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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Guy Smiley
Member
Guy Smiley

Re: Unlike the mayor of Vancouver, Jason Kenney meets Dalai Lama

What a spineless, panda-pandering dickmonkey of a mayor we have. I haven’t heard a story about him for months that hasn’t made me angry.

TransLink earns Lifetime Achievement Award for a decade of waste, tax hikes

Vote NO!

patriotz
Member

Canadian household debt grows almost 5 per cent in January, RBC says

Bad as things are, debt did not grow almost 5% in January. Rather, it grow almost 5% in the year ending January.

Most of the growth came from new residential mortgages, which rose 5.4 per cent in January compared to a year earlier, to nearly $1.3-trillion.

Could we get some writers (I think “reporters” is putting it too strongly) who passed Grade 8 math and Grade 12 English? The actual fact, of course, is that residential mortgage debt was 5.4% higher in January than it was in January 2014.

keep Chinatown Chinese?
Guest
keep Chinatown Chinese?

Vancouver’s Chinatown shouldn’t be new Yaletown, says heritage advocate

http://www.cbc.ca/news/canada/british-columbia/vancouver-s-chinatown-shouldn-t-be-new-yaletown-says-heritage-advocate-1.2979173

“We’re seeing that Chinatown’s character is changing very rapidly”

“As these changes happen, Chinatown is at a threat of being no longer Chinatown, but a new Yaletown, a new Gastown.”

“…respect the character of the neighbourhood.”

“They’re seeing some of their grocery stores close or be redeveloped and new shops coming in that are not the same sense of community and belonging they had in the past.”

Loon
Guest
Loon

Funny how there isn’t a single peep when the weather is bright and sunny, but when it rains: “omg Van is the worst !”

I still love you Vancouver, even when you piss down on us for days on end.

boobies
Guest
boobies

Dave must be kicking himself for selling out right before things start to take off again.

Best place on meth
Member
Best place on meth

You know what this city needs to spruce it up a bit this time of year?

Some nice “Operation Fox Hunt” banners displayed prominently around town.

This joyous occasion should be celebrated just like any other festival.

I wonder what city hall would say if it was suggested to them.

Or we could just make our own banners.

space889
Guest
space889

Riding the Canada Line to work this morning and have to be subjected to incessent whining again about how Van RE is so damn expensive, you have to have parent’s equity to buy a house, even if your family income is the average $150K/year, it is so unfair having to work in Vancouver and move to Langley to buy a house….geez…

I guess she didn’t get the memo about how awesome renting is. Everything is awesome when you are renting and part of the bear team! Everything is awesome when you are renting and part of the bear team!

Everyone sing it!

Softy
Guest
Softy

When the horse has already left the barn, what good is hunting foxes? Vancouver has been irrevocably transformed over the last 15 years. The good old days are gone for good.

For the future, look east of Fraser street, as far east as Maple Ridge.

Slagathor
Guest
Slagathor

…“We’re seeing that Chinatown’s character is changing very rapidly”…

Yes, it’s growing to encompass all of Vancouver.

Slagathor
Guest
Slagathor

….Funny how there isn’t a single peep when the weather is bright and sunny, but when it rains: “omg Van is the worst !”…

Funny how a week of sunshine can make one forget the previous 51 weeks of rain.

Apparently, BC still has the most potent laughing lettuce in the world.

space889
Guest
space889
renters rule Says: March 3rd, 2015 at 9:02 pm 114 parasitic: Unlike predators, parasites typically do not kill their host, are generally much smaller than their host, and will often live in or on their host for an extended period. ——————————————————————- Hmm….this got me thinking…since everyone here is constantly harping about how renting is great and subsidized by the owner. So basically renters are like parasites that suck on the generosity of the landlords as they do not pay the full economic cost of their shelter and instead rely on subsidies by the landlords. Taking a more general view, if Canada is viewed as the collective host, then basically anyone who is a net tax drain (taxes paid vs cost of services used) is also a parasite by this definition. Basically these people take more out of governments than they… Read more »
Son of Ponzi
Guest
Son of Ponzi

Chinatown is finally getting the recognition it deserves:
The Birthplace of Vancouver.

space889
Guest
space889

@Slagathor – I guess those people like the grungy run down look and feeling of the neighborhood, with all the attendent crime, homeless pan handling, drug usage, hookers, slum buildings, and general decline than revitalization that involves non-Cantonese speakers moving into the area. To each their own.

But realistically, when’s the last time any of you actually went to shopping in Chinatown? Most young people are going to T&T and avoiding Chinatown altogether now

Son of Ponzi
Guest
Son of Ponzi

#13
no need to go to Chinatown for the Chinese experience.
Richmond got it all.

Brian Ripley
Guest
Brian Ripley

“What to talk about instead of RE?”

I just updated my TSX Indexes chart (Energy, Real Estate, Financials, Gold) and the BoC Commodity Index:

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

Divergence is showing up now between the TSX Real Estate and Financial Services indexes with financials turning down much earlier than at the 2007 top.

Brian Ripley
Guest
Brian Ripley

“First Sellers market in 4 years”

Well, on my “Real Long Bond” chart I give the bulls an argument to continue buying:

http://www.chpc.biz/real-interest-rates.html

But I don’t trust my own scribbling.

Best place on meth
Member
Best place on meth

Strong US jobs numbers have both stocks and bonds spooked today.

It looks more likely that the Fed begins hiking rates this June.

Economies of Europe, China and Japan are dead in the water – the US is now the only game in town and that’s where the capital will flow.

Best place on meth
Member
Best place on meth

Stats are out for Feb.

Prices from a month ago:

Detached +1.6%
Condo +1.0%
Overall +1.3%

And how do you like these apples, Whistler condos up 4% mom and 36% yoy.

It ain’t over yet.

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

>But realistically, when’s the last time any of you actually went to shopping in Chinatown

no one on this blog goes to chinatown because they don’t have english signs or english speaking staff… despite chinatown existing for 100 years

squeak
Member
squeak

#6: Horses out of the barn?

Just announcing there is a “Fox hunt operation” is telling the foxes to run. Should not this be done quietly under the radar?
So now, the money has been “laundered” somewhere else.. and people are very creative.

I am not a specialist in this, but sometimes I wonder about competence. And where there is nepotism, there are the dull bulbs, regardless of country.

space889
Guest
space889

@Best place on meth – US decoupling and is an island oasis free from world economic turbulence….I think that’s been disproven multiple times already….but then again, I really shouldn’t be surprised by such stupidity.

devoid of reaosn
Guest
devoid of reaosn

The migrating Millionaires of the world. Going where they will hassled and taxed the least but still feel safe…makes you feel almost warm and fuzzy that these vulnerable nomads go where they can escape all social responsibility.
https://ca.finance.yahoo.com/news/where-most-millionaires-moving-fleeing-175941291.html

StupidityCheck
Guest
StupidityCheck

spacey, I know it gives you heartburn, but BPOM speaks the truth. Your beloved hellhole, OTOH, is not looking too good. There’s only so much cheap, defective crap you can dump on world markets, and only so many ghost cities you can build before the house of cards collapses. Why do you think all those kleptocrats are so anxious to leave?

Best place on meth
Member
Best place on meth

@22

I’m surprised you were actually able to decipher spaceturd’s chinglish, or Yoda-speak, or whatever the fuck that was.

Obviously the angry commie doesn’t understand capital flows.

Slagathor
Guest
Slagathor

…..Whistler condos up 4% mom and 36% yoy…

During one of the worst seasons they’ve ever had? I’m not buying it (literally).

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