#8762655 - 08/16/16 01:31 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: Screamin' Type-R]
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Choco 'Nuck
Proud Member of BLM
Post Master Supreme
Registered: 07/10/01
Posts: 17568
Loc: Somewhere out there
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too many wynne pictures....
triggered 
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#8763778 - 08/17/16 11:32 AM
Re: Vancouver’s real estate tax sparks backlash from
[Re: Choco 'Nuck]
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OracerO
Post Master Sr
Registered: 10/07/02
Posts: 3949
Loc: GTA
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What's crazy is that these chinese investors aren't even considered "wealthy" in china. They're all "middle class rich".
These rich mainlanders don't care about the tax. They are only concerned with taking their money out of China and storing it. The appreciation in real estate is just a bonus.
Unless a recession hits Canada (recession come every 10 years, its been 8 years now since 2008), the money will keep coming.
In China, it's like a dog eat dog world. Man they are not civilized like Canadians, theyre just down right grimy and willing to do whatever it takes to survive. I think this is why the Mainlanders are taking the world by storm. They just don't give a f.
Edited by OracerO (08/17/16 11:39 AM)
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#8763847 - 08/17/16 12:14 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: TheRealCSnapper]
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OracerO
Post Master Sr
Registered: 10/07/02
Posts: 3949
Loc: GTA
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They eat everything
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#8766090 - 08/19/16 10:14 AM
Re: Vancouver’s real estate tax sparks backlash from
[Re: Screamin' Type-R]
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f22b-dohc
Post Master Supreme
Registered: 09/09/05
Posts: 11227
Loc: canadia
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**shit son**
hk washroon PWNED by mainlander
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"rolling -----on my 2.0, with the rag top down so my hair can blow..."
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#8766319 - 08/19/16 11:43 AM
Re: Vancouver’s real estate tax sparks backlash from
[Re: f22b-dohc]
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Choco 'Nuck
Proud Member of BLM
Post Master Supreme
Registered: 07/10/01
Posts: 17568
Loc: Somewhere out there
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#8770414 - 08/23/16 05:25 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: SuPeR-MaRiO]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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Euphoric is all about that doom and gloom, i believe we were all supposed to be homeless by now, we are always in depression as far as he is concerned.
Let's all wait for the good old days:
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#8770687 - 08/23/16 11:28 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: Riskhe Business]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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The recession is coming... got an offer today on one of my houses for 500K below asking.
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#8770775 - 08/24/16 07:35 AM
Re: Vancouver’s real estate tax sparks backlash from
[Re: Euphoricuck]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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"plenty of reporting"
cites zero evidence, le l
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#8770824 - 08/24/16 08:30 AM
Re: Vancouver’s real estate tax sparks backlash from
[Re: Riskhe Business]
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TheRealCSnapper
Post Master Supreme
Registered: 12/05/02
Posts: 31956
Loc: Toronto, Canada
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#8966734 - 03/07/17 02:37 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: TheRealCSnapper]
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fatso
Post Master
Registered: 12/12/06
Posts: 2323
Loc: Ontario
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No surprises here... curious to see when the market will get crazier.
The report, released Tuesday by Sotheby's International Realty Canada in conjunction with Juwai.com, said Chinese inquiries for listings in the Vancouver market slumped by 81 per cent year over year in July 2016, the month the 15 per cent tax was announced.
The report says interest from prospective real estate purchasers on Juwai.com immediately shifted into other Canadian markets following the tax's implementation.
Property inquiries shot up by 1,050 per cent and 420 per cent year over year in Calgary during August and September, respectively. Searches of the Toronto market rose 62 per cent year over year in August and 72 per cent in September. In Montreal, there was a dip in August, before a resurgence of 152 per cent year over year in September.
Link:
http://www.cbc.ca/news/business/juwai-sotheby-china-canada-searches-1.4013285
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#8966896 - 03/07/17 04:26 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: fatso]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29176
Loc: Toronto
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This is fantastic
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#8967247 - 03/07/17 09:56 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: 87ZCSi]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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Jeff, I hope you got over your emotions and just picked something up as the prices probably went up by 500K? since you started looking (except Oakville... seems like this stuck up city (nice "downtown" though) has been the slowest in the GTA to appreciate)?
I recently saw on the news that a teardown bungalow at Danforth/Pape sold for 1M?!?! Fuck! I sold my fully renno'd 2 storey detached (3 beds 2 baths upstairs, 1 ensuite in basement) for only 1.1M almost a year ago (paid 780... was content with 100K profit at the time).
And before we bash the foreign Chinese buyers for causing this real estate "bubble"... I highly doubt its the Chinese that wants a teardown bungalow in East York/Danforth Village. I've sold 2 homes in the area and they were both to young white people, domestic buyers.
Edited by xza8 (03/07/17 10:03 PM)
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#8967271 - 03/07/17 10:20 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: xza8]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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Some shady shit going on my hood now, some foreign family is buying up homes exclusively (private) for 200-300k over bidding war prices as long as you sell private on specific streets - i happen to be on one of them.
Let's say a bungalow will go for 1.3 through the normal process, they will give you 1.5 if you sell direct without listing with some INSANE deposits. I have the agent's card on my table (thanks to an anon CSIer) and i am looking at it every hour, they've already picked up a few homes in the last month all well over a mil for their "family members".
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#8967588 - 03/08/17 10:10 AM
Re: Vancouver’s real estate tax sparks backlash from
[Re: Riskhe Business]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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Some shady shit going on my hood now, some foreign family is buying up homes exclusively (private) for 200-300k over bidding war prices as long as you sell private on specific streets - i happen to be on one of them. Let's say a bungalow will go for 1.3 through the normal process, they will give you 1.5 if you sell direct without listing with some INSANE deposits. I have the agent's card on my table (thanks to an anon CSIer) and i am looking at it every hour, they've already picked up a few homes in the last month all well over a mil for their "family members".
They are trying to control supply. They don't want to go through MLS because that would be very public (details for private sales can still be found through the Land Registry but if not advertised, how would one know what's been sold?).
In a few years, they will sell their custom homes for a very high price and since they own several properties, they can "collude" (not sure if I'm using the right term) and not give in to lowballs.
A good example is the Angus Glen - West Village neighbourhood. The owners are generally well off and don't need to sell but will sell for a good price. Everyone slaps on a retarded list price, no major discounts, and eventually they get the price.
My 50' lot, 2 car garage was asking for $3M and I sold it for $2.8M after 7 months on the market (no breaks and showings every weekend). Got a few lowballs of $2.5M but if I was desperate and accepted the lowball offer, it would fuck up the comparables for everyone in the area.
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#8967802 - 03/08/17 12:18 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: xza8]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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Your theory sounds pretty far fetched, but I honestly wouldn't be surprised if it's exactly what they are thinking.
They also aren't Chinese 
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#8967886 - 03/08/17 01:01 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: Choco 'Nuck]
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iamfob
Post Master Supreme
Registered: 09/06/02
Posts: 24698
Loc: Out There
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#8968004 - 03/08/17 02:02 PM
Re: Vancouver’s real estate tax sparks backlash from
[Re: Riskhe Business]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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Some shady shit going on my hood now, some foreign family is buying up homes exclusively (private) for 200-300k over bidding war prices as long as you sell private on specific streets - i happen to be on one of them. Let's say a bungalow will go for 1.3 through the normal process, they will give you 1.5 if you sell direct without listing with some INSANE deposits. I have the agent's card on my table (thanks to an anon CSIer) and i am looking at it every hour, they've already picked up a few homes in the last month all well over a mil for their "family members".
Sounds like gentrification.
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