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Friday Free-for-all! May 26th 2016

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260 Comments

It’s the end of another work week and you know what that means…

It’s Friday free-for-all time here at VCI. 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:

–Housing market concerns at BOC
–Broker Economist on concerns
–Vancouver ‘freakshow’ market
–Peterborough up 24% YOY
–Save for 23 years
–4 out of 10 caught short on money
–lack of compliance on money laundering
–high cost of ultra-low rates

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

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bullwhip29

surely coming to richmond soon…

https://www.youtube.com/watch?v=YZiEecvn07o
https://i.ytimg.com/vi/YZiEecvn07o/maxresdefault.jpg

perhaps specially designated VIP stalls and valet parking for super cars, high end brands etc at your local strip mall or big box store in the not too distant future

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bullwhip29

Hong Kong April retail sales fall for 14th straight month
http://www.reuters.com/article/hongkong-economy-retail-idUSL4N18R2Z9

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bullwhip29

also wasnt aware of this (the money is small time stuff though…)

BC – China Award for Excellence in Chinese
http://www2.gov.bc.ca/gov/content/education-training/k-12/support/bc-china-award-for-excellence

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bullwhip29

Christy Clark downplays real estate ties to her latest Asia trade junket
https://www.biv.com/article/2016/5/christy-clark-downplays-real-estate-ties-her-lates/

https://www.biv.com/media/filer_public_thumbnails/filer_public/c5/45/c5453afe-fc6a-45d6-9c44-9fed8eba43fd/christy_clark_at_jollibee_in_manila_credit_bc_govt.png__0x400_q95_autocrop_crop-smart_subsampling-2_upscale.jpg

>>>if anything raises any red flags, it is the onslaught of articles, press releases, news clips and other media coverage defending her actions

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bullwhip29

and what’s this all about?

mercedeswong.com/nu-stream-realty-inc
vs
http://tinyurl.com/j6n7gaz

and there is no agent named Tennyson Wong working for Sutton

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Best place on meth

“She acknowledges one of the trickiest challenges is what some see as the elephant in the room in Vancouver’s rapidly expanding real estate industry. Many new realtors conduct all their business in Mandarin, which creates language barriers. Ms. Rogers points out that people from other countries also bring new business models, which sometimes clash with Canadian rules and expectations.”

It should surprise no one that in China lying, cheating and stealing is a business model.

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bullwhip29

Desperate homebuyers get creative as home listings plunge
http://www.ctvnews.ca/business/desperate-homebuyers-get-creative-as-home-listings-plunge-1.2926342

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bullwhip29

Peterson sells downtown tower; transit factors into other deals
https://www.biv.com/article/2016/5/peterson-sells-downtown-tower-transit-factors-othe/

http://petersonbc.com/sites/default/files/styles/property_node_image/public/exterior.jpg?

“The purchaser and price remain undisclosed, but industry sources indicate the buyer is the same Chinese investor rumoured to have purchased the property last September. “

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bullwhip29

May 31, 2016 B.C. regulator feels heat to curb real estate misconduct By KATHY TOMLINSON http://www.theglobeandmail.com/news/national/bc-regulator-feels-heat-to-curb-real-estate-misconduct/article30227796/ Stories about shady practices, burned buyers and sellers leaves top bureaucrat convinced regulatory system in need of major overhaul that would include tougher penalties She’s the top bureaucrat overseeing the real estate sector in B.C. Still, Carolyn Rogers admits she did not realize how wildly speculative Vancouver’s market had become until an explosion of public outrage earlier this year. Ms. Rogers is B.C.’s superintendent of real estate, a job she has held since 2010. Now, she sees houses trading like hot commodities – and it worries her. Ms. Rogers says hearing how buyers and sellers have been burned keeps her up at night. “What we have in Vancouver is absolutely extraordinary circumstances. The regulations for real estate … I don’t think contemplated the idea… Read more »

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bullwhip29

Outspoken realtor questions why he was removed from Greater Vancouver Real Estate Board
http://www.news1130.com/2016/05/31/realtor-greater-vancouver-real-estate-board-removed/

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southseacompany

“Why debt hits close to home”, Globe & Mail

http://www.theglobeandmail.com/real-estate/how-high-home-prices-have-buried-canadians-indebt/article30223649/

“Exclusive data show house prices are at the core of Canada’s growing debt burden, reports Tamsin McMahon”

Of course that by-line should be say that growing debt is at the core of Canada’s house price burden.

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southseacompany

“Scotiabank curbs mortgages in Vancouver, Toronto as prices soar: ‘We’re a little concerned’”, Financial Post

http://business.financialpost.com/personal-finance/mortgages-real-estate/scotiabank-curbs-mortgages-in-vancouver-toronto-as-prices-soar-were-a-little-concerned

“Hot housing markets in Vancouver and Toronto prompted Bank of Nova Scotia to ease off on mortgage lending in those cities, Chief Executive Officer Brian Porter said.”

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southseacompany

“OECD says stimulus, stable oil to lift Canada growth, but warns on housing, debt”, Financial Post

http://business.financialpost.com/news/economy/oecd-says-stimulus-stable-oil-to-lift-canada-growth-but-warns-on-housing-debt

“The OECD also recommends Canada’s central bank begin gradually raising its trendsetting lending level.”

‘On Wednesday, it again emphasized that “very low borrowing rates have encouraged household credit growth and underpinned rapidly rising housing prices — particularly in Vancouver and Toronto — which together are a third of the Canadian housing market.””

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dishwater

OECD economist on BNN this am and says Canada needs to stop foreign investors which are driving up debt levels for locals.
Everyone is saying this and the Fed and especially Christy has her up Rennie’s ass.
RE commentators on BNN after fighting strong, saying ‘we need more data’.. Fuck more data, Gregor was supposed to collect data on empty homes. I am surrounded by empty homes owned by off shore investors. IF I can find then by walking out of my door how come these bozos can’t.

It is a damn scam.

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Shut It Down Already

If only the federal government could find a way of asking every household who lives there, and what their ages, professions and relationships to each other are. They could even make it an imprisonable offence not to respond. Just imagine the data they could get from such a national survey.

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southseacompany

“Scotiabank CEO: Ottawa needs to cool down Canada’s housing market”, BNN Video

http://www.theglobeandmail.com/report-on-business/video/video-scotiabank-ceo-ottawa-needs-to-cool-down-canadas-housing-market/article30223525/?cmpid=rss1

“Brian Porter, President & Chief Executive Officer, Scotiabank joins BNN’s Greg Bonnell for a look at why the bank sees a bright spot ahead for their energy loan losses, and why Trudeau needs to step in to cool down Canada’s hot housing market.”

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wwwww

Apartment building in Burnaby

http://vuosiamaailmalla.fi/blog/wp-content/uploads/2016/hissi2.jpg

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StupidityCheck

Superstitious Albertans!

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bullwhip29

58 is actually a terrible number. why not just skip 30 floors and be done with it. make all penthouses in vanc = floor 88

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OPENHOUSEMASSACRE

This happened two years ago.Anybody know the name of the Realtor in Vancouver, who had Youtube video where he was crying and talking about unethical RE practices.

H e was disciplined and have to change his brokerage to different one because the one he was working wouldn’t let-him stay with his company ?

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paulb

New
288
Sold
191
TI:8415

http://www.paulboenisch.com

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patriotz

Given the ad is in Japanese, perhaps she’s making allusions to Godzilla.

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wwwww

the ad is in english. the japanese version is photosphopped.

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Best place on meth

Another interesting story on that page….

http://www.cbc.ca/news/canada/british-columbia/spot-prawn-fine-1.3609387

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bullwhip29

Scotiabank CEO calls on Ottawa to raise down payment rules again
http://www.bnn.ca/News/2016/5/31/Bank-of-Nova-Scotias-CEO-calls-on-Ottawa-to-raise-down-payment-rules-again.aspx

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bullwhip29

Scotiabank Curbs Mortgages in Vancouver, Toronto as Prices Soar
http://www.bloomberg.com/news/articles/2016-05-31/scotiabank-curbs-mortgages-in-vancouver-toronto-as-prices-soar

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space889

Here is a better analysis of the whole Dalai is not seeking independence of Tibet topic, again on Quora which manage to have excellent debate & analysis on the subject with both facts and opinion, without ever having to sunk to rampant name calling and racism like on this blog:

https://www.quora.com/Does-the-Dalai-Lama-seek-Tibets-independence-from-China

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StupidityCheck

We’re not racist, you idiot. We just hate commie locusts.

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space889

@CanNeverThinkOfAGoodName – He gave up on that idea, and also the idea that he can ever be an absolute ruler of Tibet and its population like before. But I’m sure you know Tibet and Tibetan so well and that they would obviously prefer to remain the way they were pre-1949, with all those cruel forms of punishments and serf living in service of religion and monks. What could possibly better than that? And off course, not be part of China after being part of it for 600+ years already. Talking to you people about these stuff is worse than talking about RE market. At least with RE market, you could at least claim you know something you actually live and know people here. With China, you people sounds like experts even though you know jack squat about it, and just… Read more »

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CanNeverThinkOfAGoodName

Space, do you actually know any Tibetans personally? How many?

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CanNeverThinkOfAGoodName

You kind of remind me of ROC mainlanders trying to explain Chinese New Year to a native San Franciscan like he never heard of it before.

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space889

Heard of something is not the same as knowing something.

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CanNeverThinkOfAGoodName

Precisely, Space, precisely.

It’s too bad that you don’t personally know any Tibetans but base your opinions on the propaganda you are allowed by the PRC to consume. If you are in Canada perhaps your prejudices are so extreme against them that you would not seek out a Tibetan (or a Tibetan-Canadian) to share time with him over a drink. Or maybe you would be scared to, due to your extreme prejudice.

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space889

What Christy is doing would qualify her to be throw out of gov’t and likely facing a long jail sentence and seizure of all family assets in China. Here in Canada? She’s entitled to her triple gold plated pension when she decides she has looted enough for her corp buddies and her ego as premier has been satisfied.

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