Friday free-for-all!

It’s the end of another workweek, and that means it’s time for our regular end of the week news roundup and open topic discussion. Here are a few recent links to kick off the chat:

Shine comes off the housing boom
BC real estate prices set to dip
Fraser Valley real estate flattens out
Fraser Valley stats on housing analysis
Business Insider: Vancouver is nuts
In Vancouver ‘affordable’ means $1600 / month
Negotiating 101: Landlord edition
Woodwards affordable units open
Some Americans just stop paying mortgage
China’s property market freezes up

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

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Island Dude
Island Dude
10 years ago

Thanks to Vansanity and Jesse for the input.

rubberduckie
rubberduckie
10 years ago

@Best place on meth: I'm sure the laneway house people are average enough, and I don't think they're crazy to try "testing the market" with a higher price then coming down.

However, I think that on Craigslist, the more effort you put into a coherent listing (i.e. more than 2 sentences), the more harm it does you. Makes you sound desperate and implies the unit is overpriced.

buff_butler
buff_butler
10 years ago

@Best place on meth: They couldn't finish their soup because it kept filling up with tears? 😮

paulb fan
paulb fan
10 years ago

@Best place on meth: BPOM, you have one of the best sense of humors I have seen. Look forward to your comments.

vreaa
10 years ago

their = there. obviously. didn't proof read it.

vreaa
10 years ago

@No More Gordocracies: yeah, their is a high tension steel bar planted in the base, that comes up through the heel of his shoe, up the back of his pants leg and supports his buttocks and back. He's essentially sitting in a high tech minimalist reclining chair that is INSIDE his clothes.

Very neat.

No More Gordocracies
No More Gordocracies
10 years ago

What keeps Bob Rennie and Home prices up?
http://www.youtube.com/watch_popup?v=6NPF0A_vGC4
anyone figure this out?

Run Buddy Run
Run Buddy Run
10 years ago

@Veej: Aren't you giving an edge to Vancouver real estate automatically? Yes Buy Vancouver real estate or else Americans and Britishers,and Europeans will countinue to stack their money on Vancouver real estate.

USA and their Real estate prices are history because it use to be just Bin Laden and Professor Robert Shiller who have killed American Psychology.Now a days Every Single bloggers,Movie Director,Tonz of scientists and NASA itself are killing their country with Meteor Bombs,Volcanic Eruptions,Tsunami,Natural Disasters,and Global Warming.

Good time to invest in Vancouver because we don't have team of mentally ill organisation called The Wall street coverage on Van R.E.

We don't have son of bitch Motley Fool,He does not live in Vancouver,We have only VHB the old time loser.Run Buddy Run.

No More Gordocracies
No More Gordocracies
10 years ago

@Best place on meth:

Shanghai Exchange means nothing really. Its the Hang Seng that matters…ooops they ain't doing so well either.

Seems like gold is the ONLY thing holding its value. it can go down to 800.00 and still be in a bull market. As Europeans worry about the € they flock to real money, gold.

Vansanity
Vansanity
10 years ago

@Island Dude: Hey Island Dude, here's a link to the Residential Tenancy Act. It covers off everything you need to know. All renters and landlords should be well versed in this. http://www.bclaws.ca/EPLibraries/bclaws_new/docum… It's 2 months or less if you agree to it. Here's the quote: "Subject to section 51 [tenant's compensation: section 49 notice], a landlord may end a tenancy for a purpose referred to in subsection (3), (4), (5) or (6) by giving notice to end the tenancy effective on a date that must be (a) not earlier than 2 months after the date the tenant receives the notice," Here's subsection (5)a referred to above: "(5) A landlord may end a tenancy in respect of a rental unit if (a) the landlord enters into an agreement in good faith to sell the rental unit," Cheers! Tell your wife to… Read more »

No More Gordocracies
No More Gordocracies
10 years ago

Oh NO! House hunters parked in front of my condo building
http://www.youtube.com/watch?v=pCVbyY2ZTjA

jesse
10 years ago

I think it's 2 months' notice but I would ask your landlord to limit the showings and ask for a discount in rent. If they want the place spotless for a showing they can hire a cleaner for you. You pay decent money for the rental and if they want to infringe on your normal course of life, they can pay for it.

vibe
vibe
10 years ago

They sound snotty so we should all harass them? Settle down.

Island Dude
Island Dude
10 years ago

Hello I am a long time lurker on theis blog but seldom have commented. I have a two part question for the collective blog "brain trust". 1. I currently rent a house on the Island where I have been for the last 3 1/2 years. My landlord mentioned that they where thinking of listing the property. I am on a month to month rental agreement. What sort of notice are they required to give me? She is a realtor and I am sure she sees the market declining and she has decided to sell. My spouse is exerting all sorts of pressure to buy a house so that we don't have to move into another rental. You all know the drill here. 2. When I look at listings in my target area here in Nanaimo in my price range there… Read more »

Best place on meth
Best place on meth
10 years ago

@Best place on meth:

Good lord! Shanghai stock market now at 52 WEEK LOW!

Thank god they just broke for lunch – carnage paused for noodle break.

Best place on meth
Best place on meth
10 years ago

@rubberduckie:

The owner of the precious little laneway shack sounds snotty.

We could have a little fun if everyone here e-mails her asking if it's still available, then don't respond to her.

Best place on meth
Best place on meth
10 years ago

@girlbear:

Godzilla rampaging through Asian capitals again!

Aiya!!!

rubberduckie
rubberduckie
10 years ago

Ooh, our favorite garage apartment is still available, and the price is reduced by a whole $100!

http://vancouver.en.craigslist.ca/van/apa/1775897

Please, won't someone rent this gorgeous studio and help a landlord pay his mortgage. Please note! It comes with an under-house bin for your comic book collection!

"In the backyard, under the owner’s house, there is also a very large roll away storage bin that is exclusively for renter use (3ft X 9ft X 3 ft deep). This bin is off the ground and comes with a lock. "

CashedOut
CashedOut
10 years ago

Just to clarify… I think the condo is 'worth' the asking rent.

realpaul
realpaul
10 years ago

When food costs rise here people apply for another credit card and pretend its not happening. Its another piss off when milk cheese meat bread eggs pasta rice ketchup etc etc go up 40 to 50% but the government uses the local uncaring attitude as a lever to screw on new taxes and fees because people here are entirely complacent. Its another fallacy of debt and the ability of government to lie away the facts about inflation. But……..when this same inflation is exported into the third world where people have no credit cards and pay day loans this 50% annual food inflation is causes direct and immediate starvation. http://news.yahoo.com/s/ap/20100607/ap_on_re_as/g… We are watching the government create this runaway inflation here by its subsidy of intrest rates and debasement of value. The wealth effect creates a peter pan world for massive numbers… Read more »

CashedOut
CashedOut
10 years ago

Long time lurker… infrequent poster, looking for some advice/reality check: My family and I sold our yaletown condo in June 2008 and are renting downtown while we wait out (for) the crash. With a new addition to the family, we are thinking of moving up from a 2 bed to a 3. Our household income is 125k, we have no debt and a substantial amount of savings (400k) for a downpayment. Here is my question: Is $3100 / month too much for us to pay for a 3 bedroom condo downtown? I know the rule of thumb for shelter is 30-40%. But that is usually quoted for costs of ownership, not 'throwing your money away' renting. 😉 The budget says we can swing it, but I'm looking for some validation here, or a reality check that tells me it's way… Read more »

Animal Spirit
Animal Spirit
10 years ago

chip – you didn't answer my question. Your comments on oil – are they out of personal interest, or another agenda?

buff_butler
buff_butler
10 years ago

@chip: Concentration over time matters.

girlbear
girlbear
10 years ago

Asian markets getting pounded….again…

http://finance.yahoo.com/intlindices?e=asia

Patsan
Patsan
10 years ago

Peter Pan,

I have a signed lease agreement that ends on Novemeber 30. According to the BC Tenancy Act, "a landlord may end a tenancy… by giving notice to end the tenancy effective on a date that must be, if the tenancy agreement is a fixed term tenancy agreement, not earlier than the date specified as the end of the tenancy."

I hope that my landlord knows that and he needs to try to find an investor buyer who would pick up the lease. If he gets a buyer who wants to live in the house, than the landlord would probably have to oil the wheels to get me out.