Toronto Condo Seller – “I honestly never saw this coming. Never. It is very stressful. Sometimes, I am not sleeping well.”
“I honestly never saw this coming. Never. Because the boom has been now for a while, like 4 or 5 years?” [Announcer: “Maria has been trying to sell her (Toronto) loft near Square One for three months.”] “It is very stressful. Sometimes, I am not sleeping well.”
– Maria Alvarez, CityTV, 6 Nov 2012 [hat-tip to VMD at VCI]
The downside of speculation. – vreaa
I don’t get any “weird pleasure” out of posting these sorts of things…in the sense of rubbing it in ” nah nah nah hahahaha…. I told you so “.
I know some people do…I read it frequently on blogs.
I realize we can’t be our Brothers/Sisters keeper, and that people should take personal responsibility, but that does not stop the toll this Housing Bubble Collapse will negatively affect thousands of people.
These are our fellow human beings, and the majority of us are, Thank God.. NOT Psychopaths ie those who are likely not only the very parties who had greased the wheels for this to happen, but are profiting from such human misery.
Many parties argue this point, but IMHO Gov’t does have a role in all this…as a regulator and an intervenor when things go out of whack. This is why ex MP Garth Turner quit politcs…..he knew this was coming, not IF but WHEN and started his Greater Fool Blog.
The Gov’t was co-opted by various interests to allow CMHC to cover the bets as an insurer..and allow loose lending practices,and concurrently punishing those who were prudent savers. I still recall in the late 1970’s /early 1980’s the heated RE market, and the Gov’t drove interest rates higher to 20 + % as a means to avert disaster, though many did get caught .
However, here 30 years later..very little such intervention. Why not?….which to me can be interpreted as the collapse and all the collateral effects were planned
These parties create a ripple effect..many have spouses, children, extended family and friends who are inevitably seeing and also feeling the distress this is causing . Ultimately, the ripple effect will affect us all, which shows how we are all connected . However, this may also have us come together as a potent and united force.
Time will tell…if time does not run our first. Regardless..Keep the Faith.