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Old 03-05-2015, 09:31 AM   #42
polak
In the Sin Bin
 
Join Date: Aug 2012
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Quote:
Originally Posted by Red View Post
Thanks for saying that. I thought I was alone here.

There is a lot of belief that this "oil thing" will pass in a few weeks and no damage will be done. Just like the 08 crash that saw us drop house values by almost 20% that we just recovered last summer. That blip took 5 years to recover from. And that really was just a blip that was quickly fixed by government programs etc.

How do we fix these oil prices? How long before they bounce back to above $80? How long after will the Suncors start hiring back? How long after that will these people actually qualify for a mortgage again?

We could easily be in 2017-2018 by then. What mortgage rates will we have in 2018? Will we keep these emergency rates forever?
There is no guarantee that they "bounce" back to $80 any time soon. Unless you work for the CREB. They seem be very confident that oil prices will be back to sky high levels by spring, remember?

While there is still an ocean of full oil tankers sitting idle... in March.

Last edited by polak; 03-05-2015 at 09:38 AM.
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