Hey Vancouver! Why so unhappy?

Imagine this:

There’s a city in Canada that has a temperate climate – it’s not frozen half the year. It’s widely acknowledged as a beautiful place with access to nature and people are willing to pay some of the highest prices in the world just to buy a bit of real estate there.

And yet the citizens are some of the most unhappy in the country?

What gives you bunch of ungrateful louts?

According to Statistics Canada the entire province of BC is filled with a bunch of unhappy people. Not a single city in BC even cracks the top ten happiest places in Canada.

And our fair city of Vancouver? Well 33rd place isn’t really that bad is it?

Stop crying and move to Quebec already if you’re so miserable!

 

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history
Guest
history

http://www.marketoracle.co.uk/Article50396.html

you unhappy ’cause the china money spigot doesnt stop at your bank account.

NoStupid
Guest
NoStupid

You’re unhappy cuz you spend all your money paying for shelter. Fucktards. Renting rocks.

Bo Xilai
Member
Bo Xilai

Because everyone here judges everyone else by where they live, what stupid country club to which they belong and what they drive.

Vancouverites are the biggest bunch of shallow, self-absorbed, pretentious and materialist douchebags I’ve ever encountered.

I went to Italy 6 years ago with my wife and we met many, many Canadians… My wife and I could invariably tell who was from Vancouver (or surrounding area) because they were usually morons and/or miserable.

Bo Xilai
Member
Bo Xilai
tedeastside
Member
tedeastside

that has to hurt the smug town that calls itself the best place on earth!!

the license plates would actually make sense if they said “most unhappy place on earth”

the BPOE Vancouver Sun was not happy with the ranking and came out with a smug vancouver style rebuttal …its a gem https://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0CB0QFjAA&url=http%3A%2F%2Fwww.vancouversun.com%2FShelley%2BFralic%2BVancouverites%2Bsatisfaction%2F10989281%2Fstory.html&ei=f1s_Vc-LB4mHyQSP44CIDw&usg=AFQjCNFbpa7Ojv5jlVPyN0EmCa_QvDJmgA

tedeastside
Member
tedeastside

@BO true!!!

of all the places i’ve been, never been to a place where people are so concerned about what part of the city you live…it really is a Vancouver thing!!

just another example of how bush-league, immature and petty Vancouver is

Corrupt in Canada
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Corrupt in Canada
Bailing in BC
Member

“This “City” has – or rather had – a problem, which was this: most of the people living on it were unhappy for pretty much of the time. Many solutions were suggested for this problem, but most of these were largely concerned with the movement of small green pieces of paper, which was odd because on the whole it wasn’t the small green pieces of paper that were unhappy.” – Douglas Adams

Westside Realtor
Guest
Westside Realtor

The market a month ago was effervescent, like a freshly opened bottle of Perrier.

It now feels flat, like a glass of soda water that has been sitting for a few hours.

Basically gross and unappealing.

We need another shot of even lower interest rates to goose things further along.

If we don’t get that, I see slumpiness ahead, after the spring market fades into the sunlight.

Still don’t see why this market won’t get the shit kicked out of it.

Do you?

WSR

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

my sources confirm what we are hearing in the media, that chinese are stock market crazy. they are borrowing money against their properties to invest in their stock market. did anyone see this coming? not me.

their market is totally unregulated, full of sketchy manipulated penny stocks. they have none of the regulatory framework that exists here because of the hard lessons we have learned. it’s like the 1920s over there.

this looks pretty serious to me.

southseacompany
Member
southseacompany
“Bank of Canada’s Poloz: degree of housing overvaluation not unusual”, Reuters http://ca.reuters.com/article/domesticNews/idCAKBN0NJ1YQ20150428 “Bank of Canada Governor Stephen Poloz said on Tuesday it was not unusual to see an overvaluation in home prices given the market’s long rally but reiterated the country was not in the midst of a housing bubble.” “The central bank has estimated the housing market is overvalued by 10 percent to 30 percent. Poloz said that is a by-product of the sector’s strength since the global financial crisis, partly fueled by low interest rates.” “The rise in home prices in recent years, particularly in the major cities of Toronto and Vancouver, has led some economists to speculate the country could be due for a painful correction.” “But Poloz said the sector is not in a bubble, noting that the bank has not seen the highly speculative behavior… Read more »
southseacompany
Member
southseacompany

“Stephen Poloz defends rate cut in appearance before parliamentarians”, CBC News

http://www.cbc.ca/news/business/stephen-poloz-defends-rate-cut-in-appearance-before-parliamentarians-1.3051768

“Lower interest rates have been a boon to home prices, which in the bank’s estimation are probably somewhere around 20 per cent overvalued across the country, Poloz repeated in his appearance.”

“But he shied away from a suggestion, in a question from an MP, that Canadian housing is in a bubble.

“If we were all buying a second or a third condo with confidence that it was going to rise in price, and sell it to someone else, that would be one of the ingredients you’d expect to see in a true bubble,” Poloz said.”

Sold2Soon
Member
Sold2Soon
Well, I have an idea why owners in the central Richmond condo where I rent may not be happy. I have been renting a 2-BR and loft, 2-Bath, ~1380 sq. foot unit in the building for about three years. A little over a month ago, the property manager for my unit indicated that the owner was looking to sell and that the owner’s realtor would be getting in touch with me. Sure enough, a few days later, the realtor came over, took some pics and told me that I should not worry as there were plenty of investor-owners out there too. I politely resisted his own “this is the best time to buy” sales pitch but had to contend with my wife’s laments at the anticipated invasion of our privacy for the impending showings and the potential of her mother’s… Read more »
patriotz
Member

@12:

“If we were all buying a second or a third condo with confidence that it was going to rise in price, and sell it to someone else, that would be one of the ingredients you’d expect to see in a true bubble,” Poloz said.”

If we were “all” buying a second or a third condo? What a clown. Were we “all” buying dot-come stocks? Were “all” Americans buying a second or third property?

It’s a bubble when everyone who buys a second or third property does so because they think it will go up.

. 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.

ostritch
Member
ostritch

Bull, Bull, Bull,

That’s so scary. If they are truly gamblers the planet will be f’ked.

ostritch
Member
ostritch

Sold2Soon, it still sucks for you because you now have to live through all the noise, dust, workers etc. If you thought your wife was pissed before, just wait.

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

@ostritch

They are completely oblivious to the risk. They are naive, ignorant, and can’t conceive that the chinese stock market may go down.

ostritch
Member
ostritch

Gotta agree that Poloz is playing with words. In my world view, the one that supports the idea that SFHs are hedges for global money, Poloz is pretending that foreign buyers aren’t extending the risk in their own markets to us–purchasing all with the expectations of flipping it to someone else for a profit. If what Bull is saying about borrowing to double down on the Chinese stock market is true, well then, we are doomed. I’ll not see a normal economy, with normal interest rates and growth until the end of my life.

ostritch
Member
ostritch

Bull,

GeeZus! H! How is this even possible again? In 2008 they lost a ton of money in their markets. I remember talking to a Chinese girl in the medical field who had tons of Chinese patients whose stress levels were through the roof because they lost gobs of money on Chinese stocks. She said, they’ll never do it again.

And, dunno, maybe the same people aren’t. Maybe it’s new punters at the table. I hate this shit. It’s so large it puts other countries at risk. Our savings, be it housing or whatever, and our bloody healthcare system could all be at risk. And Poloz pretends he doesn’t see it.

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

@ostritch

the people i spoke with told me that in 2008 they didn’t trust the stock market. they would rather speculation in real estate. obviously some people were investing in stocks in 2008 and they would have gotten hurt, but is suspect they were a minority.

the herd seems to be a shifting away from property to stocks now.

Corrupt in Canada
Guest
Corrupt in Canada

“They are completely oblivious to the risk. They are naive, ignorant, and can’t conceive that the chinese stock market may go down.”

Sounds just like every other stock market investor in the world.

Not trying to jest but seriously, how is this different than your average joe schmoe investor in the states.

DaMann
Member
Active Member
DaMann

@21

“how is this different than your average joe schmoe investor in the states.”

Faith in government regulation?

ostritch
Member
ostritch

Ok. Bull, I’ll let you handle that one from Corrupt in Canada. I can’t take the incessant need for these guys here to knit pick.

Dave
Member
I would like to know what Poloz thought cutting interest rates would do to improve our economy. I would argue that the cut in rates did very little to improve our economy. The reason for our slower growth and downturn is the drop in oil prices. A 0.25% cut in interest rates does nothing to effect investment and spending when oil fell by 50%. We were going to lose a lot of jobs no matter what. That’s what happens when a big part of the economy is resource based. Killing the dollar also does nothing because it had already corrected substantially and the export stimulus is basically maxed out. Cutting rates definitely helps real estate, but why push it higher when you already believe it to be 20% overvalued? I am very skeptical of Poloz. We’ll see how he does.
squeak
Member
squeak

#10 :”my sources confirm what we are hearing in the media, that chinese are stock market crazy. they are borrowing money against their properties to invest in their stock market.”

Is this the “new opium”?

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