Analyst who exposed Vancouver's real estate disaster
1–10 of 46 posts
Re: Analyst who exposed Vancouver's real estate disaster
#2This was not a surprise exposure to anyone. Vancouver is a peculiar place, where mobsters haul around duffel bags full of cash and various authorities pretend everything is fine.
Lately gossip has mostly focused on the motivations of the various auditors and authorities, who refuse to do their jobs. Leading theories include fear of racism accusations, corruption, laziness, and of course gross incompetence.
Re: Analyst who exposed Vancouver's real estate disaster
#3The mess has spread from Vancouver to Toronto and is now hitting Montreal hard as well.
Article is from February 2018.
Re: Analyst who exposed Vancouver's real estate disaster
#4It is frustrating as there are straightforward, cost-effective approaches the government could take to better understand the problem and they have chosen not to pursue in an expedited fashion either because of lack of effort or an active desire to stay ignorant (due to upcoming election, impact on big donors, etc...). Instead they just keep telling Canadians they will "allocate funds to better research the issue", i.e. kick the can.
For example, a simple, 80/20 analysis they could perform: list at all real estate held by holding companies in GVA and GTA and generate a list of their corporate directors. Find people who are directors on a large number of those holding companies, and check if they are related somehow to law firms, banks/wealth managers, Real estate agents or immigration businesses. If so, you now have a short list of potential properties being used for money laundering that maybe merit further investigation.
Calling the top 25 people on that list should reveal some interesting findings... Re-organize by property value if you want to catch bigger fish first.
Re: Analyst who exposed Vancouver's real estate disaster
#5The mess has spread from Vancouver to Toronto and is now hitting Montreal hard as well. Article is from February 2018.
its been getting CRAZY in toronto the past couple years
https://globalnews.ca/video/5091538/ontario-police-search-fo... just the past week
international students/people have been involved in some very frightening crimes, this sort of stuff rarely happens much less to students.. i mean its toronto/golden horseshoe for the most part its very safe
??? uhhh why am i getting downvoted?
Re: Analyst who exposed Vancouver's real estate disaster
#6(2018) - this does not provide a complete picture of the current state of the market.
Re: Analyst who exposed Vancouver's real estate disaster
#7> Yan says there may be some solution—a mix of remedies, new laws, purpose-built rental housing, tax adjustments and so on—that does not mean a collapse in Metro Vancouver’s real estate prices.
There never will be a solution because no one will vote for a government that will bring down the value of their home.
Re: Analyst who exposed Vancouver's real estate disaster
#8The mess has spread from Vancouver to Toronto and is now hitting Montreal hard as well. Article is from February 2018.
You can now buy a private island in the Bahamas for about the same price as a 2 bedroom condo in the Toronto core and housing prices here just keep going up.
Re: Analyst who exposed Vancouver's real estate disaster
#9I wish they just did not sell to foreign investors. And yes I would be fine if other countries did the same, why do I need to own a place in 'x' country? This is, again, capitalism at the expense of the people who actually live in the region. I am not against immigration and owning property but a person or organization who are simply buying up property just to make a profit and have no intention of ever living there should be stopped. Or at the least heavily taxed to discourage the practice.
Re: Analyst who exposed Vancouver's real estate disaster
#10> Yan says there may be some solution—a mix of remedies, new laws, purpose-built rental housing, tax adjustments and so on—that does not mean a collapse in Metro Vancouver’s real estate prices. There never will be a solution because no one will vote for a government that will bring down the value of their home.
Well, unless you exclude most voters from home ownership...