The hollowing out of Vancouver

Some smaller retailers are packing up and leaving Vancouveras rents rise and some owners would prefer to leave retail units empty:

“Certain areas of Vancouver are hollowing out,” Patterson said.

On Denman and Robson, he suggested it is due to higher rents, some of which is tied to rezoning potential.

“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.”

Retail lease rates on Robson Street range from $120 to $250 per square foot, the second highest in the city behind Alberni Street, according to a recent survey by Cushman & Wakefield.

A second-quarter 2018 study by commercial realtor Marcus & Millchap showed the average price of a retail property sold in Vancouver this year was in excess of $1,000 per square foot, up 25 per cent from 2017. Average retail rents now average $30.10 per square foot, up nearly 10 per cent from 2017, the agency added.

Read the full article over at the courier.

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Make Vancouver Canadian Again
Guest
Make Vancouver Canadian Again

It’s starting to look like the right wing of Vancouver is firming up behind Wai Young. There is a Georgia Straight article right now that talks about several former NPA-ers heading over the Wai Young’s Coalition Vancouver after the implosion of the old guard NPA (they don’t put it that way, but that’s essentially what happened).

The article is titled “Wai Young’s Coalition Vancouver open to alliances with others including Glen Chernen”

-the headline doesn’t convey the significance of what is happening, IMO

Wai Young for Mayor of Vancouver!!!

bullwhip29
Guest
bullwhip29

the significance is that the next mayor is very likely to be Chinese

Honestly
Guest
Honestly

Why is it that significant?

Best place on meth
Member
Best place on meth

“Vancouver businesses pay 4.87 times the residential tax rate – the highest multiple in Canada — according to Altus Group and Real Property Association of Canada.”

Once again, useless freeloading home owners get all the breaks, this time at the expense of productive businesess.

paulb
Member

New
169
Price Change
81
Sold
68
TI:12800

http://www.clivestevepaul.com

Screwed
Guest
Screwed

13k by Monday?

Dave
Member

I wonder how far you have to go back to find a lower sales number.

Confucius
Guest
Confucius

Christmas. Merry Christmas Dave.

Best place on meth
Member
Best place on meth

A lower number in August?

I believe the Head Tax was still in effect.

Oracle
Guest
Oracle

That’s great. Hopefully true fear enters the market and it goes into free fall.

I’m just worried that the valley isn’t getting the message.

Screwed
Guest
Screwed

https://www.zerohedge.com/news/2018-08-09/george-magnus-fears-looming-threat-yuan-depreciation

A yuan depreciation could also trigger a resumption of capital flight, even though the post-2016 system of controls has proved to be much less porous than the previous regime. The People’s Bank of China is now acting to penalize traders who are looking to go short on the yuan. It has the tools, including the use of currency reserves to intervene, to stand its ground if the politics so dictate.

Oracle
Guest
Oracle

NDP pulled a smooth one on the minions today with icbc.

All they had to do is allow good drivers to have online insurance renewals and bypass the Autoplan fees who pocket $300 for 10 minutes work.

No wonder an Autoplan licence is worth $1.3 million now.

Wow.

Oracle
Guest
Oracle

And since these changes are revenue neutral, you still have to make up the $1 billion shortfall while not getting your fair share for injuries. WOWowow.

Expect your rates to go up substantially.

But cheer on minions. Eby is a god. Hahaha.

Now you’re going to be priced out of driving

Mr. X
Guest
Mr. X

IDK where you get your information from but you are wrong on the $300 for insurance renewal.

bullwhip29
Guest
bullwhip29

the broker commission is nowhere near that amount but I dont know about the dealer. he could be right. insurance in bc is the most expensive in the country

Oracle
Guest
Oracle

Trust me it is. You have the Autoplan licence owner and then you have the salesperson.

The salesperson makes little but the Autoplan owner makes lots.

Source: relative owns 3 licences and has 30 salespersons.

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

Why would we trust you? You have repeatedly shown yourself to be a lying sack of shit.

Oracle
Guest
Oracle

It is. Going rate for an Autoplan licence (piece of paper) is now $1.3 million.

Oracle
Guest
Oracle

False propaganda.

They do make $300 per policy. Salesperson takes $60 out of that.

Kind of like taxi system. Medallion owner and driver.

bullwhip29
Guest
bullwhip29

I am told that good drivers in areas with a less than stellar reputation like Richmond will get penalized too

Best place on meth
Member
Best place on meth

B.C. boomers keen to move on to smaller homes: real estate report
In B.C., a whopping 24 per cent of respondents expect their kids won’t have moved out by 35.

https://vancouversun.com/news/local-news/b-c-boomers-keen-to-move-on-to-smaller-homes-real-estate-report

Oh, so that’s what is holding up their downsizing.

Mr. X
Guest
Mr. X

25 years ago a 35 year old would be out of university/college, have a career, house, car, and a wife and family. Now they are still living in their parents basement. Failure to launch.

bullwhip29
Guest
bullwhip29

the space’s, sida’s and kto’s can attest to this. likely now in their 40’s they have no intention of going anywhere or lifting a finger until their parents kick the bucket and they inherit the whole works. ask around, this is a legit gameplan being deployed by many in their 20s, 30s, 40s and so on who are living in Vanc

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

Boomers are happily living into their 90’s.

Are these losers going to keep doing nothing until retirement age to get their hands on their parents equity?

bullwhip29
Guest
bullwhip29

The City of North Vancouver announced today they would be taking the owner of an illegally run hostel to court
https://globalnews.ca/video/4380180/city-of-north-vancouver-takes-on-illegal-oasis-hostel/

bullwhip29
Guest
bullwhip29
Mr. X
Guest
Mr. X

China hints at three-child policy with ‘happy family’ stamps

https://www.bbc.com/news/world-asia-china-45124502

Have more kids now for a “happy family”. Yay!
But it’s too late for them.

bullwhip29
Guest
bullwhip29

i guess Mr + Mrs “I buy three” knew exactly what they were doing all along…

Burnabonian
Guest
Burnabonian
These types of hand-wringing pieces always distill down to the core fallacy that real estate is a special asset class that must always hold its’ value for some reason. If you understand that RE is a market-priced commodity just like iron ore and pork belly futures, you understand that distorted prices are necessarily temporary. As as the effects. Author is trying to perpetuate the myth of “it always goes up” through mock outrage and sympathy for those poor, poor renters who have missed the boat forever and obviously have no choice but to give up on their lives and leave Vancouver. How about a piece where the author describes how much of his net worth is risked against his real estate holdings? 200%? 400%? The fact that he has essentially gambled his family’s future, using a margin account, on a… Read more »
bullwhip29
Guest
bullwhip29

T & T Lansdowne to open next week
https://www.richmond-news.com/business/t-t-lansdowne-to-open-next-week-1.23395682

– the grand opening on Aug. 16, T & T will offer free drinks and snacks, and the first 400 customers through the door will receive a gift card
– there will also be a six-foot dragon made of hundreds of pieces of sushi which customers may have the opportunity to devour

>>> translation: avoid this part of Richmond on that day. there is no guarantee you will get any sushi, only the “opportunity” to “devour” what you can with one hand while shovelling as much as possible into whatever unused container, jacket pocket or orifice that may be available

bullwhip29
Guest
bullwhip29
Best place on meth
Member
Best place on meth

This is going to make black friday at Walmart look like a church picnic.

Stay at least 1500 metres away from this massacre and if you must go, wear a helmet, elbow pads and cup.

Full riot gear would be better if you can obtain it.

southseacompany
Member
southseacompany

“Three possible scenarios for Vancouver’s housing market”, BC Business

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”

Burnabonian
Guest
Burnabonian
LOL. The myth of the soft landing, restated as a near certainty. With the next most likely outcome supposedly being more of the same forever: “It’s pretty to think so. But are we too late? Now that we’re on the international radar, are we just a long play for global investors and domestic speculators?” Money is all in computers now. Anyone who thinks that the Chinese government is not determined or authoritarian enough to turn off their capital flight problem has been hitting the bubble tea too hard. RE: domestic speculators, same article states that 1 in 5 mortgage applications is now expected to fail the B20 stress test. Last one out please turn off the lights. Yet the article can’t see it being likely that real estate reverts to fundamentals, even with the river of easy money it survives… Read more »
bullwhip29
Guest
bullwhip29

Bad drivers to pay more in B.C. under new auto insurance plan
https://www.richmond-news.com/bad-drivers-to-pay-more-in-b-c-under-new-auto-insurance-plan-1.23395353

>>> another “plan” full of holes and countless loopholes that will surely be exploited…

bullwhip29
Guest
bullwhip29

– adjustments would take effect in Sept 2019, but some elements will not be implemented until 2027
WHICH ELEMENTS? PLEASE CLARIFY…

– changes are revenue-neutral and not intended to put a dent in ICBC’s deficit
REALLY? SO ICBC CONTINUES TO LOSE BILLIONS BUT IN A MORE APPROPRIATE MANNER…

Oracle
Guest
Oracle

It’s a money grab. How else they going to make up the $1 Billion per year. The people that will be screwed are parents with teenaged kids just getting ready to drive.

Open those wallets people!! Your friendly NDP could have made things affordable but they love minions.

bullwhip29
Guest
bullwhip29

– B.C. would move to a driver-based model, so at-fault crashes are tied to the driver and not car owner
OWNER SHOULD STILL BE SOMEWHAT ACCOUNTABLE FOR WHO IS USING THE CAR. OWNER STILL TAKES IT ON THE CHIN IF THEIR VEHICLE IS DAMAGED IN AN ACCIDENT REGARDLESS OF WHO IS DRIVING OR IS TO BLAME

– customers would have to list all the drivers who may operate the vehicle
SO GIVEN WHAT THEY SAID ABOUT SWITCHING TO DRIVER-BASED, GOOD LUCK WITH THIS

Oracle
Guest
Oracle

This is to stop ridesharing. They are playing the minions.

Any company with 5+ cars will qualify for fleet insurance. So if driver gets in accident, his own insurance won’t go up.

But now if a Uber driver gets in an accident….he will be screwed because they will say the car is personal first….

Rather than explaining this, it means a barrier to big ridesharing companies.

bullwhip29
Guest
bullwhip29

– premiums would be calculated based on years of experience, number of at-fault crashes, place of residence and how the vehicle is used
THIS MEANS YOUR PREMIUMS ARE GOING UP IF YOU LIVE IN SKETCHY AREAS LIKE RICHMOND EVEN IF YOU ARE A SO CALLED GOOD DRIVER. PROBLEM SOLVED, JUST DON’T USE THAT ADDRESS

– crashes caused by the learner before they get their licence won’t be counted in their driving history
I BET ALL THESE DRIVERS WITH L and N STICKERS CAUSING A DISPROPORTIONATELY HIGH % OF ACCIDENTS AND THEY WILL NOW GET FREE PASS ON THE BACKS OF OTHER DRIVERS. ICBC SHOULD EXPLORE USING A THREE STRIKES RULES THAT APPLIES TO NEW AND LEARNER PERMIT HOLDERS THAT JUST CAN’T SEEM (or are unwilling) TO PASS THE TEST

Name
Guest
Name

ICBC has always had region based pricing.
Like if you live up north somewhere you’d pay less for the equivalent insurance coverage than if you live in Vancouver.
Also pricing based on distance driven to and from work under 15 km you’d pay less for that portion of the coverage.
Or reduced pricing for coverage on pleasure driving only (no commuting)
etc.

bullwhip29
Guest
bullwhip29

yes, but it sounded like the pricing model would be “updated” somehow to better reflect the risk. anyway, i am betting premiums go up even more for richmondites just because they live there.

Oracle
Guest
Oracle

The body shops and Autoplan dealers will continue to make the big $$$.

Now out your hands up minions who still think the NDP is working for them. Hahaha

Name
Guest
Name

I recently had my car repaired at a local body shop for what looked like relatively minor damage and the final cost was in the multi-thousands of dollars. Of course it was the body shop that did up the estimate and decided what parts and labour was needed and sent the final bill to ICBC . Fox meet hen house.

bullwhip29
Guest
bullwhip29

basically an amped up version of what goes on at any typical auto dealer service dept. while under warranty they got customers by the balls with their “recommended” service schedule and all that and it is up to the customer to investigate which services and OEM parts are really required and those that are totally unnecessary and simply upsold to the client for pure profit at massive markups of 200-300% or more

bullwhip29
Guest
bullwhip29

>>> more on the hollowing out theme…

Bistro Pastis to close its doors after two decades on West Fourth
https://www.vancourier.com/news/bistro-pastis-to-close-its-doors-after-two-decades-on-west-fourth-1.23395251

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

So many better alternatives. This is what happens when you fail to notice the competition.

KickThemOut
Member
KickThemOut

People here believe every house, every business, every tree is sacred and should never ever be torn down, closed down, or removed ever for any development and progress. Surprised they just don’t go back to living in caves and tippees.

KickThemOut
Member
KickThemOut

Chinese belligerence showing itself again: https://www.zerohedge.com/news/2018-08-09/war-front-me-new-chinese-military-video-shows-advanced-weaponry

“Peace behind me, war in front of me. Pick up the steel gun, we must let go of the children.”

“You can’t call them [Russia and China] our friends if they’re building weapons that can destroy the United States of America,” Gen. Hyten said.

KickThemOut
Member
KickThemOut

Nothing screams I want attention but I’m too pathetic to any than to use all caps – @bullwhip, but then what can you expect from a basement dweller who is now allegoric to sunlight and gravel and lick the toilet seat his Chinese master shits on. Pathetic.

bullwhip29
Guest
bullwhip29

HMM, WHAT DID I SAY? ANYWAY, JUST LIKE THAT YOU SHOW YOUR TRUE COLOURS ONCE AGAIN WHEN YOU SEE OR HEAR OF ANYTHING THAT SOMEHOW HITS A SENSITIVE NERVE…LOL

HOW ARE THINGS GOING ON POF BTW….?

Oracle
Guest
Oracle

Ignore him. I’m sure he’s just a kid.

bullwhip29
Guest
bullwhip29

while he may act like one and have the attention span of an insect, i bet he was conceived some time in the mid to late 80’s (maybe earlier)

KickThemOut
Member
KickThemOut

You still don’t get it do you? well…what can you expect from someone with intelligence of a turd.

bullwhip29
Guest
bullwhip29

yet more confirmation…in under 4 min flat you’re on this like a locust “devouring” fresh kiddie $hit left behind in a planter at Oakridge or blueberry field in Richmond

KickThemOut
Member
KickThemOut

We don’t need to know your sick fantasies

bullwhip29
Guest
bullwhip29

With fears of Richmond introducing a similar plastic straw ban in line with Vancouver, The Bubble Tea Shop has launched reusable stainless steel straws for their customers
https://www.richmond-news.com/living/bubble-tea-business-steels-for-plastic-ban-1.23396301

>>> and yet another clever entrepreneurial soul trying to cash in while pretending to save the earth

>>> customers have the option to purchase the new straws retailing at $3.50 for the bigger size and $3 for the smaller one with various colours such as rose gold, black and chrome also available. let me guess, these are “crafted” in china and coated in lead based paint not to mention other toxic sketchy chemicals

>>> but here’s the kicker…Plastic straws (as well as cups, lids, plates and cutlery) are still being used in-store with the vast majority of this waste going straight into a landfill not recycling.

KickThemOut
Member
KickThemOut

We should just ban bubble tea stores and their copious plastic wastes. Straws of all kinds should be banned period. They are as much as abomination as peeled oranges and asparagus water that Whole Foods tried to peddle a few years back.

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

And of course bubble tea stores are the only kind of stores which produce plastic waste. Amiright?

KickThemOut
Member
KickThemOut

Do you ever see bubble tea stores run by non-Chinese?

KickThemOut
Member
KickThemOut

Why we must not allow Chinese to possess deadly firearms!
https://bc.ctvnews.ca/road-rage-blamed-for-deadly-shooting-in-east-vancouver-1.4047946

bullwhip29
Guest
bullwhip29
KickThemOut
Member
KickThemOut

Sell out? Maybe to zombies and plants and homeless just WanTing a place to sleep, and Oh, I guess our Mayor scouting for his next trophy exotic girlfriend for his Federal Lib Housing Minister campaign.

https://www.forbes.com/sites/scottmendelson/2018/08/10/box-office-the-meg-chomps-4m-thursday-crazy-rich-asians-sells-out/#374ee52c6cbb

bullwhip29
Guest
bullwhip29

for F&#k’s sakes this never ends…

The liquidators tasked with unravelling the massive fraud behind the bankruptcy of China Medical Technologies Inc. are suing the company’s former senior vice-president of operations, Zhu Feng (Charles), seeking to freeze assets including a $2.9 million home in West Vancouver
https://www.richmond-news.com/business/china-medical-technologies-liquidators-seek-to-freeze-former-executive-s-assets-1.23396108

Best place on meth
Member
Best place on meth

Fraud? Embezzlement? Laundering stolen loot in Vancouver real estate?

Yawn…..

bullwhip29
Guest
bullwhip29

A West Vancouver builder of luxury homes is fighting back against claims that he and his wife owe money to a Burnaby man who alleges he had a deal with the couple to market a multi-million-dollar property
https://www.vancourier.com/west-vancouver-builder-denies-claims-of-shadow-flipping-deal-1.23396132

The property sold on June 28 to Yu Hong Zhao and Qing Yang Meng of Chelsea Court in West Vancouver. My guess is someone got shafted in the deal…

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

Nothing more amusing than (2) ethnic groups involved in these intercultural he said – she said pissing matches.

Sub in Caucasian..then it is RACISM

bullwhip29
Guest
bullwhip29

a glimpse of life in Vancouver in the not too distant future…
https://www.scmp.com/photos/today-photos/2159215/mcrefugees-hong-kong

kabloona
Member
kabloona

“B.C. Attorney-General asks for ex-B.C. Liberal government’s money laundering files”

🙂

https://www.thestar.com/vancouver/2018/08/10/bc-attorney-general-asks-for-ex-bc-liberal-governments-money-laundering-files.html

Start squirming, Wilkinson…. 😀

bullwhip29
Guest
bullwhip29

why? i can guarantee you Krusty got rid of all this along with any other incriminating info a long time ago (aside from material that was conveniently left behind for Jing Li’s legal team to dig up)

Oracle
Guest
Oracle

They is all hot air. Just to get minions excited. No one will be jailed.

Then they will feed at the trough like pigs themselves.

Best place on meth
Member
Best place on meth

Triple deleted.

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

Simple deflection by Eby…..water under the bridge…

How about an even bigger crime…the fraud of PR that will be shoved down our throats.

Strata Hacket
Guest
Strata Hacket

What a wimp this Ebby egghead is. Total joke.

Diadora
Guest
Diadora

Ebby is the best thing that happened to Vancouver. Ebby for Prime Minister!

Oracle
Guest
Oracle

You are so lost. He is playing the dumb like a fiddle and there seem to be a lot of dumb out there.

Do you not wait for results before commencing a politician??????

I will commend him if he fulfills his election promises AND I see much lower rents and prices.

Best place on meth
Member
Best place on meth

Come on whoreacle, say “minions” again!

It’s as if you just saw some adorable movie and can’t get the name of it out of your head.

Name
Guest
Name

at least he didn’t call you “son”

kabloona
Member
kabloona

Ebby is the best…everyone says so. Many people say Ebby should be PM too…..

Vote Ebby!!!!

😀

BubbleTea
Guest
BubbleTea

We’re number 1 on Global cities house-price index, we even beat out HK!
https://www.economist.com/graphic-detail/2018/08/09/global-cities-house-price-index

Oracle
Guest
Oracle

Those are just the English speaking cities.

They don’t include the Shenzens, Mumbais and Shanghais of the world where prices make Vancouver look cheap.

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

You obviously didn’t read the link. Shanghai and other English-speaking cities like Tokyo and Athens are on the list.

Are you a compulsive liar or just a fucking idiot? Both?

patriotz
Member

As you can see on the graph, the index simply shows house prices in each city relative to the year 2000. So Vancouver has gone up more % wise than HK since 2000, but that doesn’t necessarily mean that Vancouver is more expensive. If you picked 2003 – which was the bottom of the market in HK – as a start HK would be ahead.

Hyper-mega-Bull
Member
Hyper-mega-Bull

sinophication ramping up into high gear.

this from a richmond city councillor.

According to the Sing Tao article, Au said, “the Chinese population in Richmond has increased but their influence hasn’t increased much. People should consider how to make Richmond a Chinese city.”

https://www.richmond-news.com/news/chak-au-nobody-can-claim-to-represent-chinese-vote-in-richmond-1.23395002

Name
Guest
Name

This is what happens with a policy of “multiculturalism ” vs. A “melting pot ” mentality like in the U S . Canada has all these ethnic ghettos.

Best place on meth
Member
Best place on meth

What a fucking racist thing to say.

What if a city councillor said people should consider how to make Richmond a white city?

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

Well said. Who will call him out?

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

Wait, I thought that Chinese isn’t a race? Double standards much?

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

Comment section disabled as expected.

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

Because they know people like you can’t be trusted.

Best place on meth
Member
Best place on meth

Because free speech sucks and everything is hate speech.

Fuck off, marxist.

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

What a joke….
Within 10 years you will see Richmond Council predominantly Chinese.
Till then..its pucker up and kiss sino- ass, …much like last 30 years.