We’re all super-high on housing

From southseacompany, confidence in the Canadian housing market has reached a record high:

“The experts are getting louder in their warnings that a housing bubble has formed in some parts of Canada, but Canadians don’t seem worried.”

“In fact, confidence in the housing market hit a record high in the latest weekly Bloomberg-Nanos index — even as respondents turned negative on their own personal finances.”

“The survey found 48.5 per cent of Canadians expect house prices to rise in the next six months, the highest level recorded in the survey since 2008. Fewer than 11 per cent expect to see house prices decrease.”

Read the full article over at Huffington Post.

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Oracle
Guest
Oracle

A Vote for The Greens is a vote for Christy. Don’t split the vote!

Educate yourself on the first past the post FPTP voting system.

Shut It Down Already
Guest
Shut It Down Already

Is this your first election?

Dave
Member
You are presuming that those voters prefers the NDP over the Liberals and that isn’t always the case. Some of those voters also want to send a message and vote for their ideology (which I personally think is bankrupt when it comes to the BC Greens). But, if you are torn between the Greens and NDP, then you should probably vote NDP because the Greens don’t have a chance of winning seats outside the lower island. It’s looking pretty good for the NDP right now. They are way up in the Lower Mainland and tied elsewhere. The NDP are also the second choice for Liberal and Green voters. The Liberals are only the second choice for a small minority of NDP and Green voters. That means it will be very hard for the Liberals to dig themselves out from the… Read more »
Oracle
Guest
Oracle

Kind of obvious that the portion of Green voters who don’t understand the FPTP voting system would vote NDP even the choice of NDP/Libs.

Or you want data with that? Like the “there are no foreign buyers in vancouver” data that people asked for the last decade.

Shut It Down Already
Guest
Shut It Down Already

Asked for, received, and ignored.

Londonernow
Member
Londonernow

As long as the central banks of the world continue printing and buying assets then nothing will ever go down ever. We are at the height of central bank incompetence. When this period is looked back on history it will be easy to see just how stupid they really were. The wonder will be how it was ever allowed to happen.

Oracle
Guest
Oracle

They are not stupid.

Their goal is to get rich. Extreme wealth inequality is a way of life in India and China. The voters can be controlled by misinformation or threats.

Same is happening here. One difference is the voters here are extremely gullible. Most don’t even know what’s going on.

Funkeymonkey
Member
Funkeymonkey

Ok I finally agree with you on the point about how gullible the voters are.

Londonernow
Member
Londonernow

Well its either they don’t know what’s going on or just decided there’s nothing they can do about it (voter apathy at its worst). I don’t think people realize how much they’ve been robbed to ensure the rich stay rich. They’ve been placated by the Central Banks who say they’ve saved the world and that you should be thankful that you have a job and able to borrow more against the increasing value of your house, or buy more house (borrow more debt) because rates are so low.
Now get back to work you’ve got a mortgage to pay!

patriotz
Member

“You can’t cheat an honest man because he doesn’t expect to get something for nothing”, as the saying goes.

People support Christy, and RE bubbles in general , because they think they’re in on the racket. So don’t think of them as victims. They are the root cause of the problem.

YVR
Guest
YVR

“People support Christy, and RE bubbles in general , because they think they’re in on the racket.”

Is having a job, low taxes and balanced budgets part of the racket?

patriotz
Member

Only if you’re a homeowner who’s bought in the past at a reasonable price. You see, the most insidious form of taxation is when the government inflates the price of some essential for living. Both the purchase price of housing and rents are deliberately inflated by Christy’s policies. You must have read that government revenues from RE are comparable to all resource industries combined.

YVR
Guest
YVR

“Both the purchase price of housing and rents are deliberately inflated by Christy’s policies.”

Interest rates, CMHC, banks and immigration a federal responsibilities. Anything else is irrelevant.

Burnaby Bear
Guest
Burnaby Bear

The jobs ‘created’ by Clark are generally low paying and part-time; the low income tax is partly offset by MSP, ICBC, and Hydro increases; and balancing a budget by selling assets is not balanced to most people.

This site is obviously left wing but almost all of the points are linked to sources: https://www.pressprogress.ca/20_times_christy_clark_got_caught_making_stuff_up_about_the_economy.

squeak
Member
squeak

I suppose that may have something to do with a so called media that rather air stories about cats stuck in trees than what is really going on out there.

(consider how long it took for them to even stutter the word “bubble”)

Abdul Lahazi
Guest
Abdul Lahazi

Surrey homeowner calls for law making home inspections mandatory following new home nightmare:
http://globalnews.ca/video/3401565/surrey-homeowner-calls-for-new-laws-for-new-home-buyers/?utm_source=Article&utm_medium=MostPopularVideo&utm_campaign=2017
“I know that if I had thrown in that clause or that subject of a building inspection, I was going to lose out,” he said. And he is still a loser…

Shut It Down Already
Guest
Shut It Down Already

Do the inspection before submitting your offer, duh.

bullwhip29
Guest
bullwhip29

many sellers wouldnt give you access to the property for said purpose. why? because they dont have to

even if they comply, inspector is really unable to do the detailed work which is required and whatever glowing report that materializes only gives prospective buyer false sense of security

in case outlined in article such an inspection would not have uncovered the shoddy, careless workmanship

given that the new home warranty is full of so many holes, it is better to buy something that is a few yrs old that has NOT been thru a reno upgrade with the help of someone who knows what they are doing

Shut It Down Already
Guest
Shut It Down Already

If a seller won’t give you access prior to offers being taken then walk away. It’s as simple as that. Ask yourself why somebody would want to turn away a potential buyer.

If he’d had the inspection done and it came up all clear then I’d have some sympathy. The end doesn’t justify the means.

bullwhip29
Guest
bullwhip29

just like DIY investors shouldnt be playing around with products they dont understand, noobie RE owners should adopt the same strategy. as i said, an inspection wouldnt have revealed much in this case. you have to do your own homework in advance and know what to look for (or accompany someone that does). buyers like this are basically chomping at the bit for a piece of toxic fast food food solely on how mouthwatering it looks in the commercial.

Shut It Down Already
Guest
Shut It Down Already

Right. And those evil foreigners get the blame. It’s quite absurd. This is fear and greed in action.

patriotz
Member

“If a seller won’t give you access prior to offers being taken then walk away”

Any seller who would give access to their house without an offer has rocks in their head. The “buyer” may be casing the place for a burglary. The offer should accept an offer subject to inspection before any access, which is standard practice.

YVR
Guest
YVR

“The “buyer” may be casing the place for a burglary.”

Yes that happens all the time.

Shut It Down Already
Guest
Shut It Down Already

Yes, imagine giving access to dozens of strangers on both days of a weekend during a 2 hour window that you’ve advertised online for many days prior. How foolish would you have to be to fall for that old trick?

patriotz
Member

Look, I already told you that the standard practice is that someone makes an offer (i.e. puts some money up front) conditional on inspection, THEN if the seller accepts the offer the inspection happens. THEN if the buyer is satisfied the deal closes.

Asking for an inspection without making an offer is BS and any sensible seller (not to mention any realtor) would tell the person to make an offer first.

Shut It Down Already
Guest
Shut It Down Already
Look, I already told you that I know what standard practice is in a normal market. Asking for an inspection – and getting it – prior to submitting an offer is something which *actually happens* in reality. Do you not see how having fewer subjects makes tr buyer’s offer more appealing to the seller when there are multiple offers on the table? Do you not see how the seller benefits in that they stand a lower risk of having the deal fall through only to find out that the other original offers have now evaporated? I know people who have put in a subject free offer after a satisfactory inspection and gone on to close the deal, so you calling it “BS” is just another example of your instinct to argue about things you don’t completely understand. Perhaps it’s the… Read more »
history
Guest
history

When you buy a used van, you take it for a test drive first, right? And when measuring the cargo area, sans seats, you make sure you can fit at least a 48″ wide bed, right? Always bring a checklist, that helps you visualize the conversion of the said vehicle to a home. Curb appeals is important, the vehicle should be able to integrate into the community without any suspicion that it is your living quarters. When negotiating with the seller refrain from suggesting it’s new use.

squeak
Member
squeak

again a sign of the bubble.
And again why it does not make sense for young people/families to reside in BC anymore.
Why put up with this nonsense, too little integrity in BC and that affects the quality of life hugely.

bullwhip29
Guest
bullwhip29

Pre-sale buyer battling with builder over new townhouse
http://bc.ctvnews.ca/pre-sale-buyer-battling-with-builder-over-new-townhouse-1.3383306

“Both my wife and I really liked the clean lines, white walls, light floors, light cabinetry,”

“If he’s not happy, that’s his problem. We stopped the water.”

Just me
Guest
Just me

B.C. Liberals’ promise to not leave debt for our kids is ‘misleading’. Great-grandchildren will be paying B.C.’s debts until at least 2094.

http://www.cbc.ca/news/canada/british-columbia/b-c-liberals-promise-to-not-leave-debt-for-our-kids-is-misleading-1.4083312

“The province has debt on the books. The fiscal plan has debt accumulation on the books, so there is no way that statement is going to be true,” said Gillezeau.

YVR
Guest
YVR

What ever is happening now will be worse under the NDP. You cant cut or eliminate every user fee, add programs and expect them to pay for themselves.

Whistler or Bust?
Guest
Whistler or Bust?

Yep the NDP has earmarked $0.20 for every $1.00 of spending they have promised. Lets give everyone everything!

Just me
Guest
Just me

I remember the 90s and blah blah blah….
You guys should open your eyes and see that the current government does not deserve re-elections.
People like Kruelty Clark, Mike DeJong and Rich Coleman are in the pocket of the RE industry and of rich homeowners. Voting for them again is financial suicide, unless you own a nice piece of land.

patriotz
Member

Yeah I remember the 90’s too. I met a number of co-workers who moved to Vancouver from outside the province, because professionals could buy houses and lead that fabled West Coast lifestyle, which is now out of reach for all but the wealthy.

YVR
Guest
YVR
The 90s you say? BC was in the gutter. – GDP Growth: Compared to Canada as a whole, economic growth in BC was slower in the 1990s but faster than the national average in the 2000s. – GDP Per Person: BC posted the biggest gains in per capita GDP in the 2000s (on average annual growth of +1.2% per year), compared to +0.65% in the 1990s – Incomes: Real income per person is another key indicator of economic well-being. On average, it rose by 1.61% per year in the 2000s. Real income per person actually decreased in the 1990s – Unemployment averaged 8.87% in the 1990s and 6.63% in the 2000s. – Business Investment: Private sector non-residential investment climbed by 3% in the 1990s, and then by 5.33% in the 2000s. BC underperformed the country in the 1990s, but in… Read more »
Whistler or Bust?
Guest
Whistler or Bust?

And with logic like that the NDPers disappear back to their holes.

Best place on meth
Guest
Best place on meth

You’d have to be a knuckle-dragging, mouth-breathing, sub 50 IQ fuckwit to fall the that “remember the 90’s” bullshit.

It’s irrelevant.

history
Guest
history

‘we’re super high on housing’
doesnt rhyme

allow me, history, to fix it

we’re super high on refi
taxes, trad war … i do implore
will never be enough to even the score
Americans may halt our leisure gallivances
distract us from roots, to hack at the branches.

southseacompany
Member
southseacompany

Deputy Premier Rich Coleman;

“My advice to my teens, start saving for the down payment for your first time. That is your future if you can build up that equity.”

https://twitter.com/fabulavancouver/status/852204359937118210

Abdul Lahazi
Guest
Abdul Lahazi

Most people’s advice to teens is “don’t do drugs” or “have safe sex” or something like that but this fat fuk gives advice to teens about real estate down payments? Man, how screwed are we with this government?

Joe Condo
Guest
Joe Condo

What you haven’t set up a RRESP* for your new born? What are you thinking man?

(* Registered Real Estate Savings Plan – You’re Richer than you think)

patriotz
Member

There actually used to be such a thing (federal level), it worked like a RESP or TSFA but you had to spend the withdrawl on a down payment.

Combat roach
Guest
Combat roach

Ashole sucking up to developers, looking for a bonus for the future performance.

Best place on meth
Guest
Best place on meth

What the fuck is Fat Bastard on about with “start saving for the down payment for your first time”?

Is losing one’s virginity going to cost a fortune for future generations?

bullwhip29
Guest
bullwhip29
Abdul Lahazi
Guest
Abdul Lahazi

http://www.news1130.com/2017/04/25/two-seriously-injured-huge-fire-burnaby-high-rise/
Hot Pot fire. This is a well known problem in Burnaby high rises that are populated by Chineses.

bullwhip29
Guest
bullwhip29

biggest kick in the teeth is that insurance co will likely give owner and strata the big run around. these burners not permitted or designed for indoor use. says that clearly on device itself

Shut It Down Already
Guest
Shut It Down Already

Gosh, you have more information about the cause than the investigators.

BubbleTea
Guest
BubbleTea

Breaking: Toronto lawyer says $1B of Ontario investors’ money lost in syndicated mortgages
http://www.cbc.ca/news/canada/toronto/syndicated-mortgages-losses-1.4083261
My oh my, first it was Home capital group, and now this.

bullwhip29
Guest
bullwhip29
Best place on meth
Guest
Best place on meth

15% Head Tax coming.

Abdul Lahazi
Guest
Abdul Lahazi

http://www.cknw.com/2017/04/25/greater-vancouver-home-prices-see-11-drop-report/
BUT Remax still pumps:
Even though the average residential sale price has gone down in Greater Vancouver, the report found sale prices for condos has gone up by nine per cent from $542,268 to $592,784.
As well, Remax says buyers from Vancouver and those migrating from other provinces continue to fuel activity in Fraser Valley, Kelowna, and in Victoria, because they are more affordable.

Combat roach
Guest
Combat roach
When it rains it pours or one shit never comes alone. Trump driving Canada to China But the Trudeau government’s preoccupation with how to deal with the Trump administration has stalled its much-vaunted re-engagement with China over the last five months, said Paul Evans, a China relations expert at the University of British Columbia. The “surge” of this past week, which included Finance Minister Bill Morneau joining Champagne in Beijing for the start of a high-level political and economic dialogue with China’s vice premier, came at an opportune time, Evans said. “China’s curiosity about Canada right now is a lot bigger than softwood lumber,” said Evans, who was also in Beijing this week. Trump’s anti-Canadian trade tirades could soften the ambivalence many Canadians feel about deepening economic co-operation with China, he said. “Trump has accentuated the necessity for Canada to… Read more »
Oracle
Guest
Oracle

Part of me wants Trudeau to sign a free trade deal with China.

It will be so one sided (we have nothing to gain from it) that Canada will turn into a 3rd world country very fast.

Only through peoples misery will the slaves rise up.

Sign it Trudeau.

Abdul Lahazi
Guest
Abdul Lahazi

http://www.cbc.ca/news/canada/british-columbia/iconic-vancouver-outdoor-store-3-vets-closing-after-70-years-in-business-1.4084234?cmp=rss
Jerry Wolfman said a land developer approached the family earlier this year, in the hopes they would want to sell the building at 2200 Yukon Street. “They came with an overwhelming offer and we just couldn’t refuse it,” he said.
The land is assessed at $12 million and they probably got at least 16 million. It doesn’t pay to have a functional business in Vancouver any more when you can make more on the land than running a viable business.

Oracle
Guest
Oracle

Trudeau has just lifted the 2 yr wait before becoming PR in marriages.

Now:

Foreign student wants to buy $5 million house.

Step 1: Marry Local and buy her a $100,000 ring. Immediate PR
Step 2: Buy the house and avoid paying the $750,000 foreign buyers tax
Step 3: Divorce on grounds that spouse spends too much time in China

New industry about to sprout up in Richmond.

Un Fucking believable what Trudeau Liberals are doing. Enabling the law breakers.

http://www.cbc.ca/news/politics/liberal-immigration-marriage-fraud-1.4084865

Oracle
Guest
Oracle

PR rates are going to go through the roof no matter who is elected now. The FBT is irrelevant now.

Canada has been sold.

Sebastien
Guest
Sebastien

One more argument to vote Green.

If you take out the FBT, the Greens’ plan is much better because they’ll jack up the PTT and cap the cap gains.

Sebastien
Guest
Sebastien

You’re omitting a lot of things here. Think about it.

Imagine you’re a drug-lord from Guangzhou and you send your child in Vancouver to launder your fortune by buying 10 houses. Then, overnight, you have a white daughter in law that can milk half of your child’s fortune and demand insane amounts of alimony for life. Smart move?

paulb
Member
Active Member

New
287
Price Change
47
Sold
233

TI:8556

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

Sebastien
Guest
Sebastien

1346 Crestlawn Drive, Burnaby
Feb 2:$1,980,000
Apr 23: $1,488,000
Change: – 492,000 -25%
Assessment: $1,656,000

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

McLean’s fails on the very first sentence:

“In two weeks, British Columbians will go to the polls to decide whether to grant Premier Christy Clark’s Liberals a third term. ”

Anyway, we wouldn’t have to even think about strategic voting if we had a proper electoral system like proportional represention rather than this garbage British parliamentary system.

Turdeau made electoral reform his #1, iron-clad, guaranteed promise but he’s decided “fuck that shit” and is now focused on doing business with mass murdering, communist gangsters.

Sunny ways, bitches!

Sebastien
Guest
Sebastien
YVR
Guest
YVR

“Turdeau made electoral reform his #1, iron-clad, guaranteed promise but he’s decided “fuck that shit””

Shocking. The party not in power trying to get elected makes a bunch of promises they renege on once elected.

When you become the party in power the existing rules all of a sudden favour you. Same thing couldn’t happen here in BC, right?

Shut It Down Already
Guest
Shut It Down Already

Like promises to “defeat ISIS within 30 days”? That sort of thing?

Oracle
Guest
Oracle

Don’t worry. The US Military will be keeping a keen eye on HAM central (China). I’d worry about them more than stuff in the Mideast if I were you.

Shut It Down Already
Guest
Shut It Down Already

So I shouldn’t worry about broken/dumb promises depending on who made the commitment?

Best place on meth
Guest
Best place on meth

Not just any promise, commie boy’s #1 promise.

Guaranteed.

Oracle
Guest
Oracle

You should be worried about the USA military in the South China Sea.

patriotz
Member

“Same thing couldn’t happen here in BC, right?”

You mean Liberals not keeping their promises? Already happened.

Oracle
Guest
Oracle

Who owns McLeans?

bullwhip29
Guest
bullwhip29

Fannie Mae Introduces Innovative Solutions for Borrowers with Student Loan Debt
http://www.fanniemae.com/portal/media/financial-news/2017/student-loan-debt-6546.html

Best place on meth
Guest
Best place on meth

Latest poll shows a major move after weeks of gridlock, NDP extend their lead to 10 points over the Liberals with 44% to 34%.

Greens rise yet again to 22%.

http://www.mainstreetresearch.ca/ndp-surges-post-radio-debate/

I blame Krusty’s innapropriate touching for her slide.

Oracle Sockpuppet Doppelganger III
Member
Oracle Sockpuppet Doppelganger III

Too big a gap and BC millennial lazyfucks will stay home and we’ll be all at square one…again.

Best place on meth
Guest
Best place on meth

Start a rumour the day before the election that West Nile Virus has broken out across the province and the useless “protect my equity” Boomers will stay home as well.

Advantage retaken.

Best place on meth
Guest
Best place on meth

REMEMBER THE 90’S?

SQUAWWWWK!!!

Oracle Sockpuppet Doppelganger III
Member
Oracle Sockpuppet Doppelganger III

FAST FERRIES RAAAWRK

Oracle
Guest
Oracle

The name is trademarked.

Pay up $$$

Oracle
Guest
Oracle

But but Horgans ancestors in the Bronze Age weren’t good fiscally. They spent too much on swords. Can’t vote for him /S

Best place on meth
Guest
Best place on meth

Krusty up in Prince George telling people to “remember the 90’s”

What a fucking one trick pony.

http://www.princegeorgecitizen.com/news/local-news/clark-touts-liberals-economic-track-record-1.16466301

Comments are great, she’s going to lose a lot of seats in the interior.

Just me
Guest
Just me

Comments are great. These people have figured out the number of Kruelty Clark.

PS She did not wear one of her expensive (tax payer subsidized) dresses. She is folksy Clark when talking inlamd….so fake.

Abdul Lahazi
Guest
Abdul Lahazi

Like Gordon Campbell wearing his plaid shirt.

Best place on meth
Guest
Best place on meth

Mayor Qu congratulates Krusty on her victory in 2013

http://www.mayorofvancouver.ca/bcelectionstatement

As Mayor, I’m committed to working with the Premier on building the partnerships we need to deliver on Vancouver’s priorities, including strengthening our local economy (unknown), ending street homelessness( MASSIVE FAIL!), making housing more affordable (SUPER MASSIVE FAIL!!), and investing in urgently-needed transit improvements (HYPER MEGA SUPER MASSIVE FAIL!!!).

Just my humble opinion, but I truly believe that our elected representatives at all three levels of government have become so fucking useless that they’re not even suitable to be burned as fuel.

Just me
Guest
Just me

That is quite a quote you found.
We have been let down so badly, it will take years to dig ourselves out.

Combat roach
Guest
Combat roach

That’s what you get when you elect complete clowns or politicians in attempt, who are each individually obsessed with Chinese shit due to their personal agendas..

airborne canine
Guest
airborne canine

I am the only one here who is shocked in a good way about the new 15% foreign buyers tax being imposed in Victoria. http://www.theglobeandmail.com/report-on-business/victoria-looks-to-follow-vancouver-on-foreign-buyers-tax/article34801717/

patriotz
Member

Actually the article says that the City of Victoria, which has only a fraction of the metro population and is an NDP stronghold, has asked the provincial government to bring in the tax.

However it may well happen, a lot depends on who wins provincially.

YVR
Guest
YVR

“However it may well happen, a lot depends on who wins provincially.”

We know if Horgan wins it ain’t happening. He owns 2 houses in Victoria. Probably his whole net worth is ‘invested’ in Victoria RE. P

Oracle
Guest
Oracle

All HAM does is travel in packs in big SUVs and travel from property to property buying houses.

No income tax paid. We have to tax these people.

The Sauder plan but at 5%. Not 2%.

bullwhip29
Guest
bullwhip29

Home Capital plunges 41% at open as it seeks $2B line of credit amid declining deposits
http://www.bnn.ca/home-capital-seeks-2b-line-of-credit-as-deposits-plunge-1.735043

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