Friday Free-for-all!

It’s the end of another glorious week here in paradise! Let’s enjoy another weekend of world class premium quality lifestyle in one of the most exciting places on earth!

This is the Friday Free-for-all, 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, Bon Appetite!

Totally not ‘mind-numbingly boring’
Nuanced debate.
Look who jumped on the bandwagon
Entitled to what?
The terror of a speculation tax
‘Free market’ means what?
Don’t need data. You’re racist.

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Sort by:   newest | oldest | most voted
Corrupt in Canada
Guest
Corrupt in Canada

If we dont do something, forget Vancouver Craft Beer Week, its going to be Main Street Meat Festival.

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

Rows of pet dogs hanging on hooks and cats skinned ready for the dinner table: Inside China’s gruesome annual ‘meat festival’ that was supposed to have been banned

WARNING GRAPHIC CONTENT

http://www.dailymail.co.uk/news/article-3103008/Rows-pet-dogs-beaten-death-hanging-hooks-cats-skinned-ready-dinner-table-Inside-Chinese-meat-festival-banned-year.html

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

2005, Robert Shiller says that Vancouver is “the most bubbly city in the world.”

October 2008, when asked whether Canada faces a similar bust to what the United States experienced, Mr. Shiller said: “Yes, especially in places that went up a lot like Vancouver and Calgary.”

2012 – Robert Shiller, co-creator of the Case-Shiller Index, which measures U.S. house prices, told BNN late last week that “Vancouver looks like part of California” when it comes to its housing market. “Vancouver is San Francisco, lagging by a few years.”He added: “I have Vancouver doubling (house prices) in 22 years. So that’s even bigger than San Francisco[‘s bubble]. I’ll tell you one thing, I’m not investing in Vancouver real estate.”

2014, “I’ll tell you one thing, I’m not investing in Vancouver real estate” – Robert Shiller

southseacompany
Member
southseacompany

“Rate hike needed to pop bubbles: Robert Shiller” CNBC

http://www.cnbc.com/id/102720995

“The U.S. Federal Reserve should consider lifting interest rates sooner rather than later to tackle speculative bubbles in the housing and stock markets, Nobel Prize-winning economist Robert Shiller told CNBC on Monday.”

“”They didn’t deal with the housing bubble that led to the present crisis. There’s a suggestion in my mind that they should be raising rates now, (but) unfortunately the latest news looks a little weak on the demand side,” Shiller added. ”

“”If I was asked to testify before them (the Fed) I might reconsider, but there is a tendency for central banks to ignore speculative bubbles until it’s too late,” Shiller said, talking about the need for higher interest rates.”

southseacompany
Member
southseacompany

“Australia’s Treasury Says Sydney Is ‘Unequivocally’ in a Housing Bubble”< Bloomber

http://www.bloomberg.com/news/articles/2015-06-01/house-price-bubble-grips-sydney-australia-s-treasury-declares

"“When you look at the housing price bubble evidence, it’s unequivocally the case in Sydney — unequivocally,” Treasury Secretary John Fraser said"

"“It does worry me that the very, very low — historically low — levels of interest rates are encouraging people to perhaps over-invest in housing,” Fraser said."

"The Reserve Bank of Australia cut its cash rate target to a record 2 percent in May while lending to investors is near a record high. The proportion of home lending to speculators rose to 40.8 percent in March, just shy of the 40.9 percent record in December, according to government statistics."

Westside Realtor
Guest
Westside Realtor

Looks like the noose is tightening.

WSR

Bo Xilai
Member
Bo Xilai

Sydney Morning Herald columnists makes good points here about money laundering from China and high property values…

“At present, Chinese investors are only permitted to take $US50,000 (A$65,413) out of the country. Yet they are regularly paying cash for A$1.5 million-plus homes in Sydney and Melbourne.

It is a fair assumption then that most of the money pouring into Australian residential property from China is therefore black money.”

http://www.smh.com.au/business/comment-and-analysis/solution-to-housing-affordability-staring-politicians-in-the-face-20150531-ghdjw7?stb=twt

Just keep in mind instituions like CIBC know about these regulations and regularly assist Chinese nationals in countering these capital controls.

RenMoney
Guest
RenMoney

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w
Guest
w

Interesting that South Asians support the tax considering that they are big players in construction. Then again family is very important to the too. They probably don’t like to see their children and grandchildren forced to move away.

@85
Guest
@85

” many residents of East Asian descent believe the debate on foreign ownership is racist”

Huh ? What’s up with the misleading headline, the poll says otherwise.

” when it comes to the question of whether the debate on foreign home ownership is inherently racist, with 35 per cent of East Asian respondents agreeing, compared with 21 per cent of total respondents.”

Huh ? Shouldn’t it say “Majority didn’t believe the debate is inherently racist”

Softy
Guest
Softy

VANCOUVER — A majority of British Columbians support an absentee homeowner tax, though many residents of East Asian descent believe the debate on foreign ownership is racist, according to a new poll.

Broken down by race, the numbers were similar across the board for Caucasian, South Asian and East Asian respondents, with a majority thinking a tax is a “very good” or “good” idea. A higher number of South Asians (58 per cent) think it’s a “very good idea” than Caucasians (43 per cent) and East Asians (39 per cent.)

Read more: http://www.vancouversun.com/Most+British+Columbians+support+absentee+homeowner+poll/11098072/story.html#ixzz3bmfPqGl6

bought and paid for
Guest
bought and paid for

Strange that you need to go to the American press for this kind of news.

Canada to send back corrupt officials

http://chinawatch.washingtonpost.com/2015/05/canada-to-send-back-corrupt-officials/

UBC in Crisis Mode
Guest
UBC in Crisis Mode

Is Vancouver’s condo king calling the shots on the city’s affordability strategy? Really?

“I asked Braeden Caley, the mayor’s spokesman, if City Hall had discussed a speculation tax with the founder of Rennie Marketing Systems.

The response (in full) was a sidestep that omitted mention of Rennie: “The Mayor indicated his support for a speculation tax to the Premier [Christy Clark] earlier in the week, and has been raising significant concerns about Vancouver’s housing market and the ability of people of all backgrounds being able to call this city their home without new policy action from the Province and Federal Government.”

http://www.scmp.com/comment/blogs/article/1811079/vancouvers-condo-king-calling-shots-citys-affordability-strategy

realist
Member
realist

# 75 gungho
“You want to fix the war on drugs? … Crucify one white, middle class banker a week on TV, live on Sunday and watch the problem clear up in weeks”

Let’s leave the crucifixions to ISIS, but there is no doubt whatsoever that the Powers that Be are the greatest beneficiaries of the “war on drugs”. The first banker punished should be an HSBC banker, as HSBC admits to laundering drug money:

http://www.theguardian.com/business/2012/dec/11/hsbc-bank-us-money-laundering

realist
Member
realist

# 74 Oracle
“Greasing of palms is going on big time in the new medical marihuana industry.”

I have little doubt about that, as that game is changing rapidly & presenting many new opportunities. As a drinker, I can only hope that their sins will be taxed as mine are, spreading the pain-for-social-gain around, but I’m not holding my breath!

Westside Realtor
Guest
Westside Realtor

Peak Prices are now in our rear view mirrors.

Wouldn’t shock me to see the Feds reduce the bank rate in the face of rising unemployment.

Great unwashed about to learn a generational lesson (same as always), as their primary wealth creation machine (housing) falls from unsustainable price levels.

WSR

hardfacts
Guest
hardfacts

I spoke to someone at the coal face in a bank. Hard fact: $50 trillion of peer to peer transactions from Mainland China to Canada THROUGH THAT BANK ALONE since 1997. Now they are being asked by the Feds, who are being asked by their friends in Beijing, to give up the data. No-one wants these criminals. And the population of the PRC deserves its money back. And people in Vancouver and Toronto can get their houses back also.

werskuwed
Guest
werskuwed
Corrupt in Canada
Guest
Corrupt in Canada
Figueroa
Guest
Figueroa

Guide to investing in Vancouver RE

1) embezzle money somewhere
2) Bring it here via false invoicing , private bankers or lawyer trust accounts
3) hoard RE . The locals are happy to protect your property while you go back to loot more dough
4) rinse and repeat

What do our politicians have to say about this:
Harper: “welcome . Money talks”
Christy: ” do you want fries with that?”
Gregor: ” can I date your daughter ?”

gungho
Guest
gungho
Re #33 See, that just fills me with despair that not only have realtors/government sold us out so despicably, they’ve gotten away scot free. Indeed, not just scot free, but they’re living large off these ill-gotten gains. As George Carlin said: You want to fix the war on drugs? Stop shooting drug dealers in the inner cities. Crucify one white, middle class banker a week on TV, live on Sunday and watch the problem clear up in weeks. Perhaps we need something similar for realtors and all the people who sold us out to the dogs. If we have no means of righting this bubble, at least we have the means of punishing those who aided and abetted it. Re #3 and all the requests for data: Have you thought about asking Anonymous for this data? They’re usually up for… Read more »
Oracle
Guest
Oracle

Realist,

Greasing of palms is going on big time in the new medical marihuana industry. Heard chatter that grand forks council is corrupt to the core with regards to this. Don’t know if it’s true though.

Ulsterman
Member
You see, it doesn’t have to be this way In many parts of the world, including of course, our own little slice of paradise, there appears to be a emerging philosophy that owning a home should not be a realistic aspiration for most and makes one entitled. However, just looking around a little you can see that it is just one way of thinking and some countries have tried a different approach. Take Germany for example where houses are affordable and renting is socially acceptable. “Rather than keep their noses out of the economy, German officials glory in influencing market outcomes. While the Goerlitz authorities are probably exceptional in the degree to which they micromanage house prices, a fundamental principle of German economics is to keep housing costs stable and affordable.” “The German system moreover is deliberately structured to encourage… Read more »
history
Guest
history

http://www.informationclearinghouse.info/article41871.htm

This article says China ICBMs cover the USA everywhere except Florida. Gotta wonder if some disgruntled child of a Red Guard would make a good Patsy for a false flag event after Shanghai crokes another 85%?

alsoGone
Guest
alsoGone

#60

Carry on my wayward son,
For there’ll be peace when you are done
Lay your weary head to rest
Don’t you cry no more

Do it …

#62 friends and RE: so true, living in Van was like being inside HGTV, everyone talking about RE, renos and trying to prove their net worth by trips, bragging, etc. Leave and restore your sanity.