All posts by VCI Admin

How do you talk about foreign buyers without being racist?

A growing issue in Vancouver real estate is that of foreign buyers. Statistics Canada claims that non-resident foreigners own 7.6% of the value of homes within the city of Vancouver.

Now clearly it is possible to talk about this issue without devolving into racist generalizations and hate, but some commenters on this site have a very difficult time doing so.

There are a number of parties that have no interest in changes to the current market and these parties are served best by angry racist rantings.  What better way to distract from the issue at hand and paint any discussion of foreign buyers as racist?

So good job you knuckle-heads, those that profit in a run-away housing bubble thank you!

 

Friday Free-for-all! January 12th 2018

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

Detached sales hit low of 2008
Vancouver Titanic
Snow-washing
Central banks reverse QE
About that NZ buyer ban

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

No plan to prohibit foreign buyers

Bullwhip29 points out that BC Finance Minister Carol James has no plans to prohibit foreign buyers in BC.

Foreign buyers who want to buy residential real estate in Metro Vancouver pay a 15 percent tax.

Meanwhile, Finance Minister Carole James has no intention to outlaw foreign buying of B.C. homes when the NDP government introduces a series of policies in the next couple of months to address the high cost of housing.

James has said that there will be no ban like the one that exists in New Zealand.

B.C. Green Leader Andrew Weaver, on the other hand, has demanded an outright ban on foreign buying of residential real estate to curb demand. And he wants James to introduce this in her upcoming budget.

Read the full article over at the Straight.

Interest rates shoot higher

Southseacompany pointed out this article about rising interest rates around the world:

The bond market is getting a wake-up call from global central banks that the post-financial crisis era of easy money and super low interest rates is coming to an end.

In what was a sizzling move for the Treasury market, the 10-year yield zipped higher Tuesday amid talk that the Bank of Japan could finally be ready to wind down its easy policies. The 10-year yield broke above the key 2.50 percent level and was trading as high as 2.55 percent, the highest since March.

The 10-year is key since it is a benchmark that mortgages and many other consumer and business loans are based on.

Read the full article here.

Friday Free-for-all!  January 5th 2018

We have a very special Friday free for all to kick off the new year.  This is our regular end of the week news round up and open topic discussion thread for the weekend, but this ones special because it comes on a Saturday! 

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