|
Does anyone know anything on this site? I've had it pop up in my Google News feed pretty regularly. This article has me wondering how large an impact pre-approvals are having. https://betterdwelling.com/canadian-real-estate-fueled-by-pre-approvals-enormous-shock-coming-bmo/
|
#
?
Sep 19, 2022 23:16
|
|
|
|
| # ? May 11, 2024 05:32 |
|
|
Better Dwelling is co-founded by Stephen Punwasi who is crypto nutjob and a massive housing bear, but obsessively to the point of being delusional. I probably wouldn't trust most of the stuff being published there.
|
|
#
?
Sep 19, 2022 23:32
|
|
|
lol, yeah they pop up for me all the time too.
|
|
#
?
Sep 19, 2022 23:35
|
|
|
Every article I've seen from there is wildly inaccurate sensationalist crap ripped straight from housing bear twitter. They don't just assert the housing market is going to collapse, they assert that it's going to collapse like Next Month, and they've been doing this for years now so it's super hard to take seriously.
|
|
#
?
Sep 19, 2022 23:42
|
|
|
Misread this as "Mei and Hammond" and thought it was an Overwatch 2 tie-in.
|
|
#
?
Sep 20, 2022 03:10
|
|
|
qhat posted:Every article I've seen from there is wildly inaccurate sensationalist crap ripped straight from housing bear twitter. They don't just assert the housing market is going to collapse, they assert that it's going to collapse like Next Month, and they've been doing this for years now so it's super hard to take seriously. Canadian housing has been obviously overvalued for years now (just check the age of this thread), too. The fact that stupidly easy credit is finally drying up for the first time in a decade and a half seems to be forcing prices back into a reality where buyers' income and assets actually matter.
|
|
#
?
Sep 20, 2022 04:27
|
|
|
The Star also had a somehow boring clickbait article about a couple who bought a home without an inspection and then discovered that it had problems, most of which they've fixed after spending $25k (that they didn't budget for and had trouble affording). I don't know what the point of it was, although I suppose I was suckered into clicking it so mission accomplished. I was just hoping the buyers would get soaked for more because $25k doesn't really sound like much for a nightmare reno.
|
|
#
?
Sep 20, 2022 04:48
|
|
|
tagesschau posted:Canadian housing has been obviously overvalued for years now (just check the age of this thread), too. The fact that stupidly easy credit is finally drying up for the first time in a decade and a half seems to be forcing prices back into a reality where buyers' income and assets actually matter. This is true. But it also doesn’t make Stephen Punwasi less of a moron.
|
|
#
?
Sep 20, 2022 07:19
|
|
|
Xaranthius posted:Does anyone know anything on this site? I've had it pop up in my Google News feed pretty regularly. This article has me wondering how large an impact pre-approvals are having. On canadahousing subreddit which is pretty bearish, all better dwelling articles get a top voted comment on the source being untrustworthy. They feel good to read but they are skewed.
|
|
#
?
Sep 20, 2022 07:45
|
|
|
I read them because they usually have links to banks talking about forecasts.
|
|
#
?
Sep 20, 2022 08:07
|
|
|
Our household incomes are similar but our mortgage is $1950 and fixed. These goddamn morons.
|
|
#
?
Sep 20, 2022 13:36
|
|
|
qhat posted:Better Dwelling is co-founded by Stephen Punwasi who is crypto nutjob and a massive housing bear, but obsessively to the point of being delusional. I probably wouldn't trust most of the stuff being published there. He's quieted his crypto bullshit since he's pivoted to running for Toronto mayor (and probably seeing the backlash PP got for his stupid poo poo). He's an interesting person for sure. Some of his housing takes are in fact, good though. He's not quite Steve Saretsky bad - I'll give him that.
|
|
#
?
Sep 20, 2022 15:09
|
|
|
Ontario's 23-year-old 'Crypto King' goes bankrupt, loses $35 million of investor's money.
|
|
#
?
Sep 20, 2022 16:14
|
|
|
McGavin posted:Ontario's 23-year-old 'Crypto King' goes bankrupt, loses $35 million of investor's money. quote:some of those investors borrowed their investment funds from a line of credit.
|
|
#
?
Sep 20, 2022 16:43
|
|
|
Even better lolquote:The terms of Moore's investment included a 70-30 split on any capital gains (with 70 per cent for her and 30 per cent for Pleterski), a commitment the initial investment would be paid back in full if it was lost, and target capital gains of 10 to 20 per cent biweekly, according to her investment contract. Entirely deserved imo.
|
|
#
?
Sep 20, 2022 18:17
|
|
|
Slotducks posted:He's not quite Steve Saretsky bad - I'll give him that. No, he’s much worse. He’s an anti Ukraine turd and is pretty vocal about it too, all the typical Russian neo-nazi propaganda talking points etc. I’m telling you all these Twitter housing bears have absolutely awful opinions about one thing or another, whether it’s Chinese people, trans, Ukrainians, etc. Sometimes they sound reasonable and you check their likes on Twitter and yep there they are liking one of JK Rowling’s posts or talking poo poo on vaccines, or whatever. qhat fucked around with this message at 18:29 on Sep 20, 2022 |
|
#
?
Sep 20, 2022 18:25
|
|
|
I mean, yeah it was a bunch of people hoping to get rich quick but it also speaks to the lack of financial literacy for many people.
|
|
#
?
Sep 20, 2022 18:58
|
|
|
Slotducks posted:He's quieted his crypto bullshit since he's pivoted to running for Toronto mayor (and probably seeing the backlash PP got for his stupid poo poo). He's an interesting person for sure. Some of his housing takes are in fact, good though. I'm kind of amazed that given his crazy housing bear persona on twitter, his housing platform is extremely mild, handwavy vague, and pretty much repeating various fiddling around the edges type ideas that have already been suggested before. https://stephenpunwasi.com/campaign/platform/housing/ His platform pretty much feels like a bunch of status quo incrementalism. * standardized plans for homes * city of toronto housing corporation leveraging city owned land * lower housing charges * ~collect data~ * improve ~quality~ of housing (bigger floorplans?) this is so handwavy. Um Let's not Do Housing Bad, Let's Do Housing Good. quote:We have a plan to encourage more adequate housing through various incentives. We’re going to leverage our City-owned housing and development charge plans to encourage adequacy. We’re going to build city where you’ll want to go to school, raise a family, and retire in. We all deserve better. Lower developer fees + increase permit turnaround is bog standard right wing stuff. Wouldn't do anything to make housing more affordable. Enforcing developers to do bigger floor plans would only increase the price of housing. "Leverage city owned land" is more of a classic left thing but hindered by the fact that if you add it all up the amount of land is smaller than you think, and if you want to buy more, ok where's the money coming from? Looks like Punwasi has the more Liberal position of being ok with the product being market priced, which can then be leveraged to buy more land. That makes the idea a bit more sustainable and viable. His website does look good he's got that going for him and he's clearly figured out the politician skill of writing a bunch of nothing remarkable ideas in a way that makes it sound like these are real solutions.
|
|
#
?
Sep 20, 2022 20:13
|
|
|
McGavin posted:Ontario's 23-year-old 'Crypto King' goes bankrupt, loses $35 million of investor's money. Ontario strong
|
|
#
?
Sep 20, 2022 22:48
|
|
|
I like his defense of "the investors were dumb, what did they expect"quote:"Shockingly, it seems that nobody bothered to consider what would happen if the cryptocurrency market plummeted or whether Aiden, as a very young man, was qualified to handle these types of investments," wrote Simaan.
|
|
#
?
Sep 20, 2022 23:01
|
|
|
Ontario really do have the best people
|
|
#
?
Sep 20, 2022 23:29
|
|
|
Also me.
|
|
#
?
Sep 20, 2022 23:43
|
|
|
I started looking into the Vancouver municipal elections, and the majority (including the front-runners ) are talking affordable housing in one way or another. Other than the Greens (whose platform website doesn't work), the only real exceptions are rump parties -- NPA, Vision and TEAM. ABC Vancouver: (Ken Sim, the leading right-leaning mayoral candidate's party) https://abcvancouver.ca/vision/ "Address the housing crisis - triple the number of housing starts and streamline permitting" Typical right-wing pablum and pretty hand-wavey, but probably not the worst thing? Also lol that they're all "rah rah give more money to the cops" when, crime is at an all-time low. Forward Vancouver: (Kennedy Stewart, the leading left-leaning mayoral candidate's party; they don't actually list a platform, but do list some quite real accomplishments) https://www.forwardvancouver.ca/housing_affordability -Tripled the empty homes tax to move over 5,000 empty homes into the local rental market. -Securing half-a-billion dollars from the federal and provincial governments to house working families and people without homes. -Taking action to protect renters from renovictions. -Fast-tracking the creation of affordable rental homes. -Introducing the Making HOME program to encourage middle-class homeownership. COPE: https://www.copevancouver.ca/jean_swanson Lots of focus on housing and supporting the homeless, plus mansion taxes. Proposing to build social housing on city land. A bit of "Let’s make sure we get affordability in new rental housing" which has historically translated to blocking much-needed apartment buildings. OneCity: (The only party with a platform that actually provides detail). https://www.onecityvancouver.ca/the_homes_we_need https://www.onecityvancouver.ca/community_power https://www.onecityvancouver.ca/whole_communities - Build social housing by transforming the VAHA into an actual developer rather than just a permitter. - Change rules to encourage more 2BR and 3BR family-sized units. - Land Value Tax - End zoning restrictions on apartments - Streamline permitting but only for social housing - Tenant advocacy office to actively assist tenants against their landlords - Preserve cultural neighbourhoods - Legalize six floors and corner store city-wide - Fund community building activities for apartment buildings - Build social housing in nice neighbourhoods, not just the dregs - Build social housing on School Board properties - Continue and expand indigenous reconciliation development projects like Jericho and Sen̓áḵw - Build new housing in communities that are declining in population, so existing schools and other services are better used Progress Vancouver: https://www.progressvancouver.ca/vision Self-proclaimed YIMBY's; pretty similar to OneCity except they have some right-wing roots - Reduce urban sprawl - "free the permitting process from micromanagement" - "we must reform outdated exclusionary zoning" - public transit, biking, etc Kinda excited really.
|
|
#
?
Sep 20, 2022 23:44
|
|
|
Gonna start a Vancouver municipal party called SEETHE and ally with COPE so we can form the COPE and SEETHE alliance.
|
|
#
?
Sep 20, 2022 23:49
|
|
|
Lead out in cuffs posted:Sen̓áḵw I didn’t even know that my phone could display that.
|
|
#
?
Sep 21, 2022 00:06
|
|
|
Subjunctive posted:I didn’t even know that my phone could display that. 𒄖𒁺𒂊 𒂉 𒂉𒂊 𒅗𒂵 𒅗 𒋛𒀀𒂵 𒀭𒋫𒀊𒉐, you know?
|
|
#
?
Sep 21, 2022 00:22
|
|
|
I’m living in the future.
|
|
#
?
Sep 21, 2022 01:44
|
|
|
Canada is truly the land of opportunities Even children can get rich when they work hard enough and persevere enough to defraud investors
|
|
#
?
Sep 21, 2022 02:34
|
|
|
https://twitter.com/NMBCanada/status/1572344728615518209?s=20&t=MdkllehH88Fbrgm68-ovHg
|
|
#
?
Sep 21, 2022 03:10
|
|
|
Mr. Apollo posted:I like his defense of "the investors were dumb, what did they expect" I think it's a fair defense if the moron yute didn't make any prohibited representations of himself or his qualifications. I see this poo poo all the time: the blind leading the blind when it comes to investments. I don't think it's fraud, and I don't think that if you choose to listen to an idiot and do what the idiot says, you're owed recompense when it doesn't work out. I think the guarantee of returns might border on fraud, but it's so patently ridiculous that in the absence of an attempt to defraud, such as a Ponzi scheme, I can't say it's criminal or even civilly negligent.
|
|
#
?
Sep 21, 2022 06:02
|
|
|
PT6A posted:I see this poo poo all the time: the blind leading the blind when it comes to investments. I'm curious, what is the PT6A approved investment strategy?
|
|
#
?
Sep 21, 2022 13:18
|
|
|
Postess with the Mostest posted:I'm curious, what is the PT6A approved investment strategy? giving money to PT6A
|
|
#
?
Sep 21, 2022 15:25
|
|
|
Postess with the Mostest posted:I'm curious, what is the PT6A approved investment strategy? Index funds, mutual funds, or similar. Don't try to time the markets, invest for the long term.
|
|
#
?
Sep 21, 2022 16:26
|
|
|
https://twitter.com/RE_MarketWatch/status/1573265443707559937 Underpricing by almost 50% and then being amazed at all the offers rolling in and this is news? Are you making GBS threads me?
|
|
#
?
Sep 23, 2022 14:03
|
|
|
Cold on a Cob posted:Underpricing by almost 50% and then being amazed at all the offers rolling in and this is news? Are you making GBS threads me? That list price won't look so absurd once the mortgage preapprovals under 5% run out.
|
|
#
?
Sep 23, 2022 14:10
|
|
|
Price it at $1 you cowards.
|
|
#
?
Sep 23, 2022 14:11
|
|
|
Cold on a Cob posted:https://twitter.com/RE_MarketWatch/status/1573265443707559937
|
|
#
?
Sep 23, 2022 14:19
|
|
|
tagesschau posted:Canadian housing has been obviously overvalued for years now (just check the age of this thread), too. The fact that stupidly easy credit is finally drying up for the first time in a decade and a half seems to be forcing prices back into a reality where buyers' income and assets actually matter. Personal real estate comedy: I bought a condo in Edmonton for 20K over asking (270 total) in 2006. On the advice of a family friend/realtor, who is now no longer either. I bought a house in 2011 (for 65K under asking!), with the intent to sell the condo. Attempts to sell the condo for a non-loss situation in 2011 and 2015 were unsuccessful, timed as the last one was with the oil crash. I'm currently renting the condo out to a grad student who's been living there since her first year of university and would frankly feel terrible about selling it from under her; I'm renting for below market rate but it covers the cost of the mortgage and the condo fees so meh. I haven't really looked at the condo market since 2015. I still could probably not sell the condo for what I paid in 2006, despite the insane run up in prices - my house is probably "worth" twice what I paid a decade ago - and at this point I probably will just hang on to the condo so my kids can live there if they go to university in Edmonton. The moral, of course, is never hire a family friend as a realtor, especially if you're 26 and an idiot.
|
|
#
?
Sep 23, 2022 17:38
|
|
|
Albino Squirrel posted:I still could probably not sell the condo for what I paid Albino Squirrel posted:I probably will just hang on to the condo realestate.xlsx
|
|
#
?
Sep 23, 2022 18:47
|
|
|
|
| # ? May 11, 2024 05:32 |
|
|
The moral, of course, is never hire a
|
|
#
?
Sep 23, 2022 19:11
|
|