Still good time to buy real estate in Canada despite US woes

[vladlashing]

ANother idiot with his $20 Ikea bookshelf behind him, straightening his glasses while rambling in Kermit D' Frog vocal tone. Yes how enjoyable and oh so valuable to have this knobs opinion on what YOU should be doing with your $.

No shortage of these knobs. BNN is full of them and they are not any more qualified. Whats this guys deal? Total poor man just by looking at him.

[pookiroo]

Hello. I provided my comment about the housing mkt 8 months ago. And I was right. I would like to add now that I would still not recommend buying. You can buy a house and lose your job in this economy. And people are rallying against the government now about the economy. This is NOT a good sign.

[gordyt99]

What a difference a year makes.

That "we're decoupled from the USA" talk is almost non-existent now.

[Nozferat]

This guy is crazy. Canadians are delusional if they think what's happening in the US won't affect Canadians.

Keep dreaming. And mortgage rates ARE NOT the affordability indexes...it's HOME PRICES that determine affordability. Who cares if the interest rate is 4% when I have million dollar mortgage for a 700 sqft POS?

Have people become so delusional that they think paying $2500-3500 per month for a place to live is normal?

And the Canadian economy is strong? Where? In mining? Steel mills?

[mikolomouse]

Donald, something tells me you are lamenting the fact that you cannot afford to buy. Don't worry, you'll get your shot.

[pookiroo]

I think that you are all fooling yourself. Wake up from your delusion. Housing prices in Canada are going to plummet. I would advise Canadians thinking of buying a house right not to get it own of their minds. Buying a house in Canada right now would be like committing suicide. The Canadian economy is NOT hot! We were in decline last year. Canadian economy is not strong. Employment has been a revolving door for the last 20 years....

[MortgageMensch]

You are a fear monger and I don't mean to be disrespectful, but you don't know what you are talking about. Job creation in Canada has been averaging 2% or higher per

year for the last ten years, exceeding the population growth (adult population

expanded by approx 1.3% per year over the same period). The result is that the percentage of Canadians with jobs is at an all-time high. 63.9% in the first quarter of 2008, versus 59.4% a decade earlier.

[pjarosz]

2% average per year with a consuming US economy for the past 10 years... What happens to the job creation rate when the US economy stops consuming???

[CPhillips92]

Got that one a bit wrong, didn't you?

Now you know where all the free money was coming from...it was the result of fraudulent debt monetization. And now we face a debt deflation.

Shame you didn't realise what was going on. (Thankfully, I did.)

Rear vision mirror economists are ten-a-penny.

[Omega3chimp]

because the liberlas but know we have conservatives that wont scare away componys with taxes.

[donaldsonb]

Try renting. Inflation anyone?

[MortgageMensch]

Inflation has also been low in Canada at around 2%. Renting is not a good long term strategy.

[donaldsonb]

You believe government numbers??? I am sorry but do you understand inflation? Here is an example of real money vs. fiat money. Everyone is talking about high gasoline prices but in terms of silver it's cheap!!! My car holds 40L of Gas. In 2000 it would took 5 oz ($5 per oz) of silver to fill my tank. Now it takes about 3 oz. of silver to fill my tank ($ 18 per oz).

[donaldsonb]

The market is over priced so I am bearish on housing. I will wait until prices drop 30% - 40% and put my money in real assets like Gold, Silver, and dividend paying energy stocks. You don't make money following the crowd.

[donaldsonb]

Suckers I am not buying a house until it cost the same price as 500 Oz. of Silver.

[SergeyGoodin]

That is not bad

[aquaman2234]

Great JOB Dave!!