Friday (afternoon) Free-for-all!

It’s that time of the week again!

Let’s do our regular end of the week news round up and open topic discussion thread for the weekend.

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

Ottawa making housing fix a top priority
Thanks for the help
Impact of housing on economy
Fake assets
Goodbye Vancouver
Empty Land
Household debt bigger than GDP
Average Weekly Inventory chart
Why the borrowing binge will end badly

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

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Best place on meth
Guest
Best place on meth

Due to heavy rain , I am cancelling my Christy Clark effigy burning at tomorrow’s rally.

I will be setting her face on fire at another time.

Shut It Down Already
Guest
Shut It Down Already

When you pay $1400/month rent i’d suggest not burning anything that won’t keep you warm.

Best place on meth
Guest
Best place on meth

Once again, I have no idea what the fuck you’re trying to say.

Don’t post while high. Better yet, don’t post at all.

Best place on meth
Guest
Best place on meth

Move to Cape Breton and they’ll give you a job and 2 free acres of land.

https://www.facebook.com/FarmersDaughterCountryMarket/posts/1144339918971914

Combat roach
Guest
Combat roach

Rigged’ Mortgages Have Made Second-Class Citizens Of Canadians

http://m.huffpost.com/ca/entry/12047756

chilled
Member
chilled

I can’t read this stuff. Not because it isn’t true, but rather it gives credence to a loony toon left wing media, saturated with politically correct social justice warriors, who facilitated this breakdown of Canada, probably more than any other single entity. Everyone patting the Globe and Pail on the back for recent articles. Am I the only one that remembers this?

http://www.theglobeandmail.com/news/national/time-to-lead/rethinking-immigration-the-case-for-the-400000-solution/article4170229/

This f*****g myth that we would all be living under bridges in cardboard boxes without high immigration numbers HAS TO STOP. This bullshit has been shoved down our throats for the last 30yrs and has it worked?

I’m certainly not blaming immigrants for the slide in Canada’s standard of living, I’m simply saying THE NUMBERS ARE FAR TOO HIGH for what our infrastructures can absorb.

Newcomer
Member
Newcomer

Yes, which means we have to build more infrastructure, which is one of the key steps in economic progress. More people, more consumers, more workers, more taxes, more infrastructure and so on. We’ve been doing in since the start. It’s what we do. Get used to it.

Slava
Guest
Slava

Yes, we do have to build more infrastructure as we haven’t done so for 20 years. And when it is built it might eventually catch up to the existing population.
But immigration has its limits. Now we have to encourage the people who are here to have children, if you want more people. This can be done by tax breaks and grants for having children, as well as subsidized child care, etc. Immigration is not needed.
But the counter argument is why do we need excessive growth? We don’t. Only profits for the big boys is what matters, and that is why they want growth.

xyz
Guest
xyz

@ Slava

This can be done by tax breaks and grants for having children, as well as subsidized child care, etc.

Here’s my take on that.
Tax breaks, Grants, Subsidies to compensate for high cost of living/housing brought about by Tax breaks, Grants, Subsidies.

Newcomer
Member
Newcomer

There are a lot of advantages to immigrants over higher fertility rates. They bring new ideas, new ways of doing business, new food, new skills, etc. This encourages change, innovation, and growth. They are pre-educated before they get here, which saves money, and they work harder and start more business than native-born people. To top it off, it’s super easy. People are literally lining up to get in. All you have to do is say yes. No tax breaks or subsidies needed.

Look around, it’s a big country. There’s no need for us to hog it.

Chip
Guest
Chip

Unfortunately, immigrants are described by Statscan as one of three groups most prone to poverty. Studies show most immigrants never catch up to native median income. The Fraser Institute calculated the net cost of immigration as $22 billion a year. And of course the current government has just changed the policy away from skilled immigrants to family class, which will mean more costs.

Combat roach
Guest
Combat roach

Immigrants – yes, locusts with an entourage – no.

patriotz
Member

” This can be done by tax breaks and grants for having children, as well as subsidized child care ”

This is exactly what Quebec has been doing for decades and their birth rate differs little from the national average. I do think that bringing housing costs down in Vancouver and Toronto would encourage people to have more kids.

http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/hlth85b-eng.htm

Oracle
Guest
Oracle

Spoken like a true immigration pumper. higher numbers will mean higher prices.

But of course you already knew that.

Wolf in Sheeps clothing trying to confuse the bewildered bears here.

Lowering immigration will immediately lead to lower prices.

paulb
Member
Active Member

New
158
Sold
115
TI:9724

http://www.paulboenisch.com

Mike P
Guest
Mike P

“British Columbia will haul in more tax revenue from the sale of homes this year than its combined revenues from the province’s historical economic foundation of mining, energy, forestry, Crown land tenures and natural gas.”

Home sales eclipse resources as B.C.’s top source of revenue

http://www.theglobeandmail.com/news/british-columbia/hot-real-estate-market-lifts-bc-budget-into-billions/article31901625/

Bear Vancouverite
Guest
Bear Vancouverite

There is a property in Richmond that I have been keeping my eye on for my own “benchmark” purposes. I found out that it sold this month, at around 5% below its list price. The house is fairly pricey (over $1.2M) and on a very small plot of land (~3000sq ft land).

The 5% below list price is not a particularly encouraging figure. I thought the list price was quite high and was kind of testing the upper bounds. In 2015, larger houses on 4000sq ft lots in the same area were selling at the same list price, so you an argue that the current house sold at 25-30% premium over 2015 prices.

Combat roach
Guest
Combat roach

There’s a sucker born every minute even when while bubbles burst.

YVR
Guest
YVR

So you are saying that Rich house that just sold for $1.15 would have only sold for $950K in 2015? Either a really big fool bought it or you are misjudging things. All SFH in Rich, Van WV and Burn can be bought for 2015 prices or at least 20% off peak. Sure you cannot buy any house you want (some sellers will hold out) but you can get a house in one of those areas for that if you want to buy. Post the address and lets see if your assumptions are correct. I say no way.

Billybonger
Guest
Billybonger

Shit gonna get crazy

BiggerDaddy
Guest
BiggerDaddy

Made in Communist China is the new religion.

Madashell
Guest
Madashell

This is getting creepy: ‘Save the foreign tax’: Cemetery advertises burial plots to foreign buyers
http://globalnews.ca/news/2945563/save-the-foreign-tax-cemetery-advertises-burial-plots-to-foreign-buyers/?sf36177871=1
Now we want their dead too!

Best place on meth
Guest
Best place on meth

We want them ALL dead.

Madashell
Guest
Madashell

“Scotiabank’s guidelines specify that loans officers do not need to verify foreign clients’ sources of income if they make down payments of 50 per cent. At BMO, such clients need only 35 per cent down to qualify for mortgages up to $2-million,” the Globe said in the report. “The criteria from both banks show income verification is also not required for new immigrants who have been in Canada less than five years if they put 35 per cent down.”

This seems to be in direct opposition of OSFI’s July letter, which states it “expects all financial institutions to exhibit rigour in the verification of a borrower’s income as it is a critical element in the residential mortgage underwriting process.”

http://www.mortgagebrokernews.ca/news/osfi-responds-to-globe-and-mail-report-213833.aspx

Diadora
Guest
Diadora
Chinese Laundry = Vancouver Real Estates Is Kathy Tomlinson of Globe and Mail suggesting in couched terms that Canada has become a Chinese Laundry? It seems our politicians know this and haven’t got the balls to stop financial institutions who help new Canadian friends load up the Maple leaf emblazoned laundry basket. Bank’s Provide the Soap “If local people – when they go to the bank – say ‘I want to buy a property. I have 35 per cent to put down and enough to support one year of payment,’ I have to say no. I have to verify income before I can say yes,” he said. “I don’t think it is fair. And it pushed the market prices so much higher, because the people who are buying don’t really care if they can afford it – they just want… Read more »
patriotz
Member

With an election approaching, Christy Clark suddenly cares a lot more about housing

He said the government will next week reveal $500-million worth of new imperatives aimed at housing affordability. I’m told that won’t be the end of the announcements either. They will go on for weeks, and perhaps even into next year.

And this really means putting money in buyers’ pockets to keep prices up. You heard it here first.

MarKoz
Member
Active Member

Absolutely. And did you notice the ever popular, “We thought we had a $.3 billion budget surplus but were shocked to find (that due to our amazing financial stewardship) it is actually $1.9 billion. Woo Hoo! Free money for campaign promises!”

YVR
Guest
YVR

CC has been pretty vocal we need more supply. Incentives for buyers do not change that. She is going to have to address the supply part. I see them doing something to speed up the development process by forcing citys to make changes to speed up the DP BP process (which would be a big help to the developers who fund her). I think they are going to start pulling land out of ALR as well. They just need time for insiders to take their positions. Also a big help to developers.

patriotz
Member

Want to increase supply? Bring more properties on to the market.

– Get rid of the property tax deferral system which encourages people to stay in properties that are too big and they can’t afford.
– Adopt the NDP’s property tax penalty for owners who don’t pay income tax.

The Big Lie is that not enough housing is being built for a growing population. The truth is that provincial government policies encourage housing to be left fully or partly empty.

Of course what I expect the government to actually do is to hand out money to developers as an incentive to build more.

realist
Member
realist

Yes, because the developer is the the player in the RE market that the Liberals care the most about.

Best place on meth
Guest
Best place on meth

The only supply increase she cares about is condos, we already have enough of that shit.

She should be promoting public housing, co-ops, and rental building and I’m nearly 100% sure that’s not going to happen.

realist
Member
realist

“She should be promoting public housing, co-ops, and rental building”

She should be, but governments have succeeded in making the last option, the building of market residential rental housing, financially unattractive to the private sector. This is quite an accomplishment in itself, as it flies in the face of centuries of economic history, but with very negative consequences for Joe & Jane Renter.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

“She should be promoting public housing, co-ops and rental buildings”
I want a T-shirt that says that.

BubbleTea
Guest
BubbleTea

Krusty, there are 10,800 vacants in Vancouver! Make it illegal for foreigners to own BC real estates and the problem will disappear right away.

UBC in Crisis Mode
Guest

Great weekend for open houses, as there are too many ready for foreign buyers:
In Van West, 117 are $2 million +, and do not miss this one:
Bought for $4 million, renovation $1 million, asking for only $9 million:
http://www.realtylink.org/prop_search/Detail.cfm?areatitle=&ARPK=&ComID=&agentid=&MLS=R2091209

just me
Guest
just me

And it begins!
http://vancouversun.com/opinion/columnists/huge-tax-windfall-highlights-b-c-economys-dangerous-dependence-on-real-estate

Media ‘pundits” are starting to imply that we should be careful what we wish for. We should embrace dirty money from China, as it generates positive returns in terms of jobs and tax revenues.

Be mindful of these sophists pandering to the masses: they do have the power to sway elections.
BC was much better off before this wall of dirty money hit us! Reject these ideas, and the BC Liberal party.

Just me
Guest
Just me

New evidence that the BC liberals were still recently promoting residential investment by wealthy Chinese.
http://www.straight.com/news/784511/premier-christy-clarks-trade-delegation-china-included-vancouver-real-estate-firms-eye

The sooner we replace the BC libs, the sooner this market will return to sanity.

Just me
Guest
Just me

I wonder how much of this happens in Vancouver, unnoticed.

http://www.theage.com.au/victoria/suspected-chinese-australian-money-launderer-gambled-astronomical-850m-at-crown-casino-20160916-grhuvj.html

Incidentally, the BC goverment and Christy Clark hauled in a record 1.2 billion dollars in tax revenues in 2015. It is one of the main economic engines in BC, together with real estate speculation. Gambling on green tables and condos, this is the new economy of BC.
I frankly look in dusgust to what the Liberals have managed to do in the oast 10 years. If simeone had told me this would happen, I would have called the catastrophists. And yet, here we are.
Vote out the BC libs in 2017. Our only hope to salvage what us left of our city.

Madashell
Guest
Madashell

In light of the cheating of mortgage applications by Mainland Chinese and big banks, how many of the houses in the lower mainland are underwritten by money laundering and fake offshore collateral? Isn’t it time for the government, fintrac, OFAI to stand up and do their jobs.

PCC
Guest
PCC

Is there no end to lying and cheating from this group of immigrants! They were caught lying on the immigration application and now they were caught lying on their mortgage application. Pay no fair share of taxes and take advantage of the generous Canadian systems. I am of ethic Chinese and I do not want to be associated with the current batch of scumbags. These people are turning a once proud country into a door mat.

just me
Guest
just me

When historians will describe BC in circa 2016/17 they will describe a place whose economic boom is driven by money laundering, gambling, RE speculation and “investor” college students from China. Government coffers are full of tax revenues, so we should all just shut up and enjoy the good times.
Was it not better before, before this wave of illicit and tainted cash hit our shores? Isn’t the duty of our elected officials to protect civil society by this pervasive corruption?
Left unchecked, this degradation of moral standards will lead to some major unwinding of our social contract. Each and everyone fending for themselves, hoping to benefit in some way from the proceeds of laundered money.
How soon before we and our kids will consider ourselves lucky if someone wants to buy us out?

Oracle
Guest
Oracle

It’s already happening. The suckers are the hard working locals on a salary who can only expect their taxes to go up so infrastructure can keep up with the population growth.

Rich immigrants don’t come here to pay taxes. Reread that. If you believe otherwise, you are the biggest fool. The local salaried tax payers will continue to bend over. Suckers.

Combat roach
Guest
Combat roach

All good points but how about if new society is getting created with all usual attributes of upcoming majority? Perhaps what are we experiencing is just a transitional phase going from what once were Canadian way of living to Chinese way of living?

Schrauba
Guest
Schrauba

Why voting on VCI doesn’t work on iPhone, iPad, iOS?

MarKoz
Member
Active Member

Voting doesn’t work in Safari either. If you have a Mac computer, you can download the Firefox web browser and you can vote in Firefox.

Patiently Waiting
Member
Patiently Waiting

Does Firefox still suck?

southseacompany
Member
southseacompany
“Vancouver’s cooling market is a welcome development, but delicate”, Globe & Mail http://www.theglobeandmail.com/report-on-business/rob-commentary/vancouvers-cooling-market-is-a-welcome-development-but-delicate/article31931766/ “In the end, the implementation of the 15-per-cent foreign buyers’ tax is also treating the symptom of a much bigger problem: The ultra-low interest rate environment that’s ultimately leading to more risk-taking by global investors and Canadian homeowners.” “The Vancouver housing market is set to open a new chapter. We won’t pretend to know what the ultimate result will be, but at this stage, Vancouver’s current cooling appears to be a much more desirable outcome than the skyrocketing prices seen in recent years.” “At the same time, however, the market is moving closer to a scenario where an outright decline in home prices could bring a broad-based loss of buyer confidence. In such a event, some highly vulnerable borrowers could have to absorb a drop in their… Read more »
Disgruntled condo owner
Guest
Disgruntled condo owner
“At the same time, however, the market is moving closer to a scenario where an outright decline in home prices could bring a broad-based loss of buyer confidence. In such a event, some highly vulnerable borrowers could have to absorb a drop in their assets’ value. This would exacerbate a tailspin in the housing market” I always hear this from politicians esp Christy Clark, what do these people want??? To somehow “cool” the market WITHOUT LOWERING PRICES? HOW DOES THAT MAKE ANY SENSE. News flash BC Libs: corrections are healthy in any market, this housing bubble no less so in fact far MORE so. But no, 100-200 years of flat prices or even rises but just a hair below inflation is their desired outcome to bring housing in this city back where it should be. It’ll just take 2 centuries… Read more »
Tim
Guest
Tim

Same as the GG emissions file. They want to appear to care while, making ineffective moves they intend to have no real impact. Bullshit and kick the can down the road for as long as possible.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Make sure to push strongly for the NDP then. There’s got to be a change of govt. There is a portion of the population habitually Liberal or Conservative voters, will work from stereotypes and generalizations unless shown otherwise. They will change their minds if they understand the extent and nature of the housing problem and the range of policies that are needed to address it.

Billybonger
Guest
Billybonger

The economist for the lenders thinks prices will fall a bit and start going up next year.

The university academics see a much more dire outcome.

Oracle who is right?

Oracle
Guest
Oracle

If Hong Kong is any indication, prices are set to skyrocket again. Simply because the hundreds of thousands or rich PR chinese here are gonna bring n more money.

Not likely guys like you will want a limit policy like one house max per family. So yeah, rest of stuff like 15% tax is hot air.

And the 15% tax, watch the numbers next week. I’m told a huge percentage of buys of condos were foreign students.

Newcomer
Member
Newcomer
JayTor
Guest
JayTor

sounds about right, it’s going to be ugly when it happens. There is no such thing as a soft landing when a bubble corrects.

chilled
Member
chilled

Wow, I saw BPOM and Space going at it down at the HALT thingy today!!

https://i.ytimg.com/vi/Xi0L2dFt0mg/hqdefault.jpg

MarKoz
Member
Active Member

Who won? Oh wait, I don’t care.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I saw Space I think. He must have been the one smirking and amused when one of the speakers explained how when a piece of property with a co-op on it was redeveloped, units were sold for 10 times the amount of what the units (of a perfectly good building containing long term residents) were worth before development. 200,000 to 1.93 million.

southseacompany
Member
southseacompany

“Ex-Wall Street Trader: I’m shorting Canadian housing”, BNN video

http://www.bnn.ca/video/ex-wall-street-trader-im-shorting-canadian-housing~939956

“Former Wall Street trader and Editor of The 10th Man, Jared Dillian, tells BNN why he’s shorting the Canadian real estate market and why he thinks the Bank of Canada will be cutting interest rates.”

Newcomer
Member
Newcomer

Who is the douche interviewing him? I’m in the middle of watching The Big Short on Netflix. He sounds like he’s reading the lines from the stupid people at the beginning of that movie.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

By the way, you can also watch it on Youtube for free.

MarKoz
Member
Active Member

More Crazy From Hong Kong…
Hong Kong property sales leap 35 per cent as investors join buying frenzy
“The recent buying mania is partly driven by the easing of interest rate expectation last month and investment demand,” said Sammy Po, chief executive at Midland Realty’s residential department.
Investors accounted for about 30 per cent of purchases at new project launches in the past two weeks compared with 20 per cent earlier in the year, he said.

And this despite government “cooling measures”.

http://www.scmp.com/property/hong-kong-china/article/2020072/hong-kong-property-sales-leap-35-cent-investors-join-buying?utm_source=edm&utm_medium=edm&utm_content=20160917&utm_campaign=scmp_today

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

I’m very curious as to what the best guess is about interest rates in Canada. Are they going to keep them down or try to send them down further?

Also, who’s in charge here in this country? Is it the banks?

Also, if the NDP is our best hope for getting rid of CClark and company, and having reasonable housing policies in this province, who other than the Liberals would potentially attempt to interfere with that outcome?

Truth
Guest
Truth

Banks are in charge.

Then come the oligopoly corps (Rogers, Air Canada, etc.) protected by legislation and the Mainstream press (7 families control most media here).

Politicians can’t effect much change anymore since the gov ministries are already infiltrated.

hence the population (ever increasing immigration) must grown at all costs mentality.

realist
Member
realist

You pose deep questions. IMHO, here are my best answers:
“best guess about interest rates in Canada.” The trillion dollar question. Negative interest rates and the end of cash are in our future, post the next recession, if elite globalistas have their way…but will they?
“who’s in charge here in this country?” A feckless poodle named Kid Trudeau, who having drunk the globalist Kool-Aid, is the globalists’ cool tool par
excellence. He will preside over the destruction of Canada as Canadians have known it, while taking orders from the banks, oligopolies (as pointed out by Truth), and Quebec.

HAMster
Guest
HAMster

Housing minister to close fixed-term lease loophole.
http://www.news1130.com/2016/09/16/housing-minister-to-close-fixed-term-lease-loophole/

This is excellent news.

YVR
Guest
YVR

Yup looks like the fixed term lease scam is done. Also larger penalties for landlords that break the rules.

Coleman also indicated he was working on other changes to update the Residential Tenancy Act, including bringing in larger financial penalties for those who break the rules.

http://www.cbc.ca/news/canada/british-columbia/fixed-term-leases-1.3766245

Tim
Guest
Tim

” larger penalties for landlords that break the rules.”

Oh, maybe twice as large? 2 times zero is still fucking zero. The tenancy office is a joke for both landlords and tenants, 99% of the time.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

One thing that needs to get fixed is what they are charging for parking, Ever wonder why there are so many cars parked on both sides of the streets now?

Shut It Down Already
Guest
Shut It Down Already

Conversion of parking lots into towers?

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

Maybe you never walk around the area from Alma to Cambie, between 16th and 4th.

space889
Member
space889

Maybe too many people have cars? One parking stall per unit usually but then both people have cars.

space889
Member
space889

How is it a scam when both parties enter into the contract willingly and know the terms? if they remove the vacate clause from leases, or only allow max increase between lease renewals, the only ones that are hurt long term will be the renters, not the landlord. Rental controls in a market without excess rental supply or massive gov’t subsidies or housing simply don’t work. The ones hurts are the most vulnerable.

Tim
Guest
Tim

You’ve used the fixed term clause, haven’t you space?

space889
Member
space889

I signed fixed term clause, and month to month. For renter, yeah, month to month is more advantageous most of the time. For landlord, fixed term lease with vacate clause is better. However, I see nothing wrong with landlord demanding it. If you don’t like it, rent from someone else, or pay more so the landlord is willing to month to month.

If you are the landlord, why wouldn’t you want a lease with vacate? And why shouldn’t you have the right to demand it? A lot of commercial leases are triple net which is even more onerous on the renter.

YVR
Guest
YVR

“How is it a scam when both parties enter into the contract willingly and know the terms? ”

There are lots of things that the government does not allow for people to enter into contract. For example you cannot sell me your kidney even if we enter into a contract. We need rule of law because slimy people will take advantage of vulnerable people.

Best place on meth
Guest
Best place on meth

In his country, the slimy people just take kidneys from anyone they don’t like.

space889
Member
space889

Entering a fixed term contract is the same as selling a kidney?? Seriously?

So I guess when you enter a hotel that you booked for 4 nights, you don’t believe the hotel has a right to kick you out or refuse to continue rent after 4 nights? Cuz that’s a fixed term contract with vacate clause too.

space889
Member
space889

What the renters have to get through their head is that landlords aren’t running a charity business and the gov’t aren’t going to provide free housing to everyone.

You want lower rents? Increase supply and decrease costs for the private market, or have gov’t build rental house enmass – how did that work out in those commy countries and their drape buildings that everyone on here loves to laugh at?

Tim
Guest
Tim

Yes, only hello holes like the Netherlands have widespread social housing.

You really do seem to match the stereotype of a post-communist capitalist. It seems that in your mind there’s just communism or full-asshole capitalism, with no viable middle ground.

space889
Member
space889
Name one single agency the local gov’t has managed effectively? Name anything where voting out the existing gov’t have improved things? I can’t think of any off the top of my head since BC Lib and Vision Van has been elected. Name any effective policy that would prevent capture of gov’t by special interest groups & big donors? Again none. So, no, any gov’t solutions via gov’t agency & heavy reg would likely result in the worse of both capitalism & communism combined. Also, last time I check, we ain’t exactly flush with cash and we already have a high tax burden. Why spend money we don’t have or increase tax burdens when the private sector can solve the problems fairly easily with proper incentives? The simplest question to ask is why have developers stop building purpose built apartment buildings?… Read more »
tim
Guest
tim

“why have developers stop building purpose built apartment buildings”

Oh, oh, I know!

Giving condo developers like Bob Rennie a super easy ride, lax CMHC policies to herd people into mortgages, and insane property values due to widespread tax fraud based on the “principle residence” exemption.

CanNeverThinkOfAGoodName
Member
CanNeverThinkOfAGoodName

No. That old refrain doesn’t fly in the context of Vancouver real estate Space. Capitalism and making a fair profit are not the issue. People with fully paid buildings and no special costs, upon news of the low vacancy rates ALONE, are now doing cheatsy things with the rental arrangements, including with parking. Of course the City is not helping at all from what I hear, at least with respect to how it uses or fails to use taxation to encourage ordinary apartment buildings to continue to be rented out at reasonable rates.

Patiently Waiting
Member
Patiently Waiting

Yeah, in an ideal world we wouldn’t need so many rules and regulations. Time and time again, certain kinds of landlords do shady stuff that requires a government crackdown. Then the more law-abiding landlords have such a hard time evicting truly bad tenants. Oh well.

space889
Member
space889

So for taxation, what policy would you have city enact that would lower rent? If someone is willing to pay $2K/month for my place, why would I lower that to $1800/mon just because my tax payable went down $200/month?

And as a landlord, why would I not have a lease with vacate clause? Why would I want to take the below market rents if I don’t have too?

Sure, stable good tenants has its benefits, but what’s the breakeven point? $100/month? $200? $500?

YVR
Guest
YVR

What you have to get through your head is you are an idiot and need to go do something more productive with your life than troll on this site. Why don’t you and Oracle set up your own blog and circle jerk each other.

space889
Member
space889

Hmmm….so I’m an idiot for stating basic economic principle and the experience of pretty much every city that has rent controls.

But you guys are genius for being wrong about the RE market for close to a decade?

I’m a troll for pointing out BS but posting BS and racist remarks are value creating contributions?

hahahaha….

It’s true what they say about trying to educate morons, they don’t get smarter and you are just wasting your time.

Best place on meth
Guest
Best place on meth

so I’m an idiot – CHECK!

I’m a troll – CHECK!

But you guys are genius- CHECK!

Apparantley you CAN re-educate a brainwashed piece of chinese shit.

wpDiscuz