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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Just me
Guest
Just me

Great topic. Totally true. However, I would like to bring back a link posted in the previous thread:

https://www.news1130.com/2018/08/06/new-federal-probe-opens-on-p-e-i-immigrants-alleged-to-have-used-fake-addresses/

“Under the P.E.I. program, the applicants provide the Island government with a $200,000 refundable deposit, and commit to invest $150,000 and manage a firm.

After the deal is signed, the province nominates the investor to the federal Immigration Department as a permanent resident, which they usually receive in the mail before they fulfil the conditions of setting up a business and living on the Island.”

Just me
Guest
Just me

“The province has already acknowledged that two-thirds of the PNP businesses in 2016-17, a total of 177 people, didn’t get the refundable deposit back, with the majority simply never opening a business.

The June search warrant alleges that the 462 people giving the three Charlottetown addresses are “well beyond what would be expected for single dwelling homes,” and says the use of the addresses is “concerning and unreasonable.”

Just me
Guest
Just me

“[Hicks] says the immigrants’ statements that they intend to reside in Prince Edward Island are “the whole basis for their approval,” and notes that the province’s website and forms repeatedly state this requirement and expectation.

The issue of false addresses has been arising in other provinces, say immigration lawyers.”

Last year, Chinese immigrants in Vancouver were sentenced to jail and fined for immigration fraud involving 1,600 immigrants for fraudulently helping them obtain permanent residency by measures that “included creating the fictitious appearance of Canadian residency.”

Just me
Guest
Just me

“Kane said immigrants who wouldn’t be able to gain access through other provincial or federal immigration programs with higher standards are finding their way in through P.E.I.

“What you’re seeing is a gateway into the province (P.E.I.) to secure permanent residence,” she said.

She said P.E.I. and Ottawa should end the practice of allowing permanent residency before demonstrating participants in provincial programs are complying with their conditions.”

Kane said a system that grants work permit visas and ensures immigrants comply with the conditions before gaining permanent residency would be preferable.”

backwardsevolution
Guest
backwardsevolution

Just me – what a scam, and a big cash grab for the government of P.E.I. These people have no intention of living there, no intention of opening up a business. P.E.I. keeps the money and sloughs off the problem on someone else. It’s like welfare for P.E.I.

Every single one of these scammers should be sent back on the next boat – every single one. The two hoteliers should be stripped of their citizenship, if they have any, and sent back too. Get rid of them.

Best place on meth
Member
Best place on meth

With the cheapest holding costs in North America, it’s a great time to launder money!

Just me
Guest
Just me

Yup. Vancouver provides the cheapest safe deposit boxes to hide your loot. No questions asked. As Christy Clark used to say, it is good for the economy.

Name
Guest
Name

and yet the multi-millionaire westside property owners won’t fork out another .04% school tax on their property…

backwardsevolution
Guest
backwardsevolution

Name – property taxes should really have risen at the same rate as house prices did. If they had, people would have been screaming about high house prices. They’ve got the best of both worlds – high house prices and cheap taxes. That won’t last.

Dyugle
Guest
Dyugle

Only Tax domicile residents should get the residential tax rate. I would like to see business taxes for all other properties.

patriotz
Member

“Only Tax domicile residents should get the residential tax rate”

Any foreign owned properties not rented out long term will be subject to the 2% spec tax. Also satellite families, although it remains to be seen just how that will work.

But they are not the real problem. The real problem is local owners who are encouraged to own speculative properties (which includes properties they live in but are a lot bigger than they need) by the low tax rate and tax deferral.

Dyugle
Guest
Dyugle
I do not care too much about local tax paying residents who live in and contribute to the community owning one house and getting a subsidized incentive to do so. The assessment act assumes all residential real estate is owned in this manner. This may have been correct when the assessment act was first brought into existence. Now however this is becoming the exception as other uses are pushing out this type of ownership. Residential real estate could be classed in 6 ways: 1 the tax domicile principal residence, 2 the investment property, 3 the rental property, 4 the vacation property, 5 the satellite family property, and 6 the satellite student property. Having these distinct classes would give cities many avenues to tailor their taxes to best serve the community. as well as make the local elections much more meaningful.… Read more »
ItsFingRediculous
Guest
ItsFingRediculous

Essentially people are subsidizing these money launderers, speculative buyers, and others including retirees who are holding multi million dollar homes with insane income taxes and sales taxes.

KickThemOut
Member
KickThemOut

1.6 billion locust, can Mother Earth survive for long?
https://youtu.be/PheVX8kriKU

Best place on meth
Member
Best place on meth

The New York Times’ new employee sure eats a lot.

Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

Well that was one way to get the Admin to start a new thread!

Best place on meth
Member
Best place on meth

Saudi Arabia withdrawing students from Canadian schools, suspending flights

https://www.theglobeandmail.com/canada/article-saudi-arabia-to-withdraw-all-saudi-students-studying-at-canadian/

Oops! There go some of whoreacle’s million foreign students.

Oracle
Guest
Oracle

You guys will end up paying. You can’t take a visa away without a huge lawsuit. Want to bet on that?

Oracle
Guest
Oracle

My bad. It’s SA that’s bringing its students back!! Hahahaha

Canada needs them hahaha.

backwardsevolution
Guest
backwardsevolution

Oracle – couldn’t happen fast enough. Maybe Saudi Arabia could recall all its extremist imams too? Gee, pretty please. And then, to really punish foreigners, they could also stop their practice of funding mosques all over the world?

xhistory
Guest
xhistory

These thing with House of Saud pushing back against uppity foreign based nationals and other assorted social justice warriors.. is part of a fractal I’m working on… I might share it Here, help the clutch and grab data needs.

Best place on meth
Member
Best place on meth

Vancouver real estate just had one of the worst months in recent times. Real Estate Board of Greater Vancouver (REBGV) show July sales haven’t been this low in almost two decades. To further complicate the issue, inventory is swelling back to normal levels. The combination of lower sales and higher inventory typically bring prices lower. Yes, even in Vancouver.

https://betterdwelling.com/city/vancouver/vancouver-real-estate-sales-hit-18-year-low-prices-see-slowest-growth-since-2015/

Oracle
Guest
Oracle

You do realize the folks there actively lobby the government against housing policy actions, right? That’s why all the doom and gloom from them…just like GT.

xhistory
Guest
xhistory

https://betterdwelling.com/about/

BD is a black op funded by Soros designed to sharpen people’s intuition… internet is heavily populated with these pasty web sites.
Anyway, can you tell me who authored that last piece?

Dave
Member

Sounds like questionable journalism, which isn’t unique.

But, the essence of the story is correct… sales are in the dumps and inventory was (but maybe no longer) growing.

backwardsevolution
Guest
backwardsevolution

Real estate takes time to roll over.

Best place on meth
Member
Best place on meth

Downtown Vancouver’s Telus Garden towers sold to an undisclosed buyer for an unknown amount

https://www.straight.com/news/1112841/downtown-vancouvers-telus-garden-towers-sold-undisclosed-buyer-unknown-amount

With the money coming from an undisclosed country.

The best thing about the real estate market in Vancouver is the undisputed transparancy.

Oracle
Guest
Oracle

This part of Canada is not yours anymore. Get used to it. Metro Van will be owned by Asians and the Fraser Valley plus Surrey by Indians.

Where do you think the 1-2 million people coming here over the next 20 years are going to be from? Western Europe? Lol

For example, Abbotsford population is about 150,000 and about 50,000 Indian. Within 20 years, population will be around 350,000 with 200,000+ Indian!

Majority baby!

Oracle
Guest
Oracle

And then spread to the okanagan valley baby!!!!

backwardsevolution
Guest
backwardsevolution

Oracle – you seem to take great pride in what you’ve just said, especially: “This part of Canada is not yours anymore. Get used to it.”

Why does this not surprise me? This is the ugly side of multiculturalism, the “Majority baby!” said with such glee and in such a haughty manner. Groups of people who bring their culture and who really are not interested in assimilating at all, just taking over.

Sounds like you have disdain for the country and people who took you in. Shame on you.

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

He pretends to be an immigrant so he can stoke exactly that kind of sentiment. Don’t fool for it.

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

Don’t fall for it, either.

nufio
Guest
nufio

just like the current population in metrovan is mostly speaking cherokee

Hyper-mega-Bull
Member
Hyper-mega-Bull

this is why you don’t do business with china.

Apple could be used as a ‘bargaining chip’ in the trade war, Chinese state media warns

Apple has benefited from cheap labor and strong supply chain in China which has helped it boost profit and get to a $1 trillion valuation, the state-backed People’s Daily said.

The U.S. firm should share that money with Chinese citizens, the article urged.

Apple could be the target of “anger and nationalist sentiment” amid the ongoing trade war.

https://www.cnbc.com/2018/08/07/apple-china-us-trade-war-bargaining-chip.html

Name
Guest
Name

“The U.S. firm should share that money with Chinese citizens, the article urged.”

so that “sharing” doesn’t include providing jobs for those local chineze ?

KickThemOut
Member
KickThemOut
KickThemOut
Member
KickThemOut

@Oracle – apparently trading sex for rent is NOT a recognized reason for sex trade yet.

Alex Sangha: Canada must reform sex trade laws:
https://vancouversun.com/opinion/op-ed/alex-sangha-canada-must-reform-sex-trade-laws/wcm/ef822528-f818-4556-add5-655bf4735dda

Oracle
Guest
Oracle

Nobody follows laws in Canada anymore.

Indian foreign students and local white pretty girls who can’t make rent are being exploited like you wouldn’t believe. But let’s bury our heads in the sand.

KickThemOut
Member
KickThemOut
KickThemOut
Member
KickThemOut

Wells has rotated among short-term rentals, couchsurfing and sleeping in her car for seven years. In the absence of family she stays on the island to keep connected to friends. But an eviction notice given to a friend means she will again be living in her vehicle in a matter of days.

“All this time, I have been under care for my heart,” she says, holding back tears. “The other day I was told I could have heart failure. As a 71-year-old person who has worked all their lives, to find themselves left with no resources, it hurts tremendously.”

KickThemOut
Member
KickThemOut

A soaring number of illegal short-term vacation rentals — when a property not zoned for commercial use is rented for less than a month at a time — and rising real-estate prices have pushed many long-time residents off the island or toward homelessness.

While 0.04 per cent of the population is homeless in Greater Victoria, 1.25 per cent of Salt Spring Island’s population were identified as homeless in this year’s count — which means 131 people. It’s a 58 per cent increase since 2016.

“And that’s undoubtedly a conservative number,” says Kyla Duncan, the Housing First coordinator for Salt Spring Community Services, adding that many feel ashamed of their situations and avoid being counted.

KickThemOut
Member
KickThemOut

For three years, Duncan has been working with landlords to help people find housing. But the situation has been deteriorating.

“I used to be able to find housing for these folks, but I can’t anymore, it’s become almost impossible. Even working professionals aren’t able to find houses,” she said. “If they’re calling it a crisis in Vancouver, it was beyond a crisis here on Salt Spring before that.”

KickThemOut
Member
KickThemOut

The centre runs the only homeless shelter on the island, although it only operates between November and March. Located in a 83 year-old house, it consists of a living room, where mats are used as beds.

The island has a limited housing thanks to restricted resource base, particularly potable water. Land use and zoning density are controlled by the Islands Trust, which by mandate exists to preserve and protect the ecosystem and often blocks developments.

Last September, residents voted against becoming a municipality, which would have brought zoning questions under local councillors. Salt Spring Island remains under the control of both the Islands Trust and the Capital Regional District.

KickThemOut
Member
KickThemOut

Jennifer Campbell, a working mother, and her two kids are sleeping in tents at a campground after they were evicted from their home at the end of July. The landlord was preparing to rent the place to tourists, she says.

“We were lucky enough to even get in there at this point,” Campbell said. “It’s been 5½ years of bouncing around. The longest we’ve been somewhere is for 13 months. They either sell their house or they ‘Airbnb’ it.”

“Sometimes people’s response is ‘just leave.’ We have our lives here, this is our home. My daughter is working here, she’s got a boyfriend here, my son is in school and has his best friends here. I don’t think the answer should be to just push us off the island.”

KickThemOut
Member
KickThemOut

Chelsea Jones and her husband, Forest Jackson, who were both born on the island and have lived here for more than 30 years, also feel they are being forced to leave. They have six children and haven’t been able to get rental accommodation for eight months, two of which they spent in motels before moving into her sister’s three-bedroom house.

“We’re using one room and the living room,” Jones said. “It’s the first time in my life I’ve felt that we’re going to be homeless. And it’s not that we can’t afford it, it’s just we’re never given a chance with any of the places we find.”

KickThemOut
Member
KickThemOut

The problem came to a boiling point in April when a public meeting was filled at capacity with more than 100 people. Residents complained about illegal vacation rentals, empty seasonal cottages not permitted for long-term residential use, and horror stories of competing with nearly 100 other respondents over a single for-rent ad.

One man who spoke, Brett Taylor, said his family was evicted from their home by new owners, in order to use it for vacation rental.

Taylor, who’s story was detailed in Salt Spring’s Gulf Islands Driftwood newspaper, moved into a yurt on a friend’s property, but was warned by a bylaw officer that his family was living on the lot illegally.

Taylor’s story provoked frustration as residents openly questioned whether bylaws were being enforced on those operating illegal short-term rentals.

KickThemOut
Member
KickThemOut
George Grams, one of three Salt Spring Island trustees on the Islands Trust, says politicians are taking action. “We’ve been aware of it, and we’ve responded to it. We’ve instructed our bylaw officer to take proactive enforcement,” he said. “There is a possibly of expanding the rental housing market by ensuring the illegal uses of residential properties is properly policed. But that action is going to take some time to bear fruit.” Salt Spring’s bylaw enforcement unit estimates they have recently sent out 80 letters of notice about short-term rentals in the past six months. “We think there’s more than that,” bylaw enforcement manager Miles Drew said. “We look for them, we don’t wait for a complaint.” But he said it can be a lengthy process. A first notice becomes a second notice, which eventually can turn into legal action.… Read more »
KickThemOut
Member
KickThemOut

Like other part of B.C., the housing crisis has become a leading topic on Salt Spring ahead of the upcoming local elections in October, in which Grams is not seeking re-election.

On July 26, local MLA Adam Olsen held a meeting involving trustees and the B.C.’s minister for municipal affairs to ask the province for a task force dedicated to finding a way to improve local governance and service delivery while respecting Salt Spring’s decision to remain unincorporated.

KickThemOut
Member
KickThemOut

Grams also said Salt Spring’s three Island Trust trustees are reviewing bylaws with an eye to allowing residential use of seasonal cottages.

“But in making those existing buildings available, we have to ensure we respect the mandate of the trust, and that the preservation and protection of our environment will not be compromised,” Grams said, adding that he supports the idea of putting a cap on how many people can live on the island.

“The island should determine its carrying capacity. What is our build-out rate? How many dwellings can we sustainably support within the confines of the natural resources? And that (determination) has never been done.”

KickThemOut
Member
KickThemOut

For Duncan at the Salt Spring Community Services, the fragmentation of local government on the island means that non-profits carry the load of pushing for changes more so than elsewhere.

“Maybe it’s out of sight, out of mind,” she said. “But there’s people in serious need of more housing.”

Dave
Member

Salt Spring is NIMBY central. This is what happens when you oppose everything you dummies. That Grams guy sounds like a real dummy too. Your island is bigger than the City of Vancouver. It can hold a lot more people.

southseacompany
Member
southseacompany

Steve Saretsky in BC Business: “Is B.C.’s building frenzy putting the property market on a boom-bust trajectory?”

https://www.bcbusiness.ca/Is-BCs-building-frenzy-putting-the-property-market-on-a-boom-bust-trajectory

“With its construction pipeline full and housing demand sliding, the province has entered the late innings of the real estate cycle”

Dave
Member

I like Steve, but he seems a little too confident of his opinions. Until you start calling things right, I think a bit of humility is needed.

For example, he suggests that a crash is inevitable because construction is at all time highs. I think you need a bit more rationale and evidence to link the two.

backwardsevolution
Guest
backwardsevolution

Dave – Steve DOES have humility. He always states that if the government steps in and props up the market AGAIN, then things could change. If there’s a market crash, things could change. If China’s trade war with the U.S. heats up, things could change. If China’s bubble bursts, then things could change. If the Fed…..if the Bank of Canada…..there are always variables, and Steve always emphasizes this.

Dave
Member

OK, maybe I have him pegged wrong. I haven’t looked at him much and I had the impression he was telling people a crash was all but inevitable.

What I like about him is that he brings macroeconomics into the discussion, which very few people have to this point. But as we know, macroeconomics failed to predict the last three years. It could be wrong again.

Doomcouver
Guest
Doomcouver

Economic theory is incapable of predicting market sentiment. People still love real estate, ergo, real estate is still expensive. The billion dollar question is when market sentiment could change, and how much that will kill demand. If you knew both of these things, economics could tell what prices will do and when.

bullwhip29
Guest
bullwhip29

more context on the defacing of Crazy Rich Asians poster in Kitsilano…
https://bc.ctvnews.ca/poster-for-crazy-rich-asians-movie-defaced-with-racist-graffiti-1.4043367

bullwhip29
Guest
bullwhip29
some here might recall this story from a few months ago https://globalnews.ca/news/4181021/another-tenant-says-kitsilano-landlord-used-leak-in-apartment-as-grounds-for-eviction/ >>> well, as it turns out the poster and bus stop in question is located right outside this building owned by slumlord Hong Li Yu (unclear whether she is related to “Emily” or not…) who is still up to no good and operating business as usual as per a detailed account from an actual tenant I know in the building. in a nutshell she is systematically approaching each tenant with offers to sign new lease under new terms, do “minor maintenance” and “upgrades” (out of the goodness of her heart) and the like and then turning the tables on said tenant who is naive enough to fall for these shenanigans. apparently many of the residents have now banded together to keep her from initiating further illegal actions. having… Read more »
bullwhip29
Guest
bullwhip29

and to continue on… I also heard she shut down the laundry room for weeks and dragged her feet on doing repairs in addition to doing required work on the heat/hot water in the bldg, which was also out of service for a period of time. what a total $hithole this city has turned into…

Name
Guest
Name

“The graffiti even drew the attention of the film’s director, Jon M. Chu, who responded with a tweet saying, “Nothing will shake us. Sorry. We still here.”

What? No (sic) on that statement? I suppose when he is ESL they will cut him some slack?

bullwhip29
Guest
bullwhip29

and regarding that online map tracking the “legal” bnb’s in rmd…

>>> firstly, what is the city going to do about all the supposedly legit businesses that do not conform to the 500m limit? force one or the other to close? lol… or just grandfather everyone? maybe all these clever richmondites new certain measures would be taken and scooped up every blank space on the board? ie. anyone looking to get into the “funhouse” business will now have to make special arrangements to obtain a licence going forward. obviously, this map represents only the tip of the iceberg, but we all know nothing will be done with what the average joe out there won’t ever see…

bullwhip29
Guest
bullwhip29
A Richmond couple is suing Quilchena Golf and Country Club because their nearby property has allegedly been hit by golf balls https://www.vancourier.com/errant-quilchena-golf-balls-result-in-court-claim-1.23389943 >>> yet another example of owners crying foul and stretching the truth when things (ie. the RE market) don’t live up to expectations. in defence of the golf course, these buyers knew full well that they would be living 100-150 ft from the fairway and that there was an increased risk of getting hit by a stray ball (just as homeowners who live on busy streets could wind up having a random supercar land in their livingroom at any given moment). perhaps more important, these owners should also have known that the ground especially in that area of richmond is highly prone to flooding with drainage issues worsening as the years go by (as anyone who golfs at… Read more »
kabloona
Member
kabloona

“Toronto condo owner who discovered unit was rented 70+ times on Airbnb wins case against tenant”

https://www.cbc.ca/news/canada/toronto/toronto-airbnb-rentals-followup-1.4773393

“A Toronto landlord who discovered her condo unit was being rented out repeatedly on Airbnb — behind her back by someone tied to a property management company — has won her case at the Landlord and Tenant Board.

The recent decision follows a March CBC Toronto investigation that exposed how multiple condo owners’ units were being listed on the home sharing website by a “host” who claimed she worked for a local property management company, which prompted calls for more regulations…”

Name
Guest
Name

Never mind about the dumb idea of buying a condo as a “retirement investment” she should have run the Airbnb herself she would make way more than $2,100 month she was collecting in rent.

Name
Guest
Name

Long-time Vancouver business temporarily shuts down due to worker shortage

https://www.news1130.com/2018/08/07/long-time-vancouver-business-temporarily-shuts-due-worker-shortage/

Lots of reasons given, apparently the young workers don’t have a good work ethic and won’t stick around to solve problems… and they can work online at Amazon and not leave their bedrooms… but no mention of the high cost of living and housing shortage in Vancouver or low wages as being causes…. this business owner seems quite out of touch with reality.

Dave
Member
A little out of touch in the sense that we live in a free market and they are in competition with other businesses for workers. If you can’t compete with Amazon for whatever reason, then that’s just the market. The worker is less to blame than the employer because the employer is in control of what they can offer people. If people value free time, you need to find a way to accommodate that to be competitive. This is a good example of why we’ll see more and more automation in the future. It will be easier to buy computers and AI with zero percent financing than to spend your time managing humans. And yes, real estate is a big factor in all this. You can’t live here on minimum wage. This is also an example of how we are… Read more »
backwardsevolution
Guest
backwardsevolution

Dave – you don’t have children, do you, Dave?

Dave
Member

I do in fact. Why?

Doomcouver
Guest
Doomcouver

I think the real estate collapse will be happening before $10 coffee. Just like rents, business prices have an upper bound due to real demand. Most people would just start making their own coffee if it gets that expensive.

Doomcouver
Guest
Doomcouver
She does mention high cost of living and poor poor transit options. Weird that she mentions a poor work ethic first though… I think if you had an attractive wage you’d get people with a better work ethic. You’re basically scraping the bottom of the labor market in these service jobs so it’s inevitable you’d get bad workers. Sadly even in a massive real estate crash, these businesses are screwed over the short to medium-term. Rents will likely stay buoyant for at least a decade after the crash as former homeowners flee the property ownership market into rentals. Also, even if housing prices come within reach of the working class, banks will be risk averse and will refuse to lend to young people with a short credit history and small down payments. I think TFW (aka. foreign scabs) is the… Read more »
patriotz
Member

“Rents will likely stay buoyant for at least a decade after the crash as former homeowners flee the property ownership market into rentals.”

After the early 1980’s crash the rental market stayed weak for years. Reason is pretty simple – in hard times demand falls because people double up or move in with parents.

” Also, even if housing prices come within reach of the working class, banks will be risk averse and will refuse to lend to young people”

Banks will lend to anyone who meets CMHC requirements. They will just be more careful that those requirements are met.

Name
Guest
Name

Also many people working in construction and related industries will move out of the area to somewhere cheaper once they are unemployed.

Doomcouver
Guest
Doomcouver

“After the early 1980’s crash the rental market stayed weak for years.” The rental market boomed in the USA after the 2008 crisis. Usually a crash in prices pushes people into rentals. I will admit the knock-on effect on people’s incomes may depress rents slightly however. Realtors, bankers and construction workers aren’t going to have much money to spend on rent.

“Banks will lend to anyone who meets CMHC requirements. ” You’re assuming CMHC will be operating the same way. They’ll be underfunded and on the verge of insolvency. They’ll be risk averse as well.

Doomcouver
Guest
Doomcouver

FYI I was reading the real reason why they can’t get workers is because the owner is a giant a-hole and yells at her employees. It’s no wonder no one wants to work there.

Name
Guest
Name

she sure sounds like an a-hole….

bullwhip29
Guest
bullwhip29

A black man was denied accommodation from a Richmond Airbnb host, who has since been removed from the company’s website following a complaint
https://www.richmond-news.com/news/black-man-denied-by-richmond-airbnb-host-guest-1.23392261

the host, who appears to be of Asian ethnicity, wrote in an online message “Is he black?”

“She said, ‘there’s no blacks allowed in the building, please cancel your reservation,’”

the host, Grace, then backtracked on her statement and in a subsequent online message to Van Hoepen, she tried to explain that a black man in the building would tip neighbours off to her apparently illegal Airbnb listing

…those Crazy Rich Asians and their never-ending cheating, lying and sketchy antics…

Name
Guest
Name

It is well known that azians are extremely racist against blacks.

Oracle
Guest
Oracle

Extremely racists towards blacks. The full sun shades they wear; here is the real reason:

SJW and lefties think they are trying to protect themselves from skin cancer. Hahaha.

Real reason is the fairer skin you have, the higher the status.

Same with the breathing masks. They are trying to prevent themselves getting sick. Hahaha

bullwhip29
Guest
bullwhip29
Hyper-mega-Bull
Member
Hyper-mega-Bull

Vancouver police issue photo of suspect in masked sex assaults December 8, 2017
In both incidents, the suspect is described as an Asian man who wore a surgical mask over his face.

Masked man seen running at assault victim in attack on camera in Surrey November 29, 2017
The male suspect is described as Asian and about 5-9 with a slim to medium build. He has short black hair that was spiked at the front, and was wearing dark clothing and black-framed glasses. He was also wearing a white mask, and may have been carrying a backpack.

Suspect in surgical mask stumps Richmond RCMP APRIL 27, 2018
The suspect could be described as:
Male, possibly of Asian descent
Thin build

Name
Guest
Name

Chilliwack nail salon locks in customer who wouldn’t pay:

https://globalnews.ca/news/4373677/chilliwack-nail-salon-customer-locked-in/?utm_source=Article&utm_medium=MostPopular&utm_campaign=2014

this azian nail salon locks a customer in who wanted to pay half the bill due to shoddy workmanship. We are talking $38 dollars here. Is $38 so important to the chineeze that they resort to this type of behaviour?

Oracle
Guest
Oracle

I’ve given up. Canadians will have lost all this land within 50 years without a shot being fired. Hahaha

bullwhip29
Guest
bullwhip29

in case you forgot, it is happening everywhere…

Botched eyebrow job leads to wild nail salon brawl
https://nypost.com/2018/08/06/botched-eyebrow-job-leads-to-wild-nail-salon-brawl/

Oracle
Guest
Oracle

Your friendly NDP putting up photo radar at all camera intersections to grab money out of you.

Why not ban foreign drivers licence holders instead???

And once these fake drivers with bought licences hits you, you only can claim $6000.

Your friendly scamming NDP.

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

How will they be grabbing money from you if you’re not speeding through an intersection?

Oracle
Guest
Oracle

I think first step should have been taking away the right to drive with foreign drivers licences from Asia and South Asia.

Oracle
Guest
Oracle

And maybe they should lower speed limit in Richmond to 25km/hr. yes SIDA?? Then catch these guys via photo radar. Yeah??

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

What on earth are you trying to say? You’re making less and less sense recently.

Dave
Member

This NDP government is starting to feel a lot like the last one.

Oracle
Guest
Oracle

I voted for these guys and no way these guys last. No possible way. They will totally fuck up the referendum as well. Not happy with the Greens either. This GreeNDP accomplished shit. Just raising taxes.

Name
Guest
Name

These are red light cameras not photo radar cameras and they were installed by the BC Liberals.

Oracle
Guest
Oracle

Just curious if there is anyone older than me here. Let’s here it guys tobget perspective.

37 and will have to buy soon. That’s why the pressure on NDP.

Only way to have it paid off by 62 with 25 yr amortization. Otherwise who wants to pay mortgage after retiring. I only have a one or two year window. That’s why so mean and demanding here.

Let’s hear others situation.

Name
Guest
Name

You should buy right now because you will be competing with all those 100,000’s of indians immigrating here who will drive up Surrey prices.

Oracle
Guest
Oracle

I will if the referendum fails. I think many people waiting for that.

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

Great, now I know how to vote.

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

Why do you “have to” buy?

Methinks you’re full of shit. Once again.

Oracle
Guest
Oracle

Because I believe rents will continue to go up. That’s why.

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

Sounds like a choice to me.

Doomcouver
Guest
Doomcouver

When you’re stuck between a rock and a hard place, the solution isn’t to start eating gravel. If rents become too unaffordable, the solution is to move away. I do not see rents getting much higher however because unlike housing there are no “speculative renters”. The prices are completely driven by real people with real wages.

Oracle
Guest
Oracle

Prices are driven by what foreigners are willing to pay. 8 foreign students to an apartment or 1 rich kid buying a mansion. It’s all happening.

Look at Vancouver. Rents outpacing wages so that businesses have to close.

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

Foreigners and foreign money are a drop in the ocean compared to greedy locals who expect unlimited price appreciation. We have data.

paulb
Member

New
327
Price Change
132
Sold
72
TI:12736

http://www.clivestevepaul.com

franko
Member
franko

Still not sure about where the market is headed Dave?
With price changes almost double of sales, it might be time to lower your stink bids.

Dave
Member

A lot of those are relistings of month end expires in the first week.

The market is weak for SFH but it’s still alive for condos. I think things head down overall but not so far that I’m scared to buy.

Oracle
Guest
Oracle

I think you’re ahead of the curve here as well Dave. I’m going to try to get into your mindset and get my feet wet.

If the referedum fails, at least I can jump in the next day without having to plan.

Best place on meth
Member
Best place on meth

I’m going to try and forget the creepiness of you getting your feet wet in his mindset.

No luck so far.

Dave
Member

It is passes, I wouldn’t rush at all. It will be a slow motion train wreck for the next decade. Ten years out is the time to buy once we restore the current system.

If it fails, I don’t think it’s a big rush either as there will be a Spring election with a likely NDP majority. While it won’t be a bull market, there will at least be some certainty.

Oracle
Guest
Oracle

If NDP get a majority, they won’t do anything on housing because so many MLAs and their families are invested on multiple real estate.

Oracle
Guest
Oracle

They’ll just tax workers more.

Dave
Member

I sort of agree. I think an NDP majority will bring some certainty back to the economy, which means housing will be steady and predictable. IMO… that’s the best outcome for this housing mess. Nobody should wish for the armageddon scenario that PR would bring us. A lot of people who want to buy won’t be able to in that scenario.

oopswediditagain
Guest
oopswediditagain

http://vancitycondoguide.com/vancouver-condo-sales-july/

Vancouver Condo Sales Drop 22% Year over Year In July

Shadow Inventory
Guest
Shadow Inventory

Diff. in Inventory = 12736- 12612 = 124
New-Sold = 327 – 72 = 255
So what happened to the 131 missing listings?

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

Expired.

yvr2zrh
Member

Comparative prior year
Sold – 183
Inventory +60 (This year is +124).

I think we may see a good sales day today. Sometimes when the listings are very high, it seems to almost overwhelm the board and they don’t get the sales entered – so the sales then come the next day. Either way, market is bad – – it has been really bad for 3 months and it has not shown any sign of a slight uptick.

Also – back in town for a bit – including family reunion – interesting to hear all the chatter – – will write something later but the short version is that everyone things market is bad and prices will fall now – most agents are telling buying clients to wait.

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.

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 »
Doomcouver
Guest
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.

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

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
Guest
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….

😉

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.

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.

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 »
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

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.

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

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.

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.

kabloona
Member
kabloona

CMHC is the real Federal elephant in the room….

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

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.

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.