Canadian housing market is crashing

Oh no! Houses will be at prices that they're worth without speculative bubbles! How horrible!

CANADIANS GOTTA SUCK 20 000 DICKS TO BUY A HOME.

SOON IT WILL BE 10 000 DICKS.

>should have bought stevecoin the currency based on the number of confirmed steve's born per annum

That's a lot of dicks. Invest in neck braces now for maximum profits

You do realize that the Chinese own a disproportionate amount of homes in Canada and Austrailia, right? If the Chinese are actually in dire straits due to the virus, its no wonder the housing market for Canada is collapsing.

Now imagine all the sellers of 6mil Kč 35m2 flats in Prague. The market is falling now with rents already being down significantly. Also, AirBnB faggots on suicide watch.

Lol it was gonna happen.

1200 sq ft box made out of 55k of materials shouldn’t cost 400+k in the middle of nowhere leafsville

>AirBnB faggots on suicide watch.
based, this number was under 100 before the virus, now it's over 600.
chinks trying to unload their bags as quick as possible

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this is accurate
I know people in Toronto who sold houses to chinks via Skype
lots of retards getting in 4, 5 mortgages to put houses on Airbnb, rent or simply leaving them vacant because most people still hold this boomer idea that real state prices can never go down
give it three more weeks and the wave of defaults on mortgages and specially credit card debit will brings this country's economy to its knees
it won't be pretty
but hey, most retards here think liberals will pull a Jedi trick and justin sunny ways will somehow save the day
they loved to shit on Alberta because of their oil industry but ironically they loved more using it's money surplus, generated by the oil business, to send money to all those useful idiots on the east
guess what? there's no money now, the cash cow is dead and hope it remains like that for a long time
maybe people in Ontario and Quebec might start working and spending less than what they make

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Imagine being a fag that doesn't like sucking dicks

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I know that taking a loan will be difficult because of this. But what does it mean to house prices in general? Going down across the board?

kek. the chink yen and leaf dollar are both so devalued. i hope these chinks kill themselves because of all the money they lost

if this keeps up you'll only get to suck 5000 dicks per house. you must be sad.

>tfw bought apartment a couple of years ago
thankfully not in Oslo though, I'd be sweating then

Good, here it's the Russkies unloading. They will survive, since it's mostly rich real estate handlers, but they will fuck off and that's sufficient. As for Czech cunts, who were willing to sell out our cities to tourists - they get what they fucking deserve.

>lots of retards getting in 4, 5 mortgages to put houses on Airbnb, rent or simply leaving them vacant because most people still hold this boomer idea that real state prices can never go down

absolutely based leaf

god i hope canada crashes. i lived in toronto for a year. and let me tell you, there's nothing more annoying than a white liberal torontoan nigger acting all smug and condescending to an american transplant. they feel like they're so fucking superior. the only people i ever got along with unironically were pajeets born there or whites from newfoundland. fuck them and their 800K dilapidated cuck shed comes. i can buy a fucking mansion here for that and i live in one of the highest COL places in america.

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the canadian government is ran by the CCP
money for both parties flows from there
the level of chink subversion inside the Canadian government is surreal
why do you think trump is sending troops to the canadian border? is to avoid any chink false flags from hitting the US
I seriously doubt any significant Intel is even shared between US and Canada considering how compromised the canadian government is

Hate to break it to you, but real estate is still booming. This isn't 2008.

This. Prices aren’t going to budge much.

We don't have that many Communist chinks buying up neighborhoods down here. We'll be fine

Good, now we Chinese can buy nice vacation homes.

Maybe in first world countries, its not gonna fall in the third world.

Honest question here, Why doesn't the Fed either directly or through It's proxies just buy up the homes, or are they waiting for prices to bottom out?. It looks like the Centtral banks of the world are quite literally buying everything up...everything.

>imagine taking mortage for your brand new 10m 3+1 condo in january
how will the poor merchants ever recover?

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As in 2008, it'll depend on which market you're talking about.

i live in a rural area, And theres a mansion for sale 5000+ sqft, yard with statues and everything, huge yard that is, Close to water. Thing only cost 500k

Wonder how cheap its going to get

It's kind of hilarious watching it all crumble. A coworker bought a house in December, moved in in February, he got laid off yesterday.

A friend bought a house in January and moves in next week, he has minimal work now, and his wife is laid off, so they're fucked.

My neighbor has been struggling for a long time, now the construction firm he works for is about to do mass lay-offs.

Half my co-workers can barely afford their lifestyle, let alone take some time off, having reduced hours, god forbid going on E.I. Thanks to hiding my power level, I sold enough shit and did enough side jobs since January to have a great stockpile, tons of spare money for bills for the next 7-9 months, put heavy duty striker plates and locks on all my doors, and made quick attach window bars for every room in the house and garage.

These people have no idea. Now our Premier is discussing the the idea of a full and true lockdown in Ontario. A lot of people will be getting fucked. E.I. won't pay your mortgage. Paragraph spacing doesn't mean I'm a reddit faggot, it's just my lazy ass way of typing. Fuck those faggots.

Not sure about US and Canada, but they are already noticeably down in CZ. That's not 50% of course, but about 10% definitely since February for sales and 20-30% for rents. Compared to previous constant rise, about 2-3% every month for three years, this is quite big.

That sucks, someone just moved into a house across the street from me in January..JUST when shit started hitting the fan. He bought the house at the top of the bubble ..talk about bad timing and not paying attention to the everything bubble.

Kek, these are mostly owned by Russkies and each is rented to 6 young ukrainians at once. But yeah, there are retards who actually buy these.

>many people would want to move during a pandemic

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it's all that speed and whylin'

Good. FUCK Landlords.

When do you think will be the best time to buy a home? Currently living with family, so rent is really cheap, so me and my girl have been stacking cash with the hopes of buying our first house sometime in the near future.

smart people will buy them up and rent them out. Idiots will sit on their hands and bitch about landlords.

In the process of buying a flat at the moment, not sure if I should pull out. On one hand the market is crashing, on the other if I just pay rent for another year then I’ve thrown that rent money away too, so the future flat would have to be significantly cheaper to make up for lost time paying off a mortgage. Thoughts? I will still have a few thousand saved after all costs.

Has nothing to do with moving
The Chinese have over inflated Canadian home prices

On the longterm buying is always the winner
Worst case scenario is you take a small loss where as renting is a total loss

The housing market is going to come tumbling down hard in the next year or so, really depends on how ask this plays out, if coronachan keeps hitting us and this fake ass lockdown stays in effect it could be only a couple months away, if we make a “recovery” is still at absolute most 2 years away, wait for the crash, you will pay pennies on the dollar, I bought a couple houses in 08 and sold them both for huge profits, I wouldn’t buy anything right now in this over inflated housing market. I’ve been flipping homes for about 10 years, right now I’m just rehabbing for other people as I don’t want to be caught holding the bag when the market comes down

My current lease is up in November. I was planning on working/saving up until then to buy a house. Between now and then, when would be the best time to start looking, given these new circumstances?

Welcome to Fucktardia, also known as Earth. Expect nothing but wonderous works of stupidity, and great triumphs of brianlessness.

A house with 200 m^2 and one floor should cost about 40k

Hopefully soon, I'm looking to buy my first house this year and everything that isn't a dilapidated shack is astronimically priced.

Has anyone bothered to look into this ETF? I'm certain this is mostly commercial real estate, most REITs are. It would make sense that they are fucked, most businesses are shuttered this month, next and who knows how long. They sure as fuck aren't paying rent.

A bunch of boomers dying and releasing their property all at one is going to lower prices. Couldn’t this just be speculation on that maybe happening?

Link pls

I was just about to buy a house right before corona started. Waiting now to see how all this plays out, I suspect home prices will come down quite a bit. Trying to resist spending all my down payment funds on guns.

Only more immigration can save Canada's je.. i mean landlords.

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I'll do it for you.
vanguardcanada.ca/individual/mvc/loadImage?country=CAN&docId=544

Industrial & Office REITs 30.0%
Residential REITs 19.9%
Retail REITs 19.1%19.1
Real Estate Services 12.7%
Diversified REITs 9.6%
Real Estate Holding & Development 8.8%

Mortgage rates are going up at the moment. You may end up getting fucked by the banks wanting you to pay for a bunch of people deferring payments and eventually defaulting.

Dude Toronto is the most snobbish shithole in this country. Everyone there is up their own ass and is a completely domesticated pussy.

Not a chance.
washingtonpost.com/business/2020/03/05/mortgage-rates-plunge-record-lows-coronavirus-fears/

>canadian mortgage rates are now american mortgage rates
Okay.

bnnbloomberg.ca/mortgage-rates-are-rising-in-canada-despite-virus-relief-cuts-1.1414766