302 Responses to “The continents most ‘severely unaffordable’ market”
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January 27th, 2009 at 4:08 pm
Skye:
Church groups, particularily in south Florida, are counselling Mexican and Haitian illegal immigrants to go to Canada “because you cannot be refused entry as a refugee’ because of the economic downturn in the southern US. Also immigration authorities have stepped up thier efforts to repatriate illegal immigrants working in the US.
Quote from the Windsor Star
“In Naples, Canadian and U.S. immigration officials met on Friday with leaders of the Jerusalem Haitian Community Center – the organization which first fueled refugee claimants with the notion Canada would grant them asylum, said a spokesman for Finley.
“Efforts are being made to indicate in the U.S. that there is no special program for Haitians, Mexicans and persons of any other nationality to immigrate to Canada,” said Mike Fraser. “Nobody is automatically accepted for refugee status.”
A notice on the Citizenship and Immigration Canada website echoed Fraser’s sentiments. “People should be wary of all organizations or individuals who make such claims,” the release said. A Spanish translation was posted as well.
He would not commit on Francis’s request for expedited hearings or added federal financial assistance for the city.
“The province is responsible for social assistance,” Fraser said. “An increase of the number of people, including refugee claimants, are factored into social transfers from federal government to provinces.” Down south, Rev. Louis Telcy described how the last few weeks have been “sad and frustrating” as he has watched his Haitian parishioners and long-time Mexican friends fleeing in panic or being nabbed and sent home “in chains” by U.S. Immigration officials who have launched a crackdown to remove illegal aliens from southwest Florida.
With the Sunshine State’s housing construction in a full swoon, Mexican and Haitian immigrants from Florida showing up on Windsor’s doorstep may simply be connected to jobs, suggested a vice-president of the Greater Naples Chamber of Commerce.
“We are undergoing a significant economic downturn,” said Steve Hart.
“Residential construction has slowed significantly and a lot of people are suffering. A lot of people are finding it very difficult going these days in Florida.”
Windsor Star
January 27th, 2009 at 3:50 pm
Supraboy:
Q: What does a Jewish wife make for Supper?
A: Reservations
The Asians also flock to restaurants.
Can they cook at home ?
You see them drive their low end Mercedes, Grandma and Grandpa in the back…drive about 20km/h in a 50 km/hr zone…cell phone fired up…ignore stop signs …. put on about 20 km…..do 3 hour lunch…do 40 km drive ……do 5 hour supper…thats about 8 hour work day…they get tired,….go home , get a well deserved rest.
Repeat the next day.
How they have time to buy condos and flip them I haven’t a clue.
Ya gotta respect their work ethic though.
January 27th, 2009 at 3:31 pm
Scullboy
“If I were a one legged Native francophone crack whore spreading syphilis all over Hastings, there’d be no end of money, but I’m white, male and middle class so I’m on my own”.
So you didn’t read the EI regs and screwed yourself out of benefits and now you’re saying you’re worse off than a disabled prostitute because you’re a white male? Crazy. btw prostitutes don’t qualify for EI so I don’t know where this endless money would come from but if there is some then I’ll be the first to cut-off a leg and start turning tricks because that sounds like a freakin gravy train when compared to the misery of being a white guy in a G8 member state.
January 27th, 2009 at 3:09 pm
“However I am sure as fookin glad I didn’t buy a CONDO…. Deal or no deal…the very thought sends shivers.
Now go see if you can outrun a Harley”
So you’re expecting condo prices to drop how much this year?
Why are there still so many cars on the road? During the dotcom bust, I recalled that the roads were dead. I don’t understand that. Also, why are restaurants so jammed packed during lunch hours? Obviously, people here have a lot of money to spend.
I don’t know why, perhaps you can answer those questions.
January 27th, 2009 at 2:41 pm
Wow, the Mexican refugee problem must be really bad if the NDP is complaining about it!
http://brianmasse.ndp.ca/page/630
January 27th, 2009 at 2:40 pm
Supraboy:
No…we kinda missed you..I saw you hiding in the last VCI item. I see you are up to speed .
Old man?
….cave? ..
… no RE I own?
Put it this way.
Wrong on all counts.
However I am sure as fookin glad I didn’t buy a CONDO…. Deal or no deal…the very thought sends shivers.
Now go see if you can outrun a Harley.
January 27th, 2009 at 2:33 pm
“PS Supraboy:
Go up to the bikers and tell them they are “pussies” OK… especially for not buying condos .”
What did I do to you? You’re just a pissed old man hoping to own your own home one day yet you can’t make enough to afford living in Vancouver. Your only hope is to spread bad news with all the bears here hoping that people would start selling their houses below market value. That ain’t going to happen kid. All the chinese restaurants were packed on the weekend. You’re living in your own little cave with the rest of the bears.
When the US economy turns around in the third quarter, you’d wish you had bought at least 5 condos, all leveraged out so you can retire by the end of the year.
January 27th, 2009 at 2:27 pm
Budget stuff:
Taxpayers can claim renovations on their 2009 tax returns on costs over $1,000, but not exceeding $10,000.
…
Also on the home front, the government will put an extra $300-million over two years into energy retrofits, raise to $25,000 the amount first-time homebuyers can borrow from RRSPs, and provide up to $750 in tax relief to help with their purchases.
January 27th, 2009 at 2:23 pm
$ 936 million
If there are 30,000 false “refugees”, here for 2 years and collecting $ 1300 per month, we are paying out nearly a BILLION BUCKS. (pure direct cost, forget shelter, medical, lost jobs etc etc etc)
What a GREAT and GENEROUS country we live in, as long as your not a dopey Canadian taxpayer.
January 27th, 2009 at 2:16 pm
Stuckman:
Mexico doesn’t accept refugees from Canada and jails the ones from elsewhere until thier families pay to get them out . They’re not stupid.
January 27th, 2009 at 2:14 pm
Stuckman:
EI benefits have been extended to 50 weeks max. Thats if you qualify.
January 27th, 2009 at 2:12 pm
Stuckman Gagging Large …
The Sally Anne in downtown Vancouver, which provides room and board, is almost certainly 1/3 Mexican at any given point in time … including right now.
I have personally seen vans arrive in the mornings to take these boyz to work. And Mexico? What and where is the danger to people in Mexico? (For the same deal I’d go there and be a “refugee” in a frikkin heartbeat)
This is too damn much. If there 42,000 refugees and 30,000 of em are immigration que jumpers, here for a least 2 years … do the freakin math.
January 27th, 2009 at 2:12 pm
blackdog:
Refugees make more than a pensioner, thats bad enough but….
It’s even worse in the US where refugees make 2.5 times the old age pensioner. Do you wonder why the cubans are swimming to Miami. Free living, forever.
http://www.snopes.com/politics.....fugees.asp
January 27th, 2009 at 2:07 pm
blackdog:
from a GOC document
“For this reason, government-assisted refugees receive up to $1,330 from the federal government.”
Makes you want to show up at the airport and pretend to speak no English, doesn’t it.
January 27th, 2009 at 2:00 pm
Stuckman:
actually the refugees don’t collect provincial welfare, the refugee collects $1300 per month from the fed. gag on that.
January 27th, 2009 at 1:58 pm
pointystickintheeye:
The Conservatives have backed off on removing the public funding for political parties which caused the ‘coalition’ backlash from the LIBs, NDP and Bloc.
The libs , ndp and bloc were only interested in getting the $1.75 per vote back, look for a collapse of the ‘coalition’ now. God forbid they should have to work for thier funding.
January 27th, 2009 at 1:47 pm
Further to EI …
Forgot to mention that the Feds DID get every penny back – by taking my tax refunds for the next few years. No appeal, no debate, no recourse.
Perhaps some can now understand why this monkey has a problem with “refugees” collecting welfare, taking jobs away from Canadians, and laughing as they juice Canadians whilst avoiding the immigration que.
It RIDICULOUS. A Mexican “refugee” is far better off the day they get here than a citizen working their arses off their entire damn lives. THEY get benefits up the jing yang instantly whilst we get completely forked at every turn.
Best hope to NEVER hit the skids and need shelter. There are no beds available.
January 27th, 2009 at 1:45 pm
Fed gov announced an increas in RRSP withdrawal limits up to 25K. WTF is that going to do to the 400K++ condo market in Vanc.
January 27th, 2009 at 1:33 pm
LilyPad
From Garth blog
QUOTE:
Besides the fact he’s a pussy biker who rides a sports machine and likely wears a pretty leather jumpsuit, George Strombopolous has his serious attributes. The host of CBC-TV’s award-winning The Hour is showing considerable maturity and insight by inviting me on his show on Tuesday evening to discuss, I think, my latest book and various squirrel recipes.
=====
Garth’s Squirrel recipes…
Set up th VCR !!!
PS Supraboy:
Go up to the bikers and tell them they are “pussies” OK… especially for not buying condos .
January 27th, 2009 at 1:28 pm
However, Enser does not believe stories of pre-sale buyers attempting to abandon their contracts and give up deposits will become rampant because there has been less speculation over the past couple of years.
More buyers, she said, have bought pre-sales because they want to live in the apartments and not because they expected to flip them at profits upon closing.
hahahahahahahah
January 27th, 2009 at 1:27 pm
Great rant Scullboy
I too have paid into the EI tax the worker fund for most of my fukkin life.
A few years ago, after more than 10 years in construction I had enough hours to “qualify” (Amazing)
Trouble. EI sent letters to ALL my former employers. I had “quit” once. I was sick as a dog, threw up on site, and decided I needed to go home. The employer demanded I stay. I declined. He told EI I was hung over (absolutely untrue) and that I had “abandoned” my position.
You can guess the rest. EI decided I didn’t qualify after all and demanded every fukkin penny back.
EI is a tax, and the fact there are billions acculmulated in that fund proves it.
January 27th, 2009 at 1:24 pm
Scullboy:
Agreed…there are G-O-O-D Bankers ,Realtors, Economists, Developers etc.
It’s unfortunate the actions/inactions of bad one’s in each profession drag the rest down.
However, that’s THEN the problem of the given professions’ membership to get its house in order…its the often -necessary public outcry that forces the shake-up and ultimate clean -up.
The GOOD ones should benefit from such advertising as word -of- mouth and other venues, then it IS win- win for all concerned.
January 27th, 2009 at 1:23 pm
Great quote from Condohype page
Meanwhile, newly built condos across the city sit empty, more units are coming to completion, and rents undershoot ownership costs by about 50 per cent. Incredibly, this scenario doesn’t faze Polygon’s Michael Audain. He blames the correction on “consumer confidence” as if it’s some kind of mental disorder. Apparently if people were more confident, there’d be demand for cash-flow negative properties.
The insanity must stop. This is hurting Vancouver. It is so hard to accept that real estate prices will eventually settle to historical norms? This isn’t bad for the development industry. Vancouver real estate will still be the most expensive in Canada.
January 27th, 2009 at 1:21 pm
Hidetsugu Aneha, i came across this on wikopedia, thought it might be interesting, it happened there could it happen here, there were japaneese contracting companies building condo’s in vancouver at this time.
What seismic limits do we have to live with, what are the design criteria, ie how big a quake can we take before like Kobe the buildings fall over or the windows and bricks fall out of the place to the ground
Talk about a disclosure statement for these condo’s, lawyers start your engines.
January 27th, 2009 at 1:15 pm
Thain subpoenaed over Merrill bonuses
http://business.theglobeandmai.....m_mostview
QUOTE:
NEW YORK — The New York attorney general on Tuesday issued subpoenas to former Merrill Lynch chief executive John Thain and Bank of America’s chief administrative officer, J. Steele Alphin, amid an investigation into bonuses Merrill paid executives just before being sold to Bank of America.
Mr. Thain, 53, was serving as the head of the newly combined company’s wealth management division before he resigned last week. The resignation came shortly after reports surfaced that billions of dollars were paid to Merrill executives in late December.
QUOTE:
Amid the investigation into the Merrill bonuses, the New York attorney general’s office also said it will investigate executive compensation for all institutions that have received federal funds as part of a $700-billion investment program run by the Treasury Department.
The attorney general’s office will work in conjunction with a special inspector general, Neil Barofsky, who is reviewing banks’ use of the government-invested funds.
========
Catch em ,try them , convict them , and throw them all pricks (who likely created the mess and are now double -dipping)in the “crowbar hotel” with 350 LB ” Drooling Bubba”.
January 27th, 2009 at 1:01 pm
Unemployment numbers building everywhere.
http://www.bangkokpost.com/bus.....ai-workers
January 27th, 2009 at 12:58 pm
heh ironically I don’t dare post these rants on my own blog.
I really was the rude to those people. As far as I was concerned tey really, really deserved it. NEEDED it even. If I’m not going to get help, at least they can be emotional punching bags. I deserve SOMETHING for my tax dollars! And as long as you dont’ use racial epithets or profanity there’s precious little they can do. You can call them a waste of resources who should be ashamed of themselves for drawing a govt paycheque RIGHT TO THEIR FACES, and they can’t do anything about it.
No-L: I heard about that scam. They do it all the time in Nova Scotia. There’s a whole cottage industry devoted to teaching illiterate fishermen to use computers.
The irony was, I really am setting up a business, and I really did write a business plan, which was reviewed by several business owners locally. Say what you will about bankers, mine was excellent. She gave me great input into what kinds of things bankers want to see on financial statements, how they work, correct terminology etc.
Not only that, because she was so impressed with my talent, all around god nature (no, really, I don’t rant like this offline) and initiative, she figured out how the bank can finance my business, very quickly and easily. It was AWESOME!
I don’t like banks any more then anyone else, but I agree with patriotz. They’re being conservative with money
January 27th, 2009 at 12:52 pm
Scullboy
My sympathies. I have hard similar stories.
Have a good friend who went through a “Tech” downsizing as well.
Seems the EI (or related Gov’t agency) scam is to get you computer literate for a few weeks and submit some business plan for “whatever”. I recall how the NDP tried this same scam on a larger scale for laid -off and downsized Forestry workers.
Reminds me of Archie Bunker on T.V’s “All in The Family”, when he lost his job, was equally frustrated and told the Gov’t worker handling his case:
” The only reason YOU have a job is because I DON’T HAVE ONE !!!
I think the whole Gov’t thing is set up so you get a false sense of hope and concurrently ratchet down your anger, etc.
January 27th, 2009 at 12:52 pm
Someone on an earlier post was asking if anyone knew of the ‘ripple effect’ of unemployment and buisnees failures in BC due to the mass 15000 and counting ( plus all the new mills closing weekly) in the forest industry. Suspiciously and unfortuneatly that information is not made public here in BC. Apparently it’s secret?
If you read this article and extrapolate the info onto the Forestry industry numbers in BC that are accessible you quickly get a picture of whats really happening.
http://money.cnn.com/2009/01/2...../index.htm
January 27th, 2009 at 12:47 pm
more good news that CKNW missed
http://money.cnn.com/2009/01/2.....2009012715
January 27th, 2009 at 12:46 pm
Another tuesday, another day of mass layoffs. But/// I listened to some HR recruiters on Bill Good-CKNW lining up to say the everything was just fine, no problem, what a bunch of shithead liars.
http://money.cnn.com/2009/01/2.....2009012715
January 27th, 2009 at 12:38 pm
scullboy:
well then you’re gonna luv this one
http://www.cbc.ca/canada/story.....60109.html
January 27th, 2009 at 12:02 pm
111/112 No-lympics/playbyplay – LOL!
January 27th, 2009 at 11:48 am
Scullboy……
That was one of the best rants you’ve ever posted here. And I agree 100% with your opinion about our government programs.
“If I were a one legged Native francophone crack whore spreading syphilis all over Hastings, there’d be no end of money, but I’m white, male and middle class so I’m on my own.”
ROTFLMAO…!!!!!
January 27th, 2009 at 11:34 am
Stuckman:
Agree 150% on the EI thing. I lost my job back in June and started collecting benefits. OOPS! EI claiimed I owed them 2,000 bucks. Next thing you know OOPS! I didn’t owe them anything. I decided to go back to school, only I didn’t get permission from a caseworker. Turns out you can only go to an EI approved course.
I went to an orientation, there were about 8 guys there. 7 were young tech workers. One was an older construction worker.
I ended up with a “caseworker” who was frankly this big, fat pathetic slab of a man. H’ed obviously been in that job his entire life, and just as obviously would die in his chair. I had taken the time to fill out all the stupid forms, and submit a 25 page business plan in an attempt to explain what I was doing, and why I needed to go to school. This pathetic piece of human excrement didn’t even bother to read the stuff I presented. His whole things was “well if you’re good with computers, why don’t you look for that kind of work”.
I tired politely (at first) to explain I used to roll out infrastructure to call centers, which is not exactly “good with computers”, and he promptly began pulling up ads from craigslist to prove his point.
“Here’s one you could do”
“I’m not a Web developer. I don’t know how to do that job”
“here’s one”
“I”m not qualified to be the CFO of a startup. Is this some kind of joke?”
“Why not this one?”
“OK that’s it. Look, in the private sector when we don’t review documents and we’re plaining incompetent, we get fired. I’m pretty sure they could catch you snorting coke off the back of an underage whore and you’d still come into work the next day. Are you some kind of window-licker? I mean, did they stick me with the retard counsellor? Obviously you aren’t smart enough to understand what I’m saying, and you’re lazy and incompetent to boot. I’m done wasting my time here”
On the way out I asked the secretary how to complain that my caseworker was an incompetent retard.
“That’s not very nice” she said
“Yeah well, I’m not a very nice guy. Thanks for wasting my time and tax dollars.”
And that was it. Even though I paid into it MY ENTIRE LIFE, I can’t get EI benefits. If I were a one legged Native francophone crack whore spreading syphilis all over Hastings, there’d be no end of money, but I’m white, male and middle class so I’m on my own.
A *LOT* of middle class, white collar workers are about to get an EXTREMELY nasty shock. I feel bad for them, but they’re on their own.
The social safety net’s a lie we tell ourselves as a country so we can feel superior to the Americans.
January 27th, 2009 at 11:18 am
106 Bubble Lad Says:
January 27th, 2009 at 10:46 am
Olympic Village.
“Poole said it’s only a matter of time before demand for real estate recovers, which will eliminate taxpayers’ exposure.”
=========================
That’s why Jimy Pattison should have run this…( but probably too smart ).
Jimmy has done a great public service keeping D-Bag supremo Glen Clark out of trouble.
If Pattison would be running the show…he would whip out his classic “YOUR FIRST LOSS IS YOU BEST LOSS “, have all sorts of projections, read the writing on the wall and likely state “sell the Olympic Village off ASAP”.
The one and only reason Poole etc types want to hold on and wait for a market turnaround in the market for $1000 /sq. ft condo , assuming it will return(if it ever existed) is sheer Fookin denial and ego…cover THEIR asses …nothing more…but who ultimately pays for that? The TAXPAYERS!!!! …who will likley have $$$ MILLIONs of added cost over and above the original loan COV has to access.
Where is that extra money going to come from? The TAXPAYERS!!! M-O-R-E Good money after bad !!!
Do what Jimmy would do? … GET RID OF THEM ASAP !.
January 27th, 2009 at 11:05 am
Bubble Lad:
This is a political favour of Olympic proportion. Remember Green was the Vision hopeful who lost against Sullivan previously. After that the incompetant uneducated boob was exiled to the Queen Charlotte Islands on a half time contract for a small native band. This screw up has no knowledge of anything except rabble rousing the NDP extremists voters.
He couldn’t dig a hole for a shit house on a farm and nows he’s going to ‘guide’ the Olympic Village site? Is anything wrong with this? What happened to the so called expert volunteers who were lined up and shot at the photo-op last week?
It’s really going to get ugly.
January 27th, 2009 at 11:03 am
Re; Premier Gordo:
I seem to recall Bill Bennett bailed after EXPO 86..been in over 10 years..leave on high note.
Right now…my view is Gordo wanted to ride the Olympic glory into office, but he can only punch that ticket with a win in May 2009 . That means that he will be in HELL between now and 2010 when the last Polish athlete leaves safely(sorry I had to say that).
I think there wil be a lot of backlash forthcoming when people connect the dots with Gordo, the RE bust and massive bills to pay, and a sell out of BC on so many other fronts.
In other words…if it wasn’t for the Olympics, Gordo would be thinking of bailing and avoidng the shitstorm.
However, my guess he is gone after 2010 shuts down, too much of this mess will be tied to him as Premier at the time. The only joker in the deck is how this plays out with fixed elections… usually a new leader will seek a mandate from the public and go to the polls …so can they or will they do this if Gordo steps down?
Only other option is they stay in the full term.
January 27th, 2009 at 10:59 am
We screwed up, so now could the public bail us out, we’ll give you some tickets to the ass wiping event. Who is going to want to bail out VANOC by taking strangers into thier home for 20 days without compensation? Wasn’t VANOC supposed to plan for the housing at Whistler and they cancelled, most likely because they blew the money on beer and hookers while “meeting” in Aussie.
http://www.theprovince.com/Spo.....story.html
January 27th, 2009 at 10:54 am
How messed up do things have to be before your great hope is…Jim Green?
January 27th, 2009 at 10:49 am
jumpbabyjump:
Yeah it’s very convieniant of them to piggyback thier own bad news while the Fed government is having to deliver the bad news budget today. The Libs have put this out now along side the National figures to fool the stupid into thinking that it will be bad here but that it’s being managed and everything will be forgotten by election time and that the news will laready have been released. Typical political trickery.
January 27th, 2009 at 10:46 am
Olympic Village.
“Poole said it’s only a matter of time before demand for real estate recovers, which will eliminate taxpayers’ exposure.”
Man…what can you possibly say to such stupidity? It’s absolutely mind boggling.
January 27th, 2009 at 10:45 am
OK here we go with the pork and slush with the Olympic village site WTF does this douchebag know about construction? Does anyone think that 1 billion is going to be enough after the politico douchebags at COV hire evry hanger on , brother in law and party campaigner to ‘consult’ on the project? Does anyone now think that this boondoggle isn’t going to be turned into a pretty crack house as a way to ‘save the homeless? What a crock, it’s become a slush fund for every leftie douchebag in Vancouveer politics.
http://www.vancouversun.com/ne.....story.html
January 27th, 2009 at 10:35 am
EI numbers are one thing …
Fact is the EI numbers represent the very lucky few able to acculmulate the required hours to get benefits in the first place. EI is simply another tax for the vast majority of workers in this country.
Last I checked it took upwards of 750 hours to even qualify for EI in the lower mainland and the absolute maximum was 5 months of benefits.
Sad to say the vast majority of the construction industry CANNOT acculmulate enough hours because a body is CONTINUALLY working oneself out of a job.
Real numbers are those forced to collect welfare, and that will be exponential moving forward.
And again. Are we happy having 42,000 refugees’ here, 30,000 of which are simply avoiding the immigration que whilst collecting welfare and taking beds from the homeless?
January 27th, 2009 at 10:27 am
The big bullshitter Gordon Campbell is getting backed into an ‘election corner’. Libs now floating trial balloons getting you ready for the bad news that will come out during the election campaign.
http://www.theglobeandmail.com.....itics/home
January 27th, 2009 at 10:24 am
realestatesplatter:
Unemployment up more than 99% in some cities
http://www.financialpost.com/story.html?id=1222624
January 27th, 2009 at 10:20 am
Unemployment up 12% in November!! Unemployment is Accelerating!! November hadn’t been too bad but dec and Jan numbers should be gangbusters!!
http://www.globeinvestor.com/s.....7/GIStory/
January 27th, 2009 at 10:06 am
WASHINGTON (MarketWatch) — Home values in 20 major U.S. cities fell a record 18.2% in the 12 months ending in November, Standard & Poor’s reported Tuesday.
January 27th, 2009 at 10:05 am
Post # 89
Alexcanuck
Re: SmartCar
I could have expanded the comparison more.
However, I didn’t see people flocking to buy Smart Cars when gas prices shot up, (but no offence to you cheap Lefties that tend to buy them to keep Al Gore and David Suzuki happy ).
An auto executive recently stated that the majority will tend to purchase the biggest gas guzzler they can afford. IMHO that translates into personal safety / security, bigger is or feels safer. Same premise applies with condos, given there will likley be a glut of bigger units anyway, hence more selection.
BTW I am now aiming higher than the Pulitzer…
January 27th, 2009 at 9:51 am
This just in from Bloomberg:
“Olympic Bailout Puts Vancouver Taxpayers on Alert for ‘Big Owe’”
http://tinyurl.com/d7w48o