Friday Free-for-all! April 7th 2017

It’s the end of another work week and that means it’s time for another Friday Free-for-all! This is our regularly scheduled end of the week news round up and open topic discussion thread for the weekend.  Here are a few recent links to kick off the chat:

Hot housing market could drag down Canada
A 2% tax for owners who don’t file income tax
REBGV stats for March
Wide open for money laundering
Sales down 31% over previous March
BMO: the solution isn’t more tulips
RCMP reviews swap of $130m land for $15m

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

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LS in Arbutus
Guest
LS in Arbutus
I’ve never given a political donation before, but I am thinking I should *at least* throw $100 David Eby’s way. After tax it would cost me $25. A $200 donation would cost you $75. A $500 donation would cost, after tax, $225. People need to start donating if you want a different government. Political Contribution Tax Credit The political contribution tax credit is for individuals who make eligible contributions to registered B.C. political parties, registered B.C. constituency associations or candidates for an election to the Legislative Assembly of B.C. The credit is calculated as the lesser of: The total of: 1) 75% of contributions up to $100 50% of contributions between $100 and $550 33 1/3% of contributions in excess of $550 2) $500
LS in Arbutus
Guest
LS in Arbutus
I got that wrong. Must be old info. I just went to donate. $500 costs you $150 after tax. $400 cost you $100. Do it!! They need $$$. All Canadians with taxable income receive generous tax credits when they donate to Canada’s NDP. For example, a donation of $500 costs you just $150. All donations received before December 31 are eligible for tax credits in the new year. You get back 75% for the first $400 you donate. 50% for the next $350 you donate. 33 1/3% of the rest up to a total tax credit of $650. You can give a maximum of $1,550 a year to Canada’s NDP. You can also give a maximum of $1,550 a year to all local campaigns, riding associations, or nomination races combined. And you can also give a maximum total of $1,550… Read more »
LS in Arbutus
Guest
LS in Arbutus

Sorry, correct the first time. The first one is the tax credit regime for PROVINCIAL donations, the second (and more generous tax credits)for FEDERAL donations.

ostritch
Member
ostritch

Bad move on your part Van Girl wherever you are.

YVR
Guest
YVR

The S&P 500 has returned 270% since 2009 with dividends. In the same period Kits condos are up about 50% at best plus about a 2% return per year for net rent or a 70% total return. SFH did a little better but still nowhere near the S&P 500. I think I will take the 270% of the S&P 500 without managing tenants, plunging toilets and worrying about collecting rent cheques.

ostritch
Member
ostritch

Did she sell and put 100% of her money in the S&P in 2009? No. What a dumb thing to compare it to. She also missed out on the tax-free exemption of selling it in today’s market. Burn. And now she’s at the mercy of some landlord in Richmond. Bad move.

history
Guest
history

Kits dont care about rents. False analysis. Extractable (liqiudity) to the refi broker. SPX is built on share buybacks so that American silver spoon punks like newComer can move to lalaland and look for cheap labour to exploit. FU…wander out of your Vcr hotel lobby at your peril

southseacompany
Member
southseacompany

“Pressure is growing for the Bank of Canada to raise interest rates”, Macleans

http://www.macleans.ca/economy/economicanalysis/pressure-is-growing-on-the-bank-of-canada-to-raise-interest-rates/

“Bank of Canada Governor Stephen Poloz insists the economy is weaker than it appears, but that argument is now in trouble”

history
Guest
history

Garbage link and analysis. Rates may spike down now so the LOOOSERS have one last chance to refi, WITHOUT extraction… then you know its over… i’ll be busy using crapped out Asian factory waste to build debtors prisons, if you havent figured already out you’re an Insolvent slave

Newcomer
Member
Newcomer

He’s right in the same that he would be right in saying that taking the smack away from a junkie could be bad for him. Take away the free money, and things might not look so rosy.

YVR
Guest
YVR

Yup, either way it ends badly. The only question is who’s watch it ends badly under. They prefer to let the junkie die if it can happen under someone else’s watch.

Just me
Guest
Just me

Agree with the diagnosis. I would add that Poloz has made it clear tgat Canada should have a weak dollar to thrive. It’s his mindset. He will do whatever he can to depreciate the currency.

Doomcouver
Member
Doomcouver
Higher US interest rates will start pushing our mortgage rates up regardless, so it may not matter what the overnight rate is at the BoC. A lot of Canadian banks have loans in other countries including a lot in the USA so they will demand higher interest rates from Canadians if they can get better rates from the USA. The real problem will be dollar inflation is going to start pushing overall inflation in Canada. We’ve already seen it happening with gas and food, but if we start hitting historic lows on the CAD to USD (low-60 cents) it will force the central bank’s hand and they will have to raise rates to avoid our dollar becoming too worthless. I think they’re better off raising them now and taking the hit than letting inflation ramp up and making the real… Read more »
ostritch
Member
ostritch

It’s Friday is anyone looking at what sold in Kits? Kits is GONE. Prices ridiculous.

Just me
Guest
Just me

What are you on about? There ismalmost zero supply in Kits right now. Unless you want to live in a shoebox.

ostritch
Member
ostritch

Are you unable to read? Gone as in completely unaffordable. What are you on about? 1970s-80s North of 4th at about $1000/sq ft.

Just me
Guest
Just me

It has been like that for almost two years now. It is not news.

ostritch
Member
ostritch

Not true. Two years ago crappy 70s 80s sweat boxes were not getting $1K/sq ft.

history
Guest
history

Kits residences have a new govt. the pilot that takes them to the South Seas, after tri-annual refinancing.

Vancouver Review
Guest
Vancouver Review

Apr 7, 2017 Daily Review Vancouver Real Estate Housing Bubble News

https://youtu.be/oO2ZYU5ElNk

Best place on meth
Guest
Best place on meth

Krusty’s commute

https://www.youtube.com/watch?v=995e1ZC2dEQ

Also, NDP launched a brutal attack ad about her corruption. If they keep hammering her on this day after day she’ll lose.

That’s all they need to do, be vicious,merciless and relentless about her corrupt, morally bankrupt character.

YVR
Guest
YVR

“That’s all they need to do”

They need to do more when all they get is 75 views on a youtube video.

Best place on meth
Guest
Best place on meth

That wasn’t the NDP video, their ads are on TV getting plenty of viewership.

Just me
Guest
Just me

She does not earn enough to pay for her own car.
We should be grateful she is still willing to do the job for such insignificant salary.

Just me
Guest
Just me

I know it is getting boring with this stuff, but just for shows.

Millions in political donations prompt call for review of B.C. mining regulations

http://www.cbc.ca/news/canada/british-columbia/millions-in-political-donations-prompt-call-for-review-of-b-c-mining-regulations-1.4058998

I can’t keep pace the number of bribery allegations….information overload.

history
Guest
history

rest your mind and vow never to read another CBC. link. They dont speak for Canada, or Canadians. Garbage link

Doomcouver
Member
Doomcouver

Yeah I can’t watch CBC anymore. There isn’t even a veneer of objectivity left, they have gone full liberal mouthpiece at this point. It makes me sick my tax dollars fund this liberal garbage propaganda.

history
Guest
history

http://www.zerohedge.com/news/2017-04-07/david-rosenberg-bubble-historic-proportions

once again, a media mouthpiece is found hacking at the Housing Beast branches.

while Your VeryOwn VCI ‘history’ has vanquished the minotaur, slayed the medusa and crunched the kraken. It is me, history, that eviserated the belly of bullsheit artists on this forum to come up with the Real Bubble in Housing and its Cause.

paulb
Member

New
152
Price Change
47
Sold
91

TI:8175

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

Just me
Guest
Just me

Less than 2/3 sell/list on a Friday? Now, that is some good news.

Shut It Down Already
Guest
Shut It Down Already

It’s a meaningless ratio when you look at a single day – the listings might have been today but the sales lag.

Just me
Guest
Just me

Still better than staring at a 159% figure.

fomostyle
Guest
fomostyle
BEIJING: China’s new rules on overseas currency transfers are not capital controls, the official Xinhua news agency reported, even as some banks told customers that purchases of foreign currency for property, securities and life insurance were not allowed. Capital outflows have been a growing concern for the government in the past year as it attempted to put the economy back on track and keep the currency stable without exhausting its foreign exchange reserves, which tumbled to $3.052 trillion in November, the lowest in almost six years. Starting in July 2017, banks and other financial institutions in China will have to report all domestic and overseas cash transactions of more than 50,000 yuan ($7,201), compared with 200,000 yuan previously, the central bank said on Friday. Banks will also need to report any overseas transfers by individuals of $10,000 or more. The… Read more »
fomostyle
Guest
fomostyle

^ this outta fix things. From $50 per year down to $10 k a year. 4 friends/family would have $200k cash for DP, now $40k

Best place on meth
Guest
Best place on meth

Demand for smurfs increases fivefold.

Smurf wages go through the roof.

This is inflationary for the Locust Republic.

Newcomer
Member
Newcomer

And those smurfs have got to live somewhere. They’d be living ten-to-a-room in Surrey and driving rents through the roof.

Best place on meth
Guest
Best place on meth

Your Oracle impersonation is mediocre-to-lame, you should stick with your space impersonation which is frighteningly spot on – really scary, actually.

It’s so real.

That being said, you should never go full retard.

southseacompany
Member
southseacompany

“How Canada completely lost its mind over real estate”, Macleans

http://www.macleans.ca/economy/realestateeconomy/how-canada-completely-lost-its-mind-over-real-estate/

“Canada’s out-of-control real estate market has now gone totally mad­—and there’s no turning back”

squeak
Member
squeak
Re: “and there’s no turning back” What does that mean? It is going to crash? Or the house prices are going up forever? If, Going up forever: Then no Canadians can live in BC anymore (unless they choose to live in microsuites, aka closets, and work in minimum waged service jobs) , BC will be sold off to the foreign country. If not already done… I bet on the former, b/c nothing goes up forever, but crashes seems to “happen” now and then. At least that is what I have noticed, but then again, with this current spinny system, if there is a crash, a lot of euphemisms will come out of the woodwork and the “crash” will be “reframed”, redefined, reworded, reinvented, re- this, re – that. Whatever it takes to keep the boiling frog happy and the people… Read more »
history
Guest
history

pretty good post, but what are we really frustrated about? Women between 20 and 40 hoping to get in the family way on BCs coast may need to take a hard look at themselves and decide if thats what they want, they may want to move to Where The Men Are. Try North.Manitoba, and North.Ontario mining aeas.

squeak
Member
squeak

Eh? Huh? What?

Shut It Down Already
Guest
Shut It Down Already

Don’t do drugs, kids.

history
Guest
history

talked to a woman today who is trying to get the family mojo going, while living in a tiny basement suite. Good luck sweetheart, Why not marry a Kenora gold miner?

I know there’ a few info gold miners on this forum, carefully snatching the interesting nuggets of knowledge, but when they come up with Pyrite info, they scream and make insults… Already, Newcomer, ostrich, to name a few. FU

Newcomer
Member
Newcomer

That true. You can’t really get pregnant without at least 1500 sq ft. Just look a cities in East and Southeast Asia. Nobody gets pregnant there.

Best place on meth
Guest
Best place on meth

Now THAT is some decent sarcasm!

Well done, space.

patriotz
Member

“THAT is some decent sarcasm”

Actually it’s unintentionally un-sarcastic. Many of these cities rate among the lowest birth rates in the world.

history
Guest
history

sniveller has the ulimate handle on demographics, reproduction and fertility, taught at the UN school of clusterfuck (war) demographic transition. Dont be fooled why our country is spoiled by soros rapefugees, its bathouse fcks in ottawa doing his bidding.

Combat roach
Guest
Combat roach

How Canada completely lost its mind over real estate?

A result of a pandemic infectious mental disease caused by organisms brought directly from China without any control and under the unprecedented support and orchestration from the governments and bankers.

Shut It Down Already
Guest
Shut It Down Already

So you didn’t read it then?

history
Guest
history

never any deep, penetrating, forward insight. Mostly rear guard and flank from U. We tromp over Europe in the employ of Napoleon, we both do good, until i take a vacation in Holland. You stay with the megolomaniac and try flank into Russia, until u realise NO Mountains

history
Guest
history

Chinese leisure travel for RE buying jaunts, really isnt all that different from Canadian homeowners lust to wear thongs in Cabo.

but i understand your frustration, Chinese buyers control the RE margin. Fire a few missiles symbolically, or slam a cyclone into their Margin suppplier of coking coal, if you want their attention.

Sebastien
Member
Sebastien

Follow up on Richmond:

2-7600 Gilbert Road, Richmond
Oct 20:$768,000
Apr 6: $599,000
Change: – 169,000 -22%

Sebastien
Member
Sebastien

Burnaby loves the 8s:
7456 Pandora Drive, Burnaby
Mar 1:$2,399,999
Apr 6: $1,888,000
Change: – 511,999 -21%

southseacompany
Member
southseacompany

“‘Cease and desist’: Bay Street calls on Poloz to drop rate cut talk and take aim at housing”, BNN

https://www.bnn.ca/cease-and-desist-bay-street-calls-on-poloz-to-drop-rate-cut-talk-and-take-aim-at-housing-1.718186

““The BoC should cease and desist with talk of possible further rate cuts, which simply fuel the sense that rates are never going higher, and instead start warning that rates will someday rise,” Doug Porter, chief economist at BMO Capital Markets, told BNN via email.”

bullwhip29
Guest
bullwhip29

Why political campaigns in B.C. are sometimes waged in court
http://www.straight.com/news/892296/why-political-campaigns-bc-are-sometimes-waged-court

“There’s nothing stopping the developer involved in the land deal, B.C. Housing officials, or even the minister responsible for B.C. Housing, Rich Coleman, from launching their own defamation suits to determine who told the Sun that an RCMP investigation was indeed underway.”

>>> such a manoeuvre would be right up Krusty’s (back) alley…

bullwhip29
Guest
bullwhip29

B.C. to complete purchases of land along Vancouver Island trail
http://vancouversun.com/news/local-news/b-c-to-complete-purchases-of-land-along-vancouver-island-trail

“The government said Thursday it intends to purchase 83 hectares along the trail from Marine Trail Holdings, but will not disclose the price until the deal is final. ”

“…this is just a tiny portion of the land that the government deleted from the tree farm licence to be sold to private interests in 2007…”

““If this is the same parcel, then this is a case of our government buying back a clearcut that it handed over to be destroyed for corporate profit in the first place, and then spinning it for positive publicity a month before the election.”

Shut It Down Already
Guest
Shut It Down Already

Different government.

bullwhip29
Guest
bullwhip29

Top loonie forecasters see weakness ahead on more Fed rate hikes
http://www.theglobeandmail.com/report-on-business/top-loonie-forecasters-see-weakness-ahead-on-more-fed-rate-hikes/article34626758

“The Canadian dollar will weaken in the coming months, as the Federal Reserve is expected to continue increasing rates while the Bank of Canada is bound to stay put, according to the currency’s highest-ranked forecasters.”

bullwhip29
Guest
bullwhip29

All 3 levels of government to meet over Toronto’s hot housing market
http://www.cbc.ca/news/canada/toronto/it-s-a-date-all-3-levels-of-government-to-meet-over-toronto-s-hot-housing-market-1.4059490

Lu Han, a Petro-Canada Associate Professor of Business Economics, says government should be “very cautious” about any policies it may adopt.

bullwhip29
Guest
bullwhip29
southseacompany
Member
southseacompany
bullwhip29
Guest
bullwhip29

Richmond Chinese election ads slam ‘moral destruction’ in East Vancouver
http://vancouversun.com/news/local-news/richmond-chinese-election-ads-slam-moral-destruction-in-east-vancouver

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

‘A peak year for travel into Canada’: Hotel sector investments hit $4B as weaker loonie attracts Chinese capital
http://business.financialpost.com/news/property-post/a-peak-year-for-travel-into-canada-hotel-sector-investments-hit-4b-as-weaker-loonie-attracts-chinese-capital

Hyper-mega-Bull
Member
Hyper-mega-Bull

Film industry is also booming and international high tech companies are highering like crazy

history
Guest
history

the Rate of Refinancing has blown up in Canada. Here is your Tulip, Porter.