Re: economics - Saab General Bulletin Board - Saabnet.com
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Re: economics
Posted by Tim (more from Tim) on Fri, 9 Jul 2010 10:34:17
In Reply to: Re: economics, James, Fri, 9 Jul 2010 04:16:24
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(had to split up the post and remove much content because long posts seem to be rejected by the BB software)
From a more "fundamental" point of view, the Canadian bubble is driven by the Chinese/Asian export bubble (just look at the buyer pool bidding up Vancouver real estate) and the historically unprecedentedly low interest rate. Canadian real estate has much higher percentage of short-term loans and adjustable loans; 30yr mortgage is much more rare than in the US. When interest rates go up, the Canadian real estate market will be toast, just when the Chinese/Asians realize that buying real estate in Vancouver (and the rest of Canada) is not portfolio diversification for them at all because they are bidding against their neighbors back in Asia; Canadians are not waiting in line to pay the price in order to live there but merely speculating on the "greater fool theory" if at all interested. The speculative hopes for "greater fool" lining behind behind oneself is a big contributing factor to bubbles and crashes.
posted by 71.184.95...
Posts in this Thread:
- Psychic moved in next door - do people really go!?, Craig, Tue, 6 Jul 2010 18:29:50
- Wow, tons of responses!, Craig, Thu, 8 Jul 2010 11:42:18
- I have a theory, TML , Wed, 7 Jul 2010 09:41:19
- Psychics are proof that some people, Noel, Wed, 7 Jul 2010 05:08:37
- Re: Psychic moved in next door - do people really go!?, Scott Paterson , Tue, 6 Jul 2010 19:58:48
- Re: Psychic moved in next door - do people really go!?, 93Gator, Tue, 6 Jul 2010 19:08:54
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