Friday Free-for-all!

It’s that time of the week again, time for another Friday Free-for-all!

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:

Destroying Vancouver?
How to gloat gracefully
Define ‘bubble’
Zero down again please
CAD down the drain
Housing and oil, that enough?

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

Sort by:   newest | oldest | most voted
ostritch
Member
ostritch

Too late for anyone here. All lots now are bought up by savvy developers anyway, be they professional or amateur:

http://www.stubell.com/Blog.php/ambleside-rancher-sells-for-890-000-over-asking-with-27-offers

Taxi renter
Guest
Taxi renter
Fellow people, You have been priced out. Even with a 50% crash you are priced out. We are all doing it the wrong way. My landlord owns a taxi medallion on the North shore and paid $20,000 to buy it in the open market years ago. This medallion gives him the right to operate his own taxi 24 hrs a day. He says it is worth $350,000 for a half share (12hr) and $700,000 total. He rents out his taxi to new immigrants for half the day. He will only accept cash for this. For most of his shift, he accepts cash only. Apparently he declared only $13,000 in earning for last year. His wife works in part time in healthcare so gets Some pay. They have 2 kids and get close to $800 a month for them. The live… Read more »
midnite toker
Member
midnite toker

Lol, the taxi cartel is a whole another story. They’re so desperate to keep out uber. Any competition really, it is almost impossible to get a cab downtown on a weekend.

patriotz
Member
vangrl
Member
vangrl

Lots of price reductions on West Side detached in the 4-14 million range, and tonnes that have been listed since at least last August.

Realtors feedback is that sellers had unrealistically high prices, but last spring/summer it was hard to find any reductions, regardless of how unrealistic the pricing was.

One Realtor said “good observation”, meaning that he obviously is aware, but that Chinese New Year will be a telling sign, and that he’ll know more around Feb 15th.

High end detached, but that’s where all the madness started, trickling impact works both ways.

patriotz
Member
patriotz
Member
@49: “Yeah it sucks our money and gives us back iPhones. It then sucks our houses and gives us back money to buy more iPhones.” Like China invented any of the technology that went into iPhones? Any bit at all? China has been able to corner the manufacturing for this kind of device and many other consumer goods because of its suppression of labour rights, zero environmental standards, and manipulated currency. And yes, because Western corporations wanted to take advantage of this. If the only choice for most consumer goods today is between Made in China and luxury, of course most people are going to buy Made in China, because they can’t afford luxury. If China did not exist or we had no trade with them, the iPhone would just be made somewhere else – as were the first cell… Read more »
space889
Member
space889

@VanDweller – Don’t bother trying to reason with morons who don’t even know they are morons. I find interesting that morons bashing China thinking they are so smart and morally superior and knows everything when they know absolutely squat about China. All the while typing and using made in China products while bitching about lousy quality as if they have no choice in buying them and that large multi-national companies are powerless to refuse accepting crap from their Chinese factories and suppliers.

space889
Member
space889
VanDweller
Member
VanDweller
[start rant] China sucks? Yeah it sucks our money and gives us back iPhones. It then sucks our houses and gives us back money to buy more iPhones. Every snowflake in an avalanche is innocent. As I mentioned before – try living for a month without using “Made in China” products. It’s much easier to scream “China sucks” than do that. Why is it so hard to see that we are part of the “Chinese problem”? That we want our cake and eat it too. What I hate about the “bash China” attitude is that it lacks the appreciation for how deep the rabbit hole goes. Guess who is behind the rise of China as a manufacturing super power? Our collective greed is. Maybe the “China bashing team” actually does know all this and are keeping up the act as… Read more »
I'm with Stupid ^
Guest
I'm with Stupid ^

@ 47
What the hell are you talking about?

Roger Dodger
Guest
Roger Dodger

Not content with spreading their polluting filth on the earth, China now wants to spread their garbage into space and onto the moon. Maybe they are looking for real estate investment opportunities on the moon?

http://newsdaily.com/2016/01/china-to-land-probe-on-dark-side-of-moon-in-2018-xinhua/

Hçistory
Guest
Hçistory

http://moneyweek.com/if-these-guys-are-right-the-sp-500-could-fall-below-its-2008-low/

whoa, Albert Edwards of SocGen is calling for -5% interest rates…

thats brutal, brutal deflation

and Russell Napier is calling for cascading Sovereign debt defaults… yikes

“Emerging markets are at risk of going bust as capital flees their shores. They’ve got too much dollar-denominated debt. Given the choice between servicing this or protecting the best interests of their populations by defaulting on it, there’s no contest.”

this shouldnt surprise anyone here. American QE in its various incarnations gave The Global bulls huge confidence to leverage RE in developed economy’s like Canada… now those dollars are getting ever more harder to pay back without Bullshiet Helicopter money… the money which is at the root of many of our social injustices.

franko
Member
franko

@38
” shocked to see PaulB getting the downvotes ”

Just another Locust conspiracy.

UBC in crisis
Guest
UBC in crisis

Sold on 13/Jan/2015
$4,420,000

Now sold again for $4,999,999.
3315 W. 38th Ave. Vancouver Dunbar

Best place on meth
Member
Best place on meth

@36

Holy shit, how is it even possible that Krusty the Krook is not in jail?

What a corrupt piece of excrement.

david
Guest
david

Here are three U.S. towns that likely feel at least some bit of sympathy for we insufferably smug Canucks and our economic comeuppance:

Bellingham WA, Plattsburgh NY, and Calais ME

david
Guest
david

69 cents! Canada is BACK!

I remain confident that the 6 won’t even hold this time.

So let’s keep buying those shoeboxes in the sky, folks! It’s all we got!

DG
Guest
DG
crabman
Guest
crabman

@38 – The down votes are coming from our resident China-loving troll.

ILoveCharts
Guest
ILoveCharts

Whoa – I haven’t been coming around much these days but I am shocked to see PaulB getting the downvotes. He has always provided this board with great info that can be hard to find elsewhere. Get it together people.

I'm with Stupid ^
Guest
I'm with Stupid ^

@32 cmon lets not pretend we are actually skipping reading the downvoted comments here.

Theres no batman without the joker lol.

Yunak
Member
Yunak

In the best tradition of politburo, even Mao would be proud…

http://www.huffingtonpost.ca/sarah-miller2/christy-clark-scandal_b_8984182.html

Best place on meth
Member
Best place on meth

@33

“China sucks!”

I second that!

Ulsterman
Member

It’s a strange old world. i discovered today that my old prep school in Belfast, Northern Ireland is for sale and it’s selling for less than the price of my POS tear down rental in Burnaby. The school is a Grade 2 listed (historic) stone building, sitting on 2.1 acres of wooded gardens in one of the finest Belfast neighbourhoods.

It is likely to be turned into a nursing home or a hotel, but there is planning permission in place for it to be converted into 12 apartments. And all for £675,000 asking. My wife is ready to move!

http://www.belfasttelegraph.co.uk/news/historic-cabin-hill-school-goes-on-market-at-675000-34153537.html

crabman
Guest
crabman

China sucks!