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Yeah that's an odd story, not knowing the destination or price is not how Uber works. Even if someone else booked for you you would see this stuff right? Anyway whatever. Tricking Indian students into populating our dying towns is certainly one way of doing things.
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# ? Jan 2, 2024 15:00 |
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# ? Jun 12, 2024 13:23 |
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Nairbo posted:Tough to be making any predictions but there’s a whole lot of condos with cancelled listings over November and December, presumably to be listed in the ‘spring market’ which starts in a few weeks. That, plus the large amount of projects completing in 2024, and tepid incomes vs the asking prices? Even with a potential single .25 cut by June, it’s possibly going to be a bloodbath of supply in the condo market this year -. I’d be surprised if condo prices in Vancouver don’t end up 20% below 2019 levels. Especially the 1BR/studio ‘luxury’ shitboxes coming from Airbnb hosts looking to get out. I doubt it will go down that far rental prices are high enough to prop up prices, the demand is clearly there
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# ? Jan 2, 2024 17:34 |
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Typo posted:I mean obvsly we are gonna have to see “asking price” is marketing, not economics. “are places selling for a loss given carrying costs?” is the question…
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# ? Jan 2, 2024 17:52 |
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Purgatory Glory posted:Google "fake Indian doctor": Purgatory Glory posted:I wish I was as optimistic as the shithead above who thinks that infinity is the right number of immigrants.
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# ? Jan 2, 2024 18:49 |
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CoV jurisdiction was +1% overall. Somewhat surprised it's not worse. The dates where these things are measured are in the summer, so last years' 2023 assessement, done in summer 2022, was at practically a high water mark before interest rate hikes really kicked in. No surprise that it would be worse, but so mild as to end up being +1% is remarkable. I have been hearing people generally post that their near core condos were -5% so I guess some SFHs somewhere made enough gains to make up the difference. I'm not sure there's enough supply coming on market for there to be a big price collapse in the near term. At least not in CoV. Maybe there's more coming online in Metro that will have stronger influence there. There's just not that much being built. I don't think Airbnb will make a remarkable difference because the rules that the Province is bringing in are less stringent than what Vancouver already has in place. Ostensibly there's going to be "help with enforcement" from the Province "soon" but not clear that will be anything. The more significant price correction will be in places like Parksville, Victoria or Sunshine Coast where a one two punch of Airbnb regulation plus Return To Office is forcing people to put more homes on the market. If interest rates were low they'd instantly be snatched up, but with rates as high as they are, they'll linger around. I feel like the BC Assessment numbers for this year are like white noise. The numbers are estimates based on sales and there's been like no sales. In my 'hood I've been looking at the same couple of houses stuck on the market for months on months. Nothing is selling and so price discovery is impossible. In this environment the assessed value has less and less of a relationship to whatever on earth the real value of homes is.
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# ? Jan 2, 2024 20:32 |
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quote:Assessed property values stabilize in parts of B.C., including Metro Vancouver Obscure areas lurching higher makes some sense. Part of just a greater Canada wide trend of people who want that SFH at all costs fleeing expensive areas and going ever further away. Just having a look and surprised to see one of the hipper hotspots of young people fleeing Vancouver, Cumberland, is down 6%. I guess 2022 was the peak here. Femtosecond fucked around with this message at 21:26 on Jan 2, 2024 |
# ? Jan 2, 2024 21:21 |
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Nairbo posted:tepid incomes vs the asking prices Yeah, everything is still priced like 2% mortgages are still available and/or right around the corner in a few months, bro, I promise, even though that's just not happening. People who must sell in 2024 will eventually figure out what they need to do, given the tepid incomes mentioned above.
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# ? Jan 3, 2024 06:51 |
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This reminds me that last year Ontario delayed re-assessments yet again, past 2024. So maybe we'll get it 2025? Our assessments are still from 2016. It's been so long that I could believe some significant relative changes have happened among the various neighbourhoods.
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# ? Jan 3, 2024 14:43 |
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First hate read of the year? quote:‘All I’m doing ... is working and paying bills.’ Why some are leaving Canada for more affordable countries We just spent several years wringing our hands about ~foreign buyers~ in Canada have come to the conclusion that the solution to our affordability woes is.... to become a foreign buyer Airbnb landlord in another country. Brilliant. Also I'm sorry, what a $600,000 grant to clean up this property? Boy that would be pretty nice, but um that is such a large amount of money that I feel there must be more to this story here... Somehow I feel these folks aren't going to have the disposable income they suspect they're going to have... Mildly concerned about how many people out there might be brain poisoning themselves by doom watching MillennialMoron on tiktok, much in the same way that we gave ourselves some damage by listening to CI in this thread for so long.
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# ? Jan 3, 2024 18:51 |
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Honestly, good for them. E: not going to say I'm not a little jealous and definitely can hear Jarvis Cocker singing "Take your year in Provence and shove it up your arrrrrrsssseee" while reading. large hands fucked around with this message at 19:13 on Jan 3, 2024 |
# ? Jan 3, 2024 19:08 |
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quote:said Ms. Nelson, a content creator and marketing consultant. hm
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# ? Jan 3, 2024 19:43 |
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She makes those 5 minute craft videos where they fix furniture with ramen noodles, or make a $10 item with nothing but a glue gun and 3 $20 items.
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# ? Jan 3, 2024 19:54 |
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Hi it’s Ms Nelson and this is a day in the life of a marketing consultant, today I went to work the coffee was amazing, I came home but first stopped off at farm boy and bought these amazing egg noodles, they’re the best, had dinner with my boyfriend who just bought property in Portugal, anyway thanks for watching and I’ll see you next time
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# ? Jan 3, 2024 20:19 |
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Uh, you can rent a 2-bedroom apartment in Toronto for well under $4k/month. I guess if you insisted on only l*xury condos downtown you could fail to find anything "suitable" for less.
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# ? Jan 3, 2024 20:41 |
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qhat posted:Hi it’s Ms Nelson and this is a day in the life of a marketing consultant, today I went to work the coffee was amazing, I came home but first stopped off at farm boy and bought these amazing egg noodles, they’re the best, had dinner with my boyfriend who just bought property in Portugal, anyway thanks for watching and I’ll see you next time I even heard this in a TikTok presenter voice
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# ? Jan 3, 2024 21:00 |
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Femtosecond posted:First hate read of the year? if I spoke Spanish I would probably unironically decamp to Mexico for a years or two lol the $2500 you are paying for a 1bd apt in toronto/month would go a long way in CDMX Typo fucked around with this message at 21:05 on Jan 3, 2024 |
# ? Jan 3, 2024 21:02 |
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Typo posted:if I spoke Spanish I would probably unironically decamp to Mexico for a years or two lol Congratulations, a lot of mediocre white douchebags are a step ahead of you and you can easily get by in CDMX speaking only English!
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# ? Jan 3, 2024 21:06 |
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PT6A posted:Congratulations, a lot of mediocre white douchebags are a step ahead of you and you can easily get by in CDMX speaking only English! I was in CDMX last month trying to get by without speaking Spanish was incredibly awkward
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# ? Jan 3, 2024 21:10 |
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In order to learn Spanish, it would be cheaper to move to CDMX and make friends than to live in Toronto and take lessons.
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# ? Jan 3, 2024 21:12 |
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a primate posted:I even heard this in a TikTok presenter voice
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# ? Jan 3, 2024 21:13 |
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It's only a small group of people that could realistically do this. Even if you're earning "good money", unless you have a job that lets you work remotely 100% of the time you're not going to be able to move.
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# ? Jan 3, 2024 21:35 |
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My cousin working at Meta was angling for something like this, with a plan to move to Valencia but it all collapsed on him when Meta started doing incredible amounts of layoffs and started calling people back to the office. Thankfully for him he didn't execute on any of it and is now back in SF. Would love to see a Globe article about all the people who ran these sort of schemes and are now being called back to the office. Heard from my Dad the other day about a son of his friend who bought a $1M+ SFH in Parksville and didn't tell his company he no longer worked in Vancouver and is being called back to the office. Yikes. Well it's ok I'm sure there are plenty of jobs in Parksville... lol Femtosecond fucked around with this message at 22:19 on Jan 3, 2024 |
# ? Jan 3, 2024 22:10 |
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Yeah, I can’t really digital-nomad with two kids under joint custody, but when I signed my contract for this job at a company that’s all-remote, I got in writing (though not in the contract proper, admittedly) that I would be entitled to 4 months severance including vesting if they ever required me to go into an office. I dunno if it’ll stand up, I more pressed for it to understand how serious they were about all-remote. We are structurally unprepared to do RTO at this point and it would take years to change that, so I’m not too worried about it being an issue.
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# ? Jan 3, 2024 22:19 |
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Femtosecond posted:My cousin working at Meta was angling for something like this, with a plan to move to Valencia but it all collapsed on him when Meta started doing incredible amounts of layoffs and started calling people back to the office. Thankfully for him he didn't execute on any of it and is now back in SF.
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# ? Jan 3, 2024 22:19 |
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Mr. Apollo posted:I know a few people who've moved out of the country. As much as they complain about our "communazi" government, they always make sure they spend the correct amount of days in Ontario to maintain their OHIP coverage. ... what? You'd have to spend 5 months (153 days) in the province per year to maintain it. Why even bother moving at that point? Edit: I guess if they keep proof of residence here they can keep it? That's some hot garbage. https://www.ontario.ca/page/ohip-coverage-while-outside-canada
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# ? Jan 3, 2024 22:59 |
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Fidelitious posted:This reminds me that last year Ontario delayed re-assessments yet again, past 2024. So maybe we'll get it 2025? lol what? How, why????
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# ? Jan 3, 2024 23:02 |
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Rawrbomb posted:... what? You'd have to spend 5 months (153 days) in the province per year to maintain it. Why even bother moving at that point? There's a variety of digital nomad whose life purpose is to move around enough to never have to pay income taxes. I don't think Canadian citizens can do this easily but even without lying it seems like you could live in Ontario for 153 days and somewhere else for the remainder of the year and only have to pay Canadian taxes while living in Canada, provided your income is not from a Canadian source. kaom posted:lol what? How, why???? The original excuse was COVID but it's anyone's guess what it is now.
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# ? Jan 3, 2024 23:10 |
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What is happening over there. I don’t think BC Assessment missed a single year - why would COVID even delay things, isn’t it based on sales data? Pretty sure this health coverage loophole doesn’t exist either: "BC posted:A person must be a B.C. resident to qualify for medical coverage under MSP.
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# ? Jan 3, 2024 23:37 |
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Rawrbomb posted:... what? You'd have to spend 5 months (153 days) in the province per year to maintain it. Why even bother moving at that point?
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# ? Jan 3, 2024 23:38 |
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The idea of complaining about residential property tax is so funny to me, now that it's such an insignificant part of the cost of buying a home anywhere in Canada. It's just a bunch of whiners who got exceptionally lucky in the real estate market and are upset that the goose who laid the golden egg for them needs bird feed every now and then.
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# ? Jan 3, 2024 23:42 |
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Mr. Apollo posted:It's only a small group of people that could realistically do this. Even if you're earning "good money", unless you have a job that lets you work remotely 100% of the time you're not going to be able to move. *raise hand*
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# ? Jan 4, 2024 00:14 |
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The government needs to ban content
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# ? Jan 4, 2024 00:29 |
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PT6A posted:The idea of complaining about residential property tax is so funny to me, now that it's such an insignificant part of the cost of buying a home anywhere in Canada. It's just a bunch of whiners who got exceptionally lucky in the real estate market and are upset that the goose who laid the golden egg for them needs bird feed every now and then. I see people in the suburbs mostly complaining about it because the rates are a lot higher and the services are so much worse than you'd get in the cities. Like if you bought an 800k house in say, Pickering just outside of Toronto back when rates were 2%, assuming 20% down you're looking at $2700-ish per month in mortgage payments and the equivalent of $774 per month in property tax. Not as big as the mortgage sure, but a sizeable amount of the monthly cost. For that you get terrible transit and dogshit city services. That same house in Toronto is only the equivalent of $444 a month in property tax. For that you get much better services and for all the issues the TTC it's still legitimately one of the best if not the best transit systems in this country. Much more bang for your buck. Sure it's because suburbs obviously are a really bad and inefficient way for people to live, but a lot of people don't think about that.
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# ? Jan 4, 2024 00:42 |
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kaom posted:What is happening over there. I don’t think BC Assessment missed a single year - why would COVID even delay things, isn’t it based on sales data? It wasn't delayed by COVID for practical reasons, it was all political which it continues to be. The last delay announced had the following rationale. quote:In making the decision, the Ontario government cites concerns about inflation, financial stress related to mortgage renewals and the need for householders to have budgetary predictability. This obviously makes zero sense because being assessed is fairly minor unless your value is really skyrocketing in comparison to the average. The municipalities have the most impact here since they're setting the rates, the assessments just change the distribution across the city. The city budget is the same whether assessments are made or not. It's so completely mind-boggling that all I can figure is that the provincial government thinks (understandably) that people don't understand how property taxes work and it will make people think that they're doing something nice for them to increase affordability? And they can blame cities for raising rates? I have no idea. The other theory is that the provincial government doesn't understand how property taxes work.
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# ? Jan 4, 2024 15:04 |
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This is always a good link to quickly share if you see someone complaining about assessments causing them to lose money by going up a tax bracket or whatever https://www.youtube.com/watch?v=_EYvg6X0bDQ
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# ? Jan 4, 2024 17:12 |
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Mr. Apollo posted:They all have "rental agreements" with friends/relatives that they use as proof of residence, and yeah it's primarily for (not paying) income tax purposes. Lol I'm pretty sure our landlords are doing this, and they're not exactly friends. Just the landlord's agent being "if there's any mail for the landlords, please pass it on to me". That mail includes all kinds of things - mail from MSP, mail from Revenue Canada for some corporation, property assessments and empty homes tax declarations from the City, etc. I'm pretty sure they're also taking advantage of that thing where the Province gives you an interest-free loan to defer your property taxes if you have kids, because that came up when I searched the land title before signing the lease. They haven't actually lived in Canada for at least three years.
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# ? Jan 4, 2024 18:15 |
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I can't believe you'd impune the integrity of your landlord like that. You should be thanking them for providing you with a place to live.
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# ? Jan 4, 2024 19:00 |
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Lead out in cuffs posted:Lol I'm pretty sure our landlords are doing this, and they're not exactly friends. Just the landlord's agent being "if there's any mail for the landlords, please pass it on to me". That mail includes all kinds of things - mail from MSP, mail from Revenue Canada for some corporation, property assessments and empty homes tax declarations from the City, etc. I'm pretty sure they're also taking advantage of that thing where the Province gives you an interest-free loan to defer your property taxes if you have kids, because that came up when I searched the land title before signing the lease. They haven't actually lived in Canada for at least three years. This would be an actually legitimate use case for the barbaric cultural practices hotline.
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# ? Jan 4, 2024 19:11 |
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To report on a tax evading landlord is not narcing; it is the path to heaven.
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# ? Jan 4, 2024 21:21 |
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# ? Jun 12, 2024 13:23 |
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Shofixti posted:This would be an actually legitimate use case for the barbaric cultural practices hotline. sorry, but only Landlords are Old Stock Canadians
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# ? Jan 5, 2024 05:20 |