FIVRE604

@SteveSaretsky #2

@SteveSaretsky here we go.... One neighbour/friend relieved

Home flipping activity in Metro Vancouver has crashed to record lows, representing less than 2% of all sales.

😬

Price discovery for the TH owners in this building who were hoping to cash in on the Broadway plan.

@brad_barrett @SteveSaretsky thanks

Bank denies financing for $100M project in Richmond due to uncertainty over First Nations title. As I said, in the banking world there is no such thing as two titles co-existing. biv.com/news/councillo…

😮

@BradWestPoCo You're the only mayor in B.C brave enough to state the obvious on so many issues.

B.C. is facing the inevitable fallout of an economy built not on value-added manufacturing, technology, innovation, or unshackling our resources, but primarily on real estate. The province’s economic engine has been re-geared to run on relentless mass immigration, where the core “business plan” is building and selling homes to the next wave of newcomers. This isn’t strategy — it’s a Ponzi scheme. And like every jurisdiction that’s tried it, the house of cards is now beginning to collapse.

Developers pleading with Gov to allow them to sell our homes to those who live in an even more "Impossibly unaffordable" city. "We need the richest people in the world to buy our new builds or we can't build". Basically. Seems like a good model chapman.edu/communication/…

@DouglasTodd @joanneleeyoung 😎

One condo in the chic Chloe is now asking $1.5k /sq ft. That's much lower than the $2.1k /sq ft. presale buyers paid. Evidence of much flipping in development, co-owned by Vicky Zheng, aka Xiao Song Zheng. Via @joanneleeyoung #vanre #vanpoli #bcpoli vancouversun.com/business/real-…

@Ayan604 @fumano what a flip from "oh they're just an imaginary Boogeyman, you racists" to "our entire industry doesn't work without foreign investors" basically

A real estate model fuelled by foreign capital is now only affordable to foreign capital? "'That model is dead:' B.C. Premier, housing minister rebuff developers' request for foreign real estate investment" as told by @fumano #bcpoli #vanpoli #vanre #comments-area" target="_blank" rel="nofollow noopener">vancouversun.com/opinion/column…

@Ayan604 It's never enough for UDI

447 page report dropped with less than 3 days for public review in the middle of summer. Is this how you can build trust in a planning process and a mayor and council? #vanpoli #vanre

Our pre-sale market is dead. June absorption numbers ⬇️

@CityHallWchVAN I searched the applications and see that all 3 were approved so I guess they're allowed to remove the signs once they get approval. I thought they remained with an approved sticker on them until they started building. Was kinda hoping some long-term locals may have been spared

@CityHallWchVAN Locals are wondering if the development applications weren't approved? or maybe a change of plans? or they can just take down the signs once they get the zoning approval? Thanks for your help

A mountain view from Cambie Street and West 8th Avenue. Then and now. cityhallwatch.wordpress.com/2024/01/12/vie…

@jhwfung they're holding land at prices that won't pencil out if they build to accommodate local wages. So.. we return to building for non-end-users to appease the UDI? or we continue to let land price decline to where building works for local buyers?

@jhwfung 'locals aren't interested in pricey high-rise apartments and those are our biggest money-maker. Can we please return to accommodating non-local investors instead of adjusting to local demand?' gobble gobble

“Listen, the only way condo development works is if we keep accepting foreign wealth into this city and pricing people on local incomes out” - the UDI #VanRE

@brettdrc those were the days :)

@FIVRE604 Perfect for the role. Miss the golden era when she would post after some vino 😂

Headline: Morals for Sale: Developers Shamelessly Court Foreign Investors, Leaving Canadians Priced Out of Basic Housing