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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 09-12-2016, 08:37 PM   #8276
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Government should make your mortgage allowance, a max of 3 times your annual pay with a 20% down requirement.

No retarded debt for 25 years paying 300K on a 350K townhouse.

No bailing out all those poor bastards, that only own 10% of their home when shit hits the fan.

Theres a reason why mortgage means death pledge in latin.
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Old 09-12-2016, 08:44 PM   #8277
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Townhouses are still moving in the Tri-Cities, particularly in Heritage Woods, Westwood Plateau, and Burke Mountain.

MrPhreak: you could always buy something in the 550k range in Burnaby-Brentwood. You'll have views for now.
This is my fall back plan, either Brentwood or near Metrotown.

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I'd challenge that there are significantly more local Canadian speculator owned homes, especially in the downtown area, than foreign speculator owned. And now with rent prices what they are and low rental stock, I wouldn't expect pricing to become affordable and worthwhile by your measures. Sounds like you are looking for high end finishes, oceanview, rock bottom pricing, in a 'hot' location.
You could be right, but the international influence (not just from China, but also from the US) has played a big part in getting prices to where they are today.

I am not really looking for an ocean view, or high end finishes... but yes, I'd like something close to where I work and not in a sketchy neighborhood where the safety of myself and my wife isn't a constant issue. As far as rock bottom prices go, I suppose it is all relative. To me 800K is a lot of money anyway.
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Old 09-12-2016, 09:02 PM   #8278
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Originally Posted by donk. View Post
Government should make your mortgage allowance, a max of 3 times your annual pay with a 20% down requirement.

No retarded debt for 25 years paying 300K on a 350K townhouse.

No bailing out all those poor bastards, that only own 10% of their home when shit hits the fan.

Theres a reason why mortgage means death pledge in latin.
So ... Basically no one except the ultra-rich can buy a house?

How many regular people are making $117k/year and have $70k sitting in a bank account to put down on a $350k townhouse?
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Old 09-12-2016, 09:31 PM   #8279
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How many regular people are making $117k/year
Almost everyone on RS from what I've seen. Those that aren't just need to work harder.
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Old 09-12-2016, 11:13 PM   #8280
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Almost everyone on RS from what I've seen. Those that aren't just need to work harder.
I was going to say; Maybe there is a correlation between high income and Forum usage. We all know how Forum usage is declining, maybe it just so happens that only remarkably bright people are still using forums.

But then I went into the Tax thread and realized there are some exceptionally stupid people on these forums, so the above cannot be true.
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Old 09-12-2016, 11:52 PM   #8281
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To me 800K is a lot of money anyway.
No doubt it is. Basically you have to balance price, size (and features), and location. There are no deals to be had closer to the city's core.

It's far too easy to become frustrated looking at the market and what your dollar can buy. IMO save yourself the few hundred k, look into your fall back area, settle and enjoy life in your new home. Finding a prospective home to buy and live in can be a stressful and frustrating practice in a seller's market.
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Old 09-12-2016, 11:59 PM   #8282
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So ... Basically no one except the ultra-rich can buy a house?

How many regular people are making $117k/year and have $70k sitting in a bank account to put down on a $350k townhouse?
Someone ran the numbers earlier. But 117k for dual income household is maybe just on the high side of average I'd say. That same couple should be able to save up 70k over 3-5 years even taking into consideration reasonable living expenses.
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Old 09-13-2016, 06:11 AM   #8283
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It's about 40k higher than average in this city IIRC.
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Old 09-13-2016, 08:01 AM   #8284
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Almost everyone on RS from what I've seen. Those that aren't just need to work harder.
Say that to the ppl who makes over 100k a year and still can't afford to even pay their bills due to spending habits. Yet you see people who barely made above min wage getting a house.......
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Old 09-13-2016, 08:20 AM   #8285
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This is my fall back plan, either Brentwood or near Metrotown.



You could be right, but the international influence (not just from China, but also from the US) has played a big part in getting prices to where they are today.

I am not really looking for an ocean view, or high end finishes... but yes, I'd like something close to where I work and not in a sketchy neighborhood where the safety of myself and my wife isn't a constant issue. As far as rock bottom prices go, I suppose it is all relative. To me 800K is a lot of money anyway.
Unless the government does something crazy and starts expropriating homes, the damage has been done and no policy will bring he market back in line with traditional fundamentals.

The safest neighbourhood downtown is Coal Harbour because no one lives there. Gastown, Yaletown, and the West End all have their share of homeless people, drug use, and petty crime. I think downtown is overrated, but I say this as a 30-something. You will outgrow it eventually unless you and your wife are going to remain DINKs.

My wife and I get our dose of downtown because we work there, but we like the peace and quiet the suburbs offer.

Some food for thought.
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Old 09-13-2016, 08:43 AM   #8286
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Say that to the ppl who makes over 100k a year and still can't afford to even pay their bills due to spending habits. Yet you see people who barely made above min wage getting a house.......
i'm sorry but who are these people buying houses with barely minimum wages? maybe i'm out of the loop in this thread.
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Old 09-13-2016, 09:19 AM   #8287
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i'm sorry but who are these people buying houses with barely minimum wages? maybe i'm out of the loop in this thread.
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Old 09-13-2016, 09:23 AM   #8288
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I need some fuck you money lol
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Old 09-13-2016, 09:25 AM   #8289
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Say that to the ppl who makes over 100k a year and still can't afford to even pay their bills due to spending habits. Yet you see people who barely made above min wage getting a house.......
I don't know how that pertains to the joke I made whatsoever.
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Old 09-13-2016, 09:39 AM   #8290
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I don't know how that pertains to the joke I made whatsoever.
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Old 09-13-2016, 09:41 AM   #8291
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Sorry. Misread who posted sarcasm detector.
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Westopher is correct.

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Old 09-13-2016, 09:47 AM   #8292
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i'm sorry but who are these people buying houses with barely minimum wages? maybe i'm out of the loop in this thread.
The ones who live at home rent free and are gifted the down payment from their parents. They are the same people who say the government shouldn't intervene with the housing market because it punishes all the people who worked hard to save up.
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Old 09-13-2016, 09:54 AM   #8293
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I'm curious about what type of government intervention would allow you to buy that would double wide lot in Langley at 450K?
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Old 09-13-2016, 09:56 AM   #8294
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Langley has lost it's mind. Remember back in the late 00's when I would get nothing but abuse for living in Langley?
Now my area has gone mostly Korean with a sprinkling of mainlander. Mark my words, Langley will be the next Richmond. I know many folks who have sold their Langley homes to new immigrants, making 40-50% profit off the sale, only to be forced to move east of Abbotsford and paying prices that are 50% higher in that area.

Imagine leaving the city you grew up in so you can make a couple hundred grand, only to spend a fortune on a house in a city you don't want to live in. Then being left with enough profit to buy a shitty Ford F150 and some new furniture. I've seen this many times in the last year, and it's a shame.



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Theres a reason why mortgage means death pledge in latin.


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Old 09-13-2016, 09:59 AM   #8295
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I'm curious about what type of government intervention would allow you to buy that would double wide lot in Langley at 450K?
Probably that kind that should have happened years ago before it was too late.
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Old 09-13-2016, 09:59 AM   #8296
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It should have happened 5 years ago
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Old 09-13-2016, 10:10 AM   #8297
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I don't care who moves there, Langley is still a shit hole
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Old 09-13-2016, 11:30 AM   #8298
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I know you're just trolling, but Langley has always been a nice place to live. It had a small town feel for so many years, until the developments came around. It's a bittersweet scenario, because the same development that ruined our little town are the same developments that made me wealthy.

The problems I find now are folks coming from Vancouver/Burnaby with their shitty urban elitist attitudes. Folks forced to come to the suburbs, while looking down upon those who live here already. To many, life is viewed as a competition and anyone who is in their way will pay. It's as simple as dropping my kids off at school, and seeing leased Audi housewives stopping in the middle of the road to let their kids out like they own the place. They don't work, but in their minds they are superior. I laugh when my wife has someone over for coffee and they see my house. Suddenly they're treating me differently, like I can help their social status or some shit.

The other issue is the Chinese and Korean immigrants who refuse to work within our culture. Again using the school as an example, there are two different groups. The multi generational Canadians, who come from all over the world and have no issues playing together. Then there are the asian kids who speak their native tongue and live their lives in a little asian bubble. Their moms are living in Canada making no income, while dad lives and works in Korea or China and sends over a respectable allowance. It's a terrible way to live, but it's incredibly common. And why should these folks immerse themselves in Canadian culture, if they're here for a two year education vacation?

It's all fucked up.
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Old 09-13-2016, 11:52 AM   #8299
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Someone ran the numbers earlier. But 117k for dual income household is maybe just on the high side of average I'd say. That same couple should be able to save up 70k over 3-5 years even taking into consideration reasonable living expenses.
Median household income in Canada is just shy if $79k/year (2014 Stats Canada) and median individual income in Canada is $33k/year (2014 Stats Canada).
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Old 09-13-2016, 11:55 AM   #8300
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The problems I find now are folks coming from Vancouver/Burnaby with their shitty urban elitist attitudes. Folks forced to come to the suburbs, while looking down upon those who live here already.
and those that are priced out of Langley, do they impose a similarly shitty attitude towards their new Abby/Chilliwack neighbours?
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