Friday Free-for-all!

Its the end of another week and that means its Friday free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend.

Let’s kick off the chat.

-links to come soonish

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

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tedeastside
Member
tedeastside

vancouver’s pitiful job opportunity will keep a lid on any population growth.
unless Microsoft moves their 60,000 Seattle employees to Vancouver or Boeing moves their Engineering division and assembly plants 2 hours north….thats probably not going to happen any time soon, so until then its lululemon and megabite pizza for the people of vancouver

here’s what actual economic activity looks like , you would never see this in BC
http://upload.wikimedia.org/wikipedia/commons/b/b1/Boeing_Everett_Plant.jpg

http://processindustryforum.com/wp-content/uploads/2013/10/Boeing-Everett-Factory.jpg

patriotz
Member

Transit fantasy, Surrey edition:

Is Surrey mayor-elect Hepner’s promise of light rail by 2018 possible?

I will refrain from calling it “Rob Fordism” since RoFo hates light rail. 🙂

Bo Xilai
Member
Bo Xilai

#2, patriotz…

Much like Homeless fantasy, Vancouver Edition… Didn’t Gregor Robertson vow to end homelessness by 2015?

Bullwhip29
Guest
Bullwhip29

China’s PBOC cuts interest rates for first time since 2012

George
Guest
George
@ Patriotz # 2, Bo Xilai #3 Don’t be so hard on Linda Hepner. What I heard Hepner say about that is that if the transit referendum fails she is going to work on a Plan B so that Surrey does get Light Rail by 2018. Perfect–that sounds exactly right to me. It’s the opposite of what Gregor Robertson is saying: if the referendum fails, then there is no Plan B for the Broadway subway. Nice manipulation there, mayor-re-elect. It sounds like he is trying to manipulate voters to vote yes to the referendum. If you don’t vote yes to more taxes then no Broadway subway. Hepner is being realistic and saying people probably won’t vote yes to more taxes, but Surrey absolutely needs rapid transit like since before yesterday, so I better come up with a plan of achieving… Read more »
southseacompany
Member
southseacompany

“CMHC probing Canadian house ‘premium’ to U.S. prices. ” CBC News

“Canadian prices kept rising as U.S. prices dove in 2006-09”

http://www.cbc.ca/news/business/cmhc-probing-canadian-house-premium-to-u-s-prices-1.2843924

“Canada Mortgage and Housing Corp. says Canadian housing prices have been higher than U.S. prices in real terms since 2006, an indication that the market here may be overvalued.”

“”The Canadian ‘premium’ could be a cause for concern,” the report said.”

southseacompany
Member
southseacompany

“All the single ladies … are driving Canada’s condo market” Globe & Mail

http://www.theglobeandmail.com/report-on-business/economy/housing/the-real-estate-beat/canadas-home-prices-may-have-surged-but-less-so-than-some-markets/article21665668/

“Women are overrepresented in the singles condo market, according to CMHC.”

““This is a very important force: more single people living by themselves, mainly women,” CIBC World Markets Inc. deputy chief economist Benjamin Tal said.”

Son of Ponzi
Guest
Son of Ponzi

“Ladies driving the Condo market”.
And we need a useless economist to tell us the obvious.
Women, granite and stainless steel are a match made by Realtors.

Son of Ponzi
Guest
Son of Ponzi

Also, many doctors, dentists and lawyers have been buying condos as “investments”.
Shows you that being intelligent does not mean that you are financially savvy.
And again, you don’t need a useless economist to tell you that.

bullwhip29
Guest
bullwhip29

@ #6

looks like the gap is closing with HAM scooping up anything and everything in first tier, world class cities south of border. light bulb must have gone on as they asked themselves, what the eff are we doing paying these prices for substandard properties in places like Richmond, BC, which has very little to offer outside of strip malls, noodle houses and bubble tea cafes? perhaps the boys and girls over at CMHC had a little chat with the powers that be in the US. see, this is how it’s done.

http://www.forbes.com/sites/kenrapoza/2014/11/14/obamas-new-visa-law-seen-helping-chinese-buy-u-s-real-estate/

http://www.mpamag.com/real-estate/why-are-chinese-home-buyers-targeting-this-l-a–suburb-20019.aspx

VanRant
Member
VanRant

Westside Realtor must be right! A HAM client just liquidate their West Van Home which they purchased for 5.5 mil a couple of years ago to save their business in china. They have just sold it for I million less!

patriotz
Member

@5: ” Hepner is being realistic and saying people probably won’t vote yes to more taxes”

Transit improvements have to be paid for by the taxpayer. Claiming that the Tooth Fairy or equivalent is going to pony up the money if the taxpayers vote no is not being realistic.

3P
Guest
3P

http://www.vch.ca/media/Restaurant_Closures_November_14_2014.pdf

Notice a pattern?

If you believe that disease are caused by disharmony of energy in your body you aren’t going to keep your restaurant clean.

Son of Ponzi
Guest
Son of Ponzi

#13
do you have a list of Dentists and Acupucturists that were shut down?

George
Guest
George
@ Patriotz #12 The taxypayer, the middle class and the working poor are stretched to the max in this region. We simply cannot afford to pay for road pricing or higher fares or whatever scheme they’re going to come up with for this referendum. The Compass Card fiasco has cost $200 million and we’re still not using the faregates. You should see the confused looks on the faces of the tourists here. They see faregates with a little screen that looks like you’re supposed to tap on something. They try to swipe the fare they bought at the ticket machine on the compass card tap thing at the faregate. Then they see all the locals just walking through the faregates. It’s totally normal to Vancouverites to have faregates at the transit stations that don’t work but it trips out some… Read more »
@1
Guest
@1

“so until then its lululemon and megabite pizza for the people of vancouver”

The sad part Ted is you can’t get a job at either of these places. Do you really think you would have a chance of landing a job at MS or Boeing if their head offices were here (both of which do employ people in Vancouver)?

@George
Guest
@George
“What I heard Hepner say about that is that if the transit referendum fails she is going to work on a Plan B so that Surrey does get Light Rail by 2018.” That is great she said it but there is zero chance of it happening by 2018 if the referendum fails. Likely will not happen by 2018 even with a positive result on the referendum. There is no question Surrey will get support for transit by both the BC Liberals and Harper government before Vancouver will due to the Gregor regime not being well liked by either government. A vote for Gregor was actually a vote against the new subway. The fact people like you believe Hepner shows it makes sense for politicians to outright lie in order to get elected. Some people even believed Gregor with is even… Read more »
The Man
Guest
The Man

@#15 “The government needs to figure things out to make rapid transit happen without big tax/fare hikes for the working poor.”

Yes, they can densify your neighbourhood, and use the resultant DCC’s.

realist
Member
realist

@9 Son of Ponzi

High-earning professionals such as lawyers, doctors, dentists etc are magnets for investment con artists, including condo shills. Reason is simple: big cash flows and ready access to credit together with financial illiteracy, which in turn is a product of exclusive focus on professional education & often humble backgrounds (educational meritocracy), all similar to athletic stars. Nothing new here, and one of the reasons there have always been working elderly professionals: a few con-artists & ex-spouses in a life can set you up to join the old “working poor”.

Son of Ponzi
Guest
Son of Ponzi

#19
yeah, but what scares me the most is, that the neurosurgeon whos’s operating on my spine is distracted by thinking about how to get rid of his condo tenants who are wrecking the place.
I also know that Condo Management companies are making a killing from those amateur landlords.
In one case, the ratio is 60/40 of the gross rent.

Son of Ponzi
Guest
Son of Ponzi

I don’t listen to any pronouncements by useless economists, but many of the posters do.
So, for those of you, here’s something from a B. YAFFE piece in The Sun.

Wiebe says the only things that could reverse the escalation of West Coast prices is a significant downturn in China’s economy or a move by Beijing to restrict the ability of its citizens to take money out of the country.

That’s what my open eyes and ears have been telling me all along.
Nothing beats on the ground reconnaissance.

AppearingWealthy
Guest
AppearingWealthy
Saw an Asian family at the rec center last week. Kids just finished swim class, mom comes out with them, dad gets out of his brand new BWM with a Little Ceasars hot n ready $5.99 special for dinner for his wife and 2 kids. I almost puked I felt so sad for them. Is this what asians say when they talk about “better with money”. Cheap = smart? From what I see and know (have been told from my asian friends) is that common practice is get the best car you can and cheap out on everything else in life. This is a disgraceful way to live. Unfortunately this is sad but true. It’s all about “appearing to be wealthy”. Call me racists but the truth hurts. Ever seen an Asian drive a Hyundai, exactly. they’re not all wealthy,… Read more »
Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

@AppearingWealthy

Mr. @ must have blew his noodles all over his screen after reading that comment!!!

Westside Realtor
Guest
Westside Realtor

Thanks Madashell.

I am right. At the moment anyways (could always change and we could always see another flood of overseas money and buying) .

At the moment though, it’s soft out there and I don’t see any change to this trend evident on the near term horizon.

Have a great weekend all.

Garbage
Guest
Garbage

#22

seems you don’t offspring yourself. Little Ceasars are way more awesomer than any wood-fire Neapolitan 00 flour pizzas, duh.

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