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southseacompany
southseacompany

“Singapore posts record 10 straight months of deflation”, Yahoo News
https://finance.yahoo.com/news/singapore-posts-record-10-straight-050242186.html

southseacompany

“China reports consumer deflation for first time since 2009, raising questions about spending power”, South China Morning Post
https://www.scmp.com/economy/china-economy/article/3113131/chinas-economy-reports-consumer-deflation-first-time-11-years

“China’s headline consumer inflation dropped into negative territory in November for the first time in 11 years as pork prices eased significantly, raising the risk of further deflation in the world’s second biggest economy and casting doubt on the nation’s real consumer spending power.”

southseacompany

““The Price Of Tomorrow” by Jeff Booth – Book Review”, Forbeshttps://www.forbes.com/sites/calumchace/2020/08/18/the-price-of-tomorrow-by-jeff-boothbook-review/?sh=4386740874c1 “In 2008, policy makers had a stark choice. They could bail out the banks, and aggravate moral hazard, or they could risk a worldwide depression, as trust in the financial system broke down, and markets stopped functioning. Booth thinks it was inevitable that they took the former option, but he fears it “changed capitalism by gifting many of the engineers of the chaos with risk-free returns at the taxpayers’ expense.” Booth believes in capitalism, “where risk is rewarded and punished, and where the free market is the ultimate referee of your value. That is why it pains me so much to see it breaking down.” Capitalism has many flaws, but it remains the best economic system humanity has invented so far. It seems hyperbolic to say that it died… Read more »

Werner Stein

By their own admission, the bulls concede that the mania is driven by “free money”.

At that point they make a full stop, and fail to unpack what that means, and the downstream inevitable consequences.

Shelter has become monetized and commodified as an express lane to riches.
It has happened before, stocks, bonds, art, beanie babies, oil, gold, and of course real estate.

The destination is clear, the riddle is the time.

southseacompany

“Metro Vancouver condo prices edging down in December”, ThinkPol
https://openhousing.ca/2020/12/17/metro-vancouver-condo-prices-edge-down-in-december/

Pistolino

Is it the right time to buy? Rates are low, prices are falling. What else do you expect?

Big Bear

Still not worth it.

Pistolino

How do you define what’s worth it and what isn’t?

southseacompany

“Real Estate Sales Soar In Every City, As Bank Of Canada Juices The Market”, Better Dwelling
https://betterdwelling.com/real-estate-sales-soar-in-every-city-as-bank-of-canada-juices-the-market/

“CREA data shows record real estate sales in November. Unlike previous boom-time periods, the rise in home sales wasn’t confined to a few hot markets. All but two major cities across the country are seeing double digit growth in home sales.”

“When real estate sales are soaring against declining population, and higher unemployment – this likely has to do with an oversupply of credit. “

paulb

N 45
PC 11
S 79
TI 9242

Approx sales for the month 3157

Happy NYE VCI! Cheers

http://www.instagram.com/clivestevepaul

Dave

A great way end to the year. Going to be a great evening.

xyz

No fireworks in FEARcouver.

xyz

On New Year’s Eve around the world, there is perhaps no greater juxtaposition than these two photos from New York City’s Times Square and the celebration scene in Wuhan, China:

https://twitchy.com/dougp-3137/2020/12/31/we-are-being-played-new-years-eve-scene-in-nycs-times-square-looks-very-different-from-wuhan-china/

Shut It Down Already (original)

The US would have been in much better shape had the golfing clown actually acted in a timely manner and used his twitter megaphone to encourage wearing of masks, etc. Instead he wanted to “pack the churches” back in April.

Now current projections are suggesting over 500,000 deaths by Easter. And he’ll probably try to blame Biden. Truly sick.

xyz

Trump imposed a travel ban back in March before even TRUDEAU. Guess what? Here’s TIME back then trumpeting that it WOULD NOT WORK. Now take your Trump derangement syndrome and go stuff it.

https://www.google.ca/amp/s/time.com/5801723/trump-travel-ban-covid-19/%3famp=true

Shut It Down Already (original)

Dumbass, he allowed 40,000+ people to enter the US from China after his so-called “ban” while people were still arriving from Europe without any form of screening or limitation.

And the whole time he was downplaying the severity of the virus while undermining his chief doctors and scientists and wishing that it would just go away on its own.

It’s borderline criminal negligence.

But well done for demonstrating by means of comparison with Canada that Trump’s travel “ban” wasn’t that effective. Talk about shooting yourself in the foot, LOL.

xyz

Looks like many of you lefties don’t practice what you preach.

Ms Pelosi was also seen with a face mask around her neck rather than over her mouth. She has criticised President Donald Trump for not wearing a mask.

https://www.google.ca/amp/s/www.bbc.com/news/amp/world-us-canada-53994209

Shut It Down Already (original)

Old news, an isolated incident as opposed to a nationwide policy, and Pelosi wasn’t holding the highest office in the country. Trump could have radically changed the outcome of this tragedy, but chose not to due to him being a stubborn moron.

Wear a mask and get vaccinated, dipshit.

xyz

You are lying. He was ahead of TRUDEAU.
Don’t lie and mislead this forum.

Shut It Down Already (original)

I never disputed the order of events pertaining to travel restrictions.

Did you sustain a head injury as a child?

xyz

Now for the benefit of the forum, I’ll refer to a British paper since the Canadian media has failed to print about the Bidens. I wonder why? You have a lot to say about Trump…..how about the potential for blackmail if the Biden’s should gain the White House….

https://www.dailymail.co.uk/news/article-8901717/Hunter-Bidens-laptop-lays-bare-world-depravity-makes-target-blackmail.html

xyz

Some more coverage of the Bidens that the Canadian media failed to print….all of which will become critical if they gain the White House….

https://nypost.com/article/hunter-biden-china-timeline-business-ties/

go ahead SIDA…..keep living in your little bubble of denial…..

Shut It Down Already (original)

Changing the subject is literally your best strategy, LOL.

Trump’s botched Covid response led directly to the deaths of tens if not hundreds of thousands of people. And you’re all out of arguments.

xyz

No use arguing with a mental midget with Trump Derangement Syndrome.

Shut It Down Already (original)

You’re clearly not capable of forming a coherent argument, and didn’t even bother to understand the (lack of) impact of the so-called “travel ban” before bringing it up.

Typical far right imbecile. LOL. I could run circles around you clowns all day long.

donreal

If you really cared about bans, you would be criticizing other leaders as well. xyz is right….who exactly now is incoherent?

Shut It Down Already (original)

You are, actually.

Idiot Trump-lickers can only bring up the travel “ban” as that’s literally the only step he took to reduce transmission. There were many other policies which could have been enacted which he chose either to ignore or actively argue against. All he had to do was promote something as trivial and easy to do as wearing a mask by setting a good example, as other world leaders did. But he didn’t. He chose not to save lives. And now the good people of America are paying a heavy pride for his stubbornness and stupidity. It’s a tragedy.

donreal

you said :
“I never disputed the order of events pertaining to travel restrictions.”

So Trump was more proactive than Trudeau.

Shut It Down Already (original)

Dumbass, Canada’s death rate per capita is far lower than that of the US. So clearly there are more factors in play than just travel restrictions. You bozos talk as if his “ban” was sufficient. It was not. He failed, and many thousands died as a consequence.

You probably think he won the election, too.

Too funny.

donreal

Among the 45 countries with over 50,000 cases, the U.S. has the 24th-highest case fatality ratio. And the U.S. rate of 3.3% is much lower than that of the U.K. at 15.1% or Italy at 14.2%.

So despite the daily death toll of 1,000 in the U.S., there is some truth to Trump’s assertion that the low case fatality ratio is a positive sign in the United States.

SEVEN modern countries with higher Covid death rates than the US.

https://www.npr.org/sections/goatsandsoda/2020/08/05/899365887/charts-how-the-u-s-ranks-on-covid-19-deaths-per-capita-and-by-case-count

donreal

So with a country like the UK (with healthcare and govt similar to ours) having a higher death rate AND a higher case fatality ratio than the USA blows a big hole in your case against Trump.

Obviously other significant factors at play including age and # of tests.

Your simplified “it’s all Trump’s fault” narrative doesn’t hold up.

Shut It Down Already (original)

Oh but it does hold up, because Boris Johnson also fucked things up completely. I said that Trump failed (which he did by just about any measure), but I never said that he was the only person who failed. Try to keep up?

donreal

….and the Swedes as well right?

you’re too funny

Shut It Down Already (original)

Sweden has already admitted that their policy was a failure, while their number of deaths adjusted for population is similar to that of the US. In December Sweden just a U-turn on face masks.

US deaths (per million): 1074
Sweden: 861
Canada: 412
British Columbia: 178

Stop embarrassing yourself.

Shut It Down Already (original)

So you’re providing a link which demonstrates how Trump failed to understand the notion of “per capita” but otherwise has out-of-date numbers? Did I get that right? LOL.

The current US death toll is far higher than 1000 per day.

Pistolino

20k on it’s way, in a parrael universe.

Pistolino

Aren’t you tired of hearing this kind of thing over and over again? Why don’t you try to work harder, invest smarter to become one in the top 10% instead?

Big Bear

Read the article and you’ll have the answer.

Pistolino

Read the bottom of the article and you’ll wonder why should I take the view of a writer who takes $10 from readers to survive. Obviously he’s so far away from the “top 10%”

southseacompany

“Burning Questions: Have we reached peak condo?”, Financial Post
https://financialpost.com/real-estate/burning-questions-have-we-reached-peak-condo

“Since the start of the pandemic, resale condos in Toronto and other Canadian cities have tended to stagnate in value, even as prices of other housing types have stabilized or surged. As the year ends, and with post-pandemic life in sight, real estate watchers are wondering: what will it take for condo markets to return to normal?”

Werner Stein

No phantom new North Van this year, yet the bubble still expanding, and building pressure.

There are internationally recognized think tanks with statisticians, economists, and highly educated researchers with super computers who identify bubble markets.

We also have self-interested sales and promotional organizations represented by drunks who claim to be consultants to billionaires, who spend a lot of time online and deny the existence of housing bubbles.

Who to believe?

Dave

Believe the guy that got it right time and time again.

It doesn’t take a super computer to figure out the effect of interest rates on housing. Nor does it take a genius to look at a mortgage table and see the high percentage of equity gained with each payment.

vanrebear

We hate debt and used to be bears. However, debt below inflation is not debt but planned currency devaluation. Anyone sitting on cash will be a huge loser in months and years to come. Anyone with a decent but stagnant salary will also lose. As consumer rates approach zero, value of real assets approaches infinity. What is the difference if you owe a million or a billion against a house if you don’t have to pay interest? Takes only a few IQ points to figure that out. The only viable financial survival strategy for an average joe is to leverage into the real estate market. Bears, this is a once a generation opportunity to enter the market if you waited, the prices did not move that much yet. Run the numbers and you will see how affordable some real estate… Read more »

Dave

Finally somebody answered my question as to valuations when rates approach zero. Not even Werner’s crack team of researchers figured that one out.

Shut It Down Already (original)

They don’t go to infinity. Incomes still limit the ability to service debt and there’s still a risk of default which influences what lenders are willing to loan out.

xyz

I see the RE agents are out in force….

Big Bear

You’re missing two things:
1. You can’t eat your condo.
2. interest rates rise in a high inflation environment because the bond market won’t take your rotting bonds.

Pistolino

I can’t agree with you more.

paulb

N 52
PC 15
S 116
TI 9397

http://www.clivestevepaul.com

MVCA

Check out the Vancouver Sun article entitled, “Fed up with your food delivery? Don’t call 911 – B.C.’s E-Comm has released its annual Top 10 list of terrible 911 calls in 2020, with a lot of misplaced calls about the COVID-19 pandemic.” The article is sneering and condescending toward the public. Of course, the reasons listed in the article are not valid reasons to call 911. BUT, there is another side to the story. I have found that 911 operators in recent years are very, very bad at their jobs. Where do we go to give feedback about 911. 911 is for emergencies and so when you have an active emergency and you are calling 911 for help and the operator is acting condescending and unprofessional, that can really make an emergency situation worse. Most 911 operators are probably excellent… Read more »

MVCA

A few years back, I witnessed an assault right outside of my home. Two women were assaulting a third woman. RIght in front of where I live. I cannot stand violence so I I called 911 to report the assault. It was two white women beating on a Chinese woman. I knew she was Chinese because I heard her speaking Mandarin on the phone at certain points. I called 911 to report the assault. The 911 operator ARGUED with me. I said the victim was a Chinese woman and the 911 operator argued and said, you mean an “Asian woman”. And I was like, “No, I mean a Chinese woman.”. I AM THE WITNESS TO THE ASSAULT! THE 911 operator should be taking as accurate of a description of the victims and assailants as the witness can provide. She did… Read more »

MVCA

That was a few years ago, but I cannot help but think about the MSM hysteria about all the alleged attacks against Chinese women in Vancouver in the past year. 911 operators need to be educated on race and racial categories and to be told to stop arguing with callers who describe someone as Chinese. If you’re not the witness, you don’t know that the person isn’t Chinese.

MVCA

More recently, I called 911 in a domestic violence incident, and the 911 operator told me that before police can attend the call, the household cat must be locked up. This family had a new kitten and I did not feel safe chasing down a kitten in the midst of a domestic violence dispute. I told the 911 operator that and he argued with me. He said it is very serious to call 911. I was like, yes, I know it is serious to call 911. This is a serious situation. So why the hell are you obsessing over a cat??? You’re telling me police are afraid of a little kitten? You are telling me it is serious to call the police. That implies that this is not a serious call. 911 OPERATORS: STOP ARGUING WITH CALLERS. GET OFF YOUR… Read more »

MVCA

Anyways, I just had to get that off my chest. The handful of times I have had to call 911 in recent years, it has been an argument with the 911 operator. I think they need to be way way better trained at their jobs. I don’t have a bad word to say about my police interactions at all. I think the police do a great job for the most part, under extraordinarily difficult circumstances. But some of the 911 operators need to be dealt with. They are making emergencies worse. And it is not clear where we can report them.

MVCA

Everyone spends so much energy thinking I am racist yet when I called 911 to report an assault in progress against a Chinese woman, the 911 operator argued with me about the victim’s race. So who was the real racist in that interaction? Not me. The 911 operator revealed HER racism by conflating the more precise category “Chinese” with the less descriptive term “Asian”. I was also standing up to violence against women, as I have done since my childhood calling the police on my dad who routinely brutally beat my mum. I have been calling the police to help battered women my whole life! But it’s only been in recent years where the 911 operators started arguing back. I am probably an empath, in addition to be a crazy genius. I can’t stand to witness an other person suffer… Read more »

Stagnate

I agree, I once witnessed a knife attack and the 911 operator wouldn’t proceed with the call until I identified myself and my connection to the crime scene

southseacompany

“Townhouse prices reaching all time high as condo prices fall in Metro Vancouver”, ThinkPol
https://thinkpol.ca/2020/12/18/townhouse-prices-reaching-all-times-high-as-condo-prices-fall-in-metro-vancouver/

“The OpenHousing Home Price Index for condo properties fell 1.90% year-over-year, the December early projection shows. This represents a decrease of 1.75% compared to November.”

“The divergence appears to be a result of homebuyers eschewing condos in favour of more spacious detached homes and townhouses.”

southseacompany

“60% of Canadians worried about inflation in 2021: CIBC”, BNN Bloomberg video
https://www.bnnbloomberg.ca/60-of-canadians-worried-about-inflation-in-2021-cibc-1.1541942

“The study found that 60% of Canadians listed inflation and the rising costs of goods as their greatest financial concern over the course of the next year”

“Only 24% of respondents said they believe their financial situation will improve in 2021, down from 32% in 2019. More than three-quarters of respondents (78%) said they were concerned about a possible economic downturn amid recovery efforts.”

southseacompany

“The inflation trap facing people holding bonds, GICs and savings”, Globe & Mail
https://www.theglobeandmail.com/investing/markets/inside-the-market/article-the-inflation-trap-facing-people-holding-bonds-gics-and-savings/

“A recent forecast from Capital Economics calls for an inflation rate above 2 per cent for most of next year, and then a dip in 2022. Economic activity will be subdued next year, even with a vaccine for COVID-19 being distributed. But vast amounts of government money have poured into the economy to sustain activity, and that could prove to be inflationary.

“Rates in the bond market could move higher next year, but some economists expect the Bank of Canada will keep its trendsetting overnight rate at just 0.25 per cent throughout 2021”

paulb
Dave

Solid December numbers.

Oracle

FYI

If you’re on twitter and are bewildered at some opinions, know this:

Many accounts are AI operated for the elite narrative.

Others are paid companies hiring people overseas to post a certain narrative.

There is no ‘Cheryl Adams’ tweeting how So and so government did a great job handling this pandemic.

Paid + AI versus the People.

Shut It Down Already (original)

Paranoia is a terrible thing to waste.

Best place on meth

Twatter?

Is that the site that bans people from telling the truth just because they’re a “private company and they can”?

The Nazis and Soviets would have loved to have a tool like Twatter at their disposal.

Communist China doesn’t need a domestic tool like this because they have Twatter and Dorsey working for them.

Shut It Down Already (original)

No. It’s the site that bans people who agreed to T&C’s which they don’t follow. Trump is next, just as soon as he loses his status as a world leader in 3 weeks time.

Ad hoc

B.C. court rejects challenge of U.S. forfeiture order for properties linked to $325 million stock fraud
https://vancouversun.com/business/b-c-court-rejects-challenge-of-u-s-forfeiture-order-for-properties-linked-to-325-million-stock-fraud

Yet another criminal laundering illicit funds into real estate and taking advantage of our lack of property ownership transparency in BC.

Big Bear
Werner Stein

“There’s nothing newsworthy about stupidity.”

That is a stupid thing to say, although not surprising where it is coming from.

Most of the news is about stupidity.

xyz

Just saw a big demonstration downtown….police escort etc. against covid shutdown….fear etc. More notable is the absence of coverage in the media. They are obviously more interested in peddling their narrative.

Shut It Down Already (original)

There’s nothing newsworthy about stupidity.

Ad hoc

Burnaby looks to drop $22,000 sewer extension fee, refund homeowners
https://www.burnabynow.com/local-news/burnaby-looks-to-drop-22000-sewer-extension-fee-refund-homeowners-3214243

so it appears one can fight city hall and win.

realist

Greetings of the season to all. My thanks to you for your contributions of interest to this blog. May you find 2021 to be a safe, healthy, prosperous, and happier New Year.

Spec

This House’s Amazing Christmas Lights Display Is Set To The ‘Coffee Is For Closers’ Speech from ‘Glengarry Glen Ross’ Just for you, Dave. Merry Xmess. https://clickhole.com/this-house-s-amazing-christmas-lights-display-is-set-to-1825126424/

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The Ghost of Blake.

I wear the chain I forged in life. I made it, link by link and yard by yard, while on Earth, and now I will never be rid of it, any more than you will ever be rid of yours!

Dave

I feel the same way about luxury watches.

Dave

Excellent display. Teach the neighbours a think or two.