RE:Oh, boy :(NOT a housing downturn
the prior year\s run up created to much froth in the market
govt stepped in to create an orderly reduction in runaway prices
in both BC/VCR and GTA.
housing market in CAnada is still very solid becaue the economic
fundamentals i.e. fulll employment, low inflation and still very very low
interest rates.
some people who bought last spring at the peak are suffering- they are now
underwater or lost deposits
we are talking maybe 1,000 to 2000 people tops who got burned
you are wildly overstating the case
company is profitable and will continue to be profitable
the housting market is not crashing- more a like a soft landing
there is tremendous untapped demand that will soak up any price drops, especially houses that are below $ 1mn.
you bloody doom and gloomers have been forecasting a crash for the past two years every month and you are wrong yet again.
HCG is trading at 67% of its NAV, is stil profitable.
should be able to refinance some its more expensive debt with bank financing and become a little more profitable as it has restored its capital base- overall demand is still off of its peak but company is in good position to generate decent earnings and the stock should be seeing closer to $ 20 in the next 12 months.
you need to find another hobby, this one is a waste of your time and talent.