Access to mainland China’s biggest bankcard spreads to Vancouver

http://www.biv.com/article/2014/11/access-mainland-chinas-biggest-bankcard-spreads-va/

Go Home ET.

From New York to Hong Kong, what other cities around the world have done to curb absentee owners

http://www.bcbusiness.ca/sites/default/files/uploads/vacanttaxes.png

Check out the top line in both of the following data tables from the Bank of Canada:

Latest household credit numbers for Canada (to the end of November, 2014):

http://credit.bankofcanada.ca/householdcredit

Latest business credit numbers for Canada (to the end of November, 2014):

http://credit.bankofcanada.ca/businesscredit

@patriotz – why not? when the desperate need for money and getting re-elected are combined, politicians will do some pretty crazy things.

Hey Fake WSR, I am seeing plenty of HAM curling my Delta neighborhood. I am anticipating a jump in both sales and prices this spring.

I might just buy another one, and flip it later in the year, figure I can make an easy $60k, for doing perhaps 20 hours of work.

But you are too dumb to understand how markets and economics work, hence you will live in your moldy basement suite for life along with the other irrational permanent bears here. Losers.

@#10

Delta detached benchmark up 0.1% YOY. Median price down 0.7% YOY. Average price down 4.6%.

http://www.fvreb.bc.ca/statistics/Package%20201412.pdf

Delta not so hot.

It’s not Oracle posting. It’s the child WSR using multiple aliases and doing multiple upvoting. No wonder so many have left this blog. Only a few posters here now using multiple aliases.

Can you ban post #10 IP? It’s westside. simething tells me it’s his blog. Let’s see what happens.

I’ll second the motion to have WSR/fake Oracle/CanucksBoy/CrashComing/Romeo Jordan banned. He’s really stinking up the place. In the meantime, I’ll just ignore and down vote his posts.

@11,

You read the report incorrectly. Delta detached benchmark is UP 5.4% YOY and average price is UP 4.5%.

>Do you think Crusty will give it to Vancouver if the city asks really nicely?

i don’t know patriotz, and neither do you.

in order for us to find out, the city would have to ask.

what’s the downside of taxing foreign money? if it isn’t a significant market factor some super rich corrupt foreigners will be out a few thousand dollars, the city will be a bit richer, and property prices will remain unchanged. with that kind of downside taxing them is a no brainer. so why oppose it?

of course, if it does work and prices correct to the point where they make sense it will expose the “blame the conservatives for juicing the market” narrative that patriotz pushes.

what’s more important, knowing the truth or appearing to be right to a bunch of internet people who don’t even know who you are?

there you have it people, patriotz is in favor of a foreign ownership tax, but doesn’t want to ask for it because the province may say no.

does that make sense? only if you use bear logic.

The problem with any of these “foreign tax” is that it is not just the current whipping boy – the xenophobically hated HAM that will get whacked but also so-called ” locals” – such as those out working in Alberta or the States but intending to come back to BC or settle in BC later on.

Furthermore, during the inevitable downturn – the market will be begging for any buyers – irrespective of nationality to buy up excess inventory –
HAM, whether it is myth or reality is just a by-product phenomena of a booming market – boom vanishes – HAM vanishes.

“buying is more expensive than renting”

Lets examine this often used phrase: buying is more expensive than renting. Presumably, when this phrase is used the comparison being made is between monthly rent and monthly mortgage payments. Some people think that it is better to rent than buy because buying is more expensive than renting.

But to determine whether one is more “expensive” than the other, the thing being purchased must be considered.

Renting purchases you the right to occupy an dwelling. Buying purchases you land and a building. The thing purchased when buying is the right occupy a dwelling PLUS an asset that can be bequeathed to your kids upon death or borrowed against or sold to fund other activities. So buying should be more a lot more expensive than renting because you get a lot more.

In fact, if renting is ever cheaper than buying, it is a market imbalance that will likely be corrected when land prices rise and renting becomes cheaper than buying.

Correction:

In fact, if BUYING is ever cheaper than RENTING, it is a market imbalance that will likely be corrected when land prices rise and renting becomes cheaper than buying.