Rise of the amateur landlords

The Globe and Mail has an article on the rise of ‘mom and pop’ landlords – people that rent out portions of their homes to be able to afford their mortgage.

Online classified sites are filling with posts from pilots, lawyers, construction workers and people doing all kinds of other jobs who have tacked on being a landlord as an extra way to help cover their mortgage costs.

With cities such as Vancouver and Toronto struggling to cope with a housing-affordability crisis, many people are choosing to rent out secondary suites in, or attached to, their homes as they try to keep a handle on outrageous property prices.

The rapidly increasing cost of real estate, particularly in the Vancouver region, has rippled into the rental market, pushing vacancies near zero while causing rates to increase. At the same time, the number of units outside of purpose-built rental buildings has been steadily escalating.

The article goes on the examine some of the issues with bad tenants, bad landlords and the perceived lack of rights for both groups. Read the full article here.

 

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

“Petition fights millennials being priced out of Canada’s cities”, Metro News

http://www.metronews.ca/news/vancouver/2016/08/25/petition-fights-millennials-priced-out-of-canadian-cities.html

“Nearly a thousand Canadians have signed an online petition against skyrocketing housing prices across the country, particularly for young adults scrambling to stay afloat.”

“The Homes First petition, spearheaded by the millennial advocacy group Generation Squeeze, is calling for political leaders at every level across the country to defend young adults from being priced out of their own cities.”

southseacompany
Member
southseacompany

“Fed officials argue for interest-rate increase on eve of Yellen speech”, Globe & Mail

http://www.theglobeandmail.com/report-on-business/international-business/us-business/fed-officials-argue-for-interest-rate-increase-on-eve-of-yellen-speech/article31563787/

“Two Federal Reserve officials argued the case for another interest-rate increase in interviews on the eve of an eagerly awaited speech by chair Janet Yellen in Jackson Hole, Wyo., that will be scoured for hints of a move that could come as soon as September.”

southseacompany
Member
southseacompany

“Mix of media sensationalism and psychology to blame for Vancouver real-estate hysteria, economist suggests”, Georgia Straight

http://www.straight.com/news/765526/mix-media-sensationalism-and-psychology-blame-vancouver-real-estate-hysteria-economist

“Brendon Brown argues that while foreign money is present and plays a role in real-estate markets such as Vancouver, that role measured directly is not large enough to account for the sharp price gains observed in recent years. Instead, Brown suggests, it is mostly Vancouver locals’ exaggerated perceptions of the role of foreign buyers that explains much of what has happened to the market.”

Kim
Guest
Kim

Real estate never goes down! Buy now or be priced out forever!

Kim
Guest
Kim

http://www.cbc.ca/news/canada/british-columbia/racist-assault-skytrain-1.3736232

White man yells at Asian woman to go back to where she came from.

Combat roach
Guest
Combat roach

Police should maximally focus on this tramp and not on those trivial money launderers, smugglers, fraudsters, car trunk corpses, killers and the rest of important affluent business people.

Bob
Guest
Bob

Just another mentally ill person with no support from the state.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Or, an actor… with support from (some) state.

Oracle
Guest
Oracle

Well all your bitching and whining isnt helping anyone. My bank has decided to pull back my construction mortgage due to “tightened lending restructuring”. I will finish it one way or another. Maybe I can take advanced bidding deposits for rentals from you bums?

Whistler or Bust?
Guest
Whistler or Bust?

According to you you have made a shit load on your lot already so why not blow it out and make a mint??

Oracle
Guest
Oracle

Admin, delete the IP of the above “Oracle”. I’m being impersonated daily.

Oracle
Guest
Oracle

^^^^Wtf who is this impersonating me? Bunch of jealous pricks because ill soon be a land baron and you will be paying a toll to cross my land.

Openhousemassacare
Guest
Openhousemassacare

HOW MUCH UR TRYING TO BORROW FROM THE BANK ?

Oracle
Guest
Oracle

More than you peasants can borrow.

Openhousemassacare
Guest
Openhousemassacare

I WAS ASKING THAT NICELY BUT IF UR GOING TO BE ASSHOLE THEN BE IT

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Oracle, before you rudely shut him down, maybe Openhousemassacare was about to say he would lend it to you.

Best place on meth
Guest
Best place on meth

What kind of scummy, filthy, barbaric vermin tell sovereign nations how they should be allowed to defend themselves?

http://www.voanews.com/a/china-ups-pressure-on-south-korea-over-missile-plan/3480077.html

Kim
Guest
Kim

China’s goal is to colonize Canada and then use it as a launch against the US. And hapless Canadians don’t even know what’s coming.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

It seems like a possibility, and one that the powers that be have not thought about (up until fairly recently perhaps).

xyz
Guest
xyz

Chinese deploy nuclear bombers amid fears World War 3 could break out

BULLYING China has raised the stakes by dispatching huge jets off the coast of Japan that are able to drop nuclear weapons sparking fears in the West.

http://www.dailystar.co.uk/news/latest-news/539800/south-china-sea-islands-Chinese-navy-Japan-world-war-3-stealth-warships

And defending themselves is something they might need to do….

Best place on meth
Guest
Best place on meth

What WW3?

The scum have no friends – ZERO.

It will be the worst beatdown any country has ever recieved and the most deserving.

Another century of humiliation is coming up.

Combat roach
Guest
Combat roach

McCallum is unpredictable, though. Maybe is just some kind of weird China fetish?

Whistler or Bust?
Guest
Whistler or Bust?

This is not a political forum but I would love to see Japan wake up and kick the ass of the Chinese once again.

It is not the number of warriors, but the heart.

xyz
Guest
xyz

@Whistler or Bust
“This is not a political forum”

In Vancouver, I think housing has become politics.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Yes, and also to get a full understanding of what is happening in our city, we have to think about the larger context of global politics and global pressures for economies to develop in certain directions.

Shut It Down Already
Guest
Shut It Down Already

Um, wow, you just quoted the Daily Star. I guess you’re not familiar.

Best place on meth
Guest
Best place on meth
Openhousemassacare
Guest
Openhousemassacare

SERIOUSLY WTF ?

Vancouver airport acts as major entry port for millions in cash smuggled by mostly Chinese citizens.

http://news.nationalpost.com/news/canada/vancouver-international-airport-acts-as-major-entry-port-for-millions-in-cash-smuggled-by-mostly-chinese-citizens

Combat roach
Guest
Combat roach

Those fuckers are unstoppable. They brought crime and scam to the levels of a cult and religion. And yet pick BC for a mass mission.

Best place on meth
Guest
Best place on meth

“Experts said Vancouver appears to be targeted by Chinese citizens because Canada’s forgiving border laws allow seized cash to be returned for minimal fines. As well, permissive property investment rules and loose reporting compliance in the real estate industry make Vancouver homes the perfect vehicle for illicit offshore investment.”

What’s it going to take for our pathetic government to look out for our interests and well-being instead of allowing our country to be raped by chinese scum?

Openhousemassacare
Guest
Openhousemassacare

The B.C. Real Estate Council has suspended the licence of a Vancouver realtor it alleges is a wanted fugitive who fled the United States more than 10 years ago just as he was about to be sentenced for drug trafficking.

http://vancouver.24hrs.ca/2016/08/21/realtor-accused-of-fleeing-us-drug-charge

http://www.recbc.ca/wp-content/uploads/Stephanian-Written-Reasons-for-Decision_Redacted.pdf

Jimmy
Guest
Jimmy

Haha he was very likely in witness protection!

xyz
Guest
xyz

Chinese Takeovers Trigger Global Backlash Ahead of G-20 Summit

China “remains the most closed to foreign investment of the G-20 countries,” David Dollar, a senior fellow at the Brookings Institution in Washington and former U.S. Treasury attache to Beijing, said in an e-mail. “This creates an unfairness in which Chinese firms prosper behind protectionist walls and expand into more open markets such as the U.S.”

http://www.bloomberg.com/news/articles/2016-08-25/chinese-takeovers-trigger-global-backlash-ahead-of-g-20-summit

xyz
Guest
xyz

We put a 15% tax on our residential real estate (only one area at that) and you’d think the world had ended with all the whining.

Best place on meth
Guest
Best place on meth

“Using a national-security rationale to blocking outbound investment by China “is far more confronting. It suggests that China is untrustworthy and has potentially nefarious intentions. ”

That’s because they really are untrustworthy and actually do have nefarious intentions.

Everyone’s now caught on to these slimebags.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

“The strains over China’s global buying spree are taking place against the background of a broader rethink of the West’s relationship with the emerging global power….

“In Europe, “there’s a growing sense of realism that China is not developing the way many hoped for only a decade ago, moving into the direction of a liberal market economy and embracing political opening,” said Jan Gaspers of the Mercator Institute for China Studies in Berlin.”

franko
Member
franko

Everyone’s caught on to the slimebags except airhead Justin.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Well after all, he hasn’t been in there that long. Think how enmeshed in all this Harper got us.

paulb
Member

New
113
Sold
138
TI:9396

http://www.paulboenisch.com

Lurker
Guest
Lurker

And sales outnumber listings once again reducing inventory. 10K by September is off the table. The crash train is coming to a stop.

Newcomer
Member
Newcomer

Realtors have been telling clients to wait until September to list.

Boombust
Guest
Boombust

Not so fast. Listings will take off once the turn of the tide becomes more widespread knowledge. BTW,, 138 sales is not a lot compared to other years.

Shut It Down Already
Guest
Shut It Down Already

Relative to inventory it’s pretty decent. You’d not expect high sales given there’s almost no product.

Billybonger
Guest
Billybonger

Hype bull

Why were detached sales plummeting before the tax was announced?

Why?

Why is Wanting Qu’s poor (I mean wealthy) mother in jail?

Why?

Oracle
Guest
Oracle

You better start working 3 jobs Willy Banger!

Prices are never going to your level.

Best place on meth
Guest
Best place on meth

Oracle, did you buy real estate so that your wife could stop prostituting herself someday?

When is her mortgage paid off?

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I want to know: where are the public records showing who owns which businesses in the city of Vancouver or more generally in the entire province? Are they hard for ordinary people to get at? I am not talking about publicly traded companies, but smaller ones. Isn’t it a citizen’s right to know who she is doing business with?

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName
For example, today I went into a business where a year earlier I had spoken to the owner and promised I would follow up at a later time. I went in to follow up, and it turns out, there’s a new owner. The previous one had recently sold the outfit. I asked “who is the new owner” and was given two answers: “some Asian investors” “I don’t know them”. So it’s not like there’s a guy (or woman) who is putting his heart and soul into making a local business work and grow and you can then relate to that person, and do business with him, depending on whether you personally trust him or his professionally behaving employees.. Rather, some amorphous group of people, possibly from afar, have bought this thing that someone else built up over manyy ears and… Read more »
Combat roach
Guest
Combat roach

Right, you have to make sure to not directly support criminals, communists, spies and other types of crimes that are usually associated with such kind of investors.

Hyper-mega-Bull
Member
Hyper-mega-Bull

What’s the narrative going to be once the phone a friend tax results in near zero foreign purchase (on paper) and prices keep going up?

Will people think that foreign money has been pushed out? Will the debate regress back to what it was 2 or 3 years ago with accusations of racism and blaming lending?

Or will people realize that they are dealing with expert tax evaders that operates in a parallel society with its own rules? The evidence is there.

I think we will go back to being lending and begging developers to build more sky boxes.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Don’t jinx things, please.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Go back to blaming lending

Billybonger
Guest
Billybonger

The real question is, did Oracle’s house (under construction) jump up a few grand today…or down?

Is it worth zillions now?

He is part of the ‘land class’, or something ridiculous like that.

Reminds me of all the neuveau rich in the US real estate boom ten years ago.

Perhaps, he is American?

Shut It Down Already
Guest
Shut It Down Already

Romeo Jordan, is that you?

Best place on meth
Guest
Best place on meth

Why do you suck so much at this?

Shut It Down Already
Guest
Shut It Down Already

I guess I’ve not wasted 10,000+ hours of my life doing it like you have?

Oracle
Guest
Oracle

Doesn’t really matter as the house will be paid off essentially.

Now, why don’t you do one thing for me. On the first of every month, after that rent cheque that you give , think about this and me: Well, I pocket that amount of money and save it for multiple vacations during the rainy season, may save it for kids post secondary, or may just reduce my work hours. Choices.

Or may buy a winter home in the Palm Springs area.

Best place on meth
Guest
Best place on meth

Rent cheque? What the fuck is a rent cheque?

The professional landlords I deal with use direct withdrawal.

Kim
Guest
Kim
Combat roach
Guest
Combat roach

Give him some credit, at least he is totally consistent with the business culture of the parties involved.

http://chinawatchcanada.blogspot.ca/2013/04/face-cultural-lyingcheatingstealing.html

Kim
Guest
Kim

This guy needs to be stripped of his license! Suspended one year? He already was suspended in 2012.

Kim
Guest
Kim

Why in the world would anyone buy into this market? It’s not even a “market”. It’s a casino and a scam. You can’t honestly tell me that you think a detached home is worth millions more one year over the last. The only way this can be is that this is being manipulated to the hilt by losers like this scumbag.

Combat roach
Guest
Combat roach

Suspensions are like rewards depending on business culture and environment. With more suspensions, one goes higher on the business ladder and more respect gets.

Jzc
Guest
Jzc

The site is alive. There must be other realtors working for FN, the owner,. Discipline ? What a joke!

YLTNboomerang
Member

I need to hire a translator to place an ad offering my services: Let me live in your west side mansion for 5 years rent free and you can put the title in my name thus avoiding capital gains when you sell it, avoid the empty house tax, and the place will be maintained and kept up. Once I get a good enough reputation I’ll just flip and deny any such contract and own the house.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

It might cost you the salary of a body guard.

YLTNboomerang
Member

Ha, no doubt!

Openhousemassacare
Guest
Openhousemassacare

Let’s Talk Housing Join the conversation
Please do the survey and share as much a possible

https://www.letstalkhousing.ca/

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

The first question on the survey is, to what extent do you agree that:
All Canadians have access to housing that meets their needs and they can afford. Housing is the cornerstone of building healthy communities and a strong Canadian economy where we can prosper and thrive.
_________________
I hope the rest of the questions are not like this. The statement about which you are asked to respond is TWO statements, not one, and they pull against each other.

I would answer a strong NO to the first part and a strong YES to the second. Yet they combine them in one question. WTF? How do they expect to responsibly report public opinion from such a survey question.

YLTNboomerang
Member

Sitting in the air canada loung and got a big pop up that access to vancouvercondo.info is disallowed due to “spyware and/or malicious sites”. WTF have our Maoist overlords taken over and monitoring now?

Combat roach
Guest
Combat roach

Perhaps a local censorship? RE triads and mafia might have strong connections, whatever might impact business…

Hyper-mega-Bull
Member
Hyper-mega-Bull

The site is on some blacklist. The firewall at my work also blocks it.

fred
Guest
fred

I was downtown Van on wifi at a major coffee chain and vci was blocked. I could still surf elsewhere like newspapers and such.

NNNNN
Guest
NNNNN

Yes most likely spyware. Apple devices can pick it up. Don’t bank using those computers you access this site from.

NNNNN
Guest
NNNNN

meaning iPhones detect a huge lag when typing suggesting incoming and outgoing data behind scenes.

OOOOO
Guest
OOOOO

Or you could just be talking out of your butt, both Symantec and Google list this site as safe:

https://safeweb.norton.com/report/show?url=vancouvercondo.info
https://www.google.com/transparencyreport/safebrowsing/diagnostic/#url=vancouvercondo.info

Make sure your tin foil hat isn’t too tight.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I’m going to put mine on. I always distrust super antagonistic aggressive responses to legitimate security and privacy concerns. If you would like me to spell out the reasons why, just say.

YLTNboomerang
Member

It is super laggy con comments, what’s up with that?

Openhousemassacare
Guest
Openhousemassacare

Ian Young – Quebec Immigrant Investor Program Adding to Housing Crisis

https://www.youtube.com/watch?v=758TrgsF05Q

Openhousemassacare
Guest
Openhousemassacare

• Richmond. From Aug. 1 to 15 last year, Richmond had 89 detached sales. For the same period this month, 12 homes were sold.
• West Vancouver: Last year, 59 detached homes were sold during the first half of August. This year, nine.
• Vancouver’s west side: 72 detached homes were sold in the first half of August 2015, but only 15 this year.

http://www.theprovince.com/news/local+news/summer+slump+metro+vancouver+house+sales+plummet+after/12148802/story.html

Hyper-mega-Bull
Member
Hyper-mega-Bull

Last year had an unusually high number of sales. So comparing this year with last doesn’t tell us much. Looking at the 10 year average would be better. But that doesn’t make for good bear stats porn.

Openhousemassacare
Guest
Openhousemassacare

Danny Evans, a Langley-based realtor (WHAT A SCUMBAG AND TAX DODGER PARTICIPANT )

He believes offshore buyers will find ways around the new tax. He said he has already seen that happen in one sale I’m sure there is a lot of people that will no longer go on title, but there still will be money coming in from China,” he said. “It all now will be under the table, and there will be side deals for the people that are going on the title (as owners).”

Whistler or Bust?
Guest
Whistler or Bust?

Should he not report this? Is it not his duty?Lol

Combat roach
Guest
Combat roach

Here comes the opportunity to “walk the talk” and make an appointment with that scumbag Danny, just for practice and consulting…

“OTTAWA — The federal government is hoping to crack down on tax cheats and increase government coffers by boosting the Canada Revenue Agency’s budget.

The Liberal government’s first budget, released Tuesday, included an additional $796 million over five years to the tax agency so it can tackle tax evasion. More than half that money, $444.4 million, was set aside to help combat tax avoidance and evasion by hiring new auditors and specialists to increase verifications, improve investigative work and develop a “robust business intelligence infrastructure.””

Madashell
Guest
Madashell

Morgan Stanley noted that China’s “Minsky Moment” has finally arrived, we now can judge them by their actions.
Exhibit A: Cash-strapped Chinese are scrambling to sell their luxury homes in Hong Kong, and some are knocking up to a fifth off the price for a quick sale, as a liquidity crunch looms on the mainland.
The good news? All those inaccessibly priced houses that were solely the stratospheric domain of the ultra-high net worth oligarch and criminal jet set, will soon be available to the general public. Especially once the global housing bubble pops, which may have just happened.
http://davidstockmanscontracorner.com/another-china-crack-ultra-luxury-hong-kong-real-estate-being-dumped-for-cash/

Jaybrown
Guest
Jaybrown
My reply to Ian Young’s most recent article: http://www.scmp.com/news/world/united-states-canada/article/2008684/canadas-tax-agency-out-blood-not-global-income#comments Hi Ian, If anyone googles “CRA Lifestyle Audit” it is explained that if the income amount does not match the assets, then it is up to the individual to prove his source of income to the CRA’s Satisfaction. In this case, these individuals have not been asked to do this since 1996. So I assume that many were and are living here, declaring low incomes while living in luxury priced homes and driving luxury vehicles, etc. If these individuals in question were to be given a lifestyle audit, not only would they have to prove that their sources of income match their assets, but they would then be liable and on the hook for not declaring this income for years while living here, which would be subject significant back taxes and… Read more »
Openhousemassacare
Guest
Openhousemassacare
Combat roach
Guest
Combat roach

POS Victor Wong is there in the full swing. Motherfucker is shilling and posting usual garbage as per cartel’s directive.

Best place on meth
Guest
Best place on meth

Victor Wong needs to be put on a terrorist watchlist.

Jaybrown
Guest
Jaybrown
Hyper-mega-Bull
Member
Hyper-mega-Bull

5 Chinese nationals arrested for allegedly running sex slavery ring in US

http://www.latimes.com/local/lanow/la-me-ln-trafficking-ring-20160823-snap-story.html

Robert James
Guest
Robert James

These vermin are operating in the US, so far..Just keep this sub human filth out of my country..

Madashell
Guest
Madashell

US Fed’s Esther, George, Kaplan and Dudley had called for a US interest rate hike.

franko
Member
franko

Maclean’s: “Canada has no coherent policy on China”

It’s questionable if McCallum has enough healthy brain cells remaining to be coherent about anything. Might have better luck as a contender in a Nick Nolte mugshot contest.
Fortunately, no pollution in Justin’s head. Unfortunately, just AIR.