FFFA! gas, bubble, soft landing

Well here we are, the end of another week.

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:

Russia/China shakes up LNG market
No housing or mortgage crisis
Overdue for a full blown correction?
CMHC: get ready for soft landing
Rennie: focus on old people
Millenials richer with more debt
Greatest RE bubble not done bursting

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

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Dick
Guest
Dick

The 3 styles are the same as mentioned in solid hardwood flat
‘ sawn, rift ‘ sawn and quarter ‘ sawn. The flooring is attached
to the subfloor with 2″ nailing cleats. Other healthy options include cork tiles or real linoleum.

Feel free to surf to my website Hardwood Flooring (https://storify.com/PremiumHardwood/hardwood-flooring-canada)

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[…] problems start at home -Condo battle -Affordable New York -As long as rates stay low.. -Yellen driving our market? -Salaries to buy in 25 cities […]

Charissa
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Charissa

Saved as a favorite, I love your site!

Here is my web site; wedding favors

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

@178

catonese is spoken by short, ugly people who eat gross things and are responsible for SARS.

mandarin is a noble language spoken by noble people.

bestplaceonearth
Guest
bestplaceonearth

5 years fixed below 3%? what happened to the silly-bear-armchair-economists’ saying ” interest rates have nowhere to go but up”. put your heads back to you-know-where they belong, please!

Snake
Guest
Snake

Scotiabank offers 2.97% five-year rate

https://www.google.ca/search?q=Scotiabank+offers+2.97%25+five-year+rate&oq=Scotiabank+offers+2.97%25+five-year+rate&aqs=chrome..69i57&sourceid=chrome&es_sm=93&ie=UTF-8#cr=countryCA&q=Scotiabank+offers+2.97%25+five-year+rate&tbs=qdr:d,ctr:countryCA

Snake
Guest
Snake

Royal Bank offers real estate agents mortgage referral fees

https://www.google.ca/search?q=Royal+Bank+offers+real+estate+agents+mortgage+referral+fees&oq=Royal+Bank+offers+real+estate+agents+mortgage+referral+fees&aqs=chrome..69i57j69i64&sourceid=chrome&es_sm=93&ie=UTF-8#cr=countryCA&q=Royal+Bank+offers+real+estate+agents+mortgage+referral+fees&tbs=qdr:d,ctr:countryCA

Snake
Guest
Snake

Bull! Bull! Bull! Says: May 27th, 2014 at 12:03 pm 147
Learn mandarin, grow your business, then take it to other cities in NA targeting rich Chinese.
————————————

Learn Mandarin ,Cantonese a dying language – how can this madness be stopped?

http://forums.redflagdeals.com/cantonese-dying-language-how-can-madness-stopped-1485928/

Snake
Guest
Snake

space889 Says: May 27th, 2014 at 4:04 pm 154
@Snake – Fox Den?? Based on their advertising seems like the largest escort service in town. Surprised these type of services never ever get busted by police, even though it’s obvious what they do??
—————————————–

Why BUST them when you can BANG them for free ,motto of the VPD & RCMP

Royce McCutcheon
Member
Royce McCutcheon

@167,173,etc.: You’re asking people to prove you wrong on numbers that you yourself have provided no reference for? You’re claiming you have no time for people who may AGREE with you on the TFW issue (at least on some points) because they have an agenda when they call you out for not supplying a reference?

For the record, this is my position: the TFW program is abused, doesn’t seem constructive for this country, and is not something I support.

Son of Ponzi
Guest
Son of Ponzi

From A.Shuchat’s blog:
…..ready to pop.

5331 Jaskow Dr. which was purchased for $1,300,000 in February of 2011 has just come up for sale as a court ordered foreclosure and is listed at $1,158,00,  The neighbouring property was sold for less than $1,000,000 in  2013.  Recent sales in the neighbourhood have come in below the $1,000,000 mark as well.  It does not bode well for this situation and there are a good many more like this one, ready to pop….

Son of Ponzi
Guest
Son of Ponzi

#173
just like an iceberg.
Only 1/3 is visible.

@Patriotz
Guest
@Patriotz

http://www.cicnews.com/2009/07/children-temporary-foreign-workers-alberta-ontario-apply-open-work-permits-07735.html

Same goes for spouses. You can Google that for yourself. I got no time for people with agendas.

For the other people, spouse can get something called Open Work Permits. They can apply for any job and are not counted as TfWs.

Hence the 700,000+

Patriots, I’m surprised you ask for data yet if you search ‘spouses of TFW ‘ , you readily find this info.

@Patriotz
Guest
@Patriotz

Where do I get the info from?

Why are you so shocked. You’ve been conditioned to accept that there are 338,000 TFW in Canada. What about their spouses and kids? Ever thought about that ?

Here is what you should do today. Call your local school board office’s international ed department and simply say you are a TFW and want to register your kid there. No fees and oh, ask how many other international students are there.

Or you can call immigration canada.

George
Guest
George

A sample of the attitudes of young Chinese people in China regarding Tiananmen Square. This is interesting because this is the demographic that is coming to Canada as international students. From the Globe and Mail: “Young is 19 years old, the kind of bright young face who gets picked for glossy campus brochures… Many of those protesters once inhabited the very campus Young, and a new generation of very different students, now stroll. Had he been in charge he would have ordered them shot himself, he says. “I would probably have chosen to do the same,” says Young… today’s students say they believe that perhaps their predecessors should have stayed home. “It’s Tiananmen Square. It’s not a park or a garden,” says one. “So you shouldn’t sit there.” … “Now we don’t care. That’s far from us,” says a 21-year-old… Read more »

tedeastside
Member
tedeastside

if u run into people from your grad class in Vancouver its embarrassing to admit you still live in vancouver……since anyone who stayed in vancouver is in a crap job and everybody who left has a great job

patriotz
Member

Temporary foreign worker ban will hurt tourist trade, restaurateurs warn
It’s a crisis, I tell you! A crisis!

Liberal Leader Justin Trudeau noted that Mr. Kenney recently expressed concern that Canadian wages have barely kept pace with inflation, yet his department approves requests for foreign workers at minimum wage.

“When will the government reverse its wage-suppressing policies and fix its broken program?” he asked the Prime Minister.

The first step in getting the right answers is asking the right questions.

patriotz
Member

@167: “There are an additional 350,000+ sposes/children of TFW’s in Canada”

Where do you get this from? I’ve never seen an example of TFW family members in the media (admittedly unscientific), and I don’t think employers want them in the slave camps (“accommodation”) they set up for their TFW employees.

Just in case you don’t read other posts I am dead set against TFW but I like to back up arguments with facts.

THE NEW STATSCAN
Guest
THE NEW STATSCAN

Some facts you wont find in Corp controlled Media.

There are over 350,000 TFW’s in Canada. There are an additional 350,000+ sposes/children of TFW’s in Canada (This stat is conveniently omitted all the time).

YOU pay the healthcare costs of all these people (700,000+)

YOU pay the education costs for the children (not charged an international student fee).

YOU pay for higher rental/housing costs as more competition…

YOU get lower wages as a result….

Now, prove me wrong!

UBC in crisis mode
Guest
UBC in crisis mode

Australian first home buyers forced out

There are concerns that foreign interest in Australian residential property is pushing up prices, making it harder for local first home buyers to enter the market.

A recent study by property research group Knight Frank, places Australia fifth among the world’s most overpriced housing markets.

A property market is deemed correctly valued when local incomes are just high enough to buy or rent an average property.

By that measure, Australia sits only below Norway, Canada, Belgium and New Zealand.

Senior Economist with Australian Property Monitors, Dr Andrew Wilson says recent growth in some Australian capital cities can’t continue.

“We’re starting to see some early signs of affordability barriers starting to emerge in the market,” he said.

“We’ve had very strong prices growth in Sydney over the past 12 months and this really is unsustainable.”

http://www.abc.net.au/news/2014-05-26/chinese-investors-drive-australian-property-boom/5478392

Joe Mainlander
Guest
Joe Mainlander

And meanwhile Sino-side;

“China’s Property Slump Worsens. Government Tries to Help but Buyers Hold Back”, Wall Street Journal

http://online.wsj.com/news/articles/SB10001424052702304811904579587703953556462?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304811904579587703953556462.html

Joe Mainlander
Guest
Joe Mainlander

Greater Toronto pre-sales down 19% since last year and 51% since two years ago;

Toronto Condo Bubble blog, “GTA Pre-Construction Condo Sales Declined 19%”
http://www.torontocondobubble.com/2014/05/gta-pre-construction-condo-sales.html

Joe Mainlander
Guest
Joe Mainlander

@159 Since sales over $2 million amount to 5%-10% of all sales, then sales in the $4-$7 mil range must be a minuscule %. Not significant. Tell me when the 90% of sales below $1 mil move significantly price wise. Then that is news.

Yunak
Guest
Yunak

Hi Christy, why is your chequebook out for the private school system? I’m a little confused why you were able to increase funding for those schools but not public schools. Is that because your son attends a private school?

Not really, but rather that new Mainland elite send their kids to those schools and we want them to feel welcomed in every possible way so they can come over in even bigger numbers and invest even more money in Vancouver RE.

http://www.vancouversun.com/touch/story.html?id=9876692

patriotz
Member

@156: “Are you suggesting that any of the parties, if elected, would truly alter the status quo in any meaningful way?”

I don’t see how anyone could read that into what I said. If, as I said, most of the electorate wants continued high RE prices, how would a party that promised to bring them down get elected?