Friday Free-for-all!

The end of the week is here and that means it’s time for another Friday Free-for-all! Here are a few recent links to kick off the chat:

New Home construction rises in February
Richmond Realtor under investigation for misconduct
Vancouver can’t boost Canada into most overpriced country list
73% of Canadians say they’re ready for housing market collapse
We’re getting a head office. A real head office!!
-Get rich off of goofy superstitions
Loonie roars to 3 year high
How to go from billionaire to broke
Gold coast real estate market leaps into free-fall
China’s richest man spends about $20 a day
Equity markets have a rough week

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

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Anonymous

what – is the site down – cannot post comments on the astonaut family piece

patriotz

@N: But property tax, at least in Vancouver, is calculated relative to your neighbors, and not in an absolute sense so, all things being equal, Ashton would pay more tax than a person living in modest home in Vancouver. Under the Proposition 13 Ponzi scheme, California property taxes are based on what you paid for the property, not the current market valuation. Two people can live in identical houses, and one will pay 2 or 3 or more times as much tax as the other. This worked well as long as prices kept rising, because increases in government spending could be passed onto new buyers alone. So there was no incentive for most homeowners to elect more responsible governments because they didn’t have to pay the tax increases. Of course once prices started falling it all came apart and this… Read more »

jesse

@asalvari1: "there is a bit slowdown, but noting major"

I agree… it's probably nothing.

Of course if it were something major, it would start out looking like a bit of a slowdown.

asalvari1

@Anonymous:

I am sick of the conspiracy theories.

YO ALL. THE NUMBERS ARE JUST FINE.

there is a bit slowdown, but noting major.

asalvari1

@Numbers:
yah

go and see for yourself here:
http://agentwill.com/weekly-stats/

yeah, total disaster.

Anonymous

@Numbers: say what? seriously? don’t we have anyone in here with some numbers access? what happened to paulb clone that posted numbers for a couple of days?

Anonymous

@Best place on meth:

Why don't you go donate everything you own that is made or partially made in China?

Numbers

FYI word is that guys like Yattermatters are holding off on posting the latest numbers as they are not looking good, sales have fallen and listings are unusually high. Looks like agents will soon be pouring double doubles at Tims.

jesse

@N: Yeah, so here is a datum for a 2.3MM property in 2007, when property prices were significantly higher than today's:

In Los Angeles County, property taxes are roughly 1.25% of the purchase price of your property. So if you buy the house for $2,295,000 the annual taxes will be around $28,000 or about $2,400 per month.

So a $2.3MM property has a tax bill of $2400/month. Now imagine what Kelso's property was worth in 2007.

N

@Patter:

But property tax, at least in Vancouver, is calculated relative to your neighbors, and not in an absolute sense so, all things being equal, Ashton would pay more tax than a person living in modest home in Vancouver.

Devore

@jesse: If you have to ask, you can't afford it. All the more reason to question Vancouver valuations.

Patter

Property tax is based on value…not land area…

jesse

@Happy Renter: "Ashton’s house is in LA"

… and what do you think the taxes are on that property? It's on a 38,000 sqft lot. Couldn't find the tax info but my bet is it's a bit more than Vancouver's 33×122 mansions.

Laibach

Confucius == Supraboy, same retarded mentality, same limited mind frame.

Happy Renter

@Best place on meth:

Ashton's house is in LA, so you've got to put up gangs have gun fights on your front lawn which is something that never happens in Vancouver.

Really, that is insane how little 2.6m gets you here. That house has hideous landscaping, and based on experience I'd be surprised if it had central AC. This city has its head in the sand.

space889

IPhone and 90% of all smartphones are also manufactured in china and they don't suck nearly as bad, heck they are even pretty good. Maybe the issue is more on the design and software

than manufacture.

Manna from heaven

BPOM.

I know. Ridiculous isn't it.

Friday stats please.

Best place on meth

@space889:

If your Blackberry is a worthless piece of junk then there is a 99.9% chance it was made in China.

Best place on meth

@manna from heaven:

I'd rather buy Ashton Kutchers house for 2.6 million because it's a pretty cool home sitting on nearly an acre of land in the Hollywood Hills.

For the same price in Vancouver you can get this and if you need to borrow a cup of sugar from your neighbor just lean out the window.

http://www.mls.ca/propertyDetails.aspx?propertyId

paradox

@ scumbag

You pretend to be Chinese and never been to China and want to give us lessons starting with: …lets assume that 10% of chinese are middle class…

I think you are just a second generation spoiled chinese kid who have no idea of the reality in China and you parents have never told about it because it aint pretty and you were dam lucky to be born in Canada. Shame on you!

Devore

A few people complaining about being voted down are missing the point. You can be right, correct, insightful all you want. But if you're rude, condescending, abusive, and attacking people, you'll just get voted down anyways.

fixie guy

@168 space889 Says:"PS: after watching Inside Job and similiar documentaries, I find that all corporate execs in big western banks and everyone in finance industry are corrupt psychopaths with no morals…" Hell, I wouldn't disagree. A recent book expanded on the similarities between top corporate and sociopathic behaviour. You meant well but that might be the most accurate part of your post. The problem isn't 'all Chinese'. It's a certain immigration class that appears to be entering the country. If you buy the non-stop real estate industry hype they're extremely well off and capable of buying properties in cash, yet don't appear in census household wage figures and seem to be in contradiction of Mainland policy on movement of money out of the country. The pieces don't fit, criminal activity is one logical gap filler. Relax, the Chinese aren't alone… Read more »

fixie guy

@144 Confucius: Jesus, you're dim. When did I write anything about American media? I wrote about YOU claiming to be a Sino expert by marriage plus a few visits. Only someone who considers Abbotsford an exotic adventure trip would think that's believable.

Now fetch your customer his latte.

Confucius

@space889:

Great post. Good to see someone with some common sense here. Aloha, have a great week, I know I will!

patriotz

@chilled:

For those of you who have never traveled east of Aldergrove or North of Whistler, there is this huge economy in British Columbia called logging and mining.

You mean "was". The Southern Interior and the Island are now even more dependent on RE than the Lower Mainland is. That's why the house of cards is coming down there first.