Well obviously it’s time to rollover the topic. What do you want to talk about?
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Foreign buyers’ influence on Toronto and Vancouver housing markets is rising: report
Mortgage data from Canada’s five largest banks suggests a rising influence on housing markets by foreign buyers – many of them young people funded by their parents.
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“In Toronto and Vancouver, non-permanent residents represented nearly 10 per cent of buyers under the age of 25 who were issued mortgages in 2016, suggesting some “may be receiving parental support,” according to a report from the Canada Mortgage and Housing Agency.”
“The study — which defined non-permanent residents as international students, foreign workers, in-land refugee claimants and others – found the proportion of mortgages held by non–residents also increased between 2014 and 2016.”
Note that the definition of non-resident excludes millionaire migrants (and their families) who came through the infamous investors’ immigritation program (still operational in Quebec), nor does it include situations in which properties were bought with no lien or through numbered companies. This is clearly just the tip of the iceberg.
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BTW, the QIP has tightened up on the ability to “trampoline” into other provinces. So, try another angle.
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Link? Details? I am curious to lear more.
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No need for links.
AIDS Jr. is using the Oracle method.
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Ha ha! You’re both the know-it-alls here; get your own “links”.
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Ok, I see. You claimed something without proof or evidence.
I thought so.
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“Figure it out” says the lying twat.
That’s so oracle.
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Fuck off. I have proof in spades. More than you’ll ever cough up with all the BS you post 24/7.
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Yada Yada Yada…..
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They’re no longer allowed to cross their fingers when they promise not to leave the province.
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Those are foreign locals. Must be locals, although of the certain background but “LOCALS” for sure, check stats. Right…
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More of your BS. That is old “News” from 2016. Things are “quite different now”, you idiot. Even that tiresome Andy Yan must be getting tired of his full-of-holes studies keep getting dragged into the limelight by his RE shill pals at Postmedia.
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He doesn’t even read the stuff he copy pastes, let alone know how to interpret it.
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Is earth getting any flatter ?
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“There are no American infidels in Baghdad. Never!”
~ Baghdad Bob, March 2003 ~
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I suppose this would be an opportune time to remind you that the flat earthers are those who deny the wealth of evidence that refutes their world view. You know, like you do, ignoring every fucking piece of data whilst grasping onto unreliable sources that you like the sound of.
You must be forgetful, because I’ve told you this at least a dozen times now.
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“those who deny the wealth of evidence that refutes their world view”
Yep!
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Sure, if your idea of “evidence” is a Douglas Todd opinion piece masquerading as news or the fact you saw an Asian-looking dude driving a McLaren once. I’ll stick with consistent reliable official sources, thanks. You should probably stick with those rancid opinions of yours that you’d never dare voice in public.
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“the fact you saw an Asian-looking dude driving a McLaren once”
I was going to point out the straw man, but then remembered the wise words of our dear leader.
It should be STRAW PERSON.
More inclusive that way.
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You rely on anecdotes and not data. So it wasn’t a strawman FYI.
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“is a Douglas Todd opinion piece masquerading as news”
They are not “masquerading as news”, they have “opinion” right in the URL. Everyone is entitled to their own opinion, but not their own facts.
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They’re headline articles on the Sun website. Would they be front page of the print edition? Answer: no.
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You really crack me up with your view that Chinese money does not matter in Vancouver. You have the guts to even put it in writing. Brilliant! Canno make this stuff up!
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“You have the guts to even put it in writing.”
Why not? There is no penalty to be paid for lying.
If there was, AIDS and the rest of the HAM deniers as well as our political leaders would scatter into the sewers never to be seen again.
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Dumbass, that’s what the data says. Thanks for proving my point.
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“Foreign buyers’ influence on Toronto and Vancouver housing markets is rising: report”
Good thing you elected the NDP to fix the housing market. Welcome newcomers!
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In your opinion, please provide a list of measures the Liberal party would have implemented to cool off housing had they re-gained power as you had wished…
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If allowed back in power the Liberal party would do the following within 6 months:
1.repeal the party financing and campaign financing rules.
2. Introduce legislation to “increase supply” by giving tax rebates and other inducements to first time buyers, introducing even more incentives to buy and run prices higher.
3. Remove all checks and controls on gambling venues, to incentivize their use by millionaire money launderers from China.
These are realistically the things they would do. You can bank your money on it.
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Not 6 months, 6 days.
#1 will take 6 hours, Rennie will be first in line with his cheque book.
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Nobody knows what the Liberals would have done but we do know it could not have been worse than what the NDP have done. The Liberals at least implemented the foreign buyers tax. The NDP have done nothing other than lie and then go to China to beg for more investment. Prices have accelerated under the NDP and now we have them sitting on the sidelines as the BC credit union regulator which has made the new stress test rules irrelevant. What a disgrace the NDP are.
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Political financing reform.
ICBC reform.
Peter German inquiry into money laundering, with upcoming reform.
Rent loopholes reform.
……let’s see what the next six months bring.
The BC Libs were in power 16 years: if you ploy house prices over that period you get a straight line up to the sky. And whenever someone from UBC or SFU argued that money from Asia was driving the market, the BC Libs would immediately raise the issue of race. Corrupt to the core.
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“And whenever someone from UBC or SFU argued that money from Asia was driving the market, the BC Libs would immediately raise the issue of race.”
As did Gregor Bethune Qu, and his sidekick Comrade Jang.
So many traitors have sold us out.
So many of our leaders should be swinging from lamp posts.
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The amounts of money involved were and continue to be enormous. Billions of dollars have washed up on our shores from China for the past 10 years. People who cashed out are fantastically rich. The rest are screwed.
Until we put a stop to the money flows and make them pay taxes, the mainlanders will keep using homes as safe deposit boxes.
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I am talking about today, not yesterday. I can’t imagine you fools running a business. You would focus on employees who no longer work for you and ignore the current employees who are not doing their job and ripping your business off.
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If you have a job you have profited directly or indirectly from the economic impact of illicit capital inflows.
If your take home is 50k/year, in 16 years you have earned 800k cash and you owe a part of that to the fact that our economy was incredibly strong despite no discernible industry or normal economic engine.
Give up the sour grapes. We all benefited; just some more than others.
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“And whenever someone from UBC or SFU argued that money from Asia was driving the market, the BC Libs would immediately raise the issue of race.”
Newcomers are welcome and strengthen our province – Carol James
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ICBC reform. LOL. They cut payout benefits but not starting until Spring 2019. That is Eby’s answer to the ‘dumpster fire’? What a fool. A 5 year old could have come up with a better plan.
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“Nobody knows what the Liberals would have done”
You mean they can’t be trusted? They did say what they would do in their campaign platform and in their “clone speech” – which agree fairly closely on housing, as neither proposed doing much of anything. Here’s their big housing commitment from the “clone speech”:
The government says it will commit to working with the private sector to build 50,000 new housing units over 10 years for a new rent-to-own program. The program will allow renters to “grow equity through their monthly rent payments” until they are about to own the home.
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Was the foreign buyers tax in the Liberals previous platform?
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Sounds like you’d be in favour of a province wide 30% tax? Yes or no?
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The NDP comrades backstab each other. It’s too fun to watch.
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It’s the genetic programming..
Commies often have at least (2) c amps….
(i) military conquest
or
(ii) conquest via subversion from within.
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It is even funnier when you use term “comrades” in a sarcastic way.
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New
269
Price Change
34
Sold
115
TI:7679
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Horgan has started a trade war. Should people have expected different from electing a Keg waiter to the highest office in BC?
Alberta government boycotts B.C. wine
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No Problem here…
Horgan’s job at KEG is safe
He can offer diners 10W30 oil…5W30..etc.
……maybe a lube job ( redundant )
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He didn’t start it, the redneck did.
In Alberta, even the NDP are cowboys.
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World has changed BPOM.
Al I want is housing action and the rest can be privatized (health, education, senior homes, icbc, etc).
After the NDP (in) action of the last 9 months, I’m hardcore going Liberal now. Welcome to a meaner world.
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You were always hardcore liberal.
This is part of your act.
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Horgan started it and it will be just another nail in the coffin of the NDP. He can’t win this. He is just plain dumb. Lets hope his tiny brain is smart enough not to go up against Trump. He was already throwing insults towards Trump so it may be too late. BC doesn’t have much of an economy outside housing but Horgan seems intent on destroying what we do have while pumping housing.
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“Lets hope his tiny brain is smart enough not to go up against Trump.” Are you talking about this sort of thing?
Ms. Clark announced her desire to target thermal coal exports, the majority of which comes from the United States, as part of the province’s response to the U.S. decision to impose tariffs on Canadian softwood lumber. She first asked Ottawa to ban exports but then said a re-elected BC Liberal government would impose a tax on thermal coal from B.C. ports if the federal government did not act.
Christy Clark to target thermal coal exports regardless of U.S. softwood dispute outcome
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Nope, by making really dumb comments like this:
“We should not be deterred by the man with the Twitter account in Washington, D.C.,” Horgan said.
Only a Keg waiter would be so dumb.
http://www.princegeorgecitizen.com/news/local-news/enemy-in-the-midst-1.23147708
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It was notley that started it.
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At least BC female politicians are better eye candy than rest of Turdeauland.
Notley could be in a Tarantino movie……
*****NOT SEXIST!!!!****I am sure Notley could pull a plough !!!
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It must aggravate the Albertans to be unable to buy out the BC government the way they used to with Christy Clark and her million-dollar Murray Edwards fundraisers.
Alberta is welcome to stop buying our wine, though — the main result of that ought to be lower prices for local wine drinkers here in BC. And hey, aren’t most of BC’s wineries in the Liberal strongholds of the Okanagan? Might not the perfect target for pressuring the NDP.
For the next salvo, maybe Notley can encourage all those Alberta refugees to sell their Kelowna real estate and help get the crash rolling in the interior.
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Oh yes, repatriate money back to Alberta. They can build jumbo jet to fly the bitumen to the Pacific.
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We’re going to war with Alberta! Woooo!
Fuck those North Texas assholes.
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What next? Bc Ndpers quit eating Alberta beef? But no worry, Horgan knows Notley many years, they are still friends.
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All show.
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Alberta could shut the gas and oil pipelines that take northern B.C. product. Now that would be a hardball move.
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And guys, I know many of us could be on different sites (like Reddit) and bitch there but we all come back here. We ‘hate’ each other but also ‘like’ each others company here.
On a more serious note, most here have a interest in seeing major housing action. Can we list these people me included so not to fight amongst ourselves.
Divided we fall.
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And also, let’s not attacks people of different races. An Asian, White Guy, black guy, Indian born and raised in canada all have similar values and get along great.
It’s the people coming from overseas that are trying to bring their backward cultures here that you should attack. And it’s the politicians that are making the policies of open immigration.
And then you have the white SJWarriors backing them up.
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Nobody is attacking anyone’s race.
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Maybe the translation is lost when putting thoughts into words when the topic is emotionally charged.
All good. You’ve made it clear.
Write or email the NDP (and Weaver) over this week. Let’s get some change and reevaluate after the budget.
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Funniest thing you’ve ever said.
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STFU clown.
Can we get someone to get this assholes IP address?
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It’s ” IP SQUATTING_DOWN.com”
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Creep.
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It’s culture not race,
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Hence the racial slurs? Moron.
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Vancouverites set to take to the streets demanding action on housing, crackdown on lawbreaking in real estate
The first Rally for Affordable Housing Action by the umbrella group Affordability Action Hub is scheduled for Sunday, February 18 ‒ two days before Premier John Horgan and Finance Minister Carole James will unveil the much anticipated budget.
“Unregulated global capital and widespread real estate speculation have driven up housing prices and driven out long-time residents,” the organizers wrote on the event’s Facebook page. “Empty houses dot our landscapes while homelessness levels continue to climb. Whistleblowers pointing to corruption emerge almost daily.”
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Anyone who is going to the rally, please consider dragging a New Coast realtor behind your car on the way there.
They’re to be used as examples/props.
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“Vancouverites set to take to the streets”
Probably 90% NDP voters who still are clinging to hope the NDP will keep their election promises. I am actually starting to feel sorry for these naive fools. At least we know it will be the last time they vote NDP.
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Yeah NDP done. They are trying to pocket as much money as they can right now. That’s why everything seems like status quo.
They threaten change unless their lobbyists are paid.
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7000 empty homes in the whole city out of over 200000, the UBC and SFU guys made the big fuss about it.
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Too many comments all right. If Just Me stop stealing the newspapers’ articles and makes her own, this blog would save lot of space.
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Who’s ashamed to be Canadian?
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Fuck off. If that’s all it takes for you, emigrate.
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How do you type with such limp wrists?
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Much more easily than being without a brain like you are.
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Such a loser. Trudeau, Horgan, Wynne. What an embarrassment Canada is.
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“How dare you kill off mankind, Mr Trudeau, you spineless virtue-signalling excuse for a feminist”
http://www.dailymail.co.uk/news/article-5358761/PIERS-MORGAN-dare-kill-mankind-Mr-Trudeau.html
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“Trudeau’s gaffes are no joke”
This pretty much sums up what complete fool this guy is. Now NDP voters hold your hands up which ones voted for this tool.
http://torontosun.com/opinion/editorials/editorial-trudeaus-gaffes-are-no-joke
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Not me. The Americans have it worse.
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Holly shit, aren’t you endlessly obtuse? I assume you did read the article but haven’t understood it.
“Here’s what Trudeau said when asked about his government’s troubled relationship with many of Canada’s veterans: “Why are we still fighting against certain veterans groups in court? Because they’re asking for more than we’re able to give right now.”
That’s right. We’re able to give Omar Khadr $10.5 million and throw hundreds of millions into feel good green energy projects, but we’re not “able” to give veterans more.”
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You bears like picking out the nitty gritty things and make it a mole hills. There is always issues and problem in this country, like every others. But, I am still a proud Canadian and there is nothing to be ashamed of. Whine and bitch are what your bears do best.
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He obviously doesn’t care about veterans since he’s flushing down the toilet everything they fought for.
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What a moron. Wonder if he mentions anything like that when he meets with the Chinese in China.
Trying to keep up to date on his marching orders are getting harder.
Trump gonna hand Justine his ass when Nafta talks conclude.
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Aussie bogan fights police officers at Singapore Changi Airport
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Alberta vs BC all show.
Someone get me a name of Notleys secretary.
Then get me a name of Horgans former secretary.
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The BC Liberals sold gobs of land for $493M. Three years later, they were worth $860M
https://globalnews.ca/news/3999585/bc-liberal-asset-sale/
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the potential revenues that the bc libs have pissed away over the years with these land giveaways to their financial supporters is sickening and staggering. meanwhile they take the low road and raid icbc and drive that into the ground which will cost all bc drivers a fortune to recover. what total and complete failures and mismanagement the bc liberals were.
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I suspect these were not just blunders. They have orchestrated transactions that made some insiders fairly rich.
Vancouver is a strange city: all prim and proper on the outside, but effectively corrupt on the inside. The corruption we have is the white collar and high-end type. But it is pervasive, permeates all sectors and is best seen in the behavior of landowners and homeowners, who will condone 16 years of BC Libs malfeasance in the pursuit of home value appreciation.
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Look what the BC NDP are set to announce today. They are giving landlords and AirBnb close half a Billion to solve the housing crisis.
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The media always talks hindsight, and bears like to quote it. In 2014, did any of you foresee the run up of SFH in 2016, and condos in 2017? In 2014, did any of you foresee the market where we are now?
You all have crystal balls, but it’s cracked “predicting” the past only, not the future.
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Wait, didn’t bears call for a RE collapse? Shouldn’t gov’t taking bear advice of Sell Now or Be Priced In FOREVER(tm) be applauded?
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You’ve never seen driving like this before… on this side of the pacific anyway.
Crazy drivers in Richmond BC
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Driving multiculturalism?
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this is par for the course in china (and elsewhere) where traffic signals and signs are deemed a suggestion only and if a clearing should present itself, you are free to motor ahead. there is also another rule of thumb that pertains to the yielding of a lesser vehicle to a more expensive vehicle regardless of whether or not the light is green or you are even in the correct traffic lane
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BS. I have been to China several times. You?
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How about India…
……which bridge do you take…Patullo or Port Mann?
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are you the one at the 2:00 mark in this video?
https://www.youtube.com/watch?v=YQLLNSEeGaE
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No, you numbskull. That was you, remember?
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actually i was the one driving but i claimed that i didn’t remember…
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Can bears even point out China on a map?
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Why would anyone want to point to that locust infested shithole?
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Wow. Never in a million years did I think the NDP would bring in this as the primary policy for housing. It has a special announcement.
AirBnB is going to get money from government to provide suites for people. List a dump on airBnB and profit off taxpayers. Unbelievable.
This gov has got to go. They could have announced a million other things. But this??
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And the real story? AirBnB has agreed to collect provincial and municipal taxes.
http://www.cbc.ca/news/canada/british-columbia/airbnb-vancouver-bc-1.4524284
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In other words the NDP have legalized AirBnb province wide. Not good for housing for people who live here.
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The BCLibs would have let it all go under the table with no tax revenue or benefit to the general public.
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So if they can collect a few million who cares about 10s of thousands of displaced renters, higher rents and higher RE prices? You are so partisan you can’t see straight.
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“You are so partisan you can’t see straight.” LOL
Pot, meet kettle. Wow.
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“In other words the NDP have legalized AirBnb province wide. ”
Second lie on the same topic in the same thread. Government levying a tax on something doesn’t make it legal. That’s a fundamental principle of tax law.
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It gives the green light and encourages it. What illegal activity does the government tax? Why don’t they tax illegal drugs, prostitution or bribes? You are such a shill.
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” What illegal activity does the government tax? ”
Liquor is taxed. Is is legal to sell set up a bar in your house? Is is legal to drink liquor in a park? How come?
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Your idiocy never ceases to amaze me, Oracle.
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Great observation, you limp wristed retard.
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what an embarrassment this guy is to canada…
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Turdeau is simply a chip off the old block Pierre. Old man did nothjng but actively create friction and tension inside Canada….. goal was the use of typical Communist tactics to conquer from within.
Duly note Pierre retired in early 1980’s..about the time the foreign locusts began to swarm through the borders.
By the time Justin is done…even if he’s a one term wonder…the damage will be irreparable.
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http://www.news1130.com/2018/02/07/airbnb-begin-collecting-pst/
so the province gets some additional tax revenue but this doesn’t fix the problem that these suites are still illegal in many cases and take away from long term rental stock and these illegal suites screw over the hotel industry.
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It’s the job of municipalities to specify what activities can take place in what properties (i.e. zoning) and enforce this.
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By accepting the tax they are essentially saying these illegal AirBnbs are okay. This is no different than looking the other way on money laundering through the casinos (like the NDP continue to do). The NDP will look the other way if the NDP get their cut. Who cares if rentals for locals are at historic lows and condo prices are going parabolic. The NDP just gave their voters another kick in the balls.
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“By accepting the tax they are essentially saying these illegal AirBnbs are okay.”
Exact opposite. AirBnB will now be reporting ALL rentals to the government which will enable municipalities to identify and crack down on unauthorized rentals. As well the information can be passed on to CRA.
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Liar. AirBnb just collects the tax on the transaction and remits the tax as a lump sum like any business does.
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That information is incorrect.
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AirBnB should be banned..it competes with businesses currently zoned for Hotel etc.
Seems like Vision and NDP have no backbone..but capitulate ( aka bend over) with the ” 30 pieces of silver” via tax revenue.
Even worse..the NDP and Vision missed a key strategy in their affordable housing strategy….not banning Air BnB but in fact partnering with it and effectively being sell outs and hypocrites.
Suckers…..
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AirBnB is ok if used as it was originally intended, to rent out a room in your primary residence.
The greedy fucks in this city went hog wild renting out entire houses and apartments, in some cases even bunches of apartments within the same building.
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Ask VancouverWatch out for Hit & Run Scammer prowling around shopping mall parking lots
https://www.reddit.com/r/vancouver/comments/7vylw3/watch_out_for_hit_run_scammer_prowling_around/
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i guess this is another reason why richmondites tend to reverse park all the time. i previously thought it was done to make the exit less trecherous and naturally for some hotshots, to demonstrate their “skills” they have developed as a result of years of video game play
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this is very common scam in china look on youtube there is lots of video on this type of scam. sounds like these scammers have imported their skills to canada.
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Hmm, cunning Norwegians…
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http://torontosun.com/news/national/apology-tour-do-you-believe-pms-peoplekind-excuse
trudeau claims it was all just a joke …
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His leadership?
Yes, it’s a pathetic joke.
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Bank of America keen on packaging riskier Canadian mortgages into bonds
http://business.financialpost.com/real-estate/bank-of-america-keen-on-uninsured-canadian-mortgages
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They’ll eventually package mortgage and bonds into Crypto currency, then the govt releases trading restrictions. This is really the design behind secret currency.
Instead of general hyperinflation appearing in the public, it’ll be dumped into Crypto. and it moves to 100,000.. dont laugh..
It’skilled and we start over.
This is a well developed theory postilulated by Dr D over at theautomaticearth.com
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The battle to clean up B.C
Terry Glavin on the efforts to undo a decade of indifference that turned Vancouver into an epicentre of fraud, scams and real estate mania
http://www.macleans.ca/news/canada/the-battle-to-clean-up-b-c/
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Good luck. BC lost its moral authority when it caved to the Secret marijuana lobby 30 years ago.
The industry operated in tandem and under the same energy pricipals that created the indifference that lead to the massive inequality.
Congrats fascists
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You should know. You obviously smoke enough.
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How do you feel about Vancouver in 2018? This is the honest truth about how I, and many others, feel. Straight out of this good article, I could not have worded it any more clearly:
“Vancouver is now a kind of free trade zone for gangland money launderers, absentee offshore real-estate speculators, Chinese princelings on the lam and globe-trotting tax frauds. Metro Vancouver is an international housing-affordability basket case and the epicentre of Canada’s fentanyl overdose crisis. Over the past decade, homelessness has doubled, at least 4,000 people are sleeping rough in the streets, and there are now 70 homeless camps across the region.”
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Christy Clark’s six-year tenure as the Liberal Party premier ended under a cloud of RCMP investigations… A trove of incriminating paper trails only now coming to light shows Clark’s Liberals knew very well what was happening. For now, the job of sorting everything out has fallen mostly to David Eby, B.C.’s 41-year-old Justice Minister and Attorney-General. Two months ago, in a speech at a conference co-hosted by Transparency International Canada and the International Centre for Criminal Law Reform, Eby described Vancouver and British Columbia in the most accurately unflattering terms. “We knew there was something strange going on, but, my God, we had no idea it was this big,” Eby said. British Columbia had become reduced to “a jurisdiction where the rules do not apply to white collar crime, fraud, tax evasion and money laundering, where even if the rules… Read more »
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“We knew there was something strange going on, but, my God, we had no idea it was this big,”
Sure thing, whatever coming from China is BIG.
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“Among the beneficiaries of the previous Liberal government’s opaque “Advantage B.C.” head-office tax shelter scheme: PacNet, a collection agency the U.S. Treasury Department had listed as a transnational criminal organization with a sordid track record in money laundering and mail fraud, and China Poly Group, a shady Chinese state-owned enterprise with a payroll of 76,000, intimate ties to the People’s Liberation Army, and a portfolio that ranges from real estate development to arms and explosives and art exhibits. Advantage B.C. is now shuttered.”
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“Among the sleazier aspects of the Liberal legacy was a peculiar toleration for dirty money being laundering through B.C.’s licensed casinos. Provincial officials were aware of the nastiness as far back as 2009. In January of that year, the Integrated Illegal Gaming Enforcement Team (IIGET) conducted a threat assessment focusing on organized crime in licensed casinos and asked the Crown-owned B.C. Lottery Corporation for expanded powers to tackle the problem. Six months later, the IIGET unit was disbanded because of “funding pressure.”
Last September, Eby appointed former RCMP deputy commissioner Peter German, an authority on money laundering, to come up with a series of recommendations on how to cut the flood of dirty money into B.C.’s casinos, Metro Vancouver’s overheated real estate market and “other areas of B.C.’s economy.” German’s report is due next month.”
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“In the meantime, Eby has instituted a simple rule change aimed at preventing drug money from being loaned out by underground “banks” to visiting high-stakes gamblers. The change was recommended to the Liberal government in 2016 in a report by MNP LLP, a national accounting, tax and consulting firm. The Liberal government kept the report secret. Among its findings: over the course of a single month—July 2015—Richmond’s River Rock Casino accepted $13.5 million in $20 bills from mostly “high roller Asian VIP clients,” in transactions that sometimes exceeded $500,000. The MNP LLP rule change that the Liberals ignored, but which Eby has put in place: You will no longer be able to drive your Lamborghini from your $10 million Point Grey mansion across the Oak Street Bridge to Richmond, stroll into the government-licensed River RockCasino and buy your chips with… Read more »
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“Another change the NDP has brought in will have a lasting impact on the way money sloshes around B.C. provincial and municipal politics. In 2015, River Rock’s parent company, Great Canadian Gaming Corporation, donated $31,468 to Christy Clark’s Liberals. River Rock donated $3,300, and Gateway Casinos pitched in with $67,397. Those days are over. Last October, the NDP brought in new rules banning corporate and union money in provincial and municipal politics.”
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How do I feel? I think you should fuck off.
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Thanks NDP! Nice work.
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This is a word of warning, right out of the McLean’s article linked above:
“…it’s not at all clear just how far Eby will be allowed to go in his determination to clean house. For one thing, he’ll have to avoid making enemies of certain of his fellow New Democrats who did quite well for themselves in Vancouver’s civic politics and in their own real estate investments. He’ll have to watch his back. But the New Democrats are going to have to do something pretty dramatic.”
The question could be rephrased as follows: are the NDP going to commit political suicide by putting in place housing measures devoid of any real bite?
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“Andy Yan, an urban analyst with Simon Fraser University’s city program, has been tracking the deterioration in Metro Vancouver’s housing affordability for several years. In 2014, 28 per cent of detached homes in Metro Vancouver were valued in excess of $1 million. In 2016, the percentage had jumped to 43 per cent. As of July 1 last year, 73 per cent of detached houses in Metro Vancouver were assessed at $1 million or more. The 15-per-cent foreign-buyers’ tax imposed by the B.C. government in 2016 as a sop to public outrage caused only a slight pause. Within weeks, the upward climb in house prices resumed.”
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Yan is the idiot who said “non-anglicized” Chinese names popped up all over the place on Vancouver house titles. What about the name”Yan”? Was that added in the count, too?
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Are you trying to be funny or you are just an idiot by default?
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Andy Yan’s study was looking for property owners whose names were entirely devoid of anglicized, His first name being Andy, would exclude him from that list.
The method is not scientific (think local news reporter Mi Jung Li), but I think it yields some insight we can’t just laugh off.
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“Back in 2011, when the average price of a Vancouver home was roughly 11 times the average household income, Mark Carney, who was the Governor of the Bank of Canada at the time, warned in a speech to the Vancouver Board of Trade that Vancouver real estate was taking on characteristics of financial asset markets that become trapped in “the classic market emotions of greed and fear—greed among speculators and investors—and fear among households that getting a foot on the property ladder is a now-or-never proposition.”
The greed and the fear took hold, compounded by a real estate spending spree of billions of dollars’ worth of capital spirited out of China by a variety of illegal, semi-legal and circuitous routes around Beijing’s currency controls.”
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“The disastrous federal immigrant investor program contributed to this state of affairs by effectively selling Canadian citizenship to millionaire investors, mostly from China. The federal program was shuttered after assessments determined that the millionaires were contributing less to the federal treasury in tax returns than refugees. But the Quebec immigrant investor program continues in the form of a type of racket. Quebec skims an $800,000 interest-free loan from the investors as soon as they arrive. Most of them never settle in Quebec. Roughly half of the Quebec immigrant investors (28,000) have moved to Metro Vancouver, another 22,000 established residence in Ontario and elsewhere. Only 6,000 have stayed in Quebec.”
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“A South China Morning Post analysis last December concluded that only about half of the primary breadwinners of immigrant-investor households remain in Canada after they settle their spouses and children here.
Meanwhile, detached houses and condominiums in Vancouver have become assets in a shadowlands protected by Canada’s lax money control policies. The British-registered charity Tax Justice Network, in its most recent Financial Secrecy Index, pegs Canada’s financial system as even less transparent than the setup in Russia or China.”
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Can you just post the link with maybe a sentence or two. Why cut and past the full article every time?
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Yup
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Just another sensational slush piece citing so-called “experts” like Andy Yan and probably that insufferable Ian Young, etc.
There is not an ounce of “proof” in any of this piece; it’s mostly all hearsay and speculation. However, because it made it into print, it will be treated as the gospel truth by the usual numbskulls on this site. Especially you, “Just me”.
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Metaphysically speaking..no proof thou exists either….simply an abberration via some rogue computer algorithm..unlike the rest of us.
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are the NDP going to commit political suicide by putting in place housing measures devoid of any real bite?
The NDP are going to do nothing that will lower prices. The AirBnb announcement today, ignoring the stress test rules for credit union mortgages, on top of not doing any of their actual promises and not even committing to any of them. You should have gotten the hint when Eby was made AG and Selina was appointed housing minister.
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Nothing happening in 12 days. The big announcement was made today.
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Weird. As Reality Check, you said (and I quote), “So this year, I am taking my New Year’s resolution early: Stop reading all the internet crap about “the end of the world” and get back to living life as before. Nobody can predict the future. Buy a house whenever you can afford it, if you need one, the crash might not ever come. Happy holidays and adieu!” Nobody can predict the future. Pearls Oracle. Pearls… oh wait… “Nothing happening in 12 days” Liar AND whatever it is when a person says one thing and does another.. oh yeah. Hypocrite. I can predict that, if proven wrong after the budget, you’ll weasel your way out of it some how – perhaps deny predictions or comments, or leave as Oracle and come back as Romeo Jordan, Reality Check, China One or some… Read more »
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Oracle has been wrong many times, he usually moves goal posts by bringing up another prediction about how there will be loopholes or nothing will come of the announcements.
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I’m just thankful he works so hard to share his vast knowledge on this site. It’s such a thankless job and you guys make it even harder for him. Booo!
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Die Commie bastards….. DYE !!!!!
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“Something is clearly rotten in Metro Vancouver’s property market. Household incomes reported to the Canada Revenue Agency in Metro Vancouver’s swankiest neighbourhoods are equivalent to incomes reported in the deeply impoverished Downtown Eastside. The disconnect between declared income and apparent housing wealth persists across Metro Vancouver “until you get out to the distant suburbs,” Eby says.”
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“Two years ago, when the average detached home price within Vancouver city limits had soared to $1.4 million, the South China Morning Post crunched some numbers tallied up by the mathematician Jens von Bergmann at the Vancouver data firm MountainMath Software. What the data showed was that one in 10 Vancouver households were reporting a household income that was less than the amount required just for property taxes, mortgage payments, utilities and so on. That’s 24,960 households claiming to earn less in a year than they were spending on accommodation.”
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“It’s gotten so that it is practically impossible to determine how much of Metro Vancouver’s real estate is owned by Canadians, or even by local residents. A recent Transparency International study found that because of the presence of shell companies, numbered companies, trusts and proxy owners (students, spouses) listed as title holders, it is impossible to know who, exactly, owns about half of Vancouver’s pricier homes. Last month, Statistics Canada released data showing that roughly five per cent of residential properties in Metro Vancouver appear to be directly foreign owned, but that figure may reflect only “the tip of the iceberg,” according to Haig McCarrell, director of StatsCan’s Canadian Housing Statistics Program. SFU’s Andy Yan crunched StatsCan’s numbers to discover that one in five of Metro Vancouver condos valued at $1.5 million or more (a typical three-bedroom condo lists at… Read more »
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“Whatever B.C.’s new government does, deflating Metro Vancouver’s obscenely bloated real estate bubble should be expected to provoke stiff, big-money resistance. Vancouver’s real estate “bubble risk” is the worst in the world, according to the Global Real Estate Bubble Index compiled by the Swiss bank UBS. But at some point, Metro Vancouver’s property bubble is just going to have to burst.
And when that happens, there will be hell to pay.”
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You have too much time on your hands doing cut and paste. Why don’t you use the time collecting cans to earn some extra income. Get a life, really.
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We all know what the problem is and how it came about. What are we going to do about it? That’s the question. Enough with all the analysis that’s been beaten to death!
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No guts to get all that laundered shit confiscated and garbage deported. The true legislation would know what to do with all that fuckup, it’s not complicated at all but our gutless clowns decided to sold and send Canada down to shitter.
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Just the lower mainland. GTA brought in housing action.
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We need those camps more than ever now.
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Start by saying your taxes. Pay cash and demand no PSt/GST. Get into an all cash field. Otherwise you will be left behind.
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Speechless….absolutely speechless….
Next time you take a blood test, or let someone from India poke you with a needle…just stop and think!
Fake doctor suspected of infecting at least 33 people with HIV
https://www.cnn.com/2018/02/07/health/india-fake-doctor-spreads-hiv-infections-intl/index.html
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Oh by golly gosh.
…..I thought this was the standard for this 3rd world sh*itehole!
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Patients at B.C. acupuncture clinic warned to get HIV testing
https://bc.ctvnews.ca/patients-at-b-c-acupuncture-clinic-warned-to-get-hiv-testing-1.2112462
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Just Me certainly likes to spam and talk to himself.
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It’s called astroturfing. At least 500 of the comments on the previous topic were his.
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It’s repetitive and maybe mildly annoying, but it ain’t astroturfing. https://en.wikipedia.org/wiki/Astroturfing
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The dumb shit HAM denier doesn’t know what racist means either.
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I can admit my mistakes. It’s not astroturfing, thanks for corrrecting me specuskeptic.
I’ll not hold my breath for you ever to accept that you were wrong about anything, though. You lack the prerequisite class and intelligence.
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What have I been wrong about?
Election results in Canada and the US?
Oh…shit….that was you.
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Tell me you’re joking.
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That’s not an answer you fucking twat.
Figures you were lying, as usual.
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Does Just Me have a shred of original thought?
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ZERO. He’s the biggest paid shill on this site. That idiot, Oracle and that puke BPOM aren’t far behind.
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If I were a betting dude, I’d bet against BPOM being an RE shill. Call it a hunch…
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Time to cue the video of foreign locusts burning the dog……again !!!