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.

73 Responses to “Living in a Van… couver”

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    Hmm…

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

    Like or Dislike: Thumb up 2 Thumb down 0

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

    Like or Dislike: Thumb up 4 Thumb down 3

    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.

    Well-loved. Like or Dislike: Thumb up 59 Thumb down 0

    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/

    Well-loved. Like or Dislike: Thumb up 25 Thumb down 0

    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.

    Well-loved. Like or Dislike: Thumb up 55 Thumb down 2

    southseacompany Says:
    6

    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 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.”

    Well-loved. Like or Dislike: Thumb up 45 Thumb down 0

    Anonymous Says:
    7

    “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.

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

    Anonymous Says:
    8

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

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    Anonymous Says:
    9

    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.

    Hot debate. What do you think? Thumb up 12 Thumb down 5

    specialfx3000 Says:
    10

    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.

    Well-loved. Like or Dislike: Thumb up 23 Thumb down 3

    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

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

    Many Franks Says:
    12

    @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.

    Well-loved. Like or Dislike: Thumb up 26 Thumb down 1

    Left already living in San Diego Says:
    13

    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

    Hot debate. What do you think? Thumb up 23 Thumb down 17

    Anonymous Says:
    14

    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?

    Hot debate. What do you think? Thumb up 12 Thumb down 5

    “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?

    Like or Dislike: Thumb up 3 Thumb down 2

    Many Franks Says:
    16

    @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.

    Hot debate. What do you think? Thumb up 11 Thumb down 3

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    patriotz patriotz Says:
    18

    “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.

    Hot debate. What do you think? Thumb up 16 Thumb down 2

    Many Franks Says:
    19

    @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.

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

    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.

    Hot debate. What do you think? Thumb up 17 Thumb down 6

    Democrass Says:
    21

    “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 seawall.

    And they did not move every few weeks. Boats where there for months at time.

    There were incidents that required boat police and the coast guard (not sure what happened – just saw their vessels coming and officers boarding boats) – that is money from my taxes going to police a bunch of nopisy squatters who are shitting in the watter for months at at atime. If this went on in a city park it would not be tolerated.

    Any owner or renter along False Creek – even those paying cheap rent like me- would be justifiably pissed off.

    “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.”

    Hot debate. What do you think? Thumb up 18 Thumb down 2

    Democrass Says:
    22

    “That’s white people for you…”

    Black people too:

    “A poor man chains himself” Kenyan proverb

    Like or Dislike: Thumb up 4 Thumb down 0

    Bag it and tag it Says:
    23

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

    Hot debate. What do you think? Thumb up 24 Thumb down 5

    Anonymous Says:
    24

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

    Poorly-rated. Like or Dislike: Thumb up 2 Thumb down 18

    Groundhog Says:
    25

    “2001 price level? hahaha silly bear!”

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

    Hot debate. What do you think? Thumb up 16 Thumb down 3

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

    Poorly-rated. Like or Dislike: Thumb up 0 Thumb down 11

    @Groundhog Says:
    27

    When do you think we’ll hit the 2001 + inflation price level? Any idea?

    Like or Dislike: Thumb up 3 Thumb down 2

    Burbs Boy Says:
    28

    Goober Says: “Blacks are poor”

    hmmmmm, might want to check and make sure that you aren’t over generalizing just a wee bit there. Poor natives (see any of the ramshackle reserves around this province), poor white people (see DTES, Walley, Langley City), poor Asians (I work with people who are raising a familiy on a 12$/hour job), poor East Indians (same again)… there is poverty “a plenty” to go around. All over NA there are areas that contain all ethnic backgrounds and are mired in poverty. Ethnicity is not the problem… inequality is.

    Hot debate. What do you think? Thumb up 19 Thumb down 5

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    Groundhog Says:
    30

    @@Groundhog

    I don’t know if we will, but based on financial history I wouldn’t say it was silly. Japanese prices are back to 1982 nominal levels, US are back to 1998 real prices (see below).

    Posted today on the US
    “In nominal terms, home prices are about where they were in mid-2003. In “real” inflation adjusted terms, this time using the CPI and PCE (personal consumption expenditures) as a measure of inflation, home prices are about where they were in mid-1998.”

    http://globaleconomicanalysis.blogspot.ca/

    Like or Dislike: Thumb up 8 Thumb down 0

    “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.”

    I’d prefer to say total debt (either private or public or both) in an economy has to keep increasing at an exponential rate for any debt based currency. It’s pretty simple actually, when the bank gives you a loan it creates the money for the loan amount only injecting it into the economy it does not create the money to pay back the interest on the same loan.

    Hence there will always be a need for more money in any economy allowing interest bearing debt backed issue of money. When the growth of debt in such a currency is falling then there will be problems…

    Like or Dislike: Thumb up 8 Thumb down 1

    Anonymous Says:
    32

    I agree with Burbs Boy that there is a lot of poverty to go around. Blacks do not have a monopoly on poverty (and some black people are actually quite rich)

    Randy accuses Burbs Boy of being politically correct. Actually, it’s not all that politically correct to talk about white poor people and to de-couple class from race (which is what Burbs Boy does with his comment that it’s not race, it’s inequality).

    The politically correct people would say race and class are linked and that white people have privilege and that inequality is more closely linked to race than class.

    Hot debate. What do you think? Thumb up 11 Thumb down 3

    This is so profound!
    http://www.youtube.com/watch?v=VV_v5HV9mtI (from BigThink)
    Number 1 on my certainty list is that housing prices in Vancouver will go down.

    Like or Dislike: Thumb up 3 Thumb down 0

    Many Franks Says:
    34

    From the no-shit-Sherlock department:

    “I think 2013 is going to be a transition year into 2014 and 2015 when we are finally going to see the global economy start to post more regular performance,” said Cameron Muir, BCREA chief economist [wiping an unidentified brown substance from his lips and chin].

    Even Somerville calls Muir out, though in the very blandest of terms:

    “In general, BCREA is going to tend to be more optimistic than perhaps one of the banks might be.”

    Another way of phrasing that more directly might be “BCREA is forecasting poorly because they have a vested interest.”

    Hot debate. What do you think? Thumb up 14 Thumb down 0

    Alexey #33

    While you and I and most others are certain that housing prices in Vancouver will go down, one certainty that nobody can dispute (including Muir and Tsur) is DEMOGRAPHICS. The biggest phenomena in a couple of centuries is the boomer thing…folks needing to downsize as they get old, and creating excess supply as they die.

    Hot debate. What do you think? Thumb up 12 Thumb down 0

    Vote Down The Facts Says:
    36

    Groundhog, I gotta get me some of those 1998 dollars!

    Like or Dislike: Thumb up 0 Thumb down 2

    Clockbike Clockbike Says:
    37

    Time for some comedy for those who haven’t seen it:
    http://i.imgur.com/mws5MjV.jpg
    and
    http://youtu.be/5ER0Tn0jV7w

    Like or Dislike: Thumb up 8 Thumb down 1

    patriotz patriotz Says:
    38

    “Groundhog, I gotta get me some of those 1998 dollars!”

    You can make your own – just stack a loonie, a quarter, a nickel, and three cents.

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

    Bag it and tag it Says:
    39

    34 Many Franks
    Another episode of the Sewer and M-an-uir show!

    Like or Dislike: Thumb up 7 Thumb down 1

    Democrass Says:
    40

    “While you and I and most others are certain that housing prices in Vancouver will go down, one certainty that nobody can dispute (including Muir and Tsur) is DEMOGRAPHICS.”

    Why can’t the government open the immigration flood gates to counter any threat posed by Boomer retirements?

    We are not talking about a closed system here. The stroke of a legislators pen will fix any demographic problem – as long as Canada remains one of the world’s richest countries with a generous social wellfare system.

    Hot debate. What do you think? Thumb up 6 Thumb down 10

    wakie waikie Says:
    41

    An Observer #3

    Same thing in North Van. Don’t have any stats, but pretty sure nothing over $2 mil has sold this year.
    Gonna see blowout price reductions in a couple of months.

    Like or Dislike: Thumb up 7 Thumb down 0

    patriotz patriotz Says:
    42

    “Why can’t the government open the immigration flood gates to counter any threat to the RE market posed by Boomer retirements? ”

    Maybe because there aren’t enough good paying jobs for young people as it is? An immigrant working at Starbucks isn’t going to be able to buy any more than his locally born workmate.

    Hot debate. What do you think? Thumb up 21 Thumb down 3

    any opinion on RIMM ($13 something)…are we going to see $6 before we see $20 again?

    Hot debate. What do you think? Thumb up 3 Thumb down 9

    midnite toker midnite toker Says:
    44

    You’ll have plenty of time for doobie rolling, when you’re living in a van down by the (Fraser) river!!

    Like or Dislike: Thumb up 7 Thumb down 1

    Anonymoose Says:
    45

    Over in the Abbotsford, Mission, Maple Ridge area there is a RE agent/celebrity by the name of Mindy McPherson. She has plastered her ugly mug on a few large billboards in Abby and on Lougheed by Silver Lake. I noticed tonight her billboard has changed, and at top in big letters is says “BUY NOW!!!!!” with below “Why wait for prices to go up!!!”. It screams desperation. I know next to nothing about her, but in the limited amount of driving I have done in Mission I have seen her name associated with a number of projects that look to be in distress and I suspect she has a lot of skin in the game, thus a lot to lose in this downturn.

    Hot debate. What do you think? Thumb up 16 Thumb down 0

    Anonymoose Says:
    46

    “any opinion on RIMM ($13 something)…are we going to see $6 before we see $20 again?”

    Are you serious? In two years it will be a penny stock and nobody will be seeking RIM jobs. They are the next Palm (remember them?).

    Hot debate. What do you think? Thumb up 6 Thumb down 11

    Groundhog Says:
    47

    I don’t know anything about RIM but there’s this new smartphone company, ticker symbol BBRY, that’s going to revolutionize the market.:)

    Hot debate. What do you think? Thumb up 10 Thumb down 7

    @addair Says:

    The biggest phenomena in a couple of centuries is the boomer thing…folks needing to downsize as they get old, and creating excess supply as they die.

    Don’t we supposed to keep replacing them with rich Chinese on regular basis to keep RE market and demographics in balance?

    Like or Dislike: Thumb up 7 Thumb down 2

    New Listings 200
    Price Changes 84
    Sold Listings 77
    TI:14166

    http://www.paulboenisch.com

    Well-loved. Like or Dislike: Thumb up 99 Thumb down 0

    RealityCheck Says:
    50

    Demographic time bomb..?

    I agree Immigration can fix that…with a stroke of a pen…Overnight if they wanted to.

    Increase from 280,000 to 500,000.

    No wha do you think the gov will do if there is a RE crash?

    Like or Dislike: Thumb up 1 Thumb down 7

    Woah! You guys got to listen to CTV news right now!

    Like or Dislike: Thumb up 5 Thumb down 3

    CTV News Tamara Taggart just announced that real estate sales will increase in 2013 and the bubble is not bursting. They said sky high prices are here to stay!

    Well-loved. Like or Dislike: Thumb up 37 Thumb down 2

    Total days	22
    Days elapsed so far	21
    Weekends / holidays	9
    Days missing	0
    Days remaining	1
    7 Day Moving Average: Sales	78
    7 Day Moving Average: Listings	218
    SALES	
    Sales so far	1310
    Projection for rest of month (using 7day MA)	78
    Projected month end total	1388
    NEW LISTINGS	
    Listings so far	4919
    Projection for rest of month (using 7day MA)	218
    Projected month end total	5137
    Sell-list so far	26.6%
    Projected month-end sell-list	27.0%
    MONTHS OF INVENTORY	
    Inventory as of Jan 30, 2013	14166
    MoI at this sales pace	10.20
    

    Well-loved. Like or Dislike: Thumb up 40 Thumb down 0

    With 229 listings or more tomorrow, we’ll have the 2nd highest new listing total for January over the last 13 years.

    Combine that with the 3rd lowest sales in 13 years, and I think we have to score January for the bears. No apocalypse, just drip drip drip….

    year	sell	list	sell/list
    2001	1225	3395	36.1%
    2002	2248	3626	62.0%
    2003	1966	3810	51.6%
    2004	1954	3039	64.3%
    2005	1697	3360	50.5%
    2006	1924	3471	55.4%
    2007	1806	4067	44.4%
    2008	1819	4675	38.9%
    2009	762	3700	20.6%
    2010	1923	5147	37.4%
    2011	1819	4801	37.9%
    2012	1577	5756	27.4%
    Mean	1727	4071	42.4%
    median	1819	3755	47.5%
    

    Well-loved. Like or Dislike: Thumb up 46 Thumb down 0

    Immigration can fix population, but can it fix tax revenues? We have all heard about those low-income people who paid cash for their van-west residences and claimed govt benefits

    Hot debate. What do you think? Thumb up 21 Thumb down 2

    Boombust Says:
    56

    “Don’t we supposed to keep replacing them with rich Chinese on regular basis to keep RE market and demographics in balance?”

    You’re kidding me, right?

    WHERE did you get your ejukashun?

    Like or Dislike: Thumb up 3 Thumb down 4

    How to spin RE news:
    Today I got an email from one of the developments in Surrey I have been watching.
    They said they had a “Meet the builder event” last weekend. They had a great turnout and and thanks to awesome presentations and “interactive displays” seven guests found their new home right there.
    So, since they did not say they have sold seven homes, is it safe to assume that it was one family of seven who bought, or was it perhaps a couple with 3 kids as well as a professional couple who signed a contract?
    Or maybe it was two adults, three kids, a dog and a cat?
    Anyway, I hope those poor souls get their mortgage approved so they can enjoy a lifetime of financial slavery in all its glory.
    But I wouldn’t bet on it.

    Hot debate. What do you think? Thumb up 18 Thumb down 0

    RaggedyRenter RaggedyRenter Says:
    58

    We pretty much have our news made for the first half of the year:
    January: low sales due to overly bad news by national mass media and excitement over new hockey season, but February will see a jump due to Chinese New Year
    February: low sales due to Year of the Snakes and RRSP season, but March we will see the market roaring back because there are some deals to be had
    March: low sales because people are waiting for HST to be repealed, but in April we will see sales jump due to lower tax
    April: low sales due of uncertainty over the next provincial government, but in May we will see sales jump after the election
    May: low sales because people are busy with the provincial election, but in June we will see sales skyrocket now since it is the prime buying season.
    June: low sales because people have negative economy outlook with NDP in power, but in July…

    Well-loved. Like or Dislike: Thumb up 63 Thumb down 1

    Romeo Jordan Says:
    59

    this stinking faces of a RE market will stink up this city…

    I’d like to frack tamara, but that’s another story…she’s paid to read the drivel on her screen. that drivel is paid for by the advertisers…news is just filler for the tracking hype machine.

    that said, from the whispers from the alleyways, I know this goose is good and cooked.

    just waiting for my 500 listing day. bring it.

    Hot debate. What do you think? Thumb up 20 Thumb down 9

    kabloona kabloona Says:
    60

    #52 – Q Says:

    CTV News Tamara Taggart just announced that real estate sales will increase in 2013 and the bubble is not bursting. They said sky high prices are here to stay!

    ******************

    Oh, thank GAWD!!!! I was worried there for awhile, watching inventory climb and sales figures slump, but the bubble-headed bleach-blonde just set me straight…..

    Whew!!

    ;-)

    Well-loved. Like or Dislike: Thumb up 29 Thumb down 2

    Anyone know how’s sales going at the Solo District Burnaby? I know of a couple different young virgins who bought on launch day…I tried to warn them sayingthere will be many for sale once it completes both told me it’s a good investment banking on prices going up up up

    Like or Dislike: Thumb up 4 Thumb down 1

    Anonymous Says:
    62

    Does anyone actually watch supper-hour news any more?

    Hot debate. What do you think? Thumb up 12 Thumb down 0

    Harry Wang Says:
    63

    here’s the CTV story: http://bc.ctvnews.ca/video?playlistId=1.1137076

    Like or Dislike: Thumb up 7 Thumb down 0

    Re #61

    “Anyone know how’s sales going at the Solo District Burnaby?”

    I recall an anecdote here yesterday saying sales were quite bad

    Like or Dislike: Thumb up 3 Thumb down 0

    “As you can see, these stats are indicative of the anticipated improvement in our housing market, going forward as we edge into the close of our first month of 2013.

    However, as we continue to move upward, it will remain a slow process, with sales statistics rising inch by perilous inch.” — Rob Chipman

    http://www.robchipman.net/2013/01/30/january-30-2013-vancouver-real-estate-sales-statistics

    hahahah. He had one day with sell/list over 30% and out comes the bullish commentary.

    Hot debate. What do you think? Thumb up 10 Thumb down 0

    That CTV clip is hilarious.

    First off, I like the footer below the video predicting that the Vancouver bubble will remain intact. Doesn’t that mean they’re admitting we’re in one?

    Then there’s the 1-bed condo in what looks like Kits (West Broadway ish near Alma). Used to be asking 465K and now down to 439K. Uh huh. A friend sold a far more central 1-bed condo at Arbutus Walk about 18 months ago for 419K. So we’re still 20 big ones above the market–last year. But never mind. The agent “feels” a sale is imminent. Hot tip for the realtor: maybe get someone to remove the graffiti off the back of the building just under the gorgeous south-facing balcony.

    But why has the realtors spidey senses been piqued? Maybe it’s because “phones are ringing, there’s optimism, and it feels like we’re back into selling real estate again”. AKA: Spring. Listings. Calls.

    Then comes the Onni guys. The first one, glassy-eyed, stands in his empty showroom talking about a lot of activity in the sales centres resulting in a lot of people entering into contracts signing, signing, signing. Well? Where are they?

    I also liked those two middle aged Asian men in the same empty showroom looking to buy a condo together. It’s not every day that you see gay, middle-aged, Chinese dudes coming out loud and proud to CTV. Unless of course, they’re just buddies who love real estate shopping for their wives. Or unless-unless, they’re bored agents from the back room dressed up as buyers? Nah! It looked like love and commitment to me.

    But don’t worry folks. Prices are expected to dip 1% province-wide (no mention of the already 40% decline in some areas of the province like the interior and Whistler) and only 2%-5% in metro Vancouver. Whew!

    Don’t believe us? Let’s trot out a Chinese agent from, gosh golly, Onni again. And if you care to notice he’s standing in front of Central 1–the home of Helmut Pastrick, where there are absolutely no Onni projects currently going up. WTF is that guy doing being interviewed there anyway?

    Any-who… this guy is the obvious expert on the foreign market because he can tell you the exact opposite of what Larry Yatowsky’s realtor survey showed us, that YVR is a destination for a lot of international buyers. That’s the only truthful but anachronistic statement in the whole piece.

    Then the news guy, who never asked a question in the whole piece, summarizes that the experts agree that high prices in metro van are here to say. Thanks for the laugh News Guy!

    Well-loved. Like or Dislike: Thumb up 49 Thumb down 2

    No Noise Says:
    67

    @40 Democrass

    “..as long as Canada remains one of the world’s richest countries with a generous social wellfare system”

    Because Canada has brought in so many rich foreign speculators with satellite families who drive RE sky high and pay no income tax yet use our health care and education forcing locals to go into massive debt to compete, Canada wont be a wealthy country with generous welfare system soon – the social system is already crumbling and underwater and after Canada’s RE crash CMHC will face a massive bill which will add to our debt – not to mention the imminent job losses spreading through FIRE etc etc. look at all the consolidation and places out of biz already..

    Like or Dislike: Thumb up 8 Thumb down 1

    Who’s watching CTV? Who’s going to beleive them? Why they don’t have comments section on their website to tell them how stupid this advertisement block pretending to be “news” is?

    Like or Dislike: Thumb up 5 Thumb down 0

    Anonymous Says:
    69

    Living in Van faces the immanent threat of Sino-Insanity,House speculation,unruly social behavior and soon future acute shortage of baby milk and Food.

    Like or Dislike: Thumb up 0 Thumb down 1

    Sunshine 123 Says:
    70

    to Anonymous Says:
    Hey anonymous, you are so brave in making a racist comment so be sure to stay Anonymous under your white pillow case…

    Like or Dislike: Thumb up 0 Thumb down 1

    Sunshine 123 Says:
    71

    to No Noise
    I just love theses dumb rednecks like No Noise on this site making comments like “foreigners driving up RE”…
    How do you survive in multi-cultural city like Vancouver? Wait a minute, rednecks like No Noise are too busy lynching minorities to know that we are all part of the issue of unaffortability. I can simplify this for you, No Brains I mean No Noise…

    Like or Dislike: Thumb up 0 Thumb down 2

    […] Optimistic -Borrowing back to troubling levels -Experts predict bubble will remain -Summary of that video -Sorry about the sex -Buy a house now? -Construction price fixing? -Stratify more basements! -Bye […]

    Like or Dislike: Thumb up 0 Thumb down 0

    […] predict B.C. real estate bubble will remain intact’. mac at vancouvercondo.info [31 jan 2013 12:17am] posted a commentary, excerpts […]

    Like or Dislike: Thumb up 1 Thumb down 0

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