Houses being sold at a loss

Southseacompany points out this article claiming speculators are leaving the local market and selling homes purchased in the last two years for less than the purchase price:

Dozens of homes in Metro Vancouver bought in the last two years are currently listed to be sold for a loss as speculators appear to exit Canada’s hottest real estate market.

An industry insider sent ThinkPol sales data for single family houses in the Lower Mainland showing roughly 40 properties that are currently listed for prices lower than what the sellers originally paid for them.

As the property purchases were made within the last two years, ThinkPol was able to validate this data using information published by BC Assessment.

price read the full article here

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GAV
GAV
2 years ago

“Houses being sold at a loss”?

It called money laundering.

trackback

[…] –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 – […]

Abdul Lahazi
Abdul Lahazi
2 years ago

Once a promising startup, now all that Istuary owns is auctioned off to pay millions owed: https://globalnews.ca/news/3918365/once-a-promising-startup-now-all-that-istuary-owns-is-auctioned-off-to-pay-millions-owed/ Company founder Ethan Sun and his wife Yulan Hu were also accused of taking money that they were supposed to use for their company and using it to buy multi-million dollar properties in Metro Vancouver. As many as 34 other corporate entities linked to Istuary are now being considered as a single employer under the Employment Standards Act. >>>> This happens again and again with chineeze companies and still we continue to court them to come to Canada and set up shop. When will we learn that they are all CROOKS looking for a fast buck? Remember Sino Forest? Another chineeze FRAUD and SCAM and there are many more. Never do any business with a mainlander chineeze. They cannot be trusted because lying,… Read more »

Abdul Lahazi
Abdul Lahazi
2 years ago

CREA says lower sales forecast will cost economy $1B in lost economic activity :

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

The association now forecasts a 5.3 per cent drop in national sales to 486,600 units next year. That new estimate shaves about 8,500 sales from its previous 2018 forecast.
CREA’s outlook is more pessimistic than the forecast outlined by Royal LePage in a report on Wednesday. In its market survey forecast, the real estate firm suggests its house price composite will increase 4.9 per cent next year to $661,919 even as stricter mortgage rules slow the housing market.

>>>> these LIARS need to get their stories straight…

Just me
Just me
2 years ago
Reply to  Abdul Lahazi

Short term pain for realtors, long term gain for society at large.
Hope they saved some of the hundreds of thousands they siphoned off from families.
Lowest of the low: realtors….

Joey
Joey
2 years ago
Reply to  Just me

I for one disagree. My parents are from China and would not want their investments to go down. A crash would send BC into a depression.

Spec
2 years ago
Reply to  Joey

Hmmm….. Good of you to be so forward with your new persona. LOL

Strata Hacker
Strata Hacker
2 years ago
Reply to  Abdul Lahazi

Why do you call them liars they have been right for years and years. Garth Turner and Sketchy and Boombust are liars and have been wrong for years. Makes me suspect it is not the truth you are seeking.

Just me
Just me
2 years ago
Reply to  Strata Hacker

They lie about the importance of Chinese money. They reduce its relevance to something marginal. They are clearly wrong, but keep going at it.
They are liars.

I agree that we bears have been wrong for years. But I could not predict the wall of Chinese Mooney that was unleashed between 2015 and 2016. That was apocalyptic, they brought prices up by 35%. And they were Chinese.

One more thing: very few things would make me happier than a house price crash ion Vancouver.

Joey
Joey
2 years ago
Reply to  Just me

Prices are already crashing. 2 year lows. Botton could soon be in.

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  Just me

Everybody is a liar to you despite them being the ones with verifiable facts and data. Whereas you have… well, nothing. Nothing at all.

history
history
2 years ago

China A State Driven Business Model Geared To Expand

http://brucewilds.blogspot.ca/2017/12/china-state-driven-business-model.html

If it’s not obvious already, this articles ciircular reasoning lands the Chinese money in Vancouver after a gallup around the global racetrack.

File it under sinosphere watching Nafta negotiations vewy carefully.

ostritch
ostritch
2 years ago

At the Hillary thing, Bob Rennie cried while reading the letter Chelsea wrote to her children explaining the election loss.

Just me
Just me
2 years ago
Reply to  ostritch

My heart breaks thinking of Bob Ronnie. How disappointed he must have felt on election night.
I would never vote for Trump. But I guess the fact that Bob Ronnie is against him is a mark of honour for Trump.

Lost...but not Leased
Lost...but not Leased
2 years ago

Re: capital gains and principal residences..

Morneau was recently interviewed by Global BC

Apparently, there is now a requirement to report the sale of one’s principal residence, they have to live in them every year they own them in order to avoid paying tax.. He claims this will reduce flipping and speculation.

Could get interesting….

Just me
Just me
2 years ago

Link?
If they recalibrate the live-in requirements, it would be a game changer.

Just me
Just me
2 years ago
Reply to  YVR

At some time? Does not seem strict at all. I could move for a few weeks and pocket the full capital gain? Seems unfair to other taxpayers.

YVR
YVR
2 years ago
Reply to  Just me

You do have to live there each and every year. I don’t know if “live in” is one night or one month. If someone only owns one house it not hard to claim it as a PR. The new rules at least make it hard to claim more than one house as a PR although I am sure many will try.

Just me
Just me
2 years ago
Reply to  YVR

We clearly knack enforcement power. We need to beef up the CRA sections that specialize in RE fraud.

bullwhip29
bullwhip29
2 years ago
Reply to  YVR

the purpose of the new rule is two-fold

– both the designation and/or sale of principal residence now on record
– if owner does not file a tax return in 2017. 18 or beyond (ie. not a resident for tax purposes) and then attempts to somehow claim the principal residence exemption upon selling the property, he/she will be subject to further questioning

bullwhip29
bullwhip29
2 years ago
Reply to  Just me

Under the Income Tax Act, for a dwelling to be a “principal residence,” one of the key conditions is that it must be “ordinarily inhabited in the year by the taxpayer, by the taxpayer’s spouse or … by a child of the taxpayer.”

>>> “ordinarily” is strict enough. if the person has no record of employment, school or other associations within the local community and travels “frequently” I’d gather that this would not go unnoticed for long.

bullwhip29
bullwhip29
2 years ago

this isn’t anything new

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  bullwhip29

Re Capital Gains and Principal Residences. When HAM from Hong Kong came in the late 1980’s….many houses sat vacant for months prior to demolition. One would find stacks of mail ……majority were Chinese names..the mail was mostly utility bills…this is an olde trick to claim residence for that house and game the system. In South Asian community…also rampant. They would build a home, live in it for a very short time, then often acquire a home nearby..often next door, build new and repeat the process. Of course,they would employ only members of their ethnicity…whose the racist ? The majority of these houses are sold to the Chinese. If CRA even lifted the rug on the aforementioned, the revenue stream would be huge.Re Captital gains and say “stock market.” CRA has determined that if one dedicates a lot of time playing… Read more »

Abdul Lahazi
Abdul Lahazi
2 years ago

And the EI’s only hire their own and pay cash under the table so it costs less for the labour. The trades also pay cash under the table and it’s not uncommon to see old turbaned men on the job site doing the manual work like fitting plumbing or doing wiring and the builder saves a fortune on the labour costs vs. hiring a qualified electrician. It only has to pass inspection; and no one will know it wasn’t a certified electrician or plumber who did the work.

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  Abdul Lahazi

Anecdote:

Caucasian guy was in midst of a discussion with an EI realtor listed property and EI potential buyer.

The EI realtor sold to a Non EI purchaser.
The other EI railed into her saying EI mony must stay/be circulated in the EI community…basically calling her a traitor.

Which leads to “Temple Money”..I keep hearing stories abut their EI ” Temples” act as banks to the EI community..

……anyone care to comment?

Best place on meth
Best place on meth
2 years ago

Vancouver City Council approves $18-million plan to demolish Granville Loops

http://dailyhive.com/vancouver/vancouver-granville-bridge-granville-loops-demolition

Now will the city be using this newly freed up land to build much needed public housing for working class people of Vancouver, or will they sell it off to developers who will promptly build more condos that will be snapped up by “locals” in Beijing, Shanghai and Hong Kong?

YVR
YVR
2 years ago

It will be a combination of locals from Beijing and homeless shelters and rooming houses. Nothing for the working class. Same as Selina’s plan for the rest of BC. Lets just hope they build actual buildings and do not just stack up a bunch of shipping containers.

history
history
2 years ago

Build a Canadian Military base, with large holding pens….they gonna need it, considering all the fuken crime in BC

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  history

News story re Bike Shop business down because of COV bike lanes construction 8 months overdue.

My guess is COV is being sweet- talked by Developers to free up more civic land currently dedicated to traffic by making vehicular traffic increasingly more difficult …..

This convoluted argument will claim it will force people onto bikes. if they sell the land(to developers) after road infrastructure is demolished ?!?!

history
history
2 years ago

We need a big wide open space that allows the mustering of fraudsters marching together locked arm in arm in Debt holding joy, jackbooting, and exclaiming HEILBanker! One Arm Salutes!

They need a central edifice, designed by a world renowned Architect, so that it re-inforces Vcr as the best debt in the world… so, to answer your question… im sure the site plans are drawn up by our RE fuhrers somewhere… in secret.. with a deep pocketed global occultist trying his damnest to outdo Vatican city.

Abdul Lahazi
Abdul Lahazi
2 years ago

They should just close all the streets and bridges now and get it over with.

Bag it and tag it
Bag it and tag it
2 years ago

Realtor friend of mine bought a place in the ‘The Mark’ (I think that’s what it’s called)…his unit looks straight out at the Seymour ramp, and he told me 3 years ago that they were going to tear out the loops soon and it would go up in value. I’m curious about how this information initially gets out there to a favoured few and if the public fully notified at the time city planners reveal their plans to developers and the like.

YVR
YVR
2 years ago

The CoV announced the plan to take out the loops 10 years ago. It is available for anyone to see on their website. The problem with your friends plan is they are going to build a bunch of buildings in the view corridor in front of the Mark. Keeping the loops would be better for property values.

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  YVR

I remember a realtor telling me about it in 2008-2009 or somewhere around that time. No idea if the plan changed since, but they were talking then about another public market in the style of Granville Island.

bullwhip29
bullwhip29
2 years ago
Reply to  YVR

i tend to agree with you. space isnt opened up for the benefit of existing residents. coal harbour is no different as the waterfront simply gets moved.

Just me
Just me
2 years ago

This is for SIDA and the other liars on this blog:

“Chinese buyers account for nearly a quarter of all new-built purchases in Sydney and about 15 percent in Melbourne, according to a Credit Suisse analysis of government taxation records between January to June 2017.”

Just me
Just me
2 years ago
Reply to  Just me

Regulations only allow Chinese nationals a foreign exchange quota of $50,000 a year and since July, the nation’s banks have been required to report any overseas transfers by individuals of $10,000 or more.

While the rules were often flouted in the past, doing so now has become increasingly difficult, some money transfer agents told Reuters.

“It is almost impossible to send the full (settlement) amount from mainland China,” said Felix Su, financial adviser at foreign exchange firm KVB Kunlun.

At the same time, under pressure from regulators to douse risky lending in the real estate sector, Australia’s biggest banks stopped loaning money to foreigners.

Just me
Just me
2 years ago
Reply to  Just me

While the impact of China’s capital crackdown is less obvious in other markets popular with Chinese investors such as Canada, the United States and London, demand has cooled more generally, according to agents.

In the UK, for example, property buying enquiries have likely fallen 10-15 percent in 2017 compared to a year ago and many buyers have reduced their budgets, said Carrie Law, CEO of China’s largest international property website, Juwai.com.

Bestplaceonearth
Bestplaceonearth
2 years ago
Reply to  Just me

Keep blaming others for your misfortune, and wait for NDP hand out. Instead of spending time posting your useless usual, get real job to change your life around.

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  Just me

This justifiably puts the crosshairs on Canada…perhaps what cannot be accomplished from within can be achieved by pressure from the outside, moreso as Canada’s reputation gets increasingly pummelled on the international stage.

Canada can be in all sorts of denial re: HAM, but they best be concerned about non HAM investors……it will be required to fill the void when the collapse happens,..as HAM skews the actual RE market and the classic metrics .

As I have submitted previously.. …..watch closely what is happening in Australia and New Zealand re: Real Estate……, rest assured it will be mirrored here in Canada.

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  Just me

Why would capital crackdowns affect Canada, UK, and USA differently then?

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  Just me

Hey dummy, it’s not obvious where to start with this but I’ll have a go: 1. Foreigners are restricted to buying only new properties in Sydney. Do you not therefore think it’s an obvious consequence that they would represent a higher proportion of buyers in the small sub segment of the market they’re allowed to participate in? 2. New properties represent a tiny proportion of the overall market. So that’s 25% of a tiny proportion. That still leaves locals making up the vast vast majority of purchases. 3. Australia is not Canada. You’ll note that the data and stats I’ve presented relate to this country, not Australia. So it’s a bit of a strawman from you, wouldn’t you agree? 4. The article you copied/pasted that from yet couldn’t be bothered to link to was talking about locals being taken on… Read more »

patriotz
2 years ago

To put it more succinctly, while foreigners are restricted to buying only new properties, still 75% of new properties are sold to locals. So the foreigners are not even pricing locals out of the small market segment they are restricted to.

Just me
Just me
2 years ago
Reply to  patriotz

Local buyer does not equal local money.

Those figures are a conservative lower bound on the impact of Chibese money.

I thought you got it after all these years. Instead you insist in your original, mistaken thesis. I would expect more from you. But I am not surprised any more. After you moved to a Ottawa you just became a bitter old man.

Bear Vancouverite
Bear Vancouverite
2 years ago
Reply to  Just me

patriotz owns a house at a good rent to own ratio, and has a good investment portfolio from what it sounds like. I think he’s less bitter than most here.

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  Just me

The article you quoted yet couldn’t be bothered to link to does not support this twist you’re giving to the narrative. So you’re back to baseless assertion once gain.

Just me
Just me
2 years ago

B,ah blah blah….and Chinese money does not matter for prices….blah blah blah…..in other news: earth is apparently flat….I am going to give you a bulletproof point list showing why that is the case.

Clown.

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  Just me

Be classy for once and admit your mistake.

UBC in crisis mode
2 years ago

President Xi is doing some good:
Chinese capital controls send tremor through Australian property
https://www.reuters.com/article/us-australia-property-china/chinese-capital-controls-send-tremor-through-australian-property-idUSKBN1E136S

Just me
Just me
2 years ago

True. But he needs to tighten even more. Cash still leaks out in large quantities.
If he manages to stop the flow, the world will feel it everywhere from Australia to Portugal, from Hong Kong to Vancouver.

Just me
Just me
2 years ago

Gotta love this bit:
The homes were mostly being sold by Chinese investors unable to make settlement on their investments as Beijing cracks down on money flowing out of China and restrictions on Australian banks lending to foreign investors bite, the company behind the tour said.

Just me
Just me
2 years ago
Reply to  Just me

WE need the government to stop Chinese speculators from borrowing, like the Aussies did:

“The homes were mostly being sold by Chinese investors unable to make settlement on their investments as Beijing cracks down on money flowing out of China and restrictions on Australian banks lending to foreign investors bite, the company behind the tour said.”

paulb
paulb
2 years ago

New
82
Price Change
27
Sold
93
TI:8699

http://www.clivestevepaul.com

Abdul Lahazi
Abdul Lahazi
2 years ago

Poloz says Canada’s economy in ‘sweet spot’; warns of cryptocurrency’s allure:

https://www.theglobeandmail.com/report-on-business/economy/poloz-says-canadas-economy-in-sweet-spot-warns-of-cryptocurrencys-allure/article37325511/

“Bank of Canada Governor Stephen Poloz says Canada’s economy has reached a point of near-perfect balance, with most companies running at full capacity and inflation nearing the central bank’s elusive 2 per cent target.”
“We are at a point in the economic cycle that I think of as the “sweet spot,” Mr. Poloz said

>>> And still Poloz continues to drag his feet on raising interest rates…

Just me
Just me
2 years ago
Reply to  Abdul Lahazi

Polos is terrified that the big tree branch in the garden will fall on the roof of our massive housing bubble.
He is nothing less than an enabler.

Best place on meth
Best place on meth
2 years ago
Reply to  Abdul Lahazi

Everything is awesome in the Canadian economy, that’s why the BOC rate is at 1%.

Bestplaceonearth
Bestplaceonearth
2 years ago

It’s is. Your brain is so messed up for seeing it.

Shut It Down Already
Shut It Down Already
2 years ago

You’ll miss out on the coming TSX boom, too. Will you also blame foreigners for that?

Abdul Lahazi
Abdul Lahazi
2 years ago

Foreign buyers remain resolute in Richmond:

http://www.richmond-news.com/news/foreign-buyers-remain-resolute-in-richmond-1.23094930

In Richmond, foreigners were involved in 318 transactions, whereas in Vancouver they were involved in 259.

From January to September, foreign buyers have paid about $36.2 million in additional taxes (from the 15 per cent tax introduced last August) in Richmond alone, meaning they’ve sunk roughly $241 million into homes.
The monthly rates appear to have stabilized following the Aug. 1, 2016, implementation of the foreign buyers’ tax.

>>>> so the locusts want our property so badly they are willing to pay a hefty premium for it. So we should up the tax to 30% and make it province wide.

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  Abdul Lahazi

Translation:

City of Richmond has absolutely no intention of even remotely addressing a situation that is out of control…… which even commie COV admitted exists and took action on.

City of Richmond is likely the most compromised of all HAM infested cities.

Laibach
Laibach
2 years ago

Richmond is under locust’s jurisdiction and HAM is their religion.

Joey
Joey
2 years ago
Reply to  Laibach

Housing is at a 2 year low. And HAM has been proven to be a myth.

Just me
Just me
2 years ago
Reply to  Joey

Rather, you have been just proven to be delusional.
Eart is not flat. Chinese money is the main driver of RE values in Vancouver. Both statements are true..

Boombust
Boombust
2 years ago
Reply to  Abdul Lahazi

The REBGV number is 3.1% for October.

Bear Vancouverite
Bear Vancouverite
2 years ago

@Dave said: “A 2% tax isn’t going to do much but increase government revenue. That’s a low cost in the World of money laundering. Dirty money will happily pay the rate of inflation.” Money laundering and foreign investment is just one portion of the speculation out there. The 2% tax will definitely kill speculation. Let’s examine the different types of speculators: Foreign speculator: If they own a house worth $3M they will be paying $60k/yr in taxes, plus another $30k if the home is empty. If there’s any sign of slowdown in price appreciation these guys will high tail it out of there. Local speculator: Can’t afford 2% tax on top of carrying costs. Money launderer: Will now be paying $60k more per year on each $3M they own. if this doesn’t give them cold feet the CRA investigations will.… Read more »

Dave
2 years ago

Fearmonger? I have been posting here a long time and I think I have built a lot of credibility. I’m just telling you how I see it. I never said the NDP wouldn’t form government. I put my money (literally) on a minority government, using the UBC election market. While I expected a slim Liberal majority, I thought the odds of a minority government to be at least 1 in 4. Very early in the NDP government, I said it had the potential to have legs. At the time, the media and most commentators did not think that. I still think it could have legs, which to me is a 50:50. I didn’t think they would follow through on housing. To this point, that’s still the case. Hopefully they do something and I think Horgan gave us some hope yesterday.… Read more »

Bear Vancouverite
Bear Vancouverite
2 years ago
Reply to  Dave

Time on the site and volume of posting have nothing to do with credibility, or else Space and Oracle would be two of the most credible posters here. And on the scale of credibility there are probably 10-15 posters here who rarely post now who are several rungs above you or I.

You are on record as making several fear mongering statements including your (factually wrong) statement that the OSFI stress tests will be circumvented by people going to the “well capitalized” credit unions.

Shut It Down Already
Shut It Down Already
2 years ago

Bear Vancouverite is correct, Dave.

Trust him on this.

YVR
YVR
2 years ago

The 2% tax would not hurt speculators much directly. It would hurt the non-tax paying multi-million dollar home owning PR and foreigners. It would make BC a much less attractive place for the satellite family. People flipping a house wouldn’t care about the 2%. It is less than the realtors commission. They would care that all those satellite families will stop coming and many would leave. The net effect if it was done right would be huge in the HAM areas. Too bad there is no chance the NDP will follow through. As Horgan said he will protect peoples equity for their retirement and as Carol James said the NDP will not target “newcomers” in he budget housing policy.

Bear Vancouverite
Bear Vancouverite
2 years ago
Reply to  YVR

People flipping houses won’t care about 2% levied per year while they wait for the property to increase in value? So if you were holding a condo worth $1M, paying $20k per year in speculator taxes, you won’t care? I seem to recall you being worried about a 1% increase in taxes on income. Since people in that tax bracket will likely see a tax increase of say $2k per year, how can you seriously say that someone would not care about a $20k/year tax? Anyone who thinks that 2% tax per year on speculators won’t have an impact is not being honest with themselves about something. A speculator would have to carry that extra cost for the time they are holding the home, and the burden of proof required to avoid the speculator tax will expose all speculators to… Read more »

YVR
YVR
2 years ago

“People flipping houses won’t care about 2% levied per year”

People who “flip” houses don’t hold them for years. The term means you buy it and the sell it again usually within months. Even if you hold it for a year $20K on a $1M flip is nothing. Read my post again. I didn’t say a 2% tax wouldn’t have an effect. I said the flippers wouldn’t care. People who hold houses for years are not flippers. Either way it doesn’t matter because the 2% tax is not happening under the NDP.

Diadora
Diadora
2 years ago

More dirt from thinkpol: Land assembly speculators shadow flipping to skirt foreign buyer tax
https://thinkpol.ca/2017/12/14/land-assembly-speculators-shadow-flipping-to-skirt-foreign-buyer-tax/
Thank you Thinkpol!

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  Diadora

Love this quote:

……” If Vancouverites, especially the young ones, found out just how much my industry has ruined their future out of sheer greed, there will be mobs out on the streets with pitchforks “……..

Its never too late to cash in ” Canadian Tire” money…..

Best place on meth
Best place on meth
2 years ago

Never mind the young ones, I’d love to throw the leaders of the real estate cartel into a crocodile pit and watch them get ripped to pieces.

Cam Muir would be the most fun to watch. Phil Soper second. Rennie, the scum running CREA and TREB, god there are so many…..

Just me
Just me
2 years ago
Reply to  Diadora

Great job by Tpol, as usual.
I wish the authorities had the inclination and time to follow up on these leads. We are becoming a failed state, in which we simply raise our hands and say we cannot pursue criminal behaviour for lack of resources.

YVR
YVR
2 years ago
Reply to  Diadora

If this happened last year Eby would be holding a press conference. Now he is in government he looks the other way. Anyone find that odd?

Best place on meth
Best place on meth
2 years ago
Reply to  YVR

No.

I don’t even find it odd that you’re constantly lying about them, considering that you’re a life-long NDP hater.

YVR
YVR
2 years ago

I guess we are now so used to the NDP lying and corruption it no longer seems odd when Eby goes into hiding. Anyone seen him since he was made AG?

BTW, nice to see you are getting over the Site C NDP debacle. I thought you would be out for at least a week.

Bag it and tag it
Bag it and tag it
2 years ago
Reply to  YVR

Gotta love you Liberal pumpers for criticizing the NDP for not cracking down fast enough, even though they have done more in months to clean up the stench in this province than the Liberals did in 17 years….and the purpose of your criticism is what? …so we can get the NDP out and put the Libs back in who will do absolutely nothing about anything like this and stick to throwing gas on the housing fire every time it starts to fade?

YVR
YVR
2 years ago

The purpose of the criticism is to point out what a fool you are for thinking the NDP was going to keep any of their campaign promises. The NDP have reneged on every campaign promise and you are too stupid to figure it out. Now go put on your dunce cap and sit down.

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  YVR

But he so badly wants to believe all that Robin Hood crap! Why work hard when you can just hope that the government gives you stuff?

Bear Vancouverite
Bear Vancouverite
2 years ago
Reply to  YVR

Nobody on this blog cares about Site C except for you apparently. I certainly didn’t factor that in when deciding who to vote for.

history
history
2 years ago

http://obortunity.org/2017/12/12/china-leverages-belt-road-investment-shape-pakistan/

Fascinating intersection of Asia, with many of the parties sending their hordes to Canada, feeding the unsustainable housing boom. China, India, and Pakistan, and all their other sub groups are wildly bullish on the home turf in this part of the world, and, of course, through constant navel gazing, this transcends to wherever they live and breed overseas.

So, not really that surprising to Heloc the hell out of homes in FV and shadow fund a big Rise in home prices in this part of Canada.

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  history

When HAM dries up…there will be a lot of distress in the South Asian community. They have rolled the dice and literally taken over the SFH , and smaller project Townhouse and Condo market…catering to the HAM market.

Drive by their construction sites and you will not see a NON South Asian from start to finish.

Caucasians are increasingly marginalized, but at least fewer will be set up for the big collapse.

history
history
2 years ago

“Despite progress, acting SF Mayor London Breed inherits homelessness problem”

http://www.sfgate.com/bayarea/article/Despite-progress-new-mayor-inherits-tough-12429029.php?t=128995de1a

The sudden change in SF mayors is worth keeping an eye on…
Cali fires fascinate me. Have a look at the stars the day Cali inaugarated Sep 9, 1850

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  history

Dangerous question..
Depends on how DEEP STATE one wants to go…

Diadora
Diadora
2 years ago

Artist Flees Beijing After Filming Devastation of Mass Evictions
In some ways, she said, it was worse than the wartime occupation by the Japanese.
https://www.nytimes.com/2017/12/12/world/asia/china-beijing-migrants-eviction.html?smid=tw-share
T2 has turned a blind eye and open the door to one of the worst human rights country!

Diadora
Diadora
2 years ago
Reply to  Diadora

Mr. Hua said “I hope people living in free countries can pay attention to those in unfree countries, and I hope people in unfree countries can bravely stand up and fight for the rights and dignity of being human,”

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  Diadora

T2 alleged father T1 was a big fan of Castro(T2’s likley father).

T2 is simply finishing off what T1 started, turning Canada into a Turd World Communist country.

Just me
Just me
2 years ago
Reply to  Diadora

Apparently the regine has also started genetic profiling in a western Province. Indications are that it will be used for organ harvesting. But Trudeau and McCallum insist we need to “engage” with China.

China sparks human rights outcry by ramping up DNA testing in Muslim-dominated region.

Police in Xinjiang purchase $8.7m of equipment to analyse genetic material from citizens, prompting fears of state security crackdown.

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  Just me

Pass the hat and send SIDA undercover and report back….

Bag it and tag it
Bag it and tag it
2 years ago

Better we can get a DNA sample from SIDA to give to the Chinese government, allow with his address.

Bag it and tag it
Bag it and tag it
2 years ago
Reply to  Just me

Another reason why Trudeau ‘admires’ China?

history
history
2 years ago

http://www.thesantabarbararealestateblog.com/2017/11/26/the-real-estate-concierge-2/

Move over Agent there’s a new name for you Concierge

Article predates Santa Barbara raging forest fire

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  history

I can see SIDA as an RE concierge….

Tin foil hat on top of welding goggles to assist in denial….

Shut It Down Already
Shut It Down Already
2 years ago

Canadian debt now stands at a record $1.71 for every dollar earned.

http://vancouversun.com/personal-finance/debt/debt-to-household-income-ratio-rises-in-third-quarter-to-171-per-cent

Presumably that’s because rich foreigners are buying their houses from them.

Laibach
Laibach
2 years ago

A classic and annoying demagogy from the same shill. An extremely lame argument to minimize a foreign factor and injection of offshore money in the local market due to some retarded liberal ideology and racial obsession.

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  Laibach

Why the new name, Combat Roach?

Laibach
Laibach
2 years ago

It is the old name, just lazy to deal with remembered fields. The same shit – no games, don’t worry.

YVR
YVR
2 years ago

“Canadian debt now stands at a record $1.71 for every dollar earned.”

Could all those multi-million dollar houses (with mortgages) that have PR owners with no income have something to do with it? You know those areas with the highest child poverty like West Vancouver and Richmond.

southseacompany
southseacompany
2 years ago

“Canada’s housing risks haven’t gone away — they’ve just moved to the shadows”, Financial Post

http://business.financialpost.com/real-estate/risk-shifts-to-shadows-in-canadas-whac-a-mole-housing-market

“New rules that make it tougher to get a mortgage are driving borrowers to a lending market where there is less oversight and regulation”

history
history
2 years ago

‘Lancing Zit’ meme makes another appearance

In todays Newz, is Pinky standing next to Bully visa holder?

Shut It Down Already
Shut It Down Already
2 years ago

It’s not the rules driving them – it’s their greed and stupidity.

Lost...but not Leased
Lost...but not Leased
2 years ago

Quote ( from article ):

” *** ROUGHLY 90 % OF NEW MORTGAGES IN TORONTO AND VANCOUVER ARE NOW UN-INSURED ***** ”

also:
—— Gov’t insurance is forbidden on homes priced over $ 1 Million

—– Overall, 49% of ALL mortgages are UNinsured

—– Credit Unions hold about 17% of UNinsured mortgages

Quote: “Canada’s patchwork regulatory system also doesn’t encourage comfort”(Benjamin) Tal said

The article meanders, with some assurances from alternate lenders…..but the aforementioned data should be rather concerning ???
Most lenders are the biggest candidates for FOMO.

KickThemOut
KickThemOut
2 years ago

Don’t go to China! 170 million surveillance cameras now, with 400 millions more by 2020!

China’s CCTV surveillance network took just 7 minutes to capture BBC reporter

https://techcrunch.com/2017/12/13/china-cctv-bbc-reporter/?utm_source=tcfbpage&sr_share=facebook

Lost...but not Leased
Lost...but not Leased
2 years ago
Reply to  KickThemOut

China CCTV surveillance cameras?

Here in BC they have 2 legs, drive BMW’s, launder money , feed SIDA with used chopsticks , and have GT denying their impact.

Lost...but not Leased
Lost...but not Leased
2 years ago

Also:….capture BBC reporter..big deal…stood out like a sore thumb…
Facial recognition technology doesn’t work for 99.999% of China…cause can’t differentiate them…

history
history
2 years ago

http://www.debtsavvy.ca

This guy Scott Terrio has built a nice niche for himself as an DebtPrison Administrator (insolvency clerk). Featured on Wolfstreet-

Lots of good stuff in there that Swine Media wont talk about.

Hey, where are the Stats Scott?
Ie. Insolvent Helocers recruited to house intl student visa fraud immigration racket, meanwhile people pile up on the street homeless

history
history
2 years ago

https://wolfstreet.com/2017/12/13/canadian-homeowners-take-out-helocs-to-fund-subprime-buyers-unable-to-get-a-mortgage/

There are a few comments that fringe the Landlord/heloc welfare schemes. Nothing about how immigration, intl students and various forms of indentured slaves keep the ponsi housing going, esp on the West Coast. A few good comments on the role of Alberta Oil, and its Transportation.. keep your eye on that.

bullwhip29
bullwhip29
2 years ago