REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

Reply
 
Thread Tools
Old 11-29-2015, 11:08 PM   #4326
Performance Moderator
 
68style's Avatar
 
Join Date: Jun 2001
Location: Vancouver
Posts: 6,367
Thanked 2,628 Times in 754 Posts
I was in Shenzhen 3 weeks ago and sitting at a cafe all these locals were bitching away about how they can't afford a place to live cuz all the rich China people keep buying everything up.

I was highly amused that I was in China on the other side of the planet and they were bitching about the exact same problem as here lol

Kind of brought things full circle
Advertisement
68style is online now  
Reply With Quote
This post thanked by:
Old 11-29-2015, 11:52 PM   #4327
I contribute to threads in the offtopic forum
 
Join Date: Jun 2006
Location: not vancouver
Posts: 2,647
Thanked 1,936 Times in 764 Posts
Quote:
Originally Posted by Z3guy View Post
Ok 4444......haha! I wonder who all these platinum club gold madallion madarin speaking realtors are selling too? Must be local caucausians lol! Yes that is anecdotal info. So are the 7 houses that sold in my neighbourhood over the past 6 months all were bought by families from China specifically

Stick to your fundamentals and just rent......
wot?

where did this passive aggressive / childish post come from?

i'm happy as a clam sticking with my fundamentals, renting a beautiful place, growing a massive asset portfolio, and generally enjoying life rather than worrying about which way 1 asset class in 1 city is going.

edit: also, your claim that mandarian realtors selling to mandarian speakers = proof that all prices are based on the china impact are bunk. Yet more anecdotal evidence, but that's all we have. an ex of mine's parents are from china, moved to vancouver 30 years ago, they speak english to a level where you can just about understand what's going on, they came to canada with nothing, have worked damn hard and have made a success of their business in vancouver. they would only deal with mandarian realtors, speak mandarian daily to their friends, family, etc. if you heard them you'd claim they've just stepped off the plane with bags of cash, and whilst they have bags of cash, it's all locally earned through hard work.
my point is this, there is a china factor, but these little anecdotes of mandarian this and that mean shit all when you look at places like richmond which are almost entirely mandarian speaking now, yet the vast majority are canadian residents or citizens.

so, yes, i'll stick with fundamentals over anecdotes. I'll stick with diversification over 1 asset. i'll stick with cash flow over speculation.

you can say all you want that I'm missing out, but really, i'm not, i'm just making an educated decision based on my risk appetite plans for the future (plan to enjoy life, not worry about things outside of my control).

Last edited by 4444; 11-30-2015 at 02:35 AM.
4444 is offline  
Reply With Quote
Old 11-30-2015, 12:00 AM   #4328
I Will not Admit my Addiction to RS
 
Gululu's Avatar
 
Join Date: Feb 2013
Location: Shaughnessy
Posts: 564
Thanked 755 Times in 209 Posts
I was staying in some tier 3 city in china a month ago. and at a restaurant, the table next to mine, I overheard some woman saying her plan was to sell one of her apartment to buy a house in Vancouver and send her son to study there starting in 2016. basically if you own an apartments in any major city beijing shanghai shenzhen etc in china u automatically net worth 2 mil+ canadian. because housing is just so much more expensive in china than here. u really can't blame them for buying they are just doing the most logical thing.

edit
also canadian immigration policy is not favorable towards Chinese nationals for the past 2 yrs. prices could have been much higher should IIP not stopped. the rich chinese are not even coming to canada now. just so u know
Gululu is offline  
Reply With Quote
Old 11-30-2015, 05:19 AM   #4329
I contribute to threads in the offtopic forum
 
Join Date: Jun 2006
Location: not vancouver
Posts: 2,647
Thanked 1,936 Times in 764 Posts
i was in Mississauga earlier this year (what a dump).

My colleague (a Chinese Canadian) said that the Chinese were the cause of high real estate there.

Yet another unqualified opinion based on rhetoric, MSM, and anecdotal stories.

It's one of many factors, but just know that most people who make huge fortunes do two things:

1) They walk away from whatever the masses are rushing towards, and
2) They have patience

If you ever feel rushed to buy something, you probably shouldn't buy it.
4444 is offline  
Reply With Quote
Old 11-30-2015, 08:22 AM   #4330
My homepage has been set to RS
 
Join Date: May 2002
Location: Vancouver
Posts: 2,113
Thanked 1,200 Times in 478 Posts
Quote:
Originally Posted by 4444 View Post
wot?

where did this passive aggressive / childish post come from?

i'm happy as a clam sticking with my fundamentals, renting a beautiful place, growing a massive asset portfolio, and generally enjoying life rather than worrying about which way 1 asset class in 1 city is going.

edit: also, your claim that mandarian realtors selling to mandarian speakers = proof that all prices are based on the china impact are bunk. Yet more anecdotal evidence, but that's all we have. an ex of mine's parents are from china, moved to vancouver 30 years ago, they speak english to a level where you can just about understand what's going on, they came to canada with nothing, have worked damn hard and have made a success of their business in vancouver. they would only deal with mandarian realtors, speak mandarian daily to their friends, family, etc. if you heard them you'd claim they've just stepped off the plane with bags of cash, and whilst they have bags of cash, it's all locally earned through hard work.
my point is this, there is a china factor, but these little anecdotes of mandarian this and that mean shit all when you look at places like richmond which are almost entirely mandarian speaking now, yet the vast majority are canadian residents or citizens.

so, yes, i'll stick with fundamentals over anecdotes. I'll stick with diversification over 1 asset. i'll stick with cash flow over speculation.

you can say all you want that I'm missing out, but really, i'm not, i'm just making an educated decision based on my risk appetite plans for the future (plan to enjoy life, not worry about things outside of my control).
so sensitive 4444! haha.......I am just tired of all your bragging and soapboxing about how smart you are about real estate investing. Want to know some facts? anyone who listened to you would not have made money in Vancouver real estate market and still be sitting on the sidelines. However, people who listened to you can feel good about themselves cause they adhered to the fundamentals. You sound like a textbox lol! If you really want to spread your gospel, you should do infommericals like Thad Merrill!

btw, I know about your investment strategies, but you know nothing about how and what I invest in........personally, I believe condos in Gastown and Chinatown is where it is at......
__________________
10 AMV8 6sp manual
11 Dinan S3-R 4.6 Stroker
16 Audi Q3 Technik Pkg (S Line)
Z3guy is offline  
Reply With Quote
Old 11-30-2015, 08:26 AM   #4331
I contribute to threads in the offtopic forum
 
Join Date: Jun 2006
Location: not vancouver
Posts: 2,647
Thanked 1,936 Times in 764 Posts
Quote:
Originally Posted by Z3guy View Post
so sensitive 4444! haha.......I am just tired of all your bragging and soapboxing about how smart you are about real estate investing. Want to know some facts? anyone who listened to you would not have made money in Vancouver real estate market and still be sitting on the sidelines. However, people who listened to you can feel good about themselves cause they adhered to the fundamentals. You sound like a textbox lol! If you really want to spread your gospel, you should do infommericals like Thad Merrill!

btw, I know about your investment strategies, but you know nothing about how and what I invest in........personally, I believe condos in Gastown and Chinatown is where it is at......
i don't give a shit about your investment strategy.

1 asset class in 1 city is a pretty shitty investment strategy. great in the good times, but not much else.

and so what if people who would have listened to me would have 'missed out' on the vancouver real estate market. it's not like there's 1 real estate market in the world, or 1 investment class.

i'm sorry if you don't like the fact that fundamentals have done me proud. maybe i have 'missed out' on a short term blip, but it's not like my other assets haven't grown extremely nicely.

but good luck with your 1 asset policy.
4444 is offline  
Reply With Quote
This post thanked by:
This post FAILED by:
Old 11-30-2015, 08:29 AM   #4332
My homepage has been set to RS
 
Join Date: May 2002
Location: Vancouver
Posts: 2,113
Thanked 1,200 Times in 478 Posts
^ brag brag brag you dipshit! your like a whiny brat who can't admit when you are completely wrong!

Unfortunately I know too much about your investment strategies.....haha!
__________________
10 AMV8 6sp manual
11 Dinan S3-R 4.6 Stroker
16 Audi Q3 Technik Pkg (S Line)
Z3guy is offline  
Reply With Quote
This post FAILED by:
Old 11-30-2015, 01:26 PM   #4333
Everyone wants a piece of R S...
 
Join Date: May 2013
Location: Richmond
Posts: 362
Thanked 327 Times in 130 Posts
Quote:
Originally Posted by 4444 View Post
It's one of many factors, but just know that most people who make huge fortunes do two things:

1) They walk away from whatever the masses are rushing towards, and
2) They have patience

If you ever feel rushed to buy something, you probably shouldn't buy it.
I may not agree with a lot of things you say but I agree with this statement 100%.

4444, the issue with you is not what you're saying but how you're saying it. You're coming off as, don't buy. Rent and invest money elsewhere or else you'll lose money.

I can you tell you that I invest in property in Vancouver, am I'm doing just fine. Just be happy we are both making money.

Let's all just agree to disagree

Last edited by kr4l; 11-30-2015 at 01:34 PM.
kr4l is offline  
Reply With Quote
This post thanked by:
Old 11-30-2015, 01:37 PM   #4334
My dinner reheated before my turbo spooled
 
dat_steve's Avatar
 
Join Date: Jun 2006
Location: Vancouver
Posts: 1,797
Thanked 790 Times in 336 Posts
Quote:
Originally Posted by Z3guy View Post
^ brag brag brag you dipshit! your like a whiny brat who can't admit when you are completely wrong!

Unfortunately I know too much about your investment strategies.....haha!
if this was Yu-Gi-Oh, you'd say that line then activate a totally SAVAGE trap card combo
dat_steve is offline  
Reply With Quote
This post thanked by:
Old 12-01-2015, 08:43 AM   #4335
My homepage has been set to RS
 
Join Date: May 2002
Location: Vancouver
Posts: 2,113
Thanked 1,200 Times in 478 Posts
Quote:
Originally Posted by 4444 View Post
i don't give a shit about your investment strategy.

1 asset class in 1 city is a pretty shitty investment strategy. great in the good times, but not much else.
and so what if people who would have listened to me would have 'missed out' on the vancouver real estate market. it's not like there's 1 real estate market in the world, or 1 investment class.

i'm sorry if you don't like the fact that fundamentals have done me proud. maybe i have 'missed out' on a short term blip, but it's not like my other assets haven't grown extremely nicely.

but good luck with your 1 asset policy.
this is the same person that brags his family supposedly owns 9 houses in the GVRD. So with his thinking his family must own 30-40 houses around the world and has many other diversified stocks and bond investments. lol!!!!
__________________
10 AMV8 6sp manual
11 Dinan S3-R 4.6 Stroker
16 Audi Q3 Technik Pkg (S Line)
Z3guy is offline  
Reply With Quote
Old 12-01-2015, 09:23 AM   #4336
Sunday drives on 3 wheels
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 7,289
Thanked 1,792 Times in 946 Posts
Quote:
Originally Posted by Z3guy View Post
this is the same person that brags his family supposedly owns 9 houses in the GVRD. So with his thinking his family must own 30-40 houses around the world and has many other diversified stocks and bond investments. lol!!!!
He's also the same person who said it isn't that easy for an average Canadian Joe to get a bank loan to buy RE in the US but he was able to because of his work connections.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
(11-0-0) Buy/Sell rating
Christine
Shitvic
SumAznGuy is offline  
Reply With Quote
This post thanked by:
Old 12-01-2015, 09:30 AM   #4337
I contribute to threads in the offtopic forum
 
jasonturbo's Avatar
 
Join Date: Feb 2008
Location: North Van
Posts: 2,543
Thanked 6,238 Times in 1,075 Posts
It's actually true that it's hard to get cross border financing.

In the USA they don't want to give you anything unless you have a Social Security Number, in Canada they don't want to give you anything unless you have a Social Insurance Number.

IE: My Canadian parents are PR in Atlanta GA, even with perfect Canadian credit and a massive down payment they couldn't get a US mortgage, had to get the company my dad works for to guarantee the mortgage or the bank wasn't going to give them one.
__________________
Quote:
Originally Posted by jasonturbo
Follow me on Instagram @jasonturtle if you want to feel better about your life
jasonturbo is online now  
Reply With Quote
Old 12-01-2015, 10:21 AM   #4338
I only answer to my username, my real name is Irrelevant!
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Location: Off-Topic
Posts: 26,806
Thanked 6,589 Times in 2,288 Posts
Family friend of ours bought three testing labs in Cali at the height of the recession in 2008

He kept all employees of the labs and basically prevented 30+ people from getting laid off. He tried to apply for a mortgage in Orange County and they would not give him a dime even with 80% down
__________________
Canucks - ftw!
Hondaracer is online now  
Reply With Quote
Old 12-01-2015, 06:16 PM   #4339
I contribute to threads in the offtopic forum
 
Hehe's Avatar
 
Join Date: Dec 2002
Location: YVR/TPE
Posts: 2,681
Thanked 1,236 Times in 500 Posts
For US financing, it's actually possible, but you'd have to go through a broker who specializes in such operation.

Many lenders (not banks) are willing to lend as long as there's a sizable down payment. In my own experience, I was able to get almost the same rate offered to my cousin (who's US citizen). The only difference is that he can get it with 20% down, while I needed 40+.
__________________
Nothing for now
Hehe is online now  
Reply With Quote
Old 12-10-2015, 07:13 PM   #4340
Captain Happy Bubble is my Homeboy
 
Join Date: Jun 2013
Location: Somewhere
Posts: 326
Thanked 542 Times in 133 Posts
Anyone else watching the exchange rates? 1.365 USD/CAD right now. Nuts.
NKC ONE is offline  
Reply With Quote
Old 12-10-2015, 07:54 PM   #4341
Hypa owned my ass at least once
 
westopher's Avatar
 
Join Date: Apr 2011
Location: vancouver
Posts: 6,519
Thanked 16,652 Times in 3,588 Posts
I'm gonna ignore that for a couple years to keep from jumping off the lions gate.
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever View Post
Westopher is correct.
westopher is offline  
Reply With Quote
Old 12-11-2015, 12:33 AM   #4342
I contribute to threads in the offtopic forum
 
Join Date: Jun 2006
Location: not vancouver
Posts: 2,647
Thanked 1,936 Times in 764 Posts
Quote:
Originally Posted by Hondaracer View Post
Family friend of ours bought three testing labs in Cali at the height of the recession in 2008

He kept all employees of the labs and basically prevented 30+ people from getting laid off. He tried to apply for a mortgage in Orange County and they would not give him a dime even with 80% down
its a massive pain in the arse for mortgages in the US as a non-res. certainly possible, but it's a much better idea to use debt in canada to buy US (then at par... plus you make 35% on the US appreciation alone)
4444 is offline  
Reply With Quote
Old 12-11-2015, 06:59 AM   #4343
Captain Happy Bubble is my Homeboy
 
tastic's Avatar
 
Join Date: Jan 2014
Location: Vancouver
Posts: 323
Thanked 830 Times in 175 Posts
Maybe things are/were different in Texas. We were down there under non-res alien status and bought our condo in Houston in 2009 with 20% down, mortgage from Wells Fargo.
tastic is offline  
Reply With Quote
Old 12-11-2015, 07:25 AM   #4344
Cant Stop Modding Fat Cars w/ Cheap Pasts!
 
StylinRed's Avatar
 
Join Date: Oct 2002
Location: CELICAland
Posts: 22,790
Thanked 9,041 Times in 3,227 Posts
10% downpayment of anything over $500k to try and ease the growth yeah that's gonna do something

Ottawa's new rules to cool housing market - NEWS 1130

Quote:
OTTAWA, ON. (NEWS 1130) – Federal Finance Minister Bill Morneau is increasing the amount homebuyers must put forward as a down payment on houses over $500,000.

It’s a move designed to cool off the booming real estate market in some of Canada’s biggest cities, including Vancouver.

Homebuyers will have to put 10 per cent down on the portion of the price over $500,000. Anything under $500,000 will still only require a five per cent down payment.

“This will impact one per cent or less of the market,” says Morneau.

He adds the new measure is aimed at expensive homes while still encouraging first-time homebuyers to get into the market.

The stiffer down payment requirement is one of three new measures targeting the stability of the housing market.

Financial institutions will face new capital requirements to keep pace with the growing risk of the real estate markets they bankroll.

The Canada Mortgage and Housing Corp. will change the fees it charges issuers of mortgage-backed securities. “The government’s role in housing is to set and maintain a framework that is equitable, stable and vulnerable,” explains Morneau.

The Finance Department has tightened mortgage rules on several occasions in recent years along with requiring stricter enforcement and management of loans in an effort to weed out marginal buyers and excessive speculation in the housing market.

One of the changes saw the federal government reduce the maximum amortization period for government-insured mortgages to 25 years from 30 years.

The Bank of Canada has also expressed concerns that too many Canadians risk becoming over-extended, especially once interest rates begin to rise.
seems more like they're pushing those just able to enter the local market out
StylinRed is offline  
Reply With Quote
This post thanked by:
Old 12-11-2015, 09:21 AM   #4345
WOAH! i think Vtec just kicked in!
 
Join Date: Apr 2004
Location: Vancouver
Posts: 1,687
Thanked 730 Times in 294 Posts
Quote:
Originally Posted by StylinRed View Post
10% downpayment of anything over $500k to try and ease the growth yeah that's gonna do something

Ottawa's new rules to cool housing market - NEWS 1130



seems more like they're pushing those just able to enter the local market out
yea I agree it's so stupid. this will do nothing,

it amounts to a few hundred dollars more.
iEatClams is offline  
Reply With Quote
Old 12-11-2015, 09:30 AM   #4346
WOAH! i think Vtec just kicked in!
 
Join Date: Apr 2004
Location: Vancouver
Posts: 1,687
Thanked 730 Times in 294 Posts
2016 will see Real estate price increases due to:

1. CAD further weakening, increases purchasing power for foreigners

2. interest rates going lower, everybody (except the US maybe) is going towards zero interest rates, we will follow most of the world and bond rates will go down. 5 year mortgage rates will probably go down. Maybe even the prime rate as well.

3. People are at an all time "hornyness" in house buying. The mentality is buy now or buy never. People will do anything to get into the market.

Now I don't expect increases of 20-30% like this year in 2015 but i do see 2016 to see increases. But who knows, I heard Hong Kong's property market is finally slowing down.
iEatClams is offline  
Reply With Quote
This post thanked by:
Old 12-11-2015, 10:33 AM   #4347
Sunday drives on 3 wheels
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 7,289
Thanked 1,792 Times in 946 Posts
It's been in the news, but so far I haven't read anything that is able to say why the HK housing market has been falling for the past few months.

They claimed sales were down 42% for the month of November compared to last year.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
(11-0-0) Buy/Sell rating
Christine
Shitvic
SumAznGuy is offline  
Reply With Quote
Old 12-11-2015, 12:13 PM   #4348
WOAH! i think Vtec just kicked in!
 
Join Date: Oct 2005
Location: Vancouver
Posts: 1,645
Thanked 343 Times in 163 Posts
Quote:
Originally Posted by iEatClams View Post
2016 will see Real estate price increases due to:

1. CAD further weakening, increases purchasing power for foreigners

2. interest rates going lower, everybody (except the US maybe) is going towards zero interest rates, we will follow most of the world and bond rates will go down. 5 year mortgage rates will probably go down. Maybe even the prime rate as well.

3. People are at an all time "hornyness" in house buying. The mentality is buy now or buy never. People will do anything to get into the market.

Now I don't expect increases of 20-30% like this year in 2015 but i do see 2016 to see increases. But who knows, I heard Hong Kong's property market is finally slowing down.
please go buy lottery ticket since you can see into the future.
Carl Johnson is offline  
Reply With Quote
Old 12-11-2015, 12:31 PM   #4349
My homepage has been set to RS
 
Traum's Avatar
 
Join Date: Aug 2007
Location: Paradise, BC
Posts: 2,417
Thanked 1,760 Times in 774 Posts
Quote:
Originally Posted by SumAznGuy View Post
It's been in the news, but so far I haven't read anything that is able to say why the HK housing market has been falling for the past few months.

They claimed sales were down 42% for the month of November compared to last year.
My guess is, Prez Xi's relentless crackdown on corruption is scaring the rich and gov officials from funneling money out into the HK RE market, so the "luxury homes" are getting sold, and prices start crashing. Once the crashing starts, locals are too scared to move into the market because they think it'll go lower still. Sellers of existing units are reluctant to ease up on prices because they bought their place at lower prices, so they are holding out to see if they can ride this wave out. Developers are still OK with the reduced prices for the time being because the costs of construction (mostly materials) have come down a lot, although construction labour has gotten a little more expensive.

Unfortunately, I don't think the Vancouver RE market is working the same way despite a lot of similarities with the HK market. So our prices aren't gonna come down any time soon.
Traum is offline  
Reply With Quote
Old 12-11-2015, 01:55 PM   #4350
Rs has made me the woman i am today!
 
Join Date: Apr 2002
Location: Coquitlam
Posts: 4,402
Thanked 342 Times in 127 Posts
Quote:
Originally Posted by iEatClams View Post
yea I agree it's so stupid. this will do nothing,

it amounts to a few hundred dollars more.
Doesn't this only hurting those who are already struggling to have a place for their family?
ImportPsycho is offline  
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 03:50 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2016, vBulletin Solutions, Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net