Vancouver's Real Estate Market

[Great68]

Originally Posted by JDMDreams

ability to evict immediately if rent has been missed for more than 2 months. No ifs and buts, try missing your mortgage, car loan or visa payment for 2 months and see what happens.

The current laws on the books allow for eviction notice if rent is missed by only a single day.

The issue is in the delay time for a dispute to be heard by an arbitrator.

All that needs to happen is the RTB needs to be funded for more arbitrators to get hear the cases more quickly, and there needs to be a mechanism that expedites non-payment eviction disputes to the front of that line so that they happen in a week or, not a month.

As Gerbs' mentioned, your mortgage/car loan/visa payment comparison is not a great one. It's up to the individual lender, but generally there will be some grace period. I've never heard of somone missing one payment and a bank immediately being like "Your house is ours now!". It's usually several missed payments, and then the process to foreclose can take MONTHS.

[supafamous]

Originally Posted by quasi

That's all fair, the anoying part is the rest of us can't just go to our employer when our yard has to be dug up because a pipe burst and say shits rough out there going to need a 7% raise this year so just go ahead and do that if you wouldn't mind. There has to be some accountability in lack of fore site, I understand that sometimes it's impossible to plan for the unforeseen but when the tax payers really have no say in how the city manages its money (sometimes really poorly) and any overages are then tossed back on the tax payer to absorb with limited accountability it's kind of frustrating. Sure we can vote them out but cycle just repeats.

Not sure if there is a better way but the entire system can be frustrating at times.

I don't think it's really a lack of foresight - it's generally well known what infrastructure needs to be built/upgraded well in advance but city council has pretty clear direction that voters do not want to pay for things they cannot see or think they cannot use so city council does pretty much exactly what voters want which is to ignore the problem and let the next generation deal with it.

Back to my sewer example - it's been known for a LONG time that upgrades needed to happen and for a long time they were actually making the upgrades until money got tight and people got upset about tax dollars going to things they couldn't see so they stopped upgrading as aggressively. Blame the voters from 10, 20, 30 years ago for resisting necessary upgrades.

Burnaby city council wanted to build a new city hall recently b/c the current one is near end of life but they bungled the roll out of their plan and voters got pissed. Now they'll just nurse the current buildings along for another 10-20 years. I'm not sure if city hall really needed replacement right now but I'm also sure that Burnaby did a horrible job explaining the need for it and that's something that they have to get right.

[MarkyMark]

Originally Posted by Harvey Specter

Sounds like another rate hike might be incoming.

Time for Eby to put some knee pads on

[6793026]

Originally Posted by supafamous

I don't think it's really a lack of foresight - it's generally well known what infrastructure needs to be built/upgraded well in advance but city council has pretty clear direction that voters do not want to pay for things they cannot see or think they cannot use so city council does pretty much exactly what voters want which is to ignore the problem and let the next generation deal with it.

Back to my sewer example - it's been known for a LONG time that upgrades needed to happen and for a long time they were actually making the upgrades until money got tight and people got upset about tax dollars going to things they couldn't see so they stopped upgrading as aggressively. Blame the voters from 10, 20, 30 years ago for resisting necessary upgrades.

Burnaby city council wanted to build a new city hall recently b/c the current one is near end of life but they bungled the roll out of their plan and voters got pissed. Now they'll just nurse the current buildings along for another 10-20 years. I'm not sure if city hall really needed replacement right now but I'm also sure that Burnaby did a horrible job explaining the need for it and that's something that they have to get right.

the city hall looks like a dump and is soooo out dated.
If you look at richmond city hall it's epic
...

[6793026]

Originally Posted by Great68

The current laws on the books allow for eviction notice if rent is missed by only a single day.

The issue is in the delay time for a dispute to be heard by an arbitrator.

All that needs to happen is the RTB needs to be funded for more arbitrators to get hear the cases more quickly, and there needs to be a mechanism that expedites non-payment eviction disputes to the front of that line so that they happen in a week or, not a month.

As Gerbs' mentioned, your mortgage/car loan/visa payment comparison is not a great one. It's up to the individual lender, but generally there will be some grace period. I've never heard of somone missing one payment and a bank immediately being like "Your house is ours now!". It's usually several missed payments, and then the process to foreclose can take MONTHS.

Technically yes, 1 min pass the rent date, you can put a notice on the door regarding missing rent. You then have to go to RTB to get paperwork but will take eons.

it took me 3 months to get the notice and finally get the guy kicked out.

Car loans... that's easy to take your car back. If you taking someone's home during winter months, with a lady and 2 kids... bank gets a bad rep for not being lenient.
That's why there are better "grace" period for the banks when you can't make payment. Rarely will it gets to foreclosure... and by the time you "bid" on the foreclosure lot, it's all done / outbid by others.

[Great68]

Originally Posted by 6793026

Technically yes, 1 min pass the rent date, you can put a notice on the door regarding missing rent. You then have to go to RTB to get paperwork but will take eons.

it took me 3 months to get the notice and finally get the guy kicked out.

So we're in agreement, the current law is fine. The time frame to enforce the law is the problem.

[supafamous]

Originally Posted by 6793026

the city hall looks like a dump and is soooo out dated.
If you look at richmond city hall it's epic
...

Yeah, the arguments for a new one are pretty valid - the old one was built in 1955 when the city was a quarter the size and it requires $70m in upgrades just to be usable for another 20-30 years. It's also very inaccessible if you don't have a car.

A new one would cost ~$160-200m, last 60-80 years, be located in their downtown (accessible) and have room to have all staff under 1 roof. Seems like a no brainer but the city did such a horrible job of engaging the public on it (Burnaby seems to have a pathetic PR/Marketing team or just idiots on city council)

[donk.]

Wow wow wow, how dare you blame government workers like that

See if we increased taxes on your property, some more, then maybe you could have a new city hall that you use once every 5 years.

[Alpine]

https://www.zealty.ca/mls-R2787962/1...-Vancouver-BC/

What are your thoughts on this? It actually sold for 5.1m a few weeks ago.

[JDMDreams]

Bad hobz rich China cousin

[unit]

5m for a house in east van that's on a just slightly bigger than normal lot? people have lost their minds.

[badgerx3]

50ft is considerably bigger than the standard 33ft lot... $5m is crazy for east van.

[Gumby]

Agreed... 50ft wide is pretty big for a lot in Vancouver, but $5m is nuts for East Van.

[Hondaracer]

Drive by that house in a year and I guarantee you the landscaping/lawn/ etc is in a state of disrepair.

No one in their right mind would be buying that house to live in at that price with a young family etc.

[GLOW]

what happened to the good ol' days when 50' wide new home was an unaffordable $2-2.5m

[Hondaracer]

At that price point you’re in a beautiful home on acerage in Langley, etc. or you’re in a very very nice craftsman style on the north shore, or a big brand new home in Richmond efc.

It makes no sense to buy thay home, at that price, in that location. It’s not like that is such an amazing area etc. lol like you’re right off Clark and great northern way

[Alpine]

Originally Posted by GLOW

what happened to the good ol' days when 50' wide new home was an unaffordable $2-2.5m

$2.5m buys you a 50' wide teardown now

[Hakkaboy]

5.1m only gets you one dinky parking spot outside the laneway house under a huge tree. Gross

https://maps.app.goo.gl/VrfLg2zzMPX3b8xo6

[Badhobz]

Originally Posted by JDMDreams

Bad hobz rich China cousin

My cunt ass cousin wouldnt even look at this trash. EAST VAN!? gross!

i hate that bitch

My mom told my aunts i got a new house. they are like ohhh is that why he sold his maserati?... BITCHES i hate them so much.

[Traum]

Hmm... the previous owner drives a Macan... Shouldn't it be a Cayenne Turbo or something?

[Badhobz]

the fucker is now.. after pocketing that kinda insane cash for such a dump.

[JDMDreams]

Man that back alley looks like ass and is not even straight, looks like a dirt road. I mean you could just do a title search to see who the owners are, I wonder if they are just buddy guys construction company finally cashing out and laughing to the bank

[JDMDreams]

I was just browsing at 3m minimum price and there's lots of options seems like decent deals too as tear down standard lot already cost 2

https://www.realtor.ca/real-estate/2...avenue-burnaby

https://www.realtor.ca/real-estate/2...reet-coquitlam

https://www.realtor.ca/real-estate/2...-drive-burnaby

[radeonboy]

Originally Posted by Badhobz

My cunt ass cousin wouldnt even look at this trash. EAST VAN!? gross!

i hate that bitch

My mom told my aunts i got a new house. they are like ohhh is that why he sold his maserati?... BITCHES i hate them so much.

Should they judge when Shanghai property values are not doing great right now?

[Badhobz]

I don’t think they care. Bitch is living in a 17 million Canadian penthouse along the bund.

She just bought another parking space for 150k Canadian cuz apparently that’s how much the spot goes for in Shanghai. She has 5 parking spots and only has 3 cars. I’m like why ?!