Possible Real Estate Investment Opportunity in Vancouver BC due to Tax Challenge
11-15-2018, 09:36 PM
I own property in Vancouver.
There are some places I have been eyeing for some years now, waiting to see if the correction comes and then grabbing one. The NDP socialists are taxing anything that moves, so smart money is sitting this out waiting to see how bad they fuck up so we can get back to business. Unfortunately here, its the perfect storm of stupidity (Federal, Provincial, Municipal governments are all turbo left socialists) so a lot of the wealth and investment here is sitting idle or going to Washington (Bellevue).
I know this won't last as a city of 3 million has too much energy for socialism to really take hold. The Chinese and Indian communities especially have been making WAY too much money to see the retarded leaders kill the gravy.
Regarding empty condos, its a myth. We have less empty homes here than NY based on pop. We are slightly higher than Berlin, which is often used by socialists on how to build housing markets. Towers are often fully glassed and finished while the interiors are still steel studs. Once they are move in ready, they are certainly not dark any longer. Coal Harbor started the whole myth, but all those towers went up at the same time so it did feel like it was dead.
Its an interesting time right now though. I was having coffee with a prominent development CEO and he is sweating a bit. Vancouver has the longest permitting process in the world and the carrying costs plus design process takes YEARS and the city doesn't care. The last government used developers as their own personal bank account to fund stupid shit like slapped on bike paths with no real urban design and proper integration. Its a mess. Developers are also used by the government to be on the hook for most of the social housing in Vancouver. Which in Vancouver means prime real estate, often near the water, and in the most expensive locations (outside of where the politicians live, of course).
Vancouver is a great example of how to get rich in real estate, and any socialist government needs to show their hate filled voters just how much they too hate money (they don't) so they say they will kill real estate and tax the Chinese. But the reality is most of the buyers in Vancouver are locals climbing the property ladder. So all the foreigner tax shit is blowing up in their face and the locals are still moving properties, but at a less pace then a few months ago.
Our current Dear Leader was a union bus driver (sound familiar?) who thinks he can be the first man in the world to puppeteer a housing correction.
There are some places I have been eyeing for some years now, waiting to see if the correction comes and then grabbing one. The NDP socialists are taxing anything that moves, so smart money is sitting this out waiting to see how bad they fuck up so we can get back to business. Unfortunately here, its the perfect storm of stupidity (Federal, Provincial, Municipal governments are all turbo left socialists) so a lot of the wealth and investment here is sitting idle or going to Washington (Bellevue).
I know this won't last as a city of 3 million has too much energy for socialism to really take hold. The Chinese and Indian communities especially have been making WAY too much money to see the retarded leaders kill the gravy.
Regarding empty condos, its a myth. We have less empty homes here than NY based on pop. We are slightly higher than Berlin, which is often used by socialists on how to build housing markets. Towers are often fully glassed and finished while the interiors are still steel studs. Once they are move in ready, they are certainly not dark any longer. Coal Harbor started the whole myth, but all those towers went up at the same time so it did feel like it was dead.
Its an interesting time right now though. I was having coffee with a prominent development CEO and he is sweating a bit. Vancouver has the longest permitting process in the world and the carrying costs plus design process takes YEARS and the city doesn't care. The last government used developers as their own personal bank account to fund stupid shit like slapped on bike paths with no real urban design and proper integration. Its a mess. Developers are also used by the government to be on the hook for most of the social housing in Vancouver. Which in Vancouver means prime real estate, often near the water, and in the most expensive locations (outside of where the politicians live, of course).
Vancouver is a great example of how to get rich in real estate, and any socialist government needs to show their hate filled voters just how much they too hate money (they don't) so they say they will kill real estate and tax the Chinese. But the reality is most of the buyers in Vancouver are locals climbing the property ladder. So all the foreigner tax shit is blowing up in their face and the locals are still moving properties, but at a less pace then a few months ago.
Our current Dear Leader was a union bus driver (sound familiar?) who thinks he can be the first man in the world to puppeteer a housing correction.