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Post by Deleted on Jul 22, 2015 18:33:54 GMT -5
linkEurope is maybe headed for problems with Greece and all. China's stock market is a mess, with the no sell thing. If the world is so connected do you think that means we (America) is headed for a recession. They are said to come every 10? years. Canada's recession is from cheap oil prices. Does that affect us much?
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mroped
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Post by mroped on Jul 22, 2015 19:20:49 GMT -5
Canada always seems to be in a recession. But that is just deceiving. Unlike US people, Canadians are happy with less, they are content with what they have. Sure, there are plenty that want to get rich overnite and so on but the vast majority are calm, polite, laid back people. These are a few of the things that I liked about living in Canada. Stretching over vast territories with a comparatively low population and having plenty of resources is helpful, gives those in charge peace of mind and they are more than happy to convey that to the populace. But then again, this was/is just my impression. Would be nice if we could have the opinion of bona fide Canadian !
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Post by Deleted on Jul 23, 2015 15:32:44 GMT -5
Canada is in recession because of oil prices and Russia is in a mess because of oil prices. Gas is not that cheap in spite of cheap oil. I heard Australia will go into recession because of China and Europe because of Greece. We always get a recession before 10 years and it has been 6 years since the last one ended.
I do not understand how all the debt interacted with the recession last time. We still have all the debt though. I am in a bit better spot, though not great.
Anyone have thoughts on the subject?
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Post by Deleted on Jul 23, 2015 16:16:50 GMT -5
What recession?
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Post by Deleted on Jul 23, 2015 16:18:14 GMT -5
I linked to an article in OP.
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Post by Deleted on Jul 23, 2015 16:22:38 GMT -5
I linked to an article in OP. When you see an article that says "Canada this or Canada that", they don't mean this part of Canada where I live. Its a virtual bubble and has been for decades now. Housing prices have continued to rise steadily. A family home in this city is upwards of a million dollars. Not that it matters but that is how it is.
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Deleted
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Post by Deleted on Jul 23, 2015 16:35:32 GMT -5
We have a stronger social safety net than the U.S. so a recession doesn't have the exact same impact on individuals as it does in the States. Universal health care also helps soften the blow.
Our dollar is back down compared to the USD but that is almost on purpose so we have an advantage exporting to you.
ETA - There have been a lot of layoffs in the oil fields and that is affecting most province's since a lot of the guys working there actually lived elsewhere. We aren't feeling the full brunt of that yet.
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Robert not Bobby
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Post by Robert not Bobby on Jul 23, 2015 16:35:48 GMT -5
A home in Vancouver that is worth a million dollars, realistically is worth $150,000 anywhere else...you are in a bubble and it will burst.
There are only so many Chinese willing to spend crazy money.
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Post by Deleted on Jul 23, 2015 16:36:37 GMT -5
I linked to an article in OP. When you see an article that says "Canada this or Canada that", they don't mean this part of Canada where I live. Its a virtual bubble and has been for decades now. Housing prices have continued to rise steadily. A family home in this city is upwards of a million dollars. Not that it matters but that is how it is. How are the income levels compared to the housing costs.
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Post by Deleted on Jul 23, 2015 16:44:14 GMT -5
A home in Vancouver that is worth a million dollars, realistically is worth $150,000 anywhere else...you are in a bubble and it will burst. There are only so many Chinese willing to spend crazy money.China's population is over 1.355 billion, Canada's population is 33 million, Greater Vancouver area is 2.4 million. Chinese people spending crazy money can sustain us for quite a while.
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djAdvocate
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Post by djAdvocate on Jul 23, 2015 16:50:03 GMT -5
linkEurope is maybe headed for problems with Greece and all. China's stock market is a mess, with the no sell thing. If the world is so connected do you think that means we (America) is headed for a recession. They are said to come every 10? years. Canada's recession is from cheap oil prices. Does that affect us much? stock market cycles are 14-18 years, so we are 0-3 years away from the next major bull market. i agree that there is probably a cooldown coming, but if it is going to happen, it will have to happen in the next 12-18 months. or, right around election time.
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djAdvocate
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Post by djAdvocate on Jul 23, 2015 16:51:09 GMT -5
A home in Vancouver that is worth a million dollars, realistically is worth $150,000 anywhere else...you are in a bubble and it will burst. There are only so many Chinese willing to spend crazy money.China's population is over 1.355 billion, Canada's population is 33 million, Greater Vancouver area is 2.4 million. Chinese people spending crazy money can sustain us for quite a while. i agree. the chinese love Canada, and their latest DOWNTURN has given them a 5-7% GDP growth rate, which we would kill for (ours is about half that).
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Post by Deleted on Jul 23, 2015 16:51:22 GMT -5
I was more interested in the economic aspects of a recession then the political aspects. Could a moderator please close this thread?
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djAdvocate
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Post by djAdvocate on Jul 23, 2015 17:00:34 GMT -5
I was more interested in the economic aspects of a recession then the political aspects. Could a moderator please close this thread? my response was 100% economic. but it is your thread. close away.
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Robert not Bobby
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Post by Robert not Bobby on Jul 23, 2015 17:02:29 GMT -5
I was more interested in the economic aspects of a recession then the political aspects. Could a moderator please close this thread? I believe, technically, a recession happens when there are three quarters of no growth, or a steady downturn.
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Post by Deleted on Jul 23, 2015 17:05:28 GMT -5
I was more interested in the economic aspects of a recession then the political aspects. Could a moderator please close this thread? No you cannot do that. Go with it and try to turn it around if you wish but once it is started it is no longer "Your" thread.
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Deleted
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Post by Deleted on Jul 23, 2015 17:07:01 GMT -5
A home in Vancouver that is worth a million dollars, realistically is worth $150,000 anywhere else...you are in a bubble and it will burst. There are only so many Chinese willing to spend crazy money. Every year the so called experts say that the bubble will burst. Every year they are wrong. Now they say that cash buyers that are buying will cause a crash. Please note that the people they say are causing the prices to rise are cash buyers.
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Post by Deleted on Jul 23, 2015 17:10:05 GMT -5
I was more interested in the economic aspects of a recession then the political aspects. Could a moderator please close this thread? my response was 100% economic. but it is your thread. close away. We all are, but Blonde Granny moved the thread.
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Post by Deleted on Jul 23, 2015 17:11:11 GMT -5
I was more interested in the economic aspects of a recession then the political aspects. Could a moderator please close this thread? No you cannot do that. Go with it and try to turn it around if you wish but once it is started it is no longer "Your" thread. It's not about our answers, the thread has been moved.
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Deleted
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Post by Deleted on Jul 23, 2015 17:12:20 GMT -5
No you cannot do that. Go with it and try to turn it around if you wish but once it is started it is no longer "Your" thread. It's not about our answers, the thread has been moved. Oh brother.
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Value Buy
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Post by Value Buy on Jul 23, 2015 17:12:45 GMT -5
Is Hickle upset it was moved, or with the discussion he is getting?
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Robert not Bobby
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Post by Robert not Bobby on Jul 23, 2015 17:13:14 GMT -5
Apple, once the interest rates go back up to historic norms and people have to renew...there will be crying in the streets.
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Post by Deleted on Jul 23, 2015 17:19:36 GMT -5
Apple, once the interest rates go back up to historic norms and people have to renew...there will be crying in the streets. You don't get it, the people that manage to buy aren't using credit. The biggest problem in Vancouver is that young people have been priced out of the market. People that already owned homes have seen them appreciate and a lot of them aren't selling until they downsize so they are doing okay. Their condo market is growing rapidly.
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Post by Value Buy on Jul 23, 2015 17:22:03 GMT -5
Apple, once the interest rates go back up to historic norms and people have to renew...there will be crying in the streets. It is my understanding Canadians pay either cash or over 50% of the purchase price.
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djAdvocate
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Post by djAdvocate on Jul 23, 2015 17:22:50 GMT -5
I was more interested in the economic aspects of a recession then the political aspects. Could a moderator please close this thread? I believe, technically, a recession happens when there are three quarters of no growth, or a steady downturn. the OP claims two, but that is what i have always thought as well (3).
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Robert not Bobby
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Post by Robert not Bobby on Jul 23, 2015 17:28:28 GMT -5
So who is buying these one million dollar, two bedroom, one bath, bungalows?
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Post by Deleted on Jul 23, 2015 17:29:00 GMT -5
Apple, once the interest rates go back up to historic norms and people have to renew...there will be crying in the streets. It is my understanding Canadians pay either cash or over 50% of the purchase price. No, that isn't the norm. You can buy with as little as 5% down, but then you pay CMHA fees (Canadian Mortgage and Housing Association).
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Post by Deleted on Jul 23, 2015 17:33:09 GMT -5
So who is buying these one million dollar, two bedroom, one bath, bungalows? The Chinese, then they tear them down and rebuild. There is some requirement that when they invest in the real estate they also have to invest in the community so most of them do it with construction jobs. Well some of them are those people I talked about that are downsizing.
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Post by Deleted on Jul 23, 2015 17:35:06 GMT -5
So who is buying these one million dollar, two bedroom, one bath, bungalows? Chinese buy them and tear them down or let them rot. We have dark streets, a new term for entire unoccupied streets owned by "out of country" investors who see this as a safe haven for their money. Its not about the house per say. They swoop in, pay over list and no subjects. Done deal.
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mmhmm
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Post by mmhmm on Jul 23, 2015 17:36:37 GMT -5
Is Hickle upset it was moved, or with the discussion he is getting? That's a question you'd have to ask hickle, I'm afraid.
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