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	<title>Comments on: More on BOC housing market risk speech</title>
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	<description>Bubble? What Bubble?</description>
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		<title>By: jim</title>
		<link>http://vancouvercondo.info/2010/01/more-on-boc-housing-market-risk-speech.html#comment-62538</link>
		<dc:creator>jim</dc:creator>
		<pubDate>Sat, 23 Jan 2010 17:20:52 +0000</pubDate>
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		<description>I loved this well written article and great website.  Very informative.  Keep up the good work! &lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-62538&quot;&gt;0&lt;/span&gt; &lt;small&gt;(to vote for this comment, please visit the site)&lt;/small&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>I loved this well written article and great website.  Very informative.  Keep up the good work!
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-62538">0</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: Anonymous</title>
		<link>http://vancouvercondo.info/2010/01/more-on-boc-housing-market-risk-speech.html#comment-61864</link>
		<dc:creator>Anonymous</dc:creator>
		<pubDate>Thu, 14 Jan 2010 12:44:46 +0000</pubDate>
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		<description>@&lt;a href=&quot;#comment-61838&quot; rel=&quot;nofollow&quot;&gt;patriotz&lt;/a&gt;:  
 
In other words eight people move into a house that used to have just two occupants.  
 
----- 
 
There&#039;s a name for that: &#039;Kitsalanofication&#039;.  Funny, it used to be the Russians that didn&#039;t have any single family dwellings.  Seems like we&#8217;re headed there now!  What happened? &lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-61864&quot;&gt;0&lt;/span&gt; &lt;small&gt;(to vote for this comment, please visit the site)&lt;/small&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>@<a href="#comment-61838" rel="nofollow">patriotz</a>: </p>
<p>In other words eight people move into a house that used to have just two occupants. </p>
<p>&#8212;&#8211;</p>
<p>There&#039;s a name for that: &#039;Kitsalanofication&#039;.  Funny, it used to be the Russians that didn&#039;t have any single family dwellings.  Seems like we&rsquo;re headed there now!  What happened?
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-61864">0</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: Anonymous</title>
		<link>http://vancouvercondo.info/2010/01/more-on-boc-housing-market-risk-speech.html#comment-61853</link>
		<dc:creator>Anonymous</dc:creator>
		<pubDate>Thu, 14 Jan 2010 10:43:44 +0000</pubDate>
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		<description>scullboy, if you suspect that some posters are fems, they are fems who make good money to think in real estate. After all posting online is anonymous and genderless. Take a chill pill. Marry a rich cougar and all your pecuniary problems solved. &lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-61853&quot;&gt;1&lt;/span&gt; &lt;small&gt;(to vote for this comment, please visit the site)&lt;/small&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>scullboy, if you suspect that some posters are fems, they are fems who make good money to think in real estate. After all posting online is anonymous and genderless. Take a chill pill. Marry a rich cougar and all your pecuniary problems solved.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-61853">1</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: scullboy</title>
		<link>http://vancouvercondo.info/2010/01/more-on-boc-housing-market-risk-speech.html#comment-61840</link>
		<dc:creator>scullboy</dc:creator>
		<pubDate>Thu, 14 Jan 2010 05:47:33 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1622#comment-61840</guid>
		<description>&quot;I&#8217;m so happy scullboy is out of town. He&#8217;s missing out on a great world event. I&#8217;ll think about that bozo when I sit at GM Place watching hockey games while sipping my $7 beer.&quot; 
 
*ahem* AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA! 
 
Um, you seem to think about me a *lot* SupraLadyBoy. Admittedly I have that affect on a lot of girly Asian boys. I know, I know.... you&#039;ve heard about virile Maritime men and what we&#039;re swingin&#039; under our kilts. 
 
It&#039;s gotta be tough, you and all your ladyboy friends servicing those fat old Daddy types. That&#039;s how you&#039;re getting into the Olympic events, right? I mean those call center jobs aren&#039;t exactly high paying. Only you and your little girlfriends would be stupid enough to pay 7 bucks for that watered down moose piss. Luckily it only takes .... what.... a shot and a half of the stuff to get you buzzed enough to go on your back for Daddy. I&#039;m sure thoughts of me will be going through your head at the time too.... &quot;Damn that scull boy with his boyish good looks, I&#039;ll be he&#039;s so manly in his kilt and big.... swingin.... sporran....&quot; 
 
And since I&#039;m speaking to one of &#039;em now maybe you can tell me, is your obsession simple jealousy or are you just starvin&#039; for a real man? Is it bitterness over what you can never have? C&#039;mon dude, I&#039;m dyin&#039; to know. 
 
And for the rest of you, yeah admittedly it&#039;s a vulgar post but I had to address Supra&#039;s obsession.... it was getting a little disturbing.  
 
Those Asian fem boys can be so clingy and they never take &quot;no&quot; for an answer..... &lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-61840&quot;&gt;-3&lt;/span&gt; &lt;small&gt;(to vote for this comment, please visit the site)&lt;/small&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>&quot;I&rsquo;m so happy scullboy is out of town. He&rsquo;s missing out on a great world event. I&rsquo;ll think about that bozo when I sit at GM Place watching hockey games while sipping my $7 beer.&quot;</p>
<p>*ahem* AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!</p>
<p>Um, you seem to think about me a *lot* SupraLadyBoy. Admittedly I have that affect on a lot of girly Asian boys. I know, I know&#8230;. you&#039;ve heard about virile Maritime men and what we&#039;re swingin&#039; under our kilts.</p>
<p>It&#039;s gotta be tough, you and all your ladyboy friends servicing those fat old Daddy types. That&#039;s how you&#039;re getting into the Olympic events, right? I mean those call center jobs aren&#039;t exactly high paying. Only you and your little girlfriends would be stupid enough to pay 7 bucks for that watered down moose piss. Luckily it only takes &#8230;. what&#8230;. a shot and a half of the stuff to get you buzzed enough to go on your back for Daddy. I&#039;m sure thoughts of me will be going through your head at the time too&#8230;. &quot;Damn that scull boy with his boyish good looks, I&#039;ll be he&#039;s so manly in his kilt and big&#8230;. swingin&#8230;. sporran&#8230;.&quot;</p>
<p>And since I&#039;m speaking to one of &#039;em now maybe you can tell me, is your obsession simple jealousy or are you just starvin&#039; for a real man? Is it bitterness over what you can never have? C&#039;mon dude, I&#039;m dyin&#039; to know.</p>
<p>And for the rest of you, yeah admittedly it&#039;s a vulgar post but I had to address Supra&#039;s obsession&#8230;. it was getting a little disturbing. </p>
<p>Those Asian fem boys can be so clingy and they never take &quot;no&quot; for an answer&#8230;..
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-61840">-3</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: patriotz</title>
		<link>http://vancouvercondo.info/2010/01/more-on-boc-housing-market-risk-speech.html#comment-61839</link>
		<dc:creator>patriotz</dc:creator>
		<pubDate>Thu, 14 Jan 2010 04:52:32 +0000</pubDate>
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		<description>@&lt;a href=&quot;#comment-61818&quot; rel=&quot;nofollow&quot;&gt;smartmoney&lt;/a&gt;:  
&lt;blockquote&gt;I have an issue with 85% of the current tax revenue of all levels of government going into wages and benefits of civil servants.&lt;/blockquote&gt; 
That is complete nonsense, the only level of government that spends that kind of money on its own employees (which is what I assume you mean by &quot;civil servants&quot;) is the school boards. Municipalities come next but they have much higher capital costs. 
 
Public sector employees account for 17% of all employment in Canada. But public sector spending is about 35% of GDP. Obviously spending on government employees must be far smaller than you claim. For example: 
&lt;blockquote&gt;Of the $223.9 billion in federal spending in 2007, about one-third was dedicated to social security payments, family allowances and income assistance. International activities such as national defense, foreign diplomacy and international assistance totaled 10% of federal spending, as did health care and general purpose transfer payments to other levels of government.&lt;/blockquote&gt;  &lt;a href=&quot;http://www41.statcan.ca/2008/3055/ceb3055_000-eng.htm&quot; rel=&quot;nofollow&quot;&gt;http://www41.statcan.ca/2008/3055/ceb3055_000-eng...&lt;/a&gt;  
 
Not mentioned above is debt service costs, which by themselves make your 85% figure impossible. 
 
BTW doctors are not government employees, although of course almost all of their income comes from the government. Similarly many other people in the private sector such as construction workers. &lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-61839&quot;&gt;2&lt;/span&gt; &lt;small&gt;(to vote for this comment, please visit the site)&lt;/small&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>@<a href="#comment-61818" rel="nofollow">smartmoney</a>: </p>
<blockquote><p>I have an issue with 85% of the current tax revenue of all levels of government going into wages and benefits of civil servants.</p></blockquote>
<p>That is complete nonsense, the only level of government that spends that kind of money on its own employees (which is what I assume you mean by &quot;civil servants&quot;) is the school boards. Municipalities come next but they have much higher capital costs.</p>
<p>Public sector employees account for 17% of all employment in Canada. But public sector spending is about 35% of GDP. Obviously spending on government employees must be far smaller than you claim. For example:</p>
<blockquote><p>Of the $223.9 billion in federal spending in 2007, about one-third was dedicated to social security payments, family allowances and income assistance. International activities such as national defense, foreign diplomacy and international assistance totaled 10% of federal spending, as did health care and general purpose transfer payments to other levels of government.</p></blockquote>
<p>  <a href="http://www41.statcan.ca/2008/3055/ceb3055_000-eng.htm" rel="nofollow"></a><a href="http://www41.statcan.ca/2008/3055/ceb3055_000-eng" rel="nofollow">http://www41.statcan.ca/2008/3055/ceb3055_000-eng</a>&#8230;  </p>
<p>Not mentioned above is debt service costs, which by themselves make your 85% figure impossible.</p>
<p>BTW doctors are not government employees, although of course almost all of their income comes from the government. Similarly many other people in the private sector such as construction workers.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-61839">2</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: &#8220;So our absolute best advertising for Vancouver and its real estate is not “Best Place on Earth”, ski and golf in the same day, mountain and ocean view, democracy &#38; human rights, etc. Nope. Our best advertising apparently is people like Lai </title>
		<link>http://vancouvercondo.info/2010/01/more-on-boc-housing-market-risk-speech.html#comment-61826</link>
		<dc:creator>&#8220;So our absolute best advertising for Vancouver and its real estate is not “Best Place on Earth”, ski and golf in the same day, mountain and ocean view, democracy &#38; human rights, etc. Nope. Our best advertising apparently is people like Lai </dc:creator>
		<pubDate>Thu, 14 Jan 2010 04:16:54 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1622#comment-61826</guid>
		<description>[...] from space889 at vancouvercondo.info 13 Jan 2010 10:26 am - “I note more and more Asians here in La Jolla. I’m thinking that in ten years La Jolla will [...]&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-61826&quot;&gt;0&lt;/span&gt; &lt;small&gt;(to vote for this comment, please visit the site)&lt;/small&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>[...] from space889 at vancouvercondo.info 13 Jan 2010 10:26 am &#8211; “I note more and more Asians here in La Jolla. I’m thinking that in ten years La Jolla will [...]
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-61826">0</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: patriotz</title>
		<link>http://vancouvercondo.info/2010/01/more-on-boc-housing-market-risk-speech.html#comment-61838</link>
		<dc:creator>patriotz</dc:creator>
		<pubDate>Thu, 14 Jan 2010 04:16:30 +0000</pubDate>
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		<description>@&lt;a href=&quot;#comment-61836&quot; rel=&quot;nofollow&quot;&gt;stagnate&lt;/a&gt;:  
&lt;blockquote&gt;the poor ones tend to pool their resources accross a sizeable family grouping. they tend to target the type of product the boomers are downsizing from.&lt;/blockquote&gt; 
In other words eight people move into a house that used to have just two occupants. Yeah, that&#039;s just the ticket to keep demand up to supply. 
 
;-) &lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-61838&quot;&gt;11&lt;/span&gt; &lt;small&gt;(to vote for this comment, please visit the site)&lt;/small&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>@<a href="#comment-61836" rel="nofollow">stagnate</a>: </p>
<blockquote><p>the poor ones tend to pool their resources accross a sizeable family grouping. they tend to target the type of product the boomers are downsizing from.</p></blockquote>
<p>In other words eight people move into a house that used to have just two occupants. Yeah, that&#039;s just the ticket to keep demand up to supply.</p>
<p>  <img src='http://vancouvercondo.info/wp-includes/images/smilies/icon_wink.gif' alt=';-)' class='wp-smiley' />
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-61838">11</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: stagnate</title>
		<link>http://vancouvercondo.info/2010/01/more-on-boc-housing-market-risk-speech.html#comment-61836</link>
		<dc:creator>stagnate</dc:creator>
		<pubDate>Thu, 14 Jan 2010 01:52:31 +0000</pubDate>
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		<description>mino3: i understand what you are saying, boomer selling is a bearish factor but well down the list. there are already a lot more boomers in downsizing situations than upsizing, but that hasn&#039;t had much bearish effect on the market. locally here there are significant numbers of wealthy immigrants and the poor ones tend to pool their resources accross a sizeable family grouping. they tend to target the type of product the boomers are downsizing from. &lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-61836&quot;&gt;-1&lt;/span&gt; &lt;small&gt;(to vote for this comment, please visit the site)&lt;/small&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>mino3: i understand what you are saying, boomer selling is a bearish factor but well down the list. there are already a lot more boomers in downsizing situations than upsizing, but that hasn&#039;t had much bearish effect on the market. locally here there are significant numbers of wealthy immigrants and the poor ones tend to pool their resources accross a sizeable family grouping. they tend to target the type of product the boomers are downsizing from.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-61836">-1</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: oneangryslav2</title>
		<link>http://vancouvercondo.info/2010/01/more-on-boc-housing-market-risk-speech.html#comment-61835</link>
		<dc:creator>oneangryslav2</dc:creator>
		<pubDate>Thu, 14 Jan 2010 01:35:59 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1622#comment-61835</guid>
		<description>Hey, how many of you would be interested in getting together in person for drinks? We could call it our 1st annual VanConInfConf[erence]. 
 
RE bulls and RE bears would be seated at separate tables...just kidding, although Supraboy would have to sit in the corner by himself. 
 
Any interest? &lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-61835&quot;&gt;10&lt;/span&gt; &lt;small&gt;(to vote for this comment, please visit the site)&lt;/small&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Hey, how many of you would be interested in getting together in person for drinks? We could call it our 1st annual VanConInfConf[erence].</p>
<p>RE bulls and RE bears would be seated at separate tables&#8230;just kidding, although Supraboy would have to sit in the corner by himself.</p>
<p>Any interest?
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-61835">10</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: ReadyToPop</title>
		<link>http://vancouvercondo.info/2010/01/more-on-boc-housing-market-risk-speech.html#comment-61833</link>
		<dc:creator>ReadyToPop</dc:creator>
		<pubDate>Wed, 13 Jan 2010 23:19:30 +0000</pubDate>
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		<description>Realtytrac says defaults and repossessions have been running at over 300,000 a month since February. One million American families lost their homes in the fourth quarter. Moody&#039;s Economy.com expects another 2.4m homes to go this year. 
 
&lt;a href=&quot;http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6962632/America-slides-deeper-into-depression-as-Wall-Street-revels.html&quot; rel=&quot;nofollow&quot;&gt;America slides deeper into depression as Wall Street revels&lt;/a&gt; 
 
(but we borrow like there&#039;s no tomorrow....RTP) &lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-61833&quot;&gt;1&lt;/span&gt; &lt;small&gt;(to vote for this comment, please visit the site)&lt;/small&gt;&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Realtytrac says defaults and repossessions have been running at over 300,000 a month since February. One million American families lost their homes in the fourth quarter. Moody&#039;s Economy.com expects another 2.4m homes to go this year.</p>
<p><a href="http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6962632/America-slides-deeper-into-depression-as-Wall-Street-revels.html" rel="nofollow">America slides deeper into depression as Wall Street revels</a></p>
<p>(but we borrow like there&#039;s no tomorrow&#8230;.RTP)
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-61833">1</span> <small>(to vote for this comment, please visit the site)</small></p>
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