It feels so normal here

Another warm sunny day in Ottawa. Here’s what I get for having given up on the “best place on earth”:

– more cultural activities
– people who are polite and say hi to you on the street
– neighbourhoods that feel like neighbourhoods
– ethnic diversity but not segregation
– no homeless people outside of downtown
– breakins are regarded as newsworthy
– much better job opportunities

I can break the RE market into three sectors:

– Gatineau, Quebec
Prices that are actually reasonable. $200K gets you this in the English-speaking community of Aylmer:

http://passerelle.centris.ca

– Generic Ottawa
Overpriced but if you really want to buy, you won’t become a debt slave. $300K gets you this in Silicon Valley North:

http://www.realtor.ca

– Trendy Ottawa
Definite bubble territory, but still more for your money than Vancouver. This $1.2 mil house in the Glebe likely would not rent for more than $3500/month:

http://www.realtor.ca

Compare with this rental:

http://ottawa.en.craigslist.ca

Or you can rent, there’s lot of quality stock, the landlords aren’t psychos and people don’t treat you like a leper.

Enjoy the rain.

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Anonymous
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Anonymous

@fixie guy Says:

"@155 patrick: You must live in a different Vancouver. My experience with Transink was ‘watch your ass walking through that new green’ because often as not a bus ran a stale yellow. Thank you bus driver anecdotes read like Rain Main fantasies in the Land of Oz to normal people, as dimwitted as Ottawa is -40 C (but I didn’t really mean it that way.)"

You very obviously don't live in vancouver and possibly never have. Surrey or further out maybe? The thanking bus drivers things is a daily feature of bus travel in Vancouver not an anecdote. It's a small thing but reflects well on the city and makes bus journeys just that little bit less tedious.

trackback

[…] “I was out in Ottawa a few weeks ago visiting with family. It was interesting speaking with family friends who were absolutely aghast at the neighbour who had just listed their house. Can you believe it was listed at $375k??? I just laughed and said it was just a matter of perspective. People out here in Vancouver are so delusional that they can see a house for sale at double [what one would pay elsewhere] and feel that it’s a bargain. All sense of reality is gone as it appears that many have lost sight of what the value of house actually is. It’s really sad.” – Not much of a name… at vancouvercondo.info 8 Nov 2011 […]

Patiently Waiting
Member
Patiently Waiting
@x: I'm just "patiently waiting" for sanity to return to this market. I know it will be a long time. The way down will roughly mirror the way up, so we are looking at many many years (decade?) before this process ends. A few years ago, I might have been "patiently waiting" to buy again, but not anymore. I have a nice rental that I can live in for pretty much as long as I want (landlord bought pre-bubble and holds properties forever). So even if prices fall 50%, I doubt I'd buy given the quality of housing stock. As for why the subject matter still interests me, I've always been interested in stuff like economics and urban geography. I studied some of that in University and found it quite interesting. I'm also involved in charity work around Seniors housing.… Read more »
Anonymous
Guest
Anonymous

"Personally, I’ve owned in the past, "

huh, I thought you have been waiting for a correction since VHB time in 2006? and got kicked out of your rental, and got layed off?

WFT?
Guest
WFT?

@patriotz:

Ottawa is the best place to live in Canada according to money sense magazine.

x
Guest
x

@fixie guy:

"You must live in a different Vancouver."

Where do you live? I sense a bunch of people around here do not even live in Greater Vancouver.

x
Guest
x

@Patiently Waiting:

"Personally, I’ve owned in the past, and I’m not anxious to own again. Don’t assume everyone is here because they want to buy real estate."

I don't recall "everyone" being stated. So if you hate it here why did you buy before and why are you still here now "patiently waiting".

What are "Patiently Waiting" for? To move once prices correct?

I am a bear. I live in Vancouver because I like it. If I didn't I would move instead of complaining about it on a blog. Why would I live in the most expensive place in Canada if I didn't like it? Makes no sense.

registered
Member
registered

@155 patrick: You must live in a different Vancouver. My experience with Transink was 'watch your ass walking through that new green' because often as not a bus ran a stale yellow. Thank you bus driver anecdotes read like Rain Main fantasies in the Land of Oz to normal people, as dimwitted as Ottawa is -40 C (but I didn't really mean it that way.)

jesse
Member

@Patiently Waiting: "Don’t assume everyone is here because they want to buy real estate."

It confounds the mind some people might think speculative bubbles are a net negative for the province's economy, as we're starting to find out. One might even call such people "patriots".

Patiently Waiting
Member
Patiently Waiting

@x: Personally, I've owned in the past, and I'm not anxious to own again. Don't assume everyone is here because they want to buy real estate.

x
Guest
x

"The irony of all these people who appear to hate Vancouver yet are desperate enough to buy a home here that they spend time on a blog aimed at house buyers in Vancouver."

I can't figure that out either. Hope and pray housing prices come down so you can buy a (still) very expensive house in a place you do not like.

jesse
Member
November 2011 data Average Sales 121 Total Sales 850 Average Listings 194 Total Listings 1361 Average sell/list 62% Days in month 21 Days elapsed 7 % days elapsed 33% Expected sales 2,550 Expected listings 4,083 Max daily sales 167 Min daily sales 87 Max daily listings 229 Min daily listings 177 November 2010 data at same point in month Average Sales 122 Total Sales 852 Average Listings 170 Total Listings 1192 Average sell/list 71% Days in month 21 Days elapsed 7 % days elapsed 33% Expected sales 2,556 Expected listings 3,576 Max daily sales 146 Min daily sales 96 Max daily listings 191 Min daily listings 144 November 2010 month end data Average Sales 122 Total Sales 2566 Average Listings 144 Total Listings 3026 Average sell/list 85% Days in month 21 Days elapsed 21 % days elapsed 100% Expected sales… Read more »
Makaya
Member
Makaya

Off topic but funny: how to screw your chance of being the GOP nominee in one lesson.

The fun part starts at 1:40…LMFAO
http://www.youtube.com/watch?feature=player_embed

Donald Trump
Guest
Donald Trump

Ah yes…..as I comb my flaxen hair,…..practice my patented squint , emerge from my Occupy Vancouver tent , anyone know where I can have a shit, shave and shower ?

patrick
Guest
patrick
fixie guy Says: "63 patrick Says: “…it is clear this forum/blog has moved from a housing watch blog to a hang-out for right-wing racists.” Nice try. Best of luck with your next house showing. The ‘thanked the bus driver’ line was the tell." You couldn't be more wrong. Just someone who genuinely likes Vancouver which is why I would like to buy here which is why I read housing blogs. You? And are you saying people in Vancouver don't thank bus drivers?? It's unique in Canada in my experience. Does it make the city friendly. Well yes actually it does given how many people take the bus every day. The irony of all these people who appear to hate Vancouver yet are desperate enough to buy a home here that they spend time on a blog aimed at house buyers… Read more »
jesse
Member

@Makaya: Market is not seeming to move quickly right now in some segments, friends have their Van East placeholder on the market "sharply priced" at $30k less than nearest comp and only 2 showings in 3 weeks. I blame the Realtor. And Greece.

RaggedyRenter
Guest
RaggedyRenter

Pick your poison for the next 1-2 years:
The economy gets better, interest rate resets to normal, 10% (650,000) who can’t afford 1% increase would eventually default.
The economy gets worse, interest rate goes to emergency rate again, unemployment rises and paycheque-to-paycheque Canadians would default.

Oilman
Guest
Oilman

A collapsing European economic union, that necessitates a massive rate cut bodes well for housing? These rates are an indication that things are royally screwed in the world. This is a calamitous enough event to give people serious pause when it comes to making the single biggest financial decision in their lives. I hope.

Troll
Guest
Troll

@E: Rates have nowhere to go but up..remember?

Manson
Guest
Manson

@E… Means anyone with a variable mortgage pays less to live..and renters pay the same or more.

taylor192
Member

@fixie

You have a reading comprehension problem, how about you fix that before replying.

I didn’t imply Ottawa winters are a constant -40C, I said there’s usually a week of -40C once a year. Just like I won’t say it rains all the time in Vancouver, cause it doesn’t, and when it does its not “rain” as in the downpours I was used to in Ottawa, it just drizzles in Vancouver. In fact very rarely does Vancouver actually gets a significant downpour for how much rain we do get.

Is that concise enough for you? or would you like to keep nit-picking things you don’t even understand? Let me know so I can label you appropriately.

taylor192
Member

@patriotz

Good you can find 22 municipal jobs, can you also find the news articles stating the mayor wants 4000 cut?

I love how everyone is so literal lately. Hiring freeze doesn’t mean no hiring, it means no new positions. FFS. If a position comes free cause someone vacates it, it can be filled. Yet in the federal government even this is being clamped down on.

E
Guest
E
Makaya
Member
Makaya

@paulb.: sell/list ratio at 48.6%. That can't be good news for the bulls…