Friday Free-for-all!

It’s that time of the week again! Lets do our regular friday news round up and open topic discussion thread for the weekend. Here are a few links to kick off the chat:

Prediction: The Canadian Housing Market will Crash
Household borrowing surge driven by most indebted
Boomers ‘punch drunk’ on debt
Canadian home prices fall for first time since fall, 2010
-Either Windsor or Edmonton has the most affordable market
Canadas job market in bad shape
Property taxes on the rise
$100 hot dog, get it while it’s hot.
US banks face margin pressure from fed rates
US new home sales worst ever in fall 2011
A real estate downturn down under?

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

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squeako
squeako
8 years ago

From the trenches (no economics degree, but common sense) About the paper media: I stopped buying The sun/province more than a decade ago, I get better deals on TP. Sit by a pool after sunset? Oh my gawd..what rubbish. And you have to sit in a tight miniskirt, nylons, high hells on a hard wooden bench trying to read a toilet paper in the dark after a hard days work with an aching back/neck, growling stomach, full bladder (due to vancouver piss poor job market that does not allow for proper meal breaks or potty time). It is more like: You get home, thank your gods you were not killed in a commuter accident. Take hot sweaty clothes off, shower to relief back aches/stress/bladder, then grab the micro heated food (cooked on your days off), stuff face from hunger. Then… Read more »

Anonymous
Anonymous
8 years ago

I have tired eyes, I read the link:

"Household borrowing surge driven by most indebted"

But my mind saw:

"Household borrowing surge driven by most inbred"

And I thought, "Dave?"

jesse
8 years ago

@jumpin in: Carney said Basel 3 being implemented sooner in Canada than rest of world. Also stated that some reforms on "shadow" lending were pushed through last year.

The man's on a decade-long mission to reform the financial system.

JR
JR
8 years ago

@Disbelief: Mike Holmes knows as much about the housing market as I know about electrical panels (which is nothing, and which is an example of what he should stick to).

Anonymous
Anonymous
8 years ago

The RBC Cash Back Mortgage could be ideal if you are a first-time home buyer with a minimum down payment of 5%.

How Much Cash Can You Get?

The amount of money you receive is based on the size and term of your mortgage-up to 7% of its value up to a maximum of $20,000.

http://www.rbcroyalbank.com/mortgages/cash-back-m

Interesting. 5% down….up to 7% cash back? Didn't know these were out there.

jumpin in
jumpin in
8 years ago

http://www.bloomberg.com/video/85104485/

Carney Says Volcker Rule Could Disrupt Bond Trading

Disbelief
Disbelief
8 years ago

Mike Holmes quote is classic."In Canada the banks are more astute in that they don't lend more than the value of a home. That's what lead to the trouble in the U.S". That is exactly what the Canadian banks are doing lending way more than what the value of any home is worth. This fact will be proven. This can be proven using the lowest level of homeownership. The trailer like the ones in mobile home parks scattered in the seedier neighbourhoods throughout the lower mainland. They CMV(current market value) is approximately $100k and for this you get to live in a parking lot paying $600/month and then one day you need to move the delapidated appendage. The true market value of the mobile home if you look at a different location a little further south is $30,000. Look at… Read more »

Anonymous
Anonymous
8 years ago

@Burbs Boy:

If you want to learn more about WW1 go to Ken Follet website the author of "Fall of Giants"

There is a delightful version of WW1 in it

The one good thing that came out of WW1was a big change in the class system in Britain and probably the rest of western world for example the working class and women got the right to vote

The smarter working class guys saw the incompetence of the upper class in the war and demanded a right to have a voice so as not to be used as cannon fodder for idiots

Ww1 was stupid to begin with and how the generals and most of the officers were beyond inept perhaps there descendants are buying Vancouver real estate now

chilled
chilled
8 years ago

@DEFAULT NAME:

"Yes, and it’s amazing how you can totally ignore them and there’s absolutely nothing they can do about it."

Doesn't apply to me. I would have never done business with someone of this mindset to begin with.

I doubt you would understand.

Ronald McDonald
Ronald McDonald
8 years ago

RE Lido by Bosa… Free 2 yrs strata fees incls free coffee every morning lol, maybe they will offer a free happy meal a day next door at rottin ronnys too!

Best place on meth
Best place on meth
8 years ago

Richmond SFH already close to 1000.

http://vancouvermarketreports.com/intranetimages/

Burbs Boy
Burbs Boy
8 years ago

ok… getting drawn into non-RE stuff here so I will give it up after this. Certainly agree that WW1 was the least worthwhile however if you were in France or Belgium and the Germans came rolling in perhaps you might be thinking to yourself "I sure hope someone steps up to the plate here". Make no mistake that Germany could easily have taken France over the long term if not for British (and hence the joined at the hip Canadian) intervention. Certainly agree that it was without a doubt one of the largest wastes (on both sides really) in human history.

Best place on meth
Best place on meth
8 years ago

Don't forget to register for the "Is the Chinese Money Coming?" webinar this Tuesday.

http://coughlinteam.com/index.php?fuseaction=cPag

This will be an excellent way to find out if the Chinese money is coming, when the Chinese money is coming and how much Chinese money is coming.

And if you "have inside information on the Chinese Money" please call 778-374-3744.

frank
frank
8 years ago

@Burbs Boy:

Actually read your history first. While I agree about the others, WW1 was a complete waste of lives.

It was an Imperial War between the Kaiser of Germany and the King of England. Ironically related (as they were to the Czar of Russia and most of the other Kings and Queens of Europe) Second and third cousins fighting each other.

It was a needless war that killed 9 Million mainly working class folk for no cause at all. i once heard Rex Murphy say that Canada came to age as a country due to their losses on the battlefields of WW1.

BS I would say. Farm boys dying by the thousands for the class system of mother England. Now the wars you mentioned have/had some apparent merit.

Anonymous
Anonymous
8 years ago

#131,

bpom never leaves the basement cuz he needs breastfed every other hour.

Burbs Boy
Burbs Boy
8 years ago

Yes PQW, that is part of the Canadian values. Forget about it at government levels…focus on the individual… I would bet that, when asked, the majority of Canadians would say that when others are oppressed that there is an ethical duty to do what can be done to try to remedy the situation. What to do is the challenging part. Sometimes there does not seem to be any other option other than violence. As a Canadian I am quite happy with the blood that is on our hands from WW1, WW2, Korea, Afganistan, and Libya. At least we tried to make things better rather than some who sit on the sidelines spouting off fancy phrases and rhetorical garbage.

Anonymous
Anonymous
8 years ago

@Best place on meth:

Question: how many nights per year does BPOM actually leave his basement suite?

A) 2

B) 3

C) 4

D) 5

The answer is none of the above. He never leaves!

pqw
pqw
8 years ago

jumpin in Says: "This verdict sends a clear message about Canadian values."

Are part of Cnd values fascistic bombing of civilians by canadian pilots from the distance in Afghanistan and Middle east???? you are the taxpayer jumpin and you have BLOOD on your hands

jumpin in
jumpin in
8 years ago

"Another fine example of investor immigration:

http://www.cbc.ca/news/canada/…..unday.html&quo…

This verdict sends a clear message about Canadian values.

Hopefully this will send a message to people who abuse their children and think it is accepted in Canada.

SunBlaster
SunBlaster
8 years ago

@ LIDO, this offer doesn't include any flotation devices, sorry not interested!

Anonymous
Anonymous
8 years ago

@VMD:

I wonder how much each latte that the concierge makes actually ends up costing the owners?

YLTN @ Work
YLTN @ Work
8 years ago

@patriotz: agree completely, I threw equities I the mix but my logic for them tanking is a resource crash from declining Asia demand as you point out. I’d keep away from any company that deals with rocks however oil still has a bright future IMO

jesse
8 years ago

@ReadyToPop: From the article:

But the condo market is hot because of investors not speculators. These investors are coming [from around the globe]. This silly [condo fee] change will do nothing. These people are buying with cash.

My favourite weasel word duo: investor and speculator.

patriotz
8 years ago

Another fine example of investor immigration:

http://www.cbc.ca/news/canada/montreal/story/2012

ReadyToPop
ReadyToPop
8 years ago

No doubt about that. I wonder who the sources for the story were? 🙂

Def been no official announcements.