Recent content by paperchopper

Interesting how posts magically disappear on this forum, I'm quite surprised that the entire thread and any mention of a bubble hasn't been neatly sanitized yet. Anyways, I'll stick to my hypothesis that CN Tower is mentally unstable, by stating facts then, oh man, I can't even address it...

I've never heard of a bank that would require mortgage insurance on a mortgagee putting 50% down, in fact, you could have shopped the banks for the lowest interest rate. There is virtually no risk for the bank as it has a very wealthy cushion should you default, and you have very strong...

CMHC's liabilities are quite large, I recall seeing $800B before or so, perhaps it is $600-700B, that is a very scary number considering that there is only $1T of mortgage debt in Canada. So 60-70% of "homeowners" couldn't pony up the 20% downpayment. Furthermore, the banks themselves would...

Calgary down 25% YOY last month Resales down 9.6% or so in general from last year overall in Canada Listings to sales ratio steadily increasing........

Yeah, you're right-- could have been that Justin Biebr concert out in LA, the disappearance of the Double Down or two mysterious rock colliding in space. Hahahaha The answer is simple, demand is down, assuming those numbers are correct, which they're most likely not. Those are resale numbers...

A 15% dip is indeed statistically significant, perhaps you failed statistics? :-)

Ric, can you use your realtor connections and try to call the Brampton RE board and ask them why they haven't published their #'s? I'm just curious, because anecdotal reports from Brampton are in direct opposite of what those TREB #'s say, you can get a 6000 sq ft Italian Villa in Caledon for...

Yeah, Ric, I don't believe those numbers for a second. http://www.bramptonandarearealestate.com/2010_Residential.html Straight from the horses mouth, no #'s released. Why on earth would they stop reporting #'s if they're all fine and dandy? I know people personally trying to sell and no...

Interested, honestly, I'm not clairvoyant, and nobody else is on Wall Street. It's all about risk, the probability of something unwanted occuring. People make money on Wall Street by consistently playing risk right, not by predicting the future. That's impossible. Right now, IMO, cash and gold...

Furthermore I would say that approximately 80% of our mortgages were Fannie or Freddie mortgages, and we traded about $70 billion a month. Our desk wasn't even that big. That's what caused the RE bubble.... subsidizing mortgages and allowing people to run up prices. If RE were a normal market...

That's exactly what caused the mess-- government regulation. The US federal government created Fannie and Freddie, and they took any risk off the banks making mortgages. The same exact thing has happened in Canada with the CMHC-- the federal government has allowed the banks to make gigantic...

I didn't mean bankrupt literally per say, well perhaps Canada will resort to an IMF Loan just as Ireland and Iceland did, who knows, but more in the terms of rampant deflation/biflation as banks and debtors attempt to deleverage. Money will be in short supply, hence the deflation. People will...

I think 'brutal' and 'reckoning' are a bit more imperative than irrational exuberance, considering the fact that the first refers to a classic RE bubble has unfolded many times and catastrophically crippled most developed economies, whereas the latter at the time was an unseen valuation on a new...

People aged 25 to 34 — generally the age range when younger people are getting established in the workforce — had a median income of $29,961 Also the prime pool of buyers for $300-400K condos, at 10-13x income (y) Also love how income has DECREASED, yet housing has nearly TRIPLED ROFL!!!

More overheated markets tend to crash harder, and when bubbles burst it's always violent. Vancouver, Toronto and Montreal will get rocked hard. Based on the average Toronto income of about 45k there is no way that a home should cost more than $200k, historical average is 3-4x. I know the...