Friday Free-for-all!

Well it’s the end of the week and hopefully you didn’t use up all your party energy on Wednesday. It’s time to do our regular end of the week news round up and open topic discussion thread, here are a few recent stories to kick things off:

Carney on housing and a brand new bill
BC: come for the mountains, stay for the riots
What’s more embarrassing, house prices or riots?
Are we world class yet?
Will housing market go the way of the Canucks?
Got insurance? keep all your reciepts forever
Condo needs TLC, not available to TD employees
Carney warns on housing markets
UBC residents ask Premier to protect them from scary ghosts
BC Conservatives target strata owners
Vancouver Fans apologize to Boston for trashing Vancouver
Do you love your family enough to delay retirement?
Vancouver Realtor Survey: Less than 4% of sales to foreign investors

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

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Colonel
9 years ago

So true. Hoensty and everything recognized.

Absinthe
Absinthe
9 years ago

@Devore: Although they do make an argument to wage inflation, which does, to me, seem to be a bit specious because of the point you make – that most debt is short term. With no proof one way or the other I'd think that wages would inflate after consumer prices, not simultaneously to them, and unless credit standards are tightened, it could lead to More Debt.

I imagine an unspoken premise is that, via bankruptcy, there'd be some clearing of the household balance sheets.

Absinthe
Absinthe
9 years ago

@Devore: I suggest reading the article. They're suggesting the printing of money to eliminate federal debts. It's just bizarre to see the argument in the WSJ.

patriotz
9 years ago

@space889:

So you are comparing someone like Betty Fox to a criminal, drug addict, or prostitute?

Why don't you just give it up? You are coming across as an even bigger asshole than your heroes in the highrise.

Devore
Devore
9 years ago

@Absinthe: Won't interest rates go up? You can't inflate away debt. The majority of US debt is short term, I think the average maturity is around 3 years?

vreaa
9 years ago

Aftermath – Vancouver Riots 2011

'Theories of Causation', quotes, and links to related subjects of potential interest:

http://wp.me/pcq1o-2ys

vreaa
9 years ago

correction:

'Worker' may have, of course, paid cash.

Li Kai Shing
Li Kai Shing
9 years ago

Where is Lavishing Lick ?

Mummy IV is shooting soon.

Get off ass slacker…tell nurse 24 enemas a day and 12 Depends diapers is not covered by MSP….CRA maybe consider taxable benefit.

We have Libby Davies as the heroin…err heroine….

Trevor Linden is her stand in.

Luongo is behind the Caesar's concession making pizza…as per God's original plan..so it is written .

All tips go to sign Cory Schneider….give generously

what a " riot" bwahahahahahahahahahahahah

I off to North Van to see how concubine breeding mill is doing. Many orders from Whalley- Newton.

vreaa
9 years ago

'Worker' Gets $900K Mortgage – "Accused killer slipped back to B.C. to transfer his $1.6M home into his wife’s name. She started working as a realtor in 2011."

http://wp.me/pcq1o-2zq

Interesting multifaceted anecdote:

Crime proceeds pump housing prices;

RE as money laundering vehicle;

Self-employed self-declared income gets you $900K mortgage in 2006;

Husband indisposed gangster? -> consider becoming a realtor.

Anonymous
Anonymous
9 years ago

@space889:

Well said!

space889
space889
9 years ago

@patriotz: So Patriotz, you have no problem with having a halfway house, or drug addict treatment place, or a place like that downtown place that rents out rooms to prosititutes by the hour so they can conduct their work in safety, etc right next to your million $ home assuming you owned a place?

You say this is racism, lack of humanity, etc, I will say this is just spoiled rotten me first attitude exhibited by rich people who are full of themselves regardless of race. It's NIMBYism and it's just selfishness, but it's not an Asian thing, it's universal. The only thing Asian is what excuse/victim card they choose to play.

Li Kai Shing
Li Kai Shing
9 years ago

@chip:

They have schools in North Van ?

You pullink my leg?

I tink only trophy wife breeding facility ?

Usually ends up bad?

Anonymous
Anonymous
9 years ago

The Coming “Housing Prices Crashed Because Of The 2011 Riots” Meme

http://vreaa.wordpress.com/2011/06/16/the-coming-

Romeo Jordan
Romeo Jordan
9 years ago

Frack you too you dinkweed.

xyz
xyz
9 years ago

OK Kids.. Sorta off topic.. A free Popsicle to whoever can find me a link on the CMHC website that even discusses Rent vs. Buy scenarios. I'd actually LOVE to see a calculator on there.

Li Kai Shing
Li Kai Shing
9 years ago

Feeling smug?

Watch this…not for weak – hearted.

Financial Terrorism Caught On Tape! – Max Keiser (2011)

http://www.youtube.com/watch?v=iKRud5QY31E

Markets all rigged….like kosher Mah Jong game

jesse
9 years ago

Press conference about Greek debt situation delayed until after consultation with G7 leaders. Bizarre question of the week: how do you default without defaulting?

Patiently Waiting
Patiently Waiting
9 years ago

@chip: They've furnished it, as if that justifies 50% higher rent than (what I suspect) is the market.

I wonder if the landlord lives in the basement.

Check out the smug look of the barefoot woman on the couch lol.

chip
chip
9 years ago

Here's a real gem of a rental in North Van.
http://vancouver.en.craigslist.ca/nvn/apa/2445979

Just $3600 for 1400sf in a shared house which according to the ad "has an addict."

They mean attic but also not to be missed is the boast that they are a 15 minute walk to Fromme Elementary. Too bad it closed down last year.

crashcow
9 years ago

My new blog on investing is up! please check it out and leave a comment. I'll be discussing stocks, bonds, commodities and of course, RE.

http://alphahunt.wordpress.com/

Best place on meth
Best place on meth
9 years ago

@Anonymous:

If the inflow of cash is all you care about then you might also welcome Russian mafia, Mexican drug lords and various African despots who need a place to flee to.

This isn't a dumping ground for all the scum of the earth who have money.

fixie guy
fixie guy
9 years ago

@ 141 Anonymous: What's good about money flooding in disconnected to productivity? Don't forget, this is a social safety net society. People who don't need to work aren't a benefit, they're a liability. If it's the Yuan flying out of China, China benefits. They're struggling to keep its value low to maintain low wages and global manufacturing dominance.

A case can be made citizens pay and governments benefit both sides of the Pacific.

Anonymous
Anonymous
9 years ago

"their wealthy citizens continue to flee"

If they are fleeing China with large amounts of cash and coming here that is good for Canada but bad for China. Sounds okay to me unless you are worried about China.

Patiently Waiting
Patiently Waiting
9 years ago

What do you think of an investment that requires huge initial costs, crushing carrying costs, and produces a return of 29% after five years? Or a 5% return after three years? Or a 2% return after one year?

Such is the life of a Vancouver condo owner. And the media continues to ignore this, even repeatedly calling our condo market *HOT*

This is the BIG LIE of our times. Thrice in the last couple months, I've exchanged emails with reporters about this deception. They are in deep denial and don't want to hear it. They most certainly are condo owners.