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#8796034 - 09/21/16 09:34 AM Nine Students Own $57 Million of Property in Vancouver
Wildout Offline
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Registered: 11/26/07
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 Quote:
In Vancouver, AKA real estate's Twilight Zone, a bunch of students own $57-million worth of property in the city's affluent Point Grey neighbourhood.

These nine homeowners, who we can only assume have never had to subsist off instant noodles, are literally listed as "students" on land title documents obtained by BC's New Democratic Party.




http://www.vice.com/en_ca/read/nine-students-own-57-million-of-property-in-vancouver

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#8796444 - 09/21/16 02:25 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: Wildout]
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yup, a farce.

but hey they will do anything to skirt the system i guess (as we know already). sad and lame of Canada to not have better checks/balances in place to curb this kinda stuff but oh wel.
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#8796500 - 09/21/16 03:09 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: Wildout]
iamfob Offline
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Cray
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#8796544 - 09/21/16 03:42 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: iamfob]
TheRealCSnapper Moderator Offline
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Registered: 12/05/02
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Loc: Toronto, Canada
the problem is not them defaulting on the mortgages...what sort of checks & balances do you want?

if the bank underwriting the mortgage is willing to take on the risk, and these people are making the payments, the banks don't really give a fuck if they worked for the money or sucked dick for money....

and the one guy who made $1.5M on a flip is any indication, they're way better at making money than us working chumps lol

i'm not saying it's right, but i'm not saying it's wrong...if the people that are taking on the risk is okay with it, let them have at it

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#8796587 - 09/21/16 04:43 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: TheRealCSnapper]
titty sprinkles Offline
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Registered: 08/22/05
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Loc: Toronto,Ontario
lol "students".....rightttttt
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#8796649 - 09/21/16 05:47 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: TheRealCSnapper]
JEFFOS Offline
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 Originally Posted By: TheRealCSnapper
the problem is not them defaulting on the mortgages...what sort of checks & balances do you want?

if the bank underwriting the mortgage is willing to take on the risk, and these people are making the payments, the banks don't really give a fuck if they worked for the money or sucked dick for money....

and the one guy who made $1.5M on a flip is any indication, they're way better at making money than us working chumps lol

i'm not saying it's right, but i'm not saying it's wrong...if the people that are taking on the risk is okay with it, let them have at it


It's wrong because it's an uneven playing field for those trying to live and work and contribute to Canada. Basically the average Canadian. The average family can't afford a house and to live a normal life (as defined just 5-10 years ago) because of these outside investments. As a first world country this doesn't align. It's worse than in the USA where the income is much more concentrated at the high end and still in most places housing is more affordable (and taxes less)

So the people coming in and doing it I understand (however the system allows them to skirt many things and I'm sure taxes -- students with no income buying $1.5M+ houses). The government needs to step in and correct the system so it can't be taken advantage of in such a way.
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#8796716 - 09/21/16 07:47 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: JEFFOS]
c2k Moderator Offline
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lawsuit filed against bc government on the tax

http://www.cbc.ca/news/canada/british-co...y-tax-1.3769751

WAHHHHHHH cry me a river, GFTO.
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#8800965 - 09/26/16 02:15 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: c2k]
OracerO Offline
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Registered: 10/07/02
Posts: 3949
Loc: GTA
i wish i was one of those students.
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#8800998 - 09/26/16 02:36 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: OracerO]
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 Originally Posted By: OracerO
i wish i was one of those students.


no you don't because then you would have to spend $57 million to fix your bruckup teeth
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#8848631 - 11/10/16 08:37 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: Screamin Type ARGH!]
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OH HEERRROOOOOOOO

http://www.calgaryherald.com/vancouver+slaps+year+empty+homes+about/12372683/story.html
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#8848715 - 11/10/16 09:36 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: Screamin Type ARGH!]
Risky Business Offline
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Registered: 05/17/10
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Proper. I just came back from van city and these fucks are literally ruining the best part of our country.
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#8848745 - 11/10/16 09:56 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: Risky Business]
JEFFOS Offline
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Registered: 01/27/00
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A bit late but I love that they're at least doing something about the issue with home affordability / availability
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#8849730 - 11/11/16 03:27 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: JEFFOS]
Wildout Offline
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Registered: 11/26/07
Posts: 1767
Are they back-dating it? That would be instantly amazing!
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#8850326 - 11/12/16 03:28 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: Wildout]
Screamin Type ARGH! Offline
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so apparently regular like 2600 sq ft richmond hill single detached homes (yonge and elgin mills, say 5 yrs old) with nothing much done to them are now going for $1.8 mil...



WTFINFUCK
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#8850369 - 11/12/16 05:09 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: Screamin Type ARGH!]
Big Tasty Offline
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Registered: 02/10/02
Posts: 19600
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Madness.
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#8850380 - 11/12/16 05:36 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: Big Tasty]
Choco 'Nuck Offline
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Registered: 07/10/01
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Look at the community there to see who is buying .
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#8850546 - 11/12/16 09:11 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: Screamin Type ARGH!]
xza8 Offline
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Registered: 12/18/09
Posts: 1065
 Originally Posted By: Screamin DC2R
so apparently regular like 2600 sq ft richmond hill single detached homes (yonge and elgin mills, say 5 yrs old) with nothing much done to them are now going for $1.8 mil...



WTFINFUCK


Like this house?

http://gtasoldview.com/Form/public/SoldResult.aspx?tfm=1&HouseSoldId=225765367

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#8850625 - 11/12/16 10:47 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: xza8]
The Postman Offline
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Registered: 02/13/02
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LOL. That house is $450K here in Hamilton. Save yourself a cool mil and commute.
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#8850869 - 11/13/16 10:58 AM Re: Nine Students Own $57 Million of Property in Vancouver [Re: The Postman]
c2k Moderator Offline
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Registered: 05/21/00
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Loc: Wiesloch-Walldorf, Germany
As much as I can vouch brinbrook, stoney creek, ancaster, upper Hamilton, dundas being a nice place to live. But youd be out of your mind to commute from there to the city.

Side note - there are a handful of houses for sale off of Mississauga road that are empty.
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#8852094 - 11/14/16 03:19 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: c2k]
Screamin Type ARGH! Offline
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such impact much wow =\

https://www.thestar.com/news/queenspark/...fer-rebate.html
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#8852360 - 11/14/16 06:34 PM Re: Nine Students Own $57 Million of Property in Vancouver [Re: Screamin Type ARGH!]
c2k Moderator Offline
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Registered: 05/21/00
Posts: 19289
Loc: Wiesloch-Walldorf, Germany
 Originally Posted By: Screamin DC2R




Holy fuck! The government is hilarious!!!!!
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