FFFA! Spring Break!

Yessireee, it’s Friday again!

That means it Friday Free-for-all time, our regular end of the week news round up and open topic discussion thread.

Here are a few recent links to kick off the chat:

We’re the 39th best place to live
Don’t worry about debt
Flaherty’s ‘dangerous meddling’?
Canadian banks at risk
Did Carney damage economy?
Bye bye Fanne and Freddie

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

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[…] Ex-kitsie pointed out this story: […]


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Son of Ponzi

If the RE were supervised like the stock markets, these scoundrels would all be rotting in jail by now.
Instead, they are in bed with the local and provincial governments.

[…] Many Franks pointed out this article over at syruptrap.ca: […]


– Go home… You’re drunk


Slightly off topic, but I just read that Justice Minister Susan Anton has introduced Bill 17 (Miscellaneous Amendment Act,2014) which includes a proposed amendment to Section 23 of the Real Estate Development Marketing Act. This is the legislation that governs the marketing of real estate by developers to consumers. The amendment would make a purchase agreement enforceable against a purchaser where the developer’s disclosure agreement included misrepresentation of a material fact and the developer was not aware of the misrepresentation at the time the agreement was entered into. This amendment would remove the ability of the purchaser to terminate or renegotiate the agreement upon discovery of the misrepresentation. So… the developer can include unsubstantiated inaccuracies while still enforcing the purchase agreement against the purchaser who relied upon the misrepresentation. Of course, we all know developers would never lie.


– Asians always wonder why parents-children relationship for Caucasian are so distant and cold… the aging parents wonder why the kids never want to visit them except when they are close to kick the bucket and there is inheritance to be had…

There is need to independence and there is also finance prudence, they aren’t mutually exclusive.

Many Franks

Vancouver mayor Gregor Robertson to be torn down, replaced with condos: After a long fight with developers, City Hall announced yesterday that Vancouver mayor Gregor Robertson will be demolished to make way for a condo development. “Gregor is such a recognizable part of this city. We are all very sad to see him go and regret that we couldn’t do more to save him,” said City Hall human resources manager Deborah Swift as she watched construction crews approach the mayor from across the street. According to documents from Henriquez Parters, the developer, Robertson will be rezoned as “mixed-used residential.” If the application is approved by council, the two-term mayor will be rebuilt as a 16-storey residential tower, with commercial space at street level. “Gregor is an important part of this city’s heritage, and we plan on preserving as much of… Read more »


@Flip Flop 2 “Is it possible to create a 48 ban for anyone that has 3 foreclosed posts in 24 hours (or something to that effect)?” I really don’t like that idea. I would have been banned a few weekends back when this blog was having a contentious discussion about the IIP. Many of my posts would be voted up in the morning and then by the afternoon they would get massive down votes. Some on here noticed a pattern that comments in support of scrapping IIP that had been popular would rapidly get 50 downvotes later on. I really don’t like the idea of IP bans. We live in a world where we really don’t have free speech. This is one of the rare outlets where we can have a frank and open discussion. If you don’t want to… Read more »


The next wave will just have two boars that attack you and that’s it for that wave.
How did Skyler manage to protect the mound of cash.
Head to the left this time and run down the hall.

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Heard Herd selling

Was at city hall meeting tonight… Word ismayor Robertson is adopting mainland Chinese only if they buy overpriced Vancity real estate, and bob Peenies objects, he rather buy jetski and smuggle immigrant into Canada, he distracts CBSA ocean watch by crashing yellow helicopter full of ginseng

Heard Herd selling

I saw mayor and Peenies tonight at karate class, both were practiceing catch flys with chopsticks, Miyagi is partnering with them to sell condoms presales,

Flip Flop2


Is it possible to create a 48 ban for anyone that has 3 foreclosed posts in 24 hours (or something to that effect)?

Or just start banning these idiots. What’s the point of keeping them around?


Bull! Bull! Bull!


HAM has gone south. It’s now easier to get into the USA so that’s where they are going.


Buy high & Sell low – Getting Rich for Idiots

My wife and I love Real Estate, the problem is we love making money even more. We make some of our smartest money through buying low (and intelligently) and selling high and I am not talking about Real Estate. Shouldn’t these two go hand in hand though? After all we have always been told that Real Estate always goes up and as such the money invested into Real Estate will always go up (grow) as well.

Read on:



Here’s how it is done in West Van again and again by the ‘Developers’ Take a solid old timer with a view, for say $1.5 Million. Pull it down. Build a monster house as cheaply as possible with all the bells and whistles that HAM likes. No worries that the bell doesn’t have a clapper and the whistle is plastic. Shit construction, with the tarp paper cracked, the cheapest wood and the plastic covering flapping in window , no on even bothering to staple it down properly before putting the siding on. they are for sure a fix and repair in five years and a pull down in 15. Cost another $1 M Then list with your favorite HAM-connected realtor. BTW they can be caucasian with HAM assistants. List for $3.5 M old days. Nearer $3 M now. Hoping to… Read more »


New Listings 325
Price Changes 106
Sold Listings 173


Bull! Bull! Bull!

@Cause and effect

to suggest that immigration has zero effect on real estate is silly.

real estate agents told everyone that the market wouldn’t go down because of HAM. fundamentalist bears wanted to believe that the crash was inevitable, so they convinced themselves that HAM is a myth.

that’s why the fundamentalists can’t bring them selves to see the effect that the end of HAM is going to have on the market. no amount of evidence will convince the ham denialists.

but there is one thing we can all count on. the fundamentalist bears are ALWAYS WRONG.


@127: “So one should prove his manhood by throwing away money on hard earned after-tax dollar on rent when they can live at home for free acommodation or likely pay below market rent to their parents.”

Well that’s exactly how you proved your manhood not too long ago, except you didn’t consider it “throwing away money” because getting away from your parents was worth every penny.

But that’s back when teenagers looked forward to growing up, rather than being averse to it.


So one should prove his manhood by throwing away money on hard earned after-tax dollar on rent when they can live at home for free acommodation or likely pay below market rent to their parents. Sounds like a smart financial plan to me.

Also please don’t confuse luck with investing prowess….the last 20 years has seen some huge bubbles and just general upward trend in markets. Yes there was two big crashes but Fed came to the rescue in both cases with huge liquidity injections. Herd following have worked pretty well.

mls watch

Whatever the statistics, which we will never know btw, what matters is the urban legend is dead, and the urge to borrow money to buy overpriced properties is gone.

Cause and effect

Weather is warming now that IIP is gone. What conclusion can we draw from this? what’s your answer?

Best place on meth

“He also plans to keep investing in real estate: “My goal is to buy one condo every year.”

That’s a lot of special assessments. I hear those Toronto condos are even crappier than ours.