Canada's problems are about to begin

[robert l. bentham]

Canada's problems, by contrast, are about to begin. True, growth has been plumped up by high commodity prices and prospects of slightly faster growth in the global economy during 2013 will help the extractive sector. Canada's banks were better able to cope with the global financial storm. But the real reason growth has been strong is booming property prices. That is about to end. In the US, trends in building permits and housing starts were an early indicator that the party was over: they are now falling fast in Canada.

http://www.guardian.co.uk/business/2013/feb/14/canada-growth-property-prices

 

[Glaucus]

I sure hope so. Housing here has gotten pretty stupid.

 

[robert l. bentham]

i just found a 3 bdrm 2 bth 2 cr garage on four lots for 15 000 dollars 60's era ranch house.... only 2300 sq ft tho... not counting unfinished basement... be a great home for someone who worked from home... needs new siding...

 

[robert l. bentham]

dont hate me... i have a charmed life... here it is... kinda cool actually

i like the bay window bank in the front... itd be cooler if it was pushed out tho... cell phone photos suck... feller could pay that place off in rent alone in a year...

 

[FluffyMcDeath]

I've been seeing a lot more "For Lease" signs lately. Current commercial lease rates in Vancouver are at least as stupid as the house prices. I'm not sure the property owners have a lot of room to move on that because most of them are in hock to the banks.

 

[faethor]

Found a funny pic but forgot to save it for our Canadian friends. It was a snow covered parking lot with about 2 meters (6 feet) of snow with people digging out the tops of their cars. It said 'Canadian Archaeology'...

 

[FluffyMcDeath]

Canadians stop shopping.