Homebuilder says it’s a great time to buy

Before I make a major investment, I always like to do a bit of research and consult an expert.

Before I buy a new car I always ask a car salesman if it’s a good time to buy. They’re the experts after all.

And when it comes to real estate, who better to ask than a builder if it’s a good time to buy?

Looking at 2011 numbers related to the economic impact of residential construction in B.C., we can easily see that this industry is a massive contributor to British Columbia’s well-being and future success, as well as a huge indicator of the province’s economic climate. Just think: For every single home we build, 3.5 person years of employment are created and more than $60,000 is generated in spinoff spending.

Ah yes, it’s not just a good time to buy, it’s the right thing to do for the economy. Without Real Estate our economy would be in the crapper. What could possibly go wrong?

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b5baxter
8 years ago

@Bailing in BC: “…. Unfortunately it sounds like the people who you could have more meaningful communication have aboulutely no interest in engagement.”

Nothing could be further from the truth. I was only speaking of the closeness to my immediate neighbors (houses on either side) in that anecdote.

In my broader neighborhood I feel a great deal of meaningful engagement.

This past weekend at Main Street Car Free Days I was constantly running into people I knew. And it would have been even more so if I had been on the Drive. I feel a great sense of community in East Van. Maybe other neighbourhoods are not the same though.

TPFKAA
TPFKAA
8 years ago

@Anonymous:

Having slept on it… some… I have come to an optimistic view. I think we can figure it all out and come out united. The level of integration I see is too strong to be thrown over even in the most concentrated areas.

For the people fed up of xenophobic comments and their high number of up-votes: It’s not surprising maybe to find a disproportionate number of people on a bear website who perhaps hold newcomers responsible for their being priced out of homes in the area.

AG Sage
8 years ago

@patriotz: The Fins also have the Roma, but the Roma self-isolate and are treated with kid gloves (according to the majority opinions I’ve heard).

Anonymous
Anonymous
8 years ago

@TPFKAA: Word, Vancouver has some good stuff going for it, just don’t forget how slippery a slope it can be. Over 50% of Vancouver’s population wasn’t here 25 years ago; that will change in the next 25. With a few exceptions the lack of abject racism in Canada is a competitive advantage IMO

Anonymous
Anonymous
8 years ago

@N: “That is to say, I would say that people who oppose multiculturalism are most marked by a deficiency of character or upbringing. ”

Sounds like a press release from the Liberal Party of Canada.

patriotz
8 years ago

“But if mono-culture is your think, he only near mono culture in the modern world today is Japan, and perhaps Finland”

North Korea has them beaten by a mile :-). South Korea is more mono cultural too. Neither has any indigenous minorities.

Finland has large Swedish minority, although their cultural values are quite close to the majority. For example, Linus Torvalds, Mr. Linux, is an ethnic Swede from Finland. Also the Saami (Lapps) up north who are closer ethnically but have their own culture.

patriotz
8 years ago

@frank:
“You are right look what unfettered immigration did to the First Nations here, Aboriginals in Aussy and Maori in NZ.”

That was colonisation NOT immigration. Immigration is when a sovereign state decides who will move to it on its own terms. Don’t insult the aboriginal people with this kind of language.

TPFKAA
TPFKAA
8 years ago

@Really?:

And… you say that I should get out more… well I see kids a lot more than the average adult. (Not through any unhealthy interest, I hasten to add 😉 ) – and it is still holding true what Jesse and others have pointed out, that kids are basically all speaking the same language. I have heard some stories about some schools up in the westside though, where this may not be the case because they are no longer multicultural schools – essentially, they are monocultural and ESL based. Not sure how true that is, but it can’t be good for integration in the near term for this one generation.

TPFKAA
TPFKAA
8 years ago

@Really?: Canada never HAD to go to war ever before… so what do you mean “again”? Who are we going to fight? Who will be the threat?

(Not disparaging the Canadian war effort in both world wars… one of the most heroic efforts of all countries, especially given they basically volunteered to fight someone else’s war for them)

TPFKAA
TPFKAA
8 years ago

@Really?:

Well, it’s just pragmatic. You know what they say: If you can’t beat ’em… in this case, if they won’t stop coming… then make your own life more comfortable and open up new opportunities. You can’t put the immigration genie back in the bottle, so adapt to the new reality.

(But damn they are all such hard languages to learn!)

Really?
Really?
8 years ago

when faced with sudden and unexpected immersion in an alien culture and language, why not practice reverse-integration and learn some phrases in Cantonese, Mandarin, Punjabi, Ukrainian or Tagalog? It seems lazy to sit around preaching that others should learn the common language when that language was obtained from birth without effort…….. ___________ Right…lets place more of the onus on native Canadians to learn the language of recent arrivals to further negate their need to learn the host language. I forgot – the new political correctness is that native born Canadians need to adapt to the language of recent immigrants to make them feel more comfortable. Let’s just forget that pretty much every government service, banking services, and even some retail outlets already cater to other, “non-offical” languages. From hospital pamphlets on diabetes being written in 12 different languages, to online… Read more »

TPFKAA
TPFKAA
8 years ago

@Really?: Nah dude, you are exaggerating. It’s not that segregated yet. Most people are pulling for a common purpose. Whenj you have a psychological element to the segregation (i.e. fear to walk in the wrong area at night) then you have a problem. And richmond and surrey both have shitloads of white, asian, and brown people living all around, nevermind what the storefronts and malls may cater to.

TPFKAA
TPFKAA
8 years ago

@TPFKAA: There is something about Vancouver that I wish it never loses. Let me explain: If you walk down the street in England late at night, and you are white and see a gang of South Asians or blacks walking down the street towards you – you either shit your pants or you don’t know enough to be afraid. The same scenario applies if you are brown and see white kids. If you are Rodney King in the US and you drive down the street and get stopped by a gang of white cops, you shit your pants. Or really ought to. My Vietnamese second gen friend tells me his childhood in Prince George was spent fighting gangs of white kids. My Irish origins scottish friend spent his childhood fighting scottish kids. I spent the latter half of my childhood… Read more »

VMD
VMD
8 years ago

@HAM Solo: agreed, I’ve been following Garth since his squirrel-recipe days. He even had a spin-off site that sells emergency food rations and a variety of generators. But since he started getting into the financial advisory business a year or two ago, I find that he’s become unusually bullish on the stock market. His typical financial-advice posts this spring: (This one is Feb 9) “Stock markets have gained about 8% in the past six weeks, with shorts about to get slaughtered as the S&P 500 passes a milepost. Once again, buying when everyone is selling – as this holy blog suggested – is the path to salvation. Anyway, bond prices are still high even as stocks advance. This is an anomaly and won’t last long. A torrent of money seems likely to gush out of bonds and into equities, bringing… Read more »

Really?
Really?
8 years ago

The biggest concern I and a lot of the smarter commenters seem to have is that the pace and concentration of allowed immigration may create enclaves and ghettoes where the prevailing or mainstream peer influence is of a “foreign” culture. ________________ MAY create ethnic enclaves? You really need to get out more TPKFAA and realize that the enclaves are already here, and that integration has failed to materialize. You have almost entire cities that have been self-segregated, where there is neither any adoption of the official languages, values, or customs. Spend some time in Richmond and Surrey, and you will note that there is no integration. You can live your entire life as if you never left your own country. There is no real multiculturalism in Metro Vancouver, and pretending that there is being blind to the reality. And counting… Read more »

TPFKAA
TPFKAA
8 years ago

@f: f, I assume you are a new reader. Welcome to the forum. HAM is an acronym for Hot Asian Money – extremely wealthy buyers from Asia who were reportedly buying up homes at ever increasing prices with no limit to what they would pay.

I think an MOI of 7.87 is rather high for this time of year but I am not the expert on this. It looks good for bears.

gingee
gingee
8 years ago

@f: HAM is the acronym for ‘Hot Asian Money’, that’s for the people that believe wealthy chinese/japanese/koreans/russians etc drive our housing market. Although why wealthy foreigners would want the average family home in rainy vancouver I have no idea. If I was wealthy I’d prefer luxury property.

I believe a MOI of 6 is considered a ‘balanced’ market, over is a ‘buyers’ market and under a ‘sellers’ market, but you know these things are never clean and precise.

TPFKAA
TPFKAA
8 years ago

@TPFKAA: On a related subject: Some food for discussion… when faced with sudden and unexpected immersion in an alien culture and language, why not practice reverse-integration and learn some phrases in Cantonese, Mandarin, Punjabi, Ukrainian or Tagalog? It seems lazy to sit around preaching that others should learn the common language when that language was obtained from birth without effort. I for one feel a bit ashamed at not having made this effort. I learned the language of every country I lived in (including English) through necessity as well as desire. Here is a golden opportunity to learn so many more, with thousands of native speakers to practice with and I have not bothered to learn one. I should try it. It could make all the difference to the sense of alienation one feels when surrounded by numbers of the… Read more »

TPFKAA
TPFKAA
8 years ago

@jesse: This has always been the case in the past, yes. By the second generation, everyone is Canadian (Some have died defending their right to make this transition – like Zainab, Sahar, and Geeti). This transition occurs because kids are influenced the most by their peers rather than their parents. I am an outsider with a vested interest in continued harmony and integration (or to put it bluntly, an interest in seeing no racism of any kind). I have made this region my home and I don’t want it to go down the same fucked up path that I have seen some European countries go down. I want my mixed-race kids to grow up in the Vancouver I have grown to know and love…. where people for the most part are truly happy living amongst all sorts of people from… Read more »

chip
chip
8 years ago

@N:

@N: “I have seen my fair share of mono-cultures and multiculturalism, and I prefer the latter.”

You’re the first to mention mono-culture, so I assume you have opted for a straw man rather than to continue defending the govt’s policy of multi-culturalism, which is the silly idea that all cultures are equal.

I like a diverse cultural environment myself, but I prefer it when they mix, some rise and some fall, and the govt stays out of everyone’s way.

(But if mono-culture is your think, he only near mono culture in the modern world today is Japan, and perhaps Finland. They don’t seem to do too badly).

DFAIT
DFAIT
8 years ago

A little too much tit for tat with all these supposed worldly experiences…

Odd how the pro-multiculturalism chap and the more restrictive immigration chap both have traveled and lived on every continent to support their positions….

You are entitled to your respective views without having to try to justify and support them with your “worldly” experiences…

PS – Anyone who has traveled and lived overseas will tend to agree with the view that homogenous cultures are more integrated and socially cohesive.

HAM Solo
HAM Solo
8 years ago

Just in case anyone is confused, Garth is conflicted. He is a publicity hound, yes. He feels real estate in Canada will correct, yes. However, he is also a financial advisor who makes his living putting people into bank preferred shares. From time to time he gets a hunch that the market will go up (for a few weeks) and so, for the chance of closing some financial adviosry client…he turns all short-term bullish. The world is better off with Garth than without him, but the guy’s job sort of interferes with his mission as a truth teller of the internet.

Anonymous
Anonymous
8 years ago

@f:

1) What’s HAM?

It is a cut of meat. Usually pork.

2) MOI at 7.87 now. Is that considered high/low to average?

Yes.

Anonymous
Anonymous
8 years ago

@N: “I have seen my fair share of mono-cultures and multiculturalism, and I prefer the latter.”

Me too. Where do all these lunatics come from?

f
f
8 years ago

ok. some questions:

1) What’s HAM?
2) MOI at 7.87 now. Is that considered high/low to average?