More racism debate in the Courier

The courier is getting lots of linkage from us as of late, but they’re playing both sides of this issue pretty well.  Is it racist to say that we should have foreign buyer restrictions or that absentee owners can kill a neighborhood?  Mark Hasiuk says NO.

Christy “Families First” Clark, a committed globalist, won’t restrict foreign ownership in B.C. Mayor Gregor Robertson, who slobbered over Beijing during a 2010 “trade mission” to China, won’t reform the tax code to accommodate the new normal. Which means foreign real estate investors pay the same rate (4.2 per cent) as local homeowners, not the business rate (18 per cent) they should.

Read the full article here.

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Anonymous
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Anonymous

@Anonymous: ….As pointed out it would be one the worst places to ‘hide’ money. Real estate is the most regulated asset you could park money, especially in Canada. …

You should renew your subscription to Gullible People’s Digest.

patriotz
Member

@Anonymous:
“some of the warning signals look uncomfortably like those of the days before the market implosion that brought the 1980s to a thumping, crashing close.”

He’s talking about the Toronto bust of the last 1980’s – early 1990’s.

That’s why the bears are popping up all over the media. Vancouver is a sideshow, but TO is the main act.

patriotz
Member

@Anonymous:
“An NDP majority will be required to collapse the housing market in BC.”

Is the NDP running Kelowna?

Patiently Waiting
Member
Patiently Waiting

@Apocarypse Mao: The real estate agent in the story is full of crap. People are hardly aware of it and $10,000 is meaningless in the context of Vancouver. Also, it doesn’t really mean people get $10,000; more like a few hundred dollars actually ends up coming back to them (IIRC from an earlier discussion on this site).

rp1
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rp1

Here’s a blast from the past. Greenspan on sluggish business investment:

http://www.nytimes.com/2004/07/22/business/22fed.html

Anonymous
Guest
Anonymous

@Joe_Blown_Away_By_High_Housing_Costs: “NDP won both byelections in BC!!! HAPPY DANCE!!!”

It is only 2 seats. An NDP majority will be required to collapse the housing market in BC.

Anonymous
Guest
Anonymous

“No aspect of data supports bullish view of house market”

it was a good run. And now, in 2012, it is time for Canada’s housing market to stop running and catch its breath.

Three things have pushed me, growling and snarling, into the bearish camp. First is the seemingly relentless upward march in housing prices, which eventually will stop rising faster than incomes. Second is household debt, which has reached great peaks and will surely begin to wobble. Third is the heady share of domestic output that is being absorbed by housing construction, displacing arguably more productive investment elsewhere, which it cannot forever continue to do.

The arithmetic is simple, and some of the warning signals look uncomfortably like those of the days before the market implosion that brought the 1980s to a thumping, crashing close.

http://opinion.financialpost.com/2012/01/03/bear-snarls-at-housing/

rp1
Guest
rp1
@No Money Down: “Personally, I believe that the only way to create a net worth for yourself is to buy property,” Pughe said. Spend less than you make and invest the difference? Anyone? “Right now for every $475 you are paying in rent, that’s the payment on a $100,000 mortgage.” So the place I’m renting is a lousy investment. Buying it would tie up a lot of money and it wouldn’t save money, even at the lowest interest rates possible. And if you talk about owning something in 25 years, let’s talk about interest rates in 25 years? What were they 25 years ago? Do I want this place or a mountain of cash? For condominiums there is no case that can be made. They will lose money. And who is going to buy more of them when that happens?… Read more »
Apocarypse Mao
Guest
Apocarypse Mao

Oh, joy. Nice to see where my tax dollars are going;

“B.C. inflates the housing bubble; Despite warnings, the province’s government is offering incentives for first-time homebuyers”, Macleans, Apr 18/12

http://www2.macleans.ca/2012/04/18/inflating-the-housing-bubble/

Joe_Blown_Away_By_High_Housing_Costs
Guest
Joe_Blown_Away_By_High_Housing_Costs

NDP won both byelections in BC!!! HAPPY DANCE!!!

No Money Down
Member
No Money Down

Tick Tock Says:
April 19th, 2012 at 8:48 pm
Pretty Brutal…

http://www.vancouversun.com/business/Vancouver+single+weighs+equation+home+ownership/6488454/story.html

“Right now for every $475 you are paying in rent, that’s the payment on a $100,000 mortgage.”

We’re moving into a cute house near Ontario/26th. Our rent would cover $600k in mortgage payments. The landlord purchased the house a few months ago. Purchase price $1.325M….

vangrl
Member
vangrl

that’s the second time that The Sun has quoted that Pughe mortgage broker, she is unf’ing believable. Same broker that suggested borrowing against your Visa or having your parents take a heloc out to lend you money for a down payment

“As long as you love the place you’re in, even if the market goes down, as long as you can pay the monthly payments, you can stay there until the market comes back.”

“As long as you’re shopping for a home, not buying a house as a speculative investment, it’s always a good time to buy, Pughe said.”

Read more: http://www.vancouversun.com/homes/Vancouver+single+weighs+equation+home+ownership/6488454/story.html#ixzz1sYO7oQVz

Read more: http://www.vancouversun.com/homes/Vancouver+single+weighs+equation+home+ownership/6488454/story.html#ixzz1sYNTe1XB

/dev/null
Member
/dev/null

Mr. Harper meeting with China’s Head of Propaganda. One wonders who is asking who for advice.

http://www.straight.com/article-665646/vancouver/caption-campaign-photo-stephen-harper-meets-chinese-propaganda-chief

Joe_Blown_Away_By_High_Housing_Costs
Guest
Joe_Blown_Away_By_High_Housing_Costs

Don’t you guys ever take a break from RE? The big news story in BC right now is the byelection results.

Tony
Guest
Tony

Sedins are awful in the playoffs and thats all that matters. A couple of wussy broads.

good-format
Guest
good-format
Copied from PaulB’s number http://www.laurenandpaul.ca Date Listing Price(+-) Sold Inv Inv(+-) S/L(%) Apr-02 450 139 125 16,074 27.8 Apr-03 319 133 224 16,124 50 70.2 Apr-04 302 131 147 16,230 106 48.7 Apr-05 277 118 117 16,345 115 42.2 Apr-10 403 211 159 16,475 130 39.5 Apr-11 416 151 202 16,618 143 48.6 Apr-12 333 140 103 16,736 118 30.9 Apr-13 289 146 150 16,807 71 51.9 Apr-16 341 170 137 16,883 76 40.2 Apr-17 280 177 179 16,893 10 63.9 Apr-18 301 146 170 16,971 78 56.5 Apr-19 251 127 129 17,025 54 51.4 Total-Cur 4,460 2,011 2,097 1,042 47.0 5 day-avg 292 153 153 58 52.3 Total-Est 6,507 3,083 3168 17,376 1,447 48.7
Laibach
Member
Laibach
@Anonymous: Dude, are you trying to be funny when suggesting to look up ‘money laundering’ or else? Method, Real estate: Real estate may be purchased with illegal proceeds, then sold. The proceeds from the sale appear to outsiders to be legitimate income. Alternatively, the price of the property is manipulated; the seller will agree to a contract that under-represents the value of the property, and will receive criminal proceeds to make up the difference. http://en.wikipedia.org/wiki/Money_laundering In recent years, the booming real estate market has helped increase mortgage fraud and other phony real estate related schemes. The perpetrators of these schemes range from mortgage brokers looking to make a fast buck to drug dealers laundering their ill-gotten gains. Every year, these fraudulent schemes victimize individuals and businesses from many walks of life, including struggling low-income families lured into home loans they… Read more »
Tick Tock
Guest
Tick Tock
What?
Guest
What?

with this rate by 2014 we’ll be 50K yay!

Anonymous
Guest
Anonymous

@Sheesh: Did you read the article? You have a big imagination.

Anonymous
Guest
Anonymous

@AG Sage: “A rising market is a great way to launder money.”

A rising market is a good way to speculate on real estate and make capital gains. That is not money laundering FFS.

Anonymous
Guest
Anonymous

@Anonymouse: ‘But, hey – haters gotta hate, right?’

And skaters gotta skate…. maybe not.

We’re number two, we’re number two, were number two. we’re….

oneangryslav2
Guest
oneangryslav2

@punter: The Canucks are not in the Pacific division. They’re in the Northwest, which does have four teams in the division that did not make the playoffs.

But…Vancouver’s record against other divisions is better than other top teams’ records against those same divisions.

The Canucks’ season may be over on Sunday, but there’s no denying that they’ve been one of the top teams in the NHL the last few years.

Anonymous
Guest
Anonymous


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What?
Guest
What?

@Inventory:
so it’s not 17077, it’s 17025?