Vancouver's Real Estate Market

[jing]

IIRC Gululu admitted to being born and raised here in another thread somewhere. Did you revoke your Canadian citizenship and move back to China, then decide to come back here again?

[westopher]

Originally Posted by Gululu

I understand your frustrations. But let me clarify something 1. I'm not a Canadian citizen (Im PR and don't ever plan on obtaining citizenship). 2. Your government still owes me money so I can't just stand up and leave yet.

also you need change your perspective. I live a easy and comfortable life both here and in China. It's more of me taking a sacrifice living in a boring underdeveloped country like canada more than anything else.

Whats it like to have everyone who has ever heard you speak think you are an entitled, arrogant piece of shit?

[EmperorIS]

Vancouverites and westerners in general needs to stop patting yourself on the back just because you were lucky and privileged enough to live here first. There are many things you can learn from other places as well. Such as having a better fucking transit system you fucking No voters.

[Devastator]

Originally Posted by EmperorIS

Vancouverites and westerners in general needs to stop patting yourself on the back just because you were lucky and privileged enough to live here first. There are many things you can learn from other places as well. Such as having a better fucking transit system you fucking No voters.

I have no problem contributing to a better transit system, But Translink has proven time and time again that they mismanage and mishandle taxpayers money with nothing to show for it. Until things start to turn around starting from within themselves. Taxpayers won't open their wallets just to see Translink spend it like they just won the lottery year after year.

There are other avenues for Translink such as getting funding from the corporate world.

[bobbinka]

Originally Posted by Devastator

There are other avenues for Translink such as getting funding from the corporate world.

guess who the extra cost to the corporation gets passed on to. or how about they add it to your property tax? another gas tax? you're paying one way or another.

[Devastator]

Originally Posted by bobbinka

guess who the extra cost to the corporation gets passed on to. or how about they add it to your property tax? another gas tax? you're paying one way or another.

That's OK, now you have a choice to not use such corporation that do that to their customers. By corporations I mean private companies like Safeway, pricemart, rogers, ledcor, etc.

[CP.AR]

diu la sing. (rough translation = "Fuck Woman star"?)
what has this thread become.


this is why I'm in Alaska. to get away from y'all argumentations

[4444]

Originally Posted by Gululu

I understand your frustrations. But let me clarify something 1. I'm not a Canadian citizen (Im PR and don't ever plan on obtaining citizenship). 2. Your government still owes me money so I can't just stand up and leave yet.

also you need change your perspective. I live a easy and comfortable life both here and in China. It's more of me taking a sacrifice living in a boring underdeveloped country like canada more than anything else.

i was recently in shanghai... the nice bits, too (there on business, dinners on the waterfront, etc.) - COULD NOT WAIT TO GET OUT OF THERE!

granted it is rainy season, but man, what a shit hole.

mind you, i find vancouver boring as can be, so it really is just a 'to each, their own'.

you don't deserve to be let into vancouver - ur the kind of person that is ruining that city, a city that was way better when i first moved there in the late 90's, but then again, you're probably just trolling

[4444]

Fucking hell, it's articles like this that prove that the MSM is full of idiots:



to put things into perspective, technically, this is correct. it's also the most simple form of economics. Weak economy = weaken your currency make your exports more attractive.

unfortunately, Canada's manufacturing base has eroded significantly since 2008, so any rebound will be muted compared to what could have been.

also, seriously, "people selling property to overseas buyers" - ARE YOU FUCKING KIDDING ME, selling real estate is a one time transaction, it is not a wealth generator, it is not a way to grow an economy... but to vancouverites and the MSM, it's the only industry there is!

i feel sorry for the average idiot on the street that reads this and thinks all is well. you shouldn't put a positive spin on everything, the loonie is weak b/c rates have been cut to try to stimulate a shrinking economy. a recession is just around the corner... there is little positive here.

also, note a HUGE downside here - input costs are going up, all goods will be more expensive, gasoline (as oil is priced in USD) will be way higher in Canada vs. US now... no, there is little good news right now in canada.

See the below at how Canada turned from a net exporter to importer... no silver lining (couldn't quickly find more up to date figures, but shows the post 2008 story)

http://cdn.tradingeconomics.com/char...1507310000&z=2




Lower loonie could turn into good news, say experts

Lower loonie could turn into good news, say experts

Economists point to exporters, tourist industry, people selling property to overseas buyers


The Canadian dollar dropped to its lowest point in more than a decade Wednesday, hitting 76.7 cents US. But some experts say a weak loonie can make for strong investment opportunities.

The loonie has been on a downward slide since last summer, with the weakening price of oil, and analysts say the pace of decline has been accelerated by the Bank of Canada’s decision last week to lower its benchmark interest rate.

Paul Beaudry, a professor of economics at UBC’s Vancouver School of Economics, said some Canadian businesses traditionally thrive when the loonie is in a weak position against the U.S. dollar, such as those in exporting and tourism. The U.S. is both the largest trade partner and top source of tourists for Canada.

“Exporters that can actually take advantage of this low loonie, that’s an aspect where small investors can take advantage by investing in those companies,” Beaudry said.

Prices are down for commodities such as oil and gold, but Beaudry said there could be investment opportunities in Canadian manufacturing and high-tech firms, especially ones that sell to the U.S. For such a play to really pay off, he said, the investor would be betting on an extended period of a low Canadian dollar, which he predicts is likely the case “for a quite a long haul.”

Beaudry’s colleague, Geoffrey Newman, also a professor of economics, agreed that the dollar could remain low for a period of time, and that it could yield opportunities.

Newman expects the loonie could remain low for “a year or more,” and said it could decline further.

“The dollar may jump occasionally,” Newman said, “but any increase strikes me as temporary, and I’d say the trend is downward.”

One thing that could cause the dollar to rise, Newman said, would be a surge in the price of oil.

“Oil is so dominant in this economy, that’s the problem,” he said.

If the weak loonie provides an opportunity for a shift away from Canada’s reliance on commodities and toward developing other sectors, such as high-tech, manufacturing, or food, Newman said, that could be good for “the broader export potential of Canada in the longer run.”

However, Werner Antweiler, professor of economics from UBC’s Sauder School of Business, declined to provide a forecast for the loonie.

“I’m like the weatherman. If I say it’s going to rain tomorrow, the sun is going to shine, and vice versa,” Antweiler said. “And I consider myself an expert on exchange rates, but I would not even tell you what my prediction is.”

Because exchange rates are influenced by a range of factors and are difficult to predict accurately, Antweiler said he advises “extreme caution” for smaller investors who might try to profit from the fluctuating value of the dollar.

“For small-time investors to take advantage of a falling or rising exchange rate is virtually impossible. Even sophisticated investors would not want to go there. It’s a very volatile environment,” he said. “People burn their fingers with this very quickly ... It’s very close to gambling.”

One group that could benefit from the declining loonie includes property owners who might be looking to sell, said Thomas Davidoff, associate professor of economics at the Sauder School.

“I would say those who have invested in real estate for which there is significant foreign demand should see benefits from the weak loonie,” Davidoff said, explaining that a low Canadian dollar can make property appear more appealing to a prospective overseas buyer,

[Carl Johnson]

Originally Posted by 4444

Fucking hell, it's articles like this that prove that the MSM is full of idiots:



to put things into perspective, technically, this is correct. it's also the most simple form of economics. Weak economy = weaken your currency make your exports more attractive.

unfortunately, Canada's manufacturing base has eroded significantly since 2008, so any rebound will be muted compared to what could have been.

also, seriously, "people selling property to overseas buyers" - ARE YOU FUCKING KIDDING ME, selling real estate is a one time transaction, it is not a wealth generator, it is not a way to grow an economy... but to vancouverites and the MSM, it's the only industry there is!

i feel sorry for the average idiot on the street that reads this and thinks all is well. you shouldn't put a positive spin on everything, the loonie is weak b/c rates have been cut to try to stimulate a shrinking economy. a recession is just around the corner... there is little positive here.

also, note a HUGE downside here - input costs are going up, all goods will be more expensive, gasoline (as oil is priced in USD) will be way higher in Canada vs. US now... no, there is little good news right now in canada.

See the below at how Canada turned from a net exporter to importer... no silver lining (couldn't quickly find more up to date figures, but shows the post 2008 story)

http://cdn.tradingeconomics.com/char...1507310000&z=2




Lower loonie could turn into good news, say experts

Lower loonie could turn into good news, say experts

Economists point to exporters, tourist industry, people selling property to overseas buyers


The Canadian dollar dropped to its lowest point in more than a decade Wednesday, hitting 76.7 cents US. But some experts say a weak loonie can make for strong investment opportunities.

The loonie has been on a downward slide since last summer, with the weakening price of oil, and analysts say the pace of decline has been accelerated by the Bank of Canada’s decision last week to lower its benchmark interest rate.

Paul Beaudry, a professor of economics at UBC’s Vancouver School of Economics, said some Canadian businesses traditionally thrive when the loonie is in a weak position against the U.S. dollar, such as those in exporting and tourism. The U.S. is both the largest trade partner and top source of tourists for Canada.

“Exporters that can actually take advantage of this low loonie, that’s an aspect where small investors can take advantage by investing in those companies,” Beaudry said.

Prices are down for commodities such as oil and gold, but Beaudry said there could be investment opportunities in Canadian manufacturing and high-tech firms, especially ones that sell to the U.S. For such a play to really pay off, he said, the investor would be betting on an extended period of a low Canadian dollar, which he predicts is likely the case “for a quite a long haul.”

Beaudry’s colleague, Geoffrey Newman, also a professor of economics, agreed that the dollar could remain low for a period of time, and that it could yield opportunities.

Newman expects the loonie could remain low for “a year or more,” and said it could decline further.

“The dollar may jump occasionally,” Newman said, “but any increase strikes me as temporary, and I’d say the trend is downward.”

One thing that could cause the dollar to rise, Newman said, would be a surge in the price of oil.

“Oil is so dominant in this economy, that’s the problem,” he said.

If the weak loonie provides an opportunity for a shift away from Canada’s reliance on commodities and toward developing other sectors, such as high-tech, manufacturing, or food, Newman said, that could be good for “the broader export potential of Canada in the longer run.”

However, Werner Antweiler, professor of economics from UBC’s Sauder School of Business, declined to provide a forecast for the loonie.

“I’m like the weatherman. If I say it’s going to rain tomorrow, the sun is going to shine, and vice versa,” Antweiler said. “And I consider myself an expert on exchange rates, but I would not even tell you what my prediction is.”

Because exchange rates are influenced by a range of factors and are difficult to predict accurately, Antweiler said he advises “extreme caution” for smaller investors who might try to profit from the fluctuating value of the dollar.

“For small-time investors to take advantage of a falling or rising exchange rate is virtually impossible. Even sophisticated investors would not want to go there. It’s a very volatile environment,” he said. “People burn their fingers with this very quickly ... It’s very close to gambling.”

One group that could benefit from the declining loonie includes property owners who might be looking to sell, said Thomas Davidoff, associate professor of economics at the Sauder School.

“I would say those who have invested in real estate for which there is significant foreign demand should see benefits from the weak loonie,” Davidoff said, explaining that a low Canadian dollar can make property appear more appealing to a prospective overseas buyer,

and what would you do if you were in charge of bank of canada? wait for a full-blown recession then start cutting rates? the 2 rate cuts since the beginning this year, if anything, shows the central bank is being proactive. the old adage "don't fight the Fed" comes to mind. bank of canada is much more comfortable with a little bit of inflation like the input costs increase as you said than deflation.

the thread was created less than 3 years ago predicting a real estate bubble waiting to burst, i wonder when the doomsayers are going to come forward and admit they have been grossly wrong. oh wait i know what you are going to say, i am just early, wait for it. but you know what, it doesn't matter; if you are going to make a market call you have get both the timing and direction right.

as i said previously, even if vancouver real estate market crash and burn tomorrow all the naysayers are still wrong when their predictions are way too premature and uncalled for.

on the other hand, am i suggesting to go out and buy a 2+ million dollar house? hell no. i am entirely for living within your financial means, carrying no debt (except mortgage/student loan) and save as much money as possible. yet, a stable place you can call home, where you have tranquil peace of mind knowing you will not be evicted by a landlord over the petty issues, is an investment worth pursuing.

[jasonturbo]

Mainlanders ruin everything, this thread is no exception lol

[SumAznGuy]

Originally Posted by Carl Johnson

the thread was created less than 3 years ago predicting a real estate bubble waiting to burst, i wonder when the doomsayers are going to come forward and admit they have been grossly wrong. oh wait i know what you are going to say, i am just early, wait for it. but you know what, it doesn't matter; if you are going to make a market call you have get both the timing and direction right.

This is the second of such threads. The first one was way before the 2010 olympics. Actually, I think it may have been 2007 and some people were saying they were correct when the market adjusted in 08/09.

Originally Posted by jasonturbo

Mainlanders ruin everything, this thread is no exception lol

Sorry, this thread was doomed from the get go since it was created as a troll thread.

[multicartual]

Originally Posted by jasonturbo

Mainlanders ruin everything, this thread is no exception lol

You know what we should do?


Let's hang out with some mainlanders.


Seriously.


I have never hung out with mainlanders. Is there any way through Revscene that we could arrange a night of going to a restaurant, having a few drinks, and maybe playing some pool or doing karaoke after?


Racism exists because there are no in-roads to each others' cultures, just this divide between neighborhoods and everyone pretending that multicartualism works as good as an E36 with a five litre.

[GS8]

Originally Posted by 4444

Fucking hell, it's articles like this that prove that the MSM is full of idiots:

Not really anything new. I mean I'm pretty scared of a recession yet it isn't getting a fair amount of coverage in the news.

But they sure have enough time to talk about TWITTER FEUDS!

MSM agenda is pretty apparent. I'm not a conspiracy nut and I can see that the whole point of the MSM is to serve the corporate overseers to dumb us down so we don't ask questions. Publish shitty articles based on conjecture and speculation and when they decide to address us questioners, they only channel the SJW crowd.

Fuck the media

[asian_XL]

Originally Posted by multicartual

You know what we should do?


Let's hang out with some mainlanders.


Seriously.


I have never hung out with mainlanders. Is there any way through Revscene that we could arrange a night of going to a restaurant, having a few drinks, and maybe playing some pool or doing karaoke after?


Racism exists because there are no in-roads to each others' cultures, just this divide between neighborhoods and everyone pretending that multicartualism works as good as an E36 with a five litre.

They hang out with you base on what car you drive and act like mainlander. You need a R8, some Chinese slippers, crazy hair, and smoke double happiness.

[Hehe]

Originally Posted by Carl Johnson

and what would you do if you were in charge of bank of canada? wait for a full-blown recession then start cutting rates?

They know the economy is bad, they know there is a bubble in the market due for correction, what they could have done is to trigger a controlled market collapse (by raising rates IMHO) by planning it.

The bubble will be gone, the economy would be in shit, but everything would eventually return once the dust is settled and the sacrifice is justifiable if you know at least the outcome is within your control and estimate.

What BoC is doing now is basically pushing the bubble bigger and hoping it won't pop and it would deflate by itself somehow safely. But what happens if the bubble burst without any planning? The bubble would still be gone, and economy would still be in shit, the only difference is that BoC can no longer control and estimate the aftermath.

It often takes guts to do the right thing, even if it's not what everyone wants.

[4444]

Originally Posted by Carl Johnson

and what would you do if you were in charge of bank of canada? wait for a full-blown recession then start cutting rates? the 2 rate cuts since the beginning this year, if anything, shows the central bank is being proactive. the old adage "don't fight the Fed" comes to mind. bank of canada is much more comfortable with a little bit of inflation like the input costs increase as you said than deflation.

the thread was created less than 3 years ago predicting a real estate bubble waiting to burst, i wonder when the doomsayers are going to come forward and admit they have been grossly wrong. oh wait i know what you are going to say, i am just early, wait for it. but you know what, it doesn't matter; if you are going to make a market call you have get both the timing and direction right.

as i said previously, even if vancouver real estate market crash and burn tomorrow all the naysayers are still wrong when their predictions are way too premature and uncalled for.

on the other hand, am i suggesting to go out and buy a 2+ million dollar house? hell no. i am entirely for living within your financial means, carrying no debt (except mortgage/student loan) and save as much money as possible. yet, a stable place you can call home, where you have tranquil peace of mind knowing you will not be evicted by a landlord over the petty issues, is an investment worth pursuing.

you totally missed the point, the MSM is spinning that all the mess Canada is in is a positive... Canada is in a mess.

to answer your question, BoC's doing exactly what they're supposed to - the problem is that the government isn't living up to their side.

if i were in charge, this is what i would have done:

as money got cheaper due to BoC decreasing rates, make mortgages harder to obtain (don't prop up housing anymore - it is clearly unaffordable to the average canadian), but allow businesses cheaper and easier money to grow

i also would have diversified my economy, given tax credits to manufacturing, trying to keep as much of the mfg base as possible...

but the problem isn't the today, it was made in 2008 when canada didn't capitulate by pumping the two industries that will kill it today (real estate and commodities), whilst killing the one industry that should save it today (manufacturing).

[CharlesInCharge]

Reading this thread will give you a lower IQ because of the indoctrinated propaganda that is repeated here.

Spoiler!

THE BANKSTER AGENDA


All money is created in the form of debt to the privately owned banking cartel.

Imagine if you could create money out of thin air. Imagine you have the credit cards of all the nations in your pocket.

Your first impulse is to lend money to your nominees so they can buy most of the world's real wealth for you.

Your second impulse is to establish a totalitarian system ("world government" "globalization") to prevent any nation from challenging this system or defaulting on their "debt" to you.

To make nations accept "world government," you need to weaken them by having them fight among themselves, run up huge debts for armaments (which you will sell them), kill off the cream of their manhood, and become demoralized and decadent.

You accomplish this through your ownership of politicians and the press and your control of MI-6, CIA, Mossad who carry out terror and assassinations for you. This is the real history of the last 300 years.

"World government" is really about using debt to enslave us; it is an international loan collection agency. Naturally they shroud this with talk about tolerance, human rights, fighting poverty and preventing war.

Specially 4444's posts where his end argument to the truth is to call it a conspiracy . Here I explain the real reason behind the doubling of housing prices.
http://www.revscene.net/forums/70349...exodus-10.html

edit
My prediction is that from Sept 22 - Oct 22 something very significant will happen and this will greatly effect our economy to crash... currency to housing.

[4444]

Originally Posted by CharlesInCharge

Reading this thread will give you a lower IQ because of the indoctrinated propaganda that is repeated here.

Spoiler!

THE BANKSTER AGENDA


All money is created in the form of debt to the privately owned banking cartel.

Imagine if you could create money out of thin air. Imagine you have the credit cards of all the nations in your pocket.

Your first impulse is to lend money to your nominees so they can buy most of the world's real wealth for you.

Your second impulse is to establish a totalitarian system ("world government" "globalization") to prevent any nation from challenging this system or defaulting on their "debt" to you.

To make nations accept "world government," you need to weaken them by having them fight among themselves, run up huge debts for armaments (which you will sell them), kill off the cream of their manhood, and become demoralized and decadent.

You accomplish this through your ownership of politicians and the press and your control of MI-6, CIA, Mossad who carry out terror and assassinations for you. This is the real history of the last 300 years.

"World government" is really about using debt to enslave us; it is an international loan collection agency. Naturally they shroud this with talk about tolerance, human rights, fighting poverty and preventing war.

Specially 4444's posts where his end argument to the truth is to call it a conspiracy . Here I explain the real reason behind the doubling of housing prices.
http://www.revscene.net/forums/70349...exodus-10.html

edit
My prediction is that from Sept 22 - Oct 22 something very significant will happen and this will greatly effect our economy to crash... currency to housing.

what are you talking about cracker jack?

[CharlesInCharge]

English, do you speak it?

I missed the last paragraph in my earlier post.

A quote from a 1924 edition of the American Banker's Association Digest sums up what is currently happening. Keep this in mind when you vote.

"When, through the process of law, the common people lose their homes, they will become more docile and more easily governed through the strong arm of government applied by a central power of wealth under leading financiers. These truths are well known among our principal men who are now engaged in forming imperialism to govern the world. By dividing the voter through the political party system, we can get them to expend their energies in fighting for questions of no importance. "

[4444]

Originally Posted by CharlesInCharge

English, do you speak it?

you've hit my limit, i can't even respond to you anymore CiC...

[multicartual]

Originally Posted by asian_XL

They hang out with you base on what car you drive and act like mainlander. You need a R8, some Chinese slippers, crazy hair, and smoke double happiness.

Where do I get these Chinese slippers???

[TOS'd]

Originally Posted by multicartual

Where do I get these Chinese slippers???

you buy them from kung shoes

[StylinRed]

This may interest some, the Director of the NCA in London (UK FBI) has stated housing prices are on the rise and being skewed from their actual value due to foreign criminals laundering money and driving up the prices

Cash from crime lords drives up house prices | The Times
&
Foreign criminals 'driving up UK house prices' - BBC News

[Mike.L]

Originally Posted by SumAznGuy

This is the second of such threads. The first one was way before the 2010 olympics. Actually, I think it may have been 2007 and some people were saying they were correct when the market adjusted in 08/09.
.

It wasn't really hard to predict, you are giving houses to people who couldn't afford them but nobody cared because the economy was doing so well and everyone was making money hand over fist.

Canada is heading in the same direction, interest rates are dropping and it's cheaper to borrow making it more appealing to own real estate and misc. goods at a time when the average house hold is already 150% overleveraged.

What do you think will happen if we go through tough times or if interest rates go up so you have less money because you have to make more interest payments.