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While the market where I am selling my house (got a job in another town) is completely dead, I learn that Canada has its own "Tiny Trump" and he's doing realtor conferences (unfortunately, link in French only, but the kid has his own website too).
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Nov 23, 2015 18:29
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Jorghnassen posted:While the market where I am selling my house (got a job in another town) is completely dead, I learn that Canada has its own "Tiny Trump" and he's doing realtor conferences (unfortunately, link in French only, but the kid has his own website too). drat, he's already got the hair started. 
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Nov 23, 2015 19:16
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McGavin posted:drat, he's already got the hair started. How old is he? Because he looks like he hasn't quite hit puberty yet.
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Nov 23, 2015 19:48
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OhYeah posted:How old is he? Because he looks like he hasn't quite hit puberty yet. 14. He owns a real estate portfolio worth $2.7 million. McGavin fucked around with this message at 20:13 on Nov 23, 2015 |
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Nov 23, 2015 19:56
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McGavin posted:14. He has a $2.7 million net worth. From what?! Don't say "real estate".
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Nov 23, 2015 19:57
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OhYeah posted:From what?! Okay. 
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Nov 23, 2015 19:59
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Are minors allowed to own property in Canada? 
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Nov 23, 2015 22:10
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It's his parents doing poo poo in his name for some reason. He has zero legal authority.
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Nov 23, 2015 23:20
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cowofwar posted:It's his parents doing poo poo in his name for some reason. He has zero legal authority. How would that play out if the investments soured? Would he solely declare bankruptcy?
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Nov 24, 2015 00:20
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jm20 posted:How would that play out if the investments soured? Would he solely declare bankruptcy? Eh never mind too much to post from mobile. Mantle fucked around with this message at 00:26 on Nov 24, 2015 |
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Nov 24, 2015 00:23
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Yeah it can take a while for the effects of a downturn to really hit. It hits the poor first of course and hits them hard, but they're the poor and government/middle class don't give a gently caress. So things are tight and one of you lost your job and you're household finances are in the red but it's no reason to panic and downsize your house or do something drastic like reflect on your insane lifestyle, nah, just take out of line of credit, you're still building equity on your house. Ask you wife's wealthy parents to give you a hand, I mean the paid for your downpayment they're going to make sure you don't lose your house over this little bump in the road. There's always credit cards, re-mortgaging the house, so many options. But when those options dry up, when people decide en mass that they need to cash in all that house equity at the same time, that's when people are really going to feel it.
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Nov 24, 2015 00:28
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jm20 posted:How would that play out if the investments soured? Would he solely declare bankruptcy? Mr. Justice Buller, Campton v. Collinson, 1788 posted:An infant is disabled from binding himself, except when it is for his benefit, for want of judgment and capacity. Basically, a contract with a minor is void, unless the contract is to the minor's benefit. If it is to the minor's benefit, the contract is voidable at the insistence of the minor. Don't get into contracts with minors.
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Nov 24, 2015 00:50
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Lol supposedly the kid raised his first downpayment, $32,000, selling his family's eggs. At age five. Yeah. Right. There's a news story here but not the one they're selling us.
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Nov 24, 2015 00:51
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Ceciltron posted:Lol supposedly the kid raised his first downpayment, $32,000, selling his family's eggs. At age five. Yeah. Right. There's a news story here but not the one they're selling us. The Canadian dream is alive and well! Anyone can prosper if they work hard! 
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Nov 24, 2015 00:58
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Ceciltron posted:Lol supposedly the kid raised his first downpayment, $32,000, selling his family's eggs. At age five. Yeah. Right. There's a news story here but not the one they're selling us. Selling a supply managed commodity to amass an initial down payment that bootstraps a real estate empire. How delightfully 
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Nov 24, 2015 04:41
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http://www.macleans.ca/economy/whats-the-point-of-vancouver/ Just posting a data point. Don't give a gently caress anymore.
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Nov 24, 2015 14:14
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http://business.financialpost.com/news/energy/the-average-house-in-fort-mcmurray-has-lost-117000-or-20-of-its-in-value-in-one-yearquote:The slumping oilpatch in Alberta continues to take its toll on the Fort McMurray housing market, as the average MLS sale price of a home in that northern community plunged by more than $117,000 in October. real estate never goes down lol gently caress alberta
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Nov 24, 2015 14:17
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http://www.cbc.ca/news/canada/british-columbia/marco-kozlowski-investor-seminars-testimonials-1.3325211quote:Marco Kozlowski's investor seminars use testimonials revoked by clients whose real estate deals collapsed get rich on real estate errybody
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Nov 24, 2015 14:22
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How the gently caress are houses in Fort Mac that expensive? What the hell were they at before the oil crash? 
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Nov 24, 2015 17:12
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You don't want to know. Fort Mac was and is stupidly expensive. So expensive it's far cheaper to buy a house in Nova Scotia and fly every god drat week then pay for a house in Fort Mac.
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Nov 24, 2015 17:25
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So do percentages not exist in real estate? Absolute values are not useful.
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Nov 24, 2015 18:46
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Cultural Imperial posted:http://business.financialpost.com/news/energy/the-average-house-in-fort-mcmurray-has-lost-117000-or-20-of-its-in-value-in-one-year Remember how a certain robot tried to argue that sucking billions of dollars out of the economy due to the commodity crash wasn't a major factor? It's not so much the capex that will hurt but more due to how the commodity bubble influenced everything from home prices, manufacturing good orders and also office space in downtown calgary.
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Nov 24, 2015 19:01
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I was amusedly looking at houses for sale in rural NS; basically they cost what houses should cost.
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Nov 24, 2015 19:02
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El Scotch posted:I was amusedly looking at houses for sale in rural NS; basically they cost what houses should cost. What a house should cost, or what a house should cost in rural NS?
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Nov 24, 2015 19:24
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When the US raises interest rates, does anyone know what Canada will do with their interest rates? I can see it it rising to prevent further devaluation in the dollar, but i can also see it keeping low to prevent popping the housing bubble. Has this been analyzed and published anywhere?
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Nov 24, 2015 19:27
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Furcifer posted:When the US raises interest rates, does anyone know what Canada will do with their interest rates? I can see it it rising to prevent further devaluation in the dollar, but i can also see it keeping low to prevent popping the housing bubble. Has this been analyzed and published anywhere? If the BoC kept rates low that isn't enough to stymie the rates rising, the US interest rates will still drive up the Canadian mortgage rates in Canada.
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Nov 24, 2015 19:33
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ocrumsprug posted:What a house should cost, or what a house should cost in rural NS? Yeah sometimes I look at what houses cost back home in Northern Ontario and think "hmmm that's really cheap, I could live there no problem" Except that I wouldn't have a job that pays anywhere close to what I'm making now and I'd be living somewhere with nothing to do except drink
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Nov 24, 2015 19:35
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jm20 posted:If the BoC kept rates low that isn't enough to stymie the rates rising, the US interest rates will still drive up the Canadian mortgage rates in Canada. To expand on this, Canadian mortgage rates are governed by the bond market and not (outside of short term variable mortgages) the BoC rate. When the US increases rates, the bond market will follow.
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Nov 24, 2015 19:38
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triplexpac posted:Yeah sometimes I look at what houses cost back home in Northern Ontario and think "hmmm that's really cheap, I could live there no problem" 
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Nov 24, 2015 20:04
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All countries follow the US treasury rates. US treasuries are the gold standard and as such everyone else has to pay higher rates.
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Nov 24, 2015 20:34
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ocrumsprug posted:What a house should cost, or what a house should cost in rural NS? What they should generally cost.
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Nov 24, 2015 20:40
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ocrumsprug posted:To expand on this, Canadian mortgage rates are governed by the bond market and not (outside of short term variable mortgages) the BoC rate. When the US increases rates, the bond market will follow. The fact that most people don't understand this simple and yet critically important to point tells me all I need to know about the housing "market".
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Nov 24, 2015 21:08
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Yeah, I always hear about people / goons buying large acreages in upstate New York, or Virginia, or the east coast for, like, $20k or less. All I can think to myself is "I live in one of the most sparsely populated geopolitical regions on the earth, where the gently caress is my discount?" 
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Nov 24, 2015 21:11
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Franks Happy Place posted:The fact that most people don't understand this simple and yet critically important to point tells me all I need to know about the housing "market". Remember when the BoC cut it's rate this year, and important people with serious titles started to frown at the banks for not lowering their rates to follow suit? When the stewards of the economy appear to know less than I do about something, I get pretty worried. ocrumsprug fucked around with this message at 23:19 on Nov 24, 2015 |
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Nov 24, 2015 21:15
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Cultural Imperial posted:http://www.macleans.ca/economy/whats-the-point-of-vancouver/ Naturally: A requisite Hootsuite comment in any article on the economy of Vancouver posted:Even Vancouvers burgeoning tech sector, anchored by fast-growing firms like Hootsuite, has complained about the challenge of luring management talent. I get a sense of this weird anxiety from people who live here about reviews about livability, as though if it was suddenly found that the city wasn't livable that the whole reason for being here would collapse.
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Nov 24, 2015 21:51
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I really wish we still had that tool that gives you an instant property valuation. Or our property listings were like the States and showed stuff like days on the market, last sales price, last sale date, what other house are selling for, etc. gently caress the CREA and its asymmetric information.
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Nov 24, 2015 21:56
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peter banana posted:I really wish we still had that tool that gives you an instant property valuation. Or our property listings were like the States and showed stuff like days on the market, last sales price, last sale date, what other house are selling for, etc. gently caress the CREA and its asymmetric information. Also their agreements which limit how the data can be used so third parties are not permitted to see these statistics for  privacy reasons . Zoocasa was shut due to threatening letters, and several similar services shuttered around the same time. They just invalidate the API key and they can no longer use the MLS database.
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Nov 24, 2015 22:09
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Nov 24, 2015 22:31
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http://www.remonline.com/treb-competition-bureau-present-final-submissions-to-competition-tribunal/ December 2nd is when we might hear a conclusion to the treb vs competition bureau chief case.
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Nov 24, 2015 22:33
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So remember when the Liberals put out their budget guidance and there was like a huge hole in the budget that everyone was like "hey don't put this deficit on the Conservatives to make it look like they were bad at budgets and ran a deficit, they ran a surplus, they did I swear, they did they did they did" (ignoring, of course, the classic accounting shell game of artificially discounting projected future obligations by forward-counting them at a time when nobody is paying a lot of attention to vaguely worded line items)... Well, turns out it was because the CMHC's projecting vastly decreased revenues. Now what would a mortgage insurance company see vastly decreased revenues from? It's a puzzler, son, but let's ask the CMHC. iPolitics posted:The most significant decline in enterprise crown corporations come from the Canada Mortgage and Housing Corporation. In the most recent public corporate plan summary, CMHC noted Total Revenues for 2014 include significant non-recurring gains from the implementation of changes to the Strategic Asset Allocation (SAA) for the mortgage loan insurance investment portfolio. As these gains are non-recurring, 2015 Total Revenues are expected to be lower than 2014. Beyond this, we cannot provide specific detail on the outlook for crown corporations as the revenue forecast presented in the Update includes preliminary financial information which is not yet public, they wrote. Whoa hey, what's Strategic Asset Allocation? Is that a program or something? CMHC posted:The objective of the mortgage loan insurance portfolio is to maximize the total return on a pre-tax basis after related operating expenses. This is achieved through a strategic asset allocation policy that takes into account the time horizon and liquidity needs of the liabilities, as well as the regulatory environment, capital objectives, and risk appetite of the Corporation. Oh. So it's not like a massive withdrawal to increase cash-on-hand in order to cover default risk or anything, it's just that CMHC was seeing a bunch of really good bets paying off last year that aren't paying off this year. Weird! Seat Safety Switch fucked around with this message at 23:00 on Nov 24, 2015 |
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Nov 24, 2015 22:52
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