Interesting News from the Canadian Property Bubble...

Tiners

https://www.bloomberg.com/news/articles/2017-04-26/home-capital-gets-c-2-billion-loan-will-miss-financial-goals

Remind me again... who was it who got the Canadian bubble inflating nicely?
I hope it wasn't someone who now has any influence at all over UK economic policy!:D

Thrugelmir

Seems as if the Company management have dug themselves this hole.

michaels

Looks more like a bank run than a housing market problem

carslet

michaels wrote: »

Looks more like a bank run than a housing market problem

It is a bank run, but that won't stop the doom crash people thinking it will be the UK next

AG47

carslet wrote: »

It is a bank run, but that won't stop the doom crash people thinking it will be the UK next

Any bank run is not good for the global economy. If it's some South American country or something, maybe not so bad, bt this is Canada.

And look who we have as the Bank of England governer....

padington

Three new whacking big Canadian property taxes and Vancouver is still up 15% a year.

Terrible property market

Conrad

AG47 wrote: »

Any bank run is not good for the global economy. If it's some South American country or something, maybe not so bad, bt this is Canada.

....

It doesn't follow at all. Canada and Australia did not suffer the credit crunch banking crash contagion we and others did.


Similarly the big bust the Asian Tiger economies suffered in the late 90's did not really spread.

kabayiri

padington wrote: »

Three new whacking big Canadian property taxes and Vancouver is still up 15% a year.

Terrible property market

Why?

Vancouver is attracting a lot of foreign investment in to property, particularly from the Far East.

Does this pattern sound familiar to you Londoners?

I can't complain. My family spent a million bucks on a 1 bed place on Victoria ages ago. If it's okay for them to accept Western money then they should accept it from elsewhere.

padington

kabayiri wrote: »

Why?

Vancouver is attracting a lot of foreign investment in to property, particularly from the Far East.

Does this pattern sound familiar to you Londoners?

I can't complain. My family spent a million bucks on a 1 bed place on Victoria ages ago. If it's okay for them to accept Western money then they should accept it from elsewhere.

Why? I don't know, maybe lots to do with the fact that Canada is one of most popular places in the world. They are the kings personal freedom and people rate that currency these days. The perception is also they have a very safe banking system and they are currently open to immigration.

The bigger truth might be something to do with lots of loose money floating around. They are a lucky country also in that they have a load of land mass so loads of natural resources possibilities.