The Decline of Vancouver.
Posted by: tungsten
This is our generations claim to fame.
Out on the road today, I saw a Deadhead sticker on a Cadillac.
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I had a Cadillac. But all the Deadhead stickers were on my brothers '65 VW micro bus.
Though MIT urban studies professor Phillip Clay had in 1979 defined gentrification as a four-stage process, Moskowitz points out there is a 0 stage where cities open themselves up to real estate speculators. In 0 stage cities start “gentrification through zoning, tax breaks, and branding power.” The book argues that that central to gentrification is cities adoption of housing policies benefiting only real estate developers.
Sound familiar?
Last edited by: tungsten on Jan. 10, 2018, 8:44 p.m., edited 4 times in total.
More people doing the analysis our government officials would rather we wouldn’t do.
Posted by: ReductiMat
More people doing the analysis our government officials would rather we wouldn’t do.
Way back when I was signing the tune that foreign buyers were having a crippling effect on our housing market a lot of people weren't buying it or saying the numbers were too small (or that it was "racist" to say things like that. I argued that one of the dangers was the off-shore buyer who was willing to way overbid and have no conditions on their offer which put significant upward pressure on prices.
From the article:
"When 10 "local" buyers for a unit get outbid by a big offer from offshore, the winning bid has just set the benchmark for what prices can be achieved – and this will subsequently affect buyer and seller behaviour, especially if that dynamic is as substantial as the "flow" data indicate. This means that a modest number of buyers can have a major impact on the market."
Last edited by: syncro on Jan. 11, 2018, 8:27 p.m., edited 1 time in total.
...meanwhile over here Vancouverites are doing the same damn bidding on our houses, so we pulled out of the market for a while to let things cool.
In our case it worked out: the new house didn't attract the attention of well-heeled off-island foreigners of any kind but the duplex we sold did. Got a real nice price from a couple with Vancouver money that didn't want to miss out on yet another place. The knife cuts both ways I guess.
Last edited by: tashi on Jan. 12, 2018, 8:50 a.m., edited 1 time in total.
Posted by: tashi
...meanwhile over here Vancouverites are doing the same damn bidding on our houses, so we pulled out of the market for a while to let things cool.
In our case it worked out: the new house didn't attract the attention of well-heeled off-island foreigners of any kind but the duplex we sold did. Got a real nice price from a couple with Vancouver money that didn't want to miss out on yet another place. The knife cuts both ways I guess.
Yeah, but don't forget that's an effect of people getting pushed out of the Vancouver market. There are people leaving Vancouver based solely on housing costs and relocating in BC seems the next logical step. I see migration as much less of an issue that immigration.
Yep, the shit rolls downhill.
Just gotta be the dung beetle if you want to stay while your home gets expensive.
Posted by: Endur-Bro
is that even legal
Posted by: Endur-Bro
Remember when David Eby was the only sane voice here? Yeah, he's now the AG. Please email him and ask him his opinion on Endur-Bro's last link.
I haven't yet, and I really hope I'm fucking wrong, but I suspect I'm not gonna be.
Stop voting for political parties you dumb cunts.
This is definitely worth a listen - lots of juicy details including how the liberals were well aware of the shenanigans going on with Vancouver r/e. Of course it without saying the majority of the perpetrators of this fraud are Chinese.
The most staggering fact in this interview is that there are over 200,000 households who declare less income that what their yearly property taxes are. Let that detail sink in for a moment.
https://omny.fm/shows/the-jon-mccomb-show/immigration-fraud-tax-avoidance-real-estate-scheme
Well if foreign buyers were banned, would that not drop really state prices? (It might correct the market somewhat) That might put some folks in trouble. Those who put themselves out there too far financially. That being said, I think if Weaver & Horgan met somewhere in the middle on this, that may be the answer. Work towards an eventual ban perhaps.
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