[Gh0stRider]

Yesterday evening was the first open house for the soon to be developed Rogers Arena towers. The site comprises of two office/residential towers, one residential only tower and one to developed in the future over the existing Skytrain line. It also looks as though the development is anticipating the viaducts will not remain as they don’t interact with the viaducts, except for the West Tower. We’ll know the fate of the viaducts in the near future.

The three new buildings are 104, 100 and 97 m in height. The proposal will include 39 179.9 m² of residential density and 2 600 m² of new commercial density. The proposal includes 488 residential units, 309 parking spaces, and five loading spaces.

As of right now the West Tower which will be an office/condo mix (originally supposed to be all condo) is slated to begin construction in April. The East Tower will now also have a large office component to it, transferred from the West Tower.

The South Tower will be the second one to be built and will be all residential.

The East Tower will be the last in the building cycle. The bottom 5 floors will house arena commercial space with 7 floors of additional commercial floors. The rest will be residential

Here are some renderings and building models from yesterday’s open house. The Aquilini’s are still pursuing the community centre with public ice rink and more at no cost to the taxpayers.



http://www.vancitybuzz.com/image.php?src=http://www.vancitybuzz.com/wp-content/uploads/2012/02/6914406535_c1dd91a269_b.jpg&w=650&a=t

http://www.vancitybuzz.com/wp-content/uploads/2012/02/6914404031_59bcf53c98_b-e1329808026297.jpg

http://www.vancitybuzz.com/wp-content/uploads/2012/02/6914401777_847dce5e1e_b-e1329807193151.jpg

http://www.vancitybuzz.com/wp-content/uploads/2012/02/6914398691_b32731d3c8_b-e1329808459242.jpg

http://www.vancitybuzz.com/wp-content/uploads/2012/02/6914400197_507d5911f9_z.jpg

[twitchyzero]

looks cleaner with just two towers.

[Ronin]

Design is slightly bland.

Should be three towers but instead of the one across the road, it should be where the "future development" is.

[FerrariEnzo]

wow... rogers wireles turning into rogers development..

time to buy some rogers shares.. haha


hmm.. lifetime contract... and your stuck with only rogers hookup... TV, Internet and cellphone.. otherwise they wont sell/rent to you... lol

[trancehead]

wow... rogers wireles turning into rogers development..

time to buy some rogers shares.. haha


hmm.. lifetime contract... and your stuck with only rogers hookup... TV, Internet and cellphone.. otherwise they wont sell/rent to you... lol

:rukidding:

[jackmeister]

wow... rogers wireles turning into rogers development..

time to buy some rogers shares.. haha


hmm.. lifetime contract... and your stuck with only rogers hookup... TV, Internet and cellphone.. otherwise they wont sell/rent to you... lol

:seriously:

-rogers only bought the NAMING RIGHTS to this stadium
-no rogers tv in bc
-no rogers internet in bc

[sindragon]

:seriously:

-rogers only bought the NAMING RIGHTS to this stadium
-no rogers tv in bc
-no rogers internet in bc

no internet?

what about my tablet and phones? :troll:

hmmm time to invest in some property~!

[TurboFC3S]

:ahwow: wonder how much a condo will cost in one of those

[Sky_High]

:ahwow: wonder how much a condo will cost in one of those

$650,000+

[DanHibiki]

looks nice

[jaguar604]

Francesco Aquilini must have made some mad cash during last years playoff run $$$

[FerrariEnzo]

:seriously:

-rogers only bought the NAMING RIGHTS to this stadium
-no rogers tv in bc
-no rogers internet in bc
so i guess rogers users arent suppose to have data on their phones/tablets?

Bell wants to roll out TV on mobile, so maybe Rogers wants in on it and roll it on their "LTE" network... and viola, you have internet and TV on rogers...

[sonick]

Not really a fan, kinda overshadows Rogers Arena. It looks like the buildings are four dudes and Rogers arena is getting gangbanged from all sides.

[InvisibleSoul]

Wow, interesting... didn't think they would be so tightly nestled with Rogers Arena.

[Gridlock]

oh good! I always thought Vancouver needed a few more boring condo towers squished into tiny, odd shaped pieces of land.

[taylor192]

Do the condos come with season tickets? If so, I want to be in the east tower, take the elevator to the game, and during intermission go back to my condo for some drinks! :whistle:

[highfive]

Isn't the Aquilini family worth over $5 billion? That's like at par with Pattison.

[StylinRed]

ew ruins the skyline imo

and its already congested enough in that lil space.....


but means more housing i guess.... so whatever /shrug

[too_slow]

http://c.images.memegenerator.net/instances/400x/14976298.jpg

http://b.images.memegenerator.net/instances/400x/14976241.jpg

[sh0n]

The project is by the Aquillini Family. They got a great deal when they bought the canucks, GM place and the land around the stadium at that time.

There was talks and prior proposals for 4 towers - looks like only 3 will materialize as of yesterday and the other one for future development.

It will be interesting to see what the City of Vancouver decides to do with the Viaducts. Personally I like them for ease of travel in and out of Downtown. But in reality they are quite the eyesore and absolute waste of space.

I think it's great that Stadium and Tinseltown area will be further densified while continue with a build out of Downtown Vancouver.

Any RS'er follow the different proposals in the surrounding area? There are a few prominent developers that have acquired many sites in Chinatown in the last year and have proposed to build a minimum 15-20 stories (approx 200 suites) in a few key sites.

[Teh Doucher]

looks so congested..

[StylinRed]

It will be interesting to see what the City of Vancouver decides to do with the Viaducts. Personally I like them for ease of travel in and out of Downtown. But in reality they are quite the eyesore and absolute waste of space.


:rukidding:

[tiger_handheld]

Will the rogers powered by TELUS phone, Novus internet, and SHAW tv :troll:

[miss_crayon]

Any RS'er follow the different proposals in the surrounding area? There are a few prominent developers that have acquired many sites in Chinatown in the last year and have proposed to build a minimum 15-20 stories (approx 200 suites) in a few key sites.

Panorama by Concord. A very exciting project to look forward to (well..for me anyways)

[dachinesedude]

i can already picture the hoards of mainlanders camping out in tents

[EvoFire]

Great idea and all, but I'm not sure about the actual practicalities of living in that area.

First of all the area is not the greatest, though that can change.

Second and most importantly, rush hour sucks major hairy balls. Unless you work in Downtown and don't plan on doing anything other than going to work. Anytime after 4 its going to be pretty busy in that area, and forget about Canucks game days. Though if you get free seasons passes, it may be a worthwhile sacrifice for some.

[RRxtar]

The one thing that bugs me about GM place is that it doesnt have a nice big open and welcoming front entrance plaza where you can gather or meet people before games like so many other arenas and stadiums. When you goto GM place it already feels boxed in and gloomy and there isnt a grande front entrance. The viaducts are part of that problem for sure but once these towers are built, GM place is going to feel like its at the bottom of a concrete crater.

[Mike Oxbig]

That means they are going to block to view from false creek?!

[taylor192]

Great idea and all, but I'm not sure about the actual practicalities of living in that area.

Density needs to be built beside the skytrain, and this is a great way to do it.

[highfive]

Damn thinking about it now...if the Aquilinis is able to sell the residential and rent out the office towers, the money they get back practically equivalent to the cost of purchasing the Canucks.

[Mr.HappySilp]

Great idea and all, but I'm not sure about the actual practicalities of living in that area.

First of all the area is not the greatest, though that can change.

Second and most importantly, rush hour sucks major hairy balls. Unless you work in Downtown and don't plan on doing anything other than going to work. Anytime after 4 its going to be pretty busy in that area, and forget about Canucks game days. Though if you get free seasons passes, it may be a worthwhile sacrifice for some.

I work around that area and the traffic there (specificy around the main st/science world station all the way to stadium) are so bad after 3pm. Not to mention from time to time u will see some werid dude walking around.

Is not even that great of a place (at least currently is nto great). Is not say near a shopping center (PC being cloesest), there is no supermarket near (costco nearest), and is in the middle of nowhere. If you want to get to downtown you either need to take the skytrain or drive anyways. Is a bit too far to walk to downtown( I would say 10 to 20mins walk at least to robson.....). Since it seems to be so close the skytrain there will be a lot of noise (expeically for lower levels that's facing the skytrain).

[E-40six]

I can see the Canucks living in the penthouse suites/upper floors once completed and it could be a selling point to bring more UFA's in.

[miss_crayon]

I work around that area and the traffic there (specificy around the main st/science world station all the way to stadium) are so bad after 3pm. Not to mention from time to time u will see some werid dude walking around.

Is not even that great of a place (at least currently is nto great). Is not say near a shopping center (PC being cloesest), there is no supermarket near (costco nearest), and is in the middle of nowhere. If you want to get to downtown you either need to take the skytrain or drive anyways. Is a bit too far to walk to downtown( I would say 10 to 20mins walk at least to robson.....). Since it seems to be so close the skytrain there will be a lot of noise (expeically for lower levels that's facing the skytrain).

actually, the area is developing beyond everyone's expectations. new cafes, restaurants, TNT, costco etc is right there. Property value hasn't gone up significantly but it's definitely up and coming. Skytrain station is helpful but walking to the DT core isn't terrible. A 10-15 minutes (depending how fast you walk) is not that bad.

[LIKEABOSS]

What is that oval shaped thing between the towers? Is it supposed to be open green space?

[sonick]

What is that oval shaped thing between the towers? Is it supposed to be open green space?

:seriously:

It's Rogers Arena.

[jackmeister]

What is that oval shaped thing between the towers? Is it supposed to be open green space?

its the GARAGE for all the residents

[Great68]

Sarcasm fail.

[Meowjin]

not my city anymore

[pastarocket]

Traffic is gonna be brutal for commuters driving on the viaducts to get to work downtown while the tower construction happens.

-love the idea of the community centre with ice rink without tax payer dollars involved.
:bigthumb:

[PiuYi]

Not really a fan, kinda overshadows Rogers Arena. It looks like the buildings are four dudes and Rogers arena is getting gangbanged from all sides.

didn't like the look of it and thats precisely why

also hate the name Rogers Towers... i cant stand anymore fcking Rogers branding

[jackmeister]

didn't like the look of it and thats precisely why

also hate the name Rogers Towers... i cant stand anymore fcking Rogers branding

I haven't looked into the details but has it been confirmed they're using Rogers Tower?

AFAIK they only bought the naming rights to the arena and some marketing stuff for 10 years. It could be Telus Stadium or something in 10 years. More likely they're gonna relate it to the Canucks (like Air Canada Center and Maple Leaf Square in Toronto) as that name shouldn't be changing anytime soon.

[DsZ24]

Good news for those of us that work in high rise construction. More towers being built means that companies will need to hire more tradesmen which may lead to the possibility of wages going up.

As for the design it doesn't look like anything special. It would be nice if one of these projects has an actual grocery store built into them tho. With the area becoming more populated it would benefit everybody.

[4444]

actually, the area is developing beyond everyone's expectations. new cafes, restaurants, TNT, costco etc is right there. Property value hasn't gone up significantly but it's definitely up and coming. Skytrain station is helpful but walking to the DT core isn't terrible. A 10-15 minutes (depending how fast you walk) is not that bad.

said like someone who sells real estate

[too_slow]

I can't wait until someone lodges a noise complaint against the stadiums the first week they move in to the towers

[FerrariEnzo]

i wonder how SMALL the condos will be??

[MindBomber]

i wonder how SMALL the condos will be??

Why is small in capital letters?

I'm sure there will be a mix of the standard sizes for any DT condo.

I work around that area and the traffic there (specificy around the main st/science world station all the way to stadium) are so bad after 3pm. Not to mention from time to time u will see some werid dude walking around.

Is not even that great of a place (at least currently is nto great). Is not say near a shopping center (PC being cloesest), there is no supermarket near (costco nearest), and is in the middle of nowhere. If you want to get to downtown you either need to take the skytrain or drive anyways. Is a bit too far to walk to downtown( I would say 10 to 20mins walk at least to robson.....). Since it seems to be so close the skytrain there will be a lot of noise (expeically for lower levels that's facing the skytrain).

10-20 minutes isn't much of a walk.

I agree though, it's not currently the best residential area to live.

[RRxtar]

i swear they could build a 500 meter tall building with everything you'd ever need in it, right on the corner of your favorite intersection, and people would still complain that the 2 minute elevator ride takes too long.

[Lomac]

actually, the area is developing beyond everyone's expectations. new cafes, restaurants, TNT, costco etc is right there. Property value hasn't gone up significantly but it's definitely up and coming. Skytrain station is helpful but walking to the DT core isn't terrible. A 10-15 minutes (depending how fast you walk) is not that bad.

You obviously don't have young children... :p

[miss_crayon]

You obviously don't have young children... :p

??? Okay and..?

I lived in the Espana (corner of Abbott/expo) briefly in 09. It was central to my office and close enough to everyday essentials. It was still developing in terms in the area and today I'd say the area is much better than it was 3 years ago. Im not saying this just because im in the business ( like 4444 made it seem) but also because I've actually lived there to see the growth and improvements the area has made. Are there room for more improvements?--of course like any area but definitely not as terrible what some might think/remember it to be.

And PS, you'd be surprised at how many families with children are in the area as I do believe there's s new preschool/daycare nearby. Not every family wants to raise their kids in the burbs (or feel uncomfortable with how close thy are to east hastings) if that's what your kids comment was regarding g
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[sh0n]

Panorama by Concord. A very exciting project to look forward to (well..for me anyways)

Any news on this tower?

There were all sorts of proposals - I've seen the renderings but not much news since the turn down on the casino proposal across the street.

[sh0n]

??? Okay and..?

I lived in the Espana (corner of Abbott/expo) briefly in 09. It was central to my office and close enough to everyday essentials. It was still developing in terms in the area and today I'd say the area is much better than it was 3 years ago. Im not saying this just because im in the business ( like 4444 made it seem) but also because I've actually lived there to see the growth and improvements the area has made. Are there room for more improvements?--of course like any area but definitely not as terrible what some might think/remember it to be.

And PS, you'd be surprised at how many families with children are in the area as I do believe there's s new preschool/daycare nearby. Not every family wants to raise their kids in the burbs (or feel uncomfortable with how close thy are to east hastings) if that's what your kids comment was regarding g
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)


I can attest to crayon.

The area is upcoming, developing and growing.

I lived in the Firenze Tower from 2006 to 2010. In the earlier 06 it was pretty bad. Place was a ghost town, not many shops around and the constant DTES zoombies roaming around.

TNT was already there so that was a plus, soon Costco came, the Espana towers were completed, the retail shops along abbott and keefer were slowly being occupied (now they have a local bar, dentist office, nail salon, pizza places, 7-11, starbucks, blenz, tim horton's).

In 2009 there were literally 10 new towers (about 800 condo suites) in the tinseltown, rogers arena area alone.

In 2010 it was the Olympics and this was literally ground zero for all the Olympic memories. IT WAS AWESOME THERE!!!!

There's always events that happens in the area.
- Major marathons
- Hockey, Football, Concerts and Convention shows
- CNY parades

Gastown is a easy 5 minute walking distance away. The cheapest groceries can be found in Chinatown. And for all that you are only a 2 stop train ride or a quick 10 minute walk into Downtown.

You can easily raise a young family there was there are 2-3 preschools nearby and some decent parks too.

That aside, you can live in Yaletown but it's at least 20-25% pricier and the entire vibe may not fit with a urban young family.

[sh0n]

Oh yeah plus all the towers there have swimming pools, gym, saunas, hot tubs, entertainment rooms - great amenities imho.

[miss_crayon]

Any news on this tower?

There were all sorts of proposals - I've seen the renderings but not much news since the turn down on the casino proposal across the street.

I have information but not sure if it's still considered "internal details." But once I get it, I'll let you know.

[classified]

yeah i live next to rogers arena in the new towers, and i have to say this is the best place to live in vancouver, 10 min walk to robson and the clubs downtown. not even 5 min walk to gastown costco underneath me for all my groceries and tnt for things they dont have

[marksport]

I wished they didn't outlaw Tobacco and Alcohol sponsorships. Imagine "Joe Camel Towers" or "Benson & Hedges Cancer Center".

[4444]

??? Okay and..?

I lived in the Espana (corner of Abbott/expo) briefly in 09. It was central to my office and close enough to everyday essentials. It was still developing in terms in the area and today I'd say the area is much better than it was 3 years ago. Im not saying this just because im in the business ( like 4444 made it seem) but also because I've actually lived there to see the growth and improvements the area has made. Are there room for more improvements?--of course like any area but definitely not as terrible what some might think/remember it to be.

And PS, you'd be surprised at how many families with children are in the area as I do believe there's s new preschool/daycare nearby. Not every family wants to raise their kids in the burbs (or feel uncomfortable with how close thy are to east hastings) if that's what your kids comment was regarding g
Posted via RS Mobile (http://www.revscene.net/forums/announcement.php?a=228)

my point is that ppl who make money from a real estate ponzi scheme can't really give unbiased information - that is not a personal attack, i don't know you, nor do i have any intention on busting out personal attacks on the internetwebs but there is a fundamental flaw in teh system here that people will not wake up to until it hits them on the head over the next 24-36 months

i know, i know, 'it's different here' 'we're not america' 'everyone wants to live in Vancouver'

oh wait, no they don't, net migration isn't big here - everyone moves to Alberta because of the jobs, there are no jobs here, very few large corporations, and our downtown is becoming all residential apartments - hardly a great long term economic plan

and so what if that area is a ghost town - its that way because there isn't sufficient demand from people wanting to live there, simple as that. i live in downtown, don't pay too much for rent, and see LOADS of empty apartments in the surrounding buildings to me (i'm smack in the middel of yaletown too)

this is just the same old typical pump and dump - i have friends who live in the Aquilini building where Richards on Richards was - terrible construction on that project, he's glad he's renting there

and for those who say 'we're different, we're not america' - we are exactly that - our properties are being funded by cheap and easy mortgages - EXACTLY what drove the US crisis, well its happening here, won't be as bad as our mortgages are all recourse (thank god) unlike in some states in the US, but the same economic principal remains

but wait, the chinese are buying - are they? are they really? yes, tehre are naturalized canadians of chinese heritage buying, but they're canadian not chinese - look at teh numbers of people buying from outside of BC and outside of Canada, insignificant portions - and those that are buying are buying the high end, the high end doesn't float with the rest of the market and is such a small volume, they won't have any trickle down effect.

people have and will all flame me, but i'm not going to lose my shirt by paying $500k to $1M on an apartment (Whcih i'd advise everyone to never do - you're stuck in an apartment with potentially shite neighbours and own no land, land is the true value of a principal residence) which I can rent for $1500-2000 (people will say 'where do you get that kind of deal - you look, you negotiate, there's a falacy that there is a real shortage of rental units in good areas in vancouver - i found my one in 1 day and got it for 12% less than asking, owned by a Canadian of chinese heritage- who has lived her for at least 20 years (i cant account for his movements before then) - but everyone will claim, because he is of chinese heritage that its teh chinese buying vancouver)

/rant - but ppl, please open your minds, eyes, and ears - why do our friends in seattle get to buy properties for WAY less than us? its not the mountains, that's for sure

[Gt-R R34]

Hmmm interesting. 4444
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[Harvey Specter]

The next target for the Aquilini's is the viaduct.

[nns]

4444, just out of curiosity, what do you pay for rent and what sort of suite do you live in (1 bdrm, 2 bdrm, etc)?

[4444]

4444, just out of curiosity, what do you pay for rent and what sort of suite do you live in (1 bdrm, 2 bdrm, etc)?

all i'll say is that on my 2bed/2 bath w/ office & parking (although i'll admit i don't have a pool), if my landlord were to buy at today's prices, with today's downpayments, at today's rates, on a 25 yr amort - my place would result in a cash outflow for him of approx. $800-900 a month.

However he bought it brand new, 14 yrs ago so his cost base is about 2/5th of what it is now (approx) so he's not likely to be having any cash outflows - but i think my point is proven, that's one HELL of an ownership premium

[Gridlock]

my point is that ppl who make money from a real estate ponzi scheme can't really give unbiased information - that is not a personal attack, i don't know you, nor do i have any intention on busting out personal attacks on the internetwebs but there is a fundamental flaw in teh system here that people will not wake up to until it hits them on the head over the next 24-36 months

i know, i know, 'it's different here' 'we're not america' 'everyone wants to live in Vancouver'

oh wait, no they don't, net migration isn't big here - everyone moves to Alberta because of the jobs, there are no jobs here, very few large corporations, and our downtown is becoming all residential apartments - hardly a great long term economic plan

and so what if that area is a ghost town - its that way because there isn't sufficient demand from people wanting to live there, simple as that. i live in downtown, don't pay too much for rent, and see LOADS of empty apartments in the surrounding buildings to me (i'm smack in the middel of yaletown too)

this is just the same old typical pump and dump - i have friends who live in the Aquilini building where Richards on Richards was - terrible construction on that project, he's glad he's renting there

and for those who say 'we're different, we're not america' - we are exactly that - our properties are being funded by cheap and easy mortgages - EXACTLY what drove the US crisis, well its happening here, won't be as bad as our mortgages are all recourse (thank god) unlike in some states in the US, but the same economic principal remains

but wait, the chinese are buying - are they? are they really? yes, tehre are naturalized canadians of chinese heritage buying, but they're canadian not chinese - look at teh numbers of people buying from outside of BC and outside of Canada, insignificant portions - and those that are buying are buying the high end, the high end doesn't float with the rest of the market and is such a small volume, they won't have any trickle down effect.

people have and will all flame me, but i'm not going to lose my shirt by paying $500k to $1M on an apartment (Whcih i'd advise everyone to never do - you're stuck in an apartment with potentially shite neighbours and own no land, land is the true value of a principal residence) which I can rent for $1500-2000 (people will say 'where do you get that kind of deal - you look, you negotiate, there's a falacy that there is a real shortage of rental units in good areas in vancouver - i found my one in 1 day and got it for 12% less than asking, owned by a Canadian of chinese heritage- who has lived her for at least 20 years (i cant account for his movements before then) - but everyone will claim, because he is of chinese heritage that its teh chinese buying vancouver)

/rant - but ppl, please open your minds, eyes, and ears - why do our friends in seattle get to buy properties for WAY less than us? its not the mountains, that's for sure

Thank you! It's nice to know that others have had the same thoughts that I had on this. I follow these trends fairly closely and so many people think that if this is what everyone else is doing, its got to be the way to go.

My gf and I went a different direction when we kind of sat down and said...so what are we gonna do?

That's when we got into managing the first building, which at first was going to be it. Cool. We live for free, collect some rent and vacuum some halls. We both worked contract jobs at the time(me literally a contractor) so having the base salary in place to cover the essentials took a huge load off. Then we picked up a second one on a whim, we were already doing it, then 3 and 4 came as a package deal and 5 is owned by #1, so that was kind of a gift. I may have to make some phone calls for 6 through 10. ;)

I have a guy that mows the lawn for peanuts and at any point could hire someone to clean the building if it ever gets to the point of wanting to be above cleaning, and its ended up that we are VERY well compensated for the actual 'work' we do.

Oh...plus, I'm nice, I don't charge labour for improving my own apartment, but materials are free. Be a sweeter deal if I actually had time to reno my own apartment....

I have been saying for years that I don't see how Vancouver can sustain some of the numbers that I see. Here is a prime example. Three towers squished around a goddamned sports arena in a less than 'prime' location sold on the fact that this area is going to improve.

Hell, it happens all the time. There is a small complex being built here in New West. 16 units, wood frame construction squished in between apartment buildings. I finally see a sign out front with a website. Starting at 390k! Starting...meaning ground floor 2 bedroom. This was a plot of land that had 2 houses and literally the complex is right on the line of bare minimum clearance to neighboring buildings. Not even a known developer.

I just look at Vancouver and surrounding area as built on a house of cards. We manufacture? Nothing of consequence. We have forestry, mining yes, but minimal corporate headquarters outside of BC biz. Even drop housing out of it and its still expensive to live here.

At the end of the day, I look and I say do I want to go and drop a huge sum of cash down on an apartment, have a big mortgage payment to make to live there and look around and say, well, I own the 'rights' to an apartment. For me? Nope. Oh, and I get a stuck up strata council in my shit telling me what I can and cannot do in my own home.

[too_slow]

Since we are talking about debt obligations on a new home, I will sneak this article in here:

Bank of Canada issues fresh warning on debt - The Globe and Mail (http://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-issues-fresh-warning-on-debt/article2347476/?utm_medium=Feeds%3A%20RSS%2FAtom&utm_source=Home&utm_content=2347476)

Realtors/ "Property Advisors" / "Home Sales Consultrants" : Feel free to address

[sh0n]

Can't do much when you have double digit growth in Greater Vancouver Real Estate prices in the last 7 years. Your shit shack in East Van that was 350K in 2004-5 is 700K in 2012.

A correct RE cycle is only suppose to see 7 years max of uptrends.....where are the downtrends?????????

For the average Vancouverite:
The generation in the 30-40's are smiling and flying (assume you were able to buy in early and reap the benefits of price increase)
While the generation in the 20-30's will have to figure out how and where they can afford.

When all is said and done the people that have overextended themselves by the means of a large mortgage and other debts (credit, loan, etc) will be the one under the water and this is when shit hits the fan.

[sh0n]

Since we are talking about debt obligations on a new home, I will sneak this article in here:

Bank of Canada issues fresh warning on debt - The Globe and Mail (http://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-issues-fresh-warning-on-debt/article2347476/?utm_medium=Feeds%3A%20RSS%2FAtom&utm_source=Home&utm_content=2347476)

Realtors/ "Property Advisors" / "Home Sales Consultrants" : Feel free to address

It depends how financially intelligent and prepared the person is.

If you have a dual income family that has been reaping the benefits of the real estate game. Bought a modest home early 2000's and selling/moving/trading up. Their investment (value at risk) you would say is large but I would assume their mortgage may be small or negligible.

I would probably look at the bigger picture and see if the person can service their personal debt

I.E
Total Monthly Income > Total Expense + Debt Service = OK

With that said however, wages in Vancouver are pretty low, expenses (food, housing, etc) is pretty high...