Untrue, Vancouver is at all time highs and has taken out the highs made during the US bubble.
http://www.yattermatters.com/real-estate/vancouvers-average-price-december-09/
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Vancouver Real Estate - Would you Buy?
- Thread starter Sikhinvestor
- Start date
Untrue, Vancouver is at all time highs and has taken out the highs made during the US bubble.
http://www.yattermatters.com/real-estate/vancouvers-average-price-december-09/
At least Vancouver has something to offer and as far as I know land is not easy to come by there. I'm in Saskatoon (6th Canadian city as far as being unaffordable). Saskatoon can get to -40C in the winter, in a resource based economy winter layoffs are somewhat the norm, we have terrible roads and infrastructure. What is holding these prices HERE let alone Vancouver, I'll never know.
I do think we will see a correction on Canadian housing prices, starting with Vancouver after the Olympics. Even the banks here are pressuring the Federal Gov to put in place tighter regulations for home buying and the banks have NO risk as far as mortgages in Canada. Puzzling.
I do think we will see a correction on Canadian housing prices, starting with Vancouver after the Olympics. Even the banks here are pressuring the Federal Gov to put in place tighter regulations for home buying and the banks have NO risk as far as mortgages in Canada. Puzzling.
Here is some CDS data.
Week ending: 2010-01-29
Term Date Gross Notional Contracts
2010 1,742,288,036,441 234,074
2011 1,896,398,921,679 257,526
2012 3,016,463,113,673 384,312
2013 2,908,914,629,169 393,936
2014 2,503,982,094,272 392,031
2015 818,437,633,724 130,094
2016 726,867,601,173 127,455
2017 830,408,809,245 145,579
2018 313,082,888,274 32,986
2019 125,181,012,302 10,287
2020 21,140,420,656 1,169
Week ending: 2010-01-29
Term Date Gross Notional Contracts
2010 1,742,288,036,441 234,074
2011 1,896,398,921,679 257,526
2012 3,016,463,113,673 384,312
2013 2,908,914,629,169 393,936
2014 2,503,982,094,272 392,031
2015 818,437,633,724 130,094
2016 726,867,601,173 127,455
2017 830,408,809,245 145,579
2018 313,082,888,274 32,986
2019 125,181,012,302 10,287
2020 21,140,420,656 1,169
Vancouver is not some Californian boom town. It is a world class city in a stable country offering the greatest standard of living on earth(maybe a little too much property crime though). Carrying cost of a place in Vancouver are low since it uses Hydro power and property taxes are dirt cheap. All this list shows is that citizens in Western Canada and Australia do not earn enough money compared to the rich people moving in and buying up the real estate.
Quote from anarcho:
Vancouver is not some Californian boom town. It is a world class city in a stable country offering the greatest standard of living on earth(maybe a little too much property crime though). Carrying cost of a place in Vancouver are low since it uses Hydro power and property taxes are dirt cheap. All this list shows is that citizens in Western Canada and Australia do not earn enough money compared to the rich people moving in and buying up the real estate.
Very true, tons of foreign buyers in Vancouver, specifically from China makes the price/income ratio much less important than what some are thinking. The Vancouver real estate market will head higher for another year or two, after that it's pretty darn hard to forecast but real estate is a slow moving boat and we've only been headed higher for a year and a bit after a -20% correction in 2008-mid 2009.
Quote from LeBud:
At least Vancouver has something to offer and as far as I know land is not easy to come by there. I'm in Saskatoon (6th Canadian city as far as being unaffordable). Saskatoon can get to -40C in the winter, in a resource based economy winter layoffs are somewhat the norm, we have terrible roads and infrastructure. What is holding these prices HERE let alone Vancouver, I'll never know.
I do think we will see a correction on Canadian housing prices, starting with Vancouver after the Olympics. Even the banks here are pressuring the Federal Gov to put in place tighter regulations for home buying and the banks have NO risk as far as mortgages in Canada. Puzzling.
Saskatchewan is a province on the rise. Agriculture is only going to get bigger and bigger. They were adding jobs while other provinces were losing them. I would not discount Saskatchewan in any way.
I am speaking relative to USA here in regards to the data.
Look at all those CDS up until 2014 betting that that reference security behind it would go into default.
Who has gained the most from the massive defaults in mortgage loans? Who were the parties that purchased these CDSs but had nothing at risk?
The housing market bottom has yet to arrive.
Think about it. If you took out fire insurance on your neighbor's house and it caught fire? Would you help the fire along or go grab your water hose?
Look at all those CDS up until 2014 betting that that reference security behind it would go into default.
Who has gained the most from the massive defaults in mortgage loans? Who were the parties that purchased these CDSs but had nothing at risk?
The housing market bottom has yet to arrive.
Think about it. If you took out fire insurance on your neighbor's house and it caught fire? Would you help the fire along or go grab your water hose?