Also the gov has no incentive for lower prices/ cause a housing collapse. Housing is a cash cow for them, taxes, property transfer taxes, permits, property tax, tax housing related costs. Why would they want cash cow to stop or get reduced.

Keep in mind .25% to 2% seems like only 1.75% but as a percentage increase it’s something like 800% increase or a lot anyways

Technically yes, but no one is getting a .25% mortgage rate. Would be 1.5% (0.25%) to 3.25%. More like 200%.

What's cool is we will see the results a few years from now and reflect on our comments.

First time here?

KEKW

"What’s more likely? That everywhere across Canada is suddenly out of inventory? Or has the “madness” of the crowd taken over?" - BMO chief economist Douglas Porter.

And a lot of people in the RE industry are putting faith in immigration to support their theory that prices will continue to go up but we need to look at where the vast majority of these immigrants are coming from.

If it's India, most of the immigrants arriving are students or low skilled workers who can barely afford to rent let alone buy a $3m Vancouver special. And I don't see a huge surge of rich Chinese immigrants coming in waves like we did back in 2016 so not sure where this millionaire class of immigrants are going to come from.

Anyways, lets see what happens in the coming months.

^^ same with where all the millionaires that came from in the last 2 years when we couldn't blame Chinese buyers.

We are talking specifically Vancouver and Toronto here, I don't have a doubt that Saskatoon will see a crash, but a 20% crash is significantly different here compared to there. Trying to brush Canada with one stroke is not realistic.

Q2 and q3 prices will definitely be flat largely due to seasonality. We are right on pace to mirror last year, when prices went up in q1, flat in q2 and q3, before increasing in q4. Q4 will depend on policy (ie. how high rates are increased).

This is what I'm experiencing right now, I think some of you may understand. I hate people.

Same here, I don't understand how the fuck people even walk. It's literally they stomping on the floor or something. Then they drilling some shit every weekend, I'm like how much shit can you drill inside an apartment LOL.

Buy the penthouse? Then you can do the stomping

Everyone loves hardwood/Laminate floors until they realize it doesn't insulate noises/sounds.

Do you live in a detached house on the ground level or basement?


We live in a two-level Vancouver Special (ground level + level above, no basement), before we renovated you could hear literal word-for-word conversations between the floors.

When we renovated we removed the entire downstairs ceiling and there was absolutely no insulation at all, we added a double layer of Rockwool insulation and then a special resilient channel for the new drywall ceiling, which added an additional $4k to our renovation because we were worried about sound.

While that helped to completely muffle sound (we couldn't hear conversations anymore), it didn't prevent the ground level from hearing footsteps from us above. It's better than it is before, but it still gives me a little anxiety that we make so much noise above because we have small children running around. We try to be respectful, but I suspect it still sucks for the tenants below us.

I will never buy or live in a wood frame building, that's not top floor, ever again.
Some people are just heel walkers, and weight 200-300lbs, that plus hardwood floors, it's simply not their fault. Not to mention owning a dog with ADHD, kids, etc.

Concrete > Any floor
Wood > top floor or bust

We've done the same. Rockwool, resilient channel and 1/2" drywall. I can now blast the TV upstairs and it's fine as long as I don't turn on my downward firing sub. Almost completely blocked out conversation, but nothing I can do about footsteps. You need to have completely separated floor/ceiling in order to isolate steps.

My upstairs kids plays Piano every single day from 7AM to 10AM and like 7PM to 10PM. I almost feel bad for them lol.

Can't tell them to stop either

I’m in a concrete building and it still sucks… they stick such a thin slab between floors nowadays it’s not exactly communist era bomb proof construction anymore.

It’s definitely better than wood, but marginally so.

Even when I lived in a concrete building built in 2000, I could still hear people walking around. When I had to move to Langley, I was able to get a top-floor corner unit.

With RE being so unaffordable, more young families are starting out in condos. I had new neighbors move into the suite below a few months ago. They have a toddler that is always running around (as toddlers do). I can hear that, and I'm above them. I can't imagine being the suite under that.

Concrete or wood frame it really depends on who's living around you. I lived in 3 wood frames and only 1 was noisy as fuck and that was my Surrey unit. Both Vancouver units has been fine other than the noise here and there

Does the rockwool make a noticeable? Right now my plan is just resilient channel + 2 layers of 5/8. Not sure if adding the rockwool is worth the added cost if the gains aren't noticeable.

From my experience concrete has been fine, you might just hear occasional walking in the hallway or talking depending on where your unit is

You don't need rich people to increase house prices

Immigrants, regardless of wage class, increase property values in many direct and indirect ways

-They reduce local renting stock, higher rents, higher value properties
-Economy grows, higher value properties
-Lower income people to come Canada, their friends back home hear about quality of life from them, or whatever, and take their 1mil to buy a home here
-Decrease of immigrants results in possible decrease of population growth, and growth is vital for property value increases

The reasons are endless

I personally think once all these travel restrictions open up globally, and if immigration increases back to how it was, property values will continue to rise. Possibly even at a higher rate than current :nyan:

Hearing noise is normal, I live in a concrete now, I can hear the people upstairs if they have shoes on, or if they have a gathering

But that's normal.

People in Vancouver have this expectation that it's supposed to be SILENT in community living. :joy:

There's people that understand there will be noise, and then there's people that hear a couple footsteps, or a nail being put into a wall, and LOSE IT as if the entire world is about to flop.
People need a reality check, you want silence? Move into a house 50km away from anyone else

Rockwool makes a difference in blocking higher pitch noises and conversation. I went downstairs after just the rockwool with no drywall and it was definitely quieter.

HD sells this stuff called Sonopan. Supposed to be really good and a Canadian product. I was skeptical about it and I had limited ceiling height so I didn't want to take anymore space away, but this video raves about it. For how cheap it is it seems worthwhile to give it a try over two layers of drywall + green glue.


I did go and check it out at HD, I'd assume it's decent. Judging from the video and reading between the lines myself, it won't be a MASSIVE improvement for low frequency noises or foot fall. Better than nothing.