CITIZEN_2015

If that is the case (and I doubt that is the case) after all revelations and his sexist racist arrogant remarks what does that would tell about Americans??

Trump is a trash based on his racist sexist speeches and ideas and American people today are going to put him where he belongs that is the trash bag of the history.

I give them that advice anyway, Besides some Americans especially those living in border areas or visiting Canada may care and influence their votes as what their largest neighbor and biggest trade partner think about their president as latest poll shows a big majority of Canadians don't like Trump will for sure sway a few votes down there.

Well understand this. Some Canadians (like ,myself) may have families down in US as citizens who can vote and can influence the results,

Trump lost my support when rumors/revelations about him assaulting women started circulating. Anyone with no respect for women is a piece of trash in my eyes.

Those who wish to retain their way of living stay where they are and live their way. Don't come here trying to change us or demanding others who are born here or have run away from backward cultures to change.

I didn't say violent crimes. I said violent cultures.

My point was violent cultures.

I have changed my views on immigration. Canada already suffers from unemployment and rising housing prices in certain regions. Have you taken a ride in major and even smaller Canadian cities, It is bumper to bumper and crowded with traffic jam everywhere. Not to mention that Canada will lose its cultural identity being swamped by people of different cultures especially certain cultures who believe in inequality of women and violence. The current level should be reduced and selection made and focused on skilled workers, As Argus said somewhere Immigration is to benefit Canada not Canada to benefit immigrants. So elected officials should react to what Canadian want (lower immigration quota and selectivity) and not decide on their own to increase the current high level further.

A summary of consequences of these rules which we should have had them only for the ywo regions of the country at the local level not Federal level for the reasons described before. http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/do-ottawas-new-mortgage-rules-go-a-step-too-far/article32250068/ http://business.financialpost.com/personal-finance/mortgages-real-estate/realtors-say-millennials-are-the-real-losers-from-new-mortgage-rules

Yes immigrants should do more to fit. They have chosen on their own free will to come here and they have to change and fit. It is not the other way round to try to change us and yes if they don't like what they see and the way we live then they can go back where they come from. I think Argus had a good point on saying that immigration is intended to benefit canada and selection should be based on that criteria. It is not intended as a charity. That said I am still against regional selection but as time passes by and I see and hear things I may soon cross that border too.

I used future tense and yes many bodies will when the economy dives into recession as a result of consumer spending eroding badly by those losing substantial equity on their investments.

Would some of you ladies and gentlemen who oppose my posts just please take a moment and read what I have posted before commenting. I am not saying no actions were necessary because indeed Vancouver and Toronto/GTA had serious problems with skyrocketing housing prices so yes actions were necessary but what I am saying is that the issue was local and local governments should have taken action to cool down markets NOT at the federal level was a clear mistake because housing is already very slow in many municipalities even before these tough measures and it is now going to nose dive in Ottawa, Montreal,, Calgary, Edmonton, Saskatoon, Regina, Winnipeg and all small municipalities. That is 70% of the country will suffer now thanks to Feds and their miscalculated actions. To you since you live in BC or southern Ontario then those two regions are the entire Canada? Well not so. Many other regions have already slow market or had a balanced market and they will collapse now.

As I said some people don't understand basic economics and the role consumer confidence plays and how it affects every aspect of economy as related to growth and employment and the danger of deflation and consequences of downturn in housing market.

The only thing ridiculous is your statement. Do you have the ability to read or understand. Nowhere in my post I even remotely indicated that I want to spend the equity in my house but rather stated that consumer confidence will drop as they lose their equity so they reduce or stop spending on other items such as cars, clothing, food, travelling and I used myself as example. Read and try to understand (i know too much to ask from you) and then comment or respond. Some people don't understand basic economics and throw accusations like saying "Some people just like to be rich on paper" or like "they want to close the door behind them for anyone else who didn't get that chance". If I can sell my property at 200 thousand higher than what I purchase 5 years ago that is real wealth not paper wealth and it is harsh rules disqualifying most people from mortgage loans that closes the door for other people left behind in the housing. People losing property value lose confidence in the economy and low consumer confidence always triggers slow economic growth if not a recession.

No you know I meant over a year or so. Are you saying that in a market that some 90% of potential buyers were just kicked out of the market then prices would stay the same????? Really?

That is exactly what the Feds just engineered.

As I see my equity drops by 20 to 30% I stop traveling (the hospitality industry will suffer). I cut down on clothing and food (the textile and food industries will suffer). Keep my old car (the auto industry will suffer).I pay much less GST and PST (the federal and provincial budgets will suffer). Now "I" was an example of an average Citizen. There is also no brainier to calculate what level of income is needed to qualify for a $350,000 to #400,000 mortgage to buy an average house outside the heated region even.

It is basic economics no crystal ball needed to see two plus two is a four.

Interest rates will stay historic lows until at least 2019 but though many people can afford to buy houses but no one can qualify for mortgage regardless of how low mortgages are or will be. You have to have an income of $100,000 to $120,000 to qualify for an average modest home in 70% of Canada and an income of over $250,000 to buy an average house in heated areas. In other words only a few percentage of near millionaires would stay in real estate market and still buy and it will be out of reach for overwhelming majority of general population who can afford buying but won't qualify with these tough measures. The important thing is that the Feds ENGINEERED A HOUSING CRASH by their overreaction. They created exactly what they were trying to prevent and were afraid might happen and that is devaluation of houses by 30 to 50% and a resulting recession.

There will be severe economic consequences in 6 months to a year from now. Not only they destroyed the housing market as nobody can qualify to buy houses now or very few do but they also shut down the Canadian economy.

Even to those who believe the Feds had a place to intervene when it was a local issue then I would say that they took too many actions all at one time. They should have taken one action at a time, monitor the situation and then bring another if the first action was not effective enough and so on. They brought in several very tough measures all together in one day and this will cause crash of housing market in Canada (the only bright spot in Canadian economy) and loss of equity for millions of people and loss of consumer confidence and a recession and jobs loses and budget deficits and cut backs at all levels of governments as well as private sectors. Do they have economists in the Finance department??. I guess not.

I admitted that it was overheated in a few locations and people couldn't afford to buy in a few cities but in many cities yes many could afford to buy houses and were doing so and prices were going up very modestly and even started to come down a bit. But now it will crash like a plane being shot down and the Feds did this by they miscalculated action.

As I said the overheated housing market was a local issue limited only to a few cities and NOT across the country or country-wide and less than 20% of population were affected. It should have been addressed by local governments the way that BC acted for Vancouver last August. A similar tax for Toronto would have slowed down those markets. The Feds overreacted significantly and miscalculated by large and now we all will pay a very high price for that. We are all screwed thanks to Feds overreaction.

They may not have realized it (and I see that some people here haven't either) but with their actions they shut down the entire economy. Once people lose their equity they lose confidence and stop spending and consumer confidence has been the only thing driving the Canadian economy past many years and then once people with lost equity stop spending there will be a recession and loss of many jobs and larger budget deficits forcing cuts and more job loses. All results of over-reaction by the Feds to so called over-heated housing market which in fact was slow not overheated for 80% of the country, The Feds should have looked beyond Toronto and Vancouver and as I said this was a local issue and should have been addressed by local governments, Federal government had no place in this. The housing market is likely the only market that when it comes down everybody will lose even those who don't have houses.