REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

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.

Reply
 
Thread Tools
Old 04-27-2016, 12:01 PM   #5901
RS has made me the bitter person i am today!
 
Join Date: Apr 2001
Posts: 4,964
Thanked 2,451 Times in 1,123 Posts
CMHC is finally stating that the Vancouver market for detached homes is detached from fundamentals (no pun intended):

https://www.cmhc-schl.gc.ca/en/corp/...04-27-1200.cfm
Advertisement
Tapioca is offline   Reply With Quote
Old 04-27-2016, 12:22 PM   #5902
reads most threads with his pants around his ankles, especially in the Forced Induction forum.
 
Mr.HappySilp's Avatar
 
Join Date: Mar 2004
Location: Vancouver
Posts: 10,645
Thanked 2,191 Times in 1,131 Posts
Quote:
Originally Posted by dat_steve View Post
curious, where do you get a condo for 270k?
Pre purchase my unit for 295k went up to around 350k now @@
Mr.HappySilp is offline   Reply With Quote
Old 04-27-2016, 02:01 PM   #5903
Willing to sell body for a few minutes on RS
 
westopher's Avatar
 
Join Date: Apr 2011
Location: North vancouver
Posts: 12,030
Thanked 31,020 Times in 7,110 Posts
Yep. Mine was about 335 up to about 390+ now. 3 months from move in date as of today!
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever View Post
Westopher is correct.
Quote:
Originally Posted by fsy82 View Post
seems like you got a dick up your ass well..get that checked
Quote:
Originally Posted by punkwax View Post
Well.. I’d hate to be the first to say it, but Westopher is correct.
westopher is online now   Reply With Quote
Old 04-27-2016, 02:03 PM   #5904
I subscribe to Revscene
 
dat_steve's Avatar
 
Join Date: Jun 2006
Location: Vancouver
Posts: 1,908
Thanked 842 Times in 364 Posts
tempted at all to take a 30k payday an run for the hills? Literally, you know, since you can buy back in and all. lol
dat_steve is offline   Reply With Quote
Old 04-27-2016, 02:24 PM   #5905
y'all better put some respeck on my name
 
Harvey Specter's Avatar
 
Join Date: Dec 2002
Location: Vancouver
Posts: 18,223
Thanked 9,244 Times in 2,359 Posts
I still believe the DT condo market is undervalued and will continue to grow but there will be a time in the near future when condos will be overvalued like homes.
Harvey Specter is offline   Reply With Quote
Old 04-27-2016, 02:26 PM   #5906
I told him no, what y'all do?
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 9,809
Thanked 5,785 Times in 2,492 Posts
couldn't you offload, take the $ and run and then look for a slightly older condo in decent shape at a lower price? i assume condos a few years old would be cheaper?
__________________
Feedback
http://www.revscene.net/forums/showthread.php?t=611711

Quote:
Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity
Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW is offline   Reply With Quote
This post thanked by:
Old 04-27-2016, 02:41 PM   #5907
Willing to sell body for a few minutes on RS
 
westopher's Avatar
 
Join Date: Apr 2011
Location: North vancouver
Posts: 12,030
Thanked 31,020 Times in 7,110 Posts
I only want money so I can get the things I want, so giving up what I want for money doesn't make sense.
Living somewhere I don't love with 40-50k extra in my bank account will not add to my quality of life.
This is my biggest gripe in this city, is that all I ever hear anyone talk about, is investing and money, and everybody talks about it like they know what the fuck they are talking about. People should worry more about what that money can do for their quality of life instead of being willing to sacrifice enjoyment for more money. Its the most widespread addiction I see.
*edit not trying to totally sound off at you about the question, as its totally legit, but it just brings up a gripe I have with most people I meet on a daily basis.
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever View Post
Westopher is correct.
Quote:
Originally Posted by fsy82 View Post
seems like you got a dick up your ass well..get that checked
Quote:
Originally Posted by punkwax View Post
Well.. I’d hate to be the first to say it, but Westopher is correct.
westopher is online now   Reply With Quote
This post thanked by:
Old 04-27-2016, 02:41 PM   #5908
y'all better put some respeck on my name
 
Harvey Specter's Avatar
 
Join Date: Dec 2002
Location: Vancouver
Posts: 18,223
Thanked 9,244 Times in 2,359 Posts
Older condos are going up as well plus the strata might be higher and you have to be concerned about future repairs with older buildings.
Harvey Specter is offline   Reply With Quote
This post thanked by:
Old 04-27-2016, 02:47 PM   #5909
Even when im right, revscene.net is still right!
 
yameen's Avatar
 
Join Date: Jun 2002
Location: Vancity
Posts: 1,365
Thanked 156 Times in 63 Posts
do you guys think the burquitlam area will start to boom as well? they currently finished a condo near lougheed mall. i don't know if i want to live so far out though but if that area is going to be developed then i wouldn't mind.

i think i saw somewhere in the previous pages, should i buy presale or once it's completed?
yameen is offline   Reply With Quote
Old 04-27-2016, 02:54 PM   #5910
Head of HR....have a seat on that couch
 
fliptuner's Avatar
 
Join Date: Jan 2003
Location: Coquitlam
Posts: 21,864
Thanked 15,572 Times in 4,314 Posts
It already is. Compare it to what it was 5 years ago.



How long do you guys think the market will continue to rise at this pace (let's say 10-20%, annually)?
If and when it flattens out, what do you think will be the cause(s) (interest rates, gov't regulation, etc.)?
__________________
feedback

Originally posted by v.b.
can we stop, my pussy hurts...
Originally posted by asian_XL
fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol
Originally posted by Fei-Ji
haha i can taste the cum in my mouth
Originally posted by FastAnna
when I was 13 I wanted to be a video hoe so bad


RSUV #7

Last edited by fliptuner; 04-27-2016 at 03:03 PM.
fliptuner is offline   Reply With Quote
Old 04-27-2016, 03:32 PM   #5911
RS has made me the bitter person i am today!
 
Hehe's Avatar
 
Join Date: Dec 2002
Location: YVR/TPE
Posts: 4,580
Thanked 2,732 Times in 1,168 Posts
Quote:
Originally Posted by fliptuner View Post
How long do you guys think the market will continue to rise at this pace (let's say 10-20%, annually)?
If and when it flattens out, what do you think will be the cause(s) (interest rates, gov't regulation, etc.)?
It's anybody's guess really.

A few thing to look for though:

Market tends to overshoot (in both up and downward directions) before start changing course.

So, when you start seeing price to increase slower but volume decreases faster for 2-3 consecutive quarters YOY, I'd say that's a hint of market reaching the very peak.

It signals that the price has reached a point where fewer people are able to get into the market excluding other external variables (interest rate, economy... etc). Thus people might still pay a premium on it, but those are either the last dumbass to get in, or they simply have too much resources.

As for what factor could trigger it beyond market forces, it can be many things as there's a huge amount of speculation in GVR market. Interest rate hike can be one, any sort of gov't intervention can be another (although unlikely as it's against BC gov't interest to do so), even a natural causes (disease outbreak, earthquake and so on), or foreign interference (economic crisis in US, China... etc)

Ultimately, it still has to do with economic fundamentals. Either the general rent, income or job opportunities keep up with the increase (meaning there's more people able to buy into the market), or it's just a bubble waiting to be popped. A bubble in any assets would never stagnate, it either continues to grow, or it would start deflating. The only question is the speed it deflates. It can pop or do so in a very long term (a la Japan) until real prices matches again with economic fundamentals.
__________________
Nothing for now
Hehe is online now   Reply With Quote
This post thanked by:
Old 04-27-2016, 03:40 PM   #5912
RS has made me the bitter person i am today!
 
Join Date: Apr 2001
Posts: 4,964
Thanked 2,451 Times in 1,123 Posts
Quote:
Originally Posted by yameen View Post
do you guys think the burquitlam area will start to boom as well? they currently finished a condo near lougheed mall. i don't know if i want to live so far out though but if that area is going to be developed then i wouldn't mind.

i think i saw somewhere in the previous pages, should i buy presale or once it's completed?
Burquitlam is far?

I think Burquitlam is probably the next Brentwood. Lougheed is set to undergo a major re-development like Brentwood. There are lots of older 3-4 story walk-ups that are probably going to be bought out over the next decade as they become too expensive to maintain. My wife's hairdresser bought into one of these buildings a while back and the owners agreed to take an offer from one of the major developers at 50K over assessed value per unit.

Quote:
Originally Posted by fliptuner View Post
How long do you guys think the market will continue to rise at this pace (let's say 10-20%, annually)?
If and when it flattens out, what do you think will be the cause(s) (interest rates, gov't regulation, etc.)?
A few factors come to mind:

- When the Chinese government starts to really crack down on capital flight
- When the first wave of milennials who are expanding their families give the middle finger and move out of Metro Vancouver or have finished upgrading from their starter condos
- When interest rates rise to the 4% range
- Act of God - earthquake, etc.

It has to stop at some point, but who knows?
Tapioca is offline   Reply With Quote
This post thanked by:
Old 04-27-2016, 08:22 PM   #5913
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Posts: 36,279
Thanked 14,238 Times in 5,599 Posts
Quote:
Originally Posted by yameen View Post
do you guys think the burquitlam area will start to boom as well? they currently finished a condo near lougheed mall. i don't know if i want to live so far out though but if that area is going to be developed then i wouldn't mind.

i think i saw somewhere in the previous pages, should i buy presale or once it's completed?
As I posted before, Lougheed mall is set for 25+ high rises in redevelopment of the mall over the next 30 years. Some are zoned to be 60 stories+
__________________
Dank memes cant melt steel beams
Hondaracer is online now   Reply With Quote
Old 04-27-2016, 10:35 PM   #5914
Even when im right, revscene.net is still right!
 
Join Date: Jan 2013
Location: Vancouver
Posts: 1,378
Thanked 600 Times in 201 Posts
Is the rate of increase in condos/townhouses now faster than detached??

It seems like people are moving towards multi-family now that 10 year old or less detached homes in Vancouver (not Greater Vancouver) are now starting at $1.6-$1.8m
Special K is offline   Reply With Quote
Old 04-27-2016, 10:57 PM   #5915
RS has made me the bitter person i am today!
 
Join Date: Apr 2001
Posts: 4,964
Thanked 2,451 Times in 1,123 Posts
Quote:
Originally Posted by Special K View Post
Is the rate of increase in condos/townhouses now faster than detached??

It seems like people are moving towards multi-family now that 10 year old or less detached homes in Vancouver (not Greater Vancouver) are now starting at $1.6-$1.8m
I'm not sure what's happening in other areas, but I can offer my observations on the areas I know.

Condos in the Brentwood area have increased nearly 20% over the last quarter. Townhouses in Burnaby generally have increased by the same amount - probably more, depending on the area (Metrotown, Lougheed Mall).

Multi-family in the Tri-Cities is through the roof right now. The vast majority of the townhouses in "desirable" areas such as Westwood Plateau, Burke Mountain, Heritage Mountain/Woods, and Klahanie are going above asking. Based on my observations and my brief access to sales data, I would say that benchmark prices for townhouses have gone up by at least 25% since last fall.
Tapioca is offline   Reply With Quote
This post thanked by:
Old 04-28-2016, 12:51 AM   #5916
I keep RS good
 
Ulic Qel-Droma's Avatar
 
Join Date: May 2001
Location: Cosmos
Posts: 28,661
Thanked 5,538 Times in 1,502 Posts
it aint real cash till it's in the bank.
Ulic Qel-Droma is offline   Reply With Quote
This post thanked by:
Old 04-28-2016, 06:11 AM   #5917
I *heart* Revscene.net very Muchie
 
Join Date: Jun 2002
Location: Vancouver
Posts: 3,641
Thanked 596 Times in 339 Posts
A 2 year old townhouse just sold for $1.14mil in my area (River District) just recently. Barely lasted 4 days. My neighbor offered $1mill with zero subjects including a $50,000 deposit on the spot and they still got outbid. These townhomes were $800,000 brand new. I'm not sure what the original owners asking was though. As for my apartment I bought it at $310,000 2 years ago and last assessment is $350,000.
6thGear. is offline   Reply With Quote
Old 04-28-2016, 07:20 AM   #5918
I contribute to threads in the offtopic forum
 
Join Date: Jun 2006
Location: not vancouver
Posts: 2,642
Thanked 1,941 Times in 765 Posts
hysteria, that's all it is with locals.

it happens every so often in all assets, from tulips, to equities, bonds, and right now real estate in vancouver.

it comes, it goes. those that win, cash out when the time is right - only difference here is that a family home isn't really an investment like equities that can be emotionless-ly cashed out.

ok, so the real winners are those that bought rental properties with yield back in the day that cash out.
4444 is offline   Reply With Quote
Old 04-28-2016, 07:42 AM   #5919
I told him no, what y'all do?
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 9,809
Thanked 5,785 Times in 2,492 Posts
Quote:
Originally Posted by fliptuner View Post
How long do you guys think the market will continue to rise at this pace (let's say 10-20%, annually)?
If and when it flattens out, what do you think will be the cause(s) (interest rates, gov't regulation, etc.)?
my guess is when young 2 income families can no longer afford to buy these strata homes. a million for a TH holy shit....when 2 br condos get out of reach i think there's going to be some change in activity since at that point what other buying options are there other than moving or renting...
__________________
Feedback
http://www.revscene.net/forums/showthread.php?t=611711

Quote:
Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity
Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW is offline   Reply With Quote
Old 04-28-2016, 07:53 AM   #5920
Willing to sell body for a few minutes on RS
 
westopher's Avatar
 
Join Date: Apr 2011
Location: North vancouver
Posts: 12,030
Thanked 31,020 Times in 7,110 Posts
With the rental market in such a frenzy because of low vacancy rate and so many people trying to cash in, thats even killing that option. I have so many friends who have been given 2 months notice to vacate because their landlord wants to sell.
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever View Post
Westopher is correct.
Quote:
Originally Posted by fsy82 View Post
seems like you got a dick up your ass well..get that checked
Quote:
Originally Posted by punkwax View Post
Well.. I’d hate to be the first to say it, but Westopher is correct.
westopher is online now   Reply With Quote
This post thanked by:
Old 04-28-2016, 08:08 AM   #5921
I subscribe to Revscene
 
dat_steve's Avatar
 
Join Date: Jun 2006
Location: Vancouver
Posts: 1,908
Thanked 842 Times in 364 Posts
affordability is a matter of perception and values. if you want a single detached, you're going to have to compromise in some way or form. either live with the fact that you will forever be your bank's bitch fuckb0i, or you need to adjust what you perceive to be important.

My answer? Polygamy, baby. the traditional family structure just isn't as important as having a yard. when dual income won't cut it anymore it's time to think of triple (sky's the limit here) incomes to service that debt. bam - that's compromise. *mic drop
dat_steve is offline   Reply With Quote
Old 04-28-2016, 08:18 AM   #5922
Head of HR....have a seat on that couch
 
fliptuner's Avatar
 
Join Date: Jan 2003
Location: Coquitlam
Posts: 21,864
Thanked 15,572 Times in 4,314 Posts
Quote:
Originally Posted by GLOW View Post
my guess is when young 2 income families can no longer afford to buy these strata homes. a million for a TH holy shit....when 2 br condos get out of reach i think there's going to be some change in activity since at that point what other buying options are there other than moving or renting...
The opposite is happening in my area, where locals can't or won't compete for detaches that are 40-60% more than 2 years ago. So the foreign money and investors are getting the houses and locals are taking a step back and getting into larger townhomes. From Nov to Feb, TH's in Poco have gone up over 30% from my observation. It's ironic that by not buying that house and just upgrading from a condo to TH or 3br TH to a 4br, they're seeing better returns and living more within their means. It might not be their preferred living situation but right now, I'd say it's totally worth it.
__________________
feedback

Originally posted by v.b.
can we stop, my pussy hurts...
Originally posted by asian_XL
fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol
Originally posted by Fei-Ji
haha i can taste the cum in my mouth
Originally posted by FastAnna
when I was 13 I wanted to be a video hoe so bad


RSUV #7
fliptuner is offline   Reply With Quote
Old 04-28-2016, 08:19 AM   #5923
RS has made me the bitter person i am today!
 
Join Date: Apr 2001
Posts: 4,964
Thanked 2,451 Times in 1,123 Posts
Quote:
Originally Posted by Ulic Qel-Droma View Post
it aint real cash till it's in the bank.
Well, if you've got a HELOC, rising equity means you can borrow more money for investing (or spending on something silly, like a modern European luxury car). CIBC is offering HELOCs at prime in Greater Toronto which is a crazy "deal". Who knows if they'll be offering this product to people in Vancouver?

Quote:
Originally Posted by 6thGear. View Post
As for my apartment I bought it at $310,000 2 years ago and last assessment is $350,000.
Assessed value doesn't mean anything these days. Our previous condo was assessed at 406K and similar units are now selling for over 500K.

Quote:
Originally Posted by GLOW View Post
my guess is when young 2 income families can no longer afford to buy these strata homes. a million for a TH holy shit....when 2 br condos get out of reach i think there's going to be some change in activity since at that point what other buying options are there other than moving or renting...
My guess is people will keep moving further out, like Maple Ridge or Aldergrove, until they can afford a suitable home. New high-rises are being built everywhere outside of the City of Vancouver, so 2-bedroom units will still be within reach for above-average 2-income families as long as interest rates remain fairly low.

Quote:
With the rental market in such a frenzy because of low vacancy rate and so many people trying to cash in, thats even killing that option. I have so many friends who have been given 2 months notice to vacate because their landlord wants to sell.
Or others have landlords who raise rates against the amount set by the RTA just because they can. Even if a landlord loses a hearing and has to pay 2-months rent, it's worth the risk because the demand for rental units in premium locations (i.e. anything in the City of Vancouver) is so high.

The market rent for a typical 2-bedroom high-rise condo in Burnaby is 1800-2000/month. That's still a deal considering the carrying cost of that condo for an owner based on a 10% down payment is still 2600-2800/month.
Tapioca is offline   Reply With Quote
Old 04-28-2016, 09:20 AM   #5924
I WANT MY 10 YEARS BACK FROM RS.net!
 
twitchyzero's Avatar
 
Join Date: Oct 2007
Location: Vancouver BC
Posts: 22,002
Thanked 9,785 Times in 3,891 Posts
Quote:
Originally Posted by westopher View Post
I only want money so I can get the things I want, so giving up what I want for money doesn't make sense.
Living somewhere I don't love with 40-50k extra in my bank account will not add to my quality of life.
This is my biggest gripe in this city, is that all I ever hear anyone talk about, is investing and money, and everybody talks about it like they know what the fuck they are talking about. People should worry more about what that money can do for their quality of life instead of being willing to sacrifice enjoyment for more money. Its the most widespread addiction I see.
*edit not trying to totally sound off at you about the question, as its totally legit, but it just brings up a gripe I have with most people I meet on a daily basis.
Why does it bother you so much? May be they're saving it for retirement/healthcare/travel or even helping family out. Everyone has their preference/reason in the way their finances are managed

Some may wanna spend it on depreciating assets like cars in their 20-30s while others are trying to look long term. Different strokes.

Last edited by twitchyzero; 04-28-2016 at 09:25 AM.
twitchyzero is online now   Reply With Quote
Old 04-28-2016, 09:27 AM   #5925
Willing to sell body for a few minutes on RS
 
westopher's Avatar
 
Join Date: Apr 2011
Location: North vancouver
Posts: 12,030
Thanked 31,020 Times in 7,110 Posts
When its ALL anyone talks about.
MONEY money money money money. It bothers me a lot. When I sit down with someone for the first time and the conversation goes straight to money, its annoying, and its tacky as fuck.
I don't have a problem with what people DO with their money, I have a problem when its all anyone wants to talk about. Its very different.
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever View Post
Westopher is correct.
Quote:
Originally Posted by fsy82 View Post
seems like you got a dick up your ass well..get that checked
Quote:
Originally Posted by punkwax View Post
Well.. I’d hate to be the first to say it, but Westopher is correct.
westopher is online now   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 05:24 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net