Nearly 2 in 3 homeowners won't sell because of how much it costs to buy again: CIBC

CBC News

And we begin entering the end game when it comes to the housing market bubble.

"Fifty-four per cent said they don't think prices will drop and will keep rising forever." Er, that's an alarming statistic. Nothing is infinite in a market. At some point in the future, a million dollar home will become worthless. And then rebound to its natural price. And a great many people are going to lose a whole lot of (fictional) net worth.

At this point, it's any year now. Perhaps it's any month now.

Comments

Private Equity is a TERRIBLE Investment... Who Keeps Giving Them Money? — How Money Works

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The human 'superpredator' is unique -- and unsustainable, study says

Los Angeles Times I can't imagine the world in ten years time. Twenty years. It'll be different. As different as the world was even in my own childhood. As different as the world was from my parents' childhoods. My elders speak of our role on this Earth as caretakers. However, we've abandoned this role in favor of materialistic pursuits. Of finite beliefs that will quickly degrade into ash when stressed, as heated glass touching cold water. All cultures historically warn us away from over-indulgence, and yet our own modern society celebrates this behavior as exemplary. This self-interest is our fatal flaw. We take what we want, and we give nothing. This cannot last. There are limits on this Earth we cannot comprehend in full. It is simply too vast. However, what little we do know should terrify us into acting more responsibly, even if only marginally. However we do not even do that. Our leaders urge us on to continue on as we have done. This cannot last. Eventuall...

The potential Canadian federal government budget

If Trudeau has brought in Mark Carney as a kind of special advisory role, then it's likely the upcoming budget will resemble the budget the Labour government in the UK unveiled just recently. It'll likely be a large stimulus bill aimed at getting cash into hands and raising taxes on the wealthy and corporations. If the howls for Trudeau's resignation are any indication, he's probably placed a lot of confidence into Carney, and why wouldn't he? Carney's well-respected and liked by the Canadian public and seen as someone who's able to stand up to bullies such as Harper and Poilievre. The work in policy Carney has done recently inspires me quite a bit, and I'm quite a bit of a radical, standing considerably to the left of the federal NDP. From the results of the Cabinet shuffle, Trudeau seems to be keeping Carney at arms length away from the Cabinet, but I wouldn't be surprised if Carney is on speed dial for both him and the entirety of Cabinet. But it...

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