BC, data, opinion, politics, prices, supply

Is the foreign buyer tax working?

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144 Comments

Recent data shows the number of real estate transactions with foreign buyers has risen, but is still far below the level prior to the implementation of the foreign buyer tax:

The data shows five per cent of the 6,105 property transfers in September involved foreign nationals, up from 2.5 per cent in April.

That remains far below the percentage of foreign nationals buying homes before the former Liberal government implemented a 15 per cent foreign buyers tax in August 2016 in an effort to cool the hot housing market.

The BC Finance Ministry previously reported that from June 10 to Aug. 1, 2016, 13.2 per cent of all property transfer transactions in Metro Vancouver involved foreign buyers.

Read the full article here.

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Lost...but not leased

The Tyee has a good article titled “I left Vancouver because Vancouver Left Me”
Over 400 comments…
Many have very good insightful comments. I particularly enjoy the ones that pull no punches re: foreign buyers.

BC is simply a place to park money……the Chinese pursue a career elsewhere like back in China.
They can come back here and retire, aka take advantage of all the perks…we have redefined colonization as diversity.

To achieve the aforementioned, our middle class jobs were sent to China, their elite class got rich, and after starving our domestic work force , they now invade our countries and do they next worse thing, buy up our lands with the money they earned from job sellouts.

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KickThemOut

Oh look, locust not contend with messing with North America, they are messing with Australia too. Australian border services nap the biggest drug busts in its history.

https://globalnews.ca/news/3841691/quebec-woman-sentenced-to-7-5-years-for-role-in-australian-cocaine-smuggling/

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Yikes

Indicators…. BC loses more jobs 2 months in a row… car sales slipping 2 months in a row .. liquor stores seem extra busy…road rage up…price reductions required to make sales.

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Doomcouver

Yeah strip out real estate and BC has one of the poorest economies in all of Canada. Currently the main thing voters care about is high housing prices, in another decade or less I think unemployment will be the hot button issue.

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best place on earth

now that you realize the NDP is not a good thing, you still have to support them with your hard earned money . Why did’t they have to set up a committee to study for a plan to how to get rid of corporate donation and suck the money out of taxpayers? But they do have plan for committee to study the plan for everything else.

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Oracle

They are done. Hey won’t ever get relected again in our lifetimes. And the referendum will fail because of their failed promises.

If we are going to go back to liberals, then I want user pay everything. Health, education, senior care homes etc. I’m not going to pay for anyone else.

Welcome to the new Vancouver.

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Doomcouver

I’m reserving judgement for their full budget in February 2018. If we don’t see any action to target speculative demand for housing by then, I feel it’s likely we won’t see it during the NDP’s term in office. It’s my opinion however there is a possibility the Greens could make housing reform a confidence issue and essentially blackmail the NDP into action soon. The Greens have a ton of political points they could win by holding the NDP’s feet to the fire on this problem, and it would be politically unwise not to exploit the massive amount of power the Green party has right now to scoop up more votes from voters angry about housing. I’ll be tempted to vote Green next election if they’re the reason why we see some real change in housing policy. If the NDP have… Read more »

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YVR

The data shows five per cent of the 6,105 property transfers in September involved foreign nationals, up from 2.5 per cent in April.

April was 2.5% foreign buyers compared to 5.0% in September. That is exactly double foreign buyers under the NDP in only 5 months. That does not factor in the new NDP rent to own scheme to avoid the foreign buyers tax. I bet we are at 10% when the NDP announce their next round of shipping containers in the Feb budget. Drove by the Rich casino today. Duffel bags are flowing. I wonder how the NDP study is going? Man this rapid action to cool housing is sure going fast.

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Combat roach

As mentioned the other day, locusts are swarming lately like flies over the shit. Either motherland loosened outflows or locust came up with some alchemical wizardry to produce money out of nothing not only at home, but at the foreign soil too? Until authorities radically prevent further sell out of the country things will accelerate down to shitter at lightning speed.

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Doomcouver

Much of this money is borrowed. The probe into casino money laundering has also shown that money doesn’t even necessarily physically move from China to BC, it’s just numbers on a ledger on either side of the ocean. They borrow money from someone in China, and shifty drug-funds are given to you here in BC. Many Chinese are just as over-indebted as Canadians, sometimes way more, and sometimes to dangerous shadow banking cartels.

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ostritch

I actually have started to wish it will speed up so we can get it over already. Let’s get the Chinese population up into the 90 percentile for Van all the way out to the valley. And in Victoria too. Let’s get ‘er done.

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Doomcouver

That’s not diverse enough. Those are weak numbers we gotta get them up. I want to see 100% Chinese peoople all the way to 100 mile house. We can do it Liberals, I believe in you.

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Oracle

Expect about 70,000 new residents here per year from overseas (immigrants, foreign students, 10 yr visa holders, IMP).

Expect about 10,000 white people to leave.

Net is the lower mainland is going to change a lot faster than most people think. Record immigration on all streams coming starting in 2 months.

You haven’t seen nothing yet!

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Doomcouver

This is a short-term demographic distortion from the China bubble and it won’t last as long as you think. Just like the Hong Kong Chinese in the 90s, only a small dedicated subset of Mainland Chinese will stay here a decade or two from now. The highly skilled ones will travel to the US or Europe, and your average ones will have to go back to China when they can’t make a living speculating on real estate anymore.

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Oracle

Authorities? Lmao

Dude, you are a minority now. Accept it. No going back now. Asian majority will only get stronger from here on.

Time for you guys to take charge has passed. Sorry.

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Best place on meth

BLAME THE NDP FOR EVERYTHING!!!!

SQUAAAAWWWKKK!!!

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Oracle

So says the only NDP supporter left.

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Shut It Down Already

Strong counter-argument…

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paulb

New
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Price Change
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TI:9505

http://www.clivestevepaul.com

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Bestplaceonearth

Down to 9000 by year end?

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Oracle

Maybe even 8K. Word is just getting out about the NDP flip flop.

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ostritch

https://www.propgoluxury.com/en/propertynews/australia/5032-property-hot-spot-chinese-buyers.html THEY CALL IT PUPPY LOVE… BECAUSE IT’S YOUNG AND WILL CONTINUE TO GROW, OVER THERE, AND OVER HERE Up to 80% of foreign property demand in Australia is from China and despite numerous impediments, they are set to continue to grow. That’s the view of the new Australian Investment Strategy from Credit Suisse, which details new state government data about foreign demand. Buyers who do not have Australian passports purchased A$4.9billion of New South Wales (NSW) housing and A$3.1billion in Victoria in 2016. “Sydney house prices have more than doubled since 2009. Melbourne house prices are up 90%. Residential real-estate in Australia’s two largest cities now rank as the second and sixth most expensive in the western world. It is clear housing demand is outstripping supply and we find the marginal buyer of Aussie housing continues to be from… Read more »

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Just me

They must be taxed for holding real estate. Heavily.

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ostritch

It really is a global bubble caused by easy credit over here and OVER THERE. But over there definitely deserves all caps. When it blows, the value of so many assets are going to be halved. But when? When Blanche, when? That’s the $64,000,000,000,000,000,000,000,000,000,000,00.00 question.

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Lost...but not leased

Methinks the 2008 crashes and the Bernie Madoff’s etc. simply made them regroup…but its the same steaming fractional- reserve excessive -credit cesspool simply expanded on a global scale.

They went from assuming some financial institutions were too big to fail to making sure to pull out all stops they will NOT fail.

IMHO all we are seeing is feigned attempts at reigning in this globalized mess, for sheer optics, all the while watching intently for any signs of a bubble pop…watching the sheeple herd’s direction of momentum.

Hate to admit it, but I foresee at minimum no serious attempt to change the status quo..no one wants to take the blame, they are hoping it will simply run out of gas and then the finger pointing starts.

Future will be more credit, lower interest rates etc. etc.

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Doomcouver

Overvaluations on assets caused by pro-speculative sentiment are pretty much impossible to time when they collapse. You can only try to measure how overstretched they are, and watch for externalities that come along to stress the resilience of said bubble. It’s my feeling that we’re nearing the maximum overvaluation that the market can handle in Vancouver or China, but that is a matter of opinion. Perhaps detached homes in Vancouver will sell for $5 million in another 5 years. It seems extremely unlikely to me, but nothing is completely impossible when prices detach themselves from intrinsic value.

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ostritch

Maybe the FBs are off to greener pastures where they can create momentum? Just sayin’.

https://www.propgoluxury.com/en/propertynews/sihanoukville-province/5169-chinese-investment.html

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ostritch

And they get to call what they’re doing by it’s name—creating another China-town.

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Combat roach

Richmond, Sihanoukville, Hurstville – same shit different toilet.

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ostritch

Hurry! Soon your escape to Thailand, Cambodia and Vietnam will be gone. And you thought it was cruel to pump up Abbotsford, Victoria and Chilliwack. The money is sooo much bigger than what you think.

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Lost...but not leased

Michael Geller stated he takes advantage of the program(its not based on needs), gets the interest free deferment..and puts the savings into an interest bearing account.

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Just me

Fertile ground for a NDP intervention. My bet is: they will pretend nothing is happening and carry on as usual.
Who wants to make an enemy of the powerful constituency of elderly homeowners?

The truth? This ability to delay taxes at little or no 8nterest should be scrapped immediately.

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Bag it and tag it

at the very least they should be charging an interest rate equivalent to a high risk heloc…anything less is simply a gift from taxpayers.

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Oracle

Enemy? Dude, someone is padding their wallets full and it ain’t you.

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Doomcouver

Yeah those dirty renting peasants will pay your way. It’s basically the caste system in Canada. Wealthy boomer and Chinese homeowners at the top, and unwashed, poverty stricken millennials renting dirty $2000 Kitsilano basements at the bottom.

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Christy Clark

Is the Foreign Buyer’s tax working? Who cares.

My teaser loans have worked! Benchmark condo prices up 24% since I brought those loans in last December.

And I don’t see the NDP dumping them.

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Spec

If you spent as much time actually reading, thinking, and then posting under one handle, you might become a productive member of this community, Oracle. Friendly advice.

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Oracle

People. Everyone is me. First YVR and. Ow this CC character.

FFS einsteins. Give it a rest.

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bullwhip29

BuildDirect files for creditor protection days after CEO resigns
https://www.biv.com/article/2017/11/builddirect-files-creditor-protection-days-after-c/

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ostritch

This makes me so sad. I had a connection to those guys many years ago. It’s impossibly hard to build a business today and survive. You have to be in the top 1% of every skill, nous, and cunning required today.

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bullwhip29

B.C. Greens introduce bill to ban shark fin trade
http://vancouverisland.ctvnews.ca/b-c-greens-introduce-bill-to-ban-shark-fin-trade-1.3660979

>>> nail in coffin for the greeNDP

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Lost...but not leased

Shark fin trade is directly related to unaffordable real estate…..shows the NDP are working on a solution..trust them.

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Doomcouver

Because the people that sell shark fins have bought up all the houses I guess? Shark fins must be selling for like $5 million each or something right?

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bullwhip29

Oak tree with $554K price tag hoisted to top of condo building
http://bc.ctvnews.ca/oak-tree-with-554k-price-tag-hoisted-to-top-of-condo-building-1.3661213

>>> complete and total madness…

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Combat roach

They would be better off if some jumbo-jacuzzi was put up instead or an helio-pad for tenants and their guests.

Strata documents obtained by CTV News in May showed that condo owners had no choice but to replace it, and would be required to pay about $35,000 per unit. The building’s permit when it was initially built was contingent on having a rooftop tree.

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Lost...but not leased

What a bunch of crap….

What happens if they didn’t replace the tree…Gregor and Vision going to put a vertical bike land up the outside ?

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Doomcouver

Only if the bike lane stops at Gregor’s front door. A millionaire mayor has to get to work somehow…

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Dude Chilling

“required to pay about $35,000 per unit.” Yikes.

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Doomcouver

This is a good example of why buying a condo/strata is an especially poor investment. You’re at the mercy of special assessments and ever-rising strata fees. You’d be better off taking your money and burning it. It would certainly save a lot of time…

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Bag it and tag it

OK the tree died because nobody watered it during the 2015 drought. Also, it’s stated that this tree is part of the penthouse, so why is the strata paying for it and not the penthouse owner?? Probably the PH owner that didn’t bother to water it also.

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Doomcouver

https://www.thestar.com/news/immigration/2017/11/01/canadian-government-to-raise-annual-immigrant-intake-by-13-by-2020.html

This is too funny. It’s a three year program but it will likely get the federal Liberals voted out in 2 years. The majority of Canadians do not want more immigrants and will vote accordingly. Any federal party that campaigns to roll these changes back will likely be elected. We’ll see what happens.

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Lost...but not leased

The issue can be traced to the globalists attempt to neuter and dilute the European gene pool which has always been a threat. Throw in the Women’s movement, inflation, abortion etc..”white” children become a costly/inconvenient option.

Once the low birth rate objective has been achieved/programmed into the white psyche…the politicians cry “we need more immigrants!!!” to address the low birth rate. …so Mr. Singh can get citizenship and sponsor 20 family members. and Mr Chang can buy 20 pre sale condos. etc etc. as whitey gets demonized as a racist.

All by design folks…WW1 and WW2( “brother killing brother”) directly contributed to the aformentioned,,what a waste of good genes and look who is filling the void???.

F*cking pathetic

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Doomcouver

I think it’s more an unintended consequence of the “diversity for the sake of diversity” mindset of the left. What liberals don’t understand is ethnic and cultural diversity doesn’t make your society stronger or weaker necessarily, it just makes it more diverse. In the case of Canada I feel it’s a net negative for the reasons you describe. There’s a crowding out of housing and social services, disenfranchisement of the next generation of Canadians, and racial ghettoization due to lack of integration into the community. It’s going to have to get way worse before we see a populist uprising by Canadians. I feel the credit crash will likely trigger one however. Wealthy minorities are going to have a lot more hate directed at them really soon.

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Lost...but not leased

Time to turf the Vancouver Island NDP and GREEN mafia..

The Green MLA’s all represent Vancouver island ridings
John Horgan and Carol James as well..

Sick of their collective sh*t eating grins.

Time to lobby for either bridge/tunnel to Vancouver Island or free ferry passes for Chinese

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KickThemOut

Holy fuck!!! Did you people know that Chinese loves to eat pig blood?? Seriously, WTF? I thought vampires were a myth…but now I’m not so sure anymore

https://www.google.ca/search?q=pig+blood&source=lnms&tbm=isch&sa=X&ved=0ahUKEwj77LLpzqDXAhXEKiYKHcdwCNoQ_AUICigB&biw=1387&bih=622

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Lost...but not leased

An even greater gross out is when they eat live monkey brains..

The animal is secured at the center of a table…upper portion of skull is removed……and they pick away at its brain while it is alive.

( Mind you, this is eerily similar to how NDP , Vision and Trudeau supporters are created.)

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bullwhip29

Edmonton police warn of ‘virtual kidnapping’ scheme targeting Chinese students
https://globalnews.ca/news/3840042/virtual-kidnapping-chinese-students-edmonton-police/

>>> soon authorities from coast to coast will be issuing round the clock warnings to be on the lookout for anything and everything that could pose a risk to the hundreds of 1000’s of precious fuerdai princesses and princelings that are singlehandedly keeping schools and universities from PEI to Powell River flush with cash, the real estate market propped up at higher and higher high’s and the financial institutions, legal and accounting firms and “specialty” retailers and consultants overflowing with more business than they can handle

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Lost...but not leased

This is why they have such disproportionally high breeding rates, in case of such long overdue events.
Also,police lineups for suspects end up a gong show……for the usual “punchline” reasons

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Doomcouver

Plot twist: The calls are actually the Chinese Communist Party and your parents are actually kidnapped, for reals.

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southseacompany

“CENTRAL BANKERS FACE A CRISIS OF CONFIDENCE AS MODELS FAIL”, Financial Times

https://www.ft.com/content/333b3406-acd5-11e7-beba-5521c713abf4

“Central bankers usurped the titans of Wall Street as the masters of the universe almost a decade ago. They rescued the global economy from the financial crisis, flooding the world with cheap money. They used their powers effectively to get banks lending again. Their actions raised asset prices, keeping business and consumer confidence up. Financial markets and populations hang on their words. But never have they been so vulnerable.”

“As they gather in Washington for the annual meetings of the International Monetary Fund, there is a crisis of confidence in central banking. Their economic models are failing and there are doubts whether they understand the effects of interest rates and other monetary policies on the economy.”

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Doomcouver

Central bankers are finding that they’re not able to incentivize businesses to borrow more money, while the low rates are creating the largest asset bubbles we’ve ever seen in bonds, stocks and housing. They don’t have any other tricks up their sleeve though so they kept cutting rates, hoping that the next rate cut would have more positive effects, while they were actually mostly producing negative ones. They just don’t want to admit that sometimes central banks are powerless to market forces. That would take way more intelligence than your average Central Banker can muster. Poloz will be quitting any day now as the whole thing starts to fall apart. I’d hate to be this clown’s replacement. Becoming the next Governor for the Bank of Canada will be the metaphorical equivalent of inheriting the world’s largest rancid trash heap.

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Abdul Lahazi

Poloz was an imbecile for cutting rates to .50% and blowing house prices sky high.

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Doomcouver

To be fair, Mark Carney did most of the hatcheting of interest rates since he was in power 2008-2013. Poloz just continued his moronic legacy. Central bankers are mostly megalomaniacs that think monetary policy can fix everything. What they don’t seem to understand is most levers the central banks have are extremely blunt instruments for fixing an economy. Using interest rates to encourage business spending is like trying to squeeze toothpaste out of a tube with a sledgehammer. Sure you’ll get some toothpaste out, but you just smashed your entire sink in the process.

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bullwhip29

Will Vancouver ever stop eating its young?
https://beta.theglobeandmail.com/opinion/will-vancouver-ever-stop-eating-its-young/article36809599

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squeak

Will it? I dont think so, too corrupted.

Young with enough survival instinct leave Vancouver. I would in a heart beat if I was under 40. My time is too valuable to be wasted on Vancouver wasteland.

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Doomcouver

This will just make the debt implosion even worse here. Many of the young people are gone, and the overindebted boomers have no one to sell their overpriced, moldy, leaky crack-shacks to. The Chinese will lose interest (or go bankrupt) at around the same time the credit market dies, and many detached homes around the province could be 50-80% off their highs before they can find buyers. Just watch, the reckoning is coming.

Many people may have to flee the province AFTER the crash just due to how bad the jobs market will be. If you’re working a job that a real estate agent, construction worker, or banker could do, you’d better get ready to fight for your position. A lot of cheap and desperate scab labor could be available very soon.

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history

http://www.digitalfinanceanalytics.com/blog/october-mortgage-stress-higher-again-see-the-top-10-post-codes/

This is Australia. Where’s the Canadian version

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Hyper-mega-Bull

FINALLY someone is asking the right question about the biggest health emergency facing N. America as the dead bodies continue to pile up and loved ones continue to weep their children’s, sibling’s, parent’s lives cut short.

China is using fentanyl in a chemical war against America

http://www.mcclatchydc.com/opinion/article182139386.html

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bullwhip29

yeah, you’d think the so called authorities here would spend a minute or two trying to stop the flow of this crap into the country VS dreaming up plan after plan to treat the addicts and corpses lying all over the place

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KickThemOut

Yes, you would think so but they don’t….that tells you all you need to know about where the real problem is.

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squeak

Nip it in the bud.
Ooh how much money and crisis Canada could have saves/avoided if they would have just looked at concerns with a good common sense view in a timely manner, not the knee jerk reaction, pathetic band aid solutions.

Very expensive and wasteful way of running a country.
No wonder it is sinking.
The weather gone colder, darker, wetter. Expect too see a lot more to surface on the street level. It is ugly.

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Shut It Down Already

Right, there was no drug problem in Vancouver prior to the arrival of fentanyl. Right?

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Oracle

My theory is it was meant to be used on the downtown east side population. Then developers and landowners would make more $$$.

Drug dealers would never kill off their customers. That would be stupid.

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Abdul Lahazi

Alberta landlord struggling to evict man living rent-free on his driveway

https://globalnews.ca/news/3838405/alberta-landlord-struggling-to-evict-man-living-rent-free-on-his-driveway/

What a pickle …

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best place on earth

freeloaders exist everywhere. unfortunate, landlords have less rights than the freeloaders in the eyes of the law; but that does not still please the freeloaders.

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KickThemOut

Which is probably why a lot of owners don’t rent anymore…..a single bad tenant will wipe out all profits, while all the bears and lefties will be claiming how the renter is a victim and need more rights and protections. You almost have to be a masochist and/or have ties to criminal elements to rent in Canada.

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kabloona

Solution: wait until buddy goes to the bar or local store for smokes or whatever, hitch up his “house” to a truck and drag it into the street. Then the city will eventually remove from the side of the road as a derelict vehicle…

Like the RCMP said, it’s a civil matter….

😉

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KickThemOut

Then the freeloader will sue you for damages and put a lien on your property, if you are lucky.

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kabloona

So sue me…. pretty sure I could beat that rap and he’s probably broke.

🙂

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KickThemOut

But the important question is – is the freeloader a locust? Is the landlord a locust?

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patriotz

Alberta law requires landlords to get a court order to evict a tenant. Instead of doing this, he thought he could get the RCMP to do it for free. The story notes that he has finally hired a lawyer and will go to court Nov 9.

If you can’t be bothered to learn the legal regulations for any business, and that includes being a landlord, don’t go into it.

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Doomcouver

Canada is full of greedy land hoarders like this guy; I don’t feel bad for the landlord at all. This slum-lord obviously wasn’t prepared for the consequences of not selling. If he’s your average Canadian speculator he likely has at least a half-dozen overpriced crap-holes he’s renting out. He’s lucky this guy isn’t squatting inside the house. I recommend he just plant a high hedge around this guy’s hut and hope he dies of hypothermia. Maybe next time he won’t be such a dirtbag speculator and only own the housing he personally needs.

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Diadora

Canada will admit almost 1 million new immigrants over the next three years….bolster the country’s aging population.
https://www.bloomberg.com/news/articles/2017-11-02/canada-to-admit-980-000-new-permanent-residents-over-three-years
The government have let in many millions of immigrants in the last 20 years and the average age of the citizen remains almost the same.

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Abdul Lahazi

Because these immigrants grow old too and within one generation they stop having kids just like everyone else (too expensive) so the demographic never changes. It is a vicious cycle. Also some of them leave when they realize that Canada is not the land of milk and honey.

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Doomcouver

Yeah that’s right, all the young working age people leave to go back to their own country. This effect will be amplified when the credit bubble pops because most of the good jobs will be gone. Look at what happened with Hong Kong immigrants. They’ve all but left now because they can make more money back home. We get left with all the old and dying relatives. Canada needs a serious rethink of how we handle immigration. It’s not good for Canadians or Canada the way it’s run currently. The only results we’re getting is ridiculously overpriced housing, and racial ghettoization of our neighborhoods. This will not fix our demographic problems it’s making it much much worse.

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Oracle

They don’t care about demographic problems. Trust me.

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KickThemOut

Nobody here trusts you.

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DaMann

Unfortunately even mentioning the word immigration gets you labelled a racist or even better yet a Nazi. These latest immigration numbers they are wanting to achieve is asinine.

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Doomcouver

“Nazi” and “Fascist” are just terms that get thrown by the alt-left so often now they’ve become meaningless. Regardless our credit market is turning a corner. They’re struggling to hit 300k immigrants a year now, imagine what it’s like when our unemployment numbers are double what they are now. We’ll have to start paying immigrants to move here, and they still may not come.

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Shut It Down Already

False. You would love to think that it’s forbidden to discuss immigration. It’s not. But if you can’t see that many posters here cross the line by using racial slurs then quite frankly you’re a fucking retard.

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Madashell

Most of these so call immigrants will not relinquish there original citizenship and they keep both, best of both world which a Canadian born will only have one. Get rid of duo-citizenship.

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Oracle

Why not? Millions now take advantage of this. Even immigrants who become citizens. The computer systems aren’t linked.

I know elderly who collect pensions in 2 countries and keep assets separate from each country. In Canada, poverty declared so no MSP and MAX GIS/OAS and bus passes. 6 months here and 6 months there…

Suckers are the asleep local workers who continue to take it…

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Shut It Down Already

I can just imagine how you’d whine if foreign countries reciprocated that in a way which impacted Canadians living overseas.

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Joe Deficit

Since T2 has increased our debt per capita to record levels… increasing population will lower the debt per capita!

Problem solved!

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bullwhip29

Vancouver is home to the world’s tallest wooden building…for now
https://www.lonelyplanet.com/news/2017/11/02/worlds-tallest-wooden-building-vancouver-2/

>>> first, all wooden frame town houses, now high rises…yep, i’m convinced more than ever this will all come crashing down…literally

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Abdul Lahazi

That building has a two concrete cores and a concrete floor base so it’s cheating (sort of). This 8 story building in Prince George is all timber construction:

http://www.cbc.ca/news/canada/british-columbia/wood-innovation-laboratory-being-built-in-prince-george-1.3962878

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Doomcouver

At least you’ll get evenly cooked when the building inevitably catches on fire.

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Abdul Lahazi

and a building over 8 floors or so would collapse under it’s own weight because wood is not strong enough to support the weight on top. The wood foundations would have to be too thick at the base.

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Confucius

Vancouver is the world’s tallest house of cards.

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