Canadian housing slump deepens with first drop in values in decades? – Don’t believe the hype everything is fine

The real estate lobby is pushing the government to change stress test rules and change amortizations and other things in hopes they can get some real estate inflation. So my assumption is that we’re going to see a lot of these doom and gloom real estate articles coming out of Left-leaning news outlets. Below is an article on Bloomberg, the sky is falling, the sky is falling blah, blah, blah, you can read the article below for yourself.

Canadian Housing Slump Deepens With First Drop in Values in Decades – bloomberg.com

Now, even if you look at the chart on the Bloomberg article you can clearly see that real estate prices have lower in the past than they are right now. Now, if you want to make the argument that Canada’s real estate market is market-based (Which it’s clearly not) well that’s what happens in the free market, prices go up and prices go down, the truth is people don’t like to move in the winter time, I sure as hell don’t, so why all the fuss? Why all the fuss you ask because speculators or flippers don’t buy stocks or real estate to hold onto them, flippers buy in hopes to make a profit and basically the BoC, CMHC and the Federal Government since Stephen Harper was Prime Minister of Canada have been very receptive to the Real EstatLobbyby.

I voted for Stephen Harper when he lost to Justin Trudeau and I said in this blog, that it was a huge mistake for Stephen Harper to pander to the Real Estate lobby, I still say Stephen Harpers Conservatives created Justin Trudeau, they created the demand for a Justin Trudeau because, let’s be honest most Canadians are economic morons, Justin Trudeau promised Canadian voters all kinds of free stuff and they took the bait, well unfortunately for the Real estate lobby Justin didnt only make promises to them, he also made promises to everybody else and well I think the Federal deficit instead of ballooning to $20 billon as Justin promised his voters is now a $78 Billion deficit and well, sure he might cave under pressure and create another housing boom, but umm yeah a lot of manufacturing jobs are leaving Canada.

This whole SNC-Lavalin only has value because, well a lot of Canadian manufacturing jobs that existed 20 years ago, don’t exist in Canada anymore, when a country stops manufacturing things it’s very susceptible to a currency crisis so a lot of the people who otherwise would have contributed to this housing disaster, in actuality can’t, it’s common knowledge that it’s the foreign and domestic speculators fueling Canada’s housing boom.

I personally don’t know anyone in Ontario that wants to live in a Condo, maybe a few stupid people in their 20’s maybe some old people and maybe some young successful people, but generally all the people I meet want a detatched house and they don’t want to pay an inflated price for it. Making matters worse is that less people are getting married, unmarried people who don’t want to buy condos, because I’m living through it I can see the writing on the wall but if you’re a person who simply looks at the numbers on the charts or you’re a person whose in debt and nervous that they’ll be no suckers to service your mortgage loan debt I get it, we’ll just have to wait and see how this turns out.

Personally, I love fire sales, I’d love for these scams to get exposed, the school of hard knox is the best teacher and I can’t wait for the crash to happen, so much so that I don’t mind waiting patiently for it!

Interesting times ahead.