OV condo unit sale gets big price drop

“If they got in early, they got burnt” says the selling agent about the Olympic Village condo development.

The Globe and Mail features this deal where a unit was purchased new for $1,565-million + HST in 2010 and recently sold for somewhat less.

He says prices dropped in 2013, when the city took over sales. At that time, he sold a 1,200-square-foot unit, with a water view, in the same building for $860,000. “That’s more like a Burnaby price,” Mr. Yan says.

Last December, he advised a client to purchase this unit, and she jumped on it. She’d been looking for three months in Richmond and Yaletown as well.

“I said to her, ‘If you had talked to me a year earlier, I would have got you an even better deal [in the building],’” Mr. Yan says.

Read the full article here.

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Softy
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Softy

Discussion continued from previous thread:

Here is a chart of the percentage of immigrants to the USA who are in poverty, broken down by country of origin:

14% of immigrants from China are in poverty in the USA. Immigrants from China are in the middle of the pack.

The immigrants doing the best are from India and the Philippines with only 6.7% and 5.3%, respectively, in poverty.

http://cis.org/node/3876

patriotz
Member

@1: “The immigrants doing the best are from India and the Philippines”

The two countries with the largest numbers of English speakers in Asia. One a former British colony and the other a former US territory.

VanRant
Member
VanRant

NOT ALL REAL ESTATE GOES UP IN LOTUS LAND FOREVER!!!

space889
Member
space889
space889
Member
space889

And an article here about Bellingham police having to be called to control the locusts:

https://www.facebook.com/concentrate.social.media/posts/214291758699382

VanRant
Member
VanRant

Less illegal chinese money coming to Canada?

China’s president just declared war on global gambling. Visa restrictions will tighten, and even retail gamblers will have their money tracked as officials monitor UnionPay, the only domestic bank card in mainland China.

http://www.businessinsider.com/xi-declares-war-on-global-gambling-firms-2015-2

BC
Guest
BC
British Columbians recently got some good news with regard to their province’s finances. In the fiscal year 2014/15 the B.C. Government is forecasting a budget surplus of $184 million. Unfortunately though, there was some bad news mixed in with the good news. In spite of the B.C. Government forecasting a budget surplus of $184 million in the fiscal year 2014/15, they are expecting the total provincial debt to increase by $2.9 billion in the 2014/15 fiscal year up to a total of $64.7 billion. In the fiscal year 2015/16 the B.C. Government is expecting to run a budget surplus of $206 million, and the total provincial debt to increase by $2.2 billion, up to a total of $66.9 billion. In the fiscal year 2016/17 the the B.C. Government is expecting to run a budget surplus of $451 million, and the… Read more »
DaMann
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DaMann

Can anyone explain to me why we just don’t use the carbon gas tax to put towards transit instead of another tax? The carbon gas tax does absolutely nothing to stop carbon use and the money doesn’t actually go anywhere or do anything to reduce carbon. Just use the carbon gas tax!

I’m surprised the business bureau of the Lower Mainland is not against this. It’s a .5% pst hike ONLY in the lower mainland. If I were to buy a $100k car or watch or some other big ticket item I sure as hell wouldn’t be buying it in Vancouver now!

BC
Guest
BC

“I have posited that recent decades have been unique in economic history. For the first time on a global basis, there were no constraints on either the quantity or quality of Credit. History has shown Credit’s proclivity for instability. I have argued that the transformation to market-based Credit – first in the U.S. and then globally – ensured acute instability. We’ve now seen global monetary managers go to incredible extremes – zero rates, massive ongoing monetization and previously unthinkable market intervention and manipulation – desperate to keep this financial scheme from imploding.”

http://creditbubblebulletin.blogspot.ca/2015/02/store-of-value.html

patriotz
Member

@7: “Can anyone explain to me why we just don’t use the carbon gas tax to put towards transit instead of another tax? ”

Because it’s already being spent on something else, just like every other tax.

There is no specific “something else” since it goes into general revenue.

StupidityCheck
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StupidityCheck

7- the goal of conservatives is to replace the progressive income tax with scores of new/increased regressive taxes. That’s why we need a PST hike.

DaMann
Member
DaMann

@9

I thought it was just given back as tax rebates to businesses and low income?

patriotz
Member

@11:

That’s just hand waving. All you can say objectively is that the government takes in $X and spends $Y and borrows $Y-X.

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

median household income of arbutus ridge is $55k, lol.

Meanwhile the number of Chinese-speaking residents rose from 29 to 34 per cent between that same time. Single family homes dominated the landscape at 6,100, and the median household income was almost $55,000

http://www.vancouverguide.ca/Communities/Vancouver.asp?community=Arbutus

the median household income of surrey is $67k.

@11
Guest
@11

“I thought it was just given back as tax rebates to businesses and low income?”

In other words what you are asking DeMann is why can’t someone else pay for transit tax other than you? Great question! I never heard that one before from a tax payer.

In your proposal it would be low income earners and businesses paying it rather than having the tax spread fairly over all business and consumers in the Lower Mainland with the tax being paid mostly by high income earners and businesses who spend the most on PST taxable goods.

@13
Guest
@13

“median household income of arbutus ridge is $55k”

They are mostly retired pensioners who bought decades ago.

@13
Guest
@13

Not sure where you get your numbers from but according to your link the average income is over 81K in Arbutus compared to 60K in Surrey. There is also twice as many people over 65 years old in Arbutus compared to Surrey.

patriotz
Member

@13: “median household income of arbutus ridge is $55k, lol.”

1. A basement suite is a household. Even if it comprises, say, just one UBC student.
2. Still lots of retirees in that area.
3. The “household survey” is unreliable anyway:

http://globalnews.ca/news/688539/toronto-ditches-national-household-survey/

88
Guest
88

@17

4. Overseas income.

I mean, come on. Arbutus Ridge vs Surrey.

space889
Guest
space889

@BC – I wonder how much natural gas revenue the govt is counting on for that surplus. Also, we are still increasing total debt!!! Not a good sign

patriotz
Member

@18:

The median is the point at which there are as many households below as above. @13 says 34% of residents are of Chinese origin. The % of Chinese households is undoubtedly lower than that, because the Chinese households are more likely to be families as opposed to singles or empty nesters.

So can you see whether the Chinese households accurately report all their income to the survey – if they report it at all – it’s not going to move the median significantly? Remember this is the household survey which nobody has to answer in the first place.

space889
Guest
space889
@DaMann – Using a tax design to reduce carbon emission on projects that will actually reduce carbon emission? That would just make too much sense!!! Frankly, I see pretty much any “tax neutral” proposals from government as nothing more than a handout to the big business and rich with maybe some scraps for the actual needy and absolutely nothing for the middle class. I think the small independent business are against this PST hike. However, most of the bigger businesses don’t really care that much since they aren’t really direct consumer facing businesses and they will get the extra 0.5% rebated anyways. Given how many ways we are being tax by Translink and how inefficient and corrupt the whole organization this, I’m really surprised there isn’t a bigger taxpayers revolt over this, especially compared to the vehicle tax revolt. Maybe… Read more »
history
Guest
history

what is the anomaly? Olympic housing in Vancouver down, everything else up.
It’s Greek to me

paulb
Member

New Listings 350
Price Changes 69
Sold Listings 182
TI:12336

http://www.paulboenisch.com

ChinaOne
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ChinaOne
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