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Toronto is a growing danger to itself and the communites surrounding it. On the page there is video that corresponds with the article, a good watch. The pundit from the bank was saying the that crazy prices gains spreading as far as peterbrough and hamilton. Personally I think the bubble is in other major communties south of toronto which surround the 401 highway as far as london.
The pundit was saying that dont worry its in toronto and the surronding communities. What I will point that the greater toronto area has population of 6.4 million as of 2016. Thats almost 1 in 5 of all canadians, thats is significant.
What about ontario? 14 million
Thats 47% of people of ontario live in community that is experiencing a housing bubble and I think that is conservative.
I have been talking about the bubble for half a decade now. I do not know when the end will come but it with end with a ton of misery. Right toronto is growing at +20 % a year, can we reach 30% or 40% ? with a inflation rate at minus 2%. What can go wrong in this situation
Some argue that the bubble is in almost every urban area of Canada.
In my previous post I proposed a question just how far can market go before the crash. We I thought it would not go beyond the mid 20's. Data for the GTA month of march the average selling price was up 33.2 percent over the year. Roughly 688,000 to 916,000, I salute you brave gladitors you have truely you found a way to turn base metals into gold.
Just look at John Tory's face in the article. They all must know how this will end but there scared to be blamed for the lose of the good times. Even the big banks most be getting very worried about this but must of the money must be coming for the shadow bank sector(non traditional lenders). At this point dont worry be happy because nothing can be done mitigate the ditaster.
I think we could go maybe 45% year on year at this point.
There is an article and video clip association the BNN web site. I thought to myself nothing would surprise at this point in regards to the housing bubble. Here it is.
A majority of canadians 54% believe that home prices will NEVER FALL. Let that sink for a while. I watch BNN quite a bit it largely unheard to hear a guest use the word panic to decsribe the housing market in any way. And add to craziness the artilce at the bottom has a poll. 22% of those clicked the survey thought the prices would never go down. After reading the article and maybe watching the BNN clip they still think the price will not go down. My conclousion is this going end so so bady, 54% of the public will not know what hit them.
It's interesting that in 10 years as PM, Harper whose degree was in economics, did nothing about the housing market bubble. Presumably it would have endangered his power; so much for economic responsibility. The Liberals have cautiously done *something*.
This is a gem. I heard of this event in passing in the media. I reasearched this event online becasue it sounded to bubble rollcuster ride but I can not find much in the media. My search was not in vain, so I present to you the rabble viewer an example of mass delusion.
this home lender could be in world of hurt. Its been supplying credit to the bubble if believe that their is one.