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Vancouver Review

Vancouver Daily Review – Welcome back video. Family emergency took us away for a fews weeks. Daily video will, hopefully, resume tomorrow.

https://youtu.be/4I8u7QyS0n8

southseacompany

“Canada’s Big 6 banks downgraded in credit ratings”, CBC News video

https://www.youtube.com/watch?v=i0hq1v9fINU

“Moody’s lowered the ratings of Canada’s major banks in response to the high debt levels Canadians are carrying and the record-high home prices in cities across the country.”

Doomcouver

As they should be. Canadian sub-prime mortgages are a bigger problem than anyone realizes.

bullwhip29
Best place on meth

I was listening to CKNW on the radio when the news came on and the top story was the Okanagan flooding.

The announcer was talking about the emergency situation and what local authorities were telling people in the area, but instead of saying “residents are being advised to evacuate” he actually said “home owners as well as renters are being advised to evacuate”.

This is what BC has become.

Combat roach

Do homeowners have precedence over renters in BC, in case of disasters and other emergencies, due to their class and social status?

YVR

You are a lot better off being a renter when disasters like this strike. There is a big difference that is fair to note. I would have the moving truck packing right now and be sending my landlord notice by registered mail they are responsible for my moving costs, interim accommodations and our rental agreement is terminated.

patriotz

“would it be safe to assume the bulk of absentee votes are of the mail in variety?”

No, in fact mail in are a tiny fraction of absentee votes. The largest parts are in-riding absentees (at least in for non-metro ridings), then out-of-riding (but in BC) absentees, both at polling stations. Here’s a summary of Courtenay – Comox from the 2013 election. Note that the NDP won the absentee vote but lost overall.

Ballot summary

bullwhip29

Clark Is Done; NDP and Greens Now Need to Deliver the Change BC Voted For
https://thetyee.ca/Opinion/2017/05/11/Clark-Is-Done/

Whistler or Bust?

Why should the losers form the Gov’t?

patriotz

Any MLA is a winner because… they won.

Any group of MLA’s that comprises a majority has the right to form a government because…. they’re bigger than the rest of the MLA’s.

Spec

Exactly! The Libs only got 41% of the vote. They shouldn’t form government…. but keep on recycling that ol’ Harper talking point ya yutz.

Best place on meth

Libs were the losers this time.

Are you concerned about your precious UBER?

YVR

The Liberal may still have a majority. I guess when you lose 5 elections in a row like the NDP a close second starts looking like a win. If I was an NDPer I would just pack it in, disband the party and apologize to all those who donated money over the years.

SpacedOut

I have no doubt. Sounds like the type.of move you’d make.

history

comments are a zinger. BC politics can be quite entertaining.

But im still of the mind that Christy and Weaver will work something out. Furstenau and Weaver know a thing or two about water, the new BC gold. And Clarks party is opportunistic by nature, hehe, sorry for the pun.

Whats the old plumber joke? Something about the direction of sewage and the day they get paid?

Combat roach

There you go…

“Citing her own experience, Hartley suggested that it’s always a good move for prospective home purchasers to invest in Vancouver.”

http://www.straight.com/news/907881/home-search-vancouver-couple-decides-best-option-move-across-water

Shut It Down Already

Clearly they’re rich foreigners fleeing the FBT and driving up Victoria prices, much to the dismay of the locals.

history

Hartley refinances her new Victoria mortgage in 3,2,1…

southseacompany

“Moody’s downgrades Canadian banks: Beginning of the end for the housing market?” Global

http://globalnews.ca/news/3443462/moodys-downgrade-canada-housing-crisis/

“Credit ratings agency Moody’s Investors Service downgraded Canada’s big six banks on Wednesday evening, citing concerns about soaring household debt and housing prices.”

“Toronto-Dominion Bank (TD), Bank of Montreal (BMO), Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada and Royal Bank of Canada had their ratings on two key metrics lowered by one notch, Moody’s announced.”

kabloona

“Stop being a ‘safe haven’: How Canada could do a better job keeping ‘dirty money’ out of the country Improve reporting of suspicious transactions and tighten real estate rules, experts say” http://www.cbc.ca/news/business/weaknesses-financial-intelligence-canada-1.4106391 “……The Transparency International report found the true owners of many of Vancouver’s most expensive real estate were masked by corporate structures that don’t reveal beneficial owners, making it challenging for authorities to know whether any of the properties were used to hide dirty money. In its 2017 budget, the federal government promised to work on changes to improve transparency into who owns corporations. In Ontario, the government started requiring new information last week about the beneficial owners of companies buying land with one to six houses or agricultural property. Canada’s stable economy and hot housing market make real estate the ideal place to park corrupt money, says Cooperman.… Read more »

Abdul Lahazi

Ironically, Canada’s “stable economy” will be destabilized by this inflow of corrupt money. It is inevitable.

history

Where are the mortgage refiance stats? Refinance velocity determines prices. Saretsky on his cell phone cutting deals in seconds with offshore money, that type of thing.

Hyper-mega-Bull

Any idea when the real estate roller coaster will be updated?

history

im not a mortgage broker prince, or banker king, so i dont have it. There’s a river in Egypt, i know that much.

Bestplaceonearth

Well, didn’t your parents teach you how to say please and thank you when you ask for something free?

history

of course… and im still waiting for the Thank You for Nailing the Reason for the housing bubble. I’ll acknowledge your response as a positive indication.

the View from my papyrus boat is serene and tranquil. Really doesnt matter about the refinance stats, since ive got the correlation

history

Velocity of refinancing vs prices, positively correlated 0.82

wink, wink, say no more, say no more, know what i mean?

… as i take off for that sunny spot in the Caribbean,,,, one .. last… time… (damn airport cab driver, doesnt know Uber speak)