Tag Archives: housing

Government complicit in fueling housing crisis

A recent report out of SFUs school of public policy is generating headlines that are rather extreme:

Foreign buyers crushing Vancouver home dreams as governments do little.

“People recognize what’s going on, and they’re willing to call a spade a spade,” he said, stressing that such views are based on reality, not racism.

His report compiles a number of other studies, including data on home-buying trends, population density, the cancelled immigrant investor program, and American research on the same issue.

Gordon said his report blames Vancouver’s housing crisis on foreign buyers, particularly from China, because “this is where the evidence points, not because of some anti-Chinese animus.”

Chinese investors have also spiked home prices in the Toronto region, but Vancouver has seen the highest rise in real estate due to the influx of foreign money reaching an unprecedented level in the last year, he said.

Gordon noted that other countries, including Australia and Singapore, have created policies for foreign homebuyers to protect their own citizens but that hasn’t happened in Canada.

Read the full article over at the CBC.

Friday Free-for-all! April 14th 2016

It’s the end of another 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 for the weekend, here are a few recent links to kick off the chat:

Eby on Real Estate Fraud
Affordable Housing Program
Nothing free-market about boom
Concord Pacific buys Molson land
Gentle jaw-boning for looney
Southseacompany on YouTube
Tricks of the trade
Millennials scramble before priced out
Downgraded growth for Canada
Your parents made money, you won’t
Poloz stuck in corner?
Research Chair escapes from UBC
Harsher penalties needed?

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

Friday Free-for-all!

Welcome!

What time is it? It’s time for yet 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:

BOC rate hike?
Boomers overexposed on RE
Condos finally hot again
Bad ending to housing surge
Hyper-mega-bull called it
middle class housing projects
Fintrac fine for Canadian bank

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

Swimming in debt and bursting with confidence

Low energy prices are a bit of a bummer for a country like Canada, but we’re not worried, we’ll always have real estate!

According to weekly polling by Nanos Research, the share of respondents expecting higher real estate prices reached the most since December 2014 last week, or 38.7 per cent. That pushed the Bloomberg Nanos Consumer Confidence Index to 54.7 last week, the highest this year, from 54.5 previously.

“The main positive driver for the forward look on the economy was the view that the value of real estate would increase,” said Nik Nanos, chairman at Ottawa-based Nanos Research Group.

The only potential downside is that young Canadian families are ‘swimming in debt.  Read the full article over at the Financial Post.

Update on David Eby emergency housing meeting

Did you go to the emergency town hall meeting on housing in Vancouver last night? David Eby hosted with seating for 650, with the CBC reporting attendance of over 700.

“These are serious issues, this is a major crisis, and we want the provincial government to take it seriously,” said NDP MLA David Eby,  who organized it.

The event started with Eby citing a long list of media stories highlighting questionable real estate practices and how housing practices have caused residents to leave the region.

Eby said the region’s real estate is governed by “runaway speculation” that is “unpoliced, unregulated and rampant.”

The CBC article has a live blog from the event if you missed it and are curious. Will events like this have any effect on Vancouver house prices or will non-owners eventually move away leaving the city as a home owners paradise?