Canadian Economy
Someone talked about “Plan B – Moving to Canada”. It’s a mixed bag:
- Business lending tightens across Canada
- September employment soars unexpectedly: Canadian employers create 107,000 new jobs, led by health care, blowing away consensus forecast of 8,000
- Ottawa buying $25-billion in mortgage pools: The federal government’s move is designed to backstop Canadian banks’ capacity to lend money – an acknowledgment that not even the country’s strong system is immune to the global financial crisis
Do you know what happening in Europe, in UK???
It seems like old seek men.
So are you suggesting that it’s better to stay here?
For me, it’s not so simple, it’s pretty complicated story.
For the other hand, after-the-crash period will better opportunity for the real-estate picking and hunting, you know.
No doubt, i would like to move to Europe and gorgeous Canada is plan “B” only.
But i think, the north-american prices’ drawdown wich we’ll see at 2009-2010′ will much deeper.
And you?
BTW, Canada is number one in worldwide banks rating.
Yes, we have a monopoly/oligarchy realy, of 5 banks with only one of them getting into trouble every once in awhile. The situation is very different from the U.S. or Europe. When there’s less competition, banks aren’t really forced to give out many suprime mortgages because they can charge through the nose.
There are very few banks, and they’re highly regulated and extremely conservative. I must say, as much as I’m against buy-and-holding stocks, if I was forced to pick one, it would be one of the Canadian banks.
R.,
the prices will probably drop. They’re already warning about 10% drop in Canadian real estate, but mostly in the Western provinces, because there was the oil-and-gas boom and RE went up too much too fast.
Toronto never really heated up as much, we had relatively steady increases, though higher than the typical 5-6% per year. But they’re now saying that even Toronto property prices will go down because 75% of Ontario’s exports are to the U.S. And it’s true, Ontario and Quebec depend on the States a lot.
We’ll see!
I get panicky sometimes and think it’s time to sell the condo, but then I think what if it’ll be hyperinflation and not deflation? Don’t know what to do. Meanwhile, we’ve got to live somewhere, might as well stay put for now.
According to the link you posted, Canadian banks are #10 in competitiveness. Not bad, but honestly they abuse their monopolistic powers. Just like our telecoms do, too.
I’ve checked the separate paragraph 8.0.7 “Soundness of Banks”, it was much better, number 1…
It’ll be stagflation, nor deflation. The real estate’s low may drop current prices to 25-30%, i hope 🙂
Inflation but high unemployment and no wage growth. Wonderful prospects *sigh*
25-30% all over the world? Based on what?
Based on Alan Greenspan’s things, for example 🙂
How can you listen to Greenspan now? He created this mess, and now gives advice and predicts what will happen? If he was able to predict the effects of his actions, would he still do what he did?
I believe he did know 🙂 and that was the plan from the start. Still, my point is the same – how can you trust him? He’s a lying sack of cr*p, imo.
If the downside is limited to 25-30% then we’ll be fine. I’ll stop worrying about it for now. We’ll probably sell some time next year before our mortgage term is up.
No country for old men 🙂
Just do see again all the the markets drops, do analyse the economic process, not just make money from those drops 🙂
Oh, I am analyzing it. Going back 2,000 years to see parallels.
This is why I keep mentioning war. “There will be blood”.
Daniel D. Lewis was amazing, isn’t he?
OK, just play with trulia.com statistics(for example) and check up this old and bald guy’s datum 🙂