Friday Free-for-all! November 18th 2016

It’s that time of the week again…

Friday Free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend.

10% of homes never lived in

raise minimum down payments

hardships for multiple home owners

So, what are you seeing out there? post your news links, thoughts and anecdotes in the comments below and have an excellent weekend! 

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Brian Ripley
Guest

My post from Nov 2nd with charts of “real” prices of housing compared in Canada, U.S. and Japan as well as the possible path for the next 4-5 years for residential real estate investment in Canada if the U.S. crash and rebound experience is a model that the Canadian market will follow:
http://www.chpc.biz/history-readings/the-shadow-of-reality

I caught an interview on BNN with Mark Cashin, a Toronto mortgage broker who was being interviewed on the subject of “shadow lending” in Canada, ie: the non government insured mortgage lenders who have to actually assess risk when lending.

​After the 1.30 minute mark in the interview, Mr Cashin remarked that a conventional 1st mortgage rate in the private market would be set at 6%.

Market forces may overwhelm government subsidies.

space889
Member
space889

@Bear Vancouverite – Compassion?? What’s that? I don’t recall ever seeing much here on this blog.

@Confucius – Stop being a cry baby. Geez…role model bears on here lump 1 billion people into 1 group as vermins & locusts, and you are crying about being lumped into the role model bear group who has wet drams about housing crash & enjoying homeowner sufferings??? Geez… What does team BPOM say about people who complain about their posts being racists & hateful again??

Confucius
Guest
Confucius

First time I complained about your prejudice. Just as long as you know that you’re being a hypocrite and not helping your cause. I’ve called him out on his prejudice before, but he’s set in his ways. There’s a lot of people around the city that think that way. They aren’t going to change, just let them make themselves look bad, most people don’t think that way. You can see that his more racist posts don’t usually get up voted.

Newcomer
Member
Newcomer

Good point. The xenophobes are wasting their breath. They will never find any meaningful support for their views, so it is best to group them with 9-11 conspiracists and raw-milk enthusiasts, that is to say, as people with opinions simply not worth wasting time on.

space889
Member
space889

So you are saying we should coddle, praise, and celebrate people like BPOM on this blog?! Cuz that’s all I see going on here. They are the most popular posters with people listening & cheering to every one of their words and posts.

Best place on meth
Guest
Best place on meth

Anybody is popular compared to an angry dung-heap with zero social skills like yourself.

You may as well resign yourself to being single and friendless until the day you die.

Shut It Down Already
Guest
Shut It Down Already

Weren’t you posting that on a Friday night?

Newcomer
Member
Newcomer

Dude, get a grip. That’s the all-or-nothing thing again. Some people like BPOM, most ignore him. You can say that about pretty well everyone on this blog. And it’s a blog, for Pete’s sake.

Best place on meth
Guest
Best place on meth

“Some people like BPOM, most ignore him.”

No, most people ingore you,

duh
Guest
duh

You’re drunk BPOM, go home.

YVR
Guest
YVR

“1 billion people into 1 group as vermins & locusts”

You are right. That is an insult to verman such as rats to group locust in with them.

Best place on meth
Guest
Best place on meth

Rats are relatively harmless compared to chi-coms.

Mainlanders are even worse than ISIS when it comes to the damage they inflict on western civilization.

space889
Member
space889
Most of developed European countries & Japan are in NIRP regimes. Over 3 trillion sovereign bonds are yielding negative and negative out to 10 years in a lot of places. USD being the world reserve currency currently has ~2.3% yield on 10Y and 3%+ on 30Y, higher than even Canada by a good 50bps+ margin. Are you saying UST is really more risk than CAD sovereign bonds? Is Europe and Japan ready to raise rates yet cuz the inflation and growth are so great? Seriously?? I know it’s hard and it will really hurt since a lot of you don’t use that gray mass between your ears. But like all exercise, it’s always painful when you are starting but you still need to do it. Use that brain to think and learn something before shooting your mouth off about stuff… Read more »
Best place on meth
Guest
Best place on meth

This is why everyone here (and likely everywhere else) hates your fucking guts and no girl will go anywhere near you.

Shut It Down Already
Guest
Shut It Down Already

What would Freud say about your constant references to rejection by the opposite sex?

Did a Chinese hooker once giggle at your little fella, Napolean?

Best place on meth
Guest
Best place on meth

You should be asking space that question, he’s the one with the chinese dick.

And his numerous refererences to massage parlours….ugh…just ugh.

Mabye your should slip him some of your Freud.

space889
Member
space889

So if this empty home tax thing doesn’t work in making Vancouver rental market great again, what’s next? Should city pass a bylaw outlawing under-utilized housing?

I mean it’s not fair for a family 4 to squeeze in a 700 sq ft condo paying $2000+/month rent, while some bourgeois family of 3 is living in a 3000 sq ft mansion on the west side! That family should share its resource!

Maybe the city should just social all housing and dole it out based on needs instead. That way, the city can also enforce proper density, min & max sq ft per person, minimize wasted space, and totally make this city the green LEED Platinum envy of the world! A utopian city!

Funkeymonkey
Member
Funkeymonkey

Who pays $2000 for a 2bed condo? 10 seconds of investigation found this https://vancouver.craigslist.ca/van/apa/5877882208.html

Shut It Down Already
Guest
Shut It Down Already

Well done, you found a shithole in a crappy area.

Funkeymonkey
Member
Funkeymonkey

I was very lazy in my search. The great thing about a shithole you can do what you want to it. Actually it’s a great nabourhood.

Shut It Down Already
Guest
Shut It Down Already

Why would I waste money making improvements to somebody else’s property?

Oh oh
Guest
Oh oh

That house just sold way under ask 1240000. …must be a builder it should be built for 2018 summer ..they will have min 1.8m invested and it should sell for 1.3 then. Risk ON

space889
Member
space889

Oh yeah, also it will cost at least $4M to run this empty home tax office, and likely more for any court challenges. Meanwhile if things work out as expected, the tax should bring in $0 in revenue. Nice eh?

Also, what if someone rents out their place but the tenant doesn’t live in it? How is that going to be resolved? Would the homeowner be fined for not making the tenant live in it? Or the tenant for living it empty?

What if the owner has a $5M house and no one can rent it at market rates? Should owner be forced to lower the rent until it is rented?

What if the owner wants to use the house for 4 months of the year for legit reasons?

Donald T
Guest
Donald T

No, it means 4M more in the pool of taxable income, dirty money should pay just like money earned from sweat and labour.
No. Police doesn’t bring in revenue, would you get rid of them?
No. Market rates means a rate someone is wiling to pay, otherwise, it should call fantasy Rate.

No, how about people wants to use a shelter for 4 months of the year for humanitarian reasons.??

space889
Member
space889

Or you could achieve almost the same thing by increasing property tax rate, decrease personal income tax. Tax the unproductive assets more, while tax productive economic activities less. All without having to spend $1 extra on new bureaucracy.

Uhm…how many people can afford to buy a $1M car? Does that mean Bentley and other super luxury cars are asking fantasy prices too, cuz 99% of the population can’t afford them? Commercial units routinely sits empty for stretch waiting for tenants who can pay the asking rent, rather than any Jonny come lately who’s just trying to score a deal.

So, basically the owner of that unit have to pay empty home tax to keep the unit available for humanitarian reasons.

patriotz
Member

“Or you could achieve almost the same thing by increasing property tax rate, decrease personal income tax. Tax the unproductive assets more, while tax productive economic activities less. All without having to spend $1 extra on new bureaucracy. ”

Absolutely correct. The problem is that Christy will not allow this to happen. CoV can only do what it is allowed to do.

YVR
Guest
YVR

Why does a renting locust like you care? It will be property owners who will pay for the empty home tax, the fines for not declaring and for all the administartions costs. Anyone who rents pays nothing towards this. The locusts will pay most of it. What is not to like?

space889
Member
space889

Stupidity for a start, and the rest, well, it would be a waste of time & energy to explain to a waste of air like you.

Newcomer
Member
Newcomer

This is a good example of carelessness on your part. City Council explained this in detail. They planned the tax to be revenue neutral, which is to say that it is planned to bring in exactly what it costs to administer.

Could it be that, not only in this case, but also in other cases, because you think yourself so much smarter than everyone else, you don’t even bother read what is written and jump to conclusions that make no sense, and then you are angry because the actions of those around you make no sense? Perhaps you would be happier if you listened and understood. Then the world around you might make more sense. You are smart enough to do it.

space889
Member
space889

Uhm…if this bylaw works as intended, there would be no empty homes in the city as they would all be occupied or rented out. In that case, no empty homes = no taxes. So how would that be revenue neutral?

So basically the city is counting on enough people to break the law and hopefully lie about it to generate enough revenue to offset the admin cost. But that means, this bylaw would be a failure since it didn’t eliminate or reduce empty homes!

Maybe it’s you people who should start learning some logical thinking and cause & effect? Maybe start with that basic philosophy course that teaches logic.

Newcomer
Member
Newcomer

So your problem here is that you have fallen victim to all-or-nothing thinking (covered in high school philosophy courses and lots of online resources, in case you wanted to avoid the same mistake next time).

The expectation is that the penalties will be somewhat effective. If you tried that “reading” thing that I suggested, you would see that, in choosing the penalty rates, they estimated how effective the penalties would be.

One of the first tests of logic is to ask yourself if what you are saying makes any sense in the real world. If it does not, there may be a flaw in your reasoning.

space889
Member
space889

So basically you are saying this bylaw is not expected to fix the program to any degree. If it did then where would the money come from since there wouldn’t be enough empty homes lying around to tax.

$4M at 1% = $400M in assessed values, and that’s a conservative estimate of operating cost. Most empty condos are not million dollar condos.

Newcomer
Member
Newcomer

Wow. You actually are stupid. I thought you were just pretending.

Bear Vancouverite
Member
Bear Vancouverite
I feel the bylaw will have a significant impact. You are assuming either nobody pays or everybody pays. My guess is the city modeled out the 1% tax and broke down empty homeowners into the following: 1) People who will declare their empty property and pay the tax 2) People who will rent out their property or let someone stay in them to avoid the tax. 3) People who will evade the tax. The collections from #1 will help pay for enforcement of #3 and administration of the program. #2 achieves exactly what the city and residents want which is to increase rental supply. Also, the more people in group 1, the more effective the enforcement of group 3. the more successful the enforcement of group 3 will result in those in #3 becoming either #1 (pay the tax) or… Read more »
Brian Ripley
Guest
The Steve Bannon Playbook for the U.S. Full article here: http://www.hollywoodreporter.com/news/steve-bannon-trump-tower-interview-trumps-strategist-plots-new-political-movement-948747 A Quote: “Like [Andrew] Jackson’s populism, we’re going to build an entirely new political movement,” he says. “It’s everything related to jobs. The conservatives are going to go crazy. I’m the guy pushing a trillion-dollar infrastructure plan. With negative interest rates throughout the world, it’s the greatest opportunity to rebuild everything. Ship yards, iron works, get them all jacked up. We’re just going to throw it up against the wall and see if it sticks. It will be as exciting as the 1930s, greater than the Reagan revolution — conservatives, plus populists, in an economic nationalist movement.” I think this is another indication that interest rates will rise as the U.S. turns to massive fiscal spending which will stimulate wages and in turn inflation. Canadians might want to consider… Read more »
Patiently Waiting
Member
Patiently Waiting

I’m torn. The small business I’m involved with (shareholder) is paid entirely in US$ and has US$ investments. At the same time, I feel Bannon and Trump are hateful scumbags. Damn.

Brian Ripley
Guest

There is also this problem:
http://www.chpc.biz/history-readings/trumped

How much of this definition will creep into the mix?
(Psychopathy and or Facism)

Best place on meth
Guest
Best place on meth

I feel Bannon and Trump are revolutionaries.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Trump is a crude ignorant narcissist who cares about power, not helping or serving or making things better. Bannon is someone who has spent hundreds and hundreds of hours in his life writing hate, and planning how to hurt people.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

And Ivanka Trump’s designer clothing is all made in China.

Shut It Down Already
Guest
Shut It Down Already

Hundreds of hours writing hate? Explains the BPOM love affair, then.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Huh?

The Man
Guest
The Man

Nothing like getting your economic news from ” The Hollywood Reporter”

Stratahacker
Guest
Stratahacker

Great article thanks.

patriotz
Member

Bannon is just a propagandist. What he says has no more relation to reality than what Trump has said (e.g. the wall that has turned into a fence that’s already there). It’s the Republican establishment who will actually decides what gets done and Trump has already signaled this by appointing Priebus as chief of staff.

ostritch
Member
ostritch

If you say so Patz. You talk with such confidence. Now you got inside knowledge of Trump’s cabinet. Washington needs you. You should go.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

People have got to learn the difference between speech versus garbage, debate in the public sphere versus head-up-the-ass tribal swarming. @Ostritch and @Shut. By “people” I mean you guys. Bannon is full of garbage. It’s completely out of place and stupid for Ostritch to speak sarcastically to Patz about this. It’s not a matter of opinion that Bannon is a propagandist. It’s a matter of established evidence.

ostritch
Member
ostritch

I don’t put any stock in what “you people” think of as evidence. You people Kensington bearrrrrssson dis blog. Be right first about something and then maybe I’ll listen.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I don’t know what you said, ostritch. It mostly sounded like cliched patterns and assumptions. I couldn’t grok it.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

People have got to learn the difference between speech versus garbage, debate in the public sphere versus head-up-the-ass tribal swarming. @Ostritch and @Shut. By “people” I mean you guys. Bannon is full of garbage. It’s completely out of place and stupid for Ostritch to speak sarcastically to Patz about this. It’s not a matter of opinion that Bannon is a propagandist. It’s a matter of established evidence.

Diadora
Guest
Diadora

From Vancouver Sun “recent immigrants are costing Canada around $30 billion a year in terms of the benefits they receive over what they pay in taxes. ”
http://vancouversun.com/opinion/opinion-increased-immigration-wont-benefit-most-canadians
McCallum, are you listening?

Bag it and tag it
Member
Bag it and tag it

Amen! Lobbyists for RE cartel and big business such as banks pressuring Mccallum and trying to brainwash us, just so they get more customers. We are always told that a big problem is overpopulation of the planet…how about we lead by example and show how to have a successful economy with zero population growth…

Bag it and tag it
Member
Bag it and tag it

Also big business wants to ensure an ample supply of minimum wage workers. They’ll say there is a shortage of these types of workers, but that’s only because they are unwilling to raises wages….so they spend money bribing Mccallum instead of spending money on wages.

Joe
Guest
Joe

Actually big business wants the lowest wage possible so they have moved jobs over to the third world. Canada is now facing huge immigration with disappearing jobs. Thats why Trump was voted in.

BubbleTea
Guest
BubbleTea

McCallum. “87%” do not want higher immigration! Why have you lied and increase the level?

Funkeymonkey
Member
Funkeymonkey

Oracle and Space or any other Bull on this blog. Do you really think prices can go higher than this? https://www.realtor.ca/Residential/Single-Family/17480906/18-24-W-16TH-AVENUE-Vancouver-British-Columbia-V5Y1Y6

No Money Down
Member
No Money Down

Google street view of this property on Zolo (LOL).
https://www.zolo.ca/vancouver-real-estate/18-west-16th-avenue

Oh oh
Guest
Oh oh

That place been on market for over 6 months..city shut down the reno due to no permits. .east Indian owners trying to flip it are clueless

Best place on meth
Guest
Best place on meth

“Both 4 units have 3 bdrs….”

Both 4?

Bwahahah!! This is why you must use a professional realtor, because they have the edgemecation.

And a “ceramic bathroom” to boot! I’ve never heard that expression.

How long have you been in Canada, Miss Mai?

space889
Member
space889
YVR
Guest
YVR

Next step is electing our own Trump. Then round up the locusts and deport them. That means you too Space boy. Pedophile locusts like you will be the first to go.

Shut It Down Already
Guest
Shut It Down Already

Admin, when was the last time you gave enough of a crap about this blog to put a stop to things like this?

Saul
Guest
Saul

Shut the fuck up, you pervert!

Best place on meth
Guest
Best place on meth

Whaaa!! Admin!!!! Mommy!!!!

Shut It Down Already
Guest
Shut It Down Already

Do be quiet, cockwomble.

Admin clearly abandoned ship – ad revenues needed to cover rent?

Best place on meth
Guest
Best place on meth

Waaa!! Why won’t this blog do as I say and shut it down already!!

I hate free speech and honest discussions!!

Admin! Admin! Admin! Do you hear me!!!
———————————————————–
Yes communist, we hear you and your answer is coming.

http://img12.deviantart.net/2b96/i/2015/113/f/3/gunshot_by_foxakamrbazinga-d5uol6o.png

Shut It Down Already
Guest
Shut It Down Already

Hypocritical loser.

Best place on meth
Guest
Best place on meth

Go find yourself a safe space somewhere and have a good cry.

history
Guest
history

cripes, that is so not gonna happen.

Stratahacker
Guest
Stratahacker

That’s what you all said about Trump

Best place on meth
Guest
Best place on meth

He’s probably right, this is Liberal Snowflake Canada after all.

We’re a sensitive , politically correct semi-country that lets communist china walk all over us.

Stratahacker
Guest
Stratahacker

I think things may be changing. The corruption greed and incompetence are too glaring to ignore. This place has become one big freak show under her “leadership”.

space889
Member
space889

The pedophiles and perverts are locally grown and fed proud red blooded Canadians 🙂 Unless you are starting to count yourself as a locust now?

Give me a break
Guest
Give me a break

YVR your post is pathetic.

oh la la
Guest
oh la la

lol that new Trump you wish of will certainly get rid of you first. Maybe you should head to YOW and join your friends, help them with their graffiti. Looked like they need you.

patriotz
Member

“Next step is electing our own Trump. ”

We already have one running for the Conservative leadership. Get out and work for her if that’s what you want. But you might not be able to afford a ticket to her fundraisers.

What us elites?

patriotz
Member
Stratahacker
Guest
Stratahacker

Are you serious? $500 a plate is bargain basement for a fundraiser. Please use your own common sense rather than regurgitating media spin.

That being said she is no Trump. His message was economic. Her focus on “values ” is a political loser.

Best place on meth
Guest
Best place on meth

There is actually nothing in that flyer that’s incorrect, it’s all factual.

The only part I don’t understand is why the author want’s to “save” Richmond.

It’s a lost cause, just build a wall around it.

Bear Vancouverite
Member
Bear Vancouverite

49% of Richmond is ethnic Chinese according to a 2014 report. There are at least 45,000 residents in Richmond of English, Scottish, German or French descent. I thought you were pro European immigrants and their descendants?

Diadora
Guest
Diadora
history
Guest
history

Higher downpayments means a more significant buyin to the prevailing trends.., but those trends are ill defined right now. Ottawa Snowflake help us!

Oracle
Guest
Oracle

http://globalnews.ca/news/3075089/new-immigration-rules-make-it-easier-for-americans-to-work-and-stay-in-canada/

Got to love our politicians. Canada now easiest 1st word country to immigrate to in the world. Corrupt money gonna follow.

Why aren’t we allowed to immigrate to other 1st world countries so easily?

Stratahacker
Guest
Stratahacker

Because our government does not serve the interests of Canadians. They serve the interests of the globalist elite: we get cheap dollar store trinkets, homeless camps in our neighbourhoods and endless fentanyl whilst they scoop up our jobs, natural resources and homes. It is going to get uglier.

history
Guest
history

emmigrate…. a word narly used in Canada. Fill your boots and travel, dont count

Oracle
Guest
Oracle

It’s the lag an autocorrect on this site wreaking havoc with spelling.

Newcomer
Member
Newcomer

Get Grammarly. It’s a free plug-in and it runs OK on this site.

Shut It Down Already
Guest
Shut It Down Already

Admin should just remove the crap that’s slowing it down.

history
Guest
history

Oracle, surely the Modi shuffle has not left your compatriotx untouched. Care to provide an accurate survey of those you know personally affected?

history
Guest
history

It’s been four hours, cmon, just walk around the Strawberry Hill and report back.

UBC in Crisis Mode
Guest

Which area in Vancouver is the best to store wealth? Is it Point Grey or Shaughnessy? No, it is University Endowment Land (although not a Vancouver proper).
In recent years, about 50% houses are purchased by foreign money, and most of them left empty (yes, Vancouver’s empty tax won’t apply here).

Some examples (pay attention to the sale dates):
5941 Chancellor Blvd, June 7, 2016, $8,700,000
1561 Wesbrook Cres. June 23, 2016, $9,200,000
5988 Newton Wynd, March 1, 2015, $7,790,000
1576 Newton Cres, Jan 31, 2015, $5,880,000
5915 Newton Wynd, July 27, 2016, $15,680,000
5516 Marine Dr. NW, Nov. 20,2014, $9,000,000
… … …

YVR
Guest
YVR

“Some examples (pay attention to the sale dates):”

Yes, zero sales in the past 4 months.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Oh wow, I hadn’t thought of that. UEL not part of Vancouver. It would be so much greater as a university community if the people in the houses there actually lived there. Art could thrive.

Madashell
Guest
Madashell
space889
Member
space889

Oh please, it makes those politicians sound like they actually care about locals and just stupid. No, they did what they did either on purpose or at the command of their financial backers. Not they are stupid or lax or lazy. This is just let the politicians off the hook, and the voters who keep believing and voting these people in off the hook.

YVR
Guest
YVR

Don’t worry Canada’s version of Trump is coming. Get ready.

Best place on meth
Guest
Best place on meth

This country needs a major housecleaning.

It’s gotten so filthy.

Just me
Guest
Just me

Begin by kicking out Christy Clark and her band of developers, instead of voting for them again!

patriotz
Member

“Don’t worry Canada’s version of Trump is coming. Get ready.”

1. Who is this person?
2. When and how will this person win the Conservative leadership?
3. When and how will the Conservatives win with this leader?

If you can’t answer the above, you’d might as well say, “Jesus is coming, get ready”.

HAMster
Guest
HAMster

Kevin O’Leary

patriotz
Member

That’s #1. He wouldn’t make it to #2 because the Conservatives are not going to elected a leader who can’t speak French. Remember 1/4 of ridings are Francophone and ridings get equal weighting.

HAMster
Guest
HAMster

He can learn to speak French.

patriotz
Member

It’s rare for unilingual people over 60 to learn a second language. I also think it’s telling that he doesn’t speak French despite going to (private) elementary school in Quebec and high school in Ottawa.

Bear Vancouverite
Member
Bear Vancouverite

That might not even matter. Kevin O’Leary has one thing going for him: he likes to use the term “cockroach” alot*. BPOM and others will fall over themselves to elect him.

* He uses the term to label worthless businesses, but I’m sure it works just as well to refer to other things that will fire people up.

On a more serious note, Kevin is much more level headed than Trump and even has a pretty decent sense of humour.

Stratahacker
Guest
Stratahacker

Ten years of Clark’s government has turned BC into a Banana Republic. Stunning. The truth is bubbling up to the surface.

Oracle
Guest
Oracle

They playing you guys. Read my above comment

Just me
Guest
Just me

She can’t hear you. Too busy getting honored in the UK for saving bears in northern BC.

Stratahacker
Guest
Stratahacker

I hope she will hear me on Election Day.

Just me
Guest
Just me

I wonder how many of our local Trumpeteers will end up voting for Christy?

patriotz
Member

Pretty much all of them, since an NDP government would stand against everything they believe in.

Best place on meth
Guest
Best place on meth

Trump and Krusty are nothing alike.

patriotz
Member

They are both pretty good at fake piety.

https://www.youtube.com/watch?v=oFcvE0_wW84

ostritch
Member
ostritch

Is the NDP like Trump now? Are they gonna drain the swamp.? I kinda remember them in the swamp.

patriotz
Member

So he hires the guy responsible for the mother of all swamps.

Report: Trump hires Citizens United head as deputy campaign manager

Just me
Guest
Just me

So, are you voting for Christy just because the NDP of 20 years ago was not to your taste? Are you voting for guaranteed status quo? Rich developers catering to Chinese millionaires will thank you.

Open your eyes, we are in 2016.

The BC liberals have destroyed the identity and self-respect of this city over the past 10 years. If you can’t change that, you are complicit.

Oracle
Guest
Oracle

This guy playing us like fools. He knows that reverting back to the mean will never happen so now they are setting people up to get used to the new normal. They are saying we weren’t right, but gov failed us, so too late now , get used to it.

Otherwise the Sun would never publish this piece.

Canada has the dumbest population of all me thinks.

paulb
Member
Active Member

New
137
Price Change
55
Sold
101
TI:9374

http://www.paulboenisch.com

ostritch
Member
ostritch

Holy poop.

Best place on meth
Guest
Best place on meth

It’s getting really interesting now.

https://finance.yahoo.com/quote/%5ETNX?p=^TNX

HAMster
Guest
HAMster

This is what many were predicting that the bond markets would force the interest rates higher and the Fed and other CB’s would not be able to stop it. The Fed has waited years too long to raise rates.

Sellnoworbepricedin4evah
Guest
Sellnoworbepricedin4evah

Global bond market crash this week. Big time. Very big time.

Causing….US 30 year mortgage rates now at 4%. This is yuuuuge. I doubt any of us saw this coming.

Sellnoworbepricedin4evah
Guest
Sellnoworbepricedin4evah

The msm will now place Vancouver as just a causality of bond markets. Some of that will be true.

Sellnoworbepricedin4evah
Guest
Sellnoworbepricedin4evah

* casualty

history
Guest
history

Enormous po

history
Guest
history

pretty big shit, iow

ostritch
Member
ostritch

Poor ol’ mega millionaire YVR homeowners, they can borrow against their homes at relatively still historic low rates and go invest in stocks, metals, ETFs, and market neutral funds. I feel bad for them.

southseacompany
Member
southseacompany

“Global Bonds Post Biggest Two-Week Loss in Quarter Century”, Bloomberg Video

http://www.bloomberg.com/news/articles/2016-11-18/global-bonds-head-for-biggest-two-week-loss-in-quarter-century

“Bonds around the world had their steepest two-week loss in at least 26 years as President-elect Donald Trump sends inflation expectations surging.”

southseacompany
Member
southseacompany

“Markets think Trump isn’t bluffing, Fortis goes on sale, and why bruised dividend stocks will rise again”, Globe & Mail

http://www.theglobeandmail.com/globe-investor/investment-ideas/gi-newsletter/article32877568/

“Rate-sensitive bank stocks have shot higher and utilities have sold off. But the bond market has made the most profound moves: Prices have fallen sharply, pushing yields virtually straight up – and it is hard to understate the importance of this.”

Oracle
Guest
Oracle

Good God…,

now there’s gonna be a bond crash. good grief.

Go to investing.com and look at yields. We are at like 2015 levels and most hedge funds have said we hit a peak until mid 2017. Then, they expect them to rise about 1% in USA and 0.5% here.

The loonie will take a hit but they will protect housing at all cost.

Oracle
Guest
Oracle

Address the root cause.

ostritch
Member
ostritch

It’s not a singular cause.

Oracle
Guest
Oracle

Immigration concentration and Foreign money.

You are a troll. Go protest outside a trump tower.

oncebittwiceshy
Guest
oncebittwiceshy

“2.355% How high the yield on the 10-year Treasury notes rose on Friday, the highest level of the year. The yield has seen its largest two-week rise since November, 2001.”

Oracle, I understand that you are defending your position, but you better position yourself for an inevitability that could be quite painful.

Regardless of the BoC’s intention to keep rates low, the bond market is going to have a different say.

Immigrants are not going to be the salvation of the housing market, my friend.

http://www.cbc.ca/news/business/immigrant-incomes-show-wide-gaps-between-groups-1.2897816

I’m hoping that the house you are building is to live in and not an investment. You can enjoy a home, an investment like this could break you.

Good luck.

Newcomer
Member
Newcomer

Oracle has no skin in the game. She lives at home and wants to rent.

chilled
Member
chilled

In a less “politically correct” city, in a blog having the same theme, under exacting circumstance, Oracle would be carried around on all the minions shoulders while being touted as the localized hero. I’ll bet he would have voted for Trump, if possible.

Oracle
Guest
Oracle

You believe that MSM propaganda?

Newcomer
Member
Newcomer

It’s STATS CAN, for Pete’s sake.

Newcomer
Member
Newcomer

Met a guy this morning who just moved here from Fort Mac. Wanted to buy a place downtown but could not find any place that would accept subject offers and he did not have enough to buy all cash. So he brought in a new build near Brentwood Mall. He expects prices to keep climbing for years to come. It appeared that he hadn’t heard anything about any kind of slowdown in the Vancouver market. To him, it’s still red-hot crazy.

Also spoke with a friend who cut his asking price for the third time since September.

vangrl
Member
vangrl
“Metro Vancouver’s new home market was negatively impacted by the recent government initiatives to slow down sales activity in the region,” according to the latest quarter Urban Development Institute State of the Market Q3 2016 report, compiled by real estate think tank Urban Analytics and released November 17. Just over 3,000 new multi-family home sales were recorded in 2016’s third quarter, which is a decline of 34 per cent from the same quarter last year and a drop of 55 per cent from the six-year record set in 2016’s second quarter, said the report. The figures run contrary to recent media reports suggesting that the new home market is bucking the downward trend seen in Metro Vancouver’s resale market. There have also been several press releases issued recently to media by developers citing recent presales successes. “Some developments are doing… Read more »
ostritch
Member
ostritch

Bears: When I drive on the west sides throughfares I see A LOT of SOLD signs slapped on some awful properties. That’s West 16th Ave, 41st, West & East 12th etc. Not good news. But not surprising when inventory is below 13K.

Oracle
Guest
Oracle

Foreign money coming in via recent PR. Can’t deposit in bank. $$ changes hand overseas, paper deal done here.

Best place on meth
Guest
Best place on meth

Surrey detached is a disaster, every bit as bad as West Van and Richmond.

Oracle, if the glue is dry on your new house you should put it on the market immediately and beat the January rush when you’ll be overwhelmed by the competition.

http://www.vancouvermarketreports.com/intranetimages/coughlinteam/users/1324/STR.Current.m7s.png

Oracle
Guest
Oracle

It’s not. Prices in N Surrey for detached up $250,000 from 14 months ago. I look daily.

Wishful thinking doesn’t make a difference.

chilled
Member
chilled

If I was a skilled animator I would do a weekly cartoon of BPOM & Oracle. Something like Simpson’s Ichy and Scratchy but without the violence. You guys crack me up!

Oracle
Guest
Oracle

Have to make the blog entertaining don’t we? Imagine this place without me? Upvote if you want me to leave.

Best place on meth
Guest
Best place on meth

I predict you’ll break the vote meter this time.

space889
Member
space889

Good thing they took out the downvotes button and this blog is left mostly with hateful racists morons like you.

Best place on meth
Guest
Best place on meth

What a shame you had to get fired tonight.

No Money Down
Member
No Money Down

What about from 6 months ago?

oncebittwiceshy
Guest
oncebittwiceshy
http://www.fvreb.bc.ca/stats/ jul – 16 jul – 15 jun – 16 $ 889,500 $ 610,100 $ 878,300 +1.3% aug – 16 aug – 15 july – 16 $ 886,000 $ 615,000 $ 889,500 -0.4% sept -16 sept-15 aug – 2016 $ 870,700 $ 625,100 $ 886,000 -1.7% oct – 16 oct – 15 sept – 16 $ 860,200 $ 638,700 $ 870,700 -1.2% Oracle, you are absolutely correct in your assertion on price appreciation from 14 months ago. I’m not a strong supporter of Real Estate Board data but you might want to consider the trend here. Perhaps look monthly instead of daily. ; )
Oracle
Guest
Oracle

Thanks man. Problem is you can’t extrapolate a few months trend to year or longer. This is what the bears do all the time. And they are wrong. BTW, top of university class in stats and iQ professionally measured in 99th percentile.

But of course Oracle must be lying 😉

Statistically speaking, the probability is huge hugeeee that that trend does not last. Watch bond yields as example going forward.

Best place on meth
Guest
Best place on meth

Yeah, but univeristy was a long time ago.

You’ve sniffed a lot of glue since then.

specuskeptic
Member

“A” students don’t need to talk about being “A” students. They just are. It’s usually “C” (or less) students who do that kind of talking….

Apparently a high IQ doesn’t correlate with a high level of commitment keeping. You promised to leave.

space889
Member
space889

You mean like how a lot of bears who have to keep claiming they were right all these past 10 years and the big crash is just around the corner? The bulls are morons who will be shown just how dumb they are?

Oracle
Guest
Oracle

Wrong again.

UBC in Crisis Mode
Guest
UBC in Crisis Mode

Delusional listing (or flipping gone bad?):
4580 W 1ST AVENUE, Point Grey, Vancouver West, $4,188,000.00
Recent Sales:
19/Apr/2015 $2,788,000
17/Mar/2015 $2,450,000

Best place on meth
Guest
Best place on meth

VCI is so much better on weekends when space has to do his back-to-back double shifts pushing the cart around at the dim sum restaurant.

So peaceful….

space889
Member
space889

It’s even better when you & your friends are out cleaning out plug toilets at Oracle’s 20+ relatives house.

Best place on meth
Guest
Best place on meth

Aw fuck, they let you off early.

Combat roach
Guest
Combat roach

Slow night in the massage parlour. Frontdesk pimps are off for the rest of the evening and can switch to the second job, 50-cent party part time posting.

Whistler or Bust?
Guest
Whistler or Bust?
Best place on meth
Guest
Best place on meth

What a surprise, more locusts.

HAMster
Guest
HAMster

Disgusting and outrageous. These locusts subvert our laws and make a mockery of our country and we stand by do nothing while these scum profit from our own ignorance. Take take take is all they know.

Blackened06
Member
Blackened06

This really makes me sick to my stomach to see how our country is going down the shitter.

No Money Down
Member
No Money Down

Can’t blame the individuals if the laws of the land permit it. I presume all development and building permits were approved by the City of Richmond/Municipality of Delta etc.

Best place on meth
Guest
Best place on meth

The laws of the land were not able to look to the future take into account the locust mentality that looks for any and all ways to make money no matter how unscrupulous or unethical.

The laws of the land were created before this invasion, when people understood what decent behaviour is.

Now the laws of the land will have to be re-written specifically with locust exploitation in mind.

Combat roach
Guest
Combat roach

Rewriting laws to address locust greed and sickness should not prevent exceptions, therefore all that shit that they build around should be bulldozed or confiscated.

Combat roach
Guest
Combat roach

There must be a legal way to deal with those wild animals otherwise at some point they should be treated as they are supposed to. No matter that they have no shame and scrupulous and yet justifying all their shit with “different culture and language barriers”, but everything has its limits and eventually must stop either ways.

Just me
Guest
Just me

The problem is that many locals benefit fom this racket.
It is a political issue: get rid of politician who aid and abet this behavior. You know who they are. And they are selling you out.

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