B_Shinkicker
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Subject:
Canadian Housing Bubble popping. Get out while you can!
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From Dr. Housing Bubble Blog:
"On January 15 we discussed the Canadian housing bubble and many people fell off their rockers as if this was some sort of spectacular revelation. Reading through the comments on the Canadian bubble post is very reminiscent of 2007 in California where the “not in my back yard†arguments dominated the discussion. The nature of this housing bubble is global and the collapse of markets across the globe will have wide ranging impacts that are yet to be felt."
http://tinyurl.com/7j8pwb6
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Manegarm
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Canadian Housing Bubble popping. Get out while you can!
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Nice, we were due for some more bad economic news.
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Ptilk
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Canadian Housing Bubble popping. Get out while you can!
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Can't you just pour hot water on the igloos and melt half of them?
Boom, no more housing bubble.
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tenkly
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Canadian Housing Bubble popping. Get out while you can!
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We're going to be just fine.
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imaloon1
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Canadian Housing Bubble popping. Get out while you can!
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Resource wise yes, economically no.
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tenkly
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Canadian Housing Bubble popping. Get out while you can!
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Guaranteed less than 10,000 people will lose their jobs in the next 2 years.
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imaloon1
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Canadian Housing Bubble popping. Get out while you can!
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If you think that's the only factor going into determining the economic health of your nation you're dumber than I've ever thought.
Mcdonalds workers replacing your engineers doesn't mean your economy is healthy.
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tenkly
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Canadian Housing Bubble popping. Get out while you can!
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Guaranteed that probably won't happen. But keep thinking you actually know anything about Canada. 
Forget about the fact we just landed a 25 billion dollar contract for designing and buildings ship just a few months ago.
Halifax's Irving Shipbuilding is getting the $25-billion contract to build 21 Canadian combat ships and Vancouver's Seaspan Marine has been awarded an $8-billion contract for seven non-combat vessels, the federal government announced Wednesday afternoon.
Defence Minister Peter MacKay said it was a very exciting day for the Royal Canadian Navy because the ships will help them prepare for the challenges of the 21st century.
He also congratulated Irving, which is based in his home province.
So I'm sure they'll find jobs for people that have a better use than flipping burgers at mcdonald.
http://www.cbc.ca/news/politics/story/2011/10/19/pol-shipbuilding-announcement.html
We also have a few other projects similar to this one starting in the next year or so.
You guys still even haven't recuperated from your 2008 failure. 
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tenkly
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Canadian Housing Bubble popping. Get out while you can!
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Rona Ambrose, the minister of public works and government services, which handles procurement, said the contracts will provide 75 million hours of work and 15,000 jobs annually over the next 30 years.
Yep, gonna be out of work guys, pack your shit up and move to the states they're doing so much better !
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B_Shinkicker
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Canadian Housing Bubble popping. Get out while you can!
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You sound just like America back in 2006, Tenkly. "But it's different here!!!"
It happened anyway.
Canadian house prices have tripled in the last decade while incomes have stayed level. Mathematically speaking that can not be maintained, especially with the added increases in food and fuel cost over the last decade.
HELOCs and Credit Cards can only keep the illusion going for so long.
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tenkly
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Canadian Housing Bubble popping. Get out while you can!
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Well, I will say you're probably right for BC and AB.
Over on the east coast, house prices have barely changed in the last 5 years.
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Allstarslacker
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Canadian Housing Bubble popping. Get out while you can!
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There were a lot of places in the U.S. where the housing prices didn't go up stupidly high too.
The housing prices may not be super inflated, but that doesn't mean that the bubble popping won't take the values of those houses down, or impact the availability of credit in those areas.
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Eternal_Midnight
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Canadian Housing Bubble popping. Get out while you can!
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tenkly posted:
Guaranteed that probably won't happen. But keep thinking you actually know anything about Canada.
Forget about the fact we just landed a 25 billion dollar contract for designing and buildings ship just a few months ago.
Halifax's Irving Shipbuilding is getting the $25-billion contract to build 21 Canadian combat ships and Vancouver's Seaspan Marine has been awarded an $8-billion contract for seven non-combat vessels, the federal government announced Wednesday afternoon.
Defence Minister Peter MacKay said it was a very exciting day for the Royal Canadian Navy because the ships will help them prepare for the challenges of the 21st century.
He also congratulated Irving, which is based in his home province.
So I'm sure they'll find jobs for people that have a better use than flipping burgers at mcdonald.
http://www.cbc.ca/news/politics/story/2011/10/19/pol-shipbuilding-announcement.html
We also have a few other projects similar to this one starting in the next year or so.
You guys still even haven't recuperated from your 2008 failure.
To be clear, this ship building contract is from the canadian government, not some outside source. There are only three shipyards in the country with the capacity to build these ships. Our tax revenues are paying for this contract, so it's not exactly a great example of Canadian economic strength.
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illmyrin
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Canadian Housing Bubble popping. Get out while you can!
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tenkly posted:
Guaranteed less than 10,000 people will lose their jobs in the next 2 years.
There are other plans working against your optimism. Canadians will suffer.
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Thugoneous
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Canadian Housing Bubble popping. Get out while you can!
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President Newt will take his vengeance out on canada
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Friarspam
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Canadian Housing Bubble popping. Get out while you can!
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Canada, America's hat!
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Aerlinthian
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Canadian Housing Bubble popping. Get out while you can!
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tenkly posted:
Guaranteed that probably won't happen.
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Eternal_Midnight
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Canadian Housing Bubble popping. Get out while you can!
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Aerlinthian posted:
tenkly posted:
Guaranteed that probably won't happen.
I too wondered about this.
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Brother_Tempus
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Canadian Housing Bubble popping. Get out while you can!
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tenkly posted:
Guaranteed that probably won't happen.
I have heard this before ... where was it????
http://www.youtube.com/watch?v=Kowdi1mM-i8
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Aerlinthian
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Canadian Housing Bubble popping. Get out while you can!
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Brother_Tempus posted:
tenkly posted:
Guaranteed that probably won't happen.
I have heard this before ... where was it????
http://www.youtube.com/watch?v=Kowdi1mM-i8
Required watching for anyone who thinks that Keynesian economics is long term viable.
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GrymmDAOC
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Canadian Housing Bubble popping. Get out while you can!
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The Canadian economy is very different from the American economy. Its much more regionalised, with the regions often having more economic links to the USA than with each other. The effects of the housing pop will be more localised.
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Fat_wong
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Canadian Housing Bubble popping. Get out while you can!
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and there hasn;t been a bubble pop yet.... so you're a little early
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YouMightSeeMe
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Canadian Housing Bubble popping. Get out while you can!
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Well, We'll be better at handling/repairing out situation then americans if it ever even happens.
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smellymotor
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Canadian Housing Bubble popping. Get out while you can!
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china and india economic slow downs will kick Canada and Australia square in the nuts
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Brother_Tempus
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Canadian Housing Bubble popping. Get out while you can!
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GrymmDAOC posted:
The Canadian economy is very different from the American economy.
No it's not, only those ignorant about the Canadian economy makes these type of statements ....
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Bjorvald
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Canadian Housing Bubble popping. Get out while you can!
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Hmm... how to short Canadian housing?
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BubbleDude
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Friarspam posted:
Canada, America's hat!
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BubbleDude
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http://www.theglobeandmail.com/report-on-business/economy/housing/no-housing-crash-for-canada-bmo/article2319474/
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B_Shinkicker
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Canadian Housing Bubble popping. Get out while you can!
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An article from a Canadian Bank analyst who's primary motivation is to keep the bubble churning churning churning just like it did when American banks were raking in record profits back in 2006? Come on, BD!
The article itself even said that half of Toronto condos are owned by investors. Those investors will be the first to walk from their responsibilities when their "investment" starts losing value. After all, they saw what happened to the rest of the world.
Hey, speaking of 2006, here is a vintage Reuters article from that year claiming the same thing that the above article is claiming today. Slight drop to flat prices by 2007, so get out there and buy buy buy!!
http://www.calculatedriskblog.com/2006/10/mba-2007-mortgage-originations-to-fall.html
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