New Zealand bans foreign home buyers

Just me shared this story from the BBC.

Prime minister-elect Jacinda Ardern said the ban only applied to non-residents.

The country is facing a housing affordability crisis which has left home ownership out of reach for many.

Low interest rates, limited housing stock and immigration have driven up prices in recent years.

Foreign ownership and a housing shortage in New Zealand’s bigger cities were prominent issues in the run-up to the September election, which saw the end of nine years of rule by the conservative National Party.

Read the full article here.

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[…] –whats the NDP doing about housing? […]

bullwhip29
bullwhip29
2 years ago
Doomcouver
Doomcouver
2 years ago
Reply to  bullwhip29

Governments need to start repossessing these vacant properties using civil forfeiture when applicable, and land expropriation where necessary. Our current governments won’t do that because they’re beholden to the wealthiest Canadians and foreign interests, but taking back these vacant properties and auctioning them is the best way alleviate the housing crisis. There needs to be some property abandonment laws to accelerate the expropriation of these properties as well.

Just me
Just me
2 years ago
Reply to  bullwhip29

As shown in a 2015 analysis by Vancouver urban planner Andy Yan, the pattern of non-anglicized Chinese names of owners with non-earning occupations like “homemaker” and “student” is common in Westside Vancouver neighbourhoods, where houses are now valued in multi-millions. The two empty houses Lewis pointed out to Metro also fit that pattern, according to land titles: one is owned by a student, the other, by a housewife.
Between 2001 and 2016, Westside neighbourhoods lost 2,100 people, according to the 2016 Census. Public school enrolment has also declined. When Yan looked at voter participation in the 2014 municipal election, the trend continued: Westside neighbourhoods are empty spaces on the map.

Just me
Just me
2 years ago
Reply to  Just me

And here is the thing that makes you reconsider what is happening with Vancouver. Vancouver’s empty home tax may be turning this trend around: starting this year, homeowners who leave homes empty for more than six months must pay one per cent of the home’s assessed value to the city. Lewis has noticed some neighbours returning. And when she knocks on the door of one of the empty houses, there’s a light on inside and the man who answers the door says he and his family just moved in (it turns out to be James Tansey, a business professor at the University of British Columbia.) He confirms the six-bedroom, $8.2 million house has been empty for two years. He believes the empty homes tax is the reason the owner is renting it out now, for $4,200 a month. Lewis says… Read more »

Just me
Just me
2 years ago
Reply to  Just me

Mainland China money launderers: owners. Local working families: renters.

This is Vancouver in two sentences. Can we force our politicians to change this sad and intolerable state of affairs? I see no other option: either that or leave.
I don’t want to pay rent to someone I don’t respect, and who might be just a corrupt bureaucrat or criminal, illegally smuggling funds out of a dictatorship like China.

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  Just me

I think leaving is your best bet.

Just me
Just me
2 years ago

And instead I stand firm. And all the while, I will keep pushing for this state of affairs to change.

Chinese mainland millionaire migrants may have the money, but we still have a vote to kick them out. It might take a few years, we may have to kick out a few corrupt or inept politicians. But we will finally find representation, and someone who does the voters’ bidding.

You just need patience. Where there is a will, there is a way.

Combat roach
Combat roach
2 years ago

Why would he leave until all options are exhausted, sewer is unclogged and shit is ousted out? Fuckup is yet to unfold.

Oracle
Oracle
2 years ago
Reply to  Just me

Maybe actually start protests around NDP MLA offices. Hopefully 100,000 renters can unite and take action!!

Best place on meth
Best place on meth
2 years ago
Reply to  Just me

If a 1% empty home tax encourages some offshore sinomen to rent out the house, imagine what a 10% empty home tax would do?

Just me
Just me
2 years ago

Spot on.
Exactly my point.
Policy tools are there, ready to be used. Where are the politicians willing to pick those tools up?
Pressure is building, politicians cannot go hiding much longer. A Vancouver is becoming a pressure cooker.

Disgruntled Condo
Disgruntled Condo
2 years ago
Reply to  Just me

What are our options? BC Libs or NDP, Greens will never hold majority. Politicians have nothing to fear because there is no viable alternative.

Best place on meth
Best place on meth
2 years ago

Best option is PR both in Victoria and Ottawa as majority governments have proven to be evil.

Turd already reneged being the lying piece of shit he is, soon we’ll see of Horgan does as well.

Oracle
Oracle
2 years ago

PR means Lib and NDP who are in developer pockets means nothing will ever get done on housing. Its suckers that can’t think critically that are going to fuck it up.

Think! Shhh..! Think!

Best place on meth
Best place on meth
2 years ago
Reply to  Oracle

Hey VCI’ers and voters, Oracle is 100% against PR!

How does that make you feel about this issue?

Oracle
Oracle
2 years ago

Take a critical thinking course for fuck sakes.

Dumb people should not be allowed on internet.

With PR, every housing measure will be voted down by Libs and NDP.

Vote NO to pressure Greens. It’s now or never.

And quit downvoting against your self interest.

Just me
Just me
2 years ago

Vancouver is becoming fertile ground for a populist politician to win consensus.
Given the right housing policy, I would vote for them.
What our current politicians do not understand is that the rage and discontent is real and growing. You cannot put it to sleep any longer. If they do nothing, they will be wiped out in no time. Of this, I am quite sure.

patriotz
2 years ago
Reply to  Just me

If there were only 1 such politician running in the recent by-election, she would have won handily. If the left can get their act together (and if Vision is willing to make some room for them), they will win handily next year. But that’s a big if. One City is a breakaway group from COPE who can’t abide the current leadership, and Swanson is a many time COPE candidate (including for mayor) who chose to run as an independent. COPE decided it would be better to endorse her than run their own candidate who would get clobbered.

Lost...but not leased
Lost...but not leased
2 years ago

That Mansion that burned down a few days ago may have scared owners of vacant homes, given a vacant home is not insureable.

They may realize their asset is at stake and realize someone needs to live in the home or they are at risk……..especially newer homes that haven’t depreciated much.

===============

On another note…deal with tomorrow..is how IRELAND is dealing with vacant homes.

Whistler or bust
Whistler or bust
2 years ago

That mansion was probably 90% land value. Its worth way more as a vacant lot that can be built on.

bullwhip29
bullwhip29
2 years ago
bullwhip29
bullwhip29
2 years ago

In Metro Vancouver, 43 per cent of renters are living in homes they can’t afford: Census
https://globalnews.ca/news/3827172/metro-vancouver-rent-census/

history
history
2 years ago
Reply to  bullwhip29
Oracle
Oracle
2 years ago

Put pressure on Weaver and Greens to make housing platform a confidence issue.

If he doesn’t listen, vote NO for PR and his party is destroyed.

It’s now or never people. Fight back hard!

history
history
2 years ago
Reply to  Oracle

Flow Thru Welfare for Landlords

paulb
paulb
2 years ago

New
141
Price Change
49
Sold
132
TI:9807

http://www.clivestevepaul.com

Just me
Just me
2 years ago

Vaughn Palmer: Horgan’s work as premier tops first 100 days for NDP. http://vancouversun.com/opinion/columnists/vaughn-palmer-horgans-work-as-premier-tops-first-100-days-for-ndp Then there’s Selina Robinson, minister of municipal affairs and housing. She seemed to know her stuff in Opposition, but has scrambled to keep up with expectations on the NDP commitments to make housing more affordable. One of her worst performances came this week, during an interview on the Jon McComb show on CKNW when she repeatedly showed that she had nothing to say on the file. Even government insiders were asking why she granted an interview only to demonstrate how far behind the curve she was on what was arguably the No. 1 issue in the party election platform. —————- Even Vaughn Palmer acknowledges what we all have known for a long time: the housing file is the most important file for the NDP government. And affordability… Read more »

history
history
2 years ago
Reply to  Just me

Selina is merely acting out the cluenessess exhibited by her demographic and gender on the housing issue. It’s a big secret and rarely discussed problem. Who owns the houses in our society after you look past the Immigrant clysterfck? Its the Mothers.. DaddyO is long gone, yknow divorced and livin in his truck somwhere robbing banks.. ok, enuf… back to the women. i dont have stats but who, guys or gals, doin the refinance/reno/travel Cha-Cha?

Best place on meth
Best place on meth
2 years ago
Reply to  Just me

It’s been 100 days already?

I can’t believe they haven’t fixed everything yet.

Oracle
Oracle
2 years ago

You can’t be that stupid?! Can you?

For fuck sakes they could have implemented everything by now. Or even the Greens housing platform and say it wasn’t theirs. Are you that dull you don’t see this?

YVR
YVR
2 years ago

You say they haven’t “fixed everything” as if they had even started to fix anything. They have done nothing in the first 100 days except evade on housing issues.

Best place on meth
Best place on meth
2 years ago
Reply to  YVR

You missed the announcement today on fixed leases?

That’s a housing issue.

YVR
YVR
2 years ago

Ok correction. They have done nothing but thrown a few crumbs to the naive. Yay I only get a 4% rent increase if my landlord doesn’t evict me.

Best place on meth
Best place on meth
2 years ago
Reply to  YVR

I hear you, Oracle.

I hear you loud and clear.

Whistler or bust
Whistler or bust
2 years ago

Yes one that is going to DECREASE the supply of rental units.

Well done!

Workers of the world unite!

Oracle
Oracle
2 years ago
Reply to  YVR

BPOM just thinks defending the NDP inaction and down voting posts here is going to cause his wishes to come true.

If this is a sign of bear intellect, we are doomed

Lost...but not leased
Lost...but not leased
2 years ago
Reply to  Just me

You have to wonder why Eby wasn’t made Housing Minister……all I saw at those town hall meetings was Eby, Horgan and UBC’s Davidoff.

While no big fan of the Liberals,…at least we know what to expect. Methinks Horgan is chumming the political waters with Svend’s wife.Selena Robinson…and I “almost” feel sorry for her…as they have not provided her with any real concrete talking points . More and more people are awakening to what is going on concurrently with less patience for inaction. At this rate, I give her tilll Spring 2018.

I almost wonder if the NDP is letting COV Vision party test the policy waters with their Vacancy Tax, and Temporary Housing Bylaw…etc.

Also..where’s Weaver????..sure quiet lately.

Oracle
Oracle
2 years ago

Tell Davidoff that you will vote NO on PR. Libs get back in and Davidoff probably fired.

Leverage the PR people. Now or never. You chose.

history
history
2 years ago
Reply to  Oracle

Leveraging growth or value?

ostritch
ostritch
2 years ago

Wtf??? Sven Robinson is was gay?

b kalra
b kalra
2 years ago

Eby was not picked for housing as he can not fulfill the promise made on housing affordability , the liberal taken a right decision on foreign tax but later on diluted to appease builders. Green promise foreign tax on whole province, did nothing to pressure the NDP to fix the problem, the result is housing market is hot again.

Yikes
Yikes
2 years ago

That Making Life Affordable sign in front of Selina speech today on closing the renter loophole. Apparently the company that makes them is working on a few more… my buddy who works there tells me shit about to hit the fan

Just me
Just me
2 years ago
Reply to  Yikes

They should do something about buyers, not just renters and/or homeless with mental and addiction issues.

And the only thing to help buyers is to introduce legislation that has the effect to lower house prices.
As simple as that. Anything else is useless, and voters will see it for what it is.

As Tom Davidoff said today:
“The province is going to have to act,” Davidoff said. “We have a new government that was elected largely on a platform of ‘do something about high housing costs.’”

Will they act?

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  Just me

They could also remove existing legislation aimed at keeping prices high.

Just me
Just me
2 years ago

For once I agree with you. But will they even do that? (1) reduce homeowner grant? (2) make tax delay less convenient for rich people: make them pay interest? (3) make house taxes more progressive? (4) link house taxes to income taxes, as proposed by the UBC/SFU economists? …. The list goes on. The options are virtually infinite. Will they do anything? Is there any possible circumstance in which they will enact something that has actually any bite? I am frankly sick and tired of our provincial politicians repeating that ” we have to research the issue, and we have to proceed gradually to see the consequences of our incremental baby steps…”. Prices are actually going up again, just look at Zolo. And we need a drop of at least 25% to make things look insane (rather than totally deranged… Read more »

Best place on meth
Best place on meth
2 years ago
Reply to  Just me

“For once I agree with you.”

The asshole should print that out and put it in a solid gold frame.

Oracle
Oracle
2 years ago
Reply to  Just me

You need to take power or have leverage for fuck sakes. When will the renter minions get it????

Tell weaver it’s a NO unless significant housing action is taken.

FFS people think what happens if you vote yes. No housing action ever. !!!

Bag it and tag it
Bag it and tag it
2 years ago
Reply to  Oracle

Wrong…change to proportional will open the door for a niche party whose platform is based solely on bringing down prices by measures such as banning foreign purchases, etc. If they get enough votes, they will be able to create coalitions with parties under the condition their housing demands are met.

Combat roach
Combat roach
2 years ago

Bravo, looks like you are familiar with the shit but in the meantime just enjoying getting on people’s nerves.

b kalra
b kalra
2 years ago
Reply to  Just me

they will not taking any step for buyers, as seventy percent people are very happy with fake high prices of housing and they may not want to disappoint them in order to helping remaining 30% renters.

Oracle
Oracle
2 years ago
Reply to  Yikes

BS. Let’s see proof. Don’t play with the minions here who believe anything.

Spec
2 years ago
Reply to  Oracle

“BS. Let’s see proof. Don’t play with the minions here who believe anything.”

LOL. Not only does bOracle post with no sense of shame, they also evidently lack a sense of irony. Good god….

StupidityCheck
StupidityCheck
2 years ago

Get out if you can! Vancouver is only good if you’re a Chinese kleptocrat!

history
history
2 years ago
Reply to  StupidityCheck

sorry, cant leave the Gulag, not possible.. you try , go ahead, 1000 might survive, One person write the Vancouver Debtipelago in a few years, he will have beard, no mustache and be heterosexual, and drive out in van

history
history
2 years ago
Reply to  history

deptipelago, Debtipellago and DEBTIPELAGO, trademarket, copywrite and is MINE, history, VCI… no pigger media use, or write distractive story like CORRELATION blah blah, when it is Mortgage Refinancing collapse 0.82, so will house prices, like Pigger media sportscastor setup Bullsheit lie and forge Refinance application, so he can house in his truck bedroom and have gasoline,….. when it is really Caribbean snowbirds idiots refinance mort every year.

history
history
2 years ago

http://www.baldingsworld.com/2017/10/26/technical-follow-up-to-hidden-chinese-debt/

“We are literally talking about a nearly $40 trillion USD pile that the PBOC dropped into conversation.”

patriotz
2 years ago

As the article (but not the inaccurate headline) states, the NZ ban applies only to existing properties. This is the same restriction as Australia has, and their policy has been proven to be ineffective in controlling prices.

Dave
2 years ago
Reply to  patriotz

At the very least it would be a symbolic gesture.

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  Dave

A symbol of stupidity.

southseacompany
southseacompany
2 years ago
Reply to  Dave

Banning artificially created money would be the substantive gesture.

But, then again, it’s much easier to blame the scapegoat while your trying to figure out how the heck to get out of a liquidity trap.

Goawaygovernmentnerd
Goawaygovernmentnerd
2 years ago
Reply to  patriotz

Here is patriotz being his nerdy self. Pointing out technical details , estimating price/rent ratios, meanwhile housing prices have quadrupled since he stared making his astute predictions. Haha. Go away. You have nothing to contribute here.

YVR
YVR
2 years ago
Reply to  patriotz

“their policy has been proven to be ineffective in controlling prices.”

Who knows what prices would be without this measure. Clearly Australia needs more measures to cool housing but certainly banning foreigners from buying existing housing is better than doing nothing.

patriotz
2 years ago
Reply to  YVR

It’s worse than doing nothing, because it provides an incentive to tear down perfectly good and attractive housing and build an ugly new house which can be sold to foreigners. This is exactly what is happening in Australia.

Unless you’re in the construction business, of course.

bullwhip29
bullwhip29
2 years ago

A press conference to announce two modular housing sites to house homeless people in Vancouver’s Marpole neighbourhood was met by residents who were angry there has been no consultation with the community on the project
http://www.metronews.ca/news/vancouver/2017/10/26/marpole-site-for-vancouver-s-second-modular-housing.html

Lost...but not leased
Lost...but not leased
2 years ago
Reply to  bullwhip29

Good scoop…..

Reading into the article I came across this “gem”.

QUOTE” ” City Council recently approved a bylaw change to allow temporary modular housing to be built without having to go through the long public hearing process,as long as the land in question does not have to be rezoned”.

WTF?

What about due process….???
Seems ilke Gregor and comrades have a new tool that what effectively is stealth zoning on Marxist demand…coming soon to a neighbourhood near you?!? How do you define” temporary.”..6 months….one year…12 years?

The COV has already f*cked up Marpole with those towers at Cambie/Marine and Granville /57th.

bullwhip29
bullwhip29
2 years ago
Combat roach
Combat roach
2 years ago

Spaceshit in action at the other site. 50c party strikes back… https://globalnews.ca/news/3823410/new-zealand-ban-on-foreign-home-ownership-gains-attention-in-b-c/ Robert Neville I love seeing comments by asians bragging about how much money they have. The more Vancouverites that see who they’ve sold their city out to, the faster we’ll start to do something about it. No matter how rich you are you still have to look at your faces and runty little bodies in the mirror every morning. Do you really think we’re envious of you when you drive down the street in your sports cars that you’re little heads can barely see over the dash of! All the money in the world isn’t worth being you. Like · Reply · 4 · Oct 25, 2017 9:10am Libertarian Safe Space Racists like Robert are why everyone NEEDS to vote Liberal in 2019. Eliminate this white supremacist scum.… Read more »

Combat roach
Combat roach
2 years ago

Comment from there…

https://globalnews.ca/news/3823410/new-zealand-ban-on-foreign-home-ownership-gains-attention-in-b-c/

Harp White

I think is time to apply for residence in New Zealand and move there since the country cares for its citizens.
I tried it all I could with school and working hard but I guess Vancouver wants to push average Joes like me out of here. I went recently to a new development at Lynn Valley by Bosa where the cheapest 2 bedroom condo shoebox starts from $875,000 to 1 million…yes for a condo which is not waterfront or anything fancy….
I am 100% that BC government will NOT change anything to influence negatively the real estate market….It took me 10 years to get that but I am a slow learner and not a hater.

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  Combat roach

He should apply, if only to find out that he’s ineligible.

Just me
Just me
2 years ago
Reply to  Combat roach

And here is the punchline from the article (or better, the punch in the guts of the voters who trusted the NDP to do something):

That push-back stops at the provincial government, which said foreign ownership of homes is not being considered as part of the budget 2018 planning.

“The province is going to have to act,” Davidoff said. “We have a new government that was elected largely on a platform of ‘do something about high housing costs.’”

Tom, do you really believe they will do anything that can seriously harm the lofty price valuations? The NDP is a turning out to be a joke. And a bad one at that.

KickThemOut
KickThemOut
2 years ago
Best place on meth
Best place on meth
2 years ago
Reply to  KickThemOut

Boring!

Wake me up when they have a Hiroshima moment.

kabloona
kabloona
2 years ago

This headline belongs in the Beaverton or the Onion, methinks….but instead it’s on CBC News.

😉

“Canada’s housing market ‘highly vulnerable,’ CMHC warns
Overvaluation detected in some markets, overbuilding in others”

http://www.cbc.ca/news/business/cmhc-housing-outlook-1.4373251

“The Canada Mortgage and Housing Corporation singled out housing markets in Toronto, Hamilton, Vancouver, Victoria and Saskatoon for being “highly vulnerable” for a combination of factors….”

Saskatoon…? I can understand, everybody wants to live in Saskatoon….

😉

None of this is the fault of CMHC, though….

🙂

As the motto for Fake_CMHC explains:

@FakeCMHC – Loading Canadians up with debt and having the tax payer on the hook since 1946.

Lost...but not leased
Lost...but not leased
2 years ago
Reply to  kabloona

Is it a coincidence that her(useless) Majesty’s “Commonwealth countries'”are collectively and concurrently being economically invaded by these mainland communists?…aka common thread ? were we set up ?…

KickThemOut
KickThemOut
2 years ago

With China’s top committee members set, it looks increasingly that Xi is gunning for to be the next Mao. China is going to be increasingly belligerent and chasing after glory. It’s up to Japan to stand up and assist US in ensuring a peaceful Asia. Good thing Abe just won a decisive election with a super majority. Japan is now finally in position to stand up for the weak countries in Asia, reunite 2 Koreas and make Korea great again, and join the Asian countries into a new coalition for a new golden age. Look for foreign money to accelerate and then taper off as China finds itself increasing cut off under a egotistic leader looking to be next Mao. How will Van RE react? Short term flipping are still likely to be viable, especially as the last push to… Read more »

Lost...but not leased
Lost...but not leased
2 years ago
Reply to  KickThemOut

Pearl Harbour 2.0 The irony of the Far East was the Japanese are historically demonized as it suits the propaganda mill. The USA effectively stole Hawaii from the natives….but the long term agenda,as Britain’s bitches at the time was a Pacific Base and a pending “false flag”. What the gullible don’t realize is the USA was itching to get Japan into a WW2, via a tripartate agreement that would force Germany into WW2 as an Axis(Japan) ally. Resource poor Japan was blockaded by the US fleet to near starvation,, and the US ..under FDR knew of the pending Pearl Harbour attack. They purposely left junk ships in Pearl Harbour..more modern ones were in the Pacific. Japan was, historically , always a superpower in the Far East, much more advanced than say Mainland China. Korea etc. Taking out Japan was the… Read more »

ostritch
ostritch
2 years ago

That was wacky.

southseacompany
southseacompany
2 years ago

“ECB to halve bond buying as it plans to scale back quantitative easing”, The Guardian

https://www.theguardian.com/business/2017/oct/26/ecb-to-halve-bond-buying-as-it-plans-to-scale-back-quantitative-easing

“The European Central Bank (ECB) is to begin weaning the eurozone countries off billions of euros of monetary stimulus, edging back to normality following the recovery from the depths of the sovereign debt crisis nearly a decade ago.”

Dave
2 years ago

I’m not sure how many people here follow the bond market, but we had a big jump in yields the last couple days. Long rates are starting to go up and that will affect rates here at home.

Good time to short German bonds IMO… 5 year bunds are negative. They’ll pay you to short them.

Lost...but not leased
Lost...but not leased
2 years ago

Isn’t this what QE was all about?
….. buryine the junk bonds and derivates , etc. in other exotic financial vehicles
…kicking the can down the road. = simply delaying the next ticking bomb?

What’s next..options on vital organs?

Raincity
Raincity
2 years ago

The NDP is against the policy of the New Zealand govt’s policy of banning foreign home buyers. Horgan made the statement this morning.

bullwhip29
bullwhip29
2 years ago
bullwhip29
bullwhip29
2 years ago
Reply to  bullwhip29

FULL TEXT: STEVEN CHASE AND ROBERT FIFE OTTAWA 24 MINUTES AGO The Chinese state-owned firm that is buying Canada’s largest publicly traded construction firm helped Beijing build artificial islands in the disputed South China Sea and was barred until recently from bidding on World Bank projects over “fraudulent practices.” China Communications Construction Co. Ltd., which announced it is buying Aecon Group Inc. in a deal valued at $1.51-billion, is making the acquisition through its overseas investment arm: CCC International Holding Ltd. The transaction must still undergo one, and possibly two, reviews by the Trudeau government. Karl Sasseville, a spokesman for Innovation Minister Navdeep Bains, said the takeover will be scrutinized to determine if it is of “net benefit” to Canada. Asked if the deal will also be subject to a national-security review, because China Communications Construction Co. is a state-owned… Read more »

Time to go
Time to go
2 years ago
Reply to  bullwhip29

Yeah, no red flags here! These guys seem legit!

Lost...but not leased
Lost...but not leased
2 years ago
Reply to  bullwhip29

Translation:

The $1 /day waged coolie built tunnel from China to Canada (under Vancouver City Hall ) is almost complete…..Justin Trudeau , Gregor Robertson and John Horgan are booking a photo opp in the Ribbon cutting ceremony.

Tunnel will then be directed horizontally to access the rest of Canada.

Lost...but not leased
Lost...but not leased
2 years ago
Reply to  bullwhip29

A family member lives in one of those retirement homes. company called .”Retirement Concepts”.
They have a LOT of real estate in BC…especially White Rock/ South Surrey area…..10 locations…( 5 in Alberta and interior.)

They have a deal with the Province,, whereby 20% of the cost of the the.rooms are paid for by the Province. (BTW..not cheap..cost is $6,000+ /month)

Now..if this company decides to convert their land holdings to other uses..you have no idea of what a HUGE shitstorm this will result in…aka could the Province, or local gov’ts stop them,???? and where would HUNDREDS of displaced seniors go ?

Stay Tuned…….this could be a huge mess

Diadora
Diadora
2 years ago
Reply to  bullwhip29

The Canadian politicians sure like dirty money, selling our country and soul so they can make a couple of bucks under the table.

bullwhip29
bullwhip29
2 years ago

Canada’s housing market ‘highly vulnerable,’ CMHC warns
http://www.cbc.ca/news/business/cmhc-housing-outlook-1.4373251

Lost...but not leased
Lost...but not leased
2 years ago

Re New Zealand…ban foreign buyers?. Political theatre…??? Close the barn door? Suffice it to say that foreigner have bought a fair bit of real estate….and the way I look at it they set the benchmark prices…..THEN the natives get restless and the Central Banks are literally forced to lower rates so the locals can dive in head first into a Bull(inflated) market. You will have a lot of offshore speculators who now do what…forced to sell to locals ? In the law of (un)intended consequences, does this create a bear market..if the catalyst for the bull market is removed, what takes up the slack. Then….the locals will be pissed off cause they can’t sell unless drop price…aka lose money The classic lesson is once the barn door was opened ….the horses have not only left, there is a huge pile… Read more »

Madashell
Madashell
2 years ago

Percentage of immigrants settling in B.C. still falling, census says
https://beta.theglobeandmail.com/news/british-columbia/percentage-of-immigrants-settling-in-bc-still-falling-census-says/article36722586/?ref=http://www.theglobeandmail.com&cmpid=rss1
Because our housing are too high and we are getting too many “Immigrants of Convenience”

Diadora
Diadora
2 years ago
Reply to  Madashell

And don’t forget about the 10 year visa, don’t have to pay income tax.

Oracle
Oracle
2 years ago
Reply to  Madashell

That’s a lie. They base stats on provincial PNP programs. Most coming into Sask for example end up here. Same for Quebec IIP. Etc.

Hyper-mega-Bull
Hyper-mega-Bull
2 years ago

Trump to Declare Opioid Crisis a ‘Public Health Emergency’

interesting that there is no mention of china… the major source of fentanyl.

https://www.nytimes.com/2017/10/26/us/politics/trump-opioid-crisis.html