A little too late on this one.

'The time has come,' City of Richmond puts halt on mega homes on farmland - British Columbia - CBC News

A story about an actual deal with the BC HOME program:

Home search: Interest-free B.C. government loan helps local nurse buy rental dwelling | Georgia Straight Vancouver's News & Entertainment Weekly

Normally the Straight publishes stories about renters getting evicted, but I guess they have to play both sides of the real estate issue.

Cue the haters!

This is why we can't have nice things.....

:fulloffuck:

^Punjabi Farmer families, 4 generations under one roof.

i used to live in richmond, those houses are monstrosities. i don't think any of them are nice at all.

Any mortgage brokers here? I just started for CIBC. The market is heating up. Discussions with realtors has me excited for the next few months!

If anyone ever wonders how the majority of those monstrosities are paid for (let's face it they are almost all EI families with 10-20 people living there) my mom used to do mortgages from time to time for them until they stopped giving them out at her bank.

Actually it's not a mortgage, most of the time it's just a line of credit. Basically pool together as much money as humanly possible for some of the build cost/downpayment. They then get these massive lines of credit (were talking 1.5-4mill) with 8-10 co-signers. In almost every case very little if any is paid off the principle and only the interest is paid on a month to month basis.

This was on the market for few years, looks like someone bought it

12133 No.3 Road, Gilmore, Richmond (R2066397)

^LOL enjoy your sunny "Tuscan" lifestyle in the rain 8 months of the year.

FFS Vancouver, get a grip.

my god..26 million toasted like that on a house that looks like a large box...no thanks.

This is what I don't get.
If I was an offshore millionaire I would settle in California where you can actually enjoy the weather and the feeling of sun on your skin for 11.5 months a year.

Vancouver has great marketing. But it's depressing here for at least half the year.

Anyone buying that house could buy a place on the beach in cali, Europe, etc

Know quite a few people who live 6 months away and the summer months in Vancouver, seems like a pretty good arrangement to me

Nothing says you've made more it than living in a mansion on a 2 lane road with utility poles and ditches on either side of it.

https://goo.gl/maps/rNCPdGy3tPC2



Also, I think the demographic buying these houses don't like the sun too much either :D
http://farm4.static.flickr.com/3190/...281cc1.jpg?v=0

^ its okay, theres a 700lb door to block the plebs

Selling my apartment. Is pretty crazy. When I purchase it a few years ago it 300k. Now I can sell it 450k and I have ppl lining up wanting to buy it right now. This market is scaring the shit out of me.

A one bedroom 500sq ft tiny apartment should not be selling for 450k......

If you think that's bad, Westbank's new tower downtown is supposed to sell for $2000/sqft. A cool million for a 500sqft box in the sky. 900/sqft seems like a bargain, but then again that's downtown vs metrotown.

Dont you know the ones that come here have spent their whole life avoiding the sun under AC. This is the perfect climate for them.

I'd rather the EI megafamilies do that on ALR than taking up 10 parking spots on a normal block for every house.

I haven't come across any properties in Van so far that work well for me. Pretty limited selection and I just don't feel most of them offer good value

Signed papers for my first place few weeks ago. So glad I finally got it over with.
Started looking 2 years ago and just kept slowly seeing the prices rise and rise.

Congrats!

It's crazy this ride we've been on with a lot of us having the same mind set no matter if it was 4 years ago, 2 years ago, or today.

I started looking at the beginning of 2015 and didn't end up buying a presale until early 2016. Took 14 months of searching and during those 14 months I was getting worried because prices were going up steadily and now as I wait for my townhome to finish I'm laughing but at the same time going wtf?

logged in to thank your comment

parking is just up the wazoo in east van with laneway houses and I feel it's only going to get worse 5-10 years from now. I'm sure it's probably just as bad on the north shore and in Burnaby

on a related note, the gentrification on my block is becoming more noticeable. late model BMW M, Maserati, etc. Not the norm but feels more visible now.

then again I go into latest pic of my whip thread and every 2nd ex-import owner also seems to be driving Porsche and M cars now :tears:

Its dollar for dollar. But if you look at the flip side if prices never rose for bigger apartments TH houses your tiny 1 bedroom wouldn't have rose for you to profit $150K. It's all relevant

Congrats.

Was tired of everyone overbidding for units that weren't desirable. So i bought a presale 8 months ago. So glad Im in and its over with.

nothing is worth your hard earned dollars. Every property is currently at X2 of its value.
I was worried it would slide back two years ago, and prices only rose from 280k, to 380k, to 480k this year. Jokes on me.
Only difference is two years ago i did not even have 5% down, now i have over 10%, but who cares when prices rose 200k.

Only one thing will cause a crash. Interest rates rising. Its starting in the US, but it has not hit canada yet.

On a side note, bid on two more properties, overbid by 35 and 25k
:pokerface: