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Pay your money, bdk, and you can see everything I see. You’re fortunate I gave you that little tidbit. Now stfu.

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Again, not very plausible. Although the numbers are right…

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“I simply cannot believe anyone who would be stupid enough to pay $370,000 for a C building downtown which will rent for $1350…
when you subtract strata fees of $200 and the various day to day expenses the buyer is making a return of 2% if he owns the unit outright and pays no property management fees but otherwise it is a loss and there aren’t anymore rich people coming who weren’t here in the 1990′s other than some temporarily overpaid construction workers”

Don’t ask for the link HEY the OLYMPICS! RICH PEOPLE!

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Correction: slimy out-of-work sales dudes.

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I’d say that the business was ok but they needed money and couldn’t get any. I always thought they were franchised because some seemed to have much more invested in them then others.

BTW, I bought a sofa there once, and I felt dirty afterwards, but the product quality seemed good, just slimey sales dudes.

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http://www.reuters.com/article.....3120080901

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http://www.canada.com/vancouve.....72bc3cb2f2

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“Spain, described above, was one example. Vancouver,B.C., was another, as hundreds of thousands of wealthy orientals moved there, at first just to get a Canadian passport and have a foreign bolthole. And then many stayed because it may be the nicest city in North America. Although, I’ve now got to say, if you have property there, it’s an excellent time to hit the bid.”

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I’d suggest checking out hotel room rates in Munich during Oktoberfest or another such festival in another city to see an example of what is likely to happen. BTW in Munich there is a network of homestays as well that is brought into service to fill the swell of tourists. I’d expect Vancouver to be the same but won’t be anywhere near as experienced or professional about it.

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we’ll have to see, but I haven’t seen anything to suggest that our hotels will be so insufficient (especially considering it’s Whistler & Vancouver) that visitors will be pushed to pay so much. For those prices I would at least expect a daily cleaning service, wouldn’t you? I didn’t watch any of the Beijing Olympics, I don’t know anyone who cares all that much about the Olympics (sometimes a specific sport, but not the whole thing).

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http://tinyurl.com/5bj6qr

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I posted a trollish reply (#2) just to see what she’d say.

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It sounds like one of those situations where you could rent out your flat during the Olympics but you don’t have to. $50K for Edgemont “Olympic” Village may be silly but maybe $200-$300/night for 2 weeks isn’t that unreasonable for some? There is POTENTIAL one-time income (net expenses and risk) on the table that is available right up to the Olympics. In my estimation it won’t amount to more than a few $K on average and probably lost in the noise in terms of fairly priced valuations. No clue what’s priced in now.

Whistler vacation condos are a different story and probably a better example of the “dividend conundrum” at play, with the added wrench that you need to rent it out or sell or you’ve lost money; impugned rent is crazy expensive.

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Rentah: I expect that there is a large chunk of people who a) knew that the Olympics are not going to have a long run positive effect and b) thought they could get out and sell just before the Olympics. I think that these people will indeed start to bail now as things become clear that we are not going to make it to 2010 before things crash.

However, I really think that there is a hard core of people who truly believe in the 2010 hype and will not be disuaded of it until, oh, late 2010 or so. That is when the window for a Van RE bottom will begin to open. I think it is extremely unlikely that things will bottom out before the Olympics because we have to squeeze the last bit of olympic sentiment out of the market first.

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