Happy Boxing Week

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!

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Jimmy
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Jimmy

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.”

Burt
Guest
Burt

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!

himwhat
Guest
himwhat

Is that why Olympic Village Condos are selling for less than they were in 2010

Best place on meth
Member
Active Member
Best place on meth

Hey Ted,

How’s the weather in LA today?

Looks like real estate is on fire down there.

Worng
Guest
Worng

PEEEEEEEE-NISSS

I'm with Stupid ^
Guest
I'm with Stupid ^
VCI Admin
Admin

Someone’s not bored of vote-stuffing yet, so lets try voting only for logged in users for now.

squeak
Member
squeak
Well, by following a link I stumbled upon a Vncr sun article about a UBC teacher wanting to prevent Vancouver becoming a zombie city. I think it might as well. It is too late. The article mentioned loosing young talented persons. I am glad, good for them! It shows they have the initiative and the smarts enough to know this province is of no use to them. 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. Young people should not sit around and wait for things to become sensible in Vncr for ten+ years (maybe even 100years?) They should immerse themselves into life, go where they can develop their careers, skills, learn and LIVE. That is not possible in Vancouver. In my… Read more »
patriotz
Member

@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.

Best place on meth
Member
Active Member
Best place on meth

@8

If all the good people in Vancouver leave, then the chinese terrorists win.

tedeastside
Member
tedeastside

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

w00t!
Guest
w00t!

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.

Vanco
Guest
Vanco

Is this VC.info or skinhead.info?

w00t!
Guest
w00t!

@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?

Shut It Down Already
Guest
Shut It Down Already

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.

Yunak
Guest
Yunak

@12

How those bloody poachers even got guns??? They should be jailed and eventually deported.

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

@16

go to any gun shop, you’ll see plenty of mainlanders. they are even hiring chinese staff now.

I'm with Stupid ^
Guest
I'm with Stupid ^

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.

I'm with Stupid V
Guest
I'm with Stupid V

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. “

southseacompany
Member
southseacompany
“Canada’s housing market could finally cool down in 2016”, Globe & Mail http://www.theglobeandmail.com/report-on-business/economy/economic-insight/canadas-housing-market-could-finally-cool-down-in-2016/article27946455/ (subscription, but some quotes;) “Analysts have been calling for Canada’s housing market to engineer a “soft landing” since the onset of the 2008 financial crisis. And for the most part, Canadian housing prices have just kept on rising. But with the fallout from low oil prices only starting to sink into Alberta’s housing market, new mortgage rules from the federal Liberal government and the U.S. Federal Reserve raising interest rates for the first time in nearly a decade, Canada’s housing market may have finally met its Waterloo.” “Exacerbating the overall economic weakness in many parts of the country are a constellation of changes that will make it harder for borrowers in expensive markets to get access to cheap mortgages. The federal government’s move to boost down-payment requirements… Read more »
Ray
Member
Ray

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.

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

@21

> Vancouver Real Estate bubble is next.

just curious ray, for how many years have you made this prediction? please give us a number.

Shut It Down Already
Guest
Shut It Down Already

“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.

vangrl
Member
vangrl

Paul,

When you get a chance, can you please tell me how many times 7231 Parry Street Richmond has sold since 2010?

Thanks!

Ray
Member
Ray

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)

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