It’s that time again…
Friday free-for-all time!
It’s time for our regular end of the week news round up and open topic discussion thread.
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Post your news links, thoughts and anecdotes here and have an excellent weekend!
119 Comments
[…] –another rate cut? –different here –frustration over empty luxury –shield against mortgage meltdown? –developers aim for senior market – […]
Sooo….back to housing?
If Poloz cuts rates and this causes a spike in housing prices, do you think you’ll see the last of the fence-sitters pile in? There is probably no juicier target for the banks than some middle-class schmuck *wanting* to enter a lifetime of debt servitude. I’ve been watching a bunch of documentaries and reading some books on the 2008 GFC, and at one point some memos at AIG explicitly refer to homeowners as “a lot of emotion attached to a bit of dumb gristle and fat”. Just ripe marks, right there for the taking.
It’s going to be an interesting fall, and not just because of the fires and the heat.
Chinese politicians are fucking scum.
BUT, politicians everywhere in the world are shit. Some more-so than others.
I would never say death to Canada or USA or Israel because I do not agree with their leaders.
@ space889 111 & 112
I do not presume to know what is best for anyone, much less a country. I generally don’t hold opinions, unless I am paid to do so, or have some pressing need to do so. As a general principle, I do not support authoritarian regimes or ideologies. And I take care to avoid all the many schemes and traps employed to suppress criticism of same, including (as needed) race-baiting, ethnicity-baiting, religion-baiting, immigration-baiting, age-baiting, political correctness-baiting, etc.
@114
Is the Greek Festival any better?
Much better, you can’t compare these two. At least you can’t be served dog-meat and urinated eggs at Greek’s place.
110
Is the Greek Festival any better?
[…] buyers may be eating a lot of Kraft Dinner but Realtors are doing fine. From RFM over at Vancouver […]
@realist – So it’s totally not racist to believe someone who, through no fault of their own, happened to be born in a particular country and who’s never even left that country to be branded as a locust and deserve to be squished like a bug? Yes, that’s totally not racist.
@realist – right, cause you know what’s best for people of China better than the 1 billion+ of them living there under the government you so despise. Must drive you crazy that there isn’t more protests and coups against the government in Beijing, doesn’t it?
#105
went once to richmond night market … a dump … cheap low quality plastic stuff … overcrowded … terrible food with huge lineups … dusty, dirty … some lottery where you have to spend a lot first … expensive games … don’t understand the appeal …
# 107 Corrupt in Canada
Although I doubt that it is your intention, you are doing the Chinese people, both in PRC and around the world, a disservice by arguing that those who wish an end put to the regime in Beijing are racist. This line of argumentation has been used by those in or sympathetic to the government of the State of Israel since 1948 in order to stifle criticism of Israel, and it has worn threadbare over the decades.
@ 106 southseacompany
Mr. Holt is an economist, and he is arguing from economic fundamentals, such as he understands them. Mr. Poloz operates in another sphere, specifically, a Canadian Crown corporation. The Canadian civil services have become politicized in their missions, and corporatized in their operations. And their side-kicks, the Crown corps, by definition already have that little operational matter taken care of.
PS thank you for your links!
94 I’m not racist “PROVE ME WRONG”
89 “Death to China!”
lolololol.
“Would Stephen Poloz risk ‘inflaming’ Canadian housing and debt with another rate cut?”, Globe & Mail
“Housing and household debt are back on the radar amid speculation that the Bank of Canada could cut interest rates again.”
“(Derek Holt, vice president at Scotia Economics) report was actually about why he believes Bank of Canada Governor Stephen Poloz won’t cut rates again, and this was among the reasons.”
“Trimming rates again after the surprise January cut, he said, would only “risk inflaming housing imbalances,” which are already a threat cited by the central bank.”
“Now if we could just get the street vendors to supply those tasty chicken embryos on a stick.”
Well some lady at the Richmond night market sold a 12 year old an electronic cigarette kit and e-juice.
Dad’s furious… He’s posting on Facebook.
One comment…
“Again…you think these pop up chinese vendors care?
I’m chinese, I know how chinese businesses work.
If my people can make a buck off their own mother, they will.”
#99
A gallery showing Vancouver haze side by side to Beijing could demotivate some ‘investors’ and ‘entrepreneurs’
#95
Wow indeed. We need that here. If you’ve ever been to Brazil or Colombia, they have similar restrictions in place, with a down payment of upto 50% for some credit seekers.
Can you imagine Snowflake McMillenial being asked to put down 50% for her crack shack in East Van so she can have the privilege of growing up in the same hood as Boomer and Boomerette?
We need to copy Australia now! Has anyone else always thought that Australia/Canada have this whole brotherly thing going, we’re both so large, sparsely populated, British colonies, love the queen etc etc and we just get along without any of the sniping usually directed at the US.
Unfortunately, our dear leaders hitched BC economy to the wrong cart, despite all warnings. Jobs plan = sell everything to China.
wolfstreet.com/2015/07/05/panicked-chinese-government-imposes-desperate-measures-to-aggressively-rescue-a-lot-more-than-just-crashing-stocks/
House fire in West Vancouver – HAM raising capital for overseas margin calls?
Just when you think exceptionally sunny weather might scare heliophobic HAM away from Vancouver, the sun gets blotted out by a thick Beijing like haze.
Post 77 is a fake post pretending to be me. Please ban WSR again.
Chinese chaos worse than Greece
http://www.news.com.au/finance/economy/chinese-chaos-worse-than-greece/story-fnu2pycd-1227430761673
Pay no attention to the photo, it’s racist.
Blood bath in HK today.
That’s all folks
Australian banks restrict lending amid housing bubble fears
Australia’s major banks have tightened underwriting rules for property investors amid growing fears of a housing bubble, after the Australian Prudential Regulatory Authority warned that Sydney’s housing bubble could destabilise the financial system.
Paying heed to the warning, Australia’s four major banks – Commonwealth Bank of Australia, Westpac Banking Corp, ANZ Banking Group and National Australia Bank – have raised the minimum down payment to 20% of the purchase price, having previously required only 5% money down. Stricter mortgage approval criteria have been introduced, and the banks are either not providing interest rate discounts on mortgages to property investors, or discouraging discounts.
WOW……