Who’s worried about debt?

According to this article over at the CBC, Canadians love a good home equity line of credit – they’re practically addicted to that sweet sweet HELOC money at rock bottom rates.

“We are addicted for sure. Who wouldn’t be addicted to something so easy [to get]?” says 35-year-old Ali about the free-flowing lines of credit that have enabled him to splurge on the finer things in life.

“It’s easy, accessible cash at a very cheap price. The banks make it so easy for you to obtain it,” says the software engineer.

Some people say the national reliance on debt is a risk to our economy and to the lifestyles of the indebted.  But the Canadian Bankers Association isn’t worried and spenders say they are aware of the risks:

While Ali and Haji like to spend, they believe they’re behaving responsibly and say they’re aware of potential pitfalls. That’s why they’re still undecided about another loan.

“If you get a line on this [house] and God forbid something happens to me or [my wife] and we are unable to sustain our lifestyle or stream of income that we have, then we would be in trouble and that may lead to us losing this house,” says Ali.

And that’s why some rooms in the family’s home remain empty. Ali shows CBC News his large, mostly barren master bedroom and talks about his grand plans to furnish it — sometime in the future.

“Without the credit line, it’s slow,” he laments.

But things could always change. The couple says just last week the bank called, inquiring if the family was interested in another loan.

Read the full article here.


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What stats would you like to talk about?


….when the chinese stock market crashes expect more capital outflows to increase….

It’s a little know quirk of modern economics: when everyone looses everything they have in the stock market, they take all their losses and invest them in other areas. Riiiiiiiiiiiiiiight. Pass the blunt dude.


….@ #75….your #s are way off… crack shacks are going for 1.75-2.0M (good luck finding something in the 1.0M neighborhood)new builds on 33 ft lots are widely avail for 2.75-3.0M

Oh so developers aren’t making any money. Ahhh that’s why so many houses are being torn down in Dunbar – to allow developers to loose money. Makes sense.


@77 Sending Canadian biometric data to China is an unfair policy if it only applies on Chinese immigrants. Don’t forget some people wanted by Chinese government immigrated to Canada as early as in the 90s. What is the difference between a Chinese immigrant in 1990, and an European immigrant in 1970, and an Indian immigrant in 1980? If we should share the biometric data of a 1990 immigrant with Chinese government, why not apply to all immigrants in the 60s or 70s? or just giving them that of our whole population? Are you also trying to compare the integrity between Japanese and Chinese government or judiciary system? I will also not be surprised to see Chinese government abuse our data by placing false offences other than financical crimes over Canadian citizens, like being accused of supporting terrorists, drug dealings, or… Read more »


When Krusty and Coleman talk about “not messing with the market”, they’re full of it.


Shut It Down Already

Elvince, the problem is what I already mentioned – that SINs shouldn’t be used as unique secret identifier. If banks weren’t treating it as such then somebody “stealing” it wouldn’t matter at all.

And since when did signatures ever prevent cheque or credit card fraud?

[…] Many Franks pointed out this article over at BiV about house flipping in Dunbar. and points out how the math might not always be as appealing as it first sounds: […]


Anyone want to talk stats?


New Listings 277
Price Changes 54
Sold Listings 155


Bull! Bull! Bull!
UBC in crisis mode

Trump for President! I cannot wait for my Trump tower Vancouver condo to jump in Value!



@Shut It Down Already: Htf do you get from “they stole money from my bank using my identity” to “their security is sufficient”? Someone stole my SIN when they robbed my place (I shred everything I throw in the dump), then they made fake IDs. With that they managed to get an atm card linked to my account at a branch. Using the atm card, they withdrew money from an atm, and when the limit got hit, they went to another branch to see a human teller. If anywhere in the chain there had been any biometric comparison, it would have failed. Actually, they failed when there was one: a human verified the signatures, which is the most basic biometric check that can exist. @Cat in the hat: Do you know how hard it is to change the thumb/retinal print… Read more »

Cat in the hat


Ever thought of stolen Biometric id? PKD is always right.

Shut It Down Already

Elvince, you make the flawed assumption that their existing security was sufficient – it likely wasn’t, and won’t be until things like SINs aren’t considered to be secret/private information and security question answers aren’t easily obtained via social media.

Biometric banking isn’t necessary, they just need to fix the existing crap they have. That’s common sense.


As someone who’s had his identity stolen, I say implement biometric everywhere. A bank shouldn’t let anyone withdraw 20$ from an atm without some sort of biometric information. When I got my identity stolen, the only thing that stopped the bad guys was that they didn’t have my handwritting. They tried to withdraw 5000$, so they had to see a human teller, and she compared my signature on file with the one the bad guy wrote on the form. They didn’t even look alike. “Wait here a minute sir, I have to check with my manager”. She called me so I could confirm I was 500km away from her bank, and then I guess she called the cops, cause I never got problems with stolen identity anymore after that. A stone age biometric comparison was more effective than just about… Read more »

Bull! Bull! Bull!

when the chinese stock market crashes expect more capital outflows to increase.

it’ll be raining yuan in HAMcouver.

Shut It Down Already

Jimmy, CGT isn’t as high as your numbers suggest. It’s also possible to offset against losses. I suspect the situation is even more complicated than that – hence the existence of tax accountants and lawyers.

It’s likely also the case that when a principal residence is converted into an investment an assessment of fair market has to be made to allow calculation of future cap gains. Disposing of that investment (turning back into a primary residence) would then trigger the gains. I don’t think your loophole exists in practice.


@crikey – Fingerprinting arrivals and immigrants sounds nice but: 1 – They wouldn’t really weed out criminals unless those criminals are bad enough to be on Interpol’s DB or shared criminal DBs. Otherwise, CBS isn’t going to be able to identify some serial murder/rapist from some 3rd world country based on their fingerprints. 2 – As for repeated entries of unwanted people, fingerprints would help but not that much since we have a legal and refugee claim process for anyone who lands in Canada with so many loopholes and fee hungry lawyers. I wouldn’t be surprised people will get around your proposals fairly easily. Also, once inside the country, most institutions like banks and even most gov’t agencies don’t ask for fingerprints. So if someone decides to disappear into underground economy, the fingerprint system wouldn’t help much unless they are… Read more »


#65 said “Japan is a very xenophobic country too”

Whether or not Japan is xenophobic is a moot point — (nevermind extremely complex).

e.g. My neighbour is very paranoid , has an elaborate security system. That doesn’t mean his security system isn’t useful. My neighbour’s paranoia has nothing to do with any analysis of the usefulness of this security system for meeting my own needs.

The important thing is whether or not the fingerprint system used in Japan would meets our needs, whether or not it would improve on existing unique-identification methods which are being frequently abused. Yes, a fingerprint system would be a huge improvement.

No Fun

We do have a tone-down version for visas
“Beginning in 2013, certain foreign nationals seeking visas to enter Canada will be required to give their fingerprints and have their photograph taken as part of their application.” cic.gc.ca

Now lets open it wide to keep our borders safe.


I of course meant to say, “if we’re going to do it are we going to remain in the stone age or join the 21st century”. Mind you, Japan has been fingerprinting for so many decades, we’d really be only barely catching up to the 20th century. 😉


#71 Patriotz said: “I was talking about sharing information with China on demand, about persons who have not been charged with an offense in Canada. …China has on numerous occasions demonstrated their contempt for us and our allies by stealing personal information and I find the idea that we should volunteer it absurd” Our govt already volunteers unique-identifier information with China. We volunteer very crude, stone-age methods of identifying people — names and birthdates, etc. As you know, that method of “distinct identification” of people is virtually useless, especially with regards to language-translation problems. It is extremely easy to cheat this stone age method of identifying people uniquely. The question isn’t whether or not we’re agreeing to share identification information with China. The question is, if we’re going to do it are we going to remain in the stone age… Read more »


@ #75

your #s are way off…

crack shacks are going for 1.75-2.0M (good luck finding something in the 1.0M neighborhood)

new builds on 33 ft lots are widely avail for 2.75-3.0M