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January 30th, 2010 at 12:24 am
“More peoples are coming to take commands at the head offices”
———
And which head offices would they be? Well?
Thought not…
January 30th, 2010 at 12:23 am
cun(t)sumer, eh?
January 30th, 2010 at 12:06 am
@blueskies: Just to be honest I think Muir is looking for more listings to serve his field otherwise Interest rates will only go up maximum 5.25% with improving economy and increasing cunsumer confidence.In the said situation buyers are willing to pay increase rates in hope to recieve better return.Income most likely to increase with improved economy,Job prospectus will increase to bring down unemployment numbers.Future affordability issue is not a threat as oil prices are not even halfway.While usa $ is gaining it’s strength back Canadian $ will go down towards 77 cents to increase export level.BHP Billiton Diamonds buys Anglo Potash,BHP Billiton buys Athabasca Potash,China’s CNPC buys Canadian oil firm: company,Korea National Oil Corp buys Canadian oil company.World is looking at Canadian natural resource,Economy boom has begun to assist further housing boom.More peoples are coming to take commands at the head offices they also need a place to live and they also need revenue property to rent it out in Vancouver,high definition city of this world.
January 29th, 2010 at 11:03 pm
@Marc le Narc:
I think that might actually be just this side of legal, it’s parody being used for comedic value so they can use the logo.
January 29th, 2010 at 9:28 pm
@logic:
Sorry, I never meant or mean to ignore anyone, I sometimes just fall asleep and call it a night after 9pm.
For the purpose of full disclosure, I’m not a dope dealer nor am I an expert qualified to give an explanation to your question. But… I’ll give it a shot.
Just like the N.American companies took 30 years to set up their sweat shops in China to make it now one of 2 biggest manufacturing base and all the while hypocritically telling its citizens hat they were fighting the nasty COMMIES; the exponential explosion of the drug industry in BC (Vancouver being the Heroin port of N.A) has been happening in the last 10-12yrs. Just look at the stats y-o-y for violent crimes in the GVRD and Abbotsford. There is a lag effect before these crime syndicates start using all establishments for the purpose of money laundering. They’re not contained to only strip-joints,casinos,wreckers,etc… They got a whole lot smarter and went on to clean their image as legitimate business people. Money-Marts, big townhouse projects such a the one seized in Richmond (Clarence Lowe applicant and subsequently busted in Winnipeg with 10kg cocaine) amongst other Surrey projects.
And that’s just the tip o the iceberg.
My suggestion is vote for Bagliatti as we obviously know his agenda is to de-criminalize drugs. If anyone has ever watched THE WIRE and listened to the creator’s interview on Bill Moyer, you’ll quickly understand where the real problem lies in our society.
January 29th, 2010 at 8:51 pm
43 – Jonny
I asked before, and I’ll ask againas you ignored me –
So there was no dope industry in BC before 2003 ish? This is a new thing? If not, then why only since 2003?
January 29th, 2010 at 8:48 pm
The global economy isn’t going back to that trend line. Over the next decade or more, industry after industry isn’t going to gracefully absorb that temporary extra capacity. Instead, the global economy is in for a decade or more of tooth-and-claw fights for market share, bloody consolidation as industries are forced to radically shrink capacity, and an increasing number of the walking dead that are kept alive only by large infusions of capital from national governments.
What if consumer demand is dead?
January 29th, 2010 at 8:02 pm
@Drachen:
‘No offence meant to the Chinese readers out there but I think it’s in large part due to the size of the Chinese population in Vancouver that the bubble has been so crazy here. There is a very important role for gambling in Chinese culture and I think it plays out in investment markets too.’
Thank you Drachen! And this goes for Patriotz too. (I think)
But you seem to finally see the light and what I had listed in yesterday’s conversation. Just don’t forget the DOPE! It;s also a big part of the equation.
I don’t have a source on this (I know, I know…most of you will attack me and ask me shoo away because I can’t find it) but it happened in about 2004 and I owned my home back then near No.4 RD & Williams. Well, if anyone here on this blog can remember or have been out of their diapers at least for the last 6 years, do you remeber the Chinese realtor that owned the ‘for sale’ property on No5 RD north of Williams?
ALBERT LUK was his name (Century 21), and I got the hell out of Richmond when that F@%! head was using properties 3 or 4,to stash enough chemical compounds for Crystal Meth to blow up the entire block according to the RCMP!
So Drachen, do you really have that much conscience on your mind about using the bank’s money to help you get ahead, and stiff them if they turn around and try to stiff you?
Btw, my suggestion previously is NOT illegal. And yes we will be like California with the banks scrambling for Gov’t bailouts if they let this bubble blow up. The banks will never be able to knock at your door if over $50Billion of loans go into default.
I once heard an old saying, If you owe $1M to the bank that’s your problem. If you owe $100M to the bank, that’s their problem. This CMHC gamble by Harper the Dictator is going to be a CDN Gov’t problem if they can’t manage it. Go with the flow.
January 29th, 2010 at 7:53 pm
This one is kinda cute…
http://malor.files.wordpress.c.....rotest.jpg
January 29th, 2010 at 7:45 pm
@Marc le Narc:
You’re right because they’re using official logos and making a profit off them.
My suggestion would be a t-shirt that says “I VOTED NO”, with 5 interlinked swastikas below the slogan.
VANOC fascist wouldn’t be able to touch that in a court of law.
January 29th, 2010 at 7:40 pm
How long till the wintergames attack lawyers shut this one down?
http://www.bustedtees.com/winterolympics
January 29th, 2010 at 6:50 pm
The most overheard phrase in Vancouver in 2010 will be:
“I sell 3, my husband sell 3″.
Quote applies to Shanghai as well.
~bestplaceonmeth – proud unofficial sponsor of the 2010 Winter Hellympics~
January 29th, 2010 at 6:45 pm
@domus (quoting G&M):
Of course that’s not true, anyone can get them from the land titles, as you can see from the G&M article in my second post. Seems like their reporters need to keep in touch better.
But only the REB has the listing history. Now it would not be too hard to design a bot which would read the website and store the information, but they’d go after you if you tried to release it publicly.
Not that I give a hoot about the listing history, it means nothing in economic terms.
January 29th, 2010 at 6:43 pm
Another example of the bullshit media spin? You decide.
The US channel KING reported today that a homeless protest occurred in Vancouver today, nothing on the local news.
King said that there are 7000 people estimated sleeping outdoors in Vancouver that does not include the 6000 that are in the shelters.
They were also warning Americans about the plethora of ticket scams coming out of vancshithouse.
Again, just cheerleading from the local sluts. Idon’t think the American reporters are coming here to deface Vancshitholes reputation in some kind of malicious attack. The truth is going to get out and the Olympics will generate a whole lot more bad publicity which will be longer lasting that the two week whore fest.
January 29th, 2010 at 6:27 pm
34, who are you? Why do you sign with my alias?
For the record, number 34 is NOT the original domus!
January 29th, 2010 at 6:19 pm
Interesting piece on the G&M
Battle to unlock the housing market
http://www.theglobeandmail.com.....le1450088/
In 2009, 465,251 homes changed hands on the Realtor.ca system, at an average price of $320,333. Owned by the Canadian Real Estate Association, the database amasses listings from Canada’s 101 local real estate boards. Only registered real estate professionals can obtain key data such as selling prices, and only they may use the site to connect buyers and sellers.
CREA tightened its access policy in 2007, after rival real estate websites such as Toronto-based Housing123.com emerged. The interlopers downloaded data from MLS and enhanced it to draw consumers to their own services.
January 29th, 2010 at 6:08 pm
Have you read The Yellow River, by I. P. Frehley?
January 29th, 2010 at 5:37 pm
from the Van Sun !?!
B.C. real estate 2009 bounce-back to taper off this year, 2011
The mortgage-rate fuelled bounce-back of British Columbia real estate in 2009 has probably used up most of the market’s growth for 2010 and 2011, according to a new estimate from the B.C. Real Estate Association.
http://tinyurl.com/yeacxue
January 29th, 2010 at 3:00 pm
I like Brian Fawcett and Mark Kingwell.
A shot bit Fawcett did recently on the games.
http://www.dooneyscafe.com/archives/1762
January 29th, 2010 at 2:52 pm
@oneangryslav2:
You have to read Mordechai Richler. The film version of “The Apprenticeship of Duddy Kravitz” is also very good, starring a young Richard Dreyfuss.
January 29th, 2010 at 2:42 pm
Come to think of it, Atwood’s Penelopiad and her Massey Hall lectures on debt and indebtedness are also great.
January 29th, 2010 at 2:41 pm
@slav:
Alice Munroe, Anne Marie Macdonald (esp. Fall on your Knees), The Gargoyle (can’t recall the author’s name right now), Margret Atwood’s Oryx and Crake (but it’ll make you anxious and give you nightmares), Alistair MacLeod’s “The Lost Salt Gift of Blood” and “No Great Mischief” .
Anne Marie macdonald and Alistair MacLeod *really* capture the atmosphere in the Maritimes, it’s like visiting without having to travel.
January 29th, 2010 at 2:14 pm
@FORREST:
About Spain – in case any of you’ve never left Vancouver – this is the kind of real estate you can buy in Spain these days – a 2000sqft “townhome” on the island of Mallorca for under a million…. I’m sorry, but how can this possibly compare to the shitty teardowns in east van???? You tell me.
This is the first hit after googling on the subject – go see it, it will make you start doubting the “best place on earth” bullshit, that’s for sure.
Here’s the link: http://www.kuhn-partner.com//i.....ce=1901093
January 29th, 2010 at 2:09 pm
#26 OAS
Lots of unsung heroes on the list. I’m partial to lierature. Try Margaret Atwood or Micheal Ondaatje
http://en.wikipedia.org/wiki/L.....an_writers
January 29th, 2010 at 1:26 pm
@realpaul: Thanks for pointing that out. I’ve not read nearly enough Canadian authors. Does anyone have a recommendation?
Thanks.
January 29th, 2010 at 1:00 pm
#19 Uninformed10. The ‘world needs more canada’ campaign ad is a Chapters Books promotion . The signal that the ad sits atop ‘THE BOOKSTORE’ might be a clue. I would urge everyone to get inside the store and support CDN authors.
January 29th, 2010 at 12:39 pm
Spain: 18.8% jobless (40% for young people).Most of these job losses are in construction. They had a real estate bubble.
We are different here, right?
January 29th, 2010 at 12:27 pm
Harper urges World Economic Forum to follow Canada upto best planet place.
January 29th, 2010 at 12:23 pm
@logic: I was just testing if bitch is still around us.
January 29th, 2010 at 12:21 pm
@white payer:
But shelter is. That’s the whole point.
http://cuer.sauder.ubc.ca/cma/.....couver.pdf
January 29th, 2010 at 12:07 pm
19 – is the Advert really that grammatically incorrect, or are you butchering it like you butcher the rest of our language?
January 29th, 2010 at 11:45 am
“WORLD NEED MORE OF CANADA”.-AD @HOWE&ROBSON VANCOUVER
January 29th, 2010 at 11:42 am
Housing isn’t cheap theses days. I can live with that. Owning your own home being a priviledge and all that crap.
What I cannot live with is the fact that we are in CANADA here, not some independent banana republic. And yet it seems like we are detached from the rest of the country indeed, for whatever reason.
Just think about it – an average Joe in Ottawa for example, on an average salary (that is in fact the same or perhaps higher than here) can buy a great house for $250,000 at an introductory rate of 2% right now… and they’re afraid it might be a bubble ?!!… So WTF does that make of what’s happening here???
January 29th, 2010 at 11:42 am
“CANADA’S ECONOMY PICKS UP SPEED IN NOVEMBER”.- STATISTIC CANADA.
January 29th, 2010 at 11:33 am
@patriotz:
And what’s the point of looking at these numbers? To show that they are overextended? If so, you can’t do that unless you look at their entire financial picture. What other assets do they have? Having a high mortgage on that home may be completely rationale for their particular financial situation.
January 29th, 2010 at 11:32 am
#13 S889 China is not the only place that the free money campaign has caused these bubblicious conditions. Chinese populations do have a unique ‘wildfire’ mentality for jumping on any passing wagons though. Nothing wrong with that. That history of the general Asian economies is a series of very sharp booms and busts. It is reminicsent of the western ecomies prior to central bank regulation where ‘smoothing techniques’ have been implemented.
The free money policy around the world is now officially recognized as dangerous setting economies around the world up for another fall. Garth Turner is not the only observer who is pointing out the obvious consequences of a tax shift to national debt without having let market forces restabilize the basis of the economy.
http://online.wsj.com/article/.....sNewsThird
China pumped trillions into its economy due to its fiscal position in the banking sector not having been as overleveraged at the onset of the recession. However the money in China is spinning in a circle because of the western recession becoming a Chinese bubble.
In a smaller way we have the same problem here in Canada, free money washing the debt plate clean at the same time the general economy is out of detergent. The result being the dishes are still dirty. This is why we have rising unempolyment at a time when real estate values are up. The money is just being churned into the pockets of the people that have it and not to where it needs to go to create real wealth.
Prices in China are skyrocketing as are wages. We are feeling the effects of this inflation here in everything we consume. CPI is tame but this is only due to the massive subsidies the Chinese government is feeding the factories to restart production. The real problem is that those goods are becoming increasingly expensive to produce and we will import that inflation.
Our food and energy cost have been screaming up for several years. The phony obfuscation about ‘the price of oil’ has now been laid bare. It is the volume of worthless paper flooding the system that is driving costs up. Anyone on a fixed income is of course totally fucked in this scenario. This why seniors now dominate the food bank lines.
January 29th, 2010 at 11:07 am
Sorry for the double post
January 29th, 2010 at 11:06 am
@Drachen: No offense but totally agree. I’m Chinese and me, my wife, my sister, and my dad all think it’s crazy in China about how much they are paying for housing, and you don’t even own the land or the condo building! All you get is a 70 year lease to use that land! What happens after 70 years? No one really knows and I guess don’t care too much since they will be dead anyways?? One good thing is that mortgage generally runs for 10 to 20 years and government apparently has a law saying your mortgage term can’t extend past your manditory retirement age!
Well the above is based on what I saw in TV series Wou Ju -an extremely popular TV series about corruption, social deterioration, and high housing cost facing young people in China today, got banned by the Chinese government for a while because it hit on all the hot button issues in China today and it’s extremely well written and made that it does not feel fake at all! But almost (if not actually) based on true story. There are more TV series talking about the downside of high housing cost in China now and it is a big issue that even high level government official are now commenting on now.
January 29th, 2010 at 11:06 am
@Drachen: No offense but totally agree. I’m Chinese and me, my wife, my sister, and my dad all think it’s crazy in China about how much they are paying for housing, and you don’t even own the land or the condo building! All you get is a 70 year lease to use that land! What happens after 70 years? No one really knows and I guess don’t care too much since they will be dead anyways?? One good thing is that mortgage generally runs for 10 to 20 years and government apparently has a law saying your mortgage term can’t extend past your manditory retirement age!
Well the above is based on what I saw in TV series Wou Ju -an extremely popular TV series about corruption, social deterioration, and high housing cost facing young people in China today, got banned by the Chinese government for a while because it hit on all the hot button issues in China today and it’s extremely well written and made that it does not feel fake at all! But almost (if not actually) based on true story. There are more TV series talking about the downside of high housing cost in China now and it is a big issue that even high level government official are now commenting on now.
January 29th, 2010 at 11:04 am
@Drachen:
The other large part is the perception among the non-Asian population that the Chinese are capable of maintaining high prices all by themselves, so the non-Asians had better buy too. That was very much the case in the 1980-82 bubble when the Chinese population (in particular the ones with money) was much smaller than today. It wasn’t the Chinese who were pushing up the prices, it was everyone else (who were blaming the Chinese for it).
Every RE bubble market has similar rationalizations. It’s the “rich {insert group here}”, who are driving up prices, not John and Mary next door. When in fact if John and Mary had simply refused to buy, prices could not have gone up so much.
The Marginal Home Buyer
January 29th, 2010 at 10:30 am
@Deng Xiaopeng:
No offence meant to the Chinese readers out there but I think it’s in large part due to the size of the Chinese population in Vancouver that the bubble has been so crazy here. There is a very important role for gambling in Chinese culture and I think it plays out in investment markets too.
Just IMO of course.
January 29th, 2010 at 9:55 am
From the bubble in China article, I love this quote, which could apply here too:
“To buy a place in Shanghai means you are digging a grave for yourself, and burying your love”
January 29th, 2010 at 9:48 am
@rp:
10% down 25 years was the old regulation. Now it’s 5% 35 years, so yeah, we’d be on the hook.
January 29th, 2010 at 8:47 am
Rumour has it that the third office tower in Metrotown has had its financing cut off. First the completion date was moved out to 2012 and now it looks like it may not be completed indefinately.
January 29th, 2010 at 7:57 am
@vreaa (quoting Froogle):
And there’s the delusion in a nutshell. It’s not a windfall until you SELL and the money’s in your pocket.
And it’s not possible for everyone to sell, because there would be nobody to sell to. So collectively, homeowners aren’t better off at all. The gains of the few individuals who do sell are at the expense of the new owners.
January 29th, 2010 at 7:15 am
The second episode of our weekly serialized account of a Vancouver homeowner’s experience of our RE boom has been posted at VREAA:
‘The Froogle Scott Chronicles: Mortgaging Our Souls In Paradise’-
‘Part 2: Up, Up, Up: Winning the Real Estate Lottery’
http://tinyurl.com/frooglescott02
“In the three years following the purchase of our house in the fall of 2003, its assessed value increases by 72%, or almost a quarter of a million dollars. This windfall changes the way I think and feel about money.” – Froogle Scott
“What effect does all of this distraction have on our city, our society? Froogle Scott generously shares his experience.” -vreaa
January 29th, 2010 at 5:56 am
@rp:
http://www.delzotto.com/featur.....s/cmhc.php
If that mortgage was from a bank, it had to be insured. Non-bank lenders are not required to get insurance regardless of terms.
But I don’t think there’s much downside past 2004 nominal in Toronto. It’s the second mortgage that really looks fishy to me. Too bad the G&M didn’t go into more detail.
January 29th, 2010 at 5:32 am
#2 @patriotz: They put 10% down in 2004. Are we on the hook for that one? When were the CMHC limits thrown out the window?
January 29th, 2010 at 5:08 am
How much do your neighbours owe on their mortgage? The likely answer: a lot more than you think
And that’s Toronto, which is a lot less bubbly than Vancouver.
Don’t hold your breath waiting for a similar article in Vancouver “newspapers”.
January 29th, 2010 at 4:51 am
Verbatim from the Financial Post:
So the emperor is still waling around naked even after the crowd has pointed it out.
The FP has essentially come right out and called Flaherty an ass.
Who needs fairy tales. We’re living in one right now.