Comments on: Friday Free For All! http://vancouvercondo.info/2008/04/friday-free-for-all-16.html?utm_source=rss&utm_medium=rss&utm_campaign=friday-free-for-all-16 Bubble? What Bubble? Thu, 24 May 2012 07:16:34 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Michael Randallbard http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15686 Michael Randallbard Tue, 15 Apr 2008 19:07:11 +0000 http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15686 <a href="http://www.safehaven.com/article-9983.htm" rel="nofollow">"If you're not buying gold then you're probably mental, "Because gold is not only your best friend, but it is the One Sure Thing (OST) that is going to protect your sorry, stupid, trusting, gullible, nasty butt against the inflationary parasite monsters that will soon be inflicted upon you, one way or the other, by a desperate Federal Reserve and a desperate government, and your bodily fluids will be sucked out through your money until you are a drained, lifeless, bankrupted husk, and you will die an ugly, painful death with the sound of the Mogambo's laughter ringing in your ears, going 'Hahaha! I told you to buy gold, silver and oil, but did you? No! And now you are broke because your stupid, precious American dollars are so debased that they don't even buy (in the original Latin) 'el squato' anymore, and you thus you see first-hand how Darwinian evolution kills off the stupid and unfit, which, in this case, is you, you moron!"</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-15686">0</span> <small>(to vote for this comment, please visit the site)</small></p> "If you're not buying gold then you're probably mental,

"Because gold is not only your best friend, but it is the One Sure Thing (OST) that is going to protect your sorry, stupid, trusting, gullible, nasty butt against the inflationary parasite monsters that will soon be inflicted upon you, one way or the other, by a desperate Federal Reserve and a desperate government, and your bodily fluids will be sucked out through your money until you are a drained, lifeless, bankrupted husk, and you will die an ugly, painful death with the sound of the Mogambo's laughter ringing in your ears, going 'Hahaha! I told you to buy gold, silver and oil, but did you? No! And now you are broke because your stupid, precious American dollars are so debased that they don't even buy (in the original Latin) 'el squato' anymore, and you thus you see first-hand how Darwinian evolution kills off the stupid and unfit, which, in this case, is you, you moron!"

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]]> By: jesse http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15580 jesse Mon, 14 Apr 2008 16:12:01 +0000 http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15580 -A-, thanks for the link (this is the <a href="http://www.greaterfool.ca/2008/04/14/no-money-no-problem/" rel="nofollow">permalink</a>). Garth touches the "subprime" issue around high LTV loans, RRSP withdrawals and, most importantly, how nobody in the lending chain seemingly has an incentive to seriously check the future risks. He misses the other 900 pound gorilla: stated income. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-15580">0</span> <small>(to vote for this comment, please visit the site)</small></p> -A-, thanks for the link (this is the permalink). Garth touches the "subprime" issue around high LTV loans, RRSP withdrawals and, most importantly, how nobody in the lending chain seemingly has an incentive to seriously check the future risks.

He misses the other 900 pound gorilla: stated income.

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]]> By: -A- http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15577 -A- Mon, 14 Apr 2008 15:19:58 +0000 http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15577 No money, No problem: Because we don't have sub-prime: <a href="http://www.greaterfool.ca/" rel="nofollow">http://www.greaterfool.ca/</a> "The sale is recorded by the local real estate board, showing other buyers the market is vibrant, even though prices are at historic levels and affordability levels have plunged. Reporters write stories about robust housing statistics, and bank-employed economists cite sales and prices as evidence the market fundamentals are solid. I mean, what’s the problem? It could never happen here." <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-15577">0</span> <small>(to vote for this comment, please visit the site)</small></p> No money, No problem:

Because we don't have sub-prime:

http://www.greaterfool.ca/

"The sale is recorded by the local real estate board, showing other buyers the market is vibrant, even though prices are at historic levels and affordability levels have plunged. Reporters write stories about robust housing statistics, and bank-employed economists cite sales and prices as evidence the market fundamentals are solid.

I mean, what’s the problem?

It could never happen here."

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]]> By: jesse http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15576 jesse Mon, 14 Apr 2008 14:48:08 +0000 http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15576 CBC has article on <a href="http://www.cbc.ca/money/story/2008/04/14/boc.html" rel="nofollow">tighter credit conditions</a> in Canada. And don't go inferring what this will mean for mortgages. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-15576">0</span> <small>(to vote for this comment, please visit the site)</small></p> CBC has article on tighter credit conditions in Canada. And don't go inferring what this will mean for mortgages.

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]]> By: pricedoutfornow http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15575 pricedoutfornow Mon, 14 Apr 2008 14:14:27 +0000 http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15575 read on-I agree! I rent in a townhouse complex in East Van where there are a couple units for sale around the high 300s. No surprise, they're just sitting there, not selling. Meanwhile I'm saving more than $1000 a month to rent and not buy one of those units. Even with a 40 year mortgage and $50k down I'd be paying twice what I pay now. We have definitely reached the limit on affordability in this city. Game's over. I pity those landlords who bought recently and thought they could make a profit renting. Just check out craigslist for recently completed buildings and you'll see what I mean. $1400/month for a condo in Whalley? It's so funny...and yet....it's not. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-15575">0</span> <small>(to vote for this comment, please visit the site)</small></p> read on-I agree! I rent in a townhouse complex in East Van where there are a couple units for sale around the high 300s. No surprise, they're just sitting there, not selling. Meanwhile I'm saving more than $1000 a month to rent and not buy one of those units. Even with a 40 year mortgage and $50k down I'd be paying twice what I pay now. We have definitely reached the limit on affordability in this city. Game's over.

I pity those landlords who bought recently and thought they could make a profit renting. Just check out craigslist for recently completed buildings and you'll see what I mean. $1400/month for a condo in Whalley? It's so funny…and yet….it's not.

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]]> By: newguy vancouver http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15574 newguy vancouver Mon, 14 Apr 2008 12:52:06 +0000 http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15574 Great links! The funniest has got to be the article that lists why Vancouver real estate will not decline. The best one -- we have potable drinking water!!! Is this guy for real? I mean, come on!!! <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-15574">0</span> <small>(to vote for this comment, please visit the site)</small></p> Great links! The funniest has got to be the article that lists why Vancouver real estate will not decline. The best one — we have potable drinking water!!! Is this guy for real? I mean, come on!!!

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]]> By: read on http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15573 read on Mon, 14 Apr 2008 12:10:21 +0000 http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15573 pay 1400 for a 700k 2-bed town house in Van West.... allows me to save 3 to 4 a month.... the P/E ratio is so silly in this town. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-15573">0</span> <small>(to vote for this comment, please visit the site)</small></p> pay 1400 for a 700k 2-bed town house in Van West….

allows me to save 3 to 4 a month….

the P/E ratio is so silly in this town.

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]]> By: Anonymous http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15572 Anonymous Mon, 14 Apr 2008 12:06:44 +0000 http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15572 Did you guys get a chance to see this Ozzie video? He is very fair and rather bearish. <a href="http://www.realestatetalks.com/viewtopic.php?f=8&t=29535" rel="nofollow">http://www.realestatetalks.com/viewtopic.php?f=8&...</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-15572">0</span> <small>(to vote for this comment, please visit the site)</small></p> Did you guys get a chance to see this Ozzie video? He is very fair and rather bearish.

http://www.realestatetalks.com/viewtopic.php?f=8&amp;…

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]]> By: Anonymous http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15571 Anonymous Mon, 14 Apr 2008 11:14:56 +0000 http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15571 "Robin, I pay just over $1100 for 700 sq. feet and parking in the West End. On a $400,000 mortgage, $1100 wouldn’t even cover the interest payments for the first 12 years or so. Add in strata and other expenses and I would be losing big time." But you can tell your friends you own a piece of the "greatest place on earth" <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-15571">0</span> <small>(to vote for this comment, please visit the site)</small></p> "Robin, I pay just over $1100 for 700 sq. feet and parking in the West End. On a $400,000 mortgage, $1100 wouldn’t even cover the interest payments for the first 12 years or so. Add in strata and other expenses and I would be losing big time."

But you can tell your friends you own a piece of the "greatest place on earth"

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]]> By: RJB http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15570 RJB Mon, 14 Apr 2008 10:46:30 +0000 http://vancouvercondo.info/2008/04/friday-free-for-all-16.html#comment-15570 "I live in Kits and a condo nearby that would rent for about $1,000/mo is selling for $399,000. Hmm… let’s see… that’s about $2,500/mo mortgage payments, plus $300 condo fees, property tax and maintinance. I’ll hold off for now, thanks." Robin, I pay just over $1100 for 700 sq. feet and parking in the West End. On a $400,000 mortgage, $1100 wouldn't even cover the interest payments for the first 12 years or so. Add in strata and other expenses and I would be losing big time. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-15570">0</span> <small>(to vote for this comment, please visit the site)</small></p> "I live in Kits and a condo nearby that would rent for about $1,000/mo is selling for $399,000. Hmm… let’s see… that’s about $2,500/mo mortgage payments, plus $300 condo fees, property tax and maintinance.

I’ll hold off for now, thanks."

Robin, I pay just over $1100 for 700 sq. feet and parking in the West End. On a $400,000 mortgage, $1100 wouldn't even cover the interest payments for the first 12 years or so. Add in strata and other expenses and I would be losing big time.

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