- advertisements -
Great, i am going to foreclose one and get one from JPM
Are they giving free lonas with negative interes?
Is it a good time to buy a hobby farm, out in the sticks (Canada)? My elderly parents were wondering.
Allow me to save you some time with this condensed version.
"Many observers at the time realized that too many houses were being built, homeprices were rising too quickly and lending standards were being dangerously compromised in fueling the bubble."
LMAO... that's not how I remembered it. All I heard was buy, buy, and buy another one. Rewrite history much?
"Many" as in the Fabulous Fab and John Paulson....
Housing: Now is the Time to Buy MBS
A Presentation to the Federal Reserve
Yow! Just blew vodka out my nose. Would appreciate a more specific warning.
vodka and zerohedge Friday night is not the ideal way to prep for the weekend...unless you were about to buy a house. Because Fed is so confident in the economy that they said they will have ZIRP for next 2 years.
I believe the correct quote is:
"Now is a good time to buy, or sell a home."
Thank you David Lereah...
Strange, I heard the same buy, buy, buy story for stocks this last week as well.
the time to buy will be at 10oz/ AU: 1 Median house.
I love the disclosure right next to the logo at the end:
NOT FDIC INSURED | MAY LOSE VALUE | FRAUDS R US
Is it normal all I can see is a two-wheeler desperately spinning out of a recurring dream instead of what is supposed to be pdf file ?
I am missing the humour.
and in the really tiny print: BITCHEZ!
The only bubbles appear to be Vancouver and the tar sands cities like Calgary/Edmonton.
Looking at S.W Ontario. Land prices are pretty steep: $700,000 for 10 acre crop farm. I don't know if that is a "bubble" or not...
SW Ontario land is pretty rich (in a farmland type of way).
The problem with "out in the sticks" is what happens when gasoline goes to $15/gallon?
No one sends food to New Yawk or DC.
And small towns regain their significance.
Richard Cantillon's Essay on the Nature of Trade in General laid it all out nearly 300 years ago.
Good luck with that.
Read The Hunger Games, a book for teenagers about what totalitarian government does when insurrectionist/secessionist regions stop sending Caesar's share back to Rome.
Guess that depends if you have to drive to work and/or how far away your food actually has to travel. Might want to avoid population centers for a while.
Horses increase in value.
"Horses increase in value"
Spoken like a true horse trader.lol
Amazingly, the bubble hasn't popped yet in Canada. Buyer beware.
Google what you can buy in Vancouver BC for $1 million. It's funny.
Thank the Chinese.
"Thank the Chinese."
Germans actually. Which you might know had you ever been there.
Actually it's popping as we speak... Some areas have gone cold and inventories are mushrooming. The prices really have not gone dawn yet cause sellers are waiting for the soft spot to pass (transitory) and are holding their price. Unless your a momo, know is the time to short that bitch.
Just wait until Fukushima finishes enriching the place. Then the fun really starts.
LMHA (laugh my hair off)
Not quite yet.
Ben Bernanke also has a part in this... Canadian central bank had to keep interest rates low to "compete" with the global market. lol In this competition you want your currency at zero. F-cken meatheads. Ben Bernanke is like a retard hopping along in a potato sack, so what does Mark Carney do? (Canadian central banker) He grabs a potato sack, has a 26'er or rye and decides to race the other retard Bernanke. Don't they look smart. Two retards hopping side by side in an open field with genuine dumb ass grins on their faces. It's a thing of beauty. The race to create the next bubble. ahhhhhhhhhhhhhh
I kind of agree that there is a real estate bubble in Canada. But...I'm so happy to be back home. Canada is a large country with a small population with incredible resources. We will do well. Unless the US invades us because of all the arctic oil. Or Jamie Dimon wants to take his smackdown of Carney to the next level. Canadian investors aren't that smart and they are conservative. They didn't take risks via CDS so little exposure.
Have you played Crack Shack or Mansion?
That's an excellent site! Pretty funny haha
nah...wait until we have our housing crisis.....people running aroung my neighborhood with $500K / $600K mortgages because the banks let them. Because we're Canadian nothing's going to happen here like the US housing market. Yep.....stay tuned
if you have to refer to canada as the sticks, chances are your attitude as well as your parents won't be welcome there for too long, you might want to try hobby farming in east LA instead
you'll go over great there.
Just makin' Jamie proud so when they all meet at Roosters later today the idiot author can say he recommended something.
How could anyone trust a bank for investment advice at this point? Rule of thumb, if a bank is selling, so should you-first if at all possible.
Remember that you are their counterparty, not their client.
Run Little Rabbit, run, run away.
the only thing it may be a good time to buy is some JPM put options
Forgive my language but what fucking planet are these morons on?
On planet earth. Just on a different dimension. Hence the talk about "Surreal" by some ABBA fun chairman turned philosopher, proving they are all deep inside Plato's cave.
You may have coined a new phrase..."surreal estate."
i wish i had thought of that
Yup. 10,000 baby boomers retiring every week (and probably wanting to sell their house to some schmuck), 85% of last year's college grads living with their parents, less people making $50K or more per year than there was in 1997! Where is the greater fool going to come from to buy your house? No household formation equals no demand.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.