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
4 years 9 months ago

First!!!

VMD
Guest
VMD
4 years 9 months ago
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) :… Read more »
Don Lapre
Member
Don Lapre
4 years 9 months ago

Third!!!!!!!!

chip
Guest
chip
4 years 9 months ago

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
4 years 9 months ago

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
4 years 9 months ago
@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
4 years 9 months ago

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
4 years 9 months ago

Great news for the flailing BC economy.

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

Bubba
Guest
Bubba
4 years 9 months ago
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… Read more »
Anonymous
Guest
Anonymous
4 years 9 months ago

@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
4 years 9 months ago

#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
4 years 9 months ago

@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
4 years 9 months ago
@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… Read more »
Bubba
Guest
Bubba
4 years 9 months ago

@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
4 years 9 months ago

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
4 years 9 months ago

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
4 years 9 months ago

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

Anonymous
Guest
Anonymous
4 years 9 months ago

@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
4 years 9 months ago

@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
4 years 9 months ago

@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
4 years 9 months ago

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
4 years 9 months ago

@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
4 years 9 months ago

@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
4 years 9 months ago

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
4 years 9 months ago

@Someguy:

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

southseacompany
Member
southseacompany
4 years 9 months ago

In today's Province: "Housing 'bubble' bound to burst"
http://www.theprovince.com/business/Housing+bubbl

And here's the view from Ireland: "Canada's Northern Tiger looks very like a bubble", Irish Times
http://www.irishtimes.com/newspaper/finance/2011/

N
Guest
N
4 years 9 months ago

@jesse:

"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?"

Basically, the change worked so that consumers paid a little bit more, but businesses stopped paying PST (they never paid GST). The HST was not really about individuals. It was a tax break for businesses.

pipewrench
Member
pipewrench
4 years 9 months ago

http://www.nytimes.com/imagepages/2011/09/04/opin

a chart that puts things in perspective. Debt bubbles are just wonderful aren't they?

Bubba
Guest
Bubba
4 years 9 months ago
@Best place on meth: Smart Meters? are bad for the average citizen…do some googling and YOUTUBE. Many BC Local Gov'ts are doing as follows QUOTE: Further to my last letter dated August 8, 2011, I would like to inform you that last night (August 25), Victoria City Council unanimously passed a motion to write to provincial Ministers, asking for a moratorium on the installation of smart meters until options are available for people to opt out. 11 other City/Town councils in BC have already passed similar resolutions over the past months: Langley, Colwood, North Cowichan, Lake Cowichan, District of Highlands,… Read more »
patriotz
Member
4 years 9 months ago

@Anonymous:

There will be a second "lost decade" after that while BC, and Canada as a whole to a lesser extent, try to put the real economy back together again. This is where the US etc are already.

Keeping An Eye On Th
Guest
Keeping An Eye On Th
4 years 9 months ago

Just got off the phone to Flaherty, boy was he pissed, at me. He hung up without saying bye.

I told him to stop taking credit for the positive indicators, citing prudent fiscal management, and blaming the rest of the world when indicators turn negative.

He became quite indignant when I told him that his latest grandstanding interview taking on the Canadian Retailers for price gouging is a deceitful attempt at distracting the people from the real issues.

He replied that he had been taking points from the “greatest place on earth, and British Columbia’s Golden Decade” hand book.

bubba
Guest
bubba
4 years 9 months ago

Apparently Earth Quake hit Van-Isle …. Courtenay area.

Best place on meth
Guest
Best place on meth
4 years 9 months ago
specialfx3000
Member
specialfx3000
4 years 9 months ago

@Best place on meth:

I didn't feel a thing but family member that works at the Telus 'boot' felt it.

HAM was freaked out about Richmond after the Japan quake, now hopefully they'll get freaked out about Burnaby as well.

southseacompany
Member
southseacompany
4 years 9 months ago

Felt it in the West End.. building swaying and walls cracking.

Anonymous
Guest
Anonymous
4 years 9 months ago

@patriotz: "We can’t have an election until April 2013 because that’s what the law says"

Sorry – you got that wrong. The law says you can't have it after May, 2013 but is silent on having it before.

bubba
Guest
bubba
4 years 9 months ago

#19 patriotz

Yeah:

No whore like an old whore

Translation: They are all scared we may kick their asses out in the real world amongst us. ..very scary. By delaying till 2013, they can "top up/be eligible" for gold-plated pensions and annual salaries starting around $100,000 plus various perks and benefits.

NDP = Vampire Squid/Ass Remora/ "all talk" morons, useless bloodsucking F*cking commie bastards. Also : NDP eat brains and don't come out till after dark…gutless SOB's

PS See..even Bill "HST" Vander Zalm hates em

http://www.youtube.com/watch?v=ju3h7yk4Hcg

bubba
Guest
bubba
4 years 9 months ago

Earth Quake update:

Apparently 6.7 Richter @ Point Hardy

Hmm Tsunami….at least wash False Creek Floaties away and help OV sales.

Li Kai Shing
Guest
Li Kai Shing
4 years 9 months ago

Turnstiles may limit flow to future riots: TransLink

http://www.bclocalnews.com/richmond_southdelta/ri
======

I very pissed.

This is only way to support economy …new venture " Riot Tourism"

Also, this is multi-cultural bonding..our own Quasi-United Nations !!!…..a chance to bond !!!!

Canned Schmucks never get to Cup final…probably transfer team to Newfoundland soon..too embarrasssing and thus slow condo sales….. but this world class riot has many tangential opportunities !

Maybe stage at BC Place !

PS Meth Man ..is that you with SideShow Bob haircut ?

No-one want to mess with you !!!(…if ever get out of basement suite again )

jesse
Member
4 years 9 months ago

@N: "the change worked so that consumers paid a little bit more, but businesses stopped paying PST"

So this was a reduction in taxes or a rise in taxes? I'm awfully confused, because the government stated that because taxes are going up, or down, or whatever, their deficit goes up.

I'm not trying to be obtuse here, I'm trying to demonstrate how confusing tax policy is for most people.

jesse
Member
4 years 9 months ago
Bloomberg: Executive Board Member Stark of Germany Steps Down Juergen Stark resigned from the European Central Bank’s Executive Board after protesting the bank’s bond purchases on a conference call earlier this week, said a euro-area central bank official familiar with the meeting. During the Sept. 4 call, Stark, 63, expressed his strong opposition to the program, which was expanded last month when the ECB started buying Italian and Spanish bonds, said the official, who spoke on condition of anonymity because the discussions are confidential. Stark was supported by the central banks of Austria and the Netherlands, the person said. The… Read more »
Devore
Member
Devore
4 years 9 months ago

@jesse: Is that the founder of Stark Industries? Prominent indeed! 🙂

Of course Germans are opposed to ECB bond purchases, as well as Eurobonds, because when push comes to shove, they'll be the ones on the hook for them.

Still, it seems like a drastic "taking my ball and going home"-type move. I thought only Teabaggers were allowed to be petty.

N
Guest
N
4 years 9 months ago
@jesse: It was both: a reduction in taxes for business and a raise in taxes for consumers. The decreased rate of taxation on businesses was expected to increase the amount of business done in BC and thus increase total revenues.You don't hear the government explaining that, because it is not a very popular message.The truth is, however, that you cannot really tax business, as businesses either pass on costs to consumers or pay less to their owners or both, so the tax is always on people. But taxing businesses sounds good to most people, and taxing people sounds bad, so… Read more »
Devore
Member
Devore
4 years 9 months ago

@N: The inescapable fact is there is only one taxpayer.

Anonymous
Guest
Anonymous
4 years 9 months ago

@north: No, I'm talking about the ones that are on actually on Ash street and 22nd Ave. The ones you are referring to are on Cambie and 33rd. I didn't even know they managed to sell 2! I think there is actually a 4th one that's behind the 3 units that are on the street.

At least those ones looked like they had a proper concrete wall between the units rather than some drywall and insulation foams.

vreaa
Member
4 years 9 months ago

Complex Pressures On 'A Simple Man'

"My rant about the Asian mentality toward housing. My getting married and having children is, to my parents, the sum total of my goal for existence. I can’t move out of Vancouver even if I want to."

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

Anonymous
Guest
Anonymous
4 years 9 months ago
"So this was a reduction in taxes or a rise in taxes? I’m awfully confused, because the government stated that because taxes are going up, or down, or whatever, their deficit goes up." When economic activity goes up (more businesses start up, more people employed) the amount of taxes collected goes up due to a larger tax base. You can have a tax reduction but increase tax revenue. It also works the other way. This is the part the NDP doesn't get. Sometimes when you increase taxes you collect less overall taxes due to less jobs and business activity. There… Read more »
Anonymous
Guest
Anonymous
4 years 9 months ago
@patriotz: Laws are not set in stone and can be changed. As well it's Christy who was talking about early election when she first got elected which she is now backing away from. More likely due to fear of losing than what the law says. Actually PST coming back would be a benefit to economy if the government claim that they are now taking in less tax money is true. It would mean more money in the hands of the average people rather than taxed away under HST. At the very least, the restaurants sector will get a reprieve. We… Read more »
jesse
Member
4 years 9 months ago

@N: "The decreased rate of taxation on businesses was expected to increase the amount of business done in BC and thus increase total revenues"

Again, I am not trying to be snarky so please follow through with me here. I'll put this as plainly as possible. There are two scenarios, and I'm hearing both from various sources:

1) Lowering the overall tax rate increases government revenue

2) Raising the overall tax rate increases government revenue

Does the HST raise or lower the overall tax rate?

Best place on meth
Guest
Best place on meth
4 years 9 months ago

Greek default could come this weekend.

http://finance.yahoo.com/blogs/breakout/european-

There's your earthquake.

wpDiscuz