Realtors not hungry

RFM has updated the Realtor Hunger Index over at VancouverPeak.

The VANCOUVER REALTOR HUNGER INDEX is the percent of realtors who earned no commission income for the stated month. For August 2015 the VRHI was 49%. How does this compare? The 18-year average for August is 50%. At 49%, the 2015 August VRHI was higher than 8 years and lower than 9 years since 1998.

Despite turmoil in the speculative equity markets, an ‘official’ recession in Canada, oil prices that are plumbing the bottom of the barrel, foreign money-laundering investigations by the Canada Revenue Agency, corrupt politicians, greedy realtors, rapacious real estate marketing firms and a plethora of other factors that should cause a collapse of the Vancouver housing bubble, continued lower-than-average inventory and strong demand forced already high prices higher, especially in single family homes, where the HPI increased a whopping 17.5% from August 2014 to $1,159,600. Endlessly-low interest rates (and clueless BOC leadership), a flood of foreign investment money and knee-jerk buying by uninformed and delusional buyers, the August sales rate is extraordinary! And unsustainable. My official opinion of all this is available 24/7/365 for US$0.05! Call now! Operators standing by! However, for a more detailed and scientific analysis of the market dynamics of this firestorm, consult the DSM-5! (The Diagnostic and Statistical Manual of Mental Disorders (DSM-5), published by the American Psychiatric Association, offers a common language and standard criteria for the classification of mental disorders.)

Details and comparison data for 18 years at: http://vancouverpeak.com/showthread.php?tid=64

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VanRant
Member
VanRant

CIBC bank supports clients who break China’s cash-export laws, to buy Vancouver homes
http://www.scmp.com/comment/blogs/article/1854618/judges-cibc-bank-supports-clients-breaking-chinas-cash-export-laws-buy

Shut It Down Already
Guest
Shut It Down Already

What’s the problem? The article itself says multiple times that the banks are operating under Canadian law and have no obligations to uphold the laws of other countries.

VanRant
Member
VanRant

China’s financial regulators are targeting illegal money-transfer agents who help wealthy Chinese transfer funds out of the country…

If China’s authorities are successful is stemming the tide of illegal money transfers, then it would obviously reduce the amount of overseas funds flowing into Australian property, thereby reducing price pressures and potentially exacerbating the inevitable housing downturn.

http://www.macrobusiness.com.au/2015/09/china-comes-after-our-money-launderers/

Bo Xilai
Member
Bo Xilai

I hope China blocks CIBC’s operations in Hong Kong to show them a lesson. Canadian banks should not be facilitating the skirting of another country’s capital controls or laws. Look at what the US does to financial institutions which flout it tax rules.

Westside Realtor
Guest
Westside Realtor

Straw continues to pile up on the camel’s back.

‘nough said.

WSR

crikey
Guest
crikey
#115 Ulsterman in previous thread said: “Those of us in this position have lost out enormously. It’s not just being priced out. It’s the uncertainty of renting houses that get sold out from under you.” What have you lost exactly, if the tide of non-resident wealthy purchasers aren’t stopped from coming to Vancouver for 20 or 30 more years? The ability to buy in one particular city? There are many more cities that are much more affordable, which have much better career opportunities. Perhaps you lost the ability to see the recent gains in Vancouver real estate caused by non-resident purchasers? Well, you weren’t ever going to go in it for the gains anyways. And the gains aren’t real until people cash out (and if soon enough could be wiped out by interest rates and a late government reaction to… Read more »
Best place on meth
Member
Best place on meth
Best place on meth
Member
Best place on meth

@1

The annual limit on sending money out of China is $50,000. Annual, as in, per year.

If the communist thugs had any sense they would limit people to $5000 per transaction so that 10 transactions per year would have to be made instead of one to get out the legal maximum.

Then the money-laundering scumbags would have to find 10 times as many smurfs, and as per your article one of them already ran out of bodies on the Canadian side – hence the need to turn to a CIBC banker who was on the same ethical wavelength as the locust.

Imagine the hassle of trying to buy a $3 million Dunbar house using 300 smurfs in China and another 300 in Vancouver, the logistical nightmare would send them into cardiac arrest.

patriotz
Member

@4: “I hope China blocks CIBC’s operations in Hong Kong to show them a lesson.”

Why don’t they show their own damn banks, which are the ones sending out the money, a lesson? Remember this is a country which imprisons and tortures anyone deemed a threat to the state, like human rights lawyers, at will.

patriotz
Member
paulb
Member
Active Member

New Listings 216
Price Changes 65
Sold Listings 144
TI:11652

http://www.paulboenisch.com

space889
Guest
space889

@Shut It Down Already – Unless that country is USA in which case you better follow their law (eg. FACTA) regardless fo whether you even have a physical branch in US.

space889
Guest
space889
CIBC is small potatoes…HSBC along with the big four Chinese banks that has branches in Vancouver are where the action is at. And for those places, there is no actual physical money capital transfer taking place with regard to the individual. The person just depost 5M RMB into a branch in China, buy a house here, and basically have the FX equivalent of RMB deducted from the bank account. The bank pays the homeowner using the cash it has in Canada. There is no actual physical FX transaction and taking the $$ out of the country by the individual. It is basically like when you go shopping in US. Does the $$ you spend in US represent a physical capital outflow? No, you spend the money in US on a credit card, and come back and pays off the card… Read more »
Shut It Down Already
Guest
Shut It Down Already

Diadoea, given that the Canadian banks would operate in the exact same way (that is, within the realm of Canadian law) with regard to ANY other country it begs the question of why even bring up China specifically in the first place. Oh, wait, I think I know…

vangrl
Member
vangrl

listings are piling up…

Whistler or bust?
Guest
Whistler or bust?
Ontario Teachers’ to Buy Amica Mature Lifestyles BayBridge Seniors Housing is offering C$18.75 per share for each Amica share By JUDY MCKINNON And BEN DUMMETT Sept. 2, 2015 11:43 a.m. ET 0 COMMENTS A unit of Canadian pension fund giant Ontario Teachers’ Pension Plan agreed Wednesday to buy luxury retirement-home operator Amica Mature Lifestyles Inc. in a deal worth about 578 million Canadian dollars ($435 million). Oh NO BBB the bubble chasing sheep just made 100%+ in one day and they didn’t own a SFH in Van. THE HORROR! Before you say how many? Well there are 3 million shares outstanding so I would say a lot. I wonder how long till SFH in Van go up 110%? I’m sure you’ll tell us 3 years. BayBridge Seniors Housing Inc., owned by Teachers’, is offering C$18.75 per share for each Amica… Read more »
Son of Ponzi
Guest
Son of Ponzi

WTF are you down voting #13?
He makes a lot of sense.
Take your heads out of your behinds.

realist
Member
realist

@17 Son of Ponzi Says: WTF are you down voting #13?

Habit! Space889 usually posts nonsense about imaginary slights. But she/he can do and has done better, as in post #13, which I upvoted.

Tiger
Guest
Tiger

ONLY IN CHINA

1)Husband tortures pregnant wife in public, Villagers say she didn’t get dinner ready when husband was back home from work.

https://www.youtube.com/watch?v=bqFh42P5n6k

2)Zhu Yu – Eating People

https://www.youtube.com/watch?v=JuIRClbBPOM

realist
Member
realist

@9 patriotz Says: “Why don’t they show their own damn banks, which are the ones sending out the money, a lesson? Remember this is a country which imprisons and tortures anyone deemed a threat to the state, like human rights lawyers, at will.”

Indeed, as you point out, this is a state that doesn’t fool around when it perceives its interests threatened, and doesn’t hesitate to take stern measures to remedy same: torture of human rights lawyers, mobile execution vans, etc. So? How could such a regime fail to stem the tide of $$$ leaving the country? I would suggest: crony capitalist corruption, with banks doing their usual bit a financial intermediaries.

ChinaOne
Guest
ChinaOne

Union Pay.

We buy car with Union Pay. My cousin buy 2 Porshe Panamera with union pay.

BC politician like us. We keep buy houses and car. We like clean air and healthcare. We like education and more Asian restaurant. We pay all cash to eat we get better service. I like Beijing too.

southseacompany
Member
southseacompany

Sounds familiar;
“Revealed: the widening gulf between salaries and house prices”, The Guardian, UK

http://www.theguardian.com/uk-news/2015/sep/02/housing-market-gulf-salaries-house-prices

“Buyers in England and Wales forced to spend up to 12 times their income as gap between earnings and house prices widens”

““The biggest factor is that in the run-up to the crash, interest rates were low, so you could afford to service a bigger mortgage then. There was also low inflation on essentials like food, fuel, transport and utilities, so people had more money in their pockets and were able to gear up for bigger mortgages.””

southseacompany
Member
southseacompany

“IMF warns against rate rises by leading economies”, The Financial Times

http://www.ft.com/intl/cms/s/0/fa98da70-51ac-11e5-8642-453585f2cfcd.html#axzz3kel1ugpT

“The IMF urged the world’s leading central banks on Thursday to refrain from raising interest rates in a bid to boost spending in the global economy when risks to growth were mounting.”

“It suggested the ECB should also expand its programme of quantitative easing in which it creates euros to pump into the economy through the purchase of government bonds.”

“And the IMF called on the Bank of Japan to stand ready for further easing.”

“And the IMF called on the Bank of Japan to stand ready for further easing.”

southseacompany
Member
southseacompany

Poloz’z rate cuts help housing, but not business?

“Canada’s era of cheap corporate debt ending with global turmoil”, BNN

http://www.bnn.ca/News/2015/9/2/Canadas-era-of-cheap-corporate-debt-ending-with-global-turmoil.aspx

“The market turmoil that swept the globe last month also rattled Canadian debt, causing the biggest spike in company borrowing costs in three years and shaving $9 billion ($6.8 billion US) off investors’ holdings.”

“Corporations looking to raise funds as issuance revives following the slowest August in a decade face higher borrowing costs even after Canada’s central bank cut interest rates twice this year to spur a cooling economy.”

ChinaOne
Guest
ChinaOne

We buy Richmond. My cousin buy Vancouver house. We in Shanghai in winter. Come back sommer time. Your daughter work as maid in our house in future. China be superpower. You will see

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