So who’s buying condos?

By now even the reader of the province know it’s a slow real estate market out there.  Not much is selling, sales to list ratio is low and prices are dropping.

..and yet, we still hear of new developments that have big opening day sales (where ‘opening day’ conveniently ignores months of marketing).

So who’s buying these new condos?

According to Bob Rennie it’s young people without any money:

Rennie Marketing registered 7,500 potential buyers before the sales launch, and he says the majority were under 28 years old. He believes it is the young demographic that is fuelling the sales of projects like the two he’s selling at Marine and Cambie. Part of MC2’s appeal is that because it’s not downtown (a 20-minute SkyTrain ride), the prices are lower. And pricing on more than half the homes was kept under $350,000, to appeal to the young demographic.

“So, we made the right decision bringing on both towers at MC2,” he reflects, sitting in a trendy coffee shop on Main Street. “We’ve released all the affordable product. There are 130 homes without parking so that we could get inventory under $300,000. We really did the research on the first-time buyer when we did Marine Gateway across the street, and 28 per cent of our buyers answered in an exit survey that they were receiving down payments from mom and dad, and grandparents.”

Full article in the Globe and Mail.

66 Responses to “So who’s buying condos?”

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    “There are 130 homes without parking so that we could get inventory under $300,000″

    Oh. For a minute there I thought prices were dropping.

    Well-loved. Like or Dislike: Thumb up 50 Thumb down 1

    They pushed a sales brochure/card regarding this development through my mail slot. All the units advertised for less than $300K were approximately 440 square feet and billed as “1 bed”. The 2 bed units were all under 800 square feet and had prices from $442K to $539K.

    Well-loved. Like or Dislike: Thumb up 48 Thumb down 0

    Hilarious. Most of these units were bought by the developer. Prelude city homes is barely selling. They say 53% sold but I’m sure most were bought by insiders. And Prelude is in a much nicer part of town. I mean Marine and Cambie? Two loud truck routes? Even with the marine development, this is not what I would call livable or walkable. The development behind prelude completed a year ago and half the units are on the market, way overpriced. With all this inventory, pressure is forcing prices down

    Well-loved. Like or Dislike: Thumb up 39 Thumb down 1

    painted turtle Says:
    4

    I miss Best Place on Meth’s humour…

    Well-loved. Like or Dislike: Thumb up 33 Thumb down 5

    @painted turtle
    what happened to him? Is he banned?

    Hot debate. What do you think? Thumb up 12 Thumb down 1

    @pii: Not banned. The only people that get banned are the ones that crapflood the comments with repetitive nonsense.

    BPOM might have fled to warmer climes or may be in hibernation.

    Hot debate. What do you think? Thumb up 11 Thumb down 1

    bullwhip29 Says:
    7

    Who believes % sold figures anyway? Everyone knows there is a bit (or a lot in some cases) of deception going on here. Does anyone know if Telus Gardens has sold out yet? Or how about all the new developments in and around the Olympic Oval? Sales to staff and other insiders (of the better situated units at discounted prices) often occur weeks/months before the “official” launch.

    Of course, little do these buyers know that this is really what the game is all about. You know how it goes…I know a guy that has the inside track on a hot new RE deal and he tells me that these will get scooped up fast. Since you’re family, he “might” be able to get one (or how about three) for you too before they go on sale to the general public. Don’t pass up on such an opportunity “if” it were to present itself. LOL.

    Basically MC2’s only claim to fame is that it is within the boundaries of Vanc’s westside. To many this is important (like driving a 1 series BMW just to say that I own one). IMHO, sacrificing everything (location, convenience, quality, liveability, life savings etc) for the sake of a “westside” address is overkill. This is a clear sign (in bright neon) that this is getting seriously long in the tooth. If I were looking for a place on the Cda Line route, I’d look at something in Richmond which is only a couple of stops away and already has the amenities and infrastructure that is being “proposed” at Cambie and Marine.

    Well-loved. Like or Dislike: Thumb up 33 Thumb down 0

    I personally know of a young woman in her 20’s who just got her first job and refused to rent. Her parents forked out the 25% down for a condo in South Surrey as she did not qualify for CMHC financing.

    She purchased a one bedroom with a flex space, once she moved in she was astonished at the extra monthly fees she has to pay. She had her boyfriend move in to help with the payments and now has foolishly went out and got a dog.

    6 months later from the original purchase she now finds herself in a space that is to small. Now she wants to rent (yes rent) a larger place (2 bedroom) closer to Vancouver.

    To make all this happen she now has to find a tenant for her South Surrey condo.

    It seems that Gen Y looks at condo buying as a fashion accessory and not a prudent financial decision.

    There is a serious lack of financial literacy amongst the marginal buyers of real estate.

    Well-loved. Like or Dislike: Thumb up 112 Thumb down 0

    Hidden due to low comment rating. Click here to see.

    Poorly-rated. Like or Dislike: Thumb up 0 Thumb down 13

    patriotz patriotz Says:
    10

    @fun:
    Ottawa has not snowed yet and was 20 degrees last week. 5 degrees as I write this.

    Well-loved. Like or Dislike: Thumb up 27 Thumb down 7

    Naked Official #9000 Says:
    11

    @DJB:

    Much like history, the gears of the real estate industry are greased with human blood and tears

    Well-loved. Like or Dislike: Thumb up 21 Thumb down 1

    @DJB:

    It seems that Gen Y looks at condo buying as a fashion accessory and not a prudent financial decision.

    This was a marketing objective promoted by Rennie and other snake oil salesmen where they openly said that they are selling the lifestyle not RE and results are just amazing by all means.

    Well-loved. Like or Dislike: Thumb up 41 Thumb down 0

    @Brian: And the Prelude development is butt-ugly. See their showroom at Oakridge mall.

    Hot debate. What do you think? Thumb up 11 Thumb down 0

    Can't wait Says:
    14

    @DJB:

    Caucasian On Credit or Hot Asian Money?

    Hot debate. What do you think? Thumb up 11 Thumb down 10

    I miss BPOM too :(

    Hot debate. What do you think? Thumb up 20 Thumb down 7

    Patiently Waiting Says:
    16

    Toronto lawyer disbarred for dirty real estate deals.

    http://www.thestar.com/news/gta/article/1290124–law-society-disbars-veteran-real-estate-lawyer-for-assisting-in-sham-deals

    “In one deal, Sandler noted Hatcher family members bought a property at a price that, even on his own understanding, exceeded fair market value. The transaction was designed to get more money from an institutional lender to enable him and others to pay additional debts on the property, Sandler said.”

    “Earlier this year, the Star reported a pattern of house flips and price jumps as much as 60 per cent in less than a day involving Hatcher. Most of the deals didn’t include deposits. Purchasers got money back. Mortgages exceeded the value of homes. The same buyers and private lenders popped up in many sales.”

    Well-loved. Like or Dislike: Thumb up 26 Thumb down 0

    @Patiently Waiting:

    Those corrupt mainlanders driving up our real estate with their dirty money! They make me so mad!

    Hot debate. What do you think? Thumb up 20 Thumb down 12

    “Sandler noted Hatcher family members bought a property at a price that, even on his own understanding, exceeded fair market value.”

    Hatcher? that does not sound Chinese to me. those greedy, corrupt, Coach Bag buying, capitalist white folks. :)

    Hot debate. What do you think? Thumb up 17 Thumb down 3

    According to Colliers (biased of course) this report http://www.vancouversun.com/business/Transit+corridors+fuel+sustained+demand+condos/7574525/story.html
    says that transit friendly developments are primarily being bought by (and marketed to) Chinese investors (locals from the sounds of it) either for income or for their kids – so the kids don’t need their own money I guess. It’s hard to stop the herd once they get moving but the cliff is quickly approaching..

    Yup miss BPOM

    Hot debate. What do you think? Thumb up 17 Thumb down 1

    Anonymous Says:
    21

    “Earlier this year, the Star reported a pattern of house flips and price jumps as much as 60 per cent in less than a day involving Hatcher. Most of the deals didn’t include deposits.”

    For all the times we hear the bubble is not like the US it looks more and more the same every day. What ever happened to appraisals? Even automated ones can pick up a 60% increase in 1 day.

    Well-loved. Like or Dislike: Thumb up 27 Thumb down 0

    No Noise Says:
    22

    @GAM

    I don’t have a lot of time to think about your link but I have read it (will spend more time on it later). To respond to what i think you are getting at I would just say – I am passing on important data on who is buying a certain sector of real estate at the moment – according to Colliers and the article.. I dont care whether they are Chinese – or local Chinese more specificallly as the article indicated – or Brazilian for that matter. Its just important info for folks interested in Van RE – whether its actually accurate or not is the real question. I suspect those on here smarter than I (and with more time!) will be chiming in shortly. BTW I personally think its a big mistake to be buying Van RE right now (hence my herd/bubble causality comment).

    Like or Dislike: Thumb up 6 Thumb down 0

    Naked Official #9000 Says:
    23

    @GAM:

    Comrade, chill the fuck out

    Hot debate. What do you think? Thumb up 6 Thumb down 12

    China to build world’s tallest skyscraper in 90 days: or your money back?
    http://globaleconomicanalysis.blogspot.ca/2012/11/sky-city-china-to-build-worlds-tallest.html

    After this they will drill to the center of the earth in a week and colonize the moon in time for supper.

    I trust I don’t even need to mention the skyscraper index.

    Well-loved. Like or Dislike: Thumb up 21 Thumb down 0

    Anonymous Says:
    25

    I too liked BPOM’s posts. I was going to suggest we all click our heels 3 times and yell “FUCKING SHITBALLZ” under the next full moon to see if we could conjure him back.

    But, having just read the previous post i think NO#9000 is already filling in some of the lost commentary.

    Hot debate. What do you think? Thumb up 15 Thumb down 4

    @Anonymous:

    “Earlier this year, the Star reported a pattern of house flips and price jumps as much as 60 per cent in less than a day involving Hatcher. Most of the deals didn’t include deposits.”

    For all the times we hear the bubble is not like the US it looks more and more the same every day.

    Exactly. As mentioned before, this kind of mortgage fraud was rampant in the US during its bubble, and only became evident once prices crashed. Get ready for an epic deluge of similar stories on the CBC over the next couple of years.

    The only reason we haven’t (yet) seen much of this in Canada is because prices are just beginning to fall. The main exception is Alberta, where prices peaked in 2007. Anyone recall the big mortgage fraud investigation in Calgary a couple years ago? Coincidence?

    Well-loved. Like or Dislike: Thumb up 21 Thumb down 0

    Guy Smiley Guy Smiley Says:
    27

    @ rp 1

    Hahaha – there’s a pre-sale line up i want in on. What could possibly go wrong?

    Like or Dislike: Thumb up 4 Thumb down 0

    HAM Solo Says:
    28

    The only thing that is different here is that in the US, I don’t recall any American continually blathering on about it being different there, than previous real estate busts in, say, Japan. Once they gave up on “running out of land” and “real estate always goes up” they were pretty quick to start pointing in the mirror at their own stupidity. And once they began to trace the breadcrumbs back to Wall Street, they didn’t have to overcome some massive national myth about how conservatively financed or well-regulated Lehman Brothers was.

    The Canadian housing bust will be different in that it will crush the bogus elements of our so-called national identity. Those who define themselves as “not American” will find our housing bust extra-American. Those who coo about Canadian banking will maybe start being a bit more even-handed when comparing Bay Street’s crooks with Wall Street’s sheisters. And those who think of Canadian identity as being linked to certain social programs, may need to find a new anchor for their nationalism as these programs lose their tax base.

    One suspects Canadians may be much less anchored post-bust than the Americans were. If you think the Tea Party was nutty, wait for the Maple Syrup party to take over.

    Well-loved. Like or Dislike: Thumb up 51 Thumb down 1

    @HAM Solo: What, you mean the government (us) cannot afford free medical care?

    Like or Dislike: Thumb up 1 Thumb down 1

    HAM Solo Says:
    30

    @ gokou

    Wouldn’t it be ironic if Americans had medical care and ours went private.

    Well-loved. Like or Dislike: Thumb up 28 Thumb down 1

    Girlbear Says:
    31

    @rp1: Does this Chinese tallest building in the world not lend credence to the fact that no one “runs out of land”. As they say, the sky’s the limit”!

    Hot debate. What do you think? Thumb up 10 Thumb down 1

    @gokou3: The government is on the hook for the whole damn housing bubble. The Conservatives are running ads: “can we *afford* Thomas Mulclair (NDP)” ? Where did they ask “can we *afford* the 600 billion dollar liability that sustained high house prices for a couple of extra years” ?

    Well-loved. Like or Dislike: Thumb up 48 Thumb down 0

    southseacompany Says:
    33

    Rennie is focusing on the echo boomers as the next buyers. Boomers have money, they will give their children money. The echo boomers may not sustain the market and the prices we now have, but they are obviously the next in line to buy homes. So this is not much of a brainer. But it is interesting that he is shifting away from HAM as an ongoing source of buyers.

    Hot debate. What do you think? Thumb up 15 Thumb down 1

    Extend and Pretend Says:
    34

    @rp1: Instant Homes

    Their 30 story prefab 360 hour timelapse is here:

    http://gizmodo.com/5873962/amazing-timelapse-of-30+story-building-made-in-only-360-hours

    I wonder if they might be onto something.

    Some negatives could be the design lacks concrete foundation, parking garage, and maybe has acoustical isolation problems between floors?

    On the other hand it is cheap and responsive to market demand. If there was more competition in construction like this, supply would start to erode the demand price, wouldn’t it? Part of the problem in Vancouver are these ridiculously long approval and construction times. If it took weeks instead of years to bring new housing into the market, mortgage based speculators would be driven out.

    What I’d like to see is hundreds of buildings like that one springing up overnight as residential housing in Vancouver – so many that there would be two units for every man, woman, and child in the province. A technology like this could be used to completely overwhelm any notion of scarcity. Apartments would go for less than one year’s salary.

    Hot debate. What do you think? Thumb up 13 Thumb down 3

    patriotz patriotz Says:
    35

    @southseacompany:
    “Boomers have money, they will give their children money.”

    Every study I’ve seen says they don’t. What they have is the ability to borrow against their houses. For now.

    Well-loved. Like or Dislike: Thumb up 53 Thumb down 1

    patriotz patriotz Says:
    36

    @HAM Solo:
    ” If you think the Tea Party was nutty, wait for the Maple Syrup party to take over.”

    The Tea Party is really a reaction to the perception – which is turning out to be correct – that “minority” Americans are becoming the new majority. Their economic positions – if you can call their mass of contradictions positions – are just a fig leaf.

    It’s also not a party at all but a wing of the Republicans. Our present day Conservatives have similar people, it’s just that Harper has the authority (which nobody in the US has) to keep a lid on them, most of the time.

    Hot debate. What do you think? Thumb up 17 Thumb down 5

    How long until Vancouver’s building standards new low reaching for new heights a la China?

    http://tinyurl.com/bete3gm

    Like or Dislike: Thumb up 3 Thumb down 1

    Rennie ” he says the majority were under 28 years old. He believes it is the young demographic that is fuelling the sales of projects”

    Give me a break. The majority could have been young rich Asians. You only have to live in this City to know where the money is coming from. CHINA.

    Hot debate. What do you think? Thumb up 17 Thumb down 14

    @mac: Whoops! I see rp1 already posted that.

    Like or Dislike: Thumb up 0 Thumb down 1

    Extend and Pretend Says:
    40

    @mac: Prefab construction.

    I commented on the benefits of that construction technique just a few posts below yours with the same link!

    Do you have further knowledge about it? I’ve seen prefab two story steel home kits that work quite well. Steel is more expensive than wood, but there is no cutting or nailing. The whole thing is screwed together very quickly and is very solid against high winds. Also, there is no creaking, warping, or imprecise walls/surfaces etc like a wood nailed building.

    Like or Dislike: Thumb up 6 Thumb down 1

    Landbaron Says:
    41

    Overheard on the Skytrain today:

    “A 19 yr old friend of mine just got an inheritance from his grandparents. He’s using it to put a down payment on a presale while still living at his parents place. He figures he can flip it for a profit, or just move in once it’s built.”

    Umm, I think he forgot about the mortgage etc. once completion hits.

    Yikes!! is all I can say

    Well-loved. Like or Dislike: Thumb up 25 Thumb down 1

    pricedoutfornow Says:
    42

    @Landbaron:

    I think he didn’t get the memo that condos are often selling for less once completion comes around, not more. This is what happened to some friends of mine who decided to invest in the Olympic Village.

    Well-loved. Like or Dislike: Thumb up 21 Thumb down 0

    @Extend and Pretend: No. I don’t know as much about it as you do. All I know is that once it comes here the trades will cut corners and somehow the thing will leak and fall over but the real estate agents will proclaim it as new rainproof technology. Ta da!

    But it does sound interesting, if somewhat rushed.

    Like or Dislike: Thumb up 6 Thumb down 1

    RaggedyRenter Says:
    44

    Just saw the advert for The Rolston (therolston.com). This has to compete for the worst ad ever
    tagline: OTHER BUILDINGS WANT TO HAVE SEX WITH IT
    It’s a rarity that a building can evoke an emotion… let alone entice other buildings.

    Hot debate. What do you think? Thumb up 16 Thumb down 1

    Canada line poorly planned, such small platforms, it’s already near capacity, just wait 10yrs when the cambie corridor is full, it will faster to walk downtown,marine condo tower buyers enjoy your landfill nearby stinky

    Hot debate. What do you think? Thumb up 16 Thumb down 5

    Landbaron Says:
    46

    @pricedoutfornow

    hehe, I rent in the OV (thank god!) and it’s amazing how many problems are happening here. Parkades/buildings being re-sealed, roads being re-built, floods (just one the other day), and more!

    The Salt building is being rented out every weekend like it’s a night club, and sometimes during the week. Not that I’m against that (I like to have fun ;), but as a buyer I would be pissed!

    Hot debate. What do you think? Thumb up 18 Thumb down 1

    @RaggedyRenter: No! That’s pathetic. Where’s CondoHype when you need him?

    Like or Dislike: Thumb up 2 Thumb down 1

    Miss BPOM too.

    “McGarret is missing”

    Like or Dislike: Thumb up 3 Thumb down 2

    @Neptune:

    What all those young Chinese are going to do here anyway? They are totally unemployable and not interested in any social aspects that this city has to offer. Just pure waste of human resources at the wrong place.

    Hot debate. What do you think? Thumb up 13 Thumb down 9

    New Listings 133
    Price Changes 90
    Sold Listings 106
    TI:17275

    http://www.paulboenisch.com

    Well-loved. Like or Dislike: Thumb up 77 Thumb down 2

    Girlbear Says:
    51

    @paulb: I think we are at that stage in the year where people pretty much are not that interested in listing their home.

    Like or Dislike: Thumb up 9 Thumb down 0

    Here’s more anecdotal bear food for a slow, rainy day.

    Last weekend we stopped in at a cafe in S. Granville near all the hot high-end shops and I overhead these two women talking about their condo. Of the things overheard was…

    : We didn’t get out like the [Name]‘s. They got out at the top of the market. Oh well. We’re still happy.
    : We did the roof, we did [something else] so there’s only a few more major jobs to do
    : I guess that’s the best thing you can do when your condo goes down in value is just make sure that it’s well maintained and all the building work is done. That way it will pick up value in the long run.
    :And then tons of bitching about everyone else on the strata or who lives behind a door. Clearly not much love in this building wherever it is

    I guess they failed economics.

    Well-loved. Like or Dislike: Thumb up 22 Thumb down 0

    #34 @Extend and Pretend: “Their 30 story prefab 360 hour timelapse”

    I saw that video when it came out. I agree they’re on to something. However 30 stories in 360 hours is 12 hours per floor. 5 floors per day is under 5 hours per floor. And super-tall skyscrapers are in a completely different league of complexity. Look at the Burj Dubai and all the troubles they had when it was 2/3 built. Some serious expertise went into that. If these guys think they can just throw up a 200 story building, well, I expect it to fall.

    Hot debate. What do you think? Thumb up 12 Thumb down 1

    Aww yeah 100+ sales day.
    Average sales still the same as yesterday?
    WHY ISN’T THE AVERAGE MOVING?

    Screw you, statistics

    Hot debate. What do you think? Thumb up 10 Thumb down 15

    How much money does a realtor take home(after association percentage)if he/she helps a buyer buying a $500k home?

    Like or Dislike: Thumb up 3 Thumb down 1

    WantToBuySoonBut Says:
    56

    Hidden due to low comment rating. Click here to see.

    Poorly-rated. Like or Dislike: Thumb up 4 Thumb down 17

    @Con-Rad

    Most sales are made a few weeks ago, December/January sales should be terrible.

    Like or Dislike: Thumb up 4 Thumb down 3

    painted turtle Says:
    58

    “Boomers have money, they will give their children money”
    The boomers I know leave in McMansions and go on expansive holidays, and let their children live with their kids in small condos. It is the mentality of their generation: everything they have is well deserved. They are self made, and their children just need to work harder. And, by the way, they value being individualistic.

    Hot debate. What do you think? Thumb up 22 Thumb down 4

    UnagiDon Says:
    59

    @RaggedyRenter:
    OTHER BUILDINGS CAN TELL THAT IT IS DESPERATE

    Hot debate. What do you think? Thumb up 13 Thumb down 2

    Extend and Pretend Says:
    60

    Anybody have a link to the actual study?

    http://www.vancouversun.com/business/2035/Study+shows+legalizing+could+earn+billions/7585188/story.html

    Pot taxation was discussed on this forum before. I wanted to read how they estimated prices and impact of legalization on usage. The article suggests usage would decline as well. It would be interesting to read the study itself.

    Like or Dislike: Thumb up 5 Thumb down 1

    Anonymous Says:
    61

    Hidden due to low comment rating. Click here to see.

    Poorly-rated. Like or Dislike: Thumb up 0 Thumb down 8

    Naked Official #9000 Says:
    62

    @WantToBuySoonBut:

    “woah is me” – you’d be a better troll if you had a better grasp of the language beyond Finance 100 at BCIT.

    English lesson time, comrade:

    woah vs woe

    “Woe is me” is in fact the correct usage, “woe” being the subject of the sentence and “me” being the object. Grammar aside, it is also a direct quote from the Bible and Shakespeare’s Hamlet. It is an exclamation of sorrow and misfortune. The verb “woe-is-me”ing is a modern adaptation of this meaning to express said sorrow and misfortune to others. Glorified moaning, perhaps.

    Ophelia: “O, woe is me, T’have seen what I have seen, see what I see!” – William Shakespeare, Hamlet. You might almost say Ophelia was ‘woe-is-me’ing… if you wanted to make Shakespeare turn in his grave.

    Like or Dislike: Thumb up 3 Thumb down 2

    Naked Official #9000 Says:
    63

    @G:

    after the 8 ball or before?

    Like or Dislike: Thumb up 0 Thumb down 0

    Anonymous Says:
    64

    @Anonymous: ….so who is buying the condo? the ones with vision, not chicken shit for sure…..

    Maybe chicken brained?

    Like or Dislike: Thumb up 1 Thumb down 3

    Naked Official #9000 Says:
    65

    @RaggedyRenter:

    oh that is too rich..

    from the website:

    “You live downtown in a landmark building. Inside, you’re surrounded by contemporary elegance. Outside, a world of endless possibilities awaits you. THIS IS ROLSTON. It sets the stage for iconic downtown living. Where you want for nothing, and your possibilities are limited only by your imagination.”

    just one big stroke job. cocaine makes you feel like a lot of possibilities are endless, but then your septum falls out.

    is this what we’re doing with the lot the cecil was on? pfft.

    Like or Dislike: Thumb up 5 Thumb down 0

    Naked Official #9000 Says:
    66

    @rp1:

    comrade, your disharmonious ideology of racism does no good for the great harmony loving harmoniously harmonized middle kingdom!

    why would you petition for the failure of the master race?

    upward! and beyond! (straight into the fucking sun with ye)

    whatever happened to craftsmanship? now it’s just a dick measuring contest.

    a little history here for you all:

    “And at the heart of Hitlertopia would be a domed monument called Volkshalle. This building was going to be so big that it should have been called Hulk’s Halle. At 950-feet tall, with a diameter of 820-feet, you could have actually fit St. Peter’s Basilica inside the thing.

    It was so big, in fact, that the architect, Albert Speer, speculated that the acoustics would be literally deafening and that moisture collected by the people breathing inside could actually make artificial rain indoors. Yes, the building would be capable of literally spitting on everyone inside. Can your buildings do that, America?

    Equally audacious was Hitler’s plans for a super-stadium for all his Nazi rallying needs. The German Stadium in Nuremberg, coincidentally designed by the same guy who came up with Germania, would have been huuuuuge. Like, 400,000 seats huge. For context, that’s eight Yankee Stadiums. For even more context, that’s the city of Cleveland. For the most context of all, consider this: The largest stadium in the world today is in North Korea, and it only seats about 150,000. Hitler wanted to almost triple that, and do it using 1930s technology. Like we said, you can’t say he wasn’t ambitious.

    And one more thing — this particular stadium wasn’t just going to be used for goose-stepping parties. It was also going to host the Olympics! All the Olympics. Hitler figured if he was going through the trouble of building the world’s biggest stadium, it was only fair that the world use it for every single Olympic Games ever after. And that they change the name of the Olympics to the Aryan Games.

    Was Never Built Because …

    Ambitious, yes. Possessing of engineering know-how and good old-fashioned common sense, no. Neither project got past the testing stage, primarily because they were so childishly conceived they were impossible to execute.

    For one thing, Berlin’s soil was famously marshy, so building the Volkshalle required a test building to make sure the ground could support so much weight. Speer commissioned a 12,000-ton chunk of concrete to be built to test the soil and if the structure sunk less than 2.5 inches, the Volkshalle would be deemed safe to build. It sank 7 inches, but Hitler simply said, “Eh, build it anyway.”

    Fortunately for the people who would have inevitably been crushed to death by its saliva-covered dome, the war effort required the materials needed to start the Volkshalle, and the building never get off the ground. The sinking test failure is still there, though.

    The war effort killed Hitler’s gargantustadium as well. But not before Hitler and his numbnut cronies got some test seats up and running. Those are still there today, if you’re interested in swinging by and imagining what might have been..”

    Read more: http://www.cracked.com/article_19198_the-5-craziest-buildings-ever-proposed-with-straight-face.html#ixzz2Cu8XWDiL

    editorial – the communist party, if it does not collapse under its own weight, is actively striving for the global imperial brass ring, and all the violence that will ensue – america’s decline may take many decades more yet, but we ought to be sensible and think long term (like, centuries onward) in order to preserve some semblance of our nation for future generations. i realize that sounds paranoid, but i’ve read far too much history to not be convinced of the use of mass migration as a weapon of war – just ask the Tibets and East Turkmenis, the Hakka, North American First Nations, etc. etc.

    Like or Dislike: Thumb up 6 Thumb down 2

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