It’s that time of the week again, time for another Friday Free-for-all!
This is our regular end of the world week news round-up and open topic discussion thread for the weekend.
Here are a few recent links to kick off the chat:
–Empty home tax fine $10k a day
–Vacant house fires
–Higher Rates Coming?
–West Van sales avg 16% below list
–
So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!
[…] great real estate market pause of 2016 seems to be creating some losses out there. Southseacompany pointed out this article that finds 3 homes selling for less than they were purchased […]
Why is this February 11, 2016? Did VCI actually invent a time machine? Or just delusional in their heads as usual?
Can Trump give us Free Pizza in China?
quote
“Downtown Vancouver, if i had to guess i would say close to 50%.. Detached in other areas (richmond, van, even tsawassen and south surrey closer to 75%)”
Basically half of all sales are happening to investors. Good luck with that Canada!
endquote
Glad to hear this. In a crash, I’d rather see fewer regular homeowners hurt, and investors…fuck them.
China fires its first warning shot, warning iPhone sales will suffer if Trump starts a trade war
“3 dire warnings coming from the bond market”, CBS News
http://www.cbsnews.com/news/3-dire-warnings-coming-from-the-bond-market/
“The short version of it all is that Trump’s fiscal stimulus plans — coming so late in the business cycle with the unemployment rate already below 5 percent — are likely to be highly inflationary, according to Capital Economics because inflation and wage growth “are already showing signs of accelerating.””
Madani and Capital Economics??!!! Hahahahaba
I agree with this. It’ll be a big snort of cocaine to a severe addict. Won’t be as good as his first hit; and might kill him. Trump will pump and dump–the US–that is. And blame the mess on the next guy.
“Timberrr…Vancouver Real Estate Selling For Less Than Purchase Price”, Better Dwelling
“Vancouver real estate often gets hailed for excellent returns, but this one has us scratching our head. Three single family detached homes have listed for less than the owners paid for them. The kicker? They were all purchased less than 8 months ago. Is this the beginning of the end for Vancouver’s market or are we just insanely good at finding deals? “
Some cash $$$ exchanging hands overseas.
Yes between PR’s so no taxes.
Trudeau and McCallum way out of their league
Canada wayyyyy corrupt.
Are ya’ll trumpeteers going to vote for Christy and the BC libes because they are not left-wing?
I really think you will shoot yourselves in the foot one more time.
Are you actually comparing Trump to Krusty?
WTF?
Tito,
Christy is “not left-wing” in exactly the same way that Clinton is “not left wing”. Neither is left-wing.
Trump and his group however are no longer a political party at all.
This anyway according to radical left-wing Noam Chomsky, who cites two seriously conservative thinkers, Norm Ornstein and Brooking’s fellow Thomas Mann, as his authority in this regard:
https://www.youtube.com/watch?v=lbAbyDqHveg
“Neither (Christy nor Clinton) is left-wing.”
I agree neither is left-wing, but not in exactly the same way. The BC “Liberal” party, like the Socreds before it, exists as the vehicle for keeping the left (i.e. NDP) out of power in BC. The Democratic party in US, while not a left wing party on the whole, has been the home of the electable left wing in the US for the past century. And Republicans do consider the whole Dem party to be left wing and see themselves as the vehicle for keeping the left out of power. In this sense yes Christy and Trump have the same role.
Vancouver RE pops up on SOH
http://slopeofhope.com/2016/11/us-market-update-trump-towers.html#comments
this post got it started
http://pbs.twimg.com/media/CxKfnddVIAAAjmu.jpg
Did you say “pops”?
To the idiots here bashing Trump.
STFU. He won a democratic election.
Those rioters. Have you ever considered they might be a few of the 11 million illegals? Or you ok with people breaking immigration laws?
Then you shouldn’t be on this site bashing the Chinese. You should be advocating that we accept 100 million of them going forward.
We should deport all chinese to Mexico.
I’m sure there’s a clause in NAFTA that allows is to dump our garbage there.
It is perfectly consistent to have one view about super wealthy Chinese speculators in Vancouver and a different view about middle class and poor Mexican immigrants in the southwest states of the U.S.
Geez. Big sweeping ideological generalizations and black and white thinking much?
Pot. Kettle. Black.
not really
Agreed, can’t compare useless scum parasites who are destroying life of others to fill their greedy hungry mental holes to those who are looking for the right to just participate in something called the “normal life”.
So what he won the election. He is not the first evil person ever elected and he won’t be the last.
What does it have to do with Chinese?!
What happened to these thousands of immigration cheaters? Why they are protected?
http://www.cbc.ca/news/canada/british-columbia/immigration-fraud-china-canada-1.3826942
“Wu and Ma are Canadian citizens, but Xiang is a permanent resident; her lawyer says she could be deported if she gets a sentence of more than six months, whereas the Crown says she’ll be sent back to China no matter what.”
Even the citizens should have their original immigration applications reviewed for fruad, then citizenship stripped, deportation and lifetime ban from Canada.
Good luck with that. We have Democrats running our system.
We need a new party that puts Canadians first. Seems like all they want to do is sign free trade deals
While holding canadains hostage. Allow free movement of people with those deals.
If America and Britain not signing trade deals, then Trudeau hasn’t robbed stopped from irreparably destroying Canada.
This must be American proxy war with China using Canada. You both want to own our resources and play us against the other team.
That should be an ultimate objective. Canada should start sending garbage back to mitigate ongoing pollution and before the parasites fuck everything up.
They don’t care.
Only action will effect change.
You want action, here you go. If you get in on the ground floor you might even get to be a candidate.
http://vancouversun.com/news/local-news/anti-immigration-party-registers-for-b-c-election
BTW- in 2012 when it looked like Mitt Romney had got the most votes and would lose the electoral college to Obama (actually Obama did end up winning the most votes) . A certain person said this:
“The electoral college is a disaster for a democracy,” Trump said in one tweet. In another, he said, “We can’t let this happen. We should march on Washington and stop this travesty. Our nation is totally divided!”
Now Clinton has more votes and he is complaining about the very same protests that he was asking for. A-hole
It is not true. Romney did not win most votes.
BTW those of you complaining about the anti-Trump protestors, who should just put up and shut up….
The same could be said of you guys..
you had the chance to buy in, or leave, you didn’t for whatever reason and now you are angry and protesting about it all. Where as 68% of Vancouverites own and so probably want prices to go up even more. that’s a lot more than trump who got 44% of the vote. So you are probably against the majority but still whining (AS AM I BTW) so lets not be such hypocrites.
68%?? It’s closer to 50% but nice try…and the majority want prices to drop considering there are families stuck in condo’s that can’t afford to upgrade to something family sized.
You had a chance to sell at the top, but you didn’t so now you are protesting on this site.
We’ll protest what we want since most of us are concerned about the destruction of this city caused by greed. You on the other hand represent the very greed and want prices to continue upward regardless of the consequences .
Just move somewhere else. Waiting for prices to drop is a silly ideas because you will be dealing for bad economy.
Of the 68%, the portion who own detached and are voting citizens are less than 50%.
Why are you whiners coming up with such terrible analogies? Really horrible, stupid, assinine analogies.
A real estate market is nothing like an election.
Not even in anyones wildest imagination, not even the tiniest bit.
True. But I bet Trump thinks there’s a close analogy.
Bozo alert.
Newcomer – you really think Harper was left leaning? Maybe you moved to Brazil while he was in power. Remember bill 51? The heritage party and the NRA regarded Harper as their man in Ottawa.
And, according to the Hare Psychopathy Checklist…he IS a psychopath, too.
I was taking issue with someone calling Harper “the extreme right.” The extreme right rounds people up and shoots them without explanation. The extreme right jails union leaders. To say that Harper was of the extreme right is shallow, and trivializing.
He was right wing for Canada in the 21st century. Obviously. But his government was very arguably left of the Democratic administration south of the border. Bill 51 was bad, but pales in comparison with what Homeland Security does in the States. His administration was a Canadian administration overseeing universal healthcare, minimum wage guarantees, protections for unions, and so on and so forth. In most of the world, and for most of history, that counts as left. Hell, on most things, Harper was left of communist China.
We’ve never had anything other than centrist governments in this country. Centre R and Centre L. Even in Quebec where radical politics could have easily taken hold: NOTHING RADICAL HAPPENED. There was a decade-long peaceful transition of power from the English to the French, with the exception of 3 deaths in the 60s and 70s perpetrated by a group of terrorists. WTF are you idiots learning in school?
Harper was aligned with American oil and gun industry via Alberta. They rest of the country did not really matter.
Christy……Trudeau…….pay attention.
Under New Management.
From 2011
Mainland Chinese Buying West Van.
https://www.youtube.com/watch?v=iMvPEuC4Q_0
Here is a reminder as to how long this gong show has been going on.
A decade of city rapping by scummy savages. That hedgehog Rose Li is fascinating, elite investor…
Shut up you racist.
LOL!
What kind of idiot says… Oh nevermind. teeheee
Vancouver Sun in full blown real estate mode today . Four housing- related articles in Section A.
Not really sure what the point of this article is:
“One of my friends in Vancouver was getting ready for work when his phone rang. It was a real estate agent. She was calling everyone in his building.”
“We have received a large number of requests from American clients looking to buy condos in Vancouver,” the realtor told him. “So, we are calling all owners in your building … quick sale at much higher than market value … I’ll even throw in a portion of my commission!”
Sadly, I’m now hearing from boomer home owners in my family’s area that they now expect home prices to rise due to American interest. It’s definitely giving some home owners more confidence in the market (which the 15% sort of shook up). So Trump has had an effect on our housing as predited by many here, it has empowered boomers to be more greedy.
It’s their money. If they want to sit still and watch it vaporize because they believe a significant number of Americans are going to keep the temper-tantrum going all the way through a job search and a visa application process, I say, knock yourselves out. Not everyone in this market is going to be so stupid, and it only takes a few to get the job done.
Does this mark the delusional stage of the bubble?
not quite, Snowflake is at the bargaining stage, next up is depression stage.
Agents are trying the same thing. It’s desperate.
Such nonsense.
Pope, any reason my comments are going to moderation?
http://vancitycondoguide.com/canadian-economy-unhealthy-addiction-to-real-estate/
The table at the bottom is truly remarkable. I had no idea that HELOCs constituted 12% of the Canadian GDP. 12%!
http://m.huffpost.com/ca/entry/11309192
Over 12 percent of GDP is directly from Real Estate. With the HELOCs, that makes over 25 percent of the economy dependant on real estate. Its probably a higher percentage in BC.
Regarding the Trump win:
He won democratically. Get over the hissy fit.
If democracy works, then he will see through the agenda people voted him on. For the protestors out there, i seriously think you should all get criminal records for disrupting the peace.
Networks like CNN are trying to start a civil war. Heads should roll. No coup should be allowed to take place in the USA. The rioters should be dealt with harshly.
So much talk before the election about Trump supporters causing trouble if he didn’t win.
That’s the worthless media for you, they forgot to mention (on purpose) that extreme leftists are just as dangerous as anyone else if they don’t get their way.
“extreme leftists are just as dangerous as anyone else if they don’t get their way”
Sure, but haven’t they pretty much died out in the West? I remember FLQ, Weather Underground, Red Army Faction, etc. When was the last time the West saw a terrorist attack from the extreme left? It’s not Bernie Sanders supporters you see running around carrying guns.
And frankly I think a Trump victory is just as likely to stir up trouble from the extreme right as a defeat would have been. Take it from David Duke.
No, they haven’t died out.
Berkeley is turning out record numbers and they’re more extreme than ever.
Yeah right. Let us know the next time something like the Patty Hearst kidnapping happens.
Prime Minister Trudeau had unpublicized fundraising reception with Richmondites – See more at: http://www.richmond-news.com/news/prime-minister-trudeau-had-unpublicized-fundraising-reception-with-richmondites-1.2628937#sthash.vdjRuj1b.dpuf
They told the News that the event was held by members of the Chinese community at the home and attendees reportedly paid several thousands of dollars to attend.
Justin is selling us out.
We no longer have a Prime Minister, now we have a Co-Mandarin Chief.
Justin is screwed. He is a puppet and will tarnish his fathers legacy. His masters know Canada is in for a world of pain.
If he instructs (yes instructs) Poloz to lower bank rate IN ORDER TO LOWER THE LOONIE, Trump will see right through it. Trump will put in quotas instead of tariffs.
I can see quotas for Softwood, Oil, and Cars coming to Canada. Decline.
But wait we have dumb McCallum who keeps flooding the cities with immigrants and foreign illicit money.
The vermin are truly incredible.
They’re stealing in china and fleeing with the money to Canada.
They’re stealing in Canada and fleeing with the money back to china.
Stealing, fleeing, stealing, fleeing….and on and on it goes while we watch in amazement and wonder why our elected representatives allow this garbage to destroy our country.
Meh, so what else is new?
