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Canada likely sitting on the largest housing bubble of all time: Strategist - BNN Bloomberg
(www.bnnbloomberg.ca)
this post was submitted on 23 Aug 2023
171 points (95.2% liked)
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Even though I had to pay though the nose to buy a house years ago, I hope for a crash so that people are not screwed forever more.
What I find really odd is the commercial market in smaller towns, its cheap as shit.
Crashes only hurt regular people. People who have money/capital can wait it out and then buy even more housing to make the bubble bigger next cycle.
source: lived through 2008 and that fucking sucked
Yeah well high prices only hurt regular people, too!! It's almost like we're getting fucking squeezed by our economic masters, eh?
Same and I don't think a housing crash would hurt just the poor like say a 2008 style crash (it would still hurt the poor because everything does). I also don't think there is any other option other then a crash, things are too out of hand bubble wise. It would be cool if someone in power could get crazy serious about the issue but there is no will and it is likely to late.
Because there's zero opportunity in small towns. Another major issue with Canada right now
I am doing well in small towns mostly due to the impression that there is no opportunity. Starting a small business in a major city is nigh impossible without a lot of money, but small towns don't. The issue I see most often is people opening places in small towns without any business plan or market research, leading to failure. I think some of that will change when more business realizes that they can save money by going to a smaller town.
My dad ran a business in a small town his whole life and said it's not a good idea anymore. Been a struggle for him for the last like 20 uears. Always told me to never be a business owner so I'll follow that advice
My parents said the same thing, my biggest regret in life was listening to them.
The downtown strip of the town I grew up in (about 2hrs from Toronto) is a ghost town. I doubt retailers want to risk starting a lease on a commercial property when in many situations, brick&mortar isn't much of an asset.
That is the crazy part I am talking full on buying not renting. I run a few stores in more rural areas and my company just bought the building because the owner would not rent/lease to us but would sell it for less then you could buy a shed for.
I guess it is crazy you could buy a storefront in a small town for much less then a house in a small town (maybe a protip?).