By-election: What do politicians say about housing?

Patriotz pointed this out in the weekends open topic thread:

Tomorrow there will be provincial by-elections in Van Mount Pleasant and Coquitlam Burke Mtn. Both former MLA’s ran in the recent federal election – for the NDP (won) and Conservatives (lost) respectively.

What do the candidate websites have in common? None of them have anything to say about housing. For example in Coquitlam Burke Mtn which is the only real contest:

http://www.jodiewickens.bcndp.ca/issues
http://www.bcliberals.com/joanisaacs/

However I think this bizarre paragraph by Issacs on “Sharing Economy, Growing BC Tech” is notable:

I will advocate for a Sharing Economy to optimize new services for families – the Ubers, the AirBnBs, the Lyfts. A diverse economy means being open to new ideas and technologies. A Sharing Economy encourages the tech sector in BC, which helps create jobs and generates investment. It starts by giving British Columbians the freedom to participate as entrepreneurs or consumers or both!

So BC’s high tech future is operating your car as a taxi or your house as a hotel!

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

electronic money is coming. when you convert your cash to emoney any money that can’t be accounted for will be confiscated. windfall for government.

immigrants who know the way the world works will see this coming a mile away and dump any black money they have into real estate.

space889
Member
space889

@BBB – How is it mysterious when you are already the name and identity of the donor?! Geez…this is about as open as you will get in Western democracy bribery known as campaign donations.

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

>How is it mysterious when you are already the name and identity of the donor?

it’s mysterious because about this person except for their name and address. despite making very large contributions to a party in another country, almost nothing is know about them or publicly available in English.

Cooldeep
Guest
Cooldeep

Bullish?

Is China’s Market Turmoil Creating A Rise in Canadian Real Estate Prices?

http://www.huffingtonpost.ca/ludovic-siouffi/chinas-market-turmoil_b_9101334.html

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!
southseacompany
Member
southseacompany

“Has the real estate bubble burst? Hong Kong flat prices return to early 2014 levels, experts say the drop will continue”, South China Morning Post

http://www.scmp.com/property/hong-kong-china/article/1908528/has-real-estate-bubble-burst-hong-kong-flat-prices-return

“Home prices for small flats in Hong Kong have lost 15-20 per cent of their value, and experts say another 10 per cent drop is possible”

southseacompany
Member
southseacompany

“Spring market kicks off early with first shot in mortgage rate wars”, Financial Post

http://business.financialpost.com/personal-finance/mortgages-real-estate/spring-market-kicks-off-early-with-first-shot-in-mortgage-rate-wars

“Meridian said it will start today with a 1.69 per cent mortgage available on a one-year term to anyone in Ontario — a rate it claims is the lowest fixed rate product on the market.”

“The credit union also followed with an attack against its banking competitors for raising long-term rates last year in what was described as a falling interest rate market for bonds which mortgages are priced off.”

patriotz
Member

http://www.theglobeandmail.com/report-on-business/top-business-stories/ontarios-new-prosperity-vs-albertas-anguish-the-disparity-in-6-charts/article28505453/

The Bank of Canada has already raised red flags about the borrowing habits of Albertans.

Mr. Lavoie and Mr. Lapointe flagged the recent decline in home prices as possibly leading to defaults, noting that “the share of highly vulnerable households in Alberta (those with a debt-to-income ration at 350 per cent or above) is similar to that in the U.S. in 2007.”

Of course, British Columbia is higher, and strikingly close to that 2007 mark. But, as Mr. Lapointe noted, its economy is growing.

BC is actually worse than the graph would indicate, because BC’s population is a good deal older than Alberta’s, and older households should be less indebted.

Also, note the US economy was also growing in 2007. Growing from what? Same thing BC is growing from.

patriotz
Member

Vancouver offers city land in bid for social-housing cash from Ottawa
Kind of like the 70’s, when CMHC funded non-profit housing in False Creek South.

Ray
Member
Ray

Are you still tweaking the layout? Logging in when you’re viewing a post takes you to some profile page with no way to get back to the post you were viewing before you had to login to reply. The threads are a mess, I can’t tell what’s a reply to what, there are boxes everywhere. Still praying for an unthreaded view, old to new, so I can get back to the view I once had that worked where you could actually leave the page loaded throughout the day and press F5 to see posts at the bottom of the page populate and continue reading.

VCI Admin
Guest
VCI Admin

Yes still tweaking – looking at a few options for comment threads. Trying to find the best option. I hear you on the simplicity of the old version – we may yet go back there, but can also see the benefits of being able to reply directly to a comment. Perhaps we’ll have a poll…

Ray
Member
Ray

Oh absolutely. Reading with threads is wonderful for your first-time through. But after that, threads are useless if the “Newest” sort excludes any replies on the earlier threads (which it does). At that point, you need to switch to an unthreaded view + Newest sort.

Oracle
Guest
Oracle

Some of you are totally naive regarding immigration. Clueless is a better word.

Here is what has changed from 10 years ago:

We have over half a million and growing population of TFW, IMP workers in Canada that are here and most have overstayed their visas looking for PR.

We have close to 400,000 foreign students in Canada and rising.

We have now 70,000 grandparents and parents here under the Supervisa program.

We have a couple hundred thousand Asians with 10 year visitor visas.

The visa requirement for Mexico will soon be lifted so expect 10,000’s of thousands from that country.

Finally , the regular immigration program. Gone up from 200,000 to 285,000 per year over last decade. But this is not where the problem is. See above.

Student, housewife, businessman...
Guest
Student, housewife, businessman...

This guy unfortunately doesn’t know what it takes to settle and have family in Vancouver if you aren’t filthy rich or some politburo-scumbag-investor-astronaut. Esetialy just bring in-laws or parents or all of them from Bejijing or Shanghai assuming they sold their apartment there and came over to enjoy services, Richmond swimming pool, fresh air and look after grandkids, quite simple…

http://www.huffingtonpost.ca/aaron-scott-hildebrandt/i-love-vancouver-but-it-doesnt-love-me_b_9131042.html

Student, housewife, businessman...
Guest
Student, housewife, businessman...

What kind of “student” does this? Although his name sounds as glorious “Best in show food festival”, maybe is something traditional, who knows?

http://www.huffingtonpost.ca/2016/02/01/husky-ate-gravel-charges_n_9133936.html

space889
Member
space889

I know!!! So dumb and cruel. He should just have put the poor dog out of its misery and then claim post traumatic distress syndrome like this guy:

https://en.wikipedia.org/wiki/Whistler_sled_dog_cull

FEDup
Guest
FEDup
Whistler or bust?
Guest
Whistler or bust?

More and more evidence points to the fact the DAM or HAM tap is being rapidly turned off.

If that is true we’ll see what this market is truly made of.

Whistler or bust?
Guest
Whistler or bust?
space889
Member
space889

Looks to be another tax grab on the way under the guise of “environmental leadership”.
http://www.huffingtonpost.ca/stephen-hui/bc-climate-action_b_9116512.html

paulb
Member

Where did the sales go??

New
320
Sold
42

http://www.paulboenisch.com

vangrl
Member
vangrl

That’s not typical of the 1st day of the month right? Just a listings drop usually? hey where is the inventory?

Thank again Paul for posting these stats!

paulb
Member

You’re welcome. Happy to 🙂

s
Guest
s

I’ve seen this before it’ll have some insane massive mid week numbers, unfortunately.

Many Franks
Member
Active Member

Looks like the Province is making busy.

BC Housing to gather numbers on foreign homeowners

BC Housing has announced that they are planning to gather numbers on foreign homeownership in the province in order to understand housing affordability.

The province has asked the group to examine key factors affecting home prices in B.C., with foreign ownership joining variables such as supply, the economy, and interest rates.

BC Housing told Vancity Buzz in an email that it will take approximately six months to gather the data, with the final report expected this summer.

I expect the provincial budget to help the BC Libs appear busy as well — though their stated position on preserving current valuations makes it clear they won’t do anything helpful.

tedeastside
Member
tedeastside

Patz points out vancouvers pathetic economy and how the BC Government has the worst record in North America at any kind of innovation or economic development

Interesting
Guest
Interesting
dyugle
Guest
dyugle
Euphoria. It is here and it is now. I did not believe that a totally overvalued market like Vancouver could manage the price rise required to reach the peak of the cycle before a recession comes to this city and takes the market down. All I can say is that right now all real estate investors and homeowners are thinking “Wow, am I smart”. My wife and here friend went to a free seminar this past weekend at the Wall center. The topic was investing in real estate. Basically the guy talked euphorically about how much money he made and told the audience that they all could be rich like him; a whole lotta “take my seminar!!!” stuff. Wife and friend enjoyed the free talk and free lunch and told me that the word “euphoria” would be best to describe… Read more »
ostritch
Member
ostritch

People are sheeple. Lemmings 90% of them.

ostritch
Member
ostritch

My comments seem to be landing one poster comment below where I intend.

space889
Member
space889
Rate hike maybe cause a recession as all the zombie firms are flushed out of the system, financial engineering of bad companies are destroyed, and a general good cleansing of the system. But afterwards, the economy will be on better footing with more efficient firms, and better incentives to save capital which can then be used for productive uses instead of financial speculation. ZIRP and NIRP have done nothing to help the actual economy or the average family. In fact, it makes things worse for them. If low interest rates are what grows the economy, I think almost 8 years of 0% rate would have done the job already. The best thing for the economy would probably be a gradual rise to 3% interest rate, and gov’t getting out of the private sector way by cutting stupid and useless red… Read more »
VanRant
Member
VanRant

Uh oh this couldn’t be good for Real Estate…..

The number of permanent residents moving to B.C. from China has fallen by half, to just over 6,000 in 2014 from 13,600 in 2005, according to Immigration.

http://www.vancouversun.com/touch/news/permanent+residents+from+china+drops+half/11688716/story.html

ostritch
Member
ostritch

Ya. But over 300,000 came last year on 10-yr visitor visa.

space889
Member
space889

Do foreign students count as PRs? How about all those parents/grandparents on 10 year super-visas? They generate housing demands too, and unlike before, they are tend to buy rather than renting basement or condo rooms.

Yunak
Member
Yunak
Henry Yu, a history professor at the University of B.C. who studies migration between China and Canada’s west coast, said the decline in permanent residents does not mean there are fewer Chinese in B.C. “What you’re seeing is the benefits of permanent residency have declined over time. It doesn’t mean there are less Chinese here. It just means that permanent residency as a desirable decision has declined, at times precipitously.” Yu points to the former Conservative government’s introduction of a 10-year super visa as “ground changing.” It is a bullshit illusion supported by some weird immigration statistic that there are less Chinese. It obvious that they dominate BC but perhaps do not bother going through immigration paths or else with all those long term visas which make them easier to get, less traceable and more”operable and efficient” by their rules… Read more »
Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

wow! that’s bad. the negative consequences must be reflected in real estate stats for 2014. if not, then surely 2015.

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

vancouverites have the city and government they deserve. vancouverites are generally idiots.

if you are reading this you are probably an idiot.

if your people came here from asia, india, post WW2 europe for a better life you probably aren’t an idiot.

if you were one of 12 kids, dirt poor canadian living in a small town in novasoctia and came here to work you probably aren’t an idiot.

if you are the child of professionals in ontario, moved here thousands of miles away from your friends and family to earn less money, have a higher cost of living, and worse career prospects you are an idiot. you are part of the reason why vancouver sucks. do everyone else a favor and don’t vote.

Cat in the hat
Guest
Cat in the hat

Then you have to assume housing is for people to live in. You still live in 2008?

Interesting
Guest
Interesting
“In 2015, Canada crossed a threshold. For the first time in our nation’s history, there are more seniors 65 and older than children under 15, and the gap between the two will widen for years to come. These two groups—seniors and children—are the future of the housing market. As they get older, seniors exit the market—one way or the other—while children grow up and enter. By 2035, there will be millions more “future home sellers” than “future home buyers.” Immigration at the present level of about 250,000 new permanent residents per year will fill the gap between sellers and buyers at the aggregate level. But immigration alone will hardly keep the construction industry in the style to which it has become accustomed. And what will happen to housing prices in areas immigrants find unattractive? What will municipalities do when their… Read more »
space889
Member
space889

And what reason is there that would prevent immigration level from being raised? Heck, we are getting a lot of new residents / semi-PRs who don’t even have to go through the immigration channels.

Lastly, baby boomers are living longer and staying in their big empty SFH house much longer than people are projecting. I wouldn’t worry about this seller/buyer imbalance for at least another decade.

patriotz
Member

Buyers always equal sellers. What changes is the price at which buyers equal sellers.

space889
Member
space889

And potential buyers and sellers have no effect on the market right?