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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 05-18-2016, 05:21 PM   #6301
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anyone heard of formwerks development or had any experience with them?

interested in a townhome unit developed by them - they seem to fly under the radar but develops some solid properties
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Old 05-18-2016, 06:10 PM   #6302
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Yea, surrey is a tough market.
Looking at stats, condo's haven't sold well at all.
Had 2 people I know who bought into wave presale and couldn't sell it after it was built.
3 civic plaza is 70% sold and it's been 2 years plus it isn't cheap.
Why buy in surrey when coquitlam is the same price minus an extra bridge to cross.
I don't see condo prices there go up until everything is saturared in burnaby, coquitlam etc.
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Sold my condo yesterday in surrey, 2 bedroom 1 bath near 108th and King George, low rise wood frame.

Purchased in 2008 for 235, sold yesterday for 210 after being listed for 3 months



At least I didn't buy multiple units like some people I knew
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Old 05-18-2016, 06:16 PM   #6303
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I feel like in 10+ years the Surrey Central area will be nice, but right now 108th and King George is still crackhead central and it's not very appealing to buyers.
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Old 05-18-2016, 06:20 PM   #6304
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Funny enough the condo I live in now in Burnaby I can ALMOST see my surrey unit from my patio, current unit is 28 years older but worth almost double lol

All bout dat address
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Old 05-18-2016, 06:23 PM   #6305
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Well there's something to be said about not waking up to your car being broken into lol
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Old 05-18-2016, 06:48 PM   #6306
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or with gun administered speed holes or on fire
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Old 05-22-2016, 11:03 PM   #6307
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Just want to share.

????????????????????|??|??_????_???

The link is in Chinese, but it's basically showing the reality of the danger of having high RE prices.

Shenzen is one the 3 red-hot spots in China for RE growth. It has gotten so bad, that even communication giant Huawei is feeling the pain.

Rumor has it that Huawei is planning to move its HQ and major R&D operation to Dongguan, where RE prices are much lower.

Huawei's president went as far as saying that high cost destroys the competitiveness of a company, and that SZ's high RE prices is hitting the bottom line of Huawei to stay competitive.

For letting GVR's RE to stay at record high is not the best interest for us younger residents. It would ultimately drive many investments and industries (hence work) out of the region because they are no longer viable.
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Old 05-23-2016, 12:47 AM   #6308
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Just want to share.

????????????????????|??|??_????_???

The link is in Chinese, but it's basically showing the reality of the danger of having high RE prices.

Shenzen is one the 3 red-hot spots in China for RE growth. It has gotten so bad, that even communication giant Huawei is feeling the pain.

Rumor has it that Huawei is planning to move its HQ and major R&D operation to Dongguan, where RE prices are much lower.

Huawei's president went as far as saying that high cost destroys the competitiveness of a company, and that SZ's high RE prices is hitting the bottom line of Huawei to stay competitive.

For letting GVR's RE to stay at record high is not the best interest for us younger residents. It would ultimately drive many investments and industries (hence work) out of the region because they are no longer viable.
it benefits the few (usually the wealthier) at the cost to many.

the lack of action shows you who butters the politician's bread.

I would like to think people will voice their displeasure via their votes in the next provincial election and boot crusty and moonbeam out, but i doubt this will in fact happen.
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Old 05-23-2016, 01:13 AM   #6309
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it benefits the few (usually the wealthier) at the cost to many.

the lack of action shows you who butters the politician's bread.

I would like to think people will voice their displeasure via their votes in the next provincial election and boot crusty and moonbeam out, but i doubt this will in fact happen.
Unfortunately, the BC NDP is doing a fine job of being completely incompetent. Hell, even the unions are getting fed up with Horgan.

The BC Conservatives don't even have a leader.

Maybe the Greens can pull something out of their asses?
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Old 05-23-2016, 01:30 AM   #6310
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Unfortunately, the BC NDP is doing a fine job of being completely incompetent. Hell, even the unions are getting fed up with Horgan.

The BC Conservatives don't even have a leader.

Maybe the Greens can pull something out of their asses?
Can you provide specifics on those incompetencies? Just wanted to know because I'm not in support of any party at the moment but the headlines are doing a fine job in painting the incomptency on the BC liberals - looking for more research on where my vote should be next year.

I keep hearing NDP are doing a bad job but what exactly are they being bad at?
What did everyone expect them to do? The BC Liberals have 48/85 seats in the legislature so with my shallow understanding of politics I assume the NDP can't do much when it comes to vetoing bills they dont like...

So far, my impression is that the BC liberals are very comfortable with status quo - up to the point that they dont give much care on what they do
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Old 05-23-2016, 02:28 AM   #6311
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This was an interesting read

The anatomy of a housing bubble
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Old 05-23-2016, 02:29 AM   #6312
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It's on VICE
LINK http://bit.ly/1Oy61ei
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Old 05-24-2016, 02:23 AM   #6313
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LOL at asian guy.

There is empty homes in West Van, Empty homes in Coal Harbour. NOT FAIR
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Old 05-25-2016, 01:56 PM   #6314
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LOL at asian guy.

There is empty homes in West Van, Empty homes in Coal Harbour. NOT FAIR
It's hard to argue with the logic of if someone else has something it means you should also... I guess that means we all get a Rolls Royce and a jet because some people have them...
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Old 05-26-2016, 11:08 AM   #6315
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It's hard to argue with the logic of if someone else has something it means you should also... I guess that means we all get a Rolls Royce and a jet because some people have them...
Your logic is flawed.
Most of the complaints in Vancouver aren't about getting a Rolls. It's about not being able to afford living in the city that you grew up in because it's turned into a part time playground for the wealthy.

Give your head a shake, then read this.

http://globalnews.ca/news/2722364/it...an-says-study/

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It takes 23 years to save for a down payment in Metro Van, says study

Another study into Vancouver’s housing market has underlined the difficulty young people face in purchasing their first home.

It now takes 23 years for a person in Metro Vancouver to save for a 20 per cent down payment on a home, up from 5.9 years from 1976 to 1980, according to a new report by Generation Squeeze.

The report, authored by UBC professor Dr. Paul Kershaw and master’s student Anita Minh, bases itsfindings on a person in Metro Vancouver making an average full-time wage ($47,178), and saving 15 per cent for year for an average home (which currently costs $812,653).

In comparison, it takes 15.2 years to afford a down payment in Metro Toronto, 14.6 years in the rest of B.C., and 11.7 years nationwide.

“When housing has become so expensive in B.C…the reality is younger adults in this generation are going to have to be proud as being renters for much of their lives, if not their entire lives,” says Kershaw.
Spoiler!

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Old 05-26-2016, 11:10 AM   #6316
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A good article in the paper today, talking about a report released by Generation Squeeze called Code Red: Why we need to rethink the Canadian housing policy for Generations.

It takes 23 years to save for a down payment in Metro Vancouver: Report
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Old 05-26-2016, 11:23 AM   #6317
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It would take 23 years to save for a DP in Vancouver if you are only saving 15% of your annual income of $47k.

Some things to consider would be:
-Get a part time job at night
-Save more and spend less

Living with my parents, I would have racked up about $800 every 2 weeks with my spending habits on toys, eating out and partying.

The minute I decided to moved out, that VISA payment crashed to about $300.
The issue here isn't just affordability, it's the spending habits of my generation. Being in my mid-20's, I know tons of people who have their $5 Starbucks daily, go out to eat atleast 3x a week, and still shop til they drop. Ofcourse you're going to bitch and moan shit is unaffordable, because you have no money sense.

Until the younger generation learns money-sense, it will always be unaffordable.
Now the downside for older generations that want a house with land, well buck up, because you probably aren't getting it, and people need to really learn to live with that or move on.
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Old 05-26-2016, 12:08 PM   #6318
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It would take 23 years to save for a DP in Vancouver if you are only saving 15% of your annual income of $47k.

Some things to consider would be:
-Get a part time job at night
-Save more and spend less
Also:
-Get a better job
-Get rid of your "sense of entitlement"
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Old 05-26-2016, 12:19 PM   #6319
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Co-worker just told me about this house that is for sale.
7338 Ontario Street.
BC Assessment shows it sold for $960,000 in March 2014 when it was still in it's older building form.
The old house was torn down and a new house was built.
The new house was listed for sale last year for $2.2M
7338 ONTARIO Street in Vancouver: South Vancouver House for sale (Vancouver East) : MLS(r) # V1132315

Now, it has up for sale again.
Anyone wanna guess what the asking price?



I am curious to see how much it actually sells for.
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Old 05-26-2016, 12:43 PM   #6320
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When a house more than doubles in price in less than 2 years, you know the market is highly unstable. Why someone would want to invest in something so volatile, I'm not sure.
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Old 05-26-2016, 01:18 PM   #6321
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Uhh because there's millions to be made..might have somthing to do with it
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Old 05-26-2016, 01:29 PM   #6322
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For people considering moving where can you go?

I have three classes before I get my degree and am considering leaving BC. Calgary was always an option but even now I know people that have gotten laid off and the work just isn't there anymore...

Are we hopeless to believe our elected politicians will ever fix the problem?
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Old 05-26-2016, 01:32 PM   #6323
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depends what your degree is in and what field you want to go in to.
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Old 05-26-2016, 01:38 PM   #6324
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For people considering moving where can you go?

I have three classes before I get my degree and am considering leaving BC. Calgary was always an option but even now I know people that have gotten laid off and the work just isn't there anymore...

Are we hopeless to believe our elected politicians will ever fix the problem?
Why leave BC not every place in the province is as high priced as Vancouver.
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Old 05-26-2016, 01:42 PM   #6325
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So my parents helped my wife and I to buy a pre-sale apartment near Metrotown. It's due for completion in 2017

I got a phone call yesterday from the realtor who sold it to us, saying that she has on offer for my place (again, unfinished, due to complete in 2017) of $100k above what we're paying for it. She says we'll pocket $80k out of it

Seems shady....
I'm new to this whole crazy real estate crap, any thoughts?
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