Welcome!
VancouverPeak.com- jesse and Makaya are now friends
- jesse replied to the forum topic Sandbox. in the group Housing Data
- jesse posted an update: CMHC starts, completions and under construction in Vancouver […]
- The Ant started the forum topic BC Population Growth in the group Housing Data
- jesse and The Ant are now friends
- jesse and wreckonomics are now friends
- wreckonomics posted an update: New Year, New HPI. ”Selection Broadens and Demand Eases to […]
- Best place on meth and admin are now friends
- jesse and Best place on meth are now friends
- jesse replied to the forum topic February 2012 Daily Numbers in the group Housing Data
Wordpress theme by Abhishek Tripathi of Mediawick Digital Solutions
May 14th, 2008 at 7:38 pm
Krrish, you are too funny! Thanks for entertaining us while we wait for the (99% certain) crash that is starting as we type!
May 14th, 2008 at 7:23 pm
“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 you can have it all by paying or just dream it.
“4. Save Hundreds of Thousands of dollars”.
ONLY IF YOU BUY TODAY
Two Exchanges with Realtors « Vancouver Real Estate Anecdote Archive Says:
May 14th, 2008 at 7:11 pm
[...] May 2008 · No Comments This from bdk at Vancouver Condo Info 2008-05-14 12:27:12 [...]
May 14th, 2008 at 7:05 pm
Great! Who’s invited? Do we need to buy tickets for the ceremony? More hot dogs. That is all I have been eating the past year because that is all I can afford. I bought Summer of 2008 because it was a great time to buy. Can’t pass up a free meal though.
May 14th, 2008 at 7:00 pm
What are they going to get for all this mess?
1. Half the monthly payments (or less).
2. Someone else fixes problems.
3. Get to laugh at Krrish when prices crash.
4. Save Hundreds of Thousands of dollars.
5. Get your pick of 10′s of thousands of condo inventory in the near future.
6. Free s/s appliance and hardwood floor upgrades from desperate sellers.
May 14th, 2008 at 6:33 pm
Crabman,Bdk,
I have no plan to sell my properties other than just one unit in july to make a room to buy house later on.Anybody selling their property in fear or for high prices this is what they going to lose
1.Ownership title
2.Status as first time buyers
3.Fee to Realtors
4.Lower Interest Rates.
5.Brand new mortgage term
6.Start from Interest Rates again instead of principle
What are they going to get for all this mess?
TENENCY
If you think prices going to fall I will be singing Annie are you OK -a smooth homeowner from micheal jackson but the reality that will bite your a## is that PRICES ARE GOING UP decade after decades!
BDK? CRABMAN?
May 14th, 2008 at 5:37 pm
BBY “I wonder who the delinquents are” So far owner tenants are the majority. Usually a young couple over their heads in mortgage payments. I would suspect at this stage of the flipper game those types (flippers) will keep up their strata fees as they are selling (almost 17000of them!), and a delinquent strata fee (which would show up to a prospective buyer) does not suit them in their power flipper role, they would however probably default on the residence they live in however!
May 14th, 2008 at 5:18 pm
I love the likes of nyc when they resort to insults arising from their frustration with that little voice inside their head telling them: “You are screwed buddy, you should not have bought this overpriced piece of crap…”
Noname
May 14th, 2008 at 5:10 pm
Prices in Vancouver are still cheap, I can sell my Bentley with New York plates and buy a condo. I don’t need so many cars as my Coal Harbour condo is close to cafes and a short wobble to work.
May 14th, 2008 at 5:01 pm
Thanx strataman. You said”Our percentage of strata fees in arrears is growing, something that was non existent last year is now around 7%.”
So, 2007 had near 0% strata fees in arrears, now in 2008 we have 7%. In Vancouver? This is quite enlightening, as it should indicate the amount of fiscally distressed owners. Would be wonderful if you monitored this for the Van RE Bear Blogosphere. I’d sure like to see a graph of this to watch for a trend. I wonder who the delinquents are? Owner tenants, amateur landlords, or blatant flippers.
Anyhow, kewl data point to consider. Thanx.
May 14th, 2008 at 4:24 pm
BBY “Anything special about the Vancouver situation that would prevent what the article describes is happening in Miami?”
Not really as this is already happening here, but like the property market is behind the US. Our percentage of strata fees in arrears is growing, something that was non existent last year is now around 7%. A majority of Strata councils are doing little or no maintenance except cosmetics, and those councils are typically dominated by speculators. There are some really good strata’s where the council is pro-active and the majority are either homeowners living there or long term investors who have no interest in making a quick buck. The rule of thumb I use is; if the strata is dominated by absentee landlords then likely it is a bad building or will be one fairly soon. If all the strata members live there and especially if they have lived there for > 3 years then you probably are looking at a good building. Simple rule is if there has been no maintenance fee increases equivalent to 3-5% on an annual basis you likely are moving into a building with speculators who want to make a quick buck and could care less if the building falls apart later. If the capital contingency is inadequate, (many buildings) steer clear. Lower then normal maintenance fees is a symbol of bad management on the stratas part, as they are just deferring the cost to the next buyer. Would you buy a vehicle from me if I said “hey this thing is maintenance free I just change the oil and wash it every month” or would you buy from me if I showed you regular service checks from a reputable dealer?
May 14th, 2008 at 4:01 pm
Krissh thinks we can’t tell that it’s him when he posts under anonymous. As if there are two semi illiterate borderline retarded trolls.
My source told me Krissh has been trying to sell his condo but can’t find a buyer.
My advice is simple sell it for whatever you can get today because it’s going to drop for decades to come!
May 14th, 2008 at 3:51 pm
“either you post a comment based on what you think is making a sense or you don’t post that bs again.”
WTF? I gave credit and a citation. Anything posted on the internet is free to be cited with proper credit which I did. Do your own research if you like. The data is real and not “bs”, whatever that means, but you can choose to disagree.
May 14th, 2008 at 3:49 pm
Just walked around downtown this afternoon. Holy crap there’s a lot of excess condo supply getting built right now! I can’t wait until they hit the market! Hey krrish and NYC, what will you do when your properties are selling for 35-50% off?
May 14th, 2008 at 3:38 pm
Strataman?
Any response to bdk’s article link regarding housing crash induced strata fee increases?
2008-05-14 12:27:12
Apparently Strata Fees have become an issue in other cities where the bubble has burst.
http://www.nytimes.com/2008/05.....f=business
I appreciated your thoughtful comments to my previous question regarding strata fees, but perhaps this deserves further consideration. Anything special about the Vancouver situation that would prevent what the article describes is happening in Miami?
May 14th, 2008 at 3:36 pm
“but I know the answer”
post the answer please?
May 14th, 2008 at 3:32 pm
waste valuable time
That about sums up your comment. I’d ask if you actually had a point, but I know the answer would be just as unintelligible.
May 14th, 2008 at 3:23 pm
Tony,Jesse,
Recently I have notice this guy luc has nabed vhb and mohican and finally tony called him troll to save bears from the bulls,When luc had argue vhb never come to explain things,
So here is question for jesse if some one like to give rant to vhb who is going to respond because graph are not your property not even vhb’s and you just have post that link without explaining the scene.What to response to structure without legs and arms do you like to waste valuable time,either you post a comment based on what you think is making a sense or you don’t post that bs again.
May 14th, 2008 at 3:16 pm
Why them’s fightin’words!
May 14th, 2008 at 3:12 pm
that’s assclown to you dingus
May 14th, 2008 at 3:10 pm
nah, he’s just being an asshat.
May 14th, 2008 at 3:03 pm
How appropriate for this blog that today’s posting is pure fiction.
Fits right in here.
You mean here as in your post? I don’t get it, is this Realtard agent humour?
May 14th, 2008 at 3:01 pm
nyc, here’s some reading from the non-fiction section. Courtesy VHB.
May 14th, 2008 at 2:58 pm
dogpile on NYC! and maybe a wedgie?
May 14th, 2008 at 2:43 pm
nyc, you don’t mean to infer that the other stuff posted on this site is TRUE do you?!? I mean come on, sales dropping off in Vancouver?!? Condo prices dropping in May?! 1000 new listings in a week!?
Thats so outlandish there’s NO WAY it could be true, not in the greatest city on earth!
May 14th, 2008 at 2:31 pm
Oh f*ck, I laughed so hard I spilled my coffee! Hilarious. Mayor Cam Muir.
Well done.
May 14th, 2008 at 2:27 pm
Strataman:
Any comment on today’s link from bdk regarding increased strata fees? I appreciated your thoughtful response to my previous strata fee question, but perhaps this needs further consideration and discussion.
bdk said: Apparently Strata Fees have become an issue in other cities where the bubble has burst.
http://www.nytimes.com/2008/05.....f=business
May 14th, 2008 at 2:26 pm
How appropriate for this blog that today’s posting is pure fiction.
Fits right in here.
May 14th, 2008 at 2:11 pm
Re: Homes market flooded by sellers
I am glad we don’t have subprime in Canada. Only 40 year mortgages. Another brilliant policy move from Ottawa to help ensure things are different here.
Flaherty should follow up by brining in 100 year mortgages, to give the market another “boost” into the Olympics.
May 14th, 2008 at 2:10 pm
who knew that shipping containers on False Creek barges would sell as housing?
You must be mistaken, the ‘four bed homes’ made out of discarded shipping containers are in whistler. It’s the place to be.
I’ll be posting the depreciation fantasy tomorrow morning.
May 14th, 2008 at 2:01 pm
I remember seeing the same graph a few years ago, problem was it came to be.
My chart predicting the $3 million average condo price by 2010 came to be? How could you know that.. unless… Hey you’re from the future! I’m honored! I’m curious, who wins the US election?
Also some winning lotto ticket numbers would come in handy..
May 14th, 2008 at 1:55 pm
Apparently Strata Fees have become an issue in other cities where the bubble has burst.
This could all be quite ugly, especially in those condos that aren’t so green but are “well lit” (i.e. the developer put in lots of lights to make it look bright to make a good impression).
Electricity bills are going in one direction only. While everyone needs to heat their house, only condo owners have the obligation to pay for brightly lit halls, foyers and exteriors.
Perhaps windmills on top of the some of the taller condo developments might help reduce the monthly overhead?
Then again, perhaps its different here and Vancouver can continue to justify price-to-rent ratios that are beyond the peak of the US bubble.
May 14th, 2008 at 1:00 pm
MORE BIG TROUBLE
May 14th, 2008 at 12:57 pm
Hi Mr Mayor…..I recently found enough money for petrol to drive to downtown Vancouver from warm sunny Richmond and found it to be pouring rain when I arrived. I was feeling a little gloomy and so I drove around looking for a coffee shop for a caffeine drug boost and though I had no problem finding one as I drove, 20 in fact, I couldn’t find a park for the car so I drove back to Richmond and called a cab thinking I would go back downtown when I suddenly discovered a coffee shop 100 yards from my house. I sat outside in the sun and looked to the north and saw dark ugly clouds.
Now I know why this idiot Michael Randallbard used to suggest that theme for your city…what was it? Oh yes…
INVITE THE WORLD
TO GO HOME.
May 14th, 2008 at 12:54 pm
from the G&M:
http://tinyurl.com/5385lu
Homes market flooded by sellers
May 14th, 2008 at 12:44 pm
“I remember seeing the same graph a few years ago, problem was it came to be.”
What a great point. If only Pope had only shown this graph 2 years ago I’d have saved a lot of time reading blogs.
May 14th, 2008 at 12:27 pm
Apparently Strata Fees have become an issue in other cities where the bubble has burst.
http://www.nytimes.com/2008/05.....f=business
Just talked to a realtor who I’ve known for decades and he said it’s getting ugly, that the sellers haven’t figured out they need to lower their asking prices and the few buyers out there are low balling like crazy, he mostly works in the westside and yaletown.
May 14th, 2008 at 12:25 pm
I remember seeing the same graph a few years ago, problem was it came to be.
May 14th, 2008 at 12:24 pm
heh, nice attempt at a krrish impersonation, but alas, it was too coherent…try harder next time.
May 14th, 2008 at 12:11 pm
See! I tole you! Why you no risten to me? Luk at all dees gurlz! You guys still loser, now I worth multimillions of dollar and you still rent! I raise rent on you! Minimum 25% because downtown is place to be! Should have listen in 2009 when it only cost $1.5M for 1 bedroom condo! You loser live in mom basement!
May 14th, 2008 at 11:32 am
Vancouver Mayor Cam Muir
LOL!
i love satire!
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.
otherwise known as the mandatory bunkbed clause.
who knew that shipping containers on False Creek barges would sell as housing?
May 14th, 2008 at 11:17 am
or buy one. if houses are that costly, there will be lots of people selling babies to afford to live here.
May 14th, 2008 at 10:36 am
It’s unlikely Rennie’s going to be having any more kids now that he’s out of the closet. They could adopt.
May 14th, 2008 at 10:32 am
Ah Pope.
This post is just one more reason I adore you.
May 14th, 2008 at 10:27 am
it should read “free hotdogs for the kid (singular)”, no? Can’t see anyone other then Rennie being able to afford kids in that scenario…
May 14th, 2008 at 9:58 am
Obviously this will happen! The action is downtown! There are cafe’s!
May 14th, 2008 at 9:32 am
Hahahahaha! Awesome post. You made my morning
Thanks for the hearty laugh….Perfect pitch. But why is there still a small spot of fear in my heart that this market may indeed be just that stupid?
May 14th, 2008 at 9:28 am
I think that scenario is entirely possible. Other news headlines at the same time would be “Canada very close to surpassing the Zimbabwe dollar” “Mugabe entertains mayor of Vancouver”
May 14th, 2008 at 9:19 am
i should really get in to the market now.
May 14th, 2008 at 8:57 am
On the flip side, if we ignore common sense and only look at numbers… from the past couple months’ inventory rise we can extrapolate that in 2011, listings will be over 150,000 units. Of course, this is a “leveling-off” period for prices, which will still continue to appreciate at a slower rate.