Your vote counts, we’re number 1!

So, you probably noticed some issues with the site over the last few days – mainly the comment voting system was broken.

We’ve got a temporary fix in place, so it looks like you can go back to voting on comments for now.

Meanwhile TD says BC is the most susceptible to economic shocks due to housing:

B.C. has topped TD’s list for the most financially vulnerable households in Canada for 16 years in a row. With the most expensive housing market in the country, B.C.’s households spend the largest share of their monthly budgets on paying debt, devoting 9 per cent of their income toward interest payments alone. The typical B.C. household would have to spend more than half its income in order to afford an average-priced home. Stretched affordability has meant the province has an above-average number of homeowners who are delinquent on their mortgages, TD says. Households in B.C. hold a disproportionately large share of their overall wealth in their homes, having fewer non-housing financial assets than other provinces. On the bright side, those housing assets are considerable given the soaring cost of real estate in the province. Homeowners have also adjusted to high home prices by renting out portions of their homes to cover their mortgages, TD said.

Read the full article here.

 

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space889
Guest
space889

16 years and counting….no crash or day of reckoning yet….

When is it coming? And how bad will it be?

Even a 50% crash now still means expensive house – $3M to $1.5M isn’t going to help the average professional family buying on the West Side like everyone wants to.

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

>The typical B.C. household would have to spend more than half its income in order to afford an average-priced home

half their income? after taxes and housing they will literally not be able to afford food.

how is this possible? hmmm… perhaps there is money coming in from outside BC. i wonder where that money could be coming from… this stuff is so hard to figure out!

Natcho
Guest
Natcho

Yep, 16 years of having the most financially vulnerable households in the country!

That’s amazing. Even the crash of 2008 was over in a year, most people just had to hold on and everything was fine. I wonder if next time will be that quick?

Oracle
Guest
Oracle

Trudeau/Harper doesn’t matter.

The Real Estate industry/Banks/Developers run Canada if it isn’t obvious by now. Expect about 15,000 Syrian refugees in Surrey alone over the next year or so.

Without jobs and just ‘hanging out’. They will be allowed to sponsor their families so the number 15,000 quickly equates to about 60,000.

Don’t get me wrong, we should help those that need help. Responsible action would mean that we reduce immigration in other areas to balance this inflow out.

Just make sure you’re not the greater fool paying for hospital, school, road, etc. infrastructure…..

Oracle
Guest
Oracle

Post#1

No crash until population inflows are limited.

Metro Vancouver is now officially the number 1 city in the world with respect to it being the highest per capita receiver of Immigrants in the world. You can take that to the bank.

Incomes or locals don’t matter….we are now a fascist state.

franko
Member
Active Member
franko

Couldn’t resist reposting at least part of my rant from the previous page:

That noble gesture to open the floodgates to bring in the thousands of Syrian migrants doesn’t feel all that cool anymore when we realise that they will end up competing for housing already too scarce for local residents. Don’t expect the local muslim community to open their doors any time soon, and here’s how the migrants feel about help from anyone that might be mistaken for Christians.
http://www.youtube.com/watch?v=UeMIX90-594
Instead of Trudeau placing the burden on Canadian taxpayers, the most enticing solution for anyone with a lick of common sense would be to place them in the thousands of vacant houses owned by Chinese money launderers.

My other complaint was even more cynical that might be better left to BPOM.

Vanco
Guest
Vanco

@ BBB, space

Well, the bears need hope when reality didn’t match their expectations.
You really cannot teach people what they don’t know.

Vanco
Guest
Vanco

LOL, the bears are already complaining about refugees adding pressure to the rental market.

Did you guys vote out conservatives, who wanted to limit immigration?

Bo Xilai
Member
Bo Xilai

On the plus side… there will a lot more good kebab and donair shops in Surrey. All my favourite ones in Vancouver were bulldozed to make way for condos.

patriotz
Member

What makes you think that metro Vancouver would be relatively attractive to people from the Middle East? How many such immigrants has it gotten so far?

Supposing in the short run the feds just distribute them evenly throughout Canada, 25,000 country wide would work out to under 2000 for Metro Vancouver.

Shut It Down Already
Guest
Shut It Down Already

Looks like VancouverPeak peaked in 2013.

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

>What makes you think that metro Vancouver would be relatively attractive to people from the Middle East? How many such immigrants has it gotten so far?

there are a lot of saudi english students downtown. they seem to like it here.

Shut It Down Already
Guest
Shut It Down Already

Vanco, they’ll be moaning about increased taxes and TFSA reduction next year too.

Carter
Guest
Carter

How anybody could think admitting tens of thousands of useless refugees is in any way good for Canada is beyond me. I didn’t vote for Trudeau because I know he is an idealistic idiot who will sell the farm out from under us. You can also bet your sweet bippy that there will be increased taxes and yes even a lower TFSA limit because hey, the government knows that’s the best way to control the sheep. I hope the fools who voted Liberal to “get back” at Harper will see the error of their ways in a few years. I still remember the disaster of Pierre Elliot Trudeau and believe me, the fruit doesn’t fall far from the tree.

patriotz
Member

@13: “Vanco, they’ll be moaning about increased taxes and TFSA reduction next year too.”

Next year? Looks like the next post. 🙂

Both of these were election promises. And as I’ve said before, I don’t think anyone making over $200K bothers to post here. What they are really PO’d about is something different and it’s not hard to figure out what. Well Harper’s attempt to exploit it simply got JT his majority.

space889
Guest
space889

@patriotz – Are you sure about that??? Given the posts and boosts from people like Vangrl, Whistler, etc about their stock portfolio and how much more $$$$ it made for them than houses, I would think they have to make a lot of $$$ and/or use a lot of leverage to have it on par with price appreciations of housing in Vancouver West, unless off course they got really lucky with their stock picks.

space889
Guest
space889

Ulsterman – Sorry i just can’t help it. Doesn’t franko’s re-posting of of his own posts from the previous thread just remind you of that little kid in elementary school who couldn’t wait to tell teacher on you when you’d done something naughty?

Oracle
Guest
Oracle

Patriots,

getting into Canada from a third world country is like winning the lottery.

Denying this and you are purposely being untruthful.

Here is what is going to happen now:

1) huge pressures on rent.

2) make sure you have a family dr. If you don’t by now , then your sad out of luck.

3) if you are a salaried employee, we commend you to pitch in more taxes so we can keep up with the infrastructure.

4) Real Estate will not crash in Vancouver. Hearing from friends from Middle East here already that those settled in other cities will migrate to Vancouver and Toronto.

Natcho
Guest
Natcho

Did you make this up or is it actually documented somewhere?

“Metro Vancouver is now officially the number 1 city in the world with respect to it being the highest per capita receiver of Immigrants in the world. “

Oracle
Guest
Oracle

I really don’t care if you believe them or not.

For others it’s is in this order :

1) Vancouver
2) Sydney
3) Toronto

franko
Member
Active Member
franko

@17
” Doesn’t franko’s re-posting his own posts from the previous thread bla bla bla ”

And here I thought I was giving you a break by not repeating the 2nd part of that post.

StupidityCheck
Guest
StupidityCheck

20: Metro Vancouver’s population growth is slightly below the Canadian average.

http://www.statcan.gc.ca/daily-quotidien/150211/cg-a001-eng.htm

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

world war 1 was almost 100 ears ago. it’s time we tore down the cenotaphs and put that land to good use. u don’t see people remembering the sacrifices of soldiers in the 30 years war or the mongols destruction of bagdad do you? it’s ancient history. study it as history and drop all this emotive garbage and move on.

i’ll be spending the day learning mandarin. petition to make nov 11 national mandarin education day is forthcoming.

paulb
Member
Active Member

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Vanco
Guest
Vanco

I think the bears are capitulating. Space got 20 up votes????

333 sales, unbelievable.

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