tag:blogger.com,1999:blog-4251672323919283767.post6869170580787370326..comments2024-03-27T23:03:29.351-07:00Comments on Vancouver RE and then some: The Perfect StormFish10http://www.blogger.com/profile/09770438465068216630noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-4251672323919283767.post-75871871650276221362009-10-23T23:20:19.457-07:002009-10-23T23:20:19.457-07:00When you consider that Americans can deduct mortga...When you consider that Americans can deduct mortgage interest and they have lower taxes, that comparison becomes even more amazing.<br /><br />The funny thing is that maybe this is all rational: someone in Vancouver Condos explained you might as well bet with someone else's money on prices going up. If prices go up for a while, you are a millionaire. If you are wrong, you go bankrupt. Not bad, if starting from (next to) nothing.<br /><br />CMHC has got to undergo some major policy changes to deflate this bubble. Even if they act now, the money tied up in mortgages is going to give society one wicked hangover.Pandahttps://www.blogger.com/profile/07255920606087666835noreply@blogger.comtag:blogger.com,1999:blog-4251672323919283767.post-83564303021135150682009-10-23T22:29:05.325-07:002009-10-23T22:29:05.325-07:00BNN just reported Canadians are buying homes on av...BNN just reported Canadians are buying homes on average 7 X their income, where Americans are at at 3.5X.<br /><br />3.5 X is the rational amount.<br /><br />7 seems unsustainable.fish10noreply@blogger.comtag:blogger.com,1999:blog-4251672323919283767.post-73597920569880966332009-10-22T23:04:03.412-07:002009-10-22T23:04:03.412-07:00If you had told me last year that Canada's res...If you had told me last year that Canada's response to the financial debacle precipitated by bad mortgage lending in the U.S. would be to encourage more bad lending here...I wouldn't have believed it. It's complete madness.wizardofozziejurocknoreply@blogger.com