CMHC Dwelling Starts, SAAR

Below is my Housing Starts chart updated with the preliminary October data as released by the CMHC. Note that the latest figures are typically revised several times over the following months, but there appears to be a clear downtrend forming in the national numbers, while BC & Vancouver continues to stay near their post-recovery high.

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doug r

@Best place on meth:

Good link, I'm sharing.

NO-LYMPICS

Alleged smuggler linked to estate with chemicals http://www.bclocalnews.com/richmond_southdelta/ri… An alleged smuggling tycoon currently battling to stay in Canada was a recent owner of the farm property on Gilbert Road where Mounties last week discovered a cache of chemical precursors believed to be destined for the manufacture of illegal drugs. Lai Cheong Sing, also known as Lai Changxing, purchased the 1.5-acre Fraserwind estate in 2008, but RCMP Const. Michael McLaughlin, spokesperson for the federal RCMP, told The Richmond Review Lai isn’t currently facing any charges. The federal government has been trying to deport Lai for the better part of a decade. Lai is alleged to have been the brains behind a $10 billion smuggling operation involving cigarettes and motor vehicles in Xiamen, China, as well as allegations he was involved in bribery, fraud and tax evasion. ======================== See we don't have… Read more »

Wealthy Vancouver ho

@realpaul:

We should welcome our Chinese friends and sign a military alliance treaty with China against future American aggression.

Van should be a ideal place for China Navy in time of War with USA.Horse Shoe Bay is the ideal place.

patriotz

@Archie Bunker:

See on the news Dianne Watts is touted as Campbell’s replacement.

BC has already had a former mayor of Surrey as premier.

Guess who?

Anonymous

@4SlicesofCheese: @4SlicesofCheese:

Maintenance fee $420 on a 528k unit that rents for 1900. That place should be advertised as "a great high risk, half million dollar investment with a lower yield than a GIC"

4SlicesofCheese

Sorry off topic but I was browsing thru MLS and I could not get over this agents description. Here it is unedited.. "wellcome to woowards building,Gas Town newest landmark with 2,5,10 years warranty. The Woodwords with the most fantastic amenities in town the W 43 Club with a full gym and 360 dgress views plus media room hot tub,outdoor lounge the suit itself is 975 sqf feature 2 bedrooms 2 bathrooms gourmate kitchen with stainless steel apliances and stone couter to and design doors and tiles it is rented to a very god tenant for $1900.00 monthly with one year lease thisdays banks ppay you almost no interest why dont you buy this apartment and make money from your money with the secure investment " V853721 If this was my property I would be pretty pissed. This has to be… Read more »

jesse

@Anonymous: "Lower risk borrowers seldom get a proportionally lower interest rate on a credit card"

That's because 1) most people don't ask, and 2) if you have a good credit score chances are bills are paid off in full every month. The interest rate is close to irrelevant.

jesse

@Starving Artist: "Outside of Vancouver, the BC housing industry tells a different story"

Word. The province ex Vancouver is going to have significant employment issues in the next year or so. Guess where all the provincial government spending is going to be targeted?

realpaul

Ontario's hospital patients will just have to wait as the unions suck up more of the Provinces health care budget. Premier agrees that 'MRI's can wait'. Like unions cunts everywhere… the public can fuck off and die…..they'll get their 'raise' and the patients can die in the hall.

http://fullcomment.nationalpost.com/2010/11/10/mc

realpaul

Heres an advance from the G20 meetings. Canada has cleared the way for open Chinese investments after years of acrimony over 'human rights'. Lets hope theres a net benefit to Canada and not just a ton of cash pouring into the real estate markets. "China gives green light to invest in Canada Take the "Gone Fishing" sign down from the window. Canada is open for business again. Aweekafter the Harper government blocked BHP Billiton's bid for PotashCorp.,Finance Minister Jim Flaherty announced Wednesday in a pressrelease that China's government has cleared that way for some of the country's investors to plow as much money as they want into Canada. Chinamaintainssomething called the Qualified Domestic InstitutionalInvestor Program,which determines which money managers get to investoutside China, andwhere. China's banking, securities and insuranceregulators all mustagree before the institutions and investors theyregulate can investabroad. On… Read more »

Archie Bunker

Superduperbulltime

Your mother knocked on my door and said $100 bucks

I told her no, I don't charge women.

Archie Bunker

Also see on news that UBCs dirty secret exposed….too many Asian students.

However, ya all know UBC stands for University of a BIllion Ch _ _ _ __ _

If I run for Premier…I'm gonnna tax those professors…too many Asians students is a taxable benefit.

Any idiot can teach them, most of them have equivalent of a Bachelors degree by Grade 7.

Best place on meth

@Archie Bunker:

Watts is thrilled that Surrey lost the "car theft capital of the world" title to Guadalajara this year.

Also, crystal meth production has dropped to 14.7 metric tonnes per year thanks to her.

Let's get her fitted for some red mittens and make her premier.

Archie Bunker

See on the news Dianne Watts is touted as Campbell's replacement.

#1 I hope she asks her old man's permission first.

# 2 I don't think she's ready yet,… too many things still to do in Surrey, like making going to school legal…raisng the legal drinking age to 10….stuff like that.

patriotz

@realpaul:

Obama’s new ‘austerity plan’ ( so soon after the election too…go figure…you’d think he got hos democratic ass kicked or sumpin’) includes the provision for the mortgage deduction on real estate to disappear……

Smart move by Obama. The mortgage interest deduction in the US is probably the stupidest and most economically damaging tax entitlement in the Western world. He is calling the Republicans' bluff – no way will they approve it.

Nor will the Repubs go near reducing Social Security entitlements. Something to do with old white people.

Dirt Dog

Greetings Anonymous

Pass the doob, or better yet hang on real tight and not to your woody. After 10 years of cheap money this is it. Ireland (sp) 8% interest rate hit. Yeah yeah it's fu**ng different here BS. Get a grip our banks have off loaded to CMHC and our esteemed Reform party. Debt at ultra high levels…who is # 3 behind Greece. Ontario per capita higher than Cali.

Good Luck Dude.

Anonymous

@Dirt Dog:

It's time to take your pycho medicine man.

Dan in Calgary

@mclovin, "WHAT THE F@CK happened to personal responsibility???? … If you teach your kids one thing, its take responsibility for your actions. That’s it." McLovin, I don't know very much at all about "postmodernism", but I am told this is the Age we are living in. Some summary concepts are included in a Wikipedia article, a portion of which I quote below: "Whereas modernism (we've left this behind) was primarily concerned with principles such as identity, unity, authority, and certainty, postmodernism (the current Age) is often associated with difference, plurality, textuality, and skepticism." I think basically it sums to "your truth is not my truth", "if it feels good, do it", "anything goes if it works for you" and "who am I to say what's right for you?" This affects every aspect of living, including the pursuit of easy wealth,… Read more »

realpaul

Obama's new 'austerity plan' ( so soon after the election too…go figure…you'd think he got hos democratic ass kicked or sumpin') includes the provision for the mortgage deduction on real estate to disappear…….Think you've seen prices fall in the US up till now…just wait until all speculation is dumped.

http://www.msnbc.msn.com/id/40111714

Dirt Dog

29 years in real estate and my office is dead the North Shore is dead. Tons, and I mean tons of new projects on Marine Drive, priced at below re-sale levels.

Everything ready to kick in next year. I think we are going for the big 50% decrease in values (prices). But WTF do I know having been through 3 of these before.

Hang on Bitches…Dirt Dog

Best place on meth

@Canadian Wiggler:

Cool! 68% in Phoenix have negative equity.

I hope Vancouver gets to 90% when the dust settles.

Wealthy Vancouver ho

@SquareNinja:

NO,NO,NO,why Van are exempt from real estate depression world wide?

Are U blind or stupid ? Most of those house,apartments,and multi-million dollars are bought out mostly by Chinese. That is the only reason man.

Canadian Wiggler

US home price declines similar to Great Depression
Good discussion about what it means to us here in Canada

http://financialinsights.wordpress.com/2010/11/10/rate-of-us-home-price-decline-parallels-great-depression/

Vancouver will be ground zero! Look at the decline from the peak in places like Miami, Orlando, Riverside, and Phoenix. All nicer places than Vancouver and ALL have fallen 50 PERCENT from their peaks with no end in sight. Enjoy the ride down you crazy bulls!

paulb.

New Listings 186

Price Changes 56

Sold Listings 100