Housing price Crash

[Klause]

GTA sales dip 39.5% year over year.

The average price of a home in the GTA was $784,558 last month — down from an average of $915,126 in the same month last year.

[SASKFARMER3]

That’s a 130000 drop in one year. Great 👍 so their deposit is gone and now making payments on a over priced home.

Ah but can’t happen people telll me over and over.

Yes it can.

Capital moving out of canada RBC says.

[agboy]

housing market drop? were are you talking about where is GTA market?????

[macdon02]

Vancouver was -30~% Canadian pension funds hold much for domestic mortgages? Can be damn sure the banks aren't holding the bag

[SASKFARMER3]

GTA greater Toronto Area

[AlbertaFarmer5]

The question is, does that have any correlation with farmland values? It seems that every second acreage is for sale out here lately, at decreasing prices, but farmland is stronger than ever, and stuff that has been on the market forever is even selling. How long can farmland defy gravity, especially if banks are losing on residential real estate, how strict will they get with farmland?

[ajl]

Poorer farmland around here is already dropping in price but the better stuff is hanging in there but not setting new price records. Can't give an acreage away here either. Farmland is staying up there for now because there is nothing else to do. As the Canuckistanian economy disappears, good jobs are more rare than unicorns and so all millennials are coming back home to farm. Spend some time on indeed.com and you will see why.

[Rareearth]

Well then the BOC high interest rate policy worked very well.

Maybe a correction is due?

[Guest]

That’s a 130000 drop in one year. Great 👍 so their deposit is gone and now making payments on a over priced home.

Ah but can’t happen people telll me over and over.

Yes it can.

Capital moving out of canada RBC says.

won't happen to land , tho ,lol

[hobbyfrmr]

Poorer farmland around here is already dropping in price but the better stuff is hanging in there but not setting new price records. Can't give an acreage away here either. Farmland is staying up there for now because there is nothing else to do. As the Canuckistanian economy disappears, good jobs are more rare than unicorns and so all millennials are coming back home to farm. Spend some time on indeed.com and you will see why.

I never heard of indeed.com. I just did a little search for Saskatchewan. I looks like plenty if listings for labourers. CP is hiring labourers saying $85,000/year. That would work out to approx. $4000.00/ month take home. I am out of touch with real life but somehow I think thats good money.

[Klause]

I never heard of indeed.com. I just did a little search for Saskatchewan. I looks like plenty if listings for labourers. CP is hiring labourers saying $85,000/year. That would work out to approx. $4000.00/ month take home. I am out of touch with real life but somehow I think thats good money.

Try raising a family on that...

Darcy and I have friends whose mortgage, and two vehicle payments are more than 4K/month... And these are young people.

[hobbyfrmr]

Try raising a family on that...

Darcy and I have friends whose mortgage, and two vehicle payments are more than 4K/month... And these are young people.

Wow. We are in trouble.

[iceman]

Try raising a family on that...

Darcy and I have friends whose mortgage, and two vehicle payments are more than 4K/month... And these are young people.

I know people like that too. Also the burn rate per month of some young farmers would blow your hair back.


Iceman Out

[farmaholic]

Try raising a family on that...

Darcy and I have friends whose mortgage, and two vehicle payments are more than 4K/month... And these are young people.

4K in payments per month plus all the living expenses....all have to paid with net $. Must be earning "professional wages".

[farmaholic]

Speaking of housing prices....I know someone who was looking for a starter house in Regina....a home built in 1915 that is "renovated and looks ok" is listed at a bit over 200K. Location, location, location....how many farm houses built in 1915 got torn down with a can of gas and a match?