REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

Reply
 
Thread Tools
Old 04-20-2015, 10:59 AM   #3451
I contribute to threads in the offtopic forum
 
jasonturbo's Avatar
 
Join Date: Feb 2008
Location: North Van
Posts: 2,546
Thanked 6,242 Times in 1,076 Posts
Canadian house prices 35% overvalued, Economist magazine says - Business - CBC News

Quote:
In a survey of housing costs around the world, the Economist magazine says Canada's housing prices are 35 per cent overvalued when compared to Canadian incomes.

Against the level of Canadian rents, housing prices come in 89 per cent overvalued, according to the Economist housing index.

In calling Canadian house prices out of kilter, the Economist joins voices such as Bank of Canada governor Stephen Poloz, ratings agency Fitch and even the International Monetary Fund, in pointing out that the rise of house values is out of sync with Canadian incomes.

Of the 26 markets surveyed, the magazine found seven where housing prices are more than 25 per cent overvalued.

Belgium leads the pack, with house prices 50 per cent overvalued relative to income. But also highlighted are Australia, France, Britain and Sweden.

Too cheap to borrow
The Economist puts the blame on "ultra-loose" monetary policy. Mortgage rates are at historic lows around the world.

Cheap borrowing has encouraged consumers to jump in and buy, driving demand and pushing prices higher.

The result is a bubble, as housing prices rapidly outpace both consumer incomes and rental costs.

In Canada, housing prices have risen steeply in the past decade, with the hot markets of Toronto and Vancouver seeing increases of 7.8 per cent and 7.1 per cent respectively in the past year.

The IMF warned last week that the policies central banks had adopted to curb consumer borrowing including limited mortgage terms and stringent lending criteria for banks might not be enough to prevent bubbles.

The IMF pointed to the persistence of low growth in the face of low interest rates and said advanced economies might be dealing with the problem for some time.
Will continue to wait patiently for housing bubble to melt
Advertisement
__________________
Quote:
Originally Posted by jasonturbo
Follow me on Instagram @jasonturtle if you want to feel better about your life
jasonturbo is offline  
Reply With Quote
Old 04-20-2015, 11:50 AM   #3452
reads most threads with his pants around his ankles, especially in the Forced Induction forum.
 
Mr.HappySilp's Avatar
 
Join Date: Mar 2004
Location: Vancouver
Posts: 8,943
Thanked 1,436 Times in 725 Posts
^^ ppl have been saying that since 2008 and still no bubble.
Mr.HappySilp is online now  
Reply With Quote
This post thanked by:
Old 04-20-2015, 11:56 AM   #3453
Head of HR....have a seat on that couch
 
fliptuner's Avatar
 
Join Date: Jan 2003
Location: Coquitlam
Posts: 19,693
Thanked 12,353 Times in 3,339 Posts
2008? try 1998

Quote:
Originally Posted by Mr.C View Post
As time goes by, I am more and more convinced there's no such thing as a "good buy" in Vancouver anymore. I'd seriously rather rent and invest elsewhere.
Good buy in what sense? Cheap for the market? Profitable after 2-5 years?
__________________
feedback

Originally posted by v.b.
can we stop, my pussy hurts...
Originally posted by asian_XL
fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol
Originally posted by Fei-Ji
haha i can taste the cum in my mouth
Originally posted by FastAnna
when I was 13 I wanted to be a video hoe so bad


RSUV #7
fliptuner is offline  
Reply With Quote
This post thanked by:
Old 04-20-2015, 01:37 PM   #3454
My homepage has been set to RS
 
Join Date: May 2002
Location: Vancouver
Posts: 2,113
Thanked 1,200 Times in 478 Posts
^ try 1988
__________________
10 AMV8 6sp manual
11 Dinan S3-R 4.6 Stroker
16 Audi Q3 Technik Pkg (S Line)
Z3guy is online now  
Reply With Quote
Old 04-20-2015, 02:25 PM   #3455
My homepage has been set to RS
 
radioman's Avatar
 
Join Date: Jun 2012
Location: Vancouver
Posts: 2,442
Thanked 2,893 Times in 757 Posts
^try 1908


wait wut
radioman is offline  
Reply With Quote
Old 04-20-2015, 03:22 PM   #3456
this is the hardest n***a of all time
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 7,477
Thanked 4,424 Times in 1,775 Posts
Quote:
Originally Posted by Mr.C View Post
As time goes by, I am more and more convinced there's no such thing as a "good buy" in Vancouver anymore.
sure there is... it's "good bye" in Vancouver

__________________
Feedback
http://www.revscene.net/forums/611711-glow-1-0-0-a.html

Quote:
Greenstoner
1 rat shit ruins the whole congee
Quote:
[04-06, 11:34]radiomanI'm doing happy hour with bj#3 today
[07-04, 10:27]radiomani need just the tip
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW is offline  
Reply With Quote
This post thanked by:
Old 04-20-2015, 03:59 PM   #3457
I contribute to threads in the offtopic forum
 
jasonturbo's Avatar
 
Join Date: Feb 2008
Location: North Van
Posts: 2,546
Thanked 6,242 Times in 1,076 Posts
Quote:
Originally Posted by Mr.HappySilp View Post
^^ ppl have been saying that since 2008 and still no bubble.
The fact that real estate hasn't imploded does not mean there is no bubble, it just means the bubble has not yet popped. (If indeed there is a bubble)
__________________
Quote:
Originally Posted by jasonturbo
Follow me on Instagram @jasonturtle if you want to feel better about your life
jasonturbo is offline  
Reply With Quote
Old 04-20-2015, 04:19 PM   #3458
Say NO to blade grinders!
 
Expresso's Avatar
 
Join Date: Apr 2001
Location: Vancouver
Posts: 7,470
Thanked 970 Times in 435 Posts
^^^Just live in your Porsche
Expresso is offline  
Reply With Quote
Old 04-20-2015, 09:43 PM   #3459
Sunday drives on 3 wheels
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 7,292
Thanked 1,792 Times in 946 Posts
Quote:
Originally Posted by Expresso View Post
^^^Just live in your Porsche
You can have sex in your Porsche, but your can't track your house.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
(11-0-0) Buy/Sell rating
Christine
Shitvic
SumAznGuy is online now  
Reply With Quote
Old 04-20-2015, 10:18 PM   #3460
Captain Happy Bubble is my Homeboy
 
Join Date: Jun 2013
Location: Somewhere
Posts: 327
Thanked 552 Times in 134 Posts
Quote:
Originally Posted by SumAznGuy View Post
You can have sex in your Porsche, but your can't track your house.
Yes you can.



NKC ONE is offline  
Reply With Quote
This post thanked by:
Old 04-21-2015, 08:15 AM   #3461
I contribute to threads in the offtopic forum
 
Join Date: Nov 2004
Location: vancouver
Posts: 2,567
Thanked 344 Times in 169 Posts
haha that is awesome
blkgsr is online now  
Reply With Quote
This post thanked by:
Old 04-21-2015, 08:24 AM   #3462
Head of HR....have a seat on that couch
 
fliptuner's Avatar
 
Join Date: Jan 2003
Location: Coquitlam
Posts: 19,693
Thanked 12,353 Times in 3,339 Posts
Quote:
Originally Posted by jasonturbo View Post
The fact that real estate hasn't imploded does not mean there is no bubble, it just means the bubble has not yet popped. (If indeed there is a bubble)
dude
__________________
feedback

Originally posted by v.b.
can we stop, my pussy hurts...
Originally posted by asian_XL
fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol
Originally posted by Fei-Ji
haha i can taste the cum in my mouth
Originally posted by FastAnna
when I was 13 I wanted to be a video hoe so bad


RSUV #7
fliptuner is offline  
Reply With Quote
This post thanked by:
Old 04-21-2015, 09:06 AM   #3463
Where's my RS Christmas Lobster?!
 
heleu's Avatar
 
Join Date: Sep 2008
Location: Rmd
Posts: 825
Thanked 345 Times in 163 Posts
I don't know if this was posted before, but:

Canada?s mortgage wars hit new low as fixed rate dips to 1.49% | Financial Post

It's only for 18 months, but if my mortgage was up for renewal, I'd do it.
heleu is online now  
Reply With Quote
Old 04-21-2015, 11:36 PM   #3464
I Will not Admit my Addiction to RS
 
Gululu's Avatar
 
Join Date: Feb 2013
Location: Shaughnessy
Posts: 564
Thanked 755 Times in 209 Posts
investors not coming anymore
Gululu is offline  
Reply With Quote
This post thanked by:
Old 04-22-2015, 10:50 AM   #3465
hello
 
originalhypa's Avatar
 
Join Date: Apr 2001
Location: online
Posts: 18,336
Thanked 2,327 Times in 786 Posts
Quote:
Originally Posted by Gululu View Post
investors not coming anymore
bullshit.
There are more chinese millionaires than there are cockroaches living in multicartual's east end apartment. All they care about is that Canada has a stable banking system, and is still one of the most desirable places in the world to park your money. I know of a few realtor friends who are selling our country piece by piece to chinese investment groups. Average groups consist of 20-30 individuals who pool together their funds to buy Canadian real estate. They're not individuals buying a house in the west end. They're buying existing businesses, major developments, and whole buildings knowing that the investments will basically pay for themselves while increasing in value.
__________________
woot!
originalhypa is online now  
Reply With Quote
This post thanked by:
Old 04-22-2015, 10:52 AM   #3466
Banned (ABWS)
 
Join Date: Sep 2013
Location: Vancouver
Posts: 2,452
Thanked 2,665 Times in 960 Posts
Quote:
Originally Posted by originalhypa View Post
bullshit.
There are more chinese millionaires than there are cockroaches living in multicartual's east end apartment.

Cough cough


Gastown please, and those are bed bugs, not cockroaches!
multicartual is offline  
Reply With Quote
This post thanked by:
Old 04-22-2015, 10:55 AM   #3467
this is the hardest n***a of all time
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 7,477
Thanked 4,424 Times in 1,775 Posts
Quote:
Originally Posted by multicartual View Post
and those are bed bugs, not cockroaches!
__________________
Feedback
http://www.revscene.net/forums/showthread.php?t=611711

Quote:
Greenstoner
1 rat shit ruins the whole congee
Quote:
[04-06, 11:34]radiomanI'm doing happy hour with bj#3 today
[07-04, 10:27]radiomani need just the tip
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW is offline  
Reply With Quote
Old 04-26-2015, 09:36 PM   #3468
Need to Seek Professional Help
 
Join Date: Jan 2013
Location: Vancouver
Posts: 1,069
Thanked 246 Times in 114 Posts
What do you guys think about the Cambie Corridor developments?

I'm looking at Monarch (pre-sale). Concrete building, air conditioning, high ceiling. This is diagonally across from QE Park.

2-3 bedroom units for about $0.9-$1.1 million.

http://www.vancouversun.com/business...887/story.html
Special K is offline  
Reply With Quote
Old 04-26-2015, 10:05 PM   #3469
My homepage has been set to RS
 
Join Date: May 2002
Location: Vancouver
Posts: 2,113
Thanked 1,200 Times in 478 Posts
^ allot of money for no dirt. Great lifestyle vs property appreciation
__________________
10 AMV8 6sp manual
11 Dinan S3-R 4.6 Stroker
16 Audi Q3 Technik Pkg (S Line)
Z3guy is online now  
Reply With Quote
This post thanked by:
Old 04-27-2015, 01:58 PM   #3470
I contribute to threads in the offtopic forum
 
Join Date: Nov 2004
Location: vancouver
Posts: 2,567
Thanked 344 Times in 169 Posts
Quote:
Originally Posted by blkgsr View Post
been crunching some numbers: i've got approx $280,000 left

this is all accelerated weekly

5 year fixed at 2.44% (25 year) is $311.49, (20 year) is $368.48
5 year variable at 2% (prime - 0.85%) (25 year) is $296.70, (20 year) is $354.12

on the 25 year amortization there's approx a $3600 difference over the 5 years (approx $15 per week x 4 weeks/month x 12 months) i know that's not exactly but close enough

WHEN rates go up, in a couple years that margin closes pretty quickly....
just heard from my broker the 5 year rate is actually 2.49%, no bid deal

i rechecked all the numbers, on a 30 year amortization the term interest cost for the variable is $26,808 and the fixed is $33,303

that's a $6500 difference....is it worth it to take the risk of higher rates by going variable?????
blkgsr is online now  
Reply With Quote
Old 04-28-2015, 10:45 AM   #3471
hello
 
originalhypa's Avatar
 
Join Date: Apr 2001
Location: online
Posts: 18,336
Thanked 2,327 Times in 786 Posts
Quote:
Originally Posted by blkgsr View Post
that's a $6500 difference....is it worth it to take the risk of higher rates by going variable?????
The question is, do you think that the rates are going to change dramatically in the next 5 years?

The great thing about investing in Canada is that our banking system is globally strong. So the chances of a drastic rate increase is relatively low. It's the sort of thing you're going to have to decide whether or not you're willing to gamble.

At what point in the rate change does it start going the other way?
1/4%
1/2%
a full percent?

To be honest, there are a lot of good things happening in our economy right now. But the overall numbers are down making me think that the feds are going to keep the rates low to keep things going until resources go up again.
__________________
woot!
originalhypa is online now  
Reply With Quote
Old 04-28-2015, 11:25 AM   #3472
I contribute to threads in the offtopic forum
 
Join Date: Nov 2004
Location: vancouver
Posts: 2,567
Thanked 344 Times in 169 Posts
i've decided just to go fixed....the rates may very well stay but who knows. I'm happy with the rate i ended up with 2.49%
blkgsr is online now  
Reply With Quote
This post thanked by:
Old 04-28-2015, 12:36 PM   #3473
Where's my RS Christmas Lobster?!
 
heleu's Avatar
 
Join Date: Sep 2008
Location: Rmd
Posts: 825
Thanked 345 Times in 163 Posts
I think you made the right decision. It's really not worth losing sleep over if you are worried about it all.
heleu is online now  
Reply With Quote
Old 04-28-2015, 01:09 PM   #3474
My homepage has been set to RS
 
Join Date: May 2002
Location: Vancouver
Posts: 2,113
Thanked 1,200 Times in 478 Posts
good for you Blkgsr, I thought I was laughing when I got a 2.99% interest rate 1 year ago! haha! when I played around with the RBC calcuator I noticed when I shortened my term from 20yrs to 10yrs, obviously my pymts when up, but not by double and I noticed how much more of my bi-weekly pymts went to principal reduction vs interest.

I look at low interest rates as an opporutnity to pay off my mortage quickly more so than acutally borrowing more for a house I don't need. I need more cars!! haha!
__________________
10 AMV8 6sp manual
11 Dinan S3-R 4.6 Stroker
16 Audi Q3 Technik Pkg (S Line)
Z3guy is online now  
Reply With Quote
Old 04-28-2015, 03:11 PM   #3475
I contribute to threads in the offtopic forum
 
Join Date: Nov 2004
Location: vancouver
Posts: 2,567
Thanked 344 Times in 169 Posts
ya i went accelerated weekly on the payments....crazy how low it is now

i could absolutely kill (not payout by any means) this mortgage over the next 5 years but i'll be using it to fund travels instead....to me still worth it
blkgsr is online now  
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 08:40 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2016, vBulletin Solutions, Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net