Friday Free-for-all!

It’s that time of the week again…

Friday free-for-all time!

This is our standard issue 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:

RBC downplays crash threat
An imbalance?
Thoughts from Ireland
Economists show concern
Sunshine coast stats

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

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crikey
Guest
crikey
Reposting after fixing a couple of typos — How about something like: “Canada’s house prices have been rising for years at a rate much, much faster than Canadian salaries. Reputable economic experts far and wide agree that Canadian house prices are at alarming highs when examined against most standard and historical economic metrics, and as recently as this past December even the Bank of Canada warned that Canada’s housing may be 30% overvalued on average. These high real estate prices are especially benefitting some people who bought homes before the prices rises and are selling now, but most younger and middle-aged Canadians are being precluded from having the same opportunity that our Canadian predecessors had to settle down in the cities where we are employed and grew up. This problem is slowly tearing the fabric of young and middle aged… Read more »
crikey
Guest
crikey

ARGH.
“This problem is slowly tearing the fabric of young and middle aged Canadian society apart, as it is …”

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

learn mandarin online for free. now you have no excuse. better than posting on vancouvercondo.info

https://www.livelingua.com/fsi-chinese-course.php

squeak
Member
squeak
“Asking about CMHC privatization would just give Harper the opportunity to spout BS about removing taxpayer risk, as his government as already done.” Fight fire with fire: So, if this bubble eventually bursts… I would really like to have my money (that I actually worked for, lived below my means, saved and scrudged, etc)out of the harms way. Where do I start to get the money out of this country. I have done everything right: no taking advantage of a system, no special over pay b/c I know so and so, no stealing, paying every bit of tax they wanted, every fine (if there was one) paid, not incurring expenses for the system by smoking/drinking, eating healthy and living healthy, driving safely (no James bond tactics)with much consideration of other drivers lives, no excuberant benefits that most can only dream… Read more »
Royce McCutcheon
Member
Royce McCutcheon
@26: “Canada’s house prices have been rising for years at a rate much faster than Canadian salaries, with reputable economic experts far and wide warning of over-valuation. While high real estate prices benefit those who bought early on, many younger Canadians are being precluded from having the same opportunities for home ownership their parents had. The current climate is leading to Canadians to taking out historically large mortgages, and is impacting everything from the number of children a young family will have to their capacity to save and create diversified investments. First-time buyer initiatives typically just give new buyers the opportunity to bid prices higher, which isn’t really a solution. Should Canadian government policy continue to focus on sustaining current historically high real estate prices?” Or putting the last question another way: “How would you justify a continued focus on… Read more »
Shut It Down Already
Guest
Shut It Down Already

Oracle, Garth was suggesting diversifying away from Canada stocks long ago. He’s suggested people liquidate RE and invest in a balanced portfolio. He’s never suggested putting the entirety of your wealth into a single asset class.

elvince
Guest
elvince

@squeak: You could buy a condo in another country. China maybe?

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

how are your stocks doing?

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

you can almost hear the money being sucked out of china and flying across the pacific.

space889
Guest
space889

@patriotz – why not? Gov’t make the laws, no reason they can’t make a law to privatize the existing insurance….just like BC gov’t get away with making the law changing collective agreements after the agreement is signed. I doubt there is a constitution clause protecting gov’t insured insurance.

space889
Guest
space889

Here is a very simple question to ask:
Do you think it is a good idea to have young people today going into 40yrs of debt servitude to afford a basic life necessity of shelter?

And off course an equal simple answer from Patriotz – no one has to be buy.

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

anyone still think the FED is going to raise rates?

southseacompany
Member
southseacompany

“Oil Rout Trumps Canada’s Election in Poloz’s Next Rate Decision”, Bloomberg

http://www.bloomberg.com/news/articles/2015-08-21/oil-rout-trumps-canada-s-election-in-poloz-s-next-rate-decision

“Oil will take precedence over politics when Canada’s central bank considers next month whether to cut interest rates in the middle of an election campaign.”

“The rate decision set for Sept. 9 is the only one scheduled during the election campaign Prime Minister Stephen Harper began this month for the Oct. 19 vote. Swaps trading Thursday suggested about a 20 percent chance of a rate cut. Poloz may respond if there’s evidence of new damage from the swoon in oil, according to Mark Chandler, head of fixed-income strategy at Royal Bank of Canada’s RBC Capital Markets unit in Toronto.”

elvince
Guest
elvince

@space889: If you want to privatize, you still need to find a private buyer. Patriots’ point is that nobody wants to be on the hook for those insurances unless the govt backstop the losses. Therefore, at best, you’ve privatized the operation, but not the risk.

crikey
Guest
crikey

@ Royce McCutcheon #30
Nice! I like it!

I think the first of the two versions of the question is best, nice and easy to follow for everybody. The second version of the question would not be digestable for a significant proportion of watchers/listeners — and so the both the question and answers would be lost on those voters.

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

s&p500 at 1550 in oct, then FED does QE4 and it’s up uP UP! don’t sell yet patriotz, government intervention and easy money is going to save your sorry ass portfolio hahaha. somehow i doubt you’ll have any moral obligations when you’re the one who benefits from government picking winners.

Royce McCutcheon
Member
Royce McCutcheon
VanRant
Member
VanRant

The whole world is in a mess, especially China, their amazing grown is just the government using credit to stimulate their economy and now its over, down, down, down they go. They had created the biggest bubble the world has ever seem, credit, stock and housing. Thats why the rats are leaving the ship, with their HOT money before it sinks. A lot of the money has made it to and laundered through Vancouver real estate. Once the ship sinks, so will Vancouver real estates.

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

>Once the ship sinks, so will Vancouver real estates.

our real estate will go up a lot before it sinks. the price appreciations that have happened already are NOTHING compared to what’s coming.

MikeS
Member
MikeS

Alright, thanks for the suggestions, y’all. I’ll let you guys know how they filming goes. Hopefully I get enough time to say what needs to be said. I’d rather not be part of a clip-show of similar questions.

MikeS
Member
MikeS

Alright, thanks for the suggestions, y’all. I’ll let you guys know how the filming goes. Hopefully I get enough time to say what needs to be said. I’d rather not be part of a clip-show of similar questions.

YLTNboomerang
Member
@MikeS I got the email to appear on camera too on Aug 25th. My biggest concern about the economy (the question they wanted answered) was along the lines that our government has bet the farm on housing to a point where 70% of folks own homes, this not only limits the flexibility of folks to move for work but also has driven prices so high that even those in the top income bracket for Canada cannot afford to purchase a home in Vancouver and we may see an exodus of talent further deteriorating Canada’s future. Unfortunately I have to fly to Memphis on the 25th to deal with a major mill closure…first direct impact of the yuan devaluation. 375 high paid US jobs gone…unfortunately China may have just stopped the Fed from raising rates of we see much more negative… Read more »
Whistler or bust?
Guest
Whistler or bust?
My take on the market: Interest rate increases in the US are likely off the table. Their economy is very strong but the last thing they need is a stronger dollar. They don’t care as much about the stock market as people think. Their goal is low inflation and strong jobs. Canada may or may not cut but it makes very little difference to Van RE. The last cut was only very partially passed on. If you can’t afford to buy at 2.89% you can’t at 2.49%. That said the 5 yr. Canada is around 0.60% so there is still nice profit for banks lending at 2.50-2.60% The US economy is the one that matters. NOT CHINA! Everyone knows they are struggling to deal with their slow down and oil and all commodities have priced this in. The US is… Read more »
Yunak
Guest
Yunak

@43

Thats why the rats are leaving the ship, with their HOT money before it sinks. A lot of the money has made it to and laundered through Vancouver real estate.

And from all the ratholes across the World those rats picked Vancouver to make a brood??? Sounds like a lots of rodenticide will be required to clean up the shit after the party?

paulb
Member

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