FFFA! Debt! RRSP! Cars!

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!

Sort by:   newest | oldest | most voted
kabloona
Member
kabloona

Stephen Harper, CFP® (status pending…)

😉

“Need investment advice? Ask Harper”

http://ca.finance.yahoo.com/news/need-investment-advice–ask-harper-211724887.html

This part had me in stitches, I must say….

“Canada’s high level of household debts, Harper said in 45-minute interview, which was posted to SoundCloud, are largely because so many Canadian have taken advantage of historically low interest rates to buy homes and cars. Given that mortgage rates have in recent times fallen as low as 2.99 per cent and car loans are often interest-free, he says, Canadians are making what “I, as an economist, would argue is a rational decision to borrow more.”

Get out there and SPEND, SPEND, SPEND!!! Dear Leader has spoken!!

😀

Dave
Member
tedeastside
Member
tedeastside

if your biggest company is 1-800-got junk, you know your economy is in the stone age

Harry Wang
Guest
Harry Wang
Randy Randerson
Guest
Randy Randerson

@62
The narrator was describing the difference in cost between renting for $26k a year, vs paying purely the interest on the mortgage plus tax and expenses. Some people’s mindsets are so narrow that buying a house is their main goals in live.

RealityCheck
Guest
RealityCheck

Just checking on the groupthink going on at this micro blog.

FYI, the Fed gov is doubling the number of Intl students. Another 50,000 or so for Vancouver. The super rich will get parents to buy houses…the rich will rent.

Will check up on you guys next Sunday.

Snake
Guest
Snake
Snake
Guest
Snake
tedeastside Says: welfare abuse by immigrants is Legendary in London, almost the entire third world is on UK Benefits, if it wasn’t for London, Vancouver would be ground zero, but there’s still massive abuse in Vancouver too ———————- How so ? Go hang out on around main & Hastings at 2 am in the morning of welfare day, the banks around the area have a line at up 2 am because people get direct deposit at that time of the night. i am sure they are grocery store open at that time of the night to service these people or they are getting the money to hit the pipe? Do u see immigrants lining up that time to buy drugs now you tell me me whose abuse it more ? Do yo know on that day of welfare and the… Read more »
Snake
Guest
Snake

Lou Says:

Can someone tell me the sold price for 8064 19th ave Burnaby and when? Thanks in advance.
————————

8064 19TH AVE BURNABY V5K 3V9 16/Jul/2013 $815,000

Snake
Guest
Snake

1)Shopping Gets Cheaper in B.C

http://www.bcbusiness.ca/retail/shopping-gets-cheaper-in-bc

2)Investors have never faced more confounding markets: stocks defied traditional wisdom last year by soaring despite sluggish economic growth, and interest hovered near zero— for yet another year.

http://www.bcbusiness.ca/finance/hanif-mamdani-rbc-global-asset-management?utm_source=MagMail&utm_medium=BCBusiness+Newsletter&utm_campaign=BCBusiness+enewsletter+17Jan2014

3)Demand Outpaces Supply of Vancouver Office Space

http://www.bcbusiness.ca/real-estate/demand-outpaces-supply-of-vancouver-office-space?utm_source=MagMail&utm_medium=BCBusiness+Newsletter&utm_campaign=BCBusiness+enewsletter+17Jan2014

patriotz
Member

61:
First comment:

If the difference between buying a house (paying 41.5K/year) and renting (paying 26K/year), then the difference is 15.5k/year more if you buy than rent. However, after 30 years, don’t you get to keep the house? So you pay 15.5*30 more but in 30 years for the result that you get to keep the house? Then you sell the house for 1 million and net a profit? I still don’t understand why renting is cheaper in the long term.

The song remains the same.

Newcomer
Member
Newcomer
condo_day_ftw
Guest
condo_day_ftw

@59 Agreed. 🙂 Does anyone know if there is any way to fact check just how many helicopter flights (of any kind) there have been over White Rock in the past year?

southseacompany
Member
southseacompany

@ 58

No, but there are really that many people who can be fooled into believing that they will be priced out by asians in helicopters and that Van real estate will never go down because of those same supposed asians in helicopters.

As the market slows, the re industry is still working on that shtick.

condo_day_ftw
Guest
condo_day_ftw

Are there really that many people out there rich enough to buy real estate by helicopter and too stupid to use Google Maps?

southseacompany
Member
southseacompany

Oh, no. Helicopters over White Rock are back;

“Sleepy White Rock, B.C. catches the developer’s eye” Globe & Mail, Jan 18/14

http://www.theglobeandmail.com/life/home-and-garden/real-estate/sleepy-white-rock-bc-catches-the-developers-eye/article16387138/

News or real estate advert? You decide.

“Mayor Baldwin recalls daily helicopter flights during the past year – Asian buyers circling potential properties.”

Will the helicopter meme never die?

Mick Murphy
Guest
Mick Murphy
Lou
Guest
Lou

Can someone tell me the sold price for 8064 19th ave Burnaby and when? Thanks in advance.

George
Guest
George

@ Johnny-boy #52

You said: “As to London the most of the Welfare recipients are coming Eastern Europe… is that Third World?”

The term “Third World” does not have a single, precise definition. It can be different things in different contexts. However, without making things too complicated, the answer to your question is yes, many Eastern European countries can be considered Third World. The label “Third World” can be and has been applied to Eastern European countries like Albania, Belarus, Romania, and parts of Russia at various times. “Third World” does not necessarily mean non-European and non-white.

patriotz
Member

@47: “what’s wrong with expecting immigrants to have some basic English skills.”

They are, in the case of independent (skilled) immigrants anyway.

Family class immigrants are sponsored and the sponsor is responsible for supporting them. If they’re getting away with not supporting them, the government isn’t doing it’s job. Also I don’t think we should be bringing in parents and grandparents in family class anyway.

I don’t think many investor class immigrants are ending up on welfare, but in any case I think we should get rid of it too.

As for the situation in the UK, the people described in these articles aren’t immigrants as we use the term, but EU citizens who have the legal right to live in the UK.

Johnny-boy
Guest
Johnny-boy

51 most of the addicts and pan-handlers on the street seem home grown. When I visit a nursing home I see only Phillipinos looking after the old residents.

As to London the most of the Welfare recipients are coming Eastern Europe… is that Third World?

http://www.economist.com/blogs/blighty/2014/01/romanian-immigrants

http://www.ft.com/intl/cms/s/0/75f9ffb6-7a0c-11e3-a3e6-00144feabdc0.html#axzz2qphpvIno

Facts often get in the way of our opinions.

tedeastside
Member
tedeastside

welfare abuse by immigrants is Legendary in London,
almost the entire third world is on UK Benefits,

if it wasn’t for London, Vancouver would be ground zero, but there’s still massive abuse in Vancouver too

Son of Ponzi
Guest
Son of Ponzi

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.

Son of Ponzi
Guest
Son of Ponzi

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!!!

Son of Ponzi
Guest
Son of Ponzi

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