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  #1  
Old 03-27-2009, 02:56 PM
trent trent is offline
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Default Subprime meltdown in Canada

For all the people who still think Canada doesn't have subprime mortgage crisis in the making, you better read this:

http://www.theglobeandmail.com/servl.../National/home

Even if the borrowers were paying their mortgages on time, their properties might have to be foreclosed simply because the subprime Canadian mortgage lenders don't have the capital to renew the mortgages and bigger financial institutions won't touch those mortgages either.
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  #2  
Old 04-03-2009, 08:49 PM
Canadian Canadian is offline
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Wait until the so-called prime borrowers start to default in droves. This ride is both scary and fun .
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  #3  
Old 04-29-2009, 08:10 PM
bullish bullish is offline
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Keep on dreaming guys. The housing market in Canada is just fine.
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  #4  
Old 06-07-2009, 12:40 AM
trent trent is offline
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It looks like it will take a little longer for the crash to materialize, however it's delusional to think that here in Canada will be different than UK, US and/or Australia.
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Old 06-18-2009, 02:39 PM
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Quote:
Originally Posted by trent View Post
It looks like it will take a little longer for the crash to materialize, however it's delusional to think that here in Canada will be different than UK, US and/or Australia.
I share the same view, however prices in Toronto are not going down yet. I'm tired of waiting, however I would never buy at the top of the market with interest rates that low.
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  #6  
Old 06-19-2009, 02:25 PM
trent trent is offline
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Have patience my friend, have patience .
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  #7  
Old 07-06-2009, 08:56 PM
Jason Jason is offline
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Actually the June 2009 average price is about 2% above June 2008 for GTA.
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  #8  
Old 07-07-2009, 08:21 PM
trent trent is offline
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Quote:
Originally Posted by Jason View Post
Actually the June 2009 average price is about 2% above June 2008 for GTA.
So what? These are the final days of the bubble, and it may take a few months longer for the crash to materialize, but one thing is for sure, there will be one.
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Old 07-09-2009, 02:06 PM
Canadian Canadian is offline
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Jason, just curios how old are you? Have you seen a major housing downturn in your lifetime?
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  #10  
Old 07-13-2009, 03:13 PM
trent trent is offline
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Quote:
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Jason, just curios how old are you? Have you seen a major housing downturn in your lifetime?
I don't think he has seen bad times in the housing market yet.
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