Friday Free-for-all! March 1st 2019

Well, well, well. Will you look at that, it’s Friday already!

And that means it’s open topic thread time again, here are a few recent links to kick off the chat:

RBC warns against stoking home prices
BC money laundering an ’emergency’?
End of the month inventory
7% correction same as 30 year mortgage
Soft landing

So what are you seeing out there?

Post your news links, thoughts and anecdotes in the comments below and have a fantastic weekend!

Sort by:   newest | oldest | most voted
Laibach
Member
Laibach

Bank of Canada to cut rates before the end of 2019: Capital Economics

https://ca.finance.yahoo.com/news/bank-canada-cut-rates-end-2019-capital-economics-152607141.html

Watcher
Guest
Watcher

And soon after that, cut rates more, and after that bring back 30 year insured mortgages. And if that doesn’t work then bring back 40 year mortgages. And if that doesn’t work, remove the foreign buyers tax and if that doesn’t work, remove the spec tax. You get the idea.

Watcher
Guest
Watcher

For the last 20 years the Canadian gov has tuned the housing market up and down to manage the economy. Why have they suddenly lost that ability?

Royce McC
Guest
Royce McC

They have not lost that ability. But their leverage is decreased (e.g. much harder to cut rates when they’re already at emergency lows). And, more significantly, siding with existing owners/ buyers – promoting high prices at any cost – is an increasingly fraught move since the number of voters on the “wrong”/ “losing” side of the real estate equation is growing. It might be a bad move to talk down real estate prices, but pulling the FBT or spec tax will also make a lot of votes disappear instantly as well.

Simple Solution
Member
Simple Solution

i think the technical term for their position is “fucked”

xhistory
Guest
xhistory

Close, the star is named Phecda

Dave
Member
Our whole financial and tax system is in a bit of mess because of the Great Recession. The people with assets made out like bandits. The people without assets didn’t. And now we get governments (both Federal and Provincial) that are jacking up tax rates. What we really need are increased taxes on assets and a freeze on income taxes. We shouldn’t be punishing people trying to create wealth. If we want to rebalance things, it has to be done on the asset side, meaning real estate. But we’re run by idiots and our bankers only have one solution to an economic downturn and that’s to open the monetary spigots. So, who wants free money? It’s coming back so get ready. The people with the assets are going to make out like bandits again. You can complain about how this… Read more »
Oracle
Guest
Oracle

We are not run by idiots.

They have dumbed down those without assets and they end over and take it.

Any other place in the world and there would be riots.

They like keeping people on blogs while the asset class travel the world and enjoy everything.

Dave
Member

Drama Teacher – Federal Leader
Keg Waiter – Provincial Leader
Fire Fighter – Municipal Leader

Laibach
Member
Laibach

Democracy at its best. Everyone gets a chance to try something interesting.

// sarcasm

Royce McC
Guest
Royce McC

“Any other place in the world and there would be riots.”

Some form of this story, with slightly different local flavors, is playing out worldwide.

bullwhip29
Guest
bullwhip29

the various players are launching trial balloons right to see which way the wind is blowing. the fact that these ideas are being tossed around openly might already influence one’s decision to buy/sell. given what has happened over the last generation i’d say FOMO is permanently etched onto the psyches of millions of Cdns and people would be slitting their throats if they miss the boat again

Simple Solution
Member
Simple Solution

So the maxed out fully levered consumer is going to consume even more by increasing debt…

Yes, I think that is a good plan

bullwhip29
Guest
bullwhip29

a tricky game they are playing. first timers/renters want help, so i think they get it. these proposed measures may also cause some prospective sellers to back off. i doubt a re-launch of RE into outer space is possible or even desired by the powers that be at this stage of the game. anyway, we’ll see…

Oracle
Guest
Oracle

In the Indian community, views are this next correction will be the last time to buy detached or townhomes in metro Vancouver.

And I believe they are right.

The future for those without money but a job is a tiny condo in the futur.

Laibach
Member
Laibach

“this next correction”

this correction or next correction, which one? When will be the “next correction” assuming this correction is going on right now. I don’t understand, when we should buy?

Simple Solution
Member
Simple Solution

Hurry.. you will be priced out forever!

Simple Solution
Member
Simple Solution

They should load up!

xyz
Guest
xyz

I wonder what the economy would look like if you took the money that is being poured into inflated housing and mortgages and redirected it elsewhere.

Simple Solution
Member
Simple Solution

Cray talk! You mean by creating jobs and industry? Insanity!

Oracle
Guest
Oracle

Just because your maxed out or your circle is maxed out doesn’t mean anything.

Other people have money.

Simple Solution
Member
Simple Solution

Well you should get out there and buy the valley!

bullwhip29
Guest
bullwhip29

they’ll start with targeted relief for first timers and lower end of the market before interest rate cuts. the FBT issue is going all the way to the supreme court, so who knows how that plays out. carole james has to tread lightly with respect to her war against the evil satellite families and those that are “suspected” of evading taxes. this strategy of forcing all in BC to prove innocence just to weed out a very small fraction of population will backfire in due course. i wouldn’t be surprised if the number of folks who wind up getting a spec tax notice in error will exceed the number who are supposed to be paying (but ultimately figure out a workaround)

Oracle
Guest
Oracle

You forgot the main one.

Increase immigration and foreign students and ten year visa holders and Super visa holders.

They did a fine job dumbing down the Bears. They don’t even think it’s the main reason for high prices and out of control rents.

Simple Solution
Member
Simple Solution

“Soft Landing” that is hilarious…. after one of the largest speculative manias in history it will all end with a soft landing? How does anyone see this happening? local wages suddenly go up 10X?

Dave
Member

How? Drop rates.

Simple Solution
Member
Simple Solution

Yes, the old create more debt to solve the debt problem solution…

We are heading into recession… Households tapped out… debt at all time highs…

Boombust
Guest
Boombust

You’re such a simpleton, Dave.

Dave
Member

The simplest explanation is the most likely one.

Oracle
Guest
Oracle

Plus foreign money keeps coming in.

The Bears here still haven’t acknowledged the fact we are at record immigration right now.

They won’t even comment on why rents are so high.

The dumbasses think it’s empty homes for fuks sake.

Laibach
Member
Laibach

While what the program calls “affordable rents” increased for studios and one bedrooms from 2018 to 2019, maximum rents for two- and three-bedrooms decreased.

The cap for two-bedrooms dropped nearly 2 percent to $2,703 per month on the West Side and $2,457 in East Vancouver. Three-bedrooms saw a drop of almost four percent.

https://bc.ctvnews.ca/2-056-for-a-one-bedroom-deemed-affordable-rent-under-vancouver-guidelines-1.4317070

Oracle
Guest
Oracle

Again. Quit citing links and go outside and see what rents really are.

Royce McC
Guest
Royce McC

I don’t think “soft landing” is a great term, since I definitely believe there will be a reckoning related to the amount of debt we’ve seen splashed around. But I do think it might be fair to consider whether there will be a (relative) “stay of execution” for the rest of 2019. I don’t want that to be the case. But for there to be precipitous declines in prices I think we need to see listings piling up with more speed and a lot more panic/ gnashing of teeth in the public discourse. I think we’ll see more YOY declines in 2019 in many types of housing, but they might only end up being of the slower, grinding variety (~5%) than of the free-fall variety.

xhistory
Guest
xhistory

Soft landing is an airline term. So is Crash.
Fasten Seat Belts, Departure, FreeFall, Arrival, and Duty Free Shopping
I’m an airport junkie on an expense account

Royce McC
Guest
Royce McC

Instead of “stay of execution” then, I’ll go with “delayed departure”.

Simple Solution
Member
Simple Solution

It will take a long sideways to down grind down to re adjust everything….

Or maybe local incomes will just increase overnight…

Hyper-mega-Bull
Member
Hyper-mega-Bull

incomes are underreported because of u know who.

Watcher
Guest
Watcher

Average local income are very high. Tax reported incomes are low. We all know why.

Simple Solution
Member
Simple Solution

average local incomes high in relation to what it costs to live here? seriously?

Laibach
Member
Laibach

Not reported and taxed incomes are high but those “cash only” or payments back in the motherland and those that we don’t like to talk about. So on average, they are high.

“Non-disclosure of assets is a cultural trait of ethnic Chinese, Jenny Kwan is quoted saying at the time in Millionaire Migrants.

“The Chinese are very private about their money.” A law requiring them to disclose assets, Kwan said, “goes against our culture.”

https://vancouversun.com/news/staff-blogs/thousands-of-metro-vancouver-mansion-owners-avoiding-taxes

Laibach
Member
Laibach

should say: Not those reported and taxed incomes are high…

Simple Solution
Member
Simple Solution

True, I would have much more spending power if I didn’t have those pesky taxes to deal with….

Oracle
Guest
Oracle

You are so behind.

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

People on average incomes aren’t buying houses.

Hyper-mega-Bull
Member
Hyper-mega-Bull

was it a speculative mania or was it caused by huge amounts if legal and illegal money coming into canada from china?

bullwhip29
Guest
bullwhip29

the speculators only poured gas onto a fire that was already raging

Oracle
Guest
Oracle

No one besides me has mentioned immigration in this thread. You guys are hilarious.

Laibach
Member
Laibach

It was a bloody combination of speculative mania driven by huge amounts if legal and illegal money coming into Canada from China + parking of huge amounts if legal and illegal money coming into Canada from China. In any case or scenario, it is money from China that got this housing mess made up.

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

Except we have data which shows that’s not true. You must be forgetful.

Watcher
Guest
Watcher

It happened in 2009-2010 in Vancouver real estate. It also happened in 2012-2014 in Vancouver real estate.

Simple Solution
Member
Simple Solution

Not NEARLY as much leverage and WAY more room to move rates…

$0.75 dollar also an issue… how low can the dollar be allowed to go before it becomes too painful?

bullwhip29
Guest
bullwhip29

another 10-15% downside not out of the question

Oracle
Guest
Oracle

How high are rents allowed to go before they become painful?

You haven’t learned anything son.

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

Rents are a function of incomes. That’s a strong mechanism to prevent them from becoming unaffordable. Oracle loves to ignore this little detail.

Simple Solution
Member
Simple Solution

oh come on… you mean to say that 37 people wont pool thier resources to live in a 1 bedroom windowless basement suite like Oracle fantasizes about?

A 30 sec search on craigslist brings up 4 bedroom homes in valley for < 3K a month. Also 2 bedroom basement suites for <1.5K

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

Those properties don’t exist and the listings are merely Western Union deposit scams – am I right, Oracle?

Simple Solution
Member
Simple Solution

rents are also a function of supply… more units hitting the market as presales complete and there is no greater fool to buy from the speculators.

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

“Soft landing” doesn’t mean what you think it does.

Simple Solution
Member
Simple Solution

Canadian government is allowing the extradition of Meng Wanzhou, the CFO of Huawei….

This should help….

bullwhip29
Guest
bullwhip29

when all is said and done, trump will let meng go free. trudeau will end up looking like even more of an a$$clown than he already does.

Simple Solution
Member
Simple Solution

JustinE TURDo will be long gone before the Meng shitshow will be out of our courts

xyz
Guest
xyz

The downfall of Justin Trudeau

https://www.telegraph.co.uk/politics/2019/02/28/downfall-justin-trudeau/

Looks like he made it to the Telegraph today.

Laibach
Member
Laibach

Yep, and locals will have to put up with that shit around for a while.

“Extradition cases can stretch on for years, winding in and out of court with many avenues for appeal. In deciding on Meng’s bail, B.C. Supreme Court Justice William Ehrcke cited two such cases that dragged on for a decade or more.”

patriotz
Member

“Canadian government is allowing the extradition of Meng Wanzhou, the CFO of Huawei….”

No. The government has decided to let the extradition case go to trial. The judge may or may not find for extradition. If not, she goes home. If so, and after appeals are exhausted, the government gets a final opportunity to approve or deny the extradition.

Simple Solution
Member
Simple Solution

February sales were a disaster… No Chinese New Years bump either..

Everyone waiting for the “little correction” to bottom before doing anything… just believe the real estate cartel and all the BS they feed you.. This is going to rebound!

bullwhip29
Guest
bullwhip29

Pot pardon legislation coming soon
https://www.cbc.ca/news/politics/pot-legislation-coming-goodale-1.5036113

>>> let the targeted vote buying commence…

Simple Solution
Member
Simple Solution

https://globalnews.ca/news/5011691/china-canada-judicial-independence-snc-lavalin/

Love it when they lecture the lesser beings on earth…

southseacompany
Member
southseacompany

“A ‘wacky time of life’: Wilkinson rejects opportunity to take back his words on renters”< CBC

https://www.cbc.ca/news/canada/british-columbia/wilkinson-liberals-housing-wacky-rental-1.5037988

"A day after Andrew Wilkinson, in prepared remarks in the legislature, called renting "kind of a wacky time of life," and "a fact of life that's a rite of passage," he decided to phone the CBC reporter (raises hand) whose tweets about it had gone viral."

Hyper-mega-Bull
Member
Hyper-mega-Bull

does being a renter suck?

has everyone accepted that the right decision was to buy a house?

or does patriotz still think renters are winning.

Oracle
Guest
Oracle

Patriots bought. And kept telling renters they were winning.

YVR
Guest
YVR

“does being a renter suck?”

Not really. I rent a condo and have not noticed a difference from previously when I owned condos. Other than I don’t have to read strata minutes and worry about all the dumb decisions the clowns on the strata council make, I don’t have to worry about paying for those mistakes the strata council make and over my overall cost is lower. Should I choose to move I give one months notice and it cost me nothing where if I owned I have to pay $50k to sell it plus a lot of hassle. I think all that more than offsets that supposed threat the owner may sell one day which will give me a free mouths rent as compensation.

Simple Solution
Member
Simple Solution

Im a renter too.. Am happy to pay a fraction of what it would cost to own…

I don’t really care what others think, I can do basic math and I know that i am not “throwing money away”.

Simple Solution
Member
Simple Solution
Canada is for Canadians
Guest
Canada is for Canadians

and what happens when we shovel all our money into a dead asset class like real estate … an eventual recession.

Hyper-mega-Bull
Member
Hyper-mega-Bull

20 years later.

Oracle
Guest
Oracle

Rates will drop, immigration will keep at record high, cash economy will prosper.

Laibach
Member
Laibach

Sounds like status quo, quite stable economy and consistent with the past 20 years? No changes, right?

Make Trudeau a Drama Teacher Again!
Guest
Make Trudeau a Drama Teacher Again!
Laibach
Member
Laibach

“Think of it this way, if you found out you couldn’t afford your home, what would you do? ”

Finding it out will be a new miraculous experience for many.

Bubble
Guest
Bubble

Australia housing and the economy: so much like in Canada.
https://youtu.be/xF9SRtTmfRo

patriotz
Member

“Australia housing and the economy: so much like in Canada.”

I would correct that to: so much like in BC. On the whole Oz is a lot worse than Canada.

paulb
Member

New
205
Price Change
79
Sold
77
TI:12110

http://www.clivestevepaul.com

Oracle
Guest
Oracle

Any predictions for April 1st?

I’m going to say 12,900.

And for those wondering why inventory isn’t spiking. People who own multiple homes are now waiting to have a change in provincial government so the spec tax can be taken out.

If they sell now with it in place, they can’t evade the Capital Gains tax payable on sale.

Source: 2 friends who own rental detached properties that have doubled in value. They would take quite a hit with cap gains if they sell so they aren’t listing even though the flip side is prices may go down a little more. What helps in holding the properties is rents have gone up significantly.

Simple Solution
Member
Simple Solution

So will the provincial government be removing the Capital Gains tax payable on the sale of realestate? I didn’t realize they have that kind of power… Or are you suggesting they will just engage in tax fraud and declare all sales as principle residence exemption.

I see that nice 3+ bed home in the valley can be rented for 3K a month. Decent 2 bed basement suite 1400. I am not familiar with the valley market at all, maybe you can tell me what these rents used to be…

Oracle
Guest
Oracle

You are so dumb.

It’s like saying the cash restaurants in Richmond file 100% of their income.

Totally dumb.

Oracle
Guest
Oracle

And rents 4 years ago were $800 for the suite and $1800 for the home.

Simple Solution
Member
Simple Solution

ok so they will double again in 4 years? without incomes going up? there will not be a point where people cannot pay any more?

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

No, they will triple. Because 8.4bn foreign students are arriving each and every week. Each buys two properties, then sponsors their entire extended family using an as-yet unannounced immigration programme.

Simple Solution
Member
Simple Solution

Conservative estimates….

Oracle
Guest
Oracle

Shut up colonizer.

Simple Solution
Member
Simple Solution

yes I am totally dumb… I am just pointing out that the only way to avoid the capital gain tax is to commit tax fraud. I know people do it… doesn’t make it legal… and for some it actually does not work out very well at all…

Also, after the government gets all the data and ties it in with CRA do you actually think that CRA will have LESS ability to weed out tax fraud or more?

Specuskeptic
Member

My prediction for April 1st is that there will be a one day spike in fibs, tricks and practical jokes. For you, there will be no change.

Best place on meth
Member
Best place on meth

This months edition of David Eby’s newsletter “WARE EEBEE!!!” is out.

https://mailchi.mp/leg/7tgzvd4ozd?e=e46d1d4b50

After a number of policy interventions by all three levels of government, we are finally starting to see some moderation in prices in our housing market. Over the last six months, the benchmark price for single family homes in greater Vancouver decreased by 8.3%, condo prices are down 6.6%, and townhome prices are down 6.2%.

Oracle
Guest
Oracle

Still Unnafirdable north of the Fraser.

What they’ve done is allowed the valley to become unnafordable as well since the election.

And you are cheering that?

Canada is for Canadians
Guest
Canada is for Canadians

The longer you deny the facts (rents are now lower and prices are dropping) the more foolish you look.

Simple Solution
Member
Simple Solution

I disagree… No way he can look more foolish. He has reached PEAK fool

Oracle
Guest
Oracle

I’m doing fine.

I’m hoping for a further $100K decline and I’ll be fine.

Will you?

Simple Solution
Member
Simple Solution

I will be fine too… thanks for asking…

And you will get your further 100K decline – don’t worry. You will probably get even moe than that…

What you wont get is a snap back rise in prices… we are in for a period of sideways grind after we hit bottom – whenever and wherever that happens. Realistically we will know we have hit bottom 18+ months after the fact

Oracle
Guest
Oracle

That’s even better if further declines.

And why do you think I’m an owner? I was 6+ years ago but sold as was outlined on this blog.

The newbies need to read that far back.

So remember, anyone making a bull case isn’t always an owner. Got that?

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

Was that before or after you lied about your Surrey build?

Specuskeptic
Member

Oh, I think Boracle can surprise us with how much a fool, liar, and tedious bore they can be. I will admit that the Boracle panic index has been climbing of late… perhaps it will go to the mooooon.

Oracle
Guest
Oracle

You guys are totally out to lunch or are trolls. I visit open houses under $1 million every weekend and check rentals out in the valley as well.

You are totally delusional if you’re basing everything on cherry picked listings. 13,000 listings and you guys rely on the 50 outliers per week. WOWowow.

Simple Solution
Member
Simple Solution

by outliers you mean the ones that actually sell?

YVR
Guest
YVR

Eby is a fraud and he lies. From his “newsletter”:

The budget projects a 35% increase in housing starts over the previous government’s projections in their last budget, and we continue to make progress in bringing affordable housing, including rental housing, on the market quickly.

In reality housing starts in the NDPs own budget are forecast to drop by 30% in the next 3 years. How is that gong to help affordable housing? Only in the NDP world does less housing starts help affordability.

The NDP budget forecast a drop in housing starts by as much as 30 per cent across B.C. over the next three years

https://www.timescolonist.com/real-estate/near-record-b-c-housing-starts-expected-to-fall-prompting-debate-over-supply-1.23643743

southseacompany
Member
southseacompany

“CMHC sets target to make housing affordable for every Canadian by 2030”, Financial Post

https://nationalpost.com/pmn/news-pmn/canada-news-pmn/cmhc-sets-target-to-make-housing-affordable-for-every-canadian-by-2030

“Over the next year, the agency plans to dole out some $2.4 billion in loans and funding as part of the strategy”

southseacompany
Member
southseacompany

“RBC to Morneau: There’s no ‘magic bullet’ to solve millennial housing woes”, Yahoo News

https://ca.finance.yahoo.com/news/rbc-morneau-theres-no-magic-bullet-solve-millennial-housing-woes-161736116.html

“Finance Minister Bill Morneau does not have a “magic bullet” budget measure up his sleeve to meaningfully help millennials priced out of the housing market, Royal Bank of Canada warns.”

“RBC senior economist Robert Hogue said efforts to boost demand or up the purchasing power of buyers are likely to inflate home prices, making it more difficult for the next generation to enter the market. He said new measures on that front would also add to already high household debt.”

southseacompany
Member
southseacompany

“Millennial homeownership rates in Canada consistently higher than in other countries: RBC”, Bloomberg

https://www.bnnbloomberg.ca/millennial-homeownership-rates-in-canada-consistently-higher-than-in-other-countries-rbc-1.1222379

“Finance Minister Bill Morneau may be looking to make home buying more affordable for millennials, but a new report from RBC Economic Research reveals ownership rates among young Canadians are high compared to other countries.”

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

Foreigners made them do it.

Simple Solution
Member
Simple Solution

FOMO made them do it….

Best place on meth
Member
Best place on meth

For once, you’re right.

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

How were they forced into buying, genius?

YVR
Guest
YVR

“Millennial homeownership rates in Canada consistently higher than in other countries: RBC”

Do you think all those N driving Lamborghini millennials are part of this? Plenty of millennials who own in Point Gray but most wouldn’t consider them locals.

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

And you think they have an impact on the national statistics? Oh my.

YVR
Guest
YVR

Of course they have an impact. Are you claiming they are not counted?

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

Don’t be silly. Good trolling, though. Keep it up.

Oracle
Guest
Oracle

Spoken like a true colonizer.

Wait until Meng is extradited and your panty gets tied in knots.

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

I fail to see the relevance. Nor do I care about the outcome of that situation.

patriotz
Member

“Do you think all those N driving Lamborghini millennials are part of this?”

Sure. Given there are about 7 million millennials in Canada, I would about 1 part in 3000.

“According to ICBC, there are more than 2,000 vehicles registered in Metro Vancouver with a price tag of more than $150,000.”

https://globalnews.ca/news/2447804/metro-vancouver-the-luxury-car-capital-of-north-america/

YVR
Guest
YVR

Leave it to Patriditz to take the Lamborghini part literally.

patriotz
Member

“Of course they have an impact.” “Leave it to Patriditz to take the Lamborghini part literally.”

You mean I wasn’t supposed to believe you really meant it? Well that’s a nice out for a spurious argument.

YVR
Guest
YVR

Patriditz, yes I meant it but of course not all HAM millennials drive Lamborghini with N stickers. Most drive cars like Mercedes, BMWs, Range Rovers, etc which are priced at under $150K, therefore your ICBC stat which only captures cars at above $150K is irrelevant. Like I said only you would take the Lambo comment literally. A typical Patriditz nit pick. You must be a ton of fun at parties (that is a joke, I don’t need you to tell me you never get invited to parties).

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

YVR can’t even remember the point he was trying to make. What a clown.

YVR
Guest
YVR

The point it you and Patriditz are both communist apologists who deny HAM has any impact on housing. Clear enough for you?

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

Deny? You make it sound like you have statistics and data in your favour. You don’t. The ones in denial are those who refuse to acknowledge that people who look like them, their neighbours, family, and friends could be collectively responsible for inflating this gasbag. I mean, all the data was currently have points to that very explanation. You’re welcome to bring corroborating facts to the point you were trying to make about rich millennials – if you can remember what the fuck it was, of course.

Communist? I’ll assume for now you’ve got no idea what that means because I’m certain you cannot provide any evidence that I am one. Good fucking luck with that argument, clown.

YVR
Guest
YVR

“I’m certain you cannot provide any evidence that I am one.”

All locusts are communists.

Now rather than spend all weekend endlessly ranting on this blog go practice driving and see if you can get that N sticker taken off your bumper one day. You could be the first locust in your family to get the N removed.

Laibach
Member
Laibach

“We discussed it – would we have done the same thing as what Kyle did? I think we would have.”

https://www.vancouverisawesome.com/2019/03/01/man-finds-cash-skytrain-station-vancouver/

Canada is for Canadians
Guest
Canada is for Canadians

No one normally walks around with 8k in hundreds.
Laundered drug money being sent over to china most likely.

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

There are many possible reasons to have that much cash. It’s not a common requirement but don’t pretend for a second there’s no legal explanation here just because it suits your narrative.

Canada is for Canadians
Guest
Canada is for Canadians

Bank draft or cashiers cheque works better.

Oracle
Guest
Oracle

True. That like rent from 3 rental places.

Laibach
Member
Laibach

Wherever money came from chances of having tax paid on it are pretty low. Usually these sort of amounts would go around through the bank accounts. CRA should check it out, I believe Chu family would welcome that.

Bubble
Guest
Bubble

These Aussie couple should have sold last year, now holding the bag:
https://www.youtube.com/watch?v=0UCRjtsZNNY

BubbleTea
Guest
BubbleTea

Coming to Vancouver.

StupidityCheck
Guest
StupidityCheck

Favourite line, “we had some offers last year, but we’re not going to give it away”!

Didn’t take long to find locusts in that neighbourhood, either. Complete with tacky gold furniture and a “second kitchen.”

https://noeljones.com.au/property/36-percy-street-balwyn-vic-3103-pinnacle-of-family-living-entertaining/

patriotz
Member

Can China recover from its disastrous one-child policy?

That’s one big problem that will hobble China going forward. The other is political stagnation.

Oracle
Guest
Oracle

They need to grow their population and we can help by carbon taxing the locals to death.

The local fools will think they are helping the environment.

franko
Member
franko

It may be a big problem for China and those who admire the dictatorship of China more than any other country. But for the rest of the world, the only thing better that the one-child policy would be a no-child policy.

Best place on meth
Member
Best place on meth

Even their population numbers are fudged.

Fertility rate of 1.6 is well below the 2.1 needed to keep the population stable, yet they’re still reporting growth, just like they do with their fake GDP numbers.

For all we know their population could have been contracting sharply for the last decade.

patriotz
Member

“Fertility rate of 1.6 is well below the 2.1 needed to keep the population stable, yet they’re still reporting growth,”

South Korea’s birth rate is below China’s, yet their population is still growing and their numbers are reliable IMHO. You generally don’t see absolute declines until the number of child bearing women falls off, and China’s birth rate didn’t drop below 2.1 until about 1990.

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

He knows best.

Best place on meth
Member
Best place on meth

So we’re just waiting for a mass menopause to hit china, awesome. The sooner the better.

By the way, SK has another advantage over china to keep their population growing despite their low birthrate, people actually want to live there.

Net immigration:

South Korea + 40,000

China – 325, ,000

Best place on meth
Member
Best place on meth

China’s Employed Population Shrinks for First Time Ever

https://www.caixinglobal.com/2019-02-28/chinas-employment-population-shrinks-for-first-time-ever-101385483.html

At the end of 2018, the number of people employed fell to 776 million, a drop of 540,000 from 2017, according to annual census data published Thursday by China’s National Bureau of Statistics (NBS).

The working-age population, or people between the ages of 16 and 59, also shrank — for the seventh consecutive year, down a total of 2.8% from 2011 to 2018, a clear sign that China’s population is aging rapidly.

bullwhip29
Guest
bullwhip29

Meng Wanzhou files civil claim against CBSA, RCMP and federal government
https://www.cbc.ca/news/canada/british-columbia/meng-wanzhou-civil-suit-1.5041064

SilentBob
Guest
SilentBob

Seems pretty frivolous to me, and I hope that the people handling her extradition case take the same view. That said, in this day and age, who knows? Personally I’m embarrassed by what Canada has become.

Oracle
Guest
Oracle

Keep up th Asian immigration. It’s gonna get much worse.

Best place on meth
Member
Best place on meth

Lock her up!

bullwhip29
Guest
bullwhip29

Global News airs infomerical featuring Barry Manilow, President of the Real Board of Greater Vancouver
https://globalnews.ca/video/5017258/ask-an-expert-real-estate-7/

Doomcouver
Guest
Doomcouver

I think I’d rather get real estate advice from the actual Barry Manilow. How many asset collapses do we need to see before people start ignoring these so-called “experts”.

southseacompany
Member
southseacompany

“Why scrapping the mortgage stress test is a bad idea”, Globe & Mail
https://www.theglobeandmail.com/business/commentary/article-why-scrapping-the-mortgage-stress-test-is-a-bad-idea/

“Unfortunately, the argument is a little too self-serving. What really worries real estate agents, mortgage brokers, home builders and developers is the cooling housing market. The boom of recent years has been great for business, and no one wants it to end.”

“So, please, don’t pretend it’s about making homes more affordable for young Canadians.”

“The surest way to make an asset cheaper is to let a market crash. So if these new apostles of affordability truly believe the stress test is killing the housing market, prospective home buyers are in for a treat. All they have to do is wait for prices to tumble.”

southseacompany
Member
southseacompany

Petition on Change.Org

“Mr. Morneau, don’t drive up home prices by loosening lending standards.”

https://www.change.org/p/bill-morneau-mr-morneau-don-t-drive-up-home-prices-by-loosening-lending-standards-f32354e9-d7e5-4852-b2b4-d26365433e08

Ddhg
Guest
Ddhg

Why do I care. I thought that consumers were tapped out?

Best place on meth
Member
Best place on meth

Why hasn’t that crook resigned yet?

Best place on meth
Member
Best place on meth

Christy Clark says there’s no wrongdoing in the SNC Lavalin scandal.

https://twitter.com/BradWestPoCo/status/1102318804556668930

Just goes to show how toxic and corrupt that party is. They have zero shame, no wonder they have such an affinity for communist chinese.

Canada is for Canadians
Guest
Canada is for Canadians

Her moral compass is really broken.

Just me
Guest
Just me

What moral compass? I don’t think she ever got one….

Oracle
Guest
Oracle

Where are the c o p S on all this? Probably monitoring blogs like these.

Canada is for Canadians
Guest
Canada is for Canadians

China accuses detained Canadians of stealing state secrets

https://www.citynews1130.com/2019/03/04/chinese-state-news-agency-says-detained-canadians-acted-together-in-stealing-state-secrets/

When is the Turd going to get tough with China? Oh right never, because doesn’t have a backbone.

southseacompany
Member
southseacompany

“February home sales in Vancouver area fall 42.5 percent below 10-year average; prices off 6.1 percent in a year”, Georgia Straight

https://www.straight.com/news/1208876/february-home-sales-vancouver-area-fall-425-percent-below-10-year-average-prices-61

“last month’s benchmark price for all residential properties in the REBGV’s area was $1,016,600—down 6.1 percent from February 2018.”

“Listings for February were 48.2 percent higher than the same month last year, lifting the sales-to-active listings ratio to 12.8 percent.”

StupidityCheck
Guest
StupidityCheck

But muh Open Houses…

Simple Solution
Member
Simple Solution

Perhaps the problem is open houses are so crowded buyers just can’t get in….