BC, opinion, politics, prices, supply

The architect and the economics professor

179
179 Comments

Bear Vancouverite pointed out this debate on CKNW:

I wanted to share this with you guys: a debate between Tom Davidoff and architect Michael Geller. Davidoff is a UBC economics professor in the Sauder School of Business which some here have (wrongly) accused of being in the RE Industry’s pocket. In this debate Davidoff’s position is that:

1) The rich who own huge homes are being subsidized by the rest of us
2) We should get rid of the Home Owner’s Grant (Michael Geller brings this up too)
3) We should encourage more density in super low density areas like Point Grey
4) We should not gentrify low income areas to increase density if we can increase density in wealthy areas
5) We need to curb demand using tax policy ( Speculator’s Tax)
6) Housing needs to be in line with local incomes

I’ve seen other interviews with Davidoff in the past and I believe he considers our housing overpriced, manipulated by wealth and speculation, and would like to see prices more in line with local incomes.

The one aspect that he believes that I think have offended some people here is he believes “everyone wants to live here”.

https://omny.fm/shows/steele-drex/on-vancouver-housing-geller-v-davidoff-heavyweight

179 Comments
newest
oldest most voted
Inline Feedbacks
View all comments
trackback

[…] prediction –Why people who can buy don’t –Less income that property taxes –FOMO drives condo sales –Victoria 2nd least […]

0
0
trackback

[…] Southseacompany points to this article wondering how ‘sharp’ any correction would be: […]

0
0
bullwhip29

Vancouver vigilantes take housing matters into their own hands
https://www.theglobeandmail.com/real-estate/vancouver/vancouver-vigilantes-take-housing-matters-into-their-own-hands/article37716250/

0
0
Yikes

It is time for Real Canadians to take back their country from the foreign invader. Politicians had better take note.

0
0
Shut It Down Already

Admin has now made it clear that this is the type of blog they want. What a shame.

0
0
Yikes

if you don’t like it then GTFU.

0
0
Shut It Down Already

Want to try that again?

0
0
Just me

Clearly you feel superior to most people participating in this forum.
Perhaps you should leave.

0
0
Shut It Down Already

Those who use or defend racial slurs are inferior to just about anybody.

0
0
Hyper-mega-Bull

by ratting out people posting short term rentals on using an english language site?

0
0
Just me

Calling out illegal behaviour is now a bad thing? Really?

0
0
Hyper-mega-Bull

>Calling out illegal behaviour is now a bad thing?

according to who?

0
0
bullwhip29

River Rock VIP host investigated for alleged anti-money-laundering violations
http://vancouversun.com/news/local-news/river-rock-vip-host-investigated-for-alleged-anti-money-laundering-violations

0
0
Yikes

LISA GAO. Fine. Prison. Deport. Get rid of this scum bitch who is a traitor to Canada.

0
0
xhistory

https://www.theautomaticearth.com/2018/01/a-modest-plan/

Since this webforum bills itself as solfing a problem, i offer Dr.D’s plan. Housing is but a side show, if you’ve been negatively affected by high prices, you are collateral damage. Sorry, but we have to reset a currency.

0
0
southseacompany

“Southern California median home price breaks record set last decade during housing bubble”,

http://www.latimes.com/business/la-fi-home-prices-20180124-story.html

“The Southern California median home price in December finally surpassed bubble-era highs, a milestone that took more than a decade to achieve and is once again raising concerns that housing is too costly.”

“The six-county region’s median price surged 8.2% from a year earlier to $507,500, real estate data firm CoreLogic said Wednesday. That tops the bubble-era high of $505,000 in 2007, which was matched in September and November.”

Here in Van we’d call $507k ‘affordable housing’.

0
0
kabloona

They should show the “inflation adjusted” price, not the nominal….

🙂

Actually, they did…..

😉

“….Adjusted for inflation, the region’s median is still nearly 13% below the 2007 peak, and there are other caveats as well. But the new nominal record is noteworthy as a historical marker and because more borrowers who were underwater probably are no longer.

“It goes to show you just how outrageous the last bubble was — for us to take 10 years to get back to that nominal level,” said Christopher Thornberg, founding partner of Beacon Economics.”

0
0
-bubbly-

Hello everybody, This is my first time on this blog after several years. I used to frequent the bubble blogs at least since 2005/2006 until about 2012 or so, when it all became just too depressing. I am recognizing some of the old names: BPOM, patriotz, bullwhip, etc. Have any of you bought? This bubble has been going on for a very long time. More than a decade. That’s a good chunk of life, isn’t it? I was waiting for too long. At some point, I had to decide – buy or move somewhere else. I bought. Some of my older friends (mid 40s) didn’t and now feel that they are too old to take on a mortgage anyway. I know they have been putting off important life decisions because of this. Such a waste… How much longer are planning… Read more »

0
0
Yikes

you are either a random troll or BPOE.

0
0
-bubbly-

Neither. Would you like to address the points I made? There are people who have been waiting for a crash since 2004. Let’s say that it’s 2004, you are 26 years old, someone who recently finished studying at a university. Your whole life is ahead of you. You have dreams and plans and everything seems possible. You want a career and one day, not too far in the future, you want to live in your own house with your family. But you look around and see the craziness of the real estate market. You say “screw that!” and decide to wait it out and save for a good downpayment. You wait and save, only to see that the savings are growing at a much slower rate than the market. But you know that the market is a bubble and you… Read more »

0
0
bullwhip29

Tourism Vancouver campaign enlists Chinese star power
https://bc.ctvnews.ca/tourism-vancouver-campaign-enlists-chinese-star-power-1.3774649

0
0
Yikes

“I really like this city. I came here many years ago, and this time, I gained a deeper understanding of this place,” Tao said through a translator.

Came here ‘many years ago’ but still needs a translator …

0
0
southseacompany

“Key interest rate will likely rise again in April: PBO”, Global News

https://globalnews.ca/news/3981574/interest-rate-likely-increase-april-parliamentary-budget-officer/

““We continue to expect that the Bank of Canada will again raise its policy interest rate by 25 basis points in April,” the PBO (Parliamentary Budget Officer) says.”

“That will bring the key interest rate to 1.5 per cent, up from the current 1.25 per cent”

0
0
Best place on meth

My attacks on the Liberal-china party has angered the hyper-partisan retard on VCI.

Remember this.

0
0
Bestplaceonearth

You are angry at everything anyways that makes you mentally challenged and certifiable. Good luck with the pills.

0
0
Laibach

Good on you and your consistency. Always saying a little but unbearably stupid. Need to ask you if have you been trained in some of those Confucius institutes or at least attend it online?

0
0
bestplaceonearth

You guys keep whining the same thing for the since 2004. What else is there to say as there is a whole team of cut-and paste here already? Don’t you just get tired of your own salivating!

0
0
YVR

The guy is beyond pills. They take him out of his straight jacket for one hour per night. Thankfully his caretaker has him shackled up again until tomorrow.

0
0
YVR

The only person in China right now if Horgan and his NDP entourage. Not only a liar but a traitor.

0
0
bestplaceonearth

The ignorance people here continue to pray the NDP, and the Green would fix their failures in Feb.

0
0
Laibach

It’s always irresistible to not to point out the craziness we got in with generous influence and cultural contribution of scumbag locust launderers. This house for example got sold in Connecticut and not in some shithole village in Ukraine so comparison with BC does make sense…

http://www.dailymail.co.uk/usshowbiz/article-5307997/Award-winning-artist-Cyndi-Lauper-sells-Connecticut-home.html

0
0
Best place on meth

It’s fucked up witnessing what 800K buys in first world areas that locusts haven’t consumed.

0
0
Laibach

Total fuckup, it’s less than 1 hour (32 miles) away from Manhattan, New York when it comes to first world areas.

Now let’s wait on some of regular idiots to explain how similar square footage could be possibly found in Pemberton perhaps in the worse condition but with the great potential for a price growth due to interest from mainland China and lack of FBT.

0
0
patriotz

” it’s less than 1 hour (32 miles) away from Manhattan”

48 minutes best time on the train to Grand Central, rush hour. No way you could make DT Vancouver from Squamish in that time, never mind Pemberton.

0
0
xhistory

Thats why you live in a van, and hoard houses as hard currency.

0
0
Best place on meth

One thing united the liberal candidates in last nights debate, they all showed their utter hatred and contempt for proportional representation.

The even called it an attack on democracy, as hilarious as that is.

The desperation was obvious, they know their party is finished if PR passes.

0
0
YVR

The party that won the popular vote 5 elections in a row would be done? You really are stupid.

0
0
Just me

If PR passes, they are cooked. The BC Libs are over, kaput, finito. They know it. That is why they hate PR.

0
0
YVR

That would assume all BC voters turn to retards like you.

0
0
Just me

60% og BC voters did not vote for the BC Liberal party.

0
0
Repo

Car repos are hockey sticking, were told to anticipate hundreds over the next few months, we only did maybe 150 in 2017 . Broke is the new fad

0
0
Lost....but not leased

CRA are like sharks circling at the periphery…?!?
..may be a good strategy vs Godzilla stomp fest…

Crack down on the high percentage convictions..then the other “usual suspects” capitulate via limited amnesty

0
0
paulb

New
155
Price Change
32
Sold
146
TI:7311

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

0
0
Lost....but not leased

Oracle..

2 different avatars..

please decipher

0
0
Bag it and tag it

How do you think he go those 2 upvotes?

0
0
Bag it and tag it

*got

0
0
Oracle

Weaver backs down on bringing NDP down on LNG. What a fake!

Hahaha. When will people realize they need a new people’s party. You guys are being played.

0
0
Oracle

And what does everyone plan to do after the budget is a non event??

Me? I’m moving away. And making sure to minimize my taxes and vote for everything user pay. Otherwise I’ll be subsidizing the money launderers that want to play here.

Fuck that.

0
0
Spec

“I’m moving away.” You can’t even leave this blog (as promised). LOL. Are you moving to Honolulu? Other places in Japan?

0
0
Lost....but not leased

Davidoff and Geller debate?

What a circle jerk…..
Tired of the media ad- nauseum anointing of the same handful of experts on any given topic. No credibility.

Geller admitted that he takes his seniors property tax deferral and places it in an higher interest account.

Time to clean house on these twits…

0
0
Lost....but not leased

Hey…..sorry for the absence….will try to limit the delay of my globally respected opinions ….

0
0
BubbleTea

How to fix Canada’s ‘Ghost Immigrant’ fraud problem
Canadian policy makes it easy for unscrupulous wealthy foreigners to dodge their taxes. The solution is surprisingly simple.
http://www.macleans.ca/opinion/how-to-fix-canadas-ghost-immigrant-fraud-problem/

0
0
xhistory

After reading that, I feel a post on Moral Hazard coming on.

0
0
Just me

This is a truly great article. So many good points and simple facts.
CRA are you listening?

0
0
BubbleTea

CRA is too busy harassing min wage waitresses about tips, it the non-racist thing to do.

0
0
Lost....but not leased

Shite..

Next they may be tackling No.5 Orange pole dancers….
= .is nothing sacred??????

0
0
Yikes

CRA needs to pull up their socks and get to work dealing with these tax cheating immigrant scum who use Canada as a doormat of convenience. All honest taxpaying real Canadians are getting screwed over by these cheaters. We see article after article about this and nothing ever changes.

0
0
xhistory

We are seeing the flipside to last centuries arrogance, in the form of vengeance. I cant see a more basic explanation… the robber barons today wear thonges and do every manner of yellow collar cheating.

0
0
Doomcouver

We need more of this to happen:
http://www.nsnews.com/news/cra-targets-rich-neighbourhoods-1.23134772

If you declare less income than you pay in property tax you should be triggered for an automatic CRA audit.

0
0
Best place on meth

“In certain neighbourhoods – like Chartwell and Ambleside – the percentage of “low income” families was between 25 and 33 per cent of all households.”

I recall some asshole here on this blog nicknamed after an auto-immune disease tried to justify this by claiming that West Van’s poverty rates were due to the native reserve at the foot of the Lions Gate bridge.

But Chartwell is way up the hill in the British Properties.

Locusts have been invading that area for many years, they might even be a majority now.

0
0
YVR

But I thought these newcomers strengthen our province. Houses are for people who want to come to our province to play. Did you expect them to pay income taxes to play?

0
0
Best place on meth

Do your diapers have a BC Liberal logo on them?

0
0
YVR

I don’t wear diapers. Not many adults wear them. Just whiny little man childs like you.

0
0
Best place on meth

Aaaaand…..we’ve hit bottom.

I’m done. No point anymore.

WHERE EBY!?? WHERE HE!?

~drool~

0
0
Laibach

Ironically, what if all those honest taxpaying real Canadians (because they are being robbed and screwed) take justice into their hands because the state doesn’t want to and deal with all these tax cheating immigrant scum who use Canada as a doormat of convenience? I bet the state would be quick and efficient in using all available legislation and power to deal with that problem in the expected way.

0
0
Best place on meth

“The immediate impact of these combined efforts would mean that current (and future) immigrants will be forced to make a clear choice. If they wish to maintain their permanent residence status or qualify for citizenship, they will need to declare themselves Canadian tax residents and pay full Canadian tax on their worldwide income. If they try to under-report the amount of their worldwide income, then their case will immediately be audited by CRA. If CRA finds they have engaged in tax evasion, they will suffer the double whammy of tax evasion and also being stripped of their immigration status or denied citizenship, because of fraud. All family members who engaged or assisted in this fraud would suffer a similar fate.” Imagine how many fewer locust there would be in our country if this advice had been followed by our useless… Read more »

0
0
YVR

What ever happened to Eby?

0
0
Best place on meth

Does anyone here speak partisan retard?

It’s a special dialect of retard that few people know.

Aw fuck, never mind.

0
0
YVR

Time to cry yourself to sleep. Night night man child.

0
0
Just me

Have you had a stroke so that your brain is no longer able to,process and retain information. If so, I suggest you google Eby and see how he did in 6 months what the B.C. Libs refused to do in 16 years. Starting from the reform of donations and financing of parties. Major constitutional change (for the better).

0
0
YVR

Eby is a lying joke. Even the donation reform was a lie. It was not supposed to be financed with tax payer dollars. That’s all they guy can do in 7 months?

0
0
bullwhip29

ummm, he is dealing with a little money laundering issue that seems to have caught even the most critical off guard in terms of size and scope. folks, many billions if not tens of billions in sketchy funds have washed up onto our shores in recent years and trying to get a handle on who has done what and when will be next to impossible. imho, this is the root of the housing problem and those that claim he is doing nothing about housing fail to see this.

0
0
Hyper-mega-Bull

the entire shaughnessy neighbourhood was designated a heritage area. and all the people who bitch about housing, want more density, etc are happy about that.

shaughnessy is more central than point grey. it’s very close to a skytrain line, major hospital, downtown. but it is now untouchable.

no one wants those crappy old houses anyway. i have no idea why COCs keep shooting themselves in the foot, but this city is the way it is for a reason. voters (COCs) are just too damn stupid 😀

0
0
YVR

“shaughnessy is more central than point grey”

So what. it is not about being central. East Van is more central. Point Grey is on the water, borders large parks, has extra large lots and many worthless vacant and underutilized houses. At some point the skytrain will go to UBC through Point Grey. I say bulldoze the whole place. Nobody would notice.

0
0
xhistory

… and put up a parking lot?

0
0
Hyper-mega-Bull

neither east van nor point grey have been designated untouchable. shaughnessy has. you seem to be ignoring this fact.

and you are someone who is calling for more density. literally bulldozing neighbourhoods for it.

but you ignore a large neighbourhood near malls, skytrain, hospital downtown that has been deemed untouchable. this is exactly what i’m talking about.

0
0
Hyper-mega-Bull

basically, i’m saying you’re just too damn stupid 😀

0
0
YVR

The other 95% of Vancouver is not untouchable and there are much better areas to develop. Lets focus on the 95% before we worry about the last 5%. Are you too stupid to understand that?

0
0
Hyper-mega-Bull

if you cared about density why would you support removing a neighbourhood from the density conversation?

0
0
Best place on meth

Shaughnessy should be bulldozed while all the locusts are asleep.

Assuming any of them are actually living in the houses.

0
0
YVR

But that is where the housing for people who “play” in our province are located. That is where the homes of the “newcomers who strengthen our province” are located. Have you not been listening to Selina and Carol? At least we know the coming NDP budget will protect these wonderful people.

0
0
Best place on meth

Never miss an opportunity to change the subject to your hatred of the NDP!

Not…partisan….AT ALL!

0
0
YVR

From the most partisan racist person on this blog. Just quoting the NDP who don’t seem to share your values. Are you too dumb to figure it out?

0
0
Best place on meth

I hate political parties.

Now go look up what partisan means and then slowly think this through, psycho.

0
0
YVR

Hilarious. Call the guy a racist and a partisan and he only denies being a partisan.

0
0
YVR

HOUSING MINISTER SAYS THERE IS NO MAGIC BULLET FOR THE HOUSING CRISIS

Selina Robinson says there is no magic bullet to solve B.C.’s housing crisis least of all banning foreign buyers… in Budget 2018 we are certainly going to be taking a look at all of those issues. Making sure that housing is really for homes for people who live, work, and play here in our province.”

They will “look” at in the budget. Look at it? More studies? Now it is people who “live, work, and play” here in our province. Play? That is a new one. Used to be live and work. Now it is play. More backtracking. Does gambling at a casino count as play? How about driving a Lambo with an N sticker on it? Sounds like a free pass to HAM to me.
http://www.radionl.com/2018/01/22/housing-minister-says-there-is-no-magic-bullet-for-the-housing-crisis/

0
0
Laibach

You are right, “Play here in our province”, an amazing one. What a pile of garbage told by someone who is nothing less but the minister, an elected minister, a publicly accountable figure? Then one justifiably wonder what kind of organization/party would bring such clowns up to represent them? Sounds like we steadily continue to be immensely screwed as citizens and society, regardless of who is in power in this travesty of a province called BC.

0
0
YVR

If it was incompetent to not do it 3 years ago what would you call not doing it today? Lots of grandstanding and finger pointing by the NDP but no action in 7 months.

0
0
Best place on meth

Todd Stone, now this worthless cunt is running for the leadership alongside the other 5 worthless cunts.

The liberal party has nothing but corrupt, empty shells of former human beings left in it.

0
0
YVR

Sounds like you are describing Eby.

0
0
Best place on meth

I can’t believe I didn’t notice earlier, but you’re a psycho.

0
0
YVR

Relax. No need to freak out. I heard Eby is going to come out of hiding once Horgan gets back from China.

0
0
Best place on meth

Wow….accusing Eby of doing nothing.

What the fuck do you do in life?

0
0
Whister or Bust?

No one is accusing him of doing nothing.

He’s very good at talking and making promises AND then doing nothing.

Eby has broken every promise he made. 2% tax anybody?, etc

0
0
bullwhip29

The City of Burnaby’s billion-dollar investment fund saw “great growth” last year, earning another $223 million in 2017. According to Noreen Kassam, the city’s director of finance, the increase is largely due to the construction boom in Burnaby, specifically the density bonus money the city has received from developers.
http://www.burnabynow.com/news/billion-dollar-fund-growing-in-burnaby-1.23153338

0
0
Yikes

yet Burnaby raises property taxes 4% a year while allowing renters to be kicked out of their suites to replace with condos for offshore speculators.

0
0
YVR

Derek Corrigan and Burnaby council is run by the NDP-affiliated Burnaby Citizens Association. Expect similar province wide.

Murray Martin, a member of ACORN Burnaby, a housing advocacy group, said he’s also a member of the BCA and suggested council and Mayor Derek Corrigan are only interested in representing developers, unions and property owners.

http://www.burnabynow.com/news/has-the-burnaby-citizens-association-lost-its-way-1.2261792

0
0
southseacompany

“Why young people who can afford it are choosing not to buy homes in Calgary”, CBC

http://www.cbc.ca/news/canada/calgary/calgary-rent-vs-buy-road-ahead-1.4490332

“Rent is cheap, interest rates are rising and some see better investments with less risk”

0
0
Best place on meth

Plus, they spend all their money on tattoos, beard trims, Tide pods and coffee.

So….no down payment.

0
0
Road Warrior

You forgot avocado toast in your list

0
0