Comments on: Bubble talk

By: TJ

TJ — Fri, 27 Nov 2009 06:38:48 +0000

This ‘Turkey’ from America and an astute analyst;

Today I wonder if a half trillion dollars will be enough to get the country through the waves of bank failures coming from the residential and commercial real estate meltdown. Make no mistake, we are nowhere near a bottom. In my August post called “Real Estate at A Bottom…NOT!” I said this,“A Deutsche Bank report claims that 25 million homeowners will probably owe more than their mortgage is worth by 2011. That will be nearly half of all homeowners in the U.S. The bank estimates 26 percent of homes are currently underwater.”

http://usawatchdog.com/the-fdic-is-way-beyond-broke/

By: Tony

Tony — Fri, 27 Nov 2009 00:00:08 +0000

Re: I have modified it to include the bubble real estate market of 1989 Duh!!?? I’ve been hearing and reading the same thing for a decade why?? The last crash in real estate in southern Ontario was in the 3rd week of September of the year 1987. I’ll say or state this again for Garth and all the other people who have had everything wrong for over a decade. The last crash in Ontario real estate was the third week of September of the year nineteen eighty-seven.

Actually it was 1989. — Garth

By: TheComingDepression

TheComingDepression — Thu, 26 Nov 2009 21:04:26 +0000

Case Schiller report states REAL ESTATE will go down another 45%!!!!!!!!!!!! You will buy 5 houses in the US to CANADA’s 1 soon! LOL
http://thecomingdepression.blogspot.com/2009/11/case-shiller-still-predicts-massive-45.html

By: Q

Thu, 26 Nov 2009 14:50:49 +0000

‘Great fool’ is becoming an understatement to what’s been going on. Mass stupidity is a better description.

By: Kent

Kent — Thu, 26 Nov 2009 13:33:43 +0000

Hey, jmcanuck, I have the same luck. Tell you what, you let me know when you buy and I’ll buy after that. That way, at least one of us will “win”.

By: jmcanuck

jmcanuck — Thu, 26 Nov 2009 05:40:10 +0000

The day after I buy a house the housing market will collapse. I seem to have that effect on markets. It’s my gift. It’s my curse.

By: Taxpayer like you

Taxpayer like you — Thu, 26 Nov 2009 02:13:04 +0000

Big Al@79

Cute story, but not an accurate description of the system.
Firstly, the “banker” is not a banker. He is a loan shark. He does not take deposits. Secondly, the inhabitants do not need a “loan” or “money”, they need currency – a medium of exchange. Thirdly, nobody seems to charge the “banker” for anything. They should have sold their
goods and services to him in exchange for the currency.

The social credit systen explained at the end is more in line with todays banking system. Just ask yourself if the inhabitant who devised and ran the system would do it for free. Of course he would want to be paid for his/her
services. Presto – a banker! Pretty soon he/she starts
charging lots for services and increases the interest rate
spread. Voila – RBC! All without the original deposit ever
belonging to the bank.

So the other inhabitants lynch the banker and claim all the deposits etc for themselves. Now its a credit union!

By: $fromA$ia ()

$fromA$ia () — Thu, 26 Nov 2009 01:55:40 +0000

So the Russians want to promote and buy up Canadian Dollars. Do they realise our housing market is about to tank just like the U.S.?

Fiat money and stimulous. What next, verbal IOU backed currencies?

I bet Austrailian and Newzealand currencies are a better bet.

By: grumpy

grumpy — Thu, 26 Nov 2009 00:38:16 +0000

Master bubble maker Alan Greenspan said

“You can’t see a bubble when you’re in one”

OMG. I’m blind…..I’mmmmm blind.

By: Emma

Emma — Thu, 26 Nov 2009 00:06:02 +0000

#62 nota bene

Here’s the full scotiabank report

http://tinyurl.com/yfag7ay

Also of interest, the report states that, “18% of Canadians withdrew equity from their homes over the past year. The average amount was $41k and the total was $46 billion.” And most importantly to me, 52% of borrowers used at least a portion to consolidate debt.

I must add that I take some issue with these numbers:
18% of Canadians would equate to 6 million people
46B/41k equates to 1.12 million withdrawals

Should it have stated ‘families’ or ‘homeowners’ rather than Canadians?