Friday Free-for-all! January 19th 2018

It’s 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:

Scary low inventory
Will prices flatline instead of crash?
Foreign income program rumors
Market freeze
40% of BC $200 away from not being able to pay bills
RE provides 75% of donations to Vision Vancouver
Rate hikes a big deal?

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!

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history
Guest
history

SEEK IMMEDIATE SHELTER, THIS IS NOT A DRILL

https://thetyee.ca/Opinion/2018/01/19/Dodging-Danger-Paradise/

the frightening alert was apparently put out by an employee “during a shift change.”

This is code.. can you encrypt it?

history
Guest
history

Global stock and property bubble unlikely to burst while rates remain low, Invesco says

Karen Yeung
UPDATED : Thursday, 11 Jan 2018, 11:01PM

“Global stock and property markets are showing signs of being in a bubble, but it is unlikely to burst in coming years as it is based on low interest rates and not high leverage, according to investment management company Invesco”

Olé

history
Guest
history

Invesco link

http://m.scmp.com/business/money/money-news/article/2127854/global-stock-and-property-bubble-unlikely-burst-while

Do you see the code? It is a message for the Chinese punting Canada RE.

Doomcouver
Member
Doomcouver

Sounds like propoganda by an investment management company to keep people buying investments…… Anyone who claims to know exactly when the bubble will burst is either a liar or a fool.

history
Guest
history

USA Goo Bullshit jobs exposed

Automaticearth.com

“Most staff in the departments of housing, environment, education and commerce will be staying at home on Monday.

“Half of workers in the treasury, health, defence and transportation departments will also not be going to work.

“Visa and passport processing could also be delayed, and some national monuments, including New York’s Statue of Liberty, have already been closed.

“But essential services that protect “life or human property” will continue, including national security, postal services, air traffic control, inpatient medical services, emergency outpatient medicine, disaster assistance, prisons, taxation and electricity generation.”

history
Guest
history

Are you a libertarian, or ever had libertarian sentiments? This is as good as it gets. Go down to the Liquor store and buy the finest bottle of scotch you can afford.

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

I’ve come across a saying that ALL Fiat Currencies ultimately revert back to their intrinsic value ie ZERO, (and this is ,ironically, started back in China in the 11th century.)

So..WTF is going on?

Like” history” has posted….btw Thanks…one the one hand people are waiting for the bubble to collapse under the logic heading….yet the so called rules may be different this time….the olde rules no longer apply…..we are , de facto, a globalized nation .

Then it is a whole new ball game(…..which one can deduce that Communism is or will soon triumph under the Inflitration strategy..as opposed to military force).

history
Guest
history

Im not so sure it’ll be new school communism. Proportional Representation is more likely. The Mathematics is more interesting, for one. The problem is timing, we arent ready for PR quite yet. If we can get three parties with roughly equal pop vote they’ll take a stab at taking PR to the next level. A good primer is to look at how Mathematics divides a cake three ways.

Lost....but not leased
Guest
Lost....but not leased
Clarification…I’m talking global..not local. The plague has unfortunately been spread. The poison that infests us locally is global……BC is a pawn in a MUCH bigger game. Suggest one do an a-political objective review WW1 and WW2. The precursor was the Russian Bolshevik Revolution was funded by NYC bankers…..the revolutionaries trained in New Jersey. Trotsky, living in NYC… had been intercepted in Canada yet released under political pressure. Wow…how many MILLIONS of lives lost under that quisling decision???? Germany, post Weimar…emerged from the ashes into an economy that was the envy of the world..it effectively monetized units of labour. aka ZERO FIAT CURRENCY….This was a serious threat to the bankers and the nations under their control….hence WW2. #1 Geo-political rule: ” ALL WARS ARE BANKERS WARS ” . Once one has this as an initial term of reference…its not that difficult… Read more »
history
Guest
history

I prefer to think in terms of Set Theory. We jibber jabber on this forum. Back and forth goes the commetary. We become aware of others reading our blahblah…
We are a Set. Watched by a second Set, a higher order, doing exactly what we are doing, confirming as truth, or refuting as lies. This second Set is further watched by a third Set, who talks back and forth in their own secure channel. It goes on and on…

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

Set theory..Venn diagrams..whatever..

Single digit IQ types call it racism..F$ck em..

First wave was Hong Kong…..Second wave was Mainland China..regardless these fiscally weaponized ” corporations” have been injected into the global economy. With that goes their culture which quantifiably infects all other cultures .

Diversity = our strength????? is beyond dispute a politicized vector to bend over and accept the inevitable.

To some….translation= invest in steel shorts?!?,……however given the cries of our ancestors non -negotiable..think smart dumbkopf.

Bring it on..mofos..

history
Guest
history

You sound like me 15 years ago. I had issues with authority, it consumed me. Im trying not to let this happen again. You gotta evolved.

Im sorry, but more math is coming.

Doomcouver
Member
Doomcouver

All I heard was “blah blah blah NEW NORMAL blah blah blah”

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

Yo Bro..we feel your pain….

SIDA is gone….
…….(unless JUST-in Turdeau gives him a bong and $10 million)

See Saw
Guest
See Saw

It is “not different this time”. So, get that notion out of your head.

Just me
Guest
Just me

Vancouver’s housing affordability has deteriorated more than any other major city found on Demographia’s latest list of severely unaffordable cities around the world, released Sunday.

http://vancouversun.com/news/local-news/vancouver-housing-affordability-got-bad-fast-according-to-study

That the 14th annual survey put Vancouver third on its severely unaffordable list, just behind Hong Kong in the no. 1 spot and Sydney at No. 2, may seem unremarkable after years of escalating housing prices. But the speed at which Vancouver turned so unaffordable is unparalleled, according to the survey, produced by U.S.-based Demographia and Performance Urban Planning from New Zealand.

Just me
Guest
Just me

The survey rated middle-income housing affordability using a measure called the median multiple. It captures the median house price divided by the median household income in a given market. A median multiple of 5.1, which means a home costs more than five times the average annual household income, is considered “severely unaffordable.”

Vancouver’s median multiple of 12.6 is third worst among the 92 major metropolitan markets included in the survey, and incidentally, third worst in the history of the survey.

But as recently as 2004 its median multiple was just 5.3 — still severely unaffordable, but nowhere close to its 2017 figure.

Just me
Guest
Just me

Looking a little deeper, the amount that Vancouver deteriorated in those 13 years was more than five times the amount it had deteriorated in the 30 years preceding 2004.

The survey, released by the Frontier Centre for Public Policy, noted that B.C.’s foreign buyers’ tax appeared to have “cooled the hyper-inflation at least temporarily,” but it noted that housing prices were again on the rise — up 11 per cent over the past year. That is approximately four times the increase in average earnings, according to the survey.

Several cities near Vancouver were also ranked by the survey and found to be severely unaffordable, including Victoria (8.1), Nanaimo (7,2), Chilliwack (6.8) and Kelowna (6.6).

Bestplaceonearth
Guest
Bestplaceonearth

If you quote something, put in quotation marks. Don’t steal people’s work.

Oracle
Guest
Oracle

If it’s in the papers , it must be true.

See Saw
Guest
See Saw

How “coincidental;”; that was during the period of ultra-low interest rates that were brought in to deal with the NASDAQ collapse by the Fed; we followed suit. Duh. It’s not rocket science that cheap and abundant credit is what has always fuelled this bubble.

Bear Vancouverite
Member
Bear Vancouverite
I wanted to share this with you guys: a debate between Tom Davidoff and architect Michael Geller. Davidoff is a UBC economics professor in the Sauder School of Business which some here have (wrongly) accused of being in the RE Industry’s pocket. In this debate Davidoff’s position is that: 1) The rich who own huge homes are being subsidized by the rest of us 2) We should get rid of the Home Owner’s Grant (Michael Geller brings this up too) 3) We should encourage more density in super low density areas like Point Grey 4) We should not gentrify low income areas to increase density if we can increase density in wealthy areas 5) We need to curb demand using tax policy ( Speculator’s Tax) 6) Housing needs to be in line with local incomes I’ve seen other interviews with… Read more »
Best place on meth
Member
Best place on meth

“The one aspect that he believes that I think have offended some people here is he believes “everyone wants to live here”.

Everyone wants to LAUNDER here.

Dave
Member

Davidoff is a good guy. He knows what’s up and he has some reasonable solutions that could be implemented. I think it would be a good thing if governments started to listen to him.

Just me
Guest
Just me

Former B.C. premier Christy Clark booked as featured speaker by the Ontario Real Estate Association

https://www.straight.com/news/1022166/former-bc-premier-christy-clark-booked-featured-speaker-ontario-real-estate-association

“Anybody who owns a home or a condo—a house or a condo, a townhouse, or any property—doesn’t want to see the value of that cut in half after they’ve already paid for it,” she said in March 2016 explaining her reluctance.”

Just me
Guest
Just me

On February 28, she’s scheduled to attend a conference hosted by the Ontario Real Estate Association (OREA) as a “featured speaker” for the event.

“Over the course of 6.5 years premier, Christy Clark turned BC’s economy around – transforming massive deficits in 5 consecutive balanced budgets and the lowest taxes in Canada,” OREA’s description of Clark begins.

“Her government was the first in North America to impose a tax on foreign buyers, but has always maintained that demand side solutions will not be enough to address the ‘housing crisis’,” it continues. “Premier Clark believes the solution to over heated housing markets is in growing supply.

patriotz
Member

“Over the course of 6.5 years premier, Christy Clark turned BC’s economy around – transforming massive deficits in 5 consecutive balanced budgets and the lowest taxes in Canada”

Gee that’s not speaking very well of Gordo, who was premier for the preceding 9.5 years, during most of which Christy was a talk show host. Do they think Christy became premier after an NDP government rather than the other way around? By the way, the Chief Executive Officer of OREA is Tim Hudak, immediate past leader of the Ontario PC’s who bumbled his way to two election defeats.

kabloona
Member
kabloona

Yeah, Tim Hudak……managed to snatch defeat from the jaws of Victory.

Perfect mope to lead OREA….

😀

Best place on meth
Member
Best place on meth

She balanced the budget year after year by raping ICBC which she left a drained, empty corpse.

“Black widow” would be an apt nickname for her.

As for lowering taxes, she would simply raise them somewhere else. It was nothing more than sleight of hand, lies and trickery.

patriotz
Member

Toronto foreign buyers’ tax won’t work: OREA’s Tim Hudak

Tim Hudak, CEO of the Ontario Real Estate Association, tells BNN foreign buyers are not the culprit for the rapid rise in Toronto home prices, arguing the imbalance of tight supply is to blame. He also talks about the red tape developers face in getting new homes built.

Just me
Guest
Just me

The conference runs from February 27 to March 1. A one-day pass for the event costs $129 or $99 if you purchase an “early bird” ticket. Full conference access is $599.

Best place on meth
Member
Best place on meth

$99 for a day is not bad. Do they have a special rate for snipers?

Specuskeptic
Member

I feel a gofundme campaign coming on. Shouldn’t take long.

Oracle
Guest
Oracle

T-Minus 30 days and budget will be here. Minor housing changes blah blah blah supply.

Can’t believe some of you still on your knees with your mouths open.

Maybe then you will get it through your heads that the NDP assholes lied to you.

Don’t bother replying. The dumb on here follow bull trolls. Led astray. Makes me cringe at he level of stupidity out there.

Bear Vancouverite
Member
Bear Vancouverite
Oracle: – the one who once claimed he was in the 2nd percentile for IQ (hint: this means you are dumber than 98% of all people) (hint 2: this might be the only thing you’ve ever been right about the past 5 years of posts). – the one who predicted the Foreign Buyer Tax would be rescinded right after elections – the one who predicted the B20 stress test would never be passed (they passed) – the one who said the B20 stress tests that passed were watered down (they were tougher than predicted) – the one who said the NDP and Green coalition would never form, and that it would fail immediately – the one who predicted no Liberal would agree to become Speaker (until they did) – the one pretending to be bearish or anti-speculation (hint: I don’t… Read more »
Oracle
Guest
Oracle

Ok, so how much have house prices fallen the last 5 years?

B20?? Pfft. ! Go to a credit union or get a 30 -35 yr mortgage with accelerated payments to bypass.

NDP-Green coalition? It’s obvious they lied to their voters. You call that a coalition?? SiteC, housing, mobility pricing, KM, LNG, trips to China hahaha

FBT?? Pfttt. Doesn’t apply to foreign students or anyone with a work permit you can get in a day. So essentially rescinded.

And I’m a renter. I try to get you guys organized and you guys can’t even see that on a small blog like this. How on earth you think there can ever be an organized effort. Some Bears are just too dumb.

Hence my delivery tactics. Understand now?

Specuskeptic
Member

“And I’m a renter. I try to get you guys organized and you guys can’t even see that on a small blog like this. How on earth you think there can ever be an organized effort. Some Bears are just too dumb.

Hence my delivery tactics. Understand now?”

So inspiring. People love condescension. (<- that means to talk down to people)

Where do I sign up for this movement of yours?

Specuskeptic
Member

GOLD!!!

Bestplaceonearth
Guest
Bestplaceonearth

Don’t spoil the mood. They still think the NDP is their Savior for their own failure.

Indicators
Guest
Indicators

in Vancouver..auto sales, restaruants, and travel agents are slow, unusually slow.

Housing next?

Oracle
Guest
Oracle

Just me
I think BPOM is correct. Long-term the NDP benefits from PR. Big time. The BC Libs would be the sore losers of such a system.
Long overdue.

—-
Are you guys that out to lunch?? The NDP won’t benefit from PR! They’re opportunist who wait and when a chance presents itself, they lie to get power.

PR means they can never wield power. They will do everything in their power to make it fail. They on a lottery mission to Asia right now. Imagine the $$$ flowing into overseas accounts if LNG deals are done.

Oracle
Guest
Oracle

Just like Trudeau did a 180 on it. Wait and see, only 9-11 more months.

Dave
Member
I think PR will hurt the NDP the most because it’s going to fracture and essentially neuter their party. The strength of the NDP has always been their grassroots local organizations. They were able to find a way to take diverse interests and put them under a single big tent. That’s going to evaporate under PR as single issue activists in their grass roots eventually go their own way. The Liberals will be hurt as well, but less so. Your typical centre to centre right voter just wants a good economy and a well run government. It’s much easier to keep that group unified. Further, the lack of stability in these PR governments and control by minority interests will just drive more people into their camp, but not enough to get outright majorities. Despite that, the NDP seem hell bent… Read more »
patriotz
Member

“I think PR will hurt the NDP the most because it’s going to fracture and essentially neuter their party. ”

I don’t think so. The NDP has been unusually cohesive compared to the other parties. Defeat after defeat they stayed together – compare to the Socreds who never recovered from a single defeat. Really the only split for the NDP has been the departure of the hard core environmentalists for the Green Party. Members of the NDP today may have diverse interests but there’s no inherent conflict between them – which is what produces splits. They know they will will more seats together than separately even with PR.

Dave
Member
The Socreds came back as the BC Liberal Party and ran the table for four elections. The NDP are cohesive in name because they are not just a single Provincial Party. They have a National and multi-Province presence. That keeps the brand together in the bad times. If the NDP were a one-off in BC, they would have been done in 2001. No chance you wouldn’t rebrand at that point if it was otherwise. I think there will be a split between the social activists and labour activists. I think you will see formation of new parties with those belief systems and they will slowly but surely drain support from the NDP. I doubt either will be as large as the Green defection was, but together about the same in number. The Liberals will split into a Conservative wing, which… Read more »
patriotz
Member

“I think there will be a split between the social activists and labour activists.”

To a large extent they are the same people with the same goals, and they have almost a religious belief in the necessity of working together. I will make an exception for some construction unions, but they have publicly at odds with the NDP for a long time, and they’re not going to bother setting up a new party when they get what they want from the Liberals anyway.

YVR
Guest
YVR

Most NDP voters are protest voters. The protest disappears after they NDP come to office. The NDP will be slaughtered the next election. PR or not.

patriotz
Member

“Most NDP voters are protest voters. The protest disappears after they NDP come to office. ”

In 2 out of 3 times the NDP ran for re-election, it received more votes than in the previous election. The other time of course was 2001.

Dave
Member

Part of me says I should support PR just for the entertainment and blowback factor. If it comes in, I’m going to support the most extreme party and give them money too. I hate most politicians, even the ones I vote for. So, nothing will be better to me than seeing the Christian Heritage Party (or the left equivalent) controlling the balance of power. That punishes both sides of the political spectrum.

In a lot of ways, it’s the second best thing to the None of the Above Party.

YVR
Guest
YVR

I may support PR just to make sure there is zero chance the NDP will ever rule with a majority in the future. If the NDP were not being held back by the Greens we would see very different policy today. The only thing holding back the NDP agenda for massive expansion of government workers, new unionization rules and higher taxes for working people is the Greens. If we ever get anything on housing it will be because of the Greens. NDP are pure evil.

Best place on meth
Member
Best place on meth

“NDP are pure evil”

At least now we no longer have to guess that you’re a hyper-partisan liberal for life.

YVR
Guest
YVR

We stopped guessing that you are a hyper-racist a long time ago.

Best place on meth
Member
Best place on meth

That’s funny, because the now deceased AIDS accused you of the same thing.

So you agree with him?

patriotz
Member

“Both Trump and Carol James commented on new comers or immigrants from shithole countries. One questions why they should be brought in and the other welcomes them by the thousands. ” – YVR

http://vancouvercondo.info/2018/01/no-plan-to-prohibit-foreign-buyers.html#comments

YVR
Guest
YVR

“The NDP has been unusually cohesive”

LOL the BC NDP have had 8 different leaders in the last 18 years in the same time frame the BC Liberals have had 2. That is cohesive? The Greens will take over as the new go to left of centre party in BC if PR makes it through.

patriotz
Member

“That is cohesive?”

Yes it is cohesive. The NDP stuck together notwithstanding defeats and changes of leadership. It took Gordon Campbell 2 elections to unite the right enough to win.

history
Guest
history

Proof by Contradiction

https://taskandpurpose.com/the-spartans-were-morons/

We know they werent morons because Lycurgus made money big, heavy, and awkward to transact. Just like housing today. But Hedge Fund has picked up on this. They are mobilizing new methods to value homes, drive by assesssment, employing India

https://www.wsj.com/articles/whats-a-house-worth-wall-street-turns-to-drive-by-appraisals-1516536001

southseacompany
Member
southseacompany

“Rate-hike cycle already the most severe in two decades”. Mortgage Broker News.ca

https://www.mortgagebrokernews.ca/news/ratehike-cycle-already-the-most-severe-in-two-decades-236549.aspx

“The unprecedented rise in consumer debt means the Bank of Canada’s rate-hiking cycle is already the most severe in 20 years and further increases will have far graver consequences than conventional analysis shows, Macquarie Capital Markets Canada Ltd. said.”

“Assuming just one further rate rise, the impact would be 65% to 80% as severe as the 1987 to 1990 cycle, according to Macquarie, which took into account 5-year bond yields, household debt, and home buying. Canada’s housing market slumped in the early 1990s after that rate-hike cycle and a recession.”

Doomcouver
Member
Doomcouver

Perhaps 2018 will finally be the year we start to see the Canadian over-indebtedness show up in the default rates. Up until now debt loads have been massive, and defaults low thanks to continuously rising home equity, a healthy jobs market in the housing sector, and a never-ending stream of foreign capital into our country. Between the new OSFI rules and the BoC raising rates regularly however, it’s becoming a much more toxic environment for borrowers now.

history
Guest
history

Over indebtness shows up in Insolvency stats, which are high, and have exploded in Alberta since the Oil Peak.

But i havent heard much from the news media about Insolvency. Probably because its like talking about suicide. Or more like Walking Dead.

southseacompany
Member
southseacompany

“Central banks are complicit in the ‘greed is good’ culture. It’s time to put the many before the few”, South China Morning Post

http://www.scmp.com/business/article/2129934/central-banks-are-complicit-greed-good-culture-its-time-put-many-few

“The rich and privileged have been the biggest beneficiaries of zero interest rates and cheap money since 2008. It is time for a radical change”

history
Guest
history

It’s true, they raided the commonwealth, packaged into bonds, paid off the snivellers and fascists.. The rest of us get parking spots down by the river.

Oracle
Guest
Oracle

This from twitter: NDP providing freee first class airplane tickets to LNG insiders and real estate developers. What a trip!! Wait…let’s bury our heads on the sand and make believe this ain’t happening.

——-

Fazil Mihlar, the ex Fraser Institute head & oil shill whom Christy made deputy minister for climate (!), has not only not been removed from that DM post by Horgan, he is now accompanying @jjhorgan on his ill-fated #LNG trip to China. NDP, what are you doing? #bcpoli #SiteC

history
Guest
history

LNG is sounding like the latest mega project for immigration scheme.

Malaysia appears to be the first chess move. Were they the Thesis customer, the Asia everyone can live with?

China now becomes the Anti-Thesis customer.

Towards the end India and Pakistan become the Outcome, the true intention of the project, which isnt really about Exporting LNG but bringing in 10 million fresh fascist meat for the Welfare landlord grinder machine

history
Guest
history

Enjoy your Shutdown day watching a little football? Foles was shining bright.

“Nicholas Edward Foles (born January 20, 1989) is an American football quarterback for the Philadelphia Eagles of the National Football League (NFL).”

Nick Foles is a number 3 personality having a number 5 year, just like me.

history
Guest
history

https://www.canadianmortgagetrends.com/2018/01/tango-financial-latest-mega-brokerage/

A story on Mortgage Lending Consolidation. I guess Paragon, Compass and Premier is a bit of a mouthful.

CMT: How many mortgage agents did all three have combined in 2017?

JH: “We have a total of 306 agents in the organization.”

history
Guest
history

306 agents

Factor this to 17 …

Amazing.. JH gonna cut 289 mortgage agents… thats what i would do.

history
Guest
history

https://thetyee.ca/News/2018/01/22/Chinese-Firm-Site-C/

Site C doesnt get restarted unless A handoff occurs. AECON is out, and the China CCC Is in. And only recently did Carillion go Insolvent. New Age fascism seems to have taken a 1/4 turn from Europe, supplanted itself right smack gob in NA.

In the old days they built railways to own the right of way land. Development of this land produced our Pump and Dump mindset. It’s shifted to Fixed projects now, and the transport IN of the immigrant rentier classes

paulb
Member

New
263
Price Change
23
Sold
123
TI:7276

Readers, if you ever want info on sales or listing activity in your hood or area of interest shoot me an email. I send many users weekly updates each Fridays to help keep them in the loop. No question to big or small. pboenisch@sothebysrealty.ca http://www.clivestevepaul.com

Specuskeptic
Member

What are the odds on hitting 8K inventory by the end of the month? (Before the hootin and howlin’ starts, I’m fully aware that 8K inventory in January is very much on the lower end of normal…)

See Saw
Guest
See Saw

Expect a LOT of increased inventories as this bubble finally pops. Just the usual end to any bubble. Big mess ahead for a lot of people. Count on it.

Best place on meth
Member
Best place on meth

I give it a 1% chance of happening.

Net gain of 100+ each day? We’re not there yet.

kabloona
Member
kabloona
Yuck!!!!! “Listing price of run-down Trinity Bellwoods house sparks social-media uproar – Globe and Mail” 😀 https://www.theglobeandmail.com/real-estate/toronto/run-down-trinity-bellwoods-houses-listing-price-sparks-social-media-uproar/article37632791/ 😉 “A run-down rowhouse in Trinity Bellwoods has become a minor social media sensation in Toronto, thanks to a list price of almost $750,000 that highlights the city’s sky-high pricing for even the most distressed properties. Originally priced at $679,000, the “builder’s delight” at 15 Rebecca St. (first reported in The Globe and Mail last month) attracted four bids in its offering period, though none of the potential buyers came close to the seller’s target of $900,000. The house has now been re-listed at $749,900, and while it has a few new bids, offers remain open in hopes of fetching a higher price. Selling agent Al Sinclair of Re/Max Hallmark Realty Ltd., has a message for bloggers and media looking to make a… Read more »
Screwed
Guest
Screwed

Garth covered it already.

kabloona
Member
kabloona

Don’t read GT anymore so I missed that…..(heh-heh!)

😉

Best place on meth
Member
Best place on meth

Ooh, you’re missing out.

Today he posted a picture a some old man’s junk on a table.

Actually, that might have been his own.

See Saw
Guest
See Saw

People can “ask” whatever they like. What they “get” is a different matter.

kabloona
Member
kabloona

In case you missed it….

😉

“Finance officials fretted over foreign ownership data as housing heated up, documents show – BNN”

https://www.bnn.ca/finance-officials-fretted-over-foreign-ownership-data-as-housing-heated-up-documents-show-1.973055#_gus&_gucid=&_gup=twitter&_gsc=qJw4NjL

“Senior Finance officials grappling with how to best track foreign activity as the Vancouver housing market kicked into overdrive placed little trust in real estate insiders to tell the true story about foreign buyers, according to documents obtained by BNN.

And that mistrust also tainted the Finance Department’s view of foreign ownership data being collected by the country’s housing agency, Canada Mortgage and Housing Corporation.

The chief concern, outlined in ministerial briefing notes obtained under the Access to Information Act, was the potential reluctance of real estate professionals who did business with foreign buyers to even respond to questions on the issue…”

Best place on meth
Member
Best place on meth

But…..we’re supposed to trust the data as being accurate, say the HAM deniers.

Obviously the reason detached soared 30% in 2015 was because of ultra low interest rates, which had fallen a whopping 0.10% from the year prior.

It had nothing to do with Xinpig’s corruption crackdown.

Nothing at all.

See Saw
Guest
See Saw

Old News. Really old News. Note the word, “fretted”? Past tense.

Laibach
Member
Laibach

All locals, right… as usual douchebag used to say.

Just me
Guest
Just me

It is uncanny how the stuff we discuss, and dissect, on this blog gets proven right. Eventually, and often with a long lag, both the public and the press catch up on what is going on. Kudos to those who resiliently defended the truth, while being ridiculed and vilified.

In this case, it took a few years for people to catch on. But I believe most Metro Vancouver residents now fully understand the importance that money from Mainland China plays in our local RE market. And they are now demanding change. Political parties who refuse to stop money flows from China will pay a heavy price in Metro Vancouver.

Shut It Down Already
Guest
Shut It Down Already

You think you’ve been “proven right” and “vilified” because they understood that asking realtors to participate in a survey was a poor means of gathering data? You’re delusional.

Regardless of who is collecting the data, be it StatsCan, CHMC, or the province, the outcomes and conclusions are always consistent with a) each other, and b) corroborating evidence hat clearly shows how indebted Canadians are due to RE purchases they can’t afford. So why do you think this is, genius?

Yikes
Guest
Yikes

“Senior Finance officials grappling with how to best track foreign activity as the Vancouver housing market kicked into overdrive placed little trust in real estate insiders to tell the true story about foreign buyers”

“little trust…” AKA: LIARS.

Just me
Guest
Just me

Why. The race baiter is back. Expect more drama posts, accusing everyone and everything.

Earth is flat after all.

Shut It Down Already
Guest
Shut It Down Already

The flat earther is the one who denies evidence. That’s you. Because your stance is not a rational one, but grounded in prejudice and jealousy.

Bubble
Guest
Bubble

Can this owner get his million dollar tax-free gain?

6088 Newton Wynd, Vancouver, BC, V6T 1H9
Listed
2017-01-10 : $12,500,000
2017-02-21 : $11,500,000
2017-03-22 : $10,800,000
Sold on11-Apr-2017 $9,000,000
Listed
2017-06-27 : $9,980,000
2018-01-18 : $10,690,000

Best place on meth
Member
Best place on meth

Speculators targeting Richmond farmland threaten local food supply

https://thinkpol.ca/2018/01/22/speculators-targeting-richmond-farmland-threaten-local-food-supply/

Speculative development is raising Richmond’s farmland prices and slowing down local food production says a grassroot organization fighting against this issue.

Laura Gillanders, a Richmond resident and coordinator of FarmWatch, an organization that is focused on preserving Richmond’s farmland and curbing speculative development, said that one by one farmland is being converted into mega mansions. The most recent example is a four-acre blueberry farm on Number 7 road that was purchased last year for $2 million dollars and is now being listed for $7.7 million dollars. To date, the property has been relisted four times and received a permit to build a mansion.

Laibach
Member
Laibach

Shocking video shows moment a huge swarm of locusts attacks farms and devastates crops in Russia as officials declare a state of emergency.

http://www.dailymail.co.uk/news/article-3616707/Shocking-video-shows-moment-huge-swarm-locusts-attacks-farms-devastates-crops-Russia-officials-declare-state-emergency.html

Yikes
Guest
Yikes

“Local officials say it’s the worst locust swarm the area has seen in 30 years. ”

just like in Vancouver.

YVR
Guest
YVR

March 28, 2017: NDP would expand B.C.’s foreign buyer tax

If you think the BC Liberals got tough on foreign buyers last year, get ready for an even rougher ride for foreign nationals buying B.C. homes if the BC NDP wins the May 9 provincial election.

https://www.biv.com/article/2017/3/ndp-would-expand-bcs-foreign-buyer-tax/

YVR
Guest
YVR

9 months later:

“Premier John Horgan likes to remind people about his Irish roots, something he did again this week when asked if B.C. will ban foreign real-estate purchases.”

“I’m a child of an immigrant — I don’t think that’s the way we should proceed,” Horgan said. “British Columbia is the gateway to Canada, and I don’t believe we should be curbing people from coming here.”

http://theprovince.com/news/bc-politics/mike-smyth-horgan-flunks-foreign-real-estate-file

YVR
Guest
YVR

Better lean Mandarin Meth:

B.C.’s premier is heading to China…John Horgan says the trip is aimed at expanding the province’s economic ties

http://www.cbc.ca/news/canada/british-columbia/premier-john-horgan-heads-to-asia-on-trade-mission-1.4478137

Best place on meth
Member
Best place on meth

Is he going there to sell real estate like Kristy Kunt did?

YVR
Guest
YVR

He is going there to bend over and take what ever they will give him.

history
Guest
history

Unlikely. Money for punting RE is cool, locust labourers isnt. Horgans star people and Xi starhans can go over the finer details, but it’s written in the heavens… and that Fast Ferry comet has focused its Eye on us, so no screw ups … Have money in the bank to live here please.. thats what Horgans gonna tell Wong and Chow.

history
Guest
history

Horgan most likely got briefed by the star scribes, who told him it’s generally cool to allow financial tourism and financial immigration, and not cool to allow labour immigration. Some of that cross border movement is best understood by studying the Trump fence.

The stress or back test occurs this year. Can these speculators fund their life here? If not, they are breaking the deal.

YVR
Guest
YVR

9 months later:

“As part of … British Columbians are proud to welcome thousands of newcomers each year who help strengthen our province.” – Carol James

Best place on meth
Member
Best place on meth

Turd has arrived in Davos, stylish man-bag in hand.

He’s there to convince the world’s power brokers to empower women, who are currently powerless and still cooking all of our meals for us.

No word what’s in the bag but Vegas odds have pink pu$$y hats in the lead at 3:2 odds.

YVR
Guest
YVR

18 months ago you were fawning over the guy? What happened. You don’t like his new sock colour?

Best place on meth
Member
Best place on meth

Liar

history
Guest
history

Jan 23 to 26.. ok business first, pleasure and blackmail pictures later…

Will there be an orgy at the Full Moon eclipse January 31? If so, is he assigned to the Androgynous room?

YVR
Guest
YVR

Here is the NDP solution to housing. Give developers financing at a discount. They are passing the saving on to buyers. LOL

B.C. Housing will provide low-interest financing for Chard Development’s Vivid at the Yates condos in exchange for the sale of below-market priced condos to buyers with incomes under $150,000 who agree to live in the units for two years.

http://www.cbc.ca/news/canada/british-columbia/victoria-condos-discount-owner-occupied-bc-housing-1.4364433

YVR
Guest
YVR

Good thing all the corruption is out of BC politics. Right in Horgan’s riding.

B.C. Housing is a Crown corporation which develops, manages and administers subsidized housing across the province, with the stated objective of supporting those in greatest need of affordable housing. The developer’s partnership with B.C. Housing means the Crown corp will provide 100 per cent of construction financing for the building at a lower interest rate than what’s commercially available.

history
Guest
history

Good post. I’ve got decent construction experience and this is the kind of housing I’m into building.

patriotz
Member

“Right in Horgan’s riding”. Horgan represents Langford where he lives, not a Victoria city riding. This from the guy who’s always accusing the NDP of lying.

“Chard Development began working with BC Housing a year ago under the former BC Liberal government”, i.e. in 2016. Don’t know when the signoff happened. 2017 article:

http://www.westerninvestor.com/news/british-columbia/discounted-victoria-condos-come-with-a-catch-1.23056061

Dave
Member

Good thing we are subsidizing people with incomes of $150,000. WTF??? I thought the NDP were the party of the people.

Doomcouver
Member
Doomcouver

They are. Party of the RICH people. I’m personally ready to write the NDP off completely depending on what the next budget looks like. They talked a good talk before the election but very little in the form of action so far. The Green vote is seeming more and more sensical unfortunately… the best of 3 evils perhaps…

Bag it and tag it
Member
Bag it and tag it

Much less than $150K and they wouldn’t qualify for a mortgage…and besides, they’ve got containers for those below that….

southseacompany
Member
southseacompany

“Interest rate hikes create FOMO factor, boosting condo sales”, Vancouver Courier

http://www.vancourier.com/real-estate/interest-rate-hikes-create-fomo-factor-boosting-condo-sales-1.23151473

Yikes
Guest
Yikes

“Those buyers are more likely to be entry-level, and they are already in hock up to their eyebrows. They are the ones who are packing record-high debt and would already have problems qualifying for mortgages.”

Doomcouver
Member
Doomcouver

Condo buyers are going to bear the brunt of the housing crash. There’s no floor on how worthless condos can become in a debt implosion. Sadly, locals are even more moronic than foreign investors in their buying habits.