Friday Free-for-all!

It’s the end of the week! Lets do our regular weekend news round up and open topic discussion thread! Here are a few links to kick off the chat:

BC tops nation in consumer debt
BC deficit triples with HST rejection
Big listings, few sales on Vancouvers westside
More than half of Canadians live paycheque to paycheque
Cops want racing luxury cars forfeited
Conference board sees big shift in housing as boomers retire
Xceed Mortgage posts $1.7 Million loss
Low rates could spur mortgage change
Tenants complain of leaky Surrey building
Investors no longer find Bernanke stimulating?

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

Sort by:   newest | oldest | most voted
Me
Guest
Me

First!!!

VMD
Guest
VMD
What happened to the HAM-villes? Richmond #Sales: 2011-8 (2010-8) : % Change Detached : 95 (124) : -23% Attached : 69 (84) : -17% Apartments: 96 (127) : -24% New Listings 2011-8 (2010-8) : % Change Detached : 251 (165) : +52% Attached : 165 (125) : +32% Apartments: 244 (205) : +19% Burnaby #Sales: 2011-8 (2010-8) : % Change Detached : 96 (89) : +8% Attached : 66 (53) : +25% Apartments: 169 (151) : +12% New Listings 2011-8 (2010-8) : % Change Detached : 182 (100) : +82% Attached : 124 (114) : +9% Apartments: 258 (205) : +26% Vancouver West #Sales: 2011-8 (2010-8) : % Change Detached : 130 (134) : -3% Attached : 57 (53) : +8% Apartments: 337 (324) : +4% New Listings 2011-8 (2010-8) : % Change Detached : 270 (196) : +38% Attached… Read more »
Don Lapre
Member
Don Lapre

Third!!!!!!!!

chip
Guest
chip

This doesn't bode well for economist predictions that Canada was bouncing back from negative growth in the second quarter.

"OTTAWA — There were 5,500 fewer people employed in Canada last month, Statistics Canada said Friday."
http://www.vancouversun.com/business/Canadian+emp

And in terms of wealth creation, the underlying numbers are worse than the headline:

"Private-sector employment dropped by 20,600, there were 22,000 more workers in the public sector and 6,900 fewer self-employed, the data showed."

Bubba
Guest
Bubba

HAM-ville(Richmond) = Twilight Zone

One project I kept my eye on was next to Palmer High School.A

" duplex" was built,and actually a nice design , and finished over a month ago.

The For Sale sign has been up since it was near lock up.

It backs onto the High School, and elementary school is nearby..so one would think it would be attractive to a HAM buyer.

Been " For Sale" for 4-5 months.

space889
Guest
space889

@Bubba: The two custom build houses on a sub-divided lot near my area in Fairview, Cambie & 25th Ave was sold without being listed on MLS! I went to the RE agent's website and each one was ask over $2.2 or $2.3M! I thought those two would have languished on the market as the lot was narrow, only 23ft wide and other houses in the area on standard lot was only asking $1.7M. The agent was Caucasian and I haven't had a chance to see the owners yet. I am really curious as to how bought thes two houses.

space889
Guest
space889

Oh and I see the fear mongering campaign has began now that the Liberal's pet project HST has been defeated in the polls. I bet some wished that Gordon Campbell didn't change the rules to make it a simple majority rather than the original requirement of 50% of eligible voting population. I also loved how Christy was saying we can't call an election now because the markets/economy can't handle a possible NDP government and such outcome would condemn BC to another lost decade.

Too bad most people will actually buy these crap.

Best place on meth
Guest
Best place on meth

Great news for the flailing BC economy.

http://www.reuters.com/article/2011/09/08/us-usa-

Bubba
Guest
Bubba

SFH may be slow, IMHO SFH is still the best to own..the most Flex-uses

In Metro Van, with few exceptions, most SFH are in established neighbourhoods, few new SFH neighbourhoods actually built.

Condos, Apartments etc are still be built, continually adding to inventory. This dilutes the market…evey Hi Rise in say Richmond,max height = 16 storeys = over 100 plus units per Hi Rise….worse elsewhere. I say in last 6 months Richmond has likely added 1000 such units….not including low rise condos.

SFH can be converted into "condo" (suite) = revenue and compete against the glut of specuvestors who can't lower rent ie have high overhead costs (strata fees etc.)

Only Joker is if SFH is over-leveraged, otherwise I say most SFH listings are fi$hing expeditions.

Anonymous
Guest
Anonymous

@space889: ….we can’t call an election now because the markets/economy can’t handle a possible NDP government and such outcome would condemn BC to another lost decade.

Too bad most people will actually buy these crap…..

Ya, it would be a lost decade either way, but even more lost under the NDP.

north
Guest
north

#7 @space889

Those 3 Cowie row houses on Cambie st you are referring was on sale for over a year. All 3 had changed realtors a couple of times and had new prices, the unsold middle one's price was I am sure under 2 million and the 2 that sold were around 1.7 million. I saw them at open house. Yeah, I like to know who and how much they sold for as well.

Patiently Waiting
Member
Patiently Waiting

@Best place on meth: Makes sense in a depressed economy. Marijuana creates a false sense of well-being and lets you forget stuff…like that good job you once had.

Not sure why meth/coke use is down. Less partying? Methheads dying off? Less need for the boost when you have nothing to do?

jesse
Member
@chip: "doesn’t bode well" Yeah I agree, especially if the US continues its austerity measures. There is a greater-than-even chance, in my view, that the government will forgo its balanced budget mandate in the name of additional stimulus spending, in whatever form that takes. As has been pointed out, though, last time this happened a lot of this spending got plowed into real estate and mortgages through high household debt accumulation. The Bank of Canada thinks that is a bad place to pour more money. If they are going to start flooding the market with spending again, they will have to do something about mortgage growth. I've stated before that I think this was a good possibility anyways, even without economic malaise, because loan originations have migrated more into the low-ratio market out of the direct control of the government.… Read more »
Bubba
Guest
Bubba

@Anonymous:

Oh yeah…… talk about being really screwed if NDP , the party of " LAST n'LOONIE resort" …….slides into power like shite through a goose.

We should have Jimmy Pattison put up Billboards saying

" WILL THE LAST BC RESIDENT TO LEAVE PLEASE TURN OUT THE LIGHTS "

Bubba
Guest
Bubba

Re; Civic Elections and COV

Other Blogs figure VISION and COPE will get back in (majority) via default…the NPA is in such disarray..no other options on horizon .

Sure glad I don't live in that berg'. Everybody should buy stainless steel shorts, at least (3) more years of those F*cking retards.

bubba
Guest
bubba

Sorry folks…I seem to have forgotten my schizo meds today.

Forgive my ramblings on empty lots, one sold house and politics.

Screw you panzie bears. Listen to me now!

Bubba
Guest
Bubba

Scew you bubba. Stop talking to me – I mean my mind talking out loud.

Anonymous
Guest
Anonymous

@Patiently Waiting: …Not sure why meth/coke use is down. Less partying? Methheads dying off? Less need for the boost when you have nothing to do?…

Coke is down because there are lots of Real Estate professionals (yuk, yuk) out of work and meth is down because there's nothing left to steal to finance habits and nobody to buy from fences even if there was anything to fence.

patriotz
Member

@space889:

I also loved how Christy was saying we can’t call an election now because the markets/economy can’t handle a possible NDP government and such outcome would condemn BC to another lost decade.

We can't have an election until April 2013 because that's what the law says. Funny how the Liberals and the NDP haven't said much about this.

As for the HST, RE bears should be happy that the PST is coming back as it will be another blow to the real economy. Just hope you keep your job.

Anonymous
Guest
Anonymous

@space889:

I think 2002-2012 will be soon regarded as a lost decade. The city turned so unlivable and shallow for most locals unless they sacrifice high percentage of the income to housing and so called lifestyles.

Li Kai Shing
Guest
Li Kai Shing

Re: Car Forfeiture

I tink there is better solution….under" Save -Face" bitch – slap rules.

Force these insolent spawn of concubine tupperware orgy/party to drive beaters..at least 3 year old cars …maybe even Smart Cars and Ladas.

Take away cell phones, bluetooth, Apple devices and laptop.

Not allowed to take Math /Physics courses, no speakee Chinese in public, and not hog tables at UBC/Starbucks studying 25 hours a day.

No more "Slug walk" across Crosswalks…

Take to RedNeck camp..learn to hunt, shoot,fish shit- in -woods…pee to write name in snow….Understand Andrew Dice Clay Jokes .

Some good may come out of this

Someguy
Guest
Someguy

@Best place on meth:

Only problem is local cultivation is on the rise in a big way. Local cultivation leads to excess yields and likely lower export demand from BC.

jesse
Member

@patriotz: "RE bears should be happy that the PST is coming back as it will be another blow to the real economy"

I'm still trying to figure out how much of a "blow" it will be. The vast majority of my purchases were unaffected, and maybe even were reduced a bit for some of the services. Maybe streamlining the accounting made sense but how much was that really going to help?

whydoItry
Guest
whydoItry

Re: Cars

Never let the police have powers such as that. Having worked with cops, I know they WILL abuse that power. I know of one cop, that ticketed his ex wife's new friends. Cops are generally good, but you have to watch them. It's a thin line between them and the bad guys at times.

Best place on meth
Guest
Best place on meth

@Someguy:

I wonder if those new Hydro "smart" meters will have any impact on growers.

wpDiscuz