Ten thousand empty homes

Bubble tea pointed out that back in March a study claimed that 10,800 homes were empty for more than a year in 2014.

They reached this conclusion by studying electricity usage, if it remained flat for 25 days the home was deemed to be vacant.

Of course many of these homes could have been occupied by paleo-humans who eschew electricity in favor of a simpler lifestyle.  How many condos in Kerrisdale are filled with families huddled under blanket, burning their own waste to keep warm?

The majority of the empty homes in 2014 were apartments — 9,747 — and vacancy rates were highest on the West Side of the city, with 9.4 per cent in the area that stretches from Kitsilano to Point Grey and 8.6 per cent in neighbourhoods that include Kerrisdale, Dunbar and Southlands.

Suggested reasons for the vacancies included a home was bought for investment, was under renovation, the owners were on vacation, the home was caught up in an estate sell-off, or it was being flipped. A home was deemed empty in a given month if the hydro data showed a flat consistent use of electricity for 25 or more days in that month for a year. The findings were not specific to neighbourhoods but separated into five large geographic areas. Basement suites were not included in the study.

Are 10,800 empty homes a negative thing for a city, and If you had unlimited power what would you do to change this situation?  Would you opt for incentives for owners to rent out empty homes or a some sort of system to try to prevent them from remaining empty?

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

Maybe there could be designated vacation areas, like around a lake somewhere way off away from densely populated areas. Anyone from anywhere could buy in such an area and leave their place empty. If they wanted services, like fire protection services, they would have to organize themselves to pay for them.

But people who are both nonresident and not citizens should not be allowed to leave places empty (except in certain extraordinary situations) in Vancouver or in any city or large town.

dritymoney
Guest
dritymoney

That’s what Singapore has done. It has an area designated for off shore crooks to buy homes so they do not compete with locals. The price of the land is several multiples of local areas and there is high local taxes.

meanwhile Crusty wants to seel everything to any crook that has money

patriotz
Member

That’s just the ones that Singapore hasn’t admitted as immigrants. The ones who immigrate can buy anywhere they want.

The accident, captured by the dashboard camera of another taxi, has uncorked long-stewing fury against the surge of new arrivals from China, part of a government-engineered immigration push that has almost doubled Singapore’s population to 5.2 million since 1990.

And you complain about Canada having a high immigration rate from China.

http://www.nytimes.com/2012/07/27/world/asia/in-singapore-vitriol-against-newcomers-from-mainland-china.html?_r=0

space889
Member
space889

So snow birding are not allow anymore then? I’m sure locals in a lot of retirement countries are cheering.

And these empty homes are paying for city services they aren’t using cuz they are still paying property taxes.

Best place on meth
Guest
Best place on meth

If these snowbirds are each laundering millions in the real estate of these locations then no, it should not be allowed.

Thank you once again for another completely irrelevant and incredibly stupid comparison.

Shut It Down Already
Guest
Shut It Down Already

And your evidence of money laundering is…..?

In a post-9/11 world money launderers are pretty high up the list of people to be tracked down and apprehended. If, as you claim, every Chinese buying property in Vancouver is laundering money then it should be pretty easy to do so, eh?

Feel free to respond with a news article which describes a single case, as if that somehow proves your point.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName
patriotz
Member

It is impossible in practical terms for the government to enforce a policy on “empty” dwellings, since owners can just recruit nominal “residents” to make them appear “occupied”.

What it can do is enact policies that impose an economic penalty for leaving dwellings unused. For example, higher property taxes, which might be credited against income tax paid.

But half-empty dwellings account for far more unused living space in total. Again change tax policies to discourage people from staying in properties too big from them, instead of encouraging them. The obvious first step is to get rid of the absurd property tax deferral program, which actually pays people to keep living space empty.

StupidityCheck
Guest
StupidityCheck

By that idiotic logic, we should get rid of most laws because people can always lie and cheat.

david
Guest
david

We should be celebrating this !

Vancouver has been astoundingly successful in attracting the 21st century’s most desirable target immigrant group:
The zero carbon footprint, waste non-producing, utility non-using, oxygen prrserving shell company.
…which makes Vancouver the most sustainable place on Earth !!

Huzzah!

xyz
Guest
xyz

…..but then how many other people who need to live AND WORK LOCALLY have been forced out further and do longer commutes because of this. Carbon footprint probably worse….

david
Guest
david

Do they not have sarcasm in the ‘burbs?

xyz
Guest
xyz

No

david
Guest
david

How ’bout rhetoric ?

HAMster
Guest
HAMster

Meanwhile, in Christy’s riding:
Affordable housing crisis forcing some Okanagan families onto the streets

http://www.cbc.ca/news/canada/british-columbia/affordable-housing-crisis-forcing-some-okanagan-families-onto-the-streets-1.3621221

What a disgrace BC has become.

space889
Member
space889

The epicenter of BC House Crash from 2008?? With prices much much lower than Vancouver? Yeah right.

If this is actually true then we would be seeing an avalanche of this problem in Metro Van now.

StupidityCheck
Guest
StupidityCheck

Shut up, you stupid fifty cent party idiot.

southseacompany
Member
southseacompany

“Code Red: Campaign highlights housing crunch on young people”, CTV news

https://www.youtube.com/watch?v=sq_BSA6fR-0&spfreload=10

“The money you’d spend on two houses in the 1970s could buy only two bedrooms now, according to research from a University of BC professor. “

bullwhip29
Guest
bullwhip29

Condo King pitches increased transit to help offset density concerns
http://www.vancourier.com/opinion/condo-king-pitches-increased-transit-to-help-offset-density-concerns-1.2272874

http://www.6717000.com/admin/uploads/article/moreimages/5985.jpg

>>>according to Christy Clark’s chief of staff, there is a simple solution to the housing crisis in Vancouver and that is to get those that can’t afford housing in the city to live somewhere else.

realist
Member
realist

Mr. Rennie’s advocacy of increased transit, or rather the reasons and economics underlying same, are one of the many reasons I voted against the transit referendum; it was a classic case of privatized profits and public costs. And yes, “everything is going to be alright” for Mr. Rennie, if he has his way…but that is no longer the given it once was.

ostritch
Member
ostritch

Why does the writer suggest that Fassbender and Ready solved the teachers strike when it was Beijing? They flew a guy in, he took a meeting with Chrusty, the next day she caved.

tokyorealestateman
Guest
tokyorealestateman

people without money cant live in shibuya–

bullwhip29
Guest
bullwhip29

Earl of Picasso loans one of the most expensive works of art ever shown in Vancouver to the Vancouver Art Gallery
http://www.theprovince.com/entertainment/local+arts/million+picasso+loaned+vancouver+gallery/11971025/story.html

http://www.theprovince.com/entertainment/local+arts/cms/binary/11971026.jpg
.
https://postmediavancouversun2.files.wordpress.com/2016/06/vancouver-b-c-june-6-2016-quingxiang-guo-is-the-curator.jpeg

“Qingxiang Guo oversees the Wanda Group art collection, which is owned by Chinese billionaire Wang Jianlin. He’s ranked as the richest person in China with a net worth of $31.5 billion US.“

“Guo said he agreed to loan the painting to the VAG in part because of his connections to Vancouver. He has a condominium in Coal Harbour, where he spends part of the year. Also, his son and granddaughter were born in this city.“

“I want to do this for Vancouver so people can enjoy the art and the best pieces by Picasso. Art is for the general public, not for personal use. It should be shared.”

bullwhip29
Guest
bullwhip29

Earl of Picasso loans one of the most expensive works of art ever shown in Vancouver to the Vancouver Art Gallery
http://www.theprovince.com/entertainment/local+arts/million+picasso+loaned+vancouver+gallery/11971025/story.html

http://www.theprovince.com/entertainment/local+arts/cms/binary/11971026.jpg

“Qingxiang Guo oversees the Wanda Group art collection, which is owned by Chinese billionaire Wang Jianlin. He’s ranked as the richest person in China with a net worth of $31.5 billion US.“

“Guo said he agreed to loan the painting to the VAG in part because of his connections to Vancouver. He has a condominium in Coal Harbour, where he spends part of the year. Also, his son and granddaughter were born in this city.“

“I want to do this for Vancouver so people can enjoy the art and the best pieces by Picasso. Art is for the general public, not for personal use. It should be shared.”

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29
jojoba
Guest
jojoba

When I hear the word culture, I reach for my gun…

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

and a QIIP satellite office based in Vanc surely in the works too

elvince
Guest
elvince

It’s great that we now have data, but how does it compares? Are those 9.4% and 8.6% normal if you compare to other cities (Montreal, Toronto, Calgary) and other periods of the same areas (I guess we’ll never get historic datas now)?

If there’s a comparable amount of empty homes in every cities, through most periods, then it’s no biggie. On the other hand, if we usually see comparable cities having less than half of that many empty homes, then it’s a talking point.

Btw I think the methodology probably underestimates the number of empty houses. For example, a house or condo being renovated will show electricity usage. Those 15 Amps power tool add up pretty quickly to a hydro bill.

space889
Member
space889

City wide is 4.9% and 4.8%. The 9.4% and 8.6% applies to just Vancouver West.

squeak
Member
squeak

“Are 10,800 empty homes a negative thing for a city”?

Just a couple of days ago there was blogging about how humans were living in vans/cars b/c of no rentals/housing that they would be able to afford.

It really is a fiasco when a country allows non questioned mega amounts of money into Canada, destroying its young citizens future, displacing and making decent Canadians homeless.
Excuse me you leaders (on all levels) : What the hell are you DOING??

This is totally unacceptable. Grade: F and barred.

If the present governments (on all levels) cannot figure out how to run at least a half assed decent society, then Canada needs to throw it all out and start clean on a clean slate. New system, new leaders.

Obviously the current system is not working (for the hardworking honest tax paying Canadians).

realist
Member
realist

Permit me to answer on the leaders’ behalf: “we are feathering our own nests by feathering the nests of those whose interests we promote, which is a small proportion of the electorate, & not you!” The solution is radical overhaul of representative government: modern technology allows Swiss-style governance of every country.

Madashell
Guest
Madashell

The number of 10.800 empty homes may be low based on no electricity consumption cause there are RE management companies that hires students to go into homes just to collect mails and turn on and off electricity at different times.

franko
Member
franko

I’m pretty sure the number is at least 3 times as high, and there’s no need for students as most of these foreign tax evaders have fixed the problem by installing timers at the grand sum of about 50 bucks.

Vigilante justice must look tempting to our homeless.

space889
Member
space889
southseacompany
Member
southseacompany

“Bill Morneau studying ‘real evidence’ on housing bubble” CBC News

http://www.cbc.ca/news/politics/economist-canada-summit-1.3621971

“The federal government is conducting an in-depth examination of the country’s real estate markets as it decides whether more changes are needed to rein in escalating prices or curb the impact of foreign investment on housing affordability, Finance Minister Bill Morneau said Wednesday.”

“Morneau did not specify Wednesday what sort of changes the government was considering or how soon it may implement any measures it may decide to undertake.”

southseacompany
Member
southseacompany

“Boxed-in Bank of Canada stymied by hot housing and sluggish economy”, Globe & Mail

http://www.24news.ca/the-news/economic-news/229069-boxed-in-bank-of-canada-stymied-by-hot-housing-and-sluggish-economy

“Now, with the runaway freight trains that are the Vancouver and Toronto housing markets gobbling up prime news space on a near-daily basis, we’ll hear if the Bank of Canada has changed its “worried but not that worried” message about the risks of rising prices, massive mortgages and bloated household debt”

“Despite years of expressing concern about the mortgage-fuelled excesses of household debt, the bank’s long-standing position is that its own policy tools – namely, higher interest rates – aren’t the best instruments for the problem. That message has only strengthened as the housing markets of Toronto and Vancouver have soared to unprecedented heights”

tedeastside
Member
tedeastside

the tidal wave of empty houses is great since they pay a (tiny) property tax, and dont use services.
i guess the most efficient city is one with no people.

Best place on meth
Guest
Best place on meth

There’s no city like a ghost city.

tokyorealestateman
Guest
tokyorealestateman

if you dont like the HAMs–you should be happy they arent around all the time…

Vanco
Guest
Vanco

and they don’t contribute to pollution and green house gas.

Best place on meth
Guest
Best place on meth

What about all the former locals they’ve displaced to far away suburbs, you know the ones who now make a long commute back to the city every day?

You didn’t think of that, did you?

Shut It Down Already
Guest
Shut It Down Already

An empty house still consumes some services. The road outside still gets repaired, has its lines painted, and gets lit. The fire department will attend if it burns, police will attend if there are crimes reported on the property. Etc.

paulb
Member

New
277
Sold
228
TI:8495

http://www.paulboenisch.com

ostritch
Member
ostritch

Hmmm. Almost 8500. So the market is slightly less blistering hot?

Oracle
Guest
Oracle

Where are all those idiots that were saying HAM is a myth.

Patriotz?? Others??

I feel sorry for the people who bought these guys BS over mine.

Like I said before, I sold my home in North Delta last summer and bought a lot late last year. The lot sits empty but I am getting offers $500,000 more than I paid for it.

I’m holding it. Until they stop handing out student visas and 10 year visitor visas. The floodgates of immigration and foreign money are wide open.

Or you can believe people like Patriotz. Where has that gotten you over the last 12 months ??? Think about it.

StupidityCheck
Guest
StupidityCheck

Don’t worry, there’s no chance of a sudden turn in the market that erases your gains. And then some! It will go up forever!!

ChinaOne
Guest
ChinaOne

I tell you also my cousin come and buy 2 more house. His other cousin come student visa and buy more house.

Why ban me. I tell truth.

Look you fool what happen to price. We make million more in 6 month.

patriotz
Member
Chinabuyeverything
Guest
Chinabuyeverything

Link ?

southseacompany
Member
southseacompany

“Toronto, Vancouver home price gains unsustainable, Poloz warns”, Globe & Mail

http://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-financial-system-review/article30363984/

“Bank of Canada Governor Stephen Poloz says recent home price gains in the red-hot Toronto and Vancouver markets are unsustainable, increasing the probability of an eventual correction.”

southseacompany
Member
southseacompany

“Trudeau: Hot housing sector ‘a real drag’ on Canada’s economy”, BNN video

http://www.bnn.ca/News/2016/6/9/Trudeau-Canadas-hot-housing-sector-a-real-drag-on-Canadas-economy.aspx

“Skyrocketing home prices in Toronto and Vancouver are creating headwinds for Canada’s economy, Prime Minister Justin Trudeau told BNN in an exclusive interview.”

southseacompany
Member
southseacompany

“A housing market that’s too hot to handle”, Maclean’s

http://www.macleans.ca/economy/a-housing-market-thats-too-hot-to-handle/

” After years of pumping money into the country’s frothiest housing markets, Canada’s big banks are suddenly—and alarmingly—nervous about the debt-fuelled monster they’ve helped to create.”

southseacompany
Member
southseacompany

“Bank of Canada says house price increases in Vancouver, Toronto likely unsustainable”, CBC video

http://www.cbc.ca/news/business/bank-canada-housing-financial-1.3624088

southseacompany
Member
southseacompany

Includes link to live video of Poloz conference at the moment.

Nom Nom Nom
Guest
Nom Nom Nom

Thanks for posting SSC… It is becoming a full time job keeping up with all the topical articles that are being churned off the presses these days!

Mandrake
Guest
Mandrake

Lol…

Toronto, Vancouver home price gains unsustainable, Poloz warns
The Globe and Mail (subscription) – 48m ago
Bank of Canada Governor Stephen Poloz says recent home price gains in the red-hot Toronto and Vancouver markets are unsustainable, increasing the probability of an eventual correction.

wpDiscuz