Just a rough summary:

The Canadian economy is sliding, mostly because of ridiculously high debt to income levels for canadian consumers. This is driving the looney lower and generates a high risk of rising interest rates in the near future.

If you have short term debt and are stretching… might be a time to look at changes. Either lock in a longer interest rate at current low rates or get out while house prices are near record highs? I dont know, this advice is worth what you paid for it.

The Comox landlord has it worse than he thinks. $326 mortgage payments biweekly is equivalent to $706 per month, not $652. So he is $54 per month worse off than he calculates. Why doesn’t he sell his rental condo?

.

You are going to be flooded with rich international students who are going to buy property, displace your kids from getting an education, and try to get PR any way they can.

Oh wait, they are coming here for the education….hahaha

B.C. residents owe much more than the rest of Canada
Life and debt in B.C.: Sandwich generation finds that extravagant habits don’t add up
Life and debt in B.C.: Many young people are thinking of fleeing the province to get out of hock
Life and debt in B.C.: Over-55s feeling a heavy burden

https://www.google.ca/search?q=SUSAN+LAZARUK%2C+THE+PROVINCE&oq=SUSAN+LAZARUK%2C+THE+PROVINCE&aqs=chrome..69i57&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8

If it was my money I was lending out, I would charge substantially higher interest rates to people who were heavily in debt relative to their income. As it is blatantly obvious to anyone not enthralled by the ‘housing always goes up’ mantra that it is much more likely for such a person to get into financial difficulty.. eg.. divorce, job loss, disability of one of the couple, declining business income etc.

Instead our banks have chosen another path, charging amongst the lowest rates on mortgages in the history of Western civilization.

@aa4, they can do this because they are pushing all of their risk on to Canadian tax payers through CMHC. Nice system we have, isn’t it?

How much do you need to retire? Rich British Columbians say they need at least $2.3 million

http://www.vancouversun.com/news/much+need+retire+Rich+British+Columbians+they+need+least+million/9399673/story.html#ixzz2qgRY3bGo

“The majority of respondents among the affluent — 70 per cent — expected stocks to generate the most solid returns over the next five years, well ahead of real estate, bonds and cash.”

Interesting. This opinion contrasts with the RE bulls of this board. Is it a logical inference that the RE bulls here are not affluent? Yet they keep dishing out “buy buy buy” advices like it’s now or never.

The water mains in Richmond are 60 years old and are bursting.
And still they build like there is no tomorrow.
http://www.richmondreview.com/news/240579251.html

@Son of Ponzi,

If you think Greater Vancouver’s infrastructure is crumbling, I’d encourage you to visit Montreal. We could redirect all maintenance funding directly to organized criminals and it would still take 20 years to “catch up.”

(…although when it comes to Translink, it seems like the BC Liberals are trying to fast-track the process.)

@turkey.
The Economists estimates that Canadian Municipalities have about 280 billion in aging infrastructure that are in need of upgrading.
the reason why I’m pointing out Richmond is because I live here and all these new highrises build on a floodplain on top of rottening infrastructure seems insane.

Low morale runs rampant for City of Vancouver employees: survey

Employees feel stressed and overworked, results reveal

Read more: http://www.vancouversun.com/business/morale+runs+rampant+City+Vancouver+employees+survey/9392422/story.html#ixzz2qhOnjmFM

#15

Do what the rich do, and not follow those who are indentured.

Just finished reading “The Buy Side, A Wall Street Trader’s Tale of Spectacular Excess”.
Fascinating story.

http://i45.photobucket.com/albums/f58/thehago/chinky.gif

The comox landlord sounds like a genus!

I’m a bear but I think the Comox landlord is actually doing fine.

Each month, he is putting $40 as an investment into a condo and his tenants are putting in a few hundred into his condo for him (I have no idea if he bought the place last year or twenty years ago.)

There are subtleties (the lost opportunity of his downpayment, the risk of the house losing value, etc.) but this is not a dramatic case in either direction.

There have been articles questioning the soundness of the Canadian housing market for the past 5 years, and rightly so. However without a doubt the amount of negative international attention directed at our housing market has picked up significantly in the past 6 months.

vancouver is defined by it’s colonial mentality.

We are 12,000 listings less than 3 weeks into 2014. Does this mean we will be at 24,000 In less than 6 weeks? If so, this is going to be a crazy crash.

If I am going to get downvoted for my comment on the Comox Condo, does anyone care to explain to me how he is in a bad situation?

At $40/month, he will invest $12,000 over 25 years (plus his downpayment,) and will end up owning 100% of a condo unit.

….I’m a bear but I think the Comox landlord is actually doing fine…..

I have large sum of money to invest and would like to realize some significant ongoing losses. Would you be kind enough to provide me with some advice?

…..“Canada Has Its Own Housing Bubble—And It’s About to Burst” Jan 17, Time…..

And they’re referring to Canada in general! When Vancouver bursts, the detritus is going to land in the prairies.

TTFN suckers!

……It is worth noting that of the 64%, only 15% are looking to give up their Chinese nationality, with the majority looking to a permanent residency overseas.

Emigration Destination
1 United States
2 Europe
3 Canada
4 Australia
5 Singapore
6 Hong Kong

So, there’s a whack of rich Chinese that want permanent residency overseas in Hong Kong? Riiiiiight! I’m so pissed off at Canada I’m considering moving offshore to Vancouver Island. Why can’t we get smarter rich people wanting to move here? 🙂

How do we get this too?

Speak English or lose benefits!

http://www.dailymail.co.uk/news/article-2541892/Speak-English-lose-benefits-Cameron-stop-payouts-immigrants-use-taxpayer-funded-translators.html

#46
what’s wrong with expecting immigrants to have some basic English skills.

167 open houses in Maple Ridge !!!
And it’s not even spring.
Sellers are tired of 2 hours commute and no prospect of Skytrain to

Another ESL challenged Realtor in Ditchmond.
MLS listing V1042386
________________
First time homebuyer alert!! Nicely kept and renovated 2-storey townhome in Woodwards!! This unit functions practical layout with three bedrooms and one bathroom on above and kitchen, living room, dining room and powder room on main. Right beside reputable Steveston-London Secondary School and bus stops. Few mins drive to malls and community centre. Quiet but not far!! Strata fees even include annual city utilities!! This is where you wanna raise your children. Searching no more. Call now for your private showing!!!

How can Realtors with limited English get a License?
Another example:
-____________
Astoria, locate near Blundell and Heather St. Quiet inside unit with 9′ high ceilings on main floor. 3 bedrooms up and 2 bathrooms. Well managed complex with a spacious playground for kids. Spacious tandem parking where owner has built in big shelves to keep stuff. Well keeping by original owner. Walking distance to Garden city shopping mall. Debeck elementary and Palmer secondary. A pleasure to show. All measurements are approximately. Buyer to verify if important.