No doubt, you won't be able to do that anymore.

But on the flip side, now another family will potentially have a long term home.

What's better for society as a whole?

It was a 2.5m house back in 2017. Like some commenters, I highly doubt a 2-3m house that most vocal complainers can't afford is going to make a difference.

The owner of that house will need to rent it, lest they be subject to the spec tax. So someone will end up living in it...

You'll just have to have your orgies somewhere else

My friends clearing $300 - 450K. GP + Sales manager at a dealer. They're renting in Oly Village both for $4k/month. They rent out their units in BBY. Their current unit they live in sells for $1.6 - 2M.Good tradeoff imo. $48K / $2M = 2.4% Gross return before strata, pptax, interest.

Ultimate bachelor dating combo though. Nice view of city + big balcony + big 2br. Plus new 992 911s so they can go 30KM/hour on cambie bridge. Every week they can host an event or go out to find some garden tools to bring home!

^sounds like your typical douchebags.

hahaha that's why I love RS. No woke a** b*tches in here.

To be fair though, any single guy over 30 is magnitudes more valuable than their female counterpart. Homies are aging like fine wine!

so when you shortening your name to just NutButter ?

:troll:

i think tahts why there arent that many single dudes but it seems like a shit ton of single women. at least i know quite a few single women.

most of these single women are like 35+, more or less batshit crazy, and all have a chip on their shoulder or been in some horrific relationships. Yet they still "actively" looking and hoping to find mr right.

All the single dudes i know are either thrice divorced and or just not actively seeking a relationship anymore due to how much they value their independence. Most are all independently wealthy and spend their leisure hours doing things they love *including going on fuckfests around the world.

Kinda different. Older single women reek of desperation or abuse, and older single dudes are like the most interesting guy ever.

Still doesn't change the fact that the same group of complainers aren't one to be affording 4k rent on a 3000sqft house.

The most vocal complainers are the ones that can no longer rent for 1200 for a 3bd, or pay 400k for a 2bd.

I do whine about housing prices too, and the cost of living, but I try to make things work instead of looking for a handout or for everything to be legislated into rules. Most of my friends do as well, very little of them rent and not everyone has a chunk of DP from bank of mom and dad.

It adds one more unit to the housing pool. It'll be within someone's affordability, which could potentially open up another less expensive unit down the line that the "poor complainer handout takers" might be able to afford. That's how this works. Supply/Demand, More available units = more cheaper.

Complaining doesn't do anything, so I think you're on the right track. Might as well try to grind for what you want, at least you might get somewhere close to the goal.

Complaining doesn't get you anywhere.

Everyone agrees that real estate is fooked

Personally, I don't think the rule change (on AirBnB) will make a dent on housing affordability and availability though because the measure is really quite small. The total number of AirBnB units in the province is only estimated to be ~30k units. On the other hand, the province's quarterly population growth is somewhere in the 50k range. I dunno how many new housing units become available in a given year, but we all know from recent history that the supply side has not been able to keep up with demand.

Earlier in the summer months, I remember reading some news regarding the hotel industry saying how they have a desperate shortage of rooms in BC, and that was one of the reasons prices were driven way up.

So it seems like everywhere I turn, housing supply is still in major shortage, so I wouldn't expect prices to soften any time soon.

Now rentals will just get passed around privately instead of having a service like AirBnB being used.

When travelling we met a couple who manages 10 properties in Niagara on the lake, they offered some great advice in terms of renting vacation properties. They said always copy the title of the Airbnb listing and search for that same listing in google, usually the host will have a service outside of AirBnB etc. to rent it without a middle man.

Do you honestly think someone with a second, third, 4th home in a 2.5 million dollar kelowna home or a 900k whistler condo is suddenly going to put this on the market as a long term rental? Highly unlikely.

They will either sell to someone who is going to live there long term, or they will rent it privately through other avenues. Also renting out privately and paying cash you have no trail of the transaction, so even better for the renter.

It’s like drugs etc. when you make the “legal” way unaffordable, illegal methods pop up.

If you think this is going to put a dent in the rental market you’re crazy.

But if they do end up selling it, that's still more supply. More supply means cheaper homes (that still cost more than ever due to the interest rates) which means more places to live which also takes people out of the rental pool which in theory makes it cheaper. It should work, but Vancouver real estate continues to defy math so I don't fuckin know lol.

McGill university did a study and correlated long term rental rates in BC increased by as much as 20% as a result of competition due to the STR market

https://upgo.lab.mcgill.ca/publicati...2023_08_10.pdf

You mean it wasn't the rental caps? Bad tenants, interest rate, no eviction, higher property taxes, and other taxes you have to pay? :drunk:

As evofire said though, these Airbnb homes aren’t homes people have been sitting on the sidelines waiting for.

I get the theory that more supply equals lower prices, but on the flip side I think if there’s enough money going around that people can buy these properties just for more speculation, it’s only gonna hurt your middle class person that wanted a holiday, it’s not gonna do anything for the person with a $1000 a month rent budget.

No one wants to stay in an Airbnb that rents for $1000 a month in Vancouver because it’s probably a dump, and no one paying $1000 a month in rent can even come close to affording to buy that $1000 a month place lol

Imagine a situation where $150K annually still puts you at a housing risk in terms of affordable rentals. What a fucking ridiculous situation we've created in this country.

On a rental note, figured I'd ask on RS.

If anyone knows someone who is looking to rent my place (furnished) for the short-term from April - June 2024, my place is right beside Brentwood Mall, parking also available with my unit.

I will rent my place out at cost, not looking to make money here, planning on leaving the country for a few months.

If you know someone reliable and interested, shoot me a message.

100%, the type to invite people over for expensive dinners and not pay for all the guests :heckno:

What is at cost trololoool $600 a month for one bed, $1300 for 2 bed you talking market rate $2500 for one bed and $3500 for 2 lol :lawl:

Isn't 150k a year, 8.6k a month take home?
Minus 2500 a month for rent.
Still left with 6.1k a month, which equal to 100k income before tax.

People always say this but it's really only true for the guys that put in work to stay looking good and/or were good looking to begin with. For every Clooney out there is 100 dudes who have put on a lot of weight and/or balding hard when they reach middle age. What makes them age like wine is their bank account and women's ability to care about money more than looks lol.

Me turning 40 and waiting for my turn in sun:

https://nicholsnotes.com/wp-content/...12/Emperor.jpg

If people were smart enough and motivated enough to do that AirBnB wouldn't exist.