Friday Free-for-all! Oil! Looney! Housing! IMF! Rates!

Here we are, Friday again!

And you know what that means?

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:

Housing debate continues
IMF can’t stop worrying about Canadas bubble
Hike interest rates in May? not so fast.
spiking prices, but more affordable
Cable bills fine, help with the mortgage?
Canada largest industry is real estate
Zombie neighborhoods

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

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oneangryslav2
Guest
oneangryslav2

#29–The picture gets a little clearer, Ted. Most individuals with a triple-digit IQ understand that in this weather all you need is one jacket.

tedeastside
Member
tedeastside

im sure every millionaire wants to live in vancouver
so they can wear 10 jackets when they go outside

not that vancouver has anything to do anyway unless you like to sit on a bench and look at trees all day

Shut It Down Already
Guest
Shut It Down Already

“Just wondering if the jump in housing sales in recent month are due to the coming money monitoring by the CRA”

Clutching at straws now, I see.

Bo Xilai
Member
Bo Xilai

RE: Oil Prices…

All I know is the last time there was this dramatic a decline in oil prices was June 2008… and we all know what happened 4-5 months later…

This can’t be a good sign for the broader health of the economy, despite the Federal Reserve’s cheerleading.

bobby
Guest
bobby

I dunno, Alberta seemed pretty lively and prosperous at $10 oil when I lived there 15 years ago. I remember unemployment was 5ish % similar as now, and I never had a problem finding work.

CrashComing
Guest
CrashComing

I seriously suspect that there are hundreds of specuvestors/specudevelopers in Alberta absolutely shutting their pants right now.

I met up with some albertans who moved from here a few yrs ago and they boast about how there are ten jobs for every one person looking (vs the opposite here)…that can turn on the proverbial dime I see pain ahead.

It could turn to shit there in a few months.

I bet there are a lot of people seriously shitting the bed this weekend.

Too many
Guest
Too many

Took a look at charts of stocks for the last 4 years.

Most doubled or tripled. Someone with say 500,000 in them is now a millionaire. There is too much money around because of the asset bubbles helped on by the central banks.

Loon
Guest
Loon

Happy Thanksgiving weekend to the south of the border VCI contributors !

Enjoy the cheap gas while it lasts !

Too many
Guest
Too many

A new immigrant investor program is on its way. Google or Twitter it. Only need $1 Million.

The $25million net worth families from China are going to start coming. No 6 year backlog. Watch what happens to the nicer areas prices.

Too many
Guest
Too many

Too much hope on this blog.

Oil prices have nothing to do with Vancouver Real Estate. The only way this ship will go down is by ending the massive amount of immigration to Vamcouver. Mainland Chinese don’t care about oil prices. They care about sending their kid here for school and buying a house in the process.

The foreign students coming now are from rich families.

Bo Xilai
Member
Bo Xilai

#19, I guess http://www.crackshackormansion.com is a bit of a misnomer then…

Maybe HGTV can do a new reality show (do they do any other kind?)

Million Dollar Crack Shack.

Perhaps former Real Housewives of Vancouver can do a guest spot sparking up a crack pipe in Manolo Blahniks?

George
Guest
George

Vancouver Sun headline: “Life next to derelict million-dollar Vancouver home is far from rosy”.

In most parts of the world the term ‘derelict million-dollar home’ would sound like an oxymoron, a contradiction in terms. The article talks about how the home, purchased for speculation purposes and left vacant, is occupied by transient drug addicts. Vancouver is the only city where literal crack shacks are valued over a million dollars.

http://www.vancouversun.com/news/Life+next+derelict+million+dollar+Vancouver+home+from+rosy/10424444/story.html

Heard Herd selling
Guest
Heard Herd selling

Yaletown Park has flatlined since it’s inception, a 2% gic beats that dump

joe
Guest
joe

@ Billy Bob

Interest rates haven’t risen yet.

Billy Bob
Guest
Billy Bob

For years on these blogs I’ve been reading “once interest rates rise it will all be over”, “all the vested interests are pumping this teetering market”, “A colleague who’s in over his/her head in mortgage debt confided in me”, and on and on and on. It’s always the same (since the early 2000;’s). The constant predicting of an imminent correction is as bad as the “vested interests”. The one I clearly remember is “Yaletown Park is going to be ground zero for the correction as all that supply hits the market at once”. Sorry but that’s the way it’s been.

history
Guest
history

A couple of remarkably astute posters have mentioned the vulnerability of Western Canadian real estate in the face of the Dutch Disease canadian economy(oil,oil,oil), most painfully expressed by those enormous Alberta incomes, which are, arguably, driving much of the West Coast real estate appreciation of the last 12 years. But how much? We have a front row seat. Keep those stats and anecdotes coming! Especially that Ripley guy.

paulb
Member

New Listings 104
Price Changes 47
Sold Listings 109
TI:13643

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

Yunak
Guest
Yunak
CV
Guest
CV

Indeed, the classic Alberta bumper sticker of the 1980s was “Please God, let there be another oil boom. I promise not to piss it all away next time.”

http://www.theglobeandmail.com/report-on-business/economy/twilight-of-an-energy-boom-albertas-new-fiscal-challenge/article8415713/?page=all

NOM NOM NOM
Guest
NOM NOM NOM

@ #6… Nope… I tried, but I threw up a little in my mouth by the 2 minute mark.. I will refortify myself and have another run at it in a bit.

bullwhip29
Guest
bullwhip29

@ #7

imho, michael levy and his flunky kid have no business commenting on financial matters (aside from otc penny stock pump and dump promotions, of course); wonder what global’s angle is here? i don’t get it. you’d think they could find someone who at the very least has some credentials and qualifications. even cameron muir has some schooling and background as a former RE salesperson, which give him the tools to at least sound somewhat credible when acting as a talking head for the RE industry.

VanRant
Member
VanRant

Just wondering if the jump in housing sales in recent month are due to the coming money monitoring by the CRA. If so, coming year could be very interesting.

bullwhip29
Guest
bullwhip29

@ #6 not sure what is more absurd, the comment about housing or the one about BBRY

Marco
Guest
Marco

@6 Southseacompany

Thanks for the chuckle. Looks like he was up all night trying to figure out how to reassure the public that there is no housing bubble. He says income catching up and population growth fuelling house and condo sales. Ha ha, incomes increasing to match housing and condo costs, that’s rich, pardon the pun. these vested groups better hope the rich foreign investor group doesn’t trickle to a stop. As well baby boomers buying their kids condos etc… When interest rates rise all bets are off.

Cheers.

southseacompany
Member
southseacompany

Global TV: “No such thing as a Vancouver housing bubble: report”

http://globalnews.ca/video/1694599/no-such-thing-as-a-vancouver-housing-bubble-report

Video. If you can stand it.