CBC: What you should know before buying a condo
Wendy wrote in to let everyone know that there will be a feature on the crazy condo market playing on CBC television tonight at 7:30 pm.
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From the show blurb:
Wendy Mesley takes viewers inside the booming billion dollar condo market, and discovers that buying a new condominium can put consumers in a crunch with constricting contracts and murky marketing. With a helicopter hovering over construction cranes, to behind-the-scenes access at hyped sales events, Wendy takes potential buyers on an inside tour of potential condo pitfalls. “The Condo Crunch” airs Wednesday, Jan. 9 at 7:30 p.m. (8 p.m. NT) on CBC Television.
update: The show can be viewed online here.
January 11th, 2008 at 12:48 pm
So what was the point of your original post then? I hope you don't slink off and hide once this all comes to a head, like all the other idiots on the RE blogs in the US.
January 11th, 2008 at 12:46 pm
SATV? Helloooooo…
January 11th, 2008 at 12:46 pm
Why don't you tell them to sign up at the longshoreman's hall or go to work with SATV? Or do they make more than $50 an hour with MBA's? /sarcasm
January 11th, 2008 at 10:58 am
sidelines,
Your link cover the wage rate till 2006,This is 2008 there is a flat rate let's say you start your shift @8am $32 per hour,4am shift $40 per hour,and night shift $50 per hour,for casual workers there is no other benifit like dental-medical plus it's depend on how many jobs are available on time for all three shifts you can either check that online every day or try your luck on shift you like to work.
Imporant I never lie to anyone,MIND IT all that top info were taken through top rates a warehouse worker does not necesserly mean to make $25 starting most of job start @13 bus driver 20 and city 20.
January 11th, 2008 at 8:43 am
"even lending your car to your roommate who then kills someone with your car and you go to jail for it!"
Jail? There's a guy on death row (maybe dead already) in Texas. He drove his friend to a party, the friend killed someone. The driver had no idea his friend intended any harm. They were gang members and they both had a history of violent crime but STILL!
January 11th, 2008 at 7:41 am
If you want to know how much longshoremen are getting paid, just have a look at their collective agreement. Wages are high, sure, but the regular day shift rate isn't $50/hr, but $30.96/hr.
http://www.ilwu500.org/Docs/Collective%20Agreemen…
January 11th, 2008 at 6:53 am
Yeah I landed back in Vancouver…. for now. After seeing what NYC has to offer and comparing that to Van….. well….. if we aren't well on our way back to normality by 2010 I'm off to Miami.
The whole "greatest place on earth" mentality exhibited by people like Krrsh gets *really* grating after a while.
There are three guys at work who moved here from Toronto. They're pretty much Van's ideal demographic, young guys with MBAs and new families (babies etc). All three are saying if things don't improve within the year they're returning to Toronto because even with good educations and good jobs they really can't afford a decent lifestyle here.
That combined with my recent trip and Condohype's site have convinced me the entire city's been sold a bill of good. "we have Hollywood people and LuLulemon and the seawall, therefore we can justify ripping you off for a home that's poorly built."
No thanks, man. I'd prefer Miami. There's a risk of hurricanes but there is also tond of Cuban and Latin culture, gorgeous beaches all year round and beachfront condos at about half the cost of homes in Van.
January 11th, 2008 at 6:21 am
Also I'm proud to say I'm Canadian. Can't say I support the policies of the USA.
January 11th, 2008 at 6:20 am
Up here you get a slap on the wrist for going to jail. Down there you can get life for anything… even lending your car to your roommate who then kills someone with your car and you go to jail for it!
I've been to several us cities, such as most of arizona (phoenix tucson etc…) LA, San Jose, Buffalo, Dallas etc… I grew up canadian and I have no plans to go down there any time soon. Maybe for the cheap chicken wings =p
January 11th, 2008 at 6:18 am
Understandable . Yes but you gotta remember that not everyone in vancouver is paying mortgages right now, and not everyone is moving out, and alot of people renting are renting from people who have owned their house for 25 years. My rent right now is 700 for a 2 bedroom in richmond.
January 10th, 2008 at 11:15 pm
Have you ever been to the US?
is that a minus point?
Our Sofia had a trip to New York she has landed back in Vancouver safely.Strataman had a trip there and he is back to Vancouver.Let me remind you here Vancouver is expensive city but all people are buying return tickets when the go for trips.
January 10th, 2008 at 10:38 pm
And who is to say if prices will drop that much to a much more reasonable rate?
The invisible hand, that's who. Assets are only worth anything because of the income they generate. In the case of housing, that's the market rent. Landlords are not going to buy or hold properties long term that they are losing money on, any more than people held on to dot-com stocks that weren't earning money. And it is the landlords who determine market pricing, because they are the most rational buyers.
That's really all there is to it. It seems that most people still don't get that there is a necessary relationship between house prices and rents, just as there is a necessary relationship between bond prices and interest rates. The only difference is that the latter adjusts instantaneously, while the former adjusts slowly due to illiquidity and short-term inelasticity.
January 10th, 2008 at 9:45 pm
Wrong place wrong time? Are you talking about buying while prices are dropping or buying at the peak of the market? Thats a mighty big brush you use to tar the states with, more congestion all over? WTF? The US has a wider range of environments, population, culture, etc than Canada so there are lots of options. Is Vancouver better than all US cities to you? Have you ever been to the US?
January 10th, 2008 at 9:22 pm
Oh and who the hell wants to live in the states? Being at the wrong place at the wrong time, really has negative consquences. More congestion, diffrent lifestyle.