Vancouver's Real Estate Market

[CivicBlues]

Originally Posted by Carl Johnson

says the man whose parents own multiple properties and runs a landlord business. hypocrite like you don't know when to STFU and just leave this thread once and for all.

Sounds like you're the biggest butthurt poster here and this post confirms it. So you don't agree with what 4444 says so he should just stop posting? Wow. I've read most of his and your posts and what he says makes perfect sense from an financial advice standpoint. Just because you made good in a completely irrational and unprecedented time period on a single asset, doesn't mean it's going to be that way for everybody else.

[quasi]

Originally Posted by Gululu

https://www.realtor.ca/Residential/S...olumbia-V3S2S7

anything wrong with this one?

I'm almost certain that house was a fire repair from year back. The house almost completely burnt down but they rebuilt it without doing a complete tear down. It was either this house or the one next to it but I'm pretty sure it was this one.

As mentioned above that's a super busy intersection, traffic noise would be brutal.

[Hondaracer]

For $499 though, some value there.

In regards to the river district, I'm gonna head down there soon and walk around, it's an area that intrigues me but I have no idea what's going on there, much like Burke mountain.

I'll drag my camera with me and get some pics to bring back.

Also, is there an easy way for me to upload a word document to share? Drop box or somthing? I just completed a walk through list for a friend buying a new townhouse, includes things to look for in terms of deficiencies etc. be more than happy to share it here, it's relevant for all new construction really

[CRS]

Originally Posted by Hondaracer

For $499 though, some value there.

In regards to the river district, I'm gonna head down there soon and walk around, it's an area that intrigues me but I have no idea what's going on there, much like Burke mountain.

I'll drag my camera with me and get some pics to bring back.

Also, is there an easy way for me to upload a word document to share? Drop box or somthing? I just completed a walk through list for a friend buying a new townhouse, includes things to look for in terms of deficiencies etc. be more than happy to share it here, it's relevant for all new construction really

Google drive is a good choice where you can get a shareable link. From this link you can choose if the link allows other people to edit or to only view. It also allows for real time changes.

[winson604]

Originally Posted by Hondaracer

For $499 though, some value there.

In regards to the river district, I'm gonna head down there soon and walk around, it's an area that intrigues me but I have no idea what's going on there, much like Burke mountain.

I'll drag my camera with me and get some pics to bring back.

Also, is there an easy way for me to upload a word document to share? Drop box or somthing? I just completed a walk through list for a friend buying a new townhouse, includes things to look for in terms of deficiencies etc. be more than happy to share it here, it's relevant for all new construction really

Will come in handy for me next year thanks in advance!

[GLOW]

i have an acquaintance living there. nice area. i would think all the new traffic lights going in on marine would slow any potential speeding down there now. i wonder if fraser and water levels are an issue during heavy rain.

[pure.life]

Originally Posted by winson604

Will come in handy for me next year thanks in advance!

There is a railway track there and a train passes by every day. It's quite close to the residential area. I have heard mix reviews.

[6thGear.]

Originally Posted by pure.life

There is a railway track there and a train passes by every day. It's quite close to the residential area. I have heard mix reviews.

I find quite the opposite. Mind you I'm at work during the day but weeknights and weekends I rarely hear a train go by. Although I've been home the past 2 Fridays including today and it's never passed any of these days. Maybe the people you know that says it passes by everyday is just unlucky on the days they're home?

[Hondaracer]

Once you've lived by the train for a while you never hear it anyways

[Scotsman]

There's also a new development going on at the NW corner of Boundary and Marine Dr so that's across from the River District. Still Vancouver

I don't drive slow enough to read the sign but I think it's also residential. They cleared a forest to build there.

[jing]

Originally Posted by Scotsman

There's also a new development going on at the NW corner of Boundary and Marine Dr so that's across from the River District. Still Vancouver

I don't drive slow enough to read the sign but I think it's also residential. They cleared a forest to build there.

Someone correct me if I'm wrong, but that development you're referring to is still a part of the "new" River District.

[fishCak3s]

I work in the business park next to River District on the Burnaby side. Sometimes we use Kent Ave to avoid traffic on Marine until the construction shut Kent down.

I would worry about liquidfaction along the river though. Our building had visible signs showing the building sliding towards the river. But this could only be us though since we're an older building built in the early 2000s.

One thing to note is the smell. We do receive various smells in the business park from time to time and it's not pleasant. We've filed smell complaints to Metro Vancouver and notified WorkSafeBC as some people have showed signs of discomfort.

Just FYI

[Carl Johnson]

Originally Posted by 4444

sorry dude, i own lots of different types of assets (remember, I preach diversification, so owning lots of different assets and rebalance, this totally includes a portion of RE): buy low sell high. you can't win them all, but follow that advice and you'll do well.

not sure why you're talking about my parents, i'm not some 20 something punk who considers their parents' stuff as their own.

your point of diversification has gone back since the beginning and it hasn't helped anyone who is still renting by listing to your specious argument. my point is that you have already made your point long ago, it is time to move on. I don't get what is your true agenda here because i don't honestly believe you are trying to "help" anyone here by telling them don't buy and rent. diversification sounds nice but diversification has another meaning: you don't know what you are doing.

[Carl Johnson]

Originally Posted by CivicBlues

Sounds like you're the biggest butthurt poster here and this post confirms it. So you don't agree with what 4444 says so he should just stop posting? Wow. I've read most of his and your posts and what he says makes perfect sense from an financial advice standpoint. Just because you made good in a completely irrational and unprecedented time period on a single asset, doesn't mean it's going to be that way for everybody else.

reality is often not what it seems. the guys who makes it big don't go the conventional route like 4444 is "preaching".

[jackmeister]

Originally Posted by fishCak3s

I would worry about liquidfaction along the river though. Our building had visible signs showing the building sliding towards the river. But this could only be us though since we're an older building built in the early 2000s.

Dude less than 20 years old and your building is sliding? That's kinda scary.

[Coren]

Originally Posted by Scotsman

There's also a new development going on at the NW corner of Boundary and Marine Dr so that's across from the River District. Still Vancouver

I don't drive slow enough to read the sign but I think it's also residential. They cleared a forest to build there.

2 6 story buildings going in that space and I believe they are rental only

[westopher]

Originally Posted by Carl Johnson

reality is often not what it seems. the guys who makes it big don't go the conventional route like 4444 is "preaching".

K actually stop now....

[Hondaracer]

Here's a link to my home owner orientation walk-through checklist:

https://drive.google.com/file/d/0B0e...ew?usp=sharing

This was something i adapted from the checklists we use for our own walkthroughs prior to customer walkthroughs, I added notes in each section as to what to look for specifically, it was kind of rushed so i will try to make a revised version in the future, but a little help for people right now, i'll post it on the next page as well when we roll onto it.

[Digitalis]

So you being a numbers guy and all, tell me.... short of a dirty bomb or earthquake. How is the projected population increase of 1.2M in vancouver/surrey/burnaby/tricities in the next 30 years going to make house prices drop?

Originally Posted by 4444

WTF is the obsession with owning. why does the government want to interfere with lower income people's ability to buy a place.

i do understand the theory that ownership makes for more stable neighbourhoods, and their is truth to that, but it also limits flexibility and mobility to a large degree which is a massive negative in our more and more globalized economy.

personally, i hate these types of programs. if you can't afford to buy, don't. but then again, we all know that this is just a way to force people to save... even though this is basically making real estate a massive ponzi scheme.

governments really just need to protect their residents' interests, not mess around with low income/ high income/ whatever income people's ability to do this, that, or the other. they should concentrate on tightening their borders, banking, and real estate activities if they want to bring reality and affordability back to the masses.

[westopher]

Show me the jobs that can sustain that growth AND allow people to afford to live here. All it's going to take is one change in ownership restrictions to drastically affect this. Now, it's always going to be a desirable place to live. It's not going to come crumbling down anytime soon. But changes certainly can, and will happen.

[Hehe]

Originally Posted by Digitalis

So you being a numbers guy and all, tell me.... short of a dirty bomb or earthquake. How is the projected population increase of 1.2M in vancouver/surrey/burnaby/tricities in the next 30 years going to make house prices drop?

Honestly, if we are going to talk about long term like 30yrs, how is this even a question?

It's all about affordability. A decent income (say 130k pre-tax?) couple can afford what? Maybe 1M mortgage (roughly 3k/mth in payment and another 1~1.5k or so for property tax, insurance... etc) at 2.8% interest rate, a relative historic low.

This is a stretch already. Let's assume the couple has 8k/month after tax. You take 4k out of that equation, the couple is left with 4k to bring food to the table, child care, and every other expense for the family.

Let's just assume that NOTHING changes in the next 30yrs except the population for simplicity sake. Unless all 1.3M new immigrants to BC are all multi-millionaire or all CEO who gets paid 500k+ per year, I really don't see how much further can the real estate go. No matter how you justify the pricing, it can only go until people simply can't afford anymore.

For the price to continue growing, Vancouver's economic has to have a major transformation. We cannot sustain the RE pricing with RE industry as the main contributor to GDP. There has to be a similar growth in wage, job opportunities or if we want to cater rich foreign investors, a devaluation on CAD in similar percentage to the RE growth... all which simply mean the loonie in your hand would worth less (inflation).

[Carl Johnson]

Originally Posted by westopher

Show me the jobs that can sustain that growth AND allow people to afford to live here. All it's going to take is one change in ownership restrictions to drastically affect this. Now, it's always going to be a desirable place to live. It's not going to come crumbling down anytime soon. But changes certainly can, and will happen.

really? do you honestly think government will put a stop to the real industry which has being a huge bonanza to the government's coffer when the energy/mining sector has taken quite a hit lately?

by the way, prices are usually a leading indicator of things to come. and i believe Vancouver and the province as a whole has got a lot momentum going for it. if you think it is expensive now, you just wait.

[Ludepower]

If the price goes down or up. Who cares. You have no control over these external factors.
Just get in and worry about the consequences later. At the end of the day its upto both husband and wife to bring home the money by having solid careers. That way when the ship sinks...your neighbors will go down first.

[Adorkami]

Originally Posted by Hehe

Honestly, if we are going to talk about long term like 30yrs, how is this even a question?

It's all about affordability. A decent income (say 130k pre-tax?) couple can afford what? Maybe 1M mortgage (roughly 3k/mth in payment and another 1~1.5k or so for property tax, insurance... etc) at 2.8% interest rate, a relative historic low.

This is a stretch already. Let's assume the couple has 8k/month after tax. You take 4k out of that equation, the couple is left with 4k to bring food to the table, child care, and every other expense for the family.

Let's just assume that NOTHING changes in the next 30yrs except the population for simplicity sake. Unless all 1.3M new immigrants to BC are all multi-millionaire or all CEO who gets paid 500k+ per year, I really don't see how much further can the real estate go. No matter how you justify the pricing, it can only go until people simply can't afford anymore.

For the price to continue growing, Vancouver's economic has to have a major transformation. We cannot sustain the RE pricing with RE industry as the main contributor to GDP. There has to be a similar growth in wage, job opportunities or if we want to cater rich foreign investors, a devaluation on CAD in similar percentage to the RE growth... all which simply mean the loonie in your hand would worth less (inflation).

Even if you assume they can afford the monthly payments how are most people going to be able to afford the down payment on such an expensive property with the cost of living being so high.

[Carl Johnson]

Originally Posted by Ludepower

If the price goes down or up. Who cares. You have no control over these external factors.
Just get in and worry about the consequences later. At the end of the day its upto both husband and wife to bring home the money by having solid careers. That way when the ship sinks...your neighbors will go down first.

if only others will listen. too many people analyze the most trivial data and somehow try to fit those information into their already established beliefs (confirmation bias).

you want stay in vancouver for the long term and have a family? buy if you have the financial backings. do not wait! it doesn't get any more simpler than that. all the other stuff is garbage.