Poltergeist 2018

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.

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Oracle
Guest
Oracle

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
Guest
Just me
The protest by entitled homeowners on the West Side was shameful. And the backlash will be strong. Big strategic mistake. Public opinion will not look kindly on these millionaire homeowners complaining about contributing a tiny fraction of their massive wealth. These protesters claim we should raise taxes on high-income earners instead: perhaps they should be informed that high-income earners pay over 50% marginal taxes in BC. The problem is that they want their cake and eat it: they love their assessment values and the ability to sell to Chinese investors for millions. Yet, they don’t want to pay a penny more in taxes. Cannot have both ways. David Eby will not be intimidated: he is doing the right thing, and he knows it. At election time he will get all the support he deserves. As for Andrew Wilkinson, he chose… Read more »
backwardsevolution
Guest
backwardsevolution

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.

bestplaceonearth
Guest
bestplaceonearth

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.

specuskeptic
Member

They can defer, so there’s absolutely no hardship…and you know that you fucking deceitful POS.

Best place on meth
Member
Best place on meth

As you worthless real estate cheerleaders like to say, “if you can’t afford to live here, MOVE!”

YVR
Guest
YVR

“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.

Best place on meth
Member
Best place on meth

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.

YVR
Guest
YVR

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.

Best place on meth
Member
Best place on meth

“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.

backwardsevolution
Guest
backwardsevolution

YVR – Wilkinson, is that you?

Best place on meth
Member
Best place on meth

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.

YVR
Guest
YVR

I agree. Too bad the NDP have no balls and will put in exemptions or just cut it altogether.

bestplaceonearth
Guest
bestplaceonearth

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!

Oracle
Guest
Oracle
kabloona
Member
kabloona

“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.”

https://www.thestar.com/vancouver/2018/04/30/supply-vs-demand-social-media-housing-war-spills-over-into-vancouvers-civic-election.html

“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….”

bullwhip29
Guest
bullwhip29

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/

Just me
Guest
Just me

. “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.”

Just me
Guest
Just me

“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.

Just me
Guest
Just me

“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.”

bullwhip29
Guest
bullwhip29
Disgruntled
Guest
Disgruntled

“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”.

Best place on meth
Member
Best place on meth

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!

bestplaceonearth
Guest
bestplaceonearth

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?

Disgruntled
Guest
Disgruntled

“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.

kabloona
Member
kabloona

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….?????

Disgruntled
Guest
Disgruntled

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.

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

You want to let them deduct losses just before the market declines? Genius.

Disgruntled
Guest
Disgruntled

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).

bestplaceonearth
Guest
bestplaceonearth

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!

Disgruntled
Guest
Disgruntled

Yeah I’m sure you’re a real tough guy.

Oracle
Guest
Oracle

Why is he even holding a meeting.

To backtrack?

specuskeptic
Member

They are trying to prevent further theft by lolligaggers and rentier freeloaders (parasites, really – worse than freeloaders). Nothing “hard earn” about it.

C.Junta
Member
C.Junta
CBC closed the comments section. My favorite quotes below. I bet we will keep hearing this BS. They press all buttons: offshore buyers, jealousy is bad, we worked hard why don’t you try harder, it’s Marxism, we are the “community builders” (SIC), we are poverty millionaires, exorbitant property taxes. Just beautiful. “About 500 of us met at Trimble Park at 6PM today after you cancelled your “town hall”. How dare you try and take our homes away from us.” “in case you didn’t know there are poverty millionaires, they have no cash flow!” “How are we supposed to come up with the money to pay the extra tax? If we are forced to sell and move to a condo, our old house will go to an offshore buyer who will rip it down and put up a mega-home, which will… Read more »
Best place on meth
Member
Best place on meth

Sounds like Vancouver is having it’s “Let them eat cake” moment, thanks to these greedy, worthless boomers who should have expired already.

bullwhip29
Guest
bullwhip29

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…”

Name
Guest
Name

another chineeze money grubbing slumlord. why do we put up with this? when will we put a stop to these people ?

bullwhip29
Guest
bullwhip29

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

Disgruntled
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Disgruntled

“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

bestplaceonearth
Guest
bestplaceonearth

why don’t you bears start a party and lead yourself out of the mess you created?

Disgruntled
Guest
Disgruntled

Yeah people who don’t own real estate created this mess. Yep, that makes a whole lot of sense. Not too bright?

Laibach
Member
Laibach

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.

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

Parse error.

Laibach
Member
Laibach

thanks, mentally should say mentality, auto correct error for some unknown reason.

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

You’re simply jealous of those who knew how to do a buy vs rent calculation correctly a decade ago.

Oracle
Guest
Oracle

Developers get even more money after funding overseas foundations.

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

We do not sell “all our land” to foreigners, drama queen. And what would it even mean to sell it to “foreign sourced money”?

Disgruntled
Guest
Disgruntled

Why bother even to explain it to you like talking to a brick wall.

bullwhip29
Guest
bullwhip29

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

East west
Guest
East west

If the trains were running on the west side the city would not let it happen.

East west
Guest
East west

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.

East west
Guest
East west

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.

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

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.

patriotz
Member

“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.

bullwhip29
Guest
bullwhip29

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…

Best place on meth
Member
Best place on meth

It’s being converted into a massive retirement complex run by Anbang.

bullwhip29
Guest
bullwhip29

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

bullwhip29
Guest
bullwhip29

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

Name
Guest
Name

6631 ECKERSLEY RD RICHMOND
Sales history:
12-Jan-2016 $1,798,000
Assessed: July 2017 $2,240,000

probably a rental…

Name
Guest
Name

Mortgage growth in Canada hasn’t been this weak since 2001

http://vancouversun.com/real-estate/mortgages/mortgage-growth-in-canada-hasnt-been-this-weak-since-2001/wcm/bd44792c-88cb-419d-a00c-74c39c17aec4

“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.”

Name
Guest
Name

Vancouver homeless count sees small overall increase and a surge in people living on the street

http://vancouversun.com/news/local-news/vancouver-homeless-count-sees-small-increase-but-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?

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

That’s the problem with Vancouver. Everybody expects somebody else to fix its dirty little secret.

Hyper-mega-Bull
Member
Hyper-mega-Bull

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

Name
Guest
Name

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.

Laibach
Member
Laibach

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

patriotz
Member

“How will feds ensure that those 60,000 affordable new homes are not snapped by foreigners etc…”

Simple. They won’t be for sale.

Disgruntled
Guest
Disgruntled

“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.

patriotz
Member

“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.

Name
Guest
Name
Vancouver home sales reach 17-year low for April last month: REBGV The Canadian Press, at 14:05 on May 2, 2018 VANCOUVER – The Real Estate Board of Greater Vancouver says market conditions in the city are changing as sales in April fell to a 17-year low for the month. The board says 2,579 detached properties, townhouses and condominiums sold last month in Metro Vancouver, down 27.4 per cent from April 2017 and 22.5 per cent below the 10-year average for the month. About 18.6 per cent more properties were newly listed last month than in April last year, giving buyers more selection. Still, prices moved up with the composite benchmark price for all properties at $1,092,000 — up 14.3 per cent from the same month last year and 0.7 per cent from March 2018. Detached houses saw the smallest price… Read more »
Whister or Bust?
Guest
Whister or Bust?

“Still, prices moved up”

See Saw
Guest
See Saw

Don’t be such a chump; they’re using “benchmark” Franken-mbers to throw you off.

Whistler or bust?
Guest
Whistler or bust?

They are not throwing me off 50 center. I was quoting the ridiclous article.

“Quotation”

Just me
Guest
Just me

From the CBC article linked below:

“Last year, the average price of a detached home in Vancouver fell 6.5 per cent.”

YVR
Guest
YVR

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.

YVR
Guest
YVR

“up 14.3 per cent from the same month last year and 0.7 per cent from March 2018.”

Nice job NDP!

Best place on meth
Member
Best place on meth

It’s all their fault!

Stupid Eby!!!!

Just me
Guest
Just me

Vancouver single-family home sales see weakest April in decades
Just over 170 detached homes were sold in the city last month

http://www.cbc.ca/news/canada/british-columbia/vancouver-real-estate-single-family-home-average-price-1.4645040

Just me
Guest
Just me

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.”

Just me
Guest
Just me

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……

backwardsevolution
Guest
backwardsevolution

David Eby is one of the first principled people to be in government. He will hold strong because of this.

Disgruntled
Guest
Disgruntled

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.

Oracle
Guest
Oracle

Maybe in year 3. Prices up in their first year.

Name
Guest
Name

Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.

Oracle
Guest
Oracle

Ummm sub million prices still going up

Name
Guest
Name

Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.

YVR
Guest
YVR

Prices are up 14.3 per cent. Only real estate speculators should be loving Eby.

Just me
Guest
Just me

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.

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

According to zolo, MOI for detached is around 10.

Oracle
Guest
Oracle

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.

bestplaceonearth
Guest
bestplaceonearth

Just Me is not gonna do anything; he wants thing handed to him freely without sweat.

Name
Guest
Name

Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.

backwardsevolution
Guest
backwardsevolution
I feel for homeowners who have lived in their houses for a long time. They didn’t ask for these price increases. Foreign money did this because foreign money was actually courted by the provincial Liberals, along with the last two federal governments. Our own governments sold our city, province and country to the highest bidder. I hope these homeowners scream from the rooftops. It’s about time we hear some shouting. So long as they place the blame where it belongs – and not at the NDP who were left with cleaning up the mess – something might get done. Taxes should have tracked and reflected the rise in house prices all along, and they should have gone up hard. Had this happened, the homeowners would have been screaming much earlier and this housing disaster would have been stopped in its… Read more »
Just me
Guest
Just me

” 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.

Laibach
Member
Laibach

+10

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

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!

Disgruntled
Guest
Disgruntled

“Except foreign money didn’t do this.

Absurd statement. Have you looked outside lately? #WelcomeToCanada

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

Strong argument, dumbass.

Disgruntled
Guest
Disgruntled

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.

See Saw
Guest
See Saw

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.

Disgruntled
Guest
Disgruntled

Anyone who tries to state foreign money did not cause this is either really stupid or just a liar. Which are you See Saw?

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

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.

See Saw
Guest
See Saw

You’re a fucking idiot; this bubble has been going on since 2005.

Oracle
Guest
Oracle

He’s a troll trying to confuse the dumb here.

Prices would drop 50% if foreign money were to be taken out.

backwardsevolution
Guest
backwardsevolution

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.

Whistler or bust?
Guest
Whistler or bust?

Collect your 50 cents for your pro-China post and move the fuck on.

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

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.

Just me
Guest
Just me

Now that you had your little outburst, can we all go back and talk about actual facts?

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

You ignore every fucking fact put in front of you.

Just me
Guest
Just me

Chinese money is real, sizable and dangerous.

We need to stop it.

Disgruntled
Guest
Disgruntled
I am truly not a racist, and I suspect many other bears are also not racists. I mentioned “a race” [and a language] (without specifying which one) because it is an admittedly convenient obvious marker of foreign sourced money, either landed immigrant or otherwise. If nearly every open house in the city is dominated almost entirely by non-English speaking non-locals, how can you suggest this has no impact on prices unless your social justice overwhelms common sense. There is a nation that has been exporting its wealth en mass, some of it legally, some of it under the table, some of it via money laundering. Much of this has been news here and elsewhere for a long time. In part the NDP ran on this premise. Did cheap money and locals chasing gains play a part? Yes, and a non-negligible… Read more »
Whistler or bust?
Guest
Whistler or bust?

The race card is back!

Best place on meth
Member
Best place on meth

Hooray for the race card!

The last refuge of marxists and traitors!

Raincity
Member
Raincity

The Hot Asian money stimulated the market, and the locals carried it to new heights!

Oracle
Guest
Oracle

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.

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

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.

Oracle
Guest
Oracle

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?

Just me
Guest
Just me

“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….

Whistler or bust?
Guest
Whistler or bust?

Colonization or direct British rule is considered the high point of your home country by many historians.

Whistler or bust?
Guest
Whistler or bust?

This is directed at you Oracle.

specuskeptic
Member

You will not get an honest answer from him which begs the question, why engage with a pathological liar?

Oracle
Guest
Oracle

A question was never asked.

Try to keep up.

DaMann
Member
DaMann

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

Whistler or bust?
Guest
Whistler or bust?

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/

Best place on meth
Member
Best place on meth

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.

patriotz
Member

“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.

https://www.theglobeandmail.com/canada/article-toronto-restaurant-ordered-to-pay-10000-after-asking-black-customers/

Laibach
Member
Laibach

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.

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

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.

Laibach
Member
Laibach

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.

Whistler or bust?
Guest
Whistler or bust?

+1

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

I’m not trying to justify anything. I’m saying you’re an idiot. Keep up.

Laibach
Member
Laibach

Wow, nice return and yet you laugh at Oracle, pathetic clown.

Best place on meth
Member
Best place on meth

Well thought out argument AIDS.

Oracle
Guest
Oracle

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.

Just me
Guest
Just me

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.

bestplaceonearth
Guest
bestplaceonearth

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.

Just me
Guest
Just me

Perhaps I will show up. I love seeing these spoiled millionaires complaining for an extra 4K in taxes per year. So unfair…..

YVR
Guest
YVR

“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.

Just me
Guest
Just me

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.

YVR
Guest
YVR

I didn’t know there was a provincial election coming up? Where do I vote?

Oracle
Guest
Oracle

Takin about valley.

Name
Guest
Name

Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.

See Saw
Guest
See Saw

Those are “benchmark” prices, you idiot.

Oracle
Guest
Oracle

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.

backwardsevolution
Guest
backwardsevolution

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.

YVR
Guest
YVR

“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.

Best place on meth
Member
Best place on meth

They’ve only failed in the wild crazy eyes of hyper partisan morons.

Just me
Guest
Just me

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.

YVR
Guest
YVR

We had Point Grey residents up in arms + David Eby will win the seat again = does not add up

specuskeptic
Member

He knocked off a sitting premier. Discount him at your peril.

Whistler or bust?
Guest
Whistler or bust?

I loathe the NDP and their Keg waiter leader but Eby has earned my respect.

patriotz
Member

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.

http://www.cbc.ca/news/canada/british-columbia/british-columbia-2017-election-vancouver-point-grey-1.3879739

backwardsevolution
Guest
backwardsevolution

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.

Oracle
Guest
Oracle

Bare Trusts???

Takes 1 day.

Name
Guest
Name

bringing in legislation takes more than one day. You know that.

oopswediditagain
Guest
oopswediditagain
and in the meantime: …. and perhaps Poloz will just watch the rates go up regardless of his intervention. https://t.co/q6YKBjDmBH Canada’s 5yr yield has broken 2.20% for the first time since July 2011: Most banks and other lenders have already hiked fixed rates, however, so yields will likely have to climb another 15+ bps for the next wave of increases. https://www.bnnbloomberg.ca/rosenberg-poloz-has-little-power-to-control-canada-s-debt-bubble-1.1070377 “Poloz has said the Bank of Canada will likely keep rates low for the foreseeable future, but there is little the bank can do to control the importation of higher interest rates from the United States, Rosenberg said. In the last week, three of Canada’s Big Five banks have raised mortgage rates, despite the Bank of Canada standing pat on interest rates last month and some softness in once-hot housing markets like Toronto and Vancouver. “The Bank of Canada… Read more »
Oracle
Guest
Oracle

Good post. We need an external shock to this gong show.

Need a banking crisis.

xhistory
Guest
xhistory

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

Oracle
Guest
Oracle

Now this post is veiled racism. Classic example.

xhistory
Guest
xhistory

no, it’s bringing attention to your blatant fascism

Name
Guest
Name

Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.

Oracle
Guest
Oracle

I wish it was down.

All I know is homes 3 years ago that were 375,000 there are $750,000 now. Missed opportunity.

Name
Guest
Name

the numbers say otherwise.

Ripped
Guest
Ripped
Not trying to be a racist but I’m Chinese and my partner is from the mainland. We look on Chinese language forums all the time (vanpeople) and there are many places for rent that go for significantly below market value. Our theory is that many Chinese investors only advertise on these sites as they know that renting to fellow Chinese usually results in fewer problems (new immigrants are afraid to go to the authorities in general). For example there is a furnished studio in south Cambie for only 850 a month where studios in that area are probably renting for 1200-1400. You can’t claim the investors are racist but by posting only on a language Chinese language forum the implication is that they only want a certain ethnic group to rent to. This of course drives up rent for everyone… Read more »
Laibach
Member
Laibach

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.

Oracle
Guest
Oracle

Correction: good for recent Chinese. Not old stock Chinese. Same with other minorities.

What Trudeau has done is akin to treason.

Whistler or bust?
Guest
Whistler or bust?

Oracle where were you born?

Ripped
Guest
Ripped

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.

Oracle
Guest
Oracle

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).

backwardsevolution
Guest
backwardsevolution

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.

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

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?

paulb
Member

New
268
Price Change
89
Sold
146
TI:10481

http://www.clivestevepaul.com

rockerguy
Member
rockerguy
specuskeptic
Member

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)

Best place on meth
Member
Best place on meth

“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.

specuskeptic
Member

This gas bag has disappointed before. I’m not quite yet ready to piss on its grave. (Though I am looking forward to it)

Best place on meth
Member
Best place on meth

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.

specuskeptic
Member

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.

YVR
Guest
YVR

“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.

YVR
Guest
YVR
YVR
Guest
YVR
specuskeptic
Member

As a percentage of all the mortgage $$ in BC, how much is represented by the CUs?

Name
Guest
Name

A small percentage. YVR is grasping at straws.

specuskeptic
Member

Exactly where I’m going with that question….

specuskeptic
Member

Ok, I’ll bite. As a percentage of all the mortgage $$ in BC, how much is represented by the CUs?

YVR
Guest
YVR

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.

backwardsevolution
Guest
backwardsevolution

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
Guest
YVR

“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.

Selective Memory
Guest
Selective Memory

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?

Oracle
Guest
Oracle

No. We want to believe the NDP caused HAM areas to drop -1% after the 13% runup since election. Lol

Oracle
Guest
Oracle

The mania just moved to the valley.

Name
Guest
Name

Abby down 6% YTD
Langley flat
Check Zolo for accurate stats.

Best place on meth
Member
Best place on meth

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.

backwardsevolution
Guest
backwardsevolution

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.

bullwhip29
Guest
bullwhip29

whistler? lol…

Disgruntled
Guest
Disgruntled

“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.

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

People buying SFH aren’t first-time buyers on average incomes, dumbass.

Just me
Guest
Just me

Exactly. Quite often they are people deploying foreign money. Not your average first time buyer.

Oracle
Guest
Oracle

1% is getting ‘killed’?

specuskeptic
Member

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

specuskeptic
Member

Or maybe you can make this shit up. Still need to see this from a reliable source.

Name
Guest
Name

The dots appear to be connected …

Just me
Guest
Just me

“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.”

bullwhip29
Guest
bullwhip29

mom must be proud but where the heck is daddy? does she even know who her father is?

bullwhip29
Guest
bullwhip29

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…

specuskeptic
Member

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.

Best place on meth
Member
Best place on meth

Mainland chinese parenting skills are second to none.

They’d be better off drowning them like kittens.

patriotz
Member

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/