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Thread: Imminent Housing Crash

  1. #41
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    I'm not serious.

    I quite enjoy reading Sugarphreak/bigmass/toma/broken_legs analysis on here. A round table discussion with them would be great.
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    In Beyond We Trust

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    Last edited by Cos; 12-28-2016 at 03:32 PM.
    Originally posted by adam c

    Line goes up, line goes down, line does squiggly things and fucks Alberta
    "The stone age didn't end because we ran out of stones"

  3. #43
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    Originally posted by G


    Why are you letting an unemployed guy fear monger you? He's like a BigMass but with a house.
    haha

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    I find it really difficult to talk to people who analyze the shit out of everything. I have learned that if you manage to stay in the "average" you will ride out almost any down....but on the other side of the coin you might miss out some ups but that just fine with me. People who want to profit from ups and downs are some special breed.

    It's not always about the money people....I enjoy my house so at the end of the day if I over paid a bit or if its not worth what I paid for it so be it...who knows what will happen tomorrow let alone 10-20 from now.
    Last edited by G; 05-07-2015 at 01:36 PM.

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    Originally posted by Canucks3322
    It boggles my mind that people like you think the NDP is going to "suck companies dry" with royalty raises.... How much do you run think theyre raising them by? 10000 percent? Geez calm down..
    Companies don't view an investment (Alberta in this case) like a person would. It's very black and white (or red). If the NDP raises royalties by 2%, that's money that could be invested somewhere else. Money is mobile, they will take it elseware.

    I"m not saying we shouldn't get a bigger piece of the pie, but we already have extremely high labour costs, combined with geography that doesn't help us. You add in higher royalties and we become less competitive.

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    Last edited by Cos; 12-28-2016 at 03:32 PM.
    Originally posted by adam c

    Line goes up, line goes down, line does squiggly things and fucks Alberta
    "The stone age didn't end because we ran out of stones"

  7. #47
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    Originally posted by G


    Why are you letting an unemployed guy fear monger you? He's like a BigMass but with a house.

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    ...
    Last edited by Sugarphreak; 08-13-2019 at 10:17 PM.

  9. #49
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    Housing is the fabric that holds our economy together. The government will destroy the currency before it destroys house prices. This isn't 1980 anymore. Housing and housing related parts of our economy like banks, financial institutions, investment firms, pension funds, construction companies, labor, etc make up a huge percentage of our GDP and would devastate the entire system if it crashed. Before a the government lets housing crash, they will lower rates to zero or negative like parts of Europe, they will pump cash in the form of QE into banks, they will print like they've never prunt before :p If you're seriously worried about a crash, the biggest thing you should be worried about is holding cash, not owning a house. Remember, this isn't the 80s or the 90s. The economic system is so intertwined now we no longer have the ability to isolate markets and isolate contagion. A crash in Alberta would effect the entire country and even investors outside of Canada. Back in the 80s a nuke could drop on Calgary and people out east would feel like it's another planet. Everything is too systemic now. A completely different ball game. Someone in Calgary farting could cause an economic panic in China. Central banks will not let a crash happen. %10-%15 sure. That's nothing. That just brings prices to where they were a couple years ago, who cares.

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    Originally posted by Sugarphreak
    Dammit, I need to get a token job so you guys stop calling me unemployed

    I don't think calling for a 12~16% reduction in house prices over the next year is really the end of the world either, it seems very realistic to me.
    what's %15 for someone who purchased a place for $500k 4 years ago and is asking $800,000 for it today? Nothing. Meaningless.

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    Originally posted by BigMass


    what's %15 for someone who purchased a place for $500k 4 years ago and is asking $800,000 for it today? Nothing. Meaningless.
    $500K house is worth at best $600K today if wear and tear is not excessive.

    Just saying.

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    Originally posted by Sugarphreak
    Dammit, I need to get a token job so you guys stop calling me unemployed
    I've heard InRich really looks out for his employee's.

  13. #53
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    Originally posted by Sugarphreak
    Dammit, I need to get a token job so you guys stop calling me unemployed

    I don't think calling for a 12~16% reduction in house prices over the next year is really the end of the world either, it seems very realistic to me. Most people gained more than that over the past 3 years too.
    alright chicken little... how many years have you been predicting this for now?

  14. #54
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    Last edited by Cos; 12-28-2016 at 03:32 PM.
    Originally posted by adam c

    Line goes up, line goes down, line does squiggly things and fucks Alberta
    "The stone age didn't end because we ran out of stones"

  15. #55
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    I love how so many people here quoted a % drop. Without stating from what time, the % is MEANINGLESS. "Oh the housing will probably only drop 10%." From where?? Congrats, you have said nothing that's understandable.

    Originally posted by BigMass
    Housing is the fabric that holds our economy together. The government will destroy the currency before it destroys house prices. This isn't 1980 anymore. Housing and housing related parts of our economy like banks, financial institutions, investment firms, pension funds, construction companies, labor, etc make up a huge percentage of our GDP and would devastate the entire system if it crashed. Before a the government lets housing crash, they will lower rates to zero or negative like parts of Europe, they will pump cash in the form of QE into banks, they will print like they've never prunt before :p If you're seriously worried about a crash, the biggest thing you should be worried about is holding cash, not owning a house. Remember, this isn't the 80s or the 90s. The economic system is so intertwined now we no longer have the ability to isolate markets and isolate contagion. A crash in Alberta would effect the entire country and even investors outside of Canada. Back in the 80s a nuke could drop on Calgary and people out east would feel like it's another planet. Everything is too systemic now. A completely different ball game. Someone in Calgary farting could cause an economic panic in China. Central banks will not let a crash happen. %10-%15 sure. That's nothing. That just brings prices to where they were a couple years ago, who cares.
    Real estate is area limited, so none of that applies. A 25% crash in Calgary (from today) will have little impact on Canadian monetary policy.

  16. #56
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    I don't buy into this doomsday business.

    I'm not saying the NDP is going to do an amazing job or anything. Nor am I going to say that they aren't going to make mistakes that hurt our economy. However, at *worst*, they mess us up and we revert to a non-NDP government next time around.

    At best, they actually manage to grow a strong economy for Alberta once oil prices recover.

    Either way, I don't see the panic. There might be a reduction in the short term, but we'll all be just fine once everything works itself out.

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    ...
    Last edited by Sugarphreak; 08-13-2019 at 10:17 PM.

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    Yeah, isn't that adorable, he thinks he's Nostradamus.

    Here's hoping for a giant royalty, a provincial oil company, and a sovereign wealth fund

    No jobs lost, the crown can recruit their personnel to take the oil if the fat cats want to take their ball and go home.

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    Prices in Calgary are already stupidly over-priced.

    Again. I'm waiting on the fence. I put a offer in a house last week, and it was rejected. Now the idiot just lowered his price and called my realtor back.

    SORRRYYYYY.

    Again. Time to wait for another 7 months to buy again.

  20. #60
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    Originally posted by 7thgenvic
    Prices in Calgary are already stupidly over-priced.

    Again. I'm waiting on the fence. I put a offer in a house last week, and it was rejected. Now the idiot just lowered his price and called my realtor back.

    SORRRYYYYY.

    Again. Time to wait for another 7 months to buy again.
    If you don't currently own, I would wait until winter, months after all the seasonal O&G workers don't get re-hired after the summer lull, and start getting desperate.

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