As long as our economy remains strong it shouldn’t be necessary to implement negative interest rates.
A link from southseacompany:
Bank of Canada: rates can go to -0.5 percent, but no need now
“The Bank of Canada estimated on Tuesday that it could if needed set its benchmark interest rate as low as minus 0.5 percent, but stressed that the economy was recovering as expected and it did not expect to use such unconventional monetary policy.”
“Vancouver realtor going to China to find luxury buyers”
Wow! Never heard that one before. Maybe he can find where Cam Good is buried.
How long until you can apply for a green card? Once you have a green card, wife can get one too I think, then work.
@YLTNboomerang: If you move from vancouver to Austin, make sure you pack a lot of sunscreen. There’s as much sun in Austin as there is rain in Van.
Do the move if the job looks interesting. As a canadian citizen, you can move back to hockeyland anytime you want. It’s not like an employer can hold you hostage or anything. The employer might not cover the complete loss of your wife salary, but it’s a good argument to negociate a nice paycheck.
Vancouver realtor going to China to find luxury buyers
http://bc.ctvnews.ca/vancouver-realtor-going-to-china-to-find-luxury-buyers-1.2693229
Austin is great. People friendly. Holding affordable. Lots to do recreationally. Good weather. I’d go in a heartbeat.
@44
Just run while you can and oportunity is at least decent. Nothing to lose here, cost of living will offset wife’s salary. Many good things about Austin, not a typical Texas.
Got offered a job in Austin yesterday, caveat is if we can agree on a salary. The negotiation point is loss of Canadian wife’s salary as she will not be able to work down South…do they want me bad enough to bump my salary to cover the loss of hers (understanding cost of living is lower in TX and taxes are lower)? My other issue is I’ve never been to Austin and have no idea what it is like…anyone ever visited there?
Just keep letting in the whole shitload of parents, grandparents and extended families as long as there are enough fools to foot the bill…
@41 – You obviously never went to UBC if you believe that math.
The 15-25% per year increase of property value in many area of Metro is the new normal.
The middle class should adjust to it, e.g. forget about $2 million dollar 3-bed room bungalow in West Side, you could buy a 3-bed room condo for $800,000 at the same location, if you can afford that.
38, that’s odd. If he was “trying” to sell, he’d have already sold if the price was right. By failing to see he must’ve priced unrealistically. Waiting for the market to catch up is certainly a ballsy move.
Just talked to my buddy that has been trying to sell his house. Because the prices are going through the roof, he has taken his listing off the market until the prices has stabilized. Hello 8000.
New
121
Sold
150
TI:8347
@Yunak – You should always be doing that – taping or voice recording on any serious discussions with landlord. Otherwise, it will just degenerate into a case of he said, she said. However, I don’t know how admissible is secrete taping done without the consent of the other party.
@squeak – Look into gold and diamonds…price in US dollars. Despite the epic drop in US$ of gold, the Cdn prices hasn’t dropped nearly as bad. So far, there isn’t much scrutnity yet on taking physical gold and diamonds out of the country like there is with financial assets transfers done through the banking channel.
For some Vancouver landlords not being able to speak English could be an advantage in the particular case.
Tenants in New York Press the Record Button in a Dispute With the Landlord
Hey Amy, It’s been a while since we’ve had a posting like yours. A few rambling thoughts of my own, if I may, as everyone is pitching you with their twisted point of view, I may as well too: Your teachers have failed you if they never taught you about winners and losers. This fact of life follows humanity throughout history with the rich and powerful always getting and staying ahead. The same teachers who always taught you to look at and point out the anger, vitriol and racism and nothing more did you a disservice. You should have been taught to look at all sides, even the ones you find repugnant. Some of the anger, vitriol and racism could have been prevented by allowing the ugly point of view to be taken seriously and examined fairly. (Can too much… Read more »
#13, Amy : I guess what is happening is a brain drain, why live in a dumpy apartment, earning a non competitive wage for the “right” to live in a coastal city? And true, what goes around comes around, watch what you wish for (as in voting). The saying was, when the last bear capitulate (buy) that is when the bubble bursts. I don’t care if the bubble burst or not at this point, I care about my finances more. Also, I am too entrenched into reality than to be brainwashed by house porn. Yes, nice designer house pics, I agree on that, but I still have to live in the real world. Moving the money offshore is looking more attractive each day. I worked for my money (blood sweat and aching bones- given up on tears, no time for… Read more »
BC Assessment sends out property assessment warning notices to 37K homeowners in GVRD:
http://www.cbc.ca/news/canada/british-columbia/vancouver-property-assessments-increase-1.3357024
Welcome to serfdom in US – for the renters that is:
http://www.zerohedge.com/news/2015-12-09/americas-road-serfdom-51-renters-are-over-40-years-old
@Amy
Agree 100% (sadly).
@13 – Amy
This is the new normal, and it has been for many years.
This is still prosperous society and people managing through, still tolerant, less racist and less violent, can buy food, clothes, shelter more or less. Those that not exactly fit in the picture (eastside) we keep isolated and not much visible. Just give it more time although “the situation” is already accelerating downhill. First comes disappointment, dissatisfaction, anger combined with envy, poverty, cold and hunger. People see kids suffering and then starts chaos. This isn’t new normal just transition period…
20, check yourself. The local government cannot force people to buy properties. People are doing that if their own free will, due to historically low interest rates, federal government incentives, and outright greed (adopting a single asset strategy because real estate “always goes up” and is perceived to be the easy way to riches). But of course homeowners do make up the majority of voters, so you’re not so wide of the mark.
@3 GreenSalad “Any drop in homeowner’s equity is called “stealing” but negative interest rates is called “unconventional policy” Exactly. There will be much palaver on this peculiar state of affairs by the chattering classes, but the Dick-and-Jane summing up is this: The banks’ revenues come by collecting interest from Joe Homeowner-with-a-Mortgage. The banks’ liabilities are paying interest to Jane Depositor. The interest rate spread between Joe and Jane is their profit. With mortgage rates still positive and interest on deposits going negative, banks get to collect money from both Joe and Jane. In principle, they could carry on making money when both go negative. Of course they will have to contend with pesky matters, such as mattresses. But simplified as it is, the above is the essence of banking, and accounts for most of economic policy and politics of the… Read more »