Happy black Friday, let’s do our regular end of the week open topic discussion thread for the weekend.
It’s Friday Free-for-all time!
What are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!
Gov’t( IN)action ? I submit to the premise of inverse proportions..ie Gov’t wil focus more on distracted drivers and waiters not claiming tips than on the millions of dollars of dubious sources sloshing around. High probability…… In the “Deep” Gov’t bunker ……are all sorts of flow charts that profile the trail of these millions of dollars from A to Z. ………think of a spider web that has all sorts of intricate and interwoven connections that reach right up to the politicians and other elites…they either know or should have known much of the money was “dirty”, In addition, these elites have undoubtedly benefitted from this money..directly or indirectly..whether it be in brown paper bags , campaign contributions etc. You can bet major exposes’s are in the works. This RE issue has crept up and the Tsunami is building. Part of… Read more »
“I submit to the premise of inverse proportions..ie Gov’t will focus more on distracted drivers and waiters not claiming tips than on the millions of dollars of dubious sources sloshing around.”
This is true. And a justification comes from the very words of our previous Premier (in her televised address before the election last Spring): I will fight until the end to preserve the hard-won equity of property owners in BC.
In practice, the BC Libs let the flow of illegal money undisturbed, as they fully realize that money would push up RE valuations.
“I will fight until the end to preserve the hard-won equity of property owners in BC.”
Then Horgan came out with pretty much the same quote of his own.
“Housing is a critical component of many people’s equity and their retirement prospects, and we want to make sure we don’t adversely affect the marketplace,” he said.
http://www.cbc.ca/news/canada/british-columbia/horgan-udi-talk-november-2017-1.4404369
That is just rhetoric.
CBC and you left out an important part. He actually said ““Housing is a critical component in many people’s equity and their retirement prospects,” NDP leader John Horgan said this week, “and we want to make sure that we don’t adversely effect the market place. What we want to make sure is we get speculation out.””
The NDP come out with higher fines for distracted driving which probably make no difference. If they wanted to reduce traffic injuries and fatalities they would allow Uber or other ride sharing. How many people will be killed by drunk drivers this holiday season due to Horgan breaking this election promise? He should be charged with murder for each death.
He should be held responsible for deaths caused by people who get behind the wheel drunk after a Christmas party?
Wow. I just….I don’t……holy fuck.
Has Sketchy kidnapped the Admin? Serious question.
Where is FFA?
Pope must be busy dealing with the mohican “problem”.
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Thank you Paul. The only thing crashing is inventory and the sketch meister’s credibility.
First day of the month and inventory always goes down at this time of the year. New listings are much higher compared to last year.
I agree. It is promising that listings are holding up. Especially for SFHs, the time on the market has shot up in the past 18 months.
As BPOM mentioned, greedy sellers are trying to beat the OSFI new rules. Moreover, when they cannot get the money they ask for, they relist at almost the same price as before, thinking that people won’t notice. Greed is prevalent: sellers now think that two million dollars are peanuts.
Ten years from now, you will be still sitting here bitching the same thing. Except, your one hand is on the keyboard, the other is cleaning your fake denture, and your brain still asks where the NDP is.
Who wants to sue the government with me? Class action lawsuit, anyone? The government has knowingly and with intent been picking winners and losers.
Notice all the “thumbs down” hits whenever the TREB ruling is discussed. Must be a lot of unhappy realtors on this site, or highly leveraged owners.
It’s just mohican, the pathetic lowlife loser.
Voting multiple times is a poor substitute for sex with an actual woman, but it seems to get him off just fine.
Finally, something you’re an expert on.
Sex with women? Yeah, let me know if you need any tips, I would imagine you’ve had some difficulty meeting any ever since you had charisma bypass surgery.
Neighbour finds ‘Vancouver special’ turned into commercial Airbnb hotel.
“All you have to do is Google ‘new laneway Vancouver Airbnb’ and you’d be surprised at how many listings come up because people actually say in their listings ‘newly built laneway house,” Rodrigues said.
The Vancouver special now has a “hotel-like entrance” with a sign that reads “Welcome to the Aviary, an Airbnb” and is allegedly connected to the laneway house in the back.
One of our blog members will likely not be here tonight, as they are out celebrating their special day.
Please join me in congratulating them on their 29th!
Yet another Friday night alone for you then?
Federal Court dismisses TREB’s appeal – Toronto buyers to get their sold data soon
The better realtors will quickly be all over this ruling, helping consumers with the information they deserve to know, instead of trying to keep them in the dark.
Our own Paul B has been way ahead of the curve in this respect.
The sore losers are appealing to the Supreme Court of Canada. Wow, Treb is even worse than I thought.
What a bunch of greedy bottom feeders.
Here’s Turncoat on the court ruling to force real estate boards to open up their data: “It’s taken six years and a massive pile of court documents, but the real estate cartel’s stranglehold on information has finally been broken. The federal Court of Appeal upheld a previous ruling that TREB (and, by extension, every other real estate board in the country) must allow its members to freely publish consumer-friendly stats and related data, the way the enlightened realtors in Nova Scotia do. What this means: expect progressive agents and real estate marketers to start publishing the sold prices of houses, sales histories including expired or renewed listings, days-on-market, price reductions or increases, pending sales as well as broker commissions. Dashed have been the real estate cartel’s arguments that this is proprietary data and revealing it would encroach on the privacy… Read more »
‘More to come’ on money laundering allegations, B.C. attorney general says
http://vancouversun.com/news/local-news/more-to-come-on-money-laundering-allegations-b-c-attorney-general-says
“Eby suggested that a “lax attitude” towards regulation of B.C. casinos, during a period when the previous government had enjoyed “massive increases in provincial gambling revenue,” seems to have contributed to the problems today in B.C.’s gambling system.
Eby pointed specifically to a decision by the B.C. Liberal government to cancel funding of police unit that tackled illegal gambling, after the unit identified concerns with organized crime influence in B.C. casinos and proposed changes “to improve the ability of the existing policing team in identifying and prosecuting offenders.”
WHERE’S EBY!!!
Sorry, I mean where’s Krusty! I want her fucking head on a spike.
Aiding and abetting a crime such as money laundering is a criminal offence and those politicians who knowingly did that should be charged as accomplices.
Do you mean Christy Clark? She was the one who took the decision to shut down the special police branch in charge of policing casinos. And she did it after being informed of what was going on in there.
I suppose she thought the money was always good, and would help inflate our real estate market and make a few of her people richer.
Still, she’s a criminal.
Charges should be laid and a trial should commence.
What about Eby? He has done the exact same thing. Are you guys really this stupid or just too partisan to see what is going on?
On which planet are these the same things? Christy Clark hid the whole mess and made it worse. Eby has finally started the clean up and just announced new legislation (possibly also a special police branch)to,deal with it.
What are you on about? This is just as black and white as it gets.
Are actually excusing the criminal behaviour of the BC Libs?
This is Eby’s chance to act on real estate. Horgan doesn’t want him to which is why he put an idiot in charge of housing.
His biggest resistance will be internal.
So far it looks like he wants to do the right thing. You wouldn’t use the language he did if the intent was to bury the issue.
We’ll see if he can be bullied by Horgan, or not.
Bring on charges to both Eby and Horgan.
“Eby pointed specifically to a decision by the B.C. Liberal government to cancel funding of police unit that tackled illegal gambling”
So why has Eby not reinstated such unit? Six months in and same policy and no extra policing. More studies by hired consultants with no power to press charges.
He’s beating around the bush. Distracting his loyal followers with BS. Tackle housing and there would be no push to launder at casinos.
“Distracting his loyal followers with BS”
As opposed to distracting everyone on this blog with BS.
The Vancouver Model (read below)
‘More to come’ on money laundering allegations, B.C. attorney general says. Attorney General David Eby says he was stunned by internal briefings about the alleged reach of transnational organized crime groups into B.C. casinos.
“One of the members of the public service said, ‘Get ready. I think we are going to blow your mind.’ While I cannot share all of the details, I can advise you that the briefing outlined for me allegations of serious, large-scale, transnational laundering of the proceeds of crime in British Columbia casinos,” Eby said. “And I was advised that the particular style of money laundering in B.C. related to B.C. casinos is being called quote, ‘the Vancouver model’ in at least one international intelligence community.”
Eby suggested that a “lax attitude” towards regulation of B.C. casinos, during a period when the previous government had enjoyed “massive increases in provincial gambling revenue,” seems to have contributed to the problems today in B.C.’s gambling system.
Eby pointed specifically to a decision by the B.C. Liberal government to cancel funding of police unit that tackled illegal gambling, after the unit identified concerns with organized crime influence in B.C. casinos and proposed changes “to improve the ability of the existing policing team in identifying and prosecuting offenders.”
Yes, yes….these proclamations by Eby are all well and good but WHERE’S EBY!
What other crime gets spun in the media like this? Only the NDP could be so corrupt. If they wanted to stop it they would be pressing charges not holding press conferences.
Eby also said that he believes B.C.’s property ownership system — in which true owners of property can hide behind opaque legal mechanisms — could be attracting foreign criminals and corrupt officials seeking to hide wealth in the province. Eby said Finance Minister Carole James is working on reforms to pull back legal veils that cover true ownership of property and corporations.
He said that prior to the election for years. At some point Eby has to move from opposition to government. He is either incompetent to make changes or is a liar. Eby the ball is in your court. Time to DO SOMETHING!
Eby said B.C.’s landownership system could be connected to Metro Vancouver’s skyrocketing home prices. Top economists have “made inescapable arguments that taxable incomes reported to Revenue Canada have no connection to real estate values in Metro Vancouver until you get out to the distant suburbs of Vancouver,” Eby said.
Eby said that James “is doing the policy work required to reform our land and corporate registries to increase transparency.”
Eby said, Eby said… when does Eby do?
YVR – this stuff has been going on for years, layer upon layer of fraud, corruption, bribes, shell corporations. It takes time to do it right. I’ll go back through the records and nail these bastards – for free! Krusty will be behind bars.
In a panel discussion on corruption in Canada, several lawyers discussed Eby’s views on B.C. casinos and real estate.
“I heard something that sounds like a commitment to reform beneficial ownership transparency,” said lawyer Paul Lalonde, a Transparency International board member. “We are very encouraged by what we heard.”
Eby has spoken at length many times about the need to do away with these hidden ownership structures.
He’ll take care of this.
After the next election? Is that an election promise?
He’s studying it. Expect action in 2022.
They will be out of office by then.
“Eby has spoken”
He spoke about actually making changes prior to the election. Now study is all he can do. Laughable.
They could just hold a press conference and talk down the market by saying they are going to crack down on money laundering.
But Nope.
In examining Vancouver’s 100 most valuable homes, the report found that 46 per cent — amounting to more than $1 billion in assets — have opaque ownership. Of the 100 properties, 29 are held through shell companies, at least 11 are owned through nominees (listed as students or housewives on land titles), and at least six are disclosed as being held in trust for anonymous beneficiaries, the report said.
Eby?
there better be more to this than a whack of glossy pics of mansions, supercars and other playthings after all is said and done. i am sure like many others that the public wants to see some action on this not just an expose on how these crooks have been living large and running around all over the city doing whatever the eff they want. eby has certainly been talking big recently. we’ll see what (if anything) actually comes of this though…
Distraction.
Nothing will be done.
More wishful thinking on your part. The days of million dollar pressed cardboard shacks are soon coming to an end Boracle. Time to divest and diversify.
Whoreacle should go all in on Bitcoin.
It has nowhere to go but up.
Lock her up! No wonder she’s been packing on weight for a long prison sentence.
Confucius – that isn’t extra weight on Krusty. It’s money bags full of bribe money.
Coming from a former Liberal Party member… lock her up.
I didn’t vote for her twice.
City identifies another site for homeless housing in Vancouver
http://www.vancourier.com/news/city-identifies-another-site-for-homeless-housing-in-vancouver-1.23110397
New real estate tax enforcement measures still lack teeth
Tax evasion common in principle residence declarations, says international tax accountant Steven Flynn
http://www.richmond-news.com/news/new-real-estate-tax-enforcement-measures-still-lack-teeth-1.23110653
Marpole protesters have been blocking a temporary housing project for the homeless from being built, and the City of Vancouver is not going to take it; city announces plans to seek an injunction against the protesters, alongside BC Housing and the Provincial Rental Housing Corporation
https://globalnews.ca/news/3892712/marpole-protest-injunction-temporary-housing/
These people have no shame. They need to be reprimanded and kicked in the booty.
The fact they spent a few millions on their SFHs does not give them the right to do as they please.
Shame on the lot of them.
More fuel coming to low end housing market.
Parental RRSPs tax free down payments!!!
Tax free!!!
Ho Lee Fuk Boracle. That’s an ask by the CREA, not a policy plan. You are one daft hombre…
it is simply the limit increase that they want. this is a trial balloon. surely the key players are already onside. doing it under the guise that it will be for the benefit of the “children” is just a more palatable way to spin it
Great image for your account.
It’s “for the children”.
The homeless people want to kill them.
The poor woman probably spent 2.5 million dollars on a Marpole crackshack. She has a right to protest, right? Money gives you privileges, at least this is what she thinks.
That’s how it works back in her shithole of origin.
Wanna bet? Watch the Feb Fed budget son. Try to keep up.
You wish, house pumper.
RRSP accounts were never intended to benefit anyone other than the account holder with their own financial future.
Letting them raid the money tax free to buy houses for offspring would be obscene, it will never happen.
Keep on lying, though.
New thread
Australian Banks Face Public Inquiry Amid String of Scandals
Wait till home priced start to plummet. That’s when the scandals will break.
Australia’s banks will be subject to a wide-ranging public inquiry after Prime Minister Malcolm Turnbull bowed to pressure to address scandals besetting the industry. The yearlong royal commission will examine the conduct of the nation’s banks, insurers, financial services providers and pension funds, and consider whether regulators have enough power to tackle misconduct, Turnbull said Thursday. He pledged the inquiry would not put “capitalism on trial.”
Aussies (and perhaps New Zealand) wlil be the global canary in the mine for RE….if SHTF there rest assured it will go global.
Duly note how foreign locusts are very prominent in Commonwealth countries….a coincidence ??? I think not….this was a plan hatched long ago …..a curse from your useless inbred royal family.
I highly doubt we will get any relief by Gov’t from foreign locusts….
Like the 10 years Visa scam, the gov’t ‘s are getting very creative at tryjng to hide the foreign locust numbers..simply stuff them into different categories. I highly doubt the Gov’t even knows how many locusts are actually here legally vs illegally..
The ultimate scam is how they use Quebec as an entry point, do the bogus interest free loan scam, then head west to Hongcouver
I had an interesting conversation with a mortgage broker today. A few things the broker said: – Xi Jinping money curbs have somewhat reduced the flow of Chinese money, but not by much. It is amazing how motivated people are to find ways to transfer their cash: it takes them a bit longer, but they still do it. – Chinese money is moving to Townhouses and Condos because appreciation is perceived to be potentially higher in those categories; – the Foreign Buyers Tax does not work, or very little. There are several easy steps one can take to avoid it. Even without resorting to wives and students. The broker did not elaborate and I did not ask more. – New qualifications limit might slow down appreciation, or even induce some marginal price drops. But for most people they serve, the… Read more »
BS, as usual.
You are hilarious. Thinking NDP gonna do something at this point after so much time passed.
Oh well. Ill remind you in 60 days.
The Federal Court of Appeal has upheld a lower court decision ordering the largest realtor group in the country to make detailed financial information about home sales more open to the public
http://www.cbc.ca/news/business/treb-court-ruling-1.4428262
Montreal woman whose father is imprisoned in China asks Trudeau for help
https://globalnews.ca/news/3891484/montreal-woman-whose-father-is-imprisoned-in-china-asks-trudeau-for-help/
The same week the City of Vancouver approved a new housing strategy to boost affordability and curb speculation, an upcoming condo development is targeting investors looking to buy units and assign them before completion
http://urbanyvr.com/mount-pleasant-condo-development-targets-investors
CREA wants parents to assist children with home purchase with their RRSPs
http://www.cbc.ca/news/business/crea-rrsp-home-parent-1.4428122
“”Part of what you do when you subsidize housing in any way is push up the price,” he said, “which just helps property owners rather than buyers.”, Thomas Davidoff, a professor at the University of British Columbia’s Sauder School of Business
CREA: desperate a-holes wanting to keep prices afloat
CREA is nothing more than a circle-jerk of self-interested realtor scumbags. They’ll definitely get a lot of the blame when the bubble pops for giving people bad advice during the run-up.
NDP:
Kinder Morgan – FAIL ; they will build it…hence the delay
Site C – FAIL ; they will build it…hence the delay
Ridesharing – FAIL
Housing – FAIL
Massey Bridge – FAIL ; they will build it…hence the delay
Referendum – Maybe – will sabotage it.
Campaign Financing – Taxpayers contribute to 3 existing parties, not new ones. FAIL
These guys are FAIL
3 years left until a Liberal Majority. Mark my words. The NDP and Green vote simply won’t show up next election after this Gongshow.
The way you smear the new NDP government is the same way the media has been smearing the new Trump presidency.
I assume you have a “degree” in “journalism”.
Not smearing man; just telling the truth. You should be angry at their flip flopping as well. The way things are going, it seems they WANT to hand the next election to the Liberals.
Just today, Horgan said there will be “supply” measures in the budget; good luck with demand side measures. He also said they are going to break for the holidays next week.
A little over 2 months till budget day. Don’t hold your breath.
To be fair, it is true that Horgan only talks about supply of housing. February is close enough and we will see whether there will be meaningful demand curbs. Or whether he decides to shamefully appease homeowners, like Krusty.
I will judge get based on his actions. And so will thousands of others like me.
He was voted into office to curb foreign demand.
http://www.news1130.com/2017/11/30/horgan-says-improved-housing-top-focus-bcs-next-budget/
There’s your answer. It’s all going to be supply.
More shipping containers coming.
“Housing is the number one issue on my desk right now. We are going to have a comprehensive plan rolled out in our February budget with respect to increasing supply so there are more units.
No the media attacks Trump on his style and words. Trump has kept every election promise. On the other hand the NDP have walked away from every single housing related election promise and have made no attempt to even offer words they plan on keeping them. In fact Horgan has stated he will not touch peoples equity which confirms what ever they do they will try to keep prices high. Without lower prices everything else is useless window dressing. Dude you were lied to. You are still in the denial stage. You will look back in a few months and be embarrassed by your support of these frauds.
For the millionth time, the NDP is stalling because the market is already CRASHING!
Thanks for the analysis Stenchy but if the market was crashing prices would be going down not up.
They are going DOWN throughout the REBGV. There IS a life out there east of Ontario St, you know.
If you think the recent upswing in condos is what is setting the market direction, you have a lot to learn; they wii crash even more than SFDs are now. Duh.
B.C. NDP, Greens flex partnership with swath of new policy achievements
British Columbia’s NDP minority government wrapped up its first legislative session on Thursday with a long list of promised changes achieved, including sweeping campaign-finance reform, investments in affordable housing and the launch of a referendum on the province’s electoral system. The government’s most significant accomplishment, though, is the endurance of the pact between the NDP and the Greens.
“The government’s most significant accomplishment, though, is the endurance of the pact between the NDP and the Greens.”
Why is this an accomplishment? You have two losers who combined to steal the election. Why the hell would they blow it? The Greens have more power than they ever will again and the NDP knows they will get killed next election.
Expect these two losers to hold on until the very last possible day. They know what’s coming.
Why is this an accomplishment?
Because people like you and YVR first said this alliance would never happen. Then when it did you said it won’t last.
Now you’re resigned to a full 4 years of a GreeNpd government, all the while fantasizing that in 2021 they’ll be completely wiped out by the liberals glorious new leader, Diane Twat.
What will you think of next?
Dude, what have the NDP done for you??
They got rid of Krusty Clark and her court of corrupt jesters.
That’s a very big accomplishment.
She was the RE industry’s biggest cheerleader.
And since they got rid of her, prices of sub $1 million properties have skyrocketed.
Are you delusional? At least she brought in the FBT. NDP have not done anything.
ZERO and now over half year since election.
The cheaper segment of the housing market, below 1 mil, has boomed because of Krusty Clark and her free money for down payments.
Well they could have cancelled it Day 1 if they were serious.
It’s Day 200 almost
The scheme has been in place longer under the NDP than it was under the Liberals. The “we just got the file” excuse is getting old.
You have the EXACT same policies now under the NDP. If I fed you s hit sandwich under a different name you would call it delicious.
Actually not.
Campaign financing and rich party salaries: gone.
Money laundering in casinos finally being debated and addressed.
Loopholes to jack up rents: gone.
Referendum on proportional representation: approved.
I disagree with the slow and prudent approach on housing. If they do nothing they will pay the price. But this government is infinitely better than the BC Libs gong show.
The things you mention are process. Process was supposed to make policy better. It hasn’t. If you change the process and have the same bad policy who cares? So now developers give less and you pay out of your tax dollars but have the same housing policy. Yippy! What exactly is better for you now other than your taxes going up?
LOL for flunkies like the NDP that is an accomplishment.
I agree with you man. After these blatant lies by the NDP, I simply won’t support them anymore. I did for housing action last May.
Weaver can enact action but he refuses to. he can call a confidence vote.
Guess that leaves the Liberals. If nothing is going to be done on housing, then i want everything to be user pay. Healthcare, education, care homes, etc. Abolish minimum wage, end welfare. I don’t expect to pay for anyone going forward.
They have accomplished nothing that makes anyone’s life better. Must be embarrassing to say you voted for these clowns in public.
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Steve Saretsky Tweets: Concord Pacific’s ‘Canada House’ ironically being flogged in Hong Kong this weekend. Oh the irony
And the sell off to the highest non resodent bidder continues.
They will be residents soon. Millions of more 10 yr visas to be issued. And easily renewable multiple times.
They will have kids here and BAM!!! Millions of new citizens.
Welfare yaaaas
ring the bar bell once again
Welfare for Landlords
Oracle – and that makes you happy, Oracle? The ruination of a city? Another Shanghai? Wow!