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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.

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Old 03-16-2016, 08:22 PM   #5351
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900 for a place in yellowknife?....what in the entire fuck...Are they getting rich off the Mining sector there?
Something like that. A lot of transients as well.

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Everything including building material has to be brought in. In some places up north it costs over $20 for a case of Nestle bottled water. Something you can get for less than 4 bux at Walmart.
Not really in YK or Hay River. That's more in the communities where you'll see stupid prices for stuff. So far everything has been a few dollars more... Beer is a little bit more, pubs don't have drink specials, some fruit is more, etc. For the most part it's just all the little things are a little bit more, nothing too crazy though so far.

It used to be nuts back before they put the bridge in over the Mackenzie because there would be about a month where the ice melted so you couldn't drive across, but there was still ice flows so the ferry wasn't running... Couldn't get anything in or out of the NWT except by plane.

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Time to buy a nice 350k double wide
Hahaha, eff that. My price range was going to get me a scummy trailer, like something Ricky from Trailer Park Boys would live in. Plus I don't make much at my new position and was hesitant in case "something goes" like the furnace, roof, etc. Condo is safer in that regard for the most part. Guess what my condo fees are hahahaha.
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Old 03-16-2016, 08:24 PM   #5352
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Old 03-18-2016, 12:53 PM   #5353
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Krusty is promising to end "shadow flipping" in BC's real estate market.

Premier Christy Clark promises an end to shadow flipping in BC real estate - NEWS 1130

Premier Christy Clark says she plans to end shadow flipping in BC’s real estate market.

“Shadow flipping” happens before a sale closes, when a sale contract is flipped at a higher price by the realtor — often without the knowledge of the seller.

The process can drive the price up significantly, allowing real estate agents to make much higher commissions and also avoid paying the property transfer tax.

“We are going to require that every seller provide not just consent, but informed consent for an assignment. Second, that any profits… that accrue to the assignee automatically go back to the seller,” says Clark.

“If someone assigns the sale of their home to someone else and the person to whom it is assigned makes an additional profit on the final sale of that home, that profit will go back to the seller.”

The seller will also have to be made aware of changes in contract assignments. Clark says the changes will be implemented soon.

Clark says the practice of shadow flipping has been driven by greed. “Pure, naked greed. The way to end that shady practice for greedy people is take the profit out of it.”

The Real Estate Council is investigating the extent of the problem and what impact it might have on inflated property prices.

The premier says the council is also looking into whether double-enders in real estate should be addressed, adding it is a very complex issue. “In different markets across the province — especially in very small communities — sometimes, it’s more necessary if there are fewer realtors in the community, to move the real estate through that process.”

Finance Minister Michael de Jong and Deputy Premier Rich Coleman are set to meet with Vancouver Mayor Gregor Robertson to discuss steps to improve affordability in the city.

NDP questions timing of the announcement

BC NDP leader John Horgan says Clark’s announcement is a positive step on unethical behaviour, “but the premier could have done this a year ago.

“I’m just curious in her timing. Does it have anything to do with Laura Miller? Does it have anything to do with the fact that the NDP is leading on this issue and they’re coming behind? Or is it just that they’ve run out of liquor announcements?”

Yesterday, the NDP tabled two bills it felt would help address the issue.

The Housing Affordability Fund and Speculator Fee Act aims to create a way for government to collect information about speculators treating the housing market here purely as an investment, leaving properties empty rather than renting them out. It would collect a two per cent tax on the assessed value of the property.

The Property Transfer Tax Fairness Act looks to stop shadow flippers and international property investors who may find loopholes to avoid paying that tax.

Horgan thinks the best approach is a combination of the ideas put forward by his party yesterday and by the premier today.

“Obviously, if we can keep money in the pocket of the initial seller, that’s good news for them. What we’ve been concerned about is the loss of revenue by allowing shadow flipping to take place and not capturing that property transfer tax. If we can meld the two together, I think we’ve got a step in the right direction.”

Horgan insists what people are really concerned about is affordability. “If you can’t get into the market, if you can’t find rental accommodation — that’s a problem.”

“If you can’t get into the market at the bottom end, the top end will just keep on rising. We have a hyper-inflated market here. It’s a disincentive to companies to locate here. They can’t recruit and retain skilled workers because the housing prices are so great. We need to address it with a number of solu
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Old 03-18-2016, 02:01 PM   #5354
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So 4444, if you put say 1 million into Vancouver real estate when the thread started vs now selling values how much are you saying you'd be ahead?
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Old 03-18-2016, 02:40 PM   #5355
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So what, you sold your house for 5 million but someone made an extra million on the side?

Shadow flipping does nothing and is a waste of time. Nobody cares. Only those few that had homes jump up and profited 10000% care. Why not focus on the more important issue of affordable housing where 99% of the people living here are affected by?

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Old 03-18-2016, 04:22 PM   #5356
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The new EPIC at False Creek pricing got announced.
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Old 03-18-2016, 04:28 PM   #5357
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Old 03-18-2016, 04:43 PM   #5358
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So 4444, if you put say 1 million into Vancouver real estate when the thread started vs now selling values how much are you saying you'd be ahead?
I'd say probably not much assuming that amount of money was invested elsewhere.

In 2012 (when the thread started), USD:CAD was roughly at par (slightly higher for CAD throughout the year as a matter of fact).

My family investment fund (my parents and my 2 uncles put together their money to invest in US) bought a commercial property for 3.5M USD in Texas in mid 2013 that generates 300k in rent NNN per year, or around 1.2M in the 4yr period. They sold it earlier this year in late Jan for 6.3M. So total earning was 6.3(sold price)+1.2(NNN rent)-3.5(original investment)=4M USD gain, or at today's rate, 5.2M in CAD.

So, for the same 3.5M CAD in 2013, if we bought a house in West Side, we probably had doubled in CAD term if lucky, so 7M CAD today. Assuming we could rent it out for 5k per month (and I'd say it's generous), that's 60k per year in rent, minus roughly 10k for taxes, insurance and maintenance cost, we are looking at 7.2M CAD. 7.2-3.5=3.7M CAD gain.

My point is... open your mind a bit... it's not just Vancouver RE that's going up in value. And when it comes to investment, pick wisely.
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Old 03-18-2016, 04:57 PM   #5359
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it's so gross that 2 bed/den are under 1000 sq feet.. fuck

downtown it is what it is, but thats pretty much the standard everywhere..
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Old 03-18-2016, 05:37 PM   #5360
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it's so gross that 2 bed/den are under 1000 sq feet.. fuck

downtown it is what it is, but thats pretty much the standard everywhere..
Try imagining 4 bedroom Duplexes that are 1000 sq ft.
2 upstairs and 2 downstairs and each floor is around 500 sq ft.
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Old 03-18-2016, 05:40 PM   #5361
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it's so gross that 2 bed/den are under 1000 sq feet.. fuck

downtown it is what it is, but thats pretty much the standard everywhere..
Seems pretty standard. I seen 1 bedroom that's 300sq ft lol. There are no rooms. The living is double as a bedroom and washer and drying is under the TV.
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Old 03-20-2016, 12:15 AM   #5362
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Old 03-20-2016, 12:35 AM   #5363
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Try imagining 4 bedroom Duplexes that are 1000 sq ft.
2 upstairs and 2 downstairs and each floor is around 500 sq ft.
Why rent when you can buy? This beautifully renovated 1000 sq ft duplex home located in the up and coming Strathcona neighbourhood features a fully equipped European inspired kitchen with top of the line Kitchen-Aid stainless appliances, and 9 foot ceilings with pot lights throughout that shine brightly on the faux walnut laminate flooring. A main floor 2 bedroom suite with a separate side entrance makes this home a great potential for an income property. Open house Mar 26 2-4PM

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Old 03-20-2016, 06:44 AM   #5364
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533k for a 1 bedroom condo. What is wrong with you people.
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Old 03-20-2016, 11:08 AM   #5365
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Why rent when you can buy? This beautifully renovated 1000 sq ft duplex home located in the up and coming Strathcona neighbourhood features a fully equipped European inspired kitchen with top of the line Kitchen-Aid stainless appliances, and 9 foot ceilings with pot lights throughout that shine brightly on the faux walnut laminate flooring. A main floor 2 bedroom suite with a separate side entrance makes this home a great potential for an income property. Open house Mar 26 2-4PM

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Old 03-20-2016, 12:43 PM   #5366
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533k for a 1 bedroom condo. What is wrong with you people.
I've seen a few 1 bedrooms in YT sell for close to $540k and prices will gain to go up. There was a time a couple years ago when you could make money from buying a 1 bedroom in DT but those days are slipping away.
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Old 03-20-2016, 02:15 PM   #5367
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The lineup at epic started wednesday afternoon. $900/sqft is the ask in that area now.
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Old 03-20-2016, 02:42 PM   #5368
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Old 03-20-2016, 03:13 PM   #5369
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Old 03-20-2016, 03:34 PM   #5370
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best deal. hurry up and bai
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Old 03-20-2016, 05:49 PM   #5371
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The lineup at epic started wednesday afternoon. $900/sqft is the ask in that area now.
Let's see what is for sale.

Jr one bedroom
one bedroom plus den
2 and 3 bedrooms.

Eek. Scared to ask how big a jr one bedroom condo will be.
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Old 03-20-2016, 07:27 PM   #5372
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Let's see what is for sale.

Jr one bedroom
one bedroom plus den
2 and 3 bedrooms.

Eek. Scared to ask how big a jr one bedroom condo will be.
It's there. A massive 469 sqft LOL
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Old 03-20-2016, 07:52 PM   #5373
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Old 03-21-2016, 01:47 AM   #5374
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Everything including building material has to be brought in. In some places up north it costs over $20 for a case of Nestle bottled water. Something you can get for less than 4 bux at Walmart.
a&w managers make 6 figures though
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Old 03-21-2016, 07:51 AM   #5375
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So 4444, if you put say 1 million into Vancouver real estate when the thread started vs now selling values how much are you saying you'd be ahead?
it's almost like you don't get it at all.

you could have put $1M on black in vegas, a little extreme, but same principle
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