Luxury condo tower pulled on weak demand

It appears there might be a limit to ‘build it and they will come’. Southseacompany points out a recent development proposal that was pulled amid signs of weak demand.

“A proposal for a downtown Vancouver luxury condo tower that was scheduled to go to a public hearing next week has been abruptly cancelled by the owner.”

“A representative of the developer, Brilliant Circle Group, sent a letter to the planning department last week withdrawing the project. The letter, obtained by The Globe and Mail, explained that the decision “is due to the impact of the rapidly changing real estate market, which affects both the unit mix and the CAC evaluation.””

““Everything’s corrected and the luxury market is gone,” said Ian Watt, a realtor who specializes in higher-end housing. “Anything under $2-million will sell, but in the last two months, there’s been only one sale over $3.5-million.””

Read the full article here.

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

Anybody here tired of these LGBQT politics…

Do we need to know peoples %$#@& preferences ….(other than SIDA….. whose is obvious )

Otherwise..I have a lot of jokes to post…

Best place on meth
Member
Best place on meth

No I don’t give a fuck about identity politics, although I’d love to attend a straight pride parade just for the giggles.

xhistory
Guest
xhistory

Here is my favorite all time joke:

In 1962 there was only one woman in Canada of breeding age, not pregnant or nursing a new born. She was 19 and living on Saturna island.

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

The facilitator at my LGBT youth group in the 90s in Vancouver was forced to resign back then because of alleged sexual misconduct against an LGBT youth on a field trip. The GLC (aka The Centre aka Qmunity) covered it up. The facilitator was Matthew Martin and he was on the cover of either the Province or the Vancouver Sun back in the 90s talking about the LGBT youth group he facilitated. That article is how I found out about the GLC and started going. The gay community in Vancouver covered it up in the 90s! Shame! Times Up! Me Too! Down with the double standard!

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again
Alex Jones’ Infowar was probably deleted because he was starting to raise a big stink about Pizzagate and the Podesta emails that use the word “pizza” as a code for sexual assault that allegedly occurred at a Pizza restaurant named Comet. That’s actually old news but there are new revelations coming out on the dark web that basically allege the entire Hollywood industry and the political world are run by a cabal of pedophiles. Jimmy Saville was only one and his crimes are well documented now. There are questions about Tom Hanks because if you look at his instagram, he is constantly posting pictures of solitary gloves and shows. Oh and apparently some women is saying he raped her when she was 13. I have no idea of any of this is true. It’s all just allegations that are circling… Read more »
Shut It Down Already (original)
Guest
Shut It Down Already (original)

You know somebody died at that restaurant because of some fucking idiot just like you?

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again
That is an outrageous slanderous comment to imply I am responsible for someone’s murder. I am relaying a conspiracy theory and speculating why Alex Jones channel was taken down. I am not even endorsing the conspiracy theory. I don’t know if it’s true or not. But with the overreaction on Alex Jones it actually makes you wonder and almost gives credence to his conspiracies. I have an inquisitive mind and I am paying attention to disparate sources and I am skeptical of them all. It’s comments like yours that put a chill on free speech and critical thinking because people are afraid if they go there they will be met with ridiculous accusations, like being held responsible for someone’s murder in a foreign country. I don’t know if the conspiracy theories are true or not, but I give them a… Read more »
Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

I also want to say that when I first started going to the LGBT youth group at the GLC, they had a library with LGBT literature. And they did have NAMBLA literature there. So it’s not a right wing conspiracy theory that NAMBLA was part of the LGBT movement in early days. I remember adults at the youth group even talking about how some people view it natural and normal for an older gay man to have sex with a gay teen to show him the ropes, so to speak. NAMBLA tried to normalize that and there were some elements in the broader LGBT movement that went along, up til the mid-90s. In mid-90s, the movement started going mainstream and one day all the NAMBLA literature at the GLC was gone.

xhistory
Guest
xhistory

You’ve all been to a West Coast beach? A mix of gravel and sand, even large bolders here and there. Driftwood in varies sizes and lengths line the high tide shore.

Enjoy a day at one of these places, the Sun is shining, and maybe you pack a patio umbrella.. I dont bother

The driftwood can be constructed to make temporary shelters. You’ve all seen these things, some beaches they are every 50 feet.

Be sure to mark your occupation at one of these places by raising a ‘flag’ on a makeshift pole. When you leave, take your ‘flag’ down, so others can see it unoccupied, and available.

Make sure to train the children on the beach this protocol. Have a great holiday.

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again
I am seriously PO-ed that Alex Jones Infowars Youtube channel was deleted. All the MSM reports today have headlines about some content from his facebook page being deleted. Um, that’s old news. The new thing that happened today is his Youtube channel that he has built up for I think the past 15 years was deleted. His youtube channel did not have hate speech. He was a little over the top dramatic and theatrical. His channel is part alt news and part entertainment, so you have to be able to get it. Everyone who cares about free speech should be concerned. VCI has WAY more hate speech that Infowars ever did. The word “locuts” is a racial epither and people throw it around here all the time. Alex Jones never used racial epithets but his channel has been off-ed for… Read more »
Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again
In the 1990s when I was a closeted gay teen growing up in the City of Vancouver, I started going to a youth group for LGBT teens called Gab. It was run out of what was then called the Gay and Lesbian Centre at Davie & Bute. It was later renamed The Centre and now it is called Qmunity. In the mid-90s, the adult facilitator of the group was forced to resign in disgrace and apparently went into hiding because he disappeared without a trace. This happened after an out of town trip that the faccilitator chaperoned with LGBT youth and they stayed at a hotel and of the gay youths alleged some kind of sexual impropriety on the part of the adult facilitor. I knew the alleged victim personally. It rocked our youth group. And it was totally silenced… Read more »
Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

Correction: ONE of the gay youths alleged sexual impropriety. I knew about it because the alleged victim was my friend at the time.

bullwhip29
Guest
bullwhip29

so the city of Richmond spent more of our money and likely wasted countless hours putting this map together which shows the locations of some of the “legal” b&b’s in Richmond.
https://maps.richmond.ca/BnB/

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

Only reason Govt give a shite about suites, AirBnB etc is they hate missing out on CA$H GRAB$.

WTF is the REAL difference with EIs etc have large families under one roof VERSUS suite(aka affordable housing) and Air BnB etc.

PS how about Firemen and the moonlighting they do on off days and compete with civilians for work.

The End

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

The difference is that an illegal suite may not conform to code and could be a safety issue. Are you that dumb?

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

Sure SIDA.
…..famous last words throughout history are:

……. Hi Im from Govt and I am here to help you..( aka bend over)

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

Yes, I’m sure developers would install sprinklers out of the kindness of their hearts if there were no regulations.

Name
Guest
Name

And all the double dipping transit cops.

bullwhip29
Guest
bullwhip29

under a bylaw approved by Richmond city council in March 2017, bed and breakfasts are only allowed in detached homes. Hosts may only rent up to three rooms to up to six people in total

>>> so who here thinks these 2 so called legit businesses are complying? lol…
7520 Steveston Hwy (licensed as the Arica Funhouse)
10660 Westminster Hwy (even goes so far as to indicate owner operating 4 room bnb, but a quick check would reveal way more than 4 rooms are used)

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

Richmond Councillor Carol Day is operating a hotel out of her home…..

Name
Guest
Name

We need to see the real map. You know, the one showing the thousands of illegal locations.

bullwhip29
Guest
bullwhip29
kabloona
Member
kabloona

Uh-oh…..

“Vancouver, Toronto housing slowdown takes toll on Canada’s economic growth”

https://www.theglobeandmail.com/business/article-slowdown-in-home-resales-in-toronto-and-vancouver-affects-canadas/

“Falling home sales in Toronto and Vancouver this year are reverberating throughout the economies in both regions, pulling down broader economic growth in Canada.

Residential real estate activity – including resales of existing homes, construction of new homes and home renovation – accounts for about 7 per cent of national gross domestic product on a direct basis, and a significant drop in resale activity this year is cutting GDP growth forecasts, economists say. The spinoff effects of a real estate slowdown, such as reduced spending on furniture and appliances, will amplify the impact…..”

Name
Guest
Name

Lance Bass tried to buy home featured in ‘Brady Bunch’

https://www.news1130.com/2018/08/06/lance-bass-tried-to-buy-home-featured-in-brady-bunch/

But the ‘N Sync singer posted Saturday on Instagram that the deal fell through. Bass wrote he was “heartbroken” to learn a corporate buyer wants the house “at any cost.”

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

Which Brady.
…….Tom or James….

xhistory
Guest
xhistory

Is it a house or museum?

Name
Guest
Name

The weird thing is they only used the outside image but the inside was on a sound stage so it wasn’t really their “house” it was just some random house that was picked because it looked “middle class”.

Name
Guest
Name

New federal probe opens on P.E.I. immigrants alleged to have used fake addresses

https://www.news1130.com/2018/08/06/new-federal-probe-opens-on-p-e-i-immigrants-alleged-to-have-used-fake-addresses/

when there is a group of people who see nothing wrong with lying and cheating then this is what happens ….

Best place on meth
Member
Best place on meth

Don’t worry, it’s just a few bad apples. Only around 1000 in this single case.

They’re still the best immigrant group ever!

bullwhip29
Guest
bullwhip29

who here thinks this is only happening in Charlottetown and Richmond? imho this horse$hit is taking place in dozens, if not hundreds of locations across the country…

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

Main difference is PEI pumpkins are booby-trapped..

Oracle
Guest
Oracle

So it begins;

Many sites are being completely wiped off the internet. Only a matter of time until this one is. The SJW minions and 1% elite have complete control over media now. Info- has been wiped of the face of this earth.

realist
Member
realist

Oracle, your concerns about information might meet with skepticism, but they are not lightly dismissed. No less august a body than the Council of Europe has declared “information disorder”, including disinformation, to be a serious issue, and is attempting to define and address it. (We shall leave aside for the moment the view held by some that the Council of Europe itself an adept practitioner of same!)

https://www.coe.int/en/web/freedom-expression/information-disorder

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

They’re not being “wiped off the internet” they’re being removed from platforms which have explicit terms and conditions that prohibit their hateful content. There’s no conspiracy, they’re just enforcing the rules which the sites originally agreed to and then chose to ignore.

Pick a side.

Just me
Guest
Just me

Right. Who defines hateful? You?
If one states that rich families from China are a significant force in RE valuations in Vancouver, is that hateful or racist?
I am sure some people would be horrified by the simple statement of facts and figures. Does that mean that certain facts cannot be mentioned?

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

I’m not surprised you’d defend hate speech.

These shameful sites have the option to host their toxic crap on their own infrastructure. Google are under no obligation to let them continue to use YouTube. Good riddance.

Just me
Guest
Just me

I am neither hateful nor racist. I am just a person who dislikes opportunistic behaviour and barefaced lying.

Best place on meth
Member
Best place on meth
Google has no moral high ground, they have just sold their soul to the devil. https://theintercept.com/2018/08/03/google-search-engine-china-censorship-backlash/ The Dragonfly project was launched in spring 2017. Since then, small teams of Google engineers have been developing a custom Android app, different versions of which have been named “Maotai” and “Longfei.” The app has been designed to filter out content deemed undesirable by China’s ruling Communist Party regime, such as information about political opponents, free speech, democracy, human rights, and peaceful protest. The censored search will “blacklist sensitive queries” so that “no results will be shown” at all when people enter certain words or phrases, according to internal Google documents. Human rights groups responded to the revelations with a chorus of condemnation. Amnesty International issued a statement calling on the internet giant to abandon the plan. “It is impossible to see how such… Read more »
No Chump
Guest
No Chump

Do us all a favour and wipe yourself off this site, Oracle. That would definitely be a “start”.

bullwhip29
Guest
bullwhip29

City of Richmond to provide only paramedical services such as those found in traditional Asian and holistic medicines, dietitian services and other related services” at the new Minoru Centre for Active Living
https://www.richmond-news.com/news/city-of-richmond-rubs-longstanding-business-the-wrong-way-1.23389948

>>> as Mayor Brodie can surely attest, those other “services” being provided must leave many with big smiles on their faces…

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

Brodie only goal is the become the longest serving Richmond mayor..which he will become if we wins again.

Lawyer Brodie is a bully towards Richmond Council…he uses his Lawyer $5 words to intimidate Council so they generally STFU…
Brodie has also tied his cart to ALR house size issue(along with Steves and Day )…which is strange..given Chinese and EIs are pissed off re this issue.

Richmond Council is bifurcating..it appears Johnson and Au will belong to a new party.
Chinese community will be catered to…and they will also field a number of candidates.
My guess is Chinese will make serious inroads this time, if nothing else than vote -splitting.

Regardless..Richmond is screwed either way..

bullwhip29
Guest
bullwhip29

Telus and its joint-venture partner Westbank selling new Vancouver headquarters building in deal that was likely the result of an unsolicited offer that was too good to refuse but did not name the buyer or indicate the sale price
https://theprovince.com/business/commercial-real-estate/telus-and-partner-sell-telecoms-new-vancouver-headquarter-building/wcm/12f5bd81-cf50-4e05-8fe7-c53ba09f6498

patriotz
Member

“Telus built the 24-storey, high-tech office tower with joint-venture partner Westbank Corp. as part of a $750-million redevelopment of most of the block of Richards Street from Georgia to Hornby that included a 53-storey residential building.”

Hornby is the street between the Hotel Van and the VAG, several blocks west of Telus Gardens. Was this story written by anyone familiar with Downtown Vancouver?

Best place on meth
Member
Best place on meth
Oracle
Guest
Oracle

He is another Garth Turner.

Name
Guest
Name

because he doesn’t follow your script ?

Oracle
Guest
Oracle

Go ahead. Consider him and GT gods then.

Specuskeptic
Member

This is one of many examples of why Boracle needs to be ignored. 1) He’ll make an assertion (usually ridiculous). 2) Someone counters it 3) He comes back with a strawman.

At no point did Name assert that Saretsky and GT are gods, yet, Bullshitsicle’s reply asserts that to be Name’s assertion. There is no discussing anything with him without him putting this ridiculous frame on it. The easiest and most effective way to deal with him is to ignore him. He will eventually go away if ignored….

Food for thought.

Oracle
Guest
Oracle

Ok genius. 80% of your peers are doing better financially than you in life and probably own a home and yet you still think your are smarter than most. LOL

Oracle
Guest
Oracle

And I’m not the realtor or guys flipping houses and owning multiple property.

realist
Member
realist

“Housing Bubbles Are Dangerous, That’s Why Canada is Finally Trying to Tamp Down on Them. And the US?”
by Wolf Richter Aug 4, 2018 Wolf Richter with Jim Goddard on “This Week in Money”: 35 to 47 min.

https://wolfstreet.com/2018/08/04/housing-bubbles-are-dangerous-thats-why-canada-is-trying-to-tamp-down-on-them-and-the-us/

A financial blogger in San Francisco compares and contrasts the Vancouver and San Francisco markets.

Just me
Guest
Just me

Wow. People are finally realizing that resources should be channelled into productive investments, rather than idle housing speculation. What next? Politicians who actually shift the tax burden on land rather than businesses and labor?

Name
Guest
Name

Racist vandalism on “Crazy Rich Asians” bus stop sign

https://www.news1130.com/video/2018/08/05/graffiti-targets-asian-community-in-vancouver/

now the SJW are up in arms over this overt “racism” blaming the BC Government playing the “RACE CARD” maybe these asians flaunting their greedy wealth should get the message that most other people don’t like these greedy pricks who are changing Vancouver for the worse and we see this greed everyday.

I wonder how many people the reporter asked about the sign because everyone on the interview thought the so-called vandalism was bad but i’m sure many others would think the message was true.

Just me
Guest
Just me

The director Kevin Li has no shame. He should reprimanded for his race baiting. First, he films a documentary following the lives of filthy rich kids who disregard common sense and good taste, living like self-absorbed prick in a city where many people struggle to put a roof over their heads. Then he claims that people are racists because they criticize the filthy rich kids because of their Asian background.

All this from a guy who put the word “Asian” in the title of the documentary.

Kevin, you should hang your head in shame. THis is not about being Asian: the problem is the horrible behaviour of the filthy rich sprouts who spend the money of their parents with no regards or sensibility,

Best place on meth
Member
Best place on meth

You had me at “Kevin, you should hang…”

patriotz
Member

The guy doing the complaining on camera produced a TV “reality show” about “Rich Asians” i.e. he’s been exploiting the very stereotypes behind the graffiti. I’ll give you the advice that using term “SJW” just because you don’t agree with someone does not add weight to the argument.

https://ca.linkedin.com/in/kevin-k-li-69404731

Name
Guest
Name

Yes I know who he is, I was using SJW in a broader sense. People need to have more critical thinking skills rather than just throw out the racism card after any criticism of any identifiable group and think about the message behind their behaviour like in this case how are they portraying tihem selves to the world? There are people barely surviving in Vancouver and then there is this group flaunting their wealth. It’s no wonder that others are disgusted by it.

Name
Guest
Name

I would like to add that this is not ‘racism’ against all asians but it is a protest against attitudes by some asians for promoting a materialistic lifestyle in their own community. Maybe they should not be so quick to play the race card but instead take a good long look at how some of them are portraying themselves to the rest of their community and the general non-asian communities they live among.

Just me
Guest
Just me

The point is that people are fed up with the bad behaviour and untouchable status of some young people who use money from abroad to lead a life of shameful abandon and disregard for basic social norms or respect and self-constraint.

This was never about race, but many people benefit from the fact that any hint of racism will shut down the conversation and perpetuate the inflows of money. Nobody is more upset about the current state of affairs than the many honest Canadian of Asian heritage, who have to witness these young millionaires making a bad name for their ethnic group. They are furious, and rightly so. This is about money and behaviour, not race.

Best place on meth
Member
Best place on meth

China’s Summer of Discontent

https://www.project-syndicate.org

Five months ago, when the Communist Party of China freed President Xi Jinping from term limits, the conventional wisdom was that his dominance within the Chinese party-state was so strong that his authority could not possibly come under attack. How things have changed.

At the time of Xi’s announcement, the conventional wisdom was that his dominance inside the Chinese party-state was virtually absolute, and thus that his authority could not possibly come under attack. Xi is now facing the worst summer since he came to power in November 2012, characterized by a steady stream of bad news that has left many Chinese – and especially Chinese elites – feeling disappointed, anxious, angry, helpless, and dissatisfied with their increasingly powerful leader.

Oracle
Guest
Oracle
So I was correct again when I said we were at peak inventory a week or two ago. Was an extreme challenge trying to convince people here. Now my next challenge is 2 fold but I will face opposition. Here they are: 1). This correction needs to happen fast and furious. What the NDP is doing by their inaction is allowing a slow drawn out process. Why don’t I like it? Because it won’t work. 50,000 new permanent immigrants and probably another 50,000 temp residents are coming here each year. This will obviously put pressure on rents. There will also come a time when these people jump back into the market with foreign money and this ignite local FOMO etc. So my conclusion is NDP never wanted a price correction. They are liars. 2). NDP will try to sabotage the… Read more »
Bag it and tag it
Member
Bag it and tag it

Even if you were right, it’s not cool to brag about it, so it’s even more of a douche move to brag about being right when you were wrong.

Oracle
Guest
Oracle

Don’t get me wrong here. I’m on the same side and want to see a huge correction or crash in prices.

But I hate it when people here cheer insignificant factors thinking that ‘this is it’ mentality. How long has it been going on for now?

What this does is it takes away the push for more change as the minions rest on their laurels thinking ‘this time it’s different.’

Well no it is not. I don’t see any huge policy brought in by the NDP to curtail it. And Trudeau policy is still wide open borders.

Only a matter of time before FOMO picks up again. You guys need to pressure the government. Not keep saying a mythical crash is upon us.

Best place on meth
Member
Best place on meth

You’ve proven nothing, oracliar.

Inventory will pick up again after Labour day and peak in Oct.

Oracle
Guest
Oracle

Ok so it goes to 13,188. Lol. You win. It’s gonna crash in early October guys. Sarcasm.

FFS, inventory peaking at that level won’t cause a crash or correction.

Best place on meth
Member
Best place on meth

Wrong again, abhoracle.

The worst sales since 2000 and falling prices show that a correction is already underway.

Oracle
Guest
Oracle

I wish it were true. But I just don’t see it with the numbers and policy brought in.

Dave
Member

Maybe. It could go higher in September and if it does, we should see a strong first week of listings. But there is a good chance we’re past this years peak.

The NDP deserves credit for acting. Who knows if it’s too little or too much. I’m not so sure yet.

Bag it and tag it
Member
Bag it and tag it

If the policy changes that are made are common sense and in the long term best interest of the city and province, then there’s no such thing as ‘too much’

Dave
Member

I disagree. A housing correction of more than 15% will carry over to the rest of the economy is a very significant way. Imagine what a 30% correction would look like. It would be devastating to a large number of people. That would include the people hurt most by the housing crisis. What good is a 30% sale on housing if you don’t have a job or good economic prospects?

This is the reason this housing bubble is so insidious. Damned if you do, damned if you don’t. There is no easy path out of it.

patriotz
Member

” Imagine what a 30% correction would look like. ”

I don’t have to imagine it, I was around for one. But I worked in a sector which had nothing to do with RE. More people are directly or indirectly employed in RE today, but I ‘m pretty sure it’s still a minority. And I don’t buy the argument that the people hurt most by the housing crisis work in a RE-related sector.

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

Even if inventory is only 20 units higher in September I’m sure the alpha douchebag will be doing a dance around the end zone.

franko
Member
franko
C’mon Dave, you strike me as a fairly intelligent person, so what’s there not to be sure about. There will always be the odd Baghdad Bob determined to pump his BS to the bitter end, but anyone with a lick of common sense should realize by now that this market is toast. Every single thing that has helped to fuel the bubble over the last 10 years has ground to a halt: -HAM is so totally dead -Int rares are on the way up -Demographics (more boomers will need to unload their properties to fund their retirement) -Cheap money will be history come renewal time -The stress test will keep FTBs out of the market -With foreign money gone, it would take the average local buyer 21 years to raise a down-payment for a house, even if they were dumb… Read more »
franko
Member
franko

Meant to say that we won’t escape the next recession that easily as dumb-ass Justin has already see to that

franko
Member
franko

Maybe time to consider mandatory IQ tests for potential heads of state.

Dave
Member

The Conservative election attack ads should say he’s still not ready. It’ll actually work this time.

patriotz
Member

The Conservatives’ biggest problem is not anything to do with Trudeau or Scheer. It’s that the Liberals have never lost a federal election where the NDP has done badly. The latter are heading for disaster in the next election and the LIberals are going to pick up most of the votes they lose. That’s what the byelections are saying and next up is Outremont.

kabloona
Member
kabloona

Agreed……Jagmeet is broke.

Also I think he’s a non-starter in Quebec….

Oracle
Guest
Oracle

Just say it. White folks everywhere except Vancouver and Toronto are not going to vote for a turbaned guy.

kabloona
Member
kabloona

Nope….it’s just that Quebecers have an intense dislike for displays of religious belief with respect to Politics….

“Jagmeet Singh’s Quebec problem – In a province where suspicion of religion in politics is a progressive impulse, the NDP leadership hopeful is facing an uphill battle ”

https://www.macleans.ca/politics/ottawa/jagmeet-singhs-quebec-problem/

Dave
Member

Ya that’s a good point. I predicted two terms all along I think that’s how this plays out. He’s going to lose seats though and maybe even get a minority.

Dave
Member

Three years of Trudeau and Stephen Harper has never been so popular. He’d probably win a majority if he came back now.

Harper was the best PM in our lifetime IMO. I’m embarrassed to say that I almost voted for Trudeau. He’s down with Mulroney as worst PM in my lifetime.

No Chump
Guest
No Chump

Come off it, Dave. Harper is a psychopath in the truest and most clinical sense of the word. Along with you pal, Trump.

kabloona
Member
kabloona

My favourite…..

“6 charts show Stephen Harper has the worst economic record of any Prime Minister since World War II ”

http://pressprogress.ca/6_charts_show_stephen_harper_has_the_worst_economic_record_of_any_prime_minister_since_world_war_ii/

patriotz
Member

“Three years of Trudeau and Stephen Harper has never been so popular. ”

Among your own circle, or can you point us to some independent polling?

“Harper was the best PM in our lifetime IMO”

For anyone in the RE business, he certainly was.

Dave
Member

I see it all over. Yes, it’s a self selected circle but my circle is pretty balanced.

Name
Guest
Name

I would vote for Harper again. Harper was not perfect butTrudeau is ruining us.

Best place on meth
Member
Best place on meth

I would vote for electoral reform like Turdoh promised but reneged on, so that we never have to choose between a douche an a shit sandwich again.

Bring on PR in BC!

Dave
Member
Despite all that, condos are still in a sellers market and townhomes are balanced. It looks like prices are headed down but it’s not looking catastrophic at this point either. It’s a mixed market out there. I just lost on a bidding war for a house a couple weeks ago as an example. I went to a few open houses today and it was totally dead. Not another person in sight and I was the only person to have come in the first hour. I looked at another house a few months ago and it’s now off the market. I called to realtor to see if it sold and they were planning to relist in the fall. In the meantime the realtor said just make an offer of anything. My goldilocks outcome would be a 15 – 20% correction and… Read more »
Oracle
Guest
Oracle

Yeah, I hear you. I’m hoping but for a $300,000 correction in Surrey detached with suite but looks like not happening. Wishful thinking one my part. The suite income will always rise with rents so should take care of rising property taxes and bills.

I’ll end up buying in the winter if I don’t see any new policy action coming or referedum fails.

Dave
Member

The referendum is like Groundhog Day. If it doesn’t pass, only six more months of Winter (GreeNDP). If it passes, we get another seven years of Winter. I’ll probably sit on the sidelines until we find out. If the NDP make it fail, they have a good shot at a majority and they’d be smart to trigger an election in April.

Oracle
Guest
Oracle

HAM is not dead – the people are coming. The money will find a way somehow.

Interest rates – not going much higher, look at yield curve.

Demographics- boomers are not going to sell. They will leave houses for their kids. M

Stress test – non factor because of credit unions, 30 yr amortization, liar loans.

Name
Guest
Name

you forgot to include 500,000 immigrants and 200,000 international students.
Wow just Wow !!!

Oracle
Guest
Oracle

It’s 340,000 immigrants and about 150,000 new foreign students each year into Canada.

And about 1 million ten year visa holders and 75,000 suoervisa holders.

Close though.

franko
Member
franko

Forgot to mention that a record number of new condos will be coming on the market next year.
Perfect storm!

Specuskeptic
Member

“It could go higher in September and if it does, we should see a strong first week of listings. But there is a good chance we’re past this years peak. ”

Exactly. Some years in the past, September #s are higher than July – it’s unusual and the exception, but it happens.

To make predictions and come to conclusions with the bravado and confidence the local part-time braggart and full time lying clown does is ridiculous.

Oracle
Guest
Oracle

The ‘lying clown’ seems to be correct.

December will roll around and you will still think you are geniuses. Eventhough market will be the same.

You were bleating the same thing in 2017 when NDP gained power. Now 2019 is just around the corner.

Specuskeptic
Member

Discussing anything with Oracle is an exercise in Pigeon Chess. “Debating [Oracle] on the topic of [real estate] is rather like trying to play chess with a pigeon — it knocks the pieces over, craps on the board, and flies back to its flock to claim victory.”

Oracle
Guest
Oracle

So I should just agree with you guys when I don’t see it your way?

Specuskeptic
Member

“So I should just agree with you guys when I don’t see it your way?”

Masterful Strawman there. In short, no.
1) Don’t make shit up (ie lying)
2) Follow data where it leads.

Once you accomplish these two things, then there’s room for discussion.

Best place on meth
Member
Best place on meth

Oracle = a thousand monkeys on a thousand typewriters.

Nom nom nom
Guest
Nom nom nom

“It was the best of times, it was the ‘blurst’ of times…. YOU STUPID MONKER

Nom nom nom
Guest
Nom nom nom

“Monkey”

Name
Guest
Name

you should go outside for some sun. It’s a nice day out there.

Oracle
Guest
Oracle

Toronto correction is officially over.

Sales up 20% year over year and prices starting to rise.

Same will happen in vancouver. NDP failed us.

Name
Guest
Name

Garth Turner debunked those numbers the other day.
Oh wait, you won’t believe what he says unless it fits your narrative.

Oracle
Guest
Oracle

Garth Turner??? You quoting him????
Hahahaha

Dude, guy lies and keeps buying and selling himself.

Name
Guest
Name

You are the chief liar.

realist
Member
realist

“Some might pray for a house price crash, but be careful what you wish for” from the Guardian, 29 August 2017, but still germane

https://www.theguardian.com/money/2017/aug/29/house-price-crash-price-dublin-economy

“The “priced out” generation believe a crash would return prices to sanity. There would be winners – not least the younger generation currently parting with as much as 60% of their take-home pay in cities such as London, Oxford and Brighton, just to find a place to rent…But they should be careful what they wish for. Across the Irish Sea, Dublin went through the 50% price crash that many pray for in London. But it did not prompt a wave of buying by delighted young adults.”

realist
Member
realist

“UK “Housing Downturn” Pushes Biggest Real-Estate Agency with 10,000 Employees to Brink, Shares Collapse
Blamed: political and economic uncertainty, Brexit, and the very measures designed to tamp down on London’s housing bubble”
https://wolfstreet.com/2018/08/03/uk-housing-downturn-pushes-biggest-real-estate-agency-with-10000-employees-to-brink-shares-collapse/

“Countrywide, the UK’s largest real-estate services group with over 10,000 employees in 900 locations, saw its shares plunge over 60% on Thursday…In a statement to the stock market, Countrywide said its problems had been exacerbated by a flagging housing market, particularly in London. “The prime central London housing market continues to experience low levels of activity owing to political and economic uncertainty, particularly in relation to stamp duty and Brexit, which is felt more acutely in the capital,” it said.”

Selective Memory
Guest
Selective Memory

“Countrywide” is still the company name of choice for real-estate train-wrecks, it would seem.

kabloona
Member
kabloona

“Countrywide is on your side”…..

😀

Dave
Member

Sounds more like the Chinese money has dried up just like Vancouver and Australia. Add in tighter monetary policies and over leveraged consumers and we the recipe for a disaster.

Like the article above states, be careful what you wish for. I think more focus needs to be placed on the end game in all this. Prices are correcting and since real estate is the biggest industry, it’s going to be a self reinforcing cycle. It’s going to effect everybody on the way down.

Oracle
Guest
Oracle

The Chinese money will come back with a vengeance. Wait and see.

Need a deep correction now. Not tomoro.

Name
Guest
Name

“Chinese money will come back with a vengeance”

You wish, you pumper. They have left the building and the money taps are turned off.
We are witnessing a real estate crash as we speak.

Oracle
Guest
Oracle

I thought you were intelligent but now have outed yourself as a minion.

In a crash, inventory explodes AND prices go down across the board.

Hope that little helped you think for yourself rather than relying on garths blog.

Did you know he tried to flip a property for a $1 million profit??

paulb
Member

New
137
Price Change
62
Sold
74
TI:12612

http://www.clivestevepaul.com

Shadow Inventory
Guest
Shadow Inventory

I was wondering if there was a way to calculate the “Shadow Inventory” of the Greater Vancouver real estate market. Since the beginning of the year, new listings have always been higher than sold ones when you look at daily stats. Despite this, the official inventory has peaked at 13,000 and is now going down.

What would the “change in Inventory vs (new listings – sold listings)” graph would look like?

Oracle
Guest
Oracle

Listings expire.

Dave
Member

It would look like a bell curve with the peak in July.

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

It’d be a meaningless number because you can’t distinguish between relists and new lists.

Screwed
Guest
Screwed

Were sales this low last year?

Best place on meth
Member
Best place on meth

No, this level of sales is extraordinary.

Last August sales were 3043, this month would be 1700-1800 based on what we’ve seen so far.

Oracle
Guest
Oracle

Sales?? They can turn on a dime like they are in Toronto.

Prices matter most and second it is inventory (heading down now).

Name
Guest
Name

Sales are not “turning on a dime” in Toronto.
Don’t be a Liar.

Oracle
Guest
Oracle

Just stay quiet. You’re out of your league here.

Name
Guest
Name

At least you didn’t call me “son”

Best place on meth
Member
Best place on meth

Oracle = Foghorn Leghorn