Friday Free-for-all!

The weekend! Here it is!

Let’s do another Friday Free-for-all, round up some recent links and kick off the open topic discussion thread for the weekend:

Supply problem?
Don’t panic, but be first if you do
A housing bubble you say?
CRA looks at flippers
the bright side of dead relatives
Big banks nervous
JT: Prices hurt economy
most sustainable on earth
ending homeless a dumb promise
worst city for the young and educated

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

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Brian Ripley
Guest
re: Supply problem? I updated my city and provincial housing starts charts with a plot of census population over the long term chart. http://www.chpc.biz/housing-starts.html Clearly there has been a trend of declining starts since the peak in the 1970’s before interest rates melted up to 18+%… meanwhile population has been trending up all all of that time. The crash in mortgage interest rates since the peak in 1981 has not produced much accessible affordable housing in the major Canadian urban areas of productivity. The “free” market won’t build it because declining rates allows the ability to increase the end price especially if the government (CMHC) protects the capital markets instead of the tax paying consumer. My guess is that over the next 50 years we will see more government subsidized housing that will look like “project” towers that we can… Read more »
space889
Member
space889

Sshhhhh….you don’t want to upset the bears, especially telling them that 750 sq ft condo will be a luxury in the future. Next thing you know, some will be calling for your head for saying it’s not all Chinese scum locusts fault.

Combat roach
Guest
Combat roach

I am sure you would agree if Vancouver could avoid the arrival of any Chinese scum locusts it would be a better place by far.

Best place on meth
Guest
Best place on meth

Who the fuck are “the bears” that you keep babbling about?

What a retard.

Shut It Down Already
Guest
Shut It Down Already

He’s right – there are no bears left since Pope turned this place into a forum for hate speech. Nobody talks about real estate anymore.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

It’s not a forum for hate speech. It’s a forum for pointing out the emperor has no clothes.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

It’s so weird when people from one nation invading a second nation try to pretend like when the invaded country fights back it’s being racist. (Shut is one of those that does this.)

Canadian people with Chinese ancestors are just as disgusted by the greedy entitled rude mainlander invaders as everyone else. The link to the documentary that I posted above in a previous post explains how the invaders don’t appreciate ancient Chinese culture and will end up destroying Chinatown.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I guess the post with the link shows up below, rather.

Best place on meth
Guest
Best place on meth

“Nobody talks about real estate anymore.”

What a stupid thing to say, even for someone as stupid as you. Everybody talks about real estate you fucking whiner?

Whaaa…racists! Whaaaa…hate speech!

If it’s so bad here then LEAVE. Don’t ever come back. Go hang out at RET.

Better yet, go step in front of a bus, traitor.

StupidityCheck
Guest
StupidityCheck

Hey, LocustTroll889, stuff a 袜子 in it!
白痴!

donelike burnttoast
Guest
donelike burnttoast

The Bank of Canada keeps bleating on about caution for home buyers. Don’t be rushed into the market.

they have been saying this shit since carney was in power. Meanwhile anyone who ignored them made out like bandits and anyone who listened to these bozos, has been priced out of the market.

POLOZ – I have news for you, you did it, with your stupid low rates. With not kicking the banks to hold back, you and that fool harper who doubled the CMHC.

donelike burnttoast
Guest
donelike burnttoast

And of course that complete sell-out-to-the-real-estate cartel Clark who will no doubt get some great job when she is kicked out at as an advisor to a Chinese Billionaire like Baird did

http://www.theglobeandmail.com/news/politics/john-baird-lands-yet-another-job-as-adviser-to-hong-kong-billionaire/article23786325/

Best place on meth
Guest
Best place on meth

She should be in prison.

Combat roach
Guest
Combat roach

Afghanistan prison guarded by Talibans.

space889
Member
space889

Control over the banks rests with OSFI and ultimately the finance ministry, not Bank of Canada.

http://www.osfi-bsif.gc.ca/Eng/osfi-bsif/Pages/default.aspx

StupidityCheck
Guest
StupidityCheck

Do you get 50 cents for this comment as well?

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Space and Shut, I hope you are paying taxes on your 50 cent society money that you earn in Canada.

Shut It Down Already
Guest
Shut It Down Already

Hey, dipshit, not everybody who disagrees with you is Chinese or somehow connected to China. Some of us just despise racism.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

You’re rather rude, aren’t you? Stop your insinuations: they are what make you sound like a paid troll. Be explicit and direct about someone has actually said, rather than sneakily insinuating something making it sound like they said something they didn’t.

AND PLEASE, PLEASE: Stop conflating nation with race. A person’s citizenship, residency and long term commitments are different from his race.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

My comment above directed @Shut

southseacompany
Member
southseacompany

“Canada’s banks sound the housing bubble alarm, finally”, Macleans
http://www.canadianbusiness.com/economy/canadas-banks-sound-the-housing-bubble-alarm-finally/

“Of all the statistics that demonstrate how unglued Vancouver’s house prices have become from reality, the most telling is one concocted by Vancouver mathematician Jens von Bergmann. In a recent blog post, he noted the city’s workers, from baristas to doctors, collectively pulled down about $18 billion last year in income. By contrast, he estimates, owners of single-family homes collectively “earned” about $25 billion in 2015 simply by “twiddling their thumbs” and watching the value of their drywall soar.”

BubbleTea
Guest
BubbleTea

Well the Feds finally admits to a housing bubble problem. Meanwhile Kristy and her merry band of RE agents went to China to sell more RE to the locust and blow up the bubble even more.

Best place on meth
Guest
Best place on meth

Did anyone notice the price increases for the REBGV last month?

Detached +7.9%
– Burnaby +10%
– New West +9.7%
– Coquitlam +9.4%
– Richmond +9.3%
– Van east +8.3%
– N. Van +8.1%
– Tsawassen +7.8%
– P. Moody/Pitt Meadows +7.7%
– Van west +7.6%

Condos +2.1%

Overall +5.2%

This is the increase in just one month.

space889
Member
space889

But I bet Vangrl, and rest of bear portfolio beat that handily right?

Best place on meth
Guest
Best place on meth

Why don’t you and shut it down go sit down together for a nice meal of dogshit, you fucking robot.

You two are pricks of unbelievable proportions, you don’t deserve to be treated as humans.

Shut It Down Already
Guest
Shut It Down Already

… says the bigot.

Best place on meth
Guest
Best place on meth

Between the traitors, invaders and corrupt politicians – we have some housecleaning to do in this country.

Camps will be a must.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

No. Don’t muss our forest land with them.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

A better punishment for Space would be to make him read a book.

Best place on meth
Guest
Best place on meth

Or making him watch this:

http://deathbychina.com/

Forcing him to watch a detailed account of how evil his shithole country is would be like shoving garlic in the face of a vampire.

realist
Member
realist

The numbers were described today by the Vancouver Sun as “surreal”, under the headline “People of all ages, all incomes united in anger over housing – Poll shows vast majority blame politicians for failing to act”. The politicians’ incompetence / naivete / corruption are being exposed. This has the potential to be a much- needed disruptive “game-changer” for Canadian politics.

patriotz
Member

80% think the government should tax absentee owners – well people are always in favour of taxing someone else. Note that the poll does not ask people if the government should take action to bring prices down – which is the question that really matters. At any rate, British Columbians have a history of saying one thing to pollsters and another in the voting booth.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Maybe there will be follow up polls, but it does sound like the poll gives good information for the purpose of knowing how the public would react if such a tax were immediately implemented.

space889
Member
space889

Leaving elderly family member in emergency while they go on holidays, and taking up spaces that actual emergency patients need. How low can scum locust stoop to? Why do we even allow this in our social civilized country? When can we kick them out?!

https://ca.news.yahoo.com/nova-scotia-family-leaves-grandmother-er-week-during-193736935.html?nhp=1

Combat roach
Guest
Combat roach

How do you know they are Chinese?

Chinabuyeverything
Guest
Chinabuyeverything

Oh god. We all know

Best place on meth
Guest
Best place on meth

The locust is feebly trying to demonstrate that Canadians do bad things too.

It’s his pathetic attempt to redirect attention from the universally horrid actions of his homeland and the rapaciious vermin that he calls his countrymen.

He’ll never be a Canadian, he should go home.

Woops!
Guest
Woops!

Nova Scotia are scum. Everyone knows that. Just like the chinese

southseacompany
Member
southseacompany

“Government bond yields tumble to fresh lows as global stocks plunge” Globe & Mail
http://www.theglobeandmail.com/report-on-business/top-business-stories/bond-yields-sink-stocks-slide-desperately-seeking-safe-assets/article30389086/

“Stocks are falling sharply and bond yields tumbling in what market players say is a desperate hunt for something safe.”

space889
Member
space889

Like maybe Vancouver RE perhaps that went up over 7% for SFH? How much did Chinese & Yuan fall in the last month?

southseacompany
Member
southseacompany

“Here’s why the collapse in global bond yields could cause a $1 trillion financial nightmare”, Business Insider

http://uk.businessinsider.com/heres-why-the-collapse-in-global-bond-yields-is-so-significant-2016-6

“If you’ve been following the markets in recent months, you’ll be well aware that global bonds yields are tumbling. Yields have fallen so far that more than $10 trillion of government debt worldwide is now trading below zero.”

patriotz
Member

Metro Vancouver’s detached house owners are under attack

Luckily, North Vancouver Mayor Darrell Mussatto is looking out for them.

Mr. Mussatto said this week that he would like the province to look into separating single-family houses from condominiums and multiple-unit dwellings so owners of single-family houses could be charged a lower tax rate.

The poor things.

Chinabuyeverything
Guest
Chinabuyeverything

Jeeezuz. You win a lottery and then complain about keeping your society going.

xyz
Guest
xyz

Morneau, Bill (CAN), Minister of Finance

“Deep Dive” Bill, hobnobbing with the world’s elite at the secret Bilderberg meetings in Dresden Germany this weekend.

http://bilderbergmeetings.org/participants.html

******************************************

The guest list is purely academic as Bilderberg’s billionaires arrive

https://www.theguardian.com/world/2016/jun/10/bilderberg-conference-charlie-skelton-blog-academic

Madashell
Guest
Madashell

Lotus Land has been transformed in Locust Land!

paulb
Member
Active Member

New
169
Sold
174
TI:8358

Thinking of buying or selling? Contact me anytime http://www.paulboenisch.com

888888
Guest
888888

This market won’t last forever,, China only recently started reforming their system.Once the market figure’s out where they fit in ,watch out. http://www.marketwatch.com/story/bill-gross-negative-yields-will-lead-to-supernova-like-market-implosion-2016-06-10

StupidityCheck
Guest
StupidityCheck

Better yet, if you’re thinking of buying now, seek professional help.

888888
Guest
888888
888888
Guest
888888
CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

The story of the destruction of Vancouver from Australia’s point of view. Maybe this was posted before — if so apologies for reposting. It’s really good. I hope that lots of people see it. But warning: lots of attitude. Makes you want to kick someone.

http://www.sbs.com.au/news/dateline/story/chinas-millionaire-migration

HAMster
Guest
HAMster

I watched this video and that one Chelsea Jiang is quite a piece of work; with that vacuous non expressive face, typical not caring attitude… “The Chinese brought you great food and a better economy. What’s there to complain about?” Yup. Screw the locals, they are in our way.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Yeah, that’s when I had to stop and get up out of my seat and walk around a little and shake myself. And that’s when I tried to eject the Doris Day song out of my head, imagining politicians tasked with leadership for this province, who might hear the Chelsea Jiang creature make that “what’s to complain about?” remark and then themselves sing out “Whatever will be, will be, the future’s not ours to see.”

Why don’t we just get rid of the navy and the passport system? What’s the point of pretending there is a border?

Actually, I do have this question maybe someone can explain: Is the end result of total free market globalization no nationhood at all?

Best place on meth
Guest
Best place on meth

The blank, stony face with zero expression is one of the best ways of distinguishing a mainlander from other Chinese around the world who actually have a soul.

You will see the same robotic face behind the wheel of most Range Rovers these days.

franko
Member
Active Member
franko

China’s debt (which was 237% of GDP in March) is a runaway train heading for a cliff.
A whole new meaning to unsustainability.
No wonder locust millionaires are trampling each other to smuggle their money out before the big Bang.
http://www.ft.com/cms/s/o/acd3f2fc-084a-11e6-876d-b823056b209b.html#a

david
Guest
david

You know what can create a “supply problem” ? When people are so delusionally positive that simply punching some more time will risklessly —ie. with complete certainty — deliver them a materially higher value later.

Current supply is not the source of this decade-plus old problem…..it is a very rational reaction to an utterly artificial, criminally manipulated market.

HAMster
Guest
HAMster

Here’s more anecdotal evidence of you-know-what: my wife was talking to a friend of hers who bought a house in Lion’s Bay in 2013 and they paid $880,000 (+PPT) and a very similar house down their street just sold for $1.8 million so almost one million dollar gain in 3 years. Guess who the buyer was. She also said there were recently two sales with lease-back agreements and just take a guess who bought those two houses… starts with a “C” and it’s not Canadians.
This is a financial invasion of unprecedented magnitude.

Best place on meth
Guest
Best place on meth

It’s financial terrorism, actually.

These chinese money launderers are nothing short of terrorists, aided and abetted by Christy Clark.

888888
Guest
888888
patriotz
Member

Such a disclosure made by a politician with the third-lowest approval rating for premiers in the country (according to a February Angus Reid poll), who is facing an election within the year, ought to be met with at least a soupçon of cynicism.

And that doesn’t count the fact that Christy Clark was the first to praise Christy Clark — “I wish I’d had the courage to say something then. I do now,” she wrote — and thus laid out the framework in which she sought to be seen.

Wow, I’d never liked Blatchford but this redeems her for me right here.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName
I was defending CC’s revelation yesterday but I have to admit that the case she gives — of a stranger pulling her off into the bushes (where she was able to get away before being raped) — plays into stereotypes people have about rape. Stranger rape is not nearly as common as acquaintance rape. Being accosted by strangers is not usually what happens, rather, familiar faces unexpectedly violate one’s trust while at the same time others turn a blind eye to its happening and are thus enablers. Also, I think I can grant the point many of you have made, that her revelation was purely a marketing ploy for herself, while still holding that we make headway on the front against violence against women when a proven-to-be-cynical and self-serving politician would consider it useful for re-election to connect herself to… Read more »
david
Guest
david

For Canadian journalism, Blatchford is the tits.

Slava
Guest
Slava

And a very pathetic one at that. Right Christy?

bullwhip29
Guest
bullwhip29

sad, desperate ploy to manipulate the public and bolster her numbers. pretty certain this is only the beginning, so take a deep breath everyone…

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

^^^ This.

Until those in a position to implement relevant tax rules, or make new tax rules, or immigration rules, or to set interest rates etc., realize that this situation is a unique confluence of factors, so that the usual analyses they are so confident about don’t work, and at the same time that the situation is extreme and dangerous as a physical invasion with tanks, there will be no help.

They need to have some humility and at the same time realize that they are being called to act at an important moment in history.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Or maybe they’re like all, que sera, sera, stop being such a drama queen.
https://www.youtube.com/watch?v=azxoVRTwlNg

which makes me, ordinarily a peaceful person, want to go kick someone.

space889
Member
space889

Wow, paying you a tax free $1M dollar is financial terrorism. No wonder every Canadian with a home is lining up to get some.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Basic income economy (considered by Switzerland) vs. Vancouver’s asset sitting, giving to a select few
Keiser Report
https://www.youtube.com/watch?v=RSUbHBsrnEg
https://www.youtube.com/watch?v=RSUbHBsrnEg

888888
Guest
888888
Best place on meth
Guest
Best place on meth

I’m sure the chinamen will be doping it up like crazy again at the Olympics this summer, considering that cheating is an industry and standard part of the culture in that shithole.

http://www.reuters.com/investigates/special-report/college-cheating-iowa/

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

“Foreigners in the United States on student visas face possible deportation under U.S. immigration law if expelled from school.”

says the article. I wonder if we have any law like that in Canada.

These outfits that supply the ringers to take exams and who write essays for the students are really pretty sophisticated, and some have the money to pay. Getting a visa out of it or better makes it worth it.

Bear Vancouverite
Guest
Bear Vancouverite
Another report from the trenches. Today I visited the new Polygon development, “Kinglest Estates” that was in news a few weeks ago because some people had lined up to buy units even before any announcement was made to sell anything. Those people ended up buying all 30 units that Polygon had intended to sell in their first “release” of units. Today (Saturday Jun 11th) was the original intended “first preview” date of the development, and Polygon originally said there would be no more units for sale. However, late in the week, they sent out an email to pre-registered “VIPs” stating they would release some more units (around 30). To give some context here, the entire development is slated to be 120 units in size and the prices would be $1.28M for 1700sq ft or $1.6M for ~1950 sq ft and… Read more »
patriotz
Member

” I’m just shocked that so many people can afford to buy $1.6M townhomes in a fairly non-central part of Richmond.”

Ah, but you don’t have to be able to buy it. You just have to come up with the deposit, and then you flip the pre-sale to someone who can afford the final sale (or another flipper). That’s the plan anyway.

888888
Guest
888888
southseacompany
Member
southseacompany

Most of the sales were probably lined up months in advance. Reminds me of this CBC doc from a few years ago, Condo Crunch;

https://www.youtube.com/watch?v=SNyltNIHhgs&spfreload=10

fosolo1
Member
fosolo1

Vancouver Real Estate w/ Marc Cohodes – The Lynda Steele Show – June 10, 2016

Yesterday we heard the Bank of Canada governor joining a recent chorus of major institutional voices – including Canada’s major banks – warning of a correction in Vancouver’s housing market. But what the heck took them so long? We know that investors have been foreseeing a burst bubble for YEARS now….

fosolo1
Member
fosolo1
Doomcouver
Guest
Doomcouver

The Cooper Commission, I like that idea. Marc Cohodes for premier of BC!

Chinabuyeverything
Guest
Chinabuyeverything

Back to real estate .

Interesting price comps between living in Shanghai vs Vancouver.

http://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=Canada&country2=China&city1=Vancouver&city2=Shanghai&tracking=getDispatchComparison

Seems like life necessities such as basic food, Internet, mobile phone minutes, public transit. MUCH cheaper in Shanghai. Rent moderately less there.

However property to buy much more expensive in Shanghai. So there price to rent ratio even worse than our. Also their avg wage much lower.

Looks like speculation to me.

Not sustainable.

888888
Guest
888888
Chinabuyeverything
Guest
Chinabuyeverything

Saw that a while ago. It’s just speculation carried over from China. Would cost a lot more to buy that there than here.
Important. Their rents are low there. (Low here too vis a vis owning).
Believe me if owners could get higher rents they would. But rents are tied to incomes.

Chinabuyeverything
Guest
Chinabuyeverything

In any event, properties prices here and in China are based on speculation. Not on cash flow investments.

Chinabuyeverything
Guest
Chinabuyeverything

Really.

It’s gambling.

Chinabuyeverything
Guest
Chinabuyeverything

This whole not really working thing and resting your laurels on your home value going up isn’t going to work out very well in the future.

SELL NOW OR BE PRICED IN FOREVER !!!

Chinabuyeverything
Guest
Chinabuyeverything
southseacompany
Member
southseacompany

“Will Canada’s Housing Boom Go Bust?” Bloomberg TV

http://www.bloomberg.com/news/videos/2016-06-09/will-canada-s-housing-boom-go-bust

“The Bank of Canada highlighted increasing household vulnerabilities in the June release of their Financial System Review, and indicated that the overall risks to financial stability are largely unchanged since December. Bloomberg’s Pamela Ritchie has more on “Bloomberg Markets.”

Sellnoworbepricedin4evah
Guest
Sellnoworbepricedin4evah

Mortgage $2400 a month collecting rent of $940 a month. Move along. No bubble here to see…

http://www.theglobeandmail.com/opinion/chinas-middle-class-dream-on-shaky-ground/article25142239/comments/

OPENHOUSEMASSACRE
Guest
OPENHOUSEMASSACRE
CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Vancouver and Richmond drivers could win this contest! “Stops at greenlight.” Yeppers. Stops and waits for someone going the opposite direction who is in the left hand turn lane to complete their left turn instead of themselves taking the right of way with the green light, as they should. They stop and wait while traffic behind them honks and traffic behind the left turn honks. Meanwhile the car in the left hand turn lane can’t turn left because there is a second lane in the oncoming direction and those cars are continuing to drive through the green light in the normal way, making it impossible for the left turner to turn left till the light begins to change.

888888
Guest
888888
southseacompany
Member
southseacompany

“OECD flags housing correction as Canada’s biggest risk and urges tighter rules”, Financial Post
http://business.financialpost.com/news/economy/oecd-flags-housing-correction-as-canadas-biggest-risk-and-urges-tighter-rules

“Canada’s housing regulations should be further tightened and regionally targeted to help cool booming real estate markets in some of its major cities, a report from the OECD recommended on Monday.”

“A disorderly housing market correction, particularly in Toronto and Vancouver, remains the main domestic downside risk to Canada’s economic outlook, the Organisation for Economic Co-operation and Development said.”

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