Friday Free-for-all!

It’s a fine Friday for another fabulous free-for-all post, so let do 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:

Central one hopes for slip, not plunge
Jurock: sales and avg price way down
Harper wants to destroy RE market?
Economists forecast 5-10% price drop
Hoping for years of stagnation?
Scotiabank: correction in TO & VAN
Realtors: Calgary will avoid downturn
Richmond Realtor warns of decline
Carney: Rates can go up
Canadas trade gap widens

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

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good-format
good-format
7 years ago

Copied from PaulB’s number
http://www.laurenandpaul.ca

 Date     Listing  Sales   S/L   Price(+-)  Inv    Inv(+-)
Aug-01      258     61    23.6     99     18,708
Aug-02      182     49    26.9    114     18,740    32
Aug-03      202     93    46.0     92     18,799    59

Aug-06        0      0       0      0	     -
Aug-07      232    113    48.7    128     18,784   -15
Aug-08      210     49    23.3    105     18,851    67
Aug-09      195    120    61.5    119     18,816   -35
Aug-10      169     96    56.8    118     18,806   -10

Aug-13      206    103    50.0    124     18,788   -18

Total-Cur 1,654    684    41.4    899               80
7-day avg   145     69    47.5     85               -2
Total-EST 4,256  1,921    45.1  2,426     18,760    52
patriotz
7 years ago

@Eddie:
Great, I could almost smell the sawdust.

But it missed the Ultra-Hair billboard. 🙂

Bo Xilai
Bo Xilai
7 years ago

@Patiently Waiting:

Revenue Canada should have reassessed all his other taxation years where he “flipped” properties, based on the evidence presented. He’s a greasy c*cksucker and should be prosecuted for tax evasion as well.

Dan in Calgary
Dan in Calgary
7 years ago

Thanks to all for comments regarding the Straight! 🙂

Chabar
Chabar
7 years ago

@AfroFrancophone:

Right, I’m full of compassion now.

betamax
betamax
7 years ago

Queen’s Park is an oasis in New West, so congrats for living near there. Too much of the rest of it is crack-head central.

AfroFrancophone
AfroFrancophone
7 years ago

@Chabar: What’s up with the chinese bashing? What did they do to deserve your insult (which IS offensive, and could be interpreted as racist, as you single out a whole bunch of people from a specific country)? Dude, they just took advantage of a LEGAL procedure. If you want to get mad, get mad at the government for allowing these procedures to exist in the first place. Let’s keep a civic discourse here guys. You just got voted down.

Chabar
Chabar
7 years ago

It was about the time that those fucktards finally got what they deserve.

http://www.huffingtonpost.ca/2012/08/12/pei-immigration-program-chinese_n_1769364.html

Anonymous
Anonymous
7 years ago

A look inside the mind of a real estate bull:
http://www.youtube.com/watch?v=PrEdsuXcJZE&feature=plcp

HipsterBear
HipsterBear
7 years ago

@Canadian_in_Cabo: “what’s with the New West bashing?”

They’re jealous they only found out about it now. New West used to be cool before it was cool. The next big thing: Burquitlam. You heard it here first. Think of it as combining a spoon and a fork into one utensil.

Canadian_in_Cabo
Canadian_in_Cabo
7 years ago

Hey now, what’s with the New West bashing? I will freely admit to some of its less desirable aspects, but having bought in the Queen’s Park neighbourhood in 2002, I love the place. Btw, I’m lying in the sun in Queen’s Park as I write this on my brand new Apple 4S… Free wifi in the park now… Time to pull another bevie from the cooler. Mortgage free, no kids… Life is good (don’t mean to disparage parenthood, just not our thing). Not sure what the point of my post is, other than to defend my “hood” I suppose. 😉

Eddie
Eddie
7 years ago

Patriotz and Dan, here’s a good clip from that era. Zeppelin was probably playing the coliseum that night too! http://youtu.be/4M5RntGlq5s

patriotz
7 years ago

@Patiently Waiting:
” With a population of 59,000, this works out to $1000 per person (much more per taxpayer).”

And what do you think the per capita mortgage debt in New West (or elsewhere in the metro) would be?

Assuming the office building returns no revenue, the cost to retire that debt would be around $40 per capita annually. The city is going to get the money either by raising taxes that much or cutting spending that much or some combination of the two.

I don’t know whether this building is a good idea, just trying to put the costs in proportion.

Stockton and other US municipalities which are in trouble got there because of pension obligations, which BC municipalities do not have.

Patiently Waiting
Patiently Waiting
7 years ago

Further details on the Romano Giusti case:

http://www.taxwiki.ca/Romano+A+Giusti+v+Her+Majesty+The+Queen,+2011+TCC+62+%28TCC%29

Worth the read just for shits and giggles.

Patiently Waiting
Patiently Waiting
7 years ago

The trials and tribulations of a Vancouver speculator who got snagged by the CRA.

http://www.moneyville.ca/article/1234054–selling-a-condo-beware-the-taxman

Not only is Romano Giusti a real estate agent, but he’s a personal injury lawyer as while.

Patiently Waiting
Patiently Waiting
7 years ago

Little New Westminster is trying to win the race to become Stockton North.

http://www.newwestnewsleader.com/news/165506306.html

Petitioners failed to stop City Hall from borrowing $59 million to build a new office building on decrepit Columbia Street. With a population of 59,000, this works out to $1000 per person (much more per taxpayer). This is the equivalent of COV borrowing $600 million.

I heard about this from an alarmed relative who is considering selling her house and getting the heck out of there. If you think New West is ghetto now, just wait and see in a few years.

local observer
local observer
7 years ago

Dan McLeod, owner and publisher of the Georgia Straight, has always been an opportunist – not a hippie as so many thought. He saw an opportunity way back when, got writers for free, had the paper distributed for free and charged for ads. He made a pile of money in the 70’s by buying old beat-up houses with the money generated by the Straight, filling them with communal like-minded types and then, when the housing market took off in Kitsilano and Fairview, evicting the tenants. His typically messy evictions (many a full-blown protest ensured) was one of the many catalysts for the original Landlord-Tenant Act.

Anonymous
Anonymous
7 years ago

I just heard an ad on US radio advertising using an auction to sell your home if have have no mortgage. Their slogan was something like ‘freedom from your home’. It is funny how things change so fast from home ownership being panacea to a ball and chain.

Fred
Fred
7 years ago

@patriotz: still unemployment and wifeless + landless?

patriotz
7 years ago

@Dan in Calgary:
Acid Man, Harold Hedd, topless girls taunting Tom Campbell.

The worm turned in the 70’s with the Straight/Grape split, then we got an “entertainment weekly”, and now we have another edition of the Real Estate Weekly.

Groundhog
Groundhog
7 years ago

@Groundhog 2..

Buying isn’t the end all be all, so I will keep renting and living a good life

Dan in Calgary
Dan in Calgary
7 years ago

Regarding the Straight article. Wow! Haven’t bothered to look a the Straight for a long time. I remember it in the 1960s. WTF has it become? Anyone else remember what it WAS in the mid-1960s?

Groundhog 2
Groundhog 2
7 years ago

Groundhog. Live in modern times where real estate is priced out of reach to you. Keep renting.. It’s cheaper 🙂

Devore
Devore
7 years ago

You guys know if you just hit the little red arrow and stop responding to trolls they’ll go away, right?

Groundhog
Groundhog
7 years ago

@bullshit.

Yes I’m sure. How about you do some research yourself rather then make idiotic remarks on here. Moron.

And it likely is 222 years and longer, unfortunately consistent data only goes back to 1890.