Investigative Journalism is alive and well

Channel 4 in London has done an experiment on estate agent reactions to potential buyers using obviously ill-gotten gains. The results were predictable:

In a documentary called From Russia With Cash, to be broadcast on Wednesday, two undercover reporters pose as an unscrupulous Russian government official called “Boris” and his mistress “Nastya” whom he wants to purchase an upmarket property in London for.

The couple – Russian anti-corruption campaigner Roman Borisovich and Ukrainian investigative reporter Natalia Sedletska – view five properties ranging in price from £3m to £15m, on the market with five different west London agents, in Kensington, Chelsea and Notting Hill.

Despite being made aware they are dealing with ill-gotten gains, the estate agents agree to continue with a potential purchase. In several instances the estate agents recommend law firms to help a buyer hide his identity.

One estate agent names a “very, very good lawyer … the last person I put them was another minister of a previous Soviet state” in a deal worth £10m.

The estate agents suggest that in the capital secretive purchases of multimillion pound houses are common. One claims that 80% or more of his transactions are with international, overseas-based buyers and “50 or 60%” of them are conducted in “various stages of anonymity … whether it be through a company or an offshore trust”.

Read the full article here.

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realist
Member
realist

@88 Shut It Down Already
“realist, stop assuming that everybody richer than you is a criminal.”

I don’t assume that. But I know it to be true in certain instances!

Criminality is part of the human condition. But in Vancouver, not so very long ago, most people made their money locally by way of legitimate, tax-paying enterprise. Rich immigrants were a rarity, except for the wastrel remittance-man types. Contrast that picture with what you see around you today.

Shlomo
Guest
Shlomo

#56

> There is no mixing among the different ethnicities…

I thought you were Indian and married to a Caucasian girl, and you had kids. Clearly, there was some “mixing” going on, or you’re even weirder than we think.

I really feel bad for your kids. It’s one thing to be a demented loser spouting off anonymously on some internet forum, but your kids are innocent and precious, they shouldn’t be exposed to and infected with your issues.

Shut It Down Already
Guest
Shut It Down Already

realist, stop assuming that everybody richer than you is a criminal. You’ll live longer. Trust me.

Best place on meth
Member
Best place on meth

“Soaring Vancouver home prices spur anger toward Chinese buyers”

http://nypost.com/2015/07/09/soaring-vancouver-home-prices-spur-anger-toward-chinese-buyers/

Ulsterman
Member
@Vangrl 33 I have a friend who lives much like the friend you described. However, he is just about to bed over and take it hard from the Musqueam. He bought about 5-6 years ago, paid about 500k, got the 4000sqft home. Pays COV taxes and about 850/month lease to Musqueam. There are some other small charges on top of this. He was happy because he got to live near UBC in a large home. Fast forward to today. The Musqueam enlisted Deloitte Consulting to determine what the new lease should be. It renews every 20 years. The last time was back in 1995 and it went through the courts until about 2000. Well…my friend accepted when he bought that the lease may double. He could afford this. He didn’t count on an 800% increase. Now they are still in… Read more »
realist
Member
realist

@ 82 Best place on meth “This however is not real Chinese culture – you can only find that in places like Taiwan, Hong Kong, Singapore and any place around the world where there is a deep-rooted ethnic Chinese community like here in Vancouver.”

Well said. As a non-Chinese, I would like to comment about Vancouver’s “deep-rooted ethnic Chinese community”…I experienced, I learned, I admired, I remember. Thank you! It is a pity that this community has been all but submerged by immigrants from China whose roots were destroyed by one of the most horrific authoritarian regimes invented, so far.

joe
Guest
joe

Coach Profit Plunges, Hurt By Dollar, Competition

http://www.wsj.com/articles/coach-posts-54-drop-in-profit-1430225433

w
Guest
w

CTV’s coverage of excitement outside Coach outlet store. Lots of pushing and shoving.

http://bc.ctvnews.ca/video?clipId=653845

Best place on meth
Member
Best place on meth
@george “Those people on CTV news pushing and shoving to get into the stores at the new mall should be ashamed of themselves.” First of all, mainlanders have no shame. They were raised under the leadership of corrupt thugs and behave accordingly. Secondly, pushing, shoving, general rudeness IS part of their culture. This however is not real Chinese culture – you can only find that in places like Taiwan, Hong Kong, Singapore and any place around the world where there is a deep-rooted ethnic Chinese community like here in Vancouver. The communists killed real Chinese culture on the mainland three generations ago, all that remains are these shameless locusts obsessed with showing off how much money they have. Thirdly, let’s not talk about the BEHAVIOUR of the people of any particular country because it’s RACIST. This is exactly what happened… Read more »
Yunak
Guest
Yunak

@75

These people have no manners, with all the pushing and shoving. You really do not see other ethnicities in Vancouver acting that way.

We got what we voted for. It is inevitable part in transition of becoming Chinese city. Type of culture, a norm. It should be taken as expected and recommend behaviour of majority.

YLTN@vacation
Guest
YLTN@vacation

@76 Saving face is all about not looking poor. Pushing and fighting to buy luxury goods is a good thi, so much money you have to fight to spend it!

Yunak
Guest
Yunak

Ehh… If they were Chinese and perhaps considering buying house or two, visa wouldn’t be a problem…

http://www.huffingtonpost.ca/2015/07/09/doaa-mohamed-mom-wedding-vancouver_n_7764672.html

Oracle
Guest
Oracle

Some loser posting as me on GTs blog. Can you guess who it is? Me thinks some wannabe realtor.

BTW, I don’t post on censored blogs.

realist
Member
realist

@ 65 Mortgageslave “…the same losers are constantly posting the same shit over and over. I guess if sales are down SPAM! Damn you’re a bunch of losers! See ya next week! haha..”

Madam/Sir, I know from your comments that you are intelligent and can be thoughtful. You do mostly yourself, and then also this blog, a disservice by this sort of commentary. In truth, you have some, but incomplete, knowledge of who reads and posts here. Most are here because they wish to better understand. They do not deserve mockery.

George
Guest
George
One more thing. I always hear about how ‘saving face’ is such an important part of Chinese culture. This mean Chinese care a great deal about impressing other people, putting on good appearances, and avoiding embarrassment and shame. Those people on CTV news pushing and shoving to get into the stores at the new mall should be ashamed of themselves. So how does that square with the desire to save face? This is a serious question for those who understand Chinese culture better than me. We’ve seen so many examples of deplorable behaviour in public (the boy urinating in a garbage can in a mall held up by his mother, as an example). Wouldn’t these people lose face after being shown on the evening news as an out-of-control pushy crowd? This was not a flattering portrayal of them on the… Read more »
George
Guest
George
@ Son Of Ponzi #48 “Locusts are descending on new Luxury Mall near YVR causing traffic chaos.” I just watched CTV evening news and the scene at the new YVR mall they showed was totally predictable. It was crowds of people (mainly Chinese, just saying) pushing and shoving to get into one of the stores and a security guard having to yell and them to get back. It looked like complete pandemonium. The roads and overpasses leading to the airport were complete gridlock. One of the courier companies had a sign out saying packages had to be dropped off early because of all the traffic chaos. This was absolutely 100% predictable. I knew it was going to be like this. I saw all the ads about the new luxurymall at YVR and I know it would be a magnet for… Read more »
patriotz
Member

China’s market crash signals crisis of faith in authoritarian system
Seems there’s more faith in the Chinese economy in Vancouver than in China itself.

w
Guest
w

@71

British Columbia to lock out teachers beginning Monday
MAY 21, 2014

B.C. school shutdown has China ‘concerned’
SEPTEMBER 10, 2014

B.C. teachers, employers reach tentative deal
SEPTEMBER 16, 2014

Best place on meth
Member
Best place on meth

“Families first” means that FAMILIES are the FIRST people Krusty prefers to hit up for taxes rather than the real estate flippers and locust money launderers.

You don’t tax those lowlifes, they contribute the most to her campaign fund and are untouchable.

joe
Guest
joe

“Families First”
Does that refer to local families or foreign?

paulb
Member

New Listings 227
Price Changes 63
Sold Listings 221
TI:12868

http://www.paulboenisch.com

realist
Member
realist

@ 53 Shut It Down Already Says:

“Any expert would say that any investor of any nationality was looking for a safe place to invest.”

Indeed they do, and reasonably so. The question is: who pays for the safety? Anyone who has dealt with our justice system will know it doesn’t come cheap. Is it my duty as a Canadian taxpayer to pay for the rule of law so that the world’s investors can park money here safely? moreover, often dirty money? And even were it clean money, is it to my benefit? your mother’s? your child’s? If I am engaging in charitable activity, I want a tax receipt!

doc
Guest
doc

Hi All,

Given that my comments at 41, 42, 43 were promptly voted down, I will now suggest the complete opposite of what I mean.

1. Never buy real estate in YVR, the bears have been right for the past 10+ years. VHB, etc capitulated years ago and am sure are/is regretting their decision.
2. If you have a down payment and can afford to buy, don’t. Rent instead.
3. If you are young and understand the risk of buying in YVR, don’t, it’s too risky.

Slagathor
Guest
Slagathor

…in what it considers to be the fairly unlikely event of a big housing bust, taxpayers could be on the hook for as much as $9 billion….

I’ll risk it.

realist
Member
realist

@ 56 oracle “These ethnic ghettos all over the lower mainland are a symptom of racism.”

There are ways to view this phenomenon other than the r-word. Birds of a feather flock together, etc. In a mixed flock of sheep, those of the same breed tend to stay close. I have even observed Vancouver Island folks sticking with other Vancouver Islanders, rather than Lower Mainlanders! The government of Singapore is well aware of this phenomenon, and has taken measures to prevent the entrenchment of ethnic enclaves. But of course, such considerations are not needed here(sarc!)