at least that's kind of a nice house.
Within a month, those wood floors will be in the back of a pickup truck headed to a waste yard.
The Decline of Vancouver.
I think it's a safe bet Christy will do everything in her power not to change a damn thing until Vancouver is a ghost town and all the schools are privatized…
In the BC economy the housing sector revenue is more than forestry and mining combined. Given the state of our LNG play, do you think any gov't would move to cool housing in such a situation ? We're hooked on stuff like property transfer tax to pay for uncle Sid's Lipitor and the like.
Add in the fact the Harper bet it all on oil, there's little driver for higher interest rates in our petro-state national economy.
So in terms of the next 18mo, I'd love to hear from tinfoil hat corner on what will cause a persistent correction in VanRe? Bonus points for saying the same things said in 2011..
NSMBA member.
I think the only things now that would stop Van prices from rising even more would be:
- the economic collapse of China
or
- The Chinese gov't getting serious about cracking down on the money leaving their country.
I don't forsee either happening anytime soon. Even if one or both of those occurred tomorrow, the prices in Van wouldn't suddenly drop a lot, they'd just stop rising by such absurd amounts monthly.
The best things in life all start with the letter B
Hooray for: Bacon, Bikeys, Boobies, Boards, and Beer!
In the BC economy the housing sector revenue is more than forestry and mining combined. Given the state of our LNG play, do you think any gov't would move to cool housing in such a situation ? We're hooked on stuff like property transfer tax to pay for uncle Sid's Lipitor and the like.
Add in the fact the Harper bet it all on oil, there's little driver for higher interest rates in our petro-state national economy.
So in terms of the next 18mo, I'd love to hear from tinfoil hat corner on what will cause a persistent correction in VanRe? Bonus points for saying the same things said in 2011..
If people are going to tell us what's going to happen in the future, I'd prefer to know the lotto max numbers. I'll take those from anyone, not just the tin foil crowd.
I think the only things now that would stop Van prices from rising even more would be:
- the economic collapse of China
.
That already happened, and everyone who wasn't toiling in a coal mine is moving their money out.
http://www.cbc.ca/news/world/china-zombie-economy-layoffs-petricic-1.3473002
http://fortune.com/2016/01/23/china-collapse/
https://www.ishares.com/us/products/239619/ishares-msci-china-etf
- The Chinese gov't getting serious about cracking down on the money leaving their country.
I don't forsee either happening anytime soon. Even if one or both of those occurred tomorrow, the prices in Van wouldn't suddenly drop a lot, they'd just stop rising by such absurd amounts monthly.
There you may be right, but who makes the laws? - the rich who need to get their money out.
I'd love to hear from tinfoil hat corner on what will cause a persistent correction in VanRe? Bonus points for saying the same things said in 2011..
People have been saying Van RE was overvalued since 2003 and we are due for a correction. This was coming right out of 1997-2002, the market was completely flat, basically zero growth in home prices for 5 years. In the end, all bubbles go to excess as people cash in, so there probably will be a correction of some kind. Whether it a housing downturn or wide-scale loan defaults we will just have to wait and see.
There you may be right, but who makes the laws? - the rich who need to get their money out.
Its easy to move cash around. All you have to do is use some of the cash to grease the wheels.
Holy shit. Can this get any more crazy? Clearly something is broken. Globalization and capital outflow is destroying this place.
I am thinking about selling my $3M home and paying off my $1M debt and moving to a place with less N's on Cayennes.
:o
Wrong. Always.
I am thinking about selling my $3M home and paying off my $1M debt and moving to a place with less N's on Cayennes.
:o
you rich bitch!
anyone want to warrant a guess what will happen to RE prices across BC when the Liberals legalize marijuana? I'm predicting alot of people might suddenly have a hard time paying their mortgage, at least in rural communities. I'm curious as legalization/taxation will bring the gov't more money but take alot out of the black/grey market
anyone want to warrant a guess what will happen to RE prices across BC when the Liberals legalize marijuana? I'm predicting alot of people might suddenly have a hard time paying their mortgage, at least in rural communities. I'm curious as legalization/taxation will bring the gov't more money but take alot out of the black/grey market
those kinds of people should probably be positioning themselves to capitalize on legalization. if they aren't, well, they aren't forward thinking business people, they were just opportunists capitalizing on illegality.
you rich bitch!
The amounts in the above example are purely hypothetical. I am not truly a rich bitch.
:crybaby:
Wrong. Always.
anyone want to warrant a guess what will happen to RE prices across BC when the Liberals legalize marijuana? I'm predicting alot of people might suddenly have a hard time paying their mortgage, at least in rural communities. I'm curious as legalization/taxation will bring the gov't more money but take alot out of the black/grey market
Must be a bummer to have tax free income source dry up. No sympathy here.
Must be a bummer to have tax free income source dry up. No sympathy here.
No shit. Jail them for income tax evasion.
Wrong. Always.
Plus ca change, plus c'est la meme chose.
http://thetyee.ca/Opinion/2016/04/06/City-Corporate-Influence-Real-Estate-Greed/
On April 6, 1886, B.C. lieutenant-governor Clement Francis Cornwall signed the Vancouver Incorporation Act, with the stroke of a pen transforming a rough-and-tumble logging village into a bustling port city. It's a date often honoured with lavish civic celebrations embracing the now-familiar narrative of Vancouver's seamless transition from Milltown to Metropolis.
But Vancouver's birth was far less wholesome than the tourist brochures might suggest. The city was created thanks to land-grabs, cronyism, property speculation and corporate pressure - much of it from the largest company of the day, the Canadian Pacific Railway.
"No question, [the CPR] were the major corporate influence on the development of Vancouver," notes historian Daniel Francis. "It had members on city council - at any one time, there was somebody who was at least loosely connected to the CPR, to make sure its interests were looked after," he says. "In the history of the city, decade by decade, one finds its pervasive influence continues - usually related to real estate, but that's always what Vancouver's been about."
There's no question today's city policy is guided by commercial interests - in Vancouver's case, primarily real estate developers, who have spent decades contributing to municipal political parties.
But that's nothing new. Corporate meddling produced the city's name, its layout, its streets and even its very existence.
etc…
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
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