Next price uptick in 2021?

Central 1 credit union is forecasting further big drops in sales and a “marshmallow soft” market for the next few years.

The province’s median home resale price across the year is expected to decline 4.1 per cent in 2019, then a further 1.2 per cent in 2020. This will be followed by the most meagre of recoveries in 2021 with a 1 per cent rise, which doesn’t even bring the median back to 2019 prices.

The biggest short- to medium-term price declines are expected, unsurprisingly, in Metro Vancouver, said Yu – but this could be what puts the market back on track in the longer term.

“In Metro Vancouver, on a benchmark basis, prices are down around eight per cent and we’re expecting that to fall further, giving us a total peak-to-trough decline of about 12 to 15 per cent. So that will erase a lot of the gains we saw from 2016 onwards. But this should pull some people back into the market.

Read the full article here.

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bullwhip29
Guest
bullwhip29

Chinese ex-husband’s 1% stake in home leads to foreign buyers tax battle
https://www.cbc.ca/news/canada/british-columbia/foreign-buyers-tax-real-estate-1.5154415

Laibach
Member
Laibach

Rats and their usual procedure, a) smuggling; b) laundering; c) flipping; d) parking; e) tax evading d) playing dumb – not speaking English; Yet another classic story from BPOE…

“You identified in a phone conversation with a colleague that some of the payment was made by Sixun and then changed the story to that you had borrowed some of these funds from your sister,” de Wynter wrote. “Please clarify the situation with support for the transactions.”
The house was sold last summer for $1.42 million. The correspondence notes that Yang has since purchased another home in Richmond for $2 million — but with no guarantor.
In her notice of civil claim, Yang says her first language is Mandarin and she has trouble comprehending and communicating in English.

Laibach
Member
Laibach

Ah, forgot to mention – f) lying;

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

Well, actually I am impressed that the Gov’t is not only doing something…it has some set of tools that are catching parties that in past times would have either been ignored or gone undetected.

Obviously foreign locusts are not immune.

Simple Solution
Member
Simple Solution

the old “no english” defense…. RACISM!!!

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)
Quote/s: Zi Yang filed a B.C. Supreme Court lawsuit this month in a bid to fight a $237,000 bill for tax the B.C. Ministry of Finance claims is owing on the 2017 purchase of her Richmond home. ======== According to the court documents, Yang even paid the $2,400 that she calculated should be owing on her husband’s one per cent slice of the home, which cost them $1.6 million. ========== The house was sold last summer for $1.42 million. The correspondence notes that Yang has since purchased another home in Richmond for $2 million — but with no guarantor. ================================== What’s going on ? BOUGHT in 2017 for $1.6 Million SOLD in 2018 for $1.42 Million = $ 180,000 LOSS ( plus other costs ie commission ) What was the hurry to sell after one year and guarantee a loss… Read more »
Oracle
Guest
Oracle

The White Supremacy Syndrome works in reverse. The whites basically bought the Mainlanders naive excuse. Now theyvrealizing they played for fools.

Oracle
Guest
Oracle

Hahaha. The acting naive excuse.

Whites will buy it.

Oracle
Guest
Oracle

Because of “white supremacist innate feelings?” ?????

White power
Guest
White power

That’s right. We need to purify Canada of those chink vermin from within. We the chosen whites need to reestablish our dominate place in the world by showing those vermin their own innards.
kill all chinks whenever you see one, before they stain the purity of white Aryan any further. 14/88 brothers.

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

Why should the tax apply in its entirety here? Because you want it to?

Laibach
Member
Laibach

It is a regular scam. She was providing PR and husbah money, foreign money perhaps dirty to be laundered. Beside obvious scam, she was caught lying. Who knows how much money got laundered/parked this way through PRs and other bogus locals over all these years but apparently enough to make total housing fubar here. They should not only pay tax but after that deported without return. Enough of that shit with them and their shoddy combinations.

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

What is it with this 1% ownership ??

I know another party who was telling me about her Chinese neighbour , who owns the house next door.
He’s in his 20’s …and told her his grandfather owns 1% of the home.

Some loophole being exploited ?

Oracle
Guest
Oracle

I think it’s to do with adding and removing names from title.

There is no linking to CRA or any tax authority at present.

The 1% is an out. I have a buddy who has a 1% stake along with his wife. He says he can save cap gains on sale eventually. I said how?

He winked.

Any ideas?

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

An obvious scam that you’re completely unable to explain? Got it.

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

Where did I say scam ?

FYI : here is the quote…
” Some loophole being exploited ? “

patriotz
Member

Answer right in the article. In other words, the government is claiming that she was acting as a front for her husband.

“”Although you are not a foreign national, evidence suggested that you were holding a portion of the property in trust for a foreign national,” wrote Finance Ministry auditor Devon de Wynter.”

Laibach
Member
Laibach

Exactly what I said “She was providing PR and husbah money” but favorite clown doesn’t get it.

YVR
Guest
YVR

You will need to convert the article to mandarin for SIDA to understand it. He can’t read English.

eastender
Member
eastender

I don’t understand why they bothered with 1% foreign ownership in the first place. Without that 1% she would have stayed under the radar flipping homes for as long as needed, without getting any attention from CRA, it would be a typical case: astronaut dad, no local income, “family support” money from abroad, all 100% legal.

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

1% ???

I’ve been trying to look into it….my guess is it acts like a” lien.”…some sort of security re: the home so it can’t be sold until the “1 % owner ” sign off….

Concurrently this 1% owner is often the major investor ??? and hopes they can stay under the radar screen…however, maybe the Gov’t has caught onto this trick ???

Oracle
Guest
Oracle

For adding and removing names from title. And then reporting to tax authorities on sale or something.

I know many people who add and remove names on title to suit the situation. Tax authorities have no idea. Hahaha

YVR
Guest
YVR

The 1% ownership makes it so the property cannot be sold/transferred without his consent. Keep in mind locust will rip off anyone even their own family members.

Best place on meth
Member
Best place on meth

Since we’re now at war with these vermin (we finally realized they’ve been waging war against us for years), perhaps it’s time for another “Chinese Exclusion Act”.

Not against anyone of chinese descent, but against despicable PRC nationals only.

Kill all chinks
Guest
Kill all chinks

I love the blatant racism here. Let’s just start a race war and race riot, drag them Chinks out of their homes and butcher them by the droves.

This will surely resolve the problem, am I right?

Best place on meth
Member
Best place on meth

Wrong, race baiter.

I made it quite clear this is a war against an incredibly evil nation who wish to do us harm, not against a race of people.

Those with allegiance to the motherland despise us.

White power
Guest
White power

That’s where you’re wrong. If you are saying those chinks are even capable of understanding civility then you’re either ingnroant or just a race traitor.

Kill those damn chinks, all of them. A race war in inevitable. For the purity of the world. 18/44 HH brother.

White power
Guest
White power

I agree 100%. All chinks and gooks are evil and should be exterminated. Canada has been to lenient on them vermins. I say we need to wage a holy race war and purify Canada from those damn chinks and niggers. 14/88 brother, “We must secure the existence of our people and a future for white children”

Stewart Werner
Guest
Stewart Werner

The report is a deceptive sales pitch ;it basically says prices will drop a tiny bit before rebounding, BUT buy now or be forever priced out.
Has Yu ever accurately forecasted price on the upside or downside?

Dave
Member

Central 1 have the second best track record.

MTADTA
Guest
MTADTA

Dave how are you feeling about the market?

A house on my street in Kerrsidale was recently completed and I thought it was a move in but I saw the staging trucks arrive.

It will be very interesting to see what it goes for.

Dave
Member
I’m still bearish. I think the market will continue to decline and I think the statistics will continue to worsen. I think the crash disaster scenario is becoming less and less likely because we’re not getting the inventory growth needed for that and the economy is still somehow hanging on. In my view, real estate corrections are typically short lived and this correction is getting pretty old already. I don’t think we’re going to get a recovery this year, but I think it’s possible for Spring 2020. While I think the market stats are headed down, a person doesn’t buy the market. Rather, they buy the product they buy. And from that perspective, I think there have been a lot of great deals this Spring. If I could pick and choose some of those deals, I would take them. I’m… Read more »
Bag it and tag it
Member
Bag it and tag it

Typical vested interest forecasting saying what they have to in attempt to prevent a crash by assuring potential sellers it will work out if they simply hold on and stay the course.

Canada is for Canadians
Guest
Canada is for Canadians

and my barber says I need a haircut and he’d better do it soon or it’ll be too late …

Hyper-mega-Bull
Member
Hyper-mega-Bull

not getting your hair cut will work out as well for you as not buying a house did.

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

Your barber has 10 chairs, but one of them has a Chinese dude in it. You should totally blame him for not being able to get an appointment.

Hyper-mega-Bull
Member
Hyper-mega-Bull

is it cash only?

Best place on meth
Member
Best place on meth

Worst…analogy…ever….

Congrats to YVR for slipping to second place.

White power
Guest
White power

I agree brother. Those damn vermins is polluting out air. We need to exterminate them all.
Canada and it’s weak “leaders” has been spilling white blood to tiptoe around the Chinese infection and see where this has lead us to. White power. HH

Hyper-mega-Bull
Member
Hyper-mega-Bull

Is the Global Tide Turning Against China?

The CCP’s tactics have been exposed! Clive Hamilton, author of Silent Invasion: China’s Influence in Australia, sits down with us to discuss how governments around the world are tackling China’s attempts to undermine democracy. Featuring US China trade war, President Donald Trump, Huawei, New Zealand and Canada, and what the future holds.

https://www.youtube.com/watch?v=714P0hh-L0c

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

Depends on which way the foreign locust fly..

On the one hand….Wealthy Chinese , we are told..simply want a safe haven for their ill gotten gains ???…..THEN we are told the pendulum has swung and Chinese Gov’t wants to stop the outflow of capital ???.

Which is it ?

IMHO…the Wealthy Chinese role have always been as invaders/ “weaponized economic soldiers”…follow Beijing directive to infiltrate countries and their economies and leave them addicted to Chinese money and primed for a collapse =less bloody than outright war but just as devastating. Ultimately, these foreign locusts are leaving devastation in their wake…all by Beijing design, and NOT Beijing whims.

Best place on meth
Member
Best place on meth

Everyone hates those fucking scumbags now.

The world is becoming a better place.

White power
Guest
White power

Yes those damn chinks. Kill them all. For purity of white nations around the world.
Kill the gooks and chinks in droves. Drag them out of their homes and slaughter then on the street like the vermins they are.
We the chosen white people need to reestablish our supremacy as the master race on Earth and teach those scums who are the real masters. Put them back into the coal mines and raid ways ad kill the rest.

14/88, HH brothers. For the purity of our children, chinks must be exterminated.

bullwhip29
Guest
bullwhip29
bullwhip29
Guest
bullwhip29

Alleged Canada real estate tax cheat for Chinese buyers described in Vancouver legal action

bullwhip29
Guest
bullwhip29
Shit It Down Already(Original)
Guest
Shit It Down Already(Original)
bullwhip29 ….Just caught this on line ..same link: https://www.scmp.com/news/china/money-wealth/article/3012527/alleged-canada-real-estate-tax-cheat-chinese-buyers QUOTE A “for sale” sign stands outside a home listed by Maxcel Realty’s Kathy Xu in Vancouver, British Columbia. Photo: Ian Young An alleged scheme to allow Vancouver’s mostly Chinese foreign buyers to avoid tax on real estate purchases has been revealed by the disintegration of a business partnership involving some of the Canadian city’s top property agents. Under the supposed scheme, described in British Columbia Supreme Court legal action, buyers and sellers who were both based overseas would understate the amount being paid for a property and exchange only that portion in BC – thus reducing the buyer’s property transfer tax – while the remainder of the true price would change hands outside Canada. If true, such an arrangement could also help buyers of Canadian real estate dodge China’s cash… Read more »
MTADTA
Guest
MTADTA

These Realtors should go to jail for defrauding the Canadian govt. Not just a $5k fine which is likely.

If this was the US they would. This is 10x’s worse that the college admissions scandal and some of those people are facing jail time.

Best place on meth
Member
Best place on meth

Jail is a waste of time, they need to go back.

If they have citizenship, strip them of it.

White power
Guest
White power

Better yet, just kill them right there on the street. Wipe the stain away from the Earth.

Best place on meth
Member
Best place on meth

Fuck I hate race baiters so much.

I’d like to wipe your kind off the face of the earth.

Best place on meth
Member
Best place on meth

Layla Yang involved again , what a surprise.

Amusing to watch crooks from the motherland turn on each other, it’s like the coup plotters south of the border.

It seems that only shit and garbage flow from china to Canada., then again I’m not sure there are any decent people at all in that shithole.

Oracle
Guest
Oracle

I’ve been telling you guys this is happening all the time in the homes selling for way less than assessment.

But nope. I’m attacked for pointing it out.

A correction is when all homes selling in an area basically go for the same percentage under assessment. Can’t have one going for 40% below and the rest 10%.

Don’t be naive minions.

Let the apologies flow…

Laibach
Member
Laibach

About to check it but they took story down, something is wrong? Locust connections with censorship?

“This story has been withdrawn pending a review.”

Oracle
Guest
Oracle

They don’t want to close down this loophole.

The odd home selling for 40% below assessment makes the minions happy and allows the boom to continue.

It only took me 8 months to convince you guys on this. And another 8 months to explain a fix.

A fix : tax based on assessed value. Not sale price. Hahaha. Will anyone agree???

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

Excellent!

Use some of the money to hire more agents, expand the investigations tenfold!

Canada is for Canadians
Guest
Canada is for Canadians

CRA also needs to go after undeclared rental income, that’s another $1 billion nationally.

Werner Stein
Guest
Werner Stein

Hey Dave:
I don’t think your wishy washy.
You are in the habit of talking out of both sides of your mouth. That’s just what some realtors do.

Btw you cannot apply the same principles to the RE industry as you would with stocks.
Particularly in Vancouver.

It will be a severe crash. The greedy will get their comeuppance.

Tic Toc Tic Toc

MTADTA
Guest
MTADTA

I agree. The bit about corrections being short in nature is historically correct expect that this run up has likely been the longest and biggest in Vancouver history so we should expect the correction to be more severe.

Further, HAM and money laundering are gone and not coming back and they had a huge influence on the run up.

I don’t think this is a run of the mill correction. I truly believe we are just getting started.

Laibach
Member
Laibach

“Further, HAM and money laundering are gone and not coming back and they had a huge influence on the run up.”

It is a major one that not only devastated housing but fucked up societies and overall “Canadian” living. The state should learn the lesson and do whatever it takes to protect its own people and let those wild hordes to come back for prey again.

Laibach
Member
Laibach

typo, .meant to say “don’t let those wild hordes to come back for prey again.”

Oracle
Guest
Oracle
The case that Bullwhip mentioned is a classic case of how mainlander are screwing us over. How? 1) The bulk of foreign illegal money coming into our market is from China. They are not allowed to bring in more than $50K per year. Basically most are criminals in their homeland because of this. Will they act differently here? Lol 2) Who’s these court costs? Us suckers are. 3) She keeps claiming she has PR card. Who cares!!! You’re not a citizen!!! Time to only allow Canadian citizens to buy real estate. These PR people think they have as many rights as citizens. 4) Anytime you see less than a 20%? Share in a home, something fishy is going on. They had a 1%-99% arrangements. You do this because you want to cheat taxes one way or another! 5) How long… Read more »
Hyper-mega-Bull
Member
Hyper-mega-Bull

chinese have discovered white people’s kryptonite.

rob them blind and when you get caught act dumb and be apologetic. for some reason this bypasses a white person’s critical thinking and hacks their brain.

friends, give that strategy a try this weekend and rip off a white person.

Best place on meth
Member
Best place on meth

Thanks asshole “progressives”!

Scumbags get to take advantage of us and cry “racist” when caught because you empowered them to rape and pillage us.

I hope you all rot in hell.

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

Well, you are a fucking racist. And a nasty piece of work too, it would appear.

Best place on meth
Member
Best place on meth

I used to think you were a traitor, but I don’t believe you’re actually Canadian anymore.

You’re one of the vermin.

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

I think I know why you’re alone.

Best place on meth
Member
Best place on meth

Nobody cares what you think, vermin.

YVR
Guest
YVR

Definitely locust. He can’t even read English.

YVR
Guest
YVR

It is called white guilt.

And, now, since the ’60s, white Americans have been grappling with the stigma, trying prove that they are not racist, to prove the negative.

https://www.npr.org/templates/story/story.php?storyId=5385701

White power
Guest
White power

Exactly. We the chosen white need to reestablish our supremacy in the world. We need to wage a holy race war against those chinks. Kill them all. The night of broken glass in Canada can’t come sooner.

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

1) it’s not a crime in Canada to import money
2) everybody has access to the legal system, and that’s a good thing.
3) PRs don’t pay the FBT, and aside from voting they do have largely the same rights. Deal with it.
4) false.
5) what the fuck is wrong with you?

Oracle
Guest
Oracle

USA will put China in its place!!!

Release our hostages! Tell your people!!

White power
Guest
White power

For every Canadian they imprison, we kill 100 of those chink vermins in Canada. That would solve 2 problems at once.

paulb
Member

New
146
Price Change
106
Sold
106
TI:15,643

http://www.clivestevepaul.com

Big Bear
Guest
Big Bear

The shadow inventory is still rising.

Big Bear
Guest
Big Bear
YVR
Guest
YVR

Wow looks like we are going all the back to 2003 prices when this bubble started. About half way there now.

Just sold below 2010 purchase price in West Vancouver

1123 Keith Road, West Vancouver

Bought 2010 $2,245,000

Just sold for $2,080,000

42% below 2018 assessed of $3,559,000
36% below 2017 assessed of $3,260,000

https://www.40listings.com/REBGV/R2374594/1123-keith-road-west-vancouver-ambleside-v7t1m7

YVR
Guest
YVR
Best place on meth
Member
Best place on meth

Locust prices deflating fast…..

Oracle
Guest
Oracle

Overseas cash transaction.

Big Bear
Guest
Big Bear

I agree with you on this one. For the buyer, it’s a dumb move on the long run. Now his house is “officially” at 2M$ instead of 3.6M$. Yes he saved PTT but if he wants to flip this house it’s an assured loss.

Oracle
Guest
Oracle

No.

If the future buyer is from the same ethnic background, then they will understand what happened.

The problem with you white folks is you’re not thinking like the Chinese.

The new buyer will see what a smart seller he is buying from. He will want to exploit similar loopholes.

Oracle
Guest
Oracle

In other words, the house value is based on comparables. Not what he ‘bought’ it for.

Big Bear
Guest
Big Bear

That means he’s even more screwed. If Chinese money dries up, then what?

Doomcouver
Guest
Doomcouver

It already dried up, what’s left are just the residuals from when the Chinese were able to get money out of China.

Bag it and tag it
Member
Bag it and tag it

Delusional…just need to accept your paper mache house is underwater and there won’t be any buyer coming along willing to pay 30% over market value because they are convinced the true market value is much higher due to cash component.

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

Structural issues.

Laibach
Member
Laibach

What kind of looser-amateur does this?

Desperate Trudeau antagonizes Mike Pence over abortion to score political points

https://nationalpost.com/opinion/john-ivison-desperate-trudeau-antagonizes-pence-over-abortion-to-score-political-points

Oracle
Guest
Oracle

Check out 9656 – 160 street in Surrey.

See if sold on MLS.

Then see bcassessment sale price and compare it to assessed.

Holy Crow Batman…Oracle may just be right. Hahaha

Laibach
Member
Laibach
Doomcouver
Guest
Doomcouver

Despite their recent mentally-deficient cheato-skin president, the USA is a way better friend to have than China. Quite frankly I don’t give a toss what further ‘consequences’ China has planned for us. Bring it on.

Best place on meth
Member
Best place on meth

China is our enemy, they can fuck off and die. All of them.

White power
Guest
White power

I agree. Burn them all. We NEED to start within Canada. We need to first purify Canada of the chink corruption from within. Then we need to get US and UK and the white nations around the world to cleanse china with nuclear fire.
18/44, HH brother.

Best place on meth
Member
Best place on meth

Eat shit, loser.

Oracle
Guest
Oracle

I think he is agreeing with you. You are calling to strip every Chinese off their citizenship and nationalize their property, and he is calling for a final solution.

You two are literally just two peas in a pod.

YVR
Guest
YVR

ADMIN we have White Power and Oracle matching IPs.

Best place on meth
Member
Best place on meth

Yep. BUSTED!

Get rid of them both.

Watcher
Guest
Watcher

Did anyone hear CBC Radio new this morning? Court documents disclose a scheme to evade BC property transfer tax by stating a low price in BC sale documents and paying the rest of the real price in China.

Those of you who denied this scheme are too naive and gullible.

Oracle
Guest
Oracle

9656-160 sold for $555K. Assessed value $1,098,000.

50% off assessment.

Minions: “Yay the market is crashing….”

Oracle: “”hang on a second…”

Minions: “Pumper! Real Estate Agent!”

——-

You can find many of these 50% deals on BC Assessment. Choose the recent sales option. Gives you a bigger view than MLS sales.

They can stop this by applying tax rate on assessment price. Not on sale prices. But NDP will appear shocked that this is happening and will do a study. To satisfy the minions.

Big Bear
Guest
Big Bear

Can you send this to Mortimer on Twitter? Thanks.

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

Hi, sockpuppet!

Oracle
Guest
Oracle

Good Grief. The Commie is out to lead people astray. What a nasty trait these people have.

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

When do you have to return the car?

Dave
Member

LOL. Can I rub it in yet?

When a property sells for $1Million below market value, you know there is a side deal.

Oracle
Guest
Oracle

The scheme also helps the seller in if you bought the property 5 years ago, and it was a 2nd home, you can set the price at a point so little Capital Gains payable.

1 year ago, there was no need to do this as there was no federal tax form to report a house sale. It was an honour system and all homes were principle residences. Haha.

Now form must be filed at tax time for each house sold. What better way than a Chinese-Chinese transaction ? There are half million here now so they have their own market. Like that “Uber” market they have.

Can someone tell Mortimer on Twitter as to what’s really happening?? The Mainlanders arevoribably laughing at the poor white guy.

Laibach
Member
Laibach

Hey Oracle, you are becoming a bit irritating with that shtick “white guy”, “white folks”, “whites”. Pushing race and skin color in the apparent problem with scumbags, thieves, criminals, cheaters, tax evaders and other kinds of lowlifes that came from China and damaged our system and communities doesn’t help that much but rather makes things worse. Focus on how to expose them, bring them to justice and eventually get rid of them by revoking their PRs, visas and bogus citizenships. Your stories about the ways how locusts and criminals screw the system and law are interesting regardless of their authenticity but leave “colors” out of it.

Oracle
Guest
Oracle

Yeah you’re right.

Sometimes just get upset with how naive people are on this blog. The trolls are easy to identify. The naive? Well they’re like they’re beholden to a cult.

They are believing we are in a full blown crash and ignoring what I’m seeing.

Oh well.

Specuskeptic
Member

” ignoring what I’m seeing”

You are a delusional compulsive liar. Ignoring what you “see” and say is simply the logical thing to do. Full stop.

Bag it and tag it
Member
Bag it and tag it

Or you know that a full scale crash is in effect because properties were massively overvalued. Ironically the scheme used by money laundering was the opposite. The price was inflated on the sale document, and the buyer actual pays less then that amount. So if the official price is $1mil higher than the market value,, and that’s $1mil of laundered proceeds.
That scheme was largely responsible for the massive run up in prices, especially in the high end.

Bag it and tag it
Member
Bag it and tag it

where’s the link Oracle?

Watcher
Guest
Watcher

There’s this thing called google…

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

There are these things called sock puppets….

DaMann
Member
DaMann

If all this bullshit is true, and I highly doubt it’s true for all these massive haircuts maybe a couple, it was also probably the same on the way up. When prices were moving 30-40% a year on the high end I read a theory that they were over bidding on purpose to set the new price level for the other sales. Effectively driving prices up by setting the new high bid. So in reality if you want to play this game of trying to believe the price drops are not real then you can also assume the price gains were not real. Essentially the market is going back to reality ( which is a hell of a lot lower ) regardless of which “theory” you want to believe.

dude
Guest
dude

Who is gonna hit next news? Chinese or Indian.

Chaudhary?
Indian 1. Chinese 0.

https://vancouversun.com/business/local-business/unregistered-mortgage-broker-in-hot-water-over-500-million-in-questionable-home-loans

Let the count start!

that didn\'t last long
Guest
that didn\'t last long

Serial rapist who terrorized Surrey in late ’90s released back into community where he committed crimes

Earon Wayne Giles was released May 24 after spending 22 years in prison for six counts of break-and-enter to commit a sexual assault.

https://vancouversun.com/news/crime/serial-rapist-who-terrorized-surrey-for-more-than-two-years-in-late-90s-released-back-into-community-where-he-committed-crimes

dude
Guest
dude

Did he rape Real Estate?

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

CRA signs secret settlement with wealthy KPMG clients involved in offshore tax scheme

https://www.cbc.ca/news/business/cra-kmpg-settlement-taxes-1.5154610

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As we have discussed before….no real appetite to go after the big fish…just token slaps on wrist and they get to keep their ill gotten gains.

MTADTA
Guest
MTADTA

Yep better to ask the small business owner for his vehicle log and disallow the he deduction on the gas he bought in Blaine.

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)
From LAWYER Christine Duhaime(money laundering expert) twitter China has traced and now obtained surrender of 58 of its “100 Most Wanted” in China. Only 42 left. I’m guessing there are many govt agents from China chilling in Vancouver watching / filming many of the remaining 42 and their children. They got 3 last week from various countries. 3 hours ago ================================================== My own take away after presenting for an hour on money laundering risks today is Vancouver banks still don’t believe its a crime when their clients in Vancouver exit money from China using 180+ smurfs who fill out bank exit forms fraudulently to circumvent $50k exit limit law. ====================================================================== http://www.antimoneylaunderinglaw.com/2019/05/study-in-china-identifies-areas-in-china-where-most-money-launderers-originate-and-finds-that-the-number-of-suspicious-activity-reports-filed-does-not-improve-regulatory-effectiveness.html Study in China identifies areas in China where most money launderers originate and finds that the number of suspicious activity reports filed does not improve regulatory effectiveness By Christine… Read more »
Shit It Down Already(Original)
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Shit It Down Already(Original)

From VRE flip flops
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Vancouver Real Estate Flip Flops
‏2929 29th Ave W, Mackenzie Heights, West Side #Vanre

2500 sq ft home, built in 1937, on 4000 sq ft lot

@VanREflipflops
May 29
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2/ they close the curtains and waited to collect their millions, sorry, I mean lose millions.

First listed for flip in June 2017 for $2.999988M ‍♀️

2019 Assessment value $2.406M

Re-listed May 9, 2019 for $2.8M

Three weeks later…

Just re-listed for $1.888M, 22% BELOW

@VanREflipflops
May 29
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3/ assessed value.

$900,000 drop in 3 weeks

Now, I’m not convinced the seller/realtor will accept an offer at this level. Probably think they are being “clever”. But you know what? THE JOKES ON THEM BECAUSE THAT’S PROBABLY MKT VALUE!

“If” they sold for the new list price…

Bubble
Guest
Bubble

$2,700,000
Sold, 04/21/16

MTADTA
Guest
MTADTA

I love that site! It is the best source of boots on the ground bear info. I say that because there is never any bullish info on it. That said, not much to report for the bulls.

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

KABOOM!

TELUS Gardens condo downtown… just sold for a $302,000 loss (+ expenses)

Bought 2017 $1,600,000

Just sold for $1,298,000

2018 Assessed: $1,614,000
2017 Assessed: $1,524,000

Doomcouver
Guest
Doomcouver

They got off easy. We’re on track for an economic/money laundering implosion that could see 80% off on housing in Van.

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

I agree..

Even if I won the lottery I would be very leery of buying RE….one would have to do a LOT of due diligence to be sure the given property is free of foreign locust legality turds…

Oracle
Guest
Oracle

Lol. Troll.

80% implosion. Did you pass grade 1 Math?

Laibach
Member
Laibach

As much as such drop of 80% sounds science-fictional, it would brought RE somewhat closer to fundamentals and local incomes (ratio of house prices to average earnings is a workable 3.4 to one). However even with 80% drop Vancouver market would be still considered expensive and not affordable.

https://vancouversun.com/opinion/columnists/douglas-todd-how-unaffordable-is-vancouver-let-us-count-the-ways

Best place on meth
Member
Best place on meth

Have you covered all the grades with your insults yet?

TROLL!

Big Bear
Guest
Big Bear

One word: Phoenix

MTADTA
Guest
MTADTA

Wake me up when its $850k

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)
Vancouver Real Estate Flip Flops ‏BEST CASE OF “CHASING THE #VANRE MARKET DOWN” THAT I HAVE SEEN YET! 1215 Waverly Ave, Knight Area, #eastvancouver This is a 1970, Vancouver Special that is a rental property, so not the Taj Mahal by any stretch. Purchased Mar/14 $1.01M July 1, 2017 assessed value: $1.737 @VanREflipflops Follow Follow @VanREflipflops More 2/ July 1, 2018 assessed value: $1.641 The first listing on this property was July/17 at $2.099. The the “death by a thousand re-lists” starts… 2018-04-13 : $1.899 2018-05-25 : $1.849 2018-07-23 : $1.845 2018-08-22 : $1.799 2018-10-16 : $1.699 2018-11-22 : $1.695 not done yet‏ 3/ 2019-01-07 : $1.649 2019-01-09 : $1.625 2019-01-29 : $1.599 Unreal! So for anyone who wants to know where the market on the east side has been since July 2017, just look at these list prices and… Read more »
Best place on meth (original)
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Best place on meth (original)

I’m a fucking racist and piece of shit. I hate myself so I lash out at honest hard working people.

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

Smartest thing you’ve ever said.

YVR
Guest
YVR

You probably wrote it. Sounds like something you would say.

Best place on meth
Member
Best place on meth

Is this your sock puppet?

HYPOCRITE!!

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

No, if it had been me I’d have surely mentioned something about you being at home – again – on a Friday night.

Try going outside. It’s fun.

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)
PEPs most at risk for being money launderers in China http://www.antimoneylaunderinglaw.com/2019/05/study-in-china-identifies-areas-in-china-where-most-money-launderers-originate-and-finds-that-the-number-of-suspicious-activity-reports-filed-does-not-improve-regulatory-effectiveness.html With respect to risks arising from type of customer, the researchers found that politically exposed persons pose the greatest statistical risk of being money launderers in China. Second was persons in financial services (banks or securities brokers) because they have access and ability to defraud banks and crucially, to exit proceeds of corruption out of China. Researchers noted the fact that the Bank of China was defrauded by many of its politically exposed executives who exited RMB 3 billion and “escaped to Vancouver” with the proceeds of crime. The third most high risk occupation to be a money launderer in China was owners of private companies who transfer, using companies that are often fake, vast fortunes out of China to foreign countries. Researchers looked at the use of underground… Read more »
Laibach
Member
Laibach

They must be well hidden here in Vancouver with the entire scheme of fake names, proxies and the other look-alike shit. Fucks will keep a low profile forever scared of being discovered but eventually, it will happen. Chinese secret agents deployed here should start knocking on the doors of expensive houses and condos (everything over 1M$) and ask “from where the money is, show me the shit”.