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Friday Free-for-all!

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Hey! The weekend is nearly here! Lets do our regular end of the week news round-up and open topic economic discussion thread. Here are a few recent links to kick off the chat:

–Scotia: Soft landing for Canada, Vancouver will outperform
–BMO: Housing overvalued, future dip for Vancouver?
–Capitol Economics: 25% decline across Canada in 3 years
–Most liveable city, just ignore the drugs and crime
–Wealthy Chinese will save our market!
–Wealthy Mexicans will save our market!
–52% of Clark campaign contributions from real estate?
–“Skip a payment” turns 30 year back into a 35 year amortization
–Economist global house price tool
–ECB shocks markets with rate hike hint
–The Fall of Hong Kongs gilded generation
–

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

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patriotz
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Why you haven't seen any crackdown on tax evasion by immigrants or RE speculation by our "Conservative" government:

A botched delivery has laid bare the Harper government’s plans to win over immigrant voters by appealing to their social conservatism before an election that the party believes will be under way by March 29.

The unprecedented glimpse into the internal strategy of the famously secretive Conservative election machine reveals plans for saturation television advertising in Toronto and Vancouver that asks immigrant Canadians: “Isn’t it time we all voted our values?”

Of course in Harper-speak "our values" means being opposed to same-sex marriage, etc, not being opposed to getting something for nothing.

http://www.theglobeandmail.com/news/politics/lett…

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7 years 3 months ago
blueskies
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I have news for Harper et al

as long as you think you can reinstate
marijuana prohibition you will not
get your "majority" gov't you so
strongly crave…….

stupid is as stupid does

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7 years 3 months ago
Dave
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@blueskies:

It's time to give them a chance. They have managed things well for five years and the minority government situation is no longer healthy for the country. If they don't get a majority, we risk an unholy alliance between the NDP, Liberals and Separatists. That would not be good for BC.

The last I understood it, the Conservatives supported decriminalization. They only question was the amount.

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7 years 3 months ago
vreaa
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@Dave: "They have managed things well for five years"

—-

Easy to look like you're managing things well when you're letting people borrow and spend to the gills.

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7 years 3 months ago
Troll
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Hey where's Data Junk and his parabolic bond yields?

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7 years 3 months ago
registered
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registered
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@3 Dave Says:"It’s time to give them a chance. They have managed things well for five years…."

They're doing exactly what I predicted years ago, making election noises when the end game of their economic 'pumping scheme' is finally coming into view. I woudn't be so keen on seeing them re-elected, a third term cemented will bring the hammer down on your little RE party faster than you can blink. The CDN Republican party know they can't do it beforehand and win.

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7 years 3 months ago
Dave
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@fixie guy:

I think the link between Federal politics and local real estate is pretty thin. If anything, the Conservatives will give us a bump because Alberta will boom again and that money will flow into BC.

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7 years 3 months ago
reallydumpybear
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@blueskies: I don't think anyone but the NDP covet the retarded hippie pot head vote. Most pot heads can barely make it out of bed in the morning to go serve coffee or make burgers.

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7 years 3 months ago
specialfx3000
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@Troll: Silly Troll, Data Junk was only messing with you. Parabolic yields only applies to Tulips and Vancouver house prices.

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7 years 3 months ago
vreaa
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@Dave: "I think the link between Federal politics and local real estate is pretty thin."

—

hahaha

Thanks for the laugh…

[Send a note to the same effect to Flaherty.. He'll be please to hear he can stop sweating bullets about crashing our entire economy via mortgage criteria tightening..]

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7 years 3 months ago
registered
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@10 vreaa: Dave's typing from the CREA-verse, an alternate reality in which RE is local and federal policy has no impact, as opposed to Dave's post 3 in which NDP and Liberal policy does.

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7 years 3 months ago
Dave
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@vreaa:

Jim doesn't control interest rates. Jim doesn't control the supply, nor demand of real estate. Jim doesn't control wages.

The only way Jim affects us is via the economy. If the economy does well, then people are more likely to take on debt and vice versa.

At the end of the day, both the Liberals and Conservatives will manage the economy the same more or less. It's the NDP and Bloc that would drive it off a cliff.

Tightening mortgage rules will have a small short term impact, but in the big picture it's not very significant.

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7 years 3 months ago
patriotz' No. 1
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Dave,

Dave said: "Tightening mortgage rules will have a small short term impact, but in the big picture it’s not very significant."

For once, I actually agree with you. It's not really significant. RE in vancouver is going off the cliff sooner or later no matter whether the mortgage rules are tightened or not.

patriotz' No. 1 fan

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7 years 3 months ago
data junkie
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@Troll: First and last time I'll say this: I don't give handjobs to trolls. Get your jollies tard-slapping with someone else.

In case anyone else was interested in the question the troll pretended to ask: a 2% retrenchment the day after setting a 6-month high is hardly unexpected, especially given the way the Dow is shitting the bed today. Magic 8-ball says long term bond yields are going up, up, up on global inflation indicators.

Canadian grocery companies begin announcing price hikes… Loblaws just pooped in Cam Good's breakfast cereal.

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7 years 3 months ago
Anonymous
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@reallydumpybear: You really don't know British Columbians.

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7 years 3 months ago
reasonfirst
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@reallydumpybear:

Or you've led a very sheltered life….

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7 years 3 months ago
jesse
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@data junkie: "Loblaws just pooped in Cam Good’s breakfast cereal"

Guess who owns T&T.

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7 years 3 months ago
Troll
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@data junkie:

Magic 8-ball says long term bond yields are going up, up, up…

Now, that's actually a sensible statement, why didn't you start with that? Instead you spout some fear mongering innaccurate garbage about incorrect BOC dates and spiking parabolic yields, and hang on to that story even though you got called on it. I'll say it one more time, what we saw was a reverse of last week's plunge and a resumption of a slow march upwards. That's it, don't get your panties in such a bunch and do some more research.

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7 years 3 months ago
b5baxter
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An interesting article that explores the "houses are a good investment" and "prices never go do down" myths:

http://www.csmonitor.com/Business/Paper-Economy/2…
"Home prices falling to level of 1890s"

"In real terms, home prices today are comparable to 120 years ago……"

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7 years 3 months ago
Sold Out
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Let's sell all of our Real Estate (and resources) to wealthy Chinese Investors so our kids won't be able to purchase property; even if they make a good living. Instead they will be faced with the option of living under an enormous amount of debt or start a life elsewhere. Who needs to take over a country via war anymore when that country is willing to sell everything to the highest bidder.

Canada makes me sick.

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7 years 3 months ago
N
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@Sold Out:

"Who needs to take over a country via war anymore when that country is willing to sell everything to the highest bidder."

It's this thing called freedom and, yes, it does make war less likely. Are you saying that you would prefer isolationism and limiting bits for growth to war?

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7 years 3 months ago
Best place on meth
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Best place on meth
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@Troll:

>>>what we saw was a reverse of last week’s plunge and a resumption of a slow march upwards.<<<

That's the most sense you've ever made.

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7 years 3 months ago
Runawayscreaming
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The Telegraph story about Li Ka-shing and his obnoxious family is funny. As Vancouver's largest developer Mr. Li is treated like royalty by Vancouverites yet in his hometown of Hong Kong people are fed up with him.

http://www.telegraph.co.uk/news/worldnews/asia/ch…

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7 years 3 months ago
VRENGD
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I saw Legally Blond the musical yesterday. The theater was half empty even after ticket prices were slashed by 50%.

Combine that with the recent data about the plunge in restaurant revenues and what does it tell you?

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7 years 3 months ago
VRENGD
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@VRENGD:

By the way, it was a great show. I recommend going. It plays until March 6. We got top notch seats, lower orchestra, 10th row for $55 each, which is 50% off the original prices.

I tipped off some of my friends but they all recently bought houses and can't afford to go. Maybe the rich bears on this site will be interested.

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7 years 3 months ago