Vancouver's Real Estate Market

[Traum]

Originally Posted by MelonBoy

But hey. The uppers don't care. As long as they line their pockets and create large short term cash to look better(gotta get those annual earnings up). Who gives a fck about long term! Let the future people of bc deal with it

And this is the part that really ticks me off -- esp in the recent leaders debate when Crusty kept accusing Horgan for raiding the future prosperity fund to destroy our children's future, I was just furious. Fxxk you, Crusty! You and your Libs have been the one selling out our province and our future to foreign investors and speculators. And you have the guts to call Horgan out for being that sellout?!

[Mr.HappySilp]

Originally Posted by Traum

And this is the part that really ticks me off -- esp in the recent leaders debate when Crusty kept accusing Horgan for raiding the future prosperity fund to destroy our children's future, I was just furious. Fxxk you, Crusty! You and your Libs have been the one selling out our province and our future to foreign investors and speculators. And you have the guts to call Horgan out for being that sellout?!

Humans are selfish. Hell if I could cash in now but my kids will sleep in a tent I might actually do it. Not that I hate my kids but you got to think will they(your own kids or will the gov take care of you when you retire and grow old. Most likely not. You are on your own.

Is not just me look at all those retire folks who have property and in cashing in for the past 10+ years. Seems to me they are quite happy with the housing market going up and they have a lot of money to retire on when they do sell and downsize or even move away or just travel. My neighbor who bought 4 duplexs when he have the money, sold 2 of them, rent the other one out and have one for him and his wife. The duplex is pretty much his vacation home. He comes back once every few months for a week or two and off again to travel. Didn't leave any to his kids.

[MarkyMark]

I'm sure eventually this will all come to a head for Vancouver and there will be documentaries made about how it all went down, who sold out, and all the behind the scenes bullshit, but that's still far enough away that I don't think you can wait around for the crash anymore. Perhaps if I was in my early 20s it would be different but I don't want to sit around anymore and end up just starting a mortgage in my 40s.

[Hondaracer]

Originally Posted by Mr.HappySilp

Humans are selfish. Hell if I could cash in now but my kids will sleep in a tent I might actually do it. Not that I hate my kids but you got to think will they(your own kids or will the gov take care of you when you retire and grow old. Most likely not. You are on your own.

Is not just me look at all those retire folks who have property and in cashing in for the past 10+ years. Seems to me they are quite happy with the housing market going up and they have a lot of money to retire on when they do sell and downsize or even move away or just travel. My neighbor who bought 4 duplexs when he have the money, sold 2 of them, rent the other one out and have one for him and his wife. The duplex is pretty much his vacation home. He comes back once every few months for a week or two and off again to travel. Didn't leave any to his kids.

it worked for most of those people because many of them had little to nothing for investments or retirement savings.

For every person i know who has a pension, retirement savings, RRSP's, etc. there are 3-4 who lived pay cheque to pay cheque until selling their home and moving to butt fuck no where.

[MrPhreak]

Fuck it... I'm out, shit is going crazy and I am not throwing my entire savings into a dumpy 500sq/ft box

[Tapioca]

Originally Posted by MrPhreak

Fuck it... I'm out, shit is going crazy and I am not throwing my entire savings into a dumpy 500sq/ft box

Downtown Vancouver or nothing!

[Mr.HappySilp]

Originally Posted by Hondaracer

it worked for most of those people because many of them had little to nothing for investments or retirement savings.

For every person i know who has a pension, retirement savings, RRSP's, etc. there are 3-4 who lived pay cheque to pay cheque until selling their home and moving to butt fuck no where.

I think that's the norm these days. That's why when we are young and still able to make decent money we need to st art saving as much as possible for our retirement. Don't expect anyone or the gov when we are old. I willing to bet by the time I retire the gov won't have any pension for me. With the way how the gov pile debt it won't long till we headed the way Greece are now. There most likely won't be any health care benfits, nursing homes, retire centers left.......

[westopher]

Most of us here won't make it to retirement age. With how badly we are fucking the environment up there isn't going to be enough food and water for middle class scum like you and I.

[Traum]

Originally Posted by westopher

Most of us here won't make it to retirement age. With how badly we are fucking the environment up there isn't going to be enough food and water for middle class scum like you and I.

Time to get that end game Porsche / Bimmer before the party's over, right? YOLO

[CL typeS]

Originally Posted by Traum

Time to get that end game Porsche / Bimmer before the party's over, right? YOLO

I honestly think that's the case for some people. Get so fucking depressed and beat down the whole situation and just go blow it all on a civic type r or some shit haha

Make peace that they're gonna be a life renter and just try to enjoy what's left of it

[Manic!]

Originally Posted by Traum

In addition to the ferry, I think a major concern for people about the Island is job opportunities. Not everyone aspires to be a senior care worker in Nanaimo / Duncan or wherever the current senior home care shortage is.

How would you say the job market / employment opportunities are like on the Island?

If you don't like working with old people maybe you could get a job a Tillray growing weed. They are one of the biggest employers in Nanaimo.

In the last 12 months I have seen a lot more Asians move to Nanaimo. You can spot them by the way they dress, the cars they drive, and because they have a hard time speaking English. A lot of them also have a hard time getting gas. That's probably because Richmond is full serve only.

Prices of houses in Nanaimo have gone up a lot in the last 5 years.

[kr4l]

You can probably also spot them because of their skin colour as well..

[minoru_tanaka]

I can tell by their eyes too. I don't know if it's just a skill exclusive to me though.

[Hondaracer]

Lol

[yoursyumiko]

Thinking of buying in New Westminster, but I never lived there before.
What do you guys think about the area?

https://www.rew.ca/properties/R21562...erty_click=map

Particularly this area.

[Hondaracer]

Looks like a nice building.

A lot of new west feels kinda dirt ball but over the last few years it's gotten better imo. People always say being around a skytrain brings crime and vagrants so you're pretty much right at the station there.

I think the area has good potential and along Columbia there is a good selection of bars and restaurants. The revitalization of the waterfront was surprisingly nice when we went there last summer. Cool sand volley ball courts, parks, boardwalk, etc. they did a really nice job there.

I think the area has very good potential and due to the buildings and density already in place there, it will be a matter of tearing down and rebuilding not just building on empty lots ie. Brentwood and Lougheed.

Imo I'd probably prefer to be in a building like that then the ones that are more west between there and the Scott paper mill etc. you have so much more accessibility on foot from there then u do from those western buildings

[Traum]

The area definitely has good potential. The renovated Skytrain station now comes with a nice big Safeway, a bunch of stores and restaurants and is quite decent. The revamped Quay and water front area is also quite nice as well.

Down 2 - 3 blocks to the west, there is a nice big TD, a Save-on-Foods, Boston Pizza, liquor store, etc. The convenience is certainly there.

The Columbia side off to the east is still a bid shady, but I think NW was tearing down the waterfront parkade to rebuild into something else?

The major clusterfuck is traffic. On Stewardson, Royal, Columbia, Front (basically all the nearby major routes), you're fxxked during rush hour -- and rush hour starts some time before 3pm on Royal?

[Acura604]

I've been house shopping for a while now... shortlisted a few..BUT wow, realtors are being dipshits. one lied to me that she was getting a second offer from someone else just so to force my hand and raise my offer. that's illegal and i'd report that whore but i want that house so i'm gonna wait it out.

it's been a terrible experience so far. my realtor that sold my house is a good guy however but most of the other realtors i've met seem uneducated with real real pooor salesmanship.

anyways, i'll be making a decision within april/early may but from what i've seen, most realtors dont give a crap...they know whatever they list will sell and they dont bother putting in the work.

[Tapioca]

They've been talking about New West being Vancouver's Brooklyn for years.

That condo in the Trapp and Holborn building is sold, according to Twitter:

Twitter

Sapperton is a better value right now if you want to be in New West.

If you want value along the Skytrain, look at Moody Centre. Condos there are going for under $500/square foot.

[CivicBlues]

^Acura604, Is your buying realtor named Layla Yang by any chance?
Vancouver realtor accused of making threats - The Globe and Mail

Or work for New Coast Realty?

[Manic!]

Originally Posted by kr4l

You can probably also spot them because of their skin colour as well..

Originally Posted by minoru_tanaka

I can tell by their eyes too. I don't know if it's just a skill exclusive to me though.

No you can't

Nanaimo is a smallish town. No place here sells Prada, Gucci, or LV. So when you see a person covered head to toe in a luxury brand wearing sun glasses and a visor in March you can tell they are new to the city.

[MarkyMark]

Not a huge fan of New West. The traffic blows, a lot of areas look sketchy with bums hanging out, and the hills are a brutal walk lol.

[Urrtoast]

Thats a very busy train track there.

Originally Posted by yoursyumiko

Thinking of buying in New Westminster, but I never lived there before.
What do you guys think about the area?

https://www.rew.ca/properties/R21562...erty_click=map

Particularly this area.

[Tapioca]

Originally Posted by MarkyMark

Not a huge fan of New West. The traffic blows, a lot of areas look sketchy with bums hanging out, and the hills are a brutal walk lol.

New West is appealing to yuppies that work downtown because:

- it has history
- it is connected by Skytrain
- has amenities like the waterfront
- it's grittiness is what makes it appealing

If you grew up south of the Fraser, you probably would never understand the appeal of New West. But if you grew up in say East Van, you would totally get New West and actually like it.

[jcmaz]

Originally Posted by Tapioca

New West is appealing to yuppies that work downtown because:

- it has history
- it is connected by Skytrain
- has amenities like the waterfront
- it's grittiness is what makes it appealing

If you grew up south of the Fraser, you probably would never understand the appeal of New West. But if you grew up in say East Van, you would totally get New West and actually like it.

I've been living one minute away from the New West skytrain station for 10+ years. It's not as bad as people say it is; it used to be hella shady when the Park and Ride was there. Yes there are sketchy characters around New West Station, but Columbia Station is even worse. Today, it's much better with the new (relative term) 30 story high condos, things have cleaned up for the better.

I have no problems walking around that area 1-2am in the morning. Same can't be said about Surrey Central.

Rush hour starts around 4-ish. Sapperton sucks because you have to change trains and walk a longer distance to whenever you're living. With New West, both Expo and Millenium Line trains stop there.

Don't forget Landmark Theaters with assignable seating... Cineplex can suck it.

My favourite part about New West is how central everything is. (Non-rush hour)

Richmond? 20 minute drive
Ski Mountains? 30-40 minute drive
Downtown? 35 minute skytrain
Blaine? 30 minute drive

Most of Metro Vancouver is only 30 minutes away.

Cons? Sure I don't get a garage to work on my cars nor do I get a plot of land, but I'm not paying for a overpriced condo/apartment.

EDIT: How could I forget the rail trains!!!! Although the city banned trains from sounding the horn at night, they still sound off at 2AM in morning. I'm a heavy sleeper so I don't really care. Skytrain sounds could be annoying too.

Last but not least. New West is/was affordable given the shitty wages in this city.