What’s your interpretation of “nothing unites them except the value of the cars”?

very doubtful this story is aired on this evening’s news cast. this said, i applaud the richmond news for finally stepping up to the plate and talking about some of these issues that many are afraid to go anywhere near. their most recent edition was pretty much cover to cover complaints/rants about all that is wrong in richmond.

Nothing is going to change with OSFI changes. Locals care about the monthly payment amount and foreign money does not care about banks.

If only this big tree cutdown served the purpose of housing young and productive workers of UBC. History shows that those units will be bought and often left vacant by offshore “investors”, also known as millionaire migrants from mainland China,

They bring cash. But in a few years we will all grow to regret the choices our society is making.

Unless mistaken…all the UBC land is LEASEHOLD….often 99year leases….the least desirable RE to get into. Effectively, you are renting the land and buying a depreciating asset…not good.

And all these years the CRA have focused on going after undeclared tips. Imagine how much tax someone can evade on tips in a year compared to flipping a condo. A waitress may make $5000 in tips and would be at a low tax rate of maybe 20%. The CRA could net $1000 at most. Not enough to pay for the audit. On a flipped condo they are often $100K to $200K each as the lift.

Eby. Horgan. Where are you guys?

From the G&M article:

The B.C. and federal governments could work together to improve reporting requirements for presale assignments, said Ron Usher, a lawyer and one of the members of a 2016 panel struck to review real estate regulation in B.C.

“We’ve not had a system in place … that requires reporting of the acquisition and disposition of real estate, or interests in land-like contracts that get assigned,” Mr. Usher said.

“That’s what missing from the system.”

Authorities could address that gap by making it mandatory to report the acquisition and sale of land, including assignments, Mr. Usher said.

Zolo suggests the market is picking up again, over the past few weeks.
I wonder how many of these buyers are anticipating purchases to avoid new OSFI regulations.
I had a conversation with an expert today. She said the drop in credit available to buyers would e at least 20% and more likely around 30%. It depends on individual cases, and also on whether the bank is willing to make exceptions.

All I know is that in January there will be significantly less money doing the rounds.

You are tedious.

I think I will go there dressed up like a CRA official

…..see how many run for the diaper department

Certainly not Japanese, Indians and Malasyans, right?

Steveston?
Who gives a Fiddlers F*ck…really….

Steveston is really an @ss pimple on the rest of Richmond…full of whiners and bitchers…Sounds like the West side of Vancouver and the legends in their own mind “entitlement ” crowd.

The sad thing is….Richmond Council knows these Steveston types can get organized and target Councillors at election time.

Regardless……Steveston should do Richmond a favor and separate from Richmond so they will STFU and wipe each others bums .

Other articles from that link include Chinese in $100,000 luxury cars stealing $10 pumpkins out of farmers fields and Chinese unabashedly coming to Richmond to give birth so their kid is a Canadian citizen. Yeesh what a gong show Richmond has become.

Norwegian business in Vancouver as usual. Like the part “ordered to pay millions” while meanwhile fucking lowlifes Ethan Sun and his wife, Yulan Hu must be laughing their asses off at the prospect of doing anything as such.

Judging by the report the assholes have mainly screwed their homies. Must be some traditional awkward custom to keep the shit within the “family” or they couldn’t hire anybody else but homies due to management only could interview candidates in Mandarin.

so what happens if/when they do pay up? is that the end of the story? will anyone look into what this sham company is really up to and if it is actually a legit business (versus nothing but a fraudulent document mill). will any of the principals be prosecuted (assuming they can be found)? or will they simply be allowed to quietly and discretely wind up operations, shift some money and other assets around, wipe their hands clean and perhaps even setup shop all over again?

hello?
eby?
bueller?
anyone?

At June 30, 2017, CMHC’s total insurance-in-force was $496 billion, below CMHC’s legislated insurance-in-force limit of $600 billion
https://www.cmhc-schl.gc.ca/en/corp/nero/nere/2017/2017-08-29-1200.cfm

“We are a sprawling and relatively poor country that is heavily dependent on sectors that are either in the toilet or gone forever — oil/mining/manufacturing/forest products/farming.”

Right, but our governments have the ingenious solution. A tremendous amount of land to sell to the highest bidder and infinite but mostly useless and detrimental immigration afflux/accumulation.

Yes they must have left off a zero or two.

something like 14% ALL mortgages in the USA were either delinquent or in foreclosure as of mid 2009

so basically CMHCs spokespeople somehow think (or more likely want us to believe) a US style financial crisis CAN’T happen in canada and/or should the impossible actually unfold, that a material price drop would not occur

who knows, maybe they are right and financial armageddon in canada would naturally lead to a run on safe haven assets like $2000/sqft shoeboxes, illegal hotels built on farmland and $9M bungalows primed for demolition

Apparently, you deserve badge so is Oracle for some of his predictions of exaggerated insanity becoming very present reality. Given the current social and economic situation, as well as future perspective, we are total FUBAR. The key question is how do we get on the path of recovery? How do we clean up the malign shit and reestablish conditions to move forward as a cured society? Thoughts…