All posts by VCI Admin

Friday Free-for-all! March 4th 2016

The weekend is almost here and that means it’s time for another Friday Free-for-all!

This is our standard end of the week news round up and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:

Unconditional offers the new normal
$1 million over asking
Bubbles bursting everywhere
PC city councillor not PC
New York vs Vancouver
Kleptocracy Tour

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Mark Carney vs. The Race below Zero

Mark Carney (why does that name sound familiar?), The Current Head of the Bank of England is speaking out against negative interest rates.

While defending ‘monetary stimulus’ he points out that negative interest rates haven’t done much to improve economies and is instead a game of hot potato where everyone loses:

So negative interest rates are effective in only one way: via the exchange rate – or as he says, “via beggar-thy-neighbor” – which might be “an attractive route to boost activity” for an individual country. “But for the world as a whole,” this “transfer of demand weakness elsewhere is ultimately a zero sum game.

Read the full article over at business insider.

More propaganda from the pro-renting cabal

The highly secretive pro-renting cabal that runs the local media have another article out comparing renting to owning with an obvious preference given to renting:

Not only did renting give her more options for places, put an extra $700 a month in her pocket and get her off the hook for repairs, maintenance, property taxes and the day-to-day responsibilities of ownership, it also gave her more options to live her life.

“If I had purchased in Vancouver, my future for the next many years is set (in stone),” said Yee, who is now happily living in a 685-square-foot, two-bedroom laneway house with her partner in her dream neighbourhood of Mount Pleasant for $1,650 a month.

“With renting, I can do whatever I want. It’s so freeing and valuable to me.”

They also paint ownership in a negative light:

Putting all your eggs in one very expensive and non-liquid item over the expense of other assets doesn’t make financial sense, say some experts.

Hannah says unprepared homeowners can end up more stressed and in debt than renters. Studies have also shown homeowners aren’t happier than renters. They have less leisure time and derive more pain than joy from their homes.

Will the media stop at nothing in their portrayal of renting as a superior life choice?

Read the full article here. Thanks to southseacompany for the link. Krystal Yee runs a personal finance blog that can be found at givemebackmyfivebucks.com.

Friday Free-for-all! Feb 26 2016

It’s time for another Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

BOC raises flag on debt
Local buyers pay $750k over ask
70s vancouver tourism ad
January sales hit 6 year high
A short or long term rental?
Shorter border line-ups
Inflation up, spending down

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

The 140 sq ft apartment

‘Microlofts’ aren’t a new thing, but they seem to be getting smaller.

Enter the ‘Nanosuite’.

UBC has announced they will will be building 140 square foot apartments for student housing.

That’s still bigger than living in a van, but not everyone seems enchanted with the idea.

Reaction was mixed.

“I think they’re pretty cool,” said international economics student Raj Singh, 19.

“They have many things that you might not get in campus residences, for example a private washroom. But I’m like a really messy person, so if I were to move in there, it would be a disaster.”

“They’re very small,” said economics student Chun Lok Tse, 18.

“It’s kind of strange to not have a table and a bed at the same time. I’ve seen the prices online, $675 a month. For not a lot more you can get a better room, which shares a kitchen with three other people. I’d much prefer those to these.”

His friend Kennedee Fung agreed.

“Where I’m from in Asia, houses are famous for being small,” she said.

“And this is even smaller than the ones we usually live in. So it’s kind of ridiculous.

“I really don’t like the idea that you have to pull down your bed every time you want to work or sleep, I think that is quite a hassle. Also there isn’t much storage space.

“Although you have a kitchen and a bathroom, as an international student, you have suitcases, and you wouldn’t know where to put them.”

Read the full article over at the Vancouver Sun.