Thanks Dan.

Looking forward for attack the Logic.

Commodity (including RE) price can not stay constant for long. We have highest RE price/Rent and price/earning ratio ever seen in North America. One more bad news for our export that Obama is announcing government spending restraint tonight. Problem is uncontrolled debt at personal and govt level. Very few people can get benefits from tax credit or cheaper money. But mostly get into more debt.

Buy for $609,000 (#C3407933)
or rent for $1500 the same house.
http://www.rentfaster.ca/Calgary-Apartments-For-Rent/Renovated-Rosedale-25933. Price/Rent ratio of 406 !

Why would you like to buy this house when rent is so cheap?
How Govt. does sponsored economy going to impact by spending restraint news.
Why can RE price not go down further in Canada? (We already saw 10%-15% from peak.)
What going to happen with 10/30, HST and/or higher interest rates?
What are expert’s advices for newly buyers (0/40, 5/35) who are/will be in negative equity?



Savings, staying within means, investment, exports, make private sector/investment/research competitive and $$$ availability, attracting world best talent, govt regulations ( not controlling market), free market forces, cheaper living cost is way to see +ve growth and employment.

Quote:

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Originally posted by dan
Indeed, a lot of cut and paste work by this guy. It's like Boris Becker used to try and be very intellectual, forgetting that tennis was his competency. He would cut and paste other's views all the time.

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I mean no offense.

I have read a hundred and odd posts by this rahul singh. I am just a little bewildered, and also confused. Does he work for a lobby, or a special interest group? This is my genuine concern, and doubt. I am NOT passing any aspersions on him as a person - just curious whether he has "handlers"?

Once again, no one without a vested interest would try to ram into a large forum's throat, relentlessly, thousands of pages of cut and pasted articles to support the end of an industry.

I can understand one's commitment, and firm belief, but to suggest that judgment day is round the corner for the home buyers.............?

If we can believe in extra terrestrial intelligence, just a question from an agnostic: is some cloak and dagger stuff going on here?.

If you disagree with me, please be civil - no personal attacks please - I have seen too much here.

Quote:

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Originally posted by WEST-IS-THE-BEST

I mean no offense.

I have read a hundred and odd posts by this rahul singh. I am just a little bewildered, and also confused. Does he work for a lobby, or a special interest group? This is my genuine concern, and doubt. I am NOT passing any aspersions on him as a person - just curious whether he has "handlers"?

Once again, no one without a vested interest would try to ram into a large forum's throat, relentlessly, thousands of pages of cut and pasted articles to support the end of an industry.

I can understand one's commitment, and firm belief, but to suggest that judgment day is round the corner for the home buyers.............?

If we can believe in extra terrestrial intelligence, just a question from an agnostic: is some cloak and dagger stuff going on here?.

If you disagree with me, please be civil - no personal attacks please - I have seen too much here.

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There’s one more lesson to take away from the U.S. experience. Once it was clear America was in dire straits, many asked: why didn’t anyone see this coming? The easiest answer is that as long as everything kept humming along smoothly and everyone was benefiting from the borrow-and-spend culture, most people simply chose not to look. If we’re going to avoid our own debt explosion, maybe it’s time to open our eyes.

http://www2.macleans.ca/2010/02/02/awash-in-a-sea-of-debt/

..........Even before the recession began, Canadians were up to our eyeballs in debt. Since then, we’ve slipped below the surface. Over the last two decades, mortgage debt in Canada has nearly quadrupled to almost $1 trillion. At the same time Canadians have fallen in love with plastic. Credit card balances are up fourfold in just 10 years to $54 billion. Credit card companies repeatedly point out 70 per cent of card users pay off their balance each month. But many borrowers simply shift money from one form of debt, like their Visas and Mastercards, to another, like personal lines of credit. In the early 1990s, lines of credit were rare. Only about $4 billion had been drawn down. Today that figure stands at $200 billion, a staggering 4,800 per cent increase...................

Why bother with all that math, all that cut n paste job Rahul?

The world is coming to an end on 21st December 2012.

Doomsday is here! Hurray!

Two cheers for Rahul .

PS: Apologies to the Mayans. This time you don't get any credit for predicting doomsday.

why the world will end - For those interested in serious reading............

http://www.circlesoflight.com/reality-creation/world-end.html

-How many CanadianDesi think that Jim FLAHERTY will bring 10% down with 30 yrs mortgage on March budget?

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Wall Street Journal
Housing Rebound in Canada Spurs Talk of a New Bubble

http://online.wsj.com/article/SB10001424052748703808904575025100730017666.html

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Globe & Mail

Most housing watchers insist Canada is not in a bubble just yet. But tight supply, extreme valuation, and easy credit have some fearing the worst

http://www.theglobeandmail.com/report-on-business/the-making-of-a-housing-bubble/article1460610/

A bubble is a bit like the famous description of hard-core pornography uttered by the late U.S. Supreme Court justice Potter Stewart, who could not come up with a definition: “I know it when I see it.”

Or do we?

Bubbles remain hard to define, difficult to measure and, like recessions, can only be accurately assessed after they have burst. Economists have wrestled with bubbles for generations, but have yet to devise an adequate scientific means of analyzing them, comparing them or providing us with an early warning system that would safeguard from their worst effects.

Mr. Rosenberg pronounced Canadian housing in a bubble late last year, fuelled by the usual culprits: tight supply, extreme valuation, and dramatic credit expansion.

Mix in easy mortgage conditions luring more people to jump into home ownership – the current national rate of 68.4 per cent stands at an almost 40-year high and a full percentage point above the U.S. level – and you have the recipe for a classic bubble.

“Housing values are anywhere between 15 and 35 per cent above the levels that I would label as being consistent with fundamentals.”

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High prices, low mortgage rates, insatiable demand. . . Are we looking at a bubble?

http://www.theglobeandmail.com/report-on-business/the-tale-of-canadas-hot-housing-market/article1460581/

Rock-bottom interest rates and impending HST in Ontario and B.C. are adding fuel to already hot market

http://www.theglobeandmail.com/report-on-business/home-prices-on-course-to-hit-record-highs-in-2010/article1460606/

The projection is likely to raise the temperature on the debate over whether the recent price increases are sustainable, given that the Canadian economy is only just emerging from a sharp recession, job creation remains muted and interest rates are set to rise. Home prices in December were 19 per cent higher than they were a year earlier, a startling jump that has alarmed the country's top bankers.

Some bankers have privately urged the government to cool the market by tightening the rules for mortgages.

The doomsday prophet goes "on and on and on"............ (apologies to ABBA)