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	<title>Comments on: BOC Deputy Governor: No Canadian Bubble.</title>
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	<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html</link>
	<description>Bubble? What Bubble?</description>
	<lastBuildDate>Thu, 09 Feb 2012 10:10:43 +0000</lastBuildDate>
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		<title>By: thomas</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-65797</link>
		<dc:creator>thomas</dc:creator>
		<pubDate>Sat, 06 Mar 2010 15:36:49 +0000</pubDate>
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		<description>Thanks for the info!!!!!!!!!!!!!!&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-65797&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>Thanks for the info!!!!!!!!!!!!!!
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-65797">0</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: grandmaster G</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64882</link>
		<dc:creator>grandmaster G</dc:creator>
		<pubDate>Wed, 24 Feb 2010 20:56:33 +0000</pubDate>
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		<description>@&lt;a href=&quot;#comment-64832&quot; rel=&quot;nofollow&quot;&gt;Chilled&lt;/a&gt;: just curious, where&#039;s you&#039;re interest coming from currently?&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64882&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 class="atr_link" href="#comment-64832" rel="nofollow">Chilled</a>: just curious, where&#8217;s you&#8217;re interest coming from currently?
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64882">0</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: Drachen</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64862</link>
		<dc:creator>Drachen</dc:creator>
		<pubDate>Wed, 24 Feb 2010 18:14:56 +0000</pubDate>
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		<description>@&lt;a href=&quot;#comment-64838&quot; rel=&quot;nofollow&quot;&gt;patriotz&lt;/a&gt;: 

&quot;What is the return to society at large when somebody wins a gold medal?&quot;

Youth become inspired and hit the gym instead of the streets or vegging on video games and TV = lowered crime rate, less strain on the healthcare system and a healthier society.  This also has a cumulative effect, if one person in a poor neighbourhood has even a moderate level of success as an athlete they usually return and encourage more youth to get involved.

&quot;Wayne Gretzky’s career was not funded by the taxpayer, why should any other athlete’s be?&quot;

Because he chose a sport that happens to pay well.  Other athletes deserve funding for the same reason the arts deserve funding, it is a part of our society and our expression and it benefits us all whether you see the direct links from a to b to c or not.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64862&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 class="atr_link" href="#comment-64838" rel="nofollow">patriotz</a>: </p>
<p>&#8220;What is the return to society at large when somebody wins a gold medal?&#8221;</p>
<p>Youth become inspired and hit the gym instead of the streets or vegging on video games and TV = lowered crime rate, less strain on the healthcare system and a healthier society.  This also has a cumulative effect, if one person in a poor neighbourhood has even a moderate level of success as an athlete they usually return and encourage more youth to get involved.</p>
<p>&#8220;Wayne Gretzky’s career was not funded by the taxpayer, why should any other athlete’s be?&#8221;</p>
<p>Because he chose a sport that happens to pay well.  Other athletes deserve funding for the same reason the arts deserve funding, it is a part of our society and our expression and it benefits us all whether you see the direct links from a to b to c or not.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64862">0</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: Clarke</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64856</link>
		<dc:creator>Clarke</dc:creator>
		<pubDate>Wed, 24 Feb 2010 17:44:00 +0000</pubDate>
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		<description>Canada&#039;s medal count does not seem to impact upon our general health, incomes or even our psychological state over the long term.  But, we have to own the podium or else.  

Kind of reminds me of Napolean&#039;s saying that all you need to create a bunch of heroes is a couple of yards of ribbon.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64856&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>Canada&#8217;s medal count does not seem to impact upon our general health, incomes or even our psychological state over the long term.  But, we have to own the podium or else.  </p>
<p>Kind of reminds me of Napolean&#8217;s saying that all you need to create a bunch of heroes is a couple of yards of ribbon.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64856">2</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/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64851</link>
		<dc:creator>patriotz</dc:creator>
		<pubDate>Wed, 24 Feb 2010 16:46:52 +0000</pubDate>
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		<description>@&lt;a href=&quot;#comment-64848&quot; rel=&quot;nofollow&quot;&gt;mino3&lt;/a&gt;: 
&lt;blockquote&gt;it’s all just a continuation of the US/Soviet cold war propaganda. Olympic medals were great for national pride&lt;/blockquote&gt;
Right, and look at the physical fitness and general health today of the population of the US and the former Soviet republics.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64851&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 class="atr_link" href="#comment-64848" rel="nofollow">mino3</a>: </p>
<blockquote><p>it’s all just a continuation of the US/Soviet cold war propaganda. Olympic medals were great for national pride</p></blockquote>
<p>Right, and look at the physical fitness and general health today of the population of the US and the former Soviet republics.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64851">2</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: mino3</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64848</link>
		<dc:creator>mino3</dc:creator>
		<pubDate>Wed, 24 Feb 2010 16:22:53 +0000</pubDate>
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		<description>patriotz, it&#039;s all just a continuation of the US/Soviet cold war propaganda. Olympic medals were great for national pride. I&#039;m sure the other countries got jealous and wanted medals too. The perceived benefit to society at large is &quot;we are awesome&quot;.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64848&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>patriotz, it&#8217;s all just a continuation of the US/Soviet cold war propaganda. Olympic medals were great for national pride. I&#8217;m sure the other countries got jealous and wanted medals too. The perceived benefit to society at large is &#8220;we are awesome&#8221;.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64848">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/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64838</link>
		<dc:creator>patriotz</dc:creator>
		<pubDate>Wed, 24 Feb 2010 11:59:11 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64838</guid>
		<description>@&lt;a href=&quot;#comment-64836&quot; rel=&quot;nofollow&quot;&gt;rp&lt;/a&gt;: 
&lt;blockquote&gt;Canada’s athletes deserve any funding they get.&lt;/blockquote&gt;
Why?

What is the return to society at large when somebody wins a gold medal? Why should my tax dollars pay to help somebody become a celebrity? Wayne Gretzky&#039;s career was not funded by the taxpayer, why should any other athlete&#039;s be?

Tax money should be spent on improving the fitness of the general population - especially children - which is in abominable shape. Let the elite athletes get their money from rich sponsors, or by charging people to watch them.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64838&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>@<a class="atr_link" href="#comment-64836" rel="nofollow">rp</a>: </p>
<blockquote><p>Canada’s athletes deserve any funding they get.</p></blockquote>
<p>Why?</p>
<p>What is the return to society at large when somebody wins a gold medal? Why should my tax dollars pay to help somebody become a celebrity? Wayne Gretzky&#8217;s career was not funded by the taxpayer, why should any other athlete&#8217;s be?</p>
<p>Tax money should be spent on improving the fitness of the general population &#8211; especially children &#8211; which is in abominable shape. Let the elite athletes get their money from rich sponsors, or by charging people to watch them.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64838">10</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: rp</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64836</link>
		<dc:creator>rp</dc:creator>
		<pubDate>Wed, 24 Feb 2010 07:29:43 +0000</pubDate>
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		<description>Canada&#039;s athletes deserve any funding they get.  But how anyone thought a bunch of bureaucrats could help us win us more Olympic medals is beyond me.  How much did they get?  We should send them down the luge track.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64836&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>Canada&#8217;s athletes deserve any funding they get.  But how anyone thought a bunch of bureaucrats could help us win us more Olympic medals is beyond me.  How much did they get?  We should send them down the luge track.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64836">0</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: realpaul</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64835</link>
		<dc:creator>realpaul</dc:creator>
		<pubDate>Wed, 24 Feb 2010 07:21:02 +0000</pubDate>
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		<description>Didn&#039;t Allan Greenspan also deny a bubble in the US until the day he retired with a nice fat pension? Didn&#039;t he change his tune the day later? Isn&#039;t this similar to the RCMP public complaints official here who  kept denying that anything was wrong until the day after he retired with a big fat pension. I&#039;m seeing pattern forming here. These losers all tow the party line until they are safely pensioned off and only then does the truth come out. Does anyone remember that noisy fucker John Crosbie about the cod disaster back in Newfie. He was against any suggestion of mismangement by the government until.........a few days after he retired with a nice fat pension he says ....mistakes were made for the sake of political expediancy.

This country is short on truth telling and chock full of liars !!!!!!!

Did anyone notive the pro Own the Podium campaign the past two days? They have gone on the offensive and lined up all the athelets and even flew in Buzz Aldrin to speak on thier behalf. Buz you remember is the famous #2 man on the moon. Being #2 is not bad he says, this is the line that the OTP slugs are trying to push so as to get the Canadians to stop focusing on the bullshit they were slung prior to the games.

And who is slinging it...why the whores in the media as usual, disguising &#039;interviews as &#039;infomercials &#039; paid for by guess who? Yup, VANOC. This town needs more Americans. Cause Americans speak up when someone tries to fuck them over. Thes esmall town yokels are too easily led. Maybe its the cancerous tumours in the seafood?&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64835&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>Didn&#8217;t Allan Greenspan also deny a bubble in the US until the day he retired with a nice fat pension? Didn&#8217;t he change his tune the day later? Isn&#8217;t this similar to the RCMP public complaints official here who  kept denying that anything was wrong until the day after he retired with a big fat pension. I&#8217;m seeing pattern forming here. These losers all tow the party line until they are safely pensioned off and only then does the truth come out. Does anyone remember that noisy fucker John Crosbie about the cod disaster back in Newfie. He was against any suggestion of mismangement by the government until&#8230;&#8230;&#8230;a few days after he retired with a nice fat pension he says &#8230;.mistakes were made for the sake of political expediancy.</p>
<p>This country is short on truth telling and chock full of liars !!!!!!!</p>
<p>Did anyone notive the pro Own the Podium campaign the past two days? They have gone on the offensive and lined up all the athelets and even flew in Buzz Aldrin to speak on thier behalf. Buz you remember is the famous #2 man on the moon. Being #2 is not bad he says, this is the line that the OTP slugs are trying to push so as to get the Canadians to stop focusing on the bullshit they were slung prior to the games.</p>
<p>And who is slinging it&#8230;why the whores in the media as usual, disguising &#8216;interviews as &#8216;infomercials &#8216; paid for by guess who? Yup, VANOC. This town needs more Americans. Cause Americans speak up when someone tries to fuck them over. Thes esmall town yokels are too easily led. Maybe its the cancerous tumours in the seafood?
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64835">0</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: Chilled</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64834</link>
		<dc:creator>Chilled</dc:creator>
		<pubDate>Wed, 24 Feb 2010 07:05:11 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64834</guid>
		<description>13  
X VHB Says: 

February 23rd, 2010 at 9:26 am 

Whether I own or rent affects my life zero–except that renting costs me 2 large a month less. Thanks, landlord! 

++++++++++++++++++++++

And we can be the cause of those extra special strata meetings instead of the expected answer!!!!   LOL&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64834&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>13<br />
X VHB Says: </p>
<p>February 23rd, 2010 at 9:26 am </p>
<p>Whether I own or rent affects my life zero–except that renting costs me 2 large a month less. Thanks, landlord! </p>
<p>++++++++++++++++++++++</p>
<p>And we can be the cause of those extra special strata meetings instead of the expected answer!!!!   LOL
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64834">3</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: rp</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64833</link>
		<dc:creator>rp</dc:creator>
		<pubDate>Wed, 24 Feb 2010 07:02:28 +0000</pubDate>
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		<description>#63 @&lt;a href=&quot;#comment-64830&quot; rel=&quot;nofollow&quot;&gt;domus&lt;/a&gt;: You need to get up to speed.  All of this real estate &quot;investment&quot; is backed by the government.  It&#039;s the only thing we do!  They&#039;re happy to lend me $750k for a primary residence, but they&#039;ll lend me up to $1 million dollars (cue Austin Powers) to &quot;invest&quot; in rental properties.  

http://americacanada.blogspot.com/2009/07/cmhc-and-our-government.html

I wonder if they&#039;ll lend me $1 million to play the stock market too?  Seriously, you need to get on the gravy train.  Nobody needs to work anymore, working is for suckers.  We&#039;ll just flip houses all day long on government credit that rises exponentially to make everything pay off.  You can&#039;t lose!  Until a currency crisis that is.  But then those idiots who were working and saving and sacrificing will be hit even harder.

Maybe it will be like the US where if you can&#039;t pay the mortgage you just get to stay in the house for free for YEARS!  After all, your good buddy the government isn&#039;t going to kick you out.  That would hurt the housing market, which, I remind you, is the only thing we do.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64833&quot;&gt;9&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>#63 @<a class="atr_link" href="#comment-64830" rel="nofollow">domus</a>: You need to get up to speed.  All of this real estate &#8220;investment&#8221; is backed by the government.  It&#8217;s the only thing we do!  They&#8217;re happy to lend me $750k for a primary residence, but they&#8217;ll lend me up to $1 million dollars (cue Austin Powers) to &#8220;invest&#8221; in rental properties.  </p>
<p><a href="http://americacanada.blogspot.com/2009/07/cmhc-and-our-government.html" rel="nofollow">http://americacanada.blogspot......nment.html</a></p>
<p>I wonder if they&#8217;ll lend me $1 million to play the stock market too?  Seriously, you need to get on the gravy train.  Nobody needs to work anymore, working is for suckers.  We&#8217;ll just flip houses all day long on government credit that rises exponentially to make everything pay off.  You can&#8217;t lose!  Until a currency crisis that is.  But then those idiots who were working and saving and sacrificing will be hit even harder.</p>
<p>Maybe it will be like the US where if you can&#8217;t pay the mortgage you just get to stay in the house for free for YEARS!  After all, your good buddy the government isn&#8217;t going to kick you out.  That would hurt the housing market, which, I remind you, is the only thing we do.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64833">9</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: Chilled</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64832</link>
		<dc:creator>Chilled</dc:creator>
		<pubDate>Wed, 24 Feb 2010 07:00:08 +0000</pubDate>
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		<description>No bubble, who cares.  Lets wait until a 250 sq ft condo/closet in skid row sells for a million bucks!  We can than collectively declare a crescendo, a utophia.  In the interim, I&#039;ll allow my interest income to pay my rent, be debt free, grow my savings and remain amused by the stressed out people surrounding me.  As long as I can continue to type faster than I talk, happily drive in the right hand lane, continue to open doors for others, my life remains on track.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64832&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>No bubble, who cares.  Lets wait until a 250 sq ft condo/closet in skid row sells for a million bucks!  We can than collectively declare a crescendo, a utophia.  In the interim, I&#8217;ll allow my interest income to pay my rent, be debt free, grow my savings and remain amused by the stressed out people surrounding me.  As long as I can continue to type faster than I talk, happily drive in the right hand lane, continue to open doors for others, my life remains on track.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64832">2</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: Loud Speaker</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64831</link>
		<dc:creator>Loud Speaker</dc:creator>
		<pubDate>Wed, 24 Feb 2010 06:37:15 +0000</pubDate>
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		<description>&quot;Does any sane person ‘dream’ of OWNING a condo?&quot;

I don&#039;t know why you say thanks to landlord at the end oh maybe he is a sane person with guts to provide you shelter on single installment,Nope?

One thing to remember and that is owning or renting is an choice,If you are happy renting that&#039;s what make your landlord happy.

Happy ending.

Keep the spirit going folks lots of medals to come.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64831&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>&#8220;Does any sane person ‘dream’ of OWNING a condo?&#8221;</p>
<p>I don&#8217;t know why you say thanks to landlord at the end oh maybe he is a sane person with guts to provide you shelter on single installment,Nope?</p>
<p>One thing to remember and that is owning or renting is an choice,If you are happy renting that&#8217;s what make your landlord happy.</p>
<p>Happy ending.</p>
<p>Keep the spirit going folks lots of medals to come.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64831">-10</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: domus</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64830</link>
		<dc:creator>domus</dc:creator>
		<pubDate>Wed, 24 Feb 2010 06:36:59 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64830</guid>
		<description>Now, this is crazy. Just browsing around for the implementation of the new mortgage rules and this came out.

Genworth involved in mortgage rule changes

http://www.mortgagebrokernews.ca/news/genworth-involved-in-mortgage-rule-changes/43566

&quot;...Genworth Financial Canada has said the new rules will also apply to mortgages it insures...Vukanovich went on to say that because Genworth Financial Canada is backed by the government, the company is affected by the new rules.&quot;

Is this true?? Genworth Canada Ifinancial arm of General Electric, if i am not mistaken) is backed by Canadian taxpayers? Please correct me, I really really want to be wrong about this. I hoep I am wrong.

A back of the envelope calculation shows that potential liabilities for CMHC are comparable with those of healthcare for babyboomers. I hope there are no more hidden liabilities with Genworth.
And why the hell would the Canadian Government provide implicit backing for Genworth private insurance business? Is Genworth sharing profits? Or providing a socially valuable service? 
Is RE investing now considered a beneficial activity for our society? Why would we subsidize that? Please someone tell me that I am not getting this right.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64830&quot;&gt;8&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>Now, this is crazy. Just browsing around for the implementation of the new mortgage rules and this came out.</p>
<p>Genworth involved in mortgage rule changes</p>
<p><a href="http://www.mortgagebrokernews.ca/news/genworth-involved-in-mortgage-rule-changes/43566" rel="nofollow">http://www.mortgagebrokernews......nges/43566</a></p>
<p>&#8220;&#8230;Genworth Financial Canada has said the new rules will also apply to mortgages it insures&#8230;Vukanovich went on to say that because Genworth Financial Canada is backed by the government, the company is affected by the new rules.&#8221;</p>
<p>Is this true?? Genworth Canada Ifinancial arm of General Electric, if i am not mistaken) is backed by Canadian taxpayers? Please correct me, I really really want to be wrong about this. I hoep I am wrong.</p>
<p>A back of the envelope calculation shows that potential liabilities for CMHC are comparable with those of healthcare for babyboomers. I hope there are no more hidden liabilities with Genworth.<br />
And why the hell would the Canadian Government provide implicit backing for Genworth private insurance business? Is Genworth sharing profits? Or providing a socially valuable service?<br />
Is RE investing now considered a beneficial activity for our society? Why would we subsidize that? Please someone tell me that I am not getting this right.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64830">8</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: domus</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64829</link>
		<dc:creator>domus</dc:creator>
		<pubDate>Wed, 24 Feb 2010 06:28:04 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64829</guid>
		<description>MSM chatter about the effects of the mortgage tightening.

Mortgage changes to tighten approvals

http://www.nationalpost.com/news/story.html?id=2590149

&quot;...For most consumers, the changes are unlikely to make it more difficult to get a mortgage, but it could reduce the size of that mortgage...&quot;

Poor souls. Now they won&#039;t be able to buy that 850k condo on their 75k salary. Life is so unfair.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64829&quot;&gt;6&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>MSM chatter about the effects of the mortgage tightening.</p>
<p>Mortgage changes to tighten approvals</p>
<p><a href="http://www.nationalpost.com/news/story.html?id=2590149" rel="nofollow">http://www.nationalpost.com/ne.....id=2590149</a></p>
<p>&#8220;&#8230;For most consumers, the changes are unlikely to make it more difficult to get a mortgage, but it could reduce the size of that mortgage&#8230;&#8221;</p>
<p>Poor souls. Now they won&#8217;t be able to buy that 850k condo on their 75k salary. Life is so unfair.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64829">6</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: Anselme Bellegarrigue</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64828</link>
		<dc:creator>Anselme Bellegarrigue</dc:creator>
		<pubDate>Wed, 24 Feb 2010 06:01:27 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64828</guid>
		<description>@&lt;a href=&quot;#comment-64778&quot; rel=&quot;nofollow&quot;&gt;rp&lt;/a&gt;:
&lt;i&gt;Where’s Bin Laden when you need him? &lt;/i&gt;

He&#039;s not needed anymore. The fake US Treasuries the Primary Dealer banks forged and all the documents related to them burned down with the Trade Center buildings.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64828&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>@<a class="atr_link" href="#comment-64778" rel="nofollow">rp</a>:<br />
<i>Where’s Bin Laden when you need him? </i></p>
<p>He&#8217;s not needed anymore. The fake US Treasuries the Primary Dealer banks forged and all the documents related to them burned down with the Trade Center buildings.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64828">-1</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: rentals</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64827</link>
		<dc:creator>rentals</dc:creator>
		<pubDate>Wed, 24 Feb 2010 05:56:04 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64827</guid>
		<description>Remember Asians don&#039;t like to rent out investments b/c in China is still considered new if it hasn&#039;t been lived in whether it&#039;s 1,2,3,4... years old.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64827&quot;&gt;4&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>Remember Asians don&#8217;t like to rent out investments b/c in China is still considered new if it hasn&#8217;t been lived in whether it&#8217;s 1,2,3,4&#8230; years old.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64827">4</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: jesse</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64825</link>
		<dc:creator>jesse</dc:creator>
		<pubDate>Wed, 24 Feb 2010 05:23:42 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64825</guid>
		<description>The BoC spokespeople are being disengenuous at best and dishonest at worst. The word &quot;bubble&quot; is so subjective they can always claim there&#039;s no bubble. They should stick to the data and leave the lies to the experts.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64825&quot;&gt;5&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>The BoC spokespeople are being disengenuous at best and dishonest at worst. The word &#8220;bubble&#8221; is so subjective they can always claim there&#8217;s no bubble. They should stick to the data and leave the lies to the experts.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64825">5</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: Drachen</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64824</link>
		<dc:creator>Drachen</dc:creator>
		<pubDate>Wed, 24 Feb 2010 05:18:31 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64824</guid>
		<description>@&lt;a href=&quot;#comment-64820&quot; rel=&quot;nofollow&quot;&gt;scoop&lt;/a&gt;: 

Find all those in audio-bite format and you&#039;ve just written the winning advertisement for the Liberals next campaign.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64824&quot;&gt;9&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 class="atr_link" href="#comment-64820" rel="nofollow">scoop</a>: </p>
<p>Find all those in audio-bite format and you&#8217;ve just written the winning advertisement for the Liberals next campaign.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64824">9</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: DEFAULT NAME</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64823</link>
		<dc:creator>DEFAULT NAME</dc:creator>
		<pubDate>Wed, 24 Feb 2010 05:10:49 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64823</guid>
		<description>@&lt;a href=&quot;#comment-64820&quot; rel=&quot;nofollow&quot;&gt;scoop&lt;/a&gt;: 

spot on, Scoop! Thanks a lot. 

...and these guy are the fiscal conservatives! What a joke.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64823&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 class="atr_link" href="#comment-64820" rel="nofollow">scoop</a>: </p>
<p>spot on, Scoop! Thanks a lot. </p>
<p>&#8230;and these guy are the fiscal conservatives! What a joke.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64823">11</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/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64822</link>
		<dc:creator>anonymous</dc:creator>
		<pubDate>Wed, 24 Feb 2010 04:59:06 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64822</guid>
		<description>Thank you Mr. Scoop for those tantalizing excerpts from the mouth of Minister Flaherty.  Members of the viewing public what do these comments tell us?  


In my opinion, Mr. Flaherty is like a woman wearing a spandex lululemon outfit because its trendy but ignores the fact that she has the rear the size of a clidesdale. Spandex is not a right it is earned.  Somethings just speak for themselves.

Flaherty is full of bullshit, bullshit and more horseshit.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64822&quot;&gt;7&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>Thank you Mr. Scoop for those tantalizing excerpts from the mouth of Minister Flaherty.  Members of the viewing public what do these comments tell us?  </p>
<p>In my opinion, Mr. Flaherty is like a woman wearing a spandex lululemon outfit because its trendy but ignores the fact that she has the rear the size of a clidesdale. Spandex is not a right it is earned.  Somethings just speak for themselves.</p>
<p>Flaherty is full of bullshit, bullshit and more horseshit.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64822">7</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: bestplaceonmeth</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64821</link>
		<dc:creator>bestplaceonmeth</dc:creator>
		<pubDate>Wed, 24 Feb 2010 04:42:55 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64821</guid>
		<description>Nice chronology, Scoop.

Now all we need to do is replace the word DEFICIT with the word BUBBLE and we&#039;re all set to see into the future.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64821&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>Nice chronology, Scoop.</p>
<p>Now all we need to do is replace the word DEFICIT with the word BUBBLE and we&#8217;re all set to see into the future.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64821">2</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: scoop</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64820</link>
		<dc:creator>scoop</dc:creator>
		<pubDate>Wed, 24 Feb 2010 04:34:24 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64820</guid>
		<description>Why I get excited when Flaherty says there is no bubble:

Oct 9 2008 &quot;We will not run a deficit.&quot;

Nov 27 2008 The federal government will post a surplus each year over the next five years [Flaherty said] although he cautioned that a volatile economic situation and rapidly declining commodity prices mean &quot;a deficit cannot be ruled out.&quot;

Dec 17, 2008 &quot;No, there will be a deficit... It&#039;s quite clear, on the basis of the forecast and the continuing decline in the forecasts, that there will be a deficit, even after we take the measures that we outlined in the fall economic statement.&quot;

Jan 9 2009 &quot;Canada has certain needs and Canadians have certain needs in this extraordinary time of global recession. To fulfill those needs, we are going to have to run a substantial deficit, which we will do&quot;

May 25, 2009 &quot;I expect we will have a larger deficit than anticipated in the federal budget...the deficit will be substantially more.&quot;

May 26, 2009 &quot;It&#039;s necessary in the short term to run a large deficit -- relatively large -- to make sure that Canada gets through this [recession]. This will be a short-term deficit and we&#039;ll be able to manage it.&quot;

May 28, 2009 &quot;This is not the worst deficit in Canada&#039;s history but this is the worst recession since the Second World War.&quot;

January 15, 2010 “I don’t agree with [Parliamentary Budget Officer Kevin Page] that there is a structural deficit. He’s speculating,”&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64820&quot;&gt;23&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>Why I get excited when Flaherty says there is no bubble:</p>
<p>Oct 9 2008 &#8220;We will not run a deficit.&#8221;</p>
<p>Nov 27 2008 The federal government will post a surplus each year over the next five years [Flaherty said] although he cautioned that a volatile economic situation and rapidly declining commodity prices mean &#8220;a deficit cannot be ruled out.&#8221;</p>
<p>Dec 17, 2008 &#8220;No, there will be a deficit&#8230; It&#8217;s quite clear, on the basis of the forecast and the continuing decline in the forecasts, that there will be a deficit, even after we take the measures that we outlined in the fall economic statement.&#8221;</p>
<p>Jan 9 2009 &#8220;Canada has certain needs and Canadians have certain needs in this extraordinary time of global recession. To fulfill those needs, we are going to have to run a substantial deficit, which we will do&#8221;</p>
<p>May 25, 2009 &#8220;I expect we will have a larger deficit than anticipated in the federal budget&#8230;the deficit will be substantially more.&#8221;</p>
<p>May 26, 2009 &#8220;It&#8217;s necessary in the short term to run a large deficit &#8212; relatively large &#8212; to make sure that Canada gets through this [recession]. This will be a short-term deficit and we&#8217;ll be able to manage it.&#8221;</p>
<p>May 28, 2009 &#8220;This is not the worst deficit in Canada&#8217;s history but this is the worst recession since the Second World War.&#8221;</p>
<p>January 15, 2010 “I don’t agree with [Parliamentary Budget Officer Kevin Page] that there is a structural deficit. He’s speculating,”
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64820">23</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: BBY</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64819</link>
		<dc:creator>BBY</dc:creator>
		<pubDate>Wed, 24 Feb 2010 04:17:30 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64819</guid>
		<description>Of course there&#039;s no Canadian Housing Bubble. There&#039;s only a Toronto Bubble, Calgary Bubble, Victoria Bubble, Fraser Valley Bubble. And, lest we forget, a Vancouver Bubble.
As &quot;they&quot; like to say, Real Estate is local. 
Canadian isn&#039;t a bubble. It&#039;s a bubble bath.&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64819&quot;&gt;18&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>Of course there&#8217;s no Canadian Housing Bubble. There&#8217;s only a Toronto Bubble, Calgary Bubble, Victoria Bubble, Fraser Valley Bubble. And, lest we forget, a Vancouver Bubble.<br />
As &#8220;they&#8221; like to say, Real Estate is local.<br />
Canadian isn&#8217;t a bubble. It&#8217;s a bubble bath.
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64819">18</span> <small>(to vote for this comment, please visit the site)</small></p>
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		<title>By: Starving Artist</title>
		<link>http://vancouvercondo.info/2010/02/boc-deputy-governor-no-canadian-bubble.html#comment-64818</link>
		<dc:creator>Starving Artist</dc:creator>
		<pubDate>Wed, 24 Feb 2010 04:02:12 +0000</pubDate>
		<guid isPermaLink="false">http://vancouvercondo.info/?p=1747#comment-64818</guid>
		<description>There&#039;s no fighting the fundamentals

http://www.calculatedriskblog.com/2010/02/housing-price-to-rent-ratio.html&lt;p class=&quot;top-comments&quot;&gt;Current score: &lt;span class=&quot;top-comments-karma&quot; id=&quot;karma-64818&quot;&gt;6&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>There&#8217;s no fighting the fundamentals</p>
<p><a href="http://www.calculatedriskblog.com/2010/02/housing-price-to-rent-ratio.html" rel="nofollow">http://www.calculatedriskblog......ratio.html</a>
<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64818">6</span> <small>(to vote for this comment, please visit the site)</small></p>
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