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Austin
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The real estate technique fuelling Vancouver's housing marke

Mon Feb 08, 2016 9:21 am

Redistribute consumption, not income.
 
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thompson2
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Re: The real estate technique fuelling Vancouver's housing m

Mon Feb 08, 2016 12:31 pm

what if market crash after those crying babies sold their houses? It will endless brag in their life.
 
tdma800
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Re: The real estate technique fuelling Vancouver's housing m

Mon Feb 08, 2016 4:19 pm

You;d think those owners would get the value of their place estimated first - oops!
 
jimtan
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 4:54 am

Sounds soooooo familiar! :mrgreen:

Always at its worst at which end of the cycle?
 
reallyreal
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 8:26 am

hmmmmmm.... I wonder what nationality the realtors will be that used their address as a proxy for their clients to circumvent anti money laundering laws.
 
tdma800
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 8:29 am

So someone bought a home. and? I dont see a problem with it
 
Demonizer
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 8:45 am

^^what nationality do you want it to be :) ? they are probably canadian citizens. or did you mean what race they are? maybe they could be canadians of chinese origin but judging by the for sale signs not all of them are chinese, maybe most of them. why does it matter anyways. First it was foreign buyers to blame, now it's foreign realtors. Keep grasping at those straws!!

anyways, it appears the foreign boogeyman is not always the ones truly to blame here. I said all along they were getting ripped off and paying too much. It's unfortunate that they are vilified for it.

another thing I wanted to remind is that just because a foreigner is rich, it doesn't mean it's money laundering or proceeds of crime, or communists are coming to make Canada communist like some people actually think. This is straight up capitalism. A fortune was made out of country.

the unfortunate reality is canada doesn't have enough people or economy to make anyone rich. You have to sell your wares and innovations outside of Canada. Even the smartest ones here leave for other places to make more money. there just isn't enough industry due to, again, the low population. If you were a business would you want to set up shop here with all the expense, regulations, taxes, weak market. It's a recipe for failure. The resources we do have, we sell to other countries because we don't have enough consumers of those products. And we can be sure the very few rich home grown canadians do live in prime properties there are just very few of them. Bottom line is if we need people to live here to populate canada, we have a choice of bringing in wealthy people or not so wealthy. As hard as anyone wants to admit, we'd prefer people bring money than not.

What did you expect in "the best place on earth". Of course they will come.

All the angry people hoped for a crash 10 years ago. I guess they didn't think it was worth it to buy then so definitely not now. They either did not recognize the value or were spending their income elsewhere.

Currently with no more excuses left to blame, the main and only target is some "make believe" foreign dirty money boogeyman to blame. The desperation is clearly evident and people are laughing at them big time.

The reality is Canada is kept poor. Low population and huge land mass are an issue. Property sales and development is one of Canada's main revenue and industries.

Of course other countries can strike it rich with much bigger populations to market to. They also have more technology innovation.

Canada just can't compete and it is unfortunate
 
HomelessinSD
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 9:03 am

Demonizer: Did you read the article? Because if you did, the premise was that realtors had an unfair advantage with respect to assignments and being able to flip properties.

I think it's a very dangerous game that was played out extensively in markets like Phoenix and Arizona, but it's not fair to place the blame solely on foreigners. Almost anyone can get a real estate broker's license and engage in these risky tactics.
 
tdma800
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 9:13 am

Arizona is what they say is - a different kettle of fish
 
Demonizer
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 9:46 am

i don't think anyone would condone what these realtors have done.

i guess what i was trying to say was that it's not just foreigners to blame for price run ups. in fact the article states that the buyers and sellers are mostly victims of the middlemen.

and now we have proof. it's also realtors themselves
 
reallyreal
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 1:03 pm

So someone bought a home. and? I dont see a problem with it
You don't see a problem with tax avoidance? Maybe we should ask Ozzie to get your details to CRA. If you don't have an issue with other people circumventing taxes, you probably partake in that activity.
 
tdma800
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 1:26 pm

It isn't against the law to assign a contract
 
reallyreal
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 1:38 pm

It isn't against the law to assign a contract
Not paying taxes on the assignment is though.

When people move to Canada, they should learn the laws. Or is that too racist for you?
 
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Dragonslayer
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Re: The real estate technique fuelling Vancouver's housing m

Tue Feb 09, 2016 7:10 pm

Allowing Realtors to double end deals is about to become a thing of the past.
Daisy chaining should be outlawed too....
 
reallyreal
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Re: The real estate technique fuelling Vancouver's housing m

Wed Feb 10, 2016 7:26 am

For those of us that don't know, what is daisy chaining?

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