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December 6th, 2008 at 10:01 pm
Jhon,
Never mind brittanny is liberal since they got humiliated defeat there was only coalition hope remain which recently died when liberals start kicking separatists agent Dion so she is out on lethium.
December 6th, 2008 at 9:42 pm
John blog #124 – Realtwhore, Pimp, Sccumbag
December 6th, 2008 at 9:40 pm
ONLY FOOLS ARE SELLING THEIR HOMES IN FEAR
“It’s fair to say British Columbia, relative to America and North America is actually faring quite well because Vancouver is fundamentally different than USA and rest of Canada,latest employement report shows that vancouver b.c. is “THE BEST PLACE ON EARTH” otherside every body knows what’s happening south of border while in vancouver it’s been three year of false propoganda by domestic idiots to ruin this city to bottom line but results are totally opposite employement is up,income is up,interest rates are low,MLS Listings are down and Analysts expect the bank to announce a 50 basis point cut on Tuesday, taking the overnight rate down to 1.75%, though money markets were betting it could unleash a more aggressive 75-basis-point chop. with average $60,000 to $70,000 rents for average sfh almost $800 low mortgage payments almost $9,600 per year in total cuts so far.#97 VHB Says:”I am loving it”.Hey VHB stop eating junk food because hey VANCOUVER REAL ESTATE NEVER GO DOWN
December 6th, 2008 at 5:43 pm
for the truly fearless:
http://tinyurl.com/2rswcf
quality control is job one!
December 6th, 2008 at 5:17 pm
On my way to the wife’s staff party tonight. I sure know what to say if any of that nasty old negative nelly talk comes up:
Bob-Rennie-condopalooza-longtermview-bestplaceever-richAsian-Heylookit’sElvis!
I can’t believe I’m actually looking forward to it. Our financial planner will be there–that turd tsk-tsked me earlier this year because I was “trying to time the market.” (yeah Einstein, let me dollar-cost average my way out of losing 100K on my house in 6 months.)
December 6th, 2008 at 4:38 pm
Canadian Home ownership back in the 1950′s and 1960′s..
I talk to various parties about those days and how the Canadian Gov’t assisted them.
One party works for a major Vancouver commercial landlord whose Father built a Richmond subdivision. Homes were basically 3 styles, Ranchers/bungalows, split -levels or (2) storey.
This developer had it down to a science almost like US mass produced Levitttown (its own fascinating story seelink below)
http://en.wikipedia.org/wiki/Levittown,_New_York
The Richmond houses sold on average for about $10,000 , but the builder wa able to sell them for approx $1,000 less(a big discount back them)due to having a very effecient system in place much like Levittown’s
However, the Gov’t came an ” encouraged ” them to charge more..or else the would “embarass” other builders building under the same gov’t program.
Also, re QUALITY
Told by family members re the CMHC inspections of their CMHC homes…inspector went up into the attic and found one nail missing in the framing an demanded it be done before he passed it.
Ah the good old days.
December 6th, 2008 at 4:04 pm
Did you ever wonder how those boomers got their first home?
http://dsp-psd.tpsgc.gc.ca/Col.....sing-e.htm
“At the beginning of the 1980s, three temporary federal programs were introduced to assist middle-income families. The Canadian Home Ownership Stimulation Program provided grants to home buyers. The Canada Mortgage Renewal Plan assisted homeowners in paying the portion of their mortgage and property tax that, as a result of mortgage renewal at higher interest rates, caused their payments to exceed 30% of their income. The Graduated Payment Mortgage Plan helped homeowners to reduce their monthly mortgage payments.
During the first five years of the 1980s, 1.7% of total federal government budget went to housing. During the latter half of the decade, this figure dropped to 1.4%. Of all the program areas of the federal government, housing has had and continues to have one of the smallest expenditures. Most of the decline in housing expenditures during the 1980s was in market housing (e.g. home ownership and rental construction assistance) rather than social housing programs. Over 90% of federal housing funds are spent on subsidizing social housing projects.
In 1986, the federal government introduced its New Housing Directions, which made two changes related to public housing policy. Social housing was directed to households in “core need” (a shift away from mixed-income housing projects), and the delivery of social housing programs was devolved to provincial and territorial governments.”
December 6th, 2008 at 3:58 pm
Yeah I’m a Regular said:
“Actually, it gives me an idea, why don’t we bears, frequent the RE bull blogs, (provided one can be found) and post bullish till our hearts content, so that we can keep the hope alive within the specuvestors till spring?”
I have a better idea. Why don’t we all go out an lobby for a Canadian Home Stimulation Program to take care of the oversupply like was given out in the 80′s? I remember people getting $10,000 grants (they didn’t have to pay them back) to buy a home back then. At today’s home prices we should get at least $50,000 per home. Where’s Jack Layton when you need him? Oh, ya. Go coalition, go.
“In the early 1980s the Canadian Home Stimulation Program provided grants to home buyers”
http://www.thecanadianencyclop.....RTA0003865
December 6th, 2008 at 3:40 pm
To J
Post # 138
Someone(name escapes me) made a comment this week re ” quebeccorners” as their indicator re the RE market, given they frequent the area.
Check this weeks postings for this Web Site……they didn’t recommend it for reasons they laid out.
December 6th, 2008 at 3:36 pm
Re Post # 134
If the parties that have put their money were their mouth is are WRONG…what does that tell you ?
Aka Polygon (which has been around for a long time ) has various projects in Richmond,
getting close to completion, many in the West Cambie area. They, like others, have seriously underestimated the demand.
Even the Big Boys drink from the kool aid, its not just the buyers.
December 6th, 2008 at 2:31 pm
“Somewhat explains why folks choose to bury their head in the sand. The market will bound back in the spring, don’t worry specuvestors.”
Actually, it gives me an idea, why don’t we bears, frequent the RE bull blogs, (provided one can be found) and post bullish till our hearts content, so that we can keep the hope alive within the specuvestors till spring?
Keep the finger in the hole to let the dam build more pressure.
December 6th, 2008 at 2:20 pm
Somewhat explains why folks choose to bury their head in the sand. The market will bound back in the spring, don’t worry specuvestors.
http://www.theage.com.au/opini.....ml?page=-1
December 6th, 2008 at 1:49 pm
“As seen on TV!”
V733047 # 1810 1050 BURRARD ST 1068.0 sqft.$499,000
Sutton Grp-West Coast Realty
Re: QuebecCorner – why is this exactly a dog, aside from the major problem of being overpriced? If it was say… 2/3rds the price I couldn’t see why it would be unreasonable. Am I missing something?
December 6th, 2008 at 1:36 pm
V731823 # 1705 1050 BURRARD ST 686.0 sqft. $499,000 Century 21 In Town Realty
V733047 # 1810 1050 BURRARD ST 1068.0 sqft.$499,000
Sutton Grp-West Coast Realty
December 6th, 2008 at 1:07 pm
I still firmly believe that most people have no idea what is in progress and what is on the horizon for the local market. Most friends and associates still parrot the notion that RE prices will be higher at some point in the future, so even buying at the admitted peak was and will be considered a brilliant move in the future. I`m only met with a blank stare when I attempt to dissuade them of this notion. There will have to be a bloodbath before the true magnitude of the bubble is evident to the masses of RE brainwashed BCers.
December 6th, 2008 at 12:43 pm
the one thing that we do not learn from history is that we do not learn from history
December 6th, 2008 at 12:09 pm
I was told Polygon has canceled all upcoming projects again last night, by someone who works there.
The last time I mentioned this Clam Chowderhead said it was false.
Any comments there clam?
December 6th, 2008 at 11:57 am
Quebeccorner development in today’s Vancouver Sun
http://www.canada.com/vancouve.....9aaf63ea8e
QUOTE:
“I think people welcome an option to living in a stereotypical condo tower where it’s very anonymous with no sense of community,” says Doddington, pointing out he lived for five years in a Yaletown condo tower without ever having met his neighbours.
Quebec Corner, with its self-managed strata, will likely result in homeowners getting to know one another and having more pride of ownership, he says, adding strata fees are low and range from $140 to $200 a month. ”
I recall one poster noted this one came under the category of “DOG” property, one to avoid .
December 6th, 2008 at 11:18 am
I’ve been looking around the new Port Moody developments since this Spring – back then the cheapest units were over $320K. Since that time, the majority of them were slowly dropping in price, but refusing to go below $300K.
Now there are a few under $300K, including this unit V745815 which was just listed for $269,900! In June, 6 months ago, a very similar unit (3 sqft smaller) in this building, on the same floor with only 1 parking spot and a view of other buildings, was $338,300 – I still have that open house sheet.
That’s a loss of nearly $12,000/month for 6 months, and this is just the beginning! I don’t know about the rest of you, but having my 5 years worth of saving for a downpayment become completely meaningless in 6 months just might make me cry.
December 6th, 2008 at 11:15 am
” Those who do not learn from history are doomed to repeat it” .
I’ll add to that “the devil is always in the details.”
I seem to recall the boom to bust in the late 1970′s and early 1980′s was based on domestic policy, more self inflicted grief in and amongst Canadians with little external influence. It wasn’t sustainable and that internal bubble burst.
Then came Expo 86.
We now had serious external influence to the RE market.
The whole dynamic changed…the domestic market , at least in BC , had to compete with global “offshore” competition.
It basically tanked once Hong Kong was ceded to Mainland China
Then the run up to 2010 and the same RE boom cycle
If you read a few articles…many of the big RE players have gone behind the scenes and convinced Gov’ts to put on these Roman Circuses to start the RE run -ups. Georgia Straight had a good article recently of how Jack Poole at a meeting of his development peers, has a master plan back in the early 2000′s to start the RE run up, and the 2010 Olympics was key. Whistler is just an excuse for the Public teat to get milked to fund improved infrastructure for development along the same route.
Another article mentioned that VANOC’s John Furlong actually once worked for one of the biggest developers (C. Chan?)who has a lot of land holdings along the Sea to Sky highway.
I think the writing was on the wall since the early 1970′s….that many Gov’ts at least here in BC, rolled the dice that the RE industry would sustain us. RE became its own Roman Circus…more like an orgy.
Our resources are hooped…ie No Fish….collapse in Forestry ..Commodity prices too unstable….manufacturing goes offshore… Hi – Tech( EA? whopppeee !!! )
So the $64,000 question is ……with the RE collapse… NOW W-H-A-T ?
December 6th, 2008 at 10:57 am
I was stunned by the bust of 1981-83 and was sure that I would never see anything like it again. I am now convinced that the bust now in progress will be worse. Those who do not learn from history are doomed to repeat it.
Well said as usual, Patriotz.
We need a bust on the scale of the GD to get regulations and policies in place strong enough to prevent the scale of bubbles we’ve seen lately. And to teach the sheeple a strong enough lesson about the danger of debt to accept those regulations, and save, live prudently, avoid speculative activity, create a prosperous society that can raise a new generation who don’t have a TERROR of debt, but just a healthy caution.
And that happy generation are still safe, but they will raise the next generation who dismiss the grandparent as fuddy-duddies, and the parents as boring, embark on a new spree of borrow and spend partying, bailing out every bubble with a new and bigger one, never looking at the foundations of their grandiose house of cards until it culminates in, well, NOW!
Wash, rinse and repeat.
December 6th, 2008 at 10:46 am
As per Streel’s article, if the 5-year term mortgages taken out in 2003 are starting to re-set in Halifax, that means they are starting to re-set here in Vancouver, too.
More fuel for the fire.
Although, as VHB has stated before it is not the subprime loans that are responsible for the crash, it is unaffordability:
http://vancouverunrealestate.b.....tions.html
However, I would maintain that unaffordability was caused by subprime mortgages, overbuilding, and pre-sales that all fueled “positive” speculation.
December 6th, 2008 at 10:34 am
The causes of the housing bubble in Canada are the same as in the US – idiot buyers, loose lending, and government policies that enabled them. The details vary, but the themes don’t.
As I have posted previously, the cause of the RE collapse is the high prices themselves. Period.
The Cons are not guilty of creating the bubble – it was well underway when they took office in 2006 – but of deliberately extending it by introducing the 0/40 insurance at a time when any sane policymaker would have tightened up on lending. Without this move the bubble would have begun deflating at the same time as in the US, and the bust would have been smaller in scope and have left less damage to consumers, financial institutions, and government.
I was stunned by the bust of 1981-83 and was sure that I would never see anything like it again. I am now convinced that the bust now in progress will be worse. Those who do not learn from history are doomed to repeat it.
December 6th, 2008 at 10:16 am
My last post was in response to the conversation with Patriotz and No-lympics about who is to blame for the housing bubble.
December 6th, 2008 at 10:10 am
Well, I would say that the de-regulation in the mortgage industry also had an effect when GMAC started to offer subprime mortgages to Canadians in 2003.
http://www.prnewswire.com/cgi-.....amp;EDATE=
December 6th, 2008 at 9:49 am
MISTER GOMES: A LIGHTWEIGHT SAYS:
Gomez said the correction that markets are experiencing doesn’t yet account for the real impacts of job losses and other effects of B.C.’s and Canada’s slowing economies.
He also says the beginning of Vancouver’s housing decline has been much steeper than in U.S. markets such as San Francisco, Los Angeles and San Diego.
MISTER SOMERVILLE: LIGHTWEIGHT(SHOULD GET A GROWN MAN’S JOB) SAYS:
Somerville conducted his own analysis of Vancouver prices earlier this year that compared the cost of buying a house versus the cost of renting a similar unit. He concluded Vancouver real estate was 11-per-cent overvalued
MIS ADAMANCHE: LIGHTWEIGT EMBARRASSMENT SAYS:
Adamache’s forecast is for a nine-per-cent drop in 2009 compared with 2008, assuming B.C.’s economic situation does not worsen
“Other analysts, however, suggest prices in B.C.’s real estate markets could continue dropping until they’ve knocked 25 to 30 per cent off peak prices seen early in 2008.”
MISTER DAVE WATT, I DON’T BELIEVE A WORD HE SAYS, BUT I RESPECT THE FACT HE DOESN’T HIDE HE IS A PITCHMAN SAYS:
Dave Watt, president of the Real Estate Board of Greater Vancouver, said markets started to turn when some in the market could no longer afford to buy
http://www.vancouversun.com/Ho.....story.html
DO A GOOGLE CHECK WHAT THESE EXPERTS WERE SAYING A FEW MONTHS AGO.
December 6th, 2008 at 9:40 am
Now that the coalition has been defeated I’ve been getting lots of calls from sellers of downtown condos. They didn’t want to sell because of the crisis. Now that prices are going up again they’ll sell thankfully. I’ll probably buy a few more for quick flips. Should be fun.
December 6th, 2008 at 9:19 am
Re: RE collapse ….Blame the Tories ?
The Tories have been in power since early 2006, less than (3) years.
The bubble was building for years prior.
The Feds do NOT have control over the supply of product ie condos. That is a function of your own Local Gov’t. If there is no product, the funding effectively means nothing .
If the Local Gov’ts do not change their OCP’s and allow for the flood of product…then the market achieves more stability.
Vancouver actually double – dipped by increasing density for the private sector and took a gamble of its own with the Millenium project.
Too many Local Gov’ts simply went absolutely nuts in this development orgy. It became a game of either keep – up OR one – upmanship, with Vancouver as the lead dog ( probably in fear of losing its title of ” King City ” to Surrey ). They have now created a black hole that will suck the real value out of property for years…we haven’t seen anything yet.
IMHO, The blame lies moreso from the Bottom up, not the top down.
============================================================
Drove through a bit of a “development” guantlet last night…from South Granville right down to West Hastings. Granville near 41st had some completed projects and another from Concord still working on the ground floor ( I think this was once the Eden Groups site before they bailed)
Downtown…..along Burrard, all sort of projects past the point of no return…still working on the lower floors. You have to wonder what goes on in these developer’s minds….the market has tanked but can they stop? It’s like building one’s own coffin.
Drove past the Wall Center and smirked with the recollection of the Global News feature about that Foreclosure where the owner basically abandoned the condo and left everything .
” Which one is it ?, I thought. ”
Others who bought in there must have cringed when the story was made public…the story basically said “Wall Center condos… 30 % off O.B.O. ”
The icing on the cake was looking up at the Shangri- La,….I could NOT beleive it…. from my view corridor, I think I only saw 2-3 lights on in the tallest building in Vancouver, it looked absolutely abandoned.
December 6th, 2008 at 9:02 am
Streel, nice link,
http://thechronicleherald.ca/Business/1094474.html
“Since the subprime market peaked in 2007, the majority of subprime mortgages will not come up for renewal for a couple of years.
Mr. Tal, who is based in Toronto, says that he thinks subprime mortgage holders in Canada will have to pay significantly higher interest rates or they will not be able to renew. Many won’t be able to afford the new rates”
Interesting on a couple of fronts:
The pimps have always denied we had subprime, and as in the USA, when they did finally acknowledge the subprime time bomb, they said it was a minor part of the mortgage market it would not have significant impact, should some of it go sour.
Fast forward, now in the US they are using subprime as a scapegoat,when in fact subprime is a symptom of the bubble,and not the cause, although it did contribute to keeping the bubble afloat a little longer,just as the 0 down kept it afloat here a while longer, but just like the law of gravity can be suspended for a while, it can not be repealed.
December 6th, 2008 at 5:43 am
Her advice: ‘Sell your house’
Mortgage broker is telling some clients to move now before it’s time to renew
http://tinyurl.com/57x9mc
Thought you might enjoy this from the Herald in Halifax of all places, this is nowhere near the subprime paradise that Vancouver is. “Please move along, nothing to see here”.
December 6th, 2008 at 3:17 am
There is no optimal course of action because it has been sabotaged by the irresponsibility of the last two years. I am not claiming that the actions proposed by the Liberals are the best thing to do. What I am saying is that if the government had taken advantage of two years of good times options would have been available to deal with bad times. The prospect of a housing-induced recession, which had already been predicted by the time the Cons had taken office, was willfully ignored.
If a government is not capable of of anticipating or preparing for bad times, why should anyone have any confidence that it is capable of dealing with them when they arrive?
And on another topic, the Olympics can no more have a deficit than… you know…
“VANCOUVER — As stock markets dive, companies go belly up and economic fears stalk the land, overseers of the 2010 Winter Olympics have revised their budget, and the new document is full of sober reminders that what seemed fiscally fit just six months ago is no longer so buff.
The result – to be unveiled before the Vancouver Olympic Organizing Committee’s blue-ribbon board of directors on Tuesday – is designed to ensure that the biggest peacetime event in Canadian history keeps its financial head above water. The proposed budget contains a significant increase in VANOC’s original, $100-million contingency fund to prepare for economic dangers ahead, and serious cost-cutting to pay for it.”
http://www.theglobeandmail.com.....m_mostview
December 6th, 2008 at 1:30 am
Oh, I see. And because the conservatives had made a pre-election promise not to go into deficit that they strategized a bailout/stimulus pkg in the budget would be too soon. They could no longer pretend the economy was hunky dory after they won the election, but they weren’t ready to start the pay-outs to their banker and manufacturing and auto industry friends. Now that it has been called for by the coalition — party away like the USA!
December 6th, 2008 at 1:15 am
Because they have damaged the federal fiscal position so badly, they can’t afford any stimulus. The fact that the savings rate was declining during a time of economic growth meant that the GST should have been increased, not decreased. Both to strengthen the fiscal position and to discourage consumer debt. Similarly the 0/40 means losses ahead for CMHC which the federal government is obliged to cover, and even more consumer debt.
The Cons spend two years shooting into the air in a drunken party and now that the bear has arrived they don’t have any bullets left.
December 6th, 2008 at 1:00 am
Patriotz: I agree with everything you said. Obviously I would not be a very good politician. I don’t think that way at all but once it’s pointed out to me voila! It all becomes clear. Thanks for setting me straight.
Why then wouldn’t the conservatives want to put a stimulus package in the budget? Was that supposed to be another chess move or was it based on economic responsibility?
December 6th, 2008 at 12:45 am
0/40 was not a “mistake”. It was a deliberate attempt to juice the economy to secure them a majority in the next election, just like cutting the GST. They failed because the house of cards fell down faster than they anticipated. Now the recession for Canada will be worse than it need be because of these wrongheaded moves.
In 2006 the global housing bubble had already been called by a number of very prominent sources, and to claim that the Cons were acting innocently is just absurd. They were deliberately trying to extend the bubble.
December 6th, 2008 at 12:20 am
Maybe Steve and Jim regret the 0/40. Maybe that’s why they don’t want to throw more money away with bailouts and stimulus packages.
It still doesn’t give them an excuse for trying to cut the legs off of their competition by trying to change democratic process via a budget, but I’m just saying they may have learned something from their 0/40 mistake.
Or, maybe they’re just being like Rennie and think their biggest mistake was caring too much.
December 6th, 2008 at 12:11 am
Maybe Canadians can learn from the ineffectiveness of throwing good money after bad from our neighbours to the south.
It’s too late to learn, the good money has already been loaded into the cannon though CMHC insurance.
Thanks for the 0/40, Steve and Jim.
December 5th, 2008 at 11:43 pm
I found this video over at the Alberta Housing Blog posted by a guy named GUY who said it reminds him of what Trudeau did to our generation. Hmmm. Interesting connection.
http://tinyurl.com/5rj9ya
December 5th, 2008 at 11:14 pm
Guess who made Number 7 of Vancouver Magazine’s 50 Most Powerful of 2008?
http://www.vanmag.com/News_and.....age=0%2C14
His Worst mistake? Caring.
No sh*t.
December 5th, 2008 at 11:03 pm
Rennie now has a column in BC Business magazine.
His latest column is here: http://www.bcbusinessonline.ca.....launch-pad
December 5th, 2008 at 10:55 pm
Mish’s latest interview on Howestreet.com
http://www.howestreet.com/audiovideo/
December 5th, 2008 at 10:50 pm
Sing-a-long time with Mike Mish Shedlock courtesy of one of his bloggers named Stonewall.
50 Ways to Beat Deflation. One, two, three
http://www.marketoracle.co.uk/Article7608.html
Maybe Canadians can learn from the ineffectiveness of throwing good money after bad from our neighbours to the south.
December 5th, 2008 at 10:16 pm
Who hear? Who here. It’s a homonym thing.
December 5th, 2008 at 10:13 pm
The real motive behind Bob Rennie’s public service announcement??
A special attribute of many real estate developers is that they’re frequently also big gamblers.
Who hear remembers Robert Campeau? Or the Reichmann family?
Robert Campeau made an massive fortune in real estate development and then blew the entire thing on Federated Department stores (Bloomingdales). He gambled and lost.
How about the Reichmann family? Olympia & York made them some of the wealthiest investors in Canada… but gambling on Canary Wharf humbled them.
The same can be said for major real estate developers all over the planet. There have certainly been some notorious “flame-outs” in Hong Kong and other parts of Asia. The pattern repeats… the developer is successful and begins to believe that he/she can do no wrong… they invariably bet the farm on the next, biggest and best real estate development project and then BAM they get toasted by an economic downturn.
So what does this have to do with Rennie? Well, he may have started to think he was bullet-proof. He may have gambled and “bet the farm.” More and more, instead of just being a salesman, Rennie was becoming a partner in the developments he was marketing… he was mutating into a developer.
My guess is that now, with the Vancouver market tanking, he may be looking down the barrel of some serious financial hurt. Unless the real estate economy here in Vancouver can magically bounce back he just may be getting toasted. Of course it won’t bounce back… it can’t, because Vancouver real estate has lost it’s lustre for the time being. Vancouver real estate participants have lost confidence.
And without confidence, you can’t keep selling stainless steel dreams at prices that are simply uneconomic.
December 5th, 2008 at 10:05 pm
Since 2005, prices in the U.S. have been edging downward owing in large part to imprudent subprime lending practices.
Oh yes, the REIC Big Lie, the US RE bust was caused by “imprudent subprime lending”, which is just code language for “lending to darkies”.
Let’s hear from someone who was right about RE south of the border all along:
“The reason prices are falling is because of gravity,” Thornberg (pictured here) told the Register after delivering the UCLA Extension Real Estate Forecast at the Skirball Cultural Center in Los Angeles. The run-up in home prices over the past decade was “ludicrous,” he said, noting that the increase wasn’t accompanied by a comparable increase in income.
By Thornberg’s math, a typical Southern California house payment equaled about a third of its owner’s gross annual income in 1999. By 2007, it equaled about 70%. “That’s why prices are coming down. They have to come down.”
http://lansner.freedomblogging.....rice-drop/
70% eh? Where else have I heard that number?
December 5th, 2008 at 9:46 pm
I didn’t see this posted here yet, Dave Watt did an ‘op-ed’ piece in the Vancouver Sun about how our housing market collapse is not the same as the US market collapse:
http://www.vancouversun.com/Ho.....story.html
Looks like a good source of quotes for the wiki, some real gems like this:
It almost reads as comedy.
December 5th, 2008 at 9:21 pm
It’s the people pretending to be performing a “public service” that deserve the real scorn – yes that’s you CKNW, Bill Good, Michael Campbell, Tsur Somerville, Helmut Pastrick, CMHC, etc, etc.
Don’t forget, or let anyone you know forget, what these fools were up to when the line ups form for a bail out. I’m thinking specifically of that Realwhore Robyn Adamache and her disgusting display of shillery in this whole debacle. When the shite really hits the fan you know the taxpayers will be saving her useless job.
December 5th, 2008 at 9:19 pm
“It’s the people pretending to be performing a ‘public service’ that deserve the real scorn”
Yeah the ones that do half-assed research yet are touted as “experts” when they have so obviously got it wrong will need to go to purgatory and write a “Why I was wrong” essay.
Remember, though, the media willfully went to these guys for supposedly unbiased opinions without doing due diligence. Perhaps the media needs to try harder to find alternate points of view.
December 5th, 2008 at 8:10 pm
What a mess that guy has created for himself. I really feel sorry for his soul.
ummm he sells RE
he has no soul
see: Faust
December 5th, 2008 at 8:04 pm
response to Bob Rennie:
Bob, you little turd. For the last four years I had to endure countless conversations at social settings where people brag about the increasing value of their real-estate, and yet you and CKNW were not suggesting that the topic should be changed when the topic of “positive speculation” came up. Now the shoe is on the other foot….how does it feel?