Fraser valley boom

You know Vancouver is hot, but did you know that house prove gains in the Fraser valley are outpacing Vancouver? Southseacompany points out this CBC article with the details.

“The Canadian Mortgage and Housing Corporation says demand for less expensive condominiums and apartments in North Delta, Surrey and Langley has inflated prices at a sharper rate than in Vancouver.”

“”Those municipalities have some of the most affordable units in the region, particularly for condos,” he (Eric Bond, a regional analyst with CMHC) said. “For first-time buyers, given the price increases we’ve seen in the rest of the region, often those units are what’s most interesting to them.”

Read the full article here.

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[…] –Green party calls for speculator and flipping tax –AirBnb tax deal –Will BC close bare trust loophole? –The epicenter of scams –empty home tax windfall –Mortgage rates going up – […]

Lost,... but not leased
Lost,... but not leased
2 years ago

Bwahahahaahaaha

Commie pissing match..

Alberta NDP gov’t is boycotting BC wine….due to the pipeline dispute with BC NDP.

Just me
Just me
2 years ago

Best news of the day so far?

“China’s forex new year resolution: hit illegal currency outflows hard in 2018. Foreign exchange regulator promises to tackle underground banks in the interest of national security”

http://www.scmp.com/news/china/economy/article/2132140/chinas-forex-new-year-resolution-hit-illegal-currency-outflows

China will step up its crackdown on foreign currency crimes, including underground banking, to safeguard “national economic and financial security”.

The State Administration of Foreign Exchange said on Monday that it worked with police to raid roughly 100 underground banks involving “hundreds of billions of yuan” and arrested more than 100 suspects last year.

This year the foreign currency regulator would wage the campaign with “even greater enthusiasm” to punish operators and clients of underground banks helping Chinese move their money overseas. It would also clamp down on illegal activities under the guise of “innovation”.

Just me
Just me
2 years ago
Reply to  Just me

The announcement suggests that there is unlikely to be any relaxation in China’s draconian capital account controls, even though the yuan has strengthened to a two-year high against the US dollar.

From January 1, account holders can withdraw a maximum of 100,000 yuan (US$15,000) a year in total overseas from their Chinese bank accounts, rather than the previous 100,000 yuan allowable from each account.

In China, each person can change up to US$50,000 in foreign currencies a year, with any amount beyond that requiring special permission.

The Chinese government also bans mainland residents from buying overseas securities or properties directly apart from via designated channels such as the Hong Kong-Shanghai stock link, forcing many residents to turn to money brokers, or underground banks, to send funds abroad.

Just me
Just me
2 years ago
Reply to  Just me

Could this be the real reason why only 30 or so SFHs have been sold in Vancouver’s west side over the past 2 months?

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Just me

Did you write this? or steal it?

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Just me

Best news? Will your life improved by this piece of news?

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  Just me

More f*cking foreign locust bullshite

China is approx. 5,000 years old.

…the sino bullshite goes back to the dinosaurs

Oracle
Oracle
2 years ago

More HAAHAHa

Empty homes deadline extended by another month since 7000 homes haven’t replied. What happened to the 25,000 empty homes??? Hahaha. It was the definition I told you about. Got no time to reexplain it to you again.

Oh huge day for physio, chiro, massage today. Their payment basically doubled at the expense of you. Yeah you. LmAO.

Oracle
Oracle
2 years ago
Reply to  Oracle

Sonu Sara on cknw just cut someone off when he mentioned grid scale changes coming. Wow.

This is an orchestrated scam.

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  Oracle

Grid Scale?

Please explain ……

Oracle
Oracle
2 years ago
YVR
YVR
2 years ago
Reply to  Oracle

The only tax in history they give an extension for no reason.

The city says it will be offering a one-month extension to the more than 7,000 homeowners, which is about four per cent of property owners, who have yet to file a declaration.

Does anyone think any of those 7000 homes are occupied?

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  YVR

Foreign Locusts require special privileges.

Probably Jenny Kwan and that ” Stan lee Pok” lady lobbied Glegol Lobertson that Chinese culture of lie cheat and steal is being discriminated against.

bestplaceonearth
bestplaceonearth
2 years ago

only 7000 empty homes? what happened to the number provided by the elite SFU and UBC professors?

Burt
Burt
2 years ago
Reply to  YVR

Or is the City reluctant to admit that they have 7000 empty homes on their hands?

Repo
Repo
2 years ago
Reply to  Oracle

EBy wearing big boy pants today next up piss on housing prices … their payment may double but the volume will vanish… minor injuries are the bulk of the bizz. Go make yourself useful

Oracle
Oracle
2 years ago

VCi Admin bought a house?? MIA

On another note, ICBC continues.

The raping of customers to continue. $5500 injury cap for small claims. Doesn’t affect Lawyers, Doctors, Bosy Shops, or Autoplan brokers.

What’s not mentioned is the bigger change coming this May. It will hurt good drivers YUGEEE!

NDP is a scam backed by the Lib/Media machine. If you can’t see it now then no damn hope for you.

bullwhip29
bullwhip29
2 years ago
Reply to  Oracle

maybe he is trying to figure out what happened to his bitcoin and other “investments” that just went up in a puff of smoke in the last few days?

bullwhip29
bullwhip29
2 years ago
Reply to  Oracle

on the icbc note…the cap will NOT apply to wage loss, medical care, legal costs, so there are plenty of ways remaining for the usual suspects to continue their rape and plunder…

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  bullwhip29

Translation:

Eby is a member of the Legal Cult…no way in hell will they deny each other access to blood money…all quid pro quo.
Pound of flesh is still guaranteed.

Eby simply used deflection strategy used by magicians/illusionist.

Repo
Repo
2 years ago
Reply to  Oracle

Why are my lawyer buddies pissed off today? Volume will half come April fools 2019. Grab a brain Ocrackle

Burt
Burt
2 years ago

I do find the bifurcation between SFH and Strata perplexing, thought highly beneficial to me.

Condos up 2 points in January alone, SFH flat or down.

This trend keeps over remainder of year, and you will have a lot of equity leaving Strata to purchase SFH in 2019.

Interesting change – wonder how much this has to do with presales being conducted outside of Canada?

bullwhip29
bullwhip29
2 years ago
Reply to  Burt

buyers shifted sights lower for obvious reasons + no FBT on presales + carry over from krusty’s first timer loan program

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  Burt

Strata is RE equivalent of Bitcoin…

Suckers are being lured into this option. 1000’s of strata units are built every year…as opposed to SFH.

When SHTF….strata will tank and SFH will still hold hold their value to a much greater degree.

Shut It Down Already
Shut It Down Already
2 years ago

Strata at least pays you rent equivalent. Bitcoin pays you nothing and has zero intrinsic value.

Lost,... but not leased
Lost,... but not leased
2 years ago

Strata can pay all sorts of rent…..but when all these thousands of strata (…..bought by money launderers and over leveraged idiots who swallowed the kool aid) nose dive in value…..rent becomes insignificant

Shut It Down Already
Shut It Down Already
2 years ago

Dumbass, rents sets a floor as to how low prices can go. Bitcoin has no such floor.

patriotz
2 years ago
Reply to  Burt

“wonder how much this has to do with presales being conducted outside of Canada?”

Pre-sales don’t go into REBGV’s stats unless they go through one of their realtors, which almost never happens. Developers sell pre-sales through their own employees.

Strata Hacker
Strata Hacker
2 years ago
Reply to  Burt

Don’t over think it. It’s very simple. People are buying what ever they can afford at the moment because renting is absolute unmitigated hell on earth. When they can afford sfh they will buy that too. Most people just need a safe place to live. Not everyone is paralyzed with fear lest the market drops a few percent in value after they buy like the demented bears here.

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Strata Hacker

it’s plain and simple but yet bears have so much difficulty to understand it.

bullwhip29
bullwhip29
2 years ago

The British Columbia government will announce changes today to the province’s public auto insurer amid predictions the agency will lose $1.3 billion by the end of the fiscal year
https://bc.ctvnews.ca/province-to-reveal-plans-for-dousing-financial-dumpster-fire-at-icbc-1.3791519

hello dolly
hello dolly
2 years ago
Reply to  bullwhip29

there are about 3,000 cars worth more than $150,000 insured in BC this year, a 30 per cent increase from three years ago. He says it’s unfair to expect drivers of average cars to subsidize the cost to fix luxury cars. “Right now, whether a person drives a $25,000 Honda Civic or whether that person drives a $200,000 Lamborghini, their insurance rates are similar, while the costs of repair are substantially different… When these more expensive vehicles get into a crash, it costs approximately six times more to fix them because these vehicles are rare. http://www.news1130.com/2016/11/23/icbc-will-stop-insuring-high-end-luxury-cars/ RCMP in B.C. have reached an agreement with ICBC to stop ticketing drivers from China who are temporarily using their drivers’ licences while in the province. Richmond RCMP confirmed earlier this month they have issued tickets to drivers who produced drivers’ licenses issued in… Read more »

patriotz
2 years ago
Reply to  hello dolly

The first article is from 2016, and the second is from even farther back, 2014. A note that both of these are from the Christy era would be helpful. given you are replying to a current news item.

hello dolly
hello dolly
2 years ago
Reply to  patriotz

Thanks for the critique professor. I hope that in the future my posts can be up to your standards. BTW: Any idea when prices are going to revert to the mean?

kabloona
kabloona
2 years ago
Reply to  hello dolly

They should lower that ICBC coverage limit from $150k down to $75k….any excess coverage should be purchased from a private insurer.

It’s “public auto insurance”, for pete’s sake…

😉

And Eby should send ICBC straight to no-fault just like other jurisdictions. Other than that, he’s done the right thing to get them back on track….

😀

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  bullwhip29

Prediction?

NDP has already waived the white flag re: status quo.
That leaves the only option to simply raise rates across the board.

As usual..good drivers will be punished.

bullwhip29
bullwhip29
2 years ago

we’ve been warned and it seems like he already figured out the math too

Lost,... but not leased
Lost,... but not leased
2 years ago

Just catching the Eby ICBC announcement on Global:

….as I predicted..”threats” of $400 increases in premiums.

–legal fees and expenses 24% of ICBC budget

—— Injury claims $2.7 billion…80% increase in 7 years

—–minor injury claims to be capped at $5,500

YVR
YVR
2 years ago

Another nail in the NDP coffin.

Oracle
Oracle
2 years ago

Bingo. This NDP is a sham. They’re leading their supporters to the slaughter and they don’t even know it.

Oracle
Oracle
2 years ago
Reply to  Oracle

Notice they didn’t mention the new grid coming in May?

patriotz
2 years ago

“NDP has already waived the white flag re: status quo.”

This doesn’t mean what you were probably trying to say. 🙂

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  patriotz

Agree…in error…IF the NDP does follow through with their fixes. Otherwise..is this a trial balloon for the Feb. 20 Budget

Don’t understand why they want to double the limit for medical care and expenses fro $150,000 – $300,000 retro to Jan.1??? while capping small injury claims at $5500

Is this a red flag to the lawyers ?

YVR
YVR
2 years ago
Reply to  bullwhip29

How come they don’t have to wait for the budget? I thought things could only be done once per year on budget day? This is very odd the NDP are actually doing something rather than whine.

YVR
YVR
2 years ago
Reply to  bullwhip29

Rather than cut costs, eliminate fraud or reorganize Eby just cuts insurance coverage. Average $30k claims cut down to $5.5k max. Wow. They are basically saying you cannot get proper insurance. This is communism. You will just have the fraudsters make major claims in order to get past the minor claim cap costing more money to ICBC. Honest people will get screwed.

Attorney General David Eby announced the changes Tuesday, which will mean drivers in minor accidents will have a limit on what they can receive in compensation for pain and suffering of $5,500…Under the current system, an average minor injury claim costs $30,038, of which $16,500 is paid for pain and suffering, $7,500 for wage loss and medical care and $6,038 for legal costs and expert reports.

southseacompany
southseacompany
2 years ago

“This Bond Market Could Get Uglier” Bloomberg

https://www.bloomberg.com/news/articles/2018-02-06/this-bond-market-could-get-uglier

“Buying the dips has led to quick profits, because central banks stuck with ultralow rates. This time may be different.”

“The Fed, the largest single holder of U.S. government debt, is allowing its debt holdings to slowly roll off. That means billions of dollars of demand is disappearing just as the Treasury plans bigger bond auctions, for the first time since 2009, to finance a growing deficit”

bullwhip29
bullwhip29
2 years ago

Credit Suisse “Terminates” XIV
https://www.zerohedge.com/news/2018-02-06/credit-suisse-terminates-xiv

>>> pretty disturbing and blatant bankster fraud imho in a rigged, heads-i-win-tails-you-lose sham of a market which begs the questions, how fragile is this whole everything bubble and whether or not all these windfall lottery gains in pretty much everything are nothing more than an optical illusion which could be switched off without notice?

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  bullwhip29

How is it fraud? This was a pretty exotic security. Not exactly something you’d hold in your RRSP.

Dave
2 years ago
Reply to  bullwhip29

I have traded XIV and VXX and VXXX. People trade these but also use these them as a hedge. They are legitimate financial instruments.

The problem yesterday is the ETFs detached from the underlying products, causing havoc in the underlying products which is needed to balance it out. With many of these products levered, it causes that much more trouble.

bullwhip29
bullwhip29
2 years ago
Reply to  Dave

XIV is trading at $5 this morning down $93

rampant theft and fraud by banks to cover asses here. if things were truly hunky dory, this would not happen. feels reminiscent of collapse of 2 bear stearns funds in 2007. my suspicion is that many of these etfs are effectively worth much less than advertised and retail investors have no idea.

Dave
2 years ago
Reply to  bullwhip29

That’s the beauty of free markets. Nobody is forcing you to buy anything.

If you think it’s worth less, then short that product. Money can be made both ways.

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  bullwhip29

Garth Turner (and his Turner Investment co)seems to be major fan of ETF’s

……..this could get very interesting.

Shut It Down Already
Shut It Down Already
2 years ago

You lack the understanding that leveraged/inverse ETFs aren’t simple buy-and-hold investments for retail investors. His advice never was to buy any old random ETF.

kabloona
kabloona
2 years ago
Reply to  bullwhip29

The whole idea behind ETFs (see John Bogle) is to avoid “picking stocks” by buying the index instead…

Now they roll out a bunch of crazy-ass ETFs that are so granular in nature they defeat the original purpose and rationale of index investing.

“Daily Small Cap Bear 3X ETF”, etc……

Buyer beware….

🙂

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  kabloona

Right on..
The crooks will always find some way to take what historically was a less risky strategy, bastardize it,( suckers retain ignorant sheeple bliss)…. and we repeat via quasi junk- bond territory.

I don’t have a problem with Garth Turner,…..lots of good advice……but the next few days could play out if his “ETF” advice and strategy ring hollow…

Dave
2 years ago

At some point, it’s going to get much uglier. Four years past the taper tantrum and we’ve pumped asset values that much higher. So things are worse at the same interest rate we had a problem at before. I think we still have a few years before the bond market forces a massive haircut on all assets. For now, the Trump tax cuts will create strong economic growth and the Fed will be forced to raise rates. The economy will be able to handle it for a while, which will make people think we’re out of the whole debt problem. But, at some point, it won’t be sustainable and those higher rates will cause a quick downturn in assets. I could be wrong of course. But if I am right, it will be one hell of a crash in Vancouver.… Read more »

southseacompany
southseacompany
2 years ago

“We just got the first real picture of the Toronto housing market — and it’s ugly”, Financial Post

http://business.financialpost.com/real-estate/january-home-sales-in-greater-toronto-area-down-22-per-cent-from-year-ago

“Sales in Canada’s biggest city fell 22 per cent to 4,019 units from a year earlier, according to data released Tuesday by the Toronto Real Estate Board. It was the weakest month of sales for January since 2009. The average price of a home sold in Toronto was $736,783, down 4.1 per cent from January 2017, though little changed from December.”

YVR
YVR
2 years ago

Ontario has a government that HAS taken action to cool housing. The NDP here in BC are still pumping it up.

southseacompany
southseacompany
2 years ago

“What faltering stocks and bonds could mean for house prices: Don Pittis”, CBC

http://www.cbc.ca/news/business/markets-houses-real-estate-1.4520046

“As bonds and stocks tumble due to fear of rising interest rates, there are signs Canada’s housing market is facing similar strains.”

bullwhip29
bullwhip29
2 years ago

Realtor alleges ‘blatantly unethical’ practice in New Coast Realty lawsuit
http://www.cbc.ca/news/canada/british-columbia/shadow-flipping-new-coast-realty-court-1.4520499

bullwhip29
bullwhip29
2 years ago
Reply to  bullwhip29

what is the over/under on how many weeks/months it will be before New Coast owner Ze Yu Wu loots the co’s trust account and flees the country?

Name
Name
2 years ago
Reply to  bullwhip29

idk why anybody would do business with these creeps. i see their ugly garish signs all over my neighbourhood and one of their clowns came to my door last year and i said oh you are the shadow flipper guys and he got all flustered no no not me… i not flip anything…

patriotz
2 years ago
Reply to  Name

” why anybody would do business with these creeps.”

Because they thought New Coast had special connections to rich Chinese buyers who would pay them top dollar.

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  patriotz

Many potential “sellers” are ” one- of” types.
They have owned the same home for decades…then some slimeball realtor convinces them to sell.

These sellers may have bought their home for say $25,000 in the 1960’s,,,,the realtor tells them he can get them a $ 1 MILLION DOLLARS….which they can….the owner lists out of shock and euphoria…and sells.

The problem exists because these sellers often lack to sophistication to do some homework and find actual market value…which may be say $1.5 MILLION DOLLARS .

The realtor has them tied up and sets up for a flip with a $500,000 profit

bullwhip29
bullwhip29
2 years ago

Vancouver home prices have some living in campers. And businesses have had it with them
https://globalnews.ca/news/4008295/vancouver-campers-home-prices/

xhistory
xhistory
2 years ago
Reply to  bullwhip29

These are your customers and employees

Doomcouver
Doomcouver
2 years ago
Reply to  xhistory

Exactly. How do you think your employees can afford to live in the city? How about instead of asking the city to tow them you demand the city enact some policies to pop the real estate bubble? We need an anti-flipping tax, a ban on foreign ownership, and they need to kill the capital gains tax exemption on ultra-luxury homes.

kabloona
kabloona
2 years ago

Wilkinson = douchebag 😀 “BC Liberal leader batted for big tobacco against BC” https://thinkpol.ca/2018/02/05/bc-liberal-leader-batted-big-tobacco-bc/ 😉 “The newly-elected BC Liberal leader once acted for multinational tobacco companies against British Columbia, as the province sought to recover billions of dollars spent out of the public health-care budget to treat people with smoking-related diseases such as emphysema and lung cancer. Andrew Wilkinson represented Philip Morris International Inc., as it and other big tobacco companies dragged the Attorney General of BC through the court system[1], fighting the Tobacco Damages and Health Care Costs Recovery Act[2], court records show[3]…. ….Ironically, Wilkinson worked as a medical doctor before becoming a lawyer and has also served as the Attorney General of BC. In a controversial legal maneuver, Wilkinson and other big tobacco lawyers brought a motion alleging that if the companies were found liable, they would be… Read more »

YVR
YVR
2 years ago
Reply to  kabloona

thinkpol = CNN

Fullfrontalabotomy
Fullfrontalabotomy
2 years ago
Reply to  kabloona
ostritch
ostritch
2 years ago

Why do you guys persist in writing with such overbearing confidence during actual market declines and as soon as they reverse you pretend like you never said it. The US markets have been up straight for 7 months without a net monthly decline. What did you think would happen? A 10-15% decline is baked in. And welcome relief. Same with real estate. Now you guys are claiming the same old 50% and even 80% decline for Vancouver’s real estate.

Knowitall
Knowitall
2 years ago

665 who gonna be 666

southseacompany
southseacompany
2 years ago

“Here’s Why The Market Is Down 1,000 Points”, Forbes https://www.forbes.com/sites/kenrapoza/2018/02/05/heres-what-the-market-is-really-worried-about/#51878488693c “When Federal Reserve Chairwoman Janet Yellen hinted that it was “hard to tell” if the housing market was overheated, or the stock market in general, investors sold. The Fed hates bubbles. Investors look for clues that the Fed is ready to start popping.” “But what investors worry about more is not whether housing and the stock market are overvalued; it’s what they perceive the Fed to be thinking about higher wages. That’s what matters now.” “If the Fed says the rate of wage increases is not indicative of inflation, then that would mean wage increases are a sign of prosperity and faster economic growth. All good. But if the Fed hints that higher payroll and full employment is a sign of higher-than-expected inflation, then the markets assume the Fed hikes… Read more »

southseacompany
southseacompany
2 years ago

“Dow Jones suffers worst day in over six years as global stock markets plunge”, The Guardian

https://www.theguardian.com/business/2018/feb/05/stock-markets-continue-to-fall-amid-interest-rate-hike-fears

“The drop came after another bad day on global markets as investors reacted to global equity losses overnight and concern that central banks will increase interest rates in response to inflationary pressures from surging global economies.”

YVR
YVR
2 years ago

Selina responds to the The Union of B.C. Municipalities has issued a report containing 32 recommendations for housing affordability.

Housing Minister Selina Robinson said in a statement that the province has already taken steps to address the housing crisis by improving supports for tenants and landlords, increasing housing for the most vulnerable, and cracking down on tax cheats.

http://www.princegeorgecitizen.com/b-c-s-cities-call-for-tax-and-rule-changes-to-make-housing-more-affordable-1.23161586

Best place on meth
Best place on meth
2 years ago

Real estate developers pay to keep Metro Vancouver transit projects on track

https://biv.com/article/2018/02/real-estate-developers-pay-keep-metro-vancouver-transit-projects-track

Best place on meth
Best place on meth
2 years ago

China’s Bid To Bring Cash Back Home Will Impact These 3 Places https://www.forbes.com/sites/ralphjennings/2018/02/05/chinas-grip-on-money-outflows-shake-up-malaysia-and-vancouver/#6621e9f965b1 “By January, more than 1,000 bank ATMs in Macau had installed face-recognition cameras to identify customers who might transfer large sums of money outside China. Money changes hands quickly in Macau thanks to the massive casino industry, but the decision was taken in part to Beijing’s drive to stop its citizens from parking money outside the country where they feel it’s safe from legal detection or capital market volatility. Outflows totaled just $408 billion last year, down 54% compared to 2016, according to data from the French investment bank Natixis. The Beijing government has aggressively tried to stop the flows since November 2016, and not only through the 90% of Macau ATMs that use face recognition. While China may be bringing cash back, the overseas destinations where… Read more »

Lost,... but not leased
Lost,... but not leased
2 years ago

Fake News..

Facial Recognition technology does not work in FLL( Foreign Locust Land)

Attempts by software and algorithms to differentiate between individuals even to the most minute detail has proven futile.(despite the best efforts of locusts pirating proprietary software).

In summary……they arr rook arike

Shut It Down Already
Shut It Down Already
2 years ago

What are your thoughts on Lost’s comments, Just Me?

Best place on meth
Best place on meth
2 years ago

What are your thoughts about the crybaby who whines about racism day and night while our country is being raped and pillaged, Just Me?

Shut It Down Already
Shut It Down Already
2 years ago

It’s never too late to go back to school, dumbass.

Best place on meth
Best place on meth
2 years ago

I’m sure you’re proud of your Confucius Institute “diploma”, traitor.

bestplaceonearth
bestplaceonearth
2 years ago

had you known this wonderful philosophy, you would have moved out of your mama basement long ago already. It’s just too cozy for you in there you get complacent.

Shut It Down Already
Shut It Down Already
2 years ago

No thoughts then? Shame. You feel compelled to reply to everything else I write, why not a direct question addressed to you?

Just me
Just me
2 years ago

This Forbes article nails it on the head.

“Here are the most likely places to feel the impact.

1. Vancouver, Canada

This city — with a big ethnic Chinese population — tops many lists of Chinese outflow destinations, says Mark Williams, chief Asia economist with Capital Economics in the United Kingdom. You could point at San Francisco or Sydney, too. “Most of the flows from China seem to end up in places with large Chinese communities and good links to China,” Williams says.’”

Just me
Just me
2 years ago
Reply to  Just me

n Vancouver, where Chinese money has raised housing prices, a tapering of inflows should make property more affordable to Canadians, one report suggests. Home sales are expected to fall from 102,350 units in 2017 to 91,750 this year in the wider province of British Columbia, and reach an average price of $745,300, the Vancouver Courier says.

Just me
Just me
2 years ago

“Chinese families with children accepted to universities in Australia, Europe or North America often send funds abroad along with their kids. Some of it buys property in college towns such as Palo Alto, California (where you’ll find Stanford University), along with tuition and daily expenses.

A pullback in Chinese capital would lower housing prices, perhaps a relief to faculty and university staffers also in the market. Today, says Williams, “properties are often left empty, so you could say that China is exporting its ‘ghost city’ phenomenon driven by people buying property as a place to store their wealth rather than as somewhere to live.”

Just me
Just me
2 years ago

As if the B.C. Liberals weren’t dragging enough baggage from their time in government, last week’s vote on the party leadership coincided with the final courtroom proceedings in a case that plagued them on the eve of the 2013 election.

http://vancouversun.com/opinion/op-ed/vaughn-palmer-wilkinson-has-chance-to-revitalize-liberal-party-headquarters

Just me
Just me
2 years ago
Reply to  Just me

“Mr. Bonney enthusiastically went to work on this plan, much of which was expressly designed to promote only Liberal party interests, while he was being paid from the public purse,” said Judge David St. Pierre in passing sentence. “He simply believed that the Liberal party with their ‘free-enterprise’ agenda was the only party that could effectively govern and that essentially, the ends justified the clandestine, partial and dishonest means he was engaged in.”

Just me
Just me
2 years ago
Reply to  Just me

From the day the New Democrats broke the Quick Wins scandal in early 2013, it was evident that the plan was hatched and directed out of the office of then-Premier Christy Clark. But the story fizzled as an election issue, in part because (as the New Democrats conceded in their own post-mortem on a losing campaign) they failed to prosecute the scandal during the four-week-long run-up to voting day.

The scandal gained a second wind after the election, when NDP Leader Adrian Dix delivered a file of evidence to police, leading to the appointment of an independent special prosecutor. But after an almost three-year investigation, Bonney was the only one in government ever charged with a criminal offence for the abuses associated with the multicultural outreach strategy.

Best place on meth
Best place on meth
2 years ago
Reply to  Just me

LibCreds are corrupt scum serving the Beijing kleptocrats since 2001.

YVR
YVR
2 years ago

“LibCreds are corrupt scum serving the Beijing kleptocrats since 2001.”

Nice to see Horgan taking the baton in 2017/18. That may be more relevant than what happened in 2001 but keep focused on the past. Horgan will love you for it as he implements his Sino agenda.

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

You’re making predictions that will take time to assess.

I’m looking at past performance of a disgusting bunch of corrupt, slimy traitors that should be lined up and shot.

Wilkinson is nothing more than the new leader of an organized crime family.

Just me
Just me
2 years ago

Wilkinson was complicit to every single decision Christy Clark ever took. He was in the inner sanctum of the party, safely in charge of its machinery.
Deep down he probably thinks that in due time they will be able to reintroduce campaign donations, party financing and a fully hand-off approach to money laundering. The three pillars of B.C. Libs policy!

Best place on meth
Best place on meth
2 years ago
Reply to  Just me

Exactly, the one thing voters need to be reminded of REPEATEDLY prior to the next election is that the Wilkinson will bring back corporate donations to political parties.

Then we lose our chance to bring back democracy.

YVR
YVR
2 years ago

I made the predictions in 2017 prior to the election. My predictions have already come true. Horgan has reneged on taking action on housing like he promised, made pro housing and pro Chinese statements and gone to China and begged for more Chinese investment. Right now as people get turned away from banks they are walking into BC credit unions getting the same mortgage as last year because Horgan has not implemented the same rules for the lenders he regulates. Condos are up 20% since he was elected. You can’t take this stuff back. It has already happened and the damage is done.

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

“Horgan has reneged on taking action on housing like he promised”

You’re a liar. He has not yet reneged on anything.

YVR
YVR
2 years ago

In 4 years when the NDP have not done any of their housing promises you will be saying the same thing. You are too partisan.

patriotz
2 years ago
Reply to  YVR

“I made the predictions in 2017 prior to the election. My predictions have already come true.” You mean this kind of prediction?

At this point it looks like another BC Liberal majority. The NDP just does not have a good platform. Add in the left vote is being split with the Green Party while the BC Liberals have no other party on the right to compete with. This may be the biggest landslide in decades.

http://vancouvercondo.info/2017/03/and-now-a-political-message-from-dave.html

YVR
YVR
2 years ago
Reply to  patriotz

No Patriditz I said what I was referring to. Can you not read? You must be ashamed to have pumped the NDP for so long and have them do the opposite of what you and they promised.
Sorry I forgot you are an NDPer. Never ashamed to lie.

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  YVR

Warning:

Don’t wave that baton around Mike Farnworth..(may get excited)

Best place on meth
Best place on meth
2 years ago

20% more mortgages are being denied by big banks, sending borrowers down the credit ladder
Stricter mortgage rules are sending borrowers towards more risky lenders that are out of the regulator’s purview

http://business.financialpost.com/real-estate/mortgages/new-mortgage-rules-sending-borrowers-down-the-credit-ladder-to-alt-lenders

Shut It Down Already
Shut It Down Already
2 years ago

The urge to buy is so strong amongst the greedy greedy locals they’re figuratively hurling themselves over the financial cliff whilst thinking themselves smart for dodging those pesky rules (probably put in place by some untrustworthy banksters or whatever). Blame foreigners, though.

Best place on meth
Best place on meth
2 years ago

Fuck off, Baghdad Bob.

See Saw
See Saw
2 years ago

YOU are such a piece of shit, BPOM. I hope you lose all those “investment properties” of yours. It would serve you right, shithead.

Best place on meth
Best place on meth
2 years ago
Reply to  See Saw

What investment properties?

Just me
Just me
2 years ago

See Saw lives ina world of his own invention. He thinks you are a RE promoter in disguise. He clearly has some problems understanding the basics.

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Just me

You seem to understand the world. But why you don’t have the basic of self-reliance? You cry on your own misery blaming others. Come on, it’s time to put to work all the skills your parents have taught you. Salivating is not enough.

Lost,... but not leased
Lost,... but not leased
2 years ago

Dammm

SIDA- Saw are on the loose

Someone stole the crow bar from the pawn shop…….AGAIN..

Shut It Down Already
Shut It Down Already
2 years ago
Reply to  See Saw

Investment properties? He’s not creditworthy.

Best place on meth
Best place on meth
2 years ago

You’re not worthy of being alive.

YVR
YVR
2 years ago

Clients who don’t meet the bar are turning to private lenders, mortgage investment corporations (MICs) and credit unions, which are provincially regulated and not required to implement the stress test

Gee who is our provincial regulator? Anyone know? And why are they ignoring this massive loop whole that was left that essentially makes the stress test irrelevant in BC.

Whister or Bust?
Whister or Bust?
2 years ago

NEW THREAD PLEASE

Best place on meth
Best place on meth
2 years ago

Does anyone have a copy of the police report with Pope’s official time of death?

Shut It Down Already
Shut It Down Already
2 years ago

Pope left a couple of years ago.

Best place on meth
Best place on meth
2 years ago

Roughly around the time you arrived.

Just me
Just me
2 years ago

He probably had enough of you. We try to ignore you but sometimes it is hard.

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

You obviously have the hardest time because you feel compelled to respond despite having nothing of value to say. Shouldn’t you be off defending racists somewhere?

Best place on meth
Best place on meth
2 years ago

Shouldn’t you be off defending communist kleptocrats raping and pillage our country somewhere, traitor?

paulb
paulb
2 years ago

New
365
Price Change
32
Sold
142
TI:7558

http://www.clivestevepaul.com

See Saw
See Saw
2 years ago
Reply to  paulb

Gee, where ARE all those Chinese buyers lately?

But, I guess many of the dullards on this site will tell us they’re using “proxy buyers” and “shell companies” to buy everything in sight…. After all, there’s no better place to “invest” than Vancouver!

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  See Saw

Aecon’s new foreign locusts owners secured a contract from Turdeau ( delivered by John McCallum).

They will build a tunnel from China to Vancouver….
…..final point not yet decided but likely near Glegol Lobertsons condo.

Spec
2 years ago

Out with the old, in with the…. old

https://thetyee.ca/Opinion/2018/02/05/Wilkinson-Lesser-Evil-BC-Liberals/

“Wild West political donations overwhelmingly seen as corrupt? Fine by Wilkinson. Running ICBC and BC Hydro into the ground and pushing Site C ahead without proper review? No problem. Ignoring warnings of money laundering and other crime in B.C. casinos? The profits of BC Lotteries and the private casino companies were more important.”

All on BCLib watch, but welcome them back into power.. By all means. Sheeesh.

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

“Everyone will tell you how smart Wilkinson is, and about his undergrad degree from Oxford as a Rhodes scholar, and medical and law degrees. ”

Hahahahaha!!!

No shit, just look at the LibCred knuckle draggers we have to put up with on this blog.

YVR
YVR
2 years ago

You’re right. Horgan does not get enough credit for his great job at the Keg. Nobody talks about that. Should the food servers go on strike at the legislature Horgan could step in and nobody would notice. That is valuable experience to have as premier.

Just me
Just me
2 years ago
Reply to  YVR

Do you even realize how obnoxious your stupid comments about people who wait tables are? Get a life.

Best place on meth
Best place on meth
2 years ago
Reply to  Just me

I wonder why rabid Lib supporters have so much contempt for people who do honest work to try and improve their lives?

These fuckers disgust me.

YVR
YVR
2 years ago
Reply to  Spec

Running ICBC and BC Hydro into the ground and pushing Site C ahead without proper review? No problem. Ignoring warnings of money laundering and other crime in B.C. casinos?

The hilarious part is Horgan and the gang are doing the EXACT SAME THING.