Friday free-for-all!

You know the drill…

Post your news links, thoughts and anecdotes here and have an excellent weekend!

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Lana
Guest
Lana
5 years 8 months ago

Canadian banks reduce many of their mortgage rates by 0.1 per cent
http://www.canadianbusiness.com/markets/headline_

Anyone has an idea of the tendency for the sales in August?

Prca
Guest
Prca
5 years 8 months ago

Enough is enough wit that crap "First!". It's not funny any more.

Mike
Guest
Mike
5 years 8 months ago

Was it ever funny? 🙂

CanuckDownUnder
Member
CanuckDownUnder
5 years 8 months ago

So the Realturds(TM) are saying sales are down in BC because of the beautiful weather and the HST:

http://www2.macleans.ca/2010/08/19/blame-it-on-th

Yet sales in Calgary are down 42% despite the lack of HST as well a summer which has been by all accounts miserable, there still hasn't been a 30C day this year.

Calgary isn't "lagging" the country, it's leading the country. It's now been 3+ years since the real estate peak that couldn't even be revived by 0.5% interest rates.

jesse
Member
5 years 8 months ago

@Lana: Sales are about the same as July. They are, relatively speaking, on the weak side but not outright collapsing like they were in 2008. Low rates still have some impact IMO.

vanpro
Member
vanpro
5 years 8 months ago
Talk about the flip-side to Vancouver, 72% of homes in the US require less than 28% of median household income to service total housing costs (debt payments plus taxes etc…) -and still they can't sell!! Right now the avg. Vancouver SFH is around to 80% of median income!! The least affordable city in the US is NY City where the median house price is ONLY $426,000 (vs. median income of $65,600 – this includes all burroughs) – that is almost 1/2 of East Vancouver SFH. $450k is still a high price for a SFH on a worldwide scale – and… Read more »
realpaul
Guest
realpaul
5 years 8 months ago
So, The Liberals trying to derail the will of the people by having their bum boys dragged through the byzantine court sytem eh? The fact is that more people voted against HST than voted for the Liberal movement in the last election. The fact is they're trying to ram it up our asses whether we like it our not. The fact is that everything from the inflation numbers to the crash in RE sales and the closing of hundreds of small bbusinesses is leading straight back to the HST. Can they have it both ways or are we just fucking… Read more »
BigMomma
Guest
BigMomma
5 years 8 months ago

Eighth!!!!!

Lana
Guest
Lana
5 years 8 months ago

@ Jesse

Thank you 🙂

Cranteeny Bitchezz
Guest
Cranteeny Bitchezz
5 years 8 months ago

@vanpro: Yeah but they don't have rich asians, rich baby boomers, WINTER OLYMPICS, mountains, the beach and 200+ days of rain per year in the US. It's different here(TM)!

shikko
Member
5 years 8 months ago

Topic change: what is the average per sq.ft. construction price in Vancouver?

Actually, let me amend that: what is the average per sq.ft. construction cost in Vancouver for a well-built house? I feel I should be specific about that after seeing some of the building defects in this city…

I saw in the latest Froogle Scott entry on VREAA that reno costs ran him about $10k/week for a competent and professional crew. Does that happen to apply to new construction? If it takes seven months to build a house, would that give you a $300k cost?

No Longer Looking
Member
No Longer Looking
5 years 8 months ago

I found this rent reduction interesting:

http://vancouver.en.craigslist.ca/pml/apa/1909161

First of all, the rent was sort of affordable for a grocery store clerk already. I live near this area of purpose-built rental buildings and have watched the FOR RENT signs skyrocket. A couple of years ago, you would have had to line up for these buildings and cross your fingers. The CMHC stats for apartment rents are going to get interesting.

VRENGD
Guest
VRENGD
5 years 8 months ago

We don't really have "the beach" either. Our beaches are merely sea-side sandboxes compared to real beaches such as the ones in california or barcelona.

By Vancouver standards, even Toronto has beaches.

Vanrod
Guest
Vanrod
5 years 8 months ago

@No Longer Looking: looks like a perfect bear den.

Best place on meth
Guest
Best place on meth
5 years 8 months ago

@Lana:

Looks like August sales will be even worse than July was, around 2100-2200.

Blame it on yard work and wealthy Chinese enjoying the Shanghai Expo.

jesse
Member
5 years 8 months ago
Anoymous
Guest
Anoymous
5 years 8 months ago

I honestly have no idea why some of you whiners still live here. You complain about the weather, the beaches, the others who live here, the price of real estate, lack of things to do here, that Vancouver isn't a world-class city, etc, etc, it's a never ending list. Seriously, just live somewhere else. You'll be happier for it, and so will the rest of us.

bums up2
Guest
bums up2
5 years 8 months ago

I'd love to move; I hate this shit town. But I do have a life here: friends, family. It's unfortunate but like many people I'm trapped slogging it out here and can only dream of retiring somewhere nice.

Fortunately my girlfriend may have to move in order to take advantage of her shiny new Master's degree– thanks to Vancouver's crap job market. So I may still escape yet.

Fingers crossed!

fixie guy
Guest
fixie guy
5 years 8 months ago

@ Anoymous

You're mistaken. Most aren't complaining about Vancouver per se, just some of the putzes who live here and seem incapable of any perspective that doesn't put them at the pinnacle of the food chain. The weather I can take.

Cranteeny Bitchezz
Guest
Cranteeny Bitchezz
5 years 8 months ago

@Anoymous: Yeah sounds easy but where else in the world can I find a high paying corporate head office job, affordable living costs and an awesome lifestyle?

Hey I know, if all the whiners are bugging you so much that you need to post your whining little rant then why don't YOU get the fuck out?

Cranteeny Bitchezz
Guest
Cranteeny Bitchezz
5 years 8 months ago

@VRENGD: Did I mention the WINTER OLYMPICS? Yeah we had 'em and TO didn't, suck it TO.

Cranteeny Bitchezz
Guest
Cranteeny Bitchezz
5 years 8 months ago

Felix Salmon gives a shout out to Vandirty in his latest piece over at SeekingAlpha:

http://seekingalpha.com/article/220931-why-the-ho

Anoymous, SSB, Dave, Geezer and all you other knuckle dragging realtards can just skip this one, you wouldn't understand all the big words and there's no pictures.

Beatbox
Guest
Beatbox
5 years 8 months ago
I see comments comparing Vancouver to NY housing and comparing Vancouver to San Diego/San Francisco, Seattle, Hawaii… and so on and so on. Look, Uberbears, guys comparing us to those places, why don't you move there? If the deals are so much better to be had (and they are, especially with 30 year FIXED mortgages for less than 5% nowadays) then up and go. I guess my real question is: Why do you stay? If everything sucks here (weather, stoney beaches, high taxes, poor wages, etc.) then why do you stay and make yourselves miserable? If the answer is "family"… Read more »
Tony Danza
Member
Tony Danza
5 years 8 months ago

@Anoymous: Let me guess Anoymous, you've been living in Vancouver for what 5, maybe 6 years? It's usually the neophyte idiots like you that are first to spew the "why don't you move if you don't like being a debt slave for the rest of your life making half what you could elsewhere".

Don't bother "refudiating" my claim unless you back it up with some proof.

Tony Danza
Member
Tony Danza
5 years 8 months ago

@Beatbox: Why do you stay?

SuperSmartBull
Guest
SuperSmartBull
5 years 8 months ago

@Beatbox: You know why bears stay? 2 reason. One, they know that moving is risk, and bears want to avoid all risk, that is why they miss generational chance to make big $$$ on housing boom. Two, they know deep down inside angry bear heart that if they move they will be unhappy Debbie or Doug Downer in new place too. Move to NYC? Too much crime and dirty and summer heat. Move to Cali? State is bankrupt. Move to TO? Leafs.

Anonymous
Guest
Anonymous
5 years 8 months ago

@realpaul

Read the National Post article again, you shit-spewing imbecile. Your reading comprehension skills are stunningly low, much like your iq. If at least you were somewhat clever, or funny maybe…

Jimmy
Guest
Jimmy
5 years 8 months ago

I don't think one has to leave Vancouver. One just doesn't have to buy real estate in Vancouver right now. It's not a requirement to own a place in Vancouver; at today's prices, it's cheaper to rent than own.

Jimmy
Guest
Jimmy
5 years 8 months ago

Wonder if this will be the case in Vancouver (It' different here – TM)

Death of the 'McMansion': Era of Huge Homes Is Over

http://finance.yahoo.com/news/Death-of-the-McMans

Logic
Guest
Logic
5 years 8 months ago

jimmy –

i very much hope so

MrBear
Member
MrBear
5 years 8 months ago

@realpaul: #27 Anonymous is right – you did pull a rather spectacular reading comprehension face plant. The editorial you link is an indictment of perceived government immigration policy failure, not a guilt trip for the Canadian public. Care to give it another try?

And I know that this is a Friday free-for-all, but is this even a relevant topic for VCI?

Best place on meth
Guest
Best place on meth
5 years 8 months ago

@SuperSmartBull:

>>>that is why they miss generational chance to make big $$$ on housing boom.<<<

You hit the nail on the head there, maybe you're getting smarter after all.

Yes, it was a once-in-a-generation housing boom and it will be 20 years before real estate in this town goes up again.

Welcome to the bearish camp.

Anoymous
Guest
Anoymous
5 years 8 months ago

I just find it bizarre that people would wait years for real estate prices to come down so that they can buy a permanent home in a city which is, seemingly, so inferior to just about anywhere else in the world. I was hoping somebody could explain the apparent contradiction.

M-
Member
5 years 8 months ago

@shikko: My former neighbours when I lived in East Van had their old house demolished and a new one built. The new one was built and ready for occupancy (landscaping excluded) in 4 months.

Jimmy
Guest
Jimmy
5 years 8 months ago

"people would wait years for real estate prices to come down so that they can buy a permanent home in a city which is, seemingly, so inferior to just about anywhere else in the world"

At today's prices, Vancouver would seem to be relatively inferior to other places. If there's a 40% haircut, then okay, IMHO, Vancouver would seem like a better place to buy.

RichAsian TM
Guest
RichAsian TM
5 years 8 months ago

It's back to school time bears! You know what that means?

All the rich asians are going to buy condos for their kids that are going to university. Rich asian kids don't rent or live in dorms. They all own condos.

Get ready for sky rocketing sales, bears. The back to school condo sales rush is on!

Best place on meth
Guest
Best place on meth
5 years 8 months ago

@Anoymous:

No contradiction at all.

The point is that Vancouver is a fine place to live, however the cheerleaders justifications for our sky-high prices don't match up with the city's standing on a global scale.

In other words, it's a pleasant backwater with New York prices.

Any questions?

VanRant
Member
VanRant
5 years 8 months ago

@RichAsian TM: Is that you Kite? Real Estate business must be slow, I heard Mc D is hiring.

fixie guy
Guest
fixie guy
5 years 8 months ago

It seems the marketers are posting all the old double-speak at double-speed. "Why don't you move?" "Asian high school students are coming"? Maybe VCI needs an astroturf index to track industry panic.

Anoymous
Guest
Anoymous
5 years 8 months ago

@Jimmy:

"At today’s prices, Vancouver would seem to be relatively inferior to other places. If there’s a 40% haircut, then okay, IMHO, Vancouver would seem like a better place to buy."

The beaches will be more tolerable if it weren't so expensive to live near them? Something like that?

Beatbox
Guest
Beatbox
5 years 8 months ago
Interesting that such an open ended question of mine quickly got down voted by 7 people. It was directed at those who compare Vancouver to elsewhere and the vast complainers on our weather and other things. Instead of answering they downvote. That's just sad. I guess it really is just a culture of entitlement. @TonyDanza I stay because: a) I am already settled here. b) I own my own home and have for 23 years (purchased 1987) c) I don't mind the weather. d) I enjoy all the amenities near me (restaurants, beaches, trails, skiing: downhill and cross country, access… Read more »
Absinthe
Member
Absinthe
5 years 8 months ago

@Anoymous: The beaches aren't a selling feature. The city is lovely. It's just not, in any way, New York – and there are many other lovely places.

For me, it's not that Vancouver sucks. The boosterism sucks. We're transitioning, and we're doing it awkwardly. We're like the kid who grows a peach fuzz mustache and then tries to buy his own booze – not self-aware enough to see we're not fooling anyone.

Absinthe
Member
Absinthe
5 years 8 months ago
@Beatbox: Bears certainly have left. So have non-bears who wanted to buy and found Vancouver too steep. Other bears are fine with renting and have jobs or networks here: in my industry, you're as good as your network. Moving is restarting. You don't just flush and start again in another city without very good reason. Your remark about family is odd to me. I have older family here who bought before the boom, others with pensions tied to their remaining years in their local jobs – remarkably different than the situation the Tamils were fleeing, yeah? A paper real estate… Read more »
Royce McCutcheon
Guest
Royce McCutcheon
5 years 8 months ago
@Beatbox: My wife and I – both in health research – have decided to have a crack at setting up here because we felt it was somewhat worth taking a professional hit in order to 1) have closeness to people we care about and 2) to stay in Canada and, especially, in an area where we grew up. We're here because we are Lower Mainlanders. I don't mean that in the sense that we're straight out of a leaky-shoebox-lovin' condo ad, stacking fresh-cut flowers in the front basket of our mint Vespa scooter. I mean it in the sense that… Read more »
Royce McCutcheon
Guest
Royce McCutcheon
5 years 8 months ago

Apologies for the novel. Was recently talking about this with someone else and seeing the topic again stirred up the blood.

Tony Danza
Member
Tony Danza
5 years 8 months ago

@Beatbox: I think you have an irony detection deficiency.

And for the record I voted you down because your original post had a high douchebag quotient to it. Your follow up post is no better, you sound like an entitled prick.

Tony Danza
Member
Tony Danza
5 years 8 months ago

@Royce McCutcheon: Nicely done Mr McCutcheon.

SuperSmartBull
Guest
SuperSmartBull
5 years 8 months ago
@Best place on meth: Yes, it was a once-in-a-generation housing boom and it will be 20 years before real estate in this town goes up again. That is not only interpretation of comment, bear. In boom we had 10+% appreciation. Even Bull can see this is not sustainable. Show one bull who is predict that. However, bitter bear fantasy is hoping for 70% crash to take pain away and give another chance to make big $$$. That is fantasy, like life is better in NYC. Expect flat, slight correction then new green shoot growth. Prices will still be too high… Read more »
Teddybear
Member
Teddybear
5 years 8 months ago

@Beatbox:

The same questions just like on RET. Booooriiiiing! "Why do you stay"… right… Well, not everyone is born a nomad, or not everyone can get a working visa in the States… If our provincial government took good care of Canadian citizens, nobody would have to leave the province in order to live a decent life, have a normal paying job, and have a house. Houses priced 15x annual household income are extortion!

Teddybear
Member
Teddybear
5 years 8 months ago
This is copy/paste from Marco911's post on RET, as an answer to the question "why stay". It is lengthy, yet quite comprehensive IMO: "I've already gone through the process to denounce my Canadian citizen ship and move south of the boarder. My brother is moving into the home in Langley. I haven't decided if I'm going to put it up for sale. He actually purchased and is building a home in High Point (nearby). Once it's built I will probably end up selling the place but we'll see. With my family being up here I will visit a few times… Read more »
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