Don’t forget to pay your condo flipping taxes

Just a reminder, flipping condos as a money making venture means you have to pay taxes on that income and the CRA is going after those who don’t report condo flipping profit.

From April 2015 to December 2017, the CRA audited 4,951 files in British Columbia and assessed $140.0 million as a result of these audits.

The penalties for non-compliance are harsh.

“The CRA will apply a penalty equal to 50% of the additional tax payable if a taxpayer knowingly makes a false statement when filing a return,” the CRA says. “During the period of April 2015 to December 2017, the CRA applied 1,254 penalties, totaling $38.6 million. The highest penalty was almost $2.5 million.”

Read the full article here.

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Disgusted
Guest
Disgusted

Flipping of condo units by insiders fuels hot Vancouver market
In the six developments −173 Number of flips
Average profit for insiders and speculators with foreign capital (per flip): $145,759 Average profit
http://www.theglobeandmail.com/canada/article-flipping-of-condo-units-by-insiders-fuels-hot-vancouver-market/

ostritch
Member
ostritch

Don’t be disgusted. They should do nothing to close this loophole because the greed adds desperately-needed inventory to this city. Without these idiots, there wouldn’t be 8 new mini-cities under development right now. Oakridge, all three Cambie, Oak, Granville corridors and the nightmares going up in Richmond where the shopping centres once were.

Whistler or bust?
Guest
Whistler or bust?
Just me
Guest
Just me

One has to wonder whether the sudden stop to bank lending to foreigners has anything to do with it….

ostritch
Member
ostritch

Wake me up when 0.3% decline for eight states and territories becomes a 30% decline for Sydney.

bullwhip29
Guest
bullwhip29

British Columbia considers halt to exclusive access for condo presales
https://www.theglobeandmail.com/canada/british-columbia/article-british-columbia-considers-halt-to-exclusive-access-for-condo-presales/

>>> more from Kathy Tomlinson…

rockerguy
Member
rockerguy

Get on with it.

Oracle
Guest
Oracle

http://vancouversun.com/opinion/columnists/douglas-todd-immigration-disappointment-looms-for-young-foreign-students

This is all you need to know. About why everything is FOMO.

If there is one article to ever read, it’s this one.

Oracle
Guest
Oracle

Unlimited foreign students. 500,000 already here.

That’s a 250,000 per year. Because they all go into mostly 2 yr programs for immigration purposes.

That’s like 75,000 new students to Vancouver every year. Wow wow wow.

Rents gonna explode.

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

There are 3 million foreign students in Kitsilano alone. Wow wow wow.

Just wow!

Oracle
Guest
Oracle

The dumb here may just believe you. Obsifucate the truth may well be the most effective thing the new colonizers can do.

Great invasion so far!

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

Wow! What a reply! Just wow!

ostritch
Member
ostritch

I agree with you Oracle. Just go to any university here and look at the student population. It’s a great way in. Even if many leave to go home so many more coming enrolment always increases every year.

ostritch
Member
ostritch

Universities love money more than the Kardashians love money.

rockerguy
Member
rockerguy

Paul Zysman, founder of ILSC (https://www.linkedin.com/in/paul-zysman-94978710/) is building a $10M home on Bowen Island (https://www.bcassessment.ca/Property/Info/RDAwMDBHTTNSMQ==). He donated $500 to the Conservatives in 2011. Maybe he should consider throwing a few bucks Trudeau’s way.

Just me
Guest
Just me
https://globalnews.ca/news/4178140/foreign-buyers-scapegoats-bc-senator/ Yuen Pau Woo Does not represent the views of the majority of British Columbia, and he certainly does not represent me. In fact, I resent the fact the current government installed this person in such a high profile position for motives that, at least partly, have to do with the relentless pursuit of diversity rather than merit. One would expect that the government appointments to the senate are done with at least some attention to the objective of having someone whose views align with those of the people he/she represents. One might argue this would be the primary and over-riding objective. Sadly, Yuen Pau Woo does not even come close to represent BC residents. And he is making a mockery of himself and of his office. Thanks Trudeau. To pursue the optics of inclusion and diversity, you ended up… Read more »
Bag it and tag it
Member
Bag it and tag it
Another point nobody is making about the ‘Vancouver Model’ of money laundering has to do with leverage. So we all know the VM is where the price on the contract much higher than it’s worth and much higher than what is actually paid by the buyer. So as an example contract price is $3mil, but it’s agreed the buyer only pays the seller $2.1mil. As a foreign buyer, the Canadian banks will require a down payment of 30% without any income verification. So the bank will transfer $2.1mil to the seller, and guess what, zero down payment was required for this purchase. Zero down payment but $900K laundered. So they could keep buying and selling these home to each other with zero down payment and zero risk to them, and the so called bag holder at the end will not… Read more »
Bag it and tag it
Member
Bag it and tag it

Actually, these would not be insured mortgages so it would not be on CMHC.

ostritch
Member
ostritch

Nope. A down payment of 30% does not qualify for CMHC insurance.

ostritch
Member
ostritch

Mortgages in Canada are non-recourse so you can’t walk away. Or I should say you and I can’t walk away but no one has tested out what happens when locust walk away. That’s going to be very, very interesting. The banks obvously feel they are covered with 30% down.

Doomcouver
Guest
Doomcouver

You mean “full recourse”. Non-recourse means you CAN walk away. Also don’t forget Alberta is non-recourse.

Sebastien
Member
Sebastien

138 1460 Southview Street, Coquitlam
Mar 27:$879,000
Apr 30: $699,900
Change: – 179100.00 -20%
A: $700,000

3543 Harper Road, Coquitlam
Jan 25:$2,128,800
Apr 30: $1,880,000
Change: – 248800.00 -12%
A: $1,943,000

Oracle
Guest
Oracle

Overseas transactions. Buyer doesn’t need to import cash. Seller saves on Cap gains.

Win win.

When will you people get this?

Sebastien
Member
Sebastien

Proof?

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

It’s Oracle.

Oracle
Guest
Oracle

It’s the resident money launderer who later trying to keep his countrymans doing a secret.

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

Hey, liar, I guess you must have found a new VPN provider because your gravatar mysteriously stopped changing constantly ever since I called you out on your bullshit.

Oracle
Guest
Oracle

No link for you if that’s what you’re looking for.

But I see it all the time in the Indian community. So pretty sure it’s rampant in the Chinese community.

Money exchange there. Real estate exchange here. Happens often and the buyer saves a huge amount of taxes on money exported.

What people fail to realize with Chinese capital controls is they can export all the legal money they want. They just have to pay a tax on it. Its significant and this way you avoid that.

Oracle
Guest
Oracle

Deal then usually done through a lawyer who says the buyer put x% down and applies for a mortgage for a reduced amount.

There was never a x% down given though. Just to satisfy mortgage people.

Buyer still pays market value for house but it shows up in data as something reduced by 33%. Seller saves on capital gains and sometimes needs money back in China.

That’s why Detached going ‘down’ in Vancouver. Most detached homes are owned by Chinese thus they have their own market now.

Don’t rely on stats.

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

You mean you witness fraud and don’t report it? Isn’t that a crime in itself?

bullwhip29
Guest
bullwhip29

agreed. this is low risk, high reward manoeuvre that many semi-saavy investors have surely executed over the years. these oddball outlier transactions that always seems to occur in the blink of an eye are red flags imho. claims that there are no shenanigans going on since listing was put on mls are false. in fact, this is only done for optics reasons and to create a plausible paper trail but there is no chance an outsider would be able to close on such a transaction or even be offered the opportunity to present a competing offer

MarKoz
Member
Just me
Guest
Just me

“Government says it will support bill amendment designed to stem global flow of ‘dirty money’

Just for plain speak.

Laibach
Member
Laibach
Whistler or Bust?
Guest
Whistler or Bust?
Not sure if this is true but thought I would share it for comment. As Hypocrite Horgan Opposes Trans Mountain Expansion, The Vancouver Airport Authority Is Building A Pipeline To Import Fuel From Asia NewsSpencerFernandoApril 18, 2018 Insanity. If you thought the hypocrisy and insanity surrounding the B.C. NDP government’s opposition to the Kinder Morgan Trans Mountain expansion couldn’t get any worse, then hold on tight. Even as all attention focuses on Trans Mountain, it turns out that the Vancouver Airport Authority is working on a pipeline that will be used to import jet fuel from Asia. As reported by BIV last year, “The project involves building a new marine terminal on the south arm of the Fraser River, a tank farm and a 15-kilometre pipeline that will run through Richmond along Highway 99 and stretch west to Lulu Island.… Read more »
Name
Guest
Name

This line has been in the works for awhile now (and may already be completed) but it is to import fuel from Washington State not Asia which is currently sent by tanker truck up highway 99 from a refinery in Washington State. This guy is making a strawman argument because not all pipelines are the same and also the Asia connection in this case is not accurate as far as I know.

bullwhip29
Guest
bullwhip29

Vancouver-Point Grey MLA David Eby has cancelled an upcoming town hall on the new school tax after a planned protest prompted security concerns around the event
http://www.cbc.ca/news/canada/british-columbia/david-eby-postpones-school-tax-town-hall-amid-security-concerns-over-protest-1.4642927

Name
Guest
Name

The freeloader millionaire homeowners are upset they will have to pay a bit more tax on their multi-million dollar houses.

“he said two real estate agencies encouraged non-constituents and people without tickets to attend, and then a subsequent letter distributed by the B.C. Liberals did the same. He also said the staff at his office had been subject to verbal abuse.”
“People were opening the door and shouting at my staff and calling up the [constituency] office and yelling at my staff and so on.”

‘Utterly unfair’
“Jonathan Rubenstein, a semi-retired homeowner from Shaughnessy, says his property — which is valued at $6.3 million — is not a financial asset that should be taxed by the government.”

Talk about entitled. Meanwhile some people are living in their vans on the streets.

Just me
Guest
Just me

“Jonathan Rubenstein, a semi-retired homeowner from Shaughnessy, says his property — which is valued at $6.3 million — is not a financial asset that should be taxed by the government.”

Dear Mr. Rubenstein: people pay higher marginal taxes on their meager financial savings. What is your point? Since your millions are in real estate you are exempted?

Doomcouver
Guest
Doomcouver

Boohoo for these rich a-holes. We really need a tax revolt for the working class. Wealth inequality has gotten completely ridiculous. “Let them eat cake” moments are happening all over Vancouver.

Just me
Guest
Just me

This is truly shameful. Owners are effectively complaining because the BC Libs’ welfare system for millionaires has been marginally tweaked (not eliminated, mind you. Taxes on the first 3 millions of values are still low, and you can defer them indefinitely if you are a mature owner).

Shame on them. Really, they should hang their heads in shame. Their greed is astounding.

Just me
Guest
Just me

“In a statement, Eby, who is also B.C.’s attorney general, said he had hoped the event could have been an opportunity for a community discussion about the school tax.

However, he said two real estate agencies encouraged non-constituents and people without tickets to attend, and then a subsequent letter distributed by the B.C. Liberals did the same.”

I really wonder which real estate agencies are behind this shameful protest. Anybody knows? We should start a boycott campaign that makes them aware of their mistakes.

Just me
Guest
Just me

“He also said the staff at his office had been subject to verbal abuse.
Point Grey is home to some of Vancouver’s most expensive properties. (Tina Lovgreen/CBC)

“People were opening the door and shouting at my staff and calling up the [constituency] office and yelling at my staff and so on. We’re vulnerable at that point,” Eby said.

“We pressed on … but the tactics of the opponent groups ramped up.”

Just me
Guest
Just me

“Rubenstein says many of the people who live in these highly valued houses might not have the liquid income to keep up with the tax increases.

Instead, he suggested increasing the tax for high-income earners as a way of generating education funding.”

This guy is nuts: high-income earners are taxed at a marginal rate of over 50% in BC. His marginal rate is less than a 10th of that.
Talk about freeloaders!

Whistler or Bust?
Guest
Whistler or Bust?

Wow that is truly astounding that some can think like that. Add tax to an already overtaxed segment of the population that is doing something productive while exempting a massive tax free asset.

These owners can defer their taxes or do a reverse mortgage for 1% of the value of the property if they can’t pay their taxes. Woe is me!

Whistler or Bust?
Guest
Whistler or Bust?

This said, if the NDP would spend within their budget they would not need all these new taxes.
Income, property and carbon.

Just me
Guest
Just me

The point is not just to raise revenue. The point is also to limit house price growth by reducing the incentives to use homes as gold bullion.

Dave
Member

It’s generational warfare. The retired boomers want and consume a lot of government services but don’t want to pay for them.

Taxing the working guy who can’t afford real estate is World class stupid. You need to get the unproductive people out and keep the productive people in.

Ulsterman
Member

“The retired boomers want and consume a lot of government services but don’t want to pay for them.” No generation has had it so good yet gripes when they get charged for some of the services they enjoy. Individually they’re just people and i don’t begrudge their smart decision to be born at such a good time. But please don’t pretend you had it as tough as today’s Millennials just because they can afford a cell phone, a Netflix subscription, and Starbucks.

I bet they’d swap for virtually free education, little globalized competition for jobs, strong unions, benefits, pensions, the no-gig economy, houses at four times incomes, less traffic, entry to UBC with a C+ average, and walking uphill to school both ways etc etc.

bullwhip29
Guest
bullwhip29

‘Amazon Effect’ May Push Vancouver Housing Prices Even Higher
https://www.bloomberg.com/news/articles/2018-05-01/-amazon-effect-may-push-vancouver-housing-prices-even-higher

>>> isn’t it funny how these supposedly bullish articles all seemed to be queued up ready to publish the moment the AMZN news was announced? as per usual this story will undoubtedly make the highlights on this evening’s news broadcast and will be set to autoreplay for many more days/weeks. what hasn’t been reported on, however, is what sort of terms AMZN got on this deal. i would assume they called all the shots and walked away with a sweetheart deal complete with each and every out clause should things go into the crapper for a myriad of reasons.

Doomcouver
Guest
Doomcouver

The real estate pumpers never miss an opportunity to stoke FOMO.

bullwhip29
Guest
bullwhip29
ostritch
Member
ostritch

Amazon is coming. Which one of you bears is going to swap 85 hours of your time each week for $65,000 CAD? Meanwhile locusts will find a workaround to CRA or take their maniacal flipping schemes elsewhere until low prices draw them back in. How will you afford to jump on low prices with a salary of 55K a year tho?

Sebastien
Member
Sebastien

What tells you that we won’t be able to afford a place with 55K/year?

C.Junta
Member
C.Junta

>85 hours of your time each week for $65,000 CAD
May I ask where the $65K number is coming from?

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

His ass?

Oracle
Guest
Oracle

Most are people being relocated from USA because H1B expiring and changing there.

Locals? Highly unlikely.

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

You know the source of employees for an office that not even opening for a few years?

You’re a fucking genius, you are.

stagnate
Guest
stagnate

the yvr people understand you can’t count on the ndp to facilitate a core service like providing fuel, might as well do it yourself. the ndp is also finding out the hard way there is no such thing as easy new tax sources.

Doomcouver
Guest
Doomcouver

Pretty sure providing fuel isn’t within the government’s mandate. If you don’t like the prices, go electric.

Dave
Member

There are no electric jets yet.

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

You fly to work?

Shut It Down Already
Member
Shut It Down Already

Peppa Pig is censored by popular Chinese video app for being ‘subversive’

http://www.dailymail.co.uk/news/china/article-5677567/Peppa-Pig-censored-popular-Chinese-video-app-subversive.html

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

School holidays already?

Shut It Down Already
Member
Shut It Down Already

Don’t you have anything better to do, faker.

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

I bet you were dumb enough to register your account with your real email address.

Shut It Down Already
Member
Shut It Down Already

You need professional help. Your obsession with me is not healthy. You disgusting, pathetic, pervert.

Name
Guest
Name

http://www.news1130.com/2018/05/01/vancouver-city-hall-council-meeting/

Protestors angry about a development proposed at 58 West Hastings street block entrances at Vancouver City Hall. Police called in.

Laibach
Member
Laibach

Why do bears (a.k.a. freeloaders or basement dwellers) have to suffer consequences of the greedy morons (a.ka. bulls), and be held as hostages of the equally stupid monetary policy?

https://www.bloomberg.com/news/articles/2018-05-01/canada-s-poloz-says-high-debt-rate-sensitivity-to-persist

Just me
Guest
Just me

“Macroprudential policies — essentially government regulations to slow the accumulation of debt — improve the “trade- off,” he said.”

“While recent steps to tighten mortgage rules were welcome, he added, the measures will only impact new mortgages. “The stock of household debt, including the $1.5 trillion in existing mortgages, will persist,” Poloz said. “And this debt has increasing implications for monetary policy.”

Just me
Guest
Just me

Poloz cracks me up.

He candidly admits that debt is a bit problem. Then goes on to say we need to keep interest rates low so that the debt stock will increase even more.

We have had negative real interest rates for years. Right now inflation is above 2% and interest rates are at 1.25%. This erodes the incentives to save and increases the incentives to borrow. Poloz is digging even deeper into the hole. Someone should stop him.

Oracle
Guest
Oracle

It’s only a problem for those in debt. Most homes barely have a mortgage.

It’s the lower 25% who got in late the last 8 years or so that are in debt.

Name
Guest
Name

Poloz says Canadians owe $2 trillion as central bank mulls next rate hike

http://www.news1130.com/2018/05/01/poloz-says-canadians-owe-2-trillion-as-central-bank-mulls-next-rate-hike/

OTTAWA – Bank of Canada governor Stephen Poloz says Canadians have amassed a $2-trillion mountain of household debt that is now casting a big shadow over the timing of his next interest rate hike.

so there we have it folks. He is concerned about how much debt there is out there, even though he`s supposed to be dealing with interest rates and inflation, his decision is being influenced by our collective debt levels. He has really painted himself into a corner and he is freaking.

Name
Guest
Name

and …

Poloz says the volume of what Canadians owe is an important vulnerability for individuals and the entire economy — and it’s one of the key reasons why the bank has been taking a cautious approach to raising its trend-setting rate.

Oracle
Guest
Oracle

Disagree. With the Canadians thing. About 25% of the people own the vast majority of debt of $2T. The other 75% laughing.

I think you are the 25%. No?

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

Yeah, but then Poloz says everything is A-OK with massive household debt……..

He’s got this.

😉

https://sg.finance.yahoo.com/news/outlook-good-even-shadow-debt-bank-canadas-poloz-192506391–sector.html

“Outlook good, even with shadow of debt: Bank of Canada’s Poloz”

“YELLOWKNIFE, Northwest Territories (Reuters) – Bank of Canada Governor Stephen Poloz said on Tuesday that the view of the Canadian economy is quite good despite record levels of household debt, and he was confident the central bank can manage the risk of that debt even as interest rates rise.

Speaking in Yellowknife, Poloz reiterated that policy makers will be cautious as they watch to see the impact on households of the bank’s three rate hikes since last July, but said rates are far below the level considered neutral and will naturally rise….”

Name
Guest
Name

Myself and others here have said he should not have dropped rates below 1% in a knee-jerk reaction to crashing oil prices but since it’s amateur hour at the BoC he panicked instead of waiting to see how lower oil would affect the overall economy. Now we have rates just above where they should have been kept all along and in reality at this point we should be much higher than where we are currently. He has helped to create the mother of all bubbles in real estate and debt and there will be no way out other than a big pop.

Oracle
Guest
Oracle

But you guys don’t pad their foundations. Learn how the new Canada works first.

Doomcouver
Guest
Doomcouver

The BoC just does whatever the Federal Reserve is doing. Poloz knows he has no real power. After the housing bust expect the mandate at the BoC to expand to include controlling house price inflation.

Disgruntled
Guest
Disgruntled

Right now the mandate seems to include attempting to stop house price correction. Also I would not expect the BoC to raise more than one in every two increases in the US. Poloz and company will do the very barest minimum to keep our loony above $0.50 US, real inflation be damned.

Specuskeptic
Member

Gary Mason piles on…https://www.theglobeandmail.com/opinion/article-the-deplorable-condo-shell-game-that-needs-to-end/

“Get ready for all the excuses, and the condescending talk about how we don’t understand how the business really works and how developers need to be able to sell to speculators. Don’t buy it – any of it. It will be self-interested nonsense from people who once filled the financial coffers of the political party previously in power in B.C., likely banking on that government to not change the rules of the game.”

High marks for accuracy…

Just me
Guest
Just me

Brilliant!

Just me
Guest
Just me

“The scheme is pretty simple. A developer gets approval for a project and then has to go out and raise money to satisfy the banks. He does this through presales of his project. Most of the units are being offered to select realtors, who have investor clients, many from China, who are willing to put down whatever it takes to get a piece of the action. And they are getting this access ahead of young people desperate to get into the market.”

xhistory
Guest
xhistory

Always buy wholesale ….and sell retail.

This planet has a chronic illness of Middlemanmania.

Just me
Guest
Just me

“The insiders who are flipping their properties are often not paying tax on their financial gains and not paying fees and levies (like property transfer tax and foreign buyers’ tax) that others do. And they are often making hundreds of thousands of dollars through these transactions. The developers are happy because they get a cut of every deal that takes place. They want to see price escalation take place because it means more profit for them. There are whole towers being built and designed with the speculator and investor first and foremost in mind.”

Dyugle
Guest
Dyugle

This just is begging for a CRA audit. They get a cut of every transaction means they have records of every transaction. Looks like a slam dunk!

Just me
Guest
Just me

“The practice is unconscionable and the fact that it’s been done with the real estate industry’s knowledge makes it even more egregious. Now that it’s been exposed, many in the field are ducking for cover.”

Just me
Guest
Just me

“There can’t be a lower price for insiders and another for the general public, as there often is now. There can’t be any secret deals. There can’t be flipping. Yes, people sometimes need to get out of their presale contracts because their personal circumstances have changed. Fine. But they should only be able to resell those contracts at the same price they originally paid for them, which would help prevent the crazy inflationary price spiral we see being created today.

There needs to be far, far more transparency in the condo market.”

Whistler or bust?
Guest
Whistler or bust?

While I do disagree with realtard insiders making profits on the working class shouldn’t private sellers be allowed to set whatever price they want for their product?

Just me
Guest
Just me

Hoarding and gouging is regulated in most markets.
Not in real estate.
Try doing that with natural resources, financial assets, companies or utilities.

bestplaceonearth
Guest
bestplaceonearth

It’s a free market, and this is what free market does. You hate China so much, and you try to have the mindset of commie regulation…do you have multiple personalities too?

Just me
Guest
Just me

Housing is a highly regulated market. It is implicitly and explicitly supported by various government agencies and institutions.

For the first time in ages, government is withdrawing its helping hand. And millionaires are not happy about their privilege being reversed.

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

This is where patriotz bores us all with the definition of “fungible”.

Just me
Guest
Just me

The only slightly annoying thing on this blog is you. With a sprinkling added by your race baiting, morally corrupt friends, who support the pillage and corruption occurring very day in our city.

Just me
Guest
Just me

“The fact the NDP government in B.C. is indicating it is prepared to halt the deceptive practices Ms. Tomlinson revealed is encouraging. But it should be prepared for a major pushback from an industry that understands the house of cards it has built around the current system. It likely wouldn’t take much for it all to come crashing down, either.”

Oracle
Guest
Oracle

By the time they do something, it’ll be time for another election.

Also, nothing I have seen proposed so far is going to have any effects on rents.

They are going much higher. Lots of stores and restaurants empty today. Rent poor. Lots of vacations being booked by the landlord class. Record number in fact.

THe divide gets wider and will only grow. Hello Eby?

Laibach
Member
Laibach

“Lots of vacations being booked by the landlord class. Record number in fact.”

This delicate information got me seriously thinking about data, privacy, statistic, machine learning, artificial intelligence and some unknown forces (eg. Masonry). What kind of informers or investigators you have access to, this is like Matrix, Neo, and Oracle? Usually, when people travel or book vacations there is no mentioning of their housing status so this one would definitely require some deep research and analysis which I assume you have access to. Please do tell us, this is the first time I ask you to point out your source.

Whistler or bust?
Guest
Whistler or bust?

+1

YVR
Guest
YVR

“The fact the NDP government in B.C. is indicating it is prepared to halt the deceptive practices Ms. Tomlinson revealed is encouraging. ”

The NDP also said they were going to apply the foreign buyers tax to presales and didn’t. They did accept $500K in “donations” from developers recently but I am sure that has nothing to do it. I am sure the NDP will start a study soon to see if action is needed. Report out by late 2019. Eby’s expert consultant Cameron Muir will be working on it.

Just me
Guest
Just me

Andrew Wilkinson justly announced he plans to make life a lot easier for homeowners. But you will vote him anyway. You don’t vote on facts, you vote on hate.

bestplaceonearth
Guest
bestplaceonearth

What facts? What have your facts done for you? Nothing good thus far! Your facts are just penny a hundred.

Just me
Guest
Just me

You make no sense. But that is normal, I guess.
P{lease take an ESL course.

Laibach
Member
Laibach

Only sense that subhuman organism or bacteria or Byron makes is being a living showcase or a textbook example of what became of people living in Vancouver. Soon that mentally and culture will be prevalent, Greedy and rotten dog who eats other dog to get ahead, but literally.

Oracle
Guest
Oracle

Watch the homeowners create a violent racket and yelling to make NDP backtrack on the school tax like they did on the spec tax.

That’s how you get change.

Oracle
Guest
Oracle

500,000 foreign students in Canada.

What’s the net inflow per year?

If all in 4 year degree programs (not the case), then 125,000 per year before they get a work permit (TFW, etc).

If all in 2 year programs (most likely as this is duration for immigration purposes), then net 250,000.

Most likely 166,000 net new students coming here. And no, they don’t return. Goal is to get PR.

Add these 166,000 to the 310,000 regular immigrants being accepted this year. Add then the TFWs and IMPs. Add then the Supervisas. Add to that the millions of parents being given 10 year visitor visas.

Now you know why your rents are rising as well as the sub million properties.

Ignore this at your peril.

Name
Guest
Name

“Ignore this at your peril.”

I always ignore you .

Oracle
Guest
Oracle

You are a dumb one indeed. Ignoring numbers and trusting feels.

How has that worked out for you so far?

Whistler or bust?
Guest
Whistler or bust?

BINGO!

Whistler or bust?
Guest
Whistler or bust?

Orcacle mentioned ‘sources’ AND is 10% + of the posts in a thread.

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

Wow wow wow! Just wow!

Oracle
Guest
Oracle

Relinquish yours Chinese citizenship Or STFU

Royce McC
Guest
Royce McC

YES!!

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

No need to guess at numbers or make assumptions about proportions of those who stay:

https://www.statcan.gc.ca/pub/75-006-x/2015001/article/14299-eng.htm

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

You know that the point of that article isn’t the point you were trying to make, dumbass?

paulb
Member
Active Member

New
363
Price Change
77
Sold
134
TI:10420

http://www.clivestevepaul.com

Best place on meth
Member
Best place on meth

No drop in inventory despite a new month.

Very interesting.

Just me
Guest
Just me

With a bit of luck we’ll hit 11k by mid May.

Just me
Guest
Just me

Just heard on CBC On the Coast that Andrew Wilkinson promised to repeal the extra property tax on properties worth more than 3 million people. Apparently, he claims he needs to defends poor British Columbia’s homeowners who are mistakenly targeted.

The battle lines are being drawn along ownership lines. I really hoped the BC Libs would wise up and stop supporting the millionaires in the face of the housing crisis we are facing. They decided to keep the course traced by Christy Clark. Shame on them for siding with developers, corrupt Chinese officials and millionaire owners.

bestplaceonearth
Guest
bestplaceonearth

You watch! your NDP god will be wiped out in the next election! You think they are here to save your sorry arse; nope, they are here to save their seats. Only you can bail out of your own failure.
By the way, why don’t you to Point Grey to night and protest against those who oppose the school tax? Yeah I know, you don’t want to do that either. The best you can do is to salivate this blog!

xhistory
Guest
xhistory

Education is a tough one to figure out in the New Age. Our future faces a crisis of existence. Kids maybe need a military education, dealing with far-reaching external threats. Say goodbye to your kids at age 12. How we deal with taxation becomes a Fed and Global issue.

xhistory
Guest
xhistory

The tax shouldn’t apply to houses that are homes and not financial products (treated like currency). Apply the tax evenly to all areas of the province where the owner treats the house like currency. Eliminate the tax in all areas where the house is treated like a home. You do that by reviewing Heloc and refinance history. The issue is people using refinancing to speculate, adding spec housing to their portfolios, while leaving places underused … meanwhile thousands of homeless freeze in the winter. It’s insane. The Earth we call home, got caught on this one. They dropped the ball on the house-as-currency, Lycurgus effect and New Application of Gresham law. I xhistory have rights to this insight, always and forever, amen.

YVR
Guest
YVR

Andrew Wilkinson won’t have to repeal it. The NDP will do it first just like they did with the spec tax. Eby will not be winning his Point Gray seat again with this tax in place. That was one angry mob (of all white folks) on the news today. Not good when the people who voted you in are asking for your head.