Beautiful Empty Homes of Vancouver

A group of about 20 concerned west side residents have started posting a photo collection of vacant abandoned homes in Vancouver.

For some of these homes the term ‘beautiful’ is a bit of a stretch, but it’s interesting to see the growing resentment of abandoned and vacant properties in a town with high house prices.

There’s an article in the Province about that site as well:

The blog is “a documentation of what happens when Vancouver real estate enters the global real estate market,” but there may be factors other than absentee owners that contribute to the rubble-strewn yards and the decaying homes it showcases, Yan said.

As aging baby boomers begin downsizing to condos in other parts of the city “perhaps a good number” of their single-family homes are sitting empty between real estate deals, Yan said.

Still, this phenomenon could be the “edge of the new normal,” as Vancouver becomes a “resort city” where people from around the world invest their money in home ownership.

Regardless of why they are emptying, these neighbourhoods were centred around public schools and built for families, Yan said.

Read the full article here and visit the site here: Beautiful Empty Homes of Vancouver.

 

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perfect-line.pl/
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perfect-line.pl/

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Beryl
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Beryl

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source webpage
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source webpage

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

vancouver is growing at around 7-9%. what’s toronto’s population growing at?

“Toronto’s population grew by 1.0% from 2001 to 2006, with an annual growth rate of 0.2%.”

http://en.wikipedia.org/wiki/Demographics_of_Toronto

Bob the builder
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Bob the builder

….I know many people from China tgat have come to Vancouver. They are buying several homes and plan to sit on them…

Wouldn’t it be more comfortable to sit inside them?

chip
Guest
chip

“An immigrant cannot apply for this until they have been here 10 years or more otherwise the government goes after the sponsor.”

Thousands of sponsored immigrants apply for and receive welfare every year. Over a decade ago, I remember BC alone being owed $50 million by sponsors.

This of course doesn’t include the biggest expense – healthcare – which is free.

Current immigration policy is a massive pit of red ink, a net cost estimated at over $20 billion a year.

southseacompany
Member
southseacompany

“Canada Housing Crash Could Hit Next Year: Hilliard MacBeth” Huffington Post

http://www.huffingtonpost.ca/2014/09/24/canada-housing-bubble-hilliard-macbeth_n_5878784.html?utm_hp_ref=canada-politics&ir=Canada+Politics

“Say this for Hilliard MacBeth: the man has guts. While a number of analysts have expressed concern that Canada is in a housing bubble, the Edmonton-based portfolio manager at Richardson GMP is among the few who are putting a timeline on it bursting.”

“Asked by Globe and Mail real estate reporter Tara Perkins when a housing correction might occur, he said that, “depending on the price of oil, depending on world economies and all that, we’ll see next spring, next summer.””

Egg Hunt
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Egg Hunt

>112 OAS/GIS
>until they have been here 10 years or more

I am aware that now Service Canada is enforcing more proof of residence, but for many decades, gov’t hasn’t been tracking or demand the proof of the days PR or Canadian citizen being here in Canada.

I know people who keep local address, keet names on small utulity bills, library card to back up their residency, but in fact they are overseas for many years.
They have Canadian Bank account, filing income taxes (zero income), so eligible for all those benefit, automatic deposit of course.

loopholes, loopholes, loopholes….

ham
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ham

Barb Rennie’s comment got more likes than dislikes. I wonder why? The only haters of HAM are likely noy asian. Thats very sad that it has come down to this. Racism should not be expressed here. Blame the govt.

Shut It Down Already
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Shut It Down Already

How many 16k parties would that be for this year? 7? 8?

Heard Herd selling
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Heard Herd selling

Happy 16k Thursday

Yunak
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Yunak

@Barb

They justify such behavior by saying it is part of their culture and who they are, locusts and leaches. As a multicultural and democratic society we are supposed to live with it and accept it as a new norm according to our lawmakers.

Insanity
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Insanity

“What really irks me is the millionaires (of the asian desent) who bring their aging parents and inevitably they apply for OAS/GIS.”

An immigrant cannot apply for this until they have been here 10 years or more otherwise the government goes after the sponsor.

Bo Xilai
Member
Bo Xilai

#86 Oh Grow Op!,

Actually, Costco head office jobs are no more lucrative than working as a cashier. A friend of mine used to work at Canada’s HQ and she quit because they didn’t offer her any extra money despite the fact she was responsible for tens of millions of dollars in orders and budgets.

paulb
Member

New Listings 217
Price Changes 73
Sold Listings 183
TI:15984

http://www.paulboenisch.com

joe
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joe
Barb Rennie
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Barb Rennie

I don’t care about the foreign money laundering in Canada, or the empty homes, or rising RE prices. What really irks me is the millionaires (of the asian desent) who bring their aging parents and inevitably they apply for OAS/GIS. Of course they would get maximum benefits $1100 per month from Canadian Government because they have no income. They live inter-generational with their millionaire kids. Meanwhile, our seniors (the ones that have lived and worked all their lives) are struggling to pay for bus fare and groceries. You betcha I’m a hater, hater of these chinese scammers.

Heard Herd selling
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Heard Herd selling

Silly east of Eraser 2 million $ buyers, that house sold in the spring, and already it’s lost 10% bringing it to under 2 mill. You can get a new house west side for 2 million

fitzrovia
Guest
fitzrovia

Lets face it folks we are screwed on this blog.
We keep waiting for reality and sensibility to come and we constantly get screwed.
The Government halted the investor immigrant scam but wont raise rates or pull in the CMHC or track hot money or tax empty homes and we wait for one of the miracles to happen. And we know full well that the first real drop in RE prices would bring such a howl from the self-entitled that they will do an immediate about face and throw the kitchen sink at it.
When and if it does finally burst it will destroy the good the bad and the evil Well the evil may be out of office by then but the good and the bad will be consumed by the inferno. So we are screed either way…shhhhheeesshhh

fitzrovia
Guest
fitzrovia

Lets face it folks we are screwed on this blog.
We keep waiting for reality and sensibility to come and we constantly get screwed.
The Government halted the investor immigrant scam but wont raise rates or pull in the CMHC or track hot money or tax empty homes and we wait for one of the miracles to happen. And we know full well that the first real drop in RE prices would bring such a howl from the self-entitled that they will do an immediate about face and throw the kitchen sink at it.
When and if it does finally burst it will destroy the good the bad and the evil Well the evil may be out of office by then but the good and the bad will be consumed by the inferno. So we are screed either way…shhhhheeesshhh

Softy
Guest
Softy

Vancouver real estate breaks $2m mark east of Fraser Street

That is the sale price for for a 33×120 lot and a three year old house with a laneway house.

http://www.cbc.ca/news/canada/british-columbia/vancouver-real-estate-breaks-2m-mark-east-of-fraser-street-1.2776611

Insanity
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Insanity

@95 From the article:

How bad do you see it getting?

There’s a money manager, Jeremy Grantham, he’s head of GMO in Boston, I met him about 10 years ago. He had his team of research analysts search out all the bubbles they could find, historic bubbles, and every single one of them corrected all the way back to the trend line that was in place prior to the bubble. So the housing bubbles in Canada, the U.S., Ireland, Portugal, Spain, Australia started in about 1999 or 2000. To get back we’d have to have a 50-per-cent drop in prices.

If we go back to 2000 levels in Vancouver that will be more like a 60% correction not 50%. Of course Vancouver could be the first bubble ever to not correct back to the trend line.

Son of Ponzi
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Son of Ponzi

Regarding Harper’s announcement:
“Nothing is official until it’s officially denied”

ham
Guest
ham

I know many people from China tgat have come to Vancouver. They are buying several homes and plan to sit on them. Leaving money in accounts is just to risky for them. This dirty money us here to stay. Blame the government for this.