Friday Free-for-all! December is here!

Hey!

If you’ve been keeping track of the days in the work week you know what time it is – Friday Free For All Time!

This is when we 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:

Rent Vs Buy in BC
Rent Vs Buy south of there
Blame Canadas Big Bubble
Toll the border?
Abandoned homes up for grabs?
Realtor Hunger Index
Sunshine Coast Stats
London asks UK for foreign buyer tax

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

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Melba
Guest
Melba

…..Confirms what we already know, rich imigrant families buying houses for their children to live in while going to school. “18 years old, he was living alone in a large home in the exclusive Vancouver neighbourhood of Dunbar”……

“I was this perfect kid,” Kuo said as he recounted this life-changing experience. “I had this spotless record, you know? A UBC pre-med student.

I doubt very much that UBC has a ‘pre-med’ program. What a dork.

Devore
Member
Devore

@mac “Pre-sale market is different from the “used” market. That in itself is proof to me that money isn’t purely local.”

Of course it’s not “purely local” :rolleyes: thanks for pointing out the obvious.

And of course pre-sale market is different from resale. One is speculative, for delivery years in the future, the other for immediate use.

snake
Guest
snake
An Observer
Guest
An Observer

“From the Vancouver Sun:

“VANCOUVER — If the futuristic television show Almost Human is anything to go by, TransLink will be getting a massive infrastructure budget for new rapid transit links over the next 35 years.””

Hilarious article… Maybe tomorrow we’ll see:

“VANCOUVER — If the futuristic television show The Jetsons is anything to go by, we could see the elimination of road, bridges and Translink due to floating cars”

mac
Member
mac
Yes, Ponzi, lemme correct Joe Mainlander’s correction. We know they need 50% sales. We know they got them and some of us–The Hot Money Denier Deniers–know where they went for that money too. In fact, they’re still getting them because more and more buildings are going up. I spoke to a sales guy at the fancy kitchen appliance store down the road and he was stunned when I agreed with him that the market was hot in terms of properties being built and pre-sold but that anyone who wanted to resale a “used” property was SOL. He’s said no way, their company is swamped with orders from the big developers. Watch the big developers, he said, when they slow the market slows and they’re not slowing. Pre-sale market is different from the “used” market. That in itself is proof to… Read more »
realitycheck
Guest
realitycheck

Usually a lurker:

How dare you acknowledge the existence of HAM. You know it is politically incorrect to do so. You are borderline racist and will be outed. Look in the mirror and say 1000 times, HAM does not exist. Then you will be back in line with the rest. Sarcasm.

Son of Ponzi
Guest
Son of Ponzi

Joe Mainlander #78
just visit Central and North Richmond.
Presentation Centers everywhere.
As I said,developers are addicted to growth and they are going for broke.

tedeastside
Member
tedeastside

when it comes to international immigrants, America gets the best and brightest, Canada (mostly vancouver) gets the unskilled third world criminals seeking welfare and handouts, whose only intention is to scam and live on the dole … Canada’s not the land of the free and home of the brave..quite the opposite

Usually a lurker
Guest
Usually a lurker

Interesting article on “astronaut families”: http://www.scmp.com/news/china/article/1364563/children-rich-chinese-home-alone-canada-face-challenges

Confirms what we already know, rich imigrant families buying houses for their children to live in while going to school. “18 years old, he was living alone in a large home in the exclusive Vancouver neighbourhood of Dunbar”

Joe Mainlander
Guest
Joe Mainlander
@Mac and son of ponzi. The buildings under construction now would have been pre-sold some time ago. Developers need to pre-sale a certain percentage somewhere between 60%-80%, depending on how large the project and whether its wood-frame or concrete, in order to get financing from banks. Banks have been sticky since 2008, and most of those projects are concrete, so I’d guess the higher % would be required. The rezoning process can take 2 years and the design and construction phase can take another 2 years. Developers spend that time lining up buyers. So anything going up now is really the result of a market from 2 to 4 years ago. In order to know if developers are currently “going for broke” you’d need to see how many new rezoning applications are going forth or how many pre-sale centres are… Read more »
Snake
Guest
Snake
Snake
Guest
Snake

Exposure of Canadian Retailers to Cross-Border Shopping

http://economics.ca/2013/papers/FL0001-1.pdf

Son of Ponzi
Guest
Son of Ponzi

Mac
Same here in Ditchmond.
Building like there is no tomorrow.
Looks like the developers are going for broke.

mac
Member
mac
Just went to Park Royal and drove through downtown. Wow! There are sooo many condos being built right now. There’s a whole project that looks like Ikea shelving going in behind Park Royal Mall. Some will have views of downtown and the water. And others will have views of the Park Royal parking lot as it goes higher and higher to accommodate more shops below it. And the mall is still half empty. Anywho… downtown on Georgia Telus Garden is going up, so is the Trump twist and a bunch of other ones on the sides streets. All of Georgia St. is dark in the low winter sun, except for the block where the art gallery is and hey, once the VAG moves they can always build a condo on top of that old building too. Meanwhile back at the… Read more »
mls watch
Guest
mls watch

Someone is trying to play the HAM card in… Langdale!

http://beta.realtor.ca/propertyDetails.aspx?PropertyId=13904783

kabloona
Member
kabloona

#71, Gordholio: I think the worst on TV is that Canadian Tire advert….the “she’s a keeper” ad where buddy is persuaded to purchase the HUGE tool chest instead of the regular sized version, just because his wife applied for the Canadian Tire credit card…. “Go for it!”

Go for it, indeed….. 😉

gordholio
Member
Two radio ads today, back to back on 1040. The first, with that annoying woman from some FIAT dealership in Vancouver who’s somehow compelled to shriek “I sooo what that” in reference to a new FIAT at the end of every spot. You know, like people in “normal” cities say they want an ice cream cone or a cell phone. Here, where credit is king, it’s “I sooo want that” about a $20,000 automobile. Following hot on the heels of that was an ad for The Source’s “I Want That” credit card. Yes, that’s the name they’ve given their new credit card – “I Want That.” At The Source no less, where just about everything is two or three years behind the times. Want, want, want. Buy, buy, buy. I want that. Gimme it. It’s apparently how we feel better… Read more »
Bailing in BC
Member

Purchased in 2011 for $485K

Now in foreclosure for?……http://www.realtor.ca/propertyDetails.aspx?propertyId=13906820&PidKey=-1896726916

Nothing here to see. Move along.

George
Guest
George
Gold
Guest
Gold

When my parents immigrated to Canada 30 years ago this country was a free market industrialized nation. Now it resembles a socialistic third world country that has completely no industry and it’s based on debt and consumption. Once the Chinese will revalue and back their currency with gold we will only see empty shelves. The only capital that we have is those granite countertops. I want to see Vancouver house owners trying to stick those countertops in their ….. And produce anything they consume right now, that is available to them from Walmart or any other store

Hork
Guest
Hork

….Hey 52 lets not forget the biggest crooks are in the senate and they are white and non-immigrants…..

The Senate? Really? You’re using the Senate as a benchmark? You must be new here.

tedeastside
Member
tedeastside

where else would a Vancouver newspaper get money….vancouver has no industry and no economic activity , unless they take BC BUD ads

Son of Ponzi
Guest
Son of Ponzi

My wife, of course.

Son of Ponzi
Guest
Son of Ponzi

My wide is reading the Sing Tao Chinese newspaper.
Half of it is advertising for RE.

YobiKanobi
Guest
YobiKanobi

tedeastside is bigger troll then Bull3x