Open Topic, opinion, politics

Number 1 Victim

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224 Comments

What is about that special intersection of right-wing nutbaggery and victim mentality that blossoms in a free speech zone?

Amongst the many thing we didn’t correctly predict when we started this site with a hands-off-let-people-say-what-they-want policy was they way that it would devolve into a looney batch of commentators all eager to show that they are more victimized than the victims that are getting media attention.

Reading through comments here we can see who the real victims are: many of the commentators on this site! They are victimized by the media, by classist minorities, by reality. Everything is against them and it’s just not fair!

And you know what also isn’t fair? Making them cry out endlessly about oppression without giving them any real good strong evidence of oppression!

So let’s do what we can to show the sad racist wingnuts that they are being oppressed: let’s have a vote on which regular commentator we should ban! Post a link in the comments below to evidence that said commentator should be banned and feel free to back it up with a reason.

It’s well past time for VCI to join cancel culture, we apologize to people with brains and decency that we haven’t done it sooner.


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[…] the competition for Number 1 victim, I’m afraid Dave is completely out of the running. They seem incapable of blaming others for their problems and […]

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southseacompany

“Canada Mortgage and Housing Corporation is Looking for a New CEO”, Toronto Storeys

https://torontostoreys.com/cmhc-hiring-new-president-ceo/

“The Canada Mortgage and Housing Corporation (CMHC), which has been helping house Canadians for over 70 years, is looking for its next president and CEO.

The successful candidate will replace the current chief executive officer, Evan Siddall, who ran Canada’s main housing finance agency for the past six years.”

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southseacompany

“New CMHC lending regulations kick in for home buyers”, CTV News

https://calgary.ctvnews.ca/new-cmhc-lending-regulations-kick-in-for-home-buyers-1.5007278

“The Canada Mortgage and Housing Corporation made changes to its lending standards last month, which went into effect July 1.”

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Werner Stein

For RE to make sense it has to go up in price at least 5% per year. At that rate of growth, unaffordability could become a problem even for lawyers and doctors. But of course, those types of groups can go cap in hand to government for more money, conversely others can just charge their clients more.

When unemployed Pol Sci group with master’s degrees get priced out is when the fun starts.

BTW Zombie, can you please provide a list of the over asking price sales.

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Prediction

Sales increasing, prices increasing. 5-year mortgage rate is at 1.97%.

You people are delusional and dumb. Do you ever ask yourselves what went wrong with your thinking? Year after year, you keep predicting a crash, only to get repeated kicks in the ass by reality. Are you masochistic?

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Big Bear

So prices are now higher than in 2017?

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Shut It Down Already (original)

For attached and lower end detached, yes.

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bullwhip29

A B.C. developer who built townhouse condos, mostly in Surrey, with roof overhangs as a solution to the leaky-condo problem, is facing at least three lawsuits from stratas, alleging the overhangs weren’t property designed or built
https://vancouversun.com/news/local-news/condos-built-to-fix-leaky-problem-with-overhangs-now-facing-bigger-problem/wcm/756129fe-30e4-4b0c-afad-b1ecad0938ff/

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Werner Stein

“Hmm… there were a large numbers of listing expiring yesterday… I wonder is some of the listings are those expired relisting”

If there were a large number of expired listings, it would be an indication of how fast the listing are flying off the shelf.
I guess that is one measure of the illusive pent up demand.

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Shut It Down Already (original)

What is selling is selling faster than it did at this time last year.

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Werner Stein

LOL
310
Huge listings, weak sales.
Absolutely no sign of the rush to buy.
If the pumpers cannot turn the embers into a raging flame before autumn, the bubble may burst earlier than I anticipated.
Soon it will be too embarrassing even for the pumper to talk about pent up demand.

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Roger

Hmm… there were a large numbers of listing expiring yesterday… I wonder is some of the listings are those expired relisting

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Shut It Down Already (original)

Don’t ruin his moment.

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Big Bear

The cancelled listings are now part of the shadow inventory. The sellers still want to sell.

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Shut It Down Already (original)

Use Google to search just this site for the term “shadow inventory”. Let us know what you find. LOL.

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Roger

July figures will be very telling… if July sales are lower than mine then that means pent up demand narrative is dead… if deferral cliff is real most of those vulnerable owners may start listing over the next couple of months instead of waiting for sept

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bullwhip29

an expired listing and an actual sale are not the same thing. seller is either going to relist or put life on hold…neither scenario is bullish. wait til next spring…

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Dave

Here we go again… the correction is always around the corner. Sales up 65% month over month and higher year year over comparing a Corona month to a non-month. Listings are stagnant and lower than last year. But at least you even recognize the data is not working for bears right now and the bear is really now just a hope and a dream.

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Shut It Down Already (original)

The foreign buyer narrative is dead, too.

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bullwhip29

right, but the Vanc market had already been correcting for 3-4 yrs already before any of this happened in case you have forgotten.
pull up some of the “data” from 2015/16 as a refresher. fwiw, i actually think sales volumes will be even higher same time next year while price declines will accelerate further.

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bullwhip29

new CMHC guidelines just kicked in. many buyers are now including strict COVID clauses in offers. a number of stratas are effectively insolvent (even if they don’t it yet). no depreciation report, no insurance = no sale. for those like dave who think things are back to normal (lol…), the govt handholding and mortgage deferrals will not go on forever. when these programs end, we’ll see if everyone can truly stand on their own two feet without assistance. imho, if there was going to be a rush of sales pulled forward, we would have seen it already. the window to buy, close transaction, pack up and move before Sept is rapidly closing. the land assembly, shadow flipping and “I BUY THREE” games ended a long time ago, you can forget about this. for god’s sakes, just getting a routine renovation… Read more »

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Todd

Agreed 100%… we won’t know what the real picture is until the government takes off the bandaid… Sales activity in June weren’t bullish at all… those who wanted to buy in April/May or the ones buying in June… how many of those type of buyers left? July/August will tell us that answer… Bullish Factor = Low Interest Rate, Recovered stock markets… Bearish Factor: Double digit unemployment; falling rent, reduced immigrantion/international students; record number of units being completed; mortgage deferral cliff, CERB cliff. et..

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paulb

New
310
Price Change
71
Sold
109
TI:12058

http://www.instagram.com/clivestevepaul

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Big Bear

Defferal cliff?

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Shut It Down Already (original)

Nope, similar thing happened a year ago.

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bullwhip29

I’d say there might be a few added wrinkles this year

all stars lining up for RE mkt to go into coma this fall/winter

next spring we’ll get a better indication of how much damage has really been inflicted, how many hospital beds will be required and the number of body bags needed

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Shut It Down Already (original)

“Next spring” is basically the catchphrase of posters here.

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Werner Stein

From Southseascompany’ link

“A telling example is a new two-bedroom, two-bathroom condo apartment in Burnaby’s Metrotown that completes this October. “Originally purchased for $841,800 but now assigning for $784,900,” the July 1 Craigslist ad reads. ”

One would think the developer would just buy it back to keep the buyer from resorting to this.
Bad press, could start a domino effect.

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southseacompany

A pre-sale bought back is a pre-sale unsold. Developers need to pre-sell a certain number of units (65%-80%) in order to get financing to build. So, the bank would probably not take kindly to the developer buying back pre-sale contracts.

To avoid this scenario, pre-sale contracts are often written with prohibitions on selling assignments without the developer’s approval. As an example, Wesbank banned flipping assignments on the Vancouver House when the market dropped in order to avoid the ‘domino’ effect.

Who knows what’s going on in the cases cited, but it’s not a good sign – or is a good sign, depending on your point of view.

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southseacompany

“Condo assignments halted at Westbank’s Vancouver House,” April 9, 2019 ”

https://www.urbanyvr.com/condo-flips-halted-at-vancouver-house/

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Shut It Down Already (original)

The reason there was that completion was imminent. Not market conditions. Totally normal.

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bullwhip29

or they are trying to pass this off to an unsuspecting buyer as an isolated distressed situation (when in fact the market value simply dropped across the board)

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southseacompany

“New condo sales, starts plummet in Metro Vancouver”, Business in Vancouver

https://biv.com/article/2020/07/new-condo-sales-starts-plummet-metro-vancouver

“A pandemic panic may be settling into Metro Vancouver’s once robust condominium market, at least for the short-term. Presales of new condo units are down 50 per cent and new product launches had plunged 75 per cent as of mid-May, industry reports say.”

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bullwhip29

Eight Cineplex theatres to reopen in B.C. this Friday with $5 tickets
https://vancouversun.com/news/eight-cineplex-theatres-to-reopen-in-b-c-this-friday-with-5-tickets/wcm/f105c808-cfa0-471a-8e1c-1a0976d77f61/

>>> with CGX shares trading near March lows, the market is saying this plan is flawed in so many ways…

masks not required (to keep concession stand in business). theatre will now strongly enforce outside food and drink restriction (due to covid-19 of course). this will automatically deter many from going at all.

the last thing you should be eating is popcorn or other junk food with your dirty hands anyway

if on other hand masks required, then no point having theatre open given largest source of revenue would be cut off

lastly, what is there to watch anyway that we haven’t seen already?

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bullwhip29

Minoru Centre for Active Living waives age restriction on discounted meals
https://www.richmond-news.com/news/seniors-offer-affordable-meals-to-all-richmond-residents-even-under-55-1.24163787

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bullwhip29

Feds extend COVID-19 isolation order for anyone entering Canada until Aug. 31
https://nationalpost.com/pmn/news-pmn/canada-news-pmn/feds-extend-covid-19-isolation-order-for-anyone-entering-canada-until-aug-31

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bullwhip29

A new acute care tower at Richmond Hospital will be larger than first envisioned two years ago, with several hundred million dollars added to the original budget
https://www.richmond-news.com/news/new-tower-at-richmond-hospital-expected-by-2024-1.24163890

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bullwhip29

Richmond parent Gillian Burnett is expecting a “revolution” from families in September if instruction doesn’t improve in the COVID-19 pandemic
https://www.richmond-news.com/news/richmond-parent-so-much-pent-up-frustration-and-anxiety-1.24163825

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bullwhip29

UPDATE: Passengers on 4 flights into YVR warned of possible COVID-19 exposure
https://www.cbc.ca/news/canada/british-columbia/passengers-on-4-flights-landing-at-yvr-warned-of-possible-covid-exposure-1.5635164

>>> in addition to the two Air Canada and one Flair Airlines flights, passengers on Delta flight 3898 from Seattle may have been affected. yup, sounds like a perfect time for the airlines to ditch the social distancing guidelines…

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Werner Stein

No substance.

It is entertaining how the Angela Calla trained amateur pumper shows his ignorance with pride.
The narrative until now has been “Vancouver is special, and “real estate is local”.
The macros, according to the charlatan, have not mattered in the past.
But now on a daily basis, he refers to job numbers, stock market action, etc.
These are numbers that can change drastically in a very short time.

What a farce, what a joke.

Vancouver was in a bubble pre Covid,

Inventory will explode after the bubble pops.

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Dave

Sales up, listings down. Jobs coming back like never before. All facts. We’re at a point that predictions aren’t even needed. Just look at the data. It’s more or less already proved me right. The level of denial is so strong that even when faced with reality, some still refuse to believe it.

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Shut It Down Already (original)

It’s a shame that admin chose to officially designate this blog a safe haven for sick racists. They had the opportunity to sort this out a long time ago – it’s been literally years, the culprits are known – yet they decided that hosting controversial discussion was financially lucrative and no genuine attempt was ever made to filter out the pond scum.

And shame on paulb for supporting it. It’s now quite clear which losing side of history he wants to be on. I hope this costs him business.

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Slava

Shame on you, spoken like a true fascist.
Classic fascist agitation and attempted intimidation with aspirations of the state shutting down the existing freedom of its citizens.

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Laibach

It is shame that you are still given space to spread your propaganda and insults. Pathetic lowlife with no life and shame in “mission”. That shit you’re pulling with Paul is just despicable, but hopefully he smart and doesn’t give a shit about your nonsense.Using Gestapo–NKVD methods to scare people and push your ideology should not only be banned but prosecuted. You are a dangerous scumbag so get the fuck off.

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bullwhip29

The scientific war of words over Chinese traditional medicine is heating up in this era of COVID-19, since some of its ingredients contain wild-animal parts that researchers link with the origins of the pandemic
https://vancouversun.com/opinion/columnists/douglas-todd-covid-19-outbreak-spotlights-traditional-chinese-medicine-in-canada/wcm/ab0661de-bfd9-45a8-96f9-b7649cfd2631/

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Laibach

I am surprised that esoteric crap isn’t banned in Canada long time ago.

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bullwhip29

Despite the economy reopening, Vancouver is still far from its normal highs as one of Canada’s leading real estate destinations, according to local industry players
https://www.mortgagebrokernews.ca/news/brokers-vancouver-market-still-a-long-way-from-full-recovery-330992.aspx

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bullwhip29

3 flights to Vancouver International Airport possibly exposed to COVID-19
https://bc.ctvnews.ca/3-flights-to-vancouver-international-airport-possibly-exposed-to-covid-19-1.5008026

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Dave

Instead of getting rid of somebody, I’d be OK to vote Burnabonian back in. He had the guts to put it on the line and I respect that. I’ve already been made more than whole.

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Dave

Huge employment numbers.

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