Vancouver Condo Info

63 Responses to “Cruise ship hotel plans sinking?”

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1. 63

2. Furlong is Paranoid Says:
   February 3rd, 2010 at 11:31 pm

   “In Lynn Valley they spent over $40 million on a new library,”

   Let’s see now. The approx population of Lynn Valley is about 8,000 including children. A new computer with 10 years internet connection cost about 2,000.00 maybe less

   If one divides the population into a family unit then there are about 3,000 familes

   3,000 times 2,000 = $6,000,000.00

   Close the libraries and have a central one where people can order a book and have it delivered and returned the same way…mail

   Current score: 0
   
3. 62

4. patriotz Says:
   February 3rd, 2010 at 3:40 pm

   @Slim:

   I didn’t say that money laundering supports RE prices.

   You were responding to another poster who said the drug trade supports the economy, and by implication RE prices (that’s what this blog is about, you know).

   I think this website is more your style. Maybe they have a comments section:

   http://www.cheechandchongtour.com/splash.html

   Current score: 1
   
5. 61

6. Slim Says:
   February 3rd, 2010 at 3:09 pm

   @Drachen:

   Well, if you’re in the drug trade and you’re stupid enough to admit it on a public forum then I can see how you’d think laundering money through real-estate was a good idea too.
   =====
   Since I’m not the Slim that you’re referring too (that’s a different Slim than the original – me), I won’t take offense to you’re comment.

   Current score: 0
   
7. 60

8. Slim Says:
   February 3rd, 2010 at 3:02 pm

   @patriotz:

   I didn’t say that, dummy. What I said is that money laundering (or other exotic sources) cannot support RE prices as the price level is determined by what the least able and willing buyer, Joe Homedebtor, is able to pay.
   -======

   I didn’t say that money laundering supports RE prices. I said that housing is a convenient avenue to launder money and if it’s not obviously clear to you why, you’re in denial. Laundering money is another piece of the puzzle that can make higher prices affordable for some.

   Current score: 2
   
9. 59

10. Slim Says:
    February 3rd, 2010 at 2:57 pm

    @Drachen:

    That can’t happen with real estate because the exchange of property is recorded so anyone can tell who paid how much money to whom and you can’t make money appear as if by magic because the SOURCE of the money is recorded so it would have to be already laundered money at that point.

    ——-

    Did you read what I wrote?

    You don’t think that I could spend a $100k on renovations that would significantly increase the value of my house (way more than original $100K invested in reno’s) and never have a receipt to show for it? You’re kidding right? I buy a house, pay a whack of cash under the table for upgrade materials and labour and sell for a huge profit. How exactly would that be tracked? It’s money that’s washed clean and not traceable, and to boot there’s even a big profit. My goodness you’re naïve!

    Current score: 2
    
11. 58

12. gork Says:
    February 3rd, 2010 at 1:46 pm

    @Dave: awesome, now the bubble is really forming!

    Current score: 1
    
13. 57

14. Nobody Cares 2010 Says:
    February 3rd, 2010 at 12:48 pm

    I believe Slim was referencing the fact that he is in the construction industry, and sees the flow or cash to workers and the buyers of houses. Thats all.

    And I really dread supporting anything Real Paul has to say, but if you know anyone on the VPD and other municipal police forces, they will admit that there is some validity in what RP has said about those involved in grow ops.

    A sergeant friend of mine on the drug side of operations admitted a few months back how pervasive the problem is. He admitted that they were so busy just dismantling the grow ops and running to the next one, that they did not have the time to prosecute the operators. Apparently, things have slowed down now though…

    Current score: 4
    
15. 56

16. Drachen Says:
    February 3rd, 2010 at 12:23 pm

    @Slim:

    Well, if you’re in the drug trade and you’re stupid enough to admit it on a public forum then I can see how you’d think laundering money through real-estate was a good idea too.

    Current score: 1
    
17. 55

18. patriotz Says:
    February 3rd, 2010 at 6:11 am

    @2010:

    But get, let’s say, 20 people sporting the same non-sponsor t-shirt at the gate, and there might be a problem.

    And just how are they going to know at the gate what kind of t-shirt someone is wearing? It is wintertime, you know.

    Current score: 2
    
19. 54

20. patriotz Says:
    February 3rd, 2010 at 4:23 am

    @Slim:

    Nothing I stated contradicts your position. What? Do you think that a price drop is going to stop people from laundering cash through RE? Why would it?

    I didn’t say that, dummy. What I said is that money laundering (or other exotic sources) cannot support RE prices as the price level is determined by what the least able and willing buyer, Joe Homedebtor, is able to pay.

    Any fool can see this from the price behaviour over the past couple of years, but it looks like you’re not just any fool.

    Current score: 5
    
21. 53

22. citizen Says:
    February 3rd, 2010 at 1:29 am

    We are different, it’s not going to happen here. We are safe and RE collapseproof. We are smart and know how to keep the show running. Those guys south of border are just bunch of amateurs.

    http://www.nytimes.com/2010/02.....3walk.html

    New research suggests that when a home’s value falls below 75 percent of the amount owed on the mortgage, the owner starts to think hard about walking away, even if he or she has the money to keep paying.

    In a situation without precedent in the modern era, millions of Americans are in this bleak position. Whether, or how, to help them is one of the biggest questions the Obama administration confronts as it seeks a housing policy that would contribute to the economic recovery.

    “We haven’t yet found a way of dealing with this that would, we think, be practical on a large scale,” the assistant Treasury secretary for financial stability, Herbert M. Allison Jr., said in a recent briefing.

    The number of Americans who owed more than their homes were worth was virtually nil when the real estate collapse began in mid-2006, but by the third quarter of 2009, an estimated 4.5 million homeowners had reached the critical threshold, with their home’s value dropping below 75 percent of the mortgage balance.

    They are stretched, aggrieved and restless. With figures released last week showing that the real estate market was stalling again, their numbers are now projected to climb to a peak of 5.1 million by June — about 10 percent of all Americans with mortgages.

    “We’re now at the point of maximum vulnerability,” said Sam Khater, a senior economist with First American CoreLogic, the firm that conducted the recent research. “People’s emotional attachment to their property is melting into the air.”

    Current score: 4
    
23. 52

24. Slim Says:
    February 3rd, 2010 at 12:08 am

    Drachen,

    You are wrong dude. I am in the biz, and I know it is happening.

    Current score: -5
    
25. 51

26. Drachen Says:
    February 2nd, 2010 at 11:30 pm

    @Slim:

    You have no real understanding of how money laundering works do you? Real estate would be a terrible place to do it. Here’s why.

    Money laundering is a method where you take a legitimate business front and then you run your illegal money through it as “profit”, you pay your taxes and everyone is happy, nobody wants to go through a dry cleaner’s receipts to check if every customer on the books is legit.

    That can’t happen with real estate because the exchange of property is recorded so anyone can tell who paid how much money to whom and you can’t make money appear as if by magic because the SOURCE of the money is recorded so it would have to be already laundered money at that point.

    Current score: 8
    

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