http://globaleconomicanalysis......o-new.html

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I second BBY’s motion.
Please return the numbering system for posts.
Thx !

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You are making the fatal mistake of ignoring the rental market. Who in their right mind would buy or continue to own a house that they could sell for, say, $10,000,000 but could only rent for $2000/month. The answer of course is nobody.

That is the reason why house prices always adjust to a competitive return on rental income regardless of how irrational owners are. Investors must become rational in the long run, otherwise they end up broke.

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Anyhow, I’ll stop speculating when we get a straight-forward answer.

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The reservation rate or (buyout) is only half of what we were told. This means few rich groups are planning on coming to Vanc for the games.

El Nino is back ,that means no snow for the games, oh oh, can you say total bust. I don’t doubt that the chidren will be forced at gun point to prove up the backdrops of the empty venues.

Looks like North Flase creek is surrounded by shit on two sides. Homeless refuse to move and false Creek is reeking. Great investment dudes.

Provincial deficit goes through the roof. The 500 milllion projection is falling away fast. Expect a real zoo when theres no money for anything EXCEPT Olumpic fatcats feasts. What is greggy Robertsons big idea, a 50 million dollar bicycle bridge. What an asshole.

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shitsinthefan Says:
July 9th, 2009 at 2:45 pm
I see that Warren Buffet is calling for a ’second stimulus’and predicting an 11.5% unemployment rate. I have been reading that approximately 15 million people in the US are currently unemployed. At 11.5% this represents 30.06 (or roughly double) million people from a population of 306 million. Is that right?

No, it’s not correct; the denominator of the unemployment rate is not the total population, but some version of the total working-age population. 100 of 1 year-olds are unemployed, so it would be ridiculous to lump them into the unemployment rate. According to the US BLS, the total civilian labour force as of the second quarter of 2009 is about 155 million.

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I’m just waiting and keeping my powder dry. It’s gonna unravel big time in this city…

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http://www.dailybusinessreview.....uptcy.html

Just wait for it – we will be reading stories like this in the Sun 2 years from now.

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The budget office is also forecasting bigger job losses for the country, suggesting that as many as 530,000 jobs could be lost this year, and as many as 700,000 next year.”

http://www.canadianmalcontent......amp;t=6685

Flahrety is trying to shut this guy up but the bad news keeps coming. The jobs loss numbers are in the thousans a day category now and are expected to accelerate according to most independant experts.

This has to be the best enviornment to buy a house ever!!!!

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Big Bad Numbers come out in late edition of National Post

http://www.nationalpost.com/ne.....id=1772116

No recovery seen until 2012.

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” Four nabbed in ghoulish scheme to dig up graves in historic Illinois cemetary”

Read more: http://www.nydailynews.com/new.....PLuk&C

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http://www.reuters.com/article.....mp;sp=true

Why would I buy a house in an enviornment of rising unemployment again?

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The problem we have in Canada is a lack of objective reporting, its all advertising based. So, if a reporter in the MSM writes a hard story about the city, RCMP, FED & Provincial government or major industry they immediatley get threatened with a ‘loss of access’. Meaning they are threatened financially and the boss freaks out and pulls the story, whether its good or bad. The Conservatives pulled this stunt when they refused to allow reporters to ask questions or interview parliamentarians until the MSM in Ottawa stopped lambasting the Party with rabid Liberal diatribe. It was a real bulldog way to deaL with an offensive Liberal medai but the point has been well learned and now everybodies doing it.

The effect has been to shut down criticism in the CDN press. Now that the recession in the medai is on full blast, we have effectivley zerp objective reporting. In fact in the case of Corus aka CKNW they had decided to become a cheerleader and taking off the mask of unbias journalists altogether.

This ploy leaves most people ( public) completley in the dark about the facts of the issues around them. Their 5 minutes of information gathering a day is limited to the propaganda and BS that comes out of the Braying Whores in the pages of the Province and The Sun. Ignorance is not a good thing, but its a very effective tool whaen it comes to crowd control. We have a whole lot of that in BC.

So VB, I and quite a few others are aware of the BI-National pressure that has been put on the City of Victoria and Vancouver to clean up their act but so far the province has reigned in their own crown prosecuters from applying the sanctions already placed on the government for breaking the law under the Federal Fisheries Act. Ipso Facto the Province and the City are openly flaunting their ability to circumvent the law by placing the file in the limbo bin even though they have already been convicted on several counts.

So the COV web page says that they are going to do something over the next 50 years. What that really says is FU to the public. As long as they can keep the issue OUT of the news, they’re gold. Its going to take open warfare from the public and that will only come from keeping these issues IN the news with the help from the International press. Only by embarrasing the shit out of them ( great pun) will we ever see any action.

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This change is to fix that problem – comments will hide below -10, but you’ll still see the posters name and expand to read them if you want. This way garbage will be hidden, but reasonable comments can be rescued from troll moderation oblivion.

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Reapaul is right about one thing, we;ve heard from our clients that under $500k is the sweet spot, anything over that will have difficulty selling. Not surprising at all since that represents the maximum level of affordability for the average income earner with minimal down payment.

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Hi Pope, I would make one suggestion: if you’re going to have negative-rated comments disappear, I would suggest something like a minimum of -5 before they go, otherwise some of the trolls could make legitimate comments disappear.

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I’d just like to point out two things:

Victoria was ordered by the provincial government recently to have primary treatment of their sewage, and the City is hoping to have it in place by 2016 at the earliest.

http://seattletimes.nwsource.c.....ge10m.html

Vancouver is slowly replacing all of their combined sewer pipes with separate sewage and storm water pipes, so there will be no more overflow problems once it is complete. Unfortunately, they only replace `% of the system per year, so they target completion by 2050.

Burnaby is doing the same and has a target completion of 2050 for Vancouver Sewage Area outflows, and 2075 for Fraser Sewage Area outflows.

New Westminster seems more ambiguous, but says they’re also doing at least 1% replacement per year.

http://www.metrovancouver.org/.....Sewers.pdf

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Re rents and rentals

Good points.
What I am now observing, and a phenomeon I hadn’t seen before, are people advertising ” rooms for rent” with signs and sandwich boards on or near their front sidewalk. Many of these “rooms for rent” are monster homes on good neighbourhoods.

Rents are declining and vacancy is up, or vice versa.
Many buyers had bought these monster homes, in fact, turn these monster homes into boarding houses, before the crash…this had been another phenomenon that likley added to the market demand. Now this class of landlord is seeing less demand and perhaps an inability to pay the mortgage.

The expert you quoted is a classic example of missing the big picture. When the perfect storm hits of people who can no longer afford to keep their homes ….. an oversupply of homes …..and a collpasing economy all align concurrently, rents don’t go up, its an “oversupply” meets “cash – strapped” renters market.

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Keep up the good work with you insider views of what goes on behind the scenes in the financial/investment sector and what their crystal ball is showing. Very enlightening. There are many ways to manipulate and tweak the truth, but it ultimately delays the same end result.

My view is the Feds see the tsunami is coming which has about a 2 year lag phase from its origins in the US.
On the political front, perhaps PM Harper sees its and yet still wants power, Iggy may also see it and says no thanks to being in charge now.

Shell recently anounced the possible closure of a major refinery in Quebec, Shells’ largest in Canada, 75 years old.
Not much good news out there across the board.

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