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Jun 13, 2024 04:58
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- namaste friends
- Sep 18, 2004
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by Smythe
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None of this was his fault though so how could it void his policy
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Jan 26, 2017 21:12
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- dev286
- Nov 30, 2006
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Let it be all the best.
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This kinda hits home for me. My parents bought their second house in 88, right as the market and interest rates peaked. My dad was a lawyer working at a very small firm (think 3 lawyers) and hated hated hated it. When the crash came he had to take a second lawyer job on the side. This while my mom busted her rear end as an RN for peanuts with no pension or medical/dental.
Even with their incomes money was tight because the mortgage needed to be fed, and the house's value had dropped.
I remember Toronto during the recession of the 90s, it was a loving bleak place. Penthouse condos on the waterfront were being auctioned off to the highest bidder.
Then my dad died suddenly of cancer at 47.
Only then was it revealed the extent of his personal and corporate debt, his tax owing, lines of credit, everything. My mom had no idea.
His life insurance paid for the remainder of the mortgage and settled his debts.
My mom still lives in that house and insists it's her retirement nest egg. The only reason she still lives there and it wasn't repossessed was because my dad died. poo poo would have hit the fan if he had kept on living and they would have had no money for retirement, no savings and nothing to support me and my brothers.
So when I look at the market now, and how overextended everyone is, how desperate people are to get in, buy high at whatever cost and forego quality of life to drive 4 hours a day in traffic - I say gently caress that. I'm not playing that game right now. I would rather be solvent and secure and able to withstand a job loss or recession. Or be able to afford other things like travel or entertainment.
However - despite all this, despite the signs of the bubble, I still want a house. I still want to eventually have a place of my own, no matter how dumb that may be.
I just think I'll sit on the sidelines for a minute.
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Jan 26, 2017 21:36
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- namaste friends
- Sep 18, 2004
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by Smythe
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But if the market goes down I can stomach the loss of hundreds of thousands of dollars because a house is not an investment it's a place to live
- literally every housing equity accumulator
namaste friends fucked around with this message at 21:48 on Jan 26, 2017
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Jan 26, 2017 21:39
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- Throatwarbler
- Nov 17, 2008
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by vyelkin
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I'm not saying that he could have been forgiven for that or if his marriage would have lasted--when they were having their first kid, he went off with a sex worker one time. What I am saying is that it is possible for him to attempt to redeem himself but instead he just ran off to another province and did the whole scam thing all over again. Now that my grandmother has passed away I very much doubt I'll see him show up in Vancouver again--there was or is an outstanding warrant for his arrest over a DUI too.
He's a piece of poo poo to say the least.
You can avoid an arrest warrant by just going to Ontario?
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Jan 26, 2017 23:37
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- namaste friends
- Sep 18, 2004
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by Smythe
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https://www.vice.com/en_ca/article/what-its-like-to-use-sex-work-to-afford-living-in-vancouver
quote:
What Its Like to Use Sex Work to Afford Living in Vancouver
Life inside a Vancouver teardown, where a cohort of friends keep afloat by camming, stripping, and escorting.
Nineteen-year-old Eva* gets a lot of requests when she's camming, most of which she ignores. On principle she says no to anal, fisting, or any ask for her to dance.
"I'm a bad dancer, and I feel really embarrassed," she told VICE. "I'm cool with vibrators and dildos and requests like, 'Can I see your feet?' That's all fine by me. I can't squirt, but if I could, I'd be totally fine with that, too."
For some young women who are just trying to live in Vancouver, masturbating for a virtual audience is just one way to be "resourceful" when minimum wage doesn't meet the cost of living. Eva is part of a cohort of friends and former roommates who see various shades of sex workfrom escorting and stripping to camming and sugar datingas an extra boost to break even in Canada's most expensive city.
Camming wasn't Eva's first Vancouver gig. After moving here from her eastern BC hometown just over a year ago, she found a barista job that had little hope of covering her bills. Her shifts were only three or four hours at a time, and tips were minimal.
"I was definitely living paycheque to paycheque," she recalled of those first few months, living in a teardown with half a dozen friends and an ex-boyfriend. When their $3,000+ rent was split seven (or more) ways, depending on the month, they were at least paying much less than average. But most of the electric outlets didn't work, the plumbing was iffy, and the city eventually condemned the building this past December.
Read More: Meet the Bouncers of Camgirl Chatrooms
Even when she hated her job and her house was falling apart, Eva says she never felt desperate. There was always food in the fridge, but some days she found herself skimping on things like bus fare, and by the end of each month, she'd start to see a gap between what she wanted to have and what she could afford.
To close that gap, Eva turned to Chaturbate, one of the world's most popular cam sites. "I always thought it was a reasonable way to make money," Eva told VICE. "I think I've always had a pretty casual outlook on sex."
Along with other friends, she also tried WhatsYourPrice.com, a site that lets you choose a rate to go on an in-person date with a stranger. Not to be confused with an escort service, agreeing to a date usually means going out for dinner or drinks with someone 25 or more years older.
"I've definitely gone on dates for like $300 to $500," she said. "Now that I'm a little more stable, I don't need to do that anymore. It's pretty uncomfortable I don't want to be around people like that at all."
At first Eva was adding anywhere from $500 to $1,000 a month to her income by having sex on camerasometimes by herself, sometimes with her boyfriend of the time. She used a camming cheque to buy a new phone when she lost her old one.
Usually the money comes easy, given in the form of online "tokens," but Eva says it's not a guarantee. "Some nights I make $300 or $500 in an hour, and sometimes I do it for two hours and make like $75, which can be discouraging and frustrating, because people can still be active and talking to you and saying rude things while you're not making any money."
Though she hasn't always had a positive experience with camming, Eva found it a comforting alternative to the minimum wage grind that was burning out some of her friends. Its greatest attraction: "more money for less time spent."
Vancouver's real estate prices finally began to cool off in December, but so far the rental market hasn't seen the same drop. According to one rental report, the average one bedroom went for $1,820 in December, with the average two bedroom costing $3,030. January could see renters fall even further behind, as landlords are allowed to raise rent by 3.7 percent this year.
After a long and stressful search through curtained-off living rooms and tiny basements, Eva and friends settled on another temporary teardown for the next few months.
For one of Eva's former roommates, Tamara*, the end of the monthwhen rent is due and funds are generally loweris usually when escorting pops into the back of her mind. "I have some clients that I go see. I'll call them up, sometimes."
Through a friend, the 21-year-old was able to access an apartment for sex workers, and she set up her own online ad. For a few hundred dollars, she met with a handful of clients for sex over a few months in the fall.
Though she hasn't escorted in the last month or two, the extra cash helped her cover rent and buy a laptop. She also keeps an eye on her SeekingArrangement.com account for potential sugar daddies. "But that might be more emotional labour than it's worth," she said.
Tamara says she feels a bit of a generational divide between rich boomers and screwed-over milliennials, but also points out a gender split. She says women don't have the same options when it comes to making cash quickly. "If men want to make absurd amounts of money in a short time they can go into construction," Tamara told VICE. "Labour work is more profitable."
Though not as physically draining, Tamara says sex work does start to take an emotional toll. She adds it's only possible for her because her family lives far away. "It's this secret you have, and it does sort of stick with you. You don't realize how much it's going to affect you."
Eva and Tamara say they've never considered any kind of sex-related work for a full-time job. The easily accessible technology and their generation's more open attitude toward sex makes it easier for women like them to step in and out of the industry just to keep afloat. In the summer, Eva found herself a new restaurant gig that has better hoursa job that has allowed her to save and will even start covering medical benefits in May.
Still, Eva keeps camming an occasional part of her lifeusually once or twice a month for some extra spending cash. "I like camming because it's a very consensual experience for me," she told VICE. "I feel really cute when I cam. I dress up really nice, I do my makeup, and I have a really comfortable environment for myself in my home."
But for Eva's next financial hurdle, she may need to turn to something else. Right now her laptop doesn't work and needs a $700 repair, which means she can't use camming to make up the difference. "It's definitely been something kind of in the back of my mind. I'm stressing a little."
Though friends' moms have expressed fear over these womens' choices, Eva says it's not a desperate situation at alljust part of being resourceful in an economy that doesn't help young renters. With camming she can afford to treat herself sometimes, to clothes, makeup, art and house plants. One thing she'd like to be able to afford one day is school.
"I think if I was in school I would be camming a lot more, because I don't think I'd be able to work and live in Vancouver," she told VICE. "It's definitely not something I want to be doing forever, but I could see myself doing it for the next few years."
God, millenials are so entitled. Why can't they see that their parents also had to degrade themselves with sex work and living in 200 sqft microcages with no windows in order to save up to buy a house?
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Jan 26, 2017 23:47
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- cowofwar
- Jul 30, 2002
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by Athanatos
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To be fair she was born in 1998 so I'm not sure if she's a millenial. I assume her generation is even more hosed than millennials though. No housing equity to pass down.
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Jan 27, 2017 00:08
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- namaste friends
- Sep 18, 2004
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by Smythe
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http://business.financialpost.com/n...-housing-market
quote:
Canadas biggest bank warns of possible cooling measures coming to Toronto housing market
Royal Bank of Canada warned on Thursday that policymakers are more likely to introduce measures to cool the Toronto housing market after home sales hit a record high in 2016.
The likelihood of policy intervention to address housing risks in Toronto is increasing, economists at Canadas biggest bank said in its January Canadian Housing Health Check.
RBC did not specify whether further moves would be introduced by the federal government, the provincial government in Ontario or Canadas financial regulator.
Canadas finance ministry last year implemented stricter rules for mortgage providers while the provincial government in British Columbia slapped a 15 percent tax on foreign buyers to help bring prices down in the sky-high Vancouver market and make prices more affordable for ordinary people.
Separately, Canadas federal housing agency on Thursday said that, for the second quarter in a row, overvaluation and price acceleration were causing stresses in the housing market.
The Canada Mortgage and Housing Corp (CMHC) said six cities showed strong signs of problematic conditions, including Vancouver and Toronto. That was the same number as in October, though Victorias risk level rose, while Calgarys declined.
We continue to detect strong evidence of problematic conditions in Canada, CMHC chief economist Bob Dugan said in a statement.
Price acceleration in Vancouver, Victoria, Toronto and Hamilton indicates that home price growth may be driven by speculation as it is outpacing what economic fundamentals like migration, employment and income can support, he added.
The Vancouver housing market has slowed since the foreign tax was introduced although economists are divided about how much was due to the tax. Ontario has played down the chances of implementing a similar tax but has not entirely ruled it out.
RBC said in its report that prices have continued to accelerate in Toronto particularly for single-family detached homes, which are in short supply.
so when are we going to see mortgage insurance deductibles?
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Jan 27, 2017 00:44
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- Lain Iwakura
- Aug 5, 2004
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The body exists only to verify one's own existence.
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Taco Defender
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https://www.reddit.com/r/personalfinance/comments/5o8t9f/need_help_just_found_out_60_year_old_parents_have/?sort=confidence
quote:I found out recently that my parents are in debt and desperately in need of help. I am incredibly worried about their financial situation and don’t know where to go from here. They have not made the best financial decisions over the years and have very little saved up for retirement. The details:
* My 61 year old dad is currently working and earns $50,000 gross annually. He was hoping to retire within four years when the mortgage will be paid off but only has $10,000 in RRSP saved up
* My 64 year old mom retired at the age of 60 and is relying on CPP and investment income averaging $15,000 per year from the principal of her pension.
* There is virtually nothing in their joint chequing and savings account
* $15,000 in outstanding credit card bills
* An outstanding $90,000 mortgage
* A nearly maxed out $65,000 LOC (my mom says this is the only account but my dad and I have reason to believe there are additional LOCs)
* They are spending more than they are making by at least $1,000 per month
* Some items they have spent on I feel are unnecessary:
* They spend $65/month on lottery tickets
* They bought a $27,000 brand new car for me as a graduation gift and were making monthly payments. I took over the payments when I learned the severity of their financial situation and am in the process of selling the car
* My mom spends $300/month on dining out (excluding times they pay for others)
* My mom is in charge of paying the bills and maintaining the accounts, but she clearly doesn’t track if and how much they are overspending by – I think she just shuffles the debt around between the LOCs and credit cards
I used to pitch in $1,200/month but stopped since my mom gave me no financial details when asked
When I approached my parents about their finances, my mom said we were doing fine and my dad was unsure where we stood. We sat down together to confirm how they were doing financially and were appalled by what we found out (see above). When I drew up a budget to cut expenses my dad was open to making cuts on his end but mom gave no concessions and promptly walked out of the room.
I feel that my dad is onboard with trimming expenses and is content with working past his planned retirement age to chip away at the debt. My mom, not so much. In fact my mom spent an additional $600 on furniture (we already have and don’t need) the day we drew up a budget. She is a little proud and stubborn, and will not take no for an answer. She also won’t give up on reducing ridiculous amounts spent on lottery tickets each month. I feel that my mom’s concept of house ownership is delusional since she thinks we can suck the equity out of it unlike the “less fortunate” renters who have no equity to rely on.
How can I get my parents out of this rut and repay their debt? I feel the first task at hand is to reduce spending, but how do I change my mom’s mindset? I have considered suggesting to them to sell their current two-bedroom townhouse and move to a one-bedroom condo but I am unsure at this point if the benefits of downsizing outweigh the moving costs. Also what’s to stop my mom from saving enough after the move? What other options do we have?
All this is stressing me out.
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Jan 27, 2017 02:21
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- dev286
- Nov 30, 2006
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Let it be all the best.
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Financially screwed parents
What percentage of boomers are in this exact situation? 50%?
They'll never retire.
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Jan 27, 2017 02:30
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- HookShot
- Dec 26, 2005
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Jesus.
I'm really lucky that my mom is basically the most financially conservative person ever. Every time she's had to renew her mortgage she's kept the payments the same as when she first bought the house off my dad, and has just been paying all the extra to the principal. She's going to have paid her house off probably in the next 2 years and she bought it from my dad in 2006 when they got divorced.
My dad on the other hand is a financial disaster, the reason they got divorced is he was stealing money from my mom and hiding it in a secret bank account, and "paying" the mortgage, a HELOC, by withdrawing money from it as cash and re-depositing it into the account as payments. Now he has to work for a living again, and I'm pretty sure his retirement plan is to continue going from girlfriend to girlfriend who own detached houses in North/West Vancouver and hope that he gets put in their wills. But the good thing is I don't care enough for it to affect me at all.
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Jan 27, 2017 02:34
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- namaste friends
- Sep 18, 2004
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by Smythe
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Hold up. How do you become a prostitute in a small interior town and maintain any sort of um life
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Jan 27, 2017 02:57
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- James Baud
- May 24, 2015
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by LITERALLY AN ADMIN
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Anonymity of the big city takes it!
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Jan 27, 2017 03:03
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- namaste friends
- Sep 18, 2004
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by Smythe
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Really? Convincing Vancouverites to sign over their finances to their degenerate children? Things have really accelerated since the concept of "waiters".
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Jan 27, 2017 03:10
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- shrike82
- Jun 11, 2005
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Lol this thread is going to be 4 years old.
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Jan 27, 2017 03:28
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- I would blow Dane Cook
- Dec 26, 2008
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Lol this thread is going to be 4 years old.
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Jan 27, 2017 04:11
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- Reince Penis
- Nov 15, 2007
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by R. Guyovich
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Lol this thread is going to be 4 years old.
Lots of 4 year olds still poo poo the bed honey, it's OK.
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Jan 27, 2017 05:35
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- Mandibular Fiasco
- Oct 14, 2012
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This is depressing as hell, but I think there are an awful lot of people out there like this. An ex-girlfriend's parents were like these people, but not quite as bad. They still had a bit of money, but it wasn't like they wanted to portray. The whole boomer retirement thing is going to be really interesting. For those that have defined benefit pensions, things will be good, but for those who don't, it won't be pretty. Seniors in poverty will become a very real thing again, but there will be so many of them we won't be able to afford to look after them as they'd like. Families will end up having to pick up the slack, because government doesn't have the money to build all the long-term care beds and provide all the home care that everyone thinks they are 'entitled' to.
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Jan 27, 2017 06:14
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- namaste friends
- Sep 18, 2004
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by Smythe
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Check out every BC MLA's financial disclosure:
https://thetyee.ca/News/2017/01/26/...=editorial-0117
Interesting to see most of them are pretty unsophisticated investors. Christy Clark owns a timeshare lol
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Jan 27, 2017 06:18
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- Postess with the Mostest
- Apr 4, 2007
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Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes
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Timeshare, you mean that 1/2 recreational? That's probably her Galiano Island family cottagemansion split with a sibling or something.
https://thetyee.ca/Blogs/TheHook/Election-Central/2011/06/02/ClarkDeclared/
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Jan 27, 2017 06:33
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- rhazes
- Dec 17, 2006
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Reduce the rectal spread!
Use glory holes instead!
An official message from the British Columbia Centre for Disease Control
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I'm not saying that he could have been forgiven for that or if his marriage would have lasted--when they were having their first kid, he went off with a sex worker one time. What I am saying is that it is possible for him to attempt to redeem himself but instead he just ran off to another province and did the whole scam thing all over again. Now that my grandmother has passed away I very much doubt I'll see him show up in Vancouver again--there was or is an outstanding warrant for his arrest over a DUI too.
He's a piece of poo poo to say the least.
Jesus dude.
I can somewhat relate, though not as bad. My parents, on both sides, have deadbeat siblings. (My dad's is a step-brother, fully unrelated by blood.) This uncle in question spirited my grandfather away to the sunshine coast and had a new will drawn up. We literally had no idea where he went. It was rewritten to disinherit my dad and aunt (The uncle in question is a MBA grad that was a taxi driver and mooched hundreds of thousands from the grandparents while they were living so they didn't have much aside from their house.) Lawsuit is ongoing,. #whitepeoplethings
Mother's side, the favorite child of my grandmother is now disinherited and had a lien on her house, then finally was forced to sell it to pay debts to my grandmother. My mom and other aunt luckily have power of attorney and removed her from the will (she's already received waaayy more than she should have, including quite a bit of the granddaughter's tuition to law school.
My parents are very financially together and don't NEED to inherit anything (I manage their investments which my dad is still increasing contributions to from his DB pension) but still, gently caress parasites.
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Jan 27, 2017 17:07
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- namaste friends
- Sep 18, 2004
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by Smythe
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http://www.fic.gov.bc.ca/pdf/enforcement/mb/mba20151222.pdf
This is what you get for being a shady mortgage broker
a slap on the wrist
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Jan 27, 2017 17:21
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- HookShot
- Dec 26, 2005
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If Canadian mortgage brokers are anything like Australian mortgage brokers (they probably are) 95% of brokers have done exactly that and worse.
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Jan 27, 2017 17:30
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- Lain Iwakura
- Aug 5, 2004
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The body exists only to verify one's own existence.
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Taco Defender
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http://globalnews.ca/news/3208750/vancouver-could-see-real-estate-boost-over-chinese-new-year/
quote:Vancouver could see real estate boost over Chinese New Year
Vancouvers slow-churning real estate market might see a slight uptick next week due to an influx of Chinese New Year vacationers.
The Chinese national holiday celebrated widely in Vancouver and around the globe begins Friday night with a week-long holiday. Many take the time off as an opportunity to travel abroad. Last year, six million Chinese left the country for vacation.
Juwai.com, a China-based website for international real estate, says a quarter of Chinese consumers surveyed plan to travel internationally during Chinese New Year, with 42 per cent of those saying they plan to shop for property while away. In total, just under 11 per cent of all people surveyed said theyll spend the holiday property hunting.
The website also surveyed 163 realtors in Canada and found 17 per cent of international agents and 16 per cent of Canadian agents had been contacted by buyers who plan to visit during Chinese New Year.
We also see Vancouver getting a steady stream of Chinese visitors seeking a lung cleansing holiday, Charles Pittar, CEO of Juwai.com, said. Canada is a top-five country for these trips. Other top lung-cleansing spots are Japan, Thailand, Australia and Switzerland. One-half billion Chinese were affected by hazardous smog this winter. They come to Vancouver for clean air, among other things.
But in Vancouver, the impact of the holiday may be more muted than in years past.
MLS data from 2016, 2015 and 2014 show an increase in the number of sales in Greater Vancouver in the week after Chinese New Year compared to two weeks before.
In 2016, there were 41 per cent more sales the week after Chinese New Year compared to the week before the holiday. That number was 11 per cent in 2015 and just under one per cent in 2014.
The slight growth could also be due to seasonal shifts in real estate, where there are typically more sales in the spring than winter.
The effects of the 15-per cent foreign buyers tax, implemented in Metro Vancouver in August, may dampen any possible increase in sales from overseas this year. The number of foreign buyers in B.C. shrank from 1,610 in July to 395 in November although that number has been consistently growing since an August low point.
Between August and November, the B.C. government collected over $48 million through the tax.
Oh. Where have we heard this before?
http://www.vancouversun.com/business/Realtors+prep+Lunar+Year+upswing+sales/7934733/story.html
quote:Realtors prep for Lunar New Year upswing in sales
Derrick Penner, Vancouver Sun 02.07.2013
Sales in Metro Vancouvers real estate markets have slowed, but realtors are still gearing up for the Lunar New Year period when, in recent years, the region has seen a bump in transactions associated with an influx of visitors for the holiday.
Its hard to say whats going to happen this year, but I expect we will see a bump in sales activity during the month of February, said Cameron McNeil, president of project-marketing firm MAC Marketing Solutions.
However, McNeil said Asian buyers have been more active in the Metro Vancouver market in recent weeks than they were through the middle of 2012.
By the end of 2012, property resales had declined 23 per cent to 25,032 transactions within the region of Metro Vancouver covered by the Greater Vancouver Real Estate Board, and realtors were describing the market as a standoff between buyers and sellers.
And at the end of January, the benchmark price for a typical home sold had dropped six per cent to $588,100 from peak levels reached last May.
However, McNeil said his salespeople are seeing an increase in activity, including from Chinese buyers.
To me, (Chinese buyers) are a leading indicator, McNeil said. What I mean is, when Chinese buyers are active, it is a little bit of a bellwether (for the overall market), and the Chinese are active.
Buyers are taking their time, McNeil said, but for developments in good locations with fair values, prices arent coming off and are selling very well.
He added that locations with established neighbourhoods, good schools and proximity to rapid transit are popular.
Buying real estate is not a Lunar New Year tradition, but the number of Metro Vancouver sales has increased along with the higher number of Chinese visitors.
On the Chinese zodiac, 2013 is the year of the snake, but McNeil said that factors little in anyones buying plans.
Lunar New Year is one of the times of the year when the Chinese visitors who are drawn to Vancouver tend to come, which is something the real estate industry noticed and catered to with receptions and sales events. The result, McNeil said, has been quite a few transactions out of that time period.
Andrew Leong, managing broker for the Macdonald Realty Westmar office in Richmond, added that China shuts down for Lunar New Year, which gives executives and business owners time to take a break from their companies and travel.
At the same time, they come here with some money, Leong said, and those inclined to spend some time in Vancouver might buy property.
However, Leong is also sensitive to Chinas internal economics, which havent been as strong as in previous years as the economies of its customers in Europe slow down and the United States struggles to bounce back.
And his impression is that there are fewer Chinese coming to Metro Vancouver.
I think they are in recession just because their customers, the U.S. and Europe, are doing less business (with China), Leong said. I think for the government, the incentive is there to keep everyone home and keep their own economy (growing).
However, Leong does expect that the year of the snake will see an uptick in sales.
The mainland China market is so much bigger than the (Hong Kong and Taiwan-driven) markets that happened in our history that Im very optimistic the market will always be here for Vancouver and British Columbia, just because were the first stop, he said.
Yep!
http://www.cbc.ca/news/canada/british-columbia/former-mac-marketing-manager-disciplined-over-fake-chinese-buyers-1.2691528
quote:Former MAC Marketing manager disciplined over fake Chinese buyers
Real Estate Council of B.C. fines Nicolas Hans Jensen, who also faces a 14-day suspension
CBC News Posted: Jun 30, 2014 11:57 AM PT Last Updated: Jun 30, 2014 12:20 PM PT
The Real Estate Council of British Columbia has disciplined a former manager of MAC Marketing for his role in encouraging employees to mislead the media.
The CBC's Matthew Black was the reporter they lied to in February 2013 at an open house for a condo development in downtown Vancouver.
CBC News was told two of the interested potential buyers in attendance were visiting from China and were looking to celebrate the Lunar New Year with a big purchase.
In reality the two women, who posed as sisters, were employees of Mac Marketing Solutions the company hired to sell the condos.
After a local Vancouver blog uncovered the deception, MAC Marketing president Cameron McNeill admitted to the charade and promised a full investigation.
"We were not forthcoming to the media about their connection with MAC Marketing and we deeply regret that," McNeill said in February 2013.
This week, the Real Estate Council of B.C. released its ruling against Nicolas Hans Jensen, who worked for Onni Realty Inc. while licensed with MAC Marketing.
In the agreed statement of facts, Jensen admits to telling the two brokerage employees to act like customers. While he claims he never told them to lie, he also said he didn't intervene to stop them talking to reporters on camera.
Jensen resigned from the company days after the story aired and the deception was uncovered. With the REBC order, he now also faces a $1,250 fine, and a two-week licence suspension. He was also ordered to complete a remedial education course.
McNeill was out of town when CBC News tried to reach him after the decision was released, but he issued a written statement.
"This incident was a difficult learning experience and because of it, MAC integrated a combination of revised training and corporate governance measures so everyone on our staff clearly understands and adheres to our high standards," McNeill said.
Jensen, who is now working with another realty company in Vancouver, did not respond to requests for comment this weekend. His 14-day licence suspension begins next month.
Andrey Pavlov, a professor of finance at Simon Fraser University's Beedie School of Business, says the REBC's disciplinary action may not be enough of a deterrent to others, and that future claims condo selling success stories will continue to be viewed with skepticism.
"This is really a licence, or almost encouragement to do more because the downside is so little," Pavlov said.
https://www.youtube.com/watch?v=tkplPbd2f60
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Jan 27, 2017 22:35
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Jun 13, 2024 04:58
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- cowofwar
- Jul 30, 2002
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by Athanatos
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In 2016, there were 41 per cent more sales the week after Chinese New Year compared to the week before the holiday. That number was 11 per cent in 2015 and just under one per cent in 2014.
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Jan 28, 2017 06:44
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Jan 26, 2017 21:09
