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Mar 20, 2016 17:24
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Haha gently caress
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Mar 20, 2016 17:27
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I guess it really is Different This Time. Was the US housing bubble ever held up by one city?
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Mar 20, 2016 17:29
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quaint bucket posted:
Here's a graph from that I found interesting:  Anybody want to take a guess as to why home and mortgage insurance premiums are being raised dramatically???
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Mar 20, 2016 17:34
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Now it's Vancouver's turn to be popular 
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Mar 20, 2016 17:35
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I'm really, really tempted to contact that person who asked me my opinion on moving to Vancouver then got upset and stopped talking to me after I cautioned them about living expenses and then moved there without investigating anything
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Mar 20, 2016 17:39
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peter banana posted:I guess it really is Different This Time. Was the US housing bubble ever held up by one city? Not one, but several. It happens every time, people think the local housing market is different from the national market. They're not. It's an interconnected market with sticky prices that takes time to adjust. Canada is much smaller and has a much less diversified economy. Back in 2005, there were dozens of articles in the u.s. about how certain cities were "safe havens" and others where the bubble was "popping". Alan Greenspan came out and said there was no bubble, but a bunch of "local bubbles" . I remember the same bs about a "soft landing" as well. There has never been a soft landing to an economic bubble in the history of the world.
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Mar 20, 2016 17:51
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RBC posted:There has never been a soft landing to an economic bubble in the history of the world. Tobias Funke posted:No, it never does. I mean, these people somehow delude themselves into thinking it might, but ... But it might work for us. 
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Mar 20, 2016 17:59
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peter banana posted:Strong policy by the central bank could diffuse the situation without catastrophe. No not really, there's no proven way to deflate a bubble. It would probably turn out like greece, you can't print your way out of a bubble economy it doesn't work like that, sorry.
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Mar 20, 2016 18:33
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PK loving SUBBAN posted:Yeah but did the real estate sector make up as large a part of those nation's economies for as long as it has in Canada? I don't believe I know an example where it did. That's why I expect to see some spectacular bailouts of John Q. Homeowner to protect our sacred equity. This is exactly what china tried to do with their stock market, problem is you can't bubble your way out of a bubble. What you are saying fails on a very basic level to make any lick of sense. At the end of the day housing prices are tethered to people's incomes. For short periods borrowing can loosen this tether but at the end of the day financial gravity is going to take hold and everything comes crashing back down to earth. RBC posted:Not one, but several. It happens every time, people think the local housing market is different from the national market. They're not. It's an interconnected market with sticky prices that takes time to adjust. Canada is much smaller and has a much less diversified economy. ehhh I get what you are saying but there were huge differences between say detached houses around major cities vs condos in lovely cities like miami. There were some cities around chicago, for example, that never even dipped during the bubble bursting (or regained lost value in months to a year) for a variety of reasons. Mainly that those areas never got of wack wrt income vs. house prices. TROIKA CURES GREEK fucked around with this message at 18:44 on Mar 20, 2016 |
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Mar 20, 2016 18:37
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Interesting rant about Vancouver housing: https://www.reddit.com/r/PersonalFinanceCanada/comments/4b5wuy/vancouver_housing_30_yo_dinks_is_it_time_to_leave/
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Mar 20, 2016 19:33
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Lexicon posted:Interesting rant about Vancouver housing: https://www.reddit.com/r/PersonalFinanceCanada/comments/4b5wuy/vancouver_housing_30_yo_dinks_is_it_time_to_leave/ At any other time this would be a typical complaint of a young person on the receiving end of urban sprawl inducing, NIMBY, anti-development policies designed to protect established landowners. What's remarkable now is that with the extreme level of speculation and foreign capital present in the market, the prices are so inflated that the persons affected aren't the working class, but rather the top 10%.
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Mar 20, 2016 21:22
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Femtosecond posted:At any other time this would be a typical complaint of a young person on the receiving end of urban sprawl inducing, NIMBY, anti-development policies designed to protect established landowners. Well the working class are affected too (obviously), as not only are they locked out of SFH along with the top 10% of earners in the city, they are paying way more (or locked out of depending on how working class they are) for townhouses and condos in the suburbs as well. This is definitely why the cries of "those entitled millenials" will never stop being funny. You cannot afford a house in Vancouver even if you're a doctor.
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Mar 20, 2016 21:34
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tbf, they're whining about only wanting a freehold house so yeah, I'm perfectly happy to label them as entitled millenials.
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Mar 20, 2016 21:42
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ocrumsprug posted:Well the working class are affected too (obviously), as not only are they locked out of SFH along with the top 10% of earners in the city, they are paying way more (or locked out of depending on how working class they are) for townhouses and condos in the suburbs as well. Right absolutely. I should have inserted that "just" into "...aren't the working class..." Similarly to how the working class are being increasingly ignored, something I find troubling is that as the affordable housing issue in Vancouver has grown to encompass nearly all class tiers of society, the amount of public policy discussion involving housing for low income and marginalized groups in the Downtown Eastside has nearly entirely vanished. When Vision was first elected and housing in Vancouver was merely ordinarily expensive, issues affecting the homeless and the DTES was at the top of the agenda, and Vision made it their goal to eliminate homelessness in Vancouver. These issues haven't gone away, and if anything have seemingly gotten worse in the last few years, but at this point they're incredibly low on the todo list, receiving little political attention and fewer newspaper column inches.
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Mar 20, 2016 21:44
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shrike82 posted:tbf, they're whining about only wanting a freehold house so yeah, I'm perfectly happy to label them as entitled millenials.  Good poo poo man.
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Mar 20, 2016 21:45
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oh and top 20% HHI for Vancouver is 240K so they're not even that rich
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Mar 20, 2016 21:46
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shrike82 posted:oh and top 20% HHI for Vancouver is 240K so they're not even that rich I find that tremendously hard to believe -- do you have a source? The 99th percentile for individual earners in Canada is only 190k or so (95th percentile: 115k, 90th percentile: 89k), and the median household income for Vancouver is below the national median. If I had to guess, I'd suspect that the 80th percentile is more like 120k.
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Mar 20, 2016 21:53
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shrike82 posted:oh and top 20% HHI for Vancouver is 240K so they're not even that rich Do you know where I can find this data for Toronto. I want to find out if I'm in the top 20. 
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Mar 20, 2016 21:53
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shrike82 posted:oh and top 20% HHI for Vancouver is 240K so they're not even that rich lmao that's some bullhsit son
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Mar 20, 2016 22:02
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Just say "I have heard the name Vancouver, but just assumed it was some Google subsidiary because the name is goofy." It would have been more believable.
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Mar 20, 2016 22:04
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http://www.macleans.ca/economy/money-economy/are-you-in-the-middle-class/
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Mar 20, 2016 22:07
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you do the loving math shitlord http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/famil107a-eng.htm e: holy loving poo poo i stand correctecd e2: lol namaste friends fucked around with this message at 22:12 on Mar 20, 2016 |
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Mar 20, 2016 22:08
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yeah i was looking at that but they did averages of quintiles so my bad
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Mar 20, 2016 22:09
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shrike82 posted:yeah i was looking at that but they did averages of quintiles so my bad Yeah, not really your fault for not noticing but whoever did that infographic should be fired.
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Mar 20, 2016 22:10
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ocrumsprug posted:Well the working class are affected too (obviously), as not only are they locked out of SFH along with the top 10% of earners in the city, they are paying way more (or locked out of depending on how working class they are) for townhouses and condos in the suburbs as well. Not only a house, but a halfway decently appointed and located townhouse is pushing 1.2, and that's before you include the bidding war.
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Mar 20, 2016 22:56
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I'm a bit behind on the thread and just read the Macleans article on car loans. Holy gently caress. I can't get over how stupid people are. Last year I traded in my three year old car on a six year, zero percent loan for a new car, under the same terms. I felt really loving bad about this, but I had them close out my existing loan on the trade in, and still pulled the new car for 2K under list including an extended warranty. Honestly. Who the gently caress walks into a dealership and goes "Hrmm. So I'll carry $9,000 from my existing loan forward, and pay an additional 2% APR on an 8 year term. Where do I sign?" I think we should euthanize these people.
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Mar 20, 2016 23:40
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shrike82 posted:lol Watson for Mayor4life
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Mar 20, 2016 23:44
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sbaldrick posted:Watson for Mayor4life What's with the idiots talking about smoking as an constitutional right?
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Mar 21, 2016 04:18
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quaint bucket posted:What's with the idiots talking about smoking as an constitutional right? Vaping isn't really very bad at all for bystanders but it suffers from 20 years of anti-cigarette second hand smoke stigma. quote:There is a limited body of published research on the health effects of ‘second hand’ exposure to e-cigarette vapor. McAuley et al. (2012) assessed indoor air concentrations of common tobacco smoke by-products (VOCs, carbonyls, PAHs, nicotine, TSNAs, and glycols) emitted by generic e-cigarettes using four different high nicotine e-cigarette liquids (‘e-liquids’), and compared the results with those from analysis of tobacco cigarette smoke tests; they then undertook risk analyses based on dilution into a 40 m3 room and standard toxicological data. This assessment revealed no significant risk of harm to human health from e-cigarette emissions. In contrast, the tobacco smoke analyses mostly exceeded risk limits (McAuley et al., 2012). Flouris et al. (2013) exposed healthy volunteers to ‘second hand’ e-cigarette vapor for one hour and found small increases in serum cotinine but no significant changes in lung function. No studies have been conducted on the impact of longer second-hand exposures, exposures in children or third-hand exposures. It makes sense to ban it in enclosed areas. I don't want to breath nicotine, even if it's below any measurably unhealthy level, because some douchebag just couldn't wait for the O-Train to drop him off at Carleton for his film studies class. Banning it in parks and all outdoor city properties seems silly though. As a policy, you'd think we'd want to get people off cigarettes. Make it easy for them to vape in parks and outdoor areas but not smoke, wait a few years for cig smokers to all switch over and THEN ban it everywhere.
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Mar 21, 2016 04:41
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I hope everyone's e-cig blows up in their faces. I honestly prefer people smoking true cancer sticks as I've been desensitized to that smell over a lifetime of not being a babby.. Also because smokers generally have enough shame about their habit to not be complete dicks about it. I don't wanna inhale fruitloops while Fedora McGee glares at everyone around him, waiting for someone to say something so he can enlighten some sheeple. They definitely should be 100% banned while driving. Wonder how many pedestrians and cyclists have been taken out during the 14 seconds it takes the plume of poo poo to exit the vehicle? Edit: someone needs to make a line of ecigs to attract all the worst of em.. Maybe hops flavoured or something. Once they catch on, they can switch over to unlabelled batteries and let the carnage begin. Math You fucked around with this message at 05:09 on Mar 21, 2016 |
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Mar 21, 2016 04:56
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Ikantski posted:It makes sense to ban it in enclosed areas. I don't want to breath nicotine, even if it's below any measurably unhealthy level, because some douchebag just couldn't wait for the O-Train to drop him off at Carleton for his film studies class. Banning it in parks and all outdoor city properties seems silly though. As a policy, you'd think we'd want to get people off cigarettes. Make it easy for them to vape in parks and outdoor areas but not smoke, wait a few years for cig smokers to all switch over and THEN ban it everywhere. Nah, because smoking is already dying off everywhere so this is to prevent a meaningful lobby from forming for ecigs (because you know people are already trying to get teenagers hooked on them).
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Mar 21, 2016 05:03
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Will the banning of cigarettes and e-cigs raise or lower property values though? Think of the poor home owners! 
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Mar 21, 2016 05:29
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peter banana posted:I guess it really is Different This Time. Was the US housing bubble ever held up by one city? No not really, even through certain states like Florida or Nevada got hosed over by the crash worse.
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Mar 21, 2016 05:47
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computer parts posted:Nah, because smoking is already dying off everywhere so this is to prevent a meaningful lobby from forming for ecigs (because you know people are already trying to get teenagers hooked on them).
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Mar 21, 2016 05:52
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Ikantski posted:Vaping isn't really very bad at all for bystanders but it suffers from 20 years of anti-cigarette second hand smoke stigma. Vaping should really be banned in any enclosed space, if only based on the poo poo we went through with second hand smoke. eCigs are so new that we really have no idea what sort of long term risks there might be, and we should be in no rush to expose people to that if we don't have to. Math You posted:They definitely should be 100% banned while driving. Wonder how many pedestrians and cyclists have been taken out during the 14 seconds it takes the plume of poo poo to exit the vehicle? I have no damned idea how smoking and driving isn't covered under distracted driving laws at the very least.
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Mar 21, 2016 06:37
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Yes, it's like a lava lamp.
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THC posted:Teenagers actually loving love cigarettes lately, pretty sure I read that underage smoking is on the rise It's on the rise for women but female smoking rates worldwide are vastly below male rates.
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Mar 21, 2016 06:49
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RBC posted:Not one, but several. It happens every time, people think the local housing market is different from the national market. They're not. It's an interconnected market with sticky prices that takes time to adjust. Canada is much smaller and has a much less diversified economy. There's a safe landing in my plan (as safe as you can call emigrating)!
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Mar 21, 2016 10:03
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computer parts posted:Nah, because smoking is already dying off everywhere so this is to prevent a meaningful lobby from forming for ecigs (because you know people are already trying to get teenagers hooked on them). Interesting. I suppose he's against legalizing marijuana for the same reason, someone should remind him it's 2015.
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Mar 21, 2016 13:40
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| # ? May 9, 2024 23:40 |
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https://twitter.com/Lidsville/status/711615252132077568/photo/1 building more market-rate housing will be fine!
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Mar 21, 2016 16:06
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