BC, data, economy, equity, hype, Open Topic, prices

Protect the housing bubble!

July 22, 2015 admin

It seem natural that most readers of this site would appreciate an MLA standing up for more data on real estate transactions in BC.

It came after Weaver had introduced a private member’s bill to amend the Land Title Act. If it is approved by a majority of MLAs, it would enable the B.C. government to determine foreign-investment flows in the real-estate market, as well as the extent of corporate buying of property.

Unfortunately in a province where everything seems to revolve around real estate and sensitivities around that topic what you end up with is wishy-washy comments that are nonsensical.

Southseacompany points out that Green MLA Andrew Weaver has asked the finance minister what is being done to prevent a Vancouver housing bubble from bursting. Unfortunately there appears to be some logical inconsistencies in the MLAs statements:

I especially can’t figure that first sentence on Weaver’s blog;
“Today in the legislature I rose to question the Minister of Finance as to what steps, if any, government is taking to ensure that Metro Vancouver’s potential housing bubble doesn’t burst and that housing remains affordable in the region.”
Remains affordable? And that if this bubble burst and prices fell, then… it won’t be affordable??
This man’s nonsense is a waste of time.

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Yunak

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Business moves further east…

http://www.theprovince.com/touch/story.html?id=11238050

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southseacompany

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“Interest rates could run away from Mark Carney”, The Telegraph, UK http://www.telegraph.co.uk/finance/11759027/Interest-rates-could-run-away-from-Mark-Carney.html “Get ready for a shock. Interest rates may well peak at a much higher level than the Bank of England and other central bankers suggest.” “In the last two weeks, both Janet Yellen, Chair of the US Federal Reserve, and Mark Carney, Governor of the Bank of England, have prepared the ground for a rise in interest rates, possibly by the end of this year.” “The age of rock-bottom rates may finally be drawing to a close. It’s been a long time coming.” “But both these central bankers have tempered their warnings by suggesting that the tightening interest rate cycle is likely to prove only gradual and exceptionally shallow by past standards.” “Rarely do interest rates rise in an orderly fashion to some kind of pre-ordained plateau. What… Read more »

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@47, fuck Dr. Yu.

My father was born in China but the mother tongue is Russian, did I have the opportunity to learn Russian in my public education? Our national languages are English and French and I oppose the teaching of any other language in our public school systems…spend the money on more math teachers and perhaps teach family finance! If you want to attend a class to learn another language go enrol at the community centre at your own cost, not this taxpayers.

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w

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5 Unbelievable Facts About the Vancouver Real Estate Market

http://www.fool.ca/blog/2015/07/23/5-unbelievable-facts-about-the-vancouver-real-estate-market/

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vangrl

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#87

serious?

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Corrupt in Canada

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Yunak must have some google alert for urine soaked virgin boy eggs lol.

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Yunak

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@84

“I’d imagine by 3 pm the water must be at least 25% urine.”

On the other hand it is an amazing venue for Urine-soaked ‘virgin boy eggs’, a springtime taste treat in China.

http://worldnews.nbcnews.com/_news/2012/03/29/10922289-urine-soaked-virgin-boy-eggs-are-a-springtime-taste-treat-in-china

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lol

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So the Creek development goes on sale this weekend. ..my buddy is getting paid by the developers to camp out in line 400$ a day. ….the slime slimes

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flaneur

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@#61, what is unusual is that the Konger developer and associates are currently locked up in jailhouse instead of floating on their Noah’s Ark. What’s common today is that GVRD has attracted a score of developers-investors touting their “born-again” faith. Gone were the days of “fantasy garden”, shame was o.k. then; someone pointed out his daughter to us at a restaurant before they exited GVRD completely. The same person pointed out another new investor-developer in town recently. I checked the icij site, and true enough his name, his wife’s and their 2 son’s are listed there with a bunch of companies in the Australasia. The only name missing there is their daughter, prolly because she’s still at UBC. One juicy detail – his mil was a cabaret queen jailed for killing her lover.

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History

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Ring, ring, Peking here, room in your Vancouver bathtuB? Move over!!!! RE (WE) are coming over, pre approved by Chicom head office, dont look into our eyes, K? bpom, you are our lucky dog, we fed you now, and Oracle make tasty curry of your intestines

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Best place on meth

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@77

I just love those images from Chinese pools.

I’d imagine by 3 pm the water must be at least 25% urine.

What a shithole, no wonder they all dream of escaping to a western country.

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Bull! Bull! Bull!

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he patriotz, remember your buddy that left the blog because he thought talking about HAM was too racist? what was his name? jesse?

good times!

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Bull! Bull! Bull!

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richmond, 40 years old, average floor space, average size lot, $1,368,000.

http://www.realtor.ca/Residential/Single-Family/15705866/6471-GAINSBOROUGH-DR-Richmond-British-Columbia-V7E3Z2

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Half-naked Spartan warriors thwarted by Beijing police

The Persians didn’t have Mao Zedong Thought working for them.

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Bull! Bull! Bull!

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sorry, i meant VHB not VMD.

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Bull! Bull! Bull!

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@franko you’re living in a dream world. btw your user name reminds me of another long forgotten bear, freako. he was pals with someone else we don’t see around anymore VMD. remember those guys? i’m still here though. ever year there is a new crop of bears that need educating, and i do my best to educate them. i’m just trying to prevent people like patriotz from ruining too many lives. rates are low, with a mortage helper your payments will be close to rent. will your house go down in value, possible. but the mainlanders aren’t going to stop coming. if things go bad in china they will come even faster, like rats from a sinking ship. remember a home is to live in, it’s not an investment. but being priced out forever doesn’t do you any good. i… Read more »

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New Listings 201
Price Changes 62
Sold Listings 181
TI:12864

http://www.paulboenisch.com

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Bo Xilai

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This is a good analogy for Chinese Mainlanders trying to buy up every scrap of real estate in Vancouver’s West End and West Vancouver…

8,000 people in China have squeezed their way into this pool to escape the heat

Read more: http://www.businessinsider.com/8000-people-cool-off-china-pool-2015-7#ixzz3glHSLNiI

http://www.businessinsider.com/8000-people-cool-off-china-pool-2015-7

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VanRant

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New phase in China “vampire billionaires.”
“If they see the daylight, or in their case, if their wealth is put into the public eye, these people shrivel up and die. They get arrested immediately.”

http://www.wptz.com/national/chinas-1-billionaires-in-halls-of-power/34306218

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realist

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@ 71 History
“Layoff these rainbow maggots, whats rebalancing in the oil patch must be rebalanced in Ottawa”

Unfortunately, that’s wishful thinking — other than re-election, and finding exactly the right extra-marital dalliance, there are no “musts” in Ottawa. Covering the gaping financial hole is what taxpayers and the bond market are for!

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Lou

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Bull! Bull! Bull!

You should covert the $ to RMB, then everyone will know the price actually didn’t go up.

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franko

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@53, Bull 3
” How much are houses down ” (since Poloz’s wizardry last week)

I have no idea how much they are down in a week. Maybe you can tell us.
All I know is that they’re not selling as fast in my hood as they were a month ago, and starting to see a few “reduced” adds in the local RE flyer for the first time since the winter. That may be seasonal, and it wouldn’t bother me to see prices go up again with another batch of preapproved mortgage suckers trampling themselves to get in when the FED starts to hike rates later this year or next year. It’s inevitable.
Higher rates and a recession. Should be fun to watch.

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Bull! Bull! Bull!

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45 year old house on a 9,000 sq/ft lot in ladner. $1,278,000.

you are priced out. is there anything left to talk about on here? shut down the blog, pack up your stuff and call the moving van. the lower mainland is joining the sinosphere as a luxury destination and you can’t afford to be here.

http://www.realtor.ca/Residential/Single-Family/15809710/5529-MAPLE-CR-Ladner-British-Columbia-V4K1G3

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History

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Class conscious snivel servants and their gargantuan salaries bought out by the financial engineering central bankers and their bond market collaterizing of YOUR social capital.

Layoff these rainbow maggots, whats rebalancing in the oil patch must be rebalanced in Ottawa

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Oracle

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You guys wouldn’t know if a housing crash hit you head on.

The crash of the dollar is great news if you want housing to crash. Means the smug homeowners will finally get a shock…higher prices eating into their budgets….leading to RE crash.

If Vancouver and Toronto hold up, then you will know for sure its foreign money and recent immigrants holding up this house of cards.

Bubble? What Bubble?