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    #1

    Its over

    http://www.bnn.ca/News/2012/9/17/Economists-warn-housing-correction-taking-hold.aspx

    Top is definitely in,in housing.

    Expect a 1-2% month over month decline.

    400,000 dollar house in calgary,4-8 thousand dollar a month decline on your balance sheet.

    Whats that banks add "your richer than you think"???

    This is really going to hurt,but i'm going to make some money off it.
    Tags: None
    #2
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    Comment

      #3
      I wonder what the price support level is on a $400,000 Combine..... Nobody should be surprosed this is happening.

      Comment

        #4
        I am curious if you would explain cotten how you are going to make money off of this. (Don't take that as i don't believe you because i do believe it!)

        Comment

          #5
          how come montreal is so cheap,?

          Comment

            #6
            Well it IS Montreal . . .

            Comment

              #7
              Price support date of Aug 2045 for Calgary? Hmmmmm, Where is Saskatchewan. Ya how are you going to gain on this one or is it too late already.

              Comment

                #8
                What do you think will happen in small town
                manitoba and saskatchewan, where mean prices
                are in the 150-290000 Do you think they will
                follow the city prices down? My gut
                Feeling is they wont.

                Comment

                  #9
                  150-200000 not talking about bedroom
                  communities or suburbs thinking more towns like
                  yorkton portage dauphin

                  Comment

                    #10
                    Just curious if you believe houses in resource based
                    economies will suffer the same fate. Employment and
                    opportunities I think will remain good in Alberta and
                    Saskatchewan with an impact our 2 provinces will
                    remain preferred places to live. Not immune from
                    what happens in the rest of the but will remain
                    insulated from the full impact of whatever happens.

                    Table is interesting in that deals with extremes.
                    Bought my house in 2001 for $135,000. At the peak,
                    worth $400,000. Lots have traded in recent years in
                    the $300,000 to $320,000. Current value likely
                    $270,000 ish. Never have borrowed on built up
                    equity. Prices have been irrelevant - a hedge in that
                    what I get doesn't matter - a hedge against whatever I
                    purchase to replace it.

                    Comment

                      #11
                      Sorry I missed the fat lady. What song did she sing?

                      Cotton, you taking the same meds that Errol is?

                      Comment

                        #12
                        Two possible reasons for that, crusher. His balls are up in the air among the rest of the world's balls, or he's a son of a ... numismatist who has a house for sale in Vancouver.

                        Comment

                          #13
                          crusher . . . realtors in Calgary think
                          prices are just going higher in cow town.

                          guess we are all on meds . . . .

                          Comment

                            #14
                            Lots of ways to play this.

                            Western Canada is more insulated but there will be
                            declines,probably based around local median incomes
                            and local median home prices.

                            If your a home owner and believe this is happening
                            why wouldn't you want to put a hedge in place to
                            offset the loss?

                            The spill over effects may make for a double wammy
                            ,with some stocks and mutual funds getting kicked
                            hard,and this will crush the eastern canadian
                            economy.

                            Comment

                              #15
                              Remember one thing grasshopper" your house is
                              not a asset".
                              Have a great day!

                              Comment

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