City following up on declarations for empty home tax

It looks like the city is serious about the empty home tax, at least one commenter here has received notice of an audit.

Well it seems the City is following up on the declarations made for its Empty Home Tax.

We were just notified that we are being audited for declaring our home as occupied as a principal residence. Interesting, since we’ve been in the same location for many years, and there are many empty homes in our area. You’d think the City would look at the homes that have changed hands more recently, since these are the ones that are left empty!

 

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Just me
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Just me

Soaring U.S. Libor Rate Trickles Into Funding Markets Worldwide

https://www.bloomberg.com/news/articles/2018-03-20/soaring-u-s-libor-rate-trickles-into-funding-markets-worldwide

“From Riyadh to Sydney, short-term funding markets worldwide are starting to feel the effects of soaring U.S. dollar Libor rates.”

Just me
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Just me

U.S. Mortgage Refinancing Drops to Nine-Year Low as Rates Rise

https://www.bloomberg.com/news/articles/2018-03-21/u-s-mortgage-refinancing-drops-to-nine-year-low-as-rates-rise

Poloz where are you?

Whistler or Bust?
Guest
Whistler or Bust?

Keep arresting them until we run out of jails then build containers. If you are so passionate about your cause you should be prepared to accept the consequences of breaking the law.

Another dozen arrested at Trans Mountain expansion protest http://vancouversun.com/news/local-news/another-dozen-arrested-at-trans-mountain-expansion-protest

YVR
Guest
YVR

Anyone wonder why there is so much squawking about Trump taking the boots to China?

China Used Business Deals to Influence Families of Mitch McConnell, Joe Biden

https://www.wsj.com/articles/author-alleges-china-used-business-deals-to-influence-families-of-mitch-mcconnell-joe-biden-1521141489

Hyper-mega-Bull
Member
Hyper-mega-Bull

american elites are waking up to the threat. canada will soon follow. it will be spy-vs-spy on alberni street. do intelligence agency safe houses have to pay the empty home tax?

Doomcouver
Member
Doomcouver

This is a possibility if the trade war intensifies. Trade wars can turn into threats of real war pretty easily. When that happens the government of Canada and the USA won’t be so friendly to Chinese nationals.

Best place on meth
Member
Best place on meth

We’re gonna need camps.

Lots of them. Big ones.

backwardsevolution
Guest
backwardsevolution

Chinese money has been influencing political leaders all over the world for years now, same as U.S., French, British money and (fill in the blank) has been influencing country after country for centuries. Politicians tend to go into government poor and come out rich. Any politician taking money should be behind bars.

Trump will take the boots to China because China (or should I say the U.S. multinationals who set up shop there for the cheap labor and no environmental controls) has basically enjoyed one-way trade: accept our imports, but we don’t want your exports, resulting in a huge trade deficit.

Can’t run a country like that.

patriotz
Member
Shut It Down Already (original)
Guest
Shut It Down Already (original)

Yes, why not buy property in a country that you might arbitrarily be denied entry to at zero notice? Makes perfect sense.

YVR
Guest
YVR

You mean those ‘immigrants’ swimming the Rio Grande are being denied entry now? Or the the terrorists who want to destroy America and blow up planes and buildings? Lets hope the corrupt Chinese are next. That would be just another step in making America great again.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

You think the citizens of half a dozen countries are terrorist?

Idiot.

YVR
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YVR

Actually Obama named those 6 countries as terrorist nations.

YVR
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YVR

That damn Trump. Making America great again brings in investment from around the world. Trump is making prices rise the proper way. By boosting the economy.

“Trump’s long involvement in the real estate industry gives confidence to the Chinese that the United States will continue to be a good place to invest.”

backwardsevolution
Guest
backwardsevolution

Chinese money is not flooding into the U.S. now.

Best place on meth
Member
Best place on meth

Yet another rate hike from the Fed tomorrow, while Poloz the coward sits on his hands afraid of detonating the massive debt bomb in Canada with a puny 25bp raise.

The leadership in this country is pathetic, incompetent and third world.

YVR
Guest
YVR

To be fair to Poloz the rest in the rest of Canada real estate is tanking. It is only BC where were prices are surging and inventory is ultra low. Coming up to the 1 year NDP anniversary. Any bets on year over year gains for their first year? I say we pass 25% by April.

Just me
Guest
Just me

There is no crash in the rest of Canada. Big slowdown in TO. Calgary threading water. The rest of the country doing OK.
You cannot have growth of 20% every year.

bestplaceonearth
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bestplaceonearth

Only your loud mouth claimed about 20% growth, no one else claimed it. Getting panic with your useless $65k in saving , aren’t you!

Best place on meth
Member
Best place on meth

Any bets on what you think the 1 year NDP anniversary is?

I bet you think it was election day in May.

Lost...but not Leased
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Lost...but not Leased

Feb.31 ?

YVR
Guest
YVR

Call it June, July or even September. Prices will still be up close to a record amount for a BC governments first year in office. That is nothing to be proud of. Meanwhile everywhere else in Canada is tanking. The NDP were gifted B20 and higher rates but chose to exempt credit unions. I doubt we get back to where prices were at prior to them taking office in their term. They are Trudeau part deux.

patriotz
Member

“Meanwhile everywhere else in Canada is tanking…. They are Trudeau part deux.”

If everywhere else in Canada is tanking, who should take the credit for it?

YVR
Guest
YVR

Also note B20 and the BoC are not controlled by Trudeau. Unlike our credit unions in BC which are controlled by the NDP.

kabloona
Member
kabloona

ha-ha! Give your head a shake….

Selective Memory
Guest
Selective Memory

Regulations governing the BC credit unions are unchanged from what they were under the BC Liberals for 16 years.

Oddly enough, Coast Capital is in process of seeking approval to become a federal credit union, which would bring them under OSFI rules, I believe. How does that fit in with your narrative?

YVR
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YVR

“Regulations governing the BC credit unions are unchanged from what they were under the BC Liberals for 16 years.”

Correct and in those 16 years the OSFI regulations aligned with those used for the credit unions. It was not until 2018 under the NDP the credit unions have a more lax lending standard that do not align with OSFI regulations including the new B20. Are you saying this is good policy?

Selective Memory
Guest
Selective Memory

You don’t like the Feds, who tightened the regulations, and you don’t like the NDP, who left them alone. Your opinion of a policy seems to be based entirely on who makes it.

Personally, I would like to see the BC credit unions conform to the new OSFI restrictions. But I don’t find it helpful to pretend the NDP have loosened the existing regulations, which you have been doing constantly.

You say the NDP control the credit unions, and they want to keep the rules loose. Yet Coast Capital, the 2nd largest credit union in BC, is going federal — despite those MLA spouses on its board. Your theory does not fit the facts.

YVR
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YVR

The provincial governments. Have you not been paying attention to Ontario?

Oracle
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Oracle

MLA’s spouses are on the boards at Vancity and Coast Capital.

KaChing!!! $$$

Just me
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Just me

So far the speed of appreciation is a fraction of what it was under the BC Libs. And I am talking about really has value: land (not glass fishbowls in the sky).

All the protests you see about the speculation tax are a sign it has the potential to invert the trends. That’s why entitled homeowners are up in arms.

Whistler or Bust?
Guest
Whistler or Bust?

Union 313 has an opening.

Just me
Guest
Just me

But PolozWilkins get the prize even in this substandard set of public servants and politicians.

Polos calls are just bad calls. Over and over again. To be fair, he was nominated to the job by Harper. Hopefully he will not get a second term. The guy has been a total disaster.

Whistler or Bust?
Guest
Whistler or Bust?

Harper will go down as an excellent prime minister.

I can tell you history will judge him much better than Sunny Boy.

Selective Memory
Guest
Selective Memory

A few of Harper’s excellent policy accomplishments that seem particularly relevant to this forum:

•40-year, 0-down mortgages even as the US real-estate bubble was imploding.
•Doubling of CMHC mortgage insurance, ditto.
•35-year locked in FIPA with China on horribly disadvantageous terms.
•Approval of Chinese SOE takeover of Nexen in the oil sands
•tripling the threshold for government review of corporate takeovers from 295 million to 1 billion.
•expansion of Temporary Foreign Workers == downward pressure on Canadian wages.

YVR
Guest
YVR

Are things better today under Trudeau than they were prior to him taking office? Nope they are worse including housing prices up about 50%.

kabloona
Member
kabloona

In retrospect, we should have unloaded the entire Tar Sands on the gullible Chinese. Government…

😀

BubbleTea
Guest
BubbleTea
Just me
Guest
Just me

An oldie but goodie. Again, good memory. I wonder what happened to the customers of the scam….should have been kicked out of the co7ntry by now.

Just me
Guest
Just me
Best place on meth
Member
Best place on meth

I wonder if the chinese know that everyone hates their fucking guts and trust them as much as they trust drug addicts, or if they’re completely oblivious.

These pathetic attempts at setting up more “Confucius Institutes” seem incredibly stupid.

Bestplaceonearth
Guest
Bestplaceonearth

Not everyone, just you. If it is not for them, people cannot survive. Just ask those customers at the dollar stores.

Just me
Guest
Just me

People go to dollar stores exactly because of the Chinese malfeasance. First, they got all manufacturing jobs ruining many local blue collar workers; then they reinvested the proceeds into western housing markets, making price grow to insane levels and forcing people to spend their meager pay Chequers almost all in housing bills.

Dollar stores do not exist in prosperous societies. Ask yourself why we are not as rosperous as we were 20years ago.

Bestplaceonearth
Guest
Bestplaceonearth

The device you were typing on, where was it made?

Best place on meth
Member
Best place on meth

Who cares which shithole it was “assembled” in by human robots , the important question is where was it invented, designed, came to life?

Why are you so pro china?

Just me
Guest
Just me

There is atwosted way in which people of the PRC are unable to openly criticize it. They know that State is evil, but they are unwilling to admit it.

Best place on meth
Member
Best place on meth

How did people survive before dollar stores? They seemed to do just fine.

Are you saying our society has degenerated so badly that the loss of those shitty dollar stores with their landfill garbage would cause social havoc and distress?

Name
Guest
Name

I read something awhile ago that said Dollarama would be at financial risk if a trade war erupts with China because their supply chain could be interrupted. In other words they would not exist without cheap shit from China.

kabloona
Member
kabloona

The Dollarama stuff isn’t even cheap anymore…..should rename it the ‘Two, Three, or Four Dollar Store”…

Shut It Down Already (original)
Guest
Shut It Down Already (original)

He imported his shitty attitude, unfortunately.

Just me
Guest
Just me

“Chinese companies are taking advantage of America’s financially strapped higher-education system to buy schools, and the latest deal for a classical music conservatory in Princeton, New Jersey, is striking chords of dissonance on campus.

Beijing Kaiwen Education Technology Co. agreed in February to pay $40 million for Westminster Choir College, an affiliate of Rider University that trains students for careers as singers, conductors and music teachers. The announcement came just weeks after the government-controlled Chinese company changed its name from Jiangsu Zhongtai Bridge Steel Structure Co.”

CRA221
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CRA221

Anyone know how you report a suspected empty home? Does the city take leads like the tax department?

West Coast Woman
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West Coast Woman

Call the City at 311, and you can leave a “tip” about an empty home – you just need the address and any info you may have about how long the home has been empty. They will give you a reference number to follow up on it.

Doomcouver
Member
Doomcouver

Report it to the homeless of Vancouver so they can go squat in it.

Bestplaceonearth
Guest
Bestplaceonearth

Call. 1-800-I-SNITCH. Moonbeam loves it.

Lost...but not Leased
Guest
Lost...but not Leased

1-800 SINO BUSTERS

(Note: may be directed to call center in India)

Just me
Guest
Just me

That is a great name. I would certainly report illegal behavior if there was such a line.

Too many decades of freeloading by greedy ho,eowners.

Best place on meth
Member
Best place on meth

Usually a Molotov cocktail hurled through the front window will alert the proper authorities to the home’s vacant status.

xhistory
Guest
xhistory

http://www.chpc.biz/history-readings/persistent-risk
3 month Liber vs overnight Index swaps.

Perhaps we’ll see Brian return, and he can post his own links.

paulb
Member

New
279
Price Change
56
Sold
142
TI:8931

http://www.clivestevepaul.com

Whistler or Bust?
Guest
Whistler or Bust?

Not a crash as much as I’d like one.

Our market is still sadly very strong.

Lost...but not Leased
Guest
Lost...but not Leased

Thanks paulb…

Inventory continues rising…..I’m guessing 10,000 by summer.

Bestplaceonearth
Guest
Bestplaceonearth

Why 10000? It was double that for much less money, and bears priced out already. What are you gonna do if it reaches 12000 or 15000? Nothing, Nada, zip!

Shut It Down Already (original)
Guest
Shut It Down Already (original)

10K in summer would still be ridiculously low. Think 20K+ sustained before we start to see meaningful price reductions.

YVR
Guest
YVR

Funny how that bar has been lowered since the election. Prices up 20% year over year, record surge in condo prices last month and close to record low inventory for this time of year. But there is a 30 point plan!

Best place on meth
Member
Best place on meth

Better be 10K by the end of April or all of these measures are not having much of an effect.

YVR
Guest
YVR

Which measures? B20 has no impact in BC with credit unions being exempt and the 2% speculation tax does not kick in until next year.

Best place on meth
Member
Best place on meth

Do you need me to repost the NDP’s 30 point housing plan again?

“B20 has no impact in BC”.

No impact, you say?

YVR
Guest
YVR

No, you said it:

“Better be 10K by the end of April or all of these measures are not having much of an effect.”

I was just explaining to you why.

Just me
Guest
Just me

You were explaining nothing. Just twisting the truth.
OSFI regulations are very real and have bite, despite your nonsense about credit unions.

Speculation tac has bite, that is why so many people are complaining. They thought it would be some cos,eric little change, like ten BC Libs used to do. After all, homeowners have been spoiled by two decades of policy tailored to make them ever richer. They are not used to pay any sizable taxes.

YVR
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YVR

What is the definition of bite? Record high prices and record low inventory?

Just me
Guest
Just me

You are getting your timing wrong. Plot a graph of detached home prices (land) pve the past three decades, then ask yourself who was in power when the growth was highest.

Christy Clark organized trade missions with scope of convincing corrupt Chinese kleptocrats to come and launder money in BC. You cannot best that.

YVR
Guest
YVR

Way to go NDP!

A shack in Vancouver is selling for $7 million. Here’s what you could buy elsewhere.
Why settle for a $7 million hovel in Vancouver when you could buy a mansion almost anywhere else, not to mention a Polynesian island or a luxury yacht

http://www.macleans.ca/economy/realestateeconomy/a-shack-in-vancouver-is-selling-for-7-million-heres-what-you-could-buy-elsewhere/

Bestplaceonearth
Guest
Bestplaceonearth

The speculation tax is a joke. Carol James should take a few months off and think oi through.

Best place on meth
Member
Best place on meth

Carol James should take a few years off, like all those lazy, entitled, freeloading homeowners who live off their “hard earned” equity gains courtesy of chinese kleptocrats.

Why work at all?

Bestplaceonearth
Guest
Bestplaceonearth

Wow, those home ownes take all the risk to have their homes and the basement dwellers called them freeloaders? Why not just take their houses away, and give them freely to the basement dwellers eh!

YVR
Guest
YVR

She does own 2 houses like Horgan. What do you think the average person in BC owns?

Specuskeptic
Member

Once people see that they’re serious, they’ll have to think seriously about their options. Perception that bluffing season is over will move mountains.

Lost...but not Leased
Guest
Lost...but not Leased

Not 2nd or 3rd….

#1

Best place on meth
Member
Best place on meth

Come on, let’s not turn this blog into a sad joke like Garth’s site.

Bag it and tag it
Member
Bag it and tag it

‘Zero’ is closer to the truth.