FFFA! Election Time

Hey! It’s the end of another work week!

That means it’s Friday Free-for-all time here on VCI. This is our regular end of the week news round up and open topic discussion thread for the weekend.

Depending on when you read this, you may already know who’s mayor.

Alrighty, let’s get to the links to kick off the chat!

BC leads decline in starts
Mayor race neck and neck
All about geography and weather
BC vs Ontario economy
Former city planner says..
Ready to move to an island?

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

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CV
Guest
CV
George
Guest
George
A political party running for Kelowna city council known as TaxpayersFirst wants to flood the streets of Kelowna and turn it into a city of canals. This has got to be the stupidest urban planning idea I have ever heard. Critics are pointing out the enormous cost. I don’t know Kelowna very well. I’ve read some pretty harsh comments about it online. I’ve read that it is an urban planning mess with big box stores and a big garish casino. By the sounds of this CBC story, it sounds like the people who are politically active there, at least in the TaxpayersFirst party, don’t have a clue about urban planning. They say they want to do it to attract tourism. I can’t help but think this has something to do with real estate. They must be telling themselves, imagine how… Read more »
George
Guest
George
A political party running for Kelowna city council known as Taxpayersfirst wants to flood the streets of Kelowna and turn it into a city of canals. This has got to be the stupidest urban planning idea I have ever heard. Critics are pointing out the enormous cost. I don’t know Kelowna very well. I’ve read some pretty harsh comments about it online. I’ve read that it is an urban planning mess with big box stores and a big garish casino. By the sounds of this CBC story, it sounds like the people who are politically active there, at least in the taxpayersfirst part, don’t have a clue about urban planning. They say they want to do it to attract tourism. I can’t help but think this has something to do with real estate. They must be telling themselves, imagine how… Read more »
George
Guest
George

Bank of Canada eyes the rise of bitcoin and contemplates issuing its own ‘e-money’. Putting aside the debates about the merits of bitcoin, the sense I get from this article is that central banks are getting nervous about losing their control over currency.

http://www.theglobeandmail.com/report-on-business/bank-of-canada-mulling-potential-merits-of-issuing-e-money/article21574633/

George
Guest
George

Kelowna may soon be underwater literally. TaxpayersFirst party wants to flood the downtown streets and turn it into a city of canals, similar to Venice.

patriotz
Member

@2:

I have a hard time understanding what the article is talking about. Aside from coins and bank notes, all money is ‘e-money’ anyway. I suppose they could offer electronic deposits in the BoC itself to the public (this would be the electronic equvalent of a bank note), but I don’t see the demand.

Westside Realtor
Guest
Westside Realtor

Call with overseas client went well.

He knows that prices are being chopped in his backyard to attract buyers and appreciates that wee need to do the same here to address current market conditions.

We’ll be cheaper than the comps, so this should be fruitful.

At this juncture, I would rather lead the comps down in search of a buyer than have others do the same and force me to reduce even more drastically.

Prices are falling in the sfh westside market. Soft market to be sure.

More weakness lies ahead, imho

WSR

George
Guest
George

Business Council of BC is calling on the BC Government to embark on a borrow and spend policy for capital projects. They issued a report noting BC’s low debt to GDP ratio and citing record low interest rates. They say the low interest rates are creating an opportunity for BC to borrow money for capital investments that will lead to economic benefits.

Wow! That sounds like an NDP platform. The Business Council of BC admits that there can be economic benefits to borrow and spend policies. Save that article to your hard drive.

http://www.vancouversun.com/opinion/columnists/Vaughn+Palmer+Premier+Christy+Clark+rejects+business/10379285/story.html

Royce McCutcheon
Member
Royce McCutcheon

You can buy the Corleone family compound on Staten Island for the price of a bland Vancouver West side McMansion.

http://www.cnn.com/2014/11/13/us/godfather-home-for-sale/index.html?hpt=hp_c3

LS in Arbutus
Guest
LS in Arbutus

I had Vision phone twice yesterday, NPA once and COPE twice. I have been getting calls off and on for weeks so I know the numbers on my call display now when they aren’t identified. But it’s reached frenzy level. Very over the top.

say whaaaa?
Guest
say whaaaa?

@2

The BoC is pretty much just good for comedic effect in my opinion. For me, Poloz (who makes ~$500k/yr) and his “kids should work for free to bolster their resume” (with no mention of the TFW program and it’s implications for locals) was the jumping of the shark. Hard to take anything they say seriously at this point.

Westside Realtor
Guest
Westside Realtor

It’s harder than it has been (other than a nail in late 2008/early 2009) to move premium product at premium prices than its been in at least seven years.

We are entering into a new era in this housing cycle.

Hare far to fall before we revert to mean?

Your guess is as good as mine. That said, I’m betting we have a king long way to go on the downside before we are done. The shift had begun.

Tim Louis of COPE
Guest
Tim Louis of COPE

“People who already own homes would be unfairly hurt by a policy that would lead to a drop in real-estate values. If the current homeowner has taken out a mortgage for say 90% of the worth of their home, and values then drop by 10%, the homeowner has lost 100% of her or his equity.”

https://vreaa.wordpress.com/category/24-policies-on-housing/

Whistler or bust?
Guest
Whistler or bust?

#5 – Its nice to see that Westside phoney is getting more and more down votes and quicker. Soon his BS posts will disappear faster than Chinaone.

patriotz
Member

@6: “Business Council of BC is calling on the BC Government to embark on a borrow and spend policy for capital projects.”

That has been the policy as least as far back as the Bill Bennett government.

Maybe what they really mean is borrow more, spend more.

kabloona
Member
kabloona

#9 – Too true, his basic function is to draft in behind Janet Yellen and pretend he has control over much of anything….what a sweeeet gig!

An algorithm would be cheaper than Poloz and would spare us from his occasional outbursts of boring nonsense….

😉

Some good comments here
Guest
Some good comments here

There are some insightful comments here. Unfortunately, comments by the likes of Westside Realtor, along with his upvotes, just drag the credibility of this blog back into the sewer.

southseacompany
Member
southseacompany
“BMO expects ‘some correction’ in Toronto, Vancouver home prices Add to …” Globe & Mail http://www.theglobeandmail.com/report-on-business/top-business-stories/bmo-expects-some-correction-in-toronto-vancouver-home-prices/article21573591/ “In a North American economic outlook published today, senior economist Sal Guatieri said higher interest rates will cool the “red-hot” markets in those cities, though Calgary is something of a different story. “Prices have accelerated faster than family income, further straining affordability,” Mr. Guatieri wrote. “Consequently, some correction is anticipated in Toronto and Vancouver when interest rates eventually rise.” “Mr. Guatieri made it clear in an interview that he doesn’t see a crash, just that “we believe prices will fall at least moderately in Toronto and Vancouver when interest rates normalize over the next three years.”” ““As a rough guide to potential price declines, if interest rates rose two percentage points in the next three years (while income continued to trend higher), the price… Read more »
Brian Ripley
Guest
Brian Ripley

re: “BC leads decline in starts”

I’m projecting Canada wide starts will be down 9% Y/Y and BC will be down 3% Y/Y by Dec 31, 2014

http://www.chpc.biz/housing-starts.html

The headline “BC down 17%” is M/M but monthly stats are volatile.

Sales in Vancouver remain near their seasonal highs as listing volumes slump towards their seasonal lows:

http://www.chpc.biz/sales-listings.html

I think we will have to wait until 1Q 2015 to see whether the big energy sector sell off and its consequences rippling through the high yield credit markets, will depress the animal spirits in Vancouver. It might start eroding confidence at the high end.

Whistler or bust?
Guest
Whistler or bust?

I have a feeling we are going to have a big upset in the election. Momentum is building against Moonbeam . Early voting is up 98% . Early voters are not voting for the incumbent.

Slagathor
Guest
Slagathor

…I have a feeling we are going to have a big upset in the election. Momentum is building against Moonbeam . Early voting is up 98% . Early voters are not voting for the incumbent…

Bicycle riding chickens that smoke are evacuating Vancouver as I write this.

Garbage
Guest
Garbage

slagathor, your mother is a chicken.

Slagathor
Guest
Slagathor

buck-buck

paulb
Member
Trusted Member

New Listings 128
Price Changes 54
Sold Listings 138
TI:14194

For weekly sales and/or listings updates on a specific neighbourhood/city of your interest, email me and I will customize a weekly update for you. http://www.paulboenisch.com

hamwhat
Guest
hamwhat

all the big talk from Christy Clark
over 3 years as Premier and she hasn’t made a single deal to bring a single job to British Columbia,

lots of Jobs lost since she’s been Premier, she’s the biggest liar in Canada

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