Developer crashes the Vision bash

Photo by Mike Tippett

Being a guy who loves a good party, I spent my Saturday night at the Vision Vancouver victory bash. It was a mad scene. Progressives aren’t used to winning so when they party, they party big. Long after Gregor gave his first speech as mayor-elect — where he promised everything from the end of homelessness to a formula for cold fusion — the party kept roaring. Even condo mogul Francesco Aquilini dropped in for an appearance. I offered my date ten bucks to ask the man about the “market benefits” of a condo speculator’s tax. She laughed and we went back to dancing. I kept the ten bucks and went home by myself.

12 Responses to “Developer crashes the Vision bash”

  1. condohype Says:

    Photo for today’s post is courtesy of Mike Tippett. He’s the founder of NowPublic and is very cool for uploading photos under Creative Commons license.

  2. jesse Says:

    “I offered my date ten bucks to ask the man about the ‘market benefits’ of a condo speculator’s tax. She laughed and we went back to dancing.”

    I don’t think she heard you. With the music and all. She was probably wondering if she would be able to touch Gregor’s face.

    Populist parties are way more fun than the fiscally conservative soirees, at least at the beginning. Ironic indeed when put beside the last 8 years’ orgy of debt. Do you believe the Hype?

  3. Sarah Says:

    Condohype, wanna go out with me?

  4. noose Says:

    The condo speculator’s tax sounds good in theory but I don’t know how it would be implemented. No clue how the city could enforce the policy. “Oh, no, my condo isn’t vacant, I’m just out of town a lot.”

  5. islander Says:

    “Speculator’s tax” sounds like every other socialist wet dream: A way redistribute money from risk-takers to losers.

    Who decides who is a speculator? Who decides what is “excess profit”?

    Nobody forces anybody to build, sell or buy property. Why can’t people just leave it at that?

  6. condohype Says:

    Islander, all taxes are redistributive by their nature. I don’t think the speculator’s tax is proposed solely as a way of making money for the government. Like a carbon tax, it aims to shift behaviour. For speculators, it’s to discourage them from leaving homes unoccupied. This is a valid objective in a city where there isn’t enough housing. The implementation is key though. As of yet, I haven’t seen anything that I think can work. But if it could work, it would be a great idea. It is so wasteful to have homes sit empty.

  7. Larry Yatkowsky Says:

    Empty thought buckets – blame it on the market. It’s a good catch all. Might be time to become a bull :>)

  8. MJ Says:

    The condo speculator’s tax sounds good in theory but I don’t know how it would be implemented.

    I thought it was just a rhetorical question … tongue in cheek.

    Or, perhaps, Condo Hype is just wishing 🙂

  9. blueskies Says:

    Did you see Westcoast Homes this weekend?

    this past weekend the Homes section was 8 total pages
    with 5 full pages in color 3 half pages and 2 quarter pages all ads….
    2 or 3 measly articles in all.

    Rennie Marketing took the back cover to flog only 3 different
    2 by Aquilini and 1…..drum roll…. for Millenium UnderWater.

    used to have six per page times 2 pages…. times have changed

  10. patriotz Says:

    As condohype says, all taxes are redistributive.

    We have capital gains taxes right now, at half the rate imposed on employment income, and exempt personal residences from them altogether. So what is inherently wrong about taxing capital gains from RE speculation at, say, the same rate as employment income? Wouldn’t it be fair to tax speculation at a higher rate than wages for that matter? Doesn’t the flipper work a lot less for the money?

    Anyway it’s beyond the power of the city government. Robertson knows this full well, and there is no way the provincial government will grant the city the power.

    it’s also a moot issue, because the boom is over and there won’t be another one for a generation.

  11. Ryan Says:

    Islander has been feeding from the McCain/Palin campaign trough it seems. ‘I know, I’ll pull out the socialist slur. That outta shake people up.’ It’s funny how solid capitalists, including real estate developers, are hard right wingers in good times, turn to ideas like ‘help’ and ‘charity’ in bad times.

    Condohype, the slur against Robertson’s goal to end homelessness is oversimplified, and I think you know it. Of course Robertson isn’t going to *end* homelessness since populations are dynamic and things are always moving. However he can, with grandiose statements, send clear messages about priorities to city staff, council and voters. What you’re missing is the translation between a political speech and policy.

  12. condohype Says:

    Ryan, thanks for the comment. My quip about Robertson is actually about the news media and how they responded to the victory speech.

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