#8796649 - 09/21/16 05:47 PM
Re: Nine Students Own $57 Million of Property in Vancouver
[Re: TheRealCSnapper]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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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.
_________________________
-Jeff
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#8800965 - 09/26/16 02:15 PM
Re: Nine Students Own $57 Million of Property in Vancouver
[Re: c2k]
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OracerO
Post Master Sr
Registered: 10/07/02
Posts: 3949
Loc: GTA
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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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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47669
Loc: T.O. - Canaduh
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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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"Ban low performance drivers, not high performance cars"
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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!]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44797
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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]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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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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-Jeff
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#8850326 - 11/12/16 03:28 PM
Re: Nine Students Own $57 Million of Property in Vancouver
[Re: Wildout]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47669
Loc: T.O. - Canaduh
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#8850380 - 11/12/16 05:36 PM
Re: Nine Students Own $57 Million of Property in Vancouver
[Re: Big Tasty]
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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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Look at the community there to see who is buying .
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#8850625 - 11/12/16 10:47 PM
Re: Nine Students Own $57 Million of Property in Vancouver
[Re: xza8]
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The Postman
A-List Member also The Man
Post Master Sr
Registered: 02/13/02
Posts: 4974
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LOL. That house is $450K here in Hamilton. Save yourself a cool mil and commute.
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