It’s just after dark in ancouver
ancouver’s downtown financial district, on a chilly autumn evening, and I’m gazing up at the twisting, triangular, neo-futurist Trump International Hotel & Tower, rising 63 storeys and 188 metres into the air. If you’re impressed by tall things, the Trump tower is pretty tall. […]
This is the initial reactions we found people get at every turn from Vancouver to Scotland resorts at Trump.
From where I stand, the Vancouver Trump International Hotel & Tower is not particularly welcoming. It’s 7:30 p.m., but I see very few lights on the higher floors, and I wonder who lives in the darkened condominiums in the upper parts of the tower. Below the condos, the hotel occupies the first 15 floors. All over the outside of the property, there are large white bloblike sculptures, as if a giant sneezed.
Essential California: Trump says a DACA deal is off
President Trump on Easter Sunday appeared to rule out efforts to revive deportation protections for hundreds of thousands of young immigrants who were brought illegally to the United States as children, tweeting “NO MORE DACA DEAL!” The president issued a series of combative statements on Twitter, centering on the Deferred Action for Childhood Arrivals program as well as the North American Free Trade Agreement, which he described as a “cash cow” for Mexico. At the same time, he railed against what he described as a dangerous lack of security on the U.S. southern border. Los Angeles Times
This is certainly a deal that should have been struck yet, Trump refuses to budge as millions of immigrants face a tough challenge by the president.
Meanwhile in other areas of the rich immigration: Chinese companies have been among the biggest commercial real estate investors in the Los Angeles area in the last five years, spending more than $5 billion to buy property in the region during that time. That includes the sites of billion-dollar condominium, hotel and retail complexes being built downtown and large airport-area hotels that have been upgraded by their Chinese owners. But they are withdrawing from some high-profile ventures as leaders in Beijing constrict the flow of money out of the country, and that could hurt the L.A. development boom. Los Angeles Times
So many people make dire warnings and predictions about Trump, about what will happen to the country once he’s finished being president, full of apocalyptic gloom and doom. But what if all that happens is that the country becomes more like his vacation properties? What happens if, after all the shouting and crying and offending and accusing and bragging and deregulating and delegitimizing, America’s reputation simply becomes defined as relentlessly mediocre? Perhaps in the great Golf Digest-like ranking of nations, the United States drops from being one of the top countries to being, say, the 46th or 54th best in the world.
In Canada his trump tower reigns high in Vancouver. It is one of the tallest condo hotels in Vancouver and doing extremely well…
Millennials represent 36% of all homebuyers in America today. A new housing community in Ontario, California, called New Haven, reports a millennial homeownership rate of more than 50%. New Haven offers modest homes at affordable prices for the area, from $200,000 to $500,000. California is no paragon of affordability, […]
A student who owned a multi-million dollar Vancouver home has won a B.C. Supreme Court judgment forcing the sale of up to four Vancouver properties, in a complex case that foreshadows a flood of sal
In 2016 Angela An-Chi Chang — who owned a home on the 3300-block West 14th Avenue according to legal filings — sued a person who allegedly failed to complete their purchase of Chang’s home. After a court battle, a judge has now ordered the sale of up to four properties owned by the defendant, in a ruling that could lead to further court battles between multiple bank and private lenders who already have mortgages secured by the defendant’s Vancouver real estate assets.
“We are seeing these court actions because there are so many of these private arrangements, where people have to turn to others for financing,” Usher said. “Or, they might have debts coming due in another country.”
In June 2017, a B.C. Supreme Court judge ruled in Chang’s favour. The judge ordered Hua to pay Chang damages of $583,000, plus legal costs for the case. Chang was also given a mortgage against a Shaughnessy home on the 2000-block West 19th Ave owned by Hua to secure the judgment.
In a 2016 study, global anti-corruption agency Transparency International pointed to the rising use of opaque ownership structures in Vancouver real estate, including shell companies, legal trusts, and so-called nominee owners with occupations such as “student” and “housewife.” The study’s author, Adam Ross, said these occupations are unlikely to produce the income needed to buy a house in Metro Vancouver, which is why housewives and students are considered by some to be opaque buyers.
Vancouver to become new BC capital, government moving to Vancouver Art Gallery building
Vancouver will become the centre of both business and politics of British Columbia under a new scheme of historic proportions proposed by the BC NDP provincial government.
This means nearly all 14,000 bureaucrats that currently work on the southernmost tip of Vancouver Island will be working and living across the Strait of Georgia in Vancouver instead.
“This will be the dawn of a new era in the history of British Columbia,” Premier John Horgan said in a statement. “We are returning the capital to its rightful location in Metro Vancouver, and in the process of this Prosperity Leap we will be providing government with a new setting and location that allows it to be fully efficient and in synch with the business and financial core of our province.”
Altogether, the new BC legislature will have a floor area of about 330,000 sq. ft., which includes 165,000 sq. ft. from the old courthouse building, 85,000 sq. ft. of new underground space below the North Plaza, and 80,000 sq. ft. of space within the existing UBC Robson Square campus.
Economic boom expected in Vancouver
The influx of bureaucrats and government officials in Vancouver could add to the vibrance of downtown Vancouver, with restaurants, hotels, retail, and other service-based businesses standing to benefit from the increased activity of government business. Tourism also stands to benefit.
But not everyone in Metro Vancouver’s business sector will be happy if the plan receives approval. Transportation businesses – float planes, helicopters, and other small short-haul aircraft – that frequently shuttle government officials between the Island and the Lower Mainland could suffer greatly.
es and litigation in Vancouver’s wild market, a real estate lawyer says.
We know you’ve been busy, so here’s your weekly cheat sheet on the most important real estate stories. You’re welcome. Canadian Real Estate The Canadian Mortgage Machine Fires Up Again, As Debt Levels Resume Growth Canadian mortgage debt resumed growth in February, despite taking a break the month before. […]
We know you’ve been busy, so here’s your weekly cheat sheet on the most important real estate stories. You’re welcome.
Canadian mortgage debt resumed growth in February, despite taking a break the month before. Total household debt rose to $2.125 tillion, a 0.5% increase compared to the month before. Of that, $1.523 trillion was mortgage debt, up 0.08% from the month before. The increase may be tiny, but was unexpected after last month’s declines, which were attributed to changes in mortgage rules.
Record household debt levels, mean record household debt payments. Statistics Canada numbers show Canadians devoted $178.11 billion to service their debt. That’s up 5.56% from the same time last year. Despite interest rates being at near historic lows, over $83.126 billion of those payments, were just for interest. Half of that interest was on mortgages.
It’s rumored that “supply and demand” are the first words Canadians learn. However, what’s often not discussed is supply curve manipulation, a concept first observed over 200 years ago. In this article we run through an observation that James Maitland, a.k.a. the 8th Earl of Lauderdale, developed. This concept became known as the “Lauderdale Paradox.” The paradox focuses on artificial scarcity, and uses an example of tobacco farmers burning excess supply, to ensure high prices. Which brings us to this: Is Canadian real estate scare, or is excess supply being burnt?
Juwai, China’s largest overseas real estate portal, is teaming up with JD.com, China’s largest retail company, to sell foreign real estate. The new project, which goes live in April, will see Juwai’s Canadian real estate listings, listed on JD.com’s platform. Buyers in Mainland China can then click on the home they want, and be contacted by a Juwai representative to complete the deal. Buying a Canadian home is now easier in China, than it is in Canada.
REDONDO BEACH, CA – Easter is a holiday of faith, chocolate, bunnies and eggs. This weekend will be full of decorating Easter eggs or stuffing the plastic versions to be found in a hunt. Here’s what the weather will look like for the holiday weekend in Redondo Beach: Friday […]
REDONDO BEACH, CA – Easter is a holiday of faith, chocolate, bunnies and eggs. This weekend will be full of decorating Easter eggs or stuffing the plastic versions to be found in a hunt. Here’s what the weather will look like for the holiday weekend in Redondo Beach:
Patchy dense fog before 11am. Otherwise, mostly sunny, with a high near 67. Northeast wind 5 to 10 mph becoming west in the morning. Winds could gust as high as 15 mph.
Patchy fog after 11pm. Otherwise, mostly cloudy, with a low around 56.
Patchy fog before 11am. Otherwise, partly sunny, with a high near 65.
Patchy fog before 11am. Otherwise, partly sunny, with a high near 65.
Partly cloudy, with a low around 55.
Redondo Beach Police responded to the area of Vista del Mar and Camino de la Costa after a social media threat was reported, police said. (David Rosenfeld, Staff) 1 of 3 A social media photo sent from one individual to another turned into a police investigation in south Redondo […]
A social media photo sent from one individual to another turned into a police investigation in south Redondo Beach, Thursday morning, March 29.
The photo, sent as part of a reported conflict between two individuals on social media, depicted a man holding a rifle.
“We got a call from a responsible party who said they’d received a picture on a social media site of an individual and that individual was holding a firearm in the picture,” Redondo Beach police Lt. Todd Haywood said. “Apparently they were having some kind of conflict on social media.”
Police were evaluating whether criminal charges will be filed and a medical evaluation team is working with the individual who sent the photo, Haywood said.
Areas covered by B.C.’s speculation tax include Metro Vancouver, Kelowna, West Kelowna, Nanaimo-Lantzville, Abbotsford, Chilliwack, Mission and the Capital Regional District around Victoria on southern Vancouver Island, excluding the Gulf Islands and Juan de Fuca. Metro Vancouver’s development sector is asking the B.C. government for an exemption to the […]
Metro Vancouver’s development sector is asking the B.C. government for an exemption to the new real estate speculation tax for bare land.
The Ministry of Finance could not provide a spokesmen to speak on the record about the UDI complaint.
David Eby says it’s part of an ongoing push to kill Vancouver’s reputation as a haven for money laundering.
“The fact that we don’t know who owns almost half of the most valuable properties in Vancouver, and we don’t know where the money came from, is really disturbing.”
VANCOUVER (NEWS 1130) – Soon after putting casinos under the microscope to expose evidence of criminal behaviour, BC’s Attorney General is ready to do the same thing with high-priced housing.
“With alleged proceeds of crime, we’ve got some work to do and that’s why I’m asking Peter German to do a second phase of his review and we’ve not yet set out the terms of reference yet, but we’re very aware this issue needs to be addressed.”
Eby admits he’s concerned about criminals using vancouver real estate purchases to hide dirty money. This is true from Vancouver resorts like trump tower as well.
The report German was hired to write in September on possible money laundering at local casinos is due Saturday, March 31st, but Eby’s already reporting a significant drop in suspicious cash transactions.
“Our February total was $200,000. The July, 2015 total for suspicious cash transactions was $20-million, so we’ve reduced it by a factor of 100, but I don’t believe that solves the problem. I believe that money is moved elsewhere.”
Members of the House of Commons finance committee are currently updating the Proceeds of Crime and Terrorist Financing Act.
he microscope to expose evidence of criminal behaviour, BC’s Attorney General is ready to do the same thing with high-priced housing. David Eby says it’s part of an ongoing push to kill Vancouver’s reputation as […]