FFFA! Oil, Outlook, Restructuring, 20%

Well well well, it’s the end of another work week and that means it’s Friday Free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:

Oil Price Plummet
We are affordable
Scotiabank Chops
Remove the top 20%
Check the facts
Accumulate enough debt
world class yet?
WTF?

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
tedeastside
Member
tedeastside

long ago Vancouver prices surpassed SF and LA too

people with dreams to be an actor, singer, director, producer
go to Los Angeles, not the best place on earth

do any talented people go to vancouver, not a chance, vancouver is only on the map for third world migrants looking for handouts and scammers

some recent visitors to vancouver commented how miserable it looks and how nobody smiles ….maybe not so world class

RFM
Guest
RFM
Honda reported Thursday that it plans to invest C$857 million over three years to upgrade manufacturing plants in Alliston, Ontario, which will be the global lead for production of the next-generation Honda Civic. The investment plan includes a conditional grant of up to C$85.7 million from the province of Ontario. This investment, and others like it, bring strength and diversity to the regional economy. The lower mainland of British Columbia lacks much of this underlying economic base that has long supported the economy of Ontario. With as much as 35% of the local economy solely reliant on real estate and its related industries, BC is potentially subject to a significant hit from any downturn in the real estate segment. Source:http://credbc.ca/role-energy-sector-bcs-economy/ Source: http://www.autonews dot com/article/20141106/OEM01/141109880/honda-canada-to-invest-750-million-in-ontario-plants (note that you will need to convert the ‘dot com’ to the real thing to view… Read more »
George
Guest
George
Have you guys been seeing the news stories about that Marilyn Monroe photograph that they’ve been trying to auction off in Vancouver? It’s a rare photo of Marilyn looking sad. There’s been kind of interesting progression in the media coverage of that story. It’s been in the news everyday for about a week. First, the media was talking about how the photo was expected to fetch big bucks at auction in Vancouver. They interviewed an auctioneer who said a similar photo of Marilyn sold in France for the equivalent of about $80k. It seemed to be a story about rich people and how they throw around lots of money for things they like to collect. Then the auction was completed and the media told us that the photo sold for $38k. Now that is a lot of money for a… Read more »
Westside Realtor
Guest
Westside Realtor
Great post. Media is the lapdog for the RE industry. We pay their bills, they do our bidding. Speaking of bidding, we have a $5+mm listing I’m our office (we have reduced by about $500k from original list price this far). We thought we would get it sold based on the current list price. That ain’t happening. We are starting to get into an environment where sellers had best catch a bus as in my best guess we will see those bids weaken over the coming months. I suggested to my colleague that they drop another $500k…she almost barfed when I said that (she is so cute, it would be neat to see her barf)…anyways she knows she is going to have another stressful chat with the seller and take some heat. I could easily see the market break down… Read more »
George
Guest
George
That story about Honda investing in Ontario made me think about another investment in Ontario. It was in the news recently that Ontario Premier Wynne came back from a China trade trip with an announcement that China will be investing to build a nail factory in Ontario that will create 80 jobs. I think I actually first heard about it on This Hour has 22 Minutes. They were mocking it, making it sound like such a pathetic deal, like as if a nail factory with 80 jobs is going to save the Ontario economy. I thought, at least it’s 80 jobs for Canadians right? No mention of TFWs being brought in to work in the factory. It would be unthinkable for our premier to get a deal like that out of China. Everytime our premier goes on a trade mission… Read more »
@george
Guest
@george

Maybe they would get a good price if the pic was Marilyn Cong, nont Marilyn Monroe.

patriotz
Member

@5: “China will be investing to build a nail factory in Ontario that will create 80 jobs.”

They are putting up $20 million dollars. No doubt they will be using an empty industrial building. That’s $250K/job – peanuts these days.

While a similar building in Vancouver would no doubt be replaced by a condo development, creating no permanent jobs on a similar investment.

You can get a government-guaranteed loan to buy a condo, but not nails.

southseacompany
Member
southseacompany

“Banks overexposed to Canada’s red hot real estate market.” Amanda Lang, The Exchange, CBC

https://www.youtube.com/watch?v=_C5Xtqjew8Y&feature=youtu.be

Son of Ponzi
Guest
Son of Ponzi

Nail factory?
I guess for nailing all the coffins shut when this RE bubble collapses.

Boombust
Guest
Boombust

#1

Los Angeles? Ugh. Armpit.

Don’t make me laugh.

@TesEastside
Guest
@TesEastside

Have you ever been to LA? And more specifically Santana Monica??

They are nothing special.

Try Malibu or La Jolla about 2 hours south. Detached homes start at about $10 Million in these places..

@@TesEastside
Guest
@@TesEastside

NOT SPECIAL COMPARED TO WHAT?

HAVE U BEEN TO VANCOUVER? LMAO.

space889
Guest
space889

@George – Or maybe rich people in Vancouver are just smarter and realize that a photograph isn’t a good investment, even if it is Marilyn Monroe, if they even know who she is. Heck, I wouldn’t be surprised if a good chunk of under-40 population confused that name with Marilyn Mansion.

Now if it is some small really really old teacup then you might get some action and out comes the AMEX Black Card…..

Slagathor
Guest
Slagathor

Maybe they would get a good price if the pic was Marilyn Cong, …

Is that King’s sister?

Many Franks
Member

Marilyn Mansion? Santana Monica? You guys crack me up.

Marco
Guest
Marco

Numero uno @ Tedeastside

Hands down San Fransisco takes the Westcoast cake…

This from Garth Turners blog:

Garth Turner says:
“Of course, until houses start selling for less on your street, you won’t believe any of this. But it may now be only a matter of time. And I’m not the only little drip saying such things. There’s Lawrence Schembri, deputy governor of the Bank of Canada who just published an article stating this about the real estate love juice now sautéing the economy:”

Lawrence Schembri states:
‘ “These post-crisis imbalances have accelerated a trend in which the government has become more exposed to the Canadian housing market via its guarantees on mortgage insurance mortgage securitization. This trend is not sustainable.” ‘

Cheers.

Son of Ponzi
Guest
Son of Ponzi

#15
probably means Carlos (Charles) Santana.

Westside Realtard is Romeo Jordan
Guest
Westside Realtard is Romeo Jordan

A lot of people here complain a lot of the current Mayor. If you don’t like Gregor get out from behind your keyboard and frickin vote.

You can vote from 8-8 Nov 4-15. There is no excuse!

Westside Realtard is Romeo Jordan
Guest
Westside Realtard is Romeo Jordan

Speaking of bidding, we have a $5+mm listing I’m our office

Care to give us the MLS number Mr. Phoney?

chilled
Member
chilled

Westside Realtard is Romeo Jordan Says:
November 7th, 2014 at 11:58 am 18

A lot of people here complain a lot of the current Mayor. If you don’t like Gregor get out from behind your keyboard and frickin vote.

You can vote from 8-8 Nov 4-15. There is no excuse!

++++++++++++++++++++++

Who’s the alternative? LaPointe? The Lieberal Schill?

Amazingly enough, many will. Oblivious to the fact that LaPointe RAN the Vancouver Dung printing press propaganda machine for years, editor in chief, promoter of real estate, obfuscation and sky high real estate prices.

Please tell me that none of this blogs regulars and supporters would even CONSIDER voting for this idiot.

space889
Guest
space889
Heavens forbid for you guys to vote Meena Wong a female candidate? oh wait she’s Chinese, must mean she’s totally superstitious and corrupt. There are lots of independents who are running and frankly those might be better than established parties since they really need to get the vote to win without a lot of financial backers. That might mean they might actually do something good for a change. Courier profile 1 independent who was in a mayoral debate a few weeks back. Can’t remember the name but at least he seems to be more honest and actually answered the question (transit related) as asked by admiting that we have problems with no easy solutions. Which is a lot better than the 3 main parties candidates who all dodged the question and just repeat their campaign slogans with no actual content… Read more »
Westside Realtard is Romeo Jordan
Guest
Westside Realtard is Romeo Jordan

It doesn’t matter. I bet 1/10 on here will bother voting.

I agree with #21. In Muni elections independents actually have a small chance (unlike prov or federal)

Shut It Down Already
Guest
Shut It Down Already

The idiots voting up Westside Realtor don’t care that he’s a fake, they just like a good bedtime story.

Meanwhile, paulb continues to provide daily stats without missing a beat. Thanks Paul!

Brian Ripley
Guest
Brian Ripley

I have the OCT data updated on my Vancouver, Calgary & Toronto charts now:

http://www.chpc.biz/

Vancouver still up ticking in price on seasonally slowing sales.
Calgary prices are off the boil along with the energy patch.
Toronto prices hit new record highs on strong sales; it’s where the mojo is in Canada.

chilled
Member
chilled
space889 Says: November 7th, 2014 at 1:02 pm 21 Heavens forbid for you guys to vote Meena Wong a female candidate? oh wait she’s Chinese, must mean she’s totally superstitious and corrupt. There are lots of independents who are running and frankly those might be better than established parties since they really need to get the vote to win without a lot of financial backers. That might mean they might actually do something good for a change. Courier profile 1 independent who was in a mayoral debate a few weeks back. Can’t remember the name but at least he seems to be more honest and actually answered the question (transit related) as asked by admiting that we have problems with no easy solutions. Which is a lot better than the 3 main parties candidates who all dodged the question and… Read more »
wpDiscuz