Canada recession looming?
Jun 30th 2012, 4:44 pm
#31
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Joined: Jul 2009
Location: Toronto
Posts: 220
Re: Canada recession looming?
On another note: WE have AWESOME fish and chips in our village!!
:-)
Jun 30th 2012, 4:48 pm
#32
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Joined: Jul 2009
Location: Toronto
Posts: 220
Re: Canada recession looming?
It is and i love it! But i am a kept woman, my hubby does pretty well for us. But i can see others struggling. Schools dinners are a tenner a week per kid, and some families really have a hard time with that. I love the UK and all of its craziness...but I am lucky and I get that. Others may not have my circumstances. :-)
Jun 30th 2012, 4:55 pm
#34
Joined: Aug 2005
Posts: 14,227
Re: Canada recession looming?
Not sure how successful that strategy has been for the UK to get its housing market back to health.
I've lived in South Cambridgeshire for the past 10 years until very recently. Where the general cost of living has gone up tremendously since 2008 (50 pound weekly Tesco shop ballooned to 80/90 pounds, to give just one example), rents in our area have actually *gone down*. So have house prices, but not as much as rents.
As per usual for a house price boom, if you bought a UK house at the top of the market (2006/7/8), there is no way in hell that the rent will even remotely cover the mortgage.
I've lived in South Cambridgeshire for the past 10 years until very recently. Where the general cost of living has gone up tremendously since 2008 (50 pound weekly Tesco shop ballooned to 80/90 pounds, to give just one example), rents in our area have actually *gone down*. So have house prices, but not as much as rents.
As per usual for a house price boom, if you bought a UK house at the top of the market (2006/7/8), there is no way in hell that the rent will even remotely cover the mortgage.
Still, my guess for house prices here would be a limited nominal drop and then more or less static for years while inflation catches up.
Last edited by Alan2005; Jun 30th 2012 at 4:57 pm.
Jun 30th 2012, 4:56 pm
#35
Beep
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Joined: Jan 2009
Location: Here
Posts: 8,311
Re: Canada recession looming?
The unemployment rate is so low because it does not include everyone on Welfare/Social, take a look at that percentage. I am currently in Yorkshire and it has a very high percentage of families on assistance. Also they do a lot of top up here, which keeps the figures low. A person can work 20 hours a week before it touches their benefits/credits. Most of the moms I know are working but they do 20 hours in a grocery shop and not a minute more. With 3 kids under 16 a person gets about 200 pounds a week + 20 hours wages (at what ever wage you can get)
On another note: WE have AWESOME fish and chips in our village!!
:-)
On another note: WE have AWESOME fish and chips in our village!!
:-)
Jun 30th 2012, 5:04 pm
#38
Beep
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Joined: Jan 2009
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Posts: 8,311
Re: Canada recession looming?
Something like that.
Jun 30th 2012, 5:08 pm
#39
Joined: Aug 2005
Posts: 14,227
Re: Canada recession looming?
Anyway - a good economic indicators is food bank usage which has gone up every year I've lived here.
Jun 30th 2012, 5:41 pm
#42
Every day's a school day
Joined: Jan 2005
Location: Was Calgary back in Edmonton again !!
Posts: 2,667
Re: Canada recession looming?
From my experience i think Alberta is all but bullet proof for the next few years...compared to other provinces
Jun 30th 2012, 6:19 pm
#44
half a century
Joined: Mar 2008
Location: Sarf Lundun to East Van :)
Posts: 10,222
Re: Canada recession looming?
I am referring to the overinflated Van market, so that people on a normal inco£e. Could afford to buy! I am fine with it dropping, even as a. Home owner here - it is way over priced.
Jun 30th 2012, 6:25 pm
#45
Joined: Aug 2005
Posts: 14,227
Re: Canada recession looming?
Yes. How can anyone; even on decent income afford it here? Even those with a family income of $200k will either only be able to buy a shit hole or be paying all their income to banks as interest for the rest of their lives.