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Canada recession looming?

Canada recession looming?

Old Jun 30th 2012, 7:42 pm
  #46  
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Default Re: Canada recession looming?

Originally Posted by The4BellsLondon
Why thank you 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.
My profound apologies. I tend to get a bit annoyed by comments which appear to run along the lines of "if I can't have it, neither can anyone else", when it comes to things like the cost of housing, or public sector wages and benefits. Again, sorry if I offended you.
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Old Jun 30th 2012, 7:53 pm
  #47  
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Default Re: Canada recession looming?

even after selling our house we cannot afford to retire here!
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Old Jun 30th 2012, 7:59 pm
  #48  
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Default Re: Canada recession looming?

Originally Posted by YoshiPal2010
My profound apologies. I tend to get a bit annoyed by comments which appear to run along the lines of "if I can't have it, neither can anyone else", when it comes to things like the cost of housing, or public sector wages and benefits. Again, sorry if I offended you.
No worries xxx
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Old Jun 30th 2012, 8:06 pm
  #49  
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Default Re: Canada recession looming?

Hi
Yep lean times ahead me thinks also.
maybe a change of government is needed, national and provincial.
and see how a change of tack does..
cheers
Jerry
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Old Jun 30th 2012, 8:29 pm
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Default Re: Canada recession looming?

Originally Posted by YoshiPal2010
...or public sector wages and benefits. Again, sorry if I offended you.
You get a bit annoyed when people comment on others who get things they don't really deserve on merit or have worked for?
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Old Jun 30th 2012, 9:03 pm
  #51  
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Default Re: Canada recession looming?

Originally Posted by didikai
I think you'll find that whatever 'Official' figures are released have been, or can be tweaked to suit.

Back to you
Great retort.
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Old Jun 30th 2012, 9:28 pm
  #52  
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Default Re: Canada recession looming?

Originally Posted by Alan2005
You get a bit annoyed when people comment on others who get things they don't really deserve on merit or have worked for?
So you think that people who do jobs that you, perhaps, feel are beneath you, should not get a remuneration that reflects the unattractiveness of the job. I hope you are comfortable, sitting on your arse in your cubicle, when other people are removing your trash, fighting fires, taking care of the sick, cleaning-up after your, no doubt perfect, children in their school. What an obnoxious twit!
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Old Jun 30th 2012, 10:28 pm
  #53  
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Default Re: Canada recession looming?

Originally Posted by YoshiPal2010
So you think that people who do jobs that you, perhaps, feel are beneath you, should not get a remuneration that reflects the unattractiveness of the job. I hope you are comfortable, sitting on your arse in your cubicle, when other people are removing your trash, fighting fires, taking care of the sick, cleaning-up after your, no doubt perfect, children in their school. What an obnoxious twit!
Can we cut the school yard name calling?
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Old Jun 30th 2012, 10:53 pm
  #54  
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Default Re: Canada recession looming?

Originally Posted by el_richo
Great retort.
One does what one can......
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Old Jun 30th 2012, 11:45 pm
  #55  
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Default Re: Canada recession looming?

Originally Posted by SambaDeAmigo
The day RIM closes down, and it could happen very soon, we'll see some negative effects for sure
Kitchener is a dump anyway, never understand why people are so proud to tell me they got a job with RIM and get to live there.
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Old Jun 30th 2012, 11:53 pm
  #56  
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Default Re: Canada recession looming?

Originally Posted by Alan2005
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.
More of a regional phenoma I think, personally I think there will be some sort of bubble bursting, because (a) tougher immigration rules and (b) the Chinese economy is in trouble now and that will slow down investment in property in Vancouver and Toronto. I don't think that will happen in Alberta though. Too much demand, plus property here isn't really 'investable' in, the condo market is really small.
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Old Jul 1st 2012, 1:37 am
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Default Re: Canada recession looming?

Originally Posted by YoshiPal2010
So you think that people who do jobs that you, perhaps, feel are beneath you, should not get a remuneration that reflects the unattractiveness of the job. I hope you are comfortable, sitting on your arse in your cubicle, when other people are removing your trash, fighting fires, taking care of the sick, cleaning-up after your, no doubt perfect, children in their school. What an obnoxious twit!
Like everyone else they should get a remuneration based on the scarcity of the skills required. There are loads of qualified people who want to be teachers who cannot because there are not enough jobs - ergo they are paid too much. Ditto policing, ditto fire-fighters, ditto pretty much all public sector jobs.
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Old Jul 1st 2012, 1:37 am
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Default Re: Canada recession looming?

Originally Posted by Steve_
More of a regional phenoma I think, personally I think there will be some sort of bubble bursting, because (a) tougher immigration rules and (b) the Chinese economy is in trouble now and that will slow down investment in property in Vancouver and Toronto. I don't think that will happen in Alberta though. Too much demand, plus property here isn't really 'investable' in, the condo market is really small.
People always say there will be drops, but not where they live

But you have a point about chinese people - but even in Vancouver that's localized to a few specific areas.
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Old Jul 1st 2012, 2:58 am
  #59  
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Default Re: Canada recession looming?

Originally Posted by FlyingDutchman6666
Interesting thoughts, Alan.

According to The Economist, Canadian house prices are 75% overvalued against rents, which is the highest in the OECD. That figure is for the whole of Canada, it's likely to be worse for places like Toronto and Vancouver.

My own personal experience backs this up. In my neck of the woods (outer Toronto suburbs) a family home can be rented for 50% of the mortgage payments on an equivalent home in the same area. This is at current low interest rates - imagine how much out of whack it would be if interest rates went up...

The price/rent ratio is usually seen as an excellent indicator of property 'fair value'. It will have to come down from its amazing 75% overvaluation at some point. So basically you're saying that the government will print money to stoke inflation on purpose, therefore pushing up the cost of living tremendously? That could work, as rents would be pushed up as well, which would bring the price/rent ratio back to normal.
This makes sense...but I'm really curious as to how they track rents in a city like Burnaby or Vancouver.

Rents are all over the place in my area - some low, some high, etc. for the same product.

We recently rented a basement suite and had far more interest than we were expecting, considering the price. Am now thinking we should have put the price up.

It seems like there is a lot of demand for decent rentals in my area of Burnaby but not a lot of choice...there's a 2 bed basement suite renting for $2K a month not far from us. THat's a pretty decent whack off a mortgage.
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Old Jul 1st 2012, 6:59 am
  #60  
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Default Re: Canada recession looming?

It has to be said with recessions and also movements in property prices a lot of it is more about perception than reality. If people are worried, they're less likely to buy, which I think is another reason there are going to be problems in Vancouver and Toronto. Certainly is a major issue in the US and Europe.

"Consumer confidence" is the fluffy metric used.
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