How do you talk about foreign buyers without being racist?

A growing issue in Vancouver real estate is that of foreign buyers. Statistics Canada claims that non-resident foreigners own 7.6% of the value of homes within the city of Vancouver.

Now clearly it is possible to talk about this issue without devolving into racist generalizations and hate, but some commenters on this site have a very difficult time doing so.

There are a number of parties that have no interest in changes to the current market and these parties are served best by angry racist rantings.  What better way to distract from the issue at hand and paint any discussion of foreign buyers as racist?

So good job you knuckle-heads, those that profit in a run-away housing bubble thank you!

 

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history
Guest
history

This is a relatively easy question. You need to change your frame of thinking, from appearances, to the deeper aspects.

Seperate a person into the Type of economy they prefer. Race doesnt care about that, but certain types of economies thrive by exploiting race, such as FASCISM

Hyper-mega-Bull
Member
Hyper-mega-Bull

you can get rid of every foreign buyer and we’d still have the same problem through permanent residents, foreign students and newly minted citizens.

so it’s hilarious that people STILL can’t talk about foreign buyers. if you can’t do that what hope do you have to stopping the PR, foreign students and rest of it? you have no hope. learn mandarin and secure your family’s future.

Bag it and tag it
Member
Bag it and tag it

Doesn’t matter if you know mandarin or not since most Chinese only want to deal with other Chinese…but lucky for them, only whites can be racist.

Hyper-mega-Bull
Member
Hyper-mega-Bull

yes, but there aren’t enough chinese to do all the work HAM wants done. so for the time being you’ll be ok.

Road Warrior
Guest
Road Warrior

Best comment ever !!!

Bear Vancouverite
Member
Active Member
Bear Vancouverite
This statement is completely wrong. By definition removing foreign buyers means to remove foreign students, at least that’s the expectation from those who demand a ban. PR’s who actually live here and pay honest T4 taxes are welcome to buy as well. If we got rid of foreign buyers that immediately removes 5% of BC’s buyers, and removes 20-25% of presale condo luxury buyers. Some of them will try to shift purchases to PR, but as always a certain number won’t and that will impact the market. On top of this, the psychological impact will be immediate and dramatic. Suddenly, many local speculators will feel doubt, if not fear. If you combine a foreign buyer ban with a 2% speculator tax the effect will be amplified even further. Not all effects have to be direct, and the psychological impact will… Read more »
Bear Vancouverite
Member
Active Member
Bear Vancouverite

Remember, most people from the RE industry publicly say that the importance of the foreign buyer. If its unimportant they won’t mind us removing the foreign buyer from the equation through an outright ban.

Or, if we want to make some money, make the FBT apply to the entire Metro Vancouver and Victoria, and increase the FBT to at least 30% on purchase and 15% on sale. Change taxation to require lawyers to withhold the 45% FBT until proof is provided that the buyer and seller are locals through T4 reported income (it’s as simple as providing lawyers with 2-3 years of Notice of Assessment).

Just me
Guest
Just me

Funny how the RE cartel says that foreign buyers do not matter, but also claims we should not tax them because there are other reasons we want them. I agree with your argument, but they will fight it tooth and nail. The RE cartel does know full well what is going on: money flows from China.

Just me
Guest
Just me

These psychology-based arguments are weak. What happens is that, after 6 months, we are back to square one when foreign “investors” realize how to get around the rules.
We need to have a system that, de facto, makes it costly to carry these investments unless you are a local tax filer. It must be income based and made dependent on whether or not you pay enough taxes in Canada. The UBC people got it right, we just need the NDP to implement that tax.

jack up the carrying costs of RE for people from abroad, that is the only solution.

Bear Vancouverite
Member
Active Member
Bear Vancouverite

The 2% speculator’s tax will increase carrying costs for all speculators, even ones who are local tax filers. Go ahead and read the details of the bill and you’ll see. One that only affects foreigners will not be nearly as powerful. Stop your tunnel vision focus on only foreign speculators and start demanding taxation and deterrence of all speculation, foreign and domestic.

Here it is for your reference:

https://www.leg.bc.ca/parliamentary-business/legislation-debates-proceedings/40th-parliament/5th-session/bills/first-reading/m209-1

The only part I don’t like about the bill as written is the 5 year exemption, it should instead only exempt anyone with 10+ years of T4 tax filings near the average required to be exempted from the yearly tax.

Just me
Guest
Just me

Perhaps you should read what I write more carefully. I just told you: I think the UBC people got it right. the 2% surtax is the most promising option and we should try to adopt it.

Burnabonian
Guest
Burnabonian

It’s not about the person doing the buying; it’s about the macros that caused them to want to.

Talk about the macros because those are the real issue anyway.

Don’t personalize it because there is nothing personal about it.

Joe Money
Guest

True.

history
Guest
history

Im sorry, either you are in The Family, or you are not. In our New Age, that family has morphed from Goodfellas to a different breed of Family. It’s a little like the Japanese version of Imperialism. Very efficient, coming out of practically no where… maybe it took 40 years from inception untill now. Carillion is a good example of how it can exist. Anyone in the FIRE industry that has operated, even a little without moral integrity, will suffer a similar fate.

https://wolfstreet.com/2018/01/15/collapse-of-carillion-sparks-fear-and-mayhem/

Just me
Guest
Just me

New Zealand minister defends foreign ownership ban as B.C. Greens call for similar policy
Andrew Weaver said earlier this week B.C. should restrict foreign ownership on real estate

http://www.cbc.ca/news/canada/british-columbia/new-zealand-minister-defends-foreign-ownership-ban-b-c-1.4485122

David Parker, New Zealand’s Minister of Trade and Export Growth, introduced the bill in December.

“The underlying point for us is that we think the New Zealand market for homes should be for people who live in them,” he told CBC Early Edition host Stephen Quinn.

Just me
Guest
Just me

Accusations of racism.

Parker is adamant the foreign ownership ban is fair and dismissed accusations of racism.

“I used to oppose America, Canadian or French purchases of land and was never accused of racism but when other ethnicities were involved and I raised the same issue, I was accused of xenophobia,” Parker said.

Just me
Guest
Just me

Andrew Weaver, the leader of the B.C. Green Party, said he plans to push the issue forward.

“This is not about what passport you own, it’s about where you live,” Weaver told CBC in an earlier interview. “We don’t have to rediscover the wheel because they are already doing it in New Zealand.”

history
Guest
history

Haha, rediscover the driving wheel, Oh yes we are…

The snivellers and fascist secret businesses have their best harvest material humanoids moving into their vehicles, while the pathetic welfare crybabies pile into houses. Goo better be worried. This is a Real protest they got on their hands. Sitting behind their cameras and security software, collecting indecent wages, answering to their Fascist organizations… disgraceful

Whistler or Bust?
Guest
Whistler or Bust?

Yes we do, the NDP is charge.

See ride sharing….

patriotz
Member

“New Zealand minister defends foreign ownership ban as B.C. Greens call for similar policy”

As I pointed out previously, Weaver doesn’t appear to know the details of NZ’s policy in the first place, since he is calling for an “outright ban” and at the same time calling for a similar policy to NZ, where the restrictions apply to existing dwellings only. And nobody in the local media seems to have picked up on this.

Dave
Member

That would require both effort and thinking, two things the media doesn’t do.

They are good for sound bytes though.

history
Guest
history

Here’s a headline. 1969 New Zealand impliments Metric System, Canada follows in 1970. But over the years a hybrid measurement system takes root. We embrace both metric and imperial in our subconscious.

Best place on meth
Member
Best place on meth

I still have a hard time figuring out how many feet are in a litre.

YVR
Guest
YVR

Patriotz has been posting this ban is only for existing homes and new homes are still allowed to be bought which makes it ineffective. Not true. Non residents can only act as a developer. They cannot own the home once it is built.

Under the new rules, non-residents can buy undeveloped land for the purpose of building property, but it then has to be sold to a resident.

patriotz
Member

“Under the new rules, non-residents can buy undeveloped land for the purpose of building property, but it then has to be sold to a resident.”

I have not been able to find any source for this claim other than the CBC article. It is at odds with what is being reported in the NZ media:

Overseas buyers would be able to buy new apartments off the plans, but would not be permitted to live in them. The ministers could not immediately answer how long a foreign buyer would be able to “sit on” property before selling although in other legislation, the government will shortly move to impose capital gains tax on property sold within five years of purchase.

http://www.tenancy.co.nz/law-ban-foreign-home-buyers-introduced/

YVR
Guest
YVR

That article says they can buy presales but must sell after completion. A presale is property under development. Same thing as above. It must be sold upon completion and they are not permitted to live in them. Furthermore capital gains tax will apply to all properties sold within 5 years. Does not seem at odds with the CBC article and would be a solid step to cool housing and stop a lot of speculation. Weaver is correct this would be good policy in BC.

Bag it and tag it
Member
Bag it and tag it

Allowing foreigners to buy new properties but not live in them….hmmmm….yeah that should solve the problem,
because we all know how anxious they are to live in their purchases.

patriotz
Member

I agree that I am finding it difficult to understand just what NZ’s policy is. But a Canadian shouldn’t have to try to understand a foreign country’s policy to understand what a Canadian politician is advocating. Weaver owes it to British Columbians to spell out his proposal in detail and without reference to what any foreign country is doing. He should introduce a private member’s bill at first opportunity doing just this.

Also note that the GP’s election platform proposed a 30% province wide foreign buyer’s tax, not a foreign ownership ban. Weaver also owes it to British Columbians to explain why he has changed his mind.

Bag it and tag it
Member
Bag it and tag it

I’m not a big fan of this NZ style restriction. It’s the classic type measure that makes the gov appear to be tackling the problem when it doesn’t really do anything to stop it. I’d rather they make the FBT province wide and jack it up to 30%…then ban purchase of residential real estate by corporations…with possible exemption being purpose built rental buildings.

Best place on meth
Member
Best place on meth

Making the FBT province wide would be great, but banning all mainland chinese from Canada would be the most effective tool of all.

It’s a national security issue.

stagnate
Guest
stagnate

it’s your decision on a calculated risk; you could ban racists like a credible blog, your blog might grow more mainstream or it might peter out.

history
Guest
history

It’s your decision on a calculated risk; you can ban Egalitarians or their adversaries, the Fascists.

patriotz
Member

You talk about foreign buyers without being racist by not talking about race, or factors tied to race such as ethnicity or national origin. It’s an economic issue and should be discussed in those terms.

And you don’t try to conflate it with separate issues, such as how many immigrants we should take or where they should come from.

Hyper-mega-Bull
Member
Hyper-mega-Bull

New Zealand National MP trained by Chinese spies

A National Party MP who studied at an elite Chinese spy school before moving to New Zealand has attracted the interest of our Security Intelligence Service.

https://www.newsroom.co.nz/@summer-newsroom/2017/12/27/46657/newsroom-investigation-national-mp-trained-by-chinese-spies

Hyper-mega-Bull
Member
Hyper-mega-Bull

Can the Chinese government now get access to your Grindr profile?

“What you can see from Chinese intelligence practices is a clear effort to collect a lot of personal information on a lot of different people, and to build a database of names that’s potentially useful either for influence or for intelligence. Then later, when the party-state comes into contact with someone in the database, there’s now information to be pulled,”

https://www.washingtonpost.com/news/josh-rogin/wp/2018/01/12/can-the-chinese-government-now-get-access-to-your-grindr-profile/?utm_term=.374850f043a2

southseacompany
Member
southseacompany

“With another interest-rate hike expected, household debt looms large”, Toronto Star

https://www.thestar.com/business/economy/2018/01/15/with-another-interest-rate-hike-expected-household-debt-looms-large.html

“Canadian households are easily the most indebted in the Group of Seven, which means rate increases pack a big punch”

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

Just had coffee with SIDA and BoomBoobs

They realized the error of their ways and have posted a bond.

history
Guest
history

The bond’s collateral stolen from the Commonwealth. So they have the last laugh.

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

The question remains….
…..was Canadian Tire money a precursor to cryptocurrency?

Diadora
Guest
Diadora

BC Green leader calls for seizing homes of foreign buyers involved in immigration fraud, tax evasion, money laundering
https://thinkpol.ca/2018/01/15/bc-green-leader-calls-seizing-homes-foreign-buyers-involved-immigration-fraud-tax-evasion-money-laundering/

Bear Vancouverite
Member
Active Member
Bear Vancouverite

There’s a more legal method than seizing the homes. Put a hold on the homes so they can’t be sold, then have CRA assess back taxes + penalties, and apply those as a lien on the property. If the taxes are not paid within 90 days the properties are liquidated and the taxes collected from liquidation, the remainder held by CRA for future tax assessments until it can be ascertained the fraudsters in question are finally reporting the proper taxes moving forwards.

I attended a tax sale last year in one of the Metro cities, and before the sale even began we were informed all taxes were paid up, including many that paid that very morning. If you threaten to sell a property to pay the owner’s taxes the owners will pay.

DaMann
Member
DaMann

Weaver’s idea is better because it deals with immigration fraud and money laundering not just the missing tax issue. It’s becoming quite evident that immigration fraud is rampant and so is money laundering. There needs to be a deterrent. So far there really isn’t any. If they can confiscate your property for drug trafficking why not money laundering and immigration fraud? It’s about time we put our purses down and got tough with these idiots. The foreign money isn’t here because it’s the greatest place on earth, it’s here because we are idiots and don’t enforce any laws. They know this and exploit it.

Just me
Guest
Just me

I would also argue that a pure tax disincentive is no disincentive at all: there is no loss of engaging in money laundering and fraud. At most, you will have to pay taxes on the returns on those activities. Why would you not do that? the choice is between winning tax-free and winning after taxes. You still win by breaking the law.

Only policies that make it painful to engage in these activities will reduce the problem. vancouver is the wild west of money laundering from mainland China right now.

bullwhip29
Guest
bullwhip29

passengers accompanied by notable person with connections and security clearance simply walk off of private jets that land on designated YVR runaways every hour on the hour no questions asked. how else do seemingly little mickey mouse basement operations like Silver Intl manage to move hundreds of millions within a 1 yr period? the amount of cash that they can bring is limited to how much they can carry and/or max available suitcase size from Louis Vuitton. if some taxes and fees wind up being applied, then so be it. on next trip, just bring a little extra. folks, we are all worried about the moms and pops hiding a few thousand down their pants or swarms of smurfs running around when we should be looking elsewhere…

Bear Vancouverite
Member
Active Member
Bear Vancouverite
My impression is that seizure rules are a high bar to clear, while the CRA can very easily place liens. Our courts are also backlogged with tons of cases, to the point of criminals filing to dismiss charges for enduring long court times. I kid you not when I say that the tax sales in cities are brutally effective. We need to implement policies that can be enforced and will work. The assessment of back taxes will work immediately and can be applied immediately – if you’ve ever had to deal with CRA you know that they get what they want first and it’s up to you to convince them otherwise. Seizures are going to be mired in courts for decades while we struggle to prove allegations of fraud and money laundering, but it’s good for political points because we… Read more »
Bear Vancouverite
Member
Active Member
Bear Vancouverite

You’re talking Treason. Canada is for Canadians, we do not want to be sold to the highest foreign bidder or given freely to another country.

Once again, you sound like you have more in common with a locust than a true Canadian.

Bear Vancouverite
Member
Active Member
Bear Vancouverite

(that was in response to Lost suggesting the US should govern Canada)

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

R U picking on SIDA and BoomBoobs again?

….currently they are AWOL

Boombust
Guest
Boombust

Nope. Still here and reading all the usual BS from idiots like you.

Abdul Lahazi
Guest
Abdul Lahazi

You are another ray of sunshine.

DaMann
Member
DaMann

Fare points but why not do both? CRA can go after them right away and the Police/Immigration can also launch proceedings to size their assets.

DaMann
Member
DaMann

Fair

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

This is why we should simply relinquish=erase the US- Canada border, which was a fraud from the start.

With Trump as the leader of the new amalgamated union, we can finally purge the majority of the North America of certifiably hostile riff – raff.

Boombust
Guest
Boombust

Why don’t you fuck off and move there? What an asshole.

Abdul Lahazi
Guest
Abdul Lahazi

Hello sunshine.

Best place on meth
Member
Best place on meth

No, we don’t need to become part of the US, we just need them to liberate us from Turd and the chicoms, the way they liberated France and the rest of Europe.

Burnaby Bear
Guest
Burnaby Bear
It’s an interesting thought, but it crosses federal, provincial, and municipal jurisdictions, so it is virtually impossible to implement without a lot of legislative changes. Who would put a “hold” on the home? I assume you mean a lien or some sort of Lis Pendens on title. The Province controls the Land Title registry and the City deals with property taxes. Have CRA assess back taxes etc. It would take probably 6 months minimum for CRA to conduct an audit. And they have to follow legislation and policy which includes asking the taxpayer to accept the audit before it is ever sent to Collections. And the taxpayer has the right to appeal the assessment. Liquidate in 90 days. There is no law in place at any level that allows a property to be sold that fast. When a bank forecloses… Read more »
Raincity
Member
Raincity

VOTE GREEN AND KICK THESE LOCUST CROOKS OUT!

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

You mean RED GREEN ???

If not mistaken…….there is an episode on how to convert HAM into a Left Wing badger trap.

Best place on meth
Member
Best place on meth

And if you fail that, you can always convert HAM into fuel.

patriotz
Member

“BC Green leader calls for seizing homes of foreign buyers involved in immigration fraud, tax evasion, money laundering”

Anyone can spout one-liners like this. He needs to explain under what legal authority and process, and whether he thinks any changes in law are needed. Also the article claims “Weaver has long been a proponent of banning on foreign buyers in Metro Vancouver’s real estate market.” In fact the GP platform for the 2017 election does not advocate a foreign buyers ban.

GP platform 2017

Bear Vancouverite
Member
Active Member
Bear Vancouverite
Dear fellow angry posters. I present to you: “The Protectionists’ and Populists’ Guide to the Housing Crisis” 11 measures that will leave the speculator and fraudster more angry than locals. 1) Increase Foreign Buyer’s tax to 30%, apply throughout Metro Vancouver and Victoria 2) Add new Foreign Seller’s tax of 15%, with a grace period of 12 months (any Foreign Owner of property that closes a sale to a local tax payer within 12months of February 2018 is exempt from the tax) 3) Ban corporate ownership of all residential real estate except if owned by developers. Properties currently held by corporations must instead assign the property to actual people by mid 2018. A reduced rate Foreign Buyer tax applies immediately if the owners are foreign. Any properties still owned by corporations will be sold at tax auctions by end of… Read more »
Lost....but not leased
Guest
Lost....but not leased

Comrade,,,,,Well done!!(or medium rare??)

Don’t forget the penalty of banishment to Surrey’s various Gulags..ie Newton, Whalley..Guildford…

All Hail Li Kai Shing !!!

YVR
Guest
YVR

Lets face it, most racism in the media is fake news today. The lefty politicians love to call everyone racists, the media loves to report it even when it is not racism or did not happen, people make up fake stories or just call racism when things don’t go their way. It is easier to win a debate when you can just yell racism. The latest made up story which was a nationwide media story last week;

An 11-year-old girl’s report last week that a man tried to cut off her hijab as she walked to school didn’t occur, Toronto police said Monday. Her story captured national attention, and drew public condemnation from Prime Minister Justin Trudeau, Ontario Premier Kathleen Wynne and Toronto Mayor John Tory.

http://www.cbc.ca/news/canada/toronto/scarborough-hijab-attack-1.4487716

Abdul Lahazi
Guest
Abdul Lahazi

Will she be charged with mischief for filing a false police report? Probably not because that would be racist.

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

Canada is a shithole….

The toilet flushing should commence in head -up -ass Ontario and Quebec..
………purge CONfederations’ losers , vampires and other leeches.

Best place on meth
Member
Best place on meth

Justin’s family tree is planted in a shithole.

Pierre is buried in one.

Best place on meth
Member
Best place on meth

Not only that but you’re committing “hate speech” by even suggesting such a thing.

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

Agreed..moi’s bad..
……acknowledged non -deferral/lapsed recognition of some obscure useless irrelevant language.

Canada =” La” SHITHOLE

Abdul Lahazi
Guest
Abdul Lahazi

Maybe she should be flogged or stoned. Sharia Law and all ….

patriotz
Member

Under Canada’s Youth Criminal Justice Act, a child under 12 cannot be charged with a crime.

And it’s not “fake news”. The media didn’t make up anything, the kid did.

Strata Hacker
Guest
Strata Hacker

Bullshit as usual from patriots. The media has a duty to vet the veracity of any story they shovel down our throats. You are just a Liberal apologist.

patriotz
Member

” The media has a duty to vet the veracity of any story they shovel down our throats”

So you think the media should keep quiet about any reported assault on a child until the police have positively identified a suspect? I take it you’re not a parent.

Strata Hacker
Guest
Strata Hacker

I take it you are stupid and don’t know how anything works.

Strata Hacker
Guest
Strata Hacker

I have 2 kids and a third on the way.

Best place on meth
Member
Best place on meth

Damn, the media whores were deliriously happy to have a “hate crime” to pump up, then this happens.

YVR
Guest
YVR

Even more happy was Trudeau and Wynn holding a press conferences.

Best place on meth
Member
Best place on meth

Kind of strange that gender parity Turd doesn’t have anything to say about immigrants who force women to cover their faces.

Oh well, it’s only 2017.

Open the borders.

Shut It Down Already
Guest
Shut It Down Already

YVR would like people to believe that accusations of racism levelled against those who constantly use racial slurs are just “fake news” or attempts to shut down a debate. It’s a rather pathetic and obvious strategy from a weasel who enjoys leaping to the defence of those who wouldn’t dare voice their toxic opinions in public. Sad!

KickThemOut
Member
KickThemOut

What is Pope smoking??! I thought it was explained multiple times on this blog, that as clear as day & night, that calling Chinese from China locust and other terms isn’t racists or offensive? Nor is generalizing their behaviors since Chinese isn’t a race? And that telling the truth isn’t being offensive or causing hate, even if it involved nuclear genocide?

Best place on meth
Member
Best place on meth

Poop is engaging in his annual sermonizing.

Just let him be, he needs to get it out.

DEATH TO CHINA!

KickThemOut
Member
KickThemOut

Also, is it me or are we getting more bear defectors every month? Seems like bears who capitulated don’t want to face the truth that they just screwed their life and forever be priced in? But they do seem happier since they aren’t posting anymore? Maybe too busy working that 2nd or 3rd job paying the mortgage, or too weak & hungry to post, or just can’t afford Internet anymore?

Doomcouver
Guest
Doomcouver

Not sure why anyone would be switching over to the bear side at this point. The housing market has only been moving in one direction, up. If someone wasn’t convinced we were in a bubble before, why on earth would they think that now? Doesn’t make sense… Maybe they got bored in the bull echo chamber with the other 25 million Canadians that own their home.

BubbleTea
Guest
BubbleTea

Douglas Todd: Explosive B.C. court case details seven migration scams
1. Not declaring full worldwide income to Canadian tax officials
2. Pretending to spend time in Canada to meet residency requirements
3. Hiding real real-estate ownership
4. Lack of regulation of real-estate agents
5. Illicitly laundering money out of China
6. Misusing provincial migration programs
7. Exploiting Canadian courts, with costly trials
http://vancouversun.com/opinion/columnists/douglas-todd-explosive-b-c-court-case-details-seven-migration-scams

BubbleTea
Guest
BubbleTea

“The immigration specialists say it’s commonplace for wealthy foreign real-estate investors to falsely claim to tax authorities they earn much less than they do. It’s typically done in an attempt, they say, to avoid income taxes in Canada, and to make one’s family eligible for welfare and other taxpayer-financed subsidies.”

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

This is good…
……………..we allow the useless SJW..and other Libtards to spew their kneejerk rhetoric….under the Wankerville agenda………….(aka we are the ultimate arbitrators of the public psyche/conscience..).

……the rest of us have 9-11 on speed-dial as we ROTFLMAO.

Best place on meth
Member
Best place on meth

Another racist article by Douglas Todd.

Why hasn’t he been arrested for hate speech yet?

Abdul Lahazi
Guest
Abdul Lahazi

GT will DELETE any post with a link to any Douglas Todd article. He has specifically said he will not allow any post with any link to any Douglass Todd article. It shows GT does not want to hear the truth about our foreign invaders and he will continue to deny HAM even as the evidence continues to mount.

Abdul Lahazi
Guest
Abdul Lahazi

“The bitterest irony in all this is that those who would so brazenly thwart our laws with such perceived impunity, for personal gain, would turn to our taxpayer-funded legal system for recourse. Chutzpah doesn’t begin to describe the parties’ conduct,” said Hyman.

>>> it’s called “giving the middle finger” to Canadians while profiting at our expense. Canada is the stupidest country on the face of the earth. We are too busy apologizing and trying to be nice to everyone and then we get walked all over by people who don’t give a shit about us.

Abdul Lahazi
Guest
Abdul Lahazi

Where is Combat Roach gone?

Best place on meth
Member
Best place on meth

Laibach.

Ask for him by name.

Laibach
Member
Laibach

Happy Holidays and thanks for asking. I am around “alive and kicking”, while bracing for some progress to be eventually made in eliminating, or at least reducing locust’s devastating impact on the local life and living. Like a rainbow after the rain, there’s always a good thing after the pain…

Abdul Lahazi
Guest
Abdul Lahazi

Great! Glad to know you’re still around.

southseacompany
Member
southseacompany

“Staggering share of Canadians fear bankruptcy if interest rates rise much more”, Global News

https://globalnews.ca/news/3962467/credit-card-debt-savings-canadians/

“Over 30 per cent of Canadians say they’re concerned that rising interest rates could push them close to bankruptcy, according to a nationwide survey conducted by Ipsos on behalf of MNP”

southseacompany
Member
southseacompany

“One third of Canadians can’t pay monthly bills as interest rates set to rise, survey suggests”, Globe & Mail

https://www.theglobeandmail.com/report-on-business/one-third-of-canadians-cant-pay-monthly-bills-as-interest-rates-set-to-rise-survey-suggests/article37608390/

“Four-in-10 respondents say they fear financial trouble if interest rates rise much further and one-in-three agree they’re concerned rising rates could move them toward bankruptcy”

squeak
Member
squeak
Oh dear. Then we need to start a national program teaching some folks how to figure out their personal finances, perhaps some basic math skill improvement. They should take this as a learning opportunity and be wiser the next time around. No bailing out. Just learn how to mind your dollars and cents, pronto. I dont expect the tax payers to bail me out if my stocks go down, why should they? Likewise, if people cannot afford their mortgages b/c they are too tight with their margins, well, then take a math course and accept you cannot afford it and deal with it. It is not up to the tax payer to bail them out. Meanwhile , it sure would be nice if the governments in the Canada dealt with all the corruption r/t laundering/housing as this place is falling… Read more »
paulb
Member

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257
Price Change
20
Sold
88
TI:7012

Readers, if you ever want info on sales or listing activity in your hood or area of interest shoot me an email. I send many users weekly updates each Friday to help keep them in the loop. No question to big or small. pboenisch@sothebysrealty.ca http://www.clivestevepaul.com

Specuskeptic
Member

7K Party!!! Wooot! …. Just a few more listings to go… about 10K more… soon. Hoping to get there.

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

IMHO…..

…if the consensus is that the electorate wants to maintain the status- quo,……………far be it that we should question destiny during happy hour at the abyss.

aka why should any and all VCI posters give a shite….seriously…

UBC in crisis mode
Guest
sign the petition by Raymond Wong: https://www.change.org/p/carole-james-proposed-housing-measures-to-the-provincial-government-of-b-c?recruiter=299062209&utm_source=share_petition&utm_medium=twitter&utm_campaign=share_twitter_responsive We demand that the Finance Minister and the BCNDP government to include these housing measures: 2% Speculation Tax (BCHAF – BC Housing Affordability Fund); Set up a Special Task force in Real Estate for 1) Money Laundering, 2) Speculation, 3) Tax Evasion/Avoidance, 4) Fraud and 5) Unethical practices by realtors; Work with Canada Revenue Agency (CRA) to tackle tax evasion/money laundering and ensure individuals declare their worldwide income; Cancel First Time Buyer’s Program; Ban Developers and Realtors from marketing homes overseas; Close Blind Trust Loophole; Impose Foreign Buyer’s Tax on all pre-sales; Restriction on Airbnb and expand empty homes tax throughout Metro Vancouver; Require potential buyers to register with the government and declare all sources of income; End ALR farmland speculation and eliminate mega mansions; Transparency of all sales of homes; ENFORCEMENT (fines,… Read more »
YVR
Guest
YVR

Pretty sad we have to sign a petition asking the government to implement what they already promised.

Bear Vancouverite
Member
Active Member
Bear Vancouverite

You should sign the petition, in fact, common decency compels you to do so.

1) It’s a petition demanding changes to things I’ve seen you complain about for years.
2) You’re confident they won’t do a thing anyway so it can’t hurt and you can continue to complain
about the NDP when they ignore your petition.
3) I assume you care more about deterring speculation and the harm it does to hard working Vancouverites than you do about being proven right about the hated NDP.
4) Governments need to hear from those who are most skeptical or the most supportive, so they know that people will hold them accountable.
5) You love telling us how you hate the NDP and how they don’t do a thing, now sign something to tell the rest of the world and to tell the NDP.

YVR
Guest
YVR

Actually it is my petition. I just created it to get your name and email address.

history
Guest
history
Best place on meth
Member
Best place on meth

You scream at the NDP randomly and pointlessly 20 times a day on a blog, but signing a petition to get them to act gives you pause?

Sign the fucking thing!

Raincity
Member
Raincity

Signed!

UBC in crisis mode
Guest

100 more people signed the petition overnight.

REASON FOR SIGNING by One poster:
Myself and at least 7 others I know have been ‘sale-ovicted’ in 2017. We are all hard-working, tax-paying and community involved folks. We are all now paying too much just to survive while there are empty houses, condos everywhere. Or people think that their increase in value on their property is hard-earned—it’s not. I get that I should have bought years ago but I have precarious contact work. I saved diligently but not enough. Don’t get me started on the homeless, the money laundering and the greedy real estate cartel.

Strata Hacker
Guest
Strata Hacker

How can this be? Garth said renting is awesome.

Abdul Lahazi
Guest
Abdul Lahazi

Or: renting and investing with Garth is awesome. LOL.

Best place on meth
Member
Best place on meth

U.S. Warned Jared Kushner About Wendi Deng Murdoch
Officials said the businesswoman could be trying to further Beijing’s interests, people familiar with the matter say

https://www.wsj.com/articles/u-s-warned-jared-kushner-about-wendi-deng-murdoch-1516052072

“U.S. counterintelligence officials in early 2017 warned Jared Kushner, President Donald Trump’s son-in-law and senior adviser, that Wendi Deng Murdoch, a prominent Chinese-American businesswoman, could be using her close friendship with Mr. Kushner and his wife, Ivanka Trump, to further the interests of the Chinese government, according to people familiar with the matter.”

So many national security risks with these vermin running about, there needs to be a solution.

patriotz
Member

Trivia: Wendi’s real given name is “Weng Gi”, which means “Cultural Revolution”.

ostritch
Member
ostritch

So a reader named Vince posted this on Garth’s blog. Could he be right?

I spoke with a CIBC mortgage advisor. Showed me a page on how to maximize my buying power by synthetically creating a 25 year mortgage to beat the stress test. Step one: qualify at 35 year amortization, step 2: set up an automatic payment plan to enhance principal payments to make the 35 year amortization equal the 25 year. Step 3: accelerate cash availability with an additional HELOC product that gives immediate access to any principal paid on the home. You can’t make this stuff up. The stress test is bogus.

Just me
Guest
Just me

At this point it is hard to rule out cheating. This is madness.
This is exactly why governments need to step in and make RE an unattractive investment. Anything short of that will perpetuate and amplify the problem.

history
Guest
history

Authorities are making it easier to park overnight in your vehicle.

YVR
Guest
YVR

35 year amortizations are already used to get people to qualify. This is nothing new. Anything over 25 years comes at a higher rate. Plus banks may not even do this for qualification purposes anymore because OFSI said they will be monitoring this.

Today, no less than 63 per cent of new low-ratio mortgages by value, have amortizations over 25 years. That’s a surge of 11 percentage points in just two years.

https://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/chasing-down-a-new-trend-in-mortgage-repayment/article37145762/

YVR
Guest
YVR

“While OSFI has not included specific references to a qualification amortization rate in its final guideline, we will be monitoring FRFIs’ (federally regulated financial institutions’) practices as the guideline is implemented,” said the official, referring to the measures known as B-20. Vince Gaetano, a principal at Monster Mortgage, said lenders will have to change their policy and procedures to take advantage of the 35-year amortization. “It will be interesting to see if lenders do this,” said Gaetano. “I wonder if they do that it might attract OSFI to audit them.

http://business.financialpost.com/real-estate/mortgage-industry-sees-amortization-loophole-in-osfis-new-stress-test-rules#comments-area

Just me
Guest
Just me

China Escalates Crackdown on Cryptocurrency Trading

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-escalate-crackdown-on-cryptocurrency-trading

China is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter.

While authorities banned cryptocurrency exchanges last year, they’ve recently noted an uptick in activity on alternative venues. The government plans to block domestic access to homegrown and offshore platforms that enable centralized trading, the people said, without being more specific about how policy makers define such platforms.