Mortgage brokers stuck in the middle

Mortgage brokers make their money by getting people mortgages. In a softening market this can present a challenge.

FICOM is the agency that regulates mortgage brokers and they are issuing a warning:

Brokers should not overleverage their clients; this may be done by fudging applications – overstating the income of a borrower to obtain a bigger loan (and hence a bigger commission), said Carter, who also warned brokers of working with unregistered fixers.

Carter told brokers in Vancouver that the days of “how to get to yes” are over with new market uncertainty, and slumping sales and prices. Now, brokers need to be extra vigilant and learn “when to say no.”

He said Canadians could be in for a rude awakening if real estate prices fall and they’re still saddled with big mortgages and even loans against their equity, suggested Carter. And the brokers who brought loans to those homebuyers will face extra scrutiny, he said, which is why he’s calling on the industry to ease back the throttle on new mortgages that may be contrary to the best interests of the public.

Read the full article here.

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bullwhip29
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bullwhip29

Video of kids singing ‘Huawei is beautiful’ goes viral in China as tech giant faces global pressure
https://www.cnbc.com/2019/02/28/video-of-kids-singing-huawei-is-beautiful-goes-viral-in-china.html

Best place on meth
Member
Best place on meth

Baby locusts are so adorable when they’re singing the praises of a criminal organization.

bullwhip29
Guest
bullwhip29

Hong Kong tycoon, two equity firms bid on Anbang Insurance’s Vancouver office complex, sources say
https://www.theglobeandmail.com/business/streetwise/article-hong-kong-tycoon-two-equity-firms-bid-on-anbang-insurances-vancouver/

bullwhip29
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bullwhip29
PG1 Hong Kong tycoon Li Ka-shing’s company and two private equity firms have made preliminary bids for Anbang Insurance Group’s office complex in Vancouver, according to people familiar with the matter. Mr. Li’s CK Asset Holdings Ltd., U.S. private equity firm Blackstone Group and Canadian real estate firm KingSett Capital have expressed interest in four office towers called Bentall Centre, said the sources, who were granted anonymity by The Globe and Mail because they were not authorized to speak publicly. The Chinese insurer Anbang was forced to put Bentall Centre up for sale after Beijing took control of it amid problems with debt and allegations of corruption. The Chinese government is hoping not to lose money on the office complex after Anbang spent more than $1.06-billion in 2016 − the most expensive commercial real estate deal in Vancouver’s history. It… Read more »
bullwhip29
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bullwhip29
CK Asset and Blackstone have been looking for large properties in Canada. Last year, Mr. Li’s company made a bid for a large block of land near Toronto’s international airport, though it lost out to the Public Sector Pension Investment Board. Mr. Li and his family have had extensive business interests in Canada, including a controlling stake in Husky Energy Inc. of Calgary. Blackstone spent more than $3-billion on a Canadian trust that has industrial properties and partnered with a Toronto real estate fund to invest in Canadian apartments. Anbang’s broker, commercial realtor CBRE Group Inc., is running the sale for Anbang. A CBRE spokesman declined comment. In January, CBRE had contacted more than 10 domestic and foreign investors about the sale. That list included most of the big Canadian pension funds, as well as one of Bentall Centre’s previous… Read more »
bullwhip29
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bullwhip29
SilentBob
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SilentBob

A spokeswoman for B.C. Ministry of Jobs, Trade and Technology, which oversees the provincial nominee program, wouldn’t venture a guess. “It is good to see newcomers coming to Canada and being able to invest in their own business and homes,” she said. “We are unable to speculate on the amount of foreign capital they bring into Canada.”

The minister of jobs, trade and technology, Bruce Ralston, also declined to comment until he had a look at the Statistics Canada report. “It’s an area where I’d have to have the facts.”

Corruption or incompetence? You be the judge.

bullwhip29
Guest
bullwhip29

after a few layers of the onion are peeled off, i suspect it will become apparent similar sorts of shenanigans were behind the creation of the marijuana bubble and all these fly-by-night co stock scams that seemed to sprout up out of nowhere and are now worth 100’s of millions or even billions.

SilentBob
Guest
SilentBob

I agree, sort of, but would suggest that while those bubbles were also blown by loose monetary policy, those bubbles that were also aided by willful blindness or straight up corruption on the part of the government are particularly egregious. The current immigration/real-estate complex seems to fall squarely into the latter category.

bullwhip29
Guest
bullwhip29

for sure some sketchy people along with their suitcases of money are directly involved in the pot sector. this has all the earmarks of an epic scam that checked off most, if not all the boxes. it remains to be seen if Trudeau himself at any point was tempted to dip his fingers into the register. with so much easy money literally created out of thin air not to mention the newly legalised sector itself providing the ideal conduit to funnel billions more in undocumented riches held by “sketchy” folks of dubious origin

Laibach
Member
Laibach
It is an utter loophole for locust to get in, launder the money and buy a house, business as usual. They can only “invest” in the house but not in any fucking business, not interested. Also, they are not employable as everyone already knows, therefore can’t pay any tangible income taxes to be worth to bring them to BC. Even those with bogus degrees and some “technical experience” can’t get entry tech positions due to nonexisting language skills and overall cluelessness but won’t work labor, cleaner or caregiver jobs, This loophole must be closed asap help local employers and those with real skills and the right attitude to get in touch and not to be held back by greedy and speculative “qualifiers”. It’s a shame how any good initiative can’t function as long as locust doesn’t get a grip on… Read more »
bullwhip29
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bullwhip29

Prime Minister Justin Trudeau has announced that Canada will be “going to the moon” as a partner in a NASA-led project
https://www.ctvnews.ca/sci-tech/trudeau-announces-canada-will-be-partner-in-nasa-led-lunar-gateway-project-1.4316594

>>> seriously dude, just when you thought things couldn’t get any more embarrassing, you pose for some more selfies…

bullwhip29
Guest
bullwhip29

Millennial homeowners have a bad case of buyer’s remorse, according to a new survey by Bankrate.com
https://www.cnbc.com/2019/02/28/most-millennial-homeowners-have-buyers-remorse-a-new-survey-shows.html

bullwhip29
Guest
bullwhip29

Credit quality is deteriorating in Canada, and banks are feeling the impact
TD Bank and CIBC report highest loan losses in two years as earnings miss expectations
https://business.financialpost.com/news/fp-street/credit-concerns-emerge-in-canada-as-td-bank-cibc-miss-estimates

KickThemOut
Member
KickThemOut

Wasn’t Bullwhip tearing Oracle a new hole for posting 25% of the posts in the previous thread? Now, he’s posting 80%+ of the news in a new thread, all is A-OK?

And what’s up with the obsession with turd? Did my guess hit too close to home and now you need to prove you aren’t a sicko but in fact is a progressive feminist man lover?

bullwhip29
Guest
bullwhip29

so says the mama’s boy with the sausage hole obsession and unwavering tendency to drop hints about his own deviant sexual behaviour the moment the conversation presents a sliver of an opportunity to do so…

Canada is for Canadians
Guest
Canada is for Canadians

The difference is that bullwhip29 posts relevant, intelligent, and meaningful information… unlike Oracle. I’m surprised you (KTO) don’t understand that.

KickThemOut
Member
KickThemOut

AKA, echo chamber…

Oracle
Guest
Oracle

And what’s my track record on direction of Fraser valley prices on the last 5 years?

KickThemOut
Member
KickThemOut

Talking about yourself again?

Hyper-mega-Bull
Member
Hyper-mega-Bull

did your parents hug you? do you think you would benefit from a cuddle party?

http://www.cuddleparty.com/vancouver/

Big Bear
Guest
Big Bear

Can’t imagine the creeps that goes to these…

KickThemOut
Member
KickThemOut

Bullwhip, Laibach, and BPOM….disgusting…
Though I bet Hyper Bull probably love being their whipboy at these kind of parties…

Absolutely sick what kind of perversion model posters on this blog are into.

Dave
Member

This month was a bit of a bust for inventory growth with only 1,000 units added. If this doesn’t pick up in March, then I don’t think we’re going to see a flood of listings needed to cause a further significant drops in prices. If nothing else changes, it’s starting to look like a soft landing.

Simple Solution
Member
Simple Solution

We should wait for actual “landing” before we decide if its soft…..

Hyper-mega-Bull
Member
Hyper-mega-Bull

should we also wait for a crash before we decide it’s a crash?

Simple Solution
Member
Simple Solution

You mean >25% off peak on the west side is not a “soft landing”

Dave
Member

Yes, but how does that detract from making a prediction?

I think the bears have some things to worry about this Spring, such as:

1. Inventory growth in February was lower than January. There seems to be no rush to the exits.
2. Rate increases have stopped and five year rates are headed down.
3. Open houses are loaded with buyers.
4. The downturn has already been going on for a moderate period of time (2 years for SFH, 1 year for condos).
5. Pre-sales of condos in Q4 of 2018 were the highest on record!

I’m less bearish today than I was two months ago for the above reasons.

bullwhip29
Guest
bullwhip29

1. behind the exit door is a open elevator shaft right now. many would be sellers in state of paralysis contemplating the various options that are still somewhat feasible without tipping their hands. newer owners would likely be subject to losses (already) if they unloaded their properties for any price. on the vacancy/spec tax issue i understand many owners are taking a hard look at any/all ways whether legal or not to defer situation in the hopes the market finds its footing in the not too distant future

bullwhip29
Guest
bullwhip29

3. surely not in richmond or vanc west side

Simple Solution
Member
Simple Solution

This is my favorite industry line “lots of traffic at opens”… lets keep in mind that not so long ago opens were NOT EVEN necessary to sell this overpriced crap.

bullwhip29
Guest
bullwhip29

yes, those gong show open houses were merely part of the staging in years gone by then agents upped their game even more by cancelling and opting for sale by appt only. then new coast et al really whipped everyone into a frenzy by turning the whole process into a video game where random entities were moved in/out of properties at warp speed on their iphones at prices that only made sense to the money refineries. fast forward to now, the music has stopped and many of these agents, brokers, consultants and anonymous participants are stuck in limbo wondering what their next move is…

xyz
Guest
xyz

Worst January for Chilliwack real estate in a decade
Just 98 sales across all housing types, the lowest figure since the global financial collapse

Listings in CADREB continue to swell with the drop in sales. At the end of last month there were 623 houses on the market, 209 townhouses, 166 apartments, 54 mobile homes and 75 houses with acreage.

At 1,132 listings, that’s up from just 663 a year ago.

https://www.theprogress.com/news/worst-january-for-chilliwack-real-estate-in-a-decade/

bullwhip29
Guest
bullwhip29

4. i wouldn’t consider 1 yr to be a “moderate period of time”. you can start the clock at 5 yrs min and work from there. imho if the $hit is about to hit the fan for real, this market could be under pressure for decades like we witnessed in Japan. this said, i have a sneaking suspicion the powers that be will attempt to kick the can down the road once more. while that probably won’t translate into new highs for RE, it will result in loosening up the purse strings of many and provide some liquidity for a few savvier owners to finally lighten up their portfolios before that window shuts for good

Simple Solution
Member
Simple Solution

biggest issue is very few people have actually seen a real meltdown… a market that goes no bid and remains there for way longer than anyone can imagine.

Most people want to believe that vancouver is somehow different and the basic rules of economics do not apply here.

bullwhip29
Guest
bullwhip29

one could argue that the basic rules of law don’t apply here as well…

Simple Solution
Member
Simple Solution

I doubt anyone will argue that! Even a blind man can see that!

bullwhip29
Guest
bullwhip29

5. is this due to FOMO? or out of necessity as nothing else is affordable for most? or is there some technical reason this surge in that particular RE category occurred before calendar flipped to 2019?

Simple Solution
Member
Simple Solution

necessity???? Nobody is forced to buy anything….

bullwhip29
Guest
bullwhip29

define necessity. for some, threats of being kicked out to the curb by wife if home isn’t bought might qualify…

Simple Solution
Member
Simple Solution

Nobody is forced to buy… FOMO is a terrible thing… Living within ones means used to be a “thing”

KickThemOut
Member
KickThemOut

Or some like you just like being kicked….probably pay for it too….fucking sick

Simple Solution
Member
Simple Solution

huh?

Oracle
Guest
Oracle

Totally clueless. You just wait.

Simple Solution
Member
Simple Solution

I cannot wait to be illuminated by your genius….

Burnabonian
Member
Burnabonian
yvr2zrh
Member

January was actually quite a bad month for inventory increases. On a seasonal basis, based on history, January should have gone up by 10% compared to December. This year, it only increased 5% – thus, the seasonal moves were actually quite poor in January. We are now catching up a bit in February but not much. However, the 3-Month trend from Dec-Feb is about normal overall for inventory moves (sales are, however, poor).

Oracle
Guest
Oracle

Don’t point out the facts on his blog. The NDP have failed in what their voters wanted. Biggest scam in Bc and the voters still don’t get it.

After this correction is over, prices going 25% higher. And no not because I am a pumper but because NDP are a bunch of liars.

Liberals are worse tho.

yvr2zrh
Member

Although it seems like a bust, the change in inventory in February is actually slightly more than the historical seasonal trend for February. On a seasonal basis, inventory typically goes up 7.8% in February compared with January. However, this month the inventory seems on the path to go up by around 8.3%. Probably not what people thought would happen based on the beginning of the month moves, but in-line with monthly expectations. Sales, however, are quite poor on a nominal level and down significantly.

indeed
Guest
indeed

This matter with Wilson_Raybould will guarantee that the PMO will not mess with the OSFI re: stress tests.

Big Bear
Guest
Big Bear

Good point.

Burnabonian
Member
Burnabonian

How so?

Removing stress testing is a quick and easy way to buy a tonne of votes.

And distract everyone with a new scandal.

Simple Solution
Member
Simple Solution

Check out the Banks latest results and their loan loss provisions…. the stress test aint going anywhere.

bullwhip29
Guest
bullwhip29

if he plans on taking action, he has to go all in. imho his every move going forward will be closely watched so i say he might be handcuffed, but I wouldn’t put it past one of the other candidates to play this card while campaigning. one way or another, housing industry is going to get some temporary help

indeed
Guest
indeed

The reasoning here is that politically interfering with an independent institution will see too much loss in political capital to pursue in any earnest. He will be limited to amortization and fiscal measures.

Best place on meth
Member
Best place on meth

Morneau is gone as well, that prick was in on this criminal activity.

Didn’t that little hypocrite Trudoh just say a couple of months ago regarding meng-meng that the government will not bring politics into matters pertaining to the independent judiciary?

The liberal party is rotten to the core.

Bubble
Guest
Bubble
Burnabonian
Member
Burnabonian

Property sells for $739,900

4 days later, city “collects” assessment data.

Property is assessed for $937,000

If that’s not a pump-and-dump, I don’t know what is.

bullwhip29
Guest
bullwhip29

concord brentwood is a better example of a pump & dump. imho if i had to bet on which local project could potentially be the next Sydney Opal Towers, i’d place my chips on this one

Big Bear
Guest
Big Bear
bullwhip29
Guest
bullwhip29

i am sure some creative folks out there already on the case, have programs set up with preferred “colleges” or perhaps playing both angles and have direct interest in the college itself. end result, the kid (s) get free school on our dime, while money passes through hands of some other entity (whether arm’s length or not). fast forward a few more years and same thing happens to schooling, medical care and other services etc that happened with housing with locals not getting seat in classroom, bed in hospital and so forth

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

Summary: Bullwhip is sure, yet has no evidence, and really likes to make stuff up.

bullwhip29
Guest
bullwhip29

wonder why this particular type of comment seems to get under your skin….?

Laibach
Member
Laibach

Good point, perhaps itchy topic?

However, parents studying at Confucius Institute (http://confuciusbcit.com/) and revisiting traditional wisdom, would certainly add value to the household, financial and educational.

KickThemOut
Member
KickThemOut

Is proof even necessary?

Big Bear
Guest
Big Bear

“Vivian” seems very young to be a homeowner: https://www.airbnb.ca/rooms/32313140

Have you guys heard of AirGMS?

bullwhip29
Guest
bullwhip29

i love how this is advertised as a 5 bdrm house with all 5 rooms available for rent. oops. maybe she should charge more for the one she apparently sleeps in herself 😉 also it is funny that there are no reviews for this property but website notes that “host has 11 reviews for other properties”

bullwhip29
Guest
bullwhip29

the sketchy plumbing, ductwork in the laundry area is a nice touch as are the doorless kitchen cabinets that are covering up the electrical panel, which by all accounts is likely way overloaded

YVR
Guest
YVR

No problem. The NDP are collecting 7% PST on these illegal but provincially legitimized hotels than take up our rental stock.

Canada is for Canadians
Guest
Canada is for Canadians

Toronto man arrested with $1M in cash may have ties to international money launderer. Now, he’s allegedly fled Canada

https://globalnews.ca/news/4949475/toronto-man-arrested-1m-cash-international-money-launderer-fled-canada/?utm_source=Article&utm_medium=EditorsPick&utm_campaign=2015

A DEA senior investigator said :
“… this is just the latest example that Canada’s justice system is unable to tackle money laundering and transnational crime.”

bullwhip29
Guest
bullwhip29

Vancouver has released its annual rental guidelines for what it calls “for profit affordable housing,” and the numbers for studio and one-bedroom units have jumped considerably on both sides of the city
https://bc.ctvnews.ca/2-056-for-a-one-bedroom-deemed-affordable-rent-under-vancouver-guidelines-1.4317070

YVR
Guest
YVR

“They call these affordable, because the cost to buy a condo in the same area is a little higher than that,” Sagaii said. The rents, which have gone up 7.4 per cent for studios, and 8 per cent for one-bedrooms, are used as guidelines

That is awesome. Nice job NDP. Rents are now up 8% and considered affordable because buying cost more. Excellent logic. Funny part is it seems to fool many around here who think things are getting better.

Best place on meth
Member
Best place on meth

Are the provincial NDP responsible for the high rents in Vancouver?

They did after all cap rent increases to 2% this year.

YVR
Guest
YVR

The NDP have been running Vancouver for 12 years and the province for 2 years. Yes they are responsible.

YVR
Guest
YVR

I bet these people appreciate that 2% cap on rents this year. Thanks NDP!

February 27, 2019: Mass ‘renoviction’ in Port Coquitlam

Janet Dumain has lived at 1955 Western Drive for 28 years, where she pays $950 a month for her unit. She said it’s cheap and she can afford it. But Tuesday morning, she picked up her eviction notice at the local post office and reality is setting in for the 63-year-old Port Coquitlam resident. “Things like this that happen generate tent cities like what happened in Surrey. Where do they think people are going to go? Personally, I am devastated,” said Dumaine.

https://globalnews.ca/news/5006771/mass-renoviction-in-port-coquitlam-worries-tenants/

YVR
Guest
YVR

It case the naive haven’t figures it out, the 2% cap on rents will increase illegitimate evictions which the NDP are doing nothing about. I am sure these people would have rather paid an extra 2% in a rent rather than being thrown out.

Canada is for Canadians
Guest
Canada is for Canadians

B.C. housing minister says opposition ‘out of touch’ for saying renting is a ‘wacky time of life’

https://www.citynews1130.com/2019/02/28/housing-minister-renting/

Andrew Wilkinson say this about renting:

Andrew Wilkinson:
“It was challenging at times. But it was fun. It was part of growing up and getting better. We’ve all done it. It’s kind of a wacky time of life but it can be really enjoyable.”

>>> oh those “wacky” liberals … they show once again that they have their finger firmly on the pulse of the people of British Columbia.

Bag it and tag it
Member
Bag it and tag it

Translation: “You better enjoy renting because if I get power, if you can’t afford a home now you sure as shit won’t be able to afford a house then…”

YVR
Guest
YVR

Last time I checked things have not changed under the NDP. Coming up to year 3 and still the same dumpster fires they whined about for 16 years. Without B20 and several interest rate increases (nothing to do with the NDP) things would be even worse. Here is a refresher on what the NDP used to talk like when they had no power. Now with power they do nothing. Where is Eby?

https://vancouversun.com/business/local-business/student-who-flipped-point-grey-property-for-1-16-million-profit-prompts-new-call-for-stricter-oversight-for-real-estate

YVR
Guest
YVR

Eby said, suggests a broader investigation is warranted into whether Canadian banks are enabling speculation elsewhere in Metro Vancouver if banks are allowing foreign clients to make purchases with just a down payment and without verifying income. The provincial government has to immediately review land transactions over the last two years in Metro Vancouver to identify how widespread the issue is of banks issuing mortgages to people with no apparent source of income,” Eby said.

Oracle
Guest
Oracle

This is why i post the way I do. Do the minions here think the NDP helped them out??? This correction is on limited time.

Could end any time and government could fall at any time.

Simple Solution
Member
Simple Solution

you keep on hoping this is just a correction and it is almost over… This is the beginning of the crash that will lead to the new normal…

Best place on meth
Member
Best place on meth

Things are getting done, but liberal partisans don’t seem to appreciate any of it.

By the way, the liberal brand is getting pretty toxic, isn’t it?

I’d be pretty fucking embarrassed to be supporting any version of that corrupt party.

Drama teachers and lawyers for tobacco companies as leaders….wow.

YVR
Guest
YVR

“Things are getting done”

LOL when is the the provincial government going to “immediately” review land transactions? They have done nothing but use housing as an excuse to increase taxes. So far it has done nothing to help anyone.

Speaking of brands I think the NDP is at the bottom of the barrel. In last place federally, about to be thrown out of Alberta and even Horgan and Eby know the only way the NDP can hold power in BC is with propositional representation which they screwed up so bad it will never happen. I think a lawyer and teacher is a notch above a Keg waiter in most peoples opinions of careers btw.

Oracle
Guest
Oracle

Things are not getting done. Prices on low end higher.

BPOM is clueless if he thinks something is being done.

Oracle
Guest
Oracle

NDP bombshell announced today.

Every single foreign student will get free healthcare paid for by taxpayers regardless of the length of the program.

Just enroll in a 2 week program and get a free hip replacement. Canadian voters biggest suckers in the world.

Ultra Bear
Guest
Ultra Bear

Link?

LazyCanadian
Member
LazyCanadian

Oracle doesn’t provide links, he just spouts crap.

Bag it and tag it
Member
Bag it and tag it

hoax king

Oracle\'s dumber brother
Guest
Oracle\'s dumber brother

My house in surrey just went up another 400 % if this is true. I can pack 8 students to a room in my hotel, I mean house. Bas kar saleya.

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

It wasn’t announced today. It’s a known consequence of MSP payments being eliminated next year.

Some bombshell….

paulb
Member

New
159
Price Change
90
Sold
65

TI:12305

http://www.clivestevepaul.com

Best place on meth
Member
Best place on meth

Feb is over.

3700 listings
1396 sales

38% sell/list ratio

MOI 8.8

Listings took a big dip this month, most likely due to unseasonably cold weather.

Bag it and tag it
Member
Bag it and tag it

I wonder if Realtors are telling sellers to hold off listing until 30yr amorts are announced.

Oracle\'s dumber brother
Guest
Oracle\'s dumber brother

No realtor will not miss the opportunity to get a listing, they don’t care about the people only the commision.

bullwhip29
Guest
bullwhip29

Canada’s GDP contracted in September, November and now December too
https://www.cbc.ca/news/business/canada-gdp-december-1.5038687

Simple Solution
Member
Simple Solution

How long before we get to hear “great news! now they cant raise rates so mortgages wont go up! Also dollar will go lower so more overseas buyers rushing in!”

Oracle, HURRY and buy before being priced out forever….

bullwhip29
Guest
bullwhip29

Oops, Statistics Canada appears to have released key economic data almost half an hour early
https://business.financialpost.com/news/economy/statistics-canada-erroneously-publishes-gdp-figures-early

Simple Solution
Member
Simple Solution

That was an accident. They were intending to send it to their banking buddies ahead of time so they can be ready…

Hope the mess up doesn’t hurt political contributions

bullwhip29
Guest
bullwhip29

China’s Foreign Ministry grabbed a chance to question the state of judicial independence in Canada on Friday, as Prime Minister Justin Trudeau’s government faced accusations at home that it had tried to intervene to stop a corruption trial
https://nationalpost.com/news/canada/china-has-questions-for-canada-on-judicial-independence-after-hearing-jody-wilson-raybould

Canada is for Canadians
Guest
Canada is for Canadians
Baby boomers bigger energy hogs than millennials: BC Hydro https://www.citynews1130.com/2019/03/01/boomers-vs-millennials-bc-hydro-consumption/ “The majority of boomers live in homes that are over 2,000 square feet, while about 42 per cent of millennials live in homes that are about half that size,” she adds. Baby boomers are twice as likely to have a pool and three times more likely to have a hot tub. They’re also 25 per cent more likely to have a home entertainment system. She says millennials are three times more likely to live in homes that are smaller than 500 square feet. >>> as a boomer myself, I can tell you that my boomer generation has screwed over the subsequent generations both economically and environmentally and it won’t end until the last of us are dead. I feel sorry for the newer kids who are trying to make a… Read more »
Canada is for Canadians
Guest
Canada is for Canadians

FortisBC phasing out controversial two-tiered electricity billing by 2023

https://www.citynews1130.com/2019/02/28/fortisbc-controversial-two-tiered-billing-2023/

“we heard from many residential customers with concerns about the two-tiered rate, particularly those with high energy needs and limited conservation options,”

>>> Fortis heard from the baby boomers ….

bullwhip29
Guest
bullwhip29

baloney…they’re just using this is a cover story to revamp billing, which always equates to higher prices. no different than new and improved eco packaging marketed by the foods co’s or redesigned menus at restaurants

SilentBob
Guest
SilentBob

The damage the boomer generation has wrought will far outlive their physicals deaths friend.

southseacompany
Member
southseacompany

“RBC warns Bill Morneau against stoking home prices again with budget measures” Globe & Mail

https://www.theglobeandmail.com/business/briefing/article-morneau-faces-budget-balancing-act-on-housing-affordability-with-no/

““On the surface, ideas like relaxing the mortgage stress test, extending the maximum amortization period of insurance mortgage, or increasing the amount of RRSP take-out for a first home down payment might bring short-term relief to buyers,” he added in a study this week.

“But they do nothing to address what we believe is the root of Canada’s housing woes: gaps in the mix of housing options in some of Canada’s larger markets. Meanwhile, the measures won’t address the issue of high household debt, and may actually inflate home prices.””

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