Nicole Foss : Canada's real estate to collapse by 90 percent

[3ofusalone]

we are LOOKING FOR CANADIANS THAT WANT TO FARM ONE HUNDRED ACRES

GOOD PASTURE BEEF FARM WE HAVE TEN THOUSAND

the farm is 100 acres good barn five bedroom house

if you want to farm organic food and some organic beef and make some money

then get ahold of us  the food bank from moncton NB is even going to hook up with us

[AVEYoungCeasar]

Get rid of the corporate privatized banks and the Bank Act. Take a loan from the Bank of Canada at very little interest to pay off our existing loans to the private banks. The interest goes back into the hands of Canadians who in turn pay taxes. Imagine getting a check in the mail from the government saying "we fucked up, were sorry, here's what we owe you this month". The people would be in power of their currency again as it should be. This would lead to faster recuperation and

[AVEYoungCeasar]

pave the way to a debt free Canada. ANY debt the government would incur would be taken directly from the coffers of the people of Canada and paid back to ALL of us in kind with interest INTSTEAD of the banks. This will lead to inflation, but no matter what we do, it's going to happen anyway so we might as well put in place the "First Aid" measures needed to make sure we dont red line like the US and the EU.

[AVEYoungCeasar]

Then we install a group of laws known as the Free Peoples Charter that states that under NO circumstances will the dealings of a countries money fall in the hands of private institutions, that no Freedom or Right will be infringed upon by the government or privatized institution, that transparency in the government of all its assets will be made viewable to the public (including the budget of Canada and the salaries of all political servants) and re-publish the Bill of Rights with NO scruples.

[6503mike]

90%??? I'm a bear, but more like 30-40% across Canada and possibly more in places like Vancouver.

Also, Oil Sands (not "Tar" Sands) are not as bad as she is insinuating. Even if we did use more energy, obviously the natural gas used to extract the bitumen is far less VALUABLE than the bitumen. The market will figure this out, like real estate, as it always does.

[urbansasquatch72]

This chick is laughable, I would suggest a 50% correction tops! hahaha what a clown!

[aegisgfx]

"Houses to drop to $20,000 in Canada! "

Lol, these people are idiots.

[zeropointpower]

@aegisgfx

I think it's going down but yah, you put it in perspective. I don't think it's going down 90 percent. That's not going to happen.

[Tuff22]

@aegisgfx ya think so? go to windsor bud lol

[rodbotic]

@aegisgfx I think thats a max. vancovuer housing prices is soo bloated right now. a teardown house in my neighbourhood @ $1.5m

[aegisgfx]

@rodbotic

ya I think van and Toronto are headed for some kind of disaster for sure, but that does not mean it definitely will be the same or to the same degree in the rest of Canada. Even in the U.S. the majority of the gains and losses were in the major centers, LA, Detroit, New York. But for anyone to go on TV and say "90% drop", thats just fear mongering. 50% in the major centers? Maybe. But 90% ? Ridiculous.

[SaneBoomer]

Clearly a woman who doesn't understand the infamous Vancouver RE boom bust cycle nor Canadian bank lending. She's a joke.

[TheJules1003]

I agree with Nicole Foss that housing is going to go way down and I see it with my own eyes that this won't last long and already showing signs of slipping. Like what American comedian George Carlin said when he was alive about the American Dream "you have to be asleep to believe it" and he sure was right. You never really own your house - you are a slave to very high taxes and you can't do what you want with your own property - it isn't yours.

[JohnnyHorton]

Max, you know that the dollar is in a bubble. It's already October 2011 and the market is still strong.

[dexterriley]

With the fees the banks put out there, i'm quite frankly stunned that more Canadians don't take full advantage of Credit Unions.

[rustyscrapper]

The prarie provinces of canada are still doing ok. It is relatively easy to find work. The housing bubble is going strong here in Winnipeg. BC and ontario are bust, all of the socalist and globalist agendas were introduced into BC and ontario first and it ruined their economies.

[200FuckingPonies]

I'm from Ireland and our housing market is already down 55% and still falling and that's even before a major global financial collapse

[RandomWalker39]

That was painful.

Construction amounts to about 6% of Canada's GDP and only about 35% of that is residential. I don't know where she gets that 20% of Canada's GDP is in residential home construction.

Another know-nothing blogger throwing out numbers.

[200FuckingPonies]

@RandomWalker39 ya 20% sounds wrong alright. Nicole Foss is an excellent blogger though. excellent perspective on inflation vs deflation.

[TOC359]

Well Nicole, our very own Garth Turner says you're dead wrong. So between you and him, lets say a 45% correction. That sounds fair, don't you think so??

[povertyincanada]

@TOC359 bottom line stay away from any credit live within your means , buy a house only when you have the whole price in your hand , otherwise you are a slave to the blood sucking banks ....do not give them one penny of your hard earned dollars , boycott the banks

[TOC359]

@povertyincanada I agree....too bad most house owners (especially here in vancouver) are mortgaged to their eyeballs and beyond.....

[sandhugo]

its been 10 months when she said the collapse is coming ...WHEN ???? Its still peaking you B***.. i just bought a 500k house after frustrating wait !! morons !! I want to live gracefully you screws !! the bank paid most of amount why should'nt i take the advantage ??/ WHY ?

[povertyincanada]

@sandhugo did you see the statistics for August ? for the first time the sales are down and the prices are starting to slide down too , I think the downhill ride is just starting , too bad for you you bought at the peak of the market now you'll have to pay off your debt for the rest of your life , work hard for the banks while the price of your property will continue to fall , go have a look at what's happening in the US where the prices are still falling

[sandhugo]

@povertyincanada - Yes I have seen the stats, and since i bought the home out of compulsion in Aug , it is obvious that I am more in thick of mkt , watching prices and sales than you . As per real estate board here are the figures "Greater Toronto REALTORS® reported 7,542 sales through the TorontoMLS® system in August - a 24 per cent increase over 6,083 sales in August 2010. New listings, at 12,509, were up by 20 per cent compared to August 2010."

[sandhugo]

Let me tell you more,@povertyincanada, since you are interested in mkt dynamics - it works on demand and supply (plus location in case of homes) in Toronto the supply is less than demand and with pan / parapan games coming up in 2015 here , demand will go up.

You are giving example of US , home prices have fallen for sure but where , in New york ? No . not there ..you know why ? perhaps you know..

[sandhugo]

When I was in school my teachers taught me how to read stats - TAKE ALL FACTORS IN and MORONs OUT !!

Am I happy about paying so much for the house , No I am not but should I be scared , No I should not be because when shit will hit the fan all will be drenched ! including smarties such as you and one in video.

[povertyincanada]

You have no clue what you got yourself into , dealing withe banks is like sleeping in bed with the devil , not only you will have to pay the 500K you took in debt , you should have to pay 3 or 4 times that amount and they can increase the interest rates any time they want to they can change the rules anytime they want to , and the government in short of money always turns to suckers like you and squeeze them up by increase the property tax or tax X or Y , I do not want to be in your shoes

[sandhugo]

@povertyincanada - This is understood I'll have to pay million dollars for a 500k house but that is over a period of 30 yrr and that is for any loan one takes. any loan. Banks been doing it to everybody for ages, we talk about it now because it is in news !

Yes I am worried abt only one thing - giving myself in the hands of banks , for their autonomy over the rates.

Btw Nicole in video also clarified that the bubble may not be in vancouver or Toronto which are relatively 'hot' location.

[povertyincanada]

You just have become a working slave for the banks , each month give them 80 or 90 percent of your salary for the next 30 years , and there is no guarantee that the price of your property will increase in 30 years , on the contrary it may crash or the value of the dollar may crash so even if you sell it after 30 years and you paid 10% in sales taxes and other charges you may get back your 500K in worthless dollars , you are throwing your hard earned dollars into a black hole , believe me

[sandhugo]

@povertyincanada Well I cannot counter on that theory of yours that I am slave of the banks now (more than half of the world is!) but had no choice as I looked around. Definitly would like to counter the fact that we are going down the drains in coming future... no we are not, issues arise and solutions are found. shit happens , it gets cleared up also. Housing mkt in Toronto atleast is not crashing for sure. it did not happen in NY, virginia, washington, it will not happen here, wanna bet ?

[povertyincanada]

@sandhugo well at least you are using your property as a rental unit hoping that it will pay for itself in 30 yeras .....still I do not want to be in your shoes , too much trouble and responsibility and the results are not 100% guaranteed , it is not as good as it was 20 years ago things have changed for the worst ...are you in west end ?

[povertyincanada]

@sandhugo well at least you are using your property as a rental unit hoping that it will pay for itself in 30 years .....still I do not want to be in your shoes , too much trouble and responsibility and the results are not 100% guaranteed , it is not as good as it was 20 years ago things have changed for the worst ...are you in west end ?

[sandhugo]

@povertyincanada huh soon i'll be living in it ! ! , yes west end but not as far as oshawa.

[povertyincanada]

@sandhugo is this your first property ? are you going to be renting rooms etc .....I know a lot of your people doing this business in the west end , but it is not as good as it used to be even ten years ago...

[Maddalena1100]

This video is a joke...

Canada banking system is so far different than the USA...

Canada has been the best place to invest in the past few years.

[silvermaniamania1]

four season condo got sold for 26 mil. yet food banks are running out of food....XDXDXDXDXDXDXDXDXDXDXD­XDXDXDXDXDXDXDXDXDXD canada the capitalism!XDXDXDXDXDXDXD

[silvermaniamania1]

i cant wait for it to blow up!!! gotta buy em when it crashes!!XDXDXDXDXDXDXD

[mcPoPh]

towards the end she says "strength of the american dollar"??? she's talking about deflation as if it's a done deal. also her "arbitrage" concept on the oil sands is interesing, what are the actual numbers? who is she, anyway max?

[funnytoni]

LET IT CRASH! Homes are for living, not investing!!

[AVEYoungCeasar]

@funnytoni Amen.

[alb4345]

Vancouver's market is propped up by a 7 billion dollar marijuana market. It's also propped up by criminal Chinese foreign investors. I say criminal because the average wage in China is $10,000 cdn per year, but Chinese foreign "investors" are buying million dollar homes for cash and knocking them down.

[luwdmke]

@alb4345 I guess that's probably beacuse it's cheaper for them to live in a Sanpan than a Million dollar home.

[alb4345]

August 2011 - 92% of income goes to housing...

[MegaHouseGuy]

She's out to lunch on the oil sands though

[MegaHouseGuy]

I was living in Cowtown when the bubble began an made a frickin killing off my house. But the bubble did burst just like it did everwhere and many people lost money by buying expensive homes that are worth half now what they paid three or so years ago.

[707hoser]

@whistlersmother1 I don't know what a bubble in a bubble means, but we're still waiting for it to pop.

[TyrannyResponseUnit]

Thanks to uploader for this great clip, most here in Canada are still in the bubble.. both figuratively and literally it seems :(

[creedstat]

my dad buys houses all the time no bubble here.....banks don't lend to bums here...

i have never been in debt...ever.....I am Canadian and these guys are dead wrong on this one

[UponInfinity]

@creedstat Dude, new homes in Calgary are going for $500,000 - $600,000 for an average single-family home.  These prices are FANTASY!.

[Albertanator]

90 percent is absurd...I know nothing about this lady but that is stunned! Here in Calgary we have lost about 5- 10 percent since 2008 .....granted we are well off here in Alberta but anywhere in Canada, I have not heard anything near 90 percent lost!

[intrigid]

@Albertanator The reason it hasn't fallen is because the bubble has not yet burst. Duh.

[Albertanator]

@intrigid Regardless....90 percent is idiotic...duh....

[intrigid]

@Albertanator in inflation adjusted terms, there's no reason why real estate can't fall by 90 percent. We're facing demographic changes in the middle of a worldwide financial bubble that is completely unprecedented in human history.

[canguy22]

Canada's economy is highly diversified, it has exposure to commodities, software, aerospace, automotive industry, telecommunications, insurance, banking. There are 20-30 gold companies each worth over $1 billion (market value), 30 or more mid to large cap oil companies. Canada has the second largest diaspora Chinese population in the west, that will strengthen trade with Asia. If the US economy falls they will still trade with Canada since its mostly commodities that they buy.

[canguy22]

How can Canada's real estate market be in a bubble? Alberta and Vancouver are the only places with average house prices on part with Australia and the UK. The rest of Canada is very cheap. Why not mention Montreal where a two story house near the city can be bought for under $160-200,000. Most of Vancouver is populated by wealthy Chinese from Hong Kong who invest in Canada's energy sector and prefer Canada's business environment.

Why don't they mention the new mandatory 15% down payment rule

[TheNewSchoolGamer]

@canguy22

Because they are doom and gloomers and are jealous that Canada isn't the hole like the US.

[JohnnyHorton]

it's august of 2011. Let us know when the bubble is going to burst please. Is it this year, next year, 5 years, when?

[mphello]

Gotta outlaw the insanity of tar sands oil extraction and using coal and nuclear to generate electricity. All the electricity in the world is of no use if we don't have all-electric cars, airplanes, and boats to power. Secondly, we need to preserve what little oil we have left for feedstock to manufacture items which can be made no other way. Thirdly, tar sands oil and coal and nuclear all ignore the environmental costs due to climate change and contamination. It's called Entropy, people.

[Albertanator]

@mphello No thanks....you sound deranged!! I bet you vote Green party right!!! You leave Alberta alone and stay in your deluded world!

[mphello]

@Albertanator Damn RIGHT I vote Green party! Proud of it, too!

And YOU and American traitors (the tar sands corporations) leave America and the REST OF THE WORLD alone and stop shoving your POLLUTION and GLOBAL WARMING onto us!

[Albertanator]

@mphello Oh brother....loonie......and I am not talking about the currency!

[mphello]

@Albertanator Nutjob from up north.

[mphello]

@Albertanator You anti-environmentalist nutjobs think 911 was a hologram, the Holocaust was "hoax", that peak oil isn't real, and ironically that AGW isn't real.

You anti-green fuckheads hate technology. That's why you violently oppose solar and wind power and bioengineering meat without breeding and murdering animals.

You're the ultimate Nazis: forcing your excess pollution onto OTHERS, destroying and wiping out their lands and water supplies.

[creedstat]

@mphello couldn't agree more

[Albertanator]

@mphello Wahhhhh......you green nazis would have us all living in caves if you had your ways.....Hands off Alberta you eco nut........nothing but a deranged luddite!

[mphello]

@Albertanator Get your fucking tar sands crap out of OUR air and water supply, you fossil-fuel extremists.

I'll be GLAD to personally lock you up for life, because the benefits would be enormous:

reduced global warming.

[MrJackassjerry]

She is hot.

[VeryCanadianNews]

A one bedroom condo in Edmonton in a well built high rise sold for $250,000.00 in 2008. The same condo is on the market with an asking price of $82,000.00 in May 2011.

[islandsylph]

Max is a very rude host. He's boorish and bad mannered.

[JohnnyHorton]

Sorry Max, your guest is an idiot. The U.S. economy is brought down by fraud and prices are down about what 50%. How can Canada, which is mainly a commodity based economy, lose 90%. Also how can Canadian dollar weaken compared to the super inflated U.S. dollar. Honestly..... you should ditch this episode. It's making you look bad.

[jebrucker1]

Nicole Foss is an interesting speaker. Too bad the interviewer interrupts her so often, choosing to inject his own take on the situation (disguised as a long question) instead of letting her talk.

[mookixox]

I'm in central Canada, In the past 5years I've seen min wages go up about 1.50 and 80,000 dollar home prices skyrocket to 250,000-300,000. Does this make ANY sense in a healthy economy what-so-ever? I can drive down the street and see between 1-3 new constructions of homes and large renovations on nearly every block. I know dozens of people who are newly hired roofers, framers, brick layers etc...This is the peak of the bubble, or what America saw in 2007 before the collapse.

[elimar008]

@mookixox we dont have that problem in quebec though, we could get hit but not as much as the west

[mookixox]

@elimar008 I just saw a page dedicated to the Vancouver housing bubble. It turns out thousands of Chinese are playing economic 'hot potato' with each other that is keeping this giant scam afloat, Some families are buying 5-6 different homes and condos each. When the dust settles the Chinese will be left holding the bag, they will flee the coutry and let our bank carry the tab (which will come out of tax payer pockets like what happened to the Americans).

[Clichyabarbes22]

I agree with some of what she has to say, but the bubble is confined to certain regions & towns like TO&Van. Sask is sitting on oil, potash, & is a huge agricultural producer & a small population @ a time when ag prices r going up. We're not overbuilt like the US, yet & we didnt have as risky lending. Also u cant walk away fr ur debt in Canada, u still owe. I agree thr will be pain when a correction comes, but 90%?? Not sure about that. Also mtgs pymts r not tax deductable.

[trinikid2k2]

There's definitely a bubble in housing prices in Canada, anyone living here would know that. Here in Toronto prices are ridiculous. "Really, that peace of shit property costs $500,000?" I say that every week ....

[jahnotdead]

At the end of the day, if people's salaries aren't rising and property prices are skyrocketing, it HAS to be a bubble caused by overleveraging.

[c00per69]

She misses the point about the tar sands. At $200.00 barrel of oil you can use coal at $2.00 barrel to heat and extract it. Who is this ignorant lady ?

[chadberry75]

YA. A $2O AN HOUR JOB IS GOING 2 GET U A MILLON DOLLAR HOME. ITS JUST FUKING BRICKS AND WINDOWS. THANK U GREEDY FUCKS.

[hannag23]

90%? What a wingnut...I think she's been smoking too much BC Bud.

[flagship21]

The head turn was classic

[SimianAxiom]

SUBSCRIBED!

[MegaAvalonn]

In Halifax: Housing sales down 27% the fiscal year yet value of housing increased by $7000. This is clearly a HUGE BUBBLE.

[napalmcoffee]

the GLOBALSIT can take any countries banking system down . They could topple our banks the same way one knocks over a house of cards. Give them time ..it's coming .

[SimianAxiom]

@napalmcoffee I don't doubt it.

[ThePjcull]

absolutely crazy b=tch dont listen to her.I could see a 10% drop but 90% come on are you crazy

[SimianAxiom]

@ThePjcull 90% is a bit much.

[ThePjcull]

Just type in" peter schiff canada" and listen to peter talk about Canada. This chick is nuts don't listen to her

[povertyincanada]

@ThePjcull Peter Schiff after more than a year is still struggling with the infernal Canadian bureaucracy trying to open a branch of his Europac in Toronto ...you kidding me ? I would really love to hear what he has to say about his experience with the Canadian bureaucracy

[RMT87]

@povertyincanada Europac canada opened in November

[UponInfinity]

@povertyincanada Yeah, Canada won't even approve peer-to-peer lending, unless you have 5 million dollars. God forbid, the public begins to undercut the banks!

[MegaHouseGuy]

@povertyincanada he's up and doing business now...

[truthseeker439]

Get your facts straight. She is right.

[quadcatfly]

did she mention falling oil prices??? LOL. here goes her credibility...

[NinezeroPlayer]

yeah, take advise from granny,LOL

[memgay99]

she is crazy a 90 % reduction in canadian house prices ? That's not gonna happen, at that rate the average home in Toronto will drop to just a little over $40,000. I agree that the Canadian real estate market is in a bubble but to say that house prices will depreciate by 90 % is ridiculous. And she also thinks that the canadian dollar will drop while the american dollar rises. Im sorry but the american dollar is going down the toilet.

[Probesoul]

She's not telling the whole story. Canada’s housing bubble is sustained by government insured mortgages through Canada Mortgage & Housing Corp (CMHC). So Canadian banks have no risk. Also in 2008 the government gave about $75 billion to banks to take mortgages off their books and place them with CMHC. Taxpayer cash for risky mortgages: That was the Canadian version of the US bank bailout little talked about. Google “global research bank bailout” and “tyee housing bubble” to get the details

[heatscore77]

what about toronto?

[motelcalifornia]

Bubble up, CANADA!!!

[TheSamithinker]

According to Russia Today, everybody collapses except for Russia :D

[motelcalifornia]

@TheSamithinker There is nothing to collapse in Russia. Once your national self-esteem goes in the toilet, there is nothing left. LOL,.

[ThePjcull]

Who is this fool?Listen to Peter Schiff what he says about Canada.90% is she nuts

[ISeeThemNow]

@ThePjcull I listen to Peter Schiff a lot and haven't heard his take on Canada for some reason. Could you care to give us some info in a nutshell? Thanks

[707hoser]

Nicole Foss is wrong. People have been talking about a housing bubble in Vancouver, Toronto, etc. for 25 years at least. There is a huge demand for housing in Canada's cities, driven largely by high rates of immigration. There may be a 10% correction in prices, 90% no way. Canada's banks are making obscene profits, nobody is worrying about them.

[intrigid]

@707hoser People who talked about housing bubbles 25 years ago were morons because the interest rates were very high. Housing bubbles and catastrophic housing collapses are what happens when interest rates are far too low for far too long and banks allow mortgages to occupy 40% of a household's income instead of a more sane 20%.

[707hoser]

@intrigid Yes, housing bubbles can be caused by very low interest rates in addition to corrupt and predatory lending practices. Interest rates are low in Canada but the banks are governed by much stricter standards than in the US. Plus, the Canadian government has made moves to tighten mortgage standards even further recently. I don't see interest rates rising rapidly anytime soon in these disinflationary conditions. Would you agree?

[intrigid]

@707hoser I was talking to two of my co-workers at lunch today. One co-worker and her husband own a condo in one city and a house in another. Combined, their mortgages are $500k for 35 years. Their combined income is about $90k. The other co-worker makes about $35k, and last year she was approved for a mortgage for $225k. Their finances are maxed out. These are just two examples but if they're approved for these mortgages then others are as well. In what UNIVERSE are these "strict" standards??

[707hoser]

@intrigid Well, I said Canadian bank lending standards are stricter than in the US, didn't say they were perfect. Why are these people taking two mortgages they can't afford? Common sense would suggest renting in one location, not buying in both. Yes, there will a correction in the Canadian housing market, probably 10%, not 90%. You are free to disagree, time will show us who is wrong.

[intrigid]

@707hoser Canadian standards aren't just "not perfect," they're abysmal. You asked me why they're taking on two mortgages they couldn't afford. Well, they can afford it, but they're sacrificing everything else and leaving no margin for error. She moved to a bigger city to buy the condo and they're having trouble selling the house. The matter at hand is that home values are determined by what people can afford, which is determined by what banks are willing to lend. This is why it's a bubble.

[intrigid]

@707hoser To suggest that a "correction" of 10% is in order.. well... I don't know what to say about this. It just demonstrates such a lack of understanding of the current situation that I don't even know where to begin enlightening you. And yes, we will see what will happen when either A) interest rates rise to a certain threshold, maybe another 2 percent, or B) banks run out of liquidity. Either one of these scenarios may be what ignites the fireworks factory.

[707hoser]

@intrigid I'm so flattered that an expert like you would feel the need to ''enlighten'' me. You've shown your complete lack of ability to enlighten anyone. First of all, Canadian banks won't ''run out of liquidity'', do you know anything about the banking system? Second, interest rates rising at a controlled rate should not cause a collapse in prices of 90%, maybe a small correction. As for your friends, that's a silly example to bring up. They are sacrificing as a CHOICE!

[intrigid]

@707hoser I've illustrated point by point why this is a bubble. What have you done to actually refute my points? Nothing. All you did was get sensitive and throw a fit. Also, do you realize how you just contradicted yourself? First, you stated that there is no problem in Canada because we have "much stricter" standards. Then, when I pointed out that people can obtain outrageous mortgages in Canada, you said "they are sacrificing as a CHOICE." So which is it? They can or they can't get them?

[intrigid]

@707hoser Regarding your comment "I don't see interest rates rising rapidly any time soon." All this means is the disaster will happen later and it will be far worse. Low interest rates are like the crack cocaine of an economy. The longer we're addicted to them, the more brutal the detox will be. If interest rates remain low for 5 years then there will be that many more people entering the real estate market at ridiculously inflated prices. Interest rates WILL go up. Then the chaos will happen.

[intrigid]

@707hoser Furthermore, pointing to the fact that the U.S. had worse lending standards is an incredibly flawed argument. This is because the U.S. experienced a 30% collapse in real estate values WITHOUT any rise in interest rates. They have much further to fall. Also, U.S. mortgages allow locking in the interest rates for the entire mortgage. Canadians cannot do this beyond 5 year terms and thus a far greater percentage of Canadian households than U.S. are vulnerable to rising interest rates.

[GANEVMUSIC]

@intrigid Absolutely that is why today the US government said that they will keep them low 0 till 2013 because they know very well that if they rise them the prices of the houses will go down another 50% and then the chaos will be even bigger "The Great Depression "will happen soon>Now it is just the beginning.

[GANEVMUSIC]

@intrigid Absolutely right very good point .Many people cannot understand that and that is the biggest problem.People just have to start listening to Peter Schiff and try to understand why Peter is angry with Low interest rates and low savings rate.Keep the rates low and then watch the Housing market "Grow" till explodes.This is fake -the whole low interest rate is a fake market and it will burst soon.

[GANEVMUSIC]

@707hoser you just pointed a very big housing bubble.Can you see it ?NO.Start studying economy but the -Austrian principals .

[707hoser]

@GANEVMUSIC You had better stop listening to Peter Schiff who knows nothing about the way the banking system works. He is not an economist just an investment advisor. By the way, the Austrian School of Economics you mention, do you of any major universities who teach this? Do you know of anywhere in the developed world that has tried to run an economy under Austrian principles. Also, the only bubble I see in the video in on Nicole Foss's shoulders.

[GANEVMUSIC]

@707hoser Really Schiff knows nothing then what is this ?

watch?v=jj8rMwdQf6k

I prefer listening to him .Thanks to him i did not buy a 300K house and did not bankrupted but people like you made many people cry today .The same is coming to Canada`s real estate just watch .Will talk later

[707hoser]

@GANEVMUSIC I'm glad for you that you didn't buy a house you couldn't afford. I wasn't able to buy an expensive house, either. We don't have a housing bubble blown up by Liar Loans and Interest Tax Deductions so you can't compare Canada to the US. We have a hot housing market in some cities because of strong demand but a lot of places in Canada are quite affordable. Peter Schiff was right about the housing bubble but that doesn't prove that the same applies to Canada.

[GANEVMUSIC]

@707hoser Yes it is the same the problem is that you canadians do not know how fake your economy is so start with this watch?v=g3KrGk5OaL0

watch all his videos.The problem is that your media is fooling you all the time.That is why you think you have this country but actually your country is owned by private corporations and banks .Yes it is not the same as US but the problem is the same just in a different point of view but the crash will be the same.

[GANEVMUSIC]

@707hoser You canadians act just like americans acted in 2004 Overconfident and that is not a good sign.You banks are no different than the world banks You housing market is no different either.So Supply and demand is not that moves the prices up but the low interest rates that is the problem.The banks are going to go bust and then you will see all .What about the canadian dollar ?it is destroyed every day by making it cheap compared to US dollar for better exports.= to inflation

[GANEVMUSIC]

@707hoser so If you are right US will have another 50% drop in houses so one house in US will be 40 000 and here 200 000 will be ok?Are you serious?Regulation will come and the pain will be big.Remember what happened 1 year ago with little raising of the interest rates ?this was a test how the market will react.Conclusions were amazing housing crash in Canada so they decided not to make them higher.but for how long?

[GANEVMUSIC]

@707hoser start informing yourself about the real Canadian economy and manufacturing then you will see the problem.So once you get the truth you will find out that she is right 90% is real.In US this is the beginning.Interest are 0 make them 5% and the prices will go down right away.In US they still do not have commercial estate crisis but they will have.Learn how much every family in canada is in debt them we will talk.

[GANEVMUSIC]

@707hoser see this watch?v=t7LVCX-svbA&feature=re­lated

what about this .You do not see this in your brainwashing media.I listen radio all the time and it is just laughable I do not watch canadian TV because I know it will be a circus.Believe me you have been fooled all the time.We have the same problem US have and we are US ,UK and Canada .Remember corporation here in Canada will be ok but people will be in bad situation I do not care about corporation and their profits.

[GANEVMUSIC]

@707hoser This is Canadian economy ?guys if you want to know the truth see this .Open your eyes Canada is owned by Foreign Corporations years ago .

watch?v=rLK8N9rI82E&feature=ch­annel_video_title

[breckandy]

Let's see

Canada has lots of oil.

Canada has no military.

US has large military and needs oil

What happen, Grog?

[ENGUNI]

Max is an idiot. Canada RULES! I am from Seattle but have lived in Sweden for 10 years. Here it is about 8 dollars a gallon for gas and our VAT is 25%. But the quality of life here is WAY better. Canada took the best from the US and Sweden and their schools are way ahead of both. Most Americans, even my family does not get it. Why do you need health care and a social safety net? It's called crime. The US is sure leading the world in that.

[fiatalfa1]

Just got back from Toronto. Haven't been there for over 10 years. The skydome is now surrounded by high rises. Have a relative in the building business. He has over 100 people lined up for new housing. There seems to be a lot of Asian and Indian money coming in.(sound) I think it's going to be okay for awile. 90%. Not. The Canadian banking system never had cmo's. Taxes are crazy though (13% on goods bought and over $4 gas)for all of their "free" healthcare..etc

[insaneapples]

@fiatalfa1 You have to live here to know that the taxes are worth it in the end. I can be unemployed my entire life and I'll still get health care. That's why it *can* be called "free".. because it's not based on if your working, or if you have money in the bank, or pay for insurance, etc... you just need to live here to get it.

[hanksnow82]

@insaneapples The only people in Canada that think the staggering tax rate is ok are those that don't have to pay much of them . The middle class is evaporating as it drowns in taxes and user/ enviro fees

[sandorjohn]

Wait a sec. I agree that the Canadian housing market is in a bubble - but she lost me when she started yammering about the Canadian dollar "losing to a rising U.S. dollar and falling oil prices." Sorry Nicole but you are WRONG!!! With all that new U.S. money being printed and chasing those few commodities, you can bet the farm that the $U.S, while holding the hand of the U.S. economy, is going to take a major cliff dive.

[itubeutude]

90% is not going to happen.

[silvermaniamania1]

real estate in Canada crash soon!!! XD

[zinkerled]

Whe isn't she hot like the CNBC and Fox Business girls?

[reefcut]

@zinkerled

She is a guest, guests are not required to be hot, just be happy you are getting the truth and some advance warning, send this to friends in CA with property or not.

Tar sands are a joke, lets work all day and night for a tiny energy gain but massive environmental destruction.

[particlelight]

@zinkerled Well, for one thing she is competent. She really seems to understand what she is talking about. The Fox business girls are just talking heads, their ideas come from a teleprompter rather than real research.