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Friday Free-for-all!

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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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Dave
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First.

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6 years 8 months ago
Jacky
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First to point out that Dave has a disappointing comment after a long absence. C'mon Dave, we expect more from you! How's your construction business?

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6 years 8 months ago
Keeping An Eye On th
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"With markets tumbling dramatically, Finance Minister Jim Flaherty on Thursday urged his global counterparts to get their fiscal houses in order and take decisive action to prevent another recession"

Read more: http://www.montrealgazette.com/business/Flaherty+…

There we have it folks…. best place on earth, best country on earth, now we have the best Finance Minister on earth, giving free advice.

I think we should send a blue ribbon panel to Europe to solve their problems.

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6 years 8 months ago
Vansanity
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@Keeping An Eye On the Pimps: That reminds me of that SNL skit with Oscar Rogers proclaiming someone needs to fix the economy. Fix it!

http://www.youtube.com/watch?v=sKFRSL4wpcY&fe…

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6 years 8 months ago
Dave
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@Jacky:

Not much to say about real estate. The market is pretty flat, but remains steady.

The pending recession should make for an interesting couple of quarters.

Business for me is just fine, or actually great, thanks.

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6 years 8 months ago
Anonymous
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@Dave: Yes, but do you have your 17k party hat ready?

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6 years 8 months ago
pipewrench
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http://money.cnn.com/2011/09/22/news/internationa…

"Investors are losing their faith in policymakers' ability to right these economies," said Higgins. "Especially in the advanced economies, policymakers are lot more impotent than they were three years ago during that crisis. People are very skeptical there's any silver bullet."

lets hope that things hold together because the glue is mighty thin and we are all out of duct tape.

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6 years 8 months ago
Nuts and Bolts
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I was looking for a new apt to rent. It seems borderline impossible to get a decent 1Bd under 1000$. More likely 1400$. For 2BD it goes in the 1600$ very quickly. Is that a real trend, or is it just this month?

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6 years 8 months ago
Vansanity
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@Nuts and Bolts: It's a trend, I've been passively looking for months now and encountered the same prices. Seems to have been a shift in rent this past year or so. People need their mortgages covered afterall.

This has put high demand on cheaper apartment rentals. My recommendation to you is to stay put for the time being or look at apartment buildings (rental only) in areas of your preference.

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6 years 8 months ago
Terry X
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>>There we have it folks…. best place on earth, best country on earth, now we have the best Finance Minister on earth, giving free advice.

————

The best Finance Minister is worried about the huge house debt in the best country. Let's call him the "best" liar who said Canada was superior to other G7 in banks.

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6 years 8 months ago
vreaa
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Provincial Government Policies Will Not Save Us From A Housing Crash "Our province is a place of relative calm and stability, but we are surrounded in almost every corner of the world by economic turmoil" – BC Premier Christy Clark "We’re caught up in a very challenging global economic situation. We are in for a rough time and the provincial government can’t fix that." – Jock Finlayson, economist for the Business Council of B.C. The world is experiencing deflationary effects that are the result of forces related to the deleveraging of excessive debt. BC has thus far largely remained blissfully removed, by virtue of having kept the speculative mania in RE going, by ongoing debt-fueled consumption, and by importing money. We can't see how local RE related activity can insulate us for much longer. BC will, unfortunately, be swept up… Read more »
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6 years 8 months ago
anon
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This may not be directly about housing but please bear with me, as this post and the next have a theme.

We have a financial crisis looming and what has our Government been doing this summer?

First Stephen Harper says he doesn't want the Palestinians to have a country and will try and stop it.

Does anyone else find it ironic that we have sent our planes to bomb Daffy Ghaddafi and install the rebels which are also being supported by Iran, and yet the Palestinians who have an elected Prime Minister, have been living in a virtual prison for decades, have a good % who are Christian are being told to get lost!

Even 70% of the Israeli's say they would accept a Palestinian country. So why is Harper being so Zionist?

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6 years 8 months ago
anon
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Part two

The other thing the Government does is change the name of the Canadian Airforce and Navy to Royal and insist that all Embassies have a picture of the Queen prominently displayed, reversing 40 years of trying to separate ourselves from Mother England.

Why has he done these?

I think he is trying to rub Quebec's nose in the mud, hoping for another constitutional crisis, so when it hits the fan and housing busts and unemployment soars he has something to fall back on and blame.

And as for being the Palestinian situation, he is paying back his Ultra-Zionist backers like the Aspers, Riesman, Schwartz and of course the National Post. Sad that our Canadian sense of fair play is being compromised for one man's ambitions.

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6 years 8 months ago
pipa
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Sold all my RRSP. Thank god damage was not huge. I am not going to let casino market terrorists play with my money. Fuck them. People you should take your money before is too late. It is going to deflate like RE.

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6 years 8 months ago
Bilderberg Banksters
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Thanks pipa…you fell for it.

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6 years 8 months ago
vangrl
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"Sold all my RRSP. Thank god damage was not huge. I am not going to let casino market terrorists play with my money. Fuck them. People you should take your money before is too late. It is going to deflate like RE."

ugh, you did exactly what you're not supposed to do, sell out of panic at the lowest point in 15 months.

so much fear and panic in the air provides great buying opportunities not selling.

How much you want to bet that the markets will be substantially higher 3 years from now?

Just buy dividend blue chips and sit tight, Enbridge and Transcanada (just to name a few) are just barely off their all time high. Get into some utility or pipeline stocks that are yielding over 6% right now.

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6 years 8 months ago
bubba
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Anon:

You have opened a HUUGEE can of worms by even discussing Zionism, but congratulations…..

I have to admit that I had a very vague understanding of it….but its history and influence on world events is HUGE.

…and no…..being Anti Zionist is not anti -semetic….or anti Jewish…there are many Anti- Zionist Jews.

I'll post some interesting links later

However, our western politicians have unilaterally bought into this Zionist issue in almost knee- jerk blind support fashion.

There is no benefit whatsoever to us in supporting Zionism, its simply a gun to head of western politicians who got addicted to fiat currency and now have to play ball

The key to this "Royal F up was the Balfour Declaration.

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6 years 8 months ago
Dave
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@bubba:

Please don't. It's about as far off topic from Vancouver real estate as you can get.

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6 years 8 months ago
bubba
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I see the Federal NDP still has a big boner after their Quebec win. NDP never realize they are simply a party of last resort, protest vote for Leftie Retards. Now they have the KY jelly and vaseline ready to be the new BQ….favour Canada..its always about power and pension for these NDPricks http://www.richmond-news.com/news/doesn+share+fed… Federal NDP leadership candidate Brian Topp's recent visit to B.C. served as a reminder that the sudden success of the party at the national level presents a potential downside for the provincial wing. Topp, like many other federal New Democrats, expressed his support for giving Quebec more seats in the House of Commons at the expense of provinces such as B.C. He argues Quebec has a unique and historical place, and so must be treated differently. The federal NDP doesn't want to expand the House of… Read more »
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6 years 8 months ago
jesse
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@realbubba: Family blog.

Also I resent the word "retard" in that context. It's offensive to those with developmental disabilities.

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6 years 8 months ago
Dave
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@vangrl:

I think the DOW will see 8,000 before it sees 14,000 again.

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6 years 8 months ago
jesse
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@Dave: "the DOW will see 8,000 before it sees 14,000 again"

I think you'll find a lot of people agreeing with you. Check out the yields on those medium-duration guberment bonds.

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6 years 8 months ago
pipewrench
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I hope that your exposure to precious metals is limited right now because the world just laid a egg today.

-5% gold

-14% silver

-6 copper

I don't know if that is a record for 1 day but it screams panic and selling for a cash position.

market is nuts. Enjoy if your out of debt, cry if your not.

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6 years 8 months ago
patriotz
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@anon:

"So why is Harper being so Zionist?"

He's not being "Zionist", he's being Likudist. Many Israelis feel that the continued rule over Arabs is betraying and corrupting the original goal of Zionism, which is Jews ruling Jews. And that original goal is fine with me.

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6 years 8 months ago
N
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I have taken gold bugs and xenophobia in stride. But tinfoil hat wearing of the Zionist conspiracy theory variety is getting embarrassing. What are we going to discuss next, alien abductions?

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6 years 8 months ago