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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.

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Old 03-24-2014, 07:02 AM   #2201
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you are also humble too! hahaha!
the funny thing is, i am extremely humble and empathetic around good people.

however, when dealing with douches on the internet who make bold claims like 'you can't hack it' i take a different approach - also, can't hack vancouver? vancouver isn't exactly a city that chews you up and spits you out, quite the opposite, it's an easy place to live with huge amounts of government support. you can be a real loser and do alright in the lower mainland, that's not attractive to me.
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Old 03-24-2014, 07:07 AM   #2202
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^ I think you are the new Marco 911 haha! you entertain me, thank you. You sure spend allot of time defending your POV
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Old 03-24-2014, 07:11 AM   #2203
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^ I think you are the new Marco 911 haha! you entertain me, thank you. You sure spend allot of time defending your POV
Ha! That's a perfect comparison.
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Old 03-24-2014, 07:54 AM   #2204
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^ I think you are the new Marco 911 haha! you entertain me, thank you. You sure spend allot of time defending your POV
this is the thing, if you actually had a good rebuttal, we could have an intelligent discussion, many people have done so - i don't need you to agree with me.

having said that, why would i not defend my position?

but, unfortunately, you throw shit up like ''you can't hack it" - if someone makes a veiled proverbial slap in the face at me, of course I will defend myself.
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Old 03-24-2014, 08:15 AM   #2205
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this is the thing, if you actually had a good rebuttal, we could have an intelligent discussion, many people have done so - i don't need you to agree with me.

having said that, why would i not defend my position?

but, unfortunately, you throw shit up like ''you can't hack it" - if someone makes a veiled proverbial slap in the face at me, of course I will defend myself.
you sure spend allot of time defending all your positions, I wasn't referring to my specific comments

this is revscene man, it is for fun, not some soapbox to tell everyone how smart you are.....well maybe for you....

"you can't hack it" comment sure got under your skin eh? I look forward to your next response haha!
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Old 03-24-2014, 09:24 AM   #2206
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you sure spend allot of time defending all your positions, I wasn't referring to my specific comments

this is revscene man, it is for fun, not some soapbox to tell everyone how smart you are.....well maybe for you....

"you can't hack it" comment sure got under your skin eh? I look forward to your next response haha!
allot isn't a word

that's my response
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Old 03-24-2014, 09:32 AM   #2207
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^ thank you for correcting my grammar on revscene Marco911
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Old 03-24-2014, 09:51 AM   #2208
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back on topic...

last topic discussed was how renting beats owning, and that selling to rent is also better right now. is building a new home right now also a bad idea b/c if you're taking out a construction loan you are also potentially affected if interest rates rise as well, similar to buyers taking out a mortgage on a property?
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Old 03-24-2014, 10:00 PM   #2209
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back on topic...

last topic discussed was how renting beats owning, and that selling to rent is also better right now. is building a new home right now also a bad idea b/c if you're taking out a construction loan you are also potentially affected if interest rates rise as well, similar to buyers taking out a mortgage on a property?
Really depends on if you already own the land and not paying a mortgage on it. I would assume that construction cost of building a house shouldn't get lower with time. Only thing I would suggest is that if you are only being approved for this loan because of the low interest rate, I would be very cautious on proceeding since you would be at financial risk when rates do rise.
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Old 03-26-2014, 05:44 PM   #2210
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BMO cuts 5-year mortgage rate to 2.99% | Financial Post
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Old 03-26-2014, 07:52 PM   #2211
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10/10 payments, max 25year amort, and a few more restrictions. It's honestly not much better than whats out there beside being able to advertise that rate.
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Old 03-26-2014, 08:14 PM   #2212
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the race to the bottom continues. so glad i'm not an investor in canadian bank stocks.
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Old 03-26-2014, 08:23 PM   #2213
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Noob question but Why wouldn't banks want to keep interest rates low? It's More business for them and it keeps the housing bust from blowing up in their faces. What economic changes would force bank to raise their rates?
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Old 03-26-2014, 08:44 PM   #2214
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Noob question but Why wouldn't banks want to keep interest rates low? It's More business for them and it keeps the housing bust from blowing up in their faces. What economic changes would force bank to raise their rates?
don't kid yourself. the c-suite execs in all the big banks want to raise the rate but the fundamental is not there to support it. BMO is desperately lowering rate to gain market share. if anything this latest move is more indication to me that Canada is facing some serious structural problem within OECD countries.
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Old 03-26-2014, 09:00 PM   #2215
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Noob question but Why wouldn't banks want to keep interest rates low? It's More business for them and it keeps the housing bust from blowing up in their faces. What economic changes would force bank to raise their rates?
It's also not in Canada's best interest to raise rates since it'll cause our currency to appreciate, our goods get more expensive and we end up losing jobs because consumers end up importing goods rather than consume locally.

The Fed wants to raise rates in early 2015. BoC won't even have the slightest interest in moving their rates until they do. Equities is still a safe haven for at least the next 3-6 months. After that, things get interesting.
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Old 03-26-2014, 10:15 PM   #2216
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Noob question but Why wouldn't banks want to keep interest rates low? It's More business for them and it keeps the housing bust from blowing up in their faces. What economic changes would force bank to raise their rates?
It's funny, everyone says things like "It's in X's best interest to keep Y where it is!"

I remember in '06/'07 when the Americans were getting more freaked out that China was holding a lot of American debt. "What if they called it in all at once? Wouldn't that ruin our economy?"
"Well, it wouldn't be in their best interests, the value of their assets would depreciate too quickly."


It's funny, because the same should have applied to the subprime mortgage thing. Renegotiate some loans, extend the term, write off a hundred thousand here or there. It would have been in their best interests.

And we all know how well that turned out.
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Old 03-26-2014, 11:40 PM   #2217
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Bank stocks are doing well thank you very much.. remember all these loans are backed by CMHC, banks just take a cut by selling it. Compare the worst performing listed Canadian bank say Scotia, they are doing a few multiples better than any equivalent in the US say Citibank or even Asian favorite HSBC.

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the race to the bottom continues. so glad i'm not an investor in canadian bank stocks.
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Old 03-26-2014, 11:56 PM   #2218
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Bank stocks are doing well thank you very much.. remember all these loans are backed by CMHC, banks just take a cut by selling it. Compare the worst performing listed Canadian bank say Scotia, they are doing a few multiples better than any equivalent in the US say Citibank or even Asian favorite HSBC.
which is stupid, b/c as you say, it is the tax payer that is ensuring good performance.

the system in canada is broken. i LOVE conservative banks, but HATE government intervention to the level we see in canada.

politicians, whether they mean to or not, ruin everything with their meddling!
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Old 03-28-2014, 08:34 AM   #2219
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Only in Vancouver, a $600k SFH makes headlines in the news: There?s a house for sale in Vancouver for under $600,000
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Old 03-28-2014, 09:10 AM   #2220
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I'm willing to bet it sells for 800k
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Westopher is correct.
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seems like you got a dick up your ass well..get that checked
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Old 03-28-2014, 09:38 AM   #2221
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Only in Vancouver, a $600k SFH makes headlines in the news: There?s a house for sale in Vancouver for under $600,000
the plan worked, it's in the province (i refuse to call it a newspaper) - it's just another ploy to get horny idiots salivating over a 'deal'

people are idiots.
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Old 03-28-2014, 09:54 AM   #2222
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realtors like to also list it below 'assessed value', get a ton of people to the open house, and then field multiple offers and let the ebay effect kick in.
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Old 03-28-2014, 11:11 AM   #2223
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Welcome to free market. The Realtor is doing exactly what they are suppose to do though the newspaper post is tacky. It really doesn't need The Province exposure to sell for top dollar.
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Old 03-28-2014, 01:00 PM   #2224
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Welcome to free market. The Realtor is doing exactly what they are suppose to do though the newspaper post is tacky. It really doesn't need The Province exposure to sell for top dollar.
of course it is a free market and people can do whatever they want to do. but this story also exposes the flaws of efficient market hypothesis. if vancouver was such a normal market the seller does not have to resort to this kind of selling tactic in order to sell his or her property. assuming this houses is grossly undervalued at today's price, which we can safely say it is. there is no reason the seller has to price the house at 600k but only to generate excitement and hopefully a bidding frenzy among the buyers. greed is a powerful driver.
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Old 03-28-2014, 06:17 PM   #2225
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Only in Vancouver, a $600k SFH makes headlines in the news: There?s a house for sale in Vancouver for under $600,000
lol who would want to buy that shack?
its right on Clark and 10th with heavy truck traffic.

It Still has its original plaster walls and the whole house is probably laced with asbestos
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