An offer you can’t refuse?

The house of Vito Corleone from the film “The Godfather” is for sale on Staten Island, New York.

Every so often it’s interesting to see what sort of premium you pay for being within walking distance of 14 different coffee shops and a handful of grow ops here in Vancouver.

We’re not sure how many grow ops are within walking distance on Staten Island, but we know there aren’t 14 different coffee shops nearby, so the asking price is ‘only’ $2.9 million.

For that much here on the west coast you’d probably still get the ‘man cave’, gym and maybe even the ‘english pub’, but probably not the saltwater pool.

Any film history fans thinking of moving to the east coast?

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space889
Guest
space889

@Harry Wang – I guess the researchers never talked to Patriotz & renters on this forum because they have maintained that renting has alawys been affordable and easy to find with owners subsidizing the renters.

patriotz
Member

@25:

Or you could say more than half of renters spend less than 30% of their income on housing. Doesn’t sound so bad that way.

It’s the first comprehensive look at the costs facing B.C.’s 517,430 renters, a quarter of whom earn less than $19,500 a year.

This tells us what the problem is. A lot of renters have poverty level incomes. They are competing with renters who make more, so the have to pay a high proportion of their income on rent. But it’s not really a “rental crisis”.

The crisis in in income inequality.

space889
Guest
space889
@Joe Mainlander – Bullshit developers don’t make more money. $5M extra land cost spread over a 20 floors condo tower with almost 200 units, or a 20+ townhouse development on 3/4 standard lots isn’t that much of a cost. As well, CoV has measures that discourage high land pricing being paid to the owners by developers. All the local developers were crying foul when some Chinese developers bought a bunch of houses around Queen E park on Cambie at $3.5M when the local established developers were planning to only pay $2.5M. Nice houses in that area are going around $1.9 to $2.2M, so $2.5M isn’t that much of premium. The new condos and TH however are charging a nice premium price. So developers are raking it in via both volume and profit margins and cutting corners. The realtors are making… Read more »
space889
Guest
space889

@patriotz – applying that logic then there isn’t a housing bubble either. It’s just the local working stiffs who make less than $100K household income simply can’t compete against the rich and wealth for those coveted SFH or other housings in desirable areas of the city/region.

What we have then is not a housing crisis/bubble, but simply income/wealth inequality!

space889
Guest
space889
@LS in Arbutus – if that’s the case then why do we also hear stories every so often about CRA assessing tax penalty for people who left the country for a few decades to work in US/else where, but kept bank accounts/RSP/house ownership in Canada, for not filing tax returns while they were out of the country? Seems like using their logic in this case, those people shouldn’t have to pay taxes since they don’t spouse, dependents, etc ties while they moved to US for work. Seems like it is not so much about facts but rather which ever way nets the government more money. Maybe this family is cheating or not, I don’t really care given the scale of tax evasion in this country from corps & self-employed. But simply to point out what is residency is not simply… Read more »
Best place on meth
Member
Best place on meth

“Wang Xinping, China’s consul general based in Calgary, said his country’s energy companies want to bring in their own employees to reduce costs. But Ottawa has been stingy in issuing work permits, he said, making it harder for Chinese companies to develop their projects.”

Cry me a river, Chinese motherfuckers.

When western companies try to set up shop in China they’re banned from bringing in their own employees and then forced to share their company secrets with these Chinese scumbags.

Fuck you, locusts – we should be banning Chinese companies altogether.

rocknrolla
Member
rocknrolla

I’ll take the Scarface house over the Godfather house any day!

tedeastside
Member
tedeastside

need a job, well West Georgia might not be Wall Street
but im sure theres some good things about vancouver, cant think of any though

George
Guest
George

@ 32

The Scarface house isn’t complete without the “The World is Yours” statue:

http://www.entertainmentearth.com/item_archive/items/Scarface_The_World_Is_Yours_10Inch_Statue.asp

LS in Arbutus
Guest
LS in Arbutus

@ Space 889

I will agree that CRA is famous for sucking and blowing.

CRA is also very good at penalizing people who attempt to be compliant but f*%k it up, for example, these people in the article.

CRA however seems not very able to catch anyone who is flying under the radar, unless, of course they are a waitress not reporting their tips. Why does it seem there are there NO stories on tax evasion? Because it never happens?

Even if you phoned a great tip into the CRA, I doubt they even have the resources to act.

To assume all new Canadians are tax compliant is just as skewed as assuming they all aren’t. Of course the truth is somewhere in the middle and I wonder if CRA ever attempts to get at that truth.

West Coast Woman
Guest
West Coast Woman
LS in Arbutus @20: Don’t forget that the only donations the parties are required to disclose are those made in preparation for the election. Many millions of dollars Vision has collected from developers in the past three years before the disclosure period commenced WERE NOT disclosed, like the donations collected at Rennie’s $25,000 lunch with the Mayor. Bob Rennie and those developers are now salivating at the prospect of a Broadway subway line, since I believe they have proposed that it be financed by allowing these developers to build high density developments (like those at the foot of Cambie Street) all along Broadway, and especially at each subway station (eg., Alma, MacDonald, Arbutus, Granville, Oak, Cambie, Main, Commercial, etc.). Won’t that be nice? A wall of highrises that will cast all the properties north of Broadway into the shadows, while… Read more »
space889
Guest
space889

@West Coast Woman – High rises at each station wouldn’t create a wall of high rises all along Broadway. Frankly, major arterial roads are good places for high rise densifications, especially if we are going to be building expensive subway line.

paulb
Member

New Listings 181
Price Changes 89
Sold Listings 152
TI:14099

http://www.paulboenisch.com

tedeastside
Member
tedeastside

I’d Stay at the Hotel Cambiefornia

Cambie street is lined with Towering palm trees like Ventura Boulevard right?

Boombust
Guest
Boombust

#39

You’re very tiresome.

Westside Realtor
Guest
Westside Realtor

China new home prices fall AGAIN.

‘Nuff said.

#thisisadisaster
Guest
#thisisadisaster

“I’d Stay at the Hotel Cambiefornia

Cambie street is lined with Towering palm trees like Ventura Boulevard right?”

Man. What a geek.

Marco
Guest
Marco
Devore
Member
Devore

“Almost half of renters spending more than recommended 30 per cent of their income on housing”

That means more than half spend less than 30%. Sounds pretty good.

What are the numbers for home owners?

13K Party!
Guest
13K Party!

13K tomorrow…looks like a strong spring ahead.

Shut It Down Already
Guest
Shut It Down Already

What happened to the Vancouver Real Estate Rollercoaster?

southseacompany
Member
southseacompany
“Are Vancouver, Calgary, Toronto homes headed for ‘sharp correction’?” Global News. http://globalnews.ca/news/1675973/are-vancouver-calgary-toronto-homes-headed-for-sharp-correction/ “That’s causing concern for some who fear a crash looms at some point, as prices in those cities climb far above average income levels required to support mortgages on those homes.” ““The regional breakdown continues to reveal some troubling decoupling,” David Madani, an economist at Capital Economics in Toronto, said. “In these markets, home prices have lost touch with household incomes.”” “Still, Calgary could be hitting its peak. With oil trading sharply lower in recent months, the Alberta city could see a slowdown in real estate, according to BMO’s Kavcic.” “As for Vancouver and Toronto, ultra-low borrowing rates combined with still-robust demand continue to fuel sales, experts said. That’s creating conditions for a nasty price correction down the road according to housing market bears such as Madani. “It… Read more »
southseacompany
Member
southseacompany

“Buying a house or condo in Canada? Here are 5 things to consider” CTV News

http://www.ctvnews.ca/business/buying-a-house-or-condo-in-canada-here-are-5-things-to-consider-1.2106312#ixzz3JOxCABEA

“While everyone’s decision-making process will be different, here are a few things worth considering when shopping for a home.

The market could fall.

Many people who bought homes in Canada in the past decade have profited from rising house prices.
But home prices sometimes fall, says Paul Anglin, a real estate professor from the University of Guelph.
“Most people get excited about the rising part,” he says. “They forget about the falling part.””