Friday free for all

It open-topic time, here are a few news stories to kick off the discussion:

– Rennies ‘simple solution‘ for affordability
Greatest gangland on earth
– Home market flooded by sellers
Woodwards redevelopment stumbles on
– Another blow for BC forestry industry
Boom over, no bust predicted
– Home sales falling fast
– Canada, sucker nation
– RBC writedown only $855 Million
– Canadians invade Florida
– 9 foreclosures + bankruptcy = mistake
– Bernankes bubble laboratory

What are you seeing out there? Post your news, links, thoughts and anecdotes here and have a great weekend!

note: any conversation on real estate or economics is allowed, please keep it civilized. when posting articles please only quote pertinent points and link to the original instead of pasting the entire article here. Thanks!

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Anonymous
Anonymous
12 years ago

Thanks Pope for the link to Paul's site. His is great but is that the rawest form it comes in?

betamax
betamax
12 years ago

Why is it that over 90% of the bulls on these forums can’t string a coherent sentence together, and are so illiterate that it’s hard to tell WTF they are talking about?

While not all bulls are stupid, all stupid people are invariably bulls.

bdk
bdk
12 years ago

krissh/anon comments about childcare shows how ignorant he really is, westside daycares can have multi year waiting lists and it's not free.

Whatever he says do the opposite or you could end up like him!

Anonymous
Anonymous
12 years ago

does anyone know where we can get our hands on the raw data such as inventories and sales figures? I want to do a comparison on sales vs rent, inventory vs sales and a few other ones but I am not able to find anything raw..

solipsist
12 years ago

Sell now, or be priced in forever.

Beautiful! You win the quote-of-the-week contest!

me
me
12 years ago

to:anonymous

re: childcare in Canada

just for the record – Canada has one of the worst records re:providing childcare – in the industrialized world

and other countries have found that when they provide free childcare, their overall social expenditures diminish exponentially, because single parents are able to work.

o.k. – back to real estate

richard
richard
12 years ago

"Why is it that over 90% of the bulls on these forums can’t string a coherent sentence together, and are so illiterate that it’s hard to tell WTF they are talking about?"

because 99% of the bulls on this blog are really just the split personalities of satv. All of them prefer to intentionally mangle their english just to twig the bears.

richard
richard
12 years ago

"You seems to be agree with other benefits two points you have single out about rich and free child care." allright. free healthcare? is it really free? my employer pays my msp fees. does that make it free? If it were free, how does big pharma and the health system make money? It looks free, but it's not, is it? "Child benefits,child care for low income earners" – what? low income earners? How could the rich immigrants be low income earners if they make gazillions flipping real estate? Or do you mean they arrive rich and then turn poor after getting here? That sounds like a great way to attract immigrants, don't you think? "Arrive rich, become poor". "return of the amount paid for as child care are all part of child care programme" – again, it shows you have… Read more »

patriotz
patriotz
12 years ago

Wrongheaded editorial in the NYT:

But in many cities today, house-price declines are so severe that potential buyers are staying on the sidelines, fearful of further collapse. The result is declines that are deeper than need be to restore affordability.

Wrong. You haven't restored affordability until buying is cheaper than renting, and the US markets are still not close to that. That's what's needed to get people buying again.

http://www.nytimes.com/2008/05/19/opinion/19mon1….

-A-
-A-
12 years ago

I am desperately trying to find a place to buy, but there are no listings anywhere.

I have tried to make contact with some of the realtors on Rob's site, but every time I post, I get a "your comment is waiting moderation" comment.

Is anybody else in the same situation?

Tonail Dang-Za
Tonail Dang-Za
12 years ago

“THERE IS NO DOWNTURN PLEASE”

Is a message from the bus driver not from any clowns.

patriotz
patriotz
12 years ago

CMHC says prices of existing houses will rise this year by 9.3 per cent in B.C., 3.6 per cent in Alberta…

This is the famous "predicting the past" methodology pioneered by the NAR et al south of the border:

1. If the market increased last year by over 10%, cut the number down a bit for next year so you don't look overoptimistic (BC, Sask, etc.).

2. If the market increased by less than 10%, just predict about the same (Eastern Canada).

2. If the market fell last year, predict a small increase next year, i.e. call the bottom (Alberta).

Tony Danza
Tony Danza
12 years ago

“THERE IS NO DOWNTURN PLEASE”

I love the desperation coming from these clowns. Anyone wonder if Rennie is fully vested in the Vancouver RE market? I mean what happens to his income when there are no new condos to be built for the next 10 years? I'll bet that clown is lying awake nights with a barf bucket beside his bed. After all if the "Donald" couldn't stay whole through the last turn with his Daddy's money how will East Side Bob make it?

Krissh
Krissh
12 years ago

Today open house I had to sell condo before market go down for decade to come many buyer want to save hundred thousands of dollars forget and no come to buy they not glorious studio market multicultural and go up in decades buy my condo it goes up for decades to come childcare is free and income triple

franko
franko
12 years ago

Why is it that over 90% of the bulls on these forums can't string a coherent sentence together, and are so illiterate that it's hard to tell WTF they are talking about?

weatherman
weatherman
12 years ago

I must admit that i was surprised, but i wonder what this says about our world class status? Some food for thought, given many poo poo Vancouver’s status.

Ulsterman, it just mean we have weather. Rain, lots of it, overcast skies, lots of them. They've heard that people are starting to think that Vancouver is a good place to go, and as a public service they are warning people by telling them about the weather.

Anonymous
Anonymous
12 years ago

"free childcare? in vancouver? clearly you do not have kids. or you are a kid". You seems to be agree with other benefits two points you have single out about rich and free child care. "why would the rich immigrants care about welfare? they can just buy and sell leaky condos to make a living". This type of environment is good for investor from all category because the city is definitley carry built in immune system from the jerks of nature or human control nature.People can extend their efforts to touch the heights because every body knows there is some one to privide the essential needs of life for them and their families. ""free childcare? in vancouver? clearly you do not have kids. or you are a kid". Child benefits,child care for low income earners,return of the amount paid for… Read more »

Sold2Soon
Sold2Soon
12 years ago

From the "Boom over, no bust predicted" link. So, is this what the end of a real estate boom looks like?

CMHC says prices of existing houses will rise this year by 9.3 per cent in B.C., 3.6 per cent in Alberta, 26.1 per cent in Saskatchewan, 13.5 per cent in Manitoba, 3.5 per cent in Ontario, 4.7 per cent in Quebec, four per cent in New Brunswick, five per cent in Nova Scotia, three per cent in Prince Edward Island and 10.5 per cent in Newfoundland and Labrador.

richard
richard
12 years ago

"I don’t think country other than Canada and United Kingdom provide health care,welfare,and childCare plus free education till grade 12."

why would the rich immigrants care about welfare? they can just buy and sell leaky condos to make a living.

free childcare? in vancouver? clearly you do not have kids. or you are a kid.

Anonymous
Anonymous
12 years ago

Read on,

I don't think country other than Canada and United Kingdom provide health care,welfare,and childCare plus free education till grade 12.

For your point towards bali I don't think any bear can go buy there in fear of another blast on threat.

Yeah people can move to any country through their networks that's mean population in most livable cities and world class cities countinue to increase but those cities have nothing to cut from vancouver. so even if we follow your recomendation still there is no risk of downturn in Vancouver,Vancouver will pick it's share year over year.

-A-
-A-
12 years ago

It is absolutely true. All the rich jet set are moving here, specifically in the Dundas and Victoria Drive area, and they are all interested in buying 600sft leaky condos.

And it is also true they prefer a 4o year mortgage to encourage some of their wives to take jobs at Tim Horton’s

Mold City
Mold City
12 years ago

Jun, your argument makes sense if stretched out to an extremely long timeline. I can guarantee that bread will be more expensive in 100 years, but I'm not rushing out to the bakery to stock up and get rich. You don't even have to be that old or experienced to have lived through an economic downturn in Vancouver – housing is a market which like all other markets rises and falls. You can't time the top or bottom of the market, but you can compare housing cost to rental value. Rents are what people are willing and able to pay for housing, its 'actual value' without the distortion of investment manias. One of your key arguments seems to be that there are wealthy people in the world, and this will keep our market from crashing, but why would a multi-millionaire… Read more »

read on
read on
12 years ago

Anonymous Says: +0

May 19th, 2008 at 2:16 pm

“why would all those newly weathly folk want to move here then?”

For quality of life.

So why aren't we all moving to Bali then? If the eastern economies are going to move all the wealth there instead of here (as Jun suggests), then health care, job prospects, etc will no doubt be better there, no?

Anonymous
Anonymous
12 years ago

"why would all those newly weathly folk want to move here then?"

For quality of life.