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Is it time to buy Canadian real estate?


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2007 Apr 29, 2:44pm   20,107 views  150 comments

by Patrick   ➕follow (59)   💰tip   ignore  

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Now that global warming is a fact, who benefits? Why, the Canadians, of course. They have vast areas of land that are becoming more pleasant as global temperatures rise. It may be the right time to snap up millions of acres of uninhabited land at bargain prices before the rest of the world figures it out.

Come to think of it, rising temperatures make most of Russia more habitable as well.

Go north, young man!

#housing

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105   Peter P   2007 Apr 30, 8:59am  

If global warming is truly a scientific fact rather than political PR scam, all we can say is, we don’t know what kind of impact it will have on local weather patterns.

That is a big IF. Perhaps global warming is caused by pseudo-scientific shit-stirring.

106   Peter P   2007 Apr 30, 9:01am  

I don’t mind living in Vancouver except for the horrible commie medical system that puts you on a perpetual wait for any major treatment.

You come South for treatment. Advanced medicine in America welcomes you, as long as you can pay up.

107   MichaelAnderson   2007 Apr 30, 9:01am  

Casey Sarin posted a google spreadsheet of his liabilities. So outrageous it's comical.

108   Peter P   2007 Apr 30, 9:02am  

I have to say that Koi Palace beats many, if not most, Chinese restaurants in Vancouver.

The San Gabriel Valley also has excellent Chinese restaurants.

109   tsusiat   2007 Apr 30, 9:04am  

OO -

don't like the horrible commie medical system in Vancouver? How about going back to using the real commie medical system in China?

Before floods of immigrants arrived simultaneously with doctors leaving for greenback pastures (ie the States), horrible commie medical system in Vancouver was very popular.

Even now, the only Canadians I know who would swap with the US system are, actually, wait a minute.... I don't know anyone who would swap with the US system....

Necessary surgeries happen a lot faster than the HMO/Managed Care flunkies PR system would have you believe. When it comes to cancer care, there is just no comparison.

Vancouver is good for Szechuan food too.....

110   hugel   2007 Apr 30, 9:07am  

CB,

But some transactions in Rivermark in first qtr. have shown outright price decline

http://housebubble.blogspot.com/2007/03/rivermark-falling.html

111   Peter P   2007 Apr 30, 9:09am  

But some transactions in Rivermark in first qtr. have shown outright price decline

That Friggin Fortress is cracking.

112   cb   2007 Apr 30, 9:16am  

OO

I haven't been to Vancouver for couple of years, but Sun Sui Wah was definitely good, I heard Kirin is good too, for cheaper places, we used to go to Hon Kee and another noodle house was really excellent (Tsim Chai Kee).

Funny you mentioned the medical system, my parents still live in Toronto and they are elderly, I haven't heard too many complaints. One time my budding torn a ligament in Whistler skiing, we went to emergency in Richmond and they patched him up and even gave him crutches. Then the doctor asked him to fill out the forms to mail him the bill, he could've given them a bogus address and they will never find him (he didn't and he paid his bills). I guess emergency rooms always get shafted.

I am semi-serious about moving back to Canada, medical is a big reason, I don't really want to work till I'm 65 (a software engieer after mid forties has limited prospects as Randy says) but you can't get Medicare before then, so leaving the US is a serious option.

I just quit my current job and now I found out all coverages cease the same day, before, at least you will get covered till the end of the month, then they changed it to mid-month, now it's the same day.

113   Peter P   2007 Apr 30, 9:18am  

I just quit my current job and now I found out all coverages cease the same day, before, at least you will get covered till the end of the month, then they changed it to mid-month, now it’s the same day.

Buy don't you get retroactive COBRA coverage in case sh*t happens? Or was I daydreaming?

114   Peter P   2007 Apr 30, 9:20am  

The True North is great. If all goes well I plan to retire there, but not because of the medical system. Canada is the new California. :)

115   cb   2007 Apr 30, 9:23am  

That Friggin Fortress is cracking.
That ones that Anthony shown was the ones that were bought at the 2006 or late 2005 peak. So no doubt it made sense that it was coming down. I live there and yesterday I went to my kid's classmates' house so they could play. They live in one of the biggest town houses and couple of their neighbor had open houses. There were more activities then I thought, one couple had a Oregon plate, I told my wife after that I can't imagine anyone from out of town buying at these prices unless they work for Google with guaranteed stocks (not options). The 1900 sq. ft. townhouses runs upwards of 850K.

116   Peter P   2007 Apr 30, 9:26am  

The 1900 sq. ft. townhouses runs upwards of 850K.

Not completely unreasonable. That works out to less than $450 per sqft.

Well, if a condo in London can be sold for nearly $10000/sqft... (yep, ten grand).

117   cb   2007 Apr 30, 9:26am  

Buy don’t you get retroactive COBRA coverage in case sh*t happens? Or was I daydreaming?

You're right, but you'll have to pay out of pocket and then continue with COBRA, it's not a big deal. I don't blame the company for terminating coverage on day of termination, it's just a pain in the ass if you want to take some time off in between jobs.

When I was a graduate student in the US, I was too poor to get health insurance, my Canadian insurance would actually foot the bill, but only to the amount that the procedure will cost in Canada.

118   Jimbo   2007 Apr 30, 9:27am  

How lame is it that Bart does not go down to the southern peninsula? Then there’s San Jose’s separate light rail system. It’s like they are purposely trying to design a public transit system that discourages people from using it.

You know that Marin and San Mateo Counties were part of the original BART plans, but voted down the 1/2 cent sales tax needed to support it, right?

Blame NIMBY suburban voters and their love of the automobile. Now that 101 is a permanent traffic jam, San Mateo finally relented, but not before the BART line got run southwest through The City, instead of paralleling 101, like it was originally planned. This will add at least 15 minutes to the Palo Alto -> Downtown commute.

I hear that San Mateo and Marinites also didn't want "those people" to have easy access to their neighborhoods via BART, but this debate all took place back in the late 60's.

119   Peter P   2007 Apr 30, 9:28am  

I don’t blame the company for terminating coverage on day of termination, it’s just a pain in the ass if you want to take some time off in between jobs.

Last time I purchased temporary insurance for a two-day gap. Then it turned out that I was covered anyway. It is good to be on the safe side.

120   Jimbo   2007 Apr 30, 9:37am  

we’ve done basically nothing to either shore up the freeway system or find alternative solutions.

BART has steadily marched outward. It is great if you live near it (like I do). I find that walking 15 minutes to BART and then taking it downtown is faster and more reliable than taking the J-Church, which stops 1/2 block from my house.

121   Peter P   2007 Apr 30, 9:40am  

The best alternative system is to make all freeways toll roads. Using electronics and satellite positioning, the implementation should be feasible.

We should put a price to everything.

122   skibum   2007 Apr 30, 9:42am  

BART has steadily marched outward. It is great if you live near it (like I do).

That's a big IF. BART is so sparse in its coverage that it's useless for probably more than 80% of Bay Area residents. I find Muni (especially with the light rail) much more useful, but obviously, that only covers the city proper.

123   Peter P   2007 Apr 30, 9:44am  

BART has steadily marched outward. It is great if you live near it (like I do).

Not as quickly as the Google shuttle.

124   OO   2007 Apr 30, 10:01am  

CB,

make sure you pay the COBRA and transition into a Blueshield / Bluecross non-HMO plan. I have heard numerous cases of medical insurance rejection based on nitpicking, the rejection rate is high as 30% for all applicants. Stay in the system and don't ever fall off!

The US is good if you have a good medical insurance. If you don't want to work, you can still buy personal PPO insurance at around $200 pp for 40ish, and the insurance company by law cannot kick you out of the system as long as you keep paying your premium. It is not that bad. But once you fall off the train, it is just terrible. The US is the ultimate country for the haves and have-nots, you cannot get stuck in between.

Tsusiat,

China doesn't have a commie medical system any more. It is practicing the most fundamental form of capitalist medical system - no coverage for anyone except those retired commie officials. And get this, if you need to check into a hospital, you need to put in a deposit (usually USD5K or so) or rest assured you will NOT get treated. Many poor patients die waiting at the emergency room. I actually witnessed such an episode myself. The last thing I want happen to me is to get into an accident in China and knocked unconscious by myself alone, I don't think I will get treatment unless I tatoo'd my US passport on my forehead.

125   OO   2007 Apr 30, 10:11am  

I have a question for the wise crowd here. I'd appreciate it if someone can shed some light.

Why would a doctor stay off the preferred network of some big PPO plans? The reason why I asked was because my wife wants to change her obgyn so we asked our GP for referrals. He gave several names, but all of them are OFF the preferred network of our PPO plan, and when we checked them out, these doctors state on their websites clearly that they are NOT a part of any insurance network, but their credentials look very solid though.

Is it because they are so solid that they don't care about peons who prefer to stay within the network any more? What is the financial motivation? Do they get more upscale patients who don't really care about staying within the network so that they can fend off the rif-rafs?

126   Peter P   2007 Apr 30, 10:17am  

OO, have you read Robin Cook?

http://www.iblist.com/book50684.htm

127   cb   2007 Apr 30, 10:49am  

The US is good if you have a good medical insurance.

I play ice hockey every week, our team is usually a bunch of older (40's and 50's) and a few young players in their 30's. Our goalie is young and he kept him in our games most of the times.

One time he showed up and said he couldn't play, we thought he was hurt, turned out his health insurance ran out, he turned 24 or something like that and his father's insurance couldn't cover him. It took him a few weeks but there was no chance in hell that he would play hockey without health insurance.

128   MichaelAnderson   2007 Apr 30, 11:55am  

Jeff @ SDCIA...

I have been ill...

I can't sleep, I can't eat, when I do eat it comes up. This morning I started the day with a shower and threw up in the shower...(/i>

129   Brand165   2007 Apr 30, 11:55am  

WHAT THE HELL IS GOING ON HERE?!?

David Lereah, the false god of Realtwhores, the master bottom-caller, the most damaging pretend real estate economist himself RESIGNS from the NAR, and NOBODY has started a thread about it?!? Are you freaking kidding me?!?

I am drinking Italian wine because I don't have champagne. The rest of you housing bears better be out on the town sipping bubbly and cheering wildly. Ever since I read the article this morning, I've been waiting all day to see the patrick.net fireworks. Am I missing something, guys? I must be! Ya'll should be partying like 1999 right about now! :o

Ding dong, the witch is dead. Ding dong, the witch is dead!

130   Brand165   2007 Apr 30, 12:01pm  

Why would a doctor stay off the preferred network of some big PPO plans?

Let me guess, Aetna PPO? :) We have the same problem at work. The best doctors here don't want to deal with the paperwork avalanche. They choose not to waste hours on the phone with Aetna reps, losing physician time to haggling over procedure details with a ham-and-egger who probably doesn't even have a college degree. So the good doctors push the "out of network" paperwork on the patient. You pay the doc in cash or check, and get to file the paperwork yourself and then grapple with the Aetna trolls. Yay for ever-so-slightly cheaper healthcare vendors!

131   e   2007 Apr 30, 12:22pm  

The last thing I want happen to me is to get into an accident in China and knocked unconscious by myself alone, I don’t think I will get treatment unless I tatoo’d my US passport on my forehead.

Sounds like you'd be better off with a MasterCard necklace.

Interestingly enough though, there's a growing movement of Americans who want this type of policy so that we can ensure "illegals" don't waste our tax dollars.

It's an interesting problem with no easy solutions.

132   skibum   2007 Apr 30, 12:35pm  

Why would a doctor stay off the preferred network of some big PPO plans? The reason why I asked was because my wife wants to change her obgyn so we asked our GP for referrals.

OO,

I'm not so sure the paperwork issues are a big enough deal for doctors to shun any particular PPO. Most likely, it all comes down to...you guessed it...money. PPOs require member physicians and hospitals to provide their services at pre-negotiated and (of course) discounted rates. The return benefit for the doctor or hospital is increased business, as all members have to use doctors within the network (or face steep copays). However, certain PPOs have such crappy reimbursement that for doctors or practices that have plenty of business, they're better off excluding those plans.

Another possible issue with some of the practices you mention is that they may be one of the growing number of concierge medicine practices. These cater to the wealthy, accept no insurance, are fee-for-service, and charge an entry/enrollment fee which is very steep. This benefits both sides, as the patient gets very personalized care - MDs have their cell phones or pagers available directly to the patient, visits are not time-limited, care is very "customer-oriented." The MDs get benefits too - the financial equation works out better than for a "traditional" practice, the patient panel is much smaller so the MD feels less overwhelmed, and, the best part, the MD gets to take all the time he/she wants with each patient and get to know them, part of what drew a lot of people into medicine in the first place. The major downside is the lack of patient diversity. If you enjoyed helping poor and indigent, this obviously won't work for you.

133   LowlySmartRenter   2007 Apr 30, 1:36pm  

LIVE & WORK IN CANADA
FREE VISA ELIGIBILITY ASSESSMENT

http://www.immigrationexpert.com/register.asp?type=1

134   HARM   2007 Apr 30, 2:26pm  

Officials, however, are puzzled over the reason for illegal stay of nearly 10,000 nationals of developed countries. Even those who were deported during 2005 did not give a valid reason.

I can think of two reasons:

1) Avoiding the law back home
2) Can live like a king there on very little $USD

135   azrob   2007 Apr 30, 2:27pm  

I posted earlier bagging on canada, but i was only joking! I have only been to canada for 2 hours while connecting a flight to china. truth is I woke up got off the phoenix vancouver flight and thought, wtf? am i in china already? All I saw was chinese people. But when nobody pushed me or cut in line I realized I was in Canada!
I met a bunch of canadian girls living in an apartment near me in a small non touristy town in southern Mexico. Props to the canndadians, they will adventure right on off the map. None of them spoke a word of Spanish, so more credit to their adventure loving ways... I speak nearly fluent Spanish, so naturally I became their tour guide. I told all the mexican captain Ahab guys circling around these big white belugas that nobody was getting anywhere with my "sisters" without my approval. I was given so many margaritas by the friendly locals that I nearly died! Later on the girls gave a performance of the canadian anthem, then the locals sang the mexican anthem. It came to me, and for the life of me I couldn't remember the words to the american anthem, after oh jose can you see?... so I sang Guantamara instead. I am sure canada is fine... but woman wise, I am still voting for sweden, norway, finland or argentina...

but does anyone mind if i stitch a maple life on everything i own before I ride my bicycle across europe?

136   OO   2007 Apr 30, 2:46pm  

skibum, Brand, Peter P,

thanks for the enlightenment. I know I can always get an answer from here :-)

I think three doctors I checked out belonged to the concierge category because they made an effort to announce on their medical group's website that they are NOT on any insurance network.

137   azrob   2007 Apr 30, 3:31pm  

going to asia for 3 months next week, thailand maybe vietnam and indonesia... maybe china again i haven't decided yet

138   DaBoss   2007 Apr 30, 3:42pm  

WHAT THE HELL IS GOING ON HERE?!? Brand

The power of Blogs... I guess the prick couldnt take the heat
from DL Watch. LOL!

139   Jimbo   2007 Apr 30, 3:50pm  

Southern California is Prime!

http://tinyurl.com/28kar9

140   DaBoss   2007 Apr 30, 3:53pm  

Peter said...

The 1900 sq. ft. townhouses runs upwards of 850K.

Not completely unreasonable. That works out to less than $450 per sqft.

Well considering 2000 sq ft TH sold for underr 200K 10 years ago..
I guess there is a reasonable explaination to go from 200K to 850K in 10 years.
Heck I even recal TH in Sausolito for around 300K now 1.2M...

More people, booming economy, high salary, inbound jobs, goverment restrictions
and "they aint building more homes in the Bay Area.

What a nice FAT BUBBLE we have in the Bay Area.

141   cb   2007 Apr 30, 5:11pm  

Well considering 2000 sq ft TH sold for underr 200K 10 years ago..
I guess there is a reasonable explaination to go from 200K to 850K in 10 years.

I pulled the following from Zillow about the townhouses in Sunnyvale, closed to where I used to live (La Mesa Terrace). It's around 2100 sq.ft.
It's about 8% increase every year, of course it's high but I doubt you can get anything that's worth 850K now for 200K back then.

Sale History
02/13/2007: $692,000
06/25/1996: $303,000

142   e   2007 Apr 30, 5:48pm  

I pulled the following from Zillow about the townhouses in Sunnyvale, closed to where I used to live (La Mesa Terrace). It’s around 2100 sq.ft.
It’s about 8% increase every year, of course it’s high but I doubt you can get anything that’s worth 850K now for 200K back then.

Sunnyvale is very special now.

143   anonymous   2007 Apr 30, 10:34pm  

*unlurks*

I go away for a weekend in Italy and this thread appears before I can read it!

Don't buy in Vancouver. Expensive + global warming = under water...in more ways than one.

*relurks*

144   Michael Holliday   2007 May 1, 12:01am  

azrob Says:

I bike commute 13 miles each way every day here in phoenix. I go from tempe to scottsdale...
_____

I salute you!

The only thing is, the temperature is ramping up like crazy. Did you feel the heat and humidity on Saturday, before the dust storm? It was like 100 degrees F. and felt like the summer Monsoon had started early.

I live in the NW valley & can tell you that commuting 13 miles in the hot sun can cause heat exhaustion pretty quickly.

Good luck, you two-wheeled intellectual critter & soldier of the sun!

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