Friday Freeee-for-all!

Guess it’s October huh?

And seeing as how it’s the end of another work week, why don’t we do our regular end of the week news round up and open topic discussion thread for the weekend?

It’s Friday Free-for-all time!

Here are a few recent links to kick off the chat:

All aboard the debt train!
The perfect balanced market
For sale: Bentall Centre
No one wants to cool the market
Shaughnessy protected
Hard times
Jenny Kwan misquoted
Canadian foreign buyers
World economy on its head?
The risks of interest rates

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

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patriotz
Member

@previous: “Well well the big money is cashing out Bental towers up for sale.”

Everyone should keep in mind that the commercial RE market is entirely distinct from the residential one – different product, buyers, financing and taxation – so what’s happening one is not much of an indicator for the other.

IMHO incumbent investors getting out of commercial RE indicates a lack of confidence in the real economy. But that’s not news.

KW
Guest
KW

What little we know about the Harper government’s many international trade deals is cause for grave concern.

Selling Canada out, one deal at a time

“Considering the financial transfers they tend to create, a more precise name for these deals might be: A Locked-In Agreement to Transfer Public Money to Large Companies, Lawyers and Arbitrators.”

http://www.thestar.com/opinion/commentary/2015/09/30/selling-canada-out-one-deal-at-a-time.html

Shut It Down Already
Guest
Shut It Down Already

All the FFFA links seem to be broken.

Bullwhip29
Guest
Bullwhip29

Canada’s ruling Conservatives seek investigation into pro-Trudeau group, based in Chinese graft suspect’s office
http://www.scmp.com/news/world/article/1863522/canadas-ruling-conservatives-seek-investigation-pro-trudeau-group-based

>>>absolutely laughable that this story is suddenly picked up by the msm now. Be careful what you wish for mr Harper…

Shlomo
Guest
Shlomo

http://www.oregonlive.com/front-porch/index.ssf/2015/09/no_californians_stickers_being.html

Realtor shaming is alive and well in Oregon, with “No Californians” stickers being slapped onto stickers around town.

We need that here, but not something overtly racist like “No Chinese”, but rather “No DAM (Dirty Asian Money)”, or something like that.

Or maybe a crowdsourced site that lets people add realtors who sell to DAM at the expense of locals. A traitor realtor site, something to let the public know that the realtor they are working with would easily sell the home to a foreign investor who would leave it empty and hurt the community.

Bullwhip29
Guest
Bullwhip29

Chinese investors scoop up Vancouver and Toronto office towers, as more eye commercial market
http://www.nationalpost.com/chinese+investors+scoop+vancouver+toronto+office+towers+more+commercial+market/11406658/story.html

>>>let the bidding war games for the bentall properties begin. BUY THREE, GET ONE FREE!!!

right-or-wrong
Guest
right-or-wrong

We are witnessing probably the largest movement of wealth out of a country illegally in human history.

Also coupled with the largest ‘buy-up’ of assets of a country lock stock and barrel in history.

There is a whole industry of bankers, lawyers, realtors engaged in this with encouragement from politicians . Any wonder that no one will stand up to it except a few brave souls on Facebook (which Garth can redicule)

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

how was kwan misquoted? In her “clarification” she says that she doesn’t support tax evasion. Well no one said that she did. And the fact that the quote is so old simply shows that it’s not just mainlanders that avoid taxes, despite what HK immigrants tell us.

bullwhip29
Guest
bullwhip29

B.C. Liberals work on revisions to property transfer tax
http://www.vancouversun.com/business/liberals+work+revisions+property+transfer/11406931/story.html

“…for most families the equity they have accumulated within their home is their single biggest asset and our purpose is not to diminish that.”

“There’s also no interest in targeting foreign investors who are snapping up Vancouver properties…”

“Nor is there any intention to create a speculation tax that would penalize investors who buy properties and flip them for profit in a short period of time…”

“Is Vancouver going to suddenly turn into a low-cost housing market? No.”

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

it’s a new quarter seems appropriate to have a story about the performance of stocks last quarter as part of the firday free-for-all.

here is a link:

Equities on course for worst quarter since 2011

http://www.ft.com/cms/s/0/ced50086-66c3-11e5-a57f-21b88f7d973f.html#axzz3nQOljfQ3

southseacompany
Member
southseacompany
“National Post View: Social engineering on the cheap”, National Post http://news.nationalpost.com/full-comment/national-post-view-social-engineering-on-the-cheap “What business is it of the government whether you rent or own a home? The question arises in response to Conservative Leader Stephen Harper’s just-announced plan to increase the number of Canadian homeowners by nearly three quarters of a million within five years.” “Still, just because a thing is popular doesn’t mean it isn’t the right thing to do. Alas, it isn’t the right thing to do. It’s social engineering on the cheap.” “Harper called home ownership “one of the most unmistakable marks of economic success.” And indeed it can be, if it results from free choice in competitive markets that allocate resources efficiently. But when governments start distorting incentives, you get Potemkin prosperity, with higher-cost options becoming deceptively cheap to the actual buyer at the expense of everyone… Read more »
bullwhip29
Guest
bullwhip29

Deutsche Bank: Weakest quarter for risk assets in years

“The third quarter of 2015 proved to be the weakest quarter for risk assets for some years and most market participants are probably glad to see the back of it,” wrote Jim Reid, global strategist at Deutsche Bank, in a Thursday note. “Indeed Q3 saw the poorest quarterly performance for the S&P 500 (-6.4%) and the Stoxx 600 (-8.4%) since Q3 2011. It was also the worst quarter for the Nikkei (-14%) since 2010 whereas in [emerging markets] the Shanghai Composite (-28%) and Bovespa (-15%) posted their worst quarterly scorecard since 2008.

http://www.marketwatch.com/story/heres-how-ugly-the-third-quarter-was-for-stocks-and-commodities-2015-10-01

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

China Finally Wants To Clear The Air

https://www.youtube.com/watch?v=_w4x2qez138

bullwhip29
Guest
bullwhip29

the way everybody’s talking, you’d think there were no properties on the market in gr vanc. remax’s map search makes it too easy to get a quick lay of the land. perhaps these functions should be restricted to insiders only?

http://tinyurl.com/ojwsg3f

space889
Guest
space889

Well I’m sure all the bears aka investment genius on this blog all cashed out at the right time and/or bought the dips and is totally just loving the recent market volatility and making lots and lots of $$$.

elvince
Guest
elvince

@Space: didn’t cash out at peak, but certainly buying the dips.

Doesn’t hurt that:
1-No dividends of mine were cut;
2-I’m still young, therefore lots of my money is still to be made. Lower market prices (whether for RE, stock, bonds or hamburgers) is a good thing for me, since I’ll be a net buyer of all those things for quite a long time.

patriotz
Member

@5:

It’s the owner who decides who to sell to, not the realtor.

An owner who decided to sell to locals only would be a fool anyway, since the “local” could just be a proxy for an offshore buyer.

Yunak
Guest
Yunak
VanRant
Member
VanRant

“The State Administration of Foreign Exchange, China’s foreign exchange regulator, has imposed annual limitations on cash withdrawals outside China on China UnionPay bank cards”

“The new rules could be the first in a series of measures leading to draconian prohibitions of transfers of money from China.”

http://www.worldaffairsjournal.org/blog/gordon-g-chang/china-imposes-new-capital-controls

Possible no HAMs from China Soon?

Yunak
Guest
Yunak

@19

It is yet another joke for Chinese who are pumping money out. Only Canada could do something to stop their orgy but it doesn’t want to. Money is sweet and sexy either dirty or clean.

patriotz
Member

@20:

Only China could do something. Obviously if Canada stops taking money from China they’ll just send it somewhere else, there are plenty of countries that aren’t fussy.

space889
Guest
space889

@patriotz – So basically money trumps principle? I mean what’s principles anyway? It’s not like you can buy stuff, or feed & house your families with it. As long as there is enough $$$, anything goes right?

Wait….if this is the case, how are you guys that different from a bunch of morally lacking money greedy commies??

@Yunak – so basically, you are admit Canada is a money whore? Despite all of you getting on some moral high horse screaming about the bloody locusts, in the end, you aren’t that different cuz well, $$ as Patriotz points out, trumps all else, and if you don’t take someone else will, so just take the $$ and everything else be damned, right?!

Yunak
Guest
Yunak

@22

I think you should see a doctor, you need some professional help.

vangrl
Member
vangrl

#19

Good.

“On a recent day at the Choi Seng Jewellery and Watches company, a middle-aged woman strode to the counter past dusty shelves of watches. She handed the clerk her UnionPay card and received HK$300,000 ($50,000) in cash. She signed a credit card receipt describing the transaction as a “general sale”, stuffed the cash into her handbag and strolled over to the Ponte 16 casino next door.
The withdrawal far exceeded the daily limit of 20,000 yuan, or $3,200, in cash that individual Chinese can legally move out of the mainland. “Don’t worry,” said a store clerk when asked about the legality of the transaction. “Everyone does this.”

http://www.cnbc.com/2014/03/12/how-chinas-official-bank-card-is-used-to-smuggle-money.html

and back in Vancouver…

“Access to mainland China’s biggest bankcard spreads to Vancouver…”

https://www.biv.com/article/2014/11/access-mainland-chinas-biggest-bankcard-spreads-va/

VanRant
Member
VanRant

@19
The new limit for the UnionPay card will be about $15,708 cdn next year. It will take approx 190 years to buy that $3 million house in Vancouver if they want to pay for it with UnionPay.

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