Open Topic

Friday Free-for-all!

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171 Comments

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!

171 Comments
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[…] –Lowest interest rates in 5000 years –Tales from a line-up –Careful with that equity Eugene –Would ‘Brexit’ affect our prices? –Bank of mom & dad –More tales from a line-up –Housing bubble alarm […]

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Garth

So maybe it wasn’t locals.

Hahahaha

HAM!

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Garth

Year over year mortgage growth 0.5%.

Prices up a whopping 40% in Vancouver.

I knew I was wrong but wanted to deceive like Madoff. Got some clients to sell and invest with me.

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ostritch

LOL

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Hyper-mega-Bull

Alibaba’s Jack Ma says fakes are better than originals

http://www.cnbc.com/2016/06/14/alibabas-jack-ma-says-fakes-are-better-than-originals.html

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space889

In terms of quality and price.

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Combat roach

Holly shit, what do you say? You people, are collectively fucked up. The worst part is that all of you really believe in such nonsense.

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space889

So care to prove what he said is wrong? Assuming you even read what he actually said?

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Best place on meth

Ma is a full patch member of the communist party.

Of course he’s ok with stealing the property others worked hard for.

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space889

You mean like American Eagles copying other brands and getting sued over it? And when’s the last time you used a keyboard to type your hate messages that’s not QWERT?

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StupidityCheck

Give it a rest you fucking idiot. No one here is stupid enough to buy into your bullshit.

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ostritch

Full patch as in Sons of Anarchy? LOL.

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Hyper-mega-Bull

German 10-year sovereign bond yields turn negative for first time

http://www.cnbc.com/2016/06/14/brexit-news-uncertainty-around-eu-vote-causing-volatility-in-markets.html

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ostritch

Holy shit

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OPENHOUSEMASSACRE

VICE came to Vancouver to talk to people just like you about housing affordability. Here is the last episode of “Surreal Estate”.

https://www.youtube.com/watch?v=1EGveA5poIk

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looo

garbage. like everything else vice does.

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Sellnoworbepricedin4evah

Intelligent, well spoken young people. Nice to see. Also self aware.

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southseacompany

“Surreal Estate – Part 3: How Vancouver’s Young People Are Working Around the Real Estate Crisis”, Vice news

http://www.vice.com/en_ca/video/surreal-estate-part-three

“In Vancouver’s overheated market, skyrocketing home prices, and vanishing rental stock are forcing locals to come up with creative solutions. We talked to some of the city’s young people to find out how they’re managing to continue to live in this expensive city.”

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southseacompany

“Video: Low Canadian bond yields could affect Toronto’s housing market”, 680 News
http://www.680news.com/2016/06/14/video-low-canadian-bond-yields-could-affect-torontos-housing-market/

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Doomcouver

They’re not kidding. Long-term bond yields are taking a nose-dive. http://www.bankofcanada.ca/rates/interest-rates/canadian-bonds/

The market is expecting a BoC rate cut as some point. I guess we’re probably going to 0%. I’m sure it will tank our dollar with it. Going near a $0.60 exchange rate I bet, especially if the Yanks raise rates. At least mortgage rates may go down, pulling in the very last possible real estate bear capitulators. *slow clap for Steve Poloz*

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CanNeverThinkOfAGoodName

I really hope you are not right about this.

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Sellnoworbepricedin4evah

He/she is right. With the exception of possibly the last bit about final buyers of houses coming to market. Even with zero or NIRP the prices might just be too high. Especially with the banks and lenders tightening up their belts.

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CanNeverThinkOfAGoodName

Sad face. My hard earned money going down in value. (I work for a living.)

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space889

Geez…that’s a surprise….

but it’s not because of low interest rate or even NIRP. Sometimes it pays to use that small soft spongy thing between your ears.

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CanNeverThinkOfAGoodName

Like everyone should spend all their time running around buying and selling real estate or otherwise forever be considered a numskull. What an impoverished view of what life has to offer. @Space

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southseacompany

“Most expensive bond market in history has come unhinged. Or not”, Globe & Mail
http://www.theglobeandmail.com/globe-investor/investment-ideas/most-expensive-bond-market-in-history-has-come-unhinged-or-not/article30416063/

“Never before have traders paid so much to own trillions of dollars in debt and gotten so little in return. Jack Malvey, one of the most-respected figures in the bond market, went back as far as 1871 and couldn’t find a time when global yields were even close to today’s lows. Bill Gross went even further, tweeting that they’re now the lowest in “500 years of recorded history.””

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OPENHOUSEMASSACRE

Hong Kong-Canada Business Association president mum on Offshore Leaks connection

There was no answer at Marie Teresa Shaw’s when called for comment at her West Vancouver home on Glenmaroon Road, reached at her home in Burnaby, which she shares with her husband, a German cabinetmaker, Shaw Roschat refused to comment about her name showing up in the ICIJ’s database. “That’s none of your business,” Roschat said. “You don’t have to know anything because it’s none of your business.”

https://www.biv.com/article/2016/6/former-hong-kong-canada-business-association-presi/

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HAMster

Arcadia CA
Los Angeles California’s Richmond.
https://www.youtube.com/watch?v=oFcsFOKXsFU

“3:02 There are Chinese people everywhere, we don’t need to speak English”

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wwwww

That’s the Chinese way. It’s always been like that and always will be. There’s a reason why there are self contained Chinatowns in cities all around the world and have been for 400 years.

Shortly after humans start to colonize mars a Chinatown will be established so that they don’t have to interact with gweilo.

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Combat roach

And we managed to foster the most of that crap, sad…

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History Bites

Ever hear of the Shanghai International Settlement?
https://en.wikipedia.org/wiki/Shanghai_International_Settlement
Payback’s a bitch.

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CanNeverThinkOfAGoodName

Tit for tat conceived as a form of justice, or justification, is as regressive as it gets.

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Best place on meth

Especially when a barbarian culture holds a grudge for generations, or even centuries and then tries to get payback against people who had nothing to do with those ancient injustices.

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History Bites

It’s just karma – the universe balances itself. Nothing to do with justice. Can’t be helped. Just happens. The Chinamen will get theirs in the end, too.

Same with the housing market. Eventually karma will kick in and payback will be a bitch.

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Best place on meth

There are people in the US who just want to be around their own kind and not have to interact with other races or cultures.

They’re called the KKK.

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OPENHOUSEMASSACRE

22:00 to 23:20 Exactly whats happening in Vancouver

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HAMster

After this, all the owners fled to Vancouver BC

http://www.wreckedexotics.com/accident/21174?c=wu741

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Sellnoworbepricedin4evah

Or the Bay Area, or LA,or now Seattle etc. It’s everywhere.

Other city housing blogs sound the same. Talk is all about wealthy Chinese laundering money in their real estate.

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MLS watch

links?

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Sellnoworbepricedin4evah

Try this.

http://www.doctorhousingbubble.com

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wwwww

Same-sex kiss removed from Les Miserables musical in Singapore

Singapore organizers of the musical “Les Miserables” have cut a scene in which two male actors kiss after complaints from the public in the conservative city state where sex between men is illegal.

http://www.reuters.com/article/us-singapore-lesmiserables-idUSKCN0YZ0QF

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paulb

New
395
Sold
201

TI:8491

http://www.paulboenisch.com

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Sellnoworbeprucedin4evah

Anyone else see anything wrong here ?

http://flipstersoftware.com/longf/

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CanNeverThinkOfAGoodName

Creative! It’s a joke, right?

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OPENHOUSEMASSACRE

China’s Rich Girls in Vancouver – 101 East

https://www.youtube.com/watch?v=MFJBgsr939c

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bullwhip29

BIV: In tight housing market, B.C. landlords dodge rent laws with fixed-tenancy
https://www.biv.com/article/2016/6/tight-rental-market-bc-landlords-dodge-rent-laws-f/

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bullwhip29

Victoria-area mansion for sale by live auction in twist on B.C. real estate bidding wars
http://www.theprovince.com/touch/business/real-estate/victoria+area+mansion+sale+live+auction+twist+real/11978832/story.html

http://www.theprovince.com/touch/business/real-estate/cms/binary/11978838.jpg

>>>this is how multiple offer situations should be handled. at a very minimum there is some transparency vs the way things are done normally

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patriotz

“A professional auctioneer will take bids that day, Stephenson said.”

The article is not clear whether these bids will be visible.

“An undisclosed reserve price has been set for the property.”

So you don’t know what price you have to beat. So much for transparency.

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bullwhip29

not the same as australia, but at least you’d know if you’re bidding against an actual person or not vs just taking your agent’s word that there are multiple offers. i think it is complete BS and borderline criminal that agents use this ploy to force you to go all in and overpay (unnecessarily) right out of the gate.

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Shut It Down Already

Nobody is forced. When you know there are other offers just walk away.

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bullwhip29

Kevin K Li, director of reality show Ultra Rich Asian Girls, speaks to Al Jazeera about China’s wealthiest 1 percent
http://www.aljazeera.com/indepth/features/2016/06/world-china-ultra-rich-160609063312819.html
http://www.aljazeera.com/mritems/Images/2016/6/9/4e7f5dc144224a07bd1f557f2bd60def_18.jpg

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Combat roach

Canada should get rid of this cancer, sooner better. It is deadly society disease, and should remain in the shithole isolated as communist experiment.

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bullwhip29

fwiw, this is a different video than the one done by SBS Dateline

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bullwhip29

NDP calls out B.C. government on real estate council reappointments
http://vancouversun.com/news/local-news/ndp-calls-out-b-c-government-on-real-estate-council-reappointments

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bullwhip29

For Millennials, buying a home is a distant dream unless parents help with down payment
http://www.newswire.ca/news-releases/for-millennials-buying-a-home-is-a-distant-dream-unless-parents-help-with-down-payment-582680121.html

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patriotz

“buying a home is a distant dream unless parents help with down payment”

Unless or because?

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Zero Down Forty

Fact is that home ownership rates among young families is up in the last two census periods, just as it has for the population at large.

http://www.bcrea.bc.ca/docs/economics-forecasts-and-presentations/myth-of-the-retreating-millennial.pdf

Prices don’t go up because people don’t buy homes… prices go up because people do buy homes.

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bullwhip29

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

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