Cube Living Showroom – invest in property 1 cubic foot at a time

Readers of this blog may recall a story in July about Cube Living, an opportunity to invest in real estate 1 cubic foot at a time. This caught our attention when it stood out as a clever tongue-in-cheek submission to the city’s ReThink Housing competition.

One of the people behind the project has now launched Phase 2 by opening the CUBE Showroom where you can apparently purchase a cube of your own. Operating out of the 221a Gallery at 221 E Georgia, the showroom will be open from 1-6pm from February 19th to the 23rd. Act fast though, according to the Gallery’s website presales are hot.

There’s been unexpected volume of pre-sales over the weekend and the development is now 66% sold out—but don’t worry, we’re holding back some units to ensure there’s a reasonable supply still available when the sales centre opens on Tuesday.

You can find more information about the project at 221a’s website. There will be a talk by designer and artist Alex Grünenfelder on Wednesday, February 20th at 8pm and a closing reception on Saturday, February 23rd at 8pm.

On February 19 Grünenfelder will begin a limited release of micro-properties measuring 1 cubic foot. This innovative product addresses the stagnation and endemic unaffordability of Vancouver’s real estate market. In developing a spatial commodity that can be purchased in very small units, Cube Living is able to offer affordable properties at prices under $50! Micro-properties are an accessible solution to the inflated real estate market crisis that threatens to push Vancouver’s economy into decline.

66 Responses to “Cube Living Showroom – invest in property 1 cubic foot at a time”

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    There was also an article about the project in the Tyee yesterday. I just saw a cube that a friend bought last night, along with the lengthy contract he had to sign detailing all of the terms and conditions. He had #28 of Phase 2 and paid $28 for it. The one after that sold for $29, and so on. He’s already feeling richer knowing that the increased media attention is going to keep driving sales over the next few days.

    The market has nowhere to go but up, they aren’t making more space. Get in now or be priced out forever!

    Hot debate. What do you think? Thumb up 19 Thumb down 0

    Please don’t give them any more ideas. We should have all learned that sarcasm is only one step away from being reality. I don’t read The Onion anymore. It’s just too painful to contemplate.

    Like or Dislike: Thumb up 7 Thumb down 0

    He’s baaack…
    Former Vancouver mayor Sam Sullivan back in politics with B.C Liberal nomination

    “Not one taxpayer has paid one dollar for the Olympic village,” he said. “And they never will.”

    http://www.nytimes.com/2010/01/31/sports/olympics/31sullivan.html?pagewanted=all&_r=0

    Well-loved. Like or Dislike: Thumb up 23 Thumb down 2

    Should you postpone buying a house?

    Larry moves further into fantasy writing. As usual, the comments are the best part.

    Well-loved. Like or Dislike: Thumb up 20 Thumb down 0

    Anonymous Says:
    5

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

    Poorly-rated. Like or Dislike: Thumb up 2 Thumb down 28

    Anon5: uh that’s not bear logic is it? It’s bull logic.

    You’re not the sharpest bulb in the sea are you?

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

    I wonder if Rennie has been by the show room yet. It’s difficult to think of someone more interested in art and real estate than he.

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

    Democrass Says:
    8

    Just want to remind everyone that The Governor of the Bank of Canada said that real estate prices will fall for the next couple of years.

    I know all you realtors will say and do anything to make a sale, even bring out fake buyers to fraud the TV audience into buying a house. But why would anyone in their right mind buy in the next two years? Do yourselves and everyone else a favour – go backpaking around Europe and Asia for a couple of years and then come back and sell me a house when prices are down at least 35%.

    Well-loved. Like or Dislike: Thumb up 47 Thumb down 1

    Short'em High Says:
    9

    @G&M Larry Macdonald “Not Postponing”

    E I E I, oh!!!!

    From the comments:

    only buy what you can afford to lose

    …then have a guaranteed loss equal to the entire mortgage because there is no way to limit risk to just the downpayment when your property goes no-bid and your no-talent overpaid ass is thrown out of the “shovel ready” make-work job that was only possible because of central bank money printing.

    Hot debate. What do you think? Thumb up 13 Thumb down 1

    Patiently Waiting Says:
    10

    It begins…

    http://www.nsnews.com/news/Blaze+leaves+home+ruin/7989638/story.html

    West Van view home gutted by fire. Nobody was home. Was it occupied at all?

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

    patriotz patriotz Says:
    11

    The loonie’s sinking like a stone. Here’s why

    If investors stop seeing CAD fixed income as safe, what happens?

    Hot debate. What do you think? Thumb up 13 Thumb down 1

    Many Franks Says:
    12

    CIBC is claiming that Canadians have suddenly discovered prudence — it was there behind the couch the whole time:

    “I think that this report is showing that Canadians are starting to show some…financial maturity,” Mr. Tal said. “They have no motivation to reduce credit. They are not losing their jobs, interest rates have not risen. They can continue to borrow and they are not,” he said.

    There is no justification for that string of inventions.The only numbers he quotes are:

    In November of last year, consumer credit outstanding rose by only 2.7% on a year-over-year basis, the slowest pace since 1993, the report said.

    …which in comparison to this report looks like a cherry-picked outlier in Q4, and…

    The trend in borrowing related directly to Canada’s wobbly housing market is also encouraging, with total mortgages outstanding growing by 5.6% in November on a yearly basis, the slowest pace in more than 11 years.

    Still an unsustainable number, and no mention of regulatory changes — nope, it’s purely voluntary. Right, Ben.

    But wait for the big conclusion! It’s a doozie:

    The CIBC report says credit growth accelerated a bit in recent months, but a closer look suggests most of this improvement was due to a strong performance in auto loans.

    In view of their overall financial discipline recently, at least according to this report, maybe the country’s economic kingpins won’t begrudge Canadians a shiny new car.

    Well-loved. Like or Dislike: Thumb up 28 Thumb down 0

    /dev/null Says:
    13

    @Patiently Waiting: was the house for sale? There are a few listed properties right at that spot I think. There was also a suite for rent nearby (http://vancouver.en.craigslist.ca/nvn/apa/3610786523.html). Wonder if it’s the same place.

    Like or Dislike: Thumb up 0 Thumb down 1

    Short'em High Says:
    14

    …investors stop seeing CAD fixed income as safe, what happens?

    Ummm…, they keep buying fixed income and yield stocks on the dip until they suddenly gap down and totally wipe out their accounts?

    Personally, I wish there was less talk about this particular trade that I piled into a few weeks ago. 2 cents on $2M is only $40K so far. Ideally, those that are funding my gain will be notified only after 10-15 cents of CAD decline

    AND exactly at the moment when the mainstream media informs them that their house was actually worth significantly less than they paid when they bought it

    AND that they are likely going to have a cut in pay if they keep their job at all.

    Hot debate. What do you think? Thumb up 10 Thumb down 2

    painted turtle Says:
    15

    MLS® V985387
    758 31st av E
    Jan 12/13 $889,000
    Sold Feb 6 $795,000

    They say what happens during Chinese New Year defines the trend for the next 12 months…

    Well-loved. Like or Dislike: Thumb up 44 Thumb down 1

    Rona to cut 200 full-time administration jobs as Q4 results underwhelm

    “”We are facing short-term headwinds in our industry with key indicators trending downward but the fundamentals of the renovation and construction industry remain robust,” Boies said.”

    - short-term… right..

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

    Groundhog Says:
    17

    @VMD

    Rona, Best Buy…. Is the downturn nearing the vicious circle phase?

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

    MLS® V985387
    758 31st av E
    Jan 12/13 $889,000
    Sold Feb 6 $795,000

    They say what happens during Chinese New Year defines the trend for the next 12 months…

    ————————-

    Over 10% off of list price. I like that trend!

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

    “Rona, Best Buy…. Is the downturn nearing the vicious circle phase?”

    It wasn’t really difficult to see the massive overbuilding in commercial real estate.

    Maybe we’ll see less cars on the road. The commute yesterday was brutal!

    Like or Dislike: Thumb up 5 Thumb down 0

    Short'em High Says:
    20

    …Rona, Best Buy… vicious circle…

    NO, NO, NO! What he said. More of that: Short-term, don’t worry, it always comes back… etc.

    You guys, for shame! Stop spooking the herd before they are coralled at the slaughter chute!

    Wait at least until I’ve doubled the $50K I allocated to finance my $2M short CAD position. You’d think people would wait to talk about it until at least a 4 cent drop where it went a few months ago.

    Hot debate. What do you think? Thumb up 15 Thumb down 8

    Inventory is now at the highest point it has been in the last 8 years for this time of year.

    http://vancouverpeak.com/Thread-Inventory-Graphs?pid=503#pid503

    Over the last 30 days the average daily increase was:
    59
    At this rate we would reach 16,000 in 11 days (Mar-04-13)
    At this rate we would reach 20,000 in 79 days (May-10-13)
    and 25,000 by August 3rd.
    Thanks PaulB for the numbers!

    Well-loved. Like or Dislike: Thumb up 81 Thumb down 0

    oneangryslav2 Says:
    22

    “In view of their overall financial discipline recently, at least according to this report, maybe the country’s economic kingpins won’t begrudge Canadians a shiny new car.

    There is just so much fail here that it’s hard to know where to begin. This should be the epigraph to a book written about the era of Canadian (and global) political economy.

    Hot debate. What do you think? Thumb up 13 Thumb down 0

    Short'em High Says:
    23

    Consumer discretionary firms went first.

    Canadian Tire Reports Increased Revenue

    Canadian Tire Corp. Ltd. (TSX:CTC) has reported a small increase in fourth-quarter revenue, but also an almost two per cent drop in net profit in the final three months of the year.

    Forget that last part about the net profit trend. It is obviously a misprint by a drunk reporter. Just remember the first part about higher revenues and buy buy buy! Bank stocks should be good too. They’re all good. Any negative stuff is just put there to confuse investors. Buy a second house in Vancouver and then use HELOC equity on that one to buy these great stocks. Even Tim Hortons is so confident they are actually raising their dividend despite missing their earnings target.

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

    Bull! Bull! Bull! Says:
    24

    b5baxter, you are on my nice poster list.

    Hot debate. What do you think? Thumb up 6 Thumb down 4

    Just found this nice data depot at UBC Sauder School of Business website

    (including up-to-date nominal vs real house prices by city up to 2012)

    http://www.sauder.ubc.ca/Faculty/Research_Centres/Centre_for_Urban_Economics_and_Real_Estate/Canadian_Cities_Housing_and_Real_Estate_Data

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

    real_professional Says:
    26

    Great chart – I see inventory peaking at 21K easy

    Yes @VMD – that data source was especially great when CANSIM wasn’t free. It is still good since everything is cleaned and put together neatly. Some of the underlying data elements are more frequent than reported by the UBC tables however.

    Like or Dislike: Thumb up 7 Thumb down 0

    @real_professional
    agreed. I came across that graph database while searching for the old “real vs nominal Van home price graph”. Last time I saw it it was only up to 2007, now they have extended the graph to cover up to 2012.

    Speaking of graphs, can anyone recommend a good graphing/spreadsheet software other than google & excel? (with good customization options for graphs) thx!

    Like or Dislike: Thumb up 2 Thumb down 0

    space889 Says:
    29

    I don’t get it, how does this lower cost of RE? It’s not like you can actually live in 100 cubic sq ft or 1/5 of a condo? What if someone bought all the cubes for the bathroom in the condo while you bought the rest and wouldn’t let you use the bathrooms without paying a huge fee? How is that going to work? Or will the developer hold the cubes you can’t afford and you have to buy it from them 1 cube at a time using new mortgage while paying a rental fee? How will mortgage work when you can only buy say 40% of the cubes in a unit??

    Lastly I hope the occupants of this cube scheme will last longer than these cube living pioneers – also of Canadian ingenuity:
    http://www.imdb.com/title/tt0123755/?ref_=sr_2

    Hot debate. What do you think? Thumb up 4 Thumb down 11

    Short'em High Says:
    30

    @VMD Graph/Plot Software:

    http://www.gnuplot.info/

    http://www.r-project.org/

    @spaced889:

    Try the graphic on the artist’s site for more clues…

    http://221a.ca/wp-content/uploads/2013/01/henry-george-fay-lewis.png

    Like or Dislike: Thumb up 2 Thumb down 1

    New Listings 217
    Price Changes 77
    Sold Listings 70
    TI:15451

    http://www.paulboenisch.com

    Well-loved. Like or Dislike: Thumb up 134 Thumb down 0

    Just a year ago this Hollywood home had the same price as this Kerrisdale home

    Like or Dislike: Thumb up 5 Thumb down 2

    70 listings?
    Looks like the big buying rush didn’t last more than a week.

    Like or Dislike: Thumb up 8 Thumb down 0

    ReadyToPop Says:
    34

    Mr. Carney could face a decision many Canadians have in light of tougher borrowing conditions — namely is it better to rent or buy based on the current market.

    Mark Carney’s $400K yearly housing allowance might not go very far in London

    Like or Dislike: Thumb up 5 Thumb down 0

    Total days	19
    Days elapsed so far	14
    Weekends / holidays	7
    Days missing	0
    Days remaining	5
    7 Day Moving Average: Sales	96
    7 Day Moving Average: Listings	244
    SALES	
    Sales so far	1330
    Projection for rest of month (using 7day MA)	482
    Projected month end total	1812
    NEW LISTINGS	
    Listings so far	3760
    Projection for rest of month (using 7day MA)	1221
    Projected month end total	4981
    Sell-list so far	35.4%
    Projected month-end sell-list	36.4%
    MONTHS OF INVENTORY	
    Inventory as of Feb 21st, 2013	15451
    MoI at this sales pace	8.53
    

    Well-loved. Like or Dislike: Thumb up 43 Thumb down 0

    Predicting 16K party this month!

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

    Don't make eye contact Says:
    37

    “Looks like the big buying rush didn’t last more than a week.”

    Yes. And it was a very small buying rush.

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

    Guy Smiley Guy Smiley Says:
    38

    @b5baxter…

    Inventory is now at the highest point it has been in the last 8 years for this time of year.

    Would that also make it the highest point it has been for this time of year in the last 1000 years?

    Hot debate. What do you think? Thumb up 20 Thumb down 1

    Short'em High Says:
    39

    Another reason not to overpay. eg: Figure out the rent value bid and then knock off another 1-2% for every year since completion.

    CBC: Buyers left with big bills when home inspectors miss defects

    Comments section has the horror stories and why home inspectors aren’t really qualifed to provide a sound opinion on every property.

    Like or Dislike: Thumb up 5 Thumb down 1

    Short'em High Says:
    40

    @VMD …recommend a good graphing/spreadsheet software…

    http://gnuplot.info/

    Like or Dislike: Thumb up 4 Thumb down 2

    New listings per day:
    Feb 2013: 269 (+15% MoM)(+2% YoY)
    Jan 2013: 233 (-15% YoY)

    Feb 2012: 264 (-4% MoM)
    Jan 2012: 274

    We went from last month’s poor new listings (-15% YoY) to this month’s nice reversal @ +15% MoM & +2% YoY.

    Almost looks like people were holding out until Chinese New Year to list their houses…

    Well-loved. Like or Dislike: Thumb up 29 Thumb down 0

    Anonymous Says:
    42

    Short’em High Says: “Comments section has the horror stories and why home inspectors aren’t really qualifed to provide a sound opinion on every property.”

    What did this lady think she was getting when she bought the POS house? You can tell by looking at it that it is a POS before stepping inside. I also don’t get how people think a $500 inspection will detect every problem with a old house and they should have some recourse where the inspector should pay for any defects they do not document. On a house like that you could spend 2 days finding and documenting defects. If you wanted a guarantee the house was perfect she would be spending $5000 not $500 and would quickly find out all houses in the 750K range in Vancouver are basically tare downs. A house like this should sell for about 200K.

    Hot debate. What do you think? Thumb up 9 Thumb down 1

    Short'em High Says:
    43

    @VMD: Did they wait for CNY to list?

    According to Wikipedia, CNY’s last day (15 days) of festivities this year is Feb 25, next week.

    http://en.wikipedia.org/wiki/Chinese_New_Year

    It would be interesting to know exactly what memo, cattle prod voltage, or event caused these ones to wake up and list. Two more possibilities: Teranet released a very negative headline and the dollar depreciated considerably.

    Like or Dislike: Thumb up 2 Thumb down 1

    Anonymous Says:
    44

    ‘Senior manager resigns after real estate company employees caught posing as customers for TV’

    Looks like someone from MAC was sacrificed * forced resigned * to save their public image …

    http://www.theprovince.com/business/Senior+manager+resigns+after+real+estate+company+employees+caught+posing+customers/7999235/story.html#ixzz2LaoKaTab

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

    Short'em High Says:
    45

    @Anon#42 …all houses in the 750K range in Vancouver are basically tare downs…

    Does anyone have an opinion on the accuracy of the assessed building value? Given present inflated contruction costs, are the assessed building values too high?

    It would be interesting to model the cost of replacing the building when calculating the risk free rent equivalent price of the total property. A rental doesn’t have the risk of deficiencies, so subtracting the cost of contructing a new minimal building on the property could be used to model a risk free price rather than the off the cuff percent per year discount formula I suggested earlier.

    Like or Dislike: Thumb up 7 Thumb down 2

    ‘Senior manager resigns after real estate company employees caught posing as customers for TV’

    The manager probably enjoying EI now and waiting for a higher position when the issue cool down…

    Like or Dislike: Thumb up 8 Thumb down 1

    @Guy Smiley

    It may have been higher in 1998. I don’t have the data for that year (but I think someone else here might have it).

    Also maybe 1792….

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

    Anonymous Says:
    48

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

    Poorly-rated. Like or Dislike: Thumb up 1 Thumb down 22

    Boombust Says:
    49

    Aw, shut up.

    So pathetic.

    Like or Dislike: Thumb up 4 Thumb down 2

    Boombust Says:
    50

    CHIPMAN.

    Like or Dislike: Thumb up 3 Thumb down 1

    renters rule Says:
    51

    hahahaha @ desperate #48 Anonymous

    newsflash jack*ss… no one is moving here, in fact, many are bailing.

    This town is too expensive and there are NO high paying jobs here. This RE market is done done done. Stick a fork in us, we are so done.

    News flash, you need to find a new career that is NOT related to Vancouver area residential real estate.

    Well-loved. Like or Dislike: Thumb up 36 Thumb down 3

    real_professional Says:
    52

    @VMD

    The chart book was all done with excel. There are limitations of excel charts, but there are also add ins and macros that can be coded to get excel to do exactly what you want in most cases.

    http://pacificapartners.ca/blog/2012/12/08/canadian-real-estate-correction-chartbook/

    Like or Dislike: Thumb up 3 Thumb down 1

    Vote Down The Facts Says:
    53

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

    Poorly-rated. Like or Dislike: Thumb up 5 Thumb down 23

    She can afford to spend 750000 on a POS house and we’re supposed to feel sorry for her? 50 year old shacks will always need repairs.Yes the inspector was a doufus and should be held partially liable.Oh and shes a single parent,just like half the population in Vancouver(including myself),so what?She obviously took her ex “to the cleaners”and is doing well.

    Hot debate. What do you think? Thumb up 15 Thumb down 0

    Romeo Jordan Says:
    55

    watch for the line of demarcation at ten percent

    declines

    coming up soon

    within 75 days

    then what?

    it only gets worse

    we are already down 15%, the stats are bullshit

    but at ten percent the shitbowlers can’t claim buy now or be priced out forever anymore

    then what

    they can stick their head up their ass

    that’s what

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

    Anonymous Says:
    56

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

    Poorly-rated. Like or Dislike: Thumb up 0 Thumb down 12

    Short'em High Says:
    57

    @g …ex “to the cleaners”and is doing well…

    What goes around comes around. She obviously overpaid for the building and probably the land too.

    Generally though, this is interesting relative to the rent equivalent price of any SFH property. Judging by the downvotes, realtors are pretty touchy about buyers becoming aware that deducting the value of old buildings and construction costs is a valid way of preparing a bid offer on a SFH property. The sensitivity on this issue is even funnier than desperate pumper #48′s idea that a number that amounts to statistical error on the number people passing through town every week will want to buy his excess overpriced POS teardown SFH’s.

    Hot debate. What do you think? Thumb up 8 Thumb down 2

    It looks to be a horse race to 16000 listings by the end of February. Those are some great vancouverpeak graphs on inventory growth, it looks like 2012 redux so far, just a little bit worse. The double bite of lower demand (lower pop growth and tighter credit) and higher inventory is approaching what I would consider def-con 3.

    This is kind of like watching engineers doing tests to failure on aircraft wingspans. Is this market going to dramatically explode or just pathetically deflate like one of my souffles? My graphs are showing lots of disturbing stress concentrations…

    Hot debate. What do you think? Thumb up 13 Thumb down 0

    “Inventory is now at the highest point it has been in the last 8 years for this time of year.

    Would that also make it the highest point it has been for this time of year in the last 1000 years?”

    Ha ha hah haha ah aha aha hahah

    Nice one!

    Like or Dislike: Thumb up 2 Thumb down 0

    Incoming! CBC: Buyers left with big bills when home inspectors miss defects

    A CBC News investigation has discovered it’s almost impossible for homeowners to get compensation if something is missed during a home inspection, despite new regulations introduced by the B.C. government in 2009 requiring all home inspectors to be licenced and insured.

    Buyers like Lindsay Denton, a 39-year-old single mother, are finding out the hard way they have little recourse if they believe an inspector misses an obvious, visible defect. Complaints to the inspectors’ association might cost an inspector the loss of his or her license for a week, but financial settlements are only awarded through the courts.

    Denton was battling breast cancer when she bought a $750,000 home in East Vancouver after an inspector’s report found no structural defects.

    “It’s been a nightmare, like I wish I’d never set foot in this house. I just wanted a place to live,” Denton said…

    “I’ve borrowed $40,000 and I’ve spent more, and I’m looking for another $100,000 to fix my suite because it’s been 18 months without being rented.”

    Denton says she’s struggling to make her mortgage payments and is waiting for another inspector’s report to assess the defects allegedly missed in her home, a report which will go before a judge in her civil case.

    Um so… she want a “place to live”, buys a place for 750 large, then rents out a suite. Sounds like it was a bit more than a “place to live” after all. We’re all speculators now!

    Like or Dislike: Thumb up 7 Thumb down 0

    “Senior manager resigns after real estate company employees caught posing as customers for TV’

    Senior manager in a real estate company hmmmm…..what does a Sr. Manager do in in a real estate company?

    This guy was likely a marginal producer who hadn’t made a sale since June of last year and was on his way back to Canadian Tire.

    He was the sacrificial lamb.

    No one with a meaningful job resigned. What is this person’s name? What did he do? What were his responsibilities? How long had he been with the company?

    If it was a real person or a Sr. Manager MAC should have no issue answering the questions.

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

    “What is this person’s name? What did he do? What were his responsibilities? How long had he been with the company?”

    No worries. If MAC can create a fake buyer, it can as easily create a fake Sr manager.

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

    oneangryslav2 Says:
    63

    @42

    “A rental doesn’t have the risk of deficiencies, so subtracting the cost of contructing a new minimal building on the property could be used to model a risk free price rather than the off the cuff percent per year discount formula I suggested earlier.”

    I’ve been thinking along similar lines. Moreover, I would love to see the city eliminate nominal dollar values when doing assessments. Given that property tax is a function of relative value it doesn’t matter what the denomination is. Therefore, simply an index would suffice with the average (i.e. mean) assessed home taking the value 1000 with other homes taking higher or lower values.

    Like or Dislike: Thumb up 0 Thumb down 0

    oneangryslav2 Says:
    64

    @48 Paraphrasing: 1000 persons/week moving to greater Vancouver.

    Really?!? 52,000 a year are moving to the GVRD? Wow, are you out to lunch. As I mentioned in a thread a few days ago I have access to bits of some interesting new data that show some interesting things about the people of suburban Vancouver. One interesting data point is that the vacant rentals/vacant houses number is higher than it’s ever been. Landlords are freaking out about the increase in the vacancy rate, though these are institutional landlords and most of them haven’t purchased during the bubble.

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

    oneangryslav2 Says:
    65

    @62

    “No worries. If MAC can create a fake buyer, it can as easily create a fake Sr manager.”

    Bingo. Nobody at MAC has lost their job. I’ll bet the “reporters” who were made to look foolish upon the original story have bought this new story hook, line, and sinker.

    Here’s a thought: why doesn’t Matthew (or whatever his name is) from the CBC get off of his ass (and Facebook) long enough to actually do some investigative journalism. Ask the MAC boss for the name and contact info of the allegedly fired manager and interview him, promising to not release his or her name to the public.

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

    patriotz patriotz Says:
    66

    ” Moreover, I would love to see the city eliminate nominal dollar values when doing assessments.”

    That would remove transparency from assessments. Using estimated market price for an assessment gives the owner the opportunity to compare it to sale prices of other properties and other assessments and appeal if it looks out of line. And of course it allows prospective buyers and sellers to compare an ask or bid price against assessments.

    Also, the provincial government does assessments, not municipalities.

    Like or Dislike: Thumb up 1 Thumb down 0

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