Coffee Talk VI: The Undiscovered Country

[Bloody Brian Burke]

They sure snuck this past everyone pretty quietly.

Government of Canada Introduces Amendments to Foreign Buyer Ban

On Monday, the Government of Canada announced four amendments to the foreign buyer ban, which are effective immediately.

storeys.com

The Ban No Longer Applies to Vacant Land​

Under the previous regulations, vacant land zoned for residential use or mixed-use with residential could not be purchased by non-Canadians.

The Government of Canada is now repealing that restriction — Section 3(2) — and with the change, non-Canadians can now purchase vacant land zoned for residential use and use it for any purpose.

Basically China free again to buy land all over the place like they do in the US.

 

[puckhead]

They sure snuck this past everyone pretty quietly.

Government of Canada Introduces Amendments to Foreign Buyer Ban

On Monday, the Government of Canada announced four amendments to the foreign buyer ban, which are effective immediately.

storeys.com

The Ban No Longer Applies to Vacant Land​

Under the previous regulations, vacant land zoned for residential use or mixed-use with residential could not be purchased by non-Canadians.

The Government of Canada is now repealing that restriction — Section 3(2) — and with the change, non-Canadians can now purchase vacant land zoned for residential use and use it for any purpose.

Basically China free again to buy land all over the place like they do in the US.

I'm going to see a bunch of 20ish year old houses get knocked down in my neighbourhood.

My house is 6 years old and I am getting mailers from realtors "your property is perfect for redevelopment!'
I know it's a shotgun mailer, but come on.

 

[thedddd]

They sure snuck this past everyone pretty quietly.

Government of Canada Introduces Amendments to Foreign Buyer Ban

On Monday, the Government of Canada announced four amendments to the foreign buyer ban, which are effective immediately.

storeys.com

The Ban No Longer Applies to Vacant Land​

Under the previous regulations, vacant land zoned for residential use or mixed-use with residential could not be purchased by non-Canadians.

The Government of Canada is now repealing that restriction — Section 3(2) — and with the change, non-Canadians can now purchase vacant land zoned for residential use and use it for any purpose.

Basically China free again to buy land all over the place like they do in the US.

I would say 85% of the home rental market in Atlanta is owned by a Chinese person or company that never stepped foot in the US.

 

[puckhead]

I would say 85% of the home rental market in Atlanta is owned by a Chinese person or company that never stepped foot in the US.

there was a while in Vancouver where towers were selling out on prebuild over a weekend.
once complete, they were maybe 25% occupied. They weren't even being rented out. a pure dead money investment.
Sure they have a pied-a-terre in Vancouver, but I think the main motivation is to get assets outside of China.

 

[forty_three]

there was a while in Vancouver where towers were selling out on prebuild over a weekend.
once complete, they were maybe 25% occupied. They weren't even being rented out. a pure dead money investment.
Sure they have a pied-a-terre in Vancouver, but I think the main motivation is to get assets outside of China.

Not to mention how quickly you can fall out of favor with the government, having a place to go in a hurry is helpful.

 

[thedddd]

there was a while in Vancouver where towers were selling out on prebuild over a weekend.
once complete, they were maybe 25% occupied. They weren't even being rented out. a pure dead money investment.
Sure they have a pied-a-terre in Vancouver, but I think the main motivation is to get assets outside of China.

Yep that is it in Atlanta also. I actually had a rental in Atlanta for a while and the real estate broker I went through explained that was the main motive.
His whole business was actually just acting as a leasing broker for homes/condo's/apartments owned by a Chinese person or company.
Worst part is they don't even care about the properties it is all about getting the money out of China.

 

[dash]

I'll just drop this here since we're talking about housing developments - A Fortis BC crew is putting in some gas lines in our neighborhood and they're currently digging up my sidewalk. Wife is already making plans to put in a gas fireplace

 

[thedddd]

I'll just drop this here since we're talking about housing developments - A Fortis BC crew is putting in some gas lines in our neighborhood and they're currently digging up my sidewalk. Wife is already making plans to put in a gas fireplace

Oh good luck!

 

[dash]

Hey, leave Montreal alone...

 

[Bloody Brian Burke]

I'm going to see a bunch of 20ish year old houses get knocked down in my neighbourhood.

My house is 6 years old and I am getting mailers from realtors "your property is perfect for redevelopment!'
I know it's a shotgun mailer, but come on.

Anything in the region is basically "perfect for redevelopment"*. Some of the places they're putting up in Burquitlam, for example, they're just popping up 30 storey condos on streets that are straight up residential and a good 1/2 km from the main arteries. I know there's probably already efforts underway for adjacent lots etc. and it won't be the only one for long but in many cases they're just skipping the whole start on the big streets and go inward thing and the city isn't standing in the way at all.

Yep that is it in Atlanta also. I actually had a rental in Atlanta for a while and the real estate broker I went through explained that was the main motive.
His whole business was actually just acting as a leasing broker for homes/condo's/apartments owned by a Chinese person or company.
Worst part is they don't even care about the properties it is all about getting the money out of China.

At the very least, it should be if our citizens can't buy property in their country they can't buy in ours.

 

[puckhead]

At the very least, it should be if our citizens can't buy property in their country they can't buy in ours.

one of the things about China is you need to have citizenship to own property there
That's why so many in Canada have permanent residency, but won't become citizens. They wouldn't be able to own back home.


funny thing about their policy, it used to be you could only own one home per family.
There were a whole bunch of couples who divorced so they would legally be allowed to own another place.

they did away with that policy, when they needed that 6.5% economic growth rate to stay in place for much longer than it otherwise would have.
Now a bunch of those apartment complexes that were built in the middle of nowhere to prop the economy have been empty for a decade, and are getting razed.

 

[dash]

 

[sbb122]

/this is the body cam footage from two Nashville officers

These police officers went in without thinking twice and probably saved lives.


Unlike the Uvalde TX assholes

 

[dash]

Idaho - And you thought Montana had some issues...

 

[mattola]

 

[dash]

Oh good luck!

Just heard from the wife that Fortis BC is going to hook the gas line direct to our house as part of the work they are doing - Total charge: $15

 

[mooger_35]

If only something could be put in place to rectify this.

 

[mooger_35]

Holy fuck. Actually laughed out loud.

 

[dash]

If only something could be put in place to rectify this.

There have been several posts/tweets that are easy to find regarding how easy it is to acquire firearms in the state of Tennessee. That might be a good place to start.

 

[forty_three]

There have been several posts/tweets that are easy to find regarding how easy it is to acquire firearms in the state of Tennessee. That might be a good place to start.

Wouldn't it be easier to just remove every window in every public building and replace every door with steel blast doors?