I knew something was up. In the mature inner suburb of Toronto where I have lived for the past 20 years, there are mostly post WW2 single family, modest but desirable detached homes on generous lots with trees and quiet streets, close to public transit, schools, daycare, shopping, government services, parks, community center, library etc. The Canadian Dream existed for real here, especially for immigrants, since 1955. This area was affordable and stable in terms of real estate development, for decades. So there was a flurry of excitement from 2019-2022 as real estate values skyrocketed and older bungalows were snapped up to be replaced by luxurious monster homes. Except that as early as 2022, some of these projects began to stall, and then work stopped altogether. On almost every street around me there are now unfinished monster homes and derelict properties. No investors, no buyers despite attractive deals and lower mortgage rates. Bungalows that sold for a million within days in 2019 are now sitting on the market for months at $750,000. These are not good signs.
Reminds one of initial levitation of MBS and CDO prices as the economy started to fall apart in 2008, except more extreme this time (extend and pretend). Economic reality caught up then and will now of course. With stress building in financial institution repo markets reality may strike soon.
Companies get fat and greedy and bloated. Do we need more fast food places? Hardly. The same will happen with silly A/i as everyone jumps on the bandwagon and eventually tips it over. Can't happen soon enough. Just wait until the depopulation agenda really gets rolling. Then it's lights out for good.
Probably the best thing is chaos. If things are going wrong all over the place then the Am. people will understand. They know we have problems. Real ones. Something’s wrong, but we never feel it. This guy Tump killing at random and hosting the Saudi prince, another killer. They are all killers.
I knew something was up. In the mature inner suburb of Toronto where I have lived for the past 20 years, there are mostly post WW2 single family, modest but desirable detached homes on generous lots with trees and quiet streets, close to public transit, schools, daycare, shopping, government services, parks, community center, library etc. The Canadian Dream existed for real here, especially for immigrants, since 1955. This area was affordable and stable in terms of real estate development, for decades. So there was a flurry of excitement from 2019-2022 as real estate values skyrocketed and older bungalows were snapped up to be replaced by luxurious monster homes. Except that as early as 2022, some of these projects began to stall, and then work stopped altogether. On almost every street around me there are now unfinished monster homes and derelict properties. No investors, no buyers despite attractive deals and lower mortgage rates. Bungalows that sold for a million within days in 2019 are now sitting on the market for months at $750,000. These are not good signs.
Reminds one of initial levitation of MBS and CDO prices as the economy started to fall apart in 2008, except more extreme this time (extend and pretend). Economic reality caught up then and will now of course. With stress building in financial institution repo markets reality may strike soon.
Companies get fat and greedy and bloated. Do we need more fast food places? Hardly. The same will happen with silly A/i as everyone jumps on the bandwagon and eventually tips it over. Can't happen soon enough. Just wait until the depopulation agenda really gets rolling. Then it's lights out for good.
Probably the best thing is chaos. If things are going wrong all over the place then the Am. people will understand. They know we have problems. Real ones. Something’s wrong, but we never feel it. This guy Tump killing at random and hosting the Saudi prince, another killer. They are all killers.