Canada Housing/Debt: Trust me, I'm a landlord.

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

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quaint bucket: Nov 29, 2007

jfood posted:

'N' sticker goes on the car, not the plate.

There's probably an 'L' just out of frame to the right.

Wow, how soon we all forget that anything can be bought.

# ? Jul 16, 2016 21:28

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# ? May 23, 2024 05:48

namaste friends: Sep 18, 2004; by Smythe

http://www.wsj.com/articles/as-rates-sink-housing-bubbles-rise-1468758085

quote:

As Rates Sink, Housing Bubbles Rise
Canada, Australia and Sweden are among central banks caught between supporting their economies and addressing financial threats

OTTAWA�Low interest rates around the world are fueling a familiar threat of housing bubbles, and central bankers in a number of key economies feel powerless to stop them.

The problem is being acutely felt in Canada, where home prices are soaring even as the country�s energy- and mining-dependent economy slows. Sweden and Australia are dealing with similar surges in the value of homes, leading officials in all three countries to worry about the risk of a destabilizing bust.

In Canada�s hottest market, Vancouver, British Columbia, the benchmark home price rose by a stunning 32% over the 12 months ended in June, with a �typical� detached home now costing 1.56 million Canadian dollars (US$1.2 million), according to a Canadian Real Estate Association index. In Toronto, home prices were up 16% during the same period.

Those price gains in two of the country�s biggest cities are likely unsustainable, the Bank of Canada warned in June. Yet even as Bank of Canada Gov. Stephen Poloz worries about a potential bust, he said in an interview earlier this week that rising home prices wouldn�t prevent him from driving rates even lower if he believed that was needed to stimulate the economy.

But Mr. Poloz, whose bank has cut interest rates twice since January 2015, also acknowledged that Canada�s current ultralow rate environment is �absolutely� helping to fuel rising house prices and household debt.

�The risks are clearly rising,� Mr. Poloz said, when asked if Vancouver�s and Toronto�s housing markets are in a bubble. �I just don�t know how big the risks are.�

Mr. Poloz is among the central bankers who are increasingly caught between supporting their economies and addressing financial threats.

Their dilemma gets at a key question in central banking: Should monetary-policy makers stick to their primary goal of controlling inflation, or do they also need to use their powers to stop emerging asset bubbles before they get too big? There is little agreement on the point even after the U.S. housing crisis showed the consequences of leaving markets to deal with such problems themselves.

�This is a kind of a shared issue,� Mr. Poloz said of the risk of housing bubbles. �Low interest rates is something we all have in common, and that�s going to cause these things to happen.�

Housing bubbles can do economic damage by pulling investment into a relatively unproductive sector of the economy and piling up debt that can quickly go bad when prices deflate.

The Reserve Bank of Australia warned in June that housing prices had begun to rise again after a May rate cut. Housing in Sydney, Australia�s largest city, is already among the least affordable in the world, and the Organization for Economic Cooperation and Development ranks Australia�s household debt among the highest for developed countries.

Yet the central bank held its interest rate steady at its policy meeting on July 5 and signaled in a statement that it may need to cut rates in the future. One reason is that inflation is running below RBA�s desired target, a predicament shared by its counterparts in the U.S., Europe and Japan.

Australia�s bank regulator has tried to address the risks of a bubble by implementing tougher guidelines for lending to property investors in the past year, which helped cool the growth in prices.

Still, the OECD warned last month that Australia may be nearing a �dramatic and destabilizing� end to its housing boom.

In Sweden, rapidly rising house prices, fueled in part by 17 months of negative interest rates, also are generating concerns about the risk of a correction. Stockholm has become one of Europe�s hottest property markets, one where prices rose 14% last year. The country has introduced measures aimed at limiting risky borrowing, but they haven�t fully offset the lift from record-low interest rates.

Sweden�s Riksbank said July 6 that its original plan to start raising interest rates by the middle of next year would likely be postponed, after the U.K. vote to leave the European Union raised uncertainty about the outlook for global growth.

�When policy rates globally are very low,� Riksbank Gov. Stefan Ingves said in an interview, �it�s not in the cards for us to embark on a path which is radically different.��

Mr. Poloz took over running the Bank of Canada in 2013, when predecessor Mark Carney moved to the Bank of England. Canada�s central bank held its key interest rate at 0.5% Wednesday, as it downgraded its economic-growth forecast in response to a weaker investment outlook and sluggish exports.

�The central bank is only doing their job, which is to try to keep inflation on target,� Mr. Poloz said in the interview. Weak growth since the financial crisis, he said, �has kept central banks in the game much longer than anyone would have expected.�

The central banker said rates are a blunt instrument that would require triggering a recession to slow down the housing market. Instead, he said, policy makers need to be responsible.

Canada has tightened housing-financing rules five times since mid-2008 to curb excesses. Earlier this month, the country�s main bank regulator issued a letter to banks calling on them to ensure adequate internal controls on mortgage underwriting, including properly verifying borrowers� incomes.

Still, some economists suspect Mr. Poloz might consider cutting rates further were it not for the concern about housing.

�They�re really stuck between a rock and a hard place,� Bank of Nova Scotia economist Derek Holt said before Wednesday�s rate decision.

Mr. Poloz disputes that housing concerns are preventing more cuts. He said his goal is to make sure the economy stays on a good growth track. The problem isn�t rate cuts, he said, but their yearslong duration.

�Normally, it doesn�t last long. You know, you might have a year or something while interest rates are lower than normal,� Mr. Poloz said. ��It�s only when they last a long time that they begin to accumulate into something that is of concern.�

or maybe, you know, the government does something

# ? Jul 18, 2016 03:52

Coolwhoami: Sep 13, 2007

http://bc.ctvnews.ca/more-than-5-000-airbnb-style-rentals-listed-in-vancouver-study-finds-1.2990548

quote:

More than 5,000 AirBnb-style rentals listed in Vancouver, study finds

The City of Vancouver is seeking public input on how it should regulate short-term rentals within its jurisdiction.

On Sunday, the city announced that it will conduct a public opinion survey to assess the pros and cons of short-term rentals such as those available through the web service AirBnb, as well as solicit feedback on what sort of rules should govern such services.

The survey will go live on Wednesday, and was announced alongside a third-party analysis of short-term rentals in Vancouver, commissioned by the city.

The analysis found more than 5,000 short-term rentals in the city, some 85 per cent of which are listed through AirBnb. The rest are listed through other services, including Homeaway and Flipkey.

Fully three-quarters of short-term rentals are entire homes, condos, or apartments that could otherwise provide housing for long-term residents of the city.

Some 31 per cent of the short-term rentals available in Vancouver are downtown. Other neighbourhoods with a large number of such rentals include Mount Pleasant/Renfrew (15 per cent), Kitsilano/Point Grey (14 per cent), and East Hastings (14 per cent).
Vancouver�s rental vacancy rate has been below 1 per cent for several years. At 0.6 per cent, it is one of the lowest in Canada.

The city says it sees the value short-term rentals can provide to residents and visitors, but is concerned about the effect short-term rentals could have on the affordability and availability of long-term rental properties.

The survey on short-term rentals will be available at vancouver.ca/short-term-rentals starting July 20.

The total rental inventory in Vancouver is 136,130 (source, p76), making the immediate impact of this seem small. However: 5224 purpose built rental units were constructed from 2012-2015 (and were widely touted as being a positive for rental affordability). This merely maintained the existing supply of purpose rentals as the total number (56,190) has remained pretty much flat over the last decade. Meanwhile the number of rented condo units is increasing (24,213) and are almost always more expensive than purpose rentals for equivalent sizes/locations. A small (and I imagine, increasing) number of short term rentals can put a lot of pressure on the market, especially if these are condos that are taking up rental slots (lovely as renting condos is).

# ? Jul 18, 2016 04:40

Furnaceface: Oct 21, 2004

namaste faggots posted:

http://www.wsj.com/articles/as-rates-sink-housing-bubbles-rise-1468758085

or maybe, you know, the government does something

The Liberals are not going to touch the housing market. It would be political suicide and ruin them for decades by putting the largest group of voters, boomers, into a very lovely (though deserved) situation.

# ? Jul 18, 2016 05:23

namaste friends: Sep 18, 2004; by Smythe

so we'll just sacrifice everyone instead

# ? Jul 18, 2016 05:32

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

Everything else in our society is going to be sacrificed first to protect home equity, especially with a government entity holding the bag on a gigantic pile of mortgages.

It's not going to work but they'll try.

# ? Jul 18, 2016 05:34

DariusLikewise: Oct 4, 2008; You wore that on Halloween?

UnfortunateSexFart posted:

People were always saying "are you loving kidding me." It's never been locals buying for $4+ million regardless of what the government/SJWs say.

Ah yes, it's those drat SJWs again

# ? Jul 18, 2016 05:41

Furnaceface: Oct 21, 2004

namaste faggots posted:

so we'll just sacrifice everyone instead

Both federal and provincial governments have already done this. Most people just havnt noticed it yet.

# ? Jul 18, 2016 06:17

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

DariusLikewise posted:

Ah yes, it's those drat SJWs again

Canadians would rather lose their ability to live in their home city than be accused of racism, so yes, it has been a problem.

# ? Jul 18, 2016 09:28

Juul-Whip: Mar 10, 2008

I, too, wish racism was more acceptable in our country. This housing bubble would be history!

# ? Jul 18, 2016 09:57

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

It's not racism, it's the unfair accusation that has caused us to not do anything to prevent disaster.

If anything the racism comes from assuming that those nice little orientals couldn't possibly be playing us.

# ? Jul 18, 2016 16:35

Femtosecond: Aug 2, 2003

Coolwhoami posted:

http://bc.ctvnews.ca/more-than-5-000-airbnb-style-rentals-listed-in-vancouver-study-finds-1.2990548
A small (and I imagine, increasing) number of short term rentals can put a lot of pressure on the market, especially if these are condos that are taking up rental slots (lovely as renting condos is).

quote:

Fully three-quarters of short-term rentals are entire homes, condos, or apartments that could otherwise provide housing for long-term residents of the city.

The article (and from the way they talk about it, many councillors) assumes that 100% of these "entire home" Airbnb rentals are necessarily taking away space from long term rental but I think a pretty big leap. I've rented several "entire home" Airbnbs that wouldn't really be reasonable to rent for as a long term apartment. For example I've stayed in what was essentially a very nice shed that only had a bed and bathroom and no room for anything else. There's probably a lot of "basement suites" that are not fully featured and are only marginally good for actually renting out in the long term.

I would assume that almost the entirety of downtown is renting out a whole condo, so that's 31% * 5000 = ~1500 long term rental there. I suspect for other places like Kits and Mount Pleasant, where you'd be factoring in basement suites, you can't as strongly assume the Airbnb units would be rented out in any way otherwise.

# ? Jul 18, 2016 17:24

DariusLikewise: Oct 4, 2008; You wore that on Halloween?

UnfortunateSexFart posted:

Canadians would rather lose their ability to live in their home city than be accused of racism, so yes, it has been a problem.

MAKE VANCOUVER GREAT AGAIN!

# ? Jul 18, 2016 17:29

namaste friends: Sep 18, 2004; by Smythe

https://betterdwelling.com/city/vancouver/chinese-media-now-warning-canadas-housing-crash-will-worse-us/

quote:

Chinese Media Is Now Warning Canada�s Housing Crash Will Be Worse Than The US

Shots fired! While our media has been pointing out how Chinese buyers are driving up real estate prices, the Chinese media has been dissecting our economy, government, and warning Chinese buyers of the dangers of owning Canadian real estate.

We�re always curious to know how other countries interpret our statistics, political climate and what outside media is reporting about Canada�s economy. Since China has been a hot button subject in Canadian news recently, we thought it was high time we took a look at how Canada is portrayed in China�s State regulated media. While the Chinese media does acknowledge that Chinese buyers are a contributing factor to our prices � and admit they have been capitalizing on it � they also point out some interesting observations that our media has failed to cover. Here are the most interesting points we found from three major Chinese publications.

Worse Than The 2008 US Crash
Hexun, China�s largest finance portal, recently published an article pointing to Canada�s debt fueled economy. They noted that Canadians have the largest debt-to-income ratio of any G7 country, with the average spending 165% of their salary. To contrast, at the height of the US housing crisis in 2008, Americans carried what was then considered an outlandish 147% debt-to-income ratio � 17 points lower than where we currently sit. Canada�s total household debt reached $1.892 trillion dollars, with $1.234 trillion dollars of that as mortgage debt � roughly 65% more than we make per year. To put that 1.82 trillion dollars into perspective, we could have run the US government for 8 months with that amount of money.

�This is a very big bubble. And it�s going to end in tears.�
�Paul Ashworth

CN Gold, another one of China�s large financial sites, ran an article quoting Toronto-based economist Paul Ashworth who told them �This is a very big bubble. And it�s going to end in tears.� They then went on to say that once this bubble bursts, real estate will likely be a major �blow to the Canadian economy�.

Real Estate As An Economy Booster
Sina.com�s real estate partner, and NYSE listed Leju was quick to point out that while the average home price in Vancouver is up more than 30%, the province is in a state of �stagflation.� Stagflation is a fancy word that describes when the cost of living increases but there is stagnant demand in the economy. They go on to say BC has one of the lowest median incomes in the country, and the BC government is hoping rising home prices will �render some good�.

While they didn�t put statistics to those statements, we recently published an article that showed Vancouver�s home prices have risen 172% in the last 15 years, while income has only moved up 10%. The struggle in VanCity is real.

BC Government Saved This For The Election
Most interesting, Chinese media outlets are questioning the timing of all of this. Afterall, Vancouver�s real estate has been growing at an unsustainable rate for years (more like decades), while incomes have stagnated. An author from Leju wrote that the Asian investment conversation is being brought on as platforms for the Vancouver municipal and BC provincial elections.

Leju also explained that other cities like Toronto, that have substantially more international buyers, are not having discussions about �vacancy taxes� and �restrictions�. They further allege that the government in Vancouver and BC are looking to distract constituents with �other factors� to explain why income in the province is one of the lowest in Canada.

�this crisis threatens the stability of [the Canadian] financial system.�
Hexun was a little more blunt, stating the Government of Canada �must introduce policies to cool the property market, or face collapse�. Further adding that �this crisis threatens the stability of [the Canadian] financial system.�

While you should approach all media with a grain of salt, they bring interesting points to the table that should be part of the discussion. In Vancouver�s market where mayor Greg Robertson made almost four times his annual salary selling a home he lived in for only 2 years, and BC Finance Minister Mike de Jong has a stake in 7 homes (only 5 mortgages though), are Chinese speculators the problem or are all speculators contributing to the problem? Also, as Canadians we tend to not discuss things like declining income, which is unfortunate because it�s a big part of our housing story.

Let�s Have An Honest Discussion About Real Estate

At Better Dwelling we�re exploring the issues around Canadian housing from all sides. Like this post? Like us on Facebook to get notified when the next one goes live.

loool

# ? Jul 18, 2016 17:30

Majuju: Dec 30, 2006; I had a beer with Stephen Miller once and now I like him.

Femtosecond posted:

I would assume that almost the entirety of downtown is renting out a whole condo, so that's 31% * 5000 = ~1500 long term rental there. I suspect for other places like Kits and Mount Pleasant, where you'd be factoring in basement suites, you can't as strongly assume the Airbnb units would be rented out in any way otherwise.

Sure, but those 1500 units would almost double the number of available rentals in Vancouver presently. Like, even if you have 40% of the 5k number that was instead plain long-term market rental, you'd double the Vancouver rental vacancies.

# ? Jul 18, 2016 17:30

Femtosecond: Aug 2, 2003

Majuju posted:

Sure, but those 1500 units would almost double the number of available rentals in Vancouver presently. Like, even if you have 40% of the 5k number that was instead plain long-term market rental, you'd double the Vancouver rental vacancies.

You're totally right that considering Vancouver's situation of sub 1% vacancy any addition of units is a big victory. I am just a bit irked that every Airbnb estimate I see seems to be one that I would classify as a super optimistic scenario, likely over estimating the impact of Airbnb. Maybe there's no harm in this. After all the city is aggressively trying to build more purpose built rental as well.

Tourism is super important to the local economy. I wonder if there is some degree of leakage of rental supply to Airbnb (500 units? 1000? More?) that council would be ok with? Or is council so set on increasing rental supply that they'll take the max possible amount of Airbnb units off the market without doing an economic assessment of this action first.

# ? Jul 18, 2016 18:13

JawKnee: Mar 24, 2007; You'll take the ride to leave this town along that yellow line

Femtosecond posted:

You're totally right that considering Vancouver's situation of sub 1% vacancy any addition of units is a big victory. I am just a bit irked that every Airbnb estimate I see seems to be one that I would classify as a super optimistic scenario, likely over estimating the impact of Airbnb. Maybe there's no harm in this. After all the city is aggressively trying to build more purpose built rental as well.

Tourism is super important to the local economy. I wonder if there is some degree of leakage of rental supply to Airbnb (500 units? 1000? More?) that council would be ok with? Or is council so set on increasing rental supply that they'll take the max possible amount of Airbnb units off the market without doing an economic assessment of this action first.

the lack of Airbnb would stop tourism? Or would even impact someone's decision to come here? That's kind of hard to swallow.

# ? Jul 18, 2016 18:25

ocrumsprug: Sep 23, 2010; by LITERALLY AN ADMIN

Tourism only started 8 years ago.

# ? Jul 18, 2016 19:13

Femtosecond: Aug 2, 2003

JawKnee posted:

the lack of Airbnb would stop tourism? Or would even impact someone's decision to come here? That's kind of hard to swallow.

Don't put words in my mouth.

Airbnb is a cheap way to travel, much cheaper than staying at a downtown hotel. Travelers using Airbnb can probably afford to stay in Vancouver longer and spend more than those that don't. There are real implications to limiting a lower income lodging option that should be studied.

There are lots of negatives to Airbnb and it should be regulated but I think there are a few positives that should be considered. The tone coming out of city hall from Vision is that Airbnb are villains so it'll be interesting to see how council approaches regulation.

# ? Jul 18, 2016 20:19

Coolwhoami: Sep 13, 2007

Femtosecond posted:

The article (and from the way they talk about it, many councillors) assumes that 100% of these "entire home" Airbnb rentals are necessarily taking away space from long term rental but I think a pretty big leap. I've rented several "entire home" Airbnbs that wouldn't really be reasonable to rent for as a long term apartment. For example I've stayed in what was essentially a very nice shed that only had a bed and bathroom and no room for anything else. There's probably a lot of "basement suites" that are not fully featured and are only marginally good for actually renting out in the long term.

I would assume that almost the entirety of downtown is renting out a whole condo, so that's 31% * 5000 = ~1500 long term rental there. I suspect for other places like Kits and Mount Pleasant, where you'd be factoring in basement suites, you can't as strongly assume the Airbnb units would be rented out in any way otherwise.

The part you quoted explicitly clarifies that 3/4 of the units are either a house, condo, or apartment, implying the remainder are suites. While I can acknowledge there are a number of units that are purpose built for short term rental (such as the one you stayed in), this doesn't change that there is a substantial impact on the overall availability of housing as a result, even if only a fraction of the units would be rented long term. This doesnt even touch whatever impact buying property to rent like this has on the real estate market, or what I can imagine is something similar to the impact uber is having on taxis (except in this case it is hotels and other regulated units that are impacted). It's fair to point out that an overly optimistic estimate is not useful here, but even pessimistically we can see how things might change.

Femtosecond posted:

Tourism is super important to the local economy. I wonder if there is some degree of leakage of rental supply to Airbnb (500 units? 1000? More?) that council would be ok with? Or is council so set on increasing rental supply that they'll take the max possible amount of Airbnb units off the market without doing an economic assessment of this action first.

My question would be whether we have lost, or have available, vacancies in other sorts of supply as a consequence of airbnb, rather than assuming that any regulatory action would be a net loss. Naturally any action will result in some period of turmoil, but that should not be cause to avoid touching it (because that's how we got here in the first place).

# ? Jul 18, 2016 20:29

Juul-Whip: Mar 10, 2008

If you can't afford to stay in a hotel then you probably aren't contributing enough to offset the impact on the rental housing market. Airbnb can gently caress right off for all I care.

Juul-Whip fucked around with this message at 20:42 on Jul 18, 2016

# ? Jul 18, 2016 20:35

namaste friends: Sep 18, 2004; by Smythe

If only there was some way to collect money from all these private citizens renting out their property as means of starting a small business.

:shrug:

# ? Jul 18, 2016 20:39

Rime: Nov 2, 2011; by Games Forum

It'd be cool if some affordable hostels could open up here to undercut the hotel market. Sadly there are no properties available to open one in, and regulations ensure that costs aren't significantly less than a hotel room.

# ? Jul 18, 2016 20:41

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

THC posted:

If you can't afford to stay in a hotel then you probably aren't contributing a whole lot, certainly not enough to offset the impact on the rental housing market. Airbnb can gently caress right off for all I care.

Yeah, there's no reason someone would prefer to stay in an AirBNB even though they can afford to stay in a hotel. :rolleyes:

Not to mention, even if someone wants to stay in an AirBNB for economic reasons alone, they'll be able to spend the savings at other businesses.

# ? Jul 18, 2016 20:42

Juul-Whip: Mar 10, 2008

namaste faggots posted:

If only there was some way to collect money from all these private citizens renting out their property as means of starting a small business.

They'd just use that money to offset tax cuts elsewhere and not fund affordable housing

# ? Jul 18, 2016 20:46

namaste friends: Sep 18, 2004; by Smythe

You say that like taxes have only one purpose

Idiot

# ? Jul 18, 2016 20:49

Juul-Whip: Mar 10, 2008

UnfortunateSexFart posted:

It's not racism, it's the unfair accusation that has caused us to not do anything to prevent disaster.

If anything the racism comes from assuming that those nice little orientals couldn't possibly be playing us.

No dumbass, it's because those in power and their supporters directly benefit from the housing bubble. It has nothing to do with "not wanting to be accused of racism" and everything to do with enriching land owners. And yes, you are racist and comments like "the orientals are playing us" are racist.

Juul-Whip fucked around with this message at 20:57 on Jul 18, 2016

# ? Jul 18, 2016 20:49

Coolwhoami: Sep 13, 2007

THC posted:

No dumbass, it's because those in power and their supporters directly benefit from the housing bubble. It has nothing to do with "not wanting to be accused of racism" and everything to do with enriching land owners. And yes, you are racist and comments like "the orientals are playing us" are racist.

Why can't it be both?

# ? Jul 18, 2016 20:55

Juul-Whip: Mar 10, 2008

Our rulers want capital flowing into the housing market, and they don't care where it comes from whether it's rich foreigners, or rich Canadians, or Canadians loaded up with cheap credit from Canadian banks. Whatever increases the value of their holdings. It also benefits a lot of older middle-class voters who bought their houses in the 80s and 90s. It also means big profits for construction, insurance, finance, etc companies.

The solution is to kick out our rulers, or force them to abandon this project - not make it OK to demonize Chinese people.

Juul-Whip fucked around with this message at 21:33 on Jul 18, 2016

# ? Jul 18, 2016 21:28

Postess with the Mostest: Apr 4, 2007; Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes

No, they definitely prefer rich foreigners.

# ? Jul 18, 2016 21:35

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

THC posted:

No dumbass, it's because those in power and their supporters directly benefit from the housing bubble. It has nothing to do with "not wanting to be accused of racism" and everything to do with enriching land owners. And yes, you are racist and comments like "the orientals are playing us" are racist.

The "playing us" comment was me impersonating people with views like yours, genius. I'll be sure to tell my Indian wife that I'm a white supremacist though, she'll get a kick out of that.

Who the gently caress stays in Vancouver if they're racist anyway? I refuse to move to the valley/Alberta because I hate the same racist rednecks that you do. I'm concerned about affordability and the economy. The fault still lies with our government for not fixing the housing crisis and tax laws - the only difference between you and I is I don't let the people taking advantage of our loopholes off the hook.

# ? Jul 18, 2016 22:50

Juul-Whip: Mar 10, 2008

Well then you're bad at impersonation and you don't understand my views as well as you think you do. Anti-racism is not an obstacle to solving the housing market.

# ? Jul 18, 2016 23:01

Reince Penis: Nov 15, 2007; by R. Guyovich

THC posted:

Well then you're bad at impersonation and you don't understand my views as well as you think you do. Anti-racism is not an obstacle to solving the housing market.

If only we were more racist, then Canadians wouldn't have record levels of debt!

# ? Jul 19, 2016 01:10

Throatwarbler: Nov 17, 2008; by vyelkin

JawKnee posted:

the lack of Airbnb would stop tourism? Or would even impact someone's decision to come here? That's kind of hard to swallow.

You are literally asking if the cost of having a roof over one's head will impact someone's decision to go to a place.

These are the people who live in Vancouver.

# ? Jul 19, 2016 01:25

JawKnee: Mar 24, 2007; You'll take the ride to leave this town along that yellow line

Throatwarbler posted:

You are literally asking if the cost of having a roof over one's head will impact someone's decision to go to a place.

These are the people who live in Vancouver.

Are you aware of the difference between a hotel and an AirBnB in Vancouver? From just a quick look $127 or so is the average per night for AirBnB. If you can't find a cheap hotel for that you're possibly an idiot, and if that breaks the bank, you're likely not a typical tourist.

# ? Jul 19, 2016 01:59

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

JawKnee posted:

Are you aware of the difference between a hotel and an AirBnB in Vancouver? From just a quick look $127 or so is the average per night for AirBnB. If you can't find a cheap hotel for that you're possibly an idiot, and if that breaks the bank, you're likely not a typical tourist.

What's the average hotel rate, if averages are being compared?

# ? Jul 19, 2016 02:03

JawKnee: Mar 24, 2007; You'll take the ride to leave this town along that yellow line

I'm having trouble finding anything for Vancouver specifically; I found something from the Hotel Association of Canada, but it lists averages for the whole country which isn't useful.

# ? Jul 19, 2016 02:10

Rime: Nov 2, 2011; by Games Forum

Subjunctive posted:

What's the average hotel rate, if averages are being compared?

$200-$500/night. Cheapest place downtown is the skeevy Ramada for $238/night on Priceline.

# ? Jul 19, 2016 02:11

namaste friends: Sep 18, 2004; by Smythe

What the gently caress. Hotels used to be dirt cheap in Vancouver because this loving city doesn't get any business travelers

# ? Jul 19, 2016 02:14

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# ? May 23, 2024 05:48

JawKnee: Mar 24, 2007; You'll take the ride to leave this town along that yellow line

Rime posted:

$200-$500/night. Cheapest place downtown is the skeevy Ramada for $238/night on Priceline.

if we're talking about the downtown core the average AirBnB price goes up to $390

# ? Jul 19, 2016 02:16

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

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