Friday Free-for-all! September 29 2017

It’s that time of the week again, time for another Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread for the weekend, here are a few recent links to kick off the chat:

what happening with housing policy?

what could be done for housing?

20% of homeless have jobs

risk of housing bubble

lose 25% of buying power?

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an amazing weekend!

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Oracle
Guest
Oracle
Lots of denial and resentment on this blog. The legislature will take their christmas break in about 2 months and then resume sitting in late January. The February budget is about a little over 4 months away and chances are there will be nothing the NDP campaigned on in their housing platform. Then, where does it leave the situation? They will say that they have to wait for the results of the Proportional Repres. vote. DO NOT LET THESE LIARS WIN THAT! Otherwise it is game over with the Liberals and NDP back room boys holding power forever. Wait for a rise of a new grassroots political party. And Meth: Think this through while keeping your emotions in check. I don’t like the NDP because they’ve solidified my suspicions that they are run by Liberals in the backrooms. Rest is… Read more »
Just me
Guest
Just me
Whale’ gamblers identified by BCLC also placed big bets on B.C. real estate http://vancouversun.com/news/local-news/whale-gamblers-ided-by-bclc-also-placed-big-bets-on-b-c-real-estate Information from B.C. civil court cases, usually filed when a loan was not repaid, claim that Jin made big loans to some casino gamblers to fund B.C. real estate development. In other cases, filings allege, loans were made by Jin to BCLC-identified VIPs for them to make mortgage payments on Vancouver homes. Another common transaction for Jin and these Chinese gamblers, according to civil filings, was for Jin to give them massive short-term loans, secured against their Vancouver property holdings. The most stunning alleged example of this is the civil claim filed by Jin against gambler Jia Gui Gao. Gao was identified in BCLC’s probe of Jin’s casino cash delivery network as logging 28 suspicious casino transactions, documents obtained by Postmedia show. Gao has owned at… Read more »
Just me
Guest
Just me
Unbelievable. This man was a high street bank. Another Paul Jin lawsuit that alleges unpaid debts says that in 2013 a borrower who owns a Point Grey home, now valued at about $7 million, borrowed $892,000 to “purchase a property … (and that, Jin) transferred $500,000 into the bank account of the defendant. The balance of the loan was paid to the defendant by the plaintiff in cash.” The loan was recorded with a promissory note that was secured by the defendant’s “primary residential property,” on Sasamat Place, Jin’s claim states. Another case shows that Jin tried to locate a Chinese man who, Jin alleged, had borrowed $750,000 from him for a one-month term, with the mortgage secured by the man’s Arbutus Ridge property in Vancouver. Jin’s filing says the home was left vacant, and the man refused to repay… Read more »
patriotz
Member

“The loan was recorded with a promissory note that was secured by the defendant’s “primary residential property,” on Sasamat Place, Jin’s claim states.”

No interest in or charge against RE in BC is legally enforceable unless registered against the title.
https://ltsa.ca/property-information/what-information-title

Just me
Guest
Just me

If so, the courts should take care of this guy’s claims, and dispose of them in short order.
Obviously this is not happening, otherwise (1) he would not seek recourse with such regularity, (2) he would be out of business.
Clearly this Chinese criminal has ways to enforce these deeds.

For the record, he literally launders hundreds of millions every year. Hundreds. This is the kind of money that changes prices for all residents.

This morning I woke up to a series of articles finally acknowledging how we have collectively, as a society, decided to solve Vancouver to the Chinese.

This should be sobering and depressing news to all of us (but those few bent crooks who profited from it).

Whistler or Bust?
Guest
Whistler or Bust?

So how are the people going to respond? What can be done?

Just me
Guest
Just me

That is the right question.
We need to push politicians, of whatever party and color, to put an end to this and restrain the activities of the mainland Chinese.
Not easy, but not impossible either. I would vote for any party (any!) that credibly committed to put in place curbs to malfeasance and money laundering.
Sadly, this rules out the BC Libs in their current shape. If they reform, I would certainly consider voting for them.
But people have to wake up and discuss this openly. It is about money, not race.

BubbleTea
Guest
BubbleTea

Sadly it was the liberals that ignored it so I debt while they are in opposition, they will pressure the NDP into doing anything about it. Only hope is the people getting so outraged that something will be done. With many thanks to Sam Cooper, Kathy Tomlinson and Ian Young who digs up these unbelievable stories.

Just me
Guest
Just me

Yes. These are serious voices that I hear in this debate, uncovering the malfeasance of the Chinese millionaire migrants.
Journalists like these force politicians to take action, as they make it untenable for them to do nothing.
I would add Douglas Todd to the list: he is one of the few people at the Van Sun who is willing to call a spade a spade. Certainly very different from the sliminess of Rob Shaw, Vaughn Palmer, who pretended for a long time that nothing bad was happening under the BC Libs.

BubbleTea
Guest
BubbleTea

This article shed a lot of light on a group that has been driving up the Vancouver real estates for everyone. Now the NDP and Ms Robinson can not hide and say everything is fine.

Just me
Guest
Just me

Agreed. Doing nothing is untenable. The pressure is building again.

Dave
Member

I heard Netflix was considering filming the second season of Ozark in Vancouver. But they backed out because it’s so easy to launder here that they could only dream up one episode.

Whistler or Bust?
Guest
Whistler or Bust?

On a non-political note my investment portfolio grew by 2.32% last month.

Kim
Guest
Kim

In capital gains only (unrealized), my investment portfolio gained 70K. Got several K in dividends as well. Got lucky with NVDA, bought 10K (CAD=USD) worth back in 2012, now worth about 186K (CAD).

Bag it and tag it
Member
Bag it and tag it

186K is financially free?

Doomcouver
Guest
Doomcouver

You’re wasting your time on stocks. Detached homes in Vancouver went up 63.4% over the last 3 years. I recommend you lever up and get with the program. It’s a one-way bet, what could go wrong?

Best place on meth
Member
Best place on meth

A friend of mine bought Bitcoin Investment trust GBTC a little over a year ago and sold it a week ago for a 900% profit.

I still think Bitcoin is bullshit but he’ll be retiring early.

Kim
Guest
Kim

I was financially free two years ago at 35. Own a Vancouver home but that’s not the reason I’m financially free.

Lost...but not leased
Guest
Lost...but not leased

Why are people surprised by Mayor Moonbeam and China…

Doesn’t he brag he is related to Norman Bethune..doctor to the Chinese Commies?

bullwhip29
Guest
bullwhip29

Young foreign workers pervade Vancouver’s hospitality sector
http://vancouversun.com/opinion/columnists/douglas-todd-young-visa-workers-reshaping-look-and-sounds-of-vancouvers-hospitality-sector

>>> how amusing that a certain group is all gung ho about acquiring a visa to get into the country as long it does not involve getting dirty or breaking a sweat to do so…

Best place on meth
Member
Best place on meth

Wow, bringing in a diverse range of people from all over the world who actually do real work.

What a novel concept, I seem to remember Canada being more like this in the past.

Just me
Guest
Just me

Yup. Diversity is great and our government should promote it more.
I would love an immigration system which tries to balance the inflows from different countries, and represents them more evenly, rather than incentivizing the movement of rich and corrupt millionaire migrants from a single country.
Hurrah for diversity!

Best place on meth
Member
Best place on meth

My sources tell me the stress test will be implemented at the end of October.

These are not the same fake sources used by Whoracle and his various aliases.

Just me
Guest
Just me

No link? No info on sources?

Best place on meth
Member
Best place on meth

A guy who hates Sam Cooper was mumbling something about it.

Used to be a bigshot federal minister, now he mostly trains monkeys and plays the race card.

Just me
Guest
Just me

I see. I think I know I can guess where you read it. How wonder how he would know about that stuff anyway.

No Money Down
Member
No Money Down

At least some banks are already applying a stress test. Was in Scotiabank yesterday are were pre-qualified at 4.84% for a low-ratio (uninsured) mortgage.

Whistler or Bust?
Guest
Whistler or Bust?

Wow your sources?

Do you even have a job? If so, a job that is not a teacher or a civil servant?

What kind of sources would a small thinking, anti-business racist like you have?

Best place on meth
Member
Best place on meth

Have another scotch, asshole.

Oracle
Guest
Oracle

Want to bet on that? $100 and I say that exact legislation won’t pass.

Best place on meth
Member
Best place on meth

Well you’re right that the legislation won’t pass, because implementing the stress test doesn’t require legislation.

This is another example of how you deliberately misdirect and misinform people.

Oracle
Guest
Oracle

Ok. Whatever you say. We will wait 20-30 days and see what they implement. We will discuss then.

Also, say NO to PR next year. Spread the word. NDP are liars in sheeps clothing.

Best place on meth
Member
Best place on meth

Yes to PR.

I never again want to see a majority government in this country.

Lost...but not leased
Guest
Lost...but not leased

Re: Sam Cooper expose’

My prediction is not much will happen…this is the tip of the iceberg…they do not want the Full Monty done..it could kill B.C .RE market.

Likely outcome is some scapegoats and fines…or disappear into black hole of dragged out court cases and appeals..these players can obviously afford good lawyers.

RCMP and Local Gov’ts are more focussed on distracted drivers and parking offences..

It would be useful for the public to understand the basics of money laundering……in my experience the majority of people have no clue of how it works and its impact.

BubbleTea
Guest
BubbleTea

Unfortunately I have to agree with you. The politicians in all levels could have rectified the situation but chose to look the other way, even the newly elected NDP. The only way for housing to go down in Vancouver is either a crash in China or an earthquake.

Lost...but not leased
Guest
Lost...but not leased
John Horgan and his shit eating grin.. Not a big fan of the BC Libs..but I’ve been through this Protest Vote scenario enough to realize ” the – devil- you- know versus the devil you don’t” between a rock and a hard place options or lack thereof. The NDP have been in “long enough” for one to realize that as opposed to past NDP Gov’ts which basically made stupid moves…Horgan is gonna lay low and have nothing stick..the agenda is NDP survival…at least he has learned from history. Examples :….the casinos need serious investigation, but ain’t gonna happen. …. Social Housing , moreso than before will attract NIMBYism, as well as too many in need. Some stats say over $250,000 to create each living unit. ….given those stupid class size ratios..will be hiring thousands more teachers…..between 3000-3500…YET the stats show… Read more »
Oracle
Guest
Oracle

Yup. I’m hearing that some NDP insiders were buying RE the last few months. They knew the inaction was coming.

KaChing!!

CRA221
Guest
CRA221

Looking at higher end rentals today in Vancouver. One place an obvious Mainlander was arguing with the apartment manager over a fee because his rent had been late the last two months. The manager told him that he’s lucky that he wasn’t evicted. Apparently he was having trouble getting the money from China. He came in with a stack of hundreds to pay the missing rent.

Opened my eyes because I didn’t think Mainlanders rented…….I wonder if this is a new trend and a sign the money is getting really difficult to take out of China now.

Best place on meth
Member
Best place on meth

No, I don’t think it’s a trend.

This guy’s just not very good at embezzling, extorting, skimming or taking bribes. So he ends up renting while his countrymen live in mansions.

patriotz
Member

In addition, a term can be included in the tenancy agreement requiring the tenant to pay a fee up to $25 when a cheque is returned or if the rent is paid late.

That’s it. Of course, that’s not to say that both the landlord and tenant knew this.
Rental guide page 17

Oracle
Guest
Oracle

Nobody can be that dull. Of course there more than many mainlanders. Some rent and others buy. More than enough for both sectors to handle.

Just me
Guest
Just me

Another fine article by Douglas Todd.

http://vancouversun.com/opinion/columnists/douglas-todd-debating-immigration-wisely-means-not-vilifying-opponents

Douglas Todd: How to debate immigration without distorting facts and foes

BubbleTea
Guest
BubbleTea

Fancy advertisements for so called “birthing hostels” are luring pregnant women women from China to give birth to their babies on Canadian soil, promising the mothers a convenient, comfortable and healthy way to give their children Canadian citizenship.
https://thinkpol.ca/2017/10/01/scores-of-bc-birthing-hostels-advertised-in-china/
I did not know birth tourism is legal.

Just me
Guest
Just me

It is legal to travel to Canada while pregnant.
The problem is the motive: that cannot be stablished at point of entry.

As usual, there is a large group of people scamming the system. And the Canadian politicians are terrified of saying anything that might be perceived as racist.
Sad state of affairs.

Oracle
Guest
Oracle

Too late. You guys have lost your Lower Mainland.

In 10 years, you will be looked at as outsiders with views like this. majority rules.

Oracle
Guest
Oracle

Another 1 million Asians here in the next 10 years will mean an end to european culture in the lower mainland.

And for those of you that like digging your own graves (argue with numbers), that 100,000 per year includes the temp immigration streams.

And for those that would move to valley and commute…good luck with that as it will be impossible in a few years.

Lost...but not leased
Guest
Lost...but not leased
Re: Birth Tourism Just another in a long list of SCAMS perpetrated by the “USUAL SUSPECTS”… As I noted in a previous post we are dealing with defineable groups from dog -eat- dog cultures ,life is cheap….and anything goes…and if they get caught they will relentlessly pursue another means to the same end. I personally know a Richmond resident who lived next door to a birth tourism house…..cars, suitcases and knocked up Chinese women come and go all the time. The routine appears to be that the women arrive in their last trimester….rent a room…needs catered to…baby born….now the meter starts on the end game of how this corruptly acquired citizenship manifests itself in the future. Tens of thousands of dollars are made from each client. ..hard to get exact figures in Canada.but in the US they charge $40,000 and… Read more »
best place on earth
Guest
best place on earth

bears have lost Canada too. congratulation to the federal NDP with new leader.

KickThemOut
Member
KickThemOut

You mean rejecting future taxpayers that we don’t need to pay school & all those other expenses for? IRA is getting quite a bit of money from these “Americans”.

Combat roach
Guest
Combat roach

Legal system is obsolete, writers couldn’t have anticipated locusts creativity and shamelessness neither in the wildest dreams. And yet fucks are destroying the country or whatever is left of it.

Oracle
Guest
Oracle

So I sent an email off to the NDP and got a response. They say they are looking at the situation closely. Morons.

Best place on meth
Member
Best place on meth

Paste the response here, liar.

Just me
Guest
Just me

Chinese property investment in Australia ‘hasn’t stopped’

http://www.theaustralian.com.au/business/property/chinese-property-investment-hasnt-stopped/news-story/eb791e1a12d0db81baee8bb16812a8f1

Chinese investment will continue to flow into Australia’s housing market despite tighter mainland capital restrictions, with real estate portal Juwai predicting levels will peak again despite a near-10 per cent fall in inquiries earlier this year.
“Sydney’s housing market has been overheating since the city became a target for Chinese investors several years ago,” UBS said.

Just me
Guest
Just me

The scale of this exodus of people and money out of China is historically unprecedented. Yet our politicians are, at best, in denial (and, at worst, aiding and abetting).
This torrent of money flows straight into the two largest English-speaking Canadian cities, and not much elsewhere. Hence life becomes unaffordable, services are stretched and cultural norms are subverted in a sudden and brutal way. There is no gradual and orderly transition.

Reality
Guest
Reality

They are not in denial.

You just don’t get it.

They are lying to people like you to get elected and are making big money.

Reality
Guest
Reality

Eby interview today basically sums it up. Wait until after proportional rep for anything to be done on housing.

Don’t believe the lies.

Bullwhip29
Guest
Bullwhip29
Doomcouver
Guest
Doomcouver

Didn’t they end stated income to try and make it more difficult for self-employed to get a mortgage?

Just me
Guest
Just me

This story is hilarious. It reminds me of that millionaire in North Van who used to go around collecting empty cans and bottles to make a few bucks.

http://www.dailymail.co.uk/news/article-4940252/Man-climbs-telephone-cable-dodge-hotel-bills.html

– A man in China climbed onto a telecommunication cable around 200 feet high
– It’s claimed he was attempting to avoid paying for his hotel room for one night
– However, he was trapped halfway and dangerously dangling above traffic

KickThemOut
Member
KickThemOut

Oracle: “Do you purposely go around to collect this kind of story? Racist!”

Oracle
Guest
Oracle

Even by the standards of an ‘anonymous’ blog, you are one weird dude.

Specuskeptic
Member

Pot, meet kettle. Sock puppets aren’t weird? Sheeesh….

BubbleTea
Guest
BubbleTea

British police get a new weapon to fight corruption.
Unexplained-wealth orders will make the seizing of such assets easier. Where there is a significant disparity between what an individual earns and what they own, be that a mansion in Mayfair or a fleet of Bugattis, law-enforcement officials will be able to apply to a judge for an order to demand evidence that such items were purchased legitimately.
https://www.economist.com/news/britain/21729774-foreign-crooks-will-find-it-harder-hang-their-london-mansions-and-sports-cars-british?fsrc=scn%2Ftw%2Fte%2Fbl%2Fed%2Fbritishpolicegetanewweapontofightcorruption
I hope David Eby is listening

Doomcouver
Guest
Doomcouver

If Eby can tack this onto BC’s civil forfeiture laws he would be my hero. I was disappointed he didn’t become our housing minister, but as the Attorney General he’s got a ton of power to go after all the foreign criminals laundering money through real estate in BC. I think we’re all hoping to see great things from him in the near future.

Joe Relevant
Guest
Joe Relevant

So now London home prices will fall?

KickThemOut
Member
KickThemOut

That’s only for locals, and money launderers like terrorist financing / drug trades / human slave trades /etc, not foreign wealth immigrants. Geez….

Oracle
Guest
Oracle

Breaking news:

CMHC going to relax mortgage requirements from New immigrants and Self-Employed.

More due for the red hot real estate market.

Further fuel is Eby’s about face this morning. Basically said shocking market is out of the question.

Hahaha

I’m telling you guys….recall campaign only way you’ll be heard.

CRA221
Guest
CRA221

Source links please?

Oracle
Guest
Oracle
BubbleTea
Guest
BubbleTea

For once I may agree with you about Eby and the NDP. The Vancouver housing bubble is so massive that it is political suicide to be the pin that pops the bubble. It is so massive that it will take down the economy for years to come.

Just me
Guest
Just me

‘Political will’ needed to stop money laundering in casinos, former investigator says. Buried 2016 report revealed potential money laundering at Lower Mainland casinos.

http://www.cbc.ca/news/canada/british-columbia/former-director-of-casino-investigations-political-will-1.4317138

Rampone said little has been accomplished in the last decade since he was working for the province. “It’s the same old story and obviously not much has been done to correct the matter,” he said. “First and foremost is the lack of political will,” Rampone told Rick Cluff, host of CBC’s The Early Edition.

“If you walked into any financial institutions with a duffel bag of money, never mind a million dollars or a hundred thousand dollars or whatever in cash, and said ‘I’m here to deposit this,’ you would not get very far,” he said. “Financial institutions refuse that money, so obviously the casinos would have the same option.”

Diadora
Guest
Diadora

Bingo, what a banana republic Vancouver has become. Politicians on the take publicly, suitcase of drug money laundered with no question ask, prostitution in message parlors everywhere, birth hotels advertised openly, foreign corrupt officials running around publicly…..

Just me
Guest
Just me

But all these things are the backbone of our economy (without forgetting students and housewives dabbling in RE investments).
Or so we have been told for many years by the BC Libs….we should not stop this circus because it creates jobs and makes homeowners rich. Damn everyone else.

Just Sayin\"
Guest
Just Sayin\"

Between the street shitters and sand niggers the left lets into the country you’ve got bigger problems than the dirty money ftom locusts.

history
Guest
history
Time to go
Guest
Time to go

Troll bot.

paulb
Member

New
290
Price Change
76
Sold
102
TI:9937

http://www.clivestevepaul.com

Oracle
Guest
Oracle

Looks like words out on Eby not doing anything.

9 K party.

Lost...but not leased
Guest
Lost...but not leased

Political Will and Money Laundering….
Once you realize that 99% of those elected are either political whores or will be soon..life is simple…

UBC Professor David Ley demarcated the sell out of BC to Post Expo 1986..when the first wave of Asians from Hong Kong started to fiscally steal BC from the locals.

Its infinitely amusing when us humble plebs are way ahead on the learning curve on the grassroots..till SHTF and our politicians and bureaucrats are forced to admit the obvious on old news that dirty money is landing here , getting a free ride and stealing our futures.

Only justice is a few heads roll right into a prison cell.

Just me
Guest
Just me

David Ley has been one of the few people at UBC who has not been scared of pointing out the truth. The same cannot be said of many other academics and administration members. I suspect they are scared of being labeled racists, even though they know full well this us about money, not race.

If the members of our best university have been unable to speak out, we are serious troubles.

Oracle
Guest
Oracle

Looks like its game over until the next election.

And i stress you do one thing…Vote NO in the proportional representation referendum.

Otherwise, the NDP will have gotten away with the biggest lie of the decade.

It was a no brainer before to vote YES but not anymore. Think people. Vote NO!!!!!

To hell with Eby and Horgan.

Oracle
Guest
Oracle

Here is one solution. Read with an open mind.

1) The NDP doesn’t want to touch housing so they need to be forced. The Greens want Proportional Representation at all cost.

2) Use leverage on Greens to force NDP to enact housing platform by starting a “NO” movement for Referendum. Make sure to tie the referendum with housing inaction and let Weaver know where we are coming from.

3) 100,000 signatures would cause Weaver to sit and think hard. Folks, forget the wishful thinking. Got to play hardball with these people. They need to know who is in charge.

Who’s with me? Comments?

Oracle
Guest
Oracle

“Voting YES in the Referendum will mean no housing action ever ( Liberals + NDP)”

Bag it and tag it
Member
Bag it and tag it

Stop with your wet dream of having the Libs back in power so your sawdust house can rise in value to infinity so you don’t have to go back to work…

Bag it and tag it
Member
Bag it and tag it

Unless part-time at the quickie mart is considered ‘working’….I would have expected more from someone with a self-proclaimed genius IQ…

Time to go
Guest
Time to go

I am leaning towards the account being a Russian bot at this point. Stop arguing with bots.