Friday Free-for-all! April 28th 2017

It’s the end of another lovely work-week in Vancouver-land!

And at the end of each week we have a tradition here at VCI, it’s Friday Free-for-all time. This is our news round-up and open topic discussion thread  for the weekend, here are a few recent links to kick off the chat:

House prices down, condos up
The path to bubble panic
Microsuites in bad hood only $1700
Flip-Flopped
Who’s lending money to HCG?
Bad day for lenders
Drowning in debt is the new normal

So what are you seeing out there in the streets and back alleys of Vancouver BC? Post your news links, thoughts and anecdotes in the comment section below and have an excellent weekend!

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bullwhip29
Guest
bullwhip29
Loon
Guest
Loon
Dave
Member
I went short Canadian banks this morning. It’s interesting that HCG hasn’t announced who bailed them out. All this debt is tied together, so even when the low rated stuff starts to fail, it affects everybody. Same thing with liquidity. A run on liquidity will affect everybody because it’s tied together. So, it makes you wonder if the banks or the ‘powers that be’ are just bailing themselves out here. A few calls to say the Ontario Teachers Pension fund and a deal gets done to contain the issue because it’s in everybody’s interest to paper the issue over. I wonder if some of those debts have trouble getting renewed because the capital to lend isn’t there, or the cost of capital vs. risk is too high. At 10% marginal cost of capital, I can’t see how you make money.… Read more »
ostritch
Member
ostritch

You sold the stocks you own or you bought short positions?

Dave
Member

I bought an ETF that shorts the financial sector.

HFD.to.

Shut It Down Already
Guest
Shut It Down Already

Does it reset daily?

Dave
Member

What do you mean by reset? It’s an ETF that buys short position futures on a predetermined portfolio. The ETF will grow or shrink based upon added volume or sales. All levered ETFs like this will degrade over time so you shouldn’t hold them long. It’s just a trade for me and I’m typically in and out in weeks to months. I don’t trade off the technicals of the ETF either. I normally would base it on a good related index (e.g. long financials with the same basket), or I would use a few of the larger holdings.

In this case, the Canadian banks stocks are all trending down on increasing volume, which is considered to be a bearish indicator.

KickThemOut
Member
KickThemOut

yes, it reset daily to maintain 2x exposure and hence the decay. A single inverse ETF would be better but I don’t know if one exists for Canadian financial sector.

As well, HFD is not just banks, but also insurance companies which is a different beast from banks.

An out of the money put option, or shorting HFU.TO might be a better option actually.

Dave
Member

Shorting HFU.to is a better play but you risk having your position closed mid-trade. With a volatile play like this, I don’t think that’s worth the savings. I don’t think there would be puts on these ETFs, but I haven’t looked.

Shut It Down Already
Guest
Shut It Down Already

Surely Inverse ETFs which track a volatile underlying are guaranteed to lose money over holding periods which extend beyond a few days, even if the overall trend is in your favour?

bullwhip29
Guest
bullwhip29

i think keohane brokered sweetheart/no lose deal for HOOPP and will be well compensated for doing so. not surprisingly he just left HCG and all their shareholders holding the bag. wouldnt be surprised if HCG is wound down over the wknd and savings acct holders wake up monday morning with their cash somewhere else. any bailout of losses incurred at CMHC will be funded by taxpayers…again

if anything topples, it will be RE on the fringes as credit starts to dry up. the big 5 wont go down the tubes anytime soon, but the best of times likely in the rear view mirror

Shut It Down Already
Guest
Shut It Down Already

I believe they made such an announcement yesterday.

history
Guest
history
Abdul Lahazi
Guest
Abdul Lahazi

HOOPP’s chief executive quits Home Capital board, citing potential conflict :
https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=28TB02&mobile=false
Potential conflict of interest? If this was a potential conflict then I’d like to hear their definition of a real conflict. How can they get away with these shenanigan’s?

bullwhip29
Guest
bullwhip29

i wonder if he got a finders fee and/or bonus for quarterbacking this deal? at end of day, one must must conclude that it is game over for HCG

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

B.C. Premier Christy Clark Hopes To Hit Back At Lumber Tariff With U.S. Coal Ban
http://www.huffingtonpost.ca/2017/04/27/christy-clark_n_16300232.html

“Clark said a ban will help develop the province’s liquefied natural gas industry, arguing if China shifted from coal to LNG it would have “a massive impact” on greenhouse gas emissions.”

Funkey Monkey
Guest
Funkey Monkey

I wonder if Christy go the memo that china is spending 300b on solar energy to get away from coal.

history
Guest
history

in China solar energy is gold. 300m for Canadian gold mines, but only if workers come from China.

Best place on meth
Guest
Best place on meth

I wonder if Christy got the memo that China is surrounded by countries that are awash in natural gas which can be supplied at a fraction of the cost of BC gas.

Then again, I don’t expect someone who wants to build a completely uneccessary multi-billion dollar dam that will lose even more billions once operational to understand a whole lot about economics.

Remember the 90’s!

patriotz
Member

I’m starting to think Christy is getting worried, as this tops even her usual level of BS. First of all the BC government has no jurisdiction over shipments of US coal through BC ports. Second, even if the shipments were stopped, they would just go out from US ports with a loss of BC jobs. Third, any time the Chinese want to replace coal with LNG, they can get it from the glut of existing supply, which is why BC LNG has gone nowhere in the first place.

http://www.theglobeandmail.com/opinion/christy-clark-v-donald-trump-the-proverbial-knife-to-the-gun-fight/article34831213/

southseacompany
Member
southseacompany

“Trouble on the homefront” CBC Video

https://www.youtube.com/watch?v=UamMo2uEbKA

“One of Canada’s biggest money lenders, Home Capital Group, is facing scrutiny and uncertainty after the company suggested it may be up for sale”

southseacompany
Member
southseacompany

“Will new policies to cool Toronto’s hot housing market have a lasting effect?, CBC Video

https://www.youtube.com/watch?v=pkboXt5G9IQ&spfreload=5

“Our weekend business panel discusses new government measures to rein in housing costs in Ontario”

history
Guest
history

‘Rein’ in costs by living in a chuckwagon.

Where do the MSM get their verbs? From me, history?

Giddyup horsey!! We have a long trek tonight to see our gypsy kinfolk at the Astro jubilee

bullwhip29
Guest
bullwhip29

Panda Bonds: $656 million of your tax dollars at risk
http://www.andrewjohns.ca/blog/pandabondsscheme

Abdul Lahazi
Guest
Abdul Lahazi

Ya I’d like to know what the real motivation is for this so-called investment. Why go to all this trouble for a small ROI? This could make the Fast Ferries fiasco pale in comparison.

BubbleTea
Guest
BubbleTea

So what is going to happen to the Anbang’s Bentall Centre and Retirement home deal?
Chinese authorities have also halted all of the insurance giant’s overseas investment, according to reports early on Wednesday.
Wu is connected to a $14.5 billion loan the Anbang chairman allegedly obtained illegally from Minsheng Bank. Wu used the illegal loan to invest in the stock market, the reports say. He may also have partly funded Anbang’s acquisitions with the loan, according to the reports.
https://therealdeal.com/2017/04/26/rumors-circulate-of-chinese-government-detaining-anbang-chief-wu-xiaohui/

Abdul Lahazi
Guest
Abdul Lahazi

Once again, why would anyone think Anbang could be any type of legitimate company? They come out of nowhere and start making massive investments and no one knows where the money is coming from or who the owners are. But apparently Canada is ok with all of this. Remember when Anbang tried to make some investment in the US and they were turned down b/c of their lack of transparency.

Hyper-mega-Bull
Member
Hyper-mega-Bull
bullwhip29
Guest
bullwhip29

i wonder if he is part of rennie’s inner circle too…

Combat roach
Guest
Combat roach

A small town getting excited about the presence of a second-tier actor, pathetic.

KickThemOut
Member
KickThemOut

Don’t diss / mess with NPH you loser..

Whistler or Bust?
Guest
Whistler or Bust?

I agree. No one calls NPH second-tier and gets away with it!

Best place on meth
Guest
Best place on meth

Doogie’s here! YES!

“Vancouver is a delight, especially when the sun is out,” Harris wrote in a post.

Ahh, that says it all.

Simple Solution
Member
Simple Solution

WOW, how “World Class” of us…..

squeak
Member
squeak
“Drowning in debt is the new normal” MacLean’s article. I was going to comment ” sad”, but this is not about an unpreventable tragedy but IMHO, stupidity. How the heck were these people, professionals, able to pass their exams, yet be so stupid as in bringing on this level of personal debt. Do people learn anything when they go to school, or is cheating “the new normal” in Canada? Since when did “smart” become the new “stupid”? Or is it vice versa? Are their educated minds so simple that they don’t know how to decipher and question the media brain wash/advertisements/ the jones’es/ etc. and do the simple right thing: live within your means, dummy. They bring on the debt, they pay it. I am not leasing luxury cars, having (mulitiple!!) mortgages, or carrying any credit card debt — for… Read more »
DaMann
Member
DaMann
I agree 100%!! Problem is all these idiots gorging on debt have been rewarded. Have been so for the last decade. There is a whole generation who only know that the only way to get ahead is get in debt up to their eye balls, and so far it’s working great for them. It causes me no end of frustration. The worst part is, I bet they all get there asses bailed out when it all goes to crap. Although this has been going on so long that I think high debt, greed, corruption seems to be the new world order. Without real interest rates this will just keep going on and on. With governments that in a sense have said they only give a crap about home owners, stay in power, this will keep going. NO ONE seems to… Read more »
Oracle
Guest
Oracle

Not if the people rise up. Too many pussies out there but things changing rapidly.

There is going to be a huge backlash against HAM and unfortunately Indians.

Shut it gonna be sent packing.

Whistler or Bust?
Guest
Whistler or Bust?

Indians? Please define?

Shut It Down Already
Guest
Shut It Down Already

Racists will be laughed out of town first.

ostritch
Member
ostritch

In the History Of Humnaity has there been one example of people “rising up” against free money? After a collapse, yes. But before? No.

history
Guest
history

It’s more subtle than simple revolt. The Boston tea party comes to mind, a tax protest against free money to the British Aristocracy. It’s where we are now, more or less.

ostritch
Member
ostritch

Boston Tea Party was taxation without representation. That’s free money for the monarch. Reverse of what I’m saying.

ostritch
Member
ostritch

The bail out will follow the US example. Backstop banks (already done thru CMHC), a washout of the poorest, collapse of house prices, REITS and other groups strart buying up everything for cheap, absorbing and holding inventory and then renting to everyone whose been swept out of housing. Great for the oligarchs. Not much happens to the rich.

history
Guest
history

post secondary education is designed to impoverish and neuter students. Unless it’s trade school, the student graduates broke and unable to raise a family, exactly how intended.

Abdul Lahazi
Guest
Abdul Lahazi

and brainwashed….

ostritch
Member
ostritch

+1

Combat roach
Guest
Combat roach

Right, the stupid masses were given a free artificial shit out of nothing, hence connected masters in power could enjoy their real shit in peace without spending time on wars and social unrests that will be inevitable if it were for real.

KickThemOut
Member
KickThemOut

Seems like the stupid mass is doing better than you for the last 15 years.

Best place on meth
Guest
Best place on meth

It’s “stupid masses”, you stupid chinaman.

“Stupid mass” is the rancid blob located in your commie skull.

Shut It Down Already
Guest
Shut It Down Already

Do shut up, racist moron.

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

It seems so ironic that I would refer to quora.com.

But it feels so good.

Best place on meth
Guest
Best place on meth
This means that many local officials and business people become involved not just in simple corruption, but in collusion to get the most out of the system. This is because the Chinese government often has cash and investment incentives to steer economic policy in new directions. They try to get as much out of the system, and if they get caught, oh well… If they are smart and lucky, they will already have a nice home in Vancouver, Toronto, Los Angeles, or somewhere else, and if they get caught, at least their family will be safe. It also explains why corrupt officials frequently kill themselves when caught; without the main perpetrator, the government has no recourse to get the money back, and the money remains with the family relatives, who are usually outside China. This also explains why so many… Read more »
Best place on meth
Guest
Best place on meth

Lack of morality is the base of this problem. The notion of trusting others almost evaporated in China, you are right and friends and family would turn on each other and long-standing value

In Business, Chinese are cynicism and skepticism and many people to this day is still quite noticeable.

https://www.quora.com/Why-do-so-many-Chinese-people-and-Chinese-companies-commit-business-fraud

Oracle
Guest
Oracle

Why don’t you just Fuck off. This country is for law abiding citizens. Not money launderers. Can’t believe you condone that.

Maybe you and your family should be deported.

Shut It Down Already
Guest
Shut It Down Already

You know absolutely nothing, pretend immigrant.

KickThemOut
Member
KickThemOut

Really? You missed a 15yr+ bull market in RE, permanently priced out even with a 50% crash, and you call people who got it right and living a better life than you morons? I don’t know a lot of renters taking luxury vacations to Europe, cruise, Disneyland, etc. But I certainly do know a lot of homeowners who do!

Seems more like sour grapes and jealous on your part. Is that the only way you can feel the world is fair? That people more successful than you are total morons with their money and they must live miserable lives behind all the fake happiness, vacations, better all round education & opportunities for their kids?

Combat roach
Guest
Combat roach

Spaceshit, you don’t get the point here so fuck off.

Best place on meth
Guest
Best place on meth

Like Christy Clark, space despises renters.

Oracle
Guest
Oracle

He is HAM. That’s is why we must stop any more for getting to BC.

Disease.

Ulsterman
Member
A couple of observations: 1) There’s some truth in what you say. There’s a tendency on this and other blogs for the past 8-10 years to call buyers idiots. How dumb to buy at these levels! etc etc. And yet, whether by dumb luck or not, these people have done well. Many of my friends bought 10 years ago for 400-600k and have doubled or tripled their money. Yes, yes, i know they haven’t actually crystallized those gains, but they have a truck load of sleep-at-night security that will take a massive correction to erase, and they also have had homes to live in without fear of renoviction. 2) Most of these people don’t live day-to-day like they’re rolling in money. Their 500k purchase still runs them $2500/month plus seemingly endless trips to Rona for renos. Unless they are prepared… Read more »
Bear Vancouverite
Member
Bear Vancouverite
Ulsterman, I always admire that you are willing to admit that those who bought before, whether by random luck or calculated belief have come out ahead of most of those who didn’t. Many of us on this blog have been laughing at the idiots who bought at inflated prices, many have been rubbing their hands and gleefully predicting financial doom for those who bought whether in 2014 or in 2007, and yet almost all of those ignoramus buyers have a sense of security in their huge equity now while some of us can only hope for some crazy 30-40% correction to bring us back to 2014 prices. In 2008 I considered buying a townhouse in the Oakridge region for around $700-800k. It was insane amounts of money and I ultimately declined to go forwards with it. Today similar newly built… Read more »
Ulsterman
Member
Thank you BV – you are correct. I over analysed the situation far too much back then. With the painful benefit of hindsight, I’d like to be able and go back in time and tell myself to stop worrying about buying the top. You need a home to live in first and foremost – if you can comfortably afford the payments, stop agonizing over a possible 10-20% correction and see it as a long term proposition. Much like we do in stocks. if a stock you own declines 20%, rarely is it a good time to panic and sell. In my experience those stocks (assuming it’s not a penny stock or a Nortel) have usually bounces back. In my North Burnaby hood a 40% correction (from now) would take me back to about 2008 prices. I watched SFH’s drop 20%… Read more »
ostritch
Member
ostritch

Modest is going fast from outside the LM. Another unforeseen consequence of global money.

KickThemOut
Member
KickThemOut

Talk around the office is all about voting for the Liberals, and doom & gloom if NDP gets in power, hence must stop NDP. There were some people asking just what the heck is the Green Party. But most are voting for BC Libs or convincing all their friends to vote Liberals

When I politely pointed that they came from a communist 1 state country and NDP is the closest fit we have to that, all I get is but that’s different, Chinese communist party is so much better than NDP, they know how to manage economy, it’s more free market in China, etc, etc bullshit. The cognitive dissonance is simply astounding.

Combat roach
Guest
Combat roach

So… you are back to work spaceshit…

http://newcoast.ca/Eng/Agents

Best place on meth
Guest
Best place on meth

Holy shit, the employee turnover at that criminal chicom enterprise must be 98%.

They don’t even have photos of the new scammers.

Oracle
Guest
Oracle

Go Fuck yourself if your voting for corruption to continue. Yes. Go Fuck yourself.

Shut It Down Already
Guest
Shut It Down Already

“You’re”.

history
Guest
history

corruption = loopholes… the more relevant error in her post

ostritch
Member
ostritch

If you are talking to the Chinese about China, I’m going to go out on a limb and say they probably know what they’re talking about.

Joe Condo
Guest
Joe Condo
history
Guest
history

imo, the RE market is in classic denial. so down we go, until BullTrap time.

the denial, as ive oft repeated and will again, is that ever faster Frequency of Refi’s has driven prices up. The peak was October, and the great awakening was the Steve Keen rate of refi/price correlation back in February. The jump off the clif was this week with Mortgage brokers blowing up, the Root cause of the RE insanity. People in their peak leisure years need money, derived from their houses , aided by high school drop out, boilershop mortgage writer clowns…. this is now crested… forever.

Denial is everywhere, the MSM wont touch it because the goofs in this industry are culpable as well.

Best place on meth
Guest
Best place on meth

So…..it’s not a great time to buy?

history
Guest
history

my spiel here is Refi’s, how they enable the home owner to sell the house back to themselves, pocket the baloney increase to blow on leisure travel, gambling or a cedar deck.

so… is it a good time to refi?

how you gonna do that? Bankers and Mortgage brokers, prime and sub prime, the industry is in turmoil.

No one… No ONE…. publicly, but ME, has tied in the Peak Leisure Spending, age 54. The Bullshiet Media like Globe and Mail NEVER warned about that, or the causation factors strongly timed to Bell Curve and Standard Deviation, when dealing with demographic spending, and population stats.

Whistler or Bust?
Guest
Whistler or Bust?

The MSM can barely get the names and dates right of things they report on. Do you think they know what Standard deviation is and and how it applies?

I would think peak Leisure spending would be in the 60’s when people are retired? I guess this must include second homes and ski-doo’s and such?

history
Guest
history
nope, peak leisure travel spending is tied to the expression Not getting any Younger and Life is Short. Age 54, before Freedom 55, which is a major turning point in the life, and thus put under the scrutiny of Govts and their cadre of Statistical Enginners, and the better business organizations, but not the Mortgage Industry, subprime anyway, who wouldnt know this language because the employees are dropouts and never made it to college. In Canada age 55 will be known as Slavery 55, from this date forward, as obviously, to me anyway, the 3rd sigma was reached late last year, those boomers with mortgages, 98% who heloced since Canadian QE- Flaherty mortgage changes. 1st sigma, 65% 2nd sigma, 95% 3rd sigma, 98% Tail risk showed up in February and April, when yours truly, history, nailed it all together… and… Read more »
paulb
Member

New
164
Price Change
40
Sold
134
TI:8400

https://www.instagram.com/clivestevepaul/

Best place on meth
Guest
Best place on meth

Sell/list ratio for April was 74%, down slightly from 78% in March.

Still very high and prices will be up this month.

Didaora
Guest
Didaora

Christy Clark literally turned her back on a voter, British Columbians are calling her ‘arrogant’
https://www.pressprogress.ca/christy_clark_literally_turned_her_back_on_a_voter_british_columbians_are_calling_her_arrogant

Abdul Lahazi
Guest
Abdul Lahazi

is this on video anywhere?

Best place on meth
Guest
Best place on meth

Linda looked like a poor, unwashed renter.

It’s no wonder Queen Qristy walked away in disgust.

Whistler or Bust?
Guest
Whistler or Bust?

Go Liberals. Another majority!

BubbleTea
Guest
BubbleTea

The “Iamlinda” video went viral with close to 200k views. A lot of these will turn into a vote against the liberals. Goodbye Krusty, I hope you will go to prison.

Just me
Guest
Just me

If voters don’t kick her out then they deserve her..
She is quite simply indefensible.

history
Guest
history

https://vancouver.craigslist.ca/search/apa?max_price=1000&availabilityMode=0

found this link at Wolfstreet. Over 1000 units for rent for under $1000

M aria
Guest
M aria
history
Guest
history

Mr. Wilkinson, whose film will screen in Vancouver at Simon Fraser University on May 6, says a challenge he faced during the filmmaking was the general apathy of average people. He edited down discussion about big inflows of foreign money and corruption because the topic got the thumbs down from a mixed-demographic group he uses for feedback.

“Audiences don’t relate to it, they don’t get it,” says Mr. Wilkinson. “We had a bunch of stuff about corruption and money laundering and people kept saying, ‘I don’t get it. How does money laundering work?’

because money laundering is a tool of bankers and big media, like the G&M, this part of the article got put under the microscope. Wilky wanted his movie promoted he has to kiss DeepState ass

realist
Member
realist

A pity the audiences don’t read the South China Morning Post:

“China reveals foreign addresses of corruption suspects living in Canada, US and beyond. The five Canadian addresses are all in British Columbia, four are in the New Zealand city of Auckland and 10 are scattered across the U.S.”

http://www.scmp.com/news/world/united-states-canada/article/2091356/china-reveals-foreign-addresses-corruption-suspects

realist
Member
realist

I should have added, 5 in BC, out of a grand total of 22. In other words, over 20% of China’s most wanted corruption suspects live just around the corner from you. Such a surprise!

Best place on meth
Guest
Best place on meth

That’s just the MOST wanted.

There are tens of thousands of crooks from china here.

Shut It Down Already
Guest
Shut It Down Already

4 are in Auckland, but you’ll ignore that because it doesn’t fit your narrative.

Just me
Guest
Just me

What is your point? Are you stupid enough to miss the simple fact that we have become a favorite destination for criminals?

Shut It Down Already
Guest
Shut It Down Already

Auckland is smaller than Vancouver but has roughly the same number. Kind of silly, then, that you’d be calling me stupid when you’re the one who doesn’t get my point.

realist
Member
realist

Auckland at 1.6 million population is smaller than Vancouver. And just like Vancouver, it has a raging hot property market:
From the Guardian: “Why Auckland is the Hottest Property Market in the World”
https://www.theguardian.com/world/2016/sep/07/why-auckland-is-leading-the-worlds-housing-market-boom

history
Guest
history

Joseph Farrell–there is a parallel and hidden system
of finance run by the intelligence agencies…& it is a looting system.
https://youtu.be/pHBBxtxuJVE?t=2651

Just me
Guest
Just me

Is anyone surprised any more? Vancouver has become money laundering central. That is how boomers pay for their retirements.

Best place on meth
Guest
Best place on meth

None are in Ottawa because they can summon Turdeau to come to Richmond any time they want.

http://www.scmp.com/news/world/united-states-canada/article/2057808/trudeaus-liberals-were-told-donor-was-china-graft

Whistler or Bust?
Guest
Whistler or Bust?

I must say this is defining the conversations of many people I talk to. More than ever before. I think it started when condo rents started to move up and supply went down. Now many people don’t even have the option of renting.

I have been very public on this forum about my 5 years lease in Kerrsidale (from Chinese overlord who is an excellent landlord btw) but if I did not have this I might too be angry if I couldn’t find a good house to rent for my family.

Ulsterman
Member

A friend of mine is a lower-income renter in her 40’s intending to vote Liberal. I was surprised, and asked her why she’d be doing that given she appears to be a prime candidate for the NDP. She replied with “my rent has hardly gone up and my MSP premiums just went down.” I suggested that if she ever moves apartments she may get a nasty shock – she’s been in the same place for years. It is interesting how people think and also explains how the Liberals were able to pull off that surprise victory four years ago.

Combat roach
Guest
Combat roach

And yet everyone avoids to point the finger at the Chinese locust who is the essence of the housing problem in the city for the last 20 years but tiptoeing around low earners living in expensive homes, about homes being investment instruments and laundromats, wealthy foreign students, astronauts etc. This housing disaster won’t get resolved until hypocrisy and false political correctness are gone and society tackles problem from the right side.

Shut It Down Already
Guest
Shut It Down Already

“False political correctness” such as understanding foreigners account for ~10% of transactions leaving locals responsible for the vast majority?

The correct way to tackle the problem isn’t to point the finger at those who are richer than you, but at the government which supports the idea of housing as a retirement investment plan and therefore defends ever increasing prices.

Combat roach
Guest
Combat roach

They are mutually inclusive. If there weren’t the formers, the latters would have nothing to support, right. Locals would never be able to drive prices at the current levels no matter how rates are low or money cheap. That kind of “culture” or “psychology” would never take place here if it weren’t brought by extreme numbers of capable (corrupted, greedy and RE hungry) Chinese. Welcoming and supporting of those came along as a convenience for the government.

Shut It Down Already
Guest
Shut It Down Already

You say that like we don’t have stats….

ostritch
Member
ostritch

It’s global money. From a bunch of countries around the world. And money printing, criminality and excess borrowing. We’re in a stew. It’s not JUST the Chinese. Go to Britain. Ain’t Chinese there and it’s even more $$$$$$

Best place on meth
Guest
Best place on meth

Chinese are in Britain and they also have Russians, Saudis, and other vermin who have raped their own countries and are laundering the proceeds in real estate.

The scum of the earth are destroying life for the residents of all English speaking countries.

The chinamen just happen to have the greatest numbers.

ostritch
Member
ostritch

And how is this different from Euro-honkeys arriving here. Rich scum have always ruled.

Best place on meth
Guest
Best place on meth

“Where we struggle with it is that people will often say, ‘So what? That’s just free money into our system, and money is good, right? Who cares if [buyers] are from another country or whoever comes here with $1-billion. It trickles down, right?’’

Yep, that sounds like your typical Liberal voting twat.

I wonder how space was able to get himself interviewed for this film.

YVR
Guest
YVR

With the NDP you get all the negatives of the BC Liberals but pay higher income taxes with lower user fees. That just makes it worse. HAM gets the benefits of the lower user fees and doesn’t pay income taxes. You get the pleasure of paying for both you and HAM 100%. The NDP will never target HAM because it is politically incorrect. Just like the former NDPer Gregor Robertson said it is racist to tax foreigners.

Just me
Guest
Just me

You are so full of it, it is not worth even responding.
Anyway, here it goes: if you have any leftover self respect you should not vote for Kruelty Clark. The BC Libs have quite literally sold out the city to the Chinese. If you are blind (or stupid) enough to miss this, I feel sorry for you.
We need change.

Bestplaceonearth
Guest
Bestplaceonearth

What ever party a person votes for, does not involve you. Why are you trying so hard to put your nose on other’s business. In case you don’t know, hulk does needs anger management.

Best place on meth
Guest
Best place on meth

I’ll take Hulk’s geniune anger over Corrupt Cunt’s fake smile any day.

We should all be angry at the traitors, and we have lots of trees to hang them from.

Shut It Down Already
Guest
Shut It Down Already

I’m pretty sure BPOM is one of the people who would benefit under the NDP.

Combat roach
Guest
Combat roach

At least to benefit morally by ensuring that corrupted officials/criminals, are not running the country.

history
Guest
history

http://jessefelder.tumblr.com/post/160086155415/why-have-bankers-become-so-bearish

“Considering the consumer makes up two-thirds of economic activity it’s hard to avoid coming to the conclusion that the broader credit cycle is in late, if not extra, innings. This is far more important to both bank earnings and the overall economy than anything else.”

specuskeptic
Member

‘Twas very busy at the advance poll this morning – boomers everywhere. Millennials may just get pushed to the back of the bus again lest they show up.

While in the lineup, I had a moment to ponder our esteemed premier’s Marie Antoinette moment in West Van…

As I stuffed my ballot into the box, I had a Herman Melville moment. “From Hell’s heart, I stab at thee….”

Fomo
Guest
Fomo

Same experience here. Boomers everywhere at my early voting location. Eager to protect their only wealth.

history
Guest
history

Boomers have lots of time on their hands since most dont work and travelling is a bust this year sine the Deep State stopped spraying Chemtrails, allowing the local climate to revert to its mean (sorry, that last word might be too much for the dropouts to get)

Best place on meth
Guest
Best place on meth

I’m under the impression that Vancouver’s weather went back to it’s shitty, cold, wet norm once an unusually long El Nino ended last June.

history
Guest
history

New science and tech tends to be weaponized first. The war during our time is financial, fought on a subjective playing field. Rules and boundaries are ill defined and Subject to change.

Bear Vancouverite
Member
Bear Vancouverite

@YVY – you stated that the NDP would remove the Foreign Buyer’s Tax when they come into power. David Eby says explicitly in a video released today that they would keep the FBT and possibly expand it:

You can see the exact question and answer here:

https://youtu.be/7yRczBxZBhs?t=2m52s

He does state they might refine it to exempt locals who work and live here, which is consistent with what he’s said in the past.

I posted this because I myself was unsure whether the NDP would keep the tax.

This means that Eby believes in keeping the 15% FBT AND adding the additional 2% surtax for speculators and people who do not pay income tax in BC, which is fantastic.

YVR
Guest
YVR

He does state they might refine it to exempt locals who work and live here

Refine the foreign buyers tax to exempt locals? LOL. The locals are already exempt unless you are talking about those Chinese locals who fly in once per year with a suite case full of cash. “Refine” just means put in loop holes you can drive a truck through so anyone (HAM) can avoid the tax. Remember to the NDP taxing a foreigner is racist. Also remember with the NDP they govern by consensus so what Eby thinks is only one vote in a group of politically correct morons.

Best place on meth
Guest
Best place on meth

“Remember to the NDP taxing a foreigner is racist.”

No, you are confusing the NDP with Mayor Moonbeam and the BC Liberals – Eby himself has come out against the bullshit race baiting.

http://vancouversun.com/news/staff-blogs/nothing-racist-about-metro-housing-study-experts-say

But Eby suggested a fear of inciting bigots is no excuse to deny all the causes behind Metro’s runaway housing prices. They include investor-class immigration programs that came out of Ottawa and continue through the backdoor of Quebec.

Since many people are confused about the meaning of the divisive term racist, which connotes superiority, Yan has publicly asked an important question: “I am curious about how the mayor defines racism.”

Shut It Down Already
Guest
Shut It Down Already

Using racial slurs qualifies, wouldn’t you agree?

You’re proud of your opinions, so you should be just as proud of the label which comes with them.

patriotz
Member

“Remember to the NDP taxing a foreigner is racist”

Bare faced lie. Nobody representing the BC NDP has said this. Why do you feel the need to like like this?

“Also remember with the NDP they govern by consensus so what Eby thinks is only one vote”

Eby is the NDP housing critic. What he says publicly is the position of the party.

Pants on fire.

YVR
Guest
YVR

Bare faced lie. Nobody representing the BC NDP has said this.

Gregor Robertson former NDP MLA, Geoff Meggs former NDP candidate to name a few. This is what the NDP stands for. Politically correctness to a fault.

YVR
Guest
YVR

adding the additional 2% surtax for speculators

Wow a 2% tax on speculators. That should stop someone from flipping a house. Plus with the “refined” foreign buyers tax it means 13% less total on a foreign property flip.

Bear Vancouverite
Member
Bear Vancouverite
2% doesn’t sound like a lot, but we’re talking about 2% on assets that are in the hundreds of thousands and millions of dollars in value. I’m personally very confident the 2% surtax will do quite a bit and will also help to capture tax income from anyone earning income outside of BC. 2% on a $3M home in Kerrisdale is $60k a year, and the only way to offset that entire amount of tax is for the person living in that home to have paid $60k in income taxes. So all those new and recent homeowners who live in multimillion dollar homes will suddenly find themselves paying the equivalent of a very high income tax. UBC Student with a $34M house that doesn’t know what her dad does to earn income? No problem, here’s your $680,000 yearly surtax. I’m… Read more »
ostritch
Member
ostritch

It’s a well thought out policy, I hope whoever wins adopts it.

Just me
Guest
Just me

There is no chance in hell that Christy Clark and theBC Libs would ever adopt such a tax. It would tax Chinese millionaires, and the BC Libs would never allow that.

YVR
Guest
YVR

Problem is the NDP have backed off that plan and now the 2% just applied to foreign speculators. It is no longer for people who live here and pay low or no income taxes which makes it useless.

southseacompany
Member
southseacompany

“Canada’s Housing Market – Benjamin Tal”, Global Risk Institute

https://www.youtube.com/watch?v=lXVjaGP9J9Q

“Canada’s housing bubble is the economy’s biggest risk—and its biggest driver. Now governments want to cool it down. Find out what change and pain are headed for Canada’s housing market.”

1 hour video

Best place on meth
Guest
Best place on meth

Anyone who watched the debate got to witness the pure evil that is Christy Clark mocking Horgan for his renter tax credit, taunting him mercilessly “it’s only a dollar a day!” even though she has offered renters exactly zero compared to all the goodies she treats homeowners to. Giving breaks to “wealthy renters” she said the first time she heard about it.

Now, as a renter I realize it’s not much of a break considering how stupid high the rents are here but then again I’m not going to to scoff at an extra 400 bucks added to my refund at tax time.

What’s really interesting to me is the implications in implicating landlords who haven’t been reporting their income as they should.

https://deadfortaxreasons.wordpress.com/2017/04/12/bc-election-the-ndp-rental-rebate/

YVR
Guest
YVR
Why didn’t Horgan respond with something better? If that is all the NDP is going to do it amounts to nothing. I though the NPD were going to make housing more affordable? If they are going to do that why does Horgan not come forward with the plan? Maybe he is just dumb and couldn’t think of all the things they are going to do? Or maybe they aren’t going to do anything after all, except the $400. Who give care about $400. It is a $1 per day. n the other hand that $400 is like 2 weeks of income tax the NDP will increase. You will pay it back 26 times over. Unless you claim no income of course. HAM renters will like it. I wonder if HAM will rent their basement suites to themselves to get the… Read more »
Best place on meth
Guest
Best place on meth

“I wonder if HAM will rent their basement suites to themselves to get the $400?”

Amazing, I was also thinking about how the cheaters will find a way to take advantage of this credit.

Anyway, when I cast my vote for the NDP it will be a vote for Eby, not Horgan as the housing situation is my #1 priority.

It will also be a vote against evil traitors.

history
Guest
history

Exploiting loopholes using false pretense got them in the country, unfortunately that sets the trend. We’re stuck with them forever, may as well as recruit this group for future bucket shops and boileroooms.

BubbleTea
Guest
BubbleTea

Looks like my rent just went up $400. Thanks for nothing, Krusty.

patriotz
Member

“n the other hand that $400 is like 2 weeks of income tax the NDP will increase. You will pay it back 26 times over. ”

Who’s “you”? The NDP is proposing to raise the marginal tax rate for the amount over $150K to 16.8 per cent from 14.7 per cent, ONLY. So the very few making $200K would pay an extra 2.1% on $50K, which is $1050, or less than $20/week. For someone to pay $200/week more they would need a taxable income of over $650K/year, which is almost nobody.

Why do you feel the need to lie like this?

Ulsterman
Member

Patriotz, all those so-called, math-backed “facts” you cite are so booorrring.

ostritch
Member
ostritch

And proven useless, which is the most remarkable thing.

Just me
Guest
Just me

The only useless thing is to abdicate your judgement, stop thinking and vote for the BC Libs yet again.
If you vote for them, you have absolutely no right to complain about the state of our housing market.

YVR
Guest
YVR

Do the math before you believe an NDP shill. Taxing the 1% slightly more pays for next to nothing. People are so naive.

YVR
Guest
YVR

The NDP is proposing to raise the marginal tax rate for the amount over $150K to 16.8 per cent from 14.7 per cent, ONLY.

Problem is that pays for like 1% of their promises. Where does the other 99% of the funding come from? Either they are lying about what they are going to do or they will raise income taxes on everyone as I stated.

Rediculous
Guest
Rediculous

The actual amount being offered to renters is irrelevant, instead, the NDP is signalling that they will not treat renters as second class citizens and losers as Christy Clark has.

Blazing sun
Guest
Blazing sun

You’ll rent forever loser

Ulsterman
Member

My wife and her friend just sang at the opening of the Parc East development today in Port Coquitlam. It’s a four story development with about 60 units. Food truck, live music, balloons etc etc. I just picked her up and asked how it went. Well she said, they only have four units left.

No question the condo market is roaring ahead.

Best place on meth
Guest
Best place on meth

$1000 deposit with 7 days to back out.

They’re probably flipping them as we speak.

Confucius
Guest
Confucius

There’s only about 7+ building cranes viewable from most skytrain stations. Nothing to be concerned about.

ostritch
Member
ostritch

Did she see the crowd walk away with paperwork or does she think they were pre-sold in Asia as is often the case? Either way, we are F’d.

Kind of reminds me of the scene in the Good, The Bad and The Ugly where Lee Van Cleef beats and tortures confederate soldiers in his quarters while making the rest of them play music outside to muffle the sounds.

Hyper-mega-Bull
Member
Hyper-mega-Bull

CANADIAN IMMIGRATION FIRM SEES A BOOM IN THE TRUMP ERA

In the Trump era, there has been a spike in inquiries from highly skilled job seekers looking for permanent residency.

http://www.newyorker.com/news/news-desk/canadian-immigration-firm-sees-boom-in-the-trump-era

history
Guest
history

we’ll sell them the bull trap.

Doomcouver
Guest
Doomcouver

Unless they like working part time at Tim Horton’s and living in a van, they’ll be leaving to go back to the USA before too long.

LS in Arbutus
Guest
LS in Arbutus
history
Guest
history

same guy owns this site
https://canadianmortgagetrends.com/canadian_mortgage_trends/2017/04/lender-spotlight.html

in Robs latest offering he is saying it will take THREE times longer to process a refi, in the current environment.

RE Prices going down folks.

I would suggest Clark stay on top of Loan Processing Time if she wants her bucket shops and boiler rooms to operate as efficiently as last year, and save home moaners precious equity.

history
Guest
history

https://canadianmortgagetrends.com/canadian_mortgage_trends/2017/04/goodbye-mr-mclister.html

issued April 30. Rob McLister leaving CMT, or so he says.

Rob, your problem, and the industry you represent, was doing your job too well. The velocity of Refi’s contributed Directly to the bubble. The stark, stunning awareness of the spit and polish in your industry, and all the labour and processing savings in refi turnover, drove RE higher and higher, year in and year out.

Now, Spectacularly, it’s blown up in your face, your industries (bucketshop/boileroom) face, and the MSM.. who are still in denial, googling standard deviation, sigma, and other statistical terms.

Rob McLister is gone from CMT because parabolic blowoff has occured, it wont come back, and he knows it.

Just me
Guest
Just me

Eyes fixed on the camera, a frozen fake smile, she said: “we want to preserve the equity that homeowners have in their houses, we will nit put in place measures that might jeopardize that equity”.
This is our current premier, Christy Clark, on April 26, 2017 . After a five year runup that doubled prices of many already expensive abodes, pricing out a whole generation.

Today I am going to give my vote to the NDP. And the only reason I do it is to kick her out. She needs to go, if we want at least some hope of change.

history
Guest
history

so, refi’s again top the llist.

Can Clark actually put in place policy that increases refi velocity, and thus maintain her promise? Is this the bull trap mechanism?

Best place on meth
Guest
Best place on meth

Her fake, frozen smile is a defense mechanism and is deployed automatically without her realizing it. Unfortunately she is unable to control it and it shows up at the most inapropriate moments, like when she’s talking about children in government care committing suicide.

Classic sociopath.

The run in with Linda at the grocery store was a nice follow up to this debate moment at 39:20

http://globalnews.ca/video/3408262/bc-leaders-debate-2017/

We don’t need no stinkin’ trust!

specuskeptic
Member

Doc specu thinks “Narcissistic Personality Disorder” is a bang on diagnosis…

DSM-5 criteria for narcissistic personality disorder include these features:

Having an exaggerated sense of self-importance
Expecting to be recognized as superior even without achievements that warrant it
Exaggerating your achievements and talents
Being preoccupied with fantasies about success, power, brilliance, beauty or the perfect mate
Believing that you are superior and can only be understood by or associate with equally special people
Requiring constant admiration
Having a sense of entitlement
Expecting special favors and unquestioning compliance with your expectations
Taking advantage of others to get what you want
Having an inability or unwillingness to recognize the needs and feelings of others
Being envious of others and believing others envy you
Behaving in an arrogant or haughty manner

http://www.mayoclinic.org/diseases-conditions/narcissistic-personality-disorder/basics/symptoms/con-20025568

history
Guest
history

Look up asteroid 37117. Find it in your birth chart by house and sign. Get back to me, and i will advise you Where You are Full of Yourself 😉

Just me
Guest
Just me

That clip is unbelievable. When asked about corruption, salary top ups and RCMP investigations into illegal donations from private coroporations, she exhibits the frozen fake smile and completely ignores the question.
Just like she did with that Linda lady in the North Van grocery shop.
If you vote for her, you deserve her and will pay the price for your moronic choice. That I can guarantee.

history
Guest
history

She was ‘touched’ and didnt like it.

Whistler or Bust?
Guest
Whistler or Bust?

Linda was a plant by the NDP.

ostritch
Member
ostritch

Stop. Your hyperbole is making me want o vote for her.

KickThemOut
Member
KickThemOut

I know..she should have said, nuke China! Stop the yellow peril! $100 for every scalped locust head!

That will get your votes wouldn’t it?

ostritch
Member
ostritch

Now you’re really making me want to vote for anyone you oppose.

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