Friday Free-for-all!

It’s that time of the week again…

It’s Friday Free-for-all time!

This is 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:

no quick end to the boom
risk from heavy mortgage debt
Poloz tells Trudeau to spend
26% of Ontario struggles to afford homes
move to Austin?

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

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w00t!
Guest
w00t!

@57

Even people who bought recently have made a lot of money. Prices aren’t going sideways.

patriotz
Member

@56:

Those that bought recently have vastly different circumstances from those that bought in the past.

About all they have in common is that they don’t want prices to go down.

w00t!
Guest
w00t!

Expect a political divide between owners and renters to become a chasm. Those that bought have vastly different circumstance and needs than those who missed the boat.

Renters will seek to extract what they think they “deserve” from owners.

StupidityCheck
Guest
StupidityCheck

@51,

他妈的关闭

HAMSTER-bait
Guest
HAMSTER-bait
say whaaaa?
Guest
say whaaaa?

@51

Gongxi gongxi.

UBC in crisis
Guest
UBC in crisis

Forget about oil price, the economy in BC is booming, that is if you can flip fast enough (government is happy with all the transfer tax):

4317 W 11TH AVENUE, just listed for $3,088,000
Sale Date: July 21, 2014
Sale Price: $2,480,000

4680 W 4TH AVENUE, just listed for $4,380,000
Sale Date: September 8, 2013
Sale Price:$2,200,000

3881 W 13TH AVENUE, just listed for $2,999,000
Sale Date: March 26, 2012
Sale Price: $2,438,000

w
Guest
w

My property went up $450k since summer. WTF 🙂

For the landless peasants, if you want to get ahead learn mandarin.

say whaaaa?
Guest
say whaaaa?

@49

MSM and vested interests collude to convince people that it’s in their best interests, and that anything else is regressive or racist.

Oracle
Guest
Oracle

This market will not go down unless foreign buyers are banned/restrict illegal foreign money inflows and /or immigration is reduced.

Going to post less here on this blog as its getting tiring to state the obvious. MSM and vested interests don’t want you to know these things.

Oh, 7K party next.

bestplaceonearth
Guest
bestplaceonearth

here we go again, landless bears re-group!

Westside Realtor
Guest
Westside Realtor

It’s not the last straw that breaks the camels back. It’s all the straw already on its back.

Piled to the moon.

It will break.

Next up, making the lender take the first loss. Will change everything.

Merry Happy Holidays.

Bears will rejoice as 2016 plays out, this gasbag of DEBT stinks bad.

WSR

Shut It Down Already
Guest
Shut It Down Already

Check b5baxters graphs from that other defunct blog and it appears that inventory is at a 10 year low.

Best place on meth
Member
Best place on meth

@43

1934

FR
Guest
FR

“TORONTO — The Canadian Bankers Association warned the former Conservative government that a proposal to have banks shoulder more of the risk associated with home mortgage loans could hurt the country’s financial stability.”

Ottawa told plan to shift more mortgage risk to banks threatens nation’s financial stability

http://business.financialpost.com/personal-finance/mortgages-real-estate/ottawa-told-plan-to-shift-more-mortgage-risk-to-banks-threatens-nations-financial-stability

“For the fiscal year as a whole, the six banks reported total earnings of almost $35 billion, with Royal Bank’s record $10-billion profit leading a very healthy pack.”

Canada’s big banks earn $35B in profits for 2015

http://www.cbc.ca/news/business/bank-profits-rise-1.3348661

Frank
Guest
Frank

When was the last time inventory was this low?

franko
Member
franko

@34
As the energy component accounts for 23% of the TSX, there’s no question that the price of oil affects it a lot more than the DOW, but just for the record, the TSX is down 7.04% since our federal election while the DOW is up 0.20%…which would be even higher in CAD terms.

paulb
Member

New
88
Sold
144
TI:8149

For weekly sales and/or new listings info on a specific neighbourhood/city of your interest, email me and I will customize a weekly update for you. The daily sales numbers only mean so much. Each neighbourhod and market segment can be quite different.

Cheers!

http://www.paulboenisch.com

southseacompany
Member
southseacompany

Like real estate, sometimes brands go up, sometimes they go down.

Back In 2013:

“The 33-year-old scion of one of Malaysia’s wealthiest families basked in the spotlight in June when he announced his partnership with celebrity billionaire Donald Trump, whose brand will grace Tiah’s 63-storey Arthur Erickson-designed tower now under construction with presales slated for fall. Tiah’s decision to approach Trump surprised (Vancouver Architect James) Cheng because Cheng doubts the Trump brand will impress potential buyers in Vancouver.”

https://www.biv.com/article/2013/8/joo-kim-tiah-youth-movement/

FF to 2015:

“In a follow up to yesterday’s statement to address calls for the renaming Trump International Hotel & Tower Vancouver, Holborn CEO Joo Kim Tiah says his development company is unable to do so due to contractual obligations.”

http://www.vancitybuzz.com/2015/12/trump-tower-vancouver-holborn-ceo/

GreenSalad
Guest
GreenSalad

Illicit Financial Flows from Developing Countries: 2004-2013

December 2015 report from Global Financial Integrity, “Illicit Financial Flows from Developing Countries: 2004-2013,” finds that developing and emerging economies lost US$7.8 trillion in illicit financial flows from 2004 through 2013, with illicit outflows increasing at an average rate of 6.5 percent per year—nearly twice as fast as global GDP.

http://www.gfintegrity.org/report/illicit-financial-flows-from-developing-countries-2004-2013/

Hot off the press…..GS

UBC in crisis mode
Guest
UBC in crisis mode

China’s Alibaba is buying South Morning Post newspaper!
No more negative reporting about Vancouver RE market, money laundering, etc.

David Lee
Guest
David Lee

I wonder how this will affect Ian Young’s blog and investigative reporting:

http://www.scmp.com/business/companies/article/1890060/alibaba-buys-south-china-morning-post-groups-media-business

Heywood Jablowmie
Guest
Heywood Jablowmie

“BoC’s official mandate is to target consumer price inflation, not exchange rates.”

Yes, but keep in mind the BOC has been lobbying the government to raise the target inflation rate to postpone having to take any action.

Heywood Jablowmie
Guest
Heywood Jablowmie

>Meh, anything over a million isn’t eligible for CMHC insurance. The whole west side isn’t even an issue in this discussion.

no livable house in the city of vancouver or inner suburbs is an issue in this discussion.

Sad but true.

patriotz
Member

@31: “The DOW is 4.6% below its all time high”

All time high in CAD terms, by quite a bit.

It’s the Canadian stock market that’s been taking a big hit. No surprise after betting everything on oil, commodities and debt.

Made in Canada bust.