There's a million ways to show how absurd RE prices are here, but what do you want the government to do?

Anything draconian they do to drive prices down will put everyone underwater and bankrupt 70% of the country that has a mortgage.

It's either do nothing ($0 and no homes) or do something ($800M and some homes) at this point?

5 days ago Eby announced 66 units being built in Victoria for 23 mill. That's 390K a unit. That's not bad.

https://www.cheknews.ca/23m-announce...-land-1191243/

I wouldn't overestimate the city's ability to adopt new technology, also, AI would be too efficient, the city wouldn't be able to handle all of these extra violations/cases.

CRA is already overstretched in regards to audits and violations, imagine dumping even 100 new files per year on their desk, they would not be able to handle it.

A client of mine is a senior corporate auditor for the CRA and she said the average audit is 8-10months and her workload is maxed.

There is no need for AI because the data they already have, they can't service it.

Municipalities aren't dumb, they know there are thousands of illegal suites out there. They don't actively search them out and do anything about it, because it puts innocent people (the tenants in those units) out of a home and would exascerbate the housing issue even further, and it's really of no major benefit to the municipality.

As such, It's generally only dealt with on a complaint basis.

Massive crane accident with 1 fatality at Oakridge !! Heartbreaking for said worker and family. Now no superstitous Asian will want to live here!

Edit: crane dropped a load, not technically a crane acccident.

https://vancouver.citynews.ca/2024/0...cident-cambie/

https://vancouver.citynews.ca/wp-con...ver-Fire-2.jpg

https://vancouver.citynews.ca/wp-con...562166565.jpeg

Just heard that, yes cursed property now. I wonder if it was an illegal immigrant

Developers with no crane experience building high rises :/

I can’t even imagine how many crane collapses happen in China, Dubai, etc. that you never hear of. If you’ve got 10 minutes to watch a YouTube video on how these tower cranes are assembled, it involves an insane amount of precise human interaction in the errection hehe and dissambly

I was driving by this yesterday and was thinking holy crap what an operation. External elevators, cranes swinging all over the place. 1700 employees on site! That’s nuts.

Is it Westbank? Poor bugger, whoever it was

It wasn’t a crane collapse… a crane dropped part of its load.

And how is this the fault of the developer?

Ah, the picture I saw made it look like the crane had buckled

In these recent crane incidents it looks like the crane company contracted out to work on the cranes have all been relatively inexperienced. Definitely the case in the Kelowna accident

Dubai / Abu Dhabi are kinda gross cities

They are entirely built by modern day slaves, and yet the city is littered with these massive portraits of their "leaders" that are praised for "building" what the cities are today

The more i travel, each time i realize how easy everyone has it in BC in comparison to 99% of the planet. Regardless of your income level

"“The table was being pulled out and, for whatever reason, it started spinning and it hit the side of the building. Once it hit the side of the building, the … piece that holds it to the crane came loose and it fell,” another worker explained. “It fell… and it came smashing all the way down.”"

Ugh... This is super sad to hear about. I really hope he didn't have a wife and kids... fuk man.

I was heading west on W41st this past Sunday when I passed by the Oakridge site. Looking at the massive amounts of construction and right lane closure, I distinctly remember telling myself that I will take 49th on my way home instead (heading back east) because I didn't want to drive right next to some sky high construction immediately next to me.

And BAM this happens...

For those who haven't seen the debris dropping video, here is City News reporting on it. The debris dropping part starts at ~26s mark, and being a public news reel, there is no gore in there at all.

i was wondering if any material feel to the street, looks like it did
scary stuff

HS ... !!! Yah, good idea not to drive close by sites like this. 'Person crushed by the materia ... :okay:

Damn, I live nearby and drive on Cambie & 41st quite often. Moving forward, will try to avoid southbound on Cambie and eastbound on 41st.

Fuck that’s badddddd

https://bc.ctvnews.ca/worker-killed-...-say-1.6779484

Seems like a great way to deter house flippers

^ I think the full tax for 2 years wouldn't be out of question, and prorate for year 3. The move to making it not a viable short term investment vehicle would be important.

lol here comes the 3 year short supply of homes while nothing is listed. Lol

Kind of mixed here, those who buy houses to hold and immediately sell just banking on short term land value increase are a problem, but those who buy and do heavy renovations to properties which would otherwise be uninhabitable so are legitimate business in my view. They work that they're performing is in fact adding value, they're taking on financial risk in the process.

Not a lot of FTHB's have the financial capability to buy a property and then immediately throw a 200K reno on top, and they don't have to live through a year of living in a construction zone.

Here's one such house in my neighbourhood:

https://www.realtor.ca/real-estate/2...anich-glanford

House was a complete "old granny special" a year ago

Although, I wouldn't put it past NDP using this as a sneaky way to further discourage SFH housing by removing the incentives to reno them, and get them torn down quicker.

I think it will be fine, buddy guy buys house, rents it out, by the time cov drags their ass to give permits, they tear down and rebuild it will take two years anyways. ??? Profit

It looks like there will be exemptions to flippers who add an additional unit within the dwelling:

https://globalnews.ca/news/10311381/...20tax%2Dexempt.

What happens in a case like this? Work safe pays out? Or sue the company?