Household debt near record high

Southseacompany pointed out this article in the Chicago Tribune:

Canadian household-debt ratio nears record as mortgages grow

“Home sales and prices have shown unexpected strength as the lowest mortgage rates in decades spur demand. ”

“With mortgage debt rising, the economy will be exposed when interest rates rise, said Andy Nasr, senior portfolio manager at Calgary-based Middlefield Capital Corp. which manages about C$4 billion ($3.6 billion), including real estate stocks.

“The misconception is that ‘Well it’s OK because people can somehow afford it,’” he said in an interview at Bloomberg’s Toronto office Friday. “They can’t.””

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Westside Realtor


Tons of Russian money in the British properties, and above hollyburn…massive.

Iranian also.

HAM are in retreat on the Westside, winder how king before we see price cracks in east van? I bet before the end of the year….


Take this anecdote for what it’s worth, but was heading back from Chicago on Saturday and overheard a conversation on the plane behind me. One of the fellows lived in Vancouver and the other in Chicago and was visiting his sister who works here on an IT visa of some sort. The conversation, of course, revolved around real estate and the insane pricing and how she would never be able to afford etc… But the thing that I found interesting/strange was that he blamed unchecked dirty Russian money flooding the market. This is the first I’d ever heard of Hot Russian Money. Is this a thing? Or is this some US/Russia negative sentiment?


Falun Gung should be the least of your worries if China is setting up holding companies to buy real estate.


From The Province:

“Is China influencing B.C.’s politicians? Court case, CSIS documents suggest pressure to suppress Falun Gong protests”


In Vancouver, rich homeowners get richer

Headline is questionable, but the article contains actual numbers and names, something not seen too often.


I know a guy that said the Vancouver Market will start to drop any day now…and I think he is correct.

Please vote for me, I need to be right about this, I have been renting a spider-infested rat-hole since 2001…waiting for the price-drop with fingers crossed.

Landlord is knocking…oh poop, I’m naked again…


Please remember to vote!

beige and blu

The only thing kerping Canada solvent is punishing Russia with sanctions.
Take Russia out of the market and your oil, gas and nat. resources catch a higher bid.


I bet that those scumbags are already in Vancouver going to open-houses incognito.

Bo Xilai

Now HAM is buying whole condo projects… Screw retail, they’re going wholesale!

Harry Wang

Vancouver bylaw banning Falun Gong protests is ‘repugnant to Canadian values’: lawyer

come on

Which reminds me, get ready for another influx of oil $ to push up prices. A failed H&S pattern means this thing is going to one hundred.


New Listings 265
Price Changes 108
Sold Listings 149

come on

@51 Patriotz will never comprehend that commodity prices have pushed up home prices. You can pull up any commodity price chart for the last 15 years and it looks identical to home prices, but he prefers to blame the conservatives cus he’s a lefty. Most people can put 2 and 2 together by simply looking at Canada & Australia.



But that’s exactly what we’ve been saying on this board – government shouldn’t be artifically stimulating demand by guaranteeing mortgage lending.

Oh, I guess they only mean it’s “meddling” when the outcome is lower prices rather than higher.


Check out this garbage editorial from The Province:

Basically just repeats the same nonsense that Ian Gillespie recently stated in the Globe and Mail, that empty houses are a societal good in that the city receives property taxes without having people around to use services.

Of course what’s lost in that is that vacant houses or condos limits supply and thus driving up prices for people who actually live here and pay income and consumption taxes, which contribute far more to society than property taxes. In fact, high housing costs drive these people away from Vancouver.

The Province only cares about developers, because it’s developers / condo marketers that keep their lights on.


#33. Complete BS ? Natural Resources are the only thing that keeps this country solvent. You just prefer to think otherwise, because it isn’t comforting to know that after 150 years, we remain hewers of wood and drawers of water.

You can glibly dismiss “a pipeline” or “a commodity”. Focucing on the simplistic and small makes you look like you might know what you’re talking about, when in fact you don’t. You’re like every other smug putz: myopic and ignorant. A great example of not seeing the forest for the trees, pardon the pun.


@48 – Uhm…shareholders and board of director hire the CEO to do a job and is responsible for monitoring the CEO’s job performance? If you do your job for your benefits only and screw the company’s interest, how long do you think you will last in your job? The fact that most shareholders and board of directors don’t exercise control over the CEO and actually differing to their authority is not an argument for government intervention. It merely means that shareholders don’t care about long term either. If you look at more privately held companies with long term majority family holdings, the CEOs in those companies are much less likely to be short-term focused and personal interest driven than large public companies because the major shareholders are actively involved in monitoring CEO performance and what they can and can’t do.… Read more »


You guys are lost.


“I think in a true free capitalism system, it is the bank’s responsibility not the government’s to rein in lending and operate in responsible lending only.”

When in human history has this ever happened? It’s job #1 for every CEO to maximize the share price and their own compensation. If they can get rich before the house of cards collapses, they will do it every time. In fact, back before the government started regulating and insuring banks, financial panics were very common.


Reasonfirst – Yes, wrong link. Here is the correct one:

Click on the bottom right tab for “BC Migration”, then look at “Net NPR” column.


Clement stands firm on centre for communist surgeon

OTTAWA – Treasury Board President Tony Clement is defending federal spending of $2.5 million on a centre dedicated to Canadian Maoist communist, Dr. Norman Bethune.

Well if Bethune was a traitor I guess our own Federal cabinet ministers are traitors… hey maybe you’re on to something.


– actually I think in a true free capitalism system, it is the bank’s responsibility not the government’s to rein in lending and operate in responsible lending only.

As CEO, you have a fiduciary duty ensure the long term success and viability of the business you are running. That responsibility can’t be handed off to government in the name of competition and everyone else is doing it. Making less money for a decade is still better than going bankrupt…unless that’s what your shareholder want.

Either way, it is business’ responsibility, not the government.

Now if we are in centrally planned or command economy then this argument would have a leg to stand on.


So hold on…believing in communism is a sin that’s equal to traitor to Canada? I thought we have freedom of religion and political believe in Canada? And that we are past the McCarthy witch hunting era now??

And seriously, believing everyone should be equal, have equal opportunities, and rewarded equally based on their efforts is bad?? That kind of system is worse than the crony capitalism we have right now? Where your family money, power, and connections is more important to your success than your actual ability?