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I for one am glad the Minister is standing up for our low income landlords https://twitter.com/globeandmail/status/1493526798348402689?s=20&t=iCCskx-FHQbSUEeeVYY0ZA
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Feb 16, 2022 03:33
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Won't somebody think of the mom and pop hedge funds?
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Feb 16, 2022 03:38
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Mom and pop over-the-counter derivatives traders
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Feb 16, 2022 03:40
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Oh cool good thing we can look up if our housing minister is a landlord quelle surprise
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Feb 16, 2022 03:42
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Femtosecond posted:I for one am glad the Minister is standing up for our low income landlords  RBC posted:Oh cool good thing we can look up if our housing minister is a landlord
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Feb 16, 2022 04:23
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RBC posted:Oh cool good thing we can look up if our housing minister is a landlord Do you want to evolve "Surprised PIKACHU face" to "Shockingly shocked while shocking people RAICHU face?"
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Feb 16, 2022 05:16
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edit: figured it out
Flater fucked around with this message at 05:22 on Feb 16, 2022 |
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Feb 16, 2022 05:17
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Femtosecond posted:I for one am glad the Minister is standing up for our low income landlords I don’t get it. When condo prices drop, builders make more rentals instead on condos. Is it even clear that the current model of raise-housing-prices-at-all-costs produces more rental stock?
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Feb 16, 2022 05:27
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MickeyFinn posted:I don’t get it. When condo prices drop, builders make more rentals instead on condos. Is it even clear that the current model of raise-housing-prices-at-all-costs produces more rental stock? No it's purely some bullshit to protect the investments of the wealthiest. Landlords like to think they are housing "providers" and that supporting them improves housing supply by ~methods unknown~, as opposed to people who just absorb the existing supply of homes that people would be living in anyway just so they can extract value while providing nothing worth paying for.
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Feb 16, 2022 05:51
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Femtosecond posted:I for one am glad the Minister is standing up for our low income landlords Mom and pop real estate investors provide rental stock. Quite a statement to make. How's that then? From my perspective a landlord provides nothing except a middle man that uses their capital as a means to extract money for decades out of a single asset. What value has a landlord added anywhere in this chain? The home already existed before them, they're not providing jobs that create anything, they accomplish nothing. Developers and construction workers provide rental stock. Mom and pop real estate investors exploit it.
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Feb 16, 2022 14:35
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Rent seeking is a net negative on the economy - and our neoliberal overlords seem to think that's a good thing. Imagine not having to pay 60-70-80 percent of our earned wages on just
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Feb 16, 2022 17:34
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Victoria housing anecdote report time! -My boss, a manager in the provincial government is having her rented condo sold from under her. She can not afford rents along in Victoria which are around $1500+ for a bachelor. She's going to become a remote worker and move to Prince George or Campbell River or somewhere with slightly cheaper rents, but all those garbage little towns also have like 0.5% rental vacancy so life is a nightmare. Everything in Victoria is fine though, it's normal for management positions to not be able to afford even rental housing. It's important we keep putting every new housing unit through 3+ years of reviews and letting every neighbour within 2km have a kick at downsizing the project. -Nurse friend is being evicted under the "family moving in" bullshit clause that can void all tenant rights. Mom and pop landlords, such great people. She's been in the same spot for 10 years and has a kid and can't afford to rent anything remotely similar. Doesn't have a car and walks to work so moving farther out for cheaper rent would be canceled out by car costs. Is most likely leaving Victoria to move back to Alberta where she has family and support network and affordable rents. We desperately need medical workers in Victoria, but we also need extensive shade studies to make sure out local backyard food production isn't threatened by shadows from over-development in our precious neighbourhoods. -Married couple, both at the very top of the government pay scale in management positions have been looking to buy a tiny little 2br condo or townhouse. One of their mom's is downsizing from her huge house and giving about 200k to them to help. Even with the 200k and their incomes they can't find anything. No inventory and what is out there sells instantly for 100k over asking over the same weekend. They'll need to go up to their eyeballs in debt, but the main problem is simply the lack of inventory. If you're not willing to put in a 100k over asking unconditional offer after seeing the place for 15 min, you're not getting it. Both of them have been working mostly from home over covid so are thinking of leaving for somewhere cheaper. The city will be better off without them, if we had enough housing for them it might raise issues regarding street parking availability. -Friend who finished med school wanting to move back to Victoria and start practising (not a GP though, sorry). Plan was to find a place to rent for a few months while looking for a modest place to buy. Spent 4 months simply trying to find a rental and could not, they won't rent to anyone who isn't there in person and there's 50+ people for ever apartment showing. Landlords are sometimes making people pay application fees to even look at apartments. As much as she doesn't like where she's living now, they at least have a little house and Victoria's housing situation is outright impossible. This might sound bad, but it's important we balance our critical need for housing with concepts such as neighbourhood character. Local Development Anecdotes: -Project proposed near my house: a small condo building with 18 units, 3 of them affordable, all units accessible. 4 stories, across the street from a 4 story and next to another 4 story. Voted down by our council for being too big for the area after 2 years of red tape and community consultation. -2nd proposal by the same developer: 6 townhouses, none of them accessible since no elevator, none of them affordable since there's only 6 on a small valuable lot. Council voted to support but all wagged their finger at the developer that none of the units were affordable and since they are all walk-ups, none of them accessible. -6 story wood frame apartment building proposed at the edge of downtown, about 100 units, partnership with local housing non-profit to make 20 of them affordable rentals in perpetuity. Next to 12, 10, and 4 story apartments/condos. Council voted it down because they were asking for a parking reduction and neighbours in the towers, who all have underground parkades, complained there'd be no street parking with all the renters and friends parking on the street. -4 story condo/townhouse project proposed on same lot 2 years later. Same amount of parking but only about 40 units, none of them remotely affordable. Housed neighbours like this project because it's short, no renters, and lots of parking. It passes council, who lament that developers aren't going to solve our housing crisis with projects like these. -Large lot in James Bay steps from downtown and next to a pair of 18-20 story towers and tons of 4-6 story apartments. The proposal is a 12 story purpose built rental building. Neighbours rally against it saying it's not affordable housing, it's not going to help homeless people. Council agrees and kills the project. -A year later the same developer comes back with a new proposal. Partnership with local housing non-profit to make some of the units permanent affordable rentals. Neighbourhood is enraged by this greedy developer trying to look like the good guy by having only 10% of the units affordable. Council agrees the project is still far too big and tall for the area and 20 affordable rentals out of 200 just isn't enough to earn any sort of credit. -A couple years later the lot is sold. A bunch of million dollar each townhouses are proposed. Neighbours love it, council loves it. -An aging seniors complex that has already been empty for years due to the condition of the building. The owners, a publicly funded senior's housing agency, wants to demolish and rebuild the 4 story complex into a new 6 story complex to offer critically needed affordable seniors housing. Would have a senior's community center open to all in the bottom along with a medical clinic. Neighbours rally against the project, 4 stories is ok but 6 is a skyscraper. Since it's a provincial project on provincial land the idea that perhaps they don't need to follow the same development approval process is suggested but the local government rallies, hires lawyers, and creates such a political stink about the big bad province squashing the will of the people that the project is killed. I'm begging the Province to step in and kill city's ability to restrict construction to this degree. We need provincial minimum zoning and provincial housing laws that make it hard to kill projects rather than hard to approve them. Blanket approvals regardless of zoning for anything affordable and extremely streamline approvals for just about anything else that's adding housing where we need it. None of this will cost a thing, it's simply allowing things to happen rather than constantly fighting everything for years out of some misguided idea that the longer you put a project through the political wringer the better it will come out the other end. Of course we could open the floodgates, upzone all of victoria to allow 6 story minimum on every single lot and it would take the market 10+ years to really see things get better. In the short term we also need the government spending big money on actual tax funded affordable housing, they can do this at the same time as simply allowing market housing to be built, they are not in any way mutually exclusive and in fact help each other absorb different types of housing needs. In the meantime we also need incredibly strict new protections for existing renters that makes eviction nearly impossible outside of extreme situations. Your 2nd cousin is moving to town and you want to let her live there? Tough poo poo, you already have a rental agreement with a tenant. You sold the building to someone who doesn't want a renter? Tough poo poo, don't buy a house with a rented basement suite if you're not willing to take over and honour that rental contract. You want to redevelop your little 8 unit apartment building into a 20 unit condo building? Cool, hope you negotiated with the existing tenants to get them to willingly agree to that otherwise you're out of luck.
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Feb 16, 2022 18:27
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Femtosecond posted:I for one am glad the Minister is standing up for our low income landlords of course they more or less explicitly telling the median voter we aren't going to crash the housing prices so you can continue to be "millionaires"
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Feb 16, 2022 18:43
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Baronjutter posted:Victoria housing anecdote report time! Would love to know how she managed that - I mentioned about moving away from Victoria and got told that that wasn't a good enough justification to move to full time remote and I'd have to be in the office at least 3 days a week
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Feb 16, 2022 18:44
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Alctel posted:Would love to know how she managed that - I mentioned about moving away from Victoria and got told that that wasn't a good enough justification to move to full time remote and I'd have to be in the office at least 3 days a week My department has an extremely good director who is very pro remote work and very pro worker. She'll go above and beyond and really fight for us. She kept us all safe when the province was trying to force everyone back to the office. We've also been doing a lot of remote hiring lately too so there's precedent that our office is a mix of local and remote workers. Did you know if you're trying to be representative of the entire province you can't get that if you only hire people who can afford to live in Victoria??
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Feb 16, 2022 18:48
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Baronjutter posted:My department has an extremely good director who is very pro remote work and very pro worker. She'll go above and beyond and really fight for us. She kept us all safe when the province was trying to force everyone back to the office. We've also been doing a lot of remote hiring lately too so there's precedent that our office is a mix of local and remote workers. Did you know if you're trying to be representative of the entire province you can't get that if you only hire people who can afford to live in Victoria?? Ah, you are lucky. I'm in Min of Ed and our DM seems pretty anti-remote work, despite the fact our department is all tech people. My director is 'ok' but won't rock the boat at all. I guess we'll see what happens, I really should move back to the private sector anyway, the provincial benefits are pretty poo poo (no 100% paid sick time what the gently caress)
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Feb 16, 2022 18:58
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Baronjutter posted:Victoria housing anecdote report time! I know things are bad here but nurses make around 90k a year, surely that's enough to cover rent? Top of the government pay scale should be DM, no? There's no way two of them with a 200k gift can't afford a townhouse 
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Feb 16, 2022 19:17
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large hands posted:Top of the government pay scale should be DM, no? There's no way two of them with a 200k gift can't afford a townhouse Well you also have to find a half decent one for sale and then win the inevitable bidding war for it.
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Feb 16, 2022 19:40
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Having income that someone will give you a mortgage on doesn't necessarily make what you would spend that loan on 'affordable'. My ability to secure a mortgage for SFH in Vancouver doesn't make Vancouver SFHs affordable.
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Feb 16, 2022 22:31
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Crow Buddy posted:Having income that someone will give you a mortgage on doesn't necessarily make what you would spend that loan on 'affordable'. I guess what you can afford might not live up to what you'd expect, but two people at the top of the BC civil servant pay scale pull in 5-600k a year. As a percentage of their income a SFH in Victoria should be "affordable", if far less house than they could get for the same money somewhere else.
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Feb 17, 2022 01:41
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What do these people do, coach the provincial hockey team? Why are civil servants being paid $300k?
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Feb 17, 2022 02:15
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It cuts down on corruption to pay top civil servants well. Also someone like a hospital CEO could make orders of magnitude more on the open market, but with a sufficently generous compensation it's possible to hire someone with the requisite skills. This is not to say that no one is being overpaid, but first let's ban private ownership of capital and then worry about whether an EX-01 really deserves 40% more than an AS-05 sometime later on imo.
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Feb 17, 2022 04:18
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Baronjutter posted:Victoria housing anecdote report time! wow crazy how most of these stories tie in directly to Council and/or kneejerk short-term land use planning based upon NIMBY public outcry 
Hubbert fucked around with this message at 05:14 on Feb 17, 2022 |
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Feb 17, 2022 04:52
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evilpicard posted:then worry about whether an EX-01 really deserves 40% more than an AS-05 sometime later on imo. Hey it's like being at a party in Ottawa at university all over again.
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Feb 17, 2022 06:28
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Or perhaps in r/ottawa where it's a travesty that any public servant gets paid more than minimum wage because they don't do anything anyway. This is maybe a relevant time to bring up government boondoggles though. My wife is a federal public servant. She is currently contracted out to a different department than the one she is actually employed by. She also has the potential to be called on to do some Secret-level work by the actual employer department. This setup means that she has 3 different government laptops and none of these systems can talk to each other. As someone in private tech sector, this is an atrocity. We can have someone in Sweden working in a completely different section of the business get temporarily loaned to a team in Seattle and nothing about their setup has to change. They just get given the permissions and access they need. SSC is supposed to be centralized-ish IT but I'm pretty sure their budget needs to be at least tripled or more. Obviously the IT scale of a national government is nearly incomprehensible but it still shouldn't be as bad or slow as it is.
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Feb 17, 2022 15:08
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Throatwarbler posted:What do these people do, coach the provincial hockey team? Why are civil servants being paid $300k? They run a government ministry with thousands of employees.
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Feb 17, 2022 16:20
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I can understand systems being designed to not have any interoperability for national security purposes. It's like unplugging a computer from the internet in order to guarantee you stop all remote exploits.
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Feb 17, 2022 17:05
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Throatwarbler posted:What do these people do, coach the provincial hockey team? Why are civil servants being paid $300k? If you want quality people to do this work, you need to pay well. The reality is that public service executives in Canada are paid a fraction of their private sector counterparts, even at these rates.
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Feb 17, 2022 22:51
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evilpicard posted:It cuts down on corruption to pay top civil servants well. Hospital CEOs in the US are paid at least 10x what the best paid BC health authority CEO is paid. The irony is that if we don't fix housing, we will accelerate the movement into private care because the workers (who can't WFH) won't be able to afford to live anywhere near their jobs and other places will pay more because of the shortage. This will result in a push for people to be able to pay for care since the system won't be able to provide it at all. This is a net bad thing for population health and a net good thing for employees (who will get paid a lot more). I think it's just a matter of time now. Boomers can have their expensive houses but no health care services. Seems apropos. Mandibular Fiasco fucked around with this message at 22:58 on Feb 17, 2022 |
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Feb 17, 2022 22:53
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Mandibular Fiasco posted:If you want quality people to do this work, you need to pay well. The reality is that public service executives in Canada are paid a fraction of their private sector counterparts, even at these rates. When I at university in the UK, I did a summer internship as a software engineer at GCHQ, which is basically the NSA of the UK. The engineers who work there are legitimately world class security experts, the kind of poo poo you get paid hundreds of thousands to do privately. What did these engineers at GCHQ get paid? £25k starting, no more than £45k for a senior engineer max. Not even a year after the end of the internship, I was getting £40k starting in London private. Basically, gently caress public sector jobs, you aren't getting paid poo poo unless you are right at the top of the hierarchy. And no they don't get paid well to 'cut down on corruption', they get paid well because these people are exceptionally good at hoarding resources like most government organizations.
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Feb 17, 2022 23:33
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qhat posted:When I at university in the UK, I did a summer internship as a software engineer at GCHQ, which is basically the NSA of the UK. The engineers who work there are legitimately world class security experts, the kind of poo poo you get paid hundreds of thousands to do privately. What did these engineers at GCHQ get paid? £25k starting, no more than £45k for a senior engineer max. Not even a year after the end of the internship, I was getting £40k starting in London private. Basically, gently caress public sector jobs, you aren't getting paid poo poo unless you are right at the top of the hierarchy. And no they don't get paid well to 'cut down on corruption', they get paid well because these people are exceptionally good at hoarding resources like most government organizations. It used to be a government job paid a living wage and the average worker could have a decent quality of life. I've worked private sector and found the problems I had to solve boring. Public sector has pay that isn't as good, but a great defined benefit pension, interesting problems and huge impact. Most of us who work public sector do so because the work is appealing, but that's starting to wane now that at any level, a decent quality of life is impossible given cost of living. The UK government has never been known for high compensation and the UK has always been a ridiculously expensive place to live.
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Feb 17, 2022 23:45
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Fidelitious posted:This setup means that she has 3 different government laptops and none of these systems can talk to each other. You mean you let things that are considered Secret be on a computer that’s connected to a non-Secret network, so that the watering hole attack from the public internet can pivot onto it? I think I spotted the actual atrocity. The real answer is that the private sector should take separation of domains more seriously and not optimize for the relatively trivial cost of additional hardware (temporarily assigned at that) versus creating huge security issues and making their staff juggle conflicting policies that apply to their different roles.
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Feb 18, 2022 00:09
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Mandibular Fiasco posted:It used to be a government job paid a living wage and the average worker could have a decent quality of life. I've worked private sector and found the problems I had to solve boring. Public sector has pay that isn't as good, but a great defined benefit pension, interesting problems and huge impact. At some point, the 20% contribution to pension is flat out not worth it, considering you could be getting literally 10x more money privately. I never bought the whole "public sector work is more interesting", the stuff I did was admittedly fun and interesting but there are so many, thousands, of businesses you could be working for privately that have an equally or perhaps more engaging experience (and arguably more morally palatable depending on your political viewpoints) that pay orders of magnitude better than govt. Basically if you really really want to do specifically secret government poo poo, then hog wild. Else, forget about it and go do something you can actually talk about on a resume. There is nothing that you can get from your employer that will increase the quality of your life now for you and your whole family than getting boatloads of money today.
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Feb 18, 2022 00:12
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But yeah I interviewed for an ADM-level position with the Ontario government 5 years ago and while comp wasn’t the dominant reason I went in another direction, they were just barely competitive with the private sector even putting a lot of weight on the pension (if you spend the rest of your career with them) and decent (but not exceptional for execs) benefits.
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Feb 18, 2022 00:12
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qhat posted:At some point, the 20% contribution to pension is flat out not worth it, considering you could be getting literally 10x more money privately. I never bought the whole "public sector work is more interesting", the stuff I did was admittedly fun and interesting but there are so many, thousands, of businesses you could be working for privately that have an equally or perhaps more engaging experience (and arguably more morally palatable depending on your political viewpoints) that pay orders of magnitude better than govt. Yeah, it's realistic for my wage in BC to go from $200K to $2M. Get real. Edit: On second thought, tell me where I should apply to get this kind of a raise. You've got my attention! Mandibular Fiasco fucked around with this message at 00:44 on Feb 18, 2022 |
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Feb 18, 2022 00:36
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Mandibular Fiasco posted:Yeah, it's realistic for my wage in BC to go from $200K to $2M. Get real. What's your problem? I wasn't even talking about whatever job you have. A whole bunch of public sector jobs push pension as like the defining thing that makes it worth it, even though highly specialized people are getting paid a tiny fraction of what they get private. Yeah no, a 20% pension on top of 45k is absolutely not worth it when the going rate for that same person private is at least 250k.
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Feb 18, 2022 00:54
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If the dice come up right on equity, which is functionally random but at least you get a ticket, it coming out to 10x your salary over the same time period is a thing that happens.
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Feb 18, 2022 00:56
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Subjunctive posted:If the dice come up right on equity, which is functionally random but at least you get a ticket, it coming out to 10x your salary over the same time period is a thing that happens. I took a 30% paycut when I joined the public sector and then found out that the benefits are worse than anywhere else I've been in the last 15 years. We don't even get 100% paid sick leave lol (despite it being mandated for all employees now at a minimum 5 days) We are all being forced back to the office now in two weeks despite working remotely for 2 years so I think I'm just gonna get another job. I liked the work and felt like I was making an impact, but I also like not having to loving commute for no reason. edit: dang 200k a year in the BC public service is def executive level, even highly skilled technical peeps tap out at like 90k - 100k
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Feb 18, 2022 01:13
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qhat posted:What's your problem? I wasn't even talking about whatever job you have. A whole bunch of public sector jobs push pension as like the defining thing that makes it worth it, even though highly specialized people are getting paid a tiny fraction of what they get private. Yeah no, a 20% pension on top of 45k is absolutely not worth it when the going rate for that same person private is at least 250k. I think it really depends on industry. My wife is in urban planning and went from private sector to public sector and got a 20k raise to 90k, 35 hour work week, one Friday off every pay period, DB pension indexed to inflation and superannuated to best 5 years of career. I also interviewed with the RTB as an arbitrator and there were lots of people that climbed the ladder up to 95k a year, superannuated DB pension etc. with just high school education. These are good jobs for some people.
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Feb 18, 2022 01:20
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My wife and I have had parallel career paths, her in public service and me in restaurant management. She always made more than me until we hit the 70-90 range and we made about the same, and now that we are both in the low 6 figures I make slightly more. I have better benefits but she has a way better pension - grandfathered into the old version that pays 80% of top 5 years with 25 years of service. I get a 4% contribution and a 4% match lol.
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Feb 18, 2022 01:36
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