Mostly wrong for more than a decade.

A comment from Ulsterman to kick off the new year:

Well, it’s been almost 15 years of being wrong about this market. Yup, believe it or not back in 2003 people thought prices were too high. Yes, it’s comical now, but at the time when you watched a Commercial Drive condo go from 80k to 115k within a year, people were worried about buying at a peak….

Anyhow, 2018 certainly looks like there are many factors aligned against rising prices:

1) SFH prices have already been falling
2) rates are rising
3) more restrictive lending
4) a kinda/sorta foreign buyers’ tax
5) the upcoming stress test
6) insane debt levels

What i have learned through bitter experience is that the LM market can be incredible resilient, so i won’t get my hopes up for a really significant drop in prices, but i genuinely do think SFH’s will be cheaper a year from now. Will it make a difference to me? Unlikely.

Good luck to all of you in 2018!

Sort by:   newest | oldest | most voted
Oracle
Guest
Oracle

Linda Steel on cknw going crazy regarding the $500000 increase. Tom Davidoff confused as well. David Eby comes to homeowners rescue!!

Oracle
Guest
Oracle

Does anyone know the budget date? Biggest day of last 16 years.

Specuskeptic
Member

Yep. BC Libs had 16 budgets, but you hold the NDs up in dramatic fashion for their first. Putz.

YVR
Guest
YVR

Because the NPD promissed to rapidly cool housing and then delayed any action to the budget. Do you not understand you expect people to do what they promised?

Specuskeptic
Member

“NPD promissed to rapidly cool housing” Citation needed. Getting dizzy from all the spinning.

YVR
Guest
YVR
patriotz
Member

There is no specific deadline given. You know, something like “On day one of a Trump administration, the US Treasury Department will designate China a currency manipulator.”

Shut It Down Already
Guest
Shut It Down Already

Yes, you could easily argue that 4 years is acting quickly if you choose the right scale. Dummy.

Best place on meth
Member
Best place on meth

Worthless scumbag HAM denying traitorous lowlife shitbag.

Somebody must have pissed in your congee again today.

Shut It Down Already
Guest
Shut It Down Already

Pipe down, you unemployable racist.

Best place on meth
Member
Best place on meth

You love the name calling and insults, so why should I pipe down fuckface?

Did your urine soaked eggs not have enough of the secret ingredient tonight?

Shut It Down Already
Guest
Shut It Down Already

Get a job, loser.

Best place on meth
Member
Best place on meth

Been gainfully employed non-stop since age 11.

Why don’t you stop lying, you fucking sack of shit?

Shut It Down Already
Guest
Shut It Down Already

Hahahaha!

Oh dear.

Best place on meth
Member
Best place on meth

Brilliant response.

YVR
Guest
YVR

You can’t be serious? Only an NDP hack could come up with such an absurd comment. Prices have been doing the oposite as promised since the NDP was elected. I guess you could say that about every broken and backwards election promise. Just wait long enough and it may come true. Wait long enougjh and Zimbabwe will be the worlds largest economy. That is NDP spin through and through.

YVR
Guest
YVR

Except Trump kept the other 90% of election promises. The NDP we have bridge tolls, thats it. About 1% of promises kept. No attempt at the most important 99%. Need we go through all the broken NDP promises again? You must be embarrassed to still show up around here.

Specuskeptic
Member

No more union/corporate cash, so I’ll take that.
In fact, I’ll take the hope the NDs offer (and any policy than can implement) over this bullshit -> https://www.nationalobserver.com/2017/03/07/news/new-revelations-about-christy-clarks-donors
Your cries of cronyism and lying seem to reveal a Norm Coleman-sized gap in your memory.

Specuskeptic
Member

That should have said Rich Coleman. (not Norm)

patriotz
Member

“Except Trump kept the other 90% of election promises.”

Funny, back in November 2017 you said “Trump has kept every election promise.” Perhaps in March you will be claiming he kept 80%.

http://vancouvercondo.info/2017/11/friday-free-for-all-november-24th-2017.html#comments

Specuskeptic
Member

“An NDP government supported by the Greens would act quickly to cool British Columbia’s hot real estate market by creating more affordable housing and cracking down on speculators and tax evaders, the parties say.”

So, they’ll creating more housing and cracking down on speculators and tax evaders. Budget comes in a few weeks. If it doesn’t happen then, point taken.

YVR
Guest
YVR

Okay you can apologize then. What ever the NDP do in budget 2018 (I predict nothing that has impact) it is too little too late after 8 months of parabolic RE increases. At minimum more people hurt due to inaction.

Specuskeptic
Member

You had 12 years to lambast the BCLibs on the issue. I don’t recall this level of vitriol (or repetitiveness) from you on the topic. Odd that.

YVR
Guest
YVR

Are you a full on retard? The NDP are the ones who made the election promises. The Liberals did not.

Specuskeptic
Member

“Full on retard”. You must be popular with the ladies. Housing will be cheaper at the end of the NDP term.

Oracle
Guest
Oracle

The Libs did exactly what their base wanted. The NDP promised their base one thing and did another.

You seriously can’t see that?

Just me
Guest
Just me

Link?

Best place on meth
Member
Best place on meth

50K, not 500K.

If you keep repeating a lie after being corrected, you have zero credibility.

But then, everyone already knows you have zero credibility.

Specuskeptic
Member

Worse than zero credibility. There’s a conscious effort to deceive and push their pumper agenda. Boracle is a toxic liar. Prediction: (<- see what I did there Boracle? Predictions are easy if you're not held to any standard of truth or honesty) When this bubble blows, Boracle will be nowhere to be found. A special added bonus on top of housing affordability I guess. More to look forward to.

Also, I must add the friendly reminder that Boracle promised to leave the blog. Promise made, lie told (again).

Prediction: Until a price adjustment downward happens, Boracle won't leave.

YVR
Guest
YVR

“Boracle is a toxic liar.”

I think you should spend more time focussing on the toxic liars who are currently running our province. Eby’s and Horgan’s lies are more relevant and actually have impact on your life.

Best place on meth
Member
Best place on meth

Atta boy YVR, never miss an opportunity to change the subject to how horrible the NPD are.

Because you’re not partisan at all.

Shut It Down Already
Guest
Shut It Down Already

Says the moron who makes up childish new names for politicians.

“Turdeau”? Fucking hilarious, you little genius.

Best place on meth
Member
Best place on meth

Turdeau is so 6 months ago, try to keep up retard.

He’s now “The Turd”, kind of like “The Fonz”, except for the part about being manly. Or beloved. Or useful in any way.

Sit on it, AIDS!

Shut It Down Already
Guest
Shut It Down Already

I forgot, being “manly” and “growing a pair” is what matters most to knuckle-draggers who use words like “gay” as an insult. The 21st century is waiting for you whenever you’re ready.

Best place on meth
Member
Best place on meth

Who used gay as an insult? That doesn’t even make sense since gay people call themselves gay.

Now “fag” I could understand being used as an insult, but nobody around here says that either.

You seem to be throwing out more lies in hopes to get something to stick.

Just me
Guest
Just me

Actually, it is quite funny.

Oracle
Guest
Oracle

Lesson for today:

Housing liars: Eby and Carole James

Oracle: trying to knowcknsense into you so you’re not confused why Housing going up.

YVR
Guest
YVR

Funny I don’t recall the $50k wealthy home owners subsidy being promissed in the NDP election platform. I do recall a renters rebate. Any idea why the change to shift the promissed subsidy from renters to wealthy home owners? Just currious if there is some weird logic you can come up with to justify this NPD fraud to it voters?

Best place on meth
Member
Best place on meth

I’m not justifying it.

Now you’re lying as well.

Shut It Down Already
Guest
Shut It Down Already

You’re the liar – he’s asking if you can justify it, not stating that you do justify it.

Best place on meth
Member
Best place on meth

He’s implying that I’m fine with this and can justify it, which is more of the usual hyper partisan screeching from him.

Nobody asked for your worthless opinion, fucking scumbag traitor. You’re on the same level as oracle around here.

Shut It Down Already
Guest
Shut It Down Already

The have-nots are always so angry, aren’t they?

(He didn’t imply it either).

Just me
Guest
Just me

Especially when the haves are dishonest money launderers.

best place on earth
Guest
best place on earth

I said that long ago. It’s their trait.

Oracle
Guest
Oracle

WTf!?!?

I’ve one of the few guys that have been right with my predictions.

BubbleTea
Guest
BubbleTea

Non-resident patients have stuck B.C. health authorities with $75 million in unpaid hospital and ambulance bills over the last five years, according to figures given to Postmedia News by the authorities.
http://vancouversun.com/news/local-news/b-c-election-2017-non-resident-patients-skip-out-on-75-million-in-hospital-bills

Just me
Guest
Just me

Yet the children still get the CAD passport….

Shut It Down Already
Guest
Shut It Down Already

$15m a year on average is peanuts compared to the overall expenditure. Oh right, it says that in the pointless article too. The dog whistle seems to work just fine, though.

Bag it and tag it
Member
Bag it and tag it

“It’s not about the money, it’s about the principle”. Although you probably don’t know the meaning of that last word.

Shut It Down Already
Guest
Shut It Down Already

I wonder if you’re so passionate about unpaid student loans or Translink fines?

Best place on meth
Member
Best place on meth

I wonder if you’re so passionate about “racism” against all people?

Or is it just one group in particular that you care about?

Shut It Down Already
Guest
Shut It Down Already

Nope, all people. Sorry!

Best place on meth
Member
Best place on meth

And yet you never once called out space889 over his heinous comments about muslim people.

You must have been in the bathroom at the time.

Every time.

KickThemOut
Member
KickThemOut

Yes, we need more Muslim in this country. I look forward to the day when I can legally have 4 wives, and other wonderful Muslim rights & practices.

Best place on meth
Member
Best place on meth

Just so you know space, AIDS approves of your views that hungry muslim children who steal fruit from a chinese vendor are vermin who deserve to have the shit kicked out of them by a viscous han mob.

You two would make a lovely couple, you and AIDS.

KickThemOut
Member
KickThemOut

Most of those tourists who leave without paying are from Europe – Germans and British – where they have public funded healthcare. Many of them believe that tourists to their own country don’t need to pay for emergency healthcare. Obviously a bunch of locusts that need to be banned from Canada.

Best place on meth
Member
Best place on meth

What dog whistle, jackass?

There was no singling out of any group by the article or by Bubble tea?

Paranoid much, cocksucker?

Shut It Down Already
Guest
Shut It Down Already

The dog whistle that made somebody post it on what’s allegedly a real estate blog, dumbass.

Best place on meth
Member
Best place on meth

If it’s irrelevant to the blog then why did you comment on the content of the article?

Maybe in your mind the poster “implied” something that triggered you?

Shut It Down Already
Guest
Shut It Down Already

Obviously the comment was to indicate not only that it was off-topic but also a non-story even if it were on-topic, dummy.

It’s going to be a long year if you have to keep on being schooled in language basics.

Best place on meth
Member
Best place on meth

Speaking of language basics, I’ve got to hand it to the CCP for recruiting 50 cent army soldiers with much better skills these days.

The posters they used before were so ridiculously inept at English it was laughable and so obvious who they were from the first post.

You’re a big improvement over the previous models.

Specuskeptic
Member

In the world of strange coincidences, I was just looking into how to join the BCLib “digital citizen” ranks in order to see if they’re still running it. Seems to be in the digital dustbin with old websites that still feature BC’s very own Christy Antoinette. I was hoping further to get training from the OracleBot 600 or the YVR Bloviator… They’re both a bit repetitive though.

Oracle
Guest
Oracle

Reduce that blood pressure. Breath.

Specuskeptic
Member

My blood pressure’s fine. It’s your moral compass that needs work. Liar.

patriotz
Member

“$15m a year on average is peanuts compared to the overall expenditure.”

It’s not peanuts at all compared to the total billable amount, i.e. not covered by Medicare. That’s the relevant comparison, not expenditure on people who aren’t billed in the first place.

paulb
Member
Active Member

New
134
Price Change
11
Sold
81
TI:6692

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 Fridays to help keep them in the loop. No question to big or small. pboenisch@sothebysrealty.ca http://www.clivestevepaul.com

Meep meep
Guest
Meep meep

Paul Patrol is on a Roll

Best place on meth
Member
Best place on meth

January stats, benchmark prices for REBGV:

Overall +0.3%
Detached -0.1%
Condos +1.1%

Almost identical the the month before.

Boombust
Guest
Boombust

Bench marks are BS They lag by several months; your best bet is median for a more current result.

Just me
Guest
Just me

Weak sales cause average 2017 price of Vancouver detached homes to tumble 6.5%
Single family home sales in Vancouver were the lowest in almost a decade.

http://www.cbc.ca/news/canada/british-columbia/weak-sales-cause-average-2017-price-of-vancouver-detached-homes-to-tumble-6-5-1.4472117

Just me
Guest
Just me

Overseas money coming into the Vancouver real estate market has dropped off significantly, he said.

As well, there has been the implementation of a foreign buyers tax and new mortgage rules.

“I think the impact is obviously pretty noticeable,” said Saretsky.

All of this, he said, has many people opting to put their money in smaller investments like condominiums.

As a result, he said, the condo market is in an opposite situation with inventory levels going down and prices going up.

Just me
Guest
Just me

We should thank XI Jinping (a ruthless dictator) for doing what out democratically elected political leaders have refused to do for over a decade: limit the influence of money from mainland China on our RE market.

Sad, but true.

ostritch
Member
ostritch

If that were true, other cities wouldn’t be discussing Chinese money buying up their real estate.

southseacompany
Member
southseacompany

“B.C. increases homeowner-grant threshold to $1.65-million”, Globe & Mail

https://www.theglobeandmail.com/news/british-columbia/bc-increases-homeowner-grant-threshold-to-165-million/article37492703/

“Tom Davidoff, a University of British Columbia business professor who specializes in real estate, has long opposed the homeowner-grant program, which he says is antiquated and invites unaffordability.”

“”As a matter of policy-making, reducing anybody’s property taxes, and spending taxpayer money to do so, makes Vancouver less affordable, less efficient as an economy and redistributes from renters and future property owners to current property owners who are doing plenty well financially,” Prof. Davidoff said.”

Meet the new guard, same as the old guard

Just me
Guest
Just me

Davidoff stated the obvious: the homeowners. Grant, like many other RE policies, is welfare for millionaires.

Shame on politicians who choose convenience over good policies.

YVR
Guest
YVR

But Meth says no big deal. After all the NDP is giving out the millionaires welfare so it must be good. It is only inflation and the millionair home owners deserve it. Who cares if renters get nothing (opposite as promised). Davidoff must be some partisan agaist the better judgement of the NDP who know what is best for everyone.

bestplaceonearth
Guest
bestplaceonearth
Did this associate professor sell his place in 2012 and buy back in 2016? You like freebies, do you not? The money collects from taxes, grants, fees, whatever you call them, belongs to the people at the first place. It’s not the government’s money; they just have the given rights to make policies to take away the money, then refund back peanut amount to calm down the taxpayers. Rich people just happen to work harder and smarter, and being taxed to the point that their first born might be taxed too. And you, day-in-day-out, salivate for more taxes to them. If you have a brain, you would have noticed that, if the homeowners’ grants are taken away, your rent would be up by this amount accordingly. If that is not a freeloader mentality, I don’t know what is! Shame on… Read more »
history
Guest
history

The snivel service new challenge is to come up with a new welfare program for Heloc addict hedonists using the acronym SWINE, to replace HOG, and HAM, which has fallen under the butchers knife lately.

patriotz
Member

I don’t agree with the increase in the threshold (or with the HOG in the first place), but it has only gone up 3% from last year. That means fewer owners are going to be eligible for the HOG this year, since valuations have gone up much more than that. Just a cosmetic move IMHO to obscure the fact that total HOG payout will go down.

southseacompany
Member
southseacompany

“Global Housing Markets Are ‘Slowing Sharply.’ Is Canada Next?”, Huffington Post

http://www.huffingtonpost.ca/2018/01/03/global-housing-markets-are-slowing-sharply-is-canada-next_a_23322780/

“A majority of the world’s housing markets are seeing slowing momentum, and Canada could soon be among them.”

YVR
Guest
YVR

“Is Canada Next”

Maybe Ontario, but we know the BC NDP are doing their best to keep the party going here. The only thing in bears favour is the sheer incompetence of the NDP to accomplish anything.

bestplaceonearth
Guest
bestplaceonearth

Good job on putting the NDP to office. People saved $75 MSP premium a month, but the saving will go toward the carbon tax instead. And, this carob tax is becoming general revenue. Let call for more taxes, shall we! Dumb!!!

Oracle
Guest
Oracle

They won’t last long in power. No housing action plus higher taxes means back to opposition for another generation.

Either utter morons or the insiders really want the Liberals back.

Number one issue is housing. Not $10 daycare or $15 min wage that will only result in higher rents.

YVR
Guest
YVR

People didn’t save anything. The MSP premium (and bridge tolls) is just tacked on to the BC debt and will be paid back by the tax paying people with interest.

KickThemOut
Member
KickThemOut

Garth bitching about paying people a living wage, and lack of ability to dodge taxes by small biz owners again.

http://www.greaterfool.ca/2018/01/03/working-people/

history
Guest
history

Marijuana Garth

Bubble
Guest
Bubble

Time to bail:
Assessed as of July 1st, 2017 $2,685,900
731 W King Edward Avenue, Vancouver
Listed:
Aug 24:$5,000,000
Jan 3: $3,800,000
Change: – 1200000.00 -24%

Sale history:

Sale Date
July 4, 2005
Sale Price
$700,000

Sale Date
November 24, 2004
Sale Price
$525,000

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

Foreign Locusts(FL) momentum shift in RE market.

IMHO, once the FL sense blood….they will start to grind the @sses of the sellers and we will witness the opposite of Over Asking….ie Below Asking.

We can debate all we want of HAM influence….it “may” be a small % of the market……but they drive the market..they set the benchmarks..(.no different than BC assessment small reference pool).

In other words..once HAM starts the grinding process….the rest of the RE market will shite big time. SFH market will feel pain, but condo market will feel HOLOCUST.

hvmn
Guest
hvmn

$1 Million over assessed and the earth is falling?

ostritch
Member
ostritch

You forgot to mention that this block is being developed into condos so they can just wait and sell for 7 M

ostritch
Member
ostritch

Oh and west side assessments have come down by about that giving owners a break on their taxes!

Hyper-mega-Bull
Member
Hyper-mega-Bull
Lost....but not leased
Guest
Lost....but not leased

Awww..

Poor little YELLOW -SNOW flake…
perfect CRA target….

Abdul Lahazi
Guest
Abdul Lahazi

With her driving ability she should be driving a Corolla.

kabloona
Member
kabloona

I feel that way about most drivers….

😉

Anyway, she obviously has more money than brains….

😀

“The News told last January how, after driving the lightly-used Aston Martin for only a few kilometres, Liu inexplicably veered off the road and hit a large stone near Blundell and Garden City roads in December 2015…”

Just me
Guest
Just me

Thanks heavens she did not hit a pedestrian.

Best place on meth
Member
Best place on meth

“As a result of the alleged actions of the defendants, Liu is claiming a long list of personal injuries, including: depression and anxiety; panic disorders; flashbacks; suicidal periods; weight loss; sleeping disorders; low self-esteem; emotional expression issues; humiliation; trust issues and impaired ability to form intimate relationships.”

The last one is most likely due to her being a lying, cheating bitch.

All the other issues are just bad fang shway in her home. She needs turn the coffee table 30 degrees counter clockwise and all will be well.

Diadora
Guest
Diadora

“International buyers dominate Vancouver’s luxury property market, accounting for 85% of transactions,” said Greg Carros.
Chinese citizens make up the largest buyer group here.
https://www.biv.com/article/2018/1/foreign-buyers-dominate-high-end-house-sales-vanco/

history
Guest
history

Rich people come here to die. The Soul journey is known to embark near our parts. But not just anyone can get on the ferry. You cant be in debt or hold loose ethics. The aim is to leave the planet cleanly, travelling quickly.. if you havent settled your borrowing, you may not get on, and if you do, you must Serve Others for a long time. The analogy of our 1990s fast ferry fiasco is a favorite tale on the Comet circuit.

Just me
Guest
Just me

“Engel & Völkers maintains that foreign buyers remain a dominant force in Vancouver’s high-end housing sales, though a recent survey by Statistics Canada found that foreign ownership in Metro Vancouver now represents less than 5% of all residential sales and 7.9% of condo purchases. ”

“Chinese citizens make up the largest buyer group here, followed by French and German buyers.”

Just me
Guest
Just me

Spelling out things we already know. Denying the self-evident truth is not going to help us.

patriotz
Member

Note that the article does not say what price level E&V are using to define “luxury”, nor does it identify their data sources.

history
Guest
history

https://wolfstreet.com/2018/01/03/us-auto-sales-fall-for-2nd-year-at-gm-ford-toyota-fca-hyundai-kia-bmw-and-others/

Check out the first three comments. The talk right off the bat is Canadian vehicle sales in heady territory, Slugger Heloc rounding the bases, he’s our He-role, hero of the Nation, the only thing thats wrong with him is mental re-tardation.

southseacompany
Member
southseacompany

“Daily Poll: Was raising B.C. homeowner grant threshold a good idea?”, Vancouver Sun

http://vancouversun.com/news/local-news/daily-poll-was-raising-b-c-homeowner-grant-threshold-a-good-idea

patriotz
Member

“The threshold (now $1.65 mil) is up from $1.6 million last year and $1.2 million in 2016.”

$400K increase under you know who versus $50K now.

Just me
Guest
Just me

I feel embarrassed at the very thought that we are giving a tax rebate to multimillionaires, while taxing labor earners at 50%.

This is not the way you run a functional society. Christy Cark was indecent, I agree. But the NDP gave a very bad signal yesterday.

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

So….$64,000 err $50,000 Question is why did the “eat the rich” NDP raise the limit?
Did their experts determine that an increase was necessary to avoid__________?

Just me
Guest
Just me

There are two kinds of rich people:

1) those who work, innovate and produce wealth for others;
2) those who profit from idle rents and from positions of market power.

Any tax expert would say to tax type 2 heavily while letting type 1 relatively tax-free. BC and Vancouver do the exact opposite. Homeowners in Vancouver are certainly not the first type of rich people.

YVR
Guest
YVR

When the Liberals increased the grant it was an election year. There is no logical reason for the NDP to increase the grant in year one with house prices already going parabolic other than to pump housing further. Either that or they just have no clue.

best place on earth
Guest
best place on earth

” while taxing labor earners at 50%”
I would not call the people at 50% tax margin labor earners. They are part of the multimillionaires.
You called for tax the rich, and now you feel embarrassed about it.
Take a stand! You bear flip-flop too much.

Just me
Guest
Just me

Your comments make no sense, as usual. Think before hitting the keyboard.

If you account for CPP, and other charges, most people pay an effective 50% rate even if they earn a gross income between 160k and 200k. In which alternate reality are these people multimillionaires? It would take them a long time to save up the money which homeowners have made in the past three years.

Even then, any serious tax expert would advise against taxing labor and, rather, moving the tax burden on idle RE investments. That is textbook stuff, and BC is doing the opposite.

best place on earth
Guest
best place on earth

If people earn that kind of income, and still have trouble of not owning any form of housing, then they need a reality check.
On the other hand, they are entitled for latest iphones, high limit data plane, every day latte, eat out a few times a week, travel every year, and saving for a single house in Point Grey.
Only heaven can save you now.

history
Guest
history

It is true, the Heavenly planet is important to understand, how it functions. The Father of the heavenly planet is a big disrupter this year.

patriotz
Member

” In which alternate reality are these people multimillionaires?”

The reality in which most of them became homeowners before 2000. The great majority of such people are middle-aged and have been making above average incomes for their whole working lives.

I do think that we should tax RE a lot more, but I find the idea that this be used to give the 160k+ crowd a break obscene in a city with as much inequality as Vancouver.

Just me
Guest
Just me

Then, if you think that most of the 160k+ earners are homeowners, tax their housing wealth. What is the problem with that?

The difference is that one tax (on earnings) is highly distortive. The other (the tax on land and housing) is much less distortive and a way more efficient means of equalizing.

Incidentally, the kind of incomes we are discussing on this blog, however high, are in no way a guarantee of a great life in Vancouver. The way to be rich in this city is to speculate in RE.

Bestplaceonearth
Guest
Bestplaceonearth

Of course you like higher taxes because it’s not your money and you would think you benefit from it. Isn’t that freeloader mentality?

Abdul Lahazi
Guest
Abdul Lahazi

The Freeloaders are the home owners who don’t pay their fair share of taxes on their overvalued assets.

YVR
Guest
YVR

You do know the $50k is in addition to the $400k already in place. If the $400k was bad then adding another $50k to it is outrageous. Especially for the party that campaigned on a grant for renters.

Bag it and tag it
Member
Bag it and tag it

Yeah let’s go back to the party that increased it by $400K since that she the lesser of 2 evils according to your logic, right?

YVR
Guest
YVR

Yes adding more to something bad is worse. Are you really that stupid?

southseacompany
Member
southseacompany

“Weak sales cause average 2017 price of Vancouver detached homes to tumble 6.5%”, Vancouver Sun

http://www.cbc.ca/news/canada/british-columbia/weak-sales-cause-average-2017-price-of-vancouver-detached-homes-to-tumble-6-5-1.4472117

“With 2017 behind us, for the first time in a decade, so may be some of the highest housing prices. Real estate agent and industry blogger Steve Saretsky says the average price of detached homes in Vancouver fell 6.5 per cent last year.”

YVR
Guest
YVR

Except most housing in Vancouver is now condos.

https://www.theglobeandmail.com/real-estate/vancouver/vancouver-condo-prices-soar-as-sellers-market-emerges/article37488343/

When is Eby holding his next press conference?

ostritch
Member
ostritch

Ya some of those new 4.5M Kits houses are now almost 4.1.

Diadora
Guest
Diadora

Smurfing to buy VanRE: The plaintiff proceeded to transfer $750,000 to the defendant by effecting a series of transfers through nine individuals who brought in $50,000 each for tourist purposes, and from one account in the United Kingdom belonging to an unrelated company.
https://www.canlii.org/en/bc/bcsc/doc/2017/2017bcsc2395/2017bcsc2395.html

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

Foreign locusts fighting amongst themselves…

..doesn’t get any better than this!!!!!

Abdul Lahazi
Guest
Abdul Lahazi

Their greed is boundless.

Just me
Guest
Just me

Thanks for sharing this.
The mainlanders are certainly inventive and resilient: they don’t give up the fight easily.
Unless we put in place policies that explicitly target these scams, we will not solve the housing problem in Vancouver.

Bubble
Guest
Bubble

Judge:
I agree that neither party is credible. I did not find any of the witnesses who testified in this case credible. In my opinion, no one told the truth about their relationship and the circumstances surrounding the purchase of the Property. They all testified to occurrences and events that made no sense and were not credible.

Best place on meth
Member
Best place on meth

There’s only one way to settle this that’s fair and just.

Convict BOTH locusts of fraud, fine them each $5 million and deport them.

KickThemOut
Member
KickThemOut

Meanwhile in NDP paradise Venezuela: Venezuela Forced To Pay For Medicine With Diamonds And Gold
https://www.zerohedge.com/news/2018-01-04/venezuela-offers-pay-medicine-diamonds-and-gold

And people think NDP will make government better and help bears….geez… government never helps.

Just me
Guest
Just me

How do you make up the nonsense you write? Do you dream it at night?

best place on earth
Guest
best place on earth

Please don’t discourage the people who are waiting for for the magic wand from the NDP to solve their problems.

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

Venezuela is simply a case study.
They tied their future to oil…..bad move…

Lets see how Alberta pans out…

history
Guest
history

Venezuela’s demographic transition is being done at the expense of a hyperinflationary currency. In the West, the way to havana is through debt bondage. The third rail of demographic transition is War, Libya and Syria, ok? Cya.

paulb
Member
Active Member

New
85
Price Change
15
Sold
49
TI:6668

http://www.clivestevepaul.com

Lost...but not leased
Guest
Lost...but not leased
From GT blog: For the first time in the life of most buyers, detached houses in the country’s biggest, hottest market ended the year worth less than when it began. Despite the historic price explosion of the first four months of 2017, properties in 416 shed almost 3% of their value while the burbs fared slightly better at a negative 2.5%. Sales were down too. More than 92,000 listings changed hands, a drop of over 18% from the year before. In December sales continued to decline, down 7% year/year, while homeowners began panic-listing. The number of new properties hitting the market shot up more than 50%, bringing total active listings bloating higher by 172%. Wow. Almost 13,000 houses for sale compared to just 4,700 last year. The average price was dragged down by detached deals, but pushed higher by condos.… Read more »
Lost...but not leased
Guest
Lost...but not leased
Ugly and overpriced: assessment appeals turn realty world upside down http://www.cbc.ca/news/canada/british-columbia/realty-b-c-assessment-appeals-1.4471964 QUOTE: ‘Frenzy’ made him do it One Langley man argued unsuccessfully that market “frenzy” drove him to pay $31,000 more than the list price for his single family home; He was fighting an assessment of $905,000, which was $5,000 more than he paid. ============================================================================ QUOTE: Even the owners of high-end realty appealed. One couple argued the value of their Point Grey home should be set at $15.8 million — as opposed to $17.6 million. They were only partially successful, dropping the assessment by $228,000. ========================================================================= From Comments: Harry Haller The Liberals in Ontario simply eliminated the appeals process altogether. The snivel servants in M.P.A.C. now have unchallenged authority in property assessments, and if you don’t like their valuation of your property, the only people who will hear your complaint… Read more »
Just me
Guest
Just me

Twisted path for China-to-B.C. funds revealed in real estate deal.

http://vancouversun.com/news/local-news/illegally-shipping-money-from-china-into-b-c-real-estate-as-laid-out-in-b-c-court-case

The CEO of a Chinese company moved $750,000 from China to Metro Vancouver for a real estate deal with the help of nine strangers who each brought $50,000 into Canada for “tourist purposes,” according to a B.C. Supreme Court judgment.

The judgment sets out the method through which Hong Jie “Anita” Wang, an executive in Shandong, China, transferred money for the purpose of buying a five-acre Port Coquitlam property with a B.C.-based partner.

Just me
Guest
Just me

The B.C. realtor who acted as the buying agent on the 2011 deal, Ravi Panwar, told Postmedia that such land deals — where offshore investors partner with B.C.-based counterparts — are “quite common,” though he didn’t know how often they involve money shipments like those outlined in this case.

Just me
Guest
Just me

Coquitlam businessman William Wang, who has lived in B.C. since 2001, returned to his home province in 2011 as a member of a B.C. trade delegation, according to court filings. While there, he met Anita Wang, head of a large food manufacturing company, and the two agreed to invest together in land in Metro Vancouver.

Best place on meth
Member
Best place on meth

Everyone knows a Wang should never do business with another Wang, Wang and Wang is nothing like Yin and Yang.

When two Wangs get together it usually spells trouble so it’s just common sense to keep Wangs apart as much as possible.

Unless they’re flying around in a yellow helicopter…..that’s the only exception.

Abdul Lahazi
Guest
Abdul Lahazi

Wang vs. Wang.
Can’t make this stuff up …

HHaHa
Guest
HHaHa

I saw a porno movie in Hong Kong titled Wang v. Wang , rated XXXsmall

Just me
Guest
Just me

China’s capital control measures allow citizens to export only US$50,000 a year, which means, as Bloomberg News reported in 2015, “When Chinese nationals move money overseas, they often do it the way drug traffickers or terrorists do: They break down cash into small amounts below what would trigger official scrutiny.”

It’s reasonable, Gerow wrote, to infer that Anita Wang “would have known whether she could transfer money legally from China to Canada for investment purposes, and what steps were necessary to do so,” and that “money being transferred through nine individuals for tourist reasons is not a legal manner to transfer money to be used for investment purposes.”

Best place on meth
Member
Best place on meth

“When Chinese nationals move money overseas, they often do it the way drug traffickers or terrorists do”

I’ve often referred to the chinese invaders as financial terrorists based on their rape and destruction of our city.

Just me
Guest
Just me

Panwar, the realtor, said such domestic-foreign joint partnerships are as common in Metro Vancouver real estate today as they were in 2011 when he was the buying agent for the two Wangs, but he didn’t know how many used Anita Wang’s method of transferring money into Canada.

“Until the court case came out and revealed how she transferred the money, I had no idea how the money got into this country, honestly,” Panwar said Thursday, reached by phone while on holiday in Hawaii.

Diadora
Guest
Diadora

Now the news has surfaced, it does not look good to both Wangs as China lose face. And if either one is still in China, hell is going to break loose.

Just me
Guest
Just me

The NDP has to do something about the ongoing fraud and deceit in our housing market, and in particular put in biting regulations that prevent the rampant money laundering that takes place as a matter of routine in our RE market.

They have to intervene, they cannot turn a blind eye and do what the BC Libs have done in the last 16 years. It is a matter of basic civility.

Best place on meth
Member
Best place on meth

Have you let them know how you feel?

http://davidebymla.ca/contact/

Just me
Guest
Just me

Yes. And I will again.

YVR
Guest
YVR

You have. You have said repeatedly here the NDP have been perfect. No wonder they keep kicking you in the balls. You thank them after.

Best place on meth
Member
Best place on meth

“You have said repeatedly here the NDP have been perfect”

Liar, you’re getting desperate.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Landlord Doesn’t Want Me to Sublet to Non-Chinese

https://www.reddit.com/r/vancouver/comments/7o2zy8/landlord_doesnt_want_me_to_sublet_to_nonchinese/

welcome to the sinosphere.

history
Guest
history

A new song…

ProfileEconomy by Swinelord

Specuskeptic
Member

From TheTyee: “Time to Scrap the Home Owner Grant?” https://thetyee.ca/News/2018/01/05/Time-To-Scrap-Homeowner-Grant/

“The British Columbia government would do a better job of providing affordable housing if it eliminated grants to home owners and cancelled a promise to provide rebates to all renters.

That’s the assessment of Marvin Shaffer, a Simon Fraser University economist who previously worked in senior positions for the provincial government. ”

*Marvin Shaffer was recently promoted from Captain to Professor Obvious.

bestplaceonearth
Guest
bestplaceonearth

why not eh? let cancel $570 HOG to the homeowners; meanwhile, keep the promise by giving the renters $400 a year. It’s a win-win to the naysayers right? What if the homeowners would use it as excuse to jack up $50 a month to renters. Is it still a win-win?

patriotz
Member

“What if the homeowners would use it as excuse to jack up $50 a month to renters.”

Landlords will charge as much rent as they can legally get. “Excuses” don’t factor info it. Sitting tenants are subject to rent controls. New tenants aren’t, but landlords can’t get above market (by definition), and giving renters $400/year isn’t going to push up the market rent that much, because people don’t spend 100% of their income on rent.

best place on earth
Guest
best place on earth

You are always right, are you not! How many year have you been away from this town now? I heard that it is very cold in Ottawa, and property market there is taking off too. Where are you gonna move next?

bullwhip29
Guest
bullwhip29

the ndp figured out that implementing the renter’s rebate (if done properly) will be like pulling on a loose thread, so it is doubtful this will ever see the light of day

Abdul Lahazi
Guest
Abdul Lahazi

it would also be open to abuse/scamming by the usual suspects.

Abdul Lahazi
Guest
Abdul Lahazi

Unemployment rate tumbles to 5.7% to reach lowest mark in more than 40 years

https://app.tmxmoney.com/news/cpnews/article?locale=EN&newsid=TB88800&mobile=false

The unemployment rate dropped to 5.7 per cent in December, down from 5.9 per cent the month before, to reach its lowest mark since comparable data became available in 1976.
“The books closed on a phenomenal year for Canadian employment with another spectacular result for December,” CIBC economist Nick Exarhos wrote in a brief report.

>>> the economy is on a fast boil and there is speculation that the BoC interest rate may go up this month… and increase FOUR times over 2018.

Just me
Guest
Just me

If Poloz & co do not increase rates on January 17, they are a band of clowns.

bullwhip29
Guest
bullwhip29

while it appears to be already baked in the cake, there is a chance they continue to sit on their hands and cite the following as reasons for their inaction:

– NAFTA, Trump and other global economic black swans that could rear their ugly heads
– to further evaluate recent changes to mortgage rules, lending guidelines etc
– further rallies in the loonie will wreak havoc on many sectors of the cdn econony incl exports, real estate investment, tourism and retail all at the same time
– to keep all the market experts on their toes…LOL
– everyone already thinks they are a band of clowns, so they have nothing to gain by doing the prudent thing and turning the music off

Just me
Guest
Just me

Well, they said they would make data-driven decisions. Both export growth and employment are doing extremely well. The data has spoken: will they renege on their “data-driven” pledge?

As former governor David Dodge mentioned recently, Poloz and Wilkins are introducing massive amounts of systemic risk into the credit market by keeping rates low for longer. There is no free lunch.

Muri
Guest
Muri

All I can say is that selling my condo in 2016 has been the biggest mistake of my life, and I have a very slim hope of getting back into the market (sold for 600 now assessed at 770). If you can get in, get in now. Vancouver is going the way of San Diego, San Francisco, and all other global cities.

All-in
Guest
All-in

Go away.

best place on earth
Guest
best place on earth

please don’t rub salt to bears’ wounds.

Time to go
Guest
Time to go

All I can say is that buying my detached home in 2016 has been the biggest mistake of my life, and I have a very slim hope of getting out of the market (bought for 1.6 mil now assessed at 1.7 mil, but will actually only fetch 1.4 mil and falling daily). If you can get out, get out now. Vancouver is going the way of Las Vegas, Miami, and all other bubble cities.

See, we can all make up any narrative we want. Now please adding to the noise and post something useful.

best place on earth
Guest
best place on earth

You did not buy a home. You bought a house for speculating.

Bear Vancouverite
Member
Bear Vancouverite

As did probably thousands of others. When those speculators start bailing watch out!

Abdul Lahazi
Guest
Abdul Lahazi

This is just a parody of the Muri post above.

Burnabonian
Guest
Burnabonian

No you sold within spitting distance of the peak and you want us to know it.

You lucked out and came here to humblebrag.

Nobody can time the market but through shthouse luck you came very close.

Swim in your winnings like Scrooge McDuck while the poors squabble in the street.

You have earned it.

Best place on meth
Member
Best place on meth

Oracle?

KickThemOut
Member
KickThemOut
Lost....but not leased
Guest
Lost....but not leased

THIS IS NOT NEWS !

Everyone knows Chinese have poor math skills….