Maybe because interest rates are starting to creep up and sellers think that this will motivate wannabe buyers who have locked into pre approved mortgages.

space1999: With kids and you don’t want to move school zones, it’s even harder. Yeah, you can say just sign a multi-year lease! But seriously, how many landlord go for that? Not that many. Without it, you can potentially be forced to move across school zones or into sub-optimal alternative housing choices when the lease is up and you have to move. Say what you want about owning, as long as you pay all the cost, you get to stay where you are. Not so with renting….if the landlord don’t like you, he doesn’t have to renew the lease, or really jack up the rent. With owning, you at least can lock in mortgage rates for 5 or even 10 years now and banks can’t kick you out as long as you are paying the mortgage. You sound like your… Read more »

@taylor192 in post 14 nailed it: mortgage brokers are passing along the news that interest rates are heading up and this is dragging fence-sitting suckers to buy now.

I recall this from prior melt-downs – interest rate increases cause a small bump in activity before things drop off.

But the bull psychology of Vancouver is so ingrained that only one thing will change it: foreclosures. Lots and lots of sad stories about foreclosures. Until that happens there seems to be enough fools around to keep this market from collapsing.

“my point is made”

You said 1-5 years. 2008 is 5 years ago. Your point is not made.
BTW they bought before the 2008 crash. If they bought in 2009 it would have been a better return.
I know it sucks but truth is most people are still in speculation mode and have gains on the table especially SFH. Condos I think are more grim but not carnage.

@Best place on meth

it’s hard to believe that some people are taken in by the impostor, but on the other hand, this board isn’t known for it’s rock solid analysis and reasoning abilities.

“E van house bought $550k incl. transaction costs in 2008, sold this year $680k incl. transaction costs.”

My point is made:

We have to go back 5 years as an example of someone who made money.

No one here is debating that 2004-2008 were good times to buy were:

2009, 2010, 2011, 2012?

I repeat again, virtually no one who bought a SFH in the last 2-3 yrs has made any money. 5 yrs for the people who bought condo’s.

I don’t know why the Bulls are gloating.

SHOW ME THE MONEY!

The single biggest trigger for me to leave Vancouver (soon!) will be the ever-increasing number of residents who choose not to speak english as their primary language and the detrimental effect that has on knowing your neighbours and feeling a sense of belonging to the community (and let’s not forget the bad service in stores/restaurants from difficulties crossing the language barrier).

Higher pay and cheaper housing are just a more politically correct bonus.

what is the main trigger for people to move out of Vancouver? For me it was better paid job. I am puzzled when people say it is the price of housing. You can always rent cheaper.

#58
AND YOUR BEGGING FOR A ASS WHOOP’N

Shriller:

As for the pecuniary, renting is exacting a psychological toll on some family members.

As a former owner I can tell you if are not happy renting you will not be happy owning. A house is just a house. The grass may seem greener but it isn’t. The ONLY reason to own in my opinion is because it is cheaper.

But it is not just housing prices/ownership that is making us move (which is what I was trying to say). Vancouver just doesn’t seem the best place for us to live right now.

But you said you were going to move back at some point. Are you expecting something to change?