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Cultural Imperial posted:Hey looks like vancouver is getting an economy. The difference is Silicon Valley has 5 billion dollars in venture capital per year and also lots top notch schools/research labs in the area.
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# ? Aug 11, 2014 03:07 |
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# ? May 27, 2024 02:31 |
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I guess Pablo Guana looked up what Vancouver's actual climate is like after his initial reaction.
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# ? Aug 11, 2014 03:16 |
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eXXon posted:I guess Pablo Guana looked up what Vancouver's actual climate is like after his initial reaction. Vancouver is basically the H1B techie version of that airport movie with Tom Hanks.
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# ? Aug 11, 2014 03:19 |
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http://www.reddit.com/r/vancouver/comments/2d6qtv/an_open_letter_to_vancouvers_food_cart_community/ hahahaha vancouverites are so loving dumb
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# ? Aug 11, 2014 04:22 |
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etalian posted:Vancouver is basically the H1B techie version of that airport movie with Tom Hanks. Immigration arbitrage doesn't sound like a recipe for long-term success, especially given the poo poo salaries and high cost of living. But, hey, it's better than condo pumping and tourism, so I suppose it's a mild victory of sorts.
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# ? Aug 11, 2014 05:12 |
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Lexicon posted:Immigration arbitrage doesn't sound like a recipe for long-term success, especially given the poo poo salaries and high cost of living. Maybe but the article also notes favourable tax rates and I know from personal experience that the digital media claim is legit. it does allow the city / industry to build critical mass and not all of the people that come here temporarily will want to relocate. It will also draw ancillary industry and over time could lead to sustainable growth. Look at Waterloo as an example. Mostly chance placed the phenomenon that was RIM there and has since led to the creation of the research park and a host of other tech businesses.
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# ? Aug 11, 2014 05:24 |
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Cultural Imperial posted:http://www.reddit.com/r/vancouver/comments/2d6qtv/an_open_letter_to_vancouvers_food_cart_community/ I'm looking at you, Japadog. Don't get me wrong, I'm all for fusion cuisine, but $6.50 for a hot dog with roe and nori is out-loving-rageous.
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# ? Aug 11, 2014 05:26 |
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Kalenn Istarion posted:Maybe but the article also notes favourable tax rates and I know from personal experience that the digital media claim is legit. it does allow the city / industry to build critical mass and not all of the people that come here temporarily will want to relocate. It will also draw ancillary industry and over time could lead to sustainable growth. Look at Waterloo as an example. Mostly chance placed the phenomenon that was RIM there and has since led to the creation of the research park and a host of other tech businesses. Counterpoint: kanata.
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# ? Aug 11, 2014 05:34 |
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http://beta.realtor.ca/propertyDetails.aspx?PropertyId=14585058 929k for this is justified right? Because no one buys a house for the house. It's the property value right?
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# ? Aug 11, 2014 05:37 |
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If you're curious what a hell's angels member's home looks like, I see this is for sale: http://beta.realtor.ca/propertyDetails.aspx?PropertyId=14743516 I grew up in this neighbourhood and this house was completely surrounded by CCTV in the 90s. My neighbour had all these great stories about how the RCMP had this fucker surveiled all the time.
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# ? Aug 11, 2014 05:42 |
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http://acrossthecurve.com/?p=15825quote:S&P Downgrades Outlook for ‘Big Six’ Canada Banks yeah no problem here gently caress you poloz you dumb loving oval office gently caress you oliver gently caress you flaherty
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# ? Aug 11, 2014 05:46 |
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Cultural Imperial posted:If you're curious what a hell's angels member's home looks like, I see this is for sale: http://beta.realtor.ca/propertyDetails.aspx?PropertyId=14743516 well on the bright side hopefully you can find some drug money in the wall to pay your mortgage.
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# ? Aug 11, 2014 06:32 |
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Cultural Imperial posted:http://acrossthecurve.com/?p=15825 I couldn't quite parse that finance speak. Does this "bail-in" basically mean they are going to be looting peoples savings accounts Cyprus style?
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# ? Aug 11, 2014 07:16 |
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Rutibex posted:I couldn't quite parse that finance speak. Does this "bail-in" basically mean they are going to be looting peoples savings accounts Cyprus style? No, just bond and shareholders. CDIC would remain as-is. More proof that these chucklefucks know what's coming and want to be as insulated as possible from the consequences.
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# ? Aug 11, 2014 07:22 |
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Franks Happy Place posted:No, just bond and shareholders. CDIC would remain as-is. It's actually not entirely removed from what the outcome might be as part of a normal bankruptcy process EXCEPT that it entirely invalidates bond holders' claim to the underlying assets of the firm, which is why the rating agencies are threatening to downgrade the banks if it's implemented in its current form. Equity holders are no more or less hosed than previously. It's really, really stupid, and the prospect of this happening to any 'too big to fail' firm will materially impact their borrowing costs. Bond holders will need higher returns to compensate for the loss of effective security. Examples of companies most likely to be hit by the too big to fail definition: - big 6 banks - railroads - national telecom companies (bell telus rogers etc etc) - air canada - maaaaaybe one or two of the top resource companies, but probably not.
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# ? Aug 11, 2014 12:45 |
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Franks Happy Place posted:More proof that these chucklefucks know what's coming and want to be as insulated as possible from the consequences. LemonDrizzle fucked around with this message at 13:02 on Aug 11, 2014 |
# ? Aug 11, 2014 12:53 |
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http://www.theglobeandmail.com/report-on-business/economy/housing/housing-starts-pick-up-in-july/article19985864/quote:New home construction in Canada topped economists’ expectations for July. I'm seeing lots of units for sale in my Main st neighbourhood (see Collection 45) but none of them show up on MLS.
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# ? Aug 11, 2014 14:56 |
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Cultural Imperial posted:I'm seeing lots of units for sale in my Main st neighbourhood (see Collection 45) but none of them show up on MLS. New listings generally start showing up on public MLS after a realtor exclusive period. ocrumsprug fucked around with this message at 16:18 on Aug 11, 2014 |
# ? Aug 11, 2014 16:14 |
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https://www.thestar.com/business/real_estate/2014/08/11/is_inflating_income_lying_on_credit_applications_ok.htmlquote:
I thought canada was the pinnacle of global lending standards. That's why It's Different Here.
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# ? Aug 11, 2014 21:49 |
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How do I get my free credit report?
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# ? Aug 11, 2014 21:58 |
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I can't speak to mortgages, but I don't think I've ever heard of anyone's credit card application requiring any serious proof of income (not saying they don't - I just haven't heard of it). You can get approved for thousands of dollars of credit over the phone just saying you make 50k per annum, sure why not? The only exception was getting my first credit card where Scotiabank refused to give me more than $500 credit and would only give me that much if I gave them a $500 cheque as collateral.
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# ? Aug 11, 2014 22:03 |
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Cultural Imperial posted:https://www.thestar.com/business/real_estate/2014/08/11/is_inflating_income_lying_on_credit_applications_ok.html Meh, in any survey, 5-10% of people will hold some really outlandish views. Also, the fact that those people have said they think it's OK doesn't mean they would actually do it. eXXon posted:I can't speak to mortgages, but I don't think I've ever heard of anyone's credit card application requiring any serious proof of income (not saying they don't - I just haven't heard of it). You can get approved for thousands of dollars of credit over the phone just saying you make 50k per annum, sure why not? They do a credit background check, though. That's why you needed collateral on your first card, since you had no credit record.
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# ? Aug 11, 2014 22:28 |
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Lead out in cuffs posted:They do a credit background check, though. That's why you needed collateral on your first card, since you had no credit record. Right, but your credit report doesn't necessarily have an accurate total household income. I'm pretty sure CIBC gave me a student card with no collateral, although it has been a while so I might be misremembering. Other banks seem to offer first credit cards with no collateral if you have another account with them (which I did with Scotia).
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# ? Aug 11, 2014 22:34 |
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http://forums.somethingawful.com/showthread.php?threadid=3657101quote:This morning, the Canada Mortgage and Housing Corporation (CMHC) revealed that developers broke ground on a seasonally adjusted and annualized 200,100 new homes in July – 7,000 more than economists had forecast. quote:Starts (green line) rose sharply in 2011 and 2012, while the number of units under construction (blue line) continued to rise thereafter. The economist believes that the condominiums developers broke ground on during this period – which accounted for the vast majority of starts – have not yet been completed, but will be soon.
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# ? Aug 11, 2014 23:04 |
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eXXon posted:I can't speak to mortgages, but I don't think I've ever heard of anyone's credit card application requiring any serious proof of income (not saying they don't - I just haven't heard of it). You can get approved for thousands of dollars of credit over the phone just saying you make 50k per annum, sure why not? When I first applied for a credit card from TD around 9 years ago they asked me what I did. At the time I was a bartender and a student, they specifically told me they were going to only list me as a student because I might be turned down on what they thought of as irregular employment.
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# ? Aug 11, 2014 23:15 |
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It makes no sense to me that they'd turn down people with no credit (as opposed to bad credit). Give em $500 limit chance once and see how they do - most will not default and many will remain a customer for life thanks to inertia.
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# ? Aug 11, 2014 23:24 |
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Lexicon posted:It makes no sense to me that they'd turn down people with no credit (as opposed to bad credit). Give em $500 limit chance once and see how they do - most will not default and many will remain a customer for life thanks to inertia. Banks in Canada are ridiculous. If you go into the branch and apply for something, they will reject you outright. Yet if you grab the mail-in application off the counter, ask to borrow their pen to fill it in, and drop it in the mailbox outside you will get approved in two weeks. You don't even need to lie about anything. It is one of the reasons I have a hard time reconciling the fact that Canadian banks will now give you an 800K mortgage if you can fog a mirror now.
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# ? Aug 11, 2014 23:31 |
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Lead out in cuffs posted:Meh, in any survey, 5-10% of people will hold some really outlandish views. Also, the fact that those people have said they think it's OK doesn't mean they would actually do it. It was 10% of people surveyed that said it was alright. There is a lot of interesting psychology that goes into surveys; in many cases people will not fill it out truthfully and will say what they expect the surveyor to want to hear. If I had to guess I would think that substantially more people think it is ok to lie about their income than 10%.
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# ? Aug 12, 2014 00:39 |
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Lexicon posted:It makes no sense to me that they'd turn down people with no credit (as opposed to bad credit). Give em $500 limit chance once and see how they do - most will not default and many will remain a customer for life thanks to inertia. I was making $30k/yr when I got my first card, with a $500 limit, and I still had to put a $500 hold on funds in my savings to secure the card with as part of the approval process. Took me over a year before they'd turn it into a normal card instead of a secured one.
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# ? Aug 12, 2014 00:43 |
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ocrumsprug posted:It is one of the reasons I have a hard time reconciling the fact that Canadian banks will now give you an 800K mortgage if you can fog a mirror now. CMHC doesn't insure credit cards.
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# ? Aug 12, 2014 00:46 |
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FrozenVent posted:CMHC doesn't insure credit cards. True, but this was also my experience in 2000 getting a mortgage too. A mortgage broker made getting a (CMHC backed) mortgage trivial, when I couldn't even get a bank to talk to us.
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# ? Aug 12, 2014 01:20 |
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eXXon posted:Right, but your credit report doesn't necessarily have an accurate total household income. I definitely got a student card with a $1000 limit with no collateral when I was in high school. I had a part-time job at Wendy's making maybe $600-$700 a month. This was 17 years ago now I think but I can't imagine they wouldn't do something similar today. Need to give the kids a taste to get them hooked for life JawKnee posted:When I first applied for a credit card from TD around 9 years ago they asked me what I did. At the time I was a bartender and a student, they specifically told me they were going to only list me as a student because I might be turned down on what they thought of as irregular employment. Same for me. The guy there was more able to get me a card by ignoring my income than with it. Lexicon posted:It makes no sense to me that they'd turn down people with no credit (as opposed to bad credit). Give em $500 limit chance once and see how they do - most will not default and many will remain a customer for life thanks to inertia. I built my credit over time by using the card extensively but consistently paying it off, every month. There was a month or two around my wedding where the payments were a bit less than 100% but otherwise that was it. I've never asked for a limit increase but have received several over the years.
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# ? Aug 12, 2014 01:44 |
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^ Yeah, same, but I'm talking about people who've never had the chance and yet on occasion banks seem to think it's not worth rolling the dice on a $500 limit first credit card. These are purportedly rational, profit-seeking enterprises, but it seems like odd behaviour in the absence of data.
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# ? Aug 12, 2014 05:30 |
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I think the $500 credit limit cards for people with no history are pretty standard. Vancity gave me one with no history, $500 limit like everyone else. I eventually cancelled it because they refused to raise my credit limit even 2 years after I had a $55k/year job. They were doing my personal banking so it's not like they couldn't see in my chequing account I was making the money. I think credit cards work like employment. Your first one will never give you a raise or give a poo poo about you. You need to jump employers/credit card companies once you have history on your CV/credit file.
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# ? Aug 12, 2014 07:58 |
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Guess everybody's every experience is different I applied for a CC at my bank and it wasn't a secured one. They even raised the limit to 1k after a couple months of not using it, and 5k shortly after.
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# ? Aug 12, 2014 16:21 |
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Yeah when my wife first moved here she tried to get a credit card so she could buy poo poo online but when she just filled out forms or did it online or over the phone she was rejected every time because immigrant, and told they might maybe consider giving her one if she was really really good and gave them $500. Then we just walked down to our credit union and a lady laughed about the stupid form-based system being pointlessly restrictive and gave her a card with a surprisingly high limit right away. She said if you do it over the phone or by form they are really beep-boop rules-robots about it and since she has 0 credit history that's an automatic rejection, while in person at the branch she can make a quick judgement call and just authorize a card seeing that she was gainfully employed making good money. Also without us even asking they told us about their great mortgage rates which will surely be going up in a few years so now is the time to buy. Baronjutter fucked around with this message at 16:42 on Aug 12, 2014 |
# ? Aug 12, 2014 16:33 |
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less than three posted:I think the $500 credit limit cards for people with no history are pretty standard. Vancity gave me one with no history, $500 limit like everyone else. I eventually cancelled it because they refused to raise my credit limit even 2 years after I had a $55k/year job. They were doing my personal banking so it's not like they couldn't see in my chequing account I was making the money. Desjardins started me with a $300 student card, ten years later they just offered to up my limit to 20k. It's not the same card per se (I have their travel card now, basically, because $100 in fee a year is cheaper than getting travel insurance every time I travel) but there you have it.
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# ? Aug 12, 2014 16:45 |
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My bank is constantly throwing credit at me. Cards, Lines of credit, it's like they want me to have the chance to go into crippling debt or something. Thank god I'm responsible cause otherwise I could go on like a 50k shopping spree right now.
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# ? Aug 12, 2014 17:36 |
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triplexpac posted:My bank is constantly throwing credit at me. Cards, Lines of credit, it's like they want me to have the chance to go into crippling debt or something. I've had Scotia bank raise my limit on both my credit card and my line of credit like 6 times. Without asking. Calling them and asking them to put the limit back down to what was originally agreed upon was like speaking a foreign language. No one understood. Ended up switching to RBC surprisingly they just let poo poo be.
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# ? Aug 12, 2014 19:50 |
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# ? May 27, 2024 02:31 |
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Whiteycar posted:Calling them and asking them to put the limit back down to what was originally agreed upon was like speaking a foreign language. No one understood. Going through that now with TD. Amazing how many people are lysdexic, with all the confusion they have over the words 'raise' and 'lower'.
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# ? Aug 12, 2014 21:20 |