Record construction with falling prices

Mo’ houses, mo money?

Canada Mortgage and Housing (CMHC) reported that Metro saw developers start construction on 28,141 new homes in 2019, up 20 per cent from 2018, with a substantial number of those, some 6,727, purpose-built rental units.

The CMHC report came out on the same day that Royal LePage released its latest house-price survey showing that aggregate home prices across the region declined 4.8 per cent in the fourth quarter of 2019 but in a market showing signs of recovering sales.

Read the full article here.

Sort by:   newest | oldest | most voted
Werner Stein
Guest
Werner Stein

“Please don’t do that. Do you want to get paid by Buttcoins? Where to make the deposit?’
“What a creep you are.”
“Get help.”
.
.
.

It’s hard to assess what kind of depravity is afflicting you potty mouths, but obviously you are mental and emotional cripples.
I tried to be civil and educate you and all I get in return is abusive and hurtful comments.
Sometimes I get the feeling you do not appreciate the knowledge I am imparting on you, possibly because of your lack of even the most elementary knowledge of economics.

Your ignorance of course can be excused, but your bad manners at your age is inexcusable.

Projection
Guest
Projection

You are one of the most ignorant people on this site.

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

They can’t even be original in their trolling.

Is my internet still canceled, fuckwit?

Bestplaceonearth
Guest
Bestplaceonearth

Internet policeman showed up at my place this evening. It turned out, didn’t he disconnect my internet, he invited me to extend my current contract for another year.

Dave
Member

Probably miss the triple today, but it’s going to a close call.

Projection
Guest
Projection
Posting this here again, because nobody has provided an answer and this proves the point I have been making for a long time. Ad Hoc wrote: “I have thought this for some time now: we will be back to 2013 prices in another year or so… that will likely be the bottom… probably around 2021 or 2022 then a long period of stagnation as inflation steadily eats away the the prices.” My reply: OK, let’s say that you are correct and prices will go down back to 2013 levels and that will be the bottom (nominally or inflation adjusted?). This blog started in 2006 (VHB in 2005). Telling people not to buy because a crash is coming. Circle jerking about a crash all this time. Was that the message all along: “wait 15 years so that you can buy at… Read more »
Bestplaceonearth
Guest
Bestplaceonearth

Had they known the answer, they wouldn’t be in the position they are now.
So, expect no answer.

Projection
Guest
Projection

It’s good to keep reminding them of their stupidity. I’ll post it again in the future.

southseacompany
Member
southseacompany

“Why Canada’s Consumers And Businesses Are Going Broke During ‘Good’ Times”, Huffington Post

https://www.huffingtonpost.ca/entry/insolvencies-canada-debt_ca_5e41bd65c5b6f1f57f16eb13

““What’s different than any other time before is interest rates. After the financial crisis in 2009, governments flooded their respective economies with money, interest rates went down to keep things moving, to keep the economy going. because money was so cheap, people racked up a lot of debt.””

“Canadians are now so vulnerable that a series of small interest rate hikes at the Bank of Canada in 2017 and 2018 is largely responsible for this increase in insolvencies”

Ad hoc
Guest
Ad hoc

The problem is the central banks still have a 20th century mentality in that they think we need growth at all costs but that’s not possible now that the baby boomers are near or in retirement. The new gens are not capable of spending like the boomers were post WW2 when the economy was practically growing on it’s own. Throw in globalization and there is no way growth can equal what we had 20 or 30 years ago because too much productivity has been moved overseas. Central banks want to keep the dream alive and so they “force” people to borrow up to their eyeballs to do it.

southseacompany
Member
southseacompany

“Canadian Insolvencies Rise To The Highest Level Since The Great Recession”, Better Dwelling

http://vancouvercondo.info/2020/02/record-construction-with-falling-prices.html

“Last year was a strangely large year for insolvency growth. Every single province is seeing growth, with half the provinces in the double digits. The country is now seeing the most insolvency filings since the Great Recession. Considering unemployment is near record lows, and a recession is believed to be far off, this is an unusual situation.”

Dave
Member

Double digit growth on a baseline of nothing is still nothing.

Best place on meth
Member
Best place on meth

Yes, it’s like comparing the improvement in condo sales compare to last year.

bestplaceonearth
Guest
bestplaceonearth

“I pleaded for clemency”

Internet scam too?

Werner Stein
Guest
Werner Stein

“What a creep you are.”

I pleaded for clemency for you but to no avail.
Not only is your internet connection cancelled, but your masturbation papers will be annulled as well.
Your official notice is in the mail.

bestplaceonearth
Guest
bestplaceonearth

Busted!

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

Get help.

Werner Stein
Guest
Werner Stein

“At least, me no live in mama basement. Bhahaha!”

You are in big trouble. I have a friend who is one of the bosses in the government.

He is very busy today, but has promised me to look into this situation tomorrow.
I think it will start with cutting off your internet. They can tell who you are by your IP address.

bestplaceonearth
Guest
bestplaceonearth

Please don’t do that. Do you want to get paid by Buttcoins? Where to make the deposit?

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

What a creep you are.

Hyper-mega-Bull
Member
Hyper-mega-Bull

china is a zombie apocalypse
https://streamable.com/w2163

Projection
Guest
Projection

Looks like Black Friday in the US.

Zombie
Guest
Zombie

No. Show me a Black Friday video of people crawling through a narrow opening to get into a shop.

Projection
Guest
Projection

I have seen Black Friday videos that are worse than that.

Hyper-mega-Bull
Member
Hyper-mega-Bull

the video looks exactly like zombies. there is no black friday video where people look exactly like zombies. there for it does not look like black friday.
“I have seen Black Friday videos that are worse than that.”
that’s nice. but what does that have to do with the price of tea in china (apparently there is a big sale this week).

Projection
Guest
Projection
Hyper-mega-Bull
Member
Hyper-mega-Bull

close but not quite. keep looking!

crawling is too human. we need hordes of bellies on the ground to evoke the inhuman monstrosities that are zombies.

Projection
Guest
Projection

You are full of shit.

Best place on meth
Member
Best place on meth

Can someone please remove the CHINA VIRUS from the forum?

It’s bad enough the blog has AIDS.

Bestplaceonearth
Guest
Bestplaceonearth

Might as well Remove all the loses !

Bestplaceonearth
Guest
Bestplaceonearth

The bug got busted, his true face was shown, but still moan. This guy can probably 25% of entry level home, so he calculated market would correct by 75%. Bhahaha!
I hope this bug does not infest the rest of “mater of communication” in his group to the basement level.
Try harder to save yourself from your own failure.

Ad hoc
Guest
Ad hoc

You really must be ESL (among other things) …

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

I think we can all guess how many languages you speak.

Ad hoc
Guest
Ad hoc

Okay. Please take a guess….

Bestplaceonearth
Guest
Bestplaceonearth

At least, me no live in mama basement. Bhahaha!

Ad hoc
Guest
Ad hoc

“Hellarious” !

bestplaceonearth
Guest
bestplaceonearth

You got it!

Werner Stein
Guest
Werner Stein

“The rise in growth is due entirely to mortgages”

However, the orangutans don’t see the connection with the eventual unwinding.
We tried.

southseacompany
Member
southseacompany

“B.C. stratas on edge after reports of soaring insurance premiums”, Vancouver Sun

https://vancouversun.com/news/local-news/b-c-stratas-on-edge-after-reports-of-soaring-insurance-premiums

“When residents of Anchor Pointe in New Westminster gathered for the strata’s annual meeting in December, they were stunned to learn their building’s insurance premiums were expected to increase by 40 per cent for 2020.”

DaMann
Member
DaMann

Haha. It gets better. It actually went up 300%!!! From $70k a year to $250k a year. Stratas are a joke. Now people will essentially have two mortgages. One for the purchase price every month and one just to pay strata fees. Surely this has to have a huge effect on the condo market. I was reading about a condo in Abby that had to clean out it’s contingency fund AND get every person to pay $1k just to be able to renew the insurance for that year. What happens in the next year? Wow.

Best place on meth
Member
Best place on meth

A lot of condos will be put up for sale.

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

Because there are so many potential buyers for one bedroom condos with $700 strata fees?

Bestplaceonearth
Guest
Bestplaceonearth

The mask was busted. Your agenda of bursting the bubble, of which nonexist, would never be materialized.
Move out of the lala land!

Werner Stein
Guest
Werner Stein

Credit growth can be a sign of economic expansion and good for the economy if the credit demand is coming from business who are expanding and investing in automation which boosts productivity.

Credit growth fueled by inflated housing bubbles is just debt and it is a harbinger of a consumption slump leading to stagnation.

A as a percent of GDP it has never been this high. When the US approached this close, the housing market collapsed. Not because of the subprime-that is another story.

https://tradingeconomics.com/canada/households-debt-to-gdp

southseacompany
Member
southseacompany

“The rise in growth is due entirely to mortgages, where the rate of growth is rising at the fastest pace since before the Great Recession.””

https://betterdwelling.com/canadian-mortgage-credit-growth-is-rapidly-accelerating-while-consumer-credit-slows/

paulb
Member

New
226
Price Change
41
Sold
122
TI:9611

http://www.clivestevepaul.com

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

LOL.

Dave
Member

When I make it guarantee, it comes true.

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

He’s ignoring you. Too funny.

Bestplaceonearth
Guest
Bestplaceonearth

Of which a nightmare for the bears.

southseacompany
Member
southseacompany

“It’s Officially Cheaper To Rent In Canada Than It Is To Buy” Toronto Storeys

https://torontostoreys.com/its-officially-cheaper-to-rent-in-canada-than-it-is-to-buy/

“According to a recent report from the National Bank of Canada, it is cheaper to rent in Canada than it is to buy for the first time in years.”

southseacompany
Member
southseacompany

“Canadian Mortgage Credit Growth Is Rapidly Accelerating, While Consumer Credit Slows”, Better Dwelling

https://betterdwelling.com/canadian-mortgage-credit-growth-is-rapidly-accelerating-while-consumer-credit-slows/

“Canadian households are in a rush to get more debt, but only for mortgages apparently. Bank of Canada (BoC) data shows household debt reached a new all-time high in December. In general, household credit growth is rising. However, the rise in growth is due entirely to mortgages, where the rate of growth is rising at the fastest pace since before the Great Recession.”

Bear Vancouverite
Member
Bear Vancouverite

Both Steve Saretsky and Ross Kay believe that you can get a good idea of housing price direction based on credit growth, so this is very bullish news.

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

Blame foreigners, tho.

Werner Stein
Guest
Werner Stein

World’s biggest housing bubble in descending order:

Munich
Toronto
Hong Kong
Amsterdam
Frankfurt
Vancouver

Most bulls will agree that the bubbles will burst, but only in the other cities, because ………….

Werner Stein
Guest
Werner Stein

https://mortgagecalculator.ca/News/Exposing-Rampant-Fraud-in-Mortgage-and-Real-Estate-Industries

I cannot remember if I posted this before, but I guess it does not hurt if I already did.

Ad hoc
Guest
Ad hoc

I was talking to a couple of real estate agents over the weekend and they said this Corona Virus thing is a major problem for the local R/E market. It hit right at Chinese New Year and will last through the spring market and it’ll decimate the sales this spring. They figure it’s going to be a disastrous sales year for them. BTW this was at two open houses over the weekend and both opens were empty.

Dave
Member

Doubtful… the market is looking strong. If the Chinese money is absent, then what until it comes back!

Best place on meth
Member
Best place on meth

This is what you call strong? 97 sales per day in February?

It looks strong only if you compare it to last year, the worst year ever.

Dave
Member

Another triple… and still under 10k… the plants are budding just like the expansion of credit. This market is just warming up like the inevitable march of weather and longer days.

Specuskeptic
Member
Another straw for the camel. https://www.cbc.ca/news/canada/british-columbia/b-c-lottery-corp-relents-after-9-year-battle-to-keep-money-laundering-records-secret-1.5456012?cmp=rss B.C. Lottery Corp. relents after 9-year battle to keep money laundering records secret Social Sharing Attorney general says release of documents to CBC ‘long overdue’ Paisley Woodward · CBC News · Posted: Feb 10, 2020 2:00 AM PT | Last Updated: 6 hours ago After fighting the CBC for nine years over the release of money laundering records, the B.C. Lottery Corporation is finally relenting. After three trips to court, a full hearing before B.C.’s information and privacy commission, and another hearing coming up, the lottery corporation now plans to go to court to get permission to release the documents to the CBC. The records relate to reasons why Canada’s money laundering watchdog, FINTRAC, imposed its largest ever fine — $695,750 — on a provincial gaming corporation in 2010. Access delayed is access denied… Read more »
Ad hoc
Guest
Ad hoc

“B.C. casinos ‘unwittingly served as laundromats’ for proceeds of crime: report”

I’ll bet (pun) it wasn’t “unwittingly”… the casinos knew what was going on but turned a blind eye to it.

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

No worries..all ist gut..

NDPeePoo ……via Eby and KKKeg waiter will phyx ICBC dumpster fire….

………don’t worry re: details..
……..you stoopid plebs…..or else SIDA will____!!!!!…..well ….you know…

Best place on meth
Member
Best place on meth

Here we are 37 months into the Trump presidency with 11 months to go in his first term. How does he compare to Obama once the public finally shake off the media spin and decide for themselves?

https://cdn.statcdn.com/Infographic/images/normal/19541.jpeg

Yup, one president was constantly praised by a lying media and the other was constantly denigrated by a lying media.

It takes time to sort through the lies, smears, innuendo, gossip, gas-lighting, race baiting and name calling by the usual suspects but the voters have now figured out what’s what.

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

Why not post a real link?

Best place on meth
Member
Best place on meth

This is how the chinese barbarians will be treating us in our own country if they ever get the upper hand.

https://twitter.com/K24Tv/status/1226159581832851456

Next time they bitch about hurt feelings and racist undertones, you know what to tell them.