Gentleman says “It’s not if, but when bubble bursts.”

CCEC Credit Union is a vancouver-based lender.

Their CEO has the delightful name of “Ross Gentleman” and is interviewed over at BNN where he says that the Vancouver housing market is in a bubble and it’s not if, but when it bursts:

He says they are seeing a number of people ‘trolling’ lenders looking for financing on speculative purchases.

He calls the upper end of the market potentially more volatile and says that CCEC is committed to more conservative lending and tends to focus mainly on primary residences.

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BubbleTea
Guest
BubbleTea
Hyper-mega-Bull
Member
Hyper-mega-Bull

2 vancouver schools are being renamed.

i submitted “Confucius Elementary” and “Dr Norman Bethune”.

http://www.vsb.bc.ca/schoolnaming

ostritch
Member
ostritch

Bejing BS. ? Round-Eye Eat Shit Here or is that just reserved for restaurants?

bullwhip29
Guest
bullwhip29

will be very interesting to see how they approach the school within a highrise concept and whether the developer will have a say in the naming, the curriculum and which students are accepted into the program.

ostritch
Member
ostritch

The curriculum is untouchable. Believe me I would welcome Some Chinese influence here. As of today, the curriculum is all loosey goosey. The teachers have managed to get rid of exams. Period. Homework is the next evil to be purged from the system along with marks. This is why all we graduate are racist-homophobic- sexist-spotters. Spot. Point. Decry. That’s why the market has been able to be handed over to foreigners. Spot the racism. Point it out in the media. Decry it. Nothing changed when it can’t be discussed.

space889
Member
space889

Didn’t they say that rote learning is the bane of culturing interest and creativity in students? I mean who needs to know how to solve a quadratic equation in real life anyways?

All that’s needed to succeed in STEM jobs are creativity and know how to learn. It’s not like Fermat, Gauss, Leibnitz, Bernoulli, Fournier, Euclid, etc got where they are by rote learning and taking exams. They got where they are by self-discovery learning.

Self-discovery learning and learning how to learn is going to create genius out of every John and Jane in BC and make us a STEM powerhouse!

They should take out midterms & finals in Universities next.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Space, you are bizarre. Are you actually suggesting that Leibniz and Euclid and the rest arrived at their discoveries through rote learning?

space889
Member
space889

Why am I surprised that bears have 0 reading comprehension?

Here is what I said:
It’s NOT like Fermat, Gauss, Leibnitz, Bernoulli, Fournier, Euclid, etc got where they are by rote learning and taking exams.

They GOT where they are BY self-discovery learning

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Pretending that you weren’t speaking sarcastically. That’s such a weak rhetorical trick. Where’d you learn such weak ploys?

bullwhip29
Guest
bullwhip29

who said the schools would be public? concord pac or whoever could market a new city within in a city concept that would include a lot more amenities and services (members only of course) than we are accustomed to seeing. not surprisingly having your own school, daycare, medical clinic etc would all come at a considerable cost, but those with the means (and connections) would be all over this in a heartbeat.

space889
Member
space889

Uhm…don’t we already have that? The average joe can’t get into St. George, Little Flowers, Van Academy, etc without $$ and connection. False Creek Surgery offers fast and quick surgery but good luck if you don’t have $$$$ for the club fee.

The monied elite are always separate from the poor masses. You think Christy would be on a wait list if she ever gets a serious illness or surgery?

bullwhip29
Guest
bullwhip29

no idiot, public schools are being closed. properties sold off to developers. new upscale tenants and higher paying customers move in. this formula will apply to education too. maybe owners in bldg will get first dibs.

space889
Member
space889

They are building new public schools where there is demand (eg. Surrey) and closing them where there isn’t enough students. Unless you like to pay extra school tax so schools can be kept open with only 30% capacity utilization.

And open private school is exactly what I said. One set of rules and system for the rich, and another set for everyone else.

ostritch
Member
ostritch

You’re right. Chinese and Caucasian super rich would love that. It can be justified based on the European systems that have a mixture of public and private. Anyway, the breakup of Medicare is assured. Ask anyone who works in the system. It’s done.

space889
Member
space889

Medicare is harder to break up due that pesky little Canada Healthcare Act which is a Federal jurisdiction. Education being a provincial one is much easier to pilfer, loot, and destroy.

patriotz
Member

That’s not the real reason. Medicare is used by everyone and the biggest users are seniors who are the most likely to vote. Only people with kids really care about education and they can be divided against each other on issues like religious schools.

Best place on meth
Guest
Best place on meth

I’m all for the anti-bullying agenda being promoted, but other than that you’re right, kids are being turned into hyper-sensitive pussies who seek to find something offensive in just about everything.

space889
Member
space889

Speaking of the devil…..you seem to get upset pretty easily, especially when people call out your racist bullshit. Biggest crybaby.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Says Space, the person who thinks that Tibetans, people of African descent and women are dirty.

Best place on meth
Guest
Best place on meth

Not to mention his hypocritical defense of a mob beating the living daylights out of a muslim child, or his hypocritical defense of a hostile takeover of a strata council who booted everyone that wasn’t chinese.

Fucking racist always playing the race card against everyone else.

space889
Member
space889

There are two sides to every story and you just see one side presented in a convenient photo. Maybe you should head to Paris and experience some child thievery first hand first.

space889
Member
space889

Only you think that…..secretly.

StupidityCheck
Guest
StupidityCheck

You’re the sensitive, thin-skinned one.
P.S. Shut up.
P.S.S. You idiot.

Combat roach
Guest
Combat roach

Some kids are less sensitive and quite materialistic, perfect match for Vancouver future…

http://eznewlife.com/animation_photos/644.gif

Best place on meth
Guest
Best place on meth

A fistful of Mao’s will do it every time.

Best place on meth
Guest
Best place on meth

That kid is a corrupt official in training.

Probably should have been aborted.

ostritch
Member
ostritch

Hey. My friend’s kid was bullied on pink shirt day for not having the right colour of pink in his shirt.

space889
Member
space889

Wow…..that’s funny and sad at the same time. Sounds like something bear’s kids would do.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Is that like not being maoist enough?

Hyper-mega-Bull
Member
Hyper-mega-Bull

mainland students aren’t like their studious Cantonese counterparts you may have encountered in the past. ask anyone who works in a west side school.

ostritch
Member
ostritch

I have heard this too. Almost as lazy as the local kids (it’s pretty hard to beat the uselessness of local kids gotta say) but these mainland parents threaten the schools with lawyers if they don’t like the marks kids get. Schools are terrified of lawyers. Too expensive. So easy to get what you want.

space889
Member
space889

Didn’t this trend started in university where parents threaten to sue for profs giving their kids failing grade for cheating, plagiarism, etc? And the current trend of showing up at interviews with their kids? So I guess when the newcomers copy local customs, you still get pissed at them learning and practicing local customs?

space889
Member
space889

You mean like telling the teachers to fuck off, and still can’t speak a word of English after 5 years of ESL in high school? That’s how a lot of those studious HK students were back in my high school in the 90s.

patriotz
Member

Teachers have no control over exams or other curriculum items and they are not allowed to negotiate them as part of their collective agreements.

Hyper-mega-Bull
Member
Hyper-mega-Bull

The only way is up for Richmond’s high-rise kids

The Touchstone Family Association’s executive director cited recent data which highlights pre-schoolers in City Centre are the most at risk of isolation ­— not least due to the fact the majority of them are growing up in high-rises and often in the care of their non-English speaking grandparents.

It’s that same isolation that can lead to socialization issues and other problems for a child by the time he or she reaches kindergarten.

“The Chinese language is used the most in City Centre and we’re not just an English-speaking community anymore,” she said.

http://www.richmond-news.com/community/the-only-way-is-up-for-richmond-s-high-rise-kids-1.2193781

bullwhip29
Guest
bullwhip29

well this certainly wont help. daily exercise will be walking to the elevator.

http://www.richmond-news.com/news/richmond-school-board-eyes-high-rise-school-1.2149578

space889
Member
space889

How does not speaking English equate with social isolation? Especially considering it is a common practice for Chinese to congregate in common areas and actually talk with neighbors and play? Something that I don’t observe in Caucasian dominated complex as such.

heck, many newly Chinese people find it weird that you can only go to your floor using the elevators, which really enforces isolation. Something that’s not very common in many complex in China.

BubbleTea
Guest
BubbleTea

Why don’t we go all the way with “Chairman Mao” or “Glorious Red Communist”.

fosolo1
Member
fosolo1

PAA Research’s short thesis on Canadian housing :
http://www.bnn.ca/Video/player.aspx?vid=885670

bullwhip29
Guest
bullwhip29

The bubble has already burst… in China.

What we are witnessing here is all the blowback from a failed experiment of monstrous proportions never seen before in history. This city is rapidly becoming very much like those they are fleeing in droves from complete with all the pollution, overcrowding, overextended infrastructure and increasing stress and toxic thinking among its residents. Well done to all involved!

ostritch
Member
ostritch

Ya. Congrats all around. Maybe that special wanker who is preserving that Shaughnessy mansion might want to consider not throwing away all his english books. He might want to peruse Rousseau and Locke and other thinkers who put forth ideas of building societies that work.

bullwhip29
Guest
bullwhip29

you do realize that this guy’s little vanity project is also being done for spin control and the CBC seems perfectly happy to accomodate

ostritch
Member
ostritch

Sorry. Which guy s’s vanity project? It’s hard to distinguish which piece of CBC propaganda you’re talking about. Last night they had on something particularly irritating but I blocked it from my mind as I often find myself doing. So is this Trudeau’s vanity project or the head of China?

ostritch
Member
ostritch

Oh. The Earl. You’re talking about The Earl Of Shaughnessy. Ya. Donald Luxton made a comment about how we’re all racist for saying Chinese are the same but what happened for Don? He found a big project with limitless budget. I’m happy for him but there is non”lesson” here for the rest of us. The CBC can’t wait to go to air with this kind of bullshit.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

CBC, you can do better.

A billionaire? From a country that still celebrates Mao? He should rent out all the extra rooms (furnished) to UBC and Langara students at $150 a month, with internet access included.

In exchange, maybe one of them would offer to explain Locke or Rousseau or Mill.

No one should pay any attention to billionaires, not for any price. Just ignore them.

space889
Member
space889

Why would he care what you or Locke or Rousseau or Mill think?

Remind me of the Fox & Grapes:
https://en.wikipedia.org/wiki/The_Fox_and_the_Grapes

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Because Locke, Rousseau and Mill are lots smarter than him, for one thing, and because modern democracies (and systems of human rights protections) were built on their ideas, for another thing.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

The arrogance of extreme wealth knows no bounds, witness Trump. Your defense of the invasion, Space, reminds me of Trump. Hey, maybe you ARE trump.

And I don’t need to look up the wikipedia thing. I read Aesop as a child.

And no, I wouldn’t if I were you attempt to discredit commentators here by providing psychological diagnoses. There is such a thing as genuine concern about community and future and civilization and fairness to all. Materialistic people usually don’t get it, and usually paid cybertrolls are pretty materialistic (if not sadistic).

space889
Member
space889

So I guess you have arrogance of extremely poverty then? Or it is extremely jealousy?

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Hahaha.

Space, you’re just hopelessly recalcitrant.

space889
Member
space889

Uhmm…really? I thought democracy and human rights first started with Greeks which had a lot of good ideas. But I guess they aren’t European enough for you?

And off course, Europeans and their ideals are obviously universally superior to all other cultures and believes and societies. How dumb for me to think otherwise and that societies should decide for themselves what system they want to use.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

“first started’ — well,not exactly.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I mean to say that there was not a continuous development of Democracy from the time of the Greeks, and also the particular versions of democracy were quite different.

ostritch
Member
ostritch

All of which will be flushed out of the system by money.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Sadly, maybe so.

space889
Member
space889

So he’s spending tons of his own money for spin control?? Why? Not like he gets any benefits out of it.

bullwhip29
Guest
bullwhip29

it is just a doll house for his toys. he owns many other properties. important point is that the cbc is bending over backwards to make him look like a saint perhaps with a little kick in the pants (and maybe wallet too) from outside forces

space889
Member
space889

CBC is Fed Gov’t funded so I doubt they care about it, unless this guy is donating some serious $$$ to the Fed Libs. More like that they need “human” story content and this guy is providing it for free.

bullwhip29
Guest
bullwhip29

pretty certain they didnt just bump into each other on the street and strike up some random conversation. if i had the resources to dig deeper into this i’m sure i would find all sort of juicy details

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I’m actually sort of surprised about the big Shaughnessy Mansion not being torn down. Don’t these old mansions have GHOSTS in them?

ostritch
Member
ostritch

CBC is using him as a homily to correct our thinking. Not all Chinese don’t care about the culture here. Some work extra hard to PRESERVE it. Except, of course, it’s not true. The opposite is true. Just read all of Space’s posts.

space889
Member
space889

So you bitch when Chinese owners tears down Shaughnessy mansions to build a new one, and now someone wants to preserve one and you still bitch about him for wanting to preserve mansion??

Why not just come straight out and say you don’t think Chinese should own any Shaughnessy mansion period?!

Best place on meth
Guest
Best place on meth

Criminal locusts should not own ANYTHING in this country.

They should be deported.

space889
Member
space889

Sure…right after moronic useless racists are all hung or devoured by locusts first. And then the locusts can die from burst stomachs. Kill 2 evils with one go.

Best place on meth
Guest
Best place on meth

Shut up, racist.

space889
Member
space889

Well you can choose not to be toxic thinking and move forward constructively. But I guess that’s just too damn hard for most of the bears who just want everything to be handed to them on a plate, while pretending they actually worked hard for it.

I was born in Vancouver and graduated from UBC so I deserve a SFH in Vancouver West, even if I only make $50K!! Never mind population is growing and supply is decreasing. I showed up so I should get a nice shiny medal!

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Your idea of the population who is left out of buying or living in Vancouver West is way too narrow. Besides those milennials who grew up here and have a good education and are trying to start families, there are other demographics who are left out of consideration entirely who would arguably have more of a claim than the various and sundry multimillionaires who have no connection to the land and no commitment to it or the people who are here, and no appreciate for its values.

space889
Member
space889
Well, is it any surprised that when you make the system wide open to attract people with money that you will get a lot of dirty money & criminals trying to get in? And then you make a big show of human rights protection by refusing to deport criminals, regardless of crime, back to country that actually would appropriate punish the said criminal, you would actually get even more criminals & dirty money to come in? Canada is heaven for criminals due to its stupid PC system and courts and everyone in the world knows it. That’s why dirty money flow here. If you want to shut down dirty money fast, the solution is very simple. Deport everyone that’s on China’s corruption wanted list in 3 months and actually follow your own anti-money laundering laws. For the actual real foreign… Read more »
CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Sending back people on China’s list would work, except that China will include honest political dissenters on its corruption wanted list, along with genuine dishonest thieves.

HAMster
Guest
HAMster

Just a reminder (from 2014) that the NDP is also into real estate in a big way:

http://www.vancouversun.comJenny+Kwan+represents+Canada+poorest+neighbourhoods+scoops+Kitsilano+home/9719713/story.html

I’ll still be voting NDP.
Gotta get rid of corrupt Christy.

space889
Member
space889

I always said, if I’m going to be screwed, better get screwed over by guys working for “working people” aka unions than corps since at least the average union guy is going to recycle the cash back into the local economy and stay here.

ostritch
Member
ostritch

I wish I could believe the NDP will be different. I can’t.

Best place on meth
Guest
Best place on meth

Doesn’t matter anymore if the NDP is better, you can’t leave any party in for 15 years – the longer they’re in power the more corrupt they become.

ostritch
Member
ostritch

Yup

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Agree. That’s how it happens in smaller organizations too. People just get used to having power and stop trying so hard to do things right.

StupidityCheck
Guest
StupidityCheck

Every so often, you need to chase away one group of pigs from the trough, so others can feed.

bullwhip29
Guest
bullwhip29
patriotz
Member

The only halfway sensible thing he said it this:

Rosenberg pointed out that Morneau has already “tinkered” with taxes for homebuyers, but that doesn’t address the “underlying problem” of there being too few homes on the market.

The reason why there are too few homes on the market is that owners who would ordinarily sell are holding on to them (often owning multiple properties) in the hope prices will go up further. Change the tax laws to encourage people to sell.

bullwhip29
Guest
bullwhip29
Combat roach
Guest
Combat roach

“The cost of homes in these cities increasingly bares no relation to the salaries earned by the people living there; and that’s dangerous.”

Why is dangerous? For whom is dangerous?

Combat roach
Guest
Combat roach

Regarding foreign investor bullshit… so fucked we are.

“It is not simply a situation whereby the wealthy from abroad have come to love our cold weather (in Toronto) or rainy season (in Vancouver), Canada’s global cities have become a place where the international wealthy but corrupt can clean and park their illegal cash.”

Combat roach
Guest
Combat roach

Spaceshit, come over and enlighten us about how fucking capable Chinese businessmen and his housewife want clean air and good schools for their kids, motherfucker…

“Cities like Vancouver have become places where corrupt Chinese officials can openly flaunt their money. Money that at its core, represents a theft of wealth from the Chinese people, the majority of whom still have an average income of around $10,000 Canadian a year — or a fifth of what the average Canadian earns.”

space889
Member
space889

So why aren’t Canada deporting them to China? It’s not like China doesn’t want them back, and have nicely prepared jail cells for them as well.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Because, unfortunately, China includes on its “Wanted” list artists and other creatives and political dissenters of all kinds, and so Canada has to spend a ton of money sorting out which are the genuinely dishonest types from the political dissenters before sending them back. Canada should sue China for wasting its time and money.

Best place on meth
Guest
Best place on meth

That’s why it’s best not to let any come here in the first place, unless they’re bonafide dissenters.

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

The 20 cities around the world with the most billionaires
http://www.businessinsider.com/cities-with-the-most-billionaires-2016-2
http://static3.businessinsider.com/image/56cf12b12e5265ba008b9723-1200/.jpg

1. Beijing
4. Hong Kong
5. Shanghai
7. Shenzhen
9. Hangzhou

One could argue that Vancouver deserves to be on this list as many of these very same farmers turned billionaire “Earls”not only own estates here, but also have offspring living here full time while attending school.

ostritch
Member
ostritch
We are so fucked aye? The gap in values as exhibited by that guy posting here all the time is astounding. It’s like he learned nothing at UBC aside from how to get a job. The hallmark of a modern educatjon isarguing moral equivalency as if using money to buy anything you want becomes equivalent with true freedom like being free from a tryannical government ie: Beijing and all these runaway Billinaires running not only from their government but their countrymen. They could keep capital onshore and participate In steadying an uncertain future but they don’t want to. They coukd help smooth the costs of the credit bubble correction. They choose to escape with whatever they can, and in a final ironic twist, the vast number of their countrymen doing the same thing puts them at the same risk here… Read more »
patriotz
Member

The ranking is faulty because it compares Chinese “cities”, many of which are the equivalent of states or provinces, with traditional cities elsewhere. For example the Bay Area was reported to have 71 billionaires in 2014 and surely has more today.

ostritch
Member
ostritch
ostritch
Member
ostritch

Bull,

They say these uber rich kids are perfect fodder for reality TV but really it’s perfect fodder for more Chinese to want a piece of what they’ve got.

paulb
Member

New
294
Sold
169
TI:8502

http://www.paulboenisch.com

888888
Guest
888888

How long will it be until this happens in Vanncouver.We need leadership Chrusty. http://www.scmp.com/news/hong-kong/article/1234063/former-beijing-official-lu-ping-sounds-warning-influx-chinese

Best place on meth
Guest
Best place on meth

“Shut it down will still be a worthless prick” party tomorrow!!

Shut It Down Already
Guest
Shut It Down Already

I’m sorry the stats have disagreed with you for so long. I truly am. Insults are all you have left, so I’m happy to tolerate tour attempts. Have fun!

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Shut, don’t you realize we’re past all that?

It’s no longer an argument between bears and bulls. Rather the argument is over how to get rid of those of the nonresident foreign owners who have no commitment to the people, land or values in Canada and who in some cases are laundering money obtained illegally.

Whistler or Bust?
Guest
Whistler or Bust?

Let me get this straight…

Space hacked the voting so it was scrapped and his BS had to be read by all. Now he represents 25% of all posts and has driven away a lot of good posters with his mindless prattle, racist crap and taunting.

Why is he being tolerated? A few years ago there was good information exchange on this site. Now it is just another uncontrolled internet swap and we are allowing it.

I very rarely check in now (about twice a month) I used to go on every few days. Lately things have gotten noticeably worse.

You guys really should do something about him.

Pope – I think you lose a lot of potential clicks with him controlling the board.

Chinabuyeverything
Guest
Chinabuyeverything

Is this not an indicator of the market in general ?

Best place on meth
Guest
Best place on meth

It’s an indicator of the locust mentality in general.

Infiltrate, degrade, destroy, take over.

Just like the strata.

Chinabuyeverything
Guest
Chinabuyeverything

Something that is amazing. My iPhone can use my thumbprint to login. Wow. I can’t build that technology.

Something not so amazing. People flipping houses.

Zero value add.

And which group are we driving out of the city ?

My 2 cents.

Combat roach
Guest
Combat roach

It is organization, spaceshit or Victor Wong is a cover name for multiple 50-cent party posters. They have an office in Vancouver and spread the shitholle propaganda among local citizens with some help of local collaborators who get money in return or access to massage parlours in exchange for support.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I dread the thought of what they are likely doing in local Chinese language newspapers. Things have changed for the worse in the past year.

http://www.nytimes.com/2015/01/05/world/chinas-maoists-are-revived-as-thought-police.html

Shut It Down Already
Guest
Shut It Down Already

You’re blaming space for all the “racist crap” here? Get a grip. He only appeared once Pope had allowed the racists to take over.

What value did that post of yours add, by the way? (No, not the one where you announced you were leaving – the other one)

888888
Guest
888888
Oracle
Guest
Oracle

Don’t worry. Space is being monitored by the USA.

When there is a war between China and the USA, you can be rest assured that he and his relatives will be promptly rounded up.

He would be considered a threat to the west.

Space, don’t you realize that Canada is a British country and people are upset about the Asian invasion caused by a few groups in power.

Only thing that is going to stop this madness is a rise of an anti immigrant party.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

The only way to stop this madness is to get different people into government at the provincial level and to change the tax laws.

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