It used to be there was a time when shops had sales on the day after Christmas to get people out shopping again and to get rid of their unsold Christmas sweaters.
In recognition of the fist fights that would break out over parking spaces this was called ‘boxing day’.
Then someone noticed that suckers would buy anything that had a big enough sale sign on it so they stretched it out for the full week.
It’s now that time of year, may all your shopping dreams come true, go fill those condos!
It does look like condos have finally started to close the gap this past year. If I was investing I would be buying apartments further out like Fraser Valley or Victoria that are now just starting to feel Van’s ripple effect.
“The benchmark price of an apartment property increased 14 per
cent from November 2014 to $435,000.”
I been telling you guys that condos are next to run.
Buildable land is escalating in price 30-40% YoY, this will have to be reflected in condo prices.
As I said months ago, 2016 is the year where flipping assignments becomes profitable.
24 months of easy money coming up.
Enjoy!
Is that why Olympic Village Condos are selling for less than they were in 2010
Hey Ted,
How’s the weather in LA today?
Looks like real estate is on fire down there.
PEEEEEEEE-NISSS
http://www.cbc.ca/news/canada/british-columbia/boxingday-sales-crowds-loonie-1.3381193
What is this, Hong Kong???
Someone’s not bored of vote-stuffing yet, so lets try voting only for logged in users for now.
@8: “Housing (which this blog is about) is for the foreigners with their illegal incomes, not for those that work, pay tax, and are useful to the economy/community.”
Here’s a prediction: the 2016 census (which will have the real long form again, not the household survey) will show record high owner-occupancy for metro Vancouver.
The present scheme of tax breaks and incentives for home ownership was set up by governments elected by locals for the presumed benefit of locals. The foreigners are playing the same game, just making larger bets.
@8
If all the good people in Vancouver leave, then the chinese terrorists win.
Port of Vancouver already admitted that vancouver has no economy, its just a backwater with a shallow self-absorbed life-style obsessed population dedicated to self-wellness and living off real estate
THEN:
“Mainlander hunters and fishers don’t pay much attention to rules, licenses, quotas etc. I predict that this will come to the surface and become another source of tensions.”
http://vancouvercondo.info/2014/07/are-home-buyers-foolish.html#comment-236345
AND NOW:
Vancouver man fined more than $7,000 for killing bull moose out of season
Xin Yue Xiao was found guilty in Kamloops provincial court this month of three violations of the B.C. Wildlife Act
http://www.theprovince.com/vancouver+fined+more+than+killing+bull+moose+season/11615811/story.html
Some people are in the know, many others aren’t. So many people (especially white) are living in a bubble.
Is this VC.info or skinhead.info?
@13
No, it isn’t and pointing out that people live in a bubble and don’t know anything about their non-white neighbors isn’t exactly racist now is it?
You’re celebrating as if a single example in 17 months somehow proved your original point? Uh huh. The only person making “tension” out of it, so far, is you.
@12
How those bloody poachers even got guns??? They should be jailed and eventually deported.
@16
go to any gun shop, you’ll see plenty of mainlanders. they are even hiring chinese staff now.
Fuerdai mainlanders loveeee their guns, not a joke.
And not your everyday shitty pistols. They are packing the best stuff money can buy, it is a hobby for the young, rich, with too much time on their hands.
http://www.cbc.ca/news/canada/british-columbia/first-cohousing-vancouver-1.3381542
This made me chuckle.
I used to drive by and wonder how much this thing costs, should be cheap.
ROFL
“The units cost about 10 per cent more than comparable housing, but owners believe it will save them money in the long run because they are sharing resources like food and babysitting. “
Mostly lurker. But registration asked me to post to prove I was alive. Here’s my last FB status, where I post everyday on our speculative mania.
8% of Canadians owe $3.50 for every $1 they earn. This debt powder keg is going to explode in 2016. Short sellers have made a bundle shorting subprime mortgage lenders like Home Capital Group and shorting our currency which has dropped -20% this year versus the USD. With new 10% down payments, increasing fixed mortgage rates and continued rock bottom low oil prices, the Vancouver Real Estate bubble is next.
@21
> Vancouver Real Estate bubble is next.
just curious ray, for how many years have you made this prediction? please give us a number.
“8% of Canadians owe $3.50 for every $1 they earn.”
That doesn’t sound bad at all. Wasn’t 3-3.5x salary always considered to be a responsible multiple when taking a mortgage? Or are you instead trying to state that the other 92% have a higher, and hence irresponsible, debt load? Some context wouldn’t hurt.
Paul,
When you get a chance, can you please tell me how many times 7231 Parry Street Richmond has sold since 2010?
Thanks!
Sorry, 3.5x income across 8% of all Canadians (35 million).
http://www.theprovince.com/business/story.html?id=11603582
Whereas for BC, it’s much worse. Over 5x income across 20% of BC households (2 million).
https://www.cdhowe.org/sites/default/files/attachments/research_papers/mixed/Commentary_441_0.pdf (page 12)
