Another wonderful day in Captain Vancouvers’ namesake city!
It’s time for another open topic thread, we’ll just share one link for now:
–Five numbers to douse high hopes for the housing market.
So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have a beautiful weekend!
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[…] banker says there will be lasting economic damage due to the Covid-19 pandemic with a “prolonged and bumpy” path to […]
‘Home prices in some of Canada’s major urban centres could decline by as much as 12 per cent over the next 18 months before recovering in 2022, according to a new report from the Canada Mortgage and Housing Corp., the country’s federal housing agency.
The report comes just weeks after CMHC CEO Evan Siddall predicted up to an 18 per cent decline in average home prices across the country over the next 12 months, a data point which prompted a skeptical realtor community to characterize the forecast as “panic inducing.”‘
Where’s the link?
Vancouver Sun.
Here’s how CMHC thinks COVID-19 will impact Vancouver’s real estate market
https://bc.ctvnews.ca/here-s-how-cmhc-thinks-covid-19-will-impact-vancouver-s-real-estate-market-1.4996407
I wonder why Richmond is mentionned so much in this article: https://thebreaker.news/news/price-gouging-in-bc/
3 in 4 British Columbians support banning foreign real estate buyers
https://thinkpol.ca/2020/06/18/3-4-british-columbians-support-banning-foreign-real-estate-buyers/
The theory of immigrants and foreign investors driving Canada’s property market is about to be tested
https://business.financialpost.com/real-estate/the-theory-of-immigrants-and-foreign-investors-driving-canadas-property-market-is-about-to-be-tested
“…with international travel frozen, multiple realtors and housing experts the Financial Post spoke to over the course of the week say that the lack of the usual immigration and travel pattern is starting to have a noticeable impact on the housing markets of Toronto and Vancouver.”
Police seize $100,000 in drug-covered cash from Richmond casino
https://www.richmond-news.com/police-seize-100-000-in-drug-covered-cash-from-richmond-casino-1.24158036
Imagine being such a compulsive liar you’d try to convince the American people that there’s an uptick in Covid-19 due to an increase in testing rather than governors reopening their states prematurely.
It’s not like there’s no data to fact check his garbage.
It was an obvious joke. Just like Biden saying that if you don’t vote democrat you aren’t black was an obvious joke.
You’re not objective.
No, that was his campaign trying to cover for him. Trump confirmed himself that it was no joke today.
But that’s not what I was referring to. A tweet this morning said:
“Cases are going up in the U.S. because we are testing far more than any other country, and ever expanding. With smaller testing we would show fewer cases!“
Which is a lie. Cases are increasing beyond what would be expected by increase testing, and per capita there are many countries performing more testing than the US.
So I guess you’re one of the gullible ones who believes every word yet accuses others of having a derangement syndrome? LOL.
>So I guess you’re one of the gullible ones who believes every word yet accuses others of having a derangement syndrome?
You’ve lost all perspective and objectivity. You think you can read people’s minds and use that to base your arguments. Are you under some kind of emotional stress?
I can understand why you’re trying to change the subject rather than admit your original error.
So classy.
LOL.
Biden wasn’t joking, he has a slave owner mentality.
The UBC Board of Governors fiasco has made Zero Hedge.
Fucking spineless cowards immediately caved to a hateful mob of student terrorists.
If the BOG at UBC had even the slightest bit of courage they would tell this group of scumbag student anarchists that unless they stopped bullying and harassing employees of the university, they would be expelled.
Zero Hedge.
LOL.
Didn’t that used to be a financial blog?
One of the commenters said, “Staged?” Could be. This Michael Korenberg, who holds a law degree and has been in business 35+ years, uses his own name on Twitter? Somehow I highly doubt it. Maybe he took one for the team?
Many people use their own names on Twitter. There’s nothing at all unusual about it.
Idiots might use their own name, but not a guy like that. This looks staged! Like I said, he took one for the team.
People are doing that everywhere. Look at Juicy Smolier (Jessie Smollett) who cried racism, said two white guys tried to lynch him in Chicago, and it was all a lie. The guys who put the rope around his neck turned out to be two Nigerian actors he had hired.
How about those bomb threats to Jewish organizations? Turned out to be a lie, and the culprit who wanted everyone to believe that there was a huge threat hightailed his lying ass back to Israel.
I could go on and on. I believe there’s actually a site online that compiles all of these lies.
There are many real name users on twitter who are far smarter than you. Perhaps they’re not embarrassed by their own opinions?
You wouldn’t know “smart” if it hit you over the head.
That’s the most sickening thing. Caving to the mob.
It’s like the French caving to the nazis
Haha. Sure. It’s just like that.
Done throughout history. Bribes, blackmail, intimidation, coercion, propaganda, lying, book burning, banning, fraud, and now cancelling.
Psychopaths live and breathe this stuff.
I hope everyone calls UBC to condemn their action.
Speaking about bullying, did you see this video? Apparently the mild-mannered Macy’s employee who was busy folding up a shirt was decked for ….. why? Make sure you turn it up nice and loud, just so you can hear the sound of “civilization” leaving the room.
https://twitter.com/MattWalshBlog/status/1275029296290168834
Oh no! Will you not be attending UBC now? LOL.
No, I would never attend an institution who shuts down speech. How can you call yourself a university when you erase all debate, thought, opinion, speech, investigation? You can’t.
What a shame. All those degrees are not worth much now.
Universities are nothing more than indoctrination camps now.
May as well fly a hammer and sickle or swastika at all of them.
Yeah, come to UBC, pay us big bucks, and we’ll send you out the other end ignorant, uneducated and stupid. What a draw!
You’re just jealous because you have no qualifications. LOL.
Disgusting black on white hate crime, he needs to go to prison for at least 10 years.
Shaun King of Black Lives Matter said:
“All murals and stained glass windows of white Jesus, and his European mother, and their white friends should also come down. They are a gross form [of] white supremacy. Created as tools of oppression. Racist propaganda. They should all come down.”
We are now witnessing the blatant racism of Black Lives Matter. A Black pastor in England, who was acting as a liaison between the police and Black Lives Matter, was asked by a broadcaster whether she thought the statue of Winston Churchill should come down. She agreed it should, if he was racist, but said she couldn’t really say because “I’ve never met the man.” She had no clue who he was, his history, and was unaware that he was even dead.
This is not going to end well.
If Biden wins, lookout. IMO they used Talcum x to do the dirty work of tearing down white Jesus.
Talcum x has lots of baggage over him about where some of the fundraising money he collected went.
They know tearing down Jesus statues could be a flashpoint so they wanted any blow back directed at talcum c. Just my 2 cents.
Hopefully conservatives don’t overreact and take the bait. They want confrontation. I say let the lawless devils self destruct. The more the left descends into lord of the flies, the more moderates will see who they really are.
This Venezuelan girl has an important message.
There will be zero statues of Trump.
Zero.
More liberal lies! There are already LOTS of HUGE statues of him, here’s a good one:
https://www.wired.com/2016/08/naked-trump-statues-swing-action/
>She had no clue who he was, his history, and was unaware that he was even dead. This is not going to end well.
Or maybe she meant that she can’t judge someone unless she truly knows them.
Good effort, but no. She had no idea who he was, what he did. I doubt she has ever read a history book. These are the people who get to determine who lives and dies? Laughable.
The Blacks are being used, just like they always are.
So the leftists were gloating Saturday night after the “disastrous “ Trump rally. Only 6200 showed up they crowed.
Final numbers had 12000 in attendance. Lower bowl was full (9000) and some upper sections too.
However an astonishing 20million unique viewers watched. FOX set a record for Saturday with 7.7million viewers. Only Trumps SOTU drew more 8.2m. Combined with 12m viewers on all digital channels.
And a record 14million online donations on his birthday a few days ago. Don’t count him out yet.
Only a far left retard riddled with TDS and deep seated race issues would count him out.
There is one here.
12000 is what the Trump campaign is claiming to try and save face. 6200 is the official number from the fire department.
Perhaps we should trust the people who put safety first over the habitual liars who are furiously trying to find ways of normalizing 122,000 deaths?
Even 12000 is pathetic. He knows he’s in yuuuuge trouble.
What is surprising is that Parscale apparently survived the weekend. LOL.
Why do you constantly lie. Seriously I’m not kidding but I believe you need help.
Something bad happened to you as a kid?
The fire Marshall was wrong and read that somewhere. 12000 people were screened.
Here is a picture of the full lower bowl
https://twitter.com/ChanelRion/status/1274516099397189633
Here is a panoramic view. Lower bowl holds 9-10k.
https://twitter.com/Penny_Squeezer/status/1274575533745946625
Stop your blind hate for a few days will ya.
We’re getting near the end of June and as of now listings have rebounded to their long term average for this time of year.
Sales are still 30 – 50% below their long term average.
A few more weeks like this and it could become the new normal.
But but but but Hong Kong!
Happy 12K!!!
LOL
I still do not see the “pent up demand” the communists have been warning us about.
88 is supposed to be a lucky number, I do not see that either, but 289 is.
There is no pent up demand. In fact, those that were considering a purchase are now taking at least a several month wait and see approach until their finances are more certain.
and with CMHC tightening the screws starting July 1 you’d think some of this so called pent up demand would have been pulled forward
SIDA asked: “Tell us how much prices in New Zealand changed since they enacted their own restrictions on foreign buyers. We can wait.”
Foreign sellers are outnumbering foreign buyers by a large amount. BUT “corporate entities” bought up 11% of all New Zealand properties in the second quarter of 2019 and 20% of properties in Auckland’s Waitemata ward.
Hmmmm. Makes you wonder who these corporate entities are. Are these sellers selling to these corporate entities? I’ll try to find out more.
Funny in my original post I wasn’t making an argument about that. Only pointing out the poll results and wondering if he thinks 80% are racists. Weird how he refused to answer.
They’re mostly misinformed. If, however, when presented with the data (which really demonstrates beyond a shadow of a doubt that local buyers are responsible for the vast majority of real estate purchases and is also corroborated by secondary data such as Canadians’ willingness to sacrifice retirement plans to purchase real estate on account of it being “a good investment that always goes up!) I’m sure most, being decent rational people, would acknowledge their blind spot and be thankful for the enlightenment.
However, a smaller number would continue to stubbornly stick by their original claims because they’re toxic little shits like you.
So I guess the answer to your original question was “no”.
Feel better?
You still don’t understand. 80% want foreign ownership banned.
The poll question was not predicated on who is responsible for sky high home prices.
Apparently, without evidence, you assume they believe foreigners are largely responsible for home prices.
Haha haha!
That’s your counterargument?
Oh my. That was funny. Do tell what other reason they could have. I’m all ears.
And yes, I understand that a large segment of the population has been mislead by the real estate industry and pricks like Douglas Todd. It’s hardly rocket science now is it?
Oh my. I’m still laughing at you.
Is it just a coincidence that every major city (London, San Francisco, Los Angeles, Vancouver, Toronto, New York, etc.) that saw a large influx of foreign buyers also saw a large upswing in prices? Just a coincidence? Nothing to see here? And when their particular government began to tighten credit and their economy started to stumble, so did ours. And then when they received a huge stimulus and credit conditions loosened, miraculously our market ticked up again.
Yes, the locals have joined in on the fun, but it was the foreign buyers (and money launderers too) who got the ball rolling and caused prices to initially begin their ascent.
Would you like me to prove it?
Your right backward. It’s a whole host of reasons that real estate prices are so high. Including FOMO.
Still most want a ban on foreign ownership. So I guess they’re racist. Lol.
*you’re
LOL.
So tell me about New Zealand?
NZ’s foreign purchase rule was a joke. It was obvious it wasn’t going to do much.
What other reasons?
Jesus. Most people believe a whole host of causes caused the sky high home prices.
In no particular order:
Foreign ownership
Speculators
Money laundering
Immigration
Shadow flipping
Interest rates.
You think people believe it’s just foreign ownership?
What a clueless fucktard
Just wait for the one of the less stupid posters to come and bail you out. I’m sure one will be along shortly.
I wasn’t asking you what you think others believe is the cause of high prices. I was asking why British Columbians might want foreign ownership of real estate banned.
English is hard.
Because no country should ever sell out their own country to foreigners. It wouldn’t be allowed in China. You can’t buy land in Thailand, unless you’re Thai. Many countries have this policy precisely because they know what would happen if they didn’t.
“You can’t buy land in Thailand, unless you’re Thai.”
Which pisses off the locusts to no end, but they can’t pull their bullshit “racist” crap in Thailand because that’s a country that doesn’t care if restaurant owners put up “no chinese allowed” if they feel like it.
Who are these “corporate entities” buying up the properties in New Zealand?
New
289
Price Change
78
Sold
88
TI:12034
Lol
Inventory still 3K below where it was a year ago. LOL.
Yes. But is that decrease in inventory due to tons of sales or due to people pulling their listings because they couldn’t sell?
and yet MOI has increassed
Hmm… does anybody know why the sales reported here doesn’t match those on zealty? by my count, zealty yesterday report over 110 yesterday… ?
First job losses, now pay cuts: https://globalnews.ca/news/7090216/coroanvirus-salary-changes/amp/?__twitter_impression=true
“The future is what matters and the stock market says things are looking up!”
How embarrassing.
Such little knowledge and in proud display to boot.
“Although a booming stock market may result in more discretionary income for future home buyers, there is currently no direct relationship between stock market activity and real estate prices.
Even plotting just annual prices and changes, you’ll see no direct visual evidence to help you make intelligent assumptions about a correlation, either positive or negative. “
From the UK Guardian on new Covid outbreak in Beijing:
“Officials have ordered all residents to avoid non-essential travel outside of the capital, and suspended hundreds of flights and all long-distance buses. Other cities and provinces have begun to impose quarantine measures on travellers from Beijing…”
We need to find out whether this virus was transmitted from animals to humans OR whether it was man-made in a lab. IF it was man-made, then this practice needs to end. They shouldn’t be fooling around with viruses (and that includes China, the U.S. and any other country monkeying around.)
“Metro Vancouver Real Estate: Trends and Price Forecast” Mortgage Sandbo, June 15, 2020.
https://www.mortgagesandbox.com/vancouver-real-estate-forecast
“• The impact of Coronavirus on Metro Vancouver will likely be very significant.
• Supply has risen because purchases have dropped, but the number of sellers has remained relatively unchanged.
• The Metro Vancouver benchmark home price has held its value, but the price of the median home purchase has dropped significantly. This is a sign that buyers are avoiding the top of the market.
• Short-term rentals in Vancouver (now vacant due to Coronavirus) may be converted to long-term apartment rentals or sold, and this could add unexpected supply to the market.”
“COVID-19 to leave some lasting economic damage, Bank of Canada chief says”, CTV News
https://www.cbc.ca/news/business/monetary-policy-covid-19-bank-of-canada-1.5621999
“Canada’s top central banker says there will be long-term economic damage from the COVID-19 pandemic as the country charts a “prolonged and bumpy” course to recovery. He warns that Canadians shouldn’t expect the short and sharp economic bounce-back expected over the coming months to last.”
“Macklem said the COVID-19 pandemic has created an economic shock unlike anything seen in our lifetimes. Entire sectors of the economy have shuttered, more than three million people lost their jobs through April and even more had their hours slashed.”
Per Saretzky:
“The Canadian economy was hammered with more bad news as retail sales fell further than expected. Receipts fell 26% in April on a month over month basis, falling significantly further than analysts expectations for a 15% decline. For the first time in 27 years, retail sales fell across every sub-sector.
As the Canadian consumer pulls back, so too has immigration. Once deemed a strong pillar of the economic machine, Canada admitted a mere 4,140 new permanent residents in April. That was down 85% from the same month last year. The number of study visas declined 41% year-over-year, and temporary immigrants collapsed by 80%. “
April is so two months ago. We all know April was a bad month. The future is what matters and the stock market says things are looking up!
Sure. So unemployment will be 5% next month?
Less for people that buy homes.
They don’t get it. LOL.
I had the exact thought. Funny you said it.
I have to say, you’re good at giving non-answers.
the markets are only up because Trump for all intents and purposes issued an executive order to all relevant parties to do anything and everything whether legal or not (mostly the latter) to get it up and keep it up until the election. no one cares about the price and what the future consequences of such irresponsible actions will be. sure, i get why he is doing this, but honestly this is all pointing to an epic collapse when reality eventually sets in. having many stocks actually trading higher than they were pre-covid makes zero sense. COVID-19 round 2 is hitting many states hard and he is back to pretending nothing is happening. this can only end badly (for stock investors too) if he turns a blind eye while the body count ramps up and then ultimately runs and hides… Read more »
Elite blacks keeping the rest of their people down.
They know the rules. To get on cable news they have to play the race card. Bunch of race pimping whores.
I believe MLK was killed because he wanted peaceful change like his mentor Gandhi.
It is obvious the globalist leaders want racial division and hatred to further their communist agenda.
US cities that have been run for decades by Democrats have become shitholes.
US cities that have been run for decades by black Democrats have become super shitholes.
Feel free to discuss, or if you don’t know how then just scream racist.
Amazing isn’t it. They whine about the police too.
Well Democrats control the police unions too.
The videos of the chaos In the shitholes are everywhere.
I’ve never seen a video of a bunch of white guys in maga hats going after blacks but have seen hundreds of blacks going after whites.
Here’s one from today. The msm tried to say a white extremist was bowling over “innocent “protesters…… until the whole video surfaced.
This is the lefts latest ploy, blame all acts of far left violence on “white supremacists”.
I don’t understand why a group of people keep voting for a party that couldn’t care less about them.
In the same way most Jews will vote Democrat despite a large wing of their party is openly anti semetic.