Comments on: Buy a house, get a free car.

By: xnedra

xnedra — Fri, 10 Sep 2010 22:05:51 +0000

I think I've got an even better rent deal that most of the posts I've seen on here. It's in New West, but in the Queen's park area (super nice and close to all amenities and skytrain.) Also is 1 bed but at least 700sqft. $750 a month, includes heat, hot water and full cable

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By: Bilbo Bloggins

Bilbo Bloggins — Wed, 07 Jul 2010 16:21:45 +0000

@CashedOut:
Forgot to address your high rent question.
Compare rents in Vancouver to Toronto or Calgary.
High end condo like Waterfront in Eau Claire (Calgary) is 2850 for 915sf.
You can get into Shangri-La 1100sf for 2850.
Yes, living in downtown is expensive everywhere.

Think 2850 is a lot to pay for rent? That is cheap.
Consider mortgage payment would be easy 4600.
Amateur condo landwads don’t know how to calculate their ROI.
They don’t factor in holding costs, property taxes, or strata.
Everything is dependent on finding that sucker buyer.
Yet they wont be able to handle the worse case scenario.
Which is holding the darn condo for 35yrs while losing over 2000
a month during that time.

Rents are dependent on local incomes.
They are not guaranteed to rise over time.
But you can be assured that taxes, interest rates, and strata fees will.

If you make less than 70K, you should not be in downtown.
My advice to lower income earners, find a nice basement
suite near transit. They don’t have the same appeal as
an apartment, but your dollar will go far.
And there are many newer or newly renovated suites for
rent at reasonable prices all over the city.

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By: laneway

laneway — Wed, 07 Jul 2010 15:32:02 +0000

@CashedOut: Rent $1350, 2 bed, 2 bath 977 sq feet 6 year old building market value est $400k

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By: Bilbo Bloggins

Bilbo Bloggins — Wed, 07 Jul 2010 15:21:21 +0000

@CashedOut: Sure, my numbers 2550 rent. Mkt value 1.25M Renting gives you huge intangibles. Mobility is the biggest one. I hate fixing things. Once the condo I'm in hits 5yrs or more its time to move. Ya call me a leech. Hey I didn't set this system up.

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By: superduperbulltime

superduperbulltime — Wed, 07 Jul 2010 15:15:24 +0000

Well bear now that Canadian in running for podium finish in TDF real estate market about to take off like Contador after cobble stone crash. Bear will be lying on side of road in pain like Frank Schleck after market double in next 3 year. Just like TDF you never know what can happen. Ryder Hesjedal was domestic for Vandevelde two days ago bear and now maybe podium in paris.

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By: realpaul

realpaul — Wed, 07 Jul 2010 14:47:41 +0000

Royal Le Crap article soft sells the obvious.

http://www.vancouversun.com/bu.....story.html

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By: chip

chip — Wed, 07 Jul 2010 09:48:23 +0000

@Man does registering screw things up: "Can be viewed evenings weekdays or weekends during the day. " Can also be seen if you shade your eyes and squint really hard.

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By: Man does registering screw things up

Man does registering screw things up — Wed, 07 Jul 2010 07:31:03 +0000

Man this it too funny;

http://vancouver.en.craigslist.....69068.html

Yeah, I’ll live in your tool shed and pay you too!!

Can I bring my kitties?

http://www.youtube.com/watch?v=j-_34Uflm5Q

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By: zug zug

zug zug — Wed, 07 Jul 2010 07:11:18 +0000

Also to compute price to rent I think you should subtract the strata fee from the rent, to show what you would actually save by buying. For me it is something like $150/mo, and the places sell to lunatics for 180-200k, so the ratio is 225-250x. Not that I would buy the place.

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By: zug zug

zug zug — Wed, 07 Jul 2010 07:04:15 +0000

Abbotsford, $950 for 950 sqft includes heat.

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By: DEFAULT NAME

DEFAULT NAME — Wed, 07 Jul 2010 06:16:46 +0000

@CashedOut: Westend 1 Bedroom $1035 700sqft. I would guess $350-400K for an equivalent building in the area. Don't forget the maintenance fees.

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By: Chilled

Chilled — Wed, 07 Jul 2010 05:30:45 +0000

I'm almost starting to think that this JUNIUS thing is some sort of split personality thing, a 'Carrie' thing, a typical day on the downtown eastside. But then again, there could be two Junius' and for that I apologize. Handle jacking is as bad as driving up the shoulder and cutting in.

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By: CashedOut

CashedOut — Wed, 07 Jul 2010 05:30:45 +0000

@Bilbo Bloggins: Do you really feel like you're saving so much money renting? Vancouver is still a damn expensive place to rent, granted at about 50% the cost of owning. I don't feel like we are banking so much cash... and at 50% the cost of owning I can't figure out how the home-debtors are even meeting expenses on a monthly basis! I'm just wondering though, what are ppl actually paying to rent and how what do you figure the market price of your rental is? I'll go first: Area and approx square footage would be interesting too... Yaletown, 1200 sf, $2400 /month, est Mkt Price, $800k.

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By: Bilbo Bloggins

Bilbo Bloggins — Wed, 07 Jul 2010 05:23:12 +0000

@Mike: Thoust r right. I only bring up the brand new SUV comment as a comment on how liquid and better off I am currently renting. Will likely lease (I have a business to write the expense off) or look at a used vehicle from the States.

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By: Chilled

Chilled — Wed, 07 Jul 2010 05:20:41 +0000

63 anonymous Says:

July 6th, 2010 at 7:03 pm

Mish has something to say about the housing market in Canada:

http://globaleconomicanalysis.blogspot.com/

+++++++++++++++

I saw Garth holding Mish in a headlock, extreemly pissed for nary an attempt to paraphrase.

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By: junius

junius — Wed, 07 Jul 2010 04:50:33 +0000

vreaa you tell him, and thanks! he's been tailing me around for weeks junius

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By: DEFAULT NAME

DEFAULT NAME — Wed, 07 Jul 2010 04:25:08 +0000

Registering for a user account on this site will prevent other people from posting under your user name.

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By: vreaa

vreaa — Wed, 07 Jul 2010 04:23:41 +0000

@specuskeptic: Thanks for the CBC-clip link. Love the flipper story. "He's invested in two other houses." Yes, of course, pyramiding. Clearly the whole house of cards has to collapse for most people to actually get it.

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By: Animal Spirit

Animal Spirit — Wed, 07 Jul 2010 04:00:00 +0000

@specuskeptic: love it with the vuvezela. how come it reminds me of the sounds of mosquitos on a beautiful Northern Ontario morning? http://www.soundboard.com/sb/Mosquito_sounds.aspx

hmmm – Mosquito animal spirit invading the market – could be an interesting time for flipping RE agents.

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By: junius

junius — Wed, 07 Jul 2010 03:39:10 +0000

ho hum Pops. Your call on the Vancouver housing market has been dead wrong since day one. Go borrow your brains out and leverage up your winnings. junius

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By: Junius

Junius — Wed, 07 Jul 2010 03:37:28 +0000

junius junior You have a lot to learn. I'm the alpha male here! I am omnimpotent! Junius

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By: junius

junius — Wed, 07 Jul 2010 03:35:57 +0000

Junius #70 Go buy a house. Or two. Take a hike. junius

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By: junius

junius — Wed, 07 Jul 2010 03:35:00 +0000

Junius - get lost. You have nothing to add to the discussion here. Go get yourself a date on your eHarmony account. junius

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By: Junius

Junius — Wed, 07 Jul 2010 03:32:59 +0000

junius #56, You don't think. You just copy. Get your own name asshole.

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By: Superfly

Superfly — Wed, 07 Jul 2010 03:16:11 +0000

Interesting, only 250 sales entered Mon/Tue. No blip due to the Canada Day holiday. We are currently running a monthly rate around 2500-2700.

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