BC, Budget, Canada, data, debt, economy, hype, mortgage, predictions, rates

OMG OSFI!

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167 Comments

YVR pointed out this article by Rob Mclister about the OSFI B-20 bombshell:

The new OSFI’s stress test rules will make 20% of the mortgage market not qualify or they will have to reduce their mortgage by 18% to qualify. That is before recent and future mortgage rate increases are factored in.

Roughly 80% of new big bank lending in the richly valued Toronto and Vancouver markets is low-ratio mortgage lending

OSFI’s stress test, as proposed, would slash buying power for prime buyers by roughly 18%

For non-prime borrowers, qualifying rates would immediately rocket into the 6% to 7% range

Read the full article here.

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Oracle

Selena Robinson has a 2nd home?

There goes the hope of a 2% second home tax…

Sigh…

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Spec

Something something, lie with dogs, something something fleas…

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Best place on meth

Eby will now be able to investigate Krusty and the entire Liberal cesspool.

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Combat roach

That Chinese shitfuck looks like Krusty’s brother from another mother. Why all those scumbags are somehow look alike?

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LS in Arbutus

First a database to track who owns RE. Now lifting the veil on who owns companies. No more beneficial ownership.

Think the gov’t is getting the message. And there are TAXES in it for them. Lots of taxes.

https://www.thestar.com/news/canada/2017/07/18/corporate-secrecy-to-be-lifted-to-help-stop-tax-evasion-and-money-laundering.html

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VanRant

Wow, best news this year. Levels the playing field for everyone.

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Oracle

Read the article. Moreau not committing to anything. But good for us to know if we are setting up a corp.

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Oracle

Moreau basically said he won’t do it as to privacy concerns.

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Diadora

The “Racist” word is used when the Richmond School checks for residency status of immigrant parents. The district claims it is merely doing its due diligence to ensure the system is not abused by non-residents, who should be paying international student fees.
http://www.richmond-news.com/news/richmond-school-district-under-fire-for-scrutinizing-residency-status-1.21245435
Best word to use to put anyone on the defensive.

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Oracle

That is robbery of taxpayers here and breaking the law if they are lying.

Deportation only remedy for cheaters. But our politicians corrupt. Treason?

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Soda

Charge them . A foreign millionaire that can afford a house in another country should be able to pay the fees.

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Shut It Down Already

It’s clearly not racist if they ask all parents to demonstrate residency. Same way that asking parties to real estate transactions their residency is not racist.

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YVR

But they call Trump racist for deporting illegal immigrant criminals. That is what the left does. Just yell racism when you get caught doing something wrong.

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Shut It Down Already

Except Obama deported more than Trump. They call Trump racist for other reasons.

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Oracle

Its not the left. Its the 1% who can’t afford to see their global stock and bond prices go down.

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Soda

Nope … who are the employers for illegal immigrants in US. The very population that is against minimum wage . Low wages are the driver for illegal immigration.

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Bag it and tag it

All the parents in Richmond ARE chinese.

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Shut It Down Already

False.

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Combat roach

Motherfuckers know procedure.

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Best place on meth

Race-baiting prick says:

“They turn the residency into a big issue. In my client’s case, she owns property in the catchment area and pays property (and school) taxes,” explained Wong.”

Owning property doesn’t make one a resident, idiot.

We have these things called foreign owners, sadly.

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Oracle

Break from housing;

I think the Lower mainland should be moving towards an electric car future. It takes an hour to charge a Tesla for 450 km+ at one of their charging stations. We can be leaders in this and we will have cleaner air as well.

We can raise revenue on ICE (gasoline cars) by charging a 5% Carbon sales tax premium and then collect it again when the car is sold as used. A slight nudge to get people to buy electric.

It would end our dependence on the refineries and oil companies who gouge us. Allow for discount charging overnight when electricity demand is low.

Comments?

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Shut It Down Already

We should get ahead of the demand curve by building a new dam.

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history

Id like to see Detroit make an electric powered van for under 12500. Offer it to the consumer who has the cash saved. Or else 20000 and up, if it must be financed.

Id like to see Selina Robinson sell her second house and buy one of these vans. Start designating parking lots for people who need to park the vehicle overnight and stay in their vehicle. Vacate the parking lot to go to drive to their jobs by 9am. Parking lot is rent free, just like how homeowners can apply for HOG to avoid property taxes.

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Pippi

I own an electric car, and while I took advantage of all of the incentives available to get the best deal, I recognize that by having these incentives, the government is essentially giving money to people who can already afford luxuries. Poor people have to live out in the suburbs and have to be able to run cheap gas vehicles. We’re already gouging them with bridge tolls, etc, so that we can cut income taxes. If you want poor people to stop using gas vehicles, we need to invest heavily in public transit. But in the long run it’s probably good to encourage people to buy electric vehicles who are looking to buy new cars, too? I think they’re going to surge in popularity soon, anyway. I seriously have the cheapest second hand leaf, and although it’s an older model… Read more »

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Owen

There’s something to be said for supporting new technology, but car subsidies are one of the most expensive ways to reduce emissions. It’s like 10x cheaper to pay people to be more energy efficient. Also, instead of subsidizing purchase of American made cars, why not subsidize battery and fuel cell research here?

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Yikes

Chatting with mortgage broker today…. he says people are panicking wtf panic over a 1/4 point….get the popcorn ready

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Shut It Down Already

They’re panicking because the rates that they thought would never go up are going up?

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BubbleTea

‘Come to CRA before we go to you’: International deal designed to expose offshore tax cheats
Canada has so far worked out information-sharing details with 42 countries.
http://www.cbc.ca/news/politics/tax-evasion-banks-cra-1.4209208
Hope China and HK is on the list.

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patriotz

Cheating on taxes is endemic in China, so their government doesn’t have any reliable information in the first place.

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Best place on meth

The words “on taxes” were not necessary.

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Oracle

So Andrew Weaver is pissed that the NDP is bringing in the staff of Vision Vancouver — the developer wing. WTF?

I kid you not. Weaver just posted that he will hold the NDP to account.

So basically Housing will have to wait until next election because Weaver not going to support half assed measures.

People who want lower price should need to step up their game and directly call out these people. They are playing you.

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Screwed

Not him, somebody else. He confirmed their position.

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Dave

Weaver is a dirtbag from first hand experience, but he’s right on this.

Vision Vancouver types will resist any real estate changes.

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David

The CAD rose against the USD by a large margin since the rate hike. What do you guys think will happen to the USD/CAD exchange rate if Canada real estate tanks?

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Dave

I think the dollar is just returning to where it should have been over the last couple years. Another 1/4 point hike should juice it a bit more.

But oil and commodities are going to be a drag in the longer term as would a soft housing market. That said, the Saudi’s will try to get prices up to $60 IMO, which helps our dollar a bit if they are successful in doing that.

If real estate were to tank, then we’ll likely go into a recession. The cure, as always, is cutting rates, which means a drop in our dollar. I bet we would see the high 60’s in that scenario.

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Owen

Depends on what exactly you mean by tanking, but the other scenario I could see is that oil shoots up (apparently not likely until 2020?), forcing CAD and rates higher, and consequently – in combination with new measures to improve affordability – causing RE prices to drop. Now I don’t know how much real estate can really tank before rates get cut, it would have to be local to Vancouver, but I think it could happen. Dave’s recession scenario is more realistic; there might also be foreign capital flight from RE causing CAD to drop even more than rate cuts would imply.

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Oracle

Only roae due to Trump indirectly calling us currency manipulator. BoC raised them as a token of good faith prior to NAFTA negotiations.

Don’t believe anything else. I don’t have to sell you anything.

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YVR

“The CAD rose against the USD by a large margin ”

Short covering. The CAD will be heading down again soon.

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bullwhip29

Suite of housing measures cooling market largely as expected: Morneau
http://www.680news.com/2017/07/18/suite-of-housing-measures-cooling-market-largely-as-expected-morneau/

>>> if this is the case, then how does one explain what has happened with prices in Vanc following the rollout of the FBT? these chumps are always the first to pat themselves on the back when the wind seemingly blows in the direction intended but mysteriously vanish when the tough questions get asked as is the case here where so called measures to cool the housing mkt didnt work.

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history

the MSM and govt are liars?

what is happening is the Rate of Refinancing is slowing, and as this Frequency drops, House prices drop.

This correlation is well known by the readers here. But doesnt get mentioned explicitly by the MSM

The deregulated mortgage broker industry was used as the driving force to turn new and old Canadians alike into debt servitude, and complacent slaves.

The broker industry was run like a TSX stockmarket bucket shop. High pressure sales methods using the phone.

The mortgage broker industry has peaked with prices. McLister is a fantastic study for those wishing to understand the dynamics of our housing bubble.

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Dave

The sales numbers Paul has posted this past week look soft to me. Anecdotally, I’m seeing mixed outcomes. Commercial property seems to remain strong by all indications, but I’m seeing softness in single family homes. Normally, the lower priced houses in any given neighbourhood sell quickly so inventory is always low. But, I’m seeing those houses sit on the market for periods longer than they did in the last few years.

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Owen

OSFI regulations may be bigger than anything that has been done yet. Morneau also speaks for Canada as a whole; BC introduced policies to counteract CMHC tightening (the home loan program) and the rise in housing starts hasn’t yet turned into much of a rise in completions. Give it time, keep the home building pedal to the metal, and BC might yet see results too.

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Oracle

Thus they won’t become law.

Haven’t you guys learned anything over the last decade. Say one thing, do another by watering it down with lots of loopholes.

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bullwhip29

A Delta resident’s take on the proposed Massey bridge
http://www.delta-optimist.com/opinion/letters/outdated-crossing-for-world-class-city-1.21231410

>>> translation: build the bridge as Krusty promised but charge us nothing (as per NDP campaign platform) as a failure to do so would result in lower RE values

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Abdul Lahazi

I thought traffic volumes are actually declining through the tunnel from previous years.

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bullwhip29

Foreigners pump up home prices in U.S.
http://www.foxbusiness.com/markets/2017/07/19/foreigners-pump-up-home-prices-in-u-s.html

“The recent surge in foreign buying was driven largely by Canadians flocking south to escape their own overheated real-estate markets.”

“They’re shocked at what $300,000 or $400,000 will buy them. In Florida they can get a detached single-family house in that price range, while in Canada even an 800-square-foot condo is roughly twice that much.”

“Chinese buyers remained the largest purchasers of U.S. homes by dollar volume, with $31.7 billion worth of purchases in the year.”

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Shut It Down Already

(Not even 10%)

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Combat roach

Is that low, even if it is true?

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Shut It Down Already

You should know the answer by now.

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patriotz

” In Florida they can get a detached single-family house (for $300-400K), while in Canada even an 800-square-foot condo is roughly twice that much.”

For Christ’s sake, they’re comparing one of the cheapest markets in the US with Canada’s most expensive ones. You can get a detached house in Ottawa or Edmonton for that price. Well it is Fox after all.

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YVR

You are comparing Florida to Ottawa or Edmonton? That is worse.

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Best place on meth

If the border disappeared, everyone and their dog would move from Ottawa/Edmonton to Florida.

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southseacompany

“How the Bank of Canada’s rate hike could spell trouble for Trudeau’s middle-class dream”, Financial Post

http://business.financialpost.com/news/economy/polozs-rate-hike-spells-trouble-for-trudeaus-david-and-neera/wcm/bdf1ae18-978f-4a1b-b852-0e689cdae38f

“Poloz might have to tighten more quickly because Trudeau’s deficit agenda is adding more money into the economy, and a faster pace of rate hikes could also magnify costs for the heavily indebted.”

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bullwhip29

higher rates and therefore a further spike in the loonie would hammer many sectors including, RE, tourism, manufacturing, film/tv, technology and retail. if the lineups at the peace arch (and border crossings near Cda’s other 2 largest mkts) over the wknd are any indication, then big trouble is just around the corner for the cdn economy. and to think krusty wholeheartedly believed all these tourists from china, s.america, europe and usa swarming all over town were somehow a direct result of policies she implemented.

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history

worried about precious leisure industry viability? Simply allow an Interest rate costs deduction, like the Americans.

the Americans, for their part, can import the Canadian Health care system, and provide free basic coverage to everyone

bring the two currencies to parity

get rid of the border

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Owen

I don’t think the loonie will spike again. BoC schedule for rate hikes is now similar to the Fed. The dollar spiked because BoC had an unexpected and sudden change of heart. If Canada (read: natural resources) start outperforming the US economically then maybe, but the Fed is also starting to unwind QE. Also, US deficit spending vs. Canada & provinces is similar and neither is likely to change any time soon.

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Abdul Lahazi

There is also probably some political pressure from the USA to have us raise our interest rates.

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southseacompany

“‘Playing with fire’: Housing experts warn OSFI against new stress tests”< BNN video

http://www.bnn.ca/playing-with-fire-housing-experts-warn-osfi-against-new-stress-tests-1.808316

"“This could easily be one of the most impactful mortgage restrictions of all time,” McLister, founder of RateSpy.com, told BNN in an email."

"“But if housing does dive because of OSFI's move, not only will policymakers and our real estate-dependent economy get burnt, but so will anyone who relies on home equity.”"

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bullwhip29

very conveniently the banksters along with the rest of the RE cartel will now have someone to point the finger at should things unravel in short order

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Best place on meth

I hope McListard loses everything. What a prick.

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Combat roach

Moonbeam and the city are doing a good job as planned…

https://www.biv.com/article/2017/7/vancouver-one-bedroom-rent-hits-another-record-hig/

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Abdul Lahazi

Where can a list of Chinese owned BC companies be found? I do not wish to patronize any company or business owned by mainland Chinese communists.

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KickThemOut

If you see a Chinese supervisor or manager who can speak Mandarin, it’s owned by mainland Chinese communists. It’s just that simple.

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Oracle

I’m hearing reports that the housing measure that will be introduced in the fall will be a 2% levy on homes owned by non-residents. The tax will only be applied to metro vancouver.

Also hearing that the Green Party will stay out of housing until the next election.

So up up and away for Abbotsford and Kelowna.

Comments Specku?

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Oracle

Nothing to address rents as Trudeau keeps piling in more people here.

Rents go up. Low end housing prices rise.

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Owen

It’s not like this is something new or a passing fad. The Metro needs to learn to build faster.

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KickThemOut

Hmmm…nothing some stuffed envelopes can’t solve. Ever notice that 20 storeys condo buildings get build at a much faster rate than a SFH?

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Bag it and tag it

When you say you’re ‘hearing’, could you please provide a link or at least state where you heard this (i.e. radio show)
The 2% would be amazing, but what they really need to do asap is cancel that down payment helper scheme.

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KickThemOut

All of Oracle’s sources are anonymous government insiders who are not authorized to speak to media or public about any government policies. Hence the need to protect their identities.

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Reasonfirst

That was sarcasm I hope.

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bullwhip29

Maple Ridge man sues stepdaughter over dispute involving real estate flip
http://vancouversun.com/news/local-news/maple-ridge-man-sues-stepdaughter-over-alleged-breach-in-agreement-involving-real-estate-flip

>>> more fun and games in the world of real estate, Maple Ridge edition…

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bullwhip29

Grouse Mountain Resort’s Chinese investor ‘silent,’ says new Canadian owner
http://www.cbc.ca/news/canada/british-columbia/grouse-mountain-sold-1.4210574

>>> why the defensive posture and all the tip toeing around? if they want to be so transparent about the process, why not disclose beneficial ownership of CM Canada? suggestions that the combined entity won’t be controlled entirely by the chinese is beyond laughable as are claims the resort and surrounding properties (with perhaps the best view of Vanc) won’t undergo major redevelop

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KickThemOut

Would it make you feel better if the owners of Whistler and Blackcomb bought it and left it to rot?

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Abdul Lahazi

Yes.

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Shut It Down Already

What exactly are they expected to say?

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bullwhip29

City of Vancouver bows to pressure, unveils plan to rent empty Trout Lake home
http://www.cbc.ca/news/canada/british-columbia/city-of-vancouver-bows-to-pressure-unveils-plan-to-rent-empty-trout-lake-home-1.4211136

>>> i think city is telling us a bold faced lie regarding these so called plans to expand park when the truth will likely involve some sort of a deal with friendly developers who undoubtedly plan to do a whole lot more than some landscaping

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KickThemOut

So what’s your solution to more affordable housing? Stop development? Build a wall so only the worthy can live in Vancouver? Expel maybe 100K undesirables?

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Oracle

We south Asians and Asians are gong to have a majority here in the lower mainland one day. Thats a given and now it is too big too fail.

However, we can make housing affordable by taxing 2nd homes. Maybe 4%?

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Abdul Lahazi

Chinese immigration into Richmond BC has transformed a once healthy, balanced, British city into a loud, crass, Chinese-only commercial land lot.

https://www.dailystormer.com/the-destruction-of-richmond-british-columbia-through-chinese-migration/

John Law and Kerry Stevens, Richmond resident.

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patriotz

“British”? Please. And note that prior to WWII Richmond had the largest Asian population %-wise of any municipality in BC, probably in Canada for that matter.

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Abdul Lahazi

https://www.youtube.com/watch?v=eaGSBXMobPM

is Richmond like this now?

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KickThemOut

I can’t wait for 100K your true brothers settling in Richmond. it will make Richmond great again, and Sharia law!

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Abdul Lahazi

Not that it really matters but is there any proof of this? There was quite a few Japanese in Steveston before WWII but I cannot find any figures to verify your statement as fact.

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KickThemOut

So why are you caring so much? If it doesn’t matter much?

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Shut It Down Already

Before anybody clicks the link:

“The Daily Stormer is an American neo-Nazi and white supremacist news and commentary website.”

https://en.m.wikipedia.org/wiki/The_Daily_Stormer

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Abdul Lahazi

and? What is your point? Censorship? Don’t click that link or you will be sorry. This is just another perspective. Too bad it doesn’t align with your particular worldview.

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Shut It Down Already

Neo-Naziism is just another perspective, and somehow as valid as any other?

You’re a joke. A toxic, racist joke.

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Abdul Lahazi

You just proved my point.

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Shut It Down Already

Still trying to defend the indefensible, I see.

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KickThemOut

Well, the Nazi did try to exterminate Abdul’s sworn enemy 70 years ago.

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Spec

To quote one of my fave bands from the ’80s, “Nazi punks, fuck off”…

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bullwhip29

despite what you might think this statement is true. 90% of richmond has been overrun by chinese, many of whom do whatever the eff they want without a care in the world. on any given day it is a fight and struggle to get things done as many places of business are simply bursting at the seams and can only be visited during “off peak” times now. even areas like steveston, which itself is undergoing major redevelopment are quickly transforming. gone are the days when one could go for a quiet stroll, pop into a cafe for a nice lunch/dinner etc. now even that part of town is populated with illegally parked luxury suvs, litter strewn all over, tour buses blocking streets/alleys, crowded noisy restaurants, toy dogs who crap anywhere and everywhere, chaotic fishing docks, ice cream stands with lines… Read more »

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history

you forgot Angry Seal.

and the kids everywhere playing Angry Seal on their ipods

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KickThemOut

So basically you are pissed that businesses are making money and successful, and you can’t have your quiet meal in a restaurant all by yourself?

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MarKoz

The swastikas and pictures of Adolf kinda gave it away…

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KickThemOut

Hence why it’s Abdul and BPOM & CO favorite website for trusted opinions and news. They double and triple check all facts! 🙂
I wonder if BPOM has a portrait of the Fuer himself that he salutes to every morning when he gets up, and before he goes to sleep.

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Best place on meth

A lot of good points made that most sensible people (not the hyper-policitally correct twats) would agree with.

Skip the comments though, nothing good there.

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KickThemOut

Exactly…if those pesky Hong Kongers didn’t come, we would still have u-pick farms along No 3 Road, instead of strip malls and Chinese restaurants, and fugly condo buildings. Fuck those HKers who ruin everything.
Abdul I recommend you to be commander of Purge Richmond brigade. Rally your fellow brothers and take back Richmond! 72 virgins and eternal love of the prophet awaits any members who fell in this sacred duty.

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Best place on meth

Speaking of U-pick farms, my favorite place for over years is now a write off as it has also been overrun by chinese.

Enormous crowds last weekend, 90% chinese.

I observed some of them leaving the fields and going back to their cars with no berries in in their possession. It seems they just came to gorge themselves and leave.

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Doomcouver

This is just an old 2015 article from The Council of European Canadians, a right-wing anti-immigration group in Canada. The title is a little inflammatory, but the sentiment is brought on by people who don’t agree with Canada’s immigration policies. I would count myself among them. Allowing massive waves of culturally disparate populations to your own into your country inevitably causes something called “ghettoization”. Basically cultures and/or races are segregated geographically into an area. This makes integration difficult because they often retain their own language, culture, and societal norms without adopting their host countries’. Racial segregation is not anything we should want. Canadians should be proud of our European style culture, and want people who live in Canada to embrace it. Politicians do not want to enact policies to reach this end however as left-wingers would consider such policies culturally… Read more »

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paulb

New
275
Price Change
78
Sold
129
TI:9858

http://www.clivestevepaul.com

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Just me

Fast approaching 10k. Will it happen by the end of July?

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Combat roach

Bteo week?

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Bag it and tag it

It will happen on or before next Tuesday.

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Bear Vancouverite

Eby not being Housing minister is a big blow IMO. Sure Patriotz will say Eby’s position is the NDP’s position on housing, but the fact of the matter is Eby has spent the past 4 years deep in this file and knows a lot of the nuance and frustration of the housing crisis. He’s been following it closely, interacted with users on multiple platforms (including being a guest on multiple programs ranging from TV to Youtube to Reddit) and has spent more time advocating Housing problems than any other MLA. I’ve spoken to Eby and I see him as someone who looks at the problem deeply and with a good grasp of the crisis as well as the challenges and optics of handling it. Eby has also spent considerable time talking to a broad range of stakeholders in this crisis,… Read more »

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Combat roach

Perhaps she is just a decoration in the ministry of housing whereas Eby will have more space and power to clean up the shitshow related to housing matter in BC?

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patriotz

“and has spent more time advocating Housing problems than any other MLA”

Because that was his job. If Eby were left out of the cabinet or given a token post, I would certainly see that as a sign Horgan was not serious about housing. A-G is a senior post and one that requires direct expertise. I don’t see his appointment as diminishing the importance of housing at all, quite the opposite that Horgan was happy with Eby’s performance.

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YVR

“Horgan was not serious about housing”

Horgan is serious about housing. He owns 2 of them. So does Selina.

Eby is one of the few that rents. That disqualified him. That and being competent.

https://thetyee.ca/News/2017/01/25/PDS-HORGAN-2016.pdf.pagespeed.ce.WAo9iwfEfS.pdf

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patriotz

“He owns 2 of them.”

As I’ve already pointed out, he doesn’t. He’s the joint owner of his residence in Langford, assessed $425K, and has 1/3 interest in another property.

https://evaluebc.bcassessment.ca/Property.aspx?_oa=QTAwMDBIUUQxNg==

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Just me

I am actually quite happy about the post Eby was given.

(1) It is a very senior post, so his opinions will matter.

(2) He is in charge of law and overseeing the legal framework. That includes, in a broad sense, enforcement oversee and making sure that the judicial and quasi-judicial enforcement is done properly. I wonder if he will be able to change the way our province deals with “money laundering”.

All in all, very good news. And certainly not positive for the pro-housing lobby.

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Bear Vancouverite

I do agree A-G is a very good post, I’m not saying his post is not valuable. I just hope the Housing Ministry asks for his significant input.

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YVR

“I just hope the Housing Ministry asks for his significant input.”

Cameron Muir will be advising them going forward. No need for Eby. Eby will look after Trans bathroom law and other important NDP priorities.

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patriotz

Couldn’t resist throwing a little transphobia into that one? Well thanks for letting us know where your dislike for the NDP is really coming from.

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YVR

Joint owner with his wife. LOL. Spin away.

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YVR

“(1) It is a very senior post, so his opinions will matter.”

Yes like the AG is always involved in housing issues. Their couldn’t be a post further away and less relevant to housing.

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Best place on meth

Think “criminal activity” related to housing.

Not that I’m happy with this appointment, it should have been a no-brainer to put Eby in Housing but he is a man of many talents after all.

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YVR

“Think “criminal activity” related to housing.”

Like what? Nothing criminal is taking place in Canada other than maybe tax evasion which is not an AG responsibility. It is CRA/federal.

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YVR

“Selina Robinson is now Housing minister”

LOL. Selina who? The only thing notable about her is she owns two houses both with mortgages.

https://thetyee.ca/News/2017/01/25/PDS-ROBINSON-2016.pdf

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history

Victoria property refinanced how many times?

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Abdul Lahazi

NDP like to speculate on RE just like any other politicians. Remember Mike Harcourt’s redevelopment/flip on Pt. Grey Road?

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Best place on meth

This is what gender equality gets you when putting together a cabinet.

Instead of filling the posts with the most qualified people, you end up with 11 men and 11 women.

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history

The NDP sufferred in Cowichan because of this policy… opened the door for Furstenau and the 3rd Green seat was a wrap.

Careful what you wish for

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bullwhip29

“Canadian” firm buys Grouse Mountain
https://www.biv.com/article/2017/7/canadian-firm-buys-grouse-mountain/

GM Resorts Limited Partnership was established by CM (Canada) Asset Management Co., Ltd. (CM Canada), which is a Canadian investment and asset-management company that has more than 60% ownership by Canadian investors, according to a news release from the resort. China Minsheng Investment Group subsidiary CMIG International is CM Canada’s international investor.

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bullwhip29

https://www.youtube.com/watch?v=eZ33lJFsZrA

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