RE:RE:RE:RE:RE:RE:RE:RE:The message for HCG bagholders ...I live in Vancouver and my home has gone up 3-fold in value in the last 15 years. For those same 15 years people have een preaching about a housing bubble in Toronto pushing many buyers to the sidelines as early as bubble circa 2002 when the average house price in my hood was 350K.
"Its going to crash, look out below" they said. "There is no such thing as a soft landing" a lead short on Canadian housing said as recently as December 2015. "Sell your home and rent," and change all your money to US dollars and gold.
This advice would have cost hundreds of thousands to people who listened to this advice.
But some self proclaimed "experts" have been giving bad advice for the last 15 years and the fact that Canada did not suffer a housing crash in the great recession like the U..S. did still perplexes many Americans.
Over the next two months we will see if things stabilize in Toronto like they seemed to in Vancouver. But anyone saying they know
for sure what is going to happen is nothing but an outright liar.
Tater78 wrote: 300%? Do you just make up numbers?
And lets see see if you can answer the delinquency question I've asked every bull: Why would anyone default on a mortgage when they can simply sell the home for more than the mortgage?
I'm not surprised that delinquencies are low. Given how strong the price appreciation has been in homes I'm surprised there's any delinquent borrowers.
TraderBen wrote: Northforce13 wrote: When you studied the part about delinquincies vs collateral values what did you conclude.
I concluded that the value of the underlying collateral has gone up about 300% from when the fraud mortgages were put on the books and the short thesis was birthed in 2015.
Delinquencies are virtually non-existent and the economic numbers of late have surprised everyone - including me. And then there is this thing called CMHC insurance that Americans will never understand.
Where is the Vancouver crash that was supposed to be parabolic? I listened last year to a vocal short who said to put all my cash in US dollars and glad I only put half of what I had. I am down 12% on that trade and am starting to think that the loonie may reach 83 cents before year end.