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[BigBeauford]

BC government needs to find a balance with not discouraging Mainland Chinese investment into Vancouver as it has been a boom to our economy, with ensuring we collect a lot of tax revenue off the real estate speculation, vacancy, and foreign purchases to create a lot more affordable housing in other areas of the city.

Currently none of that is being taxed effectively.

The bad option is to limit or remove foreign purchases. That would be horrible for our economy.

EDIT - Also, these houses generally aren't staying vacant. The father will purchase it for his son or his wife and they will live there part of the year, usually for school. So hard to enforce anything around that, that's why should focus more on the speculation and foreign purchase taxes to offset and create more housing.

Also Vancouverites complaining about increased housing cost need to let go the detached home dream. If you live in apartments, Vancouver is not nearly as expensive and if you create more affordable apartment housing, the prices should go down further. I'm fine with detached homes being associated with the rich only, because I think we should have no detached homes at all. All apartment skyscrapers.

If you want to live in some gross suburban sprawl just so you can have a lawn and "quiet", then live out east or in the US. Vancouver is no longer for you.

I'll take living in a gross suburb over the dystopian future of trying to raise a family in a 500 square foot apartment.

 

[Gully State]

How's vancouver's rental market? Last year when I was there, my friend was paying 1500 a month for a 2 bedroom 5 year old apartment in burnaby. ..which is nothing compared to how much I pay to live here in west la..

 

[kaitoe]

How's vancouver's rental market? Last year when I was there, my friend was paying 1500 a month for a 2 bedroom 5 year old apartment in burnaby. ..which is nothing compared to how much I pay to live here in west la..

I'm doing the same thing right now, and it's 1800 for a 2 bedroom 5 year old apartment, granted I'm on the ground floor...

I've heard that in cities with similar or more expensive rent, salaries are generally higher compared to Vancouver, but I haven't read up on that too much.

 

[Silver Arrows]

I'll take living in a gross suburb over the dystopian future of trying to raise a family in a 500 square foot apartment.

Considering that's what Tabris does when he isn't shoving his face with brisket or being an 'expert' on Asian culture, I'm not surprised he added that dig in his post. Shows how mature he is when it comes to matters like that and exposes his fuck you got mine mentality.

 

[Gully State]

Not to sound like it's not a shit situation for home ownership but I think the one thing Vancouver and its surrounding area has going for it is that there are apartments being built whereas this isn't happening in SF

 

[Silver Arrows]

Not to sound like it's not a shit situation for home ownership but I think the one thing Vancouver and its surrounding area has going for it is that there are apartments being built whereas this isn't happening in SF

Eventually Vancouver is going to reach the same situation SF is in. Considering that a good chunk of attractive property in the lowlands surrounding Richmond and Delta are under the Agricultural Land Reserve, which is a government stock of farmland that is not to be developed under any circumstances until it reaches a set date, unless it is agricultural.

 

[nicanica]

The rest of the article is pretty nuts.

His phone records indicate the first threatening call came after 10 p.m., from a number used by Ms. Yang’s sister. Ms. Tao confirms Ms. Yang was with her sister that night. The alleged victim says the caller identified herself as Layla Yang, but he did not record that part, because her call was unexpected. Before warning him about her gangster connections, the woman in the recording says, “I’m telling you – don’t … cause me troubles,” possibly a reference to reporting her to the tax authorities.

“To threaten my family and my safety is unacceptable,” said the man, who adds he was in shock. He again compared the activity to trading on the stock market. “I was just telling them my true feelings … if you play stock games, you should pay taxes.”

Ms. Yang’s office sent several text messages to The Globe explaining why she would not comment. “We suggest you contact police not Layla Yang office for this matter. Layla Yang is fully engaged in business day and night and thank you for contacting and trusting our team! We have to dealing with our other business now.”

“Let’s make a Hollywood movie out of this! Pls contact police as needed.”

The alleged victim said he called 911 soon after the calls on the Monday night.

“I was awake the whole night … but they [police] didn’t come,” he said, adding that a Vancouver police constable came by the next night. “I told them, when you don’t come for 24 hours, I could be killed already.”

He says the officer advised him to move to a hotel. Vancouver police refused to comment, because no charges have been laid. After The Globe contacted the police, the alleged victim said, two detectives called him in to give a video statement.

The businessman also complained to the Real Estate Council of B.C., the industry self-regulator. A lawyer from the council contacted him on Wednesday, asking for a copy of the phone recording.

“You complaint will now be assigned to a compliance officer here who will be in touch with you regarding the next steps to be taken,” reads the e-mail from the regulator.

The businessman said that, as a Canadian citizen, he thinks the authorities should take his complaint – and the manipulation and speculation in Vancouver real estate – more seriously.

“I am a residential buyer. I am not a stock buyer. I buy to live,” he said. “Even in China, the government it would control this. I am not sure why they don’t here.”

 

[Gully State]

Eventually Vancouver is going to reach the same situation SF is in. Considering that a good chunk of attractive property in the lowlands surrounding Richmond and Delta are under the Agricultural Land Reserve, which is a government stock of farmland that is not to be developed under any circumstances until it reaches a set date, unless it is agricultural.

I don't think Richmond is close to being packed though... Seems like that area has plenty of space for development. Anyways I completely empathize with Vancouver Canadians especially seeing how cheap real estate there used to be

 

[Pterion]

Considering that's what Tabris does when he isn't shoving his face with brisket or being an 'expert' on Asian culture, I'm not surprised he added that dig in his post. Shows how mature he is when it comes to matters like that and exposes his fuck you got mine mentality.

It's a recurrent theme with rich GAF. These guys are so out of touch with the real world.

 

[Silver Arrows]

I don't think Richmond is close to being packed though... Seems like that area has plenty of space for development. Anyways I completely empathize with Vancouver Canadians especially seeing how cheap real estate there used to be

I've seen a lot more houses in my neck of the woods (Delta) go up for sale and selling quick. And with the Liberals waffleboarding themselves on this issue, it is only going to get worse.

I wouldn't be surprised at some point we see racially charged violence against East Asian realtors, hell even random people. They've found themselves to be the racial scapegoat of this issue.

It's a recurrent theme with rich GAF. These guys are so out of touch with the real world.

I think most of it comes back to Tabris, considering how hard he tries to go after his idol, AKA Patrick Bateman.

 

[anaron]

I agree with Tabris. You should all be grateful to pay 448k to live in a brand new 1 bedroom apartment in Burnaby.

don't forget a living room and kitchen the size of a closet

 

[mdubs]

I bet you post on those creepy skyscraper forums

http://www.neogaf.com/forum/showthread.php?t=1037074

 

[Tabris]

don't forget a living room and kitchen the size of a closet

You should.

North America really needs to adopt Asian urban development. Detached homes should be a luxury to discourage it.

You don't actually need your lawn and isolation. We've been fortunate in North America. It's a luxury not a right.

I also love skyscraper forums.

 

[WaterAstro]

I'm not worried about rising housing problem in Vancouver. It'll be all underwater in a couple of decades.

 

[TheOMan]

BC government needs to find a balance with not discouraging Mainland Chinese investment into Vancouver as it has been a boom to our economy, with ensuring we collect a lot of tax revenue off the real estate speculation, vacancy, and foreign purchases to create a lot more affordable housing in other areas of the city.

Currently none of that is being taxed effectively.

The bad option is to limit or remove foreign purchases. That would be horrible for our economy.

EDIT - Also, these houses generally aren't staying vacant. The father will purchase it for his son or his wife and they will live there part of the year, usually for school. So hard to enforce anything around that, that's why should focus more on the speculation and foreign purchase taxes to offset and create more housing.

Also Vancouverites complaining about increased housing cost need to let go the detached home dream. If you live in apartments, Vancouver is not nearly as expensive and if you create more affordable apartment housing, the prices should go down further. I'm fine with detached homes being associated with the rich only, because I think we should have no detached homes at all. All apartment skyscrapers.

If you want to live in some gross suburban sprawl just so you can have a lawn and "quiet", then live out east or in the US. Vancouver is no longer for you.

That's pretty sad.

 

[Llyranor]

I'm glad that Montreal (Quebec)'s dysfunctionality has kept it from booming like Toronto or Vancouver.

Making Montréal one of the few affordable cities to live in North America

Thank you, (dysfunctional) Quebec <3

I won't disagree, but that dysfunction causes a lot of problems too. We have the highest tax rate in North America, easily. Our roads look like they were made out of breakfast cereal. And we run a huge deficit.

I still love you, Quebec!

 

[Tal Shiar Agent]

Considering that's what Tabris does when he isn't shoving his face with brisket or being an 'expert' on Asian culture, I'm not surprised he added that dig in his post. Shows how mature he is when it comes to matters like that and exposes his fuck you got mine mentality.

He is the same guy who wants Trump to be president and tank the US economy just to line his own pockets.

 

[Akuun]

What the fuck? The realtor sounds fucking insane, and the police's tepid response sounds ridiculous considering the guy got a death threat.

 

[trifelife]

If you want to live in some gross suburban sprawl just so you can have a lawn and "quiet", then live out east or in the US. Vancouver is no longer for you.

Bruh you use your Chinese trust fund money to eat baby food : people in the suburbs have babies who eat baby food

You're a gross suburbanite!

 

[Marky Mark]

 

[Archer]

Meanwhile Clark and Robertson are on the take from the same entities via campaign donations.

 

[Quick]

Real estate is one of the easiest ways to launder money. Sounds like this might not be out of the realm of possibility here, but I could just be jumping to conclusions.

Just when I think pricing is already too high in Toronto, I only need to be reminded of Vancouver's insane pricing.

 

[SynthFetish]

It's already happening here.

Happening in Portland too...

 

[WrenchNinja]

Criminals owning the Vancouver housing market somehow doesn't surprise me

 

[Silver Arrows]

You should.

North America really needs to adopt Asian urban development. Detached homes should be a luxury to discourage it.

You don't actually need your lawn and isolation. We've been fortunate in North America. It's a luxury not a right.

I also love skyscraper forums.

ahahahahahahahahahahahahahahahahahahahahahah

oh wait your serious

 

[NetMapel]

I'm glad that Montreal (Quebec)'s dysfunctionality has kept it from booming like Toronto or Vancouver.

Making Montréal one of the few affordable cities to live in North America

http://montrealgazette.com/business...stment-lands-in-montreal-at-yul-condo-project

They coming for you next!!! Prepare your body!

 

[Trojita]

About skyscrapers vs detached homes for living:

There was that idea for that one Japanese mega structure The Shimizu Mega City Pyramid. Even with how clean Japanese people generally are with putting away trash and recycling, I can't imagine how dirty that thing would be in a couple of years.

 

[Dazzler]

This is such a massive bummer and I'm leaning more and more toward leaving Vancouver

As someone who earns an average wage, it's not for me anymore

 

[Gitaroo]

Real estate business is what keeping BC from recession and the economy alive so the government keep pretending that this shit is not an issue and will not do anything about it.

 

[Tabris]

ahahahahahahahahahahahahahahahahahahahahahah

oh wait your serious

Why do you think I'm not being serious?

A city like Tokyo is an example of how we need to densify our populations.

 

[nelsonroyale]

As long as they follow the law, there is no moral argument against house flipping

Period

They buy the house, they have the right to sell, regardless of how quickly

MOST flippers put money into the property to increase its value and deserve a return on investment

Morality is not always, or even much of the time, correlated with legality. These things are not the same. I hope you know that. Just because something is legal doesn't mean that it isn't fucked up. Open a history book. Open the world affairs section of your national. Take a closer look at the world around you.

Sounds like you are a 'flipper' though...

 

[Dazzler]

I've stopped reading the Vancouver Subreddit because it's all real estate talk, all the time

Just had a glance there, of the 25 topics on the front page, 14 concern real estate prices

It's a city-wide obsession

 

[TAJ]

You should.

North America really needs to adopt Asian urban development. Detached homes should be a luxury to discourage it.

You don't actually need your lawn and isolation. We've been fortunate in North America. It's a luxury not a right.

I also love skyscraper forums.

That might make sense if attached homes were actually affordable.

 

[NetMapel]

I've stopped reading the Vancouver Subreddit because it's all real estate talk, all the time

Just had a glance there, of the 25 topics on the front page, 14 concern real estate prices

It's a city-wide obsession

This is what I've been saying before when it comes to Vancouver real estates. You cannot just blame foreigners (Chinese) for the craziness going on here. Sure there is huge Chinese money coming in and creating demand especially in the luxury sector. However, I know plenty of young Canadian professionals buying up places in the mid-ranged and starter sectors in order to make some quick bucks. Everybody is investing in the market here. You see the ridiculous stories where the Chinese spent millions on a house. You don't hear about all the Canadians buying up the $300k-$400k ranged condos that ultimately drive these property values up to $500k and beyond. New West condos are selling for $400k range now and it is definitely not Chinese buying those condos up. They are Canadians who work as accountants, engineers, police, nurses... Etc.

 

[Ether_Snake]

Why do you think I'm not being serious?

A city like Tokyo is an example of how we need to densify our populations.

We need less people, not more. Technological advancements will make it a necessity for any country that doesn't want to go bankrupt.

 

[braves01]

Saying the dense development pattern of Asian cities is good presupposes their population level is okay. There really just need to be less people in certain Asian countries. Frankly there needs to be less people everywhere.

 

[Archer]

I've stopped reading the Vancouver Subreddit because it's all real estate talk, all the time

Just had a glance there, of the 25 topics on the front page, 14 concern real estate prices

It's a city-wide obsession

 

[Ether_Snake]

Saying the dense development pattern of Asian cities is good presupposes their population level is okay. There really just need to be less people in certain Asian countries. Frankly there needs to be less people everywhere.

It's like figuring out to put more people in a stadium knowing the structure is compromised. It will just be a bigger mess in the end.

 

[gutter_trash]

http://montrealgazette.com/business...stment-lands-in-montreal-at-yul-condo-project

They coming for you next!!! Prepare your body!

it already has begun but they seem to be exclusive to the Downtown core area and ignoring the rest. (MTL)

 

[MikeyB]

Saying the dense development pattern of Asian cities is good presupposes their population level is okay. There really just need to be less people in certain Asian countries. Frankly there needs to be less people everywhere.

It goes beyond population or addressing the cost of housing. Suburbs didn't really work in the 1950s or now. A big argument for density is reducing the cost of infrastructure. A lot of infrastructure was built in the 1950s and 60s and plans for maintenance were never fully formed (in Canada at least). New infrastructure was financed by new growth, and maintenance was an easy cut to make. In addition, the federal government has significantly pulled out of funding infrastructure compared to the 50s and 60s (even taking new investments into account).

Less dense development is expensive to the public. You need more metres of road, pipe, and wire per person. You need more fire services, bussing for schools, etc. You eat into parkland and agricultural land. So far that has typically been externalised by developers. If we have less money to spend on infrastructure, we cannot afford low rise residential anymore.

 

[GG-Duo]

Christy Clark needs to be voted out for her continued inaction on this. Vision Vancouver isn't clean either - they've rebuffed every study by saying it's "racism". I'm Chinese-Canadian. It's not racist to call a spade a spade and recognize the capital flowing in from China.

The entire town is addicted to real estate money and it's depressing. Every bus shelter, every other media ad, it's all real estate.

This is what I've been saying before when it comes to Vancouver real estates. You cannot just blame foreigners (Chinese) for the craziness going on here. Sure there is huge Chinese money coming in and creating demand especially in the luxury sector. However, I know plenty of young Canadian professionals buying up places in the mid-ranged and starter sectors in order to make some quick bucks. Everybody is investing in the market here. You see the ridiculous stories where the Chinese spent millions on a house. You don't hear about all the Canadians buying up the $300k-$400k ranged condos that ultimately drive these property values up to $500k and beyond. New West condos are selling for $400k range now and it is definitely not Chinese buying those condos up. They are Canadians who work as accountants, engineers, police, nurses... Etc.

But it's definitely foreign money that is driving the high end, which pushes local demand to town houses and condos. So both can be correct.

 

[Mr. Giggles]

http://montrealgazette.com/business...stment-lands-in-montreal-at-yul-condo-project

They coming for you next!!! Prepare your body!

from the link:

The condo markets in Vancouver and Toronto are extensively driven by Asian money looking for an investment home rather than a personal residential home. Di Fruscia said the same thing could “potentially” happen in Montreal, but the market here is more balanced in terms of residential demand so sales efforts in Asia “don’t make as much sense to our eyes.”

I haven't done any research in the health of housing here in MTL, anyone know enough to comment on the bolded bit of balance

 

[milanbaros]

The entire town is addicted to real estate money and it's depressing. Every bus shelter, every other media ad, it's all real estate.

Have you never experienced an asset bubble before? Honest question. This is a classic symptom.

 

[God Dayumm]

Why do you think I'm not being serious?

A city like Tokyo is an example of how we need to densify our populations.

Yes but not at those prices.

 

[Mr. Giggles]

Have you never experienced an asset bubble before? Honest question. This is a classic symptom.

I have, saw this shit in Dubai... we now have sky scrapers that are like partly occupied

 

[GhostWriter24]

Hahahah of course they did.

 

[kaitoe]

That might make sense if attached homes were actually affordable.

But that's not going to happen unless we develop more attached housing.

Vancouver Is a very desirable place to live for a lot of people. And with Vancouver's population increasing, there is only so much land, and there can only be so many single family homes. We do need to increase housing density unless we want to push people outside of the city. People are still expecting detached houses as the norm in Vancouver but it's not going to happen. That dream's gotta stop because we need to increase density. I'm not even talking about condos but row homes, duplexes and town homes. The amount of detached homes by Canada line stations is stupid. Regardless, the norm isn't going to be a detached home going forward, because a lot of us are going to be because priced out of the market. But a lot of bitching would probably stop if there if there was an acceptable compromise.

 

[Dazzler]

Just saw a Layla Yang ad on the side of a bus when I was out for lunch there

Her face is everywhere

 

[Silver Arrows]

Just saw a Layla Yang ad on the side of a bus when I was out for lunch there

Her face is everywhere

I still see Morning Yu ads in Delta and Surrey even though herself and the entire New Coast Realty are swept up in a shadowflipping investigation.

 

[Dazzler]

I still see Morning Yu ads in Delta and Surrey even though herself and the entire New Coast Realty are swept up in a shadowflipping investigation.

Those ads look like they're straight from the North Korean propaganda playbook

creepy af