Friday Free-for-all! April 6th 2018

It’s the end of another fine week and that means it’s time for another free-for-all! This is our regular end of the week news round up and open topic discussion thread, here are a few recent links to kick off the chat:

Toronto sees big price drop
Beneficial ownership database
Speculation tax is essential
Canada China tax info exchange
Avoid investing in RE / Mortgages
Record high payments with low interest rates 

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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Hyper-mega-Bull
Member
Hyper-mega-Bull

America vs. China in South China Sea

Meanwhile, the European Union’s head of security policy, Francois Rivasseau, told The Australian Financial Review that the possibility of European navies conducting “freedom of navigation” patrols in the South China Sea could not be ruled out in the future.

The US, Japan, Australia and India are promoting cooperation through the Quadrilateral Security Dialogue, and Britain is reportedly considering sending a warship to the region as well.

https://www.yahoo.com/news/america-vs-china-south-china-132800878.html

Oracle
Guest
Oracle

We are at the first stages of “war” with a China. Financial war is how it begins.

I support and back the USA 100%.

See Saw
Guest
See Saw

Get lost. What has the “good old USA” done for you lately?

backwardsevolution
Guest
backwardsevolution

We are their biggest trading partner, and there isn’t much of a trade imbalance between the two countries.

Whister or Bust?
Guest
Whister or Bust?

Its raised you and your countrymen out of poverty. You should be kissing their feet.

See Saw
Guest
See Saw

Er, not quite, dunce. We have always been perfectly capable of doing that on our own. Ever travelled much in the US? You want poverty? You got it.

Whistler or bust?
Guest
Whistler or bust?

Without the US you would all still be riding bikes ala Great Leap Forward. You also wouldn’t have all the technology you stole from them.

Stop shifting the goal posts.

Best place on meth
Member
Best place on meth

What has the “good old USA” done for you lately?

Kept us from being taken over by the motherfucking chinese, you moron.

bestplaceonearth
Guest
bestplaceonearth

hmm, let see, the keyboard you type on, the phone you use to talk to your mama, the toothbrush you use every morning, the peanut butter you spread on your toast, the space heater you use to warm yourself in the mama’s dark wet basement etc…I hope you knows where most of those goods originate right?

Diadora
Guest
Diadora

China was a communist state that evolved into a dictatorship and is building an army and weapons to counter the free world. It is because of China that North Korea and Pakistan now have nuclear weapons. We have to realized China is the biggest threat to our way of life as we know it.

KickThemOut
Member
KickThemOut

EU has a navy? Really? Those mainland Europeans are so cuddled and whimpy that their men can’t even defend their wives & daughters, and gov’t so focused on “rights” and running huge social programs with huge deficits, where do they find money for a navy?! US and Japan is where the action is at right now. Australia is turning the cash from exports to China to a true world class navy ASAP, and India getting its act together now. Only UK has any semblance of a navy left and those are all past their shelf life warships from the 80s. Don’t make me laugh about EU navies…

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

China a threat?

Chinese military will require Chinese drivers..

……Checkmate

Oracle
Guest
Oracle
Diadora
Guest
Diadora

It just got tougher to take Quebec’s back door into Vancouver and Toronto real estate.
“Quebec is clamping down on ‘intent to reside.’”
https://globalnews.ca/news/4116049/quebec-immigrant-investor-program-changes/

KickThemOut
Member
KickThemOut

You mean Quebec wants to extract another $500K each to finance their chronic deficits from the immigrants.

backwardsevolution
Guest
backwardsevolution

Yes, and then send them our way when we don’t want them. Call your Member of Parliament and complain.

Bag it and tag it
Member
Bag it and tag it

It would be so simple to solve this issue if they would just create a rule stating that if after 5 years if they reside or own property outside of Quebec they forfeit the $1.2mil…

Just me
Guest
Just me

Yes. This simple rule would take care of the problem. Sadly, political will is lacking. And Trudeau et al. have no intention to pressure Quebec on this. I am really disappointed in our Federal government on this issue.

KickThemOut
Member
KickThemOut

You are obviously not a Canadian! If you were, you would know that in Quebec, enforcing this rule would cost $1.5M at least.

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

Time to re-introduce the Head Tax…

………make it retroactive by 200 years.

Bag it and tag it
Member
Bag it and tag it

The head tax was actually not racist, as most people don’t realize. It was implemented because most if not all Chinese at the time evaded taxes, so the head tax was a way to get some dough from them. Sound familiar? (spec tax).

Bag it and tag it
Member
Bag it and tag it

In fact, it was the Chinese that were considered racist at the time since they thought so little of their new society that they did not want to contribute by paying their taxes.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

And as we know the way people thought in the past was always appropriate.

backwardsevolution
Guest
backwardsevolution

In this case the past is the same as the present. Didn’t pay taxes then and they don’t pay taxes now. Maybe it’s in the DNA somewhere.

Selective Memory
Guest
Selective Memory

What taxes did they evade? There was no income tax at the time. Did they evade property taxes (by cleverly not owning property?)

An honest critique of the real estate bubble doesn’t require rewriting history.

patriotz
Member

“What taxes did they evade?”

They didn’t evade taxes in the legal meaning (i.e. not paying taxes they were legally required to pay). The issue was most of them took the money back to China. This deprived the government of tax revenue since most revenue came from excise taxes (liquor, etc.) and customs duties which would be paid otherwise.

Best place on meth
Member
Best place on meth

Time to re-introduce internment camps.

This time for the hundreds of thousands of spies, tax-evaders, immigrant fraudsters, money launderers, thieves and other vermin attacking our country who are too numerous to house in our prisons.

bestplaceonearth
Guest
bestplaceonearth

Right , might as well throw in the freeloaders too.

Best place on meth
Member
Best place on meth

Ok, we’ll come round you up as well if that’s the way you feel.

Oh, and the traitors. Can’t forget those filthy traitors.

backwardsevolution
Guest
backwardsevolution
“The program once required applicants to hold net assets of $1.6 million and make an interest-free investment of $800,000 that would be returned to them after five years. Those requirements have been tweaked, according to the Gazette Officielle du Quebec, which announces new laws and regulations. The Gazette states that applicants must now have net worth of $2 million and make an interest-free investment of $1.2 million — which is still returned to them five years later.” There must be a line-up to get in, so they’re upping the price because they can. Getting the last dregs of the wealthy Chinese. Call your Member of Parliament and complain about the program and the resulting increase in property prices. Tell him to cut immigration numbers at the same time. If Quebec wants these wealthy Chinese, tell them to keep them! We… Read more »
Name
Guest
Name

Canada adds 32,300 jobs, all full time, as unemployment rate stays at record low 5.8%

http://www.news1130.com/2018/04/06/canada-jobs-unemployement/

“the data also reveal that 19,600 of the new employee positions were created in the public sector. By comparison, the number of private-sector workers declined by 7,000.”

that is a bit concerning but hey jobs are jobs right? meanwhile interest rates stay in the ditch.

Specuskeptic
Member

This does bode well for rising rates – in the ditch as they may be at the moment…

Dave
Member

This isn’t the time to be staffing up on government employees. We should be pushing people out because the employment market will take them. We’re running a deficit at a time of record low unemployment. World class stupid.

Bag it and tag it
Member
Bag it and tag it

Continued emergency low interest rates at a time of record low unemployment…stupid

Just me
Guest
Just me

The deficit doesn’t bother me too much. It is not massive and the economy is growing even faster, so debt/gdp is going down.
But keeping interest rates at this unnaturally low level when unemployment is at its historical low is, in my view, completely wrong and serves only the ulterior career motives of our central bankers.

C.Junta
Guest
C.Junta

“Continued emergency low interest rates at a time of record low unemployment…stupid”

Agreed. But those are not “emergency” rates, those are new “normal”. Just ask any first-time buyer who bought after 2008.

backwardsevolution
Guest
backwardsevolution

Mr. Dress-up is just ensuring there’s a steady stream of new buyers for his real estate buddies. “You have a government job? How much would you like to borrow?” versus “You work at McDonald’s? Sorry, no can do.”

Of course the government shouldn’t be taking on new employees, but there is a method to their madness: votes, paying off your campaign contributors, and propping up the real estate market.

Sickening.

C.Junta
Guest
C.Junta

“that is a bit concerning but hey jobs are jobs right? meanwhile interest rates stay in the ditch”
“This does bode well for rising rates – in the ditch as they may be at the moment”

Huh, I wish. I opened Excel and quickly crunched monthly numbers for US fed rate, Can central bank rate and Canadian unemployment for 1960-2017. Funny: US/CAN rate correlation is 0.92 (very high) and Unemployment/Rate correlation for Canada is 0.29 (almost non-existent).

What I want to say is: comparing to unemployment, Fed rate is a much better predictor for Canada central bank rates. All eyes on the Fed. Who cares about those insignificant unemployment numbers…

Strata Hacker
Guest
Strata Hacker

It is true what you say about the Fed and our rates. And for the Fed one of the most important inputs is the 10y Tbill rate. When the stock market peaked in early Feb the 10y peaked at 2.95% but couldn’t break 3%. It has been climbing down since.

Looking at the 10 year T bill, higher rates are far from certain at the moment. And in fact have been backtracking.

In fact we were getting close to the yield curve inversion.

KickThemOut
Member
KickThemOut

10Y TBill…hahahahaha….fucking moronic bears don’t even know the basic terms….I’m sure this kind of ignorance will be great in generating those 10% annual returns from your financial investments.

Bear Vancouverite
Member
Active Member
Bear Vancouverite

I hate to embarrass you, but Strata Hacker is a RE bull and is on your team. I’m glad you agree and point out that bulls like Strata Hacker are ignorant though.

Specuskeptic
Member

I don’t hate that you embarrass him…. though he seems to do a pretty good job of it all by himself.

Strata Hacker
Guest
Strata Hacker

That’s pretty rich coming from a loser named for a septic tank.

Strata Hacker
Guest
Strata Hacker

Oh yes I misspoke and said Tbill when I meant T Note.

Way to make a mountain out of a molehill.

backwardsevolution
Guest
backwardsevolution

Strata Hacker – it ratchets up, it ratchets down…..it’s not done ratcheting.

KickThemOut
Member
KickThemOut

The March gains were driven by a surge in full-time work. The labour-market survey showed the workforce added 68,300 full-time positions, while the number of part-time jobs decreased by 35,900.

However, the data also reveal that 19,600 of the new employee positions were created in the public sector. By comparison, the number of private-sector workers declined by 7,000.
————————————————————————–
Numbers doesn’t seem to add up.

68300 new full time – 19600 from public sector
but private sector declined by 7000?

patriotz
Member

“Canada adds 32,300 jobs… the data also reveal that 19,600 of the new employee positions were created in the public sector. By comparison, the number of private-sector workers declined by 7,000.”

Looks like Canada added 12,600 jobs to me. The article makes no attempt to explain the apparent discrepancy in the numbers.

Bag it and tag it
Member
Bag it and tag it

Maybe the 32K is not a net number, but simply the new jobs, not taking into accounts jobs lost…

Diadora
Guest
Diadora

Investors accounted for almost half–of all buyers who took possession of newly constructed condos in Greater Toronto Area in 2017.
At least 44 per cent of those investors with a mortgage are currently in a negative cash flow position.
34.5 per cent have a shortfall of more than $1,000 each month. while a further 20 per cent are short between $500 and $1,000 month.
https://economics.cibccm.com/economicsweb/cds?ID=4914&TYPE=EC_PDF

Specuskeptic
Member

And yet, Garth is implying that millenials will fill that gap should investors flee. I tend to disagree.

backwardsevolution
Guest
backwardsevolution

Garth wants to unload his properties, so I wouldn’t trust anything he says for a long time, if ever again. He has duped a lot of people. No one should even read his site.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Yes, Garth spends his precious time writing fresh material every day because he’s too cheap to pay for a decent realtor. Dumbass.

Just me
Guest
Just me

“ Garth spends his precious time writing fresh material every day.”

Sure. Fresh material that it is regularly wrong and misleading.

Best place on meth
Member
Best place on meth

Fresh steaming dogshit is what he provides.

backwardsevolution
Guest
backwardsevolution

Who said anything about him being too cheap to hire a realtor. His places aren’t finished being renovated.

He’s writing fresh material in order to sway people’s opinions, but people are seeing right through his spiel. He’s flipping and flopping all over the place.

You make no sense.

YVR
Guest
YVR

According to this Garth has flipped 50 properties over the last few years. His current flip has been for sale for nearly a year and has been reduced by $250K already.

Turner, you may be surprised to learn, is also a self-professed real estate junkie who over the years has bought and sold—very profitably—about 50 commercial and residential properties; he moved four in 2011 alone. And considering this house sold around $1.5 and closed in December 2016 only to undergo a large gut and rebuild in 2016 that took 7 months to complete, this is a flip and one more property to add to the 50 properties mentioned in 2012.

https://themash.ca/realestategossip/2017/6/real-estate-doomsdayer-garth-turner-lists-caledon-property

backwardsevolution
Guest
backwardsevolution

Flipped 50 properties? If correct, he’s been a busy man and also a man who I believe has been grossly misleading his readers. Thanks for posting that, YVR.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

“Most of the agents reported that international buyers represented less than 10% of their clients. All agreed that local immigrants represent a signi cant share of investors. Many of the agents’ investor clients are repeat buyers and some hold multiple units as rentals. In general, investors are between the ages of 40 and 60 with discretionary wealth, and often approach condo investing as part of their retirement savings strategy or as a plan to help their children get into the market.”

No shit?

Just me
Guest
Just me

“Most of the agents reported….”

I lost interest after the first line. Perhaps you also believe the press releases of the realtors ‘ associations. Ask them what the solution is….

patriotz
Member

“Perhaps you also believe the press releases of the realtors ‘ associations. ”

Ontario has a FBT and the government publishes figures for foreign buyers in the GTA, which account for less than 10% of buyers.

Whister or Bust?
Guest
Whister or Bust?

So what? These numbers have been in effect in Vancouver for years.

stagnate
Guest
stagnate

sure there’s a lot of millenial demand, but probably not at these prices. the market is in the car on the way to the barber

Shut It Down Already (original)
Guest
Shut It Down Already (original)

There won’t be demand at lower prices if the trend is clearly downward.

Just me
Guest
Just me

People keep catching falling knives all the way to the bottom. Greed is a powerful force.

KickThemOut
Member
KickThemOut

China’s pollution reaches apocalyptic levels: https://www.youtube.com/watch?v=OwOBRH56Ic0
And this is 3 years ago! China is probably facing complete ecological and environmental collapse within 5 years, at which time it would be lucky to support maybe 100 to 200 million people if they are lucky.

Is it any wonder that anyone who is able and capable is leaving China in record numbers and coming to places like Australia, New Zealand, Canada, and even Africa? Even a freaking desert and often war zone is better! Think Vancouver RE is going to collapse before China environment collapses into Max Mad zone?

Best place on meth
Member
Best place on meth

100 to 200 million people?

That’s still 100 to 200 million people too many.

Name
Guest
Name

CHICAGO (Reuters) – The Federal Reserve will likely need to keep raising U.S. interest rates to keep inflation under control, Fed Chairman Jerome Powell said.

https://www.reuters.com/article/us-usa-fed-powell/feds-powell-points-to-rate-hikes-uncertainty-on-trade-tensions-idUSKCN1HD2H6

as goes the US so goes Canada …

Whister or Bust?
Guest
Whister or Bust?

I would like to believe that but I think Poloz has no idea what he’s doing. I think he is constantly searching for reasons to not raise rates in Canada.

I think there is as much of a chance he cuts rates before he raises them.

Just me
Guest
Just me

The pressure to raise Canadian rates on Poloz is growing by the day. Although I also have doubts about him and Wilkins: it seems to me that they are actively looking for excuses to justify sitting on the sidelines and waiting longer to raise rates.
Even David Dodge (our former governor) is discreetly making himself heard on this.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Where’s the pressure? Inflation does not warrant an increase.

Specuskeptic
Member

If rates don’t go up, $7 cauliflower (again) is not far behind. The rate rise can be stalled if oil goes up and keeps the CDN$ somewhat afloat. Poloz is between a rock and a hard place. The bond market may decide for him…

backwardsevolution
Guest
backwardsevolution

And I don’t see oil going up because there is a glut of it. Many countries have serious economic problems, and they’re selling oil at almost any price, just to get some dollars coming through the door.

ostritch
Member
ostritch

hahaha. that’s the opposite of what just happened.

Just me
Guest
Just me

Asset inflation does. But Poloz loves that.

More importantly, the mandate of the BoC includes financial stability. And keeping rates so low for much longer would introduce even bigger systemic risk as households would sink even deeper into debt.

YVR
Guest
YVR

“Where’s the pressure? Inflation does not warrant an increase.”

Canadian rates will follow the US. The pressure is the CAD will plummet if rates do not follow the US up. If the CAD plummets it will create inflation with many goods priced in USD. Of course this assumes the US raises rates. If the US does not raise rates there is no way Canada does.

backwardsevolution
Guest
backwardsevolution

The U.S. is going to raise rates.

backwardsevolution
Guest
backwardsevolution

Poloz won’t have a choice in the matter.

Best place on meth
Member
Best place on meth

The Fed is regularly raising not so much to keep inflation from becoming a problem, it’s raising mostly because large pension funds are going under from poor returns.

Canada is no different, except that our central bank head is a fucking moron who should be flipping burgers for a living.

Just me
Guest
Just me

Poloz is not the sharpest knife in the drawer. That much is clear by now. But he was Harper’s candidate.

backwardsevolution
Guest
backwardsevolution

Poloz is doing what he’s instructed to do, just like Mr. Dress-up. Those two are not running things.

backwardsevolution
Guest
backwardsevolution

You can see it in the way that Trudeau, when asked a question, stops and thinks about the lines he’s supposed to parrot back, and most of the time he can’t even get those right. He has no idea what he’s doing. He’s being coached all the way and told what policies to enact.

oopswediditagain
Guest
oopswediditagain

It seems that Canada’s unique accounting system just doesn’t cut it as the world’s standardized reporting highlights the housing markets big lie.

https://betterdwelling.com/impaired-mortgages-soar-at-canadian-banks-as-standardized-reporting-hits/

“The International Accounting Standards Board (IASB) released a new standard, improving accounting transparency in a few key areas. The standard, known as IFRS-9, became mandatory for members starting January 2018.”

“Dollar volumes of impaired residential mortgages spiked in the first quarter of 2018, at the Big Six Canadian banks. National Bank of Canada (NBC), the smallest of the Six, has seen impaired dollar volume jump 111.84% compared to the same quarter last year. CIBC came in second, with an increase of 29.89% to the same quarter last year. TD was the only Big Six that saw the dollar volume of impairment fall.”

backwardsevolution
Guest
backwardsevolution
Transparency that should have been there all along. “You’ve probably heard Canadian banks have some of the lowest impaired mortgage rates in the world? That’s because we used our own special method to account for them. In Canada, loans securitized by a private insurance company, aren’t considered impaired until 180 days of non-payment. Loans securitized by the government backed Canada Housing and Mortgage Corporation (CMHC), aren’t considered impaired until 365 days of non-payment. That’s a lot of time to screw up on payments, list your home, and even make a profit during a bull market. A large part of why impaired mortgage dollar volumes appear lower than they are. Under IFRS-9, that changes. All loans, except for credit cards, are automatically considered impaired after 90 days of non-payment. That includes CMHC’s obscenely long 365 day window, for accounting purposes at… Read more »
Lost...but not Leased
Guest
Lost...but not Leased

Interesting….

Wonder if this legally dovetails into delinquency re Property Taxes and Tax Sales.

Apparently it is quite a long arduous process to acquire such a property with very low success rates.

stagnate
Guest
stagnate

interest rates would stay low due to deflationary pressures but the Trump China thing could have significant impacts to the bond markets. basically China has been the big player in monetizing western debt but looks like the economic order could be in for a shake up.

Dave
Member

China won’t sell US debt. That will increase their dollar, which will further decrease exports. It will also devalue the bonds they don’t sell. If the US wanted, they could expand the Fed balance sheet and move it all there without affecting the market. It’s a hollow bluff.

Trump has the better hand to play and he knows it. China exports far more than they import from the US.

China will do a deal because they have no choice. If they stop importing food, they have a revolution. If the US stops import junk, not much happens other than a little consumer anger. They have far more to lose.

Politically, it’s more challenging for the US to navigate it all though.

kabloona
Member
kabloona
“Trump’s push for $100B in new tariffs may help make his rival the world’s biggest economy” China’s trade war advantage is a huge and increasingly sophisticated economy: Don Pittis http://www.cbc.ca/news/business/trade-war-china-u-s-1.4606367 “As U.S. President Donald Trump threatens what many say is an unnecessary trade war with China, he may be creating an even more dangerous and powerful trade competitor. Rather than cowing China into submission with trade threats, experts who study international trade say, Trump may instead be hastening the day when the Asian giant supersedes the United States as the world’s most influential economy… ….For the U.S. it’s the massive amount of consumer goods — the clothing, the shoes, the household electronics, the computers and the phones.” Wang says the sheer volume of imports of inexpensive Chinese goods purchased by lower-class and poor Americans makes it almost impossible for the… Read more »
backwardsevolution
Guest
backwardsevolution

Trump has the only hand. If the Chinese don’t go along, one guy suggested telling China this: “We’re canceling $500 billion of treasuries for the IP theft. Do any more of it, and we burn the rest.”

Trump doesn’t blame China. He said they were only acting in their best interest. Trump blames Clinton, Bush and Obama for allowing it to get to this point.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Yes, having global investors consider US debt to be worthless is sure to help……

backwardsevolution
Guest
backwardsevolution

Global investors would probably be clapping. Everybody knows China has stolen IP and technology from the West. They’d still be back in the Stone Age without it. The word “copyright” in China means “a right to copy”. That really is what they do best – copy.

Now they are going to pay a price. You don’t get something for nothing forever.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

They’d not be clapping. They’d never touch US treasuries again.

It’s funny you mention copyright when Just Me steals entire articles, too.

backwardsevolution
Guest
backwardsevolution

The $500 billion for the IP and technology theft would be understood and applauded by everyone who knows what a thief China has been.

The rest of the Treasuries could be set aside until the trade imbalance corrects.

This one-sided affair was fun while it lasted, wasn’t it? No more.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

It’ll never happen. It’s only ZeroHedge-reading morons who fantasize about it.

backwardsevolution
Guest
backwardsevolution

I wouldn’t put it past Trump. Like he said, it’s nothing personal, just evening things up.

Look at how Xi treats people who don’t play ball; they’re jailed or executed. At least in this case the U.S. would have what rightfully should have been their’s in the first place – $500 billion in Treasuries – and the rest is set aside until the trade imbalance corrects itself in a few decades.

Best place on meth
Member
Best place on meth

“It’s funny you mention copyright when Just Me steals entire articles, too.”

That’s a great analogy, comparing trillions of dollars in theft from china to a blog poster copying and pasting an article.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

It’s ok when you do it, you mean?

Best place on meth
Member
Best place on meth

No, what I mean is that you’re such a stupid piece of communist chinese shit.

Just me
Guest
Just me

Someone would like to suppress information that does not agree with his opinion. Typical illiberal and narcissistic behavior. You and Garth are one of a kind.

Best place on meth
Member
Best place on meth

“Trump doesn’t blame China. He said they were only acting in their best interest.”

Trump knows the chinese are the worst kind of cheating scumbags, he’s just being polite.

I wonder though if he could default on ONLY chinese owned bonds, while guaranteeing bonds owned by the Japanese and all other countries.

That could send them into a tailspin quickly.

Whistler or bust?
Guest
Whistler or bust?

As tantalizing as the thought is, this would crash the US$ to 0.50 and the world economy with it as the US would be defaulting on its debt.

They can’t pick and choose who they pay back. No one would give them a penny.

The upshot, cheap trips to Disneyland.

patriotz
Member

The US president has no power to dishonour the USG’s debt obligations.

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

Re: Canada

Any country that uses a beaver as a national symbol deserves to be p*ssywhipped

kabloona
Member
kabloona

What about the country whose mascot is a bird that survives on dead fish….?

🙂

backwardsevolution
Guest
backwardsevolution

Very symbolic. The beaver builds its dam with sticks of wood, which pushes up the level of water and floods the surrounding area.

The Canadian governments build their property bubbles with manipulation and corrupt foreign money, which pushes up the price of property and drowns Canadian citizens.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Most of the money is domestic, dumbasss. It’s Canadian citizens doing the buying. Are you fucking stupid or something?

backwardsevolution
Guest
backwardsevolution

Of course Canadian citizens were in there, but they weren’t the impetus for the bubble. The foreign money started it.

Just me
Guest
Just me

Well, I’m some areas of Vancouver the Chinese are the only game left. Locals have all but disappeared from the buying side in Van West, for example.

kabloona
Member
kabloona

I prefer the wolverine as a national symbol, but hey: there wouldn’t be a Canada right now if not for that furry little beast on the nickel….

😉

See Saw
Guest
See Saw

Not funny, shithead. Canada has a lot to be proud of. You’re just too stupid not to know any of it.

Name
Guest
Name

Canada is the world’s doormat. Sad but true …

Shut It Down Already (original)
Guest
Shut It Down Already (original)

There are douchebags pretty much everywhere who say that about the country they live in. Mostly unsuccessful people who are envious of others.

backwardsevolution
Guest
backwardsevolution

No, mostly people who remember what a good country Canada was before it was sold out.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Nostalgia isn’t what it used to be?

backwardsevolution
Guest
backwardsevolution

Well, the country sure as heck isn’t what it used to be. Down the tubes.

See Saw
Guest
See Saw

BS. You obviously haven’t travelled much,

Just me
Guest
Just me

Don’t think it’s a doormat. But sure it is treated like one by mainland Chinese millionaires.
They don’t respect the country, they just use it to their advantage.

kabloona
Member
kabloona

Tell it to the Germans…..it would be hard to tally all the Germans we slaughtered last century….

Best place on meth
Member
Best place on meth

Didn’t they start shit? Both times?

Anyway, who cares. We’re going to do the same to commie chinese very soon.

backwardsevolution
Guest
backwardsevolution

Canada USED to have a lot to be proud of, before it started selling out the country to enrich the elite. There will be consequences for this eventually.

See Saw
Guest
See Saw

That started in the 1970’s you dunce; we sold everything off to the Americans. Later. it was everything from MacMillan Bloedel to Molson’s to Tim Horton’s.

Laibach
Member
Laibach

It’s normal, the same country North America but selling country to shithole scumbags is completely different case.

See Saw
Guest
See Saw

Normal? What\s “normal;” about it? Idiot.

Dyugle
Guest
Dyugle

Seen our PM that is our definition of whipped

Best place on meth
Member
Best place on meth

Justin’s beaver has been the subject of discussion everywhere s/he goes.

backwardsevolution
Guest
backwardsevolution
“The simple fact is that most retail items are marked up some 300% from their cost of production through to final sale. This means that even a monstrous difference in production cost here in the United States .vs. China, if competition is present on our end, absorbs nearly all of that, jobs come home and prices barely move. Example: A pair of jeans sells for $45. It costs $15 to make. Of that $15, the material is most of the cost; the labor is pennies in China. Ok, so now we make the jeans here. The material cost doesn’t change much, if at all, since China grows and sources nearly zero high-quality cotton. Since we source and grow high-quality cotton here, you no longer need to internationally ship it, so the cost of the raw materials actually goes down a… Read more »
Name
Guest
Name

and manual labour is now mostly replaced by robots.

Sebastien
Member
Sebastien

Some companies are actually leaving China thanks to automation. Braun is one of them.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Link?

backwardsevolution
Guest
backwardsevolution

Find your own links. Educate yourself.

Best place on meth
Member
Best place on meth

Robots will replace chinese factory workers, do a better job and be cheaper – and they have far more personality than the people they’re replacing.

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

Re China….

A party posed a question to economist Milton Friedman re how China was becoming such a major economic power and thus a threat to USA.

Friedman answered that the USA was getting goods(ie REAL things) from China…whilst all China had to show for it was “paper”.

Think about it…

backwardsevolution
Guest
backwardsevolution

Oh, China got more than just “paper”. It got technological know-how, without which its country would still be back in the Stone Age.

Besides, every single foreign business that wanted to operate in China HAD to take on a Chinese “partner” and technology HAD to be transferred. This was the price of doing business there, of getting to use their dirt-cheap labor and having no environmental controls.

AND it also allowed the members of the Chinese Communist Party (1% of the population; the elite) to steal from their country, pollute it, and then get their money and their families out before the riots began.

That’s a lot more than just “paper”.

backwardsevolution
Guest
backwardsevolution

And guess who those “Chinese partners” were that foreign businesses were forced to take on in China. They were specially-chosen members of the Chinese Communist Party, the elite, the ones who came over here and pushed up our property prices.

Simply for being loyal Community Party members, they got given a gift, a windfall. All they had to do was pollute and add enormous debt to their own country’s citizens. That’s why they needed an out, a foreign destination, because otherwise they will be strung up by lamp posts for what they have done.

Just me
Guest
Just me

“AND it also allowed the members of the Chinese Communist Party (1% of the population; the elite) to steal from their country, pollute it, and then get their money and their families out before the riots began.“

Yes. And if I were a member of a Chinese family who ran from communism Imwould be mightily pissed off with Canada. They ran away from the very people who came back to haunt them here with their massive SUVs and mansions.

I suspect many canadian-Chinese families are probably fuming a the hull of these more recent millionaire migrants. I would.

Sebastien
Member
Sebastien

Good point. Trump could order the Treasury Department to do a “Partial Default” and not pay any interest and principal on all US bonds held by China and Chinese citizens. It would be a very douchebag move but we’re dealing with president Trump so…

backwardsevolution
Guest
backwardsevolution

Trump is doing exactly what he promised his voters he would do – bring jobs back. You can’t run a country without your own manufacturing base. You cannot have a trade imbalance like the one that exists between the U.S. and China. China has not acted fairly and they did not go along with their end of the bargain. Instead of allowing exports into their country, they have developed their own industries with the West’s know-how. Time to pay the price.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Manufacturing jobs are so last century.

backwardsevolution
Guest
backwardsevolution

Hardly. You must be Chinese.

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

Ya’ll are missing the point….

Not disagreeing with your points on China’s status to date, but it is built on a house of cards…as are most Asian economies.

China became the power it was because of Western traitors…..such as Bill Clinton and Sam ”
“WalMart “Walton.

Trump could take down China in an Executive Order or less.

Best place on meth
Member
Best place on meth

“Trump could take down China in an Executive Order or less.”

He could take those scumbags down in a New York minute.

This is the most enjoyable time in history I have ever witnessed.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Hardly. You must be over 60.

backwardsevolution
Guest
backwardsevolution

And you must be Chinese.

Best place on meth
Member
Best place on meth

“Manufacturing jobs are so last century.”

Like patriotism. Right, you piece of shit?

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Enjoy your Friday night alone, racist.

Best place on meth
Member
Best place on meth

Off to the PRC consulate for appies and drinks, as per usual?

Laibach
Member
Laibach

Speaking of loneliness, don’t think others necessarily have an unfortunate and pathetic life like yourself. Apparently anyone but a cheap plastic sex doll “made in china” would maybe accompany such über douchbag.

Best place on meth
Member
Best place on meth

Notice how that lying, goal-post moving piece of shit has turned “Friday night with loved ones” into “Friday night alone”.

What garbage.

Just me
Guest
Just me

Realtors and RE jobs are so last decade.

kabloona
Member
kabloona

She gets it…. 😉

“Housing speculation risky for British Columbia growth: finance minister”

https://ca.finance.yahoo.com/news/housing-speculation-risky-british-columbia-221509774.html

“VANCOUVER (Reuters) – British Columbia must diversify its economy away from real estate speculation and the housing market needs to be moderated but the province is not looking at further new measures to cool it, the province’s finance minister said on Friday.

“You don’t build a long-term, sustainable economic plan for your province based on speculation in the real estate market,” Carole James told Reuters in an interview.

The West Coast province’s New Democratic government in February moved to crack down on real estate speculators, expanding a foreign buyer tax and introducing a new speculation tax, in an effort to cool sky-rocketing prices in Canada’s most expensive real estate market…”

Just me
Guest
Just me

“You don’t build a long-term, sustainable economic plan for your province based on speculation in the real estate market,” Carole James told Reuters in an interview.“

Finally! She said it.

Bag it and tag it
Member
Bag it and tag it

Yup, refreshing…and YVR, Whistler, Lost and Oracle all think the Liberals would do a better job of addressing the housing issue.

backwardsevolution
Guest
backwardsevolution

The Liberals did absolutely nothing, except kept the bubble growing. They should be in jail.

Just me
Guest
Just me

The BC Libs did a lot. In fact they did all they could to keep real estate values growing and homeowners/investors happy. They were, and so far remain, the real estate party.

backwardsevolution
Guest
backwardsevolution

Just me – yeah, that’s what I meant, although I didn’t word it very well. Thanks for making it clearer.

YVR
Guest
YVR

“the province is not looking at further new measures to cool it, the province’s finance minister said on Friday.”

Prices up 30% in the last year and “the province is not looking at further new measures to cool it”. Great job NDP!

backwardsevolution
Guest
backwardsevolution

YVR – I’m sure they ARE keeping a close eye on what’s going on. Detached are rolling over, and all the dumb money flooded into condos to try to get ahead of the B20. They’ll be the bagholders for the smart money that’s already out or trying desperately to get out.

The game is over, but some party animals just don’t realize it yet.

Just me
Guest
Just me

Again, please provide evidence of price run up over the past 7 months, since the NDP has been in power.
Nominal prices are in fact starting to show downward pressures.

bestplaceonearth
Guest
bestplaceonearth

Nominal price show downward pressures, so what? Market force also is driven by government policies, and it’s taking a breather. It’s due for a correction after a long bull run. Question is, what are you stupid bears gonna do about it? Nothing, just salivating is your best bet.

Bag it and tag it
Member
Bag it and tag it

The right thing to do at this point is to sit back and wait to see the impacts of the current measure, then to reassess in 6 to 12 months. What would have have them do to further cool the market?

YVR
Guest
YVR

“What would have have them do to further cool the market?”
Here is a start:
1. Not reduce the spec tax by 85% like they just did which they claim 99% will now avoid.
2. Apply the foreign buyers tax to presales like Eby promised.
3. Apply B20 rules to all BC credit unions like other provinces.
4. Quit studying money laundering and take actual measures and press charges.
5. They should have done all of the above prior to the market going up 30%.

Bag it and tag it
Member
Bag it and tag it

And you think the Liberals will be the ones take it to the next level and grant your wishes?

Best place on meth
Member
Best place on meth

Oh yeah, Wilkinson is going to deliver all that and more.

Get ready to vote Liberal again, YVR!

YVR
Guest
YVR

Real estate prices are up more in nominal terms than any time in history under this NDP government for the same time frame. You are saying that is good? That is not only keeping the bubble going that is accelerating it.

backwardsevolution
Guest
backwardsevolution

YVR – the Liberals created this mess, it’s been 20 years in the making, and yet you expect the NDP to stop a runaway train on a dime?

As the NDP can’t ban buying and selling outright, they’re carefully putting on the brakes.
Yeah, it’s a tough job, and it’s too bad they had to be the ones to do it, take the punch bowl away. But there are still a great many idiots out there, who are about to be taken to the cleaners, that are still wanting to get to that punch bowl.

As with any party, it takes time to clean up and get the drunks out the door.

Just me
Guest
Just me

One can use the parental analogy. If one parent is giving candies and chocolates to their kids all day long, the other more sensible parent will have to intervene and will not be popular for enforcing the rules.
Kids will remain hyperactive even after the good parent steps in. What do you expect after being fed candy all day?

YVR
Guest
YVR

If the second parent waited a year and then after saying they would stop feeding candy they said they would just reduce it by 10% another 6 months out after studying the issue would be a better analogy.

Just me
Guest
Just me

Can you provide some evidence for your claim about nominal prices being up by a record?
I am not seeing much nominal change in the past six months. If anything, prices are moderating at the top.
Big claims need big proof..

Bag it and tag it
Member
Bag it and tag it

Yes, but most of the uptick was a hangover from the Liberals post FBT stimulative measures.
Did you really think prices would drop 30% in one month after the NDP implemented their measures. Let’s check back on this same time next year.

YVR
Guest
YVR

Nice to hear her flip flopping from ‘protecting home owners hard earned equity’ but until prices are lower than when they were elected talk is cheap. Reneging on the spec tax was an embarrassment. We can only hope for the NDP to kill the economy by incompetence to bring prices down.

Just me
Guest
Just me

“But James said it would be a “huge risk” for the province to continue with the status quo, with an affordability crisis causing labor shortages that are threatening other sectors of the economy that are important for long-term growth.”

Carol James is making sense. Kudos.

Bestplaceonearth
Guest
Bestplaceonearth

Does the NDP know what the other sectors are? Tax the wealth is what they do best. Of course the bears are just as clueless as the NDP is. Want proof? Ask just Me and his ignorant advice.

backwardsevolution
Guest
backwardsevolution

Most of the wealth in the past 20 years has been made from doing nothing. And I’ll go you one better than that: a lot of the wealth has been made under the table and wasn’t taxed at all, as in assignments. What you’ve said is just ignorance talking. Tax the wealth, my eye.

Just me
Guest
Just me

“Most of the wealth in the past 20 years has been made from doing nothing. And I’ll go you one better than that: a lot of the wealth has been made under the table and wasn’t taxed at all, as in assignments”

Amen. Could not have written it any better.

bestplaceonearth
Guest
bestplaceonearth

BTW, the seniors has lived in the same house for the last 30 years, the increase does not make a difference for them. They have not sold their primary residence, remember? The government just has to stop putting their hands in people’s pocket. If stupid bears works hard and invest right, there is no need for jealousy.

Just me
Guest
Just me

Nobody is jealous. It is a basic matter of civilization: you have to contribute to society proportionally to you wealth. We all pay taxes, some of us very high rates. It is therefore important that we tax people who have found a way to contribute little or nothing.

bestplaceonearth
Guest
bestplaceonearth

Hmmm, you never bought property, so you don’t know what taxes they have paid. Ask Paul, he will fill you in. The buyers pay taxes on top of taxes, every little bit of it. You just have to blame yourself for your own failure, not the other tax payers and homeowners.

Laibach
Member
Laibach

“What you’ve said is just ignorance talking. ”
Or even closer, what he’s said is just locust talking.

bestplaceonearth
Guest
bestplaceonearth

Doing nothing? These homeowners pour the entire savings into buy their shelter, pay for the cost borrowing every month, and you said they do nothing! Heaven save you! And of course, the envy like you say tax the wealth.

Just me
Guest
Just me

These homeowners pour their savings into a purely speculative investment, in the hope of striking rich. When things go well, they buy a second. Then a third…..
It is greed. Sheer, unadulterated, simple greed.

Just me
Guest
Just me

So, you are basically saying that we should keep growing the RE sector and have an economy based on RE speculation and ever rising house prices. Is this what you are suggesting?

bestplaceonearth
Guest
bestplaceonearth

I say the government stops stealing people’s wealth.

Just me
Guest
Just me

I see. So we should begin by lowering taxes on stocks and shares. It would be just fair to equalize the tax treatment of housing wealth with non-housing wealth.

bestplaceonearth
Guest
bestplaceonearth

what part of market driven don’t you understand? And you are so blind you can’t tell the difference between investing in stock/share and basic necessity like shelter. For many families, housing is a security for their family shelter and not an investment. Until you can understand the basic of it, you deserve to fail.

Just me
Guest
Just me

“what part of market driven don’t you understand? ”

The part where all kinds of wealth are heavily taxed, apart from housing.

And no, we are not talking about shelter alone. The people complaining are worried because they see their homes as goldmine investments, not as homes to live in. Otherwise they would be happy about the measures put in place by the NDP.

The new taxes are trying to make houses be homes, not investments.

Just me
Guest
Just me

“The plan has been criticized by the development industry, which has said tax increases could deter investment in new supply, needed in both the tight rental and real estate markets.”

In other news, barbers are promoting the importance of regular haircuts and professional shaves.

Sebastien
Member
Sebastien

They wanted twice the assessment!:
10320 Blundell Road, Richmond
Nov 28:$3,998,800
Apr 6: $2,498,000
Change: – 1,500,800 -38%
A: $1,845,000

Drug money flight?:
11580 King Road, Richmond
Mar 1:$2,488,000
Apr 6: $1,777,777 (Why the 7s?)
Change: – 710223.00 -29%
A: $2,354,000

Sebastien
Member
Sebastien

Bye Bye 8s:
2750 E Pender Street, Vancouver
Oct 18:$2,880,800
Apr 6: $1,998,000
Change: – 882,800 -31%
A: $1,828,000

9s?
4448 Nanaimo Street, Vancouver
Feb 21:$2,099,000
Apr 6: $1,699,000
Change: – 400,000 -19%
A:$1,388,000

Bag it and tag it
Member
Bag it and tag it

I would think the Chyneeze would view the 9 as 8’s wealthier, better looking older brother.

Confucius
Guest
Confucius

Whoah, take a look at Zolo sales and inventory charts. Sales are dropping down near December levels. Their sales numbers are prorated, so there are fluctuations, but sales are down across all types and inventory has becoming steeper to the upside. This is extremely bearish as sales typically increase through May.

Looks like the end of B20 and the NDP are having a major effect. Sell now, the bubble is popping.

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

Prices in may areas spiked between 2015 and 2017…..ie doubled.
What’s the big deal….re cause and effect ….as noted numerous times Chinese brought in $$$$ billions to Metro Vancouver market.

SFD in many area rose from$1 Million to $2 Million….but there is no fuel left to make these jump to $4 Million…not even $3Million…instead we are seeing $2 million prices getting haircuts..aka the peak was reached.

Forget B-20, NDP etc….it was unsustainable from the start….the market got juiced and many rode the wave.
If one sold at the peak…got lucky.
……if bought at the peak…oops.

I see this more as a natural correction moreso SFD
The most radioactive market will be Condo,..which is showing signs of fracturing….and that’s gonna be THE big RE smackdown.

Name
Guest
Name

Got a new real estate flyer in the mailbox today “LeHomes Realty Premier” (must be new never heard of them) Serving New Immigrants. Half in chineeze with gaudy orange colour. All azian realtors of course.
We can assist you with:
House Purchase/Airport Pick Up/Hotel/Banking/School Application

but they forgot:
Buying Luxury Automobiles/Setting up casino money laundering account/buying BC drivers license/How to defraud ICBC/Defraud BC Medical/Collect government benefits while claiming low income/and any other scams you need.

MarKoz
Member

I Googled them and they occupy the same offices that used to house New Coast Realty at the corner of Granville and 70th. I received a flyer recently from Nu Stream Realty offering the same House Purchase/Airport Pick Up etc. etc.

MarKoz
Member

Oops, the flyer was from New Coast.

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

Rumour is Chinese want all COV numbered streets changed

ie 70th Avenue will be 69.9888 Avenue

41st Avenue will be 40.9888 Avenue

12th Avenue will be 11.9888 Avenue

PS Coming to Surrey soon.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Of course a rich foreigner who has already managed to establish themselves in your crappy building needs a ride from the airport. It’s almost as if they’re trying to convince stupid locals that there’s a endless supply of buyers flooding YVR daily.

Just me
Guest
Just me

Of course not. Chinese money and millionaire migrants are a non issue in Vancouver. They are nowhere to be seen. It is all just a racist conspiracy.
Right?

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Wrong. We have the data, fuckwit.

Just me
Guest
Just me

There you go. Insults and discredited data.

All seen before…..

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Discredited by morons.

Just me
Guest
Just me

And the angry name calling continues.
We have discussed the pitfalls of the data you appeal to, many times. They miss the source of funds for many legal residents who never worked here.

But you knew that already, yet kept repeating your misleading claims. You and Garth have similar methods.

Best place on meth
Member
Best place on meth

The asshole probably thinks china’s GDP growth numbers are real.

After all, that’s what the official data says.

Whistler or bust?
Guest
Whistler or bust?

He doesn’t but the guy representing an entire village who each kicked in $10k to buy a presale apartment sure does.

Dunt bee stoopid
Guest
Dunt bee stoopid

Who told you that? Ian Young.

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

See Weed…
Who typed that..?
…your sphincter?

YVR
Guest
YVR

You would be surprised what lengths certain ‘rich foreigners’ would go through to save $25.

Whistler or bust?
Guest
Whistler or bust?

Its implied and on the wechat app.

Just me
Guest
Just me

Wechat has become a law-free area where all kinds of transactions are electronically settled in a matter of second. People exchange advice on how to avoid taxes, use ride sharing that is normally banned, and a variety of other useful tips.

That might explain why the passengers in the SUV driving around are all staring at a screen as if they were under hypnosis.

Bag it and tag it
Member
Bag it and tag it

Doug Ford, who is leading in the polls for the election 9 weeks away.
https://www.theglobeandmail.com/politics/article-doug-ford-open-to-privatizing-liquor-sales-and-dropping-foreign-buyers/
Mr. Ford said he was considering a policy that would do away with the tax. The better solution, he said, is to build more affordable, single-family homes on underused land.
“I just don’t like the government getting involved. I believe in the market dictating. The market, no matter whether it’s the stock market or anything, it will always take care of itself − supply and demand. We’re short on single-dwelling homes,” he said.

I don’t think it would be a bad thing for BC bears if he did win…could funnel all the foreign buyers to Ontario and inspire the feds to implement more cooling measures.

YVR
Guest
YVR

First off don’t assume the politicians will keep their promises. Often they make the promise to go against the other party. Quick action to cool housing, Site C, LNG, freezing Hydro rates, ride sharing in 2017 are a few of the BC NDPs. Having said that it would be bearish for BC if Ford follows through.

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

B.C . needs a a Doug Ford

Any nominees_________?

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

NDP supporters on VCI ?

WTF? who woulda thunk.

Not to worry..NDP 3.0 is lining up to be worse than NDP 1.0 and NDP 2.0 combined.

Dunt bee stoopid
Guest
Dunt bee stoopid

Yeah, sure. Whatever you Say, asshole.

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

Hey See Saw…..

……what part of &^%$# don’t you understand ?
…….you &*^%ing dip*&^%

Best place on meth
Member
Best place on meth

US seizes pot-growing houses tied to China-based criminals

https://apnews.com/60e9e35eeb81482b85acce911a582266/US-seizes-pot-growing-houses-tied-to-China-based-criminals

Hundreds of federal and local law enforcement agents have seized roughly 100 Northern California houses purchased with money wired to the United States by a Chinese-based crime organization and used to grow massive amounts of marijuana illegally, authorities said Wednesday.

The raids culminated a monthslong investigation focusing on dozens of Chinese nationals who bought homes in seven counties.
The buyers generally used the same Sacramento real estate agents, borrowed from private lenders instead of traditional banks, and used straw buyers who purchased the properties on behalf of the real owners.

Just me
Guest
Just me

Would never happen in BC. Our mainlanders are honest and law abiding. And they never buy real estate, anyway.

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

Ah yes…the olde” Grow Opp” days….

Remember how rampant they were ? ……till the Gov’t finally cracked down?

Think of this as an “allowable” from Gov’t….like RE money laundering…. till SHTF.

Next scam = “________” ?

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Yes, nobody in BC has ever grown weed. Idiot.

Just me
Guest
Just me

Especially the very law-abiding mainlanders.
Perhaps you are right, though. They do prefer dealing in Fentanyl.

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

Thanks SIDA….

why don’t you and See Saw put on an act(?) at the RIO as a fund raiser…

You F*cking @sshole… ex New Coast Realtor…… PRC…. dog- eating ….pumpkin- stealing trolls

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Fuck off, you uneducated racist twat.

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

SIDA
…….Is that all you got ????
………..punk turd…..

keep your New Coast “For Sale” signs off the street corners this weekend…..

YVR
Guest
YVR

“Would never happen in BC”

Yes because Eby would be studying the issue rather than pressing charges and seizing assets.

Just me
Guest
Just me
Just me
Guest
Just me

“One thing B-20 has done, aside from the stress test, is it’s stopped a lot of refinances,” continued Schurman. “You can refinance with your own institution even if you don’t qualify under the stress test, but you can’t refinance with another institution—you have to requalify. A lot of the mortgage business is refinances, not new sales. A lot of these regulations have slowed down the refinance business.”

Specuskeptic
Member

So, the bubble won’t be kept afloat by Credit Unions? Anybody surprised by this? LOL… Make sure YVR gets the memo on this.

Just me
Guest
Just me

It sounds like Credit Unions are both unable and unwilling to foot the bill of new originations necessary to offset the drop from major banks.
Good look to all those speculators desperately trying to leverage their way into the Vancouver real estate market.

YVR
Guest
YVR

The article refers to Ontario not BC. Note Ontario is down 30% year over year where Vancouver is up 30% year over year. Big difference between the two markets. Last year a $1M property in Vancouver is now priced at $1.3M where in Ontario that property would be $700K. Thanks NDP! VCI is so proud of you for making this huge accomplishment.

Just me
Guest
Just me

“Even though stress testing mortgages is primarily why credit unions were thought to benefit from B-20—they’re not regulated by OSFI—Schurman says they don’t wantonly lend out money simply because they can.

“In our minds, there’s nothing wrong with the stress test. If somebody can’t afford a 2% rate increase, they should probably relook at what they’re doing. We’re not in the business of giving somebody a mortgage they can’t afford if the rates go up,” he said. “Being a member-owned financial institution, we’re in business to do what’s right for our members, and if our members can’t afford something we’re going to work with them to help them understand that. We’re not going to just give somebody money because they want it and then have a foreclosure sign on their lawn two years late because interest rates went up.”

Just me
Guest
Just me

“Hearing it from the CEO of the Canadian Credit Union Association, that isn’t surprising. She says credit unions’ are primarily beholden to their members.

“Credit unions are by their nature fairly conservative in their lending,” said Martha Durdin. “They also run up against their caps on capital levels and their purpose is to serve their members, and to help their members achieve their financial goals, so they’re going to look at the opportunities presented to them and if it makes sense for the organization, the borrower, the credit union, they’ll write the mortgage.”

YVR
Guest
YVR

“Credit unions are by their nature fairly conservative in their lending,”

Of course this is not true and simply spin by the credit unions. Remember Van City was offering zero down mortgages when nobody else was and they invented the shared mortgage between friends. Credit unions offered easier credit than banks prior to B20 and certainly still do.

Just me
Guest
Just me

“Some credit unions, like Vancouver City Savings and FirstOntario, are developing their own underwriting criteria, so that bump in originations may never come to fruition.

“At some point, we may be regulated by the exact same [OSFI] measures,” said Schurman. “But we still don’t want to be seen as rogue lenders, where if you’re turned down by everybody else you can come to the credit union.”

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

Re: Credit Unions….

The message they are “attempting” to submit is they are being “conservative” and not cutting cheques to any/all developers and potential purchasers.

However, I have observed many sites that have Credit Unions and NON Big 6 banks that advertise themselves as project funders…..yet nothing has happened yet except weed growth.

The unfortunate thing is Credit Unions are accountable to their members, and what growth vehicle/investments can they access other the RE ???…the old FOMO extrapolated to lower rung financial institutions.

YVR
Guest
YVR

“Vancouver City Savings and FirstOntario, are developing their own underwriting criteria”

Their own underwriting criteria = easier to qualify otherwise they would state they are following B20.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Trump’s Right to Say He’s Not Launching a Trade War With China. He’s Doing Something Bigger.

No one likes trade friction, but after decades of failing to stop Chinese theft of American intellectual property, there are no more no-cost solutions.

https://www.thedailybeast.com/trumps-right-to-say-hes-not-launching-a-trade-war-with-china-hes-doing-something-bigger

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

Translation…

China can go F8ck itself….

Automation etc. will render China as a short term blip in the timeline of (economic)History.
WE don’t need any more of their Sh*t, …..nor any more of their economic saboteur agents .

Any sovereign nation can ramp up a manufacturing base in a heartbeat…..once they shed the shackles of globalism and the banksters.

China sucked in Western Nations via their seemingly endless slave labour pool in the typical COMMUNIST model of (2) class system….(i)99% serfs and (ii)1% Oligarchs…these are the scum we see driving up our local RE.

Trump..posturing or not..is at least sending these foreign locusts a subtle message of who is really boss.

Confucius
Guest
Confucius

Sorry to burst your bubble, but China and India were the dominant economy powers for the past 2000 years. If anything, recent Western dominance is a blip.

http://ritholtz.com/2010/08/history-of-world-gdp/

That’s being said, China’s current expansion is unsustainable.

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

No bubble burst..

The article simply shows why such metrics by economists are on par with @ss wipe..

……aka lets ass-u-me that China and India were dominant economies for 2K years…they are still 3rd world shitholes with 99% of the citizens as serfs. Our future????

These 3rd worlders have nothing to offer to rest of Terra Nova in a progressive sense ….they can F*ck off..

Confucius
Guest
Confucius
It’s not only just economists. The unbathed Marco Polo from shithole Europe visited China and the east and was in awe of it’s riches. This was the turning point for europe, a wake up call. Make no mistake, you are a peasant if you don’t own your own plane. You may have a great standard of living compared to most people in the third world, but that’s just because the bar for peasants has risen so high. Chinese and Indians are working hard to become IT engineers and many recent technological breakthroughs are because of them. Meanwhile, foolish white people are are trying to be pop stars. If you think you’re somehow inherently better than people in the third world, then you’re part of the problem. Western civilization is in decline.
patriotz
Member

“Western civilization is in decline.”

Funny how many Chinese and Indians want to get on that sinking ship. It’s true that Asian immigrants are responsible for many of the West’s technological advances but that’s a sign of the West’s strength not weakness. Just like Jewish immigrants a century or so ago.

China seems to alternate between innovation and stagnation e.g. going from Ming to Qing and the crowning of a new emperor may well bring in another era of stagnation. India as we know it been around for less than a century and is still trying to figure out what defines it, if it hits the right combination it could do very well.

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

patriotz…..

RU kidding re “It’s true that many Asian immigrants are responsible for many of the West’s technological advances…….”?????

I respect much of what you submit….but is this post a reflection of your overall views???..or oops….an anomaly????

Confucius
Guest
Confucius

I clearly said recently, and that was the comment Patriotz was agreeing with. If you don’t agree with that, you have no idea what’s going on then. The US has always been a brain drain from counties around the world, including Canada. More recently, they’ve been taking in tons for Chinese and Indians. Biotech, software and hardware technology is dominated by Chinese and Indians immigrants. Most white Americans and Canadians and trying to be pop stars or plunge toilets or other trades.

Best place on meth
Member
Best place on meth

Yes, I get that.

But the fact remains the the chinese are only there to steal.

It’s what they do.

Best place on meth
Member
Best place on meth

Yeah, I hope he’s not referring to mainland chinese because those dirtbags do nothing but steal everyone else’s ideas.

Confucius
Guest
Confucius

Besides, in response to your original post, you think China is not aware of automation? They’ve already been moving factories to Vietnam, but that’s not cheap enough.

http://www.wbur.org/bostonomix/2017/11/20/china-automation

Better have your kids focus on math and science instead of rainbows, unicorns and precious feelings. At one point those shithole counties will be more desirable than here. Take a look at Japan, previous shithole, now weird, but cool place to live. Take this as a wake up call. You’re welcome.

Best place on meth
Member
Best place on meth

Japan has never been a shithole.

You’re chinese, your bias is blatantly obvious.

As long as china is totalitarian, it will ALWAYS be a shithole filled with cheaters.

Look to Taiwan or Hong Kong if you want to see the better side of chinese.

Confucius
Guest
Confucius

Japan was considered inferior in the past. Was a surprise to me as well, but I leaned that when I watched Back to the Future 3 as a kid. Japanese tech was considered inferior in the 50s. Obviously, it would be from a shithole third world country. More recently, you surely have seen the change in perception of Korea and their products.

Best place on meth
Member
Best place on meth

Of course Japanese tech was inferior in the 50’s.

They had just emerged from being annihilated in a world war an nuked on 2 fronts and were starting from scratch.

That doesn’t mean they were ever a shithole, it was merely a blip in their history after having made a colossal error in their aggression against their neighbors. Afterwards they adopted western liberal values including democracy and did very well.

Korea as well has emerged from a war, struggled for a while with totalitarianism and then followed Japan’s path, they are now very successful.

Mainland china? Still a fucking cesspool and always will be as long as the communists run the place.

Confucius
Guest
Confucius

Lol, the only thing that changed was perception. Chinese companies have produced high quality products and the perception will inevitably change.

Best place on meth
Member
Best place on meth

“Chinese companies have produced high quality products”

People like you are the reason nobody from china should ever be trusted.

Fuck your beloved motherland.

Nuke it.

Confucius
Guest
Confucius

Damn, I thought we were just having a discussion, no need to promote mass murder.

Best place on meth
Member
Best place on meth

Why should you care what happens to the PRC?

Is Canada your country or is china your country?

Confucius
Guest
Confucius

Canada is my country, but we’re all human.

Just me
Guest
Just me

Japan is a highly sophisticated and advanced society, with an ancient culture that — importantly — regards the law very highly. That is, in Japan people are ashamed of breaking the law. In China it almost seems that families teach their kids that anything is OK in order to go ahead. At least recently, after 40 years of communist regime.

This is a big difference.

Confucius
Guest
Confucius

Absolute bullshut. Chinese do not teach their kids that anything is okay to get ahead. There are sociopaths and psychopaths in every country. Maybe they teach their kids that, but not the majority of mainland Chinese. I have first hand experience, you do not.

Best place on meth
Member
Best place on meth

Fuck you, china apologist.

https://www.telegraph.co.uk/news/worldnews/asia/china/10132391/Riot-after-Chinese-teachers-try-to-stop-pupils-cheating.html

Your country is despicable.

I don’t trust a single one of you from that shithole.

Confucius
Guest
Confucius

Good on the school to crack down on them. Those students should be jailed for rioting.

It’s not my country, the commies took my family’s money and my parents were raised outside of China. I have no issue with people hating the Chinese government, it’s a dictatorship and they don’t allow freedom of speech. Hating all Chinese people is extremely prejudice though.

Just me
Guest
Just me

I actually feel for the honest Chinese families that left that violent country in search of a better life. They are now being b7nched together with the corrupt bureaucrats and communist cadres that they scaled from when moving to Canada decades ago. This really sucks for them.

But the6 should be more vocal and make it clear that they do not support the behaviour of more recent arrivals . Not doing so is dishonest and counterproductive.

This is about money, not race.

Confucius
Guest
Confucius

I agree, but sometimes that’s easier said than done. We’re friends with those families. Going public about this abuse would be two-faced. Go to their house and drink their beer one day, throw them under the bus the next. They’ve been good to us and we really don’t know what they claim as income or how they run their taxes. All I could do was post it here anonymously.

Just me
Guest
Just me

F course, there are many honest Chinese families. And I have no doubts your family was an example of that. But you have to concede that the recen5 record of millionaire migrants is abysmal. At least in Vancouver, they have cheated and lied their way to tax-free services and money laundering. If you disregard this evidence, you are not being honest.