Frightening video of US housing market

[Goodstuff]

I hate to be a wet blanket, but look at the houses for sale at 0:47 of this video.



http://finance.yahoo.com/blogs/daily-ticker/20-drop-housing-cause-recession-2012-says-gary-161445494.html

 

[housingrental]

What is more frightening is looking into future scenario's of Ontario real estate

 

[wgraham]

Adam the sky is not blue in your world is it. I expect that you have liquidated all of your RE assets

 

[Thomas Beyer]

I find the over 2000 comments below the video quite insightful. Many, many depressed folks in the US. And no hope in sight if one follows the debate over the US debt ceiling. It is clear to me that only drastic measures will help the US such as elimination of mortgage deductibility, VAT on goods, import duties, higher taxes for the above average income earners and reduction in spending such as the military will reduce the massive US problem. Likely an inflationary cycle with German Weimar republic like super inflation may be the answer too. Investing in the US, in Canadian dollars is VERY very high risk these days, as you may get back more US dollars, then pay 40% or so taxes, and then convert back into the Swiss like Canadian $, and likely lose a ton even if the property has doubled in US dollars.

 

[housingrental]

I've sold 3 places (3rd sale closes in August)

I have 4th listed on MLS last week

Wish me luck!



The tough part is deciding how many to sell......



[quote user=wgraham]Adam the sky is not blue in your world is it. I expect that you have liquidated all of your RE assets

 

[housingrental]

Good point Thomas on currency risk



I think eliminating mortgage interest deducting - anytime soon at least - probably wouldn't go over too well in USA



[quote user=ThomasBeyer]I find the over 2000 comments below the video quite insightful. Many, many depressed folks in the US. And no hope in sight if one follows the debate over the US debt ceiling. It is clear to me that only drastic measures will help the US such as elimination of mortgage deductibility, VAT on goods, import duties, higher taxes for the above average income earners and reduction in spending such as the military will reduce the massive US problem. Likely an inflationary cycle with German Weimar republic like super inflation may be the answer too. Investing in the US, in Canadian dollars is VERY very high risk these days, as you may get back more US dollars, then pay 40% or so taxes, and then convert back into the Swiss like Canadian $, and likely lose a ton even if the property has doubled in US dollars.

 

[Rickson9]

I love it! I love fear in the markets!
What little wealth that I have wouldn't have been possible without fear and panic.



As investors we can only hope that the same opportunities in the U.S. eventually come to Canada!



Thanks for sharing!