Living in a Van… couver

For the longest time the rallying cry ‘location, location, location’ was used by real estate salespeople everywhere.

Then marketers started to bore of that chant and realized they had to also sell property way out in the boonies or in an industrial area with landfills and transit hubs and cleverly adapted the old adage to ‘transportation, transportation, transportation’.

Well some enterprising souls have a housing solution that fits both of those bills: living in their car.

In early December, Arthur bought a $500 used van off Craigslist from a farmer in the B.C. Interior. With the help of his family, the vehicle was gutted, cleaned of mice feces and rebuilt with $400 worth of furniture, wiring and insulation.

In the small space, the van has four main areas: the kitchen and sink, work space, storage and bed. Without a personal toilet or shower, he has a daily excuse to go to yoga for exercise and to use the studio’s facilities.

The difference has shown in his savings: his monthly rent has reduced from $850 to a $200 parking fee plus $50 for hydro.

Full article over at the Huffington Post.

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Boombust
Guest
Boombust

Hmm…

I wonder if a kondo kar would be also fit the bill?

jesse
Member

Been going on since the ’60s. Notice he’s saving on rent costs.

An Observer
Guest

I’ve mentioned before that I get email alerts on south surrey sales above $1.2 million in a few areas. Inventory in these areas and price ranges are currently about 150 homes and January has seen 1 sale (for $1.365 million)

That gives it an MOI of over a decade!!!

A year ago way over priced homes were selling. 6 months ago only reasonably priced (close to or under assessment) homes were selling. Now, nothing is selling.

Q
Guest
Q

More credit tightening from Ottawa may be required. This is in the Globe and Mail:

“The pace of consumer borrowing is climbing again in Canada, according to a new reading that comes just a week after the Bank of Canada took its finger off the rate trigger because the credit picture was improving.

“Awkward” is how deputy chief economist Douglas Porter of BMO Nesbitt Burns puts it.

To be sure, as the central bank noted, the pace of consumer borrowing is easing, though the key debt-to-income level in Canada is expected to remain near a record because credit growth is still eclipsing income gains.”

http://www.theglobeandmail.com/report-on-business/top-business-stories/household-borrowing-has-popped-again-back-near-troubling-levels/article7997806/

patriotz
Member

This is basically why a “soft landing” is impossible. Consumer debt has to keep increasing just to keep prices from falling.

The peak in consumer debt in the US lagged the peak in RE prices and the same will happen here.

southseacompany
Member
southseacompany
From the Globe and Mail: “Renters want a house. Is it a good investment?” http://www.theglobeandmail.com/globe-investor/personal-finance/financial-road-map/renters-want-a-house-is-it-a-good-investment/article7920860/ “As the primary breadwinner in her family, Monica is facing a paradox. The 47-year-old public-sector employee says her biggest financial concern is not owning her own home. Yet living in Vancouver, with its absurd housing prices, she doesn’t necessarily want to.” ““We’ve stayed away from real estate because to stay in Vancouver it would be out of our reach,” says Monica, who has a husband and an eight-year-old son. “I’m not crazy about a condo, and that’s about all we could likely afford, even in the suburbs. I don’t want to be house-poor.”” “While owning a home mortgage-free in retirement should be one of her financial goals, I recommend that she continue renting for the time being,” Mr. Spitters (Assante Capital Management) says. “Home prices… Read more »
Anonymous
Guest
Anonymous

“This is basically why a “soft landing” is impossible. Consumer debt has to keep increasing just to keep prices from falling.”

Actually at this point we have both falling prices and increasing consumer debt. Once consumer debt actually starts decreasing (which is what the federal government and BOC want) prices will collapse.

Anonymous
Guest
Anonymous

What a stupid gimmick…to prove what? I hate the whole chosen poverty schtick. It reveals that, yes, poor people living in cars have it hard. Now, back to my middle class life….

Anonymous
Guest
Anonymous

southseacompany: Mr. Spitters (Assante Capital Management) says. “Home prices are at historic highs and are already showing signs of correcting… There may very well be a time where she can purchase a home for significantly less than a home costs now.”

Although the advice is correct you have to love how the news papers go to people with a vested interest to comment. What a surprise the guy from Assante Capital Management suggests other investments over home ownership. I bet he has a mutual fund that would be a perfect fit.

specialfx3000
Member
specialfx3000

Re: #8.

I agree that this is some silly ’10 minutes of fame’ gimmick. Surprise, surprise, he’s some young designer who is very likely above the poverty line that thinks living in a van will bring out more of his creativity.

Cost-wise, $250 per month for 45 SQ FT is pretty expensive, no?

So he downgraded from a laneway house to a van.

Here’s a suggestion Mathew. Take it another notch and switch to a treehouse and save on the $200/month parking fee. Now you only need to pay $50/month for the hydro part.

vreaa
Member

Reversion To What Mean?

The Vancouver market is weakening, and prices are heading down. Where will they settle?

For a discussion of long-term trend-line support, see ‘The Froogle Scott Chronicles: Mortgaging Our Souls In Paradise – Part 10: Reversion To The Mean’
VREAA 30 Jan 2013
http://wp.me/pcq1o-59a

Many Franks
Guest
Active Member
Many Franks

@specialfx3000, @Anonymous: You’re presuming an awful lot about the guy’s motivations. I find what he’s doing very interesting and I’m glad he’s documenting it.

Remember the boat squatters in False Creek? They were evicted in part because of high fecal coliform counts in False Creek. When that subsequently failed to clear up the city found a massive sewage leak under Chinatown — but the new moorage laws stayed in place and few boaters remain. I remember walking along the seawall and encountering a crowd of condo owners yelling angrily at a new boat that was coming in for moorage. My sympathies were with the boaters; they made Vancouver a more interesting place.

Left already living in San Diego
Guest
Left already living in San Diego

Here I go again:
21 degrees and sunny here, how is all that golfing , skiing and sailing at the same day going on the best place on earth? I wish I could do that too sometime.
Enjoy

Anonymous
Guest
Anonymous

ManyFranks: “I remember walking along the seawall and encountering a crowd of condo owners yelling angrily at a new boat that was coming in for moorage.”

You are still allowed to moor in False Creek. There is just a 3 week time limit per stay. There are lots of boats moored there right now. Your ‘story’ doesn’t make any sense. Why would condo owners be yelling at boaters legally coming in for moorage? Also how do you know they were condo owners? Maybe you confused people cheering at the dragon boat races?

@vreaa
Guest
@vreaa

“The Vancouver market is weakening, and prices are heading down. Where will they settle?”

From comments you’ve made on your blog it seems that you think prices are going to 2001 level adjusted for inflation. Isn’t that right?

Many Franks
Guest
Active Member
Many Franks

@Anonymous:

You are still allowed to moor in False Creek. There is just a 3 week time limit per stay. There are lots of boats moored there right now.

Yes, but full-time liveaboards now have to motor around to the Fraser or elsewhere part of the time, which wasn’t feasible for many of them; the community that used to be there was destroyed as a result (which was the plan).

Your ‘story’ doesn’t make any sense. Why would condo owners be yelling at boaters legally coming in for moorage? Also how do you know they were condo owners? Maybe you confused people cheering at the dragon boat races?

They were yelling about having to pay property taxes while the boaters freeloaded.

Goober
Guest
Goober

“What a stupid gimmick…to prove what? I hate the whole chosen poverty schtick. It reveals that, yes, poor people living in cars have it hard. Now, back to my middle class life…”

That’s white people for you…

patriotz
Member

“They were yelling about having to pay property taxes while the boaters freeloaded”

Freeload what? Someone living in a boat that has to move every few weeks doesn’t seem to be in a good position to send kids to school or use the public libary for that matter.

Many Franks
Guest
Active Member
Many Franks

@patriotz: At the time they didn’t have to move every few weeks, but that’s beside the point. Basically I think the owners were angry that they were paying a lot of money for a waterfront view with derelict boats in it. And again, my sympathies were mostly with the boaters.

Q
Guest
Q

I’m not an investor, but I just want to say that the new BlackBerry sounds pretty good. After reading this, I almost feel like buying the one with the QWERTY keyboard. I am so sick of the Apple touchscreens.

http://www.cbc.ca/news/business/story/2013/01/29/business-rim-blackberry.html

…and good idea to drop the name “RIM” and just call the company BlackBerry. The other name sounded like a sex act.

Apple has had a lot of bad press lately. Samsung seems to be the new favourite. I feel like the smart phone market is ready for a bit of a shake up. I feel like the BlackBerry has a genuine shot of being a success.

Democrass
Guest
Democrass
“Freeload what? Someone living in a boat that has to move every few weeks doesn’t seem to be in a good position to send kids to school or use the public libary for that matter.” I rent a waterfront condo in South False creek (been there four years, no rent increase, $1800/month, 1100 SF, 2 beds 2 baths – when I moved in similar units witch same view listed for $950,000, now listed for $750K – $850K – i rest the bear case). Those boats wreaked havoc in the summertime. All night parties, people playing guitar/bongos and singing until 4 am. Even swimming and yelling in the fecal waters (lying awake in bed I hoped that they would contract an infection). Walking along false creek in those days on a hot July – it smelled like a sewer on the… Read more »
Democrass
Guest
Democrass

“That’s white people for you…”

Black people too:

“A poor man chains himself” Kenyan proverb

Bag it and tag it
Guest
Bag it and tag it

@ 13 Left already living in San Diego Says
OK,OK, we get the point. We just don’t need to hear it every week.

Anonymous
Guest
Anonymous

2001 price level? hahaha silly bear!

Groundhog
Guest
Groundhog

“2001 price level? hahaha silly bear!”

is anything you can share with him that would indicate that this is silly?

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