Friday free-for-all!

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!

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Diadora
Guest
Diadora

“Chinese-only” developer that raised funds for Trudeau’s Liberals seeking $40 billion in tax dollars to build affordable housing
https://thinkpol.ca/2018/05/18/chinese-developer-raised-funds-trudeaus-liberals-seeking-40-billion-tax-dollars-build-affordable-housing/

Simple Solution
Member
Simple Solution

4774 West 6th Avenue

Sold 3.2M. 1M UNDER assessment. So Oracle, is this another case of funds just changing hands overseas?? How are the sexual favors being handled?

Just me
Guest
Just me

Great news!
Keep posting this kind of info, it is valuable.

We need to give some visibility to price drops.

Bag it and tag it
Member
Bag it and tag it

Yes, but I’m sure REBGV will still show a .05% MoM price increase for West Side detached for May.

Oracle
Guest
Oracle

Are you in crack?

Viability?? Hahaha

The market knows a lot more than you or I.

Laibach
Member
Laibach

I assume one part of the “real” price is exchanged overseas and the second part went towards the 10 years worth of rents for each of two single mothers on the convenient locations. The contract also states that both parties (buyer and seller) will have access to both single mothers on the “first come – first serve” basis in the next 10 years or as long as rent is paid. Oracle?

Best place on meth
Member
Best place on meth

Man, it’s complicated being a locust.

Oracle
Guest
Oracle

So post other recent sales in the same neighbourhood. Why aren’t they sold at $1 million below assessment??

And why haven’t $2 million assessed valued homes being sold for $1.4 million then??

Cmon now. You can’t be that naive.

And sexual favours are happening. You can choose to bury head in sand or see it as an assault on our society.

Bag it and tag it
Member
Bag it and tag it

Someone that actually wants price decreases, as you claim you are, does not act like you do at credible news of price reductions.

Raincity
Member
Raincity
“What about the defense that the renovated house was actually the principal residence of the guys who fixed it up, and therefore should be exempt from any tax? No more. The Canada Revenue Agency says that ship has sailed. “Individual renovators buy real estate, renovate it, live in it for a short time, and sell it so they can claim the principal residence exemption several times in their lifetimes,” says Ottawa. “The CRA acquires and analyzes third-party data and has found that some flips are not being reported or are being reported incorrectly. The profits from flipping real estate are generally considered to be fully taxable as business income. The facts of each case determine whether such profits should be reported as business income or as a capital gain In other words, the principal residence exemption is kaput. The profit… Read more »
Lost,... but not leased
Guest
Lost,... but not leased
I posted a comment on Garth’s site on this issue. In essence,,BOOMERS, in their nesting years… never had the advantage of quantitative easing(uber inflation) and cheap credit . This bad/corrupt economic policy became available “across- the- board” say in last 10 years to ALL demographic groups INCLUDING millenials. I will hazard a guess that less than 5% of BOOMERS were into RE speculation…given many still have scars for the 20+% interest rates of the early 1980’s…relieved that they were able to not foreclosed on. Let’s say fiscally conservative.at least re Real Estate as an investment vs a home. Gov ‘t created..maybe even engineered the RE mess..and in typical 3 point MARXIST tactic of (i)PROBLEM(ie create) (ii) REACTiON(create “haves” and “have nots” (iii)(SOLUTION like sneaky fart…after shitting in the societal punch bowl…dive in like a “saviour”. …..aka take down the demonized… Read more »
Just me
Guest
Just me

Hope enforcement is strict. There is a lot of dishonest tax avoidance out there.

Lost,... but not leased
Guest
Lost,... but not leased

Enforcement will be strict..

……..given in 888 days Turdeau and Keg Waiter will surrender to Glorious Emperor Xi after Ma Jong game.

Prior to firing squad…organs will be harvested so as to obtain carbon credits….

Lost,... but not leased
Guest
Lost,... but not leased

Have SIDA and See Saw waived the “white”…..err..”…..caucasian”…..err “Europa DNA ” flag yet ?

Best place on meth
Member
Best place on meth

Their flag is an open border next to a safe space.

Lost,... but not leased
Guest
Lost,... but not leased

So their proctologist moonlights as immigration consultant !?!

………or vice versa ?

“888” ……..over and out

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

Nobody understands a word you say.

Bag it and tag it
Member
Bag it and tag it

Airbnb to share host income to Danish tax authorities. If there, why not here too?
http://uk.businessinsider.com/ap-in-denmark-airbnb-to-report-hosts-rent-to-tax-authorities-2018-5

Just me
Guest
Just me

I posted the same below from BBC. Had your same reaction.
When will Canadian politicians have the guts to enforce our tax laws? And to stop the greed of homeowners and investors?

BubbleTea
Guest
BubbleTea

According to Garth: The CRA is also lowering the boom on AirBnB rental proceeds (taxed as business revenue and added to all other sources of taxable income).

Just me
Guest
Just me

Airbnb to report homeowners’ income to Danish tax authorities

http://www.bbc.com/news/business-44166174

Airbnb will automatically report homeowners’ income to tax authorities in Denmark under a landmark move.
It will make it easier to spot tax evasion by homeowners renting out rooms and properties via the site.
Danish tax minister Karsten Lauritzen said the country wants a “sharing economy” to flourish, but on condition taxes are paid.

Just me
Guest
Just me

“In addition to the issue of taxes, Airbnb is blamed for pushing up house prices in major cities and taking away business from hotels and B&B outlets.
The Denmark deal will also include limiting the number of days an owner may list a property to 70 a year. Owners will be given a tax-free allowance of up to 40,000 kroner (£4,690) a year.”

Just me
Guest
Just me

“This week, German tax officials asked Airbnb to surrender all data on its country’s users to help track down tax evaders. And in China the company has agreed to give to authorities the booking and passport details of people staying in Airbnb properties.”

Lost,... but not leased
Guest
Lost,... but not leased

FYI…..

AirBnB appears to be a Trojan Horse……”Bull Baiting “exercise….a step beyond basement suites.

For Example…COV requires ALL Air BnB units to be up to fire code….aka alarm systems etc..which would imply yearly inspections…..

” Hi..I’m Gov’t…we are here to help you “….bwhahahhahha

Get head out of ass and realize all the bread crumbs being strewn are adding up to allow Gov’t to invade/supercede your increasingly eroding privacy…….on par with if you are at a roadblock…..and peace officer….err……”law enforcement “cop asks you if you had a drink…..answering “yes” results in your surrender of all your rights…..vs “no” the cop has no grounds to pursue any further.

Bag it and tag it
Member
Bag it and tag it
Best place on meth
Member
Best place on meth

“Participants from China were found to be the least honest, with 70 per cent estimated to have lied about which side coins landed on, compared to 3.4 per cent of British participants, who emerged as the most honest in this test.”

They sound like the perfect candidates to bring to Canada as immigrants, students, housewives and business people.

The industries they would likely find the most success in their new host nation would be real estate, casinos, underground banking, undeclared harvesting and a variety of undeclared and untaxed businesses.

Please Mr. Prime Minister, let’s bring in more of these people and foster closer ties with their wonderful nation that only seeks peace, harmony, co-operation and win-win with all others.

Just me
Guest
Just me

John McCain’s Callum would approve.
And Christy Clark would chip in that”they are good for the economy”.

The economic policy of Canadian governments has appeased China lately. Rule of law, human rights and basic human decency are trampled by the fact that we “need more China”.this is not going to end well.

YVR
Guest
YVR

Carol James: “Welcome newcomers…you strengthen our province”

When is Horgan’s next trip to China?

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

Just another weekend alone for you.

Oracle
Guest
Oracle

I think it has something to do with a lack of religion in upbringing that’s sucks away any faith later in life. Becomes a simple numbers game without any empathy. It’s all about me me me.

Some may equate that with not being situationally aware when driving.

MAKE TRUDEAU A DRAMA TEACHER AGAIN
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN

Very intersted to see AIDS comments on this.

Pretty hard to argue with a scientic study but I am sure he will.

Laibach
Member
Laibach

Nothing spectacular but something in line with…” Highest priorition but still a small proportion overall. Morons generally don’t understand the difference between relative and absolute. Dumbass, moron, dumbass, moron, dumbass, racist, racist…

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

Somebody would need to post a link to the actual study first rather than an interpretation of it.

Oracle
Guest
Oracle

And who has the best societies to live in??

The British way of life is the best by far and you guys are allowing it to be ruined. Trudeau Specifically.

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

Oracle is clearly a Brit.

Just me
Guest
Just me

Worth reposting.

BC Liberals unhappy that speculation tax targets British Columbia’s 1% wealthy enough to own multiple homes

https://thinkpol.ca/2018/05/16/bc-liberals-unhappy-speculation-tax-targets-1-british-columbians-wealthy-enough-multiple-homes/

Just me
Guest
Just me
Just me
Guest
Just me

“At bottom, a current-account balance is the difference between a country’s investment and savings. When China had a big surplus, its savings, at 50% of GDP, far outstripped even its colossal investment. Data on savings are patchy in China. But it is known that investment has declined as a share of GDP. The implication is that the rate of savings has almost certainly declined more sharply, reflecting a big increase in consumption. ”

Just me
Guest
Just me

This bit is relevant for Vancouver.

“In recent years capital outflows have pressed down on the yuan, but the current-account surplus has countered that effect. In the future China will have a thinner cushion. Depending on quarterly trade swings, the yuan will be as likely to fall as to rise.”

If China wants to avoid a currency crisis and capital flight, they will have to keep capital controls. Their saving rate is going down.

The bottom line formVancouver? The next decade might see a lot less investment in RE by Chinese money launders. The tap is starting to run dry.

Oracle
Guest
Oracle

10 years??

Another 250,000 rich mainlanders too. There aren’t even that many detached homes here.

Just me
Guest
Just me

“If China’s current-account deficits become more frequent, it will have to run down its foreign assets or borrow more from abroad to pay for its consumption. Should its external liabilities—that is, money it owes the rest of the world—increase rapidly, that might signal greater financial vulnerability.”

Just me
Guest
Just me

Trump right to focus on the US-China deficit
The tactic is bad economics but good politics, forcing Beijing to meet verifiable targets

https://asia.nikkei.com/Opinion/Trump-right-to-focus-on-the-US-China-deficit2

Just me
Guest
Just me

“For better or worse, people believe Trump is willing to abandon trade deals and impose barriers unilaterally. His trade threats and promises are proving credible.”

“By contrast, China’s never-ending promises on trade have eroded its credibility. For years, Beijing has vowed to comply with international norms and level its playing field for foreign companies, but there has been little in the way of follow-through. It has pledged an “all-around opening up” even as it has maintained one of the most closed and protected economies in the world. The EU Chamber of Commerce in China recently used the phrase “promise fatigue” to describe how foreign companies view the situation.”

Best place on meth
Member
Best place on meth

“The Trump administration is demanding verifiable action and quantitative targets to prevent Chinese cheating. ”

There’s that recurring theme again…..chinese cheating.

What’s wrong with them?

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

“It’s about money, not race”, right Just Me?

Just me
Guest
Just me

Yes. Correct.

It is about money. The Chinese government is cheating to get richer.
Local millionaire migrants are cheating to avoid taxes and get rich on housing,

It is definitely about money. It is just that the cheating is currently being done by a very large group of people, for historical reasons.

Hopefully we will start enforcing our laws and forcing them to respect the law.

Stop race baiting, Henry.

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

Right, so BPOM wasn’t the one race baiting here? Just fuck off, you irrelevant toxic imbecile.

Just me
Guest
Just me

Dear Henry, there is a clear difference between race-baiting and stating facts.

it is becoming apparent that the Chinese government makes promises without keeping them. It is, in other words, untrustworthy.

Why do you refer to this simple fact as race baiting? I suspect I know….because you, dear Henry, are an angry little man who sees racism everywhere. In your opinion, we should not discuss facts if they impinge on a particular group or cultural norm.

You are probably in agreement with Jenny Kwan on this: it is indelicate to point out the misbehavior of a large group, or even a government.

Best place on meth
Member
Best place on meth

AIDS can’t logically defend that toxic, lying, cheating, barbaric culture from the communist mainland, so he angrily lashes out instead at anyone who mentions this serious, widespread deficiency in that horrible country.

And it is about culture, not race, not even money.

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

Nobody gives a fuck what racists think.

Best place on meth
Member
Best place on meth

Aww….AIDS still responds to his name, like the dog that he is.

YVR
Guest
YVR

Is Chinese a race now?

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

http://www.ohchr.org/EN/ProfessionalInterest/Pages/CERD.aspx

“In this Convention, the term “racial discrimination” shall mean any distinction, exclusion, restriction or preference based on race, colour, descent, or national or ethnic origin which has the purpose or effect of nullifying or impairing the recognition, enjoyment or exercise, on an equal footing, of human rights and fundamental freedoms in the political, economic, social, cultural or any other field of public life.”

Just me
Guest
Just me

Funny. It does not say anything about condoning cheating, lying and criminal activities in the name of cultural sensitivities.

Can you direct me to that bit?

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

Moving the goalposts is the only think you’re good at, racist. I thought it was just about the money? Nothing you say is consistent with somebody who holds that opinion.

Just me
Guest
Just me

Ok, we are back at insults again. And accusing other of racism.

Same old, same old.

Henry, learn some new tricks, come on….

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

You’ll continue to be insulted because racists do not deserve an ounce of respect. Now fuck off.

YVR
Guest
YVR

What do you call this?

“NAACP leader’s racial profiling claim challenged after bodycam footage released”

http://www.foxnews.com/us/2018/05/20/naacp-leaders-racial-profiling-claim-challenged-after-bodycam-footage-released.html

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

What exactly are you trying to say, dumbass?

Just me
Guest
Just me

“Yet Trump’s deficit obsession dovetails nicely with the problem of Chinese credibility. The Trump administration is demanding verifiable action and quantitative targets to prevent Chinese cheating. Given the long term history of non-tariff barriers and administrative measures Beijing has imposed to hinder foreign competition, this is not an unfounded concern.

Verifiability seems to be driving the Trump administration’s focus on deficit reduction via increased exports. Beijing has used non-tariff barriers extensively to target foreign goods, so reaching an agreement to lower them now would only invite the appearance of new ones that would take additional time to dismantle. Exports have the benefit of providing the basis for a clear quantifiable target which both parties can observe.”

Just me
Guest
Just me

Vision Vancouver nomination contender Ian Campbell linked to two massive property plays

https://www.straight.com/news/1075561/vision-vancouver-nomination-contender-ian-campbell-linked-two-massive-property-plays

Just me
Guest
Just me

“Campbell’s Squamish Nation is co-owner of the Heather and Jericho Lands, which are slated for future developments.”

“The Heather Lands is now owned by the federal Canada Lands Company, and the Musqueam Indian Band, Squamish Nation and Tsleil-Waututh Nation, which are represented by the MST Development Corporation.

The draft statement for the Heather Lands proposes a mainly residential development, which include towers ranging in heights from 12 storeys to 24 storeys.”

Just me
Guest
Just me

“Campbell’s Squamish Nation is co-owner with the Musqueam Indian Band and Tsleil-Waututh Nation of the 36-hectare property overlooking Jericho Beach Park.

When the three First Nations acquired a portion of the land from the province in 2016, Campbell was among those quoted in a news release regarding the purchase.”

Just me
Guest
Just me

This is the cherry on the cake:

“In 2015, Ian Campbell spoke at the Vancouver Aboriginal Friendship Centre on behalf of Jenny Kwan’s bid for the NDP nomination in Vancouver East.”

We all know where Jenny Kwan stands on real estate, speculation and money laundering.

She is not shy to e press her cultural sensitivities.

She represents Van East but lives in Kits in a very nice home.

All in
Guest
All in
Just me
Guest
Just me

Thanks. She bought a SFH in Kits for 2 million dollars in 2014. It is probably worth more than 3 million right now.

Anybody has any doubts where she stands on the housing debate?

Party lines are imperfect, and we should’ve support people who want lower prices, whatever the party. Jenny Kwan is just example of the hypocrisy of our politicians.

All the more reason to support and throw our weight behind David Eby: he is almost unique in his honesty and determination.

YVR
Guest
YVR

“Anybody has any doubts where she stands on the housing debate?”

Not much different between her and the current NDP. The current housing minister Selana owns a SFH in both Coquitlam and Victoria. Then you have Horgan who owns 2 houses and Carol James 2 houses. Spencer Chandra Herbert owns 4 properties. Eby recently bought a property in Victoria so it could sit empty most of year while he is supposedly represents Point Gray. All these toothless measures are by design.

YVR
Guest
YVR

NDP’s bold brand is starting to wear thin

By no stretch of the imagination can the latest moves by the B.C. government on housing affordability be considered “bold.”

http://www.vancourier.com/opinion/ndp-s-bold-brand-is-starting-to-wear-thin-1.23280324

Just me
Guest
Just me

Perhaps not bold enough, I agree.

But way better than policies that actuallly promote housing and push prices even higher. Like the ones of the BC Libs.

In Point Grey, Wilkinson is supporting the homeowners. You draw your own conclusions.

Bag it and tag it
Member
Bag it and tag it

Then why is the RE industry freaking out?
OK, so let’s have it your way then. You don’t think they doing enough..so .we’ll vote in the Liberals since Wilky has promised to cancel all measures implemented. Am I missing something?

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

The industry isn’t freaking out. That’s your interpretation only.

Oracle
Guest
Oracle

Bingo.

No hope since the minions here don’t even know what is going on.

Pathetic.

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

Just Me lusts after a $2m home in Kits.

Just me
Guest
Just me

“Vancouver-Mount Pleasant MLA Jenny Kwan bought the house, near Kitsilano Secondary, for $1.938 million late last year after separating from her husband, Dan Small.”

“Kwan’s riding includes Vancouver’s Downtown Eastside, one of the poorest neighbourhoods in Canada. She has represented the area since 1996.”

Just me
Guest
Just me

“Kwan returned to the legislature on Wednesday after being caught up in a spending scandal involving her family’s vacation expenses being paid by a Downtown Eastside charitable organization that provides housing and addiction services to the poor.”

“Government auditors had flagged the trips for lavish expenses, including a hotel room in the United Kingdom that cost $884 per night, a $65 charge for flowers to the room, as well as alcohol and spa service in another instance.

The Disneyland trip for Kwan and her family included a room upgrade at the Grand Californian Hotel & Spa worth $2,695, which Kwan said her husband told her he had paid, but which actually had been billed back to the charity.”

Just me
Guest
Just me

Jenny Kwan is also on record saying that “Chinese people are very private about their money”. And that new laws and regulations requiring disclosure of ownership, income and other financial details are “culturally insensitive”.

There you go. Vote for her if you want to. I would rather cut my foot than paying for the pension and salary of this person.

All in
Guest
All in
YVR
Guest
YVR

NDP corruption.

As The Province reported last year, in July 2011 Harcourt — one of Vision Mayor Gregor Robertson’s key advisers — jointly purchased a home in the 2800-block West 1st Avenue for $2.8 million with his son Justen, a real estate consultant. The property is at the intersection of West 1st and Point Grey Road…After several years of development moves the Harcourts’ lot — which was advertised as “waterfront” — is now the picture of tranquillity. The property was being shown Thursday, at a listed price of $9.988 million.

YVR
Guest
YVR

In April 2014, without disclosing his ownership interest in a Point Grey Road bike lane lot, Harcourt — a former Vancouver mayor and NDP premier of B.C. — applauded council’s controversial road closure in a letter to the Vancouver Sun.

“The present Vision council has closed Point Grey Road from McDonald to Alma to through traffic and opened this stretch to pedestrians, joggers, baby pram pushers, bicycles, and local traffic. This act by the current city council brought to completion the April 6, 1886 vision started by our first council — to open Vancouver’s waterfront to all our people.”

Just me
Guest
Just me

Harcourt is, in my view, a crook. He and his son made some really shady deals, and they came out as multi-millionaires.

I do not believe Eby condones that, nor should we. Unlike you, other people are able to take a stand regardless of political colors.

Harcourt is as bad as Christy Clark, Gregor Robinson, and Andrew Wilkinson. We should judge people on behavior, not party allegiance.

What matters is their real actions on housing. That is the real meter of judgment in this vastly corrupt city.

YVR
Guest
YVR

“I do not believe Eby condones that”

I don’t recall Eby naming any of these NDP crooks in his speeches. He did state last year the Liberals were corrupt for taking developer donations and then not putting the foreign buyers tax on presales. Then Eby accepts a $500K donation from developers and exempts presales from the revised NDP foreign buyers tax. You do the math. We won’t know about the full extent of Eby’s corruption until he is out of power. Just like Harcourt. But so far he looks worse.

Just me
Guest
Just me

Surely you have proof of your donations, which in your mind went personally to Eby. Can you provide such evidence, with details of Eby’s involvement,

As for criticizing others, Eby criticized the ones in power at the time. Jenny Kwan, however unpleasant as a person, never had any power (which is probably for the best).

Lost,... but not leased
Guest
Lost,... but not leased

I’ve never known of starving NDP politician….they tend to float like turds …..

Eby ” may” have had altruism as his goal….but like typical NDP…usually F*k up once they get their historical default run in power.

The FACT he is a lawyer could be even more indicting…given all the NDP promises…and he likely knew from DAY ONE what the NDP” could” versus “should” do on such issue such as the housing front.

Just me
Guest
Just me

As usual, it is all relative.

Do you think we would be better off with a Wilkinson?

YVR
Guest
YVR

Housing issue haunts B.C. NDP

More than a year has passed since the election that eventually led to the B.C. NDP forming government, and there are signs the issue the party rode to victory may be coming back to haunt it. That issue is “affordability,” and the NDP exploited it to the hilt when it was in opposition… The next election is likely still three years away. Here’s betting the affordability crisis won’t be solved by then, and we’ll see then if the issue exploited so well by the NDP in the last election doesn’t become a political albatross around its neck the next time voters head to the polls.

http://www.burnabynow.com/opinion/columnists/opinion-housing-issue-haunts-b-c-ndp-1.23305545

Just me
Guest
Just me

So, the NDP better get on with tax laws on housing. I broadly agree they should speed things up.

As we said many times, people will support whichever party will lead to lower house prices. Significantly lower.

YVR
Guest
YVR

“So, the NDP better get on with tax laws on housing.”

You think so? You mean all the speeches, studies and toothless measures with loopholes built in are not going to solve the issue?

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

Maybe they’ll learn how to run a model before they get booted out? They admitted that they’ve got no idea what affect their changes will bring. Imagine trying that excuse on the private sector.

Bestplaceonearth
Guest
Bestplaceonearth

They have to form committee to study the models first.

Oracle
Guest
Oracle

Dude. Speed things up.

We are in year 2!! Referendum fails and election within 6 months.

bestplaceonearth
Guest
bestplaceonearth

whatever the price might be, you will not be able to move from your basement to a condo in China town, not to mention a place in Point Grey. Stop dreaming! bhahahahaha!

Just me
Guest
Just me

And yes, reducing house prices will require a bit of economic pain. So be it.

You can not make a delicious omelette without breaking eggs.

It is worth it,. The guy writing that article is dead wrong.

bestplaceonearth
Guest
bestplaceonearth

It’s call egg liquid, stupid! See, I told you, you cannot see pass your zipper.
If there is economic pain, you think you would be immune?
Your NDP will be history when the next election comes around, or sooner. The reason it’s in power right now because the Green allows it and holds the NDP by the balls. Never before BC is so isolated, thanks to your NDP.

Just me
Guest
Just me

Happy to pay a price, be it a recession or other. The lower prices more than make up for any losses. Especially if the criminals from the Mainland leave Vancouver.

Bestplaceonearth
Guest
Bestplaceonearth

Of course the underemployed will be happy because the Robinhood tax only increases the welfare rate for them, and more free needles to the addicts.

Just me
Guest
Just me

Do you even know you make no sense? Needles? Welfare? What are you on about?

Best place on meth
Member
Best place on meth

If you don’t give clean needles to addicts they’ll get AIDS.

No person or blog should have to live with AIDS.

YVR
Guest
YVR

Weaver says new housing taxes more cash cow than crisis solver

The last time a B.C. NDP government brought in a tax surcharge on high-value homes, the move was both ideologically driven and wrong-headed.“ We let our doctrinal beliefs about ‘the wealthy must pay’ blind us to reality,” wrote then-Premier Mike Harcourt in a memoir published after he left office. “The basic premise of why we were doing this had more to do with left-wing bias than shrewd political thinking.” The Harcourt government announced the surcharge on the school portion of property taxes on budget day in 1993, then abandoned it a week later in the face of a brewing tax revolt on the west side of Vancouver.

http://vancouversun.com/opinion/columnists/vaughn-palmer-weaver-says-new-housing-taxes-more-cash-cow-than-crisis-solver

YVR
Guest
YVR

the NDP’s partner in power sharing, Green leader Andrew Weaver, has shed some light on the flawed thinking behind the latest changes in housing taxes.

He’s branded the package in this year’s NDP budget as less a set of measures to solve the housing crisis than “a cash cow … a way of actually grabbing cash.” He blistered the speculation tax, now partly abandoned, as made up on the fly and having little to do with actual speculation.

Just me
Guest
Just me

Perhaps Weaver should not vote for those measures. But he will.

As for their effectiveness, everything can be improved. I see these as just a start in the right direction. But if we had the BCL Libs in power we would actually be moving full steam in the opposite direction, with even more pro-housing measures. Everything is relative in life.

YVR
Guest
YVR

The measures are a tax grab in guise of doing something for housing affordability. They will do nothing to make housing more affordable.

Just me
Guest
Just me

Why are developed and RE agents up in arms then?

Stop writing nonsense.

YVR
Guest
YVR

Because many of them own properties over $3M and they don’t want to pay the tax.

Just me
Guest
Just me

And now think: if you have multiple investments and one of them get taxed more heavily, what do you do?

bestplaceonearth
Guest
bestplaceonearth

Your tofu brain need to see the difference between primary residences vs. investment. The reason people in Point Grey are angry to the wealth tax because most of them are retired with pension incomes, who already contributed enough to the system. Stop being jealous, and enjoy your basement dwelling life!

Just me
Guest
Just me

Those people are effectively behaving like investors.

Many of them would normally downsize in old age. The main reason they are not doing it this time is because they are hoping to cash in even more eventually.

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

It’s only fair that a have-not gets to reach into their pocket. You’re entitled to a house on Stephens, after all. You think you’ve worked hard and anything else would be “unfair”.

Just me
Guest
Just me

I certainly think that many investors have made fortune without working at all.

And many others made money criminally or elsewhere, while getting all protections of law over here.

If you think the last 10 years of gains are all normal, legitimate and fair, you are delusional.

Bestplaceonearth
Guest
Bestplaceonearth

Yeah, nothing pleases the stupid bears more than putting their paws to the people pocket and steal their money. Unlucky for bears, people will hold closed to their pockets.

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

It’s fair. Pretty much anybody with a pulse could obtain a mortgage these last few years. Nobody was unfairly excluded from the ridiculous game. Why on earth would it be unfair?

Just me
Guest
Just me

Because it was rewarding gambling, money laundering and people who did not save but just took chances.

What is fair about a market where valuations are pushed up by leveraging gamblers and foreign money launderers?

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

It wasn’t gambling. They just knew how to do a buy vs rent whereas you were – and still are – clueless.

Best place on meth
Member
Best place on meth

Stop whining, the greedy old bastards can defer until they sell or die.

Hopefully one or the other is just around the corner.

Bestplaceonearth
Guest
Bestplaceonearth

Had you worked hard like them, you would have known that enough taxes are paid and more taxes will destroy the economy. But I don’t expect you to know, it’s not your money, so of course, you want more.

YVR
Guest
YVR

The tax is too low to make any difference other than piss people off who have to pay it. Kind of like the new carbon tax on gas. These are tax grabs is guise of housing affordability and saving the planet. The school tax will not make housing more affordable and the carbon tax will not reduce climate change. This is all spin to fool naive people like you into supporting tax increases.

Oracle
Guest
Oracle

Reread this just me.

If they wanted to solve housing. It would have been done by now.

A fucking year has passed.

I’m not voting for these Guys again. Let the place go to hell.

Bag it and tag it
Member
Bag it and tag it

Nobody wants to pay taxes, which is the point of taxes….to discourage behaviour…so you either pay the tax, or you sell your house, or you rent it out. The government is fine with any of those options.

YVR
Guest
YVR

If they raised income taxes by a fraction of a percent on top income earners would they all quit their jobs or would people stop taking those jobs? No, and this house tax will not cause people to sell or discourage buyers. Make it 10% per year on the value over $3M and you may have a bold measure. Take away the capital gains exemption past $1M and you have a bold measure. This is meaningless token measure that will have zero impact.

Just me
Guest
Just me

That is exactly the point. We work to live so our behaviour will not change. But the housing investors do have other options. They can save in other assets.

It will have an impact. It is already happening. And the fact you don’t want to see it does not make it any less real.

bestplaceonearth
Guest
bestplaceonearth

This Robinhood tax will do nothing for affordability. The affordable train has long left the station, and the jealous people are being angry all the time for missing the boat! Bhahahaha!

Just me
Guest
Just me

If it’s so irrelevant why oppose it so viciously?

You guys know this measures hit speculators and money launderers where it hurts. That is why we see so much opposition to them.

Just the registry of owners alone will have a massive effect.

Bestplaceonearth
Guest
Bestplaceonearth

Wrong! This lousy measure hits the local residents the most, and destroy the BC economy. And your tofu brain still dwells in the basement, the NDP is not here to rescue you.

Just me
Guest
Just me

“This lousy measure hits the local residents the most, and destroy the BC economy.”

Wrong. As it has been shown many times, less than 1% of B.C. residents will pay the extra school tax.

It just so happens their all in Point Grey.

As for non-residents, I think they should pay the tax. Housing is scarce in the city: you want the luxury, you pay the price.

Bestplaceonearth
Guest
Bestplaceonearth

Is that one percent from the NDP loud mouth? Then I got a farm to sell.
“You want the luxury, you pay the price”. Finally you are not as dumb as you sound, but why stupid bears keep demand cheap housing in Vancouver?

Just me
Guest
Just me

Inform yourself. The shar3 of B.C. voters paying the price is tiny.

Much of it targets non residents.

And the price argument cuts both ways. Cannot pay the price? The leave, like the B.C. Libs used to say.

Bestplaceonearth
Guest
Bestplaceonearth

Of course, you got nothing to pay in the wealth tax, so it’s nothing to you. But the Robinhood tax can worth a month of pension to someone else. The reason you failed, because you can only see the issue within your tofu brain.

Just me
Guest
Just me

That pensioner can defer the tax. Until he dies. What else does he need? That I pay his health care costs while he passes over a few ,Illinois to his offspring?

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

The obvious difference is that those who bought didn’t do so with the expectation of future losers trying to take what’s not theirs. The NDP will simply piss away all the extra revenue on their own wastefulness anyway. It really is an envy tax.

Just me
Guest
Just me

They are called taxes. If you make money on your non-housing assets, you pay them. So should housing income.

And no, the guys who went all out on housing did not expect taxes because the previous, corrupt government led them to believe that housing is a zona franca where no heavy taxes are applied and where even the source of funds can be dodgy. Housing was granted impunity status and an opacityof ownership worth of third world country.

Millionaire migrants are fast transforming us into an unequal, corrupt third world city.

Lost,... but not leased
Guest
Lost,... but not leased

Andrew “Dream” Weaver….bwhahahahaha

Seems like Mr. Global Warming is into some REAL math…called probability and stats……realizing the olde adage of “sleep with (NDP)dogs = bound to get fleas.

NDP 3.0 are outdoing NDP 1.0 and NDP 2.0…….Weaver realizes NDP 3.0 is simply ideology with no substance….and people are pissed off with the class warfare in place..and that it was Weaver( and Guichon) that enabled the NDP 3.0 to wreak havoc on innocent parties.

Greens are going down…..

Lost,... but not leased
Guest
Lost,... but not leased

NDP 3.0 F*cked up royally

Reviewing Ross Kay podcasts one can surmise that Real Estate boards have infested general public with Frankennumbers………

……….if NDP had simply legislated 100% transparency…the NDP would have come out more like heros…not ZER-OWES with Comrade Weaver shitting his panties…

Oracle
Guest
Oracle

Looks like B20 didn’t solve anything.

It’s almost June.

All that talk wasted.

Bestplaceonearth
Guest
Bestplaceonearth

Banks just have to find ways to lend out money. Prime minus one is up for grab easily. And stupid bears say rates only goes up. Hahahaha .

Just me
Guest
Just me

And yet, sales still suck.

Imagine if they were tightening…..

Bestplaceonearth
Guest
Bestplaceonearth

They have been tightening, stupid. But, I would not expect you knowing anything about how difficult it is to apply for a mortgage.

Oracle
Guest
Oracle

Yeah sure they are you moron.

Variable can be had for 2.15%. And the maximum hiking they are estimating at Bank of Canada is 3. So a maximum rate of 2.9% before a recession hits.

Or you can believe Martians are landing on he White House lawn and say wait till rates are 10%. Hahahaha

You guys crack me up with your economic analysis.

Just me
Guest
Just me

You mean now you have to show evidence you actually have a locali income to get a mortgage? Shocking, truly shocking.

Bestplaceonearth
Guest
Bestplaceonearth

If you don’t know it, don’t say anything, noone would think you are mute.

Oracle
Guest
Oracle

It’s BS. Banks never Check income with Rvenue Canada. All liar loans. Otherwise market would collapse

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

They do check.

Oracle
Guest
Oracle

No they don’t.

Show me a link where it’s mandatory.

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

I can’t say it’s mandatory, but they do check some. I don’t know what the criteria are, however.

Oracle
Guest
Oracle

No on wants to sell because they anticipate a more severe housing crunch coming.

You do know we are at record levels for immigration? Don’t you?

No Chump
Guest
No Chump

More BS, Oracle. Detached sales are down 53%.

Oracle
Guest
Oracle

people don’t buy $2 million dollar homes with mortgages.

Just me
Guest
Just me

Sounds familiar?

UK turns blind eye to dirty Russian money, say MPs

http://www.bbc.com/news/business-44191682

Best place on meth
Member
Best place on meth
Vancouver homeseller boasts of making $92,500 from Airbnb last year https://thinkpol.ca/2018/05/20/vancouver-homeseller-boasts-making-92500-airbnb-last-year/ “The listing realtor should not be advertising illegal activities on MLS listings,” the industry insider who did not wish to be identified said. “But the fact he’s doing it without any fear is a clear indication that neither the City of Vancouver nor Real Estate Council of BC is interested in enforcing any laws that hurt Airbnb profits.” Under the bylaws in place in Vancouver in 2017, homeowners were not allowed to offer entire units as short term rentals. Even under the new laws that came into force on April 19, secondary suits and multiple unit rentals by a single host is prohibited[5]. “I have done my part and reported the homeowner to the CRA,” industry insider said. “She should not be claiming the principal residence exemption on the… Read more »
Just me
Guest
Just me

And it is publicly available info. Isn’t there an obligation to pursue this on the city and CRA? Have we become a Mickey Mouse country, where there is not enough staff to take care of daylight robbery?

Simple Solution
Member
Simple Solution

Full on banana republic

realist
Member
realist

Tax evasion connected with real estate is so extensive, pervasive, and long-standing that mere incompetence and dereliction of duty on the part of CRA are insufficient to explain it. See Ian Young SCMP 2016:
http://www.scmp.com/news/world/united-states-canada/article/2005794/canada-tax-chiefs-knew-foreign-moneys-big-role

CRA221
Guest
CRA221

CRA is not proactive in this regard, but I’ve found that they will follow up on tips from the public. If you’re browsing listings where they talk about rental income or airbnb you can send a lead to them on the internet. Same with BC assessment flips where people are obviously not living in the properties.

Laibach
Member
Laibach

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].”

https://thinkpol.ca/2018/02/15/richmond-realtor-helps-daughter-make-205000-profit-misconduct-receives-5000-fine/

Just me
Guest
Just me

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.

Oracle
Guest
Oracle

Note Indian kids faces are plastered all over the news yet the library kicker roams free.

realist
Member
realist

Perhaps because the Indians (from the subcontinent) have not developed the propaganda machine that the Chinese Communists have at their disposal?

Best place on meth
Member
Best place on meth

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.

realist
Member
realist

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.

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

What crime was committed?

Just me
Guest
Just me

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.

Simple Solution
Member
Simple Solution

when dealing with the mainlanders there cannot be conflict of interest. The ONLY interest they are concerned about are their own…

bullwhip29
Guest
bullwhip29

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

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

If you can provide any sources at all which confirm that a crime was indeed committed that would be fabulous.

All in
Guest
All in

Are you that thick?

Conflict of Interest.
Fined $5,000
No crime no fine. Sounds like a crime to me…

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

Feel free to provide a link to the relevant law(s) that make failure to disclose a conflict of interest a crime.

KickThemOut
Member
KickThemOut

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.

KickThemOut
Member
KickThemOut

VCI Real Estate Act of 2005. Act sponsors BPOM & Patriotz, seconded by Mohican (whoever that is).

bullwhip29
Guest
bullwhip29

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

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

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.

Just me
Guest
Just me

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.

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

Against the industry’s rules and regulations doesn’t mean criminal.

So was a crime committed? Yes or no?

Just me
Guest
Just me

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.

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

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.

YVR
Guest
YVR

“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 place on meth
Member
Best place on meth

BEST IMMIGRANT GROUP EVER!!!

Oracle
Guest
Oracle

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.

Name
Guest
Name

How about you stop calling other posters “ morons” then?

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

Sock puppets are exempt, apparently.

Oracle
Guest
Oracle

Ok

bullwhip29
Guest
bullwhip29

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

Lost,... but not leased
Guest
Lost,... but not leased

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,

Lost,... but not leased
Guest
Lost,... but not leased

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….

All in
Guest
All in

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.

No Chump
Guest
No Chump

Yup. Just like Sam Cooper and Ian Young.

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

You know it’s possible to hire people to manage your AirBnb?

Oracle
Guest
Oracle

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.

Shut It Down Already
Member
Shut It Down Already
Best place on meth
Member
Best place on meth

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!

Just me
Guest
Just me

“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.

YVR
Guest
YVR

“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.

Just me
Guest
Just me

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.

YVR
Guest
YVR

“The Bc Libs are tough on Chinese money launderers.”

They were tougher than Eby. These stats prove that.

Name
Guest
Name

It’s hard to believe even you believe your own shit.

YVR
Guest
YVR

“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?

Just me
Guest
Just me

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.

Oracle
Guest
Oracle

Lol. Inflation.
Lol

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

Lol. 50%/year rent increases in Surrey. Lol.

Best place on meth
Member
Best place on meth

6080 VICTORIA DR

Original Price $1,388,900

Sale Price $1,225,000

Buyers thinking twice before paying full price for a total dump?