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Vancouver Off-Topic / Current EventsThe 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.
I can also easily find agents that say it will affect the resell value of the apartments. Just coz 3 agents said it won't affect the value doesn't mean 100% of every agent in van will say the same thing and it certainly doesn't not mean 100% of the population who is looking for an apartment will not think living besdie a Hospices is ok and they don't care about it.
I didn't say that they don't believe it affects resale values... they had hard proof in the form of recent sales vs fair market value pricing from different real estate agents.
It will only affect the resale value to other asians who believe in this supersitious garbage. The same that will spend over a million for less that 1000 sq ft and because an address has the number eight.
Asians aren't the only homebuyers in Vancouver. We have rich Russians, Mexicans, Iranians etc... and they buy homes too.
Less people want to buy these apartments = less market since less people will be looking for these apartments = apartments value goes down or takes a lot longer to sell.
This is a universal truth. There are always going to be some apartments that sell and some apartments that take longer. Some suites in some buildings don't sell for months or even years after the building opens. Why is this? Who knows. In the end, everything sells.
People who invest in real estate and expect a liquid asset are only fooling themselves. It takes time to make a decision on a house; very few people will instantly snap something up, and if that's the case, it is most likely because they are not fully considering all aspects, or because the market is highly speculative--either of which could be true here. Even in a seller's market, it can take months to sell a house with all the legalities and negotiations. Why worry about it taking a bit longer?
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And yes I did invest in a few apartments myself and I did not even look at units that faces bad directions even when they are cheaper. Just go to any new showings and most of apartments with good views will be sold first. Why do you think that? O WAIT PEOPLE DON'T CARE! THEY JUST LIKE TO THROW MONEY AWAY
I think you misunderstand what I meant when I said my coworker was asking about "bad directions". According to the korean interpretation (or version, whatever) of feng shui, there are certain cardinal orientations (N/S/E/W) that provide good or bad luck. While I was referring to a "good" direction being one with a view, their "good" direction was one that was lucky.
She was worried because all of the apartments in the 'good' cardinal directions had already been bought. The suites which had good views but were not "properly oriented" according to her cultural traditions were still available, and she was nervous about investing in them.
Again, nobody likes to waste money, but according to the constant media releases from this group, money is not the issue--it's about spiritual beliefs.
People who invest in real estate and expect a liquid asset are only fooling themselves. It takes time to make a decision on a house; very few people will instantly snap something up, and if that's the case, it is most likely because they are not fully considering all aspects, or because the market is highly speculative
True. If I was going to buy property I would perform my due diligence.
I was renting a place in a new development. My neighbors (who purchased) told me that one side of the building sold out in one day. People apparently came prepared to buy before even stepping foot inside. Yet it was those same people that couldn't stand aspects of the neighborhood and petitioned to have the longstanding businesses across the street removed for various reasons. Due diligence beforehand would have revealed everything they later felt were problems.
Again, nobody likes to waste money, but according to the constant media releases from this group, money is not the issue--it's about spiritual beliefs.
If money is not the issue, I'm looking for an apartment in the 150k range right now and I'd be happy to take a unit off one of the owners hands.
I just finished writing a paper for school on why money is the most influential and often times only issue taken into consideration in today's society, as opposed to medieval and renaissance societies which valued chivalry, honor and generosity above a persons monetary worth. It doesn't matter what culture you belong too, with the possible exception of an untouched society deep in the amazon, money is the first and most influential concern in any decision making process.
Last edited by MindBomber; 01-16-2011 at 02:16 PM.
The difference in selling price between homes with "lucky" and "unlucky" street numbers could be as much as $20,000 in cities with large Chinese populations, according to a new study.
Economists at the University of B.C. discovered that homes whose street numbers end with the auspicious number eight sell for 2.5 per cent more than the average house. Those ending in the less favourable number four sell for about 2.2 per cent less.
"Our study suggests these numbers are significant to enough people in these areas that there is a corresponding impact on real estate prices," researcher Jeff Huang said.
The undergraduate economics student, a native of Tawain, says that the number four sounds similar to the word for "death" in many Chinese dialects, while the number eight sounds like "prosperity."
But Huang cautions against broad generalizations: "Obviously, there will be differences from person to person. For example, these beliefs may be stronger for recent immigrants than people whose families have lived in North America for generations."
...
Lead researcher Nicole Fortin says the results prove that superstition can play a major role in real estate decisions.
That's only among a certain group, though. One person may offer above asking price for the house while someone who has superstitions may only offer 75%.
It doesn't mean that the actual value of the house decreases.
^^If the difference in a homes value was really 2.2% less, then why wouldn't the homeowner pay $1000 and have the house number changed to include eights and add $20,000 in value as opposed to detracting from it.
It's saying superstition can have a big enough effect on the market to move prices in a statistically significant way.
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In Column (2), Chinese ethnicity is
measured using a dummy indicating an above average percentage (greater than 18 percent) of
Chinese residents in the CT. The estimated values of
and indicate a 2.1 percent discount
and a 2.5 percent premium arising from the fateful numbers in CTs with above average Chinese
ethnicity.15 In Column (3), is measured by the proportion of ethnic Chinese in the CT. It
shows that as the proportion of Chinese residents increases by one percent, the discount for the
“death”-ridden number “4” increases by 5.5 percent and the premium arising from the
“prosperity”-laden number “8” increases by 6.4 percent. Importantly, the effects of the fateful
numbers in non-Chinese neighborhoods,
4 and
8, go to zero, showing the effects of the fateful
numbers originate from CTs with substantial proportions of residents potentially holding Chinese superstitious beliefs.
Now, how you decide to take this and apply it to the hospice situation is up to you. Just make sure all you faux intellectuals don't have your minds made up beforehand. That tends to fuck up your analysis.
^^If the difference in a homes value was really 2.2% less, then why wouldn't the homeowner pay $1000 and have the house number changed to include eights and add $20,000 in value as opposed to detracting from it.
The answer's in the video..
What's the point of having addresses if everything's an 8?
True. If I was going to buy property I would perform my due diligence.
I was renting a place in a new development. My neighbors (who purchased) told me that one side of the building sold out in one day. People apparently came prepared to buy before even stepping foot inside. Yet it was those same people that couldn't stand aspects of the neighborhood and petitioned to have the longstanding businesses across the street removed for various reasons. Due diligence beforehand would have revealed everything they later felt were problems.
Unfortunately with rampant NIMBYism and the power of lobbying, due diligence is not always necessary.
In South Burnaby there was a high-rise development not too far from Edmonds, near where the old landfill/dump site was. My mom went to drop off some yard waste and electronics there, and started to chat up the guy who was manning the booth. He said "If you've got some more to get rid of, I'd make sure you do it before next Spring."
"But why?" my mom asked.
He pointed at the high-rise (then still under construction). "See that? That's gonna be filled with people pretty soon. And those people aren't gonna like living next to a dump site. So they'll organize, write letters to the city, and get it closed down or moved or what have you."
"But that's stupid!" my mom said. "The dump was here first, and has been here for a long time!"
"Sure it's stupid. It's politics." he said.
When condo owners and strata associations can put pressure on a city to make changes to things they don't like, people feel no need to do due diligence, and feel they can just buy, then change the neighborhood to suit them. My girlfriend lives right across from the now-former home of the Odyssey nightclub. It closed down because it "wasn't suited to the new neighborhood". And they couldn't find a new home anywhere else.
Well, atleast i'm not the only asian who finds this issue retarded.
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A prominent Chinese-Canadian fears his ethnic community is being unfairly tarnished by the protest of Asian condominium owners against a proposed hospice at the University of B.C.
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People are afraid that the entire Chinese community is being painted as uncaring and afraid of a facility that would provide good for the entire community,” said Tung Chan, former CEO of the Vancouver-based immigrant services group Success.
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Stanley Hee said the condominium residents opposing the hospice are a relatively small group. “We don’t have this strong feeling about that,” Hee said. “They say there are some cultural differences, but I don’t think so. That’s not a good reason [not to build the hospice]; I don’t agree with that.”
It's a touchy topic and Asians are more superstitious with the subject of "4" than most other local cultures. Race aside, we used to live across from an old Church and many bad things happened during those years. I had health problems, my brother had some freaky encounters, and my mom felt that something pushed her from behind and fell down the stairs. Even when we tried to sell, the sign would fall off the post hanger everynight.
I recently had some interesting conversations and they said that historically, Churches would have graveyards right in front of their entrance and it's possible that over the years due to financial or government regulations, they were forced to have it cemented over for streets. It's very possible that our old house was built ontop of some shady land, but who knows.
If those people want to sell their condos for 300-400, I'll live there if they don't want to
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Originally Posted by optiblue
It's a touchy topic and Asians are more superstitious with the subject of "4" than most other local cultures.
Yes, my peoples are a backwards superstitious lot. I'm really ashamed of it sometimes.
Hell, with all their scientific advancements and their fantical focus on math and sciences, they have yet to offer any sort of empirical evidence for so called body chemistry things such as "yeet hei", "leung" and "bo huet". Rough translations "hot air, chill, and replishing for the blood".
Yet, my parents, canadian university educated still parrot this bullshit.
I bet you guys are finding the same?
Quote:
Originally Posted by optiblue
Even when we tried to sell, the sign would fall off the post hanger everynight.
I'd gladly put money on it that some punk vandals are to blame. The kind where the parent's don't beat them.
They find it funnier to prank somebody repeatedly. It would actually be more believable if your sign only fell off once in a while in broad daylight.
"Hospice critics don’t speak for us, Chinese community says"
Distancing themselves from condo owners who have opposed a hospice on cultural grounds, Chinese community representatives on Tuesday held a press conference to say the residents’ views do not accurately represent Chinese culture or beliefs.
The group – which included an academic, a feng shui practitioner and the executive director of the National Congress of Chinese Canadians – said while residents’ concerns may reflect some aspects of Chinese folklore, it is false to claim that living next door to a hospice is incompatible with Chinese culture.
“There is a very grave concern in the Chinese community – and it’s not just amongst a few – that Chinese culture is being misrepresented by a few and is giving Chinese-Canadians, and Chinese culture, a bad name,” David Choi, national executive director of the National Congress of Chinese Canadians, said at the press conference.
The clash between a proposed hospice and what residents said was their cultural sensitivities emerged last week, when a group of people who live in a condominium tower on the University of British Columbia Campus went public with their objections to a planned 15-bed hospice near their homes.
A spokeswoman for the group, consisting mostly of recent Chinese immigrants, said 80 per cent of the building’s residents are Asian and that a nearby hospice would flout Chinese cultural sensitivities around death and dying.
It is “impossible” for Chinese people to have dying people in their backyard, Janet Fan said in an interview.
In response to resident concerns, UBC put the project on hold.
The residents’ comments, and UBC’s response, resulted in a flood of commentary, including extensive coverage in Vancouver’s Chinese-language media.
Mr. Choi and others at the event said they decided to discuss the issue in public after getting calls from friends and business associates urging them to speak out.
Compassion and respect – especially for the elderly – are entrenched Chinese cultural values and a hospice is compatible with those values, Mr. Choi said.
He and other speakers discussed the concept of yin and yang – cited by residents as a factor in their objections to the hospice – as being about balance and wholeness, rather than exclusion.
In Chinese religious teachings, there is no higher virtue than relieving other people’s suffering, said Jan Walls, founding director of the David Lam Centre at Simon Fraser University.
“The relief of suffering is probably one of the noblest goals and one of the noblest activities that a Chinese person can engage in,” Mr. Walls said.
The hospice had been scheduled to open in mid-2012. The current site was chosen through a four-year process that weighed other campus locations, including one that resulted in objections from students because of its proximity to student residences. UBC nixed that site based on land use and density considerations, not stakeholder objections, a spokesman said on Tuesday.
According to the Worldwide Palliative Care Alliance, more than 100 million people a year need palliative care but fewer than eight million receive it. In Canada, only 16 to 30 per cent of residents have access to or receive hospice palliative care, depending on where they live.
Last edited by Spectre_Cdn; 01-18-2011 at 08:06 PM.
I'm looking forward to hearing the residents response to the response from the Chinese community, it sounds like most reasonable people of Chinese decent agree with the placement of the site and respect the importance of hospices.
Hopefully UBC begins construction soon so the facility can open and begin it's work. In the mean time, I'm watching MLS for new listings in the building!
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