BC slides

Kabloona pointed out this article: “dramatic drop in home sales makes B.C. an outlier among provinces”

“VANCOUVER—B.C.’s real-estate market has gone from being one of the strongest in the country to the weakest as the number of sales drops sharply in comparison to other provinces.

The B.C. Real Estate Association (BCREA) is forecasting a 21 per cent drop in sales in 2018. Meanwhile, the number of sales in July was 24 per cent lower than the previous July, according to Douglas Porter, chief economist and managing director of BMO Financial Group….

“…..Compared to the rest of the country we are noticing that it’s especially weak, which is quite a turnaround from what we’ve seen over much of the past 10 to 15 years,” Porter said. “It’s quite unusual for Vancouver to stick out.”

Read the full article here.

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bullwhip29
bullwhip29
1 year ago

more on the mysterious fire at 1848 MacDonald…
https://twitter.com/mortimer_1/status/1031262845701251072

Specuskeptic
1 year ago

Home sales to go public: https://www.youtube.com/watch?v=ZJpOUfpaVXk

1) How long before we get it?
2) What will the effect be on prices?

bullwhip29
bullwhip29
1 year ago
Reply to  Specuskeptic

i would imagine that certain parties will drag their feet on this in BC. don’t hold your breath…

YVR
YVR
1 year ago

PETITION TO JUSTIN TRUDEAU

We, the undersigned, citizens of Canada, call upon Justin Trudeau to be held to the same standards as he has set for his caucus.

https://petitions.ourcommons.ca/en/Petition/Details?Petition=e-1787

SilentBob
SilentBob
1 year ago
Reply to  YVR

Signed.

M-
1 year ago
Reply to  SilentBob

Signed.

YVR
YVR
1 year ago

Ulrike Rodrigues said her 60-unit Fairfax building in Mount Pleasant had been “infested” with Airbnb listings owned by realtor Zul Jiwa, who has nine listings at the Fairfax, making up 15 per cent of all the building’s suites.

https://vancouversun.com/news/local-news/airbnb-story

YVR
YVR
1 year ago
Reply to  YVR

From the comments section:

How come it’s never someone named Smith or Jones doing this? Like the lady on Global said, “Park your car in the wrong spot for 5 minutes and the city will have a ticket on it but turn an apartment block or residence into a hotel for years and good luck getting the city to do anything about it”. Makes me sick every time I read about another selfish scam.

Shut It Down Already (original)
Shut It Down Already (original)
1 year ago
Reply to  YVR

I love it how some people waste their entire lives miserable, thinking that they’re hard done by and others are at some sort of advatage. “Life is so unfair” they bleat for decades. It’s fucking hilarious.

This idiot had probably just received a parking ticket, too, because they thought that the rules don’t apply to them.

YVR
YVR
1 year ago

He didn’t say others had some sort of advantage. He was asking why it always seems the same people cause all the problems. Then wonders why the City seems to enforce the minor bylaw violations with no citizen complaint that occur over 5 minutes but can let 15% of a building be run as an illegal hotel with regular citizen complaints for more than 4 years and do nothing.

Shut It Down Already (original)
Shut It Down Already (original)
1 year ago
Reply to  YVR

It not the same people who cause problems. It’s observation bias, which is generally a consequence of stupidity.

And obviously the differences in enforcement are due to differences in the resources applied. Surely you’re aware that for decades now millions of people have had careers enforcing traffic law?

YVR
YVR
1 year ago

“It’s observation bias”

Not when it involves real estate.

bullwhip29
bullwhip29
1 year ago
Reply to  YVR

read the article about airbnb hotel located on railway that the city of richmond trying to shut down at the behest of annoyed chinese neighbor who finds this sort of activity unacceptable. LOL…seriously, this is probably the only non-chinese owned one too…what a world…

paulb
paulb
1 year ago

New
112
Price Change
86
Sold
90
TI:12734

http://www.clivestevepaul.com

MAKE TRUDEAU A DRAMA TEACHER AGAIN
MAKE TRUDEAU A DRAMA TEACHER AGAIN
1 year ago

You guys haven’t figured out that for the right wing to even have a chance their vote can’t be a split.

This stunt will ensure we get 4 more fucking years of Trudeau and Beriner gets 1% of the vote.

YVR
YVR
1 year ago

Problem is all politics in Canada have moved too far left. The Federal NDP under Jagmeet are full on commie, the Liberals under Mr Dress up are gender neutral Marxists and Scheer is all over the map. We need someone who is going to bring up immigration, the open borders to “regugies” and the dairy cartel. Bernier may never govern but at least he will pull back some sanity into Canadian politics. Scheer was trying to silence him. We need Bernier speaking up for the good of Canadians.

Shut It Down Already (original)
Shut It Down Already (original)
1 year ago
Reply to  YVR

At less than 4 people per square kilometre the country is truly full!

YVR
YVR
1 year ago

How many people live in you home? Can you fit in one more? Good then you won’t mind a random person you don’t know and didn’t invite to move in illegally and you can pay his living expenses.

Shut It Down Already (original)
Shut It Down Already (original)
1 year ago
Reply to  YVR

The morons bleating about immigration arent being asked to share their actual home involuntarily. And, yes, I’ll gladly welcome dozens of immigrants to my neighbourhood. Would you?

YVR
YVR
1 year ago

I have no problem with immigration, but like anything you can have too much of it. I like eating, but if I eat too much I get fat and the enjoyment of the eating is offset by many negatives of being fat. We need to eat, like we need immigration, but there is a limit to what is benefit. We are over that limit.

Shut It Down Already (original)
Shut It Down Already (original)
1 year ago
Reply to  YVR

Tell us what the limit is then.

Ralph
Ralph
1 year ago

50,000 LEGAL immigrants a year is the limit. And we need to build a fence to keep out the thousands of ILLEGAL immigrants crossing into Canada.
Help to protect the Canadian border unlike Turdeau who is okay with undocumented aliens flooding in.

Shut It Down Already (original)
Shut It Down Already (original)
1 year ago
Reply to  Ralph

Can you provide some basis to justify that limit?

How long should the fence be, and of what sort of construction must it be to be effective?

Oracle
Oracle
1 year ago

Who’s with me on BernierNation!

Time to Make Canada Great Again!

I’m betting he will win a significant share of the vote. Battle ms coming up with CNN errrr CBC, CTV, Global ……the elitists and their minion followers.

MAKE TRUDEAU A DRAMA TEACHER AGAIN
MAKE TRUDEAU A DRAMA TEACHER AGAIN
1 year ago
Reply to  Oracle

The guy who can’t stop talking about coming out, like he’s the only guy to ever do it.

Bernier will never get the support to field 338 candidates.

bullwhip29
bullwhip29
1 year ago

Another home in Kitsilano located 2 blocks from the infamous $4M rubble pile mysteriously burns down; Property currently on market for $2.588 and being rented out on AirBnB
https://bc.ctvnews.ca/flames-pour-from-roof-of-burning-house-up-for-sale-in-kitsilano-1.4065633

>>> something stinks to high heaven here. anyway, let your imaginations run wild…

Lost...but not Leased
Lost...but not Leased
1 year ago
Reply to  bullwhip29

Interesting….

Wonder about insurance…vacant homes can’t be insured/ or insurance is void.

realist
realist
1 year ago

Insurance can be obtained for unoccupied dwellings, at additional cost, of course.

bullwhip29
bullwhip29
1 year ago
Reply to  realist

question is whether they will pay if they find any discrepancy in the disclosure provided by homeowner and how exactly this fire started in the first place. it is pretty clear this home had extensive renos but who knows if they were done properly. if fire a result of deficiency in some shape or form then homeowner might be up the creek on this. i don’t know…do the math…massive mortgage, must rent out bulk of home on airbnb, property listed at maybe not the most ideal time, has been on market for quite a while, listing price has been dropped but owners might just get a massive gift at precisely the right moment…phew…lucky them. well, i don’t believe in luck. authorities should investigate this BS to the fullest extent.

Simple Solution
Simple Solution
1 year ago
Reply to  bullwhip29

if they did not disclose to the insurance company they were operating a hotel they will have issues….

bullwhip29
bullwhip29
1 year ago

i think this was originally intended to be a quick flip with rental as a backstop. now we know, owner is a cheat and liar as some clever fellow out there noticed BOTH units were being rented out on airbnb under the same licence (one with W 3rd address, the other with MacD address…sneaky prick) now with cash flow issues, the owner opted to hit the EASY button (or so he thinks) and torch it to the ground. insurance co could easily see if suites are “legal” and up to code. take a wild guess what they will find?

bullwhip29
bullwhip29
1 year ago
Reply to  bullwhip29

edit: make that both suites being rented out on airbnb illegally using a single licence.

Patiently Waiting
Patiently Waiting
1 year ago

From the story: ” Listed at $325 a night, the home has a private two-level suite, and the owners live in a separate section, the listing suggests.”

KickThemOut
KickThemOut
1 year ago

Pathetic how low this blog has sunk with majority of spam links posts coming from fakers bullwhip and the guy who can’t stop shouting he is gay. The world moved on while majority of posters here are still stuck like its 2008/09 and chanting Garth’s doom and gloom predictions. So sad….

bullwhip29
bullwhip29
1 year ago
Reply to  KickThemOut

LOL…and yet you are still here (as is your pathetic profile on PoF). why the eff is that?

Oracle
Oracle
1 year ago

Things to do:

1) People here need to get the Bernier message out! Lower immigration rates will mean lower housing costs.

2) Vote YES in ProRef

3). Start provincial version of Bernier party and get > 5% of vote.

And there it is!!

Dave
1 year ago
Reply to  Oracle

5% will be easy. The crazy thing is that this Province is so divided, you’ll only need a couple seats to hold the balance of power.

On the flip side, the wackos on the other side have just as much of a chance.

Should be amazing watching a game of musical chairs being played between extremists.

bullwhip29
bullwhip29
1 year ago

A bus stop billboard at No.3 and Blundell roads is turning heads, not because of any product it’s selling but because of the politics it’s advocating for
https://www.richmond-news.com/news/richmond-bus-stop-billboard-calls-for-ending-one-party-dictatorship-in-china-1.23409277

>>> I guess all paying customers are free to do whatever the F%$K they like in this Crazy Rich town

Just me
Just me
1 year ago
Reply to  bullwhip29

“What also concerns the group is Chinese officials’ influence on local Chinese organizations, which is at “a level that should be brought to the attention of Canadian politicians,” said Huang.”

Meddling into our politics. PRC plays the long game.

Best place on meth
Best place on meth
1 year ago
Reply to  Just me

Why isn’t Turd being investigated for chinese collusion?

Oh, right.

Shut It Down Already (original)
Shut It Down Already (original)
1 year ago

If he were under investigation do you think he’d bleat about it every fucking day like a petulant child?

Best place on meth
Best place on meth
1 year ago

More like every hour.

In this case the collusion is real, not made up.

bullwhip29
bullwhip29
1 year ago

Richmond Mayoral candidate Hong Guo chimes in once again to dispel the trash talk and other criticism regarding her baffling decision to get involved in politics (when in fact she should have done the smart thing and skipped town like Ethan Sun and Julia Lau)
https://www.richmond-news.com/opinion/letters/letter-mayoral-candidate-hong-guo-said-urging-voting-doesn-t-mean-race-baiting-1.23409433

Ralph
Ralph
1 year ago
Reply to  bullwhip29

Her audacity knows no bounds.

Lost...but not Leased
Lost...but not Leased
1 year ago
Reply to  bullwhip29

Check out South Africa and how well that turned out….

PS hard to believe its less than 2 months to civic elections (OCT. 20 )

bullwhip29
bullwhip29
1 year ago

Illegal hotel operating in Richmond home shut down by city
https://www.vancouverisawesome.com/2018/08/23/illegal-hotel-richmond-bc/

>>> LOL, I wonder if this is the only one of these being operated by a Caucasian? it is also amusing how the city steps right in when a “concerned” neighbour like Joyce Wang speaks up about all the shenanigans, illegal activity, loud noise and various other indiscretions that might be bothering her. Totally brutal imho…

bullwhip29
bullwhip29
1 year ago

Six months after the New Democrats announced a new tax on real estate speculation, they continue to withhold key details about the rationale for the measure and how it would actually be applied
https://vancouversun.com/opinion/columnists/vaughn-palmer-secrecy-over-details-of-new-speculation-tax-almost-rivals-hst-hubbub

bullwhip29
bullwhip29
1 year ago

SCMP: Will banning Chinese and other foreign buyers solve homelessness in New Zealand?
https://www.scmp.com/news/asia/australasia/article/2160970/will-banning-chinese-and-other-foreign-buyers-solve

bullwhip29
bullwhip29
1 year ago

one car crash and all of Vanc Island shuts down…

Commuters demand improved route to Victoria after another Malahat Hwy closure
https://www.cbc.ca/news/canada/british-columbia/malahat-highway-closures-new-route-1.4796304

kabloona
kabloona
1 year ago
Reply to  bullwhip29

It was more like a sewage truck and an SUV, but okay…..

😉

bullwhip29
bullwhip29
1 year ago

Three-in-four British Columbians want the government to call a public inquiry into the practice of money laundering at casinos, according to a new survey
https://bc.ctvnews.ca/money-laundering-inquiry-supported-by-most-b-c-residents-poll-1.4065297

Lost...but not Leased
Lost...but not Leased
1 year ago
Reply to  bullwhip29

Casinos etc.

The problem is Eby and Horgan or ANY gov’t will only go so far….citizens will never get the whole truth. The mess is an intricately woven mess that would take many people down…even the “holier than thou” NDP…….(remember BingoGate?)

Oracle
Oracle
1 year ago

Bingo. NDP should have wrapped this up ages ago.

All games. No intent. Shows they are crooks themselves.

bullwhip29
bullwhip29
1 year ago

Hiking reservations pitched for B.C. parks in danger of being ‘loved to death’
https://vancouversun.com/news/local-news/hiking-reservations-pitched-for-b-c-parks-in-danger-of-being-loved-to-death

>>> everywhere you look there are busloads of investors disguised as tourists leaving various signs of their presence behind. if you take the air, sea and scenic land away from Vancouver and BC in general, what is really left?

Lost...but not Leased
Lost...but not Leased
1 year ago
Reply to  bullwhip29

Whats left…right?
GOOGLE potemkin village…

“Beautiful BC.”………Vancouver is a world class city…blah blah..mostly architectural paint and veneer
With a litany of bad Gov’t policies at all levels…the future IS bleak…

The Mountains, Ocean etc. over time simply look like a 3-D postcard..boring..

Horgan has apparently said our forest fires will be the new norm…..2 bad years in a row…how many tourist now are po’d at smog and future ones thinking twice?

Shut It Down Already (original)
Shut It Down Already (original)
1 year ago
Reply to  bullwhip29

Something else for the terminally dumb to blame on foreigners…

bullwhip29
bullwhip29
1 year ago

say what you want. maybe we should adopt some of the measures that have been implemented in Paris? like separate entrances and shopping areas for “tourists”? you basically can’t go to any semi well known destination in Cda without it being completely overrun by rude, obnoxious, ill-manned mainland chinese who see no problem flinging their excrement and other trash wherever they feel like it and essentially ruining the experience for anyone else that happens to be at the same destination

bullwhip29
bullwhip29
1 year ago
Reply to  bullwhip29

edit: maybe “ill-manned” but definitely “ill-mannered”

Nomad
Nomad
1 year ago
Reply to  bullwhip29

Ha! Did some 4×4 around Stave lake and Chilliwack river. Campers all seem to be locals – with boats and ATVs. You can’t believe what shit they leave behind its unbelievable. I even saw a freaking fire pit right under a tree. If locals don’t care why would visitors care?

kabloona
kabloona
1 year ago

“Supreme Court will not hear Toronto Real Estate Board’s appeal”

Canada NewsWire – OTTAWA, Aug. 23, 2018

“OTTAWA, Aug. 23, 2018 /CNW/ – The Competition Bureau today welcomes the Supreme Court of Canada’s (SCC) dismissal of the Toronto Real Estate Board’s (TREB) application seeking leave to appeal a December 2017 decision from the Federal Court of Appeal, a decision that upheld the Competition Tribunal’s June 2016 order addressing TREB’s anti-competitive conduct.”

🙂

https://www.morningstar.com/news/djnmndjbn,ndjen/CNW_20180823C1515/supreme-court-will-not-hear-toronto-real-estate-boards-appeal.html

KickThemOut
KickThemOut
1 year ago

Huawei banned in Australia now too!
https://www.zerohedge.com/news/2018-08-23/china-furious-after-australia-bans-huawei-mobile-network-project

Still being offered in Canada though!

Oracle
Oracle
1 year ago

Bernier set to make an announcement.

Hopefully a new political party the likes of which Canada has never seen.

Small government and immigration at rate of other G7 countries.

MAKE TRUDEAU A DRAMA TEACHER AGAIN!
MAKE TRUDEAU A DRAMA TEACHER AGAIN!
1 year ago
Reply to  Oracle

The Megalomaniac just handed Mr. Dress-up another 4 year mandate.

The grin on Trudeau’s face will be extra evident in his selfies!

southseacompany
southseacompany
1 year ago

“Housing market downturn harms budget prospects for B.C. NDP”, Vancouver Courier

https://www.vancourier.com/real-estate/column-housing-market-downturn-harms-budget-prospects-for-b-c-ndp-1.23409005

“The Real Estate Board of Greater Vancouver recently released statistics that showed a whopping 30 per cent decline in home sales in the region when comparing July 2018 sales figures to the ones in July 2017.”

“And the July sales figures of this year were down almost 15 per cent from June, which suggests sales are continuously declining. The slowdown is the biggest in 18 years”

Ralph
Ralph
1 year ago

If BC is this reliant on non-productive real estate for revenue generation then there is something seriously wrong in this province.

Simple Solution
Simple Solution
1 year ago
Reply to  Ralph

To be fair, BC also reliant on Casino (money laundering) revenue…

bullwhip29
bullwhip29
1 year ago
Reply to  Ralph

real estate is everything in Vanc and much of BC. a housing crash would immediately cast a huge shadow over many other industries that are either directly or indirectly related. developers would shelve projects due to poor market, finance co’s would batten down the hatches and the consumer would pull their horns in either as a result of the negative wealth effect or simply out of necessity. the only ones left standing would be service workers catering to whoever is still in the mood to visit our polluted beaches, breathe our toxic air and stand in agonising lines for the same overpriced flagship attractions that the whole world has been brainwashed into believing they must see before they die

MAKE TRUDEAU A DRAMA TEACHER AGAIN
MAKE TRUDEAU A DRAMA TEACHER AGAIN
1 year ago
Reply to  bullwhip29

At least people will be able to find a tradesperson for a fair price.

bullwhip29
bullwhip29
1 year ago

no one will be doing lipstick and mascara jobs as flipping will be largely out of the question nor will they be upgrading just for the sake of posting another superficial pic on instagram. yep, all of a sudden those slightly dated but otherwise perfectly functional appliances in that dreadful white finish dont look so bad after all.

MAKE TRUDEAU A DRAMA TEACHER AGAIN
MAKE TRUDEAU A DRAMA TEACHER AGAIN
1 year ago

A big blow to the Realtor Monolpoly

A battle over real estate data that has dragged on for years has come to a close, as a Supreme Court of Canada judgement this morning opened the door for realtors to expand the way they share home sales data on the Internet.

Stand up for Canada
Stand up for Canada
1 year ago
Best place on meth
Best place on meth
1 year ago

Mid month stats:

https://dexterrealty.com/current-market-conditions.html

MOI for West Van detached soars to around 30, Richmond to 20,

Doomcouver
Doomcouver
1 year ago

popcorn time

Oracle
Oracle
1 year ago
Reply to  Doomcouver

I want to see a crash. I’m sorry but the speculators need to be taken out for the count.

No popcorn for me yet.

Dave
1 year ago

The sales numbers this year are very bearish. The inventory is neutral. But, prices are surprisingly holding up well when you look through the data. Other than a few markets for SFH, prices have held up. Hopefully that’s not the case going forward, but it has to be troubling for bears.

Ralph
Ralph
1 year ago
Reply to  Dave

Prices will not hold up. There is too much inventory coming on-line and speculative demand has dissipated.

Dave
1 year ago
Reply to  Ralph

Maybe, but prices don’t lie either. And prices to this point have held up for the majority of the market, despite all the headwinds we’ve experienced this past year.

I lost out on a multiple bid scenario a couple months ago.

MAKE TRUDEAU A DRAMA TEACHER AGAIN
MAKE TRUDEAU A DRAMA TEACHER AGAIN
1 year ago
Reply to  Dave

How are you feeling about that today?