Welcome to the long summer of your dreams!
The sun is shining, the birds are singing and the time is right for a new thread!
So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent long and virus free weekend!
bullwhip29:
“RBC Economics: Pent-up demand exhausted, Canadian real-estate market to lose momentum, but not prices”
“All signs point to still-higher prices in the near-term,” according to Hogue.”
Typical double talk from mortgage pumper.
What usually take place is that the boss asks for a report with three possible scenarios: optimist, pessimist, and balanced.
The boss gets to pick what gets published, and fluff is presented as a study rather than a marketing tool.
Teranet has Vancouver real estate prices rising 0.2% in August, quite a bit less than the real estate board’s 0.7%.
The market is on fire!
Pretty close to 30% off by the end of summer, but not quite. Bears win, again!
Calling the Mandarin Han Communist Invaders Locusts is not hate speech.
Here’s why. In China they officially banned black people from Mcdonalds, by posting public signage in the restaurant. This is undeniable and outrageous racism.
Attitudes should be reciprocal.
When China decides to stop this and many other official racist actions towards foreigners in China, we can then look to see if describing the collective actions of these invaders here as locust behaviour, is actually racist… As of now it is freedom of speech.
The fine people of Hong Kong who are being persecuted by the evil mainland scum call the invaders locusts.
I stand with the people of Hong Kong.
Fuck you, locusts!
Imagine if in the not too distant past we let let citizens of the Communist Soviet Union buy up Metro Vancouver?
What makes these communist Chinese Locusts any different?
.
Heard through the grape vine that at least two of the major banks are now asking employees who formerly worked at offices downtown to return to “clean up” their belongings. Each employee will be asked to book a scheduled appointment, adhere to strict COVID-19 guidelines and will be escorted in and out of the building by security.
Surely this doesn’t sound like it fits the “feeling good” and “return to normal” narrative, does it Dave?
Sounds like they could be reconfiguring the space to allow for social distancing so that some may return to the office, and not necessarily abandoning the building.
RBC Economics: Pent-up demand exhausted, Canadian real-estate market to lose momentum, but not prices
https://www.straight.com/news/pent-up-demand-exhausted-canadian-real-estate-market-to-lose-momentum-but-not-prices-rbc
COVID-19 exposures reported at four more Surrey schools bringing the total to ten since the start of the school year
https://www.surreynowleader.com/news/surreys-princess-margaret-the-latest-school-with-possible-covid-19-exposure/
>>> I think it is becoming clearer why all those wedding banquets were shut down seemingly out of the blue.
ELON MUSK TESLA
Don’t need a house to phuck, why are they so expensive?
Jobless numbers were… umm…… “revised”.
“Multiple offers, shortage of listings, selling well over asking” seems to have lost traction.
When COVID is not enough and fraud is a national sport…
“ Authorities have traced the leak back to the Zhongmu Lanzhou biological pharmaceutical factory, which was found to be using expired sanitizers and disinfectants. The factory accidentally vented an aerosolized version of Brucella, the bacteria that causes brucellosis, into the air last summer, causing it to spread across the surrounding area through the wind.”
Chinese pharma leak infects thousands with bacterial disease
https://globalnews.ca/news/7341054/china-bacterial-disease-leak-pharma-brucellosis/amp/
“Canada Mortgage and Housing Corp. says it’s changing name to better reflect changing mandate”
https://www.cp24.com/news/canada-mortgage-and-housing-corp-says-it-s-changing-name-to-better-reflect-changing-mandate-1.5109618
My vote is for HousieMcBubbleFace
N 204
PC 68
S 111
TI 13942
Rush to the exits?
You stated quite clearly that you don’t believe Paul’s Numbers and actually threatened him here on this site, in a pathetic effort to intimidate so that he would stop posting them.
So why are you commenting on what you feel his current numbers are implying?
At least try to consistent as so far you are showing that you have no honour, or any shred of integrity, pond scum.
Threatened him? Stop lying, moron.
And because you’re clearly too dumb to understand I’ll explain it to you again. The numbers are taken at a moment in time before the end of the day, so sales are almost always under reported as a result. However, that moment in time is generally consistent from day to day which makes the daily change in inventory more reliable than the absolute numbers of sales stated.
Let me know if you ever manage grasp this quite basic observation.
Please let me know when you stop lying tirade. Your past posts intimidating Paul have been recorded here, ass hat. I’ll wait.
Or maybe it’s a reading comprehension issue and you can’t be helped?
The New West Pier Fire is officially arson!
So we have the sea to sky gondola sabotaged on the same day and West Coast Forest Fires in the US started by arsonists (just like the ones started in Australia, blamed on climate change until they caught a non-white arsonist and the media went quiet.)
Classic strategic destabilization, courtesy of Soros Funded Antifa types and other useful idiots.
The Oregon forest fires ramped up just as antifa/blm disappeared from Portland after 100 days of rioting. Sheer coincidence.
And what the fuck is this? Are you kidding me?
I think the gondola sabotage is being done by eco-extremists who think they’re saving the mountain from tourists.
or the suits at hedge fund HQ have figured out a way to game the system (again) and somehow make more money as a result of yet another tragedy. with this conveniently occurring in the dark of night one week after labour day, what is one supposed to believe?
Do you far right lunatics have a succession plan for when Soros croaks? It’s not like you would let your idiotic conspiracy theories die with him.
Claiming it’s not Soros is a conspiracy theory, and you should by the last one spreading these. Sigh…
*be
Is it going to be Gates? Who gets to decide? Will you clowns hold a vote, or will you just wait for instructions from the king of the far right lunatics?
Russian collusion!
Three year investigation!
LOL!!!
Listen globalist or useful low IQ idiot, I could care less which.
The documented and ongoing serious and true election interference is from Israel and their dual citizens and lobbyists living in the US. (See AIPAC for more info)
China is the other party conducting election inference and espionage with the Chinese Communist Party a key part of the globalist power structure.
You are Slavophobic and Russophobic and a true racist for bringing up and slandering Russia. Remember it was us Slavs who defeated Hitler and won WW2, also liberating China. You should be kissing our feet and asses…
The same globalists who financed Hitler and previous to that the Bolshevik Revolution, are funding the destruction of the United States and its cities.
Explain why they said not to talk about him or shut the fuck up, cunt.
Perhaps because there’s zero evidence for the bizarre claims being made by the far right, thus making it a certified crack pot conspiracy theory which deserves no air time?
Republicans need to start inhabiting the real world rather than attempting to hide behind dumb fantasies.
There are mountains of evidence about what Soros is doing funneling money into local elections, it’s even in mainstream publications, that’s why those two leftist bitches told him not to bring up Soros.
You know where there is zero evidence though? Bullshit conspiracy theories by the FAR LEFT like Russian collusion and Ukrainian quid pro quo.
Zero fucking evidence.
You want to admonish people here for what side they’re on? I will tell you motherfucker, anyone who is on your side is one sick, evil piece of shit.
Zero evidence aside from the impeachment of the president, you mean? And for the first time in history a member of his own party even voted to convict him. LOL. Of course the Mueller report found no evidence of collusion, so thank you for the strawman, but it still resulted in numerous indictments and convictions while also determining that the president himself likely obstructed the investigation a dozen or so times, itself another impeachable offence. The report also concluded that the Russian government “interfered in the 2016 presidential election in sweeping and systematic fashion”. The president refused a sit-down interview with Mueller and his written answers consisted mainly of “I do not recall” so as not to perjure himself. A sure sign of innocence! Meanwhile Durham has yet to turn up anything useful, and even said himself that he’s unlikely… Read more »
Impeachment was NOT evidence of ANYTHING you god damned stupid mother fucker. And Romney doesn’t count as a Republican, he’s RINO trash like McStain.
Impeachment was a 100% partisan political ploy.
Worst of all, the evil Democrat cunts were putting all their time and resources into their stupid impeachment just as china virus was landing on their shores, they completely ignored the incoming threat. This is treason.
The rest of your ramblings are pure shit you worthless cocksucker.
Just shut the fuck up you embarrassment to humanity.
LOL, so angry.
Back to shrieking “treason” and “traitor” at anything that moves again are we?
You can’t debate for shit, my friend.
I just owned you evil motherfucker.
And I will own you every fucking time because you’re a worthless, commie race baiting piece of shit that sides with blm, antifa, china and democrats.
You owned me by shrieking like a deranged idiot while failing to refute any of my points?
Sure you did. Now tell me more about how Soros leaves piles of bricks to hurl for the protestors that he has bussed in. LOL.
Changing the subject as usual, toxic piece of shit.
Oh dear – Soros was the subject, or did your steroid-induced rage make you forget already?
Steroids?
What the fuck is wrong with you?
“ Durham has yet to turn up anything useful”.
DNI Ratcliffe took the entire senate judiciary committee into the SCIF yesterday to brief them on Durham probe.
Democrats are freaking out today calling for Durham to be investigated for political interference!
They signed a letter to the IG. Lol.
Payback is coming probably starting in a week or 2 and will probably go into next year.
Here is the piece of shit Soros himself on 60 minutes admitting posing as a Christian to escape the holocaust and watched people he knew being sent to death camps while he helped the nazis confiscate Jewish property.
Helped sell out his own people. All you need to know right there.
Steve Croft was stunned you could tell.
proper lnk.
SIDA is a fucking prick. Don’t know why Admin hasn’t banned him yet.
Nevertheless, this site will need a licence going forward to operate.
Right. Ban the person who calls out racism, bad bear math, and Oracle’s disinformation. That’s be great optics for this place.
Almost every blog bans trolls who spend the vast majority of their time insulting, berating and name calling just about every other poster.
For better or worse, this one is the exception, it lets scum like you have a voice.
I wouldn’t care one way or other if this platform could catch up to 1998 and actually provide an ignore feature that would allow me to make you disappear from my screen but that’s fucking wordpress for you.
Pretty sure you’re responsible for the worst of the insults here, by quite a margin.
Display some self-awareness for once.
Yes, I am responsible for the worst insults here and ALL of them are directed at you and you only for obvious reasons.
Geniuses…
“An experimental green housing project in a Chinese megacity promised prospective residents life in a “vertical forest”, with manicured gardens on every balcony.
All 826 apartments were sold out by April this year, according to the project’s estate agent, but instead of a modern eco-paradise, the towers look like the set of a desolate, post-apocalyptic film.”
“Only a handful of families have moved into Chengdu’s Qiyi City Forest Garden because of an infestation, state media have reported.”
It’s always hilariously ironic when the worlds worst infesters get infested themselves.
Like that locust invasion that hit china earlier in the year.
Spekusceptic approves of your vile racism.
(Good faith statement.)
Triggered!
You should know by now that nobody cares about your pet project (defending chinazis)..
SIDA approves of sexual exploitation. (Good faith statement.)
See how you choose to lash out rather than take the opportunity to speak out against racism?
It’s perfectly quite clear now which side you’re on.
Yawn….
Autoreply loser can’t help himself, LOL.
No idea what you’re babbling about clown.
LOL!
The fact that you autoreply to everything I write, of course! LOL.
False dichotomy. I can be against you and them…. I’m here to discuss RE, though.
Strange that you attack me and never them, though. As I say, you’ve made your position perfectly clear.
*eyeroll
Hey far left dirtbag, you have yet to speak out against Netflix’s blockbuster hit “Cuties”.
You’ve made your position perfectly clear that you’re pro pedophilia.
We know which side your on and it isn’t the one that has relations with those who can grow pubic hair.
*you’re
Deprived you again, shitstain.
LOL!
“Us and them.” You don’t get to set the narrative here or anywhere, understood?
Why the bifurcation between T.O area and here? (Good faith question.)
“Vancouver market on the uptick, but worries persist”, Globe & Mail
https://www.theglobeandmail.com/real-estate/vancouver/article-vancouver-market-on-the-uptick-but-worries-persist/
“In downtown Vancouver, the condo market has softened considerably, with prices coming down as more units come onto the market. And although the detached house market is robust, the number of houses for sale could increase once the people who took mortgage deferrals have to start paying again. If cash is tight, they might choose to unload their houses, increasing supply.”
FULL: In downtown Vancouver, the condo market has softened considerably, with prices coming down as more units come onto the market. And although the detached house market is robust, the number of houses for sale could increase once the people who took mortgage deferrals have to start paying again. If cash is tight, they might choose to unload their houses, increasing supply. The key word for the current state of the housing market is uncertainty. For renters and buyers alike, there are opportunities. It’s a market strangely robust in the midst of an economy battered by a pandemic. The British Columbia Real Estate Association released a report last week that said the trends under way are “very unusual.” August sales were the highest for that month since 2015 and prices are higher than they were prepandemic. Part of the reason… Read more »
N 293
PC 98
S 152
TI 13924
Doesn’t appear that ominous. More 49th parallel wheat sounds like an OK reasonable call. I’ve read over at Bloomberg that plowing rates are amazing, so you may as well keep plowing.
Only 21 net new and strong sales. That’s a wrap for the year. No correction. Let’s see inventory in six months.
Shhh, you’ll wake the troll.
You were already awake.
Canada expecting 280,000 immigrants this year.
Almost 800 per day.
And people though borders were closed LOL.
Bullish for housing.
Link?
Bloomberg article today.
Read the latest. Not 3 month old posted by Sida.
Article says 238K not 280K. Their target was 340K. Amazing you had a link to backup you up, though of course you were proven wrong by it.
He deliberately throws out false information repeatedly like the other two compulsive liars here.
It’s actually 280K.
I just added the foreign students numbers to the immigration numbers.
Or did you think that category dissapeared in 2020?
“Figures for the first seven months of the year show Canada has now fallen well behind its target of 341,000 new permanent resident arrivals in 2020.
Between January and July, Canada welcomed 117,075 new immigrants, down from 196,845 in the same period of 2019.
The drop off in numbers have all come since March, when coronavirus restrictions fully took hold, with 47,905 newcomers welcomed in 2020, compared to 130,890 in 2019.”
Wrong. And deceitful.
Read Today’s article
Dickhead, they’re referring to the exact same numbers – July’s.
238,000, not 280,000 and it’s merely a prediction from an economist for what it’s worth.
Even if he’s right it would be over 100,000 less that what Turd was going to bring in originally.
That’s like an entire North Vancouver and a half not immigrating this year.
Wow, that’s higher than I expected. I wonder how 2021 will play out. Imagine if we blow out the numbers and do 130%.
“LOL. How do you know that prices are too high if you can’t estimate what fundamentals suggest they should be?”
Sure you got me.
“how much a month Jack & Jill”, the average working stiff amateur speculator, and the broken English realtors, all use analysis,asset price theory to arrive at fair value.
And as a result, you can be sure the housing market in Vancouver is not in a bubble.
Over and out.
Virtual class awaits me.
Again, you try to change the subject rather than provide a concrete answer to a very basic question. It’s perfectly clear to anybody why you’re so evasive about this.
Election call imminent.
Housing prices wayyyyyy higher than when NDP took power. Hahaha.
I don’t include lowering of mansions prices from $10 million to $8 million success. Sub $2 million wayyy higher.
You get the government you deserve.
“Maybe you were waiting for blood in the streets, mass bankruptcies”
No need for dystopia.
The pathology is not seeing the bubble for what it is.
There is nothing in Vaincouver that justifies the prices.
A premium over Moose Jaw, yes that is reasonable to factor in.
Also:
“Perhaps you’ll tell us what you think would be a fair price for an apartment that rents for $3200?”
Too many variables.
Silly question.
LOL. How do you know that prices are too high if you can’t estimate what fundamentals suggest they should be?
To all those waiting for the bubble to pop, please realize that the bubble already popped. The price correction started in 2016. It ended in 2020. We have had four years of correction and, apparently, you all missed it. Now the correction is over, sorry. That is reality.
Maybe you were waiting for blood in the streets, mass bankruptcies and houses losing 70% of the value. That was always just a lurid fantasy.
Dude, there is no hope for Vancouver no matter what:
Prices go up and up = Mass homelessness, mass crime, exodus, perma-recession.
Prices go down and down = Mass underwater mortgage slaves, bankruptcies, foreclosures.
Hi housing prices is not a cause of homelessness in Vancouver. Those people will still be homeless even if prices and rents were cut in half.
Wrong. High prices lead to high rents lead to marginal renters out on the street. Tons of homeless in Winnipeg?
Zombie is correct. The majority of homeless you see in Vancouver are struggling with addiction and mental illnesses. High rents are certainly a barrier for them but they generally weren’t the trigger for their situation.
That was right 10 years ago, not now.
All those overdoses are just people who came up $10 short for their rent one month?
They all move to Vancouver where we have better weather and a huge poverty infrastructure to support them.
And even still, there are lots of homeless still in Winnipeg
Lol. It’s a fraction of what we have.
.. as well as a consequence-free society.
“The price correction started in 2016. It ended in 2020…” Japan’s real estate bubble popped in the late 80’s. In the 30+ yrs that followed band-aid after band-aid was applied, newer stronger drugs administered but nothing was ever fixed. What we witnessed in 2008 was the beginning of a similar unravelling in many of the western nations. Fast forward to 2020 and here we are trying to apply new band-aids, more medicine in the hopes that the terminally ill patient (who was never cured in 2008) can hang on for a while longer. Anyone with half a clue can clearly see that sooner or later the patient will simply flatline and the whole ponzi house of cards comes tumbling down. Loading up on more debt to pay off other debts only works until it doesn’t any longer. I feel strongly… Read more »
It has been 12 years since 2008. Real estate prices have doubled or tripled in Vancouver since then, depending on which market segment you look at.
This hardly looks like a patient to whom Band-Aids are being applied simply to keep the patient alive. And it really does not look like Japan. You have to look at reality.
It doesn’t help much to look at week analogies to biology or physics or to look at a different country, with different circumstances, different economy, different immigration, Different demographics and think that it provides the path that Vancouver must follow.
price increases adjusted for inflation are much more muted. take a look around at look what happened to prices of everything else, especially essential items.
the key point is that after all these years, the “patient” is still reliant on the drugs and band-aids and would simply go into cardiac arrest if the supply were to suddenly be cut off. what happened over the last several months should be proof enough that this is all one giant house of cards that could come crashing down in weeks if it weren’t for government handouts. the pandemic also highlighted how poorly managed and funded the healthcare system really is and that care for seniors and other more vulnerable segments of the population is nowhere near the level it should be.
“Your error is assuming that a bubbling popping is an instantaneous event rather than something which develops over a period of time. Perhaps you’re too caught up in the metaphor?”
Are suggesting our disagreement is how it will unfold, or that there is no bubble?
Both. Given how high rents are right now combined with low interest rates most prices aren’t that far off what’s reasonable. The high end is silly, of course, but the vast majority of transactions aren’t at the high end.
Perhaps you’ll tell us what you think would be a fair price for an apartment that rents for $3200?
i think what will trip up many is the thought that they continue to rent out their places for $3200 when all the signs (ie. major drop in foreign buyers, students, remote learning, economic downturn etc…) point to a severe downturn in the rental market that will last for many years.
You’re welcome to play the game, too.
So you’ve backed away from your nonsensical claims about MOI being “extrapolated”, “enhanced”, and “manipulated”?
That’s something I suppose.”
I have not backed away from dismissing the MOI as a snapshot of the market.
I have said it is not a good predictor.
I will add you pumpers are good using it as a sales pitch.
But again, it is a sales pitch that works with:
“How much a month Jack & Jill”
However, you are running out of the greater fools.
Get a real job.
Your error is assuming that a bubbling popping is an instantaneous event rather than something which develops over a period of time. Perhaps you’re too caught up in the metaphor?