HomeDiagramsDatabaseMapsForumSkyscraper Posters
     

Go Back   SkyscraperPage Forum > Regional Sections > Canada

Reply

 
Thread Tools Display Modes
     
     
  #8421  
Old Posted Feb 10, 2018, 3:28 AM
milomilo milomilo is offline
Registered User
 
Join Date: Dec 2013
Location: Calgary
Posts: 2,671
Quote:
Originally Posted by geotag277 View Post
That's an extremely limited pilot. For reference, Uber was launched in 2009, it only made it to Calgary in 2017. That's 8 years for a relatively innocuous non-controversial system which required very few laws. Uber is still not wide spread. It's not even in Vancouver.

My 50 year target is based on widespread adoption that the possibility it will be illegal for non-self driving cars to even be on the road.

Saying self driving driverless cars will be widespread within 10 years is a huge stretch. I wouldn't say it's impossible, but 50 years is more likely.
This I agree with - people have very optimistic predictions of the future, tending to overstate the power of technology and vastly understate the importance of regulation. It's a guarantee that the image of the future we envision will be completely different to what it actually becomes.
Reply With Quote
     
     
  #8422  
Old Posted Feb 10, 2018, 4:09 AM
sunsetmountainland sunsetmountainland is offline
Registered User
 
Join Date: Jun 2011
Location: Another great post taking place from the best place on earth!
Posts: 1,147
Great study from CMHC

Quote:
When asked what findings surprised him in what CMHC is billing as the “the most thorough examination of house price patterns ever completed in Canada,” report author and CMHC deputy chief economist Aled ab Iorwerth said it was the clear correlation between rising incomes and higher home prices.
Examining Escalating House Prices in Large Canadian Metropolitan Centres, released February 7, showed disposable income in Vancouver increased 36.2% from 2010 to 2016 while it increased 19.2% in Toronto, the highest in Canada. Average housing prices increased 48% and 40%, respectively, in the two cities, also the highest in Canada.

“Local wealth proved an important factor in the home price increases,” ab Iorweth said.

He added that the wealthier cities also tend to attract more immigrants, which places higher demand on the housing supply.

B.C. welcomed 203,365 permanent residents in the six-year period of the study, while Ontario took in 546,620. These are the highest immigration flows of any provinces and account for 60% of Canada’s total immigration during the period.

On the foreign-home buyer issue, ab Iorweth said it was not the number of foreign buyers, which he said make up less than 5% of sales in the cities studied, but the “perception that there were a lot of foreign buyers” that helped drive housing prices higher.

The study also pointed to a “low supply response” for increased house prices, especially in Vancouver.

“While it is true that the supply response in Toronto and Vancouver has been significantly weaker than in other Canadian metropolitan areas, we do not fully know why this is the case,” said Evan Siddell, president and CEO of CMHC.

“There continue to be data gaps, and we need to work more closely with jurisdictions at all levels to fully understand what is happening.”

CMHC’s report, however, suggests some measures to boost housing supply, either of which would likely be a hard sell.

One idea floated is “sunset clause” penalties based on length of time an investor held land before it was released for new homes.

In an email exchange with BIV following the report’s release, CMHC spokesman Charles Sauriol said, “ Effectively applied taxes could include taxes based on whether or not a developer completed a proposed project – in effect encouraging more rapid development of land. Holding land vacant generates negative consequences for cities and citizens by delaying the tax revenue associated with land improved with structures and additions to housing supply.”

Another new concept is potential incentives to municipalities who move quicker to facilitate the construction of higher-density housing.

“This is put forward as a useful area to explore to counter NIMBY [not in my backyard] sentiments with financial benefits, rather than a fully designed scheme at this point,” Sauriol explained. “Those benefits might be some form of grants from provincial or federal treasuries to municipalities to reward more intensive land usage and containment of sprawl.”

As ab Iorweth confirmed, CMHC may have to ”dig deeper” to find the real causes – and any potential cure – for escalating house prices in big-city Canada.
https://biv.com/article/2018/02/cmhc...st-home-supply
Reply With Quote
     
     
  #8423  
Old Posted Feb 10, 2018, 6:42 AM
ssiguy ssiguy is online now
Registered User
 
Join Date: Mar 2006
Location: White Rock BC
Posts: 5,747
Robertson could have done a lot but instead treated the issues of sky high real estate, money laundering, reno-victions, and homelessness with supreme indifference.

That empty housing tax should be 10% not 1% and he could have brought it in years ago. He could have put an immediate stop on all housing destruction unless it was being replaced with higher densities like condos or even townhomes. That would have help stop people buying and flipping houses and would have kept rentals in those homes going to say nothing of stopping the wholesale destruction of Vancouver's history. As it stands right now nearly any building in Vancouver can be torn down with just a simple application form and a $5000 which is nothing to people buying houses with cash to launder their money. $5000 is literally not even their kids weekly allowance. He could have raised that to $500,000 with an exemption only for being replaced with higher densities with a large component of affordable rental stock required and the for-sale housing itself only being eligible for the exemption if the buyers were either landed immigrants or citizens.

Robertson could have done a LOT to stop this criminal activity and commodification of the city but instead did everything in his power to keep it going.
Reply With Quote
     
     
  #8424  
Old Posted Feb 10, 2018, 6:48 AM
sunsetmountainland sunsetmountainland is offline
Registered User
 
Join Date: Jun 2011
Location: Another great post taking place from the best place on earth!
Posts: 1,147
Quote:
Originally Posted by ssiguy View Post
Robertson could have done a lot but instead treated the issues of sky high real estate, money laundering, reno-victions, and homelessness with supreme indifference.

That empty housing tax should be 10% not 1% and he could have brought it in years ago. He could have put an immediate stop on all housing destruction unless it was being replaced with higher densities like condos or even townhomes. That would have help stop people buying and flipping houses and would have kept rentals in those homes going to say nothing of stopping the wholesale destruction of Vancouver's history. As it stands right now nearly any building in Vancouver can be torn down with just a simple application form and a $5000 which is nothing to people buying houses with cash to launder their money. $5000 is literally not even their kids weekly allowance. He could have raised that to $500,000 with an exemption only for being replaced with higher densities with a large component of affordable rental stock required and the for-sale housing itself only being eligible for the exemption if the buyers were either landed immigrants or citizens.

Robertson could have done a LOT to stop this criminal activity and commodification of the city but instead did everything in his power to keep it going.
I feel very badly for you and I am sorry for your problems!
Reply With Quote
     
     
  #8425  
Old Posted Feb 10, 2018, 7:21 AM
ssiguy ssiguy is online now
Registered User
 
Join Date: Mar 2006
Location: White Rock BC
Posts: 5,747
I feel sorry for myself as well.

I really do have to get over my concern for the homeless, children living in poverty, and the destruction of the city's heritage. Conversely I should be more empathetic to people who evict people from their homes so others can launder their money and be more sensitive to the needs of our criminal organizations, and people who feel that none of their income should be reported so they can live in Canada free of charge while simultaneously taking advantage of our social, health, and education services.

If only I could do these things then I could end up just like you.........a person devoid of a social conscience, indifferent to the suffering of others, and accepting of criminal behavior. But alas I'm not at all like you, just lucky I guess.
Reply With Quote
     
     
  #8426  
Old Posted Feb 10, 2018, 7:37 AM
sunsetmountainland sunsetmountainland is offline
Registered User
 
Join Date: Jun 2011
Location: Another great post taking place from the best place on earth!
Posts: 1,147
Quote:
Originally Posted by ssiguy View Post
I feel sorry for myself as well.

I really do have to get over my concern for the homeless, children living in poverty, and the destruction of the city's heritage. Conversely I should be more empathetic to people who evict people from their homes so others can launder their money and be more sensitive to the needs of our criminal organizations, and people who feel that none of their income should be reported so they can live in Canada free of charge while simultaneously taking advantage of our social, health, and education services.

If only I could do these things then I could end up just like you.........a person devoid of a social conscience, indifferent to the suffering of others, and accepting of criminal behavior. But alas I'm not at all like you, just lucky I guess.
I want to be helpful. I understand things do not always go the way you wish. With all the times you have been out there to help out the real facts! Sometimes your own emotions have gotten in the way! I mean we have all seen it, it has be very obvious from the early years in you time in British Columbia.
Salt spring island guy is what we all know you as, your honesty and understandings of the province of British Columbia has been one of your own honest interesting artifacts of truth.
The longings as well as love for Gregor_Robertson is well known it is only now that the real truth is out!

Last edited by sunsetmountainland; Feb 10, 2018 at 8:01 AM.
Reply With Quote
     
     
  #8427  
Old Posted Feb 10, 2018, 9:00 PM
someone123's Avatar
someone123 someone123 is offline
hähnchenbrüstfiletstüc
 
Join Date: Nov 2001
Location: Vancouver
Posts: 19,673
Quote:
Originally Posted by sunsetmountainland View Post
The original report is here: https://www.cmhc-schl.gc.ca/odpub/pdf/69262.pdf

The report says that disposable income in Vancouver was up 11.5% and in Toronto it was down 1% from 2010-2016 (p. 62). Your article says this:

Examining Escalating House Prices in Large Canadian Metropolitan Centres, released February 7, showed disposable income in Vancouver increased 36.2% from 2010 to 2016 while it increased 19.2% in Toronto, the highest in Canada.

If you search the report document you won't find 36.2% anywhere. And is this wording implying that 19.2 > 36.2?

In both cities housing prices went up by over 40% during this period of modest income gains.
__________________
flickr
Reply With Quote
     
     
  #8428  
Old Posted Feb 15, 2018, 12:39 AM
whatnext whatnext is online now
Registered User
 
Join Date: Feb 2009
Location: Vancouver
Posts: 8,797
Macleans continues to give great coverage on how offshore buyers coupled with developer and politicians' greed ruined Vancouver:

...Three years ago, <Andy> Yan was anxious to get a handle on the role foreign capital was playing in Vancouver’s weirdly convulsing real estate market. At the time, Yan’s main gig was his work as an urban planner with Bing Thom Architects, on contract as an urban planner. When Yan published the results of his research in November, 2015, it came as a shock, for two main reasons. It seemed to conclusively prove what everybody knew but nobody was supposed to say out loud. And it broke a taboo that was enforced so absurdly that Vancouver mayor Gregor Robertson resorted to dismissing Yan’s research as racist.

Yan found that buyers with “non-Anglicised Chinese names” had picked up two-thirds of 172 houses sold over a six-month period beginning in September 2014 in Vancouver’s posh west side neighbourhoods. Contrary to public perception, however, the buyers weren’t just showing up with “bags of cash” to make their buys. Some of Canada’s biggest banks were in on it. Roughly 80 per cent of the deals involved a mortgage, and half of the mortgages were held by two banks – CIBC and HSBC...

...Vancouver’s “condo king” Bob Rennie—a primary financial backer of Robertson’s NDP-tilting Vision Vancouver team and also the chief fundraiser for the NDP’s adversaries in Christy Clark’s Liberals—had cultivated a particularly brazen habit of it. “So you had these whispers about racism being used to shut down a dialogue about affordability and the kind of city we want to build here,” Andy Yan explained. “It’s a kind of moral signalling to camouflage immoral actions. It’s opportunism, and it’s a cover for the tremendous injustices that are emerging in the City of Vancouver and across the region. It’s a weird Vancouver thing. It’s very annoying. It’s kale in the smoothies or something.”...


http://www.macleans.ca/economy/reale...tate-disaster/
Reply With Quote
     
     
  #8429  
Old Posted Feb 15, 2018, 6:10 PM
bless-u's Avatar
bless-u bless-u is offline
True North
 
Join Date: Jan 2018
Location: Ottawa
Posts: 118
The real housing market in Vancouver is messier than I imagine.

Quote:
Andy Yan, the analyst who exposed Vancouver’s real estate disaster
Hated by politicians, speculators and money-launderers, Andy Yan’s data on Vancouver housing has earned him the right to say, ‘I told you so’
http://www.macleans.ca/economy/reale...tate-disaster/
__________________
"Canada is Free and Freedom is its Nationality" -Wilfrid Laurier
Reply With Quote
     
     
  #8430  
Old Posted Feb 15, 2018, 6:45 PM
Pinion Pinion is offline
See ya down under, mates
 
Join Date: Jul 2007
Posts: 5,168
.

Last edited by Pinion; Apr 18, 2018 at 1:58 AM.
Reply With Quote
     
     
  #8431  
Old Posted Feb 15, 2018, 6:48 PM
bless-u's Avatar
bless-u bless-u is offline
True North
 
Join Date: Jan 2018
Location: Ottawa
Posts: 118
Quote:
Originally Posted by Pinion View Post
Got my Australian visa today. I may be going from the frying pan to the fire, but at least it won't rain every day while I wait for the bubble to pop!
Australia? Are you abandoning your country?
__________________
"Canada is Free and Freedom is its Nationality" -Wilfrid Laurier
Reply With Quote
     
     
  #8432  
Old Posted Feb 15, 2018, 6:49 PM
geotag277 geotag277 is offline
Registered User
 
Join Date: Nov 2013
Posts: 5,091
Quote:
Originally Posted by Pinion View Post
Got my Australian visa today. I may be going from the frying pan to the fire, but at least it won't rain every day while I wait for the bubble to pop!
Nice! Those Australian visas can be a bit tricky to get cleared. A friend of mine is still waiting after a few years.

While we have clashed on the forum, I hope you continue to contribute and check in. You are trading rain for some pretty killer spiders and snakes
Reply With Quote
     
     
  #8433  
Old Posted Feb 15, 2018, 6:52 PM
Pinion Pinion is offline
See ya down under, mates
 
Join Date: Jul 2007
Posts: 5,168
.

Last edited by Pinion; Apr 18, 2018 at 1:59 AM.
Reply With Quote
     
     
  #8434  
Old Posted Feb 15, 2018, 6:54 PM
Pinion Pinion is offline
See ya down under, mates
 
Join Date: Jul 2007
Posts: 5,168
.

Last edited by Pinion; Apr 18, 2018 at 1:58 AM.
Reply With Quote
     
     
  #8435  
Old Posted Feb 15, 2018, 6:55 PM
bless-u's Avatar
bless-u bless-u is offline
True North
 
Join Date: Jan 2018
Location: Ottawa
Posts: 118
Quote:
Originally Posted by Pinion View Post
I see it more as going home, since I grew up there. Vancouver is my birthplace, but I left before my first birthday and only came back because my grandma was paralyzed by a stroke and needed help.
Okay, so you've got a good excuse. Safe trip and good life in Australia then.
__________________
"Canada is Free and Freedom is its Nationality" -Wilfrid Laurier
Reply With Quote
     
     
  #8436  
Old Posted Feb 15, 2018, 7:03 PM
whatnext whatnext is online now
Registered User
 
Join Date: Feb 2009
Location: Vancouver
Posts: 8,797
Quote:
Originally Posted by Pinion View Post
Got my Australian visa today. I may be going from the frying pan to the fire, but at least it won't rain every day while I wait for the bubble to pop!
You may indeed be going into the fire (pics from my visit to Melbourne) but good luck anyway!

[IMG]melbourne3 by whatnextyvr, on Flickr[/IMG]
melbourne3 by whatnextyvr, on Flickr
https://www.flickr.com/photos/597504...posted-public/

[IMG]melbourne1 by whatnextyvr, on Flickr[/IMG]
Reply With Quote
     
     
  #8437  
Old Posted Feb 15, 2018, 7:50 PM
Pinion Pinion is offline
See ya down under, mates
 
Join Date: Jul 2007
Posts: 5,168
.

Last edited by Pinion; Apr 18, 2018 at 1:59 AM.
Reply With Quote
     
     
  #8438  
Old Posted Feb 16, 2018, 12:52 AM
whatnext whatnext is online now
Registered User
 
Join Date: Feb 2009
Location: Vancouver
Posts: 8,797
After getting nailed by Macleans for shovelling out loans to foreign students and housewives for Vancouver mansions, CIBC quietly cancels its Foreign Income Program:
https://betterdwelling.com/cibc-kill...tate-harder/#_

The old system at CIBC was amazingly easy for foreign buyers and international students to get a mortgage. If you had a deposit above 35%, it was good enough to get an uninsured mortgage, without your income being verified in many cases. For the bank to be at risk of a loss, the buyer would have to immediately stop paying their bills, and prices would have to decline by 35%. A highly unlikely scenario, in my opinion. This process wasn’t a secret, some branches even had signs advertising it...

...The new income verification system is much more strict, to comply with B-20 guidelines. The internal document sent to mortgage advisors, walks them through the new system. The new requirements outlined include obtaining:

The client’s T1 General, complete with foreign income stated (line 104).
CRA Form T1135, a.k.a. a Foreign Income Verification Statement, showing assets.
Companies using income will require a CRA Form T1134, Information Return Relating To Controlled and Non-Controlled Foreign Affiliates.
A Canadian credit bureau report, and a foreign credit bureau report to confirm any foreign liabilities...


https://betterdwelling.com/cibc-kill...tate-harder/#_
Reply With Quote
     
     
  #8439  
Old Posted Feb 16, 2018, 4:02 AM
Dengler Avenue's Avatar
Dengler Avenue Dengler Avenue is offline
Registered User
 
Join Date: Sep 2017
Location: Vancouver/Waterloo
Posts: 874
Quote:
Originally Posted by Pinion View Post
Yeah I know it's a problem there too. I rarely get good luck without bad luck following shortly after, so Oz will probably ban foreign ownership soon.
The thing is, can it?
__________________
Highway expansion (especially going from undivided 2 lanes to divided 4 lanes), practically speaking, is all about political will, not AADT.
Reply With Quote
     
     
  #8440  
Old Posted Feb 16, 2018, 1:48 PM
Acajack's Avatar
Acajack Acajack is offline
Monsieur Sainte-Nitouche
 
Join Date: Aug 2006
Location: Vieux Canada
Posts: 32,988
Quote:
Originally Posted by Dengler Avenue View Post
The thing is, can it?
Why couldn't it? Is there something in its constitutional law that would disallow it?

It's a totally sovereign country, and can do whatever the hell it wants.

They can ban grey track pants and flip flops if they want.
__________________
The end of the world ain't what it used to be.
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Regional Sections > Canada
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 6:42 AM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2018, vBulletin Solutions, Inc.