Owe Canada! Canadians love debt

Owe Canada posted this in the weekends thread and it’s got some very interesting numbers:

Canadian annual gdp at the present time is $2.06 trillion.

In the 1 year period from the end of December, 2015 to the end of December, 2016 (calendar year 2016) the Canadian economy grew by 1.4% – ie: the size of the economy grew by $28.9 billion.

In this same 1 year time frame the total debt outstanding in Canada grew by $309 billion. For each $1.00 the economy grew in this 1 year period the total debt outstanding increased by $10.69.

Looking at just the total debt outstanding of domestic non-financial sectors in Canada. In the 1 year period from the end of December, 2015 to the end of December, 2016 the total debt outstanding of domestic non-financial sectors increased by $215 billion. For each $1.00 the economy grew in this 1 year period the total debt outstanding of domestic non-financial sectors increased by $7.43.

At the end of December, 2016 the total debt outstanding in Canada was 3.5 times greater than our annual gdp, and looking at just the total debt outstanding of domestic non-financial sectors, that was 2.5 times greater than our annual gdp.

Here’s more from Owe Canada.

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southseacompany
Member
southseacompany

“Hot housing markets could drag down Canada’s economy if unchecked, RBC chief warns”, Financial Post

http://business.financialpost.com/news/fp-street/hot-housing-markets-will-drag-down-canadian-economy-if-unchecked-rbc-chief-warns

“Dave McKay, RBC’s president and chief executive, welcomed any effort by the municipal, provincial and federal governments “to co-ordinate their interventions, and to do so reasonably quickly,””

southseacompany
Member
southseacompany

“‘‘Dramatic’ Toronto Housing Market Needs Closer Eye, Moreau Says”, Bloomberg

https://www.bloomberg.com/news/articles/2017-04-06/-dramatic-toronto-housing-market-needs-closer-eye-morneau-says

“Canadian Finance Minister Bill Morneau wants policy makers to take a “closer look” at ways to slow the torrid growth of Toronto’s housing market, saying the region has problematic conditions that threaten both stability and affordability.”

Whistler or Bust?
Guest
Whistler or Bust?

Interesting how when its happening in the centre of the universe he’s not wasting a year doing a “deep dive”

Anything they do in T/O cannot be good for Vancouver.

Newcomer
Member
Newcomer

The two will definitely feed off each other. Right now, we can be sure that there are people signing mortgages on 2 M houses in Toronto who are telling themselves it’s a bargain because the same house would cost 3 M in Toronto., and there are people in Abbotsford paying million for a townhouse (or whatever the going rate is) because houses “everywhere” are worth at least a million.

bullwhip29
Guest
bullwhip29

benchmarks were set in Vanc. then the FBT implemented. hot money simply sidestepped taxable jurisdictions. the RE crash everyone in Vanc was expecting didnt happen because HAM simply doesnt sell. i might even sign a mortgage if I could get a $3M house for $2M…. 😉

Newcomer
Member
Newcomer

Spidey senses trumping data again. How dull it would be if we didn’t have a bit of make-believe like this to balance the facts.

bullwhip29
Guest
bullwhip29

with the Cdn real estate game being the marquee event that it is and Vancouver being the so called premium lower bowl seating which is now restricted (at least superficially), foreign buyers looking for entry have had no choice but to purchase alternative seating. of course, what they do once they are in the building is a debate for another day. would introducing a toronto FBT cast a shadow on Cdn RE in general or force buyers into the nosebleed sections like Que, Alta and good ol’ tax-free zones in BC (again once they are in, they can do what they like)? or more perversely, would Vanc be back on the radar in a big way if the playing fields are somewhat levelled or worse yet, krusty finally comes clean and officially kills the tax? food for thought…

Joe Columbian
Guest
Joe Columbian

Same was with Flaherty. Only TO real estate mania got his attention. Van is so far away from the Laurentian centre of the universe.

Just me
Guest
Just me

Starting Thursday, those who’ve lived in Britain for 15 of the past 20 tax years will be deemed as domiciled in the U.K. for tax purposes, effectively putting an end to long-term “non-dom” status. All U.K. residential property will be subject to inheritance tax, whether held directly or in an offshore company.

https://www.bloomberg.com/news/articles/2017-04-06/u-k-financiers-battle-government-over-taxes-as-brexit-looms

His account describes the nomadic lifestyle supposedly enjoyed by the world’s top earners. The details provide a glimpse of how far tax authorities must go to prove the residency of executives running global businesses, and suggest why few cases reach the top court.

“I relied on the company tax advisers and ultimately did what I was told,” Mackay said while giving evidence on March 17. He declined to comment for this article.

Vancouver Review
Guest
Vancouver Review

Apr 5, 2017 Daily Review Vancouver Real Estate Housing Bubble News

https://youtu.be/-dlCO1Hv6_c

paulb
Member

New
261
Price Change
38
Sold
315

TI:8143

https://www.instagram.com/clivestevepaul/

Best place on meth
Guest
Best place on meth

Once y’all get over your shock, please don’t forget to give Paul a thumbs up.

Oracle
Guest
Oracle

Multiple offers all over the place. Cash cash cash from China!!. Go figure.

Just me
Guest
Just me

Sorry. Still in shock over here. We live in a new brave world. This has been going, with little or no interruption, for 10 years now.

ostritch
Member
ostritch

I recall it starting g in the last quarter of 2001.

Oracle
Guest
Oracle

PR people funning in foreign money $$

Libs win, I’m out of here.

Shut It Down Already
Guest
Shut It Down Already

Promise you’ll leave?

ostritch
Member
ostritch

To where? Toronto? Montreal? Brrrrr. India? Same thing happening everywhere.

Best place on meth
Guest
Best place on meth

Me too, sick of living in Van-china – I’m escaping to the Sunshine Coast.

Shit…just got word the fucking locusts have bought that up as well.

Lillooet it is then.

bullwhip29
Guest
bullwhip29

HAM went through the sunshine coast in 2015-16 and vacuumed everything reasonably decent up in a heartbeat incl golf courses, vineyards and various businesses. it was really quite strange since the market was completely dead for years even as other regions lit up bigtime. all krusty has to do is sign on the dotted line and all those properties are worth millions too. my guess is that today is not the day for that, however…

Newcomer
Member
Newcomer

I figured you for more of a Merritt kind of guy.

Just me
Guest
Just me

Suppose you knew for sure that Chinese money was responsible for what is going on in Vancouver, what would you do? I am curious,

Oracle
Guest
Oracle

Really?

Still having a debate whether or not It’s Chinese money??

What would I do? Try to convince the sheeple about the truth.

Just me
Guest
Just me

My point is that, even if these guys had final proof that Chinese money is responsible for what is happening, they would do nothing.
They would do nothing because they are compketely hung up on race, and they cannot recognize this is about money, not about race.
They, like many policy makers and tax collectors, are paralyzed by the fear of being perceived as racists. Even if race has absolutely nothig to do with this.

Bear Vancouverite
Member
Bear Vancouverite

Newcomer is one of the most outspoken about source of funding and he’s already (probably) voting NDP.

YVR is one of the most staunch supporters of the Liberals and he won’t do anything differently even if foreign money is 50% of the market.

SIDA has never indicated who he’d vote for.

Voting is our most powerful tool to effect change. I hope we get to see David Ebby work on the housing file in earnest after the election.

YVR
Guest
YVR

“YVR is one of the most staunch supporters of the Liberals”

You are confusing dislike of the NDP policies with supporter of another party.

Bear Vancouverite
Member
Bear Vancouverite
There seems to be a bit of fearmongering happening again with claims about the flood starting up again. The fact is the REGBV stats have always shown for months that condos and townhouses are still hot. Steve Saretsky has documented this on a monthly basis. SFH on the other hand continues to cool. In Vancouver East, and West the SFH price trend is downwards for both asking and actual sold prices. So far as I can tell realtycheck.ca is still showing predominently asking price reductions. The counter argument has always been that those prices were never realistic to begin with, which is fine. We’re seeing the trend continue where asking prices are being dropped closer to, just above, or just below 2016 assessed values. That will then become the new watermark. Of course the holy grail is a trend where… Read more »
ostritch
Member
ostritch

You need to substitute REALITYlink for REALTYlink.org. Houses are down but no where near the down they were 18 months ago.

Best place on meth
Guest
Best place on meth

“In Vancouver East, and West the SFH price trend is downwards for both asking and actual sold prices.”

In yesterdays March stats release, detached was +1.9% in E. Van, +1.1% on the west side, and +1.0% in metro from a month ago.

Bear Vancouverite
Member
Bear Vancouverite

The month to month isn’t as rosy as I’d liek to see, but the stats package which was for February actually shows

Vancouver East -1% MOM
Vancouver West +0.1% MOM

http://www.rebgv.org/sites/default/files/REBGV%20Stats%20Package%20February%202017.pdf

If you’re looking at the March 2017 stats package can you link us to it? I can’t find that data.

Bear Vancouverite
Member
Bear Vancouverite
Sebastien
Member
Sebastien

Daily Burnaby decline:

8465 16th Avenue, Burnaby
Oct 14:$1,298,000
Apr 3: $968,000
Change: – 330,000 -25%

Oracle
Guest
Oracle

Still don’t get it do you???

There were bidding wars all over metro today. 315 sold!

Shut It Down Already
Guest
Shut It Down Already

You don’t have MLS access and have no idea how many bidding wars have taken place.

Repeating Paul’s stats with added exclamation marks isn’t exactly insigtful.

Shut It Down Already
Guest
Shut It Down Already

Assessed at $1.1m

bullwhip29
Guest
bullwhip29
Diadora
Guest
Diadora

Douglas Todd: How to ensure non-residents pay tax on Canadian real-estate profits
It should be easy to ensure that offshore property speculators pay capital gains taxes on their Canadian sales, but the B.C. government has given no sign it’s prepared to make the fix.
http://vancouversun.com/business/real-estate/douglas-todd-how-to-ensure-non-residents-pay-tax-on-canadian-real-estate-profits
Krusty is an agent of the RE cartel so this will never be fix when she is in power.

bullwhip29
Guest
bullwhip29

the banks, lawyers are already supposed to ensure that sufficient portion of funds is withheld for tax purposes. obviously, things at the boiler room banks are way more loosy goosy than most realize

southseacompany
Member
southseacompany

News, or real estate promo?

“Average sale prices for condos outside Vancouver showing double-digit gains”

http://www.theprovince.com/business/local+business/average+sale+prices+condos+outside+vancouver+showing/13272836/story.html

“Claire Desmarais bought a pre-sale unit directly from the developer at The Sapperton in New West, choosing it for its location near SkyTrain, view of the river and because it felt near “up-and-coming opportunities, especially for local businesses.””

““It’s definitely a development that was targeted to my demographic,” said Desmarais, 29, who works in Vancouver as a manager of music partnerships and was wary of a long commute. “They had branding that could have been by a Main Street brewery. It was all cool and that robin’s-egg blue colour with trendy typography. It could have been on any signage off of Mount Pleasant.””

Newcomer
Member
Newcomer

Both. This is the nature of news about almost all things, not just real estate. A very large chunk of all news is just rewritten press releases. Other news is written entirely by industry lobbyists or industry writers. (I write news for my industry. I’m part of a committee. We take turns writing and editing each other’s work, then our PR company sends it out to editors of newspapers and magazines.) Even when the story is initiated by the publication (which I believe is increasingly rare) they will meet with people who are trying to tell their story or their industry’s story. We only notice these things when we are close enough to a story to be able to evaluate it but this is the nature of news.

Joe Reality
Guest
Joe Reality

Welcome to Vancouver.

It’s like living in the Truman show.

The weather is brought to us by Remax.

And you can’t turn the channel.

Newcomer
Member
Newcomer

This is the way news works around the world (or least in free countries). It’s not particular to Vancouver.

Oracle
Guest
Oracle

Trudeau and McCallum are the direct enemies of working class Canadians. Their immigration policies and lack of enforcement on money laundering have priced out Toronto.

$300,000 increase in a home in a year!! Thats almost $1000/day.

This gov needs to be kicked out AND JAILED asap.

Shut It Down Already
Guest
Shut It Down Already

What crime would you jail them for, Starsky?

fomostyle
Guest
fomostyle
fomostyle
Guest
fomostyle

Toronto prices up 33 pct yoy

Bullwhip29
Guest
Bullwhip29

Construction on Massey Tunnel begins today
http://www.cknw.com/2017/04/04/construction-on-controversial-george-massey-tunnel-replacement-to-officially-begin/

>>> is it just me or is our incredibly smug gangster-in-chief getting a little ahead of herself here? And for what it’s worth construction actually started weeks ago. When does ground break on all those multi billion dollar LNG projects?

bullwhip29
Guest
bullwhip29

and how odd is it that there is virtually no coverage of this by the MSM? you’d also think that krusty would do another photo op or at least make a statement given the price tag of this project, but no, not a peep. i wonder if the plan is to red line construction for the next several weeks giving opposition parties (should they in fact win the election) no choice but to continue on or pony up multi millions of dollars to undo the mess?

Oracle
Guest
Oracle

Check the accounts of relatives in tax havens…

CSIS? RCMP?

bullwhip29
Guest
bullwhip29

i think the mandate is (was) to proceed full steam ahead whether we like or not, whether legal or not. by the time the SHTF it could be too late and too costly to reverse course. work crews have been out there in the dark of night (once again) doing god knows what for many weeks now. i love the crafty way they let that little tidbit leak out today…

Bullwhip29
Guest
Bullwhip29
Sebastien
Member
Sebastien

Today was quite bad for Richmond:

10551 Dennis Crescent, Richmond
Jan 17:$1,637,000
Apr 4: $1,299,000
Change: – 338,000 -21%

8260 Ash Street, Richmond
Oct 20:$1,868,000
Apr 4: $1,538,000
Change: – 330,000 -18%

5251 Brock Street, Richmond
Nov 7:$1,298,000
Apr 4: $1,060,000
Change: – 238,000 -18%

6351 Dover Road, Richmond
Oct 19:$3,288,000
Apr 4: $2,499,000
Change: – 789,000 -24%

Oracle
Guest
Oracle

Nice BS.

Prices are rising right now. Multiple offers on sub $2 million

Sebastien
Member
Sebastien

Data to back this up?

Shut It Down Already
Guest
Shut It Down Already

Multiple offers should imply sales over asking price. Anybody got any examples? Let’s assume Oracle is making it all up as usual and save a bunch of time.

ostritch
Member
ostritch

Sign up with Paul. There are a lot of overasking on the list I get. And it’s been that way for a while.

bullwhip29
Guest
bullwhip29

as of feb “average” sale prices (as per REBGV) were well off the FBT lows and approaching 2016 highs for some categories of RE. for march i expect more of the same. the reduction in some of these idiotic asking prices is no different than the engineered discounts (off of inflated MRSPs) that many retailers are now trying to pass off as real savings.
http://www.rebgv.org/monthly-reports/february-2017

Bear Vancouverite
Member
Bear Vancouverite
The link you posted clearly states the following: “The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $906,700. This represents a 2.8 per cent decrease over the past six months and a 1.2 per cent increase compared to January 2017.” 2.8% decrease over past six months, 1.2% increase compared to Jan 2017, across all Metro Vancouver. The fact is that the past 6 months shows marked decreases in listing AND selling prices of SFH. I further looked more closely at the package data for SFH: vancouver west: 5.4% decrease in past 6 months vancouver east: 7.1% decrease in past 6 months. richmond: 8% decrease in past 6 months north vancouver: 7.9% decrease in past 6 months coquitlam: 8.8% decrease etc etc. The same data shows Condo prices are more prone to rising… Read more »
Newcomer
Member
Newcomer

Say “FTB lows” many times will not magically change the numbers so that the FBT caused the downturn. The weird thing is that you know what happened. You fully understand it. And yet you hammer away at this alternative narrative. It’s almost like you are trying to fool yourself.

bullwhip29
Guest
bullwhip29

you should talk. i think it’s hilarious how you keep attempting to pass off your so called informed, educated and thoughtful analysis that suggests otherwise to all the others here when it is as plain as day what really happened. either i am bs liar or the data from the likes of REBGV is fabricated. if it is the latter then my argument that the powers that be running this whole joint are corrupt to the bone also proves to be right. either way it is no sweat off my back…

Newcomer
Member
Newcomer

But you know that the data from the REBGV shows sales volume and prices falling before the tax. You (or one of the other sinophobic meme-slaves here — I find it hard to tell you apart) argued that all of China had advance notice of BC tax plans. So the REBGV proves you wrong, not right.

But I admire your forthrightness in pointing out, before the fact, that all events will prove you right.

bullwhip29
Guest
bullwhip29

“the data from the REBGV shows sales volume and prices falling before the tax…”

>>> and the exact opposite is occurring right now.

just as we witnessed with today’s belated ground breaking announcement re. massey bridge, things are rarely as they seem with decisions made and deals done well before the public is officially made aware. hey, you can believe what you want. my spidey senses are telling me the FBT is going bye-bye after the election and that some have already been positioning themselves accordingly in advance of this. whether lucky or not, i correctly predicted the FBT would be very short lived and that certain changes would be announced as the election campaign got underway.

Newcomer
Member
Newcomer

Got it. From now on I will remember that your comments are based mostly on your spidey senses.

Shut It Down Already
Guest
Shut It Down Already

You do know the difference between breaking ground and a breaking ground ceremony, don’t you?

I once worked near a construction site for an “affordable housing” project. They started to work on the site weeks in advance of Robertson showing up for his “shovel” photo op. There’s nothing at all unusual about this. Should they delay a project because some politician is busy or on vacation? Of course not.

Just me
Guest
Just me

Disappearing overleveraged locals, no doubt.
Richmond is well known to be the favorite location of long time Metro residents and local buyers.

Shut It Down Already
Guest
Shut It Down Already

Some numbers:

https://www.biv.com/article/2017/1/richmond-most-popular-foreign-buyers-new-tax/

So even at peak madness locals were in the majority by quite a margin.

Just me
Guest
Just me

You also have stats with the share of foreign money? Foreign buyers stas are not informative if one cannot account for foreign money being used by people with permanent resudent status or citizenship.
Ckaiming otherwise is intellectually dishonest.

Shut It Down Already
Guest
Shut It Down Already

It’s not possible to identify the source of a dollar in way which you’d find satisfactory, and you know this. So try and make the most of the data you have rather than throwing out the baby with the bath water.

Combat roach
Guest
Combat roach

There is no foreign money in Richmond among people with permanent resident status or citizenship. All of them are prominent doctors, lawyers, artists, tech entrepreneurs and hedge fund managers hence can reasonably afford Richmond RE prices.

Oracle
Guest
Oracle

He is also a deceiver. No point in debating with him because….

Shut It Down Already
Guest
Shut It Down Already

…. says the liar.

You’re not even from India, are you?

Newcomer
Member
Newcomer

Thanks for posting these. Who knows if they are representative of the overall trend, but they are heartwarming nonetheless. They bring a little cheer at the end of a rainy day.

Oracle
Guest
Oracle

You’re such a deceiver. But then again, must be easy for you because…

Did you answer my question from the other day?

Shut It Down Already
Guest
Shut It Down Already

All were originally asking over assessed values. Now a couple have dropped below.

Newcomer
Member
Newcomer

Yes. It shows a curbing of enthusiasm. My Reality Check is likewise a sea of red. As we know, the single most important factor in current prices is the belief that prices always go up. Change that belief and you change everything.

bullwhip29
Guest
bullwhip29

these sale prices appear to be spot on. 1.25-1.5M for a builders lot in reasonable Rmd neighborhood, 2.5M+ for a finished McMansion, 1.5-1.75M for a better than teardown home in decent shape and over 1M for a POS cookie cutter cardboard house in queensborough/hamilton. original asking prices which easily could have been 25-50% over assessment are totally meaningless. when march stats pkg comes out you will see average prices have snapped back sharply off post FBT lows and are closing in on 2016 highs again (while volumes are pathetic).

LS in Arbutus
Guest
LS in Arbutus

Check out the facebook page:

https://www.facebook.com/ForeignInvestmentVancouverRealEstate/

A new forum for people to air their frustration with Van R/E.

southseacompany
Member
southseacompany

“Steve Saretsky & Hilliard MacBeth Canadian Real Estate Bubble”, from March 10/17

https://www.youtube.com/watch?v=7pkr86X8VBo

“Steve Saretsky interviews Hilliard Macbeth, financial advisor and author of the book When the Bubble bursts. Hilliard has a background in economics and has been working in the financial industry for almost 40 years. He gives his thoughts and perspectives on Vancouver real estate, Toronto’s housing bubble, and what to make of the Alberta real estate market. “

history
Guest
history

1. It was economist Steve Keen who pointed out the RE smoking gun. The 0.82 positive correlation bretween Rate of Refinancing mortgages and Prices.

2. It was Harry Dent who pointed out that Leisure travel peaks at age 54.

(1 and 2 are linked. ‘Cause you cant have 2 unless 1 happens, over and over and over again.)

3. It was me that pointed out that the Chinese buyer controls the Margin, through its control of Vcr Homes greater than 3M

ostritch
Member
ostritch

Who is buying many of the presales along our N/S corridors? It ain’t just local yokels.

history
Guest
history

The Leisure classes? sure as hell it aint workers.

Sebastien
Member
Sebastien

18-23000 Dyke Road, Richmond
Jan 24:$220,000
Apr 4: $119,000
Change: – 101,000 -46%

Oracle
Guest
Oracle

Overseas $ transaction.

Oracle
Guest
Oracle

No way to prove money changed hands overseas as MLS price is available to everyone.

Betcha that property is sold asap, just like the other ones with huge price drops.

But you already know that sebastien. No help for the gullible.

Bear Vancouverite
Member
Bear Vancouverite

LOL. You post almost like a bot without checking context. Did you not notice Newcomer found out this is a boathouse with no land and no lease?

Will overseas investors now buy up boats that have no land rights?

history
Guest
history

The Quantity of East Indians in the market is not the same as the Quality. Oracles posts over the years is proof.

One good General will outfox 10,000 from the sub continent. This is not opinion, but historical fact

Shut It Down Already
Guest
Shut It Down Already

Assessed at 145000

Newcomer
Member
Newcomer

This appears to be a 30 year old float home with no lease in place.

Vancouver Review
Guest
Vancouver Review

April 4th, 2017 Daily Review Vancouver Real Estate Housing Bubble News

https://youtu.be/6fWLmjUrqRY

Polozi Scheme
Guest
Polozi Scheme
Newcomer
Member
Newcomer

Remember this one? We used to have articles like this, back in the day when a few people with good incomes in Vancouver could club together and afford a shack.

http://www.cbc.ca/news/canada/toronto/can-t-afford-a-home-buy-with-a-friend-or-maybe-even-a-stranger-1.4032457

Just me
Guest
Just me

Good old days.
Long gone.
Now, to buy a plot of land next the cemetery in Killarney you need to bring together 4 or 5 households (using median Vancouver family earnings).

Well, according to you, this is all about locals over-leveraging.
Right…..

Shut It Down Already
Guest
Shut It Down Already

That’s not how statistics work. You’re basically picking an outlier and implying that it’s representative. How dishonest.

Just me
Guest
Just me

…..? Have you had too much to drink?
Go to Zolo and check every other listing to confirm.

Shut It Down Already
Guest
Shut It Down Already

That’s your argument? I see.

Just me
Guest
Just me

I simply tell you something true. You do what you want with it. I don’t quite care much about you, you ckearly have some vested interest or, worse, a chip on your shoulders.

Shut It Down Already
Guest
Shut It Down Already

What’s true? That your entire position hinges on an expectation that every property must be purchased by a first timer with minimal downpayment?

How many times must it be pointed out to you that locals on median incomes can afford expensive homes if they have existing equity? Should I write it in crayon on your copy of the Financial Times for you?

Just me
Guest
Just me

Right. You have written that nonsense many times. Every month that goes by, fewer people even listen to your blah blah.
Thankfully it is clear that public opinion is shifting, with a realization of what money flows from China have done to this city.

Shut It Down Already
Guest
Shut It Down Already

It’s a good job we don’t defer the truth to public opinion then. But if you feel more comfortable knowing that others agree with you, so be it.

As for stating my claim is nonsense are you suggesting that the entire market is comprised of first timers? If not, then what precisely are you saying that invalidates what I said? Feel free to back it up with statistics.

paulb
Member

New
253
Price Change
47
Sold
191

TI:8244

Follow us on Instagram: https://instagram.com/clivestevepaul

ostritch
Member
ostritch
ostritch
Member
ostritch

And the article feature the aforementioned Jill Oudil

bullwhip29
Guest
bullwhip29

98 BC Liberal Falsehoods, Boondoggles and Scandals: The Clark Era
https://thetyee.ca/Opinion/2017/04/04/BC-Liberal-Falsehoods-Scandals-Clark/

At the end of 2012, there was “no other way to say it: The B.C. government is fudging its job creation record,” wrote National Post senior reporter David Akin. “While Clark campaigns to be number one on job creation, B.C. is actually the worst in the West and fourth worst in Canada” and the “B.C. government is making false claims about the performance of the BC Jobs Plan.”

>>> I suspect the very same thing is happening right now…announcing all kinds of projects, spending etc that they won’t (or can’t) follow though on not to mention outright lying about how great things are going. once a crook, always a crook…

BubbleTea
Guest
BubbleTea

Canada’s doors are ‘wide open’ for criminals to launder money in real estate: report
Give us your criminal, your corrupt, your anonymous masses.
It’s a message that Canada is sending to the world with its “doors wide open” approach to money laundering in real estate, says a new report by Transparency International (TI), a Berlin-based organization that works to stop corruption around the world.
http://globalnews.ca/news/3350193/canada-launder-money-real-estate-report/
Justin and Krusty, you should be proud!

Just me
Guest
Just me

It is good for the economy.
And keeping these criminals out of the housing market would hurt the “hard won equity” of current homeowners. The BC Libs cannot stand for that.

Diadora
Guest
Diadora

“Anbang, whose murky links to the Chinese power structure have raised national security concerns over its U.S. investments.”— Bloomberg
Canada welcomes Anbang with open arms to buy up Canadian real estates.

Just me
Guest
Just me

“Pecunia non olet”.
The Romans figured this out 2000 years ago.

Combat roach
Guest
Combat roach

Norwegians are notorious when it comes to money laundering and stashing, especially when getting VIP or diplomatic treatment while looping from YVR, over an exotic car dealership, over realtor’s parlour to the bank.

Combat roach
Guest
Combat roach

In Vancouver, VIP or diplomatic treatment is a form of legal immunity that ensures Norwegians are given safe passage and are considered not susceptible to lawsuit or prosecution under the host country’s laws, although they can still be expelled.

bullwhip29
Guest
bullwhip29

and once YVR is sold off to the likes of Anbang none of this will matter. as it stands so called VIPs are landing their own jets on private runways, walking off the plane with suitcases full of cash and bypassing the system anyway

Shut It Down Already
Guest
Shut It Down Already

Proof?

Oh wait – it’s you.

bullwhip29
Guest
bullwhip29

you are aware that there are two sets of rules for regular and VIP passengers landing at yvr, right? as for outright sales, you never know what these nutbars will do at the end of the day and what the consequences of those actions will be
https://www.thestar.com/news/canada/2017/03/06/liberals-drive-to-privatize-canadian-airports-lifts-off.html