Tendency Towards Corruption Is Inevitable – How Do We Minimize Its Existence?

Posted on 14 September 2018 | 40 Comments


cartoon by Cheney

This entry was posted in 05. Where do Buyers get the money?. Bookmark the permalink.

40 responses to “Tendency Towards Corruption Is Inevitable – How Do We Minimize Its Existence?”

  1. El Ninja | 14 September 2018 at 12:55 pm | Reply

    Libertarianism / Anarcho-capitalism.

  3. Yvrhousing | 15 September 2018 at 6:53 am | Reply

    The typical way in oecd nations is using enfranchisement with assistance of the various estates. As we are seeing in Vancouver proper, anyone can run for office with a handful of supporters

  4. Sebastien (-80% bear) | 15 September 2018 at 7:13 am | Reply

    Burned Flipper of the day:

    3868 W 23rd Avenue, Vancouver
    May 2:$4,780,000
    Sep 14: $4,380,000
    Change: – 400000.00 -8%
    A: $4,317,000 (Bought May 2017 for 4.475 mil$)

    • Yvrhousing | 15 September 2018 at 8:12 am | Reply

      For all we know they made their first flip in 1998 and are sitting on a crazy high acb

      • El Ninja | 15 September 2018 at 10:12 am |

        Why make excuses for these reckless speculators? Maybe they did, maybe they didn’t. Doesn’t matter. They got burned here.

      • Yvrhousing | 15 September 2018 at 6:35 pm |

        If they have a lower acb there isn’t much burning. I sometimes have to duck out of bad trades too but overall the balance sheet is what matters not a specific investment

    • El Ninja | 16 September 2018 at 8:26 am | Reply

      If trading stocks is a bad idea, which for most people it is, trading houses is even stupider. The relative illiquidity and transaction costs assure this. Only in a steeply rising market are these costs adequately compensated. And real estate markets don’t tend to rise steeply frequently.

      Meantime, treating houses like chips on a casino table produces costly externalities. So, not only is it financially dumb, it is damaging to the local community.

      • Yvrhousing | 16 September 2018 at 11:38 am |

        Sure, but that doesn’t mean one specific out of he money trade means the seller learned a hard lesson he will not soon forget.

  5. El Ninja | 15 September 2018 at 10:43 am | Reply

    • white_angelo_join_tarzan | 15 September 2018 at 12:07 pm | Reply

      https://tinyurl.com/yackl8s8 … omg … rant alert … what the dorkons (msm-hollywood-progressives) are so slow to uptake is that their hypocrisy has been fully revealed … (thank you)^10^100 djt … ppl aren’t that stupid, or if they are they’re soon removed … the more insistent the idiots become the more they discredit themselves … why do they keep doing this? … libs don’t care if stuff works, only if it sounds good … they’re all great talkers and love the sound of their own idiocy … cons don’t care what it looks or sounds like, only if it works … i take conservative hell over liberal hell anytime … please-please-please send the great flood to wash the earth of all the morons … we could really use it

  6. Yvrhousing | 16 September 2018 at 9:20 pm | Reply

    Given the upcoming civic election I decided to look back to the 2011 posts where VREAA contacted Vancouver council candidates and asked them five questions relating to housing policy https://vreaa.wordpress.com/2011/10/24/policies-on-housing-the-positions-of-local-entities-on-the-challenges-facing-vancouver-housing/

  7. El Ninja | 17 September 2018 at 7:11 am | Reply

    Canada has gotten played:

  8. Sebastien (-80% bear) | 17 September 2018 at 11:11 am | Reply

    Burned Flipper of the day:

  9. Sebastien (-80% bear) | 17 September 2018 at 2:10 pm | Reply

    Who are going to vote for next month?

    Here’s my choice:
    For Mayor: ProVancouver
    For Council : COPE (3 candidates) then ProVancouver (3 Candidates) then Greens (Carr + 2 others) then Spike Peachey.

    Do you know a more bearish combination than this one?

  10. El Ninja | 20 September 2018 at 8:59 am | Reply

    Sell now.

  11. El Ninja | 21 September 2018 at 1:53 pm | Reply

    In this informative interview, Phil “I Smoke Huge Bongs” Doper, CEO of Royal DisGrace, assures us that “we’ve had one of those magical soft landings”.

    Got it, folks? It’s all behind us. Smooth sailing here on out. Phew.

    Dunno about you, but I’m ready to get my real estate mojo on!

    https://business.financialpost.com/real-estate/canadas-housing-market-has-achieved-the-magical-soft-landing-royal-lepage?utm_medium=Social&utm_source=Twitter#Echobox=1537546946

    • white_angelo_join_tarzan | 21 September 2018 at 2:11 pm | Reply

      for kix … compare phil discussing dead cat bounce (3:15) to this … https://tinyurl.com/y7fwzz2f … lolz

    • El Ninja | 22 September 2018 at 11:17 am | Reply

      Doper’s use of the word “magical” is telling; he knows there’s no such thing as a soft landing. But it fits with Canadians’ belief that “it’s different here”.

      I also love how realtors (or, as I prefer to call them, used house salesmen) have now been rebranded as “advisors”. This new title elevates and ennobles their role in the mind of the gullible consumer to that of consigliere, instead of the greedy, unstudied fee vultures that so many are. This industry’s linguistic gymnastics never cease to amaze.

    • Canis | 22 September 2018 at 1:39 pm | Reply

      “It’s no big deal; it’s just raw data. That’s why we’ve been fighting tooth and nail for years to keep it proprietary.”

  12. -80% bear | 24 September 2018 at 1:22 am | Reply

    Flipper burn of the week:

    4710 Willow Place, West Vancouver
    Apr 9:$2,998,000
    Sep 17: $1,999,000
    Change: – 999000.00 -33%
    A: $2,578,000 (sold Aug 2015 for 2.1 mil$)

  13. Arnie Carnegie | 24 September 2018 at 1:51 pm | Reply

    2711 Point Grey Road: bought as a scraper in 1993 for $1.525M. New-build in 1994.
    For sale 24 years later. Listed under assessed @ $15.8M.
    There’s a story here. It would be interesting to know who owned and why they are selling; and who buys.

  14. Arnie Carnegie | 24 September 2018 at 2:02 pm | Reply

    2707 Point Grey also for sale – side by side – also a new-build in 1994. This one is over assesed – doubtless because it flanks green space. Listed at $19.980M. You’d think that in this price range they would have rounded the number off to 20 million.

  15. Arnie Carnegie | 24 September 2018 at 2:10 pm | Reply

    1243 Chartwell Place: bought in 1979 for $640K. Listed at $39.9M. Assessed at just $12.458M.

  16. Arnie Carnegie | 24 September 2018 at 2:16 pm | Reply

    5340 Seaside Place: brutalist modern; heated roads; freehold plus strata common. $22.88M. Yowza.

  17. El Ninja | 25 September 2018 at 2:28 pm | Reply

    Haircut? More like scalping.

  18. Arnie Carnegie | 25 September 2018 at 5:43 pm | Reply

    My take on the Point Grey properties is that 2707, next to a park, owned their place forever and picked up 2711 for a bargain price – scraped both and did two new-builds. The interesting bit is that there is a third property, not for sale, flush with Piggot Park – assessed at over $30M. As a land assembly it could be a play similar to Porno Pants Chip Wilson’s four lot assembly down the road – which cost him $40M several years ago.
    From “the Golden Mile” to “Billionaire Beach”.

  19. Seeking Knowledge | 26 September 2018 at 5:03 pm | Reply

    This sure smells like the dot com era during 2000:
    https://imbyx.com/

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