Vancouver Housing – Change Will Not Come From Policy

“If by cool you mean actually reduce the value of people’s major asset, their home, clearly we were not interested in taking that step,” said de Jong [BC Minister of Finance, and owner of 8 properties in Abbotsford]. …
Critics say the budget amounts to half-measures from a government that’s stuck between not wanting to intervene directly in the housing market and needing to look responsive to public frustration. …
“It [the tax break on new homes] will probably be effective to some extent but I don’t think you’re going to see a dramatic change,” added Ken Peacock, B.C. Business Council’s chief economist. It would be “very difficult” for government to change the housing market prices, he said.

– from ‘B.C. budget offers help to buyers of new homes’, Vancouver Sun, 16 Feb 2016

The announced tax break on new homes will have no effect on the market and no effect on affordability. If anything, it will juice the market further by a small amount – it will simply increase prices of said homes by the amount of said tax break, as (largely local) buyers continue to extend themselves into as much BC RE as they can afford, drunk with the certainty that riches will ensue. Only the cold hand of Mr. Market will eventually stop this trend. – vreaa

84 responses to “Vancouver Housing – Change Will Not Come From Policy

  1. “Cold hand of Mr. Market”. Love it.

    It’s all posturing and a misplaced sense of control. A soft landing can’t be engineered. This bubble is going to burst violently, spectacularly. And people will wonder, “how did we did not see it coming?”. Of course, blame will be assigned to everyone except oneself.

    • And if vancouver real estate doesn’t crash 75% or even 50% like you suggest who are people going to blame? You? Vreaa? They only have themselves to blame also.

      • There is no “if”.

      • Wow, them fighting words son.

        Listen to this arrogance coming from someone who has been wrong for a decade. There is no if, you make me laugh dude. 2 years 9 monthes. You better hope your prediction comes right because if it doesn’t, all this “there is no if” will come back to bite you.

        Notice how vreaa has stopped with her predictions… what, you want me to pull all those graphes from 2011 back again?

      • What’s that saying? Never say never?

        Also, what if the price went up another 50% this year and then dropped 50% or 75%? It is still going to be bloody expensive and unaffordable.

      • You two are the textbook definition of the Greater Fool.

      • Fighting words is right, Brian. Why don’t you grow a pair and do the same? All we get from you is wishy-washy BS. Oh, it could go up, though maybe it will go down, but only in this market, and not in these other ones. For goodness sake, take a position, man.

      • I thought my position was pretty clear. Only someone like you don’t understand. Detached homes in burnaby, vancouver richmond and west vancouver will move higher in the near future. Btw, I called this a year ago and have been dead on the money. I am now saying that this should still be the case 3 years from now. Take what the average detached price today and it should be higher 3 years from now than what it is today in those 4 areas I highlight. Unlike you, I actually know this segment. Also unlike you, I stick to commenting on what I know well.

        I am still waiting for that segment analysis from you btw. Come on, prove your worth here, tell me, take a segment, define the segment, tell me who is buying and who is selling, what is your prediction in this segment. You obviously have no clue since you don’t live here. Hence, you are just like any other armchair stock analysts out there.

      • “Higher in 3 years”. Duly noted.

  2. China Capital Flight 2.0: Lose A Lawsuit On Purpose

  3. geese+golden eggs: “Move over kiddos. We are moving in.:

  4. rod_jonsson_pmd

    pffft! … superbowl takeaway #1 – … so exporting resources died, what’s left? … flipping your house until the credit ponzi collapses? … serf-ing what foreign flows one might hope to catch a ride? … what unholy mess is this …

  5. @El Ninja – and what are you? After being wrong for years and refusing to admit it?

    And what’s your prediction? Aside from there will be a crash, potentially in the next 20 years?? That’s not really useful nor helpful.

  6. 25 years ago – had a neighbour back east, originally from Calgary, an architect. She had acquired a house in Calgary by assuming a defaulted loan when that market was tanking (the way it is now). Didn’t even have a credit card. She rented it out when she came to work in the Maritimes. Has it ever been that bad here?
    Ian and Sylvia sing about going to Alberta: “got some friends that I can go to workin’ for”. Why else do they go? The Stampede?
    It really is different here. Who moves to Nova Scotia? They’ve had no population growth, and what’s there is aging. Care to invest?
    Newfoundland? Very cool. Freezing. Hibernia was their big hope after the cod were decimated. What’s left? Moose?
    PEI? More boring than a potato. NB? Blech. Quebec? Great. Love the culture. Especially great if you are a francophone. Live there? Have done, several times. See those squeegee people at Vancouver intersections? Francophone Quebeckers who can’t handle one more winter. The provinces between here and Quebec? Zoom. Get gas. Zoom.
    In BC, if you want a city, and don’t want to be stuck on an island, that leaves Vancouver. If you can’t afford Vancouver, that’s understandable. There are millions who want to be here and a lot of them have the readies. It’s a competitive world. “You can’t always get what you want …”

  7. YVR Housing Analyst (@YVRHousing)

    They did raise the PTT on $2mm+ purchases. Also deJong was tubtexting they will start going after tax evaders. We’ll see but the Liberals are weak if they do nothing and the opposition uncovers widespread tax evasion due to lack of oversight by regulators

  8. YVR Housing Analyst (@YVRHousing)

    Also I fail to see how owning properties in Abbotsford is a conflict of interest about affecting properties in Vancouver proper. The valley is a different beast

    • Royce McCutcheon

      Detached houses in the Fraser Valley, as of December last year, were up over 20% yoy (over $100k). I believe de Jong has been tipped as having real estate holdings in this province worth in excess of 7 figures.

      He is the public face of the BC government’s attempts to tackle affordability issues here and he has publicly stated his intention to “preserve” people’s equity and never table a measure that leads to declines in prices.

      That’s a COI in a province with affordability issues (to different degrees) in many places. It doesn’t have to be Vancouver-specific.

  9. What has changed in the last decade or two or three? Global population growth; the massive transfer of wealth to the baby boomer generation; and the currently depreciated dollar are a few things that come to mind. The post Madoff stock market miasma factors in. There’s more.

    • More importantly.. demographics… of Vancouver.. look at percentage of asians in the 80’s vs now, you have your answer.

    • rod_jonsson_pmd

      #1 factor in what has changed is ww credit bubble … that has peaked and is now falling apart

    • @Arnie. I was referring to your observations about the various locations you cited in Canada. The relative attractiveness of each have always existed, and therefore cannot be attributed to recent price escalations in Vancouver. Have there been other changes in the interim? Of course. I don’t believe they’re the ones you mentioned, though. The number one factor in my opinion is sustained low interest rates.

      @Brian. Sorry, I don’t buy it. If Asians money / culture caused prices to detach from local fundamentals, as you assert, we would have seen historical evidence of that in the region’s heavily Asian-populated areas. Richmond, for example, has never been more-expensive, all else equal, than other parts of the city where there are fewer Asian residents. Please explain that.

      Fact is, Asian money is a contributing factor but it is at the margin. The real driver is cheap debt and the mass speculation it has engendered.

      • Err… Explain to me where in Burnaby, Vancouver, Richmond and West Vancouver do you not find chinese dominated sub-markets in the single detached homes. Even the pockets of volume when you find local dominated areas most of the down payments are fueled by Chinese money. So in fact, chinese dominated areas have destroyed the rest of the areas in price growth in absolute terms. Vancouver West is a chinese dominated area, just go to Point Grey, Lord Byng, UHill, basically any west side high school and see the composition of its students or go to any open houses and see who is there. And that has performed far better than any other area in Vancouver. The fact that you think Richmond is the only chinese dominated area in terms of house purchase shows how little you know about what is happening in the current market. Vancouver West market is all Chinese right now. You really think locals can afford 3 million dollar homes???? Seriously….

      • Btw, actually, just look at Andy Yan’s research. His research shows that Vancouver West market is dominated by Chinese buyers over the last couple of years. Guess which market has performed the best out of all the areas.

      • You really must improve your reading comprehension, Brian. I said HISTORICAL evidence. Ten, twenty years ago the areas you mentioned were NOT Asian-dominated. Richmond, however, was. And yet, mysteriously, Richmond was no more expensive relative to local incomes than anywhere else. Explain that. C’mon, second chance.

      • Am I reading this correctly? You are comparing the chinese people who came here 10 years ago and 20 years ago to now??? And you know Vancouver???? Dude, don’t embarass yourself. When you were still here… actually that’s when my family came, about 20 years ago, every chinese person who came here from China was practically penniless, people started with a couple thousand bucks. And every Chinese person now who comes here has about a million dollar networth at a MINIMUM. Even at that time, properties in locations dominated by hong kong buyers who actually had money rose a lot faster than anything else. You could say that it is not so much culture but rather rich people migrating that is causing this change in the market. Which btw, is also correct. But regardless of how you want to spin it, there is a significant demographic shift toward asians, particularly those who have money. Unless Andy Yan’s research is absolutely bogus or you think Vancouver West side detached is an inconsequential part of the market, this shift is having a huge effect on the market. So if you want a more defined statement, the migration of wealthy asian people has shifted the demographics of Vancouver and thus is having a large effect on the market. Is that good enough for ya?

      • Uhm…prior to the HK invasion in the 90s, the common prevailing wisdom was never buy in Richmond. When we first came here, there are still farms on No 3 Road!

        When the Fantasy Garden was free for public for a while after the sale by Vander Zam(sp?), the trip to there feel like a camping trip down to the idyllic country side. Look at that area now.

        So to answer your question, yes, historically as in 90s/00s, Richmond is a lot cheaper than it is now, and the gap was perhaps wider. But if you plot the pre-90s Richmond prices vs post-90s Richmond prices there is probably a structural shift, just as 90s prices vs post 2000 prices.

        Richmond probably has grown as much as Surrey in the last 25 years, relatively speaking.

      • “You could say that it is not so much culture but rather rich people migrating that is causing this change in the market.”

        And there you have it, folks. Presented with reality, Brian dodges once again. After months of grinding on about Asian culture (they can’t marry unless they own, blah blah), and how fundamental it is to explaining Vancouver RE, it turns out that’s not so important anymore. How convenient!

        Dude, you are so full of horsesh*t, the stink is coming through my computer.

      • Look who is dodging. You convenient ignored the demographic shift that has clearly caused the rise in prices in the segment that I am most interested in. What, you are going to tell me the fact that the majority of buyers are chinese has nothing to do with why single detached homes in the four areas i mention are no longer attached to fundamentals. Actually they are attached to fundamentals of price to income, just the income isn’t here. You have yet be able to present an argument on how in the world a local person could possibly afford the prices in my segment. And worst of all, I am still waiting for you to prove that you actually know what is going on in any segment of Vancouver, buyers, sellers, etc. You have no clue because you just hear anecdotes. Armchair stock picker.

  10. When my parents bought their 750 sq ft row house on the east coast, they did not use a buyer’s agent; there was no seller’s agent; it was not on the MLS; there was no home inspector, mortgage broker, or bank. They knew the people. They paid cash.
    Low interest rates are a mitigating factor but, for many, it doesn’t even enter the picture. The cash is sloshing around making zero return; looking for a safe haven. Dirty money, or legitimate earnings – is it better to buy real estate, or gift it for use by the banksters and stock market fraudsters? Is there another investment that lets you live in it – and provide tax free gains when you sell? Real Estate might be a game, but it’s the best game in town.
    Funny how Surrey became Little India, while Vancouver/Westside/Richmond are dominated by Chinese. It’s the land. Try and buy a chunk of land in India to put up a house big enough for an extended family.
    As an aside – what a shame the Steveston streetcar track was destroyed. That lovely little village would be more popular than Granville Island had it remained instead of the Vancouverite’s: “Hey, it’s a nice weekend, let’s go to Steveston.” Myopic.
    Another aside – the North Shore, White Rock, and Steveston have vicious daytime mosquitoes. Vicious. The rich postal coders in West Van will insist these nasties are just down towards the water. What else would they say? “We’re rich; we can afford the best; but we can’t go outside because of the disrespectful mosquitoes?” Don’t bother asking the agent meddlemen if it’s true.
    The North Shore – horrible bridge traffic – life-shortening horrible; a claustrophobic ferry, and rain, rain, rain. And vicious mosquitoes. And lots of Persians (Iranians) – that’s the good part. And Deep Cove – when it’s summer, on a Friday, at the outdoor concert; going for a swim in that frigid water. Too bad most of the time it is so bloody dark. Dark Cove.

    • I actually find a lot of humor in your comments. We may not agree on agent motivations and / or structure of houses but it is interesting to see how a local view this invasion of wealth. But I guess you have a good point, weather it is Jim Pattison the billionaire or some chinese billionaire, to the locals, they are probably all the same, both made their money off the backs of the poor, probably both equally corrupt. Whether Vancouver will be domiinated by one or the other is all the same really.

      • The difference between Arnie’s comments and yours is that Arnie’s are colourful. Yours are vacuous. Take your last one, for example. An entire paragraph that offers absolutely nothing of interest to anyone. How do you fill so much space with so little? It’s mind-boggling.

        Say something new, Brian. You’re a broken record. China, China, China. Your friends, if you have any, must be ready to strangle you.

      • Again, I think to anyone who actually has tried to buy a house, sold a house, do anything with a detached home in the last five years they will know who is blowing smoke. But I leave it to the readers to judge. But have you actually said anything new? Your entire thesis is that based on macro stats this market must implode. You have provided nothing more than I have. We are in reality, swatting each other. Difference is I actually am closely in touch with the market, you on the other hand, are not. But that’s ok, I could play this game all day long. You still haven’t provided me an ounce of proof that you are qualified to analyze the market because you don’t know who is buying, who is selling, what segment is outperforming, which one is under performing. You just like to paint everything with a broad brush. To you, a detached home in west point grey is the same as an apartment in richmond. How are you any different than the arm chair investors pretending like they know the inside on message boards.

        Btw, I could actually provide more info than China for this board, but it would be exactly what I said you can’t, segment analysis. I am supplied the data neccessary to do that, you don’t.

    • Have you ever considered that you, El Ninja the articulate snowflake, are directly responsible for about 75% of Brian’s comments? Think about it.

      • No one is obliged to respond to me, and I take no responsibility for anyone’s writings but my own. Do you?

      • I do like “articulate snowflake”, though. Nice.

      • @blammo, that’s ok, someone needs to lead the bears charge, or else it is no fun. Many bears left this board because they were saddled with predictions from many years ago of the impending doom and the opposite has happened. I am trying to get El Ninja to create his own such comments which can be archived for future reference.

      • Remember, Brian, that your comments are also “archived” for future reference. Time will tell!

      • I thought this blog only recorded comments for bears and deleted all my comments. Thanks for telling that my comments are archived. I really had absolutely zero clue about this. Your brilliant reminder has really enlightened my day about how blogs track past comments. I feel so much smarter now. This is the least “vacuous” comment that I have read this entire day. Now I must really watch what I say in case I end up like vreaa, yourself, and the other bears on this blog. What would have I done without you. .

      • Nevermind how your market predictions turn out–you’ve already made a fool of yourself. Forever archived are your claims about Chinese people sneaking in to Vancouver from Quebec, your failure to grasp basic tenets of investing, and, most recently, your sudden reversal on the importance of Asian culture in explaining Vancouver RE prices.

      • So what you are saying is, style points count for more than the end result. That’s usually the talk of losers. I have news for you. The ONLY thing that matters is the market prediction. Losers will come out and say yeah this and yeah that, etc, all that is just window dressing. In 9 monthes your first prediction will fail and in 2 years 9 monthes I am going to let you have it when your second one blows up as well. Good luck cause you will need it.

      • One more thing, about that Quebec thing that you mentioned, do you know how the QIIP work? And are you saying it has no effect on Vancouver? Is that what you are saying? If you are saying that, I have facebook pages of very worried Vancouverites about this exact program that you really should post a few soothing messages to, cause I am sure you can make them feel better, until they realize you have no clue what the QIIP is.

      • Oh, don’t get me wrong. Your prediction is going to prove disastrously incorrect. I’m just saying that, in the meantime, you’ve already shown yourself to be a greater fool.

      • Whatever you say sunshine. Given your track record, I wouldn’t be so cocky. We will see who the fool is in 9 month and see who the greater fool is 2 years 9 months later. But meanwhile, the fact you know nothing about the qiip shows what a joke you are.

      • Who said anything about nine months from now? Not I. Check your facts.

      • Talk about back peddling. November of last year. You said the market will drop 50 to 75 percent, 1 to 3 year time frame when I pressed you for a prediction. You want me to dig it up for you? Your front end of that time frame is about 9 months. I note how that has changed to 2 to 3 years now are we changing timelines again? And the detached market has gone up since then. If you want I could dig it up to refresh your memory.

      • I’m not back peddling; never said there would be a crash of that magnitude within one year. Three years, different story.

  11. Apparently macro event can prevent people from doing stupid irrational things like paying $700+ / sq ft for a box in the sky.

    • I mean macro data – fundamentals that El Ninja likes to harp on so much….

      And actually for a lot of housing options, fundamentals are actually in line, if you know which ones you should be looking at.

  12. Big news on the East Van realty front – Flakka Flockhart, the Emerald Chub – with the purple collar, has a listing! It’s a ground floor condo at Broadway and Kamloops. Pets/Rentals OK! Good thing, because you don’t want to live there.
    The MacIntosh “Team” of two is still hooking zero. Strategically located Goldman is having more success in his perfectly situated fishing spot, but he’s not really East Van.
    The wild cards are ads by two North Shore wankers – are they lost? This is East Van – you know – bridges, ferry. One is holding up her spawn. Oh gee, isn’t that cute – gotta do business with that one. Must be a real professional.
    And there’s a broker looking for agents. Why run with the dogs when you can just sit back and bark? Three fee plans! And they’re excellent. Excellentay. Send some commission my way. Newbies will get strong support and lots of noogies.

  13. Richmond vs Burnaby vs East Van vs West Side. Richmond has the airport. That’s useful. It’s also close to Steveston – nice. The Terra Nova park – pretty good, but it should have more zip lines. Very good library – crappy parking. It’s flat; full of ditches. Vancouverites always get lost. When the quake/tsunami comes, getting lost will no longer be an issue.
    Getting on or off Lulu is stressful. The Knight is a monster; the Queensborough/Alex are interesting – in the Chinese sense of the word. The Oak, the Arthur Laing – maybe all of Richmond should be an airport servicing the denizens on higher ground, living in glass towers.
    Towers. Known as machines for making money. Is anybody happy in a tower? Seriously?
    Maybe we should be like the Amish. When they reach a certain density, a group breaks off to form a new community. Someone interviewed in the ad rag Courier was quacking about the new “community” at Marine and Cambie. That’s not talking out of your ass – that’s squirting – that’s big floaters. Odds are there’s a shill game here – by the corporate interests of the owners of the Courier and the developers who spend massively in this crappy publication. Quid pro quo. Make our soul destroying tower developments sound livable, and we’ll keep advertising.
    Burnaby. Some parts are almost as good as East Van.
    West Side. If I were rich, I would not move to the West Side. I’d want a bigger better property in East Van. Stick your finger in the middle of a map of Vancouver. That’s Renfrew/Collingwood/Cedar Cottage. These places are convenient.
    When East Van – Hastings Townsite – was first settled, it was the ne plus ultra. There used to be a Castle Street. We still have Duke, Duchess, Earles, Kings, Queens, Rhodes, Wales … New Brighton was the place to see and be seen.
    Around 1913 developers pushed into the wilds of the West Side and the East Side lost some of its allure. That’s coming back, a century later. People decide they don’t want the agony of a commute (commuter – the dirtiest word in transportation), so they move to developments in Yaletown and Woodwards. Yes, no commute, but – no terra firma. You live in a unit. Units are the Dilbert cubicles of existence. You push elevator buttons. You don’t pee in your yard. That’s missing an elemental animal prerogative – marking territory. Yes, it comes to that. Don’t worry about investment or capital appreciation. Pay the millions – pee in your yard.
    Woody Allen said that one of the things that was important to him was knowing where to duck in to relieve himself. Jack Nicholson said to never pass by a bathroom. These guys know the value of having a peaceful place to shake the weasel.

    • I enjoy your words Arnie, and agree with your analysis.

      I would surely miss my Chinese grocers if I were to move to the West Side, especially the fresh, cheap fish.

      Better restaurants on this side as well.

      I can be on the 99, the Sea-to-Sky, or the #1 inside of 12 minutes.

      And I appreciate the hybrid demographic of my neighbourhood. Keeps me honest and free of envy.

      Haven’t marked my territory in a while mind you, think I’ll do something about that tonight. Give the skunks and raccoons something to think about.

      I do envy the proximity to good beaches on the West Side though. But I would surely loath all the suburban traffic it attracts in the summer.

  14. Here’s why the Fed — not the market — might be right about a recession

    Sam Zell:”We Are Already In Recession”

    Global economy heading toward recession

    • rod_jonsson_pmd

      funny thing about the fed … they accomodate for 7 yrs and now appear to have hiked exactly as the credit ponzi visibly starts accelerating down … if in retrospect, this measure is perceived as the policy error that triggers a great collapse … there’s a word for that

  15. Curious how we choose areas in which we feel comfortable. Take Queens Park, for example – a terrific place to walk around, if you’re interested in residential architecture. Nothing like the “custom” vomit construction in most of Vancouver. Ticky tacky, crude, and pretentious in Vancouver, and a plethora of McMansions in Richmond. What is the point of those two story foyers without any kind of an airlock – no mudroom? Terrifically uncomfortable – great for hanging yourself maybe.
    People in Queens Park say hello to you. Hate that. Leave me to my reveries, please. If I don’t make eye contact, I’m not fair game. And there are no Chinese Grocers. That’s a real yardstick for livability: char siu, bbq duck, gizzards – all good. The Great Two on Kingsway even has bbq goose. Bring it on. Got that in the West Side?
    Strathcona is very cool to walk around in – crazy houses – crazy prices. If anyone sells their property and makes out like a bandit, they should contribute to the erection of a statue of Shirley Chan. If not for her, Strath would be a freeway. Part of the inscription should read: don’t believe the mofos at City Hall.
    Shirley Chan – you are an icon. A hero.
    Resist the powermongers. They used newspapers as propagandistic clubs – calling your home an unliveable slum. Who reads their bs anymore? I haven’t bought a newspaper in 23 years. Never will – ever again.

  16. Crappiest, most convoluted, bizarre real estate description of the week prize goes to agent Eric “the Funk” Fung, for 3681 E 26th – makes the Sneaky Peak Freaks sound less repellent.
    The house is revolting too.

  17. Eric the half a bee
    When is a bee not a bee?
    When it’s Eric “the Funk”
    In realty

  18. People love going to Open Houses – almost as much as meddlemen love having them.
    People are transfixed when they approach – their eyes straight ahead – drinking in the primped, lipsticked object in front of them. Peripherally, they might notice some fancy cars – subconsciously thinking it must be a good neighbourhood; not realizing the fanciest rides belong to agents. They don’t look to the left or right – the neighbours. The only neighbours that really matter are the ones immediately to either side and to a lesser extent in the front and back. They are the ones that can make your life a living hell. The rest are someone else’s concern.
    If you do go to Open Houses – always look left and right – just like your Mama told you. There was one place that sat unsold for awhile – the house beside had a sign saying Bat Cave (still there – query it) – the windows were open with massive speakers visible, and debris in the yard. Want to live next to that? Most weird situations are not that obvious. Be like Sherlock, or hire someone. That’s a novel “Subject To” clause – along with the home inspector – a neighbour inspector.
    Don’t go through the front door when you arrive. When you take your shoes off you leave a piece of your brain behind. Go around the house first, while your faculties are still intact. Only after, should you so choose, go inside. This way, there’s a good chance of getting inside without taking your shoes off at all. Score a point for the Looky Loos.
    Of course you’re not there to buy – that’s not the point of Open Houses anyway. They are simply the #1 promotional tool for meddlemen – the best way to pump up their profile, and acquire new listings. And they get to dress up and look busy. The sign in the yard proclaims: “The owner of this house is my bitch. Pay attention neighbours, because if it doesn’t sell immediately because of my bullshit evaluation, your job is to make the seller look stupid. Then I”ll hammer them on price”.

  19. Tiny apartments unveiled at UBC
    Self-contained apartments being built as affordable student housing

    Read more:

    Best quote of the article:
    His friend Kennedee Fung agreed.
    “Where I’m from in Asia, houses are famous for being small,” she said.
    “And this is even smaller than the ones we usually live in. So it’s kind of ridiculous.

  20. Was just looking at a book called Coastal Lives, a memoir, by Marjorie Simmins – a former Vancouverite – now living in Halifax with her lubby dubby, also from Vancouver. She mentions opening the curtains and crying when she lived in Cape Breton – the weather was that brutal – housebound. And writes that the snow doesn’t fall vertically, but horizontally. She now says she’s a happy Maritimer. Right.
    But for the weather comments, the book was not worth lugging home from the library, and was, of course, only published with a donation from the Canada “Arts” Council – your tax dollars at work. No one outside of immediate family would ever pony up their own cash for this boring book. Marjorie now teaches memoir writing. She should teach how to game the system.
    UBC. What a profitable fiefdom. Those who can, do; those who can’t, teach. More gaming of the system – a monument to an anachronistic way of learning. And why concentrate all these faculties at the tip of the peninsula? It’s inconvenient. Break it up and bring it to a central area: BCIT; Emily Carr; SFU – don’t require a new Skytrain line. Of course, it’s fun to sardine people while charging them huge amounts of money for stuff they could mostly learn on their own, but this is our tax money, for transit, to a place that should not be this behemoth.

  21. Hard to believe, but this week’s Eastside REW is even thinner than last. More extraordinary, Flakka Flockhart has picked up another listing – and it’s an honest to goodness house. Yes, the Emerald Chub is the pride of Park Georgia Realty. The President is doing the Flakka Fandango.
    And, it’s on a “quiet, non-thru street!” Quiet? Fraser St. is a 100′ away. He must mean all the dead people on the other side of Fraser in Mountainview Cemetery. Build a new house and you’ll have a view of all the tombstones. See the wealthy Chinese buyers lining up.
    The MacIntosh “Team” of two is still pissing away money on their ad without hooking a list.
    Ho Sandhu
    always have a few
    but they work for builders,
    not for you.
    That seems to be their angle – get a “lot value” property, for builders to turn into duplexes. There’s way more money in tearing down a perfectly good house and turning it into an ugly basement house than simply reselling.
    The bald booger brothers have no ad this week, but there’s a new pair of stunning agents sharing a scintillating listing – a condo on McGill St. for the shattering price of $249,000. Once they split the commission they’ll make hundreds of dollars. Bye, bye, Toyota Corolla.
    Strategically located, perfectly situated, fantastic spacious Goldman is the only agent with lists, but he’s not above slumming it with a $247,000 condo on Eton.

  22. Gotta mention Salim “the Shiv” Shivji – a new pimple in the Eastside REW – has a listing on the same street as Flakka. Guess Flakka doesn’t have an exclusive on graveyard views. Bonus – it overlooks Alex Mack Elementary, so, if the potential views of the dead gets old, you can enjoy the screaming kindergardeners – every day; every recess; every lunch; every after school. And don’t forget the Mommy vans – that’s always entertaining.
    So, if you’re at loose ends this weekend, and enjoy picnicking in a graveyard, you can make a day of it.
    There is a concept in real estate called stigma – properties that are stigmatized by events such as suicide or murder. In some jurisdictions it is incumbent on the agent to disclose this to buyers. If an agent chooses to hide this – they are liable. Isn’t it logical to expect these honest, lovable, altruistic, sweet, charming, dripping with integrity, sincere bullshit artists to tell you a house is next to a graveyard? Or a chicken processing factory; or a rendering plant; or the Hell’s Angels Club?

  23. “Huang arrived in Australia in near-total obscurity. But big spending and relentless networking behind closed doors has seen him swiftly ingratiate himself with Australia’s most powerful politicians to become the figurehead of the new wave of “mainland money” coursing through Australia. On top of a fast-growing portfolio of property developments, Huang’s Yuhu Group is party to a landmark $2 billion Australian agriculture investment deal, endorsed by the federal government in late 2014.

    There is the question, however, of just how much the government and public institutions know about Huang, a prolific political donor who has funnelled more than $1 million into the coffers of both major parties since 2012, including through family members, his companies and staff.”

    “Fairfax Media can reveal Huang was caught up in a far-reaching corruption scandal involving senior government officials in his native Jieyang, a city of 6 million in the southern Chinese province of Guangdong, which prompted a hasty departure from his base in Shenzhen.”

  24. 2587 E 28 Ave – looks like an owl.

  25. One of the nicest things about East Van is that “Greedy Jim” doesn’t live here anymore – off impressing the hoity toities in West Van.
    But he’s left his mark here and everywhere with his disgusting billboards; like a megalomaniacal dog pissing on everything – even some hospital construction which some misconstrue as largesse. No. The money has to be spent, or lost to taxation, so, of course, it winds up with his name on it – a great promotional tool: “Look at me. I’m a benefactor, not a corporate psychopath.”
    We should respond with our own East Van largesse. There should be a park in his name – a dog park. And it should have a cute little statue of him in the middle of it – where East Van dogs can mark their territory. Yes, the Pattison Pissing Post Park – put it to a plebiscite. It will pass.

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