Vancouver's Real Estate Market

[Bonka]

LOL. Getting into a well paying career and being disciplined about your money, is this suppose to be something new? I guess it serves as a good reminder considering the masses.......

That couple is an outlier though. AND if they're CBC, the likelihood that they were living rent free at the parent's home, tuitions paid for and being cheap it's possible but not representative of the median.

Great plug with Garth Turner and their personal website though.

[Great68]

Originally Posted by Mr.HappySilp

Goddard is a journeyman carpenter, who was laid off from his job in Fort McMurray two years ago

“I’ve got myself into a hole that’s pretty deep to get out of, it’s tough to get out of,” he said.

He finds work here when he can, but can’t find a place to live in Victoria.

That sounds to me is doesn't have a job now and doesn't seem he have hold a steady job for the past 2 years.

Loses job, decides to move to one of the higher living cost cities in the country.

Great logic.

[GS8]

My favourite idiots are the ones who bought a place (say $1.6 million) and assign false net worth based on it.

Which makes them purchase other things that would otherwise be out of their range such as a fancier car, fancier clothes etc.

They live under the delusion that their home value is always physical and can thus be added to their other assets. So they get this euphoric high out of it and start racking up consumer debt (in addition to mortgage) because they're supposedly a millionaire. It's only physical when you cash out at a profit, otherwise the value remains in thin air.

But hey, first world mentality right?

[meme405]

Originally Posted by quasi

It kind of reminds me of this thread on BCsportbikes which is a great read if you ever have some time even if you aren't into bikes. There 4 years into it, they've been around the world and some of the photo's are pretty good. It would make a hell of a coffee table book.

Quit our jobs, sold our home, gone riding...

I skipped many pages, but read a bunch of that, as well as checked out their blog, and this is one of the most fantastic things I have ever seen. Incredible journey.

It's complete shift in terms of what anyone would define as "normal", but then again what is "normal".

Normal for most has been this concept of having a home, going to work, spending weekends with family and doing activities, and then once or twice a year taking vacations. This became normal because this is how many of us grew up. This is how families operate in western culture.

Notice how the two individuals who embarked on this journey have no kids? In many instances the people that do these things don't, and that's why kids aren't as cognizant that this is a viable way to approach life. Not saying you can't have kids and do this type of thing, but it certainly adds an entire other dimension, and a significant level of cost which would rule it out for most people.

It's just interesting to me when someone can actually just abandon "normal". And then seeing what they come up with is often so brilliant. I've met a number of people through travels or work that have done something like this, and it's interesting to talk to them; however, It's very seldom that these people actually take so much effort to document and publicly share that experience. So seeing the photos from this couple is pretty cool.

[Spoon]

Why are you surprised?

Kids are expensive. You better be doing something amazing with your life if all your time and money revolves around yourself and there's no need to leave anything behind for the next generation.

[EndLeSS8]

Vancouver?s real estate tax sparks backlash from Chinese buyers - The Globe and Mail

Really now?

[Tapioca]

Originally Posted by Spoon

Why are you surprised?

Kids are expensive. You better be doing something amazing with your life if all your time and money revolves around yourself and there's no need to leave anything behind for the next generation.

Having kids is a very personal decision. I respect the wishes of those who decide not to have them.

A co-worker of mine is in his 50s. Never been married, never had children, but has traveled a lot. He takes good care of himself and doesn't look his age. He's slept with 100+ women over his life. He recently asked me about what his "legacy" might be. I, as the 30-something father, told him that my kid(s) are my legacy, but that someone like him should volunteer or contribute something else to the community.

The point is that having children shouldn't excuse one from contributing to society and leaving some sort of legacy behind. If you opt for a life of opulence, then you may regret it if you manage to reach your 50s with your health in tact. After all, no one gives a shit about that meal you ate, or that monument you took a selfie of 15 minutes after you've posted it onto Instagram.

[noclue]

Their journey is nice and all but they will be singing a different tune if there is a recession and they lose 30% of their portfolio and companies cut dividends.

[westopher]

That globe and mail article is such a clickbait crock of shit. Have fun retiring on your million dollars of investments for the next 50+ years.

[GLOW]

i clicked looking to read up on said backlash... left disappointed...well played globe and mail...you win this round...

[Urrtoast]

Originally Posted by EndLeSS8

Vancouver?s real estate tax sparks backlash from Chinese buyers - The Globe and Mail

Really now?

Oh BooHoo
They just have to deal with it....

[Hondaracer]

Originally Posted by Spoon

Why are you surprised?

Kids are expensive. You better be doing something amazing with your life if all your time and money revolves around yourself and there's no need to leave anything behind for the next generation.

Old school mentality.

Who's to say what one should do with their lives?

Out of the 40-50+ people me and my fiancé see at least once a month, I'd say roughly 10% have kids. And the vast majority of those people are her cousins who are almost all single parents.

That age bracket is from around 25-40 as well. Shit is changing and people are no longer rushing to have kids anymore. Personally, I don't see us having kids either.

The people who I grew up with who have 2-3 kids are almost all in the same scenario, never travelled, never really had any great experiences, and now they're locked in a mortgage and a job you gotta drag your ass too every day because without it other mouths are gonna go hungry.

I just feel the whole situation isn't for me. And I feel bad for all the kids of single parents we know who, for the most part, having a kid was either a mistake, or a very short sighted decision.

[meme405]

YouTube (Short URL)

[flagella]

Originally Posted by Hondaracer

Old school mentality.

Who's to say what one should do with their lives?

Out of the 40-50+ people me and my fiancé see at least once a month, I'd say roughly 10% have kids. And the vast majority of those people are her cousins who are almost all single parents.

That age bracket is from around 25-40 as well. Shit is changing and people are no longer rushing to have kids anymore. Personally, I don't see us having kids either.

The people who I grew up with who have 2-3 kids are almost all in the same scenario, never travelled, never really had any great experiences, and now they're locked in a mortgage and a job you gotta drag your ass too every day because without it other mouths are gonna go hungry.

I just feel the whole situation isn't for me. And I feel bad for all the kids of single parents we know who, for the most part, having a kid was either a mistake, or a very short sighted decision.

Dude, speak for yourself. If raising kid(s) is too much of a financial and emotional burden for you, that is fine. Other people such as myself, enjoy seeing our kids grow.

This thread sure has turned into some stupid fucking debate over nothing.

[westopher]

I think you are taking it too personally. Those are the people he sees, and in my situation, I see many that are similar. Those that I know that are doing it well however are also the happiest, and most driven people I know. I could take parenthood or leave it, but if it happens I'm sure as shit going to enjoy it, and I'm not going to let it dictate my ability to enjoy living here. Some people just have the "make it happen" mentality.

[flagella]

It isn't about taking it personally. It's the way he characterizes certain parents as if they just live every day to earn enough $ to feed their children.

[Adorkami]

Wife and I just had our second child a little over a month ago. In our group of friends 60 - 70% have kids. Only a couple don't take regular vacations but that seems to be more work obligations than it does with their finances.

[Timpo]

Vancouver to build 400 new affordable homes to stem housing 'crisis'
KELLY SINOSKI
Published on: August 15, 2016 | Last Updated: August 15, 2016 4:37 PM PDT

Vancouver to build 400 new affordable homes to stem housing ?crisis? | Vancouver Sun



The City of Vancouver plans to build 400 new affordable homes — from SROS to three-bedroom family units — in four city-owned lots, in a bid to stem the housing “crisis” gripping the city. Mayor Gregor Robertson said the sites, worth $50 million, are the first four of 20 sites offered to senior levels of government to build affordable homes.

The City of Vancouver plans to build 400 new affordable homes — from SROS to three-bedroom family units — in four city-owned lots, in a bid to help stem the housing “crisis” gripping the city.

Mayor Gregor Robertson said the sites, worth $50 million, are the first four of 20 sites offered to senior levels of government to construct affordable homes.

“Finding quality, affordable rental homes in Vancouver — especially for people on low and average incomes — remains a significant challenge as the vacancy rate hovers near zero,” Robertson said in announcing the new units. “At City Hall we’ll keep doing everything we can to tackle our housing affordability crisis head on, and pursue all options and tools available to build more rental housing.”

Robertson noted the city is moving ahead with the projects after securing development partners, but still requires funding contributions from the provincial and federal governments to keep prices affordable.

The final number of homes on each site is subject to approval through the development and rezoning process.

The sites include:


• 177 West Pender Street: earmarked for 100 homes for people on low to moderate incomes. Rents would range form $375 to $850 per month;

• 3510 Fraser Street: About 60 homes for seniors with the potential for a senior centre on the ground floor. Rents slated at between $750 and $1,400 per month.

• 2221 Main Street: About 130 rental homes for working families and singles. Rents set at $850 to $2,000 per month;

• 55-79 and 87-115 Southwest Marine Drive: About 130 rental homes for working families and singles. Rents from $1,000 to $2,000 per month.

[twitchyzero]

some nice areas
what are on those lots right now?

[westopher]

Originally Posted by flagella

It isn't about taking it personally. It's the way he characterizes certain parents as if they just live every day to earn enough $ to feed their children.

He's not characterizing certain parents, he's telling anecdotal experiences about people he knows. Its not like thats in no way true. His friends =/= your friends.

[Timpo]

Vancouver real estate agents criticized for sympathy card
Gordon McIntyre / Vancouver Sun
AUGUST 9, 2016 07:22 AM

Vancouver real estate agents criticized for sympathy card


A 73-year-old man who lost his wife got a pitch for his real estate business in a sympathy card. Photograph By NICK PROCAYLO

A 73-year-old man whose wife died less than three weeks earlier was crushed to get a pitch for his business attached to a sympathy card from two Metro Vancouver real estate agents, his outraged daughter says.

“It absolutely devastated him,” Launi Smith Bowie said. “It’s absolutely disgusting and misguided in the worst way.”

The card her father received read: “May loving memories be your constant comfort and fill your heart with peace.”

A hand-written note added: “Dear Mr. Smith. So sorry to hear of your wife’s passing. Please let us know if we can help in any way with your Real Estate needs when the time is right.”

Business cards from two realtors with HomeLife Benchmark Realty in White Rock, belonging to Linda Shaver and Leanne deSouza, were included.

Bowie feels that at best, the two real estate agents displayed extremely poor judgment. “On what planet does someone think this is ethical or even remotely acceptable?” Bowie said. “They probably think it was just an innocuous marketing plan, but it’s not.

“They didn’t know my mom. They don’t know my dad. It shows a total lack of compassion. It was a punch in the gut to my dad when he’s already feeling so wasted.

“I don’t know who they think they are that they can invade his space the way they did.”

The two real estate agents said they made a mistake. They had met the father during a routine door-knocking outing, deSouza said, and had discussed the value of his house.

The pair felt it was worth a lot more than he thought it was.

That’s when he mentioned his wife had just died, according to the real estate agents. “We both said we were so sorry for the loss,” said Shaver.

They included the sympathy card as part of their routine follow-up, she said. “What I learned is I’ll never put another business card in a sympathy card. We regret that we’ve caused further pain for the family.”

Bowie’s 72-year-old mother was attending her son’s birthday party on July 17 when, unseen by others, she fell. She was unresponsive when family members discovered her. It turned out she had broken her neck. A decision was later made to take her off life support.

Bowie’s father had brought his unopened mail with him to the family’s cabin in the Interior and was watching the Olympics while he opened it on Saturday, 20 days after his wife’s sudden death. That’s when he came across the agents’ card.

A friend of the family found him holding the card, shoulders stooped and staring vacantly, Bowie said.

[Spoon]

Originally Posted by Hondaracer

Old school mentality.

Who's to say what one should do with their lives?

Out of the 40-50+ people me and my fiancé see at least once a month, I'd say roughly 10% have kids. And the vast majority of those people are her cousins who are almost all single parents.

That age bracket is from around 25-40 as well. Shit is changing and people are no longer rushing to have kids anymore. Personally, I don't see us having kids either.

The people who I grew up with who have 2-3 kids are almost all in the same scenario, never travelled, never really had any great experiences, and now they're locked in a mortgage and a job you gotta drag your ass too every day because without it other mouths are gonna go hungry.

I just feel the whole situation isn't for me. And I feel bad for all the kids of single parents we know who, for the most part, having a kid was either a mistake, or a very short sighted decision.

Think you missed the fucking point. All I said was if someone didn't have the financial burden of having kids and the desire to leave money behind, they should absolutely be able to afford to go on these lavish escapades. Not even sure how you read it as me telling everyone that they should have kids and lead a traditional lifestyle.

[flagella]

Originally Posted by westopher

He's not characterizing certain parents, he's telling anecdotal experiences about people he knows. Its not like thats in no way true. His friends =/= your friends.

Westopher, when someone says "now they're locked in a mortgage and a job you gotta drag your ass too every day because without it other mouths are gonna go hungry", he isn't just telling his anecdotal experiences. It mischaracterizes these parents and he clearly does not understand parenthood. Also that phrase describes most parents and non-parents, whether successful or not in such a negative way. I'm simply telling him to keep it to himself because it benefits no one. People don't need to hear his anecdotal experiences to make the decision to have kids or not. It's a significant decision that doesn't only entail assessing whether you'd have enough money leftover for your travels. Also, this is Vancouver RE thread, so stick to the fucking topic.

[Hondaracer]

Lol peeps touchy when it comes to kids eh?

Do whatever you want. But when you become a single parent, or can no longer afford to live in the city, don't go bitching about the price of RE or how you can't afford to live in a 3+ bed house. The decisions you've made put yourself in that position. "Love" don't fill dat investment portfolio.

Don't see how you can argue against being trapped in the rat race, as CiC may put it, if you've got a kid or large family though. From that point on you've got obligations to fill for the next 25 years. These aforementioned people who always take vacations etc with their kids must have excellent jobs to be able to strike such a balance.

[hud 91gt]

Sounds a bit selfish to me. But that's pretty normal of our generations isn't it?

I'd say 20-30% of my friends have kids. Had them young. My close group of friends are quite succesful, good people. They all plan on having families at some point but can't seem to find a partner who isn't a Vancouver special. Materialistic, wine and cheese drinking, vacation wanting simple person. True story. Vancouver is full of them.

People have different ideals on what to do with their life. No one is right.

Back to real estate.