XPost: can.politics, can.general, alt.politics
XPost: alt.fan.rush-limbaugh
On 4/29/25 10:50 AM, Governor Swill wrote:
On Mon, 28 Apr 2025 16:55:05 -0400, c186282 <[email protected]> wrote:
On 4/27/25 11:51 PM, David Dalton wrote:
April 28 is federal Election Day in Canada.
I called it Erection Day in the Subject line since one
main focus of all the platforms is home building.
Well, 'home building' is important - but HOME PRICES
are even more critical these days. The populations in
Canada/USA haven't gone up very much, there ARE houses,
but the PRICE ... wow !
The 'good news' is that the latest real-estate bubble
seems to be bursting. Of course for recent buyers and
lenders that ain't such great news, but for Joe Canuk
Joe American it'll be welcome.
This will be TWICE in recent memory that there's been
a huge real-estate bubble and crash. This does DAMAGE.
Nobody learns a damned thing. Not sure what can be
done on the legal/regulatory level to calm down this
process - the consumers MUST have the wit to reject
inflating prices, NOT buy until things stabilize,
until the Gold Fever epidemic fades away.
The same thing always happens every time a real estate bubble bursts.
The investors who have cash or long lines of credit buy up properties
and rent them. This also ends the bubble sooner because so many
properties are taken off the market.
Each real-estate bubble is a BIT unique.
LAST time, it was mostly funded by brain-dead
lenders - to people SURE they could flip the
properties for double the money and Get Rich
Quick.
The crash was VERY hard on the banking sector.
Mass numbers defaulted.
THIS time, it's been more private financing ...
'rich' people spending their OWN money - but
still suffering from Gold Fever. There will be
fewer 'rich' after this ... and no that's NOT
a great thing no matter what the sons of Marx
might tell you.
However, the crash WILL still have significant
impacts. Lots of money will go down the toilet.
That's money you will NOT be able to tax, will
NOT be of use in socialist programs.
The big QUESTION is how/can these real-estate
bubbles be countered.
It would take SERIOUSLY rude govt rules to deal
with this - probably cause a secondary crash.
Maybe the only kinder/gentler rule would be
that lenders cannot finance property deals that
exceed, say, 25% over the 5-year purchase price
history. It's an "anti-flipper" approach. If
you bought the land 25 years ago, not much
impact. Mandating resale 'delays' might also
have a useful effect on the addled flippers.
In the end, the consumers badly NEED to wise up.
Alas Gold Fever tends to neutralize intelligence.
"Gonna get RICH ! Gonna get RICH ! Gonna get RICH !" -
it's a mind virus.
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