THE Mother OF ALL HOUSING CRASHES – The Canadian housing current market is about to crash. A bubble because 1996 is going to burst. This is a domino slipping in front of your really eyes. Evergrande is nothing in comparison.

THE Mom OF ALL HOUSING CRASHES – The Canadian housing industry is about to crash. A bubble considering that 1996 is going to burst. This is a domino slipping in entrance of your very eyes. Evergrande is nothing in comparison.

THE MOTHER OF ALL HOUSING CRASHES – The Canadian housing market is about to crash. A bubble since 1996 is going to burst. This is a domino falling in front of your very eyes. Evergrande is nothing in comparison. from Superstonk

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46 replies on “THE Mother OF ALL HOUSING CRASHES – The Canadian housing current market is about to crash. A bubble because 1996 is going to burst. This is a domino slipping in front of your really eyes. Evergrande is nothing in comparison.”

My friend bought a house for 220k in a town an hour outside Ottawa but 100k into it over the course of four years and just sold it for 750k

THIS! This is not just a USA matter. Our neighbors in Canada are going through it as well. The 99% against the 1%. Not Dem vs Rep.

It won’t crash, but not for the reasons you think. Canada has the worst housing market in the world but the system is designed so that it can be artificially inflated almost indefinitely.

The demand so far outweighs the available supply, tax regulations around corporate renting and corporate land ownership so lax, and politicians personally benefitting from housing price increases so much, that nothing will ever be done to fix this and it is unlikely to go away any time soon. Toronto just met its 2005 housing targets last year and we’re building homes faster than at any point in Canada’s history. Over 1 million homes were built between 2011 and 2021, which is insanely fast. But the demand is there because we have more people than places to house them.

Couple this with the fact that our job market is in shambles and the vast majority live pay check to pay check (or on rotating debt cycles), and you get this never ending carousel of housing spikes. So many other aspects of the Canadian economy are tied into housing that a major correction of the real estate economy cannot be done without tanking the rest of the market. In short: we’re *massively* fucked.

we largely avoided the 2008 housing crisis so this one will be worth double.

Just sucks that this likely wont benefit anyone except blackstone or institutional investors.

Very well spoken talking points from someone who absolutely understands what is happening. Sickening.

In ’09 I bought at 175k, zillow has it at 375k. If the house was better condition I mightve sold, but I honestly enjoy paying my $1120 mortgage, where I see neighbors renting for $2000-$2500. The new builds aren’t worth it at $300k either with no space between neighbors and duplexs

Evergrande built ghost cities. Quite different. These morons who are choking their working class are only shooting themselves in the foot long term (then again, how many ceo look passed the next quarter?!?). If workers can’t afford to live near where they work, they will move and find work elsewhere. Who will you hire???

Edit: Some are saying robots/automation. That may help in manufacturing positions but not many others sectors yet. But what about the economic impacts if there be no consumers around to consume? The economies are consumer based for the most part. If you need people for the models to work and you start squeezing these people away, then what? My numbers looks good, quarter 3 are on someone else? No long term outlook??

They were trying to pass legislation so that no foreign citizens/investors could purchase a home for at least 2 years… that’s a lot of crashing incoming

The great reset was never about making housing affordable. You either got in before the melt up or “you’ll have nothing & be happy”.

Supply vs demand tells a story of where I think prices are headed. Not an economist.

Time will tell.

He said the quiet part out loud, finally finally finally, someone has made this an issue publically and called out his and the ruling party while doing it even.

I live in Québec and there are almost no homes for sale on the market, so every time one is listed the price is high as fuck and people over bid on it.

I don’t see how it can crashes as long as the demand for homes is there. For it to crash I think there would need to be much more homes for sale.

How could the prices of homes go down if the demand is high as fuck ? Interest rates would need to be much higher, and if they raise the rates it’s still gonna take a couple years before it crashes.

It’ll only get worse in a market crash. Deep pockets will buy up everything they can when people can’t afford to pay their mortgages and will be forced to sell or go into foreclosure.

I did some work in Canada 10 years ago now, the people I talked to then were complaining how they Chinese were coming in and buying everything up and then jacking prices up to insane levels.

I work for an engineering consulting firm in Ontario and it’s absolutely crazy how fucked we are. Take a look at any political donation list and 80% of campaign donations in municipalities appear to be coming from housing developers. Sound decisions are not being made when planning, approving, or designing communities. We have a supply issue, but the process is so cumbersome you basically have to be chummy with the council or civil servants to get approved. The process is so rigid they can find any excuse to deny a bid, what ends up happening is only major conglomerates that have a lot of leverage are the only ones that can keep up the fight for approval and all the honest small developers just sell out to them. Then they swing their multi billions around to get political privileges and then end up basically controlling the development process through political lobbying.

Opinion: At the end of the day, this isn’t leading to better, sustainable communities, it’s leading to expensive housing that will just compound over time increasing deficits that we the taxpayers will have to cover because it costs way more to service these developments. It’s also a political tool because basically most municipal capital money comes from taxing new developments, so if a councillor cares about showing a flashy rec centre they may be inclined to just pressure an approval to get some money to pay for their political project. There’s no oversight and these decisions lead to real long term deficits.

For perspective, Ontario has the highest sovereign debt of any jurisdiction in the world. Even higher than California. It makes no sense.

The biggest economic collapse in the world is about to occur. Every country you look at is on the brink of a collapse. We’re just waiting for that final straw

Perfect time to sell your home, rent and go all in in GME 👀

As my grandma used to say … yolo

Family friend in Ontario bought a house for $280k, they bid 30k over asking. Just shy of 2 years later, they listed the house for $340k and it sold for $395k and the only work they did to it was paint the walls and cabinets.

His solution actually sounds solid. Keep out foreign investors and Corperation a from
Purchasing. You want a single family home, better be a single family.

I bought a house is May 2017 for $204,000 (Canada) and sold that same house in January for $498,000. I had spent roughly $5,000 in maintenance and cosmetic updates. I was blown away at the sale price, and I genuinely feel bad for the buyers, knowing what’s coming..

A few years ago I bid on my dream house just over asking. I was outbid my a mega landlord and now that house is back on the market for £150k more than previous, putting it even further out of my reach. UK is fucked too and I hate it here.

Is this part of the push for “you own nothing and will rent everything” global economy reset?

Outrageous. Im so fucking angry. This culture of rewarding greed is toxic, and we need to openly blame our governments for allowing it and therefore stabbng their own peoples backs. We need to demand they stand up to this putrid epidemic of grotesque vulture capitalist disease.

Vancouverite here… Been waiting for it and saving for 20 years. At this point, I don’t even give a fuck. Been saying how high land values suck all the money out of the local economy and pump it into finance. It affects a business or a person at so many levels. There is no diversification and no velocity of money outside construction and real estate sales-related entities.

I highly doubt it’ll keep crashing in the long term due to the enormous immigration numbers that also brought me here. Canadian economy will only halt when immigration slows down to a net negative.

This isn’t to say there won’t be a flash crash with a quick bounce back.

Canadian ape here.. And it is 100% crazy! I live in a tiny shit city across from Detroit, housing prices and not to mention rent is insane!! I’m looking to move to a 3 bedroom. Used to be able to get one for 1k, they’re now 2k and over

Homes should not be investments. 1 house per family that’s it. Corporations shouldn’t be allowed to buy up single family homes.

This video speaks nothing of a crash, just that individual home buyers are getting fucked

I understand the problem but that’s a pretty tinfoily prediction. Also what does this have to do with stonk?

It doesn’t sound like it’s going to crash at all, from what he’s saying. Unless you mean “crashing upwards” into further unaffordability. A crash would be a sudden increase in availability and massive reduction in pricing.

They need to make the changes he’s talking about to help improve the situation but even with those changes i would not expect a crash. There is so much pent up demand that even if the market dips, it won’t crash, there’s so many people who need to buy the prices won’t drop massively.

It won’t crash. 10% correction, maybe. So remove the over bids and buyers placing offers without subjects.

But I’m not a professional, this is my opinion.

No. This is a complete fucking lie. The sooner you abandon this type of thinking the faster you get closer the crux of the problem.

Here’s what’s happening:
A. Rich people are the greediest fuckers on the planet.
B. Best way to maintain wealth is to get as much of it as possible.
C. You can’t be stupid or else your wealth will leak away.
D. When BoC printing 20+% of all CDN that’s ever printed since the pandemic, the rich recognizes “C.”, then activates “B.”
E. BoC printed all that fucking money meant low low low low low interest rates, so it became cheaper to load up on debt and margin, so the rich who are “C.” eyes the equities market, real estate, and anything to avoid the having money.

It’s just a natural reaction to what BoC did. Printing money to pay for the CERBs, buoy the closed down businesses, all things that a lot of people THINK are doing good, will in fact last short term. The long term effect is the greatest inequality that’s ever produced. Did corporate profit seeking or greed suddenly popped up since the pandemic? Are these newly discovered psychological behaviors and emotions? They existed as early as neurons started to synapse. The guy is a fucking moron.

This guy fux. He’s well spoken and prepared. I’ll follow him more closely.

However, I disagree that a crash is coming.
He’s right that the home has become a asset class that has become part of a larger financial markets.
From a human perspective it’s terrible, people should be housed. We should be doing more to provide housing at an affordable price.

From a capitalist stance, it’s a large expensive asset with intrinsic value that has high demand due to its critical function in modern human existence. It’s growing demand is also constrained by physical space and incredibly expensive infrastructure.

A future where a exclusive group of very wealthy people own a significant portion of homes, effectively monopolizing human housing is terrifying.

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