Sorry to tell you, but we’re not number 1 – that honor goes to New Zealand, but Canada is right up there on this visual map of countries at the greatest risk of a bursting housing bubble.
Thanks to southseacompany for the link, see all the data here.
The last major recession in USA and the world for that matter was caused by deflation. That being the case the FED should promote inflation to prevent back sliding into a deflationary spiral. Europe and Japan are back sliding. It is extremely difficult to get out of deflation. I side with the 8 FED officials and so does the bond market.
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2 Fed officials say data did not support interest rate cut
I agree with this and in fact I’d have said a rate increase would have been in order, but with the gong show currently unfolding in the USA with Trump basically winging it and plus he has Powell on the ropes they are in the worst of all worlds now. I’m also confident that the China trade war will not get solved and it will blow up the world economy big time. Trump the bumbling racist moron is completely incompetent and we have no idea the damage he can do if he wins a second term.
The two dissenting regional banks are key to decoding the Fed and the subsequent market reaction:
Boston is the countries oldest demographic. And in KC, the Kansas City hospital has a record number of female nurses of child bearing age pregnant.
The Fed is saying they are Primarily watching vital stats now, and events that change them.
Canada, New Zealand, Sweden, Norway , Australia, Belgium, and UK.
What is the nexus ?
Some past, and some current corrupted governments.
“Greater Vancouver home sales jump in July, but prices continue steady slide”, Global News
“That’s according to the latest data from the Real Estate Board of Greater Vancouver (REBGV), which said that despite the bump, sales remained 7.8 per cent below the 10-year July sales average.
“Despite the bump in sales, prices have continued to slide. The benchmark price for a detached home across the region in July was $1.4 million, down 10.5 per cent from July 2018 and down 0.5 per cent from June this year.”
He saved hard and, only a year later, in 2002, Miftar bought the five-bedroom, single-family home on Railway Avenue for his family, who were living in their own three-bedroom townhouse in south Richmond at the time.
“I worked hard. I would work all weekend as well. (The house) was under $300,000.”
This was back in the day when the average working stiff could “work hard” and actually save up enough cash in a reasonable amount of time to afford a house. No competition from money launderers and tax cheats back then …
Relative wage collapse has been a pillar of modern day population growth control.
“This was back in the day when the average working stiff could “work hard” and actually save up enough cash in a reasonable amount of time to afford a house. No competition from money launderers and tax cheats back then …”
Cue up the usual clown to tell you that it has nothing to do with the vermin but local greed.
July sales up 24% year over year.
How’s the NDP working for you? Told you guys they weren’t genuine. Obviously the Liberals would be worse but that’s expected. What the NDP did is play renters for fools.
The bottom was February unless the NDP actually do something.
the bottom was February… unless of course it wasn’t, then you will just pull new dat out of your ass….
So? Sales for July, 2018 were the lowest sales since 2000.
Good grief.
I’m just saying that this July was better than last July in terms of sale.
Why do you get soooo upset at that?
And if August and September are better than last year, then the bottom already happened.
Why don’t you take your anger out on the NDP for not acting boldly. You guys easily attack me but nothing at them.
I told you guys the policies were a charade and nothing proper was done.
Now enjoy your bed.
Get lost and take that REBGV spin with you.
Who will you vote Oracle?
Abstaining.
Will not vote NDP, Lib or Green.
Maybe people will grow a brain in 2-3 election cycles to figure out what’s really going on.
I will vote NDP because it stop BC housing crazy growing.
Drivers in Richmond… what a’ oxymoron.
ICBC looking for new drivers in Richmond for pilot project
should be MANDATORY for any N driver or anyone caught excessive speeding…
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This 25,000 sq ft lot just sold for over $6 million:
4745 W 6TH AVENUE, Vancouver
Date Comments
2019-Jul-15 Sold $6,588,890 R2386130
2019-Jul-04 Listed $7,280,000 R2386130
Faith Wilson Group
Very likely a boomer cashed out (bought in 1988 for $550,000)
Sold $1 million under assessment.
Still, that’s pretty good if not insane given the geolocation. However, an increased presence of Chinese (not speaking English and looking “just landed” or “touristy”) is quite noticeable in the past several weeks, take a downtown stroll. Are they back at it, again? Where else are those sale increases coming from? Time will tell…
Come to Langley and Surrey. I’ll show you the caravan of busses now rolling through the countryside.
OK. Where do we meet?
Are these caravans from Guatemala or El Salvador, and how did they sneak across our border?
More evidence the number 4 is bad luck
https://www.scmp.com/video/china/3020973/44-people-injured-huge-wave-chinese-tsunami-pool
Parks puts up toilet etiquette signs to help international tourists use outhouses
“signs, which ask users to sit rather than stand on toilet seats, in bathroom facilities…”
How can some people be so ignorant as to try standing on a toilet seat ? This is really the downside of “international” tourism… never mind all the other uncouth stuff they do…
It is cultural matter and ministry of multiculturalism should get involved with the training upon arrival right at YVR. As they come volunteers would get them trained so they can enjoy western toilet experience.
Even President Xi agrees “Toilet issues are not petty matters but an important aspect of improving infrastructure in urban and rural areas,”
“However, the problem with China’s public toilets also lie in their crude waste disposal methods, which are often seen in squat toilets. World Toilet Organization project manager Bai Lin mentioned that most public toilets in rural areas don’t even make use of sewage pipelines; rather, waste is “allowed to seep into the ground” instead.”
The worst public toilet I’ve EVER seen was on a chinese ferry. If I described it to you in detail you’d have nightmares for years.
No doubt the feces were dumped straight into the Yangtze so they could float freely among all the instant soup styrofoam bowls and half eaten watermelons.
LOL!
trump adds additional tariffs as trade talks are going on.
@realDonaldTrump
…during the talks the U.S. will start, on September 1st, putting a small additional Tariff of 10% on the remaining 300 Billion Dollars of goods and products coming from China into our Country. This does not include the 250 Billion Dollars already Tariffed at 25%…
https://twitter.com/realDonaldTrump/status/1156979446877962243
well he didnt get his 50 bp cut yesterday with a promise of ZIRP forever, so he is pissed. will now force powell to do it the hard way….
10% will soon turn into 25% because the chinese are lying cunts.
Trump has known all along that these scumbags would never play fair and he’s treating them like a frog in a pot of water.
“Vancouver market no longer ‘highly vulnerable’ as price acceleration eases: CMHC”, BNN Bloomberg
“The Canada Mortgage and Housing Corp. has lowered the vulnerability rating of Vancouver’s housing market to “moderate,” marking the first change in three years as prices have eased.”
Seems arbitrary to me. The CMHC doesn’t have a clue what’s a housing bubble or not IMO.
“Nervous homebuyers might want to sit on sidelines, says author predicting crash”, CTV News
“…prospective homeowners should be in no hurry to make the largest purchase of their lives if they’re nervous about a coming economic slowdown and eventual recession, says the author of a book forecasting a housing crash in Canada that takes a decidedly contrarian view to that of the real estate industry.”
“”I would say wait,” says Hilliard MacBeth, author of the recently updated “When the Bubble Bursts: Surviving the Canadian Real Estate Crash. “When prices are flat or falling, renting is always financially more successful than buying.””
The U.S. Federal Reserve just saved Canadians who borrowed too much
Chinese billionaire indicted in U.S. for alleged $1.8 billion aluminum tariff evasion
https://www.reuters.com/article/us-usa-china-fraud/chinese-billionaire-indicted-in-u-s-for-alleged-1-8-billion-aluminum-tariff-evasion-idUSKCN1UQ238
He’ll never go to trial on this sine he’s in China, but we’ll never see him in North America again. I wonder how many houses this guy owns in Vancouver. Any that he does I’m sure he’ll put them up for sale as he’ll never be able to come here again.
Any criminal activity should result in seizure of all property.
If we did that routinely there would be virtually no motherlanders left owning real estate in Canada.
Property seizure + deportation = decomintathion.
~ decontamination
Coming to Canada?
Sydney and Melbourne house values have lifted on the back of interest rate cuts, looser lending standards and the Morrison government’s income tax cuts, but most of the increase is going into top end properties.
Desperate spin article funded by vested interests. Prices drop 10% then you get one month where prices are up .01% and that inspires a headline story.
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It was a pretty strong July. Will we have a year-over-year increase in sales for July?
No, it was not a strong July. https://vured.blogspot.com/
That chart shows a 25% increase in sales, year-over-year, in July.
It was the strongest July since 2016
Could be a meaningless bounce just like April-May-June. Relatively strong sales in May then they plummeted in June. I’m interested to see what happens in August.
I really like your three year cherry pick there. Try the last decade or, just for laughs, go back 50, THEN tell us about how string July was….
If you say so, Barnacle.
Richmond ticket-holder wins $60-million Lotto Max jackpot, but no one’s come forward
https://www.richmond-news.com/news/update-richmond-ticket-holder-wins-60-million-lotto-max-jackpot-but-no-one-s-come-forward-1.23898195
>>> how much does everyone want to bet that this winner is currently seeking financial and legal advice in addition to exploring any and all options to force BCLC to allow ticketholder to claim prize anonymously. barring this of course, the winner could just as easily show up with the standard go-to incognito gear (baseball cap, sunglasses, face mask, designer clothing, entourage)
You’d be a fool not to seek legal advice.
Duh.
not arguing with that but will we see this winner’s face plastered on the tube?…i betcha BCLC caves in and we don’t
Recall those country bumkins from Langley who won that huge lotto prize a few years ago and they hired a lawyer and tried unsuccessfully for a year to remain anonymous? And their big splurge idea was to renovate the kitchen in their shack !
Stop being silly. There are photos of other 8-figure winners on their website.
if winner was a student/housewife/consultant/entrepreneur of the sketchy variety, BCLC will be more than happy to make up some excuse to keep details under wraps (for obvious optics reasons).
The only person making things up here is you.
you have no proof of that. when details are finally disclosed (or not) we can talk about this more then. comment bookmarked for now.
Your track record here speaks for itself.
that ticket is worth more than 60 million to a money laundering outfit.
Certainly, fucks would pay a fortune for it. If the fit is right it can easily hit the underground auction.
Yes, that’s exactly what any sane person would do. There’s no chance they’d sign their ticket and call BCLC right away. They’d instead locate some local gangsters.
You clowns have ridiculous imaginations.
BCLC can select the person the govt insiders wants to win!
How is that for imagination?
Can you find what kind dollar figure lottery ticket a sane person would sell to a gangster? I find Chinese culture fascinating and just want to learn more about it. After all it is the word’s oldest continuous culture that is still active today.
I would never have imagined that underground banks would be handling billions of dollars of illegal money right under my nose. So now I think anything is possible.
Perhaps you could explain how the lottery winner explains having way more than their original winnings (or is willing to accept less).
Yes, exactly. You are very clever and understand all the angles. Chinese people are so intelligent and resourceful and it’s a scientific fact that they have the highest IQs in the world. So what $ amount of winnings does it make sense to resell it on the black market?
There is no amount where it would make sense.
Computer glitch removes filter, reveals Chinese vlogger’s real face
“Over the years, some fans have given her more than US$14,533, according to China’s Global Times. She’s “worshiped,” they wrote, for being a “cute goddess.”
But on July 25, Dianxia was caught in her lie when she revealed her true appearance during a joint live-stream with user Qingzi on the platform, Lychee News says.”
typical chineeze swindler … it must be a cultural thing.
I actually have no issues with this particular swindler. Those that got swindled fully deserve it.
I agree… why anybody would donate money to some internet vlogger is beyond me.
Agreed, not really sympathetic to the drooling neckbeards that got duped on this one. Eventually AI can completely replace these people anyways. That’ll be weird…
Crown Casino exposed. Sex trafficking, drugs, money laundering | 60 Minutes Australia
https://youtu.be/9PuHjyny9lE
Wow, President Xi’s cousin is really rich!
Crown casino has a hotline to Aussie’s consulate in Beijing for quick visa approvals.
the “vancouver” model executed to perfection
Australian officials who helped Chinese high rollers obtain visas face probe over money-laundering claims
The reports also said that a cousin of Chinese President Xi Jinping, Ming Chai, holds an Australian passport and was aboard a private jet that was searched by Australian agents in 2016 on suspicion the aircraft was involved in money laundering.
Something wrong with the assessment of this condo at UBC: BC Assessment 2018: $1,875,000
https://www.rew.ca/properties/R2393024/6088-iona-drive-vancouver-bc
6088 IONA DRIVE (new listing price after two years on the market)
Date Comments MLS® Number
2019-Jul-30 Listed $1,399,000 R2393024
Royal First Realty
2019-Jun-05 Listed for sale R2377081
Royal First Realty
2019-Jun-01 Expired $1,480,000 R2323819
2018-Nov-19 Listed for sale R2323819
Royal Pacific Realty (Kingsway) Ltd.
2018-Nov-05 Expired $1,536,000 R2302558
2018-Sep-04 Listed for sale R2302558
Nu Stream Realty Inc.
2018-Sep-04 Expired $1,198,880 R2285801
2018-Jul-03 Listed for sale R2285801
Nu Stream Realty Inc.
2018-Jul-01 Expired $1,499,000 R2230052
2018-Jan-03 Listed for sale R2230052
Pacific Evergreen Realty Ltd.
2018-Jan-01 Expired $1,599,000 R2217698
2017-Oct-25 Listed for sale R2217698
Pacific Evergreen Realty Ltd.
2017-Sep-01 Expired $1,499,000 R2175960
2017-Jun-06 Listed for sale R2175960
LeHomes Realty
Lease land….
yes and what appears to be a game of pre-sale hot potato gone totally awry
Who in their right minds would pay this much for a leasehold? Oh that’s right they’re too house-horny to think straight….
“The ‘Collateral Damage’ of ECB’s QE Worries Top German Judges”, Bloomberg
https://www.bloomberg.com/news/articles/2019-07-31/the-collateral-damage-of-ecb-s-qe-worries-top-german-judges?srnd=fixed-income
“Germany’s top judges again seem troubled by the European Central Bank’s 2.6 trillion-euro ($2.9 trillion) asset purchase program, openly saying the plan’s “collateral damage” harms regular people.”
“The Federal Constitutional Court judges in Karlsruhe asked highly critical questions about the program during two days of hearings this week. Several times the jurists mentioned how low interest rates caused by the ECB policy harms savers or raise real estate and rent prices.”
“Asset Bubbles to Zombie Companies: The Dark Side of Rate Cuts”, Bloomberg
https://www.bloomberg.com/news/articles/2019-07-29/asset-bubbles-to-zombie-companies-the-dark-side-of-rate-cuts
“With the Fed set to lead central banks in adding stimulus… …The unintended consequences are getting harder to ignore”
“An analysis by Bloomberg Economics this month found the property markets of Canada and New Zealand are the most vulnerable to a correction in house prices. City-wise, markets around the world exhibiting bubble-like characteristics currently include Hong Kong, Munich, Toronto, Vancouver, London and Amsterdam. In many areas, prices have been pushed up by a wave of investors snapping up rental properties in search of better returns.”
They put the Mother of my kid on Nitric Oxide (NO)
As I went out to the car to bring in a beer.
An hour or two later, a wonderful birth,
The placenta misses the bucket, that time of year.
