Friday Free-for-all! October 11th 2019

It’s the end of another week and that means it’s time for another Free-for-all open topic discussion and news round up for the weekend.

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

Vancouver prices falling
Without housing we’d be in a recession
Suburban dream a debt filled nightmare
Canadas debt-monster

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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Just thinking
Guest
Just thinking

Your Real Estate Agent Hates You – Here’s Why

https://www.hgtv.ca/real-estate/photos/real-estate-agent-hates-you-why-1932355/

This is a hoot. It must have been written by a real estate agent.

patriotz
Member

Chinese social media giant flouting Canadian election law

“Election ads are appearing on WeChat, while company says it doesn’t accept political ads”

Best place on meth
Member
Best place on meth

This is highly unusual, it’s so unlike the chinese to flout Canadian laws.

They’re typically very respectful of our country.

franko
Member
franko

Gerald Butts must be getting desperate when he fells it’s necessary to instruct the liberal funded CBC to launch a lawsuit to against the Conservative party a few days before the election.
http://www.torontosun.com/opinion/columnists/lilley-cbc-lawsuit-against-conservatives-looks-like-move-to-protect-trudeau-liberals
It is a sad day when the taxpayer elected official opposition gets sued by the taxpayer supported broadcaster. In other words, taxpayers sue taxpayers.
I can only hope the cons are smart enough to prolong and milk this opportunity as long as possible as it is already beginning to backfire.

Best place on meth
Member
Best place on meth

Eby’s October newsletter has news on the shell company property ownership registry.

“I’ll be presenting in November at the World Bank in Washington, D.C. on the issue of international criminals using our province as headquarters for money laundering efforts. In my opinion, a desire for a dramatic improvement on this file is a non-partisan issue that should be of concern to all Canadians at election time, and at all times.

In good news on the province’s initiatives on this file, a beneficial ownership registry of real estate in the province, requiring that the “real” owner of a property be listed, is nearing readiness for deployment. This public-facing tool will dramatically assist police, tax authorities, and journalists – among others – in connecting dots and cracking down on financial crime in our real estate market.”

https://mailchi.mp/leg/sh95sy9e8h-1648869?e=e46d1d4b50

Bestplaceonearth
Guest
Bestplaceonearth

You guys are so easily fooled by the no deal party. True ownership information is given to fill all the forms when closing at the lawyer office including name, sin number…etc…they just have not asked for the dna yet. Now that they wanna make it public to show the poor voters they have done something for them. You don’t get out much, do you!

Best place on meth
Member
Best place on meth

They just did the same state wide in New York last month.

https://gothamist.com/news/new-state-law-seeks-unmask-property-owners-behind-llcs

The rats and roaches are not going to like being exposed.

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

Note quite the same – the NDP are still “nearing readiness”, whereas New York State actually did it.

patriotz
Member

The NY state government has been under one party majority control since 2008, while the NDP doesn’t have a majority in the first place, so I think they’re not doing too badly.

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

The Land Owner Transparency Act received royal assent back in May. So that’s a pretty weak excuse.

Just thinking
Guest
Just thinking

The info that gets sent to the Land Titles Office is the registered owner of the property which could be a numbered company. The beneficial ownership is unknown at that point which is what the NDP is trying to rectify. Lawyers don’t have to disclose any of their client’s personal info.

xhistory
Guest
xhistory

“The lore of myths, about its zodiacal characters, is easily understood and stands the test of time, amenable to word of mouth. Incorporating into a cultures oral tradition, intervening generations could accurately reproduce the Coded text within. The code of the stars. Then, one day, when civilization had again Attained a sufficiently high level of advancement, the cipher might be understood, it’s riddled solved, and it’s message finally unmasked.”

Cipher in the Sky, Chapter 1
Message from the Past, pg 3
Paul A LaViolette, Ph.D
1997

xhistory
Guest
xhistory

All I’m trying to tell you is that they have curbed the word Affordable, for the word Attainable. This is code, and I broke it today.

xhistory
Guest
xhistory

https://theanatomicallycorrectbanana.com/home/2019/9/20/the-way-life-should-be-vol-xi-its-all-happening

Interesting article on State of Maine demographics, and the political economy. Each of us in our demographic cohort being played by the maestros fiddle while the elite form and pattern our cookie lives.

On the west coast, ‘attainable’ Housing language is a perfect example

Best place on meth
Member
Best place on meth

A little bit of hope from the polls:

Prior to the debate there were no polls since June that had the Liberals below 30% support.

Since the debate there have been 4.

paulb
Member

New
121
Price Change
74
Sold
101
TI:13754

http://www.instagram.com/clivestevepaul

xhistory
Guest
xhistory

It’s called Attainable Housing

http://www.cowichanhousing.com/attainable-housing.html

Not called affordable, if it was we’d be living in our vehicles

bullwhip29
Guest
bullwhip29

Elite Chinese chess players from around the globe descended on Richmond this week
https://www.vancourier.com/world-s-best-chinese-chess-players-compete-in-richmond-1.23972456

Best place on meth
Member
Best place on meth

“Descended” is an apt word.

What is chinese chess anyway, is that like checker?

Laibach
Member
Laibach

Meanwhile, shitshow continues…

https://youtu.be/Px6IpMe2QR8

Best place on meth
Member
Best place on meth

Still no chinazi blood or brains on the ground

Very disappointing.

Doomcouver
Member
Doomcouver

This is what happens when you let Maoists into your country.

Just thinking
Guest
Just thinking

That one guy near the end of the video: “this is Canada, don’t bring communism here” Right on!

Best place on meth
Member
Best place on meth

The one who said “go back to the mainland” was also good.

bullwhip29
Guest
bullwhip29

Metro Vancouver bus and SeaBus workers vote to go on strike
https://vancouversun.com/news/local-news/metro-vancouver-bus-and-seabus-workers-vote-to-go-on-strike

>>> should be a great holiday season for the grey market taxi industry…

Doomcouver
Member
Doomcouver

You mean the grey market taxi industry that only picks up Chinese people? Sorry whitey, guess you’re walking.

bullwhip29
Guest
bullwhip29

WeWork to Run Out of Cash by Next Month Without New Funds
https://www.bloomberg.com/news/articles/2019-10-11/wework-to-run-out-of-cash-by-next-month-without-new-financing

>>> ok, so we go from chatter of a $50-60B valuation to potential bankruptcy in a matter of weeks? ummm, yeah…this is definitely a sign these markets are right back to where they were at the peak of the dotcom boom and/or the US housing bubble. imho, time to liquidate everything and call it a year.

Just thinking
Guest
Just thinking

Hudson’s Bay in in bed with these guys big time and they have converted part of their downtown stores into WeWork spaces… this doesn’t bode well for The Bay.

http://investor.hbc.com/news-releases/news-release-details/hbc-and-wework-enter-global-multi-faceted-strategic-relationship

Doomcouver
Member
Doomcouver

The Bay is going the way of Sears soon enough. It was inevitable.

bullwhip29
Guest
bullwhip29

New Canada Line station in Richmond ahead of schedule
https://www.richmond-news.com/news/new-canada-line-station-in-richmond-ahead-of-schedule-1.23972565

well, at least in Concord Pacific’s ( and Michael Ching Mo Yeung’s) corner of the world, business is going gangbusters… new int’l trade center, new Cda Line station located 2 blocks from existing one, too many condo towers to count, a luxury shopping mall now on to phase 3 of its expansion, a new overpass in the works to unplug the resulting traffic gridlock into YVR and so on and so forth…

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

A new Skytrain station is a good thing, as is a growing economy. Yet somehow you always try to find something to moan about.

Doomcouver
Member
Doomcouver

Yeah getting some transportation infrastructure paid for by tax revenues from our transiently hot housing market is good news in the grand scheme of things. Like the cherry on a 50-pound poop-sundae.

southseacompany
Member
southseacompany

“September home sales surge signals the real estate market is returning to equilibrium”, Financial Post
https://business.financialpost.com/real-estate/september-home-sales-surge-signals-the-real-estate-market-is-returning-to-equilibrium

“While the industry has greeted the rebound with relief, the question of why sales are bouncing back now is unclear.”

“Some experts believe that low mortgage rates have been a factor. Also, buyers previously deterred by the stress tests might “have adjusted to the guideline in terms of the type and location of purchase, purchase price and down payment amount,””

“Others believe that shared equity mortgages (SEM) might have contributed to the increase in sales.”

” Benjamin Tal believes that declining interest rates have helped the recovery in housing markets. However, he cautions the markets to be prepared for an interest rate hike in 2020 or soon afterwards.”

Doomcouver
Member
Doomcouver

We all know this is no “recovery”. At best we’re getting a bull-trap before the next leg down in prices. Traditional pricing ratios put the floor on prices way below current valuations. Consumers are still stuck in the “home prices only go up, they’re just taking a breather” paradigm. It’s going to take an economic shock to make them see the true danger of owning an over-priced, over-leveraged asset.