Saturday – let’s do a Free-for-all!

It’s the end of another week and that means it’s time for another free-for-all open topic discussion thread. Normally these are posted on Friday, but eh, we’re only human!

Here are a few recent links to kick off the chat:

Housing critic see not conflict in developer cash
Poor millionaire homeowners revolt
Canadians drive up prices, blame foreigners
Money laundering collective system failure

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

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Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

From News1130 (won’t bother posting link to avoid moderation, just google it):

SFU Political Scientist David Moscrop doesn’t think this will hurt Coleman if he decides to seek the mayor’s chair in Surrey.

“I don’t think it’s going to torpedo his career. He’s liked by the people who like him and they really like him. Thirty per cent of American voters like [Donald] Trump, no matter what. There’s a certain percentage of voters in Surrey who are going to like Rich Coleman no matter what. That’s just baked in. That’s just part of politics.”

Moscrop adds Coleman has a strong following, so he has good reason not to talk about his government’s failure to crack down on dirty money in this province that in a report earlier this week, linked it money laundering to high real estate prices and the opioid crisis.

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again
So Rich Coleman, goes from a background of law enforcement to politics and because Minister of Gaming and Minister of Housing, the two areas that fall sway to massive money laundering. Everyone is screaming there is a problem, he turns a blind eye and quashes the RCMP task force to investigate. Meanwhile thousands of British Columbians are fleeing our cities and our province because housing costs are beyond reach of local workers and thousands more are dying in a modern-day version of the Opium Wars. And Rich Coleman just gets to walk away scott free and go on to become mayor of BC’s second largest city (can be a catapult to national politics, see Dianne Watts). Wow! Just wow! (I promise I am not Oracle) The political scientist is probably right though. The homeowners of the Fraser Valley will keep… Read more »
Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

Oh and when Coleman eventually does fall hard, watch out! British Columbians will think the Big One megathrust 9.5 earthquake has finally struck!

BubbleTea
Guest
BubbleTea

Biggest immigration fraudster in Canadian history left $900K fine unpaid
The man imprisoned for committing the biggest immigration scam in Canadian history was released on early parole even though he had not paid more than $900,000 in fines.
The board also noted Xun (Sunny) Wang had transferred all of his assets to his spouse “to avoid the Canada Revenue Agency fines.”
At his trial in 2015, the court heard Wang made $10 million through his two immigration-consulting companies, New Can Consulting and Wellong International Investments Ltd.
https://www.cbc.ca/news/canada/british-columbia/xun-sunny-want-release-fines-immigration-1.4727253
Who says crime does not pay, especially if you live in Canada!

YVR
Guest
YVR

Does anyone know what John Horgan is saying here? I can’t understand him.

https://www.youtube.com/watch?v=gPTyR3l6ewc

Oracle
Guest
Oracle

“We aren’t going to affect the equity of hard workers”

YVR
Guest
YVR

Another week, another new NDP tax.

“Metro Vancouver drivers getting hit with 1.5 cents a litre gas-tax hike”

http://vancouversun.com/news/local-news/b-c-government-hitting-metro-vancouver-drivers-with-1-5-per-litre-gas-hike

Stand up for Canada
Guest
Stand up for Canada

Don’t forget the 10% tariffs on a bunch of items coming on Canada Day. Oh Canada!

Dave
Member

File under YVR Squeeze.

Oracle
Guest
Oracle

Funny how NDP really wants to turn on its voters. Obviously they told the mayors to quickly pass this. These are the mayors who work hand in hand with developers and the BC Libs.

Why couldn’t they pass the Speculation tax this quick???

Why have townhall meeting for the spec tax and none for this tax?

Something is rotten.

Just me
Guest
Just me

This has been decided by mayors only. Of all political colours. Stop spreading fake news.

YVR
Guest
YVR

It was decided by mayors the day after the NDP gave them permission to do it. It was one of the slimiest moves of the NDP so far. Purposely making this change the day before the mayors meeting so there would be no public debate.

YVR
Guest
YVR

Drivers in Metro Vancouver may be feeling the pain at the pump even more as the region’s gas tax might be going up to 18.5 cents per litre and some angry mayors are accusing the provincial government of forcing them to do this.

http://www.news1130.com/2018/06/28/another-gas-tax-hike-possible/

Just me
Guest
Just me

Again, this is politics at its most squalid. They can say no. They want the cake and eat it too.

YVR
Guest
YVR

“They can say no.”

The BC Liberals told the mayors to get the funding from property taxes. The mayors said no to raising property taxes. The NDP came along and said no problem, we give you permission to increase the gas tax instead so you can keep property taxes low.

Sounds like you support protecting these home owners hard earned equity by keeping property taxes low. I’m glad you enjoy paying their way. Especially considering it is property owners who benefit with higher land values with these transit improvements.

Just me
Guest
Just me

Quite the opposite. If the mayors (of any party) had any backbone, they would raise property taxes which inefficiently low in Vancouver. But the political costs of that would be even higher than increasing gas taxes. So, all of them chose the easy way out.

I support increasing property taxes, and the mayors showed a total lack of leadership. All of them. Blame the NDP as much as you want, but no mayor (including, and perhaps especially, the very conservative ones) has shown any willingness to raise property taxes. The only one who has touched the issue is David Eby, who has more cojones that the bunch of them put together.

Just me
Guest
Just me

Why didn’t the many right-leaning mayors object to it? I did not hear a pip.
I don’t care about right and left, but it is annoying to have the persistent partisan nonsense you spout. Stick to facts. Possibly RE related, please.
We have bigger fishes to fry than some silly diatribe based on political classifications from the 1970s.

YVR
Guest
YVR

“Why didn’t the many right-leaning mayors object to it? I did not hear a pip.”

You didn’t hear a pip because the NDP made the slimy move of implementing this change just 24 hours prior to the mayors meeting where they had to make the decision. It should have been proposed and debated publicly months prior to the meeting.

Just me
Guest
Just me

They could vote no. It would have been honorable behaviour.

They want the money it not the blame. Political convenience at its best, from all sides.

YVR
Guest
YVR

Website and Twitter feed created for possible future recall campaign against Attorney General David Eby

https://www.straight.com/news/1096616/website-and-twitter-feed-created-possible-future-recall-campaign-against-attorney

YVR
Guest
YVR

The groping allegation against Prime Minister Justin Trudeau is an exquisite case of poetic justice.

By not personally addressing the allegation, he is hoping the public will ignore the blatant inconsistency between how he judges others and how he hopes he will be judged himself

https://nationalpost.com/opinion/joe-oliver-groping-allegations-snare-justin-trudeau-in-a-trap-he-created-himself

xhistory
Guest
xhistory

“The Zohar teaches us that three most negative months of the year are Cancer, Leo and Capricorn. In esoteric astrology, “negative” refers to judgement. Therefore, during these three months, we find Judgement is more direct, that is, there is less Mercy in the Universe, less time between cause and effect, less time between our actions and there consequences.”
Philip S Berg

southseacompany
Member
southseacompany
“CMHC Finds Irrational Exuberance in Vancouver & Toronto”, Vancouver Condo Guide http://vancitycondoguide.com/cmhc-irrational-exuberance-vancouver/ “A recent publication from CMHC highlights strong human behaviour dynamics have been playing out in the Vancouver & Toronto Real Estate markets. After surveying 30,000 recent homebuyers, CMHC found evidence of euphoric and perhaps irrational behaviour.” “CMHC believes home buyers may have experienced a fear of missing out, citing that homebuyers measure the value of a home through rule of thumb mechanisms like, “it’s a hot market, I can’t miss out, it’s really tight right now-will have to revise our budget if we want to get in” all of which are phrases pushing homebuyers to overvalue an investment.” “The report also finds that nearly 68% of respondents in Vancouver believe foreign investors have a lot of influence and driving up home prices. In Vancouver, the influence of investors… Read more »
Shut It Down Already (original)
Guest
Shut It Down Already (original)

No shit?

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

No shit you are employed by the Chinese Govt?

Or

No shit that everyone who disagrees with you is a racist?

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

Stop embarrassing yourself.

patriotz
Member

“Now you can see why foreign buyer taxes have been so popular.”

And that perception is how the FBT, and the other narrow-focus tax – the spec tax – can have an impact far beyond the few % of owners who are actually affected. The RE industry understands this and that’s why they are so opposed to the NDP’s measures despite their small direct scope.

Best place on meth
Member
Best place on meth

““The report also finds that nearly 68% of respondents in Vancouver believe foreign investors have a lot of influence and driving up home prices. ”

No wonder the locals joined the frenzy, they would have given up a long time ago if it wasn’t for the money launderers from china causing all the FOMO.

Name
Guest
Name

Absolutely. IMO basically all the money coming in from China over the last decade is tainted in one way or another. Even if it’s just some factory owner paying their employees 10 cents a day that’s tainted with slave labour. Never mind the blatantly stolen money or from bribes or illegal activities or what have you; it’s all bad.

BubbleTea
Guest
BubbleTea

Stop whitewashing the bloodstains from BC’s Dirty Money Laundromat By Sandy Garossino
https://www.nationalobserver.com/2018/06/30/opinion/stop-whitewashing-bloodstains-bcs-dirty-money-laundromat
“I only have a daughter.” These were the last words of Lilly (Rong) Li, before she was strangled to death by two men in May, 2006. She was abducted, robbed and murdered after leaving her shift at River Rock Casino.
But Li wasn’t a River Rock employee, she was a loan shark.

Best place on meth
Member
Best place on meth

Bring on the civil war!

https://www.zerohedge.com/news/2018-06-30/canadian-restaurant-destroyed-yelp-after-maga-hat-incident

I hope you never get another waiter job again, AIDS.

Best place on meth
Member
Best place on meth

Here’s a non ZH link for the whiny, triggered, traitorous piece of garbage that makes VCI stink so badly.

http://thehill.com/blogs/blog-briefing-room/394989-yelp-reviewers-give-canadian-restaurant-one-star-reviews-after-it

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

“You smell”?

Way to spend yet another Saturday night, loser. I blame those nasty foreigners.

BubbleTea
Guest
BubbleTea

Is British Columbia the corruption capital of Canada?
https://www.theglobeandmail.com/opinion/article-is-british-columbia-the-corruption-capital-of-canada/
“the matter reached a head in 2012 when the River Rock accepted $100,000 in $20 bills from a patron, who used $3,000 in chips from his pocket to play and then cashed out.” In less time than it takes to run to the store for milk, this guy had cleaned $100,000 in dirty money.
The same guy returned the next day with another $100,000 to launder.

Specuskeptic
Member

Blistering piece on the money laundering… https://www.nationalobserver.com/2018/06/30/opinion/stop-whitewashing-bloodstains-bcs-dirty-money-laundromat

“Stop whitewashing the bloodstains from BC’s Dirty Money Laundromat”

“This wasn’t the fallout of a turf war between competing enforcement arms. There were people in charge who made decisions that defied every principle of prudent governance. Like firing Joe Schalk, senior director of investigations for B.C.’s Gaming and Policy Enforcement Branch (GPEB). Schalk is the man credited by German with ringing the alarm back in 2012, but he was fired without cause in 2014, after relations between and BCLC had broken down.”

… just getting started.

Best place on meth
Member
Best place on meth

Coleman again.

That piece of shit should be hiding out in a third world country, instead the shameless fat fuck is running for mayor.

Hang him.

Name
Guest
Name

We should all be contacting him (or his office if he’s in hiding), and tell him what we think of him. Same goes for Christy Clark; call the law firm she’s working for and give them a blast.

Name
Guest
Name

We should also be telling Eby to charge those Liberal politicians with criminal activity.

YVR
Guest
YVR

No, we should be telling Eby to actually do something to stop the money laundering. Banning presales to foreign buyers would also be nice. Studies and campaign style press conferences are not going to do it. Time to keep his election promises and get on with governing rather than petty politics.

Specuskeptic
Member

You are fucking pathetic and desperate. “Waaaare Eby?” The real fucking question: Where is Coleman and why is he not in fucking jail?

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

Coleman is not in charge Eby and the NDP are.

Specuskeptic
Member

So it was Eby who ignored the problem for 10 years, squashed the report, and trash-talked the cops investigating? Got it. Give your heads a shake.

YVR
Guest
YVR

You are living in the past. Coleman has no power now. Eby does and is doing a similar job with actually stopping the issue.

Screwed
Guest
Screwed

https://globalnews.ca/news/4306119/marc-cohodes-money-laundering-vancouver/
An ex-Wall Street short seller’s drastic advice for saving Vancouver’s economy — and itself

Just me
Guest
Just me

“Seize assets. Prosecute. Pay whistleblowers.”

“Those are just a few recommendations Marc Cohodes has to save Vancouver’s economy.”

“The BC Liberals and Christy Clark hid under the guise that it was good for the economy, when in fact unless something happens — and happens soon – it’s going to destroy the economy and may destroy the city.”

YVR
Guest
YVR

“Seize assets. Prosecute. Pay whistleblowers.”

In other words time to stop studying the issue we already know about and do something. Hello Eby. Are you listening?

YVR
Guest
YVR

“Eby has all kinds of tools at his disposal do to something now”

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

YVR you are starting to get a little too partisan.

YVR
Guest
YVR

Sorry I should stick to your high standards as your name suggests: MAKE TRUDEAU A DRAMA TEACHER AGAIN! The most partisan tittle you can come up with. I was quoting Marc Cohodes directly. You know presenting facts not name calling. Cohodes is the one who said “Seize assets. Prosecute. Pay whistleblowers.” and “Eby has all kinds of tools at his disposal do to something now” and claims to be Eby’s friend. If you want to be join in the group think where Eby and the NDP can do no wrong and ignore the hypocrisy go ahead.

Just me
Guest
Just me

““I think the B.C. government needs to seize assets, sell the assets at an auction, split half the money with the Chinese government, split half the money with B.C. and give the whistleblower or finder, say, 10 per cent.”

It’s a dramatic proposal for a dramatic problem in British Columbia: the blend of organized crime, drug trafficking and a housing affordability crisis.”

Just me
Guest
Just me

“Cohodes takes issue with the finding in Dirty Money that only $100 million has been illegally funneled through B.C. casinos.

“The numbers in my mind are in the tens of billions of dollars and I think the reasons those numbers don’t come out is because the government doesn’t want to scare the hell out of people,” he said.

He’s recommended to Eby that authorities reward whistleblowers who tip off the government to drug trades or luxury home and car ownership”

Name
Guest
Name

We know there was $13.5 million laundered in one month so the total of $100 million in total is laughable.

Name
Guest
Name

and that $13.5 million was at only one casino.

YVR
Guest
YVR

Of course a $100 million over 10 years is a joke. That is less than $1 million per month. Eby is covering it up as Cohodes said. That way he keeps 98% of the dirty funds flowing and only has to stop 2% to call it a success. I can’t believe people fall for this stuff.

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

Why would Eby cover something up that made the Liberals look terrible?

YVR
Guest
YVR

Because the NDP want to keep it going. The study was necessary because the media was calling them out. Without the Chinese money BCs economy goes down the drain and the NDP know it. Everything they do will be a half measure at best to keep the party going.

realist
Member
realist

from Zero Hedge: “In San Francisco, Families Making $117,000 Qualify For Low-Income Housing”
https://www.zerohedge.com/news/2018-06-30/san-francisco-families-making-117000-qualify-low-income-housing

” To qualify for low-income housing in San Francisco County or the nearby San Mateo and Marin counties, a four-person household can make as much as $117,400 a year. The same goes for a one-person household raking in $82,200 a year. That’s the conclusion of a new report from the Department of Housing and Urban Development…”

Just me
Guest
Just me

How CBC journalists laundered $24K at B.C. casinos

http://www.cbc.ca/news/canada/british-columbia/bc-money-laundering-1.4729400

“In May 2008, I found myself staring into the bright glow of a slot machine, a thick wad of $20 bills in my lap, wired with a hidden camera and armed with a mission: “launder” thousands of dollars in taxpayer money.

I didn’t lose a penny. But I found a major story.”

YVR
Guest
YVR

The sad part is you could do the exact same thing today. Year 2 and little has changed.

Name
Guest
Name

Go ahead and try it, tell us what happens.

YVR
Guest
YVR

Just went there. This guy was there to help with the duffel bags full of cash. I couldn’t understand him.

https://www.youtube.com/watch?v=IAs66O1H340

Best place on meth
Member
Best place on meth

You suck at comedy.

Really suck.

Name
Guest
Name

He posted the same link earlier too. He’s trying for maximum effect.

YVR
Guest
YVR

I know my comedy is not great but Horgan looks great in those Chinese pajamas and his Mandarin is excellent. Is he going to start speaking Marinara that to the legislature soon?

patriotz
Member

“Horgan looks great in those Chinese pajamas and his Mandarin is excellent.”

I don’t know if that’s supposed to be a joke but the title of the video is “BCNDP John Horgan’s Lunar new year greetings in Cantonese”. It’s also 3 years old.

YVR
Guest
YVR

Check this one out. Horgan speaks both Mandarin and Cantonese apparently.

https://www.youtube.com/watch?v=gPTyR3l6ewc

BubbleTea
Guest
BubbleTea

“The numbers in my mind are in the tens of billions of dollars and I think the reasons those numbers don’t come out is because the government doesn’t want to scare the hell out of people,” Marc Cohodes
https://globalnews.ca/news/4306119/marc-cohodes-money-laundering-vancouver/

kabloona
Member
kabloona

You beat me to the punch…..nice interview with Cohodes.

🙂

southseacompany
Member
southseacompany

“Economy shows the time is right for interest rate hikes – BoC’s Poloz”, Mortgage Broker News.ca

https://www.mortgagebrokernews.ca/news/economy-shows-the-time-is-right-for-interest-rate-hikes–bocs-poloz-244538.aspx

“Bank of Canada Governor Stephen Poloz stated that the economic “big picture” at the moment warrants a gradual increase in interest rates, especially since these rates are still hovering at historically low levels.”

“Poloz said that he is expecting to continue raising interest rates due to inflation already reaching the BoC’s 2% target. He didn’t provide a specific timing or pace of any possible hikes, however.”

Best place on meth
Member
Best place on meth

Inflation should creep even higher with Turdeau’s retaliatory tariffs coming into effect today.

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

Today on Canada Day…

Drove around Richmond…then off to Fort Langley

RE was creepy….the SHTF…..lots of FOR SALE….few if any SOLD…..especially Strata…..nothing selling.

…….again..looks like RE judgement day has arrived.

No Chump
Guest
No Chump

Why so surprised? After all, that’s what happens in a RE crash.

Best place on meth
Member
Best place on meth

Mexico has a new Marxist government.

They’re about to go from third world failed narco state to full on Venezuela.

RIP NAFTA

Name
Guest
Name

Mexico’s victor reaches out to Trump, seeks NAFTA deal

http://www.news1130.com/2018/07/02/mexicos-victor-reaches-out-to-trump-seeks-nafta-deal/

“We are never going to disrespect the U.S. government, because we want them to respect us,” Lopez Obrador said. “At the appropriate moment, we are going to get in touch, to reach an understanding” with the Trump administration.

this guy appears to understand how to deal with Trump who is also a despotic dictator as opposed to Mr. Dressup Socks who is saying we won’t be “pushed around by America” and is more busy with gender issues and weed.

Dave
Member

I wonder if this guy in a Nationalist, like most Hispanic socialists. If so, that’s something he and Trump will have in common.

The problem Canada has is lack of negotiating clout. We used to have oil and now we try to keep in the ground. Water is the only thing we really have and that’s even more contentious than oil. Truth is, we’re going to lose on these new NAFTA negotiations. The only way to win is for Trudeau to support Trump internationally, which he won’t do. Harper would have played that role well. But Trudeau can’t because it’s politically untenable to his base.

bullwhip29
Guest
bullwhip29

Outgoing Vision council doing ‘chainsaw massacre’ to city zoning without public consent
http://vancouversun.com/opinion/op-ed/elizabeth-murphy-outgoing-vision-council-doing-chainsaw-massacre-to-city-zoning-without-public-consent

The City of Vancouver passed reports at council last month to rezone across the city without public consultation. With only three business days to respond, the public got their first look at 680 pages of major policy documents proposed for approval. These included rezoning across the city in all RS (detached) and RT (duplex/infill) zones to multi-family under the Housing Vancouver strategy and Making Room reports…

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

In the good old days….more accountable….they would put a blindfold on….maybe had a last cigarette..line up against a wall.(…you get my drift…)

Actually…..expect this sort of BULLSHIT from a lot of Local Gov’ts prior to the upcoming civic elections…

………many current mayors are not seeking re-election…many councillors are either long in the tooth or feel a purge breathing down their necks…so their handlers have their marching orders in final draft mode to pass all sorts of legislation.

PS: VISION has likely been THE biggest disaster in betrayal to their supporters..but such is life when you vote for lying commie bastards.

realist
Member
realist

Well worth a read. The end of zoning for the single family home in Vancouver is only a few weeks away…Singapore, here we come. And yet, still, homelessness will continue, and increase.

bullwhip29
Guest
bullwhip29

Land costs force Richmond School District to abandon City Centre school
http://www.richmond-news.com/news/land-costs-force-richmond-school-district-to-abandon-city-centre-school-1.23352874

>>> translation: low to middle income families who intend on sending their kids to “public” schools are not part of Richmond’s future

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

Actually…its called planning….McMath High School in Richmond was based on land acquisitions in the vicinity for 30+ years.

When Lansdowne Mall was built…Woodwards only needed 50 out of 80 acres in 1970’s…it gave City Of Richmond 30 acres East of the Mall…(where Kwantlen and Hi Rise now exist…)……City sold this off.

IMHO the biggest scam are these earthquake upgrades….FFS one’s children are in school for approx. 6 hours per day/5 days a week…..aka 30 hours a week out of 168 hours….Engineers sure like to scam public with fearmongering and extort tax $$$$$.

realist
Member
realist

“translation: low to middle income families who intend on sending their kids to “public” schools are not part of Richmond’s future”
True, and how very sad. In the mid 1800’s, industrialization required literate and numerate workers; accordingly, education became a “public good” at the taxpayers’ expense – one of Victorian Britain’s gifts to the world. Now we have off-shored much production, and otherwise trashified the working classes – no one cares whether they can read or write, and so, increasingly,
they do not.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Richmond City Center is wealthy tax evading chinese. that neighbourhood probably has the lowest incomes in bc, possibly canada.

so abandoning an expensive school there is fine by me.

bullwhip29
Guest
bullwhip29
Lost...but not leased
Guest
Lost...but not leased

Like SIDA would say…..can’t name the usual suspects…that’s racist and UnCanadian
……. (they are probably having dim sum in Beijing as we speak)

YVR
Guest
YVR

Garth calls out the “sketchy report done for the BC Dippers alleging $100 million in dirty money was laundered through BC casinos over the past decade.” Like I said the NDP are still campaigning.

Over the past ten years there have been $1 trillion worth of residential real estate transactions in BC, most of them being in YVR and the LM. Because math is hard, let’s spell out what $100 million is as a component of one trillion dollars: 0.01%. Yup, statistically insignificant. Even if were all concentrated in Vancouver, still meaningless. Last year $37.8 billion worth of properties sold in that one city alone. So, if $10 million of that came from money laundering, it would account for ten properties, or 0.029% of all deals.

http://www.greaterfool.ca/2018/07/02/everybody-knows/#comments

southseacompany
Member
southseacompany

“Last year the Bank of Canada crunched the numbers and concluded 8% of the national population – those with borrowings of more than four times income – were at high risk if interest rates ever increased. Which they are.”

“By the way, when 8% of Americans became over-extended and wobbly, the entire market grew unstable. Then crashed.”

Ouch.

Just me
Guest
Just me

Woke, you are a fan of Garth Turner as well. What next? Support the nonsense that SIDA and BPOE write?

YVR
Guest
YVR

I don’t support anybody. I just analyse the real data.

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

Here’s a fact for you: Just Me has not so much as skimmed the report.

xhistory
Guest
xhistory

Has GT ever mentioned that houses have taken a page from gold and has become a store of value?

The new delicate nature of housing as currency, has exacerbated the housing of people crisis, as houses are treated as though they are Gold, under the auspices of assayers.

One wonders when housing has its Bre-X moment? Should we be following British -EU headlines more closely?

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

IMHO….some important point is being overlooked.

$100 million?…..wasn’t it reported that FAR LARGER sums were injected into the local RE market in 2015 ?….the accumulative effect is setting new benchmarks that the “rest of the buyers” attempt to play catch-up and the market gets heated up with more”irrational exhuberance”?

FFS B.C. Assessment only needs a few comparables to establish their terms of reference.

Name
Guest
Name

$13.5 million was washed in one month at River Rock Casino. With the “Vancouver Model” known by criminals the world over, that $100 million over 10 years figure is laughable. The real number must easily be in the multi-billions of dollars.

This one guy laundered $850 million just on his own over 10 years and there are thousands more like him.

http://vancouversun.com/business/local-business/international-money-launderer-arrested-in-bc-faces-deportation

No Chump
Guest
No Chump

You said yourself that For Sale signs are everywhere WITHOUT “SOLD” stickers on them. So, where is all this laundered money you claim that is now sloshing around in the RE market?

Just me
Guest
Just me

And of course the amount of money involved and being recycled is a lot larger.

Name
Guest
Name

GT wishes to remain willfully ignorant of the facts which is why I have no respect for him. He even calls Douglass Todd xenophobic and has banned all links to his articles just for documenting the facts.

YVR
Guest
YVR

“GT wishes to remain willfully ignorant of the facts”

Actually in this case Garth gave the facts. Real numbers. Which ones are you disputing? Or are your gut feelings more relevant. Either Garth is correct or the NDP study is inaccurate and is covering up what the real numbers are.

Specuskeptic
Member

So former deputy director Peter German is an agent of the NDP and deliberately tanked or botched the investigation? I think we’ve unmasked YVR here. Nice to meet you Rich Coleman you fat fucking douche. Do go on impugning the work of the investigators like you did before… LOL

Best place on meth
Member
Best place on meth

Even other liberal supporters think YVR is a hyper-partisan lunatic.

I’ve actually never seen anything like this before.

YVR
Guest
YVR

Must suck when the only argument you have is to try to personally attack the person posting. I guess with being an NDP boot licker it goes with the territory.

Bag it and tag it
Member
Bag it and tag it

OK so he’s criticizing the crackdown on money laundering because it’s an insignificant amount? So does than mean he wants to go back to ignoring it?
Definite theme here. He also complained about the FBT because foreign buyers are insignificant. What a douche.

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

Logic isn’t your strong point, I see.

Just me
Guest
Just me

In what way is BIATI wrong? Where is the fallacy?

People like you, Sam Sullivan, Henry Yu, Garth Turner are the ones who advance totally ridiculous and inappropriate arguments. You throw your logic to the scrapyard and focus on race baiting.

Shame on all of you, whatever your motives.

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

Garth is not saying that money laundering is to be “ignored” or that he otherwise condones it. He’s saying that in comparison to overall sales volumes it’s likely to represent a small fraction.

Now back away from the keyboard, imbecile.

Just me
Guest
Just me

Same thing that Sam Sullivan and Henry Yu claim. Blatantly untrue and unproven.

The flows of money being recycled are not represented in the figures reported. The reason we don’t have any good measures of the true flow is exactly that these kinds of people claim we should not measure them because it would be racist to do so.

I repeat it: shame on the bunch of you all. The general public has awoken to your blatant lies.

No Chump
Guest
No Chump

OMG, you just won’t give up, will you? It was LOCALS buying with cheap credit who fuelled this boom.

Oracle
Guest
Oracle

Recent immigrants buying multiple properties with foreign money. They need to tax third properties 5% per year with no exemptions so they’re forced to sel.

Dave
Member

This is just it. Nobody knows how much corrupt cash is flowing around this economy. I suspect it’s much larger than anybody knows.

Just compare Seattle to Vancouver. They have an unbelievable economy and more money, yet their situation is nowhere near as ridiculous than ours. The difference is that Americans are more effective at law enforcement. The CRA is useless.

patriotz
Member

“Just compare Seattle to Vancouver. ”

Seattle experienced a crash from 2007 to 2012. Prices there have doubled since the bottom. Vancouver prices haven’t doubled over the same period. I’m not claiming money laundering isn’t a factor in the Vancouver market, but don’t overlook the obvious when comparing Canadian to US markets.

realist
Member
realist

Seattle’s SFH price appreciation since bottoming in 2012 has outstripped Vancouver’s, however, that follows its 2007-2012 crash, during which prices declined by 33%. Vancouver’s SFH appreciation 2000-2018 greatly exceeds Seattle’s – compare Seattle’s Case-Shiller data with SFH data from REBGV.
https://fred.stlouisfed.org/series/SEXRNSA

Dave
Member

I think foreign money inflows, legal or not, is as big of a factor as cheap money. Either way, both are choices we make.

Name
Guest
Name

CRA does well when going after a waitress for her undeclared tips. No so well when going after international tax evaders.

Laibach
Member
Laibach

Of course, that is not racist act.

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

Re CRA

People think its a joke re CRA auditing minimum wage parties( ie tips for service staff…)

…………NO…do a GOOGLE search and see how for decades when SHTF its the little people that are nailed….seems more like psy-warfare so the wealthy can slip through CRA gauntlet.

CRA has been documented as having no appetite for going after the wealthy..ie it is too costly..WTF?…….=go after the weaker and squeeze from 100 people the same shekels as one wealthy party could provide…WTF???

I have noted in the past my EXECUTOR role and how I (and my accountant) are still waiting several months for a CLEARANCE CERTIFICATE to wind up the estate…

Joe Money
Guest
Joe Money

Average mortgage in Vancouver is $520k, while in WA it’s $325k (CAD)

https://vancouvertownhouse.ca/blog/vancouver-townhouse-whats-average-size-mortgage-vancouver/

Vancouverites have collectively taken on much more debt. Debt fuels price increases.

Joe Money
Guest
Joe Money
Just me
Guest
Just me

Wow, that is massive. You must be right.

Now I understand why the average house west of Cambie costs 3.5 million, while east side shacks go for 2 million.

It all makes sense.

Joe Money
Guest
Joe Money

But… here’s the key thing.. not too many people are buying those $2-3 million shacks.

I’ve been following Sotheby’s stats for a few years now. High end home sales (+$3 million) amount to only 5-7% of all sales in Metro. In fact, typically, around 80% of sales in Metro in the last decade were for homes less than $ 1mil. Here’s a snapshot from 2014.

http://www.bcrea.bc.ca/docs/economics-publications-archive/2015-06-foreign-buyers-research-report.pdf?sfvrsn=2

And that % has increased since then.

Bubbles, as usually, get pushed up from the bottom, not pulled up from the top.

Watch “The Big Short” again. Listen, learn, look up the stats, be informed.

Just me
Guest
Just me

Watch movies if you want. But the way our housing market has worked over the past 10 years is simple. Some buyers show up at the high end and buy up all expensive SFH is desirable areas. People who would normally live there simply move one rung down and start buying up stuff. Repeat.

The cash injection at the top has been massive. Add to this low-interest rates, the ability to leverage and the greed (of both foreign and local investors) that drives speculation of units in new developments. You get a recipe for disaster.

If people at the top started to liquidate and repatriate their funds, you would see the opposite dynamic take place.

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

You simply don’t get it. People are only happy to buy a compromise property because they anticipate being to sell it for more to a future sucker. Nobody is ever forced to buy.

Today there are low floor units facing directly onto busy intersections selling for virtually no discount – that will change, fast.

Joe Money
Guest
Joe Money

Injecting trillions of dollars of money, conjured out of thin air, into the world economy causes asset inflation. It’s not that the value of a assets like homes that has risen, it’s that the value of money that has fallen.

The vortex was created by central banks. All buyers have been sucked into this perfect storm. Who they are doesn’t really matter.

And as the money supply is now tightening – we are already seeing the slow down.

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

And you just brushed off facts with “watch movies if you want” and simply repeated your nonsensical unqualified opinions.

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

First time buyers aren’t the ones buying $2m homes. Move-up buyers will have smaller nortgages. And either way you just made up both of those numbers.

No wonder you’re hopelessly lost and generally fucking clueless.

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

Even the highest of the high end estimates aren’t a huge amount of the overall market.

The difference between Vancouver and Seattle is that it’s possible for people to hold a conversation there which doesn’t end up on the topic of real estate within 3 minutes. People simply don’t expect their place to magically increase in value for eternity, so there’s no panic to buy.

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

Again, nobody is saying we shouldn’t measure them.

You’re clearly incapable of honest debate.

YVR
Guest
YVR

“go back to ingnoring it”

LOL same thing as they are doing now minus the press conferences.

Oracle
Guest
Oracle
These clowns here will never get it. The casino thing is a deflection as that amount would but like 1 point here property per year. The next deflection is the smurfing of $50,000 to multiple people. Even that couldn’t buy a house. This is to play the naive while Rome burns. There is lots of money coming in. Being brought in illegally. By recent immigrants buying up multiple properties. And it’s brought in via import over invoicing. And it’s basically impossible to stop. This what can be don’t is to tax 2nd properties at 2% and third properties at 5% and so on. Only way to stop this. Otherwise properties in Chilliwack will approach $1 million as FOMO and Speculators anticipate more immigration. I’m not going to respond to the clowns here. Take these facts for what’s they are worth.
Oracle
Guest
Oracle

Second sentence should read “1 property per year in point grey”. This site full of viruses and bad code.

Dave
Member
Just me
Guest
Just me

They are clearly racist. Right?

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

No.

But as you brought the topic up perhaps you could enlighten me by explaining specifically what meets your definition of racism. It’s quite disgusting how you try to imply that every accusation of racism is falsely leveled yet repeatedly support those who use racial slurs.

Just me
Guest
Just me

“Racism (definition): prejudice, discrimination, or antagonism directed against someone of a different race based on the belief that one’s own race is superior.”

Criticizing individuals and families who launder money in our real estate market and push up prices in specific areas does not seem to qualify as racism. Neither do taxes that target such behavior (despite what Henry Yu, Sam Sullivan, and Garth Turner seem to consistently imply in their commentary).

Best place on meth
Member
Best place on meth

Once again, it’s race vs. culture.

Race is irrelevant, although desperate bleats of the race baiters never seem to cease.

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

Just Me agrees that you’re not a racist who certainly never uses racial slurs.

Best place on meth
Member
Best place on meth

Still whining about “locusts”, you fucking twat?

Go cry to the Hong Kongers and then piss off.

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

How was your weekend with loved ones in another timezone, racist loner?

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

Which individuals are you criticizing?

Answer: You’re not criticizing individuals.

Laibach
Member
Laibach

You are fucking sick, get help.

Joe Condo
Guest
Joe Condo