That foreign buyer tax

Well it’s been a year since the BC government brought in a ‘foreign buyer tax‘ in the Vancouver metro area.  How’s that affected the market?

“The public perception is that it hasn’t brought down prices and has had no effect,” said Simon Fraser University professor Josh Gordon, a political scientist in the university’s school of public policy. “But the slowdown in price increases is a positive.”

Even before the tax was implemented, Mr. Gordon said it was unlikely to have a huge impact since it was not targeting all foreign money, much of which comes in with new immigrants who are not affected by the tax.

He and others have always said that the province – or country – would need to add many more measures: more investigation into the sources of money coming into the country; more rigorous pursuit of people avoiding capital-gains tax on their real-estate transactions; a more comprehensive tax that targets people not paying income-tax in Canada.

Mr. Gordon believes that, if the lack of dramatic impact from the tax proves anything, it’s that people in Vancouver have a profound belief that the market will continue to rise.

Read the full article over at the Globe and Mail.

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Hyper-mega-Bull
Member
Hyper-mega-Bull

>much of which (foreign money) comes in with new immigrants

oh look… oracle is proven right once again.

Shut It Down Already
Guest
Shut It Down Already

We knew this already because of the stats on foreign buyers that everybody here chose to ignore. Newsflash – Canada is a country of immigrants.

BubbleTea
Guest

Multiple-entry visas:
2010 – 27,739 approved
2015 – 390,000 approved
2016: Canada Will Open 7 New Visa Offices in China

Abdul Lahazi
Guest
Abdul Lahazi

Additionally, in 2015, Canada received 594,897 applications for temporary resident visas from Chinese nationals. There was also a nearly 95% increase in study permits issued between 2010 and 2015 to Chinese nationals.

kabloona
Member
kabloona

What a surprise….

🙂

“Canadian economy’s addiction to real estate fees is ‘stunning,’ says analyst”

https://ca.finance.yahoo.com/news/canadian-economy-apos-addiction-real-090000482.html

BubbleTea
Guest

“Xi Jinping expresses confidence the PLA military will make greater contribution to world peace”
His SouthSea isl building and inaction on N Korea has push the world to the edge of war.

KickThemOut
Member
KickThemOut

When did North Korea became a province of China?

Anyways, Trump will take care of it as he always does.
http://www.zerohedge.com/news/2017-07-31/trump-well-handle-north-korea-it-will-be-handled-we-handle-everything

Abdul Lahazi
Guest
Abdul Lahazi

Then trump needs to “take care” of China.

Shut It Down Already
Guest
Shut It Down Already

Yes, he’s doing an awesome job of taking care of things so far.

Oh wait, he’s taken care of nothing. Remember all those “first hour” and “first day” promises? Of course you don’t – because you choose not to.

Best place on meth
Member
Best place on meth

Trump needs to “take care” of Turdeau as well, before that motherfucking, drama teaching feminist makes us another province of the worst country that ever existed.

Shut It Down Already
Guest
Shut It Down Already

North Korea were never really a threat until GWB assigned them to the “axis of evil” before going on to demonstrate what happens to regimes that clearly don’t possess WMDs.

Abdul Lahazi
Guest
Abdul Lahazi

Sure all those nuclear missiles pointed at us are no threat at all.

Shut It Down Already
Guest
Shut It Down Already

Good grief. There were no nuclear weapons in 2001. Do you see my point yet?

Abdul Lahazi
Guest
Abdul Lahazi

Who cares about 2001. That was 16 years ago.

Shut It Down Already
Guest
Shut It Down Already

I’ll have to give you the benefit of the doubt and assume that you pretend to be this dumb.

kabloona
Member
kabloona

Good point… an extremely dumb move by GWB, along with the invasion of Iraq and subsequent killing of Hussein and his two (awful) children….that pretty much showed dictators around the world that they *needed* a nuclear deterrent against the US…..

Best place on meth
Member
Best place on meth

Ah yes, Bush is to blame for the situation today.

How ridiculous is that logic when they’ve been working on a nuclear missile program since the 50’s.

Obama followed up with nothing on this file in his 8 years. Why not blame him too?

And the blowjob president before Bush. Zero.

Shut It Down Already
Guest
Shut It Down Already

I guess you need to understand the difference between a genuine threat and an annoyance. Obama did very little about then, same as he did very little about the escalating situation in Syria, but it’s pretty clear that Bush transformed DPRK into a threat by essentially telling them that they better start defending themselves against unilateral pre-emptive strikes.

Banned Oracle
Guest
Banned Oracle

Admin: Why am I now banned now? I didn’t post anything to offend; just mentioned impact of 10 yr visas on rents and real estate. Makes me wonder.

Posting from another computer/connection.

best place on earth
Guest
best place on earth

you are banned cuz you keep saying temp visa will make rental prices keep going up. and it scared the shites out of these guys.

Combat roach
Guest
Combat roach

Unprecedented sense of humor, just outstanding by all known criteria.

squeak
Member
squeak

Somebody is having “fun”.
I just clicked on this site and got a message “you are banned” that lasted for 3 seconds. I clicked again, and got to the site.

Best place on meth
Member
Best place on meth

I’ve seen that as well, but only on a mobile device which I rarely use for this site.

Diadora
Guest

Anbang is not giving senior citizens a bath at least one a week & cut staff.
https://www.merrittherald.com/chinese-takeover-spells-trouble-b-c-seniors/

squeak
Member
squeak

“A nation’s greatness is measured by how it treats its weakest members.”
~ Mahatma Ghandi

KickThemOut
Member
KickThemOut

Looking back on the Holocaust Gandhi stated, “Hitler killed five million Jews. It is the greatest crime of our time. But the Jews should have offered themselves to the butcher’s knife. They should have thrown themselves into the sea from cliffs. As it is, they succumbed anyway in their millions.” He also said that had the Jews committed collective suicide, that would have been “heroism.”
~ Mahatma Ghandi
http://www.jpost.com/Opinion/Repudiating-Gandhian-pacifism-in-the-face-of-mass-murder-449885

KickThemOut
Member
KickThemOut

He also loved the Kaffirs in South Africa

Kaffirs are as a rule uncivilised—the convicts even more so. They are troublesome, very dirty and live almost like animals.

“My Experience in Gaol”, Indian Opinion (7 March 1908). Also: Collected Works of Mahatma Gandhi, op cit., Vol. 8, p. 199.

https://en.wikiquote.org/wiki/Mahatma_Gandhi

Loved the guy…he knows his place in the world.

Combat roach
Guest
Combat roach

Hopefully, the decision wasn’t driven under influence of traditional hygiene and culture:

“Mao rarely bathed. Even if he did, he disliked soap and water method. Rather, he preferred to be scrubbed with steaming towels.
Mao did not brush teeth. He preferred to rinse mouth with tea. Apparently, his teeth were pretty rotten.
Mao did not like flush toilets. For years after he became the most powerful man in China, he defecated in the palace gardens. Finally, Zhou Enlai was able to convince him to use an indoor bathroom.
Mao often had an assortment of body lice and skin infections. He often just dropped his pants in public to scratch himself.”

http://articles.latimes.com/1995-02-19/books/bk-33551_1_private-life-of-chairman-mao

Best place on meth
Member
Best place on meth

So that’s why the wonderful people of china adore him so much.

Best place on meth
Member
Best place on meth

What do you expect from barbarians, everyone could see this coming.

Soon they’ll remove all the seniors from their rooms and leave them in hot cars with the windows up while they turn the care centre into gaudy hotel.

Just me
Guest
Just me

Liberals try to assuage fears ahead of possible free trade deal with China, documents show

http://www.cbc.ca/news/politics/liberal-consultation-free-trade-china-1.4226562

Screwed
Guest
Screwed

Robinson is still “reviewing”

Best place on meth
Member
Best place on meth

She’s been on the job for well over a week now.

Why hasn’t she come up with all the solutions yet?

Same old fucking NDP, huh?

Shut It Down Already
Guest
Shut It Down Already

The solutions she’s presenting would traditionally be those that were, you know, campaigned on. Being elected should be a signal to implement, not plan.

Just me
Guest
Just me

Like Christy Clark with her promises of political financing reform, transparency, lower MSP, LNG investments, …. the list of promises goes on. She had years, the only thing she did was enrich herself.

The funniest bit was today. She lied again, saying that she had decided to resign months ago but could not tell us because it would hurt the party and the province.

Of course, the reality us that she clinger on desperately hoping that some lucky turn would save her selfish backside.

Abdul Lahazi
Guest
Abdul Lahazi

Foreign buyers’ tax and other measures under review, B.C. housing minister says:

https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=TGB1513&mobile=false

VANCOUVER – British Columbia’s new housing minister says she is reviewing the tax on foreign buyers of Vancouver real estate and the province’s interest-free loan program to first-time homebuyers. The NDP promised to bring in an annual two per cent tax on vacant properties, but Robinson says that too is under review.

Hopefully, “under review” means they will soon take some positive action on these things and not sweep it all under the carpet.

CBM999
Guest
CBM999

I hope so, but under review could mean scrapping it too……Depends if the developers and China’s Politburo has gotten to the NDP yet.

Then again the NDP has its roots in communism so maybe it was a mistake to elect them.

But wasn’t a mistake is Christy Clark is leaving public service for good. I’m glad I don’t have to see her smug smile every day anymore. Now once JT is kicked out I can breathe easy again.

Oracle
Guest
Oracle

In My Opinion ((Reread)), the only thing the NDP should do is eliminate foreign $$ so prices fall 30-40%.

However, developers are in the drivers seat and they might stop building. Add to this the Trudeau and MacCallum shitshow where perm Immigration, foreign students, and 10 year visa floodgates are wide open. Rents have to rise because of this.

I sent David Eby a letter to get his shit together or else they are gonna be attacked from 2 fronts (Liberals and their NDP base). The longer they wait, the more likely their policies won’t have any impact as 10 year visa holders are coming in at a NET rate of 500/day.

KickThemOut
Member
KickThemOut
Oracle
Guest
Oracle

Interesting. Why?

India buys tons cause it’s mandatory to give in weddings. Traditions die hard.

KickThemOut
Member
KickThemOut

Looks at Garth’s squealing and wailing about private corporations tax loopholes being closed. No more income splitting with his wife, dog, and imaginary Amazons to avoid paying taxes. Can’t wait for Monroe to pass the changes and CRA starts auditing him right away!

CBM999
Guest
CBM999

Morneau not Monroe.

Monroe was a US president who was the last president to wear a tricorn hat a breeches, as silly as that looked, it still doesn’t look as silly as the current guy.

The Man
Guest

I though Monroe was that chick that Kennedy boinked. But, hey, whatever comes to mind first.

Best place on meth
Member
Best place on meth

You are correct, it was Marilyn who came up with the Monroe Doctrine.

Abdul Lahazi
Guest
Abdul Lahazi

His golden spoon is being taken away.

kabloona
Member
kabloona

okay, it’s Morneau not Monroe but I still concur with the sentiment re. Garth…. 😉

paulb
Member

New
247
Price Change
55
Sold
174
TI:9844

http://www.clivestevepaul.com

Yikes
Guest
Yikes

Lots of sales due to rate holds and word NFL about to snip out foreign buyer Fact

Oracle
Guest
Oracle

English please

Just me
Guest
Just me

National Football League?

Best place on meth
Member
Best place on meth

Chinese buyers prefer Montreal over Vancouver.
Data from a Chinese real estate website has revealed that Montreal will eclipse Vancouver as the top destination for Chinese investors

http://www.westerninvestor.com/news/british-columbia/chinese-buyers-prefer-montreal-over-vancouver-1.21274364

Fantastic news, if true.

Screwed
Guest
Screwed

Fake news. Made just redirect attention from Van

bullwhip29
Guest
bullwhip29
Best place on meth
Member
Best place on meth

Looks like Anbang is being liquidated, along with it’s CEO.

China is turning Japanese.

A massive overseas buying spree grabbing anything they can at inflated prices to show the world they’re big time players, then a massive debt problem followed by liquidation and economic collapse.

Same horrible demographics as well.

The biggest difference is the trillions of stolen money that have already escaped thanks to the incredible corruption in china.

Shut It Down Already
Guest
Shut It Down Already

Reminds me of Valeant Pharmaceuticals.

Just me
Guest
Just me

Except that, instead of a single company, it is an entire country.

Shut It Down Already
Guest
Shut It Down Already

What’s the capital of Anbang?

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