Gord

Excellent detective work on finding the Maclean’s article on “Awash in A Sea of Debt”! I found the article thought provoking and a harbinger of frightening economic events awaiting Canada.

Garth

It is interesting that Maclean’s did not even bother to talk to you about key points in the article that has been discussed in detail since the publication of Greater Fool and After the Crash.

This definitely proves that the MSM (after doing their research) can’t call you chicken little anymore. There is solid and concrete economic data that backs up your thesis of a housing bubble and the growth of personal& mortgage debt in Canada.

When this housing bubble and debt bomb explodes some time in 2011-12 you will as popular as Peter Schiff when he published “Crash Proof” in 2002. So get ready for the media spotlight soon!

This would be an excellent blog topic for you to throw at the blog dogs.

That’s what I’m counting on! Mid 2010 to Q3 USD index around 0.85, GOLD down to 900! Repeat of Nov 08!

I may grab some gold but it’s SILVER I like during the upcoming currency crisis!

Toronto is going to host the summer Olympics…

My sidelines position ensures my children dont feel the burden of taking care of parents who caused the whole problem we are facing today.

I believe your so-called friends will at the end of this reset fall below the line and their kids not so forgiving once the blame game begins!

This range is from $50K – $75K CAD only!

Also check out the following link to the THE EXPAT KL

http://www.expatkl.com which has an online guide and forum to discuss everything.

Some cities seem to jive well with the demographia data. London does not.

Tokyo still over 11. Have read that prices have dropped by two-thirds since their bubble popped. Gives us a factor of over 30 at the peak. Many cities in developing world, as well as second world (East europe) are well into double digits. Also some in West Europe (Paris,
Athens) and South America (Bogota). Perhaps comparing apples and oranges in many cases due to larger percentage of poor people in many of these places – they dont own RE and skews the average income down.

But it is a good reminder to all how much of the world lives and how lucky we are to live in a “property
owning democracy”

56 Vancouver renter – good to hear from you. As I recall you cashed out completely from RE a few years back. You had two places I believe. Hindsight now, but did you ever consider keeping one or getting another one at that time to reduce the exposure but keep a foot in the door. Mom once told me “Don’t speculate with the
family home – up or down”

I have also ready “The Creature From Jeckyll Island”. A great book.

One correction though…The Bank of Canada, unlike the US FED, is a crown corporation. But even though our central bank is owned by the “people” we still comply with regulations from the Bank of International Settlements.

http://www.bankofcanada.ca/en/faq/faq_bank_roles.html

people have asked \’who do these guys work for\’?
answer- the Illuminati, the same folks who sent your jobs to Mechindia, the same folks, via their department of Mayhem aka Mossad, who did a controlled demolition of the twin towers

That’s what I once thought but when you look at the last time we had 20 percent inflation, real estate prices rose too, even with 15 percent mortgage rates. Secondly, why did Warren Buffett dump all of his cash recently ($20 billion all in real assets) if he thought cash was king. Thirdly, interest rates will only rise to fight inflation if democratic governments have the political will to do so. If unemployment stays high, they will likely not raise rates quite as high as they need to be in order to get re-elected. This is not as straightforward as you might believe.

“Of course I paid attention to the real estate. Things are certainly nothing like they are here! Imagine a half a million dollars for a small apartment in the city or a townhouse for $800,000. In some of the really sought after neighbourhoods, a small home is easily over a million dollars. Phew! The upside of that is that Australia seemed to have escaped the recession that has gripped North America. Things appeared to be booming.”