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Projection
Guest
Projection

What are the GDP impact estimates of this virus panic? I have seen -10% to -20% with public debt going up by 50%. Depending on how long this will keep going.

Oracle
Guest
Oracle

Trudeau allowing non residents to fly in from international hotspots.

He has instructed his immigration department to issue more letter granting permanent residency to immigrant hopefuls overseas. Over 1000 per day. The foreigners magically became Permanent Residents overnight.

Canadians probably too dumb to see what’s going on.

The last Conservative
Guest
The last Conservative

Turd just shut down travel a day ago, Trump did it weeks ago but the genius on here says Trump is the criminally negligent one while he praises the chi-com ass kidding Trudeau

Oracle
Guest
Oracle

Wrong. 1000 people a day are granted permanent residency overseas every day. They can come. Plus their families.

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

False.

The last Conservative
Guest
The last Conservative

I was referring to Shut it down not you.
But if you’re right that makes turd look even worse

Oracle
Guest
Oracle

Sorry man.

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

It goes far beyond whether or not travel is permitted.

I’d say outright denying the problem while calling it a “hoax” and “just flu” is a ridiculous position for a US president to take in light of the guidance coming from the WHO. As pointed out earlier the US has also not been testing people in volumes anywhere close to that or other countries, again out of ignorance and stubbornness – remember cases were meant to go from 15 to ZERO. And now he’s saying that the buck doesn’t stop with him, yet he still deserves a 10/10 rating for his performance.

What an utter fool. No wonder he’s the most unpopular president in modern history (who now owns the biggest Dow drops in history).

The last Conservative
Guest
The last Conservative
He never called it a hoax. Stop lying. He’s the most popular republican president ever with an unheard of 95% approval rating among republicans. Have you seen the stunning record smashing vote results for him in the primaries? He’s annihilating incumbent vote records by either republican or Democrat president despite overwhelming negative media coverage. He gets over 100000 RSVP’s for rallies and has 20-30 thousand show up everywhere he goes. No one else can do that. Regarding testing, do you know B.C health authorities are advising to not get tested? Did you not hear Dr Fauci explain that the system was not engineered for mass testing? That is what Trump won’t take any blame for. And why should he? He didn’t build the damn thing. It’s common sense just like any seasonal flu. If you feel under the weather, isolate… Read more »
Shut It Down Already (original)
Guest
Shut It Down Already (original)

He’s popular among those who’ve shown their support by remaining as members of the party rather than walking away in disgust?

Shocking, LOL.

The polls that matter all show the same thing – that he’s failed to poll above 50% outside the margin of error even once. Not one poll. Not one day. In his entire term to date.

Sad!

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

And you have a source for this, naturally.

KopyrightKlepto
Member
KopyrightKlepto

So with my interest rate dropping to 2% tomorrow, the income of my basement suite rental is now larger than my interest payment for the whole house.

bullwhip29
Guest
bullwhip29

sorry, I have to chime in one last time…

you don’t get it and are missing the big picture entirely. once a full lock down is in effect the real estate market will seize up entirely for likely the remainder of the year (best case) and property values will go no bid

in other news, your tenant is king or queen of the world now as it pertains to your rental unit. you will be left holding the bag if he/she either can’t or doesn’t want to pay current rent going forward. the NDP govt will also have their backs on this.

KopyrightKlepto
Member
KopyrightKlepto

I’m not selling, nor will anyone else. No one will be forced to sell, and the government has already promised mortgage payment deferrals to those who need it.

Yes, sales will come to a standstill, and prices may drop (and likely much less than the stock market in the past few weeks), but there will be no selection or inventory available to buy. Definitely, not a liquid market, as no one is buying *or* selling while in lockdown mode.

Like me, my tenants continue to work and are paid during this lockdown. If they did have some issue, and needed a rent deferral, we would work it out. That’s not holding the bag, that’s being human.

OTOH, I’m very glad not to be living in a Condo right now.

Oracle
Guest
Oracle

Yes. Many homeowners have hit the lifetime lotto jackpot due to suite rent prices. Massive immigration does that.

Oracle
Guest
Oracle

And taxing rental income in the large cities is off limits. He would face a massive backlash from Indians and Chinese.

KopyrightKlepto
Member
KopyrightKlepto

Not sure what you mean. Rental income is taxable, but costs including interest payment are deductible (making it a wash).

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

He’s implying that they turn a blind eye to foreign tax evasion, as part of his campaign of stoking racial tensions and hatred.

It’s obvious and boring.

southseacompany
Member
southseacompany

“Ottawa to buy up to $50-billion in mortgages in move that harkens back to the crisis of 2008”, Financial Post

https://business.financialpost.com/real-estate/ottawa-to-buy-up-to-50-billion-in-mortgages-in-move-that-harkens-back-to-2008

“In response to the COVID-19 virus pandemic, the federal government said Monday that it is preparing to buy up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC).”

xhistory
Guest
xhistory

https://www.smithsonianmag.com/science-nature/60-mammoths-house-russia-180974426/

“The purpose of such an elaborate structure remains a big open question”

Turn the mammoths around, as a means to re-orientate. An early version of a railway turntable.

xhistory
Guest
xhistory

https://movieweb.com/sonic-the-hedgehog-video-game-movies-box-office/

Sonic Beats Detective Pikachu as the Biggest Video Game Movie at the U.S. Box Office

xhistory
Guest
xhistory

https://www.markoldman.com/art-basel-banana-mark-oldman/

But, eh, you are dee banana guy, no?”

Oracle
Guest
Oracle

There you have it!

Trump called it a “Chinese Virus” and rightfully so.

The Wuhan virus originated either in a weapons lab or Chinese eating raw critters. And they’ve doomed the world.

That country needs to apologize or better yet, their diaspora needs to force them to do it and change their ways.

And Trudeau better get his act together. Trump has had it with him. Time for being nice is over.

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

Just another dog whistler to his dumbass supporters. He knows that his re-election chances are dropping by the day.

The Last Conservative
Guest
The Last Conservative

Dog Whistle? You are the dumbest fucktard on this
site. Here’s the MSM calling it EXACTLY as Trump did.

Tell me genius, Are they dog whistling too?

https://www.youtube.com/watch?v=4LT_up3ltqo

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

Context matters, idiot.

The Last Conservative
Guest
The Last Conservative

Bullshit. That video just owned you and the rest
of you dummies on the left.
Nice try though.

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

Isn’t it funny how you came bounding over at the mention of a dog whistle?

Do you want the ball? Do you want the ball? Go get the ball!

The last Conservative
Guest
The last Conservative

No after your first horseshit post about trump calling it a hoax I called you out on your next horseshit post about racist dog whistling.

One can only take so much of your fucking lies asshole.

Oracle
Guest
Oracle

And note Horgan wants to close the order to the Americans in his tweet.

Fucking Commie does t even mention that 4-5 flights come in from China each day. Fuck the NDP

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

The US is in the exponential growth phase, whereas China has all but recovered. Closing the border to the US makes perfect sense given that it was only a few days ago that a certain moron – who still refuses to acknowledge that the buck stops with him – was calling this a Democrat hoax, and “just flu”. Almost criminal negligence.

Oracle
Guest
Oracle

Quiet! Who said you can talk?

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

That’s literally the only counter argument you have. Sad.

Why not go back to Twitter? Oh wait.

Oracle
Guest
Oracle

Shut up you Chinese asshole.

Best place on meth
Member
Best place on meth

The U.S. State Department summoned the Chinese ambassador to the United States on Friday to protest against comments by Beijing suggesting the U.S. military might have brought the coronavirus to Wuhan, as tensions between the two global powers over the outbreak intensified.

https://nationalpost.com/news/world/u-s-summons-chinese-ambassador-in-protest-of-beijings-coronavirus-comments

xhistory
Guest
xhistory
https://www.narcity.com/news/ca/royal-canadian-mint-instagram-spoofs-viral-banana-art-and-says-its-worth-more-photo The Canadian Mint Made A Spoof Of The Viral Banana Art & Says It’s Worth Even More the art world was rocked by a piece known as “Comedian” by Maurizio Cattelan. The artwork was nothing more than a banana duct-taped to a wall. It sold for $120,000. The sale of the artwork drew plenty of disbelief and commentary. Even the Royal Canadian Mint’s Instagram account had something to say about it. A new photo by the nation’s Mint, which was posted on December 9, depicts the simple yellow fruit taped to a blank white wall (although with scotch tape instead of duct tape). Also taped to the banana is a single toonie, which they say makes it worth $2 more. “$120,002 #bananaart” the caption simply reads. It’s a pretty cute and totally Canadian way to poke fun at the… Read more »
Best place on meth
Member
Best place on meth

182,598
+13,046

7171
+655

Global death rate from RESOLVED cases 9.0%, up from 7.7%

Italian death rate from RESOLVED cases 44.0%, up from 43.6%

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

Because you think people can’t simply visit the same website you’re pulling this from?

But so long as you feel important….

Best place on meth
Member
Best place on meth

From Saretsky:

In other news, Canadian policy makers are busy making moves of their own. Not only did the Bank of Canada cut interest rates by 50bps, with at least another 50bps expected this week, we had OSFI, the Canadian Bank regulator, unleash an additional $300B in lending capacity. OSFI lowered the domestic stability buffer requirement for Canada’s key banks to 1% of risk-weighted assets from the 2.25% level set for the end of April. In simpler terms, this is a move to encourage banks to continue lending. However, given the outlook, they’ll probably need some more nudging to keep the mortgage wheel churning. Already, we are seeing both fixed and variable rate mortgage rates moving higher, despite interest rates falling. Call it funding issues, call it a risk premium, either way it’s concerning news.

Best place on meth
Member
Best place on meth

Meanwhile, OSFI also announced the amendments to the mortgage stress test have been put on hold. In other words, the stress test is staying as is, there are much more urgent problems to be dealt with. Given the recent events, we should probably be thankful there is a stress test in place.

Job layoffs are en route, and unfortunately no amount of stimulus will be able to prevent that. That puts Canadian households in a tough position. CMHC is already working with lenders, announcing tentative plans to work with lenders to allow mortgage payment deferral of up to 6 months. This will be for insured mortgages only. CMHC president Evan Siddall mentioned to me that they are “exploring what is possible for uninsured homeowners and renters.”

xyz
Guest
xyz

Probably still incoming flights with people from hot spots?

SCREENING???

Some passengers have been complaining about what they consider a lack of information about COVID-19 upon their arrival to the airport. Olympian Clara Hughes and Port Coquitlam Mayor Brad West have also called out the airport, saying it isn’t doing enough to limit the spread of the virus.

https://www.citynews1130.com/2020/03/16/yvr-screening-criticism-coronavirus/

Best place on meth
Member
Best place on meth

“On Friday, Prime Minister Justin Trudeau indicated further screening measures were about to be implemented at all international airports in Canada, including limiting the number of airports allowed to accept international flights.”

Our leadership is constantly behind.

xyz
Guest
xyz

Thanks….I should have known our PM was ahead of the curve. Excuse my presumption.

Best place on meth
Member
Best place on meth
Shut It Down Already (original)
Guest
Shut It Down Already (original)

Trump Hotel is open for business and bed bugs!

Projection
Guest
Projection

10 SHF sales in the city of Vancouver today. 4 above asking, 4 below, 2 at asking.

Best place on meth
Member
Best place on meth

Trudeau finally restricts travel from china a month after Trump did.

Great, no more tourists from Wuhan but the genie is already out of the bottle.

paulb
Member

New
297
Price Change
64
Sold
115
TI:10564

http://www.clivestevepaul.com

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

LOL.

Oracle
Guest
Oracle

Heading the condo market is about to crash. Rich Chinese kids don’t want to live in the stationary cruise ships anymore.

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

What about all the places you bought in the valley? It’s on fire!

Oracle
Guest
Oracle

Did I say you can talk?

Quiet. Or no RAW Frog eyeballs and intestines for you!

If I were you, I’d be running a PR campaign for the Chinese. Cause if this drags on, expect a hugeeee backlash from locals.

Worry about it cause it’s here. So I would try to be nice to people like the Stein and BPOMs here.

The valley RE market has been stopped in its tracks this week.

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

You’re a fucking idiot. No doubt about it.

Oracle
Guest
Oracle

I said Quiet!

You no Anglish?

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

Just another failed fishing expedition.

How sad.

Oracle
Guest
Oracle

Quiet! All you can say is “I buy tree”

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

Yes, that is all I can say as evidenced by this very sentence.

Clown.

southseacompany
Member
southseacompany

“Mortgage Rates Rising at Fastest Pace in Years”< Mortgage News Daily (March 11, 2020)

http://www.mortgagenewsdaily.com/consumer_rates/938445.aspx

"Mortgage rates continued a relentless surge higher today. The move began in earnest yesterday for two key reasons: bond market panic and mortgage market over-supply. If you take nothing else away from the following, the important part to understand is that rates are absolutely significantly higher than they were this morning, yesterday, and on Monday morning. The pace of that move has been the fastest since the 2 days following the 2016 presidential election, and one of only a handful of 2-day periods with more than a 3/8ths bump to the conventional 30yr fixed rate. "

Projection
Guest
Projection

Temporary bump, in the *US*.

Oracle
Guest
Oracle

Check out the insider trading on Air Canada stock. Trudeau leaking info to friends.

Banana Republic.

Projection
Guest
Projection

Why do you think this is due to some secret info? Other airline stocks are going down too. Quick comparison of charts AC vs UAL – they seem to be quite in sync: https://i.imgur.com/vC9PWks.png

Oracle
Guest
Oracle

What a dummy you are. Do you even know what intraday moves are? STFU you moron. Why you trying to be an expert in everything. It’s laughable.

Projection
Guest
Projection

Take a pill and relax.

Projection
Guest
Projection

This will probably trigger some people, but I just did a quick check of the sales reported so far today – sales closed during previous week – and I see some SFHs going over asking. That was *after* the stock market crash.

Just reporting what I see. I still expect a slowdown.

Big Bear
Guest
Big Bear

Can you post MLS numbers please?

Projection
Guest
Projection

Sure, keep in mind that the data is from the beginning of the first day of the week, so there not many sales reported yet in general. For ex. only 3 SFH sales in Vancouver reported this morning. Two of them were above asking: R2440685 and R2439625

southseacompany
Member
southseacompany

“Why Are Some Mortgage Rates Rising?”, Canada Mortgage Trends
https://www.canadianmortgagetrends.com/2020/03/mortgage-rates-rising/

“Fears over the COVID-19 pandemic and plummeting oil prices have caused mortgage rates to plummet to multi-year lows over the past couple of weeks. But now some lenders are actually starting to raise rates.”

“Fixed rates on certain terms have been creeping back up, while some of the big banks have been quietly cutting their discounts on prime rate (which affects floating rates).”

“So, what’s going on? Fear has saturated the market to the extent that lenders are now concerned about liquidity and rising defaults, according to observers.”

realist
Member
realist

Banks can make (or lose) money at high interest rates and at low interest rates. Their profit (or loss) comes from net interest margin (NIM). ZIRP constrains their ability to widen their NIM, other by increasing rates to borrowers. Interest rates can move in counter-intuitive ways. An economic contraction with central banks at or below ZIRP does not necessarily mandate all borrowing costs to fall. Economic history shows that real interest rates in longer dated issues go up in a post-bubble contraction (as per the excellent work of Vancouver’s Bob Hoye).

Werner Stein
Guest
Werner Stein

bullwhip29:
“easy now…even he is about to realize that he isn’t as smart as he thought he was.”
Got it.

But it still needs to be pointed out to the remaining two goons that low interest rates alone are not going to renew that RE lotto ticket with an expiry date. And the next 15 years are not going to be like the last.

Even the one with some math skills will not understand that the virus merely turbo charged the events.

I will not bother explaining to them again and again the mechanics of how you cannot make gold out of iron.

As for the other goon, he will still mistakenly think that the Angela Calla show can be used as credits toward an economics degree.

southseacompany
Member
southseacompany

“How Coronavirus Can Bring Down Zombie Companies — and the Economy”, The New York Times

https://www.nytimes.com/2020/03/16/opinion/coronavirus-economy-debt.html

“Though the Federal Reserve moved over the weekend to slash rates and buy treasuries, markets around the world fell on Monday anyway. The coronavirus threatens to set off financial contagion in a world economy with very different vulnerabilities than on the eve of the global financial crisis, 12 years ago.”

“Around 1980, the world’s debts started rising fast as interest rates began falling and financial deregulation made it easier to lend. Debt tripled to a historic peak of more than three times the size of the global economy on the eve of 2008 crisis. Debt fell that year, but record low interest rates soon fueled a new run of borrowing.”

southseacompany
Member
southseacompany

“Coronavirus devastates China’s economy and the ‘nightmare’ is not over’, CNN

https://www.cnn.com/2020/03/16/economy/china-economy-coronavirus/index.html

“hina’s economy was devastated by the novel coronavirus outbreak in the first two months of the year, according to data published Monday, and analysts say the nightmare is far from over.”

Best place on meth
Member
Best place on meth

They’re still going to report 5.5% GDP growth for the first quarter, because it’s china.

southseacompany
Member
southseacompany

“Wall Street stocks plunge 10% despite sweeping Fed intervention”, Financial Times, Monday 16th

https://www.ft.com/content/82c5c2ca-670e-11ea-800d-da70cff6e4d3

“US stocks plunged 10 per cent on Monday after sweeping central bank intervention failed to prop up investors’ confidence or staunch the wave of volatility that has shaken global markets.”

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

Are markets also starting to price in Trump losing the election?

bullwhip29
Guest
bullwhip29

as one final example of how the powers that be will turn the tables on the public, I am betting the Trump administration will somehow manage to postpone or cancel the election. people need to think more outside the box now. measures that were deemed far fetched or completely absurd not that long ago are all on the table now.

Projection
Guest
Projection

Don’t forget that physical cash is dirty. Only money launderers and virus spreaders use it. Be a good citizen and do all your transactions electronically.

realist
Member
realist

Modern Canadian banknotes are washable . Don’t take my word for it – do the experiment by handwashing a fiver in cold to lukewarm water, then let them air dry at room temp, as they don’t tolerate heat so well. Cleaned banknotes are safer than using credit cards when they cannot be swiped.

realist
Member
realist

meant to add: “cold to lukewarm water with detergent”