Category Archives: opinion

Number 1 Victim

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.

CMHC: Pandemic will affect housing market until 2022

They expect a 25% drop in some regions:

Canada’s national housing agency says the number of new homes being built and sold will remain below the levels they were at before COVID-19 until 2022 at least, and prices won’t get back to where they were for another two years either.

In a special report, the Canada Mortgage and Housing Corporation said Wednesday that the COVID-19 pandemic will lead to a “historic recession in 2020,” which will lead to “significant falls in indicators of the housing market.”

Just like the flu, but more so!

Slowdown to affect Real Estate Sales

We’re living in interesting time. Interest rates are super-low and going lower which should drive down the cost of a mortgage, but at the same time we have a very unusual economic slowdown across the board.

Some people even thing this could have an effect on the Vancouver real estate market:

” Interest-rate drops usually fuel housing sales, but this time they will be more than offset by the “unprecedented paralysis of economic and social activity” during the COVID-19 pandemic, causing B.C. homes sales to drop this spring, the B.C. Real Estate Association predicted March 17.”

“All four scenarios predicted home sales in the province would drop in the spring and early summer. The market would then likely rebound in the second half of the year “contingent on the outbreak resolving.” However, only one of the scenarios found that home sales in the province would recover to a point of activity higher than if there had been no pandemic, with the other three forecasting a more muted recovery”

read the full article here.

Schiller: That old 2006 mentality

Southseacompany points out that the economist Robert Schiller has some thoughts on the economy and a bit of history repeating:

“Housing is driven by narratives. Before 2007, the narrative was flipping houses [and the belief that] home prices have always gone up,” the Yale economist said during an interview with Yahoo Finance’s YFi PM. “Then, after the Great Recession, it was tragic narratives about people who lost their home, or dangers of borrowing too much or lending too much. It’s been 10 years since the crisis. Now, those narratives are starting to be forgotten.”

Read the full article here.