Could we get some big companies here?

This is an interesting post over at medium- basically positing that high home prices in Vancouver threaten it’s future, and proposing a tax to try to change that risk:

The secret that no-one actually wants to talk about is that the quality of a city is mostly determined by a simple factor — the number of smart, ambitious people who live there. These people are the ones who want to drive that city forward by investing in opening businesses, donating their time to the arts & community, participating in city planning, etc… Without them, growth wouldn’t happen and you wouldn’t get all of the benefits that great cities enjoy.

The biggest contributor to the decline of a great city is simple — it’s the decline of those smart people. When they decide that the cost of living in a place outweighs the benefit, they move. They don’t just take their money with them, they take their intellectual and future capital with them. This is dangerous. When people aren’t willing to make an investment in a place to live any more, the city doesn’t just lose their taxes for the year, they lose a massive function of potential jobs created, culture added and future capital they can put to work.

There are two issues here: the generation of local business opportunity and an attempt to draw established business head offices to town.

What do you think of a proposal for a housing tax that attempts to encourage economic development?

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space889
Member
space889

@Guy Smiley – uhm…please show one proof that any country anywhere in the last 300 hundreds have officially acknowledged Tibet as an independent country? Seriously, just show one shining example. Please…

Also Unigur is in XinJiang and I don’t think that group even comprises of 50% of the local muslim population,never mind the population of entire province, excluding Han Chinese. A lot of larger muslims groups seem to be very content to stay in China.

space889
Member
space889

Actually borrow a line from BPOM, get over it, you are part of China and it’s all history. The ship has sailed. Stoping bitching and complaining like a mainlander Chinese!

Son of Ponzi
Guest
Son of Ponzi

It’s refreshing that more and more people are having issues with speculators buying property and leaving them empty.
I’m hoping that the push back will finally force politicians to act.

space889
Member
space889

If you want smart and ambitious people who are also mobile, you have to be willing to pay top dollars for them. NY, San Fran, London all have very high cost of living and that hasn’t stopped top people from leaving because they make even more $$$. Even the lower down middle class blue/gray collar job holders aren’t fleeing their enmass because there is an entrepreneurial spirit there. Nobody goes to those places for a nice relaxing retirement.

Vancouver, not so much….

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

big companies don’t want to come here because of the high cost of living makes it hard to recruit top talent.

http://www.bcbusiness.ca/your-business/bc-held-back-by-few-jobs-and-even-fewer-workers

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

also, the lower mainland suffers from excessive centralization and poor transportation. resources, services, jobs, entertainment are concentrated in vancouver and especially downtown. but transportation sucks ass.

so people pay a lot to be near the center and avoid an awful commute to get from their homes to the places they need to be. of course, high demand for housing near the center pushes up prices to ridiculous levels.

if services, jobs, education, entertainment were more spread out and transportation was good we would have more even demand across the region and lower costs.

of course, vancouverites seem to think that getting around easily is evil ( see opposition to bridges and highway expansions ), and that spreading out goodies ( see extreme bias against surrey ) is bad this situation won’t change.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!
Loon
Guest
Loon

I just drove by one of the asian realtor bus stop ads (by dairy queen) in west van along marine drive and noticed this:

Someone stuck 2 great big ‘respect Canada’s national languages’ sticker on the chinese writing in the ad. Obviously some of the locals don’t approve.

Newcomer
Member
Newcomer

I can think of examples of cities that became crappy because the smart people left, but in those cases people left when the cities were becoming less expensive. I can’t think of any examples of cities that used to rock and then became crappy because they became too expensive and so the smart people left.

Can anyone think of an example of that?

Best place on meth
Member
Best place on meth

A 100% levy on properties purchased by foreigners seems a bit extreme.

I like it!

Son of Ponzi
Guest
Son of Ponzi

I think we also need the artsy fartsy people.
That’s what make for a world class city.
Berlin is a good example.

Son of Ponzi
Guest
Son of Ponzi

Biked through Steveston and found that the “The Pier” luxury condo development ( south end of No 2.RD) has come to a standstill.
Detail, anyone?

patriotz
Member

@6: “jobs… are concentrated in vancouver”

You seem to have missed the exodus of both commercial and industrial employment from CoV and the redevelopment of their sites by condos over the last few decades.

In fact CoV now has fewer jobs per worker than Richmond.

http://blogs.vancouversun.com/2011/10/25/is-vancouver-becoming-a-bedroom-for-the-burbs/

Melba
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Melba

…..I can’t think of any examples of cities that used to rock and then became crappy because they became too expensive and so the smart people left.

Can anyone think of an example of that?….

Vancouver BC.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

@patriotz

the article you posted confirms my observations:

“the city has quite a ways to go before the traditional pattern of suburbanites commuting to jobs in the heart of the city is fully reversed.”

Janitor Yellen
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Janitor Yellen
Lots of big companies already. CUPE, BCTF, every Province, every Municipality,… Provinces and munis issue bonds, just like listed firms do. We’re awash with big companies. What the problem? Just get the Statscan to put those activities into the GDP column. Problem solved. Also add the numerous mom and pop “pharmaceutical” and “adult entertaining” firms to GDP as other countries did to temporarily lower their borrowing rates: http://www.slate.com/articles/business/the_edgy_optimist/2014/06/france_gdp_the_nation_won_t_include_drugs_and_prostitution_in_its_calculations.html C’mon France, get in the game. The sooner you start playing ball, the sooner more willing countries can add murder for hire and terrorism as GDP accretive activities. That ISIS group is already off the charts – they even publish quarterly reports on the number of beheadings and conversions! @Bull!, your desperate posts are hilarious. What? Did you think you could buy up a bunch of overpriced Canadian property and then just… Read more »
Loon
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Loon

Getting back to the topic, I’ve always remembered Vancouver as having a brain drain issue. Most of the drain was south of the border or sideways to AB – because its close by and it pays more.

Not necessarily a bad thing. I’ve also remembered friends coming back to Van, with small fortunes in tow and purchasing homes – possibly adding to the bubble effect. This could be a small percentage overall.

I’ve also noticed that Van is has piled on the people lately, so much so that the roads and sidewalks look overburdened. Again not a bad thing, but not what I was hoping for.

Newcomer
Member
Newcomer

@Melba

So you’re saying it’s different here? 🙂

paulb
Member

New Listings 213
Price Changes 97
Sold Listings 187
TI:17209

http://www.paulboenisch.com

OV
Guest
OV

Toronto public school board delays China-backed Confucius Institute amid fears it will used be as propaganda tool

http://news.nationalpost.com/2014/06/18/toronto-public-school-board-delays-china-backed-confucius-institute-amid-fears-it-will-used-be-as-propaganda-tool/

Toronto school board probably just wants more money before they sell out.

Devore
Member
Devore

@6 bullbullbull

Bias against Surrey? Every city/region/neighbourhood has a reputation, but I can’t really recall any anti-Surrey bias when it comes to regional planning. What “goodies” is Surrey missing out on?

Besides, plenty of businesses that are not Microsoft or Amazon are opening in Surrey, providing a range of employment, because business taxes are much lower (Vancouver keeps residential property taxes low at the cost of businesses) and lots of local labour is readily available. Nearly all population growth in lower mainland is happening in the suburbs.

tedeastside
Member
tedeastside

need a job, well West Georgia isn’t exactly Bay Street
but vancouver’s pitiful laughable “business district” does have lots of ‘For Lease’ signs

maybe making ‘for lease’ signs would be a money maker in vancouver

tedeastside
Member
tedeastside

remember SanFrancisco had a “problem”
people were complaining that too many white collar jobs were being created and not enough blue collar jobs were being created

vancouver will never have that problem……vancouver cant create ANY jobs, not blue collar, white collar, green collar, vancouver is known for it’s extreme lack of office jobs, zero manufacturing or anything besides condo construction jobs

I knew it
Guest
I knew it
“big companies don’t want to come here because of the high cost of living makes it hard to recruit top talent.” Yes right. Most big companies go to cities such as London, New York, San Francisco, Hong Kong. Most of those places are more expensive than Vancouver. In the past year announcements of Amazon, Microsoft, Sony Pictures, Facebook, Twitter, Salesforce setting up in DT Vancouver. Are those big enough companies? I agree with N. Higher property prices attracts bigger companies. Why? Probably because most losers can’t afford to live here so vermin like BPOM leave which makes the city more attractive. Hey BPOM when will you have enough saved for a one way ticket out of here? People like BPOM you short, ugly, rude, SARS spreading, bush meat eating loser. Does you mainland boss make you suck him off everynoght… Read more »
Romeo Jordan
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Romeo Jordan

I expect prices to decline 2-3% this summer, taking year-over-year price gains down to around negative 3%…

Shitstorm set to GAIN traction.

Enjoy.

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