45 replies to this topic

[VicHockeyFan]

^ But new condos these days, are at least 50% rentals in some form, no?  If a condo never gets built, it creates zero rentals.  Some might be Air BnB, sure.  But at the same time, a hotel in James Bay is becoming a rental.  Another one in James Bay did a few years ago.  One in Esquimalt is too.

 

Look, if it is too expensive to live here, it's because we have made it so.  It's a great place.  So is Uplands and Rockland and South Oak Bay, but I never felt I'd be living there.

[sdwright.vic]

Prove the 50% rental thing... I think it's more 50% vacant or AirB&B.

[sdwright.vic]

Yeah know what... I lived in NYC for 10 years... I am never going to consider this place expensive. This place is a bargain...

[sdwright.vic]

Oh... and the hotel that is becoming rentals... ain't ever going to live their. I am old school and want SPACE!

[MarkoJ]

Prove the 50% rental thing... I think it's more 50% vacant or AirB&B.

 

Easy to prove (form B when transactions occur in buildings) and many buildings downtown are more than 50% rented.  For example, the Hudson is over 60% rented and is not zoned for short term rentals.

[MarkoJ]

^ Ya know just recently a realtor on this site celebrated the fact that Yates on Yates wad going to be two market for sale towers instead of one rental and one for sale. It kinda feeds into the intire "screw the little guy" thing. Sorry bUT I can't celebrate the move from rental to realtor making in a profit... especially since I know fo a fact they are one of the biggest felons in not paying there far share.

 

I am happy that there will be some condo inventory when we have the lowest inventory on record? I bought my first condo in 2009 for $198,900 at 834 Johnson at 23 years old (literally 50' away from Yates on Yates).  I was able to live in that condo and later I rented it out and it served me exceptionally well.  It's not all millionaires buying these condos.  For many people it is their first home.

 

A for a realtor profit that an extremely weak argument.....what are the odds I have a buyer that only wants to buy in the Johnson tower (the crappier location that was suppose to be the rental tower)? Extremely slim.

Edited by MarkoJ, 19 March 2017 - 07:00 PM.

[MarkoJ]

it's not really legal

 

I use this phrase almost every day.........for example, someone asks me if seller can give the tenants' notice so they can re-rent at a higher amount, etc.....the answer would be "that is not legal."  In my particular example, it isn't that the buyer is doing anything shady, but rather not familiar with provincial tenancy laws.

 

The list of examples is very long.

[MarkoJ]

BTW, isn't it interesting that Bob Rennie is the BC Liberals campaign manager.  You do the math.  : /

 

There is defintively something going on in my opinion -> https://www.youtube....92ej4ZZf0c&t=1s

[qv]

Maybe the cash is a payoff to the seller to sell for a higher price on record but then give cash back to the buyer. This both gooses the value of their investment and gets them a cheap loan of a few hundred grand to pay off their other debts. That is illegal...

If they did this they would pay higher property transfer tax.

[akimbo]

How do you mean by "full of empty houses"?  I'm sure we are unlikely to get to the point where we have 15% empty homes.  And that would be just fine, if our politicians would let us build 15% more than they do now.  That would be major win-win.

I mean that neighbourhoods in Vancouver have many empty homes owned by Chinese.  Ask anyone who lives there.  The street where we rented for 12 years is a ghost town.  Used to have a block party every year but after a while there was no one to attend.  Beautiful heritage houses are gone forever.  Trees gone (so what's a $200 fine to a billionaire? )  The new house across the street was flipped multiple times.  We went to an open house after a few years and it was evident the house had never been lived in.  There was still plastic covering over the appliances.  Wealthy Asians buy Canadian real estate because it's a safe place to park their money.  Meanwhile, Canadians end up pushed out of the communities where they rent, work, and hoped to buy and end up in smaller, expensive, homes requiring commuting to work.  And we shouldn't need to build in our much-needed farmland just so wealthy foreigners can take advantage of weak regulations. 

Edited by akimbo, 19 March 2017 - 07:47 PM.

[dasmo]

^^Like one of those Three's Company episodes where Mr. Roper hears something through the plumbing.

Laughing out loud... but silently....

[akimbo]

Sold in 4 days for $851,018.   Listed for 699,000.   Can anyone find out who bought it?  MLS 375226

[VicHockeyFan]

Can anyone find out who bought it?  MLS 375226

 

That's not public information.  Yet.

 

And our farmland is not valuable.  It's a shame its being used as farmland, quite frankly.

[akimbo]

That's not public information.  Yet.

 

And our farmland is not valuable.  It's a shame its being used as farmland, quite frankly.

Hmmm, so where is our food supposed to come from? 

[VicHockeyFan]

Hmmm, so where is our food supposed to come from? 

 

Where the vast majority of it comes from now, elsewhere.  Fraser Valley, Alberta, Cowichan, Prairies, plus of course all the foreign imports.  All fine places to grow food and livestock.  We should not be holding peninsula and Metro Vancouver lands for farming.  It's a low, low use.  And it's very artificial, the way we have devalued that land with ALR. In fact it's a massive farm subsidy.

[Matt R.]

About half of the food consumed in BC is grown in BC, FYI.

Matt.

[VicHockeyFan]

About half of the food consumed in BC is grown in BC, FYI.

Matt.

 

Perfect!  But not on the Island.

 

And in BC it's all over the place.  Grains, only 14% of our consumption.  Fruit, over 160%.  That's the beauty of trade and supply chains.   The fact is, we could be 100% self-sufficient, and "food-secure" tomorrow, if we had to.  But we do not have to grow oranges here, because it's cheaper to import them.  And barring WW3, that will not change.  

 

Now, Oak Bay would be harder pressed to be food-secure, but why are they not setting aside farmland just in case?

[Matt R.]

You sure edited that last post to add a lot more information.

Matt.

[LJ]

You sure edited that last post to add a lot more information.

Matt.

You have to quote them really fast to ensure validity.

[VicHockeyFan]

You sure edited that last post to add a lot more information.

Matt.

 

Yes, I added more information to put my remarks in context.  And I wanted the numbers to be at least 90%* correct.

 

*usual