Friday Free-for-all! October 20th 2017

We’ll, will you look at that…

It’s Friday!

And Friday means it’s time for another Friday Free-for-all post. This is our regular end of the week news round up and open topic discussion thread for the weekend.

What’s going on out there?

Post your news links, thoughts and anecdotes in the comments section below and have a fantastic weekend!

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bullwhip29
Guest
bullwhip29
Dave
Member

This is just the start of a tsunami of small business closures. Many won’t be able to survive with high real estate prices (both rent and taxes) and the challenge of finding labour to work at costs that make sense. The Federal government also seems to be in the mood to stick it to small business people too. I don’t think retail is a great place to be in for small businesses. You have to be either big or Amazon to be competitive.

This is the next step in hollowing out the City.

Simple Solution
Member
Simple Solution

Hard to stay in business with no customers….

Doomcouver
Guest
Doomcouver

Agreed. Many economies in Canada have become an upside-down pyramid, with massive amounts of capital flowing into real estate speculation, while other sectors are dying. Retail is getting hit especially hard, they’re being smacked with a 1-2 punch of locals not having any money to spend due to wage stagnation, and lower foot traffic to their stores due to a host of factors, including houses left empty by foreigners. There won’t be anything to support us when housing goes south. The recession will be an extremely painful one because of it.

bullwhip29
Guest
bullwhip29

This story is all about real estate. Many businesses are not being offered new leases on reasonable terms as landlords push to empty out their properties and redevelop them into multi family residential. White Rock is a perfect example. Same can be said for 4th ave, Broadway, Cambie, main, s Granville etc

Madashell
Guest
Madashell

Luxury car owners poach Richmond BC pumkin Farmer
The cars that he is catching are usually Mercedes Benzes, Range Rovers, and you know, the likes of BMWs.
https://globalnews.ca/news/3815089/luxury-car-owners-steal-richmond-farmers-pumpkins/
You can buy a$300,000 car and won’t pay for a 3$ pumpkin, disgusting.

bullwhip29
Guest
bullwhip29

it is not the $value that matters here. this is trespassing on private property and theft, plain and simple, the idea that “they” are doing this in the dark of night by accident is insulting. to make matters worse, i wouldn’t be the least bit surprised if these pumpkins don’t even get used and even if they are, these f-tards wind up dumping them in someone else’s yard or in the bushes when they are done with them. now that this story has gone public somewhat we might have Road Salt 2.0 on our hands.

Combat roach
Guest
Combat roach

“It is not the $value that matters here. ”

It does actually, those cheapshits would do whatever it takes to save a buck if somehow possible. It is fucking DNK. Check the garage beneath Safeway at the Robson and Denman in the evening. It looks like high-end car dealership filled with the most expensive cars. Cheapshits park there because it is free for Safeway and BCLS customers for a couple of hours but fucks aren’t shopping there, just park for free and steal convenience for customers.

bullwhip29
Guest
bullwhip29

this story is about the lack of respect and total disregard for the law more than anything else, but yes, saving a buck is a factor too. these little rats think they can stroll through some poor farmers yard and take whatever, whenever simply because their so called higher position on the food chain gives them the privilege to do so.

you are bang on about the parking but safeway needs to smarten up. if you really go on a rant about something, check out how they abuse the handicapped/family parking stalls or simply stop at any old random spot on the road/curb/sidewalk/private drive way etc… flick on hazard lights, exit vehicle, then go run errands…

Doomcouver
Guest
Doomcouver

I have a theory that many Chinese are actually very tight on cash. To the Chinese it’s a cultural thing to appear wealthy even if you’re not. They buy fancy cars and as much real estate as the bank will loan them money for, but then there’s no money left to buy the basics. That’s why you see a lot of Chinese people collecting cans, or going to the food bank when they should be living within their means. Plus the dishonesty thing, but that’s also a cultural norm in mainland China.

Best place on meth
Member
Best place on meth

No, it’s not a lack of cash.

They’re just programmed to grab anything and everything they can.

bullwhip29
Guest
bullwhip29

don’t think so in this case. it is primarily about lack of respect and disregard for everything else but themselves and not always about saving a penny. observe how they drive, slam doors in your face, scoot in front of you in the cashier line, fail to give up handicapped seats, parking stalls and so on and so forth

ChinaOne
Guest
ChinaOne

My cousin bad and get pupkin fo free. My cousin save ten dolla each and make money. My cousin dad make lot money in Shanghai and get rich like this. We buy more condo with money. My cousin wary happy in vancouva. Our land soon.

Diadora
Guest
Diadora

Nothing new. They have been stealing from community gardens for years.

Best place on meth
Member
Best place on meth

And food banks.

Whistler or Bust?
Guest
Whistler or Bust?

He should get a paintball gun

Combat roach
Guest
Combat roach

He should get a flamethrower. It is good for the pumpkin field and interlopers, especially those with fancy cars.

http://2.bp.blogspot.com/_pPsuc9rvU4Y/S-nZaYfhbnI/AAAAAAAABlg/VqXK-eqXd_4/s1600/flamethrower.jpg

Best place on meth
Member
Best place on meth

Field of Screams.

The screams sound vaguely human and resembling something like ayaaaaa!

The Vietnamese had these great buried traps above their tunnels that would capture and shred US soldiers.

https://asianbackpacker.files.wordpress.com/2015/09/cuchi4.jpg

KickThemOut
Member
KickThemOut
So, all the Chinese fake employees in our office pretty much spend all of Thu talking about the Chinas’ Congress thing and Xi and praising about how great China is. So: me: If china is so great, why are you people here? girl: just to get citizen and then we are going back, can’t wait for the sentence to be over. me: so you think China is so great, but Canada’s citizenship is more valuable? Seems like you don’t really think China is so great. girl: no, we need Chinese citizenship, just get Canada for alternative me: I thought China don’t support dual citizens girl: geez…(roll her eyes)…just don’t tell. they wouldn’t know. gosh… me; uhm..ok.. so basically you are lying to China, and Canada for personal benefit. girl: I like Canada, good for vacation. will come back after I… Read more »
Dude Chilling
Guest
Dude Chilling

Bugger off with your drivel.

Oracle
Guest
Oracle
Yup..Most Indians immigrate their elderly here so they can qualify for OAS and GIS. Amounts to $2500/month for a couple. Add to that free medical care and transit. They stay here 6.5 months in the summer so they qualify. The other 5.5 months spent in India where they oversee their farms that are softened leased out to relatives there. When they come back, a lump sum of $15,000 in tax free gains is sitting their bank accounts. They help with the kids and mortgage payments if need be. When they go to the motherland, huge money sitting there from the rental income of the farm and pensions if they have any there. Suckers are the local Canadians who have a clue and defend this bullshit practice because they’ve been schooled as such. The local canadians who don’t have a clue…welll..they… Read more »
Oracle
Guest
Oracle

All this because they don’t declare their overseas assets, rental incomes, dividend incomes, and pensions. Its not even a secret anymore. Nor is the idea that when everyone immigrates, they are the magic age of 55 (10 yr qualification period for OAS GIS). I Know some people who got confused and listed their age as 65 (real age 48) because they were misinformed about the pension qualification time. They are 80 but look like they are 63 LMAO. They just say mistake was made by indian government. hahaha

Im sure this is happening across immigrants from all backgrounds.

Combat roach
Guest
Combat roach

Are you people talking to each other always like idiots (uhm…, geez…(roll her eyes), if you say so…) or just when you are at the public places out of China?

Shut It Down Already
Guest
Shut It Down Already

People in glasshouses….

Combat roach
Guest
Combat roach

Right, the Temptations had the amazing song “Glasshouse”.

If you’re livin’ in a glass house
Don’t throw no stones
If you’re livin’ in a glass house
Don’t throw no stones…

https://youtu.be/IrpFjtJxL3U

Best place on meth
Member
Best place on meth

Space, did you happen to discuss with these vile airheads how many pumpkins you can fit into a Porche vs a Land Rover?

Best place on meth
Member
Best place on meth

Nevermind, I found the mandarin language owners manuals for both (for vehicles sold in Canada).

Interior capacity for Porche:

12 stolen pumpkins, 47 kg of stolen community garden vegetables, 185 cans from food banks, 6 duffel bags of 20 dollar bills, 165 kg of fentanyl, 32 kg of undersized crabs,.

Interior capacity for Land Rover:

94 stolen pumpkins, 398 kg of stolen community garden vegetables, 1475 cans from food banks, 48 duffel bags of 20 dollar bills, 1500 kg of fentanyl, 280 kg of undersized crabs.

Thank god for owners manuals.

Combat roach
Guest
Combat roach

How about buckets with the free salt, how many of them can fit in?

Best place on meth
Member
Best place on meth

Zero.

The inevitable pushing and shoving over free salt will leave none to be loaded into either vehicle.

Page 24 in Porsche manual and page 27 in the Land Rover.

Road Warrior
Guest
Road Warrior

Best post of the thread !!!!

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

The “Great Pumpkin” theft is simply a metaphor…..
I inform the uninitiated that the Asian mentality is to pay top dollar for high priced items(cars, homes etc.) but nickle and dime the rest.

Recall the poor fellow out in Richmond whose strata council mandated Chinese at meetings….one of their goals was to reduce strata fees so that they would be more attractive to potential purchasers (aka more Chinese)

bullwhip29
Guest
bullwhip29

the reduction in strata fees was only the tip of the iceberg. new strata wanted to reassign contracts to friends/family and alter a variety of bylaws that would permit activities that were previously banned.

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

If I was going to buy into a strata, one of THE first things I would do is research the spectrum of owners.

However, the writing is one the wall that these porsche driving pumpkin pilferers will become literal block voters and you will see these more and more stratas run down quicker and moreso than the leaky condo epidemic.

Message is either don’t buy…… or get out ASAP.

Combat roach
Guest
Combat roach

It is a part of the overall cultural change in the city. They claim centuries & centuries of the superior culture.

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

NewsFlash:

RiverRock casino now accepts PUMPKINS in lieu of laundered cash.

southseacompany
Member
southseacompany

“How a slowdown in Vancouver’s economy will impact housing activity over the next 2 years”, BuzzBuzzNews

http://news.buzzbuzzhome.com/2017/10/slowdown-vancouvers-economy-impact-housing-over-next-2-years.html

“With relatively fewer foreign buyers, increased rate hikes and a slowing economy, housing demand in Vancouver will decelerate over the next two years, says the Conference Board of Canada.”

Diadora
Guest
Diadora

It’s the slowing China’s economy that will impact housing activity.

Shut It Down Already
Guest
Shut It Down Already

Because you’ve demonstrated a correlation of statistical significance?

Just me
Guest
Just me

Because it is true. Plain and simple.

Shut It Down Already
Guest
Shut It Down Already

That’s your opinion. The burden of proof is on you.

southseacompany
Member
southseacompany

“Q&A: Stress test for uninsured homebuyers will test housing market”, CBC

http://www.cbc.ca/news/canada/calgary/stress-test-housing-market-guidelines-garth-turner-1.4362807

“New guidelines were introduced for mortgage lenders this week, and among the rules, a stress test for uninsured borrowers was introduced.”

“David Gray of the Calgary Eyeopener spoke Thursday to Garth Turner, a former Conservative MP who writes about finance and real estate on the blog greaterfool.ca.”

southseacompany
Member
southseacompany

“Canada housing agency concerned by unregulated lenders’ growth”, Reuters

https://ca.reuters.com/article/topNews/idCAKBN1CP2AD-OCATP

” New rules meant to cut out risky lending by banks in Canada are pushing home purchasers into the arms of unregulated lenders, the head of the nation’s housing agency said on Friday, adding that steps could be taken to curb their growth.”

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

Scanning some THE TYEE articles….

Looks like the NDP will NOT touch the FirstTime HomeBuyers Program….but will kick the can down the road aka buy time till they can come up with some “broad housing strategy” in the 2018 budget.

Approx 1400 parties have taken advantage of the program..with 1200 applications in the loop.
So…we potentially have around 2600+ parties that may ultimately take advantage of this….and thus one wonders of the impact on the local RE market.

Not a fan of the NDP….but may submit they may really regret winning the last election…The Liberals likely knew they would lose, but set up all sorts of latent boobytraps for the NDP.

Whistler or Bust?
Guest
Whistler or Bust?

“The Liberals likely knew they would lose, but set up all sorts of latent boobytraps for the NDP”

The Liberals never lost. They won the most seats and the most votes. The election was stolen plain and simple.

The NDP will not do anything because they are liars. They said what was necessary to get elected and now that are backtracking on the major planks of their platform:

$10 Daycare
Ride sharing
Real Estate reform

But they did get rid of the tolls (to be replaced with road pricing) and banned the Grizzly Bear hunt.

They will get tossed out for another decade in the next election. Their voters already feel completely betrayed.

Dave
Member

Not if the referendum passes. Then, we’ll get perpetual revolving minority governments.

Shut It Down Already
Guest
Shut It Down Already

Which might actually be a good thing. Imagine if members actually represented their constituents rather than their party.

YVR
Guest
YVR

“Imagine if members actually represented their constituents rather than their party.”

You mean gridlock. We will end up with 8 parties and everyone wanting to be a hero. Nothing will get done. It will be kind of like the NDP but without so many negative policies.

Shut It Down Already
Guest
Shut It Down Already

No, there would be less friction – not more. Issues would be decided individually rather than whether they collectively fit the party manifesto.

The concept of political parties is outdated. An individual can now communicate effortlessly with entire populations, for better or worse.

Diadora
Guest
Diadora

The Greens like mighty good at this point.

Just me
Guest
Just me

You forgot campaign finance reform. That is a biggie.
The BC Libs will tinker with their legislation when they get back to power. they are addicted to cash from developers.
Housing reform is where the NDP is failing us all.
The rest is noise.

YVR
Guest
YVR

“You forgot campaign finance reform.”

What good is campaign finance reform when you still have the NDP doing the opposite of what is in the voters best interests? Uber and housing come to mind. Plus the NDP lied about tax payers paying for campaigns.

Just me
Guest
Just me

What do you mean what good is campaign reform? We’re you asleep while the BC Libs pocketed million of dollars in legal top up salaries paid by wealthy donors? Or is that OK just because it was the right-leaning party doing it…

b kalra
Guest
b kalra

so many months already passed since election but we still waiting a announcement on housing from the Housing minster.

Just me
Guest
Just me

I am certainly waiting. But any additional day makes me think these guys tricked us.
Eby, if you are reading this: your name is on the line when it comes to housing. Minister or not.
We are not stupid.

YVR
Guest
YVR

“We are not stupid.”

Voting for the NDP and expecting them to keep election promises is the definition of stupid.

Dyugle
Guest
Dyugle

Voted for Harper cause he would not tax trusts!!!!

Lost...but not leased
Guest
Lost...but not leased
Re: Grizzly Hunt.., In typical NDP logic..you can still hunt(kill) a grizzly…but must take the meat and leave the hide etc. —————————————————————————————————————————————— While I don’t have any warm and fuzzy feelings towards BC Liberals…( lets be blunt..we choose the hopefully lesser of two or more evils)……..the 1972 Barrett NDP set the “shitting bricks “template…they are on record as realizing they were a protest vote fluke…and had a major agenda of commie- style legislation to push through before next election. The next NDP Gov’t early 1990’s had a prime opportunity to fix what was broken in BC……had a lot of hindsight to work with….but was likely the most dysfunctional governing party in Canada’s history…like how many Premiers did they burn through ..at least 4 ??? Now…..Horgan’s NDP 3.0 seems like ….what…..duhhhh…..whose head is up whose ass ??? ..Clearly .they are on… Read more »
YVR
Guest
YVR

“But they did get rid of the tolls (to be replaced with road pricing) and banned the Grizzly Bear hunt.”

Grizzly bears hunt is still on for meat. That was another broken promise. Once road pricing comes in that will be considered a broken promise by most when they pay more just under a different name.

patriotz
Member

“Grizzly bears hunt is still on for meat. That was another broken promise.”

The NDP promised to end grizzly trophy hunting ONLY. That’s not a defense of their promise, just a defense of the facts. See page 58:

https://action.bcndp.ca/page/-/bcndp/docs/BC-NDP-Platform-2017.pdf

Best place on meth
Member
Best place on meth

“The election was stolen plain and simple.”

Not only was it stolen, but there was Russian collusion as well.

Oracle
Guest
Oracle

I concur. They will lose the next election big time!

In the boonies for another 16 years. Many NDP supporters fee the same.

ILoveCharts
Guest
ILoveCharts

I just bought a place. I’ve given up on the politicians taking logical steps to stop the madness. Might as well join the ride. Wish me luck.

Simple Solution
Member
Simple Solution

good luck!… no more FOMO for you…

Oracle
Guest
Oracle

As long as you can afford it you will be ok. Won’t be able to move up though.

Problem with some weirdos on this blog is they just don’t understand the dynamics affecting the housing market. The clowns think the OSFI rules are gonna cause change.

FFS they are not. They don’t understand that the people that caused this. Unable atent about to reign it in.

Dumb.

No other adjective for these people. And no hope.

Congrats.

I was hoping for a brief decline so I can buy but maybe gonna have to buy the detached further out in the valley. Oh well. Wish me luck.

paulb
Member
Active Member

New
106
Price Change
51
Sold
139
TI:9753

http://www.clivestevepaul.com

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

FYI

I was able to determine via GPS that those people that vote ( – ) to comments are in pumpkin fields as we speak.

Freeze MoFo…yer $ 100,000+ car is seized via proceeds of crime

bullwhip29
Guest
bullwhip29

Live-in buyers offered Victoria condos at discount prices
http://www.cbc.ca/news/canada/british-columbia/live-in-buyers-offered-victoria-condos-at-discount-prices-1.4364433

>>> again, how would a scheme like this keep all those “students” from buying? so no FBT and now a lucky 8% off too!

patriotz
Member

“Byron Chard, the chief financial officer for Victoria-based Chard Development, said 122 units in the Viva at the Yates building will be priced eight per cent below market prices”

Market price is the highest price any buyer is willing to pay in an open market. Unless they offer the same units at the same time on the open market and sell them at a higher price, they don’t know what the market price actually is.

Also, how do buyers “commit” to live in the condo? What goes on the title to enforce this?

Shut It Down Already
Guest
Shut It Down Already

Answer: They cannot commit anybody to stay there for any period of time, let alone 2 years.

Doomcouver
Guest
Doomcouver

This is ridiculous and won’t work. The best way to fix affordability is property taxes inversely proportional to how much income tax you pay in Canada, as well as a yearly tax for properties beyond the first. That would fix affordability literally overnight. It’s too bad that David Eby, one of the people proposing this, and the NDP are spineless eels and don’t have the guts to give us real affordability.

patriotz
Member

Housing and inequality big issues in election. Incumbent right wing party wins most seats, but left wing party forms government with minor party support including Greens. BC? No – New Zealand.

https://www.theguardian.com/world/2017/oct/19/jacinda-ardern-new-zealand-prime-minister-labour-coalition-deal-winston-peters

Doomcouver
Guest
Doomcouver

After the crash I wonder if parties with the best rhetoric on how they’re going to shore up house prices will win… They’d probably get the insolvent baby boomer vote, a large demographic in the future.

Just me
Guest
Just me

River Rock-BCLC meetings in 2014 show depth of concern over big-cash gamblers.

http://vancouversun.com/news/national/river-rock-bclc-meetings-in-2014-show-depth-of-concern-over-big-cash-gamblers

Desmarais requested a mid-November 2014 conference call with Great Canadian executives, documents say, and Walter Soo explained that the gambler was from China, was in Canada on a 10-year visitor visa, and had significant assets including real estate in Vancouver.

Postmedia reported Wednesday that the E-Pirate investigation has resulted in money-laundering charges against two B.C. residents and a high-end money transfer business in Richmond that Mounties allege was used to launder drug cash, and fund VIP gamblers recruited from China who bought chips, mostly at River Rock, with suspected criminal cash.

Just me
Guest
Just me
Corruption? I would be shocked…… This week, Postmedia has attempted to get comment from corporate directors at Great Canadian on the allegations in the E-Pirate probe and River Rock’s anti-money-laundering measures. Postmedia also sought interviews with Liberal Senator Larry Campbell. Campbell, a former police officer, coroner and Vancouver mayor, became a senator in 2005 and was made a director of Great Canadian in 2008. Campbell is paid $100,000 a year for his services as a Great Canadian director, and has accumulated over $1.1 million worth of deferred shares in Great Canadian, financial documents show. Late Thursday afternoon, Keeling emailed, stating only: “We are no longer able to provide an interview tomorrow and we do not have any further comments at this time.” “I’m sorry, I’m not in Canada and I can’t make out what you are saying,” Campbell said, before… Read more »
YVR
Guest
YVR

Larry Campbell is a BC NDPer. They are all corrupt. Former Cope Mayor which morphed into Vision.

patriotz
Member

“Larry Campbell is a BC NDPer.”

No he isn’t. He was appointed to the Senate by Martin in 2005 as a member of the Liberal caucus and remained a member of that caucus until JT abolished it recently. He has never run as a candidate for the NDP, and to the best of my knowledge never campaigned for the party or held a membership.

YVR
Guest
YVR

He was a Cope mayor when Cope was the unofficial municipal arm of the NDP prior to Vision even forming and you know it. Larry Campbell’s former senior adviser was Geoff Meggs. He is just another corrupt BC NDPer.

patriotz
Member

In other words, “NDPer” is whatever you decide it means, not what the NDP decides it means. Well that’s a convenient way to convince yourself you’re winning an argument, Humpty Dumpty.

Shut It Down Already
Guest
Shut It Down Already

I believe it’s called the “no true Scotsman fallacy”.

Oracle
Guest
Oracle

Give it up. This group here will be defending the NDP etc in 12 months when the NDP again says they are studying the situation. Lmao

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

Larry Campbell..ex RCMP?

Recall that he was given a Senate seat as a reward for his work manouevring Canada Line…

Good that these things get dug up…sad how compromised our political system is

Just me
Guest
Just me

From the comment section of Sam Cooper’s article:

BC Liberal Rich Coleman cancelled RCMP organized crime unit in 2012 s investigation s by 2014 money laundering in casinos was out of control.BC Liberals never said a word especially because they were up for re election when they lost and new govt formed after delay after delay game well they deleted and shred cause they knew what was coming New NDP attorney general getting busy finding out what went on for 16yrs everything the BC Liberals touched got corrupted and messed up pay to play political party and now they want to divert attention onto their leadership race as though the public needs more of their lies and corruption.

Whistler or bust
Guest
Whistler or bust

Why don’t you focus on the article and not what someone wrote in the comments section. Sam never pointed the finger at the Liberals at all. It sounds like Great Canadian Casino did not want to lose business and did not report to Fintrac or the police. They are the ones who should be fined or have their lucense strippped.

Just me
Guest
Just me

My point is: this whole investigation was set in motion by David Eby’s actions. Why did the BC Libs not do the same?
Incidentally, I am still very disappointed in Eby about housing issues. I am not shy criticizing the guy. However I believe that large amounts of cash (hundreds of millions of $) were being laundered in BC casinos. If they manage to stop these flows it will have a first order effect on SFH market.

Recognize merit when it is due.

YVR
Guest
YVR

Let us know when they NDP are finished studying the issue and take some action. Of course there is no study needed and action could be taken immediately. Until then Eby and the NDP are actually worse than the Liberals. They are knowingly allowing the money laundering to continue and have basically told all the criminals business as usual.

Oracle
Guest
Oracle

No one goes to jail. Most a slap on wrist.

Yet the SJWs think NDP is doing this or that. FFS they haven’t done anything but send things to study.

List what they have done!

bullwhip29
Guest
bullwhip29

the magnitude of the money laundering problem can be measured in the billions, if not tens of billions. Silver Intl alone linked to movement of $500M in sketchy money (that authorities know of) just in one year. you’d have to be a naive fool to think there aren’t many other operations of similar of larger magnitude setup all across the country, let alone just in the lower mainland

Just me
Guest
Just me

You have got to start from somewhere.

My worry is that some politicians and governments (like the BC Libs) may see these activities as a net positive for the economy and let them run in the background undisturbed. This would be a disaster for the country and society at large, except for the few who line their pockets with Chinese money.

In this sense, you have to give some credit to Eby for at least not turning the other way.

Of course, much of this money laundering would stop in its tracks if we made it impossible to invest the proceeds in Vancouver real estate. NDP, are you listening? We need to make it unprofitable for these guys to invest in real estate. There is no other solution!

YVR
Guest
YVR

“BC Liberal Rich Coleman cancelled RCMP organized crime unit in 2012 ”

I don’t recall the NDP stating they will be reversing this. Why not?

Just me
Guest
Just me

Good point. Pressure is on them now.

But the biggie is housing: will the NDP put in place serious and consequential measures to reduce “investment” by offshore millionaires? That is a test of their ability to govern in the long run.
If they take no action, the voting public who supported them will remember. They should please their voters, not the homeowners who voted for the BC Libs.

Oracle
Guest
Oracle

6 months after election and you still waiting for NDP to do something on housing?

They haven’t even talked down the market let alone said a peep about the FBT loopholes, 2% tax, 2nd mortgage, etc etc etc.

When they announce something, you gonna be pissed. They going to announce 3-4000 housing units (overpriced) and a repeal of the FBT so they can study the situation.

Lol

Oracle
Guest
Oracle

Looks like the NDP were fake news.

It’s been 6 months since election

12 months until referendum.

You really think they are about to lower housing prices now before a referendum?? Think Einsteins.

Their window to do something has passed. That’s why RE picking up again.

In 12 months, PR will fail as disenfranchised NDP voters stay home. This is exactly what the NDP wants. A Lib-NDP backroom alliance.

Note if anyone gets convicted of the 16 years of liberal corruption. I bet no one does. All optics.

stagnate
Guest
stagnate

let’s not be confused about the casino money, of course the government wants its cuts of the Chinese money. let’s not be confused about Eby either. growing up he was smarter taller and more nerdy than the other kids. probably bullied. not a shock he would become a hard core lefty. will be interesting to see if he becomes dissilusioned or just bides his time. usually you can count on the ndp for a bunch of lefty social engineering but this time they might not get around to it. they have to cater to their special interests plus a lot of the liberal special interests as well.

Just me
Guest
Just me

The nefarious influence that 10 years of Chinese money laundering has had on our society, social fabric and trust in democratic institutions is out there for everyone to see.

We need a few brave politicians who are not afraid to restrict this corrupting and all-pervading flow of money from Mainland China.

Shut It Down Already
Guest
Shut It Down Already

The incident you’ve been citing recently (the cancelled RCMP investigation) was largely in relation to Hells Angels. So it’s a little dishonest of you to imply that it’s all Chinese, wouldn’t you say? But you’ve demonstrated repeatedly that you’re not interested in honesty or facts, so no real surprise.

https://beta.theglobeandmail.com/news/british-columbia/bc-warned-of-organized-crimes-reach-into-gambling/article1368787

Abdul Lahazi
Guest
Abdul Lahazi

From your own posted article link:
Members and associates of the Hells Angels, as well as Italian and Asian organized crime figures, are believed to run those illegal facilities or operate as bookmakers.
Meanwhile, “some loan sharks are also believed to be associated to Asian based criminal organizations.”

It was not only “largely in relation to Hells Angels” but was in fact related to many groups including Asian gangsters.
You question other posters credibility while you yourself bend the facts and break the truth to further your own agenda. It is apparent you are an Asian apologist for criminals and you who will deny the truth and the facts because they don’t suit your own world view.

Shut It Down Already
Guest
Shut It Down Already

Perhaps you don’t know the definition of the words “largely”, “all”, and “some”? It would certainly appear that way. Learn to fucking read.

Abdul Lahazi
Guest
Abdul Lahazi

You used the word “largely” it was not stated that way in the article it is your interpretation and once again, the way you spun it.

Best place on meth
Member
Best place on meth

The “majority” of buyers are local, says the slimy, disingenuous prick trying to draw attention away from the criminal chinese laundering money in Vancouver real estate and driving up prices.

Yeah, we fucking knew that.

Shut It Down Already
Guest
Shut It Down Already

You still think 5-10% of buyers are driving the entire market? Cute.

Ten years and still no credible evidence.

Shut It Down Already
Guest
Shut It Down Already

The wording of the article was pretty clear.

Just me misrepresented the suspended RCMP investigation to suit his own agenda, end of story.

Just me
Guest
Just me

Abdul, let SIDA go on his own tangent. He lives in a parallel world in which mainland Chinese do no harm and have no influence on affairs of any kind in Vancouver.
The dude sees racism in every sentence, including the punctuation. The sorry thing is that, in Canada around 2017, people like him are able to stifle honest and fact-based debate on the grounds of racial discrimination.
Sad indeed.
I will never tire to write it: what is happening is about money, not race.

Shut It Down Already
Guest
Shut It Down Already

Nice strawman! Congrats!

Best place on meth
Member
Best place on meth

Anti-EU, anti immigrant party wins in Czech Republic.

https://www.yahoo.com/news/czech-trump-poised-win-vote-promises-stage-023419411.html

This sentiment keeps gaining strength all over the western world.

patriotz
Member

(Babis) says he would not bring the Czech Republic in to the eurozone but he wants the country to stay in the EU, telling Reuters he would propose changes to the European Council on issues like food quality and a “solution to migration”.

The former East Bloc countries have benefited greatly from EU membership (as has Babis personally apparently) and there is no major movement in any of them to leave.
http://www.bbc.com/news/world-europe-41708844

Just me
Guest
Just me

Vacant Shaughnessy mansion gutted in 3-alarm blaze overnight. House was vacant for almost 5 years, according to neighbours

http://www.cbc.ca/news/canada/british-columbia/shaughnessy-mansion-gutted-in-3-alarm-fire-1.4366327

“This house is about five years old,” said Vancouver Fire Deputy Chief Brian Godlonton.
“It’s quite a nice home … and unfortunately another vacant home in our city that’s gone up in flames.”

Some neighbours told CBC News the house had been vacant for several years.

Godlonton added fire crews can face several hazards when dealing with fires in empty houses.

“These vacant homes are becoming more and more of a challenge, not only for the community but for our firefighters,” he said.

bullwhip29
Guest
bullwhip29

you can’t blame all these incidents on squatters or shoddy construction. at some point the authorities will need to step up and call out the fraudsters at least every now and then. no love lost for these owners who will wind up with a bigger, better mansion and maybe some change left over for a couple of new toys

YVR
Guest
YVR

I bet the place is either not insured or insurance doesn’t cover this fire damage. You need special insurance to insure a vacant home including regular inspections. Regular house insurance is typically void if a home is vacant for over a month. Good luck to get a mortgage to rebuild with the new OSFI rules.

bullwhip29
Guest
bullwhip29

doubtful owners are that stupid. imho proper coverage is in place and can be obtained for a price. this report suggests home is 104 yrs old not 5 yrs (as cbc article indicated) which suggests there is certainly motivation to burn it down since owners can’t tear it down. now i am positive a MUCH larger spralling monstrosity will replace this and owners wont pay a dime

https://globalnews.ca/news/3818347/14m-mansion-in-vancouvers-shaughnessy-neighbourhood-destroyed-by-fire/

bullwhip29
Guest
bullwhip29

i’d also like to add that it is funny these mansion fires (or other older homes destined to be torn down) always seem to burn down when no one is looking

Shut It Down Already
Guest
Shut It Down Already

If somebody was looking then it’d be extinguished and not make the news. Duh.

bullwhip29
Guest
bullwhip29

sure…LOL

so you’re saying that had this occurred in daytime some random passerby runs onto property with own extinguisher in hand to tackle fire that would be out of control if finally visible from street and do so in a manner that remains off radar of neighbors, msm etc? remember, idiot, no one was home.

this fire was either set by a wing nut arsonist who targeted this estate, decided to break through front gate, gain access to property and torch entire home from multiple points of origination all without being seen by neighbors, surveillance cams OR something fishy occurred

kabloona
Member
kabloona

Wow, this sounds awfully familiar….

“Stop dithering and raise interest rates”

http://www.telegraph.co.uk/business/2017/10/21/stop-dithering-raise-interest-rates/

😉

“UK inflation hit its highest level for over five years in September, we learnt last week. CPI inflation climbed to 3pc, a rate not seen since April 2012. Unemployment, meanwhile, held steady at 4.3pc, a 42-year low.

The Bank of England’s monetary policy committee, when it meets on Nov 2, is widely expected to raise interest rates for the first time since July 2007. If the MPC fails to move, financial markets could feel they’ve been taken for a ride.

Several times in recent years, the Bank of England has indicated a rate increase was in the offing – in a bid to talk up the pound, containing inflationary pressures via cheaper imports. But ultra-low rates have stayed put…..”

Oracle
Guest
Oracle

The bond yield curve indicates that interest rates aren’t even going to rise 1% going forward 10 yrs.

Whistler or Bust?
Guest
Whistler or Bust?

The yield curve was dead wrong about Canada.

Joe Money
Guest

Of course, because the bond market isn’t responding to true market forces and is distorted by the historically unprecedented and massive bond buying conducted by central banks in the last decade.

Loon
Guest
Loon

Loophole in new OSFI stress test:

But mortgage industry experts are now pointing out that OSFI did not regulate the length of the amortization used in the qualifying calculation, which involves ensuring that only a certain percentage of your monthly household income be dedicated to housing costs.

A longer amortization period reduces the monthly payment at a given interest rate, meaning loan providers could extend amortizations from 25 to 35 years, potentially create a smaller monthly payment that would qualify more buyers.

http://business.financialpost.com/real-estate/mortgage-industry-sees-amortization-loophole-in-osfis-new-stress-test-rules

Oracle
Guest
Oracle

I got down voted for saying this.

Nothing happens to house prices after OSFI as demand out of control. People will just focus on monthly payment and if it means a 35 yr amortization so be it.

The sheep have been distracted from the foreign $$ and 2nd homes issue.

Let the down voting begin.

bullwhip29
Guest
bullwhip29

werent they already doing this in some cases? if so the only material change here is the introduction of the stress test itself

Oracle
Guest
Oracle

Ask yourself why they didn’t standardize amortization length between insured (max 25) and uninsured (35 years) mortgages?? Stress test is meaningless as it only forces those who don’t qualify to go into longer amortization mortgages.

They left that loophole in there so basically nothing changes. Monthly stays the same.

And people here got excited about these changes. LMAO.

To have real impact, they have to act on demand side: Immigration. Foreign money, and Taxing 2nd homes (non-resident and specs).

Oracle
Guest
Oracle

down voting? can’t stomach the facts?

specuskeptic
Member

I can’t stomach lies and liars. Down vote it is.

bullwhip29
Guest
bullwhip29

Elaine Tsang, a first-generation Chinese Canadian who purchased West Vancouver home decades ago at a modest price, sets the record straight regarding allegations of rampant tax evasion in many upscale neighborhoods in Gr Vancouver
http://www.nsnews.com/opinion/letters/letter-low-income-in-west-van-but-no-tax-cheat-1.23070745

Combat roach
Guest
Combat roach

Lol, and yet arrogant locust has a nerve to post such bullshit likely thinking that people are retarded so now she is going to explain how it all works. She forgot to mention how those low earners manage to get all those cars beside mansions while being sooo poor and “tax honest”.

Best place on meth
Member
Best place on meth

Oh god, not this pathetic rebuttal again.

“Much has also been said about the dubious ownership of expensive real estate by immigrant “foreign” housewives and students. However, the largesse that they have bestowed on the local economy has more than made up for the allegedly dishonest low income taxes they pay for now. ”

And of course she just had to bring up the head tax for good measure.

Just me
Guest
Just me

I cannot believe she had the guts to put that in writing. That letter sums up all is wrong with Vancouver in 2017.
Taxes are for the little people. The rich contribute to the economy by acquiring luxury goods.
Elaine, you are shameful and your reasoning is intrinsically dishonest.
When in doubt, play the race card.

bullwhip29
Guest
bullwhip29

not disagreeing with you but behind the scenes there is a group calling out the FBT as a Head Tax 2.0 and making a serious push to have it abolished.

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

Head Tax….???
All I say to these whiners is STFU…..

The “All Wars Are Banker Wars ” pre Communist oligarchs undercut the existing Canadian Citizens by importing cheap Chinese labour which created righteous outrage. What is never mentioned is that the Chinese were not forced to pay the head tax.. clearly they felt paying the head tax was still a far better option than staying in China. again…STFU whiners

Same with Komagatu Maru…another cue to whiners.
Many subversive elements were spread throughout the world…aka ala Bolshevik Revolution…and this ship was red flagged for numerous reasons as a security threat

Dude Chilling
Guest
Dude Chilling

“Then there are the immigrants who have collectively saved and accumulated for two to three generations so that they can afford to purchase high value real estate properties. ”

Saved and accumulated for three generations??? Ya sure Elaine. HAHAHA!!!

Just me
Guest
Just me

Is she saying it is ok to evade taxes if you buy expensive cars and real estate.
This stuff really makes your stomach turn. Elaine, you are not only wrong. You are insulting your fellow Canadian citizens.
Shame on you.

Best place on meth
Member
Best place on meth

She may hold Canadian citizenship, but she’s no Canadian.

Always was and always will be chinese first, with zero allegiance to our country.

Worst type of immigrant.

Whistler or Bust?
Guest
Whistler or Bust?

A rare up vote for BPOM

Combat roach
Guest
Combat roach

That locust philosopher Elaine actually preaches the same shit like spaceshit in his tirades about wealthy Chinese mainlander and his/her rights and duties in Canada. They fucking consistently demonstrate the same twisted pathology about their understanding of western democracy and socio-economic norms and yet trying to teach us a lesson every time. What a fucking bunch of weirdos and yet we tolerate all of them and their shit a big time here in BC.

bullwhip29
Guest
bullwhip29

A new study from the University of British Columbia suggests prices have only increased by a “modest” five to 10 per cent as a result a foreign buyer participation in the local real estate market
https://globalnews.ca/news/3817934/foreign-buyers-effect-on-vancouvers-housing-prices-is-modest-study/

Just me
Guest
Just me

Always mind the assumptions in quantitative studies:

However, Favilukis said estimating the number of homes owned by out of town people is very difficult.

For the purpose of the study, foreign ownership was estimated at about 10 per cent.

“We did our best with taking the data that B.C. started collecting about a year ago and unfortunately that’s just the best that we can do in terms of estimating these numbers.”

Basically they underestimate the amount of foreign money. They can only measure the share of foreign buyers. Not the share of foreign money.

That makes a massive difference. As we have discussed many times.

oopswediditagain
Guest
oopswediditagain

Or perhaps B.C. residents are caught up in all of that “quick money” and are outdoing the immigrants.

http://vancouversun.com/news/local-news/surrey-man-sentenced-fined-for-real-estate-income-tax-evasion

B.C. title documents show that Dhudwal currently owns 10 properties in Surrey, valued at $8.8 million in total. In various mortgage documents for these homes, Dhudwal lists his occupation as “self-employed” and also “janitorial,” as well as “sawmill worker.”
<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

It does make you wonder how much closer to the U.S.A. implosion we can get.

https://qz.com/1064061/house-flippers-triggered-the-us-housing-market-crash-not-poor-subprime-borrowers-a-new-study-shows/

"The latest comes in a new NBER working paper arguing that it was wealthy or middle-class house-flipping speculators who blew up the bubble to cataclysmic proportions, and then wrecked local housing markets when they defaulted en masse."

history
Guest
history

they used a Game to study the issue.
where have we heard that before?

we livin’ in a hologram, boys and girls. Someones ‘game’

wpDiscuz