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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? You just aren’t smart enough to get it and you never will.

Thank you Supraboy, you make leaving Vancouver behind so much easier. I’ll miss the mountains and Stanley Park but I really won’t miss the people.

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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.

Current score: -6 (to vote for this comment, please visit the site)

Cheers!

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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 Edgemont – Coquitlam
Whitetale Lane – Coquitlam
Woodwards District – Vancouver

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http://www.harpergrey.com/serv.....putes.html

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

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

arit

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http://www.citystats.ca/city/B.....ml#climate

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 geography are subjective, of course.

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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.

Current score: 5 (to vote for this comment, please visit the site)

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 of total wealth.”

“Would-be buyers should enter the market with eyes wide open and view their purchase first as a place to live, and only second as a store of wealth.”

——–

VREAA editorial comment -

1. What percentage of Vancouver owners are on target to have their house represent no more than 33% of their total net wealth by retirement? Answer: Very few. Currently, for many owners, their home value represents greater than 100% of their net worth in that the outstanding mortgage is larger than their other savings and investments. And rising RE prices have further decreased the sense of need to build savings outside of RE equity.

2. What percentage of Vancouver owners currently view their homes ‘first as a place to live, and only second as a store of wealth’? Answer: Very, very few.

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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 is different of course but I find Vancouver overpriced. It’s a pretty town but not as laid-back as you’d think, and infested with poo flavoured dim sum eating Donald trump wannabees like Supra.

I’m glad to leave them on this coast.

As for the rest of you: Best of luck

Current score: 8 (to vote for this comment, please visit the site)

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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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 that the harmonized tax in Nova Scotia is higher than BC, you’ll be bitching at something else over there like a street corner bum by GM Place.

Better find out about their HST:
The Harmonized Sales Tax (HST) is administered by the federal government and applies to all goods and services with some exceptions. It combines the federal Goods and Services Tax (GST) of 5 per cent and Nova Scotia’s value-added tax of 8 per cent.

Go to bitch there, you fool.

Current score: -13 (to vote for this comment, please visit the site)

“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 CMHC has been offering mortgage insurance and I believe the only way to return to a stable real-estate market is to abolish the CMHC or at least remove their insurance mandate. If you look at the historic prices of real estate in Canada you can easily tell the time before and after CMHC intervention by the volatility of the markets. The reason things haven’t fallen yet in spite of a truly ridiculous number of factors indicating a crash is simply further CMHC intervention, adjusting their minimums to 5-35 and the Cons increasing the insurance cap from 350 Bn. to 600 Bn. over two years (the explosion in CMHC insured properties during the bubble ALONE should be enough link to show how the two are intertwined).

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

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