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Friday Free-for-all!

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122 Comments

Another weekend looms!

Inventory is at rock bottom levels!

We have temporarily turned off comment voting!

How you all doing?

What if this weekend we talked about the only thing that matters: data

Without data the causes and solutions to the Vancouver housing bubble are subject to endless bickering that devolves into nonsense.

WITH data the causes and solutions to the Vancouver housing bubble will also be subject to endless bickering, but at least the dabate could be based on facts.

That would be progress.

Post your thoughts in the comment section below and have a very good weekend!

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ostritch

I can agree with that Hamster.

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GreenSalad

Any drop in homeowner’s equity is called “stealing” but negative interest rates is called “unconventional policy”….

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realist

from Bloomberg Video:

“Australia’s Property Boom Leads to Empty Homes”

Almost 5% Melbourne dwellings are vacant according to water-use data.

(Of course, there’s no evidence of anything similar in Vancouver)

http://finance.yahoo.com/video/australias-property-boom-leads-empty-023034001.html

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Hamsteronwheel

Shorter term. I’m m taking 1-3 years we are going to be more wrong. Canada is heading to NIRP. And a much lower CAD dollar. Real estate witll go through the roof. A last hurrah before a major collapse.

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paulb

New
158
Sold
247
TI:8432

http://www.paulboenisch.com

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ChinaOne

My cousin like your government. You kill dollar. We then buy 2 more house cheap.

We scared because we think your government crazy. very very crazy.

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franko

@103
Kudos for Australia’s new Liberal prime minister.

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patriotz

@104:

CRA has been getting information from land titles for years. For example, from 2013:

http://www.canadiantaxlitigation.com/sales-of-condominium-units-under-audit-by-canada-revenue-agency

This particular article is about taxing proceeds of flips as business income rather than taxable gains.

I also feel, as I’ve said before, that the Aussie “crackdown” is worthy of Captain Renault.

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space899

– Don’t ever imply China is full of lawless scumbags (even though we all know it’s true) or idiot 50-cent scumbag trolls like me, Victor Wong, will ruin your blog.

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space889

– What’s their definition of suspicious transaction? Is it just transactions over $10K or series of transactions just under $10K? Or is it something more specific?

When you got a group of foreigner with tons of cash to spend, it wouldn’t be surprising to see higher amount of suspicious transaction. The better question is what are they doing about it? Why only raise this concern now? It’s not like these suspicious transactions only popped up recently.

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Yunak

@110

I totally agree with you here. Those Chinese scum that flooded Canada should be send back before firing squad at home to set example and spare us all unnecessary crap on both sides.

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space889

– so basically replace 1 set of parasites with another set of parasites, except the 2nd set is permanent and will continuelly suck from the teat of society to engorge themselves.

Frankly, if Canada really wanted foreign money stopped, simply start handing back all the fugitives sought by China without all these grandstanding about no death penalty, refugee claims & hearing, constitutional challenges to the extraditions, etc, and collect its 50% of the loot to boot. But no…we must always put criminal’s rights first and protect them. If you let scums in and then protect them when justice comes looking for them, what do you expect?

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realist

@93 “Vancouver-area banks reported suspicious transactions involving Mainland Chinese clients 17 times more often than those tied to citizens of any other outside country in recent years.”

Surely this is racist propaganda. Or racial profiling. Or statistical-demographic skullduggery. Or, could it be the truth?

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space889

BoC is willing and able to go negative interest rates. Imagine what a 1% 5yr mortgage would do to the housing market, especially for cash rich investors.

http://www.zerohedge.com/news/2015-12-08/canada-just-hinted-negative-interest-rates-are-coming

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ostritch

Rob Chipman adds in everything into his list as I remember, empty lots etc. He numbers have always diverged from Paul’s. You can’t tell Rob much. He don’t listen. But then again why should he? He was right, we were wrong.

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Heywood Jablowmie

After that unusually dry spring/summer/fall, and now that the regular monsoons have returned, it’ll be interesting to see all the new leaky condos.

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vangrl

“The government has no responsibility in guaranteeing that property prices would only go up, and not the other way round. Our responsibility is to address the public’s housing problem by increasing housing and land supply … and to curb demands in three areas, namely investment demand, speculative demand and demand from outside of Hong Kong.”

Take note Christy

http://www.scmp.com/news/hong-kong/economy/article/1888271/hong-kong-property-market-cy-leung-says-stamp-duty-staying?utm_source&utm_medium&utm_campaign=SCMPSocialNewsfeed

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Yunak

@103

Exactly what Canada needs in order to increase employment across government agencies, mainly CRA, Fintrac, legal departments, establish law and order and regain trust of Canadian citizens. The whole enterprise could be easily financed through expropriation and confiscation of illegally acquired goods through money laundering and other similar activities.

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Best place on meth

From Australia:

“Foreign buyer crackdown: ATO demands 32 years’ worth of property records”

http://www.domain.com.au/news/foreign-buyer-crackdown-ato-demands-32-years-worth-of-property-records-20151208-gli90b/

The government will cross-check the records of 11.3 million people in a bid to hunt down illegal owners of Australian real estate.

On Tuesday, the Australian Tax Office – responsible for overseeing foreign property investment – put in a request to access 32 years’ worth of data relating to property transactions across the country.

The ATO has demanded revenue and land title authorities across all states and territories hand over information from between 1985 to 2017 relating to property sales, sub-divisions, land transfers and valuation details.

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ostritch

BOC talking negative interest rates and the Saudi’s are gonna smash oil prices (while they pay for the spread of Wahhabi Islam throughout the world). Fuckerz the world over.

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space899

Sorry for mess up vote. I was off my meds,

Victor

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Yunak

Just simply rename the tower to Mao Zedong. There are plenty of local worshipers and will do “good for local economy” as usual.

https://www.biv.com/article/2015/12/trump-name-should-be-removed-trump-vancouver-tower/

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Oracle

http://money.cnn.com/2015/12/07/news/economy/china-foreign-exchange-reserves-shrinking/

“Chinese sets record for illegal outflows in November”

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Oracle

Poloz is in the same camp. he has officially stated that if housing crashes, he will take interest rates negative.

He is speaking live right now.

Only chance for lower prices is to flood working class Chinese blogs about how their country folk are robbing them blind and living the life in Vancouver.

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