FFFA! Debt, Zoocasa, Sellers, Economy, Rates

It’s the end of another work week and that means it’s 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:

Realtor Hunger Index at 54%
Savings rate hits 5 year low
Zoocasa to stop publishing data
First Sellers market in 4 years
No more rate cuts?
Highest gas prices in North America
How do you make a return?
Sell your toys, don’t buy a house
Squamish bankruptcy for Rommel
What to talk about instead of RE?
Consumer debt hits $1.53 Trillion

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

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MARBRY
Guest
MARBRY

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Cogat Exam
Guest
Cogat Exam

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Londonernow
Member
Londonernow

Re comment 112. You do realise that all the environmental concerns re the Keystone Pipeline is cover for the fact that Buffett owns the railways and is a massive Obama supporter. As such, Buffett doesn’t want the pipeline so its not going to happen. All political decisions are quite simple really if you follow the money.

StupidityCheck
Guest
StupidityCheck

Yes, the phoney clueless “realtor” is back. Yay.

VanRant
Member
VanRant

Welcome back Westside Realtor! I hope Oracle will fade into the sunset.

space889
Guest
space889

Road Rage in Vancouver, driving is getting to be a close body contact sport.

http://globalnews.ca/news/1871953/road-rage-incident-in-vancouver-with-instant-karma-caught-on-video/

Westside Realtor
Guest
Westside Realtor

Sales rush will fade.

Market remains tired, despite the shot of adrenalin from the BoC desperation rate cut.

WSR

southseacompany
Member
southseacompany
“IMF sounds fresh alarm over Canadian housing market”, Globe & Mail http://www.theglobeandmail.com/report-on-business/international-business/imf-calls-for-more-data-tighter-standards-in-canadas-housing-market/article23378421/ “The International Monetary Fund is raising red flags about Canada’s housing market, warning that moves by Ottawa in recent years to tighten mortgage lending standards and boost oversight of the country’s financial system haven’t gone far enough.” “Home prices have jumped 60 per cent in the past 15 years and remain overvalued from 7 per cent to 20 per cent, in line for a “soft landing” over the next few years, the IMF said.” “At the same time, it reiterated its call for Canada to collect more data on its housing market and to centralize oversight of the financial sector. ” “While the growth of mortgage insurance has slowed as a direct result of Ottawa’s push to tighten lending rules, the international organization renewed its calls for CMHC… Read more »
southseacompany
Member
southseacompany
“Housing starts fall sharply across Canada — even in Vancouver”, Business in Vancouver. http://www.biv.com/article/2015/3/housing-starts-fall-sharply-across-canada-even-van/ “Data released March 9 from the Canadian Housing and Mortgage Corporation shows housing starts dropped from 187,000 units in January to 156,300 units in February.” “Metro Vancouver — known for a hot housing market that frequently defies trends throughout the rest of Canada — even saw housing starts fall from 16,650 units in January to 13,400 units in February.” ““Any way you slice it, today’s housing starts release was among the weakest prints we have seen in some time. While in part weather induced, thanks to the harsh February weather in much of Canada, the trend is clearly toward weakness in the housing market,” Randall Bartlett, senior economist at TD Economics, wrote in a note to investors.” ““As a result, we expect that the housing market… Read more »
Finished
Guest
Finished

this is how our dumb Mayor and council work.

drive down Granville, the same thing is happening as happened on cambie.

One or two realtors from a certain background have haorded all the property and are selling it to developrs for ‘densification’

then expensive condos and town houses go up that are sold to mainlanders for prices no tax-paying local can buy. many are left empty.

then mayor and council say, “look we are densifying and have added x,000 more units. Now that we are denser, you smucks (yellow, brown, while-makes no differenc)who pay taxes, pay for the transport systemt too, oh and pay for more cops to protect the inesvtments of these mainlnd chinese too please”

the only thing getting denser is the mayor and council intelligence.

paulb
Member

New Listings 356
Price Changes 94
Sold Listings 154
TI:13202

http://www.paulboenisch.com

patriotz
Member

China warns Ottawa MPs not to hear from Hong Kong democracy leader

Harper has made increasing trade links with Asia a major economic priority, in part because of his inability to persuade the Obama administration to approve the Keystone XL pipeline that would allow oilsands crude to be pumped to the U.S. Gulf Coast.

Antagonize our neighbour, and end up being forced to suck up to dictators.

Top comments:

Will Mr. Martin Lee’s name also be engraved on Mr. Harper’s upcoming “Victims of Communism Monument’: Along with the millions upon millions of past and current victims of the Chinese Communist regime? Huh? Huh?

Randy Randerson
Guest
Randy Randerson
http://business.financialpost.com/2015/03/09/pimco-dumps-canada-bonds-as-risk-rises-on-bank-of-canadas-stephen-polozs-confusing-messages/ “Yields on two-year Canadian bonds have swung in a 20 basis-point range since the Bank of Canada surprised investors by cutting borrowing costs Jan. 21 and Poloz said he would take out more “insurance” if needed to insulate the economy from the damage of falling oil prices. Investors anticipating another cut were caught off guard when Poloz said Feb. 24 he wanted to “see how the economy actually responds” to monetary easing, a week before the following rate-setting meeting. Devlin, who said he’s been reducing his allocation to federal government bonds in favor of provincial bonds, inflation-linked debt and bank deposit notes, isn’t alone. David Rosenberg, chief economist at Gluskin Sheff & Associates, said last week Poloz has created so much confusion among investors he’s risking his credibility.” “Rosenberg, who is credited with predicting the U.S. subprime housing crisis… Read more »
VanRant
Member
VanRant

Hey Oracle, We like Westside Realtor better so please bring him back and make Oracle disappear.

Cabo
Guest
Cabo

….so at the same rate it would take about 25 years to add a million…..

Past performance is no guarantee of future returns. 🙂

Yunak
Guest
Yunak

@102

Statscan says Vancouver CMA grew by a bit under 200K people between 2006 and 2011

Maybe Locusts are excluded from Statscan statistics because they don’t qualify as people but species of short-horned grasshoppers in the family Acrididae?

Oracle
Guest
Oracle

I just can’t believe people here can’t see Patriotz true intentions.

I guess you lie in the bed you make.

Oracle
Guest
Oracle

Sure, cite Statesman when it is convenient Patriotz, er Immigration Canada Employee..

Why don’t you add that TFW and IMP and Foreign Students and Supervisa Residents and 10 year China tourist visa residents, etc. are not counted in this?

How convenient.

patriotz
Member

@101

Statscan says Vancouver CMA grew by a bit under 200K people between 2006 and 2011 (less than 2% annually), so at the same rate it would take about 25 years to add a million.

Nom Nom Nom
Guest
Nom Nom Nom

I would love to seee the methodology behind the “1 million people moving here” marketing line?

sounds like a bunch of BS to me

NNN

space889
Guest
space889

@88 – I wouldn’t call $2.5 per 1M L of fresh water selling to the highest bidder, unless you are talking about BC Lib campaign donations from big corps.

In fact, I would label that as betrayal of BC people and public interests at best. Calling it a total sellout and treason is very reasonable in my view.

Son of Ponzi
Guest
Son of Ponzi

#98
Sure, you’ll be the life of the party when you’re starting to sprinkle your conversations with “escape velocity” and “price elasticity” during a casual chat with the parents at the rink.

patriotz
Member

@96: “Most folks just say “cost””

Which is the problem, e.g. “my Apple stock cost $5000” (ACB, investment), “my rent costs $1500/month” (flow, consumption). Two completely different things. A mortgage payment is a mixture of both.

@97: “if we all would start talking like accountants and economist, life would be much easier.”

For sure, and a great start would be if the “experts” you hear in the media would start talking like real accountants and economists, i.e. people who have to take responsibilty for investment returns.

Son of Ponzi
Guest
Son of Ponzi

#96
if we all would start talking like accountants and economist, life would be much easier. 🙂

vangrl
Member
vangrl

I’m sure you’re right Patriotz.

Although you don’t typically hear folks say- “My rent cash flow requirement every month is…..” or “My cash flow requirement to own this place is …. a month”

Most folks just say “cost”