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^ as I said, he's either a genius or a lunatic. A thread on global financial governance would be excellent!
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Dec 16, 2014 19:13
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Rime posted:I came close to dying of hypothermia a few months ago, believe me, it's easily one of the worst ways to die unless it sets in very fast. You just lie there, thinking about everything you ever hosed up. Did you actually start living in a van? Winters a bitch, eh.
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Dec 16, 2014 19:31
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Rutibex posted:Did you actually start living in a van? Winters a bitch, eh. I was caught in heavy rain in the high alpine for four days while solo traversing the Stein, my jacket failed, my boots split open, and it got through my pack cover and drybags. When I got down off the mountains I had a pair of dry socks and long underwear, everything else was drenched. Hot food was not an option, because there was something cracking trees less than thirty feet from my tent. I set up on the SAR helicopter pad, three days from civilization in every direction, and hugged a flare to my chest while the realization set in that I was going to die. I thought about the things I would never see again, that I would never taste my mothers cooking again, that things I'd left unsettled would remain as such, and that they wouldn't find my body for another seven days when I finally became overdue. When I got camp set up, I was well into moderate hypothermia and heading for severe. Had my clothes not been wool and my sleeping quilt not water-resistant down, I would be dead. Had I taken an hour or two longer to reach camp, I would be dead. When I reached the cable car, my hands were blue and barely able to operate it. This lake is a lovely place to die:  The sun came out the next day and I hiked the valley in two and a half days, 22, 28, and 15km. 
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Dec 16, 2014 20:05
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You seriously walked 3 days from nowhere in boots so shoddy they broke open because of rain?!
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Dec 16, 2014 20:23
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Percentage of Toronto condos owned by foreign investors is very low, CMHC saysquote:For the first time, the Canada Mortgage and Housing Corporation has put a number on the percentage of condos across the country owned by foreign investors and says it's highest in Toronto -- at a mere 2.4 per cent. 
tagesschau fucked around with this message at 20:29 on Dec 16, 2014 |
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Dec 16, 2014 20:25
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There's more than a few foreign owners who actually live in the condos, though, right? Is there anything on vacancy in there?
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Dec 16, 2014 20:30
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Isn't the difference between a tight market and a loose market a few percentage points?
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Dec 16, 2014 20:32
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MickeyFinn posted:Isn't the difference between a tight market and a loose market a few percentage points? I think the point is more that high foreign ownership isn't driving up condo prices, because high foreign ownership of condos is not actually a thing.
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Dec 16, 2014 21:14
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Rime posted:I was caught in heavy rain in the high alpine for four days while solo traversing the Stein, my jacket failed, my boots split open, and it got through my pack cover and drybags. When I got down off the mountains I had a pair of dry socks and long underwear, everything else was drenched. Hot food was not an option, because there was something cracking trees less than thirty feet from my tent. I set up on the SAR helicopter pad, three days from civilization in every direction, and hugged a flare to my chest while the realization set in that I was going to die. I thought about the things I would never see again, that I would never taste my mothers cooking again, that things I'd left unsettled would remain as such, and that they wouldn't find my body for another seven days when I finally became overdue. I'm glad you survived and all but geez don't go backpacking multiple days in the wilderness alone. That's just common sense.
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Dec 16, 2014 21:22
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 Quality editing right there, TorStar. The last figure should read condos. And those numbers don't mean a lot if they're not adjust or normalized for the location/geographical distribution/square footage of condos vs apartments. Still, on the face of it... why would you rent a condo? Yeesh.
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Dec 16, 2014 21:26
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Kafka Esq. posted:You seriously walked 3 days from nowhere in boots so shoddy they broke open because of rain?! Rutibex posted:I'm glad you survived and all but geez don't go backpacking multiple days in the wilderness alone. That's just common sense. Wait, did you guys all miss his E/N thread about wanting to buy a cheap yacht and sail across the world, despite not knowing anything about sailing?
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Dec 16, 2014 21:40
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Guy DeBorgore posted:It's a little bizarre to see posters who wouldn't trust Ben Bernanke if he said the sky was blue, applauding Hal_2005's walls of financial jargon. They must be reacting to the tone rather than the content. I have a pretty strong background in econ and a bit in finance and I can hardly discern much a point out of any of it. I'd be interested but suggest it gets put in BFC instead of D&D to enable a more balanced discussion. Rime posted:I was caught in heavy rain in the high alpine for four days while solo traversing the Stein, my jacket failed, my boots split open, and it got through my pack cover and drybags. When I got down off the mountains I had a pair of dry socks and long underwear, everything else was drenched. Hot food was not an option, because there was something cracking trees less than thirty feet from my tent. I set up on the SAR helicopter pad, three days from civilization in every direction, and hugged a flare to my chest while the realization set in that I was going to die. I thought about the things I would never see again, that I would never taste my mothers cooking again, that things I'd left unsettled would remain as such, and that they wouldn't find my body for another seven days when I finally became overdue. That valley actually looks like a nice place to bite it. Better there than suburbia 
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Dec 16, 2014 21:43
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tagesschau posted:I think the point is more that high foreign ownership isn't driving up condo prices, because high foreign ownership of condos is not actually a thing. That also hides investment vehicles, eg: a Canadian holding company whose assets are all real estate and whose working capital is all from foreign dollars. The officer of the company is likely also a per hour lawyer. This will count as Canadian investment, even though it's just another step in the way money is laundered. I agree the panic about foreign ownership is overblown, but the stats depend on banks, builders and agents being truthful when reporting to CMHC, which isn't a good way of generating accurate figures.
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Dec 16, 2014 21:44
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Franks Happy Place posted:Wait, did you guys all miss his E/N thread about wanting to buy a cheap yacht and sail across the world, despite not knowing anything about sailing? Bitch I write my CYA day skipper exam next week and passed the practical last weekend. 
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Dec 16, 2014 21:48
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eXXon posted:
Some people are obsessed with having everything brand new and all the bells and whistles so they rather spend almost double to rent a shiny new condo than a perfectly great purpose built apartment that might not have granite countertops or a wifi enabled popcorn machine with built in surround-sound you can control from your phone. They also love having an amateur landlord and being treated as a 2nd class citizen by people who own. When I was moving last year we looked at a lot of rentals, the condos were always way more expensive. I didn't think they were much nicer but holy gently caress were they more expensive for the same or less amount of space. But some of them had a gym or a roof-top bbq deck or what ever poo poo justifies the way higher price.
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Dec 16, 2014 21:48
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Rime posted:Bitch I write my CYA day skipper exam next week and passed the practical last weekend. Wait, does this mean those mean old broads at the DMV finally gave you a driver's license?
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Dec 16, 2014 21:50
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Rime is a hard rear end. You can be my wing man any time.
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Dec 16, 2014 22:01
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Condos get fibre internet so there's that at least. My stupid old apartment building can't get it 
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Dec 16, 2014 22:17
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tagesschau posted:I think the point is more that high foreign ownership isn't driving up condo prices, because high foreign ownership of condos is not actually a thing. That was my question. If the difference between a tight market (totally made up number: 4%) and a loose market totally made up number: 6%) is only 2%, then having 2.4% of your property owned by foreigners is, indeed, the difference between ever increasing property prices and an easier market for buyers. I have seen here, in the LA rental market, that 2-4% vacancy is considered extremely tight and 7-9% vacancy hilariously loose. So, foreigners running in and snapping up 2.4% of the rentals in LA could very well make the difference between cheap living and expensive as hell. Anyway, my point is that "small numbers" have to be compared to something else. If 2.4% of my body was cancer, that would be really, really bad.
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Dec 16, 2014 23:12
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MickeyFinn posted:That was my question. If the difference between a tight market (totally made up number: 4%) and a loose market totally made up number: 6%) is only 2%, then having 2.4% of your property owned by foreigners is, indeed, the difference between ever increasing property prices and an easier market for buyers. I have seen here, in the LA rental market, that 2-4% vacancy is considered extremely tight and 7-9% vacancy hilariously loose. So, foreigners running in and snapping up 2.4% of the rentals in LA could very well make the difference between cheap living and expensive as hell. Anyway, my point is that "small numbers" have to be compared to something else. If 2.4% of my body was cancer, that would be really, really bad. There is no shortage of condos though. Toronto is loving jam packed full of the fuckers, with 10's of thousands of units in the pipeline. There are loads of units unoccupied. So it's not like 2.4% foreign investment means anything other than less foreign investment than most people assume, at least in Toronto, which is the condo capital of the world as far as I can tell.
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Dec 16, 2014 23:36
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 Site C is a go http://www.cbc.ca/news/canada/british-columbia/b-c-government-approves-site-c-dam-1.2874433 This might be worthy of its own thread. I don't know much about it, but people I respect seem to think it's a very bad idea.
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Dec 16, 2014 23:52
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Lexicon posted:
This is the capstone on nearly two decades of mismanagement at BC Hydro, a legacy that should go down as possibly the most shortsighted and criminal actions of the BC Liberals by a significant margin. The energy generated by Site C could be found by expanding and upgrading existing facilities, but then it wouldn't be located conveniently close to where it will be needed for LNG compression. Destroying a vast swathe of the province to subsidize an industry that isn't even profitable. Goddammit all, Bennet is spinning in his grave. 
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Dec 17, 2014 00:07
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Rime posted:Bitch I write my CYA day skipper exam next week and passed the practical last weekend. You know it takes many, many sailings to learn enough to not die in real oceans right Also I thought you wanted to buy a farm or something
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Dec 17, 2014 00:10
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http://www.npr.org/templates/transcript/transcript.php?storyId=368723679 Iceland had a debt jubilee. Surprisingly, it's poor people who got hosed because they didn't have the 'vision' to be spendthrifts.
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Dec 17, 2014 00:33
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http://thetyee.ca/News/2014/12/12/Calgary-Homeownership-Hack/quote:"It was almost unbelievable," said Stephen Korkoya, who with his family last month moved into a new three-bedroom townhouse in Calgary's West Springs neighbourhood. what in everliving gently caress
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Dec 17, 2014 00:50
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Cost of home ownership = mortgage payment duh
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Dec 17, 2014 01:03
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I just couldn't stop shaking my head the whole way through reading that. I remember similar schemes run by some of the banks over here in the US leading up to the GFC. They liked to target blacks and other minorities, take a wild guess what these loans were commonly known as within the companies: "friend of the family Loans" Classy eh?
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Dec 17, 2014 01:30
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Rime posted:Bitch I write my CYA day skipper exam next week and passed the practical last weekend. The basic? Cause I did that in two or three weekends on a lake back when I was eighteen or so and uh... I wouldn't loan someone who's just passed it my boat. The intermediate? That's a whole other six days. Congrats, you can now rent a boat. (Probably not in Europe) To compare, the guy mopping floors on a cargo ship has three weeks of survival and emergency training.
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Dec 17, 2014 01:53
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tagesschau posted:I think the point is more that high foreign ownership isn't driving up condo prices, because high foreign ownership of condos is not actually a thing. Yeah most of it is a red herring to help deflect blame from the financial literacy of the average canadian. How prices are the fault of evil foreigners not bad local economic policy decisions.
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Dec 17, 2014 01:56
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The really sad thing about that tyee article is that it betrays the lack of financial literacy loving tyee editors and writers have.
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Dec 17, 2014 02:45
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Cultural Imperial posted:The really sad thing about that tyee article is that it betrays the lack of financial literacy loving tyee editors and writers have. I like the whole Ponzi scheme feel of the whole thing, underwrite the whole thing since you sign up people now to get amazing future profits.
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Dec 17, 2014 03:20
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There was a big development just outside of Victoria that basically had this system, it went bankrupt and there was a lot of rather extreme financial irregularities and funds vanishing.
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Dec 17, 2014 03:33
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Baronjutter posted:There was a big development just outside of Victoria that basically had this system, it went bankrupt and there was a lot of rather extreme financial irregularities and funds vanishing. lol basically builders unload homes which will crash in the near future on high risk borrowers, while the muni government blesses the whole idea as a progressive affordable housing initiative. The whole scheme also depends on future prices always going up up up.
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Dec 17, 2014 04:19
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More Victoria funnies. So the Oak Bay Beach Hotel is now in bankruptcy. It cost like 80 million to build but they some how owe 120 million and some people are saying some serious scam went down. Also it's a "hotel" in that you buy a tiny condo and then the building manages it as a hotel suite but you can stay in it when ever you want. Why pay a few hundred a night for your week in Victoria every year when you could pay 300k for a 1br and stay for free any time you want?!
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Dec 17, 2014 05:12
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The better question would be, "Why spend any free time in Victoria?"
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Dec 17, 2014 05:20
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etalian posted:The better question would be, "Why spend any free time in Victoria?" Oh, come on. Victoria's a nice place. A poo poo place for a career, but not a bad little weekend jaunt. Baronjutter posted:Why pay a few hundred a night for your week in Victoria every year when you could pay 300k for a 1br and stay for free any time you want?! The NYTimes had a great analogy about this a while ago - serious overbuying of property in this manner by comparing it to food. http://www.nytimes.com/2014/05/06/upshot/everyone-wants-to-be-a-homeowner-why-not-a-foodowner.html?nytmobile=0&_r=0&abt=0002&abg=0 NYTimes posted:Imagine if we bought food the way we buy housing.
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Dec 17, 2014 06:07
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I love Victoria. It's amazing how much nicer people are there compared to Vancouver. Best hotel I've ever stayed at is the Oswego hotel in James bay. Nothing like a full condo suite facing the ocean.
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Dec 17, 2014 06:35
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Cultural Imperial posted:I love Victoria. It's amazing how much nicer people are there compared to Vancouver. So true. Like a different planet.
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Dec 17, 2014 06:44
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I find Victoria stuffy, like all the old ladies were going to tell me not to step on the grass. I personally like Vancouver better. 
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Dec 17, 2014 12:11
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The best part of Victoria is all the poo poo outside victoria that's easy to get to the city itself is kind of boring, but in an endearing way
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Dec 17, 2014 17:04
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