Vancouver’s ‘most haunted house’ is getting an upgrade:
A legendary home often dubbed “Vancouver’s most haunted house,” on a property rumoured to be an Indigenous burial ground, is the subject of a rezoning application for a new condo building.
Pennyfarthing Development, the developer of a number of high-end condos along the Cambie Corridor, is applying for rezoning on the site, which is diagonally opposite the King Edward Canada Line station.
Read the full article here.
The school wealth tax protest: developers rounded up all white people and told Asians to stay home.
NDP had better grow a set soon and inituatevthe bold action they promised. These baby steps not going to do anything.
Just me – taxes should have gone up in direct proportion to the housing increases. I mean, these homeowners should have been nailed – hard! Had this been done, the owners would have been shouting and screaming much earlier and this whole housing insanity would have been stopped much earlier. Instead, the Liberals left the mess and the screaming for someone else.
I don’t blame people who have owned their home for a very long time being upset by increases. They didn’t ask for any of this. But they shouldn’t blame the NDP. Their anger should be pointed directly at the Liberals for causing the mess in the first place. I hope they scream and get very angry, and maybe this will all stop.
Again, you are lack of common knowledge and you are just as hungry for tax revenge for your own failure. These homeowners have paid their taxes, and are paying their taxes. Whether the houses gone up in zillion dollars don’t mean much to them, they only have one house to live. How do you know they love their assessment values? They don’t. You are just lack of understanding as a normal citizen, you just want revenge for your hatred to the rich.
They can defer, so there’s absolutely no hardship…and you know that you fucking deceitful POS.
As you worthless real estate cheerleaders like to say, “if you can’t afford to live here, MOVE!”
“David Eby will not be intimidated”
LOL he canceled the meeting the guy was so scared shtless. Eby will never be elected again in this riding. I bet the NDP rolls this tax back with a bunch of exemptions. Otherwise Eby is toast. The NDP are too weak to take this much pressure. Just like the spec tax.
He wasn’t scared for himself, he was concerned for the people in his riding who got tickets to his town hall, who might get hurt by the mob Wilkinson and his realtor friends were encouraging to crash the meeting.
The people who had tickets were people who are opposed to the tax. Nobody who was going to be there was supporting the tax. The point of the meeting was for Eby to justify the tax. Eby got scared and bailed.
“The people who had tickets were people who are opposed to the tax. ”
Correct, and Eby was ready to listen to them.
Why did instigator Wilkinson encourage angry people from outside the riding with no tickets to go trash the open house?
This guy is dangerous and reckless.
YVR – Wilkinson, is that you?
Whiny multi-millionaire boomers who did nothing but sit on their asses and get lucky.
This tax isn’t high enough, I’d put them on the Logan’s Run wheel and bid them a wonderful afterlife.
I agree. Too bad the NDP have no balls and will put in exemptions or just cut it altogether.
Let turn these homeowners to basement dwellers and let them have a taste of it. it’s called communist re-education program! Or, send them up to the north and start a camp there. It’s the only way the losers would be happy! And the NDP wants to appease the losers, don’t they!
https://www.bloomberg.com/news/features/2018-05-02/china-s-tech-industry-wants-youth-not-experience
And we are importing these BS culture norms here.
RIP Vancouver.
“Supply vs. demand: Social-media housing war spills over into Vancouver’s civic election. In most places, supply and demand is an economic concept. In Vancouver, it’s a political stance on housing.”
“VANCOUVER— There is no subject more hotly debated in Vancouver than housing, and there’s a place on Twitter for people who are deeply obsessed with all things real estate: it’s called #vanre.
Now, a social media debate that has raged for years between “supply-siders” and “demand-siders” has spilled over into the real-life arena of city politics during an election year.
Raza Mirza and Justin Fung, two members of a group called HALT (Housing Action for Local Taxpayers), have launched separate conflict of interest complaints against Hector Bremner, a city councillor with the Non-Partisan Association who was elected in an October byelection and now hopes to seek his party’s mayoral candidacy….”
Vancouver developer Westbank is only interested in projects that are wanted in China, the marketing director of the company has admitted
https://thinkpol.ca/2018/05/02/chinese-market-doesnt-want-no-interest-vancouver-developer/
. “And there is always the fear, what if the China market blows up? But right now I have a rule when we talk about projects if the Chinese market doesn’t want it, I have no interest in it.”
“Leaked documents revealed last year how Westbank pre-sold nearly a quarter of all units of its Kensington Garden project, aggressively marketed in Hong Kong, to flippers[5].
ThinkPol analysis of publicly available MLS data showed that speculators were flipping condo units at Vancouver House, another of Westbank’s other major development projects.
“Ian Gillespie is a major donor and fundraiser for politicians at all levels of government, including Vancouver Mayor Gregor Robertson and the ruling Vision Vancouver party, both the BC Liberals and BC NDP, and Prime Minister Justin Trudeau and Liberal Party of Canada.”
Point Grey residents rally after David Eby postpones school-tax town hall
http://www.cbc.ca/news/canada/british-columbia/point-grey-residents-rally-after-david-eby-postpones-school-tax-town-hall-1.4642927
“Protesters waved signs and told stories about how the tax could force them to sell their homes.”
Cry me a fucking river you entitled lottery winning “haves”.
OHH NOOO!!!
If the poor bastards are forced to sell they’ll be homeless!
Except for the 3 million in their pockets!
Woe is them!
if the NDP think they can steal people hard earn money, think again. Eby dodged the meeting last night; I hope he grows a pair and shows up at the May 27 meeting at Point Grey. Any of you bears dare to show up? Just me?
“if the NDP think they can steal people hard earn money, think again.”
Actually it’s called paying your fair taxes. Hard earned?? Wow are you delusional. Buy a dictionary. 3 million dollar tax free windfall not enough for you “bulls”? Self-entitled doesn’t begin to describe you.
Yes, limit tax free capital gains from primary residence to $500k lifetime…..
Or else remove it altogether. Pay capital gains tax on 50% just like everything else.
😉
Voila! Next stop, affordable housing….. didn’t Gregor promise that….?????
That absolutely makes sense: tax home price appreciation on selling, as a capital gain, whether or not you pretend it is your “principle residence”. The idea that homeowners can reap multi-millions of dollars from our society 100% TAX FREE while investors in any other asset class pay capital gains is beyond unfair–I would call it outdated except it NEVER made sense. Now less than ever given where home prices have gone.
Governments: These entitled people need to be taxed like the rest of us investor class.
You want to let them deduct losses just before the market declines? Genius.
Yes I do. Realized losses that is. Treat this asset class as it really is: an asset class. In Vancouver houses are not homes. They should hence be taxed just like a stock portfolio. I’ll suggest 50% taxable, after all it is a capital gain (if held suitably long, otherwise straight income).
Windfall? how do these home owners have the windfall? They are still living in the same house right? Stupid bears are just like the NDP, put their filthy hands into people pocket. Anyway, are you gonna show up on May 27 meeting at Point Grey to prove your point? Or just like Eby, dodge!
Yeah I’m sure you’re a real tough guy.
Why is he even holding a meeting.
To backtrack?
They are trying to prevent further theft by lolligaggers and rentier freeloaders (parasites, really – worse than freeloaders). Nothing “hard earn” about it.
Sounds like Vancouver is having it’s “Let them eat cake” moment, thanks to these greedy, worthless boomers who should have expired already.
Another tenant says Kitsilano landlord used leak in apartment as grounds for eviction
https://globalnews.ca/news/4181021/another-tenant-says-kitsilano-landlord-used-leak-in-apartment-as-grounds-for-eviction/
“…the landlord’s name is Hong Li Yu and she owns a number of rentals in Vancouver’s Kitsilano neighbourhood…”
another chineeze money grubbing slumlord. why do we put up with this? when will we put a stop to these people ?
this landlord appears to be exaggerating or even staging certain deficiencies to force tenant out on grounds that major reno is required and that property must be vacated
“when will we put a stop to these people ?”
Not until we get a new political party, a nationalist party, that does not yet exist sadly. Harper was lax on immigration — the more the better and the wealthier the better — Trudeau is even worse. We ell all our land to foreign sourced money then we talk about building “affordable housing”, ie housing projects, for the displaced lifelong locals who were too dumb to own before it was too late. #WelcomeToCaada
why don’t you bears start a party and lead yourself out of the mess you created?
Yeah people who don’t own real estate created this mess. Yep, that makes a whole lot of sense. Not too bright?
The only sense that subhuman organism or bacteria or Byron makes is being a living showcase or a textbook example of what became of people living in Vancouver. Soon that mentally and culture will be the prevalent, Greedy and rotten dog who eats other dogs to get ahead, but literally.
Parse error.
thanks, mentally should say mentality, auto correct error for some unknown reason.
You’re simply jealous of those who knew how to do a buy vs rent calculation correctly a decade ago.
Developers get even more money after funding overseas foundations.
We do not sell “all our land” to foreigners, drama queen. And what would it even mean to sell it to “foreign sourced money”?
Why bother even to explain it to you like talking to a brick wall.
imagine that…the risk that trains may someday utilize the tracks you decided to live next to turned out to be a reality…who would have thunk it?
http://vancouversun.com/news/local-news/reactivated-rail-line-a-headache-for-strathcona-residents
>>> no sympathy for these residents who failed to do some common sense due diligence and are now crying foul at the city
If the trains were running on the west side the city would not let it happen.
Ever wonder why the west side of Vancouver is the only neighbourhood that gets an underground subway? Everywhere else gets to deal with the noise and unsighliness of the above ground sky train.
Remember the big COV vs CN Rail fight over resuming trains in the arbutus corridor?
The COV would never go to battle like that for East Vancouver.
The city did a terrible job of negotiating that deal. It wasn’t much of a battle. They paid almost triple their “best offer” and in the end.
“If the trains were running on the west side the city would not let it happen”
Cities have no jurisdiction over railways. The CPR decided on its own to discontinue the Arbutus line, which had been dead ended since Expo and had only one customer left (Molson), because they wanted to develop it for RE. Talk of running trains again was just a negotiating tactic to get a better price from the City to buy it.
The Strathcona line was originally built by the Great Northern over 100 years ago and is the only direct link to the harbour for CN and BNSF. Anyone who thought that line was going to go out of service is a fool.
Four Seasons Hotel in downtown Vancouver is closing
https://globalnews.ca/news/4181796/four-seasons-hotel-vancouver-closing/
>>> another renoviction, but this time on a much grander scale…
It’s being converted into a massive retirement complex run by Anbang.
only when it suit them, do authorities release names, photos and other info on victims/suspects despite the fact that investigation is still ongoing…
http://www.richmond-news.com/news/update-married-couple-named-in-double-homicide-investigation-near-cook-elementary-1.23285633
almost as laughable is how this was reported to have occurred on the outskirts of richmond centre when in reality the incident unfolded only 2 1/2 blocks from city hall/richmond center mall
6631 ECKERSLEY RD RICHMOND
Sales history:
12-Jan-2016 $1,798,000
Assessed: July 2017 $2,240,000
probably a rental…
Mortgage growth in Canada hasn’t been this weak since 2001
“Canada’s mortgage growth has fallen to the lowest in nearly two decades as interest rates rise and after new mortgage rules took effect at the start of the year.”
Vancouver homeless count sees small overall increase and a surge in people living on the street
could some of those entitled and disgruntled millionaire homeowners who are complaining about paying more tax maybe help out these street dwellers?
That’s the problem with Vancouver. Everybody expects somebody else to fix its dirty little secret.
Suspect in surgical mask stumps Richmond RCMP
“There have not been any losses reported but some property has been damaged and in one instance, items within the residence were meticulously moved and reconfigured in a new location. If not for the security footage, we might have been inclined to consider that the intrusions were the work of some type of poltergeist.”
http://www.richmond-news.com/news/suspect-in-surgical-mask-stumps-richmond-rcmp-1.23283633
Feds announce $13-billion affordable housing fund
http://www.news1130.com/2018/05/02/feds-announce-13-billion-affordable-housing-fund/
“This money will be used to build 60,000 affordable new homes, and repair 240,000 existing units.”
it’s too bad that we need to resort to this because our housing stock has been bid up by foreigners.
How will feds ensure that those 60,000 affordable new homes are not snapped by foreigners, flippers and other kinds of students, homemakers, and investors?
“Nearly one in every four condo towers that have gone up in the past two years is wholly owned by non-residents, as they account for 23.7 per cent of new condo purchases.”
http://www.richmond-news.com/real-estate/new-richmond-condos-snapped-up-by-foreigners-1.23129447
“How will feds ensure that those 60,000 affordable new homes are not snapped by foreigners etc…”
Simple. They won’t be for sale.
“Housing projects” for the displaced lifelong locals who were too dumb to buy into the foreign money sourced mania, be it hundeds of thousand of multi millionaire immigrants a year, or foreigners buying our homes directly on apps like candy from the other side of the world. Solution? Build housing projects/ghettos for lifelong tax-paying local-earning locals., you know, the poor under-earning low-lives like locally grown MDs and PhDs. Good work Trudeau, you solved it.
“Good work Trudeau, you solved it.”
House prices are falling in Toronto and flat in most other major markets. Trudeau has said that Canada-wide measures are not appropriate for local problems. Sure you can disagree but he would have to take the heat for an outright meltdown in Toronto.
“Still, prices moved up”
Don’t be such a chump; they’re using “benchmark” Franken-mbers to throw you off.
They are not throwing me off 50 center. I was quoting the ridiclous article.
“Quotation”
From the CBC article linked below:
“Last year, the average price of a detached home in Vancouver fell 6.5 per cent.”
The average went down due to less high end homes which screws it even when prices are rising. Prices are up 14.3 per cent from the same month last year and 0.7 per cent from March.
“up 14.3 per cent from the same month last year and 0.7 per cent from March 2018.”
Nice job NDP!
It’s all their fault!
Stupid Eby!!!!
Vancouver single-family home sales see weakest April in decades
Just over 170 detached homes were sold in the city last month
Gotta love these sentences:
“For those maybe holding out on the detached homes, I think they’re going to have to get a little bit more realistic.”
Last year, the average price of a detached home in Vancouver fell 6.5 per cent.”
If David Eby holds steady, as he should, he will not on;y win the next election but manage to finally contain the explosion of prices in Vancouver RE.
Gotta love Eby……
David Eby is one of the first principled people to be in government. He will hold strong because of this.
I’ll actually vote NDP for the first time in over 20 years if he successfully re-repatriates this city to homegrown Canadian citizens, such that doctors/lawyers/professors can actually afford to buy if they don’t yet own? Maybe eventually even people without advanced degrees, though lets start by lowering prices to the point doctors/lawyers/professors can buy, not just multi-millionaire immigrants.
Eby: This means LOWER PRICES and REDUCE foreign sourced money including $$$ coming from overseas relatives into landed immigrant’s Canadian bank accounts for the purposes of buying more real estate that is not technically “foreign” and hence immune to the FBT. Yes it happens all the time I know immigrants who DO this.
Maybe in year 3. Prices up in their first year.
Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.
Ummm sub million prices still going up
Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.
Prices are up 14.3 per cent. Only real estate speculators should be loving Eby.
Great comments to the CBC article about the worst April for detached housing in 20 years. Here is a selection:
Jana Alaya
Wonder how many of those 170 detached home sales where to local buyers….
Walter Heisenberg
Home sales weakest in decades……….and this is the best news in decades!
Note to real estate agents: Amazon is now hiring.
Jana Alaya
@Walter Heisenberg You need an education, something beyond high school to work for Amazon. The everyone can pass realtors licence just won’t do.
According to zolo, MOI for detached is around 10.
And have you seen the prices in the valley. Even if that $3 million home falls to $2 million, what you going to do?
Meanwhile in Valley a $500K house goes to $1 million.
Good going Just Me.
Just Me is not gonna do anything; he wants thing handed to him freely without sweat.
Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.
” Instead, the Liberals kept taxes low in order to keep the noise down, all the better to continue with fraud, money laundering and speculation.”
These words should be set in stone.
+10
Except foreign money didn’t do this. Idiot locals did, because they wanted to get rich – just like their uncle did! After all, real estate always goes up and you’ve gotta live somewhere! It’s a great investment, and better than gambling your money anywhere near those nasty Wall St bankers!
“Except foreign money didn’t do this.
Absurd statement. Have you looked outside lately? #WelcomeToCanada
Strong argument, dumbass.
Do I need to argue how 1+1=2 to a dumbass like you who insists it is really 3? Your statement that foreign sourced money is not to blame is so patently absurd I wouldn’t even know where to begin except tell you to open your eyes. Did some locals end up over leveraging late in the game? Sure, because they were otherwise outbid by foreigners/immigrants, and for some reason did not want to rent. Every open house I’ve been to in 2 years in Vancouver (a LOT of them) was nearly 100% non-local from a particular country, realtors included. You join the dots.
YOU’RE the dumbass; the bubble was already in full swing by the time “the foreigners” showed up on the scene, after all, nothing attracts a crowd like a crowd. And, then stupid locals thought they could compete with any of that foreign money when it was here two years ago by gorging on the cheapest interest rates in history.. Nitwits, now that “the foreigners” have moved on, those local idiots will be left holdimg the bag.
Anyone who tries to state foreign money did not cause this is either really stupid or just a liar. Which are you See Saw?
Bring us some facts and statistics, dumbass. Also explain how foreigners managed to persuade financially illiterate Canadians not to invest in RRSPs or TFSAs and how they simultabeosuly managed to accumulate historic debt loads. Take your time.
You’re a fucking idiot; this bubble has been going on since 2005.
He’s a troll trying to confuse the dumb here.
Prices would drop 50% if foreign money were to be taken out.
It’s not actually foreign “money”. It’s foreign “debt”. The foreigners were the ones who got it started, and then the locals jumped in. Don’t try to rewrite history.
Collect your 50 cents for your pro-China post and move the fuck on.
Racists really are the stupidest of the stupid. Foreign money has played a part. A small part. The remainder is historically low interest rates and cheap credit, favourable taxation of real estate, government policy which explicitly states that they want to preserve hard-earned equity and presents real estate as a retirement plan, greed of local idiots, participation of the media due to their dependence upon RE advertising dollars, and bubble psychology which makes morons like you chase after assets which are increasing in value. And I don’t give a fuck how many of those nasty nasty foreigners you think you can see outside.
Now that you had your little outburst, can we all go back and talk about actual facts?
You ignore every fucking fact put in front of you.
Chinese money is real, sizable and dangerous.
We need to stop it.
The race card is back!
Hooray for the race card!
The last refuge of marxists and traitors!
The Hot Asian money stimulated the market, and the locals carried it to new heights!
Local born and bred don’t even qualify for mortgages.
It’s the recent immigrants funnelling in foreign money.
But you colonizer already knows that.
Every city has recent immigrants buying. There’s nothing exceptional about Vancouver. Locals drive the market by far. Idiots like you have done an awesome job of convincing them they need to buy now or be priced out forever by a never ending stream of dumb foreigners who will buy at any price. You’re exploiting the very people you claim to champion, you despicable piece of shit.
Hit a nerve? Good.
It’s mostly Chinese Permanent Residents that are funnelling in money and buying multiple homes.
There. What ya gonna do you son of a Chinese Citizen?
“Every city has recent immigrants buying. There’s nothing exceptional about Vancouver.”
Wow. Just wow. What are you smoking?
Vancouver, Winnipeg, London Ontario…..all the same.
Nothing to see here. Chinese investments are just average in Vancouver.
….Wow….
Colonization or direct British rule is considered the high point of your home country by many historians.
This is directed at you Oracle.
You will not get an honest answer from him which begs the question, why engage with a pathological liar?
A question was never asked.
Try to keep up.
Complete bullshit!
When the president of Wesgroup ( think it was the president) says “If the project doesn’t interest the Chinese we won’t build it. Their last project was 40% sold directly to Hong Kongers before it was even marketed here. Not sure what your angle is always trying to downplay foreign money but it’s complete bullshit. No questions locals played a big part in it but without the foreign influence this market wouldn’t be nearly so high.
That’s why I laugh at the people talking about more supply more supply. When they build it and sell it over seas first it is most definitely not a supply problem, it’s a speculation problem
They are appealling the verdict
Eating while black in a Chinese restaurant: a grim lesson in racist division
https://www.theglobeandmail.com/opinion/article-eating-while-black-in-a-chinese-restaurant-a-grim-lesson-in-racist/
Of course, chinese can be as racist as they want while simultaneously claiming to be victims of racism.
They need to take a good long look at their culture.
“They are appealling the verdict”
According to the original article, “Staff from Hong Shing did not attend the tribunal hearing, nor did they send legal representation.” They likely don’t have legal grounds to appeal. I think they are just trying to put the best spin on it now that it has become news.
One local business owner recently had to put a big a sign in his store “No Cash Discount”. He seriously got annoyed by numerous Chinese frequently entering the store and asking for cash payment incentives. The whole idea of constantly screwing the system at all levels is mind-boggling.
And I bet you don’t know anybody who’s ever paid a plumber, electrician, or handyman in cash, right? Of course you don’t.
There is a big difference between sporadic, exceptional cases and large-scale trendsetting by always bringing it up and encouraging others to commit a fraud and cheat the system by not reporting transactions hence tax and so on. Next time please try a bit harder to justify those “anomalies” coming from cultures where they are accepted as norms.
+1
I’m not trying to justify anything. I’m saying you’re an idiot. Keep up.
Wow, nice return and yet you laugh at Oracle, pathetic clown.
Well thought out argument AIDS.
So April stats out for Valley.
Detached homes just above $1 million. Up 13% from eve of election.
Strata at $550,000. Up 23%.
And you NDP apologists still don’t get it. Hahaha. If they were serious, the prices should have been -13% and -23%.
That’s would have gone a long way to fixing this mess.
Numbers tell the truth. Feels don’t.
Not sure who measured prices in the Valley and how.
Detached in Vancouver are 6% down YoY (although the GVREB claims marginally up for benchmark). If you add 2% inflation, prices are down big time in Vancouver proper since NDP took office.
Not regretting my vote yet, sorry.
When I see protest by rich Point Grey residents (see what happened in Trimble Park yesterday) I think the NDP is definitely on the right track.
Homeowners are protesting, it means the measures have a bite.
Home owners are protesting against pickpocket from the NDP. Do you dare to show up at the meeting on 27 May to prove your point? Or just salivating.
Perhaps I will show up. I love seeing these spoiled millionaires complaining for an extra 4K in taxes per year. So unfair…..
“Detached in Vancouver are 6% down YoY (although the GVREB claims marginally up for benchmark)”
Do you understand what an average price is and how it is calculated? If you take out a few $10 home sales and the average price goes down even when everything else is rising. Prices have went up every single month since the election. Did you not notice the open house you went to last weekend was priced at 10% above last Junes assessed value? 10% above last June is an increase in case you are wondering.
I monitor the market. The quantity of properties (SFHs) is higher than last year. The asking prices are marginally lower than last year.
I do keep track of things. I don’t know what you are on about, but you seem to agree with the very honest people at the GVREB.
Go ahead and vote for Wilkinson. He has already stated his strongly pro-housing stance.
I didn’t know there was a provincial election coming up? Where do I vote?
Takin about valley.
Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.
Those are “benchmark” prices, you idiot.
Listen dumbass. You’re way out of your league son. A 23% rise??? Ok then, what would you suggest it was??
Dumb and and ass.
Oracle – it’s too early in the game yet to say the NDP have failed. They’re just getting started, but you already know this. This is a big ship to turn around, and it’s going to take more than a few months to do it.
“it’s too early in the game yet to say the NDP have failed”
They have certainly failed in their first year. We will see in the following years.
They’ve only failed in the wild crazy eyes of hyper partisan morons.
There failed? We had Point Grey residents up in arms, going around Trimble Park as if someone had taken away their punch bowl.
I cannot even imagine the BC Libs touching the privileges of the millionaire West Side homeowners.
I am sure those guys will vote for Andrew Wilkinson. But David Eby will win the seat again. He is doing good. Real good.
We had Point Grey residents up in arms + David Eby will win the seat again = does not add up
He knocked off a sitting premier. Discount him at your peril.
I loathe the NDP and their Keg waiter leader but Eby has earned my respect.
Vancouver Point Grey is not the riding many people think it is. Those owning West Point Grey’s $3mil+ houses are only a small fraction of voters. As Eby said:
The voters in large part live on the east side in Kitsilano, or along the water. There’s a lot of renters, a lot of low-rise condo buildings, and these are people who are inclined to vote NDP if they hear a message that resonates with them, and they did.
YVR – failed who? Maybe they have failed some vested interests, like yourself, but they haven’t failed the majority of people who know the NDP are doing their best to end this nightmare.
Bare Trusts???
Takes 1 day.
bringing in legislation takes more than one day. You know that.
Good post. We need an external shock to this gong show.
Need a banking crisis.
New Delhi, May 2, Shares of PC Jeweller remained under massive selling pressure for the eighth straight session today, plunging nearly 24 per cent following stake sale by Fidelity managed funds through open market transaction.
https://timesofindia.indiatimes.com/business/india-business/investors-continue-to-dump-pc-jeweller-stock-tanks-24/articleshow/64003644.cms
The stock is down 81.6 per cent from its 52-week high of Rs 600.65 touched on January 16, this year
Now this post is veiled racism. Classic example.
no, it’s bringing attention to your blatant fascism
Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.
I wish it was down.
All I know is homes 3 years ago that were 375,000 there are $750,000 now. Missed opportunity.
the numbers say otherwise.
I think that most are already aware that Chinese have “the state within a state” which is run by their rules and habits inherited from the homeland. It already went too far in order to get reversed and changed. Sad for Canada but good for Chinese people in Canada.
Correction: good for recent Chinese. Not old stock Chinese. Same with other minorities.
What Trudeau has done is akin to treason.
Oracle where were you born?
Yes but my experience is that those not in the community never bring this problem up. If you posted a craigslist ad stating no Chinese this would be all over the media. People cry about high rents, and empty homes but this problem in my opinion is further exacerbating things by artificially lowering supply for the rest of the population.
This also happens in San Francisco where I used to live. Local politicians never talk about it.
Indians also do this. But it’s backfiring.
They never use to sign rental agreements and what’s happened is some foreign students have made a mess and live in groups of 6 in 2 bdrm rentals.
Landlords didn’t want CRA finding out about rental income (no paper trail).
Ripped – thanks for bringing this up. I agree, this would take rental stock off the market. No tax is being paid (if the renters are paying in cash), and foreigners are renting to foreigners.
How on earth did you ascertain that no tax is being paid, genius? And if the units are inhabited how does that remove rental stock from the market? Are they shipping in tenants just to spite the locals?
New
268
Price Change
89
Sold
146
TI:10481
Current chart – yes, lots of data is missing but you can see the 2018 trend is “up”: https://docs.google.com/spreadsheets/d/e/2PACX-1vR65XizlBICoNpcjgHUYDuGzWbPtAuOwRkwqcz_FlGik7w9CLQtcthLBhSynhhX01tF1ekiC1Xh6RRd/pubchart?oid=2100306723&format=interactive
Though updates are rare, the data lives here http://housing-analysis.blogspot.ca/ if you want to fill some of those gaps. Also, thank you. (y)
“Vancouver home sales reach 17-year low ”
“Mortgage growth in Canada hasn’t been this weak since 2001”
2001….what is it about 2001….
Oh yeah, that was the year before this incredibly massive and long in the tooth housing bubble started.
We’ve come full circle, and it only took 17 years.
This gas bag has disappointed before. I’m not quite yet ready to piss on its grave. (Though I am looking forward to it)
B20 and BC NDP are deflating it.
Hopefully interest rates will continue rising rapidly and blow it up like the Hindenburg.
It would be an added bonus if china would just die.
I worry about the rate lolligagging and the fragility of the prov gov’t coalition TBH. It would take very little to push this whole thing in the wrong direction again.
“B20 and BC NDP are deflating it.”
Unfortunately B20 was neutered by the NDP. They exempted credit unions. Too bad we may see prices correct had the NDP not done this.
Try the mortgage affordability calculator at Van City and any bank with 20% down. Van City will give you a 20% bigger mortgage.
As a percentage of all the mortgage $$ in BC, how much is represented by the CUs?
A small percentage. YVR is grasping at straws.
Exactly where I’m going with that question….
Ok, I’ll bite. As a percentage of all the mortgage $$ in BC, how much is represented by the CUs?
Percentage of all mortgages would be looking in the past. Percentage of all mortgages since B20 for mortgages with 20% down the CUs probably dominate in BC. Especially with HAM.
YVR – the NDP can always un-exempt credit unions. Several people have said that the credit unions are already pricing in the B20. If not, they will be slapped.
“YVR – the NDP can always un-exempt credit unions.”
I know they could. I wish they would. That is my point.
“Several people have said that the credit unions are already pricing in the B20.”
Not true. You can see for yourself by plugging the same numbers into the Van City and BMO mortgage calculator which shows B20 is not in effect with Van City. You can qualify for a 20% larger mortgage with the same income with 20% down at Van City. Same as pre B20.
NDP did not exempt the credit unions, they left the rules unchanged as they have been for decades.
The only article I’ve seen on the numbers reported that mortgage origination share at credit unions has actually gone down in recent months.
Bullshit piled on bullshit == YVR?
No. We want to believe the NDP caused HAM areas to drop -1% after the 13% runup since election. Lol
The mania just moved to the valley.
Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.
Real estate board finally can’t deny detached is falling, but they say it’s only -0.2% from last month.
HAM areas getting killed, Van West -1.3%, West Van -2.0%, Richmond -1.4%, N. Van -1.2%, even Van east -0.6%
Small cracks in condos got bigger with the first declines in some areas:
Van west -0.4%, Van east -0.5%, Burnaby south -1.6%, Burnaby north -0.2%
For some reason, Whistler and Squamish condos were up a whopping 10% in one month, pulling up the overall regional price.
Whistler and Squamish would be all that’s affordable for the people who are rushing to buy before rates go up and the last of the pre-approved B20’s. Fools. They are buying at the top of the market.
whistler? lol…
“HAM areas getting killed”
Oh you better not mention HAM Sida will start crying racism. It’s just us crazy locals remember? 73k a year median household income gets you 2M mortgages all day long.
People buying SFH aren’t first-time buyers on average incomes, dumbass.
Exactly. Quite often they are people deploying foreign money. Not your average first time buyer.
1% is getting ‘killed’?
Almost as toxic as fentanyl, LilTay’s has a connection to the ‘Couv. Mom appears to be a suburban Vancouver realtor. Can’t make this shit up. https://babe.net/2018/05/01/lil-tay-parents-53230
Or maybe you can make this shit up. Still need to see this from a reliable source.
The dots appear to be connected …
“Today babe can exclusively reveal that Lil Tay’s manager is actually her mom – and she works in the real estate business in suburban Vancouver. She’s named Angela Tian and when she’s not filming her daughter throw money and shriek the n-word, she sells detached homes in quiet residential streets next to parks and golf courses.”
mom must be proud but where the heck is daddy? does she even know who her father is?
hate to say it, but mom is probably laundering cash thru the daughter’s so called enterprise and the Lil $hit for brains doesn’t even realize it. if anything, she probably thinks all this is a result of her hard work and god given talent…
I doubt that. The whole act is about big profile and money laundering needs to be done in the shadows. This is one of those flash in the pan things where the opportunity pops up and then disappears after a few weeks. The lustre comes off when folks realise they’re being laughed at and not with.
Mainland chinese parenting skills are second to none.
They’d be better off drowning them like kittens.
The Bank of Canada wants to be gentle in raising interest rates to minimize the jolt to heavily indebted households and the economy, but it doesn’t directly control the full range of borrowing costs. Fixed rate mortgages, the kind most people have, take their cue from a bond market that cares nothing about the difficulties some families might have if rates climb.
Even for those with variable rates, the stress test is based on fixed rates.
https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-gentle-interest-rate-increases-are-expected-but-not-for-home-owners/