Canada, debt, economy, equity, Europe, prices, USA

We’re not number one.

October 2, 2019 VCI Admin

Southseacompany shared this link to a list of global cities with the most overvalued real estate:

Swiss bank UBS’s Global Real Estate Bubble Index 2019 found a significant overvaluation in half of the 24 housing markets analysed by the research. The bubble risk appears greatest in seven global cities, with Munich the most vulnerable, followed by Toronto, Hong Kong, Amsterdam, Frankfurt, Vancouver and Paris. Major imbalances are also found in locations such as London, San Francisco, Tokyo and Stockholm, while valuations are considered stretched in Los Angeles, Sydney and Geneva.

Read the full article here.

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Global debt at highest peacetime level | Vancouver Condo Info

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[…] a new milestone! Its. Ot just Canadians that cant get enough of that debt, global debt levels have reached their highest peacetime […]

Member

JT sucks

And I mean “SUCKS”
https://www.envedette.ca/videos/dany-turcotte-embrasse-justin-trudeau-1.1586826

May need to wait about a minute for the image to appear.

Member

Best place on meth

Don’t forget to watch the debate tomorrow, Mad Max is going to wipe the floor with those 5 clowns.

Guest

xhistory

Rhonda Chen is running for the People’s Party in Cowichan. ‘doing politics different’ is the slogan. Lydia Hwitsum is the Green Party candidate.

Notice both are Lemurian?

Member

paulb

New
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http://www.clivestevepaul.com
http://www.instagram.com/clivestevepaul

Guest

bullwhip29

Exclusive video of pro-China protester in Trudeau Liberal candidate’s re-election camp
https://www.youtube.com/watch?time_continue=35&v=O7zkl6LvRP0

Meet Eileen Chen, CEO of a Richmond, B.C. advertising and event production company with two offices in Mainland China. Chen waved China’s flag, sang China’s national anthem and shouted at Hong Kong supporters at a pro-China counter-protest on Aug. 17. Less than a month later, she admitted she was working on the re-election campaign for Liberal incumbent Joe Peschisolido.

Member

Laibach

She is a Chinese soldier deployed on foreign soil, it is obvious based on the logistics, tactics and actions. One might only wonder how many of those troops are already strategically stationed across Canada with the stronghold in Richmond? Anyway, they aren’t a problem but those hypothetical racists pointing out danger and anomaly.

Guest

Just thinking

They know Trudope is a commie sympathizer and he admires dictators so they figure he’s one of them …

Guest

Just thinking

Eileen sounds like she’s inhaled some helium.

Guest

Bestplaceonearth

Talking is cheap as usual. Why don’t you guys go to alberdeen station and pick a fight with the Chinese commies. No? That is what I thought. Just like how you deal with your own housing situation…keep on posting more links!

Member

Best place on meth

I will,

Let me know when those chinazi subhumans are there again, ok?

Guest

Bestplaceonearth

Aberdeen station again this weekend. Are you gonna show up?

Member

Best place on meth

What time? I don’t have all fucking day,

Guest

Shut It Down Already (original)

Sure you do, loser.

Guest

jim

@ Bestplaceonearth

“Talking is cheap as usual.”

I noticed that you spend a lot of time here yourself….

Guest

Bestplaceonearth

As much or as little time as I please. Is it ok ?

Member

Best place on meth

It’s ok as long as you don’t say “mama’s basement” every third post.

It makes you sound like a retarded 3 year old .

Guest

Bestplaceonearth

Ok, I will quit saying mama’s basement if you move out of it. Btw, watch out for the your word retard; don’t forget, you still live with mama, and I am independent.

Member

Best place on meth

I’ve been independent longer than you’ve been out of the womb, retard.

Guest

Shut It Down Already (original)

Independent since the divorce, more like.

Member

Best place on meth

What these vermin are doing on our soil is no different then if they were waving Nazi flags.

We wouldn’t tolerate a bunch of scumbags waving Nazi flags, would we?

Guest

bullwhip29

Gokabu Group Holdings Inc. CEO Austin Zhang says the six- to eight-week-long application process to operate as a ride-hailing service in B.C. is putting a strain on riders as well as his company, which previously operated for years in the grey market
https://www.richmond-news.com/metro-vancouver-ride-hailing-firm-says-riders-workers-left-in-limbo-1.23966213

Guest

Just thinking

The “grey market” is that what breaking the law is called now?

It’s tough for them when they have to obey the law. That’s foreign territory for these types.

Guest

Shut It Down Already (original)

No different from all the weed shops. But I’m sure you defended them for some reason I can’t quite put my finger on.

Guest

Just thinking

You are “sure” of that are you ?

Guest

Shut It Down Already (original)

You can read!

Guest

bullwhip29

Court denies two realtors $1.3 million-commission on failed $39-million Vancouver deal
https://www.straight.com/news/1309906/court-denies-two-realtors-13-million-commission-failed-39-million-vancouver-deal

Member

southseacompany

“Global debt surges to highest level in peacetime”, Financial Times

https://www.ft.com/content/661f5c8a-dec9-11e9-9743-db5a370481bc

“We are likely to see central banks continue market interventions that have enabled governments to take on more debt since the crisis, perhaps even financing spending directly with so-called “helicopter money”.

“We’re actually not a million miles away from this. By their aggressive actions over the last decade, central banks have effectively trapped themselves into continually intervening in government bond markets. They’re arguably beyond the point of no return.”

Member

southseacompany

“‘Helicopter money’ may be only weapon to confront next recession”, The Telegraph

https://www.telegraph.co.uk/business/2019/09/29/helicopter-money-may-weapon-confront-next-recession/

“A radical world of “helicopter money” – where central banks fund government spending – is “inevitable” as policymakers run out of ammunition ahead of the next recession, top economists have warned.”

Member

southseacompany

“The NDP Housing Plan Is The Least Bad, But Still Makes Housing More Expensive”, Better Dwelling

https://betterdwelling.com/the-ndp-housing-plan-is-the-least-bad-but-still-makes-housing-more-expensive/

“Only 17 days until the election, and all parties are promising helicopter money for housing. The NDP plan, with rental subsidies, is probably the most well intended one. Rather than using tax dollars to help buy investments, they’re focusing on core needs. Unfortunately, every time you inject a large amount of cash into a market, it creates a ripple effect. The ripple effect flows through the whole market, not just a targeted segment. Even if they’re only looking to help low income renters, there’s broad implications for both non-subsidized renters and homebuyers.”

Member

paulb

New
177
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TI:13906

http://www.clivestevepaul.com
http://www.instagram.com/clivestevepaul

Member

southseacompany

“Why Andrew Scheer’s plan won’t actually make life more affordable”, Yahoo Business

https://ca.finance.yahoo.com/news/andrew-scheer-wont-make-life-more-affordable-174403119.html

One of the biggest issues — especially for young voters — is housing affordability. Scheer has pledged to scale back the mortgage stress test and bring back 30-year mortgages.

“We can’t simply assume we can solve the housing affordability crisis by encouraging younger Canadians to borrow more,” Paul Kershaw, UBC professor and founder of Generation Squeeze said.”

Member

southseacompany

“Why Trudeau and Scheer are out-promising each other on affordability”, Maclean’s https://www.macleans.ca/politics/ottawa/why-trudeau-and-scheer-are-out-promising-each-other-on-affordability/ “The Conservative policy flies in the face of the advice Evan Siddall, president of the Canada Mortgage and Housing Corporation, gave MPs on a House committee earlier this year in a letter. “Critics of the stress test ignore the fact that high house prices are the overwhelming reason why home ownership is out of reach,” Siddall wrote. “In fact, the stress test has helped moderate house prices, making home ownership easier.”” “Tsur Somerville, a professor of real estate ﬁnance at University of British Columbia’s Sauder School of Business, agrees that the stress test is good policy, especially in hot markets. “The problem in Toronto and Vancouver is that house prices are too high,” Somerville said, “not that people can’t borrow enough.” As for the Liberals’ incentive, he doubts… Read more »

Member

patriotz

Plenty more like this at link below. Thx to Mortimer.

1111 Sprice Avenue, Coquitlam
Bought 2016 $1,340,000. Just sold for $1,050,000
2018 Assessed: $1,254,100. 2017 Assessed: $1,266,500

https://twitter.com/mortimer_1?lang=en

Guest

YVR

Here is another one:

TELUS Gardens apartment for sale… built 2016

“Brand new unit – never been lived in. GST inclusive”

1809-777 Richards St, Vancouver

Completed 2016 $773,900

Now asking $1,488,000

2018 Assessed: $1,455,000
2017 Assessed: $1,428,000

Member

patriotz

That $773,900 is a 2012 pre-sale price. Here’s an actual repeat sale from 2017 in the same building:

2912-777 RICHARDS ST
Jul 25, 2019 $1,298,000
Mar 29, 2017 $1,600,000
https://www.bcassessment.ca/Property/Info/RDAwMDBaMEsyNg==/

Member

southseacompany

“Negative interest rates are inflating real estate prices. These cities are at risk of a bubble”, CNN

https://www.cnn.com/2019/09/30/economy/real-estate-bubble-frankfurt-paris/index.html

“Even as the Brexit chaos helps to deflate London’s real estate bubble by undermining the city’s status as a financial capital, record low interest rates are pushing prices in other European cities to dangerously high levels.”

“Hong Kong, and Canada’s Toronto and Vancouver, are also in bubble territory, according to the report.”

Guest

bullwhip29

Livestock found dead with missing genitals, RCMP say
https://www.cbc.ca/news/canada/british-columbia/rcmp-investigating-after-livestock-found-dead-and-missing-genitals-1.5307485

😉

Member

Laibach

China’s Niche Market for Bull Pe**s Is Small But Powerful

https://www.vice.com/en_us/article/8qkj53/chinas-niche-market-for-bull-penien-china-el-mercado-de-pene-de-toro-es-pequeno-pero-poderosos

Guest

xhistory

Today’s Housing crisis is easy to understand. Through Quantitative Easing, which triggered years of cascading refinancing, the great Boomer Bulge, went into the future and pulled that money back to today. They had to have their gluttonous travel and over built and renovated homes, and generally overindulge lifestyles! Making living for those who didn’t partake in this debt fuelled madness… very difficult. So now it’s all hands on deck, to save the glut whales overindulgences! Am I right? Wrong? Should I finance an electric car because the television whispers in my ear that it contributes to the affordability issue? Uh, no it doesn’t. But you can twist anything around to confirm a bias. And that bias is Conceit, that I can go into the future and use tomorrow’s money today, followed by establishing a crime propaganda program to Rob the… Read more »

Member

southseacompany

“Canadian Politicians Promise To Bring More Risk To Housing: Part One, The Liberals”, Better Dwelling
https://betterdwelling.com/canadian-politicians-promise-to-bring-more-risk-to-housing-part-one-the-liberals/

“The Liberals will expand the First-Time Home Buyer Incentive (FTHBI) if re-elected. The plan lowers monthly payments, by letting you buy less of the house. The government kicks in up to 10% of the price, and you pay back their share with your profit/loss. Only households making less than $120,000 per year, can qualify. If re-elected, they plan on expanding the program for Toronto, Vancouver, and Victoria. The cap on household income will increase to $150,000 per year in those regions.”

“The program was helicopter money to the real estate industry, to prop up, or inflate, prices. By providing a part of the down payment, the government is pulling demand forward.”

Member

southseacompany

“Canada’s Conservative Housing Plan Is So Bad, Even The Party Used To Hate It’, Better Dwelling

https://betterdwelling.com/canadas-conservative-housing-plan-is-so-bad-even-the-party-used-to-hate-it/

“Only 18 days until the election, and every party has a terrible housing plan. One of the more interesting ones comes from the Conservative Party of Canada (CPC). The key point is extending the maximum amortization for mortgages. This is a fancy way of saying they want to let buyers pay their mortgage over a longer period of time. The odd thing here is the government before this one spent a lot of time explaining the risks of extended amortizations. That government was led by, *drumroll* the Conservative Party of Canada. Yeah… it’s weird.”

Member

Best place on meth

The People’s Party has no housing platform.

Looks like they don’t want government involved.

Member

southseacompany

“IMF weighs in on Canadian housing — and Vancouver homeowners say good-bye to 80% of income”, Financial Post

https://business.financialpost.com/executive/posthaste-trade-wars-damage-spreads-beyond-factories-imf-weighs-in-on-canadian-housing-and-owning-vancouver-home-sucks-up-80-of-income

“The IMF said in a report this week that well-meaning policies in Canada to improve affordability by increasing a households’ capacity to borrow most often have the opposite effect. By studying the dynamics of house prices in 11 Canadian cities, the IMF determined that households being able to borrow more money has quickly been reflected in higher home prices. “

Guest

bullwhip29

Hong Kong government to announce new law banning masks during public assemblies in bid to crack down on anti-government protesters
https://www.scmp.com/news/hong-kong/politics/article/3031399/hong-kong-government-announce-new-law-banning-masks-during

Member

Bag it and tag it

They’re not happy about not being able to use their facial recognition software.

Guest

Shut It Down Already (original)

This is already the law in many European countries.

Guest

Susan B

I remember when Chinese people where highly respected in Vancouver. Yes, white ppl still tried to put them down especially when they were angry. But no one can deny that Chinese people where thought of very highly in Vancouver.

Now that’s all changed.

Guest

Mike Pence’s Inauguration Tie

Highly respected but also the subject of racism from dumb angry white people?

Got it.

Guest

fgfg

Yes exactly. Chinese will look back at those days with fondness.
Instead of being seen as hard working and smart they are now seen as criminals and foreign agents.

Guest

Shut It Down Already (original)

Yes, but only by fucking idiots such as yourself and the other losers who spend their lives here bitching and moaning.

Guest

YVR

“other losers who spend their lives here bitching and moaning”

I assume you are referring to yourself?

Guest

Shut It Down Already (original)

Ah, the old “I know you are but what am I?”

Very clever.

Member

Bag it and tag it

Poorly played

Guest

Shut It Down Already (original)

You should probably defend the racists a few more times just to make it crystal clear what your position is.

Member

Best place on meth

Because that’s what they’ve become.

Liars, cheater, thieves, spies, and now as we can see from their barbaric behavior towards Hong Kongers here and their expressions of freedom, common thugs.

They are the worst people on earth.

Member

Bag it and tag it

haha…nice try. There was never a time when Chinese were thought of very highly in Vancouver…at best, people’s opinions of them were very neutral. That said, nobody tried to put them down either. Nobody would even think about saying anything that could be perceived of as being racist back then.

Guest

bullwhip29

Pro-Hong Kong students, pro-China students hold competing rallies at UBC
https://www.cbc.ca/news/canada/british-columbia/hong-kong-china-students-rallies-ubc-vancouver-1.5305762

Guest

Mike Pence’s Inauguration Tie

I’ll be right there!

Member

paulb

New
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http://www.clivestevepaul.com
http://www.instagram.com/clivestevepaul

Bubble? What Bubble?