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[…] IMF chief says pandemic will unleash the worst recession since the Great Depression. […]

southseacompany
Member
southseacompany

“IMF chief says pandemic will unleash worst recession since Great Depression”, Reuters

https://www.reuters.com/article/us-health-coronavirus-imf/imf-chief-says-pandemic-will-unleash-worst-recession-since-great-depression-idUSKCN21R1SM

“The pandemic sweeping the world will turn global economic growth “sharply negative” in 2020, triggering the worst fallout since the 1930s Great Depression, with only a partial recovery seen in 2021, the head of the International Monetary Fund said.”

“If the pandemic faded in the second half of the year, the IMF expected a partial recovery in 2021, Georgieva said, but she warned the situation could also get worse.”

bullwhip29
Guest
bullwhip29

A little over a week after announcing help was on the way for B.C.’s renters, the application is now available online. As of Thursday, anyone who’s lost income due to COVID-19 can now apply online to receive the monthly supplement. For now, it’s being made available for April, May and June. Households with no dependants can apply for $300 a month, or $500 with dependents https://bc.ctvnews.ca/here-s-how-to-apply-for-b-c-s-rent-supplement-of-300-to-500-a-month-1.4890452 >>> so, it would appear this renter’s rebate was not as advertised. much like signage many retailers use during sales promos, the “up to” portion of the text was in ultra-tiny print as was a list of other conditions and restrictions that will disqualify many renters. virtually everyone I have talked to about was of the belief that rebates of $500 per renter would be made available without too many hoops to jump through… Read more »

CNA Must Pay
Guest
CNA Must Pay

The renter must also have a 2019 income of less than $74,150 for households with no dependents and $113,040 for households with dependents, and must be paying more than 30 per cent of current or reduced gross monthly income towards rent.

there’s a lot of restrictions based on income as well. Higher income earners get penalized for being higher income earners. This is not very equitable.

Werner Stein
Guest
Werner Stein

“if things continue to unfold as is and the powers that implement new and ingenious ways to kick the can down the road even further, i suspect payments upon renewal may actually be lower”
Frustrating I know.

They can kick it down the road to a point.

But it is only delaying the inevitable. If there were no consequences to massive deficits and ballooning central bank balance sheets, banana republics could simply elevate themselves out of poverty by simply printing more money.

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

It’s almost like you just stepped out of a time machine from 2010.

bullwhip29
Guest
bullwhip29

Canadian Tire donates 160K masks to local health-care workers after criticism about in-store sales
https://bc.ctvnews.ca/canadian-tire-donates-160k-masks-to-local-health-care-workers-after-criticism-about-in-store-sales-1.4890011

>>> at a minimum these individual franchise owners should be faced with fines well in excess of the revenues generated from their blatant and deliberate profiteering endeavours and repeat offenders should have their business licenses suspended. it is total bs that these sleazeballs get what amounts to a free pass just because they operate under a recognized corporate banner.

Werner Stein
Guest
Werner Stein

Frustrated Canadians looking for mortgage deferrals from big banks facing delays, denials

https://www.cbc.ca/news/business/banks-rbc-bmo-td-mortgage-credit-coronavirus-covid19-1.5503478

Everything is just fine.
Only a couple weeks into this, and 500,000 mortgage slaves already in trouble, begging .

bullwhip29
Guest
bullwhip29

hardly the case now…article is out of date. mortgage deferrals are auto-approved now (without having to prove you have been affected by COVID-19 in any way) and applications can be submitted online in minutes without having to wait on hold to talk to someone. to add insult to injury, bank clients can actually also opt to defer HELOC and credit card payments in addition to mortgage payments all at the same time.

translation: millions of canadians will be paid by the govt(s) to post content to their social media accounts at home (or maybe walk the seawall) for the next few months without the worry of paying their mortgage, HELOC, visa, utilities, insurance, income tax, property tax etc

CNA Must Pay
Guest
CNA Must Pay

As the interest accrues it means more profit for the banks and ultimately, less money in the debt slaves pockets. When the mortgage term is renewed, this accrued interest and deferred principal will be included in the outstanding balance resulting in higher mortgage payments.

bullwhip29
Guest
bullwhip29

absolutely correct. in the short to medium term, however, the financial noose is loosened which will result in many forced liquidations to be shelved until next and year and beyond. if things continue to unfold as is and the powers that implement new and ingenious ways to kick the can down the road even further, i suspect payments upon renewal may actually be lower

CNA Must Pay
Guest
CNA Must Pay

and also… no mortgage deferrals are available for “investment” properties. And no mortgage deferrals offered from 2nd or 3rd tier lenders.

bullwhip29
Guest
bullwhip29

INCORRECT: no mortgage deferrals are available for “investment” properties

>>> bank clients simply check off boxes for as many mortgages, HELOCS, loans, credit card accounts etc as they want to defer (regardless of purpose) and press submit. auto-approved in 24-48 hrs. proof of financial hardship due to covid-19 not required. as you said the banks are not waiving payments but rather deferring them so it makes no difference to them

CNA Must Pay
Guest
CNA Must Pay

okay thanks.
TD says deferrals are on a “case by case basis” so there may be some flexibility there …

bullwhip29
Guest
bullwhip29

TD appears to be doing same as other banks
https://www.td.com/ca/en/personal-banking/covid-19/financial-relief/

basically log in to account, check off a few boxes, then submit

you think they have enough staff and man hours to “underwrite” these applications? there is no decision making here as the banks stand to lose nothing in the process.

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

They’ll have automated systems which will help them quantify risk. It’s not the 1800s any more.

southseacompany
Member
southseacompany

“Canadian real estate markets hit hard by pandemic”, CBC

https://www.cbc.ca/news/canada/british-columbia/canadian-real-estate-markets-hit-hard-by-pandemic-1.5525681

“Greater Vancouver’s real estate board, for example, released figures showing sales for the month overall were up 46 per cent compared to last March. But by the end of the month, weekly statistics showed a dramatic slowdown, falling by about half compared to the first part of the month. Hutchison thinks April “is just going to fall off a cliff.””

“Hutchison is worried values will fall along with the number of transactions. We don’t know where prices are going to go. I mean, why would you buy something now if you perceive prices are going to go down in the future, which may very well be.””

bullwhip29
Guest
bullwhip29

yes, sales volumes going to zero. distressed owners that no longer have to make mortgage payments will cancel listings. not great news for realtors…but, but wait…they will be made whole by the various govt programs too. isn’t life great?

Werner Stein
Guest
Werner Stein

“Global trade migration is not likely to go back to the old model. International movement won’t press a ‘resume’ button any time soon. Shoppers, diners and tourists may choose to stay away from each other for a while,” McKay said Wednesday in his prepared text. “These are significant challenges to grasp for a world that has largely benefited from globalization.”

https://www.bloomberg.com/news/articles/2020-04-08/global-trade-will-slow-even-after-pandemic-is-over-rbc-ceo-says?srnd=premium-canada

And this is from a mortgage pumper.

Projection
Guest
Projection

Average prices according bears’ once favorite website (https://www.zolo.ca/vancouver-real-estate/trends):

Vancouver Housing Prices – Current (Mar 09 – Apr 06)

Avg sold price: $1.3M
Monthly change: +1.1%
Quarterly change: +14.2%
Yearly change: +17.3%

All this despite a worldwide pandemic and lockdowns.

I am sure that once the naturally volatile data inevitably turns negative, the bears will be all over it, only to forget about it again when the numbers turn back positive.

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

He was so embarrassed that he not only stopped posting Zolo stats but he also changed his name! Too funny.

The Last Conservative
Guest
The Last Conservative

So Chris Cuomo of CNN said he has the coronavirus
and is locked down in his basement. We want to believe someone at first
but the other day he had a non radiologist interpreting his chest x-rays.

Problem is dozens of actual radiologists have said his x- rays are perfectly normal. Can CNN get even more embarrassing at this point?
The replies by board certified radiologists made me smile.

“Oh hello, Board-certified diagnostic radiologist here.

Now I’m no neurosurgeon, and I only read 1000’s of CXRs every year, but to my eyes, that CXR is stone cold normal.

Also: disregard the radiological interpretation of anyone who uses the term “infiltrates” on CXR”

“Can somebody please point out these “infiltrates” to me.

I see a normal cardiomediastinal silhouette, no evidence of effusion, normal lung volume, normal interstitial markings and clear lungs with no acute osseous abnormalities.

Infiltrate?

Lol…”

https://twitter.com/tomfolanmd/status/1247540144539746305

Oracle
Guest
Oracle

They are liars. They need the dumb sheep to believe them.

The last Conservative
Guest
The last Conservative

Yep. Too bad more people don’t see through their lies and put-ons.

YVR
Guest
YVR

Most people do. Few people watch CNN.

Best place on meth
Member
Best place on meth

Fredo the drama queen seems to be relishing being “infected”, he gets to be the news rather than reporting it as has always been his preference like every other douche on CNN.

Fucking piece of shit.

YVR
Guest
YVR

Only someone who watches CNN would be dumb enough to fall for their fake news. They have a neurosurgeon interpreting xrays. Hilarious.

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

You missed the part where he said “I want to make it clear to the audience that I’m not diagnosing you from afar, Chris and I spoke about this earlier and obviously he had his own doctor look at it as well”.

Or you didn’t miss it and you’re choosing to ignore it. Because you’re a dumbfuck liar who just got owned again. Oh no!

The last Conservative
Guest
The last Conservative

Poor baby. Your fake news network caught caught faking someone’s perfect cxr and tried to pass it as a legit fredo cxr with lung damage.
Want a tissue?

YVR
Guest
YVR

“Looks like someone with a lung infection”

Good job Sanjay! I guess we know which fool watches CNN and thinks it is real news.

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

You’re blinded by your anger and stupidity.

The last Conservative
Guest
The last Conservative

Lol. Pot calling kettle black .
CNN got caught. Admit it for once

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

“Caught”?

You think an anonymous online commenter knows more than his own physician? Or that all of the pertinent information which went into diagnosis was shown in that short segment?

And what would their motivation even be for this alleged sinister scam, anyway?

Get a grip. This is the sort of fantasy land you’re forced to inhabit by trying to naively partition the universe into “things that I find appealing” and “FAKE!!1!!”. It’s the same stupidity that causes you to look beyond all of the obvious failures in the French chloroquine publication – you’re simply not interesting in questioning your infantile world view.

The last Conservative
Guest
The last Conservative

They are not anonymous. Nice try. You refuse to read the many replies debunking the fake news. Some even have websites.
When radiologists give their full name and website in some cases, that is not anonymous, liar.

CNN was caught and is s fake news.
Your are a willfully blind idiot who refuses to accept reality.
As for HCQ it is already proven to work and I gave links to prove it. See Bahrain.

Thousands of doctors world wide Are using it. The data is irrefutable. Not going to go over that again.

Sucks being wrong all the time isn’t it. But hey I’m sure I made a few grammar mistakes so correct me and claim victory gain idiot.

Ou seem triggered more than usual today. I thin you need to get out more often.

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

There’s no proof that it works, dummy. There’s anecdotal information, and that’s not the standard for medicine.

The last Conservative
Guest
The last Conservative

Whatever you say

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

Whatever the entire scientific community says, you mean?

What part of this is so hard for you, exactly?

The last Conservative
Guest
The last Conservative

What part about thousands being cured by thousands of doctors is hard for you to understand, exactly?

Werner Stein
Guest
Werner Stein

Best place on meth:
Actually, I was going to ask you to be a bit gentler with them.
Sometimes you beat them into such a stupor, you leave no fun for me.

Werner Stein
Guest
Werner Stein

One of the telling signs according the FINTRAC:

Client shows strong interest in quickly completing the transaction without good cause, or without
interest in property characteristics, price negotiations, risks, commissions or other related details,
or may offer unusually high bids relative to current value/industry standard.

Some of the current sales would fit the above criteria.
Very suspicious.

Best place on meth
Member
Best place on meth

The trolls are furious.

Just remember to mock them from a distances because they’re most likely infected with china virus, and even if they aren’t they’re still fucking assholes.

xyz
Guest
xyz

Vaughn Palmer: Feds not ready, but B.C. will go ahead with quarantine plan on Friday

https://vancouversun.com/opinion/columnists/vaughn-palmer-feds-not-ready-but-b-c-will-go-ahead-with-quarantine-plan-on-friday/wcm/f0c13bb4-49da-4cbf-92d1-516f6dfe49a9/

How long did that take…now that we’re well into April…

Laibach
Member
Laibach

Province should have done it long time ago given the huge number of ongoing inbound flights from China as well as their notorious practice of lying, cheating and falsifying facts in order to get ahead.

Werner Stein
Guest
Werner Stein

https://www.remonline.com/british-columbia-real-estate-association-calls-for-co-ordinated-effort-to-tackle-money-laundering/

“We recommend the introduction of mandatory anti-money laundering education for all real estate professionals [ to ensure] that those professionals are trained in recognizing and reporting suspicious transactions,”

Sure, we understand, a student with no income buys a 2 or 3-million-dollar property, and how is a realtor supposed to think that is suspicious.

Projection
Guest
Projection

Some SFH sales reported today
R2444953 – sold above asking and above assessed
R2448195 – sold above asking and above assessed (sale closed yesterday after 8 days on matket)
R2448670 – sold above asking and above assessed (also closed yesterday after only 6 day on the market)
R2448104 – sold above asking at assessed (closed on 3rd April after 9 days on the market)

This in a frozen market where viewings are nearly impossible.

Werner Stein
Guest
Werner Stein
Werner Stein
Guest
Werner Stein

Best place on meth:
“Highest assessment was 2018 at 1.311”

Approx 22% down
Still priced for perfection, but perfection can’t last forever, another 50% to go.

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

You’ll be waiting forever.

Laibach
Member
Laibach

Never mind as long as there is a relentless village idiot to entertain us all regardless of the theme.

YVR
Guest
YVR

Forever = Fall

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

Bookmarked!

Projection
Guest
Projection

You morons never learn. Look at BPOM, that bitter fool. Do you want to end up like him?

Laibach
Member
Laibach

Here we go again and I will ask again. Why do you so easily get very upset. You act as a very sick person and yet have no reason for that but rather totally opposite. Why others failures bother you so much? How exactly are you impacted, especially when being in such good situation as you are? You strike me as very capable and well to do individual so I am totally confused what are you doing.

Projection
Guest
Projection

I am not upset.

I explained many times in the past why I am here, in this toxic place…

Laibach
Member
Laibach

Please tell me again. Perhaps I missed it previously and honestly I would like to know. The whole situation doesn’t make sense. You are becoming very emotional and irritated to the core while being provoked by some people who are way-way behind you, financially, morally, intellectually… I don’t get it, why is that? What are you trying to fix?

Projection
Guest
Projection

Where did you see me irritated? The comment you originally responded to wasn’t particularly angry, nor irritated. You seem to have read a lot more into it than you should have.

Best place on meth
Member
Best place on meth

There it is, the cry for help.

Sad panda.

Projection
Guest
Projection

You are the saddest character here. Most toxic too.

YVR
Guest
YVR

Not hard to trigger these morons. Now they have move the goal posts back to 2005.

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

The goalposts were set when morons like you started bleating about bubbles and imminent 70% price drops.

And here we are.

15 years later.

And you’re still bleating.

YVR
Guest
YVR

Never been a better time to own property in Metro Vancouver! You have to love losing close $300k in 2 years. Anyone want to do a rent vs buy? Someone’s wife is about to get another beating.

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

Assessed values aren’t sales prices, and they’re not appraisals.

Cherry-picked examples aren’t representative by definition.

The owner didn’t buy within the last 3 years. If they’d bought in 2005, for example, around the time that idiot bears starting bleating about bubbles then they probably did quite well.

Best place on meth
Member
Best place on meth

1270 KELOWNA STREET Vancouver

Actual sale date April 5, sale reported today.

Assessed 1.126, asking 1.198, sold 1.035, 8% below assessed.

Highest assessment was 2018 at 1.311

YVR
Guest
YVR

Near 300K loss in 2 years or $11500 per month in equity each and every month. Good thing that could never happen to a townhouse.

Best place on meth
Member
Best place on meth

This would have gone for 1.20 to 1.25 million just 3 weeks ago.

Worst Real Estate Anywhere
Guest
Worst Real Estate Anywhere

Wow, almost another TRIPLE!!!
LOL

paulb
Member

New
95
Price Change
25
Sold
59
TI: 10094

http://www.clivestevepaul.com

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

Rush to the exits!

Projection
Guest
Projection

With declining inventory.

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

Lack of choice will be their excuse for not buying.

Best place on meth
Member
Best place on meth

Of the 4,758 deaths in New York since the first on March 14, 61% were men and 39% were women, the state Department of Health reported on its new data portal.

In addition, 63% of the deaths were among those age 70 and older, while 7% of the cases were those 49 and younger.

And 4,089 of those who died had at least one other chronic disease, the records showed:

The leading underlying illness was hypertension, which showed up in 55% of the deaths.
Next was diabetes, which was diagnosed in 1,755 deaths, or about 37% of the cases.

https://www.usatoday.com/story/news/health/2020/04/07/new-york-coronavirus-deaths-data-shows-most-had-underlying-illnesses/2960151001/

CNA Must Pay
Guest
CNA Must Pay

The Americans believe in an informed public, even showing where the outbreaks are occurring and how severe the outbreaks are.
vs. BC where the government is only releasing very general numbers and stating they will not show where the risky areas are.

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

Stay the fuck home.

See? Now you don’t need to know.

The last Conservative
Guest
The last Conservative

Fuck off commie. We westerners don’t put up with your fucking totalitarian bullshit.
I had a wonderful day outside working in the sun. Lots of exercise, fresh air and vitamin D.

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

You need to grow up.

jim
Guest
jim

@ CNA Must Pay
Worst places in the US are places like New York and LA. Likely a combination of higher densities of population combined with them being international travel hubs.
Just translate that to at least two Canadian urban centres and you’ll have a pretty good idea. Keep in mind that this is not based on any known facts, just a best guess.

Best place on meth
Member
Best place on meth

NY state has 319 deaths per 1 million population, higher than Spain or Italy which are the two hardest hit countries in the world.

California’s rate is just 13.

NY city is more than 3 times LA for population density so that is definitely a factor.

LA has a warmer climate in winter.

jim
Guest
jim
Best place on meth
Member
Best place on meth

To say that Bernie supporters are not taking today’s news well would be a vast understatement.

https://www.tiktok.com/@userhewidj6ya1/video/6769233987501133062

YVR
Guest
YVR

At least half of Bernie Saunders supporters will vote Trump. The other half won’t vote at all. That is if Joe Biden runs for president. Rumor is he may run for senate again.

Oracle
Guest
Oracle

If you have a very small incorporated business.

Take the $40,000 gov is giving. Get the wage subsidy until it’s available. Then declare bankruptcy.

Then restart business under new name.

Like I said. Grab the free money while everyone is.

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

See “How to Oracle” step 1.

Oracle
Guest
Oracle

Wuiet!

I used targeted spell check.

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

A spellchecker that automatically generates total bullshit that you just made up?