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  • cottonpicken
    Senior Member
    • Apr 2006
    • 6993
    #1

    Its over

    http://www.bnn.ca/News/2012/9/17/Economists-warn-housing-correction-taking-hold.aspx

    Top is definitely in,in housing.

    Expect a 1-2% month over month decline.

    400,000 dollar house in calgary,4-8 thousand dollar a month decline on your balance sheet.

    Whats that banks add "your richer than you think"???

    This is really going to hurt,but i'm going to make some money off it.
    Tags: None
    • LWeber
      Senior Member
      • Nov 2007
      • 1433
      #2
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        Comment

        • mbratrud
          Senior Member
          • Jun 2008
          • 1019
          #3
          I wonder what the price support level is on a $400,000 Combine..... Nobody should be surprosed this is happening.

            Comment

            • HappyFarmer
              Senior Member
              • Jun 2012
              • 433
              #4
              I am curious if you would explain cotten how you are going to make money off of this. (Don't take that as i don't believe you because i do believe it!)

                Comment

                • hedgehog
                  Senior Member
                  • Oct 2009
                  • 619
                  #5
                  how come montreal is so cheap,?

                    Comment

                    • burnt
                      Banned
                      • Sep 2009
                      • 3918
                      #6
                      Well it IS Montreal . . .

                        Comment

                        • Hopperbin
                          Senior Member
                          • Dec 2007
                          • 6562
                          #7
                          Price support date of Aug 2045 for Calgary? Hmmmmm, Where is Saskatchewan. Ya how are you going to gain on this one or is it too late already.

                            Comment

                            • bgmb
                              Senior Member
                              • Jan 2007
                              • 1645
                              #8
                              What do you think will happen in small town
                              manitoba and saskatchewan, where mean prices
                              are in the 150-290000 Do you think they will
                              follow the city prices down? My gut
                              Feeling is they wont.

                                Comment

                                • bgmb
                                  Senior Member
                                  • Jan 2007
                                  • 1645
                                  #9
                                  150-200000 not talking about bedroom
                                  communities or suburbs thinking more towns like
                                  yorkton portage dauphin

                                    Comment

                                    • charliep
                                      Senior Member
                                      • Oct 2000
                                      • 9002
                                      #10
                                      Just curious if you believe houses in resource based
                                      economies will suffer the same fate. Employment and
                                      opportunities I think will remain good in Alberta and
                                      Saskatchewan with an impact our 2 provinces will
                                      remain preferred places to live. Not immune from
                                      what happens in the rest of the but will remain
                                      insulated from the full impact of whatever happens.

                                      Table is interesting in that deals with extremes.
                                      Bought my house in 2001 for $135,000. At the peak,
                                      worth $400,000. Lots have traded in recent years in
                                      the $300,000 to $320,000. Current value likely
                                      $270,000 ish. Never have borrowed on built up
                                      equity. Prices have been irrelevant - a hedge in that
                                      what I get doesn't matter - a hedge against whatever I
                                      purchase to replace it.

                                        Comment

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