Cambie-fornia, Compare and despair.

Remember when a million dollars was real money?

It’s always fun to compare what your Vancouver home dollars will get you in less fortunate countries.

A commenter by the name of mortgage posted this delightful contrast.

Here’s what $2.5 million will get you on a major street in the Cambie corridor, walking distance from the world famous ‘Oakridge Center Mall’.  This 1948 beauty is located near the vibrant heart of Vancouver, where the sun always shines:

Somewhat south of there is a place called Beverly Hills California.  If you take your $2.5 million down there you’ll find something like Dudley Moores old digs:

..but you wouldn’t be walking distance to Oakridge Mall.  They have a Zellers.

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Anonymous
Guest
Anonymous

@rp1:

I agree with patriotz – cool your jets

At the same time – remember your history – Chinese came here of their own volition, believing in new t’ang colonies and “gold mountain” – they also only built the railway in BC – no easy feat, but impossible without the Canadian, English and Scottish engineers and labourers, too.

Do it, you know you want to..

patriotz
Member

@rp1:
That quote is from Bob Rennie. Direct your criticism at him, not the person commenting on it. Once again, the RE pushers play the “Chinese” (however defined) card on every hand.

Beuller
Guest
Beuller

@Naked Official #9000: I think I saw her in a line up to buy a condo a few weeks ago. She really stood out as she was the only non asian with her parents money.

Con-Rad
Guest
Con-Rad

@Naked Official #9000: Yeah sell list skewed lower because of shadow inventory. Makes sense, bears.

rp1
Guest
rp1

#85 @Can’t Wait: “The second- or third-generation Chinese buyer is a big driver of the condo market”

The second or third generation Chinese is also a big driver of the census. More yellow fever? Beware: we got these people to build a railroad for this nation and now their grandchildren which you went to school with in the 80’s are buying all the condos?

Can we keep the focus on the criminals embezzling dirty money from the PRC? Please?

rp1
Guest
rp1

#87 @Naked Official #9000: “It’s actually not that bad.”

I’m speechless and horrified.

rp1
Guest
rp1
Regarding Canadian and Australian currency being accepted as reserves: http://www.bloomberg.com/news/2012-11-19/imf-may-classify-aussie-canadian-dollars-as-reserve-currencies.html If this happens it could be very supportive for the US and world economies long term. For a country to have the world’s reserve currency is both a rare privilege and a great burden, which the US has shouldered for a long time. The US has to print money (= issue debt) in line with world economic growth. The system is easily gamed by building up excess reserves. Everyone needs reserves, right? But it distorts the US economy, which is a major engine of growth. One advantage of a gold-backed system is that gold changes hands so trade imbalances must be settled. The problem with a gold-backed system is that anyone who buys gold gets a risk-free claim on world economic growth, because the world’s gold supply usually expands at… Read more »
Naked Official #9000
Guest
Naked Official #9000

@Con-Rad:

you know the sell list ratio is skewed LOWER because so many properties have been taken off the market and are now SHADOW inventory, probably waiting to be listed “when conditions improve in the spring”..

you really are a testament to the stupid arrogance of the bulls. i’d think you were trolling if you weren’t so sincere in your pomposity.

Naked Official #9000
Guest
Naked Official #9000

@Anonymous:

i never get tired of this joke

today i saw a woman wearing a black jacket and toque actually J-WALK on commercial – in the rain, in the dark – pushing a stroller. i honked as i passed, only to meet her in a store about 20 minutes later. i asked her if that was a good idea, j-walking in the dark, in the rain, wearing black, with her baby in a stroller, and she said:

“It’s actually not that bad.”

you can’t argue with that kind of dumb, no point.

and yeah, she was white, and from what i could tell, buying organic.

Naked Official #9000
Guest
Naked Official #9000
Con-Rad
Guest
Con-Rad

Check out dat sweet sell-list ratio lewsers

Whaddya mean November is 20% lower than last year?

Awwwww sheeeeeeeeeeaaaaaaaat

Can't Wait
Guest
Can't Wait

@Devore:
“It is perfectly reasonable to say a recent arrival to a foreign country would prefer to purchase in an area with a well established community of his brethren.”

Ok, but what’s that have to do with the price of tea in China? The article isn’t talking about immigrants, it’s talking about second and third generation Canadians of Chinese ethnicity.

“The second- or third-generation Chinese buyer is a big driver of the condo market”

Also…

“Chinese is not a race.”

when people talk about Chinese people they are talking about the Han Chinese ethnicity. That’s the common every day usage in North America. And considering that over 90% of the people in PRC are Han, it seems very reasonable to me.

Anonymous
Guest
Anonymous

@an observer: / That was from the 2006 census – things are obviously much different in certain areas, like British Properties, Shaughnessy etc, now compared to 6 years ago///

Would that be the new Thaughnethy or the old Thaughnethy?

Devore
Member
Devore

@Can’t Wait:

Reports like this leave me scratching my head. Would we ever see something that says “Steveston, with it’s well established Caucasians community, is very desirable to white people.”

No, because Chinese is not a race. It is perfectly reasonable to say a recent arrival to a foreign country would prefer to purchase in an area with a well established community of his brethren. Whether that’s Chinese or Persian or Portugese.

paulb
Member

@Troll: And assessed at over 1.9M

real_professional
Member

Help should be help,….. stupid tablet

real_professional
Member

Whoa, did I miss something? When the help did we have another 17k party, werent we at 16 and change last week?

Troll
Guest
Troll

@Lurker:

Here’s another good sign o the times:

2107 W 36TH AV, V6M
MLS# V96002
60 ft frontage
Original ask was $2.098m
Sold after 110 days for $1.350m

Actually they’ve been trying since the spring, originally listed at $2.298M on March 19. Those were some seriously delusional sellers.

jumpin in
Guest
jumpin in

@lurker

so trying to sell at 1 888 888 did not help?
http://www.ecorealtyinc.ca/listing?id=259606107

jay
Guest

According to this site, Point Grey has 32.4% immigrants. Fewer are from China, after UK, Hong Kong and USA:

http://www.blocktalk.ca/vancouver/point-grey/lifestyle/

Groundhog
Guest
Groundhog

@an observer

White Rock condos have already taken a large drop and will continue to do so. The amount of supply of new condos coming down the pipeline is unbelievable. The old condos, a lot from the 70’s, have no value and will have lots of repairs needed down the road. #1 on your weekly drop this week is a perfect example. I haven’t noticed the same drops in SFH, but very low sales as you mentioned. The few homes that have dropped to more reasonable levels I have seen sell quickly, but most of what I see matches what you say, homes sitting for months on end with ridiculous asking prices.

Macafee is cool
Guest
Macafee is cool

Spain should ask Kenney for advice how to perfect this proposal. We are ultimate “whore” country in giving up citizenships.

“Reuters reports that Spain is considering offering rich investors from countries such as Russia and China the right to settle in return for them buying up property in the stagnant housing sector. ”

http://www.zerohedge.com/news/2012-11-19/spanish-casa-and-residency-es-su-casa-200000

Maverick
Guest
Maverick

You just can’t underestimate the stupidity out there.

I fully believe a lot of sellers still think the market will be much better in the Spring and will list then.

The RE industry has really been pounding the MSM table on the “soft-landing” scenario and many still believe it.

It’s going to be nice to watch people wake from their delusions.

an observer
Guest
I’ve been tracking South Surrey (specifically Morgan Creek, Elgin, Ocean Park and Grandview) for a while in the 1.2M+ range and things are getting ugly… * 2 sales this month on an inventory of 205 so projecting totals for the month it is roughly an MOI of 60… yeah, 5 years… * Out of 134 properties in the > 1.5M range there have been 0 sales this month. * Both sales this month were just above assessment (2% and 4% above). Over the last couple of months, just about all of the sales have been near or below assessment compared to nothing within 20% of assessment as recently as this summer. * In Ocean Park / Crescent Beach 1 of 45 listings are priced less than 5% above assessment * In Elgin 6 of 74 listings are priced less than… Read more »
Dumbest time to buy RE in 30 years
Guest
Dumbest time to buy RE in 30 years

Another 108 idiots removed from the potential buyers list.