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 04-27-2016, 01:01 PM   #5901
Rs has made me the woman i am today!
 
Join Date: Apr 2001
Location: Vancouver
Posts: 4,099
Thanked 1,586 Times in 721 Posts
CMHC is finally stating that the Vancouver market for detached homes is detached from fundamentals (no pun intended):

https://www.cmhc-schl.gc.ca/en/corp/...04-27-1200.cfm
Advertisement
Tapioca is offline  
Reply With Quote
Old 04-27-2016, 01:22 PM   #5902
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: 8,950
Thanked 1,439 Times in 726 Posts
Quote:
Originally Posted by dat_steve View Post
curious, where do you get a condo for 270k?
Pre purchase my unit for 295k went up to around 350k now @@
Mr.HappySilp is offline  
Reply With Quote
Old 04-27-2016, 03:01 PM   #5903
Hypa owned my ass at least once
 
westopher's Avatar
 
Join Date: Apr 2011
Location: vancouver
Posts: 6,530
Thanked 16,676 Times in 3,593 Posts
Yep. Mine was about 335 up to about 390+ now. 3 months from move in date as of today!
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever View Post
Westopher is correct.
westopher is offline  
Reply With Quote
Old 04-27-2016, 03:03 PM   #5904
My dinner reheated before my turbo spooled
 
dat_steve's Avatar
 
Join Date: Jun 2006
Location: Vancouver
Posts: 1,797
Thanked 790 Times in 336 Posts
tempted at all to take a 30k payday an run for the hills? Literally, you know, since you can buy back in and all. lol
dat_steve is offline  
Reply With Quote
Old 04-27-2016, 03:24 PM   #5905
y'all better put some respeck on my name
 
Harvey Specter's Avatar
 
Join Date: Dec 2002
Location: Vancouver
Posts: 17,408
Thanked 7,176 Times in 1,914 Posts
I still believe the DT condo market is undervalued and will continue to grow but there will be a time in the near future when condos will be overvalued like homes.
Harvey Specter is offline  
Reply With Quote
Old 04-27-2016, 03:26 PM   #5906
this is the hardest n***a of all time
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 7,486
Thanked 4,442 Times in 1,778 Posts
couldn't you offload, take the $ and run and then look for a slightly older condo in decent shape at a lower price? i assume condos a few years old would be cheaper?
__________________
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 04-27-2016, 03:41 PM   #5907
Hypa owned my ass at least once
 
westopher's Avatar
 
Join Date: Apr 2011
Location: vancouver
Posts: 6,530
Thanked 16,676 Times in 3,593 Posts
I only want money so I can get the things I want, so giving up what I want for money doesn't make sense.
Living somewhere I don't love with 40-50k extra in my bank account will not add to my quality of life.
This is my biggest gripe in this city, is that all I ever hear anyone talk about, is investing and money, and everybody talks about it like they know what the fuck they are talking about. People should worry more about what that money can do for their quality of life instead of being willing to sacrifice enjoyment for more money. Its the most widespread addiction I see.
*edit not trying to totally sound off at you about the question, as its totally legit, but it just brings up a gripe I have with most people I meet on a daily basis.
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever View Post
Westopher is correct.
westopher is offline  
Reply With Quote
This post thanked by:
Old 04-27-2016, 03:41 PM   #5908
y'all better put some respeck on my name
 
Harvey Specter's Avatar
 
Join Date: Dec 2002
Location: Vancouver
Posts: 17,408
Thanked 7,176 Times in 1,914 Posts
Older condos are going up as well plus the strata might be higher and you have to be concerned about future repairs with older buildings.
Harvey Specter is offline  
Reply With Quote
This post thanked by:
Old 04-27-2016, 03:47 PM   #5909
Revscene.net has a homepage?!
 
yameen's Avatar
 
Join Date: Jun 2002
Location: Vancity
Posts: 1,285
Thanked 127 Times in 47 Posts
do you guys think the burquitlam area will start to boom as well? they currently finished a condo near lougheed mall. i don't know if i want to live so far out though but if that area is going to be developed then i wouldn't mind.

i think i saw somewhere in the previous pages, should i buy presale or once it's completed?
yameen is offline  
Reply With Quote
Old 04-27-2016, 03:54 PM   #5910
Head of HR....have a seat on that couch
 
fliptuner's Avatar
 
Join Date: Jan 2003
Location: Coquitlam
Posts: 19,702
Thanked 12,378 Times in 3,344 Posts
It already is. Compare it to what it was 5 years ago.



How long do you guys think the market will continue to rise at this pace (let's say 10-20%, annually)?
If and when it flattens out, what do you think will be the cause(s) (interest rates, gov't regulation, etc.)?
__________________
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

Last edited by fliptuner; 04-27-2016 at 04:03 PM.
fliptuner is online now  
Reply With Quote
Old 04-27-2016, 04:32 PM   #5911
I contribute to threads in the offtopic forum
 
Hehe's Avatar
 
Join Date: Dec 2002
Location: YVR/TPE
Posts: 2,687
Thanked 1,238 Times in 502 Posts
Quote:
Originally Posted by fliptuner View Post
How long do you guys think the market will continue to rise at this pace (let's say 10-20%, annually)?
If and when it flattens out, what do you think will be the cause(s) (interest rates, gov't regulation, etc.)?
It's anybody's guess really.

A few thing to look for though:

Market tends to overshoot (in both up and downward directions) before start changing course.

So, when you start seeing price to increase slower but volume decreases faster for 2-3 consecutive quarters YOY, I'd say that's a hint of market reaching the very peak.

It signals that the price has reached a point where fewer people are able to get into the market excluding other external variables (interest rate, economy... etc). Thus people might still pay a premium on it, but those are either the last dumbass to get in, or they simply have too much resources.

As for what factor could trigger it beyond market forces, it can be many things as there's a huge amount of speculation in GVR market. Interest rate hike can be one, any sort of gov't intervention can be another (although unlikely as it's against BC gov't interest to do so), even a natural causes (disease outbreak, earthquake and so on), or foreign interference (economic crisis in US, China... etc)

Ultimately, it still has to do with economic fundamentals. Either the general rent, income or job opportunities keep up with the increase (meaning there's more people able to buy into the market), or it's just a bubble waiting to be popped. A bubble in any assets would never stagnate, it either continues to grow, or it would start deflating. The only question is the speed it deflates. It can pop or do so in a very long term (a la Japan) until real prices matches again with economic fundamentals.
__________________
Nothing for now
Hehe is offline  
Reply With Quote
This post thanked by:
Old 04-27-2016, 04:40 PM   #5912
Rs has made me the woman i am today!
 
Join Date: Apr 2001
Location: Vancouver
Posts: 4,099
Thanked 1,586 Times in 721 Posts
Quote:
Originally Posted by yameen View Post
do you guys think the burquitlam area will start to boom as well? they currently finished a condo near lougheed mall. i don't know if i want to live so far out though but if that area is going to be developed then i wouldn't mind.

i think i saw somewhere in the previous pages, should i buy presale or once it's completed?
Burquitlam is far?

I think Burquitlam is probably the next Brentwood. Lougheed is set to undergo a major re-development like Brentwood. There are lots of older 3-4 story walk-ups that are probably going to be bought out over the next decade as they become too expensive to maintain. My wife's hairdresser bought into one of these buildings a while back and the owners agreed to take an offer from one of the major developers at 50K over assessed value per unit.

Quote:
Originally Posted by fliptuner View Post
How long do you guys think the market will continue to rise at this pace (let's say 10-20%, annually)?
If and when it flattens out, what do you think will be the cause(s) (interest rates, gov't regulation, etc.)?
A few factors come to mind:

- When the Chinese government starts to really crack down on capital flight
- When the first wave of milennials who are expanding their families give the middle finger and move out of Metro Vancouver or have finished upgrading from their starter condos
- When interest rates rise to the 4% range
- Act of God - earthquake, etc.

It has to stop at some point, but who knows?
Tapioca is offline  
Reply With Quote
This post thanked by:
Old 04-27-2016, 09:22 PM   #5913
I only answer to my username, my real name is Irrelevant!
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Location: Off-Topic
Posts: 26,823
Thanked 6,602 Times in 2,293 Posts
Quote:
Originally Posted by yameen View Post
do you guys think the burquitlam area will start to boom as well? they currently finished a condo near lougheed mall. i don't know if i want to live so far out though but if that area is going to be developed then i wouldn't mind.

i think i saw somewhere in the previous pages, should i buy presale or once it's completed?
As I posted before, Lougheed mall is set for 25+ high rises in redevelopment of the mall over the next 30 years. Some are zoned to be 60 stories+
__________________
Canucks - ftw!
Hondaracer is offline  
Reply With Quote
Old 04-27-2016, 11:35 PM   #5914
Need to Seek Professional Help
 
Join Date: Jan 2013
Location: Vancouver
Posts: 1,070
Thanked 247 Times in 115 Posts
Is the rate of increase in condos/townhouses now faster than detached??

It seems like people are moving towards multi-family now that 10 year old or less detached homes in Vancouver (not Greater Vancouver) are now starting at $1.6-$1.8m
Special K is offline  
Reply With Quote
Old 04-27-2016, 11:57 PM   #5915
Rs has made me the woman i am today!
 
Join Date: Apr 2001
Location: Vancouver
Posts: 4,099
Thanked 1,586 Times in 721 Posts
Quote:
Originally Posted by Special K View Post
Is the rate of increase in condos/townhouses now faster than detached??

It seems like people are moving towards multi-family now that 10 year old or less detached homes in Vancouver (not Greater Vancouver) are now starting at $1.6-$1.8m
I'm not sure what's happening in other areas, but I can offer my observations on the areas I know.

Condos in the Brentwood area have increased nearly 20% over the last quarter. Townhouses in Burnaby generally have increased by the same amount - probably more, depending on the area (Metrotown, Lougheed Mall).

Multi-family in the Tri-Cities is through the roof right now. The vast majority of the townhouses in "desirable" areas such as Westwood Plateau, Burke Mountain, Heritage Mountain/Woods, and Klahanie are going above asking. Based on my observations and my brief access to sales data, I would say that benchmark prices for townhouses have gone up by at least 25% since last fall.
Tapioca is offline  
Reply With Quote
This post thanked by:
Old 04-28-2016, 01:51 AM   #5916
I keep RS good
 
Ulic Qel-Droma's Avatar
 
Join Date: May 2001
Location: Cosmos
Posts: 28,257
Thanked 5,283 Times in 1,373 Posts
it aint real cash till it's in the bank.
__________________
nipples neways...wat is with those fuck'n asians! i mean you would think they've never seen a dentist in their life. are dentists really that rare over there in ricey ricey and? looks like they're star trek ferrengi rejects! fuck'n have broken glass for teeth! goddaymn! and the smell....did a rat crawl in there and shit itself then marinate in its own shit as it decayed?ewwwwwwwwww! i swear...if one of those ferrengi asian girls gave head...when u pull the dick out it looks like it went thru a meat grinder! prolly shaved off a few slices of meat! *shudder*
Greebo i t-boned some guy and killed their baby, it was funny
silvia i have a couple asian guy friends that do very well with the ladies. but guess what, they go to the gym, they dont have long hair, they dont wear orange pants, and they dont play counterstrike. its not the ethnicity that the girls dont like, its the style and personality.
450HP Supra I am about to use your eye sockets as a shoe rack for my nuts. ...something about chinks, j-bodys, I can't quite remember as I was drunk and looking for a girl to punch in the clit. Think of it as a digital urinal, and you are the mint, except, instead of actually smelling mint, you smell like mothballs, rotten kimchee and virginity. I'm about to start drinking heavily now and you better be gone before I get back or I swear to god I will break the internet over my knee and use the pieces to beat you in the deformed skull with, cock muffler.
Iceman-19 If your gf cooks and cleans, good, tell the guy to take a fucking hike. If she doesnt, fuck, that joker can have her. Lifes too short to cook your own meals and do your own laundry, thats what women are for!
http://ho316.tumblr.com
Ulic Qel-Droma is offline  
Reply With Quote
This post thanked by:
Old 04-28-2016, 07:11 AM   #5917
I contribute to threads in the offtopic forum
 
Join Date: Jun 2002
Location: Vancouver
Posts: 2,797
Thanked 239 Times in 120 Posts
A 2 year old townhouse just sold for $1.14mil in my area (River District) just recently. Barely lasted 4 days. My neighbor offered $1mill with zero subjects including a $50,000 deposit on the spot and they still got outbid. These townhomes were $800,000 brand new. I'm not sure what the original owners asking was though. As for my apartment I bought it at $310,000 2 years ago and last assessment is $350,000.
6thGear. is online now  
Reply With Quote
Old 04-28-2016, 08:20 AM   #5918
I contribute to threads in the offtopic forum
 
Join Date: Jun 2006
Location: not vancouver
Posts: 2,647
Thanked 1,936 Times in 764 Posts
hysteria, that's all it is with locals.

it happens every so often in all assets, from tulips, to equities, bonds, and right now real estate in vancouver.

it comes, it goes. those that win, cash out when the time is right - only difference here is that a family home isn't really an investment like equities that can be emotionless-ly cashed out.

ok, so the real winners are those that bought rental properties with yield back in the day that cash out.
4444 is offline  
Reply With Quote
Old 04-28-2016, 08:42 AM   #5919
this is the hardest n***a of all time
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 7,486
Thanked 4,442 Times in 1,778 Posts
Quote:
Originally Posted by fliptuner View Post
How long do you guys think the market will continue to rise at this pace (let's say 10-20%, annually)?
If and when it flattens out, what do you think will be the cause(s) (interest rates, gov't regulation, etc.)?
my guess is when young 2 income families can no longer afford to buy these strata homes. a million for a TH holy shit....when 2 br condos get out of reach i think there's going to be some change in activity since at that point what other buying options are there other than moving or renting...
__________________
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 04-28-2016, 08:53 AM   #5920
Hypa owned my ass at least once
 
westopher's Avatar
 
Join Date: Apr 2011
Location: vancouver
Posts: 6,530
Thanked 16,676 Times in 3,593 Posts
With the rental market in such a frenzy because of low vacancy rate and so many people trying to cash in, thats even killing that option. I have so many friends who have been given 2 months notice to vacate because their landlord wants to sell.
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever View Post
Westopher is correct.
westopher is offline  
Reply With Quote
This post thanked by:
Old 04-28-2016, 09:08 AM   #5921
My dinner reheated before my turbo spooled
 
dat_steve's Avatar
 
Join Date: Jun 2006
Location: Vancouver
Posts: 1,797
Thanked 790 Times in 336 Posts
affordability is a matter of perception and values. if you want a single detached, you're going to have to compromise in some way or form. either live with the fact that you will forever be your bank's bitch fuckb0i, or you need to adjust what you perceive to be important.

My answer? Polygamy, baby. the traditional family structure just isn't as important as having a yard. when dual income won't cut it anymore it's time to think of triple (sky's the limit here) incomes to service that debt. bam - that's compromise. *mic drop
dat_steve is offline  
Reply With Quote
Old 04-28-2016, 09:18 AM   #5922
Head of HR....have a seat on that couch
 
fliptuner's Avatar
 
Join Date: Jan 2003
Location: Coquitlam
Posts: 19,702
Thanked 12,378 Times in 3,344 Posts
Quote:
Originally Posted by GLOW View Post
my guess is when young 2 income families can no longer afford to buy these strata homes. a million for a TH holy shit....when 2 br condos get out of reach i think there's going to be some change in activity since at that point what other buying options are there other than moving or renting...
The opposite is happening in my area, where locals can't or won't compete for detaches that are 40-60% more than 2 years ago. So the foreign money and investors are getting the houses and locals are taking a step back and getting into larger townhomes. From Nov to Feb, TH's in Poco have gone up over 30% from my observation. It's ironic that by not buying that house and just upgrading from a condo to TH or 3br TH to a 4br, they're seeing better returns and living more within their means. It might not be their preferred living situation but right now, I'd say it's totally worth it.
__________________
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 online now  
Reply With Quote
Old 04-28-2016, 09:19 AM   #5923
Rs has made me the woman i am today!
 
Join Date: Apr 2001
Location: Vancouver
Posts: 4,099
Thanked 1,586 Times in 721 Posts
Quote:
Originally Posted by Ulic Qel-Droma View Post
it aint real cash till it's in the bank.
Well, if you've got a HELOC, rising equity means you can borrow more money for investing (or spending on something silly, like a modern European luxury car). CIBC is offering HELOCs at prime in Greater Toronto which is a crazy "deal". Who knows if they'll be offering this product to people in Vancouver?

Quote:
Originally Posted by 6thGear. View Post
As for my apartment I bought it at $310,000 2 years ago and last assessment is $350,000.
Assessed value doesn't mean anything these days. Our previous condo was assessed at 406K and similar units are now selling for over 500K.

Quote:
Originally Posted by GLOW View Post
my guess is when young 2 income families can no longer afford to buy these strata homes. a million for a TH holy shit....when 2 br condos get out of reach i think there's going to be some change in activity since at that point what other buying options are there other than moving or renting...
My guess is people will keep moving further out, like Maple Ridge or Aldergrove, until they can afford a suitable home. New high-rises are being built everywhere outside of the City of Vancouver, so 2-bedroom units will still be within reach for above-average 2-income families as long as interest rates remain fairly low.

Quote:
With the rental market in such a frenzy because of low vacancy rate and so many people trying to cash in, thats even killing that option. I have so many friends who have been given 2 months notice to vacate because their landlord wants to sell.
Or others have landlords who raise rates against the amount set by the RTA just because they can. Even if a landlord loses a hearing and has to pay 2-months rent, it's worth the risk because the demand for rental units in premium locations (i.e. anything in the City of Vancouver) is so high.

The market rent for a typical 2-bedroom high-rise condo in Burnaby is 1800-2000/month. That's still a deal considering the carrying cost of that condo for an owner based on a 10% down payment is still 2600-2800/month.
Tapioca is offline  
Reply With Quote
Old 04-28-2016, 10:20 AM   #5924
Orgasm Donor & Alatar owned my ass twice!
 
Join Date: Oct 2007
Location: Vancouver BC
Posts: 15,060
Thanked 4,990 Times in 1,988 Posts
Quote:
Originally Posted by westopher View Post
I only want money so I can get the things I want, so giving up what I want for money doesn't make sense.
Living somewhere I don't love with 40-50k extra in my bank account will not add to my quality of life.
This is my biggest gripe in this city, is that all I ever hear anyone talk about, is investing and money, and everybody talks about it like they know what the fuck they are talking about. People should worry more about what that money can do for their quality of life instead of being willing to sacrifice enjoyment for more money. Its the most widespread addiction I see.
*edit not trying to totally sound off at you about the question, as its totally legit, but it just brings up a gripe I have with most people I meet on a daily basis.
Why does it bother you so much? May be they're saving it for retirement/healthcare/travel or even helping family out. Everyone has their preference/reason in the way their finances are managed

Some may wanna spend it on depreciating assets like cars in their 20-30s while others are trying to look long term. Different strokes.
__________________
My BST Feedback

Last edited by twitchyzero; 04-28-2016 at 10:25 AM.
twitchyzero is offline  
Reply With Quote
Old 04-28-2016, 10:27 AM   #5925
Hypa owned my ass at least once
 
westopher's Avatar
 
Join Date: Apr 2011
Location: vancouver
Posts: 6,530
Thanked 16,676 Times in 3,593 Posts
When its ALL anyone talks about.
MONEY money money money money. It bothers me a lot. When I sit down with someone for the first time and the conversation goes straight to money, its annoying, and its tacky as fuck.
I don't have a problem with what people DO with their money, I have a problem when its all anyone wants to talk about. Its very different.
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever View Post
Westopher is correct.
westopher is offline  
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 06:26 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