They’re making more land.

..or at least one crazy guy off the coast of Cancun is:

Richart Sowa lives on an island THAT HE MADE. From plastic bottles.

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blueskies
Guest
blueskies
6 years 2 months ago

now all the binners in Vancouver can become
real estate moguls
it's all good!!

Anonymous
Guest
Anonymous
6 years 2 months ago

That's kid stuff, ever heard if battery park city in New York? 92 acres of prime waterfront real estate in manhattan built from the earth dug up to make the world trade center towers. If Vancouver real estate bulls weren't up to their eye balls in debt they could afford to visit a true world class city like manhattan and they'd know that it is possible to make more land.
http://en.wikipedia.org/wiki/Battery_Park_City

House
Guest
House
6 years 2 months ago

Tokyo reclaimed a huge tract in its harbour. Vancouver doesn't need new land because the region is full of undeveloped land. Only a matter of time before its zoning changes.

Patiently Waiting
Member
Patiently Waiting
6 years 2 months ago

LOL the BEST PLACE ON EARTH is not even in this study. I wonder where it would rank if it was.

http://www.vancouversun.com/business/Toronto+Mont

http://www.ubs.com/1/e/media_overview/media_emea/

Dave
Member
6 years 2 months ago

You can make more land, but it is far from being cheap. All the easy filling was done over a century ago. We are already built out, so it just isn't going to happen.

Burpy
Guest
Burpy
6 years 2 months ago

The made all the land that is now the coal harbour neighbourhood. Much to the disgust of all the people in buildings who thought that they had a waterfront view forever.

Burpy
Guest
Burpy
6 years 2 months ago

Anyway, more land or not, Vancouver RE prices are going down. Even the MSM is preducting a further 8% drop.

Have you noticed that the "official" predictions from the banks that are reported in the MSM have increased their price drops forecasts? Just a couple of months ago, the prediction was for something like a 1.5% drop.

Where have I seen this before? Oh, yes: the USA in 2007.

fixie guy
Guest
fixie guy
6 years 2 months ago
specialfx3000
Member
specialfx3000
6 years 2 months ago

@Patiently Waiting:

I think it speaks volume that Vancouver did not make the UBS list.

More proof that our housing prices are way out of whack when we don't have the rental yield and household income to support the madness.

FlipFlop
Guest
FlipFlop
6 years 2 months ago

A little off topic, but can those who know recommend a decent discount brokerage for buying and selling NA securities?

I'm a TD customer, so I'm considering Waterhouse, but I'm guessing there are cheaper options out there.

Alum
Guest
Alum
6 years 2 months ago
SuperSmartBull
Guest
SuperSmartBull
6 years 2 months ago

http://www.vancouversun.com/business/fp/Home+sale

Look bears, even the hardcore bulls CREA are admitting a softer market through the fall and into next year. Those shameless pumpers.

SuperSmartBull
Guest
SuperSmartBull
6 years 2 months ago

@Dave: But we don't even have to resort to making more land, I am always amazed at how much undeveloped land there is in Van, especially for a city that has supposedly 'run out'. Head to SE Van around Boundary and Marine and along Marine though Burnaby and you can see vast tracts of empty land. In the past year I've seen one new Townhouse development MacGregor start to pop up and I hear there are plans for Van waterfront east of Kent where the Olympic busses were parked. Rest is still green field.

specialfx3000
Member
specialfx3000
6 years 2 months ago

@Alum:

Hmm, #1 explains getting a bargain because we're four to five years into the biggest housing bust in modern history. #2 shows that you can get a 30-year loan for around 4.3%. #3 mentions that you can deduct the mortgage interest. I'll stop describing the rest of the top 10 reasons.

Alum, you just explained that now is not the right time to buy a home in Vancouver.

jesse
Member
6 years 2 months ago

@SuperSmartBull: That Marine Drive area is nice except when the wind blows north, then it smells of cow manure from the Richmond farms. There's a reason it is the last area in Vancouver to be developed.

Tony Pepe
Guest
Tony Pepe
6 years 2 months ago

Question on the sales stats: Are sales posted by MLS upon subject removal or closing? Trying to get a better sense of timing. Obviously there is a much longer lag time between signing the contract and closing than between signing and subject removal. Thanks

John
Member
John
6 years 2 months ago

Flipflop says:

> A little off topic, but can those who know recommend a decent discount brokerage for buying and selling NA securities?

I'm a fan of Questrade – that is where my condo went when I sold in November. Every day a feel better about selling it.

Dave
Member
6 years 2 months ago

@SuperSmartBull:

The Marine Drive and Boundary property is in the process of being developed right now. It's tied up and plans are already in place to develop on it.

The Big Bend area on the Burnaby side is now almost fully built out. And that was in the span of about 8 years.

What's left?

There is hardly any undeveloped land left. It's all gentrification and densification from here on out.

SuperSmartBull
Guest
SuperSmartBull
6 years 2 months ago

@Dave:

The Big Bend area on the Burnaby side is now almost fully built out.

Disagree, take a drive around there. Marine Way and Glenlyon, Marine Drive and Patterson, the whole Southpoint area which is only partly developed. This whole area is pretty much rural. The only thing that's been built up lately is the Market Crossing mall and a couple other small commercial buildings. If people were worried about the manure smell, why are subdivisions popping up all around Langley and Abbotsford?

"A-sharp"
Guest
"A-sharp"
6 years 2 months ago

@FlipFlop:

I use scotia Itrade.

If you have over 100k in the accounts then the trades are reasonable.

Go look it up.

Questrade is cheaper per trade, but It has mixed reviews…some love it though, so don't let that stop you if it has what you are looking for.

Kaspar H.
Guest
Kaspar H.
6 years 2 months ago

@Alum:

10 Reasons To Buy a Home

"After all, at the peak of the bubble five years ago…"

Sure baby, come over in 5 years to remind us again.

Alum
Guest
Alum
6 years 2 months ago

@Kaspar H.:

If you ever want to make money, buy when everyone sells and sell when everyone buys.

Now, everyone is selling, you cannot deny that.

Therefore, it is a good time to buy

Dave
Member
6 years 2 months ago

@SuperSmartBull:

Go look at the ALR map and come back to me.

SuperSmartBull
Guest
SuperSmartBull
6 years 2 months ago

@Dave: Sure, it're right here:

http://www.alc.gov.bc.ca/mapping/alr_maps/Metro_V

None of those areas I mentioned are in the ALR. There is still lots of room to build here, and this is only one area of several around Metro Van.

Devore
Member
Devore
6 years 2 months ago

@Alum:

If you ever want to make money, buy when everyone sells and sell when everyone buys.

Now, everyone is selling, you cannot deny that.

Therefore, it is a good time to buy

Last I checked this was the Vancouver Condo blog.

So maybe come back to us in 5 years to talk about a good time to buy.

Woodrow
Guest
Woodrow
6 years 2 months ago

This "nut" of the island sounds a lot more intelligent than the bulls on this board, thats for sure!

space889
Guest
6 years 2 months ago

@FlipFlop: I use Scotia iTrade myself as it has a much lower commission than TD Waterhouse ($9.99 vs $19.99 for me). However I think there are even cheaper ones like QuestTrade or QTrade that charges $6.99. However read all the fine print as some brokerages will charge account inactivity fees or have minimum number of trades per quarter.

logic
Guest
logic
6 years 2 months ago

one doesn;t even have to go out to Burnaby or SE Van to see developable land. Just look east of the DTES at all that light industrial zoned land – all of which can be rezoned and turned into neighbourhoods close to the DT. And then there are the port lands – valuable for commerce now, but with the new super ports going in the north and south of the province, they do will eventually be freed up for devlopment.

/dev/null
Member
/dev/null
6 years 2 months ago

@Burpy: The made all the land that is now the coal harbour neighbourhood. Much to the disgust of all the people in buildings who thought that they had a waterfront view forever.

Imagine what everyone in Yaletown is going to think when they fill in False Creek…

Not much of a name..
Guest
Not much of a name..
6 years 2 months ago

@Dave: "What’s left?

There is hardly any undeveloped land left. It’s all gentrification and densification from here on out."

But can't the same be said for the vast majority of city centres? Does Toronto have large tracts of land downtown to develop?

/dev/null
Member
/dev/null
6 years 2 months ago

@“A-sharp” Accountant: I use scotia Itrade.

If you have over 100k in the accounts then the trades are reasonable.

TD Waterhouse does this too (not that I have 100k to get the deal). You can combine totals across all your accounts (so e.g. your spouse's RRSP counts too) if that helps.

Absinthe
Member
Absinthe
6 years 2 months ago

@Not much of a name…: Exactly so.

Anoymous
Guest
Anoymous
6 years 2 months ago

@Anonymous:

"If Vancouver real estate bulls weren’t up to their eye balls in debt they could afford to visit a true world class city like manhattan and they’d know that it is possible to make more land."

It's incredibly childish to assume that people owning a home can't afford to travel. Why should we take any notice of the rest of your points when you're unable to express yourself without making dumb generalizations?

Not much of a name..
Guest
Not much of a name..
6 years 2 months ago
@Absinthe: I'm just trying to understand how "we don't have any land to develop" works. In my travels, I haven't seen many cities that are different from Vancouver in that their central cores and immediate surrounding areas are all developed. Like Dave said, it's all about gentrification and densification. But, why is Vancouver different when all other cities face the same "challenge"? This argument used can be applied to any city. If you want to build large numbers of SFH, developers move further away from the central core, just like Vancouver is doing. Coquitlam (Burke Mountain), Langley, Surrey, Maple Ridge,… Read more »
Anoymous
Guest
Anoymous
6 years 2 months ago

@Patiently Waiting:

"LOL the BEST PLACE ON EARTH is not even in this study. "

LOL, you should go live in Bucharest then. It's a dream-come-true paradise city, which doesn't at all look like a 1960s concrete nightmare.

5 Vancouver BC
Guest
5 Vancouver BC
6 years 2 months ago

*^*

//\

van

IIIII

re

IIIII(¯`v´¯)

`•.¸.•´

¸.•´¸.•´¨) ¸.•*¨)

(¸.•´ (¸.•´ (¸.•´¯`•–> Ready to rock ♥ ☼ ♥

DD recession fear disappeared and consumer confidence is on the rise.

IN RESULTS: Vancouver Real estate is set to rock within few hours.

North 5 Vancouver BC

**♥☆**♥☆**♥☆**♥☆**

RIGHT OF WAY

FlipFlop
Guest
FlipFlop
6 years 2 months ago
@Alum: If you ever want to make money, buy when everyone sells and sell when everyone buys. Now, everyone is selling, you cannot deny that. Therefore, it is a good time to buy I believe you're referring to one of Warren Buffet's famous quotes; ….attempt to be fearful when others are greedy and to be greedy only when others are fearful I think there's still a little too much greed in this market to consider it 'fearful'. He has a couple other doosies as well; When you combine ignorance and leverage, you get some pretty interesting results. You only have… Read more »
Dave
Member
6 years 2 months ago

@Not much of a name…:

It's unique. Vancouver has an ocean to the west, mountains to the north, a border to the south and ALR land to the east.

Cities like Calgary or Edmonton can keep growing at the periphery.

Vancouver is almost completely built out. We aren't there yet and there is still land in South Surrey, Abbotsford, Chilliwack, Mission and Maple Ridge. It might take a few more decades before we are truly built out, but it sure isn't far off.

fixie guy
Guest
fixie guy
6 years 2 months ago

Anoymous Says: "It’s incredibly childish to assume that people owning a home can’t afford to travel. Why should we take any notice of the rest of your points when you’re unable to express yourself without making dumb generalizations?"

As opposed to 'bitter', 'priced out', 'basement dweller'? There's no hypocrisy in calling you a hypocrite.

WiseInvestor70
Member
WiseInvestor70
6 years 2 months ago
Best place on meth
Guest
Best place on meth
6 years 2 months ago

Land making is easy, kids.

They do it in Dubai

http://environmentalgeography.files.wordpress.com

They do it in Japan

http://www.virginmedia.com/images/kansai-airport2

They do it in Miami

http://www.kafka-franz.com/images/Di-Lid4.jpg

They can do it here too, but they don't need to. There's plenty of land in Greater Vancouver so this is the dumbest argument of all from desperate cheerleaders trying to justify outrageous prices.

Girlbear
Guest
Girlbear
6 years 2 months ago

@Dave: Hey Dave, San Diego has an ocean to the west, border to the south, Orange County to the North, and the desert to the east.

And look what happened to RE prices there.

SuperSmartBull
Guest
SuperSmartBull
6 years 2 months ago
@Dave: I wouldn't say Vancouver is unique, but agree that it has more geographical challenges than say Calgary or Phoenix. That might explain some of the premium over 3x 'fundamentals', people are willing to pay more to avoid a 1.5 hour commute from Abbotsford. As the city continues to grow I wonder if that will be mitigated as more commercial activity and jobs move out to the valley, with Surrey as a second 'city center'. But to say that Vancouver is pretty much 'built out' except for parts of South Surrey, Abby, Mission and Chilliwack is a stretch to say… Read more »
SuperSmartBull
Guest
SuperSmartBull
6 years 2 months ago

@Girlbear: And yet, San Diego is still way more expensive than 3x 'fundamentals' bears say it should be. And prices have been rising again for more than a year.

Devore
Member
Devore
6 years 2 months ago

@Not much of a name…:

Some may have to get rezoned (ALR), but never say never.

If there's ever a real squeeze for land (not for decades), ALR tracts will get rezoned in a jiffy.

raggedyrenter
Guest
raggedyrenter
6 years 2 months ago

We're not built out yet. Ports can be moved to less populous and cheaper lands. Light industrial parts of the town can be rezoned. Old warehouses, unused buildings can always be repurposed.

Granted there is probably no huge tract of wilderness. However a lot of things in Lower Mainland can be repurposed to living space.

Take a drive around your neighbourhood. Those languishing small businesses squeezed by economy and Walmart? Small townhouses/duplexes. Those decrepit warehouses? Condo towers.

Struggling manufacturer competing with Chinese imports? small SFH complex.

HK, Singapore looks stiffled, Lower Mainland in comparison looks wide open.

SuperSmartBull
Guest
SuperSmartBull
6 years 2 months ago

@SuperSmartBull: LOL, voting down inconvenient facts again?

Dave
Member
6 years 2 months ago

@raggedyrenter:

Built out doesn't mean you still can't densify. It means unused land, which is where this discussion started. Somebody said there was lots of unused land in Vancouver. That isn't the case. Industrial land is expensive here for that reason.

Hmmmm...
Guest
Hmmmm...
6 years 2 months ago

@SuperSmartBull: supernolifebull – you must be an incredible loser and a sad site to see. You post here on a bear site all day every day rain or shine and argue with anyone that will show you any attention. Do you have a family, any friends, a hobby, a job, a life? do you live in your mom's basement? what a sad fellow you must be. I feel sorry for you.

SuperSmartBull
Guest
SuperSmartBull
6 years 2 months ago

@Hmmmm…: This is your first post, and this is best you can come up with? Now I feel sorry for you.

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