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lol Liberal Party candidates are replying that Erin O'Toole can stop this. Pretty sure those aren't CPC voters.
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Sep 3, 2021 19:04
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less than three posted:lol Liberal Party candidates are replying that Erin O'Toole can stop this. I actually think they might've been some of the dipshits that were protesting outside VGH. He can't stop them for sure but Erin O'Toole's platform is against vaccine passports, which is what that protest was about.
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Sep 3, 2021 21:21
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Yeah I just watched it again, I was wrong. The first sign I saw made me think they were protesting the candidate, but yeah looks like they're walking down Broadway to protest at the hospital.
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Sep 4, 2021 05:33
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I looked it up and my current Liberal MP is a landlord. Quelle surprise. also, lol: https://twitter.com/ynd_jnd/status/1433888629475131400?s=20
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Sep 4, 2021 12:20
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https://www.youtube.com/watch?v=vSHju1jMgDY
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Sep 4, 2021 16:16
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Wow if house flipping is gauche now who are they going to come after next? Day traders, hedge fund managers, quants, private wealth managers, slumlords, payday loan sharks???
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Sep 4, 2021 16:34
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Cold on a Cob posted:I looked it up and my current Liberal MP is a landlord. Quelle surprise.
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Sep 4, 2021 16:45
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Hahaha that's amazing
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Sep 4, 2021 17:26
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I was expecting more of a 'some of those that win races / are the same that flip houses" angle with a that title, but it worked out in the end.
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Sep 4, 2021 18:05
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Cold on a Cob posted:I looked it up and my current Liberal MP is a landlord. Quelle surprise. Lmao it just keeps getting worse with this guy
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Sep 4, 2021 19:44
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CBC.ca: Arbitrator rules partially in favour of long-term Kitsilano tenants who alleged they were being 'renovovicted': https://www.cbc.ca/news/canada/british-columbia/vancouver-kitsilano-apartment-renoviction-tenancy-arbitration-1.6161599 They rule that two of the people moving in were not believable because they are too rich to want to live there, so they can't do it. But then the other two are potentially living in cheap enough places that they night want to move in. Then they allowed those latter two evictions to take place while admitting that it is probably in bad faith but that it doesn't matter that is in bad faith. quote:"Even if the landlord has future plans to renovate this residential complex, I find it entirely possible that close family members of the landlord would like to occupy a unit(s) in the property while planning and completing those renovations," the arbitrator wrote. Weeee
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Sep 4, 2021 19:48
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If family can live in the place during the renovations then why can't the tenants 
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Sep 4, 2021 19:53
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Cold on a Cob posted:I looked it up and my current Liberal MP is a landlord. Quelle surprise. I would be amazed that they haven’t withdrawn this idiot yet but he actually represents what the Liberals stand for so I’m sure they will leave him out there, hopefully to lose
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Sep 4, 2021 20:41
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Remember when the Liberal party stood up in unison to denounce Adam Vaughan's comments about housing pieces never going down again? Yeah, me neither. At least he had the decency to slink off into an early retirement along with Bill "Which Conflict of Interest" Morneau. I wonder where Vaughan is going to land?
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Sep 4, 2021 21:11
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eXXon posted:Remember when the Liberal party stood up in unison to denounce Adam Vaughan's comments about housing pieces never going down again? Yeah, me neither. New commercials for the liberals were not very inspiring. Focusing on protecting equity to whatever heights it goes and getting first time homebuyers their down-payment, rather than a reasonable purchase price. Also, something about taxing banks for unfair practices. Nothing to suggest. A proper and much needed correction. Raise the loving rates BoC... Purgatory Glory fucked around with this message at 02:31 on Sep 5, 2021 |
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Sep 5, 2021 02:20
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For the record he’s standing in the same riding that Jody Wilson Raybould just vacated so there’s probably a decent amount of anti Trudeau sentiment there.
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Sep 5, 2021 04:39
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qhat posted:For the record he’s standing in the same riding that Jody Wilson Raybould just vacated so there’s probably a decent amount of anti Trudeau sentiment there. Naw, it's basically the richest, Libbest riding in Vancouver. If it doesn't go Liberal, it will go Conservative. Sir Flips-a-lot almost got as many votes as JWR did in 2019.
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Sep 5, 2021 04:58
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Someone from my friend's family decided to jointly buy a house in Toronto with 4 other people (not even friends or family, just like some kind of bizarre business venture) just to rent it out. Insane.
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Sep 5, 2021 16:43
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Oh that won't end terribly.
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Sep 5, 2021 16:49
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mila kunis posted:Someone from my friend's family decided to jointly buy a house in Toronto with 4 other people (not even friends or family, just like some kind of bizarre business venture) just to rent it out. Insane. So basically a baby REIT but not qualified to be one and the CRA gonna gut 5 idiots next year?
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Sep 5, 2021 17:23
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mila kunis posted:Someone from my friend's family decided to jointly buy a house in Toronto with 4 other people (not even friends or family, just like some kind of bizarre business venture) just to rent it out. Insane. My friend did the same thing in Victoria but to rent out his share on Airbnb lol
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Sep 5, 2021 17:30
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Noblesse Obliged posted:So basically a baby REIT but not qualified to be one and the CRA gonna gut 5 idiots next year? I think something of that size can be passed off for an investor’s club, but I’m not an expert on that.
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Sep 5, 2021 18:22
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Maybe it's a Scottish Limited Partnership? I hear those are pretty useful for laundering.
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Sep 5, 2021 19:08
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Reading all this is sounding more and more like 2008 behaviour in the US. Everyone wants a piece and are acting loving dumb as hell.
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Sep 5, 2021 21:38
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Purgatory Glory posted:Reading all this is sounding more and more like 2008 behaviour in the US. Everyone wants a piece and are acting loving dumb as hell. my "shoeshine boy" moment was when i went to the dentist for a cleaning and the hygienist had her fancy new realtor diploma/certificate/license/whatever on the wall and that was two loving years ago
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Sep 5, 2021 21:45
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mila kunis posted:Someone from my friend's family decided to jointly buy a house in Toronto with 4 other people (not even friends or family, just like some kind of bizarre business venture) just to rent it out. Insane. I was just thinking that I hadn't checked out TorStar's website in a while and idly wondered how long it would take me to find an article that pissed me off, and it was literally just a few seconds before I got to fractional real estate investing: quote:Wingreen Court Apartments is a sprawling complex of residential buildings in North York, complete with 99 units divided into one- and two-bedroom suites. It’s surrounded by reputable schools, popular retail centres and residential developments to accommodate the roughly 330,000 Torontonians living nearby. Like loving clockwork. At least the article answers the question of 'how is this better than any other kind of real estate investment vehicle?' as follows: - it's riskier - ... - profit?
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Sep 6, 2021 17:26
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Look, at least it's now affordable.
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Sep 6, 2021 17:37
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I think it would make sense if you could easily be diversified across the entire region. Real estate is technically only a safe performing asset if you own many properties over a large region. But I mean if that’s what you want, that is literally the entire point of a REIT, and this is obviously not even close to large scale enough to be that. Owning only a single piece of a building is totally pointless unless you plan to live in it, or you’re a sociopath who gets a hard on at controlling other people’s destinies.
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Sep 6, 2021 19:49
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its just another start up grift to get venture capital money
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Sep 6, 2021 19:53
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RBC posted:its just another start up grift to get venture capital money For sure. I was pitched a half dozen blockchain-for-fractional-real-estate ideas during the year I worked as a VC. I assume some of them got funded elsewhere.
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Sep 6, 2021 22:25
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Isn't the point that we are letting these idiots in the pool to begin with. It's one thing to have crypto bounce around as people get scammed. It's another to have people's neighborhoods destroyed while these investors learn the ropes.
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Sep 6, 2021 22:59
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Someone should invent blockchain for stool pictures, at least that way there's no question that you're investing in poo poo
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Sep 7, 2021 01:17
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The future of real estate is NFTs of houses.
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Sep 7, 2021 02:10
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McGavin posted:The future of real estate is NFTs of houses. so what you're telling me is mcmansion hell is a trazillionaire in waiting
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Sep 7, 2021 02:26
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McGavin posted:The future of real estate is NFTs of houses. We're already there. And it looks like garbage. https://www.dezeen.com/2021/03/22/mars-house-krista-kim-nft-news/ Hilariously the person that she contracted to model the house is off of Fiverr or something and is laying claim to ownership.
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Sep 7, 2021 13:39
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I hade to post this here. It’s too good not to.Powershift posted:Housing price increases will continue until affordability improves.
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Sep 9, 2021 20:42
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If you want to watch something that'll make you sick to your stomach, here's Justin Trudeau responding to a question asking what he's going to do about people treating housing as an investment causing skyrocketing price increases by enthusiastically saying that housing is an investment and one he wants you to get into! https://www.facebook.com/JustinPJTrudeau/videos/1224721664675341
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Sep 13, 2021 04:27
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Any chance of this having some kind of knock on effect in canada or global real estate? https://www.ft.com/content/6d127e05-2208-4226-9cd1-ef2f7463cdf0 Evergrande liquidity crisis: why the property developer faces risk of default China’s most indebted real estate company struggles to escape vicious cycle as cash crunch mounts Investors are confronting the growing possibility that Evergrande will default, a debacle that could cascade across global markets and has exposed the perilous state of China’s vast property sector. The world’s most indebted property developer said last week it could fail to make good on its financial obligations, exacerbating a panic among investors, dealing a severe blow to its bonds and triggering trading suspensions in Shenzhen and Shanghai. Fitch on Wednesday became the latest group to issue a warning, slashing Evergrande’s foreign currency credit rating from triple C plus to double C and saying that a default of some kind “appears probable”. This week, Moody’s downgraded the company for the third time in as many months, saying creditors had “weak recovery prospects” in the event of a default. The liquidity crisis has left some of Evergrande’s bonds trading at less than 30 cents on the dollar — a highly distressed level — and highlighted fears over the heavily leveraged real estate sector, which makes up more than 28 per cent of China’s economy. Why could Evergrande default? Evergrande develops real estate projects and then sells the flats to customers who typically pay in advance before completion. It has 778 projects under way in 223 cities. Evergrande payments to suppliers often rely on the issuance of commercial bills, a type of short-term IOU. Last week, the company said its liquidity issues, including delayed payments to suppliers and construction fees, meant projects were being suspended. It is rushing to sell assets to generate cash but some companies have refused to accept Evergrande’s commercial paper. S&P has suggested that the developer might be paying suppliers through transfers of its properties instead of cash. Evergrande is exposed to a vicious cycle in which it does not have enough cash to complete its projects and generate further proceeds from sales, which fell 26 per cent in August from the same time a year earlier despite heavy discounts. The company needs that cash not only to service, but also reduce, its vast debts. New rules imposed by Beijing about a year ago that forced big Chinese developers to reduce their borrowing are one of the main reasons pressure has mounted on Evergrande in the past year. “We do expect a default scenario for Evergrande, unless there is an unexpected positive development for the company such as asset sales,” said Matthew Chow at S&P. Which debts are at risk of default? At the end of June, Evergrande had debts of Rmb572bn ($89bn) including loans from banks and borrowings from bond markets within and beyond China. This was down 20 per cent from Rmb717bn at the end of 2020, following a push to reduce borrowing. But the company’s various other obligations mean its total liabilities are significantly higher at Rmb1.97tn, and have risen since December. When it downgraded Evergrande in August, S&P estimated the company faced Rmb240bn of commercial bills and trade payables in the next 12 months, and Rmb100bn this year. As of the end of June, the developer had Rmb87bn of cash. Of its total of about $14bn in dollar-denominated bonds, none is coming due in 2021. However, Evergrande has $129m of interest payments on those bonds due this month, and $850m due this year, according to Fitch. On Wednesday, REDD Intelligence, a credit intelligence service, reported that Evergrande may suspend payments on a wealth management product it had issued. Separately, REDD reported that Evergrande had told banks it would suspend interest payments to the lenders on September 21. Evergrande did not respond to a request for comment. What would a default mean for bond markets? Evergrande counts big international companies among its investors, including Allianz, Ashmore and BlackRock. A default is likely to have spillover effects on global markets, where many investors have historically anticipated Chinese government support at times of distress. Evergrande is trying to resolve its woes by selling assets. But Iris Chen, an analyst at Japanese investment bank Nomura, argued in late August that such disposals would “actually hurt” offshore bondholders because “the proceeds will likely be used to repay onshore maturities” such as construction costs and trust loans. Another prospect is a broader impact on other developers, which also rely heavily on debt markets and are subject to Beijing’s deleveraging campaign. Guangzhou R&F was downgraded by Moody’s on Friday over concerns it would have a tougher time issuing debt to settle old obligations, a process known as refinancing. Guangzhou R&F has upcoming debt payments that exceed its cash, according to Moody’s, so if it cannot refinance, it risks defaulting. The group’s bonds have sold off this week. Borrowing costs are rising, with yields on Chinese speculative-rated bonds soaring to about 13 per cent late last month, compared with less than 10 per cent in June, according to an Ice Data Services index. Analysts at Citi last week noted that August sales were 19 per cent lower year on year across 31 listed companies in the property sector. The bank added: “Concern on contagion impact from Evergrande led to some difficulty in bond issuance onshore (due to demand) and offshore (due to cost).” What would it mean within China? Even if the central government opts to let Evergrande default rather than bail it out directly — a move which would align with perceptions of a shift towards a more market-orientated approach — authorities are likely to be involved in co-ordinating the continuation of projects at a group that employs 163,000 people. Property developers in China typically also have large borrowings from the country’s biggest state-run banks. The default in February of China Fortune Land Development, a company specialising in industrial parks, led to the establishment of a creditor committee. A Redd report in August said the Guangdong government was gathering feedback from banks over a potential creditor committee for Evergrande, while the group said in its interim results last week that it was talking to the government regarding suspended projects. Beyond markets, the most important issue for Beijing would be any impact on the broader property sector, which has been a central engine of China’s booming economy for decades — but which has come under strain from tightened credit conditions.
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Sep 13, 2021 05:34
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It’s definitely possible. I feel like big corporate bonds collapsing is going to be really bad for confidence in that sector, other companies may not be able to borrow at favourable rates if at all. Depending on how exposed people are exposed to those bonds, I reckon it could get sour really quickly, but I don’t actually know for sure. I just think bonds of these biggest companies going bad seems really scary.
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Sep 13, 2021 06:50
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Femtosecond posted:If you want to watch something that'll make you sick to your stomach, here's Justin Trudeau responding to a question asking what he's going to do about people treating housing as an investment causing skyrocketing price increases by enthusiastically saying that housing is an investment and one he wants you to get into! I believe he was probably trying to spin it as "an investment in your future!" kind of thing, but in any case, definitely sidestepping the actual question that he didn't want to answer.
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Sep 13, 2021 13:21
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