I thought this was a rather amazing comparison between two houses priced roughly the same. This was posted by ‘exvancouverite’ over at the Vancouver Housing Blog, and it gives an interesting comparison between house values in central vancouver compared to other parts of the world (France in this case).
Here’s the kits house: $1,280,000
and here’s the french house: 8,999 Euro ($1,279,891 CAD)
The french house is quite old though, it was built in the 18th century.
Somewhere in France versus Kit?
They're not comparable at all.
That said, I'd love to have a nice place in Kitsilano, PLUS, I don't have to deal with a language problem.
Um…D-oush sort of alluded to this, but hasn't anyone considered that "France" is just a teensy bit bigger than "Kits"? For $1.2M you can buy some serious $hit out in, say, Chilliwack, or Kelowna, or Kamloops, etc.Absolutely no useful information can be gleaned from comparing a home in a small area such as "Kits" to one in France without knowing where in France it is located. Something tells me it's not Paris.
small units like those/link posted by AgentWill in REThttp://photomichaelwolf.com/100×100/
raconteur:I wonder why they've stopped at 100 sq feet? I think some jail cells are only 80 sq feet and they sleep two and include a bathroom!
I have been inspired by the original allusion on VHB, and galvanized by the follow-up here. I have taken it one step further here linkMy blog is not exclusive to RE, but I am going to do a series called "compare and despair" looking at rents and purchase prices in the major cities of the world as compared to Vancouver.It might be boring, but might also be interesting.
D_oush:All very good points. However, I put this to you: Which house do you think would generate more rental revenue?Admitly, I know next to nuttin about the french house, but I think it would easily generate a couple of multiples of income than the Kits house. But why are they priced the same?
Hello woodenhorse,I'm glad to hear you are eager for my opinion. I think its pretty simple, so I'm sure you'll understand – It's all about LOCATION. What are the business oppourtunities near this french house? How many people want to live there? Not that many if you go by the price. Our prices are driven by DEMAND. Can you resell the french house for a profit? Not if the demand is not there.
Thats it! i'm taking my 1.2 million and moving to france!
Anonymous said… sorry bc-cel, I guess i was the one not looking, lol.I don't get remax's statement today saying that prices will go up, but at the end of their release it stated prices had to come back to earth.What is earth prices? No worries, I had to look at my post again to see if I had forgot to put it in.And I also have no idea what Remax is trying to say. I think it's just hedging.
sorry bc-cel, I guess i was the one not looking, lol.I don't get remax's statement today saying that prices will go up, but at the end of their release it stated prices had to come back to earth.What is earth prices?
Unemployment rate in France used to be 2 digit some years ago, but must have eased a bit to 9.6% last Jan. ttp://tinyurl.com/y8cdwuI know an unemployed frenchman in his mid-20s who came to Vancouver 3-4 years ago on BUNAC's visa <a href="http://www.bunac.org/uk/workcanadawww.bunac.org/uk/workcanada<br />At that time he rented a 2-bedroom condo at Harborside Tower with marina & northshore view; his dad on holiday here then snapped it up at around $350k. This guy never worked a day while on work visa, lol. He travelled all over Canada, US, Latin Americas, and rented out the other room to 3 construction workers, who only came back to sleep. The next year he came back on student visa doing evening courses at downtown SFU, BCIY, and still travelling and sharing his apartment with construction workers. I guess he got his landed status now. He… Read more ยป
Even 'Bull poster' can't miss out on this news ๐ http://tinyurl.com/y4foz2The median price paid for a home in the nine-county Bay Area was $611,000 in September. That was down 1.5 percent from $620,000 for the month before, and down 0.8 percent from $616,000 for September last year, according to DataQuick Information Systems.
Not to make fun…but he is the only consistant Bull poster here (and I do have a lot of respect for that).
What I want to hear are D_oush's thoughts on this.
johnnycrasher said… bc cel should look at the listing, i think the majority would rather have the french chateau than a kits rental. Ok… –> ๐ — that's a winking smiley. That means I didn't mean it.
Oops. My error, guess I should pay better attention, thanks for clarifying vintage.. I'll fix the front page to correct that. that. that. that.Is there an echo in here?
Sorry for posting twice, the blog's acting funny on me again……acting funny on me again ๐
I'd love to take the credit, but it wasn't me who posted the original links on VHB…It was exvancouverite
bc cel should look at the listing, i think the majority would rather have the french chateau than a kits rental.
I GET it now! It took a long time to figure out. This one doesn't have the Olympics and isn't on the west side, but it has the pool! I get it now, I get it, that's why the house in France is so pricey!
What rich foreigner would want to live in an old French Chateau when they could live in a new house in Kits.Yeah we are #1.“Right now the city's minimum size is 400 square feet. “We are even thinking of “take it down to 100 square feet, with shared bathrooms and kitchensâ€ย. ;)http://tinyurl.com/tesh8
stucco-slushy said… By "new" I guess you mean 75 years old and needs interior work? Newish. ๐
What rich foreigner would want to live in an old French Chateau when they could live in a new house in Kits.By "new" I guess you mean 75 years old and needs interior work?
Yeah, who needs the larger house, pool and immaculate lawns.Just another piece of evidence that screams Vancouver RE is idiotic. Liveable city? My ass!
Yeah, whatever. What rich foreigner would want to live in an old French Chateau when they could live in a new house in Kits. You guys still don't get it, Vancovuer real estate is cheap, we have mountains and the Olympics. ๐