And now a political message from Dave

Dave sent in the following opinion, in which he throws up his hands in despair at the state of politics in BC and its role in the housing bubble.

If there was ever an election to vote for None of the Above, this would be it.

I no longer believe that any of the three major parties represent the interests of the average British Columbian. Each have sold themselves out to Special Interest groups of one type or another.

I’ll first start with the BC Liberals because they are looking for a fifth term. I have been a party member, volunteer and voter for the BC Liberals each of the last four elections. I am also a small business owner and employer and I generate a healthy income. In theory, I’m the easiest vote the Liberals should ever get. But they aren’t getting my vote this time.

The reason is that they have sold themselves out to the real estate industry. We have a dozen schools in Vancouver on the verge of closure while cranes and new condos can be seen in every direction from those schools. If there was ever a posterchild of public policy failure, this is it. There is a lot of blame to go around to all levels of government, but the BC Liberals are certainly culpable. Remember, Clark ran the last campaign with the slogan of ‘Families First’. I suppose we could applaud her for having a sense of humour, but I don’t think her idea was ‘Families First to Leave’.

But, what about the foreign buyer tax you might say? Too little, too late. The BC Liberals have done almost everything to bring foreign money into our real estate market for the last decade. And now to prop up the market, they are giving out tax free loans to first time home buyers. This was done to counteract recent and much needed tightening on lending by the CMHC.

The NDP unfortunately haven’t modernized or changed since they were last in power in the 90’s and I would argue they were outdated then. The NDP still view the world from the 1960’s vantage point of class warfare and almost all their policies are informed by this. This is despite other left of centre parties in Britain and the US showing the way a left of centre party can modernize. If they win, Horgan will hand over the keys of government to their long line of special interests to play their games of social activism… at your expense.

I expect the NDP will once again be a disaster for infrastructure and major capital projects. Their lack of support for Kinder Morgan, Site C and almost every major capital investment will most certainly cause an economic downturn and loss of jobs in the first year or two of power. The NDP will go back to their old model of infrastructure development, which they view as a tool for social activism. And just like the Fast Ferries, those projects will ultimately fail at serious financial cost to the taxpayer.

The Green Party is a platform for environmental activists to virtue signal. Improvement of the environment is only a secondary consideration and their policies fall apart with only the slightest bit of scrutiny.

For example, there is no dispute that natural gas generates less carbon emissions per unit of power generated compared to other hydrocarbon sources such as coal or oil. It’s simply not possible to transition our economy away from hydrocarbons which makes natural gas a great transition fuel and helps move us towards a less carbon intensive economy. Yet the Greens oppose LNG, which is truly a green undertaking.

Site C is the greenest infrastructure project to be undertaken in BC in the last 40 years. Hydroelectric power is clean and renewable and it generates almost zero carbon emissions. The Greens would have you believe that BC doesn’t need this power, yet our grid depends on hydrocarbons including US coal burning plants. Hardly a green policy. Yes we are going to lose some farmland, but take a drive three Provinces to our right and you’ll see that we’re running out.

The construction of Site C will also cause more green power to be developed and connected to the North American electrical grid. A hydroelectric dam can immediately top up a shortfall of power during low generation time periods which is the biggest problem with green power such as solar and wind. This is a much needed element for our eventual transition to electric cars, which we’re on the verge of achieving.

Andrew Weaver knows this all too well because one thing we can’t accuse him of is being stupid. I suspect he’s a victim of Stockholm Syndrome in that if you surround yourself with crazy, eventually it rubs off.

I think it’s a sad time in BC for democracy. I don’t see anybody representing the interests they purport to and certainly none of them stand for yours.

On May 9th, my vote will be “None of the Above”. Will you join me?

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Hyper-mega-Bull
Member
Hyper-mega-Bull
trackback

[…] –blame politicians […]

Just me
Guest
Just me

We looked at every B.C. government spending announcement over the past month. Here’s what we found

http://www.cbc.ca/news/canada/british-columbia/bc-government-spending-announcements-1.4027251

Election Advice
Guest
Election Advice

The bubble continues because of foreign students and 10 yr visa holders.

Note the people on here who cry about high house prices and yet try to convince you to vote Liberal. They are liars trying to confuse the discussion.

Be aware.

Election Advice
Guest
Election Advice

I’ve crunched the numbers from the last election and all we have to do to defeat Christy is to defeat the Greens.

Andrew Weaver the leader of the Greens has been seen with BC Liberal supporters in the past. Spread the word that the Greens exist to help the BC Liberals and that will put the NDP over the top.

Spread the word.

Dave
Member

My personal experience is that Andrew Weaver is a dirtbag. I won’t go into the details for the sake of anonymity, but I think I’ve built some credibility here in the last ten years that you can trust me on this… guy’s a two faced dirtbag.

I’ll tell you his weakness…

He’s very sensitive that the Green Party is full of radical loons and he dislikes being compared to the Federal Greens. You need to come up with something that will stick against them around the idea that they have extreme views (which happens to be true, the media just won’t touch that).

Just me
Guest
Just me
How are Chinese business men going to borrow in China in order to buy nice things for wifey and junior in Vancouver? What is one to do when Shaughnessy prices are still as high as ever? The Maserati dealers must be in a panic…. http://www.straitstimes.com/business/china-lifts-short-term-rates-after-us-fed-move China’s central bank raised short-term interest rates yesterday, in what economists said was a bid to stave off capital outflows and keep the yuan currency stable after the Federal Reserve raised United States rates overnight. The increase in short-term rates was China’s third in as many months, and came a day after the end of the annual session of Parliament where leaders warned that tackling risks from a rapid build up in debt would be a top policy priority this year. Hours earlier, the Fed had raised its benchmark policy rate, as had been widely… Read more »
Just me
Guest
Just me

Music to my hears (Christy “Lying” Clark must be freaking out about this one)

http://www.nasdaq.com/article/china-outbound-investment-declines-528-pct-in-janfeb–commerce-ministry-20170316-01266

Whistler or Bust?
Guest
Whistler or Bust?

I am plugging my nose and voting Liberal. I know there needs to be a house cleaning but to me the NDP is not a viable alternative. Better the devil you know. I remember the 1990’s all too well.

Election Advice
Guest
Election Advice

Always knew you were a troll here.

Best place on meth
Guest
Best place on meth

You’re voting for the mafia, good for you.

Can you tell us what’s actually so bad about the NDP besides the usual vague crap about the 90’s?

Newcomer
Member
Newcomer

Monster.

Just me
Guest
Just me

Fair enough. But then don’t complain about high prices. You know exactly what the BC Liberals will do the moment they are elected again. They will prop up this market in every way they can.

Doomcouver
Member
Doomcouver

I’m beginning to think the housing bubble has detached itself so far from reality it doesn’t really matter who gets elected. Whoever is in office will get blamed for the crash though, so maybe it’s better the Liberals stay in power since they caused the problem through their own inaction. I’m voting NDP, they’re far less likely to attempt to re-inflate this monstrosity.

Van real estate buff
Guest
Van real estate buff

Mar 16, 2017 Daily Review Vancouver Real Estate Housing Bubble News #VanRE https://youtu.be/QO5dO-S9dvg

paulb
Member

New
147
Price Change
24
Sold
163
TI:8191

http://www.clivestevepaul.com

tom
Guest
tom

It looks like the bubble continues.

Doomcouver
Member
Doomcouver

I’d be interested to know what the average sale price is. My hunch is it’s probably mostly sales near the bottom end of the market. As single detached is crashing condos are taking off with the first time homebuyer teaser loan from the Liberals. FOMO is extremely strong in millienials right now.

Shut It Down Already
Guest
Shut It Down Already

zolo.ca

southseacompany
Member
southseacompany

“Lawrence Solomon: Who’s to blame for Toronto’s crazy real estate market? Surprise! It’s politicians”, FianacialPost
http://business.financialpost.com/fp-comment/lawrence-solomon-whos-to-blame-for-torontos-crazy-real-estate-market-surprise-its-politicians

“Unbeknownst to most tenants, their property-tax rate is three times that of homeowners since apartments are taxed at triple the rate of private homes’

“No money for a traditional down payment? The Canada Mortgage and Housing Corp. promotes down payments of as little as five per cent, encouraging tenants to get in over their heads by making a premature house purchase”

“To these major enticements into the home market are myriad others, all in aid of heating up the real estate market, among them the First-Time Home Buyer’s Tax Credit, the Home Buyers’ Plan provision for RRSPs, the GST New Housing Rebate, Ontario’s land-transfer tax exemption for first-time buyers and the absence of capital gains tax on primary residences. “

Just me
Guest
Just me

Finally someone who points out the obvious: all these forms of “help-to-buy” are actually making buyers worse off.

Christy Clark in particular should sit in an Econ 101 class and see what happens when you shift the demand curve by adding subsidies to buy.

The funny thing is: most people who want ever higher prices complain that we don’t let the market work freely enough. However, if we did, the market would adjust down!

southseacompany
Member
southseacompany

“House-price correction could be all but over”, Business In Vancouver

https://www.biv.com/article/2017/3/house-price-correction-could-be-all-over/

“It’s still too early to say if the Lower Mainland’s housing-price correction is over, but February data points in that direction.”

Doomcouver
Member
Doomcouver

Canadians are still in more debt than ever in our history, and interest rates haven’t moved much off their ridiculously low levels yet, but don’t worry everyone, the crash is over Please catch our falling knife and continue buying $1.8 million teardowns in Crackville. I find it hilarious how the MSM gets a massive boner for a dead cat bounce in real estate; Please make it less obvious how biased you are. Written by a “senior economist at Central 1 Credit Union”…. Imagine my surprise.

Newcomer
Member
Newcomer
Bear Vancouverite
Member
Bear Vancouverite

The Sale to List ratio they show seems to be miscalculated:

Detached 4BR: 107 listings, 44 sold, but that’s 98.55% Sales to List??

Newcomer
Member
Newcomer

Yeah. That’s confusing. It’s wrong for all of them. I seem to remember the sales/list number is for a different period but I can’t remember what.

Shut It Down Already
Guest
Shut It Down Already

I think it’s a ratio of prices not transactions.

Bear Vancouverite
Member
Bear Vancouverite

That makes sense, and is a valuable metric.

space889
Member
space889

So I take a break from sabaticaal and what do I see? The loonies are still running around the echo chamber and the racists are still pointing fingers at others as race baiters. And more and more of the real Vancourites are exposed. A bunch of self involved, money and entitlement obsessed spoil brats who thinks they deserve everything just cuz they would the genetic lottery. If they don’t get what they deserve, it is all those evil evil Chinese locusts fault . Don’t they know that they are only fit to be poor,doing menial jobs and forever thankful that Vancouverite allowed them to live in Vancouver? How dare they be rich and successful and give boomers millions of unearned equity .

Best place on meth
Guest
Best place on meth

What sabbatical, you asshole?

Not only have you been sock puppeting as kickthemout, but you miss hacking the vote so badly you’re resorting to logging in as both of your vile entities in order to vote down down tevery single post of everyone you don’t like 2 times. And when I say everyone you don’t like that nearly everyone on the blog.

Fraud seems to come naturally to you mainlanders.

Hyper-mega-Bull
Member
Hyper-mega-Bull

today i had to work with a millennial mainland girl . wow, you are so right. totally clueless! thinks that she can get me to do all her work by acting dumb and asking too many questions.

Bear Vancouverite
Member
Bear Vancouverite
“self involved, money and entitlement obsessed spoil brats” can easily describe many people on both sides of the debate, but not all people on only either one side. Things are never so black and white. I have close friend who owns, and his neighbour is a good example. Nice fellow, local born and working a good blue collar technical job to raise a family of 5. Hard working, generous neighbour who helps out others in his neighbourhood (things like helping to fix a broken sink, etc), and always willing to lend an ear. This is someone I respect immensely. He believes honestly his house is worth well over $4M and balks at any efforts or policy that might harm that value. He bought it for $400k maybe 20 years ago. He’s far from lazy or spoiled, but his attitude about… Read more »
Best place on meth
Guest
Best place on meth

“He bought it for $400k maybe 20 years ago. He’s far from lazy or spoiled”

If he thinks government should protect his $4M equity which he did nothing to earn, he’s spoiled.

Banned Oracle
Guest
Banned Oracle

Only those not caring about their neighbours will be successful going forward.

Thats how it is in India and China.

Do you think your friend cares about the homeless? Let him put his money where his mouth is. And I bet you he wants more refugees to keep coming in… his detached becomes more sought after in the longer term.

BubbleTea
Guest
BubbleTea

I am voting NDP because of David Eby. He is the only politician that points to a problem in housing.

Dave
Member

He has said a lot of intelligent things about housing and I think he deserves to get elected just on that.

space889
Member
space889

Yes, and pretty soon we will have social housing heaven where all the working class will live for free, and those greedy landowners are shot.

Banned Oracle
Guest
Banned Oracle

There are only like 30 or so people that visit this blog on a daily basis. So no one is going to sway the public on anything here. This leads me to my next revelation;

The REAL racists on this blog are the Chinese-Canadians that come here and demean people speaking against policy by bringing race into it. It’s like an anger toward anyone not Chinese.

We are protesting policies. We are trying to protect working people’s livelihoods.

I can’t for the life of me imagine what the situation would be if the Chinese get a majority here IF this is a harbinger of things to come.

To the locals: Get out and tell people to vote.

space889
Member
space889

You mean objecting to being called locust, and scums? What is a derogatory term I can call you with?

Banned Oracle
Guest
Banned Oracle

Only one guy says that and you paint everyone with the same brush. I’d love to get involved with Chinese culture but am shunned most times i go to Richmond. Once, we weren’t even served at an ethnic restaurant. Walked out after 15 minutes. Wasn’t angry because from past experience was expecting something like that to happen.

Best place on meth
Guest
Best place on meth

Chinese get a pass on their racism because….white guilt.

And boy do they know how to play us on that guilt.

dave27
Guest
dave27

Vote NDP, at least it will kill the housing market….. and site C is too far along to stop. kinder morgan will go ahead…..T2 realizes he needs more money coming in.

Hyper-mega-Bull
Member
Hyper-mega-Bull

In Trump era, some Mexican migrants head north – to Canada

http://www.reuters.com/article/us-usa-immigration-mexico-canada-insight-idUSKBN16N15A?il=0

southseacompany
Member
southseacompany

“Pattie Lovett-Reid: Mortgage insurance premiums are about to go higher”, BNN

http://www.bnn.ca/pattie-lovett-reid-mortgage-insurance-premiums-are-about-to-go-higher-1.698023

“The Canada Mortgage Housing Corporation is hiking the cost of mortgage insurance for homebuyers March 17 – just one more piece of regulatory requirements requiring homeowners to hold more capital to offset risks in the stubbornly hot real estate markets in pockets of the country.”

Just me
Guest
Just me

B.C. Liberals reluctant to protect renters from lucrative loophole

http://vancouversun.com/news/local-news/matt-robinson-b-c-liberals-reluctant-to-protect-renters-from-lucrative-loophole

You have to love this one from the comment section:

Coleman, Clark and many of their BC Liberal peers are the landlords of this province. They are not going to fix anything about it as long as it makes them money.
This is a caucus that is deep in the real estate business, and that has profited from it. If they had any ethics they would understand they are in a serious conflict of interest when it comes to housing, but they don’t.
Ethics and understanding of the plight of working BCers is not in their lexicon.

Burnaby
Guest
Burnaby

What about high heels in the workplace though? Let’s deal with this important issue.

space889
Member
space889

Yes, rental controls and stripping away landlord rights never ever leads to slum lords and run down barely functional rental stocks.

These renters are just fucking greedy. They want the best of everything and the same rent as an old rundown unrenovated building. Economics don’t work that way. No wonder these people are poor and NDP always ruin everything they touch. They think everything just falls from the sky.

Banned Oracle
Guest
Banned Oracle

Within 60 days we will know whether renters are forever priced out or there may be hope.

60 days.

fomostyle
Guest
fomostyle

Boomers will vote for her. It’s over. If you are not inheriting money (soon) or already a House owner, probably time to leave Vancouver. If I were under 35 I would be long gone.

Newcomer
Member
Newcomer

Why not just forget the house? It’s such a little thing. How’s your love life? What’s going on with your sporting life? Spirituality? Creativity? Adventure? The house you live in is at the bottom of the list.

I mean, I get it. The Vancouver housing scene is annoying and weird. But the outdoor sports scene is off the hook. Why not focus on that for a while?

Just me
Guest
Just me

You are at the denial stage of the Vancouver housing process. And you are also quite annoying.

fomostyle
Guest
fomostyle

Ummmm. This is a blog about housing prices, not self awareness.

Newcomer
Member
Newcomer

None of that stuff falls under “self awareness,” I’m jut pointing out that sales price is only one piece of Vancouver Condo Info, other pieces of info such as rental cost and location are worthy of your attention. But I think I get what you are trying to say in your reply: It’s my party and I’ll cry if I want to. — Knock yourself out.

Just me
Guest
Just me

No he is just telling you that you are a patronizing individual, and your comments are annoying.
Enjoy your lifestyle.

Shut It Down Already
Guest
Shut It Down Already

“Own a house or leave” is a great example of the parasitic herd mentality driving up prices.

Best place on meth
Guest
Best place on meth
Just me
Guest
Just me

Mike DeJong might be interested.
I heard he dabbles in RE investments.

Just me
Guest
Just me

At the next Provincial election, I am voting to stop this madness in my city.

http://www.cbc.ca/news/canada/british-columbia/studio-apartment-for-one-million-dollars-1.4027167

“Average price is $2,000 per square foot at Vancouver’s 43-storey tower Alberni by Kuma”

We have the prices of London, Bay area and NY city. We just don’t have their economies and jobs.

Our economy is importing Chinese millionaire migrants.

Fomo style
Guest
Fomo style

I heard 90 pct sold. 50 pct to overseas buyers. 50 pct to locals who want to flip.

Banned Oracle
Guest
Banned Oracle

The locals are recent PR with overseas $$$. Lets try to to be so PC

Shut It Down Already
Guest
Shut It Down Already

And you both have verifiable evidence, I take it?

Just me
Guest
Just me

The evidence is the price. $2000/sqft.
Right there.

Shut It Down Already
Guest
Shut It Down Already

That’s not evidence by any definition I’m familiar with.

Just me
Guest
Just me

Your definition of evidence has been, and remain, unclear.
Short of having a formal Chinese takeover of the city, you would keep denying China money has any effect.

Shut It Down Already
Guest
Shut It Down Already

No, I’d say foreign money accounts for ~10% of transactions as per the stats. To say anything else would be total fabrication.

Banned Oracle
Guest
Banned Oracle

Hahahahaha

Best place on meth
Guest
Best place on meth

“We just don’t have their economies and jobs.”

Or their fame, or their legend, or their history, or their public transit, or their architecture or their tourist attractions…

Fuck, I’m depressed now.

space889
Member
space889

Have an all night rump with hyper mega bull outta cheer you up!

Best place on meth
Guest
Best place on meth

Go hump your statue of mao, your worthless commie chinese piece of shit.

Banned Oracle
Guest
Banned Oracle

This is where you push back without being timid about being called a racist. That is how its always worked throughout history.

Just me
Guest
Just me

I would settle for a half decent basketball team, a place where you can buy decent bread without spending $10 a loaf, some variety when it comes to cultural entertainment and a few more flights to the East coast and Europe.

Just me
Guest
Just me

I certainly would not say yields are dropping, despite some recent commentary.

http://www.bankofcanada.ca/rates/interest-rates/canadian-bonds/

Bear Vancouverite
Member
Bear Vancouverite

It does look to drop slightly at the very rightmost edge.

Best place on meth
Guest
Best place on meth

Ha ha ha ha….I’ll be damned. You do have a sense of humour after all.

Just me
Guest
Just me

I am not talking about day-to-day adjustments. There was no large slide following the FOMC announcement today. It only looks big if you zoom in to a tiny scale.

paulb
Member

New
221
Price Change
37
Sold
135

TI:8273

http://www.clivestevepaul.com

B Oracle
Guest
B Oracle

Looks like Interests rate hikes in the USA are DONE! Bond yields crashed by almost 10% here in Canada soon after the announcement.

If you’re looking for rates to pop this bubble, not going to happen.

Read my posts and see what needs to be done. Otherwise continue to be perplexed.

Specuskeptic
Member

The ONLY thing I’m perplexed about is why a self-confessed liar continues to post and expects be taken seriously. … That and the arrogance.

There must be a connection between the two phenomena.

Banned Oracle
Guest
Banned Oracle

Ummm Ive told you more about whats going on in my posts than what youve been able to figure out here all these years.

In 60 days you will know whether your are priced out forever. If Christy gets in and then expect another 30% surge in prices.

And then spend another 8 years on this blog looking for that 50% correction. LMAO

Its dumbasses like this that hurt the renters cause.

Just me
Guest
Just me

Look at the big drop in dollars amounts from a year ago: this is the size of Chinese money inflows (give or take a few hundred millions).

“Year-to-date, the association says the amount of money from residential sales fell 38.5 per cent to $7.3 billion”

http://vancouversun.com/news/local-news/b-c-home-sales-typical-for-february-but-far-short-of-february-2016

By the way, the BC Libs should announce what tweaks they want to make to the Foreign Buyers Tax this week. Have you heard anything yet? What do you expect they will do?

I always expect the worst with Christy Clark: she will probably let 100k offshore students into the market, so they can start laundering money again.

B Oracle
Guest
B Oracle

There is about 100,000+ foreign students in Metro Vancouver. Christy wanted to double the number.

And they do get automatic work permits courtesy of Trudeau.

I’ve contacted the NDP on this issue and ….crickets.

Thats why we need a new party. But another 4 years of Cristy means Metro Vancouver will be past the point of no return. It will be great for homeowners but poverty for renters. There is and was a reason for the FOMO.

People like Patriotz bought a few years back. YVR live with his parents in ‘we don’t know how they paid for it’ home. Similar cases with Newcomer (who also happens to be a SJW as long as inheritance is intact) and Shut it down.

Best place on meth
Guest
Best place on meth

What’s SJW?

Single Jewish Woman?

OBC
Guest
OBC

Oracle works for a major Canadian bank and his job is to keep a tab on single jewish women. That and proclaiming to be a foreigner while hatin’ on foreigners.

Newcomer
Member
Newcomer

Yes, but I’m on Tinder and hoping for the right man to come along some day.

Best place on meth
Guest
Best place on meth

Well, I’m sure you’ll leave him emasculated and nagged to death by day 12.

Actually, your behaviour is starting to make perfect sense now….