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Old 07-20-2012, 09:03 AM
 
Location: Toronto, Ottawa Valley & Dunedin FL
1,409 posts, read 2,354,415 times
Reputation: 1159

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Quote:
Originally Posted by darstar View Post
There is also a new reallity for a lot of people. S... Myself I have become numb to so much these last ten years, I do not care anymore. We all have lost something , it should not be as bad as it's become for so many across this Republic.
You make me very thankful that I'm Canadian. Yes, many of those of us close to retirement in 2008/2009 lost significant portions of our retirement portfolios during the crash. But the real estate market here has been mostly very stable, with no significant losses in equity or the ability to sell (this because of our very conservative rules about mortgages.) For us, there still may be a real estate downturn coming. Experts say it will be a moderate one, affecting only the large cities with somewhat overpriced properties (so the resale value of our city condo may subside somewhat, but it will remain desirable.)

I really do feel for you guys, what a terrible situation to be in. There but by the grace of {luck, good governance, a deity, fate} go I, and the rest of retiring and retired Canadians.
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Old 07-20-2012, 09:40 AM
 
Location: State of Superior
8,628 posts, read 13,888,154 times
Reputation: 2770
Quote:
Originally Posted by Wwanderer View Post
You make me very thankful that I'm Canadian. Yes, many of those of us close to retirement in 2008/2009 lost significant portions of our retirement portfolios during the crash. But the real estate market here has been mostly very stable, with no significant losses in equity or the ability to sell (this because of our very conservative rules about mortgages.) For us, there still may be a real estate downturn coming. Experts say it will be a moderate one, affecting only the large cities with somewhat overpriced properties (so the resale value of our city condo may subside somewhat, but it will remain desirable.)

I really do feel for you guys, what a terrible situation to be in. There but by the grace of {luck, good governance, a deity, fate} go I, and the rest of retiring and retired Canadians.
Very good post from across the Border. Yes you folks have come out on top this time, and for sure big time! Its not always been that way, many of us remember. I know I do, 1959, and your fight for single payer health care, you did it you made it work, regardless of what the right wing in both Countries seem to think. Now you have another plus to add, Canadians have passed up the US family's net worth for the first time in history.( I think )? )
There are a few places in the US where the housing bubble did not explode or implode as it were, fortunately for me I live in Marquette, Mi...no changes here, if anything, prices are going up in the higher end range of houses, and apt. rents ( if you can find one ) have doubled in some cases ! Our population growth helped some , we have about a 10 per cent rise since the last census.
The large cities in both Countries have remained stable, and or are growing daily for prime spots in a downtown setting. Little change there in both Countries, there is only so much land to go around in any case. We are experiencing a boom in farm land prices, the top has blown off productive land, its almost like a gold rush of the 1800s ! I am not sure how you are fairing in that area however. Congrads for your persistence and foresight over the years, you are now reaping the benefits, nationwide, opposed to us down here where housing growth is still very spotty around the country. We are not out of the woods yet, but progress is showing One can only hope the drouth and extreme heat that has devastated both soy beans and corn will not put us all in to another tailspin on a race to the bottom. Safeguards are still not in place, as you folks have, and that scares me a little as the rich get richer and our middle class is disappearing more and more every day...
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