you are just not old enough

For the grad class of 75 the buds would act like idiots drinking smokin partying hard working/quiting jobs, UIC ski team, eventualy become responsible enough to buy a new transam or Z/28, if they didn't crash it become even more responsible and sell the car for a down payment on a house in north burnaby or coquitlam

The difference is they sold their toys to buy a home. Nowadays everyone is so entitled that nobody wants to give up those things. I actually watched an interview on global with a woman covered in Tattoos smoking a cigarette bitching about not being able to afford an appt downtown. Major face palm

Totally different game nowdays

Back then we didn't worry about fur-iners buying up the city, hell china was still communist,jobs were everywhere [HTML_REMOVED] beer was a quarter

Now china is full of millionaires cuz thats where we buy all our stuff, still its sketchy as hell so get the money out but look at all the shit in the world that has failed as an investment so what do my people wana invest in … Vangroovy! a world class place to invest in realestate!

So if you didn't get in the game its just too bad cuz its too late, the 15% tax makes it appear that the libs did something and it has cuz the heat is off, but really its like throwing a super tanker into reverse … its gona take 5 miles to stop

its a good thing I don't wana come back to Van cuz I couldn't afford it and I would be working at 7-11

thedeclineofvancouverites

I agree with your statement about people have themselves to blame thinking this growth is sustainable. That being said you can't fault people for trying to build on their retirement by jumping on this train only to have their own govt derail their plans with the new tax. It is a disappointment.

I guess my whole point about what's going on is that these crazy prices are only a few years old (albeit Vancouver has always been expensive). If the market were to crash tomorrow I highly doubt the people bitching about the prices today and saying they can't afford to buy would actually buy. I feel like people are using foreign investment as a crutch to excuse their own bad decision years ago.

I hear your pain.

Though I am thinking that a major correction was on the way regardless of the Christy tax. Just like some using foreign investment as an excuse one way - there will be people using the tax as an excuse as to why their purchase of 4 pre-sale condo's at at time strategy didn't work.

I get the strong feeling that what happens down their is going to affect our prices up here. Which sucks - we don't have an influx of foreign buyers (any more than normal). The cost of housing is up but not exorbitant.

At the end of the day though - if you have a house to live in, you can afford the mortgage comfortably (better yet you got it paid off) - you do not have to be concerned about what someone might or might not be willing to pay you for it. Just like it is a bad idea to get caught up in the day-to-day fluctuations of your R.R.S.P.

At the end of the day though - if you have a house to live in, you can afford the mortgage comfortably (better yet you got it paid off) - you do not have to be concerned about what someone might or might not be willing to pay you for it. Just like it is a bad idea to get

I think this is the important thing to remember. Unless you bought your first house at 60 it is pointless to worry about how today's market will affect your retirement "investment".

Its too late baby

But if you worked hard and kept the money you spent on all those new bikes 15-20 years ago you would already have a house and you could be just as smug as me

edit: BTW I paid for the right TO be smug with restraint and sacrifice, I duno what happened to all them purple anodized parts you spent the $$$$ on

Thanks. We're financially sound. Societally speaking, we are not sound and it's going to impact me way more than if I bought new bikes every year (I still kinda do, but that's besides the point).

Again, people struggle looking past their noses.

To me, the profit comes from not having to rent forever once its paid off. That's easier to do with lower valuations.

And you don't have to whine about how unfair things are!

Ian Young from South China Morning Post

http://app.scmp.com/scmp/mobile/index.html#/article/2005794/desktop

Says that CRA knew about the foreign money problem over 20 years ago, were specifically warned and made a choice to do and say nothing.

BOOM.

What's racist about asking people to obey the law and pay income tax on their global income? The law is clear. What does paying all that tax buy you? It buys you all the things that make Canada a good, stable, peaceful place to live. So suck it up and pay your debt.

Federal and provincial governments have been letting us down for 30+ years, of all stripes.

A compounding problem is that the tax return and census data from these neighbourhoods where people are claiming average household incomes of $23,000 is skewing the delivery of ancillary social services. Everything from transit to health care is being impacted by this and it is cheating those who are playing by the rules out of the ability to actually receive social benefit.

and governments at levels and of all colours continue to ignore it.

http://www.scmp.com/comment/blogs/article/1851003/bizarro-vancouver-25000-households-declare-less-income-they-spend

Too bad those maps don't show Richmond.

Too bad those maps don't show Richmond.

dont need a map when the whole thing is covered…

http://www.zerohedge.com/news/2016-08-18/vancouver-housing-market-implodes-average-home-price-plunges-20-1-month-market-devas

http://globalnews.ca/news/2887766/data-is-the-metro-vancouver-real-estate-market-in-free-fall/

Perhaps a touch alarmist, but c'mon, when you're kissing 4 standard deviations out from the norm, mean reversion is gonna smack yo'ass like nobody's business eventually.

IMHO, YMMV.

Ian Young from South China Morning Post

http://app.scmp.com/scmp/mobile/index.html#/article/2005794/desktop

Says that CRA knew about the foreign money problem over 20 years ago, were specifically warned and made a choice to do and say nothing.

BOOM.

Lets all just save and not buy bikes!

Lets ignore this;

However, these buyers only declared average household incomes of about C$23,000, compared to more than C$368,000 for the handful of long-term Canadian residents who bought in the same price brackets.

Heck!

Its working out awesome so far, declared incomes still low $20's, only houses are now $1,500,000+.

Yah totally a case of entitled Canadians.

This year end I'm going to e-mail the government and tell them:

Dear CRA,

I'm not going to pay my taxes this year because y'all acting really entitled to my tax dollars. And, oh yah, tens of thousands in Vancouver do it and its been cool since 1996, so I assume were all good?

Cheers!

Ill report back on how well this works for me.

A US fed interest rate hike would be perfect timing right now. Let's hope.