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Canadian average weekly wage $909
- Thread starter Wallace
- Start date
you would think some congressman would come up with an idea to preserve North and South Korea as some kind of International Museum to Man Made Borders, and the USA could fund the whole thing.Quote from oldtime:
the one that cracked me up when I was a little kid was East Germany and West Germany, I mean, that is really splitting hairs
Quote from oldtime:
and all that difference, based on nothing more than a line men drew on the map
Which gives me an idea. Maybe they should just redraw a couple of lines a few hundred miles. The immediate jump in median housing prices should act as a great stimulus. It sure couldn't do worse than the printing press!
we could pay people to act impoverished, and cower in fear whenever they were forced to act reverently towards their dictator. The whole thing would make for great theatre, and could be a tourist attraction.Quote from oldtime:
you would think some congressman would come up with an idea to preserve North and South Korea as some kind of International Museum to Man Made Borders, and the USA could fund the whole thing.
It's just a matter of getting Disney on board to invest in "Capitalist World."
why not? We are trading partners. We'll trade you some real estate for health care and some GDP, in exchange for lower housing prices (of course, that doesn't include North Dakota, we need it when people start complaining that all the news is too pessemistic.)Quote from StarDust9182:
Which gives me an idea. Maybe they should just redraw a couple of lines a few hundred miles. The immediate jump in median housing prices should act as a great stimulus. It sure couldn't do worse than the printing press!
Why stop there? Just give Mexico a few hundred miles every time we need more unskilled labor?
The whole thing could become like a movable feast.
Quote from marketsurfer:
It's time to short canadian real estate. Any suggestions?
thanks,
surf
You find a way you let me know. Myself and others of like mind have been looking for a vehicle for forever to not only offset asset risk but to also take specs on falling prices. There is no 'Canadian housing futures' unfortunately.
Quote from StarDust9182:
I googled "Vancouver empty condos" and found several articles. My friend was renting in yaletown and I found this quote from one dated last month:
"In Coal Harbour â an area that boasts some of the most expensive properties in Canada â the vacancy rate sits at 23 per cent, said Yan."
and
"In downtown Vancouver â excluding the cityâs West End neighbourhood â roughly 52 per cent of condo units are occupied by owners â while 48 per cent are owned by investors who live at another address."
The vacancy rates were calculated using power consumption from the local utility. Clever method.
On the ground in 604, I wouldn't be surprised on these rates being right. In Vancouver city proper, there is generally 2 main divisions, west of main and east of main. East of main is being bid by locals and 2nd gen immigrants, whereas west of main is primarily foreign (china) nationals that have pushed out the locals. There is a strong corr between west of main prices and FXI.
Vancouver condos are like the NINJA loans of MBS. There are select properties selling >70% off of peak asking and these are high end luxury types. Those in the know and with cash are waiting and those that hold RE are notably stressed.
that's the main pointQuote from StarDust9182:
â while 48 per cent are owned by investors who live at another address."
real estate bust late 70s early 80s. a recession/depression saw unemployment
above 20% in Vacouver and higher elsewhere in BC. real estate boom in Toronto
and tradesmen moved there for employment, and later in the late 80's early 90's
some Torontonians were selling their properties for large sums, moving here and
Victoria to buy 'cheap' homes and make large deposits in the banks with still rela-
tively high interest rates. in between was the stock market rally - 82 and crash 87
then rally again. in the Lower Mainland primarily Chinese, what ? investors ? were
going to open houses with their pockets full of cash buying, out-bidding if need be
All the properties available for sale, and some acting as agents buying a dozen or
more at a time. that was the start of 'how can 'we' - our children afford to buy a
home' and Vancouver being christened Hongcouver the play on Hong Kong since
that's where so many of the Chinese buyers originated
today many condo buildings are sold out particularly in Toronto based on the plans
and artist renditions before the building is built. the out-of-country buyers are likely
increasing given the China boom. some condos are owner-resident only some do
allow renting. the fact that 'many' condos appear empty means nothing in terms of
'investment' or the owner doesn't at this time choose to occupy or that there's a bust
underway in the real estate market
2-3 months ago the Vancouver median price single family home topped $1,000,000
China's housing story is different, what China has accomplished in what, 30 years
took the West 200 years to accomplish. if the US is supposed to have the world's
largest economy, what's it say to the country that has a population three times greater
than the US
the UK went thru a huge property boom in the 80s, Australia this past decade so
there's always a boom bust cycle with 'housing' as supply catches up with population
demand, falls off then picks up again
remember that a few decades ago real interest rates were at 21% , they're at 0% now