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Vancouver Off-Topic / Current EventsThe 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.
As you may or may not know - this guy's the perennial down and depressing guy on VanRE not long ago. I guess some recent corporate advertisers and sponsors turned his angle around.
Add 35k more and you'd be able to buy a 2bdrm 2XXX sqft (i don't remember) penthouse in my building in Surrey with a sick ass view facing west/north/northwest.
Add 35k more and you'd be able to buy a 2bdrm 2XXX sqft (i don't remember) penthouse in my building in Surrey with a sick ass view facing west/north/northwest.
Probably cause he'll need to add 35km to his commute.
I recognized this home as one that was for sale recently. I believe the one moored behind it is also for sale. I was never seriously interested in a float home but this one was the cheapest one I could find at the time.
Float home sinks into B.C.'s Fraser River
Crews say salvage of the Richmond property could cost $50K
Spoiler!
Quote:
A float home in Richmond, B.C. has tipped into the Fraser River and crews say it could cost tens of thousands of dollars to get it out.
The owner and another man were doing some home repairs on the deck on Monday when the boards cracked, spilling them into the Fraser River.
Neither of them was hurt, but on Tuesday the home appeared to be resting on the bottom of the river, with everything inside the home submerged.
Salvage company says it will cost at least $50,000 to move this #floathome that tipped over in #RichmondBC. pic.twitter.com/4wNzFNpdF3
— @anitabathe
Marina manager Norman Marcus said the dock was the only thing that stopped the house from rolling over completely.
He said he's never seen anything like it in six years of experience.
"I was doing some other work and my son yelled at me and said 'a float home has rolled over,' and I said, 'Can't be.'"
float home sinking richmond
The dock is said to have stopped the house from completely tipping over. (CBC)
He said the owner was "in shock" on Monday but seemed to be doing better by Tuesday.
Salvage crews told CBC News it will likely be extremely difficult to remove the home. They said it could cost up to $50,000 to salvage the building, which is worth around $100,000.
Add 35k more and you'd be able to buy a 2bdrm 2XXX sqft (i don't remember) penthouse in my building in Surrey with a sick ass view facing west/north/northwest.
Ever since this happened,
I refuse to step anywhere near a Surrey penthouse.
I guess the outbidding continues as a realtor selling a similar unit as mine came to my door saying he sold 3 doors down from me listed at $990,000 sold at $1,090,000 with 12 offers over asking. Shit is crazy. I told him if he can get me 1.3 i might consider. I paid $850 2 years ago.
Add 35k more and you'd be able to buy a 2bdrm 2XXX sqft (i don't remember) penthouse in my building in Surrey with a sick ass view facing west/north/northwest.
What happened to the virtues of 'rent and invest the difference' that's been harped over and over again in this thread
I think the rental market drying up and pricing what it is now is also driving many to buy or consider to buy. There's not much 'investing the difference' with rents where they are now.
So really the only advantage of renting now is being able to pick up and leave for better job/career opportunities. But when Joe Schmoe can put a down payment on a presale unit and net $100k+ re-asssigning the contract as it near completion 2 years later, you can practically have your cake and eat it too. Why bother with career mobility at this point, when you can work your day job and score some huge returns literally not doing a thing.
Yes the good times will come to an end, at some point. Til then we just keep yolo'ing along lol
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Quote:
Originally Posted by UFO
I think the rental market drying up and pricing what it is now is also driving many to buy or consider to buy. There's not much 'investing the difference' with rents where they are now.
So really the only advantage of renting now is being able to pick up and leave for better job/career opportunities. But when Joe Schmoe can put a down payment on a presale unit and net $100k+ re-asssigning the contract as it near completion 2 years later, you can practically have your cake and eat it too. Why bother with career mobility at this point, when you can work your day job and score some huge returns literally not doing a thing.
Yes the good times will come to an end, at some point. Til then we just keep yolo'ing along lol
so so true lol. my gf and I made somewhere between 80-90k net profit and it hasn't even lapsed a year yet. That being said we will not be reassigning as we've been priced out.
Never thought a 1 bdrm and den in coquitlam and new west would go for 500k. Even if you wanted to play you'll need 100k at the ready for most presales now.
Warren Buffet buys big stake in Home Capital, citing that its a strong business. So much for the doomsday gloomers who saw Home Capital ad a sign of the beginning of the end.
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Quote:
Originally Posted by skyxx
Sonick is a genius. I won't go into detail what's so great about his post. But it's damn good!
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My buddy bought 40,000 $ worth of shares at $8/share. I told him he was a dumbass when he held kept holding it after it hit $10.. he's selling today #fuck #missedout
Buffett saw a deal on a sound business in a country with a lot of economic upside. He pretty much said he's not bullish on the Canadian housing market.
Warren Buffett may have thrown a lifeline to embattled Canadian alternative lender Home Capital Group Inc., but that doesn’t mean he’s as enthused about the nation’s soaring housing markets.
“I’m bullish on Canada,” Buffett said, according to a transcript Toronto’s Globe and Mail newspaper published Saturday of a June 22 interview with the legendary investor. “Being bullish on a country doesn’t automatically make you bullish on the housing market.”
On June 21, Buffett’s Berkshire Hathaway Inc. agreed to take a 38 percent stake in Home Capital for about C$400 million ($302 million) and provide a line of credit. The Canadian company’s stock has risen more than 24 percent since then.
“Prices have gone up a lot, and if you’re lending money on housing, you’d rather not have it having gone up that much,” Buffett told the Globe. “You’ve got to be more careful, obviously, the higher prices get.”
Canada’s home-price escalation has been driven primarily by two cities. In Toronto, average home prices have soared 130 percent in the past decade, reaching C$863,910 in May. In Vancouver, prices have risen 115 percent to C$1.1 million in the same period. Buffett said the investment doesn’t reflect an assessment of whether those will go up or down. “I do not know that,” he said.
Buffett said Berkshire Hathaway has confidence in Home Capital’s board and doesn’t plan to exit its investment quickly. “We’re not buying it to resell in four months or next year or anything of the sort,” he said.
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"Damn fine car Dodge... Ran over me wife with a Dodge!", Zeke
We're not buying it to resell in four months or next year or anything of the sort
Bahahaha... of course he's gonna say that, do they really expect Buffett to say "we are only looking this in the short term". BRK is out to make money. At the price that BRK paid for Home Capital, it already made 50%, plus whatever term they have on the 2B loan.
The day BRK announces that it had unloaded all its holdings, Home Capital would come crashing down... and BRK basically made a fortune because it's cash-rich.
Bahahaha... of course he's gonna say that, do they really expect Buffett to say "we are only looking this in the short term". BRK is out to make money. At the price that BRK paid for Home Capital, it already made 50%, plus whatever term they have on the 2B loan.
The day BRK announces that it had unloaded all its holdings, Home Capital would come crashing down... and BRK basically made a fortune because it's cash-rich.
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