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.

namaste friends: Sep 18, 2004; by Smythe

http://qz.com/590831/chinas-weak-yu...campaign=buffer

quote:

China�s yuan has fallen 5.9% against the US dollar in the past twelve months, and reached a six-year low on Jan. 6, surprising world markets as well as plenty of people in China. Among them are the families of hundreds of thousands of Chinese students overseas, who are paying hefty tuition bills to universities and private schools in the US and Hong Kong.
In order to hedge against the yuan falling further, some of these families told Quartz they�re pulling their money out of the currency, and converting it to US or Hong Kong dollars (Hong Kong�s dollar is pegged to the US�s).

# ? Jan 24, 2016 04:55

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# ? May 26, 2024 05:39

etalian: Mar 20, 2006

triplexpac posted:

So I just watched The Big Short, really entertaining. How legit was it to what really happened, and how much of that might apply to what's going on in Canada?

When main difference similar to The Big Short Canada's government isn't even trying to aggressively regulate the bubble and isn't even trying to track things such as foreign ownership.

You also have similar concepts, I Canada you can buy mortgage bonds thanks to the CMHC blessing the whole securitization process.

# ? Jan 24, 2016 05:28

namaste friends: Sep 18, 2004; by Smythe

loving lol

This is right on one of the busiest streets in east vancouver. Not to mention a lovely loving neighbourhood.

# ? Jan 24, 2016 05:42

namaste friends: Sep 18, 2004; by Smythe

I was just reminiscing about this article about Lotos Eaters of Vancouver and I did a little digging on the writer, Howard Rotberg. Holy poo poo this guy is a loving lunatic.

http://www.frontpagemag.com/author/howard-rotberg

# ? Jan 24, 2016 06:06

namaste friends: Sep 18, 2004; by Smythe

hey alberta cheer up

lol

# ? Jan 24, 2016 06:36

Ccs: Feb 25, 2011

Cultural Imperial posted:

http://qz.com/590831/chinas-weak-yu...campaign=buffer

It'll be interesting to see how much international student enrollment from China drops next year because of this. It seems like every other student at Dalhousie is from China, and Sheridan in Ontario also has tons of programs full of mainland students. Although if the Canada dollar has also dropped maybe it won't be that much more expensive for them that it would have been otherwise.

# ? Jan 24, 2016 07:21

etalian: Mar 20, 2006

Cultural Imperial posted:

loving lol

This is right on one of the busiest streets in east vancouver. Not to mention a lovely loving neighbourhood.

looks nasty enough to be on that crack den or million dollar house webpage

# ? Jan 24, 2016 07:26

Juul-Whip: Mar 10, 2008

That site stops being fun once your realize the nicer looking places are always "crack shacks" and the rundown holes are always "mansions".

# ? Jan 24, 2016 12:21

Precambrian Video Games: Aug 19, 2002

Ccs posted:

It'll be interesting to see how much international student enrollment from China drops next year because of this. It seems like every other student at Dalhousie is from China, and Sheridan in Ontario also has tons of programs full of mainland students. Although if the Canada dollar has also dropped maybe it won't be that much more expensive for them that it would have been otherwise.

The Canadian higher education industry would suffer a terrible blow if they couldn't extort (mainly Chinese) foreign students anymore. They might even have to fire some of their useless, overpaid, parasitic administrators if they couldn't charge sometimes barely English-literate students $38,810/year.

# ? Jan 24, 2016 12:32

etalian: Mar 20, 2006

eXXon posted:

The Canadian higher education industry would suffer a terrible blow if they couldn't extort (mainly Chinese) foreign students anymore. They might even have to fire some of their useless, overpaid, parasitic administrators if they couldn't charge sometimes barely English-literate students $38,810/year.

The US does the same thing charging foreign students 4-5x the in state rate so it's a big money maker for the uni.

Even worse over the last 7-8 years all the lovely state government have been clashing higher education spending, so rich spoiler chinese student tuition becomes even more important.

# ? Jan 24, 2016 17:09

Seat Safety Switch: May 27, 2008; MY RELIGION IS THE SMALL BLOCK V8 AND COMMANDMENTS ONE THROUGH TEN ARE NEVER LIFT.; Pillbug

The U of C was already going ahead with building foreign-student-only housing because ghettoizing them on the other end of campus, away from other residence amenities like food, only made sense.

Now they've converted half of it into hotels because famous American universities have their own hotels so why shouldn't we??

# ? Jan 24, 2016 18:22

namaste friends: Sep 18, 2004; by Smythe

quote:

@scoopercooper talked to a Taiwan person Friday: ppl from 1 village in China pooling personal funds to buy $2 million homes in Van.

https://twitter.com/hmacbe/status/691287181734772736?s=09

:stonklol:

namaste friends fucked around with this message at 19:25 on Jan 24, 2016

# ? Jan 24, 2016 19:22

ocrumsprug: Sep 23, 2010; by LITERALLY AN ADMIN

Cultural Imperial posted:

https://twitter.com/hmacbe/status/691287181734772736?s=09

First you complain about lack of diversity in investing. Now you complain about Banana Cart Man diversifying his investment portfolio.

Make up your mind.

# ? Jan 24, 2016 19:51

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

Seat Safety Switch posted:

Now they've converted half of it into hotels because famous American universities have their own hotels so why shouldn't we??

It's probably too large for what's needed, but this isn't a horrible idea considering the campus is located in the rear end end of nowhere. Universities host a lot of people from time to time, and no one wants to stay in some shithole in motel village or commute from downtown every day (while paying the downtown premium for a decent hotel).

# ? Jan 24, 2016 19:53

ocrumsprug: Sep 23, 2010; by LITERALLY AN ADMIN

This guy knows what's up, and that is Vancouver houses. Up up up!

# ? Jan 24, 2016 19:58

namaste friends: Sep 18, 2004; by Smythe

https://twitter.com/Jaytrayne1/status/691330440469155840

https://twitter.com/Jaytrayne1/status/691331872006107136

# ? Jan 24, 2016 19:59

namaste friends: Sep 18, 2004; by Smythe

http://www.afr.com/real-estate/chinas-wobbles-not-good-news-chinese-in-australia-say-20160121-gmaovj

quote:

China's wobbles not good news, Chinese in Australia say

Experts say slowing growth and greater regulation in China, which they view as temporary, will curb the flow of capital into Australia and the demand for property assets.

China announced its gross domestic product growth dropped to 6.9 per cent last Tuesday and Chinese banks started blocking foreign exchange transactions after the government told executives to toughen up capital controls. This comes after its sharemarkets tumbled heavily in the first week of 2016.

"The Chinese government's revision of 6.9 per cent is strategic but only to show they are still in control," Chinese high net worth club ACEC president Richard Yuan said.

Sydney Chinese prestige property agent Michael Zhu said things in China were worse than he thought.

"Whatever it is, things won't be good for China in the next two years. China's conditions are worse than I thought. Many in China are bracing themselves for company collapses and loss of jobs. The stockmarkets have fallen badly and it is inevitable some companies will be in trouble."

Conditions in China, a block on money transfers and Beijing's decision to consolidate the country's state-owned sector, which could result in job losses and a change in business direction, have led to businesses taking a "wait and see" approach.

While the desire to buy was strong, many Chinese investors would not start a transaction because they were unsure it they could close it, Mr Yuan said.

The volume of transactions completed during Chinese New Year holidays, which start in February, would be an indicator of how "bad things are", Mr Zhu added.

The long Chinese New Year holidays is a time when many Chinese are holidaying overseas and "shopping".

"The campaign to crack down on the flow of 'hot money' is not going away," KPMG Asia Business Group leader Doug Ferguson said.

"There could be a short-term problem, especially with the purchase of apartments. Still, we have to bear in mind China has a large number of buyers that could sustain demand despite the tightening."

'NOT EASY TO DO BUSINESS'

Mr Ferguson's optimistic outlook is shared by an equal number of Chinese businesses who are sanguine about China's slowdown, saying a slowdown in investment would be "temporary" as Chinese investors adjust to "new ways of doing business".

The move to stop the flow of "underground" money is the main reason for Beijing's tightening of capital transfers but it is not aimed at stopping legitimate investors from investing outside China, property specialist CBRE head of Asian services NSW Danny Shi said.

"Many businesses find it hard to make a good margin, because they're working in a different kind of market now," Mr Shi said.

"Regulations are increasing. It's not easy to do business there now. President Xi [Jinping] is tracking corruption but the general public views that as good leadership."

"Stopping outflows of capital is not my understanding of the primary intention," KPMG China practice director Tim Lu said.

"In 2015 we saw massive continuing outbound direct investment into Australia by private-sector investors in new sectors such as healthcare, food and agriculture, real estate and infrastructure � all approved by Chinese foreign exchange regulators."

Many agree China's structural changes and desire to release "clean" capital globally means one thing: more investments in Australia, not less.

"Due to the low margins in China because of regulatory restrictions, many will go overseas to trade," CBRE's Mr Shi added.

Knight Frank head of Asian markets Dominic Ong confirmed he had received fresh Chinese interest in Australian property, particularly in prime commercial property and large development sites.

Further, China's healthy consumer economy, fuelled by its middle-class wealth, was replacing its dependence on investments and creating a "new economy", experts agreed.

"The services and consumer products sector is growing steadily above 8 per cent along the east coast and central China . . . the critical driver for future growth for not only China but the region's economy," KPMG China practice leader Helen Zhi Dent said.

SLOWDOWN AT CASINO TABLES

Think Global China trend expert David Thomas said: "The main point to make about China is this tricky rebalancing from heavy industry to domestic consumption and services. You could argue that it's amazing that despite this major transition, China's economy is still growing at 6 to 7 per cent.

"There's no sign of a slowing on the ground, except perhaps on the casino tables."

The slowdown in Macau casinos is a result of the crackdown of corruption.

"China is working through some tough structural changes. We have seen some temporary delay in major investment decisions which could have contributed to the slowdown," investment advisory firm Jing Meridian director Jingmin Qian said.

"The structural change is good for China. The consumer demand is strong and will become a bigger driver of the growth. So it's too early to make a negative judgment of China's economy. The world outside China is learning about them as they are learning about the process themselves.

"The world's second-largest economy growing at 6.9 per cent is still very good. They have done what no other country has ever done before."

oh well lol i guess

# ? Jan 24, 2016 20:05

etalian: Mar 20, 2006

"The world's second-largest economy growing at 6.9 per cent is still very good. They have done what no other country has ever done before.

# ? Jan 24, 2016 21:00

namaste friends: Sep 18, 2004; by Smythe

https://twitter.com/SBarlow_ROB/status/691347626587983872

# ? Jan 24, 2016 21:06

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

Prestige Property Agent.

# ? Jan 24, 2016 21:37

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

Great news everyone!

quote:

Falling loonie fueling foreign interest in Vancouver real estate, say industry experts
Stability of Canadian real estate and the favourable exchange rate make Vancouver an attractive investment
CBC News Posted: Jan 22, 2016 7:55 AM PT Last Updated: Jan 22, 2016 1:13 PM P

Don't expect the economic head winds slowing Canada's economy to have the same effect on Vancouver's real estate market.

That was the message from a panel of developers at the Urban Development Institute's sold out industry event yesterday.

Jon Stovell, the president of Reliance Properties told the crowd the free falling loonie has made the city even more enticing to foreign buyers, and there is no forecasting where it will end.

"Our market's gone down a rabbit hole, you know. Up is down, down is up and the clocks are running backward � We're seeing records surpassed every day," said Stovell.

Investors are coming from all around the world to take advantage of the falling exchange rates, says Stovell, who cites the example of a German billionaire who was recently in town looking to buy a downtown Vancouver tower.

"Anybody who's got a lot of money to invest is probably working with a fair degree of American dollars," he said.

Other members of the panel highlighted the relative stability of Canadian real estate values when compared with more volatile investments such as stocks.

But it is not just investors putting pressure on prices. Stovell says more and more people want to move to Vancouver to live or vacation.

"People from Alberta are moving back here, and Americans are seeing Vancouver again. so it's really in the spotlight right now."

All that extra attention is bound to keep pushing prices skyward, he says.

# ? Jan 24, 2016 22:23

namaste friends: Sep 18, 2004; by Smythe

So basically 2 million dollar crack houses will be worth 3 million next year

# ? Jan 24, 2016 22:33

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

While that's bad in most respects (especially for anyone living in a market where foreign investment is significant), it could help drive the dollar back up, and I'm a big fan of that! I've been putting off a vacation until currency conversion doesn't gently caress me so hard...

# ? Jan 24, 2016 22:34

Furnaceface: Oct 21, 2004

Vancouver is going to become a city of 4 million dollar homes but no one actually living in the city.

# ? Jan 24, 2016 22:37

the talent deficit: Dec 20, 2003; self-deprecation is a very british trait, and problems can arise when the british attempt to do so with a foreign culture

Furnaceface posted:

Vancouver is going to become a city of 4 million dollar homes but no one actually living in the city.

it already is. take a walk in kerrisdale or shaugnessy in the evening and check out how many houses are completely dark

# ? Jan 24, 2016 22:49

unlimited shrimp: Aug 30, 2008

Helsing posted:

Great news everyone!

We should cut the bullshit and start building a ghost city in the BC interior to funnel foreign investment. We can even use TFWPs to build it.

# ? Jan 24, 2016 22:57

vyelkin: Jan 2, 2011

PT6A posted:

While that's bad in most respects (especially for anyone living in a market where foreign investment is significant), it could help drive the dollar back up, and I'm a big fan of that! I've been putting off a vacation until currency conversion doesn't gently caress me so hard...

Just go somewhere that still has a favourable conversion.

# ? Jan 24, 2016 23:04

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

vyelkin posted:

Just go somewhere that still has a favourable conversion.

That would require me to go to Mexico, though. Europe is still decent, the CAD/EUR is still sitting around where it was in 2014, though it's not nearly as good as it was in 2015. Also, Europe has the distinct advantage of not being a third-world shithole.

# ? Jan 24, 2016 23:18

Mandibular Fiasco: Oct 14, 2012

quote:

Chinese high net worth club ACEC president Richard Yuan

Is this for real? The president of the Chinese high net worth club has the same last name as the currency?

"Hello, my name is John Loonie. I'm the president of the Canada high net worth club."

WTH?

# ? Jan 24, 2016 23:28

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

Mandibular Fiasco posted:

Is this for real? The president of the Chinese high net worth club has the same last name as the currency?

"Hello, my name is John Loonie. I'm the president of the Canada high net worth club."

WTH?

I don't believe the tone is marked in either case, so it's hard to be sure. There are a lot of homonyms in Mandarin, even when tone is marked (I think...?).

# ? Jan 24, 2016 23:30

Vehementi: Jul 25, 2003; YOSPOS

the talent deficit posted:

it already is. take a walk in kerrisdale or shaugnessy in the evening and check out how many houses are completely dark

What are some particularly representative streets? Haven't been in the area in a long time but this sounds fun

# ? Jan 24, 2016 23:32

vyelkin: Jan 2, 2011

Mandibular Fiasco posted:

Is this for real? The president of the Chinese high net worth club has the same last name as the currency?

"Hello, my name is John Loonie. I'm the president of the Canada high net worth club."

WTH?

Dollar is not that uncommon a surname.

https://en.wikipedia.org/wiki/Dollar_(surname)

# ? Jan 24, 2016 23:39

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

PT6A posted:

That would require me to go to Mexico, though. Europe is still decent, the CAD/EUR is still sitting around where it was in 2014, though it's not nearly as good as it was in 2015. Also, Europe has the distinct advantage of not being a third-world shithole.

Mexico is not a shithole. Places in it certainly are, but the country as a whole is full of excellent people.

# ? Jan 25, 2016 00:33

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

MickeyFinn posted:

Mexico is not a shithole. Places in it certainly are, but the country as a whole is full of excellent people.

Most shitholes are full of really excellent people, and often excellent food and booze, and frequently very nice natural wonders as well. For example, I love Cuba in a lot of ways, but it's unquestionably a shithole and as long as flights to Europe are basically the same price, I don't think I'll be going back very soon.

Edit: but you're right, I should give Mexico a chance. It just doesn't seem like my cup of tea. I think it would be much more dangerous if I carried on the way I do in Madrid or Havana. Is there a spot you'd recommend for a more-cultural less beach oriented vacation? I've heard DF can be cool, but it's so large as to be a bit overwhelming without someone you trust to point you in the right direction. The other places that have come up are Merida and Puerto Vallarta, for what that's worth, and I've heard horror stories specifically about Mazatlan and Huatulco.

PT6A fucked around with this message at 01:28 on Jan 25, 2016

# ? Jan 25, 2016 01:23

Marijuana Nihilist: Aug 27, 2015; by Smythe

go to peru and drink ayahuasca in the andes mountains

# ? Jan 25, 2016 01:31

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

Marijuana Nihilist posted:

go to peru and drink ayahuasca in the andes mountains

Peru (and Chile) is on my short-list, but I will not be taking psychedelics. The main issue is transiting through the US, which is unpleasant, or flying Air Canada through Toronto, which is worse. Hopefully we can tempt Copa into a YYC or YVR route eventually.

# ? Jan 25, 2016 01:35

Juul-Whip: Mar 10, 2008

I'm going to Spain this year because I hate money

# ? Jan 25, 2016 01:40

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

THC posted:

I'm going to Spain this year because I hate money

Apart from the flight, it's quite inexpensive and very, very nice. I would like to go back this year myself. Is there anything specific you're looking for? I love talking about vacationing in Spain and I would be happy to give you my recommendations. Honestly, all things considered it was basically cheaper than going to Cuba, largely because you aren't reliant on taxis and good food is comparatively easy and cheap to acquire.

PT6A fucked around with this message at 01:46 on Jan 25, 2016

# ? Jan 25, 2016 01:43

I would blow Dane Cook: Dec 26, 2008

The 11th Annual Demographia International Housing Affordability Survey is out:

http://www.demographia.com/dhi.pdf

# ? Jan 25, 2016 01:44

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# ? May 26, 2024 05:39

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

Jumpingmanjim posted:

The 11th Annual Demographia International Housing Affordability Survey is out:

http://www.demographia.com/dhi.pdf

Yikes. When you're less affordable than NYC and London, you better be a fuckload more attractive than Vancouver.

# ? Jan 25, 2016 01:56

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