It’s the weekend and that means its time for another open topic discussion thread!
So what are you seeing out there? Are you putting your money into condos, land or a tin can in the back yard?
Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!
Horgan announces the next fast ferry projects for BC. The fast ferrys were auctioned off for pennies on the dollar after Glen Clarke tried to help the BC ship building industry. The end result was a billion lost of tax payer dollars and the the industry shutdown. Even BC ferrys stopped building ferrys in BC after that project. Not sure they will even get pennies on the dollar for the next white elephants the NDP build. A wooden hospital or maybe a wooden Patullo Bridge? This time it will be $20 billion we flush down the toilet. B.C. premier says wood to be used in two provincial megaprojects. Premier John Horgan told the Council of Forest Industries convention in Vancouver Friday that he has also directed the use of engineered wood, where possible, for the $20 billion in public infrastructure… Read more »
The Tao of Andy Yan
https://thetyee.ca/Culture/2019/04/02/Tao-of-Andy-Yan/
“Greater Vancouver home sales hit lowest point since 1986: Saretsky”
It coincides with Expo 86, a year when the locust invasion started.
https://globalnews.ca/news/5119696/greater-vancouver-home-sales-hit-lowest-point-since-1986-realtor/
It’s a 33 year low in sales, but considering that Vancouver had half the population in 1986 it may as well be an ALL TIME LOW in sales.
Notwithstanding population change, you also can’t compare our market to the early 80s. Condos were a much lower portion of the market at that time, so total sales would be lower. This is the basically the worst downturn in sales we’ve ever seen. 2009 had a terrible March. The World stopped at that time. Phones literally stopped ringing everywhere. And somehow we found a way to go even lower even though we built 200,000 condos since that time (+/-). Inventory on the other hand is not at unprecedented levels. I’m of the view that’s also important. I think the downturn can only go so far without inventory hitting highs. I think a lot of inventory would be evidence of a ‘frozen’ market, which is how I would characterize the 2009 downturn. The market was able to bounce once the deadlock… Read more »
“Saretsky said prices are in fact taking a dip, however the slide isn’t evenly distributed.
“You know you can probably get a 40 per cent discount at a house in West Vancouver, but you might only get a 15 per cent discount on a house in East Vancouver.””
“He added that condo sales also saw an 18-year low last month.”
Ballad about Yang and Wang…
“According to a ruling in B.C. provincial court, Judge Reginald Harris found Anbo Wang acted in self-defence when he poured the water over the head of Mr. Yang, who he had been living with “peacefully” for the previous year.”
Yang and Wang.
it sounds like a comedy act.
New
370
Price Change
133
Sold
73
TI:13392
Didn’t dip below the 13K mark with month-end expiries. Interesting. Good solid foundation for inventory and MOI growth going forward.
Yup, after the anticlimactic federal budget affordability measures announcement, sellers realize help is NOT on its way and will start to capitulate.
In North America’s Biggest Uber Holdout, It Pays to Know Chinese https://www.bloomberg.com/news/articles/2019-04-01/in-north-america-s-biggest-uber-holdout-it-pays-to-know-chinese
This article is interesting about how the rules are applied differently.
Of course, when fucks are above the law.
more mortgage fraud…
“‘Making money off trusting, innocent people’”
or more like “gullible greedy people” …
We need to support Philippines, especially after its people have done so much for Canadian families….
In Philippines, support mounts for South China Sea ‘crimes against humanity’ case against Xi Jinping
https://www.scmp.com/week-asia/geopolitics/article/3003379/philippines-support-mounts-south-china-sea-crimes-against
China needs to be put in its place. Hopefully the west causes a massive financial crisis there.
Why is it flexing its muscle at a peace loving country such as the Phillipines?
US-China trade war inactivity could lead to the ‘worst recession in recent Chinese history’, says scholar
https://www.scmp.com/economy/china-economy/article/3004143/us-china-trade-war-inactivity-could-lead-worst-recession
Coming to a kindergarten near you
Kindergarten teacher in China arrested for allegedly poisoning pupils’ porridge, sending 23 to hospital
https://www.scmp.com/news/china/society/article/3004212/kindergarten-teacher-china-arrested-allegedly-poisoning-pupils
Why is Donald Trump not selling F-35s to Taiwan to defend itself? heck, US should be arming and training Taiwan military force to take back China from CCP rebels and re-establish ROC along with democracy and freedom.
Donald Trump nears sale of new F-16V jets to Taiwan, a move seen as ‘huge shock’ to Beijing
Happy April fuels’ day? B.C.’s carbon tax hike kicks in
https://www.citynews1130.com/2019/04/01/bc-carbon-tax-gas-prices/
Turd tries to save the planet by bankrupting regular Canadians ….
That extra 1 cent per litre is going to bankrupt you?
Taiwan will forcefully expel PLA warplanes next time: Tsai Ing-wen
https://www.scmp.com/news/china/military/article/3004119/chinese-jets-incursion-across-taiwan-strait-beijings-way
India is with your people KickMeOut!
Maybe it was an April Fool’s joke and the vermin have a sense of humour after all.
NAH!
Bank of Canada’s Poloz leaves out reference to future rate hikes from speech
thanks alot all you central banker’s who have bungled the interest rates issue so badly. You have basically screwed over the millenials and everybody else other than the baby boomers who have made out like bandits.
but not all baby boomers …
https://www.citynews1130.com/2019/04/01/big-story-homeless-seniors/
When we have immigrants who are scammers by nature, this is what we can expect from them when they are here in Canada.
well, well, well…yet more evidence to suggest the whole system is rotten to the core and that authorities have to look under every rock and in every nook and cranny in this country, not just in vancouver and toronto. the SIDA’s, KTO’s and other simpleton halfwits that think i just make this stuff up can go eff themselves…
And you whites are just finding this out now? WOWowow.
It’s same with my people, the Indians coming here now are the families that scammed to get ahead in their homeland. Only those with money are coming.
The honest ones are working hard back home and not getting ahead….
Sound familiar?
So the gene pool you have on Canada bodes for a very corrupt nation. The honest will get trampled here.
Whenever or wherever is a scam in Canada always the people of the same background are somehow involved. It is like a culturo-national fucking aspect.
Lambo, Land Rovers taken during $22M ICO fraud investigation
https://thenextweb.com/hardfork/2019/04/01/vanbex-cryptocurrency-fuel-etherparty/
Only in Vancouver. Who sane would enter into any business with these two clowns, let alone invest some money?
https://cryptosumer.com/wp-content/uploads/1c87862d21-681×454.png
Vancouver has always been the scam capital of Canada all the way back to the old VSE and Murray Pezim etc in the 1970s/ 80s. This last decade it’s been real estate speculation but now that’s collapsing so the quick buck artists will move on to something else.
it has been a gathering place for scammers and other sketchy individuals since the town was first born
The marijuana industry was huge in the 90’s and early 2000s. I think that had a big role to play in our housing bubble because our local economy created a huge money laundering industry. Barbers, restaurants, massage parlours, etc… were created to get that illegal money into the economy. I think our regulators turned a blind eye to the whole thing thinking all that money wasn’t a bad thing because it was economic activity. I think a lot of those ‘cash’ businesses now enable and support real estate speculation with illicit foreign money. Meanwhile guys like Patriotz actually believe that Canada has low corruption. No, it just looks low because nobody does anything about it. The people making up those stats don’t live in this City and have any clue what’s really going on. Ten years ago, pot exports from… Read more »
B.C. government offers leniency as speculation tax deadline passes
As many as 112,000 B.C. homeowners are about to get bills in the mail for a tax that they shouldn’t be paying
https://vancouversun.com/news/politics/rob-shaw-b-c-government-offers-leniency-as-speculation-tax-deadline-passes
So more backtracking by the NDP? What a bunch of clowns!
$770 / 6br – 2395ft2 – Large Luxury house in S. Burnaby-perfect for large group
https://vancouver.craigslist.org/bnc/apa/d/burnaby-large-luxury-house-in-burnaby/6853527014.html
A 6 bedroom house crammed with 12 beds (some king sized)
“perfect for vacation rental / event hosting / Summer Camp”. Yes and I’m sure the neighbours will just love this set up ….
Very exclusive, upscale place with high-end furniture and appliances. That 2 pork-chops are just breathtakingly glamourous.
love it…the luxurious tear down on rumble just steps from the cemetery. it looks as though owner spent a couple hours shopping online, maybe a trip or two at costco and likely made a few calls to family and friends for hand-me-downs prior to slapping this nonsensical hodge podge together. i recommend he/she take a look around town at some of the competition and maybe reassess things a tad
Dafuq, did that green chair come out of an ’82 Oldsmobile?
Today is the deadline to file your B.C. speculation tax declaration
Why isn’t Eby doing something about that ICBC dumpster fire when it….oh wait…big changes come into force tomorrow.
https://www.cbc.ca/news/canada/british-columbia/icbc-car-insurance-changes-1.5076098
Body shops are making more than ever before. Just labour and paint for a minor dent in the bumper nets them $900!! And that’s without any parts or complicated sensors.
Labour $600, Paint and “Shop supplies” lol $200 and tax.
The work is usually done in a few hours.
But people too dumb to realize what’s going on. Biggest rip offs ever.
That is awesome. Eby has solved the dumpster fire by cutting insurance coverage. Next up he will cut BC medical costs by cutting coverage for doctors visits. You only get 1 visit per year. Pure genious. I’m glad he never looked at the cost waste and rot at ICBC. Itself.
No, you don’t get to compare ICBC to health care.
Nobody would ever accept such an argument.
RE: Valley Booming
2158 Lonsdale Crescent, Abbotsford
Nov 5:$745,000
Mar 16: $680,000
Change: – 65000.00 -9%
A: $689,100
31888 Beech Avenue, Abbotsford
Sep 21:$599,900
Mar 20: $548,000
Change: – 51900.00 -9%
A: $607,000
2827 Cambridge Street, Abbotsford
Jan 25:$720,000
Mar 15: $619,999
Change: – 100001.00 -14%
A: $640,600
7 33341 Hawthorne Avenue, Abbotsford
Oct 15:$999,500
Mar 11: $865,500
Change: – 134000.00 -13%
A: $964,000
Oracle disrespectfully disagrees.
Highest MOI in a decade. Lots of immigrantzez to fill that there inventory tho LOL.
https://scontent.fyvr3-1.fna.fbcdn.net/v/t1.0-9/55819042_127431041701912_9095732223067291648_n.jpg?_nc_cat=109&_nc_ht=scontent.fyvr3-1.fna&oh=b440413036bd5e225d1944e9536aca49&oe=5D039BF0
MOI is going up again, around 8 now.
Two months from now it will be in double digits with price decreases accelerating.
But the valley will still be on fire 🙂
what site is that?
Nice info there, I hadn’t seen this site before.
Sales at lowest ever, MOI highest in decades if not ever, under construction and completions at highest ever.
This is a Category 5 storm and it’s still a few miles off the coast.
China Never Was A Superpower—And It Won’t Be One Anytime Soon
https://www.hoover.org/research/china-never-was-superpower-and-it-wont-be-one-anytime-soon
““Grand unity” sounds benign, but Mao was evoking tianxia, the notion that the world was united and that the Chinese ruled it, presiding over “all under Heaven.” This “China Order” concept underpinned two millennia of the imperial system.” “Deng may have shared Mao’s goal for world domination. After all, in 1989 and 1990 he famously issued instructions to Chinese officials to, among other things, “hide our capabilities” and “bide our time.” “Xi Jinping, Hu’s successor, has not been that subtle. He has thrown caution to the wind, making it clear he believes, as did Chinese emperors, that he is the world’s only legitimate ruler. Xi’s Beijing believes its destiny is to unify humankind, to make, as Georgia Tech’s Wang points out, “the China Dream into the World Dream.” Oh great, a world ruled by the worst people on earth. What… Read more »
“Why the global economy can’t handle higher interest rates”, Globe & Mail
https://www.theglobeandmail.com/business/article-why-the-global-economy-cant-handle-higher-interest-rates/
“It was 10 years ago, in April, 2009, that Bank of Canada governor Mark Carney chopped interest rates for the final time, taking them as low as they could go, within a hair of zero. What is remarkable is how little interest rates have budged since then. In the intervening years, the Canadian economy has bounced back from its crisis-era layoffs.”
“This was not the way things were supposed to work. Policy-makers expected a far quicker, far more vigorous rebound in interest rates that would take us back to normal in short order. But Canada and the rest of the globe are discovering an inconvenient truth: Once you enter the world of low interest rates, it is awfully difficult to leave.”
Only way out for Canada is massive immigration.
Ironically, the more they do it the more it kills other industries as real estate prices skyrocket.
Can’t have a productive Canada unless land costs are brought down.
Legal? (WTF does the word ‘upscale” have to be included in RE almost in knee jerk fashion ??)
Should include this in the description:
Welcome to Vancouver……learn why it will soon be called Hongcouver.
Demographic changes are since 1986 are subject to various theories…like the drop Caucasians were either kidnapped by aliens or working in Chinese sweatshops.
Learn why WW1 and WW2 were a waste of time……while fighting in the West they left to Eastern back door unguarded for foreign locusts.
Added features
For a few yuan/fentanyl/laundered funds etc. . we can throw in SIDA…Vancouvers favourite Sino Apologist as your chauffeur and errand boy . SIDA can regale you with rebuttals and contrarian views that deny the blatantly obvious. He will call you a racist unemployable dumbass f*cktwit if you pat him on the *&%$ .
