From yvr2zrh:
Interesting statistic.
Not only are we almost certain to have the worst sales numbers for February in recent history, but – for the first time ever, it appears that we may increase MOI from Jan-Feb (that never happens).
Now the weather will have some impact for sure but this February is not going well and many people are waiting things out as prices settle down.
[…] –rising interest rates no problem […]
Hundreds of Chinese have protested outside a Spanish bank in Madrid, claiming they are being unfairly denied access to their accounts while the bank insists it’s merely complying with money-laundering laws
https://vancouversun.com/pmn/news-pmn/chinese-in-spain-stage-protest-over-blocked-bank-accounts/wcm/86ec77fe-b3b6-4aed-bd91-864d023e167a
Canadian households aren’t strained by rising interest rates, survey shows:
https://www.bnnbloomberg.ca/households-aren-t-strained-by-rising-canadian-interest-rates-1.1214190
I don’t buy it. The vast majority of Canadians are ridiculously over-indebted and woefully ignorant about their own finances. There’s a large cohort, especially in BC, that will claim their financial situation is fine right up until the day they go bankrupt. This just gives the BoC more initiative to crank up rates until borrowers start to feel some pain. By then it will be over. Luckily higher rates is exactly what we need, but the paradigm shift in the perception of borrowing massive amounts of money will cause a tsunami of fear-based asset selling. What follows is the deepest recession in Canadian history.
I’d rather the “households aren’t strained” narrative take old than the opposite. Those rates need to go up and if public perception is that they need to go up, there’s less pressure on the BoC to hold back the tightening. The tightening becomes even more important during election season where there will be promises of affordability which will translate into loosening of the stress test. Higher rates would nicely balance that off.
“Fraser Valley Condos Undergo Sharp Change In Prices”, Vancouver Condo Guide
https://vancitycondoguide.com/fraser-valley-condos-undergo-sharp-change-in-prices/
“With home prices correcting in the city of Vancouver, the ripple effect has spread across the city and into the Fraser Valley, particularly in the once euphoric cities of Langley and Abbotsford. Condo price declines have been sharp. Since Langley condos peaked in June, the home price index has dropped 10%. Price declines have accelerated in Abbotsford where the price index shows a 14% drop since peaking in June.”
Wow the YoY change has a very dramatic spike over the last year. That’s what panic listing looks like. With the cost of fuel factored in, homes in Langley and Abbotsford are generally more expensive than living closer to Vancouver, so they were bound to come back to earth, with or without a price correction in Vancouver proper. It’s supposed to be cheaper to live in the suburbs, but apparently new home-buyers (aka. speculators) can’t do simple math.
This is not what oracle is reporting… apparently the Valley is on fire….
The voices in Oracle’s head don’t count as reliable sources.
The voice that comes out of his mouth (or keyboard) don’t count as reliable sources either LOL.
Chinese students in Canada report Uygur activist’s talk to consulate
https://www.scmp.com/news/china/politics/article/2186263/chinese-students-canada-report-uygur-activists-talk-consulate
Canadians should be outraged and storming chinese consulates.
Nothing better to do yesterday than incite violence, eh?
“Xi in 2016 called on students studying abroad to serve their country, and that year, the Chinese education ministry issued a directive calling for a “contact network” connecting “the motherland, embassies and consulates, overseas student groups, and the broad number of students abroad” and ensuring that they will “always follow the Party”.
Actually, deportation is too lenient for these pigs.
It’s time for Canada to imprison all chinese students on our soil for “endangering national security”.
The new law enabling this act shall be call the Kovrig-Spavor law.
The prisoners will be subjected to 24 hour lights on, non stop interrogations, and 1 visit per month from a consular official.
Due to the large number of enemy students, massive camps will need to be built in the hinterlands to house them.
These entitled students need to be kicked out. What country they think they are in.
China… they think they are in China
Province to bail out B.C. Hydro with $1.1 billion to help limit rate hikes
https://vancouversun.com/business/energy/province-to-bail-out-b-c-hydro-with-1-1-billion-to-help-limit-rate-hikes
Amazon’s sudden decision to cancel its HQ2 plans for Long Island City has dealt a big blow to the area’s real estate agents, who were seeing an influx of eager buyers to the area
https://www.cnn.com/2019/02/14/tech/amazon-hq2-lic-real-estate/index.html
No comment…
Tibetan-Canadian student politician, Uyghur rights activists come under attack by Chinese students in Canada
“Some simply wished for her to die or be raped.
“People like u deserve a gunshot. Hope you go to hell immediately,” said a poster named caesssar_hsu on Instagram.
Chinese students in our country need to go home and never come back.
They are a cancer on our nation.
Maybe time to kick them out if they are a national security threat.
“Property Prices Are Plummeting In Super-Wealthy Dubai”
“Property development is a key part of Dubai’s economy, so the fall in prices has had aftershocks throughout the city’s financial landscape. Five years ago, authorities doubled buying and selling fees to discourage speculation in the market. (Now) officials are also reaching out to potential investors in places like China and the U.S. to try and stoke interest in the market. ”
https://www.zerohedge.com/news/2019-02-13/property-prices-are-crashing-super-wealthy-dubai
MOI at the end of January was 11.4 based on 11.4K inventory and 1000 sales.
Current projections would show the end of Feb having inventory of roughly 13K and 1200 sales which would be MOI of 10.8
So, not an increase in MOI but fairly flat which is in itself very unusual.
File under “Funny because it’s true.”
“Click here to laugh at Vancouver.”
https://thetyee.ca/Culture/2019/02/14/Vancouver-Memes-Satire-Cartoons/
Some fun, locally-flavoured memes. #relatable
New
107
Price Change
53
Sold
37
TI:11983
Uggggghhhhh!
Inventory really stalled. Maybe people waiting for Trudeau to introduce 30 year mortgages. He needs to take attention away from SNC.
Probably the snow holding people back.
Lowest Feb sales number since 1952.
Hows that valley holding up?
The valley?
Ok, here’s my analysis thus far.
Detached prices have come down by about 50,000. Townhomes and condos holding their own.
What’s telling is building lots. I checked a few and there is a panic to sell by developers. Lots that were going for $950,000 in the spring are currently fetching about $ 825,000.
So lot prices down about $125,000, detached about $50,000 and townhomes/condos holding their own.
Why? Because easier to get mortgage on townhomes and condos because you need less money down and just need to qualify for mortgage.
As for detached holding their value, it’s cause basement suite rents have risen and that has dampened the downdraft.
Building Lots? You need lots of money to buy and build. Plus speculators/developers unloading due to risk of prices going down further. That’s why down $125,000.
Your welcome.
When you allow unfettered immigration, this is what happens… The worst of human drudgery and POS skinbags are let in and commit crimes. Immigrants from PROC and India and the rest of uncivilized jungles should just be banned.
https://vancouversun.com/news/local-news/b-c-transit-police-say-man-accused-of-groping-seven-year-old-girl-surrenders
The gene pool is fucked here for generations. Make sure to teach your kids how to break laws and cheat to get ahead. Otherwise they won’t stand a chance.
The people immigrating here are mostly those who climbed on top of others abroad, made money and came. The genuine people have no hope of immigrating. Pay to play.
Sellers with an itchy trigger finger are obviously trying to get out ahead of the spring market. Rising inventory at this time of the year is telegraphing the level of panic there will be in the spring if sales numbers don’t come up dramatically. Get your popcorn ready.
Son evicts mom who paid down payment, contributed to mortgage on shared house
>>> the son sounds like a snake …
Oracle’s 2nd cousin?
As RCMP investigated casino money laundering, police distrust of B.C. government grew
Well, I don’t trust either of them. The RCMP and our regulators are incompetent when it comes to international crime and money laundering and our politicians seem to have encouraged the whole either through negligence or intent.
By the time anybody figures it all out, the criminals will have moved on or found another way around whatever system they come up with.
Importing millionaires is the biggest industry in BC. The reality of the World is that big industries don’t just go away.
You can hope and wish somebody is going to make this all better, but I think that’s just wishful thinking.
RCMP are equivalent of FBI ( Federal Bunglers of Investigation ).
They have less than honourable roots as Crown’s thugs of the frontier as Canada was birthing.
In BC….many of the RCMP don’t last long given high cost of living …..thus a revolving door of personnel.
Casino investigations ? will go nowhere ….. “BET” on it !
Much better for local gov’ts to have their own police force with an integrated network to solve serious crimes.
Hyper-mega-Bull > has corruption reached the point where police are accepting bribes? http://vancouvercondo.info/2018/11/sales-down-inventory-up.html#comment-342347 maybe not cops but someone is taking bribes from the money launders and fentanyl china. ========================= Re fentanyl….. Massachusetts Attorney General Implicates Family Behind Purdue Pharma In Opioid Deaths QUOTE: The Sackler family behind Purdue Pharma knew that its painkiller OxyContin was causing overdoses, yet continued to cash in as deaths mounted, the Massachusetts attorney general alleges in court documents filed Tuesday. In a new 274-page memorandum, Attorney General Maura Healey details a chain of command that she alleges implicates eight Sackler family members, as well as nine Purdue board members or executives, in the nation’s deadly opioid epidemic. QUOTE: The new memo spells out Healey’s allegations that the Sacklers flooded Massachusetts with sales reps, influenced state legislation, and financially backed medical facilities and universities so they… Read more »
Coming soon to Canada…. if not here already.
https://www.youtube.com/watch?v=BNAqA7R95Wo
Start around 8:29 mark
Another treasonous company reveals itself. The rot goes deeper than I ever thought possible!
https://ca.finance.yahoo.com/news/telus-signals-material-risk-ottawa-bans-huawei-5g-networks-150253869.html
I used to like John Manley, but he sold the country out for some of that Chinese cash. No mention of Manley and his lobbying to release the Huawei executive in the article.
I don’t like Manley either, but he was right about Sabrina Meng-Meng, or whatever the hell she was calling herself on one of her many passports…
Some “strategic incompetence” on the part of the now departed Minister of Justice was called for….Jody shoulda just let Meng-Meng fly outta the Country and be somebody else’s problem.
;-
Now two innocent men have been taken hostage in Communist China and are being subject to illegal detention and interrogation, meanwhile another one is facing a firing squad instead of 15 years in the klink….
Have any of you checked out the health implication of a 5G network?
..this is a frikkin disaster.
shares of Canada Goose fried to a crisp after announcing earnings…
https://uk.reuters.com/article/us-canada-goose-results/canada-goose-says-labor-costs-hit-profit-margins-shares-dive-idUKKCN1Q31OT
Teacher told me that her class is mostly Chinese and they don’t want to observe valentines day so they will not be doing anything today.
Cuz teaching and training kids about sex is obviously more important than studying actual knowledge?
And now we have see the reason why.
space889 has kept himself ignorant of sex to pursue knowledge. that’s why he is so smart.
If the boy locusts hate girls the way space does, then I can see why there is no point in observing the occasion.
They’d rather pay spy games anyway.
Amazon Pulls Out of Planned New York City Headquarters
https://www.nytimes.com/2019/02/14/nyregion/amazon-hq2-queens.html
>>> not a great day for the students and housewives…
From what I have read, Amazon is a shitty employer who exploits their employees.
In addition, what major corporation is going to want to locate in a overpriced commie run shithole like NYC..isn’t massive automation just around the corner ?
25000 jobs with an average salary of $150k US. But I guess Starbucks at 15% of the salary is a nice place to work?
Hey SIDA I thought the NY democrats were negotiating a better deal with Amazon? I guess someone should send them the Art of The Deal. Trump may even autgraph it for them. LOL what a bunch of flunkies.
WHY AMAZON REALLY RAISED ITS MINIMUM WAGE TO $15 https://www.wired.com/story/why-amazon-really-raised-minimum-wage/ QUOTE: AFTER MONTHS OF increased public criticism about its grueling labor practices, Amazon announced Tuesday that it would begin paying all US employees, including part-time, seasonal, and temporary workers, at least $15 an hour and all UK employees at least £9.50 (with higher wages in London) beginning November 1. The move will affect 250,000 US Amazon employees and 100,000 seasonal workers, according to the company. In the same announcement, Amazon also said it will begin lobbying Congress to raise the federal minimum wage, which is currently $7.25. Jeff Bezos—the company’s CEO and the richest man in the world—said in a statement that Amazon “listened to its critics,” and “decided we want to lead.” On its face, Amazon’s decision to raise wages is unequivocally a good thing, with the power to… Read more »
You are mistaken if you think I said that.
Richmond group organizes trade delegation to China amid uncertain political climate
https://www.richmond-news.com/business/richmond-group-organizes-trade-delegation-to-china-amid-uncertain-political-climate-1.23633044
>>> couldn’t help but chuckle after looking at the duct tape used to post this organization’s sign not to mention the dude sitting third from right rockin’ that 15-20 year old faux hawk thingy…
Clearly we’re sending our best and our brightest. Trade on!
Leave that guy alone, he’s picking up wifi signals for the rest of his posse.
Nice delegation you got there. It’d be a real shame if it got arbitrarily detained…………..
YVR traffic breaks new record in 2018
https://www.richmond-news.com/business/yvr-traffic-breaks-new-record-in-2018-1.23633594
Strong pre-sale in a new condo building at UBC (11 units sold recently, 2 bedroom for $1 million +):
http://www.colinhall.ca/showlisting/698283/806-5410-Shortcut-Road-University-VW-Vancouver-West/
just talking the book….
Leasehold property ? ….. if so avoid !
Agreed, I’d imagine a lot of home buyers don’t even know what leasehold land is. Leaseholds will be the most worthless of houses after the crash. I’d only buy leasehold if it the mortgage was at most 50% of the rental price, and not one cent higher.
IMHO….my understanding was Gov’ts reduced funding to Universities, which forced them to use other revenue models..such as growth in Student Loans…International Students and ‘”leasing” endowment lands.
This was another pillar of the BC Liberal agenda to destroy all public institutions in the province, along with ICBC and BC Hydro.
why not just stop the charade and move UBC out to the valley so the entire UEL can be turned into condos…
Its quite sad to see what has happened to our city
There’s a lot of leaseholds in Richmond for some reason as well.