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Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

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Old 08-04-2016, 09:56 AM   #7526
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And that isn't nearly as bad as the apocalypse many people seem to believe. The pendulum has only swung (one way) further and further off to the right since 2001 when Gordo Campbell took office, so much so that the social balance in our province has gone completely out of whack. I am not at all a socialist by any means -- if anything, I am more of a mild right wing kind of person. But when even someone such as myself recognizes that public funding to all kinds of government programs are at all time low, that our social welfare system is more holey than a lump of swiss cheese, you know there is a problem.
I'll definitely be voting NDP this election if the housing market is still fucked. Say what you want about them but I believe they will cater to the middle class a lot more than the liberals have.
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Old 08-04-2016, 10:02 AM   #7527
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+1 NDP has great values and their campaign is strong and inclusive among-st all.
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Old 08-04-2016, 10:04 AM   #7528
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^I think the foreign buyers will get creative and find a family friend or relative who is a Canadian citizen to buy it for them
FS: Blood relation to foreign buyer

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Old 08-04-2016, 10:39 AM   #7529
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+1 NDP has great values and their campaign is strong and inclusive among-st all.
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I'll definitely be voting NDP this election if the housing market is still fucked. Say what you want about them but I believe they will cater to the middle class a lot more than the liberals have.
This housing market will still be fucked next year for sure lol I'm pretty confident NDP will take it next election
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Old 08-04-2016, 10:47 AM   #7530
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This housing market will still be fucked next year for sure lol I'm pretty confident NDP will take it next election
We thought the NDP was sure to knock the Libs and Crusty off last time too, and look what happened.
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Old 08-04-2016, 11:10 AM   #7531
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This is what happens under "astronaut families" where dad sends money to Canada, while Mom not only claims low income tax, but also WELFARE for extra cash. Yet they live in that seven digit house bought with cash, and the kids get their Mercedes to drive to school.
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Old 08-04-2016, 11:35 AM   #7532
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Old 08-04-2016, 12:55 PM   #7533
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This housing market will still be fucked next year for sure lol I'm pretty confident NDP will take it next election
NDP .... lol thats a good one...........
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Old 08-04-2016, 06:20 PM   #7534
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As much as I hate the liberal's union tactics and disregard for the middle class, most BC residents will not forget the mess that the NDP put us in.
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Old 08-04-2016, 06:45 PM   #7535
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People voting over single issue politics again..great move.

Fuck the NDP.
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Old 08-04-2016, 08:14 PM   #7536
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But we have to teach those liberals a lesson, amirite.
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Old 08-04-2016, 08:20 PM   #7537
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The narrative often repeated here and on other forums is that if it weren't for foreign money, Vancouver would have remained the backwater it was in the 1970s and 1980s. The children of blue-collar parents would be able to buy a detached home in their neighbourhood of choice for 2-3 times the average family household income.
Right, the good ol days. If it weren't for foreign money I'd be able to buy a house in east Van for 500k.

We love to rag on the NIMBYs but wanting/hoping for regression of the city are just as bad IMO.
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Old 08-04-2016, 09:53 PM   #7538
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As much as I hate the liberal's union tactics and disregard for the middle class, most BC residents will not forget the mess that the NDP put us in.
This. Right. Here.

I'm by no means a fan of Christy Clark but the NDP is just the absolute worst at execution. They have these grandiose plans that are just so ill-advised and not even remotely thought out. Then when they try to execute on these plans without any forethought, we have what the NDP caused in their previous reign.

Say what you will, Gordon Campbell was a GREAT Premier. He ran the province like a company and it absolutely prospered under him.

Then all the fucknuts came out with HST opposition that literally fucked everyone. I get that you want your voice to be heard but at the cost of hundreds of millions of dollars? Fuck right off.
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Old 08-04-2016, 10:37 PM   #7539
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15% tax is nothing . Some of you guys must be growing money on trees with growlight in your basement.

This is a 15% increase in price for foreign buyers. If you are right and it is nothing, expect price to be even more fucked as 15% premium will now be priced in every transaction, foreign or not.

This is a good test for buyer confidence. Hike once, reassess and then go from there. The government can hike again or remove the tax or keep it as is. I would wager they want to see at least 4-6 months to a year of data until the next decision. Perhaps it will kill price, perhaps it will not, need to wait and see. Applying a ban or a much higher tax (100%) is much more drastic and for now I would argue it's wise they didn't do such thing.

Can foreign buyer circumvent by having a related Canadian PR buy it? Sure. But again, if I have 5mil and I want to buy a house, I would think many many many times over to give the money to someone else to buy it so that I don't get fucked over a 5 mil house. It's a large sum of money and you would be surprise how ready some people are to fuck other over for that amount.
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Old 08-04-2016, 11:06 PM   #7540
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I'm sure if they can afford a 5 million dollar house, they could care less about a 15% tax. Once you get to a certain level where you can afford a multimillion dollar home, it really does become just a price to play.

I honestly do not trust anything the government spews so whatever they do, it's only to deepen there pockets, not help the people.

The government banning foreign investment would be the dumbest move ever for the economy. The Chinese are the ones spending crazy amounts of money and keeping afloat many small businesses in the city. Next time you guys go eat at some popular place, notice the ratio between Asian (Mandarin speeaking) to everyone else. It's astonishing the amount of money they spend
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Old 08-04-2016, 11:35 PM   #7541
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Low ass interest rates and crappy Canadian dollar, 15% hike is nothing to foreigners.

If the government truly wants to cool the real estate market, they should enforce a stricter regulation on realtors. No more of them doing behind the door deals, creating false speculations etc. Realtors has done majority of the damage in Vancouver. But nobody in the government is ballsy enough to go after the real estate board.
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Old 08-05-2016, 03:20 AM   #7542
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Old 08-05-2016, 05:00 AM   #7543
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NDP is screwing up Alberta huge time now too, although I suspect not many people are aware of the PPA situation.
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Old 08-05-2016, 06:10 AM   #7544
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I'm sure if they can afford a 5 million dollar house, they could care less about a 15% tax. Once you get to a certain level where you can afford a multimillion dollar home, it really does become just a price to play.

I honestly do not trust anything the government spews so whatever they do, it's only to deepen there pockets, not help the people.

The government banning foreign investment would be the dumbest move ever for the economy. The Chinese are the ones spending crazy amounts of money and keeping afloat many small businesses in the city. Next time you guys go eat at some popular place, notice the ratio between Asian (Mandarin speeaking) to everyone else. It's astonishing the amount of money they spend
So all the Chinese people that live here are foreign investors now? Small businesses make money from the people that live in the community, these millionaires aren't the people keeping that hole in the wall restaurant afloat. If anything it's hurting small business when they buy a place and leave it empty the majority of the year.

And once again, rich people will care about 15% especially the more expensive the house gets. Saying they don't care about an extra 800k that only they have to pay is ridiculous.
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Old 08-05-2016, 08:04 AM   #7545
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LOL at everyone who thinks rich people are cool with throwing away money. Ask any rich person if they are ok with paying the extra 15% and they'll laugh in your face. They have money for a reason
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Old 08-05-2016, 08:10 AM   #7546
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LOL at everyone who thinks rich people are cool with throwing away money. Ask any rich person if they are ok with paying the extra 15% and they'll laugh in your face. They have money for a reason
Yep. I have known multi millionaire asian's deciding to park 6 blocks farther from a location just to save a couple dollars. They are rich for a reason.
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Old 08-05-2016, 08:27 AM   #7547
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I'm sure if they can afford a 5 million dollar house, they could care less about a 15% tax.
I'm sure realtors/lawyers have no incentives to find loop-holes to get a chunk of that $750k. Cuz Rich people don't care about money. That's how they got rich in the first place.
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Old 08-05-2016, 09:16 AM   #7548
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So all the Chinese people that live here are foreign investors now? Small businesses make money from the people that live in the community, these millionaires aren't the people keeping that hole in the wall restaurant afloat. If anything it's hurting small business when they buy a place and leave it empty the majority of the year.

And once again, rich people will care about 15% especially the more expensive the house gets. Saying they don't care about an extra 800k that only they have to pay is ridiculous.
You gotta stop taking everything people say to the extreme. Did I say all Chinese people that live here a foreigners? Am I a foreigner now? Yes obviously small businesses make the majority of there sales from people that live here, however, the amount of money these foreigners spend on things (food) is crazy. Have you been to Richmond before or am I the only one that sees all the foreign mando speeaking Chinese buying up everything at the restaurants? Doubt what I'm saying? I own 3 small businesses. I'm not making shit up

And when I say 15% doesn't matter, look at that picture as a whole. obviously if he can only afford $1mil tops, yes it will have an effect on his decision to buy or not. If he can afford $5mil, I'm sure he is able to afford to pay an extra 15%. put yourself in a rich mans shoes. If your budget is $1mil, yes, it could sway your decision. If you have a budget of $5mil, I'm sure you have a really high bank roll. If they REALLY wanted to live here, I'm sure they'll pay to play.

In the end, does it really matter about foreign money? Everyone that owns a home here has had a taste of what their home COULD be worth. I'm sure they ain't dropping the price on it anytime soon
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Old 08-05-2016, 09:21 AM   #7549
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It's funny that you say markymark takes everything to the extreme, because all his post on here are in rebuttals to people as extreme on the other side of things.
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Old 08-05-2016, 09:33 AM   #7550
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It's funny that you say markymark takes everything to the extreme, because all his post on here are in rebuttals to people as extreme on the other side of things.
Haha I see your point. I guess only time will tell if this 15% foreign tax will do anything
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