Friday Free-for-all!

Hi, how are you?

It’s the end of another week and that means 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:

Small tweak to downpayment
Illicit financial flows
Richmond HPI up 24% in 1 year
Free Rent! (in Calgary)
Tourism set to break records
New rules won’t cool Vancouver

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

(comment voting will be back in the new year)

Resolve to make 2016 the year of the Emergency Fund.

What’s in your emergency fund? Do you have cash on hand to get your through unexpected lean times?

Rob Carrick over at the Globe and Mail think’s it’s time to focus on building your emergency fund in 2016.

Now seems an opportune time to return to the emergency fund theme. The Bank of Canada indicated last week that it would consider using negative interest rates, an extraordinary measure already in use in some European countries, if the economy worsens significantly. Governor Stephen Poloz believes the makings of a recovery are in place, and he doesn’t expect to have to resort to negative rates. And yet, oil prices last week hit their lowest point in six years.

I took a look at our household emergency fund recently and decided we needed to up our game. How about you?

Definition of an emergency fund: Money sitting in a high-interest savings account at a bank or credit union. These accounts are insulated from the ups and downs of the stock and bond markets, and easily accessible online. Interest rates are pitiful on these accounts, but the emphasis is on safety over returns.

Read the full article here.

3.5% Fed rate in 2017?

Here’s a prediction:

“US interest rates will rise – and hit 3.5pc by the end of 2017”, The Telegraph UK

“A momentous change looms large in the US. It seems highly likely that the US Federal Reserve will raise interest rates this week.”

“What makes the probable rise in interest rates so significant is not the size of the increase. The rate rise is likely to be a mere 0.25pc. But this would represent the first rate increase for nearly 10 years. Moreover, we all know that once rates have begun to rise, usually the process does not stop after only one increase.”

Does anyone believe we’ll see a rate increase by the Fed from 0.25% to 3.5% in the next two years?

Friday Free-for-all!

It’s that time of the week again…

It’s Friday Free-for-all time!

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:

no quick end to the boom
risk from heavy mortgage debt
Poloz tells Trudeau to spend
26% of Ontario struggles to afford homes
move to Austin?

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

Property tax warnings sent out.

Space889 added a link to this story: BC assessment is sending out warning letters to a few thousand property owners whose property tax is going up.

“Increases of 15 to 25 per cent will be typical for single-family homes in Vancouver, the North Shore, Burnaby, Tri-Cities, New Westminster, Richmond and Surrey,” says B.C. Assessor Jason Grant.

It should come as no surprise that as property values rise their taxes may too, but it’s worth noting that doesn’t necessarily mean more money in government coffers.

That’s because property taxes here are based on a properties value in comparison to its neighbors, not the properties absolute value.

Why so negative?

As long as our economy remains strong it shouldn’t be necessary to implement negative interest rates.

A link from southseacompany:

Bank of Canada: rates can go to -0.5 percent, but no need now

“The Bank of Canada estimated on Tuesday that it could if needed set its benchmark interest rate as low as minus 0.5 percent, but stressed that the economy was recovering as expected and it did not expect to use such unconventional monetary policy.”

Friday Free-for-all!

Another weekend looms!

Inventory is at rock bottom levels!

We have temporarily turned off comment voting!

How you all doing?

What if this weekend we talked about the only thing that matters: data

Without data the causes and solutions to the Vancouver housing bubble are subject to endless bickering that devolves into nonsense.

WITH data the causes and solutions to the Vancouver housing bubble will also be subject to endless bickering, but at least the dabate could be based on facts.

That would be progress.

Post your thoughts in the comment section below and have a very good weekend!

Why are mortgage rates rising?

Southseacompany linked to this article: Why are Canadian mortgage rates rising?

Mortgage rates have inched up slightly lately for apparently no real reason, what’s with that?

Canadian mortgage rates moved higher again last week but it wasn’t because of new economic data or rising bond yields. Instead, one large lender raised rates and everyone followed, repeating a cycle that we have seen several times lately.

Read the full article here for the full analysis.

Friday Free-for-all! November 20th 2015

Well, well, well…

you made it to the end of another work week and that means it’s time for another Friday Free-for-all here on VCI!

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:

2 more years of price gains?
Will we get some good mexican restaurants?
Million dollar Canmore
‘Millennial blindness’
Wealthy oasis with slowing economy
Teck to shed 1000 jobs here
Lofty prices in historical context
20% drop would be ‘devastating’

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