FFFA! oil, panic, debt, surge

Hey, you made it to the end of another work week!

That means it’s time for another Friday Free-for-all. 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:

New alarm over household debt
Panic in Alberta Luxury RE
But Toronto and the ‘Couve are fine
January Realtor Hunger Index 71%
Oil prices surge to 1 month high

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

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Brian Ripley
Guest
Brian Ripley

I just published a data update to my TSX indexes (real estate, finances, energy & gold) chart:

http://www.chpc.biz/tsx-indexes.html

In the past 12 years, the CCI has rallied 8 times out of the fall and in 2013-14 the boost came from the Polar Vortex engine.

2014-15 is different; it’s the deflation engine on all cylinders; commodities, currencies and central bank panic attacks.

My Vancouver housing chart is updated as well:

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

Vancouver buyers did not get the memo yet.

Shut It Down Already
Guest
Shut It Down Already

Haha, a joke about the weather! How original!

nufio
Guest
nufio
paulb
Member

New Listings 232
Price Changes 43
Sold Listings 101
TI:11918

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

valleyrenter
Member
valleyrenter
And so the early spring market is starting to bloom in my neck of the woods. T/H complexes I’ve watched in the past year are starting to come online again with more units for sale. Still having pricing all over the map, almost like no one really has any idea what they should really be priced at comparatively. Seen some price drops in the $10,000 range, some on listings only a month old. Seeing some old faces re-emerging from not selling last year and the listings expired. Seems the algorithm on the site I use plunks them back in order as though they are really old listings, not fresh new ones on market, *chuckle*. Still a glut of condos on the market, seems anything pre-2000 is still unloved and cheap, even though they typically have more sq/ft. Doesn’t really matter… Read more »
vangrl
Member
vangrl
Lurker
Guest
Lurker

@30 – You in Fairview Slopes? Talking about those places on 6th?

valleyrenter
Member
valleyrenter

@ 32-Lurker

Nope, out in the valley.

Best place on meth
Member
Best place on meth

#31

Who cares what land? Just look at the interest rates on that page!

I can actually get a 2.15% variable? If so I need to buy me some shit right now.

Paul – put down that glass of wine and tell your wife you’re going out!

Schnell!!!

joe
Guest
joe

@BPOM

I can actually get a 2.15% variable?

Election coming, so monetary policy will probably be hitting the rev limiter until then.

realist
Member
realist

#11 Crabman
I believe that you are correct. While locals most certainly are active participants in the speculation in the Lower Mainland, foreign money is the driver; on the west side of Vancouver, there is very little else.
#15 space889
I know you have comments of value to contribute, so kindly desist from trash-talk, especially about Patriotz. While I might disagree with him from time to time, he is undoubtedly a star contributor to this blog.

patriotz
Member

Buying a house before yours sells? A bridge loan can help

The Amelios’ situation is commonplace in frenzied real estate markets, such as those of Vancouver, Toronto and, for now, Calgary, where bidding wars and snap buying decisions are the norm.

“For now, Calgary”? How do you think people who took out bridge loans in Calgary are doing now?

Makaya
Member
Makaya
Stream of Foreign Wealth Flows to Elite New York Real Estate “On the 74th floor of the Time Warner Center, Condominium 74B was purchased in 2010 for $15.65 million by a secretive entity called 25CC ST74B L.L.C. It traces to the family of Vitaly Malkin, a former Russian senator and banker who was barred from entering Canada because of suspected connections to organized crime. Last fall, another shell company bought a condo down the hall for $21.4 million from a Greek businessman named Dimitrios Contominas, who was arrested a year ago as part of a corruption sweep in Greece. A few floors down are three condos owned by another shell company, Columbus Skyline L.L.C., which belongs to the family of a Chinese businessman and contractor named Wang Wenliang. His construction company was found housing workers in New Jersey in hazardous,… Read more »
@Makaya
Guest
@Makaya
Garth will never acknowledge that. He is massively invested in equities and owns several rental properties eventhough he rents the one he lives in. He depends on 1) Richmond Hill HAM for investment, 2) Has to be ‘good’ with the Big 5, and 3) wants people to sell homes and invest with him. Garth explicitly does not want deflation in equities. What’s disturbing is he doesn’t want it in Housing either. He cities that house prices are out of whack with incomes, and yet states there will be no crash. Really? Keep citing $67K annual income and $1 Million dollar homes. Anyone one that can think for themselves can see right through the lie. The blog is based on groupthink. It has about 1000 daily followers, a drop in the bucket with respect to the majority. Make no mistake, foreign… Read more »
Shut It Down Already
Guest
Shut It Down Already
Nobody on an average income is buying a $1m home with 5% down. Do you get it yet? They’re mostly move-up buyers who already have significant equity. Garth has also made it quite clear that he thinks multi-unit properties that generate cash flow are better value than primary residences, and this is represented in his personal allocation. Make no mistake, prices are high because of low interest rates, loose lending policies, government programs to assist FTBs, and a smattering of idiocy amongst local buyers fueled my the mainstream media. It’s the FTBs who are driving the market – if or when they dry up that’s when the trouble could begin. All this talk of foreigners driving the whole market rather than an insignificant portion at the top is quite ridiculous. No surprise Garth has no tolerance for the racists who… Read more »
herdheardselling
Guest
herdheardselling

The only reason for east side bidding wars is lack of supply.ie Nothn available so these impatient buyers are paying a premium. Wait till spring flood o listing and thing’s will change. FYI it’s true locals are driving these wast side SFH, I know a couple who just paid way to much for a soso house on a soso street they were frustrated after losing out on a couple biding wars so they bid 100000 plus over on a home that I’m pretty sure they were the only bidders on. And they couldn’t telle how big the lot size was, clueless couple with a million dollar mortgage. This is a perfect example offoolishness. How many more like them exist who can qualify for a million $ mortgage???

@shut it down
Guest
@shut it down

Yeah right.

Its recent immigrants funnelling money back from the homeland.

Greater Vancouver is going to be an 60% plus majority Asian city soon. Oh, try moving up with equity from a townhouse into a detached. What’s that I hear??

@shut it down
Guest
@shut it down

Are you being paid by Chrissy’s propaganda social media company?

Secret
Guest
Secret

Garry’s immediate relatives work for the BIG 5 🙂

YLTNboomerang
Member

Can anyone recommend a good site for finding rentals on the North Shore? We are looking to move over there when our lease is up in October and reckon I should start looking now. We want a whole home with nobody in the basement; craigslist is too full of amateur landlords, we want a professionally managed place like we are in now.

UBC in Crisis Mode
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UBC in Crisis Mode
UBC in Crisis Mode
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UBC in Crisis Mode
@crabman
Guest
@crabman

“After looking at the different appreciation rates for high-end vs. low-end condos, and detached vs. condo prices, I’m more convinced than ever that HAM is the primary driver for recent gains.”

Of course it is the primary driver. Everyone knows real estate is driven from the top down and it only takes 1% to 2% of market sales to drive the other 98%.

You should see if Global will put on the 6 o’clock new broadcast for this breaking story. I can assure you that you will be approved by the real estate cartel prior to airing. Also mention we are running out of land, Vancouver is the BPOE, the mountains are beautiful and prices will only continue to go up every year for infinity due to global demand.

Shut It Down Already
Guest
Shut It Down Already

42, I bet there are more recent Asian immigrants sending money home from Canada than there are who bring suitcases of cash with them. So what’s your point again?

tedeastside
Member
tedeastside

sending money home from what jobs??…..Vancouver has the lowest wages and most pitiful economy in canada.

vancouver is the last place you would go to get a job.