Friday Free-for-all! May 5th 2017

Whats up? Happy Cinco De Mayo!

It’s the end of another glorious workweek in debt paradise and that means it’s time for another Friday free-for-all post. This is our regular end of the week news round up and open topic discussion thread for the weekend, here are a few links to kick off the chat:

–This is an ugly market
–Home Capitol contagion?
–high density housing just like slave ships?
–highest price houses are for lowest incomes
–Toronto owners scramble to cash out
–Does standby financing give you confidence in lenders?
–

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

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Oracle

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Click to flag and open «Comment Reporting» form. You can choose reporting category and send message to website administrator. Admins may or may not choose to remove the comment or block the author. And please don't worry, your report will be anonymous.

Election only a few days away.

Green voters: Do not be brainwashed by your leaders. Do not split the vote. Vote NDP to get Christy out.

Many Liberal shills (mostly HAM on this board) have been exposed on reddit. They did a poll and 57% voted NDP. Seems like the BC Liberal socials media machine is desparatly trying to pump up the greens. I hear the Liberals are paying for the Green party ads in major newspapers this weekend.

Get the message out. Educate the Green followers and don’t allow a split vote.

And don’t even start YVR. Shut it, etc. You and HAM can just go fuck yourselves.

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Sebastien

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Can you post any evidence that the Liberals are paying for Green ads?

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bullwhip29

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this doesnt matter. without any doubt the libs are going to carpet bomb the airwaves with all kinds of bs this weekend, toss stacks of illegal flyers off wherever warm bodies can be found, troll the internet and so forth. that is a given. one can only hope that many have already voted and that all the negative, toxic bile coming out of their camp will fall on the deaf ears of many who are simply sick and tired of all the nonsense. as i said, it really doesnt matter if 2/3’s of the population is long RE if they can never really cash in on their winnings unless they downsize in a meaningful way or simply move far, far away. the idea of moving up the property ladder or seeing their kids get into the market is becoming more… Read more »

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bullwhip29

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not that it matters, but this was done last time around…
http://vancouversun.com/news/politics/smyth-why-christy-clark-loves-the-green-party

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Oracle

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Are you fucking stupid?

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Oracle

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Grade school stuff. Dumbass, can you post any evidence that the Liberals aren’t paying for Green ads?

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Shut It Down Already

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Oh Jesus. Not this nonsense again. The burden of proof is on you.

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Oracle

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China Eastern has a one way flight for you….

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Sebastien

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Oracle = Confirmed Troll

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YVR

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Oracle = Confirmed Loser

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Oracle

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STFU HAM

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Oracle

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China Eastern has a one way flight for you….

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Oracle

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STFU HAM

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Oracle

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China Eastern has a one way flight for you….

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ostritch

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Christie loves the Greens. She makes a great case for them. She says they’re so reasonable and easy to talk to. They actually would make better leaders than Hothead Horgan. Name one hothead who did well for his country?

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Best place on meth

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Bill Clinton gets a lot of credit for a great economy, but he was in the right place at the right time.

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Just me

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http://vancouversun.com/opinion/columnists/douglas-todd-b-c-s-ethnic-chinese-population-far-more-inclined-to-vote-liberal Douglas Todd: B.C.’s ethnic Chinese far more inclined to vote Liberal “Not many of them need to draw support from public resources. Social justice and fairness are low priorities to them. And a change of government means unpredictability. So it is something they fear.” While the Mainstreet poll showed ethnic Chinese are far more inclined than the general B.C. population to vote for the B.C. Liberals (and the federal Conservatives), a significant 33 per cent of Chinese told the pollster they are ready to cast a ballot for the NDP. A paltry eight per cent leaned to the Greens. Justin Fung, with Housing Action for Local Taxpayers (HALT), says many Chinese people in Metro Vancouver lean to the Liberals because “they’re mostly satisfied with the status quo.” Well-off Chinese residents have seen their real estate “assets appreciate significantly under… Read more »

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ostritch

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Could it be that ethnic minority rights, as you call them, have nothing in common with LGBQT2 rights? Isn’t an “ethnic minority” just another way of saying a majority community somewhere else in the world who emigrate with all their norms, mores and values in place?

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“As for Chinese voters fundamental indifference to B.C.’s Green party, Sung and Fung chalk it up to the drive of many immigrants to achieve personal prosperity, which makes ecological sustainability a low priority.”

Never would have guessed that!

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Abdul Lahazi

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Not getting ahead? Maybe this is why:
https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=05TB50&mobile=false

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Abdul Lahazi

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Hourly wages for all employees expanded by 0.7 per cent in April, the slowest year-over-year growth since the federal agency started collecting that data in January 1997. For all permanent employees, wages expanded compared to a year ago by just 0.5 per cent — also an all-time low.

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bullwhip29

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of course, BC is the exception with everything lining up perfectly for premier. just lucky? or is the same BS that happened in the past happening again?

http://blogs.canoe.com/davidakin/politics/no-other-way-to-say-it-the-bc-government-is-fudging-its-job-creation-record/

https://thetyee.ca/News/2011/11/07/ExaggeratedJobGrowth/

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ostritch

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The jobs growth rate is the same kinda fudged and cherry picked data the bears use to “prove” that thr market is in decline. It’s MAY and we’re at sub-9K inventory and yet there are those who persist that this Spring is when the market collapses.

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bullwhip29

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https://www.biv.com/article/2017/5/bc-employment-growth-picks-april-while-rest-canada/

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Just me

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Having a job is not enough any more. What the BC Libs do is to promote their economic record, without adding that having a job does buy you shit in this city.
What good is to work your arse off if you cannot live a decent life?

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Combat roach

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You can live a decent life in Vancouver but you need a “fix” from the motherland. I met the lovely young Chinese couple, both with some average paying jobs 30K – 40K living in a 1+M$ condo and having 2 high-end German cars (SUV and sports sedan). They seem to be the right model citizens for this city, work the low paying jobs but maintain the high lifestyle due to a financial support from home. Who needs then real locals when these are much better, happy and content.

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ostritch

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Just like Manhattan. Same thing in every global city.

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Best place on meth

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Vancouver is not a global city, it’s merely a chinese laundromat.

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bullwhip29

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Toronto real estate speed dating
http://globalnews.ca/news/3429209/would-you-buy-a-house-with-a-stranger-toronto-real-estate-speed-dating-a-new-option/

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Abdul Lahazi

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Christy Clark defends TD Bank’s eligibility for $2.8-million tax rebate:
http://www.250news.com/canadian-press/?loc=1&id=4a44c032-9223-4808-90ba-049588ce8b40
“Every day, it’s getting harder and more expensive to live in B.C., and the only people getting ahead are Christy Clark and her rich friends,” said Eby in a statement. “British Columbians deserve to know how much of their hard-earned tax dollars Christy Clark has secretly handed to rich donors.”

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bullwhip29

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B.C. reacts to NY Times expose on $140M tax giveaway
http://www.metronews.ca/news/vancouver/2017/05/04/people-are-angry-bc-react-to-new-york-times-expose.html

One ten-year member of Advantage B.C. stood out for Levin: PacNet, a payment processing firm the U.S. Treasury Department listed as a “significant transnational criminal organization” on Sept. 22, alleging it “has a lengthy history of money laundering by knowingly processing payments on behalf of a wide range of mail fraud schemes.”

B.C. Liberal leader Christy Clark, dismissed the New York Times article to a News 1130 reporter: “I am really impressed that you made it all the way through that article,” the Premier said, “and were able to figure out what the guy was trying to say.”

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Combat roach

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Krusty should not defend anything but rather openly come forward about corruption, criminal organization, fraud, lie and cheat as ways to do business and run the province. That would inevitably provide liberals with even more supporters who came from countries and societies where these are part of general culture, business, and life conduct in order to get forward and take advantage of everything.

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What a fucking halfwit she is.

Only greedy homeowners would vote for this sack of dogshit.

They’ll get what’s coming to them when their grandchildren move away and never come and visit them.

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Ulsterman

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The grade 5 level, short-attention span stories of the Province are more Christy Clark’s speed than that elitist NYT rag and its lengthy, picture-free articles.

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Brian Ripley

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Strata prices in Toronto have caught up (within 2%) to Vancouver’s
http://www.chpc.biz/compare-toronto–vancouver.html

But as we have seen so far, the BC Gov’t helicopter drop of “free” 5 year 2nd mortgage money is still an incentive to go all in subprime.

And the program is not set to end until March 31, 2020…. that and listening to the Trumpster until 2020 is driving me crazy.

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bullwhip29

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Will money and arrogance cost Christy Clark the election?
http://www.news1130.com/2017/05/05/will-money-arrogance-cost-christy-clark-election/

>>> no, gangsters who are allowed to operate unchecked can apparently do and say whatever the f&*k they please and I expect nothing less from them this weekend. I heard rumors that the Libs (incl maybe krusty herself) are planning to descend on the mobs of people planning on attending the much expanded (due to federal Lib Cda 150 funding) Ships to Shore event/concert in steveston over the weekend to hand out more illegal flyers, thank everyone for coming and presumably give away other free swag in addition to using the family friendly event as the perfect backdrop for a photo op.

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Horgan should promise a public inquiry to investigate her criminal activity if elected.

Not just her but the corrupt cunt who preceded her as well – and all the ministers involved like Colin Hansen, who came up with this fraudulent program to funnel dirty chinese money into BC and give huge tax break to rich donors.

LOCK HER UP! LOCK HER UP!

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Oracle

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I agree. Lock her up or even death penalty. Enough is enough.

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bullwhip29

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Financing costs for Massey Tunnel replacement total $8 billion on $3.5-billion project
http://vancouversun.com/news/local-news/financing-costs-for-massey-tunnel-replacement-total-8-billion-on-3-5-billion-project

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Best place on meth

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“In a news release, the Liberals likened the loan to a mortgage and said they would be paying for it over 50 years to keep toll rates low for commuters.”

How is 50 years like a mortgage?

Anyway, the final cost will be double, at least $16 billion because….wait, look over there..fast ferries!!

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bullwhip29

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Ballots misprinted with mark for Liberal in Maple Ridge
http://vancouversun.com/news/politics/b-c-election-2017-ballots-misprinted-with-mark-for-liberal-in-maple-ridge

“Some ballots for advance voters in Maple Ridge-Mission were pre-marked for the B.C. Liberal candidate, in an apparent printing mix-up…”

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Best place on meth

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That’s a battleground riding, very close.

I’m sure it’s just an honest mix-up though.

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Oracle

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You have to fight these assholes like the way they think.

Being nice is a time long gone now.

Fuck them and take charge.

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BubbleTea

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The Greatest Ponzi Scheme in History
https://dailyreckoning.com/greatest-ponzi-scheme-history/
When this baby blows, real estates in Vancouver will be worthless!

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Combat roach

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That’s all cool and cute, their system and their banks, communism, ancient culture and wisdom, scam and all other their bullcrap impacting entire planet more or less. However, the failure of western institutions and politicians to prevent all that shit to spread across the West is more than epic.

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bullwhip29

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Vancouver Plans More Airbnb Limits to Ease Near-Zero Home Supply
https://www.bloomberg.com/news/articles/2017-05-05/vancouver-plans-more-airbnb-limits-to-ease-near-zero-home-supply

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bullwhip29

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https://www.bloomberg.com/news/videos/2017-05-05/vancouver-s-plans-to-cool-housing-market-video

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bullwhip29

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Abandoned and flooding Vancouver house raises fears for next door neighbour
http://www.cbc.ca/news/canada/british-columbia/abandoned-and-flooding-vancouver-house-raises-fears-for-next-door-neighbour-1.4102010

Strathcona home owner Louis Lapprend is more than a little worried about the abandoned house at 518 Keefer Street which sits less than a metre away from his own home. A peek through an open front window shows extensive damage from water which continues to pour down though the main-floor ceiling. Records show that a company called 518 Holdings owns the property which last sold in May of 2016 for $1.2 million. CBC News contacted 518 Holdings director Yani C. Jin, but she refused comment. Jin is a realtor with Remax.

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“”I feel like that house is going to collapse on top of mine and that doesn’t feel nice,” he said. ”
“Also infestation — any kind of rodent can get in and nest in there.”

We know, Louis. We know.

Infestation is a city wide problem these days.

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LS in Arbutus

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Well maybe a way to get around paying empty home tax as it will be uninhabitable, must be a get out of tax clause for that? Which does beg the question, any of these empty homes have been allowed to go derelict. Even if someone wanted to rent them out they’d require work. I have one a few houses down from me. Roof is shot etc. So lots of money needs to be paid in repairs or tax….

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bullwhip29

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pretty hard to maintain a heritage house that has toppled over due to rot and decay…

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Ulsterman

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I’m shocked the company even had letters in it. They’re normally 1258882888 Ltd and no one can readily determine who actually owns the property.

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Shut It Down Already

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Well clearly it’s possible to tell who controls the company.

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bullwhip29

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MacLean’s: What the Home Capital crisis reveals about the housing market
http://www.macleans.ca/economy/what-the-home-capital-crisis-reveals-about-the-housing-market/

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LS in Arbutus

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That article is a very good read.

So-called “phantom ticking,” where employees claimed to have verified income but hadn’t actually done so, was a “systemic” practice, the OSC charges.

In the end, the brokers cut loose by the company were responsible for originating $881 million in residential mortgages in 2014, about 10 per cent of originations that year. In the following months, Home Capital also tightened its underwriting controls and, together, the changes resulted in a slowdown in business. But in financial documents, the company blamed “cold weather” and general economic conditions. It took five months for Home Capital to fully disclose the reasons behind the decline.

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paulb

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New
181
Price Change
29
Sold
131
TI:8486

http://www.clivestevepaul.com

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Sebastien

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1 million in 3 days:
4250 Blenheim Street, Vancouver
May 1:$4,498,000
May 4: $3,498,000
Change: – 1000000.00 -22%

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Oracle

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You are a fucking clown you moron HAM.

Anyone with half a brain knows this is an overseas transaction.

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Ulsterman

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This is almost a year old but it’s interesting reading: “Asian real estate conference ridicules government foreign home buyers estimate”

“A provincial government statement that only 3% of B.C. residential sales are made to foreign buyers and that Chinese nationals represent just 2.5% of Metro Vancouver home buyers drew rolling eyeballs and laughter at the packed July 7 Asia Real Estate Association of America (AREAA) conference in downtown Vancouver.”

“Vancouver real estate agents were less cautious in their response to the government data.
“I would say 50% of house buyers, maybe 60% [are foreigners],” said Eve Chuang of Macdonald Realty.”

“Name the company Maple Leaf Enterprise and hire Joan Smith to head it. Suddenly you’re a Canadian investor.”

https://www.biv.com/article/2016/7/asian-real-estate-conference-ridicules-government-/

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Just me

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Where are newcomer and SIDA when one needs them?

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Best place on meth

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One crybaby stormed off like a 2 year old, the other continues to do a bang up Baghdad Bob impersonation.

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Shut It Down Already

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Another Friday night alone? Do you blame foreigners for that too?

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Just me

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Not all foreigners…just the ones who cheat and steal.

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Shut It Down Already

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They stole your friends?

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Oracle

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Hopefully gone back to China.

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Just me

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Finally someone in the local press ackowledges the single most important driver of our crazy real estate valuations.

http://vancouversun.com/opinion/columnists/douglas-todd-vancouver-is-a-money-laundering-haven

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Oracle

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Can’t believe you guys debated this issue for so long.

Of course it’s all foreign money.

And if it takes stopping all Immigration from china to achieve sanity to livability here, then I will do all I can to achieve this goal.

Others have got to stop being so politically correct.

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Best place on meth

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Race tightens again, now it’s 50/50

http://www.cbc.ca/news/canada/british-columbia/bc-2017-poll-tracker-1.4054593

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Best place on meth

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Conflict of great interest: New York Times reporter stands by story on B.C. ‘Kafkaesque’ political donations

http://www.metronews.ca/news/vancouver/2017/01/18/ny-times-reporter-story-on-bc-kafkaesque-political-donations.html

I was shocked that this was happening in Canada, I think Americans would be shocked, and frankly I think Canadians would be shocked too. No elected official in the U.S. is allowed to get a stipend; that would be bribery.

I lived in China for seven-and-a-half years; in China or Russia this would just be called ‘corruption’ or ‘nepotism.’ But here, it’s just ‘legal.’ The idea that a Conflict of Interest Commissioner who’s never found anybody in violation of conflict of interest (rules) in all his many years, whose son works in the government he’s meant to rule on — it seems like a Kafkaesque dystopian nightmare of shady politics and conflict of interest.

Funny he should mention china.

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Whistler or Bust?

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http://www.cbc.ca/news/canada/british-columbia/shaughnessy-homeowner-compares-housing-density-to-stacking-of-human-cargo-on-slave-ships-1.4102351

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bullwhip29

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BC Liberals’ promise of home-sale protection fixes left in limbo
http://www.theglobeandmail.com/news/british-columbia/bc-liberals-promise-of-home-sale-protection-fixes-left-in-limbo/article34912956/

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Best place on meth

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Man oh man, I remember the names Wilson and Tyabji like it was yesterday.

http://vancouversun.com/news/local-news/mother-of-fentanyl-victim-speaks-out-against-alleged-fentanyl-importers-work-on-liberal-campaign

That was pretty fucked up back then, but this takes the cake.

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Just me

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“I think it’s a slap in the face,” Jansen said. “I think it demonstrates (B.C. Liberal leader) Christy Clark’s leadership. She speaks out of both sides of her mouth.”

It takes a grieving mother to point out the obvious. If you keep voting for that amoral criminal called Christy Clark, you deserve all the bad that will come to this Province.
This is truly disgusting.i can barely believe it.

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Never mind bad things for the province.

Anyone who knowingly votes for a corrupt slimebag deserves personal misery and tragedy for the rest of their lives.

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YVR

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Anyone who knowingly votes for a corrupt slimebag deserves personal misery and tragedy for the rest of their lives.

Don’t be so hard on people who vote NDP.

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Just me

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As the song says, “some people like to abuse, some people like to be abused”.
I guess that by voting for the BC Libs you are indicating you enjoy being abused and taken for a ride. They rely on people like you to maintain power and profit from public funds. Corruption is ripe, but you condone it in full and with no reservations.

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Best place on meth

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YVR, you are one sick fuck.

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Abdul Lahazi

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Once again the Libs dismiss the concerns of the critics which just shows how arrogant the Libs are.
“Wilson is the son of Gordon Wilson, who was leader of the B.C. Liberals from 1987 to 1993 and currently has a $150,000 government gig as an advocate for B.C.’s liquefied natural gas industry.” What does he REALLY DO to *earn* this 6 figure taxpayer funded salary?

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bullwhip29

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CTV investigation: Millions in donations from B.C. Liberal appointees
http://bc.ctvnews.ca/millions-in-donations-from-b-c-liberal-appointees-ctv-investigation-1.3400976

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Best place on meth

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This province has become so corrupt during 16 years of Liberal rule, even a 9.2 earthquake might not be enough to cleanse the landscape.

Anyone who casts a vote to give this organized crime group 20 years of continious power is a disgrace to to the human race.

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YVR

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20 years of continious power is a disgrace to to the human race.

20 years of power is actually a disgrace to the NDP. The NDP can’t figure out even though people would like to change government the NDP is so incompetent with outdated policies they are not a consideration no matter how bad the Liberals seem.

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Best place on meth

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Your hatred of a political party that has not had any power in 16 years is disturbing.

What the fuck is wrong with you?

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YVR

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Meth boy is calling me disturbing? Coming from you I will take that as a compliment.

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southseacompany

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Gregor on Bloomberg;

“Vancouver’s Plans to Cool Housing Market”

https://www.bloomberg.com/news/videos/2017-05-05/vancouver-s-plans-to-cool-housing-market-video

“Vancouver home prices continue to be the highest in Canada with a benchmark price of $941,100 in Metro Vancouver in April, an 11 percent increase from a year ago. Bloomberg’s Mark Bunting talks to Vancouver Mayor Gregor Robertson about the success of the newly-implemented empty homes tax”

Vancouver Condo Info

Friday Free-for-all! May 5th 2017

Bubble? What Bubble?