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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Son of Ponzi
Guest
Son of Ponzi

#71
“where will they go next?”
———-
Run for Government, of course.

tedeastside
Member
tedeastside

vancouverites aren’t known as financially savvy folk.. that town couldn’t even handle a stock exchange,… the same people who ran the VSE into the ground went into Real Estate, after they kill that where will they go next ?

patriotz
Member

@69:

Under the Divestment Order I have issued today, the company now has 90 days to dispose of the property or the matter may be referred to the Commonwealth Department of Public Prosecutions.

And the punishment is – they have to sell it to someone else! Ooh.

The government last month proposed that illegal purchases by foreigners would potentially result in a civil penalty of as much as 25 percent of the value of the property when they are forced to sell it.

“Proposed”. “Potentially”. What a joke.

flaneur
Guest
flaneur

@#37 says: “In Oz they are starting to get serious ……”

There are hundreds (even thousands) of ‘non-resident foreign nationals’ buying established dwellings as homes or investments in Austrlia. However, the FIRB is using the sale of “$39M Point Piper trophy home” to set an example for reasons to blatant to ignore.

To quote the news article:
“The Treasurer said the property was bought illegally by Golden Fast Foods, which is ultimately owned by Evergrande Real Estate Group, a large company listed on the Hong Kong Stock Exchange, via a string of shelf companies including in Australia, Hong Kong and the British Virgin Islands.”

“Golden Fast Foods is a foreign-owned company which failed to notify FIRB of its intended purchase.”
http://www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/trophy-homes/40744-villa-del-mare.html

Oracle
Guest
Oracle

Who the fuck said its racism hahahah?

I’m Asian. And I know the loopholes the latest immigrants use to their advantage. Us 3rd generation immigrants are not going to be at a disavtange if we can do anything about it. First we have to start with the corrupt politicians.

vangrl
Member
vangrl

shut it down-

i was using this calculator

http://www.canadamortgage.com/calculators/convhighratio.cgi

hahahah
Guest
hahahah

Lolz. It’s like each person that recommends BPOMs posts is self-idenfiying as a failure in life….

News Flash – “thumbing” a comment isn’t going to create any change in your life. What will make you more successful is learning a market demanded skill, getting a better salary, and entering Life’s “Winners Circle.”

Sitting on your ass everyday crying about how “Chinese” people stole your chances is going to guarantee one thing: continued failure in life.

hahahah
Guest
hahahah

“BPOM always make 3 points

1 – Non-western worship Chinese people are scums and locusts and need to be exterminated.
2 – China is a hellhole that needs to be nuked and is responsible for all his problems
3 – owners suck”

LOL.

I remember i read on here a few weeks ago BPOM startled babbling about how he actually wants to leave Vancouver…..Yet a month later? He’s still spinning his wheels. I suspect he mirrors 99% of the regulars on here. Too lazy to get off the couch to do anything meaningful.

Meanwhile, I went back to China on business, and had a nice hiatus on the beach. Good times

hahahah
Guest
hahahah

The racism on this board is a symptom of a greater problem.

These greater problems include a debt-addled, confused, government coddled population that is unable to look it the mirror and seriously self-reflect.

it goes without saying Canadians are their own worst enemies. Sadly, expect this trend to continue, as in Canada circa 2015, its fashionable to hate on Jews, Arabs, Chinese, Indians, Aboriginals…..Canada casts a wide net in its parochial ethnic bashing,

Hicks like Best Place on Meth, who obviously have had a troubled time, are just logical outcomes from the complete clusterfuck that is Canada circa 2015, with its 8 straight deficits, record consumer debt, worst job quality creation in 30 years, “war on terror” narrative, and a Central Bank that has painted itself into a corner.

hahahah
Guest
hahahah

In China, Caucasian Canadian firms send orders because local Canadian workers are too nanny-state addled to do the work themselves, so the orders are outsourced via vendors to Mainland China.

Not only do simpletons like Best Place on Meth not understand that his own betters in Canada have already outsourced his job, he is too stupid to realize these orders are just being processed per the design requirements of the retailers – THE RETAILERS ARE DEMANDING TOXIC SHODDY DOLLAR STORE PRODUCTS because that is the prevailing demand requirements for simpletons like Best Place on Meth, largely due to being debt addled and without sufficient disposable income to afford higher quality products.

Best place on meth
Member
Best place on meth

@58

“Proving once again that what the Chinese are really good at is copying the creative ideas of others.”

Copying, stealing, cheating, reverse-engineering…..the fuckers have no shame whatsoever – they think this is acceptable behaviour.

Over the last 150 years the Americans for the most part created the things that changed the world…computers, internet, phones, light bulbs, airplanes, cars, space exploration….the list goes on and on.

What has China given the world during that time other than toxic, shoddy dollar store products?

Seriously, what a shithole.

history
Guest
history

http://medialens.org/index.php/alerts/alert-archive/2015/788-a-conspiracy-of-silence-hsbc-the-guardian-and-the-defrauded-british-public.html

Starting to get the feeling HSBC fraud story is taken from a Grisham novel. The other feeling i get is the oft worn phrase “what doesnt kill you makes you stronger”,
iow HSBC will very likely survive the rot within its organization, endemic to many a trans national bank notwithstanding Canada’s top 6.

history
Guest
history
Shut It Down Already
Guest
Shut It Down Already

Vangrl, did you include mortgage principal in your “costs”? Hard to say, obvioulsy, but it seems like you may have done.

renters rule
Guest
renters rule

@whatever

Proving once again that what the Chinese are really good at is copying the creative ideas of others.

Whatever whenever
Guest
Whatever whenever

Bears always make 3 points as well
1 – this is it! This is the year RE is start going to fall! All the moron owners and borrowers are going to get it!
2 – it is all Chinese fault we can’t buy a big house and calling them scums and locusts are not racism cuz we said so. But anyone who dare speak up is a commie loving moron. Anyone who would post anything negative about Canada and non-Asian is a racist
3 – Owners suck

Whatever
Guest
Whatever

BPOM always make 3 points

1 – Non-western worship Chinese people are scums and locusts and need to be exterminated.
2 – China is a hellhole that needs to be nuked and is responsible for all his problems
3 – owners suck

Re-diculous
Member
Re-diculous

In other news, based on the market action and the moves in bond yields yesterday (Friday) fueled by yet another stellar US jobs report – it appears almost a certainty that the US Fed will begin the raising rates sooner rather than later…..the tide has turned……how fast it will go out is the only issue.

Re-diculous
Member
Re-diculous

@50 Mister Obvious….thanks for the laugh, that was good.

Mister Obvious
Guest
Mister Obvious

@51 Zero Down Fory

Thanks for correcting and further fleshing out my list.

Pauldo
Guest
Pauldo

I called Pauldo asking where the daily numbers are. He said he busy count cash suitcases fill multiple offers one is all cash over 2 million in five dollar bill’s. All offer s from local white people’s

Zero Down Forty
Guest
Zero Down Forty

The city did not really ‘do nothing’ when the financial crisis hit. You missed a few extra steps that occurred in the process;

1.Developer can’t take ownership of the land until after the Olympics.
2. Having no property as collateral, the developer can’t get financing from a bank and goes to a US hedge fund (Fortress)
3. Fortress call in their loan when the US financial crisis hits.
4. City goes to the Province to get special legislation allowing it to become a bank and loan the developer money.

Mister Obvious
Guest
Mister Obvious
@41 M Didnt they manage to lose money on the Olympic village in a real estate bubble? How can you lose money in real estate in real estate bubble?? —————————— Since you asked M, here’s a ten step guide… 1. Make a successful bid for the right to hold a three-week international winter jock festival seven years in the future. 2. Accept full responsibility for construction of an elaborate ‘village’ where bobsledders, snowboarders and ice skaters can party together with politicians, journalists, organizers and various other social butterflies and hangers on. 3. Locate this facility on contaminated land that has been the site of largely unregulated industrial activity for the past hundred years. 4. Wait until the last minute to put out calls for construction bids. Make sure the successful bidder gets stuck with all the inevitable environmental cleanup costs.… Read more »
Lurker
Guest
Lurker

Where can I find sales prices of False Creek leaseholds?

transit
Guest
transit

I just can’t help thinking that if I vote yes on the translink plebacite I will be paying for transit that neither me nor my descendants will use because we will have been pushed out of the city.