No F#(*!n@ Bailouts!

Noticed some interesting discussion here the other day about personal responsibility and bailouts.  This comment was from Frank Grimes:

I’ve been hoping for a while to see a blog post about preventing a bailout. We all have the general assumption that there will be a crash/burst/melt of the real estate market in Vancouver. Maybe an issue we should concern ourselves with is preventing governments at any level from spending money on flawed and doomed-to-fail subsidies and buyers grants in hopes of stabilizing the market. I see it as being a black hole of money (corroborated by the US experience), and feel that it would hinder the process of resource re-allocation back to parts of the economy that are more “productive”.

Here are a few of my thoughts, how about you guys?

Bulls: Prices are HIGH! If you bought years ago you can cash out and escape Vancouver with quite the bundle now.  Congratulations!  .. or you can let it ride and see if there’s even MORE money to be made!  Exciting times indeed, but how about this: Whichever you choose how about you agree now (while prices are high) that in the event of a housing market crash it’s caveat emptor?  Let’s not try the same failed bailouts and market meddling they’ve tried in the states, how about a real free-market eh?  You win some, you lose some.  No F#(*!n@ Bailouts!

Bears: Election coming, is this the right time to contact candidates and preemptively ask them to pledge to stand against housing market bailouts? In a way the Canadian market is pre-bailed out via the CMHC, maybe it’s time to ask candidates to look at limiting taxpayer exposure to a housing market crash?

Everyone: What is about housing that makes people believe there’s such thing as a free lunch?  Grow some balls and take personal responsibility for your buying decisions.  No one else is going to read your contract for you or protect your bank account, it’s all up to you.  If it’s worth it to you, BUY IT!  .. But FOR THE LOVE OF GOD don’t complain to anyone if it turns out you paid the highest price and nobody else thinks it’s worth that.  It was worth it to you right?  You wanted it, you got the loan, you bought it.  Just shut up and pay for it now, I don’t want to have anything to do with your decision, and I doubt any other taxpayers do, so let’s just say it loudly now:  NO F#(*n@ BAILOUTS!

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Romeo Jackass
Romeo Jackass
9 years ago

Please dont feed the troll "Romeo."

It cannot be that prick from Chipman's blog. That turd would not be stupid enough to comment here after being a hypocritical blow hard for so many years.

No one wanted to hear that turd's boasting about his clients on east hasting corners, his imaginary smoothness with blow up dolls, or his apptitude for ripping old ladies off.

He was a little kid that thought he knew everything.

Romeo Is a Moron
Romeo Is a Moron
9 years ago

March 29th, 2011 at 10:45 pm

McLoser:

I bought cheap and sold dear. As Charlie Sheen would say – “Winning!”

Your just a loser.

Now I’ll wait for prices to fall by a third and scoop in with an extra $120k cash on hand. Slick move, I’d say.

************

Lol – what a crock of shit.

You bought a little bachelor pad on the North Shore. No 120k profit asswipe, even if you did sell. Nice try loser.

Conduct your storytelling elsewhere.

logic
logic
9 years ago

dear romeo

you got lucky

please do not confuse this with intelligence

but please do enjoy your gains. I take it you are now renting and safely out of the market?

Romeo Jordan
Romeo Jordan
9 years ago

McLoser:

I bought cheap and sold dear. As Charlie Sheen would say – "Winning!"

Your just a loser.

Now I'll wait for prices to fall by a third and scoop in with an extra $120k cash on hand. Slick move, I'd say.

Shove some apples up your crabhole, that should improve your mood.

This is Romeo Jordan your bitching at, watch your mouth fool.

Romeo Jordan
Romeo Jordan
9 years ago

McLoser,

Yes numbknutz. I know things are slowing in the valley and will slow to a crawl here in Vantown soon as well.

I bought during a mid-cycle low and sold pre-March 18th, make a nice six figure hit tax free. Beat that fucktart.

Driver
Driver
9 years ago

Vancouver streets in a few years according to local press with respect to RE demand from China. More pressure on health care too.

http://www.huffingtonpost.com/2011/03/29/chinese-

Spec
9 years ago

What's with the sock puppets? Somebody's bored.. and their name could possibly rhyme with morton. Just speculatin' (but not on real estate because that would be just plain whacky).

In other news, for those who declare the March 18th deadline to be safely tucked away, it's a bit early to come to that conclusion. If, after the the next few weeks we see sales and inventory in normal ranges, then you will have the evidence you need to toot your horns.

lol cats
lol cats
9 years ago

past performance may not be predicative of future returns dear bears… but hey keep your chin up, you savings sit at a stellar 50K after renting for 5+ years; i hear winnipeg is a great place to retire 🙂

JR
JR
9 years ago

@VHB: VHB how does this compare to past sale/list ratios for March?

jesse
9 years ago

@McLovin: it could be the market has slowed in the Valley but it could also be too many Realtors chasing too few buyers. Smaller pie or smaller slices of pie. For Realtors it's pretty much the same result.

looking for stratama
looking for stratama
9 years ago

Where do I find strataman? I want to ask him some questions. Is he here? How can he be reached?

McLovin
McLovin
9 years ago

Funny little story from the trenches…

I was chatting with a contact who's wife is a 20 yr. Realtard in the Valley. Basically she's "shitting" because she has a full time assistant and things are so slow that she is not even making enough commissions to cover he assistant. She is considering laying her off or retiring.

This is an experienced Realtard and not some newbie.

Interesting. Maybe things aren't what they seem in the press.

Anonymous
Anonymous
9 years ago

Go away Romeo Jordan.

You had your 15 daily posts on Chipman’s Blog before you broke down and bought.

We don’t need you.

*****

Ya, screw off Romeo!

McLovin
McLovin
9 years ago

Go away Romeo Jordan.

You had your 15 daily posts on Chipman's Blog before you broke down and bought.

We don't need you.

VHB
VHB
9 years ago

March 2011 month-end projections

Days elapsed so far 15

Days missing 6

Days remaining 2

5 Day Moving Average: Sales 140

5 Day Moving Average: Listings 257

SALES

Sales so far 2527

Projection for rest of month (using 5day MA) 1118

Projected month end total 3645

NEW LISTINGS

Listings so far 4314

Projection for rest of month (using 5day MA) 2056

Projected month end total 6370

Sell-list so far 58.6%

Projected month-end sell-list 57.2%

Patiently Waiting
Patiently Waiting
9 years ago

@Nee-ne: Don't project your deceptive behaviour onto me. I think we all know who the sock puppet master is.

Nee-ne
Nee-ne
9 years ago

Patiently Waiting Says:

March 29th, 2011 at 6:56 pm

@lackzadatle: If you’re going to be an ass about it, I don’t need your numbers. I never really needed daily numbers, though I understand others like tracking them. Anyhow, go fuck yourself realwhore scumbag

_____

I think you forgot to change your handle "Best Place on Meth." Your other persona doesn't hide your angst ridden youthful rage.

Trumped
Trumped
9 years ago

March 29th, 2011 at 6:51 pm Romeo Jordan don’t worry, average sales will drift down below 130, and we’ll have some sub 100 sale days soon enough…realtors (well, let’s not forget the 80/20 rule, the better ones will do just fine) will start to bomb out in droves….they will push clients to reduce prices to attract a bid…don’t worry, its coming you MORON ____________ Lol, well here is a youngin' blast from the past! Good ol' Romeo Jordan whose famous line was always "dont worry, the trend is your friend." Mister, 'I follow the inventory on the North Shore and the trend is prices are falling." Of course, he kept repeating that mantra from 2008 on through 2009 as inventory shrunk and prices rose on Chipman's blog 🙂 Wow,your commentary here is as valuable as used toliet paper. Go back… Read more »

Patiently Waiting
Patiently Waiting
9 years ago

@lackzadatle: If you're going to be an ass about it, I don't need your numbers. I never really needed daily numbers, though I understand others like tracking them. Anyhow, go fuck yourself realwhore scumbag.

Romeo Jordan
Romeo Jordan
9 years ago

don't worry, average sales will drift down below 130, and we'll have some sub 100 sale days soon enough…realtors (well, let's not forget the 80/20 rule, the better ones will do just fine) will start to bomb out in droves….they will push clients to reduce prices to attract a bid…don't worry, its coming you MORON.

just wait for it – no, actually go buy a condo or two, keep the sales numbers pumped up, this is a never ending appreciation machine, ain't it!?

Nah, fundamentals always rule the roost in the long run, and this run has been long enough.

Loser!:0

Anonymouse
Anonymouse
9 years ago

@SourLemon:

"Stories of people getting tricked into sponsorship from a shedevil while on vacation are all too common in the news."

I can't even remember the last time I heard of one.

lackzadatle
lackzadatle
9 years ago

New Listings – 78

Back On Market Listings – 0

Price Changes -23

Sold Listings – 60

Vancouver All Areas*

New Listings – 243

Back On Market Listings – 5

Price Changes – 94

Sold Listings – 164

___________

Come on people! Vote up what is clearly a collapse in sales due to the March 18th rules! Yes, the collapse is here!

Oh wait, time to pick a new reason why prices will fall.

SourLemon
SourLemon
9 years ago

@chip 105 Your link states that the government may, out of compassion, forgive a sponsorship debt. It doesn't mean that my friend can encourage his inlaws to apply for welfare without him having any recourse. He would have to prove to the government that something needing compassion take place, be that a divorce, or him losing his job in order to get forgiveness of the sponsorship responsibility. Odds are that the sponsor and relationship is pretty darn stable to consistently post a high income for the 7+ years it takes for family class immigration. Spousal immigration on the other hand is where most of the social assistance is coming from. Stories of people getting tricked into sponsorship from a shedevil while on vacation are all too common in the news. So Joe, aged 22 falls for a diva while on… Read more »

cabby
cabby
9 years ago

patriotz Says: "You were doing OK until you got to that sentence."

Dummy, the questions is not where immigrants settle down but where are they in significant numbers. Kapish? or you have reading comprehension problem?

patriotz
9 years ago

@WFT?:

It is more relevant to ask, what is that as a total percentage of amounts billed to non citizens

Before this gets repeated too much, I think you mean non-residents. Do hospitals even keep statistics on citizenship of patients? They don't ask to see your passport.