Friday Free-for-all! March 24th 2017

Slacker edition!

This is our regular end of the week news round up and open topic discussion thread for the weekend. It’s Friday Free-for-all time! 

Normally we post links here, but we’re doing the bare minimum at the moment- may add those later. Meanwhile, what are you seeing out there? 

Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend! 

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Donald T
Guest
Donald T
Donald T
Guest
Donald T

To get a round the “small” transaction limit per each transaction, i personally saw an insurance company run an UnionPay card machine non-stop for 6hr to pay for a large insurance contract.

The staff who was running the UnionPay machine suggested to the boss to take a break because the machine was overheating!

The policing on money cleansing is almost comical.

Oracle
Guest
Oracle

Wonder if shut it, YVR and Newcomer families are using this.

Shut It Down Already
Guest
Shut It Down Already

Keep f

Shut It Down Already
Guest
Shut It Down Already

Keep fishing

Abdul Lahazi
Guest
Abdul Lahazi

You “personally” watched it run non-stop for 6 hours? It must have been a slow day for you…

Donald T
Guest
Donald T

Slow? heard of the concept called sale commission?

KickThemOut
Member
KickThemOut

Well, there is always the Amex Black Card – only 11 swipes needed for a $36M USD cup, and I believe the buyer is mainland Chinese.

https://www.bloomberg.com/news/articles/2014-07-18/chinese-gets-422-million-amex-points-with-36-million-cup

UBC in Crisis Mode
Guest

Many people sent money for “tax recovery law suit”:
https://www.gofundme.com/bc-government-advertising-lawsuit
Pay attention to “Update 4”.

Just me
Guest
Just me

This would make good reading for some. The article raises some very fair points, worth discussing at the very least.

“Douglas Todd: The narrow view from the migration sector bubble”.

http://vancouversun.com/opinion/columnists/douglas-todd-the-narrow-view-from-the-migration-sector-bubble

history
Guest
history

I’d get into it, but im too busy today fixingthe shit made in Asian factories.

KickThemOut
Member
KickThemOut

St Patty day, March madness, and wow is there a large amount of posts to catch up. You people are as obsessed, if not more, about RE than the bulls and Chinese…It is spring break for god sake. Take a break, have a KitKat.

best place on earth
Guest
best place on earth

they just need group hugs to forget about their misery.

Just me
Guest
Just me

I am just so sorry my tax dollars go out to pay free health care, schooling, clean air and policing for people like you.

Sebastien
Guest
Sebastien

Some people like talking about hockey, football, cars, etc… Us it’s real estate.

specuskeptic
Member

Soheil Karkhanechi makes a pretty good case on the CBC today. http://www.cbc.ca/news/opinion/nonconforming-mortgage-market-1.4038515

“The nonconforming mortgage market is where many real estate speculators go when seeking financing. They are loans given to borrowers who do not qualify under a lender’s standard metrics; loans where the lender takes more comfort in its collateral than the ability of the borrower to service the debt through income.”

This should ring familiar….

Newcomer
Member
Newcomer

Yup. This is the real key.

Oracle
Guest
Oracle

No..

Haven’t your ‘parents’ laundered enough money yet?

history
Guest
history

finding out about income is a pain in the ass for mortgage brokers on a deadline
https://canadianmortgagetrends.com/canadian_mortgage_trends/2017/03/noa-service-companies-under-fire.html
A few clever ones were getting the income verification thru CRA! however, the Feds are upping the beauracracy.
The point to all this is the SteveKeen ratio mentioned a few threads ago. The high positive correlation, Rate of Refinancing to Prices. Fed wants it harder for Heloc addicts and their mortgage broker to do deals, without resorting to higher interest rates.

Sebastien
Guest
Sebastien

Let’s talk more about Oracle’s niche rabbit hole theory on price drops:

First, nobody really answered the questions and discussion points mentioned yesterday. Why?

Second, let’s say that everything happens according to plan and the transaction is done in two countries. Then, the seller will have $100,000s stuck in another country that can’t be wired to Canada without causing any suspicion. What now?

Newcomer
Member
Newcomer

Now we think about it and realize that Oracle doesn’t give much thought to the things she says.

Oracle
Guest
Oracle

Haven’t your ‘parents’ laundered enough money yet?

Oracle
Guest
Oracle

Some sellers can move money in via Import over invoicing while others can’t. The ones that can accept money in China need the money there for factory expansion, development, etc.

Sebastien
Guest
Sebastien

That means that the seller would need to have a legit business here and in the other country. This reduces the pool of potential buyers even more.

paulb
Member

New
132
Price Change
36
Sold
149

TI:8130

Buying or selling real estate? I can help. http://www.clivestevepaul.com

Just me
Guest
Just me

The amount of listings is ridiculously low.
Sellers are sitting out this market, for now.

fomostyle
Guest
fomostyle

Once again. It’s a global thing. Investors low everywhere.

fomostyle
Guest
fomostyle

* inventory.

Best place on meth
Member
Best place on meth

Only 46 days until the election.

Just me
Guest
Just me

I also think they are waiting to see if Christy Ckark is elected. If she wins, they know things are going to look up for house prices. Might be worth their wait.

fomostyle
Guest
fomostyle

If she wins (she will, boomers want house prices to keep going), say bye to FBT.

Best place on meth
Member
Best place on meth

It’s interesting that the BC Conservatives, who don’t even have a leader and will probably run candidates in less than 1/2 the ridings are almost at the same level of support as the Greens.

That’s an advantage to the NDP.

Then again, 25% of voters are still undecided which might explain why potential home sellers are also undecided.

Newcomer
Member
Newcomer

I’m going to ask all my friends to hold their noses and vote NDP. I think that is going to be a common theme.

Best place on meth
Member
Best place on meth

I hope all three of them take your advice.

Newcomer
Member
Newcomer

You tell me, you’re the third.

Best place on meth
Member
Best place on meth

I hope both of your friends take your advice.

Oracle
Guest
Oracle

HAHHHAHAHAHAHA. Post of the year!

history
Guest
history

i mentioned years ago, that a Refi is basically the mortgage owner selling the house back to himself. We see this scream higher and higher over the years, pushing prices further up. Whats gonna crash prices is fewer Refis, not the Sales/Inventory numbers. Also, look at your Insolvency rates, forget Bankruptcy or Foreclosure numbers.

Vancouver Review
Guest
Vancouver Review

Mar 24, 2017 Daily Review Vancouver Real Estate Housing Bubble News https://youtu.be/dHURc8yS5Yc

Just me
Guest
Just me

This just off the press. And might be a biggie!

http://vancouversun.com/news/local-news/house-buyer-beware-landmark-b-c-court-ruling-will-shake-real-estate-industry

House buyer beware: Landmark B.C. court ruling will shake real-estate industry

Just me
Guest
Just me

From the article.

The immigration lawyers urged the B.C. government to end the “honour system” that leaves it largely up to sellers to state on real-estate-industry forms whether or not they are residents of Canada for tax purposes.

They said the honour-system loophole could be fixed through Ottawa and Victoria agreeing to the sharing of information among the CRA, the federal Immigration Department and the arm of the B.C. government responsible for property sales.

The B.C. Liberals, Kurland said, have stubbornly refused to solve the costly by reforming the government’s property-transfer forms to require sellers to answer whether they are “a tax resident of Canada.”

Best place on meth
Member
Best place on meth

As I’ve said previously, our country is going to have to come up with all kinds of new laws that we had never imagined we would need, thanks to the horrific, explotative mindset of the rapacious locusts that have infected and diseased our beautiful lands over the last decade.

Just when the white folks were truly starting to make amends for despoiling the native lands and raping and pillaging their culture, along comes the latest pestilence to sicken this region.

Oracle
Guest
Oracle

CRA has got to start doing its job. Start by focussing on all the $2 million plus properties sold over the last 10 years and move down.

Simple.

Just me
Guest
Just me

They wil never do it. The cash cow is too important to keep milking.
The inly way to change things is to kick out the politicians who set the rules.

Shut It Down Already
Guest
Shut It Down Already

Ever ask yourself if you sound like a Nazi?

Just me
Guest
Just me

And this…..

Some property owners, for instance, are claiming to real estate officials that they are Canadian residents, so they can avoid capital gains taxes while selling houses.

But some of the same people, at the same time, are claiming to the CRA that they are not residents under our tax law, so they don’t have to declare their global income and property holdings, and pay income taxes on them in Canada.

Combat roach
Guest
Combat roach

Those damned Norwegians, they are notorious…

Newcomer
Member
Newcomer

Vancouver is somewhere in the neighborhood of Pitsburg and Brussels. Sounds about right.

http://vancouversun.com/news/local-news/vancouver-is-the-39th-most-expensive-city-in-the-world-according-to-the-economist

Best place on meth
Member
Best place on meth

Misleading….the cost of real estate and rent is stupid ridiculous in Vancouver but everything else is pretty cheap, because it has to be.

Residents don’t have money left after paying for shelter, so businesses are suffering.

Just me
Guest
Just me

I was going to write the same thing. I have actually spent quite a bit of time in both Brussels and Pittsburgh over the past 15 years. Ti claim that Vancouver cost of living is similar to those cities is ridiculous. It would only be true if you don’t consider shelter, but that of course makes no sense.

Best place on meth
Member
Best place on meth

I’m no expert on Brussels and Pittsburgh, but I would be willing to wager a fair chink of change that there are very few commie chinese money laundering scumbags in their neighborhoods.

I am envious.

Newcomer
Member
Newcomer

You might like Pittsburgh and I’m sure we could get a collection going for your bus fare.

Best place on meth
Member
Best place on meth

Why do you want me to leave my country?

Newcomer
Member
Newcomer

Ask not what your country….

Just kidding, Meth. What would we do without you?

Oracle
Guest
Oracle

Any comments on the tax evading by Chinese nationals mentioned above? Or we trying to change the subject like Christy?

Just me
Guest
Just me

Actually Pittsburgh proper is a lovely place. It reminds me of Central European cities like Budapest, witha river flanked by hills and crossed by rivers. It is extremely lively as well and people do live downtown.

Brussels is more plain geographically but also interesting given the educated and succesful residents.

Both have much cheaper real estate. Vancouver has way more Asian demand which drives prices to levels inconsistent with local incomes.

Shut It Down Already
Guest
Shut It Down Already

Local demand is astronomical. People think it’s an easy pathway to riches. For some that was the case….

Just me
Guest
Just me

Local demand includes Asian millionaire migrants. We need to accept that is a big problem. If we don’t di anything about it, prices will never adjust down.

Shut It Down Already
Guest
Shut It Down Already

CMHC stats disagree with you. Non-millionaires are mortgaged up to the eyeballs. Keep on ignoring the truth and posting your FAKE NEWS.

Just me
Guest
Just me

Perhaps stop screaming and a have a walk in Point Grey. It might open up your eyes to our reality.
Locals are certainly mortgaged to their eyeballs. But they are not the reason why crack shacks in the East side go for 2 million dollars.

Locals are trying to cope with an inflow of money from Asia that is effectively displacing them. I am actually sorry for the priced out locals. Politicians sold them out.

Shut It Down Already
Guest
Shut It Down Already

You’re right – anecdotes are better than statistics….

Ulsterman
Member

We keep hearing that it’s all locals speculating. If this is the case i wonder how they are borrowing enough money to buy these $2m dumps? Even if you have $500k-$1m loose change floating around, how many locals have access to another $1-1.5m in borrowing? If you go through a non-standard lender, wouldn’t the interest rates (apparently at least two percentage points higher) make the massive debt burdensome?

Newcomer
Member
Newcomer

The family who bought a friend’s 2 M house, sold their shack in East Van for 1.5. Generally speaking, people move incrementally. That is why it is called the “property ladder.”

Shut It Down Already
Guest
Shut It Down Already

Jesus, you’ve been here for how long and still have no idea what a move-up buyer is?

Ulsterman
Member
I’m not expert either, so i found this very pleasant looking little home on zillow for US$225k, located about 7km from the downtown core. I can’t even imagine how the survey claims that Vancouver and Pittsburgh have similar costs of living – what a joke, as you say. A few years ago i met a young woman on the chairlift at Whistler and she was from Pittsburgh. Knowing nothing about the place other than it appears to be a flyover city, I asked her about living there. She said it was wonderful; full of beautiful parks, river walks, good restaurants, and cheap houses. She’d bought her own 4 bed house (she was late 20’s) and had rented three rooms out completely covering the mortgage, She explained living for free allowed her to take regular ski vacations to the places most… Read more »
Ulsterman
Member
Best place on meth
Member
Best place on meth

Hmmm. ..they have access to the same low interest rates in Pittsburgh that we have here, and yet….

Newcomer
Member
Newcomer

… they are not so goddamn stupid.

Newcomer
Member
Newcomer

To make sense of it, you have to read the article. It is not comparing house purchase prices. The reason I posted the article was to highlight the disconnect between house purchase prices and the prices of everything else.

Newcomer
Member
Newcomer

Rent is more expensive here, but not by all that much. But it certainly is not the case that other things are cheaper to compensate. I’ve been here 10 years. Rent is up about 50 or 60% but other things are pretty well in line with inflation, there has been no decrease in the prices of other things. Food and entertainment are cheap here and always have been. That’s because the average household salary is quite low. Real estate is just off in its own world.

Yunak
Member
Yunak

Do you see why is that? Do other comparable cities have that level of Asian population. Chinese, either Mainland or Hong Kong in particular who are somewhat obsessed with RE from few reasons? Do please enlighten me.

Newcomer
Member
Newcomer

From the grammar, I’m going to say, Oracle.

Oracle
Guest
Oracle

No Dumbass.

Shut It Down Already
Guest
Shut It Down Already

See? Oracle never uses commas and has no idea what correct capitalization looks like.

Shut It Down Already
Guest
Shut It Down Already

How about defining what you mean by a comparable city, demographics, and how you’d gauge RE obsession? Otherwise you’re just going to move the goalposts. But that was probably your intention.

Shut It Down Already
Guest
Shut It Down Already

Chinese made them buy!

patriotz
Member

If you look at the actual source, you will find:

1) All costs are in US$. They are not relative to local salaries.
2) Costs are for an international executive lifestyle, including private schools, etc.
3) Rents are included but not house prices.

Sure rents in Vancouver are high relative to local salaries, but in US$ terms they are not much higher than rents in ordinary US markets (never mind the expensive ones). Also rents do not form a large % of the cost of the executive lifestyle they are documenting.

The local media always report these surveys incorrectly.

http://www.economist.com/blogs/graphicdetail/2017/03/daily-chart-13?fsrc=scn/fb/te/bl/ed/measuringthecostoflivingworldwide

Newcomer
Member
Newcomer

While I agree that the media is always wrong, in fairness, the Sun article says, “The biannual report prepared by the Economist Intelligence Unit compares more than 400 individual prices across 160 products and services, including food, drink, clothing, home rents, transport, utility bills, private schools, domestic help and recreational costs.”

southseacompany
Member
southseacompany

“Tidal wave: Interest rate rises could drown Australia”, news.com.au

http://www.news.com.au/finance/economy/australian-economy/tidal-wave-interest-rate-rises-could-drown-australia/news-story/ebffe75908634d214fde79e8484a9c3d

“Many houses are owned by investors. And saying they are “owned” is something of an exaggeration. More than 50 per cent of investor loans are interest only. That means the owner never actually pays off the house. ”

“That kind of investment only makes sense when the price of the house is rising. If you get rising interest rates and falling property prices at the same time, housing investors with interest only loans will start to sell their houses so fast you can barely blink. That, of course, would accelerate any property price fall.”

Newcomer
Member
Newcomer

That’s interesting. Interest only mortgages for investors. So it’s the time-worn story of stupid lending practices there too. I have been enlightened.

Ulsterman
Member

The interest only mortgage was so common in the UK a few years ago that people were surprised if you didn’t have one. I’ve asked a couple of acquaintances here who are mortgage brokers about them and they’d no idea what i was talking about. I can only imagine the affect on prices here if they were to become widely available with 5-10% down payments as they were in the UK.

Newcomer
Member
Newcomer

Good grief. I’m so nieve. I thought that kind of stupidity was limited to pre-crash America.

It would be interesting to see a table comparing mortgage parameters (downpayment, amortization, interest rates, etc.) and house price movement around the world and/or over time. Does anyone know where I can find one?

southseacompany
Member
southseacompany

“Canada’s housing market looks eerily similar to the US before the crash”, Quartz

https://qz.com/938570/canadas-mortgage-debt-has-reached-the-levels-in-the-us-before-the-financial-crisis/

Best place on meth
Member
Best place on meth

“Canada’s central bank recently warned that increasing household indebtedness is the country’s major financial vulnerability. Thanks to easy credit and foreign demand, property prices in Canada have been skyrocketing”

Easy credit AND foreign demand?

It can be BOTH?

Like….simultaneously?

Joe Money
Guest
Joe Money

Cheap credit, and the resulting expectation of gains, is behind everything. Investors, whether foreign or not, and local FOMO.

Shut It Down Already
Guest
Shut It Down Already

Yes it can be both. We know this because the goddamn stats tell us that it’s roughly 90% easy credit and 10% foreigners, remember?

Oracle
Guest
Oracle

Could those huge price drops be related to this? Hmmm…

http://vancouversun.com/news/local-news/house-buyer-beware-landmark-b-c-court-ruling-will-shake-real-estate-industry

Make the profit overseas as cash exchanges overseas. MLS sale price here what it was when it was bought so no capital gains taxes. Hmmmm….

Canada is being taken advantage of tax wise. Need major audits. This is getting ridiculous.

Shut It Down Already
Guest
Shut It Down Already

Have you even thought about all the people who’d be involved in such a transaction and such a deal would play out for them? Of course you havent. That’s why you keep pushing his nonsense hypothesis.

Oracle
Guest
Oracle

Why you so against posts that out tax evaders? You do have allegiance to Canada or are you just here to rape it economically?

Shut It Down Already
Guest
Shut It Down Already

I’m against all forms of tax evasion. I declare the $10,000/post I get for hanging out here.

I’m also against lying idiots, for that matter.

Just me
Guest
Just me

I see. How do you cope with hating yourself then?

Shut It Down Already
Guest
Shut It Down Already

I know you are but what am I?

Sebastien
Guest
Sebastien

I really don’t see this article to be a genuine answer to my questions . Yes the motive is there but that’s it.

Polozi Scheme
Guest
Polozi Scheme
Just me
Guest
Just me

The more I learn about this, the more I see hiw the very people who should protect us are actually selling us out.
Many words are soent about families and the “middle class” (whatever that means). But the idea if getting millionaires to buy real estate here (no questions asked) seems to be too appealing for our politicians and top bureaucrats.

patriotz
Member

The real problem is that it’s appealing to boomers who want to sell out and retire, and younger owners who think they can follow in the boomers footsteps.

Politicians do what it takes to get elected and bureaucrats do what the politicians tell them.

Just me
Guest
Just me

I am counting the days to the election. Whether Christy Ckark wins or loses, she will niot get my vote.

It will give me an enormous satisfaction to put a big fat cross on the NDP candidate’s name in my riding.

Asian millionaires (actually, their wives and kids, since the men apparently don’t want to hold our passport) and boomers will vote for the status quo.

Oracle
Guest
Oracle

Wrong. Follow the brown paper envelopes to tax havens.

Best place on meth
Member
Best place on meth

You can see that people in the CRA wanted to uncover the fraud by chinese but their higher ups in Ottawa told them to ignore it.

It’s obvious why, they didn’t want to be accused of racism.

You can see the same vile tactics in use here on this blog by a handful of dirtbags who don’t want us even discussing the fraudulent behaviour by chinese.

You’ve also seen the same tactics in the media, from the real estate industry, local politicians (fuck you Kerry Jang) these race baiting tactics are from a standard playbook.

Don’t want people talking about widespread chinese fraud, just call them a racist.

It’s easy. It’s also lazy, stupid, sleazy and wrong, but it’s easy.

Yunak
Member
Yunak

Stupid from a perspective of the host but smart from a perspective of the parasite. Imagine going to the country that you don’t give a shit about and doing all kinds of illegal and fraudulent crap for the sake of personal gain while not facing any consequences because you play dumb, don’t speak the language and came from the country whose citizens have status of the holy cows and no one can touch them but prize them for all the shit they do.

Oracle
Guest
Oracle

Its great that people are starting to speak their mind and not worry about being falsely accused.

Easier for me since I’m a visible minority and i make my views be known in public. I don’t give a fuck but if i were caucasian then i can see the worry.

Even some of my Asian friends are disgusted by the actions of some of the mainlanders and our bureaucrats/politicians.

Best place on meth
Member
Best place on meth

Visible minority is another one of those asinine terms conjured up by PC liberals.

People taller than 6’4″ are a visible minority for fucks sakes.

So are junkies, clowns, crazy people and hippies.

In Richmond, white people are visible minorities – I hope the idiots in Ottawa have taken this into account for statistical and equal opportunity purposes.

Sadly, I will never have the same opportunities in Richmond as the chinese do because….racism.

Yunak
Member
Yunak

Totally agreed. We live in the monster society where strategically created racial hypocrisy prevailed over law and rationale. However timing of this unprecedented but idiotic anomaly worked perfectly for group of people of the certain foreign nationality but at the same time devastated generations of local population.

Newcomer
Member
Newcomer

Isn’t it tiresome, switching IPs?

Shut It Down Already
Guest
Shut It Down Already

“..don’t speak the language..”

Oh, the irony.

Shut It Down Already
Guest
Shut It Down Already

It’s always hilarious to see you bleating about being denied a sensible discussion when most of your posts are littered with immature racial slurs.

Stop talking like a fucking racist and you’ll stop being accused of being one. But you already know this, as it’s been explained to you dozens of times.

Polozi Scheme
Guest
Polozi Scheme
Just me
Guest
Just me

Keep the steak, return the samll potatoes.

http://vancouversun.com/news/local-news/b-c-liberals-to-refund-93000-in-illegal-indirect-political-donations

The B.C. Liberal party is returning nearly $93,000 in political donations after identifying 43 indirect contributions that are illegal under the B.C. Elections Act.

How are they going to pay their “party salaries” going forward?

Just me
Guest
Just me

Chinese buyers not deterred by Australia real estate tax

http://www.opp.today/chinese-buyers-not-deterred-by-australia-real-estate-tax/

Best place on meth
Member
Best place on meth

No wonder, it’s small potatoes.

“In 2015 the Federal government announced a circa1% fee for foreign buyers while the Victorian government introduced an additional 3% tax. These were the first Australian taxes on foreign buyers. Since then Victoria has raised its tax to 7% while NSW (4%) and Queensland (3%) have also introduced new taxes.”

southseacompany
Member
southseacompany

“Blame B.C. government subsidies for Vancouver’s out-of-control real estate market”, Vancouver Sun

http://vancouversun.com/opinion/op-ed/opinion-blame-the-b-c-government-for-vancouvers-out-of-control-real-estate-market

“The never-ending anger toward real estate in Vancouver can be very intense sometimes. For first-time buyers, getting priced out of the market brings with it a range of emotions and a never-ending gamut of blame. Blame the foreigners! Blame the speculators! Blame real-estate agents! Blame the City of Vancouver! Blame Christy Clark! Blame the rich! Blame the poor! One thing that seems to be ignored in the discussion is that B.C. real estate owners are the most taxpayer subsidized in all of Canada.”

Just me
Guest
Just me

Good points. What MacGee wrote is all true. But he misses a critical point: without the deleterious influence of mainland Chinese money of the past few years there is no amount of government subsidization that could generate prices as high as we have today.
Policy is a major influence. But the level of prices is so high because much of the money slushing around is not from local incomes.

Nonetheless I think it is good that someone blows the whistle on the indecent (truly indecent!) behavior of our current Provincial government.

Best place on meth
Member
Best place on meth

Welfare for land barons.

How cute.

Sebastien
Guest
Sebastien

Worst drop of the day, right in fentanylland:

10515 138 Street, Surrey
Nov 7:$1,490,000
Mar 25: $1,188,800
Change: – 301200.00 -20%

Screwed
Guest
Screwed

…couldn’t…

Just me
Guest
Just me

Building homes in overseas markets such as Hong Kong, Malaysia, Australia or New York City and marketing them to investment-minded buyers back home has become a cottage industry for China’s larger property developers, who also promote the strategy as a way to help export China’s industrial overcapacity.

http://www.straitstimes.com/asia/se-asia/capital-curbs-hit-forest-citys-chinese-buyers

Combat roach
Guest
Combat roach

Even better, is this shit for real???

China Wants Total Access To Canada, May Seek To Import Its Own Workers

http://m.huffpost.com/ca/entry/15584542

Newcomer
Member
Newcomer

Ick!

Best place on meth
Member
Best place on meth

This is why free trade is a farce and why people around the world are rejecting it.

It’s about selling us out – Turdeau had better tread carefully here or he could go down as Canada’s first traitor PM.

Newcomer
Member
Newcomer

Don’t throw the baby out with the bathwater. Free trade is what China wants. The government should have been forced to abandon its commie ways in exchange for access to markets years ago but now that they have bet the farm on capitalism, there is no better time to let them know that they can either get with rule of law and democracy to go back to being a collective of peasants.

Newcomer
Member
Newcomer

== “or go back…”

patriotz
Member

Australian government faces political revolt over extradition treaty with China
The article notes that Oz already has a free trade agreement with China.

Oracle
Guest
Oracle

People will revolt. Will lead to civil war if word gets out.

Oracle
Guest
Oracle

Thats whats going to happen in the USA if they keep defaming Trump the way they are.

history
Guest
history

the poll is not real ‘fake’, like virtually everything published byHP. Canadas middle class has been gutted the Chinese see it, and want to raise the ante and play. Canadian fools for another round of Appeasement. (1st round is obviously Investor Immigrant).

Krusty and Junior are little Neville Chamberlain’s

Vancouver Review
Guest
Vancouver Review

Mar 25, 2017 Daily Review Vancouver Real Estate Housing Bubble News
https://youtu.be/Or4x7MYZWnE

goofus ottawais
Guest
goofus ottawais

We have to ask ourselves if we really need the made in asia manufactured goods. Stuff made in asia for export is really another loophole, since the quality is very poor (manufactured obsolescence) They arent making it for their home market, so why give a shit? Make it for Canada! The money made from exports to Canada, is then used to infiltrate the country through enterprise loophole RE. Chinas patron saint country is Israel. Dont lambast me for saying this, they’ve said it themselves.

oncebittwiceshy
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oncebittwiceshy

…………. and perhaps this takes care of a lot of the problems. That sound you just heard was several thousand real estate agent’s jaws hitting the ground. Lol.

If the Chinese were making a comeback of any kind this should dissuade them. Lol

http://www.msn.com/en-ca/money/homeandproperty/house-buyer-beware-landmark-bc-court-ruling-will-shake-real-estate-industry/ar-BByIvfu

Best place on meth
Member
Best place on meth

Another example of locusts engaging in widespread fraud, as if we haven’t seen enough examples from them:

“Some property owners, for instance, are claiming to real estate officials that they are Canadian residents, so they can avoid capital gains taxes while selling houses and qualify for permanent resident status.

But some of the same people, at the same time, are claiming to the CRA that they are not residents under our tax law, so they don’t have to declare their global income and property holdings, and pay income taxes on them in Canada.”

Bull Trap
Guest
Bull Trap
I do not oppose any measure in which involved parties end up with more skin in the game and more to lose. Keeps everybody honest and keeps everybody vigilant. Helps create an atmosphere and environment in which tax criminals understand that they are not wanted or welcome. Because no realtor, lawyer, notary will work with them and no citizen will buy from them. WHY DON’T WE HAVE THAT NOW, you ask rhetorically. After all, we all suffer directly from tax crime. Tax revenue stolen by tax criminals means that schools, hospitals, womens’ shelters, affordable housing, safe injection sites, roads, ferries, ambulances, police, and environmental watchdogs fighting for a smaller pool of provincial and federal funding. If someone steals a bicycle from one Canadian and you buy it from them, you are a criminal because you have willingly participated in the… Read more »
Newcomer
Member
Newcomer

I would suggest that you can find answers to questions like these in a book with a title like Canadian Law for Dummies or An Introduction to Common Law, or even an online high school civics class.

Of course, I’m breaking your balls here, but it is also actually true that being acquainted with the basics of law will make all sorts of policy issues easier to understand.

Bull Trap
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Bull Trap

Tax evasion is not criminal?

Are you a realtor?

Newcomer
Member
Newcomer

Go read a bit first, then we can talk.

Bull Trap
Guest
Bull Trap
http://barretttaxlaw.com/tax-fraud-tax-scams-tax-evasion-faq/#faq-item-193 What is tax evasion? Simply put, tax evasion is the act by any person, business or entity to illegally evade paying taxes. Tactics used in tax evasion include the misrepresentation of income and profit by reporting less than actually earned and taking additional deductions that are not allowed by law. An example of tax evasion would be an individual who earns income in cash and does not report it to the Canada Revenue Agency in order to pay less tax. Businesses also can be found guilty of tax evasion if they purposefully report fewer sales than actually made to avoid taxes on any additional sales transactions. What are the penalties for tax evasion? According to Section 238 of the Income Tax Act, if an annual tax return is not completed and filed, then an individual is guilty of a… Read more »
Newcomer
Member
Newcomer

I’m sure you have a point in your own mind, but I can’t guess what it is. You asked why receiving stolen goods is a criminal office but providing legal or financial counsel is not. (It sometimes is, btw.) Now you are quoting random laws.

I think the takeaway is that you are outraged. Noted.

Bull Trap
Guest
Bull Trap

Offences and Punishment
Marginal note:Offences and punishment

238 (1) Every person who has failed to file or make a return as and when required by or under this Act or a regulation or who has failed to comply with subsection 116(3), 127(3.1) or (3.2), 147.1(7) or 153(1), any of sections 230 to 232, 244.7 and 267 or a regulation made under subsection 147.1(18) or with an order made under subsection (2) is guilty of an offence and, in addition to any penalty otherwise provided, is liable on summary conviction to

(a) a fine of not less than $1,000 and not more than $25,000; or

(b) both the fine described in paragraph 238(1)(a) and imprisonment for a term not exceeding 12 months.

Bull Trap
Guest
Bull Trap

So there’s that.

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