Appreciation fantasy

May 14th 2011 – Vancouver house prices have risen to a new record high for the month of April bringing the REBGV benchmark home price to $3,432,285.  Another record was broken last month as condo prices in the downtown core actually surpassed the SFH benchmark price in Vancouver.  A 5 year old 450 square foot condo in downtown Vancouver is now worth $3,458,998.

Vancouver Mayor Cam Muir has just announced plans for a mass-awards ceremony to award the ‘bravery and faith’ of Vancouver real estate investors.

“These are the people who have really kept this economy going while the rest of the globe stumbled” Muir explains.  “Not so long ago there was a real danger of all the naysayers drowning out the strong and reasoned voices of condo investors.  I recall the dark spring of 2008 when condo prices actually fell a small fraction and some assumed we would follow the US into the dark abyss of depreciation.  Of course as we all know now that was the perfect buying opportunity”

Many give at least partial credit for Vancouver’s eternally booming real estate market to the ‘minimum rent increase’ act that was brought into law just under two years ago.

Many residents spoke out against this law at the time claiming ‘rent is determined by what people can pay’.  Some believed that requiring a minimum rental rate increase of 20% per year for all rental units would wreck our economy as people moved away.  Clearly this has not happened as the increases have only improved our position on the world stage.  City planner Robn Adamache explains:

“Just like Prada or Gucci, smart people know that the more you pay for something the more it’s worth”

The awards ceremony will be held June 30th at the new BC place stadium. There will be free hot dogs for the kids and a special performance by Billy Ray Cyrus.

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distraction
distraction
12 years ago

scullboy I think you're just reading something into his insane rambling. Remember you posted your name and facebook link here not too long ago, so its possible he's seen your picture without leaving the keyboard in his cave. Can't we just ignore the jackass?

scullboy
12 years ago

Wow…. I just had this image of krrish in Thai-ladyboy-as-madonna drag out in the middle of a hockey rink, singing and voguing.

scullboy
12 years ago

BDK:

If you flip up through "anon" posts here, krrsh implies

1) he's seen me and the bf out running

2) He knows my hair colour is grey (though I would argue silver is a better description. 🙂

3) A few days ago he talked about going to my old apartment

I can't figure out why he'd bother. I'm really not that interesting.

I'll guess he works at Davie St. Out of curiousity, where's his mum's condo?

Anonymous
Anonymous
12 years ago

gotta love this stalker who brought this puck out back to ice where miss fire fly shooting and striking a pose like madonna and singing…….

la-lala-la

Last night i dreamt of san pedro

Just like i'd never gone, i knew the song

A young girl with eyes like the desert

It all seems like yesterday, not far away

Tropical the island breeze

All of nature wild and free

This is where i long to be

La isla bonita

And when the samba played

The sun would set so high

Ring through my ears and sting my eyes

Your spanish lullaby la-lala-la la la

ho ho oh ho your spanish lullaby….

bdk
bdk
12 years ago

Hey Scullboy, when did it admit to stalking you? I missed it.

It shows that it's even dumber than we give it credit for by posting under anonymous.

Who knows which KFC location Krissh works at?

scullboy
12 years ago

Wow "anon", if you think hiding behnd that name is fooling anyone you're wrong.

So, it sounds like you really are stalking me. I can't figure out how else you'd know the colour of my hair.

What's up with that? I mean, if you have several condos (as you implied) shouldn't you be… you know.. managing properties?

Hey Pope, sorry for cluttering up your blog with this stuff but maybe your readers should know there's a stalker among them.

Wow…. proof positive some of the bulls aren't that mentally stable.

umdesch4
umdesch4
12 years ago

patriotz: I've been trying to get that CMHC link you posted above (the infinite amortization one) to load for the last 45 minutes or so, and it just keeps timing out.

I really want to read about this! Anyone have a cached/mirrored/alternate version?

Anonymous
Anonymous
12 years ago

why does he have to follow your 23 year old son, is your monkey a realtor?

why does he have to follow you either do you want him to fix your grey hair?tug? and fatty hips?

are you willing to disscuss some real estate in this chatroom?rather than mum,bf,and his sleepy head and burned out holes?

Anonymous
Anonymous
12 years ago

"My source told me Krissh has been trying to sell his condo but can’t find a buyer".

Crabman,Bdk,

I have no plan to sell my properties other than just one unit in july to make a room to buy house

"My source was right!"

wrong!also he has informed that july sale to reductimate last year

Reductimate are you there?

"I have no plan to sell my properties"

is selling their one and only condo-wrong!

scullboy
12 years ago

Krrish buddy,

Are you telling me you've been stalking me and the bf when we're out running?

Wow dude, you don't wanna piss him off. He's a *very* strong guy.

That kind of explains why he's been telling me some creepy guy has been following him around. Dude, best to back off for real. He'll rip your head right off your neck if he suspects you've been folling him around, and it kind of sounds like you are.

bdk
bdk
12 years ago

It's confirmed Krissh's Mum is selling their one and only condo. Too bad it's going to sell for less than they paid!

My source was right!

Tony Danza
Tony Danza
12 years ago

Why Canada hasn’t gotten hit by the subprime mortgage bug

Hmmmm, no contact info at the end of the article to let the editor or the writer know that the article is full of deception and outright lies. Could this be an advertorial? I wonder….

Anonymous
Anonymous
12 years ago

What a good experience with brand name lubricants,position,and toys.no wonder your monkey friend want to run,how long have you been doing it? and oh please share your experience with more open thoughts we will be ohm ahm aha.

PINGBACK you forgot to add the above comment in your mother fucking anecdotal bs.

scullboy
12 years ago

Oh c'mon krrrrish

We all know the real reason you won't sell one of your properties… oh ad that's plural, is it?

It's 'cause your mom needs somewhere to give her clients those infamous "Shanghai extra-lucky double happy ending" massages she's so famous for. plus she'd have to pack up all her…. uh….. equipment. Let's face it, the ol' girl is getting on in years. Hauling that swinging bamboo chair and all those bottle of …. uh… "lotion" around can't be good for her back!

I've heard it's all she ca do to take on two hundred clients a day, and how's the ol' girl supposed to pay the mortgage, what with her son being such a disappointment?

Hey did you figure out where I'm living these days? Don't worry buddy, you're not the first guy to find me irresistible.

patriotz
patriotz
12 years ago

That's the most ridiculous thing I've ever read. Mortgage insurance is only for borrowers who have less than 20% down. If you have 20% or more you don't need it in the first place.

And looking at the whole article, it's yet another attempt to blame the US crash on subprime lending. That's not the cause of the crash. The cause of the crash is that prices got too damn high relative to rents and incomes. It's that simple. Subprime lending was of course one of the factors leading to inflated prices – but it's the level of prices that matter, not how they got there.

And let's point out, again, that Calgary and Edmonton have fallen faster from the peak than any US city except Miami. Explain that one.

beatstreet
beatstreet
12 years ago

Why Canada hasn’t gotten hit by the subprime mortgage bug:

Anyone who puts less than 20% down on the home can't qualify for mortgage insurance by the Canada Mortgage and Housing Corp

Oh really. Someone tell the webmaster at CMHC:

http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_01

Anon
Anon
12 years ago

Why Canada hasn't gotten hit by the subprime mortgage bug:

http://finance.sympatico.msn.ca/Spring/Article.as

Discuss.

Strataman
Strataman
12 years ago

Will we make 17000 Friday? 16714 today from Paul absolutely sick sales for merry May!

Me2
Me2
12 years ago

Make a graph of las vegas prices, I'll show that to a agent,maybe they'll give me a house as I can show them with bear math that the house will be worth negative money in only a few years.

Anonymous
Anonymous
12 years ago

Interest rates are lower because home prices are higher to afford interest rates will be up in your case down in my case.

Do you have a thirty year fixed mortgage SATV? Oh, you don't? Well interest rates are at a historical low, so no chance they'll ever be increased in the future right? Don't worry you'll be bankrupt well before then after losing your sweet box stacker job.

patriotz
patriotz
12 years ago

Flaherty should follow up by brining in 100 year mortgages, to give the market another “boost” into the Olympics.

They've already gone farther than that – they insure interest-only mortgages, which are infinite amortization:

http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_01

Anyone who thinks we don't have toxic mortgages in Canada, just read the above. Thank you Mr. Flaherty for letting the Canadian taxpayer hold the bag.

Anonymous
Anonymous
12 years ago

yours welcome crabman

good luck 2 all the friends

crabman
12 years ago

Krrish, you are too funny! Thanks for entertaining us while we wait for the (99% certain) crash that is starting as we type!

Krrish2
Krrish2
12 years ago

"1. Half the monthly payments (or less)". Interest rates are lower because home prices are higher to afford interest rates will be up in your case down in my case. "2. Someone else fixes problems." There is no land to accomodate too many hl people government must drive people to somewhere else in case some one can't afford to rent here "3. Get to laugh at Krrish when prices crash". won't even catch the falling monkeys a## in your case it will be fun what hole you have dig where no one seems to fit(again in your case) "5. Get your pick of 10’s of thousands of condo inventory in the near future". by signing up contract with management to keep the building clean as CARETAKER "6. Free s/s appliance and hardwood floor upgrades from desperate sellers". Dreams are yours… Read more »

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