Open Topic

FFFA! Bears! Condo! Fail! Trump! Yields! Obsessed!

133
133 Comments

Hey, wake up.. it’s FRIDAY!

And that means it’s time for our regular end of the week news round up and open topic discussion thread for the weekend.

Lets do it. Here are a few recent links to kick off the chat:

–Presales sales fail costs $750k
–Crash won’t hurt banks at first
–Rates and bonds
–BOC on housing market?
–Trump name sold to Holborn
–Toronto Trump tower CEO resigns
–Nasty bear loving?
–Debt income ratio falls
–Yields rise, as does insurance
–Cost driving students out?
–Canadians obsessed with RE
–Condo depreciation reports
–

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

 

133 Comments
newest
oldest most voted
Inline Feedbacks
View all comments
Anonymous

Son of Ponzi:

Treasonist Canadian Gov isn’t protecting our currency!

94 cents and falling. RE getting cheaper for the 2.5 Billion Indian and Chinese…..When Cnd people understand, there will be a revolt.

0
0
Son of Ponzi

# 131
Hang Seng is also getting hammered again.
Ham is retreating from Vancouver to cover their losses in HongKong and China.
I sell two, my sister sell two.

0
0
Best place on meth

I’ts Monday morning in Shanghai, and their pathetic excuse for a stock market is getting monkey-hammered.

0
0
FATHER

thank you vci

0
0
Son of Ponzi

#127
Swallows were considered a threatened species a few years ago.
But now they can be seen all over Richmond again, keeping those pesky mosquitoes and flies under control.

0
0
patriotz

#126:
What does $300K buy in Beijing?

Yes an easy shot I know, but what the heck. BTW I know an immigrant couple (one Chinese) who live on the Quebec side and they seem to like it OK.

0
0
patriotz

BIS says central banks must stop supporting economy
One robin does not make a spring, but we’ve been seeing quite a few.

0
0
Anon #10000

#64
“Anon,
If you had to choose between living in Quebec or China.
Which way would you choose?”

—————————————————-

One is a corrupt, xenophobic cesspool that holds Canada in contempt and the other is China. That’s a tough one…

0
0
Son of Ponzi

# 123
My dad was a master of playing that game.
Paying off old debt with new more expensive debt.
After he went to jail, I was taunted in school.

0
0
Aggregator

“no ‘rush to the exits’; people are making mortgage payments”

Sure, by paying their mortgage with other debt.

http://i.cubeupload.com/NaDx0c.png
http://i.cubeupload.com/Ow3wkd.png

The only thing left in this market is for banks to begin limiting credit to consumers and start knocking every debt zombie out of their own misery. Unfortunately, debt zombies are profitable to banks so there’s no reason to knock them out. At least until they’re forced to when a crisis hits.

0
0
Son of Ponzi

Move over Ponzi. Here comes Poloz.

0
0
Anonymous

caucasians on credit can’t buy on the north shore, lol.

VHB Says:
June 23rd, 2013 at 10:03 am 118.
– tighter bank landing really affecting SFH in the million+ range. That’s why NV is so slow right now. Less effect on VW SFH because fewer there are CMHC-dependent.

0
0
Son of a Poloz

Bank of Canada Governor Stephen Poloz says Canadian consumers did their part for the economy by borrowing the country through the worst recession since the Great Depression and now it is the turn of businesses to start spending. http://www.ctvnews.ca/business/stephen-poloz-consumers-have-done-their-part-now-it-s-up-to-businesses-1.1332423 Gee, how does that work Poloz? BoC has one rate for everybody, businesses and consumers. What the hell does your office have to do with what you’ve said? Sounds like you’ve been studying the useless remarks of the great useless like Greenspan and Carney before. For once I’d like a BoC Governor to have some guts and tell it like it is. Poloz knows he can’t do anything until Bernanke stops printing. BoC doesn’t set the rate, the Fed does. Poloz, why not do a real public service and just shut the fuck up until you have something coherent to say.… Read more »

0
0
VHB

Local inventory report: – VW condo inventory is about *half* what it was in 2010. Around 600 now. Last year this time was close to 900. – VW SFH pacing along 2008 levels; 100 or so below last year. Been flat since March. – NV SFH is off the charts high. Burnaby very high. Here’s what I think is going on: – no ‘rush to the exits’; people are making mortgage payments – excess inventory reflects lower sales, not higher new listings. – tighter bank landing really affecting SFH in the million+ range. That’s why NV is so slow right now. Less effect on VW SFH because fewer there are CMHC-dependent. – Condo sales benefiting from super low interest rates. The million dollar CMHC limit isn’t binding for 99% of condos, so financing is fine there. Lots of newbies entering.… Read more »

0
0
Contestant #3

what is 54 years ago, age of Peak Investor

0
0
Son of Ponzi

Talked to a mortgage broker yesterday.
Business is way down.
Which confirms the low mortgage application numbers.
The number of mortgage applications is a leading indicator and therefore a sign of things to come.
Low mortgage applications = low home sales.

0
0
Aggregator

“It gives an indication more apps are being done through conventional channels.”

B lenders are getting hammered from B20 rules. Read here http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2013/06/monoline-lenders-unplugged.html and see CMHC MBS data for May here http://i.cubeupload.com/XYD2Rw.png

I think the question everyone wants to know is: who’s buying in this market? Well, if Van’s market is anything similar to Toronto, sales data sorted by price range may give some clues as to who is and isn’t buying. http://i.cubeupload.com/KMHYYR.png

Whatever equity remains from those who have benefited the most over the years is now contracting. Once that drops to a substantial level, there won’t be many move-up buyers left. Then it gets ugly.

0
0
Anonymous

It gives an indication more apps are being done through conventional channels. Not sure what it tells us other than lenders altering their loan channels

0
0
Aggregator

“I doubt mortgage applications are down that much.”

I believe it’s the percentage of online applications relative to all originations. Either way, it’s down big time and gives some insight on what people are thinking.

0
0
Anonymous

I’m glad the immigration debate has reached this blog.

There needs to be an end to the provincial nominee programs. Just hate it when people here in Surrey say that they have to fly to Montreal to “check in” for a few days….whatever that means??

Immigrants use the prairies (investing in business, farms) and Quebec (Investor) as a stepping stone to get to Vancity and Toronto. Add all the TFW and students coming to these cities and RE goes vertical.

These new immigration programs came into mainstream in 2002…coincidental??? I don’t think so!

0
0
Son of Ponzi

Even better,
Send all the new immigrants up north for 3 years.
That should teach them.

0
0
Anonymous

#96 Son of Ponzi said:

Youth employment in BC is about 26%.
Every business immigrant should be required to hire two youth for 3 years before getting PR status.

Maybe instead eliminate the minimum wage. I need youth working at a global wage to clean and cook in my Richmond mansion. Eliminate the minimum wage!

0
0
Anonymous

Rates have no impact on momentum.

prices skyrocketed from 2002-2007 (when rates were 50% higher)…..before emergency rates of 2008 – present.

that is a fact.

If you can’t stomach it, downvote.

0
0
Contestant # 2

What is the cancellation of the Avro Arrow?

0
0