It’s the end of another beautiful week. Take a moment to kick back on your yacht and argue about real estate.
It’s Friday Free-for-all time!
Here are a few recent links to kick off the chat for this weekend:
–Global bond sell-off
–69% chance of july rate hike
–CAD$ jumps to 4 month high
–We used to be savers
–Vacancy tax looms
–Condo prices up or down?
–
So what are you seeing out there? Post your news links, thoughts and anecdotes and have an excellent weekend!
[…] –Condo flipping accelerating –Rate hike looms with record debt –Cracks in Green / NDP alliance? –Everybody worried about house prices – […]
[…] southseacompany posted this link claiming we’ve now reached double the number of vacant homes the US had before their housing bubble burst: […]
@BPOM – indeed, you are so right. Sex human trafficking or sex slavery are definitely part of our “culture” as evidenced below.
80 arrested, 274 charges laid in massive Ontario-wide child porn bust.
http://globalnews.ca/news/2667299/arrests-made-in-ontario-wide-internet-child-porn-probe/
“Steve Saretsky on BNN Vancouver Condo Flipping Accelerating”, BNN
“Mortgage rate hike looms as Canadians continue to deal with near-record debt”, Financial Post
“Fears of rising mortgage rates are about to become reality, and some financial institutions have already quietly raised their discretionary rates in the past week, a potentially harsh reality for Canadian consumers grappling with near-record debt.”
“CANADA US
Canada Has Twice As Many Vacant Homes As The US Did Before The Crash”, Better Dwelling
https://betterdwelling.com/canada-has-twice-as-many-vacant-homes-as-the-us-did-before-the-crash/
“Home vacancies are often a sign of overbuilding, and speculation. At the height of the US housing crisis in 2008, a massive 2.9% of all homes were sitting vacant. This made it hard for home prices to retain their value during the downturn, since the vacant units began flooding the market on the way down. But that was the US, and this is Canada – we don’t have that number of units sitting vacant, right? Actually, Canada has more than twice that number.”
“Vancouver defies expectations as overseas housing markets cool”, News 1130
http://www.news1130.com/2017/07/04/vancouver-defies-expectations-overseas-housing-markets-cool/
“Wong — who is a contributing editor for Better Dwelling – says Vancouver is “the one place that’s bucking the trend, where locals are still convinced that Mainland buyers are somehow buying — but not showing up in any significant statistics. Good luck with that Vancouver!””
This Saretsky guy is drinking his own kool-aid. It is only Christy’s free mortgage money that’s causing the condo market to bubble.
Saretsky has mentioned a few times that the Christy Clark loans have put condo prices on fire.
Pope, I invite you to reconsider the heavy censoring you have decided to adopt. MKing observations about politicians and their lifestyles (with no pejoratives or obscenities) should be allowed.
I would appreciate if you could restate my posts, or at least clarify why they were censored. I cannot comprehend it.
This blog has been lost to the whiny, politically correct race-baiting traitors.
Don’t bother appealing to this “pope” fellow.
He/she is long gone.
Sounds like you know what you are talking about…guess it takes one to know one, eh?
So what positive contribution have you made? To society, or just to your selfish goals? hahahah…none!
Ever noticed that all the bears who quietly slinked off and bought something are now vastly happier and don’t feel the need to come here and spout vulgar language so they feel important and tough?
Does that mean you’re leaving too?
Outstanding.
Just to clarify, there is no extra heavy censoring happening. The only addition to the filter in the last few years is the word ‘chinaman’. Not sure why your post got held up, but we assume it’s because it mentioned luxury items and that triggered the spam filter. It’s a imprecise science, but its preferable to nonstop spam.
Richmond man who fought Mandarin-only meetings moves away
http://vancouversun.com/news/local-news/richmond-man-who-fought-mandarin-only-meetings-moves-away
do you feel better now, since youve moved away?
Motherfuckers exactly know how it works when they keep up with their shit about racism, lies and fake political correctness, facking nasty demagogues. Needless to say, there are plenty of those lowlifes here at VCI…
“With all of the discrimination that was happening (it) ruined my good name in Richmond. There was accusations of me being a liar, a crook and a racist.”
How to be a Combat Troll:
1. Use racial slurs ad nauseum
2. Bleat when anybody correctly labels you as a racist
3. Repeat
As expected, here comes the usual shitbag with all of his moronic predictability. Stunningly impressive, it took you less than a hour to bark.
4. Contribute nothing.
Those accusations came from Garth Turner, Mayor Qu, Bob Rennie, Krusty, a bunch of scumbags from the newsrags, PM Justin Beiber, and a variety of other dirtbags who should go on trial for treason.
A terrible situation for him. It’s too bad Canada has deteriorated to this level.
Maybe you should move back to where you are from. I heard there are camps you can attend on how to achieve going to heaven with 72 virgins waiting for you.
The man fighting against racism being accused of racism, this is what our country has become and why exploiters from china are raping our nation at will with the help of our politicians.
It’s very likely the lowlifes accusing this good man of racism are white, after all we’ve seen this shit from our elected representatives at all levels as well as the worthless media shills.
Happy 150, my ass.
Kargut said Liberal MLA Linda Reid had helped Kargut in his battle when he reached out to her, but said local politicians did not help him.
The Chak Au and the NDP were nowhere to be seen. I guess he was too racist for them.
Richmond is a BC Liberal stronghold.
Credit to Reid for taking the high road, despite the fact her party is selling the province to China.
“Richmond is a BC Liberal stronghold.”
All the more reason for the NDP to speak out being the official opposition party. Their silence speaks volumes.
Sorry, but you are in denial. I don’t care about left or right. But facts say that your BC Libs have sold the province.
like i’ve been saying for years, learn mandarin. your future depends on it. it’s not too late to start.
Cracks already forming in the GreeNDP alliance. Anyone think they make it to the end of summer? My bet is the Greens and Liberals end up in a new alliance within 3 months.
BC NDP to keep taking donations while Greens call for immediate ban
My bet is you are going to be disappointed.
But then again, people who keep voting Christy Clark in office are used to that, I guess….
The only people who can vote Christy Clark are in Kelowna and she did win as MLA there. For those that voted Liberal they won 5 elections in a row. Compared to the NDP coming in second 5 elections in a row who is used to losing? I guess when you lose 5 in a row a close second seems like a win.
Classic partisan hack. You’re as mindless as they come.
There is no way that anyone with an ounce of intelligence can hate a political party within a democratic system that hasn’t held power in 16 years.
You’re actually as dumb as those sub-humans who hate people from another country for what their ancestors did somewhere between 70 to infinity years ago.
I’m not going to identify those people as it will greatly upset the moderator of this heavily censored blog.
That must be why Israel are still hunting 90s+ year men all the over world for being a guard at some camp. They just can’t let go.
I guess also why you are pounding the keyboards like crazy everyday.
You’re like the rabid American leftists constantly predicting the imminent impeachment of Trump.
Those who are hopelessly partisan have no sense of reality.
“You’re like the rabid American leftists”
You need to study up on the NDP. They are left which makes you the leftist. Maybe not American but rabid for sure.
Left or right does not matter. You are making missing the point. Look at what people do, not what they say. Christy Clark has auctioned your Province off.
And NDP paid good $$$ to give our province to their union buddies. At least Libs got something, even if it is a pittance, for selling our province.
BPOM is simply too dumb to even realize that he’s dumb. The guy can’t even tell his left from his right, what more can you expect from him?
” My bet is the Greens and Liberals end up in a new alliance within 3 months.”
Christy is a dead woman walking, and about the only person who hasn’t figured this out (beside you) is Christy herself.
I don’t think it’s impossible that the Greens might align with the Liberals at some future point after the latter have gone through some rebranding, but Weaver is not going to put his neck on the line to save Christy’s.
So what is Joe Rogan’s (John Horgan to me) plan for education. Lots of relatives are praying for early retirement with full pension.
Would you rather have Christy Clark back? Fir real?
relatives are compromised by pensions, the Canadian version of Shut Up money. Ask any retired or near retired teacher from Ontario. They are totally muted as real agents of change.
Upper, middle and low-income Canadians worried about housing prices: poll
http://www.cbc.ca/news/business/housing-income-poll-1.4188578
This shows you there’s a real cognitive dissonance among many Canadians. They realize that housing prices are completely unaffordable, yet despite that fact we still have one of the highest ownership rates in the world. Many people are basically holding their nose and entering the cult of ownership despite getting totally ripped off on pricing.
More people should be standing on principle, and boycotting these ridiculous prices. The herd mentality on housing is very strong in this country though, much to our detriment.
I, only as an average “Joe”, like most of us are, really believe in keep it simple. It has worked really well in the long run. e.g.: If it costs too much, don’t buy. Let your money work like water, find another route for it. And, use your right to vote. It is the many rain drops that makes the river. But greed and short term thinking has worked against the nation, and I it has come at a high price, I have a strong gut feeling the “big one” is getting nearer. “More people should be standing on principle, and boycotting these ridiculous prices.” Of course they should, but like you said, herd mentality, just like group pressure in the schools. Some people did not grow, they stunted. Home owners that have enjoyed unprecedented gains in house prices in… Read more »
stay away from personal household debt cantagion, i agree.
but it doesnt stop me from parking my van in front of these places at night, annd make love to a beautiful woman.
Ah. So that’s you parked on commercial drive with your dirty cacks drying in the window?
Water finds the lowest point so has money that hasn’t been invested in real estate. You are so wise.
water is a poor metaphor for money, and you havent factored Pluto in Capricorn, (Explosive Finances). The thing is, it goes both ways, especially see it once Pluto moves past 20°Cap
They will, just as soon as they anticipate prices to be lower a year from now.
I don’t think it’s quite as irrational as you make it out to be. If I go to an online Rent vs. Buy calculator, it’s pretty easy to come up with reasonable numbers that make buying look good. You have to believe that prices won’t crash, or at least not for long, but you don’t have to assume that a condo is a great investment. One caveat, I assumed buying a $400k condo in Coquitlam vs. $1500/month rent… I’m sure it gets worse for townhouses or just moving into city of Vancouver. The one calculator I tried assumes 4%/year gains in real estate, which I would agree is (hopefully) unrealistic. But what about the political aspect? The Feds could loosen up on insured mortgages, NIMBYs could strike back at city hall; I’m not sure you can guarantee that real estate… Read more »
House on the West side, personal driver and trainer, private school tuitions, expensive clothes and shoes. Someone should ask our former premier: how was that possible on a single MLA salary?
Moderation is not working on this site. Perfectly legit posts are being held up for no reason. Pope, could you illustrate the reasoning?
you can only post information about the crash and bubble. otherwise, opposite opinion will be deleted.
I have tried repeatedly to post something about our former premier. Nothing offensive and pretty factual.
Why would that be edited out? It is certainly relevant for the housing debate.
Plus, if I may, who are you to decide?
“Plus, if I may, who are you to decide?”
His site. That’s who. Wow. Entitled much?
I did not realize that bestplaceonearth owned this blog.
Thanks for setting me straight!
Expensive homes on the west side, personal drivers and trainers, European clothes and shoes, private school for the offspring. On a single MLA salary? How will she pay for her lifestyle now that “gifts” from developers will start to dry up?
Expensive homes on the west side, personal drivers and trainers, European clothes and shoes, private school for the offspring. On a single MLA salary? How Will Krusty pay for her lifestyle now that “gifts” from developers will start to dry up?
Expensive homes on the west side, personal drivers and trainers, European clothes and shoes, private school for the offspring. On a single MLA salary? How does Christy Clark pay for her lifestyle now that “gifts” from developers will start to dry up?
Even comments without links are being held for moderation now? Pope?
Wanting Qu’s mother, a former Chinese official, is accused of embezzling US$52m in a case which has gone silent since her trial was adjourned almost a year ago
http://www.scmp.com/news/world/united-states-canada/article/2100897/wanting-qu-pop-star-girlfriend-vancouvers-mayor
>>> and we all wonder why mayor moonbeam has been largely invisible in the last year as he has presumably been consumed with other matters including what is likely a backroom deal to secure the release of his girlfriend’s mother instead of focusing on the building chaos on so many fronts right here at home. perhaps given how bizarre this whole soap opera has turned out to be, wanting qu will turn out to be homegrown foreign spy too…
Not looking good for Qu. Greggor may have to work for another term.
According to the Law Yearbook of China, criminal trials in China have a 99.9 per cent conviction rate.
MACLEANS: B.C. gets a new premier
http://www.macleans.ca/politics/b-c-gets-a-new-premier-the-system-worked/
“Soon after, Clark held a press conference, claimed she wouldn’t advise Guichon on what to do…”
“Clark visited the Lieutenant Governor and promptly broke her word, asking for a dissolution of the legislature and an election after promising she’d do no such thing.”
>>> a liar right until the remaining seconds ticked off the clock…
karma
Why many people keep voting for this corrupt, lying individual is beyond comprehension.
Only the basest self interest can explain it.
She is, by any metric, the definition of a bent and crooked politician, making herself rich at the expense of others.
Who is going to give her the cash for her west side living now?
Private schools, Kerrisdale homes, expensive clothes and shoes, private drivers and trainers. On a MLA salary? How us she going to pull it off?
People wake up. She is corrupt to the core.
She’s such a two-faced witch, I can’t stand her. The liberals deserved to lose all their seats in the legislature last election. They’ve almost completely destroyed our province for the next generation. All they were capable of was pumping money to all their developer friends, and opening the flood gates to moneyed foreigners. Once the housing construction jobs inevitably evaporate and the Chinese lose interest, BC will be left an economic wasteland. Good riddance to Christy and her socred cronies.
She was just ringing the bell for the QE bankers. Her job is done, the trickle has made its way down to my level.
But now, where do i invest my house reno wages? i live in my van for Christ sake. For shiets and giggles i park in front of debt pigger houses, whose greed speculations afford me the opportunity to shag buck naked women in the back of my van, less than 10 meters to the front door.. whats left? Should i tune into CBC for the latest propoganda?
She took bribes. Plain and simple. You can’t afford her lifestyle on her salary.
the truth is that i can afford a great deal, but refuse the debt burden.
In the meantime shag a woman in front of your nemesis, it’s much cheaper than you think
“Canada hit 2 critical warning signs for a financial crisis”, Business Insider
http://www.businessinsider.com/canada-financial-crisis-warning-signs-2017-6
“The Bank for International Settlements (BIS), an international banking organization that serves as a bank for central banks, is flashing warning indicators for Canada.”
“The warning signs mean that debt has reached critical levels, and will likely result in a financial crisis.”
How come Canada keeps getting lumped in with Hong Kong and china when it comes to extreme debt levels and real estate addiction?
Oh…..right….
two wongs do not make a wright.
Because Canadians don’t seem to care when they’re getting bent over a metaphorical barrel. It’s why when the dollar was at parity we kept paying higher prices at retail, and it’s why financially overstretched morons put all their money into overpriced real estate.
The Chinese are just doing it because of all the suppressed housing lust they’ve built up before owning housing was allowed. Canadians however should know better.
Funny how the Bank of England (Carney) is willing to say things that the Bank of Canada (Poloz) does not dare to. I am not a big fan of Carney, but between him and Poloz I know who I would pick.
China is like a big branch hanging on a house. Everyone knows the damage would be massive if it hit. But nobody dares to disturb it, lest they are blamed for the end result.
“Poloz says China tops list of global economic concerns”
Where’s the bit about housing?
And the best part of this Canada day is that we finally celebrate without Christy Clark being the premier..
Question: will developers and other lobbists keep the cash flow going even now she lost power? I am sure she had a steady flow under the table, she is that kind of person. How is she going to pay for her expensive lifestyle now?
your socialist party wont last long. all the freeloaders should put in demand now. next election is just around the corner.
Happy Canada Day 150, everyone!
Except for you, uhmm…Albertans.