BC Premier has a message for first time buyers

A recent petition seems to have gotten enough attention to get the Premier to comment on the issue of limits to foreign buyers of BC real estate.  This article say’s she’s sitting on the fence, but her quote seems to pretty clearly have a message for struggling first time buyers in BC:

“By trying to move foreign buyers out of the market, housing prices overall will drop. That’s good for first time home buyers, but not for anybody who’s depending on the equity in their home to maybe get a loan or use that to finance some other projects.”

Which category do you think holds about 70% of the voting population?

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patriotz
Member

@21: “If they’re not planning on selling anytime soon, then why would they want higher property taxes”

They don’t get higher property taxes. We’ve gone over this.

“and to have to get a HELOC to help their kids buy into an overpriced market.”

Because once the get the kids to buy in they have multiple properties between them and they gain even more from increasing prices. And prices always go up, right?

crusty clown
Guest
crusty clown

She is a hoe bag dirty dirty hoe bag yes you Crusty Clown

patriotz
Member

Remember when: What have we learned from the 1980s and that 21% interest rate?

A return to the sky-high interest rates of the 1980s isn’t likely in today’s economy, reports Richard Blackwell, but it wouldn’t take much of a hike to play havoc with the finances of today’s homeowners

Polozi Scheme
Guest
Polozi Scheme
http://www.cknw.com/2015/05/12/75817/ Vancouver’s housing market has never been hotter and that has many residents concerned From rising prices excluding residents from purchasing homes, to vacant properties decimating neighbourhoods, many Vancouverites are calling for some kind of regulation on foreign home ownership. Prince Edward Island restricts how much property non-residents can own. In Canada, foreign homebuyers are treated much the same as Canadians, although they may face higher property or transfer taxes. The only province in Canada that regulates home ownership is Prince Edward Island, which restricts non-residents of the island province from owning more than 5 acres of land or more than 165 feet of waterfront without special permission. So what are the options? Here are some examples of the ways in which other countries are working to protect their residents, and restrict foreigner buyers from snapping up properties in hot… Read more »
Yunak
Guest
Yunak
joe
Guest
joe

From the article:

By trying to move foreign buyers out of the market, housing prices overall will drop. That’s good for first time home buyers…..

Don’t first time home buyers need help the most? Or am I missing something?

Wearehere
Guest
Wearehere

BC Premier has a message for first time buyers…. :”Fuck you!’

w
Guest
w
vangrl
Member
vangrl

“They don’t get higher property taxes. We’ve gone over this.”

property taxes go up when assessed value goes up, do assessed values not go up when prices do?

don’t get all nasty with me, I’m just asking

vangrl
Member
vangrl

you know it’s weird in your hood when it becomes newsworthy that a local was able to purchase a home on the West Side

http://www.vancouversun.com/business/Barbara+Yaffe+Realtors+devising+creative+strategies+bidding+wars/11047711/story.html

Polozi Scheme
Guest
Polozi Scheme

@vangrl – from the bottom of your last article:

Politicians also fear accusations of racism, lethal in multicultural Vancouver.

Burnaby-Douglas NDP MP Kennedy Stewart this week set himself apart, issuing a news release stating: “Housing prices have skyrocketed in the Lower Mainland and we are facing a serious shortage of affordable housing.

“We need to understand the extent to which high prices are being driven by investor speculation.”

Stewart wants Ottawa to probe investor speculation and housing vacancies.

livid
Guest
livid

Following her address to 1st time buyers BC Premier delivers address to young middle-class families..

“Fuck You too….!”

Best place on meth
Member
Best place on meth

So Crusty just accidentally, in a round about way admitted that foreigners have been driving up real estate prices in Vancouver and she doesn’t want to rock the boat.

It’s not surprising that the bitch would slip up and let it be known that she’s been selling out the people she’s supposed to be representing, I’m sure she’s been getting paid under the table from multiple foreign sources.

By the way, has she been spotted with a new boyfriend from Shanghai recently?

FAMILIES FIRST!

space_cadet888
Guest
space_cadet888
Bo Xilai
Member
Bo Xilai

Christy Clark is a lying cheating CU Next Tuesday.

Always has been, always will be.

crikey
Guest
crikey
vangirl#34 said ” property taxes go up when assessed value goes up, do assessed values not go up when prices do?” Generally speaking it works something like this – the city of Vancouver sets an operating budget for the year, then divvies up that budget proportionally to taxpayers according to their assessed values. So if hypothetically everybody’s home in Vancouver were worth the same amount, regardless of whether that amount is a million dollars or a single dollar, the property taxes would be the same. Of course, everybody’s assessed property values are different, so their taxes are different. But generally speaking if everybody’s assessed values were to go up, or down, in unison, property taxes are not be affected. It is when a property assessment goes up or down in a way that is different from the rest of the… Read more »
squeak
Member
squeak
From previous blog, #3, Royce: “Start taking concrete steps towards moving away, particularly if you are in an in-demand profession that older people need (e.g. medicine) or it involves moving their grandkids to a non-trivial distance away and it starts to register.” I wonder really if it is a good idea to be old in this province anyways. Trust me, I am looking very much at getting out of BC, the health care is in shambles here. Where I am working we have rodents, bugs,shortage of wound care products, gowns that are ripped to shreds, busting pipes, shrinking portions for the dear old souls, but somehow the high ups are making good dough, very good dough to my understanding. Possibly money from the 100K/year transit security could be funneled into actual hands on health care? Who is more at risk:… Read more »
southseacompany
Member
southseacompany

“Five charts that explain why the global bond market is melting down”, Financial Post

http://business.financialpost.com/investing/five-charts-that-explain-why-the-global-bond-market-is-melting-down

“More than US$450 billion has been wiped out across global bond markets in the past few weeks and, for many people, there doesn’t seem to be any particular reason why.”

southseacompany
Member
southseacompany
“Interest rates may rise faster than Bank of England Governor Mark Carney is expecting”, The Independent, UK http://www.independent.co.uk/news/business/comment/hamish-mcrae/interest-rates-may-rise-faster-than-bank-of-england-governor-mark-carney-is-expecting-10248691.html “If the Bank of England is to be believed the first rise in UK interest rates will come sometime next year and the subsequent increases will be gradual.” “Well, they may be right and in any case it is rarely a good idea to bet against central banks. But there is a case to be put that the rise in UK interest rates will be sharper than the markets, or the Bank, currently expect. It goes like this.” “The starting point is that whatever happens to global rates will profoundly affect what happens to our rates.” “Naturally there is and will continue to be divergence, but the US and UK need pretty much the same level of rates and as growth picks… Read more »
southseacompany
Member
southseacompany
CBC News: “Stephen Poloz may let inflation creep higher: Don Pittis” “Bank of Canada governor may prefer an inflation bump to the damaging impact of higher interest rates” http://www.cbc.ca/news/business/stephen-poloz-may-let-inflation-creep-higher-don-pittis-1.3070933 “You might be surprised to hear that the concept of raising or lowering interest rates to freeze inflation at exactly two per cent is a relatively recent innovation. It was put in place in reaction to the soaring prices and wages of the 1970s and 1980s. ” “And the Bank of Canada has been seriously considering changing that target.” “In the short term, an increase in the target rate would mean Poloz would be in no rush to raise rates if the increase in the cost of living began to creep up.” “At first blush, that sound good, especially for the sake of the short-term economy. Businesses and homeowners could continue… Read more »
RFM
Guest
RFM

Oh, the headache…………….so many divergent points of view………..

Let me just take a little break from all this and

actually ENJOY LIFE!

https://www.youtube.com/watch?v=M4MhGR4eQRY

Wearehere
Guest
Wearehere

If you want to contact the Premier and tell what you think of her callous statement that basically FTB don’t matter and we should sell our whole Province

Email Address
premier@gov.bc.ca

Mailing Address
The Honourable Christy Clark
Premier of British Columbia
Box 9041
Station PROV GOVT
Victoria, BC
Canada
V8W 9E1

Phone Number
(250) 387-1715

Fax Number
(250) 387-0087

Wearehere
Guest
Wearehere

OVER 20,000!!!!

https://www.change.org/p/premier-christy-clark-mayor-gregor-robertson-mayors-and-city-councillors-of-the-gvrd-restrict-foreign-investment-in-greater-vancouver-s-residential-real-estate-market/u/10324691

Lets keep pushing it.

The higher it goes the less this stupid politician will be able to ignore and even Gregor-I-am-having-fun -with-my-new-girlfriend who’s mother is a money launderer will have to open his mouth and say something.

Wearehere
Guest
Wearehere

@ BPOM

That is the modus operandi of these scum ball politicians.

First they say: ” What’s all the fuss about? Of course off shore investors are not driving up our real estate

Then they say, with a straight face: ” We cannot restrict foreign investors or prices will collapse”

vangrl
Member
vangrl

#41

thanks Crikey