Friday Free-for-all! December 2nd 2016

It’s the end of another work week, are you ready for the weekend?

It’s also time for another Friday Free-for-all, our regular end of the week news round up and open topic discussion thread, here are a few recent links to kick off the chat:

David Dodge calls for higher rates
Things probably pretty bad
A ‘disorderly’ correction for Vancouver & Toronto
CIBC exposure to real estate correction
Co-housing lite
Data: 2008-2015
BCREA: prices and sales to drop in 2017

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

Get a job.

Some people wonder how people make ends meet in a very expensive city with very low wages, but there’s plenty of economic opportunity beyond grow-ops, you just need take advantage of one our exceptional local specialties.

Of course you could go to the source of the money fountain and flip condos or become a realtor, but if you don’t have the time for a 6 week course here’s another opportunity: Condo Lineups.

If you can be the manikin who pretends to be very excited about a new local development you can earn $1800 in less than a week, that works out to about $15 an hour less expenses!

This tiny job posting speaks volumes about the Vancouver real estate market. Developers have convinced speculators that demand is so high, there’s enough room for the average person to make an extra few dollars flipping condos to regular folks. Now that regular folks aren’t fighting to buy pre-construction, this may be the first sign that speculative capital is drying up.

Read the full article over at better dwelling.com

Poloz: wait and see on interest rates

The Canadian economic outlook is ‘uncertain’ and that sets a high bar for interest rate changes according to Bank of Canada Governor Poloz:

“The situation hasn’t changed much, as far as I can see,” Mr. Poloz said in the Q&A session following a speech in Toronto Monday evening.

He said the wide range of uncertainties that the bank outlined in its October rate decision, when it said it had considered a rate cut but opted to hold the line until more clarity had emerged on such issues as the U.S. election, the pace of Canadian trade, the evolution of the housing market and the impact of Canadian infrastructure spending “is still present. It’s only been a few weeks.”

Read the full article over at the Globe and Mail.

Friday Free-for-all! Black Friday

It’s that time of the week again, Friday free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend.

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

Canadians will need 20% more income
BOC rate cut?
Road pricing
Ill equipped to deal with rising costs
Requalification?

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

City proposes 3.4% property tax increase

You can probably handle paying an extra $49 bucks, but George Affleck points out that over the past 10 years the city budget has grown 30% while population has grown 9%.

The $1.32-billion draft 2017 budget was released late Wednesday afternoon. It includes a 3.4 per cent property tax increase and other increases for utility, recreation and permit fees.

The city says the increases will go towards greater costs for existing services that are in line with inflation and new expenditures in other areas like social housing, security and the arts.

According to the city, the property and utility fee increases will amount to an extra $49 in costs for a median homeowner in Vancouver.

Read the full article over at the CBC.