No more self-regulation for BC real estate

June 30, 2016 VCI Admin

The premiere is talking tough about self-regulation in BC real estate:

“The real estate sector has had 10 years to get it right on self regulation and they haven’t,” said Clark at a Vancouver new conference.
Clark said the right to regulate the industry will be taken away from the Real Estate Council of B.C.and put into the hands of a newly established and dedicated superintendent of real estate.
“The point of regulation is to protect people, to protect consumers,” she said. “Self regulation is a privilege.”

Too little too late or just in time? Read the full article over at the CBC.

43 Comments

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4 years ago

[…] bubble” –It’s made of debt! –“No housing bubble” –Losses down under –Auction fail –Getting […]

888888

4 years ago

Realturd’s have a distorted view of themselves’.

888888

4 years ago

Reply to 888888

This site is run and censored by realturd’s .Bye.

patriotz

4 years ago

The Australian Labor Party is proposing to disallow deducting operating losses from rental properties from other income (which is called “negative gearing” in Oz) except for new properties. It is also proposing to increase the inclusion rate for capital gains from 50% to 75%,

Australia has more than 2 million landlords, and more than 60 per cent made a loss in the 2013-14 financial year. The average loss is about $10,000.

OPENHOUSEMASSACRE

4 years ago

http://blog.shantelcampbellrealestate.com/files/2015/06/Photo-wildgooseperformance.com_.jpg

888888

4 years ago

Reply to OPENHOUSEMASSACRE

http://www.nationalpost.com/m/wp/blog.html?b=news.nationalpost.com/news/canada/bc-campers-face-a-sold-out-summer-as-private-companies-block-them-out-of-provincial-campsites

would-be buyerl

4 years ago

Interesting that all this economic “growth” is predicated on “debt”:

http://www.bnn.ca/News/2016/6/30/How-Canadas-hot-housing-market-is-propping-up-GDP-growth.aspx

Best place on meth

4 years ago

Reply to would-be buyerl

When the bubble pops we go into a depression – that’s why all levels of goverment don’t want to touch this time bomb.

Combat roach

4 years ago

Reply to would-be buyerl

Are there so many sick people around? Would be good to know what kind of mental diagnosis this individual has to say the this?

that the energy sector is no longer a major economic driver, a healthy housing sector is even more essential,” Will Dunning, chief economist with Mortgage Professionals Canada, said in a statement earlier this week. “It would be tragic to unnecessarily impair this key economic force.”

CanNeverThinkOfAGoodName

4 years ago

Reply to Combat roach

He’s lost track of what makes the economy of any interest at all. If there could be an economy without any human beings in it, apparently he would be happy as long as it was ‘growing’.

paulb

4 years ago

New
196
Sold
213
TI:8536

http://www.paulboenisch.com

Woopty

4 years ago

Chinese man eats live frog in supermarket

https://m.youtube.com/watch?v=NAs4z_–9U0

Combat roach

4 years ago

Reply to Woopty

He made a generational progress, his father used to eat people for fun.

Its_the_ALR_stupid

4 years ago

Like the proposed tax on empty homes, this initiative is a distraction – a convenient way for the government to appear to be doing something substantive when in fact attacking a relatively minor factor contributing to our real estate problems. Yes, reducing the corruption in the real estate industry is a good move, but it will not do much to lower prices. This proposal does nearly nothing to resolve major contributions to the problem: foreign money, low interest rates, CMHC, speculators, and of course the massive supply constraints imposed by the ALR. I think that Oracle guy, sadly, is right. The government wants prices to stay high and they will do nothing substantive to lower them. There may be a temporary correction in the short term, but prices will never be ‘affordable’ again, and in the long term they will… Read more »

CanNeverThinkOfAGoodName

4 years ago

Reply to Its_the_ALR_stupid

You can go a few km and across the border and pay 1/8 of what you would pay here for the same house. How can that be?

I used to think that it was because too small a percentage of the Vancouver area population would have access to that market. I now no longer believe that. I think there’s a different explanation but I don’t know what it is or what it could be.

Raincity

4 years ago

Reply to CanNeverThinkOfAGoodName

http://omnyapp.com/shows/lynda-steele-show/how-big-of-an-issue-is-money-laundering-in-vancouv

888888

4 years ago

Reply to Raincity

Hey Chrusty look at what your master’s are up to. http://www.independent.co.uk/news/world/asia/china-kills-millions-of-innocent-meditators-for-their-organs-report-finds-a7107091.html

Best place on meth

4 years ago

Reply to 888888

It’s not too late to nuke China.

Fucking shithole of all shitholes of all time.

CanNeverThinkOfAGoodName

4 years ago

Reply to Raincity

Hard to believe without putting oneself into a really jaded frame of mind and then you can be honest you and say to yourself, “yeah… that’s where the evidence points.” Otherwise, saying it out loud just seems like one is saying something to get attention or something — it seems so extreme, not like part of ordinary life. Like out of a movie about Chicago in the 30s or something, idk.

CanNeverThinkOfAGoodName

4 years ago

Reply to CanNeverThinkOfAGoodName

My comment above about evidence to do with money laundering, not organs from prisoners of conscience — though it might be taken to be about the latter.

888888

4 years ago

Reply to CanNeverThinkOfAGoodName

China is a fascist state ,anything is possible.Poor Chrusty .

Combat roach

4 years ago

No surprize why locusts are behaving as they do when the shithole motherland set example for them to don’t give a shit to any rules and legislation.

China spokesman says they will ‘not accept any dispute resolution’ on Phiilippines-initiated case.

http://www.cbc.ca/news/world/south-china-sea-court-ruling-1.3659328

Best place on meth

4 years ago

Reply to Combat roach

Why should the barbaric chinamen listen to international law?

They’ve owned the entire south china sea since ancient times – that 9-dash line map from 1948 says so.

nope

4 years ago

As if they are going to choose an oversight group that is willing to hold them accountable…

CanNeverThinkOfAGoodName

4 years ago

Reply to nope

Do they even know how to do that?

history

4 years ago

Vancouver is three years away from having its Lin Biao moment.

Students of history and astrology, algorithms and cycles, may wish to note the parallels between Biao during the Cultural Revolution, and Vancouver HAM in this cycle, to anticipate when RE plane crashes…. make particular note When Biao masses his family at the HK border, only to be turned away… and martial arts experts, please study the phenomena of Bruce Lee, and how that weirdly manifests itself in Vancouver during the next 3 or 4 years…

CanNeverThinkOfAGoodName

4 years ago

Reply to history

Or I could examine my tarot cards maybe, to note the parallels between Rembrandt during the early modern period, and Vancouver HAM this cycle, to anticipate when RE plane crashes… and study the phenomena of hot rod street racing, and how that weirdly manifested itself in Vancouver during the past 3 or 4 years…

history

4 years ago

Reply to CanNeverThinkOfAGoodName

Once the first rumblings that the Beattles would break up in 1968, came their most creative, revoutionary florish. John Lennon went on to create 4 individual albums in 1969, before exhausting Paul in the spring of 1970… we have a long way to go, comrades… a trip to a Kubrick’s Moon is also on the Agenda…

adios, 21 members of VCI

CanNeverThinkOfAGoodName

4 years ago

Reply to history

Does that mean you’re going to buy something?

history

4 years ago

Reply to CanNeverThinkOfAGoodName

my parents bought a Victorian home in Galt, Ontario in 1971. The price? $51,000. We moved from Bordon Street to Aberdeen avenue. Do you know the neighbourhood? It was pure genious, but in retrospect, a necessity, since my parents added two children, one in 1968, and another in 1969, to make 4 boys.

Demographics move the opposite dirrection today. Consult your tarot, and let us know what it portends for you.

Best place on meth

4 years ago

Reply to history

The Beatles discovered drugs in 1968, hence the “enhanced” creativity.

Ironically, Vancouver homebuyers discovered drugs last year and started paying 1.6 million for teardowns in Killarney.

history

4 years ago

Reply to Best place on meth

the Beattles discovered illusionary drugs much sooner than 1968.

We are trying to correlate admirably, the Pluto/Uranus conjunction in 1966, with the Pluto/Uranus Square in 2013.

Real Estate in the late 1960’s was very cheap…. housing wasnt the issue folks… it was clothing and feeding your children.

space889

4 years ago

@bear vancouverite – I think it would be more productive if the city focus on measures that is more enforceable and actually do some good. The empty homes are an issue but in the grand scheme of things, especially if we buy the Bears argument that it is all foreign money, wouldn’t really do much. And it is so easy to get around it unless CoV can take away people ability to appeal the judgement via the courts. I think a more general property surcharge aimed at residential homes that are not lived in, or rented to tax filing locals, or not owned by a physical actual human beings that are filing tax return is a much easier to administer and much harder to dodge than an empty home tax, and likely to be more effective. Granted it will cause… Read more »

BubbleTea

4 years ago

“How Big of an Issue is Money Laundering in Vancouver’s Real Estate Market” – The Lynda Steele Show
http://omnyapp.com/shows/lynda-steele-show/how-big-of-an-issue-is-money-laundering-in-vancouv

Madashell

4 years ago

Reply to BubbleTea

Answer: “Its super huge” Christine Duhaime

Raincity

4 years ago

Reply to BubbleTea

Is anyone shocked by this??!!

Madashell

4 years ago

Reply to Raincity

I will be shock if its not.

CanNeverThinkOfAGoodName

4 years ago

Reply to Raincity

I’m not exactly shocked but I find it hard to get my mind around it somehow. That there is extensive money laundering certainly explains what we are witnessing in the housing market, but it means that there are a substantial number of duplicitous people around and that disturbs me.

space889

4 years ago

Regulators are always the first ones to be bought. Without direct public oversight and accountability I see don’t see much change in regulation of RE industry.

BubbleTea

4 years ago

Just window dressing. Krusty is under the control of the RE industry. She’s got to go.

CanNeverThinkOfAGoodName

4 years ago

Reply to BubbleTea

So many people are watching now, though. Maybe it will be better than window dressing.

patriotz

4 years ago

Reply to BubbleTea

““The point of regulation is to protect people, to protect consumers”

She means homeowners. And Christy isn’t under anyone’s control, she just finds the RE industry to be a convenient partner. And she has no hesitation to throw a few of its sleazier members under the bus to show she’s on the homeowners’ side.

CanNeverThinkOfAGoodName

4 years ago

Reply to patriotz

Did Christy grow up in the suburbs, by the way? Why does she have such a constricted view of the make-up and values of the population of a city, or the source of its creativity?

Bubble? What Bubble?