Open Topic

FFFA! Debt! RRSP! Cars!

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97 Comments

It’s that time of the week again – Friday Free For All time!

This is 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:

–Canada’s skidding economy
–Fear of the Looney
–Blanket on head for driving
–Debt ridden young flee BC
–Inventory back to 2005
–Debt monster killing RRSPs
–Canadians take on longer auto loans
–Comox Valley: Rent too damn high
–

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

…Fake Ferraris, Fake Asian Buyers, Fake McMansions.
Connect the dots……

You say: “Ferrari”, I say “Fiero”, you say “Tomato”, I say what the #$@& ?

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CryingGhost

white culture is extremely disturbing yet fascinating at the same time

http://www.youtube.com/watch?v=XOMT3bRJXOo

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midnight toker

so i’ve heard this ad on am730 a few times recently as I make my way through the best traffic on earth ™. It is advertising a seminar where you can learn to flip houses, a simple three step plan to “build wealth” with “other peoples money”. Lol I think they’re a little late to the party !

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Softy

“So the government acually wants expensive housing?”

The gov wants flat housing. Falling prices are bad for the gov because CMHC will have to pay for defaults.

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Who's at the wheel

@ Softy

So the government acually wants expensive housing?

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patriotz

@90: “How come Jimmy is still living in the basement without a job and apparently we need folks up north?” he asked. “We’ve got to solve that problem now.”

You offer Jimmy a high enough wage so that he’d rather work up north than stay in the basement.

That’s your solution, which is something employers used to do all though Canadian history, until they wanted to come up with an excuse for importing slave labour.

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Softy

“Where am I going wrong?”

You are going wrong by not jumping onto the real estate band wagon, when you just explained why prices will say firm.

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Snake

i totally agree with your comment(#85) space889

My two favourite quote from the article

1)We identified the absolute perfect person that we needed to come and help us and be a success, and they said the wage, and the salary, and the cost of living is now punitive for me to actually move to Vancouver. “The mountains are beautiful,” he said. “But if you can’t afford to actually ski, they are just an annoyance.”

2)How come Jimmy is still living in the basement without a job and apparently we need folks up north?” h

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YLTNboomerang

There we go, Bloomberg article calling Vancouver as second most expensive city after Hong Kong, first article that came up on Bloomberg:

http://www.bloomberg.com/news/2014-01-20/hong-kong-vancouver-least-affordable-home-markets-survey-shows.html

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paulb

New Listings 309
Price Changes 87
Sold Listings 105
TI:12640

Contact me anytime with any real estate questions. http://www.paulboenisch.com

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space889

arrr….I meant to say “argument about lack of skilled workers bogus”, not “bonus”

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space889

@Snake – I find the argument about the lack of skilled workers bonus when right near the end of the article it says there are hundreds of graduate students doing part time jobs due to lack of jobs. As well as the fact that companies aren’t willing to pay up for the talents (local and foreign) they need. The problem is really to fix – pay more like on par with Seattle, and actually train people. How do you expect people to have minimal 5 years of working experience if no one will hire anyone withou 5 years work experience? Just yesterday I heard on the radio that Jim Flarty is complaining about the lack of training Canadian companies provides to employees. Frankly this problem these companies are constantly complaining about are exactly the end result of being cheap, cheap,… Read more »

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Who's at the wheel

Jack up the price of housing with cheap money……
Let the dollar drop by not raising rates which makes imported goods more expensive and
makes aformentioned housing cheaper for foreigners to buy while retaining
cheap money which……discourages saving.
Where am I going wrong?

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Softy

“As many of us know, RE in Vancouver is a big lie,”

Real estate is not a lie. Real estate is “real”, as the name suggests. Moreover, falt, super high prices are also real. They have been real for 5 years for condos and this is year 3 for houses.

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Son of Ponzi

@79
As long it has granite countertops the wifey can hug every morning, it’s o.k..

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Deja Vu!

Royal Bank “quietly” cuts mortgage interest rates.

Discuss amongst yourselves.

http://www.theglobeandmail.com/globe-investor/personal-finance/mortgages/royal-bank-quietly-cuts-mortgage-rates/article16402627/

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Son of Ponzi

#76
personally, I don’t come to this site for facts.
Anecdotes, rumors and the occasional lie are just fine with me.
As many of us know, RE in Vancouver is a big lie, perpetrated by Realtors and Developers.
So some of us, are just fighting fire with fire.

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Snake

Small Spaces: A 290-Sq-Ft Home for Two

http://www.hgtv.ca/photos/gallery/?gid=44cf0be42fb37d2dbb812bf08be20818#!/0

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kabloona

“Faux-rrari”…..love it. 😉

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Snake

B.C. Held Back by Few Jobs and Even Fewer Workers warm beaches and ski resorts are no longer enough to attract the talent the province needs to build a strong economy

http://www.bcbusiness.ca/your-business/bc-held-back-by-few-jobs-and-even-fewer-workers?utm_source=MagMail&utm_medium=BCBusiness+Newsletter&utm_campaign=BCBusiness+enewsletter+20Jan2014

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patriotz

@74:

I thought insurance companies will only pay out to rebuild in such situations, precisely to discourage owners from burning their own properties down.

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Son of Ponzi

@74
Fake Ferraris, Fake Asian Buyers, Fake McMansions.
Connect the dots.

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BWilson

Anyone else think this fire seems a bit suspicious in light the home was on the market?

Could it be that an insurance claim will provide the liquidity the owner needed:

http://www.vancouversun.com/news/Fake+Ferrari+erupts+into+flames+blaze+destroys+waterfront+home/9406176/story.html

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Son of Ponzi

I always thought that Lawers make bad politicians.
But this proves, Economists are worse.

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