It’s that time again, let’s refresh with a new open topic thread!
Friday Free-for-all time!
So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below!
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First Canadian fatality in North Vancouver
US Fed will cut rates to 0.25%-0.5% next week. How soon will the BoC follow?
a smaller cut next week isn’t even on the table now. i am betting 75-100bps plus other action will be put forward
this is all assuming we even get to next week…
So we are in agreement. 🙂
Will BoC follow Fed right away or will they choose to wait?
“‘This is basically panic selling’: Stock markets plunge as coronavirus fear spreads”, CBC
https://www.cbc.ca/news/business/markets-stocks-oil-1.5490697
“Oil prices fall as much as 30 per cent; Stock markets halted and bond yields plunge”
“The panic started on Sunday evening after Saudi Arabia kicked off an all-out price war in the oil market, announcing it would be removing any production caps. That move sent the price of crude crumbling more than 25 per cent, and came on top of existing fears over the coronavirus currently spreading around the world.”
panic selling => opportunity
this isn’t the bottom. the 2020 financial crisis only kicked in for real this morning. most ma and pa’s have no idea what has happened to their investments in the last 13 days (yeah, that’s it….)
market could drop by 50% from all time high and still be up 200% from the 2009 low
I didn’t say this was the bottom. There are always people trying to catch a falling knife and a lot of people who miss the bottom once it sets in.
Big opportunities coming.
Oil companies will be a great investment. Soon.
Is your first name “Clown”?
People are dying, but the Clown says “Big opportunities coming.”
No need to look for a bottom. You’re already there.
“Ma and pa” investors don’t control the market.
They’ve gone full retard.
Where is this, Richmond?
“US stocks halted after falling 7%. Global stocks plunge as oil crashes and coronavirus fear spreads”< CNN
https://www.cnn.com/2020/03/08/investing/stock-dow-futures-coronavirus/index.html
"Global markets are plunging after the implosion of an alliance between OPEC and Russia caused the worst one-day crash in crude prices in nearly 30 years, fueling panic triggered by the escalation of the coronavirus epidemic."
"The New York Stock Exchange halted trading for 15 minutes after stocks plunged more than 7%."
There no point in being gracious with some of the goons.
When I use the qualifier “lesser goon” it is a compliment, given that the designation puts the goons at a “lesser” value point on the negative scale.
No amount of commenting on this blog will fix your fuck up. 15 years is a very long time to be wrong.
One of the big morons wrote:
“Ask leader of the goons, pumper, Dave, Blake or whatever.”
Thank you, moron!
Anybody care to provide an opinion that isn’t worthless?
One of the lesser goons asks:
“How long until the next rate cut? How much will they cut? Any guesses?”
Ask leader of the goons, pumper, Dave, Blake or whatever.
He has Theresa Caputo like powers.
How long until the next rate cut? How much will they cut? Any guesses?
Ottawa is co-ordinating a national effort to secure personal protective gear — which includes items such as face masks — amid the COVID-19 outbreak
https://globalnews.ca/news/6647859/feds-bulk-buy-coronavirus-outbreak/
“We are already leading a bulk procurement of personal protective equipment in which many of you are participating. We are ready to convene and help.”
On Sunday, a letter was issued from Fraser Health to the Sullivan Heights Secondary School community after someone was confirmed to have the novel coronavirus, now known as COVID-19
https://bc.ctvnews.ca/2-surrey-b-c-schools-in-session-after-covid-19-alerts-issued-1.4844735
students and staff were told “the risk to the school population is minimal,” and the school is set to be open on Monday
From being ostracised by the international community as the centre of the deadly coronavirus outbreak, China is seeking to reframe itself as a global expert that can help hard-hit regions battle the disease
https://www.richmond-news.com/news/asia-pacific-news/china-seeks-to-recast-itself-from-virus-pariah-to-helping-hand-1.24090866
Crude oil futures down 26% to $30
Dow futures down 1200 points.
Buckle your seat-belts, this is uncharted territory.
Oil at $27.
Alberta about to become a wasteland. Cheap houses coming there. Might just move there….
CKNW has a show on right now pumping housing because of low interest rates. Idiots.
If stocks fall a few thousand points tomorow and margins are called and Oil stays down, the new age will dawn.
Air travel could collapse and that would collapse the HAM coming into Vancouver to buy tree houses.
these fake markets appear to be headed for bear market territory after hitting all time highs 13 trading sessions ago
wait til the average joes out there figure out that this whole everything bubble was just one massive Enron and that maybe stories of duck farmers who turned into multi-billionaires overnight were too good to be true…
correct, this is one the history books and maybe only comparable to 1929. for those fortunate enough to have parachutes, it is time to unbuckle seat belts, gather your belonging and jump out of the plane
unless of course, you think trump and pence will be able to bring this POS down safely and tweet their way around Great Depression 2.0 and all that good stuff…LOL
GLTA…
Pence? LOL.
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The capitalist system’s main objective is to provide the greatest amount of goods, for the greatest number of people.
It has been successful because it has been able to reduce the cost of goods through efficiency and innovation thereby increasing consumer purchasing power to allow for more than the bare necessities of life such as food and shelter.
The greater the excess beyond the need for the basics, the more consumer spending, hence a thriving consumer economy.
As with most systems, there are some flaws, and occasionally the components destabilize and intervention is required.
The intervention sometimes will cause some misallocation of resources.
One of the unintended results is a housing bubble, which can last for years before it bursts, but burst it will.
“Do we really expect Canadian households to bail out the economy again?” Maclean’s
“This past week Bank of Canada Governor Stephen Poloz released his script for saving the economy from coronavirus, and like a tired trilogy that keeps rehashing the same exhausted plot line, households are expected to play the role of economy-savers for the third time in 12 years.
But if we’ve learned anything from the first two instalments of this gruelling spectacle, it’s that they always seem to end with a glaringly obvious twist — out of control house prices and dangerously over-extended households.’
Why the US economy is now near-impossible to stimulate
https://nypost.com/2020/03/08/why-the-us-economy-is-now-near-impossible-to-stimulate/
Same story across the line….
“If people want to blame anyone for the FOMO and frenzy that just started, I suggest calling the NDP”
The politicians are astute.
None of them want to appear in an editorial cartoon holding a pin in their hand following the bursting of the bubble.
It will pop on its own, any tinkering actually prolongs the timing.
China may soon lift the quarantine imposed on the province at the epicentre of the coronavirus outbreak which has been under lockdown for more than a month, a senior government official hinted Friday
https://www.richmond-news.com/news/asia-pacific-news/china-may-soon-lift-quarantine-on-virus-hit-hubei-province-official-1.24091952
>>> yeah, right…
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Resolved cases:
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For people who don’t know how to Google.
I don’t know if open houses were busy today but supermarkets certainly were.
A few empty shelves where staples used to be and shoppers were noticeably a bit edgier than usual.
2 new infections in Lynn valley n. van nursing home.I hope truedope in going to reconsider banning flights from affected countries,now that this thing has hold HERE!
The only thing that will bring down Van RE is the virus.
Word is that it’s biphasic. If that’s the case, game over. The virus never leaves your body. Hence the “reinfections” happening.
Writing that word alongside Coronavirus gets you banned on twitter.
That’s not what got you banned from Twitter.
Why don’t you tell your fellow countrymen to stop fucking eating anything that crawls. And to cook anything that is meat?
This barbaric behaviour has cost thousands of lives. And if you don’t think there is going to be a pushback against the Chinese community in the western world, you are in for a surprise.
Top Harvard scientists today said containment of this disease is impossible now.
I guess that’s a bit closer to what got you banned. Still not quite there yet, though.
There is a chance that an overreaction to the virus could temporarily freeze the market.
The market can handle a freeze. It would bounce back in no time once it all blows over.
Pent up demand. Even bigger than after 2019.
So the house pumping and race baiting trolls on VCI would also be biphasic.
You learn something new every day.
sounds like bull shit
What’s more probable? Made in China doctors administering made in China tests give bad results or the virus has been biphasic this whole time and we are just realizing that now.
all of the above
Vancouver home sale price growth per decade:
1960s 84.96%
1970s 312.92%
1980s 130.44%
1990s 28.33%
2000s 95.22%
2010s 73.24% *
Calculated as % difference between 1970 average sale price and 1960 average sale price etc. for each decade.
(* 2020 value missing; 2019 used)
Question for clarity: Is this in real dollars, taking into account inflation?
Nominal prices. The only thing that matters for mortgage holders and for savers who are saving for a downpayment.
I never said it didn’t.
You appear not capable of answering a question without projecting.
Your name fits.
Stop being a self centered oversensitive moron.
I simply added more info. Wasn’t implying anything about you.
B.C. declares COVID-19 outbreak.
6 new cases announced
https://globalnews.ca/news/6645114/coronavirus-bc-cases-update-march-7/
Outbreak in a nursing home.
We’ve gone full Seattle.
‘Once-hot housing markets ‘back to normal’: Poloz”, BNN
Good to know we’re back to normal. Thanks, Candyman.
Douglas Todd: Housing bubbles bursting in Metro Vancouver’s investor-driven neighbourhoods
I wonder if it has anything to do with this:
Terms of reference:
The terms of reference of the commission are to conduct hearings and make findings of fact respecting money laundering in British Columbia, including the following:
real estate;
https://www.cullencommission.ca/tor/
“The veteran realtor maintains Victoria’s “artificial measures” are hurting the detached luxury housing market in West Van, where she says many investors from Asia, specifically China, had been busily buying properties and, to fit their trans-Pacific lifestyle, leaving them empty for much of the year.”
Looks like the various taxes are working judging fby the whining of Nicole the china loving realtor. Just to be sure though we should triple all the new taxes and put her out of business completely.
From Nicole Lee’s website: If you are a Local Seller and you would like to make your home attractive to Chinese Buyers, Nicole is able to double your home’s exposure by marketing to this cultural group in addition to the local market. By attracting more potential buyers from both groups, more offers are generated to ultimately sell your home for top dollar. Nicole’s ability to bilingually communicate with both groups as they tour your home ensures your home is properly marketed to numerous buyer target groups. If you are a Local buyer and you are up against other Chinese Buyers on a property, her experience helps you compete in multiple offer situations. If the Seller of the house you want to buy is Chinese, having that cultural understanding is truly an asset. “I have a deep understanding of what appeals… Read more »