Open Topic

FFFA! Income, Losses, Investment

226
226 Comments

Its the end of another beautiful week and a long weekend to boot!

And that means it’s time for our regular Friday Free-for-all post, this is our end of the week news round up and open topic discussion thread for the weekend.

Here’s a few recent links to kick off the chat!

–19.8% Avg loss at Olympic Village 2011-2014
–Retirement savings at risk?
–Oliver sees no bubble
–CMHC brings risk to taxpayers
–BC buyers seek investments
–Canadian RE among most overvalued
–$1000 house
–

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
Westside Realtor
Guest
Westside Realtor
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

This sharp buying weakness in the upper end of the sfh market has every possibility of turning into a rout.

Jmho

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
patriotz
Member
patriotz
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Well I thought I had the perfect plan. Rent a nice place in a trendy part of town, and wait for prices to go down.

What went wrong? Landlord wanted to move back in. Now if it was just me I would have rented another place, but as it isn’t just me I decided to see if I could make buying work.

Had to look outside my old neighbourhood, but I found a house on a big lot, price $330,000. Taxes about $3000/year, rental value about $1750/month. Great deal? No. But one I can live with. There might be some downside on the price going forward, but what matters to me is value, i.e. ownership costs versus rent, not expectation of price changes going forward.

Hope you all have the opportunity to get a comparable deal some day. Happy Thankgiving everyone.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
patriotz
Member
patriotz
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Ottawa slow to monitor temporary foreign worker program compliance

Newly released details on the temporary foreign worker program reveal that only a handful of public servants – and for many years none at all – were assigned to investigate whether employers were following the rules.

Before 2010, not a single government worker was responsible for monitoring compliance with the program, even as about 200 federal employees processed employers’ applications to bring in foreign workers.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Westside Realtor
Guest
Westside Realtor
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Not a bad deal at all Patriotz.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Sunny SoCal
Guest
Sunny SoCal
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

oh its coming!!

“British Columbia, which has the most expensive homes in the country in Vancouver, had the worst record. Only 48% of households said they could still afford their home if interest rates were to climb by two percentage points.”

http://www.theprovince.com/business/mortgages/refinancing/What+your+mortgage+rate+went+points/6373794/story.html

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
William
Guest
William
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

A friend trying to sell in east van said he thinks he missed the peak in buying strength.

Is east van finally stalling out?

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
George
Guest
George
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

New reality show coming soon to a TV near you is called Ultra Rich Asian Girls in Vancouver:

http://www.vancouversun.com/entertainment/Photos+Ultra+Rich+Asian+Girls+Vancouver+show/10278268/story.html

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Westside Realtor
Guest
Westside Realtor
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Just wrapped up coffee with a colleague who does about 7x’s the dollar volume of my team, well placed in HAM circles.

She basically said that the flow of $ has trailed off sharply and she’s not seeing any changes to that trajectory, although she still thinks the pricing will stay firm.

On that factor, I disagree with her, but it’s just my best guess/assessment of what we are seeing (and her also), the bids are fewer and weaker than I can recall in quite some time.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Zero Down Forty
Guest
Zero Down Forty
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Patriotz bought! This must be the peak.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Loon
Guest
Loon
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@patz

330k is a steal for an sfh anywhere in the lower mainland, so I’m guessing you are looking way out of town ?

If you are not anticipating gains but downside risk in the near term, are you not an anti-speculator ?

I’m sure most buying now are anticipating downside, so why buy now ?

Back at you, and happy thanksgiving to all.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Bull! Bull! Bull!
Guest
Bull! Bull! Bull!
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

LOLOLOLOLOLOLOLOLOLOLOLOLOLOLOL!

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Bull! Bull! Bull!
Guest
Bull! Bull! Bull!
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

#9 says it all. patriotz has been wrong about EVERYTHING for as long as he has been on this site, and for all we know even longer.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Van Coffee
Guest
Van Coffee
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

#10
Clearly not the Lower Mainland with those metrics relative to rent.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Van Coffee
Guest
Van Coffee
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

and I ^^^^^^^ to Bull Bull Bull

LOLOLOLO

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Bull! Bull! Bull!
Guest
Bull! Bull! Bull!
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

patroditz lives in ontario.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
chilled
Member
chilled
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

You’re all a bunch of turkeys!!!!!

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Van Coffee
Guest
Van Coffee
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

“Patroditz”…… CLASSIC. You’re on fire.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Many Franks
Member
Active Member
Many Franks
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

@Patriotz: Congrats! I hope you’ll be sticking around here? I’d miss your commentary.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Garbage
Guest
Garbage
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

The Cat in the Hat say:

Patriotz bought. Time to close the blog.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
crikey
Guest
crikey
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Welcome to home/mortgage ownership and all it entails, Patriotz. Happy to see you join patiently on your terms.

Remember, ownership doesn’t mean you can’t believe that Vancouver is in a bubble, has fundamentals completely out of whack that is also destroying the social infrastructure. I’ve been this way all along since my first post here.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Oracle
Guest
Oracle
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Congrats Patriot ,

Poloz just announced that the next rate move might be down.

Plus the Express Entry Immigration program is set to become online in January 2015. Huge inflows of permanent workers..

Unfortunately, its all one big ponzi like everything else..

On a side note, the new BC liquor laws..unbelievable corruption. JP owns the Lib gov.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Oracle
Guest
Oracle
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

PS. Way to play the blog dwellers here. Well done.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Dave
Member
Dave
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

In all sincerity, when a voracious bear purchases, it may signal a top. Market trends often reverse at points like this.

To let you guys in on a secret, yours truly is no longer a home owner. I rent. I do have other real estate interests though.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
Van Coffee
Guest
Van Coffee
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Dave –
Smart move.
You are in Vancouver where it makes no sense to buy anything.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago
VMD@work
Guest
VMD@work
Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Congrats patriotz on the home purchase!

Bears can rent or own depending on lifestyle needs/wants and financial capability. Bears just don’t buy investment properties.

I will likely buy later next year for own residence (and no, no basement “mortgage helpers” for me. Pool table and wet bar it shall be). But I will remain bearish Vancouver RE for the next several years, i.e. I won’t buy condos here for pure investment.

You Must Be Logged In To Vote00You Must Be Logged In To Vote
4 years 7 months ago