Report on Business just reported that sales of existing Canadian homes fell to the lowest level since the mid-1990s last month, with activity dropping by 41 per cent in January from a year ago.
Why is nobody talking about how this affects the banks? That's right folks, our Canadian banks are going to have BIG problems, as it appears that we are only at the start of this mess. These clowns have been lending massive amounts of money out for overpriced houses in Canada. And if you think American CEO's are clueless, you are about to see a whole NEW level of stupidity. We've had the opportunity to see what was going on in the states for christsake! We got a preview and yet nothing was done. The Canadian government, the Canadian people and the banks all played their part.
My positronic-brain warned me about the Canadian housing market melting down late 2007. It's incredible that people refuse to see the light (even now). Garth Turner has been warning about this for a long time now. He's doing tours, publishing books and still people think he's wrong. They couldn't be further from the truth.
Canada is going to go through the worst recession since the 1980's. That's a fact. I assure you, if haven't changed your spending habits by now life is going to get rough for you.
Why is nobody talking about how this affects the banks? That's right folks, our Canadian banks are going to have BIG problems, as it appears that we are only at the start of this mess. These clowns have been lending massive amounts of money out for overpriced houses in Canada. And if you think American CEO's are clueless, you are about to see a whole NEW level of stupidity. We've had the opportunity to see what was going on in the states for christsake! We got a preview and yet nothing was done. The Canadian government, the Canadian people and the banks all played their part.
My positronic-brain warned me about the Canadian housing market melting down late 2007. It's incredible that people refuse to see the light (even now). Garth Turner has been warning about this for a long time now. He's doing tours, publishing books and still people think he's wrong. They couldn't be further from the truth.
Canada is going to go through the worst recession since the 1980's. That's a fact. I assure you, if haven't changed your spending habits by now life is going to get rough for you.
I've sold the Ferrari and bought a more-reliable daily-driver Porsche, bought a backup power generator for the Xbox 360 and bigscreen TV and started recording my own new episodes of "House" with my camcorder... just in case the end of the world hits.
We now return you to your regularly scheduled programming… “When Houses Attack Owners” only on Ranting-TV…
We now return you to your regularly scheduled programming… “When Houses Attack Owners” only on Ranting-TV…
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