Friday!
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267 Comments
[…] Looking for a starter home? How about this former cocaine and fentanyl packaging site? […]
Very, very BIG NEWS !!! Canada just won the World Cup. Just watch and see housing prices go up very high. Vancouver will go up, but Surrey will go up much even higher. Everyone will want to live in Vancouver now. My developer buddies are now planning a big parade from Surrey all the way to Vancouver. We love soccer & rugby. Next, the Rugby World Cup will come to Surrey. Thank you Prime Minister Trudeau, the great one. Free roti for everyone with salted chickpeas.
The NDP said no. Vancouver is out.
It was a pointless bid. Only 10 games for Canada, and they’ll be spread across 3 cities? There’s basically no chance of seeing a decent game. But I’m sure many will pony up hundreds of dollars so they can take selfies whilst watching Serbia play Costa Rica.
just like the N. American bid was the only plausible option for FIFA despite all the staged build up to this announcement, the same will happen when it comes time selecting a host city for the 2026 Olympics where after the usual nail biting and sleepless nights the folks behind the Calgary-Vancouver bid will be left holding the bag
Get lost
MACLEANS: The real estate war on the west coast: Vancouver’s wealthy haves vs. middle-class have-nots
https://www.macleans.ca/economy/realestateeconomy/the-real-estate-war-on-the-west-coast-vancouver/
>>> enjoy…
We hollowed out the City and the beneficiaries claim to have worked hard to get that wealth. In a lot ways, that’s true because we encouraged that money to come here.
Yes we’ve been working hard at this since 1986. And here we are.
“‘White knuckle moments’ to hit bond market, fund manager warns”, MSNBC
“Sit Investment’s Bryce Doty predicts the 10-Year Treasury yield could reach as high as 4 percent this year.”
“Condo Market Speculators In Toronto, Vancouver A Risk To Economy: Bank Of Canada”, Huffington Post
https://www.huffingtonpost.ca/2018/06/12/condo-market-speculation-toronto-vancouver_a_23457118/
“In its financial system review released last week, the Bank noted that the housing markets in many Canadian cities have reversed themselves. After years of single-family homes rising in price faster than condos, condo prices are now rising rapidly even as the detached home market cools.”
“This greater activity — even as carrying costs (including mortgage payments, property taxes and maintenance fees) have increasingly exceeded rental revenue — suggests that investors have been counting on a continuation of large price increases,” the bank wrote. In other words, the condo market is now in the thrall of real estate speculators.”
The condo market has been in the thrall of speculators since 2003.
And the BoC only now noticed.
Glad their on top of that.
Stay awake my friends.
And they’re still throwing fuel on the fire. Idiots.
Langley condo owners who never moved into their units take legal battle to a higher court
https://globalnews.ca/news/4270661/murrayville-house-langley-lawsuit/
Former B.C. premier Mike Harcourt is speaking out about the government’s new speculation and luxury home tax
https://globalnews.ca/video/4270706/former-b-c-premier-criticizes-ndp-speculation-and-luxury-home-tax/
Even the NDP don’t support each other.
The NDP have always had a lot of internal conflict and eventually stab each other in the back. This is another reason why PR is going to be bad for them.
Yeah, Harcourt is all about profiting from real estate and shady insider moves. He sure looks a lot like Gregor: a guy who seems like an archetypal self-serving real estate pumper than he does any kind of left-of-centre politician.
To be fair when he was mayor Harcourt was very much at odds with the RE industry. That was over 30 years ago and he’s been out of public office for over 20 years. So a comparison with anyone holding office at the moment isn’t too apt IMHO.
Harcourt publicly quit the NDP in 2014. He did say in 2017 that he supported Horgan, but I don’t know if that means he rejoined.
In any case, this isn’t North Korea and former politicians aren’t required to support the current government. Christy had a lot of detractors among her former caucus mates, for example Kevin Falcon. For the kind of dissent that actually means something, you might check out Scheer’s recent firing of Max Bernier.
Harcourt’s politics are where the NDP needs to be because that’s where most of their votes can be gotten. But, the NDP is always far to the left because their special interests pull them in those directions.
Who is stealing plants from Queen Elizabeth Park?
https://globalnews.ca/news/4270723/queen-elizabeth-park-flower-theft/
No idea….no idea at all.
http://www.richmond-news.com/news/weekly-feature/no-such-thing-as-a-free-lunch-1.1054413
“As usual, they say they don’t speak English and then it’s the whole pantomime routine of acting out what’s wrong with what they’re doing,” said Wright, who’s in charge of the club stewardship of the central Richmond park.
and those pesky luxury car driving pumpkin thieves … what a gong show we live in.
Victoria community up in arms over neighbour’s backyard fowl
https://globalnews.ca/video/4270800/victoria-community-up-in-arms-over-neighbours-backyard-fowl/
I think I’ve figured out why some of us have been at odds here on this blog. That’s because you’ve focus on Vancouver and Burnaby while i focus on the valley.
Browsing MLS, here is the price for teardowns.
South Vancouver $1.3 million
North Surrey $900K
Abbotsford $700K.
Thats is oddd. Vancouver should be much higher or North Surrey or especially Abbotsford should be much lower.
No it’s because you make stuff up and use sock puppets. These factors, when combined with your ignorance and arrogance, make you quite authentically unlikable. So, to be blunt and direct, the non-Surrey focus is probs at the end of that very long list as to why folks are at odds with you.
In all honesty. I don’t really care. I’m. It here to be likeable. I just give what I think are facts and blast any things I consider naive.
Sorry you can’t take that.
Abbotsford just went tits up as did the rest of the valley.
http://www.vancouvermarketreports.com/
How did MOI go from 5.7 to 7.1 in a mere 2 weeks?
Wow…..just……holy shit.
I hope your right. Just doesn’t make sense. It’s so hard to commute from Chilliwack. Houses there should be $400k max.
Little doubt about where this market is going when price changes outnumber sales.
New
318
Price Change
113
Sold
106
TI:12477
Nice! 13k by the end if June!
+109 to inventory today, a little higher than the average daily gain.
13 business days left in June.
Canadian hospital sues mother of million-dollar baby, amid growing concern over Chinese birth tourism
Dozens of ‘baby houses’ have sprung up in British Columbia to house pregnant Chinese women seeking automatic Canadian citizenship for their children, with one in five births at Richmond Hospital involving non-resident mothers
http://www.scmp.com/news/world/united-states-canada/article/2150497/canadian-hospital-sues-mother-million-dollar-baby
Automatic birth citizenship needs to end, and the hospital fee for these vermin needs to rise 10 fold.
Correction:
Ban the pregnant vermin from our hospitals, put them on a flight back to the motherland.
Charge them a 100% markup for the flight.
Baby goes back into womb….then backfill with cement.
first course of business…cancel passport and revoke citizenship until bill paid. if this person or relative then tries to re-enter country, make them jump through every conceivable hoop
Province should only enforce existing simple rules when it comes to birth tourism.
“Littering prohibited
3. No person shall discharge, dump, discard or dispose of litter within the Province, except
(a) in compliance with a permit issued under the Waste Management Act;
(b) where litter is burned in compliance with the Forest Act, or a bylaw, permit or licence of a municipality or village;
(c) by burying and covering with not less than 30 cm of clean soil; or
(d) where disposal facilities are provided, in compliance with proper and accepted methods of disposal using those facilities, and in accordance with the Health Act and regulations.”
You’re such an uneducated prick.
Everyone knows that locust lies, cheats, and steal to no end. This is a cautionary tale that if you deal with a locust at your financial institution, exercise your rights and demand an honest Canadian to serve you! Or else, you WILL BE a victim of scams like this one:
https://globalnews.ca/news/4269091/atb-financial-1-million-stolen-fraud-red-deer/
Mounties in central Alberta have arrested a former ATB Financial bank worker for allegedly stealing $1.1 million from her employer.
RCMP said the woman was working at the ATB Financial branch in Sylvan Lake when she forged a customer’s signature and obtained a loan in the customer’s name.
Just so SIDA doesn’t get pissed…
Did the driver have:
— black hair,
–skin colour of jaundiced tone,
–driving a luxury car,
— arrogant,
—-holding up the pre-sale line-up
———and scouting out pumpkin patches?
Officers uncovered numerous other loans using the personal information of clients and people the employee knew, to the total amount of $1,148,020. The woman was fired as a loan officer.
What that criminal has to do with locusts? Locusts are vermin of another kind and different agenda.
Former cocaine and fentanyl packaging house listed for 419k or $784/sq ft
http://www.richmond-news.com/real-estate/high-price-of-a-starter-condo-former-crack-den-listed-at-419k-1.23333084
“Material Latent Defect: Previously used as an illegal substance packaging house for cocaine/fentanyl/marijuana.”
“financing may be an issue”
>>> but being conveniently located in the swanky up and coming neighborhood near Kingsway and Nanaimo should be enough to get at least a few remaining FOMO buyers excited in this property full of “potential”
According to a report card on seniors’ poverty, BC has the worst rate in Canada, which clocks in at 33% higher than the national average
https://globalnews.ca/news/4269147/bc-worst-poverty-rate-seniors-canada-new-report/
Vancouverites, according to a survey conducted by San Francisco-based payments startup Square, are the stingiest tippers in the country
https://globalnews.ca/news/4269109/tipping-best-worst-provinces-cities-in-canada/
What is your point? Japan has no tipping culture with the most superb customer service. Does it mean Japanese are stingy? I don’t think so.
Bears believe getting something for nothing. So obviously they think servers doing their jobs should get extra from customers, and should be based off the amount the customer orders rather than the actual work. I mean, is there much difference in carrying $100 entrée plate vs an $25 entrée plate?
They don’t believe in employers paying people fair wage either.
My “understanding” is high end restaurants do not necessarily lure employees via wages…but via the much higher TIP$$$$. If you can afford a $100 meal….shouldn’t hurt to be generous…..even to See Saw.
I’d rather be charged extra for the experience and know that the staff are earning a decent wage. Tipping should be discretionary, not expected or relied upon. As pointed out already some countries manage to get by without the ridiculous tipping culture. At least we’re not as bad as the US, where it seems everybody has their hand out just for doing their job. Pay your fucking staff.
You guys are so self centred on housing west of Cambie that you have no idea what’s happening in the valley. Stuff you used to be able to afford.
Prices on condos up 60% as per latest report.
Don’t say I didn’t warn you. When NDP referdum fails or we have an election soon and Libs get back in to power, good luck finding anything in the lower mainland.
At least the Libs brought in he FBT and it had a huge impact. Ever since the NDP got elected, they allowed this shitshow to get worse.
If anyone gets their panties tied in a know over my comment, tell me why prices has to rise 60% under the NDP???
Why???
Wow oh wow!
The NDP are backtracking bigtime!
No PR!
Prices in valley up 60% in 18 months!
I am really sorry I voted for the NDP.
Housing ministry backtracks on fixed-term lease loophole
http://www.burnabynow.com/housing-ministry-backtracks-on-fixed-term-lease-loophole-1.23332395
” In a surprise move, the B.C. Housing Minister has backtracked on a controversial proposed change to the B.C. Residential Tenancy Act that outlawed the use of fixed-term rental agreements except in the case of the landlord or their family moving into the unit on a long-term basis. The latest change is expected to benefit owners of recreational property, such as those who rent a cottage or ski condo during the off season and then take it over for two months in the high season.”
Hahaha. What did I tell you guys?!
Backtracking NDP.
“property owners can boot out tenants if the landlord moves in for just eight weeks”
Wow, have the NDP have back tracked on every housing promise now? Basically all a landlord has to do is leave a place vacant for 8 weeks and they can kick a tenant out for any reason. They don’t even have to move in., just “take it over for two months”. The NDP are a disaster. Things have never been worse for housing in BC. I hope Airbnb paid them well for this.
That is bad. Waiting for someone here to defend this move…
They just enabled a loophole to evict people and then rent at a much higher rate just 2 months later.
Breaking News! Justin Trudeau will run for the B.C. Liberal Party with Christy Clark as deputy premier and special adviser. From my insider sources & realtor buddies, he will resign from the federal Liberal Party since he knows the B.C. NDP will lose the snap election and fail the referendum. He’s doing an excellent job making the broke American Trans Mountain great again. Billionaires getting their bonuses. Trudeau will remove all spec taxes and destroy the NDP to make B.C. great again ! He’s planning on cancelling all the money laundering investigations because there isn’t any in the first place. Remember sales only go up, prices even higher.
Get lost. “Oracle”. Such an idiot.
See Saw ?
…. is that you ?
Sh*t
I like the new Oracle. At least he’s self aware, has some humility, and we can laugh. The “real” one is just sad and annoying.
It’s the one that want to be like me. He’s a loser. Mine has the green avatar.
You can scroll a few weeks back and you can know who it is. But can’t waste my time.
Why not just become a member and then there is no question?
This is getting real folks. There is open talk about an election being called if the speaker resigns and the NDP guy vacates his seat.
RIP Referendum. NDP had a chance to make change on housing. Back to opposition for another 16 years. They deserted their base. And the base doesn’t even know it.
Liberals will cancel all the housing changes in the first month. And these NDP morons are still studying the issue.
All it takes is the speaker resigning. If he resigns, the Leg would be deadlocked, resulting in an election. Who has speculated on that?
You’d think the guy wants to live in Abbotsford in the future. If he props up the government full term and enables PR to pass, I don’t think that’s going to be possible for him.
I also think a recall campaign will be tremendously embarrassing for his legacy, whether or not they hit the voter threshold. One possible outcome is he resigns the speaker role before the campaign can be filed.
” If he resigns, the Leg would be deadlocked ”
Not right away. If he quits or is recalled, you then have 42 Lib, 41 NDP, and 3 Green. The new speaker would be NDP/Green leaving 43 on the floor with the government and 42 against. It’s when the seat gets filled with another Lib that things get tricky.
If he steps down, the reason would be that he isn’t supporting the government. So, my scenario assumes he votes against the government. He just needs a face saving reason to step down, and when it presents itself, I predict he takes it. That could be PR. Let’s say his riding votes strongly against it (are they counting votes this way?), then I think it’s not possible for him to prop up the government. I think the public and press overestimate the odds of this government going full term. I doubt the NDP strategists do though. At some point, you have to take a shot at a majority. I say that happens in under 12 months. I think the dynamics with the Greens change after the Referendum. If it fails, they don’t need to prop the NDP up. If it… Read more »
“Sydney Home Bubble Deflates as Loans Revisit 2008 Losing Streak”, Bloomberg
“The downturn is most prominent in Sydney where prices slid 4.2 percent in May from a year earlier, when they were rising at an annual pace of 17 percent. ”
“A key factor weighing on Sydney’s market is tighter credit, as regulators force banks to cut back on the riskiest mortgages. Fewer interest-only loans — which are cheaper in the early years because borrowers don’t repay principal — means Sydney prices are now out of reach for many investors. Chinese buyers, a previous driver of demand, have also receded due to difficulties in moving cash from the mainland.”
“This expert says economic fundamentals aren’t to blame for Canada’s sky high housing prices”, BuzzBuzzNews
““The argument that fundamentals in Vancouver are strong and therefore price gains, almost five-fold since 1999, are not unusual is ridiculous,” he writes. “For one thing, Vancouver has always been in the same location and there have been serious house price corrections in the past, although not recently.””
“MacBeth calls the notion that Toronto prices have risen due to high levels of immigration “nonsensical,” saying that the city has been experiencing same amount of immigration for years.”
“Canada’s Soaring House Prices Could Mean A Baby Bust Ahead”, Huffington Post
https://www.huffingtonpost.ca/2018/06/11/house-prices-canada-birth-rate_a_23456339/
“A new study from real estate site Zillow, looking at six years of house-price and birth-rate data in the U.S., has found a clear link between rising house prices and a falling pregnancy rate.”
“That could have meaningful consequences for Canada, particularly the Toronto and Vancouver areas, which have seen rapid house-price growth over the past decade.
“Vancouver rents stop growing, listings spike amid new taxes and renter protections: data”, Global News
https://globalnews.ca/news/4267960/vancouver-rental-costs/
“The cost to rent a unit across Vancouver hasn’t exactly dropped, but it hasn’t grown much over the past three months, either.”
“One of the big reasons for this is “strong volume growth,” “The city saw rental listings grow by 15 per cent between April and May, with much of the growth happening in one- and two-bedroom units.”
Rents grow from July to September. That’s when the new crop of around 40,000 new international students flies in.
If anyone wants to move, Donit before Aug.
Oracle, why don’t you buggar off once and for all? You and your phoney “proginistications”…
What’s so phoney? I know many people’s who’s relatives are going to start studying here this fall. And they are arriving in July/Aug and school starts in September.
It’s a fact even though you may not like it.
Rental wars in those months. Same happened last year.