Friday Free-for-all!

Do like traditions?  Well every friday we have a tradition of rounding up the news and running an open topic discussion thread for the weekend.

It’s that time again!

Here are a few recent links to kick off the chat:

Tsur: 10% drop next year
Bottom call thread
Another rate hold another warning
Lets not pay off the debt
Inventory chart updated
Don says no to bubble burst
Toronto leads in hirise construction
Why don’t we do it in the road?
The all-leverage plan
Commodities to collapse?

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

PS: here are 10 more invite code to VancouverPeak.com for those that wish to register there:

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Strataman
Member
Strataman

@Vote Down The Facts: Building code is not applicable to developers. Building inspectors never set foot in developments signed off by engineers hired by the developers. Reporting a major building code violation to a city inspector will result in them saying it was signed off by a qualified engineer and they retreat. The “minimum standards building code” is as real as the tooth fairy!

More Data Please
Guest
More Data Please
@RaggedyRenter: re: “[export] salmon/lumber/wine/what-have-yous from BC [to China]” Good point, but for taxes on this side and the risk of operating a business with tangible goods that must be shipped and can be lost/pilfered or might not sell as well as anticipated. The cards are pretty efficient by comparison even if you have drawers full of them and the redemptions are a bit awkward (many cards per purchase) on high ticket items. Cards at $10,000 per piece are smaller than 20 dollar bills and can pass through customs/mail without cash limits and sanctions. A legitimate business of that sort would also need high initial cash, Canadian operating loan, employees… etc. Lots of attention, risk, and paper trail. I also wonder if the bulk BC trade export increases might be more easily explained by increased shipments of bulk raw materials rather… Read more »
RaggedyRenter
Guest
RaggedyRenter

@More Data Please
Re: Cash cards
How many cash cards do you have to carry ? Wouldn’t it be easier to setup a numbered corporation and import salmon/lumber/wine/what-have-yous from BC and jack up the price by 200%?
Why do you think there’s a huge spike in export? From 2002 to 2008 we did about $100-200 million increase in export to China, a really good increase by itself. Since then, increases of 500m, 1.3b, 1b in each of the last three years.

Vote Down The Facts
Guest
Vote Down The Facts

@Anonymous: “As with anything you can buy different quality.”

There’s this thing called building code which defines a minimum standard…

Anonymous
Guest
Anonymous

@Anonymous: I went to Manning Park for a hike last year and had the same experience with mosquitoes…

Yalie
Guest
Yalie

@YVR:

I enjoy EVERY MOMENT of my life regardless if my portfolio is GOING UP or is GOING DOWN. and why I would sell my place? I love it, i raise my family in it, and will be paid off in 10 years.

Great, you are financially secure due to the good fortunes of the housing market since you purchased several years ago. But why are you on this blog encouraging others to buy at the very peak of the most over-valued housing market in the world? Do you wish financial hardship on others? Or, perhaps, are you just a little more worried about your own house falling in value than you care to admit?

Chip
Guest
Chip

HAM goes missing?

“[SINGAPORE] The number of private homes in Singapore bought by Chinese citizens in the first nine months of this year has fallen to half the figure for the same period last year. Malaysians and Indonesians – the other two major groups of foreign home buyers – have seen smaller declines.”
http://www.businesstimes.com.sg/premium/top-stories/china-nationals-private-home-purchases-down-48-20121029

Anonymous
Guest
Anonymous

@Vote Down The Facts: “Let us know how your first winter goes”

Winter are the good months in Winnipeg. When the snow melts it is mosquito season.

There was a summer about three or four years ago when the mosquitoes were just terrible. We like to go camping with our family and friends [near Gimli], and the mosquitoes were so bad that after three hours we were ready to pack up and go. You literally could not function.

http://news.nationalpost.com/2012/04/27/winnipeg-is-bracing-for-an-early-mosquito-invasion/

Anonymous
Guest
Anonymous

@FlipFlop: “How is this legal?”

As with anything you can buy different quality. Until buyers demand more than granite on the counter tops saw dust houses will continue to be built. Most people don’t know the difference. Consider yourself as having an advantage when you do buy because you already know more about construction quality than 99% of other buyers.

YVR
Guest
YVR

@Makaya ”
” I’m not sure you’re full of it or you really work in mining, but if you do, I would advise you to enjoy the party while it lasts (and unload your RE assets in Van while you can)…”

What is the big deal with mining? it’s industry like any other industry. I did not say that I am NASA engineer.
I enjoy EVERY MOMENT of my life regardless if my portfolio is GOING UP or is GOING DOWN. and why I would sell my place? I love it, i raise my family in it, and will be paid off in 10 years.

YVR
Guest
YVR

@Jerry
thanks Jerry. yeah i think you are right. sad, sad.

FlipFlop
Guest
FlipFlop

Anyone know of any jurisdictions that don’t allow the use of particle board and chip board for roof and exterior wall sheeting? Ie. require actual plywood.

Amazing the number of developments I see in surrey with soggy sheeting on the outside of the building, before they cover it with siding.

How is this legal?

Chabar
Guest
Chabar

Hi YVR, is this you?

http://condohype.files.wordpress.com/2008/05/stella_tn.jpg

Whenever I read something you wrote I see this guy. Smart, successful, wealthy, capable, good-looking, educated but street-smart too, well-dressed, chickmagnet, savy…

Vote Down The Facts
Guest
Vote Down The Facts

@Makaya: “Winnipeg is not that bad”

Let us know how your first winter goes 😉

Vote Down The Facts
Guest
Vote Down The Facts

@Jerry Boyle:

All Canadian milk is antibiotic free by law. Conversely, all Canadian dairy cows are given antibiotics when they’re sick – even when producing ‘organic’ milk.

Jerry Boyle
Guest
Jerry Boyle

@YVR asks “what is the reasons for prohibition?”

I think the argument would be that large-scale factory-farming dairy operations produce very unhealthy milk — their conditions create many sick animals, pumped full of antibiotics and confined in their own filth. Pasteurization is absolutely necessary to make their milk safe.

Raw milk, on the hand, tends to be marketed by small-scale organic producers. Healthy, pastured animals in clean conditions produce milk that is safer to drink without pasteurization.

Since the large-scale producers are unable to produce milk that is safe without pasteurization, prohibiting the sale of raw milk removes a competing product (that many might see as superior) from the marketplace.

IamTheChimpman
Guest
IamTheChimpman

I bought my first place in 2000 and have bought and sold eleven properties since then, as well as buying and renovating a cabin and a cessna.

And I’m now wealthy beyond imagine.

How about you losers?

Wake up and smell the coffee, get onboard before it’s too late.

I’m trying to help you. I’ve lead you to water – now drink up!!!!

Makaya
Member
Makaya
Times are tough for Realtors across Canada… Here is the joke of the day, courtesy of Kijiji: Why Rent When You Can Buy? Many renters don’t realize they have the means to purchase their own home or the benefits of home ownership as compared to renting. owning a home can be a great investment for your future. For the majority of Canadians, their home is their largest financial asset and a major player in their investment portfolio. Building financial equity is one of the greatest advantages of owning a home. Home ownership is how many Canadian families begin to accumulate wealth. Renters are the ideal clients for home sellers because their offers are not dependent on selling their own home first. There are a number of mortgage and downpayment assistance programs available to buyers. And owning a home has intangible… Read more »
More Data Please
Guest
More Data Please
@boogeybear: Getting RMB Out of China as Cash Cards On topic: I am replying to your theory on the grounds that high value instruments like prepaid cash cards might be used to finance big ticket purchases in Canada like real estate. The mechanics of gray/illegal transnational money transfers are also generally interesing. For the purpose of this discussion I am talking about Chinese RMB money. http://www.china-briefing.com/news/2011/11/11/getting-cash-money-rmb-out-of-china.html Chinese nationals face a US$50,000 annual ceiling when exchanging RMB into foreign currencies while foreign nationals do not face such restrictions. Thus we had that case of the British national who was murdered for not cooperating with certain corrupt officials who wanted to move money. To the credit of the authorities, the perpetrators were subsequently prosecuted by Chinese authorities rather than disappearing the body. The Chinese capital controls regime certainly creates some strange incentives.… Read more »
Makaya
Member
Makaya
@YVR: Look who is talking the guy who could not make it in Van and moved to miserable Peg LOL It’s funny how, for the BPOE cult follower, it’s not conceivable to want to move out of Vancouver. Before I left, I was told: “I wouldn’t wish that to my worst enemy” or “have you been punished”. You’re not original. The thing is, I’m a contrarian for a lot of things, and that has served me very well in the past. As I said it here before, I moved out because I chose to. Same company, same job. It turns out that I could, if I wanted to, move back to Van. I move to the Peg where my main client is at the moment, which allows me to spend more time with my family. Being constantly ripped off in… Read more »
boogeybear
Guest
boogeybear

@More Data Please:

The car was likely purchased using a prepaid credit card in order to get money out of the country.

Patiently Waiting
Member
Patiently Waiting

@More Data Please: “You might be able to negotiate it down to partial repair cost”

Assuming cleaning doesn’t work, its best to try to work it out informally. How long is a carpet in a rental expected to last? That would be a way to determine a share of cost.

More Data Please
Guest
More Data Please
@YLTNboomerang: Security Deposits The inspection report is the critical document all else being equal. See the link below on the process in BC. There are a number of forms you can file to reclaim unjust damage deductions for example. So, if you’ve effectively admitted the damage is due to your action or inaction, then I would suggest getting some quotes from firms you would find using the online queries “vancouver carpet repair” vs “vancouver carpet cleaning”. My experience suggests that the owner, no matter how professional, will not use the entire award to cut out and replace the damaged piece of flooring if a cleaning might suffice. Professional cleaners I’ve found are less worthwhile than bonafide cut and stitch repair firms. Cut and stitch will require a good piece of matching carpet though… You might be able to negotiate it… Read more »
Rusty's peaceful rise
Guest
Rusty's peaceful rise

@Anonymous:

“do you think they are posting about it on real estate forums?”

They arent allowed to post about it at all – they do so at their own risk

mac
Member
mac

To the moderator:

Hiya. I was wondering if maybe you would consider upping the number of likes before a post goes to yellow highlight and/or green box, yellow highlight? I think the setting right now is too low as most posts are being highlighted–even the ones about meat, paint and olive oil! 🙂

I used to enjoy a quick scroll through the site before. Food for thought. Many thanks for keeping this site going.