Home sales continue to slide

Home sales in BC continue their decline.

“Sales fell 33.2 per cent compared to the same month a year ago, and the average residential price of $685,749 was down 1.1 per cent from September of 2017.”

“Association chief economist Cameron Muir says, “The impact on affordability and purchasing power caused by the mortgage stress test and moderately higher interest rates are negating the effect of the extraordinarily strong performance of B.C.’s economy over the last five years.”

Read the full article here.

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patriotz
Member

Good article on the late, great Vancouver. Does anyone else remember the White Lunch sign?

http://www.bbc.com/travel/story/20180503-north-americas-unexpected-neon-jungle

CRA221
Guest
CRA221

Wasn’t “White Lunch” racist? I thought it was named that because their cooks were “white” and not Chinese.

Apparently White Spot isn’t of the same thread, but relates to how white its counters were indicating that the restaurant was clean…..although I’m skeptical of that story for a restaurant that was founded in the 1920s……I’m sure there was some connotation.

Then again we do have car shares in Richmond that “do not take westerners” so other groups of people are not innocent in racism either.

patriotz
Member

” I thought (White Lunch) was named that because their cooks were “white” and not Chinese.”

That’s right. The irony is that the last surviving location on Hastings was taken over by Chinese.

According to Wiki Nat Bailey named White Spot after a restaurant in LA. Don’t know where the original got its name from.

CRA221
Guest
CRA221

https://martinturnbull.com/2015/11/28/the-white-spot-restaurant-5357-wilshire-blvd-los-angeles/

Looks like that’s a photo of the original LA one on Wiltshire Blvd.

I wonder about a restaurant with that name in the 1940s USA. California is very liberal these days, but I do wonder if in the 1940s there was any segregation (de facto or de jure) or if there was any connotation with the original white spot name.

Greg Brady
Guest
Greg Brady

So…..

Chinese restaurant with Chinese cook = okay
Indian restaurant with Indian cook = okay
Black Entertainment Television with Black actors = okay
White lunch with white cook = bad.

Sounds a little arbitrary. As long as they all serve everybody, all should be good.

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

You know of a Chinese or Indian restaurant which brands itself based on the ethnicity of its staff?

Best place on meth
Member
Best place on meth
Vancouver was such a cool city until the late 80’s when it started going down the crapper. But then something like this makes me wonder if the last three decades were just a horrible aberration of greed and stupidity, and there might still be some hope for this town. ” Walk along East Pender Street and you’ll come to Sai Woo, a nearly 100-year-old restaurant, restored and reopened in 2015 as part of the area’s ongoing gentrification. Here, the unmissable 3x2m neon cockerel advertising chop suey – paid for by a community-supported C$19,000 Kickstarter campaign – is just the start of a welcome revival. “We’re bringing the neon back,” owner Salli Pateman told me, while staring out at the two-sided gold-and-green cockerel sign. “It’s happening again, and a year from now there’ll be five or so more places with signs… Read more »
MAKE TRUDEAU A DRAMA TEACHER AGAIN!
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN!

“Association chief economist Cameron Muir says, “The impact on affordability and purchasing power caused by the mortgage stress test and moderately higher interest rates are negating the effect of the extraordinarily strong performance of B.C.’s economy over the last five years.””

Is it just me or does this sound like a whine?

xyz
Guest
xyz

What about the impact on affordability and purchasing power caused by high prices?

Dave
Member

On the way up, it was on the net, good for the economy. But after the peak, we will lose (or are feeling it now) a lot of that economic activity and have the overhang of the unnecessary debt. We’ll be feeling this problem for decades in my view. Christy Clark will have done more damage to our economy than anybody in history by the time this runs full course. On a side note, I once considered buying her former house in Port Moody.

Laibach
Member
Laibach

“Christy Clark will have done more damage to our economy than anybody in history”

Also and if not more damage to the society by favorizing, promoting, inviting and “settling” the worst corrupted scumbags, speculators and opportunists while selling their locust values and Tuhao culture as a great progress for BC.

Dave
Member
I’m with you on the first part (i.e. Clark was bad) but not the second. I think Chinese immigrants have also brought a lot of positive things to BC. They have a culture for working hard and achieving success. They make good kids and good citizens. For sure there are some growing pains with some of the first generation newcomers and some of the nouveau riche. I disagree with the PC crowd in that it’s reasonable to call out people for poor behaviour when are where it occurs, but on the net, I like Chinese immigrants. I also think it’s reasonable to say we’ve been allowing too many people to come here in too short a period of time. Our institutions haven’t been able to keep up and it’s caused a housing crisis that has been negative for locals, including… Read more »
Laibach
Member
Laibach

I agree with you, there is nothing wrong with Chinese as immigrants, workers, neighbors, etc. I am talking about people that came here to exploit the system, take advantage of everything (locust), launder and park money, speculate, flip, avoid taxes, get welfare while living in mansions and drive exotic cars regardless of being Chinese or not.

Best place on meth
Member
Best place on meth

You can’t possibly be ok with the type of rich immigrants from china that came through the Investor Program, these are the worst of the worst.

Just look at the mass passport and citizenship fraud committed by these awful scammers, there is a reason why they’re loaded and it’s not because they’re honest business people.

Laibach
Member
Laibach

Of course not, they should all get on “the boat”.

Oracle
Guest
Oracle

It must go full Trumo now in order to get some balance. Anything less won’t change a thing.

And “I” come first. My needs and then the rest. That’s how allmof Asia thinks.

So Full Trunp it must be.

Nomad
Guest
Nomad
Dude, thats everyone everywhere. Think of it this way, every time you eat, there is someone else will be left without food. Everything on this earth is designed that way. So if you don’t wanna make anyone feel bad then don’t live. Another simple example is stock trading. You are there to make profit. Making profit means your needs are first. When you do that, someone else is losing. If you wanna care about others, then you shouldn’t make profit. It is all same everywhere. It is only matter of how you show your daily activity. Can you explain your actions politely? or act polite? Chinese are just as same as us but without politeness and doesn’t know how to please strangers by their gesture or words. That is all there is to it. Some people here are disgusted with… Read more »
Oracle
Guest
Oracle

Those genes are here to stay. So unless one lies and cheats, it will be difficult for the honey to keep up.

Oracle
Guest
Oracle

Honest.

bullwhip29
Guest
bullwhip29

Residential real estate investors hoping to make a quick buck in Kitimat are running into veteran property owners who are jacking up prices as the largest private investment in Canadian history avalanches onto the town
https://biv.com/article/2018/10/landlord-investors-face-bidding-wars-kitimat

Best place on meth
Member
Best place on meth

I don’t believe this LNG fantasy in Kitimat will actually take place.

It doesn’t make any sense.

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29
MAKE TRUDEAU A DRAMA TEACHER AGAIN!
Guest
MAKE TRUDEAU A DRAMA TEACHER AGAIN!

They do and they should.

Hyper-mega-Bull
Member
Hyper-mega-Bull

Everyone loved Robertson. They loved the city. They loved his vision of the city. They loved it until THEY were the ones priced out. The ones who’s children had to move away. The ones that were negatively impacted by HAM. Then they turned on him. Robertson’s failure was not turning when the public turned.

Best place on meth
Member
Best place on meth

Vancouver has had many shitty mayors in recent history, and Bethune-Qu is no exception. I can’t think of one notable accomplishment that can be attributed to him.

Before his was that useless clown Sam Sullivan, and that other useless clown Larry Campbell, maybe Philip Owen was somewhat decent, but before him was the most useless clown of all Gordon Campbell.

This city and province has been blighted with terrible leadership, the only reason we’ve survived is our abundant resources that have mitigated some of the damage inflicted by corrupt and incompetent politicians.

Good riddance, Gregor.

Laibach
Member
Laibach

All listed fit the same profile of slimy asshole who is keen to suck up to highest bidder.

bullwhip29
Guest
bullwhip29

OneCity releases intentionally corny video with candidates singing along to parody of Trooper song
https://www.youtube.com/watch?v=CZpK-pwVMKA

CRA221
Guest
CRA221

Wow, I know who I’m NOT voting for after that cheesy display.

Best place on meth
Member
Best place on meth

For a low budget parody, I quite enjoyed it. Great song choice too.

The part that confused me was that I thought David Bowie was dead, but otherwise it was clever.

bullwhip29
Guest
bullwhip29

There has been a 32-per-cent increase in the number of Metro Vancouver families on B.C.’s housing registry since 2014. Sixty-one per cent of families on the housing registry are led by single parents, and about 87 per cent are led by women
https://theprovince.com/news/local-news/union-gospel-mission-ubc-release-report-on-homelessness-and-affordability/wcm/e475c4fe-0e50-4ef0-8242-cbb600d405bb

bullwhip29
Guest
bullwhip29

British Columbia DMO Courts Winter Tourists in Beijing
https://jingtravel.com/british-columbia-winter-tourists-beijing/

With almost half of Chinese tourists to Canada heading into British Columbia, Destination British Columbia (BC) is hoping to boost its winter tourist numbers again with a push for more experiential travel activities that cater to a younger demographic…

Doomcouver
Guest
Doomcouver

“experimental travel activities”
…. Running over bicyclists maybe? They seem to like that activity.

bullwhip29
Guest
bullwhip29
Laibach
Member
Laibach

“The stricter scrutiny is adding to fears of a slowdown in spending by China’s consumers, who account for two-thirds of the luxury market’s growth. ”

This was/is about the same ratio when it comes to Vancouver’s real estate. The same shit, trophies.

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

Chinese are getting fatter, this was bound to happen eventually.

Doomcouver
Guest
Doomcouver

They don’t call if “tofu construction” for nothing…. delicious…..

Canada is for Canadians
Guest
Canada is for Canadians

The bridge collapses and they just keep walking on it totally oblivious ….

bullwhip29
Guest
bullwhip29

Cambridge to split up ‘problem’ Chinese tour groups
https://www.bbc.com/news/uk-england-cambridgeshire-45799773

bullwhip29
Guest
bullwhip29

SCMP: Public anger in China spreading as property prices drop
https://www.scmp.com/news/china/society/article/2168025/public-anger-china-spreading-property-prices-drop

Sales are usually brisk at this time of year, but so far the figures are grim – and people who’ve already bought are protesting against price cuts…

BubbleTea
Guest
BubbleTea

Mark my words, it will be the housing bubble in China that will bring down the CCP. They know it and they are trying desperately to keep it inflated.

Doomcouver
Guest
Doomcouver

The CCP will survive they’ll just start rolling tanks over people that don’t like taking massive write-downs on their worthless empty homes. The iron fist is ever-present with the Chinese government; always ready to crush dissent. The real question you should ask yourself is will Canadian or Chinese real estate collapse first? I’d have bets on China, but I think it could go either way.

Laibach
Member
Laibach

Why? It is cheaper to print money and keep them fucking happy.

paulb
Member

New
221
Price Change
147
Sold
97
TI:13605

http://www.clivestevepaul.com

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

Oracle the increasing inventory must be blowing your mind!

Wow oh Wow!

Oracle
Guest
Oracle

Not really.

I need to see prices crash.

This cheering could all be over next month if the PR vote fails.

Best place on meth
Member
Best place on meth

Pre-sale buyers seem nervous, perhaps they’re facing a huge loss and unable to find anyone to take the units off their hands.

They are apparently “motivated!” and asking you to “bring an offer!”

https://www.mikestewart.ca/condos/

Doomcouver
Guest
Doomcouver

I’ll bring an offer. 95% off list price.

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

58.888888% below ask.

Take it or leave it.

bullwhip29
Guest
bullwhip29

Landlord shows off damage done by ‘bad tenants
https://globalnews.ca/video/4540151/landlord-shows-off-damage-done-by-bad-tenants/

>>> maybe it’s just me, but the first thing that came to mind was that owner staged this to make it look worse all in an effort to scam his insurance co

Doomcouver
Guest
Doomcouver

Maybe he should find another investment vehicle instead of trying to siphon money from the working class. I don’t feel sorry for these amateur landlords; they’re pulling housing out of the ownership pool to try and make a quick buck, and deserve any financial hardship they have coming their way in the coming recession.

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

So what about the working class who can’t afford to buy?

Canada is for Canadians
Guest
Canada is for Canadians

and they are driving up the R/E prices to boot ….

bullwhip29
Guest
bullwhip29

City of Richmond investigates vote-buying scandal on Chinese app
https://www.richmond-news.com/news/city-of-richmond-investigates-vote-buying-scandal-on-chinese-app-1.23461356

“To encourage people to take part in the municipal elections, the Canadian Association of Wenzhou Fellows will give a transportation subsidy of $20 for those who vote this year,”

The post went on to ask people to vote for Richmond incumbent councillor Chak Au, mayoral candidate Hong Guo, council candidate Peter Liu and Melissa Zhang, and five other candidates

“It was the original plan, but then we heard that this is illegal, so we corrected the post soon after….”

Doomcouver
Guest
Doomcouver

Didn’t know vote buying was illegal? Yeah right these crooks know it’s illegal. They just thought the English speaking media wouldn’t find out because it’s on their exclusionary Chinese only platform wechat.

bullwhip29
Guest
bullwhip29

A video is circulating on social media that shows a white SUV hitting another vehicle, mounting the curb, bursting through some bushes and narrowly avoiding a pedestrian in Richmond
https://www.richmond-news.com/news/video-suv-barely-misses-pedestrian-in-richmond-1.23461122

>>> just another typical day in Richmond…

Doomcouver
Guest
Doomcouver

‘He added that reckless driving is “becoming a regularity” in Richmond, and hopes city council takes steps to address the issue.’ — fat chance with the current Richmond City Hall. They couldn’t even fix the ALR fiasco or mandate some English signs in the city.

Canada for Canadians
Guest
Canada for Canadians

and yet no one can stand up and state the obvious because that would be ‘racist’ … how sad …

Oracle
Guest
Oracle

I can.

There are some factors at play here.

1). The cultures in Asia breed a ‘me only’ thinking pattern. So when on the road, it’s all about me. That’s why the disregard for others around you when driving. It seems as though the driver is oblivious to others because they are. This me attitude breeds big white SUVs and huge sprawling mansions on ALR as well.

2) you drive on the oppiosite side of the road. That confuses the hell out of me when I drive overseas. To compound matters further, the steering wheel is also on the other side.

Oracle
Guest
Oracle

3) people in Asia simply buy their licences. Icbc approves it here. Locals subsidize this.

bullwhip29
Guest
bullwhip29

4) if you wind up being one of the unlucky souls who ends up being run over by a porsche macan or range rover sporting an 888-licence plate, there isn’t even a space left for you to be buried as all plots have been scooped up too.

DaMann
Member
DaMann

God Richmond has turned into such a crap hole. I grew up there as a kid and I just can’t fathom what has happened. Even Steveston, the last ok part of Richmond will be finished off soon I’m sure. I never set foot in the place unless I’m flying somewhere. Disgraceful.

bullwhip29
Guest
bullwhip29

in 12-24 months steveston as we knew it will be gone. all the cafes, boutiques and other established businesses will be replaced by noodle houses, bubble tea shops and other sketchy nondescript storefronts which are rarely open for business. i must say that steveston pizza’s business is going gangbusters selling all those dragon and seenay pizzas (eaten with chopsticks) as if they were a side order of fries…

Nomad
Guest
Nomad

Or picking up UPS package

Oracle
Guest
Oracle

I noticed there is a lot of cheerleading going on at this site.

Just a question. What happens if the PR vote fails? Did we miss our chance because of the NDP inaction?

Dave
Member

Chance at what?

I gave the NDP credit when they took some action but I think we would be where we are if they hadn’t done those things. The Chinese money has dried up all over the World, interest rates have been going up all over and the B20 rules were from the Feds. Those are the three biggest factors and none have to do with the NDP.

Nobody is going to resurrect the market either.

I hope PR fails because it’s ridiculous.

Oracle
Guest
Oracle

Glad someone sees that it’s external actions that slowed this market down.

NDP hasn’t done jack all besides increasing the FBT by 5%. And then they increased exemptions to it if you pay tax here. Go figure.

For better or worse, this experiment will all be over in about a month. Only if they hadn’t lied about their ‘bold’ action and Weaver actually did something. Oh well.

Bag it and tag it
Member
Bag it and tag it
Why is PR ridiculous? It’s what they do all over Europe? Almost 2 decades of destruction of our province with the majority being held hostage by 39% popular support…now that’s ridiculous. If you happen to have 2 parties representing the same issues you get vote splitting…which is bad luck if you’re voting for one of those parties. Luck should not play into it. The only way the current system would work is if you have have multiple choices. IE. If your Green candidate is in 3rd place and you selected the NDP as your 2nd vote, then you’re NDP vote would be the active one. It’s crazy how undemocratic. For the record, the NDGreen coalition has done A LOT since being elected and everything they did represented the interests of the majority of BC voters. Compare that with the Liberals.… Read more »
MarKoz
Member

What if we had “Unexplained Wealth Orders” here?

“A woman who spent £16m at Harrods in a decade can now be identified as Zamira Hajiyeva – the first target for the UK’s new anti-corruption law.”

https://www.bbc.com/news/uk-45812210

M-
Member

I love the UWO concept, but the cynic in me says 98% of cases wound end with wealth from land/business deals in China which (on the surface) appear legitimate, or with the wealthy individual having been exceptionally lucky at the casino…

The nominally-legitimate land/business deals would probably require the other party to testify to their own corruption/bribery in the deal, which means that without some uninvolved person who knows and has evidence of what went on (and who didn’t get a payout in the process), it means on balance of probabilities, that the foreigner will be allowed to keep their “earned” wealth…

hashtag
Guest
hashtag

After denying HAM for years GRwgor now admits it:

“then we got walloped with the biggest influx of global capital really that any city had seen all at once.”

https://vancouversun.com/news/local-news/people-want-to-blame-me-outgoing-vancouver-mayor-gregor-robertson-reflects-on-10-years-in-office

Dave
Member

What an idiot, especially since his girlfriend was HAM.

These dummies were cheerleading the bubble all the way up. All those guys were saying high prices were a positive endorsement of the great city they built. They were all patting themselves on the back thinking people were willing to pay anything to live in such a great City. But the reality was that we were willing to sell the City out to foreign money.

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

He needs a scapegoat for his legacy being an extreme affordability crisis.

DaMann
Member
DaMann

He was also the same twat that started calling people racist if they brought up the issue of foreign money. Then turns around and says that the foreign money deluge has destroyed the city. Funny, his opinion turned after he sold his place ( thought he was probably selling at the top), only to find the market race on another 50% now he can’t buy again. Now all of a sudden foreign money is a problem. Guy should be shot

Dave
Member

He should be charged with treason along with Christy Clark for selling the Province out to a foreign government and conspiring to keep it secret.

Andrew Weaver should also be charged with treason for trying to bring in PR absent a referendum. Talk about complete distain for democracy.

patriotz
Member

Sorry but the Criminal Code defines what treason is, not you. Also provinces have the power to change the electoral system without a referendum. It’s happened before right in BC. Holding a referendum is just a courtesy.

Dave
Member

It meets my definition which is an unlawful overthrow of the government. We should change the Criminal Code and then charge him.

bullwhip29
Guest
bullwhip29

Residents are upset about signs appearing on their property, while candidates complain about those vanishing
https://www.richmond-news.com/election-2018/battle-over-election-signs-rages-in-richmond-1.23461513

>>> oh the shenanigans that go on in the dark of night in Richmond where doing whatever the F you please whenever the F you want seems to be widely accepted and possibly even encouraged by the new generation of thick skinned go-getters…

M-
Member

Hong Guo in the news again…

bullwhip29
Guest
bullwhip29

How Asian Social Media Transformed a Quiet U.K. Walking Spot

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

Talk in Kyrgyzstan of allowing tourists from China to visit without obtaining a visa has ignited heated public debate
https://eurasianet.org/kyrgyzstan-talk-of-visa-waiver-for-chinese-tourists-sparks-ire

bullwhip29
Guest
bullwhip29

West Australian bus operator Adams Perth has partnered with Aus Highway travel to deliver Chinese-speaking trips via a new joint venture: Ni Hao WA Tours
https://www.busnews.com.au/industry-news/1810/leading-wa-bus-operator-to-offer-bespoke-chinese-speaking-tours

bullwhip29
Guest
bullwhip29

A Chinese property developer was sentenced to at least two-and-a-half years in jail by an Australian court on Friday for non-consensual intercourse with a woman after a Sydney dinner party hosted by billionaire JD.com-founder Richard Liu
https://www.scmp.com/news/asia/australasia/article/2168378/chinese-developer-sentenced-jail-australia-sexual-assault