Friday Free-for-all! June 3rd 2016

Yep, it’s another one.

As we wind down the work week and head into another weekend it’s time for another Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread.

Here are a few recent links to kick off the chat:

Drastic measures to slow market?
Taxpayers send realtors on trip?
Dirt earns more than all workers
Houses hit all time high
Bubble Timeline
Replace income tax with property tax
Scotiabank concern over Vancouver & Toronto

So what are you seeing out there? Going to any open houses this weekend?  Post your news links, thoughts and anecdotes here and have an excellent weekend!

Sort by:   newest | oldest | most voted
tedeastside
Member
tedeastside

mountains, cold ocean, hockey and starbucks …….thats what rich people have to look forward to in vancouver …. u got a seawall, walking trails and bike paths and a very mediocre food scene, dismal sports scene……..vancouver= not worth the price

david
Guest
david

I don’t agree. If Vancouver is so awful, then I would like to hear your review of anywhere else in Canada.

No, I think that as lovely as Vancouver is — not perfect by any stretch, and lots of warts, but by far the best lowly Canada has — it’s simply not worth a fraction of the price property now costs.

And that is on the authorities at every level who have watched it happen. Vancouver was pimped and ruined on their watch.

Slava
Guest
Slava

Exactly. The mostly baby boomers in Gov’t and sellers have been prostituting themselves, first to Hong Kongers, and now to China Mainlanders, for the past 20 years.
…And now the chickens are coming home to roost…..

bullwhip29
Guest
bullwhip29

why do you think rennie has come out and said the vancouver train has left the station…forever? only plausible fix for this mess is to make regions outside of the lower mainland as accessible as possible, but that will be challenging. besides, the spill over effect appears to be far reaching making owning a decent detached house on a moderately sized lot ANYWHERE in BC a challenge for many as things stand right now.

Slava
Guest
Slava

I don’t think anything of Rennie…Nothing to do with my comment..Just a sleaze spinning for his own (financial) self-interest. End.

bullwhip29
Guest
bullwhip29

he is the one directing the traffic in victoria. in a roundabout way he’s suggesting it’s officially game on for regions outside of gr vanc. where prices are lower. this is the only card the clark govt has left to play and i’m expecting a number of announcements in the coming months to appease both residents of these areas and investors/buyers from the lower mainland who would have otherwise missed the boat on RE completely.

Slava
Guest
Slava

They can make all the announcements they like. When the flash-point is ignited by the desperate and pissed-off majority, no amount of announcements, putting your head in the sand, and or wishful thinking is going to help them…..Coming soon to a lower mainland theater near you…

bullwhip29
Guest
bullwhip29

the majority is long real estate. if there is anything they can do to give residents and first-time and/or recent buyers (who havent yet participated in the boom) of RE outside of the lower mainland a kick in the pants to get them on board, they’ll do it. judging by some of the craziness that suddenly ignited in markets that seemed long forgotten i’d say something is up.

ostritch
Member
ostritch

Minority. Look around you. You are in the minority. You were warned but all you did was cry racist. Now you’ll have to cry in your milk with the rest of the PC crowd.

And I don’t mean you personally, whoever you are, just everyone else on this blog who shut down all discussion on foreigners. It’s over. Maybe buy stock in A dairy company.

ostritch
Member
ostritch

Except the horribly upsetting prediction he makes end up coming true. I like to give credit where credit is due.

ostritch
Member
ostritch
Yes. That’s exactly what he’s saying. I think it’s a bitter pill that we are in the process of swallowing. To be truly realistic, many of the other areas of the LM are very beautiful but they are culturally underserved. As development there happens a lot of the things people like will be available there. But it will take a long time. And the municipalities will have to get on board. Brooklyn and Oakland are almost destinations in themselves. Either that or we follow the London model with interesting borroughs and high streets expanding ever outwards. I think fairly soon Richmond will be like that to Vanvouve except Richmond is still pretty dull. But then again Vancouver has always been a bit dull. But the development along Cambie/Granville/Oak will feel like Richmond and Vancouver are becoming one. That and the… Read more »
space889
Member
space889

But it’s all mainland Chinese people’s fault that they are pimping themselves out so badly right? If only there was no Chinese immigration, things would be so perfect and every bear on this blog could have bought that Van West SFH for 3x single earner income.

Best place on meth
Guest
Best place on meth

Correct on all counts.

You may be incredibly stupid but eventually you do catch on.

Slava
Guest
Slava

Vancouver Lower Mainland real estate is for people who live and work, and or pay their taxes here (in Canada). That is the whole of the “Free Market”.
That is why the CRA has to enforce their EXISTING Laws and audit tax returns that CLEARY show a lack of income relating to (real estate) assets and or that the owner does not live here.
These residential real estate owner tax returns will clearly show if this is the case.
PROBLEM SOLVED.

david
Guest
david

Hiding a half million loonies in an empty, 1000 ft2 vault that everyone here still naively calls a ‘condo’ is not “immigration”.

wizard sleeves
Guest
wizard sleeves

California: home of cheap Mexican labour, surfing, and condom-only porn.

space889
Member
space889

You know what a lot of overworked rich people from world class city wants when they stop working? Peace & quiet with nice clean fresh air, open spaces, and anonymity. How many people actually go to opera, art gallery, or Michelin restaurant on a regular basis? Not many. Sports? Well that’s what big screen TV is for, and you avoid all the crowds of average joes. Heck, if you are that loaded, you can always fly to watch a championship game as a mini-getaway. So Vancouver has most of what a lot of rich people are looking for in a nice relax leisure life, which matters way more day to day than the so called world class culture amenities.

Combat roach
Guest
Combat roach

Every fucking day you push the limit of stupidity. Keep going…

ostritch
Member
ostritch

You are correct.

Ulsterman
Member
I hate this market more than most, TedEastSide. Mountains, ocean etc are not what is drawing the wealthy here in terms of actually USING these things. The cold ocean and mountains make the city beautiful to look at even if you (like the vast majority of Lower Mainlanders) you never hike in a mountain or swim/kayak, sail on the ocean. The beaches, False Creek area, Stanley Park paths are extraordinarily beautiful when the sun shines. The air is clean, crime is relatively low, it’s a democracy, AND the biggest factor of all, a wealthy Chinese immigrant can conduct their entire lives in Mandarin or Cantonese. They ditch everything bad about China and continue to live like Chinese people. I can totally see why they come here. There are few other cities in the world with such a complete Chinese-friendly infrastructure… Read more »
tedeastside
Member
tedeastside

I know I was going by what Gregor said and what some local homeowners scream at me when asked about vancouver,….. mountains ocean, craft beer , seawall, parks yada yada yada

Combat roach
Guest
Combat roach

At some point somethings will start burning. Time will tell, the braking-point crisis will strike sooner or later. This “immigration/investment” orgy is not natural and it won’t sustain…

patriotz
Member

Vancouver condo marketer Bob Rennie doubts city’s affordability plan

Vancouver can’t force house prices down or make room for everyone without drastic changes – so people should adjust to the reality that the suburbs will be the only affordable choice, prominent condo marketer Bob Rennie says.

Well he’s right that the City does not have the power to bring prices down, but he doesn’t want to mention that the federal and provincial governments do have the power. But when you cannot accept that the solution to excessive prices is lower prices, this is the kind of evasion you get.

Rennie is spot on about one thing through – it’s boomer equity that’s the major factor in enabling buyers at today’s prices. But he doesn’t mention this will eventually run out.

ostritch
Member
ostritch

You spelled invasion wrong

david
Guest
david

“When people want want great beer, they head to Vancouver”.
—-Mayor Moonbeam.

So I guess having a home near these iconic small breweries is worth whatever it costs. Finally, an explanation that makes sense!

patriotz
Member

Look this is BS. Robertson did not claim that Vancouver’s cultural amenities justified current prices. Read the article, not just the headline:

https://thewalrus.ca/why-is-vancouver-so-expensive/

… while the city can control what gets built, we can’t control who buys. That rests with the provincial government. That’s why I’ve been outspoken in calling for new tools to help create a more level playing field when it comes to housing in Vancouver. A luxury sales tax and a speculation tax would go a long way to reducing the commodification of housing, and ensure that the wealthiest buyers who can afford the multi-million dollar mansions (and increasingly, multi-million dollar bungalows) can give back to those on more modest incomes who need housing security most.

Isn’t that what people on this forum have been asking for, again and again?

david
Guest
david

“BS” is really what messageboards are for, Einstein. This isn’t for university credit.

Shut It Down Already
Guest
Shut It Down Already

He’s right – this place has been BS for years now. Remember when the topic was real estate, not China?

Slava
Guest
Slava

You haven’t been paying attention, China and real estate is now a MSM News topic, as they are related.

ostritch
Member
ostritch

I know. Such a long journey for people in Belgium.

bullwhip29
Guest
bullwhip29

RE cartel’s hired bitch at it again this morning defending the sky high price of housing
http://www.news1130.com/audio/minute-with-bill-good/ (June 3 comment)

http://www.news1130.com/wp-content/blogs.dir/sites/9/2016/01/28/en_1920x1080_billgood-1024×576.png

>>>I wonder how long it will be before he’s pounding the table on a fixed link to the sunshine coast (where he lives)

bullwhip29
Guest
bullwhip29

https://pbs.twimg.com/profile_images/610865427774898176/MxhdBYfk_400x400.jpg

>>>surely straining his brain trying to figure out how to spend the fat paycheque from capital direct and patiently awaiting a draft copy of the RF Binnie seal of approval

Slava
Guest
Slava

Might just be your typical boomer trash, all smug on how the home he purchased to live in for $60 K became a commodity which he sold for $1.2 mil.
The definition of success by ingenuity, in BC Lower Mainland!

Slava
Guest
Slava

oops, almost forgot… not to mention entitled, the boomer establishment favoured word….

ostritch
Member
ostritch

Lol

tedeastside
Member
tedeastside

well he inherited a West Vancouver house, so his views on housing matters are going to be a bit different than somebody who doesnt inherit shit and has to earn things

thought he retired from CKNW

Slava
Guest
Slava

Views are one thing. Facts are another.
Facts trump somebody’s views…

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

Bob Rennie says Metro Vancouver baby boomers have clear title to $197 billion worth of residential real estate
http://www.straight.com/news/710911/bob-rennie-says-metro-vancouver-baby-boomers-have-clear-title-197-billion-worth

http://d2ciprw05cjhos.cloudfront.net/files/v3/styles/gs_large/public/images/16/06/bob_rennie_credit_vincent_lee.jpg

“…equity-rich boomers are trading down and buying second homes or recreational properties. In addition, he said that they’re helping their children and grandchildren enter the market.”

“Eighty percent-plus of their Vancouver first-time buyers are receiving family funds, 70 percent-plus in Burnaby, and 60 percent-plus in Surrey.”

>>>ok, so for many this is effectively a wealth “transfer”, not a source of new money.

would-be buyer
Guest
would-be buyer

Who is going to buy these houses off the baby boomers so they can transfer the “wealth” to their kids? Baby boomers are the largest population cohort in Canada. Are there enough rich buyers out there (excluding foreign capital) to soak up the supply? The contrary opinion says that baby boomers will flood the market with homes in the next 20 or so years causing deflation in housing prices.

space889
Member
space889
Ever heard of 1 – move up buyers, and 2 – Home Equity Line of Credit? Many boomers are living longer & healthier and staying put in their homes. But recent survey show that as much as 25% will retire with a mortgage. So I’m guessing a good chunk of that $197B of equity will flood into local RE market via HELOC. People on here bitch about Chinese $$$ inflow. How much is that annually? I doubt that’s more than $10B to $20B a year. That pales in comparison to the boomer equity that’s now starting to leaking into the local RE market chasing more safe, go up for sure, gains. That would ruin more lives than Chinese $$ would given a lot of it will go to the under $1M RE which is what most local buys. Is it… Read more »
Best place on meth
Guest
Best place on meth

If it wasn’t for the 10-20 billion a year from china being laundered here, the boomers wouldn’t have all that equity.

So incredibly stupid.

Shut It Down Already
Guest
Shut It Down Already

10-20 billion a year is 10-20,000 SFH nationwide, give or take an order of magnitude. Not enough to enrich every boomer, but nice try.

So incredibly stupid.

Best place on meth
Guest
Best place on meth

Oh my god, are you really that retarded?

Rising prices raise equity for all homeowner, not just the ones that sell.

Jerus fucking Christ, what’s wrong with you?

ostritch
Member
ostritch

Exactly. Like every penny is going to be spent on housing. No one’s gonna go on holiday, buy a piece of fried chicken, or pay $10,000/month on private nursing or a nursing home when they become infirm.

ostritch
Member
ostritch

The answer is in your meandering bozo. There’s a mass migration from the third to first world underway. Read a paper. They’ve ALREADY SOLD to foreign capital on which there is no limitation (see your premier and prime minister for more information). Take a WALK. through Point Grey, KNOCK on some doors, the people who answer will tell you, the people who aren’t home are the ones the other for are telling you about.

bullwhip29
Guest
bullwhip29

Feds considering luxury tax to cool housing market
http://globalnews.ca/news/2738797/feds-considering-luxury-tax-on-foreign-buyers-of-multi-million-dollar-homes/

http://i2.wp.com/media.globalnews.ca/videostatic/23/139/GN160602JACQUES_848x480_697960003560.jpg

.

>>>so the $50M questions are…

how will this be implemented?

who will have to pay it?

will it apply to all buyers or just foreigners? (very interesting that they seemed to dodge this)

which benchmark price will be used? who will decide what is considered a “luxury” home in the various cities across the country?

what will be done with the proceeds of a proposed luxury tax?

most importantly, when will it happen? (so that current prospective buyers can fill their wheel barrows before the deadline)

Zero Down Forty
Guest
Zero Down Forty

Considering that sales of homes worth over $3 mil have amounted to 5-7% of Metro sales in the last few years, a ‘luxury tax’ wouldn’t have much effect. Last year 70% of home sales were for units below $ 1 mil. Targeting the high end will do little, as recent CHMC moves have shown. The marginal buyer drives the market, and the local powers that be know this. Rennie knows this. Christy knows this. That’s why they talk of targeting the high end and subsidizing the low/mid market buyer.

Best place on meth
Guest
Best place on meth

5-7% of unit sales equates to 20-30% of total dollar volume. That’s a big chunk.

A 10% luxury tax on those high end sales will quickly add up to hundreds of millions of dollars that can be put toward building co-op housing, something that hasn’t been funded since the 1980’s.

space889
Member
space889

Hahahaha….you make me laugh with your stupidity and naivety….you actually think the gov’t will take those tax $$ and put it into co-op housing?? OMG…..you are ever dumber that I give you credit for.

bullwhip29
Guest
bullwhip29

seriously man, give it a rest…

why not take a break and try this out for a few days…you never know what will happen.
https://www.livingsocial.com/deals/1601492-1-or-3-month-match-membership
.
http://blackchampagne.com/wordpress/wp-content/uploads/2015/03/asian-women-ad.jpg

Shut It Down Already
Guest
Shut It Down Already

Bullwhip, the ads you see are generally related to the google searches you perform…

Ew.

Shut It Down Already
Guest
Shut It Down Already

Such a punitive tax on high end sales would not impact the prices of “average” properties being purchased by greedy financially illiterate locals. They think a townhouse is a retirement savings vehicle, after all.

It’s all about sour grapes for some of you 99%ers.

Best place on meth
Guest
Best place on meth

You compelety missed the point, as usual.

I did not say anything about using the tax ito impact prices, the point was to use the revenue to build housing.

ostritch
Member
ostritch

How about the 3-11 condos people buy at once. Does that count? Doh! Anecdotal. You want me to go to Bosa or Pinnacle and demand to see their books. Remember when every observation was considered anecdotal by you dolts?

space889
Member
space889
A luxury tax would simply make people dodge the tax via corps & trusts like what they do now to dodge PPT with commercial properties & expensive RE. If we assume most of the buyers of luxury (let’s just say > $3M) are foreigners residing in China and dodging their income taxes. What make you think these people will sudden all be law abiding and paying this luxury tax like good citizens? More likely, all the official sale prices will be pretty much close to purchase prices while other considerations or cash will change hands in China. Also, what about that primary residence exemption? Would that be eliminated for luxury properties? I say the best way is still a simple property tax rule offset with personal income tax reduction starting from the lowest brackets. Benefits most working people and making… Read more »
patriotz
Member

“A luxury tax would simply make people dodge the tax via corps & trusts”

Wrong, because it would be added directly to the property tax bill. That’s the beauty of it – there is no way it can be avoided through ownership structures. Pay up or forfeit property.

ostritch
Member
ostritch

I can’t wait to see the Chinese figure a way around this one.

southseacompany
Member
southseacompany
ostritch
Member
ostritch

Bisexual? I’m too lazy to click.

southseacompany
Member
southseacompany

“Odds for interest rate hikes plunge after major jobs report miss”, CNBC

http://www.cnbc.com/2016/06/03/odds-for-interest-rate-hikes-plunge-after-major-jobs-report-miss.html

“The probability for a June rate hike plummeted Friday after a major miss in the May jobs report. The Labor Department report said U.S. economy added just 38,000 jobs, far below economist estimates of 162,000.”

Combat roach
Guest
Combat roach

What fucking suckers are we…

Stephane Dion Chastised For Staying Silent As Chinese Minister ‘Berated’ Canadian Journalist

http://www.huffingtonpost.ca/2016/06/02/stephane-dion-wang-yi-reporter-canada-trudeau_n_10265744.html

Best place on meth
Guest
Best place on meth

It’s embarrassing enough that Canada’s foreign minister is even standing next to this piece of shit from china, and then he just stands there like an idiot.

Wang should have been grabbed by the scruff of the neck, shoved into a waiting car, driven to the airport and told never to come back.

ostritch
Member
ostritch

Haha. I thought you were going to say by the balls. You’re going pretty easy on this guy.

Best place on meth
Guest
Best place on meth

You can’t grab what ain’t there.

space889
Member
space889

Still handle it with way more class than you two piece of turds would ever have.

bullwhip29
Guest
bullwhip29
Best place on meth
Guest
Best place on meth

Yes, he handled his hatred of free speech with incredible class.

Usually when a chinaman gets mad he hops up and down, but not the Wangster.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Honestly, Space. You need to try to integrate into Canadian political life a bit better ( if not Canadian culture). I think your paradigm for how journalists fit into the big picture and what is the appropriate way to respond to them is just way off. It’s as if you’re wearing spectacles that keep you from seeing certain colors.

If you think he handled that with class you clearly don’t have the concepts you need to have in order to be able to sway opinion here.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

My reference is to the minister from China.

Best place on meth
Guest
Best place on meth

You mean gangster from china.

StupidityCheck
Guest
StupidityCheck

If your definition of class is “aggressive arrogance”, then I agree. It’s obvious he isn’t used to answering off-script questions.

P.S. Shut up, you idiot.

space889
Member
space889

Reporter has a right to ask whatever they want here in Canada so does the person answering the question has the right to respond how they see fit. Unless you believe freedom of expression & speech only goes one way?

And yes, relative to most of the bears on this blog, he answered the question with way more class than you people, who can’t even bother to pull your heads out of your stinking asses to actually look around and see what’s really going on in the world.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName
Nope, Space. You’re still not getting it. A government official does not have the right to say anything at all. A government official in a democracy is accountable to the people, and so when the journalist asks him questions he owes her an answer to her question, not a dressing down. But you know what else you’re not getting, Space? That minister from China (whoops sorry Bestplaceonmeth, I mean that gangster) is misogynist as all get-out. And that’s another way he showed his ignorance of Canadian culture. He gave her a “talking to” because she, a woman, in speaking up to ask a question, was speaking out of turn in his view. And you know what else Space, many women in Canada saw this for what it was, and your minister lost all kinds of sympathy people might otherwise have… Read more »
southseacompany
Member
southseacompany

“Bank of Canada concerned home buyer expectations may be driving up prices”, Globe & Mail

http://www.theglobeandmail.com/report-on-business/bank-of-canada-concerned-home-buyer-expectations-may-be-driving-up-prices/article30247707/

“The Bank of Canada is concerned that the acceleration in housing prices in Toronto and Vancouver may be partly due to purchases based solely on the expectation that prices will keep going up, Deputy Governor Lawrence Schembri said on Thursday.”

Chibabuyeverything
Guest
Chibabuyeverything

Lol!

Ya think ?

hhh
Guest
hhh

…..and, of course the BoC has absolutely nothing to do with the current buyer sentiment……

bullwhip29
Guest
bullwhip29

I wonder what would happen if HBC were sold to asian investors and renamed the Hangzhou Bay Co.?
http://www.ft.com/cms/s/0/b7c038c8-2727-11e6-8b18-91555f2f4fde.html#axzz4AWs2Hwzv

bullwhip29
Guest
bullwhip29
Chibabuyeverything
Guest
Chibabuyeverything

Already American owned for years

bullwhip29
Guest
bullwhip29

i know that. point was that house of fraser has been around for many generations. doesnt sit well with me that new owners would want to change the name to suit their own kind.

Best place on meth
Guest
Best place on meth

If they change the name to “House of Locusts” I’d be fine with that.

It would be the first honest thing that country has done in decades.

MarKoz
Member

The impact of the changes Bill Morneau made to the minimum down payments for homes costing over $500K were substantially reduced when Christy Clark implemented changes to the property transfer tax. On a home costing $750K you now need an additional $12,500 down payment, but the changes to the property transfer tax save you $13,000. The PTT savings are only on new builds though. And new builds under $750K would all be condos. And Bob Rennie is Christy’s chief fund raiser. I’m not sure why no media have picked this up

bullwhip29
Guest
bullwhip29

this isnt news. in fact, according to many, rennie is alot more than christy’s fund raiser

Chinabuyeverything
Guest
Chinabuyeverything

Rennie is not straight. FYI.

bullwhip29
Guest
bullwhip29

obviously you have your mind elsewhere. i was alluding to the fact that he was pretty much running every aspect of her entire election campaign including dotting all the I’s and crossing the T’s of each speech that was delivered. to this day, he’s got his hands into everything moving and shaking behind the scenes in victoria (well, that is everything related to RE)

ostritch
Member
ostritch

I think he’s pretty busy running his company and art collection. The truth is selling real estate and resources is all Canada and Canadians can think of.

Chinabuyeverything
Guest
Chinabuyeverything

That’s true. I cannot get through a day without real estate coming up in a convo. I miss the old Vancouver.

Slava
Guest
Slava

It is a free market to compete with locals, Canadian Citizens and Landed Immigrants who live and work here.
It is not a free market competing with foreign millionaires who happen to be from China.
SOLUTION: Any person who makes offer on residential real estate has to submit tax return. The income declared on tax return has to be enough to be able to purchase. If not, return to be auto sent to CRA for potential audit. PROBLEM SOLVED.
END.

space889
Member
space889

so, you basically barred anyone borrowing from bank of Mom of buy RE here. And you think the house sellers are going to like that rule? 70% of locals households are homeowners, would they support a rule that limit who can buy?
And it is a free market for RE against locals or foreigners. The person with the highest bid wins. No one is forbidden from buying. How is the RE market not a free market?

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

It doesn’t bar anyone from borrowing from the bank of mom. It just mean mom has to show her income tax return, or a receipt or something.

Slava
Guest
Slava

Actually the CRA has existing law that states that assets have to match income declared on tax return. If it foes not, this itself is a cause for an audit.
All the CRA has to do is enforce their existing law, as I have described…
It is troubling that they have stopped doing so since the 90’s
This could be considered treason, committed by the CRA….

Slava
Guest
Slava

CRA should be begin by knocking door to door on residential homes in West Richmond and Vancouver Westside asking to see the income tax returns of owners.
……The CRA audits can then begin……

888888
Guest
888888
space889
Member
space889

Why? They can access property titles. Just send the owner a letter demanding support that they can actually you know pay the property tax, etc. It’s not rocket science here. But it’s not done, not even as training courses for junior auditors. That means either CRA have way too many lucrative cases they are too burdened with to bother, or someone is not letting them.

This type of audits is about as easy as it will get. So the reason they aren’t doing their job speaks volumes.

elvince
Guest
elvince

Since this is random friday stuff, anyone cares to make predictions on the price increases for the next 12 months? I’ll start:
For CoV:
Detached: +3.5%
Townhouse: +1%
Condos: +5%
For GVRD:
All kinds: flat

Feel free to separate areas or inventory how you like, this is just for fun/bragging rights.

Newcomer
Member
Newcomer

I’ll go out on a limb and say, either up (slightly or significantly) or down (massively or moderately), or barring those two eventualities, flat. We’d have better luck predicting the score of the Superbowl, as the probable range is narrower.

888888
Guest
888888

I wonder if the Aussies will go begging the Chinese to buy their country like our politician’s . I doubt it . http://www.9news.com.au/national/2016/06/03/14/49/australias-property-boom-headed-for-dramatic-and-destablising-end-reports-oecd

space889
Member
space889

When Aussie mining industry crashes and all they got left are tourism, foreign students, and RE then yes, they will beg, maybe even more than Cyprus and Spain who are giving PR status for just buying 500K Euro house in the countries.

patriotz
Member

“I wonder if the Aussies will go begging the Chinese to buy their country”

“If”? They’re doing it right now:

Chinese Investment in Australian Real Estate Doubles

Chinabuyeverything
Guest
Chinabuyeverything

http://www.zerohedge.com/news/2016-06-03/vancouver-real-estate-mania

Read through the comments. I believe this ‘Pitz’ person is correct.

888888
Guest
888888

Why doesn’t the government just show the number’s .

Chinabuyeverything
Guest
Chinabuyeverything

Canadians need to fight for transparency. We need Zillow or the like.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

The resistance to transparency — and to making housing-related laws suitable to the population who lives here rather than suitable for various global gadabouts — is getting scary, as if we are dealing with major corruption.

bullwhip29
Guest
bullwhip29

was no different during US subprime debacle. rampant fraud until it all ended then broomsticks and dust pans brought out. no one held accountable. taxpayers foot the bill and we do it all over again. heads i win, tails you lose…

Chinabuyeverything
Guest
Chinabuyeverything

So the Canadian real estate board has soooooooo much money lobbying Ottawa. Will take some time for transparency to occur. Canada. As dirty as it comes. Ditto the insurance industry

Brian Ripley
Guest

I’m working on updating my charts.

The Compare Vancouver with Toronto Housing Chart is showing another hat trick again for both cities:

http://www.chpc.biz/compare-toronto–vancouver.html

Toronto may be even more manic… their absorption rate is up around 100% !

Pricing has become irrelevant.

888888
Guest
888888
bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29
CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

By the way, there was a demonstration in front of City Hall today. A banner, nice music, a table with a petition or flyers or something, someone being interviewed. There were several people with cameras or other such equipment, and more police and security people than there were demonstrators. A couple people honked driving by.

Apparently this started as a joke on Facebook, and then someone decided to follow through and make it real. Someone posted about it here, yesterday.

xyz
Guest
xyz
888888
Guest
888888

Well it looks like you can pretty much do whatever you want in regards to real estate .There are no rules anything goes. Make sure you file you T4 on time or watch out CRA will be right up your ass.

paulb
Member

New
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TI:8295

http://www.paulboenisch.com

Shut It Down Already
Guest
Shut It Down Already

8400 par…..

Oh wait.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName
“… He adds that China buys $6-billion a year of B.C. exports and Chinese students pay exorbitant tuition rates to attend schools here, rates that play an outsized role in helping many of these institutions to keep costs down….” reporting on Rennie in Globe and Mail article by Mason. Man o man, Rennie. Get your facts right. The school I know about does NOT charge exorbitant tuition rates to students from China or any other foreign countries. Barely a little above (by a little, I mean around $100 per term) what domestic students pay. Surprisingly, the rates are almost the same. Now it has been the case in OTHER jurisdictions in North America in the past that foreign students pay more but if you are going to claim it is true here in Vancouver or BC, VERIFY YOUR FACTS AND… Read more »
Combat roach
Guest
Combat roach

“Otherwise you are lying.”

It is his job ang the main skill. Selling illusions

888888
Guest
888888

He’s a banana ,what do you expect .Read his speech .

MLS watch
Guest
MLS watch

Tuitions for foreign students are 2 to 3 times higher. https://vantagecollege.ubc.ca

888888
Guest
888888

I’m sure they have a way around that, these guy’s know how to beat every rule in Canada.They’re just laughing at the rule’s . http://vancouversun.com/news/local-news/chinese-k-12-students-a-booming-demographic-for-b-c-schools

888888
Guest
888888

How about the guardian scam . I’ve got to give you guy’s credit ,you’re like the guy pissing on somebodys leg and telling him it’s raining.http://www2.gov.bc.ca/gov/content/education-training/administration/legislation-policy/public-schools/eligibility-of-students-for-operating-grant-funding

wpDiscuz