Canada's real estate to collapse 90 percent: Keiser & Foss

http://thecomingdepression.net Do you Canadians think your country is immune to the real estate and banking collapses that plague the US? Nicole Foss is a guest on the Max Keiser show where she predicts, with evidence, that the Canadian housing sector is about to collapse. Also look up Garth Turner for proof of this at http://thecomingdepression.net & http://greaterfool.ca

Peter Schiff explains that housing prices are still way too high. Since the central banks are artificially keeping lending rates low, houses are much more attractive to buyers than if a natural interest rate were allowed to exist. http://www.youtube.com/watch?v=tb6lZm8BVPc

celente, keiser, depression, economy

Category:

News & Politics

Tags:

• real
• estate
• housing
• collapse
• depression
• celenete

[chefshitpiece]

@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.

[librazone]

Only problem is that when those interest rates start to return to their historic norms then every economy in the world will be flattened.

[Gauraonline]

When was this recorded ? Are these staements even more accurate today ?

[MrStealth22a]

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]

@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.

[jimbobubbadj]

@tindallpe Seems like the Dutch tulip mania of 1637.

[jimbobubbadj]

@tindallpe "Consumer debt is a reaction to a sense of security whether true or false" This puts people in a worse situation.

[jimbobubbadj]

@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]

@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.