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The Decline of Vancouver.

Sept. 27, 2016, 6:08 a.m.
Posts: 4329
Joined: Oct. 24, 2005

http://www.msn.com/en-ca/money/topstories/vancouver-named-as-the-financial-center-with-the-world%E2%80%99s-riskiest-housing-bubble/ar-BBwGxDI?li=AAgh0dA[HTML_REMOVED]ocid=mailsignout

The best things in life all start with the letter B
Hooray for: Bacon, Bikeys, Boobies, Boards, and Beer!

Sept. 29, 2016, 12:36 p.m.
Posts: 5635
Joined: Oct. 28, 2008

Hey, what's the deal with the COV outlawing Natural Gas? Just came out of nowhere!

Wrong. Always.

Sept. 29, 2016, 2:45 p.m.
Posts: 1084
Joined: May 29, 2003

Hey, what's the deal with the COV outlawing Natural Gas? Just came out of nowhere!

They want to mandate 'greener' alternatives in new constructions. Getting off of baseboard heaters, electrical/gas boliers kinda thing and generally make it harder for gas as part of a long term phase out. They've been pushing for this for a while now which is all well and fine, but two things.

1 - One of the big alternative they're pushing for: wood-fired pellets in boiler systems. I shit you not. Rationale is that wood pellets are renewable. :crazy:

2 - VP of Fortis attended a council meeting some time ago and spoke to council/answered questions about gas. He was the last to speak, gave his two cents and had his comments completely struck from the council meeting record.

Sept. 29, 2016, 3:11 p.m.
Posts: 16661
Joined: Nov. 20, 2002

Hey, what's the deal with the COV outlawing Natural Gas? Just came out of nowhere!

The deal is, they are doing no such thing.

There will be a push for other alternatives, such as biogas but that will be more based on incentives not anything like an attempt to 'outlaw' natural gas.

http://www.cbc.ca/news/canada/british-columbia/vancouver-natural-gas-ban-2050-1.3775085

When one person suffers from a delusion, it is called insanity.

When many people suffer from a delusion, it is called religion.

Sept. 29, 2016, 4:49 p.m.
Posts: 7707
Joined: Sept. 11, 2003

Hey, what's the deal with the COV outlawing Natural Gas? Just came out of nowhere!

You're thinking of the proposed the law to outlaw oxygen. No oxygen, no combustion, no C02. Its simple. I, for one, look forward to an Oxygen-Free future.

Sept. 30, 2016, 7:44 a.m.
Posts: 3
Joined: July 4, 2003

One of the most efficient ways to reduce housing costs is to create the most convoluted permitting and building code system known to man.

It is proven fact, that when fully and completely confused, trades at the mercy of city inspectors, do some of their most efficient and inexpensive work.

Uncertainty and complications are known to be primary drivers of lower costs.

Oct. 1, 2016, 6:01 p.m.
Posts: 6104
Joined: June 14, 2008

One of the most efficient ways to reduce housing costs is to create the most convoluted permitting and building code system known to man.

It is proven fact, that when fully and completely confused, trades at the mercy of city inspectors, do some of their most efficient and inexpensive work.

Uncertainty and complications are known to be primary drivers of lower costs.

Just so everyone knows, this is sarcasm at its finest!

Oct. 3, 2016, 12:51 p.m.
Posts: 809
Joined: Dec. 22, 2002

So Feds just tossed the principal residence exemption for non-residents. I wonder if this will keep them from bringing in busloads of foreigners from YVR to the Brentwood pre-sales office? What will this do for transactions in process?

Bumpy ride ahead..

NSMBA member.

Oct. 3, 2016, 1:46 p.m.
Posts: 0
Joined: Dec. 27, 2002

Good! Keep the countermeasures coming.

Oct. 3, 2016, 1:49 p.m.
Posts: 33645
Joined: Nov. 19, 2002

Meanwhile builders planned on foreign buyers and they now will go bust.

It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.
- Josiah Stamp

Every time I see an adult on a bicycle, I no longer despair for the future of the human race.
- H.G. Wells

Oct. 3, 2016, 1:54 p.m.
Posts: 14115
Joined: Nov. 19, 2002

Good! Keep the countermeasures coming.

exactly…:rave:

Oct. 3, 2016, 1:57 p.m.
Posts: 14351
Joined: Feb. 19, 2003

Meanwhile builders planned on foreign buyers and they now will go bust.

https://www.sadtrombone.com/

Oct. 3, 2016, 2:41 p.m.
Posts: 1532
Joined: Nov. 23, 2002

https://www.sadtrombone.com/

that took two clicks worth of effort - totally not worth it.

.

Luck is what happens when preparation meets opportunity ~ Seneca

Oct. 4, 2016, 7:13 p.m.
Posts: 1600
Joined: Jan. 20, 2003

So Feds just tossed the principal residence exemption for non-residents. … What will this do for transactions in process?

Bumpy ride ahead..

More interesting than that will be what happens with the new mortgage regulations. People put downpayments on pre-sale condos based on pre-approval at today's stress testing, which is based on the lowest lending rate. Meanwhile, when their closing date comes, they will have to requalify at the new regulation, which is based on the 5 year rates. They may not qualify, if they originally maxed out, or what if the condo drops in value between now and closing?

Interesting times ahead for sure.

:canada: :swiss:

Oct. 4, 2016, 10:35 p.m.
Posts: 809
Joined: Dec. 22, 2002

More interesting than that will be what happens with the new mortgage regulations. People put downpayments on pre-sale condos based on pre-approval at today's stress testing, which is based on the lowest lending rate. Meanwhile, when their closing date comes, they will have to requalify at the new regulation, which is based on the 5 year rates. They may not qualify, if they originally maxed out, or what if the condo drops in value between now and closing?

Interesting times ahead for sure.

Many Canadians didn't like the socialization of the risks taken by those who will no longer meet the stress tests. So pain for those risk takers, but they're not the masses who re-elect governments. If lots of condo projects don't get built b/c foreign buyers bail for another jurisdiction, the fall-out to watch for is the trades job losses. BC's economy is hinged on the business of building and selling housing, and we're the #1 provincial economy right now. How scary is that?

NSMBA member.

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