San Francisco Prices on a Columbus Ohio income.

Vancouver seems to be getting a lot of attention right now for the disparity between house prices and incomes:

The median cost of a Vancouver home, adjusted for purchasing power parity, is US$672,000 — costly but still 15 per cent to 26 per cent below that of San Jose and San Francisco, the two most expensive housing markets, according to Andy Yan, director of Simon Fraser University’s City Program, whose study accounted for the difference in buying power of a dollar across geographies and currencies.

What pushes Vancouver to the top of the unaffordability rankings is paltry wages. In Canada’s third-largest city, the median household earns the equivalent of US$61,036 a year — in line with Columbus and less than families in Omaha, Nebraska, Kansas City, Missouri and even Lancaster, Pennsylvania, a rural community of 59,000 known for cornfields.

fortunately the solution is simple: cut house prices in half or double up current household incomes. Read the full article here.

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backwardsevolution
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backwardsevolution

We were told that the Chinese would be a good thing for Canada, and now we are being told that Syrian terrorists are a good thing: “Canada to accept up to 250 Syrian White Helmet volunteers, family after dramatic escape. Canada is among three Western nations that will accept hundreds of volunteer emergency workers that Israeli forces plucked from Syria under the cover of darkness in a dramatic international rescue, CBC News has learned. Several hundred people — volunteers and their families — belonging to the rescue organization known as the White Helmets were extracted late Saturday from the southwestern portion of the war-torn country that’s being overrun by forces loyal to leader Bashar al-Assad.” http://www.cbc.ca/news/politics/syria-russia-white-helmet-1.4749380 Award-winning journalists have come out repeatedly to say that the “White Helmets” are not volunteers (they’re paid by Western governments) and they are not… Read more »

YVR
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YVR

You got what you voted for. Pretty much they said they would do this from day one. Open borders. People sure are stupid. The change they vote for is change for the worse.

backwardsevolution
Guest
backwardsevolution

YVR – who said I voted for him? He’s done.

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

Not unless the people vote!

Change isn’t looking so good is it?

Oracle
Guest
Oracle

Ok guys, got to go. I’d had my laugh and entertainment here for the weekend.

For real info, visit a mainstream site.

Name
Guest
Name

Buyers turn to letters to snag homes in Canada’s hot real estate markets

https://www.news1130.com/2018/07/22/buyers-turn-to-letters-to-snag-homes-in-canadas-hot-real-estate-markets/

I had to double check the date of this article because it seems to reflect the way things were two or three years ago, but not now. This is probably just realtor BS trying to hype the market.

Oracle
Guest
Oracle

Until I see prices drastically lower in the sub $1 millions, I’d rather believe them than some armchair crystal ball I feel it armchair economist on some fringe blog.

The stats are probably right in this case as prices in Valley at record highs.

Name
Guest
Name

well at least you didn’t steal my “wake me up when …” line.

Oracle
Guest
Oracle

It’s almost the Fall of 2018. 2019 just around the corner.

No NDPer insiders have sold their 2nd homes. But but but the NDP is going to correct the market next year.

NOT!

Ridesharing stopped in its tracks. Trevana just openly lied. And you trust these folks? They just lost all respect. They are no different than the Liberals.

YVR
Guest
YVR

Inside B.C.’s shameful failure on ride-hailing

It’s a double broken promise by John Horgan’s NDP government that’s inflicted a double-whammy on Vancouver’s economy and international reputation. That’s the view of the city’s business leaders after the government broke its promise — again — to deliver ride-hailing services to Metro Vancouver.

https://theprovince.com/news/bc-politics/mike-smyth-inside-b-c-s-shameful-failure-on-ride-hailing

Oracle
Guest
Oracle

And you have Weaver sitting on sidelines.

NDP doing everything it can to make the referendum fail.

Selective Memory
Guest
Selective Memory

The taxi industry is a poorly regulated supply management system that has festered for years under governments of every stripe. Uber is a quasi-monopoly that has barely begun to fester, and already its nature is clear: it exploits market dominance created by network effects to crush competition, evade regulation, buy off legislators, and grind its workers, while siphoning money out of local economies around the world to further enrich already obscenely wealthy digerati. I think we’re supposed to call this ‘the sharing economy’. Communities need to create a non-profit version of Uber that retains local control, is amenable to local regulation, with the participation of the local workforce. The fees should be minimal and retained in the local economy. They should open-source it so any city or municipality in the world can adopt it, since wide-spread availability would be necessary… Read more »

YVR
Guest
YVR

In other words words we should just go full on Communism.

Oracle
Guest
Oracle

Who said UBer??

LYFT or what anyone can start.

YVR
Guest
YVR
Oracle
Guest
Oracle

Seriously now considering voting No and telling everyone to do the same. Imagine the NDP in power without fear and the corruption they will rack up. The ridesharing racket is unbelievable.

Name
Guest
Name

I’ll vote yes just to piss you off.

Oracle
Guest
Oracle

Just blindly voting YES without analyzing. Ever thought this is why you are in the position you are?

Another minion who thinks the political parties are distinct.

Name
Guest
Name

What position am I in ? Do tell.

Name
Guest
Name

From Wilkinson.
No bias there huh?

Oracle
Guest
Oracle

Are you thinking this is Liberal vs NDP debate here??

This is about NDP breaking promises left right and centre. And the minions too naive to see it.

Name
Guest
Name

The NDP have fulfilled most of their election promises and you should know that.
You are a serial liar.

YVR
Guest
YVR

“The NDP have fulfilled most of their election promises ”

That pretty much sums up that their election promises were a disaster. After they have “fulfilled most of their election promises” we have higher housing prices, record low inventory, higher rents, higher taxes, higher ICBC rates, higher hydro rates and less child care at higher costs. Pretty much proves their plan was flawed from day one. Unless you like higher costs for pretty much everything.

Oracle
Guest
Oracle

Hahahaha. These people here are delusional.

If they’ve fulfilled their promises, then we are at a near bottom on housing.

FFS. The ignorance here. Hahaha

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

Regarding Uber: My personal opinion is that I would never take uber. I would rather just take a traditional taxi. Uber is part of the sharing economy like AirBNB and I don’t like the whole phenomenon. With Uber, some stranger who you’ve met through an app on your phone finds out the address of your home and drives to your home and picks you up in their personal vehicle. My mother always taught me not to get into cars with strangers. There is no way I would invite some stranger I met on the internet to my home to drive me somewhere. There is no way I would trust them. I am no fan of taxis either and I think the taxi monopoly is appalling. But I just wouldn’t trust uber and I think there is the potential for all… Read more »

Oracle
Guest
Oracle

Then use LYFT or other ridesharing companies.

Slava
Member
Slava

Uber is just another race to the bottom scheme, and not worthy of any meaningful attention.

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

So I hearing murmurs that the real estate correction/crash is on in Vancouver. I haven’t seen anything that substantially changes the situation for renters. It’s still harder than ever to find a rental in Vancouver and if you have a cat you can just forget about it. Wake me up when ordinary working people can afford a somewhat habitable rental within less than an hour commute to work. We’re still nowhere near where we were in terms of affordable housing in Vancouver in the 90s (when it was possible to do just what I said–work and rent in Vancouver and not have to make a minimum $100K per year and maybe even have a cat). Vancouver is still a total write off to most working people.

Oracle
Guest
Oracle

Nothing has changed. Rents spiking again because of the foreign student influx at this time of the year.

Prices only down on Detached in Vancouver proper because they’re already so high priced. Everywhere else and strata is at record highs.

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

NDP promise check list ???

bwahahahahaha

Man…people just don’t get it…
BC NDP has the record for losing BC elections…..their MAIN GOAL is to stop this any way they can.

People are being sucked in royally….
NDP goal is to eliminate the existing election process that both got them in office and also purged them from office.

HAS ANYONE LOOKED INTO THIS ?
99.9 % of the population has no clue re: the PR referendum and the details…they are setting us up for an NDP gov’t in literal perpetuity, while their clueless supporters cheer them on.

Why fear PRC??? …we will have their equivalent here.

Oracle
Guest
Oracle

That’s the unknown. Give them PR and these guys will be in power a long time.

And they’ve outed themselves as crooks with the ridesharing and Site C/LNG debacle.

It’s going to be a tough decision but what Weaver does here in the next 2 months will cement my decision to vote Yes or No. if he does what he has been doing then NO vote.

Name
Guest
Name

“they’ve outed themselves as crooks with the ridesharing and Site C debacle…”

Delaying a little thing like Uber makes them crooks huh?
And site C/LNG was the Liberals baby.

You really have to grasp at straws to support your ideology don’t you?
You and YVR should get together. You can fling your shit together like monkeys.

Best place on meth
Member
Best place on meth

What do you mean Yvracle should get together?

They’re siamese twins joined at the brain.

You can’t get more together than that.

Oracle
Guest
Oracle

Actually our thinking coincided with the majority out there. You few here are fringe thinkers.

Slava
Member
Slava

Man you are worried. Relieve somewhere else, as it is clearly not working for you here.

Oracle
Guest
Oracle

It’s the details. Look up Kater App and who owns it.

Oracle
Guest
Oracle

You wish it was delaying. They outright banned them with the legislation.

Hahaha. The minions think this is about Liverals vs NDP.

This is about the lies of the NDP.

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

Magic TI number????

Not sure why some VCI parties think TI of 20,000 is some catalyst for SHTF?

The SHTF is occurring below TI 13,000….

The market is dead..DEAD….
Is it different this time?
There is no price inflation….prices are at the precipice of going into the aby$$ beyond flatlining.

Crucial MOMENTUM is gone….it takes years to build that bubble..which can collapse sooner than later.
Developers and Realtors are in panic mode( how many SOLD signs do you see these days ? )
TI does not reflect the undercurrents…..

Remember : Pumpkins are generally cheaper NOV .1

No Chump
Guest
No Chump

Glad to see you’re finally “on board”, LBNL. About time, too.

YVR
Guest
YVR

“Not sure why some VCI parties think TI of 20,000 is some catalyst for SHTF?”

History tells us that. But as they say it could be different this time.

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

Point is…it IS DIFFERENT THIS TIME..

…..posted TI is misleading..,,,beyond obvious.

Screwed
Guest
Screwed

Surprisingly i saw quite a number of “ sold” ones on Marine Dr today.

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

There will be SOLDs…

…….probably big haircuts trying to cut losses.

Driving around yesterday on West Side and Richmond… saw ONE SOLD …and it was a strata.

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

20K isn’t a magic number. It merely gives context to the morons who think 13K is significant.

Laibach
Member
Laibach

Peak, no peak… who cares? Is that even matter? More interesting development in years to come…

“By their own terms and what Xi enunciates I would argue by definition what they’re waging against us is fundamentally a cold war, a cold war not like we saw during the Cold War, but a cold war by definition. A country that exploits all avenues of power licit and illicit, public and private, economic and military, to undermine the standing of your rival relative to your own standing without resorting to conflict. The Chinese do not want conflict,”

https://www.cnn.com/2018/07/20/politics/china-cold-war-us-superpower-influence/index.html

Oracle
Guest
Oracle

This. Which is why they will build a wall at the northern border.

If China ever gets the upper hand, the western way of life will be extinguished. Let’s not kid ourselves.

USA needs to set China back decades. Fuckers are waging war as per CIA.

Best place on meth
Member
Best place on meth

“The chinese do not want conflict.”

That’s correct, they’re cowards in addition to liars, cheaters and thieves.

Loco
Guest
Loco

Big inflation number yesterday. That reminds me of something that many people don’t realize. The Canadian system rewards debtors and the economy functions on debt and debt is the foundation of the country and if you don’t get into debt like everyone else you are swimming upstream and will never get anywhere. Central banks and governments do whatever they can to have at least 2% inflation every year. Even in low inflation years like the past few years, everyone’s debt has been reduced by 10% because of inflation. If you borrowed $500,000 in 2012, $50,000 of it was inflated away by 2018. https://www.bankofcanada.ca/rates/related/inflation-calculator/ You have to understand debt and inflation and central bank mandates to make sound buying decisions. And please don’t respond with “stagflation” alarmism. That is an infrequent and unlikely circumstance in the US and Canada.

Best place on meth
Member
Best place on meth

You make some very good points, oracLoco.

Very good points.

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

That 10% reduction only works under 0% interest. Mortgage schedules front load the interest, too.

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

The overarching concern is…when will this fiscal house of cards collapse…???

Simply look at Gov’ts and national debts/deficits…can never be repaid…so what’ s the trickle down effect to slaves….err citizens?

Oracle
Guest
Oracle

Site C going to produce 5100 MW of electricity.
Wood Fibre LNG and LNG Canada (plus upstream operations) to require 4800 MW.

Reduced electricity rates for LNG.

$10.7 billion cost of Site C.

can you say skyrocketing hydro bills Batman?? And NDP will blame the Liberals “Site c dumpster fire”. Hahahaha

You NDP supporters are being taken for a ride.

Dyugle
Guest
Dyugle

There are 500 billion GJ of gas in northern BC. Shipping to the US causes at least a 1 dollar discount and right now almost 2 dollar discount. This cheap stranded gas makes the tar sands viable for years to come. Build a lng terminal and raise the price to get 500 billion more dollars into the BC economy. This supplies gas to China offsetting coal use and the higher cost also limits the viability of the tar sands. Please explain to me how this is not the best possible plan for the Earth and the economy?

Oracle
Guest
Oracle

BC residents will get little.

The NDP insiders and insider architects of this deal will get rich.

Foreign interests will get rich.

Locals will pay for Site C and further Carbon tax errr climate change initiatives.

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

Yep..BC will get 4Qd’s over.

Suggest people GOOGLE the Tyee and Andrew Nikiforuk…does excellent analysis of Energy issues…such as Kinder Morgan pipeline…LNG etc.

RE market is going in the shitter…usual next up in bogus economy juicer is mega projects with bullsh*te job and revenue projections.

Just me
Guest
Just me

1 year in, B.C. NDP has completed nearly two-thirds of its election promises
80 platform pledges are complete, 18 remain unfulfilled, while two dozen more are still in progress

https://www.cbc.ca/news/canada/british-columbia/1-year-in-b-c-ndp-has-completed-nearly-two-thirds-of-its-election-promises-1.4751180

Oracle
Guest
Oracle

You believe that BS?

1 year in and you still can’t afford a house.

1 year in and rents higher.

1 year in and no ridesharing, no $400 rebate, no closing Bare Trusts, site C go ahead, KM boondoggle, no one in jail, etc.

Jokes on you for not seeing this shit.

Dyugle
Guest
Dyugle

What was the other choice?

Oracle
Guest
Oracle

There was none.

These political parties are in bed with each other and those that can’t see that (Just Me , BPOM) are enabling this ‘democracy’.

Best place on meth
Member
Best place on meth

That’ why I want PR, the 2 party system is a scam.

Oh wait, why are you against political reform again?

YVR
Guest
YVR

With everything complete now have you bought your house?

Best place on meth
Member
Best place on meth

Why would he buy a house?

Oracle
Guest
Oracle

2 years into NDP rule and you are still thinking more housing action is coming? Jokes on you…

30 point plan blah blah blah

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

Why attend open houses if there’s no intent to buy?

paulb
Member

New
155
Price Change
95
Sold
99
TI:12930

http://www.clivestevepaul.com

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

Inventory lower than yesterday? It’s almost like we’re close to the peak or something.

Oracle
Guest
Oracle

20,000 by Fall. And rises from there.

Just me
Guest
Just me

Last year we were at what? 8000 or so? 9000 even? Whatever way you look at it, the proportional growth in listings is stunning. West side SFHs are taking big price cuts. Volumes are extremely low. I don’t know what it will be like in 6 months but if you buy today you get big discounts.

Oracle
Guest
Oracle

And 5 years ago it was at what 20,000?

You’re delusional if you think 13,000 is high.

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

He thinks market data didn’t exist until he started paying attention to it.

Oracle
Guest
Oracle

One good thing is it’s encouraging that there are lots of mathematically illiterate people out there. Easier to get ahead.

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

It’s not stunning. 13,000 is ridiculously low. Even in years of crazy price appreciation we routinely saw peak inventory far higher than that, and now the market itself is larger. It’s pointless giving data to clowns who are incapable of understanding it.

MOI is generally the number to watch, but again the dimwits here started to ignore that (instead favouring “price changes” or some crap like that) every time it failed to paint the picture they demanded.

Get real
Guest
Get real

In 2012 we were at 20,000 listings by July 31. That did not mark the start of a crash Although the market did plateau for around 24 months after that.. We all know what prices did after that. Get some perspective and look at the archives on this blog:

http://vancouvercondo.info/2012/08/2012-worst-july-since-2008.html

Name
Guest
Name

It’s not 2012 anymore.

YVR
Guest
YVR

Yup 2012 the good old days. I guess that change you voted for was not change for the good.

Name
Guest
Name

BC NDP were voted in on a platform of stopping government corruption and reigning in the housing market. Any unbiased observer (which you clearly are not) would say they have done a good job so far.

YVR
Guest
YVR

The NDP were not voted in. The lost the election for the fifth time in a row. Lost in both popular vote and seats. Corruption through back room deals got them the power they have. You’re dumber than I thought.

Slava
Member
Slava

Uttering the words that the NDP got in due to corruption and back room deals is exactly what today’s spurned liberal party members are sputtering.

And that is exactly why you are a liberal party hack.

Slava
Member
Slava

Yes. The signs of a crash were appearing then in 2012, until the BOC lowered the interest rate twice against all expectation, and that intentionally re-started the ever larger shitshow.

That is the key difference.

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

Rates were not changed at all throughout 2012.

Slava
Member
Slava

Did not write that BOC lowered in 2012. There was relative stagnation until they lowered in 2015, twice.

Best place on meth
Member
Best place on meth

Anyone who dismisses a 50% year over year increase in inventory as insignificant is either stupid or has an agenda.

YVR
Guest
YVR

It is the 3rd lowest inventory in the past 20 years with a larger market. You sound like a realtor trying to spin the stats.

Best place on meth
Member
Best place on meth

Read what you wrote and get back to me about stat spinning.

YVR
Guest
YVR

Is 13000 a bearish or bullish inventory number? History says bullish. Sure it is less bullish than last year but still bullish. It just shows your desperation for “good news” under this failing NDP regime. Inventory is at historically low numbers under the NDP. No other way to spin it. But nice try.

Just me
Guest
Just me

You can always vote for the corrupt and pei-millionaire BC Libs.

Under their watch the market went hyper and in entry tanked to 8k.

Remember recent history?

Oracle
Guest
Oracle

You are the problem with society. Totally naive.

All the parties are in bed with each other and minions like you enable this.

When people criticize the NDP, it’s doesn’t mean they are Liberal hacks.

Get a brain.

YVR
Guest
YVR

I remember cheaper housing prices, higher inventory, lower rents and lower taxes when the BC Liberals were in power. The good old days.

Just me
Guest
Just me

You should go and ask realtors what is happening with prices on the Westside. Discounts abound. Prices are lower than what was the case last year or in 2016.
VREB figures are not a good representation of the local Westside market. If you think I am lying, go and ask people you trust. The correction is already happening on the Westside.
Whether it was the NDPO or not, I have no idea. But prices are coming down.

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

No need to ask for stories, we have actual data remember?

Oracle
Guest
Oracle

I seriously think some on here are intellectually challenged. They think having the ability to post grammatically correct sentences makes them a genius. Hahaha

Inventory extremely low. And no effect on prices for the working class. Only effect is top end. Meanwhile at least 75,000 people pour into the region every year.

The worst part is some here think we are punters and realtors. Couldn’t be further from the truth.

Loco
Guest
Loco

What do you define as significant? During Great Depression II in 2008-2010, the average price went down 20%. In 2012 with way hire listings (20,000 by July 31st, 2012), the market was flat for 2 years. Will this change in the market be worse than during Great Depression II when giant financial companies were going insolvent around the world?

Best place on meth
Member
Best place on meth

I define a 50 percent year over year increase increase in inventory as significant, didnt I just say that?

DUH

Oracle
Guest
Oracle

Insignificant in prices on entry level stock doesn’t go down.

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

It’d be significant if it were 20,000 to 30,000, but it’s not.

Oracle
Guest
Oracle

They don’t like to look at the overall graph. Just localized inflection points. Lol

Oracle
Guest
Oracle

Demand is different. Any local slack or downturn is quickly made up many times over by recent immigrants funnelling on foreign homes and buying over and over.

Because they expect anothe million people here.

Oracle
Guest
Oracle

Wrong. You don’t understand numbers.

Did you know the FED when it started raising rates increased them over 100% in a single day.

Wasn’t that huge???

Learn numbers. And Math. 13k is extremely low and we are at peak. Unless you think inventory goes up forever in a straight line.

Best place on meth
Member
Best place on meth

The twat’s calling the top!

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

Of course, I forgot to account for your stellar track record here when it comes to RE predictions. I do hope you’re enjoying that one bed condo.

Best place on meth
Member
Best place on meth

YOU’VE BEEN WRONG FOR 10 YEARS!!!

SQUUAAAWWWKKK!!!!

10 YEARS!!!

RRAAWWWRRKKK!!!!!

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

You’re clearly happy in your ignorance.

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

Is SIDA over 9 years old ?

Slava
Member
Slava

Probably too much soy, so low testosterone, and lack of self belief.

Slava
Member
Slava

I am sure that you’re enjoying your one bedroom condo:)

Oracle
Guest
Oracle

You tell em. Wait until inventory goes up to 12,931. We will laugh him out of here.

Real fun begins when inventory hits 12,932.

realist
Member
realist

“L.A. Mansion Features Its Own Shark Tank—Will a Buyer Bite at $35M? Developer Ario Fakheri hopes that the world’s only residential open-air shark tank will lure in a buyer willing to spend $35M for his latest project” from SFGATE, July 17
https://www.sfgate.com/realestate/article/mansion-la-shark-tank-Ario-Fakheri-open-air-13073959.php?utm_source=sfgate&utm_medium=hp&utm_campaign=celebhomesautorandcoll

“Spec homes in Los Angeles are engaged in an elaborate game of “Can you top this?” It’s no longer enough to have a negative-edge pool overlooking the city, a walk-in closet with a champagne bar, or a second kitchen for the catering team. To that end, developer Ario Fakheri hopes that the world’s only residential open-air shark tank will lure in a buyer willing to spend $35 million for his latest project… ‘It’s a pretty insane house,” says listing agent Sam Real’ “

Laibach
Member
Laibach

Lot’s of people trying lately to unload the shit but it isn’t going as expected. This one is interesting for a certain type of customer, either a mafioso who like his opponents being eaten alive by a shark or “well to do Chinese” who admires his shark fin soup fresh.

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

You should see what $35 million gets you in Vancouver!

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

Surrey ????

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

Bridget Bardot, Pamela Anderson, PETA, give or take a Johnny Depp will protest over the shark.

Hopefully, they will “dive in” .

southseacompany
Member
southseacompany

“Today’s robust reading on Canada’s economy boosts expectations of more rate hikes to come this year”, National Post

http://vancouvercondo.info/2018/07/san-francisco-prices-on-a-columbus-ohio-income.html

“The consumer price index recorded an annual pace of 2.5 per cent in June, the fastest year-over-year acceleration since 2012”

“The reports, a reverse of last month’s disappointing sales and inflation data, will bolster expectations for continued interest rate increases this year from the Bank of Canada.”

southseacompany
Member
southseacompany
Name
Guest
Name

Here’s a list June inflation rates for Canadian provinces, territories
The Canadian Press, at 08:07 on July 20, 2018

OTTAWA – Canada’s national annual inflation rate was 2.5 per cent in June, Statistics Canada says. Here’s what happened in the provinces (previous month in brackets):

— Newfoundland and Labrador: 2.3 per cent (1.8)
— Prince Edward Island: 2.9 (2.4)
— Nova Scotia: 2.2 (2.3)
— New Brunswick: 2.2 (2.1)
— Quebec: 2.0 (1.7)
— Ontario: 2.4 (2.3)
— Manitoba: 2.7 (2.7)
— Saskatchewan: 2.7 (3.0)
— Alberta: 2.8 (2.6)
— British Columbia: 2.7 (2.7)

inflation nudging almost 3% in the western provinces. More interest rate hikes will come.

Doomcouver
Member
Doomcouver

Everyone will soon get to see how little the BoC cares about keeping house prices aloft. They’re tasked with stoking the economy and managing inflation, and that’s pretty much it. By the time the housing collapse starts to kill economic activity, and the BoC has a mandate to act, the damage will already have been done and they won’t be able to put the genie back in the bottle.

Oracle
Guest
Oracle

Completely disagree.

The difference in opinion arises from the notion that I think ‘Rome’ is corrupt all the way to the top.

There is no independence at BoC. They can be bought and likely have been. They will keep rates low for housing, developers and banks.

Only reason for last rate hike was to support the currency so as to not upset Trump during trade negotiations.

oopswediditagain
Guest
oopswediditagain

Let’s see: Support the largest market in Canada or placate Trump when Nafta negotiations are going nowhere anyhow. Hmmmm

“Toronto home prices see biggest drop in almost 30 years”

https://business.financialpost.com/real-estate/toronto-luxury-home-sales-tank-from-last-years-record-pace

Just me
Guest
Just me

“Sales of detached homes in and around Canada’s biggest city fell 46 per cent in March from the same month a year ago, while the average price fell 17 per cent to $1.01 million, according to data released Wednesday by the Toronto Real Estate Board. That dragged down the average selling prices for all housing types by 14 per cent from a year earlier to $784,558, the biggest drop since 1991.”

Slava
Member
Slava

You can disagree all you want, it’s happening. Your party is over.

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

And rates were increased shortly after those numbers were established. The next set of data will include the initial impact.

Slava
Member
Slava

Awesome!
Needs to get to 10%.

Name
Guest
Name

If Trump takes on the Fed it will be the last thing he ever does.
Look at what happened to JFK when he tried.

southseacompany
Member
southseacompany

“Dick Bove: Trump poised to take control of the Federal Reserve”, MSNBC

https://www.cnbc.com/2018/07/20/trump-poised-to-take-control-of-the-federal-reserve.html

“President Donald Trump has multiple reasons as to why he should take control of the Federal Reserve. He will do so both because he can and because his broader policies argue that he should do so. ”

“The Board of Governors of the Federal Reserve is required to have seven members. It has three. Two of the current governors were put into their position by President Trump. Two more have been nominated by the president and are awaiting confirmation by the Senate. After these two are put on the Fed’s board, the president will then nominate two more to follow them. In essence, it is possible that six of the seven Board members will be put in place by Trump.”

southseacompany
Member
southseacompany

“Trump’s stunning comments about the Federal Reserve could actually backfire”, Business Insider

http://www.businessinsider.com/trump-federal-reserve-comments-rate-hikes-2018-7

“The comments raised the specter of President Richard Nixon’s pressure on the Fed in the 1970s, which led to economically damaging stagflation. But JPMorgan economist Michael Feroli advanced an interesting alternate theory: Trump’s comments may inspire the Fed to go the other direction.’

“”Given what we know about Powell, we see little chance the President has gotten in his head,” Feroli wrote in a note to clients. “In fact, an argument can be made that the President’s comments may skew the Committee in a hawkish direction: if a decision is a close call then the appearance of kowtowing to the President may bias them toward raising rates.””

southseacompany
Member
southseacompany

“Trump hits the Fed again in tweet: ‘Tightening now hurts all that we have done”, MSNBC

https://www.cnbc.com/2018/07/20/trump-hits-the-fed-again-in-tweet-tightening-now-hurts-all-that-we-h.html

“President Donald Trump criticizes the Federal Reserve’s monetary policy again on social media Friday, a day after his initial negative remarks were revealed on CNBC.”

southseacompany
Member
southseacompany

“The United States should not be penalized because we are doing so well. Tightening now hurts all that we have done. The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals. Debt coming due & we are raising rates – Really?” Trump tweeted.”

Dave
Member

Trump is playing politics here. He’s worried about an economic downturn for his 2020 run. He’s setting up the Fed as somebody to blame should that play out.

Ves
Guest
Ves

Dave, it is not about politics. It is about America Fist and new way of redistributing resources among “allies” and no more freeride.

Name
Guest
Name

The USA is the one getting a free ride with cheap goods manufactured by semi-slave labour in third world countries. Trump doesn’t even understand basic economics. And by attacking his “allies” with whom the USA has good economic relationships he is shooting himself in the foot and will do more harm than good for the USA.

YVR
Guest
YVR

“Trump doesn’t even understand basic economics.”

That is why US GDP growth went from 8 years of 2% under Obama to over 3% now and forecast to be 4% by Q4. He has doubled US GDP growth in less than 2 years.

Dyugle
Guest
Dyugle

Not one single country in history rose to the top thanks to free trade.

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

Free Trade= Lowest Common Denominator

……..aka slave wages and greater mulit-national oligarch profits.

Slava
Member
Slava

Let’s have equal wages and labour standards, and then we can all have free trade:)

Strata Hacker
Guest
Strata Hacker

This Name loser is almost the dumbest of them all.

Slava
Member
Slava

Whatever you say dumbass, must be true. You have some delusion of grandeur, that is all.

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

He’s also a liar.

Slava
Member
Slava

The USA Corporate elite are getting a free ride, not a majority of the USA Population. That boomerang is about to come back and hit them hard.

Name
Guest
Name

Inflation CPI up to 2.5% the highest level since 2012
Retail sales high.

Another interest rate increase will happen later this year.
Real estate is getting crushed.

Dx3
Guest
Dx3

inflation is higher is higher than my interest. my debt is being inflated away. god i love economics.

Doomcouver
Member
Doomcouver

Unless it’s all unsecured credit, prepare yourself to get hit with monetary inflation and asset deflation at the same time.

Oracle
Guest
Oracle

Not real estate asset deflation if record immigration continues. Rents continue to increase.

Strata Hacker
Guest
Strata Hacker

Doom,
You always claim to know the future but nothing you predict ever comes to pass. In fact, it’s always the opposite.

Confucius
Guest
Confucius

Summer sales are crashing down to Christmas levels. Summer is generally slower than spring, but slower than Christmas, the cyclcal low? Sheeeeeeeeit.

Dave
Member

We’ve had a lot of sub 100 sale days.

I think we’re starting to see the slowdown affect the condo market now, but it’s still early days. Unsold new inventory is growing and the downtown market is softening. Even rental rates are headed down which is not common.

But, the inventory still isn’t there to cause a faster correction. This is playing out very slowly. I think the low sales will cause realtors to push vendors to lower prices, which will eventually pull prices down.

I’m noticing realtors are very aggressive is asking for offers. I think a lot of them just aren’t getting offers but want to keep their listings, which is easier to do if some offers have come in, but not closed.

YVR
Guest
YVR

Trump is crushing China

“Why Trump isn’t backing down in the trade fight — in one chart”

President Trump’s fight with China isn’t going to stop any time soon, say Bespoke Investment Group analysts for our call of the day. They’ve reached that conclusion after looking at how the S&P 500 has far outperformed the Shanghai Composite Index SHCOMP, -0.52% in the year to date. “Through Wednesday, the YTD gap between the two indices is over 20 percentage points in favor of the U.S., and that’s before even taking the decline in the value of the yuan into account,”

https://www.marketwatch.com/story/why-trump-isnt-backing-down-in-the-trade-fight-in-one-chart-2018-07-19

Dx3
Guest
Dx3

and he is slowly working to removing china’s few allies one by one and isolate them politically and militarily. not that they have a lot of allies. all their neighbours hate them.

patriotz
Member

“all their neighbours hate them.”

https://www.reuters.com/article/us-china-russia/chinas-xi-awards-best-friend-putin-friendship-medal-promises-support-idUSKCN1J41RO

“Chinese President Xi Jinping gave visiting Russian President Vladimir Putin China’s first friendship medal on Friday, calling him his best friend, underscoring the close ties between the two despite deep reservations many Western nations have of Putin. “

YVR
Guest
YVR

Yes I am sure Vlad and Xi are best buddies. It is about money and power. That is what makes the world go around. You lefties are so naive.

Strata Hacker
Guest
Strata Hacker

Patridiot is so dumb.

Slava
Member
Slava

No one is requesting this information from you.

Slava
Member
Slava

If China thinks that Russia will be its bodyguard and let China fled the Russian market with cheap manufactured goods, to replacd the US Market, they have another thing coming. Same goes for Europe and most other countries.

patriotz
Member

“and let China fled the Russian market with cheap manufactured goods”

Have you actually been to Russia and seen what’s in the shops? Apart from the boutiques serving the rich, everything is made in China, even more so than here. At an average wage of about $500/month that’s all the ordinary Russian can afford.

Slava
Member
Slava

It is enough to look if Russia has a sizable trade deficit with China.
The USA does.

patriotz
Member

“It is enough to look if Russia has a sizable trade deficit with China.”

It’s not enough, because Russia is the #2 oil exporter in the word, and China is the #1 oil importer. One would expect Russia to have a sizable trade surplus with China. In fact Russia has a slight deficit with China. This isn’t really China’s fault – Russia is simply so dysfunctional that’s it’s incapable of competing with anyone.

https://themoscowtimes.com/articles/russias-trade-with-china-up-22-to-59285

Slava
Member
Slava

And it is China that has a sizable trade deficit with Russia, and it will stay that way.