Friday free-for-all! May 11th 2018

Its that time of the week again, free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend. Here are a few recent links to kick off the chat:

realtors, developers brace for crash

86% want to curb foreign speculation

gov introduces presales registry bill

vancouver luxury market worst on continent

unexplained money

cut condo flipper taxes in half

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!

510 Comments
newest
oldest most voted
Inline Feedbacks
View all comments
trackback

[…] Myraandrews has gone through Paul’s numbers and it looks like that’s the case: […]

bullwhip29
bullwhip29
2 years ago

Vancouver couple sues makers of ‘Love It or List It’ over alleged reno ‘defects’
https://www.ctvnews.ca/lifestyle/vancouver-couple-sues-makers-of-love-it-or-list-it-over-alleged-reno-defects-1.3930849

>>> it makes me wonder though, if these owners had been a position to hand off this hot potato for a very handsome gain, would any of these so called life threatening deficiencies seen the light of day?

Name
Name
2 years ago
Reply to  bullwhip29

What are these ‘deficiencies? No specifics are given.

bullwhip29
bullwhip29
2 years ago
Reply to  Name

come to think of it, owners are probably just crying foul because they didn’t get “lift” in property value that all the so called experts said was a sure thing.

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  bullwhip29

Probably SIDA(original) relatives..

…..probably called the defendants dumbass mofo racists(not necessarily in that order) ..

……..but the again, the SIDA DNA never cites actual proof….

KickThemOut
KickThemOut
2 years ago
Name
Name
2 years ago
Reply to  KickThemOut

Amazon should get together with the millionaire westside homeowners and they can complain about trivial taxation together.

Whistler or Bust?
Whistler or Bust?
2 years ago

Cdn 5 yr. 2.31% (0.75% not long ago)
US 10 3.07%

Poloz thinks he’s driving the bus. He’s a child in his Mom’s car with a plastic steering wheel.

The bond market will decide where the interest rates go.

Oracle
Oracle
2 years ago

There is a ceiling. We are not far away based on long bond.

But whatever we can do to make the ignorant happy. You bulls can have your way with them.

You really don’t even have to try that hard Whiatker.

avgjoevancity
avgjoevancity
2 years ago
Reply to  Oracle

you mean the ceiling of the Cdn. 10 year bond yield that went up tody too….lol

Name
Name
2 years ago
Reply to  avgjoevancity

ya the ceiling is getting higher …

bullwhip29
bullwhip29
2 years ago
Reply to  Name

the “crass” ceiling, right SIDA?

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  bullwhip29

SIDA’s debating(?!?) inventory is based on monosyllabic terms…like “dumb”…..”ass” and a potpourri of 4 letter words.

bullwhip29
bullwhip29
2 years ago

next thread to be titled, “Housewives and students protest exorbitant unfair tax” … 😉

bullwhip29
bullwhip29
2 years ago

Michael Wing Sing Fan, the man charged in connection with the 2016 crash that killed cyclist Bradley Dean has pleaded guilty to driving without due care and attention
https://bc.ctvnews.ca/driver-pleads-guilty-in-richmond-crash-that-killed-cyclist-1.3930502

The Crown has asked that Fan be given an $1,800 fine and one-year driving prohibition

Just me
Just me
2 years ago
Reply to  bullwhip29

” The court heard Fan spent the night before the crash drinking at a party and then going to the Starlight Casino, and that he hadn’t slept when he got behind the wheel.

He wasn’t drunk, however, and blew a 0.014 blood alcohol level when given a breathalyzer test.

Police said he fell asleep in the back of their cruiser on the way back to the detachment.”

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

Again, the toxic implication that these actions were a consequence of ethnicity.

Why not post about the dozens of others who have been convicted of death by dangerous driving or impaired driving? It’s almost like you single certain types of people out. Hmm.

bullwhip29
bullwhip29
2 years ago

It’s almost like there are different rules (or lack thereof) for certain types of people . Hmm.

Name
Name
2 years ago
Reply to  bullwhip29

http://vancouversun.com/news/local-news/teen-who-crashed-mercedes-at-250-kmh-in-vancouver-avoids-jail-time

this guy never went to jail either. We ever did hear if he got deported.

bullwhip29
bullwhip29
2 years ago

yes, find ONE example of an asian driver who got thrown in the slammer for being a jacka$$ behind the wheel (or anywhere else for that matter) and get back back to me…

Lost,... but not leased
Lost,... but not leased
2 years ago

This is a no brainer..

It is well documented that these foreign locusts driving skills immediately deteriorate primarily due to existence of a windshield.

Just me
Just me
2 years ago
Reply to  bullwhip29

” Dean’s loved ones have said the crash left them devastated. Days after his death, his wife, Adele Esnault-Oka, learned she was pregnant with his baby.

Dean’s friend, Chris Jameson, was one of the two cyclists left severely injured by the crash, and missed the birth of his own son because of the months he had to spend recovering in hospital.”

Laibach
Laibach
2 years ago
Reply to  bullwhip29

How to even comment this? One is just left speechless while feeling a bloody pain after being slapped in the face.

bullwhip29
bullwhip29
2 years ago
bullwhip29
bullwhip29
2 years ago
Reply to  bullwhip29

– A foreign buyer is claiming that the B.C. property transfer tax for foreign buyers is unlawful and discriminatory, and she’s setting in motion what could become a class action lawsuit; she also represents all foreign buyers who paid the tax and who would become part of a potential class action

Name
Name
2 years ago
Reply to  bullwhip29

These people should just be grateful we allow them here at all and they should stop being troublemakers.

Laibach
Laibach
2 years ago
Reply to  Name

They are feeling entitled, superior and above the rest of us, therefore, act accordingly. Their value system is purely materialistic in the most primitive shape.

bullwhip29
bullwhip29
2 years ago
Reply to  Laibach

and our teary eyed prime minister with chequebook in hand will fall for it hook, line and sinker…

the wild card in all this is how many “prospective” foreign buyers will claim they missed out on an opportunity and also demand compensation? think hypothetical gain on RE purchased PLUS theoretical return on investment on funds that could have been used for other purposes. for that matter, how many random folks will come forward and demand their share of the loot to compensate for emotional damages just because they can?

bullwhip29
bullwhip29
2 years ago
Reply to  bullwhip29

– the Class Proceedings Act is currently being amended to automatically include non-residents in a class action

– this case is so big and important – regardless of who loses, the case is going to be appealed, and it will go to the court of appeal. And it may eventually end up at the Supreme Court of Canada

bullwhip29
bullwhip29
2 years ago
Reply to  bullwhip29

– Experts who’ve submitted testimony on behalf of Ms. Li include University of B.C. professors, economist Tom Davidoff, associate professor of sociology Nathanael Lauster and history professor Henry Yu, as well as mathematician and data analyst Jens von Bergmann, who is a consultant. UBC economist Tsur Somerville and Simon Fraser finance professor Andrey Pavlov have submitted affidavits on behalf of the province. It’s a point of interest that the two lead economists on the proposed B.C. Housing Affordability Fund – Prof. Davidoff and Prof. Somerville – have filed affidavits for opposing sides in the case

bullwhip29
bullwhip29
2 years ago
Reply to  bullwhip29

– The province has a lot at stake. A loss for the province would mean substantial repayments to all those who’ve paid the tax

– The summary trial for the case runs the week of June 25, and again on July 16

Laibach
Laibach
2 years ago
Reply to  bullwhip29

Legislation should have banned the foreign ownership and get done with the bullshit. Locusts will definitely go all the way in to get it their way and destroy whatever is left of Canada. How do you protect one small country from invasion from another country with a countless supply of people? Either you go to war or use the legal system to protect the country.

bullwhip29
bullwhip29
2 years ago
Reply to  Laibach

agreed. it is only a question of WHEN not IF this gets turned on its head given that trudeau and ottawa would certainly intervene should things get thrown up to the highest court. maybe all these mistreated owners will even go so far as to rub salt in the wound and demand compensation on top of FBT funds which will be repaid while those that supposedly missed out on various opportunities due to the additional punitive costs will suddenly ooze out of the woodwork and hop on board as well.

Name
Name
2 years ago

Baby boomers driving up price of recreational homes in BC, says report

http://www.news1130.com/2018/05/15/baby-boomers-recreational-homes/

this sounds like total BS and look who the source is… Re/Max.

Hyper-mega-Bull
Hyper-mega-Bull
2 years ago
Reply to  Name

REBGV, large real estate firms, and banks have all given good advice on the markets and had had accurate predictions. much more accurate than all the bears here who have been wrong for 15 years.

15 freaking years!

Name
Name
2 years ago

what “good advice” is that ? Buy a house? they always say that.

Royce McC
Royce McC
2 years ago

This kind of triumphalism is grotesque. The vast majority of those bears you think have been “wrong for 15 years” and are being screwed by the status quo in housing were still in school for large swaths of that time frame – including even elementary school.

These people (who are growing in numbers) are going to torch the predecessors who’ve screwed them on this file through their voting choices, their indifference (or hostility) to the essential service needs of an aging population, and/ or their willingness to even stay here.

I don’t know if it will come fast or slow, but (metaphorical) knives will be out for people like the school tax complainers in Point Grey, whose grievances play like a farce even before you account for all of the tax coddling their real estate receives.

Hyper-mega-Bull
Hyper-mega-Bull
2 years ago
Reply to  Royce McC

if you want to fix the housing market you need to understand the housing market.

you don”t understand the market by listening to people who have no fucking clue and have been wrong about it for 15 years.

Royce McC
Royce McC
2 years ago

Except you said “all the bears here who have been wrong for 15 years”. And I’m sure you’ve made this assertion at least 100 other times here. And there are a great many people crowing about the ongoing wrongness of imagined basement dwellers who bet wrong circa 2003, as if THAT is who on the other side of the equation.

My point still stands: your point of view – your triumphalism – and your failure to understand who is actually on the other side of this real estate status quo is insulting, ridiculous, and will work STRONGLY against your own interests long-term.

Royce McC
Royce McC
2 years ago

Also, the profanity added a lot to your argument. You should keep it up.

Oracle
Oracle
2 years ago
Reply to  Name

They want people like Just Me to buy this BS and repost it.

Oracle
Oracle
2 years ago

Bank sources also telling me that The Big Banks are slashing variable rates. To prevent mortgage shock. At renewal. Can get it at 2.15%.

Fixed 5 year best right now at 3.05%

Name
Name
2 years ago
Reply to  Oracle

keep pumping there buddy. “sources” LOL.

Oracle
Oracle
2 years ago
Reply to  Name

Ok then.

No variables exist. Only 5 year at posted bank rates. Woohoo!

Happy now?

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Oracle

5 years variable closed at TD 2.45%! Bears keep selling fear to their own souls that rates always go up!

Oracle
Oracle
2 years ago

5 year yield at 2.31%.

At this rate and trend we can expect 25% by December. Woohoo.

Hahaha

KickThemOut
KickThemOut
2 years ago

Alibaba says to Trudeau – Open Sesame!
Trudeau says – Yes Sir and how wide?

http://dailyhive.com/vancouver/alibaba-vancouver-office

Laibach
Laibach
2 years ago
Reply to  KickThemOut

Here we go Istuary Innovation Labs all over again. This town is totally fucked up…

http://www.cbc.ca/news/canada/british-columbia/lawsuits-allege-vancouver-tech-company-a-ponzi-scheme-and-sham-1.4310897

Name
Name
2 years ago
Reply to  Laibach

I don’t believe Ailbaba will ever open any office here. I also don’t believe Amazon will ever hire 3,000 new employees. These companies are a bunch of blowhards trying to pump themselves up. Microsoft has also made grand promises over the years and they never really pan out but no ever notices.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Name

I guess you’d prefer it if Sears were still there?

Laibach
Laibach
2 years ago

What’s wrong with Sears, the part of a middle-class lifestyle for the local working Canadians? Certainly, you find Holt Renfrew, Nordstrom, Prada, Vuitton, Gucci, Miele shops to be more suitable for the preferable inhabitants of Vancouver.

bullwhip29
bullwhip29
2 years ago
Reply to  Name

it could be the other way around here and nothing more than a nice photo op for all involved. at best they are talking about a small satellite office. whether this opens the doors for something more disruptive or is only being done for optics reasons, we will have to wait until there is more info…

Just me
Just me
2 years ago

Average house price fell 11% in past year, CREA says
Sales in April fell to their lowest level for the month in 7 years

http://www.cbc.ca/news/business/april-house-prices-1.4663359

Just me
Just me
2 years ago
Reply to  Just me

“Sales were down in 60 per cent of all markets, led by the Fraser Valley in British Columbia, along with markets in and around the Golden Horseshoe area in Southern Ontario.

The realtor group placed the blame in part on new stress test rules aimed at tightening lending standards, which came into force in January.

“The stress test that came into effect this year for homebuyers with more than a twenty per cent down payment continued to cast its shadow over sales activity in April,” CREA President Barb Sukkau said in a release.

Sales were down, and so were prices. CREA said the average price of a home sold last month went for $495,000. That figure has fallen by 11.3 per cent from April 2017.”

Just me
Just me
2 years ago
Reply to  Just me

“But as has been the case for several months, CREA said activity in Toronto and Vancouver is skewing the markets. When both markets were red hot, they were pushing the average up. But now that both markets have cooled, they are pulling it lower.

If sales from those two markets are stripped out, CREA says the average selling price of a Canadian home in April was $386,100, and the annual decline shrinks to just 4.1 per cent.”

bullwhip29
bullwhip29
2 years ago

The extra cost to build a Vancouver detached home is $644,000. It’s half that elsewhere: report
https://globalnews.ca/news/4208533/vancouver-detached-home-building-costs/

Name
Name
2 years ago
Reply to  bullwhip29

According to oracle it is $400,000 but that’s only if the house is made from cardboard.

Oracle
Oracle
2 years ago
Reply to  Name

That’s the cost. Buddy doing one right now.

Oracle
Oracle
2 years ago
Reply to  Oracle

But have to tell the suckers it’s $600,000+.

Hahaha

patriotz
2 years ago
Reply to  bullwhip29

The article is confusing, but it looks the source is looking at the amount that the sale price exceeds the cost to build.

“For most CMAs, our cost measure, which is simply the difference between the building construction cost per square foot and the market price per square foot, is close to zero,” the report said.

“This minimal difference is to be expected in a normally functioning municipal housing market. However, for a few CMAs such as Abbotsford, B.C. and Vancouver, single-detached house prices exceed the construction cost of new units by $150 per square foot or more. In Vancouver, the cost gap is $300 per square foot.”

KickThemOut
KickThemOut
2 years ago
Reply to  bullwhip29

And this is news? When house + land + stainless steel appliances elsewhere in North America can be had for under $300K?

Bag it and tag it
Bag it and tag it
2 years ago
Reply to  bullwhip29

I think we have 2 things happening:
1. Developer collusion (agreeing to a fixed price per square foot for various areas. For example, price per SF in West Van is set at $500 psf. Shop around, all West Van builders will quote you the same price.
2. Money launderers overpaying (on paper anyway) for construction costs…which is skewing the statistics.

Oracle
Oracle
2 years ago
Reply to  bullwhip29

BS.

$100 per Square foot to get a decent house built.

Don’t believe everything you read.

Oracle
Oracle
2 years ago
Reply to  bullwhip29

Dummies: they are trying to deflect attention from foreign money you dimwits. Fuck the low iq people here have very short attention spans.

bullwhip29
bullwhip29
2 years ago
Just me
Just me
2 years ago
Reply to  bullwhip29

Shameful. Truly shameful.

There are no other words.

The most corrupt municipality in Vanada, by a long shot.

These people have sold out, completely.

The Provincial government should step in and do the right thing.

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Just me

When will you stop whining and take your own action to fight that you think is shameful? Go make a sign and protest in front of these monster houses or something! Otherwise, just zip it.

Royce McC
Royce McC
2 years ago

You are closing in on something like 100 posts on this thread alone, several of which involve complaints about policy related to real estate. Since you are clearly not zipping it, can we assume you are out there protesting for your POV?

YVR
YVR
2 years ago
Reply to  Just me

What is shameful is the NDP have exempted farmland from their foreign buyers tax and have done nothing to stop this. Richmond cannot impose a foreign buyers tax.

Just me
Just me
2 years ago
Reply to  bullwhip29

“Coun. Harold Steves put forward an amendment to reduce house sizes to 5,382 square feet, which follows provincial guidelines. It was defeated.

“We’ve set the precedent now for all the other properties in the Lower Mainland all the way to Chilliwack in terms of house size,” said Steves outside council chambers. “We’ve set the basic pattern, but not in a good way.”

Just me
Just me
2 years ago
Reply to  bullwhip29

“Michelle Li of Richmond FarmWatch, a group representing concerned residents and farmers, said residential use of farm land is the problem.

“I’m asking for rational minds to prevail,” she told council. “We all have a part to play in controlling speculation in agricultural and residential properties.”

Just me
Just me
2 years ago
Reply to  bullwhip29

They actually made it worse:

“Late Monday, council voted to maintain the current home size of 10,764 square feet, and also voted to allow an additional dwelling for farm workers with a maximum size of 3,229 sq. ft. for eight- to 25-hectare lots without a rezoning process.”

bullwhip29
bullwhip29
2 years ago
Reply to  Just me

well, you all know the drill then…
“farmer” will build megamansion as per guidelines with hidden unfinished portions, storage sheds, garages etc, etc… to be completed at a later date when all the dust has settled (oldest trick in playbook). with this additional dwelling, owners will design and construct using similar methodology with intent to eventually consolidate the 2nd structure with 1st at a later time. of course, owners could get really creative and subdivide then repeat process…

bullwhip29
bullwhip29
2 years ago

B.C. tourism on a roll ahead of summer season
http://www.richmond-news.com/news/b-c-tourism-on-a-roll-ahead-of-summer-season-1.23301901

Vancouver might also attract more Chinese tourists this summer because 2018 has been designated the Canada-China Year of Tourism

The Holiday Inn Vancouver-Centre on West Broadway reported a 400% rise in the number of guests from China this year compared with the same period in 2017. Hotel general manager Simon Lam attributed part of the success to the joint tourism inititative between China and Canada.

“…Chinese guests have mentioned that they felt more at home ..,.”

CRA221
CRA221
2 years ago

Mainlander was tailgaiting me in Richmond today. New beamer with red leather (what is with that culture and red leather). He took off at a high speed down a rural road that was formerly farms and now mansions. It seems the police are nowhere to be found these days……

xhistory
xhistory
2 years ago
Reply to  CRA221

I’d advise caution with any indication of RED.

RED on a balance sheet will Totally blow Up now. I dont say this lightly… People need to budget and make forecasts. What works and what doesn’t. Take a road to perdition, or is it The Green Mile?

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  CRA221

They showed you their fucking passport, dumbass?

Just me
Just me
2 years ago

I am sure it was a farmer. After all the ALR area in Richmond is for farming. No crass displays of wealth there.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

Maybe they were Canadian, genius?

Just me
Just me
2 years ago

Maybe they were. Equally crass.
And thanks for the genius, too generous. Unfortunately I cannot reciprocate.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

What exactly is crass? Oh, right, you’re a bitter jealous loser. But, fortunately, nobody gives a fuck what racists think.

Just me
Just me
2 years ago

Why are you suddenly talking about race and insulting.

A noisy BMW with red seats and a racing attitude is crass, in my view. Disagree if you wish, but don’t play the race card.

Not that anyone cares what you do, but still….

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

Dumbass, I didn’t bring it up – CRA221 did. And you joined in. On a website about real estate, apparently.

Just me
Just me
2 years ago

And the race baiting continues…..

Bag it and tag it
Bag it and tag it
2 years ago
Reply to  Just me

He brought his tractor in for maintenance and the Beamer is a courtesy car.

Best place on meth
Best place on meth
2 years ago
Just me
Just me
2 years ago

The slope of that yield growth over time is pretty.

Screwed
Screwed
2 years ago

So what?

Oracle
Oracle
2 years ago
Reply to  Screwed

It’s reaching a peak. Will head down.

Won’t affect much going forward. Probably top out at 2.50 max.

Balanced arguments
Balanced arguments
2 years ago
Reply to  Oracle

Which country/company steps in to buy those bonds to suppress the rate?

xhistory
xhistory
2 years ago

“With the rise of China, HSBC is positioning itself as the bank of choice to drive China’s global economic ambitions, which makes investigators uneasy.”

http://www.abc.net.au/4corners/banksters/9747234

Just me
Just me
2 years ago
Reply to  xhistory

“HSBC, or the Hong Kong & Shanghai banking Corporation has been implicated in a raft of illegal activities, from money laundering for the mafia, to enabling tax evasion and currency manipulation.”

“Regulators stand accused of failing to adequately punish the bank and impose penalties that hold HSBC to account.”

xhistory
xhistory
2 years ago
Reply to  Just me

“If the bank cant sell steak, it’ll be turned in to HAMburger

Xhistory

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

HSBC is a UK company. You’d do well to read about who was involved in currency manipulation and recently jailed.

Just me
Just me
2 years ago

Your point? Should I dislike it less because it has a British corporate address?

As usual you are weird and make strange connections.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

Your strategy is pathetic. As are you.

Just me
Just me
2 years ago

I have no strategy. Just telling you the truth.

But you are not really interested in the truth.

paulb
paulb
2 years ago

New
302
Price Change
110
Sold
124
TI:11052

http://www.clivestevepaul.com

Diadora
Diadora
2 years ago
Reply to  paulb

Happy 11052 everyone. Wow the price change is very close to sold numbers, the sellers must be scared.

Screwed
Screwed
2 years ago
Reply to  Diadora

Does it apply to increased prices due to bidding wars?

Name
Name
2 years ago
Reply to  Screwed

Bidding wars? LOL that’s so 2016.

Just me
Just me
2 years ago
Reply to  Diadora

I guessed that we might hit 11k some time mid May. This is earlier than I expected.

Screwed
Screwed
2 years ago
Reply to  Just me

It’s already mid May silly

Just me
Just me
2 years ago
Reply to  Screwed

For those of us who are a bit more challenged.

I expect May 18. It happened on the 14 th.

You ok now?

xhistory
xhistory
2 years ago
Reply to  Just me

This time of year the Sun is in reference to Mid Season, which normally occurs May7/8 ie Mid Spring, and Opposite to the American Election and in Conjunction to our own (Prov BC)

YVR
YVR
2 years ago
Reply to  Just me

31 days divided by 2 = 18

LOL

Just me
Just me
2 years ago
Reply to  YVR

Right. Isn’t algebra fun?

YVR
YVR
2 years ago
Reply to  Just me

It is the third lowest inventory level for mid May in the last 20 years. Nothing to celebrate unless you are a real estate speculator. Prices are up 20% since June 2017 when the NDP took office. Epic fail.

701 — 1001 Homer Street, Vancouver
B.C. Assessment: $552,000
Listed for: $549,000
Sold for: $641,000 on March 7, 2018

http://vancouversun.com/homes/buying-selling/sold-bought-yaletown-condo-goes-for-well-above-listing-price

Oracle
Oracle
2 years ago
Reply to  YVR

Let the dumb here have fun. Watch the look on their faces in the fall when the prices don’t budge.

Remember B20?? Nothing changed.

Now yields are rising. To what? 2.5?? Wait wait wait.

Don’t post here much anymore. Too many dummies here.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Diadora

Nunber is prices changes is meaningless and easily manipulated (cancel and relist).

Lost,... but not leased
Lost,... but not leased
2 years ago

People that bitch about people that have homes “ASSessed at $3 million + should get heads out of ASS.

Many of these pseudo nouveau riche bought waaaaaay back when…..lets say 30 years ago…and paid there taxes to support local schools etc…they did NOT have a crystal ball that stated their homes would appreciate to $3 million plus.

Using the aforementioned “30 years ago ” analogy, these parties likely ran the gauntlet of high interest rates to pay off the mortgage…unlike more contemporary times when even the whinniest millenial had the previously unprecedented chance to literally have “free money” via low interest rates….,invest and either hold and/or flip.

In other words Shut The 4Q UP.

Just me
Just me
2 years ago

And now that they are multimillionaires with stratospheric returns, we should actually give them the lowest house taxes in North America? Because they did not do well enough already?

The people you just described are those that can defer the taxes forever. Nobody else has that luxury. yet they are so entitled that they refuse even the great deferral option. They want to pay zero extra taxes.

You just wrote a pile of nonsense.

Bestplaceonearth
Bestplaceonearth
2 years ago
Reply to  Just me

Who the fick cares about taxes in other cities. I just have to keep reminding you that your failure is your own making, and these home owners should not pay a penny more than they have to. Beside, these home owners already pay taxes for the needles to feed the lowlife addicts, while they have to buy Thein own needles for their diabetes. The freeloaders just want more and more with no sweat.

Just me
Just me
2 years ago

“Who the fick cares about taxes in other cities”

You would be up in arms if it was the other way round.

Your posts make no sense. I talk about facts, you go on about supposed personal failures. I am actually doing quite alright, but it is none of your business. Stick to facts.

You are such a loser…

Bestplaceonearth
Bestplaceonearth
2 years ago
Reply to  Just me

Up in arm? I pay for what I consume, but not a dime more to the Robinhood taxes. From your personal failure, you have been raging about tax the wealth. You can’t join the party, you might as well trash it. Am I right? Of course, I am.

Just me
Just me
2 years ago

“I pay for what I consume,”

Ok. So if you get sick we should cover your health costs only up to what you have paid into the healthcare system.
Or policies should defend your property only as long as your contribution covers it.

You make no sense. Less than ever.

Bestplaceonearth
Bestplaceonearth
2 years ago
Reply to  Just me

Of course tofu brain like yours can never understand the complex issues. That is why, again, you have failed to yourself.

KickThemOut
KickThemOut
2 years ago

that’s an insult to tufu…..slug brain might be more appropriate.

Bestplaceonearth
Bestplaceonearth
2 years ago
Reply to  Just me

By the way, I don’t get sick, and would rather pay for my health insurance from my own pocket, than jamming through payroll taxes of businesses.

Name
Name
2 years ago

You say that until you get hit with a $100,000 medical bill.

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Name

There is something called insurance! If you don’t know, just ask.

Just me
Just me
2 years ago

“By the way, I don’t get sick.”

The last famous words.

Not only you are a self-proclaimed investment genius, you are also immortal.

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Just me

For sure, unlike you, a failure in all counts.

Best place on meth
Best place on meth
2 years ago
Reply to  Just me

I care about property taxes in other cities.

Fucking freeloaders in Vancouver have had it too easy for too long.

Bestplaceonearth
Bestplaceonearth
2 years ago

Yeah, those fucking freeloaders just keep asking for more taxes from the homeowners.

Just me
Just me
2 years ago

You are the real freeloaders. The government has done its utmost to favour homeowners.
No more, people have had enough.
Entitled millionaires should be iogmnored, with their insulting protests.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

The provincial and federal governments value home ownership. They’ve made this perfectly clear multiple times. Now you act like you weren’t told and accuse them of being “entitled” when you’re the one who wants to reach into the pocket of everybody who’s richer than you. Bringing everybody else down instead of trying to raise yourself up isn’t a strategy that will ultimately be successful. The sooner you learn this the better.

Just me
Just me
2 years ago

The government messed up big time in Vancouver, at all levels.

They condoned crime to foment price growth. That is selling your soul, not public policy.

And no, I wish all the best to honest people. I just want to see the money launderers and gamblers pay a heavy price.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

Your definition of “honest people” is people who look like you.

Just me
Just me
2 years ago

Nope. Just honest.
Looks are irrelevant, as long as you behave according to the law.
By the way, liars like you do not qualify for the label of honest.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

Again, nobody gives a flying fuck what racists think.

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Just me

Stop fantasizing yourself with the homeowners’ money. It does not work, and there is no free lunch. Go get another job if you have to.

Best place on meth
Best place on meth
2 years ago

Fucking homeowners have had a free ride, time to put them out of their misery.

Bestplaceonearth
Bestplaceonearth
2 years ago

Sure, you can do that by moving out of their basement.

KickThemOut
KickThemOut
2 years ago

You didn’t pay for any civic services you use, so you are the real freeloader here.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

“You would be up in arms if it was the other way round”

The thought of you merrily paying a tax like this is truly hilarious. You’re the first person to start bleating about “fairness”.

Just me
Just me
2 years ago

You really make me laugh. If you only knew how much I paid in income taxes last April.

But who cares what you think. You are not capable of original thoughts, just race baiting and rent extraction.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

Nobody gives a fuck what you paid in taxes. Especially me, because I probably paid more.

Just me
Just me
2 years ago

Hopefully we can tax housing more in the future, so you can claim the coveted title of biggest tax payer.

xhistory
xhistory
2 years ago

Ask someone in 1971 if gold was going to $800 in less than ten years, it would sound incredulous. But it did, because gold was hoarded, and not to be worn as jewellery as the universe intended.

Name
Name
2 years ago
Reply to  xhistory

It was because U.S. President Richard Nixon ended international convertibility of the U.S. dollar to gold on August 15, 1971 (the “Nixon Shock”).

southseacompany
southseacompany
2 years ago

“B.C. home price trajectory flattens with slow sales, more listings”, New Westminster Record

http://www.newwestrecord.ca/real-estate/b-c-home-price-trajectory-flattens-with-slow-sales-more-listings-1.23301960

“Rising inventory creates “less upward pressure on prices””

bullwhip29
bullwhip29
2 years ago

NAFTA countries set to blow through Paul Ryan’s May 17 deadline without a deal
http://business.financialpost.com/news/economy/nafta-countries-set-to-blow-through-paul-ryans-may-17-deadline-without-a-deal

>>> one has to wonder if the powers that be in ottawa really want a good deal for canada after all is said and done? should such an agreement be reached, a surge in the loonie coupled with a resumption in rate hikes would likely ensue. this ironically would spell the end of the canadian consumer, the house of cards RE market and therefore THE key pillar which has been propping up the canadian economy for decades

Screwed
Screwed
2 years ago

Who wants to bet? 11100 today

xhistory
xhistory
2 years ago
Reply to  Screwed

11,111

Lost,... but not leased
Lost,... but not leased
2 years ago
Reply to  xhistory

11,188

Name
Name
2 years ago

still more on this… Owners of multimillion dollar Vancouver home owners say they can’t stomach tax bump http://www.news1130.com/2018/05/14/owners-of-multimillion-dollar-vancouver-home-owners-say-they-cant-stomach-tax-bump/ “For the Kents, that tax would mean an extra $2,000 annually.” that’s 0.0005% of their home’s value. oh the humanity !!! “We raised our kids here, we have grandkids who are in university, who are part of our family life here. We hope to have great-grandkids here. It’s our home. We didn’t buy it as a money-making asset, we bought it as a home,” she said.” so here’s what they should do; since they didn’t buy the house as a “money-making asset” when they sell their “home” they get what they paid for it plus any expenses over the years with the balance going into the government’s affordable housing fund. But somehow I’d think they will still want the $4 million jackpot… Read more »

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Name

And of course, the have-not wanna take money from the haves 2018 Robin hood style- easy money, no sweat!

Name
Name
2 years ago

You’re getting stale. You need to come up with some new material …

KickThemOut
KickThemOut
2 years ago

Bears believe all home OWERs should be slapped with extra property taxes while they should get tax write-offs for the rent they pay. It’s only fair! After all, those home OWERs never sacrificed anything like the bears – the fancy dinners, the annual Europeans culture trips, the kids lessons, the time they volunteered in community, helping all those poor people in south east Asia & Africa & South America, spreading freedom & democracy in China, etc, etc, etc.

What did home OWERs ever do beside ruining Vancouver for the bears?! DEATH to all home OWERS!

Just me
Just me
2 years ago
Reply to  KickThemOut

What are you on about? Your rants are making less and less sense. Who did ever even mention the things you are dreaming about?
Get your medications, quick.

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  Just me

Well, your bitching and whining every single day is even worse! Stop drinking cooking wine so early in the morning.

Just me
Just me
2 years ago

Are you claiming that the posts by KickThemOut make sense to you? Are you serious?

bestplaceonearth
bestplaceonearth
2 years ago
Reply to  KickThemOut

Bears would make a revolution…by shipping all home owners to up north to make concentration camp…if bears have their way!

Name
Name
2 years ago

Christy did say to move to Fort St. John.

Just me
Just me
2 years ago
Reply to  Name

And now we are giving her a 100k yearly pension for her wisdom. Hard to believe but true. That crook got her annuity on our dime.

Just me
Just me
2 years ago
Reply to  Name

“The school tax increase introduced in the B.C. budget would be set next year at 0.2 per cent on the portion of property valued above $3 million. It would increase to 0.4 per cent on the portion above $4 million.

For the Kents, that would mean an extra $2,000 annually.”

Best place on meth
Best place on meth
2 years ago
Reply to  Just me

Wow, a whole $2K windfall tax on an asset that’s ballooned to ridiculous levels.

Sell it you whiny assholes.

Best place on meth
Best place on meth
2 years ago

“But I’ve lived here my whole life and deserve to continue to live here”.

Oh, seems I’ve heard people being mocked for saying that in the past.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago

Ridiculous comparison. Nobody is saying they “deserve” to live in the house they’ve paid for. They don’t need your permission.

StupidityCheck
StupidityCheck
2 years ago

Shut it up already. How long have you been at this? Loser.

Just me
Just me
2 years ago

Every April I pay taxes for the privilege to walk the streets free if crime and other nuisances. So should they.

Sitting on a plot of land while it appreciates and makes you wealthier than a doctor or an engineer is obscene. Most economists agree that land taxation is more efficient and desirable than labor income taxation.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

So you’re self employed or retried then? I’m guessing the latter. But you don’t have a million dollars, so that’s not good.

Just me
Just me
2 years ago

They don’t want to sell it because they think the price will go even higher. It is greed, masqueraded as a libertarian crusade.
Homeowners in a Point Grey have no shame. They should be greatly embarrassed.

Just me
Just me
2 years ago
Reply to  Name

“They could sell their home, and are eligible to defer both the new tax and property taxes, but Kent says that’s not the point.”

“Kent said she disagrees with the concept of deferring taxes on an ideological basis, since it means the province is stuck with the tab in the meantime.”

Just me
Just me
2 years ago
Reply to  Name

Ok. I disagree ideologically with the taxes I just paid. Can I please get reimbursed?

I don’t like a defederal, I want them scrapped altogether!

Bag it and tag it
Bag it and tag it
2 years ago
Reply to  Just me

The amusing thing is that they’re whining about $2K per year, which is $10K over 5 yrs. The value of their home is probably dropping in value $10K per week.

Bag it and tag it
Bag it and tag it
2 years ago
Reply to  Name

I’ve got great news for the Kents! They’re 2019 assessment will probably be below $3mil and they won’t have to pay the tax.

Just me
Just me
2 years ago

At which point they might start bitching about government measures that lowered their assessment and their perceived wealth.

These homeowners usually want it both ways: they want the full appreciation AND the low tax burden. And whoever disagrees with them is some kind of rabid communist.

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

You want equality of outcome rather than equality of opportunity.

Just me
Just me
2 years ago

I don’t want equality at all.

Just want to restrict some people from cheating, lying, abusing the system and going unpunished.

What part of the word cheaters you do not understand?

Shut It Down Already (original)
Shut It Down Already (original)
2 years ago
Reply to  Just me

Which people?

southseacompany
southseacompany
2 years ago

“The Growth Of Canada’s Money Supply Is Slowing, Here’s What It Means For Real Estate”, Better Dwelling

https://betterdwelling.com/the-growth-of-canadas-money-supply-is-slowing-heres-what-it-means-for-real-estate/

“Canada’s ever expanding supply of money is finally starting to take a breather. Bank of Canada (BoC) numbers show M1+, a narrow measure of country’s money supply, is slowing in growth. The taper is most likely a sign that higher interest rates are impacting households. The measure is a useful indicator for the sale of assets that need financing, like homes.”