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Friday Free-for-all!

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136 Comments

It may be raining, but at least it’s the weekend!  Let’s do our regular end of the week news roundup and discussion.  Here are a few stories I’ve noticed lately:

–City council endorses lots of little condos with very little green space.
–Are you ready for higher mortgage rates?
–Put on your chicken suit and let’s have a party!
–The lifecycle of a bubble (graph)
–BC to jack up threshold on new house HST
–Playing the international real estate market
–US housing crisis hits new level

So what are you seeing out there? Post you news links, thoughts and anecdotes here and have an excellent weekend!

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Boombust

Buh bye!

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scullboy

Wow Supraboy, you really are an odd little fucker. Wealth is money in the bank and investments that are paying you dividends dude. Most of the BMWs, mercedes and whatever are leased by trashy RIchmond kids who want to appear wealthy. You and your cheezy little banana buddies worship the appearance of wealth and desperately try to pretend you are high rollers, even if it means living in Mummy and Daddy's basement. Christ I'm glad to be out of here and away from cheezy, Ed Hardy wearing, BMW leasing, poo flavored Dim sum eating Richmond trash. Why the hell would I be jealous? Dude you're not getting it, are you? I come from a wealthy family. I don't particularly feel the need to prove that in any way shape or form, but it's true nonetheless. Oh, why am I bothering?… Read more »

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socialismworks

Millions of poles, yugoslavians, hugarians, russians, chinese, germans, cubans and north koreans know that socialism is the only path to success. That is why Canada and specifically Vancouver will always be the best place on earth people. If you look at every socialist nation you will see that real estate prices only ever go up in socialist countries. So if you are a real estate bear (capitalist pig) you'll need to move to the US. Meanwhile us socialist bulls will stay here and enjoy the workers paradise.

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Supraboys helper

@scullboy:

Finally you're leaving. It's about time. Hopefully, we've heard the last of you. Spew all the nonsense you want, you're officially out of here. Vancouver is better off without a cry baby jealous loser like you.

Brag all you want about Halifax, we know it's a shit town. Once your honeymoon is over with Halifax, you'll be bitching like a mofo about anything you can bitch about including the ugly hookers working at the nearest trailer park bar. People like you will never find happiness. It's all about being jealous. Instead of being jealous about the nearest Benz blasting down Robson, perhaps you should look yourself in the mirror in Halifax and ask yourself why you're a poor phuck and why others can be smart enough to accumulate wealth.

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arit

And I posted it at Garth's as well, just to be absolutely sure everybody sees it!

Cheers!

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arit

Stanislav Excellent link, I allowed myself to post this remarkable list of SUCKERS: Harper Grey LLP represents individuals and groups of pre-sale purchasers who signed contracts for major lower mainland condo projects including: 33 Pender – Vancouver Aria 2 – Port Moody Aura Townhomes – Surrey Axis – Burnaby Cosmo – Vancouver Donovan – Vancouver Espana – Vancouver Esprit 2 – Burnaby Fairmont Pacific Rim – Vancouver First on First – Vancouver Fitzsimmons Walk – Whistler Ginger – Vancouver H & H – Vancouver INvue – Kelowna Mariner – Vancouver Millennium Waters – Vancouver Patina – Vancouver Quattro – Surrey Silhouette – Burnaby Sophia – Vancouver Tangiers Townhouses – Revelstoke The Breeze at Airdrie – Calgary The Exchange – Vancouver Three Harbour Green – Vancouver TV Towers – Vancouver Watermark – South Surrey Watermark Beach Resort – Osoyoos Westwood Village… Read more »

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Stanislav

Hot market is not what is seems. See this Vancouver law firm's website to get an idea of the extent of presale litigation. It will get bigger in the 2010

http://www.harpergrey.com/services-area-condo-pre…

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Boombust

"Quebec for example has had stable prices" -Drachen

People in Quebec tend to rent more than own…would that explain the difference?

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what a joke

update: a recent first time buyer who came here on a tourist visa, said CRA refunded him PTT even though he is a non-citizen, non-permanent resident of Canada.

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Drachen

@jesse:

"If CMHC was the major culprit for high prices, why did the market fall off a cliff through 2008 and into 2009?"

The CMHC has been a major factor (I believe) in the making of the bubble, that does not mean it can indefinitely prevent the collapse, nor does it mean that CMHC insured mortgages ALONE are responsible for the bubble (this should be obvious as they've been available to the rest of Canada for as long as they've been available here and we clearly have a different scale of bubble from the rest of Canada, Quebec for example has had stable prices while English Canada has gone nuts.)

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arit

scullboy

I'll be at the airport tonight, what time is your flight?

arit

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Arwen

For those with weather interests (further to Jimbosan's post), here's a few handy charts on Vancouver vs. the Canadian average on a month by month basis, which makes a closer comparison to how we're actually living: http://www.citystats.ca/city/British-Columbia/Van… Vancouver is dry in the summer and wet in the winter. The weather can't really be summed up in yearly terms for me, at least. I came back after years in Ontario's snow belt: the comparative brightness of reflected snow meant I never experienced the late January/early February blues in Ontario that I get here (though the addition of a D supplement has made a world of difference.) I love Vancouver for a number of things, including the greenery, my friends and family, and the transit system: but I would happily return to Ontario *weather*. Oh, and architecture. Essentially, those elements of a… Read more »

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Anonymous

he can't, hence BS sensor continues to go bing bing!

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Anonymous

supraboy how can you be in bangkok and richmond at the same time?

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jesse

@Drachen:

In fact this market has been on a path that doesn’t reflect market fundamentals since the CMHC has been offering mortgage insurance

If CMHC was the major culprit for high prices, why did the market fall off a cliff through 2008 and into 2009? CMHC insurance cannot solve the affordability problem, only lower interest rates or lower prices can do that and the lower interest rates tank is empty.

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vreaa

Aforementioned Vancouver Sun article is remarkable for its caution. I have archived it at VREAA as a post labelled “I read a realistic and balanced RE article in the Vancouver Sun” and taken the liberty of adding some comment. excerpts: “In B.C., which has the highest prices and biggest mortgages, buyers seem more confident than other Canadians that prices will continue to rise. Even if they are right it would be prudent to remain cautious.” “Low interest rates have been a godsend for mortgage borrowers, and a curse for savers…. But interest rates can change in the blink of an eye.” “Financial advisers warn that real estate valuations can go down, as well as up, and people should diversify their investment portfolios, especially in retirement when a house should represent no more than 25 per cent to 33 per cent… Read more »

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scullboys helper

I'll see you at the airport tonight supraboy.

You're the janitor in the departure washroom right?

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trackback

[…] records for efficiency of story telling on VREAA. Please send your own observations. Here’s Real Life at vancouvercondo.info 21 Nov 10:43 am […]

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Anonymous

@other ted:

Unfortunately you're right: democracy was discarded as absolutely inefficient in ancient Rome already. Inefficient unless you're using special means to manipulate the populace. Then it works … but not for populace. Then it appears government and government "friends" who benefit from this friendship. Eventually democracy leads to socialism. That's what going on in Canada and especially in the States. The target is to make everybody happy. But you understand who will pay for this "happiness", right?

Back to the blog's direction. We definitely need our Canadian Peter Schiff. Even if we know that for sure Vancouver housing bubble will bust, we need a person who will tell the truth, who has guts and clear understanding of what's going on in the country and more important where we're going.

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scullboy

Why doesn't it surprise me that Supra is in Bangkok. How's that lucrative ladyboy career working out for you dude? Dude, I've got quite a few gay buddies, being gay myself. I'm as surprised as anyone else that I have a fan but hey….. G'bye Supratard. I'll be thinking of you when I'm eating lobster at some…. what was it? "Multicultural restaurant?" No rat-poo H1N1 infested Richmond dum sum for me buddy. I'm not that worried about about the food but that's mainly because I'm a trained chef. Although the seafood here is good, some of the best seafood in the world (Malapeque oysters, anyone?) is found in Atlantic Canada. Even better then the food, I can buy myself a decent home. It isn't the city you live in, it's the life you make for yourself that counts. Everyone's experience… Read more »

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Supraboys helper

@scullboys helper:

Supraboy chill out Scullboy's goal is to upset you. That’s what trolls do.

If you ignore it you won’t give it the satisfaction and it will go away.

I saw Scullboy last night and I kicked his ass, he grabbed his balls in tears. He just likes to get a rise out of people because his life is pathetic, he’s never kissed a girl, never lived on his own, most likely has a really low level tech support job, no assets, and lives in a basement suite WITH his domineering parents.

Treat it like you would the bible thumpers that approach you on the street or the jehovahs that knock on your door, keep walking don’t take the bait.

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Supraboy

@scullboys helper: You're probably using a different nickname talking to yourself, either that or you're his gay buddy. Why don't you just pack it in and move to Halifax with Scumboy. How did you kick my ass? My ass is still in one piece, no bumps or bruises. You probably kicked your dad because he asked you to pay the utility bills and you were busy jacking off on gay porns. So Scullboy is leaving on Monday, good riddance. I'll go to the airport and say Sayonara. What's your flight number? How does it feel to get exposed? You know I figured your attitude out. Must suck doesn't it. People like you will always be jealous of the rich, face it, they found a way to make money and you sat there on your thumbs. Wait till you find out… Read more »

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Drachen

@Im_a_retard: "I’m also a bear for the last 3 years. What am I going to do, pretend that the world is falling around me when it obviously isn’t? Pretend that I’m some evil genius that has it figured out? I’ve been WRONG and I’m trying to understand why." Well first off you weren't wrong (but I see you've hedged your bets and changed your right answer to the wrong one). Just because the market hasn't fallen does not mean it's fundamentally sound. Many many times in the past people have predicted doom and gloom for a bubble market and endured years of mocking until the market finally falls, it's as normal a part of the cycle as the bulls claiming "It's different this time/here." In fact this market has been on a path that doesn't reflect market fundamentals since the… Read more »

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Dave

@Vomitron:

You wouldn't last a week under the prior model.

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tincup

@Jimbosan:

Jimbosan, thanks for the climate info. I was looking that up myself just recently. The one thing that I miss in the data would an indication of hours of rain. It would be possible that two places have the same total amount of rain, but one gets it in large, short bursts and the other gets it in never-ending weeks of drizzle. I don't think that data is readily available (although I know it is collected). It would be interesting to see how Vancouver compares on that score, and see if that is what contributes to the perception of the weather here.

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