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Friday Free-for-all! April 6th 2018

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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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KickThemOut

More hocus pocus from everyone’s favorite Chinese doctor – treat kids with rabid dog saliva!? How the fuck is this even possible?

Thank goodness real Canadians are not stupid enough to fall for this crap.
http://www.cbc.ca/news/canada/british-columbia/b-c-health-official-voices-grave-concerns-after-child-given-homeopathic-remedy-using-rabid-dog-saliva-1.4622494

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KickThemOut

China fights back against Trump’s trade sanction by starving it’s own people!
http://www.cbc.ca/news/business/china-trade-tariffs-1.4622860

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KickThemOut

BNN Real Estate Show – https://www.bnn.ca/bnn-advisor/video/the-real-estate-show~1372122

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xhistory

Body Electric Lyrics

One humanoid escapee
One android on the run
Seeking freedom beneath a lonely desert sun

Trying to change its program
Trying to change the mode…crack the code
Images conflicting into data overload

[Chorus:]
1 0 0 1 0 0 1
SOS
1 0 0 1 0 0 1
In distress
1 0 0 1 0 0

Memory banks unloading
Bytes break into bits
Unit One’s in trouble and it’s scared out of its wits

Guidance systems break down
A struggle to exist
To resist
A pulse of dying power in a clenching plastic fist

[Chorus]

It replays each of the days
A hundred years of routines
Bows its head and prays
To the mother of all machines

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southseacompany

“House prices plunge in Canada”, CBC News

https://www.youtube.com/watch?v=ZDfmV3-YrGc

“Average house prices in Canada were down in March compared to last year, but is it a sign of things to come? Brett House of Scotiabank Economics and Samantha Brookes of Mortgages Of Canada talk about how we got here, and what may be coming next.”

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Spec

For a lark, just went on over to the old RE Talks site. Pretty much a ghost town.
The old log in still works.
I laughed.
ETB is still a douchebag.

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KickThemOut

What about the REIN forums? Suicide hotline numbers up yet?

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Whistler or bust?

Anyone got a few hours a week to start a new blog if this one goes dark?

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Just me

Something must have happened to the Pope.
A free forum for,discussion (with no censoring) is certainly needed. Like this blog.
Shame that is being left to die.

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Oracle

He bought FFS.

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bestplaceonearth

You meant the pope has left the bear camp? No way…

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Shut It Down Already (original)

You’ll have to find another place where your garbage is acceptable. What a pity.

Or maybe Pope is on holiday, moron.

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ostritch

China growth on track. China bonds selling well. Once they create a robust domestic economy, the next wave of Chinese investors will wipe you guys out of Vancouver. You have a decade to prepare.

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Oracle

You’re right.

Now the question is will the island be for the whites and lower mainland for immigrants?

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CombatRoach

Another abusive disgusting Chinese labour practice coming to a workplace near you.
https://www.marketwatch.com/story/amazon-warehouse-workers-fearful-of-wasting-time-relieved-themselves-in-bottles-undercover-investigator-2018-04-16?mod=sm_fb_post

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Just me

“Scrap the Speculation Tax” coalition turns to big tobacco and asbestos PR firm

https://thinkpol.ca/2018/04/14/scrap-speculation-tax-coalition-turns-big-tobacco-asbestos-pr-firm/

These people have no shame. No shame whatsoever. The onl;y thing they care about is their bottom line. Vancouver be damned, they would sell it brick by brick to the highest bidder.

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Just me

“Hill+Knowlton Strategies became infamous for running campaigns to promote the interests of the tobacco industry[3] and asbestos industry[4] among many other controversial clients.

Interestingly, BC Liberal leader Andrew Wilkinson, who’s a strident critic of the Speculation Tax[5], has acted for multinational tobacco companies against the BC government, as the province sought to recover billions of dollars spent out of the public health-care budget to treat people with smoking-related diseases such as emphysema and lung cancer.”

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Bag it and tag it

So used to having everything go there way for so many years, there’s no way they can let it rest…and in the process they’re exposing themselves for who they really are…greedy traitors.

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Just me

Realtor who deceived buyer into displaying New Coast Realty “sold” sign for a year fined $2,000

https://thinkpol.ca/2018/04/15/realtor-deceived-buyer-displaying-new-coast-realty-sold-sign-year-fined-2000/

Could have they been any more lenient? Maybe we should give her money for the inconvenience? After all she is a hard working member of our community….

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Name

I have noticed the latest trend is for these agents to place multiple signs for open houses on street corners and then leave the signs there all the time. They used to collect the signs at the end of the open house. Also putting up 2 or more large signs on the property to advertise it for sale; they used to put up one sign. Also the asian real estate signs are now garish and with obnoxious colours. Anything for attention …

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xhistory

The Body Electric, by Rush

based on Twilight Zone episode #100 – “I Sing the Body Electric.” The episode originally aired in 1962. It’s about a family who orders a robot “Grandmother” after the death of their young mother. Written by Ray Bradbury, the name came from a Walt Whitman poem. The story was later included in a short stories collection with the same title in 1969.

Some believe the song was inspired by the movie THX 1138, one of the first films made by Star Wars creator George Lucas. >>
The song describes a robot who struggles to break free of the hegemony of the robots’ social structure. The chorus repeats several times:

one-zero-zero-one-zero-zero-one SOS
one-zero-zero-one-zero-zero-one In Distress

1001001 is ASCII code for the letter ‘I.’ This could indicate the robot’s motivation for escape – it’s attainment of self-awareness…

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Oracle

http://www.cbc.ca/news/canada/british-columbia/ubc-s-vantage-college-canadians-need-not-apply-1.2826142

WVen tour kids gonna be priced out of an education. $50,000 tuition to start.

Once metro become majority Asian, kiss subsidized education goodbye.

Easiest colonization in history. Hahaha

Better food for these people too.

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Shut It Down Already (original)

Your repetitive alt-right fear mongering borders on the hilarious, faker.

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realist

The casually flagrant abuse of taxpayers and donors, whose children will never darken the door of “Vantage College”, is astounding, even for a cynical old whore of an institution such as UBC. I wonder whether there will be some signage to the effect of “no dogs or locals allowed” ?

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ostritch

Over 1,000 comments. Wow! The bears must be beside themselves with anticipation. Sales and prices down in Toronto that’s a FACT. Meanwhile, a good friend who lives over in the Woodbine area, near a TTC, but in God’s anus as he says, just saw a neighbour’s house go for 150K over ask last week. And we’re talking SFH, so the worst category according to the headlines. Hmmmmmm….

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Name

So if they asked a $1 it would be the same thing. The asking price means nothing.

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ostritch

SOLD. It sold for 150K over asking.

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Whistler or bust?

Fake ridiclously low asking prices to incite bidding wars are common in TO. Means nothing.

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paulb

New
377
Price Change
78
Sold
191
TI:9799

http://www.clivestevepaul.com

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Lost...but not Leased

Yeah baby !!!

Convergence….!?!
1000 + VCI posts….10K inventory coming soon

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Just me

Anyone knows how many of the 191 sold are condos?

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Screwed

190

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Bestplaceonearth

Just pull any numbers out of your tofu brain. What ever the number it is, it doesn’t make any difference for you anyway.

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Shut It Down Already (original)

You’re wrong, man. He’s going to stun us with his analysis. Just you wait.

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Bag it and tag it

The best bearish indicator of all is your incessant anger…keep it coming.

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C.Junta

“Anyone knows how many of the 191 sold are condos?”

For Vancouver proper, https://www.zolo.ca/vancouver-real-estate/trends says between March 17 and April 14, sales were: Detached 82, Townhouses 69, Condos 393.

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Doomcouver

Condo prices drop 10 % in Regina:
http://www.cbc.ca/news/canada/saskatchewan/real-estate-regina-april-2018-1.4621270

400k for a 2 story home. Probably worth less than 200k.

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Spec

Weirdly, incomes in Regina are higher than the Couv and the fundamentals are much closer to rational there….and they’re the ones with the condo price drop.

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Shut It Down Already (original)

Is the Sask government handing out money to condo buyers?

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Spec

Not as far as I’m aware… and neither is BC ATM if I’m not mistaken.

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Doomcouver

The unwinding will be disorderly and chaotic. Seeing some parts of the market collapse while others are buoyant is to be expected. Eventually everything will go down, it’s just a matter of time.

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Shut It Down Already (original)

BC was until recently. That 10% drop is YOY, remember.

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Just me

Pope, we need a new thread. Badly.

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Doomcouver

No we don’t. I want to see what happens when it rolls over to 10k. 😛

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Bestplaceonearth

You cry about everything, don’t you!

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Whistler or bust?

Public inquiry may be needed into role of money laundering in high B.C. housing prices
https://www.theglobeandmail.com/canada/british-columbia/article-public-inquiry-may-be-needed-into-role-of-money-laundering-in-high-bc/

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Doomcouver

Captain Obvious writes for the Globe and Mail now?

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Name

Surrey developer sentenced for tax evasion.

http://www.news1130.com/2018/04/16/surrey-developer-tax-evasion/

“He failed to report $462,092 in GST and HST collected on the sale of 44 units in a townhouse complex in Maple Ridge”.

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Whistler or bust?

Oracle?

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Doomcouver

Seems like a light sentence. I would have thought the prosecution would seek jail time.

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Lost...but not Leased

Nah….CRA is a $$$$ whore….

Surrey?….Hey hey hey..what are the odds the accused would be a non Caucasian????

Probably CRA had the guy by the short hairs…putting the guy in jail would cut into Gov’t profits….I’d hazard a guess few CRA cases ended up with jail time…just another shekel shakedown .

However, word is CRA will NOT get involved in high profile cases aka deep pocketed locusts…(priority is to intimidate middle class and working poor waiter and waitresses tips which may fund foreign terrorists)

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kabloona

“Drawing Conclusions: Should you wait for a market crash before buying a condo?”

https://www.theglobeandmail.com/business/video-drawing-conclusions-should-you-wait-for-a-market-crash-before-buying/

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Doomcouver

That video was a colossal waste of time, just reiterating what non-morons should know about buying a house regardless of a crash. On a side note my price:rent ratio in Richmond is about 375 months, aka. over 31 years. Why would anyone buy in this market again? Oh yeah, they’re idiots. I forgot.

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bestplaceonearth

1001!

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Royce McC

1k. Yay.

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Doomcouver

Couple ordered to pay $470,000 after reneging on Stouffville home deal:
https://www.thespec.com/news-story/8396407-couple-ordered-to-pay-470-000-after-reneging-on-stouffville-home-deal/

David Lea and Yixing Hu are learning a valuable lesson in property speculation. They appear to be stereotypical mainland Chinese buyers that have no clue what they’re doing and think throwing money at our housing market is an easy way to make free money. Contrary to popular belief real estate isn’t a one way bet, and if you buy into a real estate market as overvalued as ours, you may lose it all and then some (since you’re gambling with the bank’s money as well). Expect more horror stories like this to continue to cause buyer fear and amplify the downturn in housing prices.

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Lost...but not Leased

I can’t believe it..

WTF are the odds that the perps would be of foreign locusts roots….must be an exception to the norm.

As we speak, rest assure the courts will be clogged up with these types of cases.
However, because of the volume, parties may decide to renegotiate contracts at lower prices, so buyer loses somewhat but better off than trying to re-list and sell to others in a collapsing market.

PS watch a similar trend coming soon to Strata market ( and to a much larger degree).

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Ken

The realtor should lose his or her license for egging stupidity on.

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Shut It Down Already (original)

The buyers are responsible for their own stupidity, nobody else. They could have also put a subject or two in their offer but they were too greedy.

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Ken

I also would like my money back after I bought some Facebook stock at its high and it dropped 20% last week. Boohoo

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myraandrews

The seller, Douglas, is the “Derek” that Garth Turner talked about in is blog “Greater Fool”

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myraandrews

http://www.greaterfool.ca/2017/04/17/oops-2/

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kabloona

“GTA housing market poised for spring thaw – Downtown Toronto properties are attracting multiple offers, while realtors in the wider GTA see signs of the market heating up…”

Okay…..if you say so. Now let’s see the Leafs heat up….

😉

https://www.thestar.com/business/real_estate/2018/04/13/gta-housing-market-poised-for-spring-thaw.html

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Doomcouver

Yes “Nothing to see here people! Continue speculating! You’ve got hungry realtors to feed.”.

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Whister or Bust?

Maybe Admin will give up the site to someone who wants to take it over and update it? It would be a shame to see it disappear.

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