INSERT INTO `awfkc_posts` VALUES (10220,0,'2016-04-22 10:54:58','2016-04-22 14:54:58','','2011 Audi A4 Start Up and Review 2.0 L Turbo 4-Cylinder','','inherit','open','closed','','2011-audi-a4-start-up-and-review-2-0-l-turbo-4-cylinder-2','','','2016-04-22 10:54:58','2016-04-22 14:54:58','',10219,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2011-audi-a4-start-up-and-review-2-0-l-turbo-4-cylinder-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10221,0,'2016-04-22 10:54:58','2016-04-22 14:54:58','','2011 Audi A4 Start Up and Review 2.0 L Turbo 4-Cylinder','','inherit','open','closed','','2011-audi-a4-start-up-and-review-2-0-l-turbo-4-cylinder-2','','','2016-04-22 10:54:58','2016-04-22 14:54:58','',10219,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2011-audi-a4-start-up-and-review-2-0-l-turbo-4-cylinder-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10222,0,'2016-04-22 10:54:58','2016-04-22 14:54:58','','2011 Audi A4 Start Up and Review 2.0 L Turbo 4-Cylinder','','inherit','open','closed','','2011-audi-a4-start-up-and-review-2-0-l-turbo-4-cylinder-3','','','2016-04-22 10:54:58','2016-04-22 14:54:58','',10219,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2011-audi-a4-start-up-and-review-2-0-l-turbo-4-cylinder-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10223,0,'2016-04-22 10:54:59','2016-04-22 14:54:59','','2011 Audi A4 Start Up and Review 2.0 L Turbo 4-Cylinder','','inherit','open','closed','','2011-audi-a4-start-up-and-review-2-0-l-turbo-4-cylinder-4','','','2016-04-22 10:54:59','2016-04-22 14:54:59','',10219,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2011-audi-a4-start-up-and-review-2-0-l-turbo-4-cylinder-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10224,1,'2016-04-22 08:04:09','2016-04-22 12:04:09','<div id=\"attachment_120794\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img class=\"size-large wp-image-120794\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg\" alt=\"(Barrett &amp; MacKay/Getty Images)\" width=\"1024\" height=\"690\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-300x202.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg 1024w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-660x444.jpg 660w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" /><p class=\"wp-caption-text\">(Barrett &amp; MacKay/Getty Images)</p></div>\n<p><b></b><span style=\"font-weight: 400;\">Vancouver&#8217;s real estate market is messed up. It&#8217;s really messed up. As a result it&#8217;s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada&#8217;s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland. </span></p>\n<h3><b>No. 1: Foreign buyers</b></h3>\n<p><span style=\"font-weight: 400;\">It’s not very Canadian to discuss the impact of immigration, particularly if it’s negative. But the truth is the Vancouver real estate market <em>has</em> felt the impact of foreign money—in particular, money from rich foreigners. Much of this money comes from mainland China. Also not a very Canadian thing to say. But it’s true. How do we know? Because the phenomenon has been tracked, studied and recorded—and not just in Vancouver. </span></p>\n<p>Data collected by David Ley shows how, over the last few decades, metro Vancouver has become similar to other Pacific Rim “gateway” cities, such as Hong Kong, Singapore, London and Sydney. Each of these gateway cities have rising housing costs that are fuelled by high immigration-driven population growth and foreign investors.</p>\n<p>“In every one of these cities the market is being driven by something other than owner-occupiers. Not just new immigrants, but investors, including offshore investment,” explains Ley. Through his analysis, Ley discovered that in the last 25 years, there’s been an almost 1-to-1 correlation between Vancouver’s rising real estate prices and the surge in international immigration and offshore investors to this West-coast city.</p>\n<p>Ley isn&#8217;t the only one tracking this trend. University of Waterloo geographer Markus Moos and Queen’s University planner Andrejs Skaburskis back up Ley’s findings. Both Moos and Skaburskis concede that Vancouver is an “exceptional” example of how “globalization” can affect a local housing market.</p>\n<p>The biggest contributor to these rising housing prices is that these immigrants not only arrive with great wealth, but continue to earn high incomes outside of Canada. This accumulation and access to money and its investment in Vancouver property led to a “decoupling of housing from local labour market participation,” wrote Moos and Skaburskis.</p>\n<p>Even data released by the city of Vancouver backs up the assertions by these scholars. According to district data virtually nine out of 10 newcomers in the past 20 years were born outside the country—mostly in Asia. City data also shows that many of these new property owners are “circulatory migrants”—foreigners who invest in property in Canada while working offshore.</p>\n<p>Some detractors of this data argue that rich foreigners only invest in luxury properties—purchases that don&#8217;t impact neighbourhoods (and prices) where regular, middle-class Vancouverites choose to buy homes. But that’s just not true.</p>\n<p>Ley describes the impact as a “trickle-down effect,” which occurs when rich immigrants and investors push up housing prices across the entire lower mainland real estate market. It’s a phenomenon that Andy Yan, an urban planning researcher and adjunct professor at University of British Columbia (UBC), has been documenting for years. He turned his <a href=\"http://www.slideshare.net/ayan604/ownership-patterns-of-single-family-homes-sales-on-the-west-side-neighborhoods-of-the-city-of-vancouver-a-case-study\" >data and research</a> into maps that document the growth of home prices in metro Vancouver. In the first map (below) there are virtually no properties east of Main Street listed for over $1 million.</p>\n<div id=\"attachment_153022\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153022\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png\" alt=\"(Andy Yan, 2014 / BTA Works)\" width=\"498\" height=\"421\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014-300x254.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png 498w\" sizes=\"(max-width: 498px) 100vw, 498px\" /><p class=\"wp-caption-text\">(Andy Yan, 2014 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The second map (below) shows 2015 home prices in metro Vancouver. Notice how many of the homes east of Main Street are now priced at $1 million or more. </span></p>\n<div id=\"attachment_153024\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153024\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png\" alt=\"(Andy Yan, 2015 / BTA Works)\" width=\"529\" height=\"408\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015-300x231.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png 529w\" sizes=\"(max-width: 529px) 100vw, 529px\" /><p class=\"wp-caption-text\">(Andy Yan, 2015 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The final map (below) shows 2016 housing prices. Notice how the number of houses selling for over $1 million has increased dramatically. Now, the sea of red spreads past metro Vancouver and into the inner suburbs. </span></p>\n<div id=\"attachment_153026\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153026\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png\" alt=\"(Andy Yan, 2016 / BTA Works) \" width=\"524\" height=\"407\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016-300x233.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png 524w\" sizes=\"(max-width: 524px) 100vw, 524px\" /><p class=\"wp-caption-text\">(Andy Yan, 2016 / BTA Works)</p></div>\n<p>“It’s not as if you can draw a clear partition. The property values in the west side influence the prices in the east side. Demand is just deflected, for example, from Kitsilano to Main Street and Commercial Drive,” says Ley. Now, the problem extends well beyond the city limits and into the suburbs.</p>\n<p>“Some investors are buying a few houses at the same time,” states one exasperated reader. “Some of the deals are even arranged remotely from overseas. This will eventually mean that more and more people will have no choice but to look for jobs in other provinces.”</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\">Canada&#8217;s best deals in real estate 2016 » </a></p>\n<h3><b>No. </b><b>2: Ineffective regulation</b></h3>\n<p><span style=\"font-weight: 400;\">But foreign buyers aren’t the only culprits in Vancouver’s messy real estate market. Fast money, unscrupulous people, and a general malaise when it comes to defining and enforcing bad conduct has taken its toll on the city. </span></p>\n<p><span style=\"font-weight: 400;\">A recent </span><a href=\"http://www.theglobeandmail.com/news/investigations/inside-a-fast-growing-bc-firm-that-has-home-sellers-crying-foul/article29578417/\" ><span style=\"font-weight: 400;\"><em>Globe and Mail</em> investigation</span></a><span style=\"font-weight: 400;\"> found that Vancouver real estate agents who were disciplined for wrongdoing faced fines and suspensions that were nothing short of a joke when compared to the hefty commissions earned on real estate transactions. The <em>Globe</em>’s report showed that of the more than 100 recent disciplinary proceedings, some confidential, the fines averaged out at $4,850. Compare this to the potential commission on a $1.78-million home—the average price paid in metro Vancouver in the first quarter of 2016—which works out to $22,500, and you can see why some agents simply consider these fines as the cost of doing business.</span></p>\n<p>What’s worse is the <em>Globe and Mail</em> investigation found that only a fraction of agents lost their licences over misconduct. Those who did receive a suspension were barred, on average, from practising for six weeks. In comparison, the Fraser Valley Real Estate Board—the private board in charge of lower mainland real estate, such as Langley and Abbotsford—is known for much stiffer penalties for realtors that breach ethics or regulations.</p>\n<p>“Some people have done some really bad things and they just get a slap on the wrist,” says Janet Mackenzie, a Vancouver regulatory affairs executive, who spoke to the <em>Globe</em>, late last year. “Having [agents] policing [agents] has shown to not be the best model.”</p>\n<p>Mackenzie actually found herself in the middle of the problem when her own real estate agent forged her signature during a condo deal a few years ago. Mackenzie lodged a complaint with the Real Estate Council of B.C. (RECBC), the self-regulating body for the province’s real estate industry. She had to wait two years before RECBC made a ruling—part of it was public and part was private. Publicly, Mackenzie was told her agent was fined $1,250 and given a four month suspension. Privately, RECBC also imposed a $10,000 fine and banned the agent from using the Multiple Listings Service for a year. But it wasn&#8217;t until the <em>Globe</em>&#8216;s investigation that Mackenzie even learned of this subsequent penalty.</p>\n<p>Then there was the recent case that involved New Coast Realty. The brokerage was home to 445 real estate agents and was run by 42-year-old Ze Yu Wu, a permanent resident who moved to Canada from China a year ago, and an unlicensed trainer who taught and encouraged his agents to low-ball and lie to potential sellers in order to earn bigger commissions re-selling the listed homes.</p>\n<blockquote><p><i><span style=\"font-weight: 400;\">In a transcript from the <a href=\"http://www.theglobeandmail.com/real-estate/vancouver/vancouver-real-estate-agents-face-weak-penalties-for-misconduct/article29549072/\" >Globe’s investigation</a>, Wu is heard saying:<br />\n</span></i><span style=\"font-weight: 400;\">“You must print out the lowest prices in the neighbourhood to show to the homeowner. It is very critical to print out low sale prices in the neighbourhood.”</span></p></blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the release of the Globe&#8217;s investigative report, RECBC swooped in to issue licence conditions on New Coast Realty that included the appointment of a new RECBC-approved broker manager, hiring a trainer that was a licensed realtor and complying with conditions imposed on the firm. Thing is, Wu got off relatively scot-free. As an unlicensed trainer (who doesn&#8217;t actually practice real estate sales) he is not bound to the regulations that are imposed on licensed real estate agents. At the heart of these regulations is the notion that a real estate agent must act in their clients’ interests or risk disciplinary action. </span></p>\n<p>Despite the transgressions, New Coast Realty is still operating. And Wu is still making money—and will, as long as realtors pay their office fees and earn a commission.</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-vancouver-top-neighbourhoods/\">Vancouver’s top neighbourhoods » </a></p>\n<h3><b>No. 3: Re-emergence of shadow flipping</b></h3>\n<p><span style=\"font-weight: 400;\">The big reason why Wu and others push for quick home sales is because they can then turn around and resell that property to another buyer—usually at a much higher price. The agent has now earned two commissions on one property, usually within weeks of the initial sale of the home. It’s a process known as <a href=\"http://www.moneysense.ca/spend/real-estate/recent-real-estate-fraud-sparks-calls-for-change/\" >shadow flipping</a>, although it’s legally known as an assignment sale. </span></p>\n<p>An assignment sale allows the current registered buyer of a property to sell their ownership in the property to another interested buyer, even before the first sale is finalized. The use of assignment sales is most common in the arena of new build condos. It’s not uncommon for Canadian new build condo units to change ownership two, three, even four times before the condo building and its units are actually ready for occupation.</p>\n<p><span style=\"font-weight: 400;\">Here’s the rub: In most provinces in Canada, the sales document does</span><span style=\"font-weight: 400;\"> not automatically give a buyer the option to resell their rights to the property. In most provinces, an extra clause or an entirely separate contract must be completed by both the buyer and the initial seller. This helps keep all transactions and intentions totally transparent.</span></p>\n<p><span style=\"font-weight: 400;\">But this isn’t the case if you&#8217;re doing a real estate deal in B.C.’s lower mainland. In Vancouver, an assignment is part of the assumed package of rights that any seller passes onto the buyer. No other notification is needed, or given, as one </span><a href=\"http://www.theglobeandmail.com/news/national/assignment-flipping-feeding-into-speculative-real-estate-market-in-bc/article28634868/\"><span style=\"font-weight: 400;\">West Vancouver couple</span></a><span style=\"font-weight: 400;\"> learned when their recently sold home was re-listed and resold for more than $1 million more than their final sale price. </span></p>\n<p>So much for transparency.</p>\n<p>In the wake of the negative media headlines, RECBC opted to assign an advisory group to come up with deterrents for a list of questionable practices. Under current B.C. law, RECBC or other real estate boards, can fine a real estate agent a maximum of $10,000. To put this in perspective, in Alberta and Ontario the maximum fine is $25,000 for similar misconduct.</p>\n<p><span style=\"font-weight: 400;\">Still, the council’s actions might be a little too late. B.C. Premier, Christy Clark, recently promised the potential of provincial regulations that would impose tougher penalties for those that try to skirt around current and future regulations. One reason why the province may have decided to act independently of the council is that this isn’t the first time B.C.’s lower mainland has faced shadow flipping problems. In the mid-2000s, during a condo boom, assignment sales were so common that some developers put in clauses to forbid them. The rationale was that hot, frothy markets fuelled by money and speculation would drive up the price and could, potentially, create an unsustainable bubble. Not only that, but as early as </span><span style=\"font-weight: 400;\"> <a href=\"http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/\" >May 2008</a>, the provincial office of the superintendent of real estate released a consumer alert that warned of the risks associated with the assignment of contracts.</span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<h3><b>No. 4: Everything is easier with technology</b></h3>\n<p><span style=\"font-weight: 400;\">Another contributing factor is the ease with which technology has shortened the distance on what used to be a localized economic decision. These days, foreign investors don&#8217;t even need to step foot into Canada to snap up some of the most exclusive real estate in B.C.’s lower mainland. Take, for example, the December 2015 sale of the </span><a href=\"http://www.vancouversun.com/business/Priciest+Metro+Vancouver+homes+draw+buyers+from+China/10875651/story.html\" ><span style=\"font-weight: 400;\">$51.8-million Point Grey mansion</span></a><span style=\"font-weight: 400;\"> (that takes up three building lots and overlooks the ocean). The buyer was Mailin Chen, a businessman from mainland China, and it’s reported that he never even left his home in China to purchase his new Vancouver mansion. (Nor did he buy the home himself. His Vancouver-based company, Chunghwa Investment (Canada) Co. Ltd, did—a company that was incorporated in March 2010 and has an office on Howe Street in downtown Vancouver.)</span></p>\n<p><span style=\"font-weight: 400;\">While Chen’s transaction was legal and transparent, there have been reports that some brokerages and websites aren&#8217;t following the same narrow guidelines when it comes to access to listings. In mid-April of this year, </span><em><a href=\"http://globalnews.ca/news/2637687/critics-say-new-shanghai-based-website-gives-foreign-buyers-first-dibs-on-vancouver-homes/\" ><span style=\"font-weight: 400;\">Global News</span></a></em><span style=\"font-weight: 400;\"> reported that a </span><a href=\"http://www.vanfun.com/\" ><span style=\"font-weight: 400;\">Chinese-language website</span></a><span style=\"font-weight: 400;\">, owned by a company in Shanghai, allegedly pulled information from the Canadian MLS system before the information was made public. As is standard practice throughout most provinces in Canada, all new sales listings are entered into MLS, but aren’t made available to the public for 24 to 72 hours (depending on where you are in Canada). But making this information available to only a segment of the open market has raised </span><span style=\"font-weight: 400;\">concerns that</span><span style=\"font-weight: 400;\"> foreign buyers, investing in Metro Vancouver’s hot real estate market, are getting an unfair jump on new listings. Five days later, RECBC issues a notice stating that they’re looking into the transgression not just on the Vanfun.com site, but also on other similar sites. </span></p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-top-25-vancouver-neighbourhoods-to-buy-in/\">Top 25 Vancouver neighbourhoods to buy in » </a></p>\n<h3><b>No. 5: Money laundering</b></h3>\n<p><span style=\"font-weight: 400;\">Then there are the growing problems of money laundering, </span><a href=\"http://www.theprovince.com/video+tackling+money+laundering+fraud+evasion+vancouver+real+estate/11821480/story.html\" ><span style=\"font-weight: 400;\">fraud and tax evasion</span></a><span style=\"font-weight: 400;\">. </span><span style=\"font-weight: 400;\">The </span><a href=\"https://www.facebook.com/MetroVancouverResidents2016/\" ><span style=\"font-weight: 400;\">Housing Action for Local Taxpayers</span></a><span style=\"font-weight: 400;\">, an advocacy group with an aim to hold politicians accountable for housing affordability, </span><a href=\"http://www.theglobeandmail.com/news/national/vancouver-housing-market-vulnerable-to-money-laundering/article29285770/\" ><span style=\"font-weight: 400;\">says that</span></a><span style=\"font-weight: 400;\"> “houses have become opaque cash banks where funds from offshore can find nice safe places to hide—and there’s no need to show a return on the investment as the primary objective is to hide the funds from overseas tax authorities.”</span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that over the past 12 months, dozens of B.C. real estate brokerages have been caught with “significant” or “very significant” deficiencies, explains </span><em><a href=\"http://www.theglobeandmail.com/try-it-now/?articleId=27640202\"><span style=\"font-weight: 400;\">The Globe and Mail</span></a></em><span style=\"font-weight: 400;\">. The discovery was made when the Financial Transactions and Reports Analysis Centre (FINTRAC), which enforces the federal anti-money-laundering laws, decided to step up scrutiny over worries that money, primarily from China, was being laundered through Vancouver real estate. “There were concerns being raised that those in the real estate sector were not fulfilling the obligations under the act,” said FinTRAC spokesperson Darren Gibb. He added that: “The real estate sector is highly vulnerable to money laundering.” As a result of their investigation, FinTRAC found that some real estate agents were neglecting to get proper ID from clients, such as drivers’ licences or passports; failed to verify sources of money; and some brokerage firms simply didn&#8217;t report suspicious or large cash transactions, an obligation under anti-money-laundering laws.</span></p>\n<p><span style=\"font-weight: 400;\">Dan Zitting, chief product officer for Vancouver “big data” analytics firm </span><a href=\"http://www.acl.com/\"><span style=\"font-weight: 400;\">ACL</span></a><span style=\"font-weight: 400;\">, is an expert on detecting patterns of crime in vast pools of data. In recent <em>Globe and Mail</em> and <em>Vancouver Sun</em> interviews, he explained his fears of widespread fraud in B.C.’s property market. “Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of FINTRAC’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”</span></p>\n<p>The Canadian Real Estate Association (CREA), which leads industry training on anti-money-laundering compliance, retorted recently stating that though there were issues, the real problem lay with FINTRAC. CREA called the federal agency’s training webinar “clearly insufficient.” CREA also points out that to help realtors and brokerages, they invested “heavily” in hiring two staff and commissioning outside firms to help bring real estate agents up to speed. “It would be nice if FINTRAC would invest similar time and effort,” said Randall McCauley, CREA’s vice-president of government and public relations. Mr. McCauley calls it “ridiculous” to expect individual real estate agents to have the same infrastructure as banks or casinos to track clients.</p>\n<p>McCauley also points out that the basic infrastructure of the regulations shows a complete “lack of understanding” of the industry. “A huge percentage of our members help individuals sell, then buy a home within days or weeks,” McCauley said. He wonders: Why the increased scrutiny of any buyer who completes two transactions within five years?</p>\n<h3><b>No. 6: The bar is too low</b></h3>\n<p><span style=\"font-weight: 400;\">Despite the problems, people keep pouring into the city and into the Vancouver real estate industry. There are now more than 12,400 agents in the Vancouver area—up 24% from five years ago. Some say that the growth in this profession, along with the increased errors and broken regulations, are due, in part, to the low bar of entry into the field of real estate. One Re/Max realtor stated, in a recent <em>Globe and Mail</em> article, that he wasn’t surprised by all the errors and omissions (and commissions). “It’s too easy to become a realtor in British Columbia, so the level of compliance is going to be a problem,” says Keith Roy, a real estate agent who also sits on the professional-conduct committee of the Real Estate Board of Greater Vancouver (REBGV), the member-based association that represents licensed real estate agents in the area. “The No. 1 way to increase public protection is to have more than a 10-week online course to get your licence.”</span></p>\n<h3><b>No. 7: Lack of unbiased info</b></h3>\n<p><span style=\"font-weight: 400;\">Vancouver&#8217;s growing housing dilemma has put the city on the top of unaffordable lists everywhere. Recently, Demographia ranked the West-coast city as the second most unaffordable city out of 325 around the world. The only city to beat Vancouver from claiming the top spot: Hong Kong. </span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that no one wants to <em>appear</em> to be killing the cash cow. Worse, is that reliable, unbiased information is hard to come by. In the last year, Ian Young, a reporter at the <em>South China Morning Post</em> <a href=\"http://www.theglobeandmail.com/real-estate/in-vancouver-race-undercuts-the-discussion-on-affordability/article19873510/\" >highlighted how</a> the Centre for Urban Economics and Real Estate, run by UBC business professor Tsur Somerville—the academic most often quoted in the media regarding Vancouver&#8217;s housing issues—</span><span style=\"font-weight: 400;\">receives part of its funding from developers. Turns out so do some of the city&#8217;s so-called urban think-tanks—the supposed thought-leaders on urban development. </span></p>\n<p><span style=\"font-weight: 400;\">Yet, those with no personal or professional stake in the discussion—such as <span style=\"font-weight: 400;\">Yan, <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >Elizabeth Murphy</a>, a private-sector project manager, David Wachsmuth, a former UBC urban geographer, now an urban planning assistant professor at McGill, SFU&#8217;s Andrey Pavlov and B.C’s meticulous urban geographer, </span><span style=\"font-weight: 400;\"><a href=\"http://blogs.vancouversun.com/2014/06/27/why-vancouver-housing-is-unaffordable-and-what-to-do-about-it/\" >David Ley (author of Millionaire Migrants)</a>—end up dominating headlines for the wrong reasons. When Ley released his findings last year on the impact of high immigration rates and foreign ownership have on real estate prices, </span></span>Somerville and others tossed out labels of &#8220;racist&#8221; and &#8220;xenophobic.&#8221;</p>\n<h3><b>No. 8: Vancouver wants to grow</b></h3>\n<p><span style=\"font-weight: 400;\">So, why this push for more homeowners and a greater proportion of international investment money? Because the City of Vancouver wants to grow. City personnel suggest that an increase to market residential zoning needs to expand in order to accommodate the million or more people that will settle in the city by 2041. Problem is, this estimated growth is for the entire lower mainland, with only a small fraction establishing a home in the City of Vancouver.</span></p>\n<p><a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" ><span style=\"font-weight: 400;\">Elizabeth Murphy</span></a><span style=\"font-weight: 400;\">, a private-sector project manager and former property development officer with the City of Vancouver’s Housing and Properties Department and for BC Housing, believes that the city’s rezoning and building plans are anything but transparent. She is convinced that the push for major builds, such as large condo towers, is motivated by those who will benefit financially. She sees the arguments that there is a lack of supply to be misleading and believes that the city is actually overbuilding by approximately 2,000 units every five years. The key, according to Murphy, is not more housing units, but better-suited housing units. She believes metro Vancouverites end up in a position of having to rent out units because the units built are expensive and only “serve to promote Vancouver as an investment commodity rather than a planned community.”</span></p>\n<p>Murphy is also concerned that this will have a long-lasting impact on current residents. “What <span style=\"font-weight: 400;\">most people don’t understand is that all this growth doesn’t make the city any money. On the contrary, the city has to subsidize all this growth. The development fees collected by the city only cover a small fraction, about 10%, of the actual costs of servicing the infrastructure for development and the population growth it brings. The massive development that has been completed over that last few decades has served to increase property taxes and the city’s debt,” <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >she writes</a>.</span></p>\n<p>While some growth in any city is inevitable, Murphy and other critics are trying to open up the discussion about how and what to build. “There are many options as to how growth is implemented. There are choices to be made. A concrete jungle of energy-hog glass towers with ugly and expensive monster houses is not inevitable. We can do better.”</p>\n<p><span style=\"font-weight: 400;\">Up next: How Vancouver&#8217;s unaffordable real estate market could seriously impact the future of this city. </span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">8 reasons why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','8 reasons why Vancouver real estate prices are so crazy','<p>From foreign buyers, to unscrupulous agents, here are the mitigating factors that help to push prices up </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">8 reasons why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10191-revision-v1','','','2016-04-22 08:04:09','2016-04-22 12:04:09','',10191,'http://feedwordpress.radgeek.com/?rev=bf2dd7a439b7d678801f0a51b333260f',0,'revision','',0),(10225,1,'2016-04-22 08:04:09','2016-04-22 12:04:09','<div id=\"attachment_120794\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img class=\"size-large wp-image-120794\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg\" alt=\"(Barrett &amp; MacKay/Getty Images)\" width=\"1024\" height=\"690\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-300x202.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg 1024w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-660x444.jpg 660w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" /><p class=\"wp-caption-text\">(Barrett &amp; MacKay/Getty Images)</p></div>\n<p><b></b><span style=\"font-weight: 400;\">Vancouver&#8217;s real estate market is messed up. It&#8217;s really messed up. As a result it&#8217;s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada&#8217;s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland. </span></p>\n<h3><b>No. 1: Foreign buyers</b></h3>\n<p><span style=\"font-weight: 400;\">It’s not very Canadian to discuss the impact of immigration, particularly if it’s negative. But the truth is the Vancouver real estate market <em>has</em> felt the impact of foreign money—in particular, money from rich foreigners. Much of this money comes from mainland China. Also not a very Canadian thing to say. But it’s true. How do we know? Because the phenomenon has been tracked, studied and recorded—and not just in Vancouver. </span></p>\n<p>Data collected by David Ley shows how, over the last few decades, metro Vancouver has become similar to other Pacific Rim “gateway” cities, such as Hong Kong, Singapore, London and Sydney. Each of these gateway cities have rising housing costs that are fuelled by high immigration-driven population growth and foreign investors.</p>\n<p>“In every one of these cities the market is being driven by something other than owner-occupiers. Not just new immigrants, but investors, including offshore investment,” explains Ley. Through his analysis, Ley discovered that in the last 25 years, there’s been an almost 1-to-1 correlation between Vancouver’s rising real estate prices and the surge in international immigration and offshore investors to this West-coast city.</p>\n<p>Ley isn&#8217;t the only one tracking this trend. University of Waterloo geographer Markus Moos and Queen’s University planner Andrejs Skaburskis back up Ley’s findings. Both Moos and Skaburskis concede that Vancouver is an “exceptional” example of how “globalization” can affect a local housing market.</p>\n<p>The biggest contributor to these rising housing prices is that these immigrants not only arrive with great wealth, but continue to earn high incomes outside of Canada. This accumulation and access to money and its investment in Vancouver property led to a “decoupling of housing from local labour market participation,” wrote Moos and Skaburskis.</p>\n<p>Even data released by the city of Vancouver backs up the assertions by these scholars. According to district data virtually nine out of 10 newcomers in the past 20 years were born outside the country—mostly in Asia. City data also shows that many of these new property owners are “circulatory migrants”—foreigners who invest in property in Canada while working offshore.</p>\n<p>Some detractors of this data argue that rich foreigners only invest in luxury properties—purchases that don&#8217;t impact neighbourhoods (and prices) where regular, middle-class Vancouverites choose to buy homes. But that’s just not true.</p>\n<p>Ley describes the impact as a “trickle-down effect,” which occurs when rich immigrants and investors push up housing prices across the entire lower mainland real estate market. It’s a phenomenon that Andy Yan, an urban planning researcher and adjunct professor at University of British Columbia (UBC), has been documenting for years. He turned his <a href=\"http://www.slideshare.net/ayan604/ownership-patterns-of-single-family-homes-sales-on-the-west-side-neighborhoods-of-the-city-of-vancouver-a-case-study\" >data and research</a> into maps that document the growth of home prices in metro Vancouver. In the first map (below) there are virtually no properties east of Main Street listed for over $1 million.</p>\n<div id=\"attachment_153022\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153022\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png\" alt=\"(Andy Yan, 2014 / BTA Works)\" width=\"498\" height=\"421\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014-300x254.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png 498w\" sizes=\"(max-width: 498px) 100vw, 498px\" /><p class=\"wp-caption-text\">(Andy Yan, 2014 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The second map (below) shows 2015 home prices in metro Vancouver. Notice how many of the homes east of Main Street are now priced at $1 million or more. </span></p>\n<div id=\"attachment_153024\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153024\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png\" alt=\"(Andy Yan, 2015 / BTA Works)\" width=\"529\" height=\"408\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015-300x231.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png 529w\" sizes=\"(max-width: 529px) 100vw, 529px\" /><p class=\"wp-caption-text\">(Andy Yan, 2015 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The final map (below) shows 2016 housing prices. Notice how the number of houses selling for over $1 million has increased dramatically. Now, the sea of red spreads past metro Vancouver and into the inner suburbs. </span></p>\n<div id=\"attachment_153026\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153026\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png\" alt=\"(Andy Yan, 2016 / BTA Works) \" width=\"524\" height=\"407\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016-300x233.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png 524w\" sizes=\"(max-width: 524px) 100vw, 524px\" /><p class=\"wp-caption-text\">(Andy Yan, 2016 / BTA Works)</p></div>\n<p>“It’s not as if you can draw a clear partition. The property values in the west side influence the prices in the east side. Demand is just deflected, for example, from Kitsilano to Main Street and Commercial Drive,” says Ley. Now, the problem extends well beyond the city limits and into the suburbs.</p>\n<p>“Some investors are buying a few houses at the same time,” states one exasperated reader. “Some of the deals are even arranged remotely from overseas. This will eventually mean that more and more people will have no choice but to look for jobs in other provinces.”</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\">Canada&#8217;s best deals in real estate 2016 » </a></p>\n<h3><b>No. </b><b>2: Ineffective regulation</b></h3>\n<p><span style=\"font-weight: 400;\">But foreign buyers aren’t the only culprits in Vancouver’s messy real estate market. Fast money, unscrupulous people, and a general malaise when it comes to defining and enforcing bad conduct has taken its toll on the city. </span></p>\n<p><span style=\"font-weight: 400;\">A recent </span><a href=\"http://www.theglobeandmail.com/news/investigations/inside-a-fast-growing-bc-firm-that-has-home-sellers-crying-foul/article29578417/\" ><span style=\"font-weight: 400;\"><em>Globe and Mail</em> investigation</span></a><span style=\"font-weight: 400;\"> found that Vancouver real estate agents who were disciplined for wrongdoing faced fines and suspensions that were nothing short of a joke when compared to the hefty commissions earned on real estate transactions. The <em>Globe</em>’s report showed that of the more than 100 recent disciplinary proceedings, some confidential, the fines averaged out at $4,850. Compare this to the potential commission on a $1.78-million home—the average price paid in metro Vancouver in the first quarter of 2016—which works out to $22,500, and you can see why some agents simply consider these fines as the cost of doing business.</span></p>\n<p>What’s worse is the <em>Globe and Mail</em> investigation found that only a fraction of agents lost their licences over misconduct. Those who did receive a suspension were barred, on average, from practising for six weeks. In comparison, the Fraser Valley Real Estate Board—the private board in charge of lower mainland real estate, such as Langley and Abbotsford—is known for much stiffer penalties for realtors that breach ethics or regulations.</p>\n<p>“Some people have done some really bad things and they just get a slap on the wrist,” says Janet Mackenzie, a Vancouver regulatory affairs executive, who spoke to the <em>Globe</em>, late last year. “Having [agents] policing [agents] has shown to not be the best model.”</p>\n<p>Mackenzie actually found herself in the middle of the problem when her own real estate agent forged her signature during a condo deal a few years ago. Mackenzie lodged a complaint with the Real Estate Council of B.C. (RECBC), the self-regulating body for the province’s real estate industry. She had to wait two years before RECBC made a ruling—part of it was public and part was private. Publicly, Mackenzie was told her agent was fined $1,250 and given a four month suspension. Privately, RECBC also imposed a $10,000 fine and banned the agent from using the Multiple Listings Service for a year. But it wasn&#8217;t until the <em>Globe</em>&#8216;s investigation that Mackenzie even learned of this subsequent penalty.</p>\n<p>Then there was the recent case that involved New Coast Realty. The brokerage was home to 445 real estate agents and was run by 42-year-old Ze Yu Wu, a permanent resident who moved to Canada from China a year ago, and an unlicensed trainer who taught and encouraged his agents to low-ball and lie to potential sellers in order to earn bigger commissions re-selling the listed homes.</p>\n<blockquote><p><i><span style=\"font-weight: 400;\">In a transcript from the <a href=\"http://www.theglobeandmail.com/real-estate/vancouver/vancouver-real-estate-agents-face-weak-penalties-for-misconduct/article29549072/\" >Globe’s investigation</a>, Wu is heard saying:<br />\n</span></i><span style=\"font-weight: 400;\">“You must print out the lowest prices in the neighbourhood to show to the homeowner. It is very critical to print out low sale prices in the neighbourhood.”</span></p></blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the release of the Globe&#8217;s investigative report, RECBC swooped in to issue licence conditions on New Coast Realty that included the appointment of a new RECBC-approved broker manager, hiring a trainer that was a licensed realtor and complying with conditions imposed on the firm. Thing is, Wu got off relatively scot-free. As an unlicensed trainer (who doesn&#8217;t actually practice real estate sales) he is not bound to the regulations that are imposed on licensed real estate agents. At the heart of these regulations is the notion that a real estate agent must act in their clients’ interests or risk disciplinary action. </span></p>\n<p>Despite the transgressions, New Coast Realty is still operating. And Wu is still making money—and will, as long as realtors pay their office fees and earn a commission.</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-vancouver-top-neighbourhoods/\">Vancouver’s top neighbourhoods » </a></p>\n<h3><b>No. 3: Re-emergence of shadow flipping</b></h3>\n<p><span style=\"font-weight: 400;\">The big reason why Wu and others push for quick home sales is because they can then turn around and resell that property to another buyer—usually at a much higher price. The agent has now earned two commissions on one property, usually within weeks of the initial sale of the home. It’s a process known as <a href=\"http://www.moneysense.ca/spend/real-estate/recent-real-estate-fraud-sparks-calls-for-change/\" >shadow flipping</a>, although it’s legally known as an assignment sale. </span></p>\n<p>An assignment sale allows the current registered buyer of a property to sell their ownership in the property to another interested buyer, even before the first sale is finalized. The use of assignment sales is most common in the arena of new build condos. It’s not uncommon for Canadian new build condo units to change ownership two, three, even four times before the condo building and its units are actually ready for occupation.</p>\n<p><span style=\"font-weight: 400;\">Here’s the rub: In most provinces in Canada, the sales document does</span><span style=\"font-weight: 400;\"> not automatically give a buyer the option to resell their rights to the property. In most provinces, an extra clause or an entirely separate contract must be completed by both the buyer and the initial seller. This helps keep all transactions and intentions totally transparent.</span></p>\n<p><span style=\"font-weight: 400;\">But this isn’t the case if you&#8217;re doing a real estate deal in B.C.’s lower mainland. In Vancouver, an assignment is part of the assumed package of rights that any seller passes onto the buyer. No other notification is needed, or given, as one </span><a href=\"http://www.theglobeandmail.com/news/national/assignment-flipping-feeding-into-speculative-real-estate-market-in-bc/article28634868/\"><span style=\"font-weight: 400;\">West Vancouver couple</span></a><span style=\"font-weight: 400;\"> learned when their recently sold home was re-listed and resold for more than $1 million more than their final sale price. </span></p>\n<p>So much for transparency.</p>\n<p>In the wake of the negative media headlines, RECBC opted to assign an advisory group to come up with deterrents for a list of questionable practices. Under current B.C. law, RECBC or other real estate boards, can fine a real estate agent a maximum of $10,000. To put this in perspective, in Alberta and Ontario the maximum fine is $25,000 for similar misconduct.</p>\n<p><span style=\"font-weight: 400;\">Still, the council’s actions might be a little too late. B.C. Premier, Christy Clark, recently promised the potential of provincial regulations that would impose tougher penalties for those that try to skirt around current and future regulations. One reason why the province may have decided to act independently of the council is that this isn’t the first time B.C.’s lower mainland has faced shadow flipping problems. In the mid-2000s, during a condo boom, assignment sales were so common that some developers put in clauses to forbid them. The rationale was that hot, frothy markets fuelled by money and speculation would drive up the price and could, potentially, create an unsustainable bubble. Not only that, but as early as </span><span style=\"font-weight: 400;\"> <a href=\"http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/\" >May 2008</a>, the provincial office of the superintendent of real estate released a consumer alert that warned of the risks associated with the assignment of contracts.</span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<h3><b>No. 4: Everything is easier with technology</b></h3>\n<p><span style=\"font-weight: 400;\">Another contributing factor is the ease with which technology has shortened the distance on what used to be a localized economic decision. These days, foreign investors don&#8217;t even need to step foot into Canada to snap up some of the most exclusive real estate in B.C.’s lower mainland. Take, for example, the December 2015 sale of the </span><a href=\"http://www.vancouversun.com/business/Priciest+Metro+Vancouver+homes+draw+buyers+from+China/10875651/story.html\" ><span style=\"font-weight: 400;\">$51.8-million Point Grey mansion</span></a><span style=\"font-weight: 400;\"> (that takes up three building lots and overlooks the ocean). The buyer was Mailin Chen, a businessman from mainland China, and it’s reported that he never even left his home in China to purchase his new Vancouver mansion. (Nor did he buy the home himself. His Vancouver-based company, Chunghwa Investment (Canada) Co. Ltd, did—a company that was incorporated in March 2010 and has an office on Howe Street in downtown Vancouver.)</span></p>\n<p><span style=\"font-weight: 400;\">While Chen’s transaction was legal and transparent, there have been reports that some brokerages and websites aren&#8217;t following the same narrow guidelines when it comes to access to listings. In mid-April of this year, </span><em><a href=\"http://globalnews.ca/news/2637687/critics-say-new-shanghai-based-website-gives-foreign-buyers-first-dibs-on-vancouver-homes/\" ><span style=\"font-weight: 400;\">Global News</span></a></em><span style=\"font-weight: 400;\"> reported that a </span><a href=\"http://www.vanfun.com/\" ><span style=\"font-weight: 400;\">Chinese-language website</span></a><span style=\"font-weight: 400;\">, owned by a company in Shanghai, allegedly pulled information from the Canadian MLS system before the information was made public. As is standard practice throughout most provinces in Canada, all new sales listings are entered into MLS, but aren’t made available to the public for 24 to 72 hours (depending on where you are in Canada). But making this information available to only a segment of the open market has raised </span><span style=\"font-weight: 400;\">concerns that</span><span style=\"font-weight: 400;\"> foreign buyers, investing in Metro Vancouver’s hot real estate market, are getting an unfair jump on new listings. Five days later, RECBC issues a notice stating that they’re looking into the transgression not just on the Vanfun.com site, but also on other similar sites. </span></p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-top-25-vancouver-neighbourhoods-to-buy-in/\">Top 25 Vancouver neighbourhoods to buy in » </a></p>\n<h3><b>No. 5: Money laundering</b></h3>\n<p><span style=\"font-weight: 400;\">Then there are the growing problems of money laundering, </span><a href=\"http://www.theprovince.com/video+tackling+money+laundering+fraud+evasion+vancouver+real+estate/11821480/story.html\" ><span style=\"font-weight: 400;\">fraud and tax evasion</span></a><span style=\"font-weight: 400;\">. </span><span style=\"font-weight: 400;\">The </span><a href=\"https://www.facebook.com/MetroVancouverResidents2016/\" ><span style=\"font-weight: 400;\">Housing Action for Local Taxpayers</span></a><span style=\"font-weight: 400;\">, an advocacy group with an aim to hold politicians accountable for housing affordability, </span><a href=\"http://www.theglobeandmail.com/news/national/vancouver-housing-market-vulnerable-to-money-laundering/article29285770/\" ><span style=\"font-weight: 400;\">says that</span></a><span style=\"font-weight: 400;\"> “houses have become opaque cash banks where funds from offshore can find nice safe places to hide—and there’s no need to show a return on the investment as the primary objective is to hide the funds from overseas tax authorities.”</span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that over the past 12 months, dozens of B.C. real estate brokerages have been caught with “significant” or “very significant” deficiencies, explains </span><em><a href=\"http://www.theglobeandmail.com/try-it-now/?articleId=27640202\"><span style=\"font-weight: 400;\">The Globe and Mail</span></a></em><span style=\"font-weight: 400;\">. The discovery was made when the Financial Transactions and Reports Analysis Centre (FINTRAC), which enforces the federal anti-money-laundering laws, decided to step up scrutiny over worries that money, primarily from China, was being laundered through Vancouver real estate. “There were concerns being raised that those in the real estate sector were not fulfilling the obligations under the act,” said FinTRAC spokesperson Darren Gibb. He added that: “The real estate sector is highly vulnerable to money laundering.” As a result of their investigation, FinTRAC found that some real estate agents were neglecting to get proper ID from clients, such as drivers’ licences or passports; failed to verify sources of money; and some brokerage firms simply didn&#8217;t report suspicious or large cash transactions, an obligation under anti-money-laundering laws.</span></p>\n<p><span style=\"font-weight: 400;\">Dan Zitting, chief product officer for Vancouver “big data” analytics firm </span><a href=\"http://www.acl.com/\"><span style=\"font-weight: 400;\">ACL</span></a><span style=\"font-weight: 400;\">, is an expert on detecting patterns of crime in vast pools of data. In recent <em>Globe and Mail</em> and <em>Vancouver Sun</em> interviews, he explained his fears of widespread fraud in B.C.’s property market. “Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of FINTRAC’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”</span></p>\n<p>The Canadian Real Estate Association (CREA), which leads industry training on anti-money-laundering compliance, retorted recently stating that though there were issues, the real problem lay with FINTRAC. CREA called the federal agency’s training webinar “clearly insufficient.” CREA also points out that to help realtors and brokerages, they invested “heavily” in hiring two staff and commissioning outside firms to help bring real estate agents up to speed. “It would be nice if FINTRAC would invest similar time and effort,” said Randall McCauley, CREA’s vice-president of government and public relations. Mr. McCauley calls it “ridiculous” to expect individual real estate agents to have the same infrastructure as banks or casinos to track clients.</p>\n<p>McCauley also points out that the basic infrastructure of the regulations shows a complete “lack of understanding” of the industry. “A huge percentage of our members help individuals sell, then buy a home within days or weeks,” McCauley said. He wonders: Why the increased scrutiny of any buyer who completes two transactions within five years?</p>\n<h3><b>No. 6: The bar is too low</b></h3>\n<p><span style=\"font-weight: 400;\">Despite the problems, people keep pouring into the city and into the Vancouver real estate industry. There are now more than 12,400 agents in the Vancouver area—up 24% from five years ago. Some say that the growth in this profession, along with the increased errors and broken regulations, are due, in part, to the low bar of entry into the field of real estate. One Re/Max realtor stated, in a recent <em>Globe and Mail</em> article, that he wasn’t surprised by all the errors and omissions (and commissions). “It’s too easy to become a realtor in British Columbia, so the level of compliance is going to be a problem,” says Keith Roy, a real estate agent who also sits on the professional-conduct committee of the Real Estate Board of Greater Vancouver (REBGV), the member-based association that represents licensed real estate agents in the area. “The No. 1 way to increase public protection is to have more than a 10-week online course to get your licence.”</span></p>\n<h3><b>No. 7: Lack of unbiased info</b></h3>\n<p><span style=\"font-weight: 400;\">Vancouver&#8217;s growing housing dilemma has put the city on the top of unaffordable lists everywhere. Recently, Demographia ranked the West-coast city as the second most unaffordable city out of 325 around the world. The only city to beat Vancouver from claiming the top spot: Hong Kong. </span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that no one wants to <em>appear</em> to be killing the cash cow. Worse, is that reliable, unbiased information is hard to come by. In the last year, Ian Young, a reporter at the <em>South China Morning Post</em> <a href=\"http://www.theglobeandmail.com/real-estate/in-vancouver-race-undercuts-the-discussion-on-affordability/article19873510/\" >highlighted how</a> the Centre for Urban Economics and Real Estate, run by UBC business professor Tsur Somerville—the academic most often quoted in the media regarding Vancouver&#8217;s housing issues—</span><span style=\"font-weight: 400;\">receives part of its funding from developers. Turns out so do some of the city&#8217;s so-called urban think-tanks—the supposed thought-leaders on urban development. </span></p>\n<p><span style=\"font-weight: 400;\">Yet, those with no personal or professional stake in the discussion—such as <span style=\"font-weight: 400;\">Yan, <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >Elizabeth Murphy</a>, a private-sector project manager, David Wachsmuth, a former UBC urban geographer, now an urban planning assistant professor at McGill, SFU&#8217;s Andrey Pavlov and B.C’s meticulous urban geographer, </span><span style=\"font-weight: 400;\"><a href=\"http://blogs.vancouversun.com/2014/06/27/why-vancouver-housing-is-unaffordable-and-what-to-do-about-it/\" >David Ley (author of Millionaire Migrants)</a>—end up dominating headlines for the wrong reasons. When Ley released his findings last year on the impact of high immigration rates and foreign ownership have on real estate prices, </span></span>Somerville and others tossed out labels of &#8220;racist&#8221; and &#8220;xenophobic.&#8221;</p>\n<h3><b>No. 8: Vancouver wants to grow</b></h3>\n<p><span style=\"font-weight: 400;\">So, why this push for more homeowners and a greater proportion of international investment money? Because the City of Vancouver wants to grow. City personnel suggest that an increase to market residential zoning needs to expand in order to accommodate the million or more people that will settle in the city by 2041. Problem is, this estimated growth is for the entire lower mainland, with only a small fraction establishing a home in the City of Vancouver.</span></p>\n<p><a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" ><span style=\"font-weight: 400;\">Elizabeth Murphy</span></a><span style=\"font-weight: 400;\">, a private-sector project manager and former property development officer with the City of Vancouver’s Housing and Properties Department and for BC Housing, believes that the city’s rezoning and building plans are anything but transparent. She is convinced that the push for major builds, such as large condo towers, is motivated by those who will benefit financially. She sees the arguments that there is a lack of supply to be misleading and believes that the city is actually overbuilding by approximately 2,000 units every five years. The key, according to Murphy, is not more housing units, but better-suited housing units. She believes metro Vancouverites end up in a position of having to rent out units because the units built are expensive and only “serve to promote Vancouver as an investment commodity rather than a planned community.”</span></p>\n<p>Murphy is also concerned that this will have a long-lasting impact on current residents. “What <span style=\"font-weight: 400;\">most people don’t understand is that all this growth doesn’t make the city any money. On the contrary, the city has to subsidize all this growth. The development fees collected by the city only cover a small fraction, about 10%, of the actual costs of servicing the infrastructure for development and the population growth it brings. The massive development that has been completed over that last few decades has served to increase property taxes and the city’s debt,” <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >she writes</a>.</span></p>\n<p>While some growth in any city is inevitable, Murphy and other critics are trying to open up the discussion about how and what to build. “There are many options as to how growth is implemented. There are choices to be made. A concrete jungle of energy-hog glass towers with ugly and expensive monster houses is not inevitable. We can do better.”</p>\n<p><span style=\"font-weight: 400;\">Up next: How Vancouver&#8217;s unaffordable real estate market could seriously impact the future of this city. </span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">8 reasons why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','8 reasons why Vancouver real estate prices are so crazy','<p>From foreign buyers, to unscrupulous agents, here are the mitigating factors that help to push prices up </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">8 reasons why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10191-revision-v1','','','2016-04-22 08:04:09','2016-04-22 12:04:09','',10191,'http://feedwordpress.radgeek.com/?rev=bf2dd7a439b7d678801f0a51b333260f',0,'revision','',0),(10226,1,'2016-04-22 08:04:09','2016-04-22 12:04:09','<div id=\"attachment_120794\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img class=\"size-large wp-image-120794\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg\" alt=\"(Barrett &amp; MacKay/Getty Images)\" width=\"1024\" height=\"690\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-300x202.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg 1024w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-660x444.jpg 660w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" /><p class=\"wp-caption-text\">(Barrett &amp; MacKay/Getty Images)</p></div>\n<p><b></b><span style=\"font-weight: 400;\">Vancouver&#8217;s real estate market is messed up. It&#8217;s really messed up. As a result it&#8217;s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada&#8217;s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland. </span></p>\n<h3><b>No. 1: Foreign buyers</b></h3>\n<p><span style=\"font-weight: 400;\">It’s not very Canadian to discuss the impact of immigration, particularly if it’s negative. But the truth is the Vancouver real estate market <em>has</em> felt the impact of foreign money—in particular, money from rich foreigners. Much of this money comes from mainland China. Also not a very Canadian thing to say. But it’s true. How do we know? Because the phenomenon has been tracked, studied and recorded—and not just in Vancouver. </span></p>\n<p>Data collected by David Ley shows how, over the last few decades, metro Vancouver has become similar to other Pacific Rim “gateway” cities, such as Hong Kong, Singapore, London and Sydney. Each of these gateway cities have rising housing costs that are fuelled by high immigration-driven population growth and foreign investors.</p>\n<p>“In every one of these cities the market is being driven by something other than owner-occupiers. Not just new immigrants, but investors, including offshore investment,” explains Ley. Through his analysis, Ley discovered that in the last 25 years, there’s been an almost 1-to-1 correlation between Vancouver’s rising real estate prices and the surge in international immigration and offshore investors to this West-coast city.</p>\n<p>Ley isn&#8217;t the only one tracking this trend. University of Waterloo geographer Markus Moos and Queen’s University planner Andrejs Skaburskis back up Ley’s findings. Both Moos and Skaburskis concede that Vancouver is an “exceptional” example of how “globalization” can affect a local housing market.</p>\n<p>The biggest contributor to these rising housing prices is that these immigrants not only arrive with great wealth, but continue to earn high incomes outside of Canada. This accumulation and access to money and its investment in Vancouver property led to a “decoupling of housing from local labour market participation,” wrote Moos and Skaburskis.</p>\n<p>Even data released by the city of Vancouver backs up the assertions by these scholars. According to district data virtually nine out of 10 newcomers in the past 20 years were born outside the country—mostly in Asia. City data also shows that many of these new property owners are “circulatory migrants”—foreigners who invest in property in Canada while working offshore.</p>\n<p>Some detractors of this data argue that rich foreigners only invest in luxury properties—purchases that don&#8217;t impact neighbourhoods (and prices) where regular, middle-class Vancouverites choose to buy homes. But that’s just not true.</p>\n<p>Ley describes the impact as a “trickle-down effect,” which occurs when rich immigrants and investors push up housing prices across the entire lower mainland real estate market. It’s a phenomenon that Andy Yan, an urban planning researcher and adjunct professor at University of British Columbia (UBC), has been documenting for years. He turned his <a href=\"http://www.slideshare.net/ayan604/ownership-patterns-of-single-family-homes-sales-on-the-west-side-neighborhoods-of-the-city-of-vancouver-a-case-study\" >data and research</a> into maps that document the growth of home prices in metro Vancouver. In the first map (below) there are virtually no properties east of Main Street listed for over $1 million.</p>\n<div id=\"attachment_153022\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153022\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png\" alt=\"(Andy Yan, 2014 / BTA Works)\" width=\"498\" height=\"421\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014-300x254.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png 498w\" sizes=\"(max-width: 498px) 100vw, 498px\" /><p class=\"wp-caption-text\">(Andy Yan, 2014 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The second map (below) shows 2015 home prices in metro Vancouver. Notice how many of the homes east of Main Street are now priced at $1 million or more. </span></p>\n<div id=\"attachment_153024\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153024\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png\" alt=\"(Andy Yan, 2015 / BTA Works)\" width=\"529\" height=\"408\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015-300x231.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png 529w\" sizes=\"(max-width: 529px) 100vw, 529px\" /><p class=\"wp-caption-text\">(Andy Yan, 2015 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The final map (below) shows 2016 housing prices. Notice how the number of houses selling for over $1 million has increased dramatically. Now, the sea of red spreads past metro Vancouver and into the inner suburbs. </span></p>\n<div id=\"attachment_153026\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153026\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png\" alt=\"(Andy Yan, 2016 / BTA Works) \" width=\"524\" height=\"407\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016-300x233.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png 524w\" sizes=\"(max-width: 524px) 100vw, 524px\" /><p class=\"wp-caption-text\">(Andy Yan, 2016 / BTA Works)</p></div>\n<p>“It’s not as if you can draw a clear partition. The property values in the west side influence the prices in the east side. Demand is just deflected, for example, from Kitsilano to Main Street and Commercial Drive,” says Ley. Now, the problem extends well beyond the city limits and into the suburbs.</p>\n<p>“Some investors are buying a few houses at the same time,” states one exasperated reader. “Some of the deals are even arranged remotely from overseas. This will eventually mean that more and more people will have no choice but to look for jobs in other provinces.”</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\">Canada&#8217;s best deals in real estate 2016 » </a></p>\n<h3><b>No. </b><b>2: Ineffective regulation</b></h3>\n<p><span style=\"font-weight: 400;\">But foreign buyers aren’t the only culprits in Vancouver’s messy real estate market. Fast money, unscrupulous people, and a general malaise when it comes to defining and enforcing bad conduct has taken its toll on the city. </span></p>\n<p><span style=\"font-weight: 400;\">A recent </span><a href=\"http://www.theglobeandmail.com/news/investigations/inside-a-fast-growing-bc-firm-that-has-home-sellers-crying-foul/article29578417/\" ><span style=\"font-weight: 400;\"><em>Globe and Mail</em> investigation</span></a><span style=\"font-weight: 400;\"> found that Vancouver real estate agents who were disciplined for wrongdoing faced fines and suspensions that were nothing short of a joke when compared to the hefty commissions earned on real estate transactions. The <em>Globe</em>’s report showed that of the more than 100 recent disciplinary proceedings, some confidential, the fines averaged out at $4,850. Compare this to the potential commission on a $1.78-million home—the average price paid in metro Vancouver in the first quarter of 2016—which works out to $22,500, and you can see why some agents simply consider these fines as the cost of doing business.</span></p>\n<p>What’s worse is the <em>Globe and Mail</em> investigation found that only a fraction of agents lost their licences over misconduct. Those who did receive a suspension were barred, on average, from practising for six weeks. In comparison, the Fraser Valley Real Estate Board—the private board in charge of lower mainland real estate, such as Langley and Abbotsford—is known for much stiffer penalties for realtors that breach ethics or regulations.</p>\n<p>“Some people have done some really bad things and they just get a slap on the wrist,” says Janet Mackenzie, a Vancouver regulatory affairs executive, who spoke to the <em>Globe</em>, late last year. “Having [agents] policing [agents] has shown to not be the best model.”</p>\n<p>Mackenzie actually found herself in the middle of the problem when her own real estate agent forged her signature during a condo deal a few years ago. Mackenzie lodged a complaint with the Real Estate Council of B.C. (RECBC), the self-regulating body for the province’s real estate industry. She had to wait two years before RECBC made a ruling—part of it was public and part was private. Publicly, Mackenzie was told her agent was fined $1,250 and given a four month suspension. Privately, RECBC also imposed a $10,000 fine and banned the agent from using the Multiple Listings Service for a year. But it wasn&#8217;t until the <em>Globe</em>&#8216;s investigation that Mackenzie even learned of this subsequent penalty.</p>\n<p>Then there was the recent case that involved New Coast Realty. The brokerage was home to 445 real estate agents and was run by 42-year-old Ze Yu Wu, a permanent resident who moved to Canada from China a year ago, and an unlicensed trainer who taught and encouraged his agents to low-ball and lie to potential sellers in order to earn bigger commissions re-selling the listed homes.</p>\n<blockquote><p><i><span style=\"font-weight: 400;\">In a transcript from the <a href=\"http://www.theglobeandmail.com/real-estate/vancouver/vancouver-real-estate-agents-face-weak-penalties-for-misconduct/article29549072/\" >Globe’s investigation</a>, Wu is heard saying:<br />\n</span></i><span style=\"font-weight: 400;\">“You must print out the lowest prices in the neighbourhood to show to the homeowner. It is very critical to print out low sale prices in the neighbourhood.”</span></p></blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the release of the Globe&#8217;s investigative report, RECBC swooped in to issue licence conditions on New Coast Realty that included the appointment of a new RECBC-approved broker manager, hiring a trainer that was a licensed realtor and complying with conditions imposed on the firm. Thing is, Wu got off relatively scot-free. As an unlicensed trainer (who doesn&#8217;t actually practice real estate sales) he is not bound to the regulations that are imposed on licensed real estate agents. At the heart of these regulations is the notion that a real estate agent must act in their clients’ interests or risk disciplinary action. </span></p>\n<p>Despite the transgressions, New Coast Realty is still operating. And Wu is still making money—and will, as long as realtors pay their office fees and earn a commission.</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-vancouver-top-neighbourhoods/\">Vancouver’s top neighbourhoods » </a></p>\n<h3><b>No. 3: Re-emergence of shadow flipping</b></h3>\n<p><span style=\"font-weight: 400;\">The big reason why Wu and others push for quick home sales is because they can then turn around and resell that property to another buyer—usually at a much higher price. The agent has now earned two commissions on one property, usually within weeks of the initial sale of the home. It’s a process known as <a href=\"http://www.moneysense.ca/spend/real-estate/recent-real-estate-fraud-sparks-calls-for-change/\" >shadow flipping</a>, although it’s legally known as an assignment sale. </span></p>\n<p>An assignment sale allows the current registered buyer of a property to sell their ownership in the property to another interested buyer, even before the first sale is finalized. The use of assignment sales is most common in the arena of new build condos. It’s not uncommon for Canadian new build condo units to change ownership two, three, even four times before the condo building and its units are actually ready for occupation.</p>\n<p><span style=\"font-weight: 400;\">Here’s the rub: In most provinces in Canada, the sales document does</span><span style=\"font-weight: 400;\"> not automatically give a buyer the option to resell their rights to the property. In most provinces, an extra clause or an entirely separate contract must be completed by both the buyer and the initial seller. This helps keep all transactions and intentions totally transparent.</span></p>\n<p><span style=\"font-weight: 400;\">But this isn’t the case if you&#8217;re doing a real estate deal in B.C.’s lower mainland. In Vancouver, an assignment is part of the assumed package of rights that any seller passes onto the buyer. No other notification is needed, or given, as one </span><a href=\"http://www.theglobeandmail.com/news/national/assignment-flipping-feeding-into-speculative-real-estate-market-in-bc/article28634868/\"><span style=\"font-weight: 400;\">West Vancouver couple</span></a><span style=\"font-weight: 400;\"> learned when their recently sold home was re-listed and resold for more than $1 million more than their final sale price. </span></p>\n<p>So much for transparency.</p>\n<p>In the wake of the negative media headlines, RECBC opted to assign an advisory group to come up with deterrents for a list of questionable practices. Under current B.C. law, RECBC or other real estate boards, can fine a real estate agent a maximum of $10,000. To put this in perspective, in Alberta and Ontario the maximum fine is $25,000 for similar misconduct.</p>\n<p><span style=\"font-weight: 400;\">Still, the council’s actions might be a little too late. B.C. Premier, Christy Clark, recently promised the potential of provincial regulations that would impose tougher penalties for those that try to skirt around current and future regulations. One reason why the province may have decided to act independently of the council is that this isn’t the first time B.C.’s lower mainland has faced shadow flipping problems. In the mid-2000s, during a condo boom, assignment sales were so common that some developers put in clauses to forbid them. The rationale was that hot, frothy markets fuelled by money and speculation would drive up the price and could, potentially, create an unsustainable bubble. Not only that, but as early as </span><span style=\"font-weight: 400;\"> <a href=\"http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/\" >May 2008</a>, the provincial office of the superintendent of real estate released a consumer alert that warned of the risks associated with the assignment of contracts.</span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<h3><b>No. 4: Everything is easier with technology</b></h3>\n<p><span style=\"font-weight: 400;\">Another contributing factor is the ease with which technology has shortened the distance on what used to be a localized economic decision. These days, foreign investors don&#8217;t even need to step foot into Canada to snap up some of the most exclusive real estate in B.C.’s lower mainland. Take, for example, the December 2015 sale of the </span><a href=\"http://www.vancouversun.com/business/Priciest+Metro+Vancouver+homes+draw+buyers+from+China/10875651/story.html\" ><span style=\"font-weight: 400;\">$51.8-million Point Grey mansion</span></a><span style=\"font-weight: 400;\"> (that takes up three building lots and overlooks the ocean). The buyer was Mailin Chen, a businessman from mainland China, and it’s reported that he never even left his home in China to purchase his new Vancouver mansion. (Nor did he buy the home himself. His Vancouver-based company, Chunghwa Investment (Canada) Co. Ltd, did—a company that was incorporated in March 2010 and has an office on Howe Street in downtown Vancouver.)</span></p>\n<p><span style=\"font-weight: 400;\">While Chen’s transaction was legal and transparent, there have been reports that some brokerages and websites aren&#8217;t following the same narrow guidelines when it comes to access to listings. In mid-April of this year, </span><em><a href=\"http://globalnews.ca/news/2637687/critics-say-new-shanghai-based-website-gives-foreign-buyers-first-dibs-on-vancouver-homes/\" ><span style=\"font-weight: 400;\">Global News</span></a></em><span style=\"font-weight: 400;\"> reported that a </span><a href=\"http://www.vanfun.com/\" ><span style=\"font-weight: 400;\">Chinese-language website</span></a><span style=\"font-weight: 400;\">, owned by a company in Shanghai, allegedly pulled information from the Canadian MLS system before the information was made public. As is standard practice throughout most provinces in Canada, all new sales listings are entered into MLS, but aren’t made available to the public for 24 to 72 hours (depending on where you are in Canada). But making this information available to only a segment of the open market has raised </span><span style=\"font-weight: 400;\">concerns that</span><span style=\"font-weight: 400;\"> foreign buyers, investing in Metro Vancouver’s hot real estate market, are getting an unfair jump on new listings. Five days later, RECBC issues a notice stating that they’re looking into the transgression not just on the Vanfun.com site, but also on other similar sites. </span></p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-top-25-vancouver-neighbourhoods-to-buy-in/\">Top 25 Vancouver neighbourhoods to buy in » </a></p>\n<h3><b>No. 5: Money laundering</b></h3>\n<p><span style=\"font-weight: 400;\">Then there are the growing problems of money laundering, </span><a href=\"http://www.theprovince.com/video+tackling+money+laundering+fraud+evasion+vancouver+real+estate/11821480/story.html\" ><span style=\"font-weight: 400;\">fraud and tax evasion</span></a><span style=\"font-weight: 400;\">. </span><span style=\"font-weight: 400;\">The </span><a href=\"https://www.facebook.com/MetroVancouverResidents2016/\" ><span style=\"font-weight: 400;\">Housing Action for Local Taxpayers</span></a><span style=\"font-weight: 400;\">, an advocacy group with an aim to hold politicians accountable for housing affordability, </span><a href=\"http://www.theglobeandmail.com/news/national/vancouver-housing-market-vulnerable-to-money-laundering/article29285770/\" ><span style=\"font-weight: 400;\">says that</span></a><span style=\"font-weight: 400;\"> “houses have become opaque cash banks where funds from offshore can find nice safe places to hide—and there’s no need to show a return on the investment as the primary objective is to hide the funds from overseas tax authorities.”</span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that over the past 12 months, dozens of B.C. real estate brokerages have been caught with “significant” or “very significant” deficiencies, explains </span><em><a href=\"http://www.theglobeandmail.com/try-it-now/?articleId=27640202\"><span style=\"font-weight: 400;\">The Globe and Mail</span></a></em><span style=\"font-weight: 400;\">. The discovery was made when the Financial Transactions and Reports Analysis Centre (FINTRAC), which enforces the federal anti-money-laundering laws, decided to step up scrutiny over worries that money, primarily from China, was being laundered through Vancouver real estate. “There were concerns being raised that those in the real estate sector were not fulfilling the obligations under the act,” said FinTRAC spokesperson Darren Gibb. He added that: “The real estate sector is highly vulnerable to money laundering.” As a result of their investigation, FinTRAC found that some real estate agents were neglecting to get proper ID from clients, such as drivers’ licences or passports; failed to verify sources of money; and some brokerage firms simply didn&#8217;t report suspicious or large cash transactions, an obligation under anti-money-laundering laws.</span></p>\n<p><span style=\"font-weight: 400;\">Dan Zitting, chief product officer for Vancouver “big data” analytics firm </span><a href=\"http://www.acl.com/\"><span style=\"font-weight: 400;\">ACL</span></a><span style=\"font-weight: 400;\">, is an expert on detecting patterns of crime in vast pools of data. In recent <em>Globe and Mail</em> and <em>Vancouver Sun</em> interviews, he explained his fears of widespread fraud in B.C.’s property market. “Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of FINTRAC’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”</span></p>\n<p>The Canadian Real Estate Association (CREA), which leads industry training on anti-money-laundering compliance, retorted recently stating that though there were issues, the real problem lay with FINTRAC. CREA called the federal agency’s training webinar “clearly insufficient.” CREA also points out that to help realtors and brokerages, they invested “heavily” in hiring two staff and commissioning outside firms to help bring real estate agents up to speed. “It would be nice if FINTRAC would invest similar time and effort,” said Randall McCauley, CREA’s vice-president of government and public relations. Mr. McCauley calls it “ridiculous” to expect individual real estate agents to have the same infrastructure as banks or casinos to track clients.</p>\n<p>McCauley also points out that the basic infrastructure of the regulations shows a complete “lack of understanding” of the industry. “A huge percentage of our members help individuals sell, then buy a home within days or weeks,” McCauley said. He wonders: Why the increased scrutiny of any buyer who completes two transactions within five years?</p>\n<h3><b>No. 6: The bar is too low</b></h3>\n<p><span style=\"font-weight: 400;\">Despite the problems, people keep pouring into the city and into the Vancouver real estate industry. There are now more than 12,400 agents in the Vancouver area—up 24% from five years ago. Some say that the growth in this profession, along with the increased errors and broken regulations, are due, in part, to the low bar of entry into the field of real estate. One Re/Max realtor stated, in a recent <em>Globe and Mail</em> article, that he wasn’t surprised by all the errors and omissions (and commissions). “It’s too easy to become a realtor in British Columbia, so the level of compliance is going to be a problem,” says Keith Roy, a real estate agent who also sits on the professional-conduct committee of the Real Estate Board of Greater Vancouver (REBGV), the member-based association that represents licensed real estate agents in the area. “The No. 1 way to increase public protection is to have more than a 10-week online course to get your licence.”</span></p>\n<h3><b>No. 7: Lack of unbiased info</b></h3>\n<p><span style=\"font-weight: 400;\">Vancouver&#8217;s growing housing dilemma has put the city on the top of unaffordable lists everywhere. Recently, Demographia ranked the West-coast city as the second most unaffordable city out of 325 around the world. The only city to beat Vancouver from claiming the top spot: Hong Kong. </span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that no one wants to <em>appear</em> to be killing the cash cow. Worse, is that reliable, unbiased information is hard to come by. In the last year, Ian Young, a reporter at the <em>South China Morning Post</em> <a href=\"http://www.theglobeandmail.com/real-estate/in-vancouver-race-undercuts-the-discussion-on-affordability/article19873510/\" >highlighted how</a> the Centre for Urban Economics and Real Estate, run by UBC business professor Tsur Somerville—the academic most often quoted in the media regarding Vancouver&#8217;s housing issues—</span><span style=\"font-weight: 400;\">receives part of its funding from developers. Turns out so do some of the city&#8217;s so-called urban think-tanks—the supposed thought-leaders on urban development. </span></p>\n<p><span style=\"font-weight: 400;\">Yet, those with no personal or professional stake in the discussion—such as <span style=\"font-weight: 400;\">Yan, <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >Elizabeth Murphy</a>, a private-sector project manager, David Wachsmuth, a former UBC urban geographer, now an urban planning assistant professor at McGill, SFU&#8217;s Andrey Pavlov and B.C’s meticulous urban geographer, </span><span style=\"font-weight: 400;\"><a href=\"http://blogs.vancouversun.com/2014/06/27/why-vancouver-housing-is-unaffordable-and-what-to-do-about-it/\" >David Ley (author of Millionaire Migrants)</a>—end up dominating headlines for the wrong reasons. When Ley released his findings last year on the impact of high immigration rates and foreign ownership have on real estate prices, </span></span>Somerville and others tossed out labels of &#8220;racist&#8221; and &#8220;xenophobic.&#8221;</p>\n<h3><b>No. 8: Vancouver wants to grow</b></h3>\n<p><span style=\"font-weight: 400;\">So, why this push for more homeowners and a greater proportion of international investment money? Because the City of Vancouver wants to grow. City personnel suggest that an increase to market residential zoning needs to expand in order to accommodate the million or more people that will settle in the city by 2041. Problem is, this estimated growth is for the entire lower mainland, with only a small fraction establishing a home in the City of Vancouver.</span></p>\n<p><a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" ><span style=\"font-weight: 400;\">Elizabeth Murphy</span></a><span style=\"font-weight: 400;\">, a private-sector project manager and former property development officer with the City of Vancouver’s Housing and Properties Department and for BC Housing, believes that the city’s rezoning and building plans are anything but transparent. She is convinced that the push for major builds, such as large condo towers, is motivated by those who will benefit financially. She sees the arguments that there is a lack of supply to be misleading and believes that the city is actually overbuilding by approximately 2,000 units every five years. The key, according to Murphy, is not more housing units, but better-suited housing units. She believes metro Vancouverites end up in a position of having to rent out units because the units built are expensive and only “serve to promote Vancouver as an investment commodity rather than a planned community.”</span></p>\n<p>Murphy is also concerned that this will have a long-lasting impact on current residents. “What <span style=\"font-weight: 400;\">most people don’t understand is that all this growth doesn’t make the city any money. On the contrary, the city has to subsidize all this growth. The development fees collected by the city only cover a small fraction, about 10%, of the actual costs of servicing the infrastructure for development and the population growth it brings. The massive development that has been completed over that last few decades has served to increase property taxes and the city’s debt,” <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >she writes</a>.</span></p>\n<p>While some growth in any city is inevitable, Murphy and other critics are trying to open up the discussion about how and what to build. “There are many options as to how growth is implemented. There are choices to be made. A concrete jungle of energy-hog glass towers with ugly and expensive monster houses is not inevitable. We can do better.”</p>\n<p><span style=\"font-weight: 400;\">Up next: How Vancouver&#8217;s unaffordable real estate market could seriously impact the future of this city. </span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">8 reasons why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','8 reasons why Vancouver real estate prices are so crazy','<p>From foreign buyers, to unscrupulous agents, here are the mitigating factors that help to push prices up </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">8 reasons why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10191-revision-v1','','','2016-04-22 08:04:09','2016-04-22 12:04:09','',10191,'http://feedwordpress.radgeek.com/?rev=bf2dd7a439b7d678801f0a51b333260f',0,'revision','',0),(10227,1,'2016-04-22 08:04:09','2016-04-22 12:04:09','<div id=\"attachment_120794\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img class=\"size-large wp-image-120794\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg\" alt=\"(Barrett &amp; MacKay/Getty Images)\" width=\"1024\" height=\"690\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-300x202.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg 1024w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-660x444.jpg 660w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" /><p class=\"wp-caption-text\">(Barrett &amp; MacKay/Getty Images)</p></div>\n<p><b></b><span style=\"font-weight: 400;\">Vancouver&#8217;s real estate market is messed up. It&#8217;s really messed up. As a result it&#8217;s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada&#8217;s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland. </span></p>\n<h3><b>No. 1: Foreign buyers</b></h3>\n<p><span style=\"font-weight: 400;\">It’s not very Canadian to discuss the impact of immigration, particularly if it’s negative. But the truth is the Vancouver real estate market <em>has</em> felt the impact of foreign money—in particular, money from rich foreigners. Much of this money comes from mainland China. Also not a very Canadian thing to say. But it’s true. How do we know? Because the phenomenon has been tracked, studied and recorded—and not just in Vancouver. </span></p>\n<p>Data collected by David Ley shows how, over the last few decades, metro Vancouver has become similar to other Pacific Rim “gateway” cities, such as Hong Kong, Singapore, London and Sydney. Each of these gateway cities have rising housing costs that are fuelled by high immigration-driven population growth and foreign investors.</p>\n<p>“In every one of these cities the market is being driven by something other than owner-occupiers. Not just new immigrants, but investors, including offshore investment,” explains Ley. Through his analysis, Ley discovered that in the last 25 years, there’s been an almost 1-to-1 correlation between Vancouver’s rising real estate prices and the surge in international immigration and offshore investors to this West-coast city.</p>\n<p>Ley isn&#8217;t the only one tracking this trend. University of Waterloo geographer Markus Moos and Queen’s University planner Andrejs Skaburskis back up Ley’s findings. Both Moos and Skaburskis concede that Vancouver is an “exceptional” example of how “globalization” can affect a local housing market.</p>\n<p>The biggest contributor to these rising housing prices is that these immigrants not only arrive with great wealth, but continue to earn high incomes outside of Canada. This accumulation and access to money and its investment in Vancouver property led to a “decoupling of housing from local labour market participation,” wrote Moos and Skaburskis.</p>\n<p>Even data released by the city of Vancouver backs up the assertions by these scholars. According to district data virtually nine out of 10 newcomers in the past 20 years were born outside the country—mostly in Asia. City data also shows that many of these new property owners are “circulatory migrants”—foreigners who invest in property in Canada while working offshore.</p>\n<p>Some detractors of this data argue that rich foreigners only invest in luxury properties—purchases that don&#8217;t impact neighbourhoods (and prices) where regular, middle-class Vancouverites choose to buy homes. But that’s just not true.</p>\n<p>Ley describes the impact as a “trickle-down effect,” which occurs when rich immigrants and investors push up housing prices across the entire lower mainland real estate market. It’s a phenomenon that Andy Yan, an urban planning researcher and adjunct professor at University of British Columbia (UBC), has been documenting for years. He turned his <a href=\"http://www.slideshare.net/ayan604/ownership-patterns-of-single-family-homes-sales-on-the-west-side-neighborhoods-of-the-city-of-vancouver-a-case-study\" >data and research</a> into maps that document the growth of home prices in metro Vancouver. In the first map (below) there are virtually no properties east of Main Street listed for over $1 million.</p>\n<div id=\"attachment_153022\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153022\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png\" alt=\"(Andy Yan, 2014 / BTA Works)\" width=\"498\" height=\"421\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014-300x254.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png 498w\" sizes=\"(max-width: 498px) 100vw, 498px\" /><p class=\"wp-caption-text\">(Andy Yan, 2014 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The second map (below) shows 2015 home prices in metro Vancouver. Notice how many of the homes east of Main Street are now priced at $1 million or more. </span></p>\n<div id=\"attachment_153024\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153024\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png\" alt=\"(Andy Yan, 2015 / BTA Works)\" width=\"529\" height=\"408\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015-300x231.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png 529w\" sizes=\"(max-width: 529px) 100vw, 529px\" /><p class=\"wp-caption-text\">(Andy Yan, 2015 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The final map (below) shows 2016 housing prices. Notice how the number of houses selling for over $1 million has increased dramatically. Now, the sea of red spreads past metro Vancouver and into the inner suburbs. </span></p>\n<div id=\"attachment_153026\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153026\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png\" alt=\"(Andy Yan, 2016 / BTA Works) \" width=\"524\" height=\"407\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016-300x233.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png 524w\" sizes=\"(max-width: 524px) 100vw, 524px\" /><p class=\"wp-caption-text\">(Andy Yan, 2016 / BTA Works)</p></div>\n<p>“It’s not as if you can draw a clear partition. The property values in the west side influence the prices in the east side. Demand is just deflected, for example, from Kitsilano to Main Street and Commercial Drive,” says Ley. Now, the problem extends well beyond the city limits and into the suburbs.</p>\n<p>“Some investors are buying a few houses at the same time,” states one exasperated reader. “Some of the deals are even arranged remotely from overseas. This will eventually mean that more and more people will have no choice but to look for jobs in other provinces.”</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\">Canada&#8217;s best deals in real estate 2016 » </a></p>\n<h3><b>No. </b><b>2: Ineffective regulation</b></h3>\n<p><span style=\"font-weight: 400;\">But foreign buyers aren’t the only culprits in Vancouver’s messy real estate market. Fast money, unscrupulous people, and a general malaise when it comes to defining and enforcing bad conduct has taken its toll on the city. </span></p>\n<p><span style=\"font-weight: 400;\">A recent </span><a href=\"http://www.theglobeandmail.com/news/investigations/inside-a-fast-growing-bc-firm-that-has-home-sellers-crying-foul/article29578417/\" ><span style=\"font-weight: 400;\"><em>Globe and Mail</em> investigation</span></a><span style=\"font-weight: 400;\"> found that Vancouver real estate agents who were disciplined for wrongdoing faced fines and suspensions that were nothing short of a joke when compared to the hefty commissions earned on real estate transactions. The <em>Globe</em>’s report showed that of the more than 100 recent disciplinary proceedings, some confidential, the fines averaged out at $4,850. Compare this to the potential commission on a $1.78-million home—the average price paid in metro Vancouver in the first quarter of 2016—which works out to $22,500, and you can see why some agents simply consider these fines as the cost of doing business.</span></p>\n<p>What’s worse is the <em>Globe and Mail</em> investigation found that only a fraction of agents lost their licences over misconduct. Those who did receive a suspension were barred, on average, from practising for six weeks. In comparison, the Fraser Valley Real Estate Board—the private board in charge of lower mainland real estate, such as Langley and Abbotsford—is known for much stiffer penalties for realtors that breach ethics or regulations.</p>\n<p>“Some people have done some really bad things and they just get a slap on the wrist,” says Janet Mackenzie, a Vancouver regulatory affairs executive, who spoke to the <em>Globe</em>, late last year. “Having [agents] policing [agents] has shown to not be the best model.”</p>\n<p>Mackenzie actually found herself in the middle of the problem when her own real estate agent forged her signature during a condo deal a few years ago. Mackenzie lodged a complaint with the Real Estate Council of B.C. (RECBC), the self-regulating body for the province’s real estate industry. She had to wait two years before RECBC made a ruling—part of it was public and part was private. Publicly, Mackenzie was told her agent was fined $1,250 and given a four month suspension. Privately, RECBC also imposed a $10,000 fine and banned the agent from using the Multiple Listings Service for a year. But it wasn&#8217;t until the <em>Globe</em>&#8216;s investigation that Mackenzie even learned of this subsequent penalty.</p>\n<p>Then there was the recent case that involved New Coast Realty. The brokerage was home to 445 real estate agents and was run by 42-year-old Ze Yu Wu, a permanent resident who moved to Canada from China a year ago, and an unlicensed trainer who taught and encouraged his agents to low-ball and lie to potential sellers in order to earn bigger commissions re-selling the listed homes.</p>\n<blockquote><p><i><span style=\"font-weight: 400;\">In a transcript from the <a href=\"http://www.theglobeandmail.com/real-estate/vancouver/vancouver-real-estate-agents-face-weak-penalties-for-misconduct/article29549072/\" >Globe’s investigation</a>, Wu is heard saying:<br />\n</span></i><span style=\"font-weight: 400;\">“You must print out the lowest prices in the neighbourhood to show to the homeowner. It is very critical to print out low sale prices in the neighbourhood.”</span></p></blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the release of the Globe&#8217;s investigative report, RECBC swooped in to issue licence conditions on New Coast Realty that included the appointment of a new RECBC-approved broker manager, hiring a trainer that was a licensed realtor and complying with conditions imposed on the firm. Thing is, Wu got off relatively scot-free. As an unlicensed trainer (who doesn&#8217;t actually practice real estate sales) he is not bound to the regulations that are imposed on licensed real estate agents. At the heart of these regulations is the notion that a real estate agent must act in their clients’ interests or risk disciplinary action. </span></p>\n<p>Despite the transgressions, New Coast Realty is still operating. And Wu is still making money—and will, as long as realtors pay their office fees and earn a commission.</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-vancouver-top-neighbourhoods/\">Vancouver’s top neighbourhoods » </a></p>\n<h3><b>No. 3: Re-emergence of shadow flipping</b></h3>\n<p><span style=\"font-weight: 400;\">The big reason why Wu and others push for quick home sales is because they can then turn around and resell that property to another buyer—usually at a much higher price. The agent has now earned two commissions on one property, usually within weeks of the initial sale of the home. It’s a process known as <a href=\"http://www.moneysense.ca/spend/real-estate/recent-real-estate-fraud-sparks-calls-for-change/\" >shadow flipping</a>, although it’s legally known as an assignment sale. </span></p>\n<p>An assignment sale allows the current registered buyer of a property to sell their ownership in the property to another interested buyer, even before the first sale is finalized. The use of assignment sales is most common in the arena of new build condos. It’s not uncommon for Canadian new build condo units to change ownership two, three, even four times before the condo building and its units are actually ready for occupation.</p>\n<p><span style=\"font-weight: 400;\">Here’s the rub: In most provinces in Canada, the sales document does</span><span style=\"font-weight: 400;\"> not automatically give a buyer the option to resell their rights to the property. In most provinces, an extra clause or an entirely separate contract must be completed by both the buyer and the initial seller. This helps keep all transactions and intentions totally transparent.</span></p>\n<p><span style=\"font-weight: 400;\">But this isn’t the case if you&#8217;re doing a real estate deal in B.C.’s lower mainland. In Vancouver, an assignment is part of the assumed package of rights that any seller passes onto the buyer. No other notification is needed, or given, as one </span><a href=\"http://www.theglobeandmail.com/news/national/assignment-flipping-feeding-into-speculative-real-estate-market-in-bc/article28634868/\"><span style=\"font-weight: 400;\">West Vancouver couple</span></a><span style=\"font-weight: 400;\"> learned when their recently sold home was re-listed and resold for more than $1 million more than their final sale price. </span></p>\n<p>So much for transparency.</p>\n<p>In the wake of the negative media headlines, RECBC opted to assign an advisory group to come up with deterrents for a list of questionable practices. Under current B.C. law, RECBC or other real estate boards, can fine a real estate agent a maximum of $10,000. To put this in perspective, in Alberta and Ontario the maximum fine is $25,000 for similar misconduct.</p>\n<p><span style=\"font-weight: 400;\">Still, the council’s actions might be a little too late. B.C. Premier, Christy Clark, recently promised the potential of provincial regulations that would impose tougher penalties for those that try to skirt around current and future regulations. One reason why the province may have decided to act independently of the council is that this isn’t the first time B.C.’s lower mainland has faced shadow flipping problems. In the mid-2000s, during a condo boom, assignment sales were so common that some developers put in clauses to forbid them. The rationale was that hot, frothy markets fuelled by money and speculation would drive up the price and could, potentially, create an unsustainable bubble. Not only that, but as early as </span><span style=\"font-weight: 400;\"> <a href=\"http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/\" >May 2008</a>, the provincial office of the superintendent of real estate released a consumer alert that warned of the risks associated with the assignment of contracts.</span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<h3><b>No. 4: Everything is easier with technology</b></h3>\n<p><span style=\"font-weight: 400;\">Another contributing factor is the ease with which technology has shortened the distance on what used to be a localized economic decision. These days, foreign investors don&#8217;t even need to step foot into Canada to snap up some of the most exclusive real estate in B.C.’s lower mainland. Take, for example, the December 2015 sale of the </span><a href=\"http://www.vancouversun.com/business/Priciest+Metro+Vancouver+homes+draw+buyers+from+China/10875651/story.html\" ><span style=\"font-weight: 400;\">$51.8-million Point Grey mansion</span></a><span style=\"font-weight: 400;\"> (that takes up three building lots and overlooks the ocean). The buyer was Mailin Chen, a businessman from mainland China, and it’s reported that he never even left his home in China to purchase his new Vancouver mansion. (Nor did he buy the home himself. His Vancouver-based company, Chunghwa Investment (Canada) Co. Ltd, did—a company that was incorporated in March 2010 and has an office on Howe Street in downtown Vancouver.)</span></p>\n<p><span style=\"font-weight: 400;\">While Chen’s transaction was legal and transparent, there have been reports that some brokerages and websites aren&#8217;t following the same narrow guidelines when it comes to access to listings. In mid-April of this year, </span><em><a href=\"http://globalnews.ca/news/2637687/critics-say-new-shanghai-based-website-gives-foreign-buyers-first-dibs-on-vancouver-homes/\" ><span style=\"font-weight: 400;\">Global News</span></a></em><span style=\"font-weight: 400;\"> reported that a </span><a href=\"http://www.vanfun.com/\" ><span style=\"font-weight: 400;\">Chinese-language website</span></a><span style=\"font-weight: 400;\">, owned by a company in Shanghai, allegedly pulled information from the Canadian MLS system before the information was made public. As is standard practice throughout most provinces in Canada, all new sales listings are entered into MLS, but aren’t made available to the public for 24 to 72 hours (depending on where you are in Canada). But making this information available to only a segment of the open market has raised </span><span style=\"font-weight: 400;\">concerns that</span><span style=\"font-weight: 400;\"> foreign buyers, investing in Metro Vancouver’s hot real estate market, are getting an unfair jump on new listings. Five days later, RECBC issues a notice stating that they’re looking into the transgression not just on the Vanfun.com site, but also on other similar sites. </span></p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-top-25-vancouver-neighbourhoods-to-buy-in/\">Top 25 Vancouver neighbourhoods to buy in » </a></p>\n<h3><b>No. 5: Money laundering</b></h3>\n<p><span style=\"font-weight: 400;\">Then there are the growing problems of money laundering, </span><a href=\"http://www.theprovince.com/video+tackling+money+laundering+fraud+evasion+vancouver+real+estate/11821480/story.html\" ><span style=\"font-weight: 400;\">fraud and tax evasion</span></a><span style=\"font-weight: 400;\">. </span><span style=\"font-weight: 400;\">The </span><a href=\"https://www.facebook.com/MetroVancouverResidents2016/\" ><span style=\"font-weight: 400;\">Housing Action for Local Taxpayers</span></a><span style=\"font-weight: 400;\">, an advocacy group with an aim to hold politicians accountable for housing affordability, </span><a href=\"http://www.theglobeandmail.com/news/national/vancouver-housing-market-vulnerable-to-money-laundering/article29285770/\" ><span style=\"font-weight: 400;\">says that</span></a><span style=\"font-weight: 400;\"> “houses have become opaque cash banks where funds from offshore can find nice safe places to hide—and there’s no need to show a return on the investment as the primary objective is to hide the funds from overseas tax authorities.”</span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that over the past 12 months, dozens of B.C. real estate brokerages have been caught with “significant” or “very significant” deficiencies, explains </span><em><a href=\"http://www.theglobeandmail.com/try-it-now/?articleId=27640202\"><span style=\"font-weight: 400;\">The Globe and Mail</span></a></em><span style=\"font-weight: 400;\">. The discovery was made when the Financial Transactions and Reports Analysis Centre (FINTRAC), which enforces the federal anti-money-laundering laws, decided to step up scrutiny over worries that money, primarily from China, was being laundered through Vancouver real estate. “There were concerns being raised that those in the real estate sector were not fulfilling the obligations under the act,” said FinTRAC spokesperson Darren Gibb. He added that: “The real estate sector is highly vulnerable to money laundering.” As a result of their investigation, FinTRAC found that some real estate agents were neglecting to get proper ID from clients, such as drivers’ licences or passports; failed to verify sources of money; and some brokerage firms simply didn&#8217;t report suspicious or large cash transactions, an obligation under anti-money-laundering laws.</span></p>\n<p><span style=\"font-weight: 400;\">Dan Zitting, chief product officer for Vancouver “big data” analytics firm </span><a href=\"http://www.acl.com/\"><span style=\"font-weight: 400;\">ACL</span></a><span style=\"font-weight: 400;\">, is an expert on detecting patterns of crime in vast pools of data. In recent <em>Globe and Mail</em> and <em>Vancouver Sun</em> interviews, he explained his fears of widespread fraud in B.C.’s property market. “Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of FINTRAC’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”</span></p>\n<p>The Canadian Real Estate Association (CREA), which leads industry training on anti-money-laundering compliance, retorted recently stating that though there were issues, the real problem lay with FINTRAC. CREA called the federal agency’s training webinar “clearly insufficient.” CREA also points out that to help realtors and brokerages, they invested “heavily” in hiring two staff and commissioning outside firms to help bring real estate agents up to speed. “It would be nice if FINTRAC would invest similar time and effort,” said Randall McCauley, CREA’s vice-president of government and public relations. Mr. McCauley calls it “ridiculous” to expect individual real estate agents to have the same infrastructure as banks or casinos to track clients.</p>\n<p>McCauley also points out that the basic infrastructure of the regulations shows a complete “lack of understanding” of the industry. “A huge percentage of our members help individuals sell, then buy a home within days or weeks,” McCauley said. He wonders: Why the increased scrutiny of any buyer who completes two transactions within five years?</p>\n<h3><b>No. 6: The bar is too low</b></h3>\n<p><span style=\"font-weight: 400;\">Despite the problems, people keep pouring into the city and into the Vancouver real estate industry. There are now more than 12,400 agents in the Vancouver area—up 24% from five years ago. Some say that the growth in this profession, along with the increased errors and broken regulations, are due, in part, to the low bar of entry into the field of real estate. One Re/Max realtor stated, in a recent <em>Globe and Mail</em> article, that he wasn’t surprised by all the errors and omissions (and commissions). “It’s too easy to become a realtor in British Columbia, so the level of compliance is going to be a problem,” says Keith Roy, a real estate agent who also sits on the professional-conduct committee of the Real Estate Board of Greater Vancouver (REBGV), the member-based association that represents licensed real estate agents in the area. “The No. 1 way to increase public protection is to have more than a 10-week online course to get your licence.”</span></p>\n<h3><b>No. 7: Lack of unbiased info</b></h3>\n<p><span style=\"font-weight: 400;\">Vancouver&#8217;s growing housing dilemma has put the city on the top of unaffordable lists everywhere. Recently, Demographia ranked the West-coast city as the second most unaffordable city out of 325 around the world. The only city to beat Vancouver from claiming the top spot: Hong Kong. </span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that no one wants to <em>appear</em> to be killing the cash cow. Worse, is that reliable, unbiased information is hard to come by. In the last year, Ian Young, a reporter at the <em>South China Morning Post</em> <a href=\"http://www.theglobeandmail.com/real-estate/in-vancouver-race-undercuts-the-discussion-on-affordability/article19873510/\" >highlighted how</a> the Centre for Urban Economics and Real Estate, run by UBC business professor Tsur Somerville—the academic most often quoted in the media regarding Vancouver&#8217;s housing issues—</span><span style=\"font-weight: 400;\">receives part of its funding from developers. Turns out so do some of the city&#8217;s so-called urban think-tanks—the supposed thought-leaders on urban development. </span></p>\n<p><span style=\"font-weight: 400;\">Yet, those with no personal or professional stake in the discussion—such as <span style=\"font-weight: 400;\">Yan, <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >Elizabeth Murphy</a>, a private-sector project manager, David Wachsmuth, a former UBC urban geographer, now an urban planning assistant professor at McGill, SFU&#8217;s Andrey Pavlov and B.C’s meticulous urban geographer, </span><span style=\"font-weight: 400;\"><a href=\"http://blogs.vancouversun.com/2014/06/27/why-vancouver-housing-is-unaffordable-and-what-to-do-about-it/\" >David Ley (author of Millionaire Migrants)</a>—end up dominating headlines for the wrong reasons. When Ley released his findings last year on the impact of high immigration rates and foreign ownership have on real estate prices, </span></span>Somerville and others tossed out labels of &#8220;racist&#8221; and &#8220;xenophobic.&#8221;</p>\n<h3><b>No. 8: Vancouver wants to grow</b></h3>\n<p><span style=\"font-weight: 400;\">So, why this push for more homeowners and a greater proportion of international investment money? Because the City of Vancouver wants to grow. City personnel suggest that an increase to market residential zoning needs to expand in order to accommodate the million or more people that will settle in the city by 2041. Problem is, this estimated growth is for the entire lower mainland, with only a small fraction establishing a home in the City of Vancouver.</span></p>\n<p><a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" ><span style=\"font-weight: 400;\">Elizabeth Murphy</span></a><span style=\"font-weight: 400;\">, a private-sector project manager and former property development officer with the City of Vancouver’s Housing and Properties Department and for BC Housing, believes that the city’s rezoning and building plans are anything but transparent. She is convinced that the push for major builds, such as large condo towers, is motivated by those who will benefit financially. She sees the arguments that there is a lack of supply to be misleading and believes that the city is actually overbuilding by approximately 2,000 units every five years. The key, according to Murphy, is not more housing units, but better-suited housing units. She believes metro Vancouverites end up in a position of having to rent out units because the units built are expensive and only “serve to promote Vancouver as an investment commodity rather than a planned community.”</span></p>\n<p>Murphy is also concerned that this will have a long-lasting impact on current residents. “What <span style=\"font-weight: 400;\">most people don’t understand is that all this growth doesn’t make the city any money. On the contrary, the city has to subsidize all this growth. The development fees collected by the city only cover a small fraction, about 10%, of the actual costs of servicing the infrastructure for development and the population growth it brings. The massive development that has been completed over that last few decades has served to increase property taxes and the city’s debt,” <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >she writes</a>.</span></p>\n<p>While some growth in any city is inevitable, Murphy and other critics are trying to open up the discussion about how and what to build. “There are many options as to how growth is implemented. There are choices to be made. A concrete jungle of energy-hog glass towers with ugly and expensive monster houses is not inevitable. We can do better.”</p>\n<p><span style=\"font-weight: 400;\">Up next: How Vancouver&#8217;s unaffordable real estate market could seriously impact the future of this city. </span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">8 reasons why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','8 reasons why Vancouver real estate prices are so crazy','<p>From foreign buyers, to unscrupulous agents, here are the mitigating factors that help to push prices up </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">8 reasons why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10191-revision-v1','','','2016-04-22 08:04:09','2016-04-22 12:04:09','',10191,'http://feedwordpress.radgeek.com/?rev=bf2dd7a439b7d678801f0a51b333260f',0,'revision','',0),(10228,1,'2014-07-26 11:00:02','2014-07-26 11:00:02','KBB\'s brief overview of the Ford F-150 Tremor. \n\nFor the latest F-150 pricing and information:\nhttp://www.kbb.com/car-news/all-the-latest/ford-f150-new/2000010260/\n\nKelley Blue Book is your source for new car reviews, features, auto show coverage, and infotainment reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb\n\nTo follow Micah Muzio on Twitter, please visit: http://www.twitter.com/micahmuzio','2014 Ford F-150 Tremor - KBB Quick Take','','publish','open','open','','2014-ford-f-150-tremor-kbb-quick-take','','','2014-07-26 11:00:02','2014-07-26 11:00:02','',0,'http://www.l2ocredit.com/2014/07/26/2014-ford-f-150-tremor-kbb-quick-take/',0,'post','',0),(10229,0,'2016-04-22 11:38:41','2016-04-22 15:38:41','','2014 Ford F-150 Tremor &#8211; KBB Quick Take','','inherit','open','closed','','2014-ford-f-150-tremor-kbb-quick-take-2','','','2016-04-22 11:38:41','2016-04-22 15:38:41','',10228,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-ford-f-150-tremor-kbb-quick-take-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10230,0,'2016-04-22 11:38:41','2016-04-22 15:38:41','','2014 Ford F-150 Tremor &#8211; KBB Quick Take','','inherit','open','closed','','2014-ford-f-150-tremor-kbb-quick-take-2','','','2016-04-22 11:38:41','2016-04-22 15:38:41','',10228,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-ford-f-150-tremor-kbb-quick-take-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10231,0,'2016-04-22 11:38:41','2016-04-22 15:38:41','','2014 Ford F-150 Tremor &#8211; KBB Quick Take','','inherit','open','closed','','2014-ford-f-150-tremor-kbb-quick-take-3','','','2016-04-22 11:38:41','2016-04-22 15:38:41','',10228,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-ford-f-150-tremor-kbb-quick-take-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10232,1,'2015-03-13 14:51:20','2015-03-13 14:51:20','Ford’s first foray into the mid-size crossover market took place in 2006 when they introduced the Edge.\n\nhttp://www.autoguide.com/manufacturer/ford/2015-ford-edge-review\n\nSubscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. Help shop for your new car with informative car buying tips and car recall news, and be entertained with feature stories, Top 10s and car review videos.','2015 Ford Edge Review First Drive','','publish','open','open','','2015-ford-edge-review-first-drive','','','2015-03-13 14:51:20','2015-03-13 14:51:20','',0,'http://www.l2ocredit.com/2015/03/13/2015-ford-edge-review-first-drive/',0,'post','',0),(10233,0,'2016-04-22 11:53:47','2016-04-22 15:53:47','','2015 Ford Edge Review First Drive','','inherit','open','closed','','2015-ford-edge-review-first-drive-2','','','2016-04-22 11:53:47','2016-04-22 15:53:47','',10232,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-ford-edge-review-first-drive-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10234,0,'2016-04-22 11:53:47','2016-04-22 15:53:47','','2015 Ford Edge Review First Drive','','inherit','open','closed','','2015-ford-edge-review-first-drive-2','','','2016-04-22 11:53:47','2016-04-22 15:53:47','',10232,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-ford-edge-review-first-drive-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10235,1,'2013-06-21 22:13:02','2013-06-21 22:13:02','2014 Chevy Impala with GM Passenger Car Design Director John Cafaro. MotoMan meets General Motors Director of Design for Passenger Cars, John Cafaro, at a top secret collector car garage. Amongst a 1958 Chevrolet Impala Convertible and a 1964 Chevrolet Impala SS coupe, they discuss how the 2014 Chevy Impala almost wasn\'t, John\'s background sketching other iconic Chevrolets and his personal car collection.\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\nhttp://www.youtube.com/motomantv\n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nWebsite - http://www.MotoMan.TV','2014 Chevy Impala with GM Passenger Car Design Director John Cafaro','','publish','open','open','','2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro','','','2013-06-21 22:13:02','2013-06-21 22:13:02','',0,'http://www.l2ocredit.com/2013/06/21/2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro/',0,'post','',0),(10236,0,'2016-04-22 12:14:05','2016-04-22 16:14:05','','2014 Chevy Impala with GM Passenger Car Design Director John Cafaro','','inherit','open','closed','','2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro-2','','','2016-04-22 12:14:05','2016-04-22 16:14:05','',10235,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10237,0,'2016-04-22 12:14:05','2016-04-22 16:14:05','','2014 Chevy Impala with GM Passenger Car Design Director John Cafaro','','inherit','open','closed','','2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro-2','','','2016-04-22 12:14:05','2016-04-22 16:14:05','',10235,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10238,0,'2016-04-22 12:14:05','2016-04-22 16:14:05','','2014 Chevy Impala with GM Passenger Car Design Director John Cafaro','','inherit','open','closed','','2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro-2','','','2016-04-22 12:14:05','2016-04-22 16:14:05','',10235,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10239,0,'2016-04-22 12:14:06','2016-04-22 16:14:06','','2014 Chevy Impala with GM Passenger Car Design Director John Cafaro','','inherit','open','closed','','2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro-3','','','2016-04-22 12:14:06','2016-04-22 16:14:06','',10235,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10240,0,'2016-04-22 12:14:07','2016-04-22 16:14:07','','2014 Chevy Impala with GM Passenger Car Design Director John Cafaro','','inherit','open','closed','','2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro-4','','','2016-04-22 12:14:07','2016-04-22 16:14:07','',10235,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-chevy-impala-with-gm-passenger-car-design-director-john-cafaro-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10241,1,'2014-06-06 22:55:18','2014-06-06 22:55:18','Join me as I check out Volkswagen\'s biggest Passat ever: the North American Passat. (OK, so they sell it in China too) This generation Passat was designed to compete head on with the Camry, Accord and Fusion when it comes to interior space unlike the last generation Passat in America that was always a half step smaller than the competition. In the process the Passat\'s driving dynamics have been dulled, but does the average shopper mind? Let me know in the comment section below.\n\nWhile other VWs get expressive fascias, VW\'s sedan line is pure conservative German design. We have a three-slat horizontal grille up front, a flat character line and little detaining on the side and nothing terribly expressive out back. The adjectives that came to my mind were simple, elegant, and unemotional. No matter how you park it, the Passat never strikes a pose that would offend a conservative mid-size shopper.If you want Euro flair, VW would be happy to sell you a CC which sports more aggressive bumpers, more chrome and sexier tail lamps. hile some in the press have called the Passat boring, I would posit the sedate lines will help the Passat age more gracefully than some of the competition, most notably the Sonata and Camry, however I think the Fusion and Mazda6 are more attractive and dramatic.\n\nMid-size shoppers demand expansive rather than expensive cabins, and VW took note when they redesigned the sedan for the 2012 model year. Our Euro friends may notice that this doesn\'t look quite like the Passat you know in Europe, and that\'s because the American Passat isn\'t the same car as the Euro Passat anymore. Although both Passats are related, the NMS Passat gets a 4-inch body stretch and a 3.7-inch wheelbase stretch, the beneficiary being the rear seat which goes from cozy in the Euro model to ginormous in the American model. Although the numbers would indicate that the Fusion and Passat\'s rear legroom are similar, the devil is in the details of how car makers measure and the Passat is the clear winner here.\n\nSadly Camcord shoppers place fuel economy, electronic doodads and rear-seat leg room higher on their list than squishy dash bits and VW was happy to oblige. As a result the Passat\'s plastics are attractive to look at but just as mainstream to feel as the competition slotting in below the new Accord and well ahead of the aging Korean competition. Speaking of attractive, I find the traditional \"single bump\" dashboard layout to be a refreshing change from the massive dashboards that are creeping into every mis-sized sedan lately. Front seat comfort proved excellent for long car trips, tying with the Accord and Fusion while the rear seats, although large, weren\'t as comfortable as Honda\'s sedan.\n\n\nhe Americanization of the Passat has had an effect on the way VW\'s large sedan drives. The difference is most obvious if you drive the VW CC and the Passat back-to-back. The CC has a more solid and connected feel and the handling limits are higher. That\'s not to say the Passat will let down the VW faithful with Camry-levels of grip, but in the pursuit of higher fuel economy narrower tires we required. In the pursuit of rear leg room, the wheelbase and chassis had to get longer making the American sedan drive larger than the European model. The result is a Passat that slots below the Mazda6, Accord Sport and some levels of Fusion in terms of handling, but notably above the Camry and Korean competition  which have less refined suspension manners.\nStatistics powered by ChannelMeter http://channelmeter.com','2014 / 2015 Volkswagen Passat Review and Road Test   DETAILED','','publish','open','open','','2014-2015-volkswagen-passat-review-and-road-test-detailed','','','2014-06-06 22:55:18','2014-06-06 22:55:18','',0,'http://www.l2ocredit.com/2014/06/06/2014-2015-volkswagen-passat-review-and-road-test-detailed/',0,'post','',0),(10242,0,'2016-04-22 12:33:57','2016-04-22 16:33:57','','2014 / 2015 Volkswagen Passat Review and Road Test   DETAILED','','inherit','open','closed','','2014-2015-volkswagen-passat-review-and-road-test-detailed-2','','','2016-04-22 12:33:57','2016-04-22 16:33:57','',10241,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-2015-volkswagen-passat-review-and-road-test-detailed-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10243,0,'2016-04-22 12:33:58','2016-04-22 16:33:58','','2014 / 2015 Volkswagen Passat Review and Road Test   DETAILED','','inherit','open','closed','','2014-2015-volkswagen-passat-review-and-road-test-detailed-3','','','2016-04-22 12:33:58','2016-04-22 16:33:58','',10241,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-2015-volkswagen-passat-review-and-road-test-detailed-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10244,0,'2016-04-22 12:33:58','2016-04-22 16:33:58','','2014 / 2015 Volkswagen Passat Review and Road Test   DETAILED','','inherit','open','closed','','2014-2015-volkswagen-passat-review-and-road-test-detailed-3','','','2016-04-22 12:33:58','2016-04-22 16:33:58','',10241,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-2015-volkswagen-passat-review-and-road-test-detailed-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10245,1,'2016-04-22 12:23:48','2016-04-22 16:23:48','<p>TORONTO – Manulife has started to offer life insurance for people who are HIV-positive, a first for a Canadian company, the insurer said Friday.</p>\n<p>The company (TSX:MFC) said it made the decision after it reviewed the latest mortality and long-term survival rates of HIV-positive Canadians and gained a better perspective on individual risk profiles.</p>\n<p>“Manulife was the first insurer to underwrite people with diabetes, and we are continuing in that tradition by making life insurance a possibility for the more than 75,000 Canadians who have tested HIV-positive,” Manulife Canada chief executive Marianne Harrison said.</p>\n<p><a href=\"http://www.moneysense.ca/save/financial-planning/the-only-insurance-guide-you-need/\">The only insurance guide you need » </a></p>\n<p>“This is the result of work completed by our research and innovation team and working closely with our colleagues in the United States at John Hancock.”</p>\n<p>The company said applicants who have tested HIV-positive, are between the ages of 30 and 65, and meet certain criteria, can apply for individual life insurance for up to $2 million.</p>\n<p>A revolution in drug treatments in recent years has changed an HIV-positive diagnosis from one of a quick death sentence to a chronic disease that can be managed with proper medication.</p>\n<p><a href=\"http://www.moneysense.ca/magazine-archive/life-insurance-is-term-life-always-enough/\">Life insurance: Is term life always enough? » </a></p>\n<p>A report last year by the Canadian Observational Cohort Collaboration said the overall life expectancy of Canadians undergoing antiretroviral treatment for the AIDS-causing virus had climbed to 65 years.</p>\n<p>Gary Lacasse, executive director of the Canadian AIDS Society, said he wanted to see the specifics of what Manulife is offering, but called it good news.</p>\n<p>“If they look at the scientific data it’s a chronic disease now,” he said. “It’s not a deadly disease.</p>\n<p>“We hope that the rest of the industry will follow suit.”</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/insurance/manulife-to-offer-life-insurance-to-hiv-positive-canadians/\">Manulife to offer life insurance to HIV-positive Canadians</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Manulife to offer life insurance to HIV-positive Canadians','<p>It\'s the first insurer to do so</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/insurance/manulife-to-offer-life-insurance-to-hiv-positive-canadians/\">Manulife to offer life insurance to HIV-positive Canadians</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','pending','closed','closed','','','','','2016-04-22 12:23:48','2016-04-22 16:23:48','',0,'http://www.moneysense.ca/?p=153548',0,'post','',0),(10246,1,'2016-04-22 12:23:48','2016-04-22 16:23:48','<p>TORONTO – Manulife has started to offer life insurance for people who are HIV-positive, a first for a Canadian company, the insurer said Friday.</p>\n<p>The company (TSX:MFC) said it made the decision after it reviewed the latest mortality and long-term survival rates of HIV-positive Canadians and gained a better perspective on individual risk profiles.</p>\n<p>“Manulife was the first insurer to underwrite people with diabetes, and we are continuing in that tradition by making life insurance a possibility for the more than 75,000 Canadians who have tested HIV-positive,” Manulife Canada chief executive Marianne Harrison said.</p>\n<p><a href=\"http://www.moneysense.ca/save/financial-planning/the-only-insurance-guide-you-need/\">The only insurance guide you need » </a></p>\n<p>“This is the result of work completed by our research and innovation team and working closely with our colleagues in the United States at John Hancock.”</p>\n<p>The company said applicants who have tested HIV-positive, are between the ages of 30 and 65, and meet certain criteria, can apply for individual life insurance for up to $2 million.</p>\n<p>A revolution in drug treatments in recent years has changed an HIV-positive diagnosis from one of a quick death sentence to a chronic disease that can be managed with proper medication.</p>\n<p><a href=\"http://www.moneysense.ca/magazine-archive/life-insurance-is-term-life-always-enough/\">Life insurance: Is term life always enough? » </a></p>\n<p>A report last year by the Canadian Observational Cohort Collaboration said the overall life expectancy of Canadians undergoing antiretroviral treatment for the AIDS-causing virus had climbed to 65 years.</p>\n<p>Gary Lacasse, executive director of the Canadian AIDS Society, said he wanted to see the specifics of what Manulife is offering, but called it good news.</p>\n<p>“If they look at the scientific data it’s a chronic disease now,” he said. “It’s not a deadly disease.</p>\n<p>“We hope that the rest of the industry will follow suit.”</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/insurance/manulife-to-offer-life-insurance-to-hiv-positive-canadians/\">Manulife to offer life insurance to HIV-positive Canadians</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Manulife to offer life insurance to HIV-positive Canadians','<p>It\'s the first insurer to do so</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/insurance/manulife-to-offer-life-insurance-to-hiv-positive-canadians/\">Manulife to offer life insurance to HIV-positive Canadians</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','pending','closed','closed','','','','','2016-04-22 12:23:48','2016-04-22 16:23:48','',0,'http://www.moneysense.ca/?p=153548',0,'post','',0),(10247,1,'2016-04-22 12:23:48','2016-04-22 16:23:48','<p>TORONTO – Manulife has started to offer life insurance for people who are HIV-positive, a first for a Canadian company, the insurer said Friday.</p>\n<p>The company (TSX:MFC) said it made the decision after it reviewed the latest mortality and long-term survival rates of HIV-positive Canadians and gained a better perspective on individual risk profiles.</p>\n<p>“Manulife was the first insurer to underwrite people with diabetes, and we are continuing in that tradition by making life insurance a possibility for the more than 75,000 Canadians who have tested HIV-positive,” Manulife Canada chief executive Marianne Harrison said.</p>\n<p><a href=\"http://www.moneysense.ca/save/financial-planning/the-only-insurance-guide-you-need/\">The only insurance guide you need » </a></p>\n<p>“This is the result of work completed by our research and innovation team and working closely with our colleagues in the United States at John Hancock.”</p>\n<p>The company said applicants who have tested HIV-positive, are between the ages of 30 and 65, and meet certain criteria, can apply for individual life insurance for up to $2 million.</p>\n<p>A revolution in drug treatments in recent years has changed an HIV-positive diagnosis from one of a quick death sentence to a chronic disease that can be managed with proper medication.</p>\n<p><a href=\"http://www.moneysense.ca/magazine-archive/life-insurance-is-term-life-always-enough/\">Life insurance: Is term life always enough? » </a></p>\n<p>A report last year by the Canadian Observational Cohort Collaboration said the overall life expectancy of Canadians undergoing antiretroviral treatment for the AIDS-causing virus had climbed to 65 years.</p>\n<p>Gary Lacasse, executive director of the Canadian AIDS Society, said he wanted to see the specifics of what Manulife is offering, but called it good news.</p>\n<p>“If they look at the scientific data it’s a chronic disease now,” he said. “It’s not a deadly disease.</p>\n<p>“We hope that the rest of the industry will follow suit.”</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/insurance/manulife-to-offer-life-insurance-to-hiv-positive-canadians/\">Manulife to offer life insurance to HIV-positive Canadians</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Manulife to offer life insurance to HIV-positive Canadians','<p>It\'s the first insurer to do so</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/insurance/manulife-to-offer-life-insurance-to-hiv-positive-canadians/\">Manulife to offer life insurance to HIV-positive Canadians</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10245-revision-v1','','','2016-04-22 12:23:48','2016-04-22 16:23:48','',10245,'http://feedwordpress.radgeek.com/?rev=a565626cc4d615ab0fa1128950256610',0,'revision','',0),(10248,1,'2016-04-22 12:23:48','2016-04-22 16:23:48','<p>TORONTO – Manulife has started to offer life insurance for people who are HIV-positive, a first for a Canadian company, the insurer said Friday.</p>\n<p>The company (TSX:MFC) said it made the decision after it reviewed the latest mortality and long-term survival rates of HIV-positive Canadians and gained a better perspective on individual risk profiles.</p>\n<p>“Manulife was the first insurer to underwrite people with diabetes, and we are continuing in that tradition by making life insurance a possibility for the more than 75,000 Canadians who have tested HIV-positive,” Manulife Canada chief executive Marianne Harrison said.</p>\n<p><a href=\"http://www.moneysense.ca/save/financial-planning/the-only-insurance-guide-you-need/\">The only insurance guide you need » </a></p>\n<p>“This is the result of work completed by our research and innovation team and working closely with our colleagues in the United States at John Hancock.”</p>\n<p>The company said applicants who have tested HIV-positive, are between the ages of 30 and 65, and meet certain criteria, can apply for individual life insurance for up to $2 million.</p>\n<p>A revolution in drug treatments in recent years has changed an HIV-positive diagnosis from one of a quick death sentence to a chronic disease that can be managed with proper medication.</p>\n<p><a href=\"http://www.moneysense.ca/magazine-archive/life-insurance-is-term-life-always-enough/\">Life insurance: Is term life always enough? » </a></p>\n<p>A report last year by the Canadian Observational Cohort Collaboration said the overall life expectancy of Canadians undergoing antiretroviral treatment for the AIDS-causing virus had climbed to 65 years.</p>\n<p>Gary Lacasse, executive director of the Canadian AIDS Society, said he wanted to see the specifics of what Manulife is offering, but called it good news.</p>\n<p>“If they look at the scientific data it’s a chronic disease now,” he said. “It’s not a deadly disease.</p>\n<p>“We hope that the rest of the industry will follow suit.”</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/insurance/manulife-to-offer-life-insurance-to-hiv-positive-canadians/\">Manulife to offer life insurance to HIV-positive Canadians</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Manulife to offer life insurance to HIV-positive Canadians','<p>It\'s the first insurer to do so</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/insurance/manulife-to-offer-life-insurance-to-hiv-positive-canadians/\">Manulife to offer life insurance to HIV-positive Canadians</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10246-revision-v1','','','2016-04-22 12:23:48','2016-04-22 16:23:48','',10246,'http://feedwordpress.radgeek.com/?rev=a565626cc4d615ab0fa1128950256610',0,'revision','',0),(10249,1,'2016-04-22 08:04:09','2016-04-22 12:04:09','<div id=\"attachment_120794\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img class=\"size-large wp-image-120794\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg\" alt=\"(Barrett &amp; MacKay/Getty Images)\" width=\"1024\" height=\"690\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-300x202.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg 1024w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-660x444.jpg 660w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" /><p class=\"wp-caption-text\">(Barrett &amp; MacKay/Getty Images)</p></div>\n<p><b></b><span style=\"font-weight: 400;\">Vancouver&#8217;s real estate market is messed up. It&#8217;s really messed up. As a result it&#8217;s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada&#8217;s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland. </span></p>\n<h3><b>No. 1: Foreign buyers</b></h3>\n<p><span style=\"font-weight: 400;\">It’s not very Canadian to discuss the impact of immigration, particularly if it’s negative. But the truth is the Vancouver real estate market <em>has</em> felt the impact of foreign money—in particular, money from rich foreigners. Much of this money comes from mainland China. Also not a very Canadian thing to say. But it’s true. How do we know? Because the phenomenon has been tracked, studied and recorded—and not just in Vancouver. </span></p>\n<p>Data collected by David Ley shows how, over the last few decades, metro Vancouver has become similar to other Pacific Rim “gateway” cities, such as Hong Kong, Singapore, London and Sydney. Each of these gateway cities have rising housing costs that are fuelled by high immigration-driven population growth and foreign investors.</p>\n<p>“In every one of these cities the market is being driven by something other than owner-occupiers. Not just new immigrants, but investors, including offshore investment,” explains Ley. Through his analysis, Ley discovered that in the last 25 years, there’s been an almost 1-to-1 correlation between Vancouver’s rising real estate prices and the surge in international immigration and offshore investors to this West-coast city.</p>\n<p>Ley isn&#8217;t the only one tracking this trend. University of Waterloo geographer Markus Moos and Queen’s University planner Andrejs Skaburskis back up Ley’s findings. Both Moos and Skaburskis concede that Vancouver is an “exceptional” example of how “globalization” can affect a local housing market.</p>\n<p>The biggest contributor to these rising housing prices is that these immigrants not only arrive with great wealth, but continue to earn high incomes outside of Canada. This accumulation and access to money and its investment in Vancouver property led to a “decoupling of housing from local labour market participation,” wrote Moos and Skaburskis.</p>\n<p>Even data released by the city of Vancouver backs up the assertions by these scholars. According to district data virtually nine out of 10 newcomers in the past 20 years were born outside the country—mostly in Asia. City data also shows that many of these new property owners are “circulatory migrants”—foreigners who invest in property in Canada while working offshore.</p>\n<p>Some detractors of this data argue that rich foreigners only invest in luxury properties—purchases that don&#8217;t impact neighbourhoods (and prices) where regular, middle-class Vancouverites choose to buy homes. But that’s just not true.</p>\n<p>Ley describes the impact as a “trickle-down effect,” which occurs when rich immigrants and investors push up housing prices across the entire lower mainland real estate market. It’s a phenomenon that Andy Yan, an urban planning researcher and adjunct professor at University of British Columbia (UBC), has been documenting for years. He turned his <a href=\"http://www.slideshare.net/ayan604/ownership-patterns-of-single-family-homes-sales-on-the-west-side-neighborhoods-of-the-city-of-vancouver-a-case-study\" >data and research</a> into maps that document the growth of home prices in metro Vancouver. In the first map (below) there are virtually no properties east of Main Street listed for over $1 million.</p>\n<div id=\"attachment_153022\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153022\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png\" alt=\"(Andy Yan, 2014 / BTA Works)\" width=\"498\" height=\"421\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014-300x254.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png 498w\" sizes=\"(max-width: 498px) 100vw, 498px\" /><p class=\"wp-caption-text\">(Andy Yan, 2014 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The second map (below) shows 2015 home prices in metro Vancouver. Notice how many of the homes east of Main Street are now priced at $1 million or more. </span></p>\n<div id=\"attachment_153024\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153024\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png\" alt=\"(Andy Yan, 2015 / BTA Works)\" width=\"529\" height=\"408\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015-300x231.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png 529w\" sizes=\"(max-width: 529px) 100vw, 529px\" /><p class=\"wp-caption-text\">(Andy Yan, 2015 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The final map (below) shows 2016 housing prices. Notice how the number of houses selling for over $1 million has increased dramatically. Now, the sea of red spreads past metro Vancouver and into the inner suburbs. </span></p>\n<div id=\"attachment_153026\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153026\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png\" alt=\"(Andy Yan, 2016 / BTA Works) \" width=\"524\" height=\"407\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016-300x233.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png 524w\" sizes=\"(max-width: 524px) 100vw, 524px\" /><p class=\"wp-caption-text\">(Andy Yan, 2016 / BTA Works)</p></div>\n<p>“It’s not as if you can draw a clear partition. The property values in the west side influence the prices in the east side. Demand is just deflected, for example, from Kitsilano to Main Street and Commercial Drive,” says Ley. Now, the problem extends well beyond the city limits and into the suburbs.</p>\n<p>“Some investors are buying a few houses at the same time,” states one exasperated reader. “Some of the deals are even arranged remotely from overseas. This will eventually mean that more and more people will have no choice but to look for jobs in other provinces.”</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\">Canada&#8217;s best deals in real estate 2016 » </a></p>\n<h3><b>No. </b><b>2: Ineffective regulation</b></h3>\n<p><span style=\"font-weight: 400;\">But foreign buyers aren’t the only culprits in Vancouver’s messy real estate market. Fast money, unscrupulous people, and a general malaise when it comes to defining and enforcing bad conduct has taken its toll on the city. </span></p>\n<p><span style=\"font-weight: 400;\">A recent </span><a href=\"http://www.theglobeandmail.com/news/investigations/inside-a-fast-growing-bc-firm-that-has-home-sellers-crying-foul/article29578417/\" ><span style=\"font-weight: 400;\"><em>Globe and Mail</em> investigation</span></a><span style=\"font-weight: 400;\"> found that Vancouver real estate agents who were disciplined for wrongdoing faced fines and suspensions that were nothing short of a joke when compared to the hefty commissions earned on real estate transactions. The <em>Globe</em>’s report showed that of the more than 100 recent disciplinary proceedings, some confidential, the fines averaged out at $4,850. Compare this to the potential commission on a $1.78-million home—the average price paid in metro Vancouver in the first quarter of 2016—which works out to $22,500, and you can see why some agents simply consider these fines as the cost of doing business.</span></p>\n<p>What’s worse is the <em>Globe and Mail</em> investigation found that only a fraction of agents lost their licences over misconduct. Those who did receive a suspension were barred, on average, from practising for six weeks. In comparison, the Fraser Valley Real Estate Board—the private board in charge of lower mainland real estate, such as Langley and Abbotsford—is known for much stiffer penalties for realtors that breach ethics or regulations.</p>\n<p>“Some people have done some really bad things and they just get a slap on the wrist,” says Janet Mackenzie, a Vancouver regulatory affairs executive, who spoke to the <em>Globe</em>, late last year. “Having [agents] policing [agents] has shown to not be the best model.”</p>\n<p>Mackenzie actually found herself in the middle of the problem when her own real estate agent forged her signature during a condo deal a few years ago. Mackenzie lodged a complaint with the Real Estate Council of B.C. (RECBC), the self-regulating body for the province’s real estate industry. She had to wait two years before RECBC made a ruling—part of it was public and part was private. Publicly, Mackenzie was told her agent was fined $1,250 and given a four month suspension. Privately, RECBC also imposed a $10,000 fine and banned the agent from using the Multiple Listings Service for a year. But it wasn&#8217;t until the <em>Globe</em>&#8216;s investigation that Mackenzie even learned of this subsequent penalty.</p>\n<p>Then there was the recent case that involved New Coast Realty. The brokerage was home to 445 real estate agents and was run by 42-year-old Ze Yu Wu, a permanent resident who moved to Canada from China a year ago, and an unlicensed trainer who taught and encouraged his agents to low-ball and lie to potential sellers in order to earn bigger commissions re-selling the listed homes.</p>\n<blockquote><p><i><span style=\"font-weight: 400;\">In a transcript from the <a href=\"http://www.theglobeandmail.com/real-estate/vancouver/vancouver-real-estate-agents-face-weak-penalties-for-misconduct/article29549072/\" >Globe’s investigation</a>, Wu is heard saying:<br />\n</span></i><span style=\"font-weight: 400;\">“You must print out the lowest prices in the neighbourhood to show to the homeowner. It is very critical to print out low sale prices in the neighbourhood.”</span></p></blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the release of the Globe&#8217;s investigative report, RECBC swooped in to issue licence conditions on New Coast Realty that included the appointment of a new RECBC-approved broker manager, hiring a trainer that was a licensed realtor and complying with conditions imposed on the firm. Thing is, Wu got off relatively scot-free. As an unlicensed trainer (who doesn&#8217;t actually practice real estate sales) he is not bound to the regulations that are imposed on licensed real estate agents. At the heart of these regulations is the notion that a real estate agent must act in their clients’ interests or risk disciplinary action. </span></p>\n<p>Despite the transgressions, New Coast Realty is still operating. And Wu is still making money—and will, as long as realtors pay their office fees and earn a commission.</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-vancouver-top-neighbourhoods/\">Vancouver’s top neighbourhoods » </a></p>\n<h3><b>No. 3: Re-emergence of shadow flipping</b></h3>\n<p><span style=\"font-weight: 400;\">The big reason why Wu and others push for quick home sales is because they can then turn around and resell that property to another buyer—usually at a much higher price. The agent has now earned two commissions on one property, usually within weeks of the initial sale of the home. It’s a process known as <a href=\"http://www.moneysense.ca/spend/real-estate/recent-real-estate-fraud-sparks-calls-for-change/\" >shadow flipping</a>, although it’s legally known as an assignment sale. </span></p>\n<p>An assignment sale allows the current registered buyer of a property to sell their ownership in the property to another interested buyer, even before the first sale is finalized. The use of assignment sales is most common in the arena of new build condos. It’s not uncommon for Canadian new build condo units to change ownership two, three, even four times before the condo building and its units are actually ready for occupation.</p>\n<p><span style=\"font-weight: 400;\">Here’s the rub: In most provinces in Canada, the sales document does</span><span style=\"font-weight: 400;\"> not automatically give a buyer the option to resell their rights to the property. In most provinces, an extra clause or an entirely separate contract must be completed by both the buyer and the initial seller. This helps keep all transactions and intentions totally transparent.</span></p>\n<p><span style=\"font-weight: 400;\">But this isn’t the case if you&#8217;re doing a real estate deal in B.C.’s lower mainland. In Vancouver, an assignment is part of the assumed package of rights that any seller passes onto the buyer. No other notification is needed, or given, as one </span><a href=\"http://www.theglobeandmail.com/news/national/assignment-flipping-feeding-into-speculative-real-estate-market-in-bc/article28634868/\"><span style=\"font-weight: 400;\">West Vancouver couple</span></a><span style=\"font-weight: 400;\"> learned when their recently sold home was re-listed and resold for more than $1 million more than their final sale price. </span></p>\n<p>So much for transparency.</p>\n<p>In the wake of the negative media headlines, RECBC opted to assign an advisory group to come up with deterrents for a list of questionable practices. Under current B.C. law, RECBC or other real estate boards, can fine a real estate agent a maximum of $10,000. To put this in perspective, in Alberta and Ontario the maximum fine is $25,000 for similar misconduct.</p>\n<p><span style=\"font-weight: 400;\">Still, the council’s actions might be a little too late. B.C. Premier, Christy Clark, recently promised the potential of provincial regulations that would impose tougher penalties for those that try to skirt around current and future regulations. One reason why the province may have decided to act independently of the council is that this isn’t the first time B.C.’s lower mainland has faced shadow flipping problems. In the mid-2000s, during a condo boom, assignment sales were so common that some developers put in clauses to forbid them. The rationale was that hot, frothy markets fuelled by money and speculation would drive up the price and could, potentially, create an unsustainable bubble. Not only that, but as early as </span><span style=\"font-weight: 400;\"> <a href=\"http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/\" >May 2008</a>, the provincial office of the superintendent of real estate released a consumer alert that warned of the risks associated with the assignment of contracts.</span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<h3><b>No. 4: Everything is easier with technology</b></h3>\n<p><span style=\"font-weight: 400;\">Another contributing factor is the ease with which technology has shortened the distance on what used to be a localized economic decision. These days, foreign investors don&#8217;t even need to step foot into Canada to snap up some of the most exclusive real estate in B.C.’s lower mainland. Take, for example, the December 2015 sale of the </span><a href=\"http://www.vancouversun.com/business/Priciest+Metro+Vancouver+homes+draw+buyers+from+China/10875651/story.html\" ><span style=\"font-weight: 400;\">$51.8-million Point Grey mansion</span></a><span style=\"font-weight: 400;\"> (that takes up three building lots and overlooks the ocean). The buyer was Mailin Chen, a businessman from mainland China, and it’s reported that he never even left his home in China to purchase his new Vancouver mansion. (Nor did he buy the home himself. His Vancouver-based company, Chunghwa Investment (Canada) Co. Ltd, did—a company that was incorporated in March 2010 and has an office on Howe Street in downtown Vancouver.)</span></p>\n<p><span style=\"font-weight: 400;\">While Chen’s transaction was legal and transparent, there have been reports that some brokerages and websites aren&#8217;t following the same narrow guidelines when it comes to access to listings. In mid-April of this year, </span><em><a href=\"http://globalnews.ca/news/2637687/critics-say-new-shanghai-based-website-gives-foreign-buyers-first-dibs-on-vancouver-homes/\" ><span style=\"font-weight: 400;\">Global News</span></a></em><span style=\"font-weight: 400;\"> reported that a </span><a href=\"http://www.vanfun.com/\" ><span style=\"font-weight: 400;\">Chinese-language website</span></a><span style=\"font-weight: 400;\">, owned by a company in Shanghai, allegedly pulled information from the Canadian MLS system before the information was made public. As is standard practice throughout most provinces in Canada, all new sales listings are entered into MLS, but aren’t made available to the public for 24 to 72 hours (depending on where you are in Canada). But making this information available to only a segment of the open market has raised </span><span style=\"font-weight: 400;\">concerns that</span><span style=\"font-weight: 400;\"> foreign buyers, investing in Metro Vancouver’s hot real estate market, are getting an unfair jump on new listings. Five days later, RECBC issues a notice stating that they’re looking into the transgression not just on the Vanfun.com site, but also on other similar sites. </span></p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-top-25-vancouver-neighbourhoods-to-buy-in/\">Top 25 Vancouver neighbourhoods to buy in » </a></p>\n<h3><b>No. 5: Money laundering</b></h3>\n<p><span style=\"font-weight: 400;\">Then there are the growing problems of money laundering, </span><a href=\"http://www.theprovince.com/video+tackling+money+laundering+fraud+evasion+vancouver+real+estate/11821480/story.html\" ><span style=\"font-weight: 400;\">fraud and tax evasion</span></a><span style=\"font-weight: 400;\">. </span><span style=\"font-weight: 400;\">The </span><a href=\"https://www.facebook.com/MetroVancouverResidents2016/\" ><span style=\"font-weight: 400;\">Housing Action for Local Taxpayers</span></a><span style=\"font-weight: 400;\">, an advocacy group with an aim to hold politicians accountable for housing affordability, </span><a href=\"http://www.theglobeandmail.com/news/national/vancouver-housing-market-vulnerable-to-money-laundering/article29285770/\" ><span style=\"font-weight: 400;\">says that</span></a><span style=\"font-weight: 400;\"> “houses have become opaque cash banks where funds from offshore can find nice safe places to hide—and there’s no need to show a return on the investment as the primary objective is to hide the funds from overseas tax authorities.”</span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that over the past 12 months, dozens of B.C. real estate brokerages have been caught with “significant” or “very significant” deficiencies, explains </span><em><a href=\"http://www.theglobeandmail.com/try-it-now/?articleId=27640202\"><span style=\"font-weight: 400;\">The Globe and Mail</span></a></em><span style=\"font-weight: 400;\">. The discovery was made when the Financial Transactions and Reports Analysis Centre (FINTRAC), which enforces the federal anti-money-laundering laws, decided to step up scrutiny over worries that money, primarily from China, was being laundered through Vancouver real estate. “There were concerns being raised that those in the real estate sector were not fulfilling the obligations under the act,” said FinTRAC spokesperson Darren Gibb. He added that: “The real estate sector is highly vulnerable to money laundering.” As a result of their investigation, FinTRAC found that some real estate agents were neglecting to get proper ID from clients, such as drivers’ licences or passports; failed to verify sources of money; and some brokerage firms simply didn&#8217;t report suspicious or large cash transactions, an obligation under anti-money-laundering laws.</span></p>\n<p><span style=\"font-weight: 400;\">Dan Zitting, chief product officer for Vancouver “big data” analytics firm </span><a href=\"http://www.acl.com/\"><span style=\"font-weight: 400;\">ACL</span></a><span style=\"font-weight: 400;\">, is an expert on detecting patterns of crime in vast pools of data. In recent <em>Globe and Mail</em> and <em>Vancouver Sun</em> interviews, he explained his fears of widespread fraud in B.C.’s property market. “Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of FINTRAC’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”</span></p>\n<p>The Canadian Real Estate Association (CREA), which leads industry training on anti-money-laundering compliance, retorted recently stating that though there were issues, the real problem lay with FINTRAC. CREA called the federal agency’s training webinar “clearly insufficient.” CREA also points out that to help realtors and brokerages, they invested “heavily” in hiring two staff and commissioning outside firms to help bring real estate agents up to speed. “It would be nice if FINTRAC would invest similar time and effort,” said Randall McCauley, CREA’s vice-president of government and public relations. Mr. McCauley calls it “ridiculous” to expect individual real estate agents to have the same infrastructure as banks or casinos to track clients.</p>\n<p>McCauley also points out that the basic infrastructure of the regulations shows a complete “lack of understanding” of the industry. “A huge percentage of our members help individuals sell, then buy a home within days or weeks,” McCauley said. He wonders: Why the increased scrutiny of any buyer who completes two transactions within five years?</p>\n<h3><b>No. 6: The bar is too low</b></h3>\n<p><span style=\"font-weight: 400;\">Despite the problems, people keep pouring into the city and into the Vancouver real estate industry. There are now more than 12,400 agents in the Vancouver area—up 24% from five years ago. Some say that the growth in this profession, along with the increased errors and broken regulations, are due, in part, to the low bar of entry into the field of real estate. One Re/Max realtor stated, in a recent <em>Globe and Mail</em> article, that he wasn’t surprised by all the errors and omissions (and commissions). “It’s too easy to become a realtor in British Columbia, so the level of compliance is going to be a problem,” says Keith Roy, a real estate agent who also sits on the professional-conduct committee of the Real Estate Board of Greater Vancouver (REBGV), the member-based association that represents licensed real estate agents in the area. “The No. 1 way to increase public protection is to have more than a 10-week online course to get your licence.”</span></p>\n<h3><b>No. 7: Lack of unbiased info</b></h3>\n<p><span style=\"font-weight: 400;\">Vancouver&#8217;s growing housing dilemma has put the city on the top of unaffordable lists everywhere. Recently, Demographia ranked the West-coast city as the second most unaffordable city out of 325 around the world. The only city to beat Vancouver from claiming the top spot: Hong Kong. </span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that no one wants to <em>appear</em> to be killing the cash cow. Worse, is that reliable, unbiased information is hard to come by. In the last year, Ian Young, a reporter at the <em>South China Morning Post</em> <a href=\"http://www.theglobeandmail.com/real-estate/in-vancouver-race-undercuts-the-discussion-on-affordability/article19873510/\" >highlighted how</a> the Centre for Urban Economics and Real Estate, run by UBC business professor Tsur Somerville—the academic most often quoted in the media regarding Vancouver&#8217;s housing issues—</span><span style=\"font-weight: 400;\">receives part of its funding from developers. Turns out so do some of the city&#8217;s so-called urban think-tanks—the supposed thought-leaders on urban development. </span></p>\n<p><span style=\"font-weight: 400;\">Yet, those with no personal or professional stake in the discussion—such as <span style=\"font-weight: 400;\">Yan, <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >Elizabeth Murphy</a>, a private-sector project manager, David Wachsmuth, a former UBC urban geographer, now an urban planning assistant professor at McGill, SFU&#8217;s Andrey Pavlov and B.C’s meticulous urban geographer, </span><span style=\"font-weight: 400;\"><a href=\"http://blogs.vancouversun.com/2014/06/27/why-vancouver-housing-is-unaffordable-and-what-to-do-about-it/\" >David Ley (author of Millionaire Migrants)</a>—end up dominating headlines for the wrong reasons. When Ley released his findings last year on the impact of high immigration rates and foreign ownership have on real estate prices, </span></span>Somerville and others tossed out labels of &#8220;racist&#8221; and &#8220;xenophobic.&#8221;</p>\n<h3><b>No. 8: Vancouver wants to grow</b></h3>\n<p><span style=\"font-weight: 400;\">So, why this push for more homeowners and a greater proportion of international investment money? Because the City of Vancouver wants to grow. City personnel suggest that an increase to market residential zoning needs to expand in order to accommodate the million or more people that will settle in the city by 2041. Problem is, this estimated growth is for the entire lower mainland, with only a small fraction establishing a home in the City of Vancouver.</span></p>\n<p><a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" ><span style=\"font-weight: 400;\">Elizabeth Murphy</span></a><span style=\"font-weight: 400;\">, a private-sector project manager and former property development officer with the City of Vancouver’s Housing and Properties Department and for BC Housing, believes that the city’s rezoning and building plans are anything but transparent. She is convinced that the push for major builds, such as large condo towers, is motivated by those who will benefit financially. She sees the arguments that there is a lack of supply to be misleading and believes that the city is actually overbuilding by approximately 2,000 units every five years. The key, according to Murphy, is not more housing units, but better-suited housing units. She believes metro Vancouverites end up in a position of having to rent out units because the units built are expensive and only “serve to promote Vancouver as an investment commodity rather than a planned community.”</span></p>\n<p>Murphy is also concerned that this will have a long-lasting impact on current residents. “What <span style=\"font-weight: 400;\">most people don’t understand is that all this growth doesn’t make the city any money. On the contrary, the city has to subsidize all this growth. The development fees collected by the city only cover a small fraction, about 10%, of the actual costs of servicing the infrastructure for development and the population growth it brings. The massive development that has been completed over that last few decades has served to increase property taxes and the city’s debt,” <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >she writes</a>.</span></p>\n<p>While some growth in any city is inevitable, Murphy and other critics are trying to open up the discussion about how and what to build. “There are many options as to how growth is implemented. There are choices to be made. A concrete jungle of energy-hog glass towers with ugly and expensive monster houses is not inevitable. We can do better.”</p>\n<p><span style=\"font-weight: 400;\">Up next: How Vancouver&#8217;s unaffordable real estate market could seriously impact the future of this city. </span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Why Vancouver real estate prices are so crazy','<p>From foreign buyers, to unscrupulous agents, here are the factors that help push prices up </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10191-revision-v1','','','2016-04-22 08:04:09','2016-04-22 12:04:09','',10191,'http://feedwordpress.radgeek.com/?rev=92a6a725a0950573c46951c6785791d9',0,'revision','',0),(10250,1,'2016-04-22 08:04:09','2016-04-22 12:04:09','<div id=\"attachment_120794\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img class=\"size-large wp-image-120794\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg\" alt=\"(Barrett &amp; MacKay/Getty Images)\" width=\"1024\" height=\"690\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-300x202.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg 1024w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-660x444.jpg 660w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" /><p class=\"wp-caption-text\">(Barrett &amp; MacKay/Getty Images)</p></div>\n<p><b></b><span style=\"font-weight: 400;\">Vancouver&#8217;s real estate market is messed up. It&#8217;s really messed up. As a result it&#8217;s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada&#8217;s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland. </span></p>\n<h3><b>No. 1: Foreign buyers</b></h3>\n<p><span style=\"font-weight: 400;\">It’s not very Canadian to discuss the impact of immigration, particularly if it’s negative. But the truth is the Vancouver real estate market <em>has</em> felt the impact of foreign money—in particular, money from rich foreigners. Much of this money comes from mainland China. Also not a very Canadian thing to say. But it’s true. How do we know? Because the phenomenon has been tracked, studied and recorded—and not just in Vancouver. </span></p>\n<p>Data collected by David Ley shows how, over the last few decades, metro Vancouver has become similar to other Pacific Rim “gateway” cities, such as Hong Kong, Singapore, London and Sydney. Each of these gateway cities have rising housing costs that are fuelled by high immigration-driven population growth and foreign investors.</p>\n<p>“In every one of these cities the market is being driven by something other than owner-occupiers. Not just new immigrants, but investors, including offshore investment,” explains Ley. Through his analysis, Ley discovered that in the last 25 years, there’s been an almost 1-to-1 correlation between Vancouver’s rising real estate prices and the surge in international immigration and offshore investors to this West-coast city.</p>\n<p>Ley isn&#8217;t the only one tracking this trend. University of Waterloo geographer Markus Moos and Queen’s University planner Andrejs Skaburskis back up Ley’s findings. Both Moos and Skaburskis concede that Vancouver is an “exceptional” example of how “globalization” can affect a local housing market.</p>\n<p>The biggest contributor to these rising housing prices is that these immigrants not only arrive with great wealth, but continue to earn high incomes outside of Canada. This accumulation and access to money and its investment in Vancouver property led to a “decoupling of housing from local labour market participation,” wrote Moos and Skaburskis.</p>\n<p>Even data released by the city of Vancouver backs up the assertions by these scholars. According to district data virtually nine out of 10 newcomers in the past 20 years were born outside the country—mostly in Asia. City data also shows that many of these new property owners are “circulatory migrants”—foreigners who invest in property in Canada while working offshore.</p>\n<p>Some detractors of this data argue that rich foreigners only invest in luxury properties—purchases that don&#8217;t impact neighbourhoods (and prices) where regular, middle-class Vancouverites choose to buy homes. But that’s just not true.</p>\n<p>Ley describes the impact as a “trickle-down effect,” which occurs when rich immigrants and investors push up housing prices across the entire lower mainland real estate market. It’s a phenomenon that Andy Yan, an urban planning researcher and adjunct professor at University of British Columbia (UBC), has been documenting for years. He turned his <a href=\"http://www.slideshare.net/ayan604/ownership-patterns-of-single-family-homes-sales-on-the-west-side-neighborhoods-of-the-city-of-vancouver-a-case-study\" >data and research</a> into maps that document the growth of home prices in metro Vancouver. In the first map (below) there are virtually no properties east of Main Street listed for over $1 million.</p>\n<div id=\"attachment_153022\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153022\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png\" alt=\"(Andy Yan, 2014 / BTA Works)\" width=\"498\" height=\"421\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014-300x254.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png 498w\" sizes=\"(max-width: 498px) 100vw, 498px\" /><p class=\"wp-caption-text\">(Andy Yan, 2014 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The second map (below) shows 2015 home prices in metro Vancouver. Notice how many of the homes east of Main Street are now priced at $1 million or more. </span></p>\n<div id=\"attachment_153024\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153024\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png\" alt=\"(Andy Yan, 2015 / BTA Works)\" width=\"529\" height=\"408\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015-300x231.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png 529w\" sizes=\"(max-width: 529px) 100vw, 529px\" /><p class=\"wp-caption-text\">(Andy Yan, 2015 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The final map (below) shows 2016 housing prices. Notice how the number of houses selling for over $1 million has increased dramatically. Now, the sea of red spreads past metro Vancouver and into the inner suburbs. </span></p>\n<div id=\"attachment_153026\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153026\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png\" alt=\"(Andy Yan, 2016 / BTA Works) \" width=\"524\" height=\"407\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016-300x233.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png 524w\" sizes=\"(max-width: 524px) 100vw, 524px\" /><p class=\"wp-caption-text\">(Andy Yan, 2016 / BTA Works)</p></div>\n<p>“It’s not as if you can draw a clear partition. The property values in the west side influence the prices in the east side. Demand is just deflected, for example, from Kitsilano to Main Street and Commercial Drive,” says Ley. Now, the problem extends well beyond the city limits and into the suburbs.</p>\n<p>“Some investors are buying a few houses at the same time,” states one exasperated reader. “Some of the deals are even arranged remotely from overseas. This will eventually mean that more and more people will have no choice but to look for jobs in other provinces.”</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\">Canada&#8217;s best deals in real estate 2016 » </a></p>\n<h3><b>No. </b><b>2: Ineffective regulation</b></h3>\n<p><span style=\"font-weight: 400;\">But foreign buyers aren’t the only culprits in Vancouver’s messy real estate market. Fast money, unscrupulous people, and a general malaise when it comes to defining and enforcing bad conduct has taken its toll on the city. </span></p>\n<p><span style=\"font-weight: 400;\">A recent </span><a href=\"http://www.theglobeandmail.com/news/investigations/inside-a-fast-growing-bc-firm-that-has-home-sellers-crying-foul/article29578417/\" ><span style=\"font-weight: 400;\"><em>Globe and Mail</em> investigation</span></a><span style=\"font-weight: 400;\"> found that Vancouver real estate agents who were disciplined for wrongdoing faced fines and suspensions that were nothing short of a joke when compared to the hefty commissions earned on real estate transactions. The <em>Globe</em>’s report showed that of the more than 100 recent disciplinary proceedings, some confidential, the fines averaged out at $4,850. Compare this to the potential commission on a $1.78-million home—the average price paid in metro Vancouver in the first quarter of 2016—which works out to $22,500, and you can see why some agents simply consider these fines as the cost of doing business.</span></p>\n<p>What’s worse is the <em>Globe and Mail</em> investigation found that only a fraction of agents lost their licences over misconduct. Those who did receive a suspension were barred, on average, from practising for six weeks. In comparison, the Fraser Valley Real Estate Board—the private board in charge of lower mainland real estate, such as Langley and Abbotsford—is known for much stiffer penalties for realtors that breach ethics or regulations.</p>\n<p>“Some people have done some really bad things and they just get a slap on the wrist,” says Janet Mackenzie, a Vancouver regulatory affairs executive, who spoke to the <em>Globe</em>, late last year. “Having [agents] policing [agents] has shown to not be the best model.”</p>\n<p>Mackenzie actually found herself in the middle of the problem when her own real estate agent forged her signature during a condo deal a few years ago. Mackenzie lodged a complaint with the Real Estate Council of B.C. (RECBC), the self-regulating body for the province’s real estate industry. She had to wait two years before RECBC made a ruling—part of it was public and part was private. Publicly, Mackenzie was told her agent was fined $1,250 and given a four month suspension. Privately, RECBC also imposed a $10,000 fine and banned the agent from using the Multiple Listings Service for a year. But it wasn&#8217;t until the <em>Globe</em>&#8216;s investigation that Mackenzie even learned of this subsequent penalty.</p>\n<p>Then there was the recent case that involved New Coast Realty. The brokerage was home to 445 real estate agents and was run by 42-year-old Ze Yu Wu, a permanent resident who moved to Canada from China a year ago, and an unlicensed trainer who taught and encouraged his agents to low-ball and lie to potential sellers in order to earn bigger commissions re-selling the listed homes.</p>\n<blockquote><p><i><span style=\"font-weight: 400;\">In a transcript from the <a href=\"http://www.theglobeandmail.com/real-estate/vancouver/vancouver-real-estate-agents-face-weak-penalties-for-misconduct/article29549072/\" >Globe’s investigation</a>, Wu is heard saying:<br />\n</span></i><span style=\"font-weight: 400;\">“You must print out the lowest prices in the neighbourhood to show to the homeowner. It is very critical to print out low sale prices in the neighbourhood.”</span></p></blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the release of the Globe&#8217;s investigative report, RECBC swooped in to issue licence conditions on New Coast Realty that included the appointment of a new RECBC-approved broker manager, hiring a trainer that was a licensed realtor and complying with conditions imposed on the firm. Thing is, Wu got off relatively scot-free. As an unlicensed trainer (who doesn&#8217;t actually practice real estate sales) he is not bound to the regulations that are imposed on licensed real estate agents. At the heart of these regulations is the notion that a real estate agent must act in their clients’ interests or risk disciplinary action. </span></p>\n<p>Despite the transgressions, New Coast Realty is still operating. And Wu is still making money—and will, as long as realtors pay their office fees and earn a commission.</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-vancouver-top-neighbourhoods/\">Vancouver’s top neighbourhoods » </a></p>\n<h3><b>No. 3: Re-emergence of shadow flipping</b></h3>\n<p><span style=\"font-weight: 400;\">The big reason why Wu and others push for quick home sales is because they can then turn around and resell that property to another buyer—usually at a much higher price. The agent has now earned two commissions on one property, usually within weeks of the initial sale of the home. It’s a process known as <a href=\"http://www.moneysense.ca/spend/real-estate/recent-real-estate-fraud-sparks-calls-for-change/\" >shadow flipping</a>, although it’s legally known as an assignment sale. </span></p>\n<p>An assignment sale allows the current registered buyer of a property to sell their ownership in the property to another interested buyer, even before the first sale is finalized. The use of assignment sales is most common in the arena of new build condos. It’s not uncommon for Canadian new build condo units to change ownership two, three, even four times before the condo building and its units are actually ready for occupation.</p>\n<p><span style=\"font-weight: 400;\">Here’s the rub: In most provinces in Canada, the sales document does</span><span style=\"font-weight: 400;\"> not automatically give a buyer the option to resell their rights to the property. In most provinces, an extra clause or an entirely separate contract must be completed by both the buyer and the initial seller. This helps keep all transactions and intentions totally transparent.</span></p>\n<p><span style=\"font-weight: 400;\">But this isn’t the case if you&#8217;re doing a real estate deal in B.C.’s lower mainland. In Vancouver, an assignment is part of the assumed package of rights that any seller passes onto the buyer. No other notification is needed, or given, as one </span><a href=\"http://www.theglobeandmail.com/news/national/assignment-flipping-feeding-into-speculative-real-estate-market-in-bc/article28634868/\"><span style=\"font-weight: 400;\">West Vancouver couple</span></a><span style=\"font-weight: 400;\"> learned when their recently sold home was re-listed and resold for more than $1 million more than their final sale price. </span></p>\n<p>So much for transparency.</p>\n<p>In the wake of the negative media headlines, RECBC opted to assign an advisory group to come up with deterrents for a list of questionable practices. Under current B.C. law, RECBC or other real estate boards, can fine a real estate agent a maximum of $10,000. To put this in perspective, in Alberta and Ontario the maximum fine is $25,000 for similar misconduct.</p>\n<p><span style=\"font-weight: 400;\">Still, the council’s actions might be a little too late. B.C. Premier, Christy Clark, recently promised the potential of provincial regulations that would impose tougher penalties for those that try to skirt around current and future regulations. One reason why the province may have decided to act independently of the council is that this isn’t the first time B.C.’s lower mainland has faced shadow flipping problems. In the mid-2000s, during a condo boom, assignment sales were so common that some developers put in clauses to forbid them. The rationale was that hot, frothy markets fuelled by money and speculation would drive up the price and could, potentially, create an unsustainable bubble. Not only that, but as early as </span><span style=\"font-weight: 400;\"> <a href=\"http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/\" >May 2008</a>, the provincial office of the superintendent of real estate released a consumer alert that warned of the risks associated with the assignment of contracts.</span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<h3><b>No. 4: Everything is easier with technology</b></h3>\n<p><span style=\"font-weight: 400;\">Another contributing factor is the ease with which technology has shortened the distance on what used to be a localized economic decision. These days, foreign investors don&#8217;t even need to step foot into Canada to snap up some of the most exclusive real estate in B.C.’s lower mainland. Take, for example, the December 2015 sale of the </span><a href=\"http://www.vancouversun.com/business/Priciest+Metro+Vancouver+homes+draw+buyers+from+China/10875651/story.html\" ><span style=\"font-weight: 400;\">$51.8-million Point Grey mansion</span></a><span style=\"font-weight: 400;\"> (that takes up three building lots and overlooks the ocean). The buyer was Mailin Chen, a businessman from mainland China, and it’s reported that he never even left his home in China to purchase his new Vancouver mansion. (Nor did he buy the home himself. His Vancouver-based company, Chunghwa Investment (Canada) Co. Ltd, did—a company that was incorporated in March 2010 and has an office on Howe Street in downtown Vancouver.)</span></p>\n<p><span style=\"font-weight: 400;\">While Chen’s transaction was legal and transparent, there have been reports that some brokerages and websites aren&#8217;t following the same narrow guidelines when it comes to access to listings. In mid-April of this year, </span><em><a href=\"http://globalnews.ca/news/2637687/critics-say-new-shanghai-based-website-gives-foreign-buyers-first-dibs-on-vancouver-homes/\" ><span style=\"font-weight: 400;\">Global News</span></a></em><span style=\"font-weight: 400;\"> reported that a </span><a href=\"http://www.vanfun.com/\" ><span style=\"font-weight: 400;\">Chinese-language website</span></a><span style=\"font-weight: 400;\">, owned by a company in Shanghai, allegedly pulled information from the Canadian MLS system before the information was made public. As is standard practice throughout most provinces in Canada, all new sales listings are entered into MLS, but aren’t made available to the public for 24 to 72 hours (depending on where you are in Canada). But making this information available to only a segment of the open market has raised </span><span style=\"font-weight: 400;\">concerns that</span><span style=\"font-weight: 400;\"> foreign buyers, investing in Metro Vancouver’s hot real estate market, are getting an unfair jump on new listings. Five days later, RECBC issues a notice stating that they’re looking into the transgression not just on the Vanfun.com site, but also on other similar sites. </span></p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-top-25-vancouver-neighbourhoods-to-buy-in/\">Top 25 Vancouver neighbourhoods to buy in » </a></p>\n<h3><b>No. 5: Money laundering</b></h3>\n<p><span style=\"font-weight: 400;\">Then there are the growing problems of money laundering, </span><a href=\"http://www.theprovince.com/video+tackling+money+laundering+fraud+evasion+vancouver+real+estate/11821480/story.html\" ><span style=\"font-weight: 400;\">fraud and tax evasion</span></a><span style=\"font-weight: 400;\">. </span><span style=\"font-weight: 400;\">The </span><a href=\"https://www.facebook.com/MetroVancouverResidents2016/\" ><span style=\"font-weight: 400;\">Housing Action for Local Taxpayers</span></a><span style=\"font-weight: 400;\">, an advocacy group with an aim to hold politicians accountable for housing affordability, </span><a href=\"http://www.theglobeandmail.com/news/national/vancouver-housing-market-vulnerable-to-money-laundering/article29285770/\" ><span style=\"font-weight: 400;\">says that</span></a><span style=\"font-weight: 400;\"> “houses have become opaque cash banks where funds from offshore can find nice safe places to hide—and there’s no need to show a return on the investment as the primary objective is to hide the funds from overseas tax authorities.”</span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that over the past 12 months, dozens of B.C. real estate brokerages have been caught with “significant” or “very significant” deficiencies, explains </span><em><a href=\"http://www.theglobeandmail.com/try-it-now/?articleId=27640202\"><span style=\"font-weight: 400;\">The Globe and Mail</span></a></em><span style=\"font-weight: 400;\">. The discovery was made when the Financial Transactions and Reports Analysis Centre (FINTRAC), which enforces the federal anti-money-laundering laws, decided to step up scrutiny over worries that money, primarily from China, was being laundered through Vancouver real estate. “There were concerns being raised that those in the real estate sector were not fulfilling the obligations under the act,” said FinTRAC spokesperson Darren Gibb. He added that: “The real estate sector is highly vulnerable to money laundering.” As a result of their investigation, FinTRAC found that some real estate agents were neglecting to get proper ID from clients, such as drivers’ licences or passports; failed to verify sources of money; and some brokerage firms simply didn&#8217;t report suspicious or large cash transactions, an obligation under anti-money-laundering laws.</span></p>\n<p><span style=\"font-weight: 400;\">Dan Zitting, chief product officer for Vancouver “big data” analytics firm </span><a href=\"http://www.acl.com/\"><span style=\"font-weight: 400;\">ACL</span></a><span style=\"font-weight: 400;\">, is an expert on detecting patterns of crime in vast pools of data. In recent <em>Globe and Mail</em> and <em>Vancouver Sun</em> interviews, he explained his fears of widespread fraud in B.C.’s property market. “Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of FINTRAC’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”</span></p>\n<p>The Canadian Real Estate Association (CREA), which leads industry training on anti-money-laundering compliance, retorted recently stating that though there were issues, the real problem lay with FINTRAC. CREA called the federal agency’s training webinar “clearly insufficient.” CREA also points out that to help realtors and brokerages, they invested “heavily” in hiring two staff and commissioning outside firms to help bring real estate agents up to speed. “It would be nice if FINTRAC would invest similar time and effort,” said Randall McCauley, CREA’s vice-president of government and public relations. Mr. McCauley calls it “ridiculous” to expect individual real estate agents to have the same infrastructure as banks or casinos to track clients.</p>\n<p>McCauley also points out that the basic infrastructure of the regulations shows a complete “lack of understanding” of the industry. “A huge percentage of our members help individuals sell, then buy a home within days or weeks,” McCauley said. He wonders: Why the increased scrutiny of any buyer who completes two transactions within five years?</p>\n<h3><b>No. 6: The bar is too low</b></h3>\n<p><span style=\"font-weight: 400;\">Despite the problems, people keep pouring into the city and into the Vancouver real estate industry. There are now more than 12,400 agents in the Vancouver area—up 24% from five years ago. Some say that the growth in this profession, along with the increased errors and broken regulations, are due, in part, to the low bar of entry into the field of real estate. One Re/Max realtor stated, in a recent <em>Globe and Mail</em> article, that he wasn’t surprised by all the errors and omissions (and commissions). “It’s too easy to become a realtor in British Columbia, so the level of compliance is going to be a problem,” says Keith Roy, a real estate agent who also sits on the professional-conduct committee of the Real Estate Board of Greater Vancouver (REBGV), the member-based association that represents licensed real estate agents in the area. “The No. 1 way to increase public protection is to have more than a 10-week online course to get your licence.”</span></p>\n<h3><b>No. 7: Lack of unbiased info</b></h3>\n<p><span style=\"font-weight: 400;\">Vancouver&#8217;s growing housing dilemma has put the city on the top of unaffordable lists everywhere. Recently, Demographia ranked the West-coast city as the second most unaffordable city out of 325 around the world. The only city to beat Vancouver from claiming the top spot: Hong Kong. </span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that no one wants to <em>appear</em> to be killing the cash cow. Worse, is that reliable, unbiased information is hard to come by. In the last year, Ian Young, a reporter at the <em>South China Morning Post</em> <a href=\"http://www.theglobeandmail.com/real-estate/in-vancouver-race-undercuts-the-discussion-on-affordability/article19873510/\" >highlighted how</a> the Centre for Urban Economics and Real Estate, run by UBC business professor Tsur Somerville—the academic most often quoted in the media regarding Vancouver&#8217;s housing issues—</span><span style=\"font-weight: 400;\">receives part of its funding from developers. Turns out so do some of the city&#8217;s so-called urban think-tanks—the supposed thought-leaders on urban development. </span></p>\n<p><span style=\"font-weight: 400;\">Yet, those with no personal or professional stake in the discussion—such as <span style=\"font-weight: 400;\">Yan, <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >Elizabeth Murphy</a>, a private-sector project manager, David Wachsmuth, a former UBC urban geographer, now an urban planning assistant professor at McGill, SFU&#8217;s Andrey Pavlov and B.C’s meticulous urban geographer, </span><span style=\"font-weight: 400;\"><a href=\"http://blogs.vancouversun.com/2014/06/27/why-vancouver-housing-is-unaffordable-and-what-to-do-about-it/\" >David Ley (author of Millionaire Migrants)</a>—end up dominating headlines for the wrong reasons. When Ley released his findings last year on the impact of high immigration rates and foreign ownership have on real estate prices, </span></span>Somerville and others tossed out labels of &#8220;racist&#8221; and &#8220;xenophobic.&#8221;</p>\n<h3><b>No. 8: Vancouver wants to grow</b></h3>\n<p><span style=\"font-weight: 400;\">So, why this push for more homeowners and a greater proportion of international investment money? Because the City of Vancouver wants to grow. City personnel suggest that an increase to market residential zoning needs to expand in order to accommodate the million or more people that will settle in the city by 2041. Problem is, this estimated growth is for the entire lower mainland, with only a small fraction establishing a home in the City of Vancouver.</span></p>\n<p><a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" ><span style=\"font-weight: 400;\">Elizabeth Murphy</span></a><span style=\"font-weight: 400;\">, a private-sector project manager and former property development officer with the City of Vancouver’s Housing and Properties Department and for BC Housing, believes that the city’s rezoning and building plans are anything but transparent. She is convinced that the push for major builds, such as large condo towers, is motivated by those who will benefit financially. She sees the arguments that there is a lack of supply to be misleading and believes that the city is actually overbuilding by approximately 2,000 units every five years. The key, according to Murphy, is not more housing units, but better-suited housing units. She believes metro Vancouverites end up in a position of having to rent out units because the units built are expensive and only “serve to promote Vancouver as an investment commodity rather than a planned community.”</span></p>\n<p>Murphy is also concerned that this will have a long-lasting impact on current residents. “What <span style=\"font-weight: 400;\">most people don’t understand is that all this growth doesn’t make the city any money. On the contrary, the city has to subsidize all this growth. The development fees collected by the city only cover a small fraction, about 10%, of the actual costs of servicing the infrastructure for development and the population growth it brings. The massive development that has been completed over that last few decades has served to increase property taxes and the city’s debt,” <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >she writes</a>.</span></p>\n<p>While some growth in any city is inevitable, Murphy and other critics are trying to open up the discussion about how and what to build. “There are many options as to how growth is implemented. There are choices to be made. A concrete jungle of energy-hog glass towers with ugly and expensive monster houses is not inevitable. We can do better.”</p>\n<p><span style=\"font-weight: 400;\">Up next: How Vancouver&#8217;s unaffordable real estate market could seriously impact the future of this city. </span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Why Vancouver real estate prices are so crazy','<p>From foreign buyers, to unscrupulous agents, here are the factors that help push prices up </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10191-revision-v1','','','2016-04-22 08:04:09','2016-04-22 12:04:09','',10191,'http://feedwordpress.radgeek.com/?rev=92a6a725a0950573c46951c6785791d9',0,'revision','',0),(10251,1,'2011-11-14 05:14:29','2011-11-14 05:14:29','2009 Pontiac G8 review from www.motormouth.ca','2009 Pontiac G8 review','','publish','open','open','','2009-pontiac-g8-review','','','2011-11-14 05:14:29','2011-11-14 05:14:29','',0,'http://www.l2ocredit.com/2011/11/14/2009-pontiac-g8-review/',0,'post','',0),(10252,0,'2016-04-22 13:29:32','2016-04-22 17:29:32','','2009 Pontiac G8 review','','inherit','open','closed','','2009-pontiac-g8-review-2','','','2016-04-22 13:29:32','2016-04-22 17:29:32','',10251,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-pontiac-g8-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10253,0,'2016-04-22 13:29:33','2016-04-22 17:29:33','','2009 Pontiac G8 review','','inherit','open','closed','','2009-pontiac-g8-review-3','','','2016-04-22 13:29:33','2016-04-22 17:29:33','',10251,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-pontiac-g8-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10254,0,'2016-04-22 13:29:33','2016-04-22 17:29:33','','2009 Pontiac G8 review','','inherit','open','closed','','2009-pontiac-g8-review-4','','','2016-04-22 13:29:33','2016-04-22 17:29:33','',10251,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-pontiac-g8-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10255,0,'2016-04-22 13:29:34','2016-04-22 17:29:34','','2009 Pontiac G8 review','','inherit','open','closed','','2009-pontiac-g8-review-5','','','2016-04-22 13:29:34','2016-04-22 17:29:34','',10251,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-pontiac-g8-review-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10256,1,'2014-07-21 17:10:10','2014-07-21 17:10:10','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nCamerons Car Reviews Score: 5/5 \nPowertrain Options: 2.0 L Turbo 4-Cylinder with a 6-Speed Manual or Automatic FWD \nEngine &amp; Performance\nBASE ENGINE SIZE 2.0 L \nCAM TYPE Double overhead cam (DOHC)\nCYLINDERS Inline 4 \nVALVES 16\nVALVE TIMING Variable \nTORQUE 258 ft-lbs. @ 1500 rpm\nHORSEPOWER 210 hp @ 4500 rpm \nTURNING CIRCLE 35.8 ft.\nFuel\nENGINE TYPE Gas FUEL TYPE Premium unleaded (recommended)\nFUEL TANK CAPACITY 13.2 gal. \nRANGE IN MILES (CTY/HWY) 330.0/448.8 mi.\nEPA MILEAGE EST. (CTY/HWY) 25/34 mpg \nWarranty\nBASIC 3 yr./ 36000 mi. \nDRIVETRAIN 5 yr./ 60000 mi.\nFREE MAINTENANCE 1 yr./ 10000 mi. \nROADSIDE 3 yr./ 36000 mi. \nCompetitors: Subaru WRX, Mini Cooper S, Ford Focus ST','2015 Volkswagen Golf GTi Start Up and Review 2.0 L Turbo 4-Cylinder','','publish','open','open','','2015-volkswagen-golf-gti-start-up-and-review-2-0-l-turbo-4-cylinder','','','2014-07-21 17:10:10','2014-07-21 17:10:10','',0,'http://www.l2ocredit.com/2014/07/21/2015-volkswagen-golf-gti-start-up-and-review-2-0-l-turbo-4-cylinder/',0,'post','',0),(10257,0,'2016-04-22 13:48:57','2016-04-22 17:48:57','','2015 Volkswagen Golf GTi Start Up and Review 2.0 L Turbo 4-Cylinder','','inherit','open','closed','','2015-volkswagen-golf-gti-start-up-and-review-2-0-l-turbo-4-cylinder-2','','','2016-04-22 13:48:57','2016-04-22 17:48:57','',10256,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-volkswagen-golf-gti-start-up-and-review-2-0-l-turbo-4-cylinder-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10258,0,'2016-04-22 13:48:57','2016-04-22 17:48:57','','2015 Volkswagen Golf GTi Start Up and Review 2.0 L Turbo 4-Cylinder','','inherit','open','closed','','2015-volkswagen-golf-gti-start-up-and-review-2-0-l-turbo-4-cylinder-3','','','2016-04-22 13:48:57','2016-04-22 17:48:57','',10256,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-volkswagen-golf-gti-start-up-and-review-2-0-l-turbo-4-cylinder-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10259,0,'2016-04-22 13:48:57','2016-04-22 17:48:57','','2015 Volkswagen Golf GTi Start Up and Review 2.0 L Turbo 4-Cylinder','','inherit','open','closed','','2015-volkswagen-golf-gti-start-up-and-review-2-0-l-turbo-4-cylinder-3','','','2016-04-22 13:48:57','2016-04-22 17:48:57','',10256,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-volkswagen-golf-gti-start-up-and-review-2-0-l-turbo-4-cylinder-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10260,1,'2016-04-22 13:02:45','2016-04-22 17:02:45','<div id=\"attachment_153554\" style=\"width: 810px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-153554\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/Prince.jpg\" alt=\"(Lloyd Bishop/NBC/NBCU Photo Bank/Getty Images)\" width=\"800\" height=\"650\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/Prince-300x244.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/Prince-768x624.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/04/Prince-660x536.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/04/Prince.jpg 800w\" sizes=\"(max-width: 800px) 100vw, 800px\" /><p class=\"wp-caption-text\">(Lloyd Bishop/NBC/NBCU Photo Bank/Getty Images)</p></div>\n<p>Sadly, we all had to say goodbye to one of the 20th century&#8217;s greatest musical contributors yesterday, when singer-songwriter Prince died suddenly at his home in Minnesota at the age of 57.</p>\n<p>The Grammy and Oscar-winner, though, was so much more than a one-of-a-kind performer and instrumentalist. Behind the scenes, he privately donated money to charitable causes and was an advocate for black youth.</p>\n<p>A compelling example of Prince&#8217;s humanitarianism was told by the Rev. Al Sharpton on Thursday, when he described how the legendary artist contacted him to donate money to the family of Florida shooting victim Trayvon Martin.</p>\n<p>“I will never forget when he called me and said he had some funds he wanted to give to Trayvon Martin’s family,” <a href=\"http://www.nydailynews.com/entertainment/gossip/prince-privately-donated-money-family-trayvon-martin-article-1.2610374\" >Sharpton said</a> to the <em>New York Daily News</em>. “Just out of the blue. Just out of the clear blue.”</p>\n<p>“He didn’t want anybody to know,” Sharpton added. “He didn’t even want Trayvon Martin’s family to know where the funds came from.</p>\n<p>“He didn’t want to get involved in partisan politics. He was very concerned about human rights. We spent hours talking about his concerns about technology and getting those skills to inner city youth.”</p>\n<p>In the wake of his death, more stories of his quiet philanthropy are now being discussed publicly—for instance, his secret donation to help keep a historic public library in Louisville, Kentucky, from <a href=\"https://insiderlouisville.com/lifestyle_culture/music/prince-may-have-helped-save-louisville-library-from-closure/\">shutting down</a>. No doubt, more will emerge.</p>\n<p>So the next time you load up Prince on your iTunes, don&#8217;t forget to also reflect on his legacy of charitable giving and think about how you can make the world around you a better place, too.</p>\n<p><strong>Read more about Prince on <em>Maclean&#8217;s</em>:</strong></p>\n<p><a href=\"http://www.macleans.ca/culture/arts/the-joy-in-repetition-princes-floods-of-genius/\">Paul Wells on Prince: A talent for genius » </a></p>\n<p><a href=\"http://www.macleans.ca/culture/arts/how-prince-rock-musics-effortlessly-dangerous-superstar-changed-the-game/\">How Prince, rock’s effortlessly dangerous star, changed the game » </a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/princes-legacy-defined-by-music-and-humanitarianism/\">Prince: icon, innovator, humanitarian</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Prince: icon, innovator, humanitarian','<p>The musician\'s greatness was equally defined by his charitable giving</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/princes-legacy-defined-by-music-and-humanitarianism/\">Prince: icon, innovator, humanitarian</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','pending','closed','closed','','','','','2016-04-22 13:02:45','2016-04-22 17:02:45','',0,'http://www.moneysense.ca/?p=153534',0,'post','',0),(10261,1,'2016-04-22 13:02:45','2016-04-22 17:02:45','<div id=\"attachment_153554\" style=\"width: 810px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-153554\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/Prince.jpg\" alt=\"(Lloyd Bishop/NBC/NBCU Photo Bank/Getty Images)\" width=\"800\" height=\"650\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/Prince-300x244.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/Prince-768x624.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/04/Prince-660x536.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/04/Prince.jpg 800w\" sizes=\"(max-width: 800px) 100vw, 800px\" /><p class=\"wp-caption-text\">(Lloyd Bishop/NBC/NBCU Photo Bank/Getty Images)</p></div>\n<p>Sadly, we all had to say goodbye to one of the 20th century&#8217;s greatest musical contributors yesterday, when singer-songwriter Prince died suddenly at his home in Minnesota at the age of 57.</p>\n<p>The Grammy and Oscar-winner, though, was so much more than a one-of-a-kind performer and instrumentalist. Behind the scenes, he privately donated money to charitable causes and was an advocate for black youth.</p>\n<p>A compelling example of Prince&#8217;s humanitarianism was told by the Rev. Al Sharpton on Thursday, when he described how the legendary artist contacted him to donate money to the family of Florida shooting victim Trayvon Martin.</p>\n<p>“I will never forget when he called me and said he had some funds he wanted to give to Trayvon Martin’s family,” <a href=\"http://www.nydailynews.com/entertainment/gossip/prince-privately-donated-money-family-trayvon-martin-article-1.2610374\" >Sharpton said</a> to the <em>New York Daily News</em>. “Just out of the blue. Just out of the clear blue.”</p>\n<p>“He didn’t want anybody to know,” Sharpton added. “He didn’t even want Trayvon Martin’s family to know where the funds came from.</p>\n<p>“He didn’t want to get involved in partisan politics. He was very concerned about human rights. We spent hours talking about his concerns about technology and getting those skills to inner city youth.”</p>\n<p>In the wake of his death, more stories of his quiet philanthropy are now being discussed publicly—for instance, his secret donation to help keep a historic public library in Louisville, Kentucky, from <a href=\"https://insiderlouisville.com/lifestyle_culture/music/prince-may-have-helped-save-louisville-library-from-closure/\">shutting down</a>. No doubt, more will emerge.</p>\n<p>So the next time you load up Prince on your iTunes, don&#8217;t forget to also reflect on his legacy of charitable giving and think about how you can make the world around you a better place, too.</p>\n<p><strong>Read more about Prince on <em>Maclean&#8217;s</em>:</strong></p>\n<p><a href=\"http://www.macleans.ca/culture/arts/the-joy-in-repetition-princes-floods-of-genius/\">Paul Wells on Prince: A talent for genius » </a></p>\n<p><a href=\"http://www.macleans.ca/culture/arts/how-prince-rock-musics-effortlessly-dangerous-superstar-changed-the-game/\">How Prince, rock’s effortlessly dangerous star, changed the game » </a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/princes-legacy-defined-by-music-and-humanitarianism/\">Prince: icon, innovator, humanitarian</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Prince: icon, innovator, humanitarian','<p>The musician\'s greatness was equally defined by his charitable giving</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/princes-legacy-defined-by-music-and-humanitarianism/\">Prince: icon, innovator, humanitarian</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10260-revision-v1','','','2016-04-22 13:02:45','2016-04-22 17:02:45','',10260,'http://feedwordpress.radgeek.com/?rev=6498ea6e807b9caaf57cbed197004fa8',0,'revision','',0),(10262,1,'2016-04-22 08:04:09','2016-04-22 12:04:09','<div id=\"attachment_120794\" style=\"width: 1034px\" class=\"wp-caption aligncenter\"><img class=\"size-large wp-image-120794\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg\" alt=\"(Barrett &amp; MacKay/Getty Images)\" width=\"1024\" height=\"690\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-300x202.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-1024x690.jpg 1024w, http://www.moneysense.ca/wp-content/uploads/2015/05/GettyImages-126162339-660x444.jpg 660w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" /><p class=\"wp-caption-text\">(Barrett &amp; MacKay/Getty Images)</p></div>\n<p><b></b><span style=\"font-weight: 400;\">Vancouver&#8217;s real estate market is messed up. It&#8217;s really messed up. As a result it&#8217;s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada&#8217;s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland. </span></p>\n<h3><b>No. 1: Foreign buyers</b></h3>\n<p><span style=\"font-weight: 400;\">It’s not very Canadian to discuss the impact of immigration, particularly if it’s negative. But the truth is the Vancouver real estate market <em>has</em> felt the impact of foreign money—in particular, money from rich foreigners. Much of this money comes from mainland China. Also not a very Canadian thing to say. But it’s true. How do we know? Because the phenomenon has been tracked, studied and recorded—and not just in Vancouver. </span></p>\n<p>Data collected by David Ley shows how, over the last few decades, metro Vancouver has become similar to other Pacific Rim “gateway” cities, such as Hong Kong, Singapore, London and Sydney. Each of these gateway cities have rising housing costs that are fuelled by high immigration-driven population growth and foreign investors.</p>\n<p>“In every one of these cities the market is being driven by something other than owner-occupiers. Not just new immigrants, but investors, including offshore investment,” explains Ley. Through his analysis, Ley discovered that in the last 25 years, there’s been an almost 1-to-1 correlation between Vancouver’s rising real estate prices and the surge in international immigration and offshore investors to this West-coast city.</p>\n<p>Ley isn&#8217;t the only one tracking this trend. University of Waterloo geographer Markus Moos and Queen’s University planner Andrejs Skaburskis back up Ley’s findings. Both Moos and Skaburskis concede that Vancouver is an “exceptional” example of how “globalization” can affect a local housing market.</p>\n<p>The biggest contributor to these rising housing prices is that these immigrants not only arrive with great wealth, but continue to earn high incomes outside of Canada. This accumulation and access to money and its investment in Vancouver property led to a “decoupling of housing from local labour market participation,” wrote Moos and Skaburskis.</p>\n<p>Even data released by the city of Vancouver backs up the assertions by these scholars. According to district data virtually nine out of 10 newcomers in the past 20 years were born outside the country—mostly in Asia. City data also shows that many of these new property owners are “circulatory migrants”—foreigners who invest in property in Canada while working offshore.</p>\n<p>Some detractors of this data argue that rich foreigners only invest in luxury properties—purchases that don&#8217;t impact neighbourhoods (and prices) where regular, middle-class Vancouverites choose to buy homes. But that’s just not true.</p>\n<p>Ley describes the impact as a “trickle-down effect,” which occurs when rich immigrants and investors push up housing prices across the entire lower mainland real estate market. It’s a phenomenon that Andy Yan, an urban planning researcher and adjunct professor at University of British Columbia (UBC), has been documenting for years. He turned his <a href=\"http://www.slideshare.net/ayan604/ownership-patterns-of-single-family-homes-sales-on-the-west-side-neighborhoods-of-the-city-of-vancouver-a-case-study\" >data and research</a> into maps that document the growth of home prices in metro Vancouver. In the first map (below) there are virtually no properties east of Main Street listed for over $1 million.</p>\n<div id=\"attachment_153022\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153022\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png\" alt=\"(Andy Yan, 2014 / BTA Works)\" width=\"498\" height=\"421\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014-300x254.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png 498w\" sizes=\"(max-width: 498px) 100vw, 498px\" /><p class=\"wp-caption-text\">(Andy Yan, 2014 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The second map (below) shows 2015 home prices in metro Vancouver. Notice how many of the homes east of Main Street are now priced at $1 million or more. </span></p>\n<div id=\"attachment_153024\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153024\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png\" alt=\"(Andy Yan, 2015 / BTA Works)\" width=\"529\" height=\"408\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015-300x231.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png 529w\" sizes=\"(max-width: 529px) 100vw, 529px\" /><p class=\"wp-caption-text\">(Andy Yan, 2015 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The final map (below) shows 2016 housing prices. Notice how the number of houses selling for over $1 million has increased dramatically. Now, the sea of red spreads past metro Vancouver and into the inner suburbs. </span></p>\n<div id=\"attachment_153026\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153026\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png\" alt=\"(Andy Yan, 2016 / BTA Works) \" width=\"524\" height=\"407\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016-300x233.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png 524w\" sizes=\"(max-width: 524px) 100vw, 524px\" /><p class=\"wp-caption-text\">(Andy Yan, 2016 / BTA Works)</p></div>\n<p>“It’s not as if you can draw a clear partition. The property values in the west side influence the prices in the east side. Demand is just deflected, for example, from Kitsilano to Main Street and Commercial Drive,” says Ley. Now, the problem extends well beyond the city limits and into the suburbs.</p>\n<p>“Some investors are buying a few houses at the same time,” states one exasperated reader. “Some of the deals are even arranged remotely from overseas. This will eventually mean that more and more people will have no choice but to look for jobs in other provinces.”</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\">Canada&#8217;s best deals in real estate 2016 » </a></p>\n<h3><b>No. </b><b>2: Ineffective regulation</b></h3>\n<p><span style=\"font-weight: 400;\">But foreign buyers aren’t the only culprits in Vancouver’s messy real estate market. Fast money, unscrupulous people, and a general malaise when it comes to defining and enforcing bad conduct has taken its toll on the city. </span></p>\n<p><span style=\"font-weight: 400;\">A recent </span><a href=\"http://www.theglobeandmail.com/news/investigations/inside-a-fast-growing-bc-firm-that-has-home-sellers-crying-foul/article29578417/\" ><span style=\"font-weight: 400;\"><em>Globe and Mail</em> investigation</span></a><span style=\"font-weight: 400;\"> found that Vancouver real estate agents who were disciplined for wrongdoing faced fines and suspensions that were nothing short of a joke when compared to the hefty commissions earned on real estate transactions. The <em>Globe</em>’s report showed that of the more than 100 recent disciplinary proceedings, some confidential, the fines averaged out at $4,850. Compare this to the potential commission on a $1.78-million home—the average price paid in metro Vancouver in the first quarter of 2016—which works out to $22,500, and you can see why some agents simply consider these fines as the cost of doing business.</span></p>\n<p>What’s worse is the <em>Globe and Mail</em> investigation found that only a fraction of agents lost their licences over misconduct. Those who did receive a suspension were barred, on average, from practising for six weeks. In comparison, the Fraser Valley Real Estate Board—the private board in charge of lower mainland real estate, such as Langley and Abbotsford—is known for much stiffer penalties for realtors that breach ethics or regulations.</p>\n<p>“Some people have done some really bad things and they just get a slap on the wrist,” says Janet Mackenzie, a Vancouver regulatory affairs executive, who spoke to the <em>Globe</em>, late last year. “Having [agents] policing [agents] has shown to not be the best model.”</p>\n<p>Mackenzie actually found herself in the middle of the problem when her own real estate agent forged her signature during a condo deal a few years ago. Mackenzie lodged a complaint with the Real Estate Council of B.C. (RECBC), the self-regulating body for the province’s real estate industry. She had to wait two years before RECBC made a ruling—part of it was public and part was private. Publicly, Mackenzie was told her agent was fined $1,250 and given a four month suspension. Privately, RECBC also imposed a $10,000 fine and banned the agent from using the Multiple Listings Service for a year. But it wasn&#8217;t until the <em>Globe</em>&#8216;s investigation that Mackenzie even learned of this subsequent penalty.</p>\n<p>Then there was the recent case that involved New Coast Realty. The brokerage was home to 445 real estate agents and was run by 42-year-old Ze Yu Wu, a permanent resident who moved to Canada from China a year ago, and an unlicensed trainer who taught and encouraged his agents to low-ball and lie to potential sellers in order to earn bigger commissions re-selling the listed homes.</p>\n<blockquote><p><i><span style=\"font-weight: 400;\">In a transcript from the <a href=\"http://www.theglobeandmail.com/real-estate/vancouver/vancouver-real-estate-agents-face-weak-penalties-for-misconduct/article29549072/\" >Globe’s investigation</a>, Wu is heard saying:<br />\n</span></i><span style=\"font-weight: 400;\">“You must print out the lowest prices in the neighbourhood to show to the homeowner. It is very critical to print out low sale prices in the neighbourhood.”</span></p></blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the release of the Globe&#8217;s investigative report, RECBC swooped in to issue licence conditions on New Coast Realty that included the appointment of a new RECBC-approved broker manager, hiring a trainer that was a licensed realtor and complying with conditions imposed on the firm. Thing is, Wu got off relatively scot-free. As an unlicensed trainer (who doesn&#8217;t actually practice real estate sales) he is not bound to the regulations that are imposed on licensed real estate agents. At the heart of these regulations is the notion that a real estate agent must act in their clients’ interests or risk disciplinary action. </span></p>\n<p>Despite the transgressions, New Coast Realty is still operating. And Wu is still making money—and will, as long as realtors pay their office fees and earn a commission.</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-vancouver-top-neighbourhoods/\">Vancouver’s top neighbourhoods » </a></p>\n<h3><b>No. 3: Re-emergence of shadow flipping</b></h3>\n<p><span style=\"font-weight: 400;\">The big reason why Wu and others push for quick home sales is because they can then turn around and resell that property to another buyer—usually at a much higher price. The agent has now earned two commissions on one property, usually within weeks of the initial sale of the home. It’s a process known as <a href=\"http://www.moneysense.ca/spend/real-estate/recent-real-estate-fraud-sparks-calls-for-change/\" >shadow flipping</a>, although it’s legally known as an assignment sale. </span></p>\n<p>An assignment sale allows the current registered buyer of a property to sell their ownership in the property to another interested buyer, even before the first sale is finalized. The use of assignment sales is most common in the arena of new build condos. It’s not uncommon for Canadian new build condo units to change ownership two, three, even four times before the condo building and its units are actually ready for occupation.</p>\n<p><span style=\"font-weight: 400;\">Here’s the rub: In most provinces in Canada, the sales document does</span><span style=\"font-weight: 400;\"> not automatically give a buyer the option to resell their rights to the property. In most provinces, an extra clause or an entirely separate contract must be completed by both the buyer and the initial seller. This helps keep all transactions and intentions totally transparent.</span></p>\n<p><span style=\"font-weight: 400;\">But this isn’t the case if you&#8217;re doing a real estate deal in B.C.’s lower mainland. In Vancouver, an assignment is part of the assumed package of rights that any seller passes onto the buyer. No other notification is needed, or given, as one </span><a href=\"http://www.theglobeandmail.com/news/national/assignment-flipping-feeding-into-speculative-real-estate-market-in-bc/article28634868/\"><span style=\"font-weight: 400;\">West Vancouver couple</span></a><span style=\"font-weight: 400;\"> learned when their recently sold home was re-listed and resold for more than $1 million more than their final sale price. </span></p>\n<p>So much for transparency.</p>\n<p>In the wake of the negative media headlines, RECBC opted to assign an advisory group to come up with deterrents for a list of questionable practices. Under current B.C. law, RECBC or other real estate boards, can fine a real estate agent a maximum of $10,000. To put this in perspective, in Alberta and Ontario the maximum fine is $25,000 for similar misconduct.</p>\n<p><span style=\"font-weight: 400;\">Still, the council’s actions might be a little too late. B.C. Premier, Christy Clark, recently promised the potential of provincial regulations that would impose tougher penalties for those that try to skirt around current and future regulations. One reason why the province may have decided to act independently of the council is that this isn’t the first time B.C.’s lower mainland has faced shadow flipping problems. In the mid-2000s, during a condo boom, assignment sales were so common that some developers put in clauses to forbid them. The rationale was that hot, frothy markets fuelled by money and speculation would drive up the price and could, potentially, create an unsustainable bubble. Not only that, but as early as </span><span style=\"font-weight: 400;\"> <a href=\"http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/\" >May 2008</a>, the provincial office of the superintendent of real estate released a consumer alert that warned of the risks associated with the assignment of contracts.</span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<h3><b>No. 4: Everything is easier with technology</b></h3>\n<p><span style=\"font-weight: 400;\">Another contributing factor is the ease with which technology has shortened the distance on what used to be a localized economic decision. These days, foreign investors don&#8217;t even need to step foot into Canada to snap up some of the most exclusive real estate in B.C.’s lower mainland. Take, for example, the December 2015 sale of the </span><a href=\"http://www.vancouversun.com/business/Priciest+Metro+Vancouver+homes+draw+buyers+from+China/10875651/story.html\" ><span style=\"font-weight: 400;\">$51.8-million Point Grey mansion</span></a><span style=\"font-weight: 400;\"> (that takes up three building lots and overlooks the ocean). The buyer was Mailin Chen, a businessman from mainland China, and it’s reported that he never even left his home in China to purchase his new Vancouver mansion. (Nor did he buy the home himself. His Vancouver-based company, Chunghwa Investment (Canada) Co. Ltd, did—a company that was incorporated in March 2010 and has an office on Howe Street in downtown Vancouver.)</span></p>\n<p><span style=\"font-weight: 400;\">While Chen’s transaction was legal and transparent, there have been reports that some brokerages and websites aren&#8217;t following the same narrow guidelines when it comes to access to listings. In mid-April of this year, </span><em><a href=\"http://globalnews.ca/news/2637687/critics-say-new-shanghai-based-website-gives-foreign-buyers-first-dibs-on-vancouver-homes/\" ><span style=\"font-weight: 400;\">Global News</span></a></em><span style=\"font-weight: 400;\"> reported that a </span><a href=\"http://www.vanfun.com/\" ><span style=\"font-weight: 400;\">Chinese-language website</span></a><span style=\"font-weight: 400;\">, owned by a company in Shanghai, allegedly pulled information from the Canadian MLS system before the information was made public. As is standard practice throughout most provinces in Canada, all new sales listings are entered into MLS, but aren’t made available to the public for 24 to 72 hours (depending on where you are in Canada). But making this information available to only a segment of the open market has raised </span><span style=\"font-weight: 400;\">concerns that</span><span style=\"font-weight: 400;\"> foreign buyers, investing in Metro Vancouver’s hot real estate market, are getting an unfair jump on new listings. Five days later, RECBC issues a notice stating that they’re looking into the transgression not just on the Vanfun.com site, but also on other similar sites. </span></p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-top-25-vancouver-neighbourhoods-to-buy-in/\">Top 25 Vancouver neighbourhoods to buy in » </a></p>\n<h3><b>No. 5: Money laundering</b></h3>\n<p><span style=\"font-weight: 400;\">Then there are the growing problems of money laundering, </span><a href=\"http://www.theprovince.com/video+tackling+money+laundering+fraud+evasion+vancouver+real+estate/11821480/story.html\" ><span style=\"font-weight: 400;\">fraud and tax evasion</span></a><span style=\"font-weight: 400;\">. </span><span style=\"font-weight: 400;\">The </span><a href=\"https://www.facebook.com/MetroVancouverResidents2016/\" ><span style=\"font-weight: 400;\">Housing Action for Local Taxpayers</span></a><span style=\"font-weight: 400;\">, an advocacy group with an aim to hold politicians accountable for housing affordability, </span><a href=\"http://www.theglobeandmail.com/news/national/vancouver-housing-market-vulnerable-to-money-laundering/article29285770/\" ><span style=\"font-weight: 400;\">says that</span></a><span style=\"font-weight: 400;\"> “houses have become opaque cash banks where funds from offshore can find nice safe places to hide—and there’s no need to show a return on the investment as the primary objective is to hide the funds from overseas tax authorities.”</span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that over the past 12 months, dozens of B.C. real estate brokerages have been caught with “significant” or “very significant” deficiencies, explains </span><em><a href=\"http://www.theglobeandmail.com/try-it-now/?articleId=27640202\"><span style=\"font-weight: 400;\">The Globe and Mail</span></a></em><span style=\"font-weight: 400;\">. The discovery was made when the Financial Transactions and Reports Analysis Centre (FINTRAC), which enforces the federal anti-money-laundering laws, decided to step up scrutiny over worries that money, primarily from China, was being laundered through Vancouver real estate. “There were concerns being raised that those in the real estate sector were not fulfilling the obligations under the act,” said FinTRAC spokesperson Darren Gibb. He added that: “The real estate sector is highly vulnerable to money laundering.” As a result of their investigation, FinTRAC found that some real estate agents were neglecting to get proper ID from clients, such as drivers’ licences or passports; failed to verify sources of money; and some brokerage firms simply didn&#8217;t report suspicious or large cash transactions, an obligation under anti-money-laundering laws.</span></p>\n<p><span style=\"font-weight: 400;\">Dan Zitting, chief product officer for Vancouver “big data” analytics firm </span><a href=\"http://www.acl.com/\"><span style=\"font-weight: 400;\">ACL</span></a><span style=\"font-weight: 400;\">, is an expert on detecting patterns of crime in vast pools of data. In recent <em>Globe and Mail</em> and <em>Vancouver Sun</em> interviews, he explained his fears of widespread fraud in B.C.’s property market. “Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of FINTRAC’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”</span></p>\n<p>The Canadian Real Estate Association (CREA), which leads industry training on anti-money-laundering compliance, retorted recently stating that though there were issues, the real problem lay with FINTRAC. CREA called the federal agency’s training webinar “clearly insufficient.” CREA also points out that to help realtors and brokerages, they invested “heavily” in hiring two staff and commissioning outside firms to help bring real estate agents up to speed. “It would be nice if FINTRAC would invest similar time and effort,” said Randall McCauley, CREA’s vice-president of government and public relations. Mr. McCauley calls it “ridiculous” to expect individual real estate agents to have the same infrastructure as banks or casinos to track clients.</p>\n<p>McCauley also points out that the basic infrastructure of the regulations shows a complete “lack of understanding” of the industry. “A huge percentage of our members help individuals sell, then buy a home within days or weeks,” McCauley said. He wonders: Why the increased scrutiny of any buyer who completes two transactions within five years?</p>\n<h3><b>No. 6: The bar is too low</b></h3>\n<p><span style=\"font-weight: 400;\">Despite the problems, people keep pouring into the city and into the Vancouver real estate industry. There are now more than 12,400 agents in the Vancouver area—up 24% from five years ago. Some say that the growth in this profession, along with the increased errors and broken regulations, are due, in part, to the low bar of entry into the field of real estate. One Re/Max realtor stated, in a recent <em>Globe and Mail</em> article, that he wasn’t surprised by all the errors and omissions (and commissions). “It’s too easy to become a realtor in British Columbia, so the level of compliance is going to be a problem,” says Keith Roy, a real estate agent who also sits on the professional-conduct committee of the Real Estate Board of Greater Vancouver (REBGV), the member-based association that represents licensed real estate agents in the area. “The No. 1 way to increase public protection is to have more than a 10-week online course to get your licence.”</span></p>\n<h3><b>No. 7: Lack of unbiased info</b></h3>\n<p><span style=\"font-weight: 400;\">Vancouver&#8217;s growing housing dilemma has put the city on the top of unaffordable lists everywhere. Recently, Demographia ranked the West-coast city as the second most unaffordable city out of 325 around the world. The only city to beat Vancouver from claiming the top spot: Hong Kong. </span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that no one wants to <em>appear</em> to be killing the cash cow. Worse, is that reliable, unbiased information is hard to come by. In the last year, Ian Young, a reporter at the <em>South China Morning Post</em> <a href=\"http://www.theglobeandmail.com/real-estate/in-vancouver-race-undercuts-the-discussion-on-affordability/article19873510/\" >highlighted how</a> the Centre for Urban Economics and Real Estate, run by UBC business professor Tsur Somerville—the academic most often quoted in the media regarding Vancouver&#8217;s housing issues—</span><span style=\"font-weight: 400;\">receives part of its funding from developers. Turns out so do some of the city&#8217;s so-called urban think-tanks—the supposed thought-leaders on urban development. </span></p>\n<p><span style=\"font-weight: 400;\">Yet, those with no personal or professional stake in the discussion—such as <span style=\"font-weight: 400;\">Yan, <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >Elizabeth Murphy</a>, a private-sector project manager, David Wachsmuth, a former UBC urban geographer, now an urban planning assistant professor at McGill, SFU&#8217;s Andrey Pavlov and B.C’s meticulous urban geographer, </span><span style=\"font-weight: 400;\"><a href=\"http://blogs.vancouversun.com/2014/06/27/why-vancouver-housing-is-unaffordable-and-what-to-do-about-it/\" >David Ley (author of Millionaire Migrants)</a>—end up dominating headlines for the wrong reasons. When Ley released his findings last year on the impact of high immigration rates and foreign ownership have on real estate prices, </span></span>Somerville and others tossed out labels of &#8220;racist&#8221; and &#8220;xenophobic.&#8221;</p>\n<h3><b>No. 8: Vancouver wants to grow</b></h3>\n<p><span style=\"font-weight: 400;\">So, why this push for more homeowners and a greater proportion of international investment money? Because the City of Vancouver wants to grow. City personnel suggest that an increase to market residential zoning needs to expand in order to accommodate the million or more people that will settle in the city by 2041. Problem is, this estimated growth is for the entire lower mainland, with only a small fraction establishing a home in the City of Vancouver.</span></p>\n<p><a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" ><span style=\"font-weight: 400;\">Elizabeth Murphy</span></a><span style=\"font-weight: 400;\">, a private-sector project manager and former property development officer with the City of Vancouver’s Housing and Properties Department and for BC Housing, believes that the city’s rezoning and building plans are anything but transparent. She is convinced that the push for major builds, such as large condo towers, is motivated by those who will benefit financially. She sees the arguments that there is a lack of supply to be misleading and believes that the city is actually overbuilding by approximately 2,000 units every five years. The key, according to Murphy, is not more housing units, but better-suited housing units. She believes metro Vancouverites end up in a position of having to rent out units because the units built are expensive and only “serve to promote Vancouver as an investment commodity rather than a planned community.”</span></p>\n<p>Murphy is also concerned that this will have a long-lasting impact on current residents. “What <span style=\"font-weight: 400;\">most people don’t understand is that all this growth doesn’t make the city any money. On the contrary, the city has to subsidize all this growth. The development fees collected by the city only cover a small fraction, about 10%, of the actual costs of servicing the infrastructure for development and the population growth it brings. The massive development that has been completed over that last few decades has served to increase property taxes and the city’s debt,” <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >she writes</a>.</span></p>\n<p>While some growth in any city is inevitable, Murphy and other critics are trying to open up the discussion about how and what to build. “There are many options as to how growth is implemented. There are choices to be made. A concrete jungle of energy-hog glass towers with ugly and expensive monster houses is not inevitable. We can do better.”</p>\n<p><span style=\"font-weight: 400;\">Up next: How Vancouver&#8217;s unaffordable real estate market could seriously impact the future of this city.</span></p>\n<h4><span style=\"font-weight: 400;\">Watch: Why Vancouver is still the top city to buy real estate in </span></h4>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT8M26S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4802316069001_WTB-Top-Cities---Brightcove.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Best Deals in Real Estate 2016: Top rental income cities\" />\n        <meta itemprop=\"description\" content=\"MoneySense editors Mark Browna and Romana King talk the top cities in Canada to buy real estate in.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-14T20:03:12+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4800734585001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4800734585001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Why Vancouver real estate prices are so crazy','<p>From foreign buyers, to unscrupulous agents, here are the factors that help push prices up </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10191-revision-v1','','','2016-04-22 08:04:09','2016-04-22 12:04:09','',10191,'http://feedwordpress.radgeek.com/?rev=fa8f2abea4489cc022f1f0e086b73716',0,'revision','',0),(10263,1,'2014-07-21 10:30:01','2014-07-21 10:30:01','KBB\'s brief overview of the 2015 Golf GTI. Click here for the full video: https://www.youtube.com/watch?v=3MP6TumsdTk\n\nFor the latest VW Golf pricing and information:\nhttp://kbb.com/volkswagen/golf/2015-volkswagen-golf/s-expert_car_reviews/?vehicleid=399931\n\nKelley Blue Book is your source for new car reviews, features, auto show coverage, and infotainment reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb\n\nTo follow Micah Muzio on Twitter, please visit: http://www.twitter.com/micahmuzio','2015 VW Golf GTI - KBB Quick Take','','publish','open','open','','2015-vw-golf-gti-kbb-quick-take','','','2014-07-21 10:30:01','2014-07-21 10:30:01','',0,'http://www.l2ocredit.com/2014/07/21/2015-vw-golf-gti-kbb-quick-take/',0,'post','',0),(10264,0,'2016-04-22 14:24:27','2016-04-22 18:24:27','','2015 VW Golf GTI &#8211; KBB Quick Take','','inherit','open','closed','','2015-vw-golf-gti-kbb-quick-take-2','','','2016-04-22 14:24:27','2016-04-22 18:24:27','',10263,'http://www.l2ocredit.com/2014/07/21/2015-vw-golf-gti-kbb-quick-take/2015-vw-golf-gti-kbb-quick-take-2/',0,'attachment','image/jpeg',0),(10265,1,'2015-03-06 17:16:09','2015-03-06 17:16:09','Subscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. Help shop for your new car with informative car buying tips and car recall news, and be entertained with feature stories, Top 10s and car review videos.','Hyundai Tucson Hybrid Concepts - 2015 Geneva Motor Show','','publish','open','open','','hyundai-tucson-hybrid-concepts-2015-geneva-motor-show','','','2015-03-06 17:16:09','2015-03-06 17:16:09','',0,'http://www.l2ocredit.com/2015/03/06/hyundai-tucson-hybrid-concepts-2015-geneva-motor-show/',0,'post','',0),(10266,0,'2016-04-22 14:39:51','2016-04-22 18:39:51','','Hyundai Tucson Hybrid Concepts &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','hyundai-tucson-hybrid-concepts-2015-geneva-motor-show-2','','','2016-04-22 14:39:51','2016-04-22 18:39:51','',10265,'http://www.l2ocredit.com/wp-content/uploads/2016/04/hyundai-tucson-hybrid-concepts-2015-geneva-motor-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10267,0,'2016-04-22 14:39:51','2016-04-22 18:39:51','','Hyundai Tucson Hybrid Concepts &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','hyundai-tucson-hybrid-concepts-2015-geneva-motor-show-3','','','2016-04-22 14:39:51','2016-04-22 18:39:51','',10265,'http://www.l2ocredit.com/wp-content/uploads/2016/04/hyundai-tucson-hybrid-concepts-2015-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10268,1,'2013-06-04 19:17:47','2013-06-04 19:17:47','Nissan LEAF US Battery Factory -- How an Electric Car Battery is Made. MotoMan goes inside Nissan\'s new, dedicated electric car battery factory in Smyrna, Tennessee and demonstrates step by step how an EV battery is made prior to installation in the 2013 Nissan LEAF.\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\nhttp://www.youtube.com/motomantv\n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nWebsite - http://www.MotoMan.TV','Nissan LEAF US Battery Factory -- How an Electric Car Battery is Made','','publish','open','open','','nissan-leaf-us-battery-factory-how-an-electric-car-battery-is-made','','','2013-06-04 19:17:47','2013-06-04 19:17:47','',0,'http://www.l2ocredit.com/2013/06/04/nissan-leaf-us-battery-factory-how-an-electric-car-battery-is-made/',0,'post','',0),(10269,0,'2016-04-22 14:55:29','2016-04-22 18:55:29','','Nissan LEAF US Battery Factory &#8212; How an Electric Car Battery is Made','','inherit','open','closed','','nissan-leaf-us-battery-factory-how-an-electric-car-battery-is-made-2','','','2016-04-22 14:55:29','2016-04-22 18:55:29','',10268,'http://www.l2ocredit.com/wp-content/uploads/2016/04/nissan-leaf-us-battery-factory-how-an-electric-car-battery-is-made-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10270,0,'2016-04-22 14:55:30','2016-04-22 18:55:30','','Nissan LEAF US Battery Factory &#8212; How an Electric Car Battery is Made','','inherit','open','closed','','nissan-leaf-us-battery-factory-how-an-electric-car-battery-is-made-3','','','2016-04-22 14:55:30','2016-04-22 18:55:30','',10268,'http://www.l2ocredit.com/wp-content/uploads/2016/04/nissan-leaf-us-battery-factory-how-an-electric-car-battery-is-made-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10271,1,'2014-06-06 22:55:23','2014-06-06 22:55:23','Until the next generation LCD touchscreen infotainment systems migrates from the 2015 Volkswagen Golf to the Passat, mid-size shoppers get the same RNS-510 system that VW has been using for some time.  \n\nThe base 6.5-inch touchscreen system is joined by 8-speakers, HD Radio and standard Bluetooth for a decent base package. The systems iDevice and USB integration offers no voice commands like you find in most of the competition, but it is reliable and intuitive. VW offers two different navigation systems depending on how far up the trim ladder you want to walk. SE models with the sunroof can get the \"RNS-315″ which uses a 5-inch touchscreen and very basic navigation software.\n\nJumping up to the SEL model adds a Fender branded speaker package and a 6.5-inch high resolution navigation system with satellite radio and Sirius Travel Link live traffic and information services.  While most of the information is superfluous, the fuel pricing and locations proved handy as locating a diesel station can be tricky. The traffic and Travel Link features require a Sirius subscription and VW tosses in a 6-month trial for free. Sadly VW\'s navigation systems predate the 2012 Passat refresh by a decent window and are among the oldest and least feature rich in the mid-size sedan segment barely scoring a win over the ancient system in the Chrysler 200. You won\'t find smartphone apps, slick graphics and VW has even reduced the number of voice commands the system can recognize because the hardware was unable to handle it with reasonable performance. With Toyota and Honda recently launching their new infotainment systems and Ford\'s MyFordTouch system getting a much needed refresh, this puts VW in next to last place, just in front of the dreadful navigation system lurking in the Mazda6.\nStatistics powered by ChannelMeter http://channelmeter.com','2014 Volkswagen Passat RNS 510 Infotainment Review','','publish','open','open','','2014-volkswagen-passat-rns-510-infotainment-review','','','2014-06-06 22:55:23','2014-06-06 22:55:23','',0,'http://www.l2ocredit.com/2014/06/06/2014-volkswagen-passat-rns-510-infotainment-review/',0,'post','',0),(10272,0,'2016-04-22 15:11:44','2016-04-22 19:11:44','','2014 Volkswagen Passat RNS 510 Infotainment Review','','inherit','open','closed','','2014-volkswagen-passat-rns-510-infotainment-review-2','','','2016-04-22 15:11:44','2016-04-22 19:11:44','',10271,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-volkswagen-passat-rns-510-infotainment-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10273,0,'2016-04-22 15:11:44','2016-04-22 19:11:44','','2014 Volkswagen Passat RNS 510 Infotainment Review','','inherit','open','closed','','2014-volkswagen-passat-rns-510-infotainment-review-2','','','2016-04-22 15:11:44','2016-04-22 19:11:44','',10271,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-volkswagen-passat-rns-510-infotainment-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10274,0,'2016-04-22 15:11:44','2016-04-22 19:11:44','','2014 Volkswagen Passat RNS 510 Infotainment Review','','inherit','open','closed','','2014-volkswagen-passat-rns-510-infotainment-review-3','','','2016-04-22 15:11:44','2016-04-22 19:11:44','',10271,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-volkswagen-passat-rns-510-infotainment-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10275,1,'2016-04-22 16:46:19','2016-04-22 16:46:19','Neither are exactly light, but which provides the best hot-hatch driving experience? Full Article: http://wp.me/p3LQCT-13m2\n\nFollow Driving!\nTwitter: https://twitter.com/drivingdotca\nInstagram: http://instagram.com/drivingca\nFacebook: https://www.facebook.com/drivingdotca','Car Comparison | Volkswagen GTI vs Mini Cooper S Clubman | Driving.ca','','publish','open','open','','car-comparison-volkswagen-gti-vs-mini-cooper-s-clubman-driving-ca-2','','','2016-04-22 16:46:19','2016-04-22 16:46:19','',0,'http://www.l2ocredit.com/2016/04/22/car-comparison-volkswagen-gti-vs-mini-cooper-s-clubman-driving-ca-2/',0,'post','',0),(10276,0,'2016-04-22 15:27:10','2016-04-22 19:27:10','','Car Comparison | Volkswagen GTI vs Mini Cooper S Clubman | Driving.ca','','inherit','open','closed','','car-comparison-volkswagen-gti-vs-mini-cooper-s-clubman-driving-ca-4','','','2016-04-22 15:27:10','2016-04-22 19:27:10','',10275,'http://www.l2ocredit.com/wp-content/uploads/2016/04/car-comparison-volkswagen-gti-vs-mini-cooper-s-clubman-driving-ca-2-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10277,0,'2016-04-22 15:27:10','2016-04-22 19:27:10','','Car Comparison | Volkswagen GTI vs Mini Cooper S Clubman | Driving.ca','','inherit','open','closed','','car-comparison-volkswagen-gti-vs-mini-cooper-s-clubman-driving-ca-5','','','2016-04-22 15:27:10','2016-04-22 19:27:10','',10275,'http://www.l2ocredit.com/wp-content/uploads/2016/04/car-comparison-volkswagen-gti-vs-mini-cooper-s-clubman-driving-ca-2-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10278,0,'2016-04-22 15:27:10','2016-04-22 19:27:10','','Car Comparison | Volkswagen GTI vs Mini Cooper S Clubman | Driving.ca','','inherit','open','closed','','car-comparison-volkswagen-gti-vs-mini-cooper-s-clubman-driving-ca-6','','','2016-04-22 15:27:10','2016-04-22 19:27:10','',10275,'http://www.l2ocredit.com/wp-content/uploads/2016/04/car-comparison-volkswagen-gti-vs-mini-cooper-s-clubman-driving-ca-2-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10279,1,'2016-04-22 13:02:45','2016-04-22 17:02:45','<div id=\"attachment_153554\" style=\"width: 810px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-153554\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/Prince.jpg\" alt=\"(Lloyd Bishop/NBC/NBCU Photo Bank/Getty Images)\" width=\"800\" height=\"650\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/Prince-300x244.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/Prince-768x624.jpg 768w, http://www.moneysense.ca/wp-content/uploads/2016/04/Prince-660x536.jpg 660w, http://www.moneysense.ca/wp-content/uploads/2016/04/Prince.jpg 800w\" sizes=\"(max-width: 800px) 100vw, 800px\" /><p class=\"wp-caption-text\">(Lloyd Bishop/NBC/NBCU Photo Bank/Getty Images)</p></div>\n<p>Sadly, we all had to say goodbye to one of the 20th century&#8217;s greatest musical contributors yesterday, when singer-songwriter Prince died suddenly at his home in Minnesota at the age of 57.</p>\n<p>The Grammy and Oscar-winner, though, was so much more than a one-of-a-kind performer and instrumentalist. Behind the scenes, he privately donated money to charitable causes and was an advocate for black youth.</p>\n<p>A compelling example of Prince&#8217;s humanitarianism was told by the Rev. Al Sharpton on Thursday, when he described how the legendary artist contacted him to donate money to the family of Florida shooting victim Trayvon Martin.</p>\n<p>“I will never forget when he called me and said he had some funds he wanted to give to Trayvon Martin’s family,” <a href=\"http://www.nydailynews.com/entertainment/gossip/prince-privately-donated-money-family-trayvon-martin-article-1.2610374\" >Sharpton said</a> to the <em>New York Daily News</em>. “Just out of the blue. Just out of the clear blue.”</p>\n<p>“He didn’t want anybody to know,” Sharpton added. “He didn’t even want Trayvon Martin’s family to know where the funds came from.</p>\n<p>“He didn’t want to get involved in partisan politics. He was very concerned about human rights. We spent hours talking about his concerns about technology and getting those skills to inner city youth.”</p>\n<p>In the wake of his death, more stories of his quiet philanthropy are now being discussed publicly—for instance, his secret donation to help keep a historic public library in Louisville, Kentucky, from <a href=\"https://insiderlouisville.com/lifestyle_culture/music/prince-may-have-helped-save-louisville-library-from-closure/\">shutting down</a>. No doubt, more will emerge.</p>\n<p>So the next time you load up Prince on your iTunes, don&#8217;t forget to also reflect on his legacy of charitable giving and think about how you can make the world around you a better place, too.</p>\n<p><strong>Read more about Prince on <em>Maclean&#8217;s</em>:</strong></p>\n<p><a href=\"http://www.macleans.ca/culture/arts/the-joy-in-repetition-princes-floods-of-genius/\">Paul Wells on Prince: A talent for genius » </a></p>\n<p><a href=\"http://www.macleans.ca/culture/arts/how-prince-rock-musics-effortlessly-dangerous-superstar-changed-the-game/\">How Prince, rock’s effortlessly dangerous star, changed the game » </a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/princes-legacy-defined-by-music-and-humanitarianism/\">Prince: icon, innovator, humanitarian</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Prince: icon, innovator, humanitarian','<p>The musician\'s greatness was equally defined by his philanthropy</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/news/princes-legacy-defined-by-music-and-humanitarianism/\">Prince: icon, innovator, humanitarian</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10260-revision-v1','','','2016-04-22 13:02:45','2016-04-22 17:02:45','',10260,'http://feedwordpress.radgeek.com/?rev=53052e0f6fc72ec7ba31c3c59294a157',0,'revision','',0),(10280,1,'2011-11-14 04:57:39','2011-11-14 04:57:39','2009 Lincoln MKS review from www.motormouth.ca','2009 Lincoln MKS review','','publish','open','open','','2009-lincoln-mks-review','','','2011-11-14 04:57:39','2011-11-14 04:57:39','',0,'http://www.l2ocredit.com/2011/11/14/2009-lincoln-mks-review/',0,'post','',0),(10281,0,'2016-04-22 16:08:32','2016-04-22 20:08:32','','2009 Lincoln MKS review','','inherit','open','closed','','2009-lincoln-mks-review-2','','','2016-04-22 16:08:32','2016-04-22 20:08:32','',10280,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-lincoln-mks-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10282,0,'2016-04-22 16:08:32','2016-04-22 20:08:32','','2009 Lincoln MKS review','','inherit','open','closed','','2009-lincoln-mks-review-3','','','2016-04-22 16:08:32','2016-04-22 20:08:32','',10280,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-lincoln-mks-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10283,0,'2016-04-22 16:08:32','2016-04-22 20:08:32','','2009 Lincoln MKS review','','inherit','open','closed','','2009-lincoln-mks-review-4','','','2016-04-22 16:08:32','2016-04-22 20:08:32','',10280,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-lincoln-mks-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10284,1,'2014-07-20 11:43:49','2014-07-20 11:43:49','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nCamerons Car Reviews Score: 5/5 \nPowertrain Options: 3.0 L Turbo Diesel V6, 4.4 L Twin Turbo V8, 5.5 L Twin Turbo V8 with a 7-Speed Automatic RWD or AWD \nEngine &amp; Performance\nBASE ENGINE SIZE 3.0 L \nCAM TYPE Double overhead cam (DOHC)\nCYLINDERS V6 \nVALVES 24\nTORQUE 455 ft-lbs. @ 1600 rpm \nHORSEPOWER 240 hp @ 3600 rpm\nTURNING CIRCLE 40.7 ft.  \nWeights and Capacities\nMAXIMUM TOWING CAPACITY** 7500 lbs. \nMAXIMUM PAYLOAD** 1698 lbs.\nEPA INTERIOR VOLUME 143.6 cu.ft. \nDRAG COEFFICIENT 0.37 Cd\nCURB WEIGHT 5467 lbs. \nCARGO CAPACITY, ALL SEATS IN PLACE 16.0 cu.ft.\nMAXIMUM CARGO CAPACITY 93.8 cu.ft.  \nFuel\nFUEL TYPE Diesel \nFUEL TYPE Diesel fuel\nFUEL TANK CAPACITY 26.4 gal. \nRANGE IN MILES (CTY/HWY) 501.6/686.4 mi.\nEPA MILEAGE EST. (CTY/HWY) 19/26 mpg \nCompetitors: Cadillac Escalade, Range Rover Sport, Lexus LX, Infiniti QX60, Lincoln Navigator','2015 Mercedes-Benz GL Class (GL350) Start Up and Review 3.0 L Diesel V6','','publish','open','open','','2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6','','','2014-07-20 11:43:49','2014-07-20 11:43:49','',0,'http://www.l2ocredit.com/2014/07/20/2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6/',0,'post','',0),(10285,0,'2016-04-22 16:27:21','2016-04-22 20:27:21','','2015 Mercedes-Benz GL Class (GL350) Start Up and Review 3.0 L Diesel V6','','inherit','open','closed','','2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6-2','','','2016-04-22 16:27:21','2016-04-22 20:27:21','',10284,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10286,0,'2016-04-22 16:27:21','2016-04-22 20:27:21','','2015 Mercedes-Benz GL Class (GL350) Start Up and Review 3.0 L Diesel V6','','inherit','open','closed','','2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6-2','','','2016-04-22 16:27:21','2016-04-22 20:27:21','',10284,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10287,0,'2016-04-22 16:27:21','2016-04-22 20:27:21','','2015 Mercedes-Benz GL Class (GL350) Start Up and Review 3.0 L Diesel V6','','inherit','open','closed','','2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6-3','','','2016-04-22 16:27:21','2016-04-22 20:27:21','',10284,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10288,0,'2016-04-22 16:27:22','2016-04-22 20:27:22','','2015 Mercedes-Benz GL Class (GL350) Start Up and Review 3.0 L Diesel V6','','inherit','open','closed','','2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6-4','','','2016-04-22 16:27:22','2016-04-22 20:27:22','',10284,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10289,0,'2016-04-22 16:27:22','2016-04-22 20:27:22','','2015 Mercedes-Benz GL Class (GL350) Start Up and Review 3.0 L Diesel V6','','inherit','open','closed','','2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6-5','','','2016-04-22 16:27:22','2016-04-22 20:27:22','',10284,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-mercedes-benz-gl-class-gl350-start-up-and-review-3-0-l-diesel-v6-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10290,1,'2016-04-22 09:00:03','2016-04-22 13:00:03','<p><strong>Q: </strong>“I’m selling an older car privately and don’t want to guarantee it. If the buyer gets a safety inspection, am I off the hook?”</p>\n<p><em>—Name withheld, Edmonton, Alta.</em></p>\n<p><strong>A: </strong>A provincial safety standards inspection is not a warranty, although it may give the buyer some peace of mind regarding the condition of some safety systems on the vehicle. Instead, prepare a bill of sale or receipt that includes a disclaimer like the one recommended by Ontario’s Used Car Dealers Association, which states: “This vehicle is being sold ‘as is,’ unfit, not emissions tested and isn’t represented as being in a roadworthy condition, mechanically sound or guaranteed.” Sign it, and make sure the buyer does too.</p>\n<h4>Related: Car insurance in 90 seconds</h4>\n<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT1M17S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_2594056831001_th-5203ede4e4b0731561130b03-1592194039001.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Car insurance in 90 seconds\" />\n        <meta itemprop=\"description\" content=\"MoneySense Senior Editor David Hodges breaks down insurance company jargon to help you determine what level of coverage you really need.\" />\n        <meta itemprop=\"uploadDate\" content=\"2013-08-08T19:13:40+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience2594032639001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"2594032639001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/spend/shopping/auto/how-to-sell-your-car-privately-without-a-guarantee/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #28baf2; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"mailto:ask@moneysense.ca?subject=Ask%20Iny\" >Ask Iny: Leave your auto question for George Iny »</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/shopping/auto/how-to-sell-your-car-privately-without-a-guarantee/\">How to sell your car without a guarantee</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','How to sell your car without a guarantee','<p>Here\'s why a bill of sale or receipt may come in handy</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/shopping/auto/how-to-sell-your-car-privately-without-a-guarantee/\">How to sell your car without a guarantee</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10205-revision-v1','','','2016-04-22 09:00:03','2016-04-22 13:00:03','',10205,'http://feedwordpress.radgeek.com/?rev=903fdbb7ee24fed4110dbc8053aa9aa3',0,'revision','',0),(10291,1,'2016-04-22 08:04:09','2016-04-22 12:04:09','<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT8M26S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://newsandbusiness.rogersdigitalmedia.com.edgesuite.net/bcassets/13639244001/13639244001_4802316069001_WTB-Top-Cities---Brightcove.jpg?pubId=13639244001\" />\n        <meta itemprop=\"name\" content=\"Best Deals in Real Estate 2016: Top rental income cities\" />\n        <meta itemprop=\"description\" content=\"MoneySense editors Mark Browna and Romana King talk the top cities in Canada to buy real estate in.\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-03-14T20:03:12+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4800734585001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4800734585001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p><b></b><span style=\"font-weight: 400;\">Vancouver&#8217;s real estate market is messed up. It&#8217;s really messed up. As a result it&#8217;s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada&#8217;s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland. </span></p>\n<h3><b>No. 1: Foreign buyers</b></h3>\n<p><span style=\"font-weight: 400;\">It’s not very Canadian to discuss the impact of immigration, particularly if it’s negative. But the truth is the Vancouver real estate market <em>has</em> felt the impact of foreign money—in particular, money from rich foreigners. Much of this money comes from mainland China. Also not a very Canadian thing to say. But it’s true. How do we know? Because the phenomenon has been tracked, studied and recorded—and not just in Vancouver. </span></p>\n<p>Data collected by David Ley shows how, over the last few decades, metro Vancouver has become similar to other Pacific Rim “gateway” cities, such as Hong Kong, Singapore, London and Sydney. Each of these gateway cities have rising housing costs that are fuelled by high immigration-driven population growth and foreign investors.</p>\n<p>“In every one of these cities the market is being driven by something other than owner-occupiers. Not just new immigrants, but investors, including offshore investment,” explains Ley. Through his analysis, Ley discovered that in the last 25 years, there’s been an almost 1-to-1 correlation between Vancouver’s rising real estate prices and the surge in international immigration and offshore investors to this West-coast city.</p>\n<p>Ley isn&#8217;t the only one tracking this trend. University of Waterloo geographer Markus Moos and Queen’s University planner Andrejs Skaburskis back up Ley’s findings. Both Moos and Skaburskis concede that Vancouver is an “exceptional” example of how “globalization” can affect a local housing market.</p>\n<p>The biggest contributor to these rising housing prices is that these immigrants not only arrive with great wealth, but continue to earn high incomes outside of Canada. This accumulation and access to money and its investment in Vancouver property led to a “decoupling of housing from local labour market participation,” wrote Moos and Skaburskis.</p>\n<p>Even data released by the city of Vancouver backs up the assertions by these scholars. According to district data virtually nine out of 10 newcomers in the past 20 years were born outside the country—mostly in Asia. City data also shows that many of these new property owners are “circulatory migrants”—foreigners who invest in property in Canada while working offshore.</p>\n<p>Some detractors of this data argue that rich foreigners only invest in luxury properties—purchases that don&#8217;t impact neighbourhoods (and prices) where regular, middle-class Vancouverites choose to buy homes. But that’s just not true.</p>\n<p>Ley describes the impact as a “trickle-down effect,” which occurs when rich immigrants and investors push up housing prices across the entire lower mainland real estate market. It’s a phenomenon that Andy Yan, an urban planning researcher and adjunct professor at University of British Columbia (UBC), has been documenting for years. He turned his <a href=\"http://www.slideshare.net/ayan604/ownership-patterns-of-single-family-homes-sales-on-the-west-side-neighborhoods-of-the-city-of-vancouver-a-case-study\" >data and research</a> into maps that document the growth of home prices in metro Vancouver. In the first map (below) there are virtually no properties east of Main Street listed for over $1 million.</p>\n<div id=\"attachment_153022\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153022\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png\" alt=\"(Andy Yan, 2014 / BTA Works)\" width=\"498\" height=\"421\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014-300x254.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png 498w\" sizes=\"(max-width: 498px) 100vw, 498px\" /><p class=\"wp-caption-text\">(Andy Yan, 2014 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The second map (below) shows 2015 home prices in metro Vancouver. Notice how many of the homes east of Main Street are now priced at $1 million or more. </span></p>\n<div id=\"attachment_153024\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153024\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png\" alt=\"(Andy Yan, 2015 / BTA Works)\" width=\"529\" height=\"408\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015-300x231.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png 529w\" sizes=\"(max-width: 529px) 100vw, 529px\" /><p class=\"wp-caption-text\">(Andy Yan, 2015 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The final map (below) shows 2016 housing prices. Notice how the number of houses selling for over $1 million has increased dramatically. Now, the sea of red spreads past metro Vancouver and into the inner suburbs. </span></p>\n<div id=\"attachment_153026\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153026\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png\" alt=\"(Andy Yan, 2016 / BTA Works) \" width=\"524\" height=\"407\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016-300x233.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png 524w\" sizes=\"(max-width: 524px) 100vw, 524px\" /><p class=\"wp-caption-text\">(Andy Yan, 2016 / BTA Works)</p></div>\n<p>“It’s not as if you can draw a clear partition. The property values in the west side influence the prices in the east side. Demand is just deflected, for example, from Kitsilano to Main Street and Commercial Drive,” says Ley. Now, the problem extends well beyond the city limits and into the suburbs.</p>\n<p>“Some investors are buying a few houses at the same time,” states one exasperated reader. “Some of the deals are even arranged remotely from overseas. This will eventually mean that more and more people will have no choice but to look for jobs in other provinces.”</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\">Canada&#8217;s best deals in real estate 2016 » </a></p>\n<h3><b>No. </b><b>2: Ineffective regulation</b></h3>\n<p><span style=\"font-weight: 400;\">But foreign buyers aren’t the only culprits in Vancouver’s messy real estate market. Fast money, unscrupulous people, and a general malaise when it comes to defining and enforcing bad conduct has taken its toll on the city. </span></p>\n<p><span style=\"font-weight: 400;\">A recent </span><a href=\"http://www.theglobeandmail.com/news/investigations/inside-a-fast-growing-bc-firm-that-has-home-sellers-crying-foul/article29578417/\" ><span style=\"font-weight: 400;\"><em>Globe and Mail</em> investigation</span></a><span style=\"font-weight: 400;\"> found that Vancouver real estate agents who were disciplined for wrongdoing faced fines and suspensions that were nothing short of a joke when compared to the hefty commissions earned on real estate transactions. The <em>Globe</em>’s report showed that of the more than 100 recent disciplinary proceedings, some confidential, the fines averaged out at $4,850. Compare this to the potential commission on a $1.78-million home—the average price paid in metro Vancouver in the first quarter of 2016—which works out to $22,500, and you can see why some agents simply consider these fines as the cost of doing business.</span></p>\n<p>What’s worse is the <em>Globe and Mail</em> investigation found that only a fraction of agents lost their licences over misconduct. Those who did receive a suspension were barred, on average, from practising for six weeks. In comparison, the Fraser Valley Real Estate Board—the private board in charge of lower mainland real estate, such as Langley and Abbotsford—is known for much stiffer penalties for realtors that breach ethics or regulations.</p>\n<p>“Some people have done some really bad things and they just get a slap on the wrist,” says Janet Mackenzie, a Vancouver regulatory affairs executive, who spoke to the <em>Globe</em>, late last year. “Having [agents] policing [agents] has shown to not be the best model.”</p>\n<p>Mackenzie actually found herself in the middle of the problem when her own real estate agent forged her signature during a condo deal a few years ago. Mackenzie lodged a complaint with the Real Estate Council of B.C. (RECBC), the self-regulating body for the province’s real estate industry. She had to wait two years before RECBC made a ruling—part of it was public and part was private. Publicly, Mackenzie was told her agent was fined $1,250 and given a four month suspension. Privately, RECBC also imposed a $10,000 fine and banned the agent from using the Multiple Listings Service for a year. But it wasn&#8217;t until the <em>Globe</em>&#8216;s investigation that Mackenzie even learned of this subsequent penalty.</p>\n<p>Then there was the recent case that involved New Coast Realty. The brokerage was home to 445 real estate agents and was run by 42-year-old Ze Yu Wu, a permanent resident who moved to Canada from China a year ago, and an unlicensed trainer who taught and encouraged his agents to low-ball and lie to potential sellers in order to earn bigger commissions re-selling the listed homes.</p>\n<blockquote><p><i><span style=\"font-weight: 400;\">In a transcript from the <a href=\"http://www.theglobeandmail.com/real-estate/vancouver/vancouver-real-estate-agents-face-weak-penalties-for-misconduct/article29549072/\" >Globe’s investigation</a>, Wu is heard saying:<br />\n</span></i><span style=\"font-weight: 400;\">“You must print out the lowest prices in the neighbourhood to show to the homeowner. It is very critical to print out low sale prices in the neighbourhood.”</span></p></blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the release of the Globe&#8217;s investigative report, RECBC swooped in to issue licence conditions on New Coast Realty that included the appointment of a new RECBC-approved broker manager, hiring a trainer that was a licensed realtor and complying with conditions imposed on the firm. Thing is, Wu got off relatively scot-free. As an unlicensed trainer (who doesn&#8217;t actually practice real estate sales) he is not bound to the regulations that are imposed on licensed real estate agents. At the heart of these regulations is the notion that a real estate agent must act in their clients’ interests or risk disciplinary action. </span></p>\n<p>Despite the transgressions, New Coast Realty is still operating. And Wu is still making money—and will, as long as realtors pay their office fees and earn a commission.</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-vancouver-top-neighbourhoods/\">Vancouver’s top neighbourhoods » </a></p>\n<h3><b>No. 3: Re-emergence of shadow flipping</b></h3>\n<p><span style=\"font-weight: 400;\">The big reason why Wu and others push for quick home sales is because they can then turn around and resell that property to another buyer—usually at a much higher price. The agent has now earned two commissions on one property, usually within weeks of the initial sale of the home. It’s a process known as <a href=\"http://www.moneysense.ca/spend/real-estate/recent-real-estate-fraud-sparks-calls-for-change/\" >shadow flipping</a>, although it’s legally known as an assignment sale. </span></p>\n<p>An assignment sale allows the current registered buyer of a property to sell their ownership in the property to another interested buyer, even before the first sale is finalized. The use of assignment sales is most common in the arena of new build condos. It’s not uncommon for Canadian new build condo units to change ownership two, three, even four times before the condo building and its units are actually ready for occupation.</p>\n<p><span style=\"font-weight: 400;\">Here’s the rub: In most provinces in Canada, the sales document does</span><span style=\"font-weight: 400;\"> not automatically give a buyer the option to resell their rights to the property. In most provinces, an extra clause or an entirely separate contract must be completed by both the buyer and the initial seller. This helps keep all transactions and intentions totally transparent.</span></p>\n<p><span style=\"font-weight: 400;\">But this isn’t the case if you&#8217;re doing a real estate deal in B.C.’s lower mainland. In Vancouver, an assignment is part of the assumed package of rights that any seller passes onto the buyer. No other notification is needed, or given, as one </span><a href=\"http://www.theglobeandmail.com/news/national/assignment-flipping-feeding-into-speculative-real-estate-market-in-bc/article28634868/\"><span style=\"font-weight: 400;\">West Vancouver couple</span></a><span style=\"font-weight: 400;\"> learned when their recently sold home was re-listed and resold for more than $1 million more than their final sale price. </span></p>\n<p>So much for transparency.</p>\n<p>In the wake of the negative media headlines, RECBC opted to assign an advisory group to come up with deterrents for a list of questionable practices. Under current B.C. law, RECBC or other real estate boards, can fine a real estate agent a maximum of $10,000. To put this in perspective, in Alberta and Ontario the maximum fine is $25,000 for similar misconduct.</p>\n<p><span style=\"font-weight: 400;\">Still, the council’s actions might be a little too late. B.C. Premier, Christy Clark, recently promised the potential of provincial regulations that would impose tougher penalties for those that try to skirt around current and future regulations. One reason why the province may have decided to act independently of the council is that this isn’t the first time B.C.’s lower mainland has faced shadow flipping problems. In the mid-2000s, during a condo boom, assignment sales were so common that some developers put in clauses to forbid them. The rationale was that hot, frothy markets fuelled by money and speculation would drive up the price and could, potentially, create an unsustainable bubble. Not only that, but as early as </span><span style=\"font-weight: 400;\"> <a href=\"http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/\" >May 2008</a>, the provincial office of the superintendent of real estate released a consumer alert that warned of the risks associated with the assignment of contracts.</span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<h3><b>No. 4: Everything is easier with technology</b></h3>\n<p><span style=\"font-weight: 400;\">Another contributing factor is the ease with which technology has shortened the distance on what used to be a localized economic decision. These days, foreign investors don&#8217;t even need to step foot into Canada to snap up some of the most exclusive real estate in B.C.’s lower mainland. Take, for example, the December 2015 sale of the </span><a href=\"http://www.vancouversun.com/business/Priciest+Metro+Vancouver+homes+draw+buyers+from+China/10875651/story.html\" ><span style=\"font-weight: 400;\">$51.8-million Point Grey mansion</span></a><span style=\"font-weight: 400;\"> (that takes up three building lots and overlooks the ocean). The buyer was Mailin Chen, a businessman from mainland China, and it’s reported that he never even left his home in China to purchase his new Vancouver mansion. (Nor did he buy the home himself. His Vancouver-based company, Chunghwa Investment (Canada) Co. Ltd, did—a company that was incorporated in March 2010 and has an office on Howe Street in downtown Vancouver.)</span></p>\n<p><span style=\"font-weight: 400;\">While Chen’s transaction was legal and transparent, there have been reports that some brokerages and websites aren&#8217;t following the same narrow guidelines when it comes to access to listings. In mid-April of this year, </span><em><a href=\"http://globalnews.ca/news/2637687/critics-say-new-shanghai-based-website-gives-foreign-buyers-first-dibs-on-vancouver-homes/\" ><span style=\"font-weight: 400;\">Global News</span></a></em><span style=\"font-weight: 400;\"> reported that a </span><a href=\"http://www.vanfun.com/\" ><span style=\"font-weight: 400;\">Chinese-language website</span></a><span style=\"font-weight: 400;\">, owned by a company in Shanghai, allegedly pulled information from the Canadian MLS system before the information was made public. As is standard practice throughout most provinces in Canada, all new sales listings are entered into MLS, but aren’t made available to the public for 24 to 72 hours (depending on where you are in Canada). But making this information available to only a segment of the open market has raised </span><span style=\"font-weight: 400;\">concerns that</span><span style=\"font-weight: 400;\"> foreign buyers, investing in Metro Vancouver’s hot real estate market, are getting an unfair jump on new listings. Five days later, RECBC issues a notice stating that they’re looking into the transgression not just on the Vanfun.com site, but also on other similar sites. </span></p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-top-25-vancouver-neighbourhoods-to-buy-in/\">Top 25 Vancouver neighbourhoods to buy in » </a></p>\n<h3><b>No. 5: Money laundering</b></h3>\n<p><span style=\"font-weight: 400;\">Then there are the growing problems of money laundering, </span><a href=\"http://www.theprovince.com/video+tackling+money+laundering+fraud+evasion+vancouver+real+estate/11821480/story.html\" ><span style=\"font-weight: 400;\">fraud and tax evasion</span></a><span style=\"font-weight: 400;\">. </span><span style=\"font-weight: 400;\">The </span><a href=\"https://www.facebook.com/MetroVancouverResidents2016/\" ><span style=\"font-weight: 400;\">Housing Action for Local Taxpayers</span></a><span style=\"font-weight: 400;\">, an advocacy group with an aim to hold politicians accountable for housing affordability, </span><a href=\"http://www.theglobeandmail.com/news/national/vancouver-housing-market-vulnerable-to-money-laundering/article29285770/\" ><span style=\"font-weight: 400;\">says that</span></a><span style=\"font-weight: 400;\"> “houses have become opaque cash banks where funds from offshore can find nice safe places to hide—and there’s no need to show a return on the investment as the primary objective is to hide the funds from overseas tax authorities.”</span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that over the past 12 months, dozens of B.C. real estate brokerages have been caught with “significant” or “very significant” deficiencies, explains </span><em><a href=\"http://www.theglobeandmail.com/try-it-now/?articleId=27640202\"><span style=\"font-weight: 400;\">The Globe and Mail</span></a></em><span style=\"font-weight: 400;\">. The discovery was made when the Financial Transactions and Reports Analysis Centre (FINTRAC), which enforces the federal anti-money-laundering laws, decided to step up scrutiny over worries that money, primarily from China, was being laundered through Vancouver real estate. “There were concerns being raised that those in the real estate sector were not fulfilling the obligations under the act,” said FinTRAC spokesperson Darren Gibb. He added that: “The real estate sector is highly vulnerable to money laundering.” As a result of their investigation, FinTRAC found that some real estate agents were neglecting to get proper ID from clients, such as drivers’ licences or passports; failed to verify sources of money; and some brokerage firms simply didn&#8217;t report suspicious or large cash transactions, an obligation under anti-money-laundering laws.</span></p>\n<p><span style=\"font-weight: 400;\">Dan Zitting, chief product officer for Vancouver “big data” analytics firm </span><a href=\"http://www.acl.com/\"><span style=\"font-weight: 400;\">ACL</span></a><span style=\"font-weight: 400;\">, is an expert on detecting patterns of crime in vast pools of data. In recent <em>Globe and Mail</em> and <em>Vancouver Sun</em> interviews, he explained his fears of widespread fraud in B.C.’s property market. “Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of FINTRAC’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”</span></p>\n<p>The Canadian Real Estate Association (CREA), which leads industry training on anti-money-laundering compliance, retorted recently stating that though there were issues, the real problem lay with FINTRAC. CREA called the federal agency’s training webinar “clearly insufficient.” CREA also points out that to help realtors and brokerages, they invested “heavily” in hiring two staff and commissioning outside firms to help bring real estate agents up to speed. “It would be nice if FINTRAC would invest similar time and effort,” said Randall McCauley, CREA’s vice-president of government and public relations. Mr. McCauley calls it “ridiculous” to expect individual real estate agents to have the same infrastructure as banks or casinos to track clients.</p>\n<p>McCauley also points out that the basic infrastructure of the regulations shows a complete “lack of understanding” of the industry. “A huge percentage of our members help individuals sell, then buy a home within days or weeks,” McCauley said. He wonders: Why the increased scrutiny of any buyer who completes two transactions within five years?</p>\n<h3><b>No. 6: The bar is too low</b></h3>\n<p><span style=\"font-weight: 400;\">Despite the problems, people keep pouring into the city and into the Vancouver real estate industry. There are now more than 12,400 agents in the Vancouver area—up 24% from five years ago. Some say that the growth in this profession, along with the increased errors and broken regulations, are due, in part, to the low bar of entry into the field of real estate. One Re/Max realtor stated, in a recent <em>Globe and Mail</em> article, that he wasn’t surprised by all the errors and omissions (and commissions). “It’s too easy to become a realtor in British Columbia, so the level of compliance is going to be a problem,” says Keith Roy, a real estate agent who also sits on the professional-conduct committee of the Real Estate Board of Greater Vancouver (REBGV), the member-based association that represents licensed real estate agents in the area. “The No. 1 way to increase public protection is to have more than a 10-week online course to get your licence.”</span></p>\n<h3><b>No. 7: Lack of unbiased info</b></h3>\n<p><span style=\"font-weight: 400;\">Vancouver&#8217;s growing housing dilemma has put the city on the top of unaffordable lists everywhere. Recently, Demographia ranked the West-coast city as the second most unaffordable city out of 325 around the world. The only city to beat Vancouver from claiming the top spot: Hong Kong. </span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that no one wants to <em>appear</em> to be killing the cash cow. Worse, is that reliable, unbiased information is hard to come by. In the last year, Ian Young, a reporter at the <em>South China Morning Post</em> <a href=\"http://www.theglobeandmail.com/real-estate/in-vancouver-race-undercuts-the-discussion-on-affordability/article19873510/\" >highlighted how</a> the Centre for Urban Economics and Real Estate, run by UBC business professor Tsur Somerville—the academic most often quoted in the media regarding Vancouver&#8217;s housing issues—</span><span style=\"font-weight: 400;\">receives part of its funding from developers. Turns out so do some of the city&#8217;s so-called urban think-tanks—the supposed thought-leaders on urban development. </span></p>\n<p><span style=\"font-weight: 400;\">Yet, those with no personal or professional stake in the discussion—such as <span style=\"font-weight: 400;\">Yan, <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >Elizabeth Murphy</a>, a private-sector project manager, David Wachsmuth, a former UBC urban geographer, now an urban planning assistant professor at McGill, SFU&#8217;s Andrey Pavlov and B.C’s meticulous urban geographer, </span><span style=\"font-weight: 400;\"><a href=\"http://blogs.vancouversun.com/2014/06/27/why-vancouver-housing-is-unaffordable-and-what-to-do-about-it/\" >David Ley (author of Millionaire Migrants)</a>—end up dominating headlines for the wrong reasons. When Ley released his findings last year on the impact of high immigration rates and foreign ownership have on real estate prices, </span></span>Somerville and others tossed out labels of &#8220;racist&#8221; and &#8220;xenophobic.&#8221;</p>\n<h3><b>No. 8: Vancouver wants to grow</b></h3>\n<p><span style=\"font-weight: 400;\">So, why this push for more homeowners and a greater proportion of international investment money? Because the City of Vancouver wants to grow. City personnel suggest that an increase to market residential zoning needs to expand in order to accommodate the million or more people that will settle in the city by 2041. Problem is, this estimated growth is for the entire lower mainland, with only a small fraction establishing a home in the City of Vancouver.</span></p>\n<p><a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" ><span style=\"font-weight: 400;\">Elizabeth Murphy</span></a><span style=\"font-weight: 400;\">, a private-sector project manager and former property development officer with the City of Vancouver’s Housing and Properties Department and for BC Housing, believes that the city’s rezoning and building plans are anything but transparent. She is convinced that the push for major builds, such as large condo towers, is motivated by those who will benefit financially. She sees the arguments that there is a lack of supply to be misleading and believes that the city is actually overbuilding by approximately 2,000 units every five years. The key, according to Murphy, is not more housing units, but better-suited housing units. She believes metro Vancouverites end up in a position of having to rent out units because the units built are expensive and only “serve to promote Vancouver as an investment commodity rather than a planned community.”</span></p>\n<p>Murphy is also concerned that this will have a long-lasting impact on current residents. “What <span style=\"font-weight: 400;\">most people don’t understand is that all this growth doesn’t make the city any money. On the contrary, the city has to subsidize all this growth. The development fees collected by the city only cover a small fraction, about 10%, of the actual costs of servicing the infrastructure for development and the population growth it brings. The massive development that has been completed over that last few decades has served to increase property taxes and the city’s debt,” <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >she writes</a>.</span></p>\n<p>While some growth in any city is inevitable, Murphy and other critics are trying to open up the discussion about how and what to build. “There are many options as to how growth is implemented. There are choices to be made. A concrete jungle of energy-hog glass towers with ugly and expensive monster houses is not inevitable. We can do better.”</p>\n<p><span style=\"font-weight: 400;\">Up next: How Vancouver&#8217;s unaffordable real estate market could seriously impact the future of this city.</span></p>\n<h4><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></h4>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Why Vancouver real estate prices are so crazy','<p>From foreign buyers, to unscrupulous agents, here are the factors that help push prices up </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10191-revision-v1','','','2016-04-22 08:04:09','2016-04-22 12:04:09','',10191,'http://feedwordpress.radgeek.com/?rev=fbf2043e0155fdee498fa7c478a60929',0,'revision','',0),(10292,1,'2014-07-14 11:00:02','2014-07-14 11:00:02','You love to drive, but you love to be driven. Thy name is the Mercedes-Benz S-Class. And while its options may not deliver palm fronds and grapes, the latest S-Class can give you the equivalent of a hot-stone massage and an aroma-therapy session.\n\nFor the latest S-Class pricing and information:\nhttp://www.kbb.com/mercedes-benz/s-class/2014-mercedes-benz-s-class/\n\nKelley Blue Book is your source for new car reviews, features, auto show coverage, and infotainment reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb\n\nTo follow Zach Vlasuk on Twitter, please visit: http://www.twitter.com/zachvlasuk','2014 Mercedes-Benz S Class - Review and Road Test','','publish','open','open','','2014-mercedes-benz-s-class-review-and-road-test','','','2014-07-14 11:00:02','2014-07-14 11:00:02','',0,'http://www.l2ocredit.com/2014/07/14/2014-mercedes-benz-s-class-review-and-road-test/',0,'post','',0),(10293,0,'2016-04-22 17:00:30','2016-04-22 21:00:30','','2014 Mercedes-Benz S Class &#8211; Review and Road Test','','inherit','open','closed','','2014-mercedes-benz-s-class-review-and-road-test-2','','','2016-04-22 17:00:30','2016-04-22 21:00:30','',10292,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-mercedes-benz-s-class-review-and-road-test-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10294,0,'2016-04-22 17:00:30','2016-04-22 21:00:30','','2014 Mercedes-Benz S Class &#8211; Review and Road Test','','inherit','open','closed','','2014-mercedes-benz-s-class-review-and-road-test-3','','','2016-04-22 17:00:30','2016-04-22 21:00:30','',10292,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-mercedes-benz-s-class-review-and-road-test-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10295,0,'2016-04-22 17:00:30','2016-04-22 21:00:30','','2014 Mercedes-Benz S Class &#8211; Review and Road Test','','inherit','open','closed','','2014-mercedes-benz-s-class-review-and-road-test-4','','','2016-04-22 17:00:30','2016-04-22 21:00:30','',10292,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-mercedes-benz-s-class-review-and-road-test-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10296,1,'2015-03-05 12:00:56','2015-03-05 12:00:56','(http://www.autoguide.com/) The 10 most exciting debuts in Geneva\n\nIn stark contrast to its host city, the 2015 Geneva Motor Show spent absolutely no time in neutral territory.\n\nhttp://www.autoguide.com/auto-news/2015/03/top-10-cars-of-the-2015-geneva-motor-show.html\n\nSubscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. Help shop for your new car with informative car buying tips and car recall news, and be entertained with feature stories, Top 10s and car review videos.','Top 10 Cars of the 2015 Geneva Motor Show','','publish','open','open','','top-10-cars-of-the-2015-geneva-motor-show','','','2015-03-05 12:00:56','2015-03-05 12:00:56','',0,'http://www.l2ocredit.com/2015/03/05/top-10-cars-of-the-2015-geneva-motor-show/',0,'post','',0),(10297,0,'2016-04-22 17:15:41','2016-04-22 21:15:41','','Top 10 Cars of the 2015 Geneva Motor Show','','inherit','open','closed','','top-10-cars-of-the-2015-geneva-motor-show-2','','','2016-04-22 17:15:41','2016-04-22 21:15:41','',10296,'http://www.l2ocredit.com/wp-content/uploads/2016/04/top-10-cars-of-the-2015-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10298,0,'2016-04-22 17:15:41','2016-04-22 21:15:41','','Top 10 Cars of the 2015 Geneva Motor Show','','inherit','open','closed','','top-10-cars-of-the-2015-geneva-motor-show-2','','','2016-04-22 17:15:41','2016-04-22 21:15:41','',10296,'http://www.l2ocredit.com/wp-content/uploads/2016/04/top-10-cars-of-the-2015-geneva-motor-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10299,0,'2016-04-22 17:15:42','2016-04-22 21:15:42','','Top 10 Cars of the 2015 Geneva Motor Show','','inherit','open','closed','','top-10-cars-of-the-2015-geneva-motor-show-3','','','2016-04-22 17:15:42','2016-04-22 21:15:42','',10296,'http://www.l2ocredit.com/wp-content/uploads/2016/04/top-10-cars-of-the-2015-geneva-motor-show-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10300,1,'2013-05-17 00:45:37','2013-05-17 00:45:37','Mercedes 2014 S Class World Premiere at Airbus in Hamburg Germany. MotoMan heads to the Airbus A380 assembly facility in Hamburg, Germany to attend the world premiere of the Mercedes flagship, the S Class. Like technology advancements of past S Class\', the 2014 Mercedes S Class -- amongst other things -- now automates driving.\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\nhttp://www.youtube.com/motomantv\n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nWebsite - http://www.MotoMan.TV','Mercedes 2014 S Class World Premiere at Airbus in Hamburg Germany','','publish','open','open','','mercedes-2014-s-class-world-premiere-at-airbus-in-hamburg-germany','','','2013-05-17 00:45:37','2013-05-17 00:45:37','',0,'http://www.l2ocredit.com/2013/05/17/mercedes-2014-s-class-world-premiere-at-airbus-in-hamburg-germany/',0,'post','',0),(10301,0,'2016-04-22 17:44:38','2016-04-22 21:44:38','','Mercedes 2014 S Class World Premiere at Airbus in Hamburg Germany','','inherit','open','closed','','mercedes-2014-s-class-world-premiere-at-airbus-in-hamburg-germany-2','','','2016-04-22 17:44:38','2016-04-22 21:44:38','',10300,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mercedes-2014-s-class-world-premiere-at-airbus-in-hamburg-germany-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10302,0,'2016-04-22 17:44:38','2016-04-22 21:44:38','','Mercedes 2014 S Class World Premiere at Airbus in Hamburg Germany','','inherit','open','closed','','mercedes-2014-s-class-world-premiere-at-airbus-in-hamburg-germany-3','','','2016-04-22 17:44:38','2016-04-22 21:44:38','',10300,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mercedes-2014-s-class-world-premiere-at-airbus-in-hamburg-germany-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10303,0,'2016-04-22 17:44:38','2016-04-22 21:44:38','','Mercedes 2014 S Class World Premiere at Airbus in Hamburg Germany','','inherit','open','closed','','mercedes-2014-s-class-world-premiere-at-airbus-in-hamburg-germany-4','','','2016-04-22 17:44:38','2016-04-22 21:44:38','',10300,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mercedes-2014-s-class-world-premiere-at-airbus-in-hamburg-germany-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10304,1,'2011-11-14 04:47:37','2011-11-14 04:47:37','2009 Infiniti G37 review from www.motormouth.ca','2009 Infiniti G37 review','','publish','open','open','','2009-infiniti-g37-review','','','2011-11-14 04:47:37','2011-11-14 04:47:37','',0,'http://www.l2ocredit.com/2011/11/14/2009-infiniti-g37-review/',0,'post','',0),(10305,0,'2016-04-22 19:33:22','2016-04-22 23:33:22','','2009 Infiniti G37 review','','inherit','open','closed','','2009-infiniti-g37-review-2','','','2016-04-22 19:33:22','2016-04-22 23:33:22','',10304,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-infiniti-g37-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10306,0,'2016-04-22 19:33:22','2016-04-22 23:33:22','','2009 Infiniti G37 review','','inherit','open','closed','','2009-infiniti-g37-review-2','','','2016-04-22 19:33:22','2016-04-22 23:33:22','',10304,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-infiniti-g37-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10307,0,'2016-04-22 19:33:22','2016-04-22 23:33:22','','2009 Infiniti G37 review','','inherit','open','closed','','2009-infiniti-g37-review-2','','','2016-04-22 19:33:22','2016-04-22 23:33:22','',10304,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-infiniti-g37-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10308,0,'2016-04-22 19:33:24','2016-04-22 23:33:24','','2009 Infiniti G37 review','','inherit','open','closed','','2009-infiniti-g37-review-3','','','2016-04-22 19:33:24','2016-04-22 23:33:24','',10304,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-infiniti-g37-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10309,0,'2016-04-22 19:33:24','2016-04-22 23:33:24','','2009 Infiniti G37 review','','inherit','open','closed','','2009-infiniti-g37-review-3','','','2016-04-22 19:33:24','2016-04-22 23:33:24','',10304,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-infiniti-g37-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10310,0,'2016-04-22 19:33:25','2016-04-22 23:33:25','','2009 Infiniti G37 review','','inherit','open','closed','','2009-infiniti-g37-review-4','','','2016-04-22 19:33:25','2016-04-22 23:33:25','',10304,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-infiniti-g37-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10311,1,'2016-04-22 17:13:31','2016-04-22 21:13:31','<p><strong>Q:</strong> How do I convince my unemployed partner to get a job? He shows no initiative and we need the money.</p>\n<p><em>— Stressed in Stratford, Ont.</em></p>\n<p><strong>A:</strong> Get ready for some tough love, says Rona Birenbaum, a Toronto-based financial planner and founder of Caring for Clients. Your first task is to sit down with the budget and show him in black and white which expenses will have to be cut sharply if he doesn’t starting earning. “Make it clear it’s a requirement of the partnership,” says Birenbaum. But also try to keep the tone even-keeled by outlining all the benefits you’ll be able to enjoy together when he returns to work. “That could mean more travel and fun activities now, as well as earlier retirement for both of you,” Birenbaum says. If neither of those options provide the necessary motivation, she suggests talking with a neutral third party present. “This will put reality on the table and allow you to raise awareness of the money issue in an impartial way.”</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/columns/ask-moneysense/how-do-i-convince-my-unemployed-spouse-to-get-a-job/\">Help, my husband won&#8217;t get a job!</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Help, my husband won’t get a job!','<p>Get ready to have a frank discussion about the budget...</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/columns/ask-moneysense/how-do-i-convince-my-unemployed-spouse-to-get-a-job/\">Help, my husband won&rsquo;t get a job!</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','pending','closed','closed','','','','','2016-04-22 17:13:31','2016-04-22 21:13:31','',0,'http://www.moneysense.ca/?p=150268',0,'post','',0),(10312,1,'2016-04-22 17:13:31','2016-04-22 21:13:31','<p><strong>Q:</strong> How do I convince my unemployed partner to get a job? He shows no initiative and we need the money.</p>\n<p><em>— Stressed in Stratford, Ont.</em></p>\n<p><strong>A:</strong> Get ready for some tough love, says Rona Birenbaum, a Toronto-based financial planner and founder of Caring for Clients. Your first task is to sit down with the budget and show him in black and white which expenses will have to be cut sharply if he doesn’t starting earning. “Make it clear it’s a requirement of the partnership,” says Birenbaum. But also try to keep the tone even-keeled by outlining all the benefits you’ll be able to enjoy together when he returns to work. “That could mean more travel and fun activities now, as well as earlier retirement for both of you,” Birenbaum says. If neither of those options provide the necessary motivation, she suggests talking with a neutral third party present. “This will put reality on the table and allow you to raise awareness of the money issue in an impartial way.”</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/columns/ask-moneysense/how-do-i-convince-my-unemployed-spouse-to-get-a-job/\">Help, my husband won&#8217;t get a job!</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Help, my husband won’t get a job!','<p>Get ready to have a frank discussion about the budget...</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/columns/ask-moneysense/how-do-i-convince-my-unemployed-spouse-to-get-a-job/\">Help, my husband won&rsquo;t get a job!</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10311-revision-v1','','','2016-04-22 17:13:31','2016-04-22 21:13:31','',10311,'http://feedwordpress.radgeek.com/?rev=83a2b234f88408eaa708d0f8f56f2a18',0,'revision','',0),(10313,1,'2016-04-22 13:00:25','2016-04-22 17:00:25','<p><a href=\"http://www.moneysense.ca/save/budgeting/budget-basics-how-to-pay-for-today-and-save-for-tomorrow/\"><img class=\"alignright wp-image-151666 size-medium\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Money-Fit-Lindsay-V3-300x229.jpg\" alt=\"Money Fit - Lindsay V3\" width=\"300\" height=\"229\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Money-Fit-Lindsay-V3-300x229.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Money-Fit-Lindsay-V3.jpg 387w\" sizes=\"(max-width: 300px) 100vw, 300px\" /></a><span class=\"entry-content\">In our April 2016 issue of <em>MoneySense</em>, <a href=\"http://www.moneysense.ca/save/budgeting/budget-basics-how-to-pay-for-today-and-save-for-tomorrow/\" >we introduced you to Lindsay Tithecott</a>, a 29-year-old who is trying to pay down debt, build up savings and buy a larger condo. Throughout the year we’ll be giving her a financial challenge every two weeks to help her get her finances in tip top shape. Make sure to follow along! In her last challenge, we asked Lindsay to <a href=\"http://www.moneysense.ca/save/budgeting/money-fit-lindsay-are-my-fitness-classes-a-waste-of-money/\" >rethink her budget-busting fitness classes</a>. This week&#8217;s challenge involves more budget basics. </span></p>\n<h3><strong>Challenge No. 2</strong></h3>\n<p>Lindsay&#8217;s budget factors in savings as if it were an expense. This can make budgeting very confusing. So for her second challenge, we asked Lindsay to redo her budget, starting with annual disposable income and not including any savings at all. The results are eye-opening.</p>\n<p>To do this, we asked her to take pay stubs from both her full-time job and her part-time job and do the following:</p>\n<p>1. Calculate what she earns gross annually from both jobs, then deduct income taxes, EI, CPP, Disability insurance payments, etc. from that amount to get her<strong> total net income.</strong></p>\n<p>2. <strong>Subtract the $2,880 RRSP contribution</strong> that her employer matches dollar for dollar at work from her net income calculated above to determine how much is left.</p>\n<h3><strong>Lindsay&#8217;s experience</strong></h3>\n<p>I&#8217;m so glad I did this challenge and the timing was great for me. I was able to refer to my 2015 tax information since I just filed my taxes. I found completing the calculations for net income, expenses and money left over for investing difficult because I have two jobs; the first has all of the normal taxes, CPP, OAS  and RRSP contributions deducted while the second is from my part time job teaching and for that job, taxes are not taken off the gross amount.</p>\n<p>Usually I try not to think about how much tax I am paying to the government, mainly because dwelling on the amount of tax I pay each year makes me sad. This method of avoidance has worked in the past, but there has always been this grey area that this challenge has has brought to light. Interestingly, it turns out that I have more money than I thought. While this is partially due to a pay increase at both jobs and project-related overtime, most of the extra income came from just running the budget numbers correctly. I even got creative and added a <a href=\"http://www.moneysense.ca/invest/how-to-figure-out-your-financial-priorities/\" >priority pyramid</a> infographic to show the numbers at a glance (see below).</p>\n<p>The numbers were clear. My net pay from both jobs is <strong>$54,483.</strong> The amount I have available yearly for saving or paying down debt is <strong>$8,353.</strong> My RRSP match is <strong>$2,880</strong> and I subtracted this from my net amount. What I have left over annually in my budget that can be used to pay down debt, rather than add to savings is <strong>$5,473.</strong></p>\n<p>What I learned was that I am not making the lower row of the pyramid–debt repayment—a priority. I&#8217;m skipping up to savings and ignoring my debt. I think I have to backtrack in my financial plan to do debt repayment first, and then move up to savings.</p>\n<p>One thing to clarify is that I did not include any annual bonus, which this year amounted to $1,500. My bonus is tied to my employers’ profit. In my career I have seen bonuses range anywhere from nothing (during the recession) to thousands of dollars, and everything in between. I prefer to keep my bonus just that—a bonus! Balancing my budget with money that may or may not get paid to me would be #moneyunfit!</p>\n<p><script id=\"infogram_0_SMDywtXA8KJzVzgR\" title=\"Lindsay Tithecott\'s Priority Pyramid\" src=\"http://e.infogr.am/js/embed.js?MBg\" type=\"text/javascript\"></script></p>\n<div style=\"padding: 8px 0; font-family: Arial!important; font-size: 13px!important; line-height: 15px!important; text-align: center; border-top: 1px solid #dadada; margin: 0 30px;\"><a style=\"color: #989898!important; text-decoration: none!important;\" href=\"https://infogr.am/SMDywtXA8KJzVzgR\" >Lindsay Tithecott&#8217;s Priority Pyramid</a><br />\n<a style=\"color: #989898!important; text-decoration: none!important;\" href=\"https://infogr.am/\" >Create your own infographics</a></div>\n<h3><strong>What the expert says</strong></h3>\n<p>&#8220;The best thing Lindsay can do with the $5,473 she has available annually is to use it all to pay down her line of credit debt,&#8221; says certified financial planner Heather Franklin. She explains how the interest rate on the personal line of credit (PLC) debt is a couple of percentage points higher than her mortgage and car loan so it needs to be brought down to zero. &#8220;A large PLC is going to haunt her until it&#8217;s eliminated,&#8221; says Franklin. &#8220;At $5,000 a year she&#8217;d have this debt eliminated in two years, which is doable for her. Franklin&#8217;s fear is that if Lindsay pays only the PLC interest annually, it will languish for years. &#8220;She&#8217;s not getting great returns in her investments so paying down the debt is still the best savings strategy available to her.&#8221;</p>\n<p>As well, Franklin would like Lindsay to add it to her savings account and use it for emergency savings. Adding the $1,500 bonus to savings would bring her emergency fund to $2,180. It&#8217;s a nice cushion for emergencies but if Lindsay absolutely needs more, she can cash in the $2,238 in the EPOCH US LARGE CAP mutual fund in her TFSA. &#8220;That fund has a very high MER and whoever sold it to her is getting a nice trailer fee from it,&#8221; says Franklin. &#8220;It&#8217;s a fund that&#8217;s performing way below its benchmark for years. She&#8217;s losing money by holding on to this fund.&#8221;</p>\n<p>The key for Lindsay is to make debt repayment a priority but also &#8220;to absolutely not add any more debt to her balance sheet,&#8221; says Franklin. &#8220;From now on, she needs to pledge to stay out of personal debt. Franklin also recommends that Lindsay shelve any new big expenses such as her furnace until she&#8217;s paid down her debt or made the decision to move to a bigger condo or stay put. &#8220;Almost all new expenses that will add to her debt will have to wait—for now,&#8221; says Franklin.</p>\n<hr />\n<p><a href=\"http://www.moneysense.ca/planning/fix-your-money-problems-and-get-moneyfit/\"><img class=\"alignleft wp-image-143076\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/12/Join-the-MoneyFit-club-300x268.png\" alt=\"Join the MoneyFit club\" width=\"175\" height=\"156\" /></a></p>\n<p>Embark on your own financial makeover! It&#8217;s not as hard as it sounds. Join the Money Fit Club to curb spending, boost your earnings, lower your taxes and more!</p>\n<p>Learn to tone your money muscles all year long with our <a href=\"http://www.moneysense.ca/moneyfit-overview/\" >interactive calendar</a> and <a href=\"http://ebm.cheetahmail.com/r/regf2?a=0&amp;aid=877607326&amp;n=1\" >sign up</a> for our weekly newsletter for advice straight to your inbox.</p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/debt/when-to-prioritize-debt-repayment-over-saving/\">When to prioritize debt repayment over saving</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','When to prioritize debt repayment over saving','<p>Lindsay uses the priority pyramid to find out how much money she has to put towards debt repayment or investments</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/debt/when-to-prioritize-debt-repayment-over-saving/\">When to prioritize debt repayment over saving</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','pending','closed','closed','','','','','2016-04-22 13:00:25','2016-04-22 17:00:25','',0,'http://www.moneysense.ca/?p=153322',0,'post','',0),(10314,1,'2016-04-22 13:00:25','2016-04-22 17:00:25','<p><a href=\"http://www.moneysense.ca/save/budgeting/budget-basics-how-to-pay-for-today-and-save-for-tomorrow/\"><img class=\"alignright wp-image-151666 size-medium\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Money-Fit-Lindsay-V3-300x229.jpg\" alt=\"Money Fit - Lindsay V3\" width=\"300\" height=\"229\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Money-Fit-Lindsay-V3-300x229.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Money-Fit-Lindsay-V3.jpg 387w\" sizes=\"(max-width: 300px) 100vw, 300px\" /></a><span class=\"entry-content\">In our April 2016 issue of <em>MoneySense</em>, <a href=\"http://www.moneysense.ca/save/budgeting/budget-basics-how-to-pay-for-today-and-save-for-tomorrow/\" >we introduced you to Lindsay Tithecott</a>, a 29-year-old who is trying to pay down debt, build up savings and buy a larger condo. Throughout the year we’ll be giving her a financial challenge every two weeks to help her get her finances in tip top shape. Make sure to follow along! In her last challenge, we asked Lindsay to <a href=\"http://www.moneysense.ca/save/budgeting/money-fit-lindsay-are-my-fitness-classes-a-waste-of-money/\" >rethink her budget-busting fitness classes</a>. This week&#8217;s challenge involves more budget basics. </span></p>\n<h3><strong>Challenge No. 2</strong></h3>\n<p>Lindsay&#8217;s budget factors in savings as if it were an expense. This can make budgeting very confusing. So for her second challenge, we asked Lindsay to redo her budget, starting with annual disposable income and not including any savings at all. The results are eye-opening.</p>\n<p>To do this, we asked her to take pay stubs from both her full-time job and her part-time job and do the following:</p>\n<p>1. Calculate what she earns gross annually from both jobs, then deduct income taxes, EI, CPP, Disability insurance payments, etc. from that amount to get her<strong> total net income.</strong></p>\n<p>2. <strong>Subtract the $2,880 RRSP contribution</strong> that her employer matches dollar for dollar at work from her net income calculated above to determine how much is left.</p>\n<h3><strong>Lindsay&#8217;s experience</strong></h3>\n<p>I&#8217;m so glad I did this challenge and the timing was great for me. I was able to refer to my 2015 tax information since I just filed my taxes. I found completing the calculations for net income, expenses and money left over for investing difficult because I have two jobs; the first has all of the normal taxes, CPP, OAS  and RRSP contributions deducted while the second is from my part time job teaching and for that job, taxes are not taken off the gross amount.</p>\n<p>Usually I try not to think about how much tax I am paying to the government, mainly because dwelling on the amount of tax I pay each year makes me sad. This method of avoidance has worked in the past, but there has always been this grey area that this challenge has has brought to light. Interestingly, it turns out that I have more money than I thought. While this is partially due to a pay increase at both jobs and project-related overtime, most of the extra income came from just running the budget numbers correctly. I even got creative and added a <a href=\"http://www.moneysense.ca/invest/how-to-figure-out-your-financial-priorities/\" >priority pyramid</a> infographic to show the numbers at a glance (see below).</p>\n<p>The numbers were clear. My net pay from both jobs is <strong>$54,483.</strong> The amount I have available yearly for saving or paying down debt is <strong>$8,353.</strong> My RRSP match is <strong>$2,880</strong> and I subtracted this from my net amount. What I have left over annually in my budget that can be used to pay down debt, rather than add to savings is <strong>$5,473.</strong></p>\n<p>What I learned was that I am not making the lower row of the pyramid–debt repayment—a priority. I&#8217;m skipping up to savings and ignoring my debt. I think I have to backtrack in my financial plan to do debt repayment first, and then move up to savings.</p>\n<p>One thing to clarify is that I did not include any annual bonus, which this year amounted to $1,500. My bonus is tied to my employers’ profit. In my career I have seen bonuses range anywhere from nothing (during the recession) to thousands of dollars, and everything in between. I prefer to keep my bonus just that—a bonus! Balancing my budget with money that may or may not get paid to me would be #moneyunfit!</p>\n<p><script id=\"infogram_0_SMDywtXA8KJzVzgR\" title=\"Lindsay Tithecott\'s Priority Pyramid\" src=\"http://e.infogr.am/js/embed.js?MBg\" type=\"text/javascript\"></script></p>\n<div style=\"padding: 8px 0; font-family: Arial!important; font-size: 13px!important; line-height: 15px!important; text-align: center; border-top: 1px solid #dadada; margin: 0 30px;\"><a style=\"color: #989898!important; text-decoration: none!important;\" href=\"https://infogr.am/SMDywtXA8KJzVzgR\" >Lindsay Tithecott&#8217;s Priority Pyramid</a><br />\n<a style=\"color: #989898!important; text-decoration: none!important;\" href=\"https://infogr.am/\" >Create your own infographics</a></div>\n<h3><strong>What the expert says</strong></h3>\n<p>&#8220;The best thing Lindsay can do with the $5,473 she has available annually is to use it all to pay down her line of credit debt,&#8221; says certified financial planner Heather Franklin. She explains how the interest rate on the personal line of credit (PLC) debt is a couple of percentage points higher than her mortgage and car loan so it needs to be brought down to zero. &#8220;A large PLC is going to haunt her until it&#8217;s eliminated,&#8221; says Franklin. &#8220;At $5,000 a year she&#8217;d have this debt eliminated in two years, which is doable for her. Franklin&#8217;s fear is that if Lindsay pays only the PLC interest annually, it will languish for years. &#8220;She&#8217;s not getting great returns in her investments so paying down the debt is still the best savings strategy available to her.&#8221;</p>\n<p>As well, Franklin would like Lindsay to add it to her savings account and use it for emergency savings. Adding the $1,500 bonus to savings would bring her emergency fund to $2,180. It&#8217;s a nice cushion for emergencies but if Lindsay absolutely needs more, she can cash in the $2,238 in the EPOCH US LARGE CAP mutual fund in her TFSA. &#8220;That fund has a very high MER and whoever sold it to her is getting a nice trailer fee from it,&#8221; says Franklin. &#8220;It&#8217;s a fund that&#8217;s performing way below its benchmark for years. She&#8217;s losing money by holding on to this fund.&#8221;</p>\n<p>The key for Lindsay is to make debt repayment a priority but also &#8220;to absolutely not add any more debt to her balance sheet,&#8221; says Franklin. &#8220;From now on, she needs to pledge to stay out of personal debt. Franklin also recommends that Lindsay shelve any new big expenses such as her furnace until she&#8217;s paid down her debt or made the decision to move to a bigger condo or stay put. &#8220;Almost all new expenses that will add to her debt will have to wait—for now,&#8221; says Franklin.</p>\n<hr />\n<p><a href=\"http://www.moneysense.ca/planning/fix-your-money-problems-and-get-moneyfit/\"><img class=\"alignleft wp-image-143076\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/12/Join-the-MoneyFit-club-300x268.png\" alt=\"Join the MoneyFit club\" width=\"175\" height=\"156\" /></a></p>\n<p>Embark on your own financial makeover! It&#8217;s not as hard as it sounds. Join the Money Fit Club to curb spending, boost your earnings, lower your taxes and more!</p>\n<p>Learn to tone your money muscles all year long with our <a href=\"http://www.moneysense.ca/moneyfit-overview/\" >interactive calendar</a> and <a href=\"http://ebm.cheetahmail.com/r/regf2?a=0&amp;aid=877607326&amp;n=1\" >sign up</a> for our weekly newsletter for advice straight to your inbox.</p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/debt/when-to-prioritize-debt-repayment-over-saving/\">When to prioritize debt repayment over saving</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','When to prioritize debt repayment over saving','<p>Lindsay uses the priority pyramid to find out how much money she has to put towards debt repayment or investments</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/debt/when-to-prioritize-debt-repayment-over-saving/\">When to prioritize debt repayment over saving</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10313-revision-v1','','','2016-04-22 13:00:25','2016-04-22 17:00:25','',10313,'http://feedwordpress.radgeek.com/?rev=cf1259d49c8f15124ba4ff082d727dab',0,'revision','',0),(10315,1,'2014-07-19 18:45:44','2014-07-19 18:45:44','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nCamerons Car Reviews Score: 4.5/5 \nPowertrains: 2.1 L 4-Cylinder Turbo Diesel or a 3.5 L V6 with a 7-Speed Automatic RWD or AWD \nEngine &amp; Performance\nBASE ENGINE SIZE 3.5 L \nCAM TYPE Double overhead cam (DOHC)\nCYLINDERS V6 \nVALVES 24\nVALVE TIMING Variable \nTORQUE 273 ft-lbs. @ 3500 rpm\nHORSEPOWER 302 hp @ 6500 rpm \nTURNING CIRCLE 38.2 ft.\nFuel\nENGINE TYPE Gas \nFUEL TYPE Premium unleaded (required)\nFUEL TANK CAPACITY 17.4 gal. \nRANGE IN MILES (CTY/HWY) 330.6/435.0 mi.\nEPA MILEAGE EST. (CTY/HWY) 19/25 mpg \nWeights and Capacities\nMAXIMUM TOWING CAPACITY** 3500 lbs. \nMAXIMUM PAYLOAD** 1268 lbs.\nGROSS WEIGHT 5467 lbs. \nCURB WEIGHT 4068 lbs.\nCARGO CAPACITY, ALL SEATS IN PLACE 16.5 cu.ft. \nMAXIMUM CARGO CAPACITY 54.7 cu.ft \nFuel\nENGINE TYPE Gas \nFUEL TYPE Premium unleaded (required)\nFUEL TANK CAPACITY 17.4 gal. \nRANGE IN MILES (CTY/HWY) 330.6/435.0 mi.\nEPA MILEAGE EST. (CTY/HWY) 19/25 mpg \nCompetitors: Audi Q5, Lincoln MKC, BMW X3, Lexus NX','2015 Mercedes-Benz GLK Class (GLK 350) Start Up and Review 3.5 L V6','','publish','open','open','','2015-mercedes-benz-glk-class-glk-350-start-up-and-review-3-5-l-v6','','','2014-07-19 18:45:44','2014-07-19 18:45:44','',0,'http://www.l2ocredit.com/2014/07/19/2015-mercedes-benz-glk-class-glk-350-start-up-and-review-3-5-l-v6/',0,'post','',0),(10316,0,'2016-04-22 19:50:10','2016-04-22 23:50:10','','2015 Mercedes-Benz GLK Class (GLK 350) Start Up and Review 3.5 L V6','','inherit','open','closed','','2015-mercedes-benz-glk-class-glk-350-start-up-and-review-3-5-l-v6-2','','','2016-04-22 19:50:10','2016-04-22 23:50:10','',10315,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-mercedes-benz-glk-class-glk-350-start-up-and-review-3-5-l-v6-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10317,0,'2016-04-22 19:50:10','2016-04-22 23:50:10','','2015 Mercedes-Benz GLK Class (GLK 350) Start Up and Review 3.5 L V6','','inherit','open','closed','','2015-mercedes-benz-glk-class-glk-350-start-up-and-review-3-5-l-v6-2','','','2016-04-22 19:50:10','2016-04-22 23:50:10','',10315,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-mercedes-benz-glk-class-glk-350-start-up-and-review-3-5-l-v6-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10318,0,'2016-04-22 19:50:10','2016-04-22 23:50:10','','2015 Mercedes-Benz GLK Class (GLK 350) Start Up and Review 3.5 L V6','','inherit','open','closed','','2015-mercedes-benz-glk-class-glk-350-start-up-and-review-3-5-l-v6-3','','','2016-04-22 19:50:10','2016-04-22 23:50:10','',10315,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-mercedes-benz-glk-class-glk-350-start-up-and-review-3-5-l-v6-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10319,1,'2014-07-07 11:00:03','2014-07-07 11:00:03','Alfa Romeo seeks to be a player in the U.S. marketplace by introducing a full range of vehicles, the first of which being the 2-seat, mid-engine 4C. In this video, KBB\'s Micah Muzio finds out if the new Alfa Romeo 4C is the right car to catapult the Italian automaker into the hearts and minds of American car buyers. \n \nKelley Blue Book is your source for car reviews, road tests, new car launches, auto show coverage and infotainment reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb\n\nTo follow Micah Muzio on Twitter, please visit: http://www.twitter.com/micahmuzio\n','2016 Alfa Romeo 4C - Review and Road Test','','publish','open','open','','2016-alfa-romeo-4c-review-and-road-test','','','2014-07-07 11:00:03','2014-07-07 11:00:03','',0,'http://www.l2ocredit.com/2014/07/07/2016-alfa-romeo-4c-review-and-road-test/',0,'post','',0),(10320,0,'2016-04-22 20:10:29','2016-04-23 00:10:29','','2016 Alfa Romeo 4C &#8211; Review and Road Test','','inherit','open','closed','','2016-alfa-romeo-4c-review-and-road-test-2','','','2016-04-22 20:10:29','2016-04-23 00:10:29','',10319,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-alfa-romeo-4c-review-and-road-test-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10321,0,'2016-04-22 20:10:29','2016-04-23 00:10:29','','2016 Alfa Romeo 4C &#8211; Review and Road Test','','inherit','open','closed','','2016-alfa-romeo-4c-review-and-road-test-3','','','2016-04-22 20:10:29','2016-04-23 00:10:29','',10319,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-alfa-romeo-4c-review-and-road-test-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10322,0,'2016-04-22 20:10:29','2016-04-23 00:10:29','','2016 Alfa Romeo 4C &#8211; Review and Road Test','','inherit','open','closed','','2016-alfa-romeo-4c-review-and-road-test-4','','','2016-04-22 20:10:29','2016-04-23 00:10:29','',10319,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-alfa-romeo-4c-review-and-road-test-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10323,1,'2015-03-05 20:18:07','2015-03-05 20:18:07','While the other automakers are comparing horsepower, zero-to-sixty times and top speeds, Lexus is taking a more practical approach to the 2015 Geneva Motor Show, by showcasing its LF-SA city car concept.\n\nhttp://www.autoguide.com/auto-news/2015/03/lexus-lf-sa-concept-is-a-little-car-with-lots-of-style.html\n\nSubscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. Help shop for your new car with informative car buying tips and car recall news, and be entertained with feature stories, Top 10s and car review videos.','Lexus LF-SA Concept - 2015 Geneva Motor Show','','publish','open','open','','lexus-lf-sa-concept-2015-geneva-motor-show','','','2015-03-05 20:18:07','2015-03-05 20:18:07','',0,'http://www.l2ocredit.com/2015/03/05/lexus-lf-sa-concept-2015-geneva-motor-show/',0,'post','',0),(10324,0,'2016-04-22 20:25:38','2016-04-23 00:25:38','','Lexus LF-SA Concept &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','lexus-lf-sa-concept-2015-geneva-motor-show-2','','','2016-04-22 20:25:38','2016-04-23 00:25:38','',10323,'http://www.l2ocredit.com/wp-content/uploads/2016/04/lexus-lf-sa-concept-2015-geneva-motor-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10325,0,'2016-04-22 20:25:38','2016-04-23 00:25:38','','Lexus LF-SA Concept &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','lexus-lf-sa-concept-2015-geneva-motor-show-3','','','2016-04-22 20:25:38','2016-04-23 00:25:38','',10323,'http://www.l2ocredit.com/wp-content/uploads/2016/04/lexus-lf-sa-concept-2015-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10326,0,'2016-04-22 20:25:38','2016-04-23 00:25:38','','Lexus LF-SA Concept &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','lexus-lf-sa-concept-2015-geneva-motor-show-3','','','2016-04-22 20:25:38','2016-04-23 00:25:38','',10323,'http://www.l2ocredit.com/wp-content/uploads/2016/04/lexus-lf-sa-concept-2015-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10327,1,'2013-05-21 18:00:14','2013-05-21 18:00:14','Cadillac ATS 3.6 On the Rack with Mean Gene. Mean Gene takes a look at the Cadillac ATS and demonstrates just how big of a change in engineering Cadillac and GM undertook to make this the lightest car in its segment.\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\nhttp://www.youtube.com/motomantv\n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nWebsite - http://www.MotoMan.TV','Cadillac ATS 3.6 On the Rack with Mean Gene','','publish','open','open','','cadillac-ats-3-6-on-the-rack-with-mean-gene','','','2013-05-21 18:00:14','2013-05-21 18:00:14','',0,'http://www.l2ocredit.com/2013/05/21/cadillac-ats-3-6-on-the-rack-with-mean-gene/',0,'post','',0),(10328,0,'2016-04-22 20:46:55','2016-04-23 00:46:55','','Cadillac ATS 3.6 On the Rack with Mean Gene','','inherit','open','closed','','cadillac-ats-3-6-on-the-rack-with-mean-gene-2','','','2016-04-22 20:46:55','2016-04-23 00:46:55','',10327,'http://www.l2ocredit.com/wp-content/uploads/2016/04/cadillac-ats-3-6-on-the-rack-with-mean-gene-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10329,0,'2016-04-22 20:46:55','2016-04-23 00:46:55','','Cadillac ATS 3.6 On the Rack with Mean Gene','','inherit','open','closed','','cadillac-ats-3-6-on-the-rack-with-mean-gene-2','','','2016-04-22 20:46:55','2016-04-23 00:46:55','',10327,'http://www.l2ocredit.com/wp-content/uploads/2016/04/cadillac-ats-3-6-on-the-rack-with-mean-gene-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10330,0,'2016-04-22 20:46:56','2016-04-23 00:46:56','','Cadillac ATS 3.6 On the Rack with Mean Gene','','inherit','open','closed','','cadillac-ats-3-6-on-the-rack-with-mean-gene-3','','','2016-04-22 20:46:56','2016-04-23 00:46:56','',10327,'http://www.l2ocredit.com/wp-content/uploads/2016/04/cadillac-ats-3-6-on-the-rack-with-mean-gene-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10331,1,'2016-04-22 09:00:03','2016-04-22 13:00:03','<p><strong>Q: </strong>“I’m selling an older car privately and don’t want to guarantee it. If the buyer gets a safety inspection, am I off the hook?”</p>\n<p><em>—Name withheld, Edmonton, Alta.</em></p>\n<p><strong>A: </strong>A provincial safety standards inspection is not a warranty, although it may give the buyer some peace of mind regarding the condition of some safety systems on the vehicle. Instead, prepare a bill of sale or receipt that includes a disclaimer like the one recommended by Ontario’s Used Car Dealers Association, which states: “This vehicle is being sold ‘as is,’ unfit, not emissions tested and isn’t represented as being in a roadworthy condition, mechanically sound or guaranteed.” Sign it, and make sure the buyer does too.</p>\n<h4>Related: Car insurance in 90 seconds</h4>\n\n        <meta itemprop=\"duration\" content=\"PT1M17S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://www.moneysense.ca/wp-content/uploads/2010/03/cars_4841-e1461331595601-150x150.jpg\" />\n        <meta itemprop=\"name\" content=\"How to sell your car without a guarantee\" />\n        <meta itemprop=\"description\" content=\"Here&#039;s why a bill of sale or receipt may come in handy\" />\n        <meta itemprop=\"uploadDate\" content=\"2016-04-22T09:00:03+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience2594032639001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"2594032639001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/spend/shopping/auto/how-to-sell-your-car-privately-without-a-guarantee/\" />\n        <param name=\"autoStart\" value=\"true\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #28baf2; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"mailto:ask@moneysense.ca?subject=Ask%20Iny\" >Ask Iny: Leave your auto question for George Iny »</a></p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/shopping/auto/how-to-sell-your-car-privately-without-a-guarantee/\">How to sell your car without a guarantee</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','How to sell your car without a guarantee','<p>Here\'s why a bill of sale or receipt may come in handy</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/shopping/auto/how-to-sell-your-car-privately-without-a-guarantee/\">How to sell your car without a guarantee</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10205-revision-v1','','','2016-04-22 09:00:03','2016-04-22 13:00:03','',10205,'http://feedwordpress.radgeek.com/?rev=a5e314811b147885b9d0eeebae10ed33',0,'revision','',0),(10332,1,'2016-04-22 08:04:09','2016-04-22 12:04:09','\n        <meta itemprop=\"duration\" content=\"PT8M26S\" />\n        <meta itemprop=\"thumbnailUrl\" content=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Vancouver-rankings_401-150x150.jpg\" />\n        <meta itemprop=\"name\" content=\"Why Vancouver real estate prices are so crazy\" />\n        <meta itemprop=\"description\" content=\"From foreign buyers, to unscrupulous agents, here are the factors that help push prices up \" />\n        <meta itemprop=\"uploadDate\" content=\"2016-04-22T08:04:09+00:00\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4800734585001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4800734585001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\" />\n        <param name=\"autoStart\" value=\"true\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p><b></b><span style=\"font-weight: 400;\">Vancouver&#8217;s real estate market is messed up. It&#8217;s really messed up. As a result it&#8217;s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada&#8217;s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland. </span></p>\n<h3><b>No. 1: Foreign buyers</b></h3>\n<p><span style=\"font-weight: 400;\">It’s not very Canadian to discuss the impact of immigration, particularly if it’s negative. But the truth is the Vancouver real estate market <em>has</em> felt the impact of foreign money—in particular, money from rich foreigners. Much of this money comes from mainland China. Also not a very Canadian thing to say. But it’s true. How do we know? Because the phenomenon has been tracked, studied and recorded—and not just in Vancouver. </span></p>\n<p>Data collected by David Ley shows how, over the last few decades, metro Vancouver has become similar to other Pacific Rim “gateway” cities, such as Hong Kong, Singapore, London and Sydney. Each of these gateway cities have rising housing costs that are fuelled by high immigration-driven population growth and foreign investors.</p>\n<p>“In every one of these cities the market is being driven by something other than owner-occupiers. Not just new immigrants, but investors, including offshore investment,” explains Ley. Through his analysis, Ley discovered that in the last 25 years, there’s been an almost 1-to-1 correlation between Vancouver’s rising real estate prices and the surge in international immigration and offshore investors to this West-coast city.</p>\n<p>Ley isn&#8217;t the only one tracking this trend. University of Waterloo geographer Markus Moos and Queen’s University planner Andrejs Skaburskis back up Ley’s findings. Both Moos and Skaburskis concede that Vancouver is an “exceptional” example of how “globalization” can affect a local housing market.</p>\n<p>The biggest contributor to these rising housing prices is that these immigrants not only arrive with great wealth, but continue to earn high incomes outside of Canada. This accumulation and access to money and its investment in Vancouver property led to a “decoupling of housing from local labour market participation,” wrote Moos and Skaburskis.</p>\n<p>Even data released by the city of Vancouver backs up the assertions by these scholars. According to district data virtually nine out of 10 newcomers in the past 20 years were born outside the country—mostly in Asia. City data also shows that many of these new property owners are “circulatory migrants”—foreigners who invest in property in Canada while working offshore.</p>\n<p>Some detractors of this data argue that rich foreigners only invest in luxury properties—purchases that don&#8217;t impact neighbourhoods (and prices) where regular, middle-class Vancouverites choose to buy homes. But that’s just not true.</p>\n<p>Ley describes the impact as a “trickle-down effect,” which occurs when rich immigrants and investors push up housing prices across the entire lower mainland real estate market. It’s a phenomenon that Andy Yan, an urban planning researcher and adjunct professor at University of British Columbia (UBC), has been documenting for years. He turned his <a href=\"http://www.slideshare.net/ayan604/ownership-patterns-of-single-family-homes-sales-on-the-west-side-neighborhoods-of-the-city-of-vancouver-a-case-study\" >data and research</a> into maps that document the growth of home prices in metro Vancouver. In the first map (below) there are virtually no properties east of Main Street listed for over $1 million.</p>\n<div id=\"attachment_153022\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153022\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png\" alt=\"(Andy Yan, 2014 / BTA Works)\" width=\"498\" height=\"421\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014-300x254.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png 498w\" sizes=\"(max-width: 498px) 100vw, 498px\" /><p class=\"wp-caption-text\">(Andy Yan, 2014 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The second map (below) shows 2015 home prices in metro Vancouver. Notice how many of the homes east of Main Street are now priced at $1 million or more. </span></p>\n<div id=\"attachment_153024\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153024\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png\" alt=\"(Andy Yan, 2015 / BTA Works)\" width=\"529\" height=\"408\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015-300x231.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png 529w\" sizes=\"(max-width: 529px) 100vw, 529px\" /><p class=\"wp-caption-text\">(Andy Yan, 2015 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The final map (below) shows 2016 housing prices. Notice how the number of houses selling for over $1 million has increased dramatically. Now, the sea of red spreads past metro Vancouver and into the inner suburbs. </span></p>\n<div id=\"attachment_153026\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153026\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png\" alt=\"(Andy Yan, 2016 / BTA Works) \" width=\"524\" height=\"407\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016-300x233.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png 524w\" sizes=\"(max-width: 524px) 100vw, 524px\" /><p class=\"wp-caption-text\">(Andy Yan, 2016 / BTA Works)</p></div>\n<p>“It’s not as if you can draw a clear partition. The property values in the west side influence the prices in the east side. Demand is just deflected, for example, from Kitsilano to Main Street and Commercial Drive,” says Ley. Now, the problem extends well beyond the city limits and into the suburbs.</p>\n<p>“Some investors are buying a few houses at the same time,” states one exasperated reader. “Some of the deals are even arranged remotely from overseas. This will eventually mean that more and more people will have no choice but to look for jobs in other provinces.”</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\">Canada&#8217;s best deals in real estate 2016 » </a></p>\n<h3><b>No. </b><b>2: Ineffective regulation</b></h3>\n<p><span style=\"font-weight: 400;\">But foreign buyers aren’t the only culprits in Vancouver’s messy real estate market. Fast money, unscrupulous people, and a general malaise when it comes to defining and enforcing bad conduct has taken its toll on the city. </span></p>\n<p><span style=\"font-weight: 400;\">A recent </span><a href=\"http://www.theglobeandmail.com/news/investigations/inside-a-fast-growing-bc-firm-that-has-home-sellers-crying-foul/article29578417/\" ><span style=\"font-weight: 400;\"><em>Globe and Mail</em> investigation</span></a><span style=\"font-weight: 400;\"> found that Vancouver real estate agents who were disciplined for wrongdoing faced fines and suspensions that were nothing short of a joke when compared to the hefty commissions earned on real estate transactions. The <em>Globe</em>’s report showed that of the more than 100 recent disciplinary proceedings, some confidential, the fines averaged out at $4,850. Compare this to the potential commission on a $1.78-million home—the average price paid in metro Vancouver in the first quarter of 2016—which works out to $22,500, and you can see why some agents simply consider these fines as the cost of doing business.</span></p>\n<p>What’s worse is the <em>Globe and Mail</em> investigation found that only a fraction of agents lost their licences over misconduct. Those who did receive a suspension were barred, on average, from practising for six weeks. In comparison, the Fraser Valley Real Estate Board—the private board in charge of lower mainland real estate, such as Langley and Abbotsford—is known for much stiffer penalties for realtors that breach ethics or regulations.</p>\n<p>“Some people have done some really bad things and they just get a slap on the wrist,” says Janet Mackenzie, a Vancouver regulatory affairs executive, who spoke to the <em>Globe</em>, late last year. “Having [agents] policing [agents] has shown to not be the best model.”</p>\n<p>Mackenzie actually found herself in the middle of the problem when her own real estate agent forged her signature during a condo deal a few years ago. Mackenzie lodged a complaint with the Real Estate Council of B.C. (RECBC), the self-regulating body for the province’s real estate industry. She had to wait two years before RECBC made a ruling—part of it was public and part was private. Publicly, Mackenzie was told her agent was fined $1,250 and given a four month suspension. Privately, RECBC also imposed a $10,000 fine and banned the agent from using the Multiple Listings Service for a year. But it wasn&#8217;t until the <em>Globe</em>&#8216;s investigation that Mackenzie even learned of this subsequent penalty.</p>\n<p>Then there was the recent case that involved New Coast Realty. The brokerage was home to 445 real estate agents and was run by 42-year-old Ze Yu Wu, a permanent resident who moved to Canada from China a year ago, and an unlicensed trainer who taught and encouraged his agents to low-ball and lie to potential sellers in order to earn bigger commissions re-selling the listed homes.</p>\n<blockquote><p><i><span style=\"font-weight: 400;\">In a transcript from the <a href=\"http://www.theglobeandmail.com/real-estate/vancouver/vancouver-real-estate-agents-face-weak-penalties-for-misconduct/article29549072/\" >Globe’s investigation</a>, Wu is heard saying:<br />\n</span></i><span style=\"font-weight: 400;\">“You must print out the lowest prices in the neighbourhood to show to the homeowner. It is very critical to print out low sale prices in the neighbourhood.”</span></p></blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the release of the Globe&#8217;s investigative report, RECBC swooped in to issue licence conditions on New Coast Realty that included the appointment of a new RECBC-approved broker manager, hiring a trainer that was a licensed realtor and complying with conditions imposed on the firm. Thing is, Wu got off relatively scot-free. As an unlicensed trainer (who doesn&#8217;t actually practice real estate sales) he is not bound to the regulations that are imposed on licensed real estate agents. At the heart of these regulations is the notion that a real estate agent must act in their clients’ interests or risk disciplinary action. </span></p>\n<p>Despite the transgressions, New Coast Realty is still operating. And Wu is still making money—and will, as long as realtors pay their office fees and earn a commission.</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-vancouver-top-neighbourhoods/\">Vancouver’s top neighbourhoods » </a></p>\n<h3><b>No. 3: Re-emergence of shadow flipping</b></h3>\n<p><span style=\"font-weight: 400;\">The big reason why Wu and others push for quick home sales is because they can then turn around and resell that property to another buyer—usually at a much higher price. The agent has now earned two commissions on one property, usually within weeks of the initial sale of the home. It’s a process known as <a href=\"http://www.moneysense.ca/spend/real-estate/recent-real-estate-fraud-sparks-calls-for-change/\" >shadow flipping</a>, although it’s legally known as an assignment sale. </span></p>\n<p>An assignment sale allows the current registered buyer of a property to sell their ownership in the property to another interested buyer, even before the first sale is finalized. The use of assignment sales is most common in the arena of new build condos. It’s not uncommon for Canadian new build condo units to change ownership two, three, even four times before the condo building and its units are actually ready for occupation.</p>\n<p><span style=\"font-weight: 400;\">Here’s the rub: In most provinces in Canada, the sales document does</span><span style=\"font-weight: 400;\"> not automatically give a buyer the option to resell their rights to the property. In most provinces, an extra clause or an entirely separate contract must be completed by both the buyer and the initial seller. This helps keep all transactions and intentions totally transparent.</span></p>\n<p><span style=\"font-weight: 400;\">But this isn’t the case if you&#8217;re doing a real estate deal in B.C.’s lower mainland. In Vancouver, an assignment is part of the assumed package of rights that any seller passes onto the buyer. No other notification is needed, or given, as one </span><a href=\"http://www.theglobeandmail.com/news/national/assignment-flipping-feeding-into-speculative-real-estate-market-in-bc/article28634868/\"><span style=\"font-weight: 400;\">West Vancouver couple</span></a><span style=\"font-weight: 400;\"> learned when their recently sold home was re-listed and resold for more than $1 million more than their final sale price. </span></p>\n<p>So much for transparency.</p>\n<p>In the wake of the negative media headlines, RECBC opted to assign an advisory group to come up with deterrents for a list of questionable practices. Under current B.C. law, RECBC or other real estate boards, can fine a real estate agent a maximum of $10,000. To put this in perspective, in Alberta and Ontario the maximum fine is $25,000 for similar misconduct.</p>\n<p><span style=\"font-weight: 400;\">Still, the council’s actions might be a little too late. B.C. Premier, Christy Clark, recently promised the potential of provincial regulations that would impose tougher penalties for those that try to skirt around current and future regulations. One reason why the province may have decided to act independently of the council is that this isn’t the first time B.C.’s lower mainland has faced shadow flipping problems. In the mid-2000s, during a condo boom, assignment sales were so common that some developers put in clauses to forbid them. The rationale was that hot, frothy markets fuelled by money and speculation would drive up the price and could, potentially, create an unsustainable bubble. Not only that, but as early as </span><span style=\"font-weight: 400;\"> <a href=\"http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/\" >May 2008</a>, the provincial office of the superintendent of real estate released a consumer alert that warned of the risks associated with the assignment of contracts.</span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<h3><b>No. 4: Everything is easier with technology</b></h3>\n<p><span style=\"font-weight: 400;\">Another contributing factor is the ease with which technology has shortened the distance on what used to be a localized economic decision. These days, foreign investors don&#8217;t even need to step foot into Canada to snap up some of the most exclusive real estate in B.C.’s lower mainland. Take, for example, the December 2015 sale of the </span><a href=\"http://www.vancouversun.com/business/Priciest+Metro+Vancouver+homes+draw+buyers+from+China/10875651/story.html\" ><span style=\"font-weight: 400;\">$51.8-million Point Grey mansion</span></a><span style=\"font-weight: 400;\"> (that takes up three building lots and overlooks the ocean). The buyer was Mailin Chen, a businessman from mainland China, and it’s reported that he never even left his home in China to purchase his new Vancouver mansion. (Nor did he buy the home himself. His Vancouver-based company, Chunghwa Investment (Canada) Co. Ltd, did—a company that was incorporated in March 2010 and has an office on Howe Street in downtown Vancouver.)</span></p>\n<p><span style=\"font-weight: 400;\">While Chen’s transaction was legal and transparent, there have been reports that some brokerages and websites aren&#8217;t following the same narrow guidelines when it comes to access to listings. In mid-April of this year, </span><em><a href=\"http://globalnews.ca/news/2637687/critics-say-new-shanghai-based-website-gives-foreign-buyers-first-dibs-on-vancouver-homes/\" ><span style=\"font-weight: 400;\">Global News</span></a></em><span style=\"font-weight: 400;\"> reported that a </span><a href=\"http://www.vanfun.com/\" ><span style=\"font-weight: 400;\">Chinese-language website</span></a><span style=\"font-weight: 400;\">, owned by a company in Shanghai, allegedly pulled information from the Canadian MLS system before the information was made public. As is standard practice throughout most provinces in Canada, all new sales listings are entered into MLS, but aren’t made available to the public for 24 to 72 hours (depending on where you are in Canada). But making this information available to only a segment of the open market has raised </span><span style=\"font-weight: 400;\">concerns that</span><span style=\"font-weight: 400;\"> foreign buyers, investing in Metro Vancouver’s hot real estate market, are getting an unfair jump on new listings. Five days later, RECBC issues a notice stating that they’re looking into the transgression not just on the Vanfun.com site, but also on other similar sites. </span></p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-top-25-vancouver-neighbourhoods-to-buy-in/\">Top 25 Vancouver neighbourhoods to buy in » </a></p>\n<h3><b>No. 5: Money laundering</b></h3>\n<p><span style=\"font-weight: 400;\">Then there are the growing problems of money laundering, </span><a href=\"http://www.theprovince.com/video+tackling+money+laundering+fraud+evasion+vancouver+real+estate/11821480/story.html\" ><span style=\"font-weight: 400;\">fraud and tax evasion</span></a><span style=\"font-weight: 400;\">. </span><span style=\"font-weight: 400;\">The </span><a href=\"https://www.facebook.com/MetroVancouverResidents2016/\" ><span style=\"font-weight: 400;\">Housing Action for Local Taxpayers</span></a><span style=\"font-weight: 400;\">, an advocacy group with an aim to hold politicians accountable for housing affordability, </span><a href=\"http://www.theglobeandmail.com/news/national/vancouver-housing-market-vulnerable-to-money-laundering/article29285770/\" ><span style=\"font-weight: 400;\">says that</span></a><span style=\"font-weight: 400;\"> “houses have become opaque cash banks where funds from offshore can find nice safe places to hide—and there’s no need to show a return on the investment as the primary objective is to hide the funds from overseas tax authorities.”</span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that over the past 12 months, dozens of B.C. real estate brokerages have been caught with “significant” or “very significant” deficiencies, explains </span><em><a href=\"http://www.theglobeandmail.com/try-it-now/?articleId=27640202\"><span style=\"font-weight: 400;\">The Globe and Mail</span></a></em><span style=\"font-weight: 400;\">. The discovery was made when the Financial Transactions and Reports Analysis Centre (FINTRAC), which enforces the federal anti-money-laundering laws, decided to step up scrutiny over worries that money, primarily from China, was being laundered through Vancouver real estate. “There were concerns being raised that those in the real estate sector were not fulfilling the obligations under the act,” said FinTRAC spokesperson Darren Gibb. He added that: “The real estate sector is highly vulnerable to money laundering.” As a result of their investigation, FinTRAC found that some real estate agents were neglecting to get proper ID from clients, such as drivers’ licences or passports; failed to verify sources of money; and some brokerage firms simply didn&#8217;t report suspicious or large cash transactions, an obligation under anti-money-laundering laws.</span></p>\n<p><span style=\"font-weight: 400;\">Dan Zitting, chief product officer for Vancouver “big data” analytics firm </span><a href=\"http://www.acl.com/\"><span style=\"font-weight: 400;\">ACL</span></a><span style=\"font-weight: 400;\">, is an expert on detecting patterns of crime in vast pools of data. In recent <em>Globe and Mail</em> and <em>Vancouver Sun</em> interviews, he explained his fears of widespread fraud in B.C.’s property market. “Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of FINTRAC’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”</span></p>\n<p>The Canadian Real Estate Association (CREA), which leads industry training on anti-money-laundering compliance, retorted recently stating that though there were issues, the real problem lay with FINTRAC. CREA called the federal agency’s training webinar “clearly insufficient.” CREA also points out that to help realtors and brokerages, they invested “heavily” in hiring two staff and commissioning outside firms to help bring real estate agents up to speed. “It would be nice if FINTRAC would invest similar time and effort,” said Randall McCauley, CREA’s vice-president of government and public relations. Mr. McCauley calls it “ridiculous” to expect individual real estate agents to have the same infrastructure as banks or casinos to track clients.</p>\n<p>McCauley also points out that the basic infrastructure of the regulations shows a complete “lack of understanding” of the industry. “A huge percentage of our members help individuals sell, then buy a home within days or weeks,” McCauley said. He wonders: Why the increased scrutiny of any buyer who completes two transactions within five years?</p>\n<h3><b>No. 6: The bar is too low</b></h3>\n<p><span style=\"font-weight: 400;\">Despite the problems, people keep pouring into the city and into the Vancouver real estate industry. There are now more than 12,400 agents in the Vancouver area—up 24% from five years ago. Some say that the growth in this profession, along with the increased errors and broken regulations, are due, in part, to the low bar of entry into the field of real estate. One Re/Max realtor stated, in a recent <em>Globe and Mail</em> article, that he wasn’t surprised by all the errors and omissions (and commissions). “It’s too easy to become a realtor in British Columbia, so the level of compliance is going to be a problem,” says Keith Roy, a real estate agent who also sits on the professional-conduct committee of the Real Estate Board of Greater Vancouver (REBGV), the member-based association that represents licensed real estate agents in the area. “The No. 1 way to increase public protection is to have more than a 10-week online course to get your licence.”</span></p>\n<h3><b>No. 7: Lack of unbiased info</b></h3>\n<p><span style=\"font-weight: 400;\">Vancouver&#8217;s growing housing dilemma has put the city on the top of unaffordable lists everywhere. Recently, Demographia ranked the West-coast city as the second most unaffordable city out of 325 around the world. The only city to beat Vancouver from claiming the top spot: Hong Kong. </span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that no one wants to <em>appear</em> to be killing the cash cow. Worse, is that reliable, unbiased information is hard to come by. In the last year, Ian Young, a reporter at the <em>South China Morning Post</em> <a href=\"http://www.theglobeandmail.com/real-estate/in-vancouver-race-undercuts-the-discussion-on-affordability/article19873510/\" >highlighted how</a> the Centre for Urban Economics and Real Estate, run by UBC business professor Tsur Somerville—the academic most often quoted in the media regarding Vancouver&#8217;s housing issues—</span><span style=\"font-weight: 400;\">receives part of its funding from developers. Turns out so do some of the city&#8217;s so-called urban think-tanks—the supposed thought-leaders on urban development. </span></p>\n<p><span style=\"font-weight: 400;\">Yet, those with no personal or professional stake in the discussion—such as <span style=\"font-weight: 400;\">Yan, <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >Elizabeth Murphy</a>, a private-sector project manager, David Wachsmuth, a former UBC urban geographer, now an urban planning assistant professor at McGill, SFU&#8217;s Andrey Pavlov and B.C’s meticulous urban geographer, </span><span style=\"font-weight: 400;\"><a href=\"http://blogs.vancouversun.com/2014/06/27/why-vancouver-housing-is-unaffordable-and-what-to-do-about-it/\" >David Ley (author of Millionaire Migrants)</a>—end up dominating headlines for the wrong reasons. When Ley released his findings last year on the impact of high immigration rates and foreign ownership have on real estate prices, </span></span>Somerville and others tossed out labels of &#8220;racist&#8221; and &#8220;xenophobic.&#8221;</p>\n<h3><b>No. 8: Vancouver wants to grow</b></h3>\n<p><span style=\"font-weight: 400;\">So, why this push for more homeowners and a greater proportion of international investment money? Because the City of Vancouver wants to grow. City personnel suggest that an increase to market residential zoning needs to expand in order to accommodate the million or more people that will settle in the city by 2041. Problem is, this estimated growth is for the entire lower mainland, with only a small fraction establishing a home in the City of Vancouver.</span></p>\n<p><a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" ><span style=\"font-weight: 400;\">Elizabeth Murphy</span></a><span style=\"font-weight: 400;\">, a private-sector project manager and former property development officer with the City of Vancouver’s Housing and Properties Department and for BC Housing, believes that the city’s rezoning and building plans are anything but transparent. She is convinced that the push for major builds, such as large condo towers, is motivated by those who will benefit financially. She sees the arguments that there is a lack of supply to be misleading and believes that the city is actually overbuilding by approximately 2,000 units every five years. The key, according to Murphy, is not more housing units, but better-suited housing units. She believes metro Vancouverites end up in a position of having to rent out units because the units built are expensive and only “serve to promote Vancouver as an investment commodity rather than a planned community.”</span></p>\n<p>Murphy is also concerned that this will have a long-lasting impact on current residents. “What <span style=\"font-weight: 400;\">most people don’t understand is that all this growth doesn’t make the city any money. On the contrary, the city has to subsidize all this growth. The development fees collected by the city only cover a small fraction, about 10%, of the actual costs of servicing the infrastructure for development and the population growth it brings. The massive development that has been completed over that last few decades has served to increase property taxes and the city’s debt,” <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >she writes</a>.</span></p>\n<p>While some growth in any city is inevitable, Murphy and other critics are trying to open up the discussion about how and what to build. “There are many options as to how growth is implemented. There are choices to be made. A concrete jungle of energy-hog glass towers with ugly and expensive monster houses is not inevitable. We can do better.”</p>\n<p><span style=\"font-weight: 400;\">Up next: How Vancouver&#8217;s unaffordable real estate market could seriously impact the future of this city.</span></p>\n<h4><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></h4>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Why Vancouver real estate prices are so crazy','<p>From foreign buyers, to unscrupulous agents, here are the factors that help push prices up </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10191-revision-v1','','','2016-04-22 08:04:09','2016-04-22 12:04:09','',10191,'http://feedwordpress.radgeek.com/?rev=c5ac307c36bb75962f5a128ef4886a71',0,'revision','',0),(10333,1,'2014-06-06 01:54:47','2014-06-06 01:54:47','This week I snagged a 2014 Volkswagen Passat and three child seats to see how family friendly the German sedan really is. Thanks to a considerable stretch versus the last generation Passat, this North American (and Chinese market) sedan easily accommodated child seats in every possible configuration. Check out the video to learn more and stay tuned for the full review coming up tomorrow.\nStatistics powered by ChannelMeter http://channelmeter.com','2014 Volkswagen Passat Child Seat Review','','publish','open','open','','2014-volkswagen-passat-child-seat-review','','','2014-06-06 01:54:47','2014-06-06 01:54:47','',0,'http://www.l2ocredit.com/2014/06/06/2014-volkswagen-passat-child-seat-review/',0,'post','',0),(10334,0,'2016-04-22 21:07:13','2016-04-23 01:07:13','','2014 Volkswagen Passat Child Seat Review','','inherit','open','closed','','2014-volkswagen-passat-child-seat-review-2','','','2016-04-22 21:07:13','2016-04-23 01:07:13','',10333,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-volkswagen-passat-child-seat-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10335,0,'2016-04-22 21:07:13','2016-04-23 01:07:13','','2014 Volkswagen Passat Child Seat Review','','inherit','open','closed','','2014-volkswagen-passat-child-seat-review-2','','','2016-04-22 21:07:13','2016-04-23 01:07:13','',10333,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-volkswagen-passat-child-seat-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10336,0,'2016-04-22 21:07:13','2016-04-23 01:07:13','','2014 Volkswagen Passat Child Seat Review','','inherit','open','closed','','2014-volkswagen-passat-child-seat-review-3','','','2016-04-22 21:07:13','2016-04-23 01:07:13','',10333,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-volkswagen-passat-child-seat-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10337,1,'2011-11-14 04:40:47','2011-11-14 04:40:47','2009 Chevrolet Traverse review from www.motormouth.ca','2009 Chevrolet Traverse review','','publish','open','open','','2009-chevrolet-traverse-review','','','2011-11-14 04:40:47','2011-11-14 04:40:47','',0,'http://www.l2ocredit.com/2011/11/14/2009-chevrolet-traverse-review/',0,'post','',0),(10338,0,'2016-04-22 21:59:01','2016-04-23 01:59:01','','2009 Chevrolet Traverse review','','inherit','open','closed','','2009-chevrolet-traverse-review-2','','','2016-04-22 21:59:01','2016-04-23 01:59:01','',10337,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-chevrolet-traverse-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10339,0,'2016-04-22 21:59:01','2016-04-23 01:59:01','','2009 Chevrolet Traverse review','','inherit','open','closed','','2009-chevrolet-traverse-review-3','','','2016-04-22 21:59:01','2016-04-23 01:59:01','',10337,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-chevrolet-traverse-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10340,0,'2016-04-22 21:59:01','2016-04-23 01:59:01','','2009 Chevrolet Traverse review','','inherit','open','closed','','2009-chevrolet-traverse-review-4','','','2016-04-22 21:59:01','2016-04-23 01:59:01','',10337,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-chevrolet-traverse-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10341,0,'2016-04-22 21:59:02','2016-04-23 01:59:02','','2009 Chevrolet Traverse review','','inherit','open','closed','','2009-chevrolet-traverse-review-5','','','2016-04-22 21:59:02','2016-04-23 01:59:02','',10337,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-chevrolet-traverse-review-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10342,1,'2014-07-18 16:48:04','2014-07-18 16:48:04','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nPhotos: https://www.facebook.com/media/set/?set=a.596806203665092.1073741855.349462695066112&amp;type=3\nCamerons Car Reviews Score: 4.5/5  \nPowertrain Options: 2.5 L 4-Cylinder or a 3.6 L V6 with a 6-Speed Automatic  \nEngine &amp; Performance\nBASE ENGINE SIZE 3.6 L \nCAM TYPE Double overhead cam (DOHC)\nCYLINDERS V6 \nVALVES 24\nVALVE TIMING Variable \nTORQUE 264 ft-lbs. @ 5200 rpm\nHORSEPOWER 305 hp @ 6800 rpm \nTURNING CIRCLE 38.8 ft.\nFuel\nFUEL TYPE Flex-fuel (FFV) \nFUEL TYPE Flex-fuel (unleaded/E85)\nFUEL TANK CAPACITY 18.5 gal. \nRANGE IN MILES (CTY/HWY) 351.5/536.5 mi.\nEPA MILEAGE EST. (CTY/HWY) 19/29 mpg \nWeights and Capacities\nMAXIMUM TOWING CAPACITY** 1000 lbs. \nEPA INTERIOR VOLUME 123.8 cu.ft.\nCARGO CAPACITY, ALL SEATS IN PLACE 18.8 cu.ft. \nCompetitors: Toyota Avalon, Chrysler 300, Dodge Charger, Ford Taurus, Nissan Maxima ','2015 Chevrolet Impala Start up and Review 3.6 L V6','','publish','open','open','','2015-chevrolet-impala-start-up-and-review-3-6-l-v6','','','2014-07-18 16:48:04','2014-07-18 16:48:04','',0,'http://www.l2ocredit.com/2014/07/18/2015-chevrolet-impala-start-up-and-review-3-6-l-v6/',0,'post','',0),(10343,0,'2016-04-22 22:16:00','2016-04-23 02:16:00','','2015 Chevrolet Impala Start up and Review 3.6 L V6','','inherit','open','closed','','2015-chevrolet-impala-start-up-and-review-3-6-l-v6-2','','','2016-04-22 22:16:00','2016-04-23 02:16:00','',10342,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-chevrolet-impala-start-up-and-review-3-6-l-v6-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10344,0,'2016-04-22 22:16:00','2016-04-23 02:16:00','','2015 Chevrolet Impala Start up and Review 3.6 L V6','','inherit','open','closed','','2015-chevrolet-impala-start-up-and-review-3-6-l-v6-2','','','2016-04-22 22:16:00','2016-04-23 02:16:00','',10342,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-chevrolet-impala-start-up-and-review-3-6-l-v6-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10345,0,'2016-04-22 22:16:00','2016-04-23 02:16:00','','2015 Chevrolet Impala Start up and Review 3.6 L V6','','inherit','open','closed','','2015-chevrolet-impala-start-up-and-review-3-6-l-v6-3','','','2016-04-22 22:16:00','2016-04-23 02:16:00','',10342,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-chevrolet-impala-start-up-and-review-3-6-l-v6-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10346,1,'2014-06-30 11:00:02','2014-06-30 11:00:02','Certified Pre-Owned or \"CPO\" programs originated in the luxury sector due to high rates of off-lease vehicles. Today, a variety of organizations have jumped on the Certified Pre-Owned bandwagon, including mainstream automakers, dealers, and several third-party suppliers.\n\nClick here to find your next CPO vehicle:\nhttp://www.kbb.com/certified-pre-owned/\n\nKelley Blue Book is your source for new car reviews, auto show coverage, comparison tests, features, and technology reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb\n\n\nKelley Blue Book is your source for new car reviews, auto show coverage, comparison tests, features, and technology reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb','What is Certified Pre-Owned (CPO)? - Kelley Blue Book','','publish','open','open','','what-is-certified-pre-owned-cpo-kelley-blue-book','','','2014-06-30 11:00:02','2014-06-30 11:00:02','',0,'http://www.l2ocredit.com/2014/06/30/what-is-certified-pre-owned-cpo-kelley-blue-book/',0,'post','',0),(10347,0,'2016-04-22 22:32:17','2016-04-23 02:32:17','','What is Certified Pre-Owned (CPO)? &#8211; Kelley Blue Book','','inherit','open','closed','','what-is-certified-pre-owned-cpo-kelley-blue-book-2','','','2016-04-22 22:32:17','2016-04-23 02:32:17','',10346,'http://www.l2ocredit.com/wp-content/uploads/2016/04/what-is-certified-pre-owned-cpo-kelley-blue-book-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10348,0,'2016-04-22 22:32:17','2016-04-23 02:32:17','','What is Certified Pre-Owned (CPO)? &#8211; Kelley Blue Book','','inherit','open','closed','','what-is-certified-pre-owned-cpo-kelley-blue-book-2','','','2016-04-22 22:32:17','2016-04-23 02:32:17','',10346,'http://www.l2ocredit.com/wp-content/uploads/2016/04/what-is-certified-pre-owned-cpo-kelley-blue-book-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10349,0,'2016-04-22 22:32:18','2016-04-23 02:32:18','','What is Certified Pre-Owned (CPO)? &#8211; Kelley Blue Book','','inherit','open','closed','','what-is-certified-pre-owned-cpo-kelley-blue-book-3','','','2016-04-22 22:32:18','2016-04-23 02:32:18','',10346,'http://www.l2ocredit.com/wp-content/uploads/2016/04/what-is-certified-pre-owned-cpo-kelley-blue-book-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10350,1,'2015-03-04 23:50:49','2015-03-04 23:50:49','Lotus is showing off the company’s fastest and most powerful production model ever at the 2015 Geneva Motor Show.\n\nhttp://www.autoguide.com/auto-news/2015/03/Lotus+Evora+400+Pumps+Up+the+Power\n\nSubscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. Help shop for your new car with informative car buying tips and car recall news, and be entertained with feature stories, Top 10s and car review videos.','2016 Lotus Evora 400 - 2015 Geneva Motor Show','','publish','open','open','','2016-lotus-evora-400-2015-geneva-motor-show','','','2015-03-04 23:50:49','2015-03-04 23:50:49','',0,'http://www.l2ocredit.com/2015/03/04/2016-lotus-evora-400-2015-geneva-motor-show/',0,'post','',0),(10351,0,'2016-04-22 22:50:18','2016-04-23 02:50:18','','2016 Lotus Evora 400 &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','2016-lotus-evora-400-2015-geneva-motor-show-2','','','2016-04-22 22:50:18','2016-04-23 02:50:18','',10350,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-lotus-evora-400-2015-geneva-motor-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10352,0,'2016-04-22 22:50:18','2016-04-23 02:50:18','','2016 Lotus Evora 400 &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','2016-lotus-evora-400-2015-geneva-motor-show-3','','','2016-04-22 22:50:18','2016-04-23 02:50:18','',10350,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-lotus-evora-400-2015-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10353,0,'2016-04-22 22:50:18','2016-04-23 02:50:18','','2016 Lotus Evora 400 &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','2016-lotus-evora-400-2015-geneva-motor-show-4','','','2016-04-22 22:50:18','2016-04-23 02:50:18','',10350,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-lotus-evora-400-2015-geneva-motor-show-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10354,0,'2016-04-22 22:50:18','2016-04-23 02:50:18','','2016 Lotus Evora 400 &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','2016-lotus-evora-400-2015-geneva-motor-show-5','','','2016-04-22 22:50:18','2016-04-23 02:50:18','',10350,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-lotus-evora-400-2015-geneva-motor-show-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10355,1,'2013-05-08 21:39:30','2013-05-08 21:39:30','Morgan 3 Wheeler. Mean Gene &amp; MotoMan step back into the Morgan world to see where it all started with the new 2013 Three Wheeler. MotoMan traces the history of Morgan Motor Company from HFS Morgan to piloting the 3 Wheeler through the Malibu Mountains. Mean Gene puts the smallest \'car\' we have had on the rack for a closer look at what makes this 3 Wheeler a Morgan.\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\nhttp://www.youtube.com/motomantv\n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nWebsite - http://www.MotoMan.TV','Morgan 3 Wheeler - MotoMan','','publish','open','open','','morgan-3-wheeler-motoman','','','2013-05-08 21:39:30','2013-05-08 21:39:30','',0,'http://www.l2ocredit.com/2013/05/08/morgan-3-wheeler-motoman/',0,'post','',0),(10356,0,'2016-04-22 23:06:18','2016-04-23 03:06:18','','Morgan 3 Wheeler &#8211; MotoMan','','inherit','open','closed','','morgan-3-wheeler-motoman-2','','','2016-04-22 23:06:18','2016-04-23 03:06:18','',10355,'http://www.l2ocredit.com/wp-content/uploads/2016/04/morgan-3-wheeler-motoman-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10357,0,'2016-04-22 23:06:18','2016-04-23 03:06:18','','Morgan 3 Wheeler &#8211; MotoMan','','inherit','open','closed','','morgan-3-wheeler-motoman-2','','','2016-04-22 23:06:18','2016-04-23 03:06:18','',10355,'http://www.l2ocredit.com/wp-content/uploads/2016/04/morgan-3-wheeler-motoman-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10358,0,'2016-04-22 23:06:18','2016-04-23 03:06:18','','Morgan 3 Wheeler &#8211; MotoMan','','inherit','open','closed','','morgan-3-wheeler-motoman-3','','','2016-04-22 23:06:18','2016-04-23 03:06:18','',10355,'http://www.l2ocredit.com/wp-content/uploads/2016/04/morgan-3-wheeler-motoman-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10359,0,'2016-04-22 23:06:19','2016-04-23 03:06:19','','Morgan 3 Wheeler &#8211; MotoMan','','inherit','open','closed','','morgan-3-wheeler-motoman-4','','','2016-04-22 23:06:19','2016-04-23 03:06:19','',10355,'http://www.l2ocredit.com/wp-content/uploads/2016/04/morgan-3-wheeler-motoman-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10360,1,'2014-06-02 17:55:07','2014-06-02 17:55:07','Instead of an Alex On Autos Weekly segment I decided to whip up a quick (well, as quick as I can make one) video of a 2014 Kia Soul + rental car I had while I was in Southern California for a few days. Hopefully I\'ll have a Soul for a full week before the end of the summer so I can finish up a complete review set including a child seat video and an infotainment video along with more detailed comparisons. In the mean time, snuggle up with your favorite hamster and enjoy!\nStatistics powered by ChannelMeter http://channelmeter.com','2014 Kia Soul Review and Road Test (Quick Spin)','','publish','open','open','','2014-kia-soul-review-and-road-test-quick-spin','','','2014-06-02 17:55:07','2014-06-02 17:55:07','',0,'http://www.l2ocredit.com/2014/06/02/2014-kia-soul-review-and-road-test-quick-spin/',0,'post','',0),(10361,0,'2016-04-22 23:35:26','2016-04-23 03:35:26','','2014 Kia Soul Review and Road Test (Quick Spin)','','inherit','open','closed','','2014-kia-soul-review-and-road-test-quick-spin-2','','','2016-04-22 23:35:26','2016-04-23 03:35:26','',10360,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-kia-soul-review-and-road-test-quick-spin-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10362,0,'2016-04-22 23:35:26','2016-04-23 03:35:26','','2014 Kia Soul Review and Road Test (Quick Spin)','','inherit','open','closed','','2014-kia-soul-review-and-road-test-quick-spin-2','','','2016-04-22 23:35:26','2016-04-23 03:35:26','',10360,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-kia-soul-review-and-road-test-quick-spin-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10363,0,'2016-04-22 23:35:27','2016-04-23 03:35:27','','2014 Kia Soul Review and Road Test (Quick Spin)','','inherit','open','closed','','2014-kia-soul-review-and-road-test-quick-spin-3','','','2016-04-22 23:35:27','2016-04-23 03:35:27','',10360,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-kia-soul-review-and-road-test-quick-spin-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10364,1,'2011-11-13 08:16:31','2011-11-13 08:16:31','2009 BMW 335 Dinan stage 2 review from www.motormouth.ca','2009 BMW 335 Dinan stage 2 review','','publish','open','open','','2009-bmw-335-dinan-stage-2-review','','','2011-11-13 08:16:31','2011-11-13 08:16:31','',0,'http://www.l2ocredit.com/2011/11/13/2009-bmw-335-dinan-stage-2-review/',0,'post','',0),(10365,0,'2016-04-23 01:00:21','2016-04-23 05:00:21','','2009 BMW 335 Dinan stage 2 review','','inherit','open','closed','','2009-bmw-335-dinan-stage-2-review-2','','','2016-04-23 01:00:21','2016-04-23 05:00:21','',10364,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-bmw-335-dinan-stage-2-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10366,0,'2016-04-23 01:00:21','2016-04-23 05:00:21','','2009 BMW 335 Dinan stage 2 review','','inherit','open','closed','','2009-bmw-335-dinan-stage-2-review-3','','','2016-04-23 01:00:21','2016-04-23 05:00:21','',10364,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-bmw-335-dinan-stage-2-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10367,0,'2016-04-23 01:00:22','2016-04-23 05:00:22','','2009 BMW 335 Dinan stage 2 review','','inherit','open','closed','','2009-bmw-335-dinan-stage-2-review-4','','','2016-04-23 01:00:22','2016-04-23 05:00:22','',10364,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-bmw-335-dinan-stage-2-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10368,0,'2016-04-23 01:00:22','2016-04-23 05:00:22','','2009 BMW 335 Dinan stage 2 review','','inherit','open','closed','','2009-bmw-335-dinan-stage-2-review-5','','','2016-04-23 01:00:22','2016-04-23 05:00:22','',10364,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-bmw-335-dinan-stage-2-review-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10369,1,'2014-06-19 11:00:02','2014-06-19 11:00:02','Members of Camp Pendleton\'s 2nd Battalion, 11th Marines visited KBB\'s headquarters in Irvine, CA before their deployment to Okinawa, Japan. We thanked them for their service the only way we know how...\n\nKelley Blue Book is your source for new car reviews, auto show coverage, comparison tests, features, and technology reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb','U.S. Marines Test Porsche Launch Control - KBB Quick Take','','publish','open','open','','u-s-marines-test-porsche-launch-control-kbb-quick-take','','','2014-06-19 11:00:02','2014-06-19 11:00:02','',0,'http://www.l2ocredit.com/2014/06/19/u-s-marines-test-porsche-launch-control-kbb-quick-take/',0,'post','',0),(10370,0,'2016-04-23 01:35:34','2016-04-23 05:35:34','','U.S. Marines Test Porsche Launch Control &#8211; KBB Quick Take','','inherit','open','closed','','u-s-marines-test-porsche-launch-control-kbb-quick-take-2','','','2016-04-23 01:35:34','2016-04-23 05:35:34','',10369,'http://www.l2ocredit.com/wp-content/uploads/2016/04/u-s-marines-test-porsche-launch-control-kbb-quick-take-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10371,0,'2016-04-23 01:35:34','2016-04-23 05:35:34','','U.S. Marines Test Porsche Launch Control &#8211; KBB Quick Take','','inherit','open','closed','','u-s-marines-test-porsche-launch-control-kbb-quick-take-2','','','2016-04-23 01:35:34','2016-04-23 05:35:34','',10369,'http://www.l2ocredit.com/wp-content/uploads/2016/04/u-s-marines-test-porsche-launch-control-kbb-quick-take-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10372,0,'2016-04-23 01:35:34','2016-04-23 05:35:34','','U.S. Marines Test Porsche Launch Control &#8211; KBB Quick Take','','inherit','open','closed','','u-s-marines-test-porsche-launch-control-kbb-quick-take-3','','','2016-04-23 01:35:34','2016-04-23 05:35:34','',10369,'http://www.l2ocredit.com/wp-content/uploads/2016/04/u-s-marines-test-porsche-launch-control-kbb-quick-take-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10373,0,'2016-04-23 01:35:34','2016-04-23 05:35:34','','U.S. Marines Test Porsche Launch Control &#8211; KBB Quick Take','','inherit','open','closed','','u-s-marines-test-porsche-launch-control-kbb-quick-take-4','','','2016-04-23 01:35:34','2016-04-23 05:35:34','',10369,'http://www.l2ocredit.com/wp-content/uploads/2016/04/u-s-marines-test-porsche-launch-control-kbb-quick-take-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10374,1,'2015-03-04 22:02:51','2015-03-04 22:02:51','Those looking to get a taste of McLaren’s latest creation will have to act fast, only 500 of them are being sold.\n\nhttp://www.autoguide.com/auto-news/2015/03/mclaren-675lt-limited-to-500-units.html\n\nSubscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. Help shop for your new car with informative car buying tips and car recall news, and be entertained with feature stories, Top 10s and car review videos.','McLaren 675LT - 2015 Geneva Motor Show','','publish','open','open','','mclaren-675lt-2015-geneva-motor-show','','','2015-03-04 22:02:51','2015-03-04 22:02:51','',0,'http://www.l2ocredit.com/2015/03/04/mclaren-675lt-2015-geneva-motor-show/',0,'post','',0),(10375,0,'2016-04-23 01:51:55','2016-04-23 05:51:55','','McLaren 675LT &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-675lt-2015-geneva-motor-show-2','','','2016-04-23 01:51:55','2016-04-23 05:51:55','',10374,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-675lt-2015-geneva-motor-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10376,0,'2016-04-23 01:51:55','2016-04-23 05:51:55','','McLaren 675LT &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-675lt-2015-geneva-motor-show-3','','','2016-04-23 01:51:55','2016-04-23 05:51:55','',10374,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-675lt-2015-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10377,0,'2016-04-23 01:51:55','2016-04-23 05:51:55','','McLaren 675LT &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-675lt-2015-geneva-motor-show-4','','','2016-04-23 01:51:55','2016-04-23 05:51:55','',10374,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-675lt-2015-geneva-motor-show-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10378,0,'2016-04-23 01:51:56','2016-04-23 05:51:56','','McLaren 675LT &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-675lt-2015-geneva-motor-show-5','','','2016-04-23 01:51:56','2016-04-23 05:51:56','',10374,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-675lt-2015-geneva-motor-show-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10379,0,'2016-04-23 01:51:56','2016-04-23 05:51:56','','McLaren 675LT &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-675lt-2015-geneva-motor-show-6','','','2016-04-23 01:51:56','2016-04-23 05:51:56','',10374,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-675lt-2015-geneva-motor-show-youtube-thumbnail-4.jpg',0,'attachment','image/jpeg',0),(10380,1,'2013-05-03 18:00:24','2013-05-03 18:00:24','Mercedes Benz SL550. Mean Gene &amp; MotoMan take a look at the Mercedes Benz SL550. Mean Gene gets underneath and takes apart the Mercedes SL to find some surprises and while driving the convertible Benz, MotoMan finds some of his own.\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\nhttp://www.youtube.com/motomantv\n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nWebsite - http://www.MotoMan.TV','Mercedes Benz SL550 - 2013','','publish','open','open','','mercedes-benz-sl550-2013','','','2013-05-03 18:00:24','2013-05-03 18:00:24','',0,'http://www.l2ocredit.com/2013/05/03/mercedes-benz-sl550-2013/',0,'post','',0),(10381,0,'2016-04-23 02:07:48','2016-04-23 06:07:48','','Mercedes Benz SL550 &#8211; 2013','','inherit','open','closed','','mercedes-benz-sl550-2013-2','','','2016-04-23 02:07:48','2016-04-23 06:07:48','',10380,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mercedes-benz-sl550-2013-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10382,0,'2016-04-23 02:07:48','2016-04-23 06:07:48','','Mercedes Benz SL550 &#8211; 2013','','inherit','open','closed','','mercedes-benz-sl550-2013-2','','','2016-04-23 02:07:48','2016-04-23 06:07:48','',10380,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mercedes-benz-sl550-2013-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10383,0,'2016-04-23 02:07:48','2016-04-23 06:07:48','','Mercedes Benz SL550 &#8211; 2013','','inherit','open','closed','','mercedes-benz-sl550-2013-3','','','2016-04-23 02:07:48','2016-04-23 06:07:48','',10380,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mercedes-benz-sl550-2013-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10384,1,'2016-04-23 01:18:51','2016-04-23 05:18:51','<p><img class=\"alignleft size-full wp-image-153652\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/Screen-Shot-2016-04-22-at-6.24.18-PM.png\" alt=\"Sabew canada\" width=\"493\" height=\"206\" />Did you hear? <em>MoneySense </em><a href=\"https://twitter.com/sabewCDA/status/722935175076835329\" >won the SABEW Canada best multimedia coverage award</a> for our Best Deals in Real Estate 2015 ranking.</p>\n<p>In case you missed it, here&#8217;s our <a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\" >Best Deals in Real Estate 2016 ranking</a>—it&#8217;s even bigger and better than last year&#8217;s!</p>\n<p>Congratulations to editors <a href=\"http://www.moneysense.ca/author/mark-brown/\">Mark Brown</a>, <a href=\"http://www.moneysense.ca/author/romana-king/\">Romana King</a> and <a href=\"http://www.moneysense.ca/author/stefania-moretti/\">Stefania Di Verdi</a> for their hard work.</p>\n<p>This isn&#8217;t the first time we&#8217;ve taken home a SABEW Best in Business prize. We also won for our Best Deals in Real Estate 2014 ranking. Check out the 2015 version <a href=\"http://www.moneysense.ca/save/financial-planning/canadas-best-places-to-live-2015-overview/\" >here</a>.</p>\n<p>&nbsp;</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/moneysense-real-estate-coverage-wins-big/\">MoneySense real estate coverage wins big</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','MoneySense real estate coverage wins big','<p>Our Best Deals in Real Estate ranking wowed SABEW Canada</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/moneysense-real-estate-coverage-wins-big/\">MoneySense real estate coverage wins big</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','pending','closed','closed','','','','','2016-04-23 01:18:51','2016-04-23 05:18:51','',0,'http://www.moneysense.ca/?p=153650',0,'post','',0),(10385,1,'2016-04-23 01:18:51','2016-04-23 05:18:51','<p><img class=\"alignleft size-full wp-image-153652\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/Screen-Shot-2016-04-22-at-6.24.18-PM.png\" alt=\"Sabew canada\" width=\"493\" height=\"206\" />Did you hear? <em>MoneySense </em><a href=\"https://twitter.com/sabewCDA/status/722935175076835329\" >won the SABEW Canada best multimedia coverage award</a> for our Best Deals in Real Estate 2015 ranking.</p>\n<p>In case you missed it, here&#8217;s our <a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\" >Best Deals in Real Estate 2016 ranking</a>—it&#8217;s even bigger and better than last year&#8217;s!</p>\n<p>Congratulations to editors <a href=\"http://www.moneysense.ca/author/mark-brown/\">Mark Brown</a>, <a href=\"http://www.moneysense.ca/author/romana-king/\">Romana King</a> and <a href=\"http://www.moneysense.ca/author/stefania-moretti/\">Stefania Di Verdi</a> for their hard work.</p>\n<p>This isn&#8217;t the first time we&#8217;ve taken home a SABEW Best in Business prize. We also won for our Best Deals in Real Estate 2014 ranking. Check out the 2015 version <a href=\"http://www.moneysense.ca/save/financial-planning/canadas-best-places-to-live-2015-overview/\" >here</a>.</p>\n<p>&nbsp;</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/moneysense-real-estate-coverage-wins-big/\">MoneySense real estate coverage wins big</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','MoneySense real estate coverage wins big','<p>Our Best Deals in Real Estate ranking wowed SABEW Canada</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/moneysense-real-estate-coverage-wins-big/\">MoneySense real estate coverage wins big</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10384-revision-v1','','','2016-04-23 01:18:51','2016-04-23 05:18:51','',10384,'http://feedwordpress.radgeek.com/?rev=f9bc8c9fb44ffaea627e3013c62f02f3',0,'revision','',0),(10386,1,'2016-04-22 17:13:31','2016-04-22 21:13:31','<p><strong>Q:</strong> How do I convince my unemployed partner to get a job? He shows no initiative and we need the money.</p>\n<p><em>— Stressed in Stratford, Ont.</em></p>\n<p><strong>A:</strong> Get ready for some tough love, says Rona Birenbaum, a Toronto-based financial planner and founder of Caring for Clients. Your first task is to sit down with the budget and show him in black and white which expenses will have to be cut sharply if he doesn’t starting earning. “Make it clear it’s a requirement of the partnership,” says Birenbaum. But also try to keep the tone even-keeled by outlining all the benefits you’ll be able to enjoy together when he returns to work. “That could mean more travel and fun activities now, as well as earlier retirement for both of you,” Birenbaum says. If neither of those options provide the necessary motivation, she suggests talking with a neutral third party present. “This will put reality on the table and allow you to raise awareness of the money issue in an impartial way.”</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/earn/careers/how-do-i-convince-my-unemployed-spouse-to-get-a-job/\">Help, my husband won&#8217;t get a job!</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Help, my husband won’t get a job!','<p>Get ready to have a frank discussion about the budget...</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/earn/careers/how-do-i-convince-my-unemployed-spouse-to-get-a-job/\">Help, my husband won&rsquo;t get a job!</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10311-revision-v1','','','2016-04-22 17:13:31','2016-04-22 21:13:31','',10311,'http://feedwordpress.radgeek.com/?rev=53131da84137513f4347ceb7704c6355',0,'revision','',0),(10387,1,'2016-04-22 13:00:25','2016-04-22 17:00:25','<p><a href=\"http://www.moneysense.ca/save/budgeting/budget-basics-how-to-pay-for-today-and-save-for-tomorrow/\"><img class=\"alignright wp-image-151666 size-medium\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Money-Fit-Lindsay-V3-300x229.jpg\" alt=\"Money Fit - Lindsay V3\" width=\"300\" height=\"229\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/03/Money-Fit-Lindsay-V3-300x229.jpg 300w, http://www.moneysense.ca/wp-content/uploads/2016/03/Money-Fit-Lindsay-V3.jpg 387w\" sizes=\"(max-width: 300px) 100vw, 300px\" /></a><span class=\"entry-content\">In our April 2016 issue of <em>MoneySense</em>, <a href=\"http://www.moneysense.ca/save/budgeting/budget-basics-how-to-pay-for-today-and-save-for-tomorrow/\" >we introduced you to Lindsay Tithecott</a>, a 29-year-old who is trying to pay down debt, build up savings and buy a larger condo. Throughout the year we’ll be giving her a financial challenge every two weeks to help her get her finances in tip top shape. Make sure to follow along! In her last challenge, we asked Lindsay to <a href=\"http://www.moneysense.ca/save/budgeting/money-fit-lindsay-are-my-fitness-classes-a-waste-of-money/\" >rethink her budget-busting fitness classes</a>. This week&#8217;s challenge involves more budget basics. </span></p>\n<h3><strong>Challenge No. 2</strong></h3>\n<p>Lindsay&#8217;s budget factors in savings as if they were an expense. This can make budgeting very confusing. So for her second challenge, we asked Lindsay to redo her budget, starting with annual disposable income and not including any savings at all.</p>\n<p>To do this, we asked her to take pay stubs from both her full-time job and her part-time job and do the following:</p>\n<p>1. Calculate what she earns gross annually from both jobs, then deduct income taxes, EI, CPP, Disability insurance payments, etc. from that amount to get her<strong> total net income.</strong></p>\n<p>2. <strong>Subtract the $2,880 RRSP contribution</strong> that her employer matches dollar for dollar at work from her net income calculated above to determine how much is left.</p>\n<h3><strong>Lindsay&#8217;s experience</strong></h3>\n<p>I&#8217;m so glad I did this challenge and the timing was great for me. I was able to refer to my 2015 tax information since I just filed my taxes. I found completing the calculations for net income, expenses and money left over for investing difficult because I have two jobs; the first has all of the normal taxes, CPP, OAS  and RRSP contributions deducted while the second is from my part time job teaching and for that job, taxes are not taken off the gross amount.</p>\n<p>Usually I try not to think about how much tax I am paying to the government, mainly because dwelling on the amount of tax I pay each year makes me sad. This method of avoidance has worked in the past, but there has always been this grey area that this challenge has has brought to light. Interestingly, it turns out that I have more money than I thought. While this is partially due to a pay increase at both jobs and project-related overtime, most of the extra income came from just running the budget numbers correctly. I even got creative and added a <a href=\"http://www.moneysense.ca/invest/how-to-figure-out-your-financial-priorities/\" >priority pyramid</a> infographic to show the numbers at a glance (see below).</p>\n<p>The numbers were clear. My net pay from both jobs is <strong>$54,483.</strong> The amount I have available yearly for saving or paying down debt is <strong>$8,353.</strong> My RRSP match is <strong>$2,880</strong> and I subtracted this from my net amount. What I have left over annually in my budget that can be used to pay down debt, rather than add to savings is <strong>$5,473.</strong></p>\n<p>What I learned was that I am not making the lower row of the pyramid–debt repayment—a priority. I&#8217;m skipping up to savings and ignoring my debt. I think I have to backtrack in my financial plan to do debt repayment first, and then move up to savings.</p>\n<p>One thing to clarify is that I did not include any annual bonus, which this year amounted to $1,500. My bonus is tied to my employers’ profit. In my career I have seen bonuses range anywhere from nothing (during the recession) to thousands of dollars, and everything in between. I prefer to keep my bonus just that—a bonus! Balancing my budget with money that may or may not get paid to me would be #moneyunfit!</p>\n<p><script id=\"infogram_0_SMDywtXA8KJzVzgR\" title=\"Lindsay Tithecott\'s Priority Pyramid\" src=\"http://e.infogr.am/js/embed.js?MBg\" type=\"text/javascript\"></script></p>\n<div style=\"padding: 8px 0; font-family: Arial!important; font-size: 13px!important; line-height: 15px!important; text-align: center; border-top: 1px solid #dadada; margin: 0 30px;\"><a style=\"color: #989898!important; text-decoration: none!important;\" href=\"https://infogr.am/SMDywtXA8KJzVzgR\" >Lindsay Tithecott&#8217;s Priority Pyramid</a><br />\n<a style=\"color: #989898!important; text-decoration: none!important;\" href=\"https://infogr.am/\" >Create your own infographics</a></div>\n<h3><strong>What the expert says</strong></h3>\n<p>&#8220;The best thing Lindsay can do with the $5,473 she has available annually is to use it all to pay down her line of credit debt,&#8221; says certified financial planner Heather Franklin. She explains how the interest rate on the personal line of credit (PLC) debt is a couple of percentage points higher than her mortgage and car loan so it needs to be brought down to zero. &#8220;A large PLC is going to haunt her until it&#8217;s eliminated,&#8221; says Franklin. &#8220;At $5,000 a year she&#8217;d have this debt eliminated in two years, which is doable for her. Franklin&#8217;s fear is that if Lindsay pays only the PLC interest annually, it will languish for years. &#8220;She&#8217;s not getting great returns in her investments so paying down the debt is still the best savings strategy available to her.&#8221;</p>\n<p>As well, Franklin would like Lindsay to add it to her savings account and use it for emergency savings. Adding the $1,500 bonus to savings would bring her emergency fund to $2,180. It&#8217;s a nice cushion for emergencies but if Lindsay absolutely needs more, she can cash in the $2,238 in the EPOCH US LARGE CAP mutual fund in her TFSA. &#8220;That fund has a very high MER and whoever sold it to her is getting a nice trailer fee from it,&#8221; says Franklin. &#8220;It&#8217;s a fund that&#8217;s performing way below its benchmark for years. She&#8217;s losing money by holding on to this fund.&#8221;</p>\n<p>The key for Lindsay is to make debt repayment a priority but also &#8220;to absolutely not add any more debt to her balance sheet,&#8221; says Franklin. &#8220;From now on, she needs to pledge to stay out of personal debt. Franklin also recommends that Lindsay shelve any new big expenses such as her furnace until she&#8217;s paid down her debt or made the decision to move to a bigger condo or stay put. &#8220;Almost all new expenses that will add to her debt will have to wait—for now,&#8221; says Franklin.</p>\n<hr />\n<p><a href=\"http://www.moneysense.ca/planning/fix-your-money-problems-and-get-moneyfit/\"><img class=\"alignleft wp-image-143076\" src=\"http://www.moneysense.ca/wp-content/uploads/2015/12/Join-the-MoneyFit-club-300x268.png\" alt=\"Join the MoneyFit club\" width=\"175\" height=\"156\" /></a></p>\n<p>Embark on your own financial makeover! It&#8217;s not as hard as it sounds. Join the Money Fit Club to curb spending, boost your earnings, lower your taxes and more!</p>\n<p>Learn to tone your money muscles all year long with our <a href=\"http://www.moneysense.ca/moneyfit-overview/\" >interactive calendar</a> and <a href=\"http://ebm.cheetahmail.com/r/regf2?a=0&amp;aid=877607326&amp;n=1\" >sign up</a> for our weekly newsletter for advice straight to your inbox.</p>\n<hr />\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/debt/when-to-prioritize-debt-repayment-over-saving/\">When to prioritize debt repayment over saving</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','When to prioritize debt repayment over saving','<p>Lindsay uses the priority pyramid to find out how much money she has to put towards debt repayment or investments</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/save/debt/when-to-prioritize-debt-repayment-over-saving/\">When to prioritize debt repayment over saving</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10313-revision-v1','','','2016-04-22 13:00:25','2016-04-22 17:00:25','',10313,'http://feedwordpress.radgeek.com/?rev=07a82007775c11020a86c2ffa2a4e227',0,'revision','',0),(10388,1,'2014-06-02 03:20:55','2014-06-02 03:20:55','Now that I\'ve reviewed the entry level Mercedes and Audi it only made sense to grab the keys to the 2014 Lexus CT 2000h for a week. While the CLA 250 and the A3 are designed to give you a sporting and moderately efficient entry to the brand, the Lexus has a slightly different mission in mind. The CT200h is not just the least expensive Lexus in America, at 42MPG it is also by far the most efficient. So how does the small Lexus hatchback stack up to the competition? Is the CT just a \"Lexus Prius\"? I\'ll answer those questions and more in this detailed review.\nStatistics powered by ChannelMeter http://channelmeter.com','2014 Lexus CT 200h Hybrid Hatchback Detailed Review and Road Test','','publish','open','open','','2014-lexus-ct-200h-hybrid-hatchback-detailed-review-and-road-test','','','2014-06-02 03:20:55','2014-06-02 03:20:55','',0,'http://www.l2ocredit.com/2014/06/02/2014-lexus-ct-200h-hybrid-hatchback-detailed-review-and-road-test/',0,'post','',0),(10389,0,'2016-04-23 02:23:45','2016-04-23 06:23:45','','2014 Lexus CT 200h Hybrid Hatchback Detailed Review and Road Test','','inherit','open','closed','','2014-lexus-ct-200h-hybrid-hatchback-detailed-review-and-road-test-2','','','2016-04-23 02:23:45','2016-04-23 06:23:45','',10388,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-lexus-ct-200h-hybrid-hatchback-detailed-review-and-road-test-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10390,0,'2016-04-23 02:23:45','2016-04-23 06:23:45','','2014 Lexus CT 200h Hybrid Hatchback Detailed Review and Road Test','','inherit','open','closed','','2014-lexus-ct-200h-hybrid-hatchback-detailed-review-and-road-test-2','','','2016-04-23 02:23:45','2016-04-23 06:23:45','',10388,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-lexus-ct-200h-hybrid-hatchback-detailed-review-and-road-test-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10391,0,'2016-04-23 02:23:45','2016-04-23 06:23:45','','2014 Lexus CT 200h Hybrid Hatchback Detailed Review and Road Test','','inherit','open','closed','','2014-lexus-ct-200h-hybrid-hatchback-detailed-review-and-road-test-3','','','2016-04-23 02:23:45','2016-04-23 06:23:45','',10388,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-lexus-ct-200h-hybrid-hatchback-detailed-review-and-road-test-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10392,1,'2011-11-13 08:07:16','2011-11-13 08:07:16','2010 Acura TL review from www.motormouth.ca','2010 Acura TL review','','publish','open','open','','2010-acura-tl-review','','','2011-11-13 08:07:16','2011-11-13 08:07:16','',0,'http://www.l2ocredit.com/2011/11/13/2010-acura-tl-review/',0,'post','',0),(10393,0,'2016-04-23 03:22:41','2016-04-23 07:22:41','','2010 Acura TL review','','inherit','open','closed','','2010-acura-tl-review-2','','','2016-04-23 03:22:41','2016-04-23 07:22:41','',10392,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2010-acura-tl-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10394,0,'2016-04-23 03:22:41','2016-04-23 07:22:41','','2010 Acura TL review','','inherit','open','closed','','2010-acura-tl-review-3','','','2016-04-23 03:22:41','2016-04-23 07:22:41','',10392,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2010-acura-tl-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10395,0,'2016-04-23 03:22:41','2016-04-23 07:22:41','','2010 Acura TL review','','inherit','open','closed','','2010-acura-tl-review-4','','','2016-04-23 03:22:41','2016-04-23 07:22:41','',10392,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2010-acura-tl-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10396,0,'2016-04-23 03:22:42','2016-04-23 07:22:42','','2010 Acura TL review','','inherit','open','closed','','2010-acura-tl-review-5','','','2016-04-23 03:22:42','2016-04-23 07:22:42','',10392,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2010-acura-tl-review-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10397,1,'2014-07-15 11:09:41','2014-07-15 11:09:41','Like Us on Facebook! \nhttps://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl\nCamerons Car Reviews Score: 4.5/5 \nPowertrain Options: 2.5 L 4-Cylinder or a 3.5 L V6 with a CVT FWD \nEngine &amp; Performance\nBASE ENGINE SIZE 2.5 L CAM TYPE Double overhead cam (DOHC)\nCYLINDERS Inline 4 \nVALVES 16\nVALVE TIMING Variable \nTORQUE 180 ft-lbs. @ 4000 rpm\nHORSEPOWER 182 hp @ 6000 rpm \nTURNING CIRCLE 36.1 ft. \nWeights and Capacities\nEPA INTERIOR VOLUME 117.3 cu.ft. \nDRAG COEFFICIENT 0.29 Cd\nCURB WEIGHT 3182 lbs. \nCARGO CAPACITY, ALL SEATS IN PLACE 15.4 cu.ft.\nFuel\nENGINE TYPE Gas \nFUEL TYPE Regular unleaded\nFUEL TANK CAPACITY 18.0 gal. \nRANGE IN MILES (CTY/HWY) 486.0/684.0 mi.\nEPA MILEAGE EST. (CTY/HWY) 27/38 mpg \nWarranty\nBASIC 3 yr./ 36000 mi. \nDRIVETRAIN 5 yr./ 60000 mi.\nROADSIDE 3 yr./ 36000 mi. \nCompetitors: Toyota Camry, Honda Accord, Ford Fusion, Chevrolet Malibu, Subaru Legacy, Mazda 6, Chrysler 200','2015 Nissan Altima Start Up and Review 2.5 L 4-Cylinder','','publish','open','open','','2015-nissan-altima-start-up-and-review-2-5-l-4-cylinder','','','2014-07-15 11:09:41','2014-07-15 11:09:41','',0,'http://www.l2ocredit.com/2014/07/15/2015-nissan-altima-start-up-and-review-2-5-l-4-cylinder/',0,'post','',0),(10398,0,'2016-04-23 03:38:55','2016-04-23 07:38:55','','2015 Nissan Altima Start Up and Review 2.5 L 4-Cylinder','','inherit','open','closed','','2015-nissan-altima-start-up-and-review-2-5-l-4-cylinder-2','','','2016-04-23 03:38:55','2016-04-23 07:38:55','',10397,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-nissan-altima-start-up-and-review-2-5-l-4-cylinder-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10399,0,'2016-04-23 03:38:55','2016-04-23 07:38:55','','2015 Nissan Altima Start Up and Review 2.5 L 4-Cylinder','','inherit','open','closed','','2015-nissan-altima-start-up-and-review-2-5-l-4-cylinder-3','','','2016-04-23 03:38:55','2016-04-23 07:38:55','',10397,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-nissan-altima-start-up-and-review-2-5-l-4-cylinder-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10400,0,'2016-04-23 03:38:56','2016-04-23 07:38:56','','2015 Nissan Altima Start Up and Review 2.5 L 4-Cylinder','','inherit','open','closed','','2015-nissan-altima-start-up-and-review-2-5-l-4-cylinder-4','','','2016-04-23 03:38:56','2016-04-23 07:38:56','',10397,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-nissan-altima-start-up-and-review-2-5-l-4-cylinder-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10401,1,'2014-06-24 11:00:02','2014-06-24 11:00:02','The midsize sedan market is teeming with enticing choices designed to suit the specific needs of today\'s car buyers. To find out which car appeals best to whom, we gathered together and compared eight popular midsize sedans, including the 2014 Toyota Camry, Honda Accord, Nissan Altima, Ford Fusion, Chevrolet Malibu, Mazda6, Kia Optima, as well as the 2015 Subaru Legacy.\n\nClick here for the complete 2014 midsize sedan comparison test:\nhttp://www.kbb.com/car-news/all-the-latest/new-midsize-sedan-car-comparison-2014/2000010836/ \n\n*Our comparison tests are different from most in that we keep the focus on comparison, not competition. We don\'t pick winners and losers because the right choice for one buyer is the wrong choice for another. Our goal here is not to tell you which car to buy, but to make it easier for you to decide which is best for you.\n\nKelley Blue Book is your source for new car reviews, auto show coverage, features, comparison tests, and technology reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb','2014 Midsize Sedan Comparison Test - Kelley Blue Book','','publish','open','open','','2014-midsize-sedan-comparison-test-kelley-blue-book','','','2014-06-24 11:00:02','2014-06-24 11:00:02','',0,'http://www.l2ocredit.com/2014/06/24/2014-midsize-sedan-comparison-test-kelley-blue-book/',0,'post','',0),(10402,0,'2016-04-23 04:03:39','2016-04-23 08:03:39','','2014 Midsize Sedan Comparison Test &#8211; Kelley Blue Book','','inherit','open','closed','','2014-midsize-sedan-comparison-test-kelley-blue-book-2','','','2016-04-23 04:03:39','2016-04-23 08:03:39','',10401,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-midsize-sedan-comparison-test-kelley-blue-book-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10403,0,'2016-04-23 04:03:39','2016-04-23 08:03:39','','2014 Midsize Sedan Comparison Test &#8211; Kelley Blue Book','','inherit','open','closed','','2014-midsize-sedan-comparison-test-kelley-blue-book-3','','','2016-04-23 04:03:39','2016-04-23 08:03:39','',10401,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-midsize-sedan-comparison-test-kelley-blue-book-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10404,0,'2016-04-23 04:03:39','2016-04-23 08:03:39','','2014 Midsize Sedan Comparison Test &#8211; Kelley Blue Book','','inherit','open','closed','','2014-midsize-sedan-comparison-test-kelley-blue-book-4','','','2016-04-23 04:03:39','2016-04-23 08:03:39','',10401,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-midsize-sedan-comparison-test-kelley-blue-book-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10405,0,'2016-04-23 04:03:40','2016-04-23 08:03:40','','2014 Midsize Sedan Comparison Test &#8211; Kelley Blue Book','','inherit','open','closed','','2014-midsize-sedan-comparison-test-kelley-blue-book-5','','','2016-04-23 04:03:40','2016-04-23 08:03:40','',10401,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-midsize-sedan-comparison-test-kelley-blue-book-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10406,0,'2016-04-23 04:03:40','2016-04-23 08:03:40','','2014 Midsize Sedan Comparison Test &#8211; Kelley Blue Book','','inherit','open','closed','','2014-midsize-sedan-comparison-test-kelley-blue-book-5','','','2016-04-23 04:03:40','2016-04-23 08:03:40','',10401,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-midsize-sedan-comparison-test-kelley-blue-book-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10407,1,'2015-03-04 21:40:44','2015-03-04 21:40:44','The bonkers McLaren P1 GTR made its official debut at the 2015 Geneva Motor Show and the British supercar maker wanted to show its latest creation with a wink and a nod to the past.\n\nhttp://www.autoguide.com/auto-news/2015/03/mclaren-p1-gtr-debuts-with-familiar-look.html\n\nSubscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. Help shop for your new car with informative car buying tips and car recall news, and be entertained with feature stories, Top 10s and car review videos.','McLaren P1 GTR - 2015 Geneva Motor Show','','publish','open','open','','mclaren-p1-gtr-2015-geneva-motor-show','','','2015-03-04 21:40:44','2015-03-04 21:40:44','',0,'http://www.l2ocredit.com/2015/03/04/mclaren-p1-gtr-2015-geneva-motor-show/',0,'post','',0),(10408,0,'2016-04-23 04:18:46','2016-04-23 08:18:46','','McLaren P1 GTR &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-p1-gtr-2015-geneva-motor-show-2','','','2016-04-23 04:18:46','2016-04-23 08:18:46','',10407,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-p1-gtr-2015-geneva-motor-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10409,0,'2016-04-23 04:18:46','2016-04-23 08:18:46','','McLaren P1 GTR &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-p1-gtr-2015-geneva-motor-show-2','','','2016-04-23 04:18:46','2016-04-23 08:18:46','',10407,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-p1-gtr-2015-geneva-motor-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10410,0,'2016-04-23 04:18:46','2016-04-23 08:18:46','','McLaren P1 GTR &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-p1-gtr-2015-geneva-motor-show-3','','','2016-04-23 04:18:46','2016-04-23 08:18:46','',10407,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-p1-gtr-2015-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10411,0,'2016-04-23 04:18:47','2016-04-23 08:18:47','','McLaren P1 GTR &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-p1-gtr-2015-geneva-motor-show-4','','','2016-04-23 04:18:47','2016-04-23 08:18:47','',10407,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-p1-gtr-2015-geneva-motor-show-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10412,0,'2016-04-23 04:18:47','2016-04-23 08:18:47','','McLaren P1 GTR &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-p1-gtr-2015-geneva-motor-show-5','','','2016-04-23 04:18:47','2016-04-23 08:18:47','',10407,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-p1-gtr-2015-geneva-motor-show-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10413,0,'2016-04-23 04:18:48','2016-04-23 08:18:48','','McLaren P1 GTR &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','mclaren-p1-gtr-2015-geneva-motor-show-6','','','2016-04-23 04:18:48','2016-04-23 08:18:48','',10407,'http://www.l2ocredit.com/wp-content/uploads/2016/04/mclaren-p1-gtr-2015-geneva-motor-show-youtube-thumbnail-4.jpg',0,'attachment','image/jpeg',0),(10414,1,'2013-05-01 00:00:14','2013-05-01 00:00:14','Lexus ES 300 h: Hybrid v Diesel. Mean Gene &amp; MotoMan take a look at the Lexus ES 300 h and debate the merits of Hybrid propulsion systems versus conventional diesel in driving MPG..\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\nhttp://www.youtube.com/motomantv\n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nWebsite - http://www.MotoMan.TV','Lexus ES 300 h: Hybrid v Diesel','','publish','open','open','','lexus-es-300-h-hybrid-v-diesel','','','2013-05-01 00:00:14','2013-05-01 00:00:14','',0,'http://www.l2ocredit.com/2013/05/01/lexus-es-300-h-hybrid-v-diesel/',0,'post','',0),(10415,0,'2016-04-23 04:50:30','2016-04-23 08:50:30','','Lexus ES 300 h: Hybrid v Diesel','','inherit','open','closed','','lexus-es-300-h-hybrid-v-diesel-2','','','2016-04-23 04:50:30','2016-04-23 08:50:30','',10414,'http://www.l2ocredit.com/wp-content/uploads/2016/04/lexus-es-300-h-hybrid-v-diesel-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10416,0,'2016-04-23 04:50:30','2016-04-23 08:50:30','','Lexus ES 300 h: Hybrid v Diesel','','inherit','open','closed','','lexus-es-300-h-hybrid-v-diesel-2','','','2016-04-23 04:50:30','2016-04-23 08:50:30','',10414,'http://www.l2ocredit.com/wp-content/uploads/2016/04/lexus-es-300-h-hybrid-v-diesel-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10417,0,'2016-04-23 04:50:30','2016-04-23 08:50:30','','Lexus ES 300 h: Hybrid v Diesel','','inherit','open','closed','','lexus-es-300-h-hybrid-v-diesel-3','','','2016-04-23 04:50:30','2016-04-23 08:50:30','',10414,'http://www.l2ocredit.com/wp-content/uploads/2016/04/lexus-es-300-h-hybrid-v-diesel-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10418,1,'2014-06-02 03:21:15','2014-06-02 03:21:15','How does the Lexus Enform system in the 2014 Lexus CT 200h hybrid stack up against the luxury competition? I explore that and more in this video.\nStatistics powered by ChannelMeter http://channelmeter.com','2014 Lexus CT 200h Hybrid Hatchback Infotainment Review','','publish','open','open','','2014-lexus-ct-200h-hybrid-hatchback-infotainment-review','','','2014-06-02 03:21:15','2014-06-02 03:21:15','',0,'http://www.l2ocredit.com/2014/06/02/2014-lexus-ct-200h-hybrid-hatchback-infotainment-review/',0,'post','',0),(10419,0,'2016-04-23 05:29:53','2016-04-23 09:29:53','','2014 Lexus CT 200h Hybrid Hatchback Infotainment Review','','inherit','open','closed','','2014-lexus-ct-200h-hybrid-hatchback-infotainment-review-2','','','2016-04-23 05:29:53','2016-04-23 09:29:53','',10418,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-lexus-ct-200h-hybrid-hatchback-infotainment-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10420,0,'2016-04-23 05:29:53','2016-04-23 09:29:53','','2014 Lexus CT 200h Hybrid Hatchback Infotainment Review','','inherit','open','closed','','2014-lexus-ct-200h-hybrid-hatchback-infotainment-review-2','','','2016-04-23 05:29:53','2016-04-23 09:29:53','',10418,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-lexus-ct-200h-hybrid-hatchback-infotainment-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10421,0,'2016-04-23 05:29:53','2016-04-23 09:29:53','','2014 Lexus CT 200h Hybrid Hatchback Infotainment Review','','inherit','open','closed','','2014-lexus-ct-200h-hybrid-hatchback-infotainment-review-3','','','2016-04-23 05:29:53','2016-04-23 09:29:53','',10418,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-lexus-ct-200h-hybrid-hatchback-infotainment-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10422,0,'2016-04-23 05:29:53','2016-04-23 09:29:53','','2014 Lexus CT 200h Hybrid Hatchback Infotainment Review','','inherit','open','closed','','2014-lexus-ct-200h-hybrid-hatchback-infotainment-review-4','','','2016-04-23 05:29:53','2016-04-23 09:29:53','',10418,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-lexus-ct-200h-hybrid-hatchback-infotainment-review-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10423,1,'2011-11-13 08:01:32','2011-11-13 08:01:32','2009 Nissan Maxima review from www.motormouth.ca','2009 Nissan Maxima review','','publish','open','open','','2009-nissan-maxima-review','','','2011-11-13 08:01:32','2011-11-13 08:01:32','',0,'http://www.l2ocredit.com/2011/11/13/2009-nissan-maxima-review/',0,'post','',0),(10424,0,'2016-04-23 06:19:31','2016-04-23 10:19:31','','2009 Nissan Maxima review','','inherit','open','closed','','2009-nissan-maxima-review-2','','','2016-04-23 06:19:31','2016-04-23 10:19:31','',10423,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-nissan-maxima-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10425,0,'2016-04-23 06:19:31','2016-04-23 10:19:31','','2009 Nissan Maxima review','','inherit','open','closed','','2009-nissan-maxima-review-3','','','2016-04-23 06:19:31','2016-04-23 10:19:31','',10423,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2009-nissan-maxima-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10426,1,'2014-07-11 11:39:30','2014-07-11 11:39:30','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nCamry XLE V6 $33,000 \nAccord Touring V6 $35,000\nIn our very ever first comparison video we take a look at the most fierce segment and took two of the most popular cars. The Midsize Sedan Segement with our match being the 2014 Toyota Camry vs the 2014 Honda Accord \nWinner: Honda Accord because of better powertrains, more technology, better styling, and a better driving experience','2014 Toyota Camry vs 2014 Honda Accord Comparison','','publish','open','open','','2014-toyota-camry-vs-2014-honda-accord-comparison','','','2014-07-11 11:39:30','2014-07-11 11:39:30','',0,'http://www.l2ocredit.com/2014/07/11/2014-toyota-camry-vs-2014-honda-accord-comparison/',0,'post','',0),(10427,0,'2016-04-23 06:38:28','2016-04-23 10:38:28','','2014 Toyota Camry vs 2014 Honda Accord Comparison','','inherit','open','closed','','2014-toyota-camry-vs-2014-honda-accord-comparison-2','','','2016-04-23 06:38:28','2016-04-23 10:38:28','',10426,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-toyota-camry-vs-2014-honda-accord-comparison-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10428,0,'2016-04-23 06:38:28','2016-04-23 10:38:28','','2014 Toyota Camry vs 2014 Honda Accord Comparison','','inherit','open','closed','','2014-toyota-camry-vs-2014-honda-accord-comparison-2','','','2016-04-23 06:38:28','2016-04-23 10:38:28','',10426,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-toyota-camry-vs-2014-honda-accord-comparison-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10429,0,'2016-04-23 06:38:28','2016-04-23 10:38:28','','2014 Toyota Camry vs 2014 Honda Accord Comparison','','inherit','open','closed','','2014-toyota-camry-vs-2014-honda-accord-comparison-3','','','2016-04-23 06:38:28','2016-04-23 10:38:28','',10426,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-toyota-camry-vs-2014-honda-accord-comparison-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10430,1,'2014-06-17 11:00:02','2014-06-17 11:00:02','The Toyota Corolla and Honda Civic have been major players in the compact car arena since before many of us were born. In this video, we uncover the character of each car so you can determine which one will make your better soul mate. \n\nFor the latest Toyota Corolla and Honda Civic pricing, reviews and information:\nCorolla- http://www.kbb.com/toyota/corolla/2014-toyota-corolla/\nCivic - http://www.kbb.com/honda/civic/2014-honda-civic/\n\nKelley Blue Book is your source for car reviews, road tests, new car launches, auto show videos and infotainment reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb','2015 Honda Civic vs. 2015 Toyota Corolla - Kelley Blue Book','','publish','open','open','','2015-honda-civic-vs-2015-toyota-corolla-kelley-blue-book','','','2014-06-17 11:00:02','2014-06-17 11:00:02','',0,'http://www.l2ocredit.com/2014/06/17/2015-honda-civic-vs-2015-toyota-corolla-kelley-blue-book/',0,'post','',0),(10431,0,'2016-04-23 06:57:03','2016-04-23 10:57:03','','2015 Honda Civic vs. 2015 Toyota Corolla &#8211; Kelley Blue Book','','inherit','open','closed','','2015-honda-civic-vs-2015-toyota-corolla-kelley-blue-book-2','','','2016-04-23 06:57:03','2016-04-23 10:57:03','',10430,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-honda-civic-vs-2015-toyota-corolla-kelley-blue-book-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10432,0,'2016-04-23 06:57:03','2016-04-23 10:57:03','','2015 Honda Civic vs. 2015 Toyota Corolla &#8211; Kelley Blue Book','','inherit','open','closed','','2015-honda-civic-vs-2015-toyota-corolla-kelley-blue-book-3','','','2016-04-23 06:57:03','2016-04-23 10:57:03','',10430,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-honda-civic-vs-2015-toyota-corolla-kelley-blue-book-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10433,0,'2016-04-23 06:57:03','2016-04-23 10:57:03','','2015 Honda Civic vs. 2015 Toyota Corolla &#8211; Kelley Blue Book','','inherit','open','closed','','2015-honda-civic-vs-2015-toyota-corolla-kelley-blue-book-4','','','2016-04-23 06:57:03','2016-04-23 10:57:03','',10430,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-honda-civic-vs-2015-toyota-corolla-kelley-blue-book-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10434,1,'2015-03-04 20:48:46','2015-03-04 20:48:46','Forget about the 911 GT3 RS also debuting in Geneva this year, the most interesting vehicle at the Porsche stand is the Cayman GT4.\n\nhttp://www.autoguide.com/auto-news/2015/03/Porsche+Cayman+GT4+Might+Be+Perfect\n\nSubscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. Help shop for your new car with informative car buying tips and car recall news, and be entertained with feature stories, Top 10s and car review videos.','2016 Porsche Cayman GT4 - 2015 Geneva Motor Show','','publish','open','open','','2016-porsche-cayman-gt4-2015-geneva-motor-show','','','2015-03-04 20:48:46','2015-03-04 20:48:46','',0,'http://www.l2ocredit.com/2015/03/04/2016-porsche-cayman-gt4-2015-geneva-motor-show/',0,'post','',0),(10435,0,'2016-04-23 07:13:13','2016-04-23 11:13:13','','2016 Porsche Cayman GT4 &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','2016-porsche-cayman-gt4-2015-geneva-motor-show-2','','','2016-04-23 07:13:13','2016-04-23 11:13:13','',10434,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-porsche-cayman-gt4-2015-geneva-motor-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10436,0,'2016-04-23 07:13:14','2016-04-23 11:13:14','','2016 Porsche Cayman GT4 &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','2016-porsche-cayman-gt4-2015-geneva-motor-show-3','','','2016-04-23 07:13:14','2016-04-23 11:13:14','',10434,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-porsche-cayman-gt4-2015-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10437,0,'2016-04-23 07:13:15','2016-04-23 11:13:15','','2016 Porsche Cayman GT4 &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','2016-porsche-cayman-gt4-2015-geneva-motor-show-4','','','2016-04-23 07:13:15','2016-04-23 11:13:15','',10434,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-porsche-cayman-gt4-2015-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10438,0,'2016-04-23 07:13:15','2016-04-23 11:13:15','','2016 Porsche Cayman GT4 &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','2016-porsche-cayman-gt4-2015-geneva-motor-show-5','','','2016-04-23 07:13:15','2016-04-23 11:13:15','',10434,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-porsche-cayman-gt4-2015-geneva-motor-show-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10439,0,'2016-04-23 07:13:15','2016-04-23 11:13:15','','2016 Porsche Cayman GT4 &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','2016-porsche-cayman-gt4-2015-geneva-motor-show-5','','','2016-04-23 07:13:15','2016-04-23 11:13:15','',10434,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-porsche-cayman-gt4-2015-geneva-motor-show-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10440,1,'2013-04-25 00:00:15','2013-04-25 00:00:15','Porsche 911 991 On The Rack with Mean Gene. Mean Gene dissects the new Porsche 991. He looks at everything from the suspension to the brakes and explains how Newton\'s Law of Motion impacts the historic engine placement of the Porsche 911.\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\nhttp://www.youtube.com/motomantv\n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nWebsite - http://www.MotoMan.TV','Porsche 911 991 On The Rack with Mean Gene','','publish','open','open','','porsche-911-991-on-the-rack-with-mean-gene','','','2013-04-25 00:00:15','2013-04-25 00:00:15','',0,'http://www.l2ocredit.com/2013/04/25/porsche-911-991-on-the-rack-with-mean-gene/',0,'post','',0),(10441,0,'2016-04-23 07:28:23','2016-04-23 11:28:23','','Porsche 911 991 On The Rack with Mean Gene','','inherit','open','closed','','porsche-911-991-on-the-rack-with-mean-gene-2','','','2016-04-23 07:28:23','2016-04-23 11:28:23','',10440,'http://www.l2ocredit.com/wp-content/uploads/2016/04/porsche-911-991-on-the-rack-with-mean-gene-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10442,0,'2016-04-23 07:28:23','2016-04-23 11:28:23','','Porsche 911 991 On The Rack with Mean Gene','','inherit','open','closed','','porsche-911-991-on-the-rack-with-mean-gene-3','','','2016-04-23 07:28:23','2016-04-23 11:28:23','',10440,'http://www.l2ocredit.com/wp-content/uploads/2016/04/porsche-911-991-on-the-rack-with-mean-gene-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10443,0,'2016-04-23 07:28:23','2016-04-23 11:28:23','','Porsche 911 991 On The Rack with Mean Gene','','inherit','open','closed','','porsche-911-991-on-the-rack-with-mean-gene-4','','','2016-04-23 07:28:23','2016-04-23 11:28:23','',10440,'http://www.l2ocredit.com/wp-content/uploads/2016/04/porsche-911-991-on-the-rack-with-mean-gene-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10444,0,'2016-04-23 07:28:24','2016-04-23 11:28:24','','Porsche 911 991 On The Rack with Mean Gene','','inherit','open','closed','','porsche-911-991-on-the-rack-with-mean-gene-5','','','2016-04-23 07:28:24','2016-04-23 11:28:24','',10440,'http://www.l2ocredit.com/wp-content/uploads/2016/04/porsche-911-991-on-the-rack-with-mean-gene-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10445,1,'2014-05-31 01:59:32','2014-05-31 01:59:32','Want to know how family friendly the most fuel efficient Lexus is? I snagged the keys to a 2014 Lexus CT 200h to find out.\nStatistics powered by ChannelMeter http://channelmeter.com','2014 / 2015 Lexus CT 200h Hybrid Hatchback Child Seat Review','','publish','open','open','','2014-2015-lexus-ct-200h-hybrid-hatchback-child-seat-review','','','2014-05-31 01:59:32','2014-05-31 01:59:32','',0,'http://www.l2ocredit.com/2014/05/31/2014-2015-lexus-ct-200h-hybrid-hatchback-child-seat-review/',0,'post','',0),(10446,0,'2016-04-23 07:47:16','2016-04-23 11:47:16','','2014 / 2015 Lexus CT 200h Hybrid Hatchback Child Seat Review','','inherit','open','closed','','2014-2015-lexus-ct-200h-hybrid-hatchback-child-seat-review-2','','','2016-04-23 07:47:16','2016-04-23 11:47:16','',10445,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-2015-lexus-ct-200h-hybrid-hatchback-child-seat-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10447,0,'2016-04-23 07:47:16','2016-04-23 11:47:16','','2014 / 2015 Lexus CT 200h Hybrid Hatchback Child Seat Review','','inherit','open','closed','','2014-2015-lexus-ct-200h-hybrid-hatchback-child-seat-review-2','','','2016-04-23 07:47:16','2016-04-23 11:47:16','',10445,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-2015-lexus-ct-200h-hybrid-hatchback-child-seat-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10448,0,'2016-04-23 07:47:16','2016-04-23 11:47:16','','2014 / 2015 Lexus CT 200h Hybrid Hatchback Child Seat Review','','inherit','open','closed','','2014-2015-lexus-ct-200h-hybrid-hatchback-child-seat-review-3','','','2016-04-23 07:47:16','2016-04-23 11:47:16','',10445,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-2015-lexus-ct-200h-hybrid-hatchback-child-seat-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10449,1,'2011-11-13 07:50:38','2011-11-13 07:50:38','2010 Kia Soul review from www.motormouth.ca','2010 Kia Soul review','','publish','open','open','','2010-kia-soul-review','','','2011-11-13 07:50:38','2011-11-13 07:50:38','',0,'http://www.l2ocredit.com/2011/11/13/2010-kia-soul-review/',0,'post','',0),(10450,0,'2016-04-23 08:40:50','2016-04-23 12:40:50','','2010 Kia Soul review','','inherit','open','closed','','2010-kia-soul-review-2','','','2016-04-23 08:40:50','2016-04-23 12:40:50','',10449,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2010-kia-soul-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10451,0,'2016-04-23 08:40:51','2016-04-23 12:40:51','','2010 Kia Soul review','','inherit','open','closed','','2010-kia-soul-review-3','','','2016-04-23 08:40:51','2016-04-23 12:40:51','',10449,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2010-kia-soul-review-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10452,1,'2014-07-10 17:51:17','2014-07-10 17:51:17','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nCamerons Car Reviews Score: 4.5/5 \nPowertrain Options: 2.0 L Turbo 4-Cylinder (Gas or Diesel), 1.8 L 4-Cylinder Turbo  \nEngine &amp; Performance\nBASE ENGINE SIZE 1.8 L \nCAM TYPE Double overhead cam (DOHC)\nCYLINDERS Inline 4 \nVALVES 16\nVALVE TIMING Variable \nTORQUE 200 ft-lbs. @ 1600 rpm\nHORSEPOWER 170 hp @ 4500 rpm \nTURNING CIRCLE 36.1 ft.\nFuel\nENGINE TYPE Gas \nFUEL TYPE Premium unleaded (recommended)\nFUEL TANK CAPACITY 14.5 gal. \nRANGE IN MILES (CTY/HWY) 333.5/478.5 mi.\nEPA MILEAGE EST. (CTY/HWY) 23/33 mpg \nWarranty\nBASIC 4 yr./ 50000 mi. \nDRIVETRAIN 4 yr./ 50000 mi.\nFREE MAINTENANCE 1 yr./ 5000 mi. \nCompetitors: Mercedes CLA and BMW 2 Series','2015 Audi A3 Start Up and Review 1.8 L Turbo 4-Cylinder','','publish','open','open','','2015-audi-a3-start-up-and-review-1-8-l-turbo-4-cylinder','','','2014-07-10 17:51:17','2014-07-10 17:51:17','',0,'http://www.l2ocredit.com/2014/07/10/2015-audi-a3-start-up-and-review-1-8-l-turbo-4-cylinder/',0,'post','',0),(10453,0,'2016-04-23 08:56:45','2016-04-23 12:56:45','','2015 Audi A3 Start Up and Review 1.8 L Turbo 4-Cylinder','','inherit','open','closed','','2015-audi-a3-start-up-and-review-1-8-l-turbo-4-cylinder-2','','','2016-04-23 08:56:45','2016-04-23 12:56:45','',10452,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-audi-a3-start-up-and-review-1-8-l-turbo-4-cylinder-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10454,0,'2016-04-23 08:56:45','2016-04-23 12:56:45','','2015 Audi A3 Start Up and Review 1.8 L Turbo 4-Cylinder','','inherit','open','closed','','2015-audi-a3-start-up-and-review-1-8-l-turbo-4-cylinder-2','','','2016-04-23 08:56:45','2016-04-23 12:56:45','',10452,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-audi-a3-start-up-and-review-1-8-l-turbo-4-cylinder-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10455,0,'2016-04-23 08:56:45','2016-04-23 12:56:45','','2015 Audi A3 Start Up and Review 1.8 L Turbo 4-Cylinder','','inherit','open','closed','','2015-audi-a3-start-up-and-review-1-8-l-turbo-4-cylinder-3','','','2016-04-23 08:56:45','2016-04-23 12:56:45','',10452,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-audi-a3-start-up-and-review-1-8-l-turbo-4-cylinder-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10456,1,'2014-06-10 11:00:02','2014-06-10 11:00:02','Although its mechanicals are more refined than revolutionized, competitors like the Nissan Sentra, Ford Focus, and Mazda3 still can\'t match the bread-and-butter goodness of a Toyota Corolla.\n\nFor the latest Toyota Corolla pricing, reviews and information:\nhttp://www.kbb.com/toyota/corolla/2014-toyota-corolla/ \n\nKelley Blue Book is your source for car reviews, road tests, new car launches, auto show coverage and infotainment reviews. Subscribe to catch all the latest Kelley Blue Book videos. http://www.youtube.com/subscription_center?add_user=kbb\n\nTo follow Zach Vlasuk on Twitter, please visit: http://www.twitter.com/zachvlasuk\n','2016 Toyota Corolla - Review and Road Test','','publish','open','open','','2016-toyota-corolla-review-and-road-test','','','2014-06-10 11:00:02','2014-06-10 11:00:02','',0,'http://www.l2ocredit.com/2014/06/10/2016-toyota-corolla-review-and-road-test/',0,'post','',0),(10457,0,'2016-04-23 09:12:07','2016-04-23 13:12:07','','2016 Toyota Corolla &#8211; Review and Road Test','','inherit','open','closed','','2016-toyota-corolla-review-and-road-test-2','','','2016-04-23 09:12:07','2016-04-23 13:12:07','',10456,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-toyota-corolla-review-and-road-test-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10458,0,'2016-04-23 09:12:07','2016-04-23 13:12:07','','2016 Toyota Corolla &#8211; Review and Road Test','','inherit','open','closed','','2016-toyota-corolla-review-and-road-test-3','','','2016-04-23 09:12:07','2016-04-23 13:12:07','',10456,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-toyota-corolla-review-and-road-test-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10459,0,'2016-04-23 09:12:07','2016-04-23 13:12:07','','2016 Toyota Corolla &#8211; Review and Road Test','','inherit','open','closed','','2016-toyota-corolla-review-and-road-test-4','','','2016-04-23 09:12:07','2016-04-23 13:12:07','',10456,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2016-toyota-corolla-review-and-road-test-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10460,1,'2015-03-04 19:55:29','2015-03-04 19:55:29','Ten years ago Bugatti unleashed the Veyron, a million dollar super car that was designed to shatter records. Today, that car officially becomes a part of history.\n\nhttp://www.autoguide.com/auto-news/2015/03/this-is-the-last-bugatti-veyron.html\n\nSubscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. Help shop for your new car with informative car buying tips and car recall news, and be entertained with feature stories, Top 10s and car review videos.','Bugatti Veyron Gran Sport Vitesse La Finale - 2015 Geneva Motor Show','','publish','open','open','','bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show','','','2015-03-04 19:55:29','2015-03-04 19:55:29','',0,'http://www.l2ocredit.com/2015/03/04/bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show/',0,'post','',0),(10461,0,'2016-04-23 09:33:13','2016-04-23 13:33:13','','Bugatti Veyron Gran Sport Vitesse La Finale &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-2','','','2016-04-23 09:33:13','2016-04-23 13:33:13','',10460,'http://www.l2ocredit.com/wp-content/uploads/2016/04/bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10462,0,'2016-04-23 09:33:13','2016-04-23 13:33:13','','Bugatti Veyron Gran Sport Vitesse La Finale &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-3','','','2016-04-23 09:33:13','2016-04-23 13:33:13','',10460,'http://www.l2ocredit.com/wp-content/uploads/2016/04/bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10463,0,'2016-04-23 09:33:13','2016-04-23 13:33:13','','Bugatti Veyron Gran Sport Vitesse La Finale &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-4','','','2016-04-23 09:33:13','2016-04-23 13:33:13','',10460,'http://www.l2ocredit.com/wp-content/uploads/2016/04/bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10464,0,'2016-04-23 09:33:14','2016-04-23 13:33:14','','Bugatti Veyron Gran Sport Vitesse La Finale &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-5','','','2016-04-23 09:33:14','2016-04-23 13:33:14','',10460,'http://www.l2ocredit.com/wp-content/uploads/2016/04/bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-youtube-thumbnail-3.jpg',0,'attachment','image/jpeg',0),(10465,0,'2016-04-23 09:33:14','2016-04-23 13:33:14','','Bugatti Veyron Gran Sport Vitesse La Finale &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-6','','','2016-04-23 09:33:14','2016-04-23 13:33:14','',10460,'http://www.l2ocredit.com/wp-content/uploads/2016/04/bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-youtube-thumbnail-4.jpg',0,'attachment','image/jpeg',0),(10466,0,'2016-04-23 09:33:14','2016-04-23 13:33:14','','Bugatti Veyron Gran Sport Vitesse La Finale &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-7','','','2016-04-23 09:33:14','2016-04-23 13:33:14','',10460,'http://www.l2ocredit.com/wp-content/uploads/2016/04/bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-youtube-thumbnail-5.jpg',0,'attachment','image/jpeg',0),(10467,0,'2016-04-23 09:33:14','2016-04-23 13:33:14','','Bugatti Veyron Gran Sport Vitesse La Finale &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-8','','','2016-04-23 09:33:14','2016-04-23 13:33:14','',10460,'http://www.l2ocredit.com/wp-content/uploads/2016/04/bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-youtube-thumbnail-6.jpg',0,'attachment','image/jpeg',0),(10468,0,'2016-04-23 09:33:14','2016-04-23 13:33:14','','Bugatti Veyron Gran Sport Vitesse La Finale &#8211; 2015 Geneva Motor Show','','inherit','open','closed','','bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-8','','','2016-04-23 09:33:14','2016-04-23 13:33:14','',10460,'http://www.l2ocredit.com/wp-content/uploads/2016/04/bugatti-veyron-gran-sport-vitesse-la-finale-2015-geneva-motor-show-youtube-thumbnail-7.jpg',0,'attachment','image/jpeg',0),(10469,1,'2014-05-29 16:57:03','2014-05-29 16:57:03','Ever wondered what a tire is made of? What layers are in a tire? Why is it a radial tire? What were bias tires anyway? Why is my tire asymmetric? What do the different layers inside a tire do? All these questions and more are answered by Cooper Tire engineer Jenny Paige. \n\nStatistics powered by ChannelMeter http://channelmeter.com','What\'s inside a tire? Tire Construction Explained - Cooper CS5','','publish','open','open','','whats-inside-a-tire-tire-construction-explained-cooper-cs5','','','2014-05-29 16:57:03','2014-05-29 16:57:03','',0,'http://www.l2ocredit.com/2014/05/29/whats-inside-a-tire-tire-construction-explained-cooper-cs5/',0,'post','',0),(10470,0,'2016-04-23 10:11:44','2016-04-23 14:11:44','','What&#8217;s inside a tire? Tire Construction Explained &#8211; Cooper CS5','','inherit','open','closed','','whats-inside-a-tire-tire-construction-explained-cooper-cs5-2','','','2016-04-23 10:11:44','2016-04-23 14:11:44','',10469,'http://www.l2ocredit.com/wp-content/uploads/2016/04/whats-inside-a-tire-tire-construction-explained-cooper-cs5-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10471,0,'2016-04-23 10:11:45','2016-04-23 14:11:45','','What&#8217;s inside a tire? Tire Construction Explained &#8211; Cooper CS5','','inherit','open','closed','','whats-inside-a-tire-tire-construction-explained-cooper-cs5-3','','','2016-04-23 10:11:45','2016-04-23 14:11:45','',10469,'http://www.l2ocredit.com/wp-content/uploads/2016/04/whats-inside-a-tire-tire-construction-explained-cooper-cs5-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10472,1,'2011-11-13 01:24:27','2011-11-13 01:24:27','2010 Mercedes GLK review from www.motormouth.ca','2010 Mercedes GLK review','','publish','open','open','','2010-mercedes-glk-review','','','2011-11-13 01:24:27','2011-11-13 01:24:27','',0,'http://www.l2ocredit.com/2011/11/13/2010-mercedes-glk-review/',0,'post','',0),(10473,0,'2016-04-23 11:16:21','2016-04-23 15:16:21','','2010 Mercedes GLK review','','inherit','open','closed','','2010-mercedes-glk-review-2','','','2016-04-23 11:16:21','2016-04-23 15:16:21','',10472,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2010-mercedes-glk-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10474,0,'2016-04-23 11:16:21','2016-04-23 15:16:21','','2010 Mercedes GLK review','','inherit','open','closed','','2010-mercedes-glk-review-2','','','2016-04-23 11:16:21','2016-04-23 15:16:21','',10472,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2010-mercedes-glk-review-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10475,1,'2014-07-10 08:22:29','2014-07-10 08:22:29','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nCamerons Car Reviews Score: 5/5  \nPowertrain Options: 2.4 L 4-Cylinder, 1.6 L Turbo 4-Cylinder, or a 2.0 L Turbo 4-Cylinder \nEngine &amp; Performance\nBASE ENGINE SIZE 2.4 L \nCAM TYPE Double overhead cam (DOHC)\nCYLINDERS Inline 4 \nVALVES 16\nVALVE TIMING Variable \nTORQUE 178 ft-lbs. @ 4000 rpm\nHORSEPOWER 185 hp @ 6000 rpm \nTURNING CIRCLE 35.8 ft.\nWeights and Capacities\nEPA INTERIOR VOLUME 122.4 cu.ft. \nCURB WEIGHT 3252 lbs.\nCARGO CAPACITY, ALL SEATS IN PLACE 16.3 cu.ft. \nWarranty\nBASIC 5 yr./ 60000 mi. \nDRIVETRAIN 10 yr./ 100000 mi. \nFuel\nENGINE TYPE Gas \nFUEL TYPE Regular unleaded\nFUEL TANK CAPACITY 18.5 gal. \nRANGE IN MILES (CTY/HWY) 462.5/684.5 mi.\nEPA MILEAGE EST. (CTY/HWY) 25/37 mpg \nCompetitors: Toyota Camry, Honda Accord, Ford Fusion, Chevrolet Malibu, Volkswagen Passat, Subaru Legacy, Mazda 6','2015 Hyundai Sonata Start Up and Review 2.4 L 4-Cylinder','','publish','open','open','','2015-hyundai-sonata-start-up-and-review-2-4-l-4-cylinder','','','2014-07-10 08:22:29','2014-07-10 08:22:29','',0,'http://www.l2ocredit.com/2014/07/10/2015-hyundai-sonata-start-up-and-review-2-4-l-4-cylinder/',0,'post','',0),(10476,0,'2016-04-23 11:31:34','2016-04-23 15:31:34','','2015 Hyundai Sonata Start Up and Review 2.4 L 4-Cylinder','','inherit','open','closed','','2015-hyundai-sonata-start-up-and-review-2-4-l-4-cylinder-2','','','2016-04-23 11:31:34','2016-04-23 15:31:34','',10475,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-hyundai-sonata-start-up-and-review-2-4-l-4-cylinder-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10477,0,'2016-04-23 11:31:35','2016-04-23 15:31:35','','2015 Hyundai Sonata Start Up and Review 2.4 L 4-Cylinder','','inherit','open','closed','','2015-hyundai-sonata-start-up-and-review-2-4-l-4-cylinder-3','','','2016-04-23 11:31:35','2016-04-23 15:31:35','',10475,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-hyundai-sonata-start-up-and-review-2-4-l-4-cylinder-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10478,1,'2014-06-07 11:00:03','2014-06-07 11:00:03','For the latest Lexus CT200h pricing, reviews and information:\nhttp://www.kbb.com/lexus/ct/2014-lexus-ct/\n\nKBB\'s brief overview of the 2014 Lexus CT200h.  \n\nKelley Blue Book is your source for car reviews, road tests, new car launches, auto show videos and infotainment reviews. Subscribe to catch all the latest Kelley Blue Book video reviews. http://www.youtube.com/subscription_center?add_user=kbb\n\nTo follow Zach Vlasuk on Twitter, please visit: http://www.twitter.com/zachvlasuk\n','2014 Lexus CT200h- KBB Quick Take','','publish','open','open','','2014-lexus-ct200h-kbb-quick-take','','','2014-06-07 11:00:03','2014-06-07 11:00:03','',0,'http://www.l2ocredit.com/2014/06/07/2014-lexus-ct200h-kbb-quick-take/',0,'post','',0),(10479,0,'2016-04-23 11:56:24','2016-04-23 15:56:24','','2014 Lexus CT200h- KBB Quick Take','','inherit','open','closed','','2014-lexus-ct200h-kbb-quick-take-2','','','2016-04-23 11:56:24','2016-04-23 15:56:24','',10478,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-lexus-ct200h-kbb-quick-take-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10480,0,'2016-04-23 11:56:24','2016-04-23 15:56:24','','2014 Lexus CT200h- KBB Quick Take','','inherit','open','closed','','2014-lexus-ct200h-kbb-quick-take-3','','','2016-04-23 11:56:24','2016-04-23 15:56:24','',10478,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2014-lexus-ct200h-kbb-quick-take-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10481,1,'2015-03-04 16:08:36','2015-03-04 16:08:36','Porsche has revealed its most track-focused cars to date, debuting the Cayman GT4 as well as the new GT3 RS model today at the Geneva Motor Show.\n\nhttp://www.autoguide.com/auto-news/2015/03/2016-porsche-gt3-rs-revealed-as-fastest-911-yet.html\n\nSubscribe\nhttp://www.youtube.com/subscription_center?add_user=AutoGuideVideo\n\nYouTube - http://www.youtube.com/user/AutoguideVideo\nFacebook - http://facebook.com/AutoGuide\nTwitter - http://twitter.com/AutoGuide\nGoogle+ - http://goo.gl/LBxsP\nWeb - http://www.AutoGuide.com\n\nAutoGuide reviews the latest new cars with test drives, car comparisons and shootouts plus coverage of breaking auto industry news, auto shows, rumors and spy photos. 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Derek Jenkins, Mazda North America Design Director invites MotoMan goes behinds the scenes at Mazda Design in Irvine, California to build four cars for SEMA 2012.\n\nMotoMan. Ordinary Car Guy. Extraordinary Adventures\nhttp://www.youtube.com/motomantv\n\nSubscribe now to experience our adventures in the car world.\nhttp://www.youtube.com/subscription_center?add_user=motomantv\n\nFacebook - http://www.facebook.com/MotoManTV\nTwitter - http://twitter.com/MotoManTV\nWebsite - http://www.MotoMan.TV','Mazda CX5 &amp; Mazda MX5 Miata Custom Build for SEMA 2012 @ Mazda Design','','publish','open','open','','mazda-cx5-mazda-mx5-miata-custom-build-for-sema-2012-mazda-design','','','2013-04-18 21:38:46','2013-04-18 21:38:46','',0,'http://www.l2ocredit.com/2013/04/18/mazda-cx5-mazda-mx5-miata-custom-build-for-sema-2012-mazda-design/',0,'post','',0),(10487,0,'2016-04-23 12:33:04','2016-04-23 16:33:04','','Mazda CX5 &amp; Mazda MX5 Miata Custom Build for SEMA 2012 @ Mazda Design','','inherit','open','closed','','mazda-cx5-mazda-mx5-miata-custom-build-for-sema-2012-mazda-design-2','','','2016-04-23 12:33:04','2016-04-23 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extreme temperatures.\nStatistics powered by ChannelMeter http://channelmeter.com','2015 Challenger, Chrysler Start Stop and EV/Hybrid battery lifetimes','','publish','open','open','','2015-challenger-chrysler-start-stop-and-evhybrid-battery-lifetimes','','','2014-05-27 01:48:58','2014-05-27 01:48:58','',0,'http://www.l2ocredit.com/2014/05/27/2015-challenger-chrysler-start-stop-and-evhybrid-battery-lifetimes/',0,'post','',0),(10492,0,'2016-04-23 13:05:19','2016-04-23 17:05:19','','2015 Challenger, Chrysler Start Stop and EV/Hybrid battery lifetimes','','inherit','open','closed','','2015-challenger-chrysler-start-stop-and-evhybrid-battery-lifetimes-2','','','2016-04-23 13:05:19','2016-04-23 17:05:19','',10491,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-challenger-chrysler-start-stop-and-evhybrid-battery-lifetimes-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10493,0,'2016-04-23 13:05:19','2016-04-23 17:05:19','','2015 Challenger, Chrysler Start Stop and EV/Hybrid 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src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/Screen-Shot-2016-04-22-at-6.24.18-PM.png\" alt=\"Sabew canada\" width=\"493\" height=\"206\" />Did you hear? <em>MoneySense </em><a href=\"https://twitter.com/sabewCDA/status/722935175076835329\" >won the SABEW Canada best multimedia coverage award</a> for our Best Deals in Real Estate 2015 ranking.</p>\n<p>In case you missed it, here&#8217;s our <a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\" >Best Deals in Real Estate 2016 ranking</a>—it&#8217;s even bigger and better than last year&#8217;s!</p>\n<p>Congratulations to editors <a href=\"http://www.moneysense.ca/author/mark-brown/\">Mark Brown</a>, <a href=\"http://www.moneysense.ca/author/romana-king/\">Romana King</a>, <a href=\"http://www.moneysense.ca/author/stefania-moretti/\">Stefania Di Verdi</a> and web producer Mike Shoss for their hard work.</p>\n<p>This isn&#8217;t the first time we&#8217;ve taken home a SABEW Best in Business prize. We also won for our Best Deals in Real Estate 2014 ranking. Check out the 2015 version <a href=\"http://www.moneysense.ca/save/financial-planning/canadas-best-places-to-live-2015-overview/\" >here</a>.</p>\n<p>&nbsp;</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/moneysense-real-estate-coverage-wins-big/\">MoneySense real estate coverage wins big</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','MoneySense real estate coverage wins big','<p>Our Best Deals in Real Estate ranking wowed SABEW Canada</p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/moneysense-real-estate-coverage-wins-big/\">MoneySense real estate coverage wins big</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10384-revision-v1','','','2016-04-23 01:18:51','2016-04-23 05:18:51','',10384,'http://feedwordpress.radgeek.com/?rev=8f5f0e8fac85d39840a031996af1cb67',0,'revision','',0),(10501,1,'2016-04-22 08:04:09','2016-04-22 12:04:09','<div itemscope=\"itemscope\" itemtype=\"http://schema.org/VideoObject\">\n\n        <meta itemprop=\"duration\" content=\"PT8M26S\" />\n        <meta itemprop=\"description\" content=\"\" />\n    \n    <div style=\"display: none;\"></div>\n\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/BrightcoveExperiences.js\"></script>\n    <script type=\"text/javascript\" src=\"http://admin.brightcove.com/js/api/SmartPlayerAPI.js\"></script>\n\n    <object id=\"myExperience4800734585001\" class=\"BrightcoveExperience\">\n        <param name=\"bgcolor\" value=\"#FFFFFF\" />\n        <param name=\"width\" value=\"640\" />\n        <param name=\"height\" value=\"360\" />\n        <param name=\"playerID\" value=\"2659807263001\" />\n        <param name=\"playerKey\" value=\"AQ~~,AAAAAyz2WOE~,aVUQ6mHrguBSAk3aprArcQ8EfouzY6bY\" />\n        <param name=\"isVid\" value=\"true\" />\n        <param name=\"isUI\" value=\"true\" />\n        <param name=\"dynamicStreaming\" value=\"true\" />\n        <param name=\"includeAPI\" value=\"true\" />\n        <param name=\"templateLoadHandler\" value=\"onTemplateLoad\" />\n        <param name=\"templateReadyHandler\" value=\"onTemplateReady\" />\n        <param name=\"@videoPlayer\" value=\"4800734585001\" />\n                <param name=\"adServerURL\" value=\"http://pubads.g.doubleclick.net/gampad/ads?sz=640x360&amp;iu=%2F7326%2Frogers.publishing%2Fmoneysense.CPGBusiness%2Fvideos&amp;ciu_szs=728x90%2C300x250&amp;impl=s&amp;gdfp_req=1&amp;env=vp&amp;output=xml_vast2&amp;ad_rule=1&amp;unviewed_position_start=1&amp;cmsid=1464\" />\n                <param name=\"linkBaseURL\" value=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\" />\n        <param name=\"autoStart\" value=\"false\" />\n        <param name=\"wmode\" value=\"transparent\" />\n    </object>\n\n</div>\n\n<script type=\"text/javascript\">\n    brightcove.createExperiences();\n</script>\n\n<p><b></b><span style=\"font-weight: 400;\">Vancouver&#8217;s real estate market is messed up. It&#8217;s really messed up. As a result it&#8217;s attracted a lot of attention. From media reports, to provincial scrutiny, to self-regulatory board actions, Canada&#8217;s most expensive real estate market is under the proverbial microscope. But what do we know for sure? Here’s a round-up of eight factors that are helping to push prices through the stratosphere in Vancouver and the lower mainland. </span></p>\n<h3><b>No. 1: Foreign buyers</b></h3>\n<p><span style=\"font-weight: 400;\">It’s not very Canadian to discuss the impact of immigration, particularly if it’s negative. But the truth is the Vancouver real estate market <em>has</em> felt the impact of foreign money—in particular, money from rich foreigners. Much of this money comes from mainland China. Also not a very Canadian thing to say. But it’s true. How do we know? Because the phenomenon has been tracked, studied and recorded—and not just in Vancouver. </span></p>\n<p>Data collected by David Ley shows how, over the last few decades, metro Vancouver has become similar to other Pacific Rim “gateway” cities, such as Hong Kong, Singapore, London and Sydney. Each of these gateway cities have rising housing costs that are fuelled by high immigration-driven population growth and foreign investors.</p>\n<p>“In every one of these cities the market is being driven by something other than owner-occupiers. Not just new immigrants, but investors, including offshore investment,” explains Ley. Through his analysis, Ley discovered that in the last 25 years, there’s been an almost 1-to-1 correlation between Vancouver’s rising real estate prices and the surge in international immigration and offshore investors to this West-coast city.</p>\n<p>Ley isn&#8217;t the only one tracking this trend. University of Waterloo geographer Markus Moos and Queen’s University planner Andrejs Skaburskis back up Ley’s findings. Both Moos and Skaburskis concede that Vancouver is an “exceptional” example of how “globalization” can affect a local housing market.</p>\n<p>The biggest contributor to these rising housing prices is that these immigrants not only arrive with great wealth, but continue to earn high incomes outside of Canada. This accumulation and access to money and its investment in Vancouver property led to a “decoupling of housing from local labour market participation,” wrote Moos and Skaburskis.</p>\n<p>Even data released by the city of Vancouver backs up the assertions by these scholars. According to district data virtually nine out of 10 newcomers in the past 20 years were born outside the country—mostly in Asia. City data also shows that many of these new property owners are “circulatory migrants”—foreigners who invest in property in Canada while working offshore.</p>\n<p>Some detractors of this data argue that rich foreigners only invest in luxury properties—purchases that don&#8217;t impact neighbourhoods (and prices) where regular, middle-class Vancouverites choose to buy homes. But that’s just not true.</p>\n<p>Ley describes the impact as a “trickle-down effect,” which occurs when rich immigrants and investors push up housing prices across the entire lower mainland real estate market. It’s a phenomenon that Andy Yan, an urban planning researcher and adjunct professor at University of British Columbia (UBC), has been documenting for years. He turned his <a href=\"http://www.slideshare.net/ayan604/ownership-patterns-of-single-family-homes-sales-on-the-west-side-neighborhoods-of-the-city-of-vancouver-a-case-study\" >data and research</a> into maps that document the growth of home prices in metro Vancouver. In the first map (below) there are virtually no properties east of Main Street listed for over $1 million.</p>\n<div id=\"attachment_153022\" style=\"width: 508px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153022\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png\" alt=\"(Andy Yan, 2014 / BTA Works)\" width=\"498\" height=\"421\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014-300x254.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2014.png 498w\" sizes=\"(max-width: 498px) 100vw, 498px\" /><p class=\"wp-caption-text\">(Andy Yan, 2014 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The second map (below) shows 2015 home prices in metro Vancouver. Notice how many of the homes east of Main Street are now priced at $1 million or more. </span></p>\n<div id=\"attachment_153024\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153024\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png\" alt=\"(Andy Yan, 2015 / BTA Works)\" width=\"529\" height=\"408\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015-300x231.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2015.png 529w\" sizes=\"(max-width: 529px) 100vw, 529px\" /><p class=\"wp-caption-text\">(Andy Yan, 2015 / BTA Works)</p></div>\n<p><span style=\"font-weight: 400;\">The final map (below) shows 2016 housing prices. Notice how the number of houses selling for over $1 million has increased dramatically. Now, the sea of red spreads past metro Vancouver and into the inner suburbs. </span></p>\n<div id=\"attachment_153026\" style=\"width: 534px\" class=\"wp-caption aligncenter\"><img class=\"size-full wp-image-153026\" src=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png\" alt=\"(Andy Yan, 2016 / BTA Works) \" width=\"524\" height=\"407\" srcset=\"http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016-300x233.png 300w, http://www.moneysense.ca/wp-content/uploads/2016/04/BTA-Works-Andy-Yan-2016.png 524w\" sizes=\"(max-width: 524px) 100vw, 524px\" /><p class=\"wp-caption-text\">(Andy Yan, 2016 / BTA Works)</p></div>\n<p>“It’s not as if you can draw a clear partition. The property values in the west side influence the prices in the east side. Demand is just deflected, for example, from Kitsilano to Main Street and Commercial Drive,” says Ley. Now, the problem extends well beyond the city limits and into the suburbs.</p>\n<p>“Some investors are buying a few houses at the same time,” states one exasperated reader. “Some of the deals are even arranged remotely from overseas. This will eventually mean that more and more people will have no choice but to look for jobs in other provinces.”</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-where-to-buy-in-canada-2016-overview/\">Canada&#8217;s best deals in real estate 2016 » </a></p>\n<h3><b>No. </b><b>2: Ineffective regulation</b></h3>\n<p><span style=\"font-weight: 400;\">But foreign buyers aren’t the only culprits in Vancouver’s messy real estate market. Fast money, unscrupulous people, and a general malaise when it comes to defining and enforcing bad conduct has taken its toll on the city. </span></p>\n<p><span style=\"font-weight: 400;\">A recent </span><a href=\"http://www.theglobeandmail.com/news/investigations/inside-a-fast-growing-bc-firm-that-has-home-sellers-crying-foul/article29578417/\" ><span style=\"font-weight: 400;\"><em>Globe and Mail</em> investigation</span></a><span style=\"font-weight: 400;\"> found that Vancouver real estate agents who were disciplined for wrongdoing faced fines and suspensions that were nothing short of a joke when compared to the hefty commissions earned on real estate transactions. The <em>Globe</em>’s report showed that of the more than 100 recent disciplinary proceedings, some confidential, the fines averaged out at $4,850. Compare this to the potential commission on a $1.78-million home—the average price paid in metro Vancouver in the first quarter of 2016—which works out to $22,500, and you can see why some agents simply consider these fines as the cost of doing business.</span></p>\n<p>What’s worse is the <em>Globe and Mail</em> investigation found that only a fraction of agents lost their licences over misconduct. Those who did receive a suspension were barred, on average, from practising for six weeks. In comparison, the Fraser Valley Real Estate Board—the private board in charge of lower mainland real estate, such as Langley and Abbotsford—is known for much stiffer penalties for realtors that breach ethics or regulations.</p>\n<p>“Some people have done some really bad things and they just get a slap on the wrist,” says Janet Mackenzie, a Vancouver regulatory affairs executive, who spoke to the <em>Globe</em>, late last year. “Having [agents] policing [agents] has shown to not be the best model.”</p>\n<p>Mackenzie actually found herself in the middle of the problem when her own real estate agent forged her signature during a condo deal a few years ago. Mackenzie lodged a complaint with the Real Estate Council of B.C. (RECBC), the self-regulating body for the province’s real estate industry. She had to wait two years before RECBC made a ruling—part of it was public and part was private. Publicly, Mackenzie was told her agent was fined $1,250 and given a four month suspension. Privately, RECBC also imposed a $10,000 fine and banned the agent from using the Multiple Listings Service for a year. But it wasn&#8217;t until the <em>Globe</em>&#8216;s investigation that Mackenzie even learned of this subsequent penalty.</p>\n<p>Then there was the recent case that involved New Coast Realty. The brokerage was home to 445 real estate agents and was run by 42-year-old Ze Yu Wu, a permanent resident who moved to Canada from China a year ago, and an unlicensed trainer who taught and encouraged his agents to low-ball and lie to potential sellers in order to earn bigger commissions re-selling the listed homes.</p>\n<blockquote><p><i><span style=\"font-weight: 400;\">In a transcript from the <a href=\"http://www.theglobeandmail.com/real-estate/vancouver/vancouver-real-estate-agents-face-weak-penalties-for-misconduct/article29549072/\" >Globe’s investigation</a>, Wu is heard saying:<br />\n</span></i><span style=\"font-weight: 400;\">“You must print out the lowest prices in the neighbourhood to show to the homeowner. It is very critical to print out low sale prices in the neighbourhood.”</span></p></blockquote>\n<p><span style=\"font-weight: 400;\">Shortly after the release of the Globe&#8217;s investigative report, RECBC swooped in to issue licence conditions on New Coast Realty that included the appointment of a new RECBC-approved broker manager, hiring a trainer that was a licensed realtor and complying with conditions imposed on the firm. Thing is, Wu got off relatively scot-free. As an unlicensed trainer (who doesn&#8217;t actually practice real estate sales) he is not bound to the regulations that are imposed on licensed real estate agents. At the heart of these regulations is the notion that a real estate agent must act in their clients’ interests or risk disciplinary action. </span></p>\n<p>Despite the transgressions, New Coast Realty is still operating. And Wu is still making money—and will, as long as realtors pay their office fees and earn a commission.</p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-vancouver-top-neighbourhoods/\">Vancouver’s top neighbourhoods » </a></p>\n<h3><b>No. 3: Re-emergence of shadow flipping</b></h3>\n<p><span style=\"font-weight: 400;\">The big reason why Wu and others push for quick home sales is because they can then turn around and resell that property to another buyer—usually at a much higher price. The agent has now earned two commissions on one property, usually within weeks of the initial sale of the home. It’s a process known as <a href=\"http://www.moneysense.ca/spend/real-estate/recent-real-estate-fraud-sparks-calls-for-change/\" >shadow flipping</a>, although it’s legally known as an assignment sale. </span></p>\n<p>An assignment sale allows the current registered buyer of a property to sell their ownership in the property to another interested buyer, even before the first sale is finalized. The use of assignment sales is most common in the arena of new build condos. It’s not uncommon for Canadian new build condo units to change ownership two, three, even four times before the condo building and its units are actually ready for occupation.</p>\n<p><span style=\"font-weight: 400;\">Here’s the rub: In most provinces in Canada, the sales document does</span><span style=\"font-weight: 400;\"> not automatically give a buyer the option to resell their rights to the property. In most provinces, an extra clause or an entirely separate contract must be completed by both the buyer and the initial seller. This helps keep all transactions and intentions totally transparent.</span></p>\n<p><span style=\"font-weight: 400;\">But this isn’t the case if you&#8217;re doing a real estate deal in B.C.’s lower mainland. In Vancouver, an assignment is part of the assumed package of rights that any seller passes onto the buyer. No other notification is needed, or given, as one </span><a href=\"http://www.theglobeandmail.com/news/national/assignment-flipping-feeding-into-speculative-real-estate-market-in-bc/article28634868/\"><span style=\"font-weight: 400;\">West Vancouver couple</span></a><span style=\"font-weight: 400;\"> learned when their recently sold home was re-listed and resold for more than $1 million more than their final sale price. </span></p>\n<p>So much for transparency.</p>\n<p>In the wake of the negative media headlines, RECBC opted to assign an advisory group to come up with deterrents for a list of questionable practices. Under current B.C. law, RECBC or other real estate boards, can fine a real estate agent a maximum of $10,000. To put this in perspective, in Alberta and Ontario the maximum fine is $25,000 for similar misconduct.</p>\n<p><span style=\"font-weight: 400;\">Still, the council’s actions might be a little too late. B.C. Premier, Christy Clark, recently promised the potential of provincial regulations that would impose tougher penalties for those that try to skirt around current and future regulations. One reason why the province may have decided to act independently of the council is that this isn’t the first time B.C.’s lower mainland has faced shadow flipping problems. In the mid-2000s, during a condo boom, assignment sales were so common that some developers put in clauses to forbid them. The rationale was that hot, frothy markets fuelled by money and speculation would drive up the price and could, potentially, create an unsustainable bubble. Not only that, but as early as </span><span style=\"font-weight: 400;\"> <a href=\"http://www.theglobeandmail.com/news/british-columbia/bc-real-estate-council-opens-shadow-flipping-review/article28711920/\" >May 2008</a>, the provincial office of the superintendent of real estate released a consumer alert that warned of the risks associated with the assignment of contracts.</span></p>\n<p><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></p>\n<h3><b>No. 4: Everything is easier with technology</b></h3>\n<p><span style=\"font-weight: 400;\">Another contributing factor is the ease with which technology has shortened the distance on what used to be a localized economic decision. These days, foreign investors don&#8217;t even need to step foot into Canada to snap up some of the most exclusive real estate in B.C.’s lower mainland. Take, for example, the December 2015 sale of the </span><a href=\"http://www.vancouversun.com/business/Priciest+Metro+Vancouver+homes+draw+buyers+from+China/10875651/story.html\" ><span style=\"font-weight: 400;\">$51.8-million Point Grey mansion</span></a><span style=\"font-weight: 400;\"> (that takes up three building lots and overlooks the ocean). The buyer was Mailin Chen, a businessman from mainland China, and it’s reported that he never even left his home in China to purchase his new Vancouver mansion. (Nor did he buy the home himself. His Vancouver-based company, Chunghwa Investment (Canada) Co. Ltd, did—a company that was incorporated in March 2010 and has an office on Howe Street in downtown Vancouver.)</span></p>\n<p><span style=\"font-weight: 400;\">While Chen’s transaction was legal and transparent, there have been reports that some brokerages and websites aren&#8217;t following the same narrow guidelines when it comes to access to listings. In mid-April of this year, </span><em><a href=\"http://globalnews.ca/news/2637687/critics-say-new-shanghai-based-website-gives-foreign-buyers-first-dibs-on-vancouver-homes/\" ><span style=\"font-weight: 400;\">Global News</span></a></em><span style=\"font-weight: 400;\"> reported that a </span><a href=\"http://www.vanfun.com/\" ><span style=\"font-weight: 400;\">Chinese-language website</span></a><span style=\"font-weight: 400;\">, owned by a company in Shanghai, allegedly pulled information from the Canadian MLS system before the information was made public. As is standard practice throughout most provinces in Canada, all new sales listings are entered into MLS, but aren’t made available to the public for 24 to 72 hours (depending on where you are in Canada). But making this information available to only a segment of the open market has raised </span><span style=\"font-weight: 400;\">concerns that</span><span style=\"font-weight: 400;\"> foreign buyers, investing in Metro Vancouver’s hot real estate market, are getting an unfair jump on new listings. Five days later, RECBC issues a notice stating that they’re looking into the transgression not just on the Vanfun.com site, but also on other similar sites. </span></p>\n<p><a href=\"http://www.moneysense.ca/spend/real-estate/best-deals-in-real-estate-2016-top-25-vancouver-neighbourhoods-to-buy-in/\">Top 25 Vancouver neighbourhoods to buy in » </a></p>\n<h3><b>No. 5: Money laundering</b></h3>\n<p><span style=\"font-weight: 400;\">Then there are the growing problems of money laundering, </span><a href=\"http://www.theprovince.com/video+tackling+money+laundering+fraud+evasion+vancouver+real+estate/11821480/story.html\" ><span style=\"font-weight: 400;\">fraud and tax evasion</span></a><span style=\"font-weight: 400;\">. </span><span style=\"font-weight: 400;\">The </span><a href=\"https://www.facebook.com/MetroVancouverResidents2016/\" ><span style=\"font-weight: 400;\">Housing Action for Local Taxpayers</span></a><span style=\"font-weight: 400;\">, an advocacy group with an aim to hold politicians accountable for housing affordability, </span><a href=\"http://www.theglobeandmail.com/news/national/vancouver-housing-market-vulnerable-to-money-laundering/article29285770/\" ><span style=\"font-weight: 400;\">says that</span></a><span style=\"font-weight: 400;\"> “houses have become opaque cash banks where funds from offshore can find nice safe places to hide—and there’s no need to show a return on the investment as the primary objective is to hide the funds from overseas tax authorities.”</span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that over the past 12 months, dozens of B.C. real estate brokerages have been caught with “significant” or “very significant” deficiencies, explains </span><em><a href=\"http://www.theglobeandmail.com/try-it-now/?articleId=27640202\"><span style=\"font-weight: 400;\">The Globe and Mail</span></a></em><span style=\"font-weight: 400;\">. The discovery was made when the Financial Transactions and Reports Analysis Centre (FINTRAC), which enforces the federal anti-money-laundering laws, decided to step up scrutiny over worries that money, primarily from China, was being laundered through Vancouver real estate. “There were concerns being raised that those in the real estate sector were not fulfilling the obligations under the act,” said FinTRAC spokesperson Darren Gibb. He added that: “The real estate sector is highly vulnerable to money laundering.” As a result of their investigation, FinTRAC found that some real estate agents were neglecting to get proper ID from clients, such as drivers’ licences or passports; failed to verify sources of money; and some brokerage firms simply didn&#8217;t report suspicious or large cash transactions, an obligation under anti-money-laundering laws.</span></p>\n<p><span style=\"font-weight: 400;\">Dan Zitting, chief product officer for Vancouver “big data” analytics firm </span><a href=\"http://www.acl.com/\"><span style=\"font-weight: 400;\">ACL</span></a><span style=\"font-weight: 400;\">, is an expert on detecting patterns of crime in vast pools of data. In recent <em>Globe and Mail</em> and <em>Vancouver Sun</em> interviews, he explained his fears of widespread fraud in B.C.’s property market. “Vancouver real estate is obviously at very high risk for being used as a transfer and holding vehicle for laundered money,” said Zitting, adding that the results of FINTRAC’s compliance review “really is quite scary, both for the stability of the housing market and the potential to support and propagate issues of organized crime.”</span></p>\n<p>The Canadian Real Estate Association (CREA), which leads industry training on anti-money-laundering compliance, retorted recently stating that though there were issues, the real problem lay with FINTRAC. CREA called the federal agency’s training webinar “clearly insufficient.” CREA also points out that to help realtors and brokerages, they invested “heavily” in hiring two staff and commissioning outside firms to help bring real estate agents up to speed. “It would be nice if FINTRAC would invest similar time and effort,” said Randall McCauley, CREA’s vice-president of government and public relations. Mr. McCauley calls it “ridiculous” to expect individual real estate agents to have the same infrastructure as banks or casinos to track clients.</p>\n<p>McCauley also points out that the basic infrastructure of the regulations shows a complete “lack of understanding” of the industry. “A huge percentage of our members help individuals sell, then buy a home within days or weeks,” McCauley said. He wonders: Why the increased scrutiny of any buyer who completes two transactions within five years?</p>\n<h3><b>No. 6: The bar is too low</b></h3>\n<p><span style=\"font-weight: 400;\">Despite the problems, people keep pouring into the city and into the Vancouver real estate industry. There are now more than 12,400 agents in the Vancouver area—up 24% from five years ago. Some say that the growth in this profession, along with the increased errors and broken regulations, are due, in part, to the low bar of entry into the field of real estate. One Re/Max realtor stated, in a recent <em>Globe and Mail</em> article, that he wasn’t surprised by all the errors and omissions (and commissions). “It’s too easy to become a realtor in British Columbia, so the level of compliance is going to be a problem,” says Keith Roy, a real estate agent who also sits on the professional-conduct committee of the Real Estate Board of Greater Vancouver (REBGV), the member-based association that represents licensed real estate agents in the area. “The No. 1 way to increase public protection is to have more than a 10-week online course to get your licence.”</span></p>\n<h3><b>No. 7: Lack of unbiased info</b></h3>\n<p><span style=\"font-weight: 400;\">Vancouver&#8217;s growing housing dilemma has put the city on the top of unaffordable lists everywhere. Recently, Demographia ranked the West-coast city as the second most unaffordable city out of 325 around the world. The only city to beat Vancouver from claiming the top spot: Hong Kong. </span></p>\n<p><span style=\"font-weight: 400;\">Part of the problem is that no one wants to <em>appear</em> to be killing the cash cow. Worse, is that reliable, unbiased information is hard to come by. In the last year, Ian Young, a reporter at the <em>South China Morning Post</em> <a href=\"http://www.theglobeandmail.com/real-estate/in-vancouver-race-undercuts-the-discussion-on-affordability/article19873510/\" >highlighted how</a> the Centre for Urban Economics and Real Estate, run by UBC business professor Tsur Somerville—the academic most often quoted in the media regarding Vancouver&#8217;s housing issues—</span><span style=\"font-weight: 400;\">receives part of its funding from developers. Turns out so do some of the city&#8217;s so-called urban think-tanks—the supposed thought-leaders on urban development. </span></p>\n<p><span style=\"font-weight: 400;\">Yet, those with no personal or professional stake in the discussion—such as <span style=\"font-weight: 400;\">Yan, <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >Elizabeth Murphy</a>, a private-sector project manager, David Wachsmuth, a former UBC urban geographer, now an urban planning assistant professor at McGill, SFU&#8217;s Andrey Pavlov and B.C’s meticulous urban geographer, </span><span style=\"font-weight: 400;\"><a href=\"http://blogs.vancouversun.com/2014/06/27/why-vancouver-housing-is-unaffordable-and-what-to-do-about-it/\" >David Ley (author of Millionaire Migrants)</a>—end up dominating headlines for the wrong reasons. When Ley released his findings last year on the impact of high immigration rates and foreign ownership have on real estate prices, </span></span>Somerville and others tossed out labels of &#8220;racist&#8221; and &#8220;xenophobic.&#8221;</p>\n<h3><b>No. 8: Vancouver wants to grow</b></h3>\n<p><span style=\"font-weight: 400;\">So, why this push for more homeowners and a greater proportion of international investment money? Because the City of Vancouver wants to grow. City personnel suggest that an increase to market residential zoning needs to expand in order to accommodate the million or more people that will settle in the city by 2041. Problem is, this estimated growth is for the entire lower mainland, with only a small fraction establishing a home in the City of Vancouver.</span></p>\n<p><a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" ><span style=\"font-weight: 400;\">Elizabeth Murphy</span></a><span style=\"font-weight: 400;\">, a private-sector project manager and former property development officer with the City of Vancouver’s Housing and Properties Department and for BC Housing, believes that the city’s rezoning and building plans are anything but transparent. She is convinced that the push for major builds, such as large condo towers, is motivated by those who will benefit financially. She sees the arguments that there is a lack of supply to be misleading and believes that the city is actually overbuilding by approximately 2,000 units every five years. The key, according to Murphy, is not more housing units, but better-suited housing units. She believes metro Vancouverites end up in a position of having to rent out units because the units built are expensive and only “serve to promote Vancouver as an investment commodity rather than a planned community.”</span></p>\n<p>Murphy is also concerned that this will have a long-lasting impact on current residents. “What <span style=\"font-weight: 400;\">most people don’t understand is that all this growth doesn’t make the city any money. On the contrary, the city has to subsidize all this growth. The development fees collected by the city only cover a small fraction, about 10%, of the actual costs of servicing the infrastructure for development and the population growth it brings. The massive development that has been completed over that last few decades has served to increase property taxes and the city’s debt,” <a href=\"http://www.vancouversun.com/business/Opinion+plan+people+profit/10939128/story.html\" >she writes</a>.</span></p>\n<p>While some growth in any city is inevitable, Murphy and other critics are trying to open up the discussion about how and what to build. “There are many options as to how growth is implemented. There are choices to be made. A concrete jungle of energy-hog glass towers with ugly and expensive monster houses is not inevitable. We can do better.”</p>\n<p><span style=\"font-weight: 400;\">Up next: How Vancouver&#8217;s unaffordable real estate market could seriously impact the future of this city.</span></p>\n<h4><a style=\"display: block; font-family: sans-serif; text-align: center; background: #425f9c; text-decoration: none; color: #fff; font-weight: bold; padding: 1em; border-radius: 6px;\" href=\"https://www.facebook.com/RKHomeOwner\" >Read more from Romana King at Home Owner on Facebook »</a></h4>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>\n','Why Vancouver real estate prices are so crazy','<p>From foreign buyers, to unscrupulous agents, here are the factors that help push prices up </p>\n<p>The post <a rel=\"nofollow\" href=\"http://www.moneysense.ca/spend/real-estate/8-factors-that-really-mess-up-vancouvers-real-estate-prices/\">Why Vancouver real estate prices are so crazy</a> appeared first on <a rel=\"nofollow\" href=\"http://www.moneysense.ca/\">MoneySense</a>.</p>','inherit','closed','closed','','10191-revision-v1','','','2016-04-22 08:04:09','2016-04-22 12:04:09','',10191,'http://feedwordpress.radgeek.com/?rev=fd9804fad817b9d05dd9217267fa0f75',0,'revision','',0),(10502,1,'2014-06-27 16:05:49','2014-06-27 16:05:49','Like Us on Facebook! https://www.facebook.com/pages/Camerons-Car-Reviews/349462695066112?ref=hl \nCamerons Car Reviews Score: 5/5 \nPowertrain Options: 2.0 L Turbo 4-Cylinder or a 2.3 Turbo 4-Cylinder FWD or AWD \n','2015 Lincoln MKC Start up and Review 2.3 L Turbo 4-Cylinder','','publish','open','open','','2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder','','','2014-06-27 16:05:49','2014-06-27 16:05:49','',0,'http://www.l2ocredit.com/2014/06/27/2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder/',0,'post','',0),(10503,0,'2016-04-23 14:27:18','2016-04-23 18:27:18','','2015 Lincoln MKC Start up and Review 2.3 L Turbo 4-Cylinder','','inherit','open','closed','','2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder-2','','','2016-04-23 14:27:18','2016-04-23 18:27:18','',10502,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10504,0,'2016-04-23 14:27:18','2016-04-23 18:27:18','','2015 Lincoln MKC Start up and Review 2.3 L Turbo 4-Cylinder','','inherit','open','closed','','2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder-2','','','2016-04-23 14:27:18','2016-04-23 18:27:18','',10502,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder-youtube-thumbnail.jpg',0,'attachment','image/jpeg',0),(10505,0,'2016-04-23 14:27:18','2016-04-23 18:27:18','','2015 Lincoln MKC Start up and Review 2.3 L Turbo 4-Cylinder','','inherit','open','closed','','2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder-3','','','2016-04-23 14:27:18','2016-04-23 18:27:18','',10502,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder-youtube-thumbnail-1.jpg',0,'attachment','image/jpeg',0),(10506,0,'2016-04-23 14:27:18','2016-04-23 18:27:18','','2015 Lincoln MKC Start up and Review 2.3 L Turbo 4-Cylinder','','inherit','open','closed','','2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder-4','','','2016-04-23 14:27:18','2016-04-23 18:27:18','',10502,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),(10507,0,'2016-04-23 14:27:18','2016-04-23 18:27:18','','2015 Lincoln MKC Start up and Review 2.3 L Turbo 4-Cylinder','','inherit','open','closed','','2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder-4','','','2016-04-23 14:27:18','2016-04-23 18:27:18','',10502,'http://www.l2ocredit.com/wp-content/uploads/2016/04/2015-lincoln-mkc-start-up-and-review-2-3-l-turbo-4-cylinder-youtube-thumbnail-2.jpg',0,'attachment','image/jpeg',0),