BC, economy, hype, politics, prices, renting, supply

The BC Housing Mandate

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67 Comments

New government, new housing mandate.

In your role as Minister of Municipal Affairs and Housing I expect that you will make substantive progress on the following priorities:

  •   Partner with local governments and First Nations to develop a community capital infrastructure fund to upgrade and build sports facilities, playgrounds, local community centres, and arts and culture spaces.
  •   Through partnerships with local governments, the federal govenrment, and the private and not-for- profit sectors, begin to build 114,000 units of affordable market rental, non-profit,
    co-op, supported social housing and owner-purchase housing.
  •   Create new student housing by removing unnecessary rules that prevent universities and colleges from building affordable student housing.
  •   Amend the Residential Tenancy Act to provide stronger protections for renters, and provide additional resources to the Residential Tenancy Branch.
  •   With the Minister of Finance, deliver an annual renter’s rebate of $400 dollars per rental household to improve rental affordability.
  •   Work in partnership to develop a homelessness action plan to reduce the homeless population through permanent housing and services. As part of the plan, conduct a province-wide homelessness count.
  •   Work with the Minister of Finance to address speculation, tax fraud and money laundering in the housing market.
  •   As the Minister responsible for TransLink, support the Mayors’ Council 10-Year Vision for Metro Vancouver Transportation by funding 40%of the capital costs of every phase of the plan, in partnership with all levels of government.

We suspect many people reading here are disappointed that Eby isn’t the housing minister and are curious to see how that second to last point turns out. You can read the full letter here.

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Best place on meth

Why haven’t the NDP fixed everything yet!!

They’ve been in power for a week already!!

They’ve already broken all their promises!!

They killed LNG!!

Are we there yet, are we there yet!!??

SQUAAAAWK!!!!

~thud~

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best place on earth

Instead of waiting for the hulk party to fix your problem, why don’t you fixed it yourself? Don’t just sit there and wait for handout. Don’t be a freeloader!

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Shut It Down Already

Some of their promises were broken before they came to power. Impressive.

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YVR

You get sucked in easy.

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bullwhip29

Racist graffiti painted on Vancouver home facing demolition
http://www.vancourier.com/news/racist-graffiti-painted-on-vancouver-home-facing-demolition-1.21342103

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Combat roach

WTF is racist there? Faking convenient business hypocrisy…

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bullwhip29

Urbanite demand drives up waterfront cottage prices
http://www.westerninvestor.com/news/british-columbia/urbanite-demand-drives-up-waterfront-cottage-prices-1.21294075

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bullwhip29

BC Needs a Big Money Corruption Inquiry, Fast
https://thetyee.ca/Opinion/2017/07/24/BC-Big-Money-Corruption-Inquiry/

>>> the NDP’s life may very well turn out to be short lived, so they better get in a few body blows while they have the chance…

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Oracle

Doesn’t look like it. Morons can’t even follow their own platform.

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Best place on meth

Investigate the Liberal cesspool and put Krusty in jail when it’s done.

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Just me

Will they have the guts to do it? If they start digging into Krusty’s dealings, they are guaranteed to find a variety of indictable offences.

They will probably choose the easy way out and let her get away with her loot.

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Shut It Down Already

It’s adorable to watch you imitate your hero.

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bullwhip29

Chinese millionaires pick Seattle as No. 2 place in the world to live
http://www.seattletimes.com/seattle-news/data/chinese-millionaires-pick-seattle-as-no-2-place-in-the-world-to-live-survey-shows/

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bullwhip29

and connecting the dots further…well, whad’ya know…we’re gonna wind up paying for this too

Infrastructure bank studied as funding option for U.S.-Canada high-speed rail
https://www.thestar.com/business/2017/07/24/infrastructure-bank-studied-as-funding-option-for-us-canada-high-speed-rail.html

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Shut It Down Already

Why quote that bit? The interesting part is that only 6.3% chose Vancouver – about the same as Boston.

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Combat roach

Locust knows it is already filled with their own crap so they prefer the other places to keep balance.

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Shut It Down Already

Just the sort of dim-witted deflection we’ve come to expect from you.

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Combat roach

Locusts are forming a national corridor across the North American west coast.

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bullwhip29

uhh, no $hit sherlock… after completing game of “connect the dots”, they’ll move on to “fill in the blanks” and ultimately “paint by numbers” and “snakes and ladders”

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Oracle

Completed BS Fake news.

Canada gets more immigrants from China than the the USA.

Fake news.

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Oracle

Meaning USA gets less from China than Canada does. Numbers don’t add up.

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Shut It Down Already

Where are your numbers? The US gets 3x what Canada does.

http://www.migrationpolicy.org/programs/data-hub/charts/immigrant-and-emigrant-populations-country-origin-and-destination

Fake Oracle.

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southseacompany

“Fed keeps key interest rate unchanged amid low inflation” CBC

http://www.cbc.ca/news/business/federal-reserve-rate-decision-1.4222634

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Oracle

Looks like the NDP gov is about to fall.

If they would have stuck by their election platform, then everything would have been ok. Such morons.

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Oracle

Green leader put out an official statement basically saying that NDP has violated their stance on trans mountain. —Eby at fault here.

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Dave

More like reality is at fault for hitting the NDP in the head.

The Greens will do nothing but yap, yap, yap. They are in this for electoral reform and will hold their nose until then. They won’t pull the plug until that time. If the NDP are smart, they string them along and don’t deliver because it’s not actually in their interest to do so. It feels that way after being in the doghouse for 16 years, but it’s not the reality. In time, the Province would return to a two party system and swing back and forth from Liberal to NDP. Why give up that power to a vocal minority unless you’re world class stupid?

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Best place on meth

As usual, your sources and links are impeccable.

The NDP doesn’t need to risk a costly lawsuit to BC taxpayers, they can just back and let First Nations tie up the pipeline in court forever.

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southseacompany

“CMHC keeps red flag hoisted on housing as new problems emerge”, Financial Post

http://business.financialpost.com/real-estate/cmhc-keeps-red-flag-hoisted-on-housing-market-as-new-problems-emerge/wcm/588d9e75-4ce4-48ed-9f09-f9fd02d3ef3f

“Canada’s housing agency singles out five markets as trouble zones, despite measures to cool overheating”

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Combat roach

Can foreign students and young housewives fill the gap?

“Not Enough Young Canadians To Support High House Prices: CMHC”

http://m.huffingtonpost.ca/2017/07/26/cmhc-housing-market-assessment-not-enough-young-canadians_a_23049544/

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Just me

Yes they can. At least in certain areas of Vancouver.

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Just me

CRA takes developers to court, seeks information on pre-sale condo flippers

http://www.cbc.ca/news/canada/british-columbia/cra-takes-developers-to-court-seeks-information-on-pre-sale-condo-flippers-1.4223488

The change of regime is slowly starting to payoff?

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YVR

Are your really this dumb or do you just play a dumb guy online?

The Minister of National Revenue is heading to court…

The CRA is federal and this action was brought on by the federal government which started long before the provincial election.

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CRA222

He could have been referring from Harper to Trudeau….God knows it takes years for anything for governments to implement after they take office

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Just me

Federal competencies are not necessarily a sign of enforcement due to Federal motives. And yes, regime changes take place at all levels.
In this case I suspect that local input might also help.

Just for the record, Christy Clark and her government were on record saying that It was not a responsibility of her government to aid CRA enforcement. Things may have changed materially with the new government.

Political will matters.

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Shut It Down Already

Or you could have some class and admit you were mistaken.

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Best place on meth

“The federal government filed two applications in Vancouver’s federal court office on June 29”

June 29 was long before the provincial election, was it?

Score one for the guy you called “dumb”.

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YVR

They filed after the developer refused to give the buyers names. I suspect that would have been 6 months prior at least. I guess you can share the dunce cap with JM.

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YVR

“build 114,000 units of affordable market rental, non-profit,
co-op, supported social housing”

This one is my favorites of the useless NDP programs. Where does the land come from to build this housing? It is either acquired at tax payer expense to they forfeit the sale revenue if they government already owns it. Who pays for the construction of this housing? The answer to both is these is the tax payer. Mainly those that pay income taxes. Who is most likely to get into this housing 10 years away when it is done? The poor. Fair enough the poor need housing but for the average person this amounts to higher taxes to pay for housing for the poor. Nothing that will help the average hard working person. It will be filled with Filipino nanny’s and elderly who didn’t save for retirement.

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Shut It Down Already

They’re simply planning ahead for all the people who won’t have jobs after they’ve finished with the economy. I’m sure access to this housing will be means-tested, too, ensuring that there’s little incentive to re-enter the work force once you’ve scored cheap accommodation. All the while they’ll fleece the rest of us whilst using expressions such as “paying their fair share”.

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Whistler or Bust?

The G-DP won’t last a year and we’ll go back to a major Liberal majority.

Enjoy your time in the sun union hacks and commies cause its back to Siberia soon for you and your gang.

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history

Gender Parity at ICBC now!

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YVR

“ensuring that there’s little incentive to re-enter the work force once you’ve scored cheap accommodation.”

This is why the NDP always fail. Their programs are a disincentive to work. The less you work and earn the more you get. The more you work and earn the less you get and more you pay.

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Bestplaceonearth

They will buy land in the British properties and build affordable housing there.

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Best place on meth

“It is either acquired at tax payer expense to they forfeit the sale revenue if they government already owns it. ”

You already knew it was to be city or crown land used as it has been pointed out several times in the past, but you have conveniently forgotten already.

And why would the government ever want to sell the land as per your bizarre comment above? To make a few bucks in the short term and never have that land for public use again?

You don’t think very far ahead, approximately 10 minutes or so.

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YVR

The NDP has no land to do this. If they did the best thing the government can do is sell the land at an the current inflated prices and put the money to work. Of course if you build housing for the poor it is no longer public land. The public won’t be able to use it.

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YVR

Can anyone help me find the 2% foreign speculators tax, rescinding the interest free first time buyers loan program or any other initiative that will lower housing prices?

I like the renters rebate. That should help. Increase your taxes and then give it back to you. Unless you don’t pay taxes then you just get the rebate.

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Oracle

They’ve gone silent on the issue which means. It happening anytime soon.

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Oracle

Not*

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YVR

Relax Selena said they just got the file. Don’t worry she will let you know when they come up with a plan after summer vacation and studying it for a few years.

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Whistler or Bust?

Same old NDP.

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Best place on meth

The speculator tax will come under this area:

” Work with the Minister of Finance to address speculation, tax fraud and money laundering in the housing market.”

Did that help point you in the right direction?

Not that you have the patience to see what actually happens when the legislature reconvenes, you’d rather just “speculate”.

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Diadora

Why are so many corruption suspects hide in Canada? Heres another case: Mahmoud Khavari, had become one of Iran’s most wanted men, having left his position as the chairman of the country’s largest bank and fled to Canada amid a corruption scandal.
https://www.theglobeandmail.com/news/toronto/the-toronto-developer-the-iranian-fugitive-and-the-bitter-condo-feud/article30833853/

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history

Plenty of cheap air flights, loose borders, plenty of safe houses, plenty of houses to buy and hide in, easy e-money transfer, sympathetic bought and paid for media, free welfare, free healthcare.

Goo wants the debt pigger, and if he is a crook from Germany, Israel, Iran, USA, Qatar, or India or China, and every country inbetween, IT DONT matter…

…debt pigger rules

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paulb

New
210
Price Change
65
Sold
145
TI:10013

http://www.clivestevepaul.com

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Yikes

10 grand party

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rockerguy

Woohoo 10K! BTW everyone, the “inventory velocity” (change in velocity per time) is currently the highest since 2013 for this time of the year.

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Best place on meth

Took forever to break that 8K logjam, but it’s finally moving.

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history

“Work in partnership to develop a homelessness action plan to reduce the homeless population through permanent housing and services. As part of the plan, conduct a province-wide homelessness count.”

ive been homeless for years. Goo and their high wage ass sitters always want to count us. They count, and count.. stick a camera in our faces.. collect data, and more data…

worked hard today, and all week. Sitting in a pub now. This place used to be busy with the afterwork, working man.. place is empty. Noone has money for this kind of social relaxation anymore. Too busy making RE ends meet.

Hey goo, dont wory about me, im homeless true, but it’s your RE sick birds you gotta fix.

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patriotz

franko: ” Montney field in BC, one of the biggest on the continent is on the WEST side of the Rockies”

Montney is in the BC-Alberta Peace River country which is of course east of the Rockies.

http://www.news1130.com/2017/04/16/northeastern-b-c-towns-see-montney-natural-gas-drilling-recovery/

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franko

I corrected that on the previous page, and expected you to jump all over that. Actually, the Rockies have pretty much petered out a little farther south of the Montney field, and the Coast Range would be more of a challenge for the pipeline. I also mentioned that the field is about 400 miles from Kitimat. Obviously, snaking through the terrain would increase that distance, but nowhere near the thousands of miles through the Rockies that you had claimed.
So, it looks like both of us were somewhat off the mark.
Deal?

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patriotz

The covert purpose of the renters’ rebate is to report all landlords to CRA. Amateur landlords may not have much net rental income to evade taxes on in the first place, but the real jackpot will be going after them for capital gains.

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Oracle

Wrong. It’s the landlords benefits that will be affected.

Like child benefits, GIS benefits, MSP subsidy etc etc etc.

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YVR

“The covert purpose of the renters’ rebate is to report all landlords to CRA. ”

The rebate would be applied for similar to the home owners grant. Nothing to do with CRA and CRA is not involved. If CRA cared about rental income they could get suite info from the cities that license them and from peoples income tax returns which include their address. Clearly not a priority for CRA and this won’t change that. Nice spin on a useless program though.

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bullwhip29

CRA appears to be more concerned about tax evasion in this regard than they were before. the city wouldnt be able to provide “suite info” on renters living in the 1000’s of illegal units

at some point the various paths that the lenders, home insurers, utility co’s and the tax collectors currently use will intersect. by introducing such a rebate, connecting to dots will be much simpler and might even occur by accident. to say the very least a paper trail will be created and later retrieved should the home owner get audited

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YVR

The legal suites are public knowledge as are the owners of the buildings with those suites. It would take one CRA auditor like a month of work to send out a letter to each owner in BC asking them to clarify in a response if their suite is rented and if rental income was collected and declared. CRA has the addresses of anyone who filed a tax return so they know who lives in these buildings. Can you cite your claim CRA is more concerned with this now? I don’t see it.

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Oracle

CRA can’t touch the majority even if they are breaking laws.

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patriotz

“The rebate would be applied for similar to the home owners grant. ”

What source did you get this from? Oracle’s? Renters’ rebates are done on income tax returns on every province that has them (including Ontario).

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