You know how it goes…
The Christmas music starts up, you start thinking of holidays and then you wake up 2 months later with a tremendous hangover and a huge credit card bill.
Welcome to the holiday season, lets kick this off as early as we can!
This week it’s going to be a Saturday free-for-all. Our regularly scheduled open topic discussion thread was delay.
Carry on!
Discussion of new national housing strategy, includes Paul Kershaw of UBC.
https://tvo.org/video/programs/the-agenda-with-steve-paikin/and-housing-for-all
Current strategy is fo put overflow into portables .
The system has also rewarded long term occupiers of houses. Unfortunately they are rapidly aging and are inefficiemt users of land.
Its been long acknowledged that particular peak boomers are dealt with by marginal infrastructure.
I live in my van
my junior High School years were spent in Portables
When i entered the Work Force, thousands of 65 year olds were terrified of Forced Retirement, to them it meant death.
There is symmetry between School portables and Seniors stressing entry into work force, 1970s, and with whats going on in housing today.
What amazes me is the number of Snivel Servants it takes Not to Illuminate us.
Keep fighting for your freedom of speech.
https://www.yahoo.com/news/tucker-trump-retweet-outrage-shows-220930759.html
There are many evil fuckers out there that will accuse you of hate speech if they don’t like what you say.
They are the scum of the earth.
Hate speech and racism are terms used by the left to shutdown anyone who wants to debate a view the left does not share. Why don’t the left want to debate it? Because they don’t have a good argument against the speech or viewpoint they want to shutdown. It is easier to label it racism or hate speech.
The terminally dumb love to whine about how unfairly treated they are. They enjoy nothing more than to imply that no matter how toxic their words any labels are unjustified. Well, cry me a fucking river. If you use racial slurs or defend other who do you’re a racist. You’re not having a reasonable debate of any kind. Accept the label as proudly as you use or defend your slurs, racist.
Prime Minister Justin Trudeau is visiting China in an effort to boost Canadian trade ties, opening a door his predecessor largely kept shut as a standoff festers with Japan over a rival pact.
https://www.bloomberg.com/news/articles/2017-12-03/trudeau-s-china-trade-mission-risks-upending-canadian-alliancesChina has long pressed Canada for free-trade talks but was rebuffed by former Prime Minister Stephen Harper, whose Conservative government was ousted in 2015. “Our view was that China does not — and will not — play by the same rules as everyone else and so free or fair trade is essentially impossible,” Rachel Curran, a former Harper policy director, said by email. “China is not interested in a level playing field.””
“
China has long pressed Canada for free-trade talks but was rebuffed by former Prime Minister Stephen Harper, whose Conservative government was ousted in 2015. “Our view was that China does not — and will not — play by the same rules as everyone else and so free or fair trade is essentially impossible,” Rachel Curran, a former Harper policy director, said by email. “China is not interested in a level playing field.” Xi has also made fighting corruption a top priority. Some 1.5 million officials have been ensnared in a six-year campaign that involves a push to see corruption suspects residing overseas returned to China — “a matter of life and death for the Communist Party,” Wang said. That will likely spur discussion of an extradition treaty, though Canada has remained cool to the idea and views it as distinct… Read more »
This takes the cherry:
A free trade deal with China would boost Canada’s gross domestic product by 0.14 percent by 2030, according to a 2016 report by Dawson and co-author Dan Ciuriak that recommended launching talks. But that may not be the sole motivation. Champagne said recently that “engagement is an imperative” for Canada when it comes to China, and that’s partly a family affair. Trudeau’s father opened ties with China as prime minister, a move Xi singled out for praise. Trudeau’s father and brother have each written books on China and the prime minister himself “wants to do more.”
And who should be blame? The people like you who voted for Trudeau. Do you miss Harper yet?
Unlike you, I am independent enough to criticize the behaviour of any politician. Whether I voted for them or not. Whether left or right.
As I said many times, people should be judged on their actions, not on their labels.
You should try it once. You might like it.
Do try to remember that Harper signed the execrable FIPA agreement with China in 2014, with a 35 year lock-in period.
Did we dodge a bullet: another moronic policy has been considered and, hopefully, discarded.
Liberals rethink expanding Home Buyers’ Plan over fears it will further fuel hot housing market. An internal document suggests high housing prices are a key reason the Liberals don’t appear to be in a hurry to fulfill an election pledge allowing use of RRSPs to fund down payments.
One has to wonder: who comes up with such idiotic policies? They must realize by now this handout would simply result in higher prices and little or no benefit to buyers. They need to take the punch bowl away, not fill it back to the top.
Flipper attempts nearly 5x profit within a year on Coquitlam property
https://thinkpol.ca/2017/12/03/flipper-attempts-nearly-6x-profit-within-a-year-on-coquitlam-property/
Numbered company = locust
Racial slurs = racist
“The Government of Ireland introduced a rezoning windfall tax in 2014 to prevent another speculative housing bust as the nation struggled to recover from a recession largely blamed on real estate speculation”.
This sounds like a great idea. It would stop land assembly scams overnight.
Will our politicians do this simple, sensible thing? Probably not. They are terrified of interfering with the bubble, just in case it blows up.
Surrey to consider legalizing illegal suites, suspending evictions
https://globalnews.ca/news/3894237/surrey-to-consider-legalizing-illegal-suites-suspending-evictions/
But the CRA does need to go after the undeclared rental income.
Little or no net rental income in many (perhaps most) such cases. The big enchilada is capital gains upon sale and that is clearly what they are gearing up for.
No net rental income from illegal suites? You are not making any sense.
Sound like you’ve never been a landlord. I have. Fill in this schedule with typical numbers for a suite rental and tell us what you get.
https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t776.html
Sounds to me like you don’t know what the word “illegal” means…
yes, but if rental income is grossly understated or not declared at all, then what methodology would CRA use to determine how or if capital gains should be owing? as far as the homeowner is concerned, the property is simply their principal residence
MNP Propaganda. There is No Way, No Way, No Way , No Way.. she want a short debt man http://mnpdebt.ca/en/blog/in-debt-buy-nothing-on-black-friday-bc “A recent poll conducted by Ipsos on behalf of MNP LTD reveals nearly half (45%) of British Columbians say their financial situation is the worst around the holidays – more than any other time of year. Much of this owes to the illusion of great deals and super savings advertised on Black Friday. Optimistically, more than half (57%) expect to cut back on spending this year; perhaps hoping to offset existing debt levels which have recached historic highs in recent months. “There is a way to avoid falling into retailers’ clever traps. Say no to Black Friday this year. Instead, take part in Buy Nothing Day. Resist the temptation and the pressure to buy expensive gifts. Think about how your… Read more »
Veiled program to distribute Welfare to Landlords
https://thetyee.ca/News/2017/11/22/Federal-Government-Back-With-Big-Dollars-for-Housing/
Cute Girl in China Picking Nose for 10 Mintues then Flicking
So, who’s the creep stealing my ID?
Chinese girl eat disgusting food
Incoming mortgage stress tests see buyers rush to make deals
http://www.timescolonist.com/business/incoming-mortgage-stress-tests-see-buyers-rush-to-make-deals-1.23111016
Hundreds of people have donated money to help defend Chinese journalist, Bing Chen Gao, accused of defaming a high-profile developer in an ongoing civil case in B.C. Supreme Court
http://www.cbc.ca/news/canada/british-columbia/miaofei-pan-bing-chen-gao-blogger-vs-millionaire-bc-1.4412847
“…the plaintiff Miaofei Pan, who was the subject of some of Gao’s posts, he claims the blogger unfairly targeted him and painted the respected businessman as a “hideous character.”
When you open the article you see Trudeau shaking hands with the developer Miaofei Pan, at his mansion in West Vancouver, during a Liberals’ fund raising event.
This is what really turns my stomach and makes me sick. Just open the article and look at the picture.
and Miaofei Pan is looking the other way and laughing.
And your point is…..?
Trudeau’s face expression – priceless. Like wiping dirty ass with the bare palm because you have no choice while still acting being happy.
And kudos to Meena Wong. She is making much more sense than some of our government officials:
“”Here I’m standing tall with journalist Bing Chen Gao,” wrote former COPE mayoral candidate Meena Wong under a picture of herself and other supporters outside court.
She says Gao’s writings are blocked in China, but he has a lot of support in Canada.
“We are Canadian, we have to stand with what we value. Freedom of speech. Freedom of press. Not to be afraid of being sued by millionaires,” Wong told CBC on Friday.”
So not interested in fighting Chinese/Hong Kong/Taiwanese fights over here. Let’s just build palliative and social housing units everywhere.
“Gao has become an outspoken activist bent on ridding Canada of so-called “problematic” leaders in the Chinese community, according to closing submissions filed by the plaintiff in a defamation case against Gao in B.C. Supreme Court.
Gao, who came under fire in 2016 for controversial attacks of Chinese and Canadian authorities, founded an organization to push Canada to restrict allegedly corrupt Chinese immigrants from entering the country, according to Pan’s legal team.”
This great patriot deserves our support.
Gao is such a better man than most of our current batch of politicians. All they can think of is the gravy train of Chinese dirty money.
Go on Gao! let information about these corrupt crooks flow freely!
The new frontier of money laundering in Canada.
Ottawa pressed on new registry to flush out mystery corporations. Finance Canada needs to fix corporate registry to expose secret owners of shadowy businesses: report.
Johnson writes in the report, to be made public Monday, that laws in Canada allow “one person to conduct business on another person’s behalf without disclosing their relationship, including agents, trustees, nominees, directors and nominee shareholders,” Johnson writes in the report, to be made public Monday.
Write to,your MP and tell them this is not acceptable.
Writing won’t do shit. Go to india or China and write there….they will laugh at you. Laugh.
Accept that those in power make laws and policy for themselves. If you want change, you have to force them out and gain power. That simple.
This wishy washy stuff doesn’t work anymore.
In case you haven’t noticed, we don’t live in China or India.
Laughing at you seems to make no difference. Why would the Chinese government laughing at the journos stop them?
Are you suggesting we should grab talwars and start chopping limbs and heads?
“Non-homeowners currently in their 50s face having to find huge amounts of money to pay ever-escalating rents”
https://www.theguardian.com/money/blog/2017/dec/02/pensions-timebomb-rents-homeowners
The gaurdian mentions the word RENT no less than 27 times in this story on Britains favorite activity. Once for every day left in December, one would presume..
bears say it’s better renting than owning. No?
Renting is stupid
This is obviously yet another article using scare tactics to coerce people to buy real estate . Anybody who doesn’t save for their retirement is a fool. But a house doesn’t have to be that savings vehicle.
Although i am but a lowly renting serf, I find it hard to argue with the scare tactics of this story. Had any one of the bears on this blog followed the advice in this article and bought 10, 15, 20, 25 years ago, that house purchase WOULD have proven to be a stunningly good forced savings, stable, tax-free savings vehicle.
Yes, some may have diligently saved in their RRSP’s, TFSA’s, and non-registered investment accounts, and within 25 years accumulated the equivalent of a paid-off Vancouver house. However i suspect most people being the flawed humans that we are, have probably spent most of their money on day-to-day expenses, the odd vacation, dance lessons for the kids etc etc etc.
Ulsterman, the government picked the winners. They have tax cuts and other enticements to owners (especially landowners, not the lowly condo serfs) and they forgot about anyone else. We have had 20 years of legislation for baby boomers, foreign buyers, and land speculators. Even in my most pessimistic scenario from 10 years ago, I could never predict what we the governments at all levels (from fiscal policy to monetary policy) would support housing at the detriment of society at large and the real economy. Prices went up by 350% in real terms over the past 20 years. No amount of scarcity justifies that: the government decided it was good to have this price runup. If you read the minutes of the Bank of Canada they still argue that interest rates should not be raised because this might damage equity owners… Read more »
The problem with you is your thinking is messed. You thinknothers think like you. They don’t.
They will continue on the path to ever higher prices until you fight back. Sociopaths are in power and they don’t care about anyone else.
Watch and see as families are priced out of rents. Can’t happen? It’s happening right now.
New thing coming is taking out mortgages to pay rents; take out a 10 yr rental mortgage to pay 5 years of rent.
Yup, and we know Horgan’s position:
“Housing is a critical component of many people’s equity and their retirement prospects, and we want to make sure we don’t adversely affect the marketplace,” he said.
http://www.cbc.ca/news/canada/british-columbia/horgan-udi-talk-november-2017-1.4404369
Maybe they didn’t set up to support housing per se; but supported whatever was the preferred investment vehicle of foreigners. That turned out to be land although that was knowable– looking at their ownership rates in Asia of 80% and above but 10 years ago everyone on this blog argued that was not a predictor of what would happen here.
A house as the road to riches is very 20th century; that ship sailed along time ago. I don’t expect to see the price appreciation in the next 25 years that we’ve seen in the last 25 years, which was mostly driven by ever lowered interest rates. Remember that past performance do not guarantee future returns.
Why do people continue to borrow sayings from stocks and apply them to real estate? Not saying you are wrong about the outcome but real estate is tied to available land and migration than economic cycles. But once the Chinese are allowed to invest their money in foreign stock markets, look out.
Or you could have bought bitcoins and then bought 5 houses around the world and retired. It is easy to pick the best speculative bubble investments looking in the rear view mirror. The question is what is the best thing to do today with your money. Vancouver houses and bitcoins likely ain’t it.
“i suspect most people being the flawed humans that we are, have probably spent most of their money on day-to-day expenses, the odd vacation, dance lessons for the kids etc etc etc.”
Life is about balance. If you live the prime years of your life putting everything into a house you may not have the best life experience overall even with a paid off house at retirement. Living in the same house cheaper paying rent, taking vacations, going out for dinner and allowing your kids to learn to dance may be better. Especially if you miss selling the house before the prices collapse.
interesting point of view. I have refused to buy anything in Vancouver, lower mainland, Victoria, for one reason: over valued. Besides, my job is very demanding: at work and even off work , mentally, physically and emotionally. I do not have the time and energy to deal with housing issues/concerns. But have on the other hand learned, set my mind on that b/c BC economy/housing has been messed up now for over 18 years (corruption, government that dont give a hoot) and I will not contribute to this mess by spending one penny more than absolutely necessary to live and stashed away money like no tomorrow in decent investment vehicles. And when I am finished with my work here, that cash comes with me, not to BC. Too bad so sad, but the BC governments/Cda government has drawn the line… Read more »
Have you seen what CRA does to a person when they want to quit Canada for another country after working and saving here all their life?
Have you seen rents lately? Just try to move. Probably be faced with a 50-100% increase.
More scaremongering by you. I have seen rents lately and they are just fine.
Hahahaha. Delusional.
My cousin will give you rental but of lots money delusional one. Ahahaha.
50-100% increase. That’s the measure of bullshit coming from you and your sockpuppets. http://www.cbc.ca/news/canada/british-columbia/b-c-renters-to-face-largest-allowable-rent-increase-in-5-years-1.4262651 It may be high, but it ain’t 50-100% you lying piece of shit. (You’ve admitted the lying part – remember that)
“this is obviously yet another article using scare tactics to coerce people to buy real estate ”
No it isn’t. If you pay attention to this article, and other articles in the Guardian it’s criticizing the increasing dependence of renters who cannot afford the UK’s inflated house prices on private landlords. Prior to the UK government promoting ownership (both owner-occupier and private landlord), people had the choice of renting with security in quality council housing or buying at a reasonable price. Now both are gone.
Anybody who’s retirement plan is to rely solely on a public pension for financial survival is an idiot. This article makes no mention of any other retirement approach than to buy an already overvalued house. And how many home owner seniors are there who are trapped in their overpriced houses because they can’t afford to move or don’t want to move or they can’t sell for whatever reason. Never mind the high cost of taxes and other expenses that all owners face. In a normal world I would agree with the author, but this is simply bad advice now and blatant house pumping.
The article does not recommend that anyone buy an overvalued house, indeed those who have trouble affording rents are not going to be able to buy. I don’t know how you can get this impression from the article, all I can guess is that you are colouring it with your impression of Vancouver media rather than understanding the Guardian’s point of view (hint; they are not pro-Conservative).
What’s the opposite of “rent”? That’s how I got my impression.
From the G&M: Housing Vancouver strategy: I want to believe in miracles. If you suspend your disbelief, fill yourself with nothing but positive intentions, and persuade a Jedi pal to wipe the past 10 years from your memory, you’ll find a lot to love in the Housing Vancouver strategy approved by city council this week. After all, who doesn’t want to see 72,000 new homes delivered over the next 10 years, with half of them affordable to households earning less than $80,000? Who doesn’t want to see 40 per cent of all new homes suitable for families? I for one look forward to the 12,000 social, supportive and non-profit co-op homes. And I’m certain the 20,000 new secure, long-term market-rental homes will be attractive, especially to young people. Not to mention the increased rental protection that will ensure all existing… Read more »
My cousin more smart than me. They buy presale with number company and then sell when condo made. Sell company sell condo and no foreign racist tax. Stah Lee Pak!, sorry. I feel sad my first cousin buy 2 and other cousin buy 3 but new cousin buy 10 presale with company and sell in Shanghai no foreign tax. they like Trudeau and Ndp more than me now.
My cousin tell me Trudeau in China motherland now. We love trudeau. get free trade and no more foreign buyer tax. we want all land in Vancouver and we want not pay tax. Trudeau help us and you haha
Holy fuck are you a loser Oracle. Wow. Not even a shade of plausibility…
Huh?
Are you the idiot that keeps downvoting like crazy? A post got 4 downvotes in a short period of time and then all of a sudden you post!!?
Caught red handed.
My downvotes are labelled with my handle. Just because you have a sock puppet menagerie, doesn’t mean others (or I) do.
Oracle, you’re such a loser even I get upvoted for saying so.
Too important of a story from Sam Cooper: “real estate buyers in B.C. are using shell companies, trusts and nominee buyers to hide their beneficial interest in property.” Eby said that James “is doing the policy work required to reform our land and corporate registries to increase transparency.”
http://vancouversun.com/news/local-news/more-to-come-on-money-laundering-allegations-b-c-attorney-general-says
Houses arent for living in.. that’s the job of vehicles now.
Merry Christmas, everyone!
Extended delay with new thread until First post at Mercury Station Retrograde… vci ..im watching.. i notice what you’re doing
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