Friday free-for-all! June 14th 2019

What if the hammer of higher interest rates never falls? If prices keep rising so young families cant afford to buy?

What’s going to happen to the Vancouver economy moving forward?

Just a few questions on our mind as we kick off another Friday free-for-all open topic discussion thread for the weekend.

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

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Bag it and tag it
Member
Bag it and tag it

Story in the CBC yesterday about a new immigration pilot project.

https://www.cbc.ca/news/politics/rural-north-immigration-pilot-1.5175418?__vfz=medium%3Dtray_notification#vf-10936800019002

2400 comments and almost all of them are against the program and I would say also in favour of less immigration in general.

This pilot project is deeply flawed. Get this…they want to grant immigrants Permanent Resident status if they move to one of these 11 specified regions. From the Quebec IIP, we all know exactly what that means when it comes to the legal obligation of these newly coined PRs to stay in those regions. It seems like they know exactly what they are doing and it’s a pre-planned corrupt scheme to sell these PRs for cash under the table while telling the immigrants they have no obligation to stay there.

Oracle
Guest
Oracle

After the PR, they will move to the cities.

Canada has no other economy left. It’s all immigration, and housing. And money laundering.

With enough of us Asians and S Asians here in the cities and along with Quebec, I think we can hold the balance of power going forward.

What a country!

patriotz
Member

Courtesy James Sopor at HHV:

#1807 1003 PACIFIC STREET, Vancouver
Bought 2017 $527,000 Just sold for $450,000

Note the year of purchase. Also note this is not a luxury property.

YVR
Guest
YVR

It is a 20 year old 422 foot condo selling for $1066 per foot.

patriotz
Member

As opposed to being 18 years old and selling for $1249 per square foot. That’s the point – the price is down since you know when. And you know when because you’ve been claiming the opposite. Do I think it should sell for less – absolutely, and I think it (or its equivalents) will in due course.

YVR
Guest
YVR

They paid too much in 2017. If you think $1066 per foot for this building is some measure of success of the NDP then you have very low standards. Like you have said many times if the government wanted housing prices to go down they could do it very easily. Clearly the NDP are not all that interested in lowering RE prices. They are interested in collecting taxes in guise of doing something.

TrollerOfTrolls
Guest
TrollerOfTrolls

So the price for a Yaletown condo close to the water is down from $1249/sqft in 2017 to $1077/sqft in 2019 but in the next line you say the NDP are not interested in lowering prices… #realEstateShill #bringBackTheLiberalsToLaunderMoreMoney #ChristyLover

YVR
Guest
YVR

In 2011 this building was selling for $500 a foot. Who was in power then?

https://www.century21.ca/Property/BC/V6E_4P2/Vancouver/1003_Pacific_Street_503

YVR
Guest
YVR

In 2014 selling for $500 a foot. You could get a 2 bedroom 2 bathroom for the same price this studio just sold for under the NDP.

https://www.mikestewart.ca/listing/1101-1003-pacific-street-seastar-west-end-condo-vancouver-west/

YVR
Guest
YVR

In 2018 selling for $894 a foot. So prices are up according to the in the last year under the NDP.

http://selectonmain.com/officelistings.html/listing.r2306531-1708-1003-pacific-street-vancouver-v6e-4p2.79521663

Oracle
Guest
Oracle

Don’t tell the minions about Math. Lol

Hopefully this site is up in 20 months or so and we can tell the minions ‘told ya so’

Unfortunately I have failed to convince the people here that we need much more policy by the NDP. Utter morons. They don’t even know what’s best for them besides squawking for EBY who has done nothing but talk.

Bag it and tag it
Member
Bag it and tag it

Nice time to pick a price considering prices exploded late 2014 and the Libs did nothing other than repeatedly deny foreign money was a factor.

YVR
Guest
YVR

And prices are still sky high and the NDP still have done nothing to bring prices down after 2 full years in power. Prices for this condo building are double that of 2014. If I recall everyone thought 2014 prices were too high. They are now double that under the NDP!

Bag it and tag it
Member
Bag it and tag it

That was before Crooked Clarke.

Oracle
Guest
Oracle

They are more interested in collecting dummies for their votes.

Wait until Liberals get back in. The homeowners will come out in droves to vote next election.

The chance for the NDP to lower prices is gone. Usually first 2 years of a term. Now, the NDP has to goose the market again.

Oh and in the 4 years they will be in power, thats another 400,000 people here. Cheer minions!

Oracle
Guest
Oracle

PS.

The new Freshco stores will be called “Challo Freshco” in Surrey.

Bring it! So the century of the Fraser Valley as a south asian global hub begins!!

So excited.

patriotz
Member

I gave an actual repeat sale from 2017/2019. If anyone can show another repeat sale (not just a listing) from 2017/2019 instead of dancing around the issue that would be welcome.

YVR
Guest
YVR

If the sale you posted for 2017 was correct then it was a one off where someone overpaid. That building was never selling for $1250 per foot as I just proved with 3 sales. If you want to spin a unit in this building selling for $1047 a foot as an NDP success when it was selling for under $500 a foot a few years ago then be my guest. Only a fool could make such an argument.

patriotz
Member

I’m simply pointing out the fact that the repeat sale 2017/2019 shows a price decline. I repeat, I welcome any other repeat sale data from the same time frame. You have yet to provide any.

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

I have such a 2017/19 pair showing a price increase, and a few 2016/18 pairs too. But what’s the point? This is why we use stats not cherrypicked sales.

YVR
Guest
YVR

Fine and I am simply pointing out these condos were selling for 50% less in 2014 and 20% less in September 2018. Not a good trend if lowing housing prices is you mandate.

Best place on meth
Member
Best place on meth

Prices are currently falling, there is no need to yap about what was going on in 2014.

The NDP had nothing to do with that, your beloved Libcreds were running the show then.

Fucking crooks, all of them.

YVR
Guest
YVR

2014 was 5 years ago. Prices doubled for condos over that time. In that period the Liberals were in power 3 years and the NDP 2 years and the NDP are running the show now. At some point this becomes the NDPs responsibility, no?

southseacompany
Member
southseacompany

15% drop in two years. Good news.

YVR
Guest
YVR
patriotz
Member

That property is 2 br, 823 square feet, and has had only one sale in the past 3 years – Sep 21, 2018 $736,200 – according to BC Assessment.

Could you try just a bit harder?

YVR
Guest
YVR

My mistake that was almost a 20% increase in 6 months. It sold for 894 a foot in Sep 2018 compared to your example which sold for 1066 a foot recently. Same building.

Canada is for Canadians
Guest
Canada is for Canadians

Female realtors again targeted by suspicious man attempting to meet them alone

https://www.citynews1130.com/2019/06/14/female-realtors-again-targeted-by-suspicious-man-attempting-to-meet-them-alone/

“more reports of a suspicious man trying to arrange meetings with them alone.”

a new way to meet chicks …

Specuskeptic
Member

“Sales in 2019 have consistently reached multi-decade lows. May 2019 did have an increase in sales and sales to active listing ratio. The data suggests at least three reasons for this:

Seasonally, May has larger sales than other months (see also our previous post on seasonality).
Prices have dropped.
Diligence period has increased

Next week spring is officially over, and summer begins. Historically there is a significant decrease in activity in Real Estate until the Fall. We’ll see what June, the last month of the spring season, ends up being. As of June 14, half way the month, the extrapolated sales to active listing ratio has again dropped to ~14% so far”

Lots of good analysis here… https://canreinvest.com/2019/06/14/balance-a-look-at-the-may-rebgv-numbers/

bullwhip29
Guest
bullwhip29
Bag it and tag it
Member
Bag it and tag it

Even at a comfortable estimate of $500 per sf, that would be a 10,000 sf facility which is rather large. They should be able to do it for $2 mil easy assuming much smaller that 10K sf. Maybe they’re building it big enough to host weddings and events.
But the most logical explanation is corruption involving kickbacks.

YVR
Guest
YVR
The race baiters get sweet justice. Squealing racism can be costly. Hopefully the retarded parrot takes notice. ——————————————————————– Oberlin College just learned a $44 MILLION lesson Gibson’s Bakery, the Oberlin, Ohio family-owned business at the center of a years-long controversy, will receive a total of $44 million in damages from Oberlin College. As Campus Reform previously reported, the college had already been ordered to pay $11 million in compensatory damages to the bakery and the family that owns over allegedly libelous behavior. “[Gibson’s] is a RACIST establishment with a LONG ACCOUNT of RACIAL PROFILING and DISCRIMINATION,” one flyer that was allegedly passed out by multiple college faculty members read. The college’s criticism came in response to a 2016 shoplifting incident, involving three minority individuals, one of whom eventually pleaded guilty. A police investigation found that of the 40 individuals arrested… Read more »
Bag it and tag it
Member
Bag it and tag it

Hopefully this sends a strong message out there to such institutions that always take the side of whoever isn’t white, since that’s typically the path of least resistance since whites rarely push back. There is definitely growing racism against whites…growing because its generally unchecked. It’s very easy for people to think that whites deserve it considering the past…but that’s the type of thinking that has caused a lot of atrocities in the past…a belief that hate against certain groups was justified.

southseacompany
Member
southseacompany

“Regulators Conclude The Mortgage Stress Test Is Here to Stay”, Vancity Condo Guide

https://stevesaretsky.com/mortgage-stress-test-here-to-stay/

“In a world turned upside down by near zero interest rates, and abundance of cheap credit chasing a finite number of homes, regulators seem to concur a mortgage stress test is the way to go. OSFI concluded, “The revisions to B-20 are working; strengthening mortgage underwriting across Canada and improving the resilience of the Canadian financial system to future shocks.””

patriotz
Member

Courtesy of Leo S at HHV. Oh, the suffering in Shaughnessy!

https://www.shpoa.ca/pdf/newsletters/SHPOA_spring_2019.pdf

Canada is for Canadians
Guest
Canada is for Canadians

Wow, I read that whole thing and I can’t believe what I saw. If I didn’t know the backstory I’d say that was a some kind of joke or parody but they really see things that way which is astounding. They just do not live in the real world but rather they live in a bubble of their own making.

Oracle
Guest
Oracle

This nothing compared to what you’ll see in 10 years.

Best place on meth
Member
Best place on meth

Why is the letter written in both English and some horrific china man script?

Ugghh! My eyes!!!

Canada is for Canadians
Guest
Canada is for Canadians

It is written that way so that the “housewives” can understand it …

Werner Stein
Guest
Werner Stein

No thinking moral agent can support a vile Communist regime, and resistance against it would be a noble cause, that is of course if the resistance isn’t supported by Corporate Fascism.

bullwhip29
Guest
bullwhip29

RCMP caught Jie Cui speeding in the southern Interior city of Merritt in April 2019. But according to B.C.’s director of civil forfeiture, she fled when they told Cui they wanted to impound her Land Rover
https://www.cbc.ca/news/canada/british-columbia/speeding-distracted-driver-forfeiture-1.5176068

Oracle
Guest
Oracle

She’ll get away with playing the naive Asian immigrant little lady card. Always works on whites. Lol

xhistory
Guest
xhistory

“Out of the corruption of women proceeds the confusion of races; out of the confusion of races, the loss of memory; out of the loss of memory, the loss of understanding; and out of this, all evil.”
-Bhagavad Gita, I, verse 41 et seq.

Canada is for Canadians
Guest
Canada is for Canadians

Throw her in jail and then Deport her and her family.

Bag it and tag it
Member
Bag it and tag it

Hopefully they’ve already pulled her licence. Also, why did it take a month for them to apprehend her? And why did they let her drive away? She should be in jail and the least of her worries should be an impounded vehicle that she doesn’t even own (leases)

Laibach
Member
Laibach

What kind of a sick freak does this?

A woman was arrested in Florida for allegedly stomping on sea turtle nests.

https://www-m.cnn.com/2019/06/16/us/miami-beach-sea-turtles-arrest/index.html

Best place on meth
Member
Best place on meth

What a shame.

The life of a sea turtle is worth far more than the life of a china man (or female china man in this case).

Bag it and tag it
Member
Bag it and tag it

My sources tell me their defence is going to be that her English isn’t very good, so she didn’t understand the signs. Also, in China is a cultural things to not respect nature and the environment.
In reality, the signage in scenarios like this should only be written in Chinese. English signs not necessary.

Bubble
Guest
Bubble

It seems metro Vancouver housing (condo and detached) peaked around Jan, 2018.
https://openhousing.ca

xhistory
Guest
xhistory

Last 11 featured articles

Westbank pre-sold a big chunk of Vancouver House condos to offshore flippers
Abandoned Vancouver house gutted in fire linked to immigration consultant allegedly defrauding foreign workers
Realtor suggests evading taxes using bare trust loophole
All Vancouver flippers flopped in May
Chinese-only: Richmond Airbnb host only wants guests who speak her language
Metro Vancouver condo prices fall 9% from peak
Metro Vancouver realtor leaderboard: Luxury realtors no longer at the top
Realtors reeling as Vancouver real estate frenzy ends
City of Vancouver licences Chinese company to run multiple Airbnb flophouses
Metro Vancouver detached home prices plunge 26% from peak
Buyer beware: The curious case of the shrinking condo

Oracle
Guest
Oracle

Not south of the Fraser.

Bag it and tag it
Member
Bag it and tag it

Dude, South of the Fraser is down 8% YoY…get over your delusion.

Oracle
Guest
Oracle

Delusion? Lol

So I’m supposed to be jumping up and down for an annual 8% decline after prices have gone up 100% in 4 years?

Bag it and tag it
Member
Bag it and tag it

You claim prices are still going up there…that’s my point.

Best place on meth
Member
Best place on meth

Oracles goalposts are on wheels.

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

They could be down year on year but currently trending upwards. They’re not mutually exclusive.

Screwed
Guest
Screwed

https://globalnews.ca/news/5393428/first-time-home-buyer-incentive-details/
Global has learned that if the house price goes up, the government will get a percentage of the price increase. And if the house price decreases, Ottawa will shoulder a percentage of the loss.

For example, a new house that is purchased for $100,000 could qualify for a 10 per cent interest-free loan worth $10,000. If the home was later sold for $110,000, the home buyer would need to repay $11,000.

Best place on meth
Member
Best place on meth

Government should not be providing incentives for real estate purchases .

Flush the Turd!

Selective Memory
Guest
Selective Memory

If you’re a speculator, convinced that prices only ever go up, this program will not be so appealing. Why give the government a slice of your hard-earned equity?

So that’s a good feature, at least.

xhistory
Guest
xhistory
Best place on meth
Member
Best place on meth

Chinese dissidents are being executed for their organs, former hospital worker says

https://nypost.com/2019/06/01/chinese-dissidents-are-being-executed-for-their-organs-former-hospital-worker-says/

The prisoner was brought in, tied hand and foot, but very much alive. The army doctor in charge sliced him open from chest to belly button and exposed his two kidneys. “Cut the veins and arteries,” he told his shocked intern. George did as he was told. Blood spurted everywhere.

The kidneys were placed in an organ-transplant container.

Then the doctor ordered George to remove the man’s eyeballs. Hearing that, the dying prisoner gave him a look of sheer terror, and George froze. “I can’t do it,” he told the doctor, who then quickly scooped out the man’s eyeballs himself.

Oracle
Guest
Oracle

It’s coming here. The rich here will fly there when they need an organ.

Your politicians have fucked Canada for good.

Best place on meth
Member
Best place on meth
Doomcouver
Member
Doomcouver

Leaving Hong Kong capitalistic and “democratic” was a big mistake for the Chinese government and its biting them in the ass. The Soviet Union tried the same thing and we all know how that ended.

Bag it and tag it
Member
Bag it and tag it

Wow, that’s incredible. When the protesters are such a large % of the population base and are that organized and passionate, they will always get their way. Governments present and future will not try to fuck over their people any more. Beijing will also want to avoid that hornets nest going forward since uprisings are contagious.

Oracle
Guest
Oracle

THE protests in Hong Kong are incredible tonite.

2 million of the 7 million residents protesting on the streets.

I’m absolutely convinced 500,000 people from HK will mass migrate to Vancouver sooner or later.

If that happens, detached going to $5 million even on the suburbs. .

Bag it and tag it
Member
Bag it and tag it

The fact that their protest is so successful sends a clear message to both the gov of HK and China that they are not to be fucked with now or ever, so zero chance now that there will be a mass exodus out of HK any time.

Oracle
Guest
Oracle

So naive.

Just wait.

China will crush any revolt.

Best place on meth
Member
Best place on meth

At some point a massive revolt is going to crush china.

This may be the year.

Crash
Guest
Crash

You are such an idiot.

bullwhip29
Guest
bullwhip29

maybe bowling clubhouses are a leading indicator?

Canada is for Canadians
Guest
Canada is for Canadians

18,000 immigration applications cancelled: Quebec government passes bill 9

https://globalnews.ca/news/5396431/quebec-government-passes-bill-immigration-bill-9/

We will see more of this at the federal level as well because the population is getting fed up with the excessive immigration intake by Canada.

SilentBob
Guest
SilentBob

Quebec gets special treatment for “reasons.” No other province has the same federally enshrined rights to limit immigration so expect the rest of us to get to make up for the “shortfall.”

Oracle
Guest
Oracle

Canada will announce that it’ll take the 18,000 applications.

patriotz
Member

” No other province has the same federally enshrined rights to limit immigration ”

To be precise, Quebec is able to select its own economic immigrants. All those cancelled applications were for that category. The Federal government continues to select family class and refugees.

In addition, any would be economic immigrant who wants to settle in Quebec, but doesn’t like their selection process, can apply federally and just move there when they arrive in Canada, provided they meed the federal guidelines. That’s pretty much a hypothetical scenario though.

And for the record, Andrew Scheer has said that he is open to giving more immigration powers to Quebec. To be fair, he hasn’t promised anything specific, just as he hasn’t promised anything specific for immigration in general.

https://www.cbc.ca/news/canada/montreal/scheer-quebec-immigration-pipeline-1.4986649

SilentBob
Guest
SilentBob

So we should all vote liberal?

patriotz
Member

Vote any way you want. Just don’t think that anything is going to change with regards to Quebec’s immigration powers. No party is proposing to cut them back.

SilentBob
Guest
SilentBob

Which party is most likely to cut funding at the department in which you work?

Bag it and tag it
Member
Bag it and tag it

Speaking of Quebec…that is where the Chinese pre-sale contract money laundering business is currently flourishing…well, in Montreal at least. Buildings selling out in the first day with big lineups. They’re contemplating implementing the FBT also.

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

Montreal has about 1% of sales to foreign buyers, does it not?

Oracle
Guest
Oracle

No you won’t. Sheer has stated he won’t lower immigration.

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

Quebec can f#ck off…time that politicians quit wiping its bum and kissing its ass(not necessarily in that order)

2 founding nations was a disaster by design..proof that 2 cultures cannot co-exist if one wants to build a nation.
Time to make these spoiled pricks suffer the same as rest of us..send ALL the foreign locusts there for next 10 years.

Laibach
Member
Laibach

MMS chapter in the middle of Canada?

Silence on Tiananmen anniversary could be sign of China’s influence on Canadian community groups

https://nationalpost.com/news/canada/silence-on-tiananmen-anniversary-could-be-sign-of-chinas-influence-on-canadian-community-groups-critics

Hyper-mega-Bull
Member
Hyper-mega-Bull

after talking about sinophilia and canada being drawn into the sinosphere for years on this very website i’m glad that these issues are finally getting national attention.

Best place on meth
Member
Best place on meth

These chinese “associations” are all lapdogs of the communist regime, I am quite sure CSIS has them under 24/7 surveillance as they should.

At some point it may be necessary to shut them all down on national security grounds.

This group always gives me a chuckle though:

“Tong and Choo crossed paths again that same month at a lunar new year event sponsored by the Canadian Alliance of Chinese Associations, an umbrella organization of dozens of community groups and whose website lists among its activities meetings with the Chinese government’s Overseas Chinese Affairs Office.”

Yes, they are CACA. That never gets old.

Canada is for Canadians
Guest
Canada is for Canadians

Love the home you’re with: Property Brothers help clients with ‘forever homes’

https://www.citynews1130.com/2019/06/17/love-the-home-youre-with-property-brothers-help-clients-with-forever-homes/

Unbelievable. Real estate has become such a cult over the last decade.

bullwhip29
Guest
bullwhip29

Rainbow might come to Richmond city centre
https://www.richmond-news.com/news/rainbow-might-come-to-richmond-city-centre-1.23858342

>>> this should be an interesting litmus test for the great citizens (and non-citizens) of this island nation. i wonder if the overwhelming opposition to this will stem from the outrageous expense involved? or maybe the safety hazard that may arise due to possible toxicity of the paint, the potential glare, the possibility someone may slip and fall or worse yet, driver mis-calculation and/or distraction resulting in more roadkill?

Canada is for Canadians
Guest
Canada is for Canadians

It’s all part of Agenda 21

Laibach
Member
Laibach

… or it might impact neighboring house prices due to a cultural “ambiguity”?

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

This one will be interesting…
Richmond is perceived as relatively conservative…but pro SOGI school board got elected…many Asians ran but didn’t succeed.

Rainbow sidewalk?…is simply another publically -funded piss- stain desired by commie libtards.

dude
Guest
dude

Sorry if someone already posted this.

$56K interest free loan for 25yrs… Get in line!

https://www.cbc.ca/news/business/cmhc-first-time-buyer-program-1.5178055

Oracle
Guest
Oracle

This will push up the periphery and Tier 2 cities.

You basically save that and interest. $100,000+

This support at the bottom may mean a FOMO at the bottom.

We are a housing and immigration economy.

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

Oh? It’s available to rich foreigners?

Laibach
Member
Laibach

Not necessarily but to usual fraudsters and cheaters certainly it is. Why not to take advantage of it if it is available for free?

Canada is for Canadians
Guest
Canada is for Canadians

yet another stupid idea from Turd and his merry gang of misfits …

paulb
Member

New
302
Price Change
172
Sold
156
TI:15786

http://www.clivestevepaul.com

bullwhip29
Guest
bullwhip29

Maxim Poon Wong, also known as Nelson Wong, was not criminally charged following an investigation into drug trafficking that overlapped with a money laundering investigation of alleged underground bank Silver International in Richmond but now faces civil forfeiture of cash, property and vehicles in B.C. Supreme Court
https://vancouversun.com/business/local-business/b-c-supreme-court-orders-cash-and-corvette-forfeited-as-proceeds-of-crime

bullwhip29
Guest
bullwhip29

Two dogs rescued from a butcher in China have arrived in Vancouver for adoption
https://vancouversun.com/news/local-news/two-dogs-rescued-from-a-butcher-in-china-have-arrived-in-vancouver-for-adoption

Laibach
Member
Laibach

Richmond?