One decade since the US Housing Bubble bust

Wow, time flies when you’re having fun!

Did you know that it was ten years ago that the US financial system had a little stumble due to over exuberance in the housing market?

10 years is a long time, but it’s how long it took at least one guy to sell his house.

That guy figures he lost about 60K over those ten years on a house he paid $137k for.

Fortunately in Vancouver there are no $137k houses so that can’t happen here.

Hey Vancouver! Why so miserable?

You’d think that living in a great city would make you happy, but apparently that’s not true for everyone.  Southseacompany points out this article about why people in Vancouver and Toronto are so unhappy.

Vancouver is now a place you try to survive as much as enjoy. All the problems are well known, the greatest being the high cost of housing. When you, as a young person, have little hope of making a comfortable life in a city that you love, of course it’s going to cause unhappiness. There is a sense that Vancouver is being yanked away from those who love it most, taken over by mercantilists and arrivistes from around the world who care little about a city’s “soul” so long as the skiing’s good and there’s a place that sells beluga caviar. And then there are those sitting on a lottery ticket with the house they bought years ago, waiting to cash out, and those sitting on a mountain of debt, praying interest rates don’t go up. It doesn’t sound like the kind of environment that would engender a cool community vibe, a place where relationships between people can flourish. And that, I think, is what the survey on happiness has tapped into.

Read the full article here.

Friday free-for-all! September 7th, 2018

It’s the end of another week and time for another open topic discussion thread and news roundup thread.

It’s Friday free-for-all time!

Here are a few recent links to kick off the chat:

Big fines for illegal short term rentals

Canada a money laundering playground

CMHC wants to give lenders tax data

Vancouver prices edge down for 2nd month

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!