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  #7041  
Old Posted May 18, 2017, 1:10 PM
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Originally Posted by sunsetmountainland View Post
oh yeah! Welcome back MolsonExport little disappointed no Kevin o'Leary.
don't worry, I still have n=37 for you.

KO'L has crept back to Boston. Where he belongs.
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  #7042  
Old Posted May 18, 2017, 1:12 PM
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Originally Posted by lio45 View Post
Honestly, what's the harm in briefly discussing first names? Rest assured that it won't prevent real estate industry shills from posting carefully doctored REBGV data showing it's all going to the moon and beyond, if that's what they want to do. The occasional off-topic branching away from the original topic does not ever prevent anyone from bringing the thread back on topic anytime, should they have anything to say. I never understood why moderation seemed to prefer a dead thread to a living-but-off-topic one.
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. John Kenneth Galbraith
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  #7043  
Old Posted May 18, 2017, 5:12 PM
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You want to why house prices are so out of touch with incomes, from last week's Macleans magazine:

...But as a Chinese newcomer with a buy-at-all-costs resolve, Shen also personifies a phenomenon dividing those “natives” he’d like to call his neighbours. In the past five years, the flow of money from mainland China into Canadian real estate has reached what many consider dangerous levels, contributing to a gold-rush atmosphere in the nation’s leading cities, while stirring anger among young, middle-class Canadians who feel shut out of their hometown markets.

Its impact on Vancouver’s gravity-defying boom is the best known—and most hotly debated—example, as eye-popping price gains leave behind such quaint indicators as average household income, or regional economic activity. “We’re bringing in people who just want to park their money here,” says Justin Fung, a software engineer and second-generation Chinese-Canadian who counts himself among those frustrated by Vancouver’s surreal housing market. “They’re driving up housing prices and simply treat this city as a resort.”...

...National Bank of Canada economist Peter Routledge has “hypothesized” that Chinese buyers last year shelled out nearly $12 billion on real estate in Vancouver, accounting for 33 per cent of the city’s sales. For Toronto, he pegged the number at $8.4 billion, representing 14 per cent of sales.
Other analysts have dismissed the estimate, which Routledge produced by combining U.S. foreign investment figures with a survey of property ownership among 77 affluent Chinese people. But the numbers seemed to support an earlier, more controversial, study of home sales in three of Vancouver’s most expensive neighbourhoods, showing that 66 per cent of houses sold during a six-month period starting in September 2014 went to Chinese people with non-anglicized names. The author of that report, an urban planning professor named Andy Yan, interpreted that to mean the buyers were new arrivals....


http://www.macleans.ca/economy/econo...ng-the-market/
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  #7044  
Old Posted May 20, 2017, 5:34 AM
sunsetmountainland sunsetmountainland is offline
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Originally Posted by Acajack View Post
The fact that you focus so much on French Canadians and the French language as being seemingly the sole reason for "language distractions" in threads may be a good sign of why these things happen, and also why they spiral out of control.

Just sayin'...
That fact that we have a language debate! When in fact we all speak english! Yet we have had about four threads closed due to a language debate that had nothing to do with the actual thread! Thus why I suggest to create a language thread yet you do not because you know it will get locked!

Just sayin'............................
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  #7045  
Old Posted May 20, 2017, 5:37 AM
sunsetmountainland sunsetmountainland is offline
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Originally Posted by MolsonExport View Post
don't worry, I still have n=37 for you.

KO'L has crept back to Boston. Where he belongs.
I respect that you have come back after having your meltdown! However, most of your posts tend to be of the complimentary kind towards pictures! Then of a trolling kind without reason. If you are intelligent why not at least try to be that instead of n=37!
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  #7046  
Old Posted May 20, 2017, 6:09 AM
sunsetmountainland sunsetmountainland is offline
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Originally Posted by whatnext View Post
You want to why house prices are so out of touch with incomes, from last week's Macleans magazine:

...But as a Chinese newcomer with a buy-at-all-costs resolve, Shen also personifies a phenomenon dividing those “natives” he’d like to call his neighbours. In the past five years, the flow of money from mainland China into Canadian real estate has reached what many consider dangerous levels, contributing to a gold-rush atmosphere in the nation’s leading cities, while stirring anger among young, middle-class Canadians who feel shut out of their hometown markets.

Its impact on Vancouver’s gravity-defying boom is the best known—and most hotly debated—example, as eye-popping price gains leave behind such quaint indicators as average household income, or regional economic activity. “We’re bringing in people who just want to park their money here,” says Justin Fung, a software engineer and second-generation Chinese-Canadian who counts himself among those frustrated by Vancouver’s surreal housing market. “They’re driving up housing prices and simply treat this city as a resort.”...

...National Bank of Canada economist Peter Routledge has “hypothesized” that Chinese buyers last year shelled out nearly $12 billion on real estate in Vancouver, accounting for 33 per cent of the city’s sales. For Toronto, he pegged the number at $8.4 billion, representing 14 per cent of sales.
Other analysts have dismissed the estimate, which Routledge produced by combining U.S. foreign investment figures with a survey of property ownership among 77 affluent Chinese people. But the numbers seemed to support an earlier, more controversial, study of home sales in three of Vancouver’s most expensive neighbourhoods, showing that 66 per cent of houses sold during a six-month period starting in September 2014 went to Chinese people with non-anglicized names. The author of that report, an urban planning professor named Andy Yan, interpreted that to mean the buyers were new arrivals....


http://www.macleans.ca/economy/econo...ng-the-market/
When you really think about it! Those Chinese buyers they are now gods! I just hope one day some of use Canadians learn from them. Perhaps maybe some day we will be as smart as the Chinese buyer! Look at all the people in the article Shen, Fung,Routledge! Only God and the Chinese can afford Vancouver real estate!
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  #7047  
Old Posted May 20, 2017, 11:09 AM
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Originally Posted by sunsetmountainland View Post
That fact that we have a language debate! When in fact we all speak english! Yet we have had about four threads closed due to a language debate that had nothing to do with the actual thread! Thus why I suggest to create a language thread yet you do not because you know it will get locked!

Just sayin'............................

Still not seeing what the issue is.

"Language debates" as you refer to them aren't about people complaining that the thread is only in English and that it should be bilingual.

Though in theory that question could be raised about this and the rest of SSP Canada.

You wouldn't want that now, would you?
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  #7048  
Old Posted May 20, 2017, 1:56 PM
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Originally Posted by Acajack View Post
Still not seeing what the issue is.

"Language debates" as you refer to them aren't about people complaining that the thread is only in English and that it should be bilingual.

Though in theory that question could be raised about this and the rest of SSP Canada.

You wouldn't want that now, would you?
No more than you would want that raised, non?
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  #7049  
Old Posted May 20, 2017, 2:46 PM
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Originally Posted by mistercorporate View Post
No more than you would want that raised, non?
Why would it be an issue for me if SSP Canada became a fully bilingual forum with lots of posts in both English and French? I can read or write both languages perfectly.
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  #7050  
Old Posted May 20, 2017, 2:52 PM
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Originally Posted by Acajack View Post
Why would it be an issue for me if SSP Canada became a fully bilingual forum with lots of posts in both English and French? I can read or write both languages perfectly.
Okay, fair enough, i read/inferred something else from your question, probably incorrectly. My bad.
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  #7051  
Old Posted May 20, 2017, 2:53 PM
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Originally Posted by mistercorporate View Post
Okay, fair enough, i read/inferred something else from your question, probably incorrectly. My bad.
No worries.

Can I be in your signature quotes?
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  #7052  
Old Posted May 20, 2017, 2:58 PM
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No worries.

Can I be in your signature quotes?
Sure thing, but your zingers tend to be longer than one line. If you think of a good one, PM me it and i'll add.
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  #7053  
Old Posted May 20, 2017, 5:37 PM
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Originally Posted by sunsetmountainland View Post
That fact that we have a language debate! When in fact we all speak english! Yet we have had about four threads closed due to a language debate that had nothing to do with the actual thread!
Totally incorrect. Those threads were locked because some moderator decided to lock them. Mods don't need reasons­. True Canadian/Belgian-style "language debates" were most assuredly not taking place in those threads. Off-topic discussion, now, yes, guilty as charged.

Asking precisions about an out-of-the-box-thinking St. John's realtor's first name is kind of on topic for this thread. Your ramblings often are just as off-topic, i.e. only mildly relevant to the topic of real estate in Canada.
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  #7054  
Old Posted May 20, 2017, 5:43 PM
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Originally Posted by sunsetmountainland View Post
I respect that you have come back after having your meltdown! However, most of your posts tend to be of the complimentary kind towards pictures! Then of a trolling kind without reason. If you are intelligent why not at least try to be that instead of n=37!
I'm not privy to the exact standards of the moderation team here, but if you asked me, it's possible that trying to pass off n=37 data as a quality study, with the actual sample information buried in there, could probably be a threadlock-worthy offense (derails the discussion, is intellectually dishonest, and is likely to cause a shitstorm as people with knowledge of stats show up in the thread). So, YOU are endangering threads as well, I'm not the only one.
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  #7055  
Old Posted May 20, 2017, 8:36 PM
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One market that is still going wild right now is Milton, mostly everything that has sold in the past 2 weeks has went over asking. The average price for a home there is now over $820,000. Back out semis and townhouses and that number surges to almost $1,000,000. (All homes sold in past 20 days via Toronto MLS). In fact Milton is now closing in on Mississauga in terms of average pricing for homes. A couple of years ago there was a huge difference in terms of pricing between the two areas.
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  #7056  
Old Posted May 24, 2017, 7:14 AM
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If anyone wants a good read on how rotten the subprime business in Canada may be you can find it here:
http://business.financialpost.com/ne...nlucky-brokers

It shows how lax enforcement is in Canada. Does anyone really believe it could limited to the 45 brokers eventually sniffed out by Home Capital?
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  #7057  
Old Posted May 25, 2017, 1:05 AM
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Based on preliminary data I've seen from the first two weeks of May, it looks like prices in the GTA have actually fallen about 2-4% from the month of April depending on the area. It looks like the government legislation combined with the Home Capital media attention has indeed spooked buyers like I predicted it would. Market is softening 100%.

The market is pretty quiet right now, open house traffic has decreased drastically over the past month compared to earlier this year.

Last edited by travis3000; May 25, 2017 at 1:19 AM.
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  #7058  
Old Posted May 25, 2017, 7:06 AM
sunsetmountainland sunsetmountainland is offline
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Originally Posted by Acajack View Post
Still not seeing what the issue is.

"Language debates" as you refer to them aren't about people complaining that the thread is only in English and that it should be bilingual.

Though in theory that question could be raised about this and the rest of SSP Canada.

You wouldn't want that now, would you?
I think you understand what I meant about language debates and the said threads that were closed. Playing stupid is just that!
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  #7059  
Old Posted May 25, 2017, 7:13 AM
sunsetmountainland sunsetmountainland is offline
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Originally Posted by lio45 View Post
I'm not privy to the exact standards of the moderation team here, but if you asked me, it's possible that trying to pass off n=37 data as a quality study, with the actual sample information buried in there, could probably be a threadlock-worthy offense (derails the discussion, is intellectually dishonest, and is likely to cause a shitstorm as people with knowledge of stats show up in the thread). So, YOU are endangering threads as well, I'm not the only one.
Ok, lets look at this in a reasonable way. What has n=37 brought to the debate in this forum?
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  #7060  
Old Posted May 26, 2017, 12:19 AM
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Unfortunately the driving cost in Vancouver is land value, and as they keep going up without the new supply to balance those increases, even those new stock homes will continue to be priced high.

That's the problem with real estate, the market, developers, the land - it all plays hand in hand to skew whatever price increase has happened into a "new normal". Developers can't blanket the market in cheap housing stock, because the costs to acquire the land are prohibitive. Vancouver needed to act about 30 to 40 years ago to get in front of this problem.

That said, Vancouver needs to be doing everything in their power to increase housing stock (low, mid, high rise, anything) just to temper current price gains. The number of single family detached housing stock in metro Vancouver is absurd, and the political push back against redevelopment is only adding fuel to the fire.
Gary Mason in the Globe & Mail this week accurately drives a stake in to the supply strawman:

Have you heard the one about how supply is going to solve the great Canadian housing crisis?

If you’ve listened to the real estate industry or our political leaders, you likely have. A lack of supply is the great culprit behind soaring prices and the lack of affordable homes. Just build more condo towers and presto, problem solved.

Well, they’re building them in Metro Vancouver and Greater Toronto – lots of them. The Onni Group is now marketing a building in downtown Vancouver with units starting at $1.7-million. Another developer, Intracorp, is advertising Belpark, on the city’s west side, where you can get a two-bedroom, plus a den for $1.5-million. And on it goes...

..Here is the other brutal reality about the great supply argument: vast swaths of these units are being built and presold to foreign purchasers. These buyers, in turn, are either flipping the properties for a profit before they are even finished or hanging on to them as safe investments and renting them out. Sure, that might help bolster the rental stock, but why are locals who earn incomes in Canada and pay taxes here being shut out from buying these homes?

The problem is this type of foreign-investment activity is helping drive up prices. Everyone knows it and yet little is being done about it. Some of these offshore purchasers are, in fact, flipping the condos for a profit before final sale and avoiding paying the 15-per-cent foreign-buyers tax in the process.

No, there is lots of “supply” in Vancouver and Toronto. That isn’t the issue. It’s who’s getting access to that supply that is a big part of the problem. And it’s also the type of “supply” being built.

Many of the condos being constructed are designed to be purchased by wealthy investors, the Lamborghini crowd..


https://www.theglobeandmail.com/opin...ticle35091277/
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