Real Estate Talks

The blow back against foreign buyers continues... "Chinese developer offers Vancouver buyers first crack at new downtown condo tower" https://www.straight.com/news/1108121/chinese-developer-offers-vancouver-buyers-first-crack-new-downtown-condo-tower That was a last ditch effort. This project is on...

Indeed. Finally seeing softness in all market sectors. Credit restrictions, and higher rates are starting to have an affect without a doubt on local buyers.  Add to this the global RE downturn - NYC luxury down about 10 points, London down about 10 points, other global cities seeing softness.  Seems...

This is quite a headline, credit to Steve @ VanCity Condo Guide.

• http://vancitycondoguide.com/vancouver- ... low-march/

Thoughts? Are the various measures aimed at the upper end starting to filter through the system? Perhaps even working too well?

Discounts are more prevalent in the multi million dollar range.

Still not seeing listing growth that would lead to any meaningful price reductions. 

Money laundering, tax evasion, multi-million dollar owners in welfare is like cancer to the system. I really hope David Eby and his team can clean house. You are pinning your hopes on a tax that is called a speculation tax, but does nothing to combat speculation.  Sayanything John is extremely corr...

https://en.wikipedia.org/wiki/Tax_incidence#Example_of_tax_incidence Not exactly. If the consumer can't bear the price increase of the tax, then the burden gets passed to the factors of production - ie, what the developer is willing to pay for land, what they are willing to pay plumbers, what they ...

I keep track of the sales on under 2M market. The floor has not moved - not one bit. You still cannot get a decent home on a standard sized lot for under about 1.2M...this is pretty much the same as 3 years ago. There are currently 1494 detached properties for sale in Vancouver proper. Only 340 of ...

Why is it either/or?  Why not curb demand and increase supply? And it's not like the NDP is curbing demand - They are curbing a very specific demand so they people that live here have an opportunity. you do realize the tax scheme is going to drastically hurt supply, and raise the cost of building a...

That's what's been happening since 2016. 2M plus market is not the same as under 2M. If immigration and foreign buyers are effected it will certainly mean problems with the West side...the over 2M homes I'm inclined to agree with Eyes here. Buyer pool for under 2 million seems more like locals with...

How do $2m+ homes lose value but under $2M stay flat That's what's been happening since 2016. 2M plus market is not the same as under 2M. If immigration and foreign buyers are effected it will certainly mean problems with the West side...the over 2M homes I'm inclined to agree with Eyes here. Buyer...

Permitting in Metro Van is a disgrace.

There is no way to justify waiting 2 years for a what should be a basic permit for a SFH.

3-4 years to deliver a house is absurd. 

I ask you: If illicit, un-taxed, foreign capital is a majority cause of the issue we face. How does punishing Plumber John, who has had a family cabin on a Gulf Island for 30 years get us closer to addressing any of the core issues?  + I am with you!  by the way I think the majority cause of the is...

Looks like you're backing off your original comments. Someone has to check and balance  the bullshit posts that are seen here. I also see your reading comprehension has not increased in the last decade.  A correction has the potential to seriously impact buyers ability to renew their mortgages. Per...

Sorry - where did I say people steal money? If a few Canadians get captured under this tax, oh well.  Again, if you can afford a $1M recreational property, you can afford the tax. You did not say that - you implied a lack of sympathy. The only way I would not be sympathetic to someone is if they ha...

I read it.   Like I said, I don't have sympathy for people that, like the article said, have a $1M recreational property with $100K in income - LOL. Sell the property or pay the tax - it's simple.  There is no devine right to own a recreational property.  Seriously, how tone deaf do people have to ...