RowdyCanuck Posted April 13, 2020 Share Posted April 13, 2020 This what happens when tourism is one of the biggest earners and don't forget the ferry cost and so on, need people traveling to make money.... 1 Link to comment Share on other sites More sharing options...
bishopshodan Posted April 13, 2020 Share Posted April 13, 2020 9 minutes ago, CBH1926 said: City is so overpriced and overrated, I feel bad for all the young people trying to buy. I love that city. Yeah, it's over priced but so are a lot of the top cities. I only kinda feel bad for the young people. That's because I'm from an immigrant family that moved because my dad saw no future for his children where we were. 1 Link to comment Share on other sites More sharing options...
JM_ Posted April 13, 2020 Share Posted April 13, 2020 51 minutes ago, bishopshodan said: I suggested that because I dont know what the market is at for expensive land. That and if you want to try to force developers to build low income I would have thought they would need some sort of deal on the prices. I don't think we can be choosey right now about just low income. We need $ and need it now. But I can't see the NDP doing that. All they've managed to do so far is kill equity in the market and not provide anything for people trying to get into the market. Some nice things for very low income people, which is good, but nothing for regular folks or renters. I have zero confidence Stewart or Horgan will do what you suggest. Link to comment Share on other sites More sharing options...
CBH1926 Posted April 13, 2020 Share Posted April 13, 2020 16 minutes ago, bishopshodan said: I love that city. Yeah, it's over priced but so are a lot of the top cities. I only kinda feel bad for the young people. That's because I'm from an immigrant family that moved because my dad saw no future for his children where we were. Lot of other grossly overpriced places are economic hubs like N.Y, London, San Fran etc. Vancouver got overpriced by Chinese parking capital, besides low property tax very little economic benefit. 2 Link to comment Share on other sites More sharing options...
bishopshodan Posted April 13, 2020 Share Posted April 13, 2020 2 minutes ago, Jimmy McGill said: I don't think we can be choosey right now about just low income. We need $ and need it now. But I can't see the NDP doing that. All they've managed to do so far is kill equity in the market and not provide anything for people trying to get into the market. Some nice things for very low income people, which is good, but nothing for regular folks or renters. I have zero confidence Stewart or Horgan will do what you suggest. I know they won't. I just was spit balling and thinking that now is the time to use that equity to fix a few of their problems. Do they need 7.9 bil in assets? You're right, it's not just the low income renters that need a hand. If nothing more, maybe that can speed up the development permits and cut some costs to motivate the developers. Link to comment Share on other sites More sharing options...
JM_ Posted April 13, 2020 Share Posted April 13, 2020 2 minutes ago, bishopshodan said: I know they won't. I just was spit balling and thinking that now is the time to use that equity to fix a few of their problems. Do they need 7.9 bil in assets? You're right, it's not just the low income renters that need a hand. If nothing more, maybe that can speed up the development permits and cut some costs to motivate the developers. totally agree, but the NDP is philosophically against working with private developers like that. 1 Link to comment Share on other sites More sharing options...
Tre Mac Posted April 13, 2020 Share Posted April 13, 2020 Maybe White Rock can bail them out. Link to comment Share on other sites More sharing options...
bishopshodan Posted April 13, 2020 Share Posted April 13, 2020 1 minute ago, CBH1926 said: Lot of other grossly overpriced places are economic hubs like N.Y, London, San Fran etc. Vancouver got overpriced by Chinese parking capital, besides low property tax very little economic benefit. I never said Van was an economic hub and those cities are not located in Canada. So, I don't care about them I was invested in Vancouver real estate for 22 years. I made a lot of profit and would consider investing there again in the future. Link to comment Share on other sites More sharing options...
NewbieCanuckFan Posted April 13, 2020 Share Posted April 13, 2020 30 minutes ago, Jimmy McGill said: totally agree, but the NDP is philosophically against working with private developers like that. Hopefully we can find a medium between those guys and the greasy Campbell gang. Link to comment Share on other sites More sharing options...
coastal.view Posted April 13, 2020 Share Posted April 13, 2020 (edited) 4 hours ago, wildcam said: Every city will have the same issues.. Every country is going deeper in debt with Covid -19...Every country was in serious debt even before Covid 19.. False economy for over 20 years, they just keep printing money? Just keep safe and try and stay positive.. Talk about bright future of the Vancouver Canucks... not sure why this is as big a deal as being made out in my experience property tax debt is simply secured by charging the property and the city eventually does get paid making this a secured debt (have you ever been involved in a conveyance where property tax was not an adjustment issue?) so this is really a cash flow issue and taking steps to finance this flow solves insolvency issues what am i missing here? all businesses deal with these sorts of issues regularly and banks are easily on board when there are ebbs in cash flow particularly where the ebb portion in the flow is converted to secured debt Edited April 13, 2020 by coastal.view 1 Link to comment Share on other sites More sharing options...
Ronaldoescobar Posted April 13, 2020 Share Posted April 13, 2020 I think there is more than a few that would celebrate Vancouver going bankrupt. Link to comment Share on other sites More sharing options...
CBH1926 Posted April 13, 2020 Share Posted April 13, 2020 2 hours ago, bishopshodan said: I never said Van was an economic hub and those cities are not located in Canada. So, I don't care about them I was invested in Vancouver real estate for 22 years. I made a lot of profit and would consider investing there again in the future. You said other “top cities” are over priced, what other top cities you had in mind? Link to comment Share on other sites More sharing options...
Ronaldoescobar Posted April 13, 2020 Share Posted April 13, 2020 3 hours ago, bishopshodan said: I never said Van was an economic hub and those cities are not located in Canada. So, I don't care about them I was invested in Vancouver real estate for 22 years. I made a lot of profit and would consider investing there again in the future. Vancouver does have the busiest port in Canada and one of the busiest in all of North America. 1 Link to comment Share on other sites More sharing options...
JM_ Posted April 13, 2020 Share Posted April 13, 2020 2 hours ago, 6of1_halfdozenofother said: The NDP might be, but the current mayor strikes me as somewhat more pragmatic than that. His hand may also be forced by the situation, and he may need to set dogma aside to protect the interests of his city and its citizens. I thought that at first as well, but he's done next to nothing on market housing since he took office. Link to comment Share on other sites More sharing options...
JM_ Posted April 13, 2020 Share Posted April 13, 2020 3 hours ago, NewbieCanuckFan said: Hopefully we can find a medium between those guys and the greasy Campbell gang. not in BC Link to comment Share on other sites More sharing options...
Gaudette Celly Posted April 13, 2020 Share Posted April 13, 2020 12 hours ago, Crabcakes said: All levels of govt are going to feel the pinch. The difference is that municipalities are not permitted to run deficits like Federal or Provincial. They can't raise funds by issuing bonds etc. Higher levels of govt will bail out the cities. They're lying, all of them. Technically yes, their operating budgets can go into deficit but they will NEVER tell you about the CAFRs -- Comprehensive Annual Financial Reports. These are all the "off-books" accounts that every government maintains, and the amount they generate exceeds the tax dollars they collect. They are not easy to acquire, but when you do you'll see how much money governments really have. Link to comment Share on other sites More sharing options...
bishopshodan Posted April 13, 2020 Share Posted April 13, 2020 (edited) 2 hours ago, CBH1926 said: You said other “top cities” are over priced, what other top cities you had in mind? I dunno Toronto and London I suppose as I am familiar with those two being a Brit/Can dual. And really I was just agreeing with you cause everyone moans about Vancouver being expensive. IMO it's worth it. I love it that much and wouldn't live anywhere else but Canada. I don't want to do the bash Vancouver game with you. Please find another dance partner if that's your gig. Edited April 13, 2020 by bishopshodan Link to comment Share on other sites More sharing options...
bishopshodan Posted April 13, 2020 Share Posted April 13, 2020 1 hour ago, Ronaldoescobar said: Vancouver does have the busiest port in Canada and one of the busiest in all of North America. I know. When I think of the ports the only thing that ticks me off is the low rate of inspections on the millions of containers that come in. Same thing at the Delta port..I think it is down around the 1% range. Is it any wonder that there are massive drug problems in the DTES? 2 1 Link to comment Share on other sites More sharing options...
CBH1926 Posted April 13, 2020 Share Posted April 13, 2020 45 minutes ago, bishopshodan said: I dunno Toronto and London I suppose as I am familiar with those two being a Brit/Can dual. And really I was just agreeing with you cause everyone moans about Vancouver being expensive. IMO it's worth it. I love it that much and wouldn't live anywhere else but Canada. I don't want to do the bash Vancouver game with you. Please find another dance partner if that's your gig. I don’t know if it’s bash game or disagreeing that lack of affordability is somehow justified by perceived overall city quality. Regardless, point taken. 1 Link to comment Share on other sites More sharing options...
Violator Posted April 13, 2020 Share Posted April 13, 2020 This is what happens when your only industry is real estate and drugs. 1 Link to comment Share on other sites More sharing options...
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