the $200 margin of error

This is hard to believe, but apparently more than half of all Canadians are just $200 away from not being able to pay their bills.

“With such a small amount of wiggle room, any kind of unanticipated hardship, such as a job loss or even a car repair, could send an already struggling family into financial despair,” said Grant Bazian, president of MNP’s personal insolvency practice, which is one of the largest in Canada.

For 10 per cent of Canadians, the margin of error when it comes to household finances is even thinner, at $100 or less.

But those with anything at all left at the end of the month were in better shape than many: A whopping 31 per cent of respondents said they already don’t make enough to meet all their financial obligations.

Then there’s this little detail:

Another hair-raising finding from the survey: Roughly 60 per cent said they don’t have a firm grasp of how interest rates affect debt repayments.

The statistic helps explain why many indebted Canadians end up taking on more debt and high-cost loans, said Bazian. “That’s how so many end up in an endless cycle of debt,” he noted.

Shouldn’t be a problem, interest rates are low forever now aren’t they?

Read the full article over at Global News.

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Combat roach
Guest
Combat roach

Fortunately, Canadians can easily borrow more to extend those $200 if there is a need. Didn’t we learn that those who borrow beyond their minds will get ahead and those who save or act responsibly would lose in a long run?

history
Guest
history

debt wins on this go around. It lost big during the 30s. Tax evasion wins big today, it was how you ended up in San Quentin during the last depression. Nationalism was yuge then, Multi-passports are your ticket to ride now, plus a thong to hang around the Captains neck.

Patiently Waiting
Member
Patiently Waiting

Christy Clark keeps campaigning in Richmond. Something’s up, and it might be NDP support. Believe it or not.

bullwhip29
Guest
bullwhip29

agreed. she should parading around in hip waders not slithering around in Rmd where she is likely inking various dodgy backroom deals in case things don’t go as the msm says they will on Tues. imho, if the fix is not in due to too many watching her every move and she loses the election handily then I expect her to disappear into the ether never to be seen again. given much of what we have seen and heard over the last several months, I am still betting certain safeguards were put in place a long time ago to rig the outcome in her favor and for now I am sticking to my original prediction:
http://vancouvercondo.info/2017/04/have-we-seen-this-movie-before-canada-surpasses-us-bubble-peak.html#comment-298827

patriotz
Member

“Christy Clark keeps campaigning in Richmond. Something’s up”

I don’t think she’s the least bit worried about losing any seats in Richmond. But campaigning there is the best way to get media exposure with the Chinese community throughout metro Vancouver. I think she’s trying to really Chinese support in places like Burnaby and Coquitlam.

Dave
Member

The NDP aren’t nearly as plugged into the Chinese community as the Libs and I doubt they will ever make those in-roads. It’s even worse for the Greens.

If the Libs can get that vote out, it makes a huge difference and I bet a lot of that is missed in the polls. If only 10% of that demographic hangs up the phone more often (e.g. language barriers), it’s a huge number.

Hyper-mega-Bull
Member
Hyper-mega-Bull

bear logic: raising interest rates would be economic suicide, therefore i think that the bank of canada will raise rates.

Joe Money
Guest
Joe Money

We do not live in a command and control economy. The Bank of Canada does not raise overall market interest rates. It can only raise or lower it’s own overnight rate, influencing short term variable rates. Influencing – not commanding..

The global market for debt determines the overall cost of debt, and the cost of debt is slowly rising. If that rise is significant there’s little the BoC could do to temper it.

Hyper-mega-Bull
Member
Hyper-mega-Bull

show the graph of rates rising.

Joe Money
Guest
Joe Money
Hyper-mega-Bull
Member
Hyper-mega-Bull

>the average rate on discounted five-year fixed rate mortgages for borrowers with a down payment of less than 20 per cent was 2.34 per cent.

>20 per cent down payment…RateSpy data shows the average rate has climbed to 2.87

Joe Money, that article is from january and mortage rates have come down since then. you can go to ratespy and see for yourself.

here is a video by the same author from a week ago where he says that mortgage rates are “stable”, and “pressure for a rate increase evaporated”.

i’m so glad i can help you understand these complex issues.

Hyper-mega-Bull
Member
Hyper-mega-Bull
Doomcouver
Guest
Doomcouver

I am a bear and I don’t believe for a second that the BoC will raise rates to control the housing market. They will raise rates because inflation will be getting out of control after a few USA rate increases.

patriotz
Member

In fact the legal mandate of the BoC is to target consumer price inflation. They do not have a legal mandate to target housing prices or other asset prices.

Shut It Down Already
Guest
Shut It Down Already

It was an online poll, so take it with a grain of salt.

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29
Combat roach
Guest
Combat roach
Abdul Lahazi
Guest
Abdul Lahazi

Meanwhile the CRA, the police, the federal and provincial governments, the immigration department, the real estate industry and everybody else just turns a blind eye to the criminals living here. What a disgrace this country has become; we have whored ourselves out to a bunch of criminal vermin. And regular Canadians trying to live here pay the price. It is sickening.

Combat roach
Guest
Combat roach

They are perfectly protected here from the either side and they know it. The same way as Nazis were protected in South America after the Second World War.

http://www.history.com/news/how-south-america-became-a-nazi-haven

50 cents
Guest
50 cents

Bullwhip 29 spends his time in the basement being bitter like a true whinny little losa….

Doomcouver
Guest
Doomcouver

Hopefully Trudeau gets an extradition treaty with China signed. Then all the criminal rats will scurry to the USA instead. If he does that then he’s pretty much the greatest PM ever.

patriotz
Member

Canadian courts are unlikely to extradite anyone to China, treaty or no treaty. Not only does China torture and lock up at will accused persons, they abuse the lawyers who defend them.

http://www.hrichina.org/en/mass-crackdown-chinese-lawyers-and-defenders

squeak
Member
squeak

“Douglas Todd: Government must crack down on dark money to create housing affordability in Vancouver” from Vancouver sun.

Well, that is kind of “nice”, 17 years ago, that is.
As for “now”, to be honest, those young people/families with smarts/get go/talent have already left or in the planning/process to leave BC.

Also, it is not only about “affordability”, how about integrity or is that a bad concept for this country? Heard of it TT/CC?

Hyper-mega-Bull
Member
Hyper-mega-Bull

learn mandarin. that’s your only option at this point.

Doomcouver
Guest
Doomcouver

I think 1907 is the other option, if you catch my drift.

patriotz
Member

The people of BC have an option to actually do something today. If they don’t do anything, why expect anything else to happen.

50 cents
Guest
50 cents

Why don’t you polish on your English first dumb redneck

Shut It Down Already
Guest
Shut It Down Already

Oh, the irony.

KickThemOut
Member
KickThemOut

For those with short memories, same kind of warnings and calls for action were prevalent in the 80s, 90s, 2000s, and current decade.

bullwhip29
Guest
bullwhip29
Abdul Lahazi
Guest
Abdul Lahazi

This was posted previously but I think the first line of this story fits BC perfectly:
http://globalnews.ca/news/3436095/trump-kushner-visa-china/
“Plenty can go wrong when foreign money mixes with immigration green cards, real estate deals and political connections.”

CBM999
Guest
CBM999

Liberal MAJORITY expected tomorrow.

http://vancouversun.com/news/local-news/new-poll-points-to-liberal-majority-despite-slight-ndp-edge-in-support

I’m not so sure about this poll as everyone I know voted NDP this time who voted Liberal last time including myself…..but they may have a point….I don’t know.

patriotz
Member

If the polls are basically even I would say a Liberal majority based on better turnout of their supporters. There will be no Liberal minority because any Green gains would come at the expense of the NDP.

However I don’t expect that 20% Green support to hold up on election day. Probably half of them will split to the LIberals or NDP depending on which they find more palatable. That will decide the winner tomorrow night.

LS in Arbutus
Guest
LS in Arbutus

I agree, lots of people I know, including myself, are so mad at the liberals we are voting NDP. People are really fed up.

history
Guest
history

“Weaver’s strategy of sidling up to Liberals”

Green win two seats, and it’s the balance of power..

http://richardhughes.ca/

paulb
Member
Active Member

New
386
Price Change
52
Sold
252
TI:8570

Just listed! 3170 Benbow Road, West Vancouver https://youtu.be/ObLamJwSVw8
We list and sell a lot of real estate on the North Shore & Vancouver. I’ve always appreciated the support of the VCI community. If you know of anyone thinking of buying or selling don’t forget us! TY Paul http://www.clivestevepaul.com

Bestplaceonearth
Guest
Bestplaceonearth

Thank you for the clip, but I don’t think this price is supported by fundamental. The market must crash. Right bears!

history
Guest
history

a headline article from MNP, fancy that. Didnt Dave and I banter on this forum about washed up mortgage brokers switching sides at some Inflection point in the RE refinance imbroglio? Could we be on the cusp?

insolvency stalking ever more people, good for Someones business, because bankruptcy is Verbotin. Insolvency means creditors eat a few percentages, to keep the dead alive… the walking dead.

and i would of thought todays Globe and Mail offering would of been the headline act. You know the story? About all three BC political parties saying the election results wont damage sweet equity. Tis true. The Feds have this one in their corner. Flaherty and Carney set the bait, and Trudeau switched it out.

Whistler or Bust?
Guest
Whistler or Bust?

One more day till UBER gets approved!

No more waiting 45 mins for a dirty cab with a driver who doesn’t know how to get the airport.

history
Guest
history

and when people arrive at the airport, where is their destination? How is travel financed?

Best place on meth
Guest
Best place on meth

Oh yeah, I hear UBER is every voters top priority this election.

YVR
Guest
YVR

You’d be surprised how silly policies like this keep people from voting for the NDP. A policy that most voters want and cost tax payers nothing. It will even create a few jobs. Only the NDP could be so stupid.

patriotz
Member

“cost tax payers nothing”

Uber costs the taxpayers plenty because it and its operators don’t pay the taxes that legitimate taxis do.

Grim
Guest

this gives many people that don’t have jobs, jobs. So now they go out and buy things at stores, that money goes back into the economy. Its a good thing. Learn economics.

YVR
Guest
YVR

Of course Uber drivers will pay taxes and they also collect GST just like taxis. Plus there will be more of them. Something an NDPer can’t understand. Economic activity increases tax revenue. Just look at the NDP record. Higher taxes with lower tax revenue.

history
Guest
history

a bloated snivel service is what costs taxpayers. Lay off half the Ottawa eunuchs and we we wouldnt miss them.

Just me
Guest
Just me

http://vancouversun.com/news/politics/foreign-students-at-ubc-squeezing-out-domestic-applicants-profs-paper-argues

Wylie said foreign-student numbers are set to grow dramatically in Canada since the federal government recently became one of the few in the world to make an “integrated offer” to international students.

The integrated welcome to foreign students promises them the chance to work during their time in school and for three years after they graduate, as well as apply for citizenship.

The B.C. Council on Admissions and Transfers reports that two of three foreign students in the province hope to stay in Canada.

Oracle does nit seem so crazy after reading this study by a UBC prof? Is this prof a closet racist, or is university becoming just a form of immigration for the rich and privileged from China and other countries?

realist
Member
realist

“is university becoming just a form of immigration for the rich and privileged from China and other countries?”
Yes, just like every other mainstream organisation. If you need to ask, you haven’t spent much time recently at UBC. Our universities were early and uncritical adopters of, and are now avid propagandists for, political correctness. They discovered the private sector and corporate money in the 1980’s. This is a potent combination that explains most of what they are and do today. Their perspective is (neo)-Liberal and globalist.

patriotz
Member

” Their perspective is (neo)-Liberal and globalist. ”

But you said two sentences earlier that they are “avid propagandists for, political correctness”, which is a term used by right wingers to insult left wingers. Are you trying to say something coherent, or just stringing buzz words together?

realist
Member
realist

Pardon my use of the slang term of “p.c.”; no insult was intended to any wing or anyone; instead read “social justice issues” or “human rights issues”. Social justice/human rights advocacy is used to preclude criticism of pro-immigration policies advocated by globalists, and the neo-Liberal agenda. To “wing it”, if you will, it is a clever use of an apparent “left wing” position to promote a “right wine” cause.

Joe Future
Guest
Joe Future

Neo-liberal globalists and left wing social justice PC’ers are now becoming allies against the populist nationalist protectionists.

A new political paradigm is emerging.

realist
Member
realist

I believe that political paradigm first emerged with “3rd way” Blairite Labour, and is in full flower with Clintonite Democrats. The “Left” concentrated on identity politics, while the “Right” deindustrialised the West as part of their effort to “trickle up” wealth to the 1%.

history
Guest
history

True, especially the last line. They are full of hopes and wishes, to obtain employement in Ottawa or the UN, and fill spare time on Social media websites. Never to work in real occupations, producing real goods, or essential services.

Best place on meth
Guest
Best place on meth

“B.C. currently hosts 130,000 international students, compared to 90,000 in 2010, said Wylie, citing the B.C. Council for International Education. Four out of five are housed in Metro Vancouver. Two of five now come from China.”

That’s 100,000 foreign student who need housing in metro Vancouver, which puts a lot of pressure on the rental and real estate markets.

It’s not just local students that are getting squeezed out.

YVR
Guest
YVR

We have to get our immigrants from somewhere. University educated young adults, who speak English, are partially educated here and have worked here for a few years seem to be a pretty good immigrant class to me. Very different from a middle aged immigrant who comes here wealthy and have no intention of working, starting a business, learning English or assimilating. As well we only need so many Filipino nannies and elderly South Asians.

Combat roach
Guest
Combat roach

Shit, sounds like new China in making. Monolithic society of privileged cyborgs.

Doomcouver
Guest
Doomcouver
I think YVR is right, young immigrants that want to learn the language and employable skills and go out into our workforce are the top of the heap in terms of what immigrants we should want. There’s two problems with that though. 1. Housing is becoming near impossible for Canadian students to afford. Universities should do more to set aside affordable housing for Canadians, otherwise we’ll risk all the best paying jobs going to wealthy immigrants because we can’t afford to get an education. 2. In the coming recession, most foreign students will likely go back to their own country, or the USA where job prospects are better. Brain drain is going to be a real issue for Canada. Canadian students have more incentive to stay here, thus should be pushed to the front of the queue for admission.
bullwhip29
Guest
bullwhip29

these “for profit” colleges and universities are essentially operating as immigrant toll booths. perhaps the bigger issue is that many non chinese speaking folks won’t get a job here anyway regardless of whether they have a degree or not.

Shut It Down Already
Guest
Shut It Down Already

Is he a closet racist? Well, I don’t see him flingingout our racial slurs, calling for the annihilation of a country, or blindly supporting those who do. He also presents some verifiable facts.

So you’re delusional if you think your opinions are even in the same ballpark as his analysis and that you’re somehow being treated unfairly.

Sebastien
Guest
Sebastien

Failed flip from last year? : https://www.youtube.com/watch?v=Bn77SndSiVo
281 N Howard Avenue, Burnaby
Oct 17:$6,888,000
May 8: $5,188,000
Change: – 1,700,000 -25%
Assessment: $5,112,100

bullwhip29
Guest
bullwhip29
patriotz
Member

How Homeownership Became the Engine of American Inequality
As it has in Canada. Canada doesn’t have deductibility of interest payments on principal residences, but it has a blanket exemption on capital gains for them, which the US doesn’t have.

patriotz
Member
bullwhip29
Guest
bullwhip29

Home Capital to sell $1.5B worth of mortgages to mystery buyer
Savings account deposits down to $146M as of Monday, lender reveals
http://www.cbc.ca/news/business/home-capital-tuesday-1.4106037

bullwhip29
Guest
bullwhip29

only an idiot would buy shares in this as the least bad portions are sold off on cushy terms (or maybe not as the news release suggests) and the toxic waste left behind for original shareholders to suck on. after seeing what the co did with HOOPP, I have no doubt today’s news is also of the fishy and convoluted variety. since this sounds like nothing more than a letter of intent, there is no way of knowing if this small act of good faith actually materializes or if it is nothing more than a ploy for certain interested parties to dump shares at slightly higher prices only to have the buyer walk away after the fact…

Abdul Lahazi
Guest
Abdul Lahazi

HCG up 25% today. Buy on rumour and sell on fact.

bullwhip29
Guest
bullwhip29

short covering, bottom fishing and likely window dressing for upcoming meeting…surely some jim cramer-bear stearns-esque analyst touts are coming in the next few days too.

endgame will ultimately be bad news for hopium fueled investors. no credible institution will do business with them going forward, HISA deposits will drop to zero leaving HCG with no choice but to obtain even more credit and/or resort to selling off remaining usable body parts for pennies on the dollar.

bullwhip29
Guest
bullwhip29
Abdul Lahazi
Guest
Abdul Lahazi

The idiots are at it again:
http://www.cbc.ca/news/canada/british-columbia/need-for-speed-proves-costly-and-dangerous-for-sea-to-sky-luxury-car-rally-drivers-1.4104760
Can I bring my 2007 Toyota Corolla? Oh, right, I am just a regular Joe with a real job and paying taxes to support these clowns.

Shut It Down Already
Guest
Shut It Down Already

How are you supporting them financially?

Combat roach
Guest
Combat roach
Shut It Down Already
Guest
Shut It Down Already

What on earth are you on about this time? I’d imagine some of these people pay way more tax than either of you. They’re supporting you!

Does that give them free reign to speed on our highways? No, of course it doesn’t. But to say you’re “supporting” then? Come off it.

bullwhip29
Guest
bullwhip29

up until recently we were footing the bill to replace their busted up supercars…just sayin’…

Combat roach
Guest
Combat roach

“They’re supporting you!”

You are perfect Freud’s material. Your servile obsession with locusts and their wealth, power, and significance is just unexcelled.

Shut It Down Already
Guest
Shut It Down Already

That’s your counter argument?

I’m not the one who is obsessed. Why not find another topic to post about – may I suggest real estate?

bullwhip29
Guest
bullwhip29

NDP candidate targeted by hateful flyers in Maple Ridge and Pitt Meadows
http://www.news1130.com/2017/05/09/ndp-flyers-maple-ridge-pitt-meadows/

>>> it’s funny that no one follows up on this BS when certain folks are pulling the strings. had this been the other way around surely the RCMP would have been dispatched within hours and new attack ads produced

bullwhip29
Guest
bullwhip29

I just laughed when I saw this…just when you think the Vanc Sun can’t sink to another low, they manage to find a way

Innovation in B.C.: Apps, websites and messaging systems speed up real estate transactions
http://vancouversun.com/technology/personal-tech/innovation-in-b-c-apps-websites-and-messaging-systems-speed-up-real-estate-transactions

history
Guest
history

the link has merit. Technology in play, leading to higher velocity dealmaking which spurs price gains. Not much different than the use of technology by the mortgage boilerooms. Where would they be without a phone and APPs? answer: lower RE prices. .. or prices not rising as fast.

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

NEWS 1130 – We asked Christy Clark, John Horgan and Andrew Weaver a few questions that offered a different insight into the Premier hopefuls…
http://www.news1130.com/2017/05/09/different-side-bcs-party-leaders/

bullwhip29
Guest
bullwhip29

If You Could Have Any Superpower What Would It Be?
Clark: “Invisibility. You can go places and nobody knows you’re there. You can get on planes for free!”

Plane, Train, Automobile or Boat?:
Clark: “Boat. 100 per cent boat. I love boating!”

Ideal spot for a vacation in BC?
Clark: Gulf Islands >again, as long as there is a private dock or a runway, she’s there in a heartbeat…>

history
Guest
history

Christy is telling you something here. BC Capitalists operate from their estates and boats in the Gulf Islands. The problem is that Horgans guys operate the boats, fuel the boats, tie up the boats, work in the gulf restaurants… catch my drift? Christy’s gang needs cheap labour, or they are finished.

bullwhip29
Guest
bullwhip29

National Gallery of Canada receives one of the largest gifts of contemporary art ever from businessman and art collector Bob Rennie
http://www.newswire.ca/news-releases/the-national-gallery-of-canada-receives-major-donation-of-art-valued-at-more-than-12m—contemporary-art-gallery-space-named-in-honour-of-donor-621750593.html

kabloona
Member
kabloona

Rennie got a $12,000,000 tax credit for donating that junk…?

Wow, he’s even smarter than I thought!!!!

😉

Abdul Lahazi
Guest
Abdul Lahazi

Hey ,the “system” really does work !

bullwhip29
Guest
bullwhip29

$554K price tag to replace iconic tree at top of condo building
http://bc.ctvnews.ca/554k-price-tag-to-replace-iconic-tree-at-top-of-condo-building-1.3401073

“Strata documents obtained by CTV show the owners of the building’s condos have no choice in the matter. The city’s building permit was contingent on having a rooftop tree, so owners will have to pay about $35,000 per unit for its replacement.”

Abdul Lahazi
Guest
Abdul Lahazi

They should install a fake tree. It’s so high up no one could tell if it’s real or not.

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