Airbnb goes legit

Vancouver has approved regulations around short-term rentals and announced fees:

new rules take effect April 1, 2018

owners can rent out part or all of their principal homes; no secondary homes, secondary suites and laneway homes

must pay $49 annual license and one-time $54 activation fee

transaction fee of up to three per cent will be levied by AirBnb and remitted to the city

Read the full article here.

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Abdul Lahazi
Guest
Abdul Lahazi

Andrea Reimer, Vancouver councillor, faces eviction in city with vacancy near zero

https://globalnews.ca/news/3861420/andrea-reimer-eviction-vancouver/

Reimer said she’s been evicted 11 times, and that the latest incidence marks the second time in the past few months.

Hyper-mega-Bull
Member
Hyper-mega-Bull

hey patritoz, renters are winning right?

LMAO!

history
Guest
history

She can buy a used van for half the cost of studio monthly rent. All the money left over can go towards an economy that sorely needs it.

history
Guest
history

Where does Reimer go next? She can become immortal with her next decision, or just another nobody politician. I know what I would do.

bullwhip29
Guest
bullwhip29

ditto for Eby

Doomcouver
Guest
Doomcouver

She should live in a U-Haul locker. They seem cozy.

history
Guest
history

There’s gotta be 100 women her age living in their vehicles on the Coast. Reimer gonna step up and show how to piss in a jug.

Diadora
Guest
Diadora

There will be a million more people coming to immigrate in Canada in the next 3 years so supply will be absolutely ZERO… Thank you Justin, you trader!

Diadora
Guest
Diadora

oops….traitor!

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

I guess that’s what happens when you scream ” EAT THE RICH ” in Cantonese .

bullwhip29
Guest
bullwhip29

builders, developers and wannabee real estate kingpins will have to make some modifications to the blueprints now and make provisions for staircases, walls, foyers, mailboxes (which must be shared now) and doorways that can be hidden, retracted etc when or if needed so as to keep either a prospective tenant or city inspector satisfied. in other words, how to make self contained or even laneway suite “appear” as part of principal home if anyone ever checks.

bullwhip29
Guest
bullwhip29

i gotta say this is major rug pulled by city hall on all those owners who took the high road, followed moonbeam’s lead and built their over priced laneway homes or converted properties into legal duplexes, 3-plexs etc. now owners will have to divvy up the individual units while keeping everything in the “family” so to speak. as long as everyone remembers to consider the CRA when doing so this shouldnt take up much one’s time i figure. LOL, the owners of mega mansions, hotels, brothels etc knew what they were doing all along, huh?

bullwhip29
Guest
bullwhip29

EDIT:

…the owners of mega mansions, hotels, brothels etc… IN RICHMOND

dyugle
Guest
dyugle

Or they could switch to long term rentals.

bullwhip29
Guest
bullwhip29

sure they could but airbnb operators can effectively advertise to the whole world, charge whatever rate the market will bear and make as much in 4-6 months than they can renting out to longer term tenant which they might not be able to get rid of especially if fixed term leases are axed entirely.

BubbleTea
Guest
BubbleTea

Krusty and the Liberals plan all along was to sell “significant portion” of Metro #Vancouver to foreign multi-millionaires
http://vancouversun.com/news/local-news/clark-wat-met-hong-kong-developers-while-foreign-investor-debate-roiled-b-c/
This is treason against the people of BC!

Combat roach
Guest
Combat roach

Meeting notes for the “afternoon-tea with Hong Kong Investors” say: “This is an informal roundtable discussion with an intimate group of long-standing investors and donors in the Vancouver economy. Many of these investors have real estate holdings in Vancouver worth several billion dollars.

This must be a big lie, probably planted by some racist, because common knowledge and statistics tell us that foreign factor is negligible in Vancouver and that RE shitshow is mainly run by locals?

YVR
Guest
YVR

Actually the meeting was with developers who build and then sell condo. Obviously encouraging them to build condos here makes sense as it creates more supply. Better than government funded temporary shipping containers. Note regardless of what the BC Liberals told the developers they implemented the foreign buyers tax which did cool the market. What exactly has the NDP done or even committed to doing? NOTHING.

bullwhip29
Guest
bullwhip29

other than shaking out a few weak handed owners (many of whom were locals) the FBT did nothing. most certainly krusty highlighted the various loopholes that were left in place and also gave them a heads up that even more rules were to be relaxed on Chinese New Years. in other words many foreign buyers who would be exempt just a few months down the road simply ignored the rules and proceeded to front run the announcement. and we can go on about the first timers loans too. seems to me developers were somehow ready and waiting with plenty of product to unleash on the public.

kabloona
Member
kabloona

More great reporting by Sam Cooper…..

😉

Kudos!

Best place on meth
Member
Best place on meth

….says everyone except Garth Turncoat.

Thanks Sam, you’re a saint!

bullwhip29
Guest
bullwhip29

Bosa office tower sells out at $2,000 per square foot
https://www.biv.com/article/2017/11/bosa-office-tower-sells-out-2000-square-foot/

“I simply don’t believe it,” said Ozzie Jurock, a noted Vancouver real estate consultant and investor

history
Guest
history

fear of impending annihilation…

Doomcouver
Guest
Doomcouver

Maybe Istuary Innovation Group will move in. They don’t pay their employees so they probably have lots of money for $2000 per square foot office space. https://globalnews.ca/news/3771076/employees-at-vancouver-tech-startup-say-they-havent-been-paid-in-months/

Abdul Lahazi
Guest
Abdul Lahazi

The owners were too busy buying houses in Coquitlam:

http://nationalpost.com/news/canada/b-c-firm-developing-tech-startups-in-china-accused-of-fraud-not-paying-employees

“the lawsuit alleges the funds were used to purchase two residential properties in Coquitlam, B.C.”

patriotz
Member

As the story notes, they can make a lot more money at less risk by selling stratas than by renting the units out to tenants. The same reason why developers build residential condos rather than rentals.

Why complain? More income tax revenue for the developer, and more property tax revenue from the strata owners.

bullwhip29
Guest
bullwhip29

The corporation that operates River Rock Casino in Richmond has filed a last-minute court action seeking to block the release to Postmedia News of government documents concerning allegations of money laundering in B.C. casinos
http://vancouversun.com/news/local-news/river-rock-casino-operator-files-court-challenge-of-document-release-to-postmedia

YVR
Guest
YVR

Makes you wonder with all this information at hand why the NDP are studying the issue with a single consultant?

bullwhip29
Guest
bullwhip29

at the very least the story is out there now. if the powers that be proceed to pour cold water over it going forward we all know that issue is way out of control (and nothing that should come as any surprise too). either the story blows up entirely OR it is covered up.

Doomcouver
Guest
Doomcouver

I have a feeling the perception of Vancouver as a “safe haven” for illicit overseas money is going to be taking some damage soon. If we see some high profile arrests you may see some capital flight out of Vancouver from some very sketchy people. Or nothing may come of it… but it does feel like it’s building towards something big. Vancouver policy in general is becoming increasingly hostile to the “parking” of overseas money in our property market.

dyugle
Guest
dyugle

This can be addressed at the civic level by getting the city to tax all properties at the business rate except for principle residences. Residential real estate for residents not investors.
Civic elections next fall.

patriotz
Member

This would require a Charter amendment by the provincial government as did the empty homes tax. Not going to happen, because the last thing we need is a disincentive to own bona fide rental properties. It would result in existing rentals being torn down and replaced by condos.

Dyugle
Guest
Dyugle

There can simply be another Class added to the assessment act called “eligible principal residential property”. This is the only action required by the B.C. government. That would create two classes of residential property. The tax rate for each class is set by council as the charter states “adopting the rating by-law, the Council must consider the rates of levy proposed for each property class”.
For the B.C. government shifting the burden to the civic government is an easy way out for them as they don’t have to act directly but they are seen as doing something.

Dyugle
Guest
Dyugle

Additionally the federal government has a separate class for principal residences in the capital gains excemption.
Provincial income taxes are based in a % of federal income tax which gives implied Provincial concent for a separate class of property. Thus the distinction may be legally extendable to the civic level. The argument is both senior levels of government accept the separation of principal residential property from residential property class.

Woowwee
Guest
Woowwee

Lotsa foreign exchange shops have popped up over the last 10 yrs here….one of the avenues to move $$… my wifes sister works at one in DT Van which got raided this week. She says millions get washed there every week … Wooohh man shits hittn the fan

Super Oracle
Guest
Super Oracle

Their individual ‘foundations’ are racking in the dough!!!

southseacompany
Member
southseacompany

“‘Sort of sad’: Home Capital’s core mortgage business plunges 85% amid crisis fallout”, BNN

http://www.bnn.ca/home-capital-s-profit-falls-more-than-half-in-q3-1.915915

“The embattled lender reported an 85-per-cent plunge in mortgage originations in the three months ending Sept. 30, with $385 million in new loans compared to $2.54 billion a year earlier.’

history
Guest
history

See Ozzie, above

Doomcouver
Guest
Doomcouver

They’ll be out of business in the next 5 years. They’re getting hit with a 1-2 punch of spooked investors, and trouble in the mortgage market. They’ll definitely be the first financial institution to go insolvent when the mortgage bubble pops.

BubbleTea
Guest
BubbleTea

Vancouver real estate board threatens ThinkPol with lawsuit to protect foreign buyer privacy
https://thinkpol.ca/2017/11/15/vancouver-real-estate-board-threatens-thinkpol-with-lawsuit-to-protect-foreign-buyer-privacy/
This is incredible, who does the RE cartel think they are and where is the NDP. Hello Greens, its time for you to step up.

Doomcouver
Guest
Doomcouver

The REBGV is rotten all the way through. This doesn’t surprise me.

Best place on meth
Member
Best place on meth

“Prominent Vancouver litigator Paul Doroshenko responded[3] to REBGV’s lawyers on ThinkPol’s behalf asking them to show exactly why our actions are “unauthorized and illegal” as they claim.

“You state in your letter that the cited journalistic reporting of ThinkPol Media Inc. is ‘unauthorized and illegal.’” Doroshenko wrote. “Based on your letter I cannot determine how the cited article is unauthorized and illegal. Simply put, you have made a bare accusation without referring to any law which has been violated or case law to Support your allegation.”

Real estate board scum, what say you?

Bear Vancouverite
Member
Bear Vancouverite
The Airbnb regulations paired with the Empty Home declaration/tax will be an important factor in helping affordability and availability of units IMO. Many who were opposed to the regulations stated they relied on Airbnb to make ends meet, so Airbnb definitely enables some of the 6000 units in Vancouver to have been purchased by people who would otherwise not have been able to afford the purchase price. I hope and believe this will change the calculus of any would be speculator who thinks they can fall back on Airbnb if they fail to rent their unit or those FOMO homeowners who think they will just rent out a few rooms to make ends meet: some will definitely be deterred by the registration and licensing process. As I said previously, platforms like Airbnb could potentially hand over decades of detailed earnings… Read more »
Lost...but not leased
Guest
Lost...but not leased

I had predicted this, but still don’t get what VISION is up to.
What’s next ?….people opening restaurants in their homes or condos ?

My guess is that AirBnB had some legal clout which scared COV…
I don’t agree with the concept as it impacts legitimate Hotels etc and as noted above simply enables people to fund their real estate habit.

Hyper-mega-Bull
Member
Hyper-mega-Bull

lol. you haven’t learned anything from the past 17 years, have you?

AirBnB was completely 100% illegal in vancouver yet the city had a huge problem. now that it is legal under some circumstances what makes you think it will get better?

in the sinosphere only fools follow the rules. do what you can to get ahead or be left behind.

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

Mayor Moonbeam/Manchurian candidate and VISION are probably a good indicator of the future for Provincial NDP..

All talk..blah blah blah….when SHTF and “Rubber meets the road”….they fold like a Walmart tent…the skid$ get grea$ed…and they exit the mess they either created or lied about fixing with the classic response of more FEES/TAXES/PERMITS and drumm rolll more bureaucracy.

Hongcouver..U R DONE like Peking Duck !!!

patriotz
Member

“AirBnB was completely 100% illegal in vancouver”

No it wasn’t. First it was (obviously) legal for any hotel or motel type property. Second it was legal for any licensed B&B, which have been around in Vancouver for some time.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Good old patritoz. Missing the forest for the trees since 2005.

Bear Vancouverite
Member
Bear Vancouverite
@history posted in the previous thread that Greek Airbnb users were evading the Airbnb fee and any city taxes by paying outside of the platform. I’d like to nip this “loophole” fearmongering in the bud. Platforms like Airbnb rely on their rake (the fee on transactions) to monetize their business. Cities like Vancouver who can tax rentals right on Airbnb are creating the most bulletproof way of taxing Hosts because any loopholes, or evasion will be enforced by Airbnb itself. Platform businesses all work very hard at capturing as many transactions as possible right on the platform. In fact, I am pretty sure Airbnb has a team dedicated to ensuring guests and hosts transact on their platform. This means the City’s and Airbnb’s interests are fully aligned in that both want transactions to go through the platform and both want… Read more »
Hyper-mega-Bull
Member
Hyper-mega-Bull

you’re right when you say transactions outside the platform are not an issue. you’re wrong when you think that short term rentals are going to do anything other than increase.

in-fact, i predict they will explode.

Super Oracle
Guest
Super Oracle

I know talking about this is a taboo but…

Single women who are renting that are evicted will have a tough time finding and/or paying for a new rental. They will have to turn to the sex trade to make ends meet. Or return favours for rent assistance to landlords. This scummy behaviour happens in the third world. Already here thanks to Justin trudeau’s open immigration policies. We need a Trump here fast!!

Sad state of Vancouver. Very surprised there isn’t a massive uprising. Me thinks that the power of media (in Canada) is total. Just like how religion controlled people in the past.

Abdul Lahazi
Guest
Abdul Lahazi

You are a real sicko.

Combat roach
Guest
Combat roach

“Single women who are renting that are evicted will have a tough time finding and/or paying for a new rental. ”

… and inevitably become a prostitute as the only choice to survive. Should you change the shtick a bit? Blog folks are right, it is now becoming senseless and tasteless, not entertaining anymore.

Shut It Down Already
Guest
Shut It Down Already

I can’t believe that 6 people even understood this post let alone agreed with it enough to vote it up.

specuskeptic
Member

I mean this in the sincerest, friendliest possible way so that you may remain receptive to the message. Please fuck off.

realist
Member
realist

Oracle, your suggestion that more women in Vancouver could be drawn into the sex trade in order to secure or pay for accommodation is not to be dismissed. Prostitution has already been established by young middle class women as a “viable option” to defray student debt.

Super Oracle
Guest
Super Oracle

Some mentally challenged on this blog simply can’t think ( i.e. specku, abdul).

It happens overseas but and is accepted but is never openly talked about. Its like turning your head away from a starving homeless person thinking he will not exist then.

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

True…..
…..and mostly law and political science students…
…literal and figurative whores../

Dave
Member

We’re all going to be in the sex trade before this bubble bursts.

Re-elect John Horgan if you want John’s to make you a whore again.

Guest
Guest
Guest

Why would you want Trump? He will remove NAFTA harm Canadas economy.

Oh NO
Guest
Oh NO

BYe BYE dual agency

bullwhip29
Guest
bullwhip29

wrong. two agents in same firm can partner up and pull off the same stunt

Super Oracle
Guest
Super Oracle

even dual agency today is done like this….both ends qualify for errors and omission insurance.

bullwhip29
Guest
bullwhip29

Selling off entire strata properties now easier
https://www.straight.com/news/995281/selling-entire-strata-properties-now-easier

>>> who would have thought that the most toxic, leaky and ageing condos would become the new play thing for real estate gamers? this is a sure sign we are deep into the final innings when speculators are simply banking on making money on the backs of a rezoning, re-development or material policy change to unlock hidden value versus the old school way of simply finding another buyer to pay more than you did for a home to simply live in

patriotz
Member

Licence suspended for B.C. Realtor accused of ‘predatory’ rent-to-own scheme. Kevin Bratch allegedly targeted homeowners on brink of foreclosure with restrictive, misleading deal

“Mr. Bratch [allegedly] bought their homes at an under-value, on the basis that they could continue renting their homes, and opt to rebuy their homes. But the terms were highly disadvantageous, to the point of the ‘rent to buy’ program being ‘predatory’ in nature,”

These people should have just sold and pocketed the equity. This is the sort of thing that happens when people are desperate to “own” at all costs.

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

Good thing the realtor is a white guy or else he may get lynched..

…..remember only white people are racist and corrupt, ……so more immigration will fix this rampant round eye corruption.

Best place on meth
Member
Best place on meth

Kevindeep?

White guy?

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

A joke..

If he was white, the SJW would be screaming more then usual.

paulb
Member
Trusted Member

New
252
Price Change
56
Sold
171
TI: 9592

http://www.clivestevepaul.com

Kim
Guest
Kim

http://vancouversun.com/opinion/op-ed/opinion-surtax-needed-to-bring-fairness-to-vancouver-real-estate

I think everyone should send this article to Horgan, Eby and whats her name housing person. This succinctly says it all.

Just me
Guest
Just me
Great Job Josh. This sums it up nicely: “. Suppose you wanted buy an expensive house in a premium neighbourhood, such as Point Grey. If the house cost around $2 million, which is at the low end, then your household income would need to be around $300,000 at current interest rates with a 20 per cent down payment. Your household would pay $90,000 to $110,000 in income taxes each year. On top of that, you would pay property taxes of around $6,000. And then you would pay various sales taxes and government fees or premiums. Not exactly chump change, but you’d be wealthy, so you could manage. In return for that money, you would get to live in a beautiful, safe neighbourhood, with modest traffic, and social services of various kinds to support you — the latter of which keep… Read more »
Just me
Guest
Just me

And yes, take 10 minutes out of your busy schedules and share this article with Eby and your MLAs.

Super Oracle
Guest
Super Oracle

When $$$ flowing into relatives overseas numbered accounts, not much likely to happen.

Shut It Down Already
Guest
Shut It Down Already

Numbered accounts, eh? How novel – mine still uses hieroglyphics.

Just me
Guest
Just me

Fault of Vancouver’s short-term rental rules is enforcement.

http://vancouversun.com/news/local-news/fault-of-vancouvers-short-term-rental-rules-is-enforcement

Staff plan to use “screen-scraped” data — that is, information pulled from websites — to identify postings by unlicensed hosts. Then, they will use “multiple data sources” as well as the screen-scraped data to identify the host’s location and unit.

A report to council notes screen-scraped data “cannot accurately be used to determine an address in multi-unit buildings.” It is unclear how such units would be identified and an interview with city staff did not clear that up. A request for clarification of what data sources the city planned to rely on yielded no further information.

If staff still cannot identify the host, they could “consider making a booking and visiting the unit to collect evidence” or seek a court order to require a short-term rental platform to share its data, according to the city.

Just me
Guest
Just me

AirBnB: behind the folksy facade, a ruthless international corporation squeezing every last dollar out of housing.

In Aloni’s mind, Vancouver’s success depends on the cooperation of short-term rental platforms. But as the city noted, no short-term rental platforms have been willing to share the private information of its hosts.

Many cities require hosts to be licensed or registered, including Austin, Nashville, New Orleans, Portland and San Francisco. Earlier this year and after a legal battle, Airbnb agreed to turn over host registration information to San Francisco city officials. Disclosure of information was not court ordered and the agreement did not set a legal precedent, Aloni said.

Alex Dagg, an Airbnb spokesperson, said the company looked forward to supporting Vancouver “through this new chapter of regulation.”

Really? We will see.

ostritch
Member
ostritch

We used AirBNB last summer and it was a bit of a sleazy affair. Like everything in the sharing economy it’s best when it’s young. Now there are a lot of people who sign up at the last minute with no references and they are not completely honest. We put non-smoking/no young children (because of a dangerous glass door)/no partiers and heard from all three. People don’t read and don’t care. The smokers that took our place said they had to lie otherwise they’d never get a place. Unbelievable.

Just me
Guest
Just me

And this is why more supply is NOT the answer. From the brilliant Josh Gordon article.

Is it any wonder that vast numbers of wealthy foreign individuals want to buy property in Vancouver? Is it any wonder that we can’t build enough to meet that global elite demand?

Just me
Guest
Just me

Given our faulty tax system, all the talk about solving the housing crisis with “supply” measures is futile. We have been trying that strategy, hamster-like, for years — as developers have wanted — and it has failed.

It’s tempting to blame people who take advantage of this red carpet offer. But if you made your money in a capricious authoritarian country, you’d probably want to take the offer, too.

The problem is that governments have allowed this to happen on a mass scale. At a minimum, six to eight per cent of all housing in Vancouver has been bought on this basis, due to poorly designed investor immigration programs.

Super Oracle
Guest
Super Oracle

Get into a cash business. Let someone else be the sucker. You should not be paying more than an astronaut family.

Just me
Guest
Just me

Wealthy investor immigrants paid an average annual income tax of $1,400, according to a 2014 government of Canada report. And governments continue to allow this to happen, because they have so far refused to implement a straightforward fix to our flawed tax framework: Introduce a large annual property surtax that can be offset by income taxes paid, with concessions given to older folks who don’t work anymore and those who have paid a lot of income tax in the past.

Shut It Down Already
Guest
Shut It Down Already

Link?

Just me
Guest
Just me

From Josh Gordon’s article.
Make a fool of yourself and drop him an email.

Self-interested lying prick, you are.

bullwhip29
Guest
bullwhip29
YVR
Guest
YVR

So did David Eby. What ever happened to David Eby?

ostritch
Member
ostritch

Sounds like all the grannies and grandpas will rush in then with the students. No thanks.

Just me
Guest
Just me

The logic is simple: If you’re wealthy and you want to live comfortably in Canada, you either pay your fair share in income taxes or you pay in property taxes. It can be one or the other, but you can’t dodge.

If the policy is so obviously fair, why hasn’t it been introduced? The best I can tell, there are some administrative kinks to deal with, and governments are concerned that such a move would reduce property prices, by curtailing foreign ownership, and this might lead to economic turbulence.

While I am sympathetic to such concerns, this is tantamount to saying that the B.C. economy is somehow dependent on tax avoidance.

Super Oracle
Guest
Super Oracle

Another face palm.

They already know that supply is not the answer.

Just me
Guest
Just me

The NDP was largely elected in Metro Vancouver: Housing was the top issue in the election and the NDP promised to tackle foreign speculation with a property surtax. This is still early days for the new government, and they should make sure to design the surtax properly. But a lot is at stake. They can either do the principled thing they were elected to do or they can sell out many of their supporters and miss a generational shot at fixing our housing market.

Super Oracle
Guest
Super Oracle

“This is still early days for the new government…”

Face palm man.

Hard time adjusting to the divorce? Face reality dude.

bullwhip29
Guest
bullwhip29

BC Liberals said ICBC had an $11M deficit, but it was really $1B
https://globalnews.ca/news/3863586/icbc-deficit-billion-dollars/

>>> in Eby’s defense, it would seem his plate overflowing with more all you eat shrimp than most could handle and it is doubtful anyone else in the NDP would have even the faintest clue of how to deal with it all. housing and the toxic mess it is saturated with is just the tip of the iceberg. folks, it appears much like the whole system is rotten to the core and certainly in much worse a state than advertised

Best place on meth
Member
Best place on meth

The swamp in BC is extremely deep and filled with all kinds of nasty Liberals, real estate industry slime, developers, communist chinese kleptocrats and other forms of serpents and vermin.

Doomcouver
Guest
Doomcouver

High interest rates will drain the swamp on a lot of this garbage. There’s all sorts of nasty creatures swimming around in all this cheap liquidity. Forcing China’s interest rates higher would definitely be the poison pill for their lending market.

Super Oracle
Guest
Super Oracle

Easy fix…figure out where the money is going and simple solutions.

Money going to Lawyers: Introduce No-Fault insurance. Will reduce cost of Dr reports as well.

Money going to Body Shops: Have in house estimators.

Money going to Autoplay brokers: Have online renewals

There. Fixed it.

Unless there are kickbacks, then can’t be fixed 🙂

Doomcouver
Guest
Doomcouver

I’d really like to see numbers on how many crashes are caused by drivers only with Chinese drivers licenses. ICBC should have let the RCMP do their job and invalidate Chinese licenses. They’re not worth the paper they’re printed on and often fraudulently obtained. http://www.cbc.ca/news/canada/british-columbia/chinese-drivers-licences-now-accepted-by-b-c-rcmp-1.2620524

Just me
Guest
Just me

You will never see that in Canada. We were a society based in the rule of law. But race seems to trump law lately.

bullwhip29
Guest
bullwhip29

and what would stop them from driving with an invalidated licence? or no license at all? or for that matter, with no insurance too?

bullwhip29
Guest
bullwhip29

Richmond cash starts design work on new Canada Line station
http://vancouversun.com/news/local-news/richmond-cash-starts-design-work-on-new-canada-line-station

>>> Michael Ching Mo Yeung is the man…

Doomcouver
Guest
Doomcouver
Just me
Guest
Just me

And a friend of the Liberals (both BC and Federal). He gives them money, they oblige.

Trudeau should be more careful about his Chinese acquaintances in B.C. frequenting criminals is not condoned just because they are from different ethnic groups.

It is not a sign of an open society, it is a sign of corruption.

bullwhip29
Guest
bullwhip29

at this rate No 3 Rd will begin to resemble the Las Vegas strip complete with a hodge podge of garish billionaire vanity projects trying to one-up each other and more “paid for” Canada Line stations located meters away from existing stations. looking further out I am betting Richmond (with their wild west mentality) gets their cruise ship terminal which will be located somewhere in this vicinity (near hotels, casinos, transit, YVR etc) with additional Cda Line stations slated for SE Rmd and south of the tunnel/bridge eventually reaching as far as Tsawwassen mall and the ferry terminal. naturally all the blank spots in between will be filled with more homes, townhouses and condos

Shut It Down Already
Guest
Shut It Down Already

“Capstan was one of four stations that were planned for the Canada Line to be built later when they were needed.”

For those who cannot read.

bullwhip29
Guest
bullwhip29

nice try. do a little homework on how the casino, various RE projects, the cda line, olympic oval and subsequent involvement in the games itself was put together before you start shooting your mouth off. the various financial players were always there from the beginning but 10-15 yrs ago these extra stations wouldnt have passed the sniff test nor would they have been completed in time. imho this will look very much like the Vegas strip in due time. and for anyone that is wondering, all the key spaces on the game board were spoken for a long time ago.

Shut It Down Already
Guest
Shut It Down Already

Nice try, yourself. Read your own fucking link next time.

Two of the four possible stations aren’t even in Richmond, and Capstan Way wouldn’t be an unreasonable stop given the other inter-station distances along the route.

You’re just engineering things to whine about, as usual. Have you even been to Vegas?

Abdul Lahazi
Guest
Abdul Lahazi

There are a lot of these Chineeze criminal characters rolling around in Vancouver. Canada welcomes them with open arms.

bullwhip29
Guest
bullwhip29

Leonardo da Vinci Painting Sells for $450.3 Million, Shattering Auction Highs
https://www.nytimes.com/2017/11/15/arts/design/leonardo-da-vinci-salvator-mundi-christies-auction.html

>>> just for $hits and giggles…

Doomcouver
Guest
Doomcouver

The asset bubble definitely extends to more than just housing and stock markets. Fine art prices have become extremely volatile as of late. That painting may go from 450 million to 45 million within our lifetimes.

http://www.zerohedge.com/news/2017-03-22/art-bubble-pops-sales-crash-lowest-point-great-recession

bullwhip29
Guest
bullwhip29

this proves that simply acquiring ownership of the asset is the key. price is irrelevant when the money itself was created out of thin air (and in this case from china yet again) and your biggest worries in life are having to do without and running out of time to spend said funds

Shut It Down Already
Guest
Shut It Down Already

Wow, you not only know the identity of the buyer but also the source of their funds! Well done, you!

Just me
Guest
Just me

Prove him wrong, you sycophant.

Shut It Down Already
Guest
Shut It Down Already

You’ve no idea what that word even means.

bullwhip29
Guest
bullwhip29

and wait for it, someone will eventually pay this kind of money for a strategically located waterfront estate somewhere in one of gr vanc’s name brand neighbourhoods. there is simply too much funny money sloshing around for this not to be the case.

Abdul Lahazi
Guest
Abdul Lahazi

Here you are folks, right from the dog’s mouth:

https://www.nytimes.com/2015/11/18/arts/international/with-modigliani-purchase-chinese-billionaire-liu-yiqian-dreams-of-bigger-canvas.html

He added, “The message to the West is clear: We have bought their buildings, we have bought their companies, and now we are going to buy their art.”

Abdul Lahazi
Guest
Abdul Lahazi

PS: So AIDS doesn’t get into a lather I’m not saying this “art connoisseur” bought this specific painting.

Abdul Lahazi
Guest
Abdul Lahazi

And how does a taxi driver and a duck farmer legitimately amass billions of $ without being involved with criminals? And with no educations and no business acumen?

Combat roach
Guest
Combat roach

He said he was lucky. It all comes down to some good feng shui at the parking, few eights on his licence plate and that crap tassel lucky knot ornament hanging on the rearview mirror in his taxi.

ostritch
Member
ostritch

Screw AirBNB, this is a BIGGER STORY

https://thinkpol.ca

ThinkPol gets sued by wealthy real estate board for breaking foreign buyer story.

ostritch
Member
ostritch

ThinkPol ends with a plea for funds. They’re gonna need it. Here is the downside of the collapse of the traditional MSM. A collapse they themselves caused when they gave up on investigating and reporting real abuses in this city.

kabloona
Member
kabloona

I must say, I think Sam Cooper is doing a great job of reporting on Real Estate, Money Laundering, Graft, and (ex) Politicians (like Krusty) over at (gasp!) the Vancouver Sun….

There, I said it.

😉

bullwhip29
Guest
bullwhip29

NY TIMES: He Promised Riches and Entry to Canada. Now He’s the Subject of a Fraud Case in Vancouver
https://www.nytimes.com/2017/11/16/world/canada/canada-immigrants-fraud.html

Combat roach
Guest
Combat roach

Do you get a better marketing pitch for attracting and bringing all kinds of scummy locusts here? This one says it all.

“Mr. Oei has denied the accusations, but even if he is found to have committed fraud, he will face financial penalties only, not jail time.”

Just a small risk of the increased cost of business. Governments and authorities, do open fucking gates even wider, we need more of those shit!

Just me
Guest
Just me

Why do we have to read this in the NY Times? Where is our local press (Vancouver Sun!) when it comes to covering this sensitive topic. Are we so scared of being perceived as racist that we avoid dealing with serious crimes?

Abdul Lahazi
Guest
Abdul Lahazi

Fraud is a part of the mainland Chineeze culture. This is well known and it is surprising that the Chineeze have any trust in each other. I guess their greed goes before their common sense. That whole country is built on a fraud and a sham.

Combat roach
Guest
Combat roach

You could see that cultural pattern long time ago in the old Jackie Chan movies where all action and point is in screwing and taking advantage of each other in the most dumb, ordinary way. It is their operational folklore.

Diadora
Guest
Diadora

Mr. Oei, a prominent immigration consultant and philanthropist, ran an elaborate fraud scheme, pocketing nearly $6 million from investors, including many Chinese citizens led to believe their investment would help them secure permanent residency in Canada. Instead, the authorities say, he spent the money on luxury cars, beauty pageants and donations to the British Columbia Liberal Party.
https://www.nytimes.com/2017/11/16/world/canada/canada-immigrants-fraud.html?platform=hootsuite

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