Friday Free-for-all! November 10th 2017

Its 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:

– can’t afford to work in Vancouver? 

Fed rate rises?

everything is fine

avert the next crisis

So what are you seeing out there?

Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend! 

247 Comments on "Friday Free-for-all! November 10th 2017"

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bullwhip29
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bullwhip29

China to ease ownership limits on foreign joint ventures in finance sector
http://www.scmp.com/business/banking-finance/article/2119300/china-ease-ownership-limits-foreign-joint-ventures-finance

>>> LOL…now what is the term “bagholder” in chinese???

history
Guest
history
Abdul Lahazi
Guest
Abdul Lahazi

Why anybody would buy stuff like that or anything else from that fraud of a country is beyond me.

bullwhip29
Guest
bullwhip29

just like we saw with subprime, these “investments” will be tucked into places we don’t normally look (or are completely inappropriate) and I betcha many will wind up wearing these without ever having knowing they owned it in the first place.

Doomcouver
Guest
Doomcouver

Yes, please buy our not sketchy at all financial assets. We’re done extracting all the wealth from the credit bubble and want to spread the coming pain to foreigners.

Combat roach
Guest
Combat roach

Besides going through locustation process as a country, we already buy lots of their assets…

https://upload.wikimedia.org/wikipedia/commons/6/64/Drugroutemap.gif

realist
Member
realist

I believe that the translation for “bagholder” in Mandarin is Laowai 老外, whereas in Cantonese it is Gweilo 鬼佬 – or rather, that is the intended, future translation.

southseacompany
Member
southseacompany

“Vancouver Studio Condo Prices Growing Faster Than Any Other Segment”, Better Dwelling

http://vancitycondoguide.com/vancouver-studio-prices-growing/

“The squeeze to enter the Vancouver Real Estate market has reached a pinnacle. Condo sales are booming and prices are hitting higher highs every month. A mentality of ‘get in at all costs’ has allowed Canadians to accumulate private debt faster than any other advanced economy.”

“This euphoric rush has pushed entry level condos skyrocketing. As you’ll see below, the fastest price acceleration is occurring in studio condo units. Studio condos have increased 24% so far in 2017, faster than any other segment.”

Doomcouver
Guest
Doomcouver
“Euphoric” is an apt word to use because it’s often used to describe the mid-stage of asset bubbles. We’re somewhere between stage 3 – euphoria, and stage 4- profit taking. It’s almost like the high end of the market is in stage 4 (that’s why detached in many markets is rotting on the vine right now), and the bottom of the market is still in stage 3. Stage 5 as many of you know is panic, we will know we’re there when motivated sellers in the luxury segment use deep discounts on their asking price to make these properties sell. Interest rates will ultimately determine the desperation of these sellers. Carrying costs from an interest rate perspective are still low, so there may be a lot of sideways movement in prices for a while. The Fed is likely going to… Read more »
Lost...but not leased
Guest
Lost...but not leased

Studio Condos aka BACHELOR Suites…
Envision the low end of consumer choice/preference, where your only privacy is the bathroom.

Obviously people are priced out of 1 bedroom, 2 bedroom etc. so they are taking the least desirable units. Seems like the market is hell bent on pricing every strata unit around $1000, per sq.ft. which would then pump up other strata units to new benchmarks

Now what ….developers focus pre -sales on these shoeboxes?

When SHTF, these will be the toughest to sell.

Doomcouver
Guest
Doomcouver

I’ll buy one for storage. $500 cash, final offer.

Yikes
Guest
Yikes

Studio n 1 beds at least you can almost rent out and the income will carry, 2 bedrooms not even close, so if studios re going bananas expect them to go bananas on the way down too , cause rents ain’t going higher sorry Orasscole

Shut It Down Already
Guest
Shut It Down Already

Blame foreigners, though.

Lost...but not leased
Guest
Lost...but not leased

Rike Glegol Loberston ?

Pass the Flee Sart in case of Snow…flee fentanyl for evelybody

StupidityCheck
Guest
StupidityCheck

Why are locals panic-buying tiny condos? Because they’ve been priced out of SFHs because of…??

Confucius
Guest
Confucius

Perfect for parking the Lambo

bullwhip29
Guest
bullwhip29

Dodging Canadian Foreign Buyer Taxes: A Guide To Exploiting Loopholes For Fun And Profit
https://betterdwelling.com/dodging-canadian-foreign-buyer-taxes-guide-exploiting-loopholes-fun-profit/#_

KickThemOut
Member
KickThemOut

Must warm the hearts of all bears that Oracle / Best place on meth finally stepped up and started organizing.

White Power coming to Burnaby
http://vancouversun.com/news/local-news/racist-flyers-found-in-burnaby

Oracle
Guest
Oracle

Are you for real?

On another note, another week has just passed. Congrats. You’ve paid more in income taxes than an IIP family who enjoyed a leisurely week in Vancouver. Free schools, rec centres, roads, health, and they barely paid for it. Suckers.

Lost...but not leased
Guest
Lost...but not leased

Advice:

Don’t be played for a sucker…this may simply be what is referred to as “controlled opposition” run by the Gov’t and its thugs.

Remember G 20 summit in Toronto a few years back ?

Legit (aka peaceful )protestors got sucker punched by parties that were later identified as cops in disguise who started violent acts…..the cops were too stupid to wear non police issue boots which gave them away. Evidence also suggest same for Vancouver Stanley Cup riots…the crowd was baited by gov’t agents.

Nothing our Govt retards would love more then some manufactured boogeyman to deflect attention from their inept and corrupt running of the country..

Best place on meth
Member
Best place on meth

The poster says White Pride, not White Power you fucking imbecile.

The media is just as stupid as you are, calling it a White Supremacist poster.

Fucking retards everywhere these days.

Abdul Lahazi
Guest
Abdul Lahazi

Housing bears are white supremists now are they? You have a bent mind.

Oracle
Guest
Oracle

Trudeau just signed the TPP.

Good luck with your wages ever going up and foreign companies will be allowed to bring their own workers here.

Can’t believe how a country can be ruined in 2 decades and its citizens stood on the sidelines.

However, your so called leaders made out like bandits.

Oracle
Guest
Oracle

In the agreement, the countries have agreed to harmonize wages, hours worked, and ban child labour. So Canada will become on par with China, Malaysia, Phillipines with respect to standard of living. Wtf?

Throw that poppy off. Your forefathers fought for nothing.

Lost...but not leased
Guest
Lost...but not leased

Yep…100% correct…if one does the research ” ALL WARS ARE BANKERS WARS “..nothing was achieved except knocking off competiton, cultures, sovereignty, self determination and directing all nations into’ ” One World Government” oligarchical shithole we see unfolding now.

Abdul Lahazi
Guest
Abdul Lahazi

Philippines is not part of this agreement. Your misinformation and scaremongering is astounding.

Oracle
Guest
Oracle

Then keep complaining for the coming years. And i missed a comma in my last comment; point that out sheesh.

Best place on meth
Member
Best place on meth

Yeah, your missing comma is equivalent to completely misrepresenting a multi-lateral trade agreement.

Can you and AIDS please see your way out?

patriotz
Member

Nor is China, in fact the whole point of the TPP is to prevent China from dominating Asian trade.

Abdul Lahazi
Guest
Abdul Lahazi

Trudeau has not signed this yet. And the TPP has nothing to do with foreign workers.

Oracle
Guest
Oracle

http://www.cbc.ca/news/politics/tpp-apec-summit-talks-1.4396984

And everything to do with offshoring and foreign workers. But what do I know. Abdul is the only one who has a copy of the agreement.

patriotz
Member

“Trudeau just signed the TPP.”

In fact at present there is no TPP to sign. The countries have agreed on labour and environmental standards that would have to be incorporated into a future agreement.

Lost...but not leased
Guest
Lost...but not leased

The bigger question is

…drummrolll

Trudeau (whose yer Daddy?)can sign in text other than “X”?

history
Guest
history
bullwhip29
Guest
bullwhip29

New government data released this week shows that British Columbia has become more economically dependent on real estate transactions than Alberta is on oil
http://www.huffingtonpost.ca/2017/11/10/b-c-now-more-dependent-on-real-estate-than-alberta-is-on-oil_a_23273530/

Lost...but not leased
Guest
Lost...but not leased

Well..that ain’t saying much.

Alberta ‘s fortunes have been perpetually tied to oil,which history will show was a very bad bet(,moreseo via the tar sands bitumen shit they want to pump through BC via KinderMorgan pipeline).

Alberta is primed to be North America’s “Chernobyl”..an ecological disaster if one does the proper environmental accounting of what the Oil industry has left as unfunded liabilities(ie thousands of wells have not been properly secured and capped etc.).

PS: At least in BC we can depend on Vision and Horgan’s NDP to fix things 100%….right !!!????!!

bullwhip29
Guest
bullwhip29

A delegation of Chinese investors were in Orillia Wednesday, a news release issued Friday stated. The investors arrived in Canada last week, and visited a number of other centres, including Toronto, Markham, Ottawa and Niagara Falls.
http://webcache.googleusercontent.com/search?q=cache:Fi8Qq-JN-5cJ:www.orilliapacket.com/2017/11/04/orillia-shown-off-to-chinese-investors+&cd=1&hl=en&ct=clnk&gl=ca

“…the city is remaining tight-lipped as to the specifics of the trip…”

“…visit was not made public until after they left the city…”

“…the city is unable to disclose the specific development interests proposed by the delegation…”

>>> original article has been removed from newspaper’s website

bullwhip29
Guest
bullwhip29

LOL…does any of this sound familiar??? have a good weekend all!

Video questions whether Canada is headed for a housing crash in 2018
https://www.straight.com/news/993846/video-questions-whether-canada-headed-housing-crash-2018

bullwhip29
Guest
bullwhip29

>>> think for a moment and ask yourself, who is the govt really trying to fool with this fake map and secondly, what is this so called “shopping” mall really being used for???

http://www.cbc.ca/news/canada/saskatchewan/government-defends-fake-map-of-gth-to-sell-chinese-megamall-as-artist-s-rendering-1.4393646

Just me
Guest
Just me

Selling out to the Chinese? We are that desperate for their cash?

bullwhip29
Guest
bullwhip29

>>> think for a moment and ask yourself, who is the govt really trying to fool with this fake map and secondly, what is this so called “shopping” mall really being used for???

http://www.cbc.ca/news/canada/saskatchewan/government-defends-fake-map-of-gth-to-sell-chinese-megamall-as-artist-s-rendering-1.4393646

bullwhip29
Guest
bullwhip29

Twitter video shows vehicles disobeying stop sign in school zone
http://bc.ctvnews.ca/twitter-video-shows-vehicles-disobeying-stop-sign-in-school-zone-1.3672962

https://twitter.com/PaulDoroshenko/status/928820816375984128

>>> LOL…in this small sampling of 5 cars, there was one prius, one BMW, one Mercedes and two Range Rovers…

Combat roach
Guest
Combat roach

As he said a cultural shift. In other words, multiculturalism takes precedence over traffic rules. Very soon if you stop on STOP you will be called racist.

https://youtu.be/3ae1r8Kzrww

Lost...but not leased
Guest
Lost...but not leased

Stop signs simply add to Global warming…
Given current and future technological advances , traffic flows should seemlessly integrate so as not to wear out brakes.

(******WARNING ******Exception =Foreign Locusts)

Doomcouver
Guest
Doomcouver

Sorry parents. Culturally Chinese people run over children and then drive away. It’ll take some adjustment time, but you’ll learn to accept this cultural norm.

Best place on meth
Member
Best place on meth

Only the guy in the pickup truck stopped.

Pretty safe to say he’s the only one of those drivers NOT from china.

Combat roach
Guest
Combat roach

Prius is questionable, unless it is a courtesy car from some luxury cars body repair service?

@Yikes
Guest
@Yikes

I’d bet on that.

Shut It Down Already
Guest
Shut It Down Already

In a town that’s spent almost 10 years in a RE bubble you think that only rich foreigners drive a fucking Prius? Loser.

bullwhip29
Guest
bullwhip29

A protester who opposes locating a modular housing project in Marpole says the people who would live there should be located in Stanley Park
https://globalnews.ca/video/3855928/send-homeless-to-stanley-park-says-marpole-protester/

>>> unbelievable…this selfish twat should just shut the eff up and accept the fact that every now and then she might have to toss a few crumbs to the less fortunate. if it werent for all the loopholes being exploited, taxes evaded, palms greased and corners cut maybe we wouldnt be in this predicament in the first place.

Best place on meth
Member
Best place on meth

That scummy locust can’t even speak English.

If you can’t speak English, you have no business commenting on where homeless people should be sheltered.

Go back to china, bitch.

Shut It Down Already
Guest
Shut It Down Already

Just fuck off, you racist twat.

Best place on meth
Member
Best place on meth

And…..triggered!

Lost...but not leased
Guest
Lost...but not leased

Lee -Ca$$shing sez:
……. that protestor has valid points given they have zero accent and thus deeply imbedded into Canadian culture.
(……….as opposed to foreign locust whose numbers are reportedly miniscule)

….”.Stan Lee Park” is duly noted by protestor as place to park undesireables..they are obviously in tune with modern western culture of Marvel Comics.

PS: Should resurrect the Polar Bear pit(with catapult) so foreign locusts can experience Canadian Culture.

@Yikes
Guest
@Yikes

You can’t just immigrate to another country and consider their homeless as trash. Why are you not criticizing that lady for her opinions. IMO she should be deported for radicals views unbecoming a Canadian.

Shut It Down Already
Guest
Shut It Down Already

But immigrating from another country and being an ignorant racist buffoon is ok? No double standard there, dumbass.

Combat roach
Guest
Combat roach

It is shocking how that primate even got to Canada, let alone settled and protesting? Only place where she should be is some anthropology museum as an exhibit to support a “missing link” theory. Fucking horror…

YVR
Guest
YVR

Primate? That is an insult to chimpanzees.

Abdul Lahazi
Guest
Abdul Lahazi

She is pretty disgusting all right. It is really a shame that Vancouver has degenerated to that level.

Combat roach
Guest
Combat roach

It is stunning how those lowlifes always pull children to fit their agendas either to obstruct teachers during the protest (parents tugs from Richmond) or their usual bullshit-justification for money laundering and RE hoarding being done in the name of getting their kids into good schools, clean air, good future and other good sounding shit.

Best place on meth
Member
Best place on meth

Yes, because the homeless are such a threat to children.

They kill and eat them all the time.

YVR
Guest
YVR

Where is stanley parka?

Best place on meth
Member
Best place on meth

It’s Stanee Pok.

I’m sure the chimp said Stanee Pok.

@Yikes
Guest
@Yikes

Sign of things to come. I’ve been to China and have seen how africans and the poor are treated. Canadians better grow some balls and soon.

Best place on meth
Member
Best place on meth

Their society is so sick and corrupted, that to them it’s perfectly normal, acceptable and expected for the strong to take advantage of the weak and exploit them to the fullest.

They believe in the law of the jungle, and we’ve imported hundreds of thousands of these barbarians.

Our country is circling the drain.

paulb
Member
Active Member

New
151
Price Change
49
Sold
117
TI:9504

http://www.clivestevepaul.com

Yikes
Guest
Yikes

Car sales are slowing suddenly here in Vancouver, down 20% oct and 40-50 % this month….shift is on

@Yikes
Guest
@Yikes

Source?

Yikes
Guest
Yikes

I do weekly floor plan inventory for all dealers and somethings all of a sudden changed. Slowwww sales

Road Warrior
Guest
Road Warrior

Bullshit.

I worked in the industry for over two decades in sales. Each dealer makes their own independant floorplan arrangements, either thru their own bank, or the the manufacturer’s captive financing arm, It is impossible for anyone to do weekly floor plan inventory for “all” dealers……..and doing it weekly is also not done in the industry. It happens monthly, but only if your dealership is on their watch list.

Dealers in Vancouver are doing just fine. They are not down 40% this month or 20% last month. I work for a major DMS company and have access to the live stats.

Bestplaceonearth
Guest
Bestplaceonearth

Permabear is just full of bs in its brain.

Abdul Lahazi
Guest
Abdul Lahazi

More on the modular housing protests:

https://globalnews.ca/video/3847265/vancouver-residents-protest-modular-housing-plans/

This is interesting spin by Global on who they interview. Most of the protestors are asian, but Global only interviews the white males and an EI guy. No screaming female locusts or other locusts are interviewed.

Lost...but not leased
Guest
Lost...but not leased

Of course..only white people can be racist…no-one else is.

Shut It Down Already
Guest
Shut It Down Already

So you didn’t even watch the video then? This is simple nimby-ism.

Lost...but not leased
Guest
Lost...but not leased

If SIDA is referring to me, of course I watched it.
Interesting that ONNI is supplying the locale.

Shut It Down Already
Guest
Shut It Down Already

So you watched it and still don’t understand? Figures.

Lost...but not leased
Guest
Lost...but not leased

T’NOD DEEF EHT LLORT

Dyugle
Guest
Dyugle

Two sewage pumping stations and the garbage transfer station. Smells great on a hot sunny day. Maybe the residents think the have taken enough $hit already and it’s another areas turn.

lsower
Guest
lsower

they probably wanted someone who can speak english

Bill
Guest
Bill

Visitors to this site are invited to join “Metro Vancouver Housing Collapse” , a new “closed” FB site so they can share their News and views on the current Vancouver area housing market.. However, no racist comments or xenophobic rants will not be tolerated!!

Bill
Guest
Bill

That should read: “racist comments and xenophobic rants will NOT be tolerated”.

Lost...but not leased
Guest
Lost...but not leased

Do you have a link?

Best place on meth
Member
Best place on meth
Confucius
Guest
Confucius

So essentially none of the posters from this site are allowed to comment.

Super Oracle
Guest
Super Oracle

thats just wrong.

Abdul Lahazi
Guest
Abdul Lahazi

None of this sounds too appealing to me.

Super Oracle
Guest
Super Oracle

Even on this site, there are, at max, maybe 3 racists. Rest are trying to debate immigration numbers (effect on jobs, infrastructure, housing) and/or how some people with a foot in 2 countries aren’t paying their fair share of taxes.

history
Guest
history

Oracle, Space and AIDS

Lost...but not leased
Guest
Lost...but not leased

GOOGLE? No such site exists

Super Oracle
Guest
Super Oracle
NDP backroom boys are going to sabotage the referendum. Who has been mentioning this of late? hmmm? So NDP backroom boys have started to spread the fear that electoral reform will lead to rise of ‘racist’ parties. Meoggs and his right hand media man Tieleman have started to spew the fear mongering. https://thetyee.ca/Opinion/2017/11/10/How-Proportional-Representation-Empowers-the-Far-Right/ Like i said, people here like BPOM and Just Me are kidding themselves if they think the NDP (& Libs) will allow the referendum to pass. As I’ve mentioned here before, now is the time to press the Greens. Otherwise, window of action is fast closing. Threaten Weaver with a “NO” vote if they don’t call out the NDP IMMEDIATELY on housing inaction as a confidence vote issue. However, the conspiracy/sinister side of me says that Weaver knows exactly what is going to transpire over the next… Read more »
Lost...but not leased
Guest
Lost...but not leased

Coincidentally, I was reading the same article..
If you see name “Bill Tieleman” WATCH OUT….nothing more than a shill.

Weaver appears to be silent now. Has he shot his wad re: issues?
( NOTE: I do have to give him credit for being quite well versed in many areas, and about the only MLA that is not afraid to speak their mind.)

Housing Issue? IMHO, the only solution is the Hong Kong model and build co-op style public housing hi-rises..no brainer.
Vancouver is hollowing out..to stem the tide Gov’ts at all levels will have to become involved.

Proportional Representation will fail….our entrenched system cannot accomodate it. Far Right or Far Left could take over…all sorts of 1/2 assed movements could be created , run candidates and we have a Monty Python style gov’t

Dyugle
Guest
Dyugle

I’ll vote for PR as FPTP get 2 party US style politics and that produced Trump. Kinda destroys the narative.

history
Guest
history

http://www.philstockworld.com/2017/11/10/sam-zell-is-stumped-for-amazons-value-to-be-justified-it-has-to-be-worth-25-of-the-us-economy-in-5-years/

Sam has lots to say about RE quality, go beyond the Faang stuff.

If RE quality is driven by walking distance.. that puts plenty of us in our vehicles… out of the reach of vampire Ivey League hedge Funds?

Abdul Lahazi
Guest
Abdul Lahazi

ORACLE:

PM Trudeau says he wasn’t ready to sign TPP

https://globalnews.ca/video/3856719/pm-trudeau-says-he-wasnt-ready-to-sign-tpp/

STOP your LYING.

Super Oracle
Guest
Super Oracle

Are you one of those challenged people who also believes Vancouver is growing by only 25,000 people per year? LMAO. Because “Google said it”?

50,000+ nowadays!

Free trade (TPP at all cost).

TPP has a stipulation in it that you can’t charge a foreign buyers tax on real estate. What do you thing the China Free Trade agreement is going to do?????

Try to keep up son.

Abdul Lahazi
Guest
Abdul Lahazi

And still more lies from you.

Super Oracle
Guest
Super Oracle
Super Oracle
Guest
Super Oracle

FBT doomed. If you can’t charge it to someone from Japan, then you. Any charge someone from China. That’s blatant discrimination.

Thank Trudeau.

Super Oracle
Guest
Super Oracle

6000 square foot lot in Surrey has broken the $1 million dollar barrier.

Wow.

Abdul Lahazi
Guest
Abdul Lahazi

Lie.

Super Oracle
Guest
Super Oracle

Sure if you want to keep your head in the sand.

Lost...but not leased
Guest
Lost...but not leased

Recall back in the early 1990’s during the hot RE market PoCo , prices for SFH fora short time exceeded those in Richmond.

What seemed to happen is buyers psychology gave up on Richmond, invested in Poco, which drove up the prices. IMHO, if this occurs in outlying areas, bad news…as when the crash comes these will be hit harder aka false sense of security and value.

Just me
Guest
Just me

This is straight out of the Reuters article about the TPP. Verbatim.

“The TPP currently requires member states to give foreign investors equal treatment to locals unless there are specific exemptions.”

Do Canadians want to give a free hand to mainland Chinese “investors”. We will not be able to regulate access to real estate any longer. International law will forbid local governments to implement taxation on foreign acquisitions of real estate.

Think about it.

Shut It Down Already
Guest
Shut It Down Already

You’ve no idea what “exemption” means then?

Just me
Guest
Just me

The Canadian government has, so far, not applied for any exemptions for investments in real estate by foreigners.
I believe Trudeau and company do not desire to stop those money flows.
Do you have evidence to the contrary?

As things stand, TPP would make the FBT and similar legislation harder to implement and sustain. It should not pass in its current form, and we should let our MPs know about this.

Real estate should not be freely accessible for international capital.

patriotz
Member

I will point out once again that TPP does not include China, and this exclusion is intentional.

Just me
Guest
Just me

It does however provide grounds for legal action based on racial discrimination.
A Chinese buyer can go to fourth and argue that a Vietnamese non-resident should not have extended rights not available to his/her family. The court would likely agree.

The TPP is a step in the door.

patriotz
Member

Oh please. US citizens have enjoyed special economic rights in Canada under the FTA for 30 years now and nobody has even attempted the argument that this constitutes some sort of racial discrimination against non-Americans. You might also consider things like foreign tuition surcharges which have been around just as long.

Dude Chilling
Guest
Dude Chilling

Yes I’d agree with this and we shouldn’t see a bogeyman everywhere we look. And exclusion by country is not racial discrimination anyways.

Just me
Guest
Just me

The FBT is not the most effective way to discourage foreign investment. But it does seem to have an effect on new and marginal buyers, at least at the psychological level. Knowing your money is not welcome does discourage some potential buyers and leads them to find other markets. See below for recent evidence.

Foreign buyers overlooking Vancouver, heading to Seattle at ‘frenetic’ pace.
http://www.cbc.ca/news/canada/british-columbia/seattle-real-estate-tax-1.4398594

If we implemented the tax changes suggested by the UBC/SFU academics, the consequences would be tangible and vastly positive for our quality of life in the long term. The NDP would lock in re-election if they did it. But so far they have shown no appetite for it.

Lost...but not leased
Guest
Lost...but not leased

Good luck Seattle, you will need it.

Just me
Guest
Just me

If the TPP goes through in its current form, we will need luck. The onslaught will be unstoppable.

Just me
Guest
Just me
The latest research by Credit Suisse’s economics and equity teams spotted a tight correlation between Chinese capital flows and Sydney housing prices. Movements typically impacted on local property demand around 12 months on from events occurring in China. http://gearsofbiz.com/chinas-harsh-investing-rules-are-changing-sydney/192749 Credit Suisse suggested Chinese buyers have previously driven up valuations in expensive Sydney suburbs and apartment blocks, with this then having a spill-over effect for higher pricing in other suburbs. “We believe that Chinese buyers spark the cycle, while local investors chase the momentum,” Credit Suisse said. Credit Suisse advised over the past year Chinese capital flows have fallen considerably, in part reflecting the impact of stricter capital controls in China. “This fall foreshadows weakness in NSW housing demand in the year ahead,” it said, adding that the Sydney housing market had already cooled over recent months. It also noted revised… Read more »
patriotz
Member

“a tight correlation between Chinese capital flows and Sydney housing prices.”

Of course this is evidence that Oz’ policy of restricting foreign RE investment to “new” properties is not effective in controlling levels of investment or prices.

Just me
Guest
Just me

So be it.
Doesn’t however suggest that we should perhaps try some more effective measures?
The political will to stop this social disaster is not there.

patriotz
Member

That is exactly what I have been saying all along.

Dyugle
Guest
Dyugle

Simply apply the business tax rate to all properties except principle residences.

Just me
Guest
Just me

Fat chance of that.
Horgan has already stated that we have to preserve the equity of homeowners.
We better pray that Eby can convince him otherwise.

specuskeptic
Member

How did gov’t policy work to prop up values in the US?… and how did that work out? Granted, home ownership grants and breaks are silly and extend the bubble, but they can’t keep it afloat.

history
Guest
history

Steve Keen, the patron Saint of VCI,

“House Prices positively correlated (0.82) to the rate of mortage refinincing”

‘tight’ doesnt cut it. ‘nothing word.’.. where’s the math?

Shut It Down Already
Guest
Shut It Down Already

Then we should see an equally tight correlation between Sydney and Vancouver prices…

Just me
Guest
Just me

Just plot the last 10 years and let’s have a look…..

Shut It Down Already
Guest
Shut It Down Already

I found a graph, and the correlation isn’t there. Unless you think just a general uptrend counts, which it doesn’t.

Just me
Guest
Just me

I do think the uptrend counts. Very much so.
You are also forgetting about inverse seasonality in the two markets.
Anyway, waste of time trying to convince you. You believe that earth is flat.

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http://www.zerohedge.com/news/2017-11-12/high-prices-and-zombie-housing

FAKE economy, getting as bad as Soviet era Gorbachev GLASNOST

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