This story has been mentioned before, but this looks like the end of it. The RCMP has removed the condo owners.
RCMP escorted Cheng-Fu Bea from his home of 17 years under a court order issued last month that ruled the Beas must sell.
“The lawyer used the RCMP to force me out of my unit. It’s abuse,” said a visibly distressed Bea. “Where can I go? I have no place to go.”
Ah, that condo owning lifestyle!
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@southseacompany Thanks for passing that on. I was expecting a Chinese anchor for some reason.
Annoying how they group together immigration and foreign investment.
http://9gag.com/gag/aAY8ReZ?ref=fb.s
Why China isn’t in the World Cup.
China’s CCTV reports on Canada’s housing market, June 19, (5 minutes);
@97 Son of Ponzi
First hand evidence here. I lived and worked in Russia illegally for several years as well as most of my friends from ex-USSR republics. There is no other way to stay there because a number of work permits per year is extremely low. There are no rental buildings and 95% of rental suites fly under radar. Almost nobody pay taxes from rental income.
This state of affairs is very convenient for corrupt officials, because they can get bribes from immigrants and rental suites owners.
@98: With inflation, typical Canadian professionals and trades with established careers are sitting somewhere in the vicinity of 100,000 per year these days. If you assume that people doing well are more likely to brag than those who aren’t, that daily readers of finance/real estate blogs are above average, and then factor in dual incomes, why is 200,000 such a reach?
New Listings 181
Price Changes 99
Sold Listings 164
TI:17192
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# 96
seems counterintuitive.
Russia is under constant treath of terrorist attacks, and has the former boss of the KGB in charge.
One would think the Russian population would not take it lightly if foreigners would take their jobs and drive up rents.
Maybe you are right and Canada is really different, blessed with non corrupt governments and foreigners who come here with all the proper paper work, pay their taxes and observe all the customs and laws.
@95: “Illegal aliens right under Putin’s nose?”
Absolutely. Russia is ranked as one of the most corrupt countries for a reason. It also has the largest migrant workforce in the world. Foreign that is – China has the largest domestic migrant workforce, much of which is also living illegally in their cities of work.
“I assume, the same (registration) holds true for Moscow.”
Offically. But what’s offical and what’s reality in these countries are two different things.
#94
Illegal aliens right under Putin’s nose?
Before coming to Canada I lived in Vienna and Berlin.
And you had to register with the local polizei when you moved into the City or if you moved to a new district within the City.
I assume, the same holds true for Moscow.
@88: “I guess you are taking about the “official” population stats.”
Well actually I was talking about the lack of growth of rents indicating no shortage of shelter. Population was an aside.
Cities which have large undocumented populations have very high rents relative to statistical incomes. Like Moscow, for example.
So what actual evidence do you have of a large undocumented population in Vancouver?
I’ve been reading this blog by a Vancouver guy in his late 20’s, freedom thirty five blog. It’s about his investing strategies in both real estate and stocks. It gives some good insight into the Vancouver mentality. His strategy essentially boils down to take on as much leverage as possible because the only way to get rich is to use other people’s money. He’s done well enough so far, but some of his comments are just priceless: “Great point 🙂 Which is why I never paid more than 15% down payment on any of my 3 real estate investments in the past. Using other people’s money to invest can multiply our returns to something much higher than 4.5%. Of course I would consider buying a property with 100% cash if mortgage rates were 20% lol. It all depends. Leverage can… Read more »
Some people south of the border might be fighting back against the REIC! Realtor.com has been down since Tuesday.
http://online.wsj.com/article/PR-CO-20140618-914173.html
“Move, Inc., (NASDAQ:MOVE), a leading provider of online real estate services, today reported its websites are experiencing a distributed denial of service (DDoS) attack.
The attack directs massive amounts of traffic to our websites and makes realtor.com(R) , Top Producer(R) Systems, and Move’s other Internet services inaccessible. Move operates realtor.com(R) , the official website of the National Association of REALTORS(R).”
Chip, do you really think that China is embracing capitalism and pursuing free-market policies?
Romeo, take a holiday already.
@Best place on meth – were you planning on shooting a few Jews yourself?? Is that why you are upset you missed it?
#82
Not surprising given that the rate of population increase is well below historical norms.
————————-
I guess you are taking about the “official” population stats.
@82 The article was about Sydney, Australia.
Followup to the article about the transgendered rights discussion for the schools.
http://blogs.vancouversun.com/2014/06/14/npa-turfs-two-school-trustees-after-they-link-real-estate-with-lgbgt-rights/?__federated=1
The NPA released a statement late Friday afternoon declaring it had formally expelled Sophia Woo and Ken Denike “given that the two have chosen to follow their own course in various matters without consulting with the other members of caucus.”
During a raucous news conference in a Chinese restaurant Friday, Woo and Denike condemned the way Vision trustees on school board are trying to bring in a policy to protect transgender students from discrimination and ostracization.
Asked to provide the names of what Denike said were “senior people in the real estate industry who are expressing real concerns” about the effects of the proposed transgender policy, neither Woo nor Denike would provide any names.
