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

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

etalian: Mar 20, 2006

Millions of Crows posted:

Now I'm hoping to see Harper arrested like several of his staff and MPs.
Harper was our Nixon, and we'll see more evidence of his corruption now that he can't silence those under him.

Hopefully we find more about what he did during his 10 year reign.

etalian fucked around with this message at 03:33 on Oct 21, 2015

# ? Oct 21, 2015 02:07

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# ? May 15, 2024 07:35

namaste friends: Sep 18, 2004; by Smythe

http://www.theglobeandmail.com/glob...rticle26886456/

quote:

8. Home buying: Relaxing the rules under which people can pull money out of a registered retirement savings plan for a house down payment. The Home Buyers� Plan currently focuses on first-time buyers; people would additionally be able to use it multiple times when moving for work, after the death of a spouse, after a marital split or to take in an elderly relative.

lol gently caress off idiots

# ? Oct 21, 2015 03:02

Hal_2005: Feb 23, 2007

Hamelekim posted:

Fun fact. The blue ridings from Manitoba through Alberta match up exactly with the historical immigration pattern of people from the US to Canada in the very early days of the country.

Proof? The RvB divide looks pretty evenly along working (profitable) economic centers and welfare rural corridors. In fact if you look at the Elections Canada poll plot it squares exactly with the most bitter, underemployed areas voting for populism & redistribution. Immigrants on average voted hard C with the exception of Montreal.

# ? Oct 21, 2015 05:47

etalian: Mar 20, 2006

Hal_2005 is a tory? what a shocking development.

# ? Oct 21, 2015 07:31

Cuntellectual: Aug 6, 2010

Millions of Crows posted:

Now I'm hoping to see Harper arrested like several of his staff and MPs.
Harper was our Nixon, and we'll see more evidence of his corruption now that he can't silence those under him.

More like our Trump.

I really hope that Trudeau follows through with some of his promises. Can't be much worse than Harper though.

Hal_2005 posted:

Proof?

Highest concentration of right wing dickheads.

# ? Oct 21, 2015 07:37

Hamelekim: Feb 25, 2006; And another thing... if global warming is real. How come it's so damn cold?; Ramrod XTreme

Hal_2005 posted:

Proof? The RvB divide looks pretty evenly along working (profitable) economic centers and welfare rural corridors. In fact if you look at the Elections Canada poll plot it squares exactly with the most bitter, underemployed areas voting for populism & redistribution. Immigrants on average voted hard C with the exception of Montreal.

My Canadian political history class. Granted that was back in 2000 but I remember the map.

I am not saying there is anything to it, just that it is interesting how they match up so well.

# ? Oct 21, 2015 10:03

Professor Shark: May 22, 2012

Hamelekim posted:

My Canadian political history class.

LIEberal socialist institution brain wash centers don't count

# ? Oct 21, 2015 11:30

ocrumsprug: Sep 23, 2010; by LITERALLY AN ADMIN

Hamelekim posted:

My Canadian political history class. Granted that was back in 2000 but I remember the map.

I am not saying there is anything to it, just that it is interesting how they match up so well.

Don't reply to him like he's a real person. Asks you for proof of you silly anecdote, then immediately drops an evidence free Parizeau-like election analysis.

# ? Oct 21, 2015 14:47

namaste friends: Sep 18, 2004; by Smythe

Boc announcement right now motherfuckers

# ? Oct 21, 2015 14:59

namaste friends: Sep 18, 2004; by Smythe

Overnight rate held at 0.5%.

# ? Oct 21, 2015 15:00

namaste friends: Sep 18, 2004; by Smythe

quote:

*BOC RAISES 3Q GDP TO 2.5% FROM 1.5%, CUTS 4Q TO 1.5% FROM 2.5%

https://twitter.com/LJKawa/status/656832716894244864?s=09

# ? Oct 21, 2015 15:03

Rime: Nov 2, 2011; by Games Forum

So it balances out overall? Totally meaningless?

# ? Oct 21, 2015 15:14

namaste friends: Sep 18, 2004; by Smythe

Tldr Canada's economy is still growing like poo poo. Don't expect it to pick up for a while.

# ? Oct 21, 2015 15:49

namaste friends: Sep 18, 2004; by Smythe

But hey, keep borrowing money to buy premium luxury goods. You deserve it!

# ? Oct 21, 2015 15:53

Risky Bisquick: Jan 18, 2008; PLEASE LET ME WRITE YOUR VICTIM IMPACT STATEMENT SO I CAN FURTHER DEMONSTRATE THE CALAMITY THAT IS OUR JUSTICE SYSTEM.; Buglord

Cultural Imperial posted:

Tldr Canada's economy is still growing like poo poo. Don't expect it to pick up for a while.

Stop trying to downplay the Harper governments efforts to turn this boat around

# ? Oct 21, 2015 16:03

CommieGIR: Aug 22, 2006; The blue glow is a feature, not a bug; Pillbug

jm20 posted:

Stop trying to downplay the Harper governments efforts to turn this boat around

"Let's plug those holes in the ship that we made ourselves by putting more holes in the ship in the name of short term corporate gains."

# ? Oct 21, 2015 16:12

Precambrian Video Games: Aug 19, 2002

Hal_2005 posted:

Proof? The RvB divide looks pretty evenly along working (profitable) economic centers and welfare rural corridors. In fact if you look at the Elections Canada poll plot it squares exactly with the most bitter, underemployed areas voting for populism & redistribution. Immigrants on average voted hard C with the exception of Montreal.

Humour me as to which poll plots you're talking about as I only see preliminary riding results on the Elections Canada website.

also lol at your vivid imagination

# ? Oct 21, 2015 16:17

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

Oslo is banning cars from downtown.

How long before we can get Toronto and Vancouver to follow suit?

# ? Oct 21, 2015 18:51

namaste friends: Sep 18, 2004; by Smythe

I've said for years that Vancouver should have congestion charging. $50 to drive your loving car through downtown motherfuckers

# ? Oct 21, 2015 19:03

bring back old gbs: Feb 28, 2007; by LITERALLY AN ADMIN

Cultural Imperial posted:

I've said for years that Vancouver should have congestion charging. $50 to drive your loving car through downtown motherfuckers

That would be awesome if the fee went directly to transit infrastructure. Turn Mississauga into a giant parking lot and make the Gardiner a big old streetcar track.

# ? Oct 21, 2015 19:09

Lexicon: Jul 29, 2003; I had a beer with Stephen Harper once and now I like him.

Brannock posted:

Oslo is banning cars from downtown.

How long before we can get Toronto and Vancouver to follow suit?

It'll never happen. Impinging on a Canadian's right to motor their car everywhere at zero variable cost beyond the fuel is like taking a Texan's guns away.

# ? Oct 21, 2015 19:09

Risky Bisquick: Jan 18, 2008; PLEASE LET ME WRITE YOUR VICTIM IMPACT STATEMENT SO I CAN FURTHER DEMONSTRATE THE CALAMITY THAT IS OUR JUSTICE SYSTEM.; Buglord

Cultural Imperial posted:

I've said for years that Vancouver should have congestion charging. $50 to drive your loving car through downtown motherfuckers

Only if you could bill directly to your property tax, and defer it forever, this is the Vancouver way.

# ? Oct 21, 2015 19:12

Tipps: Apr 18, 2006; party in the front

business in the back

Brannock posted:

Oslo is banning cars from downtown.

How long before we can get Toronto and Vancouver to follow suit?

You need a car to go to the downtown Vancouver costco though. :smith:

# ? Oct 21, 2015 19:17

Square Peg: Nov 11, 2008

Tipps posted:

You need a car to go to the downtown Vancouver costco though.

Bike trailers are a thing, thought they're hard to lock up.

# ? Oct 21, 2015 20:49

tagesschau: Sep 1, 2006; Guten Abend, meine Damen und Herren.

Lexicon posted:

It'll never happen. Impinging on a ~~Canadian's~~ North American's right to motor their car everywhere at zero variable cost beyond the fuel is like taking a Texan's guns away.

# ? Oct 21, 2015 21:49

Coolwhoami: Sep 13, 2007

E: WRONG THREAD gently caress

# ? Oct 21, 2015 22:08

The Butcher: Apr 20, 2005; Well, at least we tried.; Nap Ghost

Square Peg posted:

Bike trailers are a thing, thought they're hard to lock up.

Starting to see cargo bikes catching on around town too. They are pretty cool. I'd probably get one if I ever had kids.

# ? Oct 22, 2015 00:00

I would blow Dane Cook: Dec 26, 2008

quote:

Bank lending lacked 'common sense', says APRA

The powerful banking regulator has criticised the mortgage lending behaviour of some banks before it stepped up scrutiny of the sector earlier this year, saying some lending standards had fallen to "horribly low" levels that lacked "common sense."

The chairman of the Australian Prudential Regulation Authority, Wayne Byres, also conceded that the regulator would have liked to uncover the poor lending standards earlier than it did.

His comments are the latest negative assessment of credit standards in the home loan market - a problem the regulator has sought to address through a series of curbs on bank lending activity.

The Reserve Bank last week also said lending standards in the property market - which the two regulators view as the main risk to financial stability - had been worse than thought.

Appearing before a Senate estimates in Canberra, Mr Byres highlighted the regulator's surprise at how far bank credit standards had been eroded by competition between banks.

It launched detailed reviews of the major banks' loan standards in the first half of the year, which led to banks toughening up their credit policies for many borrowers.

"We were a bit surprised by how much the competitive pressures in the industry and the competitive dynamic in the industry, had led people to do things, albeit at the margins but nonetheless, do things that were really in our view lacking in common sense," Mr Byres said.

These flaws in loan standards came despite repeated warnings from APRA over the housing market - where very low interest rates, rising house prices, and high household debt have increased the amount of risk significantly.

"We had spent a lot of time in 2013 and 2014 reminding [Authorised deposit-taking institutions], reminding their management, reminding their boards, about the importance of lending standards, we sought assurances from boards that they were on top of these issues," he said.

Later in the hearing, Mr Byres defended APRA's 10 per cent cap on housing investor credit growth against claims it was preventing some smaller lenders from competing aggressively in regional areas where house price growth was soft. He argued competition between banks had dragged loan standards to "horribly levels" in some areas.

"I don't deny there's an element of bluntness to it, and it's very difficult for us to go around and say the right number in this postcode is 'X' and the number in another postcode is 'Y,'" he said.

"Does this have competitive implications? Yes it does, but the whole issue I think started because competition was driving standards to a horribly low level."

Mr Byres said APRA wished the problems had been detected earlier than they were, but argued standards had improved over this year.

"With the benefit of hindsight, obviously we wish we got onto this a bit sooner, but we are where we are. If we act too soon we get accused of being too interventionist and managing institution, it's a delicate balance to be had," he said.

Mr Byres said the quality of lending now was "noticeably superior" than what was happening before it wrote to banks late last year outlining various actions to improve loan standards.

It also forcing banks to slow the rate of credit growth in the housing investor loan market to less than 10 per cent a year.

In response, banks are forcing investors to stump up bigger deposits, they have raised interest rates, and customers' ability to cope with higher repayments are being tested more rigorously.

The deterioration in loan standards was not always obvious, Mr Byres said.

Spotting the problems required taking a more "forensic" look at what banks were doing, such as the calculations they were making to test customers' ability to pay off loans or deal with higher interest rates.

"When we did that in a more forensic way, we weren't particularly comfortable with what we saw," he said.

As well as scrutinising bank lending, APRA has also been pushing up capital requirements for banks, which has prompted the majors to raise more than $18 billion in equity capital.

Read more: http://www.afr.com/business/banking-and-finance/bank-lending-lacked-commonsense-says-apra-20151021-gkfbkt#ixzz3pGYQ7n91
Follow us: @FinancialReview on Twitter | financialreview on Facebook

# ? Oct 22, 2015 05:02

Furnaceface: Oct 21, 2004

Im having a real hard time accepting the fact that Australia just might win the race to the bottom.

# ? Oct 22, 2015 06:57

MiddleOne: Feb 17, 2011

Furnaceface posted:

Im having a real hard time accepting the fact that Australia just might win the race to the bottom.

Sweden is doing real well in playing catch-up so its not like its settled yet. :unsmigghh:

# ? Oct 22, 2015 07:50

I would blow Dane Cook: Dec 26, 2008

Commonwealth bank of Australia raised mortgage rates 0.18%

# ? Oct 22, 2015 07:54

Rick Rickshaw: Feb 21, 2007; I am not disappointed I lost the PGA Championship. Nope, I am not.

Lexicon posted:

It'll never happen. Impinging on a Canadian's right to motor their car everywhere at zero variable cost beyond the fuel is like taking a Texan's guns away.

I think once the robots take over driving for us, people will see things differently. They won't take it so personal. Personal motor vehicles will be treated more similarly to any other mode of transportation.

# ? Oct 22, 2015 13:26

MickeyFinn: May 8, 2007; Biggie Smalls and Junior Mafia some mark ass bitches

Rick Rickshaw posted:

I think once the robots take over driving for us, people will see things differently. They won't take it so personal. Personal motor vehicles will be treated more similarly to any other mode of transportation.

If you mean they will be shared, no way. Not until homelessness is solved, and to a smaller extent assholism is solved, otherwise you can look forward to your autonomous car returning to pick you up filled with urine and feces from a day of driving around.

# ? Oct 22, 2015 15:17

Lexicon: Jul 29, 2003; I had a beer with Stephen Harper once and now I like him.

MickeyFinn posted:

If you mean they will be shared, no way. Not until homelessness is solved, and to a smaller extent assholism is solved, otherwise you can look forward to your autonomous car returning to pick you up filled with urine and feces from a day of driving around.

True enough. Whenever I rent a car2go, I have to climb over three feet of human poo poo just to get to the ignition.

# ? Oct 22, 2015 15:55

vyelkin: Jan 2, 2011

The future is Uber with autonomous cars. Instead of owning your own car you will rent an autonomous one for ten minutes at a time using an app on your smartphone. All your money will be funneled to the rich people who own the company, which employs one hundred mechanics and software engineers and put a hundred thousand people out of work.

# ? Oct 22, 2015 17:08

Square Peg: Nov 11, 2008

vyelkin posted:

The future is Uber with autonomous cars. Instead of owning your own car you will rent an autonomous one for ten minutes at a time using an app on your smartphone. All your money will be funneled to the rich people who own the company, which employs one hundred mechanics and software engineers and put a hundred thousand people out of work.

This but all industries everywhere. Luddism has never been more relevant and minimum income can't come soon enough.

# ? Oct 22, 2015 17:30

MickeyFinn: May 8, 2007; Biggie Smalls and Junior Mafia some mark ass bitches

Lexicon posted:

True enough. Whenever I rent a car2go, I have to climb over three feet of human poo poo just to get to the ignition.

You are talking about a rental car, I am talking about public transport with private cars because the poster I quoted said "personal motor vehicles will be treated more similarly to any other mode of transportation." I admit that my post was a bit hyperbolic, but I regularly (few times a month) wake up to a parking spot (and car) that has been showered with piss by some person who doesn't have a better place to do it. I would argue that even a small chance of finding a turd in one's personal car will turn off a majority of people to the idea of letting their car drive around and be treated like any other mode of transportation.

# ? Oct 22, 2015 17:51

CommieGIR: Aug 22, 2006; The blue glow is a feature, not a bug; Pillbug

I'm hoping that all this sudden swing to the Left will result in more science funding from Trudeau.

# ? Oct 22, 2015 17:53

velvet milkman: Feb 13, 2012; by R. Guyovich

CommieGIR posted:

I'm hoping that all this sudden swing to the Left will result in more science funding from Trudeau.

Apparently they are planning to restore $40 million to the DFO, but I haven't bothered to verify the claim. It would be great of they did.

# ? Oct 22, 2015 18:02

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# ? May 15, 2024 07:35

Lexicon: Jul 29, 2003; I had a beer with Stephen Harper once and now I like him.

MickeyFinn posted:

You are talking about a rental car, I am talking about public transport with private cars because the poster I quoted said "personal motor vehicles will be treated more similarly to any other mode of transportation." I admit that my post was a bit hyperbolic, but I regularly (few times a month) wake up to a parking spot (and car) that has been showered with piss by some person who doesn't have a better place to do it. I would argue that even a small chance of finding a turd in one's personal car will turn off a majority of people to the idea of letting their car drive around and be treated like any other mode of transportation.

Obviously my post was tongue in cheek, but my underlying point is simple that private ownership is likely nonsensical in a world of autonomous vehicles. The economics are too compelling to have vehicles that work all the time versus sit idle 99% of the time. I feel very certain that the future of cars once you add automation is the car2go model - i.e. club membership essentially.

# ? Oct 22, 2015 18:13

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