Friday Free-for-all!
It’s the end of the week! Time for our regular weekend news roundup and open topic thread. Here are a few recent stories to kick off the chat!
-Will the housing boom last indefinitely?
-Canada economy skids, but housing strong
-Royal LePage: House prices have peaked
-Hold off to buy a new house
-Reports stress balance in analyzing Vancouver prices
-What neighborhoods are hot or not?
-Victoria prices on the decline
-Discount realtors merge to shake up industry
-
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!
July 7th, 2011 at 7:34 pm 1
The crushing weight of student debt
So who exactly is supposed to buy all those houses that the boomers plan to unload to fund their retirements?
Like or Dislike:
0 
0
July 7th, 2011 at 7:41 pm 2
"Will the housing boom last indefinitely?"
Even the Americans were not that stupid.
Like or Dislike:
0 
0
July 7th, 2011 at 8:00 pm 3
@rp1:
http://www.amazon.com/Real-Estate-Boom-Will-Bust/…
Check the publishing date.
Like or Dislike:
0 
0
July 7th, 2011 at 8:42 pm 4
"The situation is so critical that, in British Columbia, the heads of four of the province’s leading research universities appealed to the provincial government to do something to alleviate the financial stress B.C. students are facing."
——–
Um, BC doesn't have four research universities. Not by any meaningful international standard, that is.
Like or Dislike:
0 
0
July 7th, 2011 at 11:10 pm 5
"So who exactly is supposed to buy all those houses that the boomers plan to unload to fund their retirements?"
Rich asians.
Like or Dislike:
0 
0
July 8th, 2011 at 12:01 am 6
US jobs number for June is completely fracked. Downward revision for May. And that's after doubling the federal debt.
But Canadian job # looks great:
"Public-sector employment grew by 50,700 people in June, private-sector employment was up 21,900, while 44,200 fewer were self-employed."
Wait a second …
Like or Dislike:
0 
0
July 8th, 2011 at 12:16 am 7
Move over Calgary, we now have our very own mortgage fraud:
http://ca.finance.yahoo.com/news/Former-Vancouver…
Like or Dislike:
0 
0
July 8th, 2011 at 12:58 am 8
@WFT?:
You should say Chinese who is the major factor of Vancouver's perpetual boom which has made 75% of vancouverites become millionaire;indeed,Vancouver has the high number of millionaire in the world.Canada prosperity is solely depended on China which has become the number one trading partner of Canada.In the future,Canada will need China millitary assitance against US aggression.Vancouver is a ideal site for Chinese naval base.
Like or Dislike:
0 
0
July 8th, 2011 at 1:01 am 9
@patriotz:
Unfortunately,US doesn't have China's financial backing as Vancouver does;you guys should gratitude such generous help.
Like or Dislike:
0 
0
July 8th, 2011 at 1:05 am 10
@Extremely rich Van house owner.:
>>>In the future,Canada will need China millitary assitance against US aggression.<<<
That should be the other way around.
Like or Dislike:
0 
0
July 8th, 2011 at 1:10 am 11
I have often visiting this blog but never posted. I came to Canada 16 years ago. We emigrated from the Middle East. The process was very long and difficult. We had to have every document translated, and go thorugh a couple of interviews. The officer asked us about exactly where our money (which was small) came from, what languages we spoke- he was impressed my wife was fluent in French, asked why we wanted to come to Canada
When we got the visa, we felt like winning a lottery, we were so happy. It took me a long time to get going here, I took any jobs and worked for up-dating my technical skills and English. Finally I got a good job and after a few years I started my own small tech company. It is over ten years now. I have four full-time employees-2 Canadian (many generations), 1 Serbian man, and 1 Chinese lady and a few contract people too. I am proud that I am helping give four families good incomes, and that we do 80% of our work here, but 60% of business is from outside Canada. also I am very grateful to Canada for this opportunity.
What has this with real estate? A lot. I still live in a very small town-house with two children. My employees were shocked at Christmas to see how small and my wife keep bugging me to move. But I tell her, some months I have to borrow from line of credit to make the pay-roll, if we had a big mortgage too it would put me under too much stress.
This has been a big trouble at home and every time it looks like the market comes down a bit, something pushes it up. The government does some tricks or they let in a lot of people with money (without asking any questions) and we lose the chance to move to move up.
My empoyees too have the same problem.
Like or Dislike:
0 
0
July 8th, 2011 at 1:20 am 12
ali, I hear ya (as another immigrant)
then again, it still beats getting bombed by Gaddafi or the americans, hey?
Like or Dislike:
0 
0
July 8th, 2011 at 1:21 am 13
Sale/list ratio < 40%
New Listings – 262
Back On Market Listings – 1
Price Changes – 96
Sold Listings – 104
*Attached & Detached – Date: 07/07/2011
Like or Dislike:
0 
0
July 8th, 2011 at 1:29 am 14
@Not much of a name…: If both families' housing price are the same then how would they be treated differently? I'm saying include asset, NOT net worth, as eligibility criteria. In your example, the government would treat both families the same because how they financed the house is irrelevant.
Like or Dislike:
0 
0
July 8th, 2011 at 1:33 am 15
@looking for a house, but failing: I used the transit every day to and from work and I have never even owned a car. So great deductive power there.
Go look up the transit stats, the total usage rate is less than 25% for GVRD. Most trips are still done with cars, not transit. Go stand at a busy downtown intersection or Broadway during rush hour and count how many single occcupancy cars there are.
Like or Dislike:
0 
0
July 8th, 2011 at 1:44 am 16
@Derp Derp: Well what's alternatives you offer? Are the rich countries offering clean high tech pollution control technologies to 3rd world countries for free to use? Companies build in 3rd world countries precisely because these countries don't really have a good choice. Either accept the pollution as price to gain technology, jobs, and increased wealth and slow upgrade/move up the value chain, or stay exactly where they are with no money and resource to do much. If you don't have money and limited knowledge, there is very little choice in what you can do in the globl marketplace to modernize your economy.
It's only when a country gets rich enough on average that citizens start caring about pollution, starts forcing companies to be more environmental responsible, etc. Everyone wants a good life and have to make certain choices and sacrifices to get it. For the poor countries, environment is one of the easist and cheapest thing to sacrifice for them.
As well, you say don't be like North Americans but North Americans live the best life on the planet and everyone wants that. You can say we can live the good life but you guys over there have to accept a lower standard of living for the good of the planet. That's not going to be very convincing.
Like or Dislike:
0 
0
July 8th, 2011 at 1:45 am 17
@Best place on meth: The USA will need Chinese military assistance against Canadian aggression?
Like or Dislike:
0 
0
July 8th, 2011 at 1:47 am 18
@patriotz: Uhm…I thought student loans is one of those debts that aren't discharged in bankruptcy? Now declaring bankruptcy and move to other countries for better job and pay might be the way to go for some people.
As well a spike in bankruptcy will likely cause interest rate to go higher for future borrowers are lenders build in higher default rates into their loan pricing.
In the end I doubt much will happen as most boomers have very little sympathies from the comments I read in these types of stories and they are the ones in charge of policies right now.
Like or Dislike:
0 
0
July 8th, 2011 at 1:53 am 19
@logic: According to the Vancouver Sun article asking if we are world class, UBC is a world class research university while SFU is a world class university offering the best comprehensive undergraduate studies. UVic is supposed to be one of the top law schools in Canada which also automatically means one of the best in the world. So if someone can name just one more university that's ranked high in some study and we can claim 4 research universities with a relatively straight face.
Like or Dislike:
0 
0
July 8th, 2011 at 1:59 am 20
"So who exactly is supposed to buy all those houses that the boomers plan to unload to fund their retirements?"
Sorry Patz, but national student lobbying groups such as the Canadian Federation of Students (CFS) are extremely well funded lobbyists, and always get the attention of the media.
They have been lobbying on the same "average student debt = 30k, we have crushing debt loads" campaign since the late 1990s. It sure has not prevented a bunch of twenty somethings from jumping in and buying for the past ten plus years.
If you really think that student debt is going to prevent people from buying, then you are out to lunch. This generation is not debt averse, but rather embrace debt wholeheartedly, and proudly. You should really know this buy now.
Like or Dislike:
0 
0
July 8th, 2011 at 2:00 am 21
oopps…"by now"
all those realtor messages of "buy now" must have got to me..
Like or Dislike:
0 
0
July 8th, 2011 at 2:04 am 22
@chip: "Wait a second …"
Private sector employment increases; all this talk of austerity and yet here we are!
Like or Dislike:
0 
0
July 8th, 2011 at 2:10 am 23
Some of the funding for the Evergreen Line MUST come of property taxes. Who stands to benefit from the line? Guys who have homes in Coquitlam and along the way. After all your home is valuable because of ACCESS.
Like or Dislike:
0 
0
July 8th, 2011 at 2:11 am 24
@CheChe:
People can only take on so much debt. If all it took was a willingness to take on more debt to keep bubbles going, we would never have seen a bust in the US or anywhere else. Reality always trumps attitudes in the long run.
Like or Dislike:
0 
0
July 8th, 2011 at 2:15 am 25
@jesse:
Strip out the govt hiring and we would have lost over 20,000 jobs. And note most of those private sector hires were part time.
Like or Dislike:
0 
0
July 8th, 2011 at 2:20 am 26
@chip: "Strip out the govt hiring"
Yeah… in other words even with low corporate taxes, "pro-business" governments, and record low costs of capital, businesses aren't hiring.
Like or Dislike:
0 
0
July 8th, 2011 at 2:31 am 27
@space889: Student loans are discharged by bankruptcy if you've been out of school for 7 years.
Like or Dislike:
0 
0
July 8th, 2011 at 2:45 am 28
I love Extremely Crazy Vancouver Crackhead's post.
Does anyone else think he's some DTES junkie the EMT guys have strapped to a gurney, only to have him bust his restraints with some kind of super junkie strength? I can see him running to the nearest Internet cafe to post, willy hangin' out of his pants, eyeballs popping out of his head, dirty, urine caked clothes and tangles matted hair flapping in the breeze?
I can just imaging him screaming (Dave Chapelle style) "75% of Vancouverites are millionaires!!! I'm RIIIIIIIIIIIICH BITCH!!!"
Just sayin'
Like or Dislike:
0 
0
July 8th, 2011 at 2:51 am 29
@space889:
i'll be really, really brutally honest here..
in lieu of recent world events
i can't care about the rest of the world
i care about this country, and by extension the US and the rest of the west.
therefore, i am in favor of massive tariffs.
MASSIVE TARIFFS, and while we're at it, a total end to the investor immigrant program. with all the nasty consequences that follow.
how does that sound?
Like or Dislike:
0 
0
July 8th, 2011 at 3:04 am 30
Around 2004, a co-worker who had student debt in collections somehow managed to buy a condo. I think he might have had family help.
After "owning" it a couple of years, he re-financed and "paid off" that student debt. Started fresh again, ordered credit cards.
Mind you, condos really were appreciating at a fast clip then. You can't do that now.
Like or Dislike:
0 
0
July 8th, 2011 at 3:06 am 31
@chip: Census
Like or Dislike:
0 
0
July 8th, 2011 at 3:15 am 32
@kansai92: It sounds like the Provincial Government is co-operating on the gas tax. I'm kinda surprised as an election is coming. I wonder if Crusty will play a clown joke on them.
Like or Dislike:
0 
0
July 8th, 2011 at 3:30 am 33
As well, you say don’t be like North Americans but North Americans live the best life on the planet and everyone wants that. You can say we can live the good life but you guys over there have to accept a lower standard of living for the good of the planet. That’s not going to be very convincing."
__________
Don't worry, once third world locals start dropping from pollution related diseases, when their farmland has been converted into factories and there is nowhere to grow food, when their drinking water sources are either evaporated or dried up, then they will learn the price for their "progress" and "higher" standard of living.
Yup, give it another two decades, and China's environment will resemble that of the moons.
Canada just better be prepared to defend themselves from "environmental refugees" and aggressive resource acquisitions (in whatever form them take – economically or militarily).
Like or Dislike:
0 
0
July 8th, 2011 at 4:30 am 34
@kansai92: "Who stands to benefit from the line?"
As well as the home owners along then line, surely everybody who uses the roads/bridges which are likely to be relieved by the new route will benefit.
Businesses along it will probably benefit, not only from having additional customers, but also having a slightly larger pool of potential employees to hire from. If businesses are benefiting, then the taxpayer will too.
I think lots of people will get at least something positive from it, not just those who happen to own a home within walking distance of one of the stations.
Like or Dislike:
0 
0
July 8th, 2011 at 4:38 am 35
@jesse:
Jesse, have you ever started a business? If everything is rosy maybe you should.
Like or Dislike:
0 
0
July 8th, 2011 at 4:50 am 36
@logic: According to the Vancouver Sun article asking if we are world class, UBC is a world class research university while SFU is a world class university offering the best comprehensive undergraduate studies. UVic is supposed to be one of the top law schools in Canada which also automatically means one of the best in the world. So if someone can name just one more university that’s ranked high in some study and we can claim 4 research universities with a relatively straight face.
—————
You've only pointed to ONE research university in that list. As you say, SFU is a good comprehensive university (although in no way World Class); UVic has a good Law School (teaching). I'm still only counting one.
Like or Dislike:
0 
0
July 8th, 2011 at 5:30 am 37
@Ali:
Good post. You are just the type of person we need in Canada. Someone who works hard and will add to the prosperity of the country and I a multigeneration Canadian as you called them
What we dont need is absentee owners, laundered money, satellite families, tax-evaders etc
Like or Dislike:
0 
0
July 8th, 2011 at 5:37 am 38
@Chip:
You are missing Jesse's point, which is no matter how nice government is to them, if there is no demand for their products or services businesses are not going to invest or hire.
Like or Dislike:
0 
0
July 8th, 2011 at 5:42 am 39
@Chip: "have you ever started a business? If everything is rosy maybe you should."
I never said everything was rosy. Why would I start a business when real incomes are shrinking? Other businesspeople think so too, much to the chagrin of Flaherty and Carney, or there would be more job creation than we're seeing.
I don't know the right answer but if unemployment is high, it appears at first glance that businesses are going to be loath to spend. When unemployment starts dropping to below 6% or so, I see there a much better chance of building business cases. If you believe the ideas of Keynes, that means governments should undertake deficit spending to produce full employment. Right now this isn't happening, and for what it's worth business spending is weak.
Like or Dislike:
0 
0
July 8th, 2011 at 5:42 am 40
@Patiently Waiting:
I don't understand the gas tax hike for the Evergreen line. Why not use the "carbon tax" and put that money straight into transit. The whole carbon tax thing is a ridiculous joke. Adding a tax to gas and then giving that money back to low income and small business does what for the environment exactly? I have heard it is supposed to discourage driving because of higher costs? WTF. Gas prices have tripled in the last 10 years and driving has gone up. So obviously it DOESN'T work! Now if you ask me a carbon tax should have all income go into transit, that will get more people off the roads. No reason to add more damn transit tax, use the F#$%^^ ridiculous carbon tax and fund transit! Jesus is it that hard????
Like or Dislike:
0 
0
July 8th, 2011 at 5:42 am 41
Yup
Like or Dislike:
0 
0
July 8th, 2011 at 5:43 am 42
@Anonymous:
Whoops, that post was mine
Like or Dislike:
0 
0
July 8th, 2011 at 5:45 am 43
16 space889 Says:"Either accept the pollution as price to gain technology, jobs, and increased wealth and slow upgrade/move up the value chain, or stay exactly where they are with no money and resource to do much. "
False dilemmas, how do they work? China's wages are a fraction of North America's, a cost of living equally low and the benefit of not having to capitalize decades of pollution control research. Canada 'owes China'? How much does the PRC pay you to spew this pathetic crap?
Like or Dislike:
0 
0
July 8th, 2011 at 5:52 am 44
Evergreen Line?
Get WITH the program….
Review Metro Van (4th Gov't) Regional Growth Strategy
This was simply a charade, they all hugged , kissed and made up…like WWF is real ???.
ANY Canada Line extension to a given Local Gov't is the 6/49 win for the Local Gov't.
Once it is in place….the attack has begun.
They can justify " Master OCP " ie MVRGS…and start the diaspora of businesses(easy victims versus NIMBY) along the planned route.
The attack vector is BC Assessment.."higher and best use"….force owners via outrageous and unaffordable to sell to likes of BOSA, Aquilini , Onni etc. to sell more ghost condos.
F*ck Metro and the Whores they rode in on…
The problem is that these idiots think the HAM etc was infinite…but the mess will be higher taxes for all.
Like or Dislike:
0 
0
July 8th, 2011 at 5:56 am 45
@Anonymous: It is basically a tax grab. We are subsidizing the government for their out of control spending. I know what I will be doing this weekend, drive a few extra miles to get my gas and cheeze.
Like or Dislike:
0 
0
July 8th, 2011 at 5:59 am 46
Metro politicians quietly take formula-driven pay raise
http://www.bclocalnews.com/tri_city_maple_ridge/m…
Civic politicians who sit on Metro Vancouver's board or one of its committees quietly pocketed a modest pay hike this spring.
The 2.5-per-cent increase happened automatically because a Metro bylaw, passed a few years ago to end the bad optics of politicians voting on their own pay, requires the meeting fees to be recalculated each year according to a formula.
The director fees are pegged to the median (mid-point) of Metro Vancouver mayors' salaries.
=====================================================
Read these number BEFORE supper so yah don't Projectile Vomit
OINK OINK OINK ……………pigs at the trough
Like or Dislike:
0 
0
July 8th, 2011 at 6:01 am 47
@Absinthe: I see….but that means they have to 7 years first paying the minimum payment and then 7 years of bad credit history following a bankruptcy for a total of 14 years. Granted there might be a new housing mania by then but still a fairly long time to wait to get the debt discharged and can start borrowing again.
Like or Dislike:
0 
0
July 8th, 2011 at 6:03 am 48
@bubba:
Oh that's so awful, having the market value of your house double so you can sell and buy an equivalent house a few km away in a quieter location and pocket a million or so, tax free.
Put away the violins.
Like or Dislike:
0 
0
July 8th, 2011 at 6:08 am 49
@Anonymous:
The government takes in $X in taxes and spends $Y. Y exceeds X so we have a deficit = Y – X.
Playing games about which taxes go to which services does nothing to change this. If the government increases spending, that means either an increased deficit or increased taxes.
Like or Dislike:
0 
0
July 8th, 2011 at 6:12 am 50
@fixie guy: There is 1.5 billion people in China, a $1 Trillion dollar in income works out to be about $1000 per person. To approach US, EU, Japan level salary in today's dollar, China's GDP has to be around $30 Trillions?? which is what I think the world GDP currently is?
As for living standards, most places have seen big improves with the biggest improvements seens in the coastal cities. It is not luxury North American level yet but it is leaps and bounds better than what it was 30 years ago. As I said things take time when you are dealing with 1.5 billion people. Just simply building new housing for every rural family in China at current capacity would probably take another 30 years, never mind rebuilding old housing stocks.
No one owe anyone anything. But if US/Canada are going to criticize China for bad environmental practices that itself did while it was a manufacturing giant, with most damaged done by American/Canadian companies directly/indirectly, then it should also offer China a better way to do things like giving pollution control/clean up tech for free/minimal fee rather than charging an arm and leg for it. Anyone can criticize, it's those who actually do something to make things better that makes the true difference. If you can help but simply stand back and criticize and berate then you are no better than the ones you are criticizing and refusing to help. Either put up or shut up.
Like or Dislike:
0 
0
July 8th, 2011 at 6:14 am 51
I was sent this…..
Amazing technology….
I wonder if the authorities in B.C. are using this technology
to round up those who disgraced our country. Quite amazing.
Check this out ..
This is the photo taken by PoMo photographer Ronnie Miranda that appeared in our Tri-City News last Friday (24-June).
When you open this up, check the left hand side where you can upsize the photo, and click on the Yellow print “view with GigaTag”.
This is actually scary. You can see – perfectly – the faces of every single individual – and there were thousands!
THERE IS NO PRIVACY..who’s kidding who?????
http://www.gigapixel.com/image/gigapan-canucks-g7…
Like or Dislike:
0 
0
July 8th, 2011 at 6:16 am 52
@patriotz: uhm…weren't you complaining about families who bought responsibly a decade ago who would be forced to sell if their assets was included in whether they get benefits from government or not just yesterday? Now if their asset went up because of say a new skytrain line and they have to pay more property taxes then it is suddenly ok to sell and pocket tax free gain?
WTF? Be fracking consistent. Both case you presented family could be forced to sell and pocket a huge tax free gain due to circumstances beyond their control. So they are either both good or both bad.
Plus, weren't you also complaining about family bought responsibly being victims of bubble?? Sudden a new skytrain line jacking up their assessement value makes them a winner but not victims anymore?? geez
Like or Dislike:
0 
0
July 8th, 2011 at 6:17 am 53
@space889:
China is already the world's biggest technology thief and we're supposed to give them a bunch more for free?
I can remember when Canada bought nothing at all from China. Living standards here were about the same but in China they were about at the bottom of the world as you've said yourself.
So who's doing who a favour already?
Like or Dislike:
0 
0
July 8th, 2011 at 6:21 am 54
@space889:
I am being consistent.
You are confusing an across the board increase in housing prices – which does not result in increased property taxes under MVA and does not result in an increase in real wealth – with a localized increase for a small group of properties which really does represent a gain in real wealth for the owners.
I made these distinctions perfectly clear so I guess you weren't paying attention or are pretending you didn't.
Like or Dislike:
0 
0
July 8th, 2011 at 6:35 am 55
@patriotz: Is RIM stealing technology from Apple with their playbook? Apple came up with the idea, concept, implementation, and marketing and created the touchphone and tablet market. You could even say that touchphone and tablet are an Apple invention that everyone else is now stealing and putting out clones. How about MS stealing the graphics OS from Apple who in turn stoles it from Xerox??
Please remember intellectual patent laws were a relatively new invention in the world, started in the West. Most other places in the world (not just China) have different views on this stuff. You are saying China steals techology because Chinese companies flount Western and lately their own patent and copyright laws. While I bet a lot of Chinese entrepeurers think differently.
Also remember, patents are granted on a country by country basis based on that country's law. So a patent granted in US has no effect in Canada (assuming there is no treaty on it) so Canadian companies can copy and steal any US technology not patented in Canada. Granted the said Canadian company wouldn't be able to do any business with US. Similarly a lot of stolen technology in China is stolen the same way. The patents are either not registered in China (which probably doesn't even have the laws back in the 90s), or registered but not backed by any enforcement.
So yes, China steals technology, but in reality so does everyone else. The only difference is the degree of stealing that is legally allowed and punished, and the different definitions of stealing. You might think all Chinese brand LEDs are stolen technology from the West. Chinese manufacturers would counter that the basic science behind it can't be patented and they are simply using their own production technology to produce it. You can argue this stuff until you are blue in the face but no side is going to convince the other side of anything nor is it going to change economic reality too much.
Like or Dislike:
0 
0
July 8th, 2011 at 6:41 am 56
@patriotz: It's not different from the individual's point of view. If I owned a house and that house went up say $500K in value and now I have $300 more expense per month to pay, either because I lose $300 I used to get from government or I have to pay $300 more to government from increased property tax. At the end of the day, I have a house worth $500K more and $300 extra expense I didn't have before. How is it different for me as an individual whether the house price increase in general or localized due to skytrain? If I have to sell then I have to sell.
Yes I know you say I can sell and rent or buy in a cheaper location, etc, etc. But again it doesn't change the fact that I have to sell and move. In your case of skytrain the rents in the immediate area will likely also go up so I have to move further out. So how is it different for me, the houseowner?
Like or Dislike:
0 
0
July 8th, 2011 at 6:44 am 57
@patriotz: btw, how much more would your sweater and TV and everything cost if all of them were made in Canada? Would quality be better? In the case of US, who would have funded their deficit if China and Japan didn't run huge trade surplus and tons of money to buy US$? If there is no benefit then China and India would be able to steal as much as job as they did. Granted the benefits might have accrued more to the company shareholders and exectives and CEOs than the average citizens.
Like or Dislike:
0 
0
July 8th, 2011 at 6:45 am 58
@patriotz:
Ladies and Gentilemen
I thought patriotz had an open mind and lived on Drummond Drive.
Now I see the proof he sublets a room in Meth Mans basement suite.
Commie Basturd….
You obviously don't get it.
See what is happening in Richmond.
On the triple net basis….commercial tenants pay the property taxes. Commercial property owners find the tenants balls squeezed…thus their balls squeezed….= no tenants….= forced to sell to residential developers.
Richmond City Center has one decent building supply store ..REVY..in City Center….and I say its toast in 5 years..then option = Home Despot in a shitty location.
Gee funneling customers to Home Despot…gee a plot-sky..or the LOWES being built in Queensborough.
Richmond does not have a single Movie Theatre in the core…closed recently…….or major rec faciltities…. all closed, the only option is driving miles to #6 Road/Steveston Hwy.(Silver City/Water Mania etc.)…it is so far out…..though a rumour persists that the developer was kinfolk of EX City Planner Bob Kerr)
C'mon patriotz..smarten up…..or " No soup 4 ewe "!!!
Like or Dislike:
0 
0
July 8th, 2011 at 7:13 am 59
WTF! something has to give
http://www.realtylink.org/prop_search/Detail.cfm?…
Like or Dislike:
0 
0
July 8th, 2011 at 7:15 am 60
@space889:
Because if your house goes up compared to equivalent properties only a km or so away you can sell and buy in the same neighbourhood, remain an owner-occupier and pockets the gains tax free. Which is what I already said.
Are you really that thick?
Like or Dislike:
0 
0
July 8th, 2011 at 7:22 am 61
@rp1:
“Will the housing boom last indefinitely?”
Even the Americans were not that stupid.
http://www.amazon.com/Real-Est…..0385514352
Check the publishing date.
—————————————-
ha! love this comment…so Vancouver!
http://www.amazon.com/review/R1DNB847Q2J7M1/ref=c…
Like or Dislike:
0 
0
July 8th, 2011 at 7:27 am 62
Message in fortune cookie from CAM Good:
Help:
I am being held hostage …by rogue HAM that have overtaken helicopter pilots.
They hide chopsticks …..and holding to pilots balls.
Jackie Chan is one of them…snuck kosher NunChucks on board.
Really pissed off when said Bruce Lee movies better.
If not pay ransom..say they fly copters into Bob Rennie's Art Gallery or Olympic Village.
This be travesty !
Help !!!!
Like or Dislike:
0 
0
July 8th, 2011 at 7:28 am 63
Wow, just checked the MLS for houses for sale and holy cow, the houses on Cambie Street between King Edward Ave and 33rd Ave all seem like tripled their asking price to $4.8M to $5.8M! I wonder if those ten houses sold for $3.88M a few weeks ago got their greed and hope meter up a few notch.
If the developer can only build up to 6 storeys, wonder what would be the break even per sqft price.
Like or Dislike:
0 
0
July 8th, 2011 at 7:32 am 64
@bubba: Richmond has been rezoning commercial as residential and that has caused relative assessments to increase, and speculation on commercial properties that may be rezoned in the future, causing relative property tax hikes for the commercial tenants/owners. Yes that's a problem and one the City of Richmond has culpability. I had thought they were trying to resolve it through some motion in May but I never followed up.
In Vancouver there were some properties that were recently rezoned for highrise and SFHs once worth a million are going for upwards of $3 million. So some granny in this unit can sell, move off the main drag, and pocket $2MM in cold hard cash, or indefinitely defer her property taxes, which she is allowed to do. No problem there.
How about the family who buys a block over for $1MM thinking that real estate only goes up, then complains when they are surrounded by condos and have to pay taxes based on assessment, which is a proxy for highest and best use? The City's running out of land; maybe it's time to turn the screws through rezoning.
Like or Dislike:
0 
0
July 8th, 2011 at 7:43 am 65
@patriotz: Uhm…property prices generally decreases based on a curve from a new skytrain station so I doubt the effects would be limited to just 1 or 2 kms. So more likely the whole neighborhood would go up in price though not necessarily by the same amount so thus you are right the homeowner would be able to pocket gains, but never 100% of the gains. As well, it's likely that the homeowner even staying in the same neighborhood would be moving to a less desirable location. Lastly, it still doesn't change the fact that the homeowner maybe force to sell.
The only real difference is how much gain the homeowner can pocket and the change in standards of living. It doesn't change the premise that circumstances beyond a homeowner's control forced the homeowner to sell when he/she otherwise might not need to.
You are saying it's a good thing in one case but not in the other. I'm saying the end result is the same, only thing different is how much gain you get to keep by moving away and how far you might have to move.
If I'm thick for not seeing your view, well I can say the same to you.
Like or Dislike:
0 
0
July 8th, 2011 at 7:44 am 66
@CheChe: Student loan debt has kept me and my wife from purchasing and I do know a few more people in the same boat who are uncomfortable taking on more debt until this stuff is paid off. We're happy to be waiting it out at the moment, but I can tell you it's no picnic to be saddled with student loans.
If I had known then what I know now, I'd have worked out a way to get a line of credit. CSL is draconian and treats you like you have already defaulted, even though we both have perfect records with them. Their "call centre" is outsourced to a credit recovery firm that knows nothing about what you owe, how the repayment system is calculated, or whom you may talk to regarding your status. CSL has had more than enough letters, both personal and legal, from us to know that they are not allowed to insist that we contact them through the call centre. We are to be dealt with directly due to the problems we have both had. I can tell you that I have never been treated this way by my bank for my business loans. Horrific doesn't even begin to describe the treatment.
That aside, my wife and I are both content to wait it out before we get into the housing market. By then we will have our student loans paid back and will be in a position to make a down payment on a place.
Like or Dislike:
0 
0
July 8th, 2011 at 8:29 am 67
@space889: "It doesn’t change the premise that circumstances beyond a homeowner’s control forced the homeowner to sell when he/she otherwise might not need to."
The points you raise are:
1) Assessments that suddenly increase above a certain level no longer qualify for HOG
2) People living in areas slated for rezoning will see their assessments increase disproportionately compared to their current utility.
So those are valid concerns but neither are new. It is a form of expropriation. People over a certain age can have their property taxes deferred so there should be no concern on that front. People who bought at lower prices suddenly finding a huge tax increase can apply for relief through the provincial government. Those who can afford it… well, look at it as a small price to pay for tax-free capital gains into the future.
It's wholly debatable but I say there should be impetus for driving highest and best use out of land and, frankly, lower-density parts of the City obviously deemed desirable by marginal buyers need to face reality that Vancouver isn't the city it used to be.
Like or Dislike:
0 
0
July 8th, 2011 at 8:34 am 68
@bubba: Here is the property tax relief bill informational for Richmond Brighouse. See? The government is looking out for the little guy, even if they're only treating the symptoms.
Like or Dislike:
0 
0
July 8th, 2011 at 9:01 am 69
"If I had known then what I know now, I’d have worked out a way to get a line of credit. CSL is draconian and treats you like you have already defaulted, even though we both have perfect records with them"
I empathize with your situation. A good friend of mine is still paying off his student loan from the late 1990s, and the has gone through hell with CSL for 12 years – same situation with the grief you described. With all the interest he has paid, he has paid off his student loans twice, yet still owes. Given his poor financial situation still, I advised bankruptcy a year or so ago.
That being said, I am confident you are an anomaly.
I used to work as a lobbyist at the provincial and federal level on student tuition, research and loan policies, advocating for more flexibility, lower rates, bursaries, etc at UBC. What was particularly disturbing was the sheer number of students that would get out of their brand new cars, with their designer clothes and new phone, and say that I should really push for more bursaries so that they could "live." Go take a look at any UBC parkade and there has been an exponential growth in the "niceness" of cars. Go take a look at campus restaurants, and they are always busy and make a lot of revenue.
Students today have zero concept of deferral of gratification. Period. The days of living in student ghettos, eating Kraft dinner, deferring conspicuous consumption until you started making money are gone.
As someone who used to lobby for years on these issues, I can honestly tell you that a tiny minority of students really go full tilt, working part time jobs, slumming it, and giving up creature comforts, or hell, even the latest Iphone.
Students today, and recent graduates, have been conditioned to pursue instant gratification.
Did the babyboomers have it easier? You bet – tuition was cheaper, summer jobs a plenty, and they could walk into jobs . But at least they knew the concept of deferring gratification, which prevented, or minimized their debt levels.
Like or Dislike:
0 
0
July 8th, 2011 at 10:10 am 70
Today:
New Listings 272
Price Changes 119
Sold Listings 133
This week:
New Listings 1478
Price Changes 635
Sold Listings 663
TI:15938
Will have the weekly stats updated on my site this weekend: http://www.laurenandpaul.ca
Like or Dislike:
0 
0
July 8th, 2011 at 10:16 am 71
@space889:
"Is RIM stealing technology from Apple with their playbook? Apple came up with the idea, concept, implementation, and marketing and created the touchphone and tablet market. You could even say that touchphone and tablet are an Apple invention that everyone else is now stealing and putting out clones"
Apple invented neither the touchscreen or the tablet, they are merely taking inventions and packaging them into nice to look at devices. So no, RIM is not stealing from Apple, just as Apple did not steal from Elographics (the inventor of the touchscreen and holder of the patents) or the RAND tablet (the original tablet computer.
"So yes, China steals technology, but in reality so does everyone else. The only difference is the degree of stealing that is legally allowed and punished, and the different definitions of stealing"
The definition of stealing in the west is taking something that is not yours to take. What is the definition in China?
Laws for use of IP are pretty clear here – you cannot infringe on a patent without permission to do so while the patent is in force, and if you do you get penalized for stealing. Patents protect inventors from getting screwed, thus promoting invention. The fact that China steals so much tells you a lot about Chinese innovation, or lack thereof.
Like or Dislike:
0 
0
July 8th, 2011 at 10:43 am 72
@paulb: The market is teetering on the edge of the abyss.
Like or Dislike:
0 
0
July 8th, 2011 at 10:43 am 73
@paulb: Time for the 16K party! Fourth one this year!
Like or Dislike:
0 
0
July 8th, 2011 at 10:45 am 74
@Patiently Waiting:
VCI….predicting 8 of the last 0 housing crashses.
Like or Dislike:
0 
0
July 8th, 2011 at 10:46 am 75
College Conspiracy
http://www.youtube.com/watch?v=VpZtX32sKVE&fe…
=============================================
Watch this and weep
Higher learning has been pimped…ain't it obviou$ ?
In the 1970's…..a decent summer job could pay for TUITION..BOOKS …Gas for your 8 cylinder beater….and leisure during the terms aka beer movies etc.
Student Debt ????.
WTF happened?
Answer..the same scam as RE…..
Like or Dislike:
0 
0
July 8th, 2011 at 10:53 am 76
@Troll: I'm not calling it yet. But if a couple thousand more listings (net) get added over the summer, I'll declare a crash. So we'll see on Labour Day.
Like or Dislike:
0 
0
July 8th, 2011 at 10:58 am 77
@CheChe: I was hired by a bank just after 9-11. I had only graduated a few years previously but I was shocked at the revolving credit being thrown at students by that time. The pressure to sell kids credit cards made we walk away from that nasty job.
Like or Dislike:
0 
0
July 8th, 2011 at 10:59 am 78
I agree patiently
17000 party marks the moment the great unwashed begin to awake to reality and start to panic
Like or Dislike:
0 
0
July 8th, 2011 at 11:01 am 79
@jesse:
Thanks….Fully aware……and have been watching it.
Unfortunately, the majority of Richmond Council are retards.
The OCP ambush that created a whole new plan reeked of external influence.
The City of Richmond bought approx 600 acre Brighouse Farm in the early 1960s….and developed it into
light industrial/commercial uses.
With Canada Line….the dark forces have determined that symbiotic/ complimentary OCP for Canada Line is drummmm rollll….Hi – Density Residential!!!!!!!!!!!!…..which …OMG what a coincidence….in Richmond …….is almost exclusively light industrial/commercial !!!
NIMBY's are V-O-T-E-S….so perfect victims are landlords of small businesses in City Center.
Richmond retarded Council heard the backlash, and just created a retarded bylaw to help approx 40 businesses….based on a long list of criteria.
However..if one understands annual civic budgets…there is no free lunch…and City Hall staff reports even state that any/all tax reduction for businesses nailed by the OCP will be shifted onto OTHER classes of property owners ….. the majority of which are residential class.
aka all smoke and mirrors BS
Like or Dislike:
0 
0
July 8th, 2011 at 11:11 am 80
jesse
Also..
Richmond City Haul, in predatory fashion….is trying to impliment the granny flat/coach house zoning in (2) designated areas.
What the dumkopfs in these areas do NOT realize is that , via BC Assessment…this "option" will increase their highest and best use…and if the OCP approves it….their property taxes will increase.
From what I gather…these granny flats and coach house"options" will increase the given SFH value by between $100,000 – $250,000….thus extrapolate that into mill rates/property taxes….whether one builds one or not.
Wake up folks…the Government is N-O-T your ally…they are gravy sucking vampires .
Like or Dislike:
0 
0
July 8th, 2011 at 1:08 pm 81
Looks like poster Li Kai Shing has been chasing the dragon again using cheap low-grade smack. I clicked his green arrow anyway, poor soul.
Like or Dislike:
0 
0
July 8th, 2011 at 1:13 pm 82
@fixie guy:
THANK YOU
Canada ‘owes China’? How much does the PRC pay you to spew this pathetic crap?
it's fairly obvious that these RE boards' trolls are either naive local chinese nationalists up to their eyeballs in mortgage debt, or they're the wu mao dang.
either way it's hilarious. no respect for our country.
Like or Dislike:
0 
0
July 8th, 2011 at 1:25 pm 83
@space889:
wake up
don't blame US/CANADA for not GIVING china MORE technology
WE'VE GIVEN CHINA ENOUGH TECHNOLOGY
the last 10 years china has been 'given' more technological know-how between two civilizations than EVER before in human history.
is that NOT ENOUGH?? and it was done all by the multinationals – the companies born in america but who's greed stabbed the american people in the backs.
they did more damage than any intelligence agency ever could.
have a look at this:
http://www.spiegel.de/international/europe/0,1518…
or this
http://carscoop.blogspot.com/2007/07/shuanghuan-s…
or this
http://online.wsj.com/article/SB10001424052748704…
http://www.youtube.com/watch?v=s-Edp1raE_4
i can go on and on and on
talk about not giving a fuck – if this isn't an aggressive posture, i don't know what is.
and if this also doesn't show a certain streak of 'entitlement' then i don't know what does.
http://www.cbc.ca/news/canada/british-columbia/st…
http://www.theaustralian.com.au/news/chinese-spyi…
let's face it, THE PARTY is a hostile entity – chinese people as individuals can be quite pleasant and i'm proud to count them as my friends. but many of them lack any knowledge of the history of canada, let alone the west. so they are prone to view our skepticism as racist. ho hum.. all in a days work for an authoritarian political entity (race = nation, party = race, ergo party = nation)
not all of us lack the resolve to deal with this, given what's at stake (our children and grandchildren's futures)
Like or Dislike:
0 
0
July 8th, 2011 at 2:03 pm 84
@604x:
I hunt you down like pussy you are…Cam Good has extra seat on Helicopter.
Say "meow" , n t " moo" infidel
Like or Dislike:
0 
0
July 8th, 2011 at 2:20 pm 85
Vote YES to extinguish the HST … The combined gst + pst will not be more than hst!!! That is a common myth….
The government tax revenue short fall should be dealt with through BC austerity measures..stop government waste before making another tax grab!!!
VOTE YES to get rid of the HST!
Like or Dislike:
0 
0
July 8th, 2011 at 2:29 pm 86
@CheChe:
A lot of these kids with conspicuous wealth are either from rich West Van families or HAM kids who drive to UBC with a new BMW or Merc.
I actually think poorer kids have a harder time getting into UBC now, though dont expect the Government to ever admit that.
Like or Dislike:
0 
0
July 8th, 2011 at 2:32 pm 87
Promontory news… The Campus Resident. June 28, 2011.
Front page:
"13 condos have come on market since January at Promontory. The number is "high" says realtor; there are 95 suites in building at centre of hospice controversy" (typos included)
"Real estate sources indicate … only one apartment has sold in this time" (just lower the price for God's sake!)
The real estate source "whished not to be named"
I really like the next paragraph:
"Meanwhile, sources say apartment sales in the last four months at UBC show a disrinct downward trend…" They do not say if they suspect the ghosts or the housing bubble, but either way, it is definitely back luck coming upon them.
What a piece of journalism! No source cites. No stats.
Like or Dislike:
0 
0
July 8th, 2011 at 2:43 pm 88
And also, on page 4, there is a letter they sent to the Premier.
I find it pretty arrogant. Basically, they want to teach her democracy.
http://issuu.com/unapublications/docs/campusresid…
Like or Dislike:
0 
0
July 8th, 2011 at 2:58 pm 89
@Derp Derp:
Without generous chinese money keep buying Canada RE and natural resource,Canada is just a third grade enonomic backwater;Our government should impose economic sanction against those who oppose Chinese value and plotting against China with American help.Change your mindset now in order to embrace the imminent and unstoppable China Era or you will be excluded from Great China Economic Zone".China is your biggest customer not us;us is alreay in economic ruin since 2008 .Also, its military will be fading for good.A wise man should choose the wining team or face bleak consequency.To be an enemy of 1.6 billion Chinese is a no-win situation.Choosing the shining path would ensure Canada's prosperity for centuries to come.
Like or Dislike:
0 
0
July 8th, 2011 at 3:10 pm 90
"Why not use the “carbon tax” and put that money straight into transit. The government takes in $X in taxes and spends $Y. Y exceeds X so we have a deficit = Y – X. Playing games about which taxes go to which services…"
Why The Fk don't people get it? You must pay taxes to get services. Take your pick. Pay more to get more or pay less and get less. Myself I prefer to pay less and not whine about services. Why is it so many whiners who complain about the HST, etc at the same time complain about not enough services? Don't you get it?
Yes I know we can talk about waste all day, but every government does it. That is why we should support less government = less waste regardless of the political party. Either step up and volunteer to pay more taxes / fees or STFU. Whining someone else should pay is getting old and aint going to happen.
Like or Dislike:
0 
0
July 8th, 2011 at 3:11 pm 91
@Extremely rich Van house owner.:
dude, the PLA will never land on north american shores
we will crush you
we are free people
Like or Dislike:
0 
0
July 8th, 2011 at 3:56 pm 92
I decided to make some graphs. What's the easiest way to show them without having the hassle of registering for a new service somewhere..?
Like or Dislike:
0 
0
July 8th, 2011 at 4:29 pm 93
@Troll:
Maybe you're right and this is nothing, but having watched the weekly stats for most of this year I can tell you this one was one of the softest I can remember. Sales barely edged out price changes… does that sound like a healthy market? If this week turns out to be an aberration then maybe the balloon keeps filling for awhile longer. But if this week is followed up with a few more with similar numbers… watch out!! The shit may have officially hit the fan on the great Vancouver bubble.
Like or Dislike:
0 
0
July 8th, 2011 at 5:09 pm 94
@Anonymouse:
http://www.tinypic.com
Like or Dislike:
0 
0
July 8th, 2011 at 5:30 pm 95
@Extremely rich Van house owner.:
Even we know that you are just stinky troll you should always keep in mind that It takes only two flights to sort things out therefore please shut the fuck up and go to sleep, …
Like or Dislike:
0 
0
July 8th, 2011 at 10:01 pm 96
@Anonymouse: There is the VCI forum… Or is that too obvious?
<——————————
Like or Dislike:
0 
0
July 8th, 2011 at 10:19 pm 97
@92 Anonymouse: imageshack
Like or Dislike:
0 
0
July 8th, 2011 at 10:36 pm 98
@82 Derp Derp: More likely it's astroturfers contracted by various real estate associations to diminish the content. I've been active on various forums for almost 20 years and those focused on Vancouver real estate are unique for the amount and tenacity of off-topic trash, especially race baiting. It destroyed RET and is beyond me why the morons here aren't banned, immediately and without recourse. Before someone bothers playing that idiotic card, the spamming on VCI, by drowning out valuable discussion (even Daves's on a good day!) and tainting the perception of all posts, are truly censorial. Banning them enhances free and open discussion about Vancouver real estate. An open and reasonable questioning voice is what they fear most. Viewed from that perspective the trash from space, ravishing, romeo and all the rest makes perfect human sense. Wastes of skin.
Like or Dislike:
0 
0
July 9th, 2011 at 1:50 am 99
@fixie guy: The IP for the Li Kai Shing posts should be blocked. Moderator, that poster is not even engaging in discussion.
Like or Dislike:
0 
0
July 9th, 2011 at 2:51 am 100
T
Crash has begun.
Like or Dislike:
0 
0
July 9th, 2011 at 3:27 am 101
@fixie guy:
Yeessshh
Chill dude
Ya remind me of the tall dude in this video
http://www.youtube.com/watch?v=XQkcP0olmQY
Like or Dislike:
0 
0
July 9th, 2011 at 4:05 am 102
@Anonymouse: You NEED an image host. Tinypic or Imageshack are both good.
Like or Dislike:
0 
0
July 9th, 2011 at 5:14 am 103
Carbon Tax?
Gee ….that leaves a hell of a lot of the Periodic Table to still plunder.
Wake the F*ck up…
What's next….the dreaded "dick length" tax…(geez I'll go broke )
David Rothschild regrets Global Governance tough to activate in Copenhagen
http://www.youtube.com/watch?v=mtudNpL30BU&fe…
The VERMIN zombies aka elected officials have bought into the Rothschilds scam.
They have drafted laws to attach themselves like vampires and suck taxes with absolutely NO quantifiable payback.
IN BC….they need to fund Evergreen line….I wonder who will benefit from that ?…follow the Bilderberg trail
It's a bogus religion….Moonies and Hare Krishna's have more credibility
BTW: CO2 is a fertilizer….
Like or Dislike:
0 
0
July 9th, 2011 at 5:25 am 104
Some nice job creation the last couple of months.
http://census2011.gc.ca/ccr04/ccr04_001a-eng.htm
Like or Dislike:
0 
0
July 9th, 2011 at 11:16 am 105
How the American middle class got wiped out: real estate.
"There are a hundred different ways of looking at the economy, and a million different statistics. But if you wanted to focus on just one number that explains why the economy can't really recover, this is the one: $7.38 trillion.
That's the amount of wealth that's been lost from the bursting of housing bubble, according to the Federal Reserve's comprehensive Flow of Funds report. It's how much homeowners lost when housing prices plunged 30% nationwide. The loss for these homeowners was much greater than 30%, however, because they were heavily leveraged.
Leverage is an amazing thing: When prices go up, the borrower gets all the gains. And when prices go down, the borrower takes all the losses. Some families lost everything when the bubble collapsed, others lost very little. But, on average, American homeowners lost 55% of the wealth in their home.
Most middle-class families didn't have much wealth to begin with — about $100,000. For the 22 million families right in the middle of the income distribution (those making between $39,000 and $62,000 before taxes), about 90% of their assets was in the house. Now half of their wealth is gone and it will never come back as long as they live."
http://finance.yahoo.com/banking-budgeting/articl…
Wow, 90% of assets in the house, that's pretty stupid. I'm glad we don't do that in Canada.
Like or Dislike:
0 
0
July 9th, 2011 at 11:40 am 106
#
101
#
Li Kai Shing Says:
July 9th, 2011 at 11:27 am
Reprinted by populiar demand ( wang-suckers)
@fixie guy:
Yeessshh
Chill dude
Ya remind me of the tall dude in this video
http://www.youtube.com/watch?v=XQkcP0olmQY
Current score: -5
Like or Dislike:
0 
0
July 9th, 2011 at 12:49 pm 107
Thanks:
Proof this blog is supported by NDP troglodytes, and too cheap to pay Communist party fees.
Up Basememt Suite Tax !!!
Like or Dislike:
0 
0
July 9th, 2011 at 1:50 pm 108
"In some areas prices have dropped 40 to 60% and it's as bad as Phoenix."
He gets calls and emails from Canadians daily.
"Some are waiting for a bell to ring that says we have hit absolute bottom," he jokes. "Others have pulled the trigger because in Maui we're having a half-off sale."
<a href="http://www.vancouversun.com/travel/More+Canadians+showing+interest+Hawaiian+properties/5025010/story.html" rel="nofollow">More Canadians showing an interest in Hawaiian properties
Why bother living in an overpriced crack shack here…..or am I missing something…RTP
Like or Dislike:
0 
0
July 9th, 2011 at 2:07 pm 109
#92 @Anonymouse: imgur.com
Like or Dislike:
0 
0
July 9th, 2011 at 4:17 pm 110
#51 @bubba: That is actually a really interesting photo. Look closely and it explains the whole riot.
Like or Dislike:
0 
0
July 9th, 2011 at 7:07 pm 111
@Best place on meth:
That's better.
And that's the real issue. Bubbles don't make people collectively more wealthy. An individual can gain by selling at an inflated price, but that's wholly at the expense of the buyer. And it's not possible for more than a few owners to sell at the top anyway.
The reason why bubbles are so damaging is that people think they're more wealthy, and act like they're more wealthy (i.e. spend more), which means they are actually getting poorer and poorer. But they only realize this when prices return to normal.
Like or Dislike:
0 
0
July 10th, 2011 at 12:16 am 112
"How the American middle class got wiped out: real estate."
not true, it's because of stupidity and greed. same goes for you being complainers all the time about this RE market.
Like or Dislike:
0 
0
July 10th, 2011 at 12:36 am 113
@112 Anonymous Says:"not true, it’s because of stupidity and greed. same goes for you being complainers all the time about this RE market."
Aside that the focus of the stupidity and greed was 'quick riches through real estate', that post made absolutely no sense. Please explain.
Like or Dislike:
0 
0
July 10th, 2011 at 12:40 am 114
@patriotz:
While the wealth may have been illusory and fleeting, the debt that remains is real and long term. This is what many people here still don't get as they believe real estate never goes down.
Meanwhile, the winds of change blow through the Vancouver real estate market.
http://agentwill.com/weekly-stats/
Like or Dislike:
0 
0
July 10th, 2011 at 2:27 am 115
Meth shit is quickly starting to stink
Just wait until rates notch higher
I call for a ten percent decline over the next nine months and this will just be to start
Things could actually fall apart much faster
Anyone getting a sense that greed is beginning to turn to fear?
Like or Dislike:
0 
0
July 10th, 2011 at 3:18 am 116
This is what you get in Kits for $1300/month rent. I love the "shared BBQ" but the "no smoking, no pets and no partying" line is the deal breaker.
http://vancouver.en.craigslist.ca/van/apa/2481758…
Like or Dislike:
0 
0
July 10th, 2011 at 4:59 am 117
I tink this blog is infiltrated by NDP Realtors
Like or Dislike:
0 
0
July 10th, 2011 at 5:14 am 118
@patrick:
That's a lot of money for 300 square feet in someones yard.
Like or Dislike:
0 
0
July 10th, 2011 at 6:32 am 119
@patrick:
Is it legal to stipulate "no partying" in a letting agreement, I wonder?
Like or Dislike:
0 
0
July 10th, 2011 at 6:57 am 120
I just cruised around Richmond with my Facial Recognition Technology.
Amazing results…
Like or Dislike:
0 
0
July 10th, 2011 at 9:07 am 121
@Li Kai Shing:
Facial Recognition Technology doesn't work in Richmond.
Like or Dislike:
0 
0
July 10th, 2011 at 10:02 am 122
@Best place on meth:
What you mean ??? ….be specific round eyes…..
Like or Dislike:
0 
0
July 10th, 2011 at 10:35 am 123
Several more new For Sale signs sprouted up in my hood this weekend.
Romeo Jordan
xoxox
Like or Dislike:
0 
0
July 10th, 2011 at 11:05 am 124
In RichHAM err Richmond..
Facial Recognition Technology shows most RE owners are caucasian….waiters , baristas and cab driver/pizza boy /investment advisors that can buy $888,888 RE .
============================================
Romeo Jordan…where is your "hood " ????
Prison cells don't count(even though probably better value than shoebox condos)
Like or Dislike:
0 
0
July 10th, 2011 at 12:45 pm 125
Li,
Sold my condo at a 7% loss (including all commissions and transaction fees, etc.), and now rent on the westside, half a house with my GF.
Like or Dislike:
0 
0
July 10th, 2011 at 1:08 pm 126
http://worldhousingbubble.blogspot.com/
Li, great site, I think you will like it.
And no McLosin there (yet), thankfully!
xoxox
Romeo Jordan
Like or Dislike:
0 
0
July 10th, 2011 at 1:22 pm 127
@space889: Well, somewhat true. I know 3 families that have gone through bankruptcy. All three have had credit re-extended within three years: the biggest was a car loan. Dunno about mortgage.
Like or Dislike:
0 
0
July 10th, 2011 at 2:07 pm 128
@Romeo Jordan:
Victoria not count.
Give Vancouver Island to First Nations as settlement.
Victoria is for newly -wed and nearly- dead….biggest buyers of Viagra either way.
Like or Dislike:
0 
0
July 10th, 2011 at 4:13 pm 129
@Romeo Jordan:
I heard story from the moon.Proof first bear.
I sold my apt at 100% profit man!!!!
Like or Dislike:
0 
0
July 10th, 2011 at 4:14 pm 130
@Romeo Jordan: They will be gone next week.
Like or Dislike:
0 
0
July 10th, 2011 at 4:17 pm 131
@Best place on meth:
U are living in a state of fantasy.Average Van detached and apt unit gone up 26 % this yrs so far and still going up.There ain't no limit as long as our compatriots from China keep pumping money to this village city.
Like or Dislike:
0 
0
July 10th, 2011 at 4:20 pm 132
@Wtfruk:
This is the most idiotic statement from a retarded belmoral hotel dweller but is has been said since 2001.
Like or Dislike:
0 
0
July 11th, 2011 at 1:23 am 133
@nuxfan: Did the RAND tablet inventor gave Apple permission to build its own tablets based on its idea? Similarly did Apple gave MS permission to copy its idea of Graphic User Interface? Or did Netscape give anyone else permission to create a browser like its browser? They all took ideas that was someone else's and use it to make products and make tons of $$. That's all apparently legal. But I'm sure Apple was crying wolf and intellectual theft about MS Windows when it first came, Netscape was doing the same thing with MS Internet Explorer. Or more recently the Facebook lawsuit.
Like or Dislike:
0 
0
July 11th, 2011 at 1:47 am 134
@Derp Derp: wowwooww….hold on a minute. Now I'm confused. Before you (or most other posters) were saying that China was the biggest technology stealer there is which I actually agreed to a good extent, even though I did note that a lot of the Chinese companies had a different view on it. Now you are saying the Western companies transferred technological know-how to China in pursuit of greed and profit. So when did a technology transfer is the same as stealing?
Secondly, if you are so angry at Western companies for doing this, why the hell are you mad at the Chinese for taking it? If people always gave generously to pan handlers on the street then can you really blame the pan handlers for setting up on the street in increasing numbers for the handouts?
Lastly you said you hate THE PARTY but fine with Chinese people but must fight for your children's future. My position was if you think there is huge pollution issue in China harming the average folks who has little choice on the pollution that's happening and you have the money and technology to help with the pollution problem, yet you stand back does nothing aside from berating and lecturing the folks who are suffering, are you really better than them? Does that makes you a better person/country? Unless you think those people deserve whatever they get?
Like or Dislike:
0 
0
July 11th, 2011 at 1:51 am 135
@space889:
Both Netscape and Internet Explorer were based on a public domain browser called NCSA Mosiac, which I remember using way back when. The HTTP standard is itself public domain of course.
The graphical user interface was first implemented by Xerox, which was not interested in using it commercially, and it was subsequently implemented by Apple, Unix (X windows/Motif), Microsoft, and IBM. But since Xerox did not assert a proprietary interest from the outset the concept became public domain.
Like or Dislike:
0 
0
July 11th, 2011 at 1:59 am 136
@Derp Derp: btw, Chinese people don't view your skepticism as racism. As well they are perfectly aware of Western history in China, it is very taught in elementary & highschool school, there is never ending TV series and movies, books, etc about that period.
Why is there such negative attitude in China towards Western criticism? For the same reason why people everywhere hate the hard driving boss who never dish out anything but criticism. People in China say we are doing the best we can, we try hard, and we get bashed for everything, not a single praise for all of our accomplishment. The stuff we get bashed on? Western countries did it all before and in some cases doing the same thing right now. Western countries criticize and bash but offering no actual useful alternatives. They give support to groups that acts in contrary to our national interests. So why are they doing this? Not wanting to see China modernize which would threaten them, that's why! That naturally leads to resentment, anger, hate and we all know where that leads!
Like or Dislike:
0 
0
July 11th, 2011 at 2:00 am 137
@patriotz: Hey, and don't forget the mouse too.
Now I'm all nostalgic over Mosaic. Amazingly, there are still people running gopher sites.
Like or Dislike:
0 
0
July 11th, 2011 at 2:25 am 138
This entry submitted from lynx. How's that for retro?
Like or Dislike:
0 
0
July 11th, 2011 at 2:26 am 139
Real estate agents in Australia withholding sale prices.
http://www.theage.com.au/victoria/agents-withhold…
Like or Dislike:
0 
0
July 11th, 2011 at 2:33 am 140
@space889:
"Did the RAND tablet inventor gave Apple permission to build its own tablets based on its idea? Similarly did Apple gave MS permission to copy its idea of Graphic User Interface? Or did Netscape give anyone else permission to create a browser like its browser? They all took ideas that was someone else’s and use it to make products and make tons of $$. That’s all apparently legal. But I’m sure Apple was crying wolf and intellectual theft about MS Windows when it first came, Netscape was doing the same thing with MS Internet Explorer. Or more recently the Facebook lawsuit."
Patents only protect you for so long – I believe 14-17 years depending on when the patent was filed. So no, when Apple built their first tablet in late 1990's, they did not infringe on the RAND patent from the 1950's, nor did they need to get permission from RAND. However, had they built their table in 1960, yes they would have had to do so.
Companies that hold patents do so in order to make money from them via licensing of the patent, and to protect their own ideas. I build commercial software for a living – I am acutely aware of what licensing requirements exist when I build software, and when I use someone else's idea or product, what I need to do to use it legally.
The fight between MS and Apple during the advent of the modern GUI is well documented, and it was bitter to be sure. It was not the first or last such fight. However, there are courts to deal with this sort of infringement fight, and they are busy.
Like or Dislike:
0 
0
July 11th, 2011 at 2:40 am 141
@Best place on meth: "Agents withhold house price data"
Wow, with falling prices now the discounts being offered are so embarrassing that agents aren't reporting them properly? Wow, didn't see that coming! lol
I don't know about BC but for the most part sales are fairly reported except through side deals, which I'm sure go on to some extent. But the way Realtors are organized I would think that not reporting proper sales price is a big no-no, as the Agencies wouldn't get their pound of flesh.
Hey, a bright side of collusion and commissions — accurate price disclosure!
Like or Dislike:
0 
0
July 11th, 2011 at 2:41 am 142
China's inflation rate skyrockets from 5.5% to 6.4% in June.
http://www.marketwatch.com/story/chinas-june-infl…
Like or Dislike:
0 
0
July 11th, 2011 at 2:42 am 143
Sharp drop in BC housing starts:
Urban starts in Ontario jumped 24.1 per cent in Ontario and by 5.6 per cent in the Atlantic region. Meanwhile, British Columbia saw a 27.6 per cent drop in June, while urban construction fell 3.6 per cent in Quebec and 1.2 per cent in the Prairie region.
Read more: http://www.vancouversun.com/business/Canadian+hou…
Like or Dislike:
0 
0
July 11th, 2011 at 2:50 am 144
@Best place on meth:
The real issue, which of course the Chinese don't want to talk about, is that China will continue to import inflation from the US as long it refuses to allow a floating rate for the yuan.
Like or Dislike:
0 
0
July 11th, 2011 at 2:54 am 145
"A chance to showcase the 'real' Vancouver"
WTF why can't we just have fun in the park? Why do we always have to worry about what outsiders think of us?
Screw you, CBC.
I was there, had fun, and the rest of the world can kiss my ass.
http://www.cbc.ca/news/canada/british-columbia/st…
Like or Dislike:
0 
0
July 11th, 2011 at 2:56 am 146
@nuxfan: So basically the whole tech stealing argument can be boiled down to:
1 – filed a patent in US/Canada or EU, no one else in the world can use what is in the patent or the idea behind the patent which can't be patented. If anyone tried it's stealing.
PS – yes ideas can't be patented, only the expression of idea. However that's a fine line best left to $1000/hr lawyers.
2 – No patents or patent expire, it's free for all even if the idea/whatever belonged to anyone else.
Ok yes, I know as a requirement of patent, the inventor has to make knowledge public at a reasonable fee and have no protection after the patent period. However if the inventor doesn't agree to the condition then no patent is issued and anyone can legally "steal" the technology.
However, in case #2 where there is no patent or patent expired, aren't you still basically taking something that belong to someone else and don't need to get permission? Is that not still stealing? Or is it not stealing because there is no legal protection?
Like or Dislike:
0 
0
July 11th, 2011 at 2:58 am 147
@patriotz: China doesn't want to do it for the simple fact of what a float yen did to Japan. Ok there were a lot of other issues/factors but an appreciating yen did have a big impact. So China is trading off importing inflation against decreasing export loss.
Like or Dislike:
0 
0
July 11th, 2011 at 3:01 am 148
@patriotz: So what? MS still copied it from Netscape who came out with the browser first and I'm not Netscape didn't like the fact that MS did a Netscape clone. Yes the stuff it is based on is public domain but MS still stole the idea of browser, what it can do, look like, etc from Netscape. If Netscape were an American/Canada company and MS were a Chinese company then I bet lots of people, you included, would be saying that the Chinese stole the browser technology from Netscape and then destroyed a great American/Canadian company.
Like or Dislike:
0 
0
July 11th, 2011 at 3:05 am 149
@fixie guy: So people whose view don't necessarily agree with you are trash?
yes China is off topic, except there is always talk about how corruption money from China affects or not affects Vancouver market and how they should go home, etc, etc, etc. Frankly if no one cares then why do they keep posting in reply to my posts? Right, they reply so straighten me out because my thinking/views are just plain stupid and shill.
If you don't want off topic discussion on China then I would say just be respectful and keep things on a nice civil level rather than posting inflammatory bashing posts about how China is the scourage of the Earth, a living hellhole.
Like or Dislike:
0 
0
July 11th, 2011 at 3:08 am 150
@Patiently Waiting: Housing starts are 23% up YOY in BC. The sharp drop in June was simply because there were a ton of starts in May. Overall the residential construction industry in Vancouver, mostly condos and attached, is continuing apace.
"Weak" is not how I would describe Vancouver real estate construction right now.
Like or Dislike:
0 
0
July 11th, 2011 at 3:33 am 151
Who care about RAND, Apple, MS…Goofy… Sneezy, Dopey
That debate for troglodyte basement suite dwellers with nachos .
Al Gore invent Internet…and save us via movie " UN- invented Truth" and won an Oscar Meyer award !.
Then No -Bull Prize !
As Bonus..had George Harry Bush for 8 years.
Life is good !
Like or Dislike:
0 
0
July 11th, 2011 at 3:35 am 152
@jesse: good, more supply than.
Like or Dislike:
0 
0
July 11th, 2011 at 3:37 am 153
@Patiently Waiting: "more supply"
That's the best way for a real estate bear to think about it!
Like or Dislike:
0 
0
July 11th, 2011 at 3:51 am 154
@jesse:
A lot of projects were envisioned months ago, ie purchase of land, then going for permits etc.
Many want to get foundation in before the fall.
In other words…they were planned before the bubble started to deflate.
Better indicator is current sales…they feed the feedback loop..ie " list – sell – buy – redevelop-sell ".
I am tracking a duplex project in Richmond….quite nice..finished..including landscaping..FOR SALE has been on for months.
Best parameter is what the Indo -Canadian builders are doing….they would be the best canary in the mine.
Like or Dislike:
0 
0
July 11th, 2011 at 4:05 am 155
@bubba: "they were planned before the bubble started to deflate"
Sure but there has been presale demand for these projects. The data we are seeing now and the anecdotal reports of presale lineups weeks before sales office doors opening are not unrelated.
The Kerr St – Marine Drive development was started in May, that is a huge development but I don't know how many in that development were booked.
Like or Dislike:
0 
0
July 11th, 2011 at 4:28 am 156
@jesse: How much room in Canada/BC is there for funny reporting? You're right about side deals, there's some potential for cash-back deals (like in the US where the sale price is inflated so the seller can pay buyer's closing costs). When I sold my condo, it closed at a small discount, because buyer was paying the pending special assessment, something that would never make it to MLS, especially as it was an addendum to the contract.
It is disturbing that realtors, or real estate boards, would withhold market data like that. Must do wonders for their reputation and buyer confidence.
Like or Dislike:
0 
0
July 11th, 2011 at 5:10 am 157
@jesse: Developers have a lot of soft costs just to get to final permitting stage. Even in a soft market, most small-medium developers do not want to risk being stuck with just serviced land (hard to sell) or no financing. Better to build while there's still financing, and then burn off inventory at your leisure. It's easier to sell the inventory, than sell the serviced bulk land. And let's not forget developers pay themselves mgt fees as part of construction budget. How much you wanna bet the Maleks were collecting huge fees right until the end?
Like or Dislike:
0 
0
July 11th, 2011 at 3:37 pm 158
@space889:
"So what? MS still copied it from Netscape who came out with the browser first and I’m not Netscape didn’t like the fact that MS did a Netscape clone. Yes the stuff it is based on is public domain but MS still stole the idea of browser, what it can do, look like, etc from Netscape."
dude, if you're going to press a point, at least argue correct facts – it goes a long way to giving you credibility.
The underlying protocol (HTTP) is freely licensed. However, browser software is not. Mosaic was the first popular browser, developed by NCSA in the mid-90's. Microsoft licensed the Mosaic browser as the basis for IE 1.0. Mosaic later spun off into Netscape – so in reality Netscape licensed their own technology to their main competitor.
Like or Dislike:
0 
0
July 12th, 2011 at 11:00 am 159
if the usual suspects on this blog invested half of their time they spend here in improving their personal situations, they might be able to afford to buy. keep sulking
Like or Dislike:
0 
0