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!
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
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. 🙂
#2, patriotz…
Much like Homeless fantasy, Vancouver Edition… Didn’t Gregor Robertson vow to end homelessness by 2015?
China’s PBOC cuts interest rates for first time since 2012
“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.”
“All the single ladies … are driving Canada’s condo market” Globe & Mail
“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.”
“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.
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.
@ #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.mpamag.com/real-estate/why-are-chinese-home-buyers-targeting-this-l-a–suburb-20019.aspx
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!
@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.
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.
#13
do you have a list of Dentists and Acupucturists that were shut down?
“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)?
@#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.
@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”.
#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.
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
Mr. @ must have blew his noodles all over his screen after reading that comment!!!
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.
#22
seems you don’t offspring yourself. Little Ceasars are way more awesomer than any wood-fire Neapolitan 00 flour pizzas, duh.
