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.

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cowofwar: Jul 30, 2002; by Athanatos

Spending $1m on a cottage is way more insane than spending $2m on a house in Vancouver.

# ? Jul 3, 2016 01:35

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# ? May 28, 2024 12:04

Furnaceface: Oct 21, 2004

cowofwar posted:

Spending $1m on a cottage is way more insane than spending $2m on a house in Vancouver.

Its the price you pay for the privilege of living with ~*nature*~

<drives to cottage to sit down on laptop inside all weekend and demand hydro, sewage, paved roads, police, fire, cable, internet all be available at all times>

# ? Jul 3, 2016 01:57

Boot and Rally: Apr 21, 2006; 8===D; Nap Ghost

namaste faggots posted:

http://business.financialpost.com/p...-in-the-process

i can't be bothered to read the rest of this fuckin nonsense. yes it's nonsense because motherfucker, you staring at 1.5 million in the face and acting like it's not the most loving money you'll ever seen in one pile that you never had to loving work for

you loving white people

Are they attempting to draw a response other than "get hosed"?

# ? Jul 3, 2016 02:00

mojo1701a: Oct 9, 2008; Oh, yeah. Loud and clear. Emphasis on LOUD!
~ David Lee Roth

Furnaceface posted:

Its the price you pay for the privilege of living with ~*nature*~

<drives to cottage to sit down on laptop inside all weekend and demand hydro, sewage, paved roads, police, fire, cable, internet all be available at all times>

Most of the (admittedly few) cottages I've been to are basically mini-mansions whose design motifs are little more than "wood + glass near a lake."

# ? Jul 3, 2016 02:36

Lain Iwakura: Aug 5, 2004; The body exists only to verify one's own existence.; Taco Defender

Furnaceface posted:

Its the price you pay for the privilege of living with ~*nature*~

<drives to cottage to sit down on laptop inside all weekend and demand hydro, sewage, paved roads, police, fire, cable, internet all be available at all times>

Don't be ragging on Bryan Baeumler here.

# ? Jul 3, 2016 04:32

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

Subjunctive posted:

loving shoot me.

You gonna chirp? Keep your stick on the ice or drop gloves, pigeon.

# ? Jul 3, 2016 05:39

HookShot: Dec 26, 2005

Two weekends in a row it's been impossible to find parking in Whistler.

Go back to your dumpy city, city folk.

# ? Jul 3, 2016 06:43

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

http://dailyhive.com/vancouver/main-street-vancouver-named-coolest-street

what's it like living on one of north america's coolest streets ci?

# ? Jul 3, 2016 07:14

namaste friends: Sep 18, 2004; by Smythe

Bitch you live across the street from me. You tell me.

There's at least 5 canpol goons in 5 block radius from main and Broadway

gently caress all y'all

# ? Jul 3, 2016 07:30

Furnaceface: Oct 21, 2004

the talent deficit posted:

http://dailyhive.com/vancouver/main-street-vancouver-named-coolest-street

what's it like living on one of north america's coolest streets ci?

So all this frothing CI rage is mostly just self loathing being projected at everyone else?

Well thats a bit of a letdown.

# ? Jul 3, 2016 14:19

cowofwar: Jul 30, 2002; by Athanatos

HookShot posted:

Two weekends in a row it's been impossible to find parking in Whistler.

Go back to your dumpy city, city folk.

Why do you need a car in whistler?

# ? Jul 3, 2016 15:45

HookShot: Dec 26, 2005

cowofwar posted:

Why do you need a car in whistler?

Outside of the village it's actually fairly sprawly, with not-great bus service. Living in Whistler without having a car is pretty poo poo.

Plus while I only live a 20 minute walk from the village my old dog can't make it there and back if we want to do anything there (like visit the farmer's market, or Lost Lake) so we need to drive in.

# ? Jul 3, 2016 15:57

namaste friends: Sep 18, 2004; by Smythe

Exterminate your dog, stop using your car

What could be more environmentally sustainable

you loving white people

# ? Jul 3, 2016 16:00

Throatwarbler: Nov 17, 2008; by vyelkin

namaste faggots posted:

Bitch you live across the street from me. You tell me.

There's at least 5 canpol goons in 5 block radius from main and Broadway

gently caress all y'all

Everyone wants to live here

# ? Jul 3, 2016 16:32

namaste friends: Sep 18, 2004; by Smythe

https://www.sfu.ca/sfunews/stories/2016/foreign-investment-affects-vancouver-real-estate.html

quote:

The latest report from the Real Estate Board of Canada indicates the benchmark price for a detached home in Metro Vancouver is now more than $1.4 million. The average detached home sale price peaked in January 2016 at more than $1.8 million.

Many experts and locals have attributed this upswing in housing prices to a sharp increase in foreign investment. A forthcoming study led by SFU’s Andrey Pavlov, a Beedie School of Businessprofessor who specializes in real estate finance, found—for the first time—concrete empirical evidence of this effect.

In joint work with UBC business professor Tsur Somerville, Pavlov analyzed local housing prices in Vancouver before and after the federal government suspended the Canadian Immigrant Investor Program.

“Following the program’s suspension, we found home prices in neighborhoods and market segments favored by foreign investors declined substantially relative to the overall market,” Pavlov says.

“This allowed us to conclude immigration does have a measurable impact on real estate prices.”

However, Pavlov is careful to note that while foreign ownership has contributed to the recent run-up, it cannot fully explain it. He says there are other factors at play.

“Record low interest rates, tax rules that strongly favour real estate over pretty much any other investment, highly insufficient transportation infrastructure in Vancouver, a cumbersome and unreasonable permitting process in Vancouver, and the Canada Mortgage and Housing Corporation’s bulk insurance for mortgage portfolios of banks, which removes most of the incentives for lenders to monitor risk.”

The Canadian Immigrant Investor Program, which was in place between 1986 and 2014 (suspended in 2012), marked a period that saw large amounts of foreign financial capital transferred into Canada. Pavlov says the effects of the capital brought by these immigrants should be similar to those resulting from the foreign direct investment in residential real estate currently.

# ? Jul 3, 2016 17:36

quaint bucket: Nov 29, 2007

Hypothetical question, could the federal gov't say "ok we're raising the maximum year of mortgages back to 30/35/40 w/e in response to the increasing interest rates to protect home value and make it affordable for first time home owners"

Keep the real estate gravy train rolling

# ? Jul 3, 2016 21:29

namaste friends: Sep 18, 2004; by Smythe

Sure. Flaherty did it in 2009 and was lauded best finance minister ever for it.

# ? Jul 3, 2016 21:37

ocrumsprug: Sep 23, 2010; by LITERALLY AN ADMIN

As you can tell, homes have never been so affordable for first time buyers.

# ? Jul 3, 2016 21:40

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

quaint bucket posted:

Hypothetical question, could the federal gov't say "ok we're raising the maximum year of mortgages back to 30/35/40 w/e in response to the increasing interest rates to protect home value and make it affordable for first time home owners"

Keep the real estate gravy train rolling

I think this is not only plausible, but likely.

# ? Jul 3, 2016 23:44

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

Too bad mortgages in Canada don't have to be renewed every 5 years, otherwise the second they introduced 60 year mortgages I'd buy a big rear end fuckin house with mortgage payments that are a third of the rental cost and just hope on the gradual depreciation of the dollar due to deflation gradually takes my housing costs lower every year.

# ? Jul 4, 2016 01:09

tagesschau: Sep 1, 2006; D&D: HASBARA SQUAD
THE SPEECH SUPPRESSOR

Remember: it's "antisemitic" to protest genocide as long as the targets are brown.

EvilJoven posted:

I'd buy a big rear end fuckin house with mortgage payments that are a third of the rental cost

Where the hell do you live that this is even theoretically possible? Rental cost is about a third of the ownership cost here.

# ? Jul 4, 2016 01:16

Juul-Whip: Mar 10, 2008

Winnipeg.

# ? Jul 4, 2016 01:24

yippee cahier: Mar 28, 2005

tagesschau posted:

Where the hell do you live that this is even theoretically possible? Rental cost is about a third of the ownership cost here.

270 year mortgages, then.

# ? Jul 4, 2016 05:28

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

35 year mortgages never went away at my credit union. I was surprised. That's why I'm paying $700 per month.

# ? Jul 4, 2016 05:39

quaint bucket: Nov 29, 2007

UnfortunateSexFart posted:

35 year mortgages never went away at my credit union. I was surprised. That's why I'm paying $700 per month.

I was talking about people who do less than 20%.

# ? Jul 4, 2016 05:42

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

quaint bucket posted:

I was talking about people who do less than 20%.

We did $30k down on $230k.

# ? Jul 4, 2016 05:54

Femtosecond: Aug 2, 2003

Hubbert posted:

Makes a little sense, considering that the ALC recently received a ton of funding to 1) hire more staff, and 2) enforce a new application turnaround time of 60 days or less.

Hey conspiracy theories don't need to make sense!

Let's ramp this one up further. Clearly the Burns Bog fire was started to clear land for condo development.

quote:

Fire crews work feverishly to battle wildfire in Delta's Burns Bog

Delta and provincial fire crews worked feverishly throughout Sunday to control a wildfire that broke out at Burns Bog in Delta.

The fire, first spotted at 11:30 a.m. and fuelled by high winds, has grown to between 55 and 70 hectares, jumping a highway and forcing the evacuation of an industrial area to the west of the bog.

A massive plume of smoke from the fire could be seen from many Metro Vancouver municipalities, and some residents of nearby communities such as Surrey and Langley reported ash falling from the sky and the acrid smell of smoke.

By early this morning, heavy smoke had drifted into downtown Vancouver, causing a strong, acrid smell to fill the air.

Metro Vancouver has not issued an air quality advisory, despite the potent smell.

Up to 100 firefighters fought the blaze, with five helicopters, air tankers and water skimmers from the B.C. Wildfire Service sent in to help local crews.

Delta Fire Chief Dan Copeland said fire crews hoped to establish a perimeter on the ground by Sunday evening, allowing them to battle the blaze from the ground on Monday morning.

�We�re putting up a guard. We think we are staying on top of it,� said Copeland, adding a night watch was being set up to monitor the fire overnight, with crews expected to be back at first light Monday.

The cause of the fire, which started in the northern section of Burns Bog, just west of 80th Street, is yet to be determined, said Copeland. Donna MacPherson, spokeswoman for the B.C. Wildfire Service, said the fire was not caused by lightning.
...

# ? Jul 4, 2016 15:51

Pixelboy: Sep 13, 2005; Now, I know what you're thinking...

Femtosecond posted:

Hey conspiracy theories don't need to make sense!

Let's ramp this one up further. Clearly the Burns Bog fire was started to clear land for condo development.

or, you know, some homeless person's cooking fire / camp. happens all the time in Stanley Park.

# ? Jul 4, 2016 19:18

Guest2553: Aug 3, 2012

Pixelboy posted:

or, you know, some homeless person's cooking fire / camp. happens all the time in Stanley Park.

You can't believe everything you read on realtor.ca :colbert:

# ? Jul 4, 2016 20:07

Lain Iwakura: Aug 5, 2004; The body exists only to verify one's own existence.; Taco Defender

Femtosecond posted:

Hey conspiracy theories don't need to make sense!

Let's ramp this one up further. Clearly the Burns Bog fire was started to clear land for condo development.

I was wondeirng how long it would be before some smoker would do what they all do and flick their butts out the window.

# ? Jul 4, 2016 20:17

sbaldrick: Jul 19, 2006; Driven by Hate

Professor Shark posted:

I'd like to hear a more detailed story about this

I know this is old but I was busy.

Shoppers is notorious for its "we'll pay for your school contracts" with massive penalties if you attempt to leave or buy them out early. Like 250k plus penalties bad.

# ? Jul 5, 2016 00:51

namaste friends: Sep 18, 2004; by Smythe

http://www.macleans.ca/economy/economicanalysis/business-investment-hasnt-been-this-crummy-in-40-years/

quote:

Business investment hasn�t been this crummy in 40 years
Canadian companies remain nervous about the future, meaning the decline in business investment is unlikely to improve any time soon.

When the Bank of Canada released its latest survey of business managers on Monday, it confirmed what we�ve known for some time now: companies in Canada are a panicked bunch. The Business Outlook Survey, conducted each quarter, found that business leaders view the next year with apprehension, particularly those with ties to the energy sector.

�Modest domestic demand, uncertainty and insufficient foreign demand are key factors holding back investment intentions,� the Bank observed, while noting the cautious outlook wasn�t limited to the oil patch. �While firms judge that the boost to their sales from U.S. growth is lending support to their investment plans, investment intentions are modest for exporters, even those unaffected by commodity prices.

This chart from the Bank�s survey shows how weak the outlook for the next year is. It measures the percentage of companies that plan to increase their investment spending minus the percentage of companies that expect to pull back on spending.

This latest update on investment intentions doesn�t bode well for Canada�s economy. Business investment, which is crucial to supporting growth, has been in retreat for the last five quarters, and before that was stuck in neutral going back to 2012.

Here�s some context for how bad things are right now. The following chart compares business fixed capital investment�money that�s put into things such as plants and machinery�in the wake of the last three recessions (not including the two-quarter downturn that occurred in 2015, since the C.D. Howe Institute�s Business Cycle Council has not acknowledged that as an official recession). As the chart shows, this is the weakest business investment recovery since at least the early 1980s, which is as far back as Statistics Canada keeps comparable public data.

What sets this post-2008 cycle apart from the previous two is how robust the initial rebound was. For that, Canada could thank the sharp resurgence in oil prices that followed the 2008 crash as well as the boom in residential home construction. But that early surge fizzled out, and real (inflation-adjusted) business investment now back to where it was prior to the recession.

It would be easy to pin the blame for the slump squarely on the oil patch, which has scaled back plans for big oil sands projects following the oil price crash that started in mid-2014. But this is also a story of non-energy companies refusing to put their money to work. In a recent briefing report the Conference Board of Canada found that many non-energy industries�particularly manufacturing sectors like the transportation equipment, wood products, food, primary metal and paper industries�are already bumping up against capacity limits. Yet businesses in those sectors have been reluctant to invest and create more room to expand. As the Conference Board said in a statement: �The continued lack of investment has the potential to severely limit Canada�s future growth.�
Canada is hardly alone in this struggle. The recovery in business fixed-capital investment in the U.S. after the Great Recession is also seriously lagging earlier post-recession periods. When the U.S. Federal Reserve chose to hold rates in June, it specifically called out weak business investment in that country by way of explanation.

Yet there is no simple explanation for why this is happening. It�s not as if it�s expensive to borrow and invest, what with interest rates in both countries near all-time lows. And as has been pointed out, the oil crash hammered energy companies, but cheap oil and the low dollar (in Canada at least) should have spurred non-energy exporters to take advantage of those ideal conditions.

Ultimately, it comes down to confidence�or the lack thereof. Business don�t have faith that investments they make in new capacity today will provide enough of a return to justify the risks. They simply don�t believe domestic or international economies are on the mend, and the shock delivered by Britain�s decision to exit the European Union may only deepen their uncertainty. It could be some time before they get their nerve back.

Get hosed Canada :smug:

# ? Jul 5, 2016 17:30

Rime: Nov 2, 2011; by Games Forum

Companies are neither lacking in confidence about the future nor particularly nervous, they've simply realized that they can milk fuckin' cash money out of the economy while reinvesting zilch into their operations. Extraction extraction extraction, funnel it all into shareholder pockets and move on.

# ? Jul 5, 2016 18:16

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

Rime posted:

Companies are neither lacking in confidence about the future nor particularly nervous, they've simply realized that they can milk fuckin' cash money out of the economy while reinvesting zilch into their operations. Extraction extraction extraction, funnel it all into shareholder pockets and move on.

Are dividends up?

# ? Jul 5, 2016 18:19