Report your neighbours vacant home

The city of Vancouver is looking at the issue of vacant homes and has expressed interest in building a website to allow people to report vacancies.

“We’ve all heard people asking why Vancouver is so expensive and telling us to look at all these empty houses. It’s a persistent question, so let’s get to the bottom of it and find out,” Coun. Kerry Jang said on Sunday.

Jang said he often receives feedback from frustrated residents blaming vacant homes and prospective foreign owners on Vancouver’s high housing prices, but the city is unsure whether those claims are justified and to what extent.

Jang said he personally is unsure whether those claims are true or not.
“That’s what we’re trying to find out,” he said.

Read the full article over at metronews.

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UBC in crisis mode
Guest
UBC in crisis mode

One block in Point Grey, total 36 houses, 14 are empty, 39%. .
What’s considered normal? 20%? 30%?

StupidityCheck
Guest
StupidityCheck

So they’re “looking into the issue”, are they? I’ll believe it when I see it. How many years have we be waiting for data on foreign ownership??

patriotz
Member

@2: “How many years have we be waiting for data on foreign ownership??”

Why not ask those in charge of the land titles, namely the BC government. You might also ask the NDP to quit being so gutless. Or just ask the people of Vancouver and BC to quit being such greedy fools. You would have about the same success in any case.

There is nothing the City can do about vacant homes except being stricter about upkeep.

vangrl
Member
vangrl

“Pity the owners of multiple homes in Metro Vancouver: it is getting tougher to find conventional residential financing once they own more than five properties in the world’s second-least affordable market..

“On Monday, another major bank pulled back their policies to only allow for five rental properties maximum, instead of having no limit to the number of rental properties.
“It wasn’t too long ago that some of our clients were able to acquire 70 to 90 properties through major banks without too many issues,” Green told BIV this week. “Now, some are forced to take on joint venture partners or go to private lenders.”

http://www.biv.com/article/2015/4/bulk-home-buyers-slowed-mortgage-rules/

W
Guest
W

lets not fool ourselves. If they do make a database ( big if) we all already know what conclusion they will draw.

You think they are going to use the raw number reported by the public? No way. They’ll “normalize” the data until it looks the way they want.

Also empty houses is just one part of the foriegn ownership equation.

vangrl
Member
vangrl

“In Vancouver, one can’t look at money laundering without considering property investment, Marsh said. And a more active market means more opportunity for funds to be washed.

“What’s happening here in the real estate market is pretty remarkable,” said Marsh, who now works for a private fraud protection firm after 25 years with the RCMP. He mentioned an “increase in value of property across the board” and “non-stop residential building.”

http://www.theprovince.com/business/Vancouver+critical+money+laundering+transnational/11015083/story.html

vangrl
Member
vangrl

Followed by…

“Vancouver, the most expensive market in the country, and along with Toronto a driver of national prices, is said to be in low risk territory even as average detached single family home prices stretch past $1.4 million in the local board’s reporting area.“Despite high Vancouver home prices, demand for housing across the price spectrum is supported by a growing population and growth in personal disposable income,” according to the report.”

http://business.financialpost.com/personal-finance/mortgages-real-estate/cmhc-says-regina-winnipeg-are-the-riskiest-housing-markets-in-canada

bullwhip29
Guest
bullwhip29
@ #5 exactly, a big IF once the public gets wind of the bloated costs involved to design, build and administer the site. perhaps this was the intent all along? this said, any data that is collected would have to be carefully verified and massaged before any of it is made public. my big question, is what happens after it is confirmed that some x% of homes are vacant? imho, the meatheads will study it, talk about it and ultimately sit on their hands and do sweet eff all. maybe the vanc sun will post a nice colorful graphic showing where vacant homes are concentrated (ie. which neighborhoods are deemed to be the best “investments”), but certainly nothing of note will be published that might upset the apple cart. the powers that be that run this city (and country for… Read more »
vangrl
Member
vangrl

“To make its point, The Red Pin conducted a study concluding that, for 8,477 home sales last year, Toronto Realtors made an average of $1,000 an hour.”
“It’s a goofy statement,” says Phil Soper about the $1,000 an hour calculation, claiming it doesn’t look at the full picture.He concludes full-priced agents will continue to thrive, because they offer a higher-quality service. “You tend to get what you pay for,” says Soper. “The better Realtors charge more than the less-experienced Realtors.”

http://www.cbc.ca/news/business/real-estate-agents-slashing-commissions-in-easy-to-sell-markets-1.3054156

vangrl
Member
vangrl

#5 & #8

I fear you’re both right.

It ‘may” help if they get Ian Young on board.

I have 2 friends that work for Canada Post, both deliver on the West Side (mackenzie Heights and Point Grey)
They know more than anyone how many houses are empty, they talk about it all the time, as do the customers/residents that they talk to on a daily basis.

We talked about this new proposal, but of course both were chicken shit to get involved at all, feeling it might compromise their job, or just worried that on some level it may negatively effect them.

bullwhip29
Guest
bullwhip29

@ #5 cont’d…

i betcha the whole thing will get shut down once someone figures out how to hack into it and make all the vacant addresses public.

@ #7
so, do you think the nightly news whores run with this story (using the Vancouver is the least risky/safest investment spin) or actually dig their heels into the Mo Yeung Ching story? come on guys, how about a glowing article complete w/ virtual photo tour of his sprawling shaughnessy palace to follow up the one they did a couple of months ago on the duck farmer turned tycoon, mailin chen
http://news.nationalpost.com/homes/bc-real-estate-boom-wealthy-chinese-buyers

bullwhip29
Guest
bullwhip29

@ #10
ian young is basically a wannabee ham RE cheerleader

Softy
Guest
Softy

“There is nothing the City can do about vacant homes except being stricter about upkeep.”

Nonsense. How about a $500,000 a year vacant home permit.

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

Vancouver a ‘critical’ money laundering hub for transnational criminals, experts say

http://www.theprovince.com/business/Vancouver+critical+money+laundering+transnational/11015083/story.html

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

Investors scoop old Burnaby apartment blocks in land development rush
$850 rental apartments selling for $350,000 per door

“Ninety-five per cent of the buyers are now from China,”

http://www.biv.com/article/2015/4/investors-scoop-old-burnaby-apartment-blocks-land-/

Wearehere
Guest
Wearehere

Notice the complete silence from our hallowed Premier and Mayor moonbeam?

The premier could care less. The money laundering empty houses brings in short term money to her coffers so she can look prudent, forget the long term social chaos.

And the mayor is too compromised IMVHO to even speak on the subject.

As for the Federal CON-servatives do you think they will rock this boat before the election (or even after)

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

@16

let’s look at the facts:

1.) conservatives end IIP because II don’t pay tax, don’t integrate into society, and have weak links to the country.

2.) conservatives introduced Bill C-24, the Strengthening Canadian Citizenship Act, which allows them to revoke citizenships people lied to obtain.

3.) conservatives sign treaty to share entry exist information with china.

4.) in 2013 Canada and China signed an agreement to share assets connected to corruption.

and much more which i don’t have time to look up and list.

so, this issue is on the conservatives radar and they have taken some steps to create a legal framework. will they use this framework to ‘fix’ the problem before the election? well, i think that will depend on what the polling tells them.

Johnny Lee
Guest
Johnny Lee

Too Little too late!!We’ve been bought and sold.

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

@18

that may be true.

realist
Member
realist

@1 UBC in crisis mode

“One block in Point Grey, total 36 houses, 14 are empty, 39%. What’s considered normal? 20%? 30%?”

For those in the business of rental accommodation, the target number is zero, and they do their best to keep it as close as possible to zero. For those in the business of speculation, money laundering, etc., it’s of little significance. So, shall we guess as to which category of business those Pt Grey houses fall in to?

Son of Ponzi
Guest
Son of Ponzi

Remember what the bible says:
Thou shalt not report your neighbor’s empty house.

realist
Member
realist

For those interested in data mining the subject of off-shore ownership, you might start with Sotheby’s:

“Two years ago, Sotheby’s International Realty reported that people living outside Canada—primarily in China, Iran and the U.S.—had purchased 40 percent of Vancouver luxury housing.” *

* Johnston, David Cay, The Hidden Costs of the World’s Ghost Apartments; Newsweek, April 14, 2015.

http://www.newsweek.com/hidden-costs-ghost-apartments-322264

vangrl
Member
vangrl
Operation Skynet agents have been combing through Vancouver’s real estate transaction records in recent weeks. Within hours of Beijing’s Most Wanted list making the rounds, police in Harbin, the capital of China’s Heilongjiang province, arrested and jailed Qu Zhang Mingjie, a local Communist Party official. Qu is the mother of the woman Vancouver Mayor Gregor Robertson calls his sweetheart, the pop star Wanting Qu, formerly Tourism Vancouver’s “ambassador” to China. There are quite a few wobbly dominoes involved in all this. Last year, when Ottawa finally pulled the plug on the scandal-riddled Immigrant Investor Program, there were nearly 46,000 Chinese millionaires on the IIP waiting list, hoping to make their way to Canada. In the four years leading up to 2012, when Canada stopped taking IIP applications, permanent-residency certificates had been issued by Ottawa (and by Quebec under the Canada-Quebec… Read more »
Oracle
Guest
Oracle

The problem is the media is the current municipal, provincial and fed government. Big business ($) owns the gov.

space889
Guest
space889

So basically spy and report on your neighbors? Sounds like a plan right out of Nazi Germany…

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