You can buy, but you can’t rent

The BC Court of Appeal has upheld the right of a strata corporation to limit rentals in a condo building.

The ruling on Friday states that the strata council of Hycroft Towers in Vancouver’s South Granville neighbourhood can restrict its owners from renting out their suites – without explaining why – because anyone who feels they have been treated unfairly can take their case to the B.C. Supreme Court.

The dismissal of the appeal reinforces the right of strata councils to stop rentals in their buildings, a tactic that experts say might be creating more pressure on the region’s extremely tight rental market.

The case centred around a family that began renting out one of the three units they owned at Hycroft Towers last September – despite an earlier rejection of their application to expand the rental pool in the building by the strata council.

The family argued that, under the province’s strata laws, the council must also provide the criteria by which it grants permission for owners to rent their units.

However, Justice Gregory James Fitch ruled that it is “difficult to imagine that an acceptable screening criteria for administering the rent restriction cap [such as the ‘needs-based’ system proposed by the appellants] could be devised that would comply with [provincial law].”

Ah, condo ownership, where you get all the bills without the hassle of all the control.

Read the full article in the Globe and Mail.

On a side note, we’ve disabled the inline image rendering in comments. We made it a surprisingly long time before it degenerated into out of control garbage and it was nice to be able to see the occasional graph rendered in a comment, but clearly you people can’t be trusted.

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bullwhip29
Guest
bullwhip29

Data collected by B.C. likely overstate role of foreign buyers: economist
http://www.theglobeandmail.com/news/british-columbia/data-collected-by-bc-likely-overstate-role-of-foreign-buyers-economist/article31384242/

>>>more spin from Cameron Muir, BCREA’s pretend chief economist (not to mention former realtor, data manipulator at CMHC and Kwantlen college alum)

>>>on a similar subject, anyone know who has the inside track on who will be tapped to be new superintendent of real estate brokers? surely, it will be someone in the the family…

Oracle
Guest
Oracle

Just experienced an blatant case of racism yesterday. Had a relative on a ten year visa wanting to extend his stay. Had to go to the airport to the Japan Air Lines counter.

Relative wears a turban and beard and dressed in Indian clothing. The Asian ladies at the counter said ” we busy wait 30 minutes” without making eye contact. No one else was in line and they continued chatting amongst themselves.

They did not want to serve us. Anyways, had my phone recording video so I will post on YouTube

The racism displayed by Asians to Indians is something to behold. This will cause issues in the future.

trackback

[…] –What record low rates mean for savers & economy –Repeal foreign buyer tax –Housing intervention could sideswipe economy –Vancouver drop in building permits is countrys biggest –How the market could affect banks –Realtors mix business with condolences –The crackdown on smurfing – […]

bullwhip29
Guest
bullwhip29

Stunning 97-year-old West Vancouver character home may be demolished
http://globalnews.ca/news/2878778/stunning-97-year-old-west-vancouver-character-home-may-be-demolished/

HAMster
Guest
HAMster

Paid $523,000 for this in 1994

bullwhip29
Guest
bullwhip29
Kim
Guest
Kim
Oracle
Guest
Oracle

You Caucasians have no idea what your future is going to be like in Metro Vancouver.

In China, they don’t even give a rats ass about a homeless single women with daughters. Guess what the mom has to do for some $.

It’s coming here. Just watch.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Learn Mandarin!

yvr2zrh
Member
One last post – – I’ve done some quick analysis on the Rob Chipman daily stats. Here is a quick summary. We are currently showing that in his data population, the trend is as follows: 1.) Unit sales down 34% from July 2.) Average price per unit down 24% 3.) Total dollar sales volume down 50%. Trend is getting worse every day. So what we are seeing for sure is a change in mix. The top end has ground to a halt – the low end still is seeing completions happen (probably for many deals that were in process and for people who don’t have the guts or ability to just walk away). It’s interesting to see how the foreign buyer is a bit the catalyst in the market. Without it – there is definitely at least a “wait and… Read more »
LS in Arbutus
Guest
LS in Arbutus

Wow – that’s brutal. This is what happen when buyers exit or take the wait and see approach. That said, the insanity had to stop somewhere. We are at beyond insanity levels. In my opinion, even with a 50% drop, houses are still too expensive for people. Better hope the US doesn’t raise rates… even a tiny bit.

I am going to go google how HK real estate is doing these days now.

OPENHOUSEMASSACRE
Guest
OPENHOUSEMASSACRE

China has essentially outdone the Fed, generating an internal RMB-based credit bubble of monumental size debt rose from $9 trillion in 2008 to nearly $25 trillion today, China have minted more paper millionaires and billionaires ,
Not surprisingly, newly minted mainland tycoons transferred some of their winnings from coal mines and real estate projects to soaring real estate market, believing that prices of luxury condos do, in fact, grow to the sky.

http://davidstockmanscontracorner.com/another-china-crack-ultra-luxury-hong-kong-real-estate-being-dumped-for-cash/

yvr2zrh
Member
Given the level of apparent public frustration with foreign capital coming in and supporting the residential real estate market, do you think there is some appetite to strongly condemn any entity, real estate firm, realtor, government, etc, that is actively promoting the foreign buyer? Think about how the level of frustration increased when people heard the Christy had Realtors tagging along on her Asia junket. If I was a real estate firm – I would very quickly be scaling back my foreign offices – at the risk that the public backlash may start to be directed at them. People believe there is a serious problem – now you firm is actually seen as promoting and exacerbating the problem. Is that what your firm needs? It just reminded me as you look at that Etobicoke “advertisement” on the link below and… Read more »
CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I would support such a boycott if such a list came available.

A strategy for finding such firms would be to find ones that offer services in other languages besides English or French, such as in particular, Mandarin. It makes perfect sense and is commendable for some organizations to offer services in other languages, such as hospitals or counselors. But if a realtor or developer is doing so, this is a sign that he/she is attempting to help sell Canadian owned land to offshore foreign nationals for personal profit. Not proof of course, but the beginning of an investigation.

Kim
Guest
Kim

I would be embarrassed to tell people I was a realtor, if I were one. I see this with people who suddenly start making a lot of money that they feel the need to show off. It just makes people resent you. Better to be anonymous, live humbly, than to show off and have people ditch you. As for attracting a mate, if someone will date you based on what car you drive, that is someone you don’t want to be dating anyway because they will clean out your bank accounts

Mick Murphy
Guest
Mick Murphy

Undercover investigation reveals unlicensed car dealer still operating

A hidden camera investigation has revealed that an auto dealer who had his licence revoked and was ordered to stop selling cars was still trying to sell on Craigslist.
Arthur Tong, 69, was stripped of his dealer’s licence in May for admitting to rolling back odometers on 39 vehicles and then selling them on the classifieds site Craigslist.
Two months after the hearing, he tried to sell a vehicle in Richmond to an undercover crew from CTV News.

http://bc.ctvnews.ca/undercover-investigation-reveals-unlicensed-car-dealer-still-operating-1.3003771

Combat roach
Guest
Combat roach

Not sure why federal government even bother with visas for Chinese citizens. They should entirely cancel it and give them all some sort of permanent PR status as soon as they come in Canada. Even passport shouldn’t be required but driving licence or Chinse care card.

Oracle
Guest
Oracle

Lol. Yeah, most of the population doesn’t know what this means.

The lower mainland is guaranteed to become majority Chinese now. Even voting in a new gov can’t take away visa. When the race riots start, no one will take the blame.

And yeah, I do think this winter will be the last time a working class person will be able to afford a townhome in the valley.

This is going to get real ugly come spring next year. Not the already high house prices but SKYROCKETING RENTS detached from incomes. Rich permanent tourists and wealthy foreign students will pay whatever it takes to rent.

yvr2zrh
Member

Oracle, your logic is flawed.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I think I’m going to have to stop reading this blog right before bedtime. You guys are giving me nightmares.

Best place on meth
Guest
Best place on meth

Not surprising.

New Coast Realty, despite being under investigation for fraud, is not only still selling real estate but they’ve now expanded into immigration consulting for mainlanders.

Bob
Guest
Bob

They should start providing birthing services too. Maybe the junior agents can double as midwives.

Oracle
Guest
Oracle

hey, its your politicians allowing this.

chinese are just taking advantage of the loopholes given to them.

yvr2zrh
Member

True true – – But if the frustration gets any louder – changes will be a comin . . . as we have already seen happen. The level of frustration and anger is very high right now . . .

Oracle
Guest
Oracle

I’m beginning to think that this next lull in prices will be the last good time to buy in the lower mainland. Trudeau and MCCallum just said they were going to increase the number of Chinese ten year visas and abolish the visa system for Mexicans.

Last year = 400,000

2016, 2017, 2018 total = 1.5 million??

This is going to out tremendous pressure on rents. And then the Libs will say they have to give PR to all these people.

I’m surprised the local Caucasians aren’t fighting this. Your way of life here in metro Vancouver will abruptly be over within a decade.

Wait until us Asians have a voting majority. Then you will see how birds of a feather flock together

Kim
Guest
Kim

Caucasians are too blinded by the love for Trudeau to care.

Combat roach
Guest
Combat roach

Caucasians still enjoy RE price growth and live illusion of being well to do (loaded) with a little help of “some accidental foreigners” who happened to be all Chinese who made and brought money we all know how. Give it time until “those foreigners” start to exercise the power of ownership of everything and become “sensitive” on their ROI. At that point life becomes hairy.

paulb
Member

New
149
Sold
114
TI:9424

http://www.paulboenisch.com

Oracle
Guest
Oracle

Thanks Paul.

Is there anyway of knowing the Detached/Attached/Apartment breakdown?

Number of $3 million + properties sold??

If less detached selling then the trickle down effect in the valley will be greatly reduced.

Best place on meth
Guest
Best place on meth

Leave the man alone for god’s sakes.

He gives enough already.

yvr2zrh
Member

Agree – He is not here to be the place for us to make database input queries . . He drops a simple stat every day – the same way – and leaves it at that . . . Be glad we are sub-120 per day – That’s a key level. The market will start to have serious issues when we are sub-100.

Shut It Down Already
Guest
Shut It Down Already

When will the 15% foreign ownership tax start impacting the stats then?

Kim
Guest
Kim

China is printing lots of money.
Their yuan will soon become worthless.
sell everything.
http://www.cnbc.com/2016/08/05/equity-sell-off-next-year-as-china-starts-printing-money-says-this-swiss-bank.html

Zero Down Forty
Guest
Zero Down Forty

Like which nation hasn’t been creating money since the 2008 crisis? Money has lost it’s value the whole world wide.

Those holding money have lost out. Those holding assets have done well.

Where have you been, Rip Van Winkle?

patriotz
Member

You mean those selling assets. Remember bubbles reward sellers at the expense of buyers, not owners at the expense of non-owners.

Best place on meth
Guest
Best place on meth

Hopefully their currency becomes as worthless as their culture and people.

BubbleTea
Guest
BubbleTea

Agreed.
From a Sam Cooper Tweets a couple of weeks ago: Only someone with no understanding of finance would cite QE as vanre driver wout realizing China created so much money that investors are racing to get that Monopoly money out of China and into hard assets, before it loses half its value.

patriotz
Member

Those hard assets are being sold in hard currency, not China’s Monopoly money. It’s China’s exports that are putting hard currency into the hands of Chinese, not their own money printing.

Kim
Guest
Kim

http://www.sfgate.com/technology/businessinsider/article/Palo-Alto-is-affordable-to-only-Joe-9135198.php#photo-7538085

Palo Alto affordable only to Joe Millionaire.
Note the use of “median” home price of 2.5 million (USD), whereas we like to pump up our home prices by the use of “average” prices.
Of course to the majority of people who are scared of math, it’s all the same.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Palo Alto has been expensive for awhile. But of course not like it is now. I wonder what the students do. Many are scholarship students or need based financial aid students.

patriotz
Member

Stanford, a private university, charges $45,729 a year in tuition. If students can candle this, accommodation is small change.

Kim
Guest
Kim

Stanford also gives a lot of scholarships. They have a huge endowment fund that just pops out dividends so they can fund their students. Unlike cheap ol UBC

Kim
Guest
Kim

PRICE DRASTICALLY REDUCED…..INVESTORS, BUILDERS ALERT. EXCELLENT FLAT CORNER LOT, 5749 sq.ft. in prime Marpole area.

2.25m for a tear down on Hudson street.

Haven’t been paying attention to the market lately but have prices really come down?

Newcomer
Member
Newcomer

Was assessed at 1,915,300 last year.

Kim
Guest
Kim

Another realtor lie.

OPENHOUSEMASSACRE
Guest
OPENHOUSEMASSACRE
Diadora
Guest
Diadora

Corruption in China is so bad that the Chinese police ask foreign News to expose corruption in China.
https://www.youtube.com/watch?v=OT4v3m99IEA
And we want to open the floodgate to more corruptions!

Kim
Guest
Kim

Our snowboarder PM is in way over his head.

Madashell
Guest
Madashell

(John McCallum) In meetings Tuesday with China’s vice-minister for public security, he nonetheless discussed further “co-operation on this kind of thing, in terms of working with their people on facilitating the return of some [suspected fugitives] without having an extradition treaty.”
http://www.theglobeandmail.com/news/world/ottawa-pushes-china-to-boost-visa-application-sites/article31328849/
What? No extradition treaty! Doesn’t look good for Michael Ching and thousands others hiding in their million dollar mansions.

Combat roach
Guest
Combat roach

Bad combination, senile fart with limited reasoning power and inexperienced rookie focused on self-promotion.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

His background does not seem very broad: economist (not sure what area of focus), banker, executive. Also no indication of any deep familiarity with BC. I am concerned.

MikeS
Member
MikeS

Apparently he taught at SFU, so he would be somewhat familiar. It was a while ago, though.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Junior faculty member trying to get tenure, probably working all the time and didn’t get around.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

It is a positive thing though if he is trying to find a way to send actual criminals (not merely political dissenters) back to China, if they are people who are laundering money in BC.

Best place on meth
Guest
Best place on meth

McCallum is a sellout piece of shit, and he’s selling us out to the worst people on earth.

patriotz
Member

Foreign buyers snap up Etobicoke house

Well that didn’t take long. Story sounds a bit contrived though.

Combat roach
Guest
Combat roach

Shit just got temporary shifted to the east but consequences for entire Canadian society will be devastating. Those termites are restless.

southseacompany
Member
southseacompany

“What record low interest rates mean for savers, economy”, Globe & Mail
http://www.theglobeandmail.com/globe-investor/investor-education/what-record-low-interest-rates-mean-for-savers-economy/article31376402/

“Record low interest rates were meant to be a temporary response to the global financial crisis.”

“But eight years later, rates are still near zero or even below in much of the developed world, and some experts are warning of long-term side effects: a hit to pension savings, pressure on banks, and possible booms and busts in stock markets and real estate.”

realist
Member
realist

OK, humour aside: “Baroness Altmann Blasts Bank of England for Pushing Pension Schemes “Over the Edge”: BoE Admits the Risk”, from Mish Shedlock:
https://mishtalk.com/2016/08/11/baroness-altmann-blasts-bank-of-england-for-pushing-pension-schemes-over-the-edge-boe-admits-its-true/
“Baroness Altmann, a UK pensions expert, was brought into the British government in 2015 by David Cameron, then prime minister. The baroness now warns the Bank of England’s QE strategies have pushed pension schemes “over the edge” because of declining yields.”

“The Bank of England essentially agrees, stating that it “fully” recognized that a long period of low interest rates put savers in a “very difficult position” which could result in bigger institutional savers moving to riskier assets. Nonetheless, the Bank of England says it will not change anything.”

realist
Member
realist

The best-fit metaphor is a funeral procession to the monetary cemetery. To be interred in approximately this order: pension funds, insurance companies, the bond market, governments. Joker in the procession: the stock market. Date of death: uncertain.

LS in Arbutus
Guest
LS in Arbutus
I have a few thoughts on why it probably doesn’t matter if interest rates go up or not and why the bubble will burst regardless. I believe a lot of people are financing their lifestyles by borrowing equity from their homes. I once had a friend call it “living the LOC lifestyle.” (Living the Line of Credit Lifestyle). It is damn expensive to live in Vancouver, particularly if you have kids, and you have to make a pretty good family income and I would throw out $150,000 gross to just make ends meet. Of course some people are better or worse with their money. But, my experience, 50%+ of people are not good with their money including getting themselves WAY into debt. So if you’re sitting on a house that you paid $750,000 for and it’s now valued at $2… Read more »
Kim
Guest
Kim

I’m sure all the fancy cars are leased. I’m a physician and I know one new grad who wanted to pay 2300 a month to lease a luxury car.

Debt will destroy us all. Make sure you don’t have debt. I’d much rather take the bus and be financially independent at 35 than buy useless crap that nobody cares about

Newcomer
Member
Newcomer
If I knew how to hack the system, I’d give this 20 up-votes. I might mention that I own a company in Seattle and telecommute from here. My employees in Washington state telecommute from the suburbs of Seattle (on most days, there is only a shared receptionist at the downtown office). One employee is actually working from Japan at the moment. I guess I also represent the flip-side of this phenomenon, in that modern conditions allow me to live here on money earned elsewhere, but the low cost of living relative to the amenities is what brought me here, and if that changes too much, I will just leave. On the HELOC thing, I know many people who are doing this. My guess is that, even if the bank were OK with it, most people will stop borrowing when their… Read more »
squeak
Member
squeak

So in these times, the smart thing to do is to quit working as a MD, teacher, nurse, police/fire man, potgrower and just sit on a house and just sit. It pays better. The system rewards you for sitting on the butt.
Yeay Canada.

patriotz
Member

” most people will stop borrowing when their house loses value ”

Unlike those on this forum, most people don’t follow the numbers and only find out prices are falling when they hit a bump such as being turned down for a HELOC.

Newcomer
Member
Newcomer

What about assessment time?

patriotz
Member

Yes I think some will pay attention, but a lot of people don’t give them much credibility (“my house is worth more than that”), plus there is a time lag back to last July.

DaMann
Member
DaMann

Agree about people living off of HELOCs. Have a friend who finances everything with a LOC. Both brand new cars and their last few trips have been from their HELOC. They don’t actually pay for anything. It’s all bought with debt.

Boombust
Guest
Boombust

We just returned from a camping trip to both Manning Park and Osoyoos; the number of HUGE trucks, trailers and motor homes (all new and top of the line) makes me think the “wealth effect” is in full swing. I am quite certain many of these people have borrowed heavily against their homes to finance all of this stuff.

Time to go
Guest
Time to go

I often think that driving/biking around Vancouver. Does everyone make that much more than my partner and I? I We would be considered above avg. CND salaries in the 160k range.

Kim
Guest
Kim

It’s not just how much you make, but how much you spend.

I used to think it’s how much you make that determines wealth. That is only one half of the equation. For example, I make more money from my investments (not real estate, although I have some REITs) than I do in my real job as a physician. Made over 100K last month due to gyrations in the stock market and knowing when to buy. This is not including dividends which are really the tried and true of building wealth. I could never make that much as a family doc. (Of course, I could just as easily lose 100K)

squeak
Member
squeak

??

bullwhip29
Guest
bullwhip29

as a global economic power, canada (and vancouver) is a blip on the map compared to japan. if anything, we are becoming more and more like mexico every day. the middle class will get wiped out in due course largely because of the many points you already covered. the rich and uber wealthy that have moved here (and plan to come here) wont be affected by any of this as they sit on their decks and watch life go by. in the not too distant future vancouver will consist of priceless gated palaces on private winding roads/beaches which arent publically accessible anymore and a whole bunch of apartments (HK style) which will eventually succumb to the elements and years of wear and tear and turn into slums.

squeak
Member
squeak
It seems it is going that way. Housing is out of reach for young and professionals in Vancouver/Island/Fraser Valley. Just looking at what the streets look like is telling: Humans sleeping on the streets, tent cities springing up, shootings like no tomorrow in Vancouver area, drug trades, corrupted politicians, and yes, areas being cordoned off by limiting access as in you cannot seem to be able to park anywhere anymore, overzealous parking police, people begging for money left and right, numerous scam phonecalls, a media that is a joke, yes pokemon is very important to report on , isn’t it? Mismanaged economics = social crisis = becoming 3rd world. As far as I can observe, Canada has gone backwards, not advancing. I think some Canadians have gone into survival mode instead of having a somewhat decent lifestyle, which may be… Read more »
bullwhip29
Guest
bullwhip29

first it was pt grey road closure, next it will be others maybe even entire upscale neighborhoods. then the beaches get sold off to the highest bidder and become members only hangouts…

squeak
Member
squeak
People here are being systematically shut off from the land. They do similar garbage out in Victoria area as well: doing “work” on trails that are leading water/park land (that happen to have private homes neighbouring), hindering people to access beaches and some trails. I know house owners in west vancouver did that to beach access signs (growing ivy on signs, kicking them over), a water front property owner planted a huge boat on the beach hindering commoners to access the rest of the beach which was public land. Also, the one last “affordable vacation option for many Canadians “camping” has also been limited as they (gov) shut down a few thousand sites, in addition to some tour companies (new) bought up or rather reserved campsites like scalpers and selling these spots to foreigners thereby stopping regular joes to have… Read more »
space889
Member
space889

And if only we can get rid of the evil Chinese locust then all these problems will be solved! Yah…kumbanya, kumbanya….everything will be all bright and right again!

Newcomer
Member
Newcomer

… and gangs on motorcycles will terrorize people in their search for “guzzolene,” with scores settled in the Thunderdome.

Combat roach
Guest
Combat roach

Does it sound like a national civil war in making?

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName
If it starts in the U.S. it will move here, no doubt, mutatis mutandis for Canadian content. The housing crisis is destroying neighborhoods and quality of life for the middle class that otherwise would protect us from such chaos. Let me give a clue what I mean by quality of life: Does your landlord want to partner with you or exploit you? Does your banker want to partner with you or exploit you? Does your yoga instructor want to explore spirituality with you or make money off you? If you are a student, does your university consider you a human being or a product? If you are an instructor, do your students think you are their teacher or a tool? Does your neighborhood grocer want to sell you food for a reasonable profit or does he want to grow his… Read more »
Best place on meth
Guest
Best place on meth

Japan doesn’t have immigration.

Newcomer
Member
Newcomer

In 2010, the number of foreigners in Japan was 2,134,151. There were 209,373 Filipinos, 210,032 Brazilians, mostly of ethnic Japanese descent,[3] 687,156 Chinese and 565,989 Koreans. Chinese, Filipinos, Koreans, and Brazilians account for about 69.5% of foreign residents in Japan. Of all foreigners in Japan, 7.5% are spouses of Japanese nationals.[4]

a recent 2015 poll by the Asahi Shimbun found that fewer people (34%) oppose an expansion of immigration to maintain Japan’s economic status in the face of a shrinking and rapidly aging workforce, while many (51%) people support the an increased immigration.[14]

patriotz
Member

The Koreans are all Japanese born, the descendants of labourers brought in before WWII.

Sellnoworbepricedin4evah
Guest
Sellnoworbepricedin4evah

Agree with everything you said.

Also. Mortgage broker friends have told me business slowed way the eff down after the tax. We will see if it lasts.
As per rates, keep your eye on LIBOR. Which is moving higher…and at 6 year highs.

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

The first “reader” writes so badly that I’m not sure they’re even able to read, and the second race-baiting clown brings up the head tax.

So this is what the 10% who are against the tax are like.

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

Third world, here we come!!

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

“The media has also downplayed the role of the massive intergenerational transfer of wealth taking place between baby boomers and their millennial offspring, the rise of property funds like real-estate investment trusts (REITs), and the over-leveraging and debt-creation behaviour of domestic consumers and local home buyers with the encouragement of the financial system.”

This “reporter” thinks that millennials are the offspring of boomers.

The Georgia Straight is a worthless rag.

MikeS
Member
MikeS

Um, Millenials *are* the offspring of boomers. Millenials and Gen Y are the same group.

Best place on meth
Guest
Best place on meth

Um, where does Gen X fit in, genius?

Take your time with that one.

MikeS
Member
MikeS

Gen X came immediately after the Boomers. They weren’t their children, for the most part.

Best place on meth
Guest
Best place on meth

So the generation that came after the boomers aren’t their children, but the generation that came after that are.

Makes perfect sense.

MikeS
Member
MikeS

I’m trying to get your point. I was born in 1984, making me a millennial. My folks were both born in 1958, making them boomers.

If Generations usually come in 15-25 year chunks it makes sense that their kids aren’t in the immediately following one…

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

The thing is, the time periods are very different. Boomers are a long time period, a full generation, but Gen X and Gen Y are not each a full 20 years, but closer to 10 each. Boomers are delineated by historical events that had big economic effects (via the large numbers of babies at the end of WWII) whereas Gen X, and Y are delineated by any economically significant events. Rather they are delinieated more loosely, based on style and spirit of the times.

Combat roach
Guest
Combat roach

Both of their facial expressions – priceless.

southseacompany
Member
southseacompany

“‘Major exports headache’ could force Bank of Canada to cut rates again this year: Nomura”, BNN

http://www.bnn.ca/major-exports-headache-could-force-bank-of-canada-to-cut-rates-again-this-year-nomura-1.543726

“Canada’s perennially disappointing exports could force Bank of Canada Governor Stephen Poloz to cut rates again this year, according to the economics team at Nomura”

bullwhip29
Guest
bullwhip29

medium to longer term the loonie is headed back to the mid 60’s. many canadians will be left wondering why both home prices didnt crater and cost of living increased by double digits. unfortunately many will end up taking it on the chin. this new foreign tax actually gives poloz and co more leeway to keep rates low for longer (or start a new round of cuts)

patriotz
Member

“this new foreign tax actually gives poloz and co more leeway to keep rates low for longer (or start a new round of cuts)”

Vancouver is nowhere near that important in either economic or political terms.

Newcomer
Member
Newcomer

You can’t have both. If the cost of living goes up people have less money for mortgage payments.

Kim
Guest
Kim

Absolutely right. Dollar will get destroyed. Doesn’t matter that you are a millionaire when you are holding the northern peso. Hey Zimbabwe had a trillion dollar bill. Wonder how their house prices are doing

southseacompany
Member
southseacompany

“Housing intervention could sideswipe Canada’s economy, warns CIBC economist”, BNN

http://www.bnn.ca/housing-intervention-could-sideswipe-canada-s-economy-warns-cibc-economist-1.543842

“In a research note published Thursday, CIBC Chief Economist Avery Shenfeld said cracking down on the sector which accounts for the largest portion of domestic GDP could put the brakes on what tepid growth the Canadian economy currently boasts.”