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Powershift
Nov 23, 2009


AVeryLargeRadish posted:

My heart bleeds for landlords, truly.

"My tenants aren't providing me a monthly profit on top of paying the mortgage for me, and can't fix the yard sale appliances i installed" :cry:

Going through the real estate section of kijiji here is incredibly entertaining. Trailers for sale for 90 grand with "own your own home, cheaper than paying rent!*** " as the title.


*** Lot rental $419/month

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Powershift
Nov 23, 2009


They also had different sales at times. you could take the future shop flyer into best buy and get extra money off. When a TV is $1000 at future shop and $1600 at best buy, you could bring the future shop flyer in to best buy and get it for $940.

For midnight releases of consoles and games, it also split the lines into 2 groups, which matters when there are 200 people, 4 tills, and each transaction takes 18 minutes because they are required to give you the entire warranty speech every time.

it's also one more big empty anchor store which quickly leads to big empty malls. once sears is gone, over half of the anchor stores in the local malls here are gone leaving just the bay, safeway, and walmart.

Powershift fucked around with this message at 02:10 on Mar 29, 2015

Powershift
Nov 23, 2009


Count Canuckula posted:

Which is to say Safeway and Walmart because I swear to christ I've never seen a living soul inside The Bay at my nearby mall

During christmas, you can park right outside the bay and walk through it so you don't have to walk from the back of the parking lot in the cold.

On your trip through to the mall, you can see all the stuff they used to sell in stores, and get blasted by nasty rear end perfume right by the exit to the mall.

Powershift
Nov 23, 2009


jm20 posted:

Why are we posting about China here, are we expecting a large immigration wave to Vancouver/Toronto after the inevitable Chinese economic meltdown?

After?

Powershift
Nov 23, 2009


You guys realize people leave perfectly good furniture on the curb all the time, right?

And with socialized healthcare, and a subarctic climate, you don't have to worry much about mystery rashes or spiders, either.

Powershift
Nov 23, 2009


You guys don't get it.

The 2015 f-150 is aluminum, like an airplane. That makes the 2014 a massive pile of poo poo. The dealer will give you $35k trade-in on the 2014, and roll the 20k difference from what you still owe into the loan on the 2015.

Then they can run the loan on the 2015 into 96 months so your payment is still only $1000 a month

How could you not?

Powershift
Nov 23, 2009


Mr Luxury Yacht posted:

Either I'm reading that wrong or you're paying $96,000 for a 55K truck, of which you only owe 20K on..

wat

But it's ALUMINUM

People finance a $60k vehicle, a year later it's only worth $35k and they still owe $55k, so they add the 20k into the loan on the new $60,000 truck owing $80,000 on a loan for a $60,000 vehicle.

edit: one of the dodge dealers here is also an r/v dealer, and always advertises truck + travel trailer combos for like $500 a month. The truck is over 96 months, and the trailer is over 240 months. 20 fuckin years of payments on something that depreciates 50% in the first year, and 90% within 10 years.

Powershift fucked around with this message at 20:24 on Jul 23, 2015

Powershift
Nov 23, 2009


How much worse can ontario's debt situation get before we can talk about kicking them out?

Powershift
Nov 23, 2009


I couldn't believe that existed, and while looking for it found a similar lender which asked what the purpose of the loan was. The drop-up list included some of your favorite reasons for borrowing money.



I wonder if you have to get 2 seperate loans if you plan on having a honeymoon, or if you can just use some of the wedding loan money for the honeymoon.

Powershift
Nov 23, 2009


Maybe they meant $90 canadian :smith:

Powershift
Nov 23, 2009



Of course, we've got the moutains and....a whole bunch of stuff that's not mountains.

Powershift
Nov 23, 2009


Rime posted:

Same. As long as AB keeps tanking I'm going to have a really, really awesome small town reunion in 2018. A delicious buffet of quality schadenfreude is on the menu. :woop:

You could invite them all down to your van and show them how great vancouver life was before they hosed it up.

Powershift
Nov 23, 2009


There's a major earthquake and tsunami in that region every 240 years on average, and the last one was about 310 years ago so as long as you're higher than the 3rd floor, you should be fine.

Houses have a chance of becoming beach front property too, so there's really no way to lose.

Powershift
Nov 23, 2009


Cultural Imperial posted:

Laff what kind of idiot with that much poo poo doesn't get a sprinter instead

You'd be surprised what gets classified as a "road" out here.

Also, that truck was likely paid for in cash. The "truck equity" folks are the people with a $1k/month note on the truck the use to drive to their IT office job at an oilfield company.

As silly as it looks, anything longer/heavier sinks. anything shorter/lighter breaks.

Powershift
Nov 23, 2009


Sidakafitz posted:

Well, yes and no. If he didn't have the stupid double cab he would either have a lot more cargo room for his welding gear or a better turning circle and off-road ability.

Having lived in Alberta for most of my life, I don't take too much offense at even the most obnoxious welding truck, but all the "metal mulisha" idiots with their lifted 3500s that hardly even leave the city can all go gently caress themselves.

The stupid double cab is where you keep your clothing warm and dry. when it's -40*c or you're laying in mud.


jet sanchEz posted:

CBC radio had a guy on who was an auction liquidator in Alberta and he was talking about how his company has seen an increase in newer used trucks being sold at auction. He had a 2016 Ford that was originally purchased for $93K hit the auction block, he didn't say what it ended up selling for though.

Trican has been running brand new, unused 2012/2013 trucks through the auctions.



Probably $180k to buy and rig up at a 1:1 dollar. they sold for $125k - $140k cad with a 70 cent dollar

Over the summer i saw some of their pickups go through the auction, too. 2015 F350s, under 100 kms on them. probably ~$60k sticker going for $30k.

And then the NDP comes along and tanks this well run company with their environmentalism and oil royalties.



loving NDP :argh:

Powershift
Nov 23, 2009


Cultural Imperial posted:

No joke, I would but the gently caress out of consumer credit default swaps

I would invest in a synthetic CDO based on your consumer credit default swap.

It's win/win/win, really no downside.

Powershift
Nov 23, 2009


Guest2553 posted:

Repurpose the wells as underground dwellings.

Hey, that gives me an idea. There are probably well over 10,000 400 barrel tanks sitting around now unused and likely never going to be used again.



Drag them down to vancouver, cut out a couple windows, bam. That's a $1500 a month bungalow laying down, or a $2000 a month bi-level standing.

Powershift
Nov 23, 2009


Mantle posted:

The upside is Albertans will be trapped there by their mortgages.

In fort mac, they'll just stop paying rent and go back to BC or ontario.

Their landlord is going to be stuck in like 6 mortgages though, and that was his retirement!

Powershift
Nov 23, 2009


Jumpingmanjim posted:

Tangentially related but the story of the Demise of Sears due to it being run on the principles of Ayn Rand is an entertaining story:

http://www.bloomberg.com/bw/articles/2013-07-11/at-sears-eddie-lamperts-warring-divisions-model-adds-to-the-troubles

Sears canada is a whole other bag of snakes.

They have had 3 CEOs quit suddenly in 2 years, the last guy went to barnes and noble, as even book stores are doing better than sears.

The lady they have running it now doesn't want the stigma of "sears ceo" on her resume when she has to look for a new job, so she calls herself "president and chief merchant"

Powershift
Nov 23, 2009


Femtosecond posted:

Low interest rates have increased the amount of people that can bid on the same relatively small amount of properties. This has caused price increases. If we had 18% interest rates the amount of people that would be bidding would be less. In the latter case the demand is there, but it's pent up demand that can't realistically act on it.

Foreign funds that have no relationship to the local economy are certainly playing a role as well.

I don't think low interest rates make mortgage payments that are 100% of the median monthly income any more affordable.

They could explain the jump from $300,000 to $400,000. I don't think they can explain the jump from $1,400,000 to $1,800,000

Powershift
Nov 23, 2009


ChairMaster posted:

Wait people in other provinces don't know about the BC government? We're not famous nationwide?

Guys this government is number 1 garbage government for life. They're gonna be running this province until the end of time and there's nothing anyone can do to stop it.

nobody ever thought the conservatives would ever lose power in alberta.

Powershift
Nov 23, 2009


leftist heap posted:



lmao. Someone please overlay real income growth onto this so I can properly get off.

That's the black line at the bottom.

Powershift
Nov 23, 2009


PT6A posted:

On the other hand, everything you said isn't an inherent property of multi-family housing, just MFH as it exists in Canada, which is lovely. I'm not clear on why we can't work on cars, or hang laundry or any of that sort of thing. We need to claw back on the powers and restrictions that are available to landlords and stratas in general, to encourage densification in a way that can benefit everyone who isn't a giant whiny rear end in a top hat who should be taken out and shot anyway.



Unfortunately, i think most of what prevents that is a symptom of the "house as a financial tool" mindset.

"What you do with your house could affect the value of mine. I can't afford a house unless i'm expecting to make a profit by selling it, therefore i have to interfere with what you are doing to make my investment work."

Powershift
Nov 23, 2009


Lexicon posted:

Didn't really think about it that way - assumed the attitude was down to good old fashioned white-people-interfering-with-others, but this makes a lot of sense. Still loving sucks, of course.

There will always be NIMBY/NIYBY assholes just looking to poo poo on somebody, but unless they are the majority they can be easily disarmed. With a surplus of housing, and the utility of housing prioritized over the value, they can gather themselves into their own little walled safe space and leave everybody else to their life.

As a result of the current attitudes, and people's further desire for a larger debt load, these two places popped up a few years ago and remain half empty.

http://www.wheelhousegarage.com/site-map-pricing
http://mygarageworld.ca/site-map-unit-details-pricing/

They were around $400/square foot, but have both recently dropped under $150 with what i'm assuming is a swift "gently caress you" to the idiots who bought at $400. They are condos with condo fees as well as taxes, so $2000 a year in taxes and $1000 a year in condo fees on top of a $200k-$400k "condo" you can't live in and aren't allowed to run a business out of. Just a tool to get away from complaints and overreaching land use bylaws.

PT6A posted:

I got my muffler replaced [on my pussy V6 Mustang which I own because I'm a failure :v:] by a dude that works out of his house, and when I picked it up, he just revved it up in his driveway without a care in the world to show me his work. I thought his neighbours would get pissed off, but it turns out that people in a working-class neighbourhood have twist-resistant undergarments. Presumably, when he has a cigarette out on the deck, his neighbours don't treat it like a war crime either!

I live in a very blue-collar area, and still haven't gotten any complaints about using and storing a diesel forklift in my back yard.

Powershift fucked around with this message at 03:04 on Jun 1, 2016

Powershift
Nov 23, 2009


Even if they could all get out, where would they even go? Nowhere else in BC has a prada or louis vuitton store.

Powershift
Nov 23, 2009


Meat Recital posted:

What happened to account for the spike in 1980-81?

14% inflation, 21% interest, and a recession. Real estate was seen as a safe place to put money.

Powershift
Nov 23, 2009


Alberta is basically the same, only instead of a cabin it's $100,000 toy hauler travel trailers, pulling them to kelowna or osoyoos, complaining about traffic, the cost of fuel, and the cost of storing and maintaining a $100,000 trailer that drops 50% in value year after year.

RV dealerships often advertise 20 year loans on these things, there are people out there paying $500 a month for 20 years on a trailer that will be worth $5000 within 10 years, and still costs them $500/year to store. They often have $1000-$1500 payments on the truck they use to drag it around, too, owing $70,000 on a $60,000 truck because they rolled over what they owed on their last $60,000.

You guys joke about truck equity, but there are people out there applying for loans listing their travel trailer equity as part of their net worth.

Powershift
Nov 23, 2009



I know people who have survived house fires, so i smoke in bed.

Powershift
Nov 23, 2009


At least they'll have vaccines to blame for their autistic fetal weedbaby.

Powershift
Nov 23, 2009


It shouldn't be too long until it's all automated anyways. robotoic cars with a package cannon(great name for your penis, by the way) that drives itself around and fires boxes at your door.

Powershift
Nov 23, 2009


PK loving SUBBAN posted:

I don't have search but pretend I'm quoting every poster itt who's said this. I assume all of us would be there.


I see a cyclical recession coming in the next 18 months but so long as interest rates stay a quarter basis point above zero this housing bubble is going to keep chugging along. Global uncertainty will keep money coming into the country + a huge Fort Mac rebuild that is starting in the next few weeks will generate domestic demand for commodities.

Housing starts in calgary have dropped from 17,131 in 2014 to 13,033 to probably under 8000 this year. Edmonton is pretty simlar. The rebuild of fort macmurray over the next 2 years won't even take up the slack of the 2 big cities in alberta.

And that's if they even bother rebuilding. High river was destroyed by a flood in 2013. nearly 3 years later, almost nothing has been rebuilt, most of it hasn't even been torn down yet. I took these pictures last fall, which was still more than 2 years after the flood. Straight up zombie movie poo poo.

http://imgur.com/a/vWUt0

And with oil being in the shitter and the oilsands projects predicting 5 years ago that by this point they would be reducing construction labor jobs by 80% at this point as projects finished up, there is even less reason to live in fort mac as there is to live high river.

Powershift
Nov 23, 2009


Rime posted:

- The Finance Ministry reported commercial and residential real estate sold in the 2015-16 fiscal year reached $93.67 billion.

- BC's GDP in 2014 was $237.19 billion dollars.

- Construction was $17 Billion in FY '15-16.

- This leaves $126.56 Billion in GDP not "directly" :airquote: related to a real estate bubble.

I want you all to imagine the fallout if 47% of our annual GDP were to evaporate. Frankly, we're in a worse debacle than our regularly mocked neighbors in Alberta.

Don't worry, i'm sure they'll be putting that massive surplus into a legacy fund for when they can't pump any more luxury studio apartments out of the ground.

Powershift
Nov 23, 2009


I don't think people shuffling dirty money out of china will really give a gently caress about losing 15% of it. It's still cheaper than most other money laundering schemes.

It's really a 2 fold benefit for the BC liberals. A flashy headline before the election, and another surplus after it.

As long as people who own 8 houses are in charge of solving the problem, nothing meaningful will ever be done. If alberta is any example, you've still got another 20 years of blatant corruption before voters finally tire of it.

Powershift
Nov 23, 2009


Madkal posted:

Yea, but what if I want to give a million dollar donation to a realtor who just so happens to buy a place with that money. That's still legit right.


Well, they recently determined that only 3.3% of real-estate was directly to foreign buyers, so they're proudly proclaiming they're solving a problem that doesn't exist.

http://bc.ctvnews.ca/majority-of-foreign-buyers-from-china-new-real-estate-data-reveals-1.2977337

Somebody give these fuckers a raise so they can buy another 4 houses.

Powershift
Nov 23, 2009


unknown posted:

Was kind of expecting this in Vancouver first. The animation business game is pretty nasty, but that's a large number of ~70k employees that just got put on the street.

It was and is inevitable, the talented people have to make a massive adjustment in how they make their living, but the tax breaks were given to companies too large to rapidly adjust and maintain their work force. The race to the bottom with tax breaks forcing people to relocate to the most expensive cities in canada probably won't help them either.

Kids these days™ don't watch tv shows, they watch youtube. At that point you're competing with people producing content as a hobby and competing with 50,000 channels instead of 50. You can't structure a 40 person team around a project with the payback coming with syndication anymore.

Powershift
Nov 23, 2009


Madkal posted:

How will we survive?

Eat the rich.

Powershift
Nov 23, 2009


I would think at that point you could treat them like a tinder date and get them to take you out for drinks with no intention of ever putting out.

Powershift
Nov 23, 2009


Dreams of condo ownership.

How far away is a $360k vancouver condo from a bank breaking special assessment.

Powershift
Nov 23, 2009


OSI bean dip posted:

So $18K per Chinese national over 30 months and on average it's just about one person per day (28 per month). Two thirds of that is in Vancouver, so 18 people per month at YVR come in with the average of $18K. YVR claims that there are 70 flights per week in the summer and 59 in the winter (so let's just say 60 flights a week) between here and somewhere in China, meaning that in the about 260 flights per month it receives, there is a 6% chance that one of those planes contains somebody trying to sneak money in.

Typically you'll see a 777-300ER as a plane used in these sort of flights. This plane can hold anywhere between 340 and 451 passengers depending on configuration, so let's assume that each of those 260 flights has 400 people, meaning at most assuming that flights are always almost full, we're talking 104,000 persons go through YVR each month originating from China. At 18 persons per month, that means that 0.0002% of people visiting Vancouver from China are going to infringe on this rule. Even if the flights are not at full capacity, it's not going to change that percentage much.

Yes. Foreign capital is the problem.

While we're using bad math to be obtuse, nothing over $10,000 has to be declared, so it's safe to assume the other 103,024 people are each carrying $9,999 to skirt the rules. that's $1b a month coming in legally undeclared.

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Powershift
Nov 23, 2009


PT6A posted:

We should build lots and lots of nuclear power plants, they are good. Then we can stop loving around with the idea that the environmental impacts of fossil fuels can be dealt with by restricting supply instead of motivating a drop in demand.

I think Peace River encapsulates everything wrong with power generation in this country. They fought a nuclear power plant, hydroelectric dam, AND a wind farm from being built near their town. Now both shell and baytex pulled out of their oilsands projects there, the town is as good as dead, and all the people who protested electricity production are probably going to flee like rats anyways.

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