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Friday Free-for-all! June 28th 2019

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566 Comments

It’s the end of another wonderful week in paradise and that means it’s time for another Friday free-for-all, our end of the week news round up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

–Pre-sales buyers back out as market slows
–Anti money laundering job
–Fed loan rate over 10%?
–Borrowing binge continues
–Selling below 2015 prices?
–

So what are you seeing out there? Post your news links, thoughts and anecdotes in the comments below and have an excellent weekend!

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bullwhip29

RE: speculation tax figures

“So far, 12,029 owners have paid the tax. However, roughly 23,000 people still have not completed their declaration or exemption forms, which could significantly change the makeup of the figures in the weeks ahead.”

>>> 23000 out of 1.6M is not statistically significant. it could be deemed to be a stretch For Carol James to assume the bulk of these 23000 are tax evaders so as to boost the actual # paid to match the 32000 +/- owners that she claimed would be affected. the other way of looking at this is that almost 2/3’s of those targeted have not paid their bill yet. either way, the administrators of this botched program have lots of work to do

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bullwhip29

New immigration pilot will offer permanent residency to migrant farm-workers
https://nationalpost.com/pmn/news-pmn/canada-news-pmn/new-immigration-pilot-will-offer-permanent-residency-to-migrant-farm-workers

Under this new pilot, temporary foreign farm workers will be able to apply for permanent residency after 12 months and, if they’re approved, will also be allowed to bring their families to Canada

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bullwhip29

in other news, another driver crashes white BMW X5 knocking out power to 1000s in Surrey. not surprisingly, there were no other drivers, pedestrians or witnesses
https://www.cbc.ca/news/canada/british-columbia/crash-surrey-hospital-poer-out-1.5209428

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bullwhip29

Burnaby man living in a ‘construction zone’ refuses to pay rent
https://www.vancourier.com/burnaby-man-living-in-a-construction-zone-refuses-to-pay-rent-1.23881523

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xhistory

Are you looking up tonight? Do you see the Moon and to its left, Jupiter. Look to the right and up, that’s Arcturus…home

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paulb

New
179
Price Change
109
Sold
97
TI:15567

http://www.clivestevepaul.com

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Spec

+1 over yesterday. If I say “peak” every day, eventually, I’ll be right LOL 🙂

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Shut It Down Already (original)

Better then saying “rush to the exits” every day and never being right, I suppose?

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YVR

Or “racist” several times every hour and never being right?

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Spec

Does someone on here do that? I know someone likes to say “peak” an awful lot in reference to inventory but I don’t see the “rush to the exits” comment very frequently – especially in comparison.

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Shut It Down Already (original)

You’re right, real estate doesn’t come up that often.

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Spec

“Early B.C. speculation tax figures show foreign owners hardest hit” https://vancouversun.com/news/local-news/early-speculation-tax-figures-show-foreign-owners-hardest-hit “The preliminary data shows far fewer than the government’s originally estimated 32,000 homes have had to pay the tax, yet revenue to the provincial treasury is already much higher than expected due to the high value of real estate taxed. Although government had also originally estimated two-thirds of those paying the new tax would be British Columbians, so far the figure is much lower. Of the 12,029 owners that have paid the tax so far: • 38 per cent (4,585 people) were foreign owners who live outside of Canada but own B.C. property that is vacant more than six months of the year. • 27 per cent (3,241 people) were satellite families, defined by B.C. as a household in which 50 per cent or more of the income comes… Read more »

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Bubble

The numbers could be even higher, from the same article:
“So far, 12,029 owners have paid the tax. However, roughly 23,000 people still have not completed their declaration or exemption forms, which could significantly change the makeup of the figures in the weeks ahead.”

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paulb

New
223
Price Change
129
Sold
115
TI:15556

http://www.clivestevepaul.com

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MTADTA

Phil has changed his tune!! Home prices expected to rise in Eastern Canada, slump in west: forecast
JANET MCFARLAND
THE GLOBE AND MAIL
July 10 at 3:03 PM PT
A new housing forecast shows a geographic divide in Canada’s real estate market, with home prices expected to decline across cities in Western Canada by the end of 2019, but show growth in major centres from Ontario eastward.
A forecast released Wednesday by Royal LePage predicts a modest 0.4-per-cent increase nationally in home prices by year end compared with 2018. But within the national figures, there will be wide regional variation.
In Greater Vancouver, for example, Royal LePage predicts a 5.5-per-cent price decline as the city’s real estate market continues to languish, while booming Montreal is expected to lead home price growth in Canada this year, with a forecast increase of 4.5 per cent.
Royal LePage chief executive… Read more »

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xhistory

The Group of Seven, amiably impressed with the land of the Canadian Shield, produced a legacy of paintings. What better place on the planet to pay homage to this influence than to reside in Montreal while we limit down at 7.7 billion?

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Bubble

Something wrong with this 3 bedroom condo at UBC.
Bought for $900,000 in 2015. How many realtors needed to sell a condo? (seven MSL#s, no takers)

6088 IONA DRIVE, UBC
https://www.rew.ca/properties/R2377081/6088-iona-drive-vancouver-bc

MLS® Sales History

Date Comments MLS® Number
2019-Jun-05 Listed $1,480,000 R2377081
Royal First Realty
2019-Jun-01 Expired $1,480,000 R2323819
2018-Nov-19 Listed for sale R2323819
Royal Pacific Realty (Kingsway) Ltd.
2018-Nov-05 Expired $1,536,000 R2302558
2018-Sep-04 Listed for sale R2302558
Nu Stream Realty Inc.
2018-Sep-04 Expired $1,198,880 R2285801
2018-Jul-03 Listed for sale R2285801
Nu Stream Realty Inc.
2018-Jul-01 Expired $1,499,000 R2230052
2018-Jan-03 Listed for sale R2230052
Pacific Evergreen Realty Ltd.
2018-Jan-01 Expired $1,599,000 R2217698
2017-Oct-25 Listed for sale R2217698
Pacific Evergreen Realty Ltd.
2017-Sep-01 Expired $1,499,000 R2175960
2017-Jun-06 Listed for sale R2175960
New Coast Realty

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Canada is for Canadians

and the listings are all with chineeze real estate companies …

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bullwhip29

asking price remains way too high after all this time. they can start by chopping off 500k and go from there. eventually UBC will be built up like the west end so there is no need for urgency and panic to buy any of these leasehold properties. oh, and those little matters the FBT, vacancy tax, flipping registry might be issues in today’s market…just a hunch. it looks to me like the owner trying to pass this hot potato off has no clue the market has been flipped upside down

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bullwhip29

Former Toronto Raptors star Danny Green says his bags were stolen while in Vancouver
https://globalnews.ca/news/5479357/danny-green-robbed-vancouver/

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Canada is for Canadians

“We booked the Airbnb — in the pictures, it looked great, it always does. I mean, I stay in a hotel, but a lot of guys stay in Airbnb.”
But arriving at the room, they found things weren’t exactly as advertised —

yet another Airbnb fail …

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Shut It Down Already (original)

“yet another DTES fail …”

Fixed that for you.

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Best place on meth

His appointment was in Dunbar.

More like a dumb basketball player fail. This guy needs a travel agent.

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bullwhip29

18 year old driver of Audi A3 clocked travelling at 187 km/h in Abbotsford
https://www.cbc.ca/news/canada/british-columbia/teen-driver-ticketed-1.5206681

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Doomcouver

Those are some weak numbers. Audi A3 top speed is 250 km/h. His corrupt CCP father must be very disappointed in this terrible under-achievement.

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Simple Solution

Audi A3? Embarrassing ride for him

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bullwhip29

The City of Vancouver plans to hire a consultant to gauge whether neighbours of a modular housing complex in Marpole for homeless people have “the same opinion and level of concern” they had when the facility was in the proposal stage in 2017
https://www.vancourier.com/news/have-neighbours-opinions-changed-about-modular-housing-for-homeless-in-marpole-1.23879244

>>> we really do have idiots running this asylum, don’t we?

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Selective Memory

Who needs evidence when you’re a know-it-all?

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Doomcouver

STAH-LEE-PAAAAHK

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bullwhip29

Impairment, 150km/h speed led to tragic Tesla accident
https://www.vancourier.com/impairment-150km-h-speed-led-to-tragic-tesla-accident-1.23879791

RCMP are not revealing the name of the deceased for privacy reasons but McLaughlin said the man was not a Tri-Cities resident

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bullwhip29

The race to save the Vaquita porpoise amid a battle with cartels, poachers and Chinese mafia
https://abcnews.go.com/Technology/race-save-vaquita-porpoise-amid-battle-cartels-poachers/story?id=64201044

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bullwhip29

Vanuatu has denied bowing to pressure from Beijing by allowing Chinese police to enter the Pacific island nation and extract 6 criminal suspects without them facing a local court
https://www.rappler.com/world/regions/asia-pacific/235063-vanuatu-defends-speedy-china-extraditions

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xhistory

Caught my eye, this is a reoccurring issue

“The situation has been likened to a case in Fiji two years ago when China’s uniformed police escorted 77 hooded and handcuffed Chinese nationals who were allegedly part of an online fraud network out of the country.“

The number 77 is there to tell you the online fraud was people smuggling from overpopulated areas.(ie there are 7.7billion people on the planet)

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bullwhip29

WINNIPEG SUN: Stolen car stop yields meth, stolen passports and Chinese driver’s licence
https://winnipegsun.com/news/crime/stolen-car-stop-yields-meth-stolen-passports-and-chinese-drivers-licence

>>> rotten to the core…

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bullwhip29

NATIONAL GEOGRAPHIC: Most widespread wildlife crime raid ever sweeps across more than 100 countries
https://www.nationalgeographic.co.uk/animals/2019/07/most-widespread-wildlife-crime-raid-ever-sweeps-across-more-100-countries

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bullwhip29

Charges are pending against two seniors after an alleged soup assault at an “East Asian-oriented” Burnaby mall on Saturday
https://www.richmond-news.com/charges-pending-after-alleged-soup-assault-at-burnaby-mall-1.23879625

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Doomcouver

A valuable lesson on what country they’re actually in. At Crystal Mall they probably thought they were still in China.

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Canada is for Canadians

that mall is literally like being in china … and it stinks to boot.

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Best place on meth

Why does it stink?

Is it the human feces?

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Laibach

No but tradition and culture. “Welcome and please feel like being at home.”

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Laibach

Chinese insider cadre is at it again, what a slimy manure… You wouldn’t want them in power: Providing further fodder to Conservatives who believe the Trudeau Liberals are a wholly-owned subsidiary of the Communist Party of China, former ambassador to China and Trudeau appointee John McCallum urged Beijing to cool it with the Canada bashing, lest it lead to the election of a Conservative government less satisfactory to China. Speaking to the South China Morning Post while in Hong Kong, McCallum said “Anything that is more negative against Canada will help the Conservatives, [who] are much less friendly to China than the Liberals.” (SCMP) Another former Canadian ambassador to China slammed McCallum’s comments. David Mulroney tweeted: “A one-time Canadian ambassador urges China to ease up on Canada as the best way of keeping the Liberals in power. This is appalling… Read more »

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Laibach

On the second tought, he just badly shoots Liberals in the foot, great job! Rather like personal revenge to JT.

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Bubble

All polls indicate that Liberal will win again (maybe a monitory government) in the fall. Young people ( below 35?) will not vote for conservatives .

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xhistory

The average age of global population is 29, and has been this way for half dozen years. That’s in resonance with the orbital period of Saturn, and incidentally, or not, the age of AOC.

Anyone here have an asteroid named after yourself? She does.

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Best place on meth

That would make sense, her head is filled with rocks.

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xhistory

The concrete which was once the Berlin Wall

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Best place on meth

The “Trudeau tracker” has him at 33% approval rating, his lowest ever and 12 points lower than Trump.

http://angusreid.org/trudeau-tracker/

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Shut It Down Already (original)

Trump is consistently below 50% approval. If he ever manages to climb above that I’m sure it will make the headlines.

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Best place on meth

You missed the point yet again.

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Shut It Down Already (original)

No, I fully appreciate that Trudeau is hugely unpopular right now and that you suck at math.

Trump, however, has never been popular. Not even for one day of his utterly bizarre presidency. He’s the most unpopular president since, well, polls were invented. Sad.

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Selective Memory

Given the damage he’s done to the government over the past year, it’s hard to believe MacCallum’s allegiance is to the Liberals.

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Best place on meth

His allegiance is to the liberals, he’s just incredibly incompetent.

He’s also a traitor to Canada.

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bullwhip29

‘We see Bank of Canada on hold for next couple of years’: Sal Guatieri, BMO
https://business.financialpost.com/news/economy/instant-view-bank-of-canada-holds-rates-highlights-risks-posed-by-trade-wars

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bullwhip29

Luxury real estate sales flourished in Montreal with property sales over $4 million jumping by triple digits in the first half of 2019
https://bc.ctvnews.ca/b-c-tax-redirecting-international-homebuyers-to-montreal-sotheby-s-report-1.4502062

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Laibach

Apparently, fucks still keep laundering and stashing their shit in Canadian housing stock but don’t want to pay BC foreign tax.

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bullwhip29

well, it seems they are perfectly willing and able to hang out in a FBT-free province until either (a) they are exempt from the tax or (b) the FBT is killed

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bullwhip29

and with the ever evolving and supposedly more sophisticated HAM versions 2.0 and beyond, who are apparently above shopping at outlet malls and eating at food courts like the nouveau riche farmers from china’s outback, Montreal is the best of both worlds

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Shut It Down Already (original)

“Sales of properties over $4 million soared 267 per cent with 11 properties sold”

ELEVEN. In 6 months.

“Soared”. “Triple digits”. “267%”. I cannot believe you bozos are falling for the same fucking realtor shit all over again.

Oh wait – yes I can.

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xhistory

https://www.counterpunch.org/2019/07/10/hong-kong-new-epicenter-of-the-empires-smear-campaign-against-china/

Proxy war. Epicentre Hong Kong. Although Vancouver isn’t mentioned, you see the proxy war on social media.

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Dave

Once people taste freedom, they don’t readily give it up. Beijing underestimated the response of Hong Kong. And that should give Beijing cause for self reflection and second thought about the path they are heading down. In my view, the smart way forward is to give more and more freedoms to their people. This totalitarian shit won’t and can’t last.

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xhistory

If things deteriorate in Hong Kong we might want to revisit the South Africa method. Bring over the best, the professional class. Altho I’m not inclined to see that as a conscious effort, it was just how the chips went down after the ANC got too rowdy. The essential task is to catch the big move when it occurs. It could take myriad forms.

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Hyper-mega-Bull

Economists share blame for China’s ‘monstrous’ turn
Western intellectuals must now seek to contain Beijing

The leaders of modern China won’t be satisfied with turning their country into one of the leading powers of the multipolar world. Their aim is to become the hegemonic leader of the globe.

Chinese diaspora constitutes a huge pool of human resources from which the country’s leaders can select their own men.

https://www.ft.com/content/f10ccb26-a16f-11e9-a282-2df48f366f7d

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bullwhip29

Richmond college suspended for selling massage diploma
https://www.cbc.ca/news/canada/british-columbia/richmond-massage-school-suspended-selling-diploma-1.5205606

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Best place on meth

“Wang admitted to selling the certificate, explaining that he was trying to help Qin qualify for a mortgage on a new condo, according to a decision from the Civil Resolution Tribunal. ”

Everything with these lowlifes always circles back to real estate.

At least this story has a happy ending, although not for Wang.

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