FFFA! Rentals, Repairs, Indexes

Hey it’s the end of another work week!

And if you’ve been here before you know what that means: It’s Friday Free-for-all time!

This when we do our end of the week news round up and open topic discussion thread for the weekend, here are a few links to kick off the chat:

Why don’t you buy already?
Marketing! Buzzwords!
Record debt, but no worries
Include transportation costs
And maintenance costs
Toronto beats Vancouver in crazy?
Vancouver island buyer or seller market?

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

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Shiela
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Shiela

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Linette
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Linette

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Bear Vancouverite
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Bear Vancouverite
@George #201 “I can’t believe there are people on here (Patriotz, Bear Vancouverite) trying to argue that the Asian (I rarely use that term but I want to use it here–I literally mean people from Asia) proportion of Vancouver’s population has not changed much in 30 years and that it has always been high.” Both patriotz and I have said the proportion of Asians in the city have grown, where we disagree is by how much. My assertion was that 30 years ago (1984) the population is much smaller, and that schools had very few visible Chinese students. The Chinese population was coming in already in the early 80’s, but it accelerated in the late 80s, which is why Aberdeen center was built in 1989 – the first ever Chinese mall in Canada. I was there at its Grand Opening… Read more »
trackback

[…] Many Franks posted this in the comment section yesterday: […]

Guy Smiley
Member
Guy Smiley

Re: Yatter Matters showing the average detached home dropped over $150K this month compared to last month.

I bet we won’t see any articles mentioning that in the Sun. Probably some enlightening stats about a minor uptick in sales over last month or Mar 2013. And guaranteed, something about a ‘balanced market’.

space889
Member
space889

@chilled – the phone listed in the ad starts with 780 which is Edmonton area. Might be a fraud more than anything. I doubt they will fly over to Van to sign papers and hand over the keys.

space889
Member
space889

Vancity Poll shows BCer getting creative to finance home ownership including: 25% surveyed thinks about buying lotto tickets and 20% survey would get married or a common-law relationship if it meant able to buy a home!!

http://www.theprovince.com/homes/More+British+Columbians+resorting+creative+home+buying+ways+poll/9683696/story.html

Read it and weep/laugh/sigh/whatever.

UBC in crisis mode
Guest
UBC in crisis mode

New jobs open up for realtors and mortgage brokers:

http://www.zolo.ca/jobs

Happy Renter
Guest
Happy Renter

Boom 11% in 1 month

An Observer
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An Observer

Yatter Matters showing the average detached home dropped over $150K this month compared to last month.

Lifetime Renter
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Lifetime Renter
@George: “We have no language or familiar discourse to fall back on to help us understand a non-white immigrant group that is in the role of oppressive capitalist whose market actions cause harm to white non-immigrants.” Perhaps because it is a false discourse. Not all those buying high end real estate are non-white immigrants. Not all those speculating are Chinese. There is no investor apartheid when it comes to who is pumping up prices. We are talking about a social class, not a race. And those who have gained by far the most, who are the real ‘oppressive capitalists’ in regard to this are the owners of the real estate and development industries and the banks – mostly Canadian of European origin. In addition, open your eyes to who does the lower paying, hardest and least respected jobs in this… Read more »
UBC in crisis mode
Guest
UBC in crisis mode

It is Tuesday, no new topics?
The sales number of RE board will be out later than usual and very interesting.

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

NOT!

Bull! Bull! Bull!
Guest
Bull! Bull! Bull!

@chilled

“nothing under 1000$”, for 550 sq feet.

wow… much desperate… such cheap…

Science is Now Invalid
Guest
Science is Now Invalid
chilled
Member
chilled

http://vancouver.en.craigslist.ca/van/apa/4389131568.html

Ya gotta love these rental ads reeking of desperation but with a few amateur landlord type demands thrown in for the ‘things are NOT completely out of control’ effect.

Heard Herd selling
Guest
Heard Herd selling

Happy fool’s day to everyone who buys real estate today

Johnny-boy
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Johnny-boy

The Westside’s missing big sales have been replaced by some biggies in West Van. However…

I already said last week that I expect the average and the HPI to come be down for March. Lets see if I am right.

Heard Herd selling
Guest
Heard Herd selling

Larry, dances and prances when the chart shows new highs, those day’s are over:-)

VMD
Member

Larry is “bemused and bewildered” that there was no sales over $10M in March in Van West. “You have to wonder if all the big spenders have left town.”

He usually posts average price chart at end of month (ie tonight) which is bang on with official REBGV numbers a day or two later. It will be interesting to see if the (likely) weakness in Van West/West Van drags down SFH Avg.

George
Guest
George

@Lifetime Renter #257

PS: I upvoted you because your post was very good and I do agree with most of it.

George
Guest
George
@Lifetime Renter “Meanwhile the ruling class in this country will be quite happy to see people’s frustrations aimed at immigrants. It is always easier to target those with less power than to confront the most powerful forces in society who also happen to be the true cause of our problems. There is no future in that approach.” I agree with you that our troubles are the result of government policy. Government policy is what has created this bubble–that includes economic policy and immigration policy. We need to be able to voice criticism of both economic and immigration policy. If government policies are going to change and if Canadians are going to have an effective representative democracy then we need to be able to have an environment that is open to public discourse and where we can at least explore the… Read more »
Lifetime Renter
Guest
Lifetime Renter
Seems like were having it out on the effects of wealthy Asian, particularly Chinese, immigration. Here’s my all too lengthy two cents worth: First, it is obvious that a huge number of wealthy immigrants have arrived in this region within the last couple of decades. In the last ten years a great many from Mainland China. Of those from China, the economics of investing in property appears secondary. They are willing to pay a great deal and even lose money to gain a foothold. The source of their considerable income continues to be their home country. Hence prices for single family housing are completely divorced from what the very great majority of locals can afford. Second, thousands of properties are purchased as a place to park wealth and left empty, both single family homes and condos. I call this hoarding… Read more »
UBC in crisis mode
Guest
UBC in crisis mode

Updated Van West Sales (final? it seems very low):

Van West Sales (March, 2014)
apartment/house/duplex
listing 656 261 100
sold 102 41 18
listing (Feb) 544 243 81
sold (Feb) 293 154 47

Aggregator
Guest
Aggregator

Ok so I've completed sorting data to produce a Craigslist rental price index for GV. Chart

This is a basic index that includes anything listed under bedroom sizes, including furnished, basements, secondary suites and so forth. It's important to note that more then half of the listing are syndicated from MLS, so for those who say Craigslist is soley an amateur site, you're wrong.

Although it's not shown in the chart above, there's a lot of damn 4-6 bedrooms listed for GV. Even more then Toronto.