Comments on: The debt trap

By: Woody

Woody — Fri, 25 Jul 2008 10:22:46 +0000

No I don't have an assignment at Woodwards, I wish I did as they're worth quite a bit more then they were purchased for. Like I said earlier wait 5yrs and then report back.

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By: trauma scene cleanup

trauma scene cleanup — Fri, 25 Jul 2008 05:58:59 +0000

it used to be that you could make mistakes when you were young but it wasn't so extremely destructive. Now with companies begging you to take their credit cards, a young person can literally rack up hundreds of thousands of dollars in debt... It's wrong and something should be put in place to not allow it... Middle aged plus people that rack up that kind of dept, tough you should have thought about it before you maxed out all your cards...

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By: Drachen

Drachen — Thu, 24 Jul 2008 21:42:21 +0000

Time, Krrish, whoever Do you really think that the W is part of Gastown and not the DTES? I suppose that explains a lot about you. If you thought there was a profit to be had in green skies you'd believe the sky was green too.

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By: blueskies

blueskies — Thu, 24 Jul 2008 21:17:10 +0000

time: "W" an intellectual RE roadkill property "be bold or move to the suburbs" a marketing campaign that'll come back to haunt you

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By: Time

Time — Thu, 24 Jul 2008 21:12:12 +0000

"Coal Harbour didn’t have the highest concentraion of social services, HIV, Mental Addiction" If you think Gastown has it then question is where do they come from?I think they were us before and now it's them. "and the most impoverished postal code in all of Canada." So what?Is there anybody in gastown ever wanted to move out from that place?Answer is NO! Do we have more listing in gastown than downtown or coal harbour? Answer is NO! "The Woodwards project will be the epitome of everything that’s wrong with the bubble and will easily lose as much as the worst of the California, Las Vegas or Florida bubbles" So your motive is bubble campaign why are you wasting time making stuff up?why are you hunting "W" for crack? while your previous worried were washed away without any lose?I mean to say all those spectrum,la hermitage,raffles,and alberni!hey!you never returned back to report any bleeding?at the end why don't you simplly admit that you are an idiot!!!!!in fear and in your own dreams making stuff up to hide what have you done before?,please take exit no.11(legs).

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By: bdk

bdk — Thu, 24 Jul 2008 20:47:35 +0000

Woody. Coal Harbour didn't have the highest concentraion of social services, HIV, Mental Addiction and the most impoverished postal code in all of Canada and when Marathon Lands started selling Coal Harbour it wasn't $525 sq/ft either. Comparing the most desirable area of Vancouver with the Slum of all of Canada is not compareable and the junkies won't give a sh*t if two towers go up. Yaletown was nothing like the downtown eastside either. You must be joking around if you think $525 sq/ft is a good deal. Qube was $500 sq/ft and will be again soon as a landmark building in a nice area should be. The Woodwards project will be the epitome of everything that's wrong with the bubble and will easily lose as much as the worst of the California, Las Vegas or Florida bubbles. The residents will be reminded of this when they find dirty needles in their elevator and have people smoking crack outside the parkade gate. No concierge will want to work there. I hate to pick on you Woody but what you said is just so assinine it deserves ridicule. Do you understand that the average incomes of Vancouver? Is it going right over your head that only hte elite can afford to pay those prices and none of them would be stupid enough.

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By: blueskies

blueskies — Thu, 24 Jul 2008 19:20:08 +0000

woody: do you have an assignment or unit at "W"?

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By: Drachen

Drachen — Thu, 24 Jul 2008 18:49:05 +0000

jesse "so it makes you wonder who’s briging down the number below zero?" Another big one from what I understand is boomers withdrawing home equity to help finance their children's homes.

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By: VancouverGuy

VancouverGuy — Thu, 24 Jul 2008 16:51:21 +0000

If the market pulls back 25% they won't be laughing. If downtown condos are at $650/sf right now, a 25% pull-back would leave you at $488/sf. If you had equity of 25% initially, you would lose 28% of your initial capital. Ouch. If you had more leverage, you lose more money. If you had 92% leverage, you've lost it all. Theoretically, if you only had to put down like 10%, you are almost equity negative and you could potentially walk away. Do they require a personal guarantee on those obligations? Would they allow me to buy assignments using a special purpose vehicle? Are they sophisticated enough to know what that means (non recourse to the owner)?

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By: Bubble Lad

Bubble Lad — Thu, 24 Jul 2008 16:12:43 +0000

betamax - I agree - not to mention all the funky businesses that are down there now taking advantage of the cheap rent (like my fav - Boneta's) that are going to be be forced to close because everyone's disposable income is the first thing to vanish in a recession. If the boom had continued for another 3-5 years, the DTES might have had a chance. I think the Woodward's building is going to prove to be the high water mark for "development" down there. The irony is that it stands a solid chance of going right back to where it started - a squat for everyone who lives in the area right now.

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