FFFA! Debt! Toilets! Interns! Renting! Growth!

It’s that time of the week again!

Friday Free-for-all Time!

Let’s do our regular end of the week news roundup and open topic discussion for the weekend.

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

Household debt hits new record
Return to ‘natural economic growth’
Poloz has best drugs?
Rent by the hour
Flipping not as easy as on TV
Blackberry laying off employees
Learn how to get 100 hours of free work
Lots of new townhouses in East Van

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

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news
Guest
news

We’ve pleasurable having, cause I discovered precisely what I’d been taking a look to get. You might have ended the 4 working day extensive hunt! Lord Thanks a lot person. Possess a pleasant working day. Ok bye

registered
Member
registered

franko Says: “….I can’t really find any reason to dispute the work of Mr. Dent.”

If the fact that his ‘analysis’ is at odds with Statcan raw data and prime rate history of the Seventies isn’t enough, you could try Wikipedia:

https://en.wikipedia.org/wiki/Harry_Dent#Criticism

“In fact, http://www.maxfunds.com, a financial reporting site awarded him the The “Ultimate Charlatan”[4] Award.”

Trust of authority over one’s own eyes remains a source of constant fascination, even where such heavy emotional investment is obvious.

Ray
Member
Ray

@Randy, look at picture #2 (Kitchen). They haven’t even bothered to switch the fridge handles to the other side — so you have to stand in the garbage can to open it.

logic
Guest
logic

tyler, joe – please stop posting. I’m still waiting for my fries!

Joe Mainlander
Guest
Joe Mainlander

And those billions are also being added to hands of horny buyers in the form of cheap mortgages.

#131 is right, the world is awash with money and assets are being bid up. My purchasing power has certainly been lost vis a vis housing. No lie there.

But, how long will it last?

No Noise
Guest
No Noise

Real estate is sticky on the way down for sure although I see lots of slippery descents occurring these past 2 months now that we have the dead cat bounce behind us. In my area of interest I’m seeing prices 10-20% off the peak 1.5 years ago and still not selling!

Joe Mainlander
Guest
Joe Mainlander

The problem is that printing money creates distortions and asset bubbles. And hurts savers.

frank
Guest
frank

Joe

The problem is, all these many Billions are ending up in the hands of a ver few people.

Here’s what one Billionaire admitted

http://www.cnbc.com/id/101046937

Joe Mainlander
Guest
Joe Mainlander

Yes. If the Fed is printing $85 bilion USD per month, the Bank of England $600 billion USD and the EU $700 billion USD since 2009, and the Japanese planning to print $1.4 trillion, the world would be awash with money.

tyler
Guest
tyler

Patriots:

Easier said than done. It is extremely difficult to permanently move to Seattle (immigration wise).

Oh, horse prices have rocketed up 28% over the last 12 months. Its in the Wall Street Journal.

Now is that a bubble too?

The world is awash in money and asset prices are being bid up. Or you’re losing your purchasing power if you want to look at it that way.

This is Reality, not conjecture.

jesse
Member

“bights the dust”
Bears are obviously at the end of their rope.

Randy Randerson
Guest
Randy Randerson

Ad for sharing a condo on Nelson and Burrard

http://vancouver.en.craigslist.ca/van/roo/4084847190.html

Something tells me that this couple is bleeding money badly, otherwise why would you want to rent out one of the two bedrooms to a second couple. No mention of the size of the condo, but I doubt it’s suitable for 4 people to all live in the same roof. Shoebox living in the sky, no thanks.

This just shows that some young couple don’t have enough brain cells to know the risk of jumping into RE.

Aggregator
Guest
Aggregator

Toronto Trump tower unit receives below-minimum bid http://www.thestar.com/news/gta/2013/09/22/toronto_trump_tower_unit_receives_belowminimum_bid.html#

A unit in Toronto’s troubled Trump Hotel up for auction Sunday only received one bid — and below the minimum offer.

Kashif Khan, managing director of Toronto-based Ritchies Auctioneers, said the $550,000 bid will be taken to the owner of the unit. “At that price, we can’t close the deal . . . but we will be presenting the offer to the seller,” he said. “We don’t know (if he will accept) — crazy things happen.”

The owner of the unit, a local real estate broker, commissioned Ritchies weeks ago to sell the suite at a 30 per cent or more discount after seeing about a dozen other units in the hotel stalled on MLS for months.

Laurey
Guest
Laurey

“A new leader on the “Renter from hell” board”

at least they have shotguns in Alberta 🙂

patriotz
Member

@124: “Why don’t you leave and move to Seattle?”

I would have seriously considered it if it worked for family. And I could work there if I wanted to, like a lot of people in Vancouver.

But what’s really more significant is not people moving, but business that have a choice deciding to locate there rather than in Vancouver.

“The world is awash in money.”

You mean people like Bill Gates? Where does he live? Oh right, that city that isn’t Vancouver.

Specuskeptic
Member

The world is awash with debt. <- Fixed that for you Tyler…..

tyler
Guest
tyler

Patriotz,

Seattle is not Vancouver. Who cares what $715 K gets you there. Ever heard about immigration ? You can’t easily immigrate to seattle!

Why don’t you leave and move to Seattle?

In other news, Apple has just set a record for IPhone sales in the first few days. Now someone like Patriotz or Jesse would say that CREA is fudging Apples stats.

The world is awash in money. Get used to it.

kabloona
Member
kabloona

Specuskeptic:

Don’t you know amateur Land-lording and property speculation is the safest route to personal wealth? Stop harshing my mellow, man…

😉

Great story, by the way….

Specuskeptic
Member
patriotz
Member

Meanwhile $715K gets you this near-lakefront house in Seattle:

http://www.zillow.com/homes/for_sale/Windermere-Seattle-WA/fsba,fsbo_lt/house_type/48970357_zpid/272026_rid/200000-1000000_price/787-3936_mp/47.681454,-122.235088,47.658942,-122.290835_rect/14_zm/0_mmm/

Take a look at Zillow’s monthly cost of buying breakdown. Buying is cheaper than renting (much of that mortgage payment is principal), and the rate is locked in for the whole mortgage.

Not A Realtor
Guest
Not A Realtor

Just checked out Realtor.ca and looked up North Surrey/Guildford/Newton homes on a map.

Looks like detached homes are at a record high. New ones on standard lots are approaching $1 Million. Check it out for yourselves!!

http://www.realtor.ca

Market cough
Guest
Market cough

from ZH

“a buddy of mine spent 6 months in china, having his daughter go to
chinese language and ballet classes. he spent the days walking around, said the place was just a wreck.

“2 year old buildings were looking like they were 25 years old.
he was in beijing, and rented an apartment, the building was 95% vacant.”

Market cough
Guest
Market cough
Market cough
Guest
Market cough
chin
Guest
chin

we bears are just getting all our money out of investments to buy bulls homes at 2001 prices so no time for blogs and remember we are a very picky bunch so we may not buy all of them