Friday free-for-all! June 7th 2019

It’s the end of another week and that means its time for another open topic discussion thread. Friday free-for-all time!

So what are you seeing out there in the streets and alleys of grand ol’ Vancouver? Post your news links, thoughts and anecdotes in the comments below and have a fantastic weekend!

527 Comments on "Friday free-for-all! June 7th 2019"

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southseacompany
Member
southseacompany
“The hammer of high interest rates may never drop on struggling borrowers”, Globe & Mail https://www.theglobeandmail.com/investing/personal-finance/article-the-hammer-of-high-interest-rates-may-never-drop-on-struggling/ “What was supposed to be a march back to normalcy for interest rates began just about two years ago. Rates did grind a fair bit higher in the ensuing months, but we’re still nowhere near what would have been considered normal levels prior to the last recession. Now, it’s looking like rates are at or close to their peak for this economic cycle. The hammer of much higher rates may never fall on the many people who have over-borrowed to buy houses, cars, renovations and sundry other things.” “Don’t celebrate quite yet, borrowers of the nation. Financial markets are expressing a distinctly pessimistic view of what’s ahead for the economy. Job security, hours worked and raises and bonuses could be at risk in a… Read more »
Oracle
Guest
Oracle

Couple that with ever increasing immigration rates and the cash economy.

Specuskeptic
Member

Jobs figures were way better than expected. The slide into a permanent low-rate, Japan-like situation may be delayed….

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

From last post:

New Study Of Old Real Estate Bubbles (1582-1810) Finds Two Surprising Similarities With Modern Bubbles

https://realestatedecoded.com/new-study-of-old-real-estate-bubbles-1582-1810-finds-two-surprising-similarities-with-modern-bubbles/

From MTADTA
For those who didn’t read that fantastic link here is a key point:

Here’s the fascinating part: Studies of modern real estate bubbles found similar results — price gains the last two or three years help determine the price gains this year.

Despite all the differences between the real estate markets in Amsterdam 200-300 years ago and in the United States 20 years ago, studies of both have found a big determinant of price increases was the price increases the previous two or three years.

========================

This is what Ross Kay effectively states..
He uses different metrics and states the RE market peaked a few years ago(I believe he said 2016)…

Oracle
Guest
Oracle

This is not a bubble. Causes are high immigration, low interest rates, lax regulatory/enforcement environment,money laundering, and ALR restrictions.

Attack one factor significantly and it will have an effect. But politicians playing games.

Simple Solution
Member
Simple Solution

This is not a bubble…. You are on your game today!!!!

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

I’m buying anything and everything I can in Abbotsford, former murder capital of Canada!

Oh wait, I’m not that dumb.

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

SIDA :
I told you you were boxed in.

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

You forgot that nobody gives a fuck what you say.

Best place on meth
Member
Best place on meth

Stop stealing my lines you chinese piece of shit.

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

More racially-motivated hatred from our regular Friday night loser.

Did your ex-wife take all your friends, too? LOL.

YVR
Guest
YVR

You sound like a retarded parrot. Do you have nay new material?

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

Who’s really behind that Vancouver mountain? A boss at troubled Chinese investment giant CMIG

https://www.scmp.com/news/world/united-states-canada/article/3008193/whos-really-behind-vancouver-mountain-boss-troubled

QUOTE:
Vancouver’s new property player has deep pockets – and a rich Chinese communist pedigree
There is understandable sensitivity about the way Chinese investment is reported in Vancouver – but sometimes this is co-opted to deflect scrutiny of such deals by implying a racist intent, even when they involve such eminently newsworthy players as Anbang and CMIG. It’s a ploy that is the bastard child of Canadian identity politics and finance-bro free-for-all-ism.

===================================================

Basic gist is the REAL investor, like so many others … is the Chinese Communist Party using foreign locust minions as front people.

Laibach
Member
Laibach

Kenny Zou… would you let him park your car?

Oracle
Guest
Oracle

Developers putting presales on hold. McAllister putting $1.2 Billion on hold. Also says little finished inventory.

Says stimulus is low interest rates and 50,000 net people moving here per year. Almost all from overseas.

If you can do math, 12 months population inflows means we need 25,000 condo units per year. Is that happening?

Looks like developers are in charge of what happens going forward. NDP is a monumental failure for dragging this out. And now they’re on holidays ffs.

Simple Solution
Member
Simple Solution

OK… so putting everything on hold YET there is massive demand and no inventory?

Hurry and buy deeeeeep in the valley before its too late!!!

Simple Solution
Member
Simple Solution

Because developers stop resales when there is massive demand!

Simple Solution
Member
Simple Solution

*PRESALES

Laibach
Member
Laibach

Oracle are you jumping the shark a bit while logic isn’t your strength today. Take a moment and read carefully what you wrote and try again. You usually do better but now somehow panic screams all over the place.

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

Agree…

Immigration is a factor but there is a tipping point in the economy that immigration cannot keep air in the bubble…errr market.

CHINESE IMMIGRANTS propped up the market….what other immigrant group is gonna pick up the slack ?
Punjabi/South Asians contractors must be crapping now…they relied on HAM.

Specuskeptic
Member

Logic is never their strength. Boracle doesn’t usually do better. And yes, panic is reaching a new level. It’s hilarious.

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

Why would the developers put all those deals on hold if things were “on fire”

Royce McC
Guest
Royce McC

Bingpot!

Simple Solution
Member
Simple Solution

us ‘minions’ don’t understand… only Oracle gets it….

Oracle
Guest
Oracle

No offence intended but I genuinely don’t see what you guys are seeing here in the valley.

Sure Vancouver is being affected. But south of the Fraser, Mr seeing the doom and gloom. Detached sales in Surrey are the same as last year. See the stats yourself. FVREB

Bag it and tag it
Member
Bag it and tag it

Just checked FVREB. Sales down 14% YoY, prices down 8%

Bag it and tag it
Member
Bag it and tag it

I also couldn’t help notice that both the median and avg price of South Surrey townhouse just dropped 6.5% MoM, yes that’s right…that’s a one month drop. But I see you cherry picked detached even though your obsession has always been with townhouse, since that’s what you own.

hahahaha
Guest
hahahaha
Laibach
Member
Laibach

Holly crap, we have the non-stop fair of idiocy with those nutfucks.

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

Broody Herr !

Thought that was a tow line till I see it was a guy wire…
PS Give the driver some credit..they made it half way up to the telephone pole stuntman “Ever Kniever”.

Canada is for Bad Asian Drivers
Guest
Canada is for Bad Asian Drivers

the occupants are standing by the fire truck …

Brian Ripley
Guest

My Plunge-O-Meter is up with May data:
http://www.chpc.biz/plunge-o-meter.html

…and Vancouver SFD prices continue to loose steam, they are dropping at 7.3% per year.
Back East, Ottawa and Montreal SFD prices hit new highs.

Has the “Vancouver Model” reached those cities?

franko
Member
franko

Welcome back Brian.

Specuskeptic
Member

Oh you with your facts and data…. What about folks on this site who go with their guts and their feelings? Have you not considered them? Can’t you see that Oracle is all aflutter and the valley’s on fire?

Specuskeptic
Member

Oracle must be referring to the Ottawa Valley. It’s on fire!

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

‘We Don’t Need Them’: Russian Village Rejects Chinese Investment

https://www.rferl.org/a/russian-village-rejects-chinese-investment-we-don-t-need-them-/29983032.html

QUOTE:

Why China is interested in agricultural projects is simple, explains Lambert.

“They are focusing on farming due to the geopolitics of China itself. It has 22 percent of the world population willing to consume like the West but lacking the land to produce enough food,” Lambert says.

Back in Krasnaya Gorka, some residents fear the Chinese project could forever alter their community.

“We have a really friendly village, lots of kids, built a playground, collecting money from the whole village. And the nature we have here. People from the city come to the pond here,” explains Alekseyeva.

“We’re against the Chinese,” she adds. “We don’t need them.”

============================================================

Foreign locusts know no bounds…

Technology would allow them to grow enough food within China..this is simply another economic -weaponized attack on a foreign nation.

Best place on meth
Member
Best place on meth

Nobody needs the chinese, they are parasites.

Canada is for Overseas Landlords
Guest
Canada is for Overseas Landlords

Burnaby octogenarian overcomes absentee landlord with a monster tree

https://www.burnabynow.com/opinion/blogs/burnaby-octogenarian-overcomes-absentee-landlord-with-a-monster-tree-1.23847662

naturally, no criticism with the concept of absentee owners … just that they can be “bad neighbours”

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

Remember that story a while back re: that person who Gov’t audited re: 1% ownership stake in RE by their ex -husband ???

A much bigger story on the “1% ownership stake ” is coming soon…stay tuned…

xhistory
Guest
xhistory

I get the impression that this story is really about Sigma, or Standard Deviation… and the RE is on another popular planet, not Earth.

paulb
Member

New
176
Price Change
111
Sold
103
TI:15648

http://www.clivestevepaul.com

MTADTA
Guest
MTADTA
Mr. Soper says many Canadians view their real estate agents as professionals, similar to accountants or lawyers. All those professions have a spectrum of pricing options, he says, but people seek the best experts because they’re afraid of messing up an important transaction. After you pick yourself up off the floor read the full article: Turf wars: Real estate sales are ripe for disruption and big foreign players are moving in, but they’re in for a fight
JANET MCFARLAND
THE GLOBE AND MAIL
June 7 at 1:53 PM PT
A woman is standing in her spacious kitchen, piping pink frosting onto a birthday cake as the hubbub of a children’s party comes from the next room.
A moment later, she dramatically throws herself face down into the cake. The reason for her dismay? Her friend has just explained she could have sold her house without… Read more »
Canada is for Canadians
Guest
Canada is for Canadians

“Mr. Soper says many Canadians view their real estate agents as professionals, similar to accountants or lawyers. ”

Similar? What a joke. A realtor takes a few week’s course vs. real professions needing a university degree and accreditation.

A better comparison would a real estate agent and a car salesman.

Best place on meth
Member
Best place on meth

They are called used house salesmen by some.

YVR
Guest
YVR

Actually car salesmen are actually regulated by the government and can lose their license and dealers license for deceptive practices. Realtors not so much.

https://www.vancourier.com/news/burnaby-used-car-dealer-fighting-10-year-ban-for-deceptive-acts-and-practices-1.23269308

bullwhip29
Guest
bullwhip29

Social media ‘FOMO’ blamed for rising bankruptcy declarations in B.C.
https://globalnews.ca/news/5368529/bc-bankruptcy-social-media/

bullwhip29
Guest
bullwhip29

Hundreds of Richmondites lined up for Uniqlo clothes
https://www.richmond-news.com/news/hundreds-of-richmondites-lined-up-for-uniqlo-clothes-1.23848902

>>> and even for something as trivial as a t-shirts, these f-tards still have to dream up creative excuses to exempt themselves from the one item per style per person guideline

Laibach
Member
Laibach

Mao was their spiritual and fashion father. All must look and wear the same.

Doomcouver
Guest
Doomcouver

Many people lined up are going to try and flip them online. Chinese people seem to love scalping anything they can. Baby formula, cosmetics, ugly looking t-shirts apparently… Seriously go google it these shirts are terrible.

Laibach
Member
Laibach

When there are no lineups for condos presales Uniqlo comes to rescue. Habits are habits, regardless what lineup is for.

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

You clowns obviously didn’t see any photos of people around the world lining up for a pair of Yeezys this week.

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

SIDA…
You are still boxed in

bullwhip29
Guest
bullwhip29
Shut It Down Already (original)
Guest
Shut It Down Already (original)

My point is you seek out what you want to see, and ignore everything which doesn’t fit your narrow world view.

YVR
Guest
YVR

LOL poor Sida schooled again.

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

YVR, you’re such an idiot – bullwhip proved my point perfectly. He sought exactly what he wanted to see.

Life must be hard for you.

YVR
Guest
YVR

No, you got schooled.

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

No, you’re an idiot. And I think you know that, too.

Best place on meth
Member
Best place on meth

” He sought exactly what he wanted to see.”

Another deliciously ironic comment from VCI’s nastiest hypocrite.

I assume you don’t have any mirrors in your home.

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

You’d love to bring me down to your level of toxicity wouldn’t you, you racist piece of shit?

Best place on meth
Member
Best place on meth

It’s even more barbaric back in the motherland.

https://www.youtube.com/watch?v=2rMKPkNTKEY

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

Sh*te…
Almost confused that video with Canadian Border.

Matthew Kwok
Guest
Matthew Kwok
YVR
Guest
YVR

Looks like higher end Surrey SFH are on fire or is on sale at fire sale prices. Almost back to 2008 purchase price.
———————————————————————–
Just sold 37% below 2017 assessed in South Surrey…

2623 138a Street, Surrey

Sold for $2,400,000

2017 Assessed: $3,818,000
2018 Assessed: $3,163,000

Bought 2008 $2,000,000

https://mobile.twitter.com/mortimer_1/status/1136798078076301313

Simple Solution
Member
Simple Solution

Oracle disagrees….

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

South Surrey is an interesting market..

Lots of Caucasians who sold to HAM and moved there, though HAM has moved there as well.
My guess is market drop = mainly due to drop in HAM.

YVR
Guest
YVR

Lots of HAM in South Surrey.

YVR
Guest
YVR

A hard lesson for the greedy. Could have probably sold for $9M in 2017 but wanted $11.5M. Just took $5.45M. That is a $3.5M lesson.
———————————————————–
Just sold 53% below it’s original asking price and 40% below 2017 assessed

5537 CHANCELLOR BOULEVARD, Vancouver

Sold for $5,450,000 (was asking $11,500,000 in 2017)

30% below 2018 assessed of $7,757,400
40% below 2017 assessed of $9,157,400

Bought in 1978 for $155,000
https://mobile.twitter.com/mortimer_1/status/1136417747364003840

YVR
Guest
YVR

A sign of the times. Bank executive with a $4.2M mortgage at prime plus 3% (6%) sells for $3.6M or $600k less than the mortgage owing.
—————————————————————–
Bought for $4.1. Asking for $5.3. Settled for $3.6

Seller is “Head of Strategy & Planning at HSBC Canada”

Bank insider rushing for the door, willing to take $600k loss.
What does he know?
Bottom falling out…
https://mobile.twitter.com/VanRELeaks/status/1134924466318786560

patriotz
Member

Even worse than that, BC Assessment says previous sale was Jan 16, 2016, $4,407,900. Picture on website appears to be previous structure.

https://www.bcassessment.ca//Property/Info/QTAwMDAyOTNOMA==

YVR
Guest
YVR

It looks like he built a $1.8 house after buying the property. The guy is probably into this house for close to $6M. More surprising to me is this is the number 3 guy at HSBC Canada and he is paying 6% for his mortgage. The interest on that mortgage alone was $250k per year. He probably makes enough to eat the loss but it makes you wonder if this guy is in this situation how many out there are worse off and can’t afford to take the loss to get out like he just did.

Werner Stein
Guest
Werner Stein

The blog jester says:

“If you can do math, 12 months population inflows means we need 25,000 condo units per year. Is that happening?”

I guess this is an irrefutable confirmation that the whole world is coming to Vancouver, because it is the best place on earth, it then follows the we are running out of land, and of course we should purchase now while we can, because as we all know, they aren’t making any more of it.

But I take it to mean that it is a good time to buy a Tim Horton franchise, because going forward, there won’t be a shortage of labour to fill those low paying positions.

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

Math does not add up..

Its been shown added supply does not create affordability, at least in past RE market.
However, a glut of units appears to be on the horizon…and we are just seeing the tip of the iceberg re: project cancellations.

The economy is slowing…businesses are either closing or chased out by redevelopment.
Immigrants will be under far more scrutiny.

Given the above….what is there to attract inflows ?

southseacompany
Member
southseacompany

As has been pointed out by many, over the years, we have been building more than our population growth in Metro Vancouver;

Metro Vancouver’s net increase in dwelling units has surpassed the net increase in household formation by an average of 20% for the last 15 years.

2001-2016 Net Dwelling Unit Grow: 241,336
2001-2016 Net Household Growth: 202,184

That is what has been happening.

(Source: Metro Vancouver Housing Book and The Housing Supply Myth, Dr. John Rose, Kwantlen Polytechnic University, Nov. 24, 2017)

Oracle
Guest
Oracle

Wrong Mr Realtor

Where are the 130,000 foreign students in BC in your stats?

The 50,000 who overstayed their visas

Or the 200,000 ten year visa holders here at any given time.

Doomcouver
Guest
Doomcouver

Exactly. We’re overbuilding for actual demand, under-building for this transient speculator demand. What that means is there’s a massive overhang of inventory that could flood the market at any time.

Oracle
Guest
Oracle

There a reason we are 2nd most expensive place on earth Einstein.

Laibach
Member
Laibach

Yep, because the free laundry and park services for Chinese as is in Hong Kong, Sidney… and follow the list.

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

Anybody have a handle on those SFH on North East corner of BURRARD and W 16th ?

A number of heritage homes that were gutted back to the framing ..but then nothing done for several months.
Developer claim is ” SOLD OUT “.

bullwhip29
Guest
bullwhip29

i drive by that intersection several times a week and haven’t seen any progress for quite some time. what is the definition of SOLD OUT anyway? ie. builder might have deposits and a few signed sheets of paper (from buyers that may very well be anonymous) but given the changes that have occurred since project was green lit, there is still no assurance it ever gets finished

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

I’ve also noticed many “Asian “run projects seem to get to framing…roof -on stage, ….NO windows…then simply stop for weeks…. even months. WTF ?

Oracle
Guest
Oracle

You get to pick finishing.

Windows, doors, flooring, counters etc.

Simple Solution
Member
Simple Solution

I think the bigger issue is that that is the stage where things get expensive….When the cash stops flowing the building just stops.

Have 2 houses in the neighbourhood that have been waiting for windows for almost a year now….

Canada is for Canadians
Guest
Canada is for Canadians

Most boomers likely won’t downsize for another 20 years — too late for millennials

https://globalnews.ca/news/5345954/boomers-not-downsizing/?utm_source=Article&utm_medium=MostPopular&utm_campaign=2014

“Forget moving to a smaller home at 65. Boomers, many of whom are now hitting their 60s, aren’t expected to start downsizing in a meaningful way until at least 2040 or later, when many will be in their 80s, ”

so what will happen is that by 2040 or later the millennials won’t care and will have already bought whatever and then the boomers will have no one to sell to … the joke will be on the greedy boomers.

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

Greedy Boomers?

….not many generation have the advantage of timing their births.
Many Boomers got F*cked over in the 1980’s with 20+ % interest rates..and entering a bad job market…and later competing against HAM since mid 1980’s. Boomers overall did not have an easy ride.

My guess is Boomers will simply turn their homes into suites (for children ?)and/ or AirBnB.
No more FOMO and thus little if any debt for millenials.

GT blog had a discussion on how CRA assesses suites, which may play a factor, but that’s what I predict.

Canada is for Canadians
Guest
Canada is for Canadians

I am a Boomer and I can tell you I’d rather be a Boomer than a millennial. The 1980’s were not that tough and I had loans at over 16% and no I am not greedy but the Millennials got screwed over by globalization. HAM existed back then but it was not a major factor like it is today.

Best place on meth
Member
Best place on meth

Boomers and millennial should go to war.

Both are annoying as fuck.

Doomcouver
Guest
Doomcouver

Yeah exactly if we could get house prices from the 80s in inflation adjusted terms I’d take 20% mortgage rates. Wouldn’t even have to think about it that’s a no-brainer.

Oracle
Guest
Oracle

Exactly.

Millenials need to demand lower immigration.

If they don’t, they are screwed AND the boomers will be screwed when the welfare state starts falling apart. By that time too late.

Simple Solution
Member
Simple Solution

the fall of the welfare state has begun. Our almighty “free healthcare” is a mess already.

Shocking really, doctors and nurses cant afford to live in the city so there are shortages?

I am actually old enough to remember when these were great jobs.

Oracle
Guest
Oracle

Fall has begun for Simpletons like you.

When I go overseas, I get all my health tests done for a tenth of the cost here. With those in hand, I can jump to the front of the queue when back in Canada.

If healthcare is privatized, I really don’t care as I have access to a network overseas. That’s the advantage of being a globalist family.

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

You’re so full of shit I’m embarrassed for you.

Specuskeptic
Member

I’m not embarrassed for the jackass at all. He’s not, so why should you be? Absolute shamelessness.

Oracle
Guest
Oracle

How’s the panties MF? And you know what that stands for.

I usually don’t swear at people anonymously (what’s the point) but you are a special MF.

PS. If you’re really a bad MF, and are trying to find me, I hope you do and I’ll tell you what’s up. Do you think I’m that stupid to not know who people here are?

Specuskeptic
Member

First you ask “how’s the panties?” and then you proceed to lose your fucking mind. Oblivious and hilarious…

Specuskeptic
Member

Is lithium cheaper out there? Get a bucket load. It will help.

Simple Solution
Member
Simple Solution

The bullshit you spew is amazing… shit like this proves you have no idea what you are talking about.

Oracle
Guest
Oracle

GT knows nothing. He is a flake.

I’ve talked to CRA regarding suites and they say hey can’t do anything as too many details involved when people not reportin rental income or capital gains.

Simple Solution
Member
Simple Solution

You spoke to CRA? and they told YOU that they CANT do anything?

and you wonder why people think you are a lying moron

Oracle
Guest
Oracle

Yup. Went off on a rant with some guys that do audits.

They smiled and basically said they can’t. Because of the numerous details.

Oracle
Guest
Oracle

And Simple, no offence but your posts show that you struggled in school and/or didn’t make it that far.

Really sucks but time for you to grow up.

Simple Solution
Member
Simple Solution

No offence taken. Im just happy to be here getting all of your knowledge.

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

Let me guess – they didn’t elaborate on these “details” so you can’t provide any?

Wow just wow.

Oracle
Guest
Oracle

Hahaha. Don’t let YVR own you with pathetic retorts like that.

Specuskeptic
Member

Do you honestly believe anyone, I mean a-n-y-o-n-e on this forum believes a fucking word you type? The delusion is deep with you.

Oracle
Guest
Oracle

A know it all who has never bought and never will. Hahahaha. Weirdo.

Best place on meth
Member
Best place on meth

You talked to someone at CRA in person, or over the phone?

YVR
Guest
YVR

“Forget moving to a smaller home at 65″

If they need the money to retire then selling at 65 seems more likely than in their 80s. Especially with HELOCs today many of these boomers will still have a mortgage at 65. Selling won’t be a choice.

Oracle
Guest
Oracle

50% of the boomer couple will die sooner than the other half.

When there is a senior widow left, if they have significant equity in their home, they better pay for their healthcare and care homes.

We live in a changed world now. No sympathy for them since the boomers had none.

Kahwi me a river.

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

SIDA…

Is that you stage
……or in audience ?

https://www.youtube.com/watch?v=4CVFOnmW6v8

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

From VanRE flip flops

https://twitter.com/mortimer_1/status/1092649792621015040

This is next generation of info…owners of multiple properties bailing
======================================================
WINBRIGHT ENTERPRISE LTD. unloading 4 properties in Richmond…

#1: 8660 LESLIE ROAD
Bought 2017 $1,370,000
Now asking $1,500,000
Assessed: $1,454,500

#2: 10275 MCLEOD COURT
Bought 2017 $1,520,000
Now asking $1,688,000
Assessed: $1,474,000
Vacant

#3: 8260 ASH STREET, Richmond
Bought 2017 $1,510,000
Now asking $1,398,000
Assessed: $1,380,900
Vacant

#4: 9420 MCBURNEY DRIVE
Bought 2018 $1,200,000
Now asking $1,388,000
Assessed: $1,315,000
Vacant

Shit It Down Already(Original)
Guest
Shit It Down Already(Original)
WTF??? So THAT’S why they were here! Chinese soldiers are spotted loading their ships with a truckload of highly sought-after BABY FORMULA during their five-day visit to Sydney –Chinese soldiers have been spotted loading their ships with baby formula –Three Chinese warships made an unannounced visit to Sydney on Monday –Chinese officials were snapped loading boxes of baby formula on Thursday –Baby formula is a highly sought-after product in Australian supermarkets –International demand for formula comes after the 2008 milk scandal in China –The three warships ships sailed out of Sydney on Friday afternoon after stopover QUOTE: Australian baby formula has been a highly sought-after product in China over the last few years following a milk scandal there in 2008. Melamine, an industrial chemical, was found in locally made milk and baby formula, leading to the deaths of six children.… Read more »
Specuskeptic
Member

Solid interview with Ian Young from “The Early Edition”

https://www.cbc.ca/listen/live-radio/1-91-the-early-edition/clip/15716204-ian-young

“People for too long have treated their homes like piggy banks. They need to break that mindset. A home is primarily a home.”

Yes and yes.

Crash
Guest
Crash

That twerp doesn’t know which end is up with this market even though he pretends to.

Best place on meth
Member
Best place on meth

Ian’s unabashed contempt for the prototypical greedy, home owning Vancouverite is delightful.

We live in a city full of incredibly annoying douchebags.

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

Suggesting it may be better to create more demarcation…

Yeah..a lot of people took the bait and tried to win the RE lottery……but I don’t see why someone who has owned a residence (ie SFH…..Condo etc.)for say 30+ years should be lumped in with those that inflated the market and impacted affordability.

It’s this type of owner that can “afford” to sell cheaper ….and set the ultimate ” correction ” benchmarks.
Lumping every property owner as some sort of greedy @sshole is neither fair nor accurate.

Specuskeptic
Member

BPOM: “We live in a city full of incredibly annoying douchebags.”
ShIDA: “Lumping every property owner as some sort of greedy @sshole is neither fair nor accurate.”

City full of douchebags ≠ Lumping every property owner as some sort of greedy @sshole

I stand by my assertion that you often struggle with reading comprehension.

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

spasticskeptictank

QUOTE:
I stand by my assertion that you often struggle with reading comprehension.

EDIT it down to ” I stand by my ass ” to reduce carboner tax.

Specuskeptic
Member

OK. I get it. You are a very simple person.

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

SIDA….Your de -baiting skills are awesome

Specuskeptic
Member

Lay off the booze. You don’t even know who you’re arguing with.

Looking like the problems go waaaay beyond reading comprehension.

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

OK SIDA…we get it….
PhD in English Lit and a realtor wannabee.
PS: At least be creative with your limp -wristed retorts…

Specuskeptic
Member

It’s clear your fragile ego insists you get in the last word. Prove me wrong, bitch.

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

LOL.

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

You 2 bitches need a crowbar.

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

You should probably stick to bathroom humour.

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

OK..

……bye bye SIDA and you- know -who

flusshhhh

Best place on meth
Member
Best place on meth

“I don’t see why someone who has owned a residence (ie SFH…..Condo etc.)for say 30+ years should be lumped in with those that inflated the market and impacted affordability”

It’s the fucking whining from these 30+ year home owning fossils about losing equity that they never earned .

Their first world problems make everyone want to throw up.

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

How many of these whining fossils do you know ?

Personally…I haven’t heard anyone whine about” lost equity “……majority of people who own PR may look at their assessment..maybe complain about taxes due soon ….and wait till next year.

ULTIMATELY/OVERALL…Somebody has to own each piece of RE ….and there are numerous individual paths to the aforementioned…..otherwise we may have what happened to Russians under Bolsheviks.

Choose your poison…

Royce McC
Guest
Royce McC
“How many of these whining fossils do you know ?” I have met many. Unless they have a kid who has tried to raise a family here and actually taken the time to crunch the numbers on how stupidly expensive things are now, these people are often an absolute fountain of Vancouver real estate cliches: – “Vancouver has always been expensive” – “These are just envy taxes” – “Back in my day, rates were nearly 20%. Today is easy by comparison.” – “Hard-earned equity” – “Millennials act like their entitled to real estate.” – “Maybe Millennials would be able to buy Vancouver real estate if they stopped buying such expensive phones and coffees.” To their credit though, those among them who are willing to sit down and actually review the dynamic of local numbers – salaries, actual carrying costs, challenges… Read more »
Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

No problem…

My point is in my social sphere no-one has complained about lost equity, its not on their radar screen, and many feel its a personal thing like ones’ income.

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

They’re probably in denial about it being lost at all.

Oracle
Guest
Oracle

Maybe that’s at the core of what it takes to be a human being. Survival of the fittest.

If we take their cliches as being correct, then why publicly fund things like health and education out of taxes?? Spare me the society benefit blah blah.

Going forward, nothing significant will be done on housing because doing so involves scaling back in immigration.

so might as well get them to privatize healthcare and education.

Dunt bee stoopid
Guest
Dunt bee stoopid

Ian Young is one of them.

Simple Solution
Member
Simple Solution
SilentBob
Guest
SilentBob

Hope springs eternal.

Doomcouver
Guest
Doomcouver

$4 million is barely scratching the surface. Get back to me when they seize $4 billion.

patriotz
Member
https://www.theglobeandmail.com/opinion/article-life-is-full-of-uncertainties-your-property-tax-shouldnt-be-one-of/ “So if services consumed have little to do with assessed value, and certainly nothing to do with change in assessed value, we should find a better way to assign the property-tax burden. A good place to start would be through physical characteristics of the home, for instance through square footage.” This is crazy. He is basically saying we should tax improvements but not land. First of all this would result in a massive shift of tax burden away from the rich parts of a city to the lower income parts. Second, it would encourage the hoarding and underutilization of land, which is the last thing we need. He uses Vancouver as an example, but in fact Vancouver’s property taxes (I don’t mean just the rate, I mean the tax bill) are low by North American standards. He also fails… Read more »
Shit It Down Already(Original)
Guest
Shit It Down Already(Original)

Typical deflection to encourage infighting.

It’s Gov’t SPENDING that’s the issue.

YVR
Guest
YVR

“He is basically saying we should tax improvements but not land. First of all this would result in a massive shift of tax burden away from the rich parts of a city to the lower income parts.”

We are going to see that after the coming assessment which will impact next years taxes. Land has dropped up to 30% but improvements have not gone down much. That means West side homes with mostly land value will get a big tax cut and condos with mostly building value will get a big tax increase next year.

Oracle
Guest
Oracle

Exactly as designed.

Maybe a flat tax property tax coming where condo equals mansion because both have 4 people living in each. Who knows.

patriotz
Member

“We are going to see that after the coming assessment which will impact next years taxes.”

Not even close to what he is recommending. The assessment gap between West and East sides is just reverting to its historical level. He wants to eliminate it altogether.