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whattodo
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Re: Bentall Centre sold to a Chinese insurance company

Thu Mar 03, 2016 2:37 pm

Eyes,

I am surprised to hear this form you. I always thought you were greedy. :D

In my circle of friends (and parents friends) I am finding alot of homeowners that have 500K or more in equity will agree with you.

But, the recent homeowners with less equity know that a any policy change to drop home prices will bankrupt them & wreck their plan to sell their house as a retirement plan. These people feel entitled to sit and home, do nothing, & watch their home up in value. They don't care that the future generation of younger Canadians are screwed.
 
tdma800
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Re: Bentall Centre sold to a Chinese insurance company

Thu Mar 03, 2016 2:42 pm

People paying taxes for things they dont use is a good thing for the city
 
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thompson2
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Re: Bentall Centre sold to a Chinese insurance company

Sat Mar 05, 2016 11:56 am

our generous social programs
What are those generous programs? I can not recall any one of them. A new comer once asked me the same question, I tried very hard but failed to answer it. :P Can't blame me, What I know is that rental allowance of $375 in welfare hasn't been changed for years, probably for past 20 years, that can be called generous. Guys, we are piss poor, admitted. Do not live in your own small world any more.
Ohhhhh - so which is it? Canada is great place or Canada isn't a great place. Make up your mind.

Maybe jump back on the boat your crawled from and go somewhere else. :mrgreen:
I am glad to take keys from your mother inlaw's hand and kick you ass out off the basement.
 
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thompson2
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Re: Bentall Centre sold to a Chinese insurance company

Sat Mar 05, 2016 12:07 pm

Thompson,

Vacation properties are allowed here but the property tax rate should be much higher than for Canadian citizens. As for the astronaut families well their wife & kids live here so the entire family is deemed to be Canadian residents for tax purposes. Just so you know I am one of those people you call a tax expert so I know what I am talking about. If Chinese are declaring their income in China then because of the foreign tax credit they wouldn't pay much more additional income tax in Canada. However, considering China is one of the most corrupt countries in the world this is not happening. They want to get their money out of China. Do you think they report the income on their Chinese tax return & then transfer it out of the country? Come on now. You tell me how Chinese government officials are multi millionaires when their salary is probably around $40,000 a year. I 'll tell you ... bribes, kickbacks, blackmail. I have friends who do business in China & these things are considered normal business practices. They can use this money to buy Canadian houses. If I practiced business like this in Canada I would be in jail.

Anyway, CRA is to blame here. :evil: I remember about 15 years ago when they used to do net worth tests on people. Canadians living in West Van (in back them 2 million dollar homes) were getting caught. It was easy for CRA. People declared $30,000 in income but CRA said your mortgage + 2 kids in private schools & car payments + living expenses = $150,000 per year well then your income must be at least $200,000 per year. A foreigner buys a house for 10 million in cash & no questions are asked. If CRA was stricter like the IRS is in the USA we wouldn't have a money laundering problem here in Canada.

Our government still denies that there are alot of foreign buyers in Vancouver. House prices up 25% last year. GDP & wages up 2% last year. You don't need a PHD in economics to figure out that foreign money caused the huge prices increases
Right, "tax expert", stick with what you believed about China, and keep wondering "how this fucking country get so rich and powerful" ? :P

About price increase, I pointed out that at this board 10 years ago: " history told us, Vancouver housing price doubles itself each and every 10 years". Well you can see my statement is still correct now... sorry I have no PHD in economics. Is it caused by "foreigners and their money"? Absolutely, at least for this wave of price increasing, free trade makes world smaller. And it is not a secrete here, we told this board again and again for years but no bear want to believe us, they just keep whine.... now you come here to tell me how shit local gdp was? :lol:

About government, as i said, it is smarter than you guys, Canada needs immigrants and their money badly, and is competing with other countries. Why? there is long story I have no time and will to touch it. :lol:
 
eyesthebye2
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Re: Bentall Centre sold to a Chinese insurance company

Sat Mar 05, 2016 1:26 pm

About government, as i said, it is smarter than you guys, Canada needs immigrants and their money badly, and is competing with other countries.
true Thompson.
Since the mid 80s when Canada changed it's targets for immigration to aggressively attract new Canadians to support our aging population.
Thankfully, we were probably the first country to realize this and made the change 30 years ago.
But I think the pendulum has swung too far. I don't think the Federal gov't ever thought that there would be such demand for 2 cities only...Vancouver and Toronto.
But what to do about it if we can't tell people where to live?
 
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jesse1
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Re: Bentall Centre sold to a Chinese insurance company

Sat Mar 05, 2016 7:49 pm

But what to do about it if we can't tell people where to live
Why do anything? Free markets and all, I was born in Canada and despite all the RE insanity in Vancouver now I choose to remain. It's a nice place, I can find what I need and not be bothered with the stuff that would otherwise bother me. Not so bad a life. And beats -30 with the wind chill...,:)
There is no shame in overpaying
 
reallyreal
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Re: Bentall Centre sold to a Chinese insurance company

Sat Mar 05, 2016 9:12 pm

But what to do about it if we can't tell people where to live
Why do anything? Free markets and all, I was born in Canada and despite all the RE insanity in Vancouver now I choose to remain. It's a nice place, I can find what I need and not be bothered with the stuff that would otherwise bother me. Not so bad a life. And beats -30 with the wind chill...,:)
Everybody loves the invisible hand - yet those that love it didnt seem to complain in 2008 when the govt intervened when housing prices were collapsing.... Or when cmhc pushes risk from the banks to govt.
 
tdma800
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Re: Bentall Centre sold to a Chinese insurance company

Sat Mar 05, 2016 9:14 pm

But what to do about it if we can't tell people where to live
Why do anything? Free markets and all, I was born in Canada and despite all the RE insanity in Vancouver now I choose to remain. It's a nice place, I can find what I need and not be bothered with the stuff that would otherwise bother me. Not so bad a life. And beats -30 with the wind chill...,:)
thats becaus people drip with envy of what others have
 
reallyreal
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Re: Bentall Centre sold to a Chinese insurance company

Sat Mar 05, 2016 9:17 pm

What are those generous programs? I can not recall any one of them. A new comer once asked me the same question, I tried very hard but failed to answer it. :P Can't blame me, What I know is that rental allowance of $375 in welfare hasn't been changed for years, probably for past 20 years, that can be called generous. Guys, we are piss poor, admitted. Do not live in your own small world any more.
Ohhhhh - so which is it? Canada is great place or Canada isn't a great place. Make up your mind.

Maybe jump back on the boat your crawled from and go somewhere else. :mrgreen:
I am glad to take keys from your mother inlaw's hand and kick you ass out off the basement.
Hahahahahaha... wishful thinking. Nice try.

Say hi to your circle jerk lover at your next session.... Whatever happened to him anyways? Lovers quarrel? LOL
 
tdma800
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Re: Bentall Centre sold to a Chinese insurance company

Sat Mar 05, 2016 9:21 pm

nothing wrong with a foreigner buying stuff with more money into the economy
 
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jesse1
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Re: Bentall Centre sold to a Chinese insurance company

Sat Mar 05, 2016 10:41 pm

Everybody loves the invisible hand - yet those that love it didnt seem to complain in 2008 when the govt intervened when housing prices were collapsing.... Or when cmhc pushes risk from the banks to govt.
I love invisible hands and was complaining about government intervention in 2008. My us finance acquaintances are taking bets what year Canadian household debt rolls over. Over/under is 2018.
There is no shame in overpaying
 
whattodo
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Re: Bentall Centre sold to a Chinese insurance company

Sat Mar 05, 2016 11:39 pm

Thompson,

Point Grey home sells for 9 million. 11 offers all cash, no subjects, all Chinese buyers.
None are Canadians and the money is laundered. :twisted: Justify this all you want but this is what you are supporting & it will screw over future generations or real Canadians.

I saw a comment in one of the newspaper articles about this & A Chinese person said:
I forget the exact quote but it went something like this:
Canadians must be idiots! Allowing foreigners to buy up all their prime real estate without even putting up a fight. Wait until we discriminate against all the Caucasian people & their kids in 10 years when we are the majority. The USA would never allow this to happen.
 
tdma800
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Re: Bentall Centre sold to a Chinese insurance company

Mon Mar 07, 2016 3:47 pm

Home in a nice area sells for a big price, and people discriminate and complain OMG someone bought a house. As if it matters.
 
whattodo
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Re: Bentall Centre sold to a Chinese insurance company

Mon Mar 07, 2016 10:00 pm

TDMA,

Just answer one question for me. A simple yes or no will do.

Do you agree that foreigners should be allowed to launder their money by purchasing Vancouver real estate? Because this is what is happening whether you realize it or not.
 
westcoastfella
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Re: Bentall Centre sold to a Chinese insurance company

Mon Mar 07, 2016 10:58 pm

TDMA,

Just answer one question for me. A simple yes or no will do.
Dude, please stop feeding this troll...

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