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the torch relay was a nazi idea in the first place.

http://en.wikipedia.org/wiki/Olympic_Flame

"The modern convention of moving the Olympic Flame via a relay system from Olympia to the Olympic venue began with the 1936 Summer Olympics in Berlin, Germany.

The relay, captured in Leni Riefenstahl's film Olympia, was part of the Nazi propaganda machine’s attempt to add myth and mystique to Adolf Hitler’s regime. Hitler saw the link with the ancient Games as the perfect way to illustrate his belief that classical Greece was an Aryan forerunner of the modern German Reich."

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The government isn't doing the lending to individuals. But yeah if the bank bails and calls in the mortgage insurance the government will go through the same steps a bank or other institution would to collect their money.

"CMHC really is no different than any other creditors and will follow the standard collection processes available. Essentially you would be looking at them trying to collect by directly making arrangements with you. If that fails then you will be looking at being subject to a garnishee." – Barton Goth (Bankruptcy Lawyer)

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http://matrix.millersamuel.com/?p=6067

Also the owner occupied dwelling isnt 30% its 55% and a big contributor is manhatten wich is ~20%. However business rentals are a good reason for this which must compete with regular properties; vancouver doesnt have that. In order for that to develop I really think you need some major industries (and dope doesnt count for downtown).

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Is that like a hybrid of leverage to the hilt and leverage to the tits?

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Greaterfool.ca is back up now.

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I don't know, it was running yesterday. Perhaps Bob Rennie put out a web 'contract' on that site? I'm sure it will be up again soon enough.

@Johnny O:

"I think your alter ego is Drachen."

Well I probably do have enough ego for two people but I certainly don't have that much time to waste. Plus, I go on vacation occasionally, you might have noticed I didn't post at all for three or so weeks around Christmas.

Anyhow, I can guarantee you I'm not him.

"Worst case scenario, if you can’t wait it out till properties recover (and they always do, look at Argentina after their 2001 bond defaults) then you tell the bank to GFY and throw them the keys."

This is not California, the bank has the very legitimate right to come after you for everything you own, your only recourse would be to declare bankruptcy. And of course buying a house with 5% down and the intent to never make any monthly payments is almost certainly considered a form of fraud in Canada. But good luck with that plan! Write to me from Jail and tell me how it worked out for you!

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Vancouver west end downtown false creek north

false creek south according to election stats

are approx 70% renters and 30% owner/occupied

we are Manhattanized already, nothing new here!

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