163
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
163 points (96.0% liked)
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I’m ready for it to pop and the consequences thereof. I know I will have to shoulder some of the burden. Too bad that businesses love to privatize gains and nationalize risks, but that’s the mess we’re in.
To copy another of my comments, I don’t buy this “but the economy” line. It smacks of “too big to fail”, and I think that occasional failure is necessary and healthy.
We're not talking a dip in the stock market.
We're taking millions of jobs just disappearing, people's savings gone, most banks going bankrupt...
I know it's hard to imagine, but the housing bubble can't burst in a vacuum and in our country it's taking everything with it and could mean decades to come back to some form of normalcy.
Heck, you would probably not get to enjoy the potential drop in price because you would have had to move to another country to find a job, just like the Quebecois had to do at the beginning of last century.