Friday Free-for-all!

It’s that time of the week again, let’s do our regular end of the week news roundup and open topic discussion thread!  Here are a few recent links to kick off the chat:

Van prices fall for 5th month
Bubble popping changes?
CMHC now handled by OSFI
RBC: Van Vulnerable to correction
Vancouver Price Drop Champs
Vancouver Inventory Chart
Lending change will cause…?
BC Population growth stats
Mark Carney still fretting
Van top 4th hated city?
More than 1 mil US underwater
Former bears call US bottom
Chinas impending crash

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

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blueskies
Guest
blueskies

“Say a prayer for Vancouver. No, make that a dirge for the formerly horny who believed Global TV, dissed this unfortunate blog, and leapt headlong and naked into a real estate market 100% destined to shatter.”

Garth is in exceptionally fine form tonight
even uses “pecker” in his missive.

Limey_
Guest
Limey_

CHINA, GO HOME. IT’S OVER.

I’m thinking either T-shirts or bill posters.

Patiently Waiting
Member
Patiently Waiting

Re: the decline of South Granville

I think its four things:

1) People are maxed out (as a few mentioned)
2) Speculative landlords raising rents (as Jesse mentioned)
3) Old customers have moved on to other places cheaper (maybe cashed out their real estate), are in nursing homes, or died.
4) Online and cross-border shopping.

Last year I wrote about walking up and down the length of South Granville and feeling the lack of energy. The old outdoor shopping districts may never be the same again. Its hard to get the spirit back once its gone.

Micky
Guest
Micky

In US It takes $2.52 in new debt to increase $1 of GDP. Wow. Talk about ponzi scheme.

Anonymous
Guest
Anonymous

@Patiently Waiting:

1) True – disposable income is going to IKEA and Home Depot, not high fashion and haute cuisine.

2) Same as Robson, where the street might as well exist in a mall.

3) I’d do the same if I were an old time owner of a west side home. Costa Rica here I come.

4) I am totally guilty of this. I go to retail shops just to browse, and then go home, go online and make my purchase. Or wait till next time I am in WA.

OPP
Guest
OPP

@Patiently Waiting:

“Last year I wrote about walking up and down the length of South Granville and feeling the lack of energy. The old outdoor shopping districts may never be the same again. Its hard to get the spirit back once its gone.”

In that case, it’s a good time to remove the street parking, reduce the pedestrian activated lights and create the “Granville Highway”.

OPP
Guest
OPP

it’s a mystery to my why robson is in decline when more people live downtown than ever.

i don’t think the economy is a factor, because retailers can just cut their prices/lower quality. for large chains, regular priced goods are the same price on both sides of the border.

i suspect that mayor moonbeams anti-car policies and high gas prices are to blame. suburbanites just don’t want to come downtown as much, anymore. and it’s suburban teenagers who drive roboson street.

parking tax, poor road and bridge infrastructure, awful traffic, bike lanes slowing down the road to their favorite parking lot, and high gas prices. teens deside to just go to the local mall (which may have better stores than robosn st, anyways)

jojomalone
Guest
jojomalone

@OPP: it’s a mystery to my why robson is in decline when more people live downtown than ever.

Generally, people who live downtown don’t shop on Robson. Robson is for visitors/tourists who can afford the inflated prices. Nope, those of us downtown spend our $$ on our housing and shop at Winners.

taylor192
Member

I have to agree with the “parking” comments. All my friends that lived downtown/Yaletown have moved south of False Creek as no-one visited them. What little parking these is, is hard to find or expensive. Add to that the extra congestion due to the silly bike lanes and I’ve chosen to avoid downtown altogether.

Anonymous
Guest
Anonymous

“Yeah, because everyone Shopping for ‘high end product’ wants to ride the bus. Who knew Translink was so chic?”

ya I’m not buying this new marketing tool “buy by transit” that Rennie and others are pushing.The last place I’d want to buy is by a skytrain station or a bus stop. The only people wanting to purchase close to transit are the ones commuting to work, definitely not “high end” buyers.

Bony
Guest
Bony

the fall of high end stores on South Granville just show how fake/non-existant Vancouver elite is.

Patiently Waiting
Member
Patiently Waiting

@OPP: “retailers can just cut their prices/lower quality” They keep doing this until they can’t pay the rent and go out of business. Hence the vacancies.

BTW does anyone else avoid eating out downtown? I always found inferior food and higher prices than out in the burbs. Other than a handful of high-end destinations (if you can afford them), there isn’t any point to going downtown to dine and socialize.

patriotz
Member

@OPP:
“i suspect that mayor moonbeams anti-car policies and high gas prices are to blame. suburbanites just don’t want to come downtown as much, anymore.”

Suburbanites haven’t been coming downtown to shop since the big malls were built in the suburbs decades ago. You think it’s just happened in the last 4 years?

How long has it been since there were 3 major department stores downtown? (Eatons, Bay, Woodwards)

silverfish city
Guest
silverfish city

@OPP: A few bike lanes have nothing to do with why Vancouver’s retailers are hurting. People in the ‘burbs head south because our dollar is worth US$1.01.

OPP
Guest
OPP

@silverfish city: cross border shopping is nothing new. When was bellisfair opened? 17 years ago?? I cant remember.

Im not sure why lately people are so excited about cross.border shopping. There seem to be fewer and fewer deals down south. As an excusse to get out of town or get new tires, sure. But for electronics or clpthes? Ill pass.

Cat
Guest
Cat

http://www.cbc.ca/news/politics/story/2012/04/27/pol-csis-inspector-general-eliminated-budget.html
“The watchdog responsible for monitoring the activities of Canada’s spy agency and reporting findings to the minister in charge will be eliminated as part of the federal government’s budget.”

Does Cons get ideas from Chinese, US or what?

Chabar
Guest
Chabar

@Bony:

the fall of high end stores on South Granville just show how fake/non-existant Vancouver elite is.

I disagree, we have the strong elite in Vancouver. What do you think ‘Real Housewives of Vancouver’ are, if not elite.

registered
Member
registered

Re: 2 Limey_ Says: “CHINA, GO HOME”

Is voting this racist shit up a smart thing to do? The best way to get slotted with the toons is channeling Storm Front.

Bubbleli
Guest
Bubbleli

Re: 2 Limey_ Says: “CHINA, GO HOME”

I can’t believe you guys are voting this racist statement up!

Madashell
Guest
Madashell

@fixie guy: Racist or not, the comment and voting up reflects the frustration of the average people to the craziness of the Housing Bubble and how one group (or perception) can have so much impact to the lifes of many.

jesse
Member

“Is voting this racist shit up a smart thing to do?”

No. Kind of makes me wonder if other vote-ups are misplaced as well. Maybe this bullish thing has something to it… 🙂

Cat
Guest
Cat

Madashell Says: “Racist or not, the comment and voting up reflects the frustration of the average people to the craziness of the Housing Bubble and how one group (or perception) can have so much impact to the lifes of many.”

I wish I hade someone in Regina to scapegoat and take my frustration for housing bubble over here. You guys are lucky in Van. “sarcasam off”

BoogyBear
Guest
BoogyBear

I see a potential conflict of interest when OSFI regulates the banking institution, but also provides the CMHC instrument “EMILI” to fast track mortgages. I think OSFI will have to make considerable changes to CMHC including a change in mandate. Maybe CMHC will have to go back to its roots when it was assisting Canadians to purchase their first home, not as a money making instrument to stuff the Federal coffers.

jesse
Member

@Madashell: “reflects the frustration of the average people to the craziness of the Housing Bubble and how one group (or perception) can have so much impact to the lifes of many”

Yet it’s so obviously a debt problem borne by locals and not a group of foreign/immigrant investors buying in a few select areas. Any drive around 75% of the Lower Mainland indicates how “average” things are.

People can become frustrated over what they perceive to be a threat, it doesn’t mean I should give them the time of day without a mea culpa as an olive branch.

Patiently Waiting
Member
Patiently Waiting

@Bubbleli: I don’t vote it up. I don’t usually vote posts down, but did so this time now its a concern. Bears let the Asian thing go. All ethnic groups caused this mess.

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