Friday Free-for-all!

Yeah! It’s the end of another work week and that means it’s time for our regular news round-up and open topic discussion thread.  Let’s wrap up September with some weekend chat, here are a few recent links to kick things off:

Inventory graph keeps climbing
An economy based on house prices
$150k deductible for water damage
Ian gets bearish
I said Watt?
No Smoking
If no one can buy, then what?
Home of the weak
Teranet decline by month
Immigrants move to Saskatchewan
Vancouver 2012 layoffs
Council wonders why you’re isolated & resentful

Based on current sales numbers this month we need to see a big sales day today to make September 2012 sales numbers come out ahead of September 2008.  Makaya estimates that we need to see 101 or more sales today or we’ll be coming in lower than 2008.  Keep an eye on the comments for daily numbers from Paulb to see what happens.  It will be interesting to see how the newspapers and REBGV press release cover these sales numbers.

On a side note our new comment rating system has been tweaked a bit.  This site gets way too much traffic for the default settings to work, so we’ve upped comment highlighting to start at +10 and we’ve dropped comment hiding to -8 giving it a foreclosure stage before it disappears.  If you see a negatively rated comment that you disagree with but is honestly presented (ie not a troll) please consider not voting it down further.  It would be nice to reserve comment hiding for the real trolls.

Feedback is welcome to these tweaks, we’ll adjust further if necessary.

And on to the chat! 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

@N: “Last time I checked, this was a free country. But if you are convinced that people should learn the native language, maybe we should be having this conversation in Salishan.”

Well, maybe, but what was the language before they got here?

Piklishi

@TPFKAA:
Good or bad times the realtors always say that, it’s like their slogan ” now it’s the best time to buy”

TPFKAA

@G:

“so it’s a good time to buy before the price rise again in spring”

ROFLMAO!

Anonymous

207
Did your ass come up with that all on its own?

G

So do we have the final Sept stats yet?

Went to see a few open houses this weekend. Several realtors said the market is slow now, so it’s a good time to buy before the price rise again in spring.

Anonymous

@an observer: “It isn’t the sole reason of course but the problem is that the key people who would lead these corporations can not be recruited to come to Vancouver (or if they are here to begin with then keeping them here) because they are horrified by our real estate conditions.” I don’t recall corporations setting up prior to the bubble. I also don’t recall corporations leaving silicon valley or other areas with expensive housing due to housing costs. Does high housing costs = no corporations only apply to Vancouver? And finally the population has been growing steady in Metro Vancouver through the housing bubble so obviously the real estate prices have had little impact on stopping people from coming here. If anything the bubble has attracted people to buy here because they think it is a good investment based… Read more »

Anonymous

@Borja: “@N
your reply to patriotz deserves +1000
you are a good man”

pss, be careful, this armchair economist might throw some rent-to- own or ottawa-is-more-affordable-than-vancouver calculation at you.

Borja

@N
your reply to patriotz deserves +1000
you are a good man

bubbly

@Anonymous: I did not say that Victoria housing costs are affordable. Next time focus on what is actually being said before you respond.

Anonymous

@Patiently Waiting: i told you, karma came back to haunt you, nothing is wrong with the youth or the econ.

Patiently Waiting

Tons of Open Houses in Coquitlam today. Lots of balloons and signs everywhere.

patriotz

@Anonymous:
“Our economy used to be based on forestry, fishing and mining.”

There also used to be a fair amount of manufacturing and secondary industry. In the Vancouver area there was a steel mill, telecom manufacturing, shipbuilding, a lot of stuff like glassmaking, and Refinery Row on the Barnet Highway (we’re now down to 1 refinery and import a lot of gas from the US). There was even an airplane plant during WWII, and for decades after CP Air used to have its maintenance center at YVR. Not surprisingly, a lot of those sites are now condos (for example the Skytrain corridor through South Burnaby).

T

@Vote

Bad parenting sometimes has the economy to blame. I know families where the parents neglect their children’s emotional needs just for the pursuit of wealth. They worry more about making money to climb the property ladder than to spending time with their kids.

Drugs are the cheapest way to have fun. $20 bucks on booze, weed, dope, ecstasy can last almost a whole night. Anyone can pick up and start abusing with minimal training.

Going to playland, stanley park, camping all costs daylight hours, alot of money, and planning. Enjoying these activities require a long term exposure too. A teenager isn’t all of a sudden going to know how to go camping. An adult will be to shy to learn to swim or bike.

an observer

@Anonymous: “This is in response to the post that stated corporations are leaving Vancouver or not coming here solely based on housing costs. Just not true. They wouldn’t come here even if housing was 50% cheaper.” It isn’t the sole reason of course but the problem is that the key people who would lead these corporations can not be recruited to come to Vancouver (or if they are here to begin with then keeping them here) because they are horrified by our real estate conditions. A lot of times these are slightly older people with families who don’t want to rent and can’t justify paying triple the cost for a home that is 1/2 as nice. If real estate comes down 50% and the NDP have had their 4 years of fun destroying what was left of the economy and… Read more »

Vote Down The Facts

@Patiently Waiting: “Why do so many young people end up in trouble with drugs and not in apprenticeships?”

Bad parenting, nothing to do with the economy.

Anonymous

@Patiently Waiting: “Yes, but why is there no industry here?”

Our economy used to be based on forestry, fishing and mining. I agree once home building slows and the wealth effect of high housing prices fades things will look much different around here.

Anonymous

@bubbly: “Why Microsoft chose Victoria over Vancouver for their new game design studio:”

I wouldn’t call Victoria housing costs affordable. Big difference between a game studio and a head office. For every game studio in Victoria there are 10 in Vancouver BTW.

Anonymous

@YVR2ZRH: “Speaking from Zurich, which has even higher costs, I hesitate to respond and explain it to you because it you don’t know, then you would not understand.”

I understand completely. The point was there a few corporate head offices in Vancouver for a lot of reasons. None of them are related to housing prices. You might want to go back and see what we are talking about. This is in response to the post that stated corporations are leaving Vancouver or not coming here solely based on housing costs. Just not true. They wouldn’t come here even if housing was 50% cheaper.

N

@patriotz: “The native language of BC – i.e. the common language which people who are born here speak – is English. Your pseudo-concern for First Nations people might come off better if you understand that they don’t like to be called “natives”.” Yes, that’s right. The native language here is now English. When English speakers first came here it was a mix of Salishan languages. If people coming to a new place should give up their language and learn the one in the place they are coming too, then the Europeans coming here should have learned the languages that were native to BC, and we should still be speaking them now. But that’s not how it works. So people speak English here, and French in some other places. There are still cafes on the Drive where most people speak Italian.… Read more »

Ralph Cramdown

All cities have a natural ‘watershed’ as it were; an area from which they are the default draw for people looking for better opportunities. Vancouver’s is pretty much limited to BC, and even at that, there’s plenty who instead head to Calgary, Edmonton, Ft. Mac, Toronto, Los Angeles, San Jose or New York.

Ain’t nobody in Asia thinking they’re going to Vancouver for career growth opportunities rather than Tokyo, Shanghai, Hong Kong or London. Nobody in the US. Few in Eastern and central Canada.

Companies are perfectly willing to locate at a place with high cost of living IF that place easily draws talent from a large area.

YVR2ZRH

@Anonymous:

Speaking from Zurich, which has even higher costs, I hesitate to respond and explain it to you because it you don’t know, then you would not understand. Vancouver is a Provincial Outpost. These other cities are financial services centres and international headquarters where making $500K per year is not considered unusual. That level of pay just does not exist in Vancouver except in limited areas.

bubbly

@Mothball: And, of course, London and New York are Alpha++ global cities and Hong Kong is Alpha+. They are centres of world finance and business and high prices are a *result* of that.

bubbly

Some people need to refresh their memories: Why Microsoft chose Victoria over Vancouver for their new game design studio:

“The sun shines over here, there are no hour-long commutes, housing prices are half as much . . . it was an easy decision,”

http://www.globaltvbc.com/microsoft+to+open+game+design+studio+in+victoria/6442533164/story.html

Patiently Waiting

@Anonymous: Yes, but why is there no industry here? I guess it becomes a bit of a feedback loop. Once this bubble pops, we’ll see our economy for what it really, and it ain’t pretty.

Why do so many young people end up in trouble with drugs and not in apprenticeships? Like the punks wandering my neighbourhood 😛 Its not just failings on their part. Something is broken.

Groundhog

“Which cities in Canada are ‘first rank’?”

As far as jobs and corporate headquarters I would think Calgary, Winnipeg, Toronto, and Montreal would all be ahead of Vancouver.