Thursday Free-for-all! June 15th 2017

It’s the end of another week and that means it’s time for another Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:

Poloz: ‘anything’ could cause correction
Owners face threat of rising rates
Interest rates are a blunt tool
Realtor revolt
Manitoba wants foreign buyers

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

167 Comments on "Thursday Free-for-all! June 15th 2017"

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Screwed
Guest
Screwed

It’s not even Friday yet

Oracle
Guest
Oracle

Admin drinking too much these days as NDP/Green housing platforms may have just been a vote buying decoy and nothing more.

Just kidding. Don’t ban me.

Oracle
Guest
Oracle

On another note, what parts of the NDP/Green platforms will become law in your opinions?

I think nothing will happen as they remain awfully silent on this yet keep touting transit, $10 childcare, etc.

Opinions?

bullwhip29
Guest
bullwhip29

nothing will happen until the do-over election is completed. when that happens is anyone’s guess. in the meantime the chess pieces in victoria will be shuffled around somewhat, but the end result will be a hung parliament. with all that is going on in global politics, i suspect people will completely tune all this out especially if it drags on for months and months, which would probably be advantageous to our current gangster-in-chief. one could argue, however, that some voters will be even more pissed off with the Libs while others might question whether or not the greeNDP revealed to all their ineptness to govern as they royally fumbled their opportunity to finally take charge in the weeks/months following the election.

bullwhip29
Guest
bullwhip29

B.C. finance minister Mike de Jong to speak on government ‘stability’
http://vancouversun.com/news/local-news/live-b-c-finance-minister-mike-de-jong-to-speak-on-government-stability

Abdul Lahazi
Guest
Abdul Lahazi

Average hourly wages in Canada have barely budged in 40 years:

http://globalnews.ca/news/3531614/average-hourly-wage-canada-stagnant/

Meanwhile, look at what’s happened to house prices in the same time frame.
Wage suppression is due in part to globalization and mass immigration.

paulb
Member

New
214
Price Change
68
Sold
310
TI:9145

http://www.clivestevepaul.com

Fomo
Guest
Fomo

Chatting with office mates today. FOMO is still very alive and well.

MarKoz
Member

B*gger…
http://vancouversun.com/news/local-news/ndp-softens-position-on-speculative-real-estate-tax

Will no political party ever address this? Guess not…

YVR
Guest
YVR

“We don’t want to be forced into pursuing a tax. If experts say a tax isn’t going to address the issue, then we’ll look at other options — it doesn’t have to be a tax,” Eby said.

Forced? Experts? I thought Eby was the expert who was taking the plan from the UBC experts? LOL. Anyone want their vote back?

YVR
Guest
YVR

Here are Ebys experts he is now taking advice from:

Eby’s comments come one day after Gregory Klump, chief economist with the Canadian Real Estate Association, said…

The B.C. Real Estate Association’s chief economist …Muir also expressed concern about a speculation tax…

history
Guest
history

Taxes are additive, bad.

Better to subtract the power and influence of Mortgage brokers, which the Fed is doing.

The battle is to not allow our society to slip into deflation

Non workers are growing, but continue to want a free ride. They love FIRE.

FIRE worrkers are savage beasts, that look under every knook and cranny to leverage real workers.

Real service workers are being depleted because wages dont buy security.

In December 2017, Saturn moves from Fire to Earth. In May 2018, Uranus moves from Fire to Earth.

Earth is real

Oracle
Guest
Oracle

I think it means the backbenchers of all the parties are the same. I’m hearing from credible sources that no action will be taken on foreign money and 2nd homes by the NDP government.

Part of me thought this was going to be the case. Strategy seems to be split the vote between NDP and Green equally for next election and allow Liberals to govern again.

FoMO is alive for a reason.

I’m convinced, move or buy soon. Town homes will soon be out of reach even in suburbs.

Wives will have to be prostituted to pay rent. I kid you not.

Best place on meth
Member
Best place on meth

Are your anonymous sources the same ones used by the Washington Post?

Oracle
Guest
Oracle

Dude, Eby said it himself.

Oracle
Guest
Oracle

Basically NDP housing platform was a lie along with Green.

Abdul Lahazi
Guest
Abdul Lahazi

“I’m hearing from credible sources” LOL. What a joke you are.

Oracle
Guest
Oracle

Came from Ebys mouth you moron. isnt that credible enough for you?

Best place on meth
Member
Best place on meth

“Anyone want their vote back?”

Oh yes please!

I’m just dying to change my vote to Christy the fucking Corrupt Cunt Clark.

Everyone I talk to says the same.

Oracle
Guest
Oracle

Isn’t it clear that he people behind the 3 parties are the same. They are playing the electorate.

Best place on meth
Member
Best place on meth

All I know is that Landlord Mike is going to be putting 8 Abbotsford properties on the market if the NDP form government.

YVR
Guest
YVR

“I’m just dying to change my vote to Christy”

You may have a chance to do that soon.

Abdul Lahazi
Guest
Abdul Lahazi

This will piss off a lot of voters who voted NDP for just this issue.

MarKoz
Member

I’m thinking they are looking at this the way politicians always do… We have a 1 vote majority (with the Greens). The second we have the first underwater mortgage on a 400 sq ft condo the voters will kick us out on our collective asses.

llll
Guest
llll

we don’t need a speculative real estate tax, we need a head tax.

history
Guest
history

https://www.canadianmortgagetrends.com/2017/06/mcap-bmo-bigger-picture/

McLister slams the bank. Posted from the site he resigned.. hohoho

Oracle
Guest
Oracle

Looks like EBY pulled a Trudeau. Turns out the guy is a liar. Says whatever to get elected.

No 2% tax and the Foreign buyers tax will not be expanded.

That’s why there was panic to buy at the Joyce development today.

YVR
Guest
YVR

“Looks like EBY pulled a Trudeau. ”

Who predicted that was going to happen? Anyone remember? Patriotz do you recall?

Oracle
Guest
Oracle

After David Ebys comments, I see a 8K party again.

Best place on meth
Member
Best place on meth

You were making some good progress Oracle, now you’re back to your old, stupid, repetitive rhetoric again.

Oracle
Guest
Oracle

Man, pissed that guy pulled a 180. Wonder who got to him.

Time to go
Guest
Time to go

“But the outcome has to be that this kind of speculative action in the market has to end.”

He’s still looking at ways to end speculation, maybe just not the tax.

Best place on meth
Member
Best place on meth

Some of China’s richest and most powerful men have mysteriously vanished

http://www.latimes.com/la-fg-china-billionaires-vanish-20170614-story.html

BubbleTea
Guest
BubbleTea

In many cases, the disappeared have returned. In others, they have turned up in custody or were found dead.

Abdul Lahazi
Guest
Abdul Lahazi

Oracle is off her meds.

Oracle
Guest
Oracle

Praise Allah.

Bag it and tag it
Member
Bag it and tag it

More on the Anbang saga…as you know the head was arrested a couple days ago, but besides that the recent numbers for that company are a complete disaster. Nice work Trudeau for blindly (selective vision) approving the retirement home purchase. Did you think maybe, just maybe there was a reason why similar aquisitions in The States were denied? That’s what happens when you allow yourself to be ‘influenced’. You’re better than that, I thought. FYI story below is much more than being about the detainment if the chairman…worth a read.

http://www.zerohedge.com/news/2017-06-15/anbang-just-became-systemic-risk-revenue-crashes-90-its-chairman-detained

Combat roach
Guest
Combat roach

Holly shit, just look at that guy’s face. Would you trust him to sell you a used TV?

Abdul Lahazi
Guest
Abdul Lahazi

I have said this previously that Chinese companies are generally fronts for money laundering and frauds. Even if the company is considered “legitimate” there will still be fraudulent activity taking place within.

Shut It Down Already
Guest
Shut It Down Already

And each time you say it you’re not only wrong but you’re also an ignorant prick.

Oracle
Guest
Oracle

You are saying there is no money laundering?? Ha.

We don’t need liars in this country pwick.

Best place on meth
Member
Best place on meth

Trudeau is the dumbest son of a bitch ever elected PM in this country.

Fucking traitor should be under investigation.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Nothing simplified for Chinese community in sign debate

Wave of simplified Chinese signage, from real estate signs to business ads, is as controversial within Chinese community as it is outside, says longtime resident Ken Wong

http://www.richmond-news.com/news/nothing-simplified-for-chinese-community-in-sign-debate-1.20618801

Best place on meth
Member
Best place on meth

Wong said he’s concerned the new wave of immigrants are not integrating as well as the Hong Kong diaspora did.

That’s because these commie lowlifes have no interest in ever integrating, they simply want to take over Canada.

Shut It Down Already
Guest
Shut It Down Already

You must be First Nations then?

Oracle
Guest
Oracle

Jumped the gun. Eby has clarified his position.

A 1.5% annual tax is coming. Changed from 2%.

I say make it 2.5% right of the bat.

Also why not expand Foreign Buyer Tax province wide?? Use Green Party 30% rate. Include presales.

Best place on meth
Member
Best place on meth

Relax dude, they haven’t even formed government yet.

Pre-sales will be included in the FBT, property tax surcharge will be implemented, bare trusts will be eliminated to expose the money launderers identities….and much, much more.

Give the GreenDP government a chance to take their seats and let’s see what they do, all right?

Abdul Lahazi
Guest
Abdul Lahazi

Shit It Down: Disprove any of what we know about China; that they pollute nature, kill innocent FG/Christians/Tibetans for organ harvesting, eat cats and dogs after cruelly killing them, use “gutter oil” (Google that) to cook with, spit everywhere, lie, cheat, steal, are terrible rude tourists, are loud and obnoxious, in Canada don’t pay taxes, disobey our rules, break our laws, buy houses with stolen money, the list goes on and is endless.

Every time you open your mouth to post here and say someone is ignorant or whatever for pointing out the truth, just remember who and what you are defending.

Whistler or Bust?
Guest
Whistler or Bust?

Sweeping generalization but a lot of that is sadly true.

Chinese customs and business dictate the dishonesty is savvy. Many do not see cheating or lying as we do. They view it as “gaining the upper hand”. This cultural norm is a fact. It does not mean that a lot of Chinese people are not honest but it does mean that enough are not to have a lot of people agree with your post.

Whistler or Bust?
Guest
Whistler or Bust?

And ask yourself? Would you buy into a publicly listed Chinese company?

https://www.law360.com/articles/878474/puda-coal-ex-chair-should-pay-228m-for-fraud-judge-says

Abdul Lahazi
Guest
Abdul Lahazi

And let’s not forget Sino Forest?

Shut It Down Already
Guest
Shut It Down Already

You have no emerging markets ETF in your portfolio?

Shut It Down Already
Guest
Shut It Down Already

Where did I say I’m defending organ harvesting, shit for brains? I’m defending the hard-working innocent people caught in the cross-fire of your ignorant generalizations.

So take your racism, along with your strawman arguments and dumbass logic, and fuck off already.

Abdul Lahazi
Guest
Abdul Lahazi

“the hard-working innocent people” now there is a generalization if I ever heard one.
Tell them to clean up their collective act and maybe they will get some respect.

Confucius
Guest
Confucius

You do realize many people could draw a lot of negative generalizations about you because of your name. A brown skinned friend of mine had a woman shout “I hope you and your people are happy” on 911.

There’s a lot of good hard working people from China. Don’t judge an entire country because of the actions of their worst. Generalizing people by the color of their skin or the country they come from is the definition of racism. Stop the cycle of ignorance.

Abdul Lahazi
Guest
Abdul Lahazi

They don’t all have to be scum to make them all scum if you get my drift. A few bad apples can spoil the whole bunch.

Confucius
Guest
Confucius

So by that logic, when are you joining ISIS?

Best place on meth
Member
Best place on meth

A country is not a race, idiot.

Confucius
Guest
Confucius

Colour of skin doesn’t make a race either, race is an abstract. Is there a brown race?There’s actually only one race, the human race, you idiot.

Confucius
Guest
Confucius

abstract idea

Shut It Down Already
Guest
Shut It Down Already

You’re fighting a losing battle, racist.

Owen
Member
Owen

Circling back on the conversation from the last post, CMHC’s last housing market outlook ( https://www.cmhc-schl.gc.ca/odpub/esub/64363/64363_2016_B02.pdf ) shows on page 6 that housing starts have been somewhat below household formation since 2009. And those are starts, looking at completions would be much worse in recent years. What other stats are people looking at when they say that we’re over-building units?

Royce McC
Guest
Royce McC

The text itself at your link cites that in the past dozen years the number of new households formed is 158k and the net housing stock grew by 155k. I didn’t read the earlier conversation, but a 3k difference over that many years suggests to me that supply and growth are pretty dang close.

Others may have numbers from different sources and there are of course considerations on whether the places being built align with what households actually need to live in.

Oracle
Guest
Oracle

It’s temp immigrants that are not counted. An extended family related to me just got approved for a 9 year tourist visa. When sponsored for a single wedding.

Laughable.

They’re making plans for ‘the move’ now. Lol

Trudeau is just as much to blame for this mess.

best place on earth
Guest
best place on earth

yeah, but how long are they allowed to stay per visit?

Oracle
Guest
Oracle

Just need to cross into another country every 6 months. A lot easier for Chinese who can fly direct to china and immediately back.

Shut It Down Already
Guest
Shut It Down Already

And each time you’d have to state the purpose of your visit and, after a few day trips to Blaine, explain to a border agent exactly how you’re funding this indefinite holiday.

You probably think there are tens if not hundreds of thousands living like this I bet.

(And many people don’t even need a tourist visa, which is yet another reason to ignore your nonsense)

Owen
Member
Owen

If there are more immigrants, then we are under-building even more.

patriotz
Member
Hyper-mega-Bull
Member
Hyper-mega-Bull

net worth 3.6 million.
retirement ready 5/5 stars.

good for them. they made the right decisions and enjoy their golden years. sad that so many others took bad advice and missed the boat.

Just me
Guest
Just me

You are right. 100% of the population can be millionaires. There is no redistribution of wealth involved in high house prices.
You just claimed that paradise exists, and it is owning real estate.

Owen
Member
Owen

I’m glad there’s the deferal program so that multi millionaires don’t suffer the burden of property taxes like renters and young families do.

Just me
Guest
Just me

Thanks to Christy, housing is the best thing to hide and hold wealth indefinitely.

bullwhip29
Guest
bullwhip29

MACLEANS: PRAYING FOR A REAL ESTATE CRASH
The have-nots of housing are watching, mad as hell, as homeowners glory in their paper fortunes. And they’re starting to lash out.
http://www.macleans.ca/economy/praying-for-a-real-estate-crash/

Whistler or Bust?
Guest
Whistler or Bust?
That is a fantastic article. Its well worth the 5 mins to read it. I especially liked this bit: It’s a bitter pill for many. After 20 years of renting in Vancouver, actress and playwright Emelia Symington Fedy has come to the realization that she’ll never have secure housing—let alone own a home—in the city she loves. Fed up with her city’s real estate market, she’s packing up her family and moving to Halifax. “It’s heart-breaking,” she says, “but living here is not good for my mental health.” She had been renting in Vancouver’s Downtown Eastside for ten years, during which time she’d built a successful local theatre company, a strong community of friends, and had had two children with her husband who also works in the arts. She had no intention of moving, until pressure from the housing frenzy… Read more »
Abdul Lahazi
Guest
Abdul Lahazi

Quite sad really when her whole reason for being is to own a house. The other great things about life and living here mean nothing in comparison.

Ulsterman
Member

I don’t know what your personal circumstances are but if you have kids you would understand her feelings. With kids, security of a home is enormous. It’s a terrible feeling having kids and not having any sense of permanence in this city. Every few years you are uprooted and life is full of uncertainty. Lasting memories are not built in a temporary rental home. I’ve had lots of great experiences in my three rental homes, but I’d much rather have had a permanent base.

Shut It Down Already
Guest
Shut It Down Already

You can’t form memories in a rental? That’s a new one – you should be a realtor.

Oracle
Guest
Oracle

War if housing prices not brought down. Not afraid to say it because Enough of us to cause change.

bullwhip29
Guest
bullwhip29

Will there be another election? Everything you need to know about what’s going on in B.C. politics
http://news.nationalpost.com/news/canada/politics/everything-you-need-to-know-about-whats-going-on-in-british-columbia-politics

>>> it is pretty clear and not the least bit surprising that Krusty has opted to make the moves she has (and likely will continue to do so). i’m leaning 60/40 in favor of a snap election vs one in late fall/winter as i believe the greeNDP is out of cash and seemingly more vulnerable than they were a number of weeks ago.

Just me
Guest
Just me

Sam Copper with some valuable investigative journalism again. Many of the topics have been discussed on the blog, but it is great that someone organizes them in a consistent format and publishes them in a newspaper.

http://vancouversun.com/news/local-news/vancouver-real-estate-in-the-red

Just me
Guest
Just me

Quote of the day?

For Hilliard MacBeth, an Alberta-based author and wealth manager, the Bank of Canada loan risk statistics and the related growth of shadow banking in Vancouver and Toronto herald a crisis.

“These properties in Vancouver are so expensive that you need people either laundering money or loan fraud or people borrowing such large amounts of money that should never be allowed, in order to keep it going,” MacBeth said. “If everyone is reporting their incomes honestly in Vancouver, there is no way that housing prices can stay where they are.”

Oracle
Guest
Oracle

Sure. But Trudeau and Christy condoning it. They make the laws.

Just me
Guest
Just me

Sad but true. Very true.

Just me
Guest
Just me
And for all China doubters, here is a nice snippet: The other elevated risk is the potential for a shock from China’s volatile economy. China has its own shadow banking problems, the Bank of Canada says. In China, “linkages between the banking and shadow banking systems are also becoming more complex and opaque, increasing the underlying credit risk,” the Bank of Canada’s December 2016 risk report says. “The experience of the 2007-09 global financial crisis showed that financial stability can be threatened by vulnerabilities originating in the shadow banking sector.” As a result of the flood of money pouring from Mainland China into Vancouver real estate in recent years, some financial experts say they believe Canadian banks are directly exposed to shadow lending in China and the risks of so-called “ghost collateral” — meaning collateral that may not exist or… Read more »
paulb
Member

New
183
Price Change
52
Sold
176
TI:9113

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

Confucius
Guest
Confucius

https://compassioncoach.com/blog/racism-and-low-self-esteem

“People with low self-esteem have a lot of jealousy and a lot of envy.
The golden rule to self-esteem is: the road to psychological ruin begins with blame. If you start blaming, your self-esteem goes down. The road to psychological power begins with responsibility.”

Hating a country is no different than racism, it’s equally ignorant prejudice. Chinese people could be 100 percent responsible for the Vancouver bubble, but you made the decision not to buy. Take some responsibility and stop preaching hate.

Just me
Guest
Just me

So gamblers must be praised, and cautious people must be punished?
This circus has gone beyond what any responsible person is willing to accept (short of sending your intellect to the scrapyard). The problem is that government decided it was better to let the circus run.

If everyone around you goes crazy, should you just join in? Is that what responsibility means to you?

Confucius
Guest
Confucius

It’s about blame. I’m not happy with my decision not to buy years back, but I blame myself. I’m still not going to buy one of the most overpriced assets in the world.

Just me
Guest
Just me

I regret the situation. But I cannot blame myself for not being crazy.
Because this housing market amounts to that: madness, abetted and supported by the local and federal governments.

Like all things, this too shall end.

Confucius
Guest
Confucius

I hear you, it was crazy then and batshit crazy now. Unfortunately, I would be better off now if I had just bought. I take full responsibility for that. I agree the madness will end and whether or not I will be better off after the dust settles remains to be seen.

Oracle
Guest
Oracle

You got to fight for what you want. Revolutions only happen that way. Otherwise they will happily trample over your rights to a decent life.

Oracle
Guest
Oracle

Be corrupt and selfish. Get ahead.

history
Guest
history

where is Hilliard today? Vegas? Alberta? BC Okanagan? Bc West Coast? On a plane going somewhere? Uber driver to the airport?

mayboe on a tube goin’ down the Cowichan river?

do i have the right thread? im unsure of myself. Should i tube down the river with this crazy Harlot on my arm?

Best place on meth
Member
Best place on meth

“Hating a country is no different than racism”

That’s why all those people world-wide who have been trashing the USA for decades are all racists, right asshole?

And my grandparents who hated the Germans…again, nothing but racists. Correct motherfucker?

“You can’t hate a country, it makes you racist” whines the triggered little piece of shit confuckius.

Yes you can hate a country, for their collective behavior and I fucking HATE china as do most people do who aren’t brainwashed PC twats like you.

FUCK OFF!

Confucius
Guest
Confucius
I feel bad for you. Many years back, most of your posts were pretty funny. As prices have gone up higher and higher, you’ve become more obsessed about China being the cause. I remember you were buying highly leveraged inverse ETFs as well, did China make you do that too? I’m sure you lost buckets on that. I’m not at all triggered. My wife is from China and we live in an area with many people from China. They are no different than other people. Some are assholes, but most are good people. You need help if you hate all these innocent people. I don’t like what the American government does, but the people are mostly good. My parents hate Japanese people because of WW2, yeah my parents are prejudice. Most of the Japanese that fought in the war are… Read more »
Best place on meth
Member
Best place on meth

“My parents hate Japanese people because of WW2, yeah my parents are prejudice. Most of the Japanese that fought in the war are dead, so who do my parents hate, their grandkids?”

Well, you haven’t changed the minds of your racists parents, so why don’t you spend more time on that instead of making stupid accusations about people on a blog you don’t even know, huh?

Maybe even try accepting criticism of that horrible country instead of reaching for the race card every time because you can’t stand to hear anything bad about china.

Look inward first before yapping at others.

Lesson to others, look at how chinese like confuckious behave when it comes to defending the motherland.

I’m not sure ANY of them can be trusted, no matter how many generations removed, based on how they speak.

Confucius
Guest
Confucius

I’m always looking inward. I’d rather find fault in myself and correct it rather than blame others and continue making the same mistakes. I have no problems criticizing China. The government has done a lot of really bad stuff. That’s not the issue. I have an issue with prejudice comments like what you just said.

“I’m not sure ANY of them can be trusted, no matter how many generations removed, based on how they speak.”

All billion Chinese can’t be trusted? At least that comment is better than your regular nuke China comments. It really doesn’t matter how you run your life, that’s up to you. But as you suggested to me, make sure you look inward before you start yapping at others. I think you’d be a lot happier.

Oracle
Guest
Oracle

WTF?

Have a drink dude.

Shut It Down Already
Guest
Shut It Down Already

Leave him alone, you’d be angry too if you’d spent yet another Friday night alone in your $1400/month shithole hissing and spitting like a hobo on welfare day.

Shut It Down Already
Guest
Shut It Down Already

So you think Japanese is a race but Chinese isn’t? What a dummy.

Oracle
Guest
Oracle

Lol. China is the cause.

Are we still debating this? Hahaha.

Chinese money is responsible 100%. Otherwise prices be at least 60% lower.

Oracle
Guest
Oracle

Meth, I’m a minority so people can’t call me racist when I criticize Asians or HAM.

Don’t buy this BS. High Immigration and foreign money is the cause of high prices.

Shut It Down Already
Guest
Shut It Down Already

Minorities can’t be racist? You fucking moron.

Bear Vancouverite
Member
Bear Vancouverite

Oracle only plays the “I’m a minority” card when he wants to be racist. Otherwise he’s been documented several times as believing that soon Indians will be the majority of the Lower Mainland and that he’ll benefit from that.

Bag it and tag it
Member
Bag it and tag it

OK thanks for confirming the Chinese and China are the biggest racists on the planet.

patriotz
Member

“Chinese and China are the biggest racists on the planet”

They don’ t come close to the Koreans, who consider themselves to be a “pure” race as opposed to the Chinese who are of mixed origins. But for both ethnicities, the Communist-ruled parts are a lot worse than the rest.

wpDiscuz