Now that you've long since been priced out of buying a home, and will soon be priced out of renting one (I predict rents go up another 30 percent by 2026), what's your plan to keep a roof over your head in the upcoming years?
Canadian Rentoids
Now that you've long since been priced out of buying a home, and will soon be priced out of renting one (I predict rents go up another 30 percent by 2026), what's your plan to keep a roof over your head in the upcoming years?
leaving this shithole
Where to, blessed leaf?
Unironically Mexico has a higher standard of living than many 1st world countries these days.
They are just catching up to their destiny as a full fledged wealth-club NAFTA partner.
They are really an NA culture like us. Besides, like 1//3 + of the american economy was originally a part of mexico. It's a shared culture.
where do you get guarantors and references for the passport if you're a schizoid that never goes outside
You'll have plenty of time outside after your eviction hearing. What country did you have in mind?
lol i don't have that problem
where do you get guarantors and references for the passport if you're a schizoid that never goes outside
This. Our country has betrayed us so I see no reason in sticking around to help fund their WEF dreams. Good luck paying back that cerb benefit
And where do you go? The US is a complete joke nowadays, the only upgrade is milder winters and less pajeets (but you get naggers)
there are many places to go but you gotta pick based on your siutation. stop being a retard and thinking the west is the only game like it was in the 1970s:
https://www.youtube.com/@nomadcapitalist/videos
What would be your top 5 picks.
depends on your situation, there is no one size fits everything which is why i gave the link to nomad capitalist that gives you some good suggestions. im looking for cheap and hot for awhile before the next 2025 crypto bull run
>imagine not owning your home outright
you missed the gains
>you missed the gains
I bought my place years ago, it'll be paid off before I retire.
every single person in canada has an adjustable rate mortgage that changes every 5 years, what's your big plan for when that occurs?
Yeah, we all saw the same video infogram on Twitter. Most Canadians don't have mortgages, anyways. Funny how the next Prime Minister of Canada got on to the rentier train YEARS before his platform was about affordable housing. Definitely had nothing to do with him being cozy with israelites in this country.
I had a five year fixed at 3.1, just renewed at 5.1 for three years. the trick is not to buy a place you can only barely afford.
i dont rent but my "fixed" mortgage is coming up for renewable in a year and i will be spending 5% instead of 1% so i am getting ready to leave hopefully within 3 months. ill have about 150k on my mortgage but all this cost of living increase and now this shit is unacceptable and i have a remote job anyway. the only reason i havent left yet is because ive applied to do bussiness in 2 places so i gotta wait like 1 month and half to see how that goes + was doing MSE Orthodontic stuff to cure my sleep apnea. i have my condo completly renovated, i visited a few places (ukraine, costa rica, UAE) so i am getting a good idea of what i want. my next stop is to do something in asia and see, not sure where though. it suck i gotta stay in this shit hole economic zone with these retards for another 2 months but theres light at the end of the tunnel
you should consider russia, it seems comfy and has a low COL
was thinking about it fren, just gotta research how the sanction would affect transferring my money there but i appreciate the suggestion
>i have my condo completely renovated
You took a variable mortgage out on a condo in Canada at pretty much 0 interest? On top of obscene condo fees? Those were marketed to people renting and foreign investors, you guys are the marks! Good luck in Mexico if you actually unload that crate!
Anon, all Canadian mortgages are variable.
he is quite the retard isnt he
no they aren't
Yes they are. Just because they call it 5 year fixed doesn't make it not variable. Do tell, where are you finding 5 year mortgages?
>Just because they call it 5 year fixed doesn't make it not variable.
Yes it does. interest rates went up, mine didn't.
>Do tell, where are you finding 5 year mortgages?
every canadian bank and mortgage lender
So you mortgaged an entire property for 5 years, after which it will be paid in full? If you could afford thet, you'd have bought in cash. Show me a mortgage that's greater than 5 years that's fixed for the ENTIRE mortgage
Oh you're a shitjeet lmao
Bait.
shh adults are talking.
5 year fixed is actually easy to get right now because the banks think rates will be at least slightly lower in 3-4 years, so they are offering rates that are lower than variable NOW but will be higher overall for the life of the contract.
But really that's good for stability -- people lock into something a bit lower they can get by on and they pay the bank more longterm, whilst everyone remains solvent.
I have a 10 year 2% range fixed rate and own multiple properties that are making great rents right now.
Whether you are a shill or a coping doomer idk but keep doing what you do and see where that lands you.
Not doing yourselves any favours by posting this. We could've happily co-existed, but your genes and religion won't allow you to behave in a way that is Western. Not to mention all of you have parents who are cousins. It's fucked up.
fellow leaf anons be prepared to see alot of these threads in the coming months, every stop will be pulled out to try to workup some fomo because the jig is up, and this party has just got started. If you are in a position to do so sit tight and hoard cash this is going to be the most wild ride in human history.
Expected cooling effect due to rising interest rates. When inflation normalizes and interest rates go back down, you'll see a return to ever rising prices as we carpet bomb Canadian cities with mud people.
>Expected cooling effect due to rising interest rates.
It takes 18 months for the full effect of an interest rate hike to work through the system. We havent seen the worst of the first hike which was last summer, which was a fraction of a percent, and we already have the slowest mortgage growth debt in the past two decades, this isn't cooling, this is frigid, and its just begun.
>When inflation normalizes and interest rates go back down
Interest rates are never going down, and its irrelevant anyway historically speaking they are still very low, yet we have 25% of mortgages in this country in negative amortization, its so bad that Canada guaranty our second largest mortgage insurer is no longer publicly publishing how many mortgages it has on its books that are underwater
>we carpet bomb Canadian cities with mud people.
good luck with that even indians don't want to be here anymore, the lowest amount of student applications we have ever had this year, plus now every single acceptance letter will be verified by the govenrment because of how much fraud went on.
>plus now every single acceptance letter will be verified by the govenrment because of how much fraud went on.
I mean they will still let it through because of just how much they hate whites
In all honesty it doesn't matter to me. I need a place to live. My home isn't my primary investment. If markets magically go into a nosedive in unaffordable cities, that's fine with me. More people will be able to get out of the rentoid life.
>My home isn't my primary investment.
really because you seemed pretty confident high on your horse about muh rentoids are fucked forever with muh ever rising prices here
anyway whatever
>If markets magically go into a nosedive in unaffordable cities
there is nothing magical about it, its already happening, and like I said this is just the beginning. This bubble has been a solid 2 decades in the making its going to take a long time for it to deflate. I am old enough to remember other crashes there is no single event that kicks it off you just start to see more and more amount of inventory hanging around longer and longer. Then shit starts to get really ugly, yes land has value but at the end of the day a house is only worth what someone else will pay to live in it, and of course the whole speculation thing which is why you will often times hear home owners gleefully say oh well my neighbors just sold for 1.4 million, which is all great and well, but when happens when your neighbour sells for 400K under asking??? (which will start soon in the over valued markets as the screencap I posted earlier is showing) I have seen entire housing developments value drop 48% in a year because 2 or 3 panic'd sellers ran for the exit at the same time.
Could you explain why it takes 18 months for the rate hikes to fully affect the market? Only recently has Powell decided not to raise rates anymore so assuming the 18 month timeframe is true, would this mean in 2025 we’ll see the market hit rock bottom or will it be 18 months from the normalization of interest rates.
>Could you explain why it takes 18 months for the rate hikes to fully affect the market?
The economy has a lag. I put 18 months because it's a pretty safe bet to feel teh full effects but on average its 12-18 months. The rates will influence all kinds of things like the stock market, how people spend, how businesses spend, how inflation goes, could trigger recessions etc. Its rare that it is immediately felt. BUT! in this situation it actually was immdeitately felt, in Toronto at least, when the first rate hike occured back in I think june/july 2022, not a single detached home sold the month after because everyone is just on edge wondering wtf will happen.
Isn't this good because only old stock Canadians and their families will be left standing? Or is there enough Chinese money here now we're lamdlorded for life
>Isn't this good
none of it is really good, because waay too much of our economy is tied to housing here. Canada doesn't do anything we convince each other that our 2 bedroom bungalow built on a flood plain in the 60's is worth 2 million CAD$. When housing goes we are in for a very difficult time, Canada is predicted to have the worst performing economy in the OECD for the next 1/2 century which quite frankly is to be expected.
>Or is there enough Chinese money here now we're lamdlorded for life
The Chinese money will run once shit gets shaky, as I said earlier this will take time to deflate its almost 2 decades it took us to get here. The Chinese were only sticking their money here because the government was backing hte mortgages it was a sure thing, there is nothing really that desirable about living in Canada, and our quality of life is eroding quite rapidly. Once shit starts going sour they will pull out. But it will take time.
> chinese pull out
it's not a state reverse immigration program child...
CCP has been trying to stem the bleed of their best people leaving for years now, and the money with it. They can't, especially in the case of the younger women, because china is a next level authoritarian hellhole internet casuals like yourself cant only aspire to understand.
Money is drying up in china, as is their population generally, so they are decreasing as a share of immigrants overall. Which frankly meets the moment because we need more working class immigrants.
weird that a lot of core cdn industries have been rallying then and everyone serious expects a soft landing.
Sure a certain level of poor immigrant can't afford housing but that's fine because we need renters to pay off the petty landlord class that is in the real distress right now.
Even that's relative though. All the people in this thread shilling about reverse amortization don't know shit about how those contracts work. A large % of those are properties owned by the petty landlord class where they just don't adjust their mtg terms and keep the cash from raised rents. In finance we don't see them as actually distressed people as of yet and the rising rents support the sustainibility.
People lapse into negative amortization naturally because that's how the contract is intended to work. It's a nice short term profit for banks but doesn't threaten the industry.
>it's not a state reverse immigration program child...
They got their money out of China into Canada, why couldn't they move it anywhere else.... child?
>why couldn't they move it anywhere else
2011 chinese foreign real estate investment legislation
Yea and all those
>financial experts
Declared rate cuts just before every hike. I can't imagine taking any Canadian economic expert seriously. Seriously, they're ALWAYS wrong. There's no soft landing coming lol
great post
Boomers and overseas chinks are the enablers of this
thunder gun express yo!
weaponizing water was the best thing ever done by anyone ever.
Continue to get berated by my parents for being a lazy shit who don't want to work despite people only hiring naggers and gays around here
gays are too expensive b/c they have advanced cultural and medical knowledge
>went to university
>obtained degree
>work decent full time job
>no debt
>can’t afford a basic 1 bed apartment without roommates
what the actual fuck bros
That's why I have given up working completely. By some miracle somebody hires an unjabbed white straight person its going to be wageslave work for a job that is at least worth 18 dollars. The only reason why they hired me in the first place is because nobody wants the job
never increase
Nothing
Just keep existing and working
I'm better off than most, but not really getting ahead either
>I predict rents go up another 30 percent by 2026
your predictions are irrelevant
rents are tied to income
killed 2% of the entire planet including the closest trade allies to disincentivies the foreigners as a whole with a 69 average.
to those leafs who consider leaving Canada. there is a reason why your borders are being flooded. because anything gets taken into your country. It's much harder to stay here. All the shitskins come here illegally. if you are not brown they wont welcome you here.
Aboot
zoomers don't lose hope
our gen will be able to buy houses
All I had to do was move in with my 19YO chinese landlord and live rent free during COVID in their luxury condo.
I always came inside and now we have one child working on more to fill up all the Toronto properties she owns. We bought a detached house together and are enjoying life.
Protip- PP is the most weasely, insincere poltician in a generation. If you think he is going to help the working class or his tinfoil shills you are a fool.
>bugfucker
>ER breeder
>insults PP
Like pottery
GenX and I live on the streets. Lockdowns took everything from me cause I didn't agree on mandates. Honestly I'm just stealing shit from people now and it feels great to be an asshole who isn't on drugs or drinks.
sounds like cope, all the money for working class is in trades and like fuck do those operators care about mandates
Not at all cope, just being realistic. I'm looking to get hired in the one of the nuclear plants come spring anyways.
well I've hope you've grown up re mandates because nuclear is a great industry that's going to be growing but they are regulation central.
everyone wants to pay less, it doesn't mean they can't take the financial pain in reality.
no evidence of that happening for people already settled here, and the reality is canada is still easier to come to than a lot of g7 spots worth looking at. We will lose the same trickle of people to the USA (they often come back) as we always do but that's fine.
but hey feel free to gamble everything on your tinfoil theory of the international (notisraelites) globalist class moving around with frictionless, reckless abandon.
every day of every month copers like you will predict globabl financial collapse next month.
I promise you when something even resembling a reccession procs you will still get more screwed than the financial class. Recessions are their own opportunity.
Good example, I have a 10 year 2.2 fixed rate thats transferrable. If there really is property collapse people like that will all be trading up.
>45% of mortgages under default threat in one year is not a major concern
Sounds like you bought a house you won't be able to afford and are the one coping lmao. Besides you type like a homosexual and listen to Canadian
>financial experts
So nothing you say matters anyways.
>Any day now rates will drop!
>just buy my fucking house I'm losing equity by the day!
>no evidence of that happening for people already settled here
we are seeing record amounts of landed immigrants leaving and its only expected to get worse
https://financialpost.com/news/economy/record-spike-immigrants-leaving-canada
He's a shitjeet who's coping cause he got tricked into coming to this shithole lmao. He just doesn't want to admit he came too late and missed the party that was the 2000-2015 period. No one with a triple digit iq thinks Canada's economic outlook is positive kek
if thats the case why is housing still so hot?
this is classic clickbait non-math. We have record levels of immigrants period, we will also have record levels relocating. it's all part of the bigger number. Plus frankly there will be a bit at the low end falling out of the bottom because we are bringing in poorer immigrants on average but like I said earlier that actually suits the new needs just fine. You get their consumption and labour for our big industries but no long term commitment, no family resettlement, etc etc.
sorry guys but I'm as old blooded as it gets (1600s french) and let's be real multi-millionaire chinese heiresses aren't lining up to marry indians. I mean honestly if I was it would be pretty impressive I would be like a godmode sikhbro or something so that would be actually more interesting.
But something tells me you guys don't catch the details of these sorts of dating dynamics.
>gets called a financial retard
>starts talking about women
Yea, you're a streetshitter alright LMAO
>if thats the case why is housing still so hot?
its not, its fucking dead, we ahve seen the lowest mortgage debt growth in the past 2 decades. Its stagnant at best, see earlier screencap I posted where realtors are telling people in the Toronto area if you want to sell drop your price by 400k. Canadians have had over a trillion dollars of their "wealth" wiped out since Jan 1, 2023 on real estate. If you were as much as a high roller as you pretend to be you would know this.
Classic bagholder cope
>please...just buy my fucking house!
>look I'm asking 2M for a cuckbox thst means the market is on fire!
>God please my renewal is coming up next year and the mortgage is worth more than the house!
>Shut up incel just buy it fuck!
>ahhhhhhhh the experts said it was fine!
It's probably a tiny trickle of the alien, foreign shit-assed filth leaving but the oligarch cocksuckers know the number will grow and grow. The establishment has ruined Canada and the time to pull the brakes was 30 years ago.
>It's probably a tiny trickle
like all otehr bubbles, it takes time to deflate immigrants leaving will be no different. There is nothing that special about Canada and given the cost of housing, and living in general there are better options. What we will see for probably the next decade if people using Canada as a stepping stone to get into the US
>next decade if people using Canada as a stepping stone to get into the US
I said that would be the main drain in the original post and it's been true since like the 1800s. The thing is that the americans don't make it easy and it's not getting easier. So typically you see next generation move to the usa but many don't stick it there and come back.
are you a bot or just can't read? I have 8 years left on a 10 year fixed at 2.
like I said theres a fair argument we are at the low now or by 6 months yet this thread is about how prices are still super high?
Also by this time next year $900b worth of mortgages will be up for renewal and most of them can't afford the new rates. Remember 2008? Good luck boys, we MAY have a chance to buy in 2025
you say that as if we aren't bringing in 500-1mill people a year. But we are and we should, no party would change that they will just change who comes. Look at any economic report and you'll see Canada is basically in a recession in terms of industry, but the sheer volume of immigration is keeping the economy going on the consumer end.
The libs will bring more white collar types to fill up the schools and keep that kind of economy going. The cons will bring in more temp workers to please their keyholders over at the agri cartels. But they will both do lots.
You think shitjeet with $900bucks in the bank is buying homes? I'm not talking about rents (which are going to skyrocket) I'm talking about mortgages. By the way, the economy is not being kept afloat at all. Sales are plummeting going into the Christmas season in retail. It's over. Not even mass immigration can keep this shit vessel afloat.
How are you so out of touch with what goes on in your country? Jeets have 20-30 in one house and they all pool their money together to afford shit like rent and mortgages. They also commit mortgage fraud as well
Sihks function like a mafia too. But, mentioning that is racist.
its around 45% who flat out can't afford the new rates, as in they will be underwater as soon as the rate is applied.
>you say that as if we aren't bringing in 500-1mill people a year
And have them do what? Canadian businesses have hit a 10 year high for bankruptcy's, mortgages are so detached from incomes that only the top 9% of earners in the country can afford houses.
if you want an idea of how bad its got here, an abacus poll recently showed that 33% of CONSERVATIVE voters said they would change their vote to liberal next election if the liberals lowered the cost of mortgages.
I can't wait for the mortgage crisis. All the retards who thought historically low (and still low) rates would last for 30 years deserve this
Hey nagger, when 45% (at least) will be underwater by 2025, no amount of shitskins in a Brampton basement is going to save us. The entire banking system is under threat. Pajeets have been nothing but a Band-Aid solution, and now the wounds are mortal. Take my advice or don't, I don't care. But my suggestion is start saving and buy physical assets.
>rent controls
Tell me you've never read a single book or taken a single class on economics in your life without telling me
when does the excitement start?
arrest that chink puppet piece of shit doody head
he was run out of restaurant last week by "protestors"
HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
my in laws are not western boomers. they are based slavic Catholics who sacrificed everything for their kids. they bought us a house and we will sell both houses to live together and take care of them and they get older.
rent control increases demand and reduces supply. that's why it always fails. its a common case study in economics textbooks
>what's your plan to keep a roof over your head in the upcoming years?
There isn't a plan. The way it's going to happen is through annexation.
Living in the woods
Nevermind even being able to access mortgage credit, or having enough savings to rent all months outright. Getting past thr landlords application processes are impossible
As i say, this is a fake reality, non of these rentals actually exist
Just move to the country. My house cost me $100,000 and I have a three-lot property that is mostly yard.
Boomer asks me why I'm not saving for retirement. I say I am, but I'm not retiring in this shithole.
The planet? Are you and Elong moving to Mars. The brown world surrounds and now infests the West due to boomers completely bowing down to a larping hooked-nosed bunch of inbred criminals. Enjoy Mexico for 4 more years, I guess.
I pay 1400 (600 below local average) a month because I moved in before everything shot to the moon and they aren't allowed to evict me or raise prices more than 3% annually. I put all my money in recession insulated stocks and assuming everything doesn't go to total societal collapse tier shit I can probably buy a home for cash when it all comes crashing down.
idk honestly theres a fair argument that now or soon will be the lowest it gets too and I'm seeing that on the market... Like hosing is relatively down but not down since pre pandemic except in those super hot meme townhouses every idiot was bidding on.
Sounds like you have a decent position but keep an eye on things now not just in 3 years.
see above, the long trend or even pre pandemic vs now is fairly restrained, and could be at its low now or soon. which is all to say housing in canada is so expensive that it may be at its lowest now but still unaffordable
Yeah I have notifications set up for condos and townhouses that get fed into my email but until I have enough saved up for a larger down payment or outright it's mostly watching and yeah prices have been crashing, shit is getting left up for months even after having 20k slashed from the original ask but I'm still seeing Condo's that sold in 2020 for 200 listed at 380.
>asking
But are they moving? Anyone can list any price they want. Doesn't mean it's selling. Toronto real estate is frozen right now and bagholders are refusing to acknowledge it
You aren't white I don't care what you have to say
Upon rereading the comment to my first reply, I'm not sure if you're agreeing with the shitjeet or not
>may be at its lowest now
its nowhere near its lowest now, tell me what happens when a country currently has 25% of its mortgages in negative amortization, and an estimated 45% not in negative amortization are predicted to go into negative amortization over the next year and a half? The situation is so dire that the OSFI told banks that they had until november 1st this year to double their rainy day funds in case of a black swan event
https://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/dsb-rsi-20230620-nr.aspx
But I am sure you know better then the OSFI right?
> the worst we can imagine is only double your current reserves
ok idk if you can tell that I am in finance but that's actually not that bad. It represents the banks shifting funds from stocks to bonds. It's NBD. Black swan is the 1% or less extreme downside.
Meanwhile the upside is big for tha banks for all these solvent reverse mortgage and teaser fixed rate people getting locked in.
Which is why bank stocks are rallying right now, they own the potentially most profitable portfolio in canada for the next few years. since we are ass at tech and other innovation
> you aren't white trash like me so I will invest as many distinctions as I can to cope
to be fair now with most wealth in most cities being 1st or 2nd gen immigrants from the pre covid waves, the new elite class will be like my children eg mixed race. The new laurentian elite for sure, bilingual or trilingual. You can keep getting pushed farther and farther out of society and invent as many copes as you want in the meantime while we put out our 3rd or 4th child.
>white trash
>Shitjeet still thinks I care about his opinions
Lmao
You do understand that you're a homosexual, right? It's all pretty much done. Get a real job and do something useful before they have us all on welfare.
who is they? Both I and my wife make an easy 6 figures plus rents and get to chill at home most of the time. Maybe I'm they?
woah
How are you even on this board and not know what that even means? Your post proves that you are a part of the problem or..
>ok idk if you can tell that I am in finance
You arent in finance, and here's why I know you aren't
>but that's actually not that bad.
During covid the osfi lowered its DSB from 2.25% to 1% it caused a flood of 300 billion into the monetary system which fueled the insane housing price jumps we saw in 2020-21, now they are are jumping almost twice as much in the opposite directoin, and you think that's "actually not that bad" Shitty larp dude
downside solvency and interest corrections are always going to be steep functions, and fiscal laxity creeps slowly. That's just how it is.
Cities have a fertility rate of 1.0 or less.
Statistically you will have 1 or fewer (0) children.
By cities I mean GTA and GVA
Large home and no mortgage in highly coveted are. My daily inner monologue consistently plays Sargon’s smug chuckle over this. Good luck leaf anons
I hate it here, in Quebec I'm already being raped with taxes, I was thinking of going to the west (Frenchies are mostly leftist homosexuals anyhow) but it doesn't even sound that good there
unless you live idk in deep northern rural quebec, living in the laurentian corridor is incomparably based to anywhere else in the country in terms of amenities and bang for buck, let alone the culture and geography.
So maybe stick it out. You can always move to ottawa btw.
> you're wrong
>ok maybe you're telling the truth but that makes you morally wrong
excellent cope coverage you have there.
>averages
what this actually means is I will have 3-4 children (well on the way) and all the poor decision makers and copers in this thread will have 0 children.
Don't worry though immigrants will pick up YOUR slack.
I guess Ottawa could be okay? But tbh, I'm one of those Anglo-Quebeckers so I wasn't as into the entire French culture
>~~*inclusivity makes dreams come true*~~