Resolve to make 2016 the year of the Emergency Fund.

What’s in your emergency fund? Do you have cash on hand to get your through unexpected lean times?

Rob Carrick over at the Globe and Mail think’s it’s time to focus on building your emergency fund in 2016.

Now seems an opportune time to return to the emergency fund theme. The Bank of Canada indicated last week that it would consider using negative interest rates, an extraordinary measure already in use in some European countries, if the economy worsens significantly. Governor Stephen Poloz believes the makings of a recovery are in place, and he doesn’t expect to have to resort to negative rates. And yet, oil prices last week hit their lowest point in six years.

I took a look at our household emergency fund recently and decided we needed to up our game. How about you?

Definition of an emergency fund: Money sitting in a high-interest savings account at a bank or credit union. These accounts are insulated from the ups and downs of the stock and bond markets, and easily accessible online. Interest rates are pitiful on these accounts, but the emphasis is on safety over returns.

Read the full article here.

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ted
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ted
Oracle
Guest
Oracle

Patriotz is a gov propaganda shill.

He works for Canada’s Immigration Department.

w
Guest
w

My favorite thing about the holidays is the year end recaps!

Chinese tourists behaving badly, peeing in public, fighting Japanese (compilation 2015)

https://www.youtube.com/watch?v=lRJOYOaz45c

Shut It Down Already
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Shut It Down Already

99, you’re right – the Great Financial Crisis was triggered by low Vancouver RE inventory.

w
Guest
w

China Beige Book Shows ‘Disturbing’ Economic Deterioration

http://www.bloomberg.com/news/articles/2015-12-17/china-beige-book-shows-disturbing-deterioration-on-all-fronts-iiaunzjp

The worse things in China become the more eager money is to escape. Many people on this blog said that this is exactly what would happen if China imploded. Many others were in denial.

w
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w

Hey patriotz, do you still think HAM is a myth? Only a factor in the high end market right I think you used to say.

Oracle
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Oracle

Yes. I agree that Vancouver detached homes have much higher to go.

Take the Chinese exchange rate.

8 Yuans bought 1 dollar in Nov 2007

Now: 4.6 Yuans buys 1 dollar.

Seems like the Canadian gov sold out Canadians. Incredible. Basically almost a doubling of currency. Couple that with the most generous immigration system in the world and there you have it. The reality that is Vancouver.

Blame lies with locals who let it happen and the sheep that continue to take it.

12
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12
A comment from Garth’s Blog Post. This seems like the most likely scenario. I also don’t expect Vancouver Home prices to go down any time soon. It’s defied logic so far. =============================================================== I’m a Vancouver realtor with a large national Real estate company – 20+ years in the business. We had our year end meeting this morning. Of course a topic that was brought up was Ottawa’s new down payment rules. The overwhelming opinion is that it will barely have an effect on lower mainland sales, especially among single family homes. If anything, it appears that a couple of month pop may occur from minimum down payment buyers trying to sneak in before the change. It may impact lower priced markets already weakened like Calgary, but still not significantly. Obviously the US rate increase was another topic. Again, it won’t… Read more »
say whaaaa?
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say whaaaa?
southseacompany
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southseacompany

“Ask O’Leary: Why Kevin O’Leary says real estate is one of the worst investments”, BNN video

http://www.bnn.ca/News/2015/12/11/Ask-OLeary-Why-Kevin-OLeary-says-youd-be-an-idiot-to-buy-a-house.aspx

“Kevin O’Leary, chairman, O’Leary Financial Group says buying a home in Canada is one of the worst investments you can make. ““I’m completely against purchasing a house because I don’t think five years from now it will be worth a dime more than it is today,” he told BNN.”

““In my world, and this is a personal opinion, the chance that you’re going to get 12 percent appreciation in a home over the next five years is zero. So you’d be an idiot to buy a house.””

“He says renting a home rather than buying is the way to go and Canadians, especially those in their 20s and 30s, are better off taking their 10 or 20 percent down payment, and buying stocks or bonds”

patriotz
Member

@84: ” capital flight into real estate is a real world wide phenomenon. ”

When then are there such massive discrepancies in price/rent and price/income among developed countries?

http://www.economist.com/blogs/dailychart/2011/11/global-house-prices

Shut It Down Already
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Shut It Down Already

Ted, you live in Vancouver.

Best place on meth
Member
Best place on meth

@90

The only time on those charts that even comes close to the current low inventory was December, 2007.

But…didn’t real estate crash 6 months later?

ostritch
Member
ostritch
You can take the free outta healthcare pretty soon. I have family members who are GPs in Ontario. They are old school GPs.. Will work until they drop. No one wants to do full time GP work anymore. The waits for specialists in ONT are insane. One of them went into their hospital for surgery and waited 18 hours for bedding to come. And that’s knowing the nursing staff who apologized profusely but had so much other more urgent care to attend to first. Kathleen Wynn also spent down all of this fiscal year’s budget for GPs. They won’t be paid for six to eight weeks of seeing their patients. Plus they’ve had their salary cut twice in five years. Plus the Syrian Refugees have just arrived. Now no one cries for doctors but then again no one can force… Read more »
tedeastside
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tedeastside

2 degrees and rain in vancouver. who wouldnt want to be there !!

today in SoCal
http://www.best-beaches.com/images/venice-beach/venice-beach-pictures.jpg

Bull! Bull! Bull!
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Bull! Bull! Bull!

@96

>nless you’re a hardworking student in a developing nation whose parents have the nouse to get you into the West somehow

that started to die in the 80s. now people make their money before they come to canada. no opportunities here. just clean air and free healthcare.

ostritch
Member
ostritch

Bull you do make me laugh. But I tend to agree. The next generation has it very very though. Unless you’re a hardworking student in a developing nation whose parents have the nouse to get you into the West somehow. Then it’s the very best of times and you’re about to make a gargantuan leap for your family. Is that wrong? Or is that somehow even more right?

ostritch
Member
ostritch

Looks like the endless importation of cheap foreign labour is not just contained to Canada:

http://freebeacon.com/politics/congress-provides-1-6b-to-resettle-illegal-immigrants-arriving-at-border-through-2018/

So piecing together the future, maybe the idea is to “compete” with developing world labour costs by lowering the cost of labour here this way. We know the unions and regular Joe Canadians wouldn’t want to work for slave wages and I can’t say I blame them. Those in power have found a way around it and discovered a grateful population of workers. Many of whom should try to overstay their visas. I would.

Now add to that global super cities and ugh it all makes sense.

boom
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boom

cool link
http://www.tradingeconomics.com/country-list/housing-starts

kanada builds more houses than the rest of the world combined, god save my kanada!

Oracle
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Oracle

Just as I predicted. Rents will skyrocket. Houses with basement suites are the best investment.

Only way to stop madness is to end immigration. But the sheep have been brainwashed to be PC.

They can’t even see their folly when someone posts it on the Internet. Haha

space889
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space889

@BBB – Let’s not be so extremely and frankly Mars colonization is still probably decades away. However, I think there are lots of free land still in NWT and Nanuvat just waiting for people to settle. 🙂

Probably be a good place for team BPOM here…..

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

canada is done. maybe there will be opportunities for your children on mars.

ostritch
Member
ostritch

Just found B5baxters charts. Thanks. Looks like we are very low indeed.

http://vancouverpeak.com/showthread.php?tid=48

Bull! Bull! Bull!
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Bull! Bull! Bull!
elvince
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elvince

If we had listened to developers and real estate agents, we would have bought rental condos and we’d been bleeding money for the last 5 years while the condo price hasn’t increased by a dime.

Developpers and most agents have been even more wrong than anyone on this board, bear or bull.