FFFA! Sales, prices, rents and resources.

It’s that time of the week again…

Friday Free-for-all time!

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

GV: sales up, prices slip
PTT a ‘drag’ on RE economy
What are you paying for rent?
Vacant homes target by thieves
TD forecasts dip in Calgary
but they’re already down YOY

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

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Oracle
Guest
Oracle

Metro Vancouver belongs to Chinese and Indians as much or more than Europeans.

Everyone get used to it.

Peace. May the majority rule in s democracy.

patriotz
Member

@bearvancouverite: “Confucius advocated family values, respect for one’s parents, the value of education and the importance of honest government that was responsible to its people. Not sure if your rage will let you see what irony that might have with respect to your rants”

You’re the one who can’t see the irony. The “Confucius Institute” is a propaganda agency for the Communist regime which under Mao (you know, the guy on all Chinese money) openly set out to destroy everything Confucius stood for. Today the Communists have gone easy on attacking Confucius personally but are still against his values. At least Mao wasn’t hypocritical about it.

Imagine if Putin tried to set up a “Tolstoy Institute” to teach “Russian culture” to our kids.

long dong
Guest
long dong

http://www.businessinsider.com/digit-ceo-ethan-bloch-interview-2015-2

Debt piggies have been saved! An algorithm will save money for them. The only catch, there is no interest on the cash saved.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

Rally set to air Chinatown concerns

“at-risk heritage”?

http://vancouver.24hrs.ca/2015/02/19/rally-set-to-air-chinatown-concerns

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

keep chinatown chinese?

Best place on meth
Member
Best place on meth

@1

“Metro Vancouver belongs to Chinese and Indians as much or more than Europeans.”

It belongs to everyone except the thieving, money-laundering, tax avoiding communist kleptocrats who should be deported for lying on their visa applications.

That’s pretty much everyone who came here under the IIP program.

Royce McCutcheon
Member
Royce McCutcheon

Ugh. Enough.

Best of luck to everyone.

space889
Guest
space889

@patriotz – For someone who don’t know anything about China culture, don’t live in China, don’t talk to anyone who lives there, never mind anyone in government, and get your news solely from the occassional stories in Western biased media, you just know all about Chinese government policies and stances??

Wow, with such clarovariance, maybe you should turn your talents to other areas of forecasts for the betterment of mankind?

Geez….such arrogance.

space889
Guest
space889

@BPOM – Right……

So as long as it is your forefathers who did all the thieving, stealing, biological warfare and culture genecide, then it is all a-ok for you to live off their spoils right? hey, i didn’t do those terrible things, it’s done by my great-grandfather in a different time, and it is totally fine for me to enjoy those riches.

Brian Ripley
Guest
Brian Ripley
re: :TD forecasts dip in Calgary: Calgary and Edmonton housing sold off in price a year before the July 2008 oil peak and a year before Vancouver and Toronto buyers got the message that a housing correction was about to happen nationally: http://www.chpc.biz/6-canadian-metros.html Back then Canada was working on a large trade balance that had not yet rolled over: http://www.chpc.biz/history-readings/dollar-depreciation Now we are already in a national trade deficit (4 of the last 6 prints were negative) Maybe Albertans with their experience of the boom bust cycle are quicker to respond to macro issues. Oil failed to retest the July 2008 high of US$147 (May 2011 WTI was US$115 and the second failed test of August 2013 WTI was US$112): http://www.chpc.biz/tsx-indexes.html And now we have a CAD/USD plunging in advance of Vancouver and Toronto buyers expressing much anxiety: http://www.chpc.biz/canadian-housing-in-usd.html And… Read more »
realist
Member
realist

@6 Best place on meth
“It belongs to everyone except the thieving, money-laundering, tax avoiding communist kleptocrats who should be deported for lying on their visa applications.”

Entirely agree with your post, except that your sentence above would be more correct if it read “It SHOULD belong to everyone except the thieving, money-laundering etc” Regrettably, Vancouver property increasingly is owned by exactly those people…charitably characterised two decades ago by Hilda Thomas as “the world’s stray millionaires”.

hoax
Guest
hoax

PTT, There is a case to be made for a new and never before tax scheme. If you make $0 incomes, you should pay a higher rate.

PTT Rate should start at a punitive rate for those with $0 income, and then the rate reduces up to income $100K/year. And then starts going back up.

I coined this term “boomerang rate” for this crazy city, where if you work, you are destined to be poor. I should apply a patent for this term.

StupidityCheck
Guest
StupidityCheck
Royce – WTF do you expect us to be discussing in year 10 of this bubble? This city has sold out to Communist China. We welcome their billions of ill-gotten gains even though it is destroying the younger generation’s chances at living the typical Canadian lifestyle, which includes owning a home of their own. A “micro suite” just doesn’t cut it. Neither does renting indefinitely, even Patriotz couldn’t do that. The other day I was looking through Shaughnessy listings. Every listing agent except one was fluent in Mandarin. The lone exception (Les Twarog) had a team of Mandarin speakers on staff. We’ve long passed the cheap debt phase of this bubble. The markets driven by locals gorging on debt have all corrected. The remaining bubble cities: Vancouver, London, Sydney, Hong Kong, etc. are now being driven by the global 1%.… Read more »
realist
Member
realist

@9 space889
“So as long as it is your forefathers who did all the thieving, stealing, biological warfare and culture genecide, then it is all a-ok for you to live off their spoils right?”

Well no, not exactly. You’re quite right that the (illegal) exploitation of the country by immigrants is nothing new…a century ago in BC, some immigrants, if rich and English, were referred to as “remittance men”. BC and Australia/NZ were the British jurisdictions most remote from the UK, and consequently were disproportionately populated by “settlers” from the UK who needed to “get lost”. But I digress…that it happened before does not excuse it happening in 2015. Today, the “remittance men” get their remittances from a different “old country” across a different ocean, and are more accurately characterized, as Hilda Thomas did, as “the world’s stray millionaires”.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

“[Residents] don’t feel this is Chinatown anymore; what I commonly hear is it’s ‘Western Town’” – See more at: http://www.vancourier.com/news/vancouver-s-chinatown-faces-changes-and-challenges-1.1768370#sthash.r3c1p5Cv.dpuf

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

“In one of Canada’s most deeply-rooted Cantonese-speaking communities, the very sounds of Chinatown are at risk of being displaced by the incoming Western and Mandarin classes. ”

– See more at: http://www.vancourier.com/news/vancouver-s-chinatown-faces-changes-and-challenges-1.1768370#sthash.r3c1p5Cv.dpuf

Royce McCutcheon
Member
Royce McCutcheon

@12: There used to be meaningful data and discussion thereof here at times. It’s now officially left entirely.

I need cracked-out screeds on immigration and ethnic traits from hack internet ranters like I need a kick in the teeth.

Count me amongst the ranks of the departed.

realist
Member
realist

@ 12 StupidityCheck
“The remaining bubble cities: Vancouver, London, Sydney, Hong Kong, etc. are now being driven by the global 1%.”

Correct, especially the global 0.1%, and especially the global 0.1% whose money is, to put it politely, in potentially politically unstable countries without a long history of the rule of law. Most weeks there is an article in the world’s “respectable” MSM about the “ghost-towning” of certain desirable districts in London, Paris, etc. Vancouver, in this one regard, is a tier-1 city, and the foremost exemplar in North America.

space889
Guest
space889

@realist – Uhmm…if you look at any billionaire lists, US and Western Europe dominates that list. I doubt the proportion of 0.1% is massively located in China, USSR, etc.

Plus, all recent Landcorp survey shows that US citizens remain the biggest % of foreign buyers by a big margin. Even using a generous of assuming a person with mainland style pinyin names are foreign, their survey still indicates that the % of purchases by these people are still a very small %.

Seriously, would you be able to afford Vancouver West even if prices fall 75%??

Craigster
Guest
Craigster

@16 – me too. The racism and bigotry on this blog from both sides disgust me. This is my last visit to this page.

Best place on meth
Member
Best place on meth
@15 But it is true that certain kinds of administrative steps, rules and regulations, legislation, policies in schools and in the media in Mainland China have apparently started to have some bite. And there’s understandably a lot of anxiety about that.” As more Mandarin speakers move to places such as Vancouver, and Cantonese continues to be squeezed out of its own backyard, there is also bound to be flare ups of regional animosity. “There is a continuing stream of newcomers coming in,” says King. “And speakers of Mandarin from other parts of China can sometimes be very imperious when dealing with regional languages from other parts of China.” King says a recent “Ni Hao” billboard advertising the new condominiums at 188 Keefer was seen as a slap in the face to the local Cantonese community, as “ni hao” is Mandarin… Read more »
StupidityCheck
Guest
StupidityCheck

To the politically correct that can’t tell the difference between criticism of a corrupt communist country and racism, good riddance!

realist
Member
realist

@ 18 space889
Correct: the world’s richest 100 people, all billionaires, are predominantly in the USA & Western Europe. However, billionaires compose a small proportion of the top 0.1%. How accurate do you think wealth data are, especially from countries that are short on “transparency”? Moreover, the incentives to invest abroad are very different and more powerful for Mainland Chinese today and Hong Kong people of two decades ago, than, for example, Brits and Americans.

I cannot comment on Landcor data as I haven’t access. Are “US citizens … the biggest % of foreign buyers by a big margin” of SFH in CoV?

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

@20

cantonese need to stop being so stuck up and learn mandarin like the rest of us.

Shut It Down Already
Guest
Shut It Down Already

21, check yourself. Pretty sure calling people locusts doesn’t fall under the banner of insightful political debate.

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