FFFA! Density, Affordability, Retirement

Hey! It’s that time of the week again!

You made it to the end of another work week and that means it’s time for our Friday Free-for-all!

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

Here are a few links to kick off the chat:

Even real estate consultants hate condo towers
Crappy buildings spur inspectors retirement
home is retirement plan for 24% of Canadians
Budget uses ‘make believe’ family income
homes: Buy one get one free

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

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Rudman
Rudman
6 years ago

Always wanted to try out Battlefield 4 on PC? Super, now you can and no charge!

Charis
Charis
6 years ago

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Niche Fortune Exposed
Niche Fortune Exposed
6 years ago

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total_confusion
total_confusion
6 years ago

@144: thanks for that, great work. Your sales data is all for 2011 and 2012, but you said:

“+2% Average for 2013”

I guess you just haven’t updated the spreadsheet yet? Anyway, this is great to know.

space889
space889
6 years ago

What makes you think entreupeur class immigrants will do any better? Even if we force them to start a business, chances are it will just be small biz like beauty/massage/nail salon, small restaurants, food court, dry cleaning, etc. Small biz that can be run by family members only and doesn’t take a lot of capital. And then what happens is that once they get their citizenship, they will sell to the next entreupuer immigrant and the cycle repeats. Likely no net economic benefits or jobs.

I seriously doubt you will get an immigrants coming here and starts up a high tech venture or anything that will grow and employ 50+ employees after 5 years.

Many Franks
6 years ago

@southseacompany: “Housing to get less affordable [to anyone who views current market conditions as normal] as mortgage rates rise, RBC warns”. FTFY. Canada housing boom expected to cool, crash fears linger: Reuters poll: In the survey of 16 forecasters, eight said they were “slightly concerned” that after more than a decade of rapid increases in home prices, they may be at risk of a sharp fall. Two respondents from the sample of top property market analysts and senior economists at Canada’s largest banks said they were “concerned” while three said they were “very concerned”. Only three said they were not concerned at all. […] The five analysts who predicted outright declines in home prices saw a median 12.5 percent fall. “We think it is a housing bubble. The symptoms are overvaluation, overbuilding and excessive household debt,” said David Madani, economist… Read more »

UBC in crisis mode
UBC in crisis mode
6 years ago

# 134 2211 NO 4 RD, Bridgeport, Richmond, $359,000.00

I guess the price is still too high, so the realtor puts the photo with 90 degree rotation to attract attention ;-).

Son of Ponzi
Son of Ponzi
6 years ago

#151
sorry for the long link.

southseacompany
southseacompany
6 years ago

CBC’s Lang & O’Leary Exchange:

“Expecting a housing bust Economist Nouriel Roubini gives his bearish views on Canadian consumers and housing prices”

Video:

http://www.cbc.ca/player/News/Business/Lang+%26+O'Leary+Exchange/ID/2439260736/

Softy
Softy
6 years ago

Can anyone doubt that the market is red hot across the country?

I’m starting to expect an other mortgage tightening anouncement from some federal agency or department.

southseacompany
southseacompany
6 years ago

CBC: “Housing to get less affordable as mortgage rates rise, RBC warns”

http://www.cbc.ca/news/business/housing-to-get-less-affordable-as-mortgage-rates-rise-rbc-warns-1.2550370

Strange headline, considering easy credit has caused home prices to rise and become less affordable.

patri-ditz
patri-ditz
6 years ago

FACT, ham is meat from the upper part of a pig’s leg which is salted and dried or smoked. Spain is a major producer of fine hams. Since Spanish immigration is negligible in Vancouver market we can say with a high degree of certainty that ham has no effect on Vancouver real estate. Also, ignore those people who say I’m always wrong. I’m technically not wrong, because it’s cheaper to rent than to buy.

Bailing in BC
6 years ago

Turkey! Ham? Baloney!

With mustard on top.

U HEARD IT!
U HEARD IT!
6 years ago

U HEARD IT HERE FIRST GUYS! TURKEY AND PHILIPPINES ARE SOURCES OF HAM!!

Bailing in BC
6 years ago

Sorry that should read “check out the sales data” (tabs on bottom of page)

Bailing in BC
6 years ago

#94 total_confusion

Check out the Squamish data on the forum.

http://vancouverpeak.com/showthread.php?tid=479

Sorry it’s not up to date. I have only been collecting data in a very spotty way recently. I will try to update what I have in the next couple of weeks.

If you check out the data you will see what percentage properties are selling +/- assessment.
+3% Average for 2011
+5% Average for 2012
+2% Average for 2013

Johnny-boy
Johnny-boy
6 years ago

mls watch. And what do these investor class invest in once they get to the West? Buy a house, maybe some commercial property. That is usually it. Then off to the motherland to make the big $$$.

The studies show that the investor class have produced minimal businesses and jobs and paid very little tax. What a dumb scheme.

I would prefer replacing them completely with Entrepreneur class, who are more likely to be here to make money and not hide it.

mls watch
mls watch
6 years ago

I will surely be voted down again (?!?!) but here is one such article:
http://www2.macleans.ca/2011/01/19/youre-leaving-already/

“I think some investors are using the Quebec system as a pathway to other provinces”

Others do the same:
http://www.theglobeandmail.com/news/national/new-canadians-love-quebec-but-theyre-leaving-it/article6673482/?page=all

George
George
6 years ago

Everybody on this blog should read this: https://firstlook.org/theintercept/2014/02/24/jtrig-manipulation/ It talks about how the security agencies of US, Canada, UK, Australia and New Zealand are likely infiltrating online discussions in order to sway public discourse: “Harvard Law Professor Cass Sunstein, a close Obama adviser and the White House’s former head of the Office of Information and Regulatory Affairs, wrote a controversial paper in 2008 proposing that the US government employ teams of covert agents and pseudo-”independent” advocates to “cognitively infiltrate” online groups and website… Under the title “Online Covert Action”, the document details a variety of means to engage in “influence and info ops” as well as “disruption and computer net attack,” while dissecting how human beings can be manipulated using “leaders,” “trust,” “obedience” and “compliance”. The documents lay out theories of how humans interact with one another, particularly online, and… Read more »

patriotz
6 years ago

@136:

YVR said:

“40% of Metro Vancouvers population is of Asian decent”

which is a fact. Asia goes from Istanbul to the Philippines.

Bo Xilai
Bo Xilai
6 years ago

The exact opposite of what Canada should be doing… eliminating IIP was a good first step…

Any worse and the Brits will start posting their citizenships on Ebay…

http://www.theguardian.com/uk-news/2014/feb/25/uk-visa-sale-wealthy-bidder

Aggregator
Aggregator
6 years ago

Baidu's search traffic for "real estate" just went through the roof. Chart

If China's housing market turns, then you're going to more HAM then ever, and if that's not enough, the next big player to start moving assets abroad is Japan.

The only way to stop capital flight from coming abroad is through protectionist measures and/or more QE.

@YVR
@YVR
6 years ago

The link says 28% east and south east Asian. Not 40%. Are you so insecure that u need to argue this point?

Also, since when were Filipinos and Vietnamese HAM?

YVR
YVR
6 years ago

@131 I said Asian not Chinese. Scroll down on your own link and look at ethnic origin. In Vancouver 27% Chinese along with other Asians adds up to 40%. To people like Johnny-boy anyone who looks Asian is HAM.