Friday Free-for-all!

It’s that time of the week again! Let’s do our end of the week news round up and open topic discussion thread. Here are a few stories to kick off the chat:

Summer pullback in Vancouver house prices
What’s really driving house prices?
BCs top 12 firms lose 6 billion in market value
Everybody wants cash
The CKNW ‘Jurock’ problem
Want to rent a yard for $50 an hour?
Keep a watch for vandal firebugs in Shaughnessy

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

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patriotz
9 years ago

@b5baxter:

"Like many here I have been expecting a 30-50% drop in Vancouver Real Estate followed by a recovery in 5-10 years. "

If what you mean by "recovery" is a return to the absurd prices of today, no.

If you mean "recovery" in the sense of a sick person getting better, i.e. a return to normal prices with respect to incomes, yes.

Anonymous
9 years ago

@bubba:

re: clinton and repealing glass steagall – i cannot believe these dummies will give you a junk rating for saying this,

IT'S TRUE

and it was sen. gramm et all that wrote the legislation, the same sen. gramm who said in a letter to treasury sec. john snow in 2003: "This proposal will limit economic freedom, and reduce the pressure that potential capital flight imposes on high taxing countries worldwide."

he's an interesting patriot, isn't he? (and he's a republican)

i hope you aren't some gibbering racist republican – you've got some good points.

rp1
rp1
9 years ago

#127 @Patiently Waiting: Wow, and I thought the dope industry had unlimited amounts of cash. What happens when Chinese embezzlers can no longer afford to buy here? Will we find James Bond villains hiding out in West Van? Or perhaps a portal to another dimension with money spilling out, i.e. the Bernank Zone?

Patiently Waiting
Patiently Waiting
9 years ago
Patiently Waiting
Patiently Waiting
9 years ago

Yet another local industry forced out by expensive real estate:

http://www.theprovince.com/news/Cheap+housing+lur

kansai92
kansai92
9 years ago

@Patiently Waiting:

Was an eye opener for me too. I mean I know some people are stretched but two full time jobs. Thought my bud was just exaggerating but its honest to goodness truth. Fellas been doing this for 10 months now and counting, looks like a zombie at work. No end in sight. Fckn sad man.

b5baxter
9 years ago

Okay, this is a bit scary:

http://www.theglobeandmail.com/report-on-business

Like many here I have been expecting a 30-50% drop in Vancouver Real Estate followed by a recovery in 5-10 years. A typical real estate bubble cycle.

But if this article is correct we may see a Japanese style recession leading to a 20 year period without values returning to their current levels.

Those backyard chickens and vegetable gardens at city hall are going to look like a brilliant idea…..

macho nacho
macho nacho
9 years ago

@fixie guy: I wouldn't rule out the Central Banks' & Fed's role in facilitating the free money that enabled the massive derivatives bets.

McLovin
McLovin
9 years ago

WOW you guys are right why could I not see it?

Run for the hills the stock market is going to zero! Microsoft has virtually no debt and makes $5 mil net net a day but I better sell Monday am cause its going to zero.

Monday am I will be buying what the shortsighted chicken littles will be selling.

bubba
bubba
9 years ago

@Best place on meth:

Good one…..

Best place on meth
Best place on meth
9 years ago

Shanghai market has now gone off the rails and fallen to a 52 week low.

Nobody does crashes like the Chinese.

fixie guy
fixie guy
9 years ago

119 bubba Says: "Clinton was in when Glass – Steagall was REPEALED"

Correct. Don't forget his refusal to regulate over the counter derivatives, both decisions essential components of the bubble.

bubba
bubba
9 years ago

@fixie guy:

Clinton was in when Glass – Steagall was REPEALED

next…

bubba
bubba
9 years ago

@Best place on meth:

Hey …but the Lions finally won…..Get rid of coach Wally Guano….too many Italians in sports in this town…stick to bocci

fixie guy
fixie guy
9 years ago

115 Best place on meth Says: "Navy SEALS down 31"

Incorrigible. That's what you are mate. 😉

fixie guy
fixie guy
9 years ago

114 bubba Says: "Obama had a choice…and made a bad one…bailing out Wall Street pigs who made veiled threats ."

Bush was president when TARP passed. Next..

Best place on meth
Best place on meth
9 years ago

And we're off, Sunday night score so far:

Hang Seng down 618 (new 52 week low)

Nikkei down 127

Navy SEALS down 31

Taiwan down 81

Shanghai just down all the time

Dow futures down 207 (gonna be an ugly opening in the morning)

Sleep well, everyone!

bubba
bubba
9 years ago

I find it rather bizarre that some still feel a lot of old so – called rules still apply.

This is new frontier folks….

Obama had a choice…and made a bad one…bailing out Wall Street pigs who made veiled threats .

The only good thing was more people are now aware of how the system really works.

There is not security or refuge in a-n-y investment…the Wall Street boys are just leading the sheep as they choose.

Anonymous
Anonymous
9 years ago

@McLovin:

"Why? This situation is nothing like Lehman and 2008."

It is actually the same problem. They just kicked the can down the road. Debt was transferred from banks to government. Governments are now about to default and contagion will affect all equity markets. We are in a credit bubble. Housing is only part of that bubble.

4SlicesofCheese
4SlicesofCheese
9 years ago

@kansai92

My dad worked two full time jobs when he bought his first house, which cost 80k.

But that was cause he came to Canada literally with nothing, and had to raise 3 kids.

How people are buying million dollar starter homes is beyond me, oh wait sh!itload of debt and interest.

vreaa
9 years ago

Sunday late afternoon:

Stock Futures have opened; down 2%-2.5%;

Dow down 270

http://www.bloomberg.com/markets/stocks/futures/

Anonymous
Anonymous
9 years ago

so bears cannot afford to buy houses then how is your equity investment thus far? i guess, all of you are so smart that you buy all gold coins eh.

McLovin
McLovin
9 years ago

Bally, those are some great names that will be around whether Italy defaults or the Euro breaks up or whatever the disaster de jour is. Your question" What do you think will happen if the US tries to inflate their debt to a manageable level which would dilute the value of USD? I’m concerned that even if the stocks rise in value all the gains will be lost because of negative exchange rate moves." I agree that that is a very real concern. You can hedge your positions but that has a cost and a hassle to it. I look at it another way, I view currency flucuations as a hedge in themselves. I have virtually all my assets in C$ and I am paid future earnings in C$ so if the my US$ holdings drop in value to the… Read more »

Bally
Bally
9 years ago

@McLovin:

I've been following this strategy over the last few months & will continue on Monday. In particular I like BDX, PG, LLY, JNJ, KO, & PEP. Also, a little riskier GE, PFE, & POT.

What do you think will happen if the US tries to inflate their debt to a manageable level which would dilute the value of USD? I'm concerned that even if the stocks rise in value all the gains will be lost because of negative exchange rate moves.

bubba
bubba
9 years ago

Hmmmmmm…this makes it interesting

Qaddafi the Jew, the Rothschilds & the Mossad

Posted on Pakalert

http://www.pakalertpress.com/2011/07/25/qaddafi-t

When an Arab journalist told me that Muammar Gaddafi was Jewish and that his mother’s relative lived in Israel and had been on Israeli television, I thought it must be some kind of joke. But it’s not. Here is the Israeli program in which his second cousin and another relative explain that the “Madman of Libya” is actually a Jew. According to the relatives’ testimony on this show, there is no question that Gaddafi is a Jew under Jewish – and Israeli law. Gaddafi’s Jewish blood explains his very close connection to the Rothschilds and their preferred intelligence agency – the Mossad. Now it all makes sense.