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jimtan
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Re: Should the government intervene?

Wed Nov 02, 2016 12:02 am

Back to rational discussion.

Plenty of people coming to Canada. Will they come to metro Vancouver if the housing costs are silly. Perhaps, they should move into a basement suite...

"How a family of 4 stays sane in a 1-bedroom condo in Toronto"

http://www.cbc.ca/news/canada/toronto/p ... -1.3828968

That's right, they can move to Surrey where the Skytrain service is super reliable.  :lol:
 
tdma800
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Re: Should the government intervene?

Wed Nov 02, 2016 12:10 am

Demonizer wrote:
tdma800 wrote:
Demonizer wrote:
if the goal of higher housing prices is to push the riff raff away from affording it, i'm all for it.

the less bums and vagrants we have the better.

think about it, it's a drain on our system. they don't contribute yet they consume. they are on social assistance.

they are takers, not givers.

according to the City of Vancouver new developments are required to have 'bum' units mixed in with everything else 

and in the end they will still complain it is not good enough. 
beggars can't be choosers. 
why government pander to their bum demands in one of the best cities to live in is beyond me. ship them out to hope or inner BC communities is probably the best solution

Also important was that the recent election was based on a platform of increasing newcomers which obviously need a place to live . It's rare for people to have roommates beyond a certain point l. Most people without xenophobia want newcomers
 
jimtan
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Re: Should the government intervene?

Wed Nov 02, 2016 9:07 pm

While the excited people rave and rant, let's return to the basics.

Demographics matter. So does transportation and usage. Here's why AirBnB needs to be reined in. Just eliminating some kinds of AirBnB hosts would push vacancy rate back up over 1% (normal).

"Master's thesis details how Airbnb has become a problem for housing supply and affordability in Vancouver

For more than a year, Karen Sawatzky has pored over Airbnb data collected on three dates: November 29, 2014, July 1, 2015, and December 3, 2015.

On those days, she found, the number of listings for the city of Vancouver increased, from 2,898 to 3,746, to 4,726.

“The rate of listings growth in 2015, the disproportionate percentage of Vancouver Airbnb listings in relation to the city’s size and the city’s high occupancy rate all suggest that new regulation is needed to control and even decrease the amount of Vancouver’s housing space that is being used for tourist purposes,” Sawatzky writes. “If not, the existing quantity of listings and continued growth is likely to undermine the city’s ability to achieve its policy goals of protecting and increasing the existing rental stock.”

... Sawatzky explains that all of those listings are likely a problem because most of them are for an entire dwelling (instead of for a room). That suggests Vancouver residents posting listings on Airbnb might not be living in those units, but rather are operating them as a business, and thus subtracting from the city’s rental stock.

In December 2015, 3,179 of 4,726 listings or 67 percent were for an entire residence, according to the paper.

... According to Sawatzky’s research, if every full-time entire-unit listing on Airbnb for Vancouver was returned to the long-term rental stock, the city’s vacancy rate would increase by 0.85 percent."

http://www.straight.com/news/821031/masters-thesis-details-how-airbnb-has-become-problem-housing-supply-and-affordability
 
tdma800
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Re: Should the government intervene?

Wed Nov 02, 2016 9:12 pm

Demonizer wrote:
reallyreal2 wrote:
Demonizer wrote:
if the goal of higher housing prices is to push the riff raff away from affording it, i'm all for it.

the less bums and vagrants we have the better.

think about it, it's a drain on our system. they don't contribute yet they consume. they are on social assistance.

they are takers, not givers.

as he takes an insured mortgage that I am backstopping. 
the irony is hilarious.

my new $730k mortgage to invest is not cmhc insured.
because i had more than 20% down from my current principal residence equity.

my starter house was cmhc insured back in 2003. 

no need for cmhc ever since.

Also people in the know already know that just about every single family house built in Vancouver comes with a baby house in the back and a legal suite downstairs in the main house and possibly a 2nd gray suite as well. There's so many self contained units(not roomshare) available its not even funny
 
jimtan
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Re: Should the government intervene?

Tue Nov 15, 2016 11:54 pm

So it begins.

"Airbnb deletes 130 "commercial" listings in first bulk removal for Vancouver"

http://www.straight.com/news/827406/air ... -vancouver
 
reallyreal2
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Re: Should the government intervene?

Wed Nov 23, 2016 2:47 pm

looks like the government's intervention has pretty much collapsed the real estate market....

hearing through the grapevine that deals are falling apart, buyers are few and far between.  The d/t condo market is especially getting hit hard because people are wanting detached now and are waiting out the collapse even further rather than buying some shoebox that will leak in 2 years.

I'd hate to be a realtor... I'm sure they hate being a realtor themselves.   :lol:
 
tdma800
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Re: Should the government intervene?

Wed Nov 23, 2016 2:49 pm

Educated people know rather than referring to plants things are normally slow every year at this time. However, the 4 areas of downtown vancouver are so high its not funny.
 
jimtan
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Re: Should the government intervene?

Sat Dec 03, 2016 5:59 am

Enough of the hot air. Steve has done some analysis of money flow. It ain't flowing as it has.

"Total Capital Fleeing Vancouver Real Estate


... Richmond is a prime example of money leaving the market. I mentioned before how much foreign capital has heavily influenced the area (Richmond Market Fluctuating with Foreign Demand). With detached prices up 80% over the past 3 years along with the highest concentration of foreign buyers, capital is now fleeing the Richmond market. The average price is down 12% year over year.''"

http://vancitycondoguide.com/total-capi ... al-estate/

It's working. Once the political will is there, the government acts and only the crazies still think it's going to the moon.  :mrgreen:

Typical bubble psychology.
 
tdma800
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Re: Should the government intervene?

Sat Dec 03, 2016 7:45 am

 
tdma800
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Joined: Wed Jan 23, 2008 9:12 am

Re: Should the government intervene?

Sat Dec 03, 2016 7:46 am

educated people know you have to increase the supply. To the moon!!

http://www.metronews.ca/news/vancouver/ ... -mess.html
 
jimtan
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Re: Should the government intervene?

Wed Dec 14, 2016 12:48 pm

Here's a situation that can't continue...

"Burnaby loses nearly 500 rental apartments in seven years in redevelopment frenzy

While most other Metro Vancouver municipalities have added rental units or stayed the same, Burnaby’s rental housing stock has plunged..."

http://www.metronews.ca/news/vancouver/ ... ears-.html

It's time for the politicians to stop their cozy relationship with large land owners and developers. Stop foreign ownership by increasing the transfer tax to 25%. Increase the vacancy tax to 5% per year after 2 years vacancy. Impose rental-only zones. 

There's crazy buying of homes because the rental market is shrinking. Solve the rental situation and there won't be the same madness to buy/buy/buy.  :roll:

What would happen if city hall doesn't get on the ball? Eventually, you'll get a far left government (a la Bernie) or a populist revolt (a la Donald). Nothing good will come from extremism.  :!:
 
tdma800
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Re: Should the government intervene?

Wed Dec 14, 2016 12:51 pm

The name of the game is envy - want what others have. http://www.hgtv.ca/propertyenvy/
 
jimtan
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Re: Should the government intervene?

Wed Dec 14, 2016 1:30 pm

I would like to correct you. It's the job of the government to get roofs over the heads of its hard working citizens. It is not the job of the government to make a fortune for 'investors' and speculators.  :lol:
 
tdma800
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Re: Should the government intervene?

Wed Dec 14, 2016 1:39 pm

Here goes the entitlement http://www.news1130.com/2015/05/25/some-people-have-sense-of-entitlement-when-it-comes-to-vancouver-housing-architect/
 
jimtan
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Re: Should the government intervene?

Wed Dec 14, 2016 1:57 pm

It's no longer entitlement when the rental vacancy rate is 0.5%. It's a failure of the free enterprise system (a.k.a. greed, laziness and profiteering).  :shock:

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