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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 09-19-2016, 10:51 PM   #8426
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And a student no less, that cobbled together 10% down of a 560k mortgage... Uhm, who approved that? What assets did she have to show to qualify for half a million bucks as a student?

Gonna be interesting.
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Old 09-19-2016, 11:04 PM   #8427
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Just say not interested and fucking walk off. How fucking hard is it to be an adult?
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Old 09-20-2016, 12:21 AM   #8428
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You can't just flake after signing a deal. Not only will the buyer forfeit the deposit, the seller also has the right to sue.
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Old 09-20-2016, 01:04 AM   #8429
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the lawyer looks like a heroin addict.
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Old 09-20-2016, 05:56 AM   #8430
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Where the fuck are you going to surf?
Tofino is known for surfing. But honestly how many people will surf and ski all in one day?

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Just say not interested and fucking walk off. How fucking hard is it to be an adult?
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Old 09-20-2016, 08:13 AM   #8431
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A student from Burnaby is the lead plaintiff in a class action lawsuit against the BC government about the 15 percent foreign buyers tax.

-does not sound like this student is a mainlander.


Lawsuit filed over foreign buyers tax - NEWS 1130

It is the first challenge to the new 15 per cent tax on foreign home buyers brought in by the BC government last month. A student from Burnaby is the lead plaintiff in what could become a class-action lawsuit that claims the new rules go beyond provincial jurisdiction.

The student scrapped together enough for a down payment on a $500,000 home in Langley but can’t afford the new fees. Pulling out of the deal would cost her the non-refundable down payment, putting her in a no-win situation.

“Put the foot on the other shoe and I think a lot of [buyers] got the short end of the stick,” says Vancouver realtor Steve Saretsky. “Obviously these deals were agreed to and then without notice or without any time to get deals changed, a lot of them ended up forfeiting their deposits which some of them had built up their life savings for.”

Saretsky adds he’s not surprised by the lawsuit, just over six weeks after the tax came into effect

He does favour a tax, but says the provincial government went about it all wrong. “I’m not surprised. I think that the implementation of the tax was not done correctly,” says Saretsky. “Ultimately the 15 per cent tax is a good thing, but I think the BC government didn’t really think it through entirely in terms of implementation. I think the deal should have been grandfathered, and so, I’m not really surprised that they’re filing a lawsuit.”

The suit is not certified as class-action yet, but the legal action could eventually involve everyone who has had to pay the tax so far. It claims the province doesn’t have the authority to put such a levy in place and the issue falls under foreign trade, which is a federal jurisdiction
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Old 09-20-2016, 08:14 AM   #8432
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the surfing instructor in tofino said there's decent places to surf in vancouver...didn't ask him where
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Old 09-20-2016, 09:15 AM   #8433
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Why the fuck are we still talking about surfing
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Old 09-20-2016, 09:30 AM   #8434
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Just say not interested and fucking walk off. How fucking hard is it to be an adult?
lol this was supposed to go into that UBC thread.
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Old 09-20-2016, 09:47 AM   #8435
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Just say not interested and fucking walk off. How fucking hard is it to be an adult?
that's what i do to realtors asking me if i'm interested in selling my house
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Old 09-20-2016, 09:58 AM   #8436
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I'm supportive of the tax, but the way the government implemented it by applying it to existing sales agreements was a complete slimeball move by the Gov.
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Old 09-20-2016, 09:58 AM   #8437
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lol the government is just trying to make money.

If they truly cared about housing for Canadians, they could've easily restricted the foreign ownership.

Instead, as long as you let government make money(15%), you don't even have to be living in Canada to buy houses.
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Old 09-20-2016, 12:28 PM   #8438
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The case seems to rest on the accusation that "the province has intruded into an area of federal jurisdiction". I am obviously an idiot when it comes to the legal stuff, and especially when it has to do with international trading laws. But boy, do I ever hope that the case will get thrown out in court...

On another note, I totally despise this Branch MacMaster Barristers and Solicitors place. What a bunch of sleazy and profiteering pricks...
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Old 09-20-2016, 09:39 PM   #8439
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I call bs that she can't come up with extra 84k
She's just butthurt
FFS why is she buying a house in Langley when she's not even PR yet? If it was DT, ok maybe she goes to one of those no name schools, but Langley? What the hell is she gonna do there?
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Old 09-20-2016, 10:14 PM   #8440
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Again, I don't think in a market like this, you should be able to purchase a home before you are legally allowed to even stay in it long term.
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Old 09-20-2016, 11:01 PM   #8441
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Well it is/was a free market. I know its hard to sympathize for the well off but the implementation of the tax basically changes the terms of sale/contract significantly. She probably could write in the extra 84k into her mortgage, but why should she have to is the question.

Its like guys who have the means to buy gt3s and gt4s to have them sit in their collection expecting to appreciate in value, not letting wealthy Joe schmoe buy one for the sole purposr of driving the piss out of it. Yes I'm aware I'm comparing luxury toys to a basic essential need to make my point
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Old 09-20-2016, 11:14 PM   #8442
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I wouldn't mind making exemptions for cases like this given the unexpected and immediate nature of the tax.
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Old 09-20-2016, 11:25 PM   #8443
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our family had an interested buyer for our house for a good price then the 15% tax came on and scared the buyer off, he wasn't even a foreginer, he was just scared the prices of houses will drop. well , i like this place better than the place we were going to buy.
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Old 09-20-2016, 11:39 PM   #8444
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you should get taxed 15% for Engrish
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Old 09-21-2016, 12:20 AM   #8445
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Better fuck & marry a Canadian for 15% discount After you Help pay her Masters degree shes Win win and ditching your ass
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Old 09-21-2016, 12:31 AM   #8446
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So the only winner for this 15% tax is the government.

It does nothing to help out Canadians nor foreign buyers and realtors.

The government figured out that Chinese will keep buying houses even with 15% tax. So why not make more money.

As I said, if the government truly cared about housing for Canadians, they could easily limit/suspend/restrict the foreign buyers or put some legislation in place.
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Old 09-21-2016, 01:03 AM   #8447
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Again, I don't think in a market like this, you should be able to purchase a home before you are legally allowed to even stay in it long term.
So your saying an American should not be able to buy a Condo in Whistler?
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Old 09-21-2016, 06:16 AM   #8448
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When I say "this market" I mean this market.
Whistler isn't Vancouver, and NAFTA wouldn't allow preventing that anyways.
As I've said, I can't just hop on a plane to Switzerland and just buy a house, and you know, there's a lot of sense to that.
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Old 09-21-2016, 06:28 AM   #8449
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So your saying an American should not be able to buy a Condo in Whistler?
There should be a cap. Once exceeded purchases should be limited to permanent residents only to give them a fighting chance. Once it reaches a certain percentage below the cap let them go back to buying. I like Australia's way, foreigners are limited to purchase new houses/condos. Existing buildings are for residents. If they want to flip it let them pay for the demo and rebuild a new house out of their own pocket money first before selling to a foreigner.
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Old 09-21-2016, 06:37 AM   #8450
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When I bought my house it was new, I had to pay tax on it. At that time HST was in affect, 2 weeks after I signed the papers but before I had taken possession the HST was repealed. Even though I had not taken possession I still had to pay HST instead of GST because I signed before the repeal. It ended up costing me 35 grand in additional tax that my neighbour who signed after didn't have to pay.

In the foreign tax there doing the complete opposite because it works to there benefit. I'm not opposed to the new 15% tax but I don't think it should apply to those who already had contracts before it came into affect. The Government will have it's cake and eat it too every single time.
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