Of course you don’t believe it, it’s inconsistent with your ridiculous position that you can’t loose by buying RE in Vancouver. We’ll, I’m sorry to confirm that it is real! And there are lots of houses available for 1500 to 2000/month in Dunbar – go look for your self – you don’t need me to confirm it. Have a nice lunch.

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Supraboy just got his ass handed to him.

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Don’t tell my landlord! He just rented me a really nice house in Dunbar for $1500 per month. The only catch is that all utilities are included (yes INCLUDED).

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“Asian markets are recovering. Go to China and see what’s going on there.

You sound like some fool living in a basement. Houses in the West side are renting for more than $4000 a month. GO find yourself a 50×130 lot size in the West side and see how much it costs to rent, you’ll be lucky to find one for under $4000 a month.”

You know, ad hominem attacks are the reserve of those who have no reasonable, or logical, argument.

As for your contention that you “be lucky to find a house to rent on the West Side for less than $4000/month, it took exactly 35 seconds to find this:

http://vancouver.en.craigslist.....06634.html

A five-bedroom, 3 bathroom (and 2 kitchen!) “spacious home” in Shaughnessy for 3200, which I’m sure the landlord would be happy to rent for 3000 or less. Doesn’t it suck, Supraboy, when facts get in the way of a good ad hominem rant?

“It’s good that rents and real estate has been jacked up to all time highs in Vancouver…”

This assertion of yours is simply not true. Nominal asking rents are well off their highs of last year and real rents are definitely down. Once again, those facts are inconvenient things, aren’t they?

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Where are the foreclosures in BC you say?

Here you go:

http://www.cbc.ca/canada/briti.....sures.html

Needless to say, if you had half a brain, you’d realize that Canada’s housing market has lagged the US model for about 2-3 years. Whatever happens down here, will happen over there. It’s already starting to happen…but it’ll get progressively worse. I don’t expect you to understand that because you’ve already demonstrated that your depth of knowledge and understanding is lower than that of a Nat.

What does the government in Canada do to try and battle this? They increase your mortgage span to over 35-40 years…what a wonderful solution.

Stop smoking the pipe….

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What will happen to CDN rates under this scenario? Hmmmm? Elephants in the bathroom for CDN policy makers.

The following by Jim Sinclair

”
Today’s incoming emails exceeded the 1200 mark, a great degree of which are asking me what is the motivation behind a countdown of days for the USDX.

There are various answers to this question of which TA is the least important.

The primary reason for this “out on the limb statement” is that the recent China/US financial Summit meeting in Washington which was requested by China, was not significantly pre-planned.

As I understand it there are two things wanted and one thing disapproved of.

The US financial leadership wants, but more so needs, Chinese buying of US Treasury offerings to remain at these levels but more so to increase to offset the wholly unavoidable increase in offering of US Federal Debt.

The Chinese wish to see the USA support the creation of a Super Sovereign Currency as an offset to dependence on the dollar for international settlements and national reserves.

The Chinese rightly feel that the greatest risk to their present dollar position’s valuation is quantitative easing. or simply put, the monetization of one’s own debt by the electronic creation of money for funding yourself.

I am informed that Chinese interests want to see both in 2009.

You will note that the QE program was extended until October, particularly the end of October. This is what Bernanke would like to see, hoping the Management of Perspective Economics will succeed. The Chairman as the academic he is really believes it is possible.

As market related, I know MOPE works only when it has the wind at its back such as from 1981 until 2001. After that it loses it strength until it evaporates into reality and the law of economics such as now.

Quantitative easing cannot be curtailed in 2009 or 2010. To curtail QE as the US Federal Deficit explodes would be to release interest rates to the marketplace that could easily take them to late 1979 early 1980s levels due to a currency event.

The USA cannot support a Super Sovereign Currency. To do so would be to disavow the US dollar as the universal reserve currency which the financial leadership of the USA still adheres to, seeing this period as only an aberration in the constant.

The USA, due to market considerations, cannot yield to Asia and China as spokesperson for the BRIC on the two criteria required to remain as purchasers of the US Treasury instruments, which is the only real support the dollar presently has.

I have given you two tools for timing as well as other resources like Martin Armstrong who was at one time nearly unknown in our crowd.

Tools of timing, some I have not shared with you, indicate a major potential turning point that could easily see a break below .7600 or .7200 coming in the final quarter of this year.

Add this all together and you get a November bull’s eye for a loss of confidence in the US dollar internally as well as externally. That will end the misguided belief that MOPE, via its tool SPIN, defeats economic law.

Van Mises, Ricardo and Adam Smith have not been laid to rest by market manipulation. The wind is in the face of business now as a long-term trend. We are returning to basics and moving away from the fancy, complex and fraudulent.

All of this could have been fixed prior to the event of Lehman declaring bankruptcy. Now there are no PRACTICAL SOLUTIONS and NO PRACTICAL EXITS FROM CONSTANT QE.

Pandora’s Box is open, only to be closed by markets as the downward spiral goes to its practical end, a return to commodity money.

We, here, will be proven correct in time and in price.

Respectfully yours,
Jim

Let the fools be foolish. It would seem there are plenty of troglodyte megalomanics to go around.

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I hit the nerve didn’t I….LOL.

I’m not going to give a big thumbs up to the economy just because people are flooding the malls. Down here in Los Angeles, people are driving around in leased Beemers and Benzes and Lexuses all over the place….you see how malls flooded with people here too…

This is the place where unemployment is at 12%, the number of foreclosures is second to none, repossessions of cars is skyrocketing, people are in debt up to their scalps.

Nothing you say is different there than it is here…we have rich Koreans, rich Chinese, rich Indians, rich Americans, etc…tell me something I already don’t know…and STILL people are losing their homes left and right.

Go sell your bullshit to some schmuck who actually buys in to your drivel.

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Everyday when I watch CNBC, those idiot analysts are predicting a crash. Isn’t it too bad they pissed their pants when the Dow Jones was at 7000? I’ll start shorting the markets when the lemmings get sucked into a head fake rally. As for now, LONG OIL!

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Have you checked real estate listings lately? Where are the foreclosures? You, just like the other bears here were screaming foreclosures and crash since 2 years ago till now. How much longer are you going to wait until you jump in?
Asian markets are recovering. Go to China and see what’s going on there.

You sound like some fool living in a basement. Houses in the West side are renting for more than $4000 a month. GO find yourself a 50×130 lot size in the West side and see how much it costs to rent, you’ll be lucky to find one for under $4000 a month.

Current score: -14 (to vote for this comment, please visit the site)

http://www.telegraph.co.uk/fin.....rkets.html

Some snippets:

…Britain’s Uber-bear is growling again. After predicting a torrid “relief rally” over the early summer, Bob Janjuah at Royal Bank of Scotland is advising clients to take profits in global equity and commodity markets and prepare for another storm as winter nears.

“We are now in the middle of a parabolic spike up,” he said in his latest confidential note to clients. “I expect this risk rally to continue into – and maybe through – a large part of August. What happens after that? The next ugly leg of the bear market begins as we get into the July through September ‘tipping zone’, driven by the failure of the data to validate the V (shaped recovery) that is now fully priced into markets…”

…He expects global stock markets to test their March lows, and probably worse. The slide could last three months. “A move to new lows is highly likely,” he said.

Mr Janjuah, RBS’s chief credit strategist, has a loyal following in the City. He was one of the very few analysts to speak out early about the dangerous excesses of the credit bubble. He then made waves in the summer of 2008 by issuing a global crash alert, giving warning that a “very nasty period is soon to be upon us” as – indeed it was. Lehman Brothers and AIG imploded weeks later.

This time he expects the S&P 500 index of US equities to reach the “mid 500s”, almost halving from current levels near 1000. Such a fall would take London’s FTSE 100 to around 2,500. The iTraxx Crossover index measuring spreads on low-grade European debt will double to 1250…

…While media headlines have played up the short-term bounce of corporate earnings, Mr Janjuah said this is a statistical illusion. Profits were in reality down 20pc in the second quarter from the year before. They cannot rise much as the West slowly purges debt and adjusts to record over-capacity. “Investors are again being sucked back into the game where ‘markets make opinions’, where ‘excess liquidity’ is the driving investment rationale…

…The elephant in the room is the spiralling public debt as private losses are shifted on to the taxpayer, especially in Britain and America. “Ask yourself this: who bails out Government after they have bailed out everyone?”

Mr Janjuah said governments might put off the day of reckoning into the middle of next year if they resort to another shot of stimulus, but that would store yet further problems. “If what I fear plays out then I will have to concede that the lunatics who ran the asylum pretty much into the ground last year are back in control…”

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Bring on the clowns…..

As for the big spenders….all plastic.

I couldn’t agree with you more.

I posted on another BC realtor’s site…BEST REAL ESTATE ANYWHERE by Rob Chipman…that Canadians are becoming just like Americans…or trying to be…particularly in the RE markets…it’s a copy of what’s going on down here in Los Angeles…

You should have seen the reaction from a few idiots there. They were horrified and seriously offended that I compare Canadians to Americans. They started calling me a typical American…nevermind that I can’t stand being the US. They claim I typified an ignorant American who knows nothing and is a snob, etc…funny as hell shit.

I like Canada…I’d not mind living there…but one thing I’m noticing is Canadians can be extremely arrogant and full of themselves. The idiots on the other site forgot that Canada is made up of the two most arrogant cultures in the world…the French and the British. How ironic for them to call me arrogant.

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Post 10, I already have 2 houses you moron. Doesn’t it suck when I have 2 million dollar homes and I paid less than half for it 5 years ago?
It is such a joke that people are trying to rent their crap condos for $400 a night. That I have to agree with. I am currently renting one of my houses for $4000 a month and I am planning to kick them out so I can rent it for $4000 a night during the olympics.
if you don’t like the high prices here in Vancouver, get out of here and move to Ontario. Go join the unemployed and weep about life there, you might feel better.

What moron would actually rent from an idiot like you for $4K a month? Second, this is the internet…I’m sure you own two properties…we all do.

Third, BC is no different than anywhere else on this planet…you have the same issues economically as anyone else…it goes up and comes down.

Tell us…where do all these people in BC get their money from to “rent out” $4K homes and million dollar places when on average, BC residents make 30% less than people living in Los Angeles, pay more taxes, and have less jobs?

If you can answer that, then you can keep bullshitting…until then…you sound like a complete douche.

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Post number one is a fact, and you people voted it down.

How is it a fact? What are you basing it on? One month of increases? With the same token, a 51% increase in bankruptcies in Canada could mean you’re in deep shit…so which is?

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You think Canada’s economy isn’t tied to your neighbor down south?

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Buying an equally priced condo is like winning the lottery and then spending all your winnings on more lottery tickets.

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The “truth” (in either the form of statistics and anecdotes) is not listed in the Thesaurus next to ” race -baiting “.

Race – baitng is for West Van NDP supporters.

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“I was happy for my neighbour,retired, (even though they bought an $800,000 condo that wasn’t finished till a couple of months ago.) In my view, in the end it was a wash for them….they broke even, as they were caught up in the same overheated market now as buyers.”

Wow, I just shake my head when I hear things like this. They could probably rent that same place for about 2000/month, which is 24000 annually, buy a whole lot of nice furnitue, a new car, and go on an extended vacation and still come back to most of that nest-egg intact.

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On a more upbeat note, Roubini on Canada and the recession:
http://www.forbes.com/2009/08/.....ubini.html

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This is a TRUE story:

One of my neighbours had tried for years to sell his home on and off ( built in late 1970′s ). Last year he put up a For Sale sign. It sold in 2 days.

Background.
His immediate neighbours were Asians that sold to other Asians. These new owners began to add on all sort of illegal additions to the house.(ie turn a front porch into an enclosed room ).

I know it had no permit based on such things as no header (ie 2X8 or 2 X 10 ) over the new window, simply a 2 X 4 as a header on the flat.(YIKES !) I was not going to rat them out,none of my business,….. but was surprised they weren’t caught, given a condo project was being built across the street which of course would be visited by building inspectors who should have noted code violations.

What I noticed as well was that these Asian neighbours seem to be involved in some sort of import business…as are many other Asian owners. One often sees 20 ft and 40 ft containers in driveways full of boxes being unloaded, like the house is being used for a warehouse.

Anyway..my caucasin neighbours wife said, “lets ask our new neighbours if they are interetested in buying our house”. They knocked on the door, and the interest was immediate. My neighbours wanted about $840,000 (which IMHO was really overpriced) yet they all haggled down to $800,000 in a very short negotiation , closed in 3 months .

The Asians had no clue as to assessed or current market value, they simply assumed itwas a fair price and threw money around. This all occurred in Spring 2008, before the RE meltdown. My guess is the Asians overpayed by $100,000 -$150,000 based on comparable sales. Or my neighbour got lucky fishing and the only fish out there was his immediate neighbour. What are the odds?

My caucasian neighbour had not one other offer, and their realtor was quite honest and stated she shouldn’t even have collected a commission, given her clients, the owners had done the work.

I was happy for my neighbour,retired, (even though they bought an $800,000 condo that wasn’t finished till a couple of months ago.) In my view, in the end it was a wash for them….they broke even, as they were caught up in the same overheated market now as buyers.

However, this anecdote simply confirms my suspicions of unsophisiticated buyers throwing money around without doing their homework. This simply makes it worse for the rest of us…they don’t see the intricacy of the spider web like connections that come back to haunt us all.

(BTW BC Assessment will not use these anomalies and not apply these as comparables).

ALSO: We had a house a few doors down that was about a 70 year old run down rancher that got flipped 3 times in a year where the price doubled…we neighbours couldn’t figure it out….we felt it was a laundering scheme, given each new owner appeared to be a 20 something Indo Canadian in a BMW or other higher end vehicle..

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http://english.cri.cn/6909/200.....508714.htm

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