Rate hikes in 2018

Southseacompany points out this article in the Financial Post warning of ‘three or more‘ rate hikes next year.

Investors are assigning a 20 per cent chance of an increase at the decision Wednesday, with a statement to be released at 10 a.m. Ottawa time. Only four of 26 economists surveyed by Bloomberg News expect Poloz to increase his 1 per cent benchmark rate, with all major Canadian banks expecting a pause.

Central bank policy makers — who raised borrowing costs for the first time in seven years in July and September — are handling the normalization of policy very carefully. By their own measure, interest rates are still a full 2 percentage points below what they would consider “neutral” but the Bank of Canada is wary of raising borrowing costs too quickly for fear of inadvertently triggering another downturn.

Read the full article here.

135 Comments on "Rate hikes in 2018"

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bullwhip29
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bullwhip29

I will go on record by saying that there will be NO rate increases in 2018 due to a whole host of reasons ranging from political uncertainty in the US, NAFTA negotiations that appear to be going nowhere, a Cda-China trade deal that may be another train wreck in the making, a slumping Cdn economy (not to mention toppy markets in the US and Asia), mortgage underwriting practices that have proven to be too slack with institutions like HCG and now LB being exposed, new guidelines being proposed by OSFI and above all else, the most bubblicious housing market coupled with the highest debt per capita in the developed world right here in Canada

BubbleTea
Guest
BubbleTea

Hate to agree with you. I think the “Everything Bubble” is so big and any interest rate hike will pop it and the Central Bank knows that. The bubble will have to pop on it’s on weight and the printing press will go overtime. What a sick world we live in.

b kalra
Guest
b kalra

More jump in real estate price in next two months, they wanted, so they can considered rate increase.

AngloMan
Member
AngloMan

Why did they want?

history
Guest
history
There are Cultures that find the Printing press Virtuous. The best modern day example is Greece. The took on Euro loans in monumental proportions because they thought this money would quickly devalue as though it was under the discipline of a Greek banker, but it wasnt, it was under the control of a German .. so guess what happened to Greece? Have a look at austerity in Greece It’s not pleasant. This country enjoyed the Longest Life Span, amongst men prior to 2010. Ask them now how they are faring. You can live a loong time when the money is Free. Ask a Brit how its going? They are dying young in record numbers because of the Financialization of their country.. those in the Financialization business can live long and prosperous lives But Only if it’s Done at Someone Elses… Read more »
history
Guest
history

“Whether it’s about how aggressive or how cautious policy should be — getting the dosage right demands sound judgment about complex trade-offs,” Bank of Canada Senior Deputy Governor Carolyn Wilkins said in a Nov. 15 speech, the last by a central bank governing council member before the decision.”

.a meducal analogy from a woman, so you know Bank Policy is more about Vital Statistics… ie. birth control, how much fentanyl to bring in, under what dosage strengt to maximize murder and no global banker gets caught. It’s also abought how much marijuana capacity to build, . remember, we live in a Political Economy. Welfare for landlords is, at times, a complex endevour.

Bear Vancouverite
Member
Bear Vancouverite
You are on record saying there would be no rate increases this year as well, and you were wrong. I’m pretty sure you were also skeptical of the stress testing coming about and it did. I enjoy some of the posts you share, but you’re way too pessimistic. I’m skeptical of 3 rate increases next year I’m not going to assume they won’t happen (keep in mind I’m skeptical how quickly we’ll return to 4+% rates). The fact is that the Fed is largely expected to raise rates next week, its basically baked in at this point, and most people expect them to raise rates at least 3 times next year. Conventional wisdom says Canada follows suit, if a bit more slowly. At this point whether the BOC does 3 rate hikes, 2 rate hikes, or no rate hikes in… Read more »
Oracle
Guest
Oracle

Have you seen the Laurentian Bank story? i don’t think buyers at the margins care. They will just hire a mortgage broker to get er done. Or go to a credit union.

Dave
Member

Ya, credit unions are set to do well with the rule changes. They are well capitalized too. It’s a bit of a flaw in the changes coming down, as is the broker loophole, as you point out.

The people in charge have no idea. They’re clueless.

While you’ve been a bit trollish, you know what the deal is. You’re an insider like me.

Regardless of that, liquidity is still going to be drained to some extent. We’ll see if it’s enough to cause a pop. Probably not. It will need something from the government to hurt market confidence, which won’t happen either. It’s going to take something external like a Chinese liquidity crisis. We’re probably not getting a US recession for at least a couple years.

Bear Vancouverite
Member
Bear Vancouverite
You and Oracle are fear mongering that credit unions will take up the load, when actual industry insiders have indicated that credit unions just can’t handle anymore mortgages. I did some research and believe that Credit Unions cannot “take up the slack” as you imply. VanCity is the largest Credit Union in BC so I took a look at their 2016 Consolidated Financial Statements (linked below). They have $19B in member deposits, of which 17.6B were already lent out, including $11.8B in mortgages. Coast Capital is the 2nd largest CU and they have loans of $12.9B out of $13B of deposits. If the two largest CU are maxed out you can be sure they are all maxed out. http://annualreport.vancity.com/pdf/2016_Consolidated_Financial_Statements.pdf For comparison, BMO, CIBC, Scotia, TD and RBC have mortgage porfolios of $100B, $186B, $193B, $189B and $244B respectively. So each… Read more »
Oracle
Guest
Oracle

LOL Fear Mongering????

How about facts.

AngloMan
Member
AngloMan

Says the person who hasn’t provided evidence for a single thing they have posted on this forum in all the time I’ve been coming here (10 yrs aprox)
LOL! OMG! ROTFL!

oncebittwiceshy
Guest
oncebittwiceshy

Well said Bear, but you also have omitted the most important item about credit unions. The second largest credit union, Coast Capital Savings, is now federally legislated and is therefore under OSFI legislation. As a matter of fact, any credit union that decides to go national is under OSFI supervision. Oops, sorry Oracle.

Oracle
Guest
Oracle

Link?

oncebittwiceshy
Guest
oncebittwiceshy
Lost...but not Leased
Guest
Lost...but not Leased

WTF? we don’t need any more financial institutions competing with the Big Banks aka exposing themselves to increased risk likely via mortgage market.

bullwhip29
Guest
bullwhip29

not gonna argue with that. i honestly thought they’d stand pat. now it looks like they are going to do an about face after realizing that the Cdn consumer can’t handle even a couple of 25bp ticks upwards not to mention the fact that much of resurgence in selected sectors of the Cdn economy were buoyed by the low loonie.

bullwhip29
Guest
bullwhip29

i have also observed what has occurred in japan over the last generation. while the situation in n.america and europe may not be precisely the same, we are also dealing with many of the same issues. it is entirely conceivable that low rates may remain for many more years or even decades as policymakers continue to kick the can down the road and ignore the massive elephant in the room.

Bear Vancouverite
Member
Bear Vancouverite

I personally believe that low rates are here for a longer haul. All I’m saying is that we should not assume that there are 0 rate hikes in 2018 and 2019, its a pretty risky bet. I think the BOC wants to bring rates closer to 2%, and if the stress test is still around then people will need to qualify at near 6%.

oncebittwiceshy
Guest
oncebittwiceshy

Prime rate may very well stay low, but as the Fed raises rates down south the bond market will ultimately decide mortgage rates here. Enjoy these next few weeks because the new year will certainly introduce a lot of people to the downside of leverage.

Best place on meth
Member
Best place on meth

Japan’s population is decreasing by 1200 people per day.

There is no comparison.

Oracle
Guest
Oracle

Obviously. The bond yield curve shows it. Max 1 increase if that.

The MSM touts its masters agenda by “talking” and influencing the sheep.

Oracle
Guest
Oracle

Quit the down voting Specku!!

Best place on meth
Member
Best place on meth

Thanks for reminding me to downvote you.

Oracle
Guest
Oracle

Hey don’t down vote me, down vote Eby Horgan James and the gang.

specuskeptic
Member

LOL. Says the sockpuppet master who never lets evidence get in the way of a good scare tactic. You promised to leave…. Still waiting.

Oracle
Guest
Oracle

weirdo

Abdul Lahazi
Guest
Abdul Lahazi

IMO they will raise at least twice in 2018 because they have made too much noise about it now to not raise. Their credibility is at stake. Also with Yellen out there will be more impetus to increase rates. BoC will follow along as usual.

Dave
Member

That’s how I see it. That said, I think Poloz is a dummy and he seems to be erring on the side of low rates. He should have raised them today. The last jobs report was way too strong not too. He also has to know we have a housing bubble. Maybe he’s a bit like the NDP and waiting to see what affect the mortgage changes will have.

These guys are fiddling while Rome burns. Prices keep going up… it’s not the time to be cautious. They need to be pro-active. Trying to engineer a soft landing is foolhardy.

bullwhip29
Guest
bullwhip29

i think best case is that they will continue to tighten lending guidelines while doing everything in their power to keep the loonie low

bullwhip29
Guest
bullwhip29

given what has occurred with the trump adminstration to date (with one lie after another), i wouldn’t rule anything out. for all we know, they will turn the printing presses back on

history
Guest
history

The geniuses here are making interest rate prognostications overly pessimistic. Interest rates will move down and go negative next year.

More rules are coming into the market because of Fraud problems, and other very serious issues like a Growing segment of the population Wont Even Go Into a Building if its been Financially mined. This kind of building, whether a home or commercial structure, gives off an energy that sickens, and best to be avoided, torn down.. the land revert to Gaia

Abdul Lahazi
Guest
Abdul Lahazi

Asked what country he most admires, Trudeau’s answer is no longer China

https://globalnews.ca/news/3899392/trudeau-admires-most-not-china/?utm_source=Article&utm_medium=EditorsPick&utm_campaign=2015

“The future prime minister’s odd answer: “You know, there’s a level of admiration I actually have for China ….”
China? Why China?
“Because their basic dictatorship is allowing them to actually turn their economy around on a dime”
There is a flexibility that I know Stephen Harper must dream about of having a dictatorship that he can do everything he wanted that I find quite interesting.”

Now Trudeau claims he admires Canada, but we all know he still loves “basic dictatorships” and China.

Diadora
Guest
Diadora

“Canada has very little influence on China. Canadian media ought to know its place” : Editor-in-Chief Hu Xijin

history
Guest
history

It’s a pinky beside a zit

history
Guest
history

Pinky squeeze done right …. haha

Im so full of myself these days

Anyway, hows it look on Hang Seng today? 90 percent students and housewives work at Night in Vancouver, y’know.

Red Shares taking a bit of a beating.. Only Chinese citizens can twade these shares… but, but, but… how much you wanna bet every fuken student and housewife Working The Night shift qualifies for A share trades?

Abdul Lahazi
Guest
Abdul Lahazi

For the first time in 7 years, there are more homeless in US

https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=f41364&mobile=false

LOS ANGELES – The nation’s homeless population increased this year for the first time since 2010, driven by a surge in the number of people living on the streets in Los Angeles and other West Coast cities.

Why only the west coast cities? Due in no small part to Asian real estate speculation.

history
Guest
history

Yeah, im one of them. But it’s very different this time from prior years. In the past i could go into a home or commercial building, but it’s getting harder and harder to do that now. Very creepy, Buildings give off a health or sickness of their prior occupants. Thats why people love walking in my footsteps, especially as they follow me around the internet
Hi everyone(waves)!

bullwhip29
Guest
bullwhip29
Best place on meth
Member
Best place on meth

it’s worth noticing that China’s ruling princelings have already secured a shadowy free trade zone for themselves in Metro Vancouver real estate. Last month, the International Housing Affordability Study identified Vancouver as the least-affordable city in North America, while the corruption watchdog Transparency International reports that Vancouver has emerged as a major transnational money-laundering hub.

Dirty money is pouring through Metro Vancouver casinos, and the region’s housing stock is increasingly owned by shell companies, trusts, anonymous beneficiaries or nominees who list their occupation as “housewife” or “student.” It’s gotten so that B.C. Attorney-General David Eby reckons that there is simply no relationship between house prices in Metro Vancouver and taxable income reported to Revenue Canada “until you get out to the distant suburbs.”

Just me
Guest
Just me

Yet some people keep denying these fairly self-evident facts.
No matter how many international agencies and researchers tell us this is the case (including many local ones, like Andy Yan, John Kesselman, Tom Davidoff,….many otherrs).
All racist ignorant people, I guess.

Best place on meth
Member
Best place on meth

You mean HAM deniers?

They’re worthless traitors like Turdeau.

Scum who cozy up to china make me sick to my stomach.

bullwhip29
Guest
bullwhip29

Rent starts at “affordable” $3,333 for three-bedroom units at city-backed Vancouver development
https://www.straight.com/news/1004706/rent-starts-affordable-3333-three-bedroom-units-city-backed-vancouver-development

Shut It Down Already
Guest
Shut It Down Already

So the weasels define “affordability” by how much it costs to buy a comparable (and over-priced) unit rather than by what people who live in the area earn, or even what equivalent market rental units go for.

I’m surprised they didn’t factor in a few of interest rate increases to try and persuade everybody that owning a 2 bedroom costs over $6K, therefore anything below that meets their definition of “affordable”.

Doomcouver
Guest
Doomcouver
Haha that’s ridiculous, who is this affordable for? Doctors and Lawyers? A Starbucks barista is able to afford $1500 for a studio apartment? What a joke. “Two-bedroom units will be rented out at $2,539; one-bedroom units, $1,922; and studios, $1,496. … For a two-bedroom home in the same area of the city, staff reported that it costs $4,494 a month; one-bedroom, $2,762; and studio, $2,088.” 56%, 69%, and 71% of market value. When Gregor refused to define what “affordable” was I knew immediately what that meant. This is a government sponsored undercutting of other free market rentals, and clearly has no intention of being “affordable”. They’re just using taxpayer money to price out their competitors. The flood of inventory from the vacant housing tax will leave landlords fighting for tenants, and they won’t be able to compete with the city.… Read more »
history
Guest
history

Starbuks barrista afford $1500 studio apart? What a joke.

$1 Golden Archies brew, xlarge, refillable. This is 6 times as much coffee than at Sbuks $ equivalent

6 times

So if a barrista cant afford a 1500$ place already, and the competitor is selling coffee 6 x cheaper… whew.. McDuck math is a fun exercise every now and then.

history
Guest
history
Lets say for the sake of the old days before the Financialization Fraud, thanks to computing power in the hands of ammoral dropouts and other assorted inbred mortgage broker dogs, ie. About 20 years ago, you could work, and your wages paid the rent. I’ll use myself as an example. I lived in a highrise at 6th and 7thA in New West in 1998, rent was 650$… Now if a barrista cant handle 1500$ now, lets say she could handle Half that, which seems reasonable to me because we are talking rent derived from wages. So, 750$. But, along comes McDuck and adjust coffee VALUES 6x. What is the wage cut miss Pinky at Starbuks gonna take to keep customers? Surely there is a ZogHerod Aquarian boy out there with a calculation? But dont stop with her new wage Adjustment..… Read more »
AngloMan
Member
AngloMan

Seriously H, what have you been smoking today?

Doomcouver
Guest
Doomcouver

Yeah history that’s kind of a garbled mess I can barely understand you. I would like some of whatever you’re smoking though.

YVR
Guest
YVR

“They’re just using taxpayer money to price out their competitors.”

The problem with government funded housing for anyone but the needy. You take from one tax payer and give to another. Expect more of this in the NDP budget as their solution to housing.

DaMann
Member
DaMann

What crack are they on? I did a quick calculation on a $700,000 k mortgage and the monthly comes to just under $2900, where do they get $4500 for a 2 bedroom from?

This city is so fucked it’s unbelievable. That’s affordable housing? That’s mortgage money on today’s overpriced garbage.

Shut It Down Already
Guest
Shut It Down Already

And almost half of that pays down the principal.

Just me
Guest
Just me

This is ridiculous. Marginally cheaper than market rental does not mean affordable.

This city would be so much better off if only there was a serious market crash. Short term pain long term gains.

YVR
Guest
YVR

“This is ridiculous”

Never trust an NDPer. More to come provincially.

YVR
Guest
YVR

“Monthly rent at the proposed development will start at $3,333 for three-bedroom units.”

Notice all the rents “start at” the numbers given meaning most of the units will actually be higher. Then rents will be increased every year. These are nothing more than market rentals.

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

B.C.’s grabby sea lion tops 2017 list of trending YouTube videos
http://bc.ctvnews.ca/b-c-s-grabby-sea-lion-tops-2017-list-of-trending-youtube-videos-1.3710313

Burnabonian
Guest
Burnabonian
history
Guest
history

ZogHerod is writing the Bible of the Aquarius age. Flavius and Alexander are in on the gig, There will be gangbang at Oxford during the Christmas holidays to go over all the remaining details. Hope to see VCI there

paulb
Member
Trusted Member

New
150
Price Change
37
Sold
139
TI:8976

http://www.clivestevepaul.com

Just me
Guest
Just me

Eby is working, quietly and efficiently. I am starting to think this will have much larger implications than originally thought.

Vaughn Palmer: Eby set to play government’s cards on casino crackdown.

http://vancouversun.com/opinion/columnists/vaughn-palmer-eby-set-to-play-governments-cards-on-casino-crackdown

He also this week explained why he chose to proceed via an expedited review with German as opposed to a more formal public inquiry into the abuses. ….. “public inquiries generally take a long time. People lawyer up and it takes a year or two before you get the recommendations. I just don’t feel we have that kind of time and I also don’t think the solutions are so complicated.

Just me
Guest
Just me

“Even as he proceeded along the problem-solving as opposed to the fault-finding route, Eby put the blame on the previous B.C. Liberal government for lax enforcement and the resulting damage to the province’s reputation.

Hmmm. With three former cabinet ministers in the race for the Liberal leadership, perhaps outside candidate Dianne Watts will be asking why they and their colleagues were dozing while criminals laundered wads of cash through provincial casinos.”

Best place on meth
Member
Best place on meth

Dianne shouldn’t be crowing about anyone being asleep at the wheel, she should be asking herself why Surrey became a shooting gallery during her years as mayor.

She is as slimy and opportunistic as any politician, jumping from municipal to federal to provincial in what seems like a matter of minutes. She’s not good enough to bring Eby a glass of water but she’d be a fitting replacement for Krusty.

I really believe her when she says she had nothing to do with the fear mongering about ISIS coming to Canada during the last federal election.

https://www.theglobeandmail.com/news/politics/star-tory-candidate-denies-fear-mongering-in-bc-flyer-controversy/article26501658/

YVR
Guest
YVR

“she should be asking herself why Surrey became a shooting gallery during her years as mayor.”

Maybe ask Horgan who seems to hang with these Surrey shooters.

http://www.cbc.ca/news/canada/british-columbia/b-c-premier-john-horgan-surrey-mayor-linda-hepner-pose-in-photo-with-convicted-shooter-1.4281767

YVR
Guest
YVR

“Eby is working, quietly and efficiently”

I will give you quiet but efficient would mean you are actually doing something. Eby has done nothing in his first 6 months. That is 15% of his term done and accomplished nothing.

patriotz
Member

Eby had been A-G since July 18, which is less than 5 months. But of course the facts are less important to your arguments than what sounds good.

YVR
Guest
YVR

I think he started work long before that date including when he was in opposition. What happened to the legislation he kept proposing when he was in opposition? It should have been easily ready to go in September. He is either a liar or suddenly became incompetent once elected.

Oracle
Guest
Oracle

people like you get the Trumps elected. Disingenuous at best.

Doomcouver
Guest
Doomcouver

LOL this made my night. https://vancouver.craigslist.ca/rch/apa/d/tiny-bachelor-unit-innovative/6407839926.html

That’s $500 a month for a CAMPER VAN in Richmond guys. We’ve officially jumped the shark. The multi-decade housing crash is coming in the next 5 years I personally guarantee it.

AngloMan
Member
AngloMan

“VAN IS NOT FOR SALE”!!! in case anyone would consider buying that piece of Junk for 500$
“15 minute bike ride…………..”!!!??? How long on roller skates?

AngloMan
Member
AngloMan

Or did i miss the point? Were they cheekily saying ‘Vancouver is not for sale”!
Hmmm

Confucius
Guest
Confucius

This guy sounds like an absolute douchebag. I thought about quoting him, but every line applies.

AngloMan
Member
AngloMan

He must have heard you – the post was deleted already…………..

Doomcouver
Guest
Doomcouver

I bet someone in this forum sent him a nasty message. :-3 That’s why I show up here, it’s the only place where almost everyone hates scumbag landlords and human garbage aka. speculators even more than I do.

Best place on meth
Member
Best place on meth

Mortgage stress tests to reduce housing activity to ‘unnecessary degree’, say crying mortgage brokers.

https://www.bnn.ca/mortgage-stress-tests-to-reduce-housing-activity-to-unnecessary-degree-study-1.934958

My commissions!

Best place on meth
Member
Best place on meth

More hilarious whining from the parasites

http://www.cbc.ca/news/business/mortgage-professionals-canada-1.4433319

“up to 100,000 buyers would fail the new stress test and be forbidden from buying the home they want at the price they want.”

“Perhaps 50,000 to 60,000 per year will be able to make a different purchase, albeit one that is less attractive to them,” the group said. But “perhaps 40,000 to 50,000 per year will be entirely removed from homeownership.”

“A better level for the stress test, the group says, would be testing borrowers’ finances at an interest rate that’s three-quarters of a percentage point higher, not two.”

Oh god, the horror! Why must we be so cruel to aspiring homeowners!

Doomcouver
Guest
Doomcouver

Yeah they’d much rather those 40 to 50k people become insolvent when rates legitimately go up by 2%. What a bunch of self interested dirtbags. The collective greed by realtors, bankers, and home builders in Canada makes me sick.

patriotz
Member

“up to 100,000 buyers would fail the new stress test and be forbidden from buying the home they want at the price they want.”

Buyers don’t pay the price they want, they pay the price they need to outbid others. As I said before with regard to the same person, he is completely ignoring the basics of how markets work.

bullwhip29
Guest
bullwhip29

US police arrest 50 Chinese nationals, seize US$80m in marijuana plants in raids on ‘syndicate’
http://www.scmp.com/news/china/society/article/2123219/us-police-arrest-50-chinese-nationals-seize-us80m-marijuana

bullwhip29
Guest
bullwhip29

you can guarantee that once pot is legalized here that the very same cast of characters will figure out a way a game the system once again

Oracle
Guest
Oracle

Less than 36 hrs to Ste C go ahead.

Yikes
Guest
Yikes

Rob mclister Canada’s well known mortgage expert is selling his house bluntly saying 2018 will not be good for housing, oh and Christy Clack our ex premier is also selling her Vancouver property

Just me
Guest
Just me

Links?

Dave
Member

The bull market case has now boiled down to population growth. When I talk about the market with insiders, that’s the argument I hear back. Prices won’t go down because people are flooding into the Lower Mainland.

Part of me says that it’s a valid argument. The other part of me says that sounds a lot like an excuse, or a rationalization to dismiss everything else that points to a bubble. We’ll see which is correct.

Confucius
Guest
Confucius

Not a real insider if they say any reason besides them knowing the market direction because they control it.

They sound like industry people who are reliant on the market, making their opinion completely biased. My dad sat in a conference room with other employees of a massive oil company in the 80s. They drew a straight line and said oil prices were going to be 200 dollars. A couple years later most of the people in that room were laid off because prices went the other way.

Dave
Member
By insider, I am not talking about some conspiracy. I am referring to people who make a living in the real estate industry. Yes, they are all reliant on the market and are biased to believe a bullish case. The reasons people give can often provide a tell for cognitive dissonance. The common tone I am hearing right now is that population growth will ensure prices stay where they are or keep going up. There is a recognition that a number of forces are working against real estate (interest rates, mortgage changes, new Provincial government, angry public, etc..), but the answer of population growth is an easy way to dismiss all that. That sounds a lot like cognitive dissonance to me. It’s a ‘ya but’ opinion. We’ll see if population growth can sustain the market, or not.
history
Guest
history

Something’s not right in my head

Bitcoin
$0000 – $1000: 1789 days
$1000- $2000: 1271 days
$2000- $3000: 23 days
$3000- $4000: 62 days
$4000- $5000: 61 days
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days
$9000-$10000: 2 days
$10000-$11000: 1 day
$11000-$12000: 6 days
$12,000-$13,000: 17 hours
$13,000-$14,000: 4 hours

Lost...but not Leased
Guest
Lost...but not Leased

BitCoin?
….lots of pro vs con info available.
The price rise?? Apparenlty 80% of Bitcoin is held by…drum roll…….Chinese.

All the signs its a suckers market about to crash.

Best place on meth
Member
Best place on meth

They’re also mining the vast majority of it.

Chinese make the best miners, ask anyone.

kabloona
Member
kabloona

“Something’s not right in my head…”

Finally, I agree with you on something….

😉

backwardsevolution
Guest
backwardsevolution
The ONLY reason long bond rates are not increasing in the U.S. is because the bond market realizes that the Fed has its back, that the Fed will step in again if there is a crash. Hey, what’s been the practice so far? Had the Fed (and the ECB, UK, Japan, China, Switzerland, etc.) not stepped in with massive – MASSIVE – liquidity, interest rates would have shot to the moon. Had the Fed (and the rest of the criminals) not stepped in to buy up underwater assets (preventing bankrupt companies from going under), interest rates would have shot to the moon. Our government has been aiding and abetting the looters, creating winners out of the bankrupt and making losers out of everyone else. They are doing this on purpose. Because it has been done on purpose, with intent to… Read more »
Just me
Guest
Just me

All levels of government are picking winners. This cannot last much longer, pressure is growing. Things need changing.
They are destroying the lives of too many, while favouring gamblers and rich investors.

Oracle
Guest
Oracle

What? ‘Talking’ on the internet? That don’t change shit.

Best place on meth
Member
Best place on meth

That’s never stopped you from trying.

30 times a day.

Abdul Lahazi
Guest
Abdul Lahazi

Condo sales surge pushes Montreal area real estate to best November in eight years

https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=07TB03&mobile=false

“Paul Cardinal of the Quebec Federation of Real Estate Boards has attributed monthly housing gains this year to strong job creation, consumer confidence, low unemployment and foreign migration.”

But no mention of speculating Asian buyers???

Dave
Member

Word on the street is December will be a huge month. People are rushing to beat the new rules. Don’t shoot the messenger.

bullwhip29
Guest
bullwhip29

i was told banks are telling clients to get whatever paperwork they have in order by next friday dec 15

was also told OSFI recently did a random audit on a sampling (a few dozen) of mortgage applications at one of the Vanc offices of big 5 banks and more than 95% of the applications were deficient in some regard. details and a breakdown of the various issues were not provided. at the end of the day, one can’t say for sure their is deliberate and widespread fraud going on, but it is clear that there is most certainly a lot of sloppy work being done

Dave
Member

I’m sure the answer is a bit of both. Obviously 95% of applications are not fraudulent in some way. But, I do think a lot of people are able to trick lenders when it comes to income and I think the brokers are more than happy to be tricked because that’s how you get a deal done and get paid. My intuition would say about 20% of exaggerations in one form or another.

It’s the natural cycle of bureaucracy and paperwork. Once people start losing money, they will go over the top the other way, which ironically, only hurts the market and themselves even more, as it tightens the money supply.

Laibach
Member
Active Member
Laibach

I don’t know for others but all people I know who bought in last 10 years somewhat fudged numbers with the support of all parties involved in order to stretch to the next bigger, better and more expensive RE. Basically, nobody went with the truth and reality but lie and false buying power calling it “the way how things get done and on what everybody agrees upon, meaning no risks whatsoever”.

Lost...but not Leased
Guest
Lost...but not Leased

If that’s the case, we will see a big bulge in sales, and rest assured that the data will be manipulated by real estate cartel with some self serving spin .

Yikes
Guest
Yikes

To stay in tune with market I been checking out the odd open house detached properties….. Vancouver…. it use to be 86% asians and a shoe store on the front step…. lately a half dozen white locals at most. My how things are changing….

Oracle
Guest
Oracle
NDP record so far: SITE C: given green light, dissent within caucus. another in the broken line of promises the last half year. KINDER MORGAN: gov says has no jurisdiction now. project will proceed. election yapping it was. ICBC: nothing after 6 months but a 8% rate increase, and some bandaid very minor tweaks. expect more premium increases. medical-legal-body shops-autoplan community won’t allow changes. BC Hydro: IPP’s being paid billions per year. wait until those contracts are cancelled or we keep paying em. either way screwed. rates to go way up. price for infrastructure means wind and solar (and electric cars) dead for decades in BC. BC Liquor: Monopoly continues and select few have liquor licences now each worths millions because they will also sell pot. RIDESHARING: will not happen as long as this gov is part of any gov… Read more »
Dave
Member

I’m not convinced a thin minority can last four years, even with the best of intentions. I would put the odds at one of the NDP/Green MLAs having to resign for some reason at more than 50%. I’m not convinced Plecas will prop up the government for the whole term either.

I don’t think Weaver will do anything to take the government down. The Green supporters are more interested in PR than anything else.

Oracle
Guest
Oracle

Possible. But I just can’t see the NDP going through with a fair referendum.

bullwhip29
Guest
bullwhip29

RE: median net worth of Cdns
https://globalnews.ca/news/3902237/canada-family-net-worth-2016/

– i found it both interesting and a little disturbing that although BC apparently has the highest median net worth in the country, the percentage increase over the 4 yr period was more or less in the middle of the pack

– the $ increase in median net worth for the ave british columbian was a measly $66k during the period 2012-2016 all while real estate values and equity prices soared through the roof and the Cdn dollar lost between 20-30% in value against the greenback

– this all points to much higher debt loads and leverage taken on by locals who by many accounts have somehow only managed to tread water during the period studied.

Boombust
Guest
Boombust

That is why the Metro Vancouver is now correcting.

bullwhip29
Guest
bullwhip29
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