Friday Free-for-all!

It’s that time of the week again!

It’s Friday Free-for-all time!

This is when we round up recent news and have our open topic discussion thread for the weekend, so lets get to it.

CMHC looks to fill gap in research
Pipeline approved (sort of, kind of)
Biggest bubble is here at home?
CMHC to return to lower risk roots
Targeting the wealthy by an on ramp
Gay neighbours raise RE values
Wilmar estate on the block

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

Sort by:   newest | oldest | most voted
CanuckDownUnder
Member
CanuckDownUnder

Here’s something I haven’t seen before. If the lack of all 4s in a building wasn’t dumb enough, thanks to another ridiculous superstition you can forget about rooftop gardens on residential buildings, urban renewal be damned.

Rooftop gardens can represent a green hat, and wearing a green hat is a term used when a woman cheats on her husband. I guess if 44 Cuckold Lane ever comes on the market I’m scoring the real estate bargain of a lifetime.

http://smh.domain.com.au/real-estate-news/the-missing-floors-in-sydneys-tallest-tower-20140620-zsazc.html

ILoveCharts
Guest
ILoveCharts

Funny that two countries with the lowest population to land area ratios have the most inflated housing bubbles… I haven’t been able to figure that one out.

Romeo Jordan
Guest
Romeo Jordan

China property market on the slide.

Will the leeches start to hit the bid here?

I dunno, but I see a lot of bright and shiny For Sale signs in my westside hood.

Bring it. Hope the Duckett get burned (financially) .

johnyboy
Guest
johnyboy

Just announced – TFW to be cut in half next year. However who wants to bet with me that when the pipeline gets started the oil companies will say Ukranian, Irish and Mexican workers will be needed because they aren’t enough ‘skilled’ welders etc in BC.

patriotz
Member

@4: “TFW to be cut in half next year”

That’s only for minimum wage positions. No changes for other positions, where Canadians face competition for full-time employment.

So I guess Canadians who can’t find work in their chosen careers should be grateful they now have a better chance at Timmy’s or McD’s.

http://www.theglobeandmail.com/news/politics/ottawa-to-cap-number-of-foreign-workers-in-low-wage-jobs/article19255229/

New World Order
Guest
New World Order

@2 “Funny that two countries with the lowest population to land area ratios have the most inflated housing bubbles… I haven’t been able to figure that one out.”

Both countries can absorb foreign investment and immigration and have for decades. Easy credit and low interest rates is inflating housing prices.

New World Order
Guest
New World Order

@5 “So I guess Canadians who can’t find work in their chosen careers should be grateful they now have a better chance at Timmy’s or McD’s.”

What Canadian workers need is a wake up call. Time to start working harder, putting in full effort at work. Maybe people didn’t notice when manufacturing jobs were shipped over seas due to low productivity in the past. Now the jobs like construction which can’t be shipped over seas are at risk. Time for workers to pick it up so they aren’t replaced with harder workers. I would love to see TFW used as teachers. I bet the TFW would put in more than a 5 hour day for 9 months per year without complaint. Those teachers would be begging for their jobs back at half their current pay.

would-be buyer
Guest
would-be buyer

I find this website very interesting and his views on CA real estate is spot on:

http://capitalrev.com/2014/06/

VMD
Member

Remember the announcement of IIP cancellation? It’s finally in effect:

Terminated programs: Federal Immigrant Investor and Entrepreneurs
On June 19 2014, Bill C-31 became law, and applications still in the backlog of the federal Immigrant Investor Program and Entrepreneur Program were terminated.

space889
Member
space889

@Best Place on Meth – that’s some tough talk from someone who constants trumpets the killing of all Chinese and nuclear war. Who’s the scum here who wants death of billions of innocent lives and think that’s a good thing?

plus, you were the one upset at missing persecution of Jews, what do you expect others will think of that?

space889
Member
space889

Both Canada and Australia also have huge un-inhabitable landmass. There is a reason why you don’t have cities popping up everywhere and people crowds themselves into large or even mega-cities. How many of you would want to live in middle of nowhere Nunavut? Or even Sasketchewan or Manitoba where it goes -40C in winter before wind chill factor?

UBC in crisis mode
Guest
UBC in crisis mode

Finally, this tower will make Vancouver a great city?

http://vancouverhouse.ca/

Sales office opens this Saturday! (by Westbank).

space889
Member
space889

@W – From yesterday’s blog post, what’s the URL? Would be interested to read it.

Personally, if the guy has very little assets to starts with then the strategy of leverage makes perfect sense since he got nothing to lose and everything to gain. It is an asymmetric payoff and if he can borrow the money then why not? Assuming he has no issues with not paying back debts in case things go wrong.

Buying farms in Sask might not be a bad idea if he knows how to run it properly and purchase price is ok. If he grows pure organic stuff on it, add in some smart marketing and niche products, he can make a lot of $$$ selling it to China/India.

Melba
Guest
Melba

…..So I guess Canadians who can’t find work in their chosen careers should be grateful they now have a better chance at Timmy’s or McD’s….

This is really good news for Realturds – finally, openings in a career field that befits their knowledge and experience (with some training of course).

would-be buyer
Guest
would-be buyer

@ubc

I actually received an advertising/ sales package for this development at work. I have no idea how they got my name and work address (although I’m a professional and can be searched online) because I have never registered for a condo development in the past. They put a lot of money and time into this advertising as I was confused at first and thought it was for an art gallery. They must be mass advertising for this development if I received a package unsolicited in the mail. How many others have received this?

Son of Ponzi
Guest
Son of Ponzi

#15
Appears that Rennie is targeting posters on this blog as potential buyers.
With the Lee sisters gone, time must be tough.
I go and check my mail right away.
See you all at the presentation centre.
But better act fast. I’ll take the penthouse. 🙂

mac
Member
mac
VancouverHouse
Guest
VancouverHouse

@ would-be buyer:

Got one as well. Has your name or company ever been mentioned in Business In Vancouver? Suspect someone may have gone through companies from the lists. Your company address is easy to find and your name is easy if it was in the mag, on linkedin or on your corporate site.

VancouverHouse
Guest
VancouverHouse

@ would-be buyer:
Got one as well. Has your name or company ever been mentioned in Business In Vancouver? Suspect someone may have gone through companies from the lists. Your company address is easy to find and your name is easy if it was in the mag, on linkedin or on your corporate site.

UBC in crisis mode
Guest
UBC in crisis mode

#15
I guess anyone with an income > $100,000 (!?) would get one of this ad package in the mail (e.g. all the doctor’s office).

The architect Bjarke Ingels is also a big promoter for the building, mainly aimed at overseas buyers, office in the following cities:

BEIJING

BEVERLY HILLS

HONG KONG

LONDON

NEW YORK

SHANGHAI

SINGAPORE

TAIPEI

TOKYO

TORONTO

crabman
Guest
crabman

RE: Vancouver House

The developer (Westbank) has 8 projects going in Vancouver, 1 in TO and 1 in Calgary – yet they have 1 sales office in Vancouver and 4 in Asia. They also have 13 Chinese sales reps (11 in PRC and 2 in HK).

In addition, Westbank recently announced that they would be offering a maintenance service for offshore buyers. For a fee, they will run the appliances, flush the toilets, run the faucets, etc.. These assholes are doing everything they can to make it as easy as possible for HAM to buy properties and keep them vacant.

donnie
Guest
donnie

@2 “Funny that two countries with the lowest population to land area ratios have the most inflated housing bubbles… I haven’t been able to figure that one out.”
“Both countries can absorb foreign investment and immigration and have for decades. Easy credit and low interest rates is inflating housing prices.”

They’re also the two most resource-rich countries. Check out the performance of oil and precious metals lately.

mac
Member
mac
From Wesbury on yesterday’s Fed meeting Third, the Fed made some subtle, but important changes to its interest rate projection. Back in March, the consensus of Fed members said the long-term neutral level of the federal funds rate was 4%; that’s now down to 3.75%. But, in the short-term, Fed members raised their forecast for the federal funds rate at the end of 2015 from 1% to a range of 1 – 1.25%. The median forecast for the end of 2016 went to 2.5% from a prior 2.25%. In other words, the Fed hinted at lifting rates a little faster than it had previously indicated, but holding them lower over the long-run. If there was any reason for the market to cheer today, it was this less aggressive longer-term posture. This all follows our expectations that the Fed will accept… Read more »
Burt
Guest
Burt

@crabman,

This is precisely where the line with foreign investment needs to be drawn.

Its psychotic to encourage developments entirely aimed at foreign buyers, that facilitate the buyers ability to keep the units vacant.

Vacancy rates in the city are dropping, prices high as ever, meanwhile prime sites are being developed and aimed at investors who are likely to keep them vacant – and even facilitate their ability to keep the units vacant.

Son of Ponzi
Guest
Son of Ponzi

Job description:
Flushing toilets in an empty condo tower.
Too degrading for locals.
Another career opportunity for TFWs.

wpDiscuz