Friday free-for-all! Octoberish!

It’s Friday and that’s important here!

Yes, even when we miss a whole week of updates it’s still friday-free-for-all time.

This is our regular end of the week news round up and open topic discussion thread for the weekend.

-links coming soon, hopefully!

In the meanwhile, what are you seeing out there? Post your news links, thoughts and comments here and have an excellent weekend!

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YVR
Guest
YVR

hunter: “my only reference is this. my monthly pension (CPP, OAS (in few years), and 4% safe withdrawal rate from my savings) would amount to $4,000 per month.”

You should be able to afford $1000 per month rent. You can pretty much live anywhere in Vancouver proper with exception of downtown for that if you are not too fussy.

Siding
Guest
Siding

You already know thus significantly in terms of this matter, produced me in my opinion believe it from a lot of various angles. Its like women and men don’t seem to be fascinated except it is one thing to do with Woman gaga! Your own stuffs nice. Always take care of it up!

Son of Ponzi
Guest
Son of Ponzi

#177
Victoria would be a good choice.

hunter
Guest
hunter

my only reference is this. my monthly pension (CPP, OAS (in few years), and 4% safe withdrawal rate from my savings) would amount to $4,000 per month.
i don’t care about weather. There is nothing in Vancouver that i could not live without. I would like to stop driving and use transit. i would like to have cultural life in that city (musicals, symphony, theater etc..), so it has to be a city with pop from 200k and up.

I worked in Abbotsford 20 years ago and commute from Van and no, I would not like to live there.

Aggregator
Guest
Aggregator

Calgary running out of land too?

Yep. Now comes micro-condos and a bigger herd of immigrants.

neverywhere
Guest
neverywhere

173: good question, but without any info how could someone give you advice? What do you like about Vancouver and what could you live without? Do you want to stay in the same climate? Do you want to live in a small town or another city? With some specifics there are probably some ideas here.

Softy
Guest
Softy

“I am retiring in few years and I don’t think I could afford to stay in vancouver. Where should I move? Any ideas?”

Maple Ridge
Langley
Surrey
Abottsford

hunter
Guest
hunter

I am retiring in few years and I don’t think I could afford to stay in vancouver. Where should I move? Any ideas?

Son of Ponzi
Guest
Son of Ponzi

# 170
“you’d think the bank would be happy to loan us more, considering that we have 3 mortgages with them.”.
That about sums up the insanity that is RE financing in Vancouver.

patriotz
Member

@165: “I hv a fd who is trying to sell a 3 yr old duplex in Bby Suncrest. There has been no viewing or offer since the place first posted since June. ”

Asking a price that results in no viewers or offers is not “trying” to sell. Nothing personal, I’m sure those are his words.

YLTNboomerang
Member

Loaned my sis and her husband $25K for a bridge loan 3 years ago (yea yea, I know, never lend family money), anyway after it became clear that they would not be able to pay the loan off right away they agreed to 4% interest (the same as my margin account). I asked them this weekend why they don’t get a loan from the bank for the 10K they owe me as surely the rate would be lower. Bank won’t loan them anymore; she was surprised and said “you think they would be happy to loan us considering we have 3 mortgages with them”. This is the problem, so many people just don’t get it, they are a 1% rate increase from tits up!

gopher
Guest
gopher

‘I wonder how many ppl will buy a house first then sell his existing home later’?

http://business.financialpost.com/2013/02/02/should-you-sell-your-house-before-you-buy-a-new-one/

clues to your question at the bottom of this article.

Turkey
Guest
Turkey
@Many Franks, There’s a great read in October 2013 Harper’s Magazine about the race-to-the-bottom in journalism. As material goes on-line, newspaper profit suffers. That leads to a decline in editorial and reporting standards, which reduces profitability even further. Eventually, publishers either go defunct or try to arrest the downward spiral by erecting paywalls (see G&M, NY Times, etc.) October’s Harper’s has an editorial polemic from their editor, accompanied by a translated article from XXI Magazine. Their arguments? By the time a paper has flirted with free content and moved on to paywalls, the quality of the publication has plummeted to the point where nobody’s willing to pay for it. Examples? I won’t buy a Globe and Mail account because (a) it’s too expensive, and (b) I’m not willing to give a red cent to Margaret Wente. Harpers’ entire approach to… Read more »
rp1
Guest
rp1

#160 It took the largest market intervention in a generation to do that, and Canadians have continued piling on debt. We haven’t seen the end of this show.

It reminds me of 1998 when the US had a stock bubble and the Asian financial crisis hit. Greenspan “saved the day” and the party continued, for a while. Then it seemed to plateau. Then it turned into a waterfall. Even if you bought at the bottom in 2003, you would have lost into 2009 and even more so when the value of the currency is accounted for. Once systemic overvaluation occurs there is no way out for investors.

Atomic Frog
Guest
Atomic Frog

I hv a fd who is trying to sell a 3 yr old duplex in Bby Suncrest. There has been no viewing or offer since the place first posted since June. His family has already bought and moved to a house in N Van, so they need to sell this duplex asap. The interesting part is that the asking price is exactly the same price that he bought 3 yrs ago meaning that this will be a capital loss for sure. Renting it out for a short period of time is not an option as they need to sell this duplex asap.

I wonder how many ppl will buy a house first then sell his existing home later.

Son of Ponzi
Guest
Son of Ponzi

Every city will eventually run out of space because of diminishing marginal utility.

Laurey
Guest
Laurey

“supply and demand”

Poloz is one funny guy.

VMD
Member

– Calgary running out of land too?
Calgary Sun: Shortage of land driving out buyers

OCTOBER 20, 2013
“The following column was provided by the Urban Development Institute and the Canadian Home Builders Association – Calgary”

Barb Rennie
Guest
Barb Rennie

He shook his head, citing supply and demand; people want to live in Vancouver because it’s such a great place, just like they want to live in Hong Kong where housing is also prohibitive.
___________________

But at least Hong Kong has been trying to curb speculation for the past 2 years by applying a huge stamp duty for flippers. If you buy and sell within 2 years, you have a heavy tax to discourage speculation. Also, it is very difficult to qualify for mortgages on more than one piece of real estate. Canada hasn’t even begun, or who would be buying all these presales?

Market cough
Guest
Market cough
Softy
Guest
Softy

Bears always say that every bubble ends in a crash.

That means you will have to admit that here was no condo bubble in Vancouver. Condo prices have flattened out at a high plateau (something the bears said was impossible). Five years after the peak, no condo crash.

That means there never was a condo bubble based on the bears own definitions.

There has never been a bubble in history that was flat for five years post peak.

Why will houses be any different?

franko
Member
franko

SMOG SHUTS DOWN CITY OF 11 MILLION IN CHINA.

The world Health Organization has warned that a pollution level of anything over 300 ppm is dangerous. Levels of (you ready for this?) around 1000 ppm were recorded in some parts of the city of Harbin.

The rate of growth of cities in China is downright scary. Some estimates put the population of Chongqing at well over 30 million…and this is a city that a lot of people have never heard of.

What ever happened to the One Child policy?

jesse
Member

“Did a bull gauge the other one”

He gauged it all right, but he missed.

Son of Ponzi
Guest
Son of Ponzi

After Carney, you got to admire a supply and demand Governor who admits he’s got no clue.

Son of Ponzi
Guest
Son of Ponzi

Jesse,
You have only one leg. Did a bull gauge the other one? 🙂