Swimming in debt and bursting with confidence

Low energy prices are a bit of a bummer for a country like Canada, but we’re not worried, we’ll always have real estate!

According to weekly polling by Nanos Research, the share of respondents expecting higher real estate prices reached the most since December 2014 last week, or 38.7 per cent. That pushed the Bloomberg Nanos Consumer Confidence Index to 54.7 last week, the highest this year, from 54.5 previously.

“The main positive driver for the forward look on the economy was the view that the value of real estate would increase,” said Nik Nanos, chairman at Ottawa-based Nanos Research Group.

The only potential downside is that young Canadian families are ‘swimming in debt.  Read the full article over at the Financial Post.

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[…] to housing surge –Hyper-mega-bull called it –middle class housing projects –Fintrac fine for Canadian bank […]

Hyper-mega-Bull
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Hyper-mega-Bull

‘Canada is only a big Caribbean country:’ Response from Sinophile

On balance, {I think it’s} overwhelmingly positive from an economic, social and human exchange perspective.

http://vancouversun.com/news/staff-blogs/canada-is-only-a-big-caribbean-country-response-from-another-china-expert

Combat roach
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Combat roach

And looks like our PM Zoolander is thoroughly comfortable with it.

Hyper-mega-Bull
Member
Hyper-mega-Bull

traffic was heavier today. i notice a lot more bad drivers and queue jumpers today. is it because people are returning from tomb sweeping day?

has vancouver become so chinese that holidays we’ve never heard of like tomb sweeping day have an impact on the city?

Combat roach
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Combat roach
bullwhip29
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bullwhip29

WSJ: Subprime-Housing Risks Raise Red Flags in China
tinyurl.com/govsv2p

bullwhip29
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bullwhip29
bullwhip29
Guest
bullwhip29

Alibaba Overtakes Walmart As Largest Retailer By Gross Volume
http://www.ibtimes.com/alibaba-baba-overtakes-walmart-wmt-largest-retailer-gross-volume-2349025

>>> from nothing to world’s largest retail ponzi scheme in under 20 yrs; golf claps all around…

southseacompany
Member
southseacompany

“Condo investors in Canada’s hottest markets snapping up multiple units”, Globe & Mail

http://www.theglobeandmail.com/real-estate/the-market/condo-investors-in-canadas-hottest-markets-snapping-up-multiple-units/article29527076/

“A rising share of condo investors in Canada’s hottest housing markets are snapping up multiple units in hopes of capitalizing on rising prices and lucrative rental income.”

bullwhip29
Guest
bullwhip29

Latest CMHC Report Shows Condominium Investors Are in It for the Long Haul
http://www.cmhc-schl.gc.ca/odpub/esub/68560/68560_2016_A01.pdf?fr=1459955052889&sid=elJ1eEsHW2c5wZKUt4GxccGHToQmSkPbIXbM5xAFR7baE1QPpdfBFQGvb5n2hlW2

>>> 42,681 households were surveyed in Toronto and Vancouver; 23.5 per cent own
at least one secondary condominium in addition to their primary residence while 10 per cent have three or more secondary units; survey does not cover Canadian and foreign households who own condominium units in Toronto or Vancouver, but do not reside in these cities, and corporate investors

bullwhip29
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bullwhip29

Vancouver linked to Panamanian company at centre of global furor
http://vancouversun.com/business/local-business/vancouver-linked-to-panamanian-company-at-centre-of-global-furor

>>> does this come as a surprise to anyone?

bullwhip29
Guest
bullwhip29
probably true
Guest
probably true

I am fast getting the impression after the Panama documents and the recent fine by Fintrac that…

PRIVATE BANKER = Money Launderer

realist
Member
realist

Some version of this to come to Vancouver? Profit from RE is private, but taxpayers to subsidize housing for the middle class:

New Yorker, Mar 31 2016 “Welcome to the Future: Middle-Class Housing Projects”
http://www.newyorker.com/culture/cultural-comment/welcome-to-the-future-middle-class-housing-projects

“Palo Alto City Council had moved to explore subsidized housing for families earning between a hundred and fifty thousand and two hundred and fifty thousand dollars a year.”

paulb
Member

New
360
Sold
217

TI:8521

http://www.paulboenisch.com

Combat roach
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Combat roach

Another day, another motherfucker teaches a lesson and scolds around. How even those bastards get space in MSM to spread their bullshit unless it gets paid by RE cartel?

http://www.theglobeandmail.com/opinion/its-too-easy-to-blame-outsiders-for-vancouvers-housing-woes/article29514052/

Best place on meth
Member
Best place on meth

Everyone in the comments section saw right through this mainland piece of shit

For some reason they still think they can brainwash westerners they way they do their own people – the stupidity and arrogance of these locusts is beyond comprehension.

patriotz
Member

The reality is that demand for single-family housing in Metro Vancouver exceeds supply.

The reality is that supply equals demand at the market price, for anything, by definition.

This illiterate also doesn’t understand that supply and demand for housing (that is to sell and buy respectively) don’t correlate well with the total amount of housing and the total amount of households, only a small number of which are active in the market at any time.

In fact periods of rising prices are more likely to see growth in housing stock exceed growth in households, and periods of falling prices are more likely to see growth in housing stock lag growth in households. That’s why bubbles so often end with empty houses.

Combat roach
Guest
Combat roach

It’s even getting worse…

“Yuen Pau Woo is president of HQ Vancouver, a public-private partnership that promotes British Columbia as a location for head offices.”

Look at ‘HQ Vancouver’ website. You just can’t make this up!!!’HQ’ gets $millions and $millions from the hardworking BC/Canadian taxpayer per Year!! It’s funded by the Federal/BC Government!!! Mr Woo is essentially a taxpayer-funded civil servant.
Canadians are so gullible that they’re funding their own displacement and demise. Canadians are such losers”

We are fucked while bastards and lowlifes laugh at us…

space889
Member
space889

Because having headquarters in Vancouver destroy jobs & tax base? Maybe we should get rid of all HQ in Vancouver, that way the economy would just skyrocket! Move all those damn HQ to Calgary!

Nom Nom Nom
Guest
Nom Nom Nom
From the comment section of the article – “Let Me Tell You” “Yuen Pau Woo is president of HQ Vancouver, a public-private partnership that promotes British Columbia as a location for head offices.” Look at ‘HQ Vancouver’ website. You just can’t make this up!!!’HQ’ gets $millions and $millions from the hardworking BC/Canadian taxpayer per Year!! It’s funded by the Federal/BC Government!!! Mr Woo is essentially a taxpayer funded civil servant. The website gloats and promotes how BC is a tax haven, low corporate tax, free health care, discounted housing, free education, essentially a back door to set up your business for access to the US market. They’re cracking their ribs laughing at you Canadians! So let me get this straight. These wealthy offshore elite who set up some kind of “office” in Vancouver will continue to live offshore be considered… Read more »
bullwhip29
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bullwhip29

Bank of Canada still bullish on China despite economic slowdown
http://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-still-bullish-on-china-despite-angst-about-slowdown/article29529596

>>> as they should be. if china goes raisins up, it is game over for the housing mkt and the cdn economy as a whole

patriotz
Member

China accounts for about 7% of Canadian exports. The US accounts for about 70%.

I agree a China meltdown would hit BC and the rest of the West pretty hard, but that’s not the whole country by a long shot.

bullwhip29
Guest
bullwhip29

if china hits the skids for real, then 2008 will look like a cake walk. not chance in hell the average cdn is prepared for a prolonged global financial crisis or meaningful haircut in valuations to assets they own (primarily RE and equities).

bullwhip29
Guest
bullwhip29

Canadian bank fined $1.1-million for failing to report suspicious dealing
http://www.theglobeandmail.com/report-on-business/canadian-bank-fined-11-million-for-failing-to-report-suspicious-dealing/article29533055

>>> however, in an effort to maintain anonymity of “suspicious” client and allow “unnamed” bank to save face (and likely continue on business as usual), no details were disclosed to public

victoria
Member
victoria

My husband works in foreign exchange. This happens all the time. It is cheaper for the banks to just pay the fees if they get caught. If a smaller company were to do this they would be shut down or wiped out. The banks make so much money on these deals and paying a million in fees is nothing.

space889
Member
space889

So basically cost of doing biz illegally, and a very cheap cost at that….but it’s all HAM right?

victoria
Member
victoria

See my above post. This happens all the time. In fact a compliance expert – ex RCMP – accounting forensics is writing a book about this and money laundering in Canada.

OPENHOUSEMASSACRE
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OPENHOUSEMASSACRE
Best place on meth
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Best place on meth

Dogs are man’s best friend, not locust’s best friend.

space889
Member
space889

In a few month, the annual summer holy cow slaughtering and BBQ meat eating festival starts in North America, with Calgary Stampede leading the Canadian season to boot. I don’t see a lot of Indians bitching and crying and protesting about this barbaric slaughter of their most sacred animal.

Nor do I see Muslims up in arms about the eating of pork everywhere in Canada.

voter
Guest
voter

Good point ,why don’t you take some of that equity out of your house and open up a hot dog stand .I bet that’ll go over great.

Combat roach
Guest
Combat roach

Preferably in Richmond, please?

bullwhip29
Guest
bullwhip29
Shut It Down Already
Guest
Shut It Down Already

How’s the seal cull looking this year? Plenty of icepicks being landed in the heads of innocent seal pups, I hope?

franko
Member
franko

“TRUDEAU COURTS CHINA”
Not exactly what I wanted to read with my morning coffee.
He must be taking pointers from Christy.
http://www.pressreader.com/Canada/the-Vancouver-sun/20160405/282467118040881/textview

space889
Member
space889

Because US is waiting to pay top $$$ for our dirty oil?

Yunak
Member
Yunak

It’s going to be a party when/if Trump wins and Canada has to chose a dancing partner.

Hyper-mega-Bull
Member
Hyper-mega-Bull

panama papers will result in more HAM flooding into vancouver. prices are going to go up a lot more before they go down.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Home sales hit record 5,000 in March in Vancouver area

Meanwhile, the benchmark price for all home types across the region currently sits at $815,000, up 23.2 per cent from a year ago. Detached homes now have a benchmark price of $1.34 million or a whopping $3.07 million on the west side of Vancouver. The benchmark price for a condo was $462,800 in March, compared to $589,100 for attached homes like townhouses.

http://www.vancouversun.com/business/home+sales+record+march+vancouver+area/11828954/story.html

spring hasn’t sprung, it’s blasted off.

https://angelamooreblog.files.wordpress.com/2013/05/blast_off.jpg

space889
Member
space889

What the bears used to say? The higher it goes up, the bigger the fall?? So they should be cheering for higher prices since it implies a bigger harder fall, and more bloodied & crumped bodies of home owners, who obviously deserves every punishment and suffering the housing crashing deals out to them.

Hyper-mega-Bull
Member
Hyper-mega-Bull
Yunak
Member
Yunak

Are there any local events or happenings across the Lover Mainland in honor of the festival organized by BC libs and city’s Vison?

space889
Member
space889

I don’t know but you people eat holy animal like there is no tomorrow here and I don’t see a lot of Indians protesting against the barbaric practice. Ever seen pictures of a slaughter house? Or even those farm slaughtered organic cows? Pretty damn graphic too.

Come to think of it, I don’t see Muslims up in arms about people here eating pork either, which is totally against their religion.

Oh wait, I forgot…you guys are the epitome of evolution, and whatever you feel like eating is A-OK and righteous by the will of GOD.

Hmm…GOD spelled backwards….

OPENHOUSEMASSACRE
Guest
OPENHOUSEMASSACRE

IT WOULDN’T SUPRISE ME ,MAY BE CHRSITY AND GREG WILL GET TOGETHER TO PASS A BILL THAT WILL MAKE EATING DOG AND CATS LEGAL

patriotz
Member

It is legal. It’s only illegal to eat endangered species.

Some time back, there was a story in the news about a family in a basement suite who were spotted BBQ’ing a dog. Neighbours called the cops who arrived and explained that the people weren’t breaking the law. They were Vietnamese who are more fond of eating dogs than the Chinese actually.

space889
Member
space889

And Koreans, they are also very fond of eating dogs.

Best place on meth
Member
Best place on meth

How fond are they of tiger dick?

Are they as stupid and worthless as your people when it comes to killing rare animals for “medicine”?

southseacompany
Member
southseacompany

“Boomer-aged investors are dangerously overexposed on real estate”, Canadian Business magazine

http://www.canadianbusiness.com/investing/boomer-aged-investors-are-dangerously-overexposed-on-real-estate/

“Investment adviser Hilliard MacBeth believes we’re in a housing bubble, and, worse, that it means many investors are under-diversified”

“MacBeth, the author of When the Bubble Bursts: Surviving the Canadian Real Estate Crash, expects residential values to ultimately fall back 40% to 50% from their peaks. “

bullwhip29
Guest
bullwhip29

Vancouver councillor eyes tighter rules for Airbnb and similar ventures
http://vancouversun.com/news/local-news/rental-housing-is-for-residents-says-vancouver-councillor-eyeing-airbnb-rules

>>> good luck with this. homeowners will scream bloody murder if such restrictions were ever implemented as overall revenues (regardless of source) would certainly take a hit. who are they to say how a homeowner may or may not operate a revenue property especially now given what we’ve witnessed with various other revenue generating options that have literally flown under the radar for decades? perhaps this conversation is all about the city making an attempt to look good while at the same time laying the ground work for a potential cash grab for themselves via an airbnb licence fee. or is airbnb potentially being viewed in the same light as uber (with the hotel industry naturally being not to pleased with how things have progressed to date)???

Newcomer
Member
Newcomer

You mean “figuratively,” not “literally,” which means the opposite.

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

BC rules out banning corporate and union donations
http://www.vancouversun.com/news/politics/rules+banning+corporate+union+donations/11829756/story.html

>>> as if they would ever actually consider such a measure…

space889
Member
space889

If BC Lib feels they can ban union donations without banning corporate donation at the same time then yes, they would totally do it.

bullwhip29
Guest
bullwhip29
Best place on meth
Member
Best place on meth

If you lie down with dogs, you get up with fleas.

space889
Member
space889

And if you stuck your head in your ass in a moldy basement?? No, don’t tell us BPOM, we don’t want to know…just stay far far away, preferably don’t come out of the moldy basement.

Best place on meth
Member
Best place on meth

Whoever it was that said chinese were smart was obviously chinese.

Combat roach
Guest
Combat roach

They are smart as long as they don’t say or do anything, just meditate and do tai chi or whatever that crap is.

Best place on meth
Member
Best place on meth

Memorizing and copying is their idea of smart.

No wonder they haven’t invented anything useful in 500 years.

Combat roach
Guest
Combat roach

Sympathy for the devil…

southseacompany
Member
southseacompany

“Oversupply threatens to burst housing bubble—observer”, Mortgage Broker News.ca

http://www.mortgagebrokernews.ca/news/oversupply-threatens-to-burst-housing-bubbleobserver-205264.aspx

“While the red-hot Canadian real estate industry has continually defied pessimists’ dire predictions for years now, a long-time observer is sounding the alarm on oversupply and other factors that might cause the sector to come crashing down”

“In a breakdown piece for the Financial Post, investor James West—who has covered Canada’s publicly traded and private companies for over three decades now—cautioned industry players to take notice of the very real danger posed by the 10 per cent vacancy rate in Toronto and Vancouver.”

space889
Member
space889

what oversupply? Toronto has an even tighter supply than Vancouver. Any new condo projects is basically back to pre-sale line up and sell out in first week like the go go days of early 2000 now. Any SFH are swarmed by buyers offering over asking, regardless of what kind of crap condition it is in.

Zero Down Forty
Guest
Zero Down Forty

The article is referring to the number of homes built, not what’s for sale on the market at the moment. According to Metro Van stats, between 2001-2011 the number of dwelling units increased by around 170k, the number of households by about 135k. Don’t have the link but it’s been posted here before.

Home building has been outpacing household growth, which typical of a speculative boom.