Buy in 1 cubic foot at a time: CUBE!

Vancouver has a problem with affordable housing.

No matter where you place the blame: speculators, easy credit, housing bubble, foreign buyers – the problem remains.

As a first time buyer how do you get into the market?

How about one cubic foot at a time?

It can be tough to afford a 580 sq ft one bedroom apartment for $415,000 but anyone can find an extra $199 to get that first cubic foot and get in now!

It’s Real Estate 3.0!

This was posted as a submission to the reTHINK housing competition from the City of Vancouver and already the rave reviews are pouring in:

Doug Farmer says:

4 stars – Very outside the box thinking about something inside the box. Has 21st century written all over it.

Our friend YVR Housing Analyst says

A thoughtful submission. I like how they can stack; I, for one, would first have tried spheres.

And Flo says

This is the least creative solution I have seen submitted. I feel hopeless about my future just looking at this.
I agree with arch. This is not the kind of architectural experience that sustains a human soul.

So don’t miss out on your opportunity.  Get your single square foot in the market today!

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[…] joe_blown_away_by_high_housing_costs at VCI 19 Jul 2012 5:10pm […]

rp1
Guest
rp1
Anonymous
Guest
Anonymous

@patriotz: “Don’t confuse “illiquid” with “vendors refuse to price to sell”

Same thing. Anything is liquid at the right price.

Dr. Nick Riviera
Guest
Dr. Nick Riviera

@joe_blown_away_by_high_housing_costs:

They could afford to buy anew house but they can’t afford new carpets? I guess End of the Roll won’t sell carpets for 5% down, 25 year amortizations.

Village Whisperer
Member
Village Whisperer

@frank: Ahh… never mind. Got my answer, thanks

Village Whisperer
Member
Village Whisperer

@frank: Did Fish say there were no SFH sales in West Van or the West Side of Vancouver?

Anonymous
Guest
Anonymous

There’s always WonderWine! http://www.wonderwine.com/About.page

Turner
Guest
Turner

@patriotz “Don’t confuse “illiquid” with “vendors refuse to price to sell”. It’s not any harder to sell than before.”

Ah, thank you. My day is not complete without your daily nugget of condescension.

Anonymous
Guest
Anonymous

@Best place on meth:

I am not sure recent Vancouver home owners can even afford wine anymore.

Vodka kool aid is better suited for them. You can even make fake cranteeny with red kool aid.

oneangryslav2
Guest
oneangryslav2

@VHB:

If we have <=85 average sales per day for the 8 days remaining in July, we will come in under 2008 sales.

Wow! That would be epic.

rp1
Guest
rp1

#58 @Best place on meth: “Sales look dead today, not a single SFH moved on the east side.”

It’s the weather!!!

rp1
Guest
rp1

#63 @Best place on meth: “Starting today you may bring your own bottle of wine to restaurants.”

I like it. If other cheapskates and/or snobs bring their own bottles of wine, I expect to pay a lower markup.

Boombust
Guest
Boombust

WHAT I MEANT was…

Never mind.

Navin R. Johnson
Guest
Navin R. Johnson

@joe_blown_away_by_high_housing_costs:

That is a wonderful story. Thanks for posting 🙂

VHB
Member
VHB
Jul-2012	
Total days	21
Days elapsed so far	13
Weekends / holidays	6
Days missing	0
Days remaining	8
7 Calendar Day Moving Average: Sales	106
7 Calendar Day Moving Average: Listings	220
SALES	
Sales so far	1489
Projection for rest of month (using 7day MA)	848
Projected month end total	2337
NEW LISTINGS	
Listings so far	3226
Projection for rest of month (using 7day MA)	1763
Projected month end total	4989
Sell-list so far	46.2%
Projected month-end sell-list	46.8%
MONTHS OF INVENTORY	
Inventory as of July 19, 2012	19208
Current MoI at this sales pace	8.22

Here are the norms from the monthly REBGV reports

	July		
	sell	list	sell/list
2001	2618	3504	74.7%
2002	2670	3929	68.0%
2003	4023	4447	90.5%
2004	3019	4785	63.1%
2005	3652	4107	88.9%
2006	2732	4370	62.5%
2007	3873	4924	78.7%
2008	2174	7104	30.6%
2009	4114	5061	81.3%
2010	2255	4138	54.5%
2011	2571	5097	50.4%
Mean	3064	4679	65.5%
median	2732	4447	71.3%

If we have <=85 average sales per day for the 8 days remaining in July, we will come in under 2008 sales. If the post July 9th sales continue to fizzle, we'll hit that, I think.

HAM Solo
Guest
HAM Solo

Who needs Luongo anymore, when RE market provides 2 shutouts in one day?

jesse
Member

@joe_blown_away_by_high_housing_costs: “the same realtor sold us that condo with the same smelly carpets in it. I don’t understand what has changed

1. You are now the seller, not the buyer.
2. Markets can turn illiquid. Didn’t they explain that to you?

Best place on meth
Member
Best place on meth

Congratulations to mortgage poor Vancouverites:

Starting today you may bring your own bottle of wine to restaurants.

Please leave the Peller Estates at home to avoid embarrassing yourselves any further.

Cranteeny’s are not applicable to this offer.

frank
Guest
frank

@Best place on meth:

Fish says no sales of SFH in West Vancouver either. This could be a trend starting.

paulb
Member

New Listings 193
Price Changes 90
Sold Listings 87
TI:19208

http://www.laurenandpaul.ca

midnite toker
Member
midnite toker

@joe_blown_away_by_high_housing_costs: Wtf dude, I don’t even like to buy a new (used) car unless I’ve sold the old one first.

Anonymous
Guest
Anonymous
-
-                     MMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM 
-                  MMMM MM                          MMMMMMM 
-               MMMMM   MM                       MMMMM   MM 
-            MMMMM      MM                     MMMM      MM 
-          MMMMM        MM                  MMMMM        MM 
-       MMMMM           MM               MMMMM           MM 
-    MMMMM              MM            MMMMM              MM 
-  MMMM                 MM          MMMM                 MM 
MMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM                   MM 
MMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM                      MM 
MM                      MM       MM                      MM 
MM                      MM       MM                      MM 
MM                      MM       MM                      MM 
MM                      MM       MM                      MM 
MM                      MM       MM                      MM 
MM                      MM       MM                      MM 
MM                      MM       MM                      MM 
MM                      MM       MM                      MM 
MM                      MM       MM                      MM 
MM                      MM       MM                      MM 
MM                      MMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM 
MM                   MMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM 
MM                 MMMM          MM                 MMMM    
MM              MMMMM            MM              MMMMM      
MM           MMMMM               MM           MMMMM         
MM        MMMMM                  MM         MMMM            
MM      MMMMM                    MM      MMMMM              
MM   MMMMM                       MM   MMMMM                 
MM MMMM                          MM MMMM                    
MMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM                       
                                                            

You will be assimilated….

Best place on meth
Member
Best place on meth

Sales look dead today, not a single SFH moved on the east side.

Maybe the MLS is broken.

registered
Member
registered

@46 jesse: “It’s fun to talk about industry-generated HPIs but I pay little attention to them anymore…”

Garth’s column, of course, was of high interest for those who don’t understand that, market participants unfamiliar with the deep concerns about the industry HPI. For those already in the know Kay’s third generation insider perspective was the gold. Don’t really see a reason for downplaying either.

joe_blown_away_by_high_housing_costs
Guest
joe_blown_away_by_high_housing_costs
Overheard this conversation today at a random bus stop in the Lower Mainland: A: I haven’t seen you very much lately B: Yeah, we just bought a house and it is constantly in need of repairs. Every time we touch something it breaks. We opened a window and the glass fell out so we had to fix that. We had to get a new furnace. We had to replace this. We had to replace. We keep finding deficiencies that need to be replaced. A: Oh that sounds stressful. B: Yes it is stressful. And to add to our stress, the condo we were living in before we purchased this house isn’t selling. Our realtor told us the reason our condo isn’t selling is because the carpets smell bad and that we should replace them. We can’t afford to install new… Read more »