Friday Free-for-all April 1 2016

It’s that time of the week again, the start of another beautiful weekend in paradise.

And that means it’s 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:

Debt crisis?
The highest bidder
Hard times with a bungalow in Kits
Not in a housing bubble yet
The ones who don’t move here
Cash bonuses

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

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Oracle
Guest
Oracle

The renters of this province can do something. Divided we fall, together we win. Today we start. We get a Twitter handle and a website going.

We will back the candidates for the next election who support the following:

“Only Canadian citizens can buy residential real estate in BC”.

Simple. Don’t be naive and fall for “discussions”. If we can get 100 people to start and each can go and contact 100 others then we have something. Be careful not to solicit homeowners as they will play the race card or try to make you feel like it’s your own fault.

We can bring this ship down. I will start by contacting Chinese media in China how their elite are smuggling money out.

spaceAPE
Guest
spaceAPE

How do you imagine China’s most corrupt all end up in Canada and the US, and continue to prosper here with the blessings of both the conservatives and the liberals. Dirty money are welcome in the west. “Human rights” is as convenient as “racism” to shut you up.

tedeastside
Member
tedeastside

#VancouverIstay
the pro vancouver chest thumpers on twitter are screaming at the non-believer heathen’s who wont declare their undying love for vancouver.
some of the reasons they claim vancouver is the best best place on earth …get this!!!

……the vancouver art gallery.. .cherry blossoms and craft beer

you can’t make this shit up!

MASH
Member
MASH

Don’t knock the craft beer. The liquor restrictions surrounding it are fair game though.

ChinaOne Swallows Dicks
Guest
ChinaOne Swallows Dicks

I’d rather drink urine than the piss turned out by the local crapt brew industry.

david
Guest
david

Craft beer was a term used to describe the early days, by talented brewers who really put some and thought effort into their beer.
Here, it is a generic, offensive marketing slogan.

wwwww
Guest
wwwww
southseacompany
Member
southseacompany

“Canada’s Morneau not considering further measures to tackle housing market risks”, ForexLive

http://news.forexlive.com/!/canadas-morneau-not-considering-further-measures-to-tackle-housing-market-risks-20160401

“Canadian finance minister speaking in London:

– many countries see a growth challenge but vary in ability or willingness to use fiscal policy
– becoming less concerned about debt levels in Canadian provinces
– public investment decisions right regardless of CAD level
– oil price rebound would be positive for Canada and the globe”

elvince
Guest
elvince

I wonder what he means by “further”.

bullwhip29
Guest
bullwhip29

>>> Mr Loonie meet the central banker jawboners… given the supersized (and downright insurmountable) debt problem in Canada, the BoC will obviously do everything and anything in their power keep rates as low as possible for as long as they can. it is also no surprise that chatter of a recovery in the Cdn economy which has been accompanied by a rebound in the loonie has suddenly been dissed by the boys and girls in ottawa. the messages are clear….no cross border shopping for you! and a big welcome to all the intl tourists and RE speculators…please come in, take your jacket off and let me show you what is for sale today!
.

Business outlook ‘subdued’ amid diverging economic forces: BoC
http://www.theglobeandmail.com/report-on-business/economy/growth/business-outlook-subdued-amid-divided-economic-forces-boc/article29491667
.
Economy will take years to adjust to commodity-price decline: Bank of Canada
http://www.vancouversun.com/story_print.html?id=11818580

southseacompany
Member
southseacompany

“The coming great Canadian real estate collapse … maybe”, Financial Post

http://business.financialpost.com/midas-letter/the-coming-great-canadian-real-estate-collapse-maybe

“But all good things do come to an end, and it’s usually when the bandwagon is full of people proclaiming the perpetual nature of any particular flavour of bull market that its demise is nigh.”

Maria
Guest
Maria

Real estate scams need high-tech attention, say Vancouver and Canadian experts

http://www.theprovince.com/business/real-estate/real+estate+scams+need+high+tech+attention+vancouver/11821831/story.html

“Dan Zitting, chief product officer for Vancouver “big data” analytics firm ACL, is an expert on detecting patterns of crime in vast pools of data. In interviews, he explained his fears of widespread fraud in B.C.’s property market, and how Canadian agencies could start tackling it.

“Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of Fintrac’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”

BubbleTea
Guest
BubbleTea

Welcome all corrupt officials, money launders, international criminals…..
Vancouver looks at becoming ‘sanctuary city’
http://www.vancouversun.com/news/vancouver+looks+becoming+sanctuary+city/11821402/story.html

elvince
Guest
elvince

“refugees whose claims have been denied…”
In other words, not refugees at all…

You guys are so screwd.

Oracle
Guest
Oracle

SpaceAPE

Enough of the race card BS. I’m Asian and so are many others with views similar to mine. Plus I see these money inflows daily. Media has been told to black things out.

Canadian real estate for Canadian Citizens only,

p123
Guest
p123

Agree, I think most are angry cause they made the wrong decision as did I. If everyone here bought instead of hoping for the crash they would have been better off.

There’s a portion of the Asian community which isn’t good as with all races, but the amount of hate for Asians here is unreal. No matter how much complaining and whining isn’t going to change any policies or positions that the federal or provincial governments want.

Best to try to find a way to make up for the loss by finding ways to make more money or move, those are the only real options.

eastside
Guest
eastside

+1000

Negativity is a mindset.

Never understood the appeal or purpose for this blog. I have been peripherally interested in it for it’s ostensible real estate focus, but it is, ultimately a forum for people to boast about how completely and utterly they have failed to comprehend the Capital sea change that has taken place in Vancouver vs the disgruntled cohort that have been left behind.

I get, and am sympathetic to, the latter (though I can assure you that tilting at windmills and wishing ill upon others will not improve their lot). But I am completely baffled and frankly disappointed in the latter, who have clung to their ill-fated bearish postures against all evidence to the contrary. These people need to look in the mirror and stop fomenting fantasies.

bestplaceonearth
Guest
bestplaceonearth

p123 and eastside are about to get eaten and buried alive by a bunch of angry people, each equipped 3 university degrees and highly educated.

by the way, if you want to borrow some sugar, just knock on my trailer door. you don’t even have to pay me back. those sugar is from mcdonald and starbuck!

Locustomization
Guest
Locustomization

Chinese wisdom and sense of humor, eh…

1234
Guest
1234

@ eastside & p123

You’re both suffering from “recency bias”……and judging bears accordingly……”ill fated”?……we shall see….

p123
Guest
p123

I hope you’re right. This market has defied all logic and common sense for over a decade.

Brian Ripley
Guest

I have updated with March data my attempt at producing a table of rentals available in the big 6 Canadian cities via Craigslist, Kijiji, and Airbnb:
http://www.chpc.biz/6-canadian-metros.html#Rentals

I wonder if Airbnb “hosts” can net as much as landlords who rent out on an annual lease? Some of the “cleaning fees” make hotels look more attractive.

Best place on meth
Member
Best place on meth

Speaking of Airbnb, Vancouver city hall is getting closer to applying regulations to this illegal free-for-all.

https://ca.news.yahoo.com/vancouver-needs-bylaws-airbnb-crackdown-130800821.html

space889
Member
space889

But Uber is a ok? Since it saves Vancourites $$$?

Best place on meth
Member
Best place on meth

Couldn’t care less about Uber since taxis aren’t a necessity of life.

space889
Member
space889

So basically principle doesn’t matter unless it adversely affect me personally. Hmm…sounds a lot like another groups of people that people always complain about on this blog.

Hyper-mega-Bull
Member
Hyper-mega-Bull

is inventory ever going to go up?

paulb
Member
Active Member

New
242
Sold
155

TI:8065

http://www.paulboenisch.com

spaceAPE
Guest
spaceAPE

ORACLE .. ajar ajar ajar

4000 Indian millionaires left their motherland In 2015
9000 Chinese millionairea emigrated last year
10,000 millionaires left France last year_for the UK, US, Canada, Australia and Israel
http://www.vancitybuzz.com/2016/03/laduree-vancouver-open-photos/

space889
Member
space889

Oh no!!! France millionaires and their demand for French rights and services and their snobby attitude!

Pipi
Guest
Pipi
I have a question for you guys. I have three anecdotes recently told to me about people I know who put a bid on a house, sent a letter or family photos or some other sentimentality to the owner along with the bid, won the house and insist that they won it because of that personal connection that they made with the buyer. Now I don’t really buy any of that. I know that pretty much everyone is trying to get the highest dollar possible. (I’ve heard of so many people already worried that if they sell their place and try to downsize, they might not be able to afford to wait and rent in between the sale and the purchase, or even find anything to downsize to that they could still afford.) Sellers aren’t selling for charity. Now, in… Read more »
Combat roach
Guest
Combat roach

Victim’s syndrome, another last resort for desperate.

Pipi
Guest
Pipi

I just heard a fourth identical story this morning with more details: The couple were told how much the highest bid was, and then were told that if they submitted a bid 5k below the highest one and included pictures of themselves to show that they weren’t Chinese, then the sellers might sell to them instead to keep their house out of the hands of immigrants.

I feel like there’s pretty high odds that the “Chinese” bidder was a fabrication.

Piklishi
Guest
Piklishi

It’s true and I have done it. The higher bid by 30K won. Sometimes it works sometimes not. Nothing wrong trying it.

space889
Member
space889

Or maybe the house is in real need of some serious TLC and the sob story buyer had a no condition offer with quick close while the other bids didn’t?

teddy
Guest
teddy

http://www.theglobeandmail.com/life/home-and-garden/real-estate/vancouver-homeowners-cashing-out-for-smaller-markets-with-more-space/article29492020/

Something about this story isn’t right. It says they bought the house for 500k in 2009 and flipped for 1.48 million. what part of the city had houses for 500k in 2009.?

patriotz
Member

REBGV home price index for March 2009, which was the bottom of the market, was $593,100 for detached in Van East. The article gives the impression it was a fixer upper, so I don’t think it’s out of line that it sold for $500K.

http://www.rebgv.org/home-price-index?region=all&type=all&date=2009-03-01

teddy
Guest
teddy

Interesting first time I have seen these numbers. If they are true they show a complete correction in 2009 to 2004 levels. I find this hard to believe. I was already gone in 2009 but it seemed to me the downturn was short lived and soft in 2009.

teddy
Guest
teddy

should add or people puffed up how much their houses were worth and finally a decade later they are right.

patriotz
Member

The graph at the bottom of the page shows that Mar 2009 prices were about the same as in early 2007. 2004 prices were a good deal lower. The numbers don’t go back to 2004 but the home price index for Jan 2005 was $452,400 for Van East detached.

Piklishi
Guest
Piklishi

I almost bought a small house in North Burnaby for 510k in 2009. Decent house but 2bed 1 bath in a regular lot. Most likely it’s assessed at 1.2 right now.

Yunak
Member
Yunak

Wartime scene…

“The day our landlords came over to hand deliver our eviction-promise note, we had our next-door neighbours, who don’t speak English, over in our house for the first time. They had two kids of an age with ours. It was awkward, but everyone was smiling. It’s saddening to think in all likelihood that won’t happen again.”

http://m.huffpost.com/ca/entry/9566240

voter
Guest
voter

It’s amazing that the housing issue wasn’t brought up in the last prov .election. I bet it will in the next one . Goodbye Christy and Crew

BubbleTea
Guest
BubbleTea

Is China capital flight gate is closing?
Did China’s capital flight fears doom Anbang’s Starwood bid?
http://business.asiaone.com/news/did-chinas-capital-flight-fears-doom-anbangs-starwood-bid

Yunak
Member
Yunak

Headoffices, big businesses moving to Vancouver…

http://www.vancouversun.com/touch/story.html?id=11824155

teddy
Guest
teddy

Good thing there is a foreigner workers program to bring in qualified people who speak chinese to work at these firms.

bullwhip29
Guest
bullwhip29

next step is to completely hijack the Cdn banking system. then the cycle will be complete.

space889
Member
space889

No one is allowed to own more than 5% of any of the chartered schedule 1 banks. Intl payment system is run by SWIFT which is not Canada but based in Europe. And given that Cdn banks have to complied with US FACTA laws, our banking system have already been hijacked by US.

bullwhip29
Guest
bullwhip29

dont underestimate what the current PM may be willing to do

generally
Guest
generally
space889
Member
space889

Well, good thing car pile ups and death never happen on the 407…..

Oh wait, they do! Regularly!

southseacompany
Member
southseacompany

“Canadian House Prices 40% Too High For A Reason, The Economist Says”, Huffington Post

http://www.huffingtonpost.ca/2016/04/01/house-prices-canada-overvalued-globalization_n_9592900.html

“The Economist magazine has been saying for years that Canadian houses are overvalued. Its latest outlook offers the largest estimate yet: Houses in Canada, it says, are about 40 per cent too pricey, relative to “fair value,” or what people can afford”

Bestplaceonearth
Guest
Bestplaceonearth

Yep, they have said the same thing basically for so many years, and here we are…

mls watch
Guest
mls watch
patriotz
Member

And then they don’t answer the question. The article does not name a single buyer.

Best place on meth
Member
Best place on meth

They do answer the question.

The buyers are students, housewives, businessmen, numberered companies….the usual suspects.

franko
Member
franko

((( The article does not name a single buyer )))

How the fuck can it when our fed government doesn’t have the balls or the brains to track sales, and the provincial government profits from the situation.
Just how dumb does one need to be not to understand that the average price of $6.5 million is a tad out of reach for someone earning just over $135,000.

marble
Guest
marble
space889
Member
space889

So until 2013, Canada was the top locusts in US? Maybe that’s why some people here are so pissed at Chinese?

patriotz
Member

Title search. Anyone can get a copy of the title of any property for about $20 with the complete sales history, mortgages, etc.

Apparently you don’t know this and I suppose whoever wrote the article assumes the readers don’t. But I’m sure they know.

Tim
Guest
Tim

The trouble comes with numbered companies.

patriotz
Member

Well the buyers aren’t all numbered companies by a long shot. And you can do a search on a numbered company itself. That’s what you see in real journalism, rather than just repeating hearsay.

franko
Member
franko

The name on a title doesn’t mean diddly squat. Finding a local relative or partner in crime to provide a signature is no problem at all for some patriarch or crook from China.
I’m a retired builder, and had been involved in countless transactions that required lengthy negotiations only to have someone show up that I had never seen before when it was time to sign on the bottom line.

patriotz
Member

That isn’t the issue. The issue is that the “reporters” made no effort to obtain the name on the title in the first place. A real reporter would obtain the name and then investigate whether it was the real owner or just a proxy.

space889
Member
space889

Whoever’s name is on the title is the legal owner. You better have a lot of trust, or a lot of “persuasion” to have someone else legally own your property without worry.

Heck, even it is family, it’s doesn’t always work out….look at the case of Flo Z. dad.

marble
Guest
marble

And they are not locusts for sure. Wonder who are the real victims??

wwwww
Guest
wwwww

If you want to continue to live in this city you better learn to adapt.

Chinese etiquette tips for travelers (or Vancouverites)

One minute their exceedingly gracious Chinese host insists on walking them to the bus station…..and the next minute, a pushy stranger has elbowed them out of the way (without even offering a non-verbal “sorry”).

This might seem uncivilized or odd. It’s hard to understand the cultural roots of this behavior but part of it has to do with the Confucian worldview, which is deeply embedded in societal relations.

http://www.china-mike.com/china-travel-tips/chinese-etiquette-tips/

space889
Member
space889

Same thing on Japanese subways/train stations too….and Japanese is supposedly to be the most polite people on Earth! Well, except the times when they feeling like beheading people and such.

Null
Guest
Null

Do Chinese head back to the mother country during tomb sweeping day? I’m noticing less congestion on the roads especially Richmond.

Wwww
Guest
Wwww

Some Chinese are constipated today … This news may be interesting to some of you.

space889
Member
space889

Some Chinese also suffered diaherra this long weekend too….this is breaking news!! Reporters are waiting breathlessly to hear back from experts on whether this will cause house prices to shot up or down the toilet.

squeak
Member
squeak
““The Economist magazine has been saying for years that Canadian houses are overvalued. Its latest outlook offers the largest estimate yet: Houses in Canada, it says, are about 40 per cent too pricey, relative to “fair value,” or what people can afford” Fair enough: “what people can afford” : which people? Canadians? Of course they cannot afford this and the answer why they cannot is: They pay taxes, they play by the rules and they are law abiding and have moral standards. But these high level of standards does not seem to be recognized nor appreciated by their “chosen” (considering lack of any other decent choices) “leaders” (perhaps traitors is a more appropriate term). So, what are the choices for these hardworking, tax paying, law abiding Canadians? 1) If you cant beat ’em, join them = society will fall apart… Read more »
bestplaceonearth
Guest
bestplaceonearth

if you just quit being jealous to others and enjoy your life more, none of it would be matter. have you tried to get out and take a walk around OV and enjoy the beautiful weather?
dont be angry all the time. it’s costly to the health care system.

Tim
Guest
Tim

Favourite saying of nasty teenage girls to explain why people strongly dislike them : “They’re just jealous”

space889
Member
space889

I thought bears have stated that renting in Vancouver was awesome, cheap, and offers a really awesome lifestyle / standard of life?! Why the grip here? Renting is too good for bears now?

a-non-mouse
Guest
a-non-mouse

Yeah, why the grip everyone!

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