One half year into a decline

It’s not just Vancouver, sales are falling across the nation marking the first March decline since the recession.

Prices fell in seven of the 11 markets in the index, led by a 1.5 per cent drop in the capital region of Ottawa-Gatineau. In Victoria, British Columbia’s capital city, prices were down 1.1 per cent, with Vancouver prices down 0.5 per cent.

Canada’s once-hot housing market has softened since the start of last year, as tighter mortgage rules and five interest rate hikes from the Bank of Canada since July 2017 have curbed buyer spending power.

Read the full article here.

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patriotz
Member

Courtesy Andy7 at HHV. Actual price declines on condos since 2017 sale.

2801 – 660 Nootka Way, Port Moody
Bought 2017 $649,000 Just sold for $632,500
2018 Assessed: $694,000 2017 Assessed: $660,000

502 1050 SMITHE STREET, Vancouver
Bought 2017 $930,000 Just sold for $830,000
2018 Assessed: $884,000 2017 Assessed: $858,000

Make Trudeau a Drama Teacher again!
Guest
Make Trudeau a Drama Teacher again!

Thank god back to Real Estate.

If I wanted to read about Trump I would go to the dozens of other sites that talk about it.

Royce McC
Guest
Royce McC
Right? I’m 100% fine with bringing him up if it’s a discussion about his impact on real estate here. I mean on the one hand, given the source of much of the foreign $ in this market, it might be useful to have a “bull in the *ahem* china shop”. On the other hand… do I really believe Lower Mainland real estate is going to be helped by 1) a real estate developer who 2) is opposed to Fed rate increases and will probably resist them if he can find a way, 3) doesn’t have a problem with sketchy gaming of the tax system, and 4) is a baby boomer? Not really. In real life, I’m going to stick to pushing back on BS narratives like the “suffering” owners of Belcarra and morons who talk about “envy taxes”. Hopefully others… Read more »
Oracle
Guest
Oracle

You need all cylinders firing! The time to be ‘nice’ is long gone. Heck, bring in far right parties wanting zero immigration.

What you want to be over 40 before you can buy? That is utter failure as your home would never get paid off.

Laibach
Member
Laibach

Very odd sense of humor…

Couple came to Canada to build a life — now they have over $1 million in savings and no debts at all

https://business.financialpost.com/personal-finance/family-finance/couple-came-to-canada-to-build-a-life-now-they-have-over-1-million-in-savings-and-no-debts-at-all

Strata Hacker
Guest
Strata Hacker

Say, where is the Chinese AIDS Infestation? Didn’t he say Mueller was going to lead Trump and his family out of the White House in handcuffs? What a loser.

StupidityCheck
Guest
StupidityCheck

The regulations didn’t allow Mueller to indict Trump. But he did compile a boatload of evidence of obstruction that Congress can use for his impeachment — along with 20 other ongoing investigations into the Trump crime family.

It’s only a matter of time.

YVR
Guest
YVR

Keep hoping stupid guy, keep hoping. There is zero chance of impeachment. Besides there being no evidence and the AG clearing him, the democratic leadership has shot impeachment down. But even if they did try they need republicans in the house to get it to go forward and the republican run senate to convict him. Zero chance. Quit watching fake news.

Best place on meth
Member
Best place on meth

Zero evidence of anything and you sound like Alex Jones, but worse with extremely elevated levels of TDS.

The next 6 years are going to be horrific for delusional partisans like yourself.

You should turn off all sources of media and remove all sharp objects from your home.

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

LOL. You’re a joke. I’d love to see whatever garbage website you read to establish that there was “zero evidence of anything”, as you certainly did not read the report. If you had you would have seen that there was plentiful evidence of many things, just insufficient evidence to make Mueller believe he could clear the (high) bar of proving willful criminal intent. I can provide direct quotes if you like? There are real some gems in there.

Delusional partisan indeed.

YVR
Guest
YVR

“I’d love to see whatever garbage website you read to establish that there was “zero evidence of anything””

The Mueller report and the AG report.

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

Great, then it should be no trouble for you at all to provide a direct quote where Mueller clearly states that there’s “no evidence of anything”.

Good fucking luck, imbecile.

StupidityCheck
Guest
StupidityCheck

False flag idiot keeps repeating the idiotic “no evidence” crap no matter how many times we prove him wrong. Then he calls other people idiots…

Best place on meth
Member
Best place on meth

I was warned that the psychos wouldn’t accept the results, and boy were they ever right.

How are you delusional, pitiful lowlifes going to deal with the blow back of the investigators now being investigated themselves and facing prison time and/or suicide?

RIP Comey, Clapper, Brennan, Strzok, McCabe, Ohr, Rosenstein, …..

I’m looking forward to justice being served .

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

The report states quite clearly that Congress can pursue charges of obstruction. Yet strangely you’re the one who’s denying that the president may still be in legal peril. Why is that?

YVR
Guest
YVR

“I’m looking forward to justice being served .”

20 years for the half white president.

Best place on meth
Member
Best place on meth

You’re insane.

Like, the drooling variety.

Trump 2020 landslide!!!!

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

No link to the website you got that crap from then? Figures.

Zero evidence of intelligence, more like.

Best place on meth
Member
Best place on meth

Go to sleep, ok?

Dave
Member

The most unreported story here is how the goalposts shifted. Idiots were blabbing on for two years about how convincing the case for collusion was. Now that collusion has been disproven, they shift to obstruction. As if anybody really gives a shit that Trump pushed back. You’re crying about nothing idiots. The fact that you aren’t happy about this outcome is proof it’s all politics. Pathetic.

StupidityCheck
Guest
StupidityCheck

Collusion hasn’t been “disproven” you obnoxious, pretentious prick. Muller ONLY looked at whether members of the Trump campaign were DIRECTLY involved in a criminal conspiracy with the Russian Government to hack and dump — before the fact.

Did Russia help Trump? Absolutely.
Did Trump campaign encourage them? Yes!
Did trump campaign share private polling data with Russia? Yes.
Did Team Trump secretly work to remove Russian sanctions? Yep.
Did they lie about it? Countless times!

Those are all examples of collusion that aren’t technically a criminal conspiracy.

BTW, idiot, try reading the report. Mueller farmed-out 14 cases which are still ongoing. Save your smart-ass remarks for when all investigations have been completed.

P.S. Why the f*ck do you support this lying, corrupt, career criminal sociopath? Cuz he hates brown people? To “own the libs”?

YVR
Guest
YVR

“Collusion hasn’t been “disproven” ”

Innocent until proven guilty. Look it up Commie. Prosecutors do not prove innocence.

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

Dave used the word disproven. Direct your nonsense at him.

Dave
Member
I know you don’t see it, but this is wacky conspiracy tinfoil hat territory. You have gone full truther. You’re basically Alex Jones. Ya ya, hard to believe right? Copy and paste this thread and look at it in ten years. Your thoughts won’t age well. Hell just go read your Twitter timeline from the last two years and see how well that aged. I don’t say that to be mean but to help you in being self reflective. “Your Team” was wrong for two years day in and day out… maybe take a breather before going full reeeeeeeeee…… I don’t agree with Trump on all sorts of things. I’m more of a Libertarian and Centrist than I am a Nationalist. But, I like Trump’s style and I always like winners. Trumps a winner and he wins at everything he… Read more »
Selective Memory
Guest
Selective Memory

There is no ‘Team Trump’. There’s just Trump, surrounded by all the suckers who enable him. An awful lot of whom seem to wind up in jail. Trump is Mr. Zero-Sum. The more he wins the more everyone around him loses.

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

Dave, there’s a gaping chasm between “pushing back” and obstruction of justice. Trump’s style since day one has been the counterpunch and everybody is familiar with it, but I assure you people do give a shit about obstructing justice.

Either way it would not be appropriate to ignore potential obstruction uncovered during the investigation because of some weird notion of “goal posts”. I’m sure you would agree that the president should be held to the highest standards – although it’s all too easy for many to have forgotten that in the past two years.

YVR
Guest
YVR

Obstruction of what exactly? The collusion that never happened? Hard to believe how dumb people believe fake news year after year. They knew there was no collusion from day 1 but the point of the investigations was to try to try for obstruction. They failed. Now the investigation boomerangs back. Obama should be booking a one way ticket to Kenya about now.

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

Yes, of course it’s possible to obstruct an investigation no matter what that investigation’s final outcome is. Especially when you attempt to fire a special counsel.

Now you’re adding a conspiracy theory of your own that the special counsel’s intent was actually to pursue obstruction from day one? With no evidence except your imagination? Pathetic.

And you’re a birther, too? Too funny.

Dave
Member
The President knew he was innocent all along. How can you obstruct a witch hunt in that context? People like you need to think about all the stuff you’ve been spouting for two years and how wrong it all was. This went from one conspiracy to another. The claim of obstruction is just an extension of that. There isn’t a single public issue in the last two years that you couldn’t build an obstruction case against Trump for. He’s weighed in and stuck his fingers into basically everything. Of course he’s going to pressure the investigation. This is the flip side of the Obama birthers. The MSM has gone full on Alex Jones. Either way, it’s over. Dummies can talk about obstruction for the next 18 months and lose the next election, or they can focus on real issues and… Read more »
Shut It Down Already (original)
Guest
Shut It Down Already (original)
The president knew he was innocent all along, and that’s exactly what caused him to declare “Oh my God. This is terrible. This is the end of my presidency. I’m fucked.” His innocence also compelled him to attempt to discredit the special counsel on a daily basis through the most bizarre tweets and also guided him in requesting that Sessions un-recuse himself. Again, it was knowing his innocence which made him ask McGahn to fire Mueller – twice. Only an innocent man would refuse a sit-down interview with Mueller and send insufficient written answers. Mueller specifically did not exonerate Trump of obstruction. That is an irrefutable fact. This is no conspiracy, but I understand why you dearly wish it was. Will they impeach? I doubt it – at least not before the election. Note that my position all along was… Read more »
YVR
Guest
YVR

Second hand reports of Trumps comments are about as reliable as the fake news. Most presidents it would have been done. Not Trump. Trump won. Now the day of reckoning comes. Bill Barr is running the show now.

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

Is any interview with a witness a “second hand” report in your view? Do you equate a special counsel’s report with a tabloid newspaper article?

And do you remember when Trump cried “fake news” when it was reported that he’d attempted to fire Mueller? Well, it turns out he’s a liar.

But do carry on….

Dave
Member

Here’s a tip for understanding things… try to think of multiple explanations for something before you claim something is self obvious. If Robert Mueller knocked on your door and said it’s a full on open investigation, I’m pretty sure you’d say you’re fucked. Maybe you can’t see that because you sort of live a simple life. I don’t. I have a complex life with a lot of shades of grey. So, his reaction makes total sense to me in my lived context. I’d shit myself and say the same thing. It’s not a reaction from guilt. It’s a reaction that there are so many things that can be taken out of context. Been there, done that.

Dave
Member

Here’s the analogy… imagine if I said I’m about to post your browser history for the last three months. There isn’t a single person who would say they aren’t fucked. But it doesn’t mean you actually did something wrong.

If you can only see the one explanation for something, you’re likely in confirmation bias. A good way to break free is to force yourself to see the alternatives. If you don’t catch yourself in confirmation bias everyday, you don’t know how to break free.

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

Says the guy who just picked just one of the things I listed to focus on…..

Best place on meth
Member
Best place on meth

tldr

Best place on meth
Member
Best place on meth

SIX MORE YEARS!

SIX MORE YEARS!

SIX MORE YEARS!

SIX MORE YEARS!

EAT SHIT AND DIE, TRUMP HATERS!!!

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

Six more years of you being wrong about real estate? I don’t doubt that for a moment.

Best place on meth
Member
Best place on meth

What a fucking whackjob you are.

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

I’m not at all surprised that you lack the basic intelligence and patience to read the report.

Best place on meth
Member
Best place on meth

What a fucking whack job you are.

paulb
Member

New
173
Price Change
77
Sold
63
TI:14657

http://www.clivestevepaul.com

paulb
Member

New
251
Price Change
124
Sold
103
TI:14607

http://www.clivestevepaul.com

Best place on meth
Member
Best place on meth

Day after Easter is usually a monster listings number so we could hit 15K as early as Tuesday.

Oracle
Guest
Oracle

Fingers crossed!

Screwed
Guest
Screwed

The good news is that price change is more than sold numbers.

bullwhip29
Guest
bullwhip29

The Toronto Real Estate Board says it has secured a permanent injunction to stop the now-defunct property listing site Mongohouse from sharing its real estate data
https://www.vancourier.com/treb-secures-permanent-injunction-against-mongohouse-using-its-data-1.23794061

Big Bear
Guest
Big Bear
bullwhip29
Guest
bullwhip29

operators like this should be shut down. renting out various properties in contravention to regulations, laws etc is one matter (much discussed) while whipping the rug out from under guests who have already reserved and paid for accommodations in advance after host gets a better offer is total and utter BS. imho, this is a simple sales contract which should be honored but in this effed up wild west hick town, anything goes I guess…

southseacompany
Member
southseacompany

“Restraining the housing market may be wise — but it remains divisive: Don Pittis”, CBC News

https://www.cbc.ca/news/business/housing-mortgage-canada-1.5099900

“It’s pretty clear that the explosive growth in the price of Canadian houses over the last decade was the inadvertent product of an emergency plan to rescue global capitalism in 2008.”

“It soon became obvious that low interest rates had created a Canadian home ownership monster, with prices in some places at one point rising somewhere near 30 per cent in a single year. Unless you already owned one, houses became unaffordable for many Canadians.”

Canada is for Canadians
Guest
Canada is for Canadians
aaaa
Guest
aaaa
$100 for your help! Wallet stolen. Need e transfers cashed. Hey everyone, tim here! I was on a skytrain headed home from work like everyone else was around 5pm last night and fell asleep. when i woke up i had found out that my wallet, my bell canada employee id card, all my id, my bank card and credit cards were stolen from my suit jacket pocket. What i am asking is if someone would be able to help cash some e transfers i’m expecting to have come my way, it would be great! i would be willing to give you $50 per transfer if you can help while i wait for my birth certificate and drivers license to come in from new brunswick. what i would need from you is to be able to meet either at a bank… Read more »
Specuskeptic
Member

Seems legit LOL…..

Bubble
Guest
Bubble

Negative Equity a Big problem:
https://youtu.be/yrHLhtk5C7w

Not in Vancouver, as all houses purchased with cash.

Joe Money
Guest
Joe Money

No smart businessman would buy with cash when they could leverage themselves with money that’s almost free.

Purchase a $1 million home with cash and if it rises 50% you make $500k.

Leverage that $1million buying five $1 million homes with 20% down, and if they rise the same 50% you make five times $500k = $2.5 million.

This is the effect of cheap money.

MAKE TRUDEAU A DRAMA TEACHER AGAIN!
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN!

Run your example in reverse:

If each of the 5 houses drops only 20% you are wiped out and your $ 1 millon is gone.

Leverage is fun on the way up.

Joe Money
Guest
Joe Money

Yep.

Laibach
Member
Laibach
Canada is for Canadians
Guest
Canada is for Canadians

This explains why everybody is at the breaking point. Between high housing prices and high gas prices and all the other increased expenses people are cracking. I see road rage incidents and other angry encounters every week now.

bullwhip29
Guest
bullwhip29

precisely why horgan is a goner now. case in point, the alta election further highlighted fact that public held no punches and tossed notley to the curb without even flinching

Selective Memory
Guest
Selective Memory

The public pulled no punches? Get real.

The NDP still hold 24 seats in Alberta. Do you remember how many they had before the 2015 election? Four!
While the PC’s held 70 and Wild Rose had 5. The NDP are still doing massively better in Alberta than anyone would have dreamed 5 years ago. Whereas Kenney, despite ‘uniting’ the right, can’t even match the number of seats won by the PC’s back when they had Wild Rose splitting their vote.

Kenney now provides a clean target for both Horgan and Trudeau. They won’t have any conflicted feelings about attacking him; quite a change from Notley.

Dave
Member
Keep in mind, the NDP were running on a pro-oil platform and got smoked even with that. Winning also gave them a ground game and candidates that have recognition. A return to the norm was never in the cards. Go flip through wikipedia and look at the historic election results. This was a pretty high result for the winner on a historic basis. There is no spinning this… the NDP got clobbered. Apparently the Newfies are having an election and their Liberal Party wants nothing to do with Trudeau. Stay away please is their message. I have never seen so much animosity against a Liberal leader in my life. You see it all the time against right of centre leaders, but it hilarious how many people opening hate on the guy in the real world. Can’t blame them…. he’s the… Read more »
Make Trudeau a Drama Teacher again!
Guest
Make Trudeau a Drama Teacher again!

A far cry from the South Surrey by-election a year or so ago when Gordon Hogg had Team Trudeau signs posing side by side.

I should remake those signs and put them up!

franko
Member
franko

I agree that Horgan may have missed his chance to get re-elected. The backlash against his anti pipeline stance will continue to grow and could well be his undoing as folks get fed up with higher gas prices and conspiracies by organized green wackos to sabotage our country. It’s just a matter of time until the demise of Turd and lefty Provincial Premiers spills over the Rockies to the west.

Dave
Member
Nailed it. He totally missed his chance. The economy is headed down while consumer prices are going up. Gas prices remind people of that every week or two when they fill up or every day when they drive to work. People will rightfully link the NDP’s stance on the pipeline with high gas prices. And they’ll rightfully link the Green movement with stifling projects. The new government in Alberta is going to hold a public inquiry on the Green movements interference on projects and it’s going to produce some crazy headlines. The BC Greens are going to get wiped out and pull the NDP down with them. The smartest move Horgan could do right now in my opinion is do a complete 180 on the project. He should drop all the legal challenges and do a deal with Alberta to… Read more »
Selective Memory
Guest
Selective Memory

Attacking environmentalists: one of the signature moves of the Harper regime. Small wonder to see Kenney pulling it out again. Didn’t work too well for Harper, though — it didn’t get any pipelines built, and it was one of the many authoritarian excesses that helped turn voter sentiment against him.

I seem to remember David Suzuki topped a poll of most admired Canadians not too long ago. Wonder where Kenney would come in that list? Albertans may have voted him in, but even they don’t like him.

Dave
Member

A CBC poll? The average person hates environmentalists and they’re going to hate them more and more everyday. Every time people drive by a gas station and fill up their car, they know who to blame. And wait for some of the dirt to come out after the inquiry. They’re going to be hated on even more.

If Albertans hate Kenney, they must really love his policies.

Can’t have it both ways, unless you’re being selective.

franko
Member
franko

The outrage against our lefty PM and our only remaining Premier should really hit home over the next couple of weeks when people get shocked by the amount of income tax they have to pay…Just got my own SHOCK after my previous post.

Dave
Member

I hope Alberta or Quebec decide to separate so that BC can leave too. It’s ridiculous that Alberta sends billions by the truckload to Quebec while they oppose projects.

And look at our situation here in BC. The Feds have done nothing to stop money laundering and a housing bubble. If anything, they helped create the problem.

I’d vote to leave if given the chance. Between, Horgan, Kenney, Trudeau and whatever goof is running Quebec, I think there is a chance. They’ve created a lot of animosity and division.

Best place on meth
Member
Best place on meth

I would gladly vote yes in a referendum to expel Alberta and Quebec from Canada.

Laibach
Member
Laibach

No surprise here, all Chinese cities are at the top…

The most-expensive housing markets in the world

https://dailyhive.com/vancouver/vancouver-4-most-expensive-housing-market-cbre-2019

Oracle
Guest
Oracle

Average rent ‘$1042 usd’ in Vancouver.

LOL. You trust this report?

southseacompany
Member
southseacompany

“What Will Cause The Next Recession – Robert Shiller “, CNBC video

https://www.youtube.com/watch?v=rUYk2DA8PH8

“Nobel Prize winning economist Robert Shiller says that the long expansion in the economy, housing and stock markets, combined with continued low interest rates, could mean the U.S. is due for a recession.”

“However, the Yale University economist says, “There could be a change in sentiment toward housing which could bring prices down.”

“Shiller also addresses housing affordability as a global issue. “

Screwed
Guest
Screwed

There are gun shots in Kitsilano area. One person is dead.

bullwhip29
Guest
bullwhip29

and white BMW X5 covered in plastic tarp…

Ultra Bear
Guest
Ultra Bear

RE: Alberta election

We’ll have 2$/l gas for sure this summer so it’ll trigger a recession and people living in the valley will firesale their homes.

bullwhip29
Guest
bullwhip29

yup, the rats just ratcheted up the price 0.20 overnight. i also love how they front-ran the election by juicing prices up in the last week too. initially thought this was an overshoot, but now not so sure we see <1.50 anytime in the foreseeable future

bullwhip29
Guest
bullwhip29

actually in some cases a 0.30 jump overnight

Make Trudeau a Drama Teacher again!
Guest
Make Trudeau a Drama Teacher again!

I hope Alberta turns off the taps!

I would pay $3 a liter to watch our Keg waiter lightweight twist in the wind after they way he went after the Transmountain.

Dave
Member

Yes, I support this too. Short term pain for long term gain. Horgan is a bad person for abusing our judicial system for political ends.

Best place on meth
Member
Best place on meth

So the valley will still be on fire?

Ultra Bear
Guest
Ultra Bear

Yes but in the bearish way…

Doomcouver
Member
Doomcouver

Yeah, going down in flames.

Laibach
Member
Laibach
Hopefully, this becomes a norm and rats take off en masse. “Lisa Sun paces around the Vancouver mansion she’s been hired to sell by its wealthy Chinese-Canadian owner. The family’s had it with the new taxes and what it sees as increasing hostility to Asian capital. Sun reckons that early last year the home would have easily sold for about C$8.5 million—holes in the wall and all. “I’ve been through only the peak, never the low,” said Sun as she schedules a makeover of the property. Pink tags indicate to the four cleaners what needs to be dumped. The Lamborghini and Rolls-Royce in the garage, relatively unused for three years, also need to be dealt with. The house is listed at C$10.9 million, but after receiving mostly low-ball offers closer to its tax-assessed value of C$6.2 million, she’s planning on… Read more »
Make Trudeau a Drama Teacher again!
Guest
Make Trudeau a Drama Teacher again!

After Dave reads this the DBI will be at 2 at least until he sees another busy open house at which time it goes to 9.

Dave our resident bi-polar serious real estate investor

Best place on meth
Member
Best place on meth

Now we know what kind of desserts you like.

Laibach
Member
Laibach
Best place on meth
Member
Best place on meth

“Sun doesn’t think Vancouver’s market is going to come back to its highs, especially at the top end. “Why would they come here and pay all that tax and feel like a criminal?”

Interesting choice of words by this whiny realtor…..criminal.

Did they tell her about their business model back in the motherland?

paulb
Member

New
253
Price Change
97
Sold
115
TI:14514

http://www.clivestevepaul.com

Dave
Member

Uh oh…. another triple.

Make Trudeau a Drama Teacher again!
Guest
Make Trudeau a Drama Teacher again!

Ha ha the Dave Bull Index (DBI) is at an 8.

Screwed
Guest
Screwed

Tuesdays numbers are counting for two days

southseacompany
Member
southseacompany

“Home sales still down from recent peaks in Langley”, Aldergrove Star

https://www.aldergrovestar.com/news/home-sales-still-down-from-recent-peaks-in-langley/

“In Langley, sales of detached houses were down 27.8 per cent, townhouse sales were down 38.1 per cent, but condo sales held steady, up 1.2 per cent on March of 2018.”

southseacompany
Member
southseacompany

“Greater Vancouver Condo Prices Drop The Most Since 2009”, Better Dwelling

https://betterdwelling.com/city/vancouver/vancouver-condos-see-fewest-sales-since-2009-inventory-pops-131-higher/

“The annual declines appear to be getting larger for condo apartments. REBGV’s annual pace of growth decelerated for 18 consecutive months. Only 3 of those months were negative, but prices still made a big drop. This was the largest decline since 2009, and prices are back to December 2017 levels.”

“Active listings of condo apartments reached a multi-year high. REGBV reported 5,076 active listings in March, up 13.68% from the month before.”

southseacompany
Member
southseacompany

Benjamin Tal whining:

“B-20 mortgage stress test needs to be revisited, says CIBC’s Tal”, BNN Bloomberg

https://www.bnnbloomberg.ca/b-20-mortgage-stress-test-needs-to-be-revisited-says-cibc-s-tal-1.1245189

“A prominent economist is urging regulators to revisit mortgage stress tests in Canada, arguing that the new rules implemented early last year are too rigid.”

Bag it and tag it
Member
Bag it and tag it

How dare the implement measures that are actually effective.

bullwhip29
Guest
bullwhip29
Bubble
Guest
Bubble

Interference: China’s covert political influence campaign in Australia
https://youtu.be/7T_Lu1S0sII

Conservatives should make this an election issue, if they have any chance beating the Liberal.

patriotz
Member

“Conservatives should make this an election issue, if they have any chance beating the Liberal.”

Chinese Canadians are a key voter demographic for the Conservatives. What ethnic seats in metro Vancouver and Toronto did they hold on to in 2015? The Conservatives will play for the anti-immigrant vote all right, by bashing Muslims and blacks, whom the Chinese don’t like themselves.

Harper makes direct pitch to Chinese Canadian voters

Joe Money
Guest
Joe Money

The Libs like bashing folks for their religion, too.

https://nationalpost.com/opinion/the-liberals-dont-get-why-religious-canadians-refuse-to-submit-to-their-political-dictates

It seems that the Liberals have no issue with making Christians comply to some standard, but if someone forces Muslims to comply to some standard they are all over them. That is duplicitous.

patriotz
Member

“It seems that the Liberals have no issue with making Christians comply to some standard, but if someone forces Muslims to comply to some standard they are all over them”

You mean Christians have a problem with being asked to support equal rights for women and gay people, but Muslims don’t? Thanks for clearing that up.

YVR
Guest
YVR

Actual the right and Christians support equal rights for everyone, not special rights for certain groups and identity politics.

patriotz
Member

“Actual the right and Christians support equal rights for everyone”

You are entitled to your own view of who “the right” is, but nobody appointed you to decide who is a Christian, and there are plenty of people who call themselves Christians who do not support equal rights for everyone.

https://www.youtube.com/watch?v=TAcb_7fUwLM

YVR
Guest
YVR

Give it up Patriditz. The left wing in Canada is on its last legs. Trudeau will be flushed down the toilet at the end of the year.

Asdfasdf
Guest
Asdfasdf

Chinese don’t vote. Courting the Chinese vote is a stupid strategy. Courting Chinese money in exchange for influence is unfortunately the smart move.

Canada is for Canadians
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Canada is for Canadians

Mortgage stress test accounts for up to $15B drop in new mortgages in 2018: CIBC
Aleksandra Sagan, The Canadian Press, at 12:04 on April 16, 2019

Ottawa’s new mortgage stress tests accounted for at least half of the decline in new mortgages started last year, according to a new report by CIBC that calls for the measure to be revisited amid a falling housing market.

The total value of new mortgages fell by eight per cent or $25 billion in 2018, wrote Benjamin Tal, deputy chief economist at CIBC World Markets Inc. in a report released Tuesday.

He estimates the impact of the new stress test made up $13 billion to $15 billion, or 50 to 60 per cent, of that drop. The other 40 to 50 per cent of the drop comes from increasingly unaffordable home prices and rising interest rates, he said.

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

Nah, it was all foreigners amiright?

YVR
Guest
YVR

Foreigners can’t pass the stress test as well. Especially when they declare no income.

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

Somebody declaring no income would not qualify for any mortgage, B20 or not. Duh.

YVR
Guest
YVR

False. With all the big banks you used to only need 35% down payment and no income verification was required. Private lenders are still doing that.

YVR
Guest
YVR

Canadian banks’ mortgage guidelines favour foreign home buyers

Canadian banks allow foreign clients with no credit history, including students, to qualify for uninsured mortgages without proving the sources of their income – a practice that exempts non-Canadians who have money in the bank from the scrutiny domestic borrowers face when buying a home or an investment property…At BMO, such clients need only 35 per cent down to qualify for mortgages up to $2-million. The criteria from both banks show income verification is also not required for new immigrants who have been in Canada less than five years if they put 35 per cent down.

https://www.theglobeandmail.com/real-estate/vancouver/canadian-banks-mortgage-guidelines-favour-foreign-home-buyers/article31869946/

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

Your position is that sales have fallen off a cliff because although foreign buyers were somehow not showing up in the stats they’re now failing the stress test?

YVR
Guest
YVR

LOL, SIDA owned again.

bullwhip29
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bullwhip29
bullwhip29
Guest
bullwhip29

BLOOMBERG: College Kids Are Living Like Kings in Vancouver’s Empty Mansions
Globe-trotting landlords can avoid vacancy taxes by renting. It’s the latest twist for a housing market down 8.5% from its peak
https://www.bloomberg.com/news/features/2019-04-16/college-kids-are-living-like-kings-in-vancouver-s-empty-mansions