BC, Canada, debt, hype, mortgage, opinion, predictions, prices, rates

Bank of Canada warns of housing market vulnerability

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314 Comments

The bank that cried wolf: Housing market vulnerabilities are still high.

Vulnerabilities in the Canadian housing market are still high despite rising interest rates and tighter mortgage rules, Bank of Canada Senior Deputy Governor Carolyn Wilkins said on Thursday.

…

It also released results of a model it said showed Canadian banks’ capital positions would not be affected by a 20 percent correction in the housing market, with the biggest declines in Toronto and Vancouver.

Read the full article here.

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bullwhip29

Richmond residents lose thousands in suspected Wechat renovation scam
https://www.richmond-news.com/news/richmond-residents-lose-thousands-in-suspected-wechat-renovation-scam-1.23514260

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Big Bear

Is this AirBnb legal?: https://www.airbnb.ca/rooms/29889054

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Time to go

Probably not, but how about the group rents it out for a Vancouver Condo Info New Years rager?

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YVR

Once Trudeau hears about this he will get the RCMP to seize all racist license plates now they have so much time on their hands without having to worry about the drug dealing money launderers.

“Kansas recalls 731 license plates over ethnic slur complaint”

Kansas is recalling hundreds of vehicle license plates on the streets containing the “JAP” lettering in the wake of complaints that it is an ethnic slur offensive to Japanese-Americans.

https://driving.ca/buick/auto-news/news/kansas-recalls-731-license-plates-over-ethnic-slur-complaint

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Best place on meth

JAP is a pretty mild “slur”, unless you’re traumatized by the war.

It’s about as bad as BRIT, or YANK.

A much more offensive slur is John Wayne in one of his war movies referring to them as those “lemon colored bastards”

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YVR

The fact they recalled these randomly created plates is just another example of political correctness going too far. Think of all the offensive things you could create in your mind out of 3 random letters. The bans would be endless.

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StupidityCheck

Is there any topic you don’t get wrong? Jap is not equivalent to brit or yank, idiot. Jap was never used affectionately. The comparable words would be “chink” and “kraut”.

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Bubble

1529 WESTERN CRESCENT, UBC, Vancouver
https://sothebysrealty.ca/en/property/british-columbia/greater-vancouver-real-estate/vancouver-west/320579/

Sold for $6.5 million, assessed value (2017) $8.85 million.

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YVR

Near a 100 year old house for $6.5M. Let me know when a place like that sells for $1.5M.

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Laibach

A perfect case for investigation on money laundering. Who sane would burn that amount of money in the current market on a shitty product if not locust in rush to offload?

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paulb

New
113
Price Change
62
Sold
58
TI:13006

http://www.clivestevepaul.com

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Madashell

Thanks Paul. Looks like Nov 2019 will go down in flames.

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Madashell

2018, one year too early.

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Best place on meth

Down in flames or up in flames?

The Hindenburg did both.

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Canada is for Canadians

The B.C. compound police believe may be connected to “transnational drug trafficking” and the fentanyl trade

https://globalnews.ca/video/4700016/the-b-c-compound-police-believe-may-be-connected-to-transnational-drug-trafficking-and-the-fentanyl-trade/?utm_source=Article&utm_medium=MostPopularVideo&utm_campaign=2018

>>> another upstanding citizen from you know where ….

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Laibach

Happens all the time and everywhere.

https://www.bloomberg.com/news/features/2018-05-22/deadly-chinese-fentanyl-is-creating-a-new-era-of-drug-kingpins

You’re welcome.

Vermin Attorney

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Shut It Down Already (original)

Of course nobody from any other country has ever been involved in drug trafficking.

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Canada is for Canadians

So then this is all okay huh?

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Shut It Down Already (original)

Of course not, where did I say that?

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MAKE TRUDEAU A DRAMA TEACHER AGAIN

You implied it loser.

FUCK OFF FOR THE 888th TIME!

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Best place on meth

Notice he refuses to condemn it, he just tries to deflect attention.

What a god damn piece of shit.

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Shut It Down Already (original)

I condemn it.

Feel better?

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Shut It Down Already (original)

No, I did not imply it. You clearly have no grasp of the language.

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Watcher

It’s just that here, Chinese are way over represented in the ranks of international criminals, money launderers, tax evaders, immigration fraudsters and pillagers and plunderers.

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Shut It Down Already (original)

If by “here” you mean this cesspit of a blog then I’m sure you’re correct. Now fuck off, there’s a good little racist.

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Best place on meth

“It’s just that here, Chinese are way over represented in the ranks of international criminals, money launderers, tax evaders, immigration fraudsters and pillagers and plunderers.”

Here means in our beautiful country of Canada…..at least it used to be beautiful before it was taken over by vermin from china and run by a communist piece of shit like Turd.

You fuck off, traitor.

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Oracle

What the hell is a compound? Why not call it an ALR Mansion.

Ohhh. I see what the NDP and MSM are doing.

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Hyper-mega-Bull

>What the hell is a compound?

a group of buildings.

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Shut It Down Already (original)

A fenced off area.

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YVR

Compound? When you mix fentanyl with other drugs and pass it off as something else. The lowest of the drug dealers.

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MAKE TRUDEAU A DRAMA TEACHER AGAIN

Like Trudeau calling the illegal border crossers “Irregular border crossers”

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Shut It Down Already (original)

It’s not illegal.

Immigration and Refugee Protection Act, Section 133.

UN Convention Relating to the Status of Refugees, Article 31.

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YVR

Yes it is illegal to cross the border outside a crossing. You cannot be a refugee coming from the US, period. These people should be immediately returned to the US and permanently banned from entering Canada ever for any reason. They are taking spots from legitimate refugees and costing Canada millions to process these bogus claims.

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Best place on meth

The chinese asshole, AIDS, doesn’t quote the relevant facts from his source.

He just posts an entire website to confuse you and make the motherland happy.

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Shut It Down Already (original)

You’re of course free to cite the relevant law(s) which show that it’s illegal. Or would that be too confusing?

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Shut It Down Already (original)

It’s legal to cross at any point on the border for the purpose of making an asylum claim.

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YVR

No it is not. You cannot make an asylum claim coming from the US. Period. Trudeau should be jailed for allowing it to happen.

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Shut It Down Already (original)

The STCA only applies at official crossings and cannot be changed unilaterally by either of the parties.

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Best place on meth

Every illegal migrant Turd invited in with that one stupid, immature tweet of his has cost taxpayers $14,000 to process.

https://www.cbc.ca/news/politics/pbo-budget-officer-asylum-seekers-costs-1.4924364

And now that criminal traitor of a PM has given the media a massive bailout to keep them compliant and favourable to his regime, chinese style.

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Best place on meth

Rat’s nest would be more appropriate than compound.

There’s a lot of high end shit to be seized there, along with this dirtbags other luxury Vancouver properties.

After that, force him to swallow some of his own product that he’s murdering Canadians by the thousands with and finally dump him where the hungry otters hang out.

They probably don’t eat this kind of shit, but whatever.

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Oracle

Vancouver is done as a region. Only way to compete with the ‘Yuans’ is to cheat and pay off people to get ahead. There are just too many shady people here now and their offspring will have similar genetic tendencies. Too late for Vancouver now. The biggest casualties of this will be the local white people who are naive about how things work overseas. The MSM here along with the NDP is jumping on the drug money laundering and real estate and casinos. They want you to think it’s NOT the ordinary Chinese immigrant who is funneling in loads of illegal cash and saying ‘I buy three’. If this massive immigration isn’t stopped, I predict a massive backlash and civil unrest in 10-20 years when the Asian culture openly exerts its aggression to the western way of life. It’s coming… Read more »

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Laibach

You are right here, no doubts or jokes. It is inevitable for a very simple reason, they can change physical location but not a mindset, culture, and habits although Canada didn’t want them to change that by unadvisedly and naively developed a monster a.k.a. “Mosaic”. So in the end, it isn’t their fault, they are who they are.

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MAKE TRUDEAU A DRAMA TEACHER AGAIN

By Asian do you also mean South Asian?

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Hyper-mega-Bull

Trump: I’ll Confront Xi Over American Hostages at G20…

https://dailycaller.com/2018/11/29/trump-hostage-father-americans-xi-jinping/

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Best place on meth

Emperor dogface should call in sick Monday.

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Canada is for Canadians

Vancouver expects to collect $38 million from vacancy tax in first year The Canadian Press, at 15:11 on November 29, 2018 VANCOUVER – The City of Vancouver says it has collected $21 million in the first full year of its empty homes tax and another $17 million could still flow into its coffers. The city says in a news release that it expects to generate about $38 million from the first year of the tax which is applied to vacant residential properties in a bid to ease Vancouver’s one per cent vacancy rate. The city says there just over 186,000 residential properties declared and 2,538 of those were vacant. It says the declaration period for the second year of the tax is open with a deadline of Feb. 4. City staff will continue to monitor the impact of the tax… Read more »

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Canada is for Canadians

$38 million from the first year of the tax is a drop in the bucket when compared to the billion dollars a year in laundered cash flowing into real estate.

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Shut It Down Already (original)

Apple? Meet orange.

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Best place on meth

It is a drop in the bucket.

Time to triple it.

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YVR

When will that happen? Are they going to implement it with Eby’s foreign buyers tax on presales?

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bullwhip29

More than 250 runners cheated at last weekend’s half-marathon in Shenzhen including many who took shortcuts, Chinese state media said on Thursday, calling it “deeply shameful”
https://www.richmond-news.com/news/asia-pacific-news/on-your-marks-get-set-cheat-dozens-take-shortcut-at-china-marathon-1.23513411

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Shut It Down Already (original)

Happens all the time and everywhere.

https://www.theguardian.com/global/2018/oct/28/meet-the-marathon-cheats

You’re welcome.

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Oracle

The communist apologist. Always defending and never criticizing his own people.

But quick to trash others.

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Shut It Down Already (original)

I’m quick to trash racists, yes.

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MAKE TRUDEAU A DRAMA TEACHER AGAIN

The article mentions one guy not 258 in the same race like in China.

You really make retards look smart.

You are such a clueless pumper on anything China. You earned your 50 cents again.

FUCK OFF for the 889th time.

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Shut It Down Already (original)

Dumbass, the point was it happens frequently. I gave one example, and can give more if it would you happy. My guess is that it would not, or you’d just ignore it. Because that’s who you are. Just one more angry pathetic little racist.

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Bag it and tag it

Yup, once every few years someone gets dinged for cheating in marathons world wide…
250 in one race in China? I’d have been surprised if the numbers weren’t that high from the country where parent protested when there children weren’t allowed to cheat on the college entrance exams.

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Best place on meth

What’s surprising here is that it was ONLY 250 of them cheating.

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Laibach

Right, they have a big population.

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bullwhip29

any mention that charges stayed in Silver Intl / E-Pirate investigation are (still) conspicuously absent from the Richmond News

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Laibach

And how they do it in non-banana countries…

Deutsche Bank headquarters raided over money laundering

https://www.bbc.com/news/business-46382722

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bullwhip29

Whistler condo prices soar over 26 per cent as baby boomers snap up winter getaway properties
https://business.financialpost.com/real-estate/demand-grows-for-vacation-condos-in-whistler-mont-tremblant-royal-lepage

>>> these so called experts seemed to have forgotten that there is no FBT in Whistler.

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Shut It Down Already (original)

With only 18 condo sales in the last month, according to Zolo, I’m sure the numbers are all over the place.

For example, the average 1 bedroom condo is down 40% year on year. Only one 3 bedroom unit sold but that looked like it went for $3.5m.

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MAKE TRUDEAU A DRAMA TEACHER AGAIN

Thank you from the Whistler expert who has never left China.

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Shut It Down Already (original)

I forgot that the fact you own a property there gives you access to data that nobody else has. My mistake.

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bullwhip29

B.C. Legislature investigator was fired from casino security job after suspension for intoxication
https://www.richmond-news.com/news/b-c-legislature-investigator-was-fired-from-casino-security-job-after-suspension-for-intoxication-1.23513082

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bullwhip29

Is bridge dead in the water? Richmond thinks so
https://www.richmond-news.com/is-bridge-dead-in-the-water-richmond-thinks-so-1.23512204

>>> no one has more of a vested interest in seeing plans for an expressway to Delta (and the newly proposed casino) go off the rails than Malcolm Brodie

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Selective Memory

While detached home sales numbers have been falling everywhere, in Ladner they actually were up quite a bit year-over-year. Hopefully all those speculators looking for a quick flip on the back of a new bridge will be burnt to a crisp.

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KickThemOut

China cheats again on trade – https://ca.finance.yahoo.com/news/us-calls-china-apos-tariffs-234854979.html

US calls China’s tariffs on American autos ‘egregious’

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KickThemOut

Trump banning Chinese students from US universities. Why is CANADA not doing the same? Why is Trudeau selling out our country?

https://ca.reuters.com/article/topNews/idCAKCN1NY1HE-OCATP

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Canada is for Canadians

Takeaway:

“Every Chinese student who China sends here has to go through a party and government approval process,” one senior U.S. official told Reuters. “You may not be here for espionage purposes as traditionally defined, but no Chinese student who’s coming here is untethered from the state.”

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Best place on meth

It was Krusty who tripled the locust/spy intake into BC schools.

Where is that fucking cunt by the way?

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patriotz

“Trump banning Chinese students from US universities.”

In fact the article expressly points out that Trump is not considering a ban: “But the new measures would stop well short of such a ban, according to multiple sources. Terry Branstad, a former Iowa governor who is now ambassador to China, helped convince Trump to reject the Miller idea during a meeting in the Oval Office in the spring, one administration source said.”

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MarKoz

A wide ranging article that goes beyond simply assessing the impact of Air BnB. For all that the crisis has specifically Irish elements, it is full of echoes of what is happening elsewhere. In the UK, at least 320,000 people are homeless, about 170,000 of them in London. In Copenhagen, youth homelessness has increased by 75% since 2009. Between 2013 and 2017, the number of homeless people in Warsaw rose by 37%. In Athens, one in 70 people are reckoned to have nowhere to live. Even in Germany, the supposed embodiment of “social Europe”, there is rising anxiety about a homelessness problem made much worse by the fact that state-owned homes have been sold in huge volumes to private investors. In most of these cases, you find much the same basic themes: the decline of public housing, the arrival of… Read more »

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Canada is for Canadians

Calls grow for public inquiry into connections between money laundering, organized crime

https://www.citynews1130.com/2018/11/29/calls-public-inquiry-money-laundering-crime/

“However, Duhaime says the message that is being sent when charges are stayed in a case this big is that “Vancouver is open for money laundering.”
“The moment that as a society we don’t follow the law, we don’t enforce it, we let it slide — especially when it comes to money laundering, when it comes to criminal activity — we send a message by not prosecuting or by not dealing seriously with that.”

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Canada is for Canadians

China’s electric vehicle monitoring raises surveillance fear
The Associated Press, at 09:11 on November 29, 2018

SHANGHAI – When Shan Junhua bought his white Tesla Model X, he knew it was a fast, beautiful car. What he didn’t know is that Tesla constantly sends information about the precise location of his car to the Chinese government.

Tesla is not alone. China has called upon all electric vehicle manufacturers in China to make the same kind of reports — potentially adding to the rich kit of surveillance tools available to the Chinese government as President Xi Jinping steps up the use of technology to track Chinese citizens.

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Laibach

How is this even possible? Are they untouchable and protected as Pope Francis because they are Chinese in Canada? This wouldn’t happen with any other nation but only them, why?

https://www.bloomberg.com/news/articles/2018-11-29/british-columbia-s-biggest-money-laundering-probe-collapses

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Hyper-mega-Bull

Race and IQ

East Asians (China, Japan, Korea, Taiwan, Hong Kong, and Singapore) 105
Europeans 95

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SilentBob

Yeah it requires a great deal of intelligence to game our honour based systems. That said, you’re correct that Europeans are dumb to be so trusting considering the circumstances.

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Canada is for Canadians

the troll Hyper-mega-Bull shows his own intelligence by posting something stupid like that.

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Doomcouver

They probably laundered the money too well and made it difficult for the crown prosecutor to win a criminal case against them. This is why we need strong anti-money laundering policies that prevent these dirtbags from operating in the first place. Otherwise trying to track the source of funds can be difficult or sometimes impossible after the fact.

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bullwhip29

i suspect someone high up on the govt/rcmp food chain has some involvement in the whole money laundering scheme. it seems inconceivable that all this was conducted without any assistance whatsoever from a higher power. time and time again, things get swept under the rug to protect the untouchables

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southseacompany

“Stocks surge on hint of slower rate hikes”, CBC

https://www.cbc.ca/news/business/stock-markets-powell-interest-rates-1.4924472

“Canada’s main stock index posted its largest rally in almost three years on Wednesday after U.S. Federal Reserve chairman Jerome Powell suggested a possible pause in interest rate hikes next year.”

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southseacompany

“Alberta’s oil pain could put Bank of Canada’s January interest rate hike in jeopardy”, Financial Post

https://business.financialpost.com/commodities/energy/alberta-oil-woes-could-put-poloz-january-rate-hike-in-jeopardy

“Doubts are beginning to emerge about whether the central bank will hike in January without a rebound in slumping prices for Canadian heavy crude”

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southseacompany

“Greater Vancouver Pre-Sale Real Estate Sees An Unexpected Rise In Units For Sale”, Better Dwelling

https://betterdwelling.com/city/vancouver/greater-vancouver-pre-sale-real-estate-sees-an-unexpected-rise-in-units-for-sale/

“The number of pre-sale units launched jumped last month. MLA found 2,418 new units hit the market in October, up 251.45% from the month before. Compared to the same month last year, the number is 31.55% higher. ”

“The same month sales of new projects, a.k.a. absorption fell from last year. October saw 41% of units absorbed, up 7.89% from the month before. This represents a 45.33% decline compared to the same month last year. “

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Doomcouver

The builders arguably have the most power to crash the market. They’ve got enough margin to be able to slash prices to make these units move and drain all the buyers from the resale market in the process.

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yvr2zrh

Numbers are bad this month – as expected. Sales down close to 40% over last year same month. One statistic that will not be published but is interesting is that the inventory at month end will exceed the average for the month for the first time since February 2015. The turning point in the inventory trend was July 2016. Since March of this year, the market has actually continued to get worse at a faster rate (i.e. the rate of deceleration has been increasing). There is definitely a different mood out there now and it will be interesting to see how this develops now.

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MAKE TRUDEAU A DRAMA TEACHER AGAIN

But Oracle says sales and prices are not linked in any way.

Our spitting mad Sino-Apologist also says your post is racist.

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Shut It Down Already (original)

You’re so pathetic.

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Hyper-mega-Bull

yvr2zrh has appeared. that’s a sign that the down trend is almost over and it’s going to be a bullish spring.

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paulb

New
127
Price Change
89
Sold
68
TI:13025

http://www.clivestevepaul.com

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