Loading ...WHAT THE FUCK IS HAPPENING IN CANADA
Sent from out intrepid Goldtent Content Provider ..Brian A
This is incredible but depressing analysis of the situation here ….from a Reddit Thread
https://www.reddit.com/r/collapse/comments/15h5ond/what_the_f_is_happening_in_canada_a_high_level/
Must read, in my opinion. This guy has open eyes, unlike virtually everyone in this country. Canada is finished. Get ready for race wars. Canadians have pissed away a great country. They will never get it back.
Parts of this I agree with, other parts not so much. First of all, the part about people not having children is bullshit. I live in a ski town. The local school cannot keep up with the growth and the average family has 3 children. It’s been this way for years, and the city of Kamloops is not much different. The local school district can’t build enough schools in a given year to keep up, so one catchment area is always pushed to the bottom of the list.
Rents in Vancouver are $2900 you say? That’s interesting. I am paying $2350 a month for a one bedroom and I have underground parking included in that. And I’m in a desirable area and it’s a new building.
The over-inflated housing market, years of lack of controlling foreign investment, etc….that I agree with. In this province anyway, unless you are a member of the lucky sperm club (bank of Mommy and Daddy), forget about home ownership in any of the major cities. That said, there sure are an awful lot of 30-something young families living in 4-5 million dollar houses around here, and they ‘aint all renters. So it’s either bankrolled by parents or else they make astronomical salaries.
I do agree the country is toast, but not for the same reasons that this author points out. Problem is convincing “the other half” to leave the country with me 🙂
Very interesting reading. I concur Strider. And it rings true. Although I have spent very little time in Canada these past years, the two things that have struck me most were the home price appreciation (which is off the charts nuts and can only end in a massive price deflation when the dam finally breaks) and the absurdly high rents which seem to me like unapologetic gouging. Nobody wins except those with paid off mortgage free property and tenants. The rest of the country are net losers whether they are entering the home market or just trying to survive it with their monthly extortion payment. What a shit show. Who can live there anymore and when will sanity ever prevail. It makes me suspect that the plan is to crash the banking system one fine day when the rug gets pulled. Everyone will be homeless that day.
Excellent read, thanks for sharing.
I had no idea about typical Canadian fixed rate terms. 2018 article BTW.
“Five-year mortgages are the most popular terms in Canada. Speaking to a few mortgage brokers, they say that many Canadians opted to refinance back then to take advantage of better rates. The end result is five years later, all those mortgages are coming up for renewal.”
http://business.financialpost.com/personal-finance/debt/jumping-mortgage-rates-further-tighten-debt-vise-for-canadians
https://www.allmystery.de/i/te9fe9d_Matrix_Morpheus_Battery-cde394524cb186bb.JPG
“The Matrix is a computer-generated dream world, built to keep us under control in order to change a human being into this.”