BC: The Best Place to Launder Money

Looking to launder some money?

You’d be hard pressed to find a better place to do it than right here in beautiful British Columbia.

“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.

Once you’ve had fun in our casinos come join the real fun in our property market where owners get to hide behind ‘opaque legal mechanisms’ for a place to stash cash that pays back!

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.

Eby pointed to a 2016 study by Transparency International that showed real estate buyers in B.C. are using shell companies, trusts and nominee buyers to hide their beneficial interest in property.

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 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.

This Eby guy sounds like a troublemaker. You know what to do, get out your wallet . With the right motivation we should be able to get this new government on the right side of history and keep the fun going in the casinos and the housing market. Right?

Read the full article here.

151 Comments on "BC: The Best Place to Launder Money"

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

Confucious the foreign locust breeder says “Many launder their thoughts on this blog”

history
Guest
history

How about this one:

“You’re going to need a strobe light to see the drop in RE prices next year, it’ll be moving that fast”

Abdul Lahazi
Guest
Abdul Lahazi

It takes 29 years to save for a down payment in Vancouver, and prices just keep climbing

https://globalnews.ca/news/3863325/vancouver-housing-affordability-down-payment/

This sounds like a speculative bubble to me … or is it different this time?

When I bought my first house (an actual real house) in Vancouver it took me 6 years to save up the DP; but savings interest rates were at 12% +

Just me
Guest
Just me

Perhaps there is a disconnect between local incomes and local prices? Perhaps funds from elsewhere are inflating real estate valuations?

Dave
Member

I think the only explanation is this is the best place on Earth so people will pay anything for a chance to live here, even if it means living in a crack shack. I’ve read that foreign buyers are only like 5% of transactions, so that can’t possibly be affecting the market. Strange that every single real estate pamphlet I get in the mail is in Mandarin though. What a head scratcher.

Doomcouver
Guest
Doomcouver
“Best place on earth” isn’t an adequate explanation of why it’s so expensive. Partly because it isn’t the “best” city on earth, and there’s plenty of other nice cities that can’t come close to Vancouver in terms of prices. The best explanation is Vancouver housing has become a Veblen good for the uber wealthy, or ridiculously over-indebted speculator. Before it reached that status, at the start of the problem, Vancouver real estate appreciated because of wealth migration from Hong Kong, and ultra-low interest rates. That only got us to a mild doubling of prices in the 90s however. What’s happened now is the anti-graft campaign in China has spooked many Chinese from leaving their money in China and they’re pushing it to other locations. That on its own would NOT have been enough to raise Vancouver prices this high however.… Read more »
Dave
Member
Sarcasm… you missed it. Hard to do when the reality of Vancouver real estate is so absurd. I’m not convinced higher rates will pop the bubble anymore. It doesn’t affect foreign capital flowing into this market like Niagara Falls. I am starting to think that 50% of market activity is related to foreign capital. On the other side of the argument, one thing you would expect to see with a bubble are late comers rushing into the market to buy anything for fear of missing out. That’s exactly what is happening with real estate right now. People are rushing to buy anything they can afford…. Maybe the next step is the pop. Here are the fundamentals… NDP/Green government, higher rates, harder mortgage qualifications and an angry public… We haven’t had a correction for ten years… seems about time.
Bear Vancouverite
Member
Bear Vancouverite

Even if foreign money was 50% or greater of the current market, a large increase in interest rates (say to 5%) can most definitely pop the bubble. As I’ve demonstrated, some of the really big deals are done by wealthy foreigners who do indeed get local mortgages, and if that option is taken out it cuts down their total buying power by at least 50-75%.

Lost...but not Leased
Guest
Lost...but not Leased
Sarcasm duly noted…. Best place on earth?? WTF ? Seem to recall in late 1970’s all the outrage and umbrage when Whitecaps won their first championship and we we referred to as a “Village”. Actually, before the foreign locust invasion, Lower Mainland was pretty nice place to live…laid back, reasonably affordable…very large middle class…hope and opportunity. “Best place on earth” refers to mountains, ocean(Big F’n deal) and conspicuous consumption with overpriced real estate, gaudy mansions,numerous ” FOR LEASE” signs in vacant commercial buildings….and areas like a drive down Cambie with all the boarded up homes much like Detroit. ” Best place on earth” is a sick pathetic joke (aka marketing ploy )for what is nothing but the worlds biggest” Chine$$$e laundry”. Vancouver is simply lagging behind other”World Class” Cities that are experiencing RE corrections…which makes the long overdue collapse that… Read more »
YVR
Guest
YVR

“Perhaps there is a disconnect between local incomes and local prices? Perhaps funds from elsewhere are inflating real estate valuations?”

Then why don’t the NDP stop it? Why are they only planning on addressing supply, which if foreign money is the issue will not solve anything? Either you are wrong or the NDP are frauds. Which is it?

Oracle
Guest
Oracle

Vested interests.

Questions that need to be asked:

1) What insiders have multiple properties?
2) What insiders bought since last election?
3) What MLA’s have relatives with huge vested interests?
4) Who and how are they getting the brown paper bags?

Poor Selina, the dumb mule in all this. I bet she doesnt even have a clue what a brown paper bag is.

history
Guest
history

There’s that meme again

29 years and saving your money.

Actually 29.47 the author wants us to be precise.

Doomcouver
Guest
Doomcouver
It’s different this time. All of the following are true: – Housing prices ONLY go up as such it is a one-way bet! – They’re not making any more land (aka. Vancouver is inherently worth infinity $ per square meter) – Immigrants will keep coming to Canada regardless of future weakness in our economy, lack of access to social services, and lack of employment. – Interest rates will never go up, and Canadians will always be able to pay their mortgages. – Vancouver will always be a good place to launder money. Don’t pay attention to the upcoming crackdown on casinos, David Eby will lose interest and come to love dirty Norwegian money like everyone else. – The American property market crashed because they didn’t love real estate speculation enough. Canadians will never stop speculating, falling knives will be caught… Read more »
Abdul Lahazi
Guest
Abdul Lahazi

Canada-China trade talks fail to materialize as Justin Trudeau continues state visit

https://globalnews.ca/news/3894897/justin-trudeau-canada-china-trade-talks/

How can we have a trade agreement with crooks?

Doomcouver
Guest
Doomcouver

This didn’t surprise me. As relations between China and the US become more frosty, we’re going to get a worse reception from China. Militarily, Canada is completely dependent on the USA and war in the South China Sea would immediately alienate Canada from China, as there’s a 0% chance we’ll align with the communist Chinese militarily. It makes me wonder what will happen to the thousands of Chinese nationals in Canada should war break out. Stripping citizenship from dual nationals, deportation, civil forfeiture, internment? These are all on the table when you move from a wide open border to having it snap shut in the case of war. Maybe we’ll get lucky and Trump will self-destruct before he can do any more saber rattling at North Korea or China.

Lost...but not Leased
Guest
Lost...but not Leased

China and North Korea are simply boogeymen….just brought up when SHTF in other areas.
If they didn’t exist, then they would have to create others.

Much of Clinton administration was dealing with Communist Chinese…..kept very low key…Lewinsky scandal was simply camouflage/distraction.

Review Gulf of Tonkin incident..which set off war with Vietnam…the US claimed they were attacked..but no evidence whatsoever..”The Doors” Jim Morrison’s dad was Admiral of the Fleet in the area.

Even if China was deemed a threat..its too F’n late….they have literally infiltrated most Western countries to the point of no return..satellite colonies for Beijing. Over and Done like Peking Duck!

patriotz
Member

There isn’t going to be a war between China and the US. At worst the US might be able to get a proxy like Vietnam to give them some trouble. Anyway, Canada did fight China in the Korean war and nothing happened to Chinese Canadians other than the usual stuff at the time such as not being able to vote, etc.

Do remember that Canada was not legally at war with China as opposed to WWII when Canada was legally at war with Germany, Italy and Japan.

history
Guest
history

Do remember the opposite and inverted conditions today, versus the 1930s…

Best place on meth
Member
Best place on meth

Tell me more about this “internment”.

Sounds intriguing.

YVR
Guest
YVR

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.

Probably true. But what is Eby’s excuse for letting it continue? He was given this information 6 months ago. We were past the point of more studies 6 months ago when they ‘blew his mind’ with the findings of a previous study. He is doing the exact same thing as the Liberals and the only reason we know about it now is because Sam Cooper is reporting on it. It mirrors the NDP housing policy which again they are doing the same thing as the Liberals while criticizing what the Liberals did and promising to run things differently prior to getting elected. Hypocrite.

patriotz
Member

You don’t say? 6 months ago, i.e. June 4, Christy Clark was still the premier and the non-confidence motion was weeks away, never mind the NDP becoming government. Eby must a be pretty sharp guy to have gotten that info under Christy’s nose.

Oracle
Guest
Oracle

he’ll repost the same comment in 30 days. FFS are you happy?

ostritch
Member
ostritch

I can’t believe the people here are falling for government BS all over again. Think: is the problem in money laundering really centred around River Rock Casino? I think not. It’s all around you in land sales and transactions. Eby is using this as a typical red herring because they cannot be seen to prick the real bubble.

Lost...but not leased
Guest
Lost...but not leased
SHTF ? you know its ugly when they try to minimize the impact of foreign locusts. Lets be clear….. The last housing boom that was domestic was back in the late 1970’s early 1980’s. The gov’t reigned it in with 20+% interest rates..it literally shut down overnite. Since 1986, its been driven by foreign locu$t funds. The gov’t could have and should have reigned this in via creating policy that Canada is not for sale, but as I outlined before…Commonwealth nations have been sold out to this offshore funds of dubious origin. In other words….if they had controlled locust funds…then they would not let the situation get out of control. Eby’s comment was stupid…he’s admitting its out of control…now what..he has to follow up or he’s lost any credibility. Let’s also recall the NDP were in Gov’t for over 10… Read more »
YVR
Guest
YVR
“Eby’s comment was stupid…he’s admitting its out of control…now what..he has to follow up or he’s lost any credibility.” The NDP has already lost all credibility. They will not do anything to address HAM. Eby is just addressing what is being exposed by Sam Cooper and delaying with more unneeded studies. He never would have brought it had Sam Cooper not reported it. Caught with his pants down doing nothing after being informed 6 months ago. The NDP already know they will never win another election. Their only hope now is proportional representation to keep a few of them in there. Otherwise they will be wiped to 2 seats (or less) just like after their last time in power. If the NDP thought they had a chance in the next election they would not be rigging the proportional representation referendum.… Read more »
kabloona
Member
kabloona

Check out the website and go thru the questionnaire…it’s not “rigged in favour” of straight Proportional Representation as far as I can tell.

STV is listed as one of the choices, for instance….. if that happens to be your preference….
( I happen to prefer it….)

😉

Or you can just choose the status quo….

YVR
Guest
YVR

Mike Smyth: NDP and Greens stack the deck in referendum vote

It was a cringeworthy news conference at the legislature as a pair of MLAs — one NDP and one Green — tried vainly to explain how their referendum to change B.C.’s voting system is not obviously stacked in their favour.

http://theprovince.com/news/bc-politics/mike-smyth-ndp-and-greens-stack-the-deck-in-referendum-vote

Lost...but not Leased
Guest
Lost...but not Leased

Good article by Smyth….
So BC (under the Liberals) has , in essence, voted TWICE already on the PR issue and was DEFEATED both times.

Why bother trying again?

Clearly the NDP and Greens want an even more corrupt and manipulated electoral system than the current evil “status quo”. WE cannot trust THEM.

That further implies that BC citizens may be stuck in perpetuity with the NDP (and their mini -me Greens ) and…… via their past track record, put in place all sorts of whacky and cronyism legislation that will ultimately turn BC into a borderline and bankrupt Communist province.

Oracle
Guest
Oracle

There will be 3-4 choices. FPTP will get the most votes because of the Liberal vote. The other choices will split the vote. NDP aren’t that stupid. They will design it to fail.

Bear Vancouverite
Member
Bear Vancouverite

You are lambasting the NDP for taking 6 months to address the exposed corruption. I don’t recall you saying anything about the Liberals covering this up since they shut down the gambling task force in 2009. That’s 7 years.

Give us an honest answer for once: Do you condemn the BC Liberals for doing nothing about the gambling corruption during the 7 years since they shut down the gambling task force? Are they not more at fault for this than the NDP who have only had 6 months to deal with it?

Would the Liberals, in your opinion, be talking right now about addressing their own mistake were they in power? I think they would be making more excuses.

YVR
Guest
YVR

The Liberals could have done more but at least they had the RCMP pressing charges and investigating. Eby has taken the RCMP off and hires a private consultant to study the issue. Are you really this naive?

Oracle
Guest
Oracle

No hope for some people. Just as the Bull side yells ” racism” to silence a discussion, the bear side yells “Realtor”.

FFS, These guys are going to be in their 40’s before they realize that the NDP fucked them over. Then what you going to do? Buy a house when your 45???? A mortgage into your 70’s??? hahaha

Oracle
Guest
Oracle

Dude, the Liberal base delivers to the people who vote Liberal. They know the cost of voting for them as long as their real estate value goes through the roof.

NDP fucked over its own voters. I know many who aren’t going to vote in the referendum nor ever going vote for them again. Cheers to those of you who keep supporting them. They simply won’t get anywhere near the 40% of the vote they got this time.

Ulsterman
Member

What i don’t understand is why can’t the government just change the rules immediately as tell casinos “due to the money laundering problems cash will only be accepted in amounts up to $500. Effective immediately.” I’ve no idea how casinos work but can it really be that hard to stop suitcases of $20’s being brought to the cashier at a casino? We’re a sophisticated, highly technical society. There must be a verification method that we can implement when someone wants to hand over large sums of money to a casino, be it cash, wire transfer, bitcoin, cheques etc. Why does everything require months of study?

Stats
Guest
Stats
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 per cent increase from the 2,214 sales recorded in November 2016, and a 7.5 per cent decrease compared to October 2017 when 3,022 homes sold. Last month’s sales were 17 per cent above the 10-year November sales average. “We’re seeing steady demand in today’s market. Home buyer activity is operating above our long-term averages, particularly in our townhome and condominium markets,” Jill Oudil, REBGV president said. There were 4,109 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2017. This represents a 30.6 per cent increase compared to the 3,147 homes listed in November 2016 and a 9.5 per cent decrease compared to October 2017 when… Read more »
Stats
Guest
Stats
history
Guest
history

Only the cops have the good data on People Living In VehicleS

PLIVS for short

PLIV stats are a new feature of VCI, i’ll get into it more in the weeks and months ahead, as this lifestyle Rockets like a Bitcoin chart.

history
Guest
history

I, history, trademark and protect the acronym PLIV and PLIVS as refering to People or Persons Living In Vehicles, as My Creative Property. Anyone can use this acronym, just remember where you heard it.

Boonbust
Guest
Boonbust

Bogus numbers.

YVR
Guest
YVR

“The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 per cent increase from the 2,214 sales recorded in November 2016”

Wow that quick action the NDP took to cool housing has had a huge impact! Up 26% year over year. Are they useless fools are just blatant liars?

bullwhip29
Guest
bullwhip29

Richmond lawyer in alleged trust fund theft set to share details of investigation
http://vancouversun.com/news/local-news/richmond-lawyer-in-alleged-trust-fund-theft-set-to-share-details-of-investigation

Oracle
Guest
Oracle

NDP creating 3800 child care spaces!!!

Using your tax dollars!. Low income people living in mansions will qualify paying next to nothing. Middle class workers who rent…nothing for you here…keep paying income taxes to subsidize the QIIP people. We can’t hurt their home equity.

YVR
Guest
YVR

Sad but true. Don’t forget the 78 shipping containers. The homeless get something too. All picked up by the middle class working tax payer.

Oracle
Guest
Oracle

Its not rocket science to know the easiest way to make life more affordable is lower rents and housing prices.

If nothing done on housing, then i would rather have much lower taxes so i can compete with the tax evaders. Why should i pay more than a QIIP or an astronaut family? Let everything be user pay.

The NDP refuse to do that and are beating around the bush. If they think they will get reelected, they are kidding themselves BIGTIME!

Lost...but not Leased
Guest
Lost...but not Leased

Typical NDP……all NDP is really is an amalgam of idealogues du jour who serve as an interim “bridging” gov’t when the ” right of center”party has worn out their welcome and simply regroups.

Horgan has ZERO , I repeat ZERO stars in his cabinet…Carol James is simply taking up space….the only potential was perhaps EBY, who will go down as a failure..people have no time for backroom studies…they want action NOW and there is no concrete sign it is forthcoming.

YVR
Guest
YVR

“the only potential was perhaps EBY, who will go down as a failure.”

Eby is already a failure. He will probably be disbarred and go down as a criminal like his NDP predecessor Moe Sihota.

Oracle
Guest
Oracle

These assholes are going to fuck Weaver over. But I think weaver already knows that. I’m thinking he put there by the Independent Power Producers so they can continue to sell BCers high cost electricity. $2.4 Billion last year.

specuskeptic
Member

Clearly you are speaking from your anus. “He was put there by the independent power producers…” How you aren’t choking at the smell of your own bullshit is beyond me. I can smell it from here.

Oracle
Guest
Oracle

Hey Mr Specku, i see you still got your panties in a knot. Snap out of it. Be thankful that everyone of all IQ backgrounds are allowed to post on the internet.

Oracle
Guest
Oracle

And quit manipulating the up/dpwn votes here!!!

ostritch
Member
ostritch

That’s so true.

Abdul Lahazi
Guest
Abdul Lahazi

Vancouver property prices up 14 per cent since Nov. 2016, real estate board says

https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=jdwvan&mobile=false

YVR
Guest
YVR

“Vancouver property prices up 14 per cent since Nov. 2016, real estate board says”

Go NDP go! Selena, Horgan and Eby you guys are the best.

Bestplaceonearth
Guest
Bestplaceonearth

The NDP is doing their job. It was 30% under the Lib.

Oracle
Guest
Oracle

You don’t need to suck up. Your party is guaranteed a victory next election. My prediction is about 15 months away. No way NDP allows the referendum to pass. Plus, NDP supporters disgusted and simply will not go out and vote

Corrupt NDP choices will be:

1) FPTP
2) STV
3) MMP
4) ?

Hearing that out of these, 1 will get the most votes. Can theoretically win with just the Liberal vote. For example:

1) FPTP – 40%
2) STV – 30%
3) MMP – 15%
4) ? – 15%

AND NO THEY WONT LUMP CHOICES 2-4 TOGETHER. GOOD LUCK BELIEVING THAT.

Dave
Member

This is a good post. That might just be the way they NDP will sabotage the vote. Give people three or four choices so none get 50%. Since Liberal voters will all say no along with some NDP, that would probably get the highest percent.

It’s very hard for me to believe the NDP are so stupid to think PR is in their interest. It’s bad for any centrist party and good for extremes.

BubbleTea
Guest
BubbleTea

Employer who stole nearly $3M in wages from 157 workers fined $500
” Owner” Sun is allegedly on the run in China with his wife Yulan “Amy” Hu
https://thinkpol.ca/2017/12/04/employer-who-stole-nearly-3m-in-wages-from-157-employees-fined-500/
Meanwhile our T2 is in the land of corrupt courting more investment and visitors to Canada.

Abdul Lahazi
Guest
Abdul Lahazi

$500? What are the odds that he will pay up?

Lost...but not Leased
Guest
Lost...but not Leased

Confucious math say:
….if cheat people $ 9 M in wages ….. do foreign locusts get a discount re: fines…… say…….$888 ???

bullwhip29
Guest
bullwhip29

this is simply nauseating…

Oracle
Guest
Oracle

Fraud Alert for Working income tax payers err suckers.

Senior immigrants who have had careers in Canada spend up to 6 months out of the country vacationing each year. They stay in their lifelong homes and have other real estate assets. UNDECLARED TO CRA.

They then collect the Guaranteed Income Supplement (GIS) which is a sort of welfare for seniors. Why are they allowed to collect it on their 6 month vacations outside the country?? Then welfare and EI recipients should be allowed to do the same. If Gov not going to anything about housing, then this kind of bullshit needs to be front and centre.

End GIS for vacationers!!!

Oracle
Guest
Oracle

Now who would possibly downvote this post? Chronic global tax evaders??

Lost...but not Leased
Guest
Lost...but not Leased

Kinda reflecting on this “HarveyGate ” issue re: Harvey Weinstein et al
.
The dirt coming out is not actually “news”….. its simply been kept under wraps for decades……the news is that the dam has not only burst, but more and more people are feeling emboldened and empowered coming out and naming names. Whose Next_______?

What I foresee and predict is this “outing” phenomenon will spread like wildfire….it will come from all sorts of disenfranchised and disillusioned parties from all walks and experiences in life WHO HAVE HAD ENOUGH AND WILL NOT TAKE ANYMORE. …….. ie more and more people will come forward ratting out parties that have gamed the system= cheating for personal gain…..whether it be pre- sale flips…living in mansions yet claiming poverty…Senior immigrants scamming GIS……

Stay Tuned!!!

ostritch
Member
ostritch

Looks like Don Henley is due up at bat early 2018, if the commenters on this blog are correct. This blog recently broke in the daily beast.

http://www.crazydaysandnights.net/2017/11/blind-item-1-he-made-millions-from.html

paulb
Member
Trusted Member

New
206
Price Change
48
Sold
142
TI:8994

http://www.clivestevepaul.com

Raincity
Guest
Raincity

I know people in retail, small businesses, that are not busy for the Christmas Season. Why? Because there is no disposable income left for people to spend. After paying high rent or high mortgages, plus living expenses, there’s nothing left. There is a clear relationship between high real estate and spending power. This relationship is hurting the larger economy. WAKE UP AND DO SOMETHING NDP!!

Abdul Lahazi
Guest
Abdul Lahazi

prolonged high housing costs will eventually lead to an economic recession.

Oracle
Guest
Oracle

“Recession” is a Depression for some people and a Boom for others. It’s already here in a sense. It will lead to store closures BUT they will just build condos where stores close. Case in point: Sears Guildford….Huge multi high-rise condo complex planned and LRT Terminus station planned there as well. Wait for the news..

Lost...but not Leased
Guest
Lost...but not Leased

Try “Ho Ho Horgan” ?

Or ” Horgan hears a Who ” ?

Christmas is usually the “make or break” time of year for many businesses.

Unfortunately, many will likely fold next year as they cannot survive the onslaught of higher property taxes, inability to keep staff ……as well as hollowing out of customer base.

Ulsterman
Member

I had a chat with a 17 year old today and she complained that “everything is just so expensive here.” I told her to do some research into her future career earnings, run a mortgage qualification calculator, then go look at mls. I said that with real estate, insurance, gas, groceries etc being so expensive here she should seriously consider heading to another Canadian city like Ottawa or Montreal to start her adult life. I did feel like a bit of a grumpy old man telling her this, but I just can’t see how she can ever live a good life here. She doesn’t have rich parents. What do people think? Is my advice Mr Bitter and Grumpy, or sensible?

Burnaby Bear
Guest
Burnaby Bear

Sounds pretty accurate to me. I have said the same thing to 20 and 30 year olds that work with me. Unless real estate completely crashes here, cost of living is too high if you are not pulling in mid six figures.

ostritch
Member
ostritch

If she’s not French or fluent in French, so it’s not great advice. Each generation has to deal with what comes. Don’t think the generations in Europe between 1917-1946 had an easy time of it with 2 world wars and the Spanish flu. Renting isn’t as bad as that.

bullwhip29
Guest
bullwhip29

Richmond woman with parents jailed in China urges Canada to halt trade talks
http://vancouversun.com/business/local-business/richmond-woman-with-parents-jailed-in-china-urges-canada-to-halt-trade-talks

>>> what a demanding little c&%t…who do these people think they are anyway? as far as i’m concerned, if you choose to cut a corner or two and wind up getting your wings clipped in the process, then too effin bad…deal with it and move on.

realist
Member
realist

from the Guardian, 2 Dec 2017:
“Living in cars, working for Amazon: meet America’s new nomads”
“Rising rents are leading Americans to live in cars and other vehicles, writes Jessica Bruder, the author of Nomadland. Millions of Americans are wrestling with the impossibility of a traditional middle-class existence. They gave up traditional housing and moved into ‘wheel estate’: RVs, travel trailers, vans, pickup campers, even a salvaged Prius and other sedans.”

https://www.theguardian.com/commentisfree/2017/dec/02/nomadland-living-in-cars-working-amazon

ostritch
Member
ostritch

The dailymail.com has been all over Amazon lately. Relentless and measured-down-to-the-minute working conditions plus over-educated snowflakes with no future don’t make for a pretty picture.

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

Feds fear expanding Home Buyers’ Plan would fuel hot housing market: document
https://www.ctvnews.ca/politics/feds-fear-expanding-home-buyers-plan-would-fuel-hot-housing-market-document-1.3705196

>>> floating more trial balloons, that is all…

southseacompany
Member
southseacompany

“Wealthy baby boomers may be keeping Canada unequal by helping their kids buy homes: report”, Global News

https://globalnews.ca/news/3896601/baby-boomers-kids-homes-inequality-canada/

“The report showed that urban boomers with household incomes of over $100,000 were nearly twice as likely to use a living inheritance to help someone buy real estate.”

“As many as 49 per cent of people making over $100,000 said they planned to, or had already handed over funds for this purpose, next to 27 per cent of respondents who made less than $100,000.”

Joe Condo
Guest
Joe Condo

Sounds like a Sotheby’s press release, planted as news, to subliminally encourage boomers to buy homes for their kids.

southseacompany
Member
southseacompany

“Fed rate hike is expected next week and three more increases are expected in 2018: Reuters poll”, CNBC

https://www.cnbc.com/2017/12/04/fed-rate-expectations-on-the-rise-before-tax-cuts-passed-senate-reuters-poll.html

“The U.S. Federal Reserve is almost certain to raise interest rates later this month, according to a Reuters poll of economists.
A majority of economists now expect three more rate increases next year compared with two when surveyed just weeks ago.”

kabloona
Member
kabloona

Good gawd, let’s hope so….

Was wishing the Crazy Man Down South (CMDS) had appointed John Taylor instead of Jerome Powell as Fed Chairman, but alas it was not to be…

😉

Oracle
Guest
Oracle

Weaver just tweeted that they won’t bring NDP gov down if they proceed with Site C.

Greens are only in it for the referendum ??!! Haha. Wait until that fails.

But this is all by design to keep the sheep in line. Anyone that can’t see that is just plain dumb.

Basically the Liberal agenda continues. No one goes to jail. All major projects proceed. And they will act bewildered when the referendum fails. All while they are racking in the dough into their foundations.

patriotz
Member
history
Guest
history

https://www.theautomaticearth.com/2017/12/debt-rattle-december-5-2017/

It’s all fraud, and none of it is persecuted: “When everyone is doing it, you can’t put everyone in jail..”

“Operating out of small, cramped offices, often in residential blocks, loan agents “re-package” – or falsify documents for mortgage applications. “Around 60% of property buyers in Shanghai are involved in some kind of re-packaging..”

• China’s Property Binge Fuels Mortgage Fraud Frenzy (Reuters link)

[..] across China, unqualified borrowers use fake documents to secure mortgages, while loans deceptively obtained for other purposes are funnelled into property. These frauds are often committed with the consent and encouragement of other parties to the transactions, including lending brokers, property agents, valuation companies and the banks themselves…

ostritch
Member
ostritch

Yup. When everyone does it, it’s called their values and culture.

Doomcouver
Guest
Doomcouver

That means the China bubble is even worse than I thought. Imagine what happens if a bank has a $2 million property on paper and goes to repossess but finds out it was only worth $750k at the height of the bubble because someone lied about purchase price, and the value has since collapsed to $400k. Oh my god that is bad, their credit market is beyond saving.

Oracle
Guest
Oracle

http://www.ctvnews.ca/mobile/politics/pm-trade-with-china-an-answer-to-rising-populism-1.3707233

Wow. This guy has to go. He is an enemy to working Canadians. We should not have to feel sorry for being Canadian and patriots.

Doomcouver
Guest
Doomcouver

You’re acting like there are great alternatives. The NDP and Cons would be just as bad, just a different kind of bad.

Oracle
Guest
Oracle

Agree. We need a new party for the people.

Abdul Lahazi
Guest
Abdul Lahazi

Richmond lawyer claims over $7.5M in trust money was stolen and laundered through a casino

https://globalnews.ca/news/3896853/hong-guo-lawyer-trust-fund-casino/

Hong Guo of the Guo Law Corporation issued a news release Monday claiming that the ex-employees used forged cheques to take $7,665,000 out of a trust fund before it was laundered and then landed in China.

More thieves …

Abdul Lahazi
Guest
Abdul Lahazi

North Vancouver residents outraged over tree removal

https://globalnews.ca/video/3893129/north-vancouver-residents-outraged-over-tree-removal

it’s surprising the protesters never said anything about their property values being impacted by these tree removals.

bullwhip29
Guest
bullwhip29

New mortgage stress test rules will block 50,000 people from buying: mortgage group
http://www.cbc.ca/news/business/mortgage-professionals-canada-1.4433319

Oracle
Guest
Oracle

New figures show that there were 104,000 foreign students in metro Bancouver in 2016. Assuming the intake is higher now and a 3 yr complete turnover (time for PR) then you probably have 40,000 new students coming in per year. Add to that their 10 yr visa parents etc.

Those 50,000 locals that can’t qualify will mean less competition for these 40,000.

Oracle
Guest
Oracle

Think about that. 104,000 units occupied by wealthy students. (Need at least $35,000 per year for tuition alone)

Shut It Down Already
Guest
Shut It Down Already

Many foreign students receive funding from their home country either through government programs or private sponsorship. But keep on trying to push the idea that all are extremely wealthy, relocate their entire family here, and never intend to return home.

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