Open political thread

Alright, let’s talk politics. Who do you think will best guide the economy through any future troubles and which party will best handle the housing market from your point of view? Is that the same party you normally vote for?

This is the thread to tell us who your voting for and why, or who your voting against.

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Anonymous
Anonymous
9 years ago

i wish the politicians put out new policies offering free housing for every renters in the city.

Anonymous
Anonymous
9 years ago

@rp1: ….“So far the current run-up in house prices has been one of the longest since the end of World War 11.”…..

What? There was a World War Eleven? How the hell did I miss that? Oh yea, I forgot: I was too busy selling RE for HAM.

Jax
Jax
9 years ago

@fuuuuu: Didn't you read the website address? The ideal 'tenants' are green and very quiet. Anyone can afford a $2 million house if they have "BC BUD ON GSAN"

fuuuuu
fuuuuu
9 years ago

http://www.bcbudongsan.com/property_details-V8804

what a real estate ponzi scheme in this city!!

"The lower level features two 1 bdrm suites, potential for $2000 per month revenue"

HINT: if you are thinking about spending $1.9 MILLION on a house and are concerned about $2000/month revenue from basement suites, you need to think about buying a different house!!

do people here have poop for brains? who spends $1.9 million on a house so that they can have not just one but TWO sets of strangers living with them?

4SlicesofCheese
4SlicesofCheese
9 years ago

Seriously do all the local news outlets have Tsur Somerville and Cameron Muir on speed dial or somthing.

JR
JR
9 years ago

@Anonymous: Really? Well if that's the case, why, when sale/list ratios would normally be 100%+, are they less than 50%? Apparently, we're running out of Kool Aid.

rp1
rp1
9 years ago

#176 @4SlicesofCheese: "So far the current run-up in house prices has been one of the longest since the end of World War 11."

As Hot Alien Money floods the market, pushing young cyborgs out to the burbs.

Anonymous
Anonymous
9 years ago

Re/Max: First-time homebuyers driving market in Metro Vancouver

VANCOUVER – First-time homebuyers looking to avoid higher interest rates down the road are helping drive up the real-estate market in a number of Canadian regions, especially in Metro Vancouver, says a report issued Tuesday.

Read more: http://www.vancouversun.com/business/First+time+h

In other news … The Tobacco industry unveils a report that smoking is good for your health!

http://www.vancouversun.com/business/First+time+h

jesse
9 years ago

@Aleks: "An apartment goes for the same price whether one person lives there or three"

A landlord can reasonably ask for a rent hike for increased wear and tear. The burden of proof is on the landlord to show how the accommodations are unfit to house multiple people AND that this person's partner was indeed living on the premises long enough to have been deemed an occupant. This is very difficult to prove, especially if the partner is paying rent at another location. If the tenancy agreement explicitly calls for only one named person living in the unit and the landlord can prove this clause was violated, I think there are grounds for eviction.

http://tenants.bc.ca/main/?guests

Not a pleasant situation.

Anonymous
Anonymous
9 years ago

Vancouver East & West*

New Listings – 116

Back On Market Listings – 2

Price Changes -41

Sold Listings – 46

Vancouver All Areas*

New Listings – 307

Back On Market Listings – 7

Price Changes – 117

Sold Listings – 145

Dave
9 years ago

@crabman:

Depends on your definition of accuracy. My predicted range is about 20% wide. I think those levels can be reasonable predicted. That's about +/- 10%. More than that and things get more random.

crabman
9 years ago

@Dave: Do you really think that you (or anyone) can accurately predict real estate price movement? Especially over a short time period?

IMO, the only thing someone can attempt to do is approximate the degree of under or overvaluation. That, along with the knowledge that prices almost always return to historic valuations, tells you whether the odds of a good return are in your favor or not.

Right now it's hard for me to find any investment where the odds are worse than Vancouver RE!

Dave
9 years ago

@Troll:

To be fair, I was actually wrong this past month. I have been predicted prices to remain below the August 2010 HPI. It just blew past it. I have actually been too bearish in my predictions.

Dave
9 years ago

@Troll:

One would think.

Dave
9 years ago

@Drachen:

This NEVER gets old:

Drachen, "IF the market regains and holds over half it's losses (I'd insist on real dollars but because these events will transpire in the next couple of years it's not likely to be a big factor) before dipping below 20% then I will admit [Dave is] right." October 2, 2008 3:58 PM

Prices up 2% just this past month.

We are now 10% of the way into a mortgage for somebody who bought on that day you posted. Double digits already! Something to think about.

patriotz
9 years ago

@Troll:

Well, I think there’s a not so subtle distinction between upholding basic human rights and arguing everyone should be entitled the same income.

Who's arguing that everyone should be entitled to the same income?

And also, we only regard being free from slavery, etc. today as a basic human right because people decided to change things back when it wasn't so regarded. Most notably, it was not regarded as a basic human right in the US at its beginning.

patriotz
9 years ago

@Troll:

I have yet to see a correct prediction from you, so I guess you and Dave are even.

Well then I'll make a prediction, effective immediately:

Real rents are going nowhere.

And as long as that prediction holds, we don't need to be right about prices next month, next year, or ever.

Dave
9 years ago

@patriotz:

Give it time. The social activists will eventually demand genetic equality.

Troll
Troll
9 years ago

@patriotz:

By your reasoning nobody should have tried to get rid of slavery, child labour, etc. because they were “reality” and it was folly to try and make life “fair”.

Well, I think there's a not so subtle distinction between upholding basic human rights and arguing everyone should be entitled the same income.

Aleks
Aleks
9 years ago

Advice Please,

I don't think you need to modify the lease or pay more. Unless the original lease specifies only one occupant, the landlord has no basis to demand more money. You are renting the apartment, not buying tickets for the Skytrain. What you do in the apartment and who you do it with is not the landlord's business, unless as was mentioned you have an "unreasonable" number of people staying with you. Your girlfriend moving in is neither unreasonable nor uncommon. The landlord is probably just looking for a way to charge you more money. But that's not the way rentals work. An apartment goes for the same price whether one person lives there or three. It's based on the size, quality and location, not the tenants.

Dave
9 years ago

@Drachen:

You couldn't reason your way out of a Chinese finger trap. There is no one who can match me. My logic is impetuous, my logic is impregnable, and I'm just ferocious.

Dave
9 years ago

@patriotz:

Two different things. Put the straw down.

Anonymous
Anonymous
9 years ago

@Troll: You got it. Apr 2010 for NV detached was $938,000. So if prices stagnate, then yes YOY NV will be down.

Troll
Troll
9 years ago

@Anonymous: So, unless prices increase they should decrease this month?

Anonymous
Anonymous
9 years ago

@Troll: Unless there are big moves in most of the areas, save for Richmond, VW and WV, many will be down at the end of this month. Take NV, it will have to climb about $15k just to keep pace with last year. Maybe this is the tipping point.

I did notice that the bond market has moved a lot in recent days.