2008 US housing market and recession?

[Subwoofah]

If a recession hits the US, will Canada go into a recession as well? Since the housing market is going down in the US, will it affect the housing market in Canada? And when is the best time to buy a house in the US?

[Crymson]

We avoided the last recession in Canada, that struck the US. How that compares to this one, i don't know. I'm sure we'll feel some effect, but i couldn't guess to what extent.

[sullygully]

All i can say is i fucking hope so! Because thats the only way i'll be able to buy a house.

[Antonito]

Originally posted by sullygully
All i can say is i fucking hope so! Because thats the only way i'll be able to buy a house.

as long as you're able to keep your job....

[Jlude]

Originally posted by Antonito


as long as you're able to keep your job....

hahah exactly... it's not really gonna be a good thing if we feel the effects as well

[modded46]

as many have seen in my threads I'm moving to the US if everything goes well with my immigration interview coming up so seeing the housing market and jobs dwindle is a catch 22.. Yes, lower housing prices are a good thing for moving but as someone else stated, if you don't have a job then who cares how much the price of a house has gone down.. hehe

I truly believe that if there is a recession it will be short lived and things will get back once the major losses that these companies are suffering get leveled out.. Everything goes in cycles and it's just their turn right now to cycle on the downside considering how long it's been since they've had a downturn in the US economy..

You are starting to see a downturn in Canada, the difference being is that Alberta seems to be immune at this point and I think that trend will also continue

[Subwoofah]

""We're not at recession, but we're definitely in the same room," said Douglas Porter, the Bank of Montreal's deputy chief economist.
"We have seen Canada avoid following the U.S. into a recession before, but we can't completely go in the opposite direction. It will have an impact on our economy."
The dark clouds are not only coming from the U.S.
"
http://www.ctv.ca/servlet/ArticleNew..._name=&no_ads=

[88CRX]

Originally posted by sullygully
All i can say is i fucking hope so! Because thats the only way i'll be able to buy a house.

Originally posted by Antonito


as long as you're able to keep your job....

Exactly... if there's a recession like some people are hoping for (to lower housing prices) it means people, lots of people, are loosing their jobs.

Good luck buying a house when you can't get a decent paying job or any job for that matter in Calgary.

[modded46]

One thing that I think is very ironic is that I'm on several US forums and a few Canadian ones such as this.. You rarely if ever see a thread like this on a US forum about the US economy or housing prices etc..

I personally think that Canadians worry way too much about things that they have no control over.. Life is going to change.. There is no doubt about it.. People see news that the US economy is bad right now and everyone freaks out.. Yah there have been layoffs and closings but at the same time there are still a lot of people making very good money and living life as normal.. People who are in a completely unrelated field than real estate haven't noticed a slowdown at all.. It really all depends on how you look at things..

So as i've said many times.. RELAX!! Enjoy life and be aware of what's going on in the world but don't think that it's the end of the world just because others are having issues..

[Crymson]

It's hard not to worry though. the only way the US can deal with a recessesion that is triggered by a massive write down in debt is to force 10-12% inflation on their population. This will innevitably impact us, by devalueing the US currency even further and slamming our manufacturing and resource sectors even further.

Ron Paul, 08!

[Light_Speed]

Originally posted by modded46
One thing that I think is very ironic is that I'm on several US forums and a few Canadian ones such as this.. You rarely if ever see a thread like this on a US forum about the US economy or housing prices etc..

I personally think that Canadians worry way too much about things that they have no control over.. Life is going to change.. There is no doubt about it.. People see news that the US economy is bad right now and everyone freaks out.. Yah there have been layoffs and closings but at the same time there are still a lot of people making very good money and living life as normal.. People who are in a completely unrelated field than real estate haven't noticed a slowdown at all.. It really all depends on how you look at things..

So as i've said many times.. RELAX!! Enjoy life and be aware of what's going on in the world but don't think that it's the end of the world just because others are having issues..

went to houston to work a few months ago
no one there seems to care/worry to much about it
go back to work in calgary and everyone is talking about have bad the US economy is

[Bimmer88]

Originally posted by Light_Speed

went to houston to work a few months ago
no one there seems to care/worry to much about it
go back to work in calgary and everyone is talking about have bad the US economy is

So true... at college our whole economics class talks about this... sigh...

[HRD2PLZ]

In the Phoenix/Scottsdale area people don't seem to be worried. Maybe because a large portion of the Scottsdale residents are retired, but since I have been down here I have seen quite a few new vehicles with the temporary registration tags. TONS of houses on the market here though, but talking to our Realtor here, some of them are moving. She said its mainly the lower income people that got hit. Overall though, from people we have run into down here, they don't seem to be too worried. The biggest worry here seems to be the abundance of illegal's coming into the country and not paying taxes.

[autosm]

Originally posted by HRD2PLZ
In the Phoenix/Scottsdale area people don't seem to be worried. Maybe because a large portion of the Scottsdale residents are retired, but since I have been down here I have seen quite a few new vehicles with the temporary registration tags. TONS of houses on the market here though, but talking to our Realtor here, some of them are moving. She said its mainly the lower income people that got hit. Overall though, from people we have run into down here, they don't seem to be too worried. The biggest worry here seems to be the abundance of illegal's coming into the country and not paying taxes.

I am in AZ now . With the amount of building going on here you would never even think of using the recession word .

Hows brand new 3200+ square feet with 4 car garage for less than 300k ? 1500sq 2 car for 130k .

[Canmorite]

Originally posted by autosm



I am in AZ now . With the amount of building going on here you would never even think of using the recession word .

Hows brand new 3200+ square feet with 4 car garage for less than 300k ? 1500sq 2 car for 130k .

If it wasn't so damn hot in AZ, it might be more appealing...

[spikerS]

if i could convince my wife to move, we would have been in the states along time ago.

[ercchry]

Originally posted by 88CRX




Exactly... if there's a recession like some people are hoping for (to lower housing prices) it means people, lots of people, are loosing their jobs.

Good luck buying a house when you can't get a decent paying job or any job for that matter in Calgary.

yeah my uncle was talking about this over christmas because i was telling him im thinking of buying a place, he said just wait a year because shit is going to hit the fan very soon, he is on the board of some public company and they are throwing around the idea of laying off 30% of the workers.... and his company had there worst quarter in 20 years.... oh and incase you haven't guessed yet he is in oil and gas

[HRD2PLZ]

Originally posted by autosm



I am in AZ now . With the amount of building going on here you would never even think of using the recession word .

Hows brand new 3200+ square feet with 4 car garage for less than 300k ? 1500sq 2 car for 130k .

I guess it depends where in AZ you are looking. I am in North Scottsdale now and most of the new builds where I am are north of $1 Million.

[Subwoofah]

Originally posted by ercchry


yeah my uncle was talking about this over christmas because i was telling him im thinking of buying a place, he said just wait a year because shit is going to hit the fan very soon, he is on the board of some public company and they are throwing around the idea of laying off 30% of the workers.... and his company had there worst quarter in 20 years.... oh and incase you haven't guessed yet he is in oil and gas

what does your uncles company do?

[autosm]

The Area is called Queen creek its about 15 min from Mesa. A bit of a drive but stupid cheep .