Friday Free-for-all!

It’s that time of the week again, here’s our regular end of the week news round up and open topic discussion thread! A few stories to kick off the chat:

Metal thieves urban mining in Richmond
Real Estate Agents in Cars
Any new tax on non-resident buyers could be ‘disastrous’
Bogus press release from housing activists
Century 21 City View Realty license suspended
Canadas banks brace for indirect exposure to Italian debt
Canadian wage gains keep slipping
Global housing bubble bust about half over

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

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Troll
Troll
8 years ago

@patriotz:

No, I don’t think we will see higher real prices for any dwelling type for decades.

What do you mean "we"? You bailed for Ottawa don't forget.

jesse
8 years ago

Canucks blow game 7, downtown riots

Lions win cup at home

Anger with foreign investment in real estate

It's 1994 all over again beeeatttch!!!

Oh yeah, the beginning of 1995 marked the peak for nominal RE prices for the next 9 years.

PennyStock
PennyStock
8 years ago

@jbL: "is this Merica that you talk about" That is a great post, thanks for the link. I agree with everything it says. You are right, America has severe wealth inequality and its political system is pretty much a plutocracy. But Canada and the US are pretty much the same from this perspective. To witness the wealth disparity, one can just take a stroll from Yaletown to DTES. For plutocracy, look no further than Campbell & BC Rail. Bank bailouts, negative real interest rates, stagnant wages: we've got them all too. Sure, if you're in the bottom 33%, Canada may be better, due to better social services. But if you're in the top 33%, I believe the US is better. You will likely have very good employer-sponsored healthcare. Because US cities are so socioeconomically segregated, you'll likely be able to… Read more »

RippedtoShit
RippedtoShit
8 years ago

jbl That was a good/worthwhile read. I have seen Pink Floyd in concert a couple of times….wild…beautiful…poetic…and I agree with the lyrics… That said, I don't think we'll ever change things, not for long…think Animal Farm… So, I've made it into the top 5%, I'm going to try and keep climbing, I see no other choice…. As a child I was raised in a close-knit, religious framework…the chuch I attended (which I helped to build with my own hands) was a beautiful microcosm of community values..the church attracted a broader audience, the revenues went higher…and it was corrupted….that is just the way of man, I for one now accept it. I don't like it one bit, but it is as old as time, is it not? Fear/Greed – once the chinamen see year over year decreases in Vancouver/westside I think… Read more »

jbL
jbL
8 years ago

@PennyStock

is this Merica that you talk about
http://www.zerohedge.com/news/guest-post-comforta

McLovin
McLovin
8 years ago

Pennystock:

"Every year I wait with baited breath to see what the outrageous events of the day will be"

You mean your grade 9 report card?

Go away and leave the blog to the adults.

McLovin
McLovin
8 years ago

USA : "Better healthcare. Better schools"

Pennystock you are an uneducated douche bag who is no more than 22 years old.

Grow up.

PennyStock
PennyStock
8 years ago

@Best place on meth: "Regardless, it's the US which is almost the same pile of shit as China these days. In a perfect world those two would destroy each other and the rest of us live happily ever after."

Gotta disagree with you on this one BPOM. I'd happily trade in my Canadian passport for a US passport anyday. Plenty of my friends feel the same way.

Better jobs. Better salaries. Better healthcare. Better schools. Lower taxes. Lower cost of living. Lower chance of being mowed down by an 18-year old in a Lamborghini. What's not to like?

And that's why pretty much any Canadian who makes something of themself moves south. Just ask anyone in this video (except Sarah Maclaughan):
http://www.youtube.com/watch?v=NqiQn9MC5L8

coastal
coastal
8 years ago

Looks like Ozzie is up the creek without a paddle. How the hell CKNW still has this slime on their money show every week until this is settled is disgusting.

http://www.theprovince.com/news/Court+approves+cl

Anonymous
Anonymous
8 years ago

@Donald Trump: …Not like the rest of you whiners. Time to let the guards put you back in your cages/basement suites….

Hey Donald, that's not us here in the basement suite complaining, – maybe folks in the other two basement suites but I think it must be one of the 8 folks living in the attic, or maybe one of the 5 students you share the main floor with. I don't think the 3 families living in the garage have internet (or hydro for that matter) so I don't think it's them.

What are you doing off today? I thought that third job really messed with your weekends?

Donald Trump
Donald Trump
8 years ago

Black Friday….Yellow Saturday…..Brown Sunday….did I leave anyone out?

Donald Trump
Donald Trump
8 years ago

I like this Extremely rich Van house owner.

Knows his stuff.

Not like the rest of you whiners. Time to let the guards put you back in your cages/basement suites.

Extremely rich Van h
8 years ago

@Best place on meth: @patriotz:

Chinese are very wealthy that no human history can find reference.

Our Chinese members in Ottawa will pressure the Prime Minister because Canada needs their money.

Best place on meth
Best place on meth
8 years ago

@jack:

>>>white folks no different then chinese in walking over the dead bodies in the name of greed<<<

There was no mention of white people being involved.

Regardless, it's the US which is almost the same pile of shit as China these days.

In a perfect world those two would destroy each other and the rest of us live happily ever after.

PennyStock
PennyStock
8 years ago

@jack: "new low for our materialistic society.white folks no different then chinese in walking over the dead bodies in the name of greed..shame"

Crazy shit always happens on Black Friday. Every year I wait with baited breath to see what the outrageous events of the day will be. This year had some new ones, like the pepper spray incident. But ignoring a dying person: I think I've seen that one before.

In any case, the participants of Black Friday are usually from the trashier end of society, and furthermore they're running on adrenalin and mob mentality. People get trampled and die during mobs all the time. Eg:
http://www.cnn.com/2010/WORLD/europe/07/26/german

When people die in mobs, I don't blame the individual members of the crowd. I blame the organizers.

patriotz
8 years ago

@jack:

"new low for our materialistic society"

Yes it's a shame how far the US has sunk, but don't feel bad, we don't hold it against you personally.

jesse
8 years ago

@patriotz: I expect there to be continual upwards pressure on detached bungalows, but only vis-a-vis pre-bubble valuations. I am skeptical a 50% real drop is in the cards for certain dwellings; they are slated for redevelopment.

Anonymous
Anonymous
8 years ago

the new ottawa citizen is still interesting in vancouver eh? i bet a dollar that next year, he will be packing up and move to winsor cuz ottawa is no longer affordable.

RippedtoShit
RippedtoShit
8 years ago

Westside MOI is rocketing higher.

Where are the chinamen (and women)?

fixie guy
fixie guy
8 years ago

65 Not So Sure: The fryer timer is ringing. All the best saving up for that post-secondary. Or primary, whatever the case may be. When you get there consider extra history courses.

Not So Sure
Not So Sure
8 years ago

@Meth

"You fail to see the difference between a country that has corruption and a country that's built on corruption."

China was built on virtuous, although unrealistic principals. North America was built on the fur trade and ripping of the aboriginals. Which country has was built on corruption?

PS. I'm not chinese, and not an apologist for one either. I just prefer to have diversification from our big brother down south. Kinda like how Australia and Southeast Asia wants the US to help out with China. One of these days when the US runs out of water, oil, and money, or personal freedoms…

jack
jack
8 years ago

http://www.wsaz.com/news/headlines/Man_Dies_on_Bl

"A man collapsed while doing some Black Friday shopping in a crowded store, and people nearby continued to shop.

Witnesses tell WSAZ.com some shoppers walked around and even over the man's body."

"Where is the good Samaritan side of people?” Vance’s co-worker and friend Sue Compton said. “How could you not notice someone was in trouble? I just don't understand if people didn't help what their reason was, other than greed because of a sale."

new low for our materialistic society.white folks no different then chinese in walking over the dead bodies in the name of greed..shame

Best place on meth
Best place on meth
8 years ago

Inventory has only dropped by 150 all week?

That's hilarious!

patriotz
8 years ago

@jesse:

"but affording a little detached bungalow in a “nice part of town” is going to become more and more difficult."

"Going to become more and more difficult?" No, I don't think we will see higher real prices for any dwelling type for decades. We're at the top of one of the world's biggest bubbles, you know. No current price for anything makes sense under any credible future scenario.

If what you really meant is don't expect a centrally located SFH to become affordable to the median household again, I agree.