Guess what time it is?
Its Friday free-for-all time!
This is the open topic discussion thread for the weekend.
Post your news links, thoughts and anecdotes below and have an excellent weekend!
106 Comments
89, my exposure to RE is a tiny fraction of my net worth. Try harder next time. Oh, and try not to make up a new name when posting a criticism of others you suspect share handles. I’m still waiting for somebody to define “foreign” in the context of any new taxes, by the way.
Not to be a negative Nancy, but what’s the best possible outcome to these proposed changes to taxation structure? As far as I’m concerned, the damage has been done. Be smart like Patriotz and GTFO while/if you can.
PS – according to the CBC the turnout was in the hundreds … clearly sends a message that the majority couldn’t care less.
Ironically the SCMP has been in the forefornt of reporting our RE issues and were never afraid to say clearly that Chinese Illicit money was driving the high end and commercial RE market into the stratosphere, even while our local media kept silent on the matter. Though finally they are trying to play catch up
The SCMP reporter / blogger was at the protest and you can see the pictures at the twitter link.
“Bank of Canada likely to maintain key interest rate”, Globe Advisor
https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20150525/RBCDLOOKAHEAD
“The Bank of Canada looks set to stand pat on interest rates in its latest policy announcement this week, as it waits for the fog to clear on what has been a murky first few months of 2015.”
“The consensus of economists, as well as financial markets, is that Canada’s central bank is all but certain to maintain its key interest rate at 0.75 per cent when it announces its latest policy decision Wednesday morning.”
“Don’t expect the Bank of Canada to follow the Fed’s lead on interest rates”, Financial Post http://business.financialpost.com/news/economy/dont-expect-the-bank-of-canada-to-follow-the-feds-lead-on-interest-rates “The U.S. Federal Reserve can be a hard act to follow. The world’s most powerful central bank, steering the world’s biggest economy, need only sneeze to have financial markets sit up and take note.” “Sometime soon — perhaps in September, maybe year-end, and with QE now wound down — U.S. policymakers will begin loosening their grip on the bank’s key lending benchmark ” “Even more than other industrialized nations, Canada relies heavily on the U.S. for trade and investment. Any change in monetary policy south of the border will flow into this country as U.S. companies and consumers ramp up spending — and take advantage of the weaker Canada dollar.” ““We have the Fed very gradually raising its U.S. fed funds rate in… Read more »
1) The media is talking about the rally. the next one will draw 5000
2) We are just over 500 short of our 25,000
3) Re Rennie. Why does the press give his opinions so much coverage?? Do we get our traffic advice from car salesmen
4) PEI is acting but our bought and sold politicians refuse to
https://cityhallwatch.wordpress.com/2015/05/18/prince-edward-island-foreigners-checked/
It seems the rally has galvanized not just our impotent politicians into action, not that we expect anything from those in power, but also realtors.
http://www.shuchatgroup.com/Blog.php/affordable-housing-3-steps-in-the-right-direction-for-canada
On the face of it, his suggestion seems to have some merit: not allowed to buy RE in Canada unless you’ve paid income tax in Canada or lived here for x number of years.
What do you guys think?
> Tell them doctors proficient in English are leaving and won’t stick > around for the privilege of buying a seven figure condo. It does get a > reaction.
Brilliant! Social engineering gems abound on this site.
Another one I love is casually mentioning how it’ll be so tragic when the grandkids live in Halifax or St. John’s and the grandparents can’t just pop over for a quick visit.
@89: Laughing pretty hard that you think I’m those other posters. If you have ready anything I have ever posted, you would know that I believe that foreign buyers are significant factor in this region. I take pains to point this out again and again. I have also never expressed opposition to or support for a foreign investor tax. Reading must be easy when you don’t sweat the comprehension, huh? I ask people for sources on the numbers they cite because it seems too often that the primary source is media releases from realtors, which are met with derision/cynicism in every other context. I want there to be good data on this. There’s no excuse for using shady numbers. (I also find it somewhat humorous that Landcor data, which for years were dismissed as under-representing foreign investment, are suddenly being… Read more »
Garth has way outlived his usefulness. After blogging for eight years about the housing bubble, he is mocking people for protesting. And that deluded fuck calls them arrogant for doing so!
Not about housing, but interesting whoops none the less. Fiscal heartthrob? Well whatever;
“‘Brexit’ blunder: Mark Carney faces grilling over Bank of England’s secret plan for U.K.’s exit from EU”, Financial Post
“Canadian fiscal heartthrob Mark Carney is set to face awkward questions from the U.K. Parliament after the embarrassing revelation that his Bank of England is secretly planning for Britain’s exit from the European Union.”
Did anyone else see Bob Rennie at the rally today? He was wearing a clown costume so he would blend in with the protesters . lol Dear protesters I am pissed that the Porsche and MB are unaffordable and I want the city and province to step in and do something about it. Whine all you want if you can’t afford to live in Vancouver move to somewhere you can afford. Like Hope. HOPEFULLY YOU CATCH MY DRIFT
What a shock (sic)! At least two on here are so obviously pissed at the success of the rally. You can almost feel the angst. And..its two who portray themselves as bears! Zero Down Forty or Joe or Royce or whatever he’s called today has a fit of rage the moment anyone dares suggest its not ALL about cheap credit. We all agree that cheap credit is a huge factor, why does it have to be all or nothing with you?! Hmm. ‘Shut it Down Already, if he’s not the same guy as any of those above, bursts into similar indigence as soon as anyone dare mention a foreign investor tax. What I do know for certain is that four or five posters have spent the best part of two days turbo-posting and trying to get their ‘message’ across. A… Read more »
@ 87 are you Bob Rennie posting under Shut it Down Already.
Until now you were our resident HAM denier now you have moved on to with and sarcasm of others efforts
Lets see how many people you can muster for a ‘we-love-HAM’ event.
85, and I imagine half of those 500 were either curious tourists or children.
Hong Kong and Singapore have slapped a 15% tax on non-residents and people buying through companies (which is often a money laundering vehicle)
We WILL FORCE THE POLITICIANS to act !
So far we have a few MLA’s brave enough to say something. Diana Day was there getting support for her efforts to get the Mount Pleasant NDP nomination.
There is movement on this issue. This city (and Toronto) doesn’t have to be come a developer’s whore or a laundered money haven . It can be changed.
It needs persistence.
500 at the rally?
Over 40,000 home sales a year in Metro. More people bought homes this week than attended the rally.
The unfortunate truth.
Look at all the tweets about the rally today:
https://twitter.com/search?q=%23donthave1million&src=tyah
Good for us, and the younger generation using social media to spark this awakening. Let’s show those boomer fuddy duddies how it’s done.
500 people this time, next time 5000
@ 33. Unfortunately, there were more people protesting at the art gallery in that old 70’s movie clip than there were today.
BTW, that was ‘Russian Roulette’ was it not? I remember seeing it on late night TV as a youngster. Great shoot out scene on the Hotel Vancouver roof, RCMP vs KGB. Van sure has changed. So has the world.
#19: “A Vancouver Sun story recently noted that the average time between the purchase and the selling of a piece of property in West Vancouver was only six months, with asking prices going up by 40 per cent in that time frame.” Slapping myself on my forehead: Oh my god, I am such an idiot! I should have quit working in health care years ago and became a flipper or realtor. How stupid can one get?? I bet flippers get to pee more often than I do, and eat at work. I am lucky if I get the time to use the bathroom, and what is a coffee break ? Lunch may be just a wolfdown in 10 min. I vaguely remember Christmas..(employment is government not private) But that is what you get for being stupid. Ooh Alberta/Manitoba/Saskatchewan..will you take… Read more »
Speakers at the RALLY
COME NOW lets make it big and get it a big spot on the news
Speakers:
-Paul Kershaw, founder of Generation Squeeze
-Eveline Xia, founder of #DontHave1Million affordable housing Twitter campaign
-Saeid Fard, author of blog post “The Decline of Vancouver”
-Wes Regan, citizen journalist at the Vancouver Observer
-Tony Roy, Executive Director of BC Non-Profit Housing Association
-And additional speakers to be added!
We will defeat the forces of self interest , greed and misinformation
672 needed to get to 25,000
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
SEE YOU AT THE RALLY. I AM LEAVING NOW
https://www.facebook.com/events/419315721574615/
I posted this all on Garth’s blog under Wearehere and he actually allowed it to be published. I said we were gaining momentum in BC and the politicians would have to take notice and we have already made them talk about it from waving it away. Soon we will force them to act.
All he could say was that I was naive
Let them see who we are all the colours that live in this city, all the backgrounds, all tax-payers…. sick of a small elite selling our city (and country) out. ENOUGH ALREADY!
Let’s go ahead and put a big tax on land speculation or prevent creative accounting to avoid existing ones. From GF. #18 dutch4505 on 05.24.15 at 10:18 am The increase of housing is a reflection of higher land costs. Although construction costs are higher each year the main culprit is land costs. Note that in the lower mainland of BC there is an estimated two thousand acres of non Agricultural Reserve Land (ALR) being held for development between Chilliwack and Richmond/Delta and Surrey. Developers can hold land for future development and therefore restrict the supply of land and thereby increase land costs. The difference in BC is that developers can avoid a major holding cost such as property taxes. This is done by enrolling in a government program of farm class. Producing receipts of 2500 in agricultural sales (ie sale… Read more »
“POST HOC RATIONALISATION – REASONING OUR INTUITION AND CHANGING OUR MINDS”
“The problem isn’t that people don’t reason. They do reason. But their arguments aim to support their conclusions, not yours. Reason doesn’t work like a judge or teacher, impartially weighing evidence or guiding us to wisdom. It works more like a lawyer or press secretary, justifying our acts and judgments to others.”
“We compete for social status, and the key advantage in this struggle is the ability to influence others. Reason, in this view, evolved to help us spin, not to help us learn.”
“Of course, this is disheartening for people like me who set out to change people’s mind through rational discourse, presenting empirical evidence in the process. What this actually appears to do is entrench people in their original beliefs, rather than change their minds. “