“The slums money makes are far more depressing and disgusting than the ones the absence of money creates.”

“I’ve made it a rule of life never to dislike people simply for what they have — dismissing them for being rich is as unpleasantly irrational as dismissing them for being poor. Neither wealth nor poverty have innate characters; they are both prone to their own turpitudes. But over years of travelling, I’ve discovered the contrary truth that the slums money makes are far more depressing and disgusting than the ones the absence of money creates. And Berkeley Street is a self-made money slum.
I also believe restaurants are a force for good. Nothing polices a street like a neighbourhood bistro, or evokes community and civic pride as a theatre of free assembly. They are society’s social workers, its romance, guidance and business advisers. But it is an incontrovertible truth that the tasteless stew of Berkeley Street has been created by restaurants.
There’s Novikov, with its oriental and Italian kitchens and meat-rack bar; and Nobu, which has gone from being one of the earliest fusion restaurants into an embarrassing playground of entitled youth and socially hapless sportsmen. Then there’s the newly opened Sexy Fish — packed and, as anecdotal gossip has it, with an average table spend north of £1,000. Most recently, Alan Yau has opened his long-anticipated, turgidly gestated restaurant.
As we walked down the road towards it, there was the honk of imperviously parked Mercedes, blacked-out Range Rovers and furious cabbies. The pavement is thronged with manically smiling young women who, while not actually prostitutes, have the look down pat, with smartly streamlined faces and angry mouths, sucking the life out of cigarettes, black eyes sliding over the ranks of young, stateless men dressed in awkward collections of branded expense, guarded and manoeuvred by platoons of doormen, bouncers, bodyguards and muscled maître d’s.”

– from AA Gill reviews Park Chinois, Mayfair W1, Sunday Times UK, 10 Jan 2016

74 responses to ““The slums money makes are far more depressing and disgusting than the ones the absence of money creates.”

  1. Money slum is very definitely a first world problem that a lot of people would want to have, as opposed to actual slums.

    • rod_jonsson_pmd

      point is a money slum is all fake … while the other variety though depressing, is at least honest … where all the money is you typically find the very worst in people

  2. Pertinent piece re: the social deterioration of Vancouver, secondary to the housing bubble. And wonderful use of language… “stateless men dressed in awkward collections of branded expense…”

    • Again, first world problems….unless you like living next to drug addicts, street whores in the East Hastings area.

      • Actually not limited to first-world at all. The monied elites in developing countries are even more noxious.

  3. The very words Gill uses – “to dismiss the rich” – as though they were the very slaves they themselves are used to dismissing. Absurd. Not only do the rich want to make you their bitch, they also demand your respect and adulation. How dare you blaspheme the rich.
    Gill, BTW, makes over 500K/yr. His previous wife was a VC; employee of the lovely J.P. Morgan, and is now a MP. He knows which side of the bread is his butter.
    Why should there be slums? There would be abundance for all if not for these Greedy Pigs – not to disparage pigs.

    • rod_jonsson_pmd

      must restore symmetry to comments … well, you’re just labeling people now – tsk-tsk-tsk … it’s power actually, not money … look it it up – some dude wrote a whole fantasy ring saga about it

  4. Money fuels power. Tsk, tsking is unseemly.

    • rod_jonsson_pmd

      yes and yes … lost in translation -> not all are affected equally … it is its own affliction … but even for those who may remain untouched, has tendency to foul up kids and relations beyond measure

  5. I don’t like to use the word elite – makes these turkeys sound special – like Sun King Louis Quatorze; that masive piece of excrement. Better to use terms like economic despots, rapacious rulers, monied tyrants.
    The King of Swaziland is a fascinating fatty – has maidens dance naked in front of him until he picks one – a sort of foreplay, I presume. Found that out when I bought a pair of Rocas and saw they were made there.
    Holiness, excellence, exalted one, holy father, emperor, tsar, billionaires, oligarchs, plutocrats, aristocrats, dukes, duchesses, Lord Felon Black, plantation owner, Greedy Pigs … so many labels.

    • You cut too narrow a swathe. It’s not just royalty, it’s many members of the broader upper class, and even upper-middle class, who exhibit such traits of shallowness, presumption, etc. My personal experience being in Latin America, I dare say that the nouveau riche are even more off-putting. These are people who have tasted scarcity, and who now mistake themselves for a superior class of citizen, turning their noses up at the disdainful “masses” from which they emerged, and embracing a gaudiness that, seemingly unbeknownst to them, reveals them instantly for the posers that they are.

  6. Free advice: just ignore them

  7. A friend who works at a Vancouver public post secondary institution recently shared that the foreign student enrolment numbers this year are shocking. There has been a steady, marked increase over the past decade but huge emphasis now on bringing in cash and foreign students pay a lot more tuition than Canadian ones. And this is happening apparently at all post secondary in Van. Overwhelmingly from Asia and often paying their tuition with big wads of cash. Lots of shiny cars in the parking lots too. I think it’s impossible not to consider how this demographic change could be influencing the housing market.

    • Royce McCutcheon

      @terminalcitygirl: Please contact Kathy Tomlinson at the Globe and Mail about this (ktomlinson@globeandmail.com). She is reporting at a fairly high profile right now on drivers of lower mainland real estate prices. Reporting on this would be very timely.

  8. It occurred to me, reading The Secret History of the American Empire by the brilliant John Perkins, author of Confessions of an Economic Hitman, that the best way to understand the IMF and World Bank is to think of them as uber predatory credit card companies. They want to suck people in and then charge 20% + interest. If people don’t pay up, they will use their collection agencies, like the CIA (known in Central America as the Cocaine Importing Agency, to take everything – oil, water, land – all the resources, and turn the citizens into indentured servants (slaves).
    Thumbs up to some of these Latin American countries that are standing up to the economic bullies – esp. to Ecuador for providing sanctuary to Julian Assange at their embassy in London. Thumbs down to Columbia – bitch of the power mongers.
    It has also occurred to me to be suspicious of the police and fire games. What better, seemingly innocuous way, to impose a New World Order than to send in a global, essentially military force – to get to know the terrain. 16,000 of them did their thing in New York. In Vancouver, these gonads were everywhere. Chengdu is coming up soon. That is a powerful strategic location.

    • And yet, according to Brian, we should consult realtors for impartial market information. What a hoax.

    • Yeah.. let’s not ask the people who actually do know the buyers and sellers in the market but rather ask someone who isn’t even in this city and have about zero clue who they are. What, next you are going to say all realtors are evil and greedy? Do you even know New Coast Realty and what they do? Cause unlike you, I actually do know this stuff. Not everyone is like them, let’s just leave it at that. There are a lot of very good and honest realtors out there so let’s try not painting them all with the same brush. But, what do you expect from someone who can only look at things in the macro sense; it’s pretty hard to focus on specific cases when you don’t even bother diving deep into this market.

      • Brian, you are talking out of your a**, as usual. First of all, I was born and raised in Vancouver (West Point Grey — a name which no doubt gives you a real estate boner). Lived in various parts of the city for 30 years. Went to school there. Worked there. Knew the mayor and city planners on a personal level. Rented. Owned. Dealt with realtors. I know a number of them personally. In fact, some are family. In short, my knowledge of the city is every bit as deep as yours. But, unlike you, I also possess a knowledge of finance, economics, and history.

        The fact that I’m not living in town at the moment is totally irrelevant to the discussion. Calling me out for that just shows how lame your argument is. If anything it gives me a more-objective perspective.

        Fact is, the real estate industry in Canada, and especially in Vancouver, is opaque and schemy. Sure, there are honest realtors. But many are borderline. This article highlights the speculation and opacity that are rampant today. The fact that you are not disturbed by this is very telling. Either you are not smart enough to see it for what it is (a house of cards), or you are part of the problem. I’m guessing both.

      • Ok, translation. You “knew” the mayor, city planners, etc. When was that? 1995? Yeah… so Vancouver is still the same Vancouver now as that time? Question for you, how have the demographics in Vancouver changed since then? I left China in 1993, do you see me commenting that Beijing Real Estate is overpriced, underpriced, etc? Yeah sure, you not being here has no relevance to this discussion. That’s cute. I go back to China often too to visit. But you don’t see me commenting on their fundamentals because guess what, I don’t know shit compared to the locals who live there.

        So in your opinion, the majority of realtors are greedy bastards, is that it? How many of them do you know in Vancouver? So.. one realty company is bad and let’s just paint them all bad. I have quite a few agent friends, more of them are good than bad. New Coast is a bunch of scumbags, no one would argue that, even the agents themselves tell me this. But to say that everyone is like New Coast is like saying all Americans are like Trump.

        Does the industry need better oversight, sure. No one would argue that point because it is a currently self regulating industry which is probably not ideal. But to say that most agents in engage in this behavior is a bit outlandish especially considering that New Coast wasn’t even that big of a deal in Vancouver until about a year ago.

        Also, when you say this is a problem. Is it a justice issue? Absolutely. But how is this a market value issue? The way you get prices to go higher is by listing the house and then getting a ton of people to bid on it. You do not drive prices u by selling something that no one can bid on other than a few people. This is basic economics. The more buyers the higher the price. If anything, the issue I would have is that only the Chinese have access to this assignment market. Usually the values that you get in this market is probably still lower than the actual market value if it was listed openly. Something that has 18 people bidding on it are likely to go higher than something that has 1 person. I don’t see how this assignment market drives market prices higher. Unless people are complaining it takes supply away from locals, which is again more of a justice issue.

      • Brian, when will you realize that realtors (aka Used House Salesmen) are NOT analysts? They are not equipped to impart investment advice. They are not trained in finance or economics, and they can’t predict the future any better than you or me. Not only that, they have a vested interest talking up the market and generating transactions. That’s how their bread is buttered. When has a salesperson ever said, “You know what, why don’t you hold off from making that purchase?”. They’d be out of business tomorrow! All they want is buying and selling to occur, so they can collect commission. Same with stock brokers. They don’t know squat! They have a few talking points… just enough to get the average joe to transact. Seriously, dude, wake up.

      • When did I say that they are analysts based on investment principles? All I have ever maintained is that they know who is buying and who is selling which is a vital cog that feeds into my analysis. I take that information and analyze it myself. I need their database to know who is doing what. Yes, they are basically used house sales man. I get that. I am saying not all of them are dishonest. Do they have the ability to analyze investments? Most of them do not. Look, I am not here to defend what New Coast did. Most people hate them, including most realtors. I know a few realtors personally who would pay to have them publically drawn and quartered. But I have a real problem with painting them all with the same brush because those that I associate myself with do not act in the way this article says.

      • Whether or not real estate agents are good or bad is irrelevant. The issue is that they are largely an absurdly expensive excrescence on a transaction. And, good or bad, they are tricky dickies – trained to be tricky – coached to be tricky; members of the Royal Order of Fleece ’em and Burn ’em.
        Same can be said for stock brokers and “financial planners” (99% of the time these maggots are life insurance agents). If you make money, they make money off you. If you don’t make money, they still make money. If you lose money – guess what – they’re still smiling. If you buy “life insurance”, you deserve to be fleeced. If ifs and nuts were candy and nuts …

  9. The Globe reporter calls assignments obscure. She has evidently been living under a rock.
    Trustworthy real estate agent is an oxymoron. A double (dual) agent is a double indemnity. A double agent with an assignment is a revenue machine. Big money = big bullshit.
    Oracle founder Ellison, according to co-founder Scott said: “we can’t be successful unless we lie to people”.
    Should the real estate market continue caveat emptor? Or should people educate themselves about the biggest transaction of their lives – selling their family home.
    How do we clip the wings of the real estate vultures? Can we eliminate the arrogant preening monkeys in the middle?
    I think properties should be sold by sealed bid – just like government property – any or all bids rejected. This could be combined with an Air B&B model where serious applicants could test drive the home.

    • I am pretty sure New Coast will have a law suit on their hands soon. There is two issues at play in the globe and mail report. First issue is the fact that agents lowballed sellers. That in itself is against the rules that most agents operate on because they apparently have fiduciary duty in this case; at the very least the BC Board has to look at this because you can’t argue they acted in the best interest of the clients. The second issue is the 6 monthes completion dates. Again, unless you can argue why this is in the best interest of the seller it is a hard sell in front of a judge.

      Now onto assignments. If you bought a place in good faith and everyone acted honestly and the sell was done for market value at the time, why can you not assign the contract if the market went up before completion. The seller got full market value at the time. If the market went up, then the market went up. If the market went down, it’s not like the buyer could back out of the contract. So I don’t see an issue. I do see an issue with the agents acting dishonestly and not having the client’s best interest in mind. But if a seller got fair market value at the specific time, then whatever happens after that time shouldn’t be a problem.

      • The great thing here is people selling their multimillion dollar assets without spending a couple of thousand on a lawyer who would have certainly insisted on putting in a reassignment clause in the contract. Who am I supposed to be outraged about here: greedy shrewd Realtors or greedy dumbass sellers?

      • The word “if” has only two letters, but it is a gargantuan word – check the number of proverbs using this powerful construct. In your paragraph on assignments, you use “if” five times.
        It is part of a hard sell technique.

      • Hi Brian,
        The problem with the assignment in this case is that it is the fiduciary duty of the real estate sales person to disclose completely the remuneration he or she makes out of the deal and it is the right of the seller to decide if they want to take the excess remuneration or let the sales person have it. So firstly it is a breach of fiduciary duty of the seller’s sales person. On the other side as I understand from the globe article, there are many assignments before the final closing and the sales person is getting commission. Was tax paid on this commission? would the seller be ok with losing out on that potential income? You say if the market went down can the buyer back out? No the buyer cannot because they have entered into a contract to buy.

        Second point, as a buyers real estate sales person, it is a breach of fiduciary duty to the buyer because the ultimate buyer has paid the highest price and probably would not pay such a price if he/she knew the original sales price. So it seems that the sales person has breached the fiduciary duty to the seller too.

        Finally, if it is found that taxes were not paid on the multiple dibs of commissions and as alleged in the Globe and Mail article if Fintrac documents were filled to mislead, then it is an even bigger offence.

        This behaviour spoils the market for the good Realtors and needs to be checked right away. It is surprising that we need such a hue and cry for authorities to do their job.

      • If aliens came and ate 90% of the real estate agents, no would notice.

      • Hey Raj, well said. I do agree with you on this bit. The fiduciary duty part is pretty obvious. The issue I have is people who says assignments jack up prices. I simply don’t see the connection. If you want to jack up the price of an asset, you would want it marketed widely, not just to a specific group of people or a subset of people. Assignments are used to restrict the buyers to a certain group whereby these agents can get their maximum profit. But the real losers are the sellers as they probably didn’t get market value initially.

      • I think what you’re missing is the idea that the market is going up specifically because of these sorts of tactics. Especially given the changes over the past decade in the way data is collected and reported by the real estate boards, manipulation of the market by realtors in their interests ( not their clients) is clearly a significant price driver. And while it may not technically be illegal, it should be. It certainly isn’t morally defensible.

      • @TCG, can you please clarify how these methods, assignment in particular, drive up the market. Any property at anytime has the best chance to maximize its price through a MLS sale whereby everyone can see it.

        http://www.theglobeandmail.com/opinion/editorials/dont-blame-the-flipping-realtors-for-vancouvers-super-hot-housing-market/article28744045/

        This article actually gets it. I agree that this tactic is unethical and btw in some cases it is actually illegal due to the fiduciary duties of an agent. But I fail to see how an asset marketed to a particular group can be driven higher than an asset that reaches a bigger group.

        Btw, for anyone who wants the market to keep on going, I would highly suggest focusing on this type of illegal activity. Because this is the perfect misdirection play that the government is looking for. The government clearly has no interest in dropping this market, there is a lot of anger towards the unaffordability. They have to do something about it. Hey, let’s lynch some agents who engaged in unethical behavior to quell the anger. Never mind that foreign capital is still flowing in, we sure nailed those damn agents.

      • What a steaming pile from the Real Estate Cartel of BC. Reminds one of the caca from the BC Fenestration of Teachers – just window dressing – a gentle admonition to its beloved clients to not pee in the cash pool.

      • Others find it as alluring as VSE; however with two dead bodies retrieved from parked cars to date, it is better than missing persons for decades.

  10. What is the declension of fiduciary? Foodouchery? Fauxdouchery.
    Remember Siddhartha – the Buddha guy – trust no one, not even me.
    Trust the Real Estate Board? The fox on the chicken house? Too busy eating chickens. Penalize that impetuous agent! One week, no, two weeks off. You contemplate and spend some of that commission cash. Bad boy. Bad girl.

  11. Take the meddlers to court? Odds are, if you’ve just sold your family home, you’re in the death zone. Is this how you want to spend your remaining years? Pursuing smiley con artists? Maybe your kin can collect a few bucks.
    Again, Neil Jenman has great insight into this venal industry – there’s just an hour or so on YouTube. Wish there was more.

  12. A couple of years ago a friend sold his house in White Rock and uprooted with his wife and three kids to the Interior – said he couldn’t afford the mortgage. But they always had a big dog.
    A dog, big or small, is going to cost you 15-20K over its life span. Having gone through two dogs cost them well over 30K. With that cash they could have kept there home long enough to achieve a sale price of probably 250K extra. Those dogs cost big.
    Someone out there should start a dog rental business using the car share model. Rent a Frenchie, or a Dachshund; take it back when you’re done. Share the love. Share the costs.

    • You think dogs are bad, try having kids.

      • Dogs are not bad – they’re great – often better companions than people. But, when you own a dog – you are stuck on the other end of that leash. You have a paid for companion that stays at the intellectual development of a two year old child.
        We already have a de facto dog rental service in the form of the SPCA – paid for by tax dollars. You can go there and walk one of their funky dumped dogs – the usual suspects – puppy mill purchases. The odds of you finding a Frenchy, or an English Bull, or a Springer Spaniel, or an Irish Terrier, or … are slim to none. It’s the food bank spectrum of doggiedom – canned food; no veggies.
        Yes, there are instances of extraordinary “rescue” dogs that make dog people puff up with pride, but wouldn’t it be great if the SPCA didn’t exist. The head of the SPCA makes in the neighborhood of $150,000./year. That’s obscene.
        Having a dog share program would carve out a niche where people horny for a dog could have their needs taken care of without the 15 year commitment and concomitant estimated 8,000 non-ecological bags of poop, food bills, vet bills, kennels …
        Some entrepreneur will work out the numbers. It will happen.

  13. Amazing how high profile agents drop off the map. There was one who used to farm East Van: “Big Hair” Vrba. She was everywhere. Huge ads. Then nothing. Made her bucks and good riddance everybody.
    People wonder why agents use an entity called a P.R.E.C. It’s pronounced prick. It’s a corporate condom. No way they’re getting caught with a dose of lawsuit.

  14. HK house prices dropped 10% in 2015, and some analysts expect a further drop of up to 25%.
    Same scenario in Macau, down by as much as 20% – 40%. (source: estate.caijing.com.cn – no English version)
    http://tinyurl.com/zkkvce2
    http://tinyurl.com/go7qgcg

  15. That big hope of rate hikes & bond yield increase is becoming increasing unlikely. Instead, rate cuts by FOMC and NIRP is becoming increasing likely.

    http://www.zerohedge.com/news/2016-02-11/what-central-bank-failure-looks-part-3

  16. The East Van Real Estate Weekly is so thin it’s anorexic – virtually nothing for sale. The MacIntosh “”Team” has been running sold ads forever, hoping to hook a list. There’s a 3/4 page of mugshots of the Park Georgia Realty “Leaders”. No listings. Flakka Flockhart is highlighted as a “Top Producer”. … Top of the dung heap – a completely irrelevant sincerely smiling steaming pile. List with you turkeys? Give you a fat commission? So you can run those stupid ads? Drive your fancy cars. F. U. all you sapphire and emerald club turds. We’re not “in the market for Excellence”. Was it your precious stone digging president that pulled that line out of his ass? It would be more accurate to have “Top Turd”, “Hot Squishy”, and “Oops, Feels Like a Fart”.

    • Really? Signs popping up all over the west side.

      • We notice signs because we travel on busy streets. Is the west side REW fat with quality offerings (quiet streets) where agents have to part with real cash for ads, rather than the free self promotion that comes from sticking a sign in someone’s yard? Busy streets are advertising gold for agents. Terry Eng had a sign outside a property at the hideous corner of Boundary and 22nd for a very long time that would have garnered hundreds of thousands of eyeball impressions. That would have cost a small fortune in paid advertising. Selling the house is almost secondary – a bonus.
        And, maybe Eastsiders, never having seen such a ratcheting up of values, are leery of killing the golden goose.
        There is definitely flipping going on here. 3005 E 27th bumped over 200K in just one month – no improvements whatsoever.

      • I’m not sure the traditional categories apply. For today’s buyer in Vancouver, a “quality offering” may well be one on a busy street with potential for future densification. Who cares if it’s quiet or not? It’s not like they’re going to live there.

  17. There’s the difference between a buyer end user and a speculator.
    Quality always counts – that’s reflected in city land assessments. Bidding wars do not happen on first or twelfth or King Ed. Quality tenants avoid nasty streets. Ever see a cat living beside a traffic street? They are not chill.
    We are traumatized by vehicles. They are monsters.
    Would the people popping big bucks to buy along Cambie or 41st pay more if those developments were on quiet streets? They don’t have much of a selection.

  18. Premier announces $355 million affordable housing investment for B.C.

    Read more: http://www.vancouversun.com/business/affordability/premier+announces+million+affordable+housing/11716011/story.html#ixzz3zyyCPQtS

    Is the per unit cost of $170K reasonable?? If it is and your average 1br 500 sq ft condo is selling for $350K+ then it means the developers are having a ~50% net profit margin??? That extremely high?!!

  19. Shadow flipping could put Vancouver real estate deals under scrutiny from the taxman

    Read more: http://www.vancouversun.com/business/shadow+flipping+could+vancouver+real+estate+deals+under+scrutiny+from+taxman/11714181/story.html#ixzz3zz16XcTR

    Interesting quote:
    It’s not the first time the provincial government has investigated the issue. Shadow flipping was rife in Metro Vancouver during the early 1980s housing boom, and, like today, was blamed for boosting foreign property investment and making housing unaffordable for first-time buyers.

  20. Publicly funded housing will expect to get government owned land at no cost. Building costs will be at market price. Private sector developers pay for land, development fees, community amenity costs to compensate for increased value due to density increases, and many and various taxes and fees. That said, it is reckoned that developers in Vancouver operate on a 15% net profit margin. On billions of dollars in condo sales per year, this is a profitable city to be a developer in.

  21. 2016 Year of the Golden Monkey
    wishing all prosperity and lots of red envelops (hong bao)



  22. his diction is purrr…fect

  23. Kevin O’Leary, the only interesting shark, talked about how, after selling his company for billions, decided to try la dolce vita in one of those rich people’s havens. He didn’t like it; said the people were hollow. This is a slum of the mind. No need to do anything; sit around and quack; whine about service.
    His wife got sick of seeing him mope around in a bathrobe. Now he’s excited about all sorts of things – dressed to the t with a Hermes tie, shiny shoes, and fancy suit – gleefully rich; obsessively rich; abrasively rich; watching would be entrepreneurs squirm; talking about creating a dynasty. Wishing he could live forever.
    It’s a weird social life – sitting on Shark Tank – making funny with his rich cohorts; competing to make even more money on idiotic throw away products and tchotchkes. That’s another slum of the mind.
    We don’t live forever. The Grim Reaper is upon us at a gallop. Too many struggle at the feet of bullies – the whims of the monied – having no security of body and mind; slums not of our own creation.

    • One of the biggest loud mouth fake around in Canada, a Trump wannabe. Good god…if he becomes prime minister, I’m moving to US as a protest! 😛

      Seriously, the guy is a loud mouth me first, me only rip off artist. Not much better than a snake oil salesman.

  24. Advertising mogul David Ogilvie wrote: ” Man is at his vilest when he erects a billboard. When I retire from Madison Avenue, I am going to start a secret society of masked vigilantes who will travel around the world on silent motor bicycles, chopping down posters at the dark of the moon”.
    What would he think of this BPOE? This city polluted by Spam Pattison. The city quacks about view corridors, but everywhere our commons is hijacked by a billionaire bully. Our view corridors are of his garbage – a corporate slum. It’s revolting.
    Query – ban billboards – people are fed up. Some act as Ogilvie suggested -though chopping steel poles is unlikely – instead they paint bomb, tag, sticker, short circuit, and slice vinyl. Others boycott companies who insinuate their crap in our faces. Buy from Patison’s own Save-on-Foods, Pattison’s Western Family, Buy-Lowgrade Foods, Urban Fare, cars, trucks, condos … ? No way. Total boycott. Buy from the corporate psychopaths that advertise on his disgusting billboards? No way. Patison makes this city ugly – a billboard slum. Profit to him – shit on us.

  25. #BeholdTheKamikazeFuerdai…

    [NewYorker] – The Golden Generation: Why China’s super-rich send their children abroad

    …”On a crisp Sunday morning in November, Weymi Cho picked me up at my hotel, in downtown Vancouver, in her new car, a white Maserati GranTurismo with a red leather interior. She had slept only two hours the night before. A new karaoke machine had been installed in her apartment, a four-million-dollar condo with a view of the city’s harbor, and she and some friends had spent the night singing and drinking Veuve Clicquot.”…

    http://www.newyorker.com/magazine/2016/02/22/chinas-rich-kids-head-west

  26. rod_jonsson_pmd

    pffft! … lol! … http://tinyurl.com/za3jrtb

  27. Government hopes to cool housing market by… making it easier to get into housing market.

    http://www.vancouversun.com/business/budget+offers+help+buyers+homes/11723141/story.html?__lsa=ef41-c18d

    • The Lips arn’t that dumb as they appeared to be. Smart of them to do nothing and let the cash flows in for as long as they could, while retaining their popularity with young voters in the nick of time before the spoils go to the dogs.

  28. Guess the brainy, talented, exciting young people want nothing to do with those who brought them into the world. Just wish the oldsters would die quicker, so they can inherit.
    When cineaste Denys Arcand’s granny decided he was too busy a hamster, she bought him a piece of property – a grave. That gave the young’un pause for thought.
    It is one of the beauties of the Amish – generations live and work together. The circle of life is manifest. The youngest are useful, as are the oldest. If we could duplicate this way of living without a religious framework – and keeping modern conveniences, would there be a “housing crisis”?
    So many cultures live inter generationally. That’s a good thing.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s