Owe Canada! Canadians love debt

Owe Canada posted this in the weekends thread and it’s got some very interesting numbers:

Canadian annual gdp at the present time is $2.06 trillion.

In the 1 year period from the end of December, 2015 to the end of December, 2016 (calendar year 2016) the Canadian economy grew by 1.4% – ie: the size of the economy grew by $28.9 billion.

In this same 1 year time frame the total debt outstanding in Canada grew by $309 billion. For each $1.00 the economy grew in this 1 year period the total debt outstanding increased by $10.69.

Looking at just the total debt outstanding of domestic non-financial sectors in Canada. In the 1 year period from the end of December, 2015 to the end of December, 2016 the total debt outstanding of domestic non-financial sectors increased by $215 billion. For each $1.00 the economy grew in this 1 year period the total debt outstanding of domestic non-financial sectors increased by $7.43.

At the end of December, 2016 the total debt outstanding in Canada was 3.5 times greater than our annual gdp, and looking at just the total debt outstanding of domestic non-financial sectors, that was 2.5 times greater than our annual gdp.

Here’s more from Owe Canada.

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Newcomer
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Newcomer

http://www.theglobeandmail.com/report-on-business/frenzied-bidding-wars-push-toronto-homebuyers-to-skip-inspections/article34561351/?click=sf_globefb

It’s weird. I guess Xi only managed to block Chinese money heading to Vancouver, but it’s still flowing to Toronto. There is no other way to explain it.

Doomcouver
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Doomcouver

I’m sure there’s a lot of Chinese cash that they managed to get out of the country before the new restrictions. Plus the locals have a terminal case of FOMO right now and are likely driving the majority of these price gains. In my opinion the deflation at the top-end of the Vancouver market is almost completely caused by perceived impact of the foreign buyer’s tax and didn’t have much to do with actual lack of capital.

These feeding frenzies, like the one in Toronto, are pretty common near the tail end of an asset bubble. Prices usually go vertical right near the end. Given the choice I’d rather live in a van than buy a place in Vancouver or Toronto right now. But then again I’m a weird minority.

Just me
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Just me

As we discussed multiple times, and you seem to forget, there are two issues: (i) amount of total capital deployed; (ii) distribution of total capital deployed.
In a place like Toronto (that did not attract a large share of the pie originally) it is perfectly reasonable that a much larger share of the total will drive up prices. At least temporarily. I expect price appreciation will moderate also in Toronto if Xi Jinping keeps capital flows under control for a bit longer.

It must also be added that Toronto started from a much lower price level, so anything new legislation leading rich mainlanders to other markets (like Toronto) will inevitably lead to arbitrage out differences. Recently we had several examples of such legislation (the empty home tax, the foreign buyers tax).

bullwhip29
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bullwhip29

i’m sure newcomer will rebut this with a statement that this is all nonsense and that there isn’t a shred of definitive proof the FBT had any effect whatsoever. it is just a “weird” coincidence…whatever

history
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history

Newcomer has moved to Vancouver to experience the leisure lifestyle.

Doomcouver
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Doomcouver

Just when you thought Canadian consumer debt couldn’t get any higher it just keeps going. It’s equal parts fascinating and horrifying in my opinion… There might be a lot of schadenfreude among housing bears this year but we’ll see.

paulb
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New
384
Price Change
30
Sold
130

TI:8212

http://www.clivestevepaul.com

Doomcouver
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Doomcouver

Wow lots of listings today. Almost 3 times as many new as solds. Is there usually more listings on the first Monday of the month or is this possibly the start of the spring listings flood people have been speculating about?

Newcomer
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Newcomer

Mondays are always bigger.

Best place on meth
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Best place on meth

It may have something to do with the first 48 hour dry spell in months.

squeak
Member
squeak

The blossoms are out, everything looks prettier, nesting cycle intensify are like free marketing/staging for home sellers.

Like the cosmetic counters: A ton of glam for a couple mL of goo marketed with a lot of brain wash/promises at a sky high price.

Doomcouver
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Doomcouver

Nothing like some beautiful scenery to make people want to become debt slaves I guess.

Best place on meth
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Active Member
Best place on meth

Rare dry spell over, everyone get your hip-waders back on.

Vancouver Review
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Vancouver Review

Apr 3rd, 2017 Daily Review Vancouver Real Estate Bubble News

https://youtu.be/CJzWTXQjnrs

bullwhip29
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bullwhip29

Vancouver police make arrest, lay charges for PharmaNet breach
http://www.theglobeandmail.com/news/british-columbia/vancouver-police-make-arrest-lay-charges-for-pharmanet-breach/article34571881

>>> how shocking…richmond home to more fraud and corruption

Newcomer
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Newcomer

Communists?

Combat roach
Guest
Combat roach

… or maybe how’s that related to RE as far as Norwegians are mentioned?

bullwhip29
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bullwhip29

what this all boils down to is how communities like this have been utterly raped, pillaged and stolen away from locals by hoards of unscrupulous weasels with a mandate to do whatever they feel like anytime they want. this “unnamed” individual was most likely in the business of enabling more of this riff-raff into the country, so it is directly related to RE imho.

http://www.newswire.ca/news-releases/advisory—unauthorized-botulax-injection-and-medical-sutures-seized-from-spmu-mts-studio-in-richmond-bc-617813273.html

history
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history

a function of Leisure, the spa lifestyle.

bullwhip29
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bullwhip29
Best place on meth
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Active Member
Best place on meth

Congratulations to the new president of the Real Estate Board of Vancouver, Jill Oudil!!!

She’ll make a great compliment to the fantastic team on the board of directors who are….hang on….it appears they’re all white people.

http://www.rebgv.org/news-statistics/real-estate-board-instates-jill-oudil-20172018-president

Dear god, the REBGV is racist!

bullwhip29
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bullwhip29

this is the same as bringing in a white face as new “acting” managing director/front man at new coast realty.

Newcomer
Member
Newcomer

Don’t you mean, “democratic” faces? As I remember, you are only concerned with ideology/culture.

bullwhip29
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bullwhip29

and as chief know-it-all, self appointed moderator of this blog not to mention new (and multiple) record holder for meaningless comments posted in not only a 24 hr period, but also weekly, monthly and soon to be the highly coveted annual time frame, you of all people should know that ideology and culture in this bucketshop of a hicktown equates to one thing and one thing only…

Newcomer
Member
Newcomer

And what is that one thing? Just for the record.

history
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history

Leisure

Newcomer
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Newcomer

You’ve been going on about that. I don’t really get it. Care to be a little less cryptic and set forth your thesis about leisure?

history
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history

leisureturd

that better?

Newcomer
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Newcomer

No, it is not. But I now get that you don’t actually have a theory that can be explained, only a vague idea and a word that you like.

Just me
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Just me

China Plan to Create New Shenzhen Spurs Speculative Rampage

https://www.bloomberg.com/news/articles/2017-04-03/china-s-plan-to-create-new-shenzhen-triggers-speculative-rampage

Within 24 hours of Saturday’s announcement that the government would create the Xiongan area in Hebei province — in the same spirit that Shenzhen and Shanghai’s Pudong was built — hordes of prospective buyers had thronged to the region. Highways were clogged as they came to purchase real estate, with some camping outside property agent offices overnight, according to local media reports. On Sunday the government banned all property sales in the zone to stem speculation, according to the National Business Daily.

No comment. The article speaks for itself. I just hope we can vote politicians who can deflect this madness away from us.

Oracle
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Oracle

Why do they do this? That’s why need borders. They will buy up everything with fiat money.

This is beyond ridiculous.

Hopefully the NDP wins.

The 2% levy will go a long way in taxing the families that are leeching of local workers who are paying taxes to run this city.

Enough is enough.

Oracle
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Oracle

I’m sure those connected have bought real estate there before the announcement. Their kids and wives will be here in a few years.

Oracle
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Oracle

That’s why we either limit immigration from this country or else BC is lost.

bullwhip29
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bullwhip29

the connected elite already claimed all this land as their own using any and all means before any of this started.

Abdul Lahazi
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Abdul Lahazi

What’s with the Chinese mentality over real estate? We see this crazed behaviour all over the world from them. Even here in Vancouver we see the Chinese hordes descending on an open house like locusts on a field of wheat.

bullwhip29
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bullwhip29

or piles of free sand

Shut It Down Already
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Shut It Down Already

Except 90% of the horde is local, because they think RE is a pathway to easy money.

Combat roach
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Combat roach

Correct, for the majority (there are some exceptions), it doesn’t matter if they are local or overseas Chinese. They have the same background, psychology, mentality, and aspirations. The only difference is status or papers, some might have Canadian documents and some not yet. Some have been around longer, some shorter and some not at all, but they are at the first place Chinese and don’t give a shit about Canada, communities, society, etc. Canada is just a vehicle for them to get what they need and get ahead of their fellow compatriots and neighbors.

Newcomer
Member
Newcomer

Whereas for you, it’s something different. I don’t see you ever talking about what you want and need, or seeing yourself as in competition with your neighbors, and especially not Canadians with different heritages.

I’m guessing you are a collectivist, community-before-individual guy. What’s the word for that? Communitist? Something like that.

Oracle
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Oracle

Either pledge your allegiance to Canada or STFU

Shut It Down Already
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Shut It Down Already

Looking forward to the day you have a shred of proof to support anything you say.

Just me
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Just me

…the kettle said to the pot.

Shut It Down Already
Guest
Shut It Down Already

You’re right – it is just you.

history
Guest
history

you may be right, but it’s the control of The Margin that matters, and who controls that? (rhetorical question, the answer is the Chinese). Locals just want to wear thongs at Cabo, to simplify.

ostritch
Member
ostritch

Do you remember when Kramer on Seinfeld hosted some Cubans and had them sleep in the four drawers of his bedroom dresser? That’s what happens when you don’t have real estate in China. It’s possible you will end your life living on an IKEA shelving unit. If you’re lucky.

Best place on meth
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Best place on meth

Not just living on an IKEA shelving unit but living in IKEA itself.

http://mashable.com/2014/07/21/china-ikea-sleeping-photography/#ZFG_k5oe7Gq6

I think Kramer’s guests were Japanese.

ostritch
Member
ostritch

I saw that a few months ago. IKEA can’t get rid of them. All that comfy furniture and all that prepared food. What’s not to like?

southseacompany
Member
southseacompany

Interesting, rates hike could still mean little if inflation exceeds interest rates;

“Why We Could Get Negative Interest Rates Even Though The Fed Is Hiking”, Forbes

https://www.forbes.com/sites/oliviergarret/2017/04/03/why-we-could-get-negative-interest-rates-even-though-the-fed-is-hiking/#3dfe0b51499c

“As has been the case in the past, the Fed is willing to let inflation consolidate above its 2% target before embarking on a more aggressive tightening path.

This willingness to let inflation “run hot” means even as nominal rates rise, real rates—that is, the nominal interest rate minus inflation—are headed into negative territory.”

patriotz
Member

” rates hike could still mean little if inflation exceeds interest rates ”

The amount of mortgage that buyers qualify for depends on the nominal rate, not the real rate. If the nominal rate goes up they qualify for less regardless of inflation. And what buyers qualify for is a primary concern in a debt-driven market.

Inflation does effect the real value of future payments, but that’s another issue.

history
Guest
history

I’ll get my economic analysis from Steve Keen, and my demographic analysis from Harry Dent, and his sources.

ostritch
Member
ostritch

Conspiracy theories + money bet on them = you get what you deserve. Which is nothing.

history
Guest
history

Be nice, and Dave may make you treasurer of his new party. Secretary is open too. Can you write minutes?

southseacompany
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southseacompany

“BMO on Toronto housing bubble: 1637’s answer wasn’t more tulips”, Globe & Mail
http://www.theglobeandmail.com/report-on-business/top-business-stories/bmo-on-toronto-housing-bubble-1637s-answer-wasnt-more-tulips/article34574513/

“You’ve got to ease demand first because we don’t want to get “anywhere close” to Holland in the 1600s, South Sea a century later, dot-com stocks in 1999, or American real estate in 2006, warns BMO chief economist Douglas Porter.”

“”Do you think that the best response to the Dutch Tulip Bubble in 1637 was to cultivate more land and grow more tulips?” Mr. Porter said in a recent research note.”

““Do you think the best response to the Dot-com Bubble of 1999 was an increased supply of shares of Pets.com or Toys.com?” he added.”

““Do you think the best remedy to the U.S. housing bubble in 2006 was to build yet more homes in Vegas, Phoenix and Florida?””

Just me
Guest
Just me

We should forward this article to the office of Christy Clark and Mike DeJong.
Perhaps, if they get a few hundreds links, they will read it and learn something.
They are both ignorant and arrogant. They would do well to invite the UBC/SFU professors and listen to what is the best policy to address the ongoing problems in Vancouver. They will never do it, as they don’t care about right or wrong. They only care about appeasing the vested interests that bankroll them and help them being elected.

patriotz
Member

They understand quite well, as can be seen from their actions in manipulating the market.

Remember: they’re not stupid, they just think you are.

Just me
Guest
Just me

You might be right about that. They look more stupid than they actually are.

history
Guest
history

Canadians dont love debt, thats nonsense. But they love to Leisure Travel, funded by ever higher rates of refinancing.

I understand the sarcasm, but if doesnt point out the truth, it’s garbage begging to Be Taken Out.

Trump getting in and saying Build The Wall, or impliments travel restrictions, strikes fear in this group of thong wearers, Antarctica spirit cookers or casino jaunters (of all nationalities). Infact, that is why Trump said it. He cant say Raise Interest Rates, as the bankers are too slippery to face blame, besides he works for them.

bullwhip29
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bullwhip29
HALT_YVR
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$50,000 A Plate Fundraiser for BC Liberals This Sunday – ALL ARE INVITED!! This Sunday, April 9th at 1:30 pm at the Vancouver Art Gallery, Housing Action for Local Taxpayers (HALT) is hosting a $50,000 a plate fundraiser for the BC Liberals. Unlike other BC Liberal fundraisers, ours will have no blacked out windows or secret donor lists. Called SuperPlate 2017, this fundraiser is open to the public for all to see!! After last Septembers successful rally for action on Vancouver’s housing affordability crisis, HALT has invited Christy Clark and Rich Coleman to come down to the Vancouver Art Gallery this Sunday at 1:30 pm and accept funds from the local Real Estate lobby. Watch in awe as vast sums of money change hands! Marvel at the splendour of how government’s housing policy is formed! Look on in wonder as… Read more »
BubbleTea
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BubbleTea

Vancouver Home Sales Down 31% in March From a Year Earlier

Shut It Down Already
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Shut It Down Already

This is relevant because inventory was essentially identical for the entire month.

history
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history

Do we have the Change in Rate of Refinancing? I know it’s down too because of the demographic Front running by the Fed with the new downpayment and insurance rules (remember they dont want to raise interest rates to cool things off) That all hit the fan in October, spearheaded by these unlimited ingenuity high school drop outs at https://canadianmortgagetrends.com/

Just me
Guest
Just me
Excellent commentary by martin Wolf on the FT. Makes great reading for all interested in Vancouver RE. ” Chinese finance is storing up trouble for the rest of the world Given its macroeconomic imbalances, China could unleash global mayhem” https://www.ft.com/content/da94e4e2-1787-11e7-9c35-0dd2cb31823a Some excerpts: “The macroeconomic issue is simple: China saves more than it can profitably invest at home. In 2015, gross national savings were 48 per cent of GDP. World Bank data show that households contributed only a half of this. The rest came from corporate profits and government savings. International comparisons suggest that economic growth of 6 per cent warrants investment of little more than a third of GDP. This indicates that China’s surplus savings — surplus, that is, to domestic requirements — may be as much as 15 per cent of GDP. Where might such surpluses go? The answer… Read more »
ostritch
Member
ostritch

What a great analysis. I have also read something along similar lines that boils down to a Lehman moment for China equals a huge tsunami of money hitting foreign shores.

At first I couldn’t wrap my head around it. I thought China would get stricter with capital controls but no, it’ll be similar to the old adage, owe someone a thousand bucks you’ve got a problem, owe them a billion, they got a problem. There would be a stampede of panic selling and moving money abroad that would simply overwhelm the Chinese government.

Bear Vancouverite
Member
Bear Vancouverite

Does this mean you suspect that if China’s debt causes a meltdown housing will actually go up? Doesn’t that mean that housing will go up if the debt gets out of hand and goes up if debt continues to grow without problems? ie housing goes up no matter what happens in China?

Just me
Guest
Just me

Yes. Both scenarios imply higher outflows, just different paces of outflow.
The only way to avoid the worst of its effect is to vote in a set of politicians who put in place serious anti- money laundering controls. The Chinese government will not be able to stop outflows forever. It is incumbent upon us to put in place capital controls that filter out illegal money from China.

ostritch
Member
ostritch

I think the Chinese government sort of wants these outflows to continue. That way, the recovery after the collapse ensures there is a lot of offshore money to be repatriated. It’s a weird way of thinking but it goes along the lines that those who are poorest, with no connections, and in the billions, can each lose their little bits of everything, before the society starts up again. Then the rich and connected come back when momentum off the bottom favours investment.

It’s sick. But it goes with what I see of the culture. Winners/losers/connections/no connections.

Newcomer
Member
Newcomer

Are you aware that you are basing your opinion of a culture on your fantasy about what they might do in the future, and then using that opinion to support your fantasy?

I get that it’s fun to speculate. I just hope you don’t have any money riding on your analysis.

ostritch
Member
ostritch

Don’t worry about my investment ability newcomer; worry about yours.

ostritch
Member
ostritch

Like I said; it’s someone else’s opinion. And as a credit crisis is overdue for China but no one, not even the Chinese themselves, know what will happen, it’s a good idea to start reading and thinking. IMO.

So yes, as far as impacts on foreign shores is concerned the idea is that the Chinese with money want to get it away from the Chinese gov’t now and if there were a crisis in which the government would be able to use householders’ substantial savings in banks to pay off highly leveraged bank debt, there would be an outright panic to get it out.

Can you see that happening even here if our government was a reckless with money printing and leverage? Remember the panic here over “bail-ins”? And we half trust our government. There, there is no trust.

Best place on meth
Guest
Active Member
Best place on meth

“This explains why, despite a persistent trade surplus, the country’s foreign exchange reserves fell from $4tn in June 2014 to $3tn in January 2017”

That trade surplus is on borrowed time as Trump has summoned the head chinaman to Florida in two days time to discuss how china’s rape of the US economy will finally come to an end.

The fat Korean will also be on the agenda.

Nearest McDonalds to Mar-a-lago is 7 minutes away so Jinpig’s burger should arrive reasonably warm.

Combat roach
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Combat roach

Will any B.C. political party get serious about solving Vancouver’s rental housing crisis?

http://www.straight.com/news/890166/will-any-bc-political-party-get-serious-about-solving-vancouvers-rental-housing-crisis

BubbleTea
Guest
BubbleTea

Canada’s doors are ‘wide open’ for criminals to launder money in real estate: report
Give us your criminal, your corrupt, your anonymous masses.
It’s a message that Canada is sending to the world with its “doors wide open” approach to money laundering in real estate, says a new report by Transparency International (TI), a Berlin-based organization that works to stop corruption around the world.
http://globalnews.ca/news/3350193/canada-launder-money-real-estate-report/
Justin and Krusty, you should be proud!

Combat roach
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Combat roach

Norwegians are notorious when it comes to money laundering and stashing, especially when getting VIP or diplomatic treatment while looping from YVR, over an exotic car dealership, over realtor’s parlour to the bank.

Combat roach
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Combat roach

In Vancouver, VIP or diplomatic treatment is a form of legal immunity that ensures Norwegians are given safe passage and are considered not susceptible to lawsuit or prosecution under the host country’s laws, although they can still be expelled.

bullwhip29
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bullwhip29

and once YVR is sold off to the likes of Anbang none of this will matter. as it stands so called VIPs are landing their own jets on private runways, walking off the plane with suitcases full of cash and bypassing the system anyway

Shut It Down Already
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Shut It Down Already

Proof?

Oh wait – it’s you.

bullwhip29
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bullwhip29

you are aware that there are two sets of rules for regular and VIP passengers landing at yvr, right? as for outright sales, you never know what these nutbars will do at the end of the day and what the consequences of those actions will be
https://www.thestar.com/news/canada/2017/03/06/liberals-drive-to-privatize-canadian-airports-lifts-off.html

Diadora
Guest
Diadora

“Anbang, whose murky links to the Chinese power structure have raised national security concerns over its U.S. investments.”— Bloomberg
Canada welcomes Anbang with open arms to buy up Canadian real estates.

Just me
Guest
Just me

“Pecunia non olet”.
The Romans figured this out 2000 years ago.

Just me
Guest
Just me

It is good for the economy.
And keeping these criminals out of the housing market would hurt the “hard won equity” of current homeowners. The BC Libs cannot stand for that.

bullwhip29
Guest
bullwhip29

98 BC Liberal Falsehoods, Boondoggles and Scandals: The Clark Era
https://thetyee.ca/Opinion/2017/04/04/BC-Liberal-Falsehoods-Scandals-Clark/

At the end of 2012, there was “no other way to say it: The B.C. government is fudging its job creation record,” wrote National Post senior reporter David Akin. “While Clark campaigns to be number one on job creation, B.C. is actually the worst in the West and fourth worst in Canada” and the “B.C. government is making false claims about the performance of the BC Jobs Plan.”

>>> I suspect the very same thing is happening right now…announcing all kinds of projects, spending etc that they won’t (or can’t) follow though on not to mention outright lying about how great things are going. once a crook, always a crook…

ostritch
Member
ostritch
ostritch
Member
ostritch

And the article feature the aforementioned Jill Oudil

paulb
Member
Active Member

New
253
Price Change
47
Sold
191

TI:8244

Follow us on Instagram: https://instagram.com/clivestevepaul

Newcomer
Member
Newcomer

Remember this one? We used to have articles like this, back in the day when a few people with good incomes in Vancouver could club together and afford a shack.

http://www.cbc.ca/news/canada/toronto/can-t-afford-a-home-buy-with-a-friend-or-maybe-even-a-stranger-1.4032457

Just me
Guest
Just me

Good old days.
Long gone.
Now, to buy a plot of land next the cemetery in Killarney you need to bring together 4 or 5 households (using median Vancouver family earnings).

Well, according to you, this is all about locals over-leveraging.
Right…..

Shut It Down Already
Guest
Shut It Down Already

That’s not how statistics work. You’re basically picking an outlier and implying that it’s representative. How dishonest.

Just me
Guest
Just me

…..? Have you had too much to drink?
Go to Zolo and check every other listing to confirm.

Shut It Down Already
Guest
Shut It Down Already

That’s your argument? I see.

Just me
Guest
Just me

I simply tell you something true. You do what you want with it. I don’t quite care much about you, you ckearly have some vested interest or, worse, a chip on your shoulders.

Shut It Down Already
Guest
Shut It Down Already

What’s true? That your entire position hinges on an expectation that every property must be purchased by a first timer with minimal downpayment?

How many times must it be pointed out to you that locals on median incomes can afford expensive homes if they have existing equity? Should I write it in crayon on your copy of the Financial Times for you?

Just me
Guest
Just me

Right. You have written that nonsense many times. Every month that goes by, fewer people even listen to your blah blah.
Thankfully it is clear that public opinion is shifting, with a realization of what money flows from China have done to this city.

Shut It Down Already
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Shut It Down Already

It’s a good job we don’t defer the truth to public opinion then. But if you feel more comfortable knowing that others agree with you, so be it.

As for stating my claim is nonsense are you suggesting that the entire market is comprised of first timers? If not, then what precisely are you saying that invalidates what I said? Feel free to back it up with statistics.

Polozi Scheme
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Polozi Scheme
Vancouver Review
Guest
Vancouver Review

April 4th, 2017 Daily Review Vancouver Real Estate Housing Bubble News

https://youtu.be/6fWLmjUrqRY

Sebastien
Guest
Sebastien

18-23000 Dyke Road, Richmond
Jan 24:$220,000
Apr 4: $119,000
Change: – 101,000 -46%

Shut It Down Already
Guest
Shut It Down Already

Assessed at 145000

Newcomer
Member
Newcomer

This appears to be a 30 year old float home with no lease in place.

Oracle
Guest
Oracle

Overseas $ transaction.

Oracle
Guest
Oracle

No way to prove money changed hands overseas as MLS price is available to everyone.

Betcha that property is sold asap, just like the other ones with huge price drops.

But you already know that sebastien. No help for the gullible.

Bear Vancouverite
Member
Bear Vancouverite

LOL. You post almost like a bot without checking context. Did you not notice Newcomer found out this is a boathouse with no land and no lease?

Will overseas investors now buy up boats that have no land rights?

history
Guest
history

The Quantity of East Indians in the market is not the same as the Quality. Oracles posts over the years is proof.

One good General will outfox 10,000 from the sub continent. This is not opinion, but historical fact

southseacompany
Member
southseacompany

“Steve Saretsky & Hilliard MacBeth Canadian Real Estate Bubble”, from March 10/17

https://www.youtube.com/watch?v=7pkr86X8VBo

“Steve Saretsky interviews Hilliard Macbeth, financial advisor and author of the book When the Bubble bursts. Hilliard has a background in economics and has been working in the financial industry for almost 40 years. He gives his thoughts and perspectives on Vancouver real estate, Toronto’s housing bubble, and what to make of the Alberta real estate market. “

history
Guest
history

1. It was economist Steve Keen who pointed out the RE smoking gun. The 0.82 positive correlation bretween Rate of Refinancing mortgages and Prices.

2. It was Harry Dent who pointed out that Leisure travel peaks at age 54.

(1 and 2 are linked. ‘Cause you cant have 2 unless 1 happens, over and over and over again.)

3. It was me that pointed out that the Chinese buyer controls the Margin, through its control of Vcr Homes greater than 3M

ostritch
Member
ostritch

Who is buying many of the presales along our N/S corridors? It ain’t just local yokels.

history
Guest
history

The Leisure classes? sure as hell it aint workers.

LS in Arbutus
Guest
LS in Arbutus

Check out the facebook page:

https://www.facebook.com/ForeignInvestmentVancouverRealEstate/

A new forum for people to air their frustration with Van R/E.

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