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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
Come to Vancouver. Sure the jobs don't pay and you'll be living in a boarding house full of bunk beds stacked like cord wood but at least you'll be nestled between the ocean and mountains, two places you'll barely ever get to visit because you're spending all of your meager paycheque on the bare necessities.

At least you don't need a parka.

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cowofwar
Jul 30, 2002

by Athanatos
Vancouverites could possibly have better quality of lives with their lovely incomes but they also are all full on-board the conspicuous consumption train.

The ones in rooming houses are the ones up at whistler every weekend. The ones who bought a condo on a $40k job are working at their second job.

namaste friends
Sep 18, 2004

by Smythe
wow, how the gently caress did i miss that jezebel article on lululemon

sbaldrick
Jul 19, 2006
Driven by Hate

Subjunctive posted:

I thought TD in the US was a separate corporate entity not included in the assets of TDCT (and therefore not in the shares in question). Is that not the case?

You are thinking of TD Ameritrade, which for legal reasons TD can't own control of but are they majority stockholders of.

PT6A
Jan 5, 2006

Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

etalian posted:

It's just not the mortgage you are talking at least a few hundred each month in strata fees along with all the other extra costs such as tax and maintenance.

Can someone 'splain me why strata fees and special assessments are noted as especially bad features of condo living? These are all things you would either have to do or pay to have done if you owned any kind of dwelling, it's just that you could presumably let your property fall into complete disrepair if you prefer.

sbaldrick
Jul 19, 2006
Driven by Hate

HookShot posted:

You guys are missing out if you haven't seen THE WOLF OF WHISTLER's youtube videos: https://www.youtube.com/watch?v=95dRwxMV7iY


I'd love to see how much business this commercial has really driven as it's peak bro-douche.

cowofwar
Jul 30, 2002

by Athanatos

PT6A posted:

Can someone 'splain me why strata fees and special assessments are noted as especially bad features of condo living? These are all things you would either have to do or pay to have done if you owned any kind of dwelling, it's just that you could presumably let your property fall into complete disrepair if you prefer.
Strata fees can roll in bullshit that you never use like gyms or pools.

Special assessments often come all at once and end up subsidizing cheap asses who kept the building in disrepair for forty years.

ZShakespeare
Jul 20, 2003

The devil can cite Scripture for his purpose!
The moral of the story is that if you buy in a building with a pool and a gym, you should utilize the poo poo that you are paying for and get swole rather than sitting on your fat goon rear end all day.

PT6A
Jan 5, 2006

Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

ZShakespeare posted:

The moral of the story is that if you buy in a building with a pool and a gym, you should utilize the poo poo that you are paying for and get swole rather than sitting on your fat goon rear end all day.

Yeah, my building has a gym and I use it 4-5 times per week on average, and I would otherwise have to pay for a gym membership (and then actually go to the gym, instead of just going downstairs). That's not some useless amenity, it's a thing that pretty much everyone should be taking advantage of on a semi-regular basis.

I don't use the hot tub as much, but I use it occasionally. Sadly, we are not allowed to drink in the hot tub.

Subjunctive
Sep 12, 2006

✨sparkle and shine✨

sbaldrick posted:

You are thinking of TD Ameritrade, which for legal reasons TD can't own control of but are they majority stockholders of.

You're right, I am. Thank you.

etalian
Mar 20, 2006

PT6A posted:

Can someone 'splain me why strata fees and special assessments are noted as especially bad features of condo living? These are all things you would either have to do or pay to have done if you owned any kind of dwelling, it's just that you could presumably let your property fall into complete disrepair if you prefer.

Because it's a unknown cost, people think that in a condo mortgage you only have to worry about the monthly payments when in reality their are many extra costs.

You also might get a suprise strata assessment if the building needs a big repair like windows or new roof.

ZShakespeare
Jul 20, 2003

The devil can cite Scripture for his purpose!
Special assessments require an owner meeting with advance notice and a 3/4 vote so it's not exactly a surprise. Besides you went over all the minutes, and deficiency reports before you bought and got the poo poo looked at by a professional like a responsible home buyer right?

It's no different than if you bought a detached house with a roof about to collapse.

MickeyFinn
May 8, 2007
Biggie Smalls and Junior Mafia some mark ass bitches

Cultural Imperial posted:

haven't you been reading mickeyfinn's last couple posts? #yoloswag and you'll be happy

don't be such a cheap rear end

gently caress yeah, what is the worst that could happen? You'll be happy for a few years before losing everything instead of being miserable for a few years (if you really care about housing) and then getting nothing when the bubble collapses and takes the local economy and your job with it.

Coolwhoami
Sep 13, 2007

ZShakespeare posted:

responsible home buyer

There's your problem right there, not only do you need to be one, but so does everyone else in the building, not only now but for as long as you live there.

namaste friends
Sep 18, 2004

by Smythe
http://business.financialpost.com/p...-vicious-circle

quote:

After long boom, Canada’s housing shows some signs of cooling as high prices create ‘a vicious circle’

VANCOUVER/TORONTO — Seven years into a Canadian housing boom that many have warned will end in a bust, there are signs of a sales slowdown in the two hottest cities, with some economists and real estate agents saying the peak has passed.

A cooling of sales activity in Toronto and Vancouver, the two tent poles holding up an otherwise soggy national housing market, could bring the two markets into line with the rest of the country’s tepid economy.

It would be welcome news to homebuyers who have struggled to win bidding wars in the two cities, which represent about 54 per cent of the Canadian housing market. Even some real estate agents welcome the idea of a calmer market.

“A few months ago the dogs — the less desirable units that a year ago nobody was bidding on — they were going with multiple offers … that’s definitely slowed,” said Pete Shpak, a Vancouver agent.

“I have seen a couple (homes) lately, though, that I thought would go into multiple offers, but didn’t,” he added.

Prices are still up dramatically over the past five years in both cities, rising 41 per cent in Vancouver and 45 per cent in Toronto, according to the Canadian Real Estate Association (CREA).

But seasonally adjusted residential sales in Toronto fell by 1.8 per cent in March from February and were flat in April, while Vancouver sales slipped 0.3 per cent in March and 1.0 per cent in April. Activity was still well up from a year ago.

“There are reasons to believe maybe we’ve hit the peak in those two markets,” Gregory Klump, chief economist for CREA, said on Friday. “But I expect them to remain strong.”

Some economists said U.S. interest rate hikes expected later this year could drive up Canadian bond yields and mortgage rates, helping cool sales.

Desjardins senior economist Benoit Durocher sees a lack of affordability ending the boom in Toronto and Vancouver, where prices have far outstripped income gains.

“Since prices are so high, you have fewer buyers in the market and fewer transactions. I think it is the first step before an adjustment in the price,” said Durocher, who expects national prices to drop 3 per cent in 2017.

Klump and others also blame limited new listings for stalling monthly sales growth, as some homeowners who would like to cash in fear an inability to move up.

“It’s a vicious circle. As people consider selling, it might be very difficult to find a home to meet their needs. We haven’t seen as many listings as you would expect based on price growth,” said Jason Mercer, director of market analysis at the Toronto Real Estate Board.


hey guys you're not supposed to tell the market the boom is over

UnfortunateSexFart
May 18, 2008

𒃻 𒌓ð’‰𒋫 𒆷ð’€𒅅𒆷
𒆠𒂖 𒌉 𒌫 ð’®𒈠𒈾𒅗 𒂉 𒉡𒌒𒂉𒊑


Real ad

ZShakespeare
Jul 20, 2003

The devil can cite Scripture for his purpose!

Coolwhoami posted:

There's your problem right there, not only do you need to be one, but so does everyone else in the building, not only now but for as long as you live there.

Funny, this is how I feel about having to co-exist with all people on all scales. Maybe city life isn't for you.

ZShakespeare
Jul 20, 2003

The devil can cite Scripture for his purpose!

hey burnaby heights bro

Coolwhoami
Sep 13, 2007

ZShakespeare posted:

Funny, this is how I feel about having to co-exist with all people on all scales. Maybe city life isn't for you.

Perhaps that's part of the appeal of detached housing: the illusion of being independent. It helps that property taxes are a highly abstract sort of shared costing, whereas strata fees are a pretty overt and topical reminder of whatever dumb poo poo your building gets up to.

Femtosecond
Aug 2, 2003



:staredog:

namaste friends
Sep 18, 2004

by Smythe
Bob Rennie race relations heritage fund lmao

namaste friends
Sep 18, 2004

by Smythe
I love that profligacy is now a virtue. Thanks mickeyfinn what a time to be alive

MickeyFinn
May 8, 2007
Biggie Smalls and Junior Mafia some mark ass bitches

Cultural Imperial posted:

I love that profligacy is now a virtue. Thanks mickeyfinn what a time to be alive

Easy there, hoss. I didn't say it was a virtue, just that it might make someone happy for a little while.

McGavin
Sep 18, 2012

Step 1: Christy Clark brings representatives from Nu Stream Realty and Sutton West Coast Realty as part of her trade delegation to Asia.
Step 2: People find out.
Step 3:

Christy Clark's Twitter posted:

We are focused on growing BC's economy and creating jobs. There is no promotion of BC residential real estate. Full stop.

:downsbravo:

namaste friends
Sep 18, 2004

by Smythe
http://m.huffpost.com/ca/entry/10174634?utm_hp_ref=canada-british-columbia&ir=Canada+British+Columbia&

Attention yoloswag supply side dipshits

namaste friends
Sep 18, 2004

by Smythe

quote:


While global capital is undoubtedly a major factor in Vancouver’s housing prices, to say that it is the only factor is wrong. Is an influx of global capital impacting Vancouver’s housing market? Absolutely. The same thing is happening in diverse, resilient cities like London, New York, and San Francisco, which—like Vancouver—are also struggling to protect affordable housing for their residents. What Vancouver also shares with these other world-class cities is a nation-leading economy founded on green, clean jobs in technology, innovation, digital, and knowledge-based industries that add thousands of well-paying jobs to our city per year. In the next six months alone, there will be 2,000 jobs that companies are hungry to fill and pay 66 percent higher than the industrial average wage.

DJ mayor Gregor moonbeam wrote a thing in Canadian monocle

http://thewalrus.ca/why-is-vancouver-so-expensive/

I can't be bothered to read the rest of this nonsense

Triglav
Jun 2, 2007

IT IS HARAAM TO SEND SMILEY FACES THROUGH THE INTERNET

Femtosecond posted:

How are these investor wizards picking which bank to short? Darts on a dartboard? Are they picking TD because it's the biggest? It's also probably the most diversified and it's a top 10 bank in the USA (America's Most Convenient Bank™). I wouldn't be surprised if it's the least exposed bank.

A glance at Andy Yan's survey of west side homes reveals that 69% of the mortgages were covered by CIBC, HSBC and BMO. Probably better banks to short if you think there are any shenanigans with weak oversight of loans.

Public companies post their financials and risk factors often. Which one's cash flows are slowing the most? Which one has the most exposure to what assets?

If all else fails, you can rely heavily on intermarket analysis techniques, judging the performance of a security relative its sector, other securities in its sector, or proportionally or inversely correlated assets. You might not know something's happening before it does, but you'll know it's happening.

Those short positions might be left over from before February when oil bounced, not in expectation of something about to happen. Maybe those shorts are giving some back because they don't think oil's rally will last, and they're holding for downside continuation. When people are looking to short something with an uncertain time horizon, they generally turn to options, not stocks. The operative phrase to look out for is "put to call ratio."

Throatwarbler
Nov 17, 2008

by vyelkin
What do these people expect the mayor of Vancouver to do anyway, declare war on China? Seems unfair to be dumping all the blame on him.

namaste friends
Sep 18, 2004

by Smythe
I dunno raise property taxes or something

Lain Iwakura
Aug 5, 2004

The body exists only to verify one's own existence.

Taco Defender
Make it so that if you own a piece of residential property and it is determined that it is vacant, your property taxes increase substantially.

James Baud
May 24, 2015

by LITERALLY AN ADMIN
.

James Baud fucked around with this message at 11:14 on Aug 25, 2018

Rime
Nov 2, 2011

by Games Forum

Cultural Imperial posted:

DJ mayor Gregor moonbeam wrote a thing in Canadian monocle

http://thewalrus.ca/why-is-vancouver-so-expensive/

I can't be bothered to read the rest of this nonsense

Who the gently caress is getting paid 66% higher than their industry standard wage, other than realtors? :picard:

Femtosecond
Aug 2, 2003

OSI bean dip posted:

Make it so that if you own a piece of residential property and it is determined that it is vacant, your property taxes increase substantially.

They studied this and found that the amount of vacant detached homes and townhouses was incredibly small. This is not actually a problem at all. There are more vacant condo units, but this is probably for reasons that have nothing to do with speculation and the greater housing bubble issue, as the rate of unoccupancy has no relationship with the rise in prices .

Femtosecond
Aug 2, 2003

The Mayor of Vancouver has the weakest ability of all actors to affect this situation. Pretty much all he could do is approve increased housing construction, which most people here disapprove of.

ianmacdo
Oct 30, 2012

Femtosecond posted:

They studied this and found that the amount of vacant detached homes and townhouses was incredibly small. This is not actually a problem at all. There are more vacant condo units, but this is probably for reasons that have nothing to do with speculation and the greater housing bubble issue, as the rate of unoccupancy has no relationship with the rise in prices .

I thought that study was poo poo? Like if a caretaker came in once a month to pick up the mail and turned on the lights while there, that house would have counted as occupied.

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
Yep. That's right. There's a house next to me with automatic lights. I bet it counts, too.

Also tried to buy a house and some dick got it for just over our bidding price... in cash. Who the gently caress has 215k in cash?

namaste friends
Sep 18, 2004

by Smythe
https://twitter.com/LJKawa/status/737622196504408064?s=09

namaste friends
Sep 18, 2004

by Smythe
https://twitter.com/LJKawa/status/737622363253178368?s=09

namaste friends
Sep 18, 2004

by Smythe
https://twitter.com/LJKawa/status/737624795693625344?s=09

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namaste friends
Sep 18, 2004

by Smythe
https://twitter.com/LJKawa/status/737626163300995072?s=09

#yoloswag #dontworrybehappy

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