Mortgage loan approvals by province

One metric that nicely captures both the credit and mass psychology components of the current Canadian real estate craze is the total dollar amount of mortgage loan approvals as a percentage of GDP.

[…]

The total amount of mortgage debt would be expected to rise, but in a healthy and sustainable real estate market, it would rise in tandem with GDP growth, meaning loan approvals as a percentage of GDP should stay range bound. That they haven’t is but one more indication that this is a market driven by unsustainable dynamics.

http://www.theeconomicanalyst.com/content/mortgage-crazy-look-loan-approvals-province

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Li Kai Shing
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Li Kai Shing

Hoo boy #1

bubba
Guest
bubba

Quick look at graphs…compared to other Provinces,…..BC looks pretty F*cked.

PS good scoop…thanks Mansur al-Hallaj. !!!!

space889
Member
space889

@jesse: Continue from last poast, the jurisdiction in which the VAT is being applied is in a way subsidizing the goods being sold in another jurisdiction where there is no VAT. So when a BC company sells products to Albert and now getting the HST refund, the lost money has to be made up somehow and likely being made up by taxing BC residents more.

As well, please remember that HST levied on the final product for things like services means that it is taxed not just on materials/equipment but also on labour and profits. Most of prices for services like haircuts, restaurant meals, etc are labour and profits. The savings from HST in these cases are relatively minor and even if fully passed on will not offset the extra tax on labour and profits.

bubba
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bubba

Talking to a property manager of a long- established Vancouver commercial landlord.

One tenant is a service station(Shell) … who pays triple net.

Rent = $ 170,000 per year

Taxes = $ 220,000 per year.

Side bar:

The average soil remediation/clean-up cost per closed gas station site is approx $2.3 Million. As a tenant they are obligated to pay it.

Frank
Guest
Frank

Here are Larry's numbers

Vancouver East & West*

New Listings – 70

Back On Market Listings – 0

Price Changes – 15

Sold Listings – 33

Vancouver All Areas*

New Listings – 244

Back On Market Listings – 1

Price Changes – 91

Sold Listings – 106

*Attached & Detached – Date: 09/09/2011 Time: 18:59 Pacific YatterMatters.com: Courtesy REBGV. Data believed to be accurate but is not guaranteed.

Best place on meth
Member
Active Member
Best place on meth

Pauls dailies are posted in the FFFA thread.

Weekly numbers for this holiday shortened week:

Listings 1202

Sales 418

Ratio 35%

September on pace for:

Listings 6090

Sales 2354

Ratio 39%

Inventory
Guest
Inventory

Sept 9, 2011

Richmond

New Listings 34

Price Changes 11

Solds 10

Vancouver West

New Listings 51

Price Changes 9

Solds 20

Vancouver East

New Listings 19

Price Changes 6

Solds 13

North Vancouver

New Listings 20

Price Changes 5

Solds 1

Burnaby

New Listings 28

Price Changes 6

Solds 11

Coquitlam

New Listings 33

Price Changes 7

Solds 12

West Vancouver

New Listings 12

Price Changes 4

Solds 6

Ladner

New Listings 3

Price Changes 1

Solds 1

Port Coquitlam

New Listings 9

Price Changes 6

Solds 7

Maple Ridge

New Listings 14

Price Changes 14

Solds 4

New Westminster

New Listings 7

Price Changes 4

Solds 9

Pitt Meadows

New Listings 0

Price Changes 4

Solds 0

Port Moody

New Listings 0

Price Changes 4

Solds 3

Squamish

New Listings 1

Price Changes 3

Solds 2

Tsawwassen

New Listings 3

Price Changes 2

Solds 1

Whistler

New Listings 5

Price Changes 5

Solds 2

Li Kai Shing
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Li Kai Shing

@Inventory:

Where are peepulz Re- Pub-Lick of Surrey data?

My dealer….errr pharmacist…. says 3 for 1 sale..buy a baggie + HST…. get 3 condos in Whalley- Newton

Inventory
Guest
Inventory

Sept 6 to 9, 2011

Richmond

New Listings 165

Price Changes 46

Solds 50

Vancouver West

New Listings 289

Price Changes 68

Solds 80

Vancouver East

New Listings 115

Price Changes 43

Solds 50

North Vancouver

New Listings 99

Price Changes 25

Solds 23

Burnaby

New Listings 142

Price Changes 44

Solds 52

Coquitlam

New Listings 91

Price Changes 31

Solds 30

West Vancouver

New Listings 51

Price Changes 20

Solds 15

Ladner

New Listings 14

Price Changes 11

Solds 2

Port Coquitlam

New Listings 36

Price Changes 18

Solds 17

Maple Ridge

New Listings 58

Price Changes 58

Solds 22

New Westminster

New Listings 49

Price Changes 15

Solds 22

Pitt Meadows

New Listings 11

Price Changes 6

Solds 8

Port Moody

New Listings 25

Price Changes 16

Solds 10

Squamish

New Listings 14

Price Changes 9

Solds 6

Tsawwassen

New Listings 11

Price Changes 7

Solds 3

Whistler

New Listings 20

Price Changes 14

Solds 7

Inventory
Guest
Inventory

Sept 6 to 9, 2011

North Delta

New Listings 13

Price Changes 13

Solds 8

North Surrey

New Listings 48

Price Changes 35

Solds 20

Surrey

New Listings 92

Price Changes 44

Solds 36

Cloverdale

New Listings 35

Price Changes 18

Solds 14

South Surrey Whiterock

New Listings 87

Price Changes 36

Solds 35

Langley

New Listings 61

Price Changes 52

Solds 32

Abbotsford

New Listings 56

Price Changes 50

Solds 30

Mission

New Listings 32

Price Changes 15

Solds 11

Chilliwack

New Listings 52

Price Changes 22

Solds 9

bubba
Guest
bubba

Is the end in sight for big new homes?

http://blogs.vancouversun.com/2011/09/09/is-the-e

vreaa
Member

Vancouver RE 'Jumps The Shark'?

Candidate Moments

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

The envelope, please…

Keeping An Eye On Th
Guest
Keeping An Eye On Th

http://www.irishtimes.com/newspaper/finance/2011/

"The government-owned company currently insures $536 billion in mortgages and has just $11 billion in equity: just 2 per cent equity against its total exposure. It’s easy to envisage a scenario in which the taxpayer is left holding the bag."

Smoke and mirrors. Canada has socialized subprime.

Li Kai Shing
Guest
Li Kai Shing

Where is everybody ?

Must be golfing with Carney Flaherty and Harper.

If not, who cares?

Hubert
Guest
Hubert

Wow. Those graphs really make this bubble clear:
http://www.theeconomicanalyst.com/content/mortgag

BC is leveraged to the gills, 20% of GDP in Mortgage Loan Approvals? Where are all the rich foreigners who paid cash? How can we have that much wrapped up in mortgages in BC?

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