I agree, I work in Tower 3 and see the same thing. In fact, I'm pretty sure there are illegal residential suites in Towers 1 and 2, because I literally see Chinese nationals with their children and luggage going up in the morning to either tower, clearly not heading to an office or work of any sort.

It's very strange.

My father immigrated here in the 60's, and anytime he visits me at Metrotown for lunch, he's absolutely stunned by the demographic changes. I grew up in Burnaby, and even for me, I'm finding it surprising how much different Metrotown's demographics have changed even from my High School days.

It's jarring.

https://www.vancourier.com/real-esta...ars-1.23505823

Between the Lougheed Mall development and now this one, this whole area is going to be interesting.

Anthem properties is the company that bought my building up but I'm near the tip of northern Burquitlam. Didn't realize how much land this company has absorbed.

Condo cartels. The future is here!

One of Canada’s Biggest Money Laundering Probes Has Collapsed
https://www.bloomberg.com/news/artic...robe-collapses

Too many politicians and "legitimate" business people's names coming up I'm sure... time to torpedo it.

Cash is king. People turn a blind eye aslong as they get a piece of the pie.

It's crazy because this story will be forgotten by next week in this stupid city. I've said it once and I'll say it again, this Province carries one of the most corrupt governments in Canada, by far.

BC has been known as the wild west of Canada for decades now, this is only another example.

The criminal justice system, and the local government are not on your side.

The RCMP can't catch a cold, and they are either complicit, woefully inept, or both. The dropping of this case will only embolden those to continue these illegal practices, and jesus it's so damn frustrating.

It's really time to start accelerating our 5 year plan to move out of Vancouver.

Only reason I stick around here is because of my retired parents. The more I learn about our political environment and how its trickled down to us (like sewage), the more I'm ready to pack and move. Love this province but it's been raped pretty good for a long time. it's almost supernatural how they've gotten away with it.

But hey let's talk about a fucking otter some more. Gotta prioritize them issues.

I still don't see how the gov can say we are in a healthy economy while most economist is saying the exact opposite. I see major brands closing its door (Toys R Us, Sears, The Gap, Townshoes etc etc). With GM closing its plant, and the fact we are losing in terms of trading to the US and China and energy sector slowing down (low gas price and LNG not being build) what's there to support our economy?

I see more and more people out of a jobs everyday. With raising interest rate and our debt level at a all time high how long we can keep this going before things get really bad and the gov admit we are in a recession?

^^^ then interest rates will drop, prices go down and time to sweep up more condos :pokerface:

One bedroom is roughly around 550k right now. Even if it drops 20% it is still 440k. In order for price to drop to 2014 price (300k) Price will have to drop close to 50%. If that's the case I am pretty sure a lot of Canadians would commit suicide already.

Even if price drops 50% how many people that complain about high pricing will be able to afford it then? I mean back then when it was cheap people didn't have money to buy them so what's the difference now? What have change so that they can afford a place?

^ facepalm

You know how jobs, paycheques, savings, aging and career progression work, right?
The 23 year old straight out of college didn't have money because they were, well, going to college.
Now that they've been working for 5 years, they have been getting paid a real wage for 5 years.
That's the most annoying thing for me about this. So many people just seem to disregard the next generation. Don't get me wrong, I'm not some saint thats giving some kid my car, but I don't, and neither does anybody, deserve to make a penny off of their home just because they got it, 5, 10, 15, 20, etc years ago.

That's how it's supposed to work... save up for their downpayment for when the time is right to buy... but current savings rate is at 0.8%

https://www.bloomberg.com/news/artic...or-a-rainy-day

I feel like a lot of these are more shifts in consumer preference and companies failing to adapt. I wouldn't say that the failure of these companies indicates economic performance.

Toys R Us has had junk bond status since Jan 2005, Sears sales have remained in the ~50B range while Walmart was doing ~100B since the late 1990s, and only the Canadian branch of Town Shoes is claiming significant losses due to competition.

What you're seeing here is mid tier brands being squeezed out of the market by value (i.e. Walmart/Target/Winners), extreme-value (i.e. Dollarama), and in fashion - fast fashion (Zara), and luxury brands.

Keep in mind, Gap's bankruptcy is Chapter 11, so they're remaining in operation but looking to restructure.

A bunch of shitty box stores closing also isn't my idea of the doomsday whistle for the economy. Some people are actually considering where their money is spent, and putting in a effort to support smaller businesses that offer superior products.
On the other end, the people who don't care are spending their money at amazon because it offers the same shit for cheaper, with more convenience. That leaves those giant archaic stores in no mans land.

+1. The internet has been a game changer in how consumer interact with brands and spend. Reducing friction for routine purchases online seems to key, while retail will focus on luxury brands.

Think about "1 click buy" and it shows up the next day, or even "Subscribe and Save" where Amazon ships you laundry detergent automatically.

Applied to cars.... you could order Care by Volvo via an app... and for US$650 a month get an XC40 with insurance and wear and tear included (yes, brakes and wipers)...

or you could spend half a day in the dealership, talk to salesman, finance manager, maybe sales manager, call your insurance broker, come back a week later to pick up car all to get locked at US$512 a month on an X1 and still have to pay extra for insurance + wear and tear.

You realize it was the federal government who axed this right?

I wonder if it had anything to do with raj grewal..
https://globalnews.ca/news/4710587/r...ey-laundering/

If I remember correctly, Onni is holding onto a large parcel (currently a two level strip mall with that chinese restaurant) on the corner of North Rd. and Cameron.

Lougheed will be totally different for sure..BibleThump

Which is why I mentioned the RCMP, is that not obvious?

As well, if you don't think the Provincial and local governments play a factor to this problem, you have your head in the sand.

Some light presales update before holidays - been hectic on business front with re-sales lately (better rebrand as Resales-VIP.com.. )

50% is still selling but trend has definitely slowed down.

Richmond
Going gangbusters!
Galleria Concord Pacific brand is insane - after selling out (nearly) Park George in Surrey last month, Galleria (basically Concord Gardens) is selling fast. $1100/ft but nicely laid out units and modern setup. New Skytrain next door helps

Paramount
$600K under units no parking basically (500ft and under). Across from Richmond Center. Going well, Tower 3 starting soon Dec.


Brentwood
AKIMBO0
No percentages but most VIP guys have 10% off so make sure you get that if you're buying - obviously price is higher for a smaller dev but decent deal for Brentwood.

Marcon / Brentwood
Near the Costco region - likely on lowrise near Dawson/Willingdon. $800/ft.

Surrey
Centra
Smaller developer but $750/ft to start and reasonably priced.

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Vancouver
Oakridge by Westbank Super expensive - but still selling off to a good start it sounds like. My clients aren't in the $2M 1BR range so I can't speak too much about it.

___

We have been selling quite a few assignments (10 active now) - anyone that's bought 2 years ago are still up quite a bit. Gone are the crazy $200-300K lifts that people are buying Maseratis with though I'll say, more conservative structured and room for buyer to make some money in 1-2 years generally.

Keep in mind Dec/Jan is usually slower with holidays and such - sellers who have to sell now are really in a bad situation with volume and amount of eyeballs looking at deals.

Good time to snatch up desperate Assignments (can't get mortgage) and/or existing deals.

Canceling an investigation like this is far beyond the rcmp's authority

How much do yall think this is?

https://www.buzzbuzzhome.com/ca/first-light