Philadelphia Church of God Trumpets: “Falling house prices is an idea that many Canadians laugh at. Americans laughed too before America’s bubble burst.”

“You have to empathize with people in Canada who want to buy a house. In boom cities like Regina, Saskatoon, Vancouver, Calgary and Toronto house prices have inflated virtually non-stop for more than a decade.
Income growth though — what income growth?” …
“Canadians rarely seem to consider the fact that their biggest investment might (read: will probably) go down in value.
Falling house prices is an idea that many Canadians laugh at. Americans laughed too before America’s bubble burst. Now, many Americans are locked into paying mortgages on houses that are becoming worth less and less each year.” …
“In Vancouver, so many people are buying houses, second houses and investment houses, that the ratio of home prices to incomes is the highest in the English-speaking world, according to consultancy firm Demographia. The survey labeled it the second-least affordable city in the world! An average house there costs over 10.6 times the average pre-tax income. For further bubble evidence, check out this $1.2 million dump.” …
“Last month, Merrill Lynch called Canada’s housing market overvalued, oversupplied and driven by speculation.” …
“Canada’s bubble is getting close to bursting, and when it does, expect a massive economic implosion. Unemployment will soar, banks will fail or ask for bailouts, and the dollar will plunge in value. Millions of Canadians will be left paying a fixed mortgage on a rapidly depreciating asset that will destroy their financial lives.
Five years following the popping of America’s housing bubble, Canadians may be about to wish they had learned a lesson. Get your ear plugs ready.”
– from ‘Canada’s Housing Bubble Is Stretched to the Limit’, The Trumpet, 7 Feb 2012
From the website:
“The Trumpet magazine is published 10 times a year by the Philadelphia Church of God.
The Trumpet uses a single overarching criterion that sets it apart from other news sources and keeps it focused like a laser beam on what truly is important. That criterion is prophetic significance. The Trumpet seeks to show how current events are fulfilling the biblically prophesied description of the prevailing state of affairs just before the Second Coming of Jesus Christ.
The Trumpet has a long history of accurate forecasting of major global events based on this predictive model, tracing back to the beginnings of the Plain Truth magazine in 1934 under the direction of Herbert W. Armstrong. To explore these forecasts, read our booklet, called “He Was Right!—Remembering five decades of accurate forecasting by Herbert W. Armstrong.”

“Laugh now, but you’ll learn your lesson!”
We always knew Vancouver’s RE implosion was going to look like Armageddon, just not literally.
(BTW, as far as we know this is a first: religious prophecy meets our speculative mania.)
– vreaa

10 responses to “Philadelphia Church of God Trumpets: “Falling house prices is an idea that many Canadians laugh at. Americans laughed too before America’s bubble burst.”

  1. Renters Revenge

    “Get your ear plugs ready”. That’s actually pretty funny, ’cause it’s going to be true. We are about to become quite the whiny lot me thinks.
    Nice find VREAA.

  2. I always say the devil’s in the details.

  3. Ha ha, I honestly didn’t copy you, VREAA. That article popped up on the top on google news today. But even the about us…. AH. Too funny.

  4. Great article.

    • the noise really bothers me alot in this area we are living, Renfrew Height area. a neighbourhood owner who lives at 3249e23rd avenue vancouver bc canada puts the silver baking plate at the back of the house. or at the balcony. as we see it, the plate is hanged near a metal pole. when the plate blows by the wind. the plate would hit the metal pole. it would create noises at all. we notice that the plate is hanged for 24hours: morning, afternoon, night, mid night early morning. we don’t know what is the purpose of that plate for but we are surely that the plate creates noises for this neighbourhood. people in this neighbourhood attempt to reach her. however, the owner refuse to discuss anyone of us here. we don’t know what to do . We need a help from God that we wish God could remove the plate for us. thank you

  5. “And piling into real estate Canadians are. Offering interest rates yielding only fractions of a percent, the Bank of Canada is practically driving people into real estate.”


  6. neighbourhood

    just want people to know that noise problem occurs in our area. yes a noise problem that haven’t been solved for years
    3249 e23rd ave vancouver bc v5r1b6 canada, we are living this area called renfrew height. the owner of the 3249 had a plate on the back of the house or the back balcony. the plate is there for 24 hours a day, no one know what is the purpose of that silver plate. however, when wind blows in our area, the plate would hit a post near by, creating tremendous noises that no one can able to sleep/rest with. is there anyone who can help us along? we need the plate removed asap. we would like to get everyone on the internet knows that we had this kind of freaky neighbourhood. please help us, i believe God can help us too. thank you

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