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Corrupt in Canada
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Corrupt in Canada

http://www.bcit.ca/study/programs/630udiplt?utm_source=facebook&utm_medium=cpc&utm_term=pro-real-estate&utm_content=pro-real-estate&utm_campaign=institute-low-enrollment-q1-2022

Forget fake Chinese universities, we have our own institute of technology passing out….. real estate diplomas hahahaha.

patriotz
Member

How not to conduct a transit plebiscite

Of course this farce is happening because the provincial government, which actually controls Translink, doesn’t want to take the responsibility for a tax increase.

The writer talks how similar referenda have been conducted elsewhere, but doesn’t mention how the transit authorities concerned are mostly popularly elected.

LS in Arbutus
Guest
LS in Arbutus

@2 – patriotz

The transit referendum has been planned as poorly as the introduction of the HST. However in the latter case, they weren’t trying to lose.

Isn’t this the truth!

Up close, the sight of this referendum is not so awe-inspiring. And after it’s over, it’s likely to become a case study in what happens when you don’t have the time to properly lay the groundwork for such a vote: Bad strategies are devised. Panic sets in. Blunders are made. And eventually, a colossal opportunity is wasted.

patriotz
Member

Britain’s obsession with ownership has turned housing into a pyramid scheme

What if all we’re doing is sucking first-time buyers into a national Ponzi scheme, just to keep the boom rolling, and leaving them horribly exposed to negative equity if another crash comes?

Well someone, somewhere is willing to call a spade a spade.

vangrl
Member
vangrl

“Retail sales fell two per cent overall, the largest decline since April 2010.”

http://globalnews.ca/news/1840924/consumer-spending-plunges-amid-gas-price-drop-weaker-holiday-sales/

Son of Ponzi
Guest
Son of Ponzi

#4
talking about calling a spade a spade:
BPOM always calls a locust a locust.

southseacompany
Member
southseacompany
“The Present State of Real Estate in Canada”, Huffington Post http://www.huffingtonpost.ca/dan-s-barnabic/real-estate-canada_b_6903034.html “The chair of the US Federal Reserve, Ms. Janet Yellen, indicated on numerous occasions that the rates would go up incrementally as their quantitative easing was coming to an end. The head of our Central Bank, Mr. Paul Poloz, originally echoed the same sentiment, but then surprised everybody by his recent decision to lower the rates. His best intentions aside, in order to keep the economic pace with our southerly neighbours, he will have no choice but to follow suit once the Americans start raising the rates.” “The real question is how incremental interest rate increases may reflect on the present unsold real estate inventory. As a result of interest hikes, markets may slow down and turn the unsold inventory stock into oversupply. The two hottest hubs in the… Read more »
Brian Ripley
Guest
Brian Ripley

re: 40-50% drop by Hilliard MacBeth
What could cause the Canadian bubble to burst?
“…the more likely cause would be recession.”

I mashed up charts on Canada’s Retail Sales, Balance of Trade and Current Account which are all at or below the March 2009 pit of gloom levels.

http://www.chpc.biz/history-readings/the-bank-job

Low interest rates have not kept shoppers in the stores, perhaps discretionary spending has been replaced by interest payments and a renewed concentration on the monthly nut.

Son of Ponzi
Guest
Son of Ponzi

#8
the Ausie PM had to apologies for using the words Goebbels and Holocaust.
Soon rhe word “concentration” will be on the hit list.
Idiots.

W
Guest
W

@7

“The head of our Central Bank, Mr. Paul Poloz, originally echoed the same sentiment,”(huffpost)

Who’s this Paul Poloz fella?

shawn
Guest
shawn
This doofus over on HHV thinks we’re about to repeat 1986-1994. “The 1986 version of this 2015 movie had Victoria rise 175% between 1986 to 1994. – after remaining high & range-bound for years oil crashed for similar oversupply reasons to less than half its price in late 1985 – our currency tumbled from above par into the high 70 cent range, same as now – most resource prices fell sharply between 1981-85, and between 2011-2015 – everyone thought recession as GDP growth dove in 1986, but then the currency kicked things into high gear like timber, tourism, et cetera. – 1960-born BBs were turning 25 in 1985, their 1990-born BB kids are now turning 25. The difference this time is a far larger cohort of retirees. – mortgage rates fell sharply during both 4-year periods, ‘81-85 and ‘10-14 –… Read more »
VMD
Member

Entire New 13-Story Building Tips Over in Shanghai
This past Saturday, an entire apartment building in Shanghai collapsed. To be fair, the building was under construction and thus unoccupied, but it’s still a minor miracle that there was only one fatality.

UBC in crisis mode
Guest
UBC in crisis mode
elvince
Guest
elvince

Interesting piece in thestreet.com about investing in social media stocks. One could replace “social media stocks” with “Vancouver condo” and the whole article would still fit:

http://www.thestreet.com/story/13057213/1/why-investors-keep-buying-social-media-stocks-even-if-theyre-overvalued.html

In other words the famous “greater fool paradox” is now hard at work: These stocks keep rising because if you buy shares today, you can feel confident that another lemming will come along behind you willing to buy them at a still higher price later. Eventually, one lemming will be left holding the bag, but who knows when that peak will come.

VanRant
Member
VanRant

@VMD
Think it happened a few years ago, not the past saturday but neverless, this may be richmond in a few years as they put up more and more Hi-rises on questionable foundation.

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

@VanRant

come on. for now at least, richmond is still part of canada and uses canadian engineering practices and has a good planning and approval department in city hall.

they drive piles into bedrock for richmond high-rises. they may use other methods, but that’s the one i’ve seen and know about.

space889
Guest
space889

@VMD – That’s from way way way back in 2009 and already posted multiple times on this blog already. Geez….I would have expected higher reporting standards from you!

space889
Guest
space889

@Bull! Bull! Bull! – I would hope so but it does sound awefully expensive, especially if the solid bedrock is 10, 20, or 30m underground.

I’ve heard that Shanghai is sinking at the rate of 1 in/per due to the weight of all the towers and draining the underground aquafiers. There are cases of staircases build pre-1900 that are now halfway underground.

space889
Guest
space889

Maybe this blog should post topics actually related to its name rather than just leave it stale for weeks on end. It is called Vancouver CONDO info and there are lots of condo/TH projects happening in Vancouver and GRVD.

Son of Ponzi
Guest
Son of Ponzi

bbb,
Bedrock in Ditchmond?
TOFU soil is the right term.

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

@Son of Ponzi

if we are going to get technical, they don’t really use piles but chop-sticks instead. but let’s not split hairs.

Son of Ponzi
Guest
Son of Ponzi

Anything build beside a river is basically build on a floodplain and subject to sinking.
In Budapest there are many older buildings along the Danube, which are almost a metre below ground level.
Build in Richmond at your own risk.

Son of Ponzi
Guest
Son of Ponzi

#21
actually they are using wooden piles.
So your analogy is not that far off.
And guess what, wood rottens.

Yunak
Guest
Yunak

It is imperative for local RE business to cram up as much as possible people in Richmond. Once when saturation reaches the maximum and supply from the motherland gets slower the authority could declare Richmond dangerous and non-livable due to sinking or something like that, so citizens will start a second wave of migration (local) toward other parts of the Lower Mainland causing another RE frenzy, presale line-ups, bidding wars, spikes, etc. Basically an ideal business model that rely on Richmond’s citizens RE obsession and use them as a vehicle to keep business running (recycling).

Son of Ponzi
Guest
Son of Ponzi

#24
one possible scenario.
My vision is more in line of a “Chinese Blade Runner”, where Richmond will be cut off from the rest of the Lower Mainland, leaving it’s citizens to fight for themselves.

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