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Friday Free-for-all! Dec 15th 2017

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226 Comments

It’s that time of the week again- Friday Free for all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend, here are a few links to kick off the chat:

–Third month of price declines
–More condos than ever before
–Horgan promises tax to affect demand
–“Affordable” housing
–Brace for steep rate hikes
–Failed flips
–BC Changes tenancy regulations
–Higher debt loads
–

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!

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https://www.theguardian.com/business/2017/dec/17/uk-banks-tell-may-a-canada-style-brexit-deal-is-not-good-enough

It seems to me lots of Brits love the BC FIRE and yet its not good enough for Brit banks? This is one of those stories that the middleman Asians read to figure out the pulse of NAFTA negotiations.

Which brings me around to Horgan interview. Sorry folks, you gotta file that one under NAFTA negotiations too.

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patriotz

What the article is actually about is that UK banks enjoy free access to the EU which they don’t want to lose. An ordinary free trade deal such as the one Canada has with the EU doesn’t give Canadian banks access. And the Canada-UK free trade deal is being held up by some a likely model for a future UK-EU deal.

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history

You aint gonna tell me sweet FUk what is what Sniveller

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Lost...but not leased

I see, via media reports,….. the NDP has outright banned the Grizzly Bear hunt, whereas previously it simply imposed restrictions that still allowed for the hunt.

i won’t get into the ethics of the hunt, but rather put the context as WTF are the NDP priorities.????

Seems like they can’t wear big boy pants and deal with issues at the human scale (ie affordable housing), but will instead use their short shelf life in office to cater to a list of special interest groups.

Merry Christmas ……suckers

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patriotz

Banning the grizzly hunt just required the stroke of a pen and the only people PO’d by it are are few hunters and guides who don’t vote NDP anyway. On the plus side you get a feelgood effect for all those city dwellers who don’t like to see those cute bears killed.

Housing has huge impact on the government fiscal side, the macroeconomic side, and the household financial side. Any government is going to tread lightly. I wish they didn’t have to, but that’s reality.

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YVR

“Housing has huge impact on the government fiscal side, the macroeconomic side, and the household financial side.”

I guess Eby didn’t know that when drafted and proposed legislation to cool housing and had his 50 press conferences prior to the election. Did someone inform him about consequences of popping the bubble after the election or was he lying prior?

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Best place on meth

WHERE’S EBY!!??

*shakes fist in air*

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paulb

New
89
Price Change
28
Sold
86
TI:8531

http://www.clivestevepaul.com

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Abdul Lahazi

Website sharing homes sold data online gets legal pushback from TREB :

https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=SUF1806&mobile=false

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Just me

Real estate agents are truly the lowest of the low bottom feeders. This is truly revolting behavior. Clearly motivated by greed and nothing else.

From the article” ” The letter it received from TREB states that an Ontario Court of Appeal ruling, which upheld a decision that Beach’s sharing of TREB data a violation of its user agreement, has not been affected by the recent appeal court ruling.

TREB has said it will take its challenge to the Supreme Court of Canada, leaving the status of the current ruling in limbo.”

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best place on earth

no, the freeloaders are the lowest of the low bottom feeders. Real estate agents works their butt off to earn a living.

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Laibach

You know for sure, otherwise what else a plonker like you could do for a living?

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Bestplaceonearth

Had you talking to an agent, you could have been a home owner by now. Be bold or be evicted.

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Best place on meth

Which agency are you with?

I’d like to give you some business.

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Shut It Down Already

Actually, Abdul demonstrated earlier that he’s the lowest of the low. A total liar and not to be trusted. This is not even the first time he’s tried to pull this trick.

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Just me

‘We have not made a dent’: John Horgan pledges more action on affordable housing in 2018. B.C. premier says specific measures to be unveiled in next year’s budget.

http://www.cbc.ca/news/canada/british-columbia/horgan-year-end-interview-2017-1.4451711

The premier declined to mention what specific policies the government would be implementing in the new year, but said it would be a mix of measures designed to increase supply and reduce demand in the housing market.

“Carole James is working as Minister of Finance on the demand side, trying to keep prices down, the explosion of costs in the Lower Mainland in the last three years has been quite astounding, and everyone knows that,” he said.

I am crossing my fingers that they out in place measures with real bite. We have had enough of cosmetic changes around the edges: we need policies that bring price into more reasonable ranges.

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Just me

A couple of snippets from the comments section of the article:

Ted Dantoncal
Hopefully whatever action they take is not only housing for addicts, prostitutes and the homeless. There are a lot of workers that have difficulty affording housing in BC. Starting with them would be as good idea for a change.

Jacques LeGarcon
They need to make some tough decisions and stop avoiding some obvious ones. We have a housing affordability crisis? Then stop selling to mainland Chinese and ban them from buying, let’s be frank, everyone other than the Vancouver Real Estate Board knows the “investments” from mainland China have killed any prospect for housing affordability yet we insist on dancing around the elephant in the room. It’s probably too late already but we can at least stop it at its current level, which is already massively excessive.

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YVR

You forgot this comment which better sums it up

Gary McCaig
With 40% of the BC economy riding on the real estate industry, the NDP has no more interest in bursting the bubble than the Liberals did.
Neither have any ideas for a provincial economy other than selling the province off lot-by-lot and house by house to China.

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Just me

The wholesale of the province took place under the watchful eyer of the Liberals. Doing worse than them is, in my view, very hard. Even a reduced effort by the NDP is better than the Liberals’ open sale of the city to mainland China investors.

If the NDP will do too little in February, I will be the first one to attack them. Unlike you, I am not an ideologue and don’t really care about left or right definitions. I vote for whoever promises the most reasonable policies. The BC Libs don’t even qualify under that criterion, they remain a bunch of corrupt pro-China developers, lining their pockets. If they change their stance on housing and Chinese money, I will consider voting for them.

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YVR

The wholesale of the province took place under the watchful eyer of the Liberals. Doing worse than them is, in my view, very hard.

So far the NDP have done worse. They are talented!

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Best place on meth

Libs should be lined up and shot for treason.

Krusty, Landlord Mike, Fat Bastard, Drunk Driver…..boom! boom! boom! boom!

Justice….

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YVR

As for what Horgan would consider a success by the end of 2018?

“To have allowed more people to get into the housing market”

That should help lower prices. LOL.

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BubbleTea

Prime London: prices down 25% and sellers outnumber buyers 10-to-1
https://www.estateagenttoday.co.uk/breaking-news/2017/12/prime-london-prices-down-25-sellers-outnumber-buyers-10-to-1

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patriotz

” sellers outnumber buyers 10-to-1″

Sellers always are always equal to buyers at the market price. I think what they are trying to say is that those who want to sell at the old price outnumber those willing to buy at the old price by 10-1.

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Just me

Correct. But prices are not as flexible as we would like them to be.
This might change in a heartbeat if the NDP finally does the right thing and taxes rents (by adopting the UBC/SFU tax proposal in some form that limits idle speculation).

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patriotz

“But prices are not as flexible as we would like them to be.”

Prices are as flexible as buyers want them to be. Somebody always has to sell and they have to settle for the best price offered.

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Just me

Well, so far these eager sellers are holding the line quite well.
We need the government to jumpstart the necessary process of price deflation.

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oncebittwiceshy

Just me “Well, so far these eager sellers are holding the line quite well.” <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<< You just need to look a little further for flexibility, I guess. Out in the Vancouver suburbs, apparently, things aren’t going that well at all, if this home is any indicator. Beautiful 3900 sq.ft. home on a 10,000 sq.ft. lot in prestigious Westwood Plateau. It would appear that this home finally sold. http://kwelite.ca/officelistings.html/details-16631762 1541 EAGLE MOUNTAIN Drive Westwood Plateau Coquitlam V3E 2Z3 $795,000 Residential Detached beds: 6 baths: 4.0 3,957 sq. ft. built: 1995 The only problem …. last year it was assessed for just about double the price: Total Value Assessed as of July 1st, 2016 $1,456,000 https://www.bcassessment.ca/Property/Info/QTAwMDAzWFpENw== How did that happen? 1541 Eagle Mountain Drive, Coquitlam, BC V3E 2Z3 $1,498,000 2017-10-19 $1,550,000 2017-10-23 $888,888 2017-11-29 Overall Change= -$ 609,112.00 Percent: -40.66 Yes, despite… Read more »

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Just me

I love your example. Bring more of them.
I wish sellers were more reasonable and started slashing prices by more than the customary 5%. So far, I don’t see a lot of that happening: there are exceptions but still too sparse.
I will call it a correction when prices are back t at least 2014 levels. Anything above that is still bull.

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Just me

To further clarify the point, My view is that a real correction can only be triggered by a clear political signal saying:
1. we are not standing by the market at any cost, bailing buyers out.
2. If you buy today, you are on your own if prices adjust.
3. Taxes will be higher for people declaring no other income, yet buying multimillion-dollar properties. No more housewives paying no taxes and living in mansions.
4. We end the anonymity of real estate and force true disclosure of beneficial owners.

Until these four things occur, we are still far from any meaningful correction in Vancouver proper.

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BubbleTea

For those that thing real estates will always go up in Vancouver…
Flipper sues buyer who lost half a million selling waterfront property for loss
“The sad part for me is ordinary Canadians are falling prey to number manipulation by the industry trying to keep up the perception real estate prices can only go up,” the whistleblower said. “The amount of deception, corruption and outright fraud in the industry is appalling and there is so much secrecy around the process of purchase and sale that the public is kept in the dark on just about every aspect of it.”
https://thinkpol.ca/2017/12/18/flipper-sues-buyer-lost-half-million-selling-waterfront-property-loss/
Thanks Thinkpol

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Shut It Down Already

Collins and Schomaker are clearly mainlanders, amiright?

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Just me

Obviously not. However, the reason high offers have evaporated is the distinct lack of Chinese mainlanders. Most likely due to Xi Jinping tighter capital controls.
Hence, it seems that Chinese money is responsible for this drop in prices, just as it was for the massive runup.
Who do you think was making those 3.5 million and above offers 18 months ago? The end buyer is who drives the prices. These guys in the article were trying to profit from the willingness of Chinese buyers to sink money in Vancouver RE. They got burned, as they deserve. They fully deserve to lose their shirts.

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Abdul Lahazi

Here is the best part:

“Prices in West Vancouver keep falling, and seller will be lucky to even get $2 million in 2018. I expect both the flipper and the eventual buyer to lose a lot of money.”

The insider blamed the real estate industry’s unethical practices for putting many working Canadians into a tough financial situations.

“The sad part for me is ordinary Canadians are falling prey to number manipulation by the industry trying to keep up the perception real estate prices can only go up,” the whistleblower said. “The amount of deception, corruption and outright fraud in the industry is appalling and there is so much secrecy around the process of purchase and sale that the public is kept in the dark on just about every aspect of it.”

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best place on earth

the site you quoted is rubbish. just another sourgrape and get add traffic for a living.

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Just me

Thinkpol is the best RE site we have ever had in Vancouver and BC. I hope they get rewarded handsomely for their efforts.

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best place on earth

yep, any site salivates price crash is a blessing for the bears.

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history

Corrupt industry cant be saved by a price correction,,, it’ll take the exodus of people from fiixed housing into their automobiles. Spook deep state knows this and why CrossOver autos were designed and financed the way they were, and are completely inefficient to live in.

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Laibach

If you could just hear yourself and think for a moment about what you say. For the record, you just outdid yourself again in your relentless mission of pushing limits of stupidity and retardation. The medicine will be grateful to you forever.

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best place on earth

Wow, I like the way you put it. Now, instead of using it here, go to city hall and fight for affordable housing. Make a difference.
Do you know that there is free needles and drugs offering to the freeloaders while the low income seniors have to buy every single needle to test their diabetic and insulin?

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history

Spook deep state controls the drug trade, and are aggreseive farmers of Street peoples Welfare. In fact, farming welfare is An Artform in BC. Thats why people should stay away from it, as determined as possible. Live for $5 per day in your Automobile, and press forward with quality advocacy. Slay pig sniveller servants and useless Job beaurocrats, with words and deeds, cloistered in their institutions basements trying to front run the revolution.

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Troll

You are guys are still going strong, congratulations! 10 years and still the same stories and whinging about everything house related. That’s dedication and a lack of other hobbies!

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Abdul Lahazi

Yes you certainly are.

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Best place on meth

Thanks, AIDS!

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best place on earth

the only hobby they have is to hide in mama’s basement.

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Just me

Vancouver housing crisis pushing seniors to brink of homelessness, say advocates.

http://vancouversun.com/news/local-news/vancouver-housing-crisis-pushing-seniors-to-brink-of-homelessness-say-advocates

Skyrocketing rents and dwindling affordable-housing units in Vancouver are driving seniors to the brink of homelessness, forcing some to couch surf, seek roommates or even live in cars, advocates say.

But, hey, sorry, our land and housing stock is earmarked for use (and abuse) by Chinese millionaires and local speculators. And doing anything about it would be racist, right?

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Shut It Down Already

Fuck off, race baiter.

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Just me

Great argument, as usual. You are in great form.
Loser. You are the real race baiter. You see racism everywhere, it must give you nightmares.

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Abdul Lahazi

SIDAs extremely vile racist comments from the last thread that were directed at me were actually deleted by the Admin. That’s how bad it was. SIDA is a disgrace to this forum. He is a troll and I refuse to engage with him on any level.

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Shut It Down Already

You’re a fucking liar with no conscience.

Admin, how about giving him an IP ban for this?

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history

/www.castanet.net/edition/news-story-214245-1-.htm#214245

The views on this article are enormouse. A flight n Kelowna delayed by BlueCollar issue. The huddled masses onboard, FIRE workers on their way to Vancouver for further connections abroad, quiver nervously… they know how Timing is Everything in the circles they travel..

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southseacompany

“Home prices in Canada are falling, and some homeowners could be in serious trouble”, Business Insider

http://www.businessinsider.com/home-prices-in-canada-fall-2017-12

“With Canada’s home prices no longer guaranteed to soar, and with debt at record levels and growing, households are exposed to higher rates. The Bank of Canada has raised rates twice this year by a quarter point each time. But even these tiny baby steps push up mortgage costs for Canadian households. “

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oncebittwiceshy

“Vancouver DETACHED inventory is now above levels for November not seen since 2008.”

Nov 2007: 1014
Nov 2008: 1983
Nov 2009: 1032
Nov 2010: 1002
Nov 2011: 1351
Nov 2012: 1592
Nov 2013: 1336
Nov 2014: 1121
Nov 2015: 957
Nov 2016: 1420
Nov 2017: 1614

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Just me

Anything above 2.5 millions stays on the market over 50 days. In the bracket between 1 million and 2.5 millions, the average days are around 30. However, prices are not budging because sellers refuse to reduce them in significant ways. You get the occasional 5% or 10% down from asking, but the sell/list price is holding up around 98%. This tells me the market could go either way. Buyers at the top have disappeared (likely Chinese mainlanders unable to bring money fast enough?) and this will result in a significant price drop if it continues. Price drops at the top will lead to a trickle down effect, with discounts also at lower price points. Why spend 1.8 millions on a. Condo if you can get a SFH? Early days, but encouraging news. If this market crashed, it would be for… Read more »

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Lost...but not leased

One segment on the market would be those downsizers who are not speculators. They may have bought a
SFH 20+yeqrs ago. and want a condo. They can afford to cut their asking price.

The only glitch I see is if Condos rise in price while SFH stays same or declines. See how it plays out.

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Boombust

Yes. And, 2008 was the start of the BIG CORRECTION that was stopped in its tracks by the Feds, etc. They’re out of bullets this time around, though.

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best place on earth

and how many of those listings are for land assembly again? those landowners do not need to sell, they speculate on land assembly or no sale. bears cannot see past their zippers.

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Doomcouver

I’ve said it before, but Canada is due for the largest national housing bust in our history as a country. Hopefully on the other side of this the government will clamp down on foreign capital flows and speculative market behavior. That way we can avoid inflating such a massive bubble ever again. Speculators serve no purpose for our society; they make housing unaffordable, and amplify the peak and trough of the housing price cycle. Speculators are a destructive force that need their collective hand slapped hard in the next recession.

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patriotz

I don’t think anything will match the 1930’s for price declines. The City of Vancouver became owner of Champlain Heights because the owners defaulted on their taxes and nobody was willing to buy the property at a tax sale. At that time you could buy a SFH for 3x annual rental value.

On the other hand home ownership rates were lower and consumer debt was smaller so the impact in that respect today may be bigger. In the 1930’s the RE bust was an effect of the economic decline, not the cause.

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Abdul Lahazi

O

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history

O draconian devil!
Oh, lame saint!
13, 3, 2, 21, 1, 1, 8, 5

When the messenger reverses at the right eye, and moves direct at the left
The cryptocode will be revealed

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Mee

Any realtors on here that will give me a 50% cash back of their commission for writing an offer?

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UBC in crisis mode

Bob Rennie’s $25,000 lunch: Why Vancouver is unaffordable
http://rabble.ca/blogs/bloggers/mainlander/2014/03/bob-rennie’s-25000-lunch-why-vancouver-unaffordable

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Just me

Read it all. Disturbing. Disgusting. To be ended as soon as possible.
If there was a startup party focused on housing they would win the Vancouver elections in a heartbeat. Vision is just as bad as the NPA. Developers have veto power on serious reforms.

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Abdul Lahazi

These people are all scum. Enriching themselves at the expense of everyone else. And talk about a conflict of interest; donations to politicians resulting in tax exemptions and zoning changes which are against the wishes of area residents. It’s basically bribery of politicians which makes BC into a banana republic.

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Abdul Lahazi

And to add, politicians who can be bought off by the highest bidder.

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UBC in crisis mode

Vancouver mayor must have been doing all the owners (voters) a favour in the last 10 years:
Have Vancouver’s policies hindered rental housing more than helped?
https://www.theglobeandmail.com/news/british-columbia/are-vancouvers-policies-working-against-rental-housing/article37353717/

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history

They have helped. I much prefer vehicle dwelling than fixed mortgage reFinance dwelling, or renting a fixed dwelling. Housing ponsi is a welfare racket anyway.

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Just me

When I read Frances Bula’s articles I always come away with an uneasy feeling that she is pushing an agenda. Often she sides with developers, mainland China investors and, generally, with the view that the future direction of Vancouver is effectively to become Shangai west.
MS Bula, do you have any disclosures you would like to make?

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Boombust

You’d be surprised by the amount of sneaky “collusion” happening out there.

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YVR

Of couse this all developer BS. Here is the way things work.

A) value of the final building = B) all costs associated with building + C) land cost

The developers are complaining B is going up. The cost to build the building due to what the CoV wants in order to give the zoning and permit. All the additional CoV demands does is reduce the value of the land because B + C can never be more the A. You notice it is the land owners doing the complaining. The fact the CoV demands more just means those that already own the land will make less money when they build or sell the land.

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Best place on meth

You forgot to blame the NDP and ask “where’s Eby?”.

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YVR

Who is Eby?

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Lost...but not Leased

Ever heard of ” NAKED OFFICIAL ” ???
Google it…

It refers to Communist Party officials who stay in Mainland China while their spouses and children live abroad.
Between 1978 and 2003, 4,000 officials took $50 BILLION out of the country.

I know this ain’t news…aka satellite/astronaut families…..but the $50 Billion shows the degree of monetary weaponization.
IMHO Mainland China doesn’t give a shite..that’s all a smokescreen in the overall goal to have foreign locusts agents create chaos and conquer once sovereign nations..

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history

We have a housing problem because multi dwellings are allowed to be bought by same corporations. Like a financial derivative, at its root, the purpose is to control population reproduction rates. Canada, like Europe, we see a massive relocation, with fresh credit in the hand.

Other parts of the world this is not practicle, so you see hyperinflation, or civil war. The globe is put under Demographic transition by whatever means, as we are marched like Nazi brainwash to Agenda 2030

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Abdul Lahazi

Seniors especially hard-hit by housing crisis: advocates:

http://www.news1130.com/2017/12/17/seniors-hard-hit-housing-crisis-advocates/

BC’s seniors’ advocate Isobel Mackenzie says rents have risen 45 per cent while a provincial subsidy for elderly renters has only gone up by nine per cent.

What about the suggestion of moving to an area where the cost of living is less? They don’t need to live in an expensive area like the West End of Vancouver if they aren’t working any more.

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Stah!

Send them to Stah Lee Pak!! OK!

Thats the response you going get from the majority soon to be demographic. Don’t say you weren’t warned for years and years.

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Spec

Whatever you say Boracle….

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Lost...but not Leased

Re: Seniors

Please clarify the context ….
IMHO..many parties of various logistics and demographics(ie SENIORS) were exposed to consequences previously unforeseen.

ie it may be fair to state majority of “Seniors” were once part of a demographic referred to as Middle Class…had realistic hopes and dreams for a better life for their offspring…….but were ambushed by traitors catering to foreign locusts.

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Abdul Lahazi

Housing prices forecast to rise in 2018: credit union

http://www.news1130.com/2017/12/17/housing-prices-rise-2018-credit-union/

“prices will go up five per cent next year.”
“Greater Vancouver specifically, Yu says prices are expected to increase by seven per cent.”

>>> Now these are some pretty large price jumps these guys are forecasting. Considering the headwinds that real estate will be facing in 2018 IDK how these guys can predict these increases with any kind of straight face…

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Lost...but not Leased

Of course…this has nothing to do with Credit Unions perhaps increasingly being a lender of last resort and many of their mortgages UNinsured….thus one has to pump more optimism into the RE bubble…

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Lost...but not Leased

Should also add that another ” more eyes and ears the better” are VCI posters looking for fenced off sites that have the lending institutes signs attached. See how many lower key lending institutions are appearing more and more.

These often get caught up in FOMO when the big banks show big profits via RE…but then back out when risk rises. aka more low key lenders = market is about to tank.

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bestplaceonearth

well, i trust the credit union more than the anonymous bloggers or posters. If there is anything, history has proved itself. Years from now, Just Me and BPOM will be still here to whine and swear and …salivate racist comment.

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Lost...but not Leased

I agree….
…..once Foreign locusts, Somalia pirates….., rainbow colour themed crosswalks and various Seth McFarlane animes bitch slap Canadian traitors,…SIDA and thou can use Air BnB Groupons

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Just me

Is it racist to point out abominable behaviour? In which way does criticize behavior amount to racism?

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Lost...but not Leased

Not racist at all…call a spade a spade.

Our politicians are traitors and whores, catering to a defineable group(foreign locusts) incubated and hatched from a Communist system that thought nothing of murdering millions and creating an elite class of 1% whose wealth was based on corruption, fraud, exploitation of the remaining 99%.

What’s not to love, if not envy ?

PS remember Gregor Roberston is related to Dr. Norman Bethune…MD to the Chinese Commies

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Shut It Down Already

How come nobody posted this yet?

http://vancouversun.com/business/local-business/condo-case-shows-difficulty-b-c-securities-commission-has-collecting-fines

Oh wait, I think I know why…

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Best place on meth

Non-locusts do commit fraud from time to time, however it’s not a cultural norm and accepted practice as it is in some countries.

And by some countries I meant that fucking evil scummy shithole, china.

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Shut It Down Already

If only you’d put so much energy into your education.

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Just me

SIDA, do you actually like the People’s Republic of China? Do you think is a good, functioning state?
I can understand you being all prickly about the Chinese as an ethnic group (probably for personal reasons). What I don’t understand is why you would defend a totalitarian regime that kills and annihilates human freedoms. Illuminate us all, if you can.

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Best place on meth

AIDS is a fucking traitor who would love to see Canada destroyed and taken over by communist chinese.

He’s sell us all out in a heartbeat.

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Best place on meth

I’ve had a look at airbnb listings in my neighborhood and there are several illegal ones.

I’m going to be busy tomorrow.

http://vancouver.ca/vanconnect-desktop.aspx

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Shut It Down Already

What a fun way to spend a Saturday night!

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Just me

Trying to go after white-collar criminals and people who break the law. Seems fine to me. We should all do a bit more reporting of these people who pretend not to understand the rules.
House prices would be lower without Airbnb.

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Best place on meth

I said tomorrow, meaning Sunday.

Learn to read you stupid cunt.

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Shut It Down Already

You posted on a Saturday night from a desktop, dumbass.

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Lost...but not Leased

Oh shite

…..I had to listen to an NFL game today(SUNDAY) where the play -by- play announcer was testicularly challenged .

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Best place on meth

Singapore: 2 Airbnb hosts could be fined up to $148,000 for illegally renting out their apartments

http://mashable.com/2017/12/05/airbnb-charge-singapore/#R6kyVCnBrPqw

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Lost...but not Leased

Unless mistaken…… Singapore has a very progressive legal system..whereby offenders are tarred and feathered..genitals are mortgaged and first born have to listen to Buble’ and Bieber greatest hits.

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Best place on meth

Interesting Twitter account for Vancouver’s Illegal Short Term Rental Operators (VISTRO)

https://twitter.com/vistro11?lang=en

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Just me

The very fact that the city of Vancouver openly admits they will not enforce their own regulations forbidding Airbnb in secondary suites and properties is a sign of the time. The city is either unable (low funded agencies)or unwilling (political convenience in keeping landlords happy) to apply the law. The crazy thing is that they passed the law just a few months ago.
Mayor Robertson and his army of overpaid bureaucrats should be ashamed. Take a pay cut and hire a few enforcers.

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Best place on meth

No need for pay cuts, just make the fines serious like Singapore.

Canadian politicians are gutless when it comes to white collar crime.

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YVR

“Mayor Robertson and his army of overpaid bureaucrats should be ashamed.”

So should the people who keep voting him in and then endlessly complaining. I think you have voted for every useless politician who is currently in power.

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Just me

Again, in which way haas the NPA shown to be better? The alternative is rather a more left leaning party that takes on homeowners. Sad but true.
The NPA is in the pocket of homeowners and Airbnb hosts.

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YVR

House prices in Vancouver when the NPA was in power were about 1/3 of what they are now. There was less homeless people and you could drive through downtown in 5 minutes rather than the 30 minutes it takes with all the unused bike lanes now.

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patriotz

They were a lot lower than that before the NPA was in power and COPE (which at the time included Vision) was running council.

See how stupid your argument is? Why not compare today’s Vancouver against cities which are now being run by the right, like Richmond.

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YVR

Actually Cope was a lot better than Vision for housing in general, not being in bed with developers and actually helping homelessness people not creating homeless people.

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Lost...but not Leased

Richmond Council ….biggest whorehouse in BC (2) long time Councillors are in bed with developers(D.D. and K.J)..to the point they have to excuse themselves from votes on re-zonings..as they are Joint Venture partners in many Richmond RE projects. Councillor L.M. is married to a major Richmond Commercial property owner / landlord Councillor H.S. is a fraud and hypocrite..a major ALR proponent…… yet his bogus farm is not in the ALR yet he games the system by using” Farm Status ” to avoid over $50,000 a year in property taxes. His bogus farm, via OCP… is set up to be subdivided into several SFH homes. Councillor C.D. has an active Bread and Breakfast in her home… Mayor M.B.is an ex- lawyer who is an arrogant asshole whose bullying of Council and citizen speakers is reaching new heights. The rest of Richmond… Read more »

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Lost...but not Leased

Thinkpol article re CRA…

—appears no more immunity for people confessing to Tax Evasion under Voluntary Disclosure Program(VDP).
—in fiscal 2016-2017 approx 18,600 disclosures representing over $1.6 billion in previously unreported income.

Reading the article..it appears CRA will now review each VDP and determine to how sophisticated the tax evasion was as well as dollar amounts, time frames. etc

IMHO, the aim is not to have single entities like Poloz take the blame…….CRA is going hunting for $$$$ and this may have the same affect as raising interest rates. CRA is circling like sharks now…at or below the surface…people will either be more forthcoming out of fear…OR in so deep they don’t dare come forward.

Interesting how this play out.

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Diadora

Just a few short days after Chinese regulators gave the greenlight to petro-yuan futures trading, signaling an escalation in the war against dollar hegemony, President Trump is reportedly set to accuse China of “economic aggression” in efforts to “undermine international order” during his national security strategy speech on Monday.
http://www.zerohedge.com/news/2017-12-16/trump-slam-china-economic-aggression-and-undermining-international-order
In other words, higher interest rates, higher inflation coming!

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Best place on meth

Trade war!

Finally a smackdown of the vermin.

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history

Deflation coming, inflation coming. Higher interest rates, and lower interest rates. There will be jobs, and no jobs.
It’ll move so fast you need a strobe light to see it.

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