REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

Reply
 
Thread Tools
Old 04-06-2022, 06:18 PM   #21301
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Posts: 37,574
Thanked 14,966 Times in 5,970 Posts
Failed 2,061 Times in 690 Posts
The Ukrainian refugees will surely be able to bid alongside the Chinese children driving their Avanentadors and G63’s
Advertisement
__________________
Dank memes cant melt steel beams
Hondaracer is online now   Reply With Quote
This post thanked by:
Old 04-06-2022, 06:45 PM   #21302
To me, there is the Internet and there is RS
 
Manic!'s Avatar
 
Join Date: Apr 2004
Location: Nanaimo
Posts: 16,426
Thanked 7,629 Times in 3,585 Posts
Failed 1,506 Times in 644 Posts
Banning foreign buyers will not help.
The rich in Canada have too much money with nothing to spend it on/invest in. If you have money you don't want to by any business that requires labor because you can't find workers any you are going to run it yourself. So it gets dumped into real estate. A safe investment that has been making huge gains. But even real estate is becoming hard to buy because nothing is available.

You have lots of Canadians with millions of dollars in banks just sitting there.
__________________
Until the lions have their own historians, the history of the hunt will always glorify the hunter.
Manic! is offline   Reply With Quote
Old 04-06-2022, 06:57 PM   #21303
Rs has made me the man i am today!
 
bobbinka's Avatar
 
Join Date: Nov 2008
Location: Vancouver
Posts: 3,211
Thanked 4,057 Times in 975 Posts
Failed 130 Times in 33 Posts
Quote:
Originally Posted by Manic! View Post
You have lots of Canadians with millions of dollars in banks just sitting there.
Not this one.
bobbinka is offline   Reply With Quote
This post thanked by:
Old 04-06-2022, 08:26 PM   #21304
My homepage has been set to RS
 
PeanutButter's Avatar
 
Join Date: Jun 2013
Location: Burnaby
Posts: 2,431
Thanked 2,912 Times in 772 Posts
Failed 407 Times in 108 Posts
I just ran into an old friend today.

He's 41 y.o. He has two town houses and one condo in Surrey (He had a house in Vancouver that he sold and moved to Surrey and bought all three houses). He told me he just sold one of the town houses for $1M, which he paid ~$300k for originally.

I asked him why he sold the town house and he said the market feels toppy and he believes macro-economically real estate is going to drop because of interest rates, so he wanted to realize some profits and he said once the market corrects he'll get back in.

I was super happy for him and extremely impressed by his portfolio, but I questioned if it was risky for him to try and time the market like he's doing. He said the main reason was that he didn't want to work that hard anymore. The pandemic changed his perspective, so he cut back his working hours to four days a week and a max of five hours a day. He reads utility meters all over the city. He said that was a six figure job??? Seems high, but I didn't question him.

He has two boys 10 and 14 and a wife, so they're going to take the money and go on vacation and just not stress as much anymore.

I just thought that was a super cool encounter I had today and thought some of you might be interested.
PeanutButter is offline   Reply With Quote
This post thanked by:
Old 04-06-2022, 08:28 PM   #21305
My homepage has been set to RS
 
PeanutButter's Avatar
 
Join Date: Jun 2013
Location: Burnaby
Posts: 2,431
Thanked 2,912 Times in 772 Posts
Failed 407 Times in 108 Posts
Quote:
Originally Posted by Manic! View Post
You have lots of Canadians with millions of dollars in banks just sitting there.
I don't know about "lots", but I know one of my aunts has about $300k in GIC's. She's been saving and she has never put money into the stock market because it's "gambling". If she only put some of that into equities back in the day, she would be a millionaire by now .
PeanutButter is offline   Reply With Quote
This post thanked by:
Old 04-06-2022, 08:51 PM   #21306
My homepage has been set to RS
 
Teriyaki's Avatar
 
Join Date: Apr 2004
Location: Vancouver
Posts: 2,285
Thanked 1,436 Times in 564 Posts
Failed 40 Times in 21 Posts
Quote:
Originally Posted by PeanutButter View Post
I don't know about "lots", but I know one of my aunts has about $300k in GIC's. She's been saving and she has never put money into the stock market because it's "gambling". If she only put some of that into equities back in the day, she would be a millionaire by now .
Used to work in banking. Can confirm. Don't underestimate the Chinatown Aunties. Slow and steady while wearing their grandkids hand-me downs. Don't even try to talk to them about the market. GIC's to the grave. I understand, they grew up in the very different time and it's shaped their investment outlook permanently.

On a semi-related note. Has anyone looked into installing a heat-pump in their residence? We're in a TH Strata so never looked much into it but we're getting notice that our old radiant floor heating is "past-expiry" and repairing it could be a very expensive figure.

Looks like there's 2 rebates. BC https://www.bchydro.com/powersmart/r...switching.html [/URL]and Federal (https://www.nrcan.gc.ca/energy-effic...es-grant/23441), with the BC one seemingly much easier to attain? Would love to hear some first hand experience if anyones gone through the system.
Teriyaki is offline   Reply With Quote
Old 04-07-2022, 08:10 AM   #21307
Need to Seek Professional Help
 
Join Date: Mar 2003
Location: Vancouver
Posts: 1,091
Thanked 164 Times in 83 Posts
Failed 15 Times in 7 Posts
There’s a boat load of money out there and on the sidelines. Not just Chinatown aunties.

The federal program is a mess. The hydro/fortis rebate I just went through and got my cheques in around 2 months. The federal one, which may be faster now, but took 7-8 months for them to just to even look at it…got approved a few days later and now I’m waiting for the cheque/rebate…I’m on month 9 now and honestly I wouldn’t be surprised if it takes almost the full 12 months

I knew this was gonna be a struggle with the federal grant…good thing I knocked down a couple hundred on my reno to compensate for this waiting
Sw0op is offline   Reply With Quote
Old 04-07-2022, 08:32 AM   #21308
Old School RS
 
lowside67's Avatar
 
Join Date: May 2004
Location: Port Moody
Posts: 4,596
Thanked 4,042 Times in 1,232 Posts
Failed 129 Times in 79 Posts
Quote:
Originally Posted by PeanutButter View Post
He told me he just sold one of the town houses for $1M, which he paid ~$300k for originally.

...

so he wanted to realize some profits and he said once the market corrects he'll get back in.
This is a terrible strategy. In the long run, everything moves upwards - real estate, stocks, etc due to the natural effects of inflation. Therefore, on average, it moves upwards more often and in a larger amount than it does down. So in effect, you have a short window where if you get lucky, the market moves downward sharply and significantly enough to re-buy, but generally, if you don't get that, over time you are just further and further behind.

In real estate - that's doubly true. Given how expensive it is to buy and sell (realtor fees, property transfer taxes, legal, financing) - you need the market to crash a LOT to actually make this worthwhile. At least with your stocks, you can instantly buy/sell with negligible transaction costs which improves your odds that you might come out ahead with this gamble.

Just ask anybody who has been "waiting for the crash to buy" in Vancouver... every single year, they are more screwed, and further away. We bought our house in 2018 when the market took a SMALL decline - it helped us feel good, but the reality is the decline was far smaller than the amount it went up in the years before it. We were still far worse off for waiting (though this was due to not being able to afford it earlier, not trying to time the market).

Quote:
He said the main reason was that he didn't want to work that hard anymore. The pandemic changed his perspective, so he cut back his working hours to four days a week and a max of five hours a day. He has two boys 10 and 14 and a wife, so they're going to take the money and go on vacation and just not stress as much anymore.
This is totally different, and it makes a lot more sense to sell for this reason.

-Mark
__________________
I'm old now - boring street cars and sweet race cars.
lowside67 is offline   Reply With Quote
This post thanked by:
Old 04-07-2022, 08:38 AM   #21309
Old School RS
 
lowside67's Avatar
 
Join Date: May 2004
Location: Port Moody
Posts: 4,596
Thanked 4,042 Times in 1,232 Posts
Failed 129 Times in 79 Posts
Quote:
Originally Posted by Teriyaki View Post
Used to work in banking. Can confirm. Don't underestimate the Chinatown Aunties. Slow and steady while wearing their grandkids hand-me downs. Don't even try to talk to them about the market. GIC's to the grave. I understand, they grew up in the very different time and it's shaped their investment outlook permanently.
That kind of thing makes me sad - as you know, if they owned GICs their entire lives, they had less real money (purchasing power) every single year until they died. They lost money every year despite not understanding this since the actual number in their account went up.

Financial literacy is one of the biggest shortcomings of Canadian education - a generation of not understanding the power of compound interest results in an ever-widening gap between the "haves" and "have nots" in each subsequent generation.

If we could generally help the lower middle class understand better the power of simple financial decisions made early in life for long periods of time, it would actually move the needle - I really believe this.

Stop listening to your parents that "you'll never sleep better then when you don't have a mortgage." The goal should be to have a giant portfolio of assets (real estate, stocks, baseball cards, I don't care) that are going up faster than the interest rate of your mortgage. If you are doing that, every year you have a mortgage, you are creating wealth for yourself and your children. It's simple math, but it's frankly only how wealthy and business people think, not "average" folks and it really hurts them.

Soapbox off...

-Mark
__________________
I'm old now - boring street cars and sweet race cars.
lowside67 is offline   Reply With Quote
Old 04-07-2022, 08:40 AM   #21310
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Posts: 37,574
Thanked 14,966 Times in 5,970 Posts
Failed 2,061 Times in 690 Posts
I don’t think financial literacy would convince these people who think the stock market is gambling/a fools game any otherwise. It’s more of a cultural thing than education imo

I know plenty of people who had the same mentality and actually took huge hits buying property in Alberta as a “safe” investment VS investing in the market. I don’t feel too badly for them.
__________________
Dank memes cant melt steel beams
Hondaracer is online now   Reply With Quote
Old 04-07-2022, 09:00 AM   #21311
Rs has made me the woman i am today!
 
Euro7r's Avatar
 
Join Date: Sep 2006
Location: Vancouver
Posts: 4,157
Thanked 1,346 Times in 589 Posts
Failed 149 Times in 56 Posts
Quote:
Originally Posted by Hondaracer View Post
I don’t think financial literacy would convince these people who think the stock market is gambling/a fools game any otherwise. It’s more of a cultural thing than education imo

I know plenty of people who had the same mentality and actually took huge hits buying property in Alberta as a “safe” investment VS investing in the market. I don’t feel too badly for them.
My aunt been timing the market for the last 14 years, literally fucked their adults kids over now, as she could have owned multiple houses if she bought in back that time. That stupid mentality of market crashing, will be cheaper next year. Now she could only afford one-town house locally LOL. It's simple demand > supply. There's only so much land in the city. Even if the market crashes, are people expecting homes to be 50% off? I kept telling my aunt, you save $100K today but homes go up $250K, your always trying to playing catch-up. The increase is far greater and faster than you could ever save.
Euro7r is offline   Reply With Quote
Old 04-07-2022, 09:47 AM   #21312
Revscene.net has a homepage?!
 
Join Date: Apr 2001
Location: Vancouver
Posts: 1,222
Thanked 297 Times in 86 Posts
Failed 81 Times in 12 Posts
Timing Real Estate in Vancouver is like buying NFTs... "Trust me, it's going to be a rare one!"
Wormiez is offline   Reply With Quote
Old 04-07-2022, 10:26 AM   #21313
RS has made me the bitter person i am today!
 
Join Date: Apr 2014
Location: Van
Posts: 4,594
Thanked 1,948 Times in 1,029 Posts
Failed 206 Times in 125 Posts
Even if my place takes a 20% hit I still can't afford to rebuy it
JDMDreams is offline   Reply With Quote
Old 04-07-2022, 12:25 PM   #21314
To me, there is the Internet and there is RS
 
Manic!'s Avatar
 
Join Date: Apr 2004
Location: Nanaimo
Posts: 16,426
Thanked 7,629 Times in 3,585 Posts
Failed 1,506 Times in 644 Posts
Quote:
Originally Posted by Wormiez View Post
Timing Real Estate in Vancouver is like buying NFTs... "Trust me, it's going to be a rare one!"
If you can afford to hold a property for a long time there is no wrong time to buy.
__________________
Until the lions have their own historians, the history of the hunt will always glorify the hunter.
Manic! is offline   Reply With Quote
Old 04-07-2022, 01:29 PM   #21315
RS.net, helping ugly ppl have sex since 2001
 
pastarocket's Avatar
 
Join Date: Feb 2010
Location: Vancouver
Posts: 9,295
Thanked 3,651 Times in 1,781 Posts
Failed 693 Times in 217 Posts
Your thoughts on the federal budget in terms of addressing housing affordability?

https://vancouver.citynews.ca/2022/0...-2022-housing/

Addressing housing supply in Budget 2022

“In putting together this budget, we were very mindful of elevated inflationary pressure,” said Freeland, noting this is one that focuses on expanding the supply side of the economy.”

In its fiscal plan, the federal government is looking to double the construction of new homes over the next decade, to address supply challenges. Budget 2022 is proposing an additional $4 billion over five years to launch the Housing Accelerator Fund, which aims to help municipalities across the country to build new housing units. This fund would provide supports, like an “annual per-door incentive or upfront funding” for housing plans and delivery to help speed up development.

First-time buyers

To help Canadians break into the housing market, Budget 2022 includes the introduction of the Tax-Free First Home Savings Account, which aims to help people buy their first home. The Liberals estimate the account could give prospective buyers the ability to save up to $40,000, adding the account would act like an RRSP, with contributions tax-deductible and withdrawals for a first home non-taxable, like a TFSA.
In addition to this, the government proposes to double the First-time Home Buyers’ Tax Credit to $10,000, “providing up to $1,500 in direct support to home buyers,” applying to homes that are bought on or after Jan. 1, 2022.

Budget 2022 says the government plans to work with financial institutions to ensure Tax-Free First Home Savings Accounts can be opened and that people can start contributing to them in 2023.

The minority government estimates the account will “provide $725 million in support over five years.”

Foreign buyer ban
Budget 2022 introduces the Liberal government’s intention to introduce a ban on foreign investments in Canada’s housing market. The proposed restrictions would “prohibit foreign commercial enterprises and people who are not Canadian citizens or permanent residents from acquiring non-recreational, residential property in Canada for a period of two years.”


Budget 2022 says foreign money in Canadian real estate has been “fuelling concerns about the impact on costs in cities like Vancouver and Toronto” for years, adding it’s also added to Canadians’ worries about increasing prices across the country.

House flipping rule proposals

Another issue that is being highlighted by the latest budget is that of property flipping. The practice, which has been flagged by many across Canada for years, “can unfairly lead to higher housing prices,” Budget 2022 notes, adding some people may even be “improperly reporting their profits” from flipping homes to “pay less tax.”

The fiscal plan proposes the introduction of new rules which would apply to individuals who sell a property they have held for less than a year – 12 months. These individuals would be “subject to full taxation on their profits as business income,” with the measures applying to residential properties that are sold on or after Jan. 1, 2023.


Budget 2022 notes there would be exemptions to these rules, such as for Canadians who need to sell the property due to “certain life circumstances,” like a death, disability, family or economic changes. The government plans to consult Canadians on rules.

“This new measure will ensure that investors who flip homes pay their fair share while protecting the current, vitally important, principal residence exemption for Canadians who use their houses as homes,” the budget explains.

Property flipping is an issue the Liberals have been questioned on in the past. A now-Liberal-MP in the Vancouver area came under fire in 2021, prior to the federal election, for his involvement in a number of rapid-fire deals over the last decade in Vancouver’s hot housing market.

Home Buyers’ Bill of Rights

As competition remains cut-throat in many regions of Canada, some home buyers have been forced to make difficult decisions to secure a purchase. Budget 2022 notes the federal government will work with provinces and territories over the coming year to create and bring in a Home Buyers’ Bill of Rights (https://liberal.ca/housing/introduce...ill-of-rights/). The bill, which the government first hinted at last year, would protect prospective buyers from unfair practices, like blind bidding or waiving inspections. The budget also proposes bringing forward a plan to end the practice of blind bidding, which, according to the Liberal Party, the practice that “prevents bidders from knowing the bids of other prospective buyers, and ultimately drives up home prices.”
[B]

Housing for Indigenous communities

Building on previous spending, the 2022 fiscal plan proposes $4.3 billion over seven years to improve and expand Indigenous housing in Canada. This is on top of more than $2.7 billion invested since 2015, the Liberals say. The government also plans to allocate $2 billion from the $20 billion already set aside for the First Nations Child and Family Services program to target the needs of Indigenous children once a settlement agreement is reached. In total, Budget 2022 foresees spending on improving and expanding Indigenous housing hitting $6.3 billion over seven years.

Housing for those most vulnerable

The minority government is proposing to extend the Rapid Housing Initiative for a third round to help get more affordable housing units built. Budget 2022 outlines an additional $1.5 billion over two years to the Canada Mortgage and Housing Corporation, which the Liberals expect will “create at least 6,000 new affordable housing units.” The budget notes at least 25 per cent of the funding will go to women-focused housing projects.

When it comes to rentals, Budget 2022 announces the Liberals’ “intent to reform the Rental Construction Financing Initiative,” focusing on affordability and energy efficiency. The budget also announces plans for new requirements and incentives to “ensure that rental units built through (the Rental Construction Financing Initiative) are more affordable, that people can reduce pollution, and save on energy bills.” The Liberals target that this will also help Canada continue to progress on its goals of meeting climate projections.

The initiative’s target is to have “at least 40 per cent of units it supports provide rent equal to or lower than 80 per cent of the average market rent” in the community the project is in.

Financial support for ‘Canadians experiencing housing need’

As part of $4 billion in joint funding announced in 2020 through the Canada Housing Benefit, Budget 2022 proposes $475 million this fiscal year to provide people who are “facing housing affordability challenges” with a one-time $500 payment. Budget 2022 says more specific details will be provided “at a later date.”
__________________
Go Canucks go!

Last edited by pastarocket; 04-07-2022 at 01:45 PM.
pastarocket is offline   Reply With Quote
Old 04-07-2022, 02:11 PM   #21316
RS has made me the bitter person i am today!
 
Join Date: Apr 2014
Location: Van
Posts: 4,594
Thanked 1,948 Times in 1,029 Posts
Failed 206 Times in 125 Posts
A lot of talk, look at what happened to the first time home buyer credit we have for BC, and first time home buyer incentive. One is capped at $500k and the other is capped at like $120k of income? Good luck buying with that.

I didn't hear much of how they can increase supply, this is an easy supply and demand problem. Increase supply and prices will fall, but I don't see how many cities like Vancouver can increase supply as we have no land, not everyone wants to live in 500sq, then we have the outdated infrastructure roads that can't support that much density.
JDMDreams is offline   Reply With Quote
Old 04-07-2022, 02:21 PM   #21317
RS.net, helping ugly ppl have sex since 2001
 
pastarocket's Avatar
 
Join Date: Feb 2010
Location: Vancouver
Posts: 9,295
Thanked 3,651 Times in 1,781 Posts
Failed 693 Times in 217 Posts
Hmm, I am looking more at the demand side of housing after reading the budget details.

Two year ban on foreign individual and business ownership of residential property ownership in Canada.

Proposed rules on fully taxing individuals on profits from flipping their homes with less than a year of ownership.

Is is really just talk this time from the Feds?
__________________
Go Canucks go!
pastarocket is offline   Reply With Quote
Old 04-07-2022, 02:30 PM   #21318
RS has made me the bitter person i am today!
 
Join Date: Apr 2014
Location: Van
Posts: 4,594
Thanked 1,948 Times in 1,029 Posts
Failed 206 Times in 125 Posts
Right, I guess we'll have to wait 366 days before we can sell. Unless the market is red hot I doubt you can buy a house pay tax, fees, then flip in 3 months pay tax and fees again then break even. To the moon. only one getting rich is the gov with the property transfer tax.

What about the hundreds of thousands of immigrants they are gonna let come in. All the Ukrainians we now own and have to feed.

Then you just get your pr aunty or your student son to buy that $10 million mansion.

Nothing some lawyers can't figure out if you have the $ to throw.

But yea maybe we should tear down more of those 50 year old slum apartments and rebuilt towers on the land. Offer the existing residents first dibs ??? Profit. Solves the leaky condo issue too. Tear down Broadway and nanaimo and build towers there.
JDMDreams is offline   Reply With Quote
Old 04-07-2022, 02:39 PM   #21319
Willing to sell body for a few minutes on RS
 
Great68's Avatar
 
Join Date: Mar 2002
Location: Victoria
Posts: 10,567
Thanked 5,004 Times in 1,845 Posts
Failed 185 Times in 100 Posts
Quote:
Originally Posted by pastarocket View Post

Home Buyers’ Bill of Rights

As competition remains cut-throat in many regions of Canada, some home buyers have been forced to make difficult decisions to secure a purchase. Budget 2022 notes the federal government will work with provinces and territories over the coming year to create and bring in a Home Buyers’ Bill of Rights (https://liberal.ca/housing/introduce...ill-of-rights/). The bill, which the government first hinted at last year, would protect prospective buyers from unfair practices, like blind bidding or waiving inspections. The budget also proposes bringing forward a plan to end the practice of blind bidding, which, according to the Liberal Party, the practice that “prevents bidders from knowing the bids of other prospective buyers, and ultimately drives up home prices.”
[B]
This whole "home buyer's bill of rights" seems like punishment to sellers for a problem that was 100% caused by buyers.

Things like waiving inspections is not inherently unfair. For those who have valid reasons and can afford the risk it's a tool to make their bid more favorable, no different than offering a higher price.
It's ridiculous that people have to be protected from their own bad decisions.
__________________
1968 Mustang Coupe
2008.5 Mazdaspeed 3
1997 GMC Sonoma ZR2
2014 F150 5.0L XTR 4x4

A vehicle for all occasions
Great68 is offline   Reply With Quote
Old 04-07-2022, 02:43 PM   #21320
RS has made me the bitter person i am today!
 
Join Date: Apr 2014
Location: Van
Posts: 4,594
Thanked 1,948 Times in 1,029 Posts
Failed 206 Times in 125 Posts
^^ yea, if I was a seller then I just wouldn't sell, this won't create more supply, or you have to offer even higher to get your offer looked at.

What about the ppl that has to sell inorder to buy?
JDMDreams is offline   Reply With Quote
Old 04-07-2022, 02:50 PM   #21321
2013, 2016, 2017 & 2018 NHL Fantasy RS1 Champion
 
HonestTea's Avatar
 
Join Date: Aug 2005
Location: Vancouver
Posts: 7,052
Thanked 1,286 Times in 594 Posts
Failed 65 Times in 37 Posts
Quote:
First-time buyers

To help Canadians break into the housing market, Budget 2022 includes the introduction of the Tax-Free First Home Savings Account, which aims to help people buy their first home. The Liberals estimate the account could give prospective buyers the ability to save up to $40,000, adding the account would act like an RRSP, with contributions tax-deductible and withdrawals for a first home non-taxable, like a TFSA. In addition to this, the government proposes to double the First-time Home Buyers’ Tax Credit to $10,000, “providing up to $1,500 in direct support to home buyers,” applying to homes that are bought on or after Jan. 1, 2022.
What makes this any different than TFSA?
HonestTea is offline   Reply With Quote
Old 04-07-2022, 03:01 PM   #21322
My homepage has been set to RS
 
SkunkWorks's Avatar
 
Join Date: Mar 2008
Location: Vancouver
Posts: 2,193
Thanked 5,428 Times in 864 Posts
Failed 36 Times in 32 Posts
Quote:
Originally Posted by HonestTea View Post
What makes this any different than TFSA?
It's tax deductible like an RRSP account.
__________________
Feedback 11-0-0
SkunkWorks is offline   Reply With Quote
Old 04-07-2022, 03:07 PM   #21323
RS has made me the bitter person i am today!
 
Join Date: Apr 2014
Location: Van
Posts: 4,594
Thanked 1,948 Times in 1,029 Posts
Failed 206 Times in 125 Posts
^ it sounds really weird, why not just increase the first time home buyer amount from $35000 why do they have to create a whole new thing if it's tax deductible.
JDMDreams is offline   Reply With Quote
This post thanked by:
Old 04-07-2022, 03:21 PM   #21324
Rs has made me the woman i am today!
 
EvoFire's Avatar
 
Join Date: Mar 2006
Location: Vancouver
Posts: 4,133
Thanked 2,976 Times in 1,368 Posts
Failed 58 Times in 33 Posts
Quote:
Originally Posted by Great68 View Post
This whole "home buyer's bill of rights" seems like punishment to sellers for a problem that was 100% caused by buyers.

Things like waiving inspections is not inherently unfair. For those who have valid reasons and can afford the risk it's a tool to make their bid more favorable, no different than offering a higher price.
It's ridiculous that people have to be protected from their own bad decisions.
Not even that, but getting rid of blind bidding will just drive property prices up even higher as now I know what the other guy bid and I can bid 10k more, and then it follows.
EvoFire is offline   Reply With Quote
This post thanked by:
Old 04-07-2022, 03:46 PM   #21325
I *heart* Revscene.net very Muchie
 
Join Date: Jun 2002
Location: Vancouver
Posts: 3,685
Thanked 627 Times in 358 Posts
Failed 20 Times in 17 Posts
Quote:
Originally Posted by JDMDreams View Post
^ it sounds really weird, why not just increase the first time home buyer amount from $35000 why do they have to create a whole new thing if it's tax deductible.
Why would the government want to make things that simple??

Quote:
Originally Posted by EvoFire View Post
Not even that, but getting rid of blind bidding will just drive property prices up even higher as now I know what the other guy bid and I can bid 10k more, and then it follows.
Exactly. Bidding is bidding. Whether it's blind or not. If anything knowing what the other bids are puts more pressure on the buyer when their sleazy realtor pushes their client to win the bid cause FOMO
6thGear. is offline   Reply With Quote
Reply


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 05:39 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net