FFFA! ALR! Extrapolate! Citizen! banish!

Hey! Look at that!

It’s the end of another week.

Let’s get this party started!

It’s Friday Free-for-all time. This 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:

Get well Skook!
What is fair value?
-Cheapest places to buy citizenship
Do away with the ALR?
Who’s the racist?
Good investments in Canadian RE?
Some local condo incentives
Euro rates go subzero
Extrapolations for fun and profit

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

181 Comments
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Elwood
Elwood
6 years ago

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6 years ago

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6 years ago

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#thisisadisaster
#thisisadisaster
6 years ago

Son of Ponzi, was does your crystal ball say about today’s price reductions?

Barb Rennie
Barb Rennie
6 years ago

The astronomically over-priced sales in Richmond lately is unexplainable. It is obviously foreign money because not even the most stupid local buyer would over pay like this. Look up sales sales for the last couple of days. Idiotic. This may be the peak before the big drop. Or the beginning of corrupt chinese money looking for an exit.

Yunak
Yunak
6 years ago

Is the housing market finally cooling down? Sky-high prices and tough new mortgage rules curb demand for property

Not the case here…

http://www.dailymail.co.uk/news/article-2655682/Is-housing-market-finally-cooling-Sky-high-prices-tough-new-mortgage-rules-curb-demand-property.html

Billy Bob
Billy Bob
6 years ago
buy to let mortgage, commercial mortgage, life insurance, life assurance, life protection
buy to let mortgage, commercial mortgage, life insurance, life assurance, life protection
6 years ago

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paulb
6 years ago

New Listings 255
Price Changes 99
Sold Listings 176
TI:17192

http://www.paulboenisch.com

Son of Ponzi
Son of Ponzi
6 years ago

#171
Details, please.

johnyboy
johnyboy
6 years ago

Huge (IMVHO) HAM buy today. Over 7 big ones.
Lets see how much would you have to earn and pay tax on to buy a house for $7.7 Million??

Any ideas?

Yunak
Yunak
6 years ago
johnyboy
johnyboy
6 years ago

“In 2012, Wang Guoqiang, the former Communist Party boss of the small northeastern Chinese city of Fengcheng, fled China to join his daughter in the United States. With him, Wang brought his wife and a rumored 200 million yuan ($30 million) in illicit funds, according to state media reports”

Seems like the US lets in crooks too. We are enablers to worldwide corruption and graft and then our PM likes to wag his finger and lecture the naughty Russians

Janitor Yellen
Janitor Yellen
6 years ago

@166 “CMHC could be privatized” “governments guaranteeing only against catastrophic losses,” Not enough. The problem is with the Crown enacted public and private market for percent backedstopped mortgage securities in the first place. Closing the CMHC alone just means private insurers get a bigger share of Crown guarantees. It’s bad enough governments can issue bonds to keep coffers from going dry. There is no need for yet another type of Crown backed bond issuing charter they can hand out to friends. And while their at it, the Bank Act needs work to smash the useless corporate welfare Candian banking oligopoly. When that smiling piece of shit ass-hat Gordon Nixon comes on national TV to explain that RBC is so flush with cash they have to give it away to charity, you know the public is being screwed. Hey Gordo, you… Read more »

Many Franks
6 years ago

High housing costs boost inequality, OECD tells Canada: The OECD says Canada’s urban housing markets are overvalued, making owning a home too difficult for many Canadians and increasing inequality. Lest it sound like the OECD is pitying renters who didn’t get onto the property ladder, that’s not the case: But it criticizes Canada for the increasing unaffordability of housing in big cities like Vancouver, Toronto and Calgary, saying high household debt leaves families vulnerable to interest rate hikes. “Almost 40 per cent of the country’s population lives in a city where house prices are seriously or severely unaffordable,” it states. “A shock to even one segment could have spillover effects to the broader economy if banks respond by tightening credit significantly or if negative wealth effects depress consumption.” Their recommendations: “Imposing a deductible on mortgage insurance, as is common in… Read more »

d'oh!
d'oh!
6 years ago

Exhibit shows wartime link between Chinese and Jewish peoples

http://www.richmondreview.com/community/260348351.html

Egg Hunt
Egg Hunt
6 years ago

>#158 crikey

I totally agree with your comment,

>unreasonably large proportion of salary goes towards the mortgage in Vancouver

Unfortunately, big debtors are dismissing this fact from the very beginning and I doubt if they ever change the way they look at their debt.

They tend to believe all large portion goes to mortgage is
“savings” for future. Of course, real estate is always up, up and up, right?

Bull! Bull! Bull!
Bull! Bull! Bull!
6 years ago

>It won’t break the market, or course not.

then what will it do?

>But having many thousands of teachers spending a lot of time worrying about where this months bill payments come from may actually get them starting to take a closer look at what their monthly expenses look like, and what an unreasonably large proportion of salary goes towards the mortgage in Vancouver — which is not something that Vancouver home debtors are used to thinking about.

in other words it won’t do anything. well… thanks for sharing…

piper
piper
6 years ago

http://techcrunch.com/2014/06/06/productivity-and-the-education-delusion/

‘Our economy is increasingly making some people richer and others poorer. The reason is an underlying mechanic around leverage. Most people work at jobs that are easily replaceable, while a narrow group has the ability to amass larger income by leveraging their time, often through technology and finance.’

piper
piper
6 years ago

traitor # 130/131

around here, that stuff never gets old.

What ethnic group do they remind you of? Think 1930’s.
The Chinese even admit an affinity for this tribe, going back to the Silk road days.

Janitor Yellen
Janitor Yellen
6 years ago

@156. Funny how @blah-blah-blah pops up every time a plausible and significant group is identified as living head in the clouds, not a care in the world on precarious credit in BC. He sure gets worried when the Vancouver debt slave might read something that sobers them up.

LOL! Can’t blame teachers for thinking they’ve got the world by the tail though. They run a day prison/daycare for little monsters and they’ve exploited parents’ fear in the past on the threat to send them back to the parents during the day.

It is a sign of the times the public is starting to see BCTF as an extortion racket. Everyone else has finances stretched so thin, they can no longer mathematically afford to pay for any large permanently entitled and relatively overpaid group, no matter how dire the blackmail.

crikey
crikey
6 years ago

@#157: “So now it’s the teacher’s strike that is going to break the Vancouver real estate market?” You clearly never even read the post that you posted a reply to. The post said: “I don’t think this will cause any foreclosures but it may give many thousands of people a new appreciation for how stupid it is to pay current bubble prices for Vancouver real estate…” It won’t break the market, or course not. But having many thousands of teachers spending a lot of time worrying about where this months bill payments come from may actually get them starting to take a closer look at what their monthly expenses look like, and what an unreasonably large proportion of salary goes towards the mortgage in Vancouver — which is not something that Vancouver home debtors are used to thinking about. Thinking.… Read more »

cris
cris
6 years ago

Teachers who owns a house should be burned on a stick. Torture their pets as well.

blah-blah-blah
blah-blah-blah
6 years ago

So now it’s the teacher’s strike that is going to break the Vancouver real estate market?:

1. Interest rates
2. Stock market crash
3. Over-building
4. HAM

98. Exchange rates
99. TFW
100. Teacher’s Strike

Okay, got it!