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Is it time to buy Canadian real estate?


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2007 Apr 29, 2:44pm   20,082 views  150 comments

by Patrick   ➕follow (59)   💰tip   ignore  

Canuk flag

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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82   e   2007 Apr 30, 6:33am  

It really begs the question, who the f&ck buys crap like that? For 600k-800k, why would you want to live there?

IMHO, Daly City runs neck and neck with Redwood City as "worst houses" on the market.

83   DinOR   2007 Apr 30, 6:46am  

In all fairness Tony Snow had some health issues I sure hope none of us have to go through.

The psychological impact of having "Lie-reah" getting the boot has GOT to be damaging to just about everyone REIC related!

"If this darn doom and gloom media would lay off it then things could "get back to normal" just like DL has promised us!"

Oops!

Virtually anyone installed in his place will HAVE to be more factual and truthful. And did you get a load of the outfit he was finally able to land a job at? Move.com? WhoTF is that? Not GS that's for sure!

84   requiem   2007 Apr 30, 6:51am  

They actually have to get in front of parliament once a week and answer direct questions.

Ok, but wouldn't their words have a bit mroe weight if it was the head of government instead?

85   requiem   2007 Apr 30, 6:51am  

RE: heads of states answering to parliaments

Ok, but wouldn't their words have a bit more weight if it was the head of government instead?

86   e   2007 Apr 30, 6:54am  

Virtually anyone installed in his place will HAVE to be more factual and truthful.

I hear this guy's available:

http://en.wikipedia.org/wiki/Mohammed_Saeed_al-Sahaf

87   tsusiat   2007 Apr 30, 6:59am  

Astrid -

if you can understand flocons de mais, you have progressed to cereal box bilinualism. That is a good start.

88   skibum   2007 Apr 30, 7:08am  

Okay, so it's fine that Learah is leaving the NAR and the mess they made in the RE market. But it's another thing to see crap like this from the article about his departure:

http://money.cnn.com/2007/04/30/news/newsmakers/bc.usa.subprime.lereah.reut/index.htm?postversion=2007043016

Blanche Evans, the editor of Realty Times, an online magazine for real estate professionals, said Lereah's outlook for the market is a reflection of his sunny disposition.

"That is part of his personality. He is one of the most bright and energetic people but that does not mean that he's a Pollyanna," said Evans, author of "Bubbles, Booms and Busts: Make Money in ANY Real Estate Market."

So Blanche (douchebag), as an ECONOMIST, his ECONOMIC analyses and predictions should all just be chalked up to being a happy-go-lucky guy? That's just great! Can we chalk up bin Laden's rage to having too much starch in his tighty-whities? C'mon, give me a break you douchebag!

89   DinOR   2007 Apr 30, 7:23am  

"but that does not mean he's a Pollyanna"

No.... I wouldn't say Pollyanna. Worse than a useless j@rk-off he's dangerously stupid, but no.. definitely not Pollyanna.

90   DinOR   2007 Apr 30, 7:26am  

SQT,

Congrats! Last summer I gave mine to my nephew (at 17 he's actually taller) so I'll need a new one this summer.

91   astrid   2007 Apr 30, 7:35am  

tsusiat,

I really did want to learn French. In fact, I took Intro to French twice, but couldn't advanced to French II.

Thank God(s) IB accepted Chinese as a foreign language!

92   skibum   2007 Apr 30, 7:41am  

More Bay Area retarded NIMBYism:

http://www.mercurynews.com/breakingnews/ci_5785731?nclick_check=1

A battle over the fate of a large piece of Bayfront property is brewing, even though the city has received no formal proposal yet for the land.
For the past year, Cargill Salt has been conducting a community outreach program seeking residents' ideas of what to do with its 1,433-acre property where the company plans to phase out its industrial plant over the next few years.

In recent weeks, the environmental advocacy group Friends of Redwood City has launched its own outreach effort, encouraging residents to tell their elected leaders to maintain the land as open space and not turn it into commercial and residential development.

"We feel it should continue to be for natural and industrial uses," Friends member Cathy Moyer said Thursday.

...This is an opportunity for our generation to leave a legacy for future residents of Redwood City to experience the beauty of open spaces and wildlife," he wrote.

Notice how it's okay to use the land for "natural and industrial" uses, but not RESIDENTIAL use. Now isn't that just more BS, let's stop RESIDENTIAL development to keep property values up?

Also, what the f%ck "beauty of open spaces" is there in that part of the Bay? Last I checked, it's just industrial wasteland east of 101, with a view of concrete and the East Bay. I say let them build another Foster City there. Damn NIMBY-losers.

93   tsusiat   2007 Apr 30, 7:41am  

Astrid -

In Vancouver, maybe Mandarin would be more useful anyway....

94   cb   2007 Apr 30, 7:45am  

I really did want to learn French. In fact, I took Intro to French twice, but couldn’t advanced to French II.

Most of my friends in Ontario that has 10-12 years of French from grade school to high school could not carry a conversation in French.

We are thinking about moving to Vancouver, not because the BA has expensive housing, horrible public transportation, or terrible public schools. But because of the lack of good and reasonably priced Cantonese food! (Just to wait an hour to get into Koi Palace is a joke, the cheaper places are usually horrible.)

95   StuckInBA   2007 Apr 30, 7:46am  

I must say that DL learned something from Greenspan. Make a mess and leave it for someone to clean up. At the same time get paid in dollars, adulation etc to do so.

And here I am, trying to figure out the best design so that people who come after me will not have code maintenance issues. No wonder I don't get paid as much.

96   DinOR   2007 Apr 30, 7:50am  

HARM,

FWIW Ben ran a thread on Sunday on Spinning Sound Solutions to the HB and remarkably there was a great consensus on MID/CG exemption! True a few dismissed/defended these sacred cows but were soundly thrashed/de-bunked. If you've time, well worth the read.

97   LowlySmartRenter   2007 Apr 30, 8:05am  

My commute consists of about 20 steps to my office at home. Working at home is the way to go. Why don't more BA employers offer that? Are they afraid people won't do the work?

98   LowlySmartRenter   2007 Apr 30, 8:07am  

Maybe they're afraid we'll just blog all day?

99   Paul189   2007 Apr 30, 8:08am  

Better to have Loonies than USPs (US Pesos). I predict a return to pre WWII levels for the Loonie. It takes 2 USPs to get 1 Loonie!

100   requiem   2007 Apr 30, 8:12am  

StuckInBA: You have lost The Way; I suggest a re-reading of the "Quotes of the Klingon Programmer".

This morning, 101S to the 92 was absolutely packed at almost 10am. From what I could see in my mirror, the 92 overcrossing also looked fugly. For working from home, I can see it in some cases, but not for when I need to interact with people.

OTOH, if work was willing to provide me a videoconferencing setup with a 50" TV in my end and a robot w/ camera and mike on their end, then I'd do it more.

101   HARM   2007 Apr 30, 8:39am  

DinOR,

Thanks, I'll check it out. Sad to hear about the 'ol LiarRealtor deserting his post like that. What's up, I wonder?

Theory #1: Caught in one too many lies? Not possible --the NAR only cares when its Chief Minister of Propaganda doesn't lie. The bigger the whopper, the better.

Theory #2: Cannot handle DavidLereahwatch.com breaking his poor mother's heart. Not likely. He loves the opportunity it gave him to publicly play "victim". It's also not clear whether he or his mom actually has a heart to break.

Theory #3: Wants to "spend more time with his family". The ultimate non-reason for people who are leaving their jobs for reasons they cannot discuss publicly. In any case, if DL was your dad, would you really want to spend more time with him? I rest my case.

Theory #4: Rat leaving a sinking ship / taking the last lifeboat off the Titanic. Bingo --this one's my choice. Also notice how Greedspan passed the "baton" (lit dynamite stick) to HeliBen conveniently just before the housing bubble completely ran out of juice. So who wants to be the new NAR "Baghdad Bob" in the teeth of a secular bear market? Anyone, anyone... Bueller...?

102   OO   2007 Apr 30, 8:45am  

I am not sure if the effect of global warming is all linear and predictable with a simple weather pattern shift.

You'd assume that most of Australia lying in the sub-tropical and temperate zone to get warmer? Well no, my parents told me that northeastern Australia (which is closer to the equator) is getting cooler, and drier compared to before. They haven't seen a drop of rain for a long time. Queenslanders worry about getting killed by thirst before intense heat waves. Melbourne, which is in the temperate zone, had a summer snow last year.

BA's 06 summer was sure hot, but we are having a cooloer-than-usual spring here as well. 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.

103   cb   2007 Apr 30, 8:49am  

Driver who crashed in Oakland involved in previous hit-and-run crashes.

You would think they do a background truck for people who drives gasoline turcks, this guy is quite decorated.

http://www.mercurynews.com/ci_5786459

104   OO   2007 Apr 30, 8:49am  

CB,

is Sun Sui Wah still the place to go in Richmond BC? Where do you go for good Cantonese food up there?

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.

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.

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