Mayor Robertson to be replaced with condos

Like a local onion?

Many Franks pointed out this article over at syruptrap.ca:

Vancouver Mayor Gregor Robertson to be town down, replaced with condos

VANCOUVER (The News Desk) — After a long fight with developers, City Hall announced yesterday that Vancouver mayor Gregor Robertson will be demolished to make way for a condo development.

“Gregor is such a recognizable part of this city. We are all very sad to see him go and regret that we couldn’t do more to save him,” said City Hall human resources manager Deborah Swift as she watched construction crews approach the mayor from across the street.

According to documents from Henriquez Parters, the developer, Robertson will be rezoned as “mixed-use residential.” If the application is approved by council, the two-term mayor will be rebuilt as a 16-storey residential tower, with commercial space at street level.

Read the full article here.

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I'm Out
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I'm Out
@patriotz – Asians always wonder why parents-children relationship for Caucasian are so distant and cold… the aging parents wonder why the kids never want to visit them except when they are close to kick the bucket and there is inheritance to be had… @space899 – There is need to independence and there is also finance prudence, they aren’t mutually exclusive —————— There is no independence or real world experience when you live in your parent’s house – period. You live in a bubble protected from the forces of real life. Do your parents kick you out when you fail to pay the ‘below market rent’ payment or the ‘mortgage payment.’ No. Are you forced to defer gratification or make touch choices because you don’t have disposable income due to actually paying for living costs? No. Vancouver one of the largest,… Read more »
drugwelfaredependant
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drugwelfaredependant

http://www.newswire.ca/en/story/1324327/demographics-crisis-aftermath-pose-limits-to-growth-says-bank-of-canada-governor-stephen-s-poloz

“When a large swath of the population is making similar decisions, the impact on the broader economy can be significant,” the Governor said. “Savings that fund infrastructure and business investment are ‘being put to work,’ which can help improve productivity, while savings that go into housing are seen as contributing less to productive potential.”

Randy Randerson
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Randy Randerson

@1

To add to that, when you live with parents, there is no chance to make your own decisions based on your view and experience. Everything is decided together, parents will always make their views heard, because they think they know best.

For those who are more independent, it can mean a lot of conflicts at home.

There are exceptional situations where people choose to stay home, perhaps to help look after an aging single parent. Everyone’s situation is different.

Bull! Bull! Bull!
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Bull! Bull! Bull!

>After a long fight with developers, City Hall announced yesterday that Vancouver mayor Gregor Robertson will be demolished to make way for a condo development.

this is obviously a fake story. we all know that developers and city hall never disagree on anything.

realitycheck
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realitycheck

We all know that concentrated immigration, temp immigration, and low rates are responsible for crazy indebtedness.

The present gov intends to keep immigration high. And keep rates low as evidenced by the fall in our currency today.

cris
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cris
I’m out. Times are different. Waiting table could earn you enough money for rent and tuition. But, the math for young people doesn’t add up. Your tone gets me to think keeping kids at home is a conscious decision made by families, particularly Asian ones. The true is this arrangement is often forced on them. It is not just the kids, aging parents also weigh on the family. What do you do? Send them to Hastings/Main intersection? I know the problems about not launching kids to adulthood. But also Bill Clinton is not in the White House, when Engineering students can make 50k fresh out of college, and 1 bedroom apartment is $800, and gas is $15 a tank. I am not a sociologist. It is a bigger problem than I could personally solved, nor I in anyway the root… Read more »
Many Franks
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Active Member
File also under “comedy”. Cam Good: “It’s Possible For Millennials To Afford Vancouver Real Estate“ What’s the most frequent challenge cited by Vancouver millennials about real estate? They can’t afford it. It’s a well-known fact that real estate prices don’t match our incomes out here on the West Coast. But if you eliminate the single-family home pipe dream and consider the growing popularity and relevance of condo living, it’s not such a long shot to find a home the millennial can afford. Key Marketing recently did a survey of 230 prospective home buyers between the ages of 20 and 35 and what I learned from those results surprised me. The biggest shocker was the amount Gen Y home buyers save. Approximately half of Gen Y homebuyers can save more than $500/month, which means they could save about $6,000 in a… Read more »
I'm Out
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I'm Out
“Times are different. Waiting table could earn you enough money for rent and tuition. But, the math for young people doesn’t add up”. There are always exceptions when kids have to stay home and help care for ailing or unemployed parents. However, apart from these exceptions, the millennials I have dealt with seem to enjoy living at home without any responsibilities- as do their parents. It gives them disposable income to have cars, travel, and eat out. Rent has not increased more than inflation, so it is in line with incomes still. Instead of driving, public transit can be used – never has it been more accessible. And by the way, there are such things called room mates to reduce the costs of rent. But hey, when you can have your meals cooked and paid for, your laundry done, and… Read more »
crikey
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crikey

Most of us here understand that higher interest rates go hand in hand with falling housing prices, and that our interest rates are already near historical lows.

Nonetheless I found this to be a good read:

“Correlation of mortgage rates with real housing prices: How increasing inflation could affect housing prices”

“Conclusion

Given the risk of future inflation, housing is a poor bet at best and a catastrophe at worst. While not wanting to sound alarm bells, the potential on the downside is apparent. On the upside, the real housing prices stay flat but the lower bounds are quite concerning.”

http://www.investingthesis.com/analysis-insights/correlation-of-mortgage-rates-with-real-housing-prices-how-increasing-inflation-could-affect-housing-prices/

Son of Ponzi
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Son of Ponzi
I’m reposting this post from ex-kitsie from the last thread, because it’s topical and important. Slightly off topic, but I just read that Justice Minister Susan Anton has introduced Bill 17 (Miscellaneous Amendment Act,2014) which includes a proposed amendment to Section 23 of the Real Estate Development Marketing Act. This is the legislation that governs the marketing of real estate by developers to consumers. The amendment would make a purchase agreement enforceable against a purchaser where the developer’s disclosure agreement included misrepresentation of a material fact and the developer was not aware of the misrepresentation at the time the agreement was entered into. This amendment would remove the ability of the purchaser to terminate or renegotiate the agreement upon discovery of the misrepresentation. So… the developer can include unsubstantiated inaccuracies while still enforcing the purchase agreement against the purchaser who… Read more »
VMD@work
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VMD@work

Goodbye Flaherty
Finance Minister Jim Flaherty resigns from Cabinet, returning to private sector

Best place on meth
Member
Best place on meth

Bye, Jimbo!

Thanks for all your fucking around with the real estate market.

Loosen, loosen loosen….tighten, tighten, tighten…..

Great job buddy.

tedeastside
Member
tedeastside

in vancouver Gen.Y wont have good jobs ever. vancouver is a black hole for career opportunity

Son of Ponzi
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Son of Ponzi

#13
you’re wrong.
1-800-got junk is expanding.
They are now taking your car wrecks.

Burnabonian
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Burnabonian

I’d quit too if I was Flaherty.

Or flee the country like Carney.

Sell your horse before it dies…

space889
Member
space889
I’m out – so basically what you are saying is that the young people who choose to stay home are one or more of below 1 – coddled spoiled brats who wouldn’t grow up and can’t make independent decisions 2 – Financial responsible and saving lots of $$$ for downpayments which pushes up RE prices cuz you know, they have a bigger downpayment than the responsible you who is living on his own and paying rent. 3 – Take the money being saved and spend it on friviously enjoying a decadent lifestyle like trips, eating out, driving nicer cars that they otherwise couldn’t afford because they didn’t have to market rent. Sorry, but this sounds like one bitter dude who just can’t stand that other people potentially lives a better life because they get along with their family and support.… Read more »
space889
Member
space889

@Son of Ponzi – That is such an important change and I’m shocked there isn’t more media coverage (well ok, shouldn’t really be shocked at that) and not a lot of outrage from consumer advocacy groups. This is pretty much being the developers the legal right to lie however they want without worry/consequences. Going the legal route is already hard on the average person, this pretty much makes it impossible for the average pre-sale buyers.

Though, if the developers abuse this too much then hopefully there will be enough bad news/horror story abound that the law will either be changed or people smarten up and stop buying pre-sales!!!!

Re-diculous
Member
Re-diculous

Listened to a bit of CBC’s Power and Politics this afternoon and the adoration being heaped on Jim Flaherty and how he “saved us all”…..I couldn’t stand it! Not a word of his introduction of zero down / forty year mortgages of course……When the correction comes, it won’t be on his watch and our inept media will be incapable of connecting the dots.

patriotz
Member

@11:

Breaking news: Debt Man walking.

patriotz
Member

@16: “Renters aren’t that much more financially secure than owners on average. ”

That is a bogus comparison because renters and owners collectively represent different cohorts of the population, and most buyers first bought years ago at much lower prices.

How about two people with the same incomes, of whom one rents and the other has recently bought and taken on a debt of around 9x income? Who do you think is more secure financially?

T
Guest
T

I’m actually grateful for most of flaherty’s work. Elimating income trusts introducing the TSFA.

On the other hand, all that CMHC tinkering…

patriotz
Member

@21: “I’m actually grateful for most of flaherty’s work. Elimating income trusts introducing the TSFA.

On the other hand, all that CMHC tinkering…”

That’s like saying two goldfish comprise most of two goldfish and a whale. Actually you left out the second whale, the massive structural deficit.

Doug
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Doug

@Crikey
“Most of us here understand that higher interest rates go hand in hand with falling housing prices”

Correction:

Most do not understand that higher interest rates (ie. higher inflation) often go hand in hand with rising housing prices.

Another way to correct your initial statement would be to simply insert the word ‘real’ before interest rates. But that word 🙂 really confuses most people.

Snake
Guest
Snake

With real estate prices out of reach for the average citizen in Vancouver, some are resorting to renting pricey closets. Do closets even have heat registers? You’ll also have access to the living room, kitchen, and bathroom in case you get a little stir crazy.

http://globalnews.ca/news/1216086/micro-living-spaces-gaining-in-popularity-in-vancouver/

http://priceypads.com/4-more-closets-to-rent-in-vancouver-bc/

http://priceypads.com/oh-canada-5-closets-to-rent-in-vancouver-bc/

http://www.youtube.com/watch?v=kXY3ycuPpRw

Affiliate Marketing, Animal Care & Pets, Arts & Entertainment, Beauty, Betting Systems, Business / Investing, Classified Advertising, Computers / Internet, Cooking, Cover Letter & Resume Guides, Dating Guides, Digitalbook Strategies, Dominatin
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Affiliate Marketing, Animal Care & Pets, Arts & Entertainment, Beauty, Betting Systems, Business / Investing, Classified Advertising, Computers / Internet, Cooking, Cover Letter & Resume Guides, Dating Guides, Digitalbook Strategies, Dominatin

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