It’s the weekend!
That means it’s time for another open topic discussion thread.
What are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!
288 Comments
[…] Of course if you do this as a way to make money you are actually operating a business and you owe those taxes anyways, either as capital gains or income […]
New
477
Price Change
129
Sold
143
TI:11496
Wow just wow
Even for a post Victoria Day Tuesday, that’s a big listings number.
Heading up to 12,000 now …
Just said we did not hit 500. But can live with it.
Here is a question for the big brains here:
If the referendum passes, I’m hearing there will be a collaborative approach to governing. What’s frightening is THiS–> apparently NDP will side with Libs on housing measures.
WOWowow!
If true, this could be a game changer.
my favorite thing is when Oracle says “Im hearing”…
or “my sources say” …
Wow! Just wow!
It’s called critical thinking.
It’s called BSing
I’ll be correct in the end. Say what you will.
Such a loser. Oracle. Give it up.
So by what you are saying, the NDP married with the Green, and possibly has an affair with the Lib? I don’t doubt it. It’s the NDP, anything can happen. But, it will be an ugly divorce, and the kids would rather be orphans.
Garth is already whining about a possible NDP victory in Ontario… 🙂 http://www.greaterfool.ca/2018/05/22/orange-crush-2/ “What would an NDP win mean in Ontario (and the rest of the country)? Here are some highlights, taken from the Andrea Horwath platform: “We will make housing more affordable to Ontarians with a speculation tax.” Yes, the worst of BC real estate policy could be coming to Ontario. “Housing speculation and flipping are driving up housing prices,” says the NDP platform, ignoring the real causes. “We will implement a new speculation tax that will not be limited to foreign buyers. It will be based on British Columbia’s Speculation Tax, and will apply in the regions where the Non-Resident Speculation Tax (NRST) applies. While the NRST applies only on sales, our anti-speculation tax will apply annually. It will be targeted toward foreign and domestic speculators who do… Read more »
““Housing speculation and flipping are driving up housing prices,” says the NDP platform, ignoring the real causes.”
What are the real causes, Garth?
Bet the scumbag says low interest rates.
Low interest rates are magnified by HASM. They leverage, like everyone else.
Low interest rates ran their course by 2011.
Lying pricks/traitors like Garth and AIDS keep propagating the low interest rate myth.
You’re an economic genius.
Dumbass.
MSP premiums going to be eliminated.
The seniors who go to asia have never paid MSP premiums….because they never have declared their income and assets from overseas. Hahaha.
They losing this loophole. Locals on even footing with this regard going forward.
The NDP is double dipping on this tax. The payroll tax starts a year earlier before the MSP is eliminated. The budget will be healthy when they collect payroll tax and MSP premium at the same time, must be nice. They collect too much money, they don’t even bother to develop the economy, while concentrating all the lawsuits to the NDP sister in Alberta.
Fair point.
But I don’t trust this group one bit. Whether you are pro housing change or not, one thing that stands out is their about face on housing.
Prices up in last year. Should have gone down if they were serious. Basically lied.
The captain said he put the super tanker in reverse and it kept going forward. Stupid liar!!!
“The payroll tax starts a year earlier before the MSP is eliminated.”
MSP premiums were cut in half at the beginning of 2018 and will remain at half for 2019, then eliminated in 2020. Payroll tax starts in 2019. What does that amount to in net?
The first half of the cut was already covered in the Lib budget.
The NDP still collects the other half in 2019, while businesses and city halls will start paying payrolls taxes also in 2019. Where do you think the businesses and city halls get the money from? It all shovels down to the taxpayers. If this is not double dipping, I don’t know what is.
There goes the neighborhood – https://www.rt.com/news/427267-china-moon-communication-satellite/
20 year old – Project “Sidewinder”
http://www.primetimecrime.com/Articles/RobertRead/Sidewinder%20page%201.htm
Another fake “Canadian” caught. Fucker should be shot like the rest of the locusts in LM.
http://calgarysun.com/news/crime/it-hit-peoples-heartstrings-calgary-woman-charged-in-cancer-scam
Douglas Todd: Who cares for Canada’s 71,000 minor international students?
http://vancouversun.com/opinion/columnists/douglas-todd-young-and-often-alone-in-a-foreign-land
Did we ask them to be here? Simple solution
Propaganda piece.
Millions of parents getting 10 yr visas in anticipation of kids ‘study’ here. Can bleed Canada Dry without contributing anything.
10 yr visas.
Then qualify for easy peasy permit.
Canada laughing stock. Open borders.
Work permit.
Indeed.
Who cares?
Oracle why so conservative in your estimates??? This number maybe even in the billions…. or trillions…. you realize that to get a super visa a visitor needs to pass medical AND provide proof of medical insurance… super visa only available to parents or grandparents of permanent residents or citizens…. sponsors on the hook for support for 10 years….. here are the requirements: A letter of invitation from their child or grandchild residing in Canada; One of the following documents to prove that the child or grandchild meets income requirements: Most recent copy of the notice of assessment (if the child or grandchild does not have a paper copy of their notice of assessment on file, they can view and print their tax returns using the CRA My Account online service Most recent copy of the child or grandchild’s T4 or… Read more »
Douglas Todd would love it if you inferred from his article that all 71,000 minors are unaccompanied. Because he’s a toxic right-wing shit-stirrer like Oracle.
The final nail in the coffin for the Vancouver Housing Market. The Norwegian students, housewives and duck herders are panicking.
NOT REAL NEWS: FDA didn’t warn about rat-meat chicken wings
http://www.news1130.com/2018/05/22/not-real-news-fda-didnt-warn-about-rat-meat-chicken-wings/
“The piece appeared to be a variation of an earlier article that claimed such meat was confiscated at the Port of San Francisco after it arrived from China.”
not real news this time, but it could have been. What a reputation china has…
That’s why I’m part of the Chinese Free Movement – similar to eating all organic food, we abstain from using anything that came from China period. It does wonders for your life when you cut out China completely from your life.
You mean refuse your homegrown foods?
Why does this site take so much data? It’s mostly text.
A bug?
Finance Minister Bill Morneau attended an event in China sponsored by Westbank, a Vancouver real estate developer that is asking the federal government for billions in tax dollars to build affordable housing
https://thinkpol.ca/2018/05/22/morneau-attended-event-china-sponsored-liberal-bagman-seeking-billions-tax-dollars-affordable-housing/
Is Westbank’s owner, Ian Gillespie the new Cam Good of Key Marketing and pimping out Vancouver real estate to the Chineeze?
This Cam Good fellow only pretended to sell to foreigners – most likely to fool locals into buying. Remember the yellow helicopter scam with locals agents posing as foreign buyers?
Alas, years later, even after the truth was uncovered, there are those who still remain fooled.
Stay informed, my friends.
Well, Cam Good actually did sell to foreigners…he had offices in China…not sure if that’s still the case. I know they did well….and the yellow helicopter incident was actually not really a scam as we thought at the time…the Chinese really were flooding in here but we were in denial and yes, there were local realtors on the helicopter, but that’s what you’d expect. Because we were in denial we looked too hard to find the fraud in it. The realtors weren’t actually pretending to be Chinese buyers. In hindsight we should have listened to Cam…but that was then, this is now, and the crash is on.
His offices was taken over by Nu Stream, etc.
Ah, but renting an office in Shanghai may actually be a good way to sell RE to locals in Vancouver.
Home prices rose in ALL 20 major Canadian cities, doubling to tripling in the last 18 years.
http://www.torontocondobubble.com/p/canadas-housing-bubble.html
It’s called asset inflation, my friend. It occurs when you conjure historically unprecedented amounts of money out of thin air an pump it into the world economy. It may appear that assets have risen in value, but, in reality, the value of money fell.
The trend is now reversed – and we are only starting to see the consequences.
Stay liquid my friend.
Thanks for stating the facts, I think it is helpful to remind people that we have had three massive years of Chinese money inflows until 2017.
Those who deny the obvious are either stupid or self-interested.
We’ve had three years of emergency near zero interest rates, which economists warned back in 2015 would inflame the Vancouver and Toronto real estate markets.
https://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-rate-cut/article22548417/
“Lower interest rates could encourage already heavily indebted Canadians to borrow even more, further inflating home prices in cities such as Toronto and Vancouver.”
So it was said – so it was done.
I do not diasagree with you. But Chinese millionaire investors can also leverage. And they did. Ask HSBC or CIBC.
Both things matter. But in Vancouver, most homes are inflated to a large extent by foreign millionaires.
Except we know the majority of sales BY FAR are to local idiot speculators, and any claims of yours about them using foreign money are without basis in fact.
There’s no AIDS like the original AIDS.
Just ask any monkey fucker.
There is more than one straw connected to the balloon.
But, it’s not the straws that blow the balloon up – but the force that is blowing the air through them.
I’ll never forget what one of those realtors on Cam’s yellow helicopter said was most important to him.
“Rocation, rocation, rocation”
Hmm…I guess Hitlery must be an avid reader of this blog – https://www.marketwatch.com/story/at-yale-hillary-clinton-says-shes-still-not-over-her-election-loss-2018-05-20?mod=sm_fb_post
You can’t fix stupid, but at least BPOM & Co bears now have some hope if they ever wanted to pass on their genetic materials. Catch is they have to give it to locusts to do it.
https://www.wsj.com/articles/in-mixed-race-brazil-sperm-imports-from-u-s-whites-are-booming-1521711000?mod=sm_fb_post
Everyone wants to look white. The chineeze fix their eyes and dye their hair blonde… you know why there is a reason for that.
They also wear frogman suits when visiting the beach, and look down on other chinese with dark skin.
WORLD’S LARGEST AMPHIBIAN BEING EATEN TO EXTINCTION BY CHINESE
https://www.express.co.uk/news/nature/963085/animal-extinction-salamander-chinese-delicacy-chicken
Sweden distributes ‘be prepared for war’ leaflet to all 4.8m homes
Defence pamphlet shows how population can prepare in event of attack and contribute to country’s ‘total defence’
Sadly, yet another sign the world is changing for the worse. Dictatorships like China and Russia are flexing their muscle.
It is not China or Russia Sweden is worried about. They let in the enemy and they are living in the country right now.
4ead the article. It might help,you make some sense.
Are you saying Horgan’s favorite country which is the only country he has visited since becoming premier is about to invade Sweden?
“Are you saying Horgan’s favorite country which is the only country he has visited since becoming premier”
Horgan visited Washington, DC in July 2017 only weeks after he became premier, so that makes at least two foreign countries visited to date. But why let the facts get in the way of some good rhetoric?
The article talks about Russia. Of course China is Just Me’s obsession so he had to drop the word in there somewhere.
The point I was making was a general one. But everything works to attacks people who disagree with you. Dishonest.
Correction – The point you were making was a stupid one.
5721 ALMA ST
Original Price $2,880,000
Sale Price $2,580,000
2017 assessment 3.4M. Can’t wait for oracle explanation
Prices still climbing? Extra cash changes hands overseas?? Sexual favors?
The fact the original asking price was way below assessed tells you assessed was wrong. Most sales are still above assessed.
Keep fighting windmills. You are delusional.
This was one million below assessed. This was not just a mistake.
4774 w 6 also sold 1M under last week…. I’m sure just another error.
Sure an error.
And the neighbours houses were errors too and kooner complained.
Cash exchanged hands here.
These all sold for about 20% above assessed and above asking price. Probably closer to your price range.
1701 — 1001 Homer Street, Vancouver
B.C. Assessment: $552,000
Listed for: $549,000
Sold for: $641,000
204 — 12633 No.2 Road, Richmond
B.C. Assessment: $528,000
Listed for: $688,000
Sold for: $688,000
20295 Telep Avenue, Maple Ridge
B.C. Assessment: $832,000
Listed for: $949,900
Sold for: $970,000
Uh…we’re talking about West Side detached….if ”most’ are going for above assessment then funny you have to search all over the lower mainland to find ‘attached’ sales that went above.
West side detached vs an entry level safety deposit box in the sky and a couple of condos in the burbs….You gonna start showing us comparables in Shanghai too?
Yes. Whatever works for your narrative. Oddly enough was also on the market late last year. Did the fancy realtor trick – remove listing then re list so looks fresh.
Most sales above assessed? That s hillarious.
“Cambie Corridor land sold for nearly $4 above assessed value
The 10,129-square-foot single-family lot sold for $11.95 million”
Your link doesn’t work, but your example is really apples and oranges since this re-zoned to multli-unit development land.
We’ll find out if you’re right if the assessments increase next year. But I’m suspecting they won’t. Either way you’ve yet to produce a link to support your claim.
Hahaha. Fair enough man.
Don’t say it happens all the time but the fact is cash exchanges hands overseas in many transactions and that is reflected in sale prices way below assessment.
Drug Cash probably also exchanges hands here in this way.
Have you not been paying attention…the money launderers actually overstate the price of the home, not the reverse. Why would the buyer of the home want the sales contract to show a lower price? …then they’re on the hook for capital gains if it later sells for a higher price, plus it sets a lower perceived value of their new asset.
Your’e in denial man.
Who pays capital gains? It’s an honour system in Canada. No centrak registry.
Its an honor system? No, it isn’t… It’s actually something called TAX FRAUD… will be awesome when these clowns start getting picked off. CRA will be looking for tax revenue soon enough, they will leave the waitresses alone and move on to the morons that actually think capital gains is based on the “honour system”
This is some kind of reverse money laundering tax scheme the drug dealers have… They actually want to show a loss for tax purposes.
I am starting to understand Oracle theory now…
6080 VICTORIA DR
Original Price $1,388,900
Sale Price $1,225,000
Buyers thinking twice before paying full price for a total dump?
Province publishes book celebrating Chinese community
http://richmond-news.com/living/province-publishes-book-celebrating-chinese-community-1.23307486
Who cares, it was a long time ago. It had nothing to do with current generations and the constant apologies are tiring.
Meanwhile, much more importantly:
Richmond’s River Rock revenues down for third straight year
http://richmond-news.com/news/richmond-s-river-rock-revenues-down-for-third-straight-year-1.23307819
Way to go, Eby!
“Revenue payments have declined each year since 2014, corresponding with a BCLC anti-money laundering initiative in late 2015 and a more high-profile crackdown by Attorney General David Eby, who launched an independent investigation into the “Vancouver Model,” whereby Chinese and Latin American drug money filters through B.C. casinos and into real estate and other local investments.”
Gotta love David Eby.
“Revenue payments have declined each year since 2014″
2.5 of the 3 years they are referring to were under the BC Liberals. The Liberals actually criminally prosecuted money launderers. Eby just holds press conferences every time Sam Cooper exposes his inaction. Not one criminal prosecution under Eby. Speaks volumes.
Right. The Bc Libs are tough on Chinese money launderers. Good one.
The decline started with XIMjinoing tightening the screws in capital outflows and starting his anti corruption campaign.
But it sped up in the last 10months. Big time.
Gotta love David Eby.
“The Bc Libs are tough on Chinese money launderers.”
They were tougher than Eby. These stats prove that.
It’s hard to believe even you believe your own shit.
“The City of Richmond has seen a 4.5 per cent decline in gaming revenue”
Do you think a 4.5% decline is worth celebrating?
Any decline is worth celebrating. In real terms, with inflation at 2% or so, a few years of these declines will cut revenues in half.
Lol. Inflation.
Lol
Lol. 50%/year rent increases in Surrey. Lol.
BPOM posted that Thinkpol article about the AirBnb bragger…claiming almost 100G’s in income.
Given my (and others) premise that CRA will NOT go after big fish…..rest assured that CRA will be diligently reviewing ads etc….including basement suites.
Bet on disenfranchised and disillusioned renters (aka renovictions) ratting out their landlords.
Fasten your seatbelts….
I call BS on that AirBnb thing. That place would have had to have been rented every day ALL YEAR to bring in the $90k they claim. No way can that be and especially when the ‘super host’ has a full time job they won’t have the time to manage two AirBnb rentals. Just because someone claims something doesn’t mean it’s true and there is no way to verify their claim.
Yup. Just like Sam Cooper and Ian Young.
You know it’s possible to hire people to manage your AirBnb?
They won’t touch Surrey basement suites.
Half the house is a basement suite. Can you imagine he cap gains payable.
They won’t touch it. Mob mentality in breaking the law.
Re: CRA and cross- referencing info…
My understanding was, at least in the past, the individual citizen privacy was paramount…… various Gov’t agencies were not able to share information..ie your Drivers License and SI number were different by design.
Nowadays?…..we’ll see,
Unlicensed B.C. bitcoin trader jailed in U.S. after federal sting
http://www.cbc.ca/news/canada/british-columbia/bitcoin-washington-jail-louis-ong-1.4669451
Let’s try to make the discussion a little more civilized guys. 2 points:
1) Quit calling people names such as dumbass, idiot, moron etc. Seems like everyone is doing it.
2) Quit using other people’s usernames and pretending to be them and posting. Happens too often.
How about you stop calling other posters “ morons” then?
Sock puppets are exempt, apparently.
Ok
Haven’t seen this one before. Fucking locust is so smart we should all just watch and learn from them …
“A Richmond, BC realtor who helped her daughter make a $205,000 profit flipping a house obtained while committing professional misconduct has been fined $5,000 and will face no licence suspension.
The Real Estate Council of BC found Angela Guo, also known as Xin Bo Guo, had failed to take reasonable steps to avoid a conflict of interest when she sold a Richmond property, for which she was the exclusive listing agent, to her daughter without disclosing to the client her relationship to the buyer[1].”
Basically, the usual.
And nothing seems to happen to these criminals.
$5,000 is pocket change, does not even pay for a couple of services at the BMW dealership.
Note Indian kids faces are plastered all over the news yet the library kicker roams free.
Perhaps because the Indians (from the subcontinent) have not developed the propaganda machine that the Chinese Communists have at their disposal?
This wave of crooked mainlalnders coming here over the last decade or so is not unlike the wave of Sicilians that immigrated to New York a century ago, making their living from sophisticated criminal enterprises and evolving into the Mafia.
They’ve already infiltrated and influenced all levels of government, it’s only a matter of time before they corrupt law enforcement and the judiciary as well.
Vancouver has a very bleak future.
Your point is well taken. In Point Grey, the Italian mafia is long gone, and so is most of the Russian mafia – their tenure was only a decade or so, now mostly displaced by assorted home-grown drug dealers, triads, trans-national criminal syndicates, and government-sponsored entities.
“Vancouver has a very bleak future”. Entirely agree – if, because of the superficial resemblance, you imagine like Singapore, imagine again – not nearly so tidy and well-governed. But it is expensively governed, financed by Joe the Local Taxpayer.
What crime was committed?
Lack of disclosure. Conflict of interest and private interest in public representation agreement. Likely price tampering.
Not to mention about the obvious: it is a form of double ending which is illegal. And the punishment does not fit the gain.
when dealing with the mainlanders there cannot be conflict of interest. The ONLY interest they are concerned about are their own…
yeah, who remembers the days when your agent’s role was to get you the best price, not to lie, cheat, steal, bluff and pretty much con you into giving your home away for as little as possible for the sole purpose of flipping back out onto market the moment the ink dries. new coast agents were notorious for withholding better offers from clients, selling home at the lower price and pocketing the difference. for all intents and purposes all these agents are still out and about doing business as usual
If you can provide any sources at all which confirm that a crime was indeed committed that would be fabulous.
Are you that thick?
Conflict of Interest.
Fined $5,000
No crime no fine. Sounds like a crime to me…
Feel free to provide a link to the relevant law(s) that make failure to disclose a conflict of interest a crime.
Section 145.B.S – Realtors shall work only in the interest of buyers. Failure to obtain best price for buyers is a crime punishable by death.
VCI Real Estate Act of 2005. Act sponsors BPOM & Patriotz, seconded by Mohican (whoever that is).
sources are provided in article you moron. had this all been fabricated there would have been no case or $5000 slap on the wrist to begin with. buyer and agent representing seller are non arms length and this was intentionally not disclosed, so at the very least relevant parties were hiding fact from the seller that not only was there was coordinated plan to shadow flip property but also intention to pocket the winnings themselves. while we’re at it, we can toss a little tax fraud into the mix too if one assumes purchase was also done in daughter’s name for tax purposes too
I asked for a source that an actual crime had been committed, fuckwit. There’s a difference between something that’s morally wrong and something that’s a crime.
Morally corrupt? Definitely. But then again, why should we be surprised any more.
Against the rules and regulations as well. Double ending has been forbidden. And by extension it includes your direct family (husband, children, parents).
So, as usual, you are wrong. You seem to condone a lot of things when the culprits have a particular background.
Against the industry’s rules and regulations doesn’t mean criminal.
So was a crime committed? Yes or no?
Yes. A crime against whoever was fraudulently led to sell to the daughter of the agent. The problem is, nobody cares anymore in Vancouver.
We operate like a suburb of Shenzen.
So what crime was committed then? I don’t believe there was a crime.
If you disagree you should lodge a complaint with the police. But you won’t because you’re a) wrong and b) all talk.
“Morally corrupt? Definitely. But then again, why should we be surprised any more.
What should we be paying more attention to. New Coast Realty being corrupt or the NDP government. We have the NDP taking $500K from developers to not put the foreign buyers tax on presales and you are worried about a realtor double ending a deal? We have the former NDP leader and premier in a scheme with the NDP aligned Vancouver mayor rezoning areas and then secretly flipping houses for a $6M profit. New Coast is the least of your worries. At least you can not work with them or hire them. You are stuck with the NDP running both the province and city.
BEST IMMIGRANT GROUP EVER!!!