There is no Canadian Housing Bubble!

[maui1]

aham- i would spend the time, but you have proven, you are not worth that time.

[decoy409]

#231 & #234, this is a follow up as to the the MISINFORMATION being broadcasted by #231. #234 has plenty of fire power to do that ,however #231 rubbed it off as they were speaking of the Canadian housing market which would make '0' sense as the thread here is about the US housing market.

So for identification purpose of the overall situation in hand I relieve with the following,

Housing

May 10,2011 U.S. Housing Market and GDP Economic Growth

(excerpt) - Today Zillow.com reported that home price depreciation accelerated in Q1 2011 at a rate last seen in 2008. In other words 15% of the economy has accelerated its contraction. Additionally they reported that a record 28.4% of single family homes (with mortgages) now have negative equity where the amount owed on their mortgage exceeds the value of their home. So the portion of the economy that cannot be measured (wealth affect on consumer demand) is also deteriorating.

That's why comments like the following are not only ignorant but just plain dangerous.

“it doesn’t seem likely that we’ll have a double dip recession. And that’s because, among other things, some of the most cyclical parts of the economy, like housing, for example, are already very weak. And they can’t get much weaker. And so another decline is relatively unlikely.”

Fed Chairman Bernanke

"We haven't needed (housing) for two years." Jim Paulsen, Wells Capital Management


"I really don't think the housing market per see affects anyone but those in the worst areas and the banks." Michael Cohn Global Arena Investment Management

Here's a scary reality for those 1 in 4 home owners who have negative equity. What if they lose their job, have a financial emergency, etc? If they can no longer afford their mortgage they also cannot afford to sell without bringing money to closing resulting in higher foreclosures and thus greater pressure on housing prices.

This begins to explain how important job growth is to this economy. Combine record job loss with a deteriorating housing market and you have one serious economic headwind.

Most important to any economy though is confidence. If people are confident they spend, they invest, they grow the economy. If they are not, they contract. Thus another unmeasurable impact on housing is its impact on overall consumer confidence.
(end of excerpt)

www.marketoracle.co.uk/Article28044.html

We are the Worlds balance beam,not Canada. So when we are discussing housing,we are discussing the US housing as this thread implies.

And as for the Canada housing market,

May 10,2011 US and Canada: Residential Investment as % of GDP

(excerpt) - As I have compared the US and Canadian housing markets before, these two charts just add to my reasoning that Canada is not different from the US.

saskatoonhousingbubble.blogspot.com/2011/05/us-and-canada-residential-investment-as.html

[decoy409]

#239 today's entry. This is how turning the cheek works. When the fire power is brought in,silence is known as the 'scurry' has taken place.

[decoy409]

We will keep this up top until we see replies by those that are spewing anything but TRUTH as to this market.
The cards have been laid out on the table and I am calling the bluff.

[decoy409]

What happened to the know it all in this thread? Must be out having a few!

Here's to ya!

[decoy409]

And we seem to have fried the burger. But it might come back to be fried some more!

[decoy409]

One big rat trap is what this post now consists of.

Smart little rats they thought they were,but they scurry when it's time to defend their nest they made.

[Aman A.K.A. Ahamburger]

LOL ahh, I knew that the CDN, US market comparison would blow right through your hollow head scarecrow. None of your brains have covered this topic. Its called Vancouver's median home price is a million+, which is 22.5% of all home sales in Canada they are driving our home prices up.. The top ten most affordable places in Canada have median home prices around 150k. You guys are experiencing the OPPOSITE effect on prices. Over 30% of homes sales for the first 5 months of this year have been FORECLOSURE sales... LOW LOW prices, which drags the numbers DOWN... I know it's complicated..

I like how we have 8 pages of good DISCUSSION. No real fights and arguing, yet you post on here for one day and turn into a troll's bathroom. That's what I call, a classic decoy!

[decoy409]

burger boy switches from US housing to carry over and change of topic at his burger stand.

This is great! Why you and virgin are like a great old team up of Abbott and Costello or Laurel and Hardy!

I think you guys are great! Why with out your entertainment,this board would not be so funny! Thanks for the comedy act!

Now as far as US housing in which this thread is based on,

Real Estate - Shadow Inventory And The Elusive Recovery
Posted on May 23, 2011
The housing (and economic) recovery have become as elusive as the mythical and highly sought after unicorn. Unfortunately, unicorns, much like this recovery, do not exist. In the latest from the world of the surreal, the New York Times is reporting, gAs Lenders Hold Homes / Continue reading ¨

April Existing Home Sales Weaker Than Expected
Posted on May 20, 2011
About two months ago I wrote a post that the Spring/peak housing season was about to go out with a whimper. Well, here we are, in the thick of the peak housing season and the existing home sales market is on / Continue reading ¨

New Home Market Has Hit The Mat, And Itfs Not Getting Back Up
Posted on May 18, 2011
The new home market appears that it may be down for the count. The Census Bureau announced yesterday that seasonally adjusted building permits came in at 551,000, this is down 4% from the previous month and 12.8% from last year. / Continue reading ¨

The Unintended Consequences Of Government Intervention
Posted on May 14, 2011
This is one of the better videos that I have seen detailing the demise of the American standard of living over the past several decades. From housing, to healthcare, to education, and now ultimately to food and fuel, the private federal / Continue reading ¨

Mortgage Rates Hit 2011 Low As Home Values Rot
Posted on May 12, 2011
The mortgage bankers association announced yesterday that mortgage rates fell for the fourth consecutive week and are now at their lowest point since December of 2010 with the 30-year fixed rate mortgage sitting at 4.67%. Not surprisingly, as mortgage rates / Continue reading ¨

Pending Home Sales And The State Of The Housing Market
Posted on April 29, 2011
The NAR announced that their pending home sales index in March fell 11.4% year over year despite a 5.1% month over month increase to 94.1. For those that are keeping score, here is the scorecard for the housing market: According / Continue reading ¨

Case-Shiller: 8th Straight Month Of Home Price Declines
Posted on April 26, 2011
The S&P Case-Shiller home price index was released today and revealed that for the 8th straight month home prices have deteriorated. This supports the NARfs existing home sales report which shows four straight months of declines with each month posting / Continue reading ¨

March New Home Sales Off Of All-Time Low
Posted on April 25, 2011
The census bureau announced today that the March new home sales which represents contracts signed, not closed, rose 11.1% month over month to a seasonally adjusted annual rate of 300,000. However, the data represents a 21.9% decline year over year / Continue reading ¨

The Tide Has Vanished
Posted on April 23, 2011
With gold eclipsing $1,500 an ounce, silver going full steam ahead towards $50, and oil at over $112 a barrel, something doesnft quite feel right. Itfs tough for a lot of people to put a finger on it, in fact / Continue reading ¨

The Truth Behind The March Existing Homes Sales Report
Posted on April 20, 2011
While Wall St. may be patting themselves on the back as NARfs existing home sales report beat expectations by 2% or 100K home sales, assuring everybody that a housing recovery is now imminent, the truth is, the data points to / Continue reading ¨

goldsilverrealestate.com/?cat=7

[Aman A.K.A. Ahamburger]

You are sooo behind it's just unreal now.. Why don't you go ask your buddy, who is so obviously protecting you now, what WCC stands for.

[decoy409]

So behind? Sorry that there has to be those that refuse to look a the BIG Picture,but there will always be a few.

[maui1]

Housing bottomed in FEB. That is good news.

just like you were sure that gold topped at 1420 on dec 21st?
usa- you really are the 'certain one', that is never proven right.

this from today...........MAY/JUNE

Home prices in major areas have reached their lowest level since the U.S. housing bubble burst in 2006, driven down by foreclosures, a glut of unsold homes and the reluctance or inability of many to buy.

[Aman A.K.A. Ahamburger]

This is a discussion after all.

Woodside to open Villa Palermo today
www.lvrj.com/real_estate/woodside-to-open-villa-palermo-today-124124919.html

[Aman A.K.A. Ahamburger]

Very interesting..

The-housing-bottom-is-here-economist-russell-price-explains:
www.dailyfinance.com/2011/06/21/the-housing-bottom-is-here-economist-russell-price-explains/

[smackdown]

Hehehehehehe... hoho... a HOUSING BOTTOM? Absolutely-- not.

First, almost 100% of repossessed homes are STILL being bought by rehab companies, repainted and carpeted and sold to baby-mammas with nothing down on variable rate and term programs! The SAME houses are recycling through the system. I wrote about this THREE YEARS AGO. Every recycling will extend the crisis another 14-18 months. Given the multi-million ADDITIONAL homes taken so far in 2011, combined with the recycling stock... we will absolutely see more decline.
Second... no jobs means no income, declining credit ratings and no desire to invest in recovery. The end of oligarchies like Wal-Mart and Exxon are absolutely essential to spur buying anything other than basic living needs and cheap stuff.
Third... Get out of your office more. The average community has lost 50% or more of business variety and small businesses. Most malls are filled with marquis names owned by the same big businesses and filled with foreign-made garbage goods. With commercial vacancies exceeding 35% on Main Streets and nearly every Light Industrial corridor empty... housing has no anchors and is adrift. The schools built new gymnasiums but forgot that sports aren't on the ACT exam.

Housing won't bottom until the cultural society does. The Social Network was really a terrorist plot that allowed the weak-minded to leverage en masse (communication) to pull down those who were repairing and maintaining their home as to make them more appealing. You can tell a commercially maintained lawn from a self-cut one. If you can't cut your own grass, you likely aren't keeping up the inside either. If repossessions are telling us anything, there should be a responsible-buyer test and a premium for squatting for a time then defaulting on the shoddy credit.

These truths are self-evident and NO report will convince otherwise. Housing won't recover until the most IRRESPONSIBLE Generation is shut down.

[usaone]

Housing has already bottomed in 30% of the country and that number will continue to climb through next year.

[Aman A.K.A. Ahamburger]

There have been signs that there is a pulse in the housing market that is for sure.. K4usawon


Interesting points VL... I guess we will see.

[decoy409]

A pulse???

Oh that 'Foreign' pulse.

June 15,2011 Foreigners Make Run on US Housing Market

www.cnbc.com/id/43410052/Foreigners_Make_Run_on_US_Housing_Market

July 7,2011 The Ripple Effect Of Declining Real Estate

www.businessinsider.com/the-ripple-effect-of-declining-real-estate-2011-7?source=patrick.net#yui-main

[usaone]

Housing is approaching its historical price point and will continue to improve. Foreign investment will only help.

[decoy409]

Get a grip. The BIG Picture is what you fail to discuss simply becouse you see it,or you don't. Clearly this is the United States of America,is it not? Clearly our Gdp has a very BIG role in what transpires here in this structured society built by the American way,does it not?
But what has evolved is a 'reliable' NEED for foreign investment into the US which once upon a time was done so by the people of the United States of America.

But as money is spent and gone,the NEED for out of town investors is HIGH. When you take apart something,you have to put it back together. And the taking apart and putting it back together in this case,is not in the better interests of the common folks of the United States of America,period.

[maui1]

housing will not fix itself until the gov't stops trying to fix it!

[usaone]

Jul 8, 2011 10:26:01 GMT -5 decoy409 said:

Get a grip. The BIG Picture is what you fail to discuss simply becouse you see it,or you don't. Clearly this is the United States of America,is it not? Clearly our Gdp has a very BIG role in what transpires here in this structured society built by the American way,does it not?
But what has evolved is a 'reliable' NEED for foreign investment into the US which once upon a time was done so by the people of the United States of America.

But as money is spent and gone,the NEED for out of town investors is HIGH. When you take apart something,you have to put it back together. And the taking apart and putting it back together in this case,is not in the better interests of the common folks of the United States of America,period.

There is nothing wrong with foreign investment in the United States.

[decoy409]

Get a grip.

[decoy409]

MBS,Gdp,and only a few million now on the market.

[decoy409]

And as far as up with this and up with that,INCLUDING Gold & Silver,BIG DEAL!

Better figure out MBS and millions of homes around town on chopping blocks.

[usaone]

Most of the foreclosures are concentrated in 4 states.

[frankq]

Jul 8, 2011 10:26:56 GMT -5 @maui1 said:

housing will not fix itself until the gov't stops trying to fix it!

On this we can agree.

[maui1]

i am very agreeable......when people take the time to look past their preconceived, implanted, ideas.

[decoy409]

maui1, 'pre-conceived- ideas?

[maui1]

frank's................ the other one