Friday Free-for-all! September 21st, 2018

It’s the end of another work week and that means it’s time for another Friday free-for-all!

So what are you seeing out there?

Post your news links, thoughts and anecdotes in the comments below and have a fantastic weekend!

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patriotz
Member

https://www.theglobeandmail.com/canada/british-columbia/article-vancouver-to-allow-duplexes-on-most-single-family-lots-as-city-seeks/

“It isn’t as big a change as it would be in other cities, because Vancouver already allows anyone with a lot zoned for single-family houses to have a basement suite and a laneway house. People who build duplexes will actually be permitted less buildable space than those who stick with the house/laneway/secondary-suite configuration. ”

The City already allows laneway houses to be sold through a strata. This and the lower FSR for duplexes lead me to think that the zoning change will not support higher prices. One thing that’s missing from the reporting is whether the City will allow the lot to be divided so that the two halves can be sold separately without a strata.

YVR
Guest
YVR

Of course the 2 seperate duplexes will be sold separately. This is a big change because it is two smaller mortgages required rather than one large one that few can qualify for.

Oracle
Guest
Oracle

Plus 3 stories above ground.

xhistory
Guest
xhistory

Living space on top of the roof is not traditionally a Canadian value, because of the rain and or cold. But that doesn’t stop an Asian in seeing the potential, plus the justification for breeding more

patriotz
Member

“Of course the 2 seperate duplexes will be sold separately.”

Of course they will. The issue, which I pointed out clearly, is whether the City will allow the lot to be split in two so they can be sold separately without a strata.. A lot is the smallest unit of property that can be sold. You can’t just sell it piecemeal. There are plenty of strata duplexes in Vancouver right now due to this issue.

Oracle
Guest
Oracle

Notice how patriotz rushes in to confuse. Of course a duplex can each be sold separately with its own land. But you already know that.

Laibach
Member
Laibach

“Of course a duplex can each be sold separately with its own land.”

Can you then tear down a half of the duplex and build another duplex instead, perhaps 4 stories above the ground? Basically, you double the value of one half of the first duplex and quadruple the value of the single-family house.

Ralph
Guest
Ralph

Here’s a list August inflation rates for Canadian provinces, territories
The Canadian Press, at 08:09 on September 21, 2018

OTTAWA – Canada’s national annual inflation rate was 2.8 per cent in August, Statistics Canada says. Here’s what happened in the provinces (previous month in brackets):

— Newfoundland and Labrador: 2.5 per cent (2.7)
— Prince Edward Island: 3.0 (3.4)
— Nova Scotia: 2.7 (2.7)
— New Brunswick: 2.6 (2.7)
— Quebec: 2.2 (2.4)
— Ontario: 3.1 (3.1)
— Manitoba: 2.9 (3.3)
— Saskatchewan: 2.2 (3.1)
— Alberta: 3.1 (3.5)
— British Columbia: 2.9 (3.3)

Ralph
Guest
Ralph

Here’s a list of August inflation rates for selected Canadian cities
The Canadian Press, at 08:09 on September 21, 2018

OTTAWA – Canada’s national annual inflation rate was 2.8 per cent in August, Statistics Canada says. The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets):

— St. John’s, N.L.: 2.4 per cent (2.4)
— Charlottetown-Summerside: 3.1 (3.6)
— Halifax: 2.7 (2.5)
— Saint John, N.B.: 2.6 (2.7)
— Quebec: 1.8 (1.8)
— Montreal: 2.0 (2.2)
— Ottawa: 3.2 (3.2)
— Toronto: 3.1 (3.0)
— Thunder Bay, Ont.: 2.7 (2.5)
— Winnipeg: 2.8 (3.2)
— Regina: 2.1 (3.3)
— Saskatoon: 2.0 (3.1)
— Edmonton: 3.4 (3.8)
— Calgary: 3.0 (3.3)
— Vancouver: 2.8 (3.3)
— Victoria: 2.5 (2.6)

Ralph
Guest
Ralph
Inflation eases to 2.8% as gas price growth slows; core numbers creeps up Andy Blatchford, The Canadian Press, at 08:09 on September 21, 2018 OTTAWA – The country’s annual inflation rate eased to 2.8 per cent in August as still-rising gasoline prices advanced at a more-moderate pace, Statistics Canada said Friday. The agency’s latest number came in just below the previous month’s three per cent reading, which had pushed inflation to the top end of the Bank of Canada’s target range with the fastest price growth in seven years. The August result matched the expectations of economists, according to Thomson Reuters Eikon. Year-over-year pump prices rose 19.9 per cent in August, compared with a 25.4 per cent increase in July. Excluding gas prices, the inflation rate was 2.2 per cent last month. The August reading stayed above the mid-point of… Read more »
Dave
Member

That pretty much guarantees another rate increase soon, which lets more air out of the housing bubble. I think the Bank of Canada will still be reluctant to move too quickly because they fear a major bubble pop. That’s why I’m bearish on the Canadian dollar. I think we fall further and further back from their increases. Their economy is growing strong with the tax cuts and unemployment is at record lows there, which should be inflationary soon.

I think the next recession will be unkind to Canada.

Bag it and tag it
Member
Bag it and tag it

Nothing guarantees a rate hike with Poloz calling the shots..

southseacompany
Member
southseacompany

“Homeowners feeling the sting of rising interest rates”, Vancouver Courier

https://www.vancourier.com/real-estate/homeowners-feeling-the-sting-of-rising-interest-rates-1.23434933

“In its nationwide WealthScapes 2018 report, the researchers found that the effects of rising interest rates were particularly acute in Metro Vancouver, where the average household incurred an additional $1,152 in interest charges in 2017.”

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

People who took out mortgages at record low interest rates should have fully expected this eventuality. They should have been thankful for the free money sub 3% 5 yr. and put a little something away for the future.

Of course that never happened. They simply bought more house with the savings.

Rates are going higher.

Best place on meth
Member
Best place on meth

This is the first time in 35 years that mortgage holders renewing are facing higher interest rates than they paid 5 years prior.

2 generations have no idea that rates can go up, they’ve never seen it before.

southseacompany
Member
southseacompany

“NYC Home Sellers Are Cutting Prices Like It’s 2009—And Then Some”, Bloomberg

https://www.bloomberg.com/news/articles/2018-09-21/nyc-home-sellers-cutting-prices-like-it-s-2009-and-then-some

“New York City’s home sellers, tired of waiting for buyers, slashed prices on almost 800 listings in a single week this month, the most in at least 12 years”

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

But….

Best city in the world
Low taxes
Tons of high paying jobs
Hemmed in by ocean
Not making any more land
Everyone wants to be there

Prices could NEVER go down. This must be fake news,

southseacompany
Member
southseacompany

“Experts warn of ‘debt bomb’ as housing downturn worsens”, news.com.au

https://www.news.com.au/finance/real-estate/buying/experts-warn-of-debt-bomb-as-housing-downturn-worsens/news-story/6006ca1cc5771c53e3bfac1c07dbd176

“EXPERTS have issued a grim warning for homeowners, claiming up to two-fifths of your home’s worth could be wiped out in 2019.”

southseacompany
Member
southseacompany

“Bricks and slaughter: Part one – Exposing Australia’s housing crisis | 60 Minutes Australia”

https://www.youtube.com/watch?v=smPR0s2W-Ck

“It’s no secret that Australia is experiencing a downturn in the property market. But for Aussies who own their own home or have a mortgage, there’s worse news. Many believe calling it a downturn is foolishly optimistic – the slump we are in is more like falling off a cliff. On 60 MINUTES, Tom Steinfort speaks with real estate and finance experts who predict property prices could slide by as much as 40 per cent in the next year”

southseacompany
Member
southseacompany

‘As Perth property prices tumble, even real estate agents are selling out of the market”, ABC News

http://www.abc.net.au/news/2018-09-18/the-real-estate-agent-who-has-sold-out-of-the-perth-market/10247652

“You know things are tough in the property market when a seasoned real estate agent sells his own family home and chooses to rent instead.’

Ralph
Guest
Ralph

“You know things are tough in the property market when a seasoned real estate agent sells his own family home and chooses to rent instead.’

This is happening here too. Owen Bigland alluded to a real estate agent he knows who sold their house and is renting now because they believe the market is about to crash, but that same agent is still advising their clients to buy properties….

Best place on meth
Member
Best place on meth

Well of course, they live off commissions.

No buyers means no income.

bullwhip29
Guest
bullwhip29

there always seems to be a Vancouver connection…

Millionaire fugitive accused of murdering wife may be hiding in Canada
https://www.ctvnews.ca/canada/millionaire-fugitive-accused-of-murdering-wife-may-be-hiding-in-canada-1.4103674

bullwhip29
Guest
bullwhip29

Burnaby residents told they won’t be able to park on their own street
https://www.vancourier.com/burnaby-residents-told-they-won-t-be-able-to-park-on-their-own-street-1.23437916

Ralph
Guest
Ralph

“New parking rules that one Burnaby man feared would slash his property value by hundreds of thousands of dollars…”

well this is the bottom line isn’t it ?

Laibach
Member
Laibach

Of course, property values are sacral in Vancouver, much more sacral than actual properties.

bullwhip29
Guest
bullwhip29

Emily Yu, the North Vancouver woman accused of running a hostel out of her Central Lonsdale townhouse is pushing back against the city’s attempt to have her shut down
https://www.vancourier.com/short-term-rental-owner-fights-north-van-city-lawsuit-1.23438023

bullwhip29
Guest
bullwhip29

Chinese investors claim they are $13 million out of pocket after a $40 million Richmond development deal, involving Richmond mayoral candidate Hong Guo, turned sour
https://www.richmond-news.com/news/exclusive-richmond-mayoral-candidate-hong-guo-faces-new-legal-allegations-1.23436524

bullwhip29
Guest
bullwhip29

SCMP: Looming vacancy tax is prying long-held flats from Hong Kong developers who kept them locked away for future appreciation riches
https://www.scmp.com/business/companies/article/2165220/looming-vacancy-tax-prying-long-held-flats-hong-kong-developers

Developers have sold 1,677 empty flats – some luxury ones held empty for more than a decade – in a scramble to avoid paying a big penalty. That is 12 per cent of all flats sold in a 10-week period

bullwhip29
Guest
bullwhip29

CBC: Wealthy would-be immigrants told to lie about their assets, intentions — even their identity
https://www.cbc.ca/news/canada/quebec-immigrant-investor-consultants-hidden-camera-1.4832245

Laibach
Member
Laibach

If this is even news then it is certainly racist. Cheating, lying, tax evading, scamming are all part of the immigration process combined with national identity and culture hence all parties involved were doing what they were supposed to do. How else you can get rich and move to Canada?

Ralph
Guest
Ralph

These make real upstanding citizens with their cheating, lying, tax evading, and scamming and we sure need these types here in Canada …

Oracle
Guest
Oracle

They are already here. Good luck to your kids when they have to complete with these folks.

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

Lucky for our kids that you will never find someone to procreate with.

bullwhip29
Guest
bullwhip29

Eerily empty Calgary mall postpones grand opening
https://globalnews.ca/news/4473734/calgary-new-horizon-mall-empty/

kabloona
Member
kabloona

“The New Horizon Mall is modelled on The Torgan Group’s Pacific Mall in the Toronto area that opened about 20 years ago…”

It should be a great place to score bootleg DVDs and knock-off handbags!!!!

😀

xyz
Guest
xyz

Might as well buy some boots while they’re at it…

Calgarians were not impressed with Wednesday’s snowfall

http://dailyhive.com/calgary/wednesday-snowfall-twitter-reactions-september-2018

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

Mall needs to become better destination theme for foreign locusts.

Maybe have Commie Chinese” leader- for -life” cut ribbon…then have execution combined with organ harvesting contest(or vice versa).

Money laundering tips….

Chinese drivers in snow race….

SIDA can open another Sino – apologist booth.

etc. etc.

Just me
Guest
Just me

Wealthy would-be immigrants told to lie about their assets, intentions — even their identity

https://www.cbc.ca/news/canada/quebec-immigrant-investor-consultants-hidden-camera-1.4832245

“Hidden cameras capture advisers giving out questionable guidance to people seeking Canadian visas”

Just me
Guest
Just me

“Rich foreigners seeking to gain Canadian residency through a controversial Quebec program are being advised to hide questionable assets, lie about their intention to settle in the province and even adopt a new identity, according to a hidden-camera investigation by Radio-Canada.

The investigation revealed that immigration advisers have counselled clients to do things such as change their name, shift funds to accounts in the Caribbean and not declare them to tax authorities or immigration agents.

“We have a lot of clients who have a lot of assets who do this,” said one consultant at one of the biggest firms in the industry in a conversation captured on hidden camera.”

Just me
Guest
Just me

“Last year alone, more than 5,000 people obtained permanent residency through the program. Typically, two-thirds of those accepted each year come from mainland China. However, most successful applicants through the Quebec program don’t actually settle in the province.”

Just me
Guest
Just me

“We’ve helped clients with even greyer areas,” said an agent at Globevisa, one of the biggest immigrant-investor consultancies in the world.

“We have seven passports. These are all legal. Two are European identities, others are Caribbean — there are five. Those are simply to get an identity in case you have to flee or if you want to hide your assets,” said the consultant, who didn’t know she was being recorded.”

VanRant
Member
VanRant

“You change your name to Bruce Lee. You can use this Bruce Lee identity to hold this. They won’t be able to check,” the agent said.

Laibach
Member
Laibach

That statement nicely sums it up what they think of Canadians and how much respect they have.

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

That is an insult to Bruce Lee.

Best place on meth
Member
Best place on meth

A brief summary of the chinese immigrant behaviour cited:

hide
lie
change identity
evade taxes
not declare assets
commit fraud, commit fraud, commit fraud, commit fraud, commit fraud, commit fraud

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

SIDA?

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

This is getting boring. Ok, you want me to comment. Not that there’s any evidence you actually listen.

Those who commit immigration fraud no matter their nationality should be deported, and citizenship revoked where applicable. Future entry to Canada may only be via application through the courts and is not guaranteed.

However, implying that this behaviour is somehow characteristic of a billion plus people makes you a dumb fuck racist.

Any questions?

Best place on meth
Member
Best place on meth

“Those who commit immigration fraud no matter their nationality should be deported, and citizenship revoked where applicable. ”

So you agree we should deport 99.9% of all wealthy immigrants from china who came here via both investor programs.

Specuskeptic
Member

To be fair, the one official in Quebec said it was as high as 95% on the Quebec end…. (see https://www.youtube.com/watch?v=NIq1nMWRIG4)

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

Read it again, but pay particular attention to the final paragraph.

Specuskeptic
Member

Here’s some film to go with that story.
https://www.youtube.com/watch?v=NIq1nMWRIG4
“Golden Visas”

Hyper-mega-Bull
Member
Hyper-mega-Bull
KickThemOut
Member
KickThemOut

China sanctioned again – https://www.zerohedge.com/news/2018-09-21/china-threatens-retaliation-against-us-over-military-sanctions

When will China learn that to be part of the civilized world, it needs to do things the civilized way and not have dealings with pariahs like Russia & Putin who are the anti-thesis of civilized? Furthermore more, China needs to stop its aggression and stop placing itself so close to so many US bases on purpose and threaten global freedom and democracy. How does China expect US to react when it position itself so aggressively, right on US and rest of the free world’s door steps?

M-
Member

China doesn’t want to be “part of the civilized world.” They think they’re more civilized than we are; we’re too soft. Money should be everything. Money IS everything. China wants to make as much money as they can, from whoever they can.

Civility doesn’t enter into the equation.

Lost...but not leased
Guest
Lost...but not leased
Watched a documentary on China and its current position as top surveillance country in world. Millions of cameras in public using facial recognition technology etc .etc.. EVERYTHING you do is recorded by the state..and the state gives you have a “social credit’ rating..TOP SCORE IS 800. They interviewed a Chinese lady who is self- employed in marketing and married to a civil servant. Her score is around 770…she does everything on- line aka big brother watches her every move. She is actually proud of her score and wants to do better ….WTF ? Then they interview a Chinese investigative journalist who exposed corruption and is being harrassed by gov’t via his privileges are denied…ie he tries to obtain a train pass on- line to another city but is denied. basically he is a prisoner…quasi enemy of the state. Then they… Read more »
Ralph
Guest
Ralph

“Money should be everything”
“Civility doesn’t enter into the equation.”

This doesn’t sound like progress to me …

Ralph
Guest
Ralph

https://www.citynews1130.com/2018/09/20/long-time-former-trustee-defends-lgbtq-views-makes-another-run/

“Back in 2014, Ken Denike and Sophia Woo held a news conference to suggest implementing an updated LGBTQ policy was going to impact real estate. They insisted real estate agents were worried the policy would deter foreigners from moving to Vancouver.”

it always goes back to foreigners buyers and real estate… what a mess we have become.

Laibach
Member
Laibach
KickThemOut
Member
KickThemOut

Fuck this blog is turning into a spam infested shithole faster than a BPOM AIDS sore. geez..I guess bears have absolutely nothing left to contribute except useless spam links. And they claim to be well adjusted…what a joke!

Laibach
Member
Laibach

Spacefuck, have you changed a medicine or just run out of it?

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

Someone just cut the price of his listing by 20%…

Oracle
Guest
Oracle

Chinese immigration investigation of QIIP by CBC.

You buy immigration, you get multiple passport for multiple identity. All legal passports. How do they get those? Corrupt people like Patriots maybe?

Told you guys so.

And took me a while to convince you about deals way under assessment and cash exchanging hands overseas. So convincing you about multiple identities will take a while.

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

Re: duplexes

They are the initial level of ” strata”.

Everything outside each of the (2) residences is common area.
Old style ” side- by- side” duplexes had back yards,…side yards……. front yards.

The residents would often deal with what they assumed was “their 1/2” ( ie 1/2 roof, 1/2 back yard, 1/2 front yard, one side yard etc, )when “legally ” they could access the whole outside property.

Most, however, simply take care of and occupy one half via an imaginary line that bisects the property and home via shared wall.

My experience is in places outside Vancouver is that many 2 storey duplexes have been converted into four rental suites.

Oracle
Guest
Oracle

Is anyone witnessing he incredible land rush going on for 5 acre parcels in ALR land. Everyone and their grandmother has applied for mansions on the properties.

NDP allowed this shitshow. They could have ended his last year. They will stop it when all ALR land had grandfathered mansion permits.

And you minions will cheer this when NDP announces a stop.

Who’s the imbeciles here?

Doomcouver
Guest
Doomcouver

They need better rules around how much farming you actually need to do to get the tax incentives. The hobby blueberry farms around Richmond aren’t doing much to protect our food supply, yet they’re getting special tax status that we’re all paying for.

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

ALR is in gridlock…..

Large numbers of ALR parcels are not farmed via no economic viability…..versus many use the Farm Status designation to reduce property taxes which is 100% legal.

Gov’t doesn’t dare change this gridlock, as to do otherwise set in motion lawsuits that will bankrupt BC.

In the end, everyone loses, which is the trademark of most NDP policies.

Doomcouver
Guest
Doomcouver

I can’t see how the ALR is even worth saving at this point. If they’re not going to start kicking out the owners of the palatial mansions that do no farming, scrap ALR zoning altogether. The Great Canadian Housing Crash will devalue land enough that farming will probably be viable on non-ALR land in another decade or two anyways.

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

ALR is simply another NDP scam.

Anyone that thinks it equates with food security needs to be institutionalized…..suckers….

ALR simply plays into hands of developers who benefit from artificial scarcity of land(aka higher land prices) and without compensation of stolen property rights.

ALR exists solely because it would otherwise bankrupt BC with long overdue lawsuits.

Dave
Member

Exactly. The rationale for ALR makes no sense to me. The food security argument is ridiculous considering Canada has a farm the size of Europe east of the Rockies. I think it’s one of those policies that will live on, not unlike marijuana laws. If you discussed pot with pretty much anybody, they would acknowledge it should be legal, including politicians (of all stripes). Yet, it took decades for change to occur.

It’s not a benefit to developers because they simply pass on the cost of building a condo. They’d do just fine if we increased the land base (assumed a gradual change).

In the meantime, we’ll ignore the most obvious solution to the housing crisis.

YVR
Guest
YVR

“ALR is simply another NDP scam.”

Yup, just another failed NDP policy. As stated it does nothing for our food supply. Most of cranberries, corn and berries get canned or frozen. The only reason anyone farms is to hold the land waiting for government to rezone so they can sell and cash in. When the government is ready to rezone an insider goes in and buys it first. Completely abolishing the ALR would collapse land prices overnight.

Dave
Member

I say let them build mansions. Build a hotel for all I care. More rooms is good for a housing crisis.

Bag it and tag it
Member
Bag it and tag it

“Who’s the imbecile here?”
Pretty sure we all know. Hint: he claims to have a really really high IQ

Oracle
Guest
Oracle

The few ‘we’ who think they’ve outsmarted the market. Keep your views in this corner of the internet.

Lost...but not leased
Guest
Lost...but not leased
Re: ALR and outbreak of blueberry farms Blueberry farms in the past were relegated to crappy peat soils. Better soils were historically used to grow a variety of vegetables. Nowadays? even the better soils are increasingly converted to blueberries. WHY? Farm Status allows 5 year windows for crop conversion..ie replant and 5 year window before harvest = Farm Status granted . Other crops can’t compete with imports…so farmers use Farm Status as a means to avoid high taxes that would otherwise accrue. EXAMPLE: if a farmer has over 2 acres, and has farm receipts of $2500, his entire farm achieves farm status..which results in dramatically lower property taxes. There are numerous ALR parcels less than 2 acres that require $10,000 in farm receipts to acquire farm status aka impossible. Many REAL farmers will say one needs a minimum 50 acres… Read more »