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Professor Shark posted:I was juts listening to a thing on CBC Radio about the wealth transfer from Boomers to their kids, specifically about cottages and how they were going to cause massive family fights in the near future. That's nothing, a lawyer friend mentioned having to deal with an estate where the cottage was divvied up 24 different ways and there was no agreement on who would get the property or how to sell it because everyone hated each other. This isn't nothing new though, farm property in estates in Ontario and Quebec historically had always been divvied up however many ways and anyone who wanted to continue farming had to buy out all their siblings which could be prohibitively expensive. That's changed somewhat over the last 60-70 years.
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Jun 22, 2016 14:08
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Professor Shark posted:I was juts listening to a thing on CBC Radio about the wealth transfer from Boomers to their kids, specifically about cottages and how they were going to cause massive family fights in the near future. Of the 3 that went in, one got 3/5ths and the other two a paltry 1/5th each. I'm not talking about real estate valuations, they invested into the capital gain taxes owed 
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Jun 22, 2016 15:16
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Professor Shark posted:They had a guy on talking about how he and his siblings divided up their parent's cottage. 2 of the 5 didn't want to go in with their siblings, 1 because they thought it would cause infighting, the other because they thought it was a bad use of money. My wife's uncle bought his siblings out on some cottage a couple years ago. The guy is like 60 years old and retired, and is now stressed out about paying for this cottage. Every time we see him, he brings up how they're worried about money I don't understand boomers.
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Jun 22, 2016 17:31
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triplexpac posted:My wife's uncle bought his siblings out on some cottage a couple years ago. This is every middle class cabin/2nd home owning boomer I've ever known. They act so hard done by because "so the authority where our cabin is, they're forcing everyone to pay 4,000 to redo the gravel roads!!" or "my sail boat's motor has been hosed since last summer and the parts I need to fix it are too expensive and besides the whole thing needs to be painted too but the city owned dock fees keep going up!!" They are entitled to these 2nd homes and boats, it's the government that keeps taxing them to death and crushing their abilities to enjoy the things they deserve. Oh also they'll be a 60 year old couple living in a massive 5br house worth over 2 million but can't possibly downsize in order to have funds to actually enjoy their 2nd home or boat. \/ They also get extremely upset at the government for daring to increase their taxes on assets that have hugely appreciated in value. "I bought that cabin for 40k in 1990, now it's worth 150k and the government wants more taxes?!" Baronjutter fucked around with this message at 17:55 on Jun 22, 2016 |
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Jun 22, 2016 17:41
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Ongoing cost of ownership? What's that? I should be able to buy a $500,000 cottage and never have to pay a cent again!
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Jun 22, 2016 17:44
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Mo' cottage, mo' problems. No cottage, no problems. 
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Jun 22, 2016 18:41
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Professor Shark posted:I was juts listening to a thing on CBC Radio about the wealth transfer from Boomers to their kids, specifically about cottages and how they were going to cause massive family fights in the near future. Do you have a link? Sadly my family is going through the exact same thing right now (with even more complications, because the asset in question is a primary residence) and I'd like to share it with my parents.
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Jun 22, 2016 18:54
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Baronjutter posted:\/ They also get extremely upset at the government for daring to increase their taxes on assets that have hugely appreciated in value. "I bought that cabin for 40k in 1990, now it's worth 150k and the government wants more taxes?!" I know a couple like that. A retired carpenter, he built a big addition, gazebo, 3 car garage with loft and another 2 car sized storage building. All log construction to match the cottage. He moved in there full time and sent out a letter to the cottage association outraged that their 20k cabin was now being assessed at 450k and we should all protest as a group or something.
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Jun 22, 2016 19:00
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Realtors in Langley pose as genuinely interested married couple to acquire houses to flip http://globalnews.ca/news/2778584/couple-who-urged-langley-homeowners-to-sell-fail-to-mention-theyre-realtors/
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Jun 22, 2016 19:06
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blah_blah posted:Do you have a link? Sadly my family is going through the exact same thing right now (with even more complications, because the asset in question is a primary residence) and I'd like to share it with my parents. http://www.cbc.ca/radio/thecurrent/...apart-1.3646954 UnfortunateSexFart posted:Realtors in Langley pose as genuinely interested married couple to acquire houses to flip Jesus loving Christ lol
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Jun 22, 2016 19:14
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Professor Shark posted:http://www.cbc.ca/radio/thecurrent/...apart-1.3646954 Well I don't think anything in that letter is factually inaccurate, I mean you can be a married couple and a realtor. Just as long as you include a picture showing how white you are it's no issue.
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Jun 22, 2016 19:18
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Throatwarbler posted:Well I don't think anything in that letter is factually inaccurate, I mean you can be a married couple and a realtor. Just as long as you include a picture showing how white you are it's no issue. Neither of their names are very Old Stock Canadian 
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Jun 22, 2016 19:21
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Throatwarbler posted:Well I don't think anything in that letter is factually inaccurate, I mean you can be a married couple and a realtor. Just as long as you include a picture showing how white you are it's no issue. They have to disclose they're realtors according to the real estate board. They're already being investigated.
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Jun 22, 2016 19:24
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Who's getting "scammed"? The moron who sells their house five to six figures below market value because they think they're selling it to a nice white couple or to preserve the character of the neighbourhood? I'm all for this poo poo.
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Jun 22, 2016 20:25
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UnfortunateSexFart posted:Realtors in Langley pose as genuinely interested married couple to acquire houses to flip Foreign Investors  My girlfriends parents own a cottage that hopefully at some point down the road that hopefully we inherit. Paying property taxes and transfer are one thing, but NDP in Manitoba were looking at raising property taxes on cottages to at least 5x more than what a similar costed probably would be in the city to raise more money.
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Jun 22, 2016 20:28
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Baronjutter posted:This is every middle class cabin/2nd home owning boomer I've ever known. They act so hard done by because "so the authority where our cabin is, they're forcing everyone to pay 4,000 to redo the gravel roads!!" or "my sail boat's motor has been hosed since last summer and the parts I need to fix it are too expensive and besides the whole thing needs to be painted too but the city owned dock fees keep going up!!" It's funny you mention boats, I was having a great discussion about economic decline on the weekend and hit on the notion that really there's no better example of when poo poo imploded than the gutting of the yacht market in the early 1990's. Post-WWII owning a boat wasn't even a luxury, it was pretty fuckin' affordable everywhere in North America and Europe. The Curve of Time is a classic of BC Literature (highly recommend it, a fantastic window into the culture this province has lost). From the 60's through the 80's, with the perfection of the fiberglass hull, it became cheap, like stupidly cheap. You could own a gorgeous bluewater sailing vessel which would take you anywhere on earth for less than two years salary, and the cost to dock it anywhere was peanuts. Boat manufacturing boomed for nearly three decades. You wanted to mess around with boats? It was as cheap as a hot car. Then they all went bankrupt in the 1990's when things dived economically. Marina fees became exorbitant, the market was glutted with used vessels, and most importantly wages had declined so steadily that it was simply no longer affordable to anyone but the upper middle class and the wealthy.
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Jun 22, 2016 20:36
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DariusLikewise posted:NDP in Manitoba were looking at raising property taxes on cottages to at least 5x more than what a similar costed probably would be in the city to raise more money. Luxury taxes are a good way to go.
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Jun 22, 2016 20:37
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My mom really wants a loving float home. They're house sitting one right now and she's gunning for it even harder now. She has decades of pent-up nostalgia from growing up in Deep Cove and rowing her little dinghy around. And that's great and all but 1) they cost almost as much as a real house, but probably more vulnerable to a price collapse because they don't come with any land. 2) It's cold and humid and there's bugs because it's in a literal swamp. 3) You have to drive to get anywhere. No more walking to the bus loop, or cycling to the rowing club. 4) Motor boats are expensive as gently caress and obviously they'll want a motor boat to go with their barge house. 5) Probably after a couple months she'll realize how much she misses her garden. By that time whoever buys their old house will have it all torn up and ruined and it will now be worth a round million instead of 3/4.
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Jun 22, 2016 20:43
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Rime posted:It's funny you mention boats, I was having a great discussion about economic decline on the weekend and hit on the notion that really there's no better example of when poo poo imploded than the gutting of the yacht market in the early 1990's. Post-WWII owning a boat wasn't even a luxury, it was pretty fuckin' affordable everywhere in North America and Europe. The Curve of Time is a classic of BC Literature (highly recommend it, a fantastic window into the culture this province has lost). From the 60's through the 80's, with the perfection of the fiberglass hull, it became cheap, like stupidly cheap. You could own a gorgeous bluewater sailing vessel which would take you anywhere on earth for less than two years salary, and the cost to dock it anywhere was peanuts. Boat manufacturing boomed for nearly three decades. You wanted to mess around with boats? It was as cheap as a hot car. The worst part is all this awesome hardware is rotting away on trailers / stands because people go 'I KNOW WHAT THIS IS WORTH' and refuse to come down on price on anything and would rather let it fall apart.
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Jun 22, 2016 20:46
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Subjunctive posted:Luxury taxes are a good way to go. There's a fair way to do it without hiking fees from $1600 one year to $9000 the year after Especially for cottages that get literally get no services provided by the government
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Jun 22, 2016 20:55
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DariusLikewise posted:There's a fair way to do it without hiking fees from $1600 one year to $9000 the year after Who cares that they don't get services? Neither does jewelry, it's still a luxury item. Tax the heck out of it. Phasing in a fee increase is the usual thing, did they actually propose it happen overnight?
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Jun 22, 2016 20:58
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There's a house on my childhood street listed for $4.7 million. Sigh. My parents bought there in 1987 for $230k. http://www.rew.ca/properties/R2076700/903-wentworth-avenue-north-vancouver?direction=asc&sort=price&page=1&property_search=399377786 We used to play street hockey every day and have regular block parties. Pretty sure that doesn't happen anymore.
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Jun 22, 2016 21:08
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UnfortunateSexFart posted:We used to play street hockey every day and have regular block parties. Pretty sure that doesn't happen anymore. Why not?
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Jun 22, 2016 21:09
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EvilJoven posted:The worst part is all this awesome hardware is rotting away on trailers / stands because people go 'I KNOW WHAT THIS IS WORTH' and refuse to come down on price on anything and would rather let it fall apart. There's a more middle-middle class neighbourhood near where I live that I often walk through to get to my parents upper/rich neighbourhood and something that stuck out was the amount of huge boats on trailers for sale on poeple's driveways. Decayed and sitting for sale for years, moss growing all over them, still for sale. It also seemed when I was a kid every other kid's dad had a boat. Be it a nice sail boat or a small cabin cruiser or even just a big motor boat for fishing, but there was always a friend with a boat. Now I don't know anyone with access to a boat who isn't rich and all the people who used to have boats had to sell their boats or have them sitting in their yard or driveway rotting under a tarp.
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Jun 22, 2016 21:15
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DariusLikewise posted:Foreign Investors
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Jun 22, 2016 21:20
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cowofwar posted:Property tax is levied municipally. This smells like dumb redneck facebook crap. Property tax levels 5x that in the city? Come on. They raised provincial park cottage land leases
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Jun 22, 2016 21:21
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A lot of "cabin country" was built on cheap undeveloped land where a few dirt roads and power poles was about all that was needed. As a lot of these areas grew into full fledged vacation towns/villages they actually started to need more infrastructure, which resulted in these places daring to ask the cabin owners to pay more. It's either all "city people" subsidize cabin country, or have just the cabin owners pay their share for all the infrastructure related to their cabins and getting to their cabins.
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Jun 22, 2016 21:23
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I can understand the negative attitudes about tax increases on cottage property. In a lot of cases it's resistance from people who basically hand built shacks in the woods and buildings and a septic pit themselves so they could have a cheap permanent little getaway they could use to go fishing/hunting/snowmobiling etc. They're now being saddled with massive property tax increases from douche bag rich folks who insisted that the dirt access road you could barely get a pickup down get widened and paved so they wouldn't get paint chips on their Mercedes.
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Jun 22, 2016 21:31
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cowofwar posted:Property tax is levied municipally. This smells like dumb redneck facebook crap. Property tax levels 5x that in the city? Come on. Sorry, meant the land lease. Subjunctive posted:Who cares that they don't get services? Neither does jewelry, it's still a luxury item. Tax the heck out of it. The province was looking at a 10 year increase with biggest increases happening in the first 2 years. The main issue is the province hasn't increase rates in a really long time and just noticed a few years ago that it would be a great revenue driver. Everyone who owns a cottage knows and agrees the lease rates should go up, but jumping it overnight would gently caress a bunch of people over. For the time being the government backed off on the rate increases and Pallister won't touch them. So everyone can look forward to even bigger increases 8 years from now when the NDP gets power back.
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Jun 22, 2016 21:32
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It's almost like building permanent structures on leased land is a terrible idea!
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Jun 22, 2016 21:34
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What is this lease structure? Did the province lease out a large parcel of land that is managed by some municipal authority or are they a multitude of single dwelling leases?
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Jun 22, 2016 22:03
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lol this loving notion of a cabin what the gently caress do you do at a cabin? jack off into the creek filled with mosquitos
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Jun 22, 2016 22:18
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Throatwarbler posted:It's almost like building permanent structures on leased land is a terrible idea! It's so common in Ontario to lease land off native reserves to build a cottage, boggles my mind. Love stories like this quote:Most of the Hope Bay cottagers refuse to abandon their summer homes without a fight. Some won't even leave the inlet north of Wiarton.
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Jun 22, 2016 22:35
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https://www.youtube.com/watch?v=GVyDovLA2vw
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Jun 22, 2016 22:35
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Subjunctive posted:Why not? Families don't live here anymore, and if they do they don't talk to their neighbours. edit: here's a relevant article about a district concillor who has to rent a basement suite quote:If demographics is everything, Mathew Bond’s age is his distinguishing feature. Bond is unlucky enough to be 32. A councillor with the District of North Vancouver, he is the youngest member of the district council by a comfortable margin. http://vancouversun.com/opinion/columnists/pete-mcmartin-north-van-councillor-bonds-homeowner-hopes-instead-a-licence-to-chill UnfortunateSexFart fucked around with this message at 23:05 on Jun 22, 2016 |
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Jun 22, 2016 22:58
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namaste faggots posted:lol this loving notion of a cabin From what I hear from friends in Ontario: -Get off work early on friday and quickly jump in the car you packed with supplies the night before and race out to your cabin which is a few hours out of the city in good traffic -Get stuck in horrific traffic because everyone else is doing the same thing as you and no one wants to pay for bigger roads to cabin country -Sit around in their cabin doing exactly what they'd be doing at home in the city but with a different view out the window -Maybe paddle a canoe or something out on a lake or sit outside but probably not because they're exhausted and stressed from getting there and just want to relax and moving the canoe to the lake is too much work -Pack up and drive home in horrible traffic -Complain how expensive and stressful it is to keep their cabin
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Jun 22, 2016 23:03
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Subjunctive posted:Why not? They still do block parties. At least here they do...
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Jun 22, 2016 23:23
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UnfortunateSexFart posted:There's a house on my childhood street listed for $4.7 million. Sigh. My parents bought there in 1987 for $230k.   Sup mosquito creek buddy. I can't imagine what going to Handsworth must be like now.
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Jun 22, 2016 23:25
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Baronjutter posted:From what I hear from friends in Ontario: And don't forget using all of your allotted 2 weeks vacation time to go there in the gym-shorts humid middle of summer, where you still get to cook, clean and look after your screaming, mosquito bitten children. But hey, at least for a few scant days you get to pretend you're "outdoorsy" which is something Canadians attach a weirdly huge amount of importance to. peter banana fucked around with this message at 00:01 on Jun 23, 2016 |
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Jun 22, 2016 23:58
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quaint bucket posted:They still do block parties. Yeah, the street my new house is on was full of people wandering around with food and kids chasing each other through the lawns when I visited it for measurements. Looking forward to it.
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Jun 23, 2016 00:01
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