Friday Free-for-all!

Friday Free-for-all time!

It seems like we have one of these almost every single week.

This is our regular end of the week news round up and open topic discussion thread for the weekend.

– some links to go here later(?)

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

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Shut It Down Already
Guest
Shut It Down Already

109, good point. Do you think that offsets the loses from shorting HCG right before the price doubled?

vangrl
Member
vangrl

“Home sales in Calgary were down in August but prices are expected to stay steady or even rise slightly over the next year, according to a report from the Conference Board of Canada.

Volumes of home sales in Alberta remain “weak,” according to the Conference Board’s Metro Resale Snapshot, with August listings down nearly 19.8 per cent from last year and sales down by 31.2 per cent.

Average sale price was also down slightly to $457,420, off 1.3 per cent from August 2014.

But the same report pegs price expectations for Calgary in flat-to- positive territory over the next 12 months.

The Conference Board expects zero to 2.9 per cent growth in sale prices between now and this time next year.

Overall, the report classifies Calgary’s real-estate market as “balanced” in August, with a sales-to-new-listings ratio of 0.595.”

http://www.cbc.ca/news/canada/calgary/calgary-home-sales-down-but-small-price-increase-expected-1.3247050

vangrl
Member
vangrl

#108

what’s your point? the low of the day on Aug 26th was the same as today. So he’s either the same plus a dividend payment, or he sold at any time in the last month and made a profit.

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

patriotz Says:
August 26th, 2015 at 8:20 am 212
@210: “stocks, unlike houses are liquid they said. i can push the sell button anytime i want they said”

And we can press the buy button any time we want. Like I just did.

vangrl Says:
August 26th, 2015 at 12:32 pm 221
I don’t know Bull, Patriotz is lookin’ pretty smart right now.

bullwhip29
Guest
bullwhip29
UBC in crisis mode
Guest
UBC in crisis mode

If you bought any property lately, what was the best variable rate you got, 2%? 1.8%?
Thanks

bullwhip29
Guest
bullwhip29

anyone have access to details of recent land purchases of significance on the sunshine coast? this will be sweet deal for “someone” if/when it happens. get the last of the waterfront view properties before they disappear forever (and/or another bridge or tunnel to somewhere else gets built or vanc waterfront gets extended dubai-style)

https://www.biv.com/article/2015/9/proposed-highway-link-sunshine-coast-angers-west-v/

bullwhip29
Guest
bullwhip29

@ #100

you’ve heard the saying, stocks take the stairs up and the elevator down

owning RE with excessive leverage is like being trapped in the upper floor of a burning building with the stairs blocked off, the elevator shut down and the only viable exit being the window

bullwhip29
Guest
bullwhip29

@ #98

totally agree. boilerplate press release with the usual buzzwords like bilateral, conversation, roundtable etc… usually means nothing of substance will materialize.

besides, they only said they would “look” but not necessarily “touch”, right?

space889
Guest
space889

Admin – so issues with the Chinese equivalent of the N word being used on this site uh??? I guess it is basically racist remarks for all eh?

Bo Xilai
Member
Bo Xilai

A little levity is required in times like these for Vancouver Real Estate…

Luxury condo development destroyed to make way for tiny independent bookstore

http://syruptrap.ca/2015/09/luxury-condo-development-destroyed-to-make-room-for-tiny-independent-bookstore/

space889
Guest
space889

@Mister Obvious – But stocks are totally different right? Cuz it’s wealth and profit and gains, even if you don’t sell?

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

stocks, stocks, stocks, stocks!

VanRant
Member
VanRant

CMHC to look at foreign ownership of Canadian real estate

http://www.thestar.com/business/2015/09/24/cmhc-to-look-at-foreign-ownership-of-canadian-real-estate.html

Its like asking a coyote to go into a coop to count chickens.

space889
Guest
space889
@West Coast Woman – What? You think the local small time flippers are any different with regard to paying capital gain taxes on their flips? By your account, the guy/girl put up $4M+ in initial investment for the flip, and followed the rules. CRA says you can designate one residence as your primary residence. It doesn’t actually say you have to live there 365 days of the year as far as I know. That’s why a couple can have 2 primary residences, even though it is rediculous to think that the couple will actually live in different houses majority of the time in the same city. As I said before, this type of “fraud” is probably the easiest to prove by CRA and assess some major penalty if successful. If you have evidence, please actally phone the CRA tip line… Read more »
bullwhip29
Guest
bullwhip29
@ #80 re. HAM on ferries etc island RE has been in the doldrums ever since 2008. unfortunately for many who thought Victoria RE would get swept up in all the hoopla (just because…) and bought specifically to flip short term, prices havent budged for many years and this info comes directly from folks who have been trying to sell their places for years without getting any offers they liked. for the most part, HAM not interested in living on the island for a variety of reasons. i’ve been back and forth on the ferries numerous times this year. given all the hype about the supposed boost in tourism (due to improved US economy, crashing loonie etc…) i was rather shocked to both see the ferries half empty most of the time and a marked lack of HAM crowding into… Read more »
fishy-smell
Guest
fishy-smell
I think we have become the number one destination for the international wealthy, especially the bent crooked types. What do we have; 1) Banks and lawyers that will help you break your own country’s rules and ignore Fintrac to get your money in 2) Realtors who are not reporting to Fintrac 3) If you smuggle money in, we slap your wrist and give you a tiny fine and give your money back to you! 4) No one asks you to pay tax on your income. The CRA is fangless. 5) Zero chance of extradition. 6) Enjoy all our services. 7) Buy whatever real estate you wish. Pretend you live in it to get a capital gains exemption, or better still dont even submit a tax return, ever. 8) Politicians who have said there is no way they would restrict you… Read more »
crikey
Guest
crikey

Looks like a man has been found dead in his car, with a bullet wound, Oak Street and King Edward (w25th).

But don’t fret, peeples! nothing o see here!! Vancouver’s best-place-on-earth experts are on the case!

Obviously, the man committed suicide, by firing a gun at himself multiple times from outside the car, through the closed car window. Either that, or he intentionally drove his car *sideways* through several bullets that had been suspended in mid-air over the street.

Another open-and-shut suicide case for coroners here in the best place on earth!

http://www.vancouversun.com/mobile/story.html?id=11395127

Mister Obvious
Guest
Mister Obvious

@92 YLTNboomerang

Most are financial dopes, but have amassed very significant wealth from simply living in their homes and making monthly payments.
—————————————

And they remain financial dopes. They haven’t amassed squat until they sell. And it sure sounds like they lack the cojones to take the profit that is aching to be realized. Poor them. You, on the other hand, own liquid assets. Hopefully, they are well diversified.

Your buddies hold a single risky asset that pays them nothing while incurring huge carrying costs. You should not envy them because they are dumb enough to risk a huge financial ass kicking.

No one who is truly wealthy acts the way they do.

Ulsterman
Member
YLTNboomerang Says No i didn’t buy. Each time i thought about quitting the housing bear game, another little voice said, “No the end may be soon. Don’t be the sucker who after all these years on the sidelines finally buys in at the top.” And then the upwards march in prices goes on. Now i’ve been renting so long that i’m just that renting oddity amoungst my friends. Theey all bought so long ago that their 2.5% mortgages are less than my rent, and they have hundreds of thousands in equity built up. Each month half their payment goes towards principle. I just try not to think about it – it’s too painful! I’ve done reasonably well in the stock market, but i can’t keep up with the tax-free equity growth of my friends. Most are financial dopes, but have… Read more »
realist
Member
realist

Who is Jenny Kwan? Well, here’s her Wikipedia bio:

https://en.wikipedia.org/wiki/Jenny_Kwan

She encompasses in one delicate female form the horrendous failure of the left over the last 40 years. While preoccupied with political correctness, the rich have stolen their breakfast. And their dinner. And their future! So, you might ask, what evidence is there for such a contentious statement? Real incomes in North America peaked for the working class over 40 years ago.

Best place on meth
Member
Best place on meth

@89

Well I’ll be damed, he DID mention the chinks in that post.

That’s uncanny.

Shut It Down Already
Guest
Shut It Down Already

WSR, you said the same thing in post #50 here:

http://vancouvercondo.info/2014/12/fffa.html

Time for some new material?

Westside Realtor
Guest
Westside Realtor

I continue to see chinks in the armour.

Less HAM now than a year ago.

WSR

vangrl
Member
vangrl

In order to be declared a Non-resident for Income tax purposes, you must NOT have “significant residential ties”

Significant residential ties to Canada include:

a home in Canada;
a spouse or common-law partner in Canada; and
dependants in Canada;

So there’s that…