FFFA! Exodus, Data, Finance, Sales

Hey hey looky here! It’s the end of another work week, and that means it’s time for another 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 recent links to kick off the chat:

Housing data ‘dangerously incomplete’
Realtor Hunger Index still above average
Deputy finance minister retires
Moving to Hong Kong for better jobs
March stats roundup
Buy as many mansions as you can
Sunshine coast: 2nd worst March

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

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Anderson
Guest
Anderson

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Guest
fixie

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goclickfood
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goclickfood

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ghost
Guest
ghost

before people get overexcited about the “high” inventory – in summer 2012 we were at 20K. not sure how it ever dropped to the 14K we saw over the winter, but it’s definitely been higher than what we have now.

paulb on july 30, 2012:

New Listings 188
Price Changes 168
Sold Listings 89
TI:19351

OV
Guest
OV

US Senator, Chinese triads linked to global conspiracy

The arrest of a California senator and Chinese triad members has thrown up some troubling Canadian links

http://www.asianpacificpost.com/article/6048-us-senator-chinese-triads-linked-global-conspiracy.html

OV
Guest
OV

Former gang leader testifies in Surrey Six slayings

http://vancouver.24hrs.ca/2014/04/08/former-gang-leader-testifies-in-surrey-six-slayings

Bacon had proposed to sell cocaine supplied by Le’s Triad connections in exchange for $1,000 per kilogram of profit.

OV
Guest
OV

Richmond credit card ‘factory’ busted

http://vancouver.24hrs.ca/2014/04/08/richmond-credit-card-factory-busted

Police said the factory had links to Asian organized crime.

The student visa Chen used to enter the country initially, Ashton said, had been expired for more than a decade.

Snake
Guest
Snake

QUATTRO at 13733 107a Ave, Surrey, V3T 0B7 – http://bccondos.net/quattro

Looks like half of the building is in foreclosure or on sale anybody know what’s going on?

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

@crikey

>You’re right, nobody told anybody to buy real estate in one of those countries. Nobody.

i never said that.

>But we should listen to you when you say it, after so many false real estate prophets in every over country, representing a great many more people than live in Canada, have led people to financial ruin?

if you had bought a house in 2005 you could have could have sold it for a lot more now, or lived in it.

you would have had profits, or had the option of home ownership.

now, you have neither. enjoy the fruits of your inaction.

@VMD
Guest
@VMD

looking at your posts, it seems that you are posting the asking and assessed price. do you know what the sales price was for these? i think the sales price would be very useful.

patriotz
Member

@247: “A bank loan can’t go on title against stocks or gold or etc.”

With stocks it certainly can, it’s called a margin account.

But with gold or any other asset that can’t be put in the custody of the lender, yes it doesn’t represent real security for a loan.

crikey
Guest
crikey
For those posts above remarking about not getting loans despite their sizeable non-property title assets, the fact that its largely CMHC risk, and not bank risk, makes some sense. That said, I think there are other reasons. Consider that loaning against a property and loaning against other assets, even if equivalently valued, is very different. A mortgage is registered against the title. So it is not as if you can quietly get a mortgage on a property and then go and sell the property without the new owner/bank knowing. The buyer would see that there is a mortgage on the property, and this offers the bank quite good protection. But what about other assets as security against loans? Even if you can show the bank that you have $XXX thousands in stocks or precious metals or what-have-you, how does the… Read more »
Joe Mainlander
Guest
Joe Mainlander

@ # 17; ” all of a sudden bidding wars are breaking out on crappy houses in the 700k range. Wtf is going on?”

Maybe it’s the impending CMHC mortgage insurance payment rise on May 1. Folks trying to get in under the wire? Thought.

RealityCheck
Guest
RealityCheck

What to teach your kids:

Its not about doing well in school or obeying. Its not about physically working hard.

Its about riding bubbles to the top. The end result of capitalism is bubbles. Invest in grocery stocks!!!!

You heard it here first. After consolidation, food is going to be priced through the roof.

Seek bubbles! Forget about education and working hard.

Think about how investing in a house would of economically helped you if you bought 20 years ago in Malibu, Macau, Beiging, New Delhi, Vancouver etc.

Need I go on?

Snake
Guest
Snake

tedeastside Says:
April 8th, 2014 at 7:55 pm 235
dont forget that little hexagonal mirror over your door to keep ghosts away….i put one on my place in Orange County but all the caucasians laughed at me…..they wont be laughing when the ghost’s attack them and not me
—————————

Dreaming of orange country while living in mom sub-basement doesn’t count.By the way your post reeks of mental retardation you are not fooling anyone here.

Here is tedeastside on craigslist it is kind gross plus NSFW

http://vancouver.en.craigslist.ca/van/rnr/4386507967.html

http://vancouver.en.craigslist.ca/search/ppp/van?zoomToPosting=&catAbb=ppp&query=Michael+Epps+&minAsk=&maxAsk=&excats=

Snake
Guest
Snake
Ford Prefect Says: April 8th, 2014 at 7:37 pm 232 Snake, 228: actually banks may be that stupid. Some time ago my partner and I wanted to borrow $40k to pay our portion of an office (not much of an office). We had several hundred thousand assets, no debts but a non-existent credit record as we always paid cash. The banks flatly refused us. We eventually raised the money through a guarantor! and had it paid of within the year. ———————- I can see why the bank didn’t give any money to you,you guys didn’t have a existent credit record, they want some kind of prove of that you guys have borrowed money and paid it back or have a credit card to see how is your spending and payment history.I can have a million dollar assets with no credit… Read more »
Aggregator
Guest
Aggregator

Looks like our main provinces' total mortgages in arrears have bottomed as Canada's action plan fades. Chart

Arrears should keep rising so be on the lookout for any change in tone from Ottawa. They'll have to come up with some other scheme soon — like they always do, and so far it appears CMHC is mulling to provide risk-based insurance, ya know, even more subprimes to keep the ponzi scheme going. They may even come up with some derivatives scheme like selling credit default swaps to help fund CMHC. Oliver is experienced in this area, so I'm suspicious.

Never underestimate the government. They will always, always, always intervene. Until they lose control.

VMD
Member

4/8/14 Richmond SFH:
Sales: 7 (Month to date: 35)
New List: 17
Inventory: 791

1. 10320 AINTREE CR,McNair,Ask:$1,399,000,98d,Ax:$1,330,000
2. 8251 LUTON RD,Gardencity,Ask:$2,098,000,44d,Ax:$1,810,000*
3. 8600 DOULTON PL,Woodwards,Ask:$858,000,11d,Ax:$928,600
4. 3160 SPRINGTHORNE CR,Steveston North,Ask:$838,000,3d,Ax:$766,500*
5. 4600 FORTUNE AV,Steveston North,Ask:$739,000*,9d,Ax:$696,800*
6. 7531 WINCHELSEA CR,Quilchena,Ask:$1,158,000,2d,Ax:$901,700*
7. 3655 LAM DR,Terra Nova,Ask:$1,298,000,28d,Ax:$1,361,000
(#1,#3,#7 sold below assessed)
* = above ask or above assessed

VMD
Member

4/8/14 Van West SFH:
Sales: 9 (Month to date: 42)
New List: 27
Inventory: 834
1. 3716 W 50TH AV,South Lands,Ask:$1,888,000,53d,Ax:$1,683,000*
2. 5850 CARTIER ST,South Granville,Ask:$3,798,000,68d,Ax:$3,671,000
3. 4198 W 12TH AV,Point Grey,Ask:$1,880,000,3d,Ax:$1,864,000
4. 3199 CROWN ST,Point Grey,Ask:$2,238,000,63d,Ax:$1,878,000*
5. 3730 W 13TH AV,Point Grey,Ask:$3,580,000,3d,Ax:$2,629,000*
6. 2732 W 35TH AV,MacKenzie Heights,Ask:$3,888,000,58d,Ax:$3,502,000*
7. 2261 WATERLOO ST,Kitsilano,Ask:$1,150,000*,6d,Ax:$943,100*
8. 3869 W 34TH AV,Dunbar,Ask:$3,988,000,72d,Ax:$3,453,000*
9. 4037 W 19TH AV,Dunbar,Ask:$2,488,000,66d,Ax:$2,166,000*
(#2,#3 sold below assessed)

* = above-asking or above-assessed

crikey
Guest
crikey

@#213
“me or someone else told you to buy real estate in one of those countries? i very much doubt it.”
You’re right, nobody told anybody to buy real estate in one of those countries. Nobody.

But we should listen to you when you say it, after so many false real estate prophets in every over country, representing a great many more people than live in Canada, have led people to financial ruin?

Oh, I get it. You must be the one, the true, the Real Estate Messiah!!!

I’ll bet you can even walk on water. After all, you live in Vancouver don’t you? Lots of water to walk on, most days.

Heard Herd selling
Guest
Heard Herd selling

Housing starts and permit applications have fallen significantly, yet another wall with the writing all over it, 2015-2019 gonna be brutal

Alberto
Guest
Alberto

when people say “they have xxx liquid assets but banks don’t want to lend to them” what they mean by “liquid assets”? Cash, Stocks, Mutual Funds? Why the bank would not lent?

kabloona
Member
kabloona

Heads up:

Ben Rabidoux is scheduled to be on BNN tomorrow….. (Wednesday)

tedeastside
Member
tedeastside

dont forget that little hexagonal mirror over your door to keep ghosts away….
i put one on my place in Orange County but all the caucasians laughed at me…..they wont be laughing when the ghost’s attack them and not me