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Oracle
Guest
Oracle

Vancouver detached prices hit a new record high last month.

Illegal china money outflows hit a record $1.08 Trillion in 2013. Source Blomberg.

Canada keeps accepting the highest number of immigrants per capita in the world. Includes all the new categories such as IMP, ICT, IEC, etc.

VultureBoy
Guest
VultureBoy

Georgia Straight’s Best of Vancouver is open for voting. A good chance to support the best realtor Paul Boenisch !

George
Guest
George

We’re on the “cusp of a seller’s market”. From the Vancouver Sun:

“Ray Harris, president of the Real Estate Board of Greater Vancouver, said that in June, the competition among buyers “is as strong as it has been in the region since 2011.”

He added that with two months now where overall sales have equalled more than 20 per cent of homes available in the inventory (for June the ratio was 21 per cent), Metro Vancouver is “on the cusp of a seller’s market.”

http://www.vancouversun.com/business/real-estate/Drop+mortgage+rates+giving+boost+housing+market/9996912/story.html

George
Guest
George
City of Vancouver is designating pretty large areas of the City around False Creek, English Bay and the Fraser River as a flood plain. You’d think that would bring real estate prices down, right? Article in the Vancouver Sun explaines the flood plain designation is going to **increase** real estate prices as the cost of construction will be higher in order to build homes better able to withstand floods. Only in Vancouver does re-designating an area as a flood plain lead to an increase in real estate prices. The effect on real estate prices is addressed right in the headline: “Prime Vancouver property designated flood plain City proposal aimed to prevent future damage may increase new home prices”. There is very little talk about the technicalities, why the by-law is changed, what the flood risk truly is–half the article is… Read more »
Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

“Hams are not staying. I have purchased cars, dinning table sets, television, etc off these Hams right after they’ve got their citizenship papers and they are leaving as fast as they can, back to their homeland. We’ll not see them again until the day they require a heart bypass surgery. I hope Canada wake up soon and get tough.”

They don’t even wait for their citizenship before they go back. Which is why Canada is going ti start sharing entry exit info with China.

I don’t see Canadians winning due to their naive and trusting nature. Which is why I am learning Mandarin.

OV
Guest
OV

Costco shoppers use gift cards to avoid membership fees

http://www.cbc.ca/m/news/#!/content/1.2695675

This is a significant problem in city’s like Vancouver where there are a lot of cheap people who find any loophole to game the system.

southseacompany
Member
southseacompany

Financial Post; “Even economists say they continue to be surprised by Canada’s housing market”

http://business.financialpost.com/2014/07/03/even-economists-say-they-continue-to-be-surprised-by-canadas-housing-market/

patriotz
Member

@4: “Article in the Vancouver Sun explaines the flood plain designation is going to **increase** real estate prices as the cost of construction will be higher in order to build homes better able to withstand floods.”

The article is wrong of course, RE prices are determined by how much buyers are willing to pay, not construction costs.

If the latter really mattered Vancouver would have the lowest prices in the country as the shabby construction is obvious.

What the flood plain designation will actually do is decrease the land value.

kabloona
Member
kabloona

@7: Article: “Even economists say they continue to be surprised by Canada’s housing market”

“…Interest rates, unexpectedly, reversed course beginning in March. Five-year mortgage rates currently sit at their lowest level on record,” Ms. Petramala wrote…..”

Mystery solved.

😉

NOM NOM NOM
Guest
NOM NOM NOM

This is a video from Freakenomics that discusses the fundamentally flawed relationship that real estate agents have with their respective clients.

http://www.boreme.com/posting.php?id=40438#.U7bGFbHaZyU

One of my favourite lines is:

“It’s not that real estate agents are bad…Its just that they are human beings and human beings respond to incentives.”

This may be a fair comment, however, should there not then exist a system of checks and balances where by the unscrupulous actions of a real estate agent, and his or her company, be met with DISincentives for said behavior (referring to the ceremonial punishment the followed MACgate)?

Oracle
Guest
Oracle

George, it goes like this..

1. Please buy OV condos.

2. Designate land flood plain.

3. Roads are below grade and nothing can fit under viaducts so tear everything down.

4. Owners of flase creek land can build new roads and whatever they like.

5. Who bought the OV condos? 😉

southseacompany
Member
southseacompany

@#9. At least someone is giving credit whee credit is due;
“Drop in mortgage rates giving boost to B.C. housing market”

http://www.vancouversun.com/business/Drop+mortgage+rates+giving+boost+housing+market/9996912/story.html#ixzz36VyxBVVd

Oracle
Guest
Oracle

BREAKING:

Refugees to get healthcare paid by taxpayers. Even those who skipped 3 countries to get to Canada on their way here. Lol

Next challenge will be and temp residents can get free healthcare. People are going to visit just to get free healthcare.

Canada really is becoming the laughing stock of the world.

Many Franks
Member
Active Member

HuffPo on BIS on Canadian banking: A Canadian Banking Crisis? ‘Early Warning Indicators’ Flashing, But Don’t Panic

The Bank for International Settlements (BIS) has identified Canada as one of a handful of countries whose economies are flashing “early warning indicators” of a banking crisis.

A new report estimates that credit has been growing about 5.6 per cent faster per year in Canada than it should be, given historical norms.

This is a problem because “credit extended during a phase of rapid credit growth could conceal problem loans, leading to financial instability when the boom turns to bust,” the BIS says.

Ray
Member
Ray

@ OV#6: Not really surprising. This went viral on social media (Facebook) just the other day. See #3 for unethical life hack on Costco. http://www.mobilelikez.com/funfacts/16-unethical-life-hacks-to-get-what-you-want/page/14/?uid=crazynepic

LOL
Guest
LOL

@3 and 4 george

You seem to take a realtors assessment of the market and real estate developers assessment of how the flood plain changes will impact pricing serioulsy. Laughable.

Realtors will always predict change.
Cliams of a buyers market coming is telling people to list their place now before that happens. If they predicted flat prices with no changes people would have no incentive to buy or sell.

For the developer to state coming change will increase prices is nothing new. In other words better buy now before prices go up.

Cant believe people take this seriously.

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

the flood plain report thing is just the city trying to get cash from the feds for ‘climate change’.

they are creating ‘evidence’ to support their arguments for cash.

bestplaceonearth
Guest
bestplaceonearth

how are the miserable people doing here? have you get out much to enjoy the summer on the best place on earth? hiking, camping, biking etc …or just a walk around your neighborhood?

there is nothing making you happy, isn’t there? The wash-out 2010 olympic is a best news for this city, yet you people still complaining!

Landscaper
Guest
Landscaper

Hi guys, do you know any realtor’s websites where you can search homes by school service areas? Thank you

patriotz
Member

@13: “BREAKING: Refugees to get healthcare paid by taxpayers”

As a matter of fact refugee claimants have been getting healthcare paid by taxpayers for a long time. You seem to be misinterpreting stories about attempts by the Cons to cut it back. For example,

http://www.ctvnews.ca/canada/ottawa-will-appeal-federal-court-ruling-on-refugee-health-care-1.1898922

The main argument for giving them regular medical care is that if you don’t they will eventually end up at emergency in dire shape where you can’t turn them away. Which is the same argument for giving everyone regular medical care.

Carlk
Guest
Carlk

Reply to Best Place on Earth:

I am enjoying myself here quite nicely. Here are some of the things I was able to squeeze in this spring/summer:

Italian Festival
Car Free Day Street Festival
Lots of tennis
Mountain biking
Picnic at Spanish Banks
Michael Buble Concert
A few house parties/bbqs

How about you?

Joe Mainlander
Guest
Joe Mainlander

Re; # 12 Re: Sun article ““Drop in mortgage rates giving boost to B.C. housing market””

Notice the first few words in the article; “Another healthy jump in real estate sales across the Lower Mainland…”

Yep. Prices up = healthy. Prices down = unhealthy. No bias.

Loon
Guest
Loon

FATCA (Foreign Account Tax Compliance Act) now in effect in the US.
US aiming to reach Chinese illicit outflows:

http://blogs.wsj.com/chinarealtime/2014/07/04/why-fatca-could-make-it-harder-for-rich-chinese-to-hide-their-wealth/

Canada now only looks slightly more attractive to become a resident as you can pretty much hide your money here, there or underwear (as seen at YVR).

OV
Guest
OV

someone paid money to have this done to their car…

http://i.imgur.com/WzY60XK.jpg

at least mainlanders buy fine automobiles. cantonese take normal cars and make them look like that… whatever the hell that is….

franko
Member
Active Member
franko
@ #3 The difference between that Vancouver Sun article and the buzz on Bloomberg & BNN is like night and day. The blowout new job numbers in the US yesterday is just another indication that rates are about to go up, regardless of what our politicians and realtors would like us to believe. It wouldn’t bother me at all if the next rate scare will suck in another batch of preapproved rate holders just like last year before it’s lights out for good if they’re dumb enough to take the bait. Unfortunately, the victims will mostly be young FTBs who will be trampling each other to buy the cheapest crappiest dumps still on the market. With that elusive recovery finally gaining momentum in the US, there is no way in hell that bond yields will not go up dramatically. They… Read more »
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