It's a buyer's market now - if you'd like pls reach out to us at info @ presales-vip.com. Our services is success based and developers pay our fees end of the day.

Lots of variables instead of me listing out what I've seen recently, easier to have you mention areas, budget, size, and then we recommend based on your needs.

Are you set on brand new? I was on the boat in the beginning but shifted to a few years old and the bang for your buck is significantly better.

I'm still waiting on the market, but every day I'm getting more and more hits, prices are dropping, albeit, slowly.

https://www.theglobeandmail.com/poli...pending-aimed/

"It’s not a loan - the 10% is owned by CMHC, so they would get 10% back upon sale (or whenever you choose to buy it back from them)"

LOL so is not a loan from the gov... who would want to use this gov program?!

Great. That's like 90% of the Asians in Richmond. LUL

People who’s parents aren’t giving them a down payment, or those that are not living at home until they are 30 to save one themselves.

who wouldn't?

HappySilp already gave us the blueprint on how to afford a place.

1. Leech off your parents as long as you can, possibly wait till they die and inherit their house.

2. Never spend a dime in your 20's on anything but the bare necessities. If for some reason you find yourself cracking a smile then you're clearly not working hard enough. You can enjoy life when you're 70.

3. Preferably find a time machine and buy back when prices were sane. This part is great because you already have a place and you can tell everyone that's trying to buy in the shit show that happens a decade later that they aren't working hard enough while your house doubled in price in 5 years. That's not luck, that's just being smart enough to be born at a certain time.

@MarkyMark

If you ain't smart enough to be born at the right time. You don't deserve to buy :)

4. Prenup in case dat China ho try sumting! Or just forget dating altogether cause them ho be trying to get the house!

Well, he's mentioned he's single so this point is moot. "Sorry, can't go on any dates, I'm saving for a house."

You people do know that that extra 10% of your mortgage works to be around $200 max every month (most likely even less) yet you are giving away 10% equity of your home away. Also you have no idea how the gov will react will you sell your place? Will they only take 10% of the price you sold your place? Will they take 10% + interest if you sold your place at a gain? What if you sold at a lose will the gov still take 10% anyways? What if you start a family and wanted to change your mortgage so you can pay it off faster? Way too details the gov did not include.

In the big picture it doesn't help anyone. Is like BC giving away free money for first time home buyers. What really reduce young people/family purchasing power right now is the stress test and the tightening of borrowing money from banks. Bring back 30 years mortgage and reduce the stress test so people actually have more buying power instead of this half ass bake idea which sounds good on paper but doesn't help anyone but to buy votes for the gov.

I'm not sure about reducing the stress test. It was brought in to save people from themselves. It's all good well interest rates are still low which they've been for a long time but once they rise and people have to reknew their mortgages combined with housing prices coming down and negative equity that's when shit hits the fan.

Stress test and loan restriction is there so you don't default on your house if/when rates hit the fan, guy. Educate yourself...

There's a growing number in Queensbourgh. If you don't mind driving daily.

TBH I don't see how that one single access point on Howe and 91 can support the growth for QB. They really need to build a pedestrian bridge or local road to connect QB residences from the west side to New West.

Fair point. However, don't you think you are passing judgment a little prematurely given that the gov't has yet to release actual details outlining the intricacies of the program? Those won't be available until sometime in the fall. Personally, i'll take a wait and see approach.

I assume sold out means sold out to realtors holding multiple units?

Sold out to China money who need to look at the map of Vancouver. How is oakridge center worth $2000 sq/ft when you can buy ready to move in new condos in downtown.

mainlanders. now i know to avoid oakridge in the future.

but is the stress test creating secondary loans aka heloc on parents place :badpokerface: especially on first time home buyers like younger folks.

^^Not likely, banks are clamped down so tight and are focusing much more so on cash flow and debt servitude rather than asset driven for loans.

maybe, but also, the development was really agressive with their advertisement. I remember seeing ads on it on my Air Canada flights to Asia last month.

I think out of that $2000/sqft, a big chunk of it is going towards the marketing/advertisement fees.

I haven't seen that many pop up for under $700 right now. A few in Coquitlam. Surrey and Delta.

It's not true. I was at the event at the CNY celebration. The key buyers were people who are 55-75yr old with 2.5 - 4.5M houses in Vancouver (pretty normal that around and part of town) who just can't handle living in a house. 2 people with 5 bedrooms 3,000 - 5,000sq ft house when their kids were still young.

What's the option? Apartments
Don't want to move to a different area = Oakridge / these new apartments are their solution.

I can't speak for all realtors but DANGGGG if anyone has the cash to hold?? now is well.... well deserved if they have the cash.

CRA executes search warrants on Vancouver properties in tax evasion case

https://www.cbc.ca/news/politics/can...uver-1.5075426

Total noob post but bear with me.

Yesterday my wife and I had the day off, went to tswassen mills to wander around and have lunch. On the way out we saw the startings if some huge developements right across the street. The 3 main groups we saw were

West Coast Estates ? TSAWWASSEN
https://www.onni.com/tsawwassenlanding/
https://tsawwassenshores.com

Websites are pretty vague with details. I do really like the area, but is that not First Nations land? I’m not sure what you call it when developers “lease” the land for like 100 years or something. Say a detached home starts at 600k, that just covers materials and building, not the land. So what happens after you pay your mortgage and want to give the house to your children?

I may be totally wrong but you guys have a lot of experience, maybe you can shed some light. Bad buy?