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Friday Free-for-all! August 4th 2017

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276 Comments

It’s the end of another day at the end of another week at the beginning of another month.

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:

–NDP house measures under review
–New banking rules
–What are covered bonds?
–City vs Citizens on sunshine coast
–Rethink house wealth tax
–

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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KickThemOut

Maybe lack of housing ownership is causing too much stress here?

http://www.ctvnews.ca/health/young-people-report-persistent-and-distressing-problems-with-sex-lives-study-1.3539077

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KickThemOut

Better to maybe just homeschool your boys.

High school teacher allegedly had relationships with 2 students

http://www.cbc.ca/news/canada/toronto/mississauga-high-school-teacher-allegedly-had-relationships-with-2-students-police-1.4240280

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patriotz

Notice it’s a Catholic school (they are fully taxpayer funded in Ontario). The Catholics justify having their own school system because it’s supposed to teach kids better morals. The Catholic schools in Ottawa seem to have more than their share of this too.

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Abdul Lahazi

http://www.news1130.com/2017/08/09/ontario-securities-commission-accepts-11-million-home-capital-settlement/

So there ya go. Move along folks nothing to see here….

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Hyper-mega-Bull

Mattis to North Korea: Stop actions that could lead to ‘destruction of its people’

http://www.cnn.com/2017/08/09/politics/mattis-pentagon-north-korea/index.html

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KickThemOut

Empty threats….if they got guts, they would have done something by now. Frankly, South Korea with some help from Japanese can take care of the NK problem in about 1 weeks if they really wanted to.

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KickThemOut

Looks like UK left India 200 years too early. But I’m glad Canada welcomes such civilized people into our welcoming fold, right BPOM? Adbul? Combat? Oracle? Outstanding immigrants

India: 10-year-old pregnant rape victim
http://www.bbc.com/news/world-asia-india-40823438?SThisFB

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Abdul Lahazi

Huh?

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Best place on meth

We generally don’t accept rapists as immigrants, you stupid fucking cunt, but anwho…

http://www.scmp.com/news/china/society/article/2104476/three-men-jailed-rape-preteen-girl-northern-china

Keep the stories coming, loser.

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Just me

Baby Boomers Who Refuse to Sell Are Dominating the Housing Market

https://www.bloomberg.com/news/articles/2017-08-08/baby-boomers-who-won-t-sell-are-dominating-the-housing-market
Public policy contributes to the generational standoff. Property-tax exemptions for longtime residents keep older Americans from moving. Zoning rules make it harder to build affordable apartments attractive to senior citizens
People 55 and older own 53 percent of U.S. owner-occupied houses, the biggest share since the government started collecting data in 1900, according to real estate website Trulia. That’s up from 43 percent a decade ago. Those ages 18 to 34 possess just 11 percent. When they were that

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Doomcouver

There will be some good money to be made shovelling dead boomers out of their houses. In all seriousness though, these houses will hit the market eventually. The oldest boomer is 74 currently, and they’re going to start shuffling off this mortal coil in increasing numbers.

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KickThemOut

Life expectancy is about 82 now…so that’s another 8 years. But then again, after a decade+ wait with tripling of prices, what’s another 8 or 10 years?

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Owen

Life expectancy at 75 is about 13 years, so 88.

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Royce McC

Heh – the “turnover” in detached houses that you’re referring to will really pick up steam right around the time that a good chunk of today’s 20/30-somethings will be seeing their own kids off to university (or after the people that age will have given up on having kids in part because it’s so damn expensive).

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Oracle

They will just increase immigration Even more.

Horgan cam on media and is backtracking big time on housing.

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Doomcouver

The Chinese credit bubble doesn’t have many legs left on it. I’d imagine the immigration from China will be cut down to a trickle after all the fake wealth evaporates. When that happens is anyone’s guess, but it’s likely going to happen before all the dead boomer’s houses become available.

As for the NDP backtracking on the housing front, we’ll have to wait and see. They’re only giving goodies so far, it might be to soften people up before the forced housing crash. Promises on housing reform were what got them power so they’d be wise to deliver on at least some of their promises.

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KickThemOut

That prediction has been going on for longer than the Vancouver Housing Bubble….

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Doomcouver

Longer duration of a credit bubble doesn’t disprove the existence of the bubble.

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KickThemOut

When is a bubble stop being a bubble and become a bull market??

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Abdul Lahazi

You have that backwards.

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Dave

The Vision Vancouver guys aren’t going to let the housing market take a correction. Whatever action is taken on housing will be to the benefit of the development industry. Trust me on this.

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oncebittwiceshy

That’s an interesting comment on the market especially when we are looking at the prospect of new OSFI legislation. Vision Vancouver won’t have too much say in that matter. I was pretty sure that the legislation requiring insured mortgages to qualify at the BOC 5yr benchmark qualifying rate would have been a market killer considering the amount of leverage in the market. When CMHC mortgages dropped by 41% and all of a sudden everyone had 20% down, OSFI saw the end around their legislation and this is how they are addressing it. The fact that this new legislation targets both insured and uninsured mortgages, as well as mortgage renewals, spells the death knell for every large market out there. In my estimation, I doubt if the various markets will last longer than 6 months after the introduction of this new… Read more »

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patriotz

“The Vision Vancouver guys aren’t going to let the housing market take a correction.”

There is not a damn thing any city council can do to stop falling prices, particularly when the one in question covers only 1/4 of the metro population and very little of the vacant land. That includes stopping new development, because new development stops anyway when prices start falling.

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Whistler or Bust?

How’s the vote for “change” and for Trudeau working out for you all?

Hint: G-NDP will not be any better

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Oracle

You are unfortunately 100% correct. The RE cartel controls the Greens, NDP and Libs backrooms. The MSM only gives the sheep the illusion of choice.

We will see how the next 60 days plays out. If people REALLY want housing action, then i expect all hell to break out with protests etc.

Otherwise STFU.

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Doomcouver

I’d rather have Turdeau than Fuhrer Harper thanks.

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Best place on meth

I’d rather have an inanimate object over either of them.

Like…a sack of shit as PM.

Oh, wait….bad example.

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Abdul Lahazi

LOL look at those teeth and the glasses. What a stereotype.

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Best place on meth

At least they recognize what douchebags they’ve become.

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Abdul Lahazi

I was in Metrotown mall today and there is some type of Japanese store opening up soon. Don’t the Chineeze hate the Japanese? This should be good to watch.

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KickThemOut

Most Japanese restaurants are run by Chinese, you moron! Even the ones where servers shout in loud Japanese are often owned by Chinese. The only real ethnic Asia restaurants left are the Korean ones.

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Abdul Lahazi

It is a Japanese company and it is not a restaurant. I took the trouble to actually read their sign.

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KickThemOut

Oh, you took the trouble to check the stockholder registry as well then?

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Doomcouver

I think the older generation Chinese dislike Japanese. Young Chinese people could care less. The Japanese occupation was a long time ago now. It’s like Europeans who don’t like Germans because of WW2, there’s less and less of them around.

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paulb

New
359
Price Change
69
Sold
194
TI:9799

http://www.clivestevepaul.com

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off topic

North Korea says seriously considering plan to strike Guam: KCNA

http://www.reuters.com/article/us-northkorea-missiles-usa-idUSKBN1AO2L9

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Abdul Lahazi

I doubt they could strike it with any accuracy.

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Doomcouver

I’d be shocked if they actually strike Guam. North Korea has been nothing but bluster and propoganda. They secretly know the Americans would flatten their whole country if provoked.

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off topic

Trump warns North Korea will be met with ‘fire and fury’ if threatens U.S.

https://www.reuters.com/article/us-northkorea-missiles-china-idUSKBN1AO011

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Oracle

Well Trudeau may have something to say or do about that..

a selfie maybe??

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off topic

Trump vows to ‘win’ against opioid epidemic

“We’re also very, very tough on the southern border where much of this comes in, and we’re talking to China, where certain forms of man-made drug comes in, and it is bad.”

https://www.reuters.com/article/us-usa-trump-opioid-idUSKBN1AO18A

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Oracle

IMO, this drug was brought in not by drug dealers but by developers hoping to clear juries from the downtown eastside.

Problem is that it was too successful….

Dealers would never kill off their customers.

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Oracle

*junkies

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Shut It Down Already

One of your most ridiculous ideas so far. Well done.

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Doomcouver

Dealers aren’t intentionally killing their customers. The dealers don’t know how to cut fentanyl safely, so they’re accidentally killing people. You have to dilute fentanyl a ton to make it safe. It’s a very concentrated and potent drug in it’s pure form.

Prescribed heroin is the only logical solution to keep these people alive. The irony is with the amount of crime caused by drug addicts, it may actually save taxpayers money as well.

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bullwhip29

Premier Horgan setting sights on China as first foreign visit
https://www.biv.com/article/2017/8/premier-horgan-setting-sights-china-first-foreign-/

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Screwed

Selling of BC continues…

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KickThemOut

Btw, anyone being to Richmond Night Market? Boss is “asking” for feedback about having a mandatory company team building event at the Night Market this Friday night….

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Doomcouver

It’s overcrowded and overpriced. The entry fee has gone up every year. The food is the only good reason to go there, unless you want a cheapo cel phone case. There’s a good selection of food though it’s about 90% asian. If you like asian food it’s probably worth it, but if fried squid isn’t your cup of tea you may not enjoy it. If I personally had to choose an overpriced outdoor food market I’d have to pick the PNE. At least you can get some decent bbq there and there’s a beer garden…

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Abdul Lahazi

I would never set a foot in that place.

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KickThemOut

Not surprised considering all public places bombings in the last few years worldwide are done by your brothers in the name of Religion of Peace.

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Abdul Lahazi

Huh?

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Best place on meth

https://www.theatlantic.com/news/archive/2017/06/suspect-identified-in-bombing-of-chinese-kindergarten/530700/

Your people generally resort to mass knife attacks as they don’t know how to make a bomb.

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KickThemOut

Fire and Fury over North Korea soon? Good thing as the Symphony of Lights is close to being over.

http://www.zerohedge.com/news/2017-08-08/trump-threatens-north-korea-fire-and-fury-world-has-never-seen

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bullwhip29

Early morning gunfire rattles quiet Richmond street
http://vancouversun.com/news/local-news/early-morning-gunfire-rattles-quiet-richmond-street

>>> more cracks in the foundation of this criminal, scam ridden, gangster like society that was slapped together haphazardly without any thought of what the consequences would be. and to think the powers that be actually believed all the kids in this sandbox would play nicely with each other…

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KickThemOut

When did Oracle’s brothers move to Richmond? I thought they would be denied at Richmond checkpoints with Surrey?

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Oracle

What nation do you have allegiance to?

Canada is a post nation state so obviously its not this. Just a place to exploit….

??

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Doomcouver

Either affordability or violent nationalism will come to Canada at some point in the near future. Temporary foreign workers, and foreign speculators have crowded out an entire generation of Canadians. It’s when this new generation finds out they have no future and no way to support themselves that they will revolt. Or the house of cards known as our housing market collapses and working class people will be able to afford to live here again. We’ll see which one happens, but I feel it’s going to be a binary outcome.

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KickThemOut

Most people in Vancouver seem to support themselves just fine. But then almost everyone I know who actually has any intelligence and work ethics are all making $80K to $100K+/yr at minimum and they are considered unsuccessful at that.

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bullwhip29

No more tuition fees for adult basic education or English language learning in B.C.
http://www.cbc.ca/news/canada/british-columbia/no-more-tuition-fees-for-adult-basic-education-or-english-language-learning-in-b-c-1.4238822

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Abdul Lahazi

“in Vancouver, the city’s recent dip will simply be a blip.”

http://www.cbc.ca/news/business/real-estate-housing-toronto-vancouver-prices-1.4236245

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Shut It Down Already

Except that’s not what it says. Here’s the full sentence:

“However, Toronto home prices are still up compared to last year and some industry experts predict that, as in Vancouver, the city’s recent dip will simply be a blip.”

The key term here is “some industry experts”. Any guesses who they might be?

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Doomcouver

I’m sure the industry experts are unbiased economists. Oh wait it’s the CBC. The industry experts are definitely realtors, bankers, and/or builders that would tell you the market is great even if all the houses were literally on fire.

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KickThemOut

Trudeau working with North Korea? Maybe part of his “brilliant” plan to get some leverage in negotiation with the master himself Trump over NAFTA?

http://www.zerohedge.com/news/2017-08-08/descalation-canadian-envoy-arrives-north-korea

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bullwhip29

Chinese tourists forced to pay 10 times more for beach equipment in Okinawa
http://www.scmp.com/news/asia/east-asia/article/2105920/holiday-rip-chinese-tourists-forced-pay-10-times-more-beach

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Abdul Lahazi

People the world over are all sick and tired of the Chineeze.

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bullwhip29

it is certainly a little disconcerting that each and every tourist destination from Paris to NY to Tokyo and even remote areas like the North Pole and the Galapogos are swarming with pushy, loud Chinese people. regardless of where they go every friend, family member and associate of mine that returns from vacation says the same thing.

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KickThemOut

Right….you know people who go vacation in North Pole just for the fun of it….

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KickThemOut

So your friends and family are Chinese then?

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Shut It Down Already

Guess what? If you’d ever travelled anywhere you’d know that, unfortunately, people just about everywhere consider tourists who speak in a different language to them to be loud and annoying. I’m sure there are some who consider your friends and family to act in the exact same way. But it honestly sounds like you’ve never left Merritt.

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Doomcouver

Uh no, wrong. most parts of mainland China are basically the trailer park of China. It’s a whole landmass mostly comprised of uneducated farmers that happened to become wealthy through manufacturing and shifty land deals. We had it easy back in the 90s when just Hong Kong Chinese wanted to come here.

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Shut It Down Already

You seriously think any one country has the monopoly on serendipitous wealth?

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off topic

“Black Man Causing Trouble in Hefei” Incident Triggers Waves of Racist Remarks on Weibo

http://www.whatsonweibo.com/black-man-causing-trouble-hefei-incident-triggers-waves-racist-remarks-weibo/

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Abdul Lahazi

Living in China probably drove him crazy.

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KickThemOut

Chinese buying houses in Vancouver triggers call for nuking China on Vancouver’s housing blogs.

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Oracle

Lets not kid ourselves. Whatever ethnic group has the greatest population in the lower mainland rules the land.

I think the Chinese will rule the western portion with the Indians ruling the east.

The white people won’t know what hit them before its too late. They are the wildcard though

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Doomcouver

The Indians may be able to sustain themselves permanently, but the massive waves of Chinese are being sustained almost exclusively by offshore money. For the most part, the only local economic activity the Chinese are participating in is real estate speculation and housing construction. When that stops, and it will, they will have nothing to sustain them and they’ll likely leave, or be homeless. This is probably about 20-30 years out though.

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Bullwhip29

Wealthy San Francisco residents lose private street over tax bill
http://www.bbc.com/news/world-us-canada-40861145

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bullwhip29

$35K Massey Bridge ad campaign ‘fake news’: Richmond councillor http://bc.ctvnews.ca/35k-massey-bridge-ad-campaign-fake-news-richmond-councillor-1.3536536 >>> given that 1000’s of residents, investors, RE developers etc have shall we say a vested interest in seeing this bridge finished and massive financial windfall gains realized, Delta, which has the most to gain, is not surprisingly pulling out all the stops to get this project off the ground. i’m sure if one had the means to look into Lois Jackson’s business dealings with a fine tooth comb, one would likely find she has stacks of chips placed in a number of well situated locations and would profit handsomely if this was greenlit. maybe, just maybe she was blindsided (like so many others) with Horgan’s victory? even if the NDP move forward on plan B (twinning the tunnel), the start time would get pushed forward by possibly many years… Read more »

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