Friday Free-for-all! February 11 2016

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!

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[…] 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 […]

space889
space889
3 years ago

Why is this February 11, 2016? Did VCI actually invent a time machine? Or just delusional in their heads as usual?

history
history
3 years ago

http://www.mybudget360.com/canada-real-estate-vancouver-real-estate-tax-on-rentals-investors/#more-6861

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

Patiently Waiting
Patiently Waiting
3 years ago
Reply to  history

Glad to hear this. In a crash, I’d rather see fewer regular homeowners hurt, and investors…fuck them.

Hyper-mega-Bull
Hyper-mega-Bull
3 years ago

China fires its first warning shot, warning iPhone sales will suffer if Trump starts a trade war

http://www.cnbc.com/2016/11/14/apple-iphones-could-be-hit-if-trump-imposes-a-45-percent-tariff-on-china-exports-beijing-warns.html

southseacompany
southseacompany
3 years ago

“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.””

Oracle
Oracle
3 years ago

Madani and Capital Economics??!!! Hahahahaba

ostritch
ostritch
3 years ago

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.

southseacompany
southseacompany
3 years ago

“Timberrr…Vancouver Real Estate Selling For Less Than Purchase Price”, Better Dwelling

https://betterdwelling.com/city/vancouver/timberrr-vancouver-real-estate-selling-for-less-than-purchase-price/

“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? “

Oracle
Oracle
3 years ago

Some cash $$$ exchanging hands overseas.

Yes between PR’s so no taxes.

Trudeau and McCallum way out of their league

Canada wayyyyy corrupt.

Tito
Tito
3 years ago

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.

Best place on meth
Best place on meth
3 years ago
Reply to  Tito

Are you actually comparing Trump to Krusty?

WTF?

CanNeverThinkOfAGoodName
CanNeverThinkOfAGoodName
3 years ago
Reply to  Tito

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

http://www.salon.com/2015/09/23/noam_chomsky_right_wing_extremism_from_trump_may_be_comic_relief_but_its_not_that_different_from_the_mainstream/

patriotz
3 years ago

“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.

Boombust
Boombust
3 years ago
Reply to  history

Did you say “pops”?

Oracle
Oracle
3 years ago

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.

Best place on meth
Best place on meth
3 years ago
Reply to  Oracle

We should deport all chinese to Mexico.

I’m sure there’s a clause in NAFTA that allows is to dump our garbage there.

CanNeverThinkOfAGoodName
CanNeverThinkOfAGoodName
3 years ago
Reply to  Oracle

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?

ostritch
ostritch
3 years ago

Pot. Kettle. Black.

CanNeverThinkOfAGoodName
CanNeverThinkOfAGoodName
3 years ago
Reply to  ostritch

not really

Combat roach
Combat roach
3 years ago

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”.

Tac
Tac
3 years ago
Reply to  Oracle

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?!

UBC in Crisis Mode
UBC in Crisis Mode
3 years ago

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

Best place on meth
Best place on meth
3 years ago

“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.

Oracle
Oracle
3 years ago

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.

Tac
Tac
3 years ago

This must be American proxy war with China using Canada. You both want to own our resources and play us against the other team.

Combat roach
Combat roach
3 years ago

That should be an ultimate objective. Canada should start sending garbage back to mitigate ongoing pollution and before the parasites fuck everything up.

Oracle
Oracle
3 years ago
Reply to  Tito

They don’t care.

Only action will effect change.

patriotz
3 years ago
Reply to  Oracle

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

different this time
different this time
3 years ago

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

Tac
Tac
3 years ago

It is not true. Romney did not win most votes.

different this time
different this time
3 years ago

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.

Bag it and tag it
Bag it and tag it
3 years ago

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 .

Tac
Tac
3 years ago

Just move somewhere else. Waiting for prices to drop is a silly ideas because you will be dealing for bad economy.

Oracle
Oracle
3 years ago

Of the 68%, the portion who own detached and are voting citizens are less than 50%.

Best place on meth
Best place on meth
3 years ago

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.

CanNeverThinkOfAGoodName
CanNeverThinkOfAGoodName
3 years ago

True. But I bet Trump thinks there’s a close analogy.

ostritch
ostritch
3 years ago

Bozo alert.

different this time
different this time
3 years ago

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.

Boombust
Boombust
3 years ago

And, according to the Hare Psychopathy Checklist…he IS a psychopath, too.

Newcomer
Newcomer
3 years ago

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.

ostritch
ostritch
3 years ago
Reply to  Newcomer

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?

Tac
Tac
3 years ago

Harper was aligned with American oil and gun industry via Alberta. They rest of the country did not really matter.

HAMster
HAMster
3 years ago

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.

Combat roach
Combat roach
3 years ago
Reply to  HAMster

A decade of city rapping by scummy savages. That hedgehog Rose Li is fascinating, elite investor…

Shut It Down Already
Shut It Down Already
3 years ago
Reply to  Combat roach

Shut up you racist.

Best place on meth
Best place on meth
3 years ago

LOL!

I\'m With Stupid ^
I\'m With Stupid ^
3 years ago

What kind of idiot says… Oh nevermind. teeheee

No Money Down
No Money Down
3 years ago

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:

http://vancouversun.com/news/local-news/daphne-bramham-the-americans-are-coming-the-americans-are-coming-but-will-we-let-them-in

“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!”

Bear Vancouverite
Bear Vancouverite
3 years ago
Reply to  No Money Down

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.

Newcomer
Newcomer
3 years ago

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.

Confucius
Confucius
3 years ago

Does this mark the delusional stage of the bubble?

history
history
3 years ago
Reply to  Confucius

not quite, Snowflake is at the bargaining stage, next up is depression stage.

ostritch
ostritch
3 years ago

Agents are trying the same thing. It’s desperate.

Boombust
Boombust
3 years ago
Reply to  No Money Down

Such nonsense.

Newcomer
Newcomer
3 years ago

Pope, any reason my comments are going to moderation?

Newcomer
Newcomer
3 years ago

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%!

Trump
Trump
3 years ago
Reply to  Newcomer

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.

Oracle
Oracle
3 years ago

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.

Best place on meth
Best place on meth
3 years ago
Reply to  Oracle

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.

patriotz
3 years ago

“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.

Best place on meth
Best place on meth
3 years ago
Reply to  patriotz

No, they haven’t died out.

Berkeley is turning out record numbers and they’re more extreme than ever.

patriotz
3 years ago

Yeah right. Let us know the next time something like the Patty Hearst kidnapping happens.

Hyper-mega-Bull
Hyper-mega-Bull
3 years ago

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.

Best place on meth
Best place on meth
3 years ago

Justin is selling us out.

We no longer have a Prime Minister, now we have a Co-Mandarin Chief.

Oracle
Oracle
3 years ago

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.

Best place on meth
Best place on meth
3 years ago
Reply to  Saraz

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.

Midnight toker
Midnight toker
3 years ago

Meh, so what else is new?