FFFA! Whispering Villagers Edition

Hey! It’s that time of the week again! You made it to the weekend, let’s do our regular end of the week news round up and open topic discussion thread for the weekend. Here are a few recent links to kick off the chat:

Dog days for RE experts
Who paid for the news you read?
Sales sink in Greater Vancouver
Consumer debt growth slows
Whistler prices plummet up to 68%
Realtor hunger index at 64%
Offshore accounts leak
Whiterock approves $250 suite fee
Flaherty: the anti-Robin Hood

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

Sort by:   newest | oldest | most voted
Amanda Li
Guest
Amanda Li
Amanda Li
Guest
Amanda Li
Anonymous
Guest
Anonymous

More whispers re the best place on earth – Vancouver traffic most congested city in Canada, second to LA in all of North America. http://globalnews.ca/news/457454/vancouver-toronto-montreal-most-congested-cities-in-canada/ My apologies if this was already posted yesterday.

btw March employment data out: 55,5k jobs lost Canada. Flat was expected. USA underperformed as well.

No Noise
Guest
No Noise

post 3 was me – I guess our handles were reset w the last upgrade.

VM
Guest
VM

A cache of 2.5 million files has cracked open the secrets of more than 120,000 offshore companies and trusts, exposing hidden dealings of politicians, con men and the mega-rich the world over.

The secret records obtained by the International Consortium of Investigative Journalists lay bare the names behind covert companies and private trusts in the British Virgin Islands, the Cook Islands and other offshore hideaways.

Secret Files Expose Offshore’s Global Impact

http://www.icij.org/offshore/secret-files-expose-offshores-global-impact

Short'em High
Guest
Short'em High
@No Noise#3. Looking at the ecomomic calendar, failing a BoC interest rate or CPI surprise, April 30 Canadian GDP will be the next big event. April 30 is also very interesting for RE because that Tuesday is exactly month end. MOI for April will be cast in stone and January mortgage arrears will be out two weeks earlier followed one week later by Teranet HPI. Then, either the week of GDP or the following Monday, the official MLS and HPI number will follow. RE could be in for a media beating every week for a month starting on April 15. Vancouver RE may have only a few more days before it is beyond the point of no return for a crash. Also, that Whistler -68% headline seems oddly reminiscent of the denials among US prime mortgage holders when subprime foreclosures… Read more »
VM
Guest
VM

Over the last 13 years, the stock market has twice crashed and touched off a recession: American households lost $5 trillion in the 2000 dot-com bust and more than $7 trillion in the 2007 housing crash. Sooner or later — within a few years, I predict — this latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode, too.

http://www.nytimes.com/2013/03/31/opinion/sunday/sundown-in-america.html?pagewanted=1&_r=2&hp&

jesse
Member

Do stock market crashes touch off recessions? Well gawlee!

Anonymous
Guest
Anonymous

Bird flu fears lead to Shanghai poultry market cull

Authorities slaughter more than 20,000 birds after H7N9 strain of virus is detected in pigeons and human death toll rises to six

http://www.guardian.co.uk/world/2013/apr/05/bird-flu-shanghai-poultry-market-cull

Ben Rabidoux
Guest
Ben Rabidoux

Hi folks

I’m looking forward to visiting Vancouver again later this month to chat housing and the economy at the World Money Show. Hopefully I’ll get the chance to meet some more forum regulars. I enjoyed meeting a bunch of you last time.

Cheers

http://www.realestate2013.ca/

M
Guest
M

Anti-Robin Hood? He’s mostly telling Canadian banks don’t lend into this massive housing bubble and make it even bigger, because taxpayers don’t got your back. Mortgage business slowing buddy?
Check out this article government already working on how to deal with one of the big banks failing. In my opinion is the correct way wipe out the bank shareholders and bank bond holders but please don’t touch the deposits or give a tax payer bailout.

http://www.cbc.ca/news/politics/story/2013/04/02/f-rfa-macdonald-canada-cyprus-banks.html

Ben Rabidoux
Guest
Ben Rabidoux

Poor Helmut! Still no votes. Whisperer has 81% of the votes so far.
http://blog.buzzbuzzhome.com/2013/04/most-trustworthy-expert-vancouve-real-estate-market.html

Many Franks
Guest
Many Franks

From Canadian homeowners don’t think they’ll be mortgage-free until they’re 57: CIBC:

The average Canadian homeowner doesn’t think they’ll be mortgage-free until they’re 57 — two years longer than what they expected last year, a survey by CIBC suggests (TSX:CM).

That presents a pretty interesting linear extrapolation.

And there’s a shout-out to the Best Place On Earth:

The report released Friday also found those in British Columbia expected to be the oldest at 59 when they have paid off their mortgage, followed by those in Manitoba and Saskatchewan at 58.

Anonymous
Guest
Anonymous

….I think the slur is peppered with condo hotels, which would show a significant drop in price from when people originally bought them. Turns out they were a dumb idea, ….

You’re wrong! It didn’t ‘turn out’ to be a dumb idea, it was always a dumb idea, right from day one! One wouldn’t have to look too deep beyond the realtor snow job to realize they were a losing proposition. People that bought Whistler Phase II condos were/are suckers.

Whistler has been in a serious decline for well over a decade and it’s taken this long for the obvious truth to hit the mainstream media.

jesse
Member

Say… aren’t there condo hotels proposed in Toronto?

bon jovi
Guest
bon jovi

if they paid off house in 59, then how many years are left to save for retirement? there is no retirement in this case.

Anonymous
Guest
Anonymous

at least, they have their houses for their retirement. how about silly bears? imagine moving from one rental to the next during your aging process!

Many Franks
Guest
Many Franks

@Anonymous: Is this the kind of retirement you mean?

Manna from heaven
Guest
Manna from heaven

British Columbia shed 15,000 jobs in March and saw the biggest spike in unemployment in the country.

http://www.vancouversun.com/business/economy/loses+jobs+Canada+loses+54500+March/8200518/story.html

It is going get so much worse here in BC because of our overreliance on RE — most of these 15,000 jobs were in construction.

Wouldn’t want to be the next premier!

rp1
Guest
rp1

#8 “Do stock market crashes touch off recessions?”

No they don’t. It is the cycle of malinvestment going on behind the scenes that sets up a recession. The market is like a narrative that investors are telling themselves.

rp1
Guest
rp1

#14 “It didn’t ‘turn out’ to be a dumb idea, it was always a dumb idea, right from day one”

Actually on day one it was a brilliant idea, but only because of the sheer number of bigger idiots that followed.

Anonymous
Guest
Anonymous
Best place on meth
Member
Best place on meth

Wow, great jobs numbers BC!

Keep up the good work.

Anonymous
Guest
Anonymous

be thankful that you have a job to go to. oh i gorgot, you live with your mama.

mac
Member
mac

Anon 22,

Hmmm… I might have to side with George Costanza here.

wpDiscuz