Nicole Foss and Garth Turner are voices of reason and are on the money on this.
Just read Maclean's magazine edition of March 5, 2012 on the upcoming Canadian Real estate
Crisis. Canadian Business had a similar story from a magazine (of January 2012).
Simply put, Canadians are over their heads in debt, and there is a massive bubble in Vancouver, and Toronto. Big bubbles exist in Calgary, Saskatoon, Kelowna, and many other cities and towns coast to coast. There will be a crash, no doubt about it
@tindallpe Wow big words like imbecilic and rabbletrash! Did you use your thesaurus today? Well here are some Grade A stats for you since you never use any at all: $2 trillion in bank debt among 34 million Canadians, highest personal debt in the world that could top 160% soon, purchase price of homes topping 10 times income in many areas, highest leveraged banks in the world that would fail if their assets lose just 4% of their value. Maybe you should actually look this stuff up.
Ok 90% drop.Hmmm.....and the world will end by December 2012 according to the Myan calender and you can take that to the bank! She is right about credit, she is right about consumer debt, she is wrong about bank capitalization and she seems to have left out the possibility of a US stabilization and recovery.She seems unaware of the stabilization of hot markets being supported by foreign capital as well as domestic.At worst a 20 percent correction.Problem is capital keeps pouring in.
@tindallpe "she seems to have left out the possibility of a US stabilization and recovery" because the USA is a debtor nation. It consumes much much more than it produces. The USA empire is on the decline. Best to put your fortunes elsewhere.
@jimbobubbadj There are places in the world with even greater real estate prices relative to income. In Europe mortgages are financed over "GENERATIONS. Yes you can a million dollar mortgage on a 100 thousand dollar income and they have been doing it for decades. I would like to see a correction in values in Vancouver but if capital continues to pour in that wont happen. It will be as expensive as Paris or London or New York city core areas.
As a Canadian, who actually has an education unlike most of the other Canadian idiots posting on this video, i will keep this short and sweet. For a myriad of self-inflicted and moronic reasons, we are screwed, royally. Every Canuck needs to pull their head out of their asses and wake up to tidal wave that's about to hit us. i won't waste my breath telling you why. She may be a little harsh with her 90% drop prediction, but is bang on about the rest.
@tindallpe OK tailpipe or whatever your name is,I feel that 40 year olds in Canada that signed off on 35 year $600,000 mortgages with 5% down, are racked in credit card and car loan debt, are living paycheck to paycheck as well as hoping and praying the interest rates never go up, that they never get sick or lose their job and pray the same doesn't happen to their spouses, will flush us all down the drain and soon. Oh and while the rest of the world's economies are failing....loser
@woperholic With a name like woperholic you better show some respect or the wopper you crave may surprise you. Perhaps you didn't read that I pointed that out .We are not on the abyss of collapse if the US economy stabilizes which may very well happen as indicators show. Consumer debt is a reaction to a sense of security whether true or false.Canada has weathered the storm of world ressession and we will always have the doomsdayers standing by. You're just one of a million quacks
@tindallpe lmfao, are you threatening me now? if i'm one of a million quacks, then you are one of 30 million dreamers who believe everything they read and have their heads so far up their asses and they can't deal with reality. Just keep hoping that if this happens, and that happens and our banks and gov't aren't bsing us to death, all will be just fine in lala land. I didn't post on here to get into something with a dimwit like you, you made it personal and continue to.
@woperholic First you say everyone posting is an uneducated idiot. Then you make statements about my name.If you don't want to get personal check yourself. Who's the dimbwit? You are the hayseed calling the kettle black.Vancouver is unique because of the Chinese invasion.They sold their million dollar outhouses and they are thrilled to buy here. Unfortunately it displaces everyone else and it should be restricted.I've already told you I don't need to dream. I have; so piss off you arrogant twat
@tindallpe "Vancouver is unique because of the Chinese invasion". China is having its problems too. How much longer they will be able to pay the mortgage on $600,000 homes is questionable. If instead they plan on renting them, how will they recoup their money? Who will be able to afford to pay the rent to make this "investment" worthwhile?
@jimbobubbadj "Consumer debt is a reaction to a sense of security whether true or false" This puts people in a worse situation."
Obviously. Canadians should absolutely not be living on the cusp with their debt ratios and may require a "Cultural" change in attitude. We may need a "Great Depression" in order to teach people a lesson..It starts with"Don't spend more than you make". Use reason not the advice of some real estate agent trying to maximize her commission
Max Keiser is very famous and has been in advising the rich in California in finances. Yes Canada's real estate is going to plunge and much worse than the US. Our trade is 80% and more dependent on the US. The US is bankrupt and we will go down the tubes as well soon.
And to add in Canada you can’t buy a home without giving your financial statements for the past 5 years meaning that you have to give the bank the company you work for, position, contract, how much you make, the number of people living with you and the amount you have in your account. If your saying that the homes in Vancouver cost $1m that means people for the past 5 years minim are making over $100 thousand. When you talk get your facts strait.
ALL THIS TIME I THOUGHT SHE WAS AN ECONOMIST, SHE SHOULD WORK FOR THE BANK OF CANADA or RBC CAPITAL MARKTS etc............. fuckin idiot. LMFAO. She doesnt know what the fuck shes talking about its called supply and demand bitch, it was adjusted from the Bank of Canada, governor Mark Carney. And yes us, Canadians, have the best banks in the world due to our governemnt, the people and our education. I love Canada
Captain Canada on crack. What is the population in Canada? What is the population of the U.S.? You left out humans out of your moronic rant. It takes a MARKET to build an economy, it takes people to build a market. STEP AWAY FROM THE CRACK PIPE KOOKY CANUCK!!
If you want to compare economies-of-scale try Canada -vs- Australia
Guys, please pay no fucking attention to this wackjobs. They are fucking CLUELESS, yapping about our great rising nation. When the US finally implodes like Roman empire, the entire world is going to be realigned economically, and Canada will still be Canada, Canada will still be sitting on the second largest territory in the world with every natural resources known to man EXCEPT very large quantities of Lithium. These fucking nutjobs are knee jerking propaganda spewing economy crashers, IGNORE!
1/2 a million for town house in a year will sir they go for more then that now. I know people who paid 700 thousand for one and worth now 1.5 million in 5 years ...its location...plus we here in canada are not POOR like you american's. We have money in the bank...you know that place that took all your money with the Republican's here and George bush help them.lol.have fun living in you backwars country.Canada has policys in place to protedct the consumer, not like your country who removed it.
The Canadian Real Estate market is very good hewre in Canada...From west to east. here in Toronto people still line up to by condo's and homes are only on the market for three monthat at the most. This guy and woman has no ideal about canadian or canada in gerernal...ask people that live here, our economy is way better them most of the world, our banks are strong and we are just doing find...This loser in the vido has been saying this for the past 5 years...so when will we crash loser...lol
@niccrant You sound like someone who comes from California or Florida. Same shit was said there. Mathematically IT IS IMPOSSIBLE FOR PRICES TO CLIMB FOREVER. Who's going to afford this when it becomes UNAFORDABLE? At the rate things are going, a townhouse will cost 1/2 million in less than8 years. USE YOUR BRAIN!!!!!!
@alyr315 NO! I am Canadian!!! Itis my God given right to not use my brain! I dont care about the facts!!! One day...a fridge box will be a MILLION DOLLARS...just wait and see!!! It will always go up, cuz Im a LIberal cocksucking arsewipe, who learned every thing I need to know in Kindergartedn. I have a mental disorder. Pierre Trudeau Number One! Patty Torseny Number One! Sheila Cops Number One!!!
@freethetruthIarry Wow Larry, you really are that stupid aren't you? Do you see the Canadian real estate crashing? What's the exchange rate - thats right dumbnuts 1.05 for everygreenback. Your real estate is crashing still, you're still loosing jobs, your begging for Canadian oil. I don't have to list more do I? You dumb idiot, look at the facts. over 90% of every dollar the average american spends goes to creating chinese jobs. The U.S. is dead!
@AngelWillGetYouBitch ...giving your money away. 90% of what Americans spend in Wal-mart goes directly to China. Every dollar you spend puts you more in debt and creates more jobs in China. That is why Obama went to give Wenbao a blowjob last year. You are now China's lapdog. The U.S. is toast you just won't accept reality. 40 years of political bullshit has destroyed the U.S. and you don't have the balls to reverse it. You're toast and your richest are leaving...for Canada and China. Stupid
@AngelWillGetYouBitch Is that why Americans have been cashing the greenback and buying Canadian dollar over the last 2 years? Why do you think Canadian $ is so high? Do you realize that there are more Americans migrating to Canada than vice versa. You are so fucking living in fantasy land with your head up your ass it isn't funny. The U.S. collapse was seen by people around the world and so is the whole fall of U.S. which is yet to come. Wake up stupid and ....
Hey shit for brains, is every American as stupid as you? Facts: 1. Money pouring into Canada from around the world, especially China and Latin America to park their money in a stable economy, 2. Resource bases (50% of Potash share, 30% uranium, BIGGEST FUCKING SUPPLIER OF OIL TO U.S.), 3. largest ratio of resources to population, 4. govt passed rules to reduce lending and curb spending, 5. doesn't have as many stupid people as U.S.
Really because canaian economy is now back to where it was before your country tryed to destroy it own...LOL you should look at the job increase here before making comments...
Its just another dumb american thinking they know something about another country because they had a guess on their show...LOL American's are the dumasses of the world...lol That is why people are realizing now the only way to stop america is don't buy american. Kill america people kill america...
Dumb ass bitch don't know nothing but what the REpubl;ican's tell her to say...They paid another bitch to ready off a note they wrote...They have been saying this for the last 20 years about Canada...But it was the dumb ass American's that have the shitty economy...not us!
yes, max keiser didn't make the comments, very true. Nor did he point out any of the glaring differences between the fraudulent reasons for the collapse of the rigged U.S. market and the overheated Canadian market. Isn't that his job?
I have to wonder about Max Keiser. I think that up until now, he's hit the nail on the head. But this Foss person is totally off. Yes I think the market is going to go down, but not for the same reasons as her, and not to the same extent.
@jibbi4one You hit the nail on the head. We have that Civicnation person below who seems to know everything and swallows Canadian propaganda like water.
@captplanut Is that a comment about the video you posted? If you can not take negative comments about your video, get out of the kitchen. Actually you should be ashamed of posting such garbage. Go buy her book, that is the purpose of this fungus person being in the video. You, sir were taken.
@lizardgizard2002 I guess you're a member of the rule-by-majority liberal/conservative duopoly that so prevalently rule by canadian elites out of royal decree.
Your hero. Correction inmate: Conrad Black, was just released from prison but not allowed to return to canada.
Funny how this guy was never convicted in Canada only in the states.
Because canada is a cheater's haven. If you want to bilk investors out of their money come to canada !
@lizardgizard2002 I have no heros or gurus as you apparently have. You though, are embarassed to name them. Comeon, step up and let us know. I can tell by your comment that Alex Jones is one for sure. When you answer my question I will comment on your asinine ideas although that is hardly worth my time.
Mr. Speech Writer try waving your 'RECOVERY 2011' banner in front of grocery stores, malls, gas stations as Canadians see prices rise in fuel, food and clothes.
Make a video clip.
Lets see some honest shopper responses to the question.
"...Have you noticed stable or lower value pricing lately at your store?"
@jibbi4one You still have not answered my question. You must really be embarassed of your cult leaders. I don't care, by the way about prices at the store. They are very low in comparison to income as is gasoline and other products. Are you so uneducated that minor fluctuations in prices affect your standard of living? Get educated and then get a job. BTW Happy New Year.
@jibbi4one You still have not admitted that Alex Jones and other kooks are your cult leaders. What is up with that? Come on, your mama isn't going to come down the basement stairs and take her computer from you. You are so strange, sort of like a Canadian American Sara Palin wannabee. Your logic is a cross between palin and Jones'. OMG you are a teabagger!
This girl is a bit off. The 35 yr mortgages and 5% down is here however, banks are still more conservative in their lending practices. For instance, you will likely get a mortgage with a 3.45% rate today but the bank will still qualify you on your ability to sustain a 6% interest climb. It can in no way be compared to the LIAR LOANS scandal that is rocking the USA. Our banks arent even leveraged like the American banks are....we are EXTREMELY conservative.
and finally her major is biology and she really has no business talking business unless she
has the credentials to back it up......she is out of bounds and peddling her book about
a coming depression. her lack of credibility is why most media outlets dont want to speak with her.....she is a dime a dozen and belongs on youtube like every other conspiracy theorist.
stop living in wishful thinking. you think that id relinquish my home and condo to you on the
cheap? Many regions in BC have seen a stall in home prices and consequently the mls listings
have dropped. let me translate....if you arent willing to pay the asking price then the house is not
for sale. My condo has gone up yet another 6.6% over the past 6 months. If i cant sell at profit then im just renting it out to somebody. i dont need to sell and neither does anyone.
My moms home on the sunshine coast has increase by 25%. Dude, even if the prices dropped the owners will take it off the market. Start ups will stop and thats ALWAYS been the way because the system works that way....if you arent in the game then you are not calling the shots.
Well, fiat or whatever, you still cant buy my condo with two goats. I dont know what form of commerce
you think will work, but forget about paying rent with goats and eggs or gold. And if my boss thinks im gonna work for 2 hens per day i have a few choice words to say to him. Forget all this talk about fiat money....that shit belongs to the anarchists and doomsayers and people who actually have no money. Even under any other monetary or non monetary system theyd be broke.
@civicnation4two Civicnation you leave us with no evidence of your claims at all and name-calling people who explain the fiat money system shows how arrogant and ignorant you are. Maybe you should study economics a bit more, eh? Bright guy.
@civicnation4two The point here is REAL ESTATE and overvalued by mortgages that are given out like candy. Once the interest rates rise and they tighten lending requirements further, among other things, there will be a HUGE correction you CANNOT deny.
Civicnation you ALREADY discredited yourself by name-calling. Why don't you go back to bed?
Where did people ever get the idea that busts are a bad thing? Busts are a cure. The boom is a disease. The boom is where malinvestments are made. The bust is when the imbalances are purged, and real economic growth can start taking place.
The irony is that people here who are Canadian somehow feel offended when its suggested that there exists a housing bubble in Canada. Why? The bursting of the bubble is going to allow people to buy homes. Thats a fantastic scenerio.
There will be a correction.
She is right about one thing, and thats personal debt. Thats a very scary statistic.
Of course our national debt is mild relatively speaking and thats great but people need to start saving, which will of course temporarily slow growth.
the bursting of the bubble will NOT result in cheaper homes since history will show that
people will hold onto their homes longer or until the prices return to normal. We have bought and sold homes for over 30 years and its the bulk of our income. The only frightening time was during the Brian Mulroney era of governance when mortgage rates hit 20% bankrupting many Canadians. Interest rates will not rise dramatically to those levels and in these times its suicide to even talk about it.
Wow talk about giving a MORON a platform. She tries marginalize a country which is by its very nature diverse in manufacturing, Markets and also has one of the highest educated workforces in the world. Will there be a reduction of course will it cripple Canada sorry folks the Market fundamentals that where present in the states and the lack of a social and educational safety net is what enhanced the crash in America. Will Canada escape unscathed hardly but we will do just fine.
@gyice WOW!! another Canadian with a hockey puck for a brain.
Show us true statistics where domestic manufacturing percentage levels have dramatically increased year-to-year as a percentage of GDP . CAPTAIN CANADA !!
@captplanut 1) GDP grows each year (the pie gets bigger) so percentage of the GDP is an inappropriate indicator. 2) 30 years ago (1980) Canada's manufacturing sector made up 17% of the GDP. (1944 was the highest, with 29%)
Canada's GDP for 1944 was approximately $35 billion, about 10 billion from manufacturing. In 1980 our GDP was approx. $265 billion (45$ billion from manufacturing). Today our GDP stands at $1.3 trillion, with roughly 170 billion coming from manufacturing.
@bbg5000 Those figures have changed in the past 40 years because the way the govt reports them has been "cooked." Corporations' imports and exports have been counted in GDP now. WAKE UP MAN! The govt counts items produced in foreign countries as exports because their company HQs are based in Canada therefore they can cook the GDP reports. Dude, I feel sorry for your ignorance!
You were willing to use the GDP (incorrectly) as the basis to some of your points. When I use the same data to refute, you say the GDP is invalid.
Imports and exports as part of the GDP are calculated by products that go through customs. A more precise indicator is 'Domestic Exports', which are products produced in Canada. 93% of Canada's exports are of this nature. 7% are re-exports (or foreign exports). 70% of our GDP is based in the services sector.
@captplanut I agree, bbg5000 and lizardgizard2002 need to educate themselves on reality they see too much CTV and CBC propaganda.
Case in point when BHP Billiton offered to buy POTASH Corp I was shocked @ what played out. I'm not all together pro-Aussie but I think there was jealousy a Canadian controlled company was going to be bought by an Australian company & it was rude of POTASH Corp to run to gov't for buy out protection. I don't think it was a hostile buy out. Canada needs to compete.
HAHAHA Buddy, did you miss the boat when Canada became a NATURAL RESOURCE BASED ECONOMY at the beginning of the 20th century? WHERE HAVE YOU BEEN BOY? Clearly reality has passed you by
Did you know, when the US implodes and cant buy our oil, our gold, our diamonds, our silver, our water, our iron ore, our copper, our nickel, our uranium, our potash, our coal, our natural gas, our lumber, our grain THERES ACTUALLY OTHER COUNTRIES OUT THERE WHO WILL BUY THEM?
@jibbi4one Canada has a huge manufacturing base .I have no idea why anyone would say that.Manufacturing to service ratio is 70 service to 30 manufacturing a slightly less than perfect ratio. It is the same ratio as the US.... exactly. There is no chance of a real estate collapse in Canada because we have never levered without security the way the US did..not even a chance!
@tindallpe I think you drink from the mainstream koolaid.
If Mfg. is so prolific why do China products flood Canada markets? The real estate bubble has collapsed in Canada not even the Chinese buy condos. Afforadble housing in Canada OECD:1.7 million Canadians of a total population of 31 million were underhoused or non-housed (Canadian Housing and Renewal Association) 5.5% of total population, only G-8 country without a National Housing Strategy.
@jibbi4one You just said Canada has no manufacturing base which disqualifies you from making comments about the economy.You are of the illusion that what happened in the US will necessarily happen here; which of course is hideous nonsense not even worth debate.You are complaining about not having a national housing strategy and that is the precise reason for the US collapse.They did have a national housing strategy and it was wrong.
@tindallpe Just as I thought another MORON CANUCK there're so many of them online I'm beginning to think they populate the undemocratic Canadian Parliament. Oops!! Forgot they do control Gov't.
Get a clue, I'm talking about:
-municipal housing bylaw enforcement
-Setting standards against SLUM LORD TENANCY
-Calling out derelict REITs profiteering on the backs of tenants
-setting aside affordable housing stocks tailored to income not strap poor w/ usery loans they could never pay back.
@jibi4one It seems a little ironic an idiot like you, calling me a moron and since your home page shows your country of origin being Canada,it better be;because if you are not from Canada that would make you a jealous bag of smashed assholes.Oh so U want to whine about landlords;then don't profess you know anything about economics and stick your lefty dribble.Canada is undemocratic now. Where are you from Botawana?I see your list here.You are the slime that wants everyone else to pay your way
@jibbi4one Look at your data ,it's ten years old.There are 36 million PPl here now.Real estate prices are actually still rising and the hottest market is in Toronto condos. There will be a "Correction", there always is. That does not constitute a catastrophic" Bubble". Somehow "you people always think a landlord is rich. That business is one of the most difficult money losing business anyone can be in with social requirements heavily in favour of the tenants. I've been there; never again.
@tindallpe Again, The problem is money losing Canadians don't know how to run a business so they run to the 'gov't teet' to get their crony MP and MLA to craft exclusive business climate in their favor. WAKE-UP BUDDY !!
@jibbi4one We're recognized as the best country "IN THE WORLD to conduct business according to Forbes Magazine for 2011IN THE WORLD. What an erratic moron.First you're whining about rent controls and now you're a revisionist for the economic disfunction of Canada.Say something that makes sense or piss off.
@captplanut I agree with you. You are correct on lack of Canadian manufacturing. It's sad & shameful.
But we must speak softly not too loud since plenty of Canadian pro-totalitarian 'lynch mob' like sentiment comments here seem to out number this comment board.
This ladie don't know what the fuck she is talking about, they have said this shit for years and nothing have happen for years. The Canadian Banks showed the world what they are made of by who they are doing now and in the future. Canadian housing is big in Ontario and across canada. People here don't get home's if you work at walmart...lol Go fuck your country america for all your dumb ass people. There is no bubble here mr...
I can tell you there certainly is a bubble, bubbles happen all the time. Our bubble is nothing like the US bubble, but it is one nevertheless. There are homes and condos all around me that are completely vacant, and thats in Toronto, Canadas biggest city. Everywhere. That proves a bubble. Supply is far outweighing demand and prices are going to fall respectively.
Remember, thats a good thing. Falling home prices allows people to actually buy homes. Theres nothing wrong with that.
With respect ... could the prices in Vancouver have anything to do with Japanese and get ready ... Chinese money coming in? A stable country, nice climate, friendly folks and good coffee. Vancouver is a bombshelter for the monied folks of the Pacific Rim.
@walgar2 LOL!!! Walter Garbor; Ontario, Canada being from Ontario makes you CLUELESS.
The Chinese gov't is putting on the brakes and pouring cold water over hot economy to prevent run away inflation there. Chinese can no longer afford houses in Vancouver B.C. vacancy rate is high now.
You cannot compare Canada to the U.S. The housing crash in the U.S. was out and out fraud where mortgages were securitized and sold by the Investment Bankers who then turned around and" bet" that they would collapse. Did the U.S. market fall 90%? No. So why would Canada's fall that far? Sorry, she's full of sh*t.
I hope you realize that that's not fraud, and that that happens all the time in every industry. You do also know that 'betting' they would collapse doesnt actually cause a collapse right?
Thats like making an argument that the yankees beat the red sox because more people bet in their favour.
Not only that but you havent seen anywhere near the end of the collapse. In the US the mortgage crisis hasnt even begun, you're forgetting Alt-A, and Options.
@JohnnyHorton I could not have said it better myself. Two thumbs up Johnny Horton. Nicole Foss would have my very humble $150,000 home reduced in price to $15,000, which is about what one pays for an entry level sub-compact car. Her numbers seem somewhat disproportional, to say the least.
@captplanut I was under the impression that when a currency devalues, prices go up since it requires more of the devalued currency to buy anything, hence the escalation of commodity prices like wheat, oil and gold. Are we talking about inflation or deflation here?
Canada is a OFF BALANCE SHEET AUDIT nightmare. Banksters and gov't plan for indebted SERVICE based economy. Big Gov't economic system reward fails like GM (Government Motors) . Canadian economy only extract natural resources there's NO real VALUE ADDED manufacturing-no real stable jobs.
@captplanut It's truly sad to see Canada go down the path to economic ruin. While sleazy corporate/gov't lamestream media pundits paint 'irrational exuberance' as its lead story.
whoopie she was born in Canada then came back for the last ten years and shes an expert on Canadian housing .........uh huh . for ten years we have been hearing that the Vancouver market will collapse, meanwhile the average price is now up from about 500,000 to over a million.I guess she doesn't know how much money the sikhs in surrey have. You think those religous nutcases run to the Royal or td banks for their loans??
Sorry to say but you've proven you dont know what a bubble is.
"for ten years we have been hearing that the Vancouver market will collapse"
THERES A REASON FOR IT! Listen, in the United States people were sounding the alarm back in 2001, it took 7 years before that specific bubble burst. Bursts take time, but they certainly do happen.
Its funny because you made an argument theres no bubble because housing prices are so high LOL which ironically, is exactly why it is a bubble.
@audiohi actually audiohi I just grabbed the 10 year # , when I got your message I rethought it,and I think its closer to 20 years or longer. I'm sure some "expert" was predicting a bubble burst in 1990 as well as 2010 ,someone is always trying to impress us with their "knowledge". Oh by the way you just proved you know beans about the housing markets by comparing the frauds that took place in USA with legit housing markets in Canada.Vancouver is on the west coast can you spell ASIAN ??
Thanks for your reply but i work at a major bank in Toronto, so I certainly do know what im talking about ;)
You're forgetting one very important factor in your calculation and that's rent costs. Rent has a major effect on housing prices. If rent prices are comparitively lower than mortgage costs by a wide margin then there will almost certainly be a correction.
My comparison of the US and Canada was a comparison of bubbles. All bubbles are the same.
@audiohi thanks for the comments ,howeer I stand by what I said about the west coast but I will admit I know nothing of Toronto other then I spent 6 months there a long time ago and will NEVER return. now back to mortages ,I dont understand your statement on rents being lower,that has never happened in my lifetime in my own case the rental imcome we recieve for an upper suite in our house more then takes care of our mortage payments and our insurance.
@JohnnyHorton Of course it's not that simple. She is saying on average it will be 90 % and that usually means the most expensive cities like Vancouver, TO, etc.
Australian & Asian housing MARKETS next.... 14-15 years of strong growth with no real correction, Australian housing prices are at all time high's & are seriously unaffordable, Aust housing market has just entered the tipping point!
No market in any sector is immune - Any market sector in the world that has had growth by way of credit or finance will be hit - AND IT WILL BE HIT HARD IN THE NEAR FUTURE! SECURE GOLD AND SILVER "NOW" TO PROTECT YOURSELF AGAINST THE COMING WORLD CORRECTION!
When was this recorded ? Are these staements even more accurate today ?
Gauraonline 3 days ago
Nicole Foss and Garth Turner are voices of reason and are on the money on this.
Just read Maclean's magazine edition of March 5, 2012 on the upcoming Canadian Real estate
Crisis. Canadian Business had a similar story from a magazine (of January 2012).
Simply put, Canadians are over their heads in debt, and there is a massive bubble in Vancouver, and Toronto. Big bubbles exist in Calgary, Saskatoon, Kelowna, and many other cities and towns coast to coast. There will be a crash, no doubt about it
MrStealth22a 4 days ago
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@tindallpe Wow big words like imbecilic and rabbletrash! Did you use your thesaurus today? Well here are some Grade A stats for you since you never use any at all: $2 trillion in bank debt among 34 million Canadians, highest personal debt in the world that could top 160% soon, purchase price of homes topping 10 times income in many areas, highest leveraged banks in the world that would fail if their assets lose just 4% of their value. Maybe you should actually look this stuff up.
woperholic 2 weeks ago
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woperholic 2 weeks ago
Ok 90% drop.Hmmm.....and the world will end by December 2012 according to the Myan calender and you can take that to the bank! She is right about credit, she is right about consumer debt, she is wrong about bank capitalization and she seems to have left out the possibility of a US stabilization and recovery.She seems unaware of the stabilization of hot markets being supported by foreign capital as well as domestic.At worst a 20 percent correction.Problem is capital keeps pouring in.
tindallpe 3 weeks ago
@tindallpe "she seems to have left out the possibility of a US stabilization and recovery" because the USA is a debtor nation. It consumes much much more than it produces. The USA empire is on the decline. Best to put your fortunes elsewhere.
jimbobubbadj 1 week ago
@jimbobubbadj There are places in the world with even greater real estate prices relative to income. In Europe mortgages are financed over "GENERATIONS. Yes you can a million dollar mortgage on a 100 thousand dollar income and they have been doing it for decades. I would like to see a correction in values in Vancouver but if capital continues to pour in that wont happen. It will be as expensive as Paris or London or New York city core areas.
tindallpe 1 week ago
As a Canadian, who actually has an education unlike most of the other Canadian idiots posting on this video, i will keep this short and sweet. For a myriad of self-inflicted and moronic reasons, we are screwed, royally. Every Canuck needs to pull their head out of their asses and wake up to tidal wave that's about to hit us. i won't waste my breath telling you why. She may be a little harsh with her 90% drop prediction, but is bang on about the rest.
woperholic 3 weeks ago
@woperholic If you are educated, use your own data not some one elses..... idiot
tindallpe 3 weeks ago
@tindallpe OK tailpipe or whatever your name is,I feel that 40 year olds in Canada that signed off on 35 year $600,000 mortgages with 5% down, are racked in credit card and car loan debt, are living paycheck to paycheck as well as hoping and praying the interest rates never go up, that they never get sick or lose their job and pray the same doesn't happen to their spouses, will flush us all down the drain and soon. Oh and while the rest of the world's economies are failing....loser
woperholic 3 weeks ago
@woperholic With a name like woperholic you better show some respect or the wopper you crave may surprise you. Perhaps you didn't read that I pointed that out .We are not on the abyss of collapse if the US economy stabilizes which may very well happen as indicators show. Consumer debt is a reaction to a sense of security whether true or false.Canada has weathered the storm of world ressession and we will always have the doomsdayers standing by. You're just one of a million quacks
tindallpe 2 weeks ago
@tindallpe lmfao, are you threatening me now? if i'm one of a million quacks, then you are one of 30 million dreamers who believe everything they read and have their heads so far up their asses and they can't deal with reality. Just keep hoping that if this happens, and that happens and our banks and gov't aren't bsing us to death, all will be just fine in lala land. I didn't post on here to get into something with a dimwit like you, you made it personal and continue to.
woperholic 2 weeks ago
@woperholic First you say everyone posting is an uneducated idiot. Then you make statements about my name.If you don't want to get personal check yourself. Who's the dimbwit? You are the hayseed calling the kettle black.Vancouver is unique because of the Chinese invasion.They sold their million dollar outhouses and they are thrilled to buy here. Unfortunately it displaces everyone else and it should be restricted.I've already told you I don't need to dream. I have; so piss off you arrogant twat
tindallpe 2 weeks ago
@tindallpe "Vancouver is unique because of the Chinese invasion". China is having its problems too. How much longer they will be able to pay the mortgage on $600,000 homes is questionable. If instead they plan on renting them, how will they recoup their money? Who will be able to afford to pay the rent to make this "investment" worthwhile?
jimbobubbadj 1 week ago
@tindallpe Seems like the Dutch tulip mania of 1637.
jimbobubbadj 1 week ago
@tindallpe "Consumer debt is a reaction to a sense of security whether true or false" This puts people in a worse situation.
jimbobubbadj 1 week ago
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@jimbobubbadj "Consumer debt is a reaction to a sense of security whether true or false" This puts people in a worse situation."
Obviously. Canadians should absolutely not be living on the cusp with their debt ratios and may require a "Cultural" change in attitude. We may need a "Great Depression" in order to teach people a lesson..It starts with"Don't spend more than you make". Use reason not the advice of some real estate agent trying to maximize her commission
tindallpe 1 week ago
@woperholic As for the loser part, I am financially independent,carry no debt, take three vacations a year and have a great life; but thanks anyway.
tindallpe 2 weeks ago
OMG these 2 are clueless. Lots of words but no substance.
Hilarious
rockfordtoronto 1 month ago
Canada is not immune from world crisis. Also canadian debt per capita is higher than that of our us neighbors.
We re in a terrible financial mess but we don t want to face reality.
alex630710 1 month ago
We in Canada are in loads of trouble and many of the posts below are amusing.
Crashbanksbuysilver 2 months ago
bitch was wrong
anne9767 2 months ago
@anne9767
no she's right.
Crashbanksbuysilver 2 months ago
You both look kind of FOOLISH today
9057979 3 months ago
Max Keiser is very famous and has been in advising the rich in California in finances. Yes Canada's real estate is going to plunge and much worse than the US. Our trade is 80% and more dependent on the US. The US is bankrupt and we will go down the tubes as well soon.
TheJules1003 4 months ago
2012 will be credit collapse of Canada
crumcon 4 months ago
And to add in Canada you can’t buy a home without giving your financial statements for the past 5 years meaning that you have to give the bank the company you work for, position, contract, how much you make, the number of people living with you and the amount you have in your account. If your saying that the homes in Vancouver cost $1m that means people for the past 5 years minim are making over $100 thousand. When you talk get your facts strait.
7691yazan 5 months ago
ALL THIS TIME I THOUGHT SHE WAS AN ECONOMIST, SHE SHOULD WORK FOR THE BANK OF CANADA or RBC CAPITAL MARKTS etc............. fuckin idiot. LMFAO. She doesnt know what the fuck shes talking about its called supply and demand bitch, it was adjusted from the Bank of Canada, governor Mark Carney. And yes us, Canadians, have the best banks in the world due to our governemnt, the people and our education. I love Canada
7691yazan 5 months ago
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Captain Canada on crack. What is the population in Canada? What is the population of the U.S.? You left out humans out of your moronic rant. It takes a MARKET to build an economy, it takes people to build a market. STEP AWAY FROM THE CRACK PIPE KOOKY CANUCK!!
If you want to compare economies-of-scale try Canada -vs- Australia
jibbi4one 6 months ago
Guys, please pay no fucking attention to this wackjobs. They are fucking CLUELESS, yapping about our great rising nation. When the US finally implodes like Roman empire, the entire world is going to be realigned economically, and Canada will still be Canada, Canada will still be sitting on the second largest territory in the world with every natural resources known to man EXCEPT very large quantities of Lithium. These fucking nutjobs are knee jerking propaganda spewing economy crashers, IGNORE!
mattmatt115 6 months ago
The same shit is happing right across Australia.Crash baby crash.Awesome video.
sighbaru 6 months ago
The sky is falling!
mike8004jones 7 months ago
1/2 a million for town house in a year will sir they go for more then that now. I know people who paid 700 thousand for one and worth now 1.5 million in 5 years ...its location...plus we here in canada are not POOR like you american's. We have money in the bank...you know that place that took all your money with the Republican's here and George bush help them.lol.have fun living in you backwars country.Canada has policys in place to protedct the consumer, not like your country who removed it.
niccrant 7 months ago
@nicotineRant
1972 Average Home = $27800 dollars Cnd Average Wage = $11000 a year
2011: Average Home = $350000 dollar Cnd Average Wage = $33000 a year
Brought to you by those starry-eyed dreamers at StatsCanada.
There's a little word I'd like you to look up in on Investopedia, it's called a FUNDAMENTAL.
chefshitpiece 7 months ago 3
The Canadian Real Estate market is very good hewre in Canada...From west to east. here in Toronto people still line up to by condo's and homes are only on the market for three monthat at the most. This guy and woman has no ideal about canadian or canada in gerernal...ask people that live here, our economy is way better them most of the world, our banks are strong and we are just doing find...This loser in the vido has been saying this for the past 5 years...so when will we crash loser...lol
niccrant 9 months ago
@niccrant You sound like someone who comes from California or Florida. Same shit was said there. Mathematically IT IS IMPOSSIBLE FOR PRICES TO CLIMB FOREVER. Who's going to afford this when it becomes UNAFORDABLE? At the rate things are going, a townhouse will cost 1/2 million in less than8 years. USE YOUR BRAIN!!!!!!
alyr315 8 months ago
@alyr315 NO! I am Canadian!!! Itis my God given right to not use my brain! I dont care about the facts!!! One day...a fridge box will be a MILLION DOLLARS...just wait and see!!! It will always go up, cuz Im a LIberal cocksucking arsewipe, who learned every thing I need to know in Kindergartedn. I have a mental disorder. Pierre Trudeau Number One! Patty Torseny Number One! Sheila Cops Number One!!!
chefshitpiece 8 months ago
whats would be the best etf to short/ultra short the canadian real estate?
elimar008 10 months ago
@freethetruthIarry Wow Larry, you really are that stupid aren't you? Do you see the Canadian real estate crashing? What's the exchange rate - thats right dumbnuts 1.05 for everygreenback. Your real estate is crashing still, you're still loosing jobs, your begging for Canadian oil. I don't have to list more do I? You dumb idiot, look at the facts. over 90% of every dollar the average american spends goes to creating chinese jobs. The U.S. is dead!
Bobzeedo 10 months ago
The U.S. won't buy but China will as the worlds power shifts to the Chinese.
gorddown1111 10 months ago
Only problem is that when those interest rates start to return to their historic norms then every economy in the world will be flattened.
librazone 1 year ago 3
@AngelWillGetYouBitch ...giving your money away. 90% of what Americans spend in Wal-mart goes directly to China. Every dollar you spend puts you more in debt and creates more jobs in China. That is why Obama went to give Wenbao a blowjob last year. You are now China's lapdog. The U.S. is toast you just won't accept reality. 40 years of political bullshit has destroyed the U.S. and you don't have the balls to reverse it. You're toast and your richest are leaving...for Canada and China. Stupid
Bobzeedo 1 year ago
@AngelWillGetYouBitch Is that why Americans have been cashing the greenback and buying Canadian dollar over the last 2 years? Why do you think Canadian $ is so high? Do you realize that there are more Americans migrating to Canada than vice versa. You are so fucking living in fantasy land with your head up your ass it isn't funny. The U.S. collapse was seen by people around the world and so is the whole fall of U.S. which is yet to come. Wake up stupid and ....
Bobzeedo 1 year ago
Hey shit for brains, is every American as stupid as you? Facts: 1. Money pouring into Canada from around the world, especially China and Latin America to park their money in a stable economy, 2. Resource bases (50% of Potash share, 30% uranium, BIGGEST FUCKING SUPPLIER OF OIL TO U.S.), 3. largest ratio of resources to population, 4. govt passed rules to reduce lending and curb spending, 5. doesn't have as many stupid people as U.S.
Bobzeedo 1 year ago
interest rates are a bit too low...but there is a lot of new money still coming into the Canadian economy.
librazone 1 year ago
Really because canaian economy is now back to where it was before your country tryed to destroy it own...LOL you should look at the job increase here before making comments...
niccrant 1 year ago
Its just another dumb american thinking they know something about another country because they had a guess on their show...LOL American's are the dumasses of the world...lol That is why people are realizing now the only way to stop america is don't buy american. Kill america people kill america...
niccrant 1 year ago
Dumb ass bitch don't know nothing but what the REpubl;ican's tell her to say...They paid another bitch to ready off a note they wrote...They have been saying this for the last 20 years about Canada...But it was the dumb ass American's that have the shitty economy...not us!
niccrant 1 year ago
yes, max keiser didn't make the comments, very true. Nor did he point out any of the glaring differences between the fraudulent reasons for the collapse of the rigged U.S. market and the overheated Canadian market. Isn't that his job?
JohnnyHorton 1 year ago
I have to wonder about Max Keiser. I think that up until now, he's hit the nail on the head. But this Foss person is totally off. Yes I think the market is going to go down, but not for the same reasons as her, and not to the same extent.
JohnnyHorton 1 year ago
@JohnnyHorton Keiser didnt make the prediction; Foss did.
captplanut 1 year ago
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povertyincanada 1 year ago
@povertyincanada Yessir
captplanut 1 year ago
Canadians are in denial PLEASE tell us how great bank (OFF BALANCE SHEET) AUDITS are to make them look good.
How many successful prosecutions of investor cheats has IMET & courts handed down?
Where is the BCSC on investigations? Probably having donuts with Dudley-do-right @ Tim Horton coffee shop.
jibbi4one 1 year ago
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civicnation4two 1 year ago
@civicnation4two Dude... you're Mr. Canada channel needs content. LOL (>.<)
jibbi4one 1 year ago
@jibbi4one You hit the nail on the head. We have that Civicnation person below who seems to know everything and swallows Canadian propaganda like water.
captplanut 1 year ago
I for one do not believe a fungus expert talking about the economy.
lizardgizard2002 1 year ago
@lizardgizard2002 LOL!! I for one don't believe in fake canadians business who portray themselves to be piously rich and so honestly truthful .
You would have to terribly naive to think this way.
But this is the way canadians are taught propaganda from an early age.
jibbi4one 1 year ago
@jibbi4one Hmmmmmmmmmm I believe we have an Americanized Canadian kook raising his ugly head. OK tell me who are your cult leaders?
lizardgizard2002 1 year ago
@lizardgizard2002 OMG! Canada is full of redneck canadians who think they own canada especially the Keynesian Big Gov't variety.
Can you say, Megalomania?
jibbi4one 1 year ago
@jibbi4one well he's right about propaganda in canada.
captplanut 1 year ago
@jibbi4one I asked for a list of your cult leaders. Are you ashamed to mention them? Alex Jones maybe? Peter Schifty?
lizardgizard2002 1 year ago
@lizardgizard2002 Immature, name-calling garbage again.
captplanut 1 year ago
@captplanut Is that a comment about the video you posted? If you can not take negative comments about your video, get out of the kitchen. Actually you should be ashamed of posting such garbage. Go buy her book, that is the purpose of this fungus person being in the video. You, sir were taken.
lizardgizard2002 1 year ago
@lizardgizard2002 I guess you're a member of the rule-by-majority liberal/conservative duopoly that so prevalently rule by canadian elites out of royal decree.
Your hero. Correction inmate: Conrad Black, was just released from prison but not allowed to return to canada.
Funny how this guy was never convicted in Canada only in the states.
Because canada is a cheater's haven. If you want to bilk investors out of their money come to canada !
jibbi4one 1 year ago
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@lizardgizard2002 I asked for a list of your cult leaders. Are you ashamed to mention them? Alex Jones maybe? Peter Schifty?
lizardgizard2002 4 hours ago
lizardgizard2002 1 year ago
@lizardgizard2002 I have no heros or gurus as you apparently have. You though, are embarassed to name them. Comeon, step up and let us know. I can tell by your comment that Alex Jones is one for sure. When you answer my question I will comment on your asinine ideas although that is hardly worth my time.
lizardgizard2002 1 year ago
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jibbi4one 1 year ago
@lizardgizard2002
Mr. Speech Writer try waving your 'RECOVERY 2011' banner in front of grocery stores, malls, gas stations as Canadians see prices rise in fuel, food and clothes.
Make a video clip.
Lets see some honest shopper responses to the question.
"...Have you noticed stable or lower value pricing lately at your store?"
jibbi4one 1 year ago
@jibbi4one You still have not answered my question. You must really be embarassed of your cult leaders. I don't care, by the way about prices at the store. They are very low in comparison to income as is gasoline and other products. Are you so uneducated that minor fluctuations in prices affect your standard of living? Get educated and then get a job. BTW Happy New Year.
lizardgizard2002 1 year ago
@lizardgizard2002 Who died and went to heaven to place you in charge?
What hubris! And they say Canadians are generally not rude.
Try to make some new year resolutions:
Take an economics course
Stop spreading BS
jibbi4one 1 year ago
@jibbi4one You still have not admitted that Alex Jones and other kooks are your cult leaders. What is up with that? Come on, your mama isn't going to come down the basement stairs and take her computer from you. You are so strange, sort of like a Canadian American Sara Palin wannabee. Your logic is a cross between palin and Jones'. OMG you are a teabagger!
lizardgizard2002 1 year ago
Nicole Foss claims Canadian banks are NOT liquid. Why is it then that Canadian banks are buying American banks?
walgar2 1 year ago
Because her major is biology....she examines fungus for a living and peddles books on the side to
pay for mortgage payments. Gee, i wonder if she is selling her home.
civicnation4two 1 year ago
This girl is a bit off. The 35 yr mortgages and 5% down is here however, banks are still more conservative in their lending practices. For instance, you will likely get a mortgage with a 3.45% rate today but the bank will still qualify you on your ability to sustain a 6% interest climb. It can in no way be compared to the LIAR LOANS scandal that is rocking the USA. Our banks arent even leveraged like the American banks are....we are EXTREMELY conservative.
civicnation4two 1 year ago
and finally her major is biology and she really has no business talking business unless she
has the credentials to back it up......she is out of bounds and peddling her book about
a coming depression. her lack of credibility is why most media outlets dont want to speak with her.....she is a dime a dozen and belongs on youtube like every other conspiracy theorist.
civicnation4two 1 year ago
...also, her major is BIOLOGY not economics.
civicnation4two 1 year ago
@civicnation4two SO what? Many people who major in economics do not know their ass from a hole in the ground. Stop living in Denial!
captplanut 1 year ago
stop living in wishful thinking. you think that id relinquish my home and condo to you on the
cheap? Many regions in BC have seen a stall in home prices and consequently the mls listings
have dropped. let me translate....if you arent willing to pay the asking price then the house is not
for sale. My condo has gone up yet another 6.6% over the past 6 months. If i cant sell at profit then im just renting it out to somebody. i dont need to sell and neither does anyone.
civicnation4two 1 year ago
My moms home on the sunshine coast has increase by 25%. Dude, even if the prices dropped the owners will take it off the market. Start ups will stop and thats ALWAYS been the way because the system works that way....if you arent in the game then you are not calling the shots.
civicnation4two 1 year ago
anyway, i dont pay attention to fungus experts. I leave the economic decisions to people who
major in that field.
civicnation4two 1 year ago
@civicnation4two We still use a FIAT money system like the US and rest of world does. It will 100% inevitably crash.
captplanut 1 year ago
Well, fiat or whatever, you still cant buy my condo with two goats. I dont know what form of commerce
you think will work, but forget about paying rent with goats and eggs or gold. And if my boss thinks im gonna work for 2 hens per day i have a few choice words to say to him. Forget all this talk about fiat money....that shit belongs to the anarchists and doomsayers and people who actually have no money. Even under any other monetary or non monetary system theyd be broke.
civicnation4two 1 year ago
they wont be happy until some babe with perky breasts comes over to feed their chunky faces with free food.
civicnation4two 1 year ago
@civicnation4two Civicnation you leave us with no evidence of your claims at all and name-calling people who explain the fiat money system shows how arrogant and ignorant you are. Maybe you should study economics a bit more, eh? Bright guy.
captplanut 1 year ago
i will explain it to you but whenever i ask somebody about a non fiat system they are advocating for
they never offer a viable alternative. paper money is needed....gold, goats and chickens are not
going to make things easier. nobody is coming to some gas station with a sack of silver or a chicken for a fill up.
civicnation4two 1 year ago
@civicnation4two The point here is REAL ESTATE and overvalued by mortgages that are given out like candy. Once the interest rates rise and they tighten lending requirements further, among other things, there will be a HUGE correction you CANNOT deny.
Civicnation you ALREADY discredited yourself by name-calling. Why don't you go back to bed?
captplanut 1 year ago
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civicnation4two 1 year ago
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civicnation4two 1 year ago
Where did people ever get the idea that busts are a bad thing? Busts are a cure. The boom is a disease. The boom is where malinvestments are made. The bust is when the imbalances are purged, and real economic growth can start taking place.
audiohi 1 year ago
@audiohi VERY TRUE.
captplanut 1 year ago
The irony is that people here who are Canadian somehow feel offended when its suggested that there exists a housing bubble in Canada. Why? The bursting of the bubble is going to allow people to buy homes. Thats a fantastic scenerio.
There will be a correction.
She is right about one thing, and thats personal debt. Thats a very scary statistic.
Of course our national debt is mild relatively speaking and thats great but people need to start saving, which will of course temporarily slow growth.
audiohi 1 year ago
@audiohi Yessir. IT is the love of statism and ones country that blinds one to the truth. It is the opium of the masses.
captplanut 1 year ago
@captplanut Except what this kook, two kooks say is not truth but fantacy.
lizardgizard2002 1 year ago
the bursting of the bubble will NOT result in cheaper homes since history will show that
people will hold onto their homes longer or until the prices return to normal. We have bought and sold homes for over 30 years and its the bulk of our income. The only frightening time was during the Brian Mulroney era of governance when mortgage rates hit 20% bankrupting many Canadians. Interest rates will not rise dramatically to those levels and in these times its suicide to even talk about it.
civicnation4two 1 year ago
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civicnation4two 1 year ago
Wow talk about giving a MORON a platform. She tries marginalize a country which is by its very nature diverse in manufacturing, Markets and also has one of the highest educated workforces in the world. Will there be a reduction of course will it cripple Canada sorry folks the Market fundamentals that where present in the states and the lack of a social and educational safety net is what enhanced the crash in America. Will Canada escape unscathed hardly but we will do just fine.
gyice 1 year ago
@gyice Canada is not diverse in Manufacturing. Canada will not emerge unscathed. You are living in fantasy land.
captplanut 1 year ago
@gyice WOW!! another Canadian with a hockey puck for a brain.
Show us true statistics where domestic manufacturing percentage levels have dramatically increased year-to-year as a percentage of GDP . CAPTAIN CANADA !!
jibbi4one 1 year ago
@jibbi4one I agree with you on that. Canada's manufacturing is less than 12% of GDP while it was 30 % 30 years ago or so. SHAME
captplanut 1 year ago
@captplanut 1) GDP grows each year (the pie gets bigger) so percentage of the GDP is an inappropriate indicator. 2) 30 years ago (1980) Canada's manufacturing sector made up 17% of the GDP. (1944 was the highest, with 29%)
Canada's GDP for 1944 was approximately $35 billion, about 10 billion from manufacturing. In 1980 our GDP was approx. $265 billion (45$ billion from manufacturing). Today our GDP stands at $1.3 trillion, with roughly 170 billion coming from manufacturing.
bbg5000 1 year ago
@bbg5000 Those figures have changed in the past 40 years because the way the govt reports them has been "cooked." Corporations' imports and exports have been counted in GDP now. WAKE UP MAN! The govt counts items produced in foreign countries as exports because their company HQs are based in Canada therefore they can cook the GDP reports. Dude, I feel sorry for your ignorance!
captplanut 1 year ago
@captplanut
You were willing to use the GDP (incorrectly) as the basis to some of your points. When I use the same data to refute, you say the GDP is invalid.
Imports and exports as part of the GDP are calculated by products that go through customs. A more precise indicator is 'Domestic Exports', which are products produced in Canada. 93% of Canada's exports are of this nature. 7% are re-exports (or foreign exports). 70% of our GDP is based in the services sector.
bbg5000 1 year ago
@bbg5000 LOL! Is that why Canada's public debt is in the top twenty in the world !
Canadian gov't started going into debt since 1950.
Dude, chill. You're just trying to deflect the debate.
Canada is in a no-win-war, in debt and has no manufacturing base.
Trying to spout out ironic econ. metrics is not helping your case.
If you want a true comparison try Canada-vs-Australia on second thought don't
bother because Australia puts a 'beat down' on Canada economic metrics for market of scale.
jibbi4one 1 year ago 6
@jibbi4one Yes, BBG is in fairytale land or is a shill for govt.
captplanut 1 year ago
@captplanut I agree, bbg5000 and lizardgizard2002 need to educate themselves on reality they see too much CTV and CBC propaganda.
Case in point when BHP Billiton offered to buy POTASH Corp I was shocked @ what played out. I'm not all together pro-Aussie but I think there was jealousy a Canadian controlled company was going to be bought by an Australian company & it was rude of POTASH Corp to run to gov't for buy out protection. I don't think it was a hostile buy out. Canada needs to compete.
jibbi4one 1 year ago
HAHAHA Buddy, did you miss the boat when Canada became a NATURAL RESOURCE BASED ECONOMY at the beginning of the 20th century? WHERE HAVE YOU BEEN BOY? Clearly reality has passed you by
Did you know, when the US implodes and cant buy our oil, our gold, our diamonds, our silver, our water, our iron ore, our copper, our nickel, our uranium, our potash, our coal, our natural gas, our lumber, our grain THERES ACTUALLY OTHER COUNTRIES OUT THERE WHO WILL BUY THEM?
CLUE LESS!
mattmatt115 6 months ago
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jibbi4one 6 months ago
@jibbi4one too bad Australia crashed before Canada>>> but dont worry we will too
ThEthanify 4 months ago
@ThEthanify
What??
How can Australia 'crash' economically before Canada?
Australia is next to the largest developing economy in the world the ASIA-PACIFIC.
Am I missing something for your silly comment??
jibbi4one 4 months ago
@jibbi4one Canada has a huge manufacturing base .I have no idea why anyone would say that.Manufacturing to service ratio is 70 service to 30 manufacturing a slightly less than perfect ratio. It is the same ratio as the US.... exactly. There is no chance of a real estate collapse in Canada because we have never levered without security the way the US did..not even a chance!
tindallpe 3 weeks ago
@tindallpe I think you drink from the mainstream koolaid.
If Mfg. is so prolific why do China products flood Canada markets? The real estate bubble has collapsed in Canada not even the Chinese buy condos. Afforadble housing in Canada OECD:1.7 million Canadians of a total population of 31 million were underhoused or non-housed (Canadian Housing and Renewal Association) 5.5% of total population, only G-8 country without a National Housing Strategy.
jibbi4one 3 weeks ago
@jibbi4one You just said Canada has no manufacturing base which disqualifies you from making comments about the economy.You are of the illusion that what happened in the US will necessarily happen here; which of course is hideous nonsense not even worth debate.You are complaining about not having a national housing strategy and that is the precise reason for the US collapse.They did have a national housing strategy and it was wrong.
tindallpe 3 weeks ago
@tindallpe Just as I thought another MORON CANUCK there're so many of them online I'm beginning to think they populate the undemocratic Canadian Parliament. Oops!! Forgot they do control Gov't.
Get a clue, I'm talking about:
-municipal housing bylaw enforcement
-Setting standards against SLUM LORD TENANCY
-Calling out derelict REITs profiteering on the backs of tenants
-setting aside affordable housing stocks tailored to income not strap poor w/ usery loans they could never pay back.
jibbi4one 3 weeks ago
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tindallpe 3 weeks ago
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@jibi4one It seems a little ironic an idiot like you, calling me a moron and since your home page shows your country of origin being Canada,it better be;because if you are not from Canada that would make you a jealous bag of smashed assholes.Oh so U want to whine about landlords;then don't profess you know anything about economics and stick your lefty dribble.Canada is undemocratic now. Where are you from Botawana?I see your list here.You are the slime that wants everyone else to pay your way
tindallpe 3 weeks ago
@jibbi4one Look at your data ,it's ten years old.There are 36 million PPl here now.Real estate prices are actually still rising and the hottest market is in Toronto condos. There will be a "Correction", there always is. That does not constitute a catastrophic" Bubble". Somehow "you people always think a landlord is rich. That business is one of the most difficult money losing business anyone can be in with social requirements heavily in favour of the tenants. I've been there; never again.
tindallpe 3 weeks ago
@tindallpe Again, The problem is money losing Canadians don't know how to run a business so they run to the 'gov't teet' to get their crony MP and MLA to craft exclusive business climate in their favor. WAKE-UP BUDDY !!
jibbi4one 3 weeks ago
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tindallpe 3 weeks ago
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@jibbi4one We're recognized as the best country "IN THE WORLD to conduct business according to Forbes Magazine for 2011IN THE WORLD. What an erratic moron.First you're whining about rent controls and now you're a revisionist for the economic disfunction of Canada.Say something that makes sense or piss off.
tindallpe 3 weeks ago
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jibbi4one 1 year ago
@captplanut I agree with you. You are correct on lack of Canadian manufacturing. It's sad & shameful.
But we must speak softly not too loud since plenty of Canadian pro-totalitarian 'lynch mob' like sentiment comments here seem to out number this comment board.
jibbi4one 1 year ago
@jibbi4one Yes correct. IT is like the lemmings are attacking the truth tellers on all sides.
captplanut 1 year ago
I am recently a first time home buyer in Canada, middle class income and could not get a mortgage from any bank with less than 25% down.
StAnDnWaKeUp 1 year ago
@StAnDnWaKeUp Good thing for that!
captplanut 1 year ago
This ladie don't know what the fuck she is talking about, they have said this shit for years and nothing have happen for years. The Canadian Banks showed the world what they are made of by who they are doing now and in the future. Canadian housing is big in Ontario and across canada. People here don't get home's if you work at walmart...lol Go fuck your country america for all your dumb ass people. There is no bubble here mr...
niccrant 1 year ago
@niccrant
I can tell you there certainly is a bubble, bubbles happen all the time. Our bubble is nothing like the US bubble, but it is one nevertheless. There are homes and condos all around me that are completely vacant, and thats in Toronto, Canadas biggest city. Everywhere. That proves a bubble. Supply is far outweighing demand and prices are going to fall respectively.
Remember, thats a good thing. Falling home prices allows people to actually buy homes. Theres nothing wrong with that.
audiohi 1 year ago
@niccrant Real intelligent reply with bad language mister! Shows your true colors.
captplanut 1 year ago
With respect ... could the prices in Vancouver have anything to do with Japanese and get ready ... Chinese money coming in? A stable country, nice climate, friendly folks and good coffee. Vancouver is a bombshelter for the monied folks of the Pacific Rim.
Sincerely ... Walter Garbotz, Ontario, Canada
walgar2 1 year ago
@walgar2 LOL!!! Walter Garbor; Ontario, Canada being from Ontario makes you CLUELESS.
The Chinese gov't is putting on the brakes and pouring cold water over hot economy to prevent run away inflation there. Chinese can no longer afford houses in Vancouver B.C. vacancy rate is high now.
jibbi4one 1 year ago
@walgar2 we used to have a head tax on the Chinese. maybe its time to bring that back?
captplanut 1 year ago
You cannot compare Canada to the U.S. The housing crash in the U.S. was out and out fraud where mortgages were securitized and sold by the Investment Bankers who then turned around and" bet" that they would collapse. Did the U.S. market fall 90%? No. So why would Canada's fall that far? Sorry, she's full of sh*t.
JohnnyHorton 1 year ago
@JohnnyHorton The market in the US has not finished falling yet, sir. You are still operating under your conditioned responses.
captplanut 1 year ago
@JohnnyHorton
I hope you realize that that's not fraud, and that that happens all the time in every industry. You do also know that 'betting' they would collapse doesnt actually cause a collapse right?
Thats like making an argument that the yankees beat the red sox because more people bet in their favour.
Not only that but you havent seen anywhere near the end of the collapse. In the US the mortgage crisis hasnt even begun, you're forgetting Alt-A, and Options.
audiohi 1 year ago
@JohnnyHorton I could not have said it better myself. Two thumbs up Johnny Horton. Nicole Foss would have my very humble $150,000 home reduced in price to $15,000, which is about what one pays for an entry level sub-compact car. Her numbers seem somewhat disproportional, to say the least.
walgar2 1 year ago
@walgar2 Walgar you aren't taking into account when a currency devalues, prices devalue proportionately. You aren't seeing the BIG PICTURE here.
captplanut 1 year ago
@captplanut I was under the impression that when a currency devalues, prices go up since it requires more of the devalued currency to buy anything, hence the escalation of commodity prices like wheat, oil and gold. Are we talking about inflation or deflation here?
Sincerely ... Walter Garbotz, Ontario, Canada
walgar2 1 year ago
90%. Pffft!
umdesch4 1 year ago
Canada is a OFF BALANCE SHEET AUDIT nightmare. Banksters and gov't plan for indebted SERVICE based economy. Big Gov't economic system reward fails like GM (Government Motors) . Canadian economy only extract natural resources there's NO real VALUE ADDED manufacturing-no real stable jobs.
jibbi4one 1 year ago 11
@jibbi4one YOu hit the nail RIGHT ON THE HEAD! 100% correct.
captplanut 1 year ago
@captplanut It's truly sad to see Canada go down the path to economic ruin. While sleazy corporate/gov't lamestream media pundits paint 'irrational exuberance' as its lead story.
jibbi4one 1 year ago
@jibbi4one they definately are banksters!
lucy9359 1 year ago
whoopie she was born in Canada then came back for the last ten years and shes an expert on Canadian housing .........uh huh . for ten years we have been hearing that the Vancouver market will collapse, meanwhile the average price is now up from about 500,000 to over a million.I guess she doesn't know how much money the sikhs in surrey have. You think those religous nutcases run to the Royal or td banks for their loans??
Garrys300 1 year ago
@Garrys300 Remember it is FIAT money most people have incluing those religious nutcases OR maybe they have precious metals. :)
captplanut 1 year ago
@Garrys300
Sorry to say but you've proven you dont know what a bubble is.
"for ten years we have been hearing that the Vancouver market will collapse"
THERES A REASON FOR IT! Listen, in the United States people were sounding the alarm back in 2001, it took 7 years before that specific bubble burst. Bursts take time, but they certainly do happen.
Its funny because you made an argument theres no bubble because housing prices are so high LOL which ironically, is exactly why it is a bubble.
audiohi 1 year ago
@audiohi actually audiohi I just grabbed the 10 year # , when I got your message I rethought it,and I think its closer to 20 years or longer. I'm sure some "expert" was predicting a bubble burst in 1990 as well as 2010 ,someone is always trying to impress us with their "knowledge". Oh by the way you just proved you know beans about the housing markets by comparing the frauds that took place in USA with legit housing markets in Canada.Vancouver is on the west coast can you spell ASIAN ??
Garrys300 1 year ago
@Garrys300
Thanks for your reply but i work at a major bank in Toronto, so I certainly do know what im talking about ;)
You're forgetting one very important factor in your calculation and that's rent costs. Rent has a major effect on housing prices. If rent prices are comparitively lower than mortgage costs by a wide margin then there will almost certainly be a correction.
My comparison of the US and Canada was a comparison of bubbles. All bubbles are the same.
audiohi 1 year ago
@audiohi thanks for the comments ,howeer I stand by what I said about the west coast but I will admit I know nothing of Toronto other then I spent 6 months there a long time ago and will NEVER return. now back to mortages ,I dont understand your statement on rents being lower,that has never happened in my lifetime in my own case the rental imcome we recieve for an upper suite in our house more then takes care of our mortage payments and our insurance.
Garrys300 1 year ago
Sorry Max, your guest is stupid.
To call for a 90% crash across the board from Newfoundland to BC. I don't think so.
JohnnyHorton 1 year ago
@JohnnyHorton Of course it's not that simple. She is saying on average it will be 90 % and that usually means the most expensive cities like Vancouver, TO, etc.
captplanut 1 year ago
Australian & Asian housing MARKETS next.... 14-15 years of strong growth with no real correction, Australian housing prices are at all time high's & are seriously unaffordable, Aust housing market has just entered the tipping point!
No market in any sector is immune - Any market sector in the world that has had growth by way of credit or finance will be hit - AND IT WILL BE HIT HARD IN THE NEAR FUTURE! SECURE GOLD AND SILVER "NOW" TO PROTECT YOURSELF AGAINST THE COMING WORLD CORRECTION!
BullionLimitedotcom 1 year ago
@BullionLimitedotcom You are right. People don't see it. It is amazing the amount of sheeple out there believing all the irrational exuberance.
captplanut 1 year ago