Friday Free-for-all!

It’s the end of the week and that means it’s time for another open topic discussion and weekend news round-up. Here are a few links to kick off the chat:

got your 17k party hats ready?
Center of the Universe located
Bubble chasing off UBC staff and faculty?
CREA: Nations housing market on ‘solid footing’
One dollar luxury home fails to sell
Home seller offers $1000 worth of booze to buyer
are drunks the only buyers left?
boomers navigate stormy markets

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

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604 Receding Gains

@Li Kai Shing

Note the plywood covering the window to the left of the car crash site at the RBC on No. 3 Road in Richmond. Apparently someone went through that window last week while parking. And over the last two years other locals have creatively used the ATB booth and the front door as an extended parking lot.


Remember the legend of the chinese investors flocking to Vancouver? The myth had also taken on an angle that they had started heading to South Surrey, White Rock! Well, a colleague of my wife who is not a realtor and who is very familiar with the south surrey real estate scene and, who i might add, has lived in White Rock his entire life, stated recently that reports chinese moving to the area were completely fabricated by local realtors. In fact, he went on to state that a local realtor working at homelife b******** realty by the name of J. T#t@s (name withheld because i dont want VCI sued) began spreading the rumor through a network of mortgage brokers and real estate lawyers. It is obvious that something wasn't adding up and this would make sense… I will state however,… Read more »


[Burnaby SFH MOI rockets up to 13.3 months]

Burnaby: 6.1 -> 13.3

Coquitlam: 6.6 -> 12.7

Richmond: 11.5 -> 15.1

I guess instead of busy buying properties after the "tradionally slow" summer season, people are busy selling.

*Stats calculated from Larry's numbers



I had Chinese bastard landlord for 4 years always forcing me to sign a year lease except for last year when he sold apartment. It was easier for me to sign and just break the lease when I decide to leave then talking to prick who didn't want to listen and kept repeating that everybody always renews on yearly lease, idiot.


Worst New Home sales in September in Vancouver West?

Where are the buyers? Currently there are NO sales of "NEW" HST Homes. there are 71 units available. Five more days to go for a sale. There has never been a ZERO New home sale in Van West since 1994 (Records only go back to 1994).

Vancouver West

New home sales

Sept 2010 / 2011

Listed 61 / 71

Sales 9 / 0 ***As of Sept 25, 2011

Van West Sept new home sales:

2008 = 4

2009 = 11


. Same thing happened to us, but the terms of our lease is such that after one year it automatically reverts to month to month. Unless the landlord specifically requests a one year at renewal, all leases (in BC at least) revert to month to month after the original term has been met. Our landlord seems to think that she is renting to us below below market value (we're not – lots of craigslist ads prove we are at market value) but we are good tenants so I think that won out in the end.

Arnold Schwarzennege

Ya !!!

Gold ist goodt

I eat itd vit mein vitamin regimen-zei.

Maken zei biceps strongen….and thong shorts tightens-zei… with grossen bulgens-zei.

Fraulein jumpen -zeibones muchen gut!(…no Greeken-zie allowdt ! )

Highly recommend-ziegt !!!.



Learn to decipher coded language(and grow a set/pair)

Your Landlord reads VCI, and sees the future.

Tell him month by month….6 months at best….or you bail…



@jesse: ….How about: RY and the other banks are heavily regulated and don’t need smart people working for them to be successful; in fact it’s probably better that way — look at what happens when firms like GS attract the “best and the brightest”. …. Ya, I get why they want to do it, it's just that offering a pension is a big attraction for potential employees (or should be). And when they say they want a predictable long term pension costs – good gravy, there in the 'business' for heavens sake – and they don't trust their own ability to make sound investments? What's that tell you about the entire financial system? And the same people are regularly trying to met to buy into there investment schemes, now that they've advertised that they actually don't know what their doing?… Read more »


@Anonymous: Check the renewal terms on your lease? It depends.


I've been renting for year and now my landlord wants me to sign a new lease for another year.

I was under the impression the lease I signed when I moved in was all that was required and after a year the agreement was monthly. Can he kick me out if I don't sign a new agreement?

Vulture Fun

@Anonymouse: Before I step back into it, I must remind everyone that I did try to steer us back to real estate! Looks like Mark was kind enough to answer the question. I can easily store $5,000,000 CDN fiat bucks worth of gold practically anywhere. I can even dump it somewhere in Indian Arm, mark it on my GPS, and come back in 50 years where I will find it undamaged. $5,000,000 worth of oil? Well, I live in a residential area, so I don't think a tank farm is really an option at this point. Think of it this way: if you were going to stuff your loot in a safe deposit box and come back 50 years later, would your wealth storage vehicle be gold or CDN? Gold's been money for 5000 years. Over that time 3800 fiat… Read more »


@Anonymus: Trump leased to a company that is involved in PM exchange. Also Trump used the lease, made public, to criticize Obama on his economic policies.

My bet is that Trump accepted payment in gold but also took out a massive Au-USD swap to match his financing terms. But maybe not; the guy has defaulted before.


Trump did some chick…that's about it for this weeks wrap up


@Anonymus: "Trump did just last week."

If that's your example, thanks for proving my point.



By that criterion just about anything is a medium of exchange, since you can find a merchant somewhere who is willing to buy it from you as part payment for something he sells.

You're going to have to narrow it down a bit. How about "a unit in which things are priced".


"How is gold a medium of exchange?"

Trump did just last week.



"One ounce of pointless shiny yellow stuff, or enough energy to run the average household for 2 years?"

And where are you going to store your 2 year worth of energy? In the balcony of your Yaletown condo? That is why it is called store of value.


@Vulture Fun: 'I love the classic “you can’t eat gold” argument. '

Youre right, you can't eat oil either. But what would you rather buy? One ounce of pointless shiny yellow stuff, or enough energy to run the average household for 2 years?


@Vulture Fun: "I think gold satisfies all of those."

How is gold a medium of exchange? It was at one time but I challenge you to exchange gold for any commodity and not have it converted into its spot price in fiat currency before setting the terms of exchange.

That said, I felt so inspired by comments like yours that last week I went into my boss's office and asked, nay demanded, to be paid in gold doubloons. He laughed so hard and so long I could still hear him as I drove home at the end of the day.

Li Kai Shing

Yes … can eat is safe.

Just have your shit/dump in one of my pay latrines.


@YLTN @ Work:

IMHO…..the condo clusterf*ck will is just starting.

If HAM $$$ start to dry up….how the hell can a developer that did pre-sales to offshore buyers collect if they bail and stay in China ?

As is the norm as things start to tank, developers will shit and cut corners,…producing a lot of shitty product with all the grief for buyers down the road.

Just hold yer nose and fasten yer seatbelts.


"I love the classic “you can’t eat gold” argument. Here’s a list of other things you can’t eat: cash, bonds, stocks, oil. I don’t see anyone arguing that those things are useless."

ha-ha, good one.

Vulture Fun

@patriotz: Money serves three specific functions. It acts 1. as a unit of measurement of exchange value 2. as a medium of exchange, and 3. as a store of exchange value for future use I think gold satisfies all of those. I love the classic "you can't eat gold" argument. Here's a list of other things you can't eat: cash, bonds, stocks, oil. I don't see anyone arguing that those things are useless. If you walk into Shoppers and try to buy a magazine with Yen, you will be denied. Does that mean that the Yen isn't money? I can simply take my Yen or my gold and exchange it for a pile of the official fiat money, at whatever the exchange rate is for that day. And why would I be eager to collect interest (currently a pittance) if… Read more »


@Vulture Fun:

"To me, gold is money."

This is one of those mantras the gold bugs chant that has no operative meaning.

Do you pay with gold when you go shopping? No.

Do you pay your rent/mortgage/taxes in gold? No.

Does your employer pay you in gold? No.

Do you borrow/lend gold and pay/receive interest in gold? No.

So what is it supposed to mean anyway?