We’re super-addicted to real estate fees

This is just kind of sad if it’s true, an analyst says that the associated fees for buying and selling real estate (commissions, taxes, legal costs and fees) make up a stunning 1.9% of GDP.

That’s more than agriculture, fishing, forestry and hunting combined.

Doyle points out that the U.S. was relying big time on home ownership transfer fees in 2005, when its real estate market peaked. But even then, those fees made up only about 1.5 per cent of U.S. GDP. Now, years after the U.S. housing market crash, transfer fees make up less than one per cent.

In Canada, upcoming data will likely show those fees have already started to fall, as the number of home sales across the country fell in June by the most in seven years.

Doyle says Canada’s increased reliance on real estate fees can be blamed on years of ultra-low interest rates, worsened during the oil price slump when the Bank of Canada cut rates even further.

“I think they felt that the lesser of two evils in that situation was to cut interest rates,” Doyle said.

But that fix has helped put Canada in another tricky situation, where the economy relies to an unusual extent on home transactions. That could have particularly negative consequences as the central bank begins to raise rates again.

“The drag on the economy that’s going to flow from [higher rates], I think, will prove to be much more severe than it’s been in the past,” Doyle said.

Read the full article here.

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VMD
Member

Buyer who walked away from real estate deal ordered to pay $360K
Would-be buyer ordered to pay the difference after house ultimately sells for 28% less

Mick Murphy
Guest
Mick Murphy

Pope ‘loves China’, Vatican official says on trip to China

http://www.reuters.com/article/us-china-vatican-idUSKBN1AK06K

Best place on meth
Member
Best place on meth

“Speaking in Beijing where he was attending an organ transplant conference,”

Oh, the irony.

Just me
Guest
Just me

Then I read this and I think….nah, it’s not so bad.

Vaughn Palmer: Bellringer uneasy with ‘cosy’ contracting under B.C. Liberals

http://vancouversun.com/opinion/columnists/vaughn-palmer-bellringer-uneasy-with-cosy-contracting-under-b-c-liberals

Oracle
Guest
Oracle

What bothers me is why the NDP don’t have emergency press conferences every 2 weeks on tV outlining the corruption.

You need the people to know.

Maybe they want to do the same?

Best place on meth
Member
Best place on meth

That’s the kind of corruption and tax-payer abuse Krusty practiced, perfected and executed over and over while she handed out contracts only to those who helped keep her in power, and she loved power more than anything.

YVR and Whistler, the big shot high earning taxpayers will defend her of course, while they whine about fast ferries until the day they die.

jb
Member
jb

Very quick reply from Selina R after I emailed asking about lack of NDP noise / action on RE.

“Carole James is working on those pieces. We will be acting on the speculation and money laundering. Please be patient as we get things rolling. There is much more to come .”

Best place on meth
Member
Best place on meth

She does love to say “pieces” a lot if you listen to her speak – a lot of pieces everywhere. It’s like a puzzle.

Probably a nervous thing considering what’s on her plate all of a sudden.

Now be patient you fuckers or I’m taking away your sugary drinks until you calm down.

paulb
Member

New
135
Price Change
55
Sold
135

TI:9690

http://www.clivestevepaul.com

Oracle
Guest
Oracle

Inventory heading way down. People realizing NDP will do nothing. Huge upward pressure in prices on low end.

Soon it will be impossible to get a condonfor even $600,000. Wow

Just me
Guest
Just me

People might think you are insane. But I don’t think you are off the mark by much.

While this happens, NDP ministers are on holiday with their families. Priorities first.

Selina, are you still alive?

Best place on meth
Member
Best place on meth

People don’t think he’s insane, they think he’s a shill trying to talk up his particle board shack in Surrey.

Why shouldn’t people be on their regularly scheduled holidays – is the Cuban missile crisis back?

Oracle
Guest
Oracle

Good grief. Youre so lost.

history
Guest
history

The Canadian RE turmoil is driven from foreign lust, that it is or isnt, does not seek explaining.

Who can argue the merrits of our beautiful country and what we have done to make it spectacular for the third world speculator? They come hear and make it their candy store

.. we present them with a gift, they suck and swallow hard.

then tell us to fuck off, and the INVOICE pays the lawyer back home.

Oracle
Guest
Oracle

NDP…..MIA on housing…hahaha

Part of me knew these guys were fake. These guys are setting themselves up to loot the public purse i think.

Screwed
Guest
Screwed

What are you guys talking about? Did they announce something?

Best place on meth
Member
Best place on meth

No they didn’t, and that’s why the mass hysteria among the ADHD children here.

They can’t believe the NDP and their new Housing Minister are taking some time to put together the best legislation they possibly can.

All this should have been announced and implemented on day 1, apparently.

Well, to be fair, some of the posters here are permanent NDP haters and just making shit up.

oncebittwiceshy
Guest
oncebittwiceshy

Actually, my friend, I don’t think they are of any political bent. They are “bulls” that are very concerned that the NDP is going to pull the carpet out from underneath their feet.

If they say the NDP isn’t going to do anything then maybe, just maybe, dreams will come true.

Just me
Guest
Just me

Election was on May 9. Today is August 3. Even allowing for the indecent delaying by Christy Clark, it has been 3 months already. Shall we wait til the end of the year? Maybe longer?

I hope you are right in your defence of the NDP.

Oracle
Guest
Oracle

NDP could have ‘talked’ down the market. They didn’t.

Mark carney and others used to talk down things. The BoC influences the dollar by talk. Why can’t the NDP say ‘we are going to announce some major reforms to housing this fall’.

Why?

IMO, because they going to do squat.

Specuskeptic
Member

I’m going to wait for the legislature to sit at least FFS. You know.. process. Get back on that ritalin.

Best place on meth
Member
Best place on meth

I’m not so much defending the NDP as I am mocking the hyper-active children who have zero patience.

Let them figure out what they want to do and then judge, for fucks sakes.

Just me
Guest
Just me

I just had final confirmation our prime minister is an unadulterated, indefensible liar.

http://www.straight.com/news/944596/watch-prime-minister-justin-trudeaus-response-direct-question-about-vancouvers-housing

What a bunch of nonsense, while inviting the Chinese to buy more.
Federals say they have a blunt instrument, City says they don’t have enough resources, Province says it is a municipal duty.

Who the hell is in charge of housing policy in this banana republic called Canada

Owen
Member
Owen

Let’s score them all on housing policies:
Feds:
+ Tightened CMHC regs
+ Forcing lenders to take on more risk themselves
+ Deficit spending
+ Increased social housing spending
+ More money to low-moderate income families (Child Tax Benefit)
+ Higher taxes on wealthy (i.e. less money for real estate speculation)
+ OSFI regs – pending
+ CRA crackdown on flipping, withholding taxes – pending
– Somewhat higher immigration
– more temp visas?

Provincial:
+ Foreign Buyer Tax
– Home Loan Program
– I hear crickets

City:
+ Empty Homes Tax
– Actively rejecting reasonable development in favour of NIMBYs / inadequate zoning response to high immigration
– Require rezoning applications which require expensive CAC fee payoffs
– Long permitting wait times
– Prefer demovictions to SFH rezonings?

Unfair? What am I missing?

YVR
Guest
YVR

The housing bubble is federal responsibility. Sure the province and cities can help mitigate it but the Feds are in control. Since Trudeau was elected we saw the largest run up in prices over this bubble. Toronto went up like 45% in 18 months. until the Prov gov stepped in. Vancouver went parabolic even with the BC gov stepping in with the tax. This is On Trudeau more than anyone.

Owen
Member
Owen

I think the biggest difference of opinion comes down to immigration policy. If you take high migration for granted, I don’t see how the Feds are any more responsible for the crisis than any other level of government, and they have done a lot more to fight it, as far as I can tell and admittedly only because other levels have done so very little.

YVR
Guest
YVR

I bet you voted for Junior Trudeau just like you voted for the NDP. How did that work out? Change does not always mean change for the better.

Combat roach
Guest
Combat roach

Seriously, does it matter who do you vote for with the current political offerings ranging from corrupted criminals to enthusiastic but weird narcissists. I guess all you do at the moment – you’re voting for a minor freak

Just me
Guest
Just me

I regret neither. Harper and Christy Clark screwed up spectacularly and needed to be booted.
This does not make me blind to the failings of the new guys. Unlike you, I try to use my brain rather than ideology.

patriotz
Member

“Province says it is a municipal duty. ”

You mean the Province newspaper? Or a private citizen named Christy? Could you cool it a bit and stick to the facts?

I’ve said previously that both the provincial and federal governments (individually) have ample powers to bring prices down.

Just me
Guest
Just me

I am no fan of Christy Clark, that is well know. However, the sudden caution of the NDP with regard to the housing situation infuriates me. What is there to study? Do we need further evidence that foreign capital and local speculation play a critical role? What are we going to do about it? Do we really need to review, for example, the help-to-buy that Clark introduced or should we just scrap it? What shall we review about the 2% income tax proposed by UBC and SFU academics? Didn’t the academics provide a compelling case?

These are time-wasting tactics. I fear these NDP politicians will end up with a bunch of nothing, just like the previous ones. Are you more optimistic?

Shut It Down Already
Guest
Shut It Down Already
The study was already done, and the results were soundly ignored by the very same people who now insist that some sort of study is urgently needed. Ontario conducted its own study, releasing the results early last month. The conclusions were the same. Even the president of the Toronto Real Estate Board states that foreigners weren’t the driver on the way up and they’re not the current driver on the way down. Additionally, we have numerous statistics on how indebted Canadians are and how little they’re saving both in general and for retirement via registered accounts. We know how concerned people are about large unanticipated expenses and we know it’s because they cannot afford them. Real estate bubbles lead to misallocation of capital, and the number of indications of this happening should be alarming. The only people still blaming foreigners… Read more »
Just me
Guest
Just me

This is definitely NOT my reading of the study of the UBC and SFU academics, and of the interviews they gave.
It is clear that the extra taxation for non-income payers is targeted to foreigners moving their wealth to Vancouver. You should go and read it some time.

Shut It Down Already
Guest
Shut It Down Already

Canadians are simply too busy gorging themselves at the credit trough for any one of them to consider a request that it be taken away. Foreign influence is slight at best, same as it has been in other historical bubbles. The stats tell us this is a fact, whereas your ramblings about capital flows have no predictive powers.

Just me
Guest
Just me

You should go fir a walk around Dunbar and King Ed. It’s like living in Mainland China.

But, whatever you say……

Shut It Down Already
Guest
Shut It Down Already

What a ridiculous comment.

Just me
Guest
Just me

Perhaps. But your incipit was so stupid it deserved a cheap shot.

Shut It Down Already
Guest
Shut It Down Already

So stupid but yet also somehow supported by evidence. Sorry that bothers you so much.

Just me
Guest
Just me

Home made evidence, reading only what you like.

Oracle
Guest
Oracle

Memo to Just Me: The world is corrupt. Getting more so by the day. Lol Get used to it.

Whistler or Bust?
Guest
Whistler or Bust?

Same old NDP.

Wow that didn’t take long.

Sadly, the only positive of them getting in was that they were going to clean up housing.

Once thing they won’t reneg on is higher taxes!

history
Guest
history

Dippers keep taxes low and BOC raise interest rates.

September 6th, next scheduled announcement.

Everyone know taxes dont work, loophole avoidance on steroids.

Dippers learn from Europe, when it comes to housing …
article is a few years old, but solutions are ethical, unlike Krusty crook
http://www.vancouversun.com/business/vancouver+grapples+with+housing+crisis+europe+tackled+vacant+homes/11586630/story.html

Abdul Lahazi
Guest
Abdul Lahazi

Buyer who walked away from real estate deal ordered to pay $360K:

http://www.cbc.ca/news/canada/british-columbia/buyer-who-walked-away-from-real-estate-deal-ordered-to-pay-360k-1.4232844

The purchaser would have been better off to complete the sale. At least they would have an overpriced house to show for it.

Oracle
Guest
Oracle

Good luck collecting….sensational news articles.

YVR
Guest
YVR

Default judgements. Like taking candy from a baby. I love sueing people who don’t show up to court. Once you have the judgement you have 10 years to collect. You can sieze any asset, garnish wages and bank accounts, put leins on property and have a court ordered sale of the property. Unless the defentant is broke, with no assets or cash and unemployeed for the next 10 years they will pay. Poor Jasdeep didn’t educate himself on Canadian law.

Doomcouver
Member
Doomcouver

Wow, almost 1 mil for a modest rancher in Newton. That’s at least 3 or 4 times overvalued in my opinion. I wonder if it has any authentic Newton bullet holes in the windows yet?

Oracle
Guest
Oracle

Your opinion doesn’t matter. Having an attitude like that may mean pricing yourself out of a condo for life in Newton.

history
Guest
history

“Our client is applying to set aside the default judgment, and he wants his day in court to be heard on the merits,” said Jasdeep Aujla.

patriotz
Member

“Default judgment” means he was given his day in court and didn’t show up.

history
Guest
history

kuwl, you are good for some things, A glossary of cAnadian legal terms to get us truth the next ten years of navel gazing Education.. whooops.. business opportunity thread rears its ugly toilet.
… the ultimate question for a migrant… How Do I Make Canada Cleaner??

answer… you cant

Shut It Down Already
Guest
Shut It Down Already

It explained it in the article. I guess neither of you read it.

Shut It Down Already
Guest
Shut It Down Already

Surely they didn’t cut the price and cash changed hands overseas – right, Oracle?!?

history
Guest
history

extreme Minimum payment addiction

“In the face of historically low interest rates, many people have become extremely comfortable only making the minimum payments on their debt. If Canadians want to weather the coming storm, however, they are going to want to start paying down the principal value of their loans, credit cards and (if possible) their mortgages in an effort to reduce household financial stress.”

http://mnpdebt.ca/en/blog/higher-interest-rates-force-albertans-to-rethink-debt

Doomcouver
Member
Doomcouver

If debtors are complaining about 1/4 of a point of interest increase we are definitely screwed. Historically BoC interest rates are about 3 to 5 percentage points higher than now. If anyone is deep in debt I would definitely recommend they get to a credit councilor now and file a credit proposal. Once the waves of over indebted Canadians start defaulting, banks will be less likely to accept a credit proposal and more likely to force you into bankruptcy.

Just me
Guest
Just me

Hopefully the BoC will not step in and lower rates again, citing credit chaos as a motivation.
We need a BoC governor who can show some balls and take on the crisis head on. I doubt we have that right now. Normalizing this situation will be hard.

Best place on meth
Member
Best place on meth

Our current BoC governor has agreed to become gender neutral at the request of the PM.

Just me
Guest
Just me

Here is the enduring cause of our problems.

Chinese Wealth Manager Plans Branches in Australia and Canada

https://www.bloomberg.com/news/articles/2017-08-03/china-millionaires-in-jeans-spur-wealth-manager-s-overseas-push

Abdul Lahazi
Guest
Abdul Lahazi

“One of Noah’s fund products invested about 500 million yuan ($74 million) in client funds in account receivables related to Huishan, which missed payment around the end of March”.

Well if they make some more of these types of “investments” there won’t be any money left to worry about.

Just me
Guest
Just me

That’s why they might target Vancouver RE. And they will, you can bet on it.

Just me
Guest
Just me
A few excerpts. Even as China clamps down on large overseas corporate acquisitions, Noah Holdings believes that the revenue earned by medium-sized companies outside China will support a substantial part of its overseas growth. …I met many low-profile entrepreneurs who wore T-shirts and jeans and couldn’t speak English. When they told me they had hundreds of millions of dollars overseas because of their businesses outside China, I was really surprised. “A lot of customers have come to us, saying we have families in Vancouver and Australia and can you serve them?” Lam said. For overseas investment, Noah takes money that has already been earned outside China, not money from within the country. About 56 percent of high-net-worth investors surveyed had investments outside China, compared with 19 percent in 2011, according to a report released in June by China Merchants Bank… Read more »
BubbleTea
Guest

Gregor Robertson: “Many developers market their product overseas as well as locally. There’s certainly some questions about real estate regulations and how much insider trading happens within buildings that don’t come available to the general public.”
http://www.metronews.ca/news/vancouver/2017/08/02/vancouver-mayor-calls-on-province-to-regulate-condo-presales.html
You had 9 years to do something about it…. must be an election coming up.

patriotz
Member

BC cities have no control over condo marketing or sales. You know who does.

franko
Member
franko

Mrs. Robinson?

Best place on meth
Member
Best place on meth

Jesus loves you more than you will know….

Just me
Guest
Just me

Who does? Enlighten us, please. If you want to say the Province, your beloved NDP is right there. And it is showing it is in nohurry to rock the boat.

YVR
Guest
YVR

LOL. You’re NDP? You’ve been pumping them for at least the past year. At least Patriotz is on the payroll. You got scammed.

Just me
Guest
Just me

He is a joke. The NPA are even more in cahoots with developers. Who is one to vote?

Hyper-mega-Bull
Member
Hyper-mega-Bull

Grammys cleans up act in bid to enter Chinese market…

Only promote artists with ‘positive and healthy’ image…

http://news.trust.org/item/20170803114640-dbr95

Abdul Lahazi
Guest
Abdul Lahazi

Toronto home sales tank 40 per cent, prices down nearly $175,000 since April:

https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=TB87000&mobile=false

Same thing is happening here but it is under reported by the media.

Oracle
Guest
Oracle

Prices are at March 2017 level.

Hardly news.

Combat roach
Guest
Combat roach
Combat roach
Guest
Combat roach
Doomcouver
Member
Doomcouver

The sales mix is different in Vancouver. The dumb locals are continuing to devour condo inventory, while the top end of the market is imploding due to lack of foreign buyers. This is making the market seem healthy on paper. It seems likely however as the high end of the market completely crashes it will start smashing into the lower rungs of the property ladder, and may create a cascading collapse on the way down. There’s panic starting to set in in Toronto, there is no panic yet in Vancouver but it seems close. We’ll see…

Just me
Guest
Just me

Condo sales through the roof were the parting gift of Christy Clark to developers and marketers of RE. That is now the main economy in our city. Bob Rennie and his ilk rule the province.

Oracle
Guest
Oracle

Trump wants to cut immigration to 500,000.

Thats the equivalent of 60,000 here in Canada with no Supervisa’s, 10 yr visitor visas, or floodgate of foreign students. What an effect that would have on vancouver Real Estate.

Need Populism here!

http://www.washingtonexaminer.com/trump-goes-big-on-immigration/article/2630496

And also, thousands crossing the border here illegally because Trudeau welcomes them. Wait until Quebekkers turn…

http://montrealgazette.com/news/local-news/how-to-help-refugees-and-asylum-seekers-coming-to-montreal

Best place on meth
Member
Best place on meth

Trumps war on china begins Friday.

To anyone who doubted him, fuck you.

And as always, fuck china!!!

https://www.cnbc.com/2017/08/02/trump-set-for-friday-speech-to-sign-memo-on-chinese-intellectual-property-and-trade-practices.html

Owen
Member
Owen

I’m sure he’ll unleash a truly devastating tweetstorm. Not even The Great Firewall, nor grammar and spelling conventions will be able to stop it.

Just me
Guest
Just me

I quite liked this comment as well:

As the Vancouver housing graph at left clearly shows, the market suddenly took off in 2002…prices doubling by 2006. The reason for this was that border security resources were taken from RCMP units dealing with money laundering after 9/11. (google ‘kim marsh rcmp 9/11) I would suggest that a housing market won’t increase 500% in 15 years because of “poor management and growth” but it certainly will if you put out the welcome mat for foreign criminals looking for a safe haven for their ill gotten gains.

patriotz
Member

“the market suddenly took off in 2002…prices doubling by 2006”

Just like most US markets.

Just me
Guest
Just me

Attention was shifted away from money laundering also there. The difference is that eventually they got back o checking. We did not.
If they catch you with 5 million dollars at the airport in YVR, you pay a fine and get your money back. If they catch you in the US you lose the money. That is a big difference.
Canada is a joke for money laundering.

Combat roach
Guest
Combat roach

Now wait for usual imbecile to tell you it has nothing to do with locusts it is locals who like to launder money for fun.

Shut It Down Already
Guest
Shut It Down Already

Nothing to do with 0/40 mortgages then, you racist prick?

Oracle
Guest
Oracle

Are you fucking kidding? It has everything to do with illegal chinese money.

People breaking Chinese outflow laws should be hanged. Ask Xi.

Best place on meth
Member
Best place on meth

Xi should also be hanged, but saved for last.

Best place on meth
Member
Best place on meth

I laundered money once, but it was purely by accident.

Also, it was only a $10 bill.

Shut It Down Already
Guest
Shut It Down Already

Those crazy Norwegians, eh?

https://www.theguardian.com/world/2017/aug/02/bus-seats-mistaken-burqas-anti-immigrant-group-norwegian

This is a great example of people only seeing what they want to see. You know, like the morons here who go into a fit every time they see a Lamborghini.

Abdul Lahazi
Guest
Abdul Lahazi

Only when the Lambo is driven by a chineze teenager with no visible means of support and smoking a Camel.

Just me
Guest
Just me

You had too much to drink? What are you on about?
Sometimes Inwonder if you hear voices in your head and then write your posts here.

Shut It Down Already
Guest
Shut It Down Already

I’m not surprised it went over your head. Carry on.

Just me
Guest
Just me
Best place on meth
Member
Best place on meth

Mixed results because the tax was working so well that Krusty had to quickly implement exemptions followed by a new welfare for first time buyers program.

Just me
Guest
Just me
I loved this in the comment section: for what it’s worth, Hong Kong has had a foreign buyer’s tax at 15% for decades and they increased it to 30% a couple months before ours was imposed. Like here it’s primarily aimed at Mainland Chinese buyers and the provincial government would do well to look at what HK does to avoid tax evasion by use of presale contracts, proxy buyers and other tax avoidance schemes. Governments impose taxes for 3 reasons (1) to raise $, (2) to punish behaviour deemed anti-social and (3) to encourage investment in areas where new investment is desired. While being thoroughly capitalistic I do think residential real estate is not just any old good – and government policy needs to be oriented towards promoting homes for people to live in and punishing owners who buy for… Read more »
Oracle
Guest
Oracle

NDP is a bunch of assholes. Write to them and tell them to fuck off after supporting them.

Oracle
Guest
Oracle

Went by he tent city in north Surrey. People begging. Told them to steal if it meant putting food in themselves.

Stupid not too.

off topic
Guest

You should have bought 15 minutes of fun from a white girl for a case of beer.

history
Guest
history

the tent cities on Vcr Isl are mostly inhabited by Native people. I visited one a few monts ago. At the end of the day, the whole scheme was an exercise in employing lawyers, and padding lawyer invoices.

kabloona
Member
kabloona

Christy Clark says the housing problem was not her fault…it was because of the Mayors….

🙂

http://www.peninsulanewsreview.com/news/video-i-am-done-with-public-life-says-christy-clark/

“…Clark also addressed what some critics have seen as her party’s failure in Metro Vancouver. The Liberals lost seats throughout Surrey in May, as the NDP campaigned hard on rental affordability, nixing bridge tolls and reconsidering the Massey Bridge.
“There are only two things that the government can do to affect housing affordability in the Lower Mainland,” Clark said. “One is to get the mayors to build more houses. The second is to slow the economy down so that people stop coming to the Lower Mainland and buying houses.”

😉

Doomcouver
Member
Doomcouver

Clark is either disingenuous or stupid, maybe both. There are a ton of ways to curb runaway house price growth. A punitive anti-speculation tax would be a good start. I guess her finance minister told her that would negatively affect his 7 houses he has as investments.

Best place on meth
Member
Best place on meth

“only two things that the government can do to affect housing affordability”

Holy fuck.

There are only two things she could possibly be, a moron or a liar.

Owen
Member
Owen

She’s over-stating her case but she’s not really wrong either. I mean, she’s ignoring her own Foreign Buyer Tax and the better proposal for a property surtax with income tax credited against it, but really prices are high mostly because permitting is constrained by zoning and process, and affordable building is basically illegal. Right now I’m not sure the construction industry can build any faster, but if they would have been allowed to ramp up supply years ago, we would not be in this quagmire.

patriotz
Member

Christy is dead wrong, more that that she knows it. The provincial government has the power to take RE prices down as much as it wants. Here’s a real life example. The reason governments don’t take truly effective measures is that they’re afraid they might work.

Ontario tried a speculation tax on property, and the market ‘collapsed overnight’

Abdul Lahazi
Guest
Abdul Lahazi

“I was 27 years old and I owned 53 houses the day (speculation tax) came in.”

And he still doesn’t understand why this tax was brought in? Newsflash: It was because of 27 year old’s speculatively owning 53 houses…

Oracle
Guest
Oracle

Supply? LOL

Just me
Guest
Just me

Zoning issues exist also in Seattle. Their economy is an order of magnitude better than ours. House prices are half what we have here. How is Christy Clark right? In which fantasy world?
The benchmark just passed 1 million dollars. What economy is she on about?

Owen
Member
Owen

Seattle’s a natural comparison because of proximity but maybe not the most apt. Is their zoning really as restrictive as Vancouver? Have they had the same population/household formation pressures? One obvious difference is that the oil bust had a much larger effect on Canada as a whole than the US, and the US had a huge housing bubble in ’08; Seattle may yet be on its way to the same place as Vancouver.

Just me
Guest
Just me

So says the woman who chose to sell the city to Chinese money. The economy of Vancouver is apparently so good that we have prices higher than LA, Seattle and so on.

BS all the way. Liars will lie.

franko
Member
franko

Has anyone even heard of Selina Robinson before her appointment?
Maybe Horgan thought he was getting Svend.

CBM999
Guest
CBM999

It was an Employment Equity appointment to ensure that his cabinet was 50% women. She isn’t very qualified compared to other candidates, but that’s how the left wing works.

Oracle
Guest
Oracle

No such thing as left wing right wing. Only you moron sheep believe in such concepts.

franko
Member
franko

Laugh about it shout about it, when you’ve got to choose, every way you look at it you lose.

paulb
Member

New
189
Price Change
61
Sold
144
TI:9742

http://www.clivestevepaul.com

Owen
Member
Owen

Wow, that 10,000 party didn’t last long at all.

Oracle
Guest
Oracle

Inventory going down on NDP sitting on their behinds doing nada.

Best place on meth
Member
Best place on meth

Actually it went down due to month end expired listings.

Almost everyone here knows this.

YVR
Guest
YVR

The whole NDP affordable housing thing was down the drain once Selena was given the job of housing minister. Horgan put in the no name to take the fall. No one else would have taken the job knowing the NDP was going to renege on EVERY productive housing initiative they promissed. At least we have the incompetent NDP economic plan which may have the same effect and kill housing anyway. Man I would sure would feel foolish if I voted NDP. Maybe people around here are too young to remember what scammers the NDP are. I bet you never forget and get sucked in again.

Oracle
Guest
Oracle

YVR. You are correct.

But it would be better if the NDP just said they weren’t going to do anything.

Better for people to make decisions.

Now, NDP are far worse than Liberals. If Libes won, I would have bought right away.

Shut It Down Already
Guest
Shut It Down Already

Haha, now you want us to believe that you’re waiting for the right time to by despite ranting here all day about prices going to the moon? And people say I’m the realtor.

Clown.

Oracle
Guest
Oracle

Go situate yourself on one of those artificial islands in the south China sea so Trump can blow you up.

Oracle
Guest
Oracle

Don’t get me wrong. I’m. Or priced out. Putting half million down just upsets me.

Fuck the NDP

Oracle
Guest
Oracle

Not*

Just me
Guest
Just me

What worries me most about Selina Robinson is that she is an homeowner (twice over). And homeowners in this city seems oblisvious to the issue of housing: in fact, they secretly all think that prices should NOT adjust down. When I saw her appointment, my heart dropped. It is a sign the will to impact this market significantly might not be there.

Oracle
Guest
Oracle

No offence Just me but you are sick a sheep. Harry Mains MLA brother builds houses for a living.

Many there’s too.

Snap out of it.

Shut It Down Already
Guest
Shut It Down Already

YVR, shhhhhhh, she’s only just been given the file that explains what platform the party campaigned on.

Combat roach
Guest
Combat roach

Election was choice between two evils where some voters naturally became tired of the current one, which over many years while in power morphed into ugly monster.

Just me
Guest
Just me

Why would you feel foolish voting NDP? The BC Libs would have been even more pro-housing lobby. This will trigger at least a renegotiation between factions in that party.
Plus, we are not done yet with the NDP: they will realize that they were put there to take action on housing. And I don’t mean social housing only!

Oracle
Guest
Oracle

Don’t be a fool.

Do some research on who MLA’s immediate family is.