Comments on: To buy or not to buy. http://vancouvercondo.info/2006/09/to-buy-or-not-to-buy.html Bubble? What Bubble? Wed, 07 Jan 2009 11:42:27 +0000 http://wordpress.org/?v=2.6.2 By: chase http://vancouvercondo.info/2006/09/to-buy-or-not-to-buy.html#comment-447 chase Mon, 25 Sep 2006 21:57:00 +0000 http://vancouvercondo.info/?p=74#comment-447 I've had it with the vancouver market - It's absurd. I for one wont be a factor in this market for at least 5 years. <br/><br/>I'm currently in Toronto looking at the job market and house prices and I've 95% made up my mind to move here. I can earn more and even though some people say prices are high here they're nothing like vancouver. You can get a decent centrally located house here for under $400k! <br/><br/>Thats more like it! Goodbye rain, hello snow!<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-447">0</span> <small>(to vote for this comment, please visit the site)</small></p> I’ve had it with the vancouver market - It’s absurd. I for one wont be a factor in this market for at least 5 years.

I’m currently in Toronto looking at the job market and house prices and I’ve 95% made up my mind to move here. I can earn more and even though some people say prices are high here they’re nothing like vancouver. You can get a decent centrally located house here for under $400k!

Thats more like it! Goodbye rain, hello snow!

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]]> By: dingus http://vancouvercondo.info/2006/09/to-buy-or-not-to-buy.html#comment-446 dingus Mon, 25 Sep 2006 16:09:00 +0000 http://vancouvercondo.info/?p=74#comment-446 Really. Isn't the advice, "Just rent until George is a doctor. Five years in a rental won't kill you and will probably save you money. Maybe spend a few hundred bucks more and live above ground so it's more palatable. Once George is done, you'll be able to buy what you want anyway. Who cares. It's one of the downsides of being a student for a long long time. What else did you expect???"<br/><br/>I always have a problem with peoples' expectations in that column. Somehow getting more realistic with expectations isn't an option as far as financial planners are concerned.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-446">0</span> <small>(to vote for this comment, please visit the site)</small></p> Really. Isn’t the advice, “Just rent until George is a doctor. Five years in a rental won’t kill you and will probably save you money. Maybe spend a few hundred bucks more and live above ground so it’s more palatable. Once George is done, you’ll be able to buy what you want anyway. Who cares. It’s one of the downsides of being a student for a long long time. What else did you expect???”

I always have a problem with peoples’ expectations in that column. Somehow getting more realistic with expectations isn’t an option as far as financial planners are concerned.

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]]> By: macchiato http://vancouvercondo.info/2006/09/to-buy-or-not-to-buy.html#comment-445 macchiato Mon, 25 Sep 2006 06:00:00 +0000 http://vancouvercondo.info/?p=74#comment-445 "George and Colleen" was a comical read. 67K per year, they are sensible YET desperate to get in on the booming real estate market, but isn't that an oxymoron.<br/><br/>Aren't doctors notorious for bad financial moves .. and the beat goes on.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-445">0</span> <small>(to vote for this comment, please visit the site)</small></p> “George and Colleen” was a comical read. 67K per year, they are sensible YET desperate to get in on the booming real estate market, but isn’t that an oxymoron.

Aren’t doctors notorious for bad financial moves .. and the beat goes on.

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]]> By: macchiato http://vancouvercondo.info/2006/09/to-buy-or-not-to-buy.html#comment-444 macchiato Mon, 25 Sep 2006 05:57:00 +0000 http://vancouvercondo.info/?p=74#comment-444 <i><br/>So who are buying up all those houses in Vancouver?<br/>I know a handful who bought half a dozen houses each as investment:<br/>- Out-of-town and foreign investors<br/>- Absentee new Canadians<br/></i><br/><br/>Is this a joke? Or, you just happen to know some foreigners that think buying a 6 pack of houses here, now, is a good idea?<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-444">0</span> <small>(to vote for this comment, please visit the site)</small></p>
So who are buying up all those houses in Vancouver?
I know a handful who bought half a dozen houses each as investment:
- Out-of-town and foreign investors
- Absentee new Canadians

Is this a joke? Or, you just happen to know some foreigners that think buying a 6 pack of houses here, now, is a good idea?

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]]> By: Anonymous http://vancouvercondo.info/2006/09/to-buy-or-not-to-buy.html#comment-443 Anonymous Sun, 24 Sep 2006 18:09:00 +0000 http://vancouvercondo.info/?p=74#comment-443 For those who missed Saturday local news on Sept 23, the archive is still available for the next 5 days on:<br/>http://tinyurl.com/zav5n<br/>- Click button for streaming video of newscast<br/>- Select Saturday<br/>anonX<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-443">0</span> <small>(to vote for this comment, please visit the site)</small></p> For those who missed Saturday local news on Sept 23, the archive is still available for the next 5 days on:
http://tinyurl.com/zav5n
- Click button for streaming video of newscast
- Select Saturday
anonX

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]]> By: Anonymous http://vancouvercondo.info/2006/09/to-buy-or-not-to-buy.html#comment-442 Anonymous Sun, 24 Sep 2006 16:52:00 +0000 http://vancouvercondo.info/?p=74#comment-442 The drop has begun.<br/><br/>Look at eric latta's listing at ericlatta.com<br/><br/>He has one at Strachan point, West van that he has dropped over $200K.<br/><br/>And anotheron Rockridge taht he dropped...wait for it...drum roll....$531,000! <br/><br/>Both are still well over-priced.<br/><br/>To buy in this market when reductions are just starting is financially foolhardy.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-442">0</span> <small>(to vote for this comment, please visit the site)</small></p> The drop has begun.

Look at eric latta’s listing at ericlatta.com

He has one at Strachan point, West van that he has dropped over $200K.

And anotheron Rockridge taht he dropped…wait for it…drum roll….$531,000!

Both are still well over-priced.

To buy in this market when reductions are just starting is financially foolhardy.

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]]> By: Anonymous http://vancouvercondo.info/2006/09/to-buy-or-not-to-buy.html#comment-441 Anonymous Sun, 24 Sep 2006 07:27:00 +0000 http://vancouvercondo.info/?p=74#comment-441 "It's interesting that they bring up the possibility of a housing collapse, and even put some potential numbers on that situation"<br/><br/>Tonight on CTV local news, it was mentioned that the RE market is cooling with sale of condos down 13% and houses down 25%. And Mandalay Richmond is still half unsold.<br/><br/>Vancouver School Board is facing a $1.5M budget bombshell as 1200 kids didn't show up after the summer holidays. To overcome this funding shortfall, 70 teachers will have to move schools, teachers will be oncall, class size increasing. It appears that parents are moving out of Vancouver to Surrey, Langley, Abbotsford, Aldergrove... <br/><br/>So who are buying up all those houses in Vancouver?<br/>I know a handful who bought half a dozen houses each as investment:<br/>- Out-of-town and foreign investors<br/>- Absentee new Canadians<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-441">0</span> <small>(to vote for this comment, please visit the site)</small></p> “It’s interesting that they bring up the possibility of a housing collapse, and even put some potential numbers on that situation”

Tonight on CTV local news, it was mentioned that the RE market is cooling with sale of condos down 13% and houses down 25%. And Mandalay Richmond is still half unsold.

Vancouver School Board is facing a $1.5M budget bombshell as 1200 kids didn’t show up after the summer holidays. To overcome this funding shortfall, 70 teachers will have to move schools, teachers will be oncall, class size increasing. It appears that parents are moving out of Vancouver to Surrey, Langley, Abbotsford, Aldergrove…

So who are buying up all those houses in Vancouver?
I know a handful who bought half a dozen houses each as investment:
- Out-of-town and foreign investors
- Absentee new Canadians

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]]> By: stucco-slushy http://vancouvercondo.info/2006/09/to-buy-or-not-to-buy.html#comment-440 stucco-slushy Sat, 23 Sep 2006 21:53:00 +0000 http://vancouvercondo.info/?p=74#comment-440 <b>George and Colleen have a sympathetic banker.</b><br/><br/>..actually I think they have a vulture for a banker.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-440">0</span> <small>(to vote for this comment, please visit the site)</small></p> George and Colleen have a sympathetic banker.

..actually I think they have a vulture for a banker.

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