We had the same situation, 1.4 million purchased in condos up at sfu, made 40k/yr, drives a 6 series bmw. I always wondered why he worked here then he got his citizenship and fucked right off, now hes working on getting his parents into the country.

who else is self regulated?
when i hear self regulation, i always think of doctors, lawyers, engineers, accountants....i never really thought about real estate agents

not self regulated - have to answer to government in a major way and also the public if they are negligent or erroneous.

real estate industry is a fucking joke given the sums involved.

Wow R.Mutt That was a fuckign epic post. Sums up how I feel about the whole situation in Vancouver

thx, i threw accountants in the mix i couldn't remember if they were, i just knew they had tests to write so i assumed

Victoria homeless camp a symptom of B.C.'s broken housing market
'It's horrendous, the conditions people are living in,' says neighbour
By Chris Brown, CBC News Posted: Jun 28, 2016 3:13 PM PT Last Updated: Jun 28, 2016 3:13 PM PT

Victoria homeless camp a symptom of B.C.'s broken housing market - British Columbia - CBC News

http://i.cbc.ca/1.3656249.1467132511.../tent-city.jpg
Organizers say between 60 and 120 people have been living in Victoria's tent city. (Chris Corday/CBC)

The dramatic leap in housing prices in British Columbia has pumped hundreds of millions of unexpected tax dollars into provincial coffers, but Bert Woldring wonders why so little of it has been shared with the province's poorest residents.

Woldring is among a hundred or so campers who have turned the area behind Victoria's provincial courthouse into a makeshift tent city.

http://i.cbc.ca/1.3656255.1467132630...l_620/bert.jpg
Tent city resident Bert Woldring says B.C. needs to start sharing with the poor the tax revenues it's collecting during the province's housing boom. (Chris Corday/CBC)

"We want homes. We haven't been able to get them in the system, so we have done what we can where we are," Woldring told CBC News as he walked on paths between the tents and tarp structures, just a few blocks from the city's picturesque inner harbour.

http://i.cbc.ca/1.3656263.1467132826...0/tourists.jpg
Victoria's tent city is a few blocks from the inner harbour, which is packed with tourists in the summer. (Chris Corday/CBC)

Woldring says he almost lost his arm in a workplace accident a decade ago and hasn't been able to work since. He once lived in a tent city in Maple Ridge, B.C., but moved to Victoria this past spring.

His construction skills have come in handy, as he's helped people here build frames, floors and roofs for their homes with donated wood.

No vacancy but big revenues

After seven months, this community now has a semi-permanent feel to it, with artwork and flower planters for decoration. There's also a trailer with flush toilets, showers and a hose with running water.

A central plaza area serves as a site for communal barbecues and there's a kiosk with emergency health supplies and condoms.

"If you'll notice, we have little neighbourhoods here, little enclaves," said Woldring during the tour.

"This has some sense of community. We feel like it's a place where we belong."

http://i.cbc.ca/1.3656276.1467135457.../tent-city.jpg
People living nearby have complained the tent city is unclean and unsafe, despite residents' efforts to keep it orderly and neat. (Chris Corday/CBC)

Provincial welfare rates — and vacancy rates for social housing — are ridiculously low, said Woldring, and the $375 per month many receive for social housing won't cover rent costs.

A 2014 homeless count in Victoria concluded as many as 1,400 people in the provincial capital couldn't find a place to live.

"This can be fixed," said Woldring.

http://i.cbc.ca/1.3656284.1467133185...with-chris.jpg
Woldring tells the CBC's Chris Brown the tent city where he lives offers homeless residents a rare sense of community. (Chris Corday/CBC)

Premier Christy Clark's government collected more than $1 billion in property transfer tax, he said. "We should be getting enough money out of that to provide decent housing for people displaced."

Province in court, again

The province is now before B.C. Supreme Court Chief Justice Christopher Hinkson for the second time in three months to try to show it's belatedly anteing up for those in the tent city.

In the first hearing, the judge sided with the campers, saying there simply weren't any better housing options for them other than staying put.

http://i.cbc.ca/1.3656295.1467133356...egislature.jpg
The B.C. government says it is spending millions to find housing options for the tent city residents. (Chris Corday/CBC)

In a statement to CBC News, the office of Housing Minister Rich Coleman says that since the first hearing, $26 million has been spent to create 370 new beds in shelters and other longer-term housing options.

The province recently purchased an old Super 8 motel as well as a former senior centre.

http://i.cbc.ca/1.3656355.1467134491.../tent-city.jpg
Protesters want Victoria's tent city to be allowed to remain until B.C.'s housing crisis is properly addressed. (Chris Corday/CBC)

'It's just awful'

Exasperated neighbours such as Stephen Hammond blame the province for letting the tent city drag on as long as it has.

Hammond said property crime, threats and intimidation have forced at least four tenants in the building across the street to move out.

http://i.cbc.ca/1.3656311.1467133642.../neighbour.jpg
Neighbour Stephen Hammond is part of a group of Victoria residents trying to get the tent city shut down. (Chris Corday/CBC)

"It's just awful what's going on here, " said Hammond.

"In a country like Canada, we should not be having people living like this. It's horrendous, the conditions people are living in there. How many rats are in there?"

Like Woldring, Hammond blames the province for failing to provide social housing and services for addiction and mental health.

http://i.cbc.ca/1.3656327.1467133938...l_620/tent.jpg
Residents and advocates say the tent city is the result of the B.C. government's failure to provide adequate housing and mental health and addiction services. (Chris Corday/CBC)

"The solution to this crisis is to not move the tent city one block away or to move the people to another place. They are taking the cheapest way out possible. They have completely obliterated social programs in this province."

University of Victoria nursing professor Bernie Pauly is a regular visitor at the tent city. She's also one of 100 local academics who signed a letter in May urging the province to abandon its legal efforts to evict the campers and to instead focus on longer-term housing solutions.

http://i.cbc.ca/1.3656319.1467133781...rnie-pauly.jpg
University of Victoria nursing professor Bernie Pauly is among those pushing the province to allow the tent city to remain. (Chris Corday/CBC)

"Until we see housing for everyone we will continue to see tent cities, because they are a better alternative than being in a doorway," said Pauly.

Poverty protest

Coincidentally, the B.C. housing minister is hosting Canada's federal, provincial and territorial housing ministers in Victoria this week to plot a course for future housing investments.

The federal minister responsible for housing, Jean-Yves Duclos, was shouted down by protest leaders as he came out to meet some of them at a noon-hour rally today.

http://i.cbc.ca/1.3656767.1467148031...0/minister.JPG
Jean-Yves Duclos, the federal minister responsible for housing, speaks to protesters in Victoria. (Chris Corday/CBC)

Later, several dozen protesters carrying signs and chanting "Housing now" blocked the entrance to the Grand Pacific Hotel, where the meetings were happening, as they demanded to deliver a letter to the ministers.

Regardless of when the judge finally decides to issue an order to close the tent city down, several protestors told CBC News they feel they have already scored several key wins, such as the several hundred new social housing units.

http://i.cbc.ca/1.3656877.1467147580...protesters.jpg
Protesters gathered outside a hotel in downtown Victoria where housing ministers from across Canada were meeting. (Chris Corday/CBC)

Pauly agreed.

"I sometimes feel like we have amassed this huge pile of evidence about high housing costs and low vacancy, and tent city was the flame."

Don't worry, when the bubble pops all those hard working individuals will be snapping up dem shaunessy properties

no need to wait they can declare themselves freemen of the land and squat/occupy the empty homes as their own.

It didn't sell...Bidding started at 2.5M, first bid at 1.5M... 1.7M reserve not met... not sure if sellers were being greedy or a sign of things to come

Burnaby, B.C. house up for auction fails to sell - The Globe and Mail

What do you mean when bubble pops?

You mean like when China's economy bursts and all the muti-millionaire Chinese can no longer afford houses in Vancouver?

Chinese are now targetting Los Angeles, Tokyo, New York, and all the major cities.

It's not easy to find a home for under $1 million in Vancouver right now, but that number might be $2 million pretty soon.
You know the population of China and how many multi-millionaires they have.

In fact, I think top 10%(or so) houses are over $5 million.
Map charts growth of million dollar homes in Vancouver

Unless Canadian politicians are willing to artificially pop the bubble by restricting Chinese investors, it won't happen anytime soon. (unless something happens in China)

However, it's not THAT easy for Canadian politicians to simply restrict foreign investors.
As CBC article that I posted few posts ago says, skyrocketing housing prices have brought the government unexpected amount of property tax $, therefore by artificially popping this bubble, the government must brace to lose approx $1 billion in tax money.

It's more likely that China would stop any money from leaving the country before Canada does anything about restricting foreign money coming in.

/\
get the fuck out of here with that clickbait bullshit link.

I think that guy using able auctions to sell that home did themselves a disservice in using able.

I think if he had just kept quiet and used a good realtor his clientele would have been far greater and could have sold to some foreign investor or shady builder. On the news the guy hosting the auction said the 3 main bids were all by local developers. Could have probably sold it easily through regular means. No one wants to be plastered all over the news

GTFO with this bullshit. The people living in "tent city" are a bunch of fucking drug addicts who believe that they are entitled to get something for nothing.

Months ago, the province opened up additional shelters in the region for these people. The people who actually wanted to improve their lives left to go use them. The rest were the fucking freeloader lowlifes who just want to do drugs all day, but yet they demand housing.

This whole thing is such a farce. The province should accept a big part of the blame, they let these people stay when the camp was first set up on the courthouse grounds (provincial property) instead of kicking them out to begin with. Now the problem has grown tenfold, and unfortunately the City of Victoria has to deal with it. VicPD has already released stats that crime in the area has doubled since last year.

What that area needs is a fucking firebomb right in the center of it.

I wonder if and what the buyer's premium is.

Please run for office, thanks.

Thank fuck my adblocker was up

Welcome to status quo thinking 30 years ago

Get over yourself...

https://www.instagram.com/realtoraniab/
https://www.instagram.com/mariaforonda/

Daaaaayaaammmm
:sweetjesus:

Yup, it's been a burden on everyone in the area and is an eyesore.

The province and the city both purchased property to house these people and many of them refused to leave.

My sympathy level dropped through the floor when they started comparing the social housing offered to them to aboriginal residential schools. Fuck them and their exaggerated political agenda.

If China took more steps to prevent money from leaving their country do you think it would cause a huge rush to get money out of the country which would just lead to a bigger shit show?

There are already massive restrictions on money leaving china. But money leaves china anyways. When there is a will, there is a way.

I think a lot of people don't realize that housing is not a cure for drug addiction.
If you see drug addicts on street, simply giving them a place to live isn't going to fix anything.

Only people that are eager to work but out of job due to unfortunate circumstances may have more hope.

fixed :troll: Kappa LUL :ilied:

Oh the stories I could tell
From what I heard she has a Chinese friend that starts the deals brings in the clients and then she "gets the deal done"