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leftist heap posted:Well I'm sure 10% inflation is also a political winner. Just saying that the government's primary motivation is maintaining the asset bubble, personally I'd be really happy if material reality got in their way and destroyed the housing market.
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Dec 16, 2021 18:36
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leftist heap posted:The federal government just renewed the 2% inflation mandate. Do you think the BoC is going to go against it? They are afraid of repeating 2008 a lot more than inflation Politically speaking the median voter owns a home, it's appreciating a lot faster than inflation. The 1% also hold assets which beats inflation. Propping up the current asset bubble is where the 1% and median voter actually share common interest. Inflation is relatively slow, and mostly punish people with cash savings, if you are a 45+ you are scared that your RRSP or house drops by 50% than the price of a couch going up by 5% a year. Typo fucked around with this message at 18:50 on Dec 16, 2021 |
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Dec 16, 2021 18:46
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https://twitter.com/Taleeb/status/1471285751283425280?s=20 MISSION ACCOMPLISHED everyone. The government is addressing number one problem of the housing crisis, moving to put an end to hot Chinese money snapping up properties in Miramichi, NB. Prices will return to normal shortly. It's over!!!!
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Dec 16, 2021 19:15
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Now we just need to ban tax cheats from running for government.
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Dec 16, 2021 21:25
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I can't wait for the sweet, sweet tears from American millionaires whining about their foreign property here being taxed.
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Dec 17, 2021 01:05
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leftist heap posted:The federal government just renewed the 2% inflation mandate. Do you think the BoC is going to go against it? leftist heap posted:Well I'm sure 10% inflation is also a political winner. leftist heap posted:The housing market is extraordinarily bad in this country and some of yall still want to invent guys to be mad at Hubbert posted:
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Dec 17, 2021 03:33
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Tangentially related to real estate, but one of the things that has become glaringly obvious to me since moving away from Victoria and then returning to visit yearly is how bizarre the taxi cartel is here. For instance, Victoria is the only city of its size I've ever been to where for the longest time there was no public transit option to get from the airport arrivals terminal into the city centre, forcing you to pay for a $70+ cab ride. Even now, Google Maps informs me that to take the bus from the airport, you need to walk all the way to the long term parking stand, catch a local bus at a tiny bus stop, and then transfer to a bus into downtown Victoria. By contrast, the cab stand is literally right outside the terminal. This is representative of the broader issue I experienced growing up, which was that cabs were always way overpriced and generally lovely. If you stayed out late in town as a young person and you lived in the 90% of the CRD that BC Transit doesn't serve after midnight -- or, frankly, barely at all after about 10pm, you'd better be ready to drop your entire paycheck on a cab bill. EVERYBODY I know from Victoria who travels abroad gushes about how cheap taxis are elsewhere and how amazing it would be to have ride hailing apps available here. Now the BC Transportation Board has denied Uber a request to operate in Victoria (https://x99news.com/2021/12/17/bc-transportation-board-denies-uber-application-to-operate-in-interior-vancouver-island/). The reason?: quote:...the board is not convinced that there is a public need for the requested service. Furthermore, the board believes that the application, if granted at this time, would would not promote good economic conditions in the passenger transport sector in BC, for these reasons the application is rejected. This is despite Uber presenting pretty compelling evidence that there is in fact a huge amount of demand for alternative transport options. I'm not a huge fan of Uber, but if there's any industry that needs some disruption it's cabs in Victoria. With so many people living farther from the city centre, it either needs some new form of public transit to seriously improve connectivity (which will never happen any time soon, because CRD) or some greater competition for private options that at least make it possible to go from downtown to Langford after dark without taking out a mortgage to pay for it.
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Dec 17, 2021 17:36
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HookShot posted:I can't wait for the sweet, sweet tears from American millionaires whining about their foreign property here being taxed. When the BC vacancy tax got passed it was literally non-stop whining in the local paper from boomers both domestic and American, it was hilarious MeinPanzer posted:Tangentially related to real estate, but one of the things that has become glaringly obvious to me since moving away from Victoria and then returning to visit yearly is how bizarre the taxi cartel is here. The fact there is still no public transport from the loving AIRPORT is baffling. Transit has improved over the last few years generally through. The taxis are still lovely (esp yellow cab who have some sort of exclusive contract with the airport - they are the only ones allowed to pick up from there)
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Dec 17, 2021 18:21
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Alctel posted:When the BC vacancy tax got passed it was literally non-stop whining in the local paper from boomers both domestic and American, it was hilarious BC transit had to go to battle with the private bus company to even have a direct non-milkrun route from Victoria to the ferry. Grayhound or whoever raised holy hell saying it was the government using taxes to compete with private enterprise. As part of this delicate issue they promised not to directly serve the airport so free enterprise could be protected. They also apparently have data that tells them "no one would ride it" because currently everyone drives there, thus adding transit would be pointless. It's also a matter of priorities. Our transit system is woefully underfunded and understaffed and there's routes where full buses are passing by crowds of people, that's where they try to add service rather than to an airport route they don't think many people will actually use. I wish they'd just jack up property taxes and fund a tram system designed and constructed by europeans and expand the bus system too.
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Dec 17, 2021 18:33
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BC Transit has definitely added more buses along major routes, but the transit network itself -- as in, where it reaches -- has, as far as I can tell, changed way less in the last decade than the demographic makeup of Victoria has. Add to this the fact that the Mackenzie Interchange was a huge fiasco that has apparently done very little to alleviate traffic congestion and it certainly feels like very little has changed in terms of getting around the greater Victoria area by transit.quote:BC transit had to go to battle with the private bus company to even have a direct non-milkrun route from Victoria to the ferry. Grayhound or whoever raised holy hell saying it was the government using taxes to compete with private enterprise. As part of this delicate issue they promised not to directly serve the airport so free enterprise could be protected. They also apparently have data that tells them "no one would ride it" because currently everyone drives there, thus adding transit would be pointless. It's also a matter of priorities. Our transit system is woefully underfunded and understaffed and there's routes where full buses are passing by crowds of people, that's where they try to add service rather than to an airport route they don't think many people will actually use. I wish they'd just jack up property taxes and fund a tram system designed and constructed by europeans and expand the bus system too. lol I remember when I'd get off the ferry at Swartz Bay as a foot passenger, see the downtown milk run bus sitting there waiting, watch everyone trying to get into town hop on it, and then waiting like 10 minutes with a handful of people who actually knew how BC transit operated for the direct downtown bus to roll up after the first one had left. Of course nowhere did it indicate that one took like 45 minutes longer than the other to get downtown. The airport cab monopoly is such loving bullshit. Absolutely infuriating collusion between the government and these lovely cab companies. The last city I lived in in the UK was almost exactly the same size as Victoria, with its airport a similar distance from downtown, and it had a 10-bay bus terminal attached directly to the airport serving the entire city and its suburbs with buses running regularly about 18 hours a day. MeinPanzer fucked around with this message at 19:39 on Dec 17, 2021 |
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Dec 17, 2021 18:50
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I suppose you guys aren't excited for RapidBus: BC Transit's new rebranding of its existing buses to seem like they're improving service. Sounds like a Bus Rapid Transit plan, right? Exactly! That is exactly the impression the RapidBus plan was designed to give without actually being a BRT.
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Dec 17, 2021 19:54
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Flocons de Jambon posted:I suppose you guys aren't excited for RapidBus: BC Transit's new rebranding of its existing buses to seem like they're improving service. Sounds like a Bus Rapid Transit plan, right? Exactly! That is exactly the impression the RapidBus plan was designed to give without actually being a BRT. Sounds like it's deliberately creating ambiguity as RapidBus already means something specific in the TransLink context.
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Dec 17, 2021 20:06
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I'll take your word for it. I'm not well versed in the mainland way of doing things.
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Dec 17, 2021 20:13
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Mantle posted:Sounds like it's deliberately creating ambiguity as RapidBus already means something specific in the TransLink context. Considering TransLink's RapidBus is also simply limited stop service in different coloured buses intended to sound like BRT, it's spot on.
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Dec 17, 2021 20:49
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Debates about transport links and infrastructure within greater Victoria have been raging as long as I can remember (proposals to revive an actual lower Vancouver Island commuter train have been in the "we're strongly looking into this, we mean it" stage for at least a quarter of a century) but to my knowledge the only significant changes that have actually been implemented are: 1. The Mackenzie Interchange. 2. More bike lanes in and around downtown. 3. Better bus service to and from the ferry terminal. The net impact of which has been modest, to say the least. Actually, I take that back -- the bike lanes have probably caused at least a few hypertensive boomers to drop dead out of pure apoplexy, so that is an improvement.
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Dec 17, 2021 21:04
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MeinPanzer posted:Debates about transport links and infrastructure within greater Victoria have been raging as long as I can remember (proposals to revive an actual lower Vancouver Island commuter train have been in the "we're strongly looking into this, we mean it" stage for at least a quarter of a century) but to my knowledge the only significant changes that have actually been implemented are: The bus to the ferry is very good, as someone who lives a block away from one of the stops. A train to Langford/Sooke/etc would be a game changer.
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Dec 17, 2021 21:43
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The bike lanes have been good where they exist. The other municipalities need to start doing a way better job connecting to them though.
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Dec 17, 2021 22:14
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I'm pretty convinced a train is never ever happening again and at this point it's just a consulting grift.
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Dec 17, 2021 22:15
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leftist heap posted:The bike lanes have been good where they exist. The other municipalities need to start doing a way better job connecting to them though. Yeah I think this gets at the core issue, and what makes Victoria exceptionally (uniquely? I'm not familiar with other Canadian cities that might be in a similar political situation) lovely in terms of address social and economic issues: the structure of the CRD means that anything that requires concerted effort to address, from policing to housing policy to transportation to sanitation, inevitably runs up against municipal fragmentation. It's insane that 380,000 people are represented by 13 municipalities. Case in point: Langford pushing through huge amounts of residential development and shifting population to the western communities, leading to way more people commuting by vehicle into the City of Victoria, while the City of Victoria itself builds bike lanes that reduce parking spots. Adding more bike lanes is obviously a good thing, but that kind of development needs to be part of a bigger coordinated plan to improve public transit options throughout the CRD.
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Dec 17, 2021 22:41
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Bring back the Dayliner.
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Dec 17, 2021 22:51
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McGavin posted:Bring back the Dayliner. I have a lot of fond memories of taking it up to Chemainus and Courtenay for the day in the summer. Bring that sucker back!
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Dec 17, 2021 23:17
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MeinPanzer posted:Yeah I think this gets at the core issue, and what makes Victoria exceptionally (uniquely? I'm not familiar with other Canadian cities that might be in a similar political situation) lovely in terms of address social and economic issues: the structure of the CRD means that anything that requires concerted effort to address, from policing to housing policy to transportation to sanitation, inevitably runs up against municipal fragmentation. It's insane that 380,000 people are represented by 13 municipalities. Identifying broken connections in cycling infrastructure between municipalities in Greater Vancouver has been a big focus of the regional cycling advocacy group for the past few years. https://bikehub.ca/get-involved/ungapthemap Last I heard, TransLink is putting some money into addressing at least some of these gaps. But yeah it's kind of a problem with how the Province and cities are organised. The actual metropolitan areas are Balkanized into more than a dozen municipalities each, and the next level of government up from that is the Province. And the Province is really more set up to deal with rural issues, like long distance infrastructure and resource extraction, than it is to build and coordinate urban infrastructure. Plus the BC Liberals' base was largely outside the cities, so there was a fair bit of neglect over the nearly 20 years they were in power.
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Dec 17, 2021 23:33
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McGavin posted:Bring back the Dayliner. Someone just needs to cough up half a billion to fix the line first. Unironically I think we should, but you gotta convince the Province of that. Also lol, here's the latest South Island Transportation Strategy: https://www2.gov.bc.ca/assets/gov/d...ion_-_final.pdf Lol there are pages of text paying lip service to active transportation and transit, and more than a dozen goals. But when you actually look at the goals, they're 90% "encouragement" and "investigation", and "ensuring it gets thought about during existing projects". And then there are are four highway project goals just quietly listed. Each has very firm language, like "complete" or "construct", and each represents tens to hundreds of millions of dollars. So yeah, good luck getting MOTI to put any significant amount of money into anything that isn't car infrastructure.
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Dec 18, 2021 00:09
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As a new Canadian I should celebrate by buying the biggest house my income can afford and taking the lowest variable rate mortgage that will almost certainly leave me insolvent with a rate rise of 10 basis points
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Dec 18, 2021 01:20
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Lead out in cuffs posted:So yeah, good luck getting MOTI to put any significant amount of money into anything that isn't car infrastructure. Meanwhile, watch this video to get real mad at how cities with similar climates can make incredibly significant changes to get people out of cars in short order. https://www.youtube.com/watch?v=sI-1YNAmWlk
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Dec 18, 2021 02:05
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Flocons de Jambon posted:I suppose you guys aren't excited for RapidBus: BC Transit's new rebranding of its existing buses to seem like they're improving service. Sounds like a Bus Rapid Transit plan, right? Exactly! That is exactly the impression the RapidBus plan was designed to give without actually being a BRT. lol. The old Surrey council was completely behind an LRT system for Surrey that would connect major growth centres Newton and Guildford, and be cheap enough to be easily expandable to the vast other areas of Surrey. Activist group SkytrainForSurrey seemingly successfully shifted public opinion toward Skytrain to Langley and BRT for Newton and Guildford, noting that Skytrain's sketched out BRT option was "just as good as LRT." The old council was thrown out and the new one bailed on LRT in favour of Skytrain/BRT. Of course the completely expected thing occurred. Skytrain is wildly expensive and once the plan became reality it was wildly over budget. The overruns naturally came via trimming down the other part of the plan, the BRT for Newton/Guildford. Now the BRT which SkytrainForSurrey claimed was "just as good as LRT" has become RapidBus, which is effectively a rebranded bendy bus B-Line with a few bells and whistles. In absolutely no loving way the sort of BRT that SkytrainForSurrey claimed would be adequate and certainly not comparable to LRT. All of this has been great for people living in Langley, and the detached home owners in ultra low density suburban sprawl Fleetwood (on the way to Langley) that will be able to sell their homes to developers for a mint. On the losing end is everyone in Newton/Guildford, the most populated centres of Surrey that had been densifying the most for the last several years, and who will be getting what amounts to a minor bus upgrade and now will be thrown to the back of the line for any and all transit upgrades, presumably not to get anything new for some 10+ years. Personally I think a skytrain to Langley is great, I have family in Langley, but I can't help but marvel at how Surrey voters somehow completely hosed themselves. I don't understand how they didn't see this a mile away. I guess skytrain is just so shiny and fast people couldn't see past that. Maybe Newton/Guildford peeps will get super lucky and somehow some charismatic politician will propose building them some skytrain spur line (if this is even technically possible) and they'll jump to the head of the line somehow, ahead of the North Shore, Vancouver UBC line and SFU, but doesn't seem terribly likely to me. Nah it's more likely they'll be riding the lousy bus for a long time to come. Femtosecond fucked around with this message at 02:56 on Dec 18, 2021 |
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Dec 18, 2021 02:09
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MeinPanzer posted:I have a lot of fond memories of taking it up to Chemainus and Courtenay for the day in the summer. Bring that sucker back! I have fond memories of spitting on it with all my friends as it went under the bridge we had to cross to get to school. Also putting pennies on the tracks before school and picking up the flattened ones after school.
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Dec 18, 2021 02:18
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Boy I wonder why vacancy is so low and rents keep going up???? Total loving clown show.quote:Split vote by DNV council quashes Maplewood Gardens redevelopment plan After 5 fuckin' years of work North Van District spikes a proposal that would have met environmental goals, fit within the existing plan, and would have helped with the insanely low vacancy rate. Crazy man. And so things will continue to get worse. The last bolded passage at the end suggests that next step is reno-fuckin-viction for the existing tenants of the current buildings, as if redevelopment is not possible, well renovation is the only way forward. If so NVD will have killed a plan that would have created below market homes and would have enabled existing tenants to remain on site and instead all those existing tenants will be displaced by yuppies paying a fortune to rent a dolled up, lovely decades old building because that's the only option.
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Dec 18, 2021 02:53
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Femtosecond posted:Boy I wonder why vacancy is so low and rents keep going up???? Total loving clown show. Here's the application on the DNV website - Council report is attached in the very bottom. Here's the Council meeting recording - Staff presentation at 1:15:00, Council deliberation begins at 1:27:00. lmfao the Mayor's motion to defeat the application was immediately seconded. What a surprise - the developer bends over backwards, accommodates the tenants to their best possible ability, the application was fully consistent with the OCP (height was to be determined on a case-by-case basis), provided secured below-market rental housing, and enjoyed staff support, and yet it was still defeated by Mayor and Council in a 4-3 vote lmfao. edit: Council could have referred the application back to staff with specific direction on what could be amended, but no, they killed the application dead instead lol lmao Just some details regarding the 58-unit Maplewood Gardens site (tenant relocation, unit-for-unit 'replacement, etc) from the report. quote:Goal 5: Minimizing Impacts to Tenants quote:Rental Replacement Units (58 units) quote:Tenant Relocation Assistance Hubbert fucked around with this message at 03:47 on Dec 18, 2021 |
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Dec 18, 2021 03:33
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Last few years have broken my brain, what did something like this used to go for? I am just shocked to see anything under $350k https://www.facebook.com/marketplace/item/307941874495443
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Dec 21, 2021 00:34
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Alctel posted:Last few years have broken my brain, what did something like this used to go for? I am just shocked to see anything under $350k REW Insights says around $310K in 2019, $270K in 2018, barely over $100K in 2004. So "only" a doubling in price after inflation. e.g. https://www.rew.ca/insights/1537740/308-1061-fort-street-victoria-bc https://www.rew.ca/insights/1537747/315-1061-fort-street-victoria-bc Edit: built in 1963. Also I'm getting claustrophobia just looking at the pictures. Lead out in cuffs fucked around with this message at 00:51 on Dec 21, 2021 |
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Dec 21, 2021 00:46
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Lead out in cuffs posted:REW Insights says around $310K in 2019, $270K in 2018, barely over $100K in 2004. So "only" a doubling in price after inflation. Yeah that went up a lot less than I thought it would have. I guess that it's just too small for the people with money to buy a house I live in a boat and even I went 'wow that's really tiny' Also the kitchen is upstairs and separated from the bathroom by a hanging drape, unless I'm missing something
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Dec 21, 2021 01:07
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Notice how they do not mention the square footage anywhere.
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Dec 21, 2021 01:43
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McGavin posted:Notice how they do not mention the square footage anywhere. Yep. REW has other units in the building listed as 406-422 sqft, but I've lived in a place that was 330sqft, and it was way bigger than that.
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Dec 21, 2021 01:50
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It doesn't have an apartment number but BC assessment has some studios in that building at 318 square feet.
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Dec 21, 2021 03:01
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HookShot posted:It doesn't have an apartment number but BC assessment has some studios in that building at 318 square feet. That is tiny, wow. My office/dining room/guest bedroom/bike storage/freezer room is only a little smaller than that.
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Dec 21, 2021 14:39
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quote:Canada should temporarily ban foreign home buyers, rezone cities - housing minister Nice to see a growing consensus that we can't continue to devote the majority of areas in our cities for exclusive detached home use. They aren't actually able to implement this policy so there's no risk for the Liberals to vaguely suggest that this is a good idea. If the Liberals have data that suggests that foreign buying remains a pressing issue, especially in areas outside of Vancouver/Toronto that already have taxes I'd like to see it. Feels like an insincere electoral promise, the intent being to have something on the page, not to solve some real problem.
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Dec 22, 2021 19:06
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Actually, if we we put more and more people into inadequate houses there's no housing shortage, I am very smart. https://financialpost.com/opinion/g...2f97904488/amp/ Let's just pretend there's no relationship between house size and family size, or household size and supply of housing and then we are no longer the worst in the G7 lol. COPE 27 fucked around with this message at 20:55 on Dec 25, 2021 |
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Dec 25, 2021 20:53
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evilpicard posted:Actually, if we we put more and more people into inadequate houses there's no housing shortage, I am very smart. I've been seeing a lot of "we're making more houses than net population growth" articles, but I get the sense they're using new housing starts without subtracting old housing demolished.
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Dec 26, 2021 01:23
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Lead out in cuffs posted:I've been seeing a lot of "we're making more houses than net population growth" articles, but I get the sense they're using new housing starts without subtracting old housing demolished. I would think demlishions are negligible. Quick Google shows 940 permits in Vancouver in 2016. Vast majority old poo poo boxes not worth renovating.
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Dec 26, 2021 08:03
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