Friday Free-for-all!
It’s the end of the week! Let’s do our regular weekend news round up and open topic discussion thread, here are a few recent links to kick off the chat:
-Local realtor accused of domestic slavery
-Canada’s worst city for home affordability
-The real problem with Vancouver house prices
-Vancouver rental vacancy rate continues to increase
-UBC Hospice gets final approval
-Never lost money on a sale, $47k in debt on fees
-American home equity near record low
-Chinas growing middle class earns between $9k and $75k a year
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!
June 13th, 2011 at 3:55 am
@Jesse
If you have a 1000 rmb note in your hand plus a land deed and a mortgate is that a liability or an asset?
@Patriotz
There's no point in discussing with you. You don't even address my points.
"That is just what the previous KMT government did pre-1949 and it was one of the major reasons why they lost to the Communists.
Learn a bit of history."
So you're saying a political that had been in existance for aproximately 30 years failed just because of rampant money printing? That's like the Abolish-HST saying how alberta has the lowest sales tax and the maritime provinces having the highest because of implementing the HST.
Maybe someone should learn a bit of discussing points instead of backhanded distractions.
June 13th, 2011 at 12:43 am
@Patiently Waiting: Oh, she can deal just fine. The condo is worth what she thinks it is worth, and she "won't give it away".
This is the special kind of stupid, where sellers with significant equity will hold out a year or more to get another $10k (while paying mortgage/expenses/dealing with tenant all this time), rather than drop the price and sell something they want to get rid of today. No one sells anything profitable unless they have to, even if they just want to cash out.
Unless of course she is in that elite group of sellers who are upside down on their mortgage after transaction costs.
June 12th, 2011 at 8:07 pm
@patriotz: Yeah, makes me think of someone I know who "can't sell" her condo. She's keeping it and renting it out (maybe at a loss). In reality, she just can't deal with what its really worth. Someday, it might sink in.
June 12th, 2011 at 7:58 pm
@Patiently Waiting:
No.
Unless they are trying to sell, homeowners won't catch on to a bust until they see abandoned building sites and foreclosures all around them. As I recall, according to polls most Americans thought that prices were still going up until the end of 2007.
And that also means that psychology does not have to change to bring on a bust.
June 12th, 2011 at 2:32 pm
@Ravishing Rick:
Hongcouver will become Mecca for all mainlanders disqualified in HK.