Home Capital Group

[iceman]

Absolutely Ice. They are leaving because they think prices are likely to head lower not higher. Higher interest rates and land taxes will see to that unless B of C does US style quantitative easing.

Not sure how B of C could do that without destroying the Lonnie in the mean time. Can't really ease with the Fed tightening. Maybe Errol can enlighten us. This is above my pay grade.

Iceman Out

[agstar77]

Can not sustain 25 to 30 % increase per year. Housing will drop by 50 % in TO and Van.

[iceman]

Had to draw on the 15% line of credit today
Tomorrow they report earnings
It's over close the door

Iceman short out

[sumdumguy]

Where the hell is our "Securities Commission". This is the same crap as went on in U.S. Before the 2008 crash. Sub-Prime mortgages and brokers out of control, falsifying eligibility paperwork. Houses for free. They aren't satisfied that borrowed money is being used for free already. The governor and the securities should be hung out to dry. That this is happening just 9 years after the big crash is rediculous. Fire them all and kick their arses all the way to Syria.

[macdon02]

One thing a person has to understand, Home capital is/was lending to people with less then stellar credit. It's still foreign capital fueling Toronto and Vancouver imo, it's all about CAD dropping. Bonds...... oh those 30's. That pullback in July screams crash. It was too sharp. So foreign money is looking for a place to sit, there's more money in bonds than anywhere and it wants something they can touch I'm thinking. They are just parking it and they don't want exposure to govt debt. Hey if your house is over valued and you think a crash is coming, mortgage it right to the absolute max and prepare to walk away from it. Let the bank take the risk, you got the cash. You're hedging the value by borrowing against it for cash. There are a lot of cheaper countries in the world to live in. It's just a house.

[farmaholic]

Now there's an interesting concept....should I do that with our farmland?

[sumdumguy]

How much money could I borrow against my doghouse?

[zeefarmer]

Read this morning that the Canadian finance minister won't rule out a bailout for Home Capital. To big to fail I guess...

[sumdumguy]

Read this morning that the Canadian finance minister won't rule out a bailout for Home Capital. To big to fail I guess...

There should be some ars kicking not bail-out. These lessons should have been enshrined in our constitution after 2008. What kind of governments do we elect? Harper buff-oon!

[sumdumguy]

Giving away saver's money like lolly pops when over half of Canadians do not even have $200 in their pocket at month-end? Everyone driving Mercedes on credit, RV's all on credit, boats, vacations, big houses, this is insane!

[zeefarmer]

Agreed sumdum. I sure wonder some days why I'm busting my tail trying to get ahead when everyone seems entitled to what I've worked and risked for. I'll just quote a fellow off of Agtalk. "This will not end well." When it ends I don't know.

[furrowtickler]

Agree with the last two , this is going to crash hard . You can't spend $2 for every $1 you make - it's gonna crash sooner than later.

[hobbyfrmr]

So, do you guys mean that the $68,000 fifth wheel camper and 2014 super duty truck pulling are not paid for?
What does this matter? Mom and Dad are making memories with their young family. Thats what its about. Kids dont care how much money you make. They will remember the fun times with Mom and Dad even if some stuff goes away this winter.

[farmaholic]

Setting lifestyle standards for the little bastards that they may not be able to maintain themselves as adults? ...way to go mom and dad!

Credit should be a privilege not a right!

Few want to start at the bottom and if the "Joneses'" can have it why can't I?

[farmaholic]

No one gets executed or imprisoned for declaring bankruptcy. ...what do you have to lose if you have no conscience or don't care? Debt write-down, mediation, restucturing, interest waived, repossess?

Go for it, live large!