FSW WORLDWIDE

[ImpatientAlligator]

You know, the biggest trouble a lot of us (Indians) have here? The things that are broken need not be broken. They are broken for no good reason.

There should be no crisis of land prices in Canada. Its just barely 38 million souls on a massive piece of earth. Heck entire Canada can fit on Vancouver Island and live really comfortably. But still somehow they mess up even the simplest thing.

Or the PR Cards? There is no need for PR Cards. Countries like Australia are doing fine without one. The entire reason PR Cards exist because Canada has not yet realized that computers can talk to each other and they do not need a card to verify one's PR status.

The "landing" procedure for in-canada people that they fixed recently by that portal? It used to be so stupid that one needs to go to border to "land" as a PR. They found that they can do it over internet... duh... Because the pandemic hit.

Unlike back home, where there are 1.4 billion of us and there are no half way decent natural resources nor trained and educated man power, here I see why they have messed up thing that need not be messed up.

India is broken because it has problems that are so huge that in the history no one has solved them. Ever. Canada is broken for reason that simply do not exist. Thats a shame.

That is the reason why a lot us eventually get frustrated here.

True. All of these are fixable.

The Canadian govt is under the control of vested interests at a level that simply doesn't happen in the States. Big institutions like banks and telecoms are regulated so much that the barrier for entry is too much and these companies like that status quo. So, no Venmo/Splitwise, no Google Fi, etc.

Then there's real estate where property owners who again like the status quo of limited new housing to protect the big bubble. At least, things are getting slightly better in Toronto as opposed to Vancouver.

And then, add in the general aversion towards change and new technology by govt/big institutions just because they can get away with it.

 

[ElvisRamaj]

True. All of these are fixable.

The Canadian govt is under the control of vested interests at a level that simply doesn't happen in the States. Big institutions like banks and telecoms are regulated so much that the barrier for entry is too much and these companies like that status quo. So, no Venmo/Splitwise, no Google Fi, etc.

Then there's real estate where property owners who again like the status quo of limited new housing to protect the big bubble. At least, things are getting slightly better in Toronto as opposed to Vancouver.

And then, add in the general aversion towards change and new technology by govt/big institutions just because they can get away with it.

About the housing bubble, there is one all over the world, not just in Canada. Tell me one major city that is not experiencing a property bubble? None.

There are two simple reasons why that is happening, again all over the world:

1. Property taxes, especially residential. The taxes should be proportional to the property you own. A family owning one house is not in any way compared with a one owning two or twelve, so you tax them accordingly. One other simple thing that a lot of people seem to always miss: a property needs taking care of; so, its not just the taxes, its the painting, mowing, renovations and they are like a yearly subscription. Every property has a yearly maintanance fee.

2. Institutions snatching up residential property. This is a bubble creator and an absolute homeownership killer. I don't know who thought was a good idea to let companies legally own residencial homes or what is the short-term or long-term profitability from it, but they are massacring the market. One tiny example: BlackRock preparing a $50 Billion fund to grab homes the moment the market starts correcting itself. Unfortunately, this has started a phenomenon in the US and adopted by the world, like always, and if nothing happens to stop this in the US, nothing will stop it for the rest of the world. You can hate it or love, its how it will be for a long time. The US sets the pace and the world follows it. To make this happen you either need a "crazy" president like Donald Trump, who no-one can predict what he will do next, or something of a revolution from people themselves. Nothing else, not a chance.

You might argue that increasing interest rates will cool-off the bubble and it will of course, but it will absolutely hurt the people and not institutions. Everytime that happens, a lot of homes change hands and end up belonging to the companies.

 

[GandiBaat]

About the housing bubble, there is one all over the world, not just in Canada. Tell me one major city that is not experiencing a property bubble? None.

Why look at Calgary or Edmonton!

World wide Look at USA! And then see Canada... notice something weird?

One must remember that there is NO DEARTH of land in Canada of all places, so this "world wide real estate bubble" does not make sense at all! I mean if Alberta can do it, so should BC. If USA can keep housing prices low enough, Canada should not have any trouble!

Also remember, there is no big enough industry in Vancouver or BC for that matter.

 

[GandiBaat]

1. Property taxes, especially residential. The taxes should be proportional to the property you own. A family owning one house is not in any way compared with a one owning two or twelve, so you tax them accordingly. One other simple thing that a lot of people seem to always miss: a property needs taking care of; so, its not just the taxes, its the painting, mowing, renovations and they are like a yearly subscription. Every property has a yearly maintanance fee.

2. Institutions snatching up residential property. This is a bubble creator and an absolute homeownership killer. I don't know who thought was a good idea to let companies legally own residencial homes or what is the short-term or long-term profitability from it, but they are massacring the market. One tiny example: BlackRock preparing a $50 Billion fund to grab homes the moment the market starts correcting itself. Unfortunately, this has started a phenomenon in the US and adopted by the world, like always, and if nothing happens to stop this in the US, nothing will stop it for the rest of the world. You can hate it or love, its how it will be for a long time. The US sets the pace and the world follows it. To make this happen you either need a "crazy" president like Donald Trump, who no-one can predict what he will do next, or something of a revolution from people themselves. Nothing else, not a chance.

Both of them do not apply to Canada.

Institutions are NOT snatching up land or houses here. Biggest proof? house demand is extremely sensitive to interest rates. Mortgage rate go up, demands and sale go away. This is not the behaviour of cash rich institutional buyers. They will snatch up all the real estate during a down turn. Does not happen here.

 

[Lixa]

India is broken because it has problems that are so huge that in the history no one has solved them. Ever. Canada is broken for reason that simply do not exist. Thats a shame.

Yeah no relation between the government and systemic issues and the problems in India.

 

[GandiBaat]

You might argue that increasing interest rates will cool-off the bubble and it will of course, but it will absolutely hurt the people and not institutions. Everytime that happens, a lot of homes change hands and end up belonging to the companies.

Yes and no. And actually hurting people is good here. It will bring some sense in them. Right now all the money is going into real estate. Meaning, no money for real industry. Can you believe it? EVEN after 2 and a half year after pandemic Canada is not able to manfacture covid vaccines in the country. This country used to have a decent vaccine manufacturing capability.

Real estate is gobbling up the much precious capital. If you make houses 10 million a pop, you don't have much money left to make practically anything.

Yeah no relation between the government and systemic issues and the problems in India.

Name ONE democratic government that has solved water delivery problem for 1.4 billion people on the planet.
Name ONE democratic government of any kind that has delivered education to 1.4 billion people in 26 and more different languages.
Name ONE democratic country that has successfully run a court and judicial system for more than 1 billion people.
Name ONE democratic country that has successfully provided healthcare for 1.4 billion people with diverse genetic background as India.

The scale at which India needs to solve problems is unprecedented in the history of humanity. People outside engineering simply do not appreciate how scaling is among the hardest problem there is.

Try this:
Make food for yourself. Easy peasy japanese.
Make food for yourself and your spouse. Hmm... labour of love but doable.
Make food for family of four... Damn that a full time job.
Make food for a restaurant... you require a line chef kind of kitchen. Its a totally different system than making food in your kitchen.
Make food for a whole village... I do not know how they do it.
Make food for one entire province... Surely you must be joking Mr. Feynman.

Scale is everything. India exists on a scale that is unprecedented in human history. It is diverse on a scale that is not seen anywhere. Its problem have yet not even been studied and less likely to be solved. And it needs to be democratic republic.... Surely you must be joking Mr. Feynman.

 

[ElvisRamaj]

Both of them do not apply to Canada.

Institutions are NOT snatching up land or houses here. Biggest proof? house demand is extremely sensitive to interest rates. Mortgage rate go up, demands and sale go away. This is not the behaviour of cash rich institutional buyers. They will snatch up all the real estate during a down turn. Does not happen here.

Hmm, lets get somethings clear first:

- Affordability has nothing to do with a bubble. Bubble is refered to the true value of things, in this case homes. Example: Real value of home is 100K, but in the market is 250k. Thats what you call a bubble. You can afford to buy it at 250k, but that has nothing to do with the real value.

One example of companies snatching up homes in Canada, just for you :
https://www.cbc.ca/news/canada/london/toronto-developer-buying-homes-anti-poverty-group-1.6066903

An anti-poverty group is calling a Toronto-based developer's plan to buy $1 billion worth of single-family homes and turn them into rental properties a "frightening" example of how even more people will be priced out of an increasingly expensive housing market.

The plan, reported by the Globe and Mail on Monday, would see Core Development Group build a single-family home rental business by buying housing stock in medium-sized cities across Ontario, including London, Kingston, Hamilton, Barrie, Cambridge, Peterborough, Guelph and St. Catharines.

The developer wants to expand its footprint outside the province by 2026, to eventually build a fleet of 4,000 rental units in Ontario, B.C., Quebec and Atlantic Canada.

 

[GandiBaat]

- Affordability has nothing to do with a bubble. Bubble is refered to the true value of things, in this case homes. Example: Real value of home is 100K, but in the market is 250k. Thats what you call a bubble. You can afford to buy it at 250k, but that has nothing to do with the real value.

A basic question :
How do you find the "true value" of home?

 

[Lixa]

Yes and no. And actually hurting people is good here. It will bring some sense in them. Right now all the money is going into real estate. Meaning, no money for real industry. Can you believe it? EVEN after 2 and a half year after pandemic Canada is not able to manfacture covid vaccines in the country. This country used to have a decent vaccine manufacturing capability.

Real estate is gobbling up the much precious capital. If you make houses 10 million a pop, you don't have much money left to make practically anything.


Name ONE democratic government that has solved water delivery problem for 1.4 billion people on the planet.
Name ONE democratic government of any kind that has delivered education to 1.4 billion people in 26 and more different languages.
Name ONE democratic country that has successfully run a court and judicial system for more than 1 billion people.
Name ONE democratic country that has successfully provided healthcare for 1.4 billion people with diverse genetic background as India.

The scale at which India needs to solve problems is unprecedented in the history of humanity. People outside engineering simply do not appreciate how scaling is among the hardest problem there is.

Try this:
Make food for yourself. Easy peasy japanese.
Make food for yourself and your spouse. Hmm... labour of love but doable.
Make food for family of four... Damn that a full time job.
Make food for a restaurant... you require a line chef kind of kitchen. Its a totally different system than making food in your kitchen.
Make food for a whole village... I do not know how they do it.
Make food for one entire province... Surely you must be joking Mr. Feynman.

Scale is everything. India exists on a scale that is unprecedented in human history. It is diverse on a scale that is not seen anywhere. Its problem have yet not even been studied and less likely to be solved. And it needs to be democratic republic.... Surely you must be joking Mr. Feynman.

I don't have time nor energy for it but you did the same thing as your previous analysis on real estate. You just pick two informations making your point and forgot all the others things... Not a very objective way to go.

 

[ElvisRamaj]

A basic question :
How do you find the "true value" of home?

Price of land for the last 15 years + factoring inflation + the cost of building the home as it is right now.

 

[GandiBaat]

I don't have time nor energy for it but you did the same thing as your previous analysis on real estate. You just pick two informations making your point and forgot all the others things... Not a very objective way to go.

As I said before, people usually underestimate scale. Its ironic.

 

[GandiBaat]

Average price of land for the last 15 year + factoring inflation + the cost of building the home as it is right now.

So we are deriving real value of a house using market value over a 15 year period and current market cost of labour and material used for constructing a house? How is "real value" different than market cost? To me it seems that you are deriving "real value" as averaged land market value mainly. Then how is real value different than market price?

I say "real value" is what your population is ready to part with for living in the house. If no one wants to live in the house or that land, does it have any real value?

Housing value is intricately linked to people willing to live there. In other words, housing value has a very direct connection with affordability.

When housing price get delinked with real value OR affordability, you get a bubble.

An extreme example is China's ghost towns. Towns created for purely store of money. They have no economy, no people living there. Its a massive bubble and ponzi scheme. Some believe it is unraveling lately. We will see how it goes.

 

[somenath1061]

Can anybody suggest a real estate website possibly tried and tested to find out decent places to stay in vancouver? The rents looks crazy though thorough out the internet.

 

[GandiBaat]

Can anybody suggest a real estate website possibly tried and tested to find out decent places to stay in vancouver? The rents looks crazy though thorough out the internet.

padmapper, criagslist.

Go to websites of major property management companies like devon, proline, brown brothers etc. They list vacant properties under their management.

Be careful in renting places from strangers a bit.. In no case make any payment using cash. Always pay using crossed / account payee cheque.

 

[Choupi]

Hiii guys
Regarding the post ITA forms i have few questions . Please advise
Looong post ..sorry
* How Can we disclose internship related to studies ? In which section ? 2 different lines that overlap are fine ?
For exple: I was a student from sept 2010 to August 2011 , but also had an internship from march2011 to August .

* How Can we disclose a visit to the family of 2 months ? In which section (s)?

* what about visits from country of residence to country of origin ? I Can declare most of them but not all (LOE IS fine ? Or there IS absolutely no need to mention all of them ?)

* My husband overstayed in France for 6 months ... We have mentionned thz period as unemployment ...but how Can we disclose the overstay ?

* I was living in France and traveled a loooooot in Europe . I cannot remember all of them ... Some were by car without ticket . How Can i mention that ?

Thank you very much for your kind help