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May 12, 2024 07:35
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- namaste friends
- Sep 18, 2004
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by Smythe
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i'm on gardening leave rn.
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Mar 1, 2018 18:07
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- namaste friends
- Sep 18, 2004
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by Smythe
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you just need to adjust your expectations!!!!!
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Mar 1, 2018 21:25
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- namaste friends
- Sep 18, 2004
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by Smythe
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http://www.cbc.ca/news/canada/british-columbia/bc-speculation-tax-kelowna-1.4556729
quote:
Kelowna mayor says B.C.'s speculation tax could have 'dire unintended consequences'
Finance minister says B.C.-wide tax needed or speculators will move around province
Kelowna Mayor Colin Basran says he wishes the province had consulted him or even provided a warning about the new speculation tax the B.C. government announced in its 2018 budget.
 "It would have been nice," Basran said, adding the lack of notice and consultation on the new measure caused fears in his community and he wants answers.
"What we're hearing right now in the community is there's a lot of concern," he said. "This may have some very dire unintended consequences.
"We need to take some time and make sure we get this right."
Basran says those concerns are loudest from the business community and out-of-towners who have bought property in Kelowna.
They're worried about "disastrous" impacts on the local economy from what Basran says is more like an empty homes tax "which is potentially going to stop people from investing in our economy."
What about student housing?
Basran, who was a realtor before he became mayor in 2014, said many low- and medium-income earners in Kelowna have found it nearly impossible to get into the local housing market.
And while he admits the status quo isn't ideal, he thinks the tax is the wrong way to go.
For example, many students rent houses from landlords who live outside the province. He said some of those homeowners might be subject to the new tax, but it's not clear.
"There's a lot of uncertainty."
Finance Minister Carole James, in a statement, said the government must take action to address "rampant" speculation that has put home prices out of reach for many.
James said by applying the speculation tax to major urban centres throughout B.C., the government won't simply be driving speculators out of one community and into another.
"We want the tax system to be fair for the people that live, work and pay taxes here," she said in the statement.
As for the lack of consultation, James said "it is standard practice for the province to develop tax policies independently and confidentially."
Basran says Kelowna city council is gathering information and holding meetings with the business community to find a way to "tweak" or find alternatives to the tax for his city.
tldr kelowna mayor is a realtor. think tax intended to reduce demand in a housing bubble is unfair to the community
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Mar 1, 2018 21:35
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- namaste friends
- Sep 18, 2004
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by Smythe
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come on that's hyperbole. You only need to spend 250k a year
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Mar 1, 2018 22:20
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- namaste friends
- Sep 18, 2004
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by Smythe
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http://www.macleans.ca/politics/alberta-and-b-c-s-latest-conflict-a-new-tax-that-hits-vacation-homes/
quote:
Alberta and B.C.’s latest conflict: a new tax that hits vacation homes
A measure designed to curb speculation in B.C.’s overheated housing market is having some unintended consequences for Albertan owners.
Marsha Graham, a realtor licensed to sell in Alberta and B.C., lives primarily in Calgary but dreams of the day she can retire to live full-time in her Victoria inner harbour condominium. If she can still afford it.
On budget day, Graham flew home from Victoria and landed to news she was among legions of Albertans who own vacation properties in B.C. subject to a new speculation tax. The levy, if it is applied to out-of-province owners as the budget suggests, will inflate her property tax bill, which was $2,200 last year, by an additional $9,434 by 2019. “You know, that’s a really nice vacation” she says. “It is not an inconsequential amount of money to me and most people.”
The proposed “speculation” tax will apply to Metro Vancouver and Fraser Valley communities on the B.C. mainland; the Victoria and Nanaimo regional districts on Vancouver Island; and the resort communities of Kelowna and West Kelowna, where many neighbouring Albertans own vacation homes. It is designed to force out-of-province owners to contribute more to B.C. government coffers or rent out their homes in cities where rents are sky-high and vacancy rates less than one per cent.
Renting would not suit Graham, who spends about 100 days a year at her Victoria residence. She sits on her strata board, is a member at the local golf club and is friends with many of her neighbours. Graham feels connected to her Victoria community, which is why the proposed speculation tax really stings: “I’m being treated the same as somebody who is not a Canadian, never comes to the community and just leaves the place vacant.”
The proposed tax has already been dubbed a “punishment tax” on chat sites frequented by Albertans with vacation homes in B.C. Many feel it is discriminatory and suspect the motivation behind it is the ongoing oil pipeline fight between the two provinces. It’s easy to see why.
B.C.-Alberta relations have been exceptionally tense of late, despite both provinces being led by NDP governments. Alberta Premier Rachel Notley’s political future depends on landing a pipeline to carry heavy oil from the Alberta oil sands to tankers off the B.C. coast, and she is adamant a proposal by Kinder Morgan to expand its existing pipeline must proceed.
B.C. Premier John Horgan’s tenuous government hangs on support from three anti-pipeline Green Party members. He’s doing what he can to scuttle the pipeline and recently mused he would look for ways to limit the amount of oil currently flowing through B.C. That prompted Notley to ban the imports of B.C. wine, a prohibition that was dropped after Horgan referred his question to court. But the whole thing left Albertans smarting over what they see as B.C.’s parochial disregard for their economic livelihood. “It just seems like B.C. wants the rest of Canada to go away. What would happen if every province acted like that?” asks Allan Roles, a Calgarian who owns land in Kelowna and hopes to build a retirement home soon.
Graham has a similar reaction. “I think Alberta, rightly or wrongly, is often viewed as this kind of big, bad oil place and all we want to do is sell our oil and we don’t care about our environment and communities. But the reality is, it’s not just Alberta that’s dependent on oil.”
B.C. Finance Minister Carole James said the tax does not discriminate against Albertans, telling Maclean’s in an emailed statement that the only motive behind it was easing housing affordability. The levy had been in the works since the government was formed seven months ago, James added, noting: “It doesn’t matter if you’re from Toronto, Montreal, Calgary or overseas, the speculator tax will impact those who choose to speculate or take housing stock off the market.” Experts including Tom Davidoff, a professor at UBC’s Sauder School of Business, give the government the benefit of the doubt. Horgan’s goal is to get re-elected, and imposing a tax for reasons he can’t talk about does not further that goal, Davidoff says.
But the mayors of Kelowna and West Kelowna—who acknowledge the need to address affordability problems in their own cities—worry the new tax will kill the real estate market and push investors to nearby communities like Penticton, B.C., which, for now, are exempt. Elton Ash, regional executive vice-president for Re/Max of Western Canada, says deals are already falling apart, and expresses worry about the optics of the new tax. “What’s the message given to the rest of the world from B.C.?” he says. “We don’t want you to move here.”
Kennith Brandon, who grew up in B.C. but now earns his living in Calgary’s oil and gas economy, says that was the conversation over dinner with friends on a recent Saturday night. Brandon feels a bit guilty about owning a Kelowna vacation home that gets used by his family in the summer but sits empty the rest of the year: “I’m part of the problem.” But Calgarians like him can’t shuck the feeling the new tax is discriminatory. “That’s what people are hurt about.”
holy gently caress macleans, if you're looking to get opposing viewpoints to a speculation tax on real estate, can you do loving better than interview a bunch of loving realtors
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Mar 2, 2018 00:05
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- namaste friends
- Sep 18, 2004
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by Smythe
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gently caress arod
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Mar 2, 2018 02:58
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- namaste friends
- Sep 18, 2004
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by Smythe
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Who is caberham because I'm not reading all those loving words
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Mar 2, 2018 03:51
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- namaste friends
- Sep 18, 2004
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by Smythe
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Lmao I'm not clicking a loving vice link
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Mar 2, 2018 15:02
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- namaste friends
- Sep 18, 2004
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by Smythe
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Lmao 693 sqft
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Mar 2, 2018 16:56
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- namaste friends
- Sep 18, 2004
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by Smythe
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https://www.bloomberg.com/news/articles/2018-03-02/canada-s-economy-slowed-more-quickly-than-expected-in-2nd-half
quote:
Housing
What may be worse is that fourth-quarter GDP figures were exaggerated by temporary factors in housing. Spending on residential structures surged in the last three months of 2017 to an annualized 13.4 percent, the strongest quarterly increase since 2012. The gain was led by stronger-than-expected new home construction, and as buyers rushed to get ahead of tighter mortgage qualification rules that came into effect Jan. 1.
The increase in residential spending was responsible for 1 percentage point of the 1.7 percent growth rate, Statistics Canada said. Residential investment had been a drag on growth the previous two quarters.
cross postin'
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Mar 2, 2018 17:32
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- namaste friends
- Sep 18, 2004
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by Smythe
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ok well I hope y'all are really close and get along with each other.
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Mar 2, 2018 18:54
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- namaste friends
- Sep 18, 2004
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by Smythe
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how the gently caress do people read rfd real estate threads? they're just a bunch of old people shouting fake news
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Mar 2, 2018 19:00
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- namaste friends
- Sep 18, 2004
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by Smythe
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so what
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Mar 3, 2018 04:39
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- namaste friends
- Sep 18, 2004
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by Smythe
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What makes you think these are Canadians
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Mar 3, 2018 15:33
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- namaste friends
- Sep 18, 2004
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by Smythe
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quote:
Richmond realtors petition against homeless housing, says advocate
by Graeme Wood, richmond-news.com
March 2, 2018 04:07 PM
Homeless advocates say they will need to step up their support for a proposed temporary, modular housing complex in the wake of a well-organized attempt — including from realtors — to block its constriction at 7300 Elmbridge Way.
De Whalen, chair of the Richmond Poverty Response Committee, has written to her members and others in the non-profit sector to inform them a group of realtors is petitioning the neighbourhood to block the 40-unit project by BC Housing, which is to be operated by RainCity Housing and Support Society.
“The opposition appears to be in two main areas: Lack of process and safety. But underlying these concerns is a fear that property values will decrease,” said Whalen.
Coun. Harold Steves took to Twitter to point out similar concerns being expressed in Chinese social media. One post Steves mentioned states that if there’s housing for homeless then “list prices plunge.”
But Steves questioned the logic: “But this housing is for homeless people already sleeping in the streets of City Centre. Where do we move the homeless people to?”
Whalen said the petition raises the fact that the housing will be placed on a temporary off-leash dog park.
“The petition actually said dogs should have fair treatment and should not be deprived as they are family members.”
Whalen points out that local residents have a “basic lack of understanding and fear that children/elders/women would become targets of the newly housed.”
She points out that many may not even realize a mental health support group and the Richmond Food Bank service vulnerable and homeless people in the neighbourhood already.
“Homeless people already receive services in the area: Pathways Clubhouse, Food Bank, etc. There is no reason to think residents would be endangered, quite the opposite as wrap-around services would be provided at the site,” said Whalen.
“The Richmond Homeless Count was 70 but our outreach workers know it is about 120. Our homeless population needs housing and deserves this,” said Whalen.
Support or opposition to the five-year shelter can be expressed at LetsTalkRichmond.ca.
http://www.richmond-news.com/news/richmond-realtors-petition-against-homeless-housing-says-advocate-1.23190515
My favourite part here is that the homeless housing will displace dogs from the temporary dog park. This is obviously wrong and insulting. It is rude to suggest Chinese play with their food.
(USER WAS BANNED FOR THIS POST)
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Mar 3, 2018 18:25
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- namaste friends
- Sep 18, 2004
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by Smythe
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http://theprovince.com/opinion/columnists/gordon-clark-ndp-demonstrates-irresponsibility-and-incompetence-with-new-taxes
quote:
Last May, B.C. voters decided they wanted a kinder, gentler sort of provincial government and transferred their support to the NDP and the Greens.
Now that the dust has settled, with an NDP minority government nominally in charge (although with a Green tail wagging an NDP dog), voters should wake up to the fact that, yet again, they’ve elected a gang of bandits.
Consider the NDP’s first budget, delivered last week. It slams British Columbians with $5.5 billion in new and expanded taxes over three years while increasing spending by $5.2 billion.
What is it about that party that its members can’t get it through their heads that most people actually want fiscal responsibility from their governments and that the days of tax-and-spend should be history? As usual, the NDP thinks its sole purpose is to transfer wealth from anyone who is working hard and doing well. As has happened every time they’ve formed government, that attitude is their undoing. The sheep inevitably decide they’ve been sheared enough.
So, again, the NDP has leaped to pass a slew of unprincipled new taxes to pilfer any income or wealth they decide is excessive, regardless of the damage they inflict on individuals or the economy. This is always couched in the rhetoric of “make the rich pay” or, as Finance Minister Carole James self-righteously put it, to ask “people who have benefited from out-of-control housing prices to pay a little more to help ensure all British Columbians can afford a place to live.”
When did that become the job of homeowners? And “pay a little more”? Does she mean the $12,000 a year in extra school taxes she has imposed on retired economics professor David Tha, who lives on a pension and happens to own a Vancouver home he bought decades ago that through no fault of his own has increased in value? There are hundreds, if not thousands, of David Thas out there.
While the finance minister clearly doesn’t care, it must be said that the Mr. and Ms. Thas of B.C. already pay a lot more school and other property taxes because of higher property values. They are already contributing “a little bit more,” to use James’s unctuous words, and don’t deserve an even higher tax burden.
The same is true of the NDP’s new five-per-cent property transfer tax for homes that sell for more than $3 million. (It’s three per cent for lower-priced homes.) If the NDP cared about affordability, why didn’t they eliminate that idiotic tax, brought in as a temporary measure 31 years ago?
Then there’s the 20-per-cent foreign buyers tax and the two-per-cent “speculation” tax on those who own property in B.C. but don’t pay income tax here. You know? A few foreigners, but mostly other Canadians. Both pay income taxes somewhere, and Canada has tax treaties with other countries so people, Canadians included, aren’t forced to pay in two jurisdictions.
Here’s why all of this is unethical, including the NDP view that they have a right to force people through rapacious taxation to rent out their private properties, as if they were public assets.
Canadians support progressive taxation, where wealthier people pay higher taxes. But the NDP — being urged on by bogus university academics who are really taxpayer-funded, highly paid left-wing activists — are applying the same tax principles to assets.
Having taxed income, government should not take a second run at people’s wealth by annually taxing their property, which they have usually acquired through hard work and sacrifice. Unless they want to help people pay their mortgages, or cover their losses when there is a downturn in the housing market, the NDP should not stake a claim to homeowners’ equity.
What is even more stunning is James’s admission that the government didn’t study or model the impact of all these taxes on the housing market before imposing them. I don’t think I’ve ever heard anything more incompetent or irresponsible from a finance minister. Real estate and construction are the two largest contributors to B.C.’s economy, and James just wants to throw the dice?
Finally, her actions will actually hurt many British Columbians by lowering the value of their homes, especially those who recently bought into the market and may find themselves owing more than their properties are worth. There are words to describe people who would do that to others, but they are unprintable.
Gordon Clark is a columnist and editorial pages editor for The Province.
more 'won't someone think of the poor multimillionaire rentiers'
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Mar 4, 2018 03:37
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- namaste friends
- Sep 18, 2004
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by Smythe
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charlie smith the editor of the georgia straight is a developer shill and a little fuckin bitch on twitter
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Mar 4, 2018 05:09
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- namaste friends
- Sep 18, 2004
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by Smythe
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http://www.vancourier.com/opinion/critics-set-hair-on-fire-over-ndp-s-modest-attempts-to-cool-housing-market-1.23189070
quote:
Critics set hair on fire over NDP’s modest attempts to cool housing market
Calm down, the sky is not falling… and neither are Vancouver house prices
My take on the NDP affordable housing strategy: they wimped out.
So I find it amusing to watch while people set their hair on fire over the provincial government’s modest attempts to cool down the real estate market.
The influx of Chinese — excuse me — foreign capital has been at the heart of escalating real estate values here and many places around the globe.
Anne McMullin, the CEO of the Urban Development Institute, was left to sing that same old song: we need more supply to increase affordability. She also predicted that adding or increasing taxes such as the foreign buyers’ tax will only drive prices up.
But the simple fact is, as a number of academics have concluded, and the Globe and Mail’s Kerry Gold has reported, the problem is not supply — it is a matter of the right kind of supply. We produce more new units of housing per person coming into Metro Vancouver than Toronto or Calgary. But it is the kind of supply that appeals to wealthy foreign and domestic speculators not your average working stiff.
If, as Simon Fraser University’s Andy Yan points out, you can only afford a Honda and all the cars in the show room are Lamborghinis, well, welcome to Vancouver.
It seems unlikely that nothing the provincial government does will stop speculation at some level. We are, historically, hooked on land speculation. It has been a Vancouver addiction since before the great fire of 1886. Hustling real estate, flipping property, was imbedded as a socially acceptable activity even before the Canadian Pacific Railway agreed to extend its rail line from Port Moody to Coal Harbour. And the CPR didn’t get that massive land grant — most of the city of Vancouver — from the province in exchange for that rail line extension because they wanted to set up a dairy farm.
Of course, Metro Vancouver isn’t the only place plagued by housing affordability. That why the NDP’s proposed changes extend beyond here and will include Victoria, Nanaimo and bits of the Okanagan. This has caused the mayor of Kelowna, Colin Basran, to have a severe case of the vapors. “There may be some dire unintended consequences,” he gasped to the CBC. He predicted that taxes like the empty home tax “is potentially going to stop people from investing in our economy.”
Exactly. Because that is part of the problem: Housing is treated as a commodity, like a stock share to make a profit off of and not a place to live.
Barrie McKenna, writing in the Globe and Mail. is even more alarmist. He says if B.C.’s Minister of Finance Carol James “gets her hoped for real estate correction, it could push many home owners into default, depress retirement savings and even trigger a recession.” Wow.
Of course it is not declining house prices that would stretch people. Assuming they could handle their mortgage payments when they bought their house, it would be raising interest rates that may cause them grief.
He also argues parents will have less money to pass on to their kids if prices drop. Well, if prices drop, the kids will need less money to buy their little piece of heaven. Of course, he may want to talk with Anne McMullin (see above) about her prediction that prices will actually go up as a result if the NPD’s measures.
In fact, if I have any criticism of the plan introduced in the NDP’s budget last month, it is this: It simply did not go far enough. At the very least they should have banned foreign ownership of residential property in this province.
Last month Premier John Horgan headed out on a trip to Asia as generations of Canadian premiers and prime ministers have done before him, searching for foreign business and foreign capital to be invested here. Before he left he had this to say about banning foreign ownership of residential property as is done in New Zealand: “British Columbia is the gateway to Canada and I don’t believe we should be curbing people from coming here. I’m the child of an immigrant. Virtually everyone I see here is the child of an immigrant.”
Nobody asked about immigrants. But his answer reminds us that one major reason for the housing affordability problem is that governments of every stripe crave real estate-generated foreign capital filling their treasury to the point they are willing to be duplicitous.
@allengarr
Even this Allen Garr gets it completely wrong. If there is a housing correction, the momentum with which the market rushes for the exits to sell will be unprecedented in scale, as much as this bubble defies sense. Those who hang on because they think they're just going to live in their underwater houses forever because they're such awesome stewards of personal finance are going to get hosed with refinancing at the end of their fixed but really variable rate mortgage terms. BC's economy is already 25% FIRE related. All that massive job growth of the last 5 years has come mostly from construction. This province is hosed if the housing market decides to finally correct and it will be chaos.
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Mar 5, 2018 19:03
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- namaste friends
- Sep 18, 2004
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by Smythe
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http://www.cbc.ca/news/canada/toronto/condo-rentals-airbnb-investigation-1.4560076
quote:
Toronto condo owner discovers unit listed on Airbnb behind her back — with more than 70 reviews
Units rented out without owners' consent can violate condo, tenant legislation, experts say
When Sanda Jovasevic agreed to lease her downtown Toronto condo to a tenant in May 2016, she hoped it would be a wise, long-term investment for her retirement.
But after a series of strange incidents the following year, including the unit's front door being left wide open, Jovasevic and her husband learned something was going on behind their back: Someone was repeatedly renting out the unit on Airbnb.
"It was a complete shock to us," Jovasevic said.
A CBC Toronto investigation has found two condo owners whose units were being listed on Airbnb without their consent by a "host" who claims she works for a Toronto property management company.
Legal experts say the scenario shows why condo and tenant legislation needs to keep pace with the rising popularity of home-sharing websites.
"How many people went through our condo without even knowing us?" Jovasevic said. "And what could have happened that we were not aware of?"
Mystery tenant
Jovasevic used a real estate agent in the spring of 2016 to find a tenant for her investment property at 300 Front Street West, a highrise just north of the CN Tower in the heart of Toronto's entertainment district.
She said the agreement was brokered between her real estate agent and another agent, and Jovasevic and her husband never actually met the tenant who signed the lease. But the tenant, a man named Shripal Banker, did provide a reference letter stating that he worked as an accountant for a Toronto property management company called Zahra Properties.
For more than a year, the Jovasevics assumed all was well with their tenant, who paid $2,100 each month in rent.
But in 2017, Jovasevic started to worry. In February that year, she got a call from her building concierge saying the unit's door was wide open.
Then, in November, the concierge called to inform her of a noise complaint and said two Airbnb guests were staying in the unit. The concierge also told Jovasevic the unit had been listed in their system as an Airbnb condo the entire time.
Jovasevic started doing her own research and found her condo's listing on the website — and it had more than 70 reviews dating back to 2016.
Jovasevic told her tenant she was going to inspect the unit. But she said Banker didn't show up at the inspection on Nov. 7. Instead, a woman who said she was a representative for Zahra Properties — the same company listed as the tenant's employer — came in his place. In emails provided by Jovasevic, the same woman identified herself as a property manager with Zahra Properties and referred to Banker as her "client."
During the inspection, Jovasevic took photos of the unit's empty closets and fridge, and the dated checklists she believes were left by cleaning staff. Jovasevic said it was "obvious" the unit was being used for a home-sharing business, but the woman denied it.
Later that month, Jovasevic entered the unit again for another inspection, and instead of Banker, she found a woman from the U.S. who said she was renting the unit through Airbnb for $266.17 US for a two-night stay.
Jovasevic had seen enough. She issued a notice to Banker to end his tenancy that month, writing that her condo was "rented out for the short-term rentals without [her] consent."
Meeting 'Sofia'
The Airbnb listing for Jovasevic's condo has since been removed. But until recently, it was among more than 10 listings from a verified Airbnb host named "Sofia" whose units have roughly 700 reviews combined. CBC reached out to "Sofia" through Airbnb but has not received a response.
Prior to its recent removal, CBC attempted to book a one-night stay at Jovasevic's condo through the posting listed on Airbnb. "Sofia" confirmed the CBC journalist's booking and asked to meet at a nearby grocery store on Feb. 27.
At the meeting spot, a woman who identified herself as "Sofia" and said she was a representative for Zahra Properties said the unit wasn't available, instead taking the journalist to another condo building nearby on York Street, where she provided keys to a unit.
CBC Toronto located the Airbnb listing for the unit, which has since been taken down. After being approached by CBC, the owner listed on property records said she was not aware the unit was ever listed on the website. She said she believed a long-term tenant named Shripal Banker, who referred to himself on his lease agreement as an accountant with Zahra Properties, was living in the unit.
Afzal Nathoo operates Zahra Properties and said the company only manages rental properties owned by its "principals, family and friends."
"It does not manage properties owned by third parties, outside this select group of owners," Nathoo said. "No property therefore, is managed without the knowledge and the consent of the owner in respect of its use or any other matter."
When CBC shared the addresses and unit numbers for the two condos with Airbnb listings, Nathoo said his company does not represent tenants at either location but confirmed that his employee, Shripal Banker, "has been participating in renting condominiums in Airbnb."
Nathoo also said Banker is not affiliated with Zahra Properties, but is an employee of Nathoo's gas station.
"I have made it clear to Mr. Banker that his rental activities are not acceptable and he has terminated all rental activity," Nathoo said.
Banker declined to speak to CBC.
Law 'struggling to catch up'
Legal experts say certain types of home-sharing situations can potentially violate Ontario legislation and condo bylaws.
"It all depends on the condominium documentation," said Denise Lash, founder of Lash Condo Law. While some condos don't allow home-sharing services, others have policies supporting short-term rentals, which Jovasevic said is the case in her building.
Lawyer Caryma Sa'd said the Residential Tenancies Act also applies, and landlords would be within their rights to try to end a tenancy if they discovered Airbnb rentals were happening without their knowledge.
"The law is always struggling to catch up," she said.
Short-term rentals have long been a "legal grey area," echoed Thorben Wieditz, a spokesperson with Fairbnb, a national coalition of organizations focused on establishing fair regulations for short-term rentals.
But Wieditz hopes upcoming regulations in Toronto — similar to those in Vancouver and New York — will change that.
In December, city council voted to require short-term rental operators to obtain a licence, a change that will come into effect later this year. Homeowners or renters will also be limited to offering their primary residence.
Even now, when hosts sign up on Airbnb "they must certify that they will comply with local rules before they list their space," company spokesperson Lindsey Scully said in a statement.
"We also have a hosting responsibilities page that reminds people to check their local laws and regulations and includes additional information and resources."
Landlords can also share concerns about specific listings with Airbnb. Scully said the platform treats "each case seriously."
'Inspect your units'
On Friday, Jovasevic walked around her now-empty condo unit, which has broken stove knobs and carpet stains from what she believes was a regular parade of Airbnb tenants coming and going.
She said Banker has officially moved out, though she doesn't believe he ever actually moved in.
But her fight isn't over yet. Later this month, she will face off with the tenant she never met at a joint Landlord and Tenant Board hearing. Jovasevic is making the case that Banker was renting the unit out without her knowledge. She said he's countered with his own claims that she harassed him and disrupted his enjoyment of the unit.
Still, Jovasevic plans to rent the unit out again — she'll just do things differently next time.
She offered a cautionary message to fellow landlords: "Inspect your units, now."
how disruptive
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Mar 5, 2018 21:26
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- namaste friends
- Sep 18, 2004
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by Smythe
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I don't know what church you're talking about but my dad has been involved with his congregation's redevelopment plans over the years and here's the problem: anglican church congregations pretty much all over the lower mainland are dying except for the one downtown. Some churches, like the one in New West are sitting on a goldmine of real estate (for some loving reason) and the churches are in disrepair. That church in NW actually doesn't have bathrooms connected to the church building itself and it's a fuckin cathedral. Anyway, some archbishops around the joint see condo towers as the salvation of their dioceses and are 'PARTNERING' with various developers to build big fuckin towers to replenish their church coffers while preserving their churches. I'm guessing some parishes aren't so lucky so their churches are being straight up replaced with LUXURY PREMIUM SKYHOMES NI HAO MAH
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Mar 6, 2018 06:04
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- namaste friends
- Sep 18, 2004
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by Smythe
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This is Oakridge United, at 41st between Cambie and Oak Street. And you are right, the congregation is dying (literally) because young people aren't anywhere near to replenish (to say nothing of the disconnect of the young to organized religion, which is a whole other story...I'm mean seriously people, most of it is civics and how to be a good person...it's not awful to hear messages to be kind to each other, support one another, and try to help the less fortunate). We went to a service there once and the people there were so excited to have a young couple attending, they asked us when we'd be back. I felt quite sad because they wanted to see life in their community once more. The church building, however, was impeccably maintained and absolutely spectacular to look at. The interior was quite something as well.
Why we need more crates in the sky is beyond me. Let's just sell the whole province off to China and see how that works out. In fact, since that's such a great idea, I recommend that either CI or me are elected dictator-for-life just like Xi Jinping and we'll really get on with things here in Canada and turn this place around (or not, because who cares, right?)
I go to ANGLICAN church (get hosed catholics) twice a year because I'm too lazy to go more often. Posting this to say that I support your views about what a good liberal organized religion can teach about civics and being a good person.
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Mar 6, 2018 06:21
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- namaste friends
- Sep 18, 2004
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by Smythe
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To busy working to pay off luxury German car lease to go to church
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Mar 6, 2018 06:50
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- namaste friends
- Sep 18, 2004
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by Smythe
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Get hosed Toronto ~equity builders~
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Mar 6, 2018 16:42
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- namaste friends
- Sep 18, 2004
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by Smythe
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real estate always goes up y'all
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Mar 6, 2018 17:34
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- namaste friends
- Sep 18, 2004
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by Smythe
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https://www.bloomberg.com/news/articles/2018-03-06/trump-trade-threats-will-likely-amplify-poloz-s-caution-on-rates
quote:
Trade Threats Will Likely Amplify Poloz’s Caution on Rates
Bank of Canada Governor Stephen Poloz’s preoccupation with uncertainty probably means a longer pause on interest rates, in a world of fraying trade alliances and volatile markets.
The central banker is expected to leave his benchmark borrowing cost unchanged at 1.25 percent at a rate decision Wednesday at 10 a.m, according to all 21 economists surveyed by Bloomberg News, with forward contracts pricing in just a 13 percent chance of a hike.
Investors have been paring back the odds of rate hikes in recent weeks on the back of a run of soft economic data, global market turmoil and growing geopolitical concerns that are expected to heighten Poloz’s already-elevated levels of caution with tightening monetary policy further.
“This one is likely to be a maintenance statement with a more cautious spin that buys time to assess developments,” Derek Holt, an economist with Bank of Nova Scotia, said in a report. “There are some rather compelling reasons to pause the hike cycle.”
These include, according to Holt, uncertainty around trade policy that has worsened with President Donald Trump’s threats to impose tariffs on steel and aluminum, weaker growth numbers, and sluggish investment plans by businesses.
Poloz’s next interest rate increase -- which would be the fourth in the rate-hike cycle -- isn’t being fully priced in until July, swaps trading suggests. A month ago, investors were pricing in at least one increase by May, with a good chance of an April hike.
Investors are expecting the Federal Reserve to outpace the Bank of Canada on rate hikes over the next 12 months, with at least three hikes in the U.S. over that time versus two for Canada. The rate divergence has been a drag on the Canadian dollar, which has lost 4 percent since Poloz’s last rate hike on Jan. 17.
Analytical Lens
Growing geopolitical concerns could be particularly meaningful to a central banker like Poloz, who has put uncertainty at the forefront of his economic analysis.
That focus was on display last week when Poloz traveled to London to receive an award from Central Banking, a trade publication. In his acceptance speech, he chose to highlight the Bank of Canada’s efforts to be “open and honest” about uncertainty in its policy making.
Poloz’s narrative boils down to something like this:
There is more uncertainty in the world today.
This heightened uncertainty is the sort you can’t measure or estimate.
Geopolitics is an important factor, but so is growing uncertainty about the reliability of models to prescribe policy.
Because of this, policy makers are injecting more “realism” and judgment into the narrative and nudging the decision-making process toward something that looks less like a mechanical exercise akin to engineering and more like risk management. More art, less science, in Poloz’s words.
This is important since the Bank of Canada’s “mechanical” models are probably telling it to raise interest rates faster than it has, as the country runs up against capacity.
Gradualism is simply the inevitable outcome of a world view that puts a greater emphasis on uncertainty.
“We have been working on the theme of uncertainty since the global financial crisis revealed the limits of our models and our knowledge,” Poloz said in his speech. “And we have learned that it is far better to be open and honest about the uncertainty we face, as well as how we deal with it, rather than to just assume the uncertainty away and project a false sense of confidence.”
Track Record
Not everyone is fully bought into Poloz’s focus on risk management. One critique is that the Bank of Canada’s emphasis on uncertainty generates blurry economic analysis, gives officials too much discretion in setting policy and makes it difficult for market players to pin down intentions and form expectations. In other words, it could end up fueling “policy uncertainty” and result in unnecessary volatility.
Poloz himself has acknowledged the economic literature that deals with uncertainty is undeveloped. But that hasn’t necessarily made the governor any more difficult to read.
For example, a cursory analysis of forward contracts suggests investors did a better job predicting Poloz’s policy changes six months forward than had been the case with former Governor Mark Carney’s three hikes in 2010 and a series of rate increases by former Governor David Dodge between 2005 and 2007.
A gradual approach to policy, as a matter of course, means the scope of misreading him is smaller. Slow and steady is always a good bet when it comes to Poloz.
gently caress you stephen
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Mar 6, 2018 18:11
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- namaste friends
- Sep 18, 2004
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by Smythe
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https://www.bloomberg.com/news/arti...-twitter-canada
quote:
RBC Chief Sounds Alarm on Flood of Foreign Cash in Canadian Real Estate
Foreign inflows are distorting Canada’s already constrained housing market and aren’t the kind of investment the country needs, the chief executive officer of Royal Bank of Canada said.
“We do not need foreign capital using Canadian real estate as a piggy bank," David McKay, said Tuesday at a bank conference in New York hosted by the Toronto-based lender. “If capital is coming in to sit in a home, unproductively, and is distorting your marketplace and the livelihood of your residents -- no thank you."
McKay, whose bank is Canada’s largest mortgage lender, says he’s supportive of government taxes and other measures targeting foreign buyers, as well as other regulatory efforts to cool the country’s housing market. He’s seeing some impacts from these rule changes, with “a little bit more healthy dynamics."
“Demand is down and house prices have been stable," McKay said. “There’s still intensive bidding, but to a lesser degree."
Toronto, Canada’s biggest housing market, has been correcting over the past few months amid a slew of regulations put in place to steady booming prices and increasing debt. Toronto home sales fell 35 percent in February from a year earlier, marking the weakest month of sales in nine years, though benchmark prices were up 3.2 percent on the year, according to data released Tuesday by the Toronto Real Estate Board.
Added Gasoline
Canada’s housing market has been on edge this year as mortgage guidelines came into effect, making it harder for prospective buyers to qualify for loans.
A surge of foreign money into Canadian housing had been adding “gasoline” to markets in Vancouver and Toronto, McKay said. He identified a "cocktail of factors" that led to unconstrained growth of Toronto and Vancouver home prices, including a growing population, land constraints, lack of supply and highly stimulative interest rates that caused people to funnel more disposable income into their homes in addition foreign money.
you don't say rear end in a top hat
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Mar 6, 2018 18:31
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May 12, 2024 07:35
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Mar 1, 2018 18:04
captains of industry
