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

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

Anonymous
Guest
Anonymous

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

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

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

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

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

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
specialfx3000
Member
specialfx3000

@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

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
SuperSmartBull
Guest
SuperSmartBull

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

@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

@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

@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

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

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

@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

@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"

@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.

@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

@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

@SuperSmartBull:

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

SuperSmartBull
Guest
SuperSmartBull

@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

@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.

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