Just move farther away

The Vancouver Sun has an article about compromising to get that ‘affordable’ home in Vancouver.

..And by Vancouver, They mean Squamish. That’s one of the places they suggest you could compromise to buy in since by there estimation it’s only a “45-50 minutes to downtown Vancouver”. Google maps estimates 1 hour 9 minutes. Just pray you don’t run into any traffic.


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Commuting for several hours a day sounds like fun!

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CanuckDownUnder
Member
CanuckDownUnder

Coincidentally the Sydney Morning Herald just ran an article a couple of weeks ago with a similar suggestion, although they used the euphemism "making a tree change."

How to halve the cost of a home:

1) split the title with another buyer (seriously!)

2) rent out rooms (maths will never work, not to halve the cost)

3) make a tree change (move to where you commute 4+ hours/day)

For some reason they omitted the obvious way to halve the cost of a home without making any of these compromises. Rent.

http://smh.domain.com.au/real-estate-news/how-to-

registered
Member
registered

No surprise the author makes no mention of factoring in even simple increased travel costs, before joining the business lobby group masquerading as a government agency Wiebe worked 18 years for the CMHC. Hell has a special place for these types.

Keeping An Eye On Th
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Keeping An Eye On Th

The article was published July 28,

The province usually has a pimp advertisement on Thursdays.

I could swear they are edited by Bill Slut.

They usually follow a template, shortage of land, everybody wants to move here, somewhere in the second paragraph, there is usually the obligatory mention of the rich Asians.

This time they actually took a short cut to :

" buy now, buy whatever you can afford, or be forever priced out"

pipewrench
Member
pipewrench
Anonymous
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vanpire
Guest
vanpire

This article is a straight-out insult to all first-time home buyers.

Don't they insist we try and reduce our carbon footprint buy riding our bicycles more? How long from Squamish to Vancouver downtown on a Shwinn???

Or how about one of them trendy "fixed gear" bikes local hipsters love so much??? Aah, that would be so good for your fitness level!

In other news, my local newspaper (Burnaby Now) just run a half-page ad for some Receivership Sale in Squamish, where prices were slashed "Up To 34% Off!". Coincidence?

gordholio
Member
This piece of crap article is all about grasping desperately at the last few remaining straws. Squamish? Mission? Really? What's next – Chilliwack? It's just a half hour farther than Mission and prices have tumbled even further there. What the article fails to mention is this: Bubbles always deflate from the outside in and anyone buying now is doing so in an environment where they're GUARANTEED to lose oodles of cashola. Typical Brian Morton bullshit. Funny, I don't see the "rent" option mentioned anywhere. Speaking of renting, my girlfriend and I have now completed our move (the reason I haven't posted lately). $1650/month for a very likable house in south Surrey (right on the border actually), just a ten-minute bike ride from the beaches of White Rock and a five-minute drive to cheap gas/groceries in Blaine. Hmmm…$500,000 for some blah,… Read more »
The Leak
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The Leak

Hey, did I tell you cats that I'm loving being a renter right now. Just hope I can keep my job in the next few years. You see the markets again today? Yikes! Hope you're watching your "Down Payment" investments.

Survey Says
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Survey Says

From Mish's blog:

The implosion in Australian housing is now in full swing as Eighty-five building and construction firms go under in a month.

http://globaleconomicanalysis.blogspot.com/

space889
Guest
space889

@vanpire: Didn't we have an article from someone who claims he loves to live in the best place on Earth Squamish where he can go mountain biking, kyaking, and skiing all in one day on weekends or doing mountain biking and skiing after work?

Actually I wonder if biking from Squamish to Vancouver will be faster during rush hours.

space889
Guest
space889

@The Leak: I don't think homeowners have any stock market investments. Weren't we being told again and again that stocks and bonds are too risky? Which today just proves? That housing is the way to go?

Troll
Guest
Troll

5 year bond yields testing all time lows. Lower mortgage rates coming again. Although they're accompanied by scorched earth markets, down 3.5% already today, which may dampen home buying enthusiasm.

Best place on meth
Member
Best place on meth

Great idea,

Move way out of town away from your job, add to the already horrendous traffic going in and out of Vancouver, spend 3 hours a day commuting and an additional $250 a month on gas and see your family much, much less just so you can keep realtors employed and property values up for existing owners.

I like it, it's inspiring.

So inspiring I'm thinking of moving to Bowen Island and rafting my way into Vancouver each morning.

Or maybe get a nice acreage in Hope and buying a jetpack, I'll just need to watch out for float planes around the harbour on my approach.

The $100K spent on the jetpack will easily by paid for by the $400K saved on a house 2.5 hours from the city.

http://martinjetpack.com/video-gallery.aspx

Look at that baby go! Woooo!!

Girlbear
Guest
Girlbear

LOL. 45 minutes to commute from Squamish to the office….maybe if you work in Horseshoe Bay !

Ridic.

patriotz
Member

@space889:

I don’t think homeowners have any stock market investments.

Maybe you just don't think. The great majority of stock market assets are held by homeowners. It has a lot to do with people being more likely to own both a house and stocks the richer they are. But it has nothing to do with whether buying a house now in Vancouver (or somewhere else) is a good idea.

People like me, who have large stock holdings but aren't homeowners, are the exception.

Yawn
Guest
Yawn
@space889: I don’t think homeowners have any stock market investments. Maybe you just don’t think. The great majority of stock market assets are held by homeowners. It has a lot to do with people being more likely to own both a house and stocks the richer they are. But it has nothing to do with whether buying a house now in Vancouver (or somewhere else) is a good idea. People like me, who have large stock holdings but aren’t homeowners, are the exception. _______ Actually, when you look at the break down between institutional and retail investors in the market, you will note that the "average joe" retail investor has significantly shrunk as a percentage of overall investors in the market within the last 10 years. As the homeownership rates have ballooned in the last 10 years, there is a… Read more »
Girlbear
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Girlbear

@Yawn: Where do you think the institutional money originally comes from?

Sputnik
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Sputnik

Keep in mind that approximately 5% of the Canadian population invests in the stock market. Compare this with a 70% ownership rate with real estate, where 70% of Canadian households “own” houses.

________

Excellent point! That does show you that most Canadians don't touch stocks. Throw in the increasing stratification of Canada and the decimation of the middle class, especially after 08, and you can see that the richer are getting richer investing with the joe sixpack gets poorer and poorer, even if he has a house.

Best place on meth
Member
Best place on meth

@Yawn:

I thought everybody invested in stocks.

http://www.youtube.com/watch?v=W4hfdaC7eL4

Not much of a name...
Member
Not much of a name...

@Sputnik: Most Canadians do touch stocks. It's done through their RRSP's that are invested in mutual funds.

cgh
Guest
cgh

45 minutes to Vancouver from Squamish! I drive that road several days a week in summer, and there is NO WAY you are getting downtown in that time. West Van, sure, if you speed a bit and traffic is light.

It's more like an hour fifteen, but only if bridge traffic is nonexistent. I know lots of people who do it every day (there is a big carpool scene in Squamish, as hundreds of people commute from there), and they are ambivalent. Many probably believed some variation of the "it's only 45 minutes" meme, when really the round trip is more like 2.5-3 hours.

Anonymous
Guest
Anonymous

For a housing bear, a sell if in stock markets is a good thing… depending on how much of your savings is in the markets of course. There has to be some shock to economic confidence to help get the ball rolling, otherwise everyone will just believe the sunshine being blown at them by real eatate pimps. Takes a multi year slow melt and compresses it as 2008 did. Only this time emergency rates are already in place.

Catwalk
Guest
Catwalk

Not much of a name… Says:

@Sputnik: Most Canadians do touch stocks. It’s done through their RRSP’s that are invested in mutual funds.

______

50% of Canadians have no retirement savings or RRSPs, and those that do have relatively small amounts. Face it, Canadians are broke – they are no longer savers or investors.

Devore
Member
Devore

@cgh: They're ambivalent because they have resigned themselves to it. It's a fact of their life, which they can do nothing about. People are adaptable, they get used to all kinds of stuff. There is nothing on the horizon that would improve the situation, so it becomes part of the fabric of life; you get up at 5, and get home at 7. That's just how it is.

900kCrackHouse
Guest
900kCrackHouse

Markets are geting obliterated today! 🙁 This should be bearish for housing but also is bearish for my stock portfolio. Good thing gold has been doing so well.

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