Canada Housing/Debt: Trust me, I'm a landlord.

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Kafka Esq.: Jan 1, 2005; "If you ever even think about calling me anything but 'The Crab' I will go so fucking crab on your ass you won't even see what crab'd your crab" -The Crab(TM)

The glorious story of Canada can only be told through navel-gazing or self-loathing, nothing in between.

# ? Feb 8, 2015 00:01

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# ? May 11, 2024 08:28

sat on my keys!: Oct 2, 2014

Kafka Esq. posted:

The glorious story of Canada can only be told through navel-gazing or self-loathing, nothing in between.

My new art piece is a set of seamless monitors playing all Heritage Minutes at once superimposed over a poop.

# ? Feb 8, 2015 00:03

etalian: Mar 20, 2006

Vaginapocalypse posted:

I have to smirk whenever anyone suggests that Canada has a culture worth preserving.

it's basically a stealth country/culture that actively avoid building any type of reputation.

it's why other countries like Russian, france, USA or germany are much more handy for jokes.

A Frenchman, a German, and a Russian go on a safari and are captured by cannibals. They are brought to the chief, who says, "We are going to eat you right now. But I am a civilized man, I studied human rights at the Patrice Lumumba University in Moscow, so I'll grant each of you a last request."

The German asks for a mug of beer and a bratwurst. He gets it and the cannibals eat him. The Frenchman asks for three girls. He has crazy sex with them, and then follows the German. The Russian asks: "Hit me hard, right on my nose." The chief is surprised, but hits him. The Russian pulls out a Kalashnikov and shoots all the cannibals. The mortally wounded chief asks him: "Why didn't you do this before we ate the German?", the Russian proudly replies: "Russians are not aggressors!

# ? Feb 8, 2015 00:17

Isentropy: Dec 12, 2010

etalian posted:

it's basically a stealth country/culture that actively avoid building any type of reputation.

I'd say stealth more in the sense of chameleons or something.

Cities (except Montreal, the best city) try to pretend they're New York, London, or LA and they all want to be "world class". Sometimes it's realistic, sometimes Halifax says they want to host the Olympics.

Rural areas claim to be "real Canadian" or what have you when, really, could you tell the difference between upstate New York and rural Ontario? Farming, fishing, and forestry aren't exclusively Canadian things you know.

ne: None of this is necessarily a bad thing. I'd bet there's not a hell of a lot of a difference between, say, French Belgium and the nearby parts of France.

# ? Feb 8, 2015 00:29

I would blow Dane Cook: Dec 26, 2008

What happens to house prices in mining towns when a mining boom ends:

quote:

Port Hedland house passed in at auction in million-dollar dive, sign mining boom over

A house in the mining town of Port Hedland has been passed in at auction for $360,000 after it was bought four years ago for $1.3 million.

The three-bedroom, one-bathroom fibro and iron house was built in the Western Australian town in the 1960s.

Real estate agent Barry Walsh said it was a sign the mining boom's construction phase, which drove property prices to unrealistic levels, had tapered off.

He said prices were also very high during that phase because there was a high demand for accommodation and a lack of available land to build property on.

Mr Walsh said the real estate market, which had been attracting phenomenal rents of thousands of dollars a week, was unsustainable.

A spectator at the auction said "it was an extraordinary event".

Mr Walsh said the auction showed that people could now afford to buy homes in Port Hedland again, and the town might be able to rely on a local workforce and fewer fly-in, fly-out workers.

# ? Feb 8, 2015 01:16

Helsing: Aug 23, 2003; DON'T POST IN THE ELECTION THREAD UNLESS YOU JOE BIDEN

etalian posted:

it's basically a stealth country/culture that actively avoid building any type of reputation.

it's why other countries like Russian, france, USA or germany are much more handy for jokes.

A Frenchman, a German, and a Russian go on a safari and are captured by cannibals. They are brought to the chief, who says, "We are going to eat you right now. But I am a civilized man, I studied human rights at the Patrice Lumumba University in Moscow, so I'll grant each of you a last request."

The German asks for a mug of beer and a bratwurst. He gets it and the cannibals eat him. The Frenchman asks for three girls. He has crazy sex with them, and then follows the German. The Russian asks: "Hit me hard, right on my nose." The chief is surprised, but hits him. The Russian pulls out a Kalashnikov and shoots all the cannibals. The mortally wounded chief asks him: "Why didn't you do this before we ate the German?", the Russian proudly replies: "Russians are not aggressors!

The Canadian wastes his last request complaining that the Frenchman was smoking gauloises upwind of him.

# ? Feb 8, 2015 01:20

Ceciltron: Jan 11, 2007; Text BEEP to 43527 for the dancing robot!; Pillbug

Helsing posted:

The Canadian wastes his last request complaining that the Frenchman was smoking ~~gauloises~~ e-cigarettes upwind of him.

# ? Feb 8, 2015 02:28

Precambrian Video Games: Aug 19, 2002

Ceciltron posted:

I don't care what anyone says. I've worked in China, lived in China, my girlfriend is mainland Chinese and is still living there. And yet I understand what kind of panic these whitebread bumpkins see when a bunch of loud allophone mouthbreathers from Shanghai and Beijing (using the money they've inherited from corruption and party privilege) roll up buying all the houses.

You know what? I don't want rich tuhao mainlanders living anywhere. Not here, not in China. They're awful people. If you thought nimby self entitlement was bad here with middle class yuppies, you haven't lived in a place where middle aged women revolt when they're barred from disrupting traffic with their "dancing". The poor, normal, everyday Chinese are by far and large awesome people -they're wonderful hosts, incredibly generous and unpretentious.

The wealthy assholes we allow to jump the queues who move into this country? Send them back. They're garbage and a detriment to humanity as a whole.

We should just ban rude little old ladies who elbow their way to the front of every line and can't speak a word of English. Everyone else can stay.

# ? Feb 8, 2015 03:30

namaste friends: Sep 18, 2004; by Smythe

Incoming zerohedge reference :siren:

zerohedge is a libertarian shithead finance blog that I don't recommend reading, HOWEVER, someone got their hands on a great Deutsche Bank ppt on how absolutely fuuuuuuuuuuuuuucked canada's housing market is and posted it

please do yourself a favour and don't give zh a click

http://www.zerohedge.com/news/2015-02-07/canadian-housing-market-6-simple-charts

quote:

This won't end well.

1) Canada�s housing market is 63% overvalued relative to its historical average�

quote:

2) Home prices in Vancouver are more expensive than they are in Sydney, London, and New York�

quote:

3) �Canada is in serious trouble� because its households never deleveraged�

quote:

4) Since 2000, growth in assets held by Canadian banks is as follows�

Personal lines of credit: + ~650%
Credit card loans: + ~400%
Mortgages: + ~250%
Disposable income: + ~100%

quote:

5) In Canada, multifamily construction is at record highs�

quote:

6) Canadian workers are twice as reliant on housing construction�

To all my fellow ethnic han bros, chinese new year is coming up so if you're interested in picking a fight with your family over roast pig rear end in a top hat I encourage you to print this up as a pdf and hand it out to your relatives AFTER you get your red packets

lol that loving line of credit increase

gently caress all of you motherfuckers
I hope you all eat out of food banks for the next 10 loving years

namaste friends fucked around with this message at 04:00 on Feb 8, 2015

# ? Feb 8, 2015 03:58

etalian: Mar 20, 2006

lmao, Canada even worse housing bubble than Australia

# ? Feb 8, 2015 04:10

ocrumsprug: Sep 23, 2010; by LITERALLY AN ADMIN

I am suspicious of the loans index chart. That shows mortgage loan tracking income until 2012, which would seem to not line up with a bubble that had been well inflated by that point.

# ? Feb 8, 2015 05:13

etalian: Mar 20, 2006

ocrumsprug posted:

I am suspicious of the loans index chart. That shows mortgage loan tracking income until 2012, which would seem to not line up with a bubble that had been well inflated by that point.

Probably means the global 2009 recession scared people off for a few year before deciding the home prices could only go up.

Canadian banks also did have trouble during the 2009 recession and got a US Fed bailout.

etalian fucked around with this message at 06:48 on Feb 8, 2015

# ? Feb 8, 2015 05:17

Rime: Nov 2, 2011; by Games Forum

So basically our banks are sitting on vast amounts of thin air, moreso than the US at the height of their bubble, and without the largest economy on earth to bail them out?

:getin:

# ? Feb 8, 2015 08:17

I would blow Dane Cook: Dec 26, 2008

Wrap it up Canadailures, Australia has the worst condos:

quote:

Melbourne's "hyper-dense" skyscrapers would never be allowed in other global centres, a new report finds

High-rise apartment towers in central Melbourne are being built at four times the maximum densities allowed in some of the world's most crowded cities, including Hong Kong, New York and Tokyo, a scathing new report finds.

And Melbourne's hyper-dense skyscrapers are being built "with little regard to the effect on the residents within, the impact on the streets below or the value of neighbouring properties" because of weak, ineffective or non-existent state government policies, it finds.

Leanne Hodyl is the co-ordinator of city plans and policy at Melbourne City Council. Last year she completed a Churchill Fellowship, in work done separately from her council job but with the support of key staff, including the city's design director, Rob Adams.

The fellowship studied five other cities - New York, Vancouver, Tokyo, Hong Kong and Seoul - to see how they dealt with dense high-rise landscapes.

Ms Hodyl's fellowship paper, published last week, said construction of skyscrapers in central Melbourne should be supported, because a big jump in the CBD's population had many benefits for residents, including easy access to jobs, shops and entertainment. And it made the city "more lively and animated".

But Melbourne had by far the fewest policies regulating apartment towers compared with the cities she studied.

Her study also found that the social and economic consequences of such high-density development were "unknown", and were not required "to put Melbourne on the map as a global city".

The paper warns that continuing planning policies supporting high-density CBD growth, and continued overseas investment, could have dire and long-lasting impacts.

"It will create a legacy of apartments that are of poor quality - homes that lack access to light, air and an outlook and that diminish the quality of the streets and parks below."

There are no policies linking the density of developments in Melbourne to the provision of better public spaces. In other cities where high-rise living is common, developers see such trade-offs as the norm.

In Vancouver, developers are allowed to cram high numbers of apartments into a project only if they agree to help fund construction of things such as parks, plazas, childcare centres, cinemas and performing arts spaces.

In Melbourne, planning controls offer "cheap density" to developers, because they are able to ratchet up the number of apartments in a tower with only a very limited need to make any significant community contribution.

"Not one of the five cities that I studied is choosing to develop in this way," Ms Hodyl concluded.

The report looks at a block in Melbourne's CBD bounded by A'Beckett, Elizabeth, Franklin and Stewart Streets, where several towers are approved, being built or soon to be applied for. There are no enforceable laws on density or height on this block.

It then takes these skyscrapers - where 8600 people would one day live - and contrasts them with what would be allowed in Hong Kong, New York or Vancouver. It finds that what is allowed in Melbourne would never be permitted in these cities.

The report argues that Melbourne must establish far tighter CBD density controls; greater separation between towers; and far stricter apartment design standards. The city must also introduce "density bonuses" so developers can get "hyper-dense" apartment tower approvals only if they offset them with new open space or other benefits.

Ms Hodyl said too much attention had been given to the height of new skyscrapers. Far more important was the number of people living in a tower, whether apartments were high quality, and access to good parks and community services.

An Andrews government spokeswoman said a new planning authority would work with the State Architect and Melbourne City Council on new high rises to "restore accountability" to CBD planning.

Former planning minister Matthew Guy had made too many decisions "in secret behind closed doors", she said.

# ? Feb 8, 2015 10:56

Throatwarbler: Nov 17, 2008; by vyelkin

Ceciltron posted:

I don't care what anyone says. I've worked in China, lived in China, my girlfriend is mainland Chinese and is still living there. And yet I understand what kind of panic these whitebread bumpkins see when a bunch of loud allophone mouthbreathers from Shanghai and Beijing (using the money they've inherited from corruption and party privilege) roll up buying all the houses.

You know what? I don't want rich tuhao mainlanders living anywhere. Not here, not in China. They're awful people. If you thought nimby self entitlement was bad here with middle class yuppies, you haven't lived in a place where middle aged women revolt when they're barred from disrupting traffic with their "dancing". The poor, normal, everyday Chinese are by far and large awesome people -they're wonderful hosts, incredibly generous and unpretentious.

The wealthy assholes we allow to jump the queues who move into this country? Send them back. They're garbage and a detriment to humanity as a whole.

Every time I check this thread we plumb some new depth of shitposting. You think the women dancing in the streets are wealthy? Please tell me more about this magical China white guy who is an expert and cannot possibly be a racist because you occasionally gently caress an asian chick

EDIT:

Reverse Centaur posted:

And the follow up

Jesus Christ a real live person actually typed all that poo poo out, printed it in color and is now putting it in mailboxes.

Throatwarbler fucked around with this message at 13:53 on Feb 8, 2015

# ? Feb 8, 2015 13:51

Brannock: Feb 9, 2006; by exmarx; Fallen Rib

These brutally oppressed Chinese will surely appreciate Throatwarbler for stepping in on this matter.

# ? Feb 8, 2015 15:12

ascendance: Feb 19, 2013

Jumpingmanjim posted:

Wrap it up Canadailures, Australia has the worst condos:

Oh wish you had the link there. I want to send that on to my cousin in Melbourne.

# ? Feb 8, 2015 15:41

Kafka Esq.: Jan 1, 2005; "If you ever even think about calling me anything but 'The Crab' I will go so fucking crab on your ass you won't even see what crab'd your crab" -The Crab(TM)

Throatwarbler posted:

Every time I check this thread we plumb some new depth of shitposting. You think the women dancing in the streets are wealthy? Please tell me more about this magical China white guy who is an expert and cannot possibly be a racist because you occasionally gently caress an asian chick

Hmm, I think you may have missed the mark here.

# ? Feb 8, 2015 16:08

etalian: Mar 20, 2006

ascendance posted:

Oh wish you had the link there. I want to send that on to my cousin in Melbourne.

http://www.theage.com.au/victoria/m...208-13936d.html

The Canadian real estate bubble had similar with lots of condos being built without good access to local mass transit and other amenities.

# ? Feb 8, 2015 17:47

Whiskey Sours: Jan 25, 2014; Weather proof.

Rime posted:

So basically our banks are sitting on vast amounts of thin air, moreso than the US at the height of their bubble, and without the largest economy on earth to bail them out?

The US Fed offered $34 billion in "liquidity support" to Canadian banks in 2008, I'm sure they'd do it again.

# ? Feb 8, 2015 18:06

etalian: Mar 20, 2006

Whiskey Sours posted:

The US Fed offered $34 billion in "liquidity support" to Canadian banks in 2008, I'm sure they'd do it again.

Yeah basically the US Fed sent trillions of dollars overseas during the 2009 recession to prop up banking systems in other countries by helping the banks recapitalize or doing toxic asset swaps.

The Canadian government also did a stealth bailout too.

So the Canadian banking system probably would have collapsed in 2009 and it's only due to the stealth bailout program that Canadians can crow about their solid well regulated banking system.

The total bailout package was around $114 billion dollars USD:
https://www.policyalternatives.ca/newsroom/updates/study-reveals-secret-canadian-bank-bailout

etalian fucked around with this message at 19:08 on Feb 8, 2015

# ? Feb 8, 2015 18:19

namaste friends: Sep 18, 2004; by Smythe

http://www.theglobeandmail.com/news/toronto/torontos-instant-neighbourhood/article22829656/

quote:

In the final days as a construction deadline loomed, the crews working on Canary Park, a 437-unit condominium building, were doing the final touch-ups of paint. From the outside it appeared a polished complex of two mid-rise towers � but the interiors looked more slapdash, a dormitory of kitchenless suites and tiny bedrooms that will soon house bunkbeds.

That�s the plan. The building�s initial occupants, thousands of Pan Am and Parapan Am Games athletes, arrive in July and will reside in this building for the short term. Then the whole area of six buildings will be renovated to serve new purposes as condos, rental buildings, student housing and a YMCA. It will form Toronto�s newest built-from-scratch neighbourhood.

Great expectations rest not just on the Canary Park condos, but all of Canary District, the ambitious $514-million neighbourhood in the West Don Lands whose first phase has just been completed. For years, Waterfront Toronto has had its eye on developing this brownfield site just west of the Don River into a new community. In 2009, the province approached the agency to ask if the Pan Am Village could be built on the site, which gave the planning process new momentum. While it was first anticipated it would take 15 to 20 years to build out the site, the agency now thinks it will be complete � with more than 6,000 residential units � in just a decade.

The area is located near downtown, just east of the Distillery District along Eastern Avenue. Developers have reimagined Front Street, which serves as the central spine of the neighbourhood, as an extra-wide tree-lined promenade. In 2013, Corktown Common, a $135-million park in the neighbourhood�s far east end, opened; it has won multiple awards for its design. When the neighbourhood enters its legacy state in 2016, it will have 40,000 square feet of retail space, much of it health- and wellness-themed. Waterfront Toronto has plans to develop three more blocks of the site in the coming years.

After the cyclists and soccer players have departed, most of the site returns to the possession of developers Dundee Kilmer in September. Then, over the span of six to eight months, the condo buildings will get a dramatic facelift: the cheap broadloom installed in the hallways of Canary Park will be torn out and replaced with something more high-end. The floors in Canary District, now painted concrete, will be laid with gleaming hardwood. Kitchens will be installed. The temporary walls that were put in to turn two-bedroom units into three-bedroom ones will be removed, flooding the living and dining area with natural light.

The neighbourhood�s first phase also includes another condominium (which includes affordable housing units), a residence for George Brown College students, two rental apartment buildings and an expansive YMCA.

Organizers are desperate to avoid the fate of Vancouver�s Olympic Village. When that city�s False Creek neighbourhood transitioned into its post-games �legacy� state, the developer went bankrupt and the city had to take control of the project. Condos were slow to sell and for years the neighbourhood was seen as a ghost town. The community is deemed a success now, but it took several years to get there. In 2014 the city finally recovered the $690-million in construction debt it took on through sales of condos and retail spaces.

Members of the Toronto team blame the ambition of Vancouver�s Olympic Village designers, who used innovative and expensive renewable heating and stormwater management technologies to make the buildings more sustainable, for some of its initial struggles. Also, �Vancouver built all the units out like they were ready for final occupancy, and I think that cost them up front,� Meg Davis, vice-president of development for Waterfront Toronto, said. Fewer athletes could be accommodated in each unit, and far more units had to be constructed. Toronto has built just 1,300 units to house 10,000 athletes.

In the Canary District building, 90 per cent of units have already been sold, while Canary Park is 40 per cent sold, says Ken Tanenbaum of development consortium Dundee Kilmer, which won the contract to build the neighbourhood. He says the remaining buildings will be erected in response to market demand � which, if recent trends continue, shouldn�t be difficult.

For the past decade, developers were focused on neighbourhoods such as Liberty Village and Cityplace in the west downtown, but now that those areas are largely built out, the downtown east area has become �a real growth node,� says Pauline Lierman, the director of market research at Urbanation Inc., which tracks Toronto�s condo market. Last year, 17 per cent of all sales in the GTA happened in the neighbourhoods between Yonge Street and the Don Valley Parkway.

And will the Canary District work as a neighbourhood? Toronto�s track record with master-planned communities is spotty; the first iterations of Lawrence Heights and Regent Park are remembered as failed endeavours. But the St. Lawrence neighbourhood, just west of the Distillery District, has been almost universally praised as a success. Built in the 1970s, its mix of Toronto Community Housing towers, townhouses and commercial properties has attracted families, young professionals and seniors from a range of backgrounds.

�The single most important thing about St. Lawrence was it was conceived as an extension of the already existing city, rather than as a brand-new alternative urban idea,� says George Baird, a key adviser on the project who is an emeritus professor of architecture at the University of Toronto. Mr. Baird said he�s optimistic about the Canary District because Waterfront Toronto (on whose design review committee he sits) has adopted that ideal. In fact, he says the West Don Lands are even further ahead than St. Lawrence � thanks to the inclusion of student housing and a recreation centre which will draw visitors who live outside the neighbourhood.

On a hard-hat tour of the site in late January, Mr. Tanenbaum pauses to point out evidence that the neighbourhood isn�t just designed to make a one-time splash during the Games, but to serve the community for the long term. He stops in front of a grate on Front Street in which trees are planted with plenty of space to take root. Planners created corridors between and under buildings to provide direct routes for pedestrians. The array of sustainability features will help all buildings on site meet the LEED Gold standard.

While these aspects of the design may certainly help market the neighbourhood, a diverse mix of residents and connectivity to other parts of the city are far more essential to the long-term success of Canary District, says Ute Lehrer, an environment studies professor at York University who studies the way built environments are used.

�Of course design is an important part of city building, but good design itself doesn�t create good neighbourhoods,� she said. �It gives a good container within which a good neighbourhood can evolve.�

So many things to lol at in this revelation. I love that Toronto has a distillery district. Was any hard alcohol actually manufactured here or is this just like how realtors have convinced everyone to call the DTES ~*railtown*~?

# ? Feb 8, 2015 23:46

Kafka Esq.: Jan 1, 2005; "If you ever even think about calling me anything but 'The Crab' I will go so fucking crab on your ass you won't even see what crab'd your crab" -The Crab(TM)

http://en.wikipedia.org/wiki/Distillery_District

Yes, several old distilleries and now a microbrewery, and it's very nice. Surprise, wrong again, CI.

edit: careful not to get some "craft beer marxist" juice on you.

# ? Feb 9, 2015 00:08

namaste friends: Sep 18, 2004; by Smythe

Lmao

# ? Feb 9, 2015 00:10

namaste friends: Sep 18, 2004; by Smythe