BC To Regulate Real Estate, Ontario To Stay Put

The writing is the wall, folks are getting very impatient …

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Anger fuels call for action on red-hot housing market as hundreds …

The Province – Mar 16, 2016
… into the Metro Vancouver market, “wild” speculative activity, shadow flipping, … The benchmark price for a detached home in Greater Vancouver (excluding … In light of public concern, last month the Real Estate Council of B.C. and … conduct and practices, and the effectiveness of licensee regulation.
But,

How should Canada regulate foreign ownership in the housing …

CBC.ca – Mar 7, 2016
B.C. Finance Minister Mike de Jong told CBC News last month that the … sale price of the house, that would massively curb the appeal of buying a heritage ….. Also need to consider Canadian speculation in Vancouver and Toronto’s market. ….Ontario’s densification policies are constraining supply, leading …
Politicians in British Columbia try to be politically correct,

British Columbia Premier Wants to Re-RegulateVancouver’s Insane Real Estate Market

TheStranger.com – ‎Jul 1, 2016‎
Her name is Christy Clark. She is the premier of British Columbia. She now wants to impose rules on the housing market because it has become clear to her, during an election season, that it can’t regulate itself.

‘We are going to end the right of the BC real estate sector to self regulate,’ premier says

B.C. Premier Christy Clark says the government is ending self regulation for the B.C. real estate industry. “The real estatesector has had 10 years to get it right on self regulation and they haven’t,” said Clark at a Vancouver new conference. Clark …

British Columbia vows to tighten oversight of real estate industry

– ‎Jun 29, 2016‎
The move by the Canadian province comes the day after an independent advisory board released a blistering report on shortcomings in its real estate industry and recommended sweeping changes to how the sector is regulated. Premier Christy Clark …
And politicians are capitalising on the issue,

NDP propose task force on fraud and money-laundering in Metro Vancouver housing market

Vancouver Sun – ‎Jun 29, 2016‎
Citing audits by the Financial Transactions and Reports Analysis Centre of Canada, Horgan said that “FINTRAC did 82 audits, and 55 of the 82 audits of the real estate market in the Lower Mainland did not comply with anti-money laundering regulations.
BC NDP says real estate misconduct is to blame for housing unaffordability 
And initiating Jihad against the rouge opportunists from abroad …

Vancouver mayor’s proposed vacancy tax raises red flags

CBC.ca – ‎Jun 25, 2016

Real estate analyst Michael Ferriera with Urban Analytics, also has concerns. He notes 90 per cent of vacant units are condos or apartments owned by people who can afford to forgo rents.
And plenty of opportunies for those in the finance business …

Former hedge fund owner short-selling Vancouver to save housing market

News1130 – ‎Jul 1, 2016‎
It has nothing to do with supply and demand, and the politicians are owned byreal estate interest,” he says. “You can’t be this tone deaf to what’s going on and allow it to keep happening.
But Ontario doesn’t seem to have the same pressure …

Unlike British Columbia, Ontario real estate to stay self-regulated

Ontario has no plans to change how Canada’ssecond-hottest real estate market is governed, with its self-regulating body arguing it already has many of the safeguards that have been missing in British Columbia, where the industry has just lost the …
Watchdog calls for real estate reforms, penalties of up to $250000 

Ottawa takes multi-level approach to address problems in housing …

The banks are as usual – not very happy to see prices keep going because as the saying goes “the higher you climb the harder you fall”, meaning someday the market will take a reverse turn – Every party must come to an end, all it takes is some kind catalyst (What takes? Now, this is billion dollars question…). And when it does, the magnitude is likely double the way prices are soaring at the moment …
That explains why banks constantly try to tame the house price increasing insanity … Keep the status quo, that’s it.

‘The party will come to an end,’ TD says of housing in Toronto …

The Globe and Mail (subscription) –Jun 17, 2016
“However, barring significant new government regulatory measures to curb housing market speculation later this … is a 2017 story where B.C. prices are at risk of modest decline (2-4 per …Ontario should move into a sideways market in 2017, also due to …

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