New mortgage rules to further cut demand

Southseacompany linked to this article forcasting the effect of new mortgage rules:

“In the year of implementation, we estimate that this new rule could depress demand by 5% to 10%, and shave 2% to 4% off of our current forecast for the average price level in 2018,” the authors said, as the proposed measures will act as another force that limits price growth in the future.

Those consumers, who often have as little as five per cent down, must qualify based on the posted five-year rate of the Bank of Canada, which is currently 4.84 per cent.

The economists suggest changes to tighten the rules on non-insured mortgages will lead buyers to “come up with a bigger down payment, opt for a lower priced home and scale back other debt,” and may even delay purchases all together.

Read the full article here.

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Time to go
Guest
Time to go

Not sure how much of this ends up in VanRE, but worth a watch: How China’s Wealthy Use Macau to Get Money Out of China | China Uncensored

https://www.youtube.com/watch?v=XNfDd-UcAxA

Abdul Lahazi
Guest
Abdul Lahazi

Macau: “the entire system is a corrupt sham”. Yup.

bullwhip29
Guest
bullwhip29
Abdul Lahazi
Guest
Abdul Lahazi

“who pay between $11,000 and $14,000 each year in school fees and insurance.”

This is not nearly enough. They would could and should pay double or triple that amount.

KickThemOut
Member
KickThemOut

Every time you open your sausage hole, you demonstrate just how ignorant and stupid you are when it comes to basic economic principles. No wonder bears are so far behind.

Abdul Lahazi
Guest
Abdul Lahazi

“sausage hole”, “ignorant and stupid” oh I’m so not offended… but no real argument rebuttal from you: just more insults. Personally I don’t think those cheaters should be allowed to study here at all, but since they are here, at least they should pay all of their own way plus more for our own profit.

bullwhip29
Guest
bullwhip29

space, don’t you mean “pie” hole? whoops…a little slip of the tongue there. you and your fascination with various extremities and orifices…to each his own i guess..,.,

Abdul Lahazi
Guest
Abdul Lahazi

LOL ya I thought of that as well …

Best place on meth
Member
Best place on meth

Space has his tongue in the sausage hole now?

Dammit, he was only pretending to be straight.

Shut It Down Already
Guest
Shut It Down Already

You should really consider calling the bursar and carefully explain how you know better than them.

Abdul Lahazi
Guest
Abdul Lahazi

The article is regarding high schools and high schools do not have “bursars”.

Shut It Down Already
Guest
Shut It Down Already

See? You’re clearly the expert. Enlighten them.

bullwhip29
Guest
bullwhip29
Just me
Guest
Just me

Extremely disappointed in the new NDP government about this.
Tax deferment is wrong and counterproductive. It should be scrapped.
Why, where are you hiding?

YVR
Guest
YVR

The NDP didn’t say they would remove this home owner perk as an election promise nor did they suggest removing it when in opposition. They did promise a list of other things like the 2% foreign speculators tax which they seem to have forgotten now they are elected. I think I would save my outrage for those things they actually promised and are reneging on now rather than ones they didn’t campaign on.

Best place on meth
Member
Best place on meth

Who cares, UBER is coming soon!!!!

bullwhip29
Guest
bullwhip29

i wouldnt hold my breath on this…

Just me
Guest
Just me

And where is Eby in all this?

Whistler or Bust?
Guest
Whistler or Bust?

Eby is the next leader. They won’t dare waste him on the Housing file. Its a no win. They put that woman in who’s big thing is limiting rent increases.

Wow, that’s going drive supply. I bet landlords are lining up to rent their places out.

Same old NDP. They have never run a business or made a payroll so its no surprise they are ignorant in basic economics.

Best place on meth
Member
Best place on meth

“never run a business or made a payroll “.

Neither have Krusty, De Jong or Coleman.

Career politicians, all of them.

Best place on meth
Member
Best place on meth

Eby is hard at work preparing for the first sitting of the Legislature.

Have some patience.

bullwhip29
Guest
bullwhip29

no down vote KickThemOut????

Best place on meth
Member
Best place on meth

We’re voting to kick space out?

Again?

Mick Murphy
Guest

B.C. government trying to seize Richmond mansion claiming it was used for violent crime and money laundering

http://vancouversun.com/news/local-news/b-c-government-trying-to-seize-richmond-mansion-claiming-it-was-used-for-violent-crime-and-money-laundering

bullwhip29
Guest
bullwhip29

only relevant word in headline above is “trying”… as soon as these rats play the race card, the powers that be will back down and pretend it never happened…

Harry Wang
Guest

Beijing is stirring up ‘red hot patriotism’ among Chinese students on Australian campuses

https://amp.afr.com/news/policy/education/china-follows-students-to-campus-20170828-gy650k

KickThemOut
Member
KickThemOut

Wooo…I’m quaking in my boots…Chinese nationalism! Those overweight, minion sized glasses wearing, excessive masturbation Chinese young men are seriously going to threaten us Westerners?! Really? Maybe you should go back to China and do some basic exercise like walking and standing first before coming back and trying to a hero.

Pathetic…

Well, slightly more than bears here but then most of them are real Canadians either. Just pretend to be.

Just me
Guest
Just me

You are not a westerner. That much is clear.
Stop,pretending to be one.

bullwhip29
Guest
bullwhip29

seems you never seem to miss an opportunity to talk about young men and their naughty habit of playing with their junk

Best place on meth
Member
Best place on meth

Universities are sewers nowadays, anyway.

Between the marxist though police shutting down every discussion they don’t agree with and the chinese spies stealing anything they can get their hands on, there is little of value left on western campuses.

Kids, go to trade school okay?

Shut It Down Already
Guest
Shut It Down Already

It worked out so well for you…

Best place on meth
Member
Best place on meth

Die, marxist scum.

Shut It Down Already
Guest
Shut It Down Already

When somebody implies that you have a substandard education the most appropriate response is surely to call them names.

oncebittwiceshy
Guest
oncebittwiceshy
The “bulls” out there will pooh pooh this new legislation because nothing happened the last time OSFI introduced legislation forcing buyers of CMHC insured mortgages to qualify at the BOC rate. New buyers couldn’t have qualified at that rate and all of a sudden conventional mortgages grew by 41% as all of these new buyers suddenly came up with 20% down. The problem is OSFI saw that the bank of mom/dad, subprime lenders and banks worked to do an end run on the legislation. This legislation is the fix that will undoubtedly crash all of the major markets in Canada. Remember, OSFI doesn’t give two hoots about the average homeowner. Their mandate is to ensure the integrity of the financial system (banks). This legislation will pass without change because if they don’t do anything and these “fraudulent” uninsured mortgages continue… Read more »
KickThemOut
Member
KickThemOut

We let them in, put them through medical school at taxpayer expenses and in place of a Canadian, and this is how they repay us….

https://www.thestar.com/news/crime/2017/08/30/toronto-neurosurgeon-accused-of-murdering-wife-denied-bail.html

We need to take up Oracle & BPOM’s torch and kick these scums out!

Best place on meth
Member
Best place on meth

You’re assuming he’s in immigrant, dumbass?

Shut It Down Already
Guest
Shut It Down Already

… says the dumbass who makes assumptions about nationality of home buyers based on names of realtors.

Best place on meth
Member
Best place on meth

Die, marxist scum.

Shut It Down Already
Guest
Shut It Down Already

… says the dumbass who thinks he’s entitled to own a house despite his economic inability to do so.

KickThemOut
Member
KickThemOut

You can make someone a Canadian citizen, but you can never take away their true believes…locust must not be let into Canada, a country that shed blood to fight evil. Almost all real true Canadian patriot have family members who fought in WW2. This is an insult to them that we are letting in people who believes Hitler had right motives.

http://www.zerohedge.com/news/2017-08-30/global-outrage-after-japan-finance-minister-said-hitler-had-right-motives

Owen
Member
Owen

I don’t think many Japanese people are moving to Canada.

KickThemOut
Member
KickThemOut
KickThemOut
Member
KickThemOut

Because the tightening measured worked so well before that this one is going to be a success? Notice the part about bigger down payment? Guess what that means? More buffer in case of decline. Qualify at higher interest rate? Means better debt servicing capability and more likely people will be doing mortgage prepayment using the higher interest rate. Again, better buffer against interest rate increases assuming they would actually increase.

oncebittwiceshy
Guest
oncebittwiceshy

You did understand the part about people end running the previous higher qualification legislation because they couldn’t qualify at the higher rate, right? Mommy and daddy or a subprime lender gave/lent them 20% down payments so they could get mortgages at 2.49%. “Get into the market or lose out”.

What this effectively means is that all of those people will not be able to qualify for those big mortgages because regardless of the down payment they will be qualifying at the higher rate. There won’t be a buffer because Junior isn’t getting that mortgage.

bullwhip29
Guest
bullwhip29

Surrey resident sentenced for tax evasion on real estate sales and rentals
https://www.canada.ca/en/revenue-agency/news/newsroom/criminal-investigations-actions-charges-convictions/surrey-resident-sentenced-tax-evasion-real-estate-sales-rentals.html

>>> just wondering if they have ever sentenced a single person from Richmond or Vancouver for that matter.

Combat roach
Guest
Combat roach

How do vermin deal with the restriction of money leaving China? Creates the fake money, business as usual…

http://www.ctvnews.ca/canada/counterfeit-alert-chinese-writing-a-dead-giveaway-on-fake-bills-1.3568439

Abdul Lahazi
Guest
Abdul Lahazi

What does that Chinese writing say?

Best place on meth
Member
Best place on meth

Regar tender.

bullwhip29
Guest
bullwhip29

17-year old Richmond resident runs over woman with his Mercedes while she was in a marked crosswalk
http://www.richmond-news.com/news/pedestrian-seriously-injured-in-car-accident-1.22256130

Combat roach
Guest
Combat roach
paulb
Member

New
114
Price Change
42
Sold
138
TI:9575

http://www.clivestevepaul.com

Yikes
Guest
Yikes
Whistler or Bust?
Guest
Whistler or Bust?

Hopefully for 1 day for each Shark

Best place on meth
Member
Best place on meth

Plus 2 sinomen finned and dumped in the ocean for each shark taken.

Sharks are worth far more.

Best place on meth
Member
Best place on meth

“Speaking in Beijing, Chinese Foreign Ministry spokeswoman Hua Chunying said on Tuesday China opposed any form of illegal fishing, and was paying great attention to the case.

However, she said there was no evidence the ship was fishing in Ecuadorian waters but that the ship had transited through the Galapagos protected zone without permission as it did not understand Ecuadorian rules.”

Same old locusts, they get caught and play dumb.

Abdul Lahazi
Guest
Abdul Lahazi

no speak engrish.

off topic
Guest
off topic

Sickening moment Chinese man stabs and slits a kangaroo’s throat 18 TIMES in Australian bush – as his laughing friend films the cowardly attack

http://www.dailymail.co.uk/news/article-4835322/Chinese-man-stabs-slits-kangaroo-s-throat-18-TIMES.html?ito=social-facebook_Australia

Best place on meth
Member
Best place on meth

I’d love to see an Australian do that to a panda.

best place on earth
Guest
best place on earth

then you are just as horrible as they are!

Combat roach
Guest
Combat roach

Wow! Not only being super-smart you are incredibly Insightful. Pure genius.

Best place on meth
Member
Best place on meth

They are horrible, aren’t they?

Worst culture ever, worse than ISIS.

Combat roach
Guest
Combat roach

And craziness continues…

“Their new 1,700-square-foot-plus townhome has four bedrooms and three bathrooms, and cost nearly $500,000.”

https://www.straight.com/news/957096/home-search-burnaby-tech-worker-goes-space-outer-suburb

YVR
Guest
YVR

From the buyer:

He added that he’s no longer worried about getting priced out of the market.

bullwhip29
Guest
bullwhip29

in Rmd this would be 3X the price, in Vanc 4X or more depending on location. now steve and his wife can live the dream as they giggle about their pantry and the countless hours they will spend driving to costco and walmart to fill it with stuff they will never use more than once

Abdul Lahazi
Guest
Abdul Lahazi

This article reads like a real estate industry pump piece.

best place on earth
Guest
best place on earth

yep, it’s plain and simple. but the genius bears have failed to understand it. just a friendly reminder, rent is due tomorrow.

Abdul Lahazi
Guest
Abdul Lahazi

The mortgage payment is due today.

Best place on meth
Member
Best place on meth

Again a friendly reminder to you, rent cheques are for fucking amateurs.

bullwhip29
Guest
bullwhip29

The biggest strata industrial project in Richmond is about to break ground on Mitchell Island
https://www.biv.com/article/2017/8/richmonds-biggest-industrial-strata-project-fires/

>>> i wonder if this is slated to become something like the wholesale “cash for jobs” mall Vstar setup in Saskatchewan?

Oracle
Guest
Oracle

Hearing through sources that no details about housing in the throne speech. Just blah blah. Lag about housing affordability and how theyngoing to build 114,000 units.

They will add a line that rising mortgage rates and fragile economic conditions appear on the horizon.

Now what is worse:

Trudeau and PR or Eby and Housing?

best place on earth
Guest
best place on earth

the writing was on the wall even before the election: never trust the no-deal-party.

Oracle
Guest
Oracle

Why downvote this?

I will repost the same words in 31 days on October 1st. Maybe then you will accept the deception. And you really think they are going to pull a 180 in a few weeks when the fact is that they have been in power all summer?

Abdul Lahazi
Guest
Abdul Lahazi

The legislature has not even sat once yet so let’s wait and see what happens later in the year.

Oracle
Guest
Oracle

LOL

Inventory is soon to have a 8K party and you say wait?

Condo prices are approaching $900 K in Vancity and you say wait?

WTF are you on? You not see nothing is being done???

Best place on meth
Member
Best place on meth

Oracle is back into pumper mode after a brief stint pretending to care about average people.

The Surrey particle board shack market must have cooled off even more.

Owen
Member
Owen
Shut It Down Already
Guest
Shut It Down Already

You didn’t notice the bit where a guy who works as a mortgage broker cashed in his RRSP so that he could start on a path to owning 10 rental properties and use that as his pension? Just another local going all-in….

Abdul Lahazi
Guest
Abdul Lahazi

He’s just following after all the real estate agents who have drunk the same kool-aid. And he will really like managing rental properties and tenants in his 60s and 70s.

Owen
Member
Owen

He’s not a strong believer in diversification, that’s for sure. But then again, it’d be pretty scary to have 5:1 leverage in the stock market, right?

Abdul Lahazi
Guest
Abdul Lahazi
KickThemOut
Member
KickThemOut
Best place on meth
Member
Best place on meth

T-shirts made by robots?

How is that different from t-shirts made by chinese?

Combat roach
Guest
Combat roach

Overall quality and hygiene.

bestplaceonearth
Guest
bestplaceonearth

in case you didn’t know, you and your family have been eating lot of shit from china. take a look around your kitchen. still having your pride?

Best place on meth
Member
Best place on meth

Everything from china is shit, but can you elaborate on the stuff from the kitchen?

paulb
Member

New
103
Price Change
29
Sold
111
TI:9462

http://www.clivestevepaul.com

Oracle
Guest
Oracle

wow.

inventory dropping rapidly.

Best place on meth
Member
Best place on meth

Wow.

Oracle’s full of shit again.

Oracle
Guest
Oracle

Dude. It was close to 10K two weeks ago. And it’s dropping.

It’s a fact whether you like it or not. I don’t like it.

Your efforts should go to toppling liars like Eby.

Oracle
Guest
Oracle

Looks like the NDP and Eby pulled a huge coup on the renters.

Condo prices are risen $100,000 since they been in power. I’m at awe at people still defending them.

Lets see what excuse you defenders use once October rolls around in 30 days.

Best place on meth
Member
Best place on meth

Looks like Oracle’s full of shit again.

bestplaceonearth
Guest
bestplaceonearth

oh boy…and stupid bears thought they could receive free handouts from the no-deal-party. they are in for a rude awakening! so screwed…

Best place on meth
Member
Best place on meth

What free handouts?

I’m hoping to put and end to the free handouts to homeowners, especially speculators, geezers and communist shynamen.

Oracle
Guest
Oracle

Well at least I realize I was lied to.

Confucius
Guest
Confucius

He does claim to be brown…..

Oracle
Guest
Oracle

How? It’s fucking September. Election was in May.

Give your head a shake. Winter is coming and you will keep defending the liars?

The least they could have done is increase the tax to 20% and made it Province wide. But nope. They are cancelling it.

DaMann
Member
DaMann
The fact that the NDP didn’t cancel the absolutely ridiculous down payment program brought in by the Liberals tells me all I need to know. There is nothing to “review” about that program. It was a blatant gift to RE industry and to offset her smoke and mirrors foreign buyers tax. That was the first thing the NDP should have done, axe that idiotic program. They didn’t. They have no intention of doing anything to prick the bubble. They will just bang on about building more rentals and giving rental rebates. They have no interest in lowering RE prices. I was fooled into voting for them solely on that promise. I don’t give a toss about tolls, ferries or ICBC ( which is all they talk about). I wanted someone to do something about RE prices. More fool me. I… Read more »
woo
Guest

Should Chinatowns Stay Chinese?

http://www.pewtrusts.org/en/research-and-analysis/blogs/stateline/2017/08/29/should-chinatowns-stay-chinese

does any other group get this kind of special treatment?

Best place on meth
Member
Best place on meth

These little enclaves were charming for a while, but there is no need for them anymore.

Robson St and its German heritage passed on, and nobody seems to care.

Anyway, they’re racist. RIGHT?

YVR
Guest
YVR

“does any other group get this kind of special treatment?”

Of course. The British properties have been carefully preserved with their British heritage.

bullwhip29
Guest
bullwhip29

lol…how many Brits actually live up there now?

Shut It Down Already
Guest
Shut It Down Already

“does any other group get this kind of special treatment?”

Yes.

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