Friday Free-for-all! Let’s go weekend!

It’s that time of the week again… 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:

Mort. Insurance fees hurt 1st timers?
1/3 new owners use cash from family?
Rates. How low can they go?
Sunshine coast 2014 market summary
No gold watch for you!
BC LNG projects threatened by glut
Economic hit spreads beyond oil patch
Does oil price affect Vancouver RE?
Low rates hurting investors?
Salesman predict decade long boom
Divergence between TSX and financial services
John Bairds new job

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

@doc: ” saying it’s a bubble every second post does not make it a bubble. ”

Indeed. This does:

Investors are prepared to buy houses they will rent out at a loss, just because they think prices will keep rising—the very definition of a financial bubble.

http://www.economist.com/node/4079027

tedeastside
Member
tedeastside

so people are leaving Miami Beach for the warm Turquoise water and white sand of Jericho Beach ….makes sense to me!! thought i saw Lebron and Jay Z at lululemon the other day

patriotz
Member

Social-housing project on site of Little Mountain reopens

The province still holds the title to the land to make sure it gets the replacement social housing – plus an additional 10 units – from the developer.

So who – if anyone – is paying the property taxes? If the developer doesn’t have to pay them, isn’t that an incentive for them to drag their feet?

Brian Ripley
Guest
Brian Ripley

re: “Divergence between TSX and financial services” 1/2

I have noticed that the spread between TSX Real Estate and TSX Financial indexes has been widening. It did so as well in 2007.
Chart: http://www.chpc.biz/tsx-indexes.html

There are some similarities. We have a strengthening CAD and a correcting USD which will probably allow the beaten up commodity sector to rally this spring-summer and that should fuel 2Q 2015 real estate sales especially with no rate hikes in view…

Brian Ripley
Guest
Brian Ripley

re: “Divergence between TSX and financial services” 2/2

…but widening credit spreads going into 3Q could upset the apple cart for the bulls. My yield curve chart does show some widening,
Chart: http://www.chpc.biz/yield-curve.html

…no big deal yet, but it was an indicator in 2007 and part of the prelude to the crash.

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

Measles confirmed at Terry Fox Secondary School

Vancouver Coastal Health says student’s case linked to infections from Air China flight from Beijing

http://www.cbc.ca/news/canada/british-columbia/measles-confirmed-at-terry-fox-secondary-school-1.3027435

southseacompany
Member
southseacompany
“Brace for market turmoil: exPimco CEO”, Financial Post http://www.pressreader.com/canada/national-post-latest-edition/20150410/282406987871380/TextView ““We cannot continue in a world where central banks do all the heavy lifting and investors ignore everything else,” El-Erian said in a speech to the Economic Club of Canada in Toronto.” “Equities and bonds have been in a sustained period of low volatility for nearly three years, stabilized by large quantitative-easing programs from central banks such as the U.S. Federal Reserve, the Bank of Japan and the European Central Bank.” “That has driven bond yields in the Western world to new record lows” “The former heir apparent to Pimco is not the first to suggest that the current market environment can’t continue. Most of the discussion has been centred on the U.S. Federal Reserve, which in October concluded its trillion-dollar QE3 program and has recently hinted it intends to raise… Read more »
southseacompany
Member
southseacompany

Meanwhile, Canada makes history;

“Meridian Offers Ontarians the Lowest Posted Mortgage Rate in Canadian History” CNW Newswire

http://www.newswire.ca/en/story/1514879/meridian-offers-ontarians-the-lowest-posted-mortgage-rate-in-canadian-history

“Meridian, Ontario’s largest credit union, today announces it is offering an 18-month fixed mortgage at 1.49 per cent — the lowest known posted mortgage rate in Canadian history. “

space889
Guest
space889

@BBB – Yeah all those anti-vaccer trash living the booneys ruining life for everyone else….include happiest place on Earth DisneyLand.

Corrupt in Canada
Guest
Corrupt in Canada

“Measles confirmed at Terry Fox Secondary School”

What the hell are HAM doing all the way out in POCO???

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

@10

when was the last time you were there? chinese influence is obvious and growing.

Coquitlam school district wins award for Confucius Institute

http://www.tricitynews.com/news/288843971.html

Guy Smiley
Member
Guy Smiley

Interesting article on lowering rates of first time buyers in the states

According to this, countrywide 1st time home-buyers have historically accounted for 40% of home sales but due to stagnating wages and lack of inventory in the lowest price brackets (etc etc etc), it has fallen dramatically (29% last month).

Make me wonder what % of lower mainland sales are FTHB’s (and of that group how many needed to borrow from family for a downpayment). My completely uninformed guess would be well under 25%.

Guy Smiley
Member
Guy Smiley

Hmmm. Link didn’t change colour… first line of that post is a link to a Wolf Street news article.

Guy Smiley
Member
Guy Smiley
space889
Guest
space889

@BBB – Last time I check, HAM aren’t the ones who are anti-vaccine. In fact, most HAM would consider you to be a nutcase for not giving vaccine to your kids, especially when they are free.

And seriously, what self-respecting HAM would fly Air Canada to/from Beijing when they can get cheaper airfare and better food from Air China, China Air, and all the rest Chinese airlines?

space889
Guest
space889

@Guy Smiley – Isn’t that why we have sub-500 or even sub-400 micro-suites selling for $700+/sq ft, specifically targeted at all the young first timers and young couples and families?

Lots of $260K 1br/bachelor condos around town still for 1st time buyers. Who wouldn’t want that?

Those poor 1st timers in US usually have to settle for a 1500 sq ft SFH in the suburbs for that amount, and face 30mins to 1hr+ commute by car to work. Those poor poor souls….if they could only realize their errors and embrace condo livings like us, the Greenest City on Earth.

/sacarsm

patriotz
Member

@12: “(US Wide) 1st time home-buyers have historically accounted for 40% of home sales”

Sounds too high to me. That means for every 1st time purchase there are 1.5 others, which means that on average a home owning household owns 2.5 properties (including their residence or investment) over their lifetime.

Guy Smiley
Member
Guy Smiley

Ha. I think you nailed it Space. I’d still love to know the stats of it though. Detached I’m sure its very very low.

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

>And seriously, what self-respecting HAM would fly Air Canada to/from Beijing when they can get cheaper airfare and better food from Air China, China Air, and all the rest Chinese airlines?

both measles infections came on Air China flights.

air china pilot trying to communicate with the tower at JFK:
https://www.youtube.com/watch?v=hUdqyAIAHNQ

Corrupt in Canada
Guest
Corrupt in Canada

Anyone following the Oil spill fiasco??

Love how Chrusty and Mr.Wanting are all throwing each other under the bus.

Our politicians are walking jokes, all they can do is bend over for HAM.

patriotz
Member

@20:

Not sure what you think they should have done, since neither is repsonsible for the Port or Coast Guard.

Which leaves – you know who. Tanker Man.

space889
Guest
space889

38yr Canadian woman runs down and kills a 73yr old Chinese woman at the Great Wall.

Lucky for her, looks like she wouldn’t be charged with manslaughter or criminal negligence causing death, thanks for primative Chinese legal system.

https://ca.news.yahoo.com/canadian-tourist-accidentally-kills-chinese-woman-great-wall-165844394.html

patriotz
Member
Corrupt in Canada
Guest
Corrupt in Canada

Hey Patz

I didn’t imply they should have done anything, all I said is that all our politicians can do is throw each other under the bus instead of you know actually leading and moving towards a solution.

paulb
Member
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