Canada has 2x more vacant homes than the US before the crash

southseacompany posted this link claiming we’ve now reached double the number of vacant homes the US had before their housing bubble burst:

Home vacancies are often a sign of overbuilding, and speculation. At the height of the US housing crisis in 2008, a massive 2.9% of all homes were sitting vacant. This made it hard for home prices to retain their value during the downturn, since the vacant units began flooding the market on the way down. But that was the US, and this is Canada – we don’t have that number of units sitting vacant, right? Actually, Canada has more than twice that number.

Read the full article here.

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Owen
Member
Owen

The author looks at stats that are not comparable and draws BS conclusions. Like she actually thinks we have 3x the empty homes because the US has been keeping stats for longer (see last paragraph)? Maybe we do have a lot more empty homes but her analysis is whack and the Canadian stats don’t prove anything. There has already been much better discussion on this forum than what’s presented in the article.

Combat roach
Guest
Combat roach

Those wild Norwegians…

VANCOUVER — West Vancouver Police say they stopped a 22-year-old driver who was clocked travelling at 210 kilometres per hour in a 60 kilometre per hour zone on the Lions Gate Bridge.

http://www.ctvnews.ca/autos/ferrari-impounded-in-west-vancouver-as-driver-clocked-at-210-kilometres-per-hour-1.3488480

Abdul Lahazi
Guest
Abdul Lahazi

He can’t obey the laws in Canada so should be deported.

Abdul Lahazi
Guest
Abdul Lahazi

and…
“This same officer dealt with the same driver for an excessive speed allegation in April. In that circumstance it was a speed of 130 kilometres per hour.”

Just me
Guest
Just me

No. We need investors. Our economy would be ruined without these types of individuals.
The Ferrari dealership would go bankrupt: imagine the losses of jobs and economic growth!

Best place on meth
Member
Best place on meth

Named and shamed, car seized, fined an additional $500K, then deported and banned from ever entering Canada again.

Notice they won’t release the scumbags name?

Combat roach
Guest
Combat roach

To save money and time they should have just drop him from the bridge, problem solved, less shit.

squeak
Member
squeak
Seeing all the crazy stupid stuff cyclists/ pedestrians and drivers (in that order) do way too often, I have been upping my insurance to cover myself. This headline is really disturbing. Can you imagine the horrendous injuries that can be caused by this kind of criminal driving. As far as I am concerned, this is not a “driving offence”, this is using a vehicle in a weapon like manner in a highly unsafe/dangerous manner with a good chance of killing or fubar innocent humans and we are not even in a war zone. The vehicle is a much more dangerous than a gun or knife. The lack of action from those (politicians) whose duty is to protect us is a fail. Frankly, I don’t feel safe in Canada anymore. The lack of swift strong actions to deal with this kind… Read more »
Bear Vancouverite
Member
Bear Vancouverite

At the very minimum there needs to be criminal prosecution, hefty fines, and probably revocation of driver’s license. Drivers like this need to be taught a lesson fast.

YVR
Guest
YVR

Don’t worry the NDP will bring back in photo radar like when they were in power last. You get a $100 fine for speeding sent in the mail. That should deter these Ferrari drivers from speeding.

Abdul Lahazi
Guest
Abdul Lahazi

Home prices to remain flat across Canada in 2018, says RBC – is this the new normal?

http://globalnews.ca/news/3573792/home-prices-to-remain-flat-across-canada-in-2018-says-rbc-is-this-the-new-normal/

LOL. Yes nothing will ever change ever again…

Oracle
Guest
Oracle

See the new NDP staff. Developers.

bullwhip29
Guest
bullwhip29

big difference between “vacant” safety deposit boxes here and all the foreclosures that piled up very quickly in key regions of the US.

bullwhip29
Guest
bullwhip29

>>> a blast from the past and a look into the future…
ie. more conflict of interest and shady real estate dealings among politicians

http://www.vancouversun.com/business/Vancouver+councillors+accused+conflict+interest+over+rezoning/9947593/story.html

YVR
Guest
YVR

Geoff Meggs joins the NDP as Whoregans chief of staff. LOL, I hope you like the way Vancouver has been run for the past 10 years because Meggs will be spreading his wisdom province wide. Hard to beat the damage he did to Vancouver but he sure will try.

patriotz
Member

” I hope you like the way Vancouver has been run for the past 10 years”

Vision took over council in January 2009. Anyway, we know how the NPA was running things before that (can you say Olympic Village fiasco, which got Vision elected in the first place) and how they would have run it since (i.e. no empty house tax). To each his own.

YVR
Guest
YVR

A few weeks ago you claimed Meggs and Vision had no affiliation with the NDP? I guess Whoregan just randomly picked Meggs name out of hat and hadn’t been speaking with him over the past few years.

Speaking of OV weren’t those the condos sold in a secret back room deal to Aqualini fro below market value in a bulk sale by Meggs and the gang?

patriotz
Member

“A few weeks ago you claimed Meggs and Vision had no affiliation with the NDP?”

I said that although both Vision and COPE have present and former members of the NDP, neither civic party is affiliated with the latter.

Do you think you can back your arguments up with facts some time? It’s really not that hard.

YVR
Guest
YVR

Vision took over council in January 2009.

I stand corrected. it only took Vision 8.5 years to completely fuck up Vancouver.

patriotz
Member

And everything is just ducky in places like West Van and Richmond, where the right wingers are running things?

patriotz
Member

Is this your kind of mayor?

City of North Vancouver Mayor Darrell Mussatto has suggested the province consider allowing municipalities to charge different tax rates for different types of residential property. That would allow local governments to charge a lower tax rate for single-family homes, for instance, than for condos and townhouses, and provide tax relief for some owners who have seen their assessments for detached homes jump more than 20 per cent in the past year.

YVR
Guest
YVR

“How ‘the system’ failed B.C. voters
B.C. is now being ruled by a ramshackle regime beholden to a fringe party. This is not good democracy at work.”

http://www.macleans.ca/politics/how-the-system-failed-b-c-voters/

Bear Vancouverite
Member
Bear Vancouverite
This seems to be a very ignorant piece. Minority coalitions or similar arrangements are a result of how voters voted. The most amazing thing about this piece is that it implies that the Lt. Governor decided Horgan would be Premier, implying that a non-elected individual was able to install a Premier of her choice like he was plucked out of her favourite nephew’s back yard. LOL. Check out the phrasing here: “The premier Guichon chose was John Horgan” Let’s be blunt. Maybe not every voter who voted for the Green or NDP party wanted this outcome, but this is how things work and it will work fine. The NDP will have a razor thin margin of error, and this will force them to work with the Greens. The NDP is not at the mercy of the Greens, as this author… Read more »
Bestplaceonearth
Guest
Bestplaceonearth

Weaver is the opportunist who took the wrong opportunity. The green voters will remember this. Btw, hulkgan won’t last long. Another election is just around the corner. The NDP will destroy this province for sure.

Combat roach
Guest
Combat roach

Is this some traditional tai-chi-kung-fu wisdom talking again? You should definitely undergo a lobotomy.

Bear Vancouverite
Member
Bear Vancouverite

If the next election is around the corner the only way the NDP can “destroy this province” is to win that next election, is that what you’re predicting?

Best place on meth
Member
Best place on meth

Incredibly written article, the style is identical to YVR on his worst days.

paulb
Member
Active Member

New
510
Price Change
62
Sold
155

TI:9274

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

Oracle
Guest
Oracle

We’ve been hoodwinked all along. News breaking that a Pro developer member of Mayor Gregor Robertson team is now the Chief of the NDP party.

Unbelievable.

No wonder people are buying like crazy. I expect no changes in housing policy now.

This news is breking but it generally means that high house prices or the Ponzi Scheme will continue for years longer.

Oracle
Guest
Oracle

His name is Jeff Meggs. He was part of the taxi Cartel and was against any form of the empty homes tax.

He is now Chief of Staff. 2nd most powerful man in BC now.

He will cause election. Then Liberals get back in. All planned. Too much $$$$$$& at stake

patriotz
Member

This clown does not merit a response, but for the sake of accuracy:

Vancouver city council has voted 8-3 in favour of a new one percent tax on homes left vacant for at least six months of the year. Mayor Gregor Robertson, six Vision Vancouver councillors, and Green councillor Adriane Carr supported the measure

Three NPA councillors vote against Vancouver tax on empty homes

Oracle
Guest
Oracle

Aren’t clowns people who live in Ottawa and focus on Vancouver Real estate.

Then work in immigration and try to downplay immigration numbers.

You’re as worse as they come.

YVR
Guest
YVR

We’ve been hoodwinked all along.

At least you are smart enough to realize it. Most around here still think they are getting ‘change’.

Also just announced the legislature won’t meet until September. With Summer coming the NDP need a break. They have only had the past 16 years off. At least we know nothing will happen for 3 months and then all they will do is increase the carbon tax. All that whining Whoregan asking for CC to resign was for nothing.

Oracle
Guest
Oracle

I had my doubts about the NDP but hoped for some honesty in their platforms. Someone said that immediate siblings of some of the MLAs are developers.

specuskeptic
Member

I’ve heard…people are saying…rumour has it, etc. etc.

All innuendo. Got a source to cite?

Are you drunk ATM? Lots of spamming of the site – esp considering the ban that seems to have worn off.

Can’t seem to take a hint I guess.

Best place on meth
Member
Best place on meth

He’s like CNN, with their unsubstantiated stories based on 1 anonymous source.

At least he doesn’t claim to be the “most trusted poster on VCI”.

Shut It Down Already
Guest
Shut It Down Already

CNN has more credibility than the cyberbully who is married to the anti-cyber bullying campaigner.

specuskeptic
Member

At least CNN has multiple sources – you know, corroboration. Boracle just pulls it straight from the arse.

David
Guest
David

Another sign the top is in, my good friend is being evicted after being a longterm tenant, renting from Rennie & associates. Reason for eviction: they are selling the unit, along with other units in the complex.
Looks like a selling spree… when the Condo King himself starts liquidating condos, I’d be a little worried to line up for a presale…

YVR
Guest
YVR

I remember the first time I saw Geoff Meggs on the news.

Four undercover police officers were preparing to raid the home of then-B.C. Premier Glen Clark. A search warrant alleged breach of trust… The premier and his communications director, Geoff Meggs, entering his home from the back. Clark pacing around his kitchen. Officers searching the home

http://globalnews.ca/news/2551548/the-police-and-the-premier-remembering-the-rcmp-raid-on-glen-clarks-home/

Abdul Lahazi
Guest
Abdul Lahazi

The cops should investigate Christy Clark. There is a goldmine there.

Just me
Guest
Just me

The amount of crap YVR is spouting is beyond comment.
I just want to say: the BC Libs were in power between 2001 and 2017. Over that period, house prices trebled, Chinese millionaire migrants took over the city, mandarin-only dealerships selling Ferrari and Lotus appeared, and taxes on housing are pretty much the same (proportionally) as they were back then.
Ah, I forgot: many current homeowners can defer those taxes indefinitely.
Thanks BC Libs, we are clearly thriving as a province.

Oracle
Guest
Oracle

If you are of open mind, you will believe this.

Over those 16 years, developer interests have infiltrated the NDP. Why? Just in case they got into power.

Research the MLA families and you will see that there is no way they will let this Ponzi fall. I had wishful thinking but was wrong.

If you think rents are bad now, just wait. Prices already out of reach of families in metro.

Oracle
Guest
Oracle

Out of all the Vancouver city councillors, Geoff Meggs is my last choice for the NDP.

This day is like the total opposite of Election Day.

Shut It Down Already
Guest
Shut It Down Already

Where is the Mandarin-only Ferrari dealership?

Just me
Guest
Just me

Burrard. They might try and speak some English if you look rich enough. But don’t bet on it.

Combat roach
Guest
Combat roach

Don’t bother, usual race-baiter thinks it’s funny to play retarded.

Shut It Down Already
Guest
Shut It Down Already

See (4).

Shut It Down Already
Guest
Shut It Down Already

You think the Burrard Ferrari dealership is Mandarin-only? So you’re either delusional or a fucking liar once again? Which one is it this time, I wonder?

Just me
Guest
Just me

I strongly advise anger management therapy.
It might help you a ton.

Shut It Down Already
Guest
Shut It Down Already

Fucking liar, then?

YVR
Guest
YVR

No Chinese listed on the website, or in ownership or management. Do you think this group only speaks Mandarin?

Brian Ross
Owner
Mark Edmonds
General Manager
Alexandra Rezler
VP of Operations & Finance

http://www.ferrarimaseratiofvancouver.com/aboutus/our-team/

YVR
Guest
YVR

If you go through their Meet Our Team Pages only 2 out of 24 people with photos are of Chinese decent. That may be one of the least Mandarin businesses in Vancouver.

Just me
Guest
Just me

I suggest you try for yourself. Walk in on a weekend and try and have a chat.

Shut It Down Already
Guest
Shut It Down Already

You can’t stop lying, can you?

Just me
Guest
Just me

It is so much fun to see you fuming in your self-righteous way.

Shut It Down Already
Guest
Shut It Down Already

Oh, I’m not fuming – I’m laughing at you, you pathetic racist twat.

Abdul Lahazi
Guest
Abdul Lahazi

Chinese citizens about to be barred from US and any other NATO countries due to Chinese government support of North Korea. You heard it here first.

Shut It Down Already
Guest
Shut It Down Already

Hey, Oracle!

Oracle
Guest
Oracle

Nope. I’m not Abdul.

history
Guest
history

If trade doesnt cross borders, Armies will. Not good.

Just me
Guest
Just me

More proof that we should account for origin of funds, not buyers passports.

https://www.bloomberg.com/news/articles/2017-07-04/foreigners-account-for-4-7-of-home-sales-in-toronto-region

If you have been to Toronto in the past 6 months, you know who is buying. Apparently they still have to learn there is a difference between buyers and origin of funds.

Of course, the government and RE lobby know the difference full well. But they pretend not to.

Oracle
Guest
Oracle

Its quite obvious that local Permanent Residents already here continue to launder money.

The gov knows it. But they are confusing everyone with ’empty homes’, ‘supply’, blah blah blah.

Tax 2nd homes and drastically reduce both temp and foreign immigration.

YVR
Guest
YVR

I am sure the NDP will get right on that after their 3 month summer vacation.

Just me
Guest
Just me

It would have helped if Christy Clark had not dragged her feet for two months.

bullwhip29
Guest
bullwhip29

or arranged to have anyone that could have made a difference in recent years re-assigned to greener pastures.

Combat roach
Guest
Combat roach

It is cunning way to run a global landfill. Collecting, transforming (laundering) and storing mainly Chinese garbage is the most lucrative Canadian business in the past 25 years.

history
Guest
history

0.25 or 0.50 interest rate increase? Maybe no increase.

Does it matter? Im too far down the road in life where i give a shiet about a landlord, mortgage or place of my Own.. busy busy busy … taking out other peoples garbage.

And vacant homes galore. Its my bread and butter.

here’s a weird thought. Within two months in 1969, we went to the Moon, attended Wodstock, and tuned into the first episode of The Brady Bunch.

Just me
Guest
Just me

I won’t say whose quote this is. But it is quite appropriate for this blog (lately).

Beautiful speech doesn’t need protection, it’s ugly speech that needs protection. We have these cultural norms that allow people to say really ugly things. You don’t have to invite them to your dinner party, but you should let them say it.

Best place on meth
Member
Best place on meth
Combat roach
Guest
Combat roach

It shouldn’t have happened at all. Letting those uncompromising lowlifes to have it their way will have tragic consequences down the road.

Btw how is that subtitled fuck even in Canada without being able to speak basic English. All those fake citizenships should have review in accordance with current emigration rules.

Oracle
Guest
Oracle

Trudeau condones it. Media helps him out.

Just me
Guest
Just me

Trudeau would not touch this with a stick. He does not want to do the right. Thing, just the “trendy” one.

bullwhip29
Guest
bullwhip29

Vancouver property owners ‘panic’ to rent as vacancy tax implemented
http://www.cbc.ca/news/canada/british-columbia/property-owners-panic-as-vacancy-tax-takes-effect-1.4190576

>>> really??? if only owners would take a minute to read the actual details…

properties “used as a principal residence by the owner, his/her family member, or a friend for at least six months of the current year” are exempt. so, someone like space who is currently living in mom’s basement can move into friend’s vacant unit (or at least claim this as principal residence) and not even have to pay rent and owner is off the hook for EHT. this will turn out to be a big, fat nothingburger…

Oracle
Guest
Oracle

It’s a red herring for the sheep.

bullwhip29
Guest
bullwhip29

B.C. brothers make history with $2.5M scratch-and-win prize
http://vancouverisland.ctvnews.ca/golden-ticket-b-c-brothers-make-history-with-2-5m-scratch-and-win-prize-1.3489164

“We’re gonna buy our parents a new house and invest it,” said Ken. “Maybe start our own little developing company.”

Combat roach
Guest
Combat roach

Good for them. The good guys seems they are.

bullwhip29
Guest
bullwhip29

but definitely a sign the end is near when a couple of regular dudes win the lottery and immediately decide getting into the RE development game is the “smart”thing to do

Oracle
Guest
Oracle

Look no further than how many 10 yr visitor visas have been issued in China.

That’s why fOMO

southseacompany
Member
southseacompany

“Don’t panic: message from Vancouver mortgage broker on impending interest rate hike”, Global

http://globalnews.ca/news/3573094/dont-panic-message-from-vancouver-mortgage-broker-on-impending-interest-rate-hike/

““I think there will be some very difficult situations out there,” said Licensed Insolvency Trustee with Sands and Associates Blair Mantin.”

““You can imagine if rates go up a quarter point or a half point that’s a massive increase in a folk’s monthly mortgage payment.””

bullwhip29
Guest
bullwhip29

Vancouver’s Chinatown is a place where developers don’t always get their way
http://www.scmp.com/lifestyle/article/2101219/vancouvers-chinatown-place-where-developers-dont-always-get-their-way

bullwhip29
Guest
bullwhip29

This summer, Ian Brown joined a group of Chinese travellers from Toronto to PEI and back. Here’s what he saw…
https://www.theglobeandmail.com/news/national/canada-150/eastbound-with-ian-brown/article35498738/

Abdul Lahazi
Guest
Abdul Lahazi

More on the speeding Ferrari:
http://globalnews.ca/video/3575571/speeding-ferrari-sparks-outrage/?utm_source=Article&utm_medium=MostPopularVideo&utm_campaign=2017

The 22 year old driver has been stopped FOUR TIMES for excessive speeding in his pretty white car.

bullwhip29
Guest
bullwhip29

just wanted to point out that no 8’s on license plate, no pendant hanging from rearview mirror and no damage to vehicle. my guess is that driver is a caucasian trust fund douche bag this time around which also explains why his identity will not be made public

Oracle
Guest
Oracle

Chinese.

With a foreign licence that BC or ICBc can’t suspend.

That’s why repeat offender. At worst, they can impound his car.

bullwhip29
Guest
bullwhip29

China sees free trade with Canada as way to avoid future controversies, uncertainties
http://business.financialpost.com/news/economy/china-sees-free-trade-with-canada-as-way-to-avoid-future-norsat-like-uncertainty/wcm/a122b480-76df-4afb-9002-b4a1b06e9941

“The signing of the (free-trade agreement) is to provide a stable and anticipated institutional arrangement for mutual investment, so that investors won’t worry (that) their investments may encounter some difficulties or problems.”

Oracle
Guest
Oracle

Basically would nullify any FBT or annual tax.

People have to wake up. We are being sold out.

Hyper-mega-Bull
Member
Hyper-mega-Bull

chinese only banners at richmond canada day parade

http://imgur.com/a/45561

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