Oh, Canada...


#261

Vancouver: $10,000 a year tax on empty homes.
Lie about it and it’s $10,000 a day.

calgaryherald.com/vancouver+slaps+year+empty+homes+about/12372683/story.html

Ouch.


#262

thestar.com/business/2016/10/23/finance-ministers-key-advisers-want-100m-canadians-by-2100.html

This idea makes the Germans and howling mad Merkel seem almost sane


#263

#264

qz.com/903194/vancouver-house-p … r-control/


#265

And just to show the whack-a-mole nature of the current global property bubble (which the bizarrely myopic Property Pin readers appear to unaware of…) - the hot Chinese money simply turned up in Toronto where prices have jumped another 20%+ in 12 months.


#266

Yeah its crazy, how will this craziness end. I dont really see any benefit in allowing non resident non nationals buying property


#267

More whack a mole madness relevant to the China & Canada threads…

Cross posting with the Australia thread:

thewest.com.au/business/propert … b88374251z

Basically these ‘investors’ are now pumping the WA market (I also noticed Adelaide jump mid last year) because they are getting priced out of Sydney/Melbourne.
This is different to seeking capital appreciation…this is willingness to accept losses once they are going to be less than whatever they anticipate will happen the Yuan.
Or possibly if they aren’t legally able to hold onto any money then larger losses are still better than total loss. Its about seeking the best safe haven

Where does this end? Will the Vancouver tax keep a lid on it, even if only in Vancouver?


#268

Politicians in these cities/countries are doing the following simultaneously:

  1. They’re perfectly aware that their property markets are receiving external injections of literally billions of dollars, ranging from genuine investments to outright money-laundering.
  2. They insist that the ‘fundamentals’ of their local market are sound - nothing to see here.

I’m not looking forward to the fallout and I’m trying to diversify my business interests to be more resilient/redundant - but everything is now so (intentionally) interconnected that it’s extremely difficult to do so.


#269

Good luck in the coming madness! worst case scenario we get gfc part 2


#270

The current IPO / S-1 filing by Snapchat is a thing of such terrible beauty :slight_smile:

  • Shares will have no voting rights, none, nada, zip, first time ever posited on a US exchange I believe
  • Going public with a negative gross margin i.e. the more users it attracts, the more cash it loses
  • Included some lovely fig-leaf-covering words along the lines that they may never make a profit.

#271

“Toronto’s rental market is bananas”
the average condo rent for a one-bedroom is now about $2k pm (€1.4k pm)


#272

B.C. is desperate to keep its housing bubble aloft. It won’t work - -> canadianbusiness.com/economy … wont-work/
Dec 19, 2016

Rising Canadian home prices make new regulations more likely - -> reuters.com/article/us-canad … SKBN16222T

How to cool a red-hot housing market - -> macleans.ca/economy/how-to-c … ng-market/

Canada’s Addiction To Building Homes ‘A Loud Alarm Bell’: BMO - -> huffingtonpost.ca/2017/03/29 … 89472.html


#273

macleans.ca/economy/how-to-c … ng-market/

A real estate expo where real estate agents are worshipped on a par with chart topping American rap stars - if that doesn’t scream bubble, what does?


#274

One of Canada’s worst lenders is in serious trouble. I think this is only the start of the trouble there.

google.co.uk/finance?q=TSE%3AHCG


#275

Yep!

About time, Aus, New Zealand to follow


#276

https://i66.tinypic.com/6p6f0y.jpg

It was fine when Mark Carney was there. Canadians were devastated to lose him!


#277

business.financialpost.com/news/ … llion-loan

what a *****!
Just piled 2 billion of peoples pensions onto his bonfire


#278

nearly 300million of that pension money burned already

cbc.ca/news/business/home-ca … -1.4089781


#279

zerohedge.com/news/2017-04-26/canadas-housing-bubble-explodes-its-biggest-mortgage-lender-crashes-most-history


#280

Now that last bit really shows the faith in the housing market

bloomberg.com/news/articles … nada-banks