Usually we post this as a Friday Free-for-all, but we’re a day late this time.
It’s our open topic discussion thread for the weekend!
Here are a few recent links to kick off the chat:
–Post-tax foreign buyers 1.3%
–Housing market problems
–CMHC issues warning
–Whats the magic inventory number?
–Real estate trends
–No rate cut for Canada
–CMHC plays catch up on warnings
–
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!
“Increased immigration is good for Canada”
Yea right, we are letting in too many “immigrant of convenience” and “housewife” that puts a burden on our social system!
McCallum going to double the number of immigration offices in India. He will be there in 2 weeks.
425,000 is the 2017 target for perm immigration Im hearing.
800,000 10 yr visas to be issued in 2017
200,000 new students in 2017
50,000 Supervisas for 2017
? TFWs
You left. Why are you back?
You are a liar, by your actions for all to see.
No integrity, no problem, no honour.
Free Tibet…
Free Richmond!
We should plaster all our surfaces with Free Tibet signs.
Any idea where someone can get a lot for cheap?
Zhengzhou
http://citymetric.com/horizons/chinas-most-polluted-province-isn't-beijing-1760
not sure though if they have a foreign buyers tax
Sort of what Vancouver will look like if McCallum keeps bringing them in.
Ah fuck it
Drama queen.
link not working, but let me guess: it’s a shit hole?
China?
Yes.
You will never find “Free Tibet” signs in China, I’m afraid. I’m sure if someone made such a sign he would go to prison. If you flew in a plane to China and had some “Free Tibet” bumper stickers in your suitcase, they would be confiscated, no doubt. Any people from China visiting here: I dare you to say something on this blog to prove that what I just said is not so.
Any idea where someone can get a lot for cheap?
I was afraid formatting would get screwed up.
Sales show a different story with large variation year to year.
Year Detached Apartment Total
2016 12,842 15,666 28,508
2015 13,367 13,385 26,752
2014 10,877 10,183 21,060
2013 8,881 8,820 17,701
2012 8,175 8,568 16,743
Average 10,828 11,324 22,153
Total Jan – Sep sales in 2016 are 170% of 2012 sales.
Conclusion: Inventory numbers are driven entirely by cumulative sales. The current low inventory does not necessarily indicate current or future bullish conditions, but rather reflects past sales activity.
Apologies for formatting. This post expanded is more readable.
Conclusion: The current low inventory does not necessarily indicate current or future bullish conditions, but rather reflects past sales activity.
Thanks genius. Perhaps you could amalgamate your gibberish into one post and then not post it.
Be Careful using REBGV “New listings” data. The same listing is often “new” many times over.
Our rental has now been listed as new in July, September, and October.
If the government would regulate the real estate industry even mildly, this is the one aspect i’d like to see changed. Is it just me. or is this Days on Market deceit somehow “unprofessional”?
Yes, i burst out laughing too when i typed the “professional” part.
Coquitlam, B.C., police are investigating after a condo annual general meeting that had “gotten out of hand” culminated with RCMP officers dragging two senior citizens down a flight of stairs.
http://www.cbc.ca/news/canada/british-columbia/coquitlam-rcmp-officers-1.3827314
Im surprised they didn’t get tasered, they look like crazy gangsters
Ozzy Jurock reporting early sales numbers for October as of today.
Detached sales down 71% yoy
Attached sales down 46% yoy
The slaughter continues. Imagine what that would have looked like without the CMHC rule changes which pulled lots of sales forward in mid October. It only gets worse from here now the new CMHC rules are in place and another 20% of buyers are priced out and another 60% of buyers will pay a higher rate or be forced into a 25 year amortization (higher payment and lower qualifying amount either way).
does anyone know if people were able to get pre-approved before the mortgage changes, but can wait up to 6 months to actually buy? Like how a broker would hold a rate for you.
I know 6 months seems long and it’s typically 90 days, but I heard through the grapevine that some lenders recently started offering rate holds up to 6 months. I’m just not sure if they are qualified at the time they agree to the rate hold or at the time of actual purchase date. In other words, could we have sales pulled forward for a few more months?
“I heard through the grapevine that some lenders recently started offering rate holds up to 6 months.”
You must still qualify under the new rules for any CMHC insured mortgage. It is not up to the lenders. CMHC makes the rules for all insured mortgages. Unless the subjects were removed as of Oct 17th the new stress test rules apply to all CMHC insured mortgages.
Anything pre-approved now is under the new rules. Anything pre-approved prior to the CMHC announcement is void and must go through new approval process.
“Anything pre-approved prior to the CMHC announcement is void and must go through new approval process.”
This is what I was wondering. Did you actually see it written somewhere that they must go through a new approval process?
Doesn’t sound that way in this article http://www.theglobeandmail.com/real-estate/toronto/new-mortgage-rules-give-an-added-push-to-close-deals/article32534294/
I am 100% sure. From the article you referenced.
As of Oct. 17th, all borrowers who have insured mortgages will have to qualify at the most common rate posted by the Bank of Canada, which is now about 2 percentage points higher than the discounted mortgage rates offered by most lenders.
“Real estate agent Geoffrey Grace of ReMax Hallmark Realty Ltd. says some of those house hunters may push to get a deal signed before the clock runs out. Lenders who provide preapproval for a mortgage typically keep the offer open for 90 or 120 days.
Mr. Grace figures that people who fear they will be affected by the changes are going to have an incentive to pay a little more for a house now rather than risk having a smaller sum to spend if they have to return to the bank or non-bank lender for another round of approvals.”
Article was written 10 days after deadline. The deadline they refer to in the article must be the 90-120 days the pre-approval stays open
I think you’re right. This is from Gov website, and I’m pretty sure a pre-approval isn’t legal binding.
“The announced measure will apply to new high-ratio mortgage insurance applications received on October 17, 2016 or later. This measure will not apply to high-ratio mortgage loans where, before October 17, 2016: a mortgage insurance application was received; or, the lender made a legally binding commitment to make the loan; or, the borrower entered into a legally binding agreement of purchase and sale for the property against which the loan is secured.”
People aren’t using CMHC for Vancouver Deatched. Just informing you. Mortgage changes mean nothing to the buyers.
“People aren’t using CMHC for Vancouver Deatched.”
The people buying the SFH buyers’ condos are.
Disclaimer : ” I, Patriots, work at immigration Canada in Ottawa…”
Wrong again. Most mortgages for detached are 30 year amortizations. Those no longer qualify for CMHC bulk insurance. The choice is the higher payment for a 25 year amortization or a higher rate to keep the 30 year amortization plus tougher to qualify based on the new higher payment for both. In addition a minimum credit score is now required for the CMHC bulk insurance mortgages.
“Most mortgages for detached are 30 year amortizations. ”
Link?
Delusional YVR. He thinks no one has Money than him. LMAO
Wrong. Most detached are mortgage free.
“Most detached are mortgage free.”
Same question as Shut It Down Already’s above: link?
All I know is anecdotal stuff, and I definitely know people who fit the bill of of what Patriotz is referencing (i.e. move up buyers into detached places from condos).
Further, aren’t many of the foreign buyers making use of mortgage borrowing here? I mean, wasn’t there a ton of reporting on this topic just a month or two ago? These people aren’t using the CMHC, but there’s definitely evidence that many of them aren’t close to 100% cash buyers.
In total, 58 per cent of new uninsured loans in 2015 opted for an amortization length of more than 25 years.
Just so it is clear. 58% of all uninsured mortgages are for over 25 years in 2015 (probably higher in 2016). That means 58% of people going forward with 20% plus down will have a larger monthly payment and qualify for less.
That’s for 2015 only – not “all mortgages” by a long shot.
Was this on CKNW?
20 boyfriends and 20 iPhones: How one woman bought a house
Is she sore?
Carney may step down next week.
That Goldman Sachs of shit will not be missed . One of main peeves with Garth is that he would deep throat that banker shit bag at the drop of a dime, but in his defense, you don’t bite the cock that feeds you.
lol
Typical Carney. Start a bubble, then get out just when he thinks it’s going to pop…any moron could do what he does. He just hits the levers until it’s about to bust, then quits
Holy fuck, no wonder whoreacle is posting his sawdust 30 times a day, the Surrey detached market is incredibly bad and he’s panicked.
http://www.vancouvermarketreports.com/intranetimages/coughlinteam/users/1324/STR.Current.m7s.png
20 months of inventory for detached sawdust.
“And so castles made of sand, melts into the sea eventually.”
Hahaha.
Prices barely budging. Continue to nitpick like Garth Turner. Hahaha. Fools.
Can’t wait till your rent priced out in a year or so.
How will you know if we are, turbanator?
You are pathetic, whomever you are….lol
I haven’t drank the loop aid yet
I personally know these developers. Hard working south Asians. Their first high rise. They own a couple of Subway restauarants downtown and also have an accounting firm.
Good for them. I’ll let them know you guys mentioned them.
Are most of those posts even real? It’s a well known business tactic to have fake postings and reviews. Hard working south Asians huh? An Indian, one of my best friends, may he rest in peace, was told by his father to not trust Indians. Damn, I trust south Asians more than that, but given your record for leaving this site and the garbage that comes out of your mouth, I definitely don’t trust you. I’d be weary of any of your friends too.
Freudian slip, meant to say “wary” not “weary”. Probably cause I’m tired of your same old bag of tricks.
I’m not trying to trick anyone. I just post numbers/facts
Like the 450,000 immigrants in 2017? Your sawdust is showing.
No, you just repeat yourself like an obsessed monkey spanker.
I suspect my reality check post won’t be there for long.
“south Asians. Their first high rise.”
Nice, a sawdust house builders first highrise located on Scott Road in a Super Store parking lot. How many you going to buy Oracle? This thing with be Deltas own Leaning Tower.
Why don’t they go and work hard in India, the largest democracy in the world.
They can even open Subways there!
Prices arent going down for condos and townhomes. Get with reality and don’t believe this blog. Sheesh.
Our rental has dropped $40k in list since June. $440, $430, $428, $399.
Have them let the listing expire and offer them 350 with no realtor fees.
Sheesh Oracle, look at the G&M article from the last thread where a REALTOR laments the fact that a few months ago he could have sold the downtown Van condo for $468k (originally $488k) and he had to accept $438k. That’s a 10% decline right there. I thought you were all about facts and not blog dog delusions? I know you saw the post because you’re posting here multiple times a day. A townhouse by Burnaby Mountain Secondary where my wife’s Kindergarten Mummy Friends live is down from $650 to $600. If you know anything about me from your time posting on this blog, you’ll know i’m a bear realist, so why would i make up stats?
Sorry Uksterman, but you are in the clueless camp. You really think these 200 posters are less intelligent than you?
They know the coming immigration numbers.
I never mentioned intelligence, just how informed they are about the current market realities. With the target audience for this development having just had their purchasing power reduced 20-25%, how could you advise anyone that NOW is a good time to buy? Maybe you will be proven correct long term and the coming hoards of wealthy immigrants will push prices to infinity and beyond, but anyone can see a wise buyer would sit the next 6-12 months out until they (being wise after all) figure out where this market is going.
You’re surprised that people looking and commenting on a promotion are interested in it? Who else would look at it? Weirdos like you are a very small minority.
Those posts are obviously fake marketing comments to create interest.
I saw that F.B post as well, baffles my mind.
They kind of push for comments by giving zero information….”Can you send info please” appears to be the only comments I see
I see it because a guy i mountain bike with inexplicably “likes” the pages on FB and i guess that makes them appear on my wall. I’m assuming by liking/sharing the page he has a chance of winning something.
A lot of those posts are from a company hired by the builder to hype the building.
Contrast this to the accepted wisdom
http://www.ocregister.com/articles/london-733708-california-southern.html
Meanwhile, in McCallum-land
http://www.cbc.ca/news/politics/canada-immigration-levels-2016-1.3825548
Where is all this consensus about higher immigration? I dont see it in the general population.
We must be vigilant: they want to reintroduce the business/investment program (aka residence/citizenship for cash)
PS more students? These are not the hardworking types, starting from the bottom to work their way up. These start at the top, buying million dollar condos.
Precisely. And when protectionist Trump wins the election, you can bet that Justine will get in line and Canada will follow like it always does.
It’s the poor cops I feel sorry for. Imagine dealing with idiots like them.
I’m with you on this.The RCMP were called because there was the threat of violence. They identified the protagonists and wanted them to leave – they refused the orders of a police officer. They lay down and refused so the RCMP had to use force. What’s the problem? Oh, they’re old? So what. Obey the law. The officer did everything he could to get the old lady to stand up and walk and she refused. Other than make a special rule “because she’s old,” he had to drag her. One can see the bias in the videographer’s narration: “You’re killing her!” Yeah, right. Totally killing her.
Difficult, aggressive, annoying young people eventually become old people. We don’t have to tiptoe around all elderly people just because they’re elderly.
To me it looked like the two people refusing to walk down the stairs at the request of the police officers were consciously exploiting the public’s reactivity for their own personal gain. What they were doing looked very conscious and deliberate. It looked like they were exploiting their granddaughter as well. I found their behavior not only ridiculous, but offensive and disrespectful to society at large. In subsequent news articles haven’t seen that they are trying to tell their story about their dispute with other condo owners, only that they are trying to spin a story about putative police brutality so that they get sympathy for whatever their cause might be. This is evidence that their cause is not worth supporting.
this is why ill never buy a condo.
I can’t help but wonder what the issue was that caused so much drama.
Happy Diwali!!
Problem is politicians and bureaucrats.
Not me and not the immigrants.
The problem with McCallum’s immigration target is that it is focused almost entirely on China. They are not only the most difficult to screen for qualification, but they’re all determined to settle in Vancouver.
GTA gets loads of Chinese immigrants (although less per capita than metro Vancouver), which is why Harper made a big push in York Region during the election and saved two seats with the biggest Chinese population.
I’m not sure what you mean about focusing the immigration target as Canada does not have quotas by country.
I’ve felt the same way, which is why I bought modest, well beneath my means, in case of a massive correction that I don’t believe is coming. 10% off after 300% gains is negligible. Meanwhile the people who I thought were crazy to go all in on houses are now multi-millionaires, and I am not. Education and sacrifice means NOTHING in Greater Vancouver; if you simply bought a detached home in mid 2000’s or earlier, you’re wealthy. Foreign money has destroyed our society.
people understood the impact of HAM and bought are winning. people who thought it was just hype are loosing. that’s the reality right now.
all of you can speculate what will happen in the future. your track records are well known.
In the Spring you said it was only going to get crazier. It pretty much went downhill from there. Your perfect track record has been tarnished. The people that listened to you earlier this year are being pummelled right now. Your equity is being vaporized as we speak and your perceived wealth is no longer liquid.
Dude, prices are going much higher medium term.
This short term correction Is an opportunity to buy.
Most on this blog will miss this opportunity. And in the meantime will call me a realtor.
Go figure.
Yup the vast majority of people who think they made money will lose it all. That is the way bubbles work. People like Mega Bull and Oracle are actually closet bears. They know NOW the jig is up and but can’t quite admit it yet on this forum. They are pissed everyday their crack shack or sawdust house goes down. It is actually enjoyable to watch these two losers grasp at straws as prices crash. All they have is their house which is now in free fall.
They are both “pros” and can endure any impact due to their long term strategies and understanding of global trends. They are Good Samaritans trying to help us here and get us all on the right track when it comes to living in the most sought after place in entire world.
Since spring the HPI for all types of housing in greater Vancouver went from $815,000 to $926,600.
I don’t know what your definition of pummeled is…
People bought because they needed a place to live. That is the reality.
Let’s wait for the future, shall we?
What is the going $/sqft nowadays for townhomes? A unit in our building just listed at $1.688 for 1722sqft. It’s in a heritage house so the Chinese will not want it (can’t knock it down) and it has a brand new kitchen and HW floors (renovated with insurance money after they burst a pipe while on vacation…probably mould filled hence the sudden desire to sell).
Went to a couple opens today east of Main…. both fixers both dead we were the only ones looking, both had stacks of feature sheets…. was kinda scary no pun intended. These both would have sold over ask a few months ago with multiple offers. The wind is blowing the other way
I’m just waiting for Oracle to reply claiming you’re making this all up for shits and giggles.
Not really. I’m just here to time the market properly for myself. I tell you guys the facts but you guys turn around and think otherwise.
Survival of the fittest. Those without houses are way behind. That is a fact. Like it or hate it.
People that own houses are loosing money by the second. People that don’t own houses are watching sales prices get better and better.
So you’re here for yourself? You’re just spouting the same thing over and over for yourself? Would be more efficient to just talk to yourself at home. I don’t mind you here though, great entertainment value.
Right…off course…how can anyone argue that sitting on the sideline and being a Vancouver housing bear hasn’t worked out so well for the bears…
“I’m just here to time the market properly for myself.”
You started building a house at peak. Now you are stuck with a half built soggy sawdust house. Good timing! LOL.
Update on the international student at Seycove High School, that threatened the teacher and had a gun. The student is from…..drum roll….CHINA. I know a student at the school.
Apparently the issue was due to the student showing up to gym class stoned and the teacher making him run laps as punishment.
well, how can you be surprised when there are so many role models to learn from in Canda like:
http://www.mcgilldaily.com/2013/04/students-confront-teacher-accused-of-death-threats/
Oshawa student charged with threatening to kill teacher over failing grade
Three B.C. teachers temporarily suspended over ‘Jar of Death’ punishments
Canada: Adult Muslim migrants enrolled in high school, sexually harass teen girls, threaten teachers, cheered jihad massacre
Dalhousie medical student threatened to kill up to 20 people, police allege
Student facing expulsion reportedly confided in psychiatrist, leading police to several rifles and 1,800 rounds of ammunition.
Big Day tomoro.
McCallum announces new immigration targets Monday. Told you guys. Enjoy.
http://www.cbc.ca/beta/news/politics/canada-immigration-levels-2016-1.3825548
Record amount.
Look at the graph. Close to 2,500,000 immigrants over the next 6 years. About 500,000 will settle in Vancouver. This doesn’t not include students etc.
Rents gonna skyrocket. Gonna start looking to pick up a place with suite this coming week.
Hey Oracle, I asked you before and shall do again. Let’s say everything you say is 100% right or even worse, not only 500K immigrants settle in Vancouver but 3M of the richest Asian and mostly Chinese immigrants come over in the next 5 years. What the fuck are we supposed to do??? Tomorrow, next week, month, year… Just tell us, c’mon don’t be shy?
Just accept the fact that we will be the majority here
Thats great we will need lots of Uber drivers in the coming years.
Facts are facts regardless if they are accepted.
And you do you care if we don’t accept them?
So tell us again what you are here for?
typo – Why do you care if we don’t accept them?
Maybe it galls him to see a people and a way of life commit suicide ?
Excellent, fact accepted. Is there anything else you would like to say? If not, please get back to your decision about abandoning the VCI. Be a man and keep your word.
You told us and told us and told us and told us and told us and told us and told us and told us and told us and told us and told us and told us. Still doesn’t make your sawdust worth more, keep trying though.
The vast majority of immigrants are poor, low skilled, ESL. You know cab drivers, cleaners, berry pickers and nannies. After 10 years they may graduate to dump truck driver or cook. Just like you they live 30 to 40 per house. None can make enough to save for a 5% down payment in their first 10 years. Will not impact housing prices one bit. Last time I checked housing prices are going down but immigration hasn’t stopped.
Cab drivers, eh? Immigrants are more educated than the locals when it comes to sciences and engineering:
http://www.statcan.gc.ca/pub/75-006-x/2013001/article/11874/immi-eng.htm
“In Canada, immigrants represent a significant portion of the population with a STEM degree. In 2011, 46% of university-educated immigrant men aged 25 to 34 had STEM degree, compared with 32% of their Canadian-born counterparts (Chart A.1). Among female university graduates aged 25 to 34, immigrants were twice as likely to have a STEM degree as the Canadian-born (23% versus 13%).”
There is a difference between having an “education” and getting a job with that education.
we now know that one urban myth is true. Overqualified immigrants do drive taxis – though not all of them are physicians. Many are in fact architects and engineers.
How many taxi drivers are there in total? Now try that again.
These numbers do not represent the educational level of immigrants at the time they came to Canada. Clearly a great many of the graduates came to Canada as children or young adults and then attended university here.
“Finally, of immigrants aged 25 to 34 with a STEM university degree, slightly less than half obtained it outside Canada.”
I see you’ve trotted out that tired old “Mr Nitpicker” costume for Halloween again.
You finally posted something I agree with. I have many immigrant friends I practice language exchange with and assist them with learning English. MANY are highly educated yet performing menial jobs. My experience is most professional organizations have set the bar unreasonably high, preventing them from ‘competing’ with the establishment. A few years ago I met a man from Pakistan with a masters degree in Engineering working at a Shell gas station. They say “his qualifications don’t measure up to our standards.” His masters degree in mining engineering was from OXFORD in Great Britain!!! The professions have their doors closed to outsiders MUCH tighter than any trade union or union in general. But hey, we live in the land of “bash the worker” while the professions figuratively get away with murder.
uhm…finally showing some real colours about how people really feel about immigrants – un-educated 3rd world country bumpkins who should be thankful that they are allowed into Canada to clean your toilet.
It is not about “feel”. It is what it is.
Lol. Naive Caucasian local.
To immigrate these days, you need lots of money. Express entry visa Is the largest Route and u need $$ to pay for the scheme.
No such thing anymore in BC. That program was canceled and Quebec investor class can no longer come here. Not the type of immigrant they will be bringing in anyway. They want labourers to work in the remote oil field camps or to work at Tim Hortons for minimum wage and not complain. Nobody who can afford rent or a mortgage in YVR.
Here is who is coming in and where they will be working.
The net tightens:
China’s UnionPay Restricts Buying of Overseas Insurance Policies
Only accident-, illness- and tourism-related insurance policies are allowed for branded debit-, credit-card holders
http://www.wsj.com/articles/chinas-unionpay-restricts-buying-of-overseas-insurancepolicies-1477799779
Anecdote about more foreign buyers starting to circle around Portland, Oregon. They are here already, but these are the first stories I’ve heard like this:
https://www.reddit.com/r/Portland/comments/59wotl/vancouvers_foreign_transaction_real_estate_tax_is/
There will good numbers for Oct for bears. Esp Westside and West Van. Think big drops in the averages.
You will get a nice opportunity to buy in next year. Will you?
‘Paper lives’: Massive immigration fraud detailed at sentencing
Consultants earned thousands helping Chinese applicants defraud their way to permanent residence
http://www.cbc.ca/news/canada/british-columbia/immigration-fraud-china-canada-1.3826942
To ppl like this, the foreign buyer’s tax is easily evaded.
Canadians are naive and have no clue.
Is it? Give me an example or step by step how to do it.
Ill raise it with my MLA.
You simply put property is a residents name. I know canadians can’t believe this happens but it is standard practice in places like China. It’s not Canadian law that matters, it’s your reputation in an insular community that follows its own rules.
Example:
Multi-million-dollar feud over West Vancouver murder victim’s assets
Zhao and his wife are listed as registered owners of the $5.8-million home.
But according to court documents filed by lawyers for Yuan’s family, Yuan was the person who gave Zhao and his wife money for the house, paid the mortgage and was the rightful owner of the property.
The lesson from this story is giving someone money to buy a house for you in their name is a good way to get yourself killed. Not terribly appealing.
You won’t hear about the thousands of instance where nothing happens.
Canadians are naive. They were in denial about HAM for a decade. They continue to be in denial. This won’t change and that’s why I say buy a house.
So keep being nice canadians, keep thinking that follows the rules is how people get ahead and I’ll keep betting against you and keep making money.
+ 1
(Why doesn’t the voting function only work for some on this site now.)
The other side of the immigrant story.
https://www.thestar.com/news/immigration/2016/10/31/thousands-of-immigrants-quietly-giving-up-permanent-resident-status.html
Thousands of immigrants quietly giving up permanent resident status. The more we import, the more will end up leaving. What is the cost of this boondoggle?
sorry to info you, only the family income earners will give up the PR to earn tax free income overseas, while kids and wife and grandparents to collect MSP and GST and free education in Canada. Then, when they retired, they will come to Canada to collect MSP and low income supplement.
Canada is very nice, She sets them up for live. Better than winning lottery. Suckers.
Maybe you should actually read the linked article before beaking off with your pre-conceived notions.
Maybe you should talk to an immigration lawyer.
You believe in what you read in newspaper? didn’t you read somewhere we bring in investors class to add to our taxable income pool.
Programs like these will benefits a few directors, and officers, that is my pre-conceived notions, but my office is next to a few crown corp with really high profile Politicians as directors, doing this or that public good. These offices have pretty much no traffic, hence very little business hours, but lots of employees.
You pretty much believe everything as long as it is printed on paper. Your reading level stays at the 3rd grade. Did you tell your mom you just finished the Wimpy kid’s Dairy, and except your mom to hug you?
wow you read newspaper.
I believe that article before I believe you or Oracle.
quality comment, i must say.
Yes, you are right. We need more immigration. Hopefully they increase it next year.
We can expect 70,000 people a year to come here at these levels. Not enough. We. We’d 100,000 people coming to Vancouver per year.
Lmao. How much has your house lost in value the last 3 months Oracle???
Be honest now. 80k? 100k? 120k?? You sure timed your new construction well. Buy land and build right at the peak.. but thats ok it will bounce back.. maybe in 7-8years.. hopefully you can subsidize the rent from all the immigrants that will be living in it while you work double shifts to keep your head above the mortgage payments.
Dumbass..
Lucky if your able to hang onto it until things pick back up. Wait until spring when you see the huge drops. If I was you I would pull my head from my ass and sell before you lose all of your capital.
“Lmao. How much has your house lost in value the last 3 months Oracle???”
Oracle gets crowned the “Greatest Fool”. Buys land in the slums of Surrey and builds a sawdust house right at peak prices.
So immigration numbers are as follows:
2017 – 300,000
2018- 325,000
2019- 350,000
2020-375,000
This won’t have any effect on Vancouver and Toronto real estate.
Highest per capita rate in the world. Great people like YVR are liking these higher numbers while at the same time hating high house prices. Oh the irony. LMAO!!!!
Link?
Yes Link?
Liar
Oracle gets it wrong again. Do you get anything right Oracle?
Bought house at peak – crowned greatest fool, losing $20K per month
Predicts 7000 inventory – Inventory ends up 40% higher within a week
Predicts 450K immigrants in 2017 – now forecast to be 300K.
What is your next prediction Oracle? This is hilarious.
The explanation is Oracle’s low IQ.
