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?
So what are you seeing out there?
Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!
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???
Why anybody would buy stuff like that or anything else from that fraud of a country is beyond me.
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.
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.
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
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.
“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.”
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.
I’ll buy one for storage. $500 cash, final offer.
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
Blame foreigners, though.
Rike Glegol Loberston ?
Pass the Flee Sart in case of Snow…flee fentanyl for evelybody
Why are locals panic-buying tiny condos? Because they’ve been priced out of SFHs because of…??
Perfect for parking the Lambo
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/#_
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
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.
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..
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.
Housing bears are white supremists now are they? You have a bent mind.
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.
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.
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.
Philippines is not part of this agreement. Your misinformation and scaremongering is astounding.
Then keep complaining for the coming years. And i missed a comma in my last comment; point that out sheesh.
Yeah, your missing comma is equivalent to completely misrepresenting a multi-lateral trade agreement.
Can you and AIDS please see your way out?
Nor is China, in fact the whole point of the TPP is to prevent China from dominating Asian trade.
Trudeau has not signed this yet. And the TPP has nothing to do with foreign workers.
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.
“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.
The bigger question is
…drummrolll
Trudeau (whose yer Daddy?)can sign in text other than “X”?
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/
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 !!!????!!
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
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
>>> 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???
Selling out to the Chinese? We are that desperate for their cash?
>>> 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???
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…
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.
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)
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.
Only the guy in the pickup truck stopped.
Pretty safe to say he’s the only one of those drivers NOT from china.
Prius is questionable, unless it is a courtesy car from some luxury cars body repair service?
I’d bet on that.
In a town that’s spent almost 10 years in a RE bubble you think that only rich foreigners drive a fucking Prius? Loser.
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.
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.
Just fuck off, you racist twat.
And…..triggered!
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.
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.
But immigrating from another country and being an ignorant racist buffoon is ok? No double standard there, dumbass.
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…
Primate? That is an insult to chimpanzees.
She is pretty disgusting all right. It is really a shame that Vancouver has degenerated to that level.
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.
Yes, because the homeless are such a threat to children.
They kill and eat them all the time.
Where is stanley parka?
It’s Stanee Pok.
I’m sure the chimp said Stanee Pok.
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.
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.
New
151
Price Change
49
Sold
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TI:9504
Car sales are slowing suddenly here in Vancouver, down 20% oct and 40-50 % this month….shift is on
Source?
I do weekly floor plan inventory for all dealers and somethings all of a sudden changed. Slowwww sales
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.
Permabear is just full of bs in its brain.
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.
Of course..only white people can be racist…no-one else is.
So you didn’t even watch the video then? This is simple nimby-ism.
If SIDA is referring to me, of course I watched it.
Interesting that ONNI is supplying the locale.
So you watched it and still don’t understand? Figures.
T’NOD DEEF EHT LLORT
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.
they probably wanted someone who can speak english
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!!
That should read: “racist comments and xenophobic rants will NOT be tolerated”.
Do you have a link?
Here you go.
So essentially none of the posters from this site are allowed to comment.
thats just wrong.
None of this sounds too appealing to me.
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.
Oracle, Space and AIDS
GOOGLE? No such site exists
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
I’ll vote for PR as FPTP get 2 party US style politics and that produced Trump. Kinda destroys the narative.
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?
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.
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.
And still more lies from you.
Try to keep up son. Maybe just be a passive visitor to this site.
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.
6000 square foot lot in Surrey has broken the $1 million dollar barrier.
Wow.
Lie.
Sure if you want to keep your head in the sand.
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.
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.
You’ve no idea what “exemption” means then?
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.
I will point out once again that TPP does not include China, and this exclusion is intentional.
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.
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.
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.
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.
Good luck Seattle, you will need it.
If the TPP goes through in its current form, we will need luck. The onslaught will be unstoppable.
“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.
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.
That is exactly what I have been saying all along.
Simply apply the business tax rate to all properties except principle residences.
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.
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.
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?
Then we should see an equally tight correlation between Sydney and Vancouver prices…
Just plot the last 10 years and let’s have a look…..
I found a graph, and the correlation isn’t there. Unless you think just a general uptrend counts, which it doesn’t.
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.
http://www.zerohedge.com/news/2017-11-12/high-prices-and-zombie-housing
FAKE economy, getting as bad as Soviet era Gorbachev GLASNOST
