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Dan Sullivan
Guest

Low taxes on real estate causes prices to be high and unstable. California, which gets the lowest share of its revenue from real estate, had the least affordable housing in the nation in 2005, the year of the peak. They have also had the most housing foreclosures per capita.

http://savingcommunities.org/issues/taxes/property/affordabilityrank.html

Also, housing bubbles occur every 17-18 years, and are about as predictable as the cicada. It’s the severity that varies, not the timing.

Xyz
Guest
Xyz

Did you fix the site? Now reading on my iPad isn’t torture 🙂

squeako
Guest
squeako
#94: Sure, if there is no pain (using cash, the stirn face of granma..ops the queen will look at ya)it is easier to “let go” with a card. Yes, we are analyzed to bits as how they can to get their hands in our pockets. Younger folks are addicted to the i phones, I guess you can make payments with those too.. How fun and entertaining way to pay, when intertwined with fun media, games and friends. Will gaming find its way there too, with little “mini sessions” of gaming, and little wins? Hmm.. lemme guess, it is already here? The rat experiment: rats keep pressing the button that zaps “feel good centre” in the brain with a probe. Somehow the latest phones seems to do the same thing, online, facebook, twitter, games.. we keep pressing buttons, and receive the… Read more »
aa4
Guest
aa4

It will be interesting to see if the NDP is talking tough on opposing these resource projects in order to avoid a vote split.. or whether they actually believe in the radical greenism.

The goal in democracies is during the campaign tell people whatever they want to hear.. ‘higher home prices, shut down industry in the province, better pay for government workers’.. and then when elected do whatever you planned on doing all along.

Landbaron
Guest
Landbaron

Does this world class city include the biggest restaurant in Western Canada?

The Salt Building in the OV has been wrapped in banners proclaiming the greatest restaurant on earth (I’m exaggerating) will be open THIS summer.

I have yet to see any work being done and it’s pretty close to summer. Me thinks it’s been scrapped…

Short'em High
Guest
Short'em High

@squeako#91. There’s a social theory making the rounds to the effect that the form of payment makes a difference to consumption. Do you think it makes make any difference to your total spending, cash vs credit card?

This idea mentioned on CBC Radio in commentary about the “debt too hard” story. I can’t find an actual study, but here is one ad-hoc reference:

http://www.psychologytoday.com/blog/in-excess/201304/stake-and-chips

plastic surgery
Guest

First off I would like to say fantastic blog!
I had a quick question that I’d like to ask if you do not mind. I was curious to find out how you center yourself and clear your mind before writing. I’ve had a difficult time clearing my mind in getting
my thoughts out. I truly do take pleasure in
writing but it just seems like the first 10 to 15
minutes are lost simply just trying to figure out how
to begin. Any suggestions or tips? Many thanks!

Crikey
Guest
Crikey
@anonymous #88, “Japan has a declining population. Can your brains handle that? Canada has the highest rate of immigration in the world and even without that, it has a rising population! Enough of this naiveness.” Ah, if it isn’t the mathematically challenged troll, back for more! Japan has a population *four* times larger than Canada’s, living on an area *twenty-three* times smaller than Canada. “Can your brain handle that?”. I didn’t think so; no wonder you’re anonymous. If there is anywhere that they aren’t “making more land” it ain’t Canada, it is Japan. Canada has so a huge land area, with so many resources, and so few people, that to have such a high price/income ratio because people like you think land is running out… is idiotic. And, the real estate bubble in Japan burst long, LONG, before the population… Read more »
squeako
Guest
squeako
Off topic.. belonging to previous topic.. just wanted to say: “Getting out of debt too hard for some” Well.. I would be in debt too if I drove a new fancy car or van or hybrid, but I dont, I drive a 20 year old beater and it works fine, ty. I would be in debt too if I bought a house /condo in Vancouver/victoria/kelowna but I didn’t, I found a nice reasonable apartment with a view. I would be in debt too if I went to uni to get a degree to date/schmooze potential future mates, but I did not, I took a college course in a field that needs people, yes, hard work, but I am working, it could lead to a degree, if I choose. I would be in debt too if I went out to eat,… Read more »
bird-man
Guest
bird-man

‘Appalling irresponsibility’: Senior scientists attack Chinese researchers for creating new strains of influenza virus in veterinary laboratory

http://www.independent.co.uk/news/science/appalling-irresponsibility-senior-scientists-attack-chinese-researchers-for-creating-new-strains-of-influenza-virus-in-veterinary-laboratory-8601658.html

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

i think VHB has gone back into hibernation after he realized the crash isn’t coming.

not sure why you guys put up with him. first he took down his blog after being wrong for years. he came out of hibernation for the 2008/09 crisis. but that didn’t work out. now he’s gone again.

fair weather bear. you people should have higher standards.

Anonymous
Guest
Anonymous

Madashell and Goldmember:

Japan has a declining population. Can your brains handle that? Canada has the highest rate of immigration in the world and even without that, it has a rising population!

Enough of this naiveness.

chilled
Member
chilled

Sean Says:
May 2nd, 2013 at 9:20 pm 84

NDP candidate for Richmond Center Frank Huang, during an all Chinese candidate debate in Aberdeen Center, admitted he joined Chinese Communist Party in 1990, one year after the Tienanmen massacre.

++++++++++++++++++++++++++

These are the types of comments where a vote up or a vote down may not come out as intended.

Regarding this election, like many recent, is off the rails. A working man running for conservatives, communists and lawyers with the NDP and, and, well, whatever they are, running for the Liberals. Anyone else remember the good old days when lawyers/business/academics/professionals supported conservatives, working stiffs
the NDP and those trying to buy the ethnic vote, the Liberals? Ah, for the good old days.

mclovin
Member
mclovin

“Vote Conservative if you want to send a message!!!”

That is throwing away your vote

A vote for the Conservatives is a vote for the NDP

real_professional
Member
BC Votes: I’m voting conservative, and I’ll tell you why with my coles-notes version: Liberals: did a horrible job, they failed to generate a capital war chest despite economic boom times over the last decade. In fact they did quite the opposite. I also haven’t seen any diversification of the economy away from resources and the multiplier effect of consumer leverage aka real-estate. Had they accomplished any diversification they would have earned major kudos from me. NDP: They were the second choice and I was planning on voting for them because the Liberals had done such a poor job. My reservation originates from their alignment with labour unions, aka overpaid government workers, the most dangerous special interest group in my opinion. Still I was willing to overlook this, however, Dix’s opposition to the expansion of the Kinder Morgan pipeline was… Read more »
Sean
Guest
Sean

NDP candidate for Richmond Center Frank Huang, during an all Chinese candidate debate in Aberdeen Center, admitted he joined Chinese Communist Party in 1990, one year after the Tienanmen massacre.

Absinthe
Member
Absinthe

The Real Cost of Home Ownership – as shared in my Facebook feed.
“The sucker’s analysis of whether it’s affordable to buy a first home is to compare the cost of rent and a mortgage payment.”

http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/home-buying/the-real-cost-of-home-ownership/article11668113/

Anonymous
Guest
Anonymous

Have a look at the selling ad for MLS 1308709. Purchased for over 600k in 2011. listed now at 555,800. I really do worry about these types of locations. Exactly where many first time buyers stretched themselves.

Very Little Gravitas Indeed
Guest
Very Little Gravitas Indeed
@#67 Troll: Ongoing bubbles can’t be proven, falsified, or timed, so I can’t have any conclusive evidence, only circumstantial, the sort I listed in that post that you’d heard already. I’m not saying with certainly that we’re in a bull trap (any given bubble can have many anyway), I’m saying that there’s no reason to be surprised by this upswing given that price increases are expected before and during a crash (especially on low volume). And I do believe we’re seeing an incipient crash. Until incomes are rising relative to inflation (you know, real economic growth), I have no reason to believe it will reverse, either. There will be ups and downs and policy and regulations and we can argue all we want about whatever, but if income can’t match prices, what else can happen other than reversion? Seriously, help… Read more »
Q
Guest
Q

Vancouver Sun headline: “Vancouver home sales in April lowest since 2001”

http://www.vancouversun.com/business/mortgages/Vancouver+home+sales+remain+sluggish+while+prices/8327848/story.html

Eddie
Guest
Eddie

Not a big fan of Garth, but he hit one out of the park tonight. What a joke journalism has become!

http://www.greaterfool.ca/2013/05/02/star-2-truth-0/#comments

MarKoz
Member

None of the parties want to talk about how over-priced real estate is. 70% of the population own their own homes. Politicians want to get elected. Correlation?

Loon
Guest
Loon

None of the political parties want to mention RE because they all know it is going down !

paulb
Member

New Listings 268
Price Changes 114
Sold Listings 141
TI:17522

http://www.paulboenisch.com