Get outta town.

What happens when house prices keep going up and wages don’t keep up? Well, apparently you get young families shoved further and further out of the city:

“It’s getting to the point where you have to leave and find another job and maybe relocate,” she says. “I have friends who were lucky, they purchased three months ago and bought a home off the highway in Abbotsford for $475,000, and there’s no backyard. This is what it’s now become.”

Expensive housing is making it harder to find employees, not just in the office and restaurant business, but in the tech world as well:

“I just went through this. I asked a guy, ‘Would you come work for us?’ He lives in a $1-million house in Calgary and he’s a senior engineer. And he said, ‘there’s no way I’m moving there. I lived in Burnaby in the nineties, and I couldn’t buy that house again.’

“It totally shuts down the conversation. They say, ‘I know house prices. You guys can’t pay me enough.’”

Read the full article over at the Globe and Mail.

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Hyper-mega-Bull
Member
Hyper-mega-Bull

stocks, stocks, stocks, stocks!

paulb
Member

New
284
Sold
199
TI:8157

http://www.paulboenisch.com

Yup...
Guest
Yup...

Hi Paul – is this a daily number? Like 284 places sold (in the lower mainland?) today?

wwwww
Guest
wwwww
Diadora
Guest
Diadora

Looks like war with the chinese is closer than people realized.

ChinaOne
Guest
ChinaOne

my country will go to war with US one day. we are 1 billion strong. we are have money. we then buy everything after. Richmond ours now. Soon Vancouver ours. our earth.

中國有朝一日將統治地球

crabman
Guest
crabman

People useless against superior technology. NATO military budget > 5 times China. You lose, solly Challey!

GreenSalad
Guest
GreenSalad

Lame duck Obama’s too busy golfing
They are trying to hurry stuff on before he leaves office.
They know Trump will kick their little butts….

Yunak
Member
Yunak

This case should have been given much more publicity in order to escalate situation and further acknowledge an elephant in the room. Kargut guy is a big Canadian patriot and hero but society isn’t ready and doesn’t understand that yet.

“Aside from English being spoken at council meetings, Kargut is asking for a resignation of all the members, a written apology and financial restitution.

The complainants have not decided how much money they are seeking but Kargut said it would be “enough to wake them up.”

He said win or lose he would be taking his fight to Victoria, in order to change the B.C. Strata Property Act to have English requirements included.

Kargut said Canadian legislative bodies have ignored language requirements for too long.

“They’re in fear of being politically incorrect.”

http://www.richmond-news.com/news/b-c-human-rights-tribunal-will-hear-richmond-strata-case-1.2177611#sthash.CgJufOXQ.dpuf

Yunak
Member
Yunak

Needless to say that Mr. Kargut pretty much summed up Vancouver reality and actual trend supported by local government in just one sentence:

“They’re trying to build a monocultural community and hoping that people who don’t speak their language and don’t have their cultural background will move out,”

Hyper-mega-Bull
Member
Hyper-mega-Bull

welcome to the sinosphere. stop watching netflix and start learning mandarin. your future depends on it.

wwwww
Guest
wwwww

So you’re saying that Bull! Bull! Bull! was right again?

Hyper-mega-Bull
Member
Hyper-mega-Bull

ultimately white people’s sense of superiority and entitlement will be their downfall. they think everything is going to work out in their favor, because in the past it has. what is it that patriotz used to love saying? “past performance doesn’t indicate future performance” or something like that…

Best place on meth
Member
Best place on meth

It seems that our American friends have learned that it’s best not to do business with the sleazy, back-stabbing Chicom filth.

http://fortune.com/2016/02/23/chinese-company-acquisitions-us-companies/

Meanwhile, our traitor of a premier wants to sell us out to them.

OpenCourse
Guest
OpenCourse

Cash easily raised by selling fake bills of exchange.
http://www.cnbc.com/2016/02/17/chinese-bank-hit-by-loan-fraud.html

Yunak
Member
Yunak

Contrary to Uncle Sam we’ll have to eat a lots of shit down the road thanks to our “visionary politicians” and their obsession with China’s “power”.

https://dogwoodinitiative.org/blog/canada2019s-first-chinese-fipa-case-in-the-making?mkt_tok=3RkMMJWWfF9wsRonsqvOZKXonjHpfsX56uUvWqO3lMI%2F0ER3fOvrPUfGjI4DS8JrI%2BSLDwEYGJlv6SgFTbfBMbNo1bgPWRk%3D

Diadora
Guest
Diadora

China is building an Army, Air Force and Navy to counter the US/Nato forces. They are now putting in missiles and radars in the man-made island in SE Asia. They are now militarized space, hacking our sites and stealing our National Secrets. And we call the Chinese our friends and let them invade our country with their dirty money. How we forgot, it was Mao and his army that our boys died fighting against in the 50’s and we let his people celebrate his birthday in Richmond!

space889
Member
space889
NOM NOM NOM
Guest
NOM NOM NOM

Space… it is interesting to note that it this video seemed to be catering to Japanese tourists. Their economic miracle petered out, I wonder if your peeps one seems to be showing early signs of the same.?

Hyper-mega-Bull
Member
Hyper-mega-Bull

the big difference is that the japanese weren’t desperate to escape japan with their black money and families.

Best place on meth
Member
Best place on meth

No, but they did buy up trophy properties at peak prices, only to have to walk away from them when their economy tanked.

http://www.nytimes.com/1995/09/12/business/japanese-scrap-2-billion-stake-in-rockefeller.html?pagewanted=all

space889
Member
space889

$5M more tax dollars going into a bike sharing program, must be good for the bike lanes & no parking spot condo units….

Oh, and the environment!

http://www.vancitybuzz.com/2016/02/bike-sharing-service-vancouver/

Hyper-mega-Bull
Member
Hyper-mega-Bull

guys, what’s the ‘straw du jour’ that’s going to break the camels back?

FlipFlop
Guest
FlipFlop

The camel is getting old. He doesn’t need more straw – he’s struggling with the load he’s currently carrying. I expect he’ll just collapse on his own after a couple more miles. Good news is, camel meat tastes better than cat food.

Best place on meth
Member
Best place on meth

War.

Hyper-mega-Bull
Member
Hyper-mega-Bull
Overseer
Guest
Overseer

Most people here know that it’s the government policies relating to immigration and capital inflows that are causing this housing mess. The problem is the majority can be so brainwashed that they don’t even know that their future is toast already.

Those that know redirect their anger at the Chinese as their open excess and anti-assimilation efforts does them no favors.

Make no mistake, a lot of locals are getting rich the expense of their neighbours. Courtesy of the the governments you elected.

And the NDP? Too late. The pawns of the development industry have been placed in that party too. My friend is an executive and he’s buying houses now. Think about it.

ChinaOne
Guest
ChinaOne

Your leader say immigration going up. More my cousin come and buy house. More immigrant want live Vancouver. Lots money back home. U not worry we buy detached only. U live in condo. We buy you rent. I go to No 3 road lunch today. Might go airport and fly to Hing Kong.

If immigration increase then $3 million house become $5 million house. Don’t hate me. We love Christy Clark and we love Harper and live Trudeau.

ostritch
Member
ostritch
Girl, please! (As they say in the US) The next Century is the Chinese century. Not the US. My theory: now here it is on a nutshell, is that we are entering a Chinese century. So we are thinking about the local real estate market in the wrong way. We’re waiting for it to make sense to us locals where the push to own land was never a pressing issue. There was always tons of it and the way we lived was a balance of owning and renting throughout our lives. You only really bought a house because you were going to have a family otherwise you just rented downtown in your bachelor years. Not so in China and other countries like Russia and India where land ownership is denied to all too many. In China, ownership rates are in… Read more »
Interesting
Guest
Interesting

This will be one post I will save for the archive. What a load of absolute garbage. There are so many things I could write but someone who could write something so stupid would never understand them.

In years to come this post will make me smile again and again.

Rather like this gem:

Citigroup CEO Chuck Prince told the Financial Times in July 2007: “When the music stops, in terms of liquidity, things will be complicated. But as long as the music is playing, you’ve got to get up and dance. We’re still dancing.”

Keep those feet moving Bull!

ostritch
Member
ostritch

You don’t have to like home ownership rates in China but you do have to accept them as fact.

Vanco
Guest
Vanco

This is probably one of the most inane and smug posts. How has your wisdom worked for you so far?

Even an idiot knows there are peaks/troughs in the market, whether its oil/real estate/stocks, etc. The hard part is plan your finance, maintain your life style, minimize risk and maximize return in this uncertain environment. Citibank CEO cannot predict the market, but neither could anyone (consistently and over a long period.)

space889
Member
space889

Tiny apartments unveiled at UBC
Self-contained apartments being built as affordable student housing

Read more: http://www.vancouversun.com/tiny+apartments+unveiled/11736943/story.html#ixzz4114xtSgA

Best quote of the article:
His friend Kennedee Fung agreed.
“Where I’m from in Asia, houses are famous for being small,” she said.
“And this is even smaller than the ones we usually live in. So it’s kind of ridiculous.

Yunak
Member
Yunak

It is demonstration of a blatant humiliation, cynically wrapped in “practicality and good intentions”. A cheap mockery targeting locals.

wwwww
Guest
wwwww
Middle Classist
Guest
Middle Classist

BC dictatorship needs this housing shitshow to keep going until elections…

I\'m With Stupid V
Guest
I\'m With Stupid V

You know the best part of this crazy hot market recently. All these new realtors who think they are hot shit because they hosted an open house and crazy people start bidding it up.

space889
Member
space889

And they are making major $$$ so they are hot shit.

I\'m With Stupid V
Guest
I\'m With Stupid V

Its true, they are making money now, but can the pace be kept up with the current surge? Time will tell.

FlipFlop
Guest
FlipFlop

It’s not the $$, it’s the 6 properties they each rent from the bank. Good thing values only move in one direction, or shit might get ugly one day.

No Money Down
Member
No Money Down

In the Los Angeles suburb of Arcadia, where Zhang is struggling to sell the six-bedroom home, dozens of aging ranch houses were demolished to make way for 38 mansions built with Chinese buyers in mind. They have manicured lawns and wok kitchens and are priced as high as $12 million. Many of them sit empty because the prices are out of the range of most domestic buyers, said Re/Max broker Rudy Kusuma, who blames a crackdown by the Chinese on large sums leaving the country.

http://www.bloomberg.com/news/articles/2016-01-26/at-3-68-million-this-california-home-has-everything-but-buyers

BPOE boyfriend
Member
BPOE boyfriend

NO Money Down – and your point is you are a bitter losa. Go back to your parent’s basement…

wwwww
Guest
wwwww

How are sales here doing? No need to guess, just look at the stats.

null
Guest
null

Chinese demand heats up Vancouver, B.C., housing market

http://www.bellinghamherald.com/news/nation-world/world/article61864237.html

null
Guest
null
ostritch
Member
ostritch

I’ll take any museum anywhere. But the best location would be science world. Who would put kids in an enclosed ball in front of the most enviable views in the city? Move the ball to the mud flats next to the train tracks.

Yunak
Member
Yunak

WTF… kind of criminals and gangsters we keep paying from a budget and tax dollar? It’s ripe for major shit cleanup…

http://www.immigrationwatchcanada.org/2016/02/11/henry-yu-believes-that-canada-must-become-asian-to-overcome-white-supremacism/

BPOE boyfriend
Member
BPOE boyfriend

Yunak – just the fact that you quote from immigrationwatchcanada.org indicates that you love Himmler
enough said…go back to your hole

boom
Guest
boom

Chinese are robots whose soul has been extracted by the Communist Party.
Their only friend is money.

history
Guest
history
http://www.immigrationwatchcanada.org/2016/02/22/no-more-boot-licking/ “There are much more prudent ways to show humanitarianism than to move the world to Canada. Canada’s immigration and refugee policies cannot exist for the benefit of immigrants and refugees. The big question is this : If Canada’s politicians do not look out for the interests of Canada and Canadians, who will? Will it be India’s Punjab, Mainland China or the Middle East? Many (but not all) people from these and other areas have demonstrated clearly that they are here for Canada’s booty and that they will claw for as much of it as possible. If Canadians are looking for evidence, they can easily see ample data. In the past six months, Statistics Canada has revealed that recent Asian immigrants live in mansions in parts of Metro Vancouver, but pay little if anything in taxes to support the many… Read more »
BPOE boyfriend
Member
BPOE boyfriend

History = you have a history of abuse young children, losa ?

Yunak
Member
Yunak
Right, it wasn’t ever easy to find good techies in the city but lately it’s becoming almost impossible. However whenever we open any tech position we get tones of resumes but they come from same people, Chinese coming either from some bogus universities from China or some local colleges where they came as post graduates from China on some sort of fast track courses. Even after completing those they still remain totally clueless, speechless and mainly useless, apparently attending those schools to get residence or other crap to “legalize” their presence in Canada. We tried with few of them to do interview and it was complete disaster, waste of time, they are useless and unemployable by any minimum of requirements and expectations. Not sure where this will take us as a community but if this going to remain our only… Read more »
BPOE boyfriend
Member
BPOE boyfriend

Yunak
and then you woke up with your dick in your hand realizing you just made a nice bitter I am a losa story and crawl back into your parent’s basement…do you want white wine with that ? Wait you are one….

space889
Member
space889

Geez…I wonder why??? Maybe cuz all the good ones went to MS, Google, etc in US?? Not some backward town that thinks it is world class but in actuality have no real job prospect?

btw, I came from UBC and unless things have changed, 90% of the local students also copies homework, cheat on time, and can’t write any decent programs after 4 years despite a straight A transcript. SFU is slightly better but still crap.

BCIT is probably turning out the better coders but then most of the coders can only code and don’t have any of the design/theory knowledge..

FlipFlop
Guest
FlipFlop

Educated at UBC. Didn’t see that comings asshat

BPOE boyfriend
Member
BPOE boyfriend

Flip Flop
and you are from University of I Slept with My Cousin ? banjo music for your school anthem ?

Best place on meth
Member
Best place on meth

Hey working class local losers, Queen Krusty doesn’t care about your silly little problems like putting a roof over your head or…you know…surviving, she’s got more important things to concern herself with.

“CHINA FAMILIES FIRST!”

BPOE boyfriend
Member
BPOE boyfriend

BPOM
Think your child abused memories are catching up with you fast
Banjo music…loser

Yup...
Guest
Yup...

I have to laugh. As I browse this page, I am presented with an ad for a new condo development in Burnaby. I can’t read it though as it is entirely in Cantonese except for the address.

Shut It Down Already
Guest
Shut It Down Already

Because the ads are based on your browsing history….

@space
Guest
@space

wow. 7K party coming.

There is no HAM. lol. People in China getting pissed at capital outflows that are hurting their country. How much did you smuggle out Space? Time to let Xi know that you are condoning treason against the mother country.

BPOE boyfriend
Member
BPOE boyfriend

@space = another bitter loser

space889
Member
space889

I made my position regarding corruption money very clear. It is your Cdn gov’t that consistently refuse to extradite the criminals and seize their assets on grounds such as, well, we can’t deport the guy if he’s facing death penalty in China, you have to give us all the proof that his house & money was illegality obtained, oh wait, he’s claiming refugee status cuz he has 2 kids now, please wait while we sort that out, etc, etc, etc….

Canadian gov’t is the biggest cooperate in this money outflow problem. and you people simply proof you are a moron everything you post claiming I support such activity.

paulb
Member

New
381
Sold
295
TI:8090

http://www.paulboenisch.com

space889
Member
space889

Also, did this little anecdote take place before or after all the oil field related carnage? Cuz, I don’t think you can really support a mortgage with no income and no savings.