It took awhile, but Higher interest rates are really beginning to bite.
Sadly, the 5 yr Govt bond is selling off sharply on fears of an economic slowdown.
We may have seen the last of the rate increases.
Poloz is such a Mr. Dithers his next move could be a cut.
I don’t think Poloz will cut as long as the Fed is raising, but he may not increase as frequently. And certainly no increase in December and maybe not in January either.
They predict marchor even july next year, depends on oil.
Legal AirBnb?: https://abnb.me/DtihIcBRdS
gotta love that realtor sign in the recycling bin…lol
New
140
Price Change
81
Sold
88
TI:12472
White House intensifies confusion and fear on US-China deal
https://www.citynews1130.com/2018/12/04/white-house-intensifies-confusion-and-fear-on-us-china-deal/
>>> a good synopsis of today’s disaster…
Excellent November stats as price drops accelerate.
Detached down 1.6%
Condos down 2.3%, by next month will be negative YOY
Overall down 1.7%
Yikes!!
Sell now or be priced in forever!!!
That is awesome condo prices are only up how much in the past 12 months? Where would we be without higher rates and B20?
2.3%.
I predicted you would continue bitching even as year over year condo prices went negative.
You just stated “by next month will be negative YOY”. Still positive for this year. Not a great track record for the government that was going to lower prices. They were gifted B20 and several rate hikes but still prices are up for condos. Either they don’t want prices to go down or they are flunkies. Eby’s back tracking on taxing presales for foreign buyers tells you everything you need to know. Hint: he knows it would be easy to implement and would lower prices on those condos that are still up year over year. Do the math.
Presales aren’t included in the stats.
Damn NPD unable to engineer 20% MoM price drops…bring back the Liberals!
A must sell?
4469 W. 7th Ave., Vancouver
$3,900,000, Sold 06/02/16
After two years,
$3,600,000, Sold November 21, 2018 (assessed $3,993,000)
Imagine losing 300k in 2 years. It takes most people 5-10 years to make 300k. The hilarious thing is if the bears are right this seller got off easy.
it takes a lifetime for the small % who actually have extra coin left over every month to save 300k
Hence doomcouver just outed himself as a troll. He is a kid living in parents home.
How would he not even know that..
Vancouver council approves key parts of anti-renoviction motion
https://bc.ctvnews.ca/vancouver-council-approves-key-parts-of-anti-renoviction-motion-1.4205059
Vancouver home being sold at auction to ‘Chinese real estate investors’
http://dailyhive.com/vancouver/vancouver-home-auction-target-chinese-buyers-2018
In many ways every sale here is an auction, except without any idea how many people – if any – you’re bidding against.
Fuck off Pig Traitor.
You’re quite pathetic.
And you’re about to take a bath on that Whistler house, FYI.
Whatever you say pig.
Oink oink…
A true action goes to the highest bidder. RE sales in Canada don’t work that way. The seller can choose who they sell to or not. Even in these faux auctions which have reserve bids.
Yeah with how toxic the market is currently they’re pretty likely to get a bunch of low-ball offers and refuse to sell. The interior is super ugly anyways. The kitchen is nice but the pepto-bismol colored bathroom isn’t doing it for me.
So every sale is an auction except that you can’t see who’s bidding.
Fuck off, AIDS.
Of course I’m right and you just feel compelled to oppose, the same way you feel compelled to reply after saying you were ignoring me.
In a multiple offer scenario people have no idea what others are bidding and can easily end up overpaying. Because there’s not the transparency that a genuine auction would provide.
The Pig Traitor is fired up this am.
Says the racist who does nothing but lash out.
In fact the house is listed on MLS right now: “Home to be sold at auction on Dec. 20 though you can also buy before!”. And I’m pretty sure there’s going to be a reserve bid on that “auction”, so it’s only going to be sold if the owners like the bid. To sum up they are just using this “auction” to hype up the sale. Does anyone remember a similarly hyped “auction” a couple of years ago, Deer Lake area I think, where the house didn’t actually sell?
http://www.realtylink.org/prop_search/Detail.cfm?MLS=R2312258&REBoards=All&From=MLS
Harcourts was trying to unload 4120 Westminster via auction earlier in the year and also no takers…
More good news?
“Analyst says real estate speculators no longer interested in Vancouver market”
https://www.citynews1130.com/2018/12/04/real-estate-speculators-vancouver-market/
PS It’s a hobby.
Happy to spread the headlines. Share with friends and family.
Makes sense that speculators lost interest in an asset class that’s crashing.
This is great news. It’s like music to my ears hearing investors whinging about what a terrible investment Vancouver RE is. From a historical standpoint real estate is not an investment unless you can rent it out with good cash flow. Currently the rental yields on residential RE almost everywhere in Canada are complete garbage. In most major cities you would need to charge 200%+ of current rent to get a good ROI and renters will refuse to pay. The only likely way to restore decent rental yield is massive capital depreciation of the asset.
‘Far and away expensive’: Auto insurance brokers charged ICBC $434 million in commissions last year
In the face of the ongoing “dumpster fire” at ICBC, the public insurer was billed $434 million in commission by auto insurance brokers last year…In the case of a $800 optional insurance bill, brokers can earn $120. Attorney General David Eby said. “There is a need to incent brokers to try to sell ICBC insurance.”
Yes Eby imagine if those brokers were not there to sell mandatory insurance with a monopoly on BC insurance. Either Eby is corrupt, really dumb or both.
http://vancouvercondo.info/2018/12/prices-down-sales-way-down.html
There’s a reason they’ll drive to your home or office on a days notice.
Privatize!
Right now we have the worst of both worlds. Poorly run mandatory government insurance coupled with corporate welfare to sell the mandatory insurance. Imagine without those brokers. Nobody would buy insurance.
David Eby said. “There is a need to incent brokers to try to sell ICBC insurance.” LOL
Weaaaar Ebyyyyy
Bought by the Autoplan dealers. Hahaha
Those drivers work for the Autoplan brokers. They only get about $60 for the sale.
The fat cat Autoplan owner pockets the majority.
And they haven’t been giving out more Autoplan broker licences for 2 decades now.
Last month, Attorney General David Eby stated that a key driver in increasing ICBC costs is “plaintiff lawyers strategically building the value of the claim,”
Last year, ICBC’s losses were revised from about $300 million to $1.3 billion over the course of a few months. The massive restatement of ICBC’s financial position demonstrates that ICBC management was asleep at the wheel — financial distracted driving at its worst. Where was the accountability? No one at ICBC resigned or was fired. Instead, Eby rewarded ICBC by allowing the Crown corporation to design a system that “caps” compensation for British Columbians injured by careless drivers.
Hmm… who seems more trustworthy? David Eby or ambulance-chasing personal injury lawyer? Is this another one of those partisan IQ tests?
The lawyers job is to get the client the largest settlement they can. David Eby’s job is to run ICBC efficiently. Which one is not doing their job?
Let’s see… Eby has capped pain and suffering awards for minor injuries — bringing BC in line with every other province in Canada — which takes most of the profit out of easy fraud. He also established a speedy tribunal process that allows injured people to apply for reasonable settlements without having to roll the dice and hand over 40% of the payday to a lawyer working on contingency.
I can understand why the ambulance-chasers are miffed. As a BC taxpayer I can’t say I have much sympathy. They won’t be growing quite as fat on our money, but I think they’ll be OK.
the government should not be in the insurance business…. the market can supply a solution without taxpayers subsidies
Market failure is exactly what led to the creation of ICBC.
Its not market failure when a shitty driver can’t get insured….The govt does not need to make sure that any moron with a “drivers License” can afford insurance.
Fair enough…The only place I disagree is that there are too many unqualified drivers on the road. From the kids that like to race quarter million dollar race cars to the people who cant seem to navigate their 150K SUVs. Absolutely NO reason for ICBC to be in that game at all. Im sure private insurers would have zero interest in that business. Too bad..
I agree — no reason for ICBC to offer collision insurance for any car worth more than, say, $60,000. No way the premiums cover the repair expenses in that market segment.
If you can afford an expensive vehicle, buying private collision insurance would be no hardship.
be careful what you wish for. we’re talking a $1B+ buyout if the current govt considers any course of action which would eliminate the dealer cartel.
The dealer cartel is very powerful like the taxi cartel. Each Autoplan licence is worth $1.3 million and there is 902 of them in the province. $440+ million in commissions.
Each office is guaranteed basically $60,000 a MONTH! Then include the other insurance products and $$$$$!
This is why they protect icbc.
Have a relative who owns several of these. Said not worried Bout anything because they got ‘people’ on their side.
Sounds like we have organized corruption in our government. Wonder who is making the big $$$
Open letter to Attorney General David Eby on Sam Cooper’s “secret police study” story
Oh god, not Ng Weng Hoong again.
This chinese apologist and sino-crime denier is almost as bad is AIDS.
Haven’t seen such pile of garbage for a while, shame what’s getting published.
The Georgia Straight has a hate-on for David Eby. Much like some on this blog.
Immigration fraud trial wraps up first day in Charlottetown court
Investigators allege 100s of immigrants used the Sherwood Motel as ‘address of convenience’
Ping Zhong and her brother Yi Zhong both face multiple charges of aiding or abetting misrepresentation under the federal Immigration and Refugee Protection Act — specifically, they’re accused of assisting clients of P.E.I.’s provincial nominee program (PNP) to provide false information about their residency in Canada.
Too bad, they are a cute, hard-working Chinese business couple. They had good intentions but didn’t exactly understand the rules over the allowed number of guests in a motel room due to language barriers.
exactly. they are not muslim, they don’t have dark skin, they are short, they smile and say “oh… i didn’t know” when they get caught stealing vegetables from your farm or garden, committing fraud, or operating an illegal business so we should give them the benefit of the doubt.
“Bank of Canada holds key interest rate at 1.75% as economic outlook dims”, Financial Post
https://business.financialpost.com/news/economy/bank-of-canada-holds-interest-rate-at-1-75-per-cent
“Canada’s central bank took a break from raising interest rates on Dec. 5. The pause could last longer than many were expecting, mostly because policy makers are worried that the energy industry’s contribution to economic growth will be “materially weaker” than expected only a couple of months ago.”
BoC policy statement basically re-written start to finish over the course of a few weeks…
https://www.zerohedge.com/sites/default/files/inline-images/2018-12-05_7-07-04.jpg?itok=vyboMUHI
loonie at 18 month low…
stocks like CWB also testing similar levels and down 30%+ in 2018 alone
Yes the Fed is going to force the BoC’s hand. Attempting to diverge rates too far from the Fed will make the Canadian dollar more worthless. This in turn makes everything priced in USD (aka. most of the goods Canadians purchase) more expensive. This price action will push up inflation, and the BoC will be forced to raise rates despite anemic economic growth. You could even see Poloz raising rates through a recession if inflation is unaffected. Luckily a housing crash should skew inflation numbers down quite a bit, as the price of housing is part of the calculation.
” Luckily a housing crash should skew inflation numbers down quite a bit, as the price of housing is part of the calculation.”
House prices are not part of CPI. However lower housing prices will result in lower consumer demand through job losses and lower borrowing power, which will tend to result in lower locally determined prices, particularly rents.
reverse wealth effect, bigtime…
You’re dead wrong, owned housing comprised over 16% of 2015’s CPI. https://inflationcalculator.ca/cpi-basket/
Donald J. Trump
3h3 hours ago
One of the very exciting things to come out of my meeting with President Xi of China is his promise to me to criminalize the sale of deadly Fentanyl coming into the United States. It will now be considered a “controlled substance.” This could be a game changer on what is…….
…..considered to be the worst and most dangerous, addictive and deadly substance of them all. Last year over 77,000 people died from Fentanyl. If China cracks down on this “horror drug,” using the Death Penalty for distributors and pushers, the results will be incredible!
https://twitter.com/realDonaldTrump/status/1070312880095068160
that’s progress. now to make sure they follow through.
Kudos to Trump!
That’s a lot more than our Turd has done, at least according to our (former) ambassador to China, David Mulroney, who has severely criticized Turd for having done nothing while he has had plenty of opportunities.
I guess he’s too busy handing out millions for stuff like education for the worlds girls and women.
Canada is now a place where you either spend money on pot or slave away pouring it into a bottomless mortgage or both. Both scenarios created and facilitated by many of our fearless leaders….
I’m sure many fentanyl deals happen right outside VPDs station on Main. But blame Trudeau for that.
The VPD station on Main was closed long before fentanyl became a problem.
Of course but it stands as a symbol of the city’s hands-off approach. You don’t need to look to Ottawa to assign blame.
shocked that it hasn’t turned into condos yet…
It was already a controlled substance in China. Trump is once again too stupid to understand what is going on.
” Trump is … … too stupid to understand what is going going on ” ??
Doesn’t seem to have stopped him from being able to outwit our airhead on pretty much every occasion.
When it comes to stupid, just think “India trip”
“When it comes to stupid”
North Korea Is Rapidly Upgrading Nuclear Site Despite Summit Vow
“North Korea never pledged a promise to abandon this missile sites,” a spokesman for South Korea’s president said.
patriotz fell for fake news again, lol. what a chump…
… or is he deliberately trying to mislead?
LOL. Fake News once again. Add it to the list and make it a contender for the fake news awards.
The Guardian story on Assange meeting with Manifort is a lock for top 10 if you’re placing any bets. That was so weak, they weren’t even trying.
We all know that million dollar bets aren’t exactly correlated with the truth after the Elizabeth Warren fiasco. He never did pay up.
You need to get away from fake news. You don’t even know what the bet was do you?
Trump’s reply when challenged about his failure to pay was “I didn’t say that” and “Who cares?”.
Very presidential.
Not sure what that has to do with stupid, unless you’re suggesting it would have been wiser to nuke Rocket Man along with millions of others. If you have a solution to the problem, why not let us know before the bell rings for round 2.
At least he didn’t kowtow to Rocket Man’s team decked out in pointed shoes or traditional Korean duds.
Trump is barely understandable at the best of times. Just read a transcript of any of his interviews. And only this week he retweeted something which suggested he can’t tell the difference between Paris and London.
Also remember back to their first meeting. That handshake. So funny.
@ SIDA
He’s smart enough to be, in all likely-hood, worth a lot more than you….
I suppose I never had a small million dollar loan, but at the same time I’ve never declared bankruptcy or lost a trial.
So I’ll call it a tie.
What do you know about character Traitor Pig?
Well, I know you’re a dumbfuck racist for starters who in all likelihood never went to college and is living off a windfall that he’s slowly pissing away.
I also know you constantly brag about your situation, telling anybody who’ll listen about your new kitchen range for example, thus enforcing my opinion that you’re a spoiled new money brat. The fact you’re overpaying your landlord by $500 month whilst crowing about new appliances is a strong indicator of low intelligence.
I see KD and cat food in your future.
“who in all likelihood never went to college”
That’s why you’re such a worthless piece of shit, AIDS.
You think that anyone who didn’t go to college is a lowlife, but sadly a college education isn’t what it used to be when young people went there to get educated rather than indoctrinated.
From the sounds of you, college didn’t serve you well at all, you should have learned a trade instead.
Maybe then you’d actually have learned something useful and not become such a hideous group-thinking prick.
Not at all, and your dismal logic and comprehension skills have let you down once again. I know many people who didn’t go to college, and many of them are extremely successful either in terms of being at the top of their respective fields or because of the contributions they make to society. Others are wealthy through hard work and sheer determination. Sometimes a little luck but that never does anybody any harm regardless of their education, does it? They’re all good, kind people.
Not going to college doesn’t make you a dumb racist scumbag. But if you’re already a dumb racist scumbag then there’s a decent chance that you never went to college.
I’m happy to explain the mechanics behind this if you’re still in need of clarification, sometimes these things aren’t exactly intuitive.
So I guess you are now Elitist Traitor Pig!
Its so hard to keep track of all these names of yours. I guess I should have gone to college.
So it turns out I do know something about character, I suppose?
You can’t backpedal away from your disdain from the “uneducated”.
Toxic shitbag.
Would a Venn diagram help? I can use crayons if you like?
he’s simplifying the message because he understands communication.
what better captures the essence of what he’s doing?
“china will list fentynal as a controlled substance” or
“china will list molecules structurally similar fentynal as controlled substances”
he’s not teach a fucking chemistry class here. crafting your message to match your audience isn’t stupid. it’s smart.
Please provide an example where Trump’s message was consistent with him addressing an intelligent audience.
there’s no point. no matter what i show you, you won’t be convinced. and i absolutely no problem with you thinking that i’m wrong, or thinking that trump is dumb. in fact i prefer it that way.
Your keyboard is broken, genius.
wasn’t this exactly what Trump wanted? this is what forceful action gets you.
China Announces Punishments for Intellectual-Property Theft
This is al laughable, they will commit to everything but not follow through with anything. It is just culture and tradition.
you’re right. but the first step is to get them to agree to something. then when they break the agreement you punish them. you have to do the whole dog and pony show and assume that you are dealing with honourable people so when you drop the hammer on their melon shaped heads people don’t say you are the bad guy.
True, it is a pitiable public theatre where honor and good intentions are just coulisses.
Exactly, Trump knows the chinese are liars and their promises are worthless.
Once they renege he can go medieval on their asses.
40% of ballots in with 2 days left. Looks like we will finish with around 42%.
The low turnout favours the current system. Reason is the NDP didn’t contact their lectionaries list members. The other parties did.
So the BC Liberals are heading into election mode. Icbc and ridesharing will be at the top of their agenda. And they will probably win.
What a monumental failure by the NDP and Greens. Just like I predicted, NDP never really wanted this.
Oracle, are BC Liberals going to get housing business as usual back on track and open doors to foreign hordes hence send prices back to the moon? Is it now and maybe the next couple of months the last moment to buy something even in Valley on a discount? Please advise.
Why do you keep thinking I’m supporting the Liberals, or care what they do?
I’m pointing how NDP royally screwed up their chance at fixing housing by purposely playing games and leading their voters astray.
FFS they had 1.5 years to fix the mess and dragged their heels. The hell with them.
You said before you want the liberals in because at least then you’ll know where they stand, which is pro-bubble…so you can buy and cash in.
You are mistaken.
My whole premise is all these parties are playing the public into thinking they have a choice. There are backroom deals all over the place. That’s why nothing gets done when a new government gets power. That’s what my bitching is about. I could care less for the Liberals.
Rentabcontinue their upward march. Don’t gloat. And prices on low end barely budged.
Look at toronto. Their correction done. Prices at record levels again at low end.
Van West condos dropped 3.4% MoM…that’s more than barely budging.
I say 90% chance of a Spring election. If PR fails, NDP wants to go. If PR passes, NDP wants to go. If Plecas steps down, the government falls. If Liberals win Nanaimo, government falls.
I think the NDP would rather go earlier than later. The economy definitely isn’t going to get better 3 years from now.
Less than 48 hrs to go. Let’s see if there is a last minute rush of ballots. Doesn’t look likely.
Hard to read into the results. The Pro-PR ridings in the south island are strong. The anti ridings of Kamloops and Kelowna are moderate. The Liberal ridings of Richmond and Abbotsford and the NDP ridings of Vancouver are weak.
I think the Pro-PR side looks to be ahead because of the Island ridings.
Agree. It’ll be close. At least Politics aren’t boring in BC.
Why Maine lobster fisherman are using Canada to escape the tariff trap
https://globalnews.ca/news/4732478/trump-tariffs-lobsters/
>>> the going rate for one of those east coast lobster rolls (a hotdog bun with maybe 4oz meat) is now $19 US / $25 CAD…tremendous…another industry ruined forever. on a more local front, those “princess” pizzas from Steveston Pizza run $40 a pop now (up from $26) and the shop now asks if you want chopsticks with it too…
So both sides are essentially committing fraud?
Inflation is up all over Greater Vancouver also. KFC burgers such as Big Crunch $9 at tsawassen mall.
Record immigration leading to record lease prices means prices go up. Plenty of satellite families and union pay people buying.
You’re now blaming immigrants for the price of junk food? Hahahahaha!!
Canada arrests Huawei’s global chief financial officer in Vancouver
https://www.theglobeandmail.com/canada/article-canada-has-arrested-huaweis-global-chief-financial-officer-in/
imho this move ratchets up the china/us tensions bigly. very fitting this arrest occurred at what many deem to be ground zero for all the chinese corruption and bs. stock futures tanking once again. charts are busted with death crosses and bear flags all over the place. Cdn investors were granted a free gift today as US mkts were paused for the funeral. i wonder how many were awake to recognize this for what it was and wail out stocks that were inexplicably bid up when the TSX opened today.
Lock her up …
The usual BS from the Chinese. These are the same people who are holding American citizens hostage without charge,
America held Chinese citizens without charge for years in Guantanamo.
There’s no double standard in this case, SIDA. Guantanamo is doubtless problematic regarding human rights. However, as a free individual espousing political beliefs that may be in contrast to the government, where is it safer to do that, the US or China? Therein lies the false equivalency of the point I think you’re trying to make.
No, that’s just you moving the goalposts.
No, that’s you with a false equivalency.
Incorrect. What on earth do political beliefs which may be critical of the government have to do with the topic? Nothing, you just threw those in so you could move the goalposts.
“What on earth do political beliefs which may be critical of the government have to do with the topic?”
Your assertion was (by implication) that the Chinese imprisonment of those Americans was equalled by or is somehow comparable to US imprisonment of Chinese in Guantanamo. With that very narrow criteria, you implied that the US was no better/worse than China by some kind of measure. I countered with my example. Am I misinterpreting what you meant by “America held Chinese citizens without charge for years in Guantanamo.”? Why were you pointing it out in the first place other than to create an equivalence?
Some kind of measure? The measure was whether they imprison people without trial, but we can extend that to using torture or cruel and unusual punishments if you like?
“The measure was whether they imprison people without trial, but we can extend that to using torture or cruel and unusual punishments if you like?”
I bet China imprisons more people without trial than the US does. Call it a hunch.
“America held Chinese citizens without charge for years in Guantanamo.”
They (i.e. Uighurs) were all eventually relocated to 3rd countries, because none of them wanted to return to China, where they would have faced far worse. That’s a pretty big difference. That’s not meant as a defense of the Guantanamo incarcerations in general.
China’s embassy in Canada said that it resolutely opposes the arrest of Meng, saying in a statement on its website that it demanded her immediate release.
US authorities have been investigating Huawei since at least 2016 for allegedly shipping US-origin products to Iran and other countries in violation of US export and sanctions laws, sources told Reuters in April.
And yet they want us to arrest a long list of Chinese criminals and send them back…difference here is that this criminal is in cahoots with the Chinese government orchistrating possibly the largest surveillance scheme in the history of our planet.
Is this even legal? Sabrina is actualy arested on Chinese theritory.
“The chief financial officer for China’s global tech giant, Huawei Technologies, has been arrested in Richmond and is facing extradition to the U.S.”
I see what you did there…..
😉
You have to love Trump. Turd cannot protect Canada so Trump steps in.
http://www.investmentwatchblog.com/massive-futures-dump-tomorrow-could-be-ugly/
>>> it could be a plot to derail the US / China trade talks…
“The Chinese side firmly opposes to and strongly protests over such kind of actions which seriously harmed the human rights of the victim,”
Hahahaha! Shut up, clowns.
Yes, only China should be able to harm the human rights of the Chinese. Stop appropriating Chinese culture Canada!
Sounds just like David Lereah of the NAR circa 2007. “A market slide, which would benefit no one” – no one except buyers, of course.
I honestly don’t know how these people can write this shit with a straight face.
And if your only real economy is RE then you/we are all idiots.
Let me paraphrase for him ” Fuck the entire next generation who are completely priced out, just so long as I make money and I already bought mine”
That’s how it is in india. Priced out workers without land long time ago.
Since then the land class has deliberately kept the working class a subservient. Meaning keeping policies in place that maintains the class structure. Because of such, the land class people’s kids enjor da life.
The working class parents are told to make their kids go to school, work hard and you will get everything.
Same thing is happening here.
Being the good guy won’t help. You got to fight this evilness with evilness. Otherwise you will lose.
We don’t live in India.
” Economies grow because of hard work and innovation.. not because of some magical asset inflation”, Mark Carney, 2013
We here in BC like to rely on magic.
Massive, corrupt B.C. cannabis, crypto, mining and energy shares scheme alleged by BCSC
https://www.vancourier.com/massive-corrupt-b-c-cannabis-crypto-mining-and-energy-shares-scheme-alleged-by-bcsc-1.23520420
Murray Pezzim would be proud.
Now, there’s a name from the past….. 😉
this was the best part…
Another big player listed as a respondent is Justin Edgar Liu…
Liu is listed as residing at a palatial mansion on Groveland Road in West Vancouver, the same reported address of his mother May Joan Liu (Yee), an infamous penny stock player at the Vancouver Stock Exchange
Justin Liu operates cannabis stores, like his mother. May Joan Liu is director of WeeMedical Dispensary Society, which has run afoul with numerous municipalities (Delta, Richmond and Prince George among others), also for illegally operating a business.
i also wonder what Pattison thinks of having these fine folks as neighbors?
New
113
Price Change
53
Sold
73
TI:12444
Garth reporting the feds will dip their hand in the housing market a loosen credit starting soon.
So the pressure is on to have the qualifying rate (now at the bank offer +2%) capped at a lower level, and not float up with future rate hikes. I hear this is exactly what will happen in 2019. By the way, don’t be shocked if Ottawa – going into an election year – also allows 30-year amortizations again (with CMHC coverage), plus mortgage insurance for properties selling over $1 million. You can draw your own conclusions. Maybe someday we’ll elect people with spines.
Garth also guaranteed higher interest rates than 1.75% by now…
His record of accurate predictions sucks, quite frankly….
Guaranteed? Forecasting things like interest rates is an educated guess. Having said that Garth has been right in the past year on interest rates.
Inside information the government is working on a policy change is different. Garth has been accurate on this type of information in the past. Your boy Turd is in trouble and desperate. Next time vote for someone with a spine (and a brain).
Someone like Harper, say? Zero down, 40 year amortizations — a spineful politician indeed.
Harper rules, lefty maggots drool.
I will take housing prices under Harper any day. They have tripled since the zero down 40 amortizations were retracted by Harper which makes bringing them back 3 times as absurd. Only a tool like Trudeau would consider such a thing.
Nah, Garth pretty much *guaranteed* them going up more than this….and Poloz has proved him wrong on more than one occasion….
His basic argument went something like: American economy booming, inflation rising rapidly in the US, labour market tightening….therefore Fed will normalize rates by 2019.
Now even Powell seems to be backing off….
Only an idiot wouldn’t update their thinking in light of new information.
Unlike the clowns here who simply ignore all the data they disapprove of.
Andrew Scheer is publicly opposed to the stress test and Canada-wide efforts to moderate the housing market in general. Look what he said in the Okanagan, one of the most overpriced areas in Canada:
“The problem, I believe, is that we have a government that believes that there’s a national housing market,” he said. “There’s not a national housing market, there’s dozens of local markets… yet when they (the government) make changes to the CMHC it applies all across the country.”
https://okanaganedge.net/2018/04/05/scheer-talks-business-housing/
Dear lying Patridiot,
Somehow that quote does not say what you claim it says .
Patriditz is such a tool. One of the last people still in love with Trudeau.
He’s right. The gov should stop manipulating the housing market through the CMHC – up or down.
“The gov should stop manipulating the housing market through the CMHC – up or down.”
But that’s not what Scheer said at all. He said: “Speaking to media after a question-and-answer session, Scheer said changing the CMHC to “be more responsive to local regions” is one way to address the issue, but didn’t give additional details on what those changes might look like.”
The existence of CMHC is itself manipulation of the market – up – and the way to end that manipulation is to get rid of it. The RE industry and its apologists – and frankly I think Scheer qualifies quite well – only see manipulation when credit availability is reduced.
In that case, your right and you should have run for leader of the Conservative Party.
Andrew Sheer is 100% correct. They should be putting tougher measures in places like Vancouver compared to most other areas. Either way Turd is in charge and so far it has been a disaster.
“They should be putting tougher measures in places like Vancouver compared to most other areas.”
How about the Okanagan, which is just as overpriced considering the size of its cities?
China RE Huawei arrest: “”The Chinese side firmly opposes and strongly protests over such kind of actions which seriously harmed the human rights of the victim.””
hahaha..
I wonder if the “victim” has a Canadian passport….
Of course she has Canadian passport. Somehow all those sketchy individuals have one in a spare pocket.
“Of course she has Canadian passport.”
And your evidence for this is…. well nothing. It is a fact that Meng has never lived in Canada though.
Laibach posts only toxic opinions and fairytales. He’s not good at facts. Or math.
You are seriously screwed up. Get some counseling, it will do good for you.
“The Foreign Ministry did not comment on whether Meng entered Canada with a Chinese or Canadian passport.”
https://www.cbc.ca/news/politics/canada-huawei-arrest-cfo-1.4934269
China as a brand has declined a lot in 2018. It’s not just Vancouver, but you see that sentiment all over North America. People are starting to ask if our previous belief that opening trade with China would bring them into the World community. It’s not really working. They have propped up North Korea, been a military antagonist, stolen from our corporations, treat many of their citizens poorly and dump fentanyl amongst many other issues. This change is sentiment can quickly grow to a point where popular opinion is to get tough on China.
The tide turned with Trump’s election; we’re always a few years behind the curve. Fun anecdote: of the people I talk to, those most mistrustful of the Chinese are themselves Chinese. Food for thought.
Maybe Trump’s long game is the end result of pushing China out of the World economy. Maybe he doesn’t really want a trade deal and he’ll just antagonize them along the way.
I think we’re one event away from a Pearl Harbor type moment. If China does something that has a negative outcome for America, then you’ll see the public rally around them as Enemy Number 1. When America wakes up, watch the hell out.
History has shown that America cannot cope without an adversary to demonize and use as a tool unify the people. As soon as one enemy’s threat diminishes they go looking for another one. It’s quite fascinating behavior.
Dave,
That is not correct analysis in sense it does not look at the root cause. The root cause is financial globalisation is sinking and many people are beginning to save their personal interests without any care for others. An that includes not just China but UK leaving EU, fall of NAFTA, US tariffs on Canadian steel and softwood, abolition of free market in Canadian energy sector (State buying TransCanada, AB interfering with oil production of private oil companies).
Isolation from the First World order may emerge. But we all need access to certain resources found in different parts of the world. China’s strategic investment in some parts of Africa (for example) will make it hard for them to be ignored.
Dave,
Capitalism is not a political project, it is simply a system of logic designed for creating profit. It was US that allowed capitalism to run wild. The logic of the US multinationals was to increase their profits by delocalising production to China. But what happened in just 25 years? Western middle classes began to disappear as result. People are marching in Paris not in Moscow & Beijing. And Canada, due to abusive financialization of their economy, ended up blowing a house bubble and making unbearable life for their own citizens, gutting productive and industrialised economy, and put themselves in unattainable position of selling the most toxic and expensive oil for just $14 a barrel to their only client.
You seemingly disagree with my views, but haven’t explained why.
It’s not that I disagree or agree with you. I just look at the facts.
Was the global financial system based in the United States faced its first crisis in 2008? Yes.
Was the revolt of the Western middle and working classes against the globalised upper class began two years ago with US elections? Yes.
Did the revolt continued with elections in Italy, Brexit, and demonstrations in France? Yes.
These are the seeds of current political climate, but you overlook them. And it appears that ruling class has its solution to divide the world into two distinct zones. In plain language, one zone will use Apple products and other zone will use Huawei products.
Why would you say that I overlook them? It has nothing to do with the case I was making which is that China is declining as a brand, and that China is risking a lot by continuing all the BS.
I disagree the ruling class has caused China’s decline. China is responsible for that. Trump is the only leader who has taken a stand against China. If anything the anger is bottom up, not top down. Our leaders will follow the trend, not start it.
China brand will be irrelevant in Apple zone (North America) , and US brand will be irrelevant in Huawei zone (EuroAsia) in the very near future. World will split in two economic zones. That is where we are heading.
Half the world’s population lives in extreme poverty. I doubt phone brands are high on their list of priorities.
Phone brands are just metaphor. Its about realignment of global trade between world elites. Globalisation is out. Protectionism and Tariffs are in. But if west does not return to productive capitalism middle classes will disappear and with them current political system.
decision time for Trudeau. no tip-toeing around this mess. either let her go and declare war against the US or piss the Chinese off.
I also wonder if Trump will somehow blame Canada for this should the situation really go off the rails. and maybe then, he’ll play the hero card once again as he brings the two parties to the bargaining table…
Richmond Hill, Vancouver among Canadian cities taking a stand against real estate’s unlucky numbers
https://www.thestar.com/business/2018/12/06/richmond-hill-vancouver-among-canadian-cities-taking-a-stand-against-real-estates-unlucky-numbers.html
“It’s an open secret among real estate agents that in certain communities, condo units on the fourth floor can take longer to sell…..
….In some Asian cultures, including Mak’s, the number four is shunned as unlucky because the pronunciations closely resemble the word for death in Mandarin and Cantonese.
Mak, the founding president of the Vancouver chapter of the Asian Real Estate Association of America, says for many of her clients, this cultural preference is real, and plays a large part in driving their real estate decisions.
So much so that many municipalities across the country have specifically addressed the issue of tetraphobia, the fear of the number four, or the more commonly found triskaidekaphobia, the fear of number 13….”
A-HA-HA-HA-HA-HA!!!!!
How about a referendum to change Vancouver’s name to “4444”.
City ponders removal of new houses for even newer homes
https://www.cbc.ca/news/canada/british-columbia/land-assembly-vancouver-real-estate-1.4934170
