Oh, Canada...


#221

torontosun.com/2014/08/19/pu … io-in-debt

Nice little table at the end showing our provincial and federal debt totals and the per capita amount as well. Overall, we owe 35k each.


#222

Nah, the Federal debt shouldn’t be included because it’s denominated in CAD. Better to see it as Equity in the underlying country.


#223

Deutsche Bank reveals 7 reasons why ‘Canada is in serious trouble,’ starting with a 63% overvalued housing market
business.financialpost.com/2015/ … ng-market/


#224

It seems they expect soft landing:
cbc.ca/news/business/soft-la … -1.2735137


#225

High End Real Estate in Canada in Frenzied Bubble Blow-Off - -> acting-man.com/?p=37244

The blow-off phase in Ireland started in 2004 (introduction of tracker mortgages) to Spring 2006 (subprime lenders), then it petered out in the Summer and imploded 18 months later.


#226

Mixer mortgages make Vancouver home ownership possible

cbc.ca/news/canada/british-c … -1.2514737


#227

You’re kiddin’ me are those the real family sur-names?


#228

Thought the real estate market couldn’t get any crazier? Think again - -> macleans.ca/economy/realesta … al-estate/

It Gets Messy in Canada - -> wolfstreet.com/2015/06/14/is-can … ce-bubble/


#229

lol @ that graph.
Yep, no problem here.
No sireee.


#230


#231

Their number is very close to ours. See chart 8, peaked at over 200% after the crash:

centralbank.ie/polstats/stat … t_pack.pdf

About 2/3 of Canadian mortgage holders are on fixed rates. I’m not sure how that affects policy options if the market pops.


#232

We are doing just fine - look, a journalist says so.

business.financialpost.com/news/ … -new-highs


#233

Sectoral balances should blow it (or the Canadian Dollar) up eventually…
They don’t run a trade surplus anymore, weaker CAD might help to change that, oil price slide won’t;
The government fiscal is close to balance at the moment and if they really try to balance that out - or, worse, run a surplus - that might be the straw that breaks the private sector’s debt load.

US rates going up might help them a bit because it would probably push USD/CAD to 1.50 or beyond, helping them to a trade surplus - and combining that with a government deficit would lift pressure on the private sector. It’s certainly hard to come up with any scenarios where the Canadian Dollar doesn’t have to continue weakening pretty considerably.

Should be interesting to watch.


#234

So it looks like we’ll have a new Liberal government here in Canada by next week as they’re pulling away in the polls.

So we can expect massive deficits and a huge influx of unvetted economic migrants to Canada. XX


#235

Calgary prices go down esp. at the upper end:

cbc.ca/news/canada/calgary/a … -1.3302103

Vancouver prices become a bigger political issue:

news.nationalpost.com/news/canad … ina-buyers

And things are looking dodgy overall:

cbc.ca/news/business/cmhc-ho … -1.3294443


#236

Justin Trudeau must feel like a bit of a failure, moving back into his parents’ house at the age of 43.


#237

Technically he’s not, 24 Sussex is unsuitable so he’s moving into Rideau Cottage


#238

Way to spoil my joke :unamused: :smiley:

afaik he will move into 24 sussex once it’s been repaired


#239

One former resident wants to knock it down:

huffingtonpost.ca/2015/10/28 … 13468.html


#240

Our new Finance Minister is tightening mortgage rules:

cbc.ca/news/politics/morneau … -1.3360610