Friday Free-for-all! October 14th 2016

It’s the end of another week!

Let’s do another Friday free-for-all, 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:

RBC: sfh out of reach
Slower growth or reversal
Blissful ignorance stage
Big market swings
Interest rate optimism
Change and pain
Condo prices dropping

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

Capitulation time

Some people say there are three stages to a bubble: denial, concern and capitulation.  Have we reached the last stage yet?

This comment from YLTNboomerang:

I’m almost ready to call this bubble done, my evidence?…my historically poor timing! Family is getting flown down to TX next month for interviews and to check out RE/Lifestyle that Houston offers. If we finally pull the trigger and move South, even for tremendously more dough, I will post it and that will be the point that YVR becomes cheap cause as a bear since 2007 I can’t get this F*&$er timed right. BTW, I already stipulated a “Trump clause”, if through regime change foreign workers are kicked out, I get 3 years pay and no non-compete plus relocation costs.

Any one else hit the capitulation stage yet?

Non-bank mortgage lenders don’t like new rules

It’s looking like lending for real estate is going to get a bit more pricy as Ottawa tightens rules and seeks to offload some risk.  Many lenders in this Globe and Mail article feel blindsided by the change and complain that it’s unfair as they will not be able to compete with the banks:

Non-bank lenders left reeling by new federal mortgage rules

The new rules kick in November 30th after which lenders will not be able to insure mortgages with amortization beyond 25 years or on homes over $1million or rental properties. I guess we’re about to find out the price of risk in these no longer covered categories.

Friday Free-for-all! Oct 7th 2016

Well, it’s the end of another beautiful work-week 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:

Vancouver down for the count
Sales plunge 33%
AirBnb registration system
Government wants your opinion
IMF lowers canadian economic outlook
Foreign buyers almost disappeared
2 years from retirement, buy a house?
Why would anyone get into the market right now?
West Van vacancy tax

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

Four major changes to Canadian housing rules

Vancouver home sales have plunged by about a third in the last month or so, this been largely blamed on the foreign buyer tax.

But that tax focused on the city of Vancouver isn’t the only change to the real estate market, new rules and changes have the potential to affect the wider region and the nation as a whole.  Southseacompany posted this summary from a Globe and Mail article  in the comments:

“Four major changes to Canada’s housing rules”, Globe & Mail

1. Expanding a mortgage rate stress test to all insured mortgages.

2. As of Nov. 30, the government will impose new restrictions on when it will provide insurance for low-ratio mortgages.

3. New reporting rules for the primary residence capital gains exemption.

4. The government is launching consultations on lender risk sharing.

As Canadian Mortgage Trends puts it, is this the last nail in the coffin?

NOTE: disagreements are fine, but repetitive personal attacks and insults to other posters will get you an IP ban.