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blueskies
Guest
blueskies

lack of math skills may
explain some of the
bullish irrationality in
regards to YVR REIC

rp1
Guest
rp1
#1 @blueskies: People who think rationally tend to go the most insane. Issac Newton made a bunch of money on the South Seas bubble, got out early, and saw friends make far more. He plunged back in and lost everything. How many people have capitulated to the Vancouver bubble? I think everyone would, given enough time. Prices here have been very high for five years. Blame the government or the Bank of Canada, we all know what happened, but this is now "normal". People are borrowing against their houses for their children's down payment. This is seen as very low risk. We have an economy built on real estate and perpetual super low interest rates. Will Carney oblige? His actions so far indicate that he will. We are really doing many of the same things as China. The United States… Read more »
chip
Guest
chip

If you go to the source data it shows that immigrants performed far worse than citizens across all categories.

So two facts to chew on:

1) The test is supposed to assess the ability of respondents to work in a modern economy

2) Our immigration policy is supposed to increase the number of people here who can work in our modern economy

Conclusion? Our immigration policy sucks?

Anonymous
Guest
Anonymous

Richmond home prices skyrocket

Home prices in Richmond have reached a new high, the Real Estate Board of Greater Vancouver reports.

Over the past year, the price for detached homes in the Vancouver suburb has climbed 20 per cent, or about $215,000, the board said.

The median price for a detached home in the Garden City is now hovering just above the $1-million mark, up from $885,000 just six months ago and $879,000 one year ago.

http://www.cbc.ca/news/canada/british-columbia/st

Patsy Hui, a Richmond real estate agent, said although it is "such a lovely place," it's not the inherent beauty of Richmond that's driving prices: It's the investors.

"All kinds of people, but mostly people originated from mainland China," Hui said. The prices may seem high to us, she added, but present a "real deal from a world point of view."

cgh
Guest
cgh

@chip:

Only 17% of immigrants enter the country on skilled worker visas. The rest are investor class or family class. So a high rate of innumeracy is no surprise with such a misguided policy.

registered
Member
registered

@2 rp1: Newton was brilliant but not exactly what today would be called stable. And it's pretty harsh to hold someone to account for investing in the first real bubble when the concept of banks was so new the paint was still wet.

Today, however, people are sucked into a bubble that started as the last one -dot.com – was still unraveling. Harshness is warranted.

paradox
Guest
paradox

Dont blame the kids or immigrants for the poor results.

Our school system sucks.

Most teachers dont give a dam about your kids education. Their main concern is their unionized salary.

How often does your kid come with homework from school?

Never, it is too stressful for the kid, too much work for the teachers, there is always some expert to rationalise anything.

Why teachers hate standartized testing?

If you have kids going to public school and go regulary to the meetings, you already know how rotten our school system is.

jesse
Member

@Anonymous: "“All kinds of people, but mostly people originated from mainland China,” Hui said. "

Originated from Mainland China? So are they locals or foreigners?

Best place on meth
Member
Best place on meth

What's up with Richmond?

I thought the Chinese were great at math.

patient renter
Guest
patient renter

so, yeah, Richmond prices shoot up 20% in 6 months, but it has NOTHING to do with foreign investment.

I'm all for the fact that the MSM spin facts, and that realtors are scum. However, if you continue to stick your head in the sand and pretend that the wealthy rich asian myth is a myth, you're delusional.

We need to accept it's real and then demand that our leaders take action to curb it, as they did in Australia.

Tax the hell out of speculators, so at least we are getting something out of it.

Renting
Guest
Renting
Issac Newton made a bunch of money on the South Seas bubble, got out early, and saw friends make far more. He plunged back in and lost everything. I think people can do the math. It is just simple logic they are missing. Like where is the next greater fool going to come from? Not correlating the decline in interest rates and easy credit with the rise in Real Estate and then thinking what happens when both trends reverse. There is a big difference between a Real Estate bubble and other bubbles such as the South Seas. In Real Estate most of the investment money is borrowed. You lose more than everything. You lose everything and then some. At least with the South Seas bubble, etc most people only lost the money they invested. With Real Estate it will be… Read more »
Anonymouse
Guest
Anonymouse

Where would there be "insufficient data" for some of the city's most populated areas?

Anonymouse
Guest
Anonymouse

@cgh:

"Only 17% of immigrants enter the country on skilled worker visas. The rest are investor class or family class. "

Or they obtained Permanent Residence before entering Canada.

jesse
Member

@patient renter: "We need to accept it’s real and then demand that our leaders take action to curb it, as they did in Australia."

Yeah the Australian government took "heavy" steps to curb foreign investment — they successfully deflected about 70 foreigners from buying over 9 months.

And with that butterfly flap, Australia's property prices are starting to fall.

900kCrackHouse
Guest
900kCrackHouse

@patient renter:

Asian speculators driving the Vancouver market? That is crazy speculation! It can't be true. It's really white people wearing asian masks with false Chinese accents and passports buying all the houses. CHMC is happy to ante up 1.2 million to one of these mask wearing white people as they buy a crack house in Richmond.

I can't believe that people on this board still subscribe to the myth that the majority of current demand in Richmond and the west side is locally driven. I agree, we need to write/call our MPs and MLAs and get something done about this. However, nothing will happen. There are too many people with their hand in the pot making a killing for anything to happen here. Self interest will rule.

Absinthe
Member
Absinthe
@paradox: True of so many. Like: "Most bankers don't give a damn about the economy. They just care about their million dollar bonuses." "Realtors don't give a damn about [oh, do I have to pick only one?!] They just care about their commission." True mensches, who are in their profession mainly for the love of their customers and their field, are rare. So I find teacher hating bewildering. Lots of people in lots of professional streams are there, in large part, for a middle class salary! How many of my dentists have loved teeth passionately, I want to know? And yet the vast majority of the teachers in my kids schools have been motivated, caring people. Which is more than I can say, frankly, for pretty much any other class of business person I've met. I had a friend encourage… Read more »
LY
Guest
LY

don't understand why paradox comment was voted down when it is true. Quality of education in Richmond school sucks based on my experience with my 2 elementary kids. No homework, lots of playing time in playground and gym and less time studying. The math they teach to my grade 5 kid last year was the math I had when I was grade 2-3 in Asia. I had to teach my son more advanced Math at home to compensate.

registered
Member
registered

@14 jesse Says: "Yeah the Australian government took “heavy” steps to curb foreign investment…"

Expect the same here, 'concern theater' portrayed with ineffectual and easily avoided regulation. Harper's too focused on picking the perfect shade of 'evile' red for the next Ignatieff attack ad.

patient renter
Guest
patient renter

@Jesse….what was I saying about head in the sand?

@900K crackhouse..I agree, the problem is the people with power are all home owners. What interest do they have in extinguishing the easiest winfall ever known.

Devore
Member
Devore

@LY: There is more than one leap of faith in Paradox's post.

One, that today's poor adult literacy in Richmond is result of bad schooling. Two, that most Richmond school system graduates have remained in Richmond.

To mention nothing of the ad hominem on the teaching profession. Our system of teaching may not be ideal, it certainly isn't for everyone, and there are definitely bad apples in the bunch, like any other. Blame teacher's union for bad teachers remaining in the system, blame administrators for setting an embarrassing, populist, politically correct curriculum with no benchmark tests. Painting all teachers with the same brush does not accomplish anything.

kansai92
Guest
kansai92

@chip:

Absolutely not.

The immigration policy is to achieve two things.

1. bringing in "investor" class (basic head tax)

2. bringing in people who will take the jobs that Canadians aren't willing to do.

UnagiDon
Guest
UnagiDon

The title of the Globe&Mail article is

"How Canada scores in *math* skills across the country"

But their caption is

"Green on the maps indicate areas with high levels of *financial* literacy"

So, which is it math skills, or financial literacy?

kansai92
Guest
kansai92

It doesn't matter where you come from or your nationality.

Irrationality does not discriminate.

A ponzi scheme is still a ponzi scheme regardless in the entrants

are local or foreign.

The rich asian buying with all cash is simply hoping that another

rich asian comes along a pays more later.

DaMann
Member
DaMann

@Absinthe:

I'm not going to bash teachers, they do a good job that is stressful. HOWEVER let's not kid ourselves, they get 3 MONTHS vacation a year, yes 3 months. So please don't say average or middle pay. Pro rate their salary to 12 months and they make $100k a year. My wife is/was a teacher. If it is such a bad hardship profession then why is it impossible to get a teaching job? How many teachers do you know that actually leave the profession? pretty much none.

If I could get a job that paid me $60-$70k a year with 3 months off, great pensions and benefits I would snatch anyone's arm off to get it, and so would anyone else.

The Leak
Guest
The Leak

Damann

Forgot one major point. Before you start prorating, figure out how many hours are these teachers work during the months they are?

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