Also see: Are Australians insane? and Californians are no longer insane but they once were.Update: While playing Crack Shack or Mansion? I came across this gem for a mere $1.3 million. Honey, stop the car!
Thursday, April 15, 2010
Are Canadians Insane?
Judging from the pictures, I'd say that Vancouver BC is now more bubble-riffic than California was at the height of the US real estate mania. $1.18 million for this? Play Crack Shack or Mansion!
Also see: Are Australians insane? and Californians are no longer insane but they once were.
Update: While playing Crack Shack or Mansion? I came across this gem for a mere $1.3 million. Honey, stop the car!
Also see: Are Australians insane? and Californians are no longer insane but they once were.Update: While playing Crack Shack or Mansion? I came across this gem for a mere $1.3 million. Honey, stop the car!
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21 comments:
I wonder if the RCMP will ignore the massive frauds going on behind the scenes, just like our own wonderful FBI. :-p
Based upon the volume of fraud I bet they will ignore the vast majority of it. But that is only my opinion. There's no evidence of fraud in Vancouver real estate circles at all. :-) Working-class families in Vancouver really can make legitimate financial arrangements for these exceedingly modest $1.3 million beater houses with termites and wood rot.
Does the 1.3 million include the rot on the stairs?
You gotta have the rot! Realtors tell me it is the new faux-dive.
Lou, tell "False Casey" to put up an update post about:
a) you-know-who's parents defaulting on their bankruptcy repayment plan.
b) you-know-who's impending troubles with the IRS, as briefly mentioned on Twitter
c) you-know-who's family about to be kicked out to the street, and possibly into prison, if they proceed with the scheme you mentioned in your last post...
I remember getting lectured by Canadians about how rational, sound, and "moral" their banking system was compared to the American way. And yet their property bubble looks set to explode in a more spectacular fashion. $1M+ for crappy starter homes? We'll see how long the smugness lasts...
We've printed more dollars in the last ten years than in our entire history. So a lot would slosh over into Canada.
So many dollars, so much 'credit' chasing few houses.
That's what happens in a fiat, paper money, Weimar like, heavy debt tax base killing economy.
What good are dollars? You can not saving them. They decrease in value over time, and you get taxed too.
Put it in the fluffed up stock market? Muni bonds? China?
Canada is essentially a resource-based economy and right now China is driving their growth. The same can be said for Australia. When the Chinese bubble collapses Canada and Australia will face hard times.
"Honey stop the car!"
Hahaha I still use that line.
Thanks for keeping it real Lou!
Lou...
Serin's gone off the deep end.
Anon, the end is drawing very near.
What's "the end" in this case?
Homelessness? Incarceration? Suicide? :-p
With this organized crime family, hate to say it but I'd be happy with any or all of the above.
Lou, my jaw dropped when I played that game, especially when I got the answer wrong on that 2nd pic you posted.
FYI: The crime family has a garage sale tomorrow, perhaps they're downsizing so they can all live in a motor home together?
http://sacramento.craigslist.org/gms/1696129264.html
Oops, I just looked at the time. The garage sale is today, my bad.
Ok, so I mentioned before I worked for a Canadian bank and said they were so uptight and moral you could stick coal up their asses and it would come out diamonds. I really gotta wonder what changed to make them start doing these loans.
Is Labatt's Blue free now?
I know some years ago the Vancouver boom was being fed by Chinese families with British Commonwealth passports looking for a safe place to call home if the whole Hong Kong handover thing went south. Could this still be true by extension? Could it be Chinese families looking for a safe haven for when the Chinese bubble bursts? The city is already one fifth ethnic Chinese.
Oh, and the problem is province-wide, not just in Vancouver.
Across B.C., the average home price hit $516,970, some 21-per-cent higher than in the same month a year ago.
In Metro Vancouver, the average price in March hit $693,482, a 31-percent jump from the same month a year ago.
The Cuke Man's SSN is officially out in the wild.
Here it is in Hexadecimal:
242A1F58
:-)
Part of the bubble is due to tons of Chinese looking for a place to escape to if the poop hits the fan over there. Everyone I know in Shanghai is looking for - or has bought - a place in Vancouver, Australia, SF/LA, or New Zealand. Sometimes, they own houses in all of the above.
The smartest Canadians I've met where the ones who retired to Mexico.
Once they are granted "expat" status by Canada, their retirement income is taxed at a maximum of 15%, with no Canadian tax on any income generated outside Canada.
I didn't believe them until I looked up the tax treaty for myself.
The U.S. expats in that same group I spoke with noted they were still in the 28% federal bracket.
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