Friday Free-for-all!

It’s that time of the week again – Friday Free-f0r-all time!

Lets do our regular 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:

Tools to cope with overheated market
Property tax proposal
Fed to raise rates in December?
Craigslist Math
Empty houses consume services
CMHC ‘walking tightrope’

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

@27: “95 dead and hundreds injured in Turkey, also claimed by ISIS.”

ISIS did not claim responsibility for the Ankara bombing. The Turkish government said they were responsible. The victims were mainly Kurds and members of the Turkish opposition calling for an end to fighting between the Turkish government and the PKK. And it happens that the Turkish government considers the Kurds fighting ISIS to be allied to the PKK.

Indeed we need to tell the good guys from the bad guys.

Dave
Member

Royce, I think the ISIS attacks are related to local real estate.

If Canada is taking 25,000 of Syrian Refugees, that probably means Vancouver will get somewhere around 5,000 people. That’s a lot of housing demand.

It’s amazing that a month ago, our politicians were in a race to take the most refugees and anybody who pointed out the security risk was labeled a xenophobe. I think it’s very risky to just take people in without doing a proper background check. The other problem is that most of these people are young males, which is the highest risk demographic for terrorism. Does CSIS have the capacity to check on these people? These are legitimate questions and I’m not saying this because I’m against taking refugees. Historically refugees have done well here.

southseacompany
Member
southseacompany

“Canada’s housing agency ‘stress tests’ 4 scenarios where market drops”, Global News

http://globalnews.ca/news/2337332/canadas-housing-agency-stress-tests-4-scenarios-where-market-drops/

“The federal housing agency revealed this week it has reviewed and analyzed at least four possible scenarios in which the country’s much-fretted-over housing market could decline, potentially causing billions of dollars in mortgage losses.”

southseacompany
Member
southseacompany

“Quantitative Easing? Negative Interest Rates? Bank Of Canada Explores Policy Options”, Huffington Post

http://www.huffingtonpost.ca/2015/11/13/boc-looks-to-innovate-as-conventional-monetary-policy-stretched-to-its-limits_n_8553794.html

“The Bank of Canada is launching what it calls an ambitious research agenda to further explore how other countries have responded to crisis at a time when conventional monetary policy is stretched to its limits.”

Oracle
Guest
Oracle

SouthSea:

Do you have any opinions of your own? You just post links.

What you saving your reputation for? Politics or afraid of Big Brother? lol

GreenSalad
Guest
GreenSalad

“Clark has said purposefully lowering the value of homes would hurt current owners, who would be “robbed” of significant amounts of equity.”

http://bc.ctvnews.ca/mayor-says-vancouver-real-estate-market-not-a-race-issue-1.2638666

I guess Christy’s myopic view of the world doesn’t include the futures of Vancouver’s young families being ROBBED.
She should shut her mouth unless her government is going to step up to the plate instead of obfuscating.

david
Guest
david

No worries about ISIS.
Our climate-change prince, ‘Pierre-with-hair’, wants to talk it all out.

Yup. A real Neville Chamberlain lite.

Ulsterman
Member

Londonernow:

Interesting to see London prices sliding a bit. When i worked in London in the mid 90’s a woman i worked with bought a house in Battersea for £100k. It seemed a lot at the time because Battersea was a bit of a hole. Interesting to see that 20 years later they’re trying to flog studio apartments for £500k.

Ulsterman
Member
Pricedoutfornow: But yet, people still buy. People are just blindly ignorant, I’m not sure I’d characterize it as ignorant. There are probably some bright people who gave up and bought many years into this boom because none of the logical reasons for not buying ever proved correct. Those who bought SFH’s have been correct in their decision making. Even now, the same bear excuses for not buying seem so been-there, done-that. There’s a temptation to go, “Oh BUT NOW things really are different. Look at prices. Look at the impending interest rate rise. Look at China!” But bears like me have been saying the exact same thing for a decade. The factors were always there for the end the bubble to burst, only it didn’t. It seems logical enough that once again all the factors are there again. But why… Read more »
Ulsterman
Member
Greensalad: Christy is such a selfish idiot. I get why she says the current owners would be robbed of equity because of course she doesn’t want to govern the province during a housing meltdown. How about how the young kids graduating high school and university are being robbed of the chance to live a normal life in their own cities? And before people go they can just rent, trust me, as a large family renting sucks. Buying a home and putting down roots is the norm. I’ve experienced through immediate family members a housing bubble followed by a 50-60% bust (Northern Ireland). I’m sure it sucked for those in negative equity, but for the younger generations it was a god send. Housing became accessible once again and went from a fantasy to something you just did. Got job, saved downpayment,… Read more »
bullwhip29
Guest
bullwhip29

Transparency Intl: JUST FOR SHOW? REVIEWING G20 PROMISES ON BENEFICIAL OWNERSHIP
https://www.transparency.org/whatwedo/publication/just_for_show_g20_promises

– not surprisingly, canada scores very poorly

Shut It Down Already
Guest
Shut It Down Already

Ulsterman, if renting sucks perhaps that’s why it’s cheaper than buying, no?

patriotz
Member

@27: ” The other problem is that most of these people are young males, which is the highest risk ”

The isn’t true at all. The problem is that you and others are drawing conclusions from TV reports of those who are arriving in the EU. Yes these people are disproportionately young males for obvious reasons – it’s an arduous trip. They represent only a tiny fraction of the millions of refugees.

The refugees that Canada would consider admitting would be drawn from the millions in camps in Turkey, Lebanon and Jordan – who are predominately families. Half of the refugee population is children.

http://www.theglobeandmail.com/news/world/4-million-more-europes-crisis-pales-compared-to-syriasneighbours/article26285222/

kabloona
Member
kabloona

#30 – are you serious? Without those posts I’d have to spend half the day looking for articles…

😉

BTW, you still expecting those 15k Syrian refugees to land in Surrey?

😀

Troll….

Whistler or bust?
Guest
Whistler or bust?
The Paris attacks are incredibly sad and tragic. Such a waste of life for nothing. I know that it feels a world away but imagine if it was at GM Place, the Cactus Club and a nightclub on Granville St? I don’t think for a second that it couldn’t happen here and sadly probably eventually will. The problem with Islam in general is it does not and cannot co-exist peacefully with other religions and more importantly humanism. You don’t need to believe in any god to want to live your life in peace and respect for others. I believe that the vast majority of the western world would subscribe to this belief. For those of you who have read about Islam you know it is not a religion per se but a set of rules that prescribe how to live… Read more »
realist
Member
realist

Dear southseacompany,

A big “Thank you!” for your posts! I appreciate the time and effort you put into them. I always read them, and consider them among the most valuable on this blog.

realist

w
Guest
w

>I don’t think for a second that it couldn’t happen here and sadly probably eventually will.

Oh, yeah. We are right up there as a target for international terrorists with cities like Cincinnati, Cleveland, Pittsburgh, West Yorkshire, and Brisbane.

southseacompany
Member
southseacompany

@#41 Realist & 39 Kabloona Thanks.

I used to post opinions, but there’s a lot of those on this blog, usually based on conjecture and anecdotes. I’d have nothing to add to the same arguments. But, there are those here who have posted stats, data and information on what’s going on with the economy, especially from national and international sources. Some are longer posting. I’ve learned the most from those posts and like to add to that and keep it going.

It’s a hobby while I rent, save money, and try to keep informed of what’s going on. Whatever opinion you may have, it’s good that it be an informed opinion.

RFM
Guest
RFM

Yes, thanks Southseacompany!

I speed by all the other posts on this blog and only read yours. It’s good to be informed. Everyone can have an opinion. But the truly intelligent will quest for knowledge, not conjecture and most of the other spew that is posted here.

RFM
Guest
RFM

And Southseacompany, we can create your own thread over at VanPeak if you want. Just informational posts.

Ulsterman
Member

Shut It Down Already Says

Ulsterman, if renting sucks perhaps that’s why it’s cheaper than buying, no?

NO SIDA, you gone and got yourself all mixed up and confused cause and effect. Renting is only cheaper because it’s based on local incomes. Are there downsides to renting for families? Sure. Are there downsides to buying at today’s prices? Sure.

Before the bubble took hold, houses could be rented for similar to the cost of a mortgage. Cheap, easy money and foreign buying inflated buying prices. It has nothing to do with an inbuilt differential because renting sucks. But you knew that anyway.

Shut It Down Already
Guest
Shut It Down Already

Ulsterman, if the monthly rent cost about the same as a mortgage including principal then obviously houses were heavily under-priced back then.

Oracle
Guest
Oracle

Today, Poland had its biggest anti-immigration rally in history.

One of Frances’ main political parties want to shut down all mosques in the country.

Chaos because RE/business interests want to keep importing people for ponzi schemes.

Lower mainland will be a mess in 20 years. Unrecognizable.

realist
Member
realist

@48 Oracle says:

“Chaos because RE/business interests want to keep importing people for ponzi schemes.”

You have hit the nail on the head of the incessant lobbying for population increase, whether it be by immigration, refugees, TFW, natural increase, etc. If the entertainment industry is the business of putting “bums in seats”, then to paraphrase, RE is the business of putting “bums in beds”…and every bed requires a certain square footage, a roof, a toilet, services, etc.

Whatever other real economic and ethical issues surround the issue population increase (and there are many), the RE lobby supports it anytime, anywhere, anyhow, for its own enrichment.

ostritch
Member
ostritch

Speaking of Christie Clark, is she still our Premier? Don’t Premiers make the occasional speech and announce things? Like policy or something?