Friday Free-for-all! June 28th 2019

It’s the end of another wonderful week in paradise and that means it’s time for another Friday free-for-all, our end of the week news round up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

Pre-sales buyers back out as market slows
Anti money laundering job
Fed loan rate over 10%?
Borrowing binge continues
Selling below 2015 prices?

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!

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xhistory
Guest
xhistory
xhistory
Guest
xhistory

A single image epitomizes the hurricane at the center of the current geopolitical chessboard: an extremely affectionate handshake between Xi Jinping and Vladimir Putin. The image crystallizes the stuff of nightmares by those in the US that still follow the Eurasian prophecies of Halford Mackinder and his disciples, such as the late Zbigniew “Grand Chessboard” Brzezinski, that focused on the imperative of preventing the emergence of a peer competitor in Eurasia.

The peer competitor has emerged, in full: the Russia-China strategic partnership.

The image crystallizes the stuff of nightmares by those in the US that still follow the Eurasian prophecies of Halford Mackinder (Geographic Pivot of History) and his disciples, such as the late Zbigniew “Grand Chessboard” Brzezinski, that focused on the imperative of preventing the emergence of a peer competitor in Eurasia.

https://www.asiatimes.com/2019/06/article/putin-and-xi-step-up-the-strategic-game/

Hyper-mega-Bull
Member
Hyper-mega-Bull

and exactly what goal could they accomplish by working more closely together? assuming they don’t stab each other in the back before they accomplish it of course.

xhistory
Guest
xhistory

It’s the use of the word pivot, that inspired me to research the story.

The analogy is how BC consumers feel about moving from gas to electric cars. They use the same verb: pivot

The societal mechanics of a pivot suggests it is done quickly. We are in that space now.

Dave
Member

Exactly. Russia and China have a lot of natural conflicts because they share the same hemisphere. This is all for show. In reality, they trust each other less than either trust us.

Best place on meth
Member
Best place on meth

Well, if the idiot democrats didn’t constantly treat Russia like they were the biggest threat to the human race then Russia wouldn’t be cozying up to scumbag chinese in the first place.

We should be working to improve relations with Russia, not risking a nuclear war through sheer stupidity.

patriotz
Member

Putin isn’t interested in improving relations with the West because he hates our values (as he keeps reminding us) and admires China, which has preserved the Communist system that Putin loved and defended.

https://foreignpolicy.com/2019/06/06/xi-and-putin-best-friends-forever/

Best place on meth
Member
Best place on meth

Nothing in that article corroborates what you said or contradicts what I said.

Russia has been pushed closer to china thanks to a bunch of angry democrats who still can’t get over the 2016 election result.

“We wuz robbed by the Rushens!”

ted
Guest
ted

what exactly are those values? We are a nation with no common values. Trudeau said so and is right.

xhistory
Guest
xhistory

We our value is to be a Resource or Man on the Margin. As such, elements in the galactic universe impress on Our subconscious. Marginal utility takes many forms, and is well researched and understood, in Canada and beyond. It could be said to Morph, which is Our challenge and enterprise, if we are successful seeing beyond the debris field

bullwhip29
Guest
bullwhip29

A Chinese-Canadian buffet chain in Ontario celebrating its 40th anniversary plans to give out free meals to Canadian citizens on the nation’s birthday, but some view the offer as potentially discriminatory against those who can’t produce proof of citizenship
https://www.vancourier.com/mandarin-s-canada-day-free-buffet-for-citizens-called-discriminatory-by-some-1.23870397

Hyper-mega-Bull
Member
Hyper-mega-Bull

for me this captures so much of what’s wrong in canada. a company wants to do something nice for fellow citizens. and citizens complain that non-citizens are not included. pathetic.

Doomcouver
Member
Doomcouver

I don’t think it’s unfairly discriminatory, but it seems like a very strange promotion…

Hyper-mega-Bull
Member
Hyper-mega-Bull

canada day is the national holiday of canada.

Best place on meth
Member
Best place on meth

It would be discriminatory if the chinese restaurant said free meal only for chinese.

This is nothing, just more whining from the left.

Doomcouver
Member
Doomcouver

Free meal with a Chinese passport.

Shit It Down Already (original)
Guest
Shit It Down Already (original)

I’m in…

Can’t wait to see SIDA in kitchen having to serve round eyes…..

NOTE: Cue SIDA lame retort(“_________Fucktwits____dumbass…____unemployable-____”etc.)

bullwhip29
Guest
bullwhip29

The Richmond RCMP Prolific Offender Suppression Team (POST) joined forces with officers from the Property Crime Unit to arrest 32 suspected shoplifters last week as part of a large scale police operation targeting retail outlets
https://www.richmond-news.com/news/32-arrested-by-rcmp-after-large-retail-theft-operation-in-richmond-1.23870147

“If you are a criminal and you come to Richmond for the sole purpose of committing a crime, we will catch you.”

Shit It Down Already (original)
Guest
Shit It Down Already (original)

Translation:

Queen’s cowboys probably spent millions to deal with impact of an alleged crime lesser degrees of magnitude.
aka “screw the pooch ” aka exploit taxpayers wallet so the corrupt legal system can milk further…

This will deflect attention from crimes of much higher magnitude and impact.

Stir and repeat..

bullwhip29
Guest
bullwhip29

The Chinese military received official ownership of a piece of prime Hong Kong waterfront land on Saturday, even as the city is rocked by anti-Beijing protests just days before the anniversary of its return to China
https://www.richmond-news.com/news/asia-pacific-news/chinese-military-gets-hong-kong-harbour-dock-despite-tensions-1.23870367

>>> uh-oh…

Hyper-mega-Bull
Member
Hyper-mega-Bull

the question isn’t IF HK will loose it’s freedom, it’s when. HK doesn’t have the population or money to hold off PRC forever. it’s just a matter of time. the fight is for more time. china was supposed to respect HK autonomy until 2047. obviously china is trying to cheat on that as they cheat on everything.

Shit It Down Already (original)
Guest
Shit It Down Already (original)

Why should we care about Hong Kong..???? what purpose is served delaying the inevitable ?

F8ck em

bullwhip29
Guest
bullwhip29

well, it would give those hard working ordinary locals more time to find their dream homes before a wave of FBT exempt Chinese Canadians jump into the fray and mess Carole James’ master plan up for good. should such a scenario play itself out, she’d literally have no cards left to play (aside from simply penalizing anyone and everyone who owns RE)

Shit It Down Already (original)
Guest
Shit It Down Already (original)

IMHO….Hong Kong was designed to be the initial wave of fiscal SINO proxy warriors…..

They took their ill gotten gains and used the window from 1986 to 1997 to park their a$$et$ in foreign lands with least resistance(like BC )

Then the wedge was established to infiltrate the rest of the planet ……and the Mainland Chinese wave attacked us since then.

Why people think that Hong Kong and Beijing are “enemies”…. instead of allies …..is beyond comprehension.

Think looooooooonnggggggggggggggggggggg term morons.

Bubble
Guest
Bubble

What’s the good reasons Not banning foreign owership?
1. lowered housing price (boomers losing equity);
2. less foreign investment for BC’s economy:
3. ?

DaMann
Member
DaMann

that’s pretty much it.

YVR
Guest
YVR

It is about tax revenue. But maybe you should ask Eby. He is the one who said only corruption could explain why foreign buyers were not banned from buying presales (that was before the election).

patriotz
Member

“What’s the good reasons Not banning foreign owership?”

Outright bans on foreign ownership encourage locals to set up fronts for foreign owners and profit from it. This isn’t just theory, it’s what actually happens. Better to tax it, keep the statistics public and have the money go to the government.

And I would ask anyone who criticizes the current provincial government for not banning foreign ownership to name another party which does advocate such a ban.

SilentBob
Guest
SilentBob

If every party advocated jumping off a cliff, would you do it?

Best place on meth
Member
Best place on meth
patriotz
Member

You’re quite right, I forgot about that. But the GP didn’t advocate a ban during the election campaign – their official platform advocated an expanded foreign buyers’ tax, which the NDP adopted to a large extent itself.

Weaver never explained why he changed his position. My theory, for what it’s worth, is that he decided he had to appear tougher than the NDP after continuing to support them despite the NDP’s decisions on such issues as Site C and LNG – which weren’t against the NDP’s platform, but very much against the GP’s.

Canada is for Canadians
Guest
Canada is for Canadians

“Outright bans on foreign ownership encourage locals to set up fronts for foreign owners and profit from it. This isn’t just theory, it’s what actually happens. Better to tax it, keep the statistics public and have the money go to the government.”

that’ll still happen with taxes in place; same as an outright ban.

patriotz
Member

“that’ll still happen with taxes in place; same as an outright ban.”

It still happens all right, but it’s not the same as with a ban, because if a foreign buyer has the choice of going risk-free and paying the tax fewer will go the illegal route.

Similar to marijuana prohibition versus legalization if you think about it.

Doomcouver
Member
Doomcouver

There are economic impacts to closing the door on foreigners buying property. As is Canada is desperate for anyone to come to our country to support our upside-down demographic issues with all the gray-hairs soaking up social services and not enough millenials to pay for it. That said I think that banning foreign ownership would be a net positive for Canada.

Shit It Down Already (original)
Guest
Shit It Down Already (original)

Oracle…..

Fraser Valley is on FiRe……!?!?????

Parachute and diapers ready ???

Scroll to about 9 minute mark….Valley is primed for COLLAPSE

Shit It Down Already (original)
Guest
Shit It Down Already (original)

Any time I try to post link….my comments are stuck in moderation….

Go to YouTube and Steve Saretzky
“The Infallible Central Bank Theory Will be Debunked” and scroll to 9 minute mark

Oracle
Guest
Oracle

It’s not.

Valley is the future home to a million people from India.

Trust me on this.

Specuskeptic
Member

I don’t trust lying scumbags with a proven record of deceit, so no, not going to trust you on this.

Call me crazy with panties in a bunch, but facts are facts.

Canada is for Canadians
Guest
Canada is for Canadians

The entire lower mainland real estate market is poised for collapse.

paulb
Member

New
106
Price Change
108
Sold
87
TI:15878

http://www.clivestevepaul.com

Oracle
Guest
Oracle

Is this the peak?

How big of a drop will we see Tuesday?

Specuskeptic
Member

“How big of a drop will we see Tuesday?”
In prices or inventory?

Best place on meth
Member
Best place on meth

That’s the end of the month.

Sales took a big tumble from last month, which was the peak for the year, 2104 vs 2675.

Listings also fell, 4560 vs 5529

Sell/list ratio marginal lower, 46% vs 48%

MOI rises to 7.5 in June from 5.8 in May – that’s the most important one.

Prices should be continuing their decline when stats come out next week and the declines should accelerate in the second half of the year.

Shit It Down Already (original)
Guest
Shit It Down Already (original)

Thanks for numbers….

IMHO, we are in uncharted waters..to the point the numbers may be between meaningless or scratching the surface.
Wasn’t too long ago we were waiting for TI to be 13,000 ?..now we are near TI of 16,000.

At best…we may be in a Bull Trap, whereby there will be sales by parties who think the market has bottomed out, delaying the inevitable but history has shown that when the market turns…it lasts a loonngg time.

Also…recent data showed we lost over 11,000 jobs in construction…there is a good bellweather.

Specuskeptic
Member

De-listings look to be down sharply as well. This will help put upward (or at least reduce the downward) pressure on MOI and listings overall. https://vured.blogspot.com/

Canada is for Canadians
Guest
Canada is for Canadians

Trump, Xi hit reset button on trade but long slog awaits

The Trump administration says China is trying to cheat its way to dominance in the cutting-edge technologies of the future such as artificial intelligence and quantum computing.

In a report last year, the Office of the United States Trade Representative accused Beijing of resorting to predatory tactics to challenge American technological supremacy.

These include forcing foreign companies to hand over technology in exchange for access to the Chinese market; subsidizing its own companies (especially those owned by the state) while burying foreign firms in regulations; providing government money so Chinese firms can buy sensitive foreign technology at above-market prices; and stealing trade secrets outright.

Canada is for Canadians
Guest
Canada is for Canadians

Delta mayor to boycott reception hosted by Chinese government

Same with Port Coquitlam mayor Brad West

NOTE: news1130 link was included and post went to “moderation”

Canada is for Canadians
Guest
Canada is for Canadians

In a written statement, mayor Harvie says: “The issue of UBCM having a sponsorship agreement with the Consulate-General of the People’s Republic of China is concerning and I am opposed to foreign influence in our local affairs.”

Shit It Down Already (original)
Guest
Shit It Down Already (original)

Too late….

It was game over when we allowed the first wave of Chinese (from Hong Kong) to , in essence ,colonize us.

I think the gov’ts realized that BC economy was on the ropes in the early 1980’s, EXPO 86 was effectively a marketing campaign aka ” BC is FOR SALE ” .

We welded the doors OPEN and held our noses…Forget all the stupid sub categories like Permanent Resident etc….their home base was in a foreign land, they determined the price benchmarks and ruled the market. We accepted this because they provided jobs..we effectively built potemkin cities….a faux economy.

Now we are stuck in quicksand of uncertainty and having bypassed several long overdue corrections.

China has” owned “us for decades.
Even if they were a small % of the buyers….without their dirty money…this market will collapse.

Best place on meth
Member
Best place on meth

Anything sponsored by the chinese government should be banned outright in all of Canada.

Doomcouver
Member
Doomcouver

As they should.

Shit It Down Already (original)
Guest
Shit It Down Already (original)

From Van RE flip flops

And just sold today for 48% below 2017 assessed

1449 Sandhurst Place, West Vancouver

Sold for $2,758,000

2018 Assessed: $4,710,000
2017 Assessed: $5,257,000

Court ordered sale
=========

Check the photo….tarps on roof

Comments make good points such as if West Van SFH sells for $2.7 million…what happens to price of $2,7 Million homes elsewhere?
West Van has been where nouveau riche tended to buy….this market may be hit harder than elsewhere.
How many court ordered sales are in the pipeline?

Oracle
Guest
Oracle

Part cash transactions.

Can’t believe you whites haven’t picked this up yet.

Hint: why haven’t the neighbouring houses sold for 48% below assessment.

You guys can’t really be that dull. Can you?

patriotz
Member

“why haven’t the neighbouring houses sold for 48% below assessment.”

Because this is a lot value property and the neighbouring houses aren’t. It’s also a court ordered sale. Hey Boracle, how do you get “cash under the table” on a court ordered sale? Note every neighbouring property that sold in 2019 was under assessment, one of them almost $3 million under. Click on “sample sold properties”.

https://www.bcassessment.ca//Property/Info/QTAwMDAyOUQySA==

Werner Stein
Guest
Werner Stein

It’s noteworthy that Brad West has been quite vocal and public about the destruction of the drivers of the BC economy and its replacement with blood money, and other non-productive bubble pumping scams.

It makes one wonder why other, past and current, mayors have been noticeably obscure with their public comments.

Maybe the public inquiry should explore if some numbered companies and trust accounts can be traced to people who had direct control or influence on land use policy, which would ultimately benefit friends and families of said public servants who were entrusted with the public good.

Shit It Down Already (original)
Guest
Shit It Down Already (original)
There is no secret nor claims of ignorance…. The first wave of Chinese(Hong Kong) established a/the pattern since mid 1980’s They bought those gaud awful McMansions…often sent wife and kids to live in them and take advantage of our public services and often claim “poverty” in their tax returns …….while dad went back and earned money back in Hong Kong..aka the satellite families. Recall that these immigrants were ORIGINALLY supposed to create businesses as a condition (and NOT invest in RE.) Well..that didn’t last long. We had lots of warning that the foreign locusts knew our weak points…..aided and abetted by local traitors( ie lawyers ,realtors, developers ) and exploited all the” legal” loopholes which we can blame both the politicians and citizens via blindness of greed. The next generation of greed was to ignore all the warning signs of… Read more »
Shit It Down Already (original)
Guest
Shit It Down Already (original)
From Van RE Flip Flops Douglas Todd: QUOTE: “I get a private message like this from a distraught college or university instructor 3 times a week. They’re traumatized by the inadequate English of many #internationalstudents, esp. the surge lured from #India. No one wins, say the faculty. #CDNpse #bced #USpse #CDNimm #bcpoli ” Lots of comments…. QUOTE: This is echoed by my kids who have attended Kwantlen in Richmond. And yet next semester – those students are somehow passed through. So they are cheating on at-home assignments to bring marks up – or instructors are forced to give them a pass. That is the question to ask.. QUOTE: Same goes on in WestVan. Teachers won’t speak about it openly but there are visible frustrations. You can’t fail a client, so you stick them in groups with English speaking kids and… Read more »
hahahaha
Guest
hahahaha

HK immigrants didn’t have basic English yet were passed through anyway and Infact judged by a different standard and give high grades despite not being able to communicate taking university seats from more rounded students that were judged more harshly.

Not new. Has been going on for 30 years. It’s good that it is being addressed but I have to wonder why now?

Oracle
Guest
Oracle

Real estate developers sit on boards at post secondary institutions. And they’re in the ministry too.

Oracle
Guest
Oracle

Hint: it’s not about education.

$$$$

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

I’ll buy three!

Laibach
Member
Laibach

“Only one in eight families earns the income necessary to manage ownership costs in the Vancouver area.”

https://biv.com/article/2019/06/housing-affordability-still-dreadful-vancouver-despite-slight-easing-rbc

Canada is for Canadians
Guest
Canada is for Canadians

In Burnaby I just finished watching my chineeze neighbour across the lane from me dumping refuse and plant waste into my other neighbour’s green bin under the cover of semi-darkness. This is the same neighbour who overbid on the house in 2016 and then put in well over $100k of renos without any city permits. And she told my neighbour that that her husbah works in HK and sends the cashola over here. Rules? What rules? What a horror show this city has become.

Laibach
Member
Laibach

More or less the same shit with locust is happening everywhere but many handles the crap much better than Canada, for example Kenya.

“The Kenyan government has launched a war against Chinese nationals engaging in businesses reserved for locals. The recent crackdown was at a brothel in the capital Nairobi where 15 Chinese nationals were arrested.”

https://face2faceafrica.com/article/kenya-battling-with-chinese-prostitutes-arrests-15-at-brothel

Best place on meth
Member
Best place on meth

Chinese prostitutes are everywhere, god knows how many of them are in the lower mainland.

It’s good to see Kenya deporting them, chinese should be deported in masssive numbers from all countries they’re pillaging.

Oracle
Guest
Oracle

Nothing to say about your white politicianS who are allowing this shitshow?

Best place on meth
Member
Best place on meth

You need to start taking videos of illegal activity.

Oracle
Guest
Oracle

Hahahaha.

What’s that going to accomplish? No offence but that’s a dumb white move.

Canada is for Canadians
Guest
Canada is for Canadians

There’s so much illegal activities happening I don’t have that many cameras…

Werner Stein
Guest
Werner Stein

Once in a while, our pliant media shows clips of duffle bags full of blood money being handed over to the casino clerk to initiate the laundry cycle.
Sensational, and although judged by low standards, almost compelling journalism.

It’s astonishing how unsophisticated the whole scheme is and it is a testament to what the crooks must think or our law enforcement.

xhistory
Guest
xhistory

the medea has jumped the shark. It showed up with a sensational piece on a UBC profs Affordibility Cor-relation. It’s purpuse, it seems to me, was to deflect attention away from the real and substantial True corelation of our time: the Price to Refinance ratio, as presented by Steve Keen over 2-1/2 years ago.

Shit It Down Already (original)
Guest
Shit It Down Already (original)
U.S. and Canada closer to lifting veil on corporate ownership VANCOUVER—After years of inaction, the U.S. and Canada are getting closer to revealing who owns anonymous companies, transparency experts say. “In the State of Kentucky, you don’t have to put the name of an owner, you don’t have to put a contact name, you don’t have to put any individual on your (corporate registry form),” said Gary Kalman, the executive director of FACT Coalition, an American non-partisan group that advocates for corporate transparency. “But to get a library card, you have to provide biometrics.” Because of such lax requirements, critics say, criminals can easily use North American businesses for money laundering and tax evasion while hiding their own identity behind legal trusts and shell companies. At a Bribery and Economic Crime conference in Vancouver on Thursday, Kalman said these structures… Read more »
Shit It Down Already (original)
Guest
Shit It Down Already (original)
(FROM ZERO HEDGE) Vancouver Housing Unaffordability Due To Foreign Ownership, Chinese Funds, & Migrant Millionaires, Study Says A new study has provided evidence linking unaffordable housing in Vancouver to foreign ownership, Chinese capital and millionaire migrants, according to the SCMP. A white paper published by Josh Gordon, an assistant professor at Simon Fraser University’s school of public policy, found a stunning 96% correlation between metro Vancouver municipalities’ price to income ratios and the proportion of their detached houses in which at least one owner was a non-resident. The correlation was called “unimpeachable” by a leading research who commented on the paper. In short, this means that the more that a Vancouver municipality was sought after by non-resident owners, the more unaffordable it became. Gordon said: “When I plugged the numbers in it blew my mind … I mean, holy smokes.”… Read more »
xhistory
Guest
xhistory

Thanks. This is the story that doesnt blow anyones mind

tester
Guest
tester

Would be interesting to see how one determines areas considered attractive.

Oracle
Guest
Oracle

Look at Abby.

No way that detached starter homes there should be going for $800K.

Immigration, foreign money, basement suite tax evasion, and government handouts.

There. … no study needed.

xyz
Guest
xyz

@ Oracle

“No way that detached starter homes there should be going for $800K.”

I agree…not much less than some recent sales in East Van….that’s why I’m content to sit and wait.

Bubble
Guest
Bubble

Faulty towers: https://youtu.be/6WIA9KIK_So

Nine News Australia
Published on 26 Jun 2019

There are fears that the entire building industry will grind to a halt as a result of dodgy building practices.

Ejeje
Guest
Ejeje

CHINESE ARMY HAS BEEN DEPLOYED TO PUT DOWN PROTESTS IN HK.

US MARKETS.DOWN HEAVILY

PENTAGON MONITORING SITUATION

SilentBob
Guest
SilentBob

China has every right to exercise control over its own internal security, as does any other sovereign nation. HK is China. Deal with it. Taiwan, on the other hand, is #1.

xyz
Guest
xyz

@ SilentBob…nice try…..you need to brush up on your knowledge of Hong Kong.

****************
China had to accept some conditions, stipulated in the Sino-British Joint Declaration, such as the drafting and adoption of Hong Kong’s mini-constitution before its return. The Basic Law ensured Hong Kong will retain its capitalist economic system and own currency (the Hong Kong Dollar), legal system, legislative system, and people’s rights and freedom for fifty years, as a special administrative region (SAR) of China.

https://en.m.wikipedia.org/wiki/One_country,_two_systems

Best place on meth
Member
Best place on meth

Of course any agreement the chinese sign is not worth the paper it’s written as we’re seeing the lying cheaters reneging on yet another deal.

MTADTA
Guest
MTADTA

Is Britain going to enforce the agreement?

HK is China

asdf
Guest
asdf

US will. If HK is no longer autonomous then they will be treated the same as China for trade and investment.
25% tariff.
All kinds of restrictions on investment.
Chinese companies that want to access global capital sell bonds in HK and IPO in HK or other countries outside China.
If HK is China then there is no reason for it to exist and it declines. It’s a shitty hot stinky crowded expensive place. The only reason the city exists is because of it’s unique economic and political situation.
Remove that and it disappears.

bullwhip29
Guest
bullwhip29

lol…is that so?

Canada is for Canadians
Guest
Canada is for Canadians

LONDON — Global markets rose sharply Monday after President Donald Trump’s meeting with China’s Xi Jinping at the Group of 20 Summit in Japan raised hopes of progress in stalled trade talks between the two countries.

Post with the link went to “moderation”

Shit It Down Already (original)
Guest
Shit It Down Already (original)

Re Hong Kong riots

Trying to post inks etc…but GOOGLE/YOUTUBE” Hong Kong Riots July 1st 2019″
Interesting developments..

southseacompany
Member
southseacompany

“Greater Vancouver New Home Sales Drop Nearly 90%”, Better Dwelling

https://betterdwelling.com/city/vancouver/greater-vancouver-new-home-sales-drop-nearly-90/

“Greater Vancouver pre-sale listings for real estate made a large decline. Only 539 new pre-sale units launched in May, down 37.98% from the month before. This represents a decline of 65.44% from last year. ”

“Sales of new construction dropped by an even larger number. There were 119 pre-sales made in May, down 31.21% from the month before. This represents a decline of 89.10% from last year. “

southseacompany
Member
southseacompany

“Why wealth gap has grown despite record-long economic growth”, Financial Post
https://nationalpost.com/pmn/news-pmn/why-wealth-gap-has-grown-despite-record-long-economic-growth-4

” As it enters its 11th year, America’s economic expansion is now the longest on record. Yet even after a full decade of uninterrupted economic growth, the richest Americans now hold a greater share of the nation’s wealth than they did before the Great Recession began in 2007. And income growth has been sluggish by historical standards, leaving many Americans feeling stuck in place.”

“Fewer middle-class Americans own homes. Fewer are invested in the stock market. And home prices have risen far more in wealthier metro areas on the coasts than in more modestly priced cities and rural areas. The result is that affluent homeowners now sit on vast sums of home equity and capital gains, while tens of millions of ordinary households have been left mainly on the sidelines.”

StupidityCheck
Guest
StupidityCheck

Hint: It doesn’t trickle down.

YVR
Guest
YVR

Not to unskilled union labour. That is why unions are in decline.

Shit It Down Already (original)
Guest
Shit It Down Already (original)

Driving down Cambie yesterday…

LOTS of construction”activity”

Translation:
These are the pre-sales of last few years..the builders are at point of no return/tipping point…..when cancelling a project may have been more prudent..they decided to TRAP pre-sale buyers to force the issue.

Prediction? this will end up bad for both developers and purchasers aka can’t get blood out of a stone. The courts will be plugged for decades, perhaps forcing Gov’ts hand.

Simple Solution
Member
Simple Solution

“forcing goat’s hand”… what can the govt do?

bullwhip29
Guest
bullwhip29

many of these contracts are completely one-sided. the builders can just delay and delay under the end of time. in the meantime they hang on to your deposits. they can also turn the screws harder on the buyers and adjust the price for a whole host of reasons buried in the fine print of contract (which no one actually reads) to offset some of their losses, modify the building plans and/or terms to suit the needs of a now less enthusiastic buyer and implement a moratorium on assignments