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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patriotz
Member

@92: ” I was talking about the monthly “costs” to own an apartment compared to renting.”

You were talking about the monthly cash flow requirement actually.

That’s why I like to use proper terminology – it avoids useless debates like the one above.

tedeastside
Member
tedeastside

1 million people moving to a region with laughable job opportunity

yeah ok

Oracle
Guest
Oracle

China and Canada announced a special 10 year visa for citizens of both countries. For any purpose.

Sources tell me that it was to by pass the limits on parents and grandparents applications. Also, the Chinese gov put pressure on Canada to exempt its parents from the Supervisa program.

So there it is, tens of thousands of elderly will be coming to our shores in the next few years. Make sure you have a good family Dr and access to specialists.

Oracle
Guest
Oracle

Jim Pattison is leading the yes side and today he says he expects at least 1 million more people here by 2030.

How are you going to go against billionaire firepower like that. He IS Surrey city council for those that haven’t figured it out yet.

vangrl
Member
vangrl

#90

It is what it is. I was talking about the monthly “costs” to own an apartment compared to renting.

More people can afford $1400 than $1850 to live in a 1 bedroom apartment, hence the lack of appreciation in the attached market.

that’s all.

88
Guest
88

@85

It’s nothing new. Here is the PriceMart in Richmond:

http://i.imgur.com/cOc31jx.jpg

I wouldn’t call it international though. I’d call it purely local.

Shut It Down Already
Guest
Shut It Down Already

89, check yourself. You can’t meaningfully compare all-in monthly mortgage payments (principal+interest) with monthly rent. It’s not apples to apples.

StupidityCheck
Guest
StupidityCheck

Shut it up already, I pointed out why you are the one who is wrong. See comment #78 and stop being so arrogant.

Shut It Down Already
Guest
Shut It Down Already

Thanks for voting me down – just goes to show that nobody here is interested in facts, only mindless groupthink.

Principal repayment is not an expense – deal with it. Not even patriotz would nitpick that.

history
Guest
history

no need to visit Chinatown, Chinatown comes to you! email in my mailbox… An email address i only use in two places, one of those places is VCI.

“Hello,
“Can you partnership and work with me for benefit ?.if yes answer the questions by replying back to my private email ( lin.linss@aim.com )”
Regards,
Lin

Oracle
Guest
Oracle

Guys, why the downvotes?

The machine is too powerful. Might as well join the multicultural side. It’s not bad as long as you own housing, which the majority do.

Oracle
Guest
Oracle

Just was at Fleetwood neighbourhood in Surrey.

Jim Pattison opened a International version of his price smart store. Many Asians and South Asians at the grand opening. Great concept.

Only wish he would have devoted more area to south Asian food.

This area is the next majority Asian area of metro vamcouver. Predict million dollar detached homes here within 5 years.

Newcomer
Member
Newcomer
realist
Member
realist

@ 60 & 61 history:
“Starting to get the feeling HSBC fraud story is taken from a Grisham novel.”

ROFL. Better than any novel! Nothing new here, started with the John Company, well before (and helping precipitate) the First Opium War.

http://www.zerohedge.com/news/2015-02-16/hsbc-bank-secret-origins-laundering-worlds-drug-money

The recent shenanigans (2013 onwards) well covered in Private Eye and some of those British MSM recently found wanting, such as the Guardian:

“The US department of justice said HSBC had moved $881m for two drug cartels in Mexico and Colombia and accepted $15bn in unexplained “bulk cash”, across the bank’s counters in Mexico, Russia and other countries. In some branches the boxes of cash being deposited were so big the tellers’ windows had to be enlarged.”

http://www.guardian.co.uk/business/2012/dec/14/hsbc-money-laundering-fine-management

See also Matt Taibbi:

http://www.rollingstone.com/politics/news/gangster-bankers-too-big-to-jail-20130214

patriotz
Member

@79:

Exporting bottled drinking water is essentially the same as exporting beer, except nothing is added to the water. It’s not a resource export any more than exporting beer is. It’s value added – just ask Perrier.

When China wants bulk water imports they’re going to get it from Siberia, which is the only place it can be transported from economically.

doug r
Guest
doug r

Average wage in US went up $0.03 last month but $0.13 the month before. That’s 4% annualized averaged between the two months-I can see US interest rates creeping up soon as well.

Oracle
Guest
Oracle

Petition to give Immediate Permanent Residency Status for the 500,000 TFW and 300,000 International students here launched.

Government is on side as the economic situation is fragile and Canada can’t afford to lose these people.

Lets support this and give these people a PR.

We can always import more TFW when the economy improves.

@88
Guest
@88

You haven’t bought?

I bought 100 million litres of water for $250.

Securing the future of our family.

If you haven’t heard, Canada’a resources are for sale to the highest bidder. You are just a unit of labour now.

88
Guest
88

China thirsty for BC water, investors buy up sources

http://usa.chinadaily.com.cn/world/2015-03/07/content_19743180.htm

StupidityCheck
Guest
StupidityCheck

77 – She was only looking at monthly carrying costs, not return.

Shut It Down Already
Guest
Shut It Down Already

67, exactly – that mortgage calculator only presents the total monthly payment. You’re counting the principal as an expense, which is incorrect.

88
Guest
88

Vancouver supermodel Godfrey Gao is new face of Canadian tourism in China

http://www.vancitybuzz.com/2015/03/vancouver-supermodel-godfrey-gao/

Best place on meth
Member
Best place on meth
@66 >>>What will make you more successful is learning a market demanded skill, getting a better salary, and entering Life’s “Winners Circle.”<<< Thanks Tom Vu, for that uplifting sermon. I'd love to get into the "Winners Circle", but let's say I have a serious aversion to lying, cheating, stealing, fraud etc…and I didn't have the benefit of growing up in a thoroughly corrupt and shameless culture where this kind of aversion doesn't exist and bad behavour is the norm. http://www.telegraph.co.uk/news/worldnews/asia/china/10132391/Riot-after-Chinese-teachers-try-to-stop-pupils-cheating.html How do I overcome my way of thinking so that I can be more like a locust, get ahead and enter life's "Winners Circle" the way you have? Things like morals and ethics are such a hindrance… a burden that I wish I could cast off so that I too could have a better life. Thanks again for trying to… Read more »
vangrl
Member
vangrl

It’s so weird that we don’t have sales stats. Almost immediately after selling, there is not even any info on the address ever being listed. Let’s wipe out all evidence that a sale even happened…

southseacompany
Member
southseacompany

CBC:
“Real estate brokers defy TREB, vow to publish home sales stats”
“We have the right to say what homes are selling for, real estate brokers say”

http://www.cbc.ca/news/business/real-estate-brokers-defy-treb-vow-to-publish-home-sales-stats-1.2984866

“Two of the three brokers who shut down their online service this week after receiving a threatening letter from the Toronto Real Estate Board have decided to get back in the game.”

“It’s just the latest development in an ongoing war over the traditional industry’s monopoly on vital real estate information.”

“In an ongoing battle, Canada’s Competition Bureau is to resume its case against TREB in May. The bureau wants to break the board’s monopoly over vital real estate information like sales stats. It’s a test case that could affect other real estate markets in Canada.”