Weekend Free-for-all!

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!

Sort by:   newest | oldest | most voted
BubbleTea
Guest
BubbleTea

“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!

Oracle
Guest
Oracle

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

Slava
Guest
Slava

You left. Why are you back?
You are a liar, by your actions for all to see.
No integrity, no problem, no honour.

history
Guest
history

Free Tibet…

Best place on meth
Guest
Best place on meth

Free Richmond!

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

We should plaster all our surfaces with Free Tibet signs.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Any idea where someone can get a lot for cheap?

franko
Member
franko

Zhengzhou
http://citymetric.com/horizons/chinas-most-polluted-province-isn't-beijing-1760
not sure though if they have a foreign buyers tax

franko
Member
franko

Sort of what Vancouver will look like if McCallum keeps bringing them in.

franko
Member
franko
franko
Member
franko

Ah fuck it

Shut It Down Already
Guest
Shut It Down Already

Drama queen.

Bag it and tag it
Member
Bag it and tag it

link not working, but let me guess: it’s a shit hole?

Best place on meth
Guest
Best place on meth

China?

Yes.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

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.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Any idea where someone can get a lot for cheap?

No Money Down
Member
No Money Down
I don’t know if there is a magic inventory number. But I have been scratching my head why inventory has been so low over the last year or so. Is it reduced listings or higher sales? The nice people at REBGV published cumulative new listings and sales. New listings are (I believe) simply the total of all new listings. I have compiled the Jan-Sep numbers for Detached and Apartments going back to 2012 (as far as I can go): Total New Listings (Jan to Sep) Year Detached Apartment Total 2016 22,553 19,511 42,064 2015 19,671 20,667 40,338 2014 19,522 19,503 39,025 2013 19,400 18,486 37,886 2012 21,115 20,903 42,018 Average 20,452 19,814 40,266 I was surprised how consistent the number of new listings has been. Over the 5 years the number of Jan – Sep listings has been essentially constant,… Read more »
No Money Down
Member
No Money Down

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.

No Money Down
Member
No Money Down
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 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. I really need to improve my HTML skills. I will make this longer and repost so hopefully format is improved when expanded. Also of interest in the net (Listings minus sales). This should indicate growth in inventory. Jan – Sep Net (Listings – Sales) Year Detached Apartment Total 2016 9,711 3,845 13,556 2015 6,304 7,282 13,586 2014 8,645 9,320 17,965 2013 10,519 9,666 20,185 2012… Read more »
No Money Down
Member
No Money Down

Apologies for formatting. This post expanded is more readable.

Foo Man
Guest
Foo Man

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.

YVR
Guest
YVR

Be Careful using REBGV “New listings” data. The same listing is often “new” many times over.

Tcg
Guest
Tcg

Our rental has now been listed as new in July, September, and October.

Ulsterman
Member

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.

Buynow or Getlaidnever
Guest
Buynow or Getlaidnever

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

Oh NO
Guest
Oh NO

Im surprised they didn’t get tasered, they look like crazy gangsters

YVR
Guest
YVR

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).

vangrl
Member
vangrl

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.

vangrl
Member
vangrl

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?

YVR
Guest
YVR

“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.

YVR
Guest
YVR

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.

vangrl
Member
vangrl

“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?

vangrl
Member
vangrl
YVR
Guest
YVR

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.

vangrl
Member
vangrl

“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

vangrl
Member
vangrl

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.”

Oracle
Guest
Oracle

People aren’t using CMHC for Vancouver Deatched. Just informing you. Mortgage changes mean nothing to the buyers.

patriotz
Member

“People aren’t using CMHC for Vancouver Deatched.”

The people buying the SFH buyers’ condos are.

Oracle
Guest
Oracle

Disclaimer : ” I, Patriots, work at immigration Canada in Ottawa…”

YVR
Guest
YVR

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.

Shut It Down Already
Guest
Shut It Down Already

“Most mortgages for detached are 30 year amortizations. ”

Link?

Oracle
Guest
Oracle

Delusional YVR. He thinks no one has Money than him. LMAO

Oracle
Guest
Oracle

Wrong. Most detached are mortgage free.

Royce McCutcheon
Member
Royce McCutcheon

“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.

YVR
Guest
YVR

In total, 58 per cent of new uninsured loans in 2015 opted for an amortization length of more than 25 years.

http://business.financialpost.com/personal-finance/mortgages-real-estate/taking-30-years-to-pay-off-mortgage-is-becoming-new-norm-in-toronto-and-vancouver

YVR
Guest
YVR

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.

Shut It Down Already
Guest
Shut It Down Already

That’s for 2015 only – not “all mortgages” by a long shot.

Boombust
Guest
Boombust

Was this on CKNW?

Buynow or Getlaidnever
Guest
Buynow or Getlaidnever
Abdul Lahazi
Guest
Abdul Lahazi

Is she sore?

Best place on meth
Guest
Best place on meth
Confucius
Guest
Confucius

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.

Slava
Guest
Slava

lol

Bag it and tag it
Member
Bag it and tag it

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

Best place on meth
Guest
Best place on meth

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.

Confucius
Guest
Confucius

“And so castles made of sand, melts into the sea eventually.”

Oracle
Guest
Oracle

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.

Slava
Guest
Slava

How will you know if we are, turbanator?
You are pathetic, whomever you are….lol

Ulsterman
Member
I saw on facebook a promotion for the new development Delta Rise. Over 200 comments and i was about to leave a snarky comment like “If you like that $15k down payment then hold off another six months.” I look at the comments and none are negative, none talking about falling prices and this may not be a good time to buy. It was all genuine “how much for a 2 bedroom apartment?” or “Do you have any one bedroom and dens left?” or just simple referals to facebook friends with “this looks awesome!” comments. I get that most people aren’t sad like me, reading bear blogs etc. But don’t they watch the 6pm news or glance at the Province from time to time. It just looks like there are thousands of condo-worshiping Millennials just itching to buy right NOW.
Midnight toker
Guest
Midnight toker

I haven’t drank the loop aid yet

Oracle
Guest
Oracle

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.

Confucius
Guest
Confucius

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.

Confucius
Guest
Confucius

Freudian slip, meant to say “wary” not “weary”. Probably cause I’m tired of your same old bag of tricks.

Oracle
Guest
Oracle

I’m not trying to trick anyone. I just post numbers/facts

Confucius
Guest
Confucius

Like the 450,000 immigrants in 2017? Your sawdust is showing.

Slava
Guest
Slava

No, you just repeat yourself like an obsessed monkey spanker.

Ulsterman
Member

I suspect my reality check post won’t be there for long.

YVR
Guest
YVR

“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.

Slava
Guest
Slava

Why don’t they go and work hard in India, the largest democracy in the world.
They can even open Subways there!

Oracle
Guest
Oracle

Prices arent going down for condos and townhomes. Get with reality and don’t believe this blog. Sheesh.

Tcg
Guest
Tcg

Our rental has dropped $40k in list since June. $440, $430, $428, $399.

Ktown
Guest
Ktown

Have them let the listing expire and offer them 350 with no realtor fees.

Ulsterman
Member

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?

Oracle
Guest
Oracle

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.

Ulsterman
Member

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.

yeah
Guest
yeah

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.

Abdul Lahazi
Guest
Abdul Lahazi

Those posts are obviously fake marketing comments to create interest.

vangrl
Member
vangrl

I saw that F.B post as well, baffles my mind.

vangrl
Member
vangrl

They kind of push for comments by giving zero information….”Can you send info please” appears to be the only comments I see

Ulsterman
Member

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.

JayTor
Guest
JayTor

A lot of those posts are from a company hired by the builder to hype the building.

Just me
Guest
Just me
Just me
Guest
Just me

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)

Just me
Guest
Just me

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.

chilled
Member
chilled
“Where is all this consensus about higher immigration? I dont see it in the general population.” Oh it’s there, it started 30yrs ago with the advent of multiculturalism. The institutions, whether they be public schools or post secondary, sold it. The millennium/hipster/social justice warrior crowd bought it, never questioned their professors for fear of being labeled a “RACIST.” My gawd ‘how could we survive as a country without this major influx of people?’ The social justice warrior crowd bought their professors claptrap and believe we are collectively incapable as a country. So here we are kiddies, giving away the farm with this misguided belief that somehow, for some reason, Canada owes the world. Questioning the immigration boondoggle in Canada is akin to a Scientologist quitting and denouncing the faith – one way or another, they will come after you. Good… Read more »
Confucius
Guest
Confucius
Oracle and his immigration scare mongering “facts”. He earlier claimed the immigration target is 450,000 for 2017. Read the article and see the quote below. Immigration numbers are recommended to be increased to that number by the end of the 5 year period. Look at the recommended chart, it’s a gradual increase per year and most of the increases come in the last two years. Even McCallum suggests the target may be too ambitious. For 2017, the increase will be a drop in the bucket and it will not stop the plunging detached housing market. The high immigration numbers are recommended because the baby boomers will be leaving the workforce in droves. They’ll also be selling their detached homes in droves. Better call your cousins Oracle, prices are going to go down hard. “The government’s economic growth advisory council has… Read more »
Slava
Guest
Slava

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.

mo yan
Guest
mo yan
Boombust
Guest
Boombust

It’s the poor cops I feel sorry for. Imagine dealing with idiots like them.

Ulsterman
Member

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.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

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.

nufio
Guest

this is why ill never buy a condo.

Patiently Waiting
Member
Patiently Waiting

I can’t help but wonder what the issue was that caused so much drama.

Confucius
Guest
Confucius
Oracle, I’m calling you out on your web of lies. You cannot be trusted. You pretend that you’re against foreign buyers or immigration, but you’re just using that as an excuse to continuously post your scaremongering. Everyone can see right through you. You’re building a sawdust McMansion in Surrey. You represent everything that’s wrong with this city. The real estate cartel has destroyed a once great city. Your foreign buyer and immigration boogeyman have scared hundreds of thousands into debt servitude. The real estate cartel has kept this city from developing into a properly functioning city. We don’t even have proper highways or a viable transit system outside of the Skytrain line. This city is being run into the ground for real state profits. You are the problem Oracle, not the solution.
Oracle
Guest
Oracle

Happy Diwali!!

Problem is politicians and bureaucrats.

Not me and not the immigrants.

franko
Member
franko

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.

patriotz
Member

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.

Kim
Guest
Kim
As much as I hate to admit it Oracle is right. But there are numerous ways you can play this. For me, instead of buying a condo to rent out or invest in, I buy REITs. CAR-UN is yielding 4.33%. Other REITs yield 4-8%. Be cash flow positive from day one. A 1 bedroom condo bought for 450K, with 20% down (87K)–you will be cash flow negative. Use that downpayment and buy a REIT instead. No, you won’t have the leverage to magnify your gains (you could, if you bought on margin or trade options) but you also won’t take that risk either in losing all of your money in one fell swoop. Buy shares in Rogers, Telus, Bell, the utilities, etc. Immigrants will need to use cell phones, Internet, electricity, etc. Real estate is way overrated. I’ve analyzed this… Read more »
Disgruntled condo owner
Member
Disgruntled condo owner

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.

Hyper-mega-Bull
Member
Hyper-mega-Bull

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.

Confucius
Guest
Confucius

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.

Oracle
Guest
Oracle

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.

YVR
Guest
YVR

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.

Combat roach
Guest
Combat roach

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.

Hyper-mega-Bull
Member
Hyper-mega-Bull

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…

Slava
Guest
Slava

People bought because they needed a place to live. That is the reality.
Let’s wait for the future, shall we?

Ray
Member
Ray
If the property is the taxpayer’s principal residence, the principal residence exemption may eliminate all or part of the capital gain. The Canada Revenue Agency (CRA) policy used to be that the form need not be filed unless there is a taxable gain after deducting the principal residence exemption, or a capital gains election was filed in respect of the property in the taxpayer’s income tax return for 1994. However, beginning with the 2016 taxation year, all principal residence sales must be reported on the income tax return. Income Tax Act s. 220(3.5) Sometimes an election is required to be filed with an income tax return. When a request is made to late-file an election, a penalty can be imposed @ $100 per month x the number of months that the election is late, to a maximum of $8,000. This… Read more »
YLTNboomerang
Member

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).

Oh NO
Guest
Oh NO

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

Ulsterman
Member

I’m just waiting for Oracle to reply claiming you’re making this all up for shits and giggles.

Oracle
Guest
Oracle

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.

Confucius
Guest
Confucius

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.

space889
Member
space889

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…

YVR
Guest
YVR

“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.

Bag it and tag it
Member
Bag it and tag it

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.

Bag it and tag it
Member
Bag it and tag it

Apparently the issue was due to the student showing up to gym class stoned and the teacher making him run laps as punishment.

space889
Member
space889

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/

space889
Member
space889
space889
Member
space889
space889
Member
space889

Canada: Adult Muslim migrants enrolled in high school, sexually harass teen girls, threaten teachers, cheered jihad massacre

https://www.jihadwatch.org/2016/06/canada-adult-muslim-migrants-enrolled-in-high-school-sexually-harass-teen-girls-threaten-teachers-cheered-jihad-massacre

space889
Member
space889

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.

https://www.thestar.com/news/canada/2015/09/01/dalhousie-medical-student-threatened-to-kill-up-to-20-people-warrant-reveals.html

Oracle
Guest
Oracle

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.

Oracle
Guest
Oracle

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.

Combat roach
Guest
Combat roach

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?

Oracle
Guest
Oracle

Just accept the fact that we will be the majority here

YVR
Guest
YVR

Thats great we will need lots of Uber drivers in the coming years.

Slava
Guest
Slava

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?

Slava
Guest
Slava

typo – Why do you care if we don’t accept them?

ostritch
Member
ostritch

Maybe it galls him to see a people and a way of life commit suicide ?

Combat roach
Guest
Combat roach

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.

Confucius
Guest
Confucius

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.

YVR
Guest
YVR

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.

Shut It Down Already
Guest
Shut It Down Already

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%).”

YVR
Guest
YVR

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.

http://www.theglobeandmail.com/opinion/editorials/overqualified-immigrants-really-are-driving-taxis-in-canada/article4106352/

Shut It Down Already
Guest
Shut It Down Already

How many taxi drivers are there in total? Now try that again.

patriotz
Member

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.”

Shut It Down Already
Guest
Shut It Down Already

I see you’ve trotted out that tired old “Mr Nitpicker” costume for Halloween again.

chilled
Member
chilled

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.

space889
Member
space889

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.

YVR
Guest
YVR

It is not about “feel”. It is what it is.

http://www.cic.gc.ca/english/pdf/research-stats/taxi.pdf

Oracle
Guest
Oracle

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.

YVR
Guest
YVR

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.

YVR
Guest
YVR
Londonernow
Member
Londonernow

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

Portlander
Guest
Portlander

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/

burntout
Guest
burntout

There will good numbers for Oct for bears. Esp Westside and West Van. Think big drops in the averages.

ostritch
Member
ostritch

You will get a nice opportunity to buy in next year. Will you?

Slava
Guest
Slava

‘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

Hyper-mega-Bull
Member
Hyper-mega-Bull

To ppl like this, the foreign buyer’s tax is easily evaded.

Canadians are naive and have no clue.

funky monkey
Guest
funky monkey

Is it? Give me an example or step by step how to do it.
Ill raise it with my MLA.

Hyper-mega-Bull
Member
Hyper-mega-Bull

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.

http://www.vancouversun.com/touch/news/metro/multi+million+dollar+feud+over+west+vancouver+murder+victim/11078198/story.html

patriotz
Member

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.

Hyper-mega-Bull
Member
Hyper-mega-Bull

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.

ostritch
Member
ostritch

+ 1

(Why doesn’t the voting function only work for some on this site now.)

HAMster
Guest
HAMster

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?

Donald T
Guest
Donald T

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.

HAMster
Guest
HAMster

Maybe you should actually read the linked article before beaking off with your pre-conceived notions.

Donald T
Guest
Donald T

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.

HAMster
Guest
HAMster

I believe that article before I believe you or Oracle.

Donald T
Guest
Donald T

quality comment, i must say.

Best place on meth
Guest
Best place on meth
So much for Whoreacle’s prediction of a massive rise in immigration. http://www.cbc.ca/news/politics/canada-immigration-levels-mccallum-1.3829496 Target for 2017 is 300,000 immigrants, same as 2016 and only 40,000 more than 5 years ago – NOT 425,000 as some pumper on this forum keeps suggesting in his 30 repetitive posts each day. What is the focus of immigration policy? “”Immigration plays a critical role in terms of the future of Canada in particular in region where the threat of de-population is a reality. Manitoba and other provinces are subject to that depopulation,” he said.” Oh, so it’s not to fill up Vancouver with offshore millionaires? “More than half the 2016 total, 160,600, are in the economic category for skilled workers, business people and caregivers; 80,000 are in the family program for spouses, children, parents and grandparents; 55,800 are refugees and protected persons and another 3,600… Read more »
Oracle
Guest
Oracle

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.

Ktown
Guest
Ktown

Lmao. How much has your house lost in value the last 3 months Oracle???

Ktown
Guest
Ktown

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..

Ktown
Guest
Ktown

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.

YVR
Guest
YVR

“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.

Oracle
Guest
Oracle

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!!!!

Reasonfirst
Guest
Reasonfirst

Link?

funky monkey
Guest
funky monkey

Yes Link?

Reasonfirst
Guest
Reasonfirst

Liar

YVR
Guest
YVR

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.

Slava
Guest
Slava

The explanation is Oracle’s low IQ.

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