Mayor’s house has sold for asking - Frances Bula

The latest on our Mayor's housing saga is that his Cambie area house has not only sold... but sold for the asking price, at least according to this from Frances Bula's blog:

Okay, this is Friday fluff, but whatever. I feel I must contribute to the ongoing deep investigations into Mayor Gregor Robertson’s change of abode by reporting that his Douglas Park-area house has apparently sold, for the asking price of whatever it was, $1.95 million or something...

No one seems to see Robertson’s move, from a single-family house near Emily Carr elementary in central Vancouver to a smaller place in Kits near the beach, as symbolic of the prototypical Vancouver downsizing. Instead, it seems to have turned into massive theory-building about how it has something to do with the Point Grey bike lane. Or his federal-election ambitions. Or something.

Readers of this blog know we have focused around the former of those two angles to this story.  The latter we touched upon Wednesday when we hilighted this Georgia Straight story:

What's intriguing about the move is that Robertson now lives much farther away from his workplace at Vancouver City Hall.

Normally, cyclists like to live closer to the office.

Perhaps this suggests there could be federal political implications for Robertson, who is sometimes viewed as a future candidate for the Liberal Party of Canada.

His old residence is in the proposed new riding of Vancouver-Granville, which is being carved out of parts of other ridings in the city. There is no MP for this riding yet.

His new home is likely in Vancouver Quadra, which is represented by Liberal MP Joyce Murray. That's because most of York Avenue is west of Arbutus Street, which is the boundary for the riding. East of Arbutus is within Hedy Fry's riding of Vancouver Centre.

Murray ran against Justin Trudeau in this year’s federal Liberal leadership race.

Whoever becomes the Liberal candidate in Vancouver Quadra is likely a shoo-in to get elected to Parliament.

Could Robertson be planning a challenge against Murray for the Liberal nomination after he wins a third term as mayor in 2014? Stay tuned.

In case you missed it, the Georgia Straight did follow up on this story.

 In an article titled Mayor Gregor Robertson says he can't imagine seeking a Liberal nomination in Vancouver Quadra, the Straight reported:

The Mayor of Vancouver says his decision to sell his house and move west has nothing to do with federal politics.

In a scrum with reporters at the corner of Yew Street and West 4th Avenue, Gregor Robertson said he intends on remaining mayor as long as the citizens of Vancouver keep electing him to that position.

When the Straight asked if he would categorically rule out running for Parliament in the next federal election, he replied: “I can’t imagine that happening right now. As I’ve said, I’m looking at running for a third term as mayor.”

He also said: "We have a duly elected MP in Vancouver Quadra [Joyce Murray] who serves the city well."

The picture above was taken by the Straight as part of the media scrum that lead to the Straight's follow up. Looks like the media and our Mayor were having a cordial, folksy chat.

But there was a disturbing development affecting some of the very media coverage on this story that seems to have gone unnoticed by the esteemed members of our local fourth estate.

We're still trying to track down some information about it. We may have more for you Sunday afternoon.

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Vancouver Mayor responds to yesterday's post - Updated: media speculating on Mayor's new home.

See end of post for update on media speculation about Mayor's new digs.

Seems our post yesterday about Gregor Robertson, the Mayor of Vancouver, putting his home up for sale created a bit of a stir. Several newspapers have picked up on the story this afternoon including the Province and MetroNews. From the Georgia Straight newspaper:

Mayor Gregor Robertson's office has issued a statement after a local blogger revealed that his home was for sale.

In a post entitled “Guess who’s trying to cash out of the real estate market in Vancouver?”, the Whispers from the Village on the Edge of the Rainforest website provided the listing information for the mayor’s six-bedroom and four-bathroom residence at 912 West 23rd Avenue.

It’s being advertised for $1.95 million.

“So it begs the question, if even the Mayor of Vancouver is bailing on the Vancouver real estate market, has the slide begun in earnest?” the blog cheekily declared.

Responding to media inquiries, the mayor’s office released a statement saying the family has moved farther west, to Kitsilano.

“The mayor’s family is selling their home and downsizing now that their kids have graduated high school,” reads the statement. They’ve bought a new home within a block of York Avenue in Kitsilano, but the location isn’t being disclosed for “security reasons.”

Apparently the revelation of the sale has triggered a whole series of political questions. According to the press statement:

“In recent weeks the Mayor apprised senior staff, including the City Solicitor, of this property transaction and they were requested to provide advice and a legal opinion on any possible conflict that the Mayor might be in with regard to future decisions of Council related to the Point Grey/Cornwall bike corridor. The City Solicitor has informed the Mayor that there is no legal conflict with voting on matters related to the Point Grey Cornwall bike and pedestrian safety upgrades at this time.”

The Georgia Straight wonders if the move is part of a broader set of political intrigue:

What's intriguing about the move is that Robertson now lives much farther away from his workplace at Vancouver City Hall.

Normally, cyclists like to live closer to the office.

Perhaps this suggests there could be federal political implications for Robertson, who is sometimes viewed as a future candidate for the Liberal Party of Canada.

His old residence is in the proposed new riding of Vancouver-Granville, which is being carved out of parts of other ridings in the city. There is no MP for this riding yet.

His new home is likely in Vancouver Quadra, which is represented by Liberal MP Joyce Murray. That's because most of York Avenue is west of Arbutus Street, which is the boundary for the riding. East of Arbutus is within Hedy Fry's riding of Vancouver Centre.

Murray ran against Justin Trudeau in this year’s federal Liberal leadership race.

Whoever becomes the Liberal candidate in Vancouver Quadra is likely a shoo-in to get elected to Parliament.

Could Robertson be planning a challenge against Murray for the Liberal nomination after he wins a third term as mayor in 2014? Stay tuned.

Oh my.  Did we start something?

So what do you think.  Is it simple downsizing? Capitalizing on bubble profits? Or a move borne of broader political considerations?

Update

The media seems to be all abuzz with the Mayor's new home.  And with the Mayor's press release declining to release the location of his new home for 'security reasons', the frenzy has only intensified.

Let's face it... the Mayor's address is public knowledge on nomination forms, why the secrecy now? Is it because of the bike lane proposal along York in Kitsilano... just steps away from the Mayor's new digs?

This just in on twitter:

BIV is reporting that the new digs are (XXXX - address removed) on Stephens Street:

From the realtor description:

Show-stopping ocean and mountain views abound from this outstanding, beautifully designed and renovated ½ duplex tucked away on a quiet street in Kitsilano within ½ block of the beach. The home of an award winning interior designer that has graced the pages of many prestigious design publications, this property has just hit the news stands in the special interest Canadian House and Home 2008 ‘Makeover Issue". The unique multi-level flooplan offers 2 bedrooms, 2½ baths, den, office and 3 large ocean view decks. Every detail was masterfully considered in the extensive renovation. Gorgeous quality finishes include kitchen with professional grade stainless steel appliances, hardwood floors, new bathrooms with limestone, porcelain and mosaic tiles, steam shower and heated floors, built-in speaker system, 42” TV with B/I surround sound, built-in storage, and gorgeous designer lighting and fixtures. Fabulous outdoor living spaces include 3 gorgeous view decks (one with gas BBQ hook-up and over-head mounted gas heater) and the privately set Italian style garden with a covered spa hot tub area. This home has ample heated storage with B/I wine storage and a single car attached garage. A stunning home and an absolute must see!

(google streets image of house removed)

We're sure the neighbours are thrilled. You can read BIV's story here.

Follow up post: July 11, 2013 - Housegate: When did the Mayor buy and when did he know he would buy there?

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Home Builders plead for Flaherty to make housing affordable. Don't worry, the process to create it is well under way.

Check out the tweet above sent out by CKNW this afternoon to promote a segment on one of Vancouver's foremost talk radio stations.

You have to marvel at how the mainstream media is completely on the 'bursting' bandwagon these days. No wonder sales are stagnating with these types of media stories. One can only imagine poor Bob Rennie positively tic-twitching up a storm at these developments.

Meanwhile the offensive to try and sway Federal Finance Minister Jim Flaherty into backing off on the recent mortgage changes has begun.

Peter Simpson, president and CEO of the Greater Vancouver Home Builders’ Association, was using the Georgia Straight newspaper today as the vehicle for his efforts.

In a piece titled "Finance Minister Jim Flaherty may intervene in amortization period for home mortgages", an attempt is made to create the impression that Flaherty is closely monitoring the situation and he will review what impact the new amortization period is having... with an eye to raising amortizations again. Simpson says:

“I hope he looks at markets where affordability is already an issue, like Vancouver."

To Simpson the dreadful real estate market is of major concern.

Builders are trying to rationalize that during the summer months, home sales traditionally slow down. But this summer's sales have been horrendous. And there is valid concern that if the monthly sales volume continues to tank after the Labour Day weekend, the situation will become dire for home builders.

And so Simpson is trying to frame the issue as an economic threat for the government.

"The real threat to the economy is if a real-estate slowdown leads to a sharp reduction in housing starts. That’s because new-home construction stimulates the sale of appliances, carpets, and other products. For every housing start, there are 2.8 person years of employment that are create.That’s direct and indirect jobs.”

Simpson is hoping to create public pressure on Flaherty and the prime minister so that they will have to assess whether to take action.

“If it continues to fall, they’re going to have to take a good hard look at what their actions have caused — and be prepared to make some adjustments. I don’t know what those adjustments are.”

What he's hoping for is that the government will go back to increasing the amortization periods for CMHC insurance.

And it just goes to show the level to which so many have become addicted to the crack cocaine of easy credit.

The problem is Flaherty and the Conservatives know all too well that they cannot turn back.

The easing that began when amortizations were originally raised from 25 to 30 then 35 and finally 40 years were an attempt to get us through a financial crisis that was supposed to be over by now.

The average recession lasts 5 years, max.

But this isn't your average recession.

And our real estate bubble wasn't created out of economic growth and the spinoffs of increased jobs and higher incomes.

Our current state of affairs were created with debt. And that debt has reached outrageous, unsustainable levels.

The latest changes to the rules governing mortgage were made when Flaherty returned from Europe and got a glimpse of how serious the world economic situation is.And no amount of petty, partisan media ploys is going to move the government on this issue.

Simpson decries the changes and pleads "affordability" are the reason government should restore the real estate liquidity punch bowl.

The good news for Simpson is that a collapsing real estate market means the wise developers (those not caught flat-footed by the storm that is coming) will be able to pick up properties at massive discounts soon.

And there is no better way of building "affordable" housing than by having initial real estate costs plummet.

See Peter? Problem solved.

But I don't think that's going to do it for Mr. Simpson. Somehow I suspect Peter is actually more concerned about asset price-protection than he is about seeing "affordability" come into play.

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