| |
Quote:
... unless I'm wrong and those are just all headline news to keep outsiders out from truly a nice place. Like how we tell our friends from ON ... it rains here so much, don't move here man. |
Quote:
|
Quote:
Total randoms... probably not worth the risk. |
Quote:
|
Quote:
Quote:
Oh and those new apartments they're putting in are going to be terrible. At least the ones being crammed in around my house where they're adding a few thousand units within about a 5 block half radius will be, I haven't seen what they're doing to fuck up the other parts of town. There's going to be fewer parking spaces than units to begin with, and there's no street parking, and they're sticking them in places where the roads are already clogged. Oh and they're taller than they're supposed to be. There are bylaws limiting height but apparently that doesn't matter because the developers claim it's not profitable to build unless the place is more than twice the height it's supposed to be. aka someone is paying off someone else. /rant To be fair to Kelowna, it's all relative to what you're used to, and I look at this place with shit coloured glasses because it has changed a lot over the years and none of those changes have been improvements. Which has made me extra salty since I'm stuck here for a looooong time. |
Quote:
|
Just overheard two people talking about how one of them bought a house in 2019 for $1.5M and the other person saying how much of a great deal that is. The guy who bought the house said his mortgage payment was just over $5k/ month and they're on a pretty tight budget right now. It's just crazy to think that anyone looking for a house right now would jump on a detached in Vancouver for $1.5M, but to have a $5k mortgage payment.. And that's JUST mortgage.. Let alone expense like property tax, utilities, etc. I was thinking about how much money our government spent during the last couple of years... We can't default on our payments, can we? I'm not even sure how that works |
Yea I'm not sure what's going on with the prices right now. $700k for one bed doesn't make sense, young ppl who will want those units most likely can't afford it, ppl who want to invest can't get enough returns out of them. Unless we Jack up rent? But there's too many rules and regulation controlling that. And do you want to rely on one tennant over $700k? The risk is too high. Does anyone know if we have anything like the States where they invest in real estate? Not really commercial reits. But I've heard about fund rise. Seems like a safer bet than dumping that much money on one unit. :pokerface: |
Every time that there has been a spike in the market like this (2005-2007 and 2015/2016), the values have never made sense at the time. It seems to be perfect storm right now: - Inventory for ground-oriented homes (detached and townhomes) is the lowest it has been in several years - Low variable rates - Workplace changes as a result of the pandemic - Substantial salary inflation in certain industries, such as tech - Wealth transfer from boomers/late-Xers to millennials/generation Z - Last gasp for millennials to enter the housing market or upgrade |
Someone sold a 15-year-old unit across the street from me for $610K, non-renovated, smaller sqft. At this point, I might consider listing my place for like $650K lol and go back to roommating. Anyone ever considered moving to Calgary? I've been looking at 3 BR new build houses there for $600 - 700K. Their roads also look more fun to drive on. Quote:
|
I'm considering this too. Like just rage quit, sell assets or rent out and move to somewhere with cheaper costs like Calgary Edmonton, Nova Scotia? And just travel, live somewhere in Asia with a lower cost of living like Thailand, Bali? Cuz for the price of a one bed here I can buy a pretty big house in other provinces. Rent out basement? Have room for toys? :pokerface: |
Quote:
|
Pay is higher in lots of sectors in Calgary and edmonton. Really depends what you do. If you aren’t interested in spending lots of time outside, edmonton is a good option. Calgary is good if you are interested in mountain living as well as a big city atmosphere. Obviously the weather fucking sucks in both cities. Calgary is full of pricks. Edmonton is a very good city socially in comparison to Calgary and vancouver. |
Quote:
https://www150.statcan.gc.ca/t1/tbl1...101%2C20190101 When I checked the stats for finance and accounting it seems like they paid 10 - 20% more but you'd have to likely work in oil and gas instead of tech and real estate. Quote:
|
If you think sunlight and -25 is nice, I guess it’s subjective. I’ll take rain and 6 degrees over that. |
Quote:
|
Thanks for the update feedback on Kelowna ... I haven't been there for a few years either, since Covid and already it was terrible. So both of you confirmed the trajectory .. which is shitz. And yah, one of you mentioned the forest fire and all in addition to all the other stuff. No thanks. How's Kamloops ... has it been tainted yet? |
Quote:
As long as you stay outside of downtown Kelowna, I didn't think it was that unsafe. I walked our dog along the marina every night and only 1 night saw a bum riding a bike going through every garbage can looking for cans. We also stayed in Peachland in April and that seemed very safe. Didn't see any homeless people. Downtown Kelowna is a different story. The street where the BC Tree office is looks like DTES with all the homeless people and shopping carts. |
Quote:
|
Quote:
But I agree. A 600k mortgage (say you put 25% down on a 800k 2 bedroom), at 3% interest is $2,900 a month. Add in $400 strata fee and say $200 month for property tax, you are looking at $3,500 a month in expenses if you don't cover utilities. Nobody is going to rent that unit for $3,500/month so that you can even break even. |
Funny you mention BCTF, my dad used to work there. It was in a nice area. I rarely have a reason to go through downtown these days, for a downtown core realistically it's pretty nice but again, it's not as good as it used to be. Quote:
|
|
I stand corrected. |
DT Kelowna gets progressively worse everytime we go. Last time my wife and I went pre pandemic we just avoided DT and went straight to wine country. |
Quote:
|
| All times are GMT -8. The time now is 05:07 PM. | |
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, 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