Expensive to buy, cheap to own

Having trouble saving up enough for a teardown house in a terrible neighborhood? Good news! Although its expensive to buy real estate in Vancouver, it’s one of the cheapest places for property taxes in Canada or the US.

The owner of a C$1 million ($770,000) home in the Pacific Coast city will pay just C$2,468 a year in property tax, compared with C$6,355 in Toronto or more than C$10,000 in Ottawa, according to a new study by real estate website Zoocasa that looked at rates in 25 major Canadian markets.

Read the full article here.

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[…] smaller retailers are packing up and leaving Vancouveras rents rise and some owners would prefer to leave retail units […]

bullwhip29
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bullwhip29

Smaller retailers lead exodus from Vancouver
‘Certain areas of Vancouver are hollowing out,’ says analyst
https://www.vancourier.com/news/smaller-retailers-lead-exodus-from-vancouver-1.23394940

Name
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Name

“Some landlords don’t want to lower [retail] rents because it reduces the value of their building,” he said. “They would rather leave [storefronts] empty.”

this does not make any sense to me. I’d rather have some cash flow income rather than no income vs. an inflated valuation on the asset and I’d think an empty building would be worth less than a rented one anyways.

Dave
Member

Who needs cash flow when you can speculate and flip? Do you know how much trouble a tenant can cause you? It’s like you’ve never been a landlord.

Name
Guest
Name

Ya I was thinking that when I was typing… speculator vs. investor/landlord.

bullwhip29
Guest
bullwhip29

much of robson is still like a strip mall. that won’t last for very long. in the not too distant future entire blocks will be plastered with FOR LEASE signs signalling that demolition is just around the corner. patient owners know they are sitting on gold mines worth many 10’s if not 100’s of millions of dollars each. the only question is when they will get to ring the cash register.

bullwhip29
Guest
bullwhip29

Three possible scenarios for Vancouver’s housing market
https://www.bcbusiness.ca/Three-possible-scenarios-for-Vancouvers-housing-market

Will Vancouver home prices tank, surge ever higher or settle somewhere in between? With help from disgruntled residents, global investors and government intervention, here’s how the city’s real estate future could play out, for better or worse…

Name
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Name

If interest rates keep rising my prediction is that prices will really tank. But it all depends on where interest rates go. The speculating and money laundering azians are gone and that’s another plus. Also the 20% FBT is helping somewhat. And the mortgage stress test. Too may things are lining up now to allow for the market to increase again.

bullwhip29
Guest
bullwhip29

regarding the FBT and foreign speculation, anything is possible, but yes the game will be over for some. imho horgan will be a one term premier. come election time i suspect things will be right where the Libs want them to be in terms of where the BC economy, real estate and a variety of other matters are concerned. fast forward 4-6 yrs and I see many british columbians (who currently think they are “winning”) laid out dead under a brand new red carpet which will be rolled out for the same cast of characters that got us into this mess in the first place.

bullwhip29
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bullwhip29

poloz and the BoC are so far behind the curve it isnt even funny. i predict he will soon hold off on future hikes as it becomes more clear the cdn economy (aside from min wage service industry workers catering to tourists) is headed into the crapper in a big way. all the chatter that everything in cda is firing on all cylinders is laughable. bottomline is that cdns are lugging around too much debt (epic, historic amts in fact) and have too much of their net worth tied up in RE. the industry is quite frankly too big too fail. any meaningful and sustained downturn in prices will cripple millions of folks in this country from both a financial liquidity perspective and also psychologically as the reverse wealth effect takes hold

Name
Guest
Name

I notice in quite a few SFH listings now that the real estate agents are stating in the descriptions that the house is priced “below assessment” and it’s a “great deal” for a “quick sale” or some such hyperbole.

Dave
Member

It would be interesting to develop a program that would scan real estate listings to track key words related to market sentiment and track that over time. I bet that would show up if the data was mined.

A year ago, the sentiment was that price appreciation would slow but that they never go down. That was a shift from the bull market and we’ve seen sentiment deteriorate every month of the past year. I’d say we’re in a very different space than we were a year ago, despite prices not being vastly different. That suggests to me that more pricing downside is coming because sentiment should be a leading indicator.

Make Vancouver Canadian Again
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Make Vancouver Canadian Again
I once took a university course on Canadian Cities. The instructor who was teaching it had just arrived in Canada and knew very little about Canadian cities, or Canada in general. A great deal of his lectures were actually about American cities. Coming from the UK, this guy thought it was totally okay to use American cities as a proxy for Canadian cities to make up for his lack of knowledge of Canada. I remember one day he remarked that Vancouver is far more racist than he imagined it was before he got here. He said sometimes you hear someone say something so racist that it just takes you aback and causes you to shake your head. When he said that, I knew he would never be able to get through an afternoon at my parents house! Some guy who… Read more »
Oracle
Guest
Oracle

One thing you guys have to get used to is this region of the world will become less and less white. If you overcome and accept this, then you can focus on housing prices etc.

Every culture has their issues. Some more than others. And not everyone likes certain cultures. Hence the ethnic ghettos all over the lower mainland.

But one thing is for sure. Whites will be a small minority in the future. Accept that. And move on.

Oracle
Guest
Oracle

And foreign countries want to be sovereign states and want to have enforceable borders.

Your leader has stated already that Canada is a post nation state meaning porous borders. You’d be kidding yourself if you thought the new breed of immigrant had any allegiance to Canada. There simply isn’t a country without enforceable borders.

Make Vancouver Canadian Again
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Make Vancouver Canadian Again
Random thoughts come back to me at this stage in my life. That article about how homeownership is dependent on whether or not your parents were homeowners — I was on to that a decade plus ago. I told my university professor that I wanted to do a research project on the topic. He discouraged me and said that that research had already been done decades ago. So I moved onto a different idea. I think that research would have been very timely a decade ago in Vancouver and even if similar research was done elsewhere in the 70s, 21st century Vancouver is a different animal compared to conventional understandings of Western cities. That was a socialist professor who was trying to steer me away from asking uncomfortable questions. And I went along because I had no idea at the… Read more »
Make Vancouver Canadian Again
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Make Vancouver Canadian Again
There is an article in the Vancouver Star (please change the name of that paper! I feel like I am reading a Toronto paper every time I see it) entitled “Home ownership depends on parentage thanks to baby boomer wealth, says economist.” The article is absolutely correct. I have argued about this so many times over the years. What happens to someone who is really smart and talented but their parents were losers who never owned real estate and drank themselves silly? What happens if said person is white and male and therefore does not qualify for public sympathy or support? This is how you create an underclass. Unlike the American ghetto underclass, the underclass of renters being created in Vancouver are actually quite smart and intelligent. We’re the ones who could turn this economy around, if given the chance,… Read more »
Dave
Member

This is a very real thing. It’s not just job opportunities, it’s the next step like creating businesses. If you’re given the silver spoon of home ownership in Vancouver, you have a huge leg up on somebody else.

If it makes you feel better, I notice that some of those silver spooners start to fail later in life. The lack of understanding of how they achieved their ‘success’ catches up in time. I see this sort of thing with a lot of the younger baby boomers.

Ves
Guest
Ves

Dave,

If you observe deeper their “fail in life” (although nothing is “fail” but an opportunity”) is NOT for lack of understanding how to achieve something but because of simple lack of realisation that nothing is fulfilling. Rich person does not realise that after buying their 5th Ferrari is just a way to intoxicate yourself. It unpardonable.

Dave
Member

My observation was more around capability. I have noticed that some of these people don’t really advance far and part of the reason is they aren’t capable because they never had to build that skillset.

That’s not to take away from you point, which I think also true of some people.

Make Vancouver Canadian Again
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Make Vancouver Canadian Again

What I am talking about here really is missed opportunity cost or misallocation of investment. People usually think about those in terms of economics–BC has a form of Dutch disease (liberal use of that word) as a result of overinvestment in real estate and underinvestment in productive economic sectors. But it also has a very human component: All the people who never got a chance to develop skills and develop work experience has a personal, psychological, social, and economic impact that I really think the baby boomers do not appreciate.

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again
I just want to chime in and say that of course I think it is absolutely deplorable that John A MacDonald statue in Victoria is coming down. He’s already been removed from the $10 bill. This has nothing to do with Canada or local issues. This is importing US divisive politics into Canada. The removal of historic statues started in the US, now its moved to Canada. The drive to get a woman on their currency started in the US, so Canada had to follow in lock step. It’s like the US left/Democrats set the agenda for Canada. NEWSFLASH: Canadian currency has had a woman on it for the past 50+ years. Her name is Queen Elizabeth II. There was never any absence of women on Canadian money like there was in the US so it should have been a… Read more »
KickThemOut
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KickThemOut
Best place on meth
Member
Best place on meth

Seize everything from all locusts and deport them.

Oracle
Guest
Oracle

They’ve got Permanent Status or easy to get citizenship.

Why not focus on your politicians that make policy?

KickThemOut
Member
KickThemOut

The “strike” on the HNA building, which is located between East 51st and 52nd streets, has been in the works for months according to the Post and “is believed to be the first move by the Trump White House since Congress on Aug. 1 approved expanded authority of CFIUS — the Committee on Foreign Investors in the United States.”

“This is coming from the White House,” said a source said of the seizure that could ultimately force the sale of HNA’s stake in the 575,000-square-foot building. As a reminder, as part of the CFIUS expansion, it now has purview over foreign real estate interests.

KickThemOut
Member
KickThemOut

In what would mark an abrupt and serious escalation of the US-China trade and currency war – if true – is a report from the NY Post according to which the Trump administration, as part of a crackdown on certain US investments made by Chinese companies, is set to seize a majority stake in 850 Third Ave. The stake is owned by HNA, the reeling, quasi-insolvent Chinese conglomerate whose Chairman died in a freak accident in Italy one month ago, and its US partner in the building is desperate to save it.

Get real
Guest
Get real

Vancouver homeowners have the lowest mortgage delinquency rate in Canada.

https://biv.com/article/2018/08/vancouver-mortgage-defaults-plunge-home-prices-increase

KickThemOut
Member
KickThemOut

Don’t you know? That just proves Vancouver will have the mother of all RE bear markets?! According to the brilliant bears on this website who have been outpacing homeowners the last decade by renting.

oopswediditagain
Guest
oopswediditagain

http://www.macleans.ca/opinion/why-a-low-delinquency-rate-isnt-the-good-news-real-estate-story-you-think/

“Indeed, the delinquency rate on mortgages in the U.S. reached its lowest level in decades in 2005, precisely when the U.S. housing bubble was at its frothiest and money was easy to borrow. Likewise, mortgage arrears in Ontario just reached their lowest level since 1990, the year Toronto’s last housing bubble popped. In that real estate crash, prices fell close to 40 per cent and took until 2010 to fully recover, after adjusting for inflation.”

Get real
Guest
Get real

That article you cite is over one year old. We are already one year after the price peak. No crash yet. Houses still super expensive.

oopswediditagain
Guest
oopswediditagain

A little patience, my friend. It took more than a year back in 1981 -82 for the full effects of the “crash” to be realized. 15% is a pretty good start, I think.

http://vancitycondoguide.com/vancouver-detached-prices-july/

“This is beginning to reflect in the data and although sales mix can distort both average and median sales prices from month to month, the trend is clear. In July, the average sales price declined 16% year-over-year. The median sales price slipped 3% year-over-year. It’s worth noting the median sales price in May registered a 12% decline year- over-year, so you can see how average and median can fluctuate rather drastically. Overall, it’s a safe bet to suggest the typical home is off about 15% from the peak.”

Name
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Name

Their point is still valid a year later.
And houses are not as expense as a year ago. and prices are still dropping.

Name
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Name

This article does not fit with KickThemOut’s narrative so he will discount it as fake news.

KickThemOut
Member
KickThemOut
Best place on meth
Member
Best place on meth

They’re vermin, not hyenas.

Don’t insult hyenas.

KickThemOut
Member
KickThemOut

Meanwhile, as official media has in recent days been filled with defiant commentary regarding the United States and the trade war, there have been signs of a shift in China’s messaging, demonstrated mainly by Beijing’s downplaying of Made in China 2025, the state-backed industrial policy that is core to Washington’s complaints about the country’s technological ambitions.

KickThemOut
Member
KickThemOut

Hu Angang, an economics professor at Tsinghua University and an expert in the field of “Chinese exceptionalism”, is one prominent advocate for the view that China has achieved “comprehensive national power”. However, as the Chinese stock market has tumbled in recent weeks, Hu has faced a public backlash, with critics blaming him for making the United States wary of China by trumpeting and exaggerating its relative economic, technical and military might.

KickThemOut
Member
KickThemOut

“Many economists and intellectuals are upset about China’s trade war policies,” an academic at a Chinese policy think tank told Reuters, speaking on condition of anonymity due to the sensitivity of the issue. “The overarching view is that China’s current stance has been too hard-line and the leadership has clearly misjudged the situation.”

KickThemOut
Member
KickThemOut

Naturally, China did not respond to a Reuters request for comment on Wang and his relationship with Xi, or on whether China had erred in its messaging in the trade war. But, in a stark confirmation that the ongoing trade war with the US is taking its toll, there is a growing feeling within the Chinese government that the outlook for China has “become grim”, according to a government policy advisor, following the deterioration in relations between China and the United States over trade.

KickThemOut
Member
KickThemOut

While China’s President Xi still retains his undisputed grip on power, some have noted an unusual surge of criticism about economic policy and how the government has handled the trade war, revealing “rare cracks in the ruling Communist Party.” Specifically, Reuters notes that the backlash is being felt at the highest levels of the government, hitting a close aide to Xi, his ideology chief and strategist Wang Huning.

KickThemOut
Member
KickThemOut

Over the weekend, Trump claimed on Twitter that the US is winning the trade war with China for one simple reason: whereas US stocks are back to all time highs, the Chinese market has tumbled and remains mired in a bear market. Now, another – less naive – indication has emerged suggesting that the US is indeed getting the upper hand in the ongoing trade feud: according to Reuters, the trade war with the United States is “causing rifts” within China’s Communist Party, with some critics saying that China’s overly nationalistic stance “may have hardened the U.S. position.”

Name
Guest
Name

You want reconciliation? Rename Vancouver, says local historian

https://www.news1130.com/2018/08/08/reconciliation-vancouver-name/

“If we want real reconciliation he says cities like Vancouver should be looking at bigger gestures, like perhaps one day renaming the City of Vancouver.”

oh boy, here we go. This movement is picking up momentum now and in a few years this renaming everything by SJWs to pander to the natives will be in full force. I can tell you that with 5 years Stanley Park will have a new native name.

Best place on meth
Member
Best place on meth

In that case, I don’t want reconciliation.

I wan’t everyone to stop whining about past injustices that did not involve them or anyone else alive today.

Some white people did bad things to your great, great grandfather?

Too bad, not my problem. Shut up, I’m not the least bit interested.

And stop passing your never ending sense of victimhood down to your children, idiots!

Selective Memory
Guest
Selective Memory

A large fraction of first nations people alive today went through the residential schools. The last one only closed in 1996. And now you want to blame the victims because the cultural genocide worked so well?

KickThemOut
Member
KickThemOut

Seems like you are bitching everyday about the injustice of you forever being a basement dweller.

Best place on meth
Member
Best place on meth

Space, are any of your fellow locusts still plotting to steal tax dollars from me and my fellow Canadians over that head tax that had zero effect on them?

If so, they can suck my dick.

KickThemOut
Member
KickThemOut

The only way you can possibly get your dick imaginarily sucked? And who is this Space you are talking about? The part between your ears maybe?

Oracle
Guest
Oracle

That is the comment if the day!

bullwhip29
Guest
bullwhip29

Firefighters on drought-stricken Vancouver Island are still scratching their heads over some floating Chinese paper balloon lanterns with an open flame on the inside that were released last week
https://www.cbc.ca/news/canada/british-columbia/it-s-a-big-no-no-floating-lanterns-released-during-vancouver-island-drought-1.4778131

>>> I guess anything goes when trying to get that all important selfie…and like who gives a flying f&*k where it lands and if someone else’s property burns to the ground

Oracle
Guest
Oracle

The culture has self-centered individuals. Everything is about me me me and not about those around them.

paulb
Member

New
217
Price Change
72
Sold
115
TI:12764

http://www.clivestevepaul.com

Shadow Inventory
Guest
Shadow Inventory

Diff. in Inventory = 12764- 12736 = 36
New-Sold = 217 – 115 = 112
The Shadow Inventory increased by 76 today.

Screwed
Guest
Screwed

Wtf??

Oracle
Guest
Oracle

Yeah I hear you. Should be at 14,000 now. Just wait a few more weeks. Probably get a 15K party!

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

What’s wrong now?

Screwed
Guest
Screwed

“Sold” a picking up

Dave
Member

Anything’s in the 100’s is still a low number for this time of year.

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

Stop torturing yourself by trying to make sense of each and every day’s numbers – use Zolo instead.

BubbleTea
Guest
BubbleTea

“All 16,000 Saudi students are ordered to leave Canada immediately.”
Looks like there are going to be a lot of Vacancy in Vancouver very soon.

patriotz
Member

A quick search shows 280 Saudi students at UBC, which is the biggest university in the province.

BubbleTea
Guest
BubbleTea

Heres the link to the article. 15,000 Saudis study in Canada on scholarships and accompanying family members bring the number to 20,000 or more.
https://www.theglobeandmail.com/canada/article-saudi-arabia-to-withdraw-all-saudi-students-studying-at-canadian/

Name
Guest
Name

John A. MacDonald statue ‘painful reminder’ of colonialism: Victoria, B.C. mayor

https://www.news1130.com/2018/08/08/john-a-macdonald-statue-painful-reminder-of-colonialism-victoria-b-c-mayor/

“Mayor Lisa Helps says the statue will be taken down so that Indigenous people do not need to walk past the “painful reminder of colonial violence.”

how thoughtful of her (sarcasm)
maybe she should rename the city of Victoria to “Salish City” or some such thing ….

Best place on meth
Member
Best place on meth

That means British Columbia will have to be renamed, as well as Vancouver, Prince George, Prince Rupert, Regina, pretty much every street, river, lake, mountain in the country.

It would be much easier to put all the SJW’s into a giant sack and drown them like kittens.

Oracle
Guest
Oracle

This land will belong to people from all over the world soon. My only concern is what happens when Asians get the majority? Based on the past, it doesn’t bode well for the white people.

Name
Guest
Name

It doesn’t bode well for you either.

Oracle
Guest
Oracle

Our family already has feet in two countries. Shit hits the fan here and I just go overseas…have a mansion by Vancouver standards on several acres.

Betcha you didn’t think that.

Name
Guest
Name

Then you should leave now.

Oracle
Guest
Oracle

Use it as a yearly vacation home. Betch you didn’t know that?

Name
Guest
Name

PG city council already renamed Fort George Park to some unpronounceable native name. And they forced it through with any refererendum or consultation with the voters.

KickThemOut
Member
KickThemOut

unpronounceable only to you

patriotz
Member

“And they forced it through with any refererendum”

City councils are elected to make decisions. They are not required to have a referendum on anything except borrowing for capital projects. If the voters of PG don’t like the decision they can elect a different council in October.

kabloona
Member
kabloona

What an idiot….

Get real
Guest
Get real

They should also remove the statue of empress Victoria which is the ultimate symbol of British colonialism. They should also force the Empress hotel to change its name. And no city should be named after a colonial symbol like queen Victoria

Lost...but not Leased
Guest
Lost...but not Leased

Yep…here we go…fasten yer seatbelts..

SJW-LibTards on the loose..

This is what is going on in the US..especially the South..history is being purged.
Right or wrong…its part of history. Where do we draw the line…

This is NOTHING more than a communist tactic…right out of the playbook to detach people from culture and their roots. First Nation ass kissing is just an excuse…

Victoria Mayor is up for re-election…

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

Pathetic

bullwhip29
Guest
bullwhip29

The B.C. Securities Commission has ordered Metro Vancouver businessman Paul Se Hui Oei to pay millions in penalties for promoting his political connections to investors before regulators alleged he committed dozens of acts of fraud
https://vancouversun.com/news/local-news/high-profile-b-c-businessman-paul-oei-ordered-to-pay-millions-in-penalties

>>> blah, blah, blah….

Best place on meth
Member
Best place on meth

“Before Oei’s sanctioning by regulators, he was a prominent figure in Metro Vancouver, mentioned in both the New York Times and The New Yorker magazine in 2016 stories about wealthy Chinese elites in Vancouver, or “fuerdai,” a term the Times described as “a Mandarin expression, akin to trust-fund kids, that means ‘rich second generation.’”

“For fuerdai seeking to establish themselves in Vancouver,” The New Yorker reported in 2016, “(Oei) is the go-to fixer and an unofficial ambassador.”

So he’s responsible for Vancouver becoming infested with these vermin.

The guy deserves to be put in front of a firing squad. Is he even in jail?

KickThemOut
Member
KickThemOut

Maybe you first.

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

Was he wearing an ostrich jacket?

kabloona
Member
kabloona

Ha-Ha!

😀

bullwhip29
Guest
bullwhip29

WSJ: The Money Laundering Hub On the U.S. Border? It’s Canada
Strict privacy laws, a reluctance among banks to report suspicious activity and weak regulators contribute to low number of convictions
https://www.wsj.com/articles/canada-comes-under-fire-for-money-laundering-lapses-1533729600

bullwhip29
Guest
bullwhip29

admin not allowing me to post rest of article.

if you google headline and click on link you should be able to get around paywall once or you could print to pdf

bullwhip29
Guest
bullwhip29

The Royal Canadian Mounted Police estimated in 2011, the latest year for which data is available, that between 5 billion and 15 billion Canadian dollars ($3.8 billion to $11.5 billion) is laundered in the country every year.

Canada has five of the world’s largest 60 banks and is an increasing destination for global capital. So what happens within the country has effects beyond its borders, according to anti-money-laundering specialists and regulators.

Yet critics say the country isn’t doing enough to clamp down.

bullwhip29
Guest
bullwhip29

When British Columbia’s attorney general, David Eby, was briefed by law-enforcement officials last year on alleged money laundering in his province, the scale of activity described to him “blew my mind,” Mr. Eby said.

Mr. Eby said he was embarrassed to learn that Australian authorities had even dubbed a common tactic among Chinese gangs, in which illicit money is processed through casinos, as “the Vancouver method.”

Canada’s financial-intelligence agency, the Financial Transactions and Reports Analysis Centre of Canada, or Fintrac, said in a recent report to lawmakers that more than two-thirds of Canadian banks it examined had “significant levels” of noncompliance with anti-money-laundering rules, according to a copy reviewed by The Wall Street Journal.

bullwhip29
Guest
bullwhip29

By Alistair MacDonald, Paul Vieira and Vipal Monga
Aug. 8, 2018 8:00 a.m. ET
After a Vancouver-based real-estate agent wired almost $240,000 from Canada’s Bank of Montreal to an account in Boston last year, U.S. authorities swooped in.

They arrested Omid Mashinchi and in January charged him with laundering drug money. Mr. Mashinchi pleaded guilty to the charges in late July in federal court in Massachusetts.

The case is one of several recently in which the U.S. has moved on suspicious transactions involving Canadian financial firms or citizens, and comes as Canada’s record of clamping down on money laundering is under fire at home and abroad.

KickThemOut
Member
KickThemOut

@Oracle – what happened to that big house you were building with your cousins in Surrey to house the rest of your cousins and their sex slaves?

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

I’m interested as well

Oracle
Guest
Oracle

Another racist…

Lost...but not Leased
Guest
Lost...but not Leased

SIDA is entering a phone booth as we speak..
……..but Clark Kent was there first !!!

KickThemOut
Member
KickThemOut

I guess China still hasn’t learned how international trade works and how normal civilized countries resolve a dispute.

https://ca.finance.yahoo.com/news/china-slap-additional-tariffs-16-123917642.html

Name
Guest
Name

“A Minute with Bill Good” today he’s complaining about the NDP FBT never mentioning that it was his beloved BC Liberals who introduced that tax. He also basically said you can’t keep this market down with a few misdirected taxes and that we need more supply. Then he went on to pump Capital Direct mortgages.

Scorn on Bill Good from me. I really can’t stand that opportunist.

Dave
Member

Sounds like he thinks the tax is working.

Name
Guest
Name

But he doesn’t think it will keep working ….

Dave
Member

It’s sort of a contrary opinion.

Obviously supply is part of the answer. It doesn’t follow that you shouldn’t act on the flood of foreign money coming in. Apples and oranges.

patriotz
Member

“It’s sort of a contrary opinion. ”

More to the point, it’s the position of the RE industry and the BC Liberal Party.

Name
Guest
Name

ARKADELPHIA, Ark. – A Chinese company’s announcement two years ago that it would spend more than $1 billion and hire hundreds of workers for a paper mill on the outskirts of this rural college town was seen as a much-needed shot in the arm for the region’s economy.

https://www.news1130.com/2018/08/08/as-trade-battle-rages-an-arkansas-town-waits-and-worries/

more empty promises by chineeze “investors”.

Best place on meth
Member
Best place on meth

Never trust the chinese. The will lie as much as necessary in order to infiltrate or steal.

Same goes for their immigration applications, riddled with lies and fraudulent documentation

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

Never trust an unemployable racist.

Lost...but not Leased
Guest
Lost...but not Leased

Sino- based promises are good as gold…..there is no controversy here.

PS: Dont count your pumpkins until they ripen past then yellow phase.

Name
Guest
Name

More pumping by Royal LePage

https://www.news1130.com/2018/08/08/boomers-real-estate/

“Boomers don’t want to move but smaller cities and recreational areas will attract more boomer investment than major cities”.
So, isn’t this contradictory?

“many boomers in this province are banking on real estate to fund their retirement.”

Summary:
Boomers kids live at home until 35 years old.
Boomers don’t want to move from the family home.
Boomers are banking on real estate to fund their retirement.
Boomers want to move to smaller cities and recreational areas.

this makes perfect (non)sense to me…

Lost...but not Leased
Guest
Lost...but not Leased

This recreational property mantra is old as dinosaur shite……..Ive noticed this with every boom cycle.

THE TRUTH is people buy that cabin…enjoy it for a few months..then winter hits hard.
Ultimately…as they get older..they realize they are uncomfortably far from required services, and SELL.

bullwhip29
Guest
bullwhip29

RE cartel selects a specific category or region to pump when things are generally quiet. they do it because it works

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

It’s not contradictory. Many don’t want to move but some will have no choice. And where there is demand from them (not all are opposed to moving) it won’t be in areas with higher prices.

What’s so difficult to understand?

Oracle
Guest
Oracle

When one senior member of a couple dies, that’s when the fun starts.

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

Oracle you really are a loser.

I have a ton of Indian friends and personally don’t fear becoming a minority in Vancouver.

That said, you are nothing like them.

KickThemOut
Member
KickThemOut

One or two Indians who you have to pay $$$ to spend 30 minutes with doesn’t count as friends or a ton.

Best place on meth
Member
Best place on meth

Probably because he’s not Indian.

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again
There is an article right now by Eric Grenier on CBC about Jagmeet Singh about to announce he is running for a seat in Burnaby South. Some observations: -the first article I read on CBC said running in Burnaby South would put him in the centre of the pipeline dispute even though that is in Burnaby North. I don’t think it even mentioned housing, or if it did, barely. -This article now is also hyping up pipeline politics in Burnaby, although it is admitting that that is in a neighbouring riding -This article mentions nothing about housing -I read an article the other day about Jagmeet Singh in Burnaby South and it listed the issues of concern in the riding and housing was at the bottom of the list, pipeline at the top. -The biggest issue in Burnaby South is… Read more »
CRA221
Guest
CRA221

I’m predicting a conservative win. NDP is low in the polls nationally and have done pathetically poor in the last few by-elections. Singh as a party leader will get a bit of a boost but will split with Lib supporters allowing the Cons to come up the middle.

If Singh loses he’s done.

Fun Fact: His full legal name is “Jagmeet Singh Jimmy Dhaliwal”

patriotz
Member

” Singh as a party leader will get a bit of a boost but will split with Lib supporters allowing the Cons to come up the middle.”

The vote was split last time with the NDP only 547 votes ahead of the Liberals. The Conservatives were over 3,000 votes behind the Liberals and would have to increase their own vote count substantially to win. I don’t think they will.

patriotz
Member

” I don’t think it even mentioned housing”

The housing issues in Burnaby are within city and provincial jurisdiction and Singh isn’t going to say much, particularly as he’s from Toronto. I wouldn’t be surprised if Horgan asked him to keep his nose out of it. Don’t expect the federal Liberals or Conservatives to say much either.

Dave
Member

Furthermore, immigration and interest rates are Federal jurisdiction, the two biggest issues that created our housing crisis.

I’m also surprised you would say this given all your past comments on the CMHC, which you have more or less described as a housing bubble enabler.

patriotz
Member

“I’m also surprised you would say this given all your past comments on the CMHC”

I said “issues”, i.e. items that get raised by political parties taking differing positions.They all have essentially the same position on immigration. I know that Conservatives are talking about a hard line on refugees, but that’s part of a a strategy for attracting the mainstream immigrant vote (particularly the Chinese who hate blacks and Muslims). CMHC isn’t an issue either because all the parties have essentially the same position. As for interest rates, the BoC is supposed to be politically independent and even the NDP isn’t going to try to mess with it.

kabloona
Member
kabloona

CMHC is the real Federal elephant in the room….

Yet it doesn’t even get debated in Parliament…. 🙁

Dave
Member

Jurisdiction only matters to the extent that voters know this or care.

In other words, if housing is an issue to voters in the riding, it’s going to be an issue in the election, meaning it’s going to be an issue.

kabloona
Member
kabloona

In case anyone hasn’t seen, this is a good article about JS potentially running in Burnaby South….

“NDP Leader Jagmeet Singh’s political career may be on the line in Burnaby South”

https://www.straight.com/news/1112746/ndp-leader-jagmeet-singhs-political-career-may-be-line-burnaby-south

patriotz
Member

Singh on housing:

“At the federal level, there’s a responsibility to partner with the city to make sure we invest in housing and do something. We’ve got the province and the city now stepping up. We need the federal government to step up, and that’s the big gap that’s missing here… If it’s a housing crisis, that means we need funding immediately. We need a holistic solution. ”

https://www.burnabynow.com/news/meet-jagmeet-singh-ndp-leader-talks-trans-mountain-housing-following-burnaby-campaign-announcement-1.23394473

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again
That article is bang on! I just don’t see how Singh can win with that minefield in Burnaby South. When I started reading and I saw the name Adam Pankratz, I was like, oh him. I know nothing about him or even what he looks like but he definitely has name recognition because I remember seeing his signs all over Burnaby during the last election. Pankratz is so going to win that riding. He has name recognition and a local base of support/campaigners by the sound of it. Absolutely, this will be portrayed as a two way race between Liberal and Conservative in these polarizing times. Normally, polarization would favour NDP, but not anymore since the NDP conceded the left to the Liberals, who under Trudeau, have taken up the left wing cause with renewed vigour unlike anything the NDP… Read more »
Dave
Member

Normally, a riding would typically want a party leader to represent their riding because it gives you a greater voice. In Singh’s case, I think it’s actually going to be the opposite of that. People will vote against him because they won’t want him speaking on their behalf. Watch the Conservative and Leader votes shift to whomever is leading in the final week of the two parties for that reason.

I used to be involved politically in Burnaby. There is a lot of cross-over between federal Liberals and Conservatives. When there is a Provincial election, they all work together for the BC Liberals and then go their separate ways for the Federal election.

kabloona
Member
kabloona

I dunno….I’ve seen a few “Party Leaders” knocked outta the box by so-called “giant killers” when the voters decided it was in their better interest to elect someone on the “winning side”….

🙂

Dave
Member

The NDP have never been on the winning side Federally, nor will they ever be.

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again
Oh come off it, Patriotz. Now you’re playing the old: It’s-not-that-level-of-govt’s-jursidiction-as-per-Constitution game. Politicians have been playing that game re the housing file in Vancouver for decades. I’ve heard the City say their options are limited without more from Provincial and federal levels. I’ve heard the Province sqauwk about the role of the federal government. I mean, Eby had a lot to say to the feds just a few months ago about money laundering, which is related to the housing crisis. There are all sorts of things the federal government could do, if they cared. It’s called Fiscal Federalism. Well-known Canadian housing scholar from the mid-20th century Albert Rose always emphasized the role of all 3 levels of government coming together in order to deliver affordable housing. His insights continue to tower over the work of contemporary affordable housing research done… Read more »
Doomcouver
Member
Doomcouver

Singh has no electability. The turban is a non-starter for most Canadians. I won’t vote for him because of his push to allow Sikh’s to ride motorcycles without helmets:
https://www.bramptonguardian.com/news-story/6727185-mpp-singh-asks-ontario-government-to-exempt-sikhs-from-motorcycle-helmet-law/
He obviously thinks Sikh’s are a special class, and worthy of more rights than average Canadians. Don’t vote for this clown.

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

I’m sure “most Canadians” aren’t intolerant pricks.

patriotz
Member

“I’m sure “most Canadians” aren’t intolerant pricks.”

There’s more to it than that, Singh has said publicly that he wears his style of turban as a political statement:

““Then I thought I would do it intentionally because if in parliament, if you see a round turban, if in parliament you can see flowing beard then you can show Indian government that ’look we are there,’ ” he said to applause.”

https://www.theglobeandmail.com/politics/article-jagmeet-singh-attended-sikh-separatist-rally-in-2015/

Best place on meth
Member
Best place on meth

Oh great, just what Canada needs.

A politician who brings their squabbles from the old country to our shores.

kabloona
Member
kabloona

I was stunned to see helmet-less Sikhs on sport-bikes riding around the streets of Surrey wearing just a turban on their head….

😀

Doomcouver
Member
Doomcouver

Don’t worry, I’m sure ICBC is charging them more insurance for the higher medical bills they’ll have if they get injured. What’s that? They pay the same insurance as everyone else?……. well damn………..

kabloona
Member
kabloona

Anybody of any ethnic persuasion who chooses to ride a motorcycle without wearing an approved helmet is a MORON….

I’m lookin’ at you, Tom Cruise….

😉

Name
Guest
Name

“Singh has no electability. The turban is a non-starter for most Canadians.”

Agreed. South Burnaby voters are of the wrong demographic to identify with this guy or vote for a Sikh candidate.

bullwhip29
Guest
bullwhip29

this is clearly all about the pipeline not race. at the end of the day this all equates to a vicious cage match with trudeau, who ultimately comes up short imho. who knows, that Caucasian pretty boy thing trudeau had going for him last time around might actually wind up being a negative when everyone goes back to the polls

ItsFingRediculous
Guest
ItsFingRediculous

Yeah lower property taxes at the expense of higher income tax and higher sale taxes. The root cause of housing problem is lower property taxes in metro Vancouver area. Cheap to park money for speculation. No need to downsize even if someone lives in a multi million dollar home and on welfare and other subsidies from govt. It’s time to drastically change the way we are taxed in BC, higher property taxes and lower income tax and sales tax

Dave
Member

The whole tax system needs to be revisited. It’s far too complicated, especially for businesses.

We need to decrease income taxes and business taxes and increase property taxes and sales taxes in my opinion. We shouldn’t be taxing wealth generation and productivity, but rather, we should be taxing consumption. We want to encourage more people to work.

While holding costs of real estate should go up somewhat, I think the other taxes like PTT should be removed. We don’t want people buying homes and borrowing money for 25 years to pay a tax. That’s insane.