I attended the Laurie Anderson performance at the Playhouse on Sunday, and she opened by saying she was surprised that she didn’t know more people up here recalling that in 2000, when Bush was first elected, acquaintances were threatening to move.

When Bush was re-elected in 2004 the often heard response was, “that’s it we’re really going!”

Actions speak volumes.

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You’ve mistaken your Daddy’s lap with condos. Though I’m sure he’s stuff a couple of loonies into that teensy little thong, 10 of ‘em won’t make you rich.

Have another Lychee martini sweetheart, then it’s time for bed. Clearly you can’t hold your drink.

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However, by adding your voice to the cacophony of morons and vested interests denying such a massive and obvious problem, you put yourself squarely in the column of “contributor”. So in the increasingly likely event of some kind of crisis, be aware that your culpability has been noted.

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HST:Only apply to new housing,Developers can pass the cost of hst to buyers in bid to keep their jobs alive or they will reduce the construction of new homes.

RESULTS:Resale home market will move up to the extent where buyers will be agree to pay HST and they will countinue buying new house.

HST on Realtors commissions:It will put pressure on realtors to reduce their Commissions to find buyers and sellers or buyers and sellers will learn to deal directly to save HST and realtors COMMISSIONS rates.Seller can pass half or equal of full commissions to buyers.

INTEREST RATES:Interest rates pressures grow through the gauge of economy recovery and Interest rates proceed up wards gradually,Specially interest rates never poise any threat without any outer reason like Inflation rates,employment rates.

when all wires keep on proceeding to one direction- buyers and sellers chase each other again and again and likely to pay asking or over the list for housing and matterials.When labours from the suppliers and recievers get tired and stuff soaks with mistakes other hand transportation become unavailable then developers bid to pay double double and increase their asking prices double double that’s the time when some one must pass out or pass away to break the oura of gauge of economy.

Conclusion:While the economy pace is little fragile and Oil Prices moves back again and again this provision provide natural life support to the sector(housing) that is already leading the economy.In short words.

WE ARE 29 year behind from the collapse that does not hurt VANCOUVER R.E. by more than 7% or again = Realtors commissions.

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“As you note, there are many aspects that still need to be addressed to prevent serious fallout from a potential housing bubble and ______ has forwarded your input to our Finance Critic for their information. _____ has also flagged these concerns with the Parliamentary Budget Officer and requested that his office take a closer look at these regulations.”

There are many aspects that still need to be addressed to prevent serious fallout from a potential housing bubble. The fact they even used such language meant more to me than anything else in the email.

The fact the BOC has changed mortgage rules for the 2nd time in as many years again reflects the fact they see a bubble and are trying to acknowledge it without being blamed for its formation or its destruction. Warnings and restrictions from the BOC are a political tactic as much as they are a way to thwart further debt inflation.

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http://www.greaterfool.ca/2010/02/22/planning/

Now, I always thought the guy was a bit of a weirdo, but does that change the fact that he completely spot on with his analysis?

Here is something i could not have written more clearly:
“…Greenspan allowed both to form due to lax regulatory oversight and, most significantly, too-cheap rates. In fact, the US real estate bubble could end up destroying the States for a generation or two, throwing it into unrepayable public debt after hollowing out the net worth of the middle class. By refusing to act address the bubble with higher rates, lest he look bad for weakening the whole economy, Greenspan ended up blowing the entire wad…There’s only one reason a house today costs 20% more than it did a year ago. Or that untold numbers of young couples are now dangerously leveraged. Or that average families can’t afford average homes. Or that the legacy of these times will be debt, not equity.”

Sad, maybe, but true.
My opinion of Garth has taken a quantum leap up.

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The federal government said last week it will bring in new mortgage rules to cool the housing sector and prevent home buyers, tempted by record low interest rates, from overextending themselves.

At the same time, it said there was no housing bubble, a point echoed on Monday by Jenkins, who was speaking at a panel discussion at the Government of Canada and Financial Times Global Business Leaders Day in Vancouver, where the housing market is especially hot.

“At the moment, we are certainly seeing a certain amount of the recovery in the Canadian economy coming from the housing sector” he said.

“I would certainly not say we are looking at a housing bubble,” he added.

Unlike the struggling U.S. housing market, sales and prices of existing homes in Canada soared last year, boosted by the central bank’s near-zero interest rates and the resulting low-cost mortgages. Many in the industry have forecast further strength in 2010.

http://www.vancouversun.com/bu.....story.html

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They’ve been increasing for at least a year but it’s accelerating now.
Crap economy, Games ending with unrealized dreams of making a killing, real estate market turning.

Expect to see heavy listings for rentals and sales in the coming months.

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I normally have a look daily on Craigslist under my search parameters, just to see if there might be something better… and wow did I have to scroll today!

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http://www.youtube.com/watch?v=oxrq6AX45bo

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Hey permabullshit!

Psssssst…. I have a podium to sell. Podiums always go up, you know that, don’t you?

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http://news.yahoo.com/s/ap/201....._marijuana

And yes, the official death of the over hyped ‘own the podium’ bullshit campaign was forecast by myself long before the games began. A smart guy like yourself knows that the entire advertising campaign promoting the Olympics was written on used toilet paper that flowed out of one of the 26 sewage outlets that flows daily into False Creek at the gateway to classy Yaletown and the front steps of the desirable Olympic Village . Everyone wants to live with raw sewage pouring out like waterfalls into the pristine harbour, it’s so greeeeeeeeeeeeeeeennnnnnnn.

Vanoc sent out the invitation on the outgoing tide of billions of liters of fresh stinky shit that Vanpoover pours into English Bay every day.Speaking of shit in the water. The enviornmental scientists found that 90% of fish in English Bay have pre-cancerous lesions and that the sand has dangerously high content of choliform ( raw shit)but I saw a tourist video the other day promoting fresh seafood caught in the water off Vanpoodump being served in a restaurant. How fucking funny is that. Nice hosts we are, feeding our guests fresh shit and cancerous tumours. Bwahahahahahahahahahahahahahahahaha. Ya, like you want to feed your kids that shit.

The whole fecal thing would be funny if it wasn’t so deadly serious.

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Once it starts to become painful for the banks, thats when the banks might start to rethink their lending practices.

The banks will rethink their lending practices when CMHC tells them to. As long as someone else is holding the bag, there is no reason for them to do otherwise.

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I dont believe foreclosure rates in 2008 were anything here like they were/are down there.

Foreclosures did not exceed historical norms in the US until 2007, a year after the bust started. Foreclosures are a lagging indicator of a bust.

The Vancouver mini-bust of 2008 didn’t last a year.

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I dont believe foreclosure rates in 2008 were anything here like they were/are down there. Also, sales volume was relatively low. Once it starts to become painful for the banks, thats when the banks might start to rethink their lending practices.

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I have a feeling that the banks, appraisser and everyone else will be doing their jobs slightly differently when the RE market is pointed in a different direction.

Well that’s a given. But they’ve already had practice with the 2008 mini-bust. Until the low interest rates turned things around we were showing a faster drop than any US market.

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In the US anyways, once the ball started rolling, comparables would be looked at, but they would have to be very recent, and even then appraisers are more careful to factor in an “allowance” in a dropping market.

This appraised value impacts the loan to value ratio which can lead to downward pressure on the loan to insure that the loan is not too high for the property. In that case, the buyer usually needs to come up with more downpayment to get the loan he needs (in this case up here, qualify for the 10% down based on the new rules).

In one situation, someone I knew won an auction on a foreclosure. But the appraisal came in too low such that he had to find more downpayment to reach a 80% loan to value to avoid mortgage insurance. (the analogy would be to reach 90% loan to value in canada just so they could qualify for CMHC under the new rules).

Another point about the appraisal mentality on different parts of the RE cycle, during the boom, they could do their appraisal online, just by looking at comparable. During the bust, they would actually show up and check the place out. Even the home insurance appraisers were showing up to do their work. In this one instance, the new homeowners were told by the insurance people that their pile of carpets in the back yard (from their ongoing reno) was a fire hazard and that they had to take care of it immediately.

I have a feeling that the banks, appraisser and everyone else will be doing their jobs slightly differently when the RE market is pointed in a different direction.

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