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Tesla announced Monday it has bought $1.5 billion worth of bitcoin.


In a filing with the Securities and Exchange Commission, the company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash.”


Tesla also said it will start accepting payments in bitcoin in exchange for its products “subject to applicable laws and initially on a limited basis.” That would make Tesla the first major automaker to do so. The $1.5 billion worth of bitcoin will give Tesla liquidity in the cryptocurrency once it starts accepting it for payments.


Tesla’s move into bitcoin represents an investment of a significant percentage of its cash in the investment. The company had more than $19 billion in cash and cash equivalents on hand at the end of 2020, according to its most recent filing.


Bitcoin prices surged to new highs Monday following Tesla’s announcement, reaching a price of at least $44,200. Tesla shares were up more than 2% Monday morning. In its SEC filing, Tesla warned investors of the volatility of bitcoin’s price.
















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During a public meeting on Monday, Surrey City Council approved the measure of permitting city staff to proceed with the process of obtaining a loan of $150.6 million to fund three new major community and recreational facilities.


The long-term borrowing scheme will fully cover the construction costs of the new replacement $90-million Newton Community Centre, including the land acquisition, as well as the full costs of the $40-million City Centre Sports Complex.


Another $20.6 million will be borrowed to help cover the $50.1-million Cloverdale Sport and Ice Complex, with the remaining $29.5 million funded through pay-as-you-go city financing.


These capital projects were previously approved by city council in November 2020 as part of the 2021 five-year capital plan, which will help address growing pressures for new recreational facilities as a result of Surrey’s continued strong population growth.


In October 2020, city council approved the acquisition of 16 contiguous parcels at 6965-7005 King George Boulevard and 13511-13570 70A Avenue, forming a 7.2-acre parcel for Newton Community Centre, a new public park, and other civic uses. These parcels include the current Rona store and a number of vacant properties.


Design work on the new Newton facility, including a replacement rink for the nearby Newton Ice Arena, will begin in early 2021, and construction is targeted to begin in late 2021 for a completion in 2023.


Further north up the King George Boulevard Corridor, the City Centre Sports Complex is envisioned to be a major expansion of the Chuck Bailey Recreation Centre at 13458 107A Avenue. Much of the city-owned property is currently used as surface parking, which opens up the opportunity for an expansion without land acquisition.

When complete, it would add to the area’s recreational precinct already established by the adjacent Whalley Athletic Park and BC Lions training centre.






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Port Coquitlam is giving a break to local property owners wishing to get more out of their expensive land by building coach houses.


Mayor Brad West said he hoped giving staff rather than council the job of approving these buildings would “send a message” that these tiny houses are a permitted use when built according to city rules.

“I have a lot of trust in our staff to deal with the issues that come up — which inevitably do come up between neighbours — [to ensure they] are addressed appropriately,” West said.


Although not inexpensive to build because they require the same costly bathroom, kitchen and heating, water and ventilation as main houses (and fewer cheaper bedrooms), coach houses have appeal for single family property owners seeking to get more use of their land, either by renting out the space or using them as living quarters for extended family members.


Port Coquitlam, which has approved 14 development permits, with 10 already built and another 10 under review, has permitted them in eligible single family lots through a streamlined Development Permit process.


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Residential and land sales so far this year in the city of Vancouver exceed annual numbers for 2018 and 2019. These are numbers from January to November 2020, and sales in December have yet to be counted.


Sales in 2020 so far from January to November exceed the whole of 2019, meaning 12 months of the year, in Vancouver, which numbered 7,357. Year-to-date sales also surpass the whole of 2018 in Vancouver, which came to 7,285. The same is happening on a regional level.


The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,044,000. This represents a 5.8 per cent increase over November 2019.


Attached home sales in November 2020 totalled 632, a 40.1 per cent increase compared to the 451 sales in November 2019. The benchmark price of an attached home is $814,800. This represents a 5.6 per cent increase from November 2019.


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Metro Vancouver home sales hit 3,047 in August at a benchmark price of $1.04 million, as the housing market continued its recovery from the COVID-19 pandemic.


The number of homes sold last month was nearly 20 per cent higher than the 10-year average for August, although there was a slight decrease from the 3,128 homes sold in July, The Real Estate Board of Greater Vancouver said on Wednesday.


The benchmark price in August was 5.3 per cent higher than August 2019 and 0.7 per cent higher than July for the Vancouver area, said the board, which covers Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver and Whistler.


Board chairwoman Colette Gerber said the higher-than-average sales were driven by people who put their plans on hold in the spring, when home viewings were locked down to slow the spread of COVID-19. “Low interest rates and limited overall supply of homes for sale are creating competition in today's housing market,” Gerber added in a statement.


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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.