“Canada urgently needs to pivot back towards sound money principles and adopt policies with respect to the real estate market that puts the interests of all Canadians, including future generations, first. Most importantly, the next government in Ottawa has to stop relying on a buildup of household debt as a means to keep our economy going. There is no point in chest pounding over central government balanced budgets during a period in which financial risks are merely being moved onto family balance sheets.”

Harper economics: running on debt and easy money

https://canadianinsider.com/blog/harper-economics-running-debt-and-easy-money

(Aug. 11, 2013)

“Three-quarters of all Canadian mortgages are insured by the federal government, up from only 30 per cent in 1988. Ottawa guarantees a total of $900-billion worth of mortgage insurance.”

After decades of stoking mortgages, Ottawa in a mess of its own making

http://www.theglobeandmail.com/report-on-business/economy/housing/after-decades-of-stoking-mortgages-ottawa-in-a-mess-of-its-own-making/article13705668/

A few months ago I said “minority conservative government after the election”. Could I be wrong?

Go, Mulcair, Go.

Canadians might be paying less for gas, but they are paying a lot more for food
http://business.financialpost.com/news/economy/canadians-might-be-paying-less-for-gas-but-they-are-paying-a-lot-more-for-food

@ #6
it would only add to the cost of doing business but not act as a major deterrent (like the fines for illegally knocking down trees in the darkness of night)

@bullwhip29: Better than nothing. Add this to empty-house taxes and/or just plain increase of capital taxes, maybe some other means of taxation I’m not thinking about, and you’ll eventually get quite bundle from foreigners.

For locals, the goal of that whole invasion should be to at least fill the city treasury with foreign money. Keep the taxes low and services high while funding those services with foreign money. This is kind of the political holy grail: tax those who can’t vote to give to those who can.

If they’re gonna invade the country legally, at least make them pay for it.

@ #9

a vacancy or pied-a-terre type tax makes more sense if you intend on targeting foreign investors only but i doubt the folks in charge have got the stones to actually follow through on such a proposal (nor will they have a feasible plan to implement this without having to deal with numerous privacy issues). imho too many high up on the food chain have a vested interest in keeping the property market bubble fully inflated. perhaps locals will be tossed some crumbs one day in the form of some sort of break on transfer taxes, prop tax grants and the like.

Why not make the demolition fee $50K? $100K? Or just plain ban demolition period.

Portland residents can have fun live in old, old, old, old houses as people find it just not worthwhile to demolish and build new, but at the same time also likely not able to continuously renovate the existing tired housing stock to keep up with the times.

I’m not sure what the point of demolishing perfectly good houses is anyway. The east coast is full of perfectly good houses that were built before vancouver was enven founded. Europe is full of 300+ years old houses (more than 3 times the age of vancouver) that are great.

I say quit building shitty houses in the first place and demolition won’t even be a problem.

@elvince – Wood houses in a wet climate tend to rot or at least go mouldy. If we weren’t in an earthquake zone then brick/concrete which lasts much longer would be much better for long lasting values.

However, with all things, eventually there is a limit to how much you can upgrade/modernize something before it is simply easier and cheaper to just tear it down and start from scratch.

As for shitty quality, the problem is people are complaining about the prices of shitty quality product, how do you expect them to afford high quality stuff that is going to cost way more?

#17 space I don’t think you have any idea what you are talking about. Other than your last comment.
New builds are all about the basement suite and laneway house.

@space: Vancouver’s climate isn’t any harsher than Montreal’s -30C winter to +35C summer, or Spain/France’s Mediteranean climate. The east coast is also quite damp 6-8 months/year. Even if water was the problem, there’s no reason the same house built in Vancouver wouldn’t last at least half as long. If it gets too humid, add a dehumidifer or heat/AC the place, it’s gonna get dry.

Unless it’s too ugly to make anything with it (think Van Special), then it’s stupid to bulldoze a house. Either the construction itself is crap or it’s just an excuse to buid basement suites and laneway houses.

China Air-pollution is the worst in the world no wonder Chinese want to come and live Vancouver

Air Pollution in the World: Real time Air Quality map

http://waqi.info/

http://www.dailymail.co.uk/sciencetech/article-3239920/How-polluted-city-Map-shows-minute-harmful-smog-levels-world-reveal-health-risk.html

the irony of Chinese pollution vs Canada relatively pollution free, is that the Chinese wouldnt vote Green unless yo talkin US greenbacks. I mean their brains arent capable of comprehending an abstraction like coming to Canada because its clean, and therefore rewarding the Green Party in this election because of superior environmental values. Sorry if this offends anyone, but i dont think the Green party will win any votes from Chinese escaping Asia because of unlivable conditions… maybe a few votes, but not many