Friday Free-for-all!

Yeah, it’s the weekend!  That means it’s time for our regular end of the week news round-up and open topic discussion thread, here are a few recent links to kick off the chat:

18k Inventory party!
Updated inventory graph
Taxpayers victims of ‘hot money’
Welcome to Effluent Richmond
1 month later Telus still not sold out
special offer, $510,000 off
CMHC dismisses bubble talk
The CMHC board of directors
Silver linings of slow growth economy
Condo craze gets crazier
Wolverine moves down under
Huge drop in Chinese immigrants
Building permits rise, just not here
Pastrick thinks prices might fall
Buying with 5% down?
Time to cash out?
Condo owner, why so glum?

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

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Anonymous
Guest
Anonymous

@Tony: ….Fuck she was stunned….

It’s a job requirement.

jesse
Member

It was a glorious day. Who wants to look at overpriced houses when prices are in no danger of going up any time soon? Better to grab some beef and fire up the barbecue.

Seared beef is an apt symbol.

vangrl
Member
vangrl

“Open house in my apartment yesterday. Realtor bored in the lobby too. Said it was because it was the first sunny weekend day”

yup, same thing in my building, two open houses and dead as a doornail, got the “first sunny weekend” and the “well, it’s Mother’s Day” excuses as well.

Chuck
Guest
Chuck

Noticed a number of sold signs in VW today. Would not be surprised to see some higher sales days this month. Seemed like a lot of the houses were on busy streets like 10th.

xyz
Guest
xyz

@Tony:

Put in an offer… equal to the RENT yer paying… heh

xyz
Guest
xyz

Signing a rental agreement tomorrow for a 3 bedroom, bout 1500 square foot top floor of a house tomorrow.

Built in the 70’s when you could fit a queen or double bed in every room with space left over 🙂

It’s got more wood paneling than you can throw a dead cat at but HUGE deck out the back with a view, and full use of the front yard. Cats, dogs, smoking outside is OK 🙂

And rent is about 20% of what the mortgage would cost 🙂

Gonna hunker down in that puppy for 5 years and then unleash the savings on a house somewhere…

Wahoo!

RIP to our current landlords… I see them getting murdered in the days, weeks years to come with their 1.3 Million dollar home.

Tony
Guest
Tony

Open house in my apartment yesterday. Realtor bored in the lobby too. Said it was because it was the first sunny weekend day (I thought rain kept buyers home, im confused). Gave a spiel that it’s a buyers market now, so now is the time to buy! Interest rates never lower! Prices coming down so great time! Fuck she was stunned.

victoria
Member
victoria

135 N

I lived in Paris for 13 years. It was wonderful, amazing and France is just a great country, food culture. Moved here to be closer to my parents. Anyway, my husband owns a company now in Victoria, he is French/British btw. We do miss France but he said there is no way he could have done what he did and hire the people he did if he were still in France.

The country talks about change but it just never seems to happen. I am watching it all very closely now. I had high hopes for Sarkosy.

Makaya
Member
Makaya

Interesting how they managed to get their mortgage approved: “we had my mom to be a co-signer”…

http://youtu.be/V_w-BSGtCeM

The coming crash will have consequences that are really hard to understand, even for the bears…

pipewrench
Member
pipewrench

@Devore:

apologies for the noise and you are right that we should keep it on topic.

yvr2zrh
Member

Went to see my parents in Richmond today in their $1.6M (assessed value) rental house ($3,000 per month BTW). House down the street was an open house. I can see it’s now listed for $150,000 under assessed value after dropping it last week by $100,000. You would think that there were people lining up outside with inspectors ready to submit offers at the end of the day.

We went over – – nearly had to wake up the sleeping realtor. 3:30 – first person in . . . . This will not end well.

Not Dumb Barbarian
Guest
Not Dumb Barbarian

http://www.bclocalnews.com/news/151025325.html

This behavior is of the savage. Come from barbaric society. Inferior genetics and enviroment make.product.

Devore
Member
Devore

@pipewrench:

They have cut taxes in half for the top percentile and all it has done is create credit bubbles and a middle class who’s buying power is shrinking.

If you people are gonna pollute the blog with this BS, you’re gonna have to draw me a picture that takes me from A to B in logically coherent baby steps.

10DownerStreet
Guest
10DownerStreet

Counted 8 open house signs in front of my yaletown condo building today. Lobby filled with bored realtors, some having spilled out onto the sidewalk. Nary a prospect.

N
Guest
N
frank
Guest
frank

@pipewrench:

You are completely right.

The wealthy have control of the major media and they have always sold the line that if taxes increase, the rich will move their wealth to say Aruba or Switzerland. Well Switzerland is being forced to close the door to hot money and do you think Aruba or the Bahamas can back their banks like the US and Europe did?

US deposits and Money markets were insured by up to 100K and then when it hit the fan, the lobbyists pushed hard and the limit was pushed up to 500K and the banks were given free money to ‘prevent a crisis’.

On the other end of the spectrum the middle class still are foreclosing at a huge rate.

We have to owns the ‘news’ and opinions that we read.

loser with the girls
Guest
loser with the girls

Romeo Jordan Says: “They know how to dress, are sexy as heck and will come up to a man and tell them they are ready to go home with you, it’s awesome.”

So you don’t need to approach them and talk bullshit like with the girls here? they approach you?

Romeo Jordan
Guest
Romeo Jordan

If you want to nail some hot French chicks you don’t need to fly all the way to Paris or Nice to do so.

Just go to Montreal and/or Quebec City. They know how to dress, are sexy as heck and will come up to a man and tell them they are ready to go home with you, it’s awesome.

Try it. You might like it.

N
Guest
N
I’ve got to say, one of the reasons I left France is that it is just so hard to run a legitimate business there. It’s OK for big corporations with deep enough pockets to make the kind of commitments that the law requires, but it’s very hard for small businesses. Many small business just cheat, but if you don’t want to do that, you had better be very successful very fast because, for a one-man business, by year three you are looking at about eighty thousand dollars in mandatory minimum contributions. And that’s with only yourself as an employee. So if you come from a wealthy family, or you have funding from an existing corporation or the government, you are OK, but otherwise you had better be satisfied with being an employee. (Things may have changed since the late 90s,… Read more »
Anonymous
Guest
Anonymous

From the article:
“if Canada lacks nurses and China has [extra] nurses, then China should facilitate nurses going to Canada.”
Don’t medical professional need retraining upon arrival in Canada? At least, a nurse should learn to speak a perfect English !!!

“Canada is increasingly considered by many Chinese more as a great place to retire.”
That definitely proves immigration is the solution to the challenges of an aging population! 😉
Those immigrants will contribute to the health care system by using it.

registered
Member
registered

@130 Anonymous: Ms. Gao left Canada to pursue a career as a finance consultant in China helping locals leverage the Canadian housing bubble? Whatever we’re doing is working, that’s the last type of business person we need here.

“Canada is increasingly considered by many Chinese more as a great place to retire. “

Make that second last.

Makaya
Member
Makaya
@Anonymous: “I am all for fair taxation, but 75% is a little extreme. The rich have the means to move their capital and will pay their taxes somewhere else. In the end France will not have anyone paying taxes on income above 1 million Euros because they will be gone.” The 75% tax rate is for revenue made above $1 million. So if you make $2 million, your overall tax rate will be 59%. High, I agree, but not “unmanageable”. Besides, less than 20,000 people make that much money in France. Remove all the artists, football players, etc., and the pool is even smaller. Hardly a big deal in a country of 65 million people. I agree with pipewrench, there’s lots of BS in the media regarding Hollande. He’s a lot more pragmatic than these journalists imply. He graduated from… Read more »
pipewrench
Member
pipewrench
@Anonymous: http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=213 http://en.wikipedia.org/wiki/Michael_Bloomberg In the US the tax rate sat at 70% till the 1980’s. Add to the fact that your quoted source is from Micheal Bloomberg’s. His $22billion dollar nest egg cannot be touched so fear must be maintained. They have cut taxes in half for the top percentile and all it has done is create credit bubbles and a middle class who’s buying power is shrinking. Without an increase in taxation of the actual people who’s standard of living has gone up you will never stabilize the balance sheet. I would be happy to hear if you have a better solution, just do me a favor and look at the source of information first. Quoting a billionaire…. lol 🙂 and if your going to quote Reuters in a rebuttal read this first and realize that the Thomson family… Read more »
Anonymous
Guest
Anonymous
Makaya
Member
Makaya
@Anonymous: “God, what mindless tosh. Probably asking too much here, but imagine for a second that you’re a small business owner and ready to hire your first employee. Along comes the govt and hands you a 2300 page labour code outlining the process to fire someone. Do you hire?” That’s what my brother did. He actually hired 120 of them within the last 4 years since he started his company… “Gosh, I didn’t realize France was such an economic paradise. To think those nasty credit agencies went and stripped them of their triple A rating.” As far as I know, France is not the only country that lost its AAA and it seems that UK is next on the list. France is by no means an economic paradise, it has its own challenge and needs for reforms, but it’s not… Read more »