6000 more homes

Remember when the Olympic village was “the last waterfront” development available in Vancouver?

Looks like you might get one more chance at “last” if that’s what your looking for.

The Squamish nations plans to build up to 6000 new units by the water in Kits.

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Hyper-mega-Bull
Member
Hyper-mega-Bull

i’m not christian but i’m going to start evangelizing christianity to mainland chinese. i’m not sure what the effect will be if there was a mass mainland chinese in vancouver conversion to christianity but i see no downside. only upside.

Best place on meth
Member
Best place on meth

Try converting them to Judaism and watch them break out in laughter as you explain the Ten Commandments to them.

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

Many Chineeze are already Christians. Christianity is growing quickly in China.

xhistory
Guest
xhistory

I’m sorry to report, the consensus from the living room; my youngest brother and dear old friend: we are unanimous in opinion that it is Winnipeg’s better application of Stick ‘Em, that has allowed the game to go in its benefit.

Please adjust your parameters to include this miraculous glue. Consider taking it into space. The power of its attraction to spiral missiles, think about it! Put it on your clothes or gloves when you go for a loan? The only collateral damage is the washing machine, lol (I’ve had a few) … and who cares about that? Clothes are priced to throw away.

xhistory
Guest
xhistory

Here comes the Grey Cup! Canada’s finest RCMP, in shiny uniforms, carry the Gigantic Flask down the stadium stairs. Keep your composure . Thy Hallowed Cup, vestibule of sacred cheer. It is a ritual we all cherish.

Don’t ever lose the cup, because bad things will happen. So when you find it again, things are bound to get better.

xhistory
Guest
xhistory

The game is decidedly in Winnipeg’s favour, and Hamilton seems out of sorts, but it’s just a game. The real message for the masses is the Half time show and Sponsors, who have their agendas.

Keith Urban, who performed, gets ample meme, doesn’t he look great? A svelte blond dude, crooning away, while the clueless Aussie, confesses his ignorance for our game. Folks, the Aussie, crooner, y’know, his blah blah is about other stuff, we talk about endlessly on this forum over the years.

So the CDIC, the Canadian Deposit Insurance has a Commercial now, oh ya!! Your money Deposit is Protected, don’t yo worry!!

ok, Hamilton scores, don’t go away, things change fast. But they are greedy and try for a two pointer, no dice.

xhistory
Guest
xhistory

Watching the Grey Cup? Canadian tradition, longer annual event than even American Football!

So there’s a commercial, CPA. Certified Professional Accountants, how they mean to Provoke Change. Did you catch this? Did this message pass for a completion? Go through the Up rights? Did it Sack you? Did the Pig skin slip through your hands?

What does the metaphors of a wonderful game, long time tradition, and friendly excuse to meet your neighbours, encapsulate in a Television Commercial for a Trade that that wants to Provoke Change?

paulb
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MTD
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Keep Kanada Kanadian
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Keep Kanada Kanadian
Oracle
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Oracle

Ahhh. A true racist you are judging by your username. KKK? Eh???

This is a housing and immigration numbers blog so buzz off or change your name.

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

It’s not an “immigration numbers blog” except in your pea-brain…

Shut It Down Already (original)
Guest
Shut It Down Already (original)

THAT’S the part you tried to correct?

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

You mean the KKK part? Such imaginations you guys have …

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Prick. You went out of your way to do that. Just fuck off and take your toxicity elsewhere.

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

You are paranoid. If you see monsters everywhere you need psychiatric help.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Nobody is going to defend you.

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

No defense is needed. I can’t tell you what to think or how to think it.

Werner Stein
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Werner Stein

The long-term outlook for the real estate speculators is dismal. This is not to say there won’t be demand for housing, it’s just that the price appreciation conditions are slowly but surely diminishing.
For one thing, even if interest rates never go up again, the 2000 basis point drop in mortgage rates can never be repeated.
Furthermore, the crash is already baked in in the numbers. For residential real estate to make economic sense, it would have to appreciate at least 5% per year. A simple calculation of compounding 5% to the price of a knock-down in Vancouver, and one can see that the price limit is breached even for drug dealers who would subsidize the loss with earnings from their investments in subprime private lending companies.

realist
Member
realist

Your observation about the unrepeatable drop in mortgage rates is certainly correct. The secular decline in interest rates has extended for over 1/3 of a century, and is unprecedented in the modern era of financial history in both duration and magnitude. This has caused inflation of (especially leveraged) assets, including but not limited to RE. However, the prospect of negative interest rates looms. That, coupled with the potential of capital flight from economies even sicker than ours, means that even negative-yield assets such as Vancouver RE could continue to have a strong bid.

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

We have entered another 1990’s era period of price stagnation where inflation and taxes slowly erode ROI.

Simple Solution
Member
Simple Solution

and for all of those that are wondering how YVR prices got so detached from economic reality…

https://thebreaker.news/news/liaoning-muchang-lawsuit/

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

I like the old Vancouver of the 1970’s and 80’s where we only had the local scammers on the VSE.

Simple Solution
Member
Simple Solution
Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

According to some people, the chineeze have nothing to do with increasing real estate prices; it is all the locals going crazy with cheap money…

Shut It Down Already (original)
Guest
Shut It Down Already (original)

According to every fucking piece of data we have, you mean?

Let’s see you blame the foreigners when these 2.28% 5yr mortgages are widespread. Idiot.

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

Last I heard, “foreigners” can get mortgages too…

Shut It Down Already (original)
Guest
Shut It Down Already (original)

They can. And we have data that tells us how many. Imagine that!

Simple Solution
Member
Simple Solution

what came first? the locals going crazy or the Chinese with the indiscriminate money.

They fed off each other…

Werner Stein
Guest
Werner Stein

This is an interesting set of circumstances that requires close following. A marketing challenge for sure.
The real estate cabal is astute, and will likely manage well.
Two seemingly conflicting messages will be making the usual media circuit. One message will say that “government intervention is killing the market”. The other message will simultaneously be saying” get int now, or forever be priced out because the market is heating up”

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

They are typical salesmen talking their book out of both sides of their mouths…

paulb
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Projection
Guest
Projection

Already above the total for November 2018 and 6 more days of sales to go.

Boombust
Guest
Boombust

That wasn’t hard. Sales last year were down 42.5%

Projection
Guest
Projection

Good chance this month will be above 10 year average

Screwed
Guest
Screwed

Who are these idiots?

Bestplaceonearth
Guest
Bestplaceonearth

They are the ones who just have gotten off the renter treadmill. Don’t be jelous to ” these idiots”. You can become one too if you smarten up yourself.

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

I figured that other guy who posts rubbish here would say something like “they aren’t hiding in their mama’s basement” or some such crap but thanks for not letting us down, pumper.

Bestplaceonearth
Guest
Bestplaceonearth

Had you listened to the “pumper” just once, you would be one of “these idiots” who “waste” money paying down the mortgage, instead of “making money” by paying rent for life.

Keep Kanada Kanadian
Guest
Keep Kanada Kanadian

Good thing you know all about me and everyone else who posts on the internet. You must be psychic (or maybe just psycho).

Shut It Down Already (original)
Guest
Shut It Down Already (original)

2.28% 5yr fixed available on Ratehub.

LOL.

Keep Kanada Kanadian
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Keep Kanada Kanadian

Free money !

Bring Back Don Cherry
Guest
Bring Back Don Cherry

We need Don Cherry .

Best place on meth
Member
Best place on meth

No we don’t. He was never of much use and rarely had anything interesting to say but he didn’t deserve to lose his job, as unimportant as it was.

We just need the angry leftist social media mob who got him fired over nothing to be thrown into an active volcano once and for all.

Bring Back Don Cherry
Guest
Bring Back Don Cherry

It was all the fake outrage from the offended snowflakes that got to me …

x files
Guest
x files

Vancouver empty homes tax nets another $39M as number of vacant properties drop, city says

https://globalnews.ca/news/6197311/vancouver-empty-homes-tax-revenue-2019/

“For those who choose to keep their properties unoccupied, we appreciate their contributions to the funds that are supporting various, much-needed affordable housing initiatives across the city.”

LOL good one Mayor Kennedy !

x files
Guest
x files

Test postings.

paulb
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Oracle
Guest
Oracle

Bidding wars erupting all over again. Suburbs going crazy. Watch the inventory. If it dips below 11,000 we are going to the moon. .

Bestplaceonearth
Guest
Bestplaceonearth

Please Stop salting the wounded.

Boombust
Guest
Boombust

Bullshit. As usual.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Oracle has a new Twitter account. Same old shit, just 200x the frequency. Must have a lot of time on his hands for reasons I can’t quite put my finger on.

paulb
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Simple Solution
Member
Simple Solution

CAUTION! The following link may be racist…

https://thebreaker.news/news/liaoning-muchang-lawsuit/

Bring Back Don Cherry
Guest
Bring Back Don Cherry

Ma’s occupation varies by registration: She is identified as a businesswoman, manager, self-employed or student.

LOL of course it does …

The real estate portfolio is currently worth almost $24.7 million, including Bai and Ma’s $6.34 million Gleneagles residence in West Vancouver and Mu Qing Bai’s $2.983 million Caulfeild residence in West Vancouver.

move along… nothing to see here… just average people doing average things …

Best place on meth
Member
Best place on meth

All of the usual occupations the scumbags like to claim. The only thing this mainland cunt missed was “duck farmer”.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Don Cherry? Just another unemployable racist. See the pattern yet?

YVR
Guest
YVR

DC has a net worth of $14 million US. I don’t think he is worried about being a wage slave and making his next mortgage payment like you.

https://www.celebritynetworth.com/richest-celebrities/don-cherry-net-worth/

Bring Back Don Cherry
Guest
Bring Back Don Cherry

Did you wear a poppy on remembrance day ?

Shut It Down Already (original)
Guest
Shut It Down Already (original)

Wait – the fuckwit who reads neo-Nazi websites and spews toxic hatred online is about to try and judge others for whether or not they wear a poppy?

Ride your high horse the fuck outta here, clown.

Bring Back Don Cherry
Guest
Bring Back Don Cherry

So that’s a “no” then is it? That figures with a traitor to Canada like you are.

Bestplaceonearth
Guest
Bestplaceonearth

Wow, you are a keyboard patriot, hiding behind the screen in mama basement, virtually attacking others for not wearing a poppy. Didn’t know learn what happened to the other guy who said the same thing? YOU’RE FIRED.

YVR
Guest
YVR

Have you ever seen a locust wear a poppy?

Simple Solution
Member
Simple Solution

I wonder what her tax filings look like….

Bring Back Don Cherry
Guest
Bring Back Don Cherry

she is probably at the poverty level …

paulb
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Shut It Down Already (original)
Guest
Shut It Down Already (original)

20K party!

patriotz
Member

https://vancouversun.com/business/real-estate/five-examples-of-metro-vancouver-homeowners-losing-big-in-a-falling-market

“Some Metro Vancouver homeowners who bought just before or just after the start of the market correction in the summer of 2016 and have now sold their homes are being hit with staggering losses.”

Specuskeptic
Member

On that note…
“City of Vancouver taxpayers facing upwards of $300-million loss on Olympic Village: Expert”

http://www.theprovince.com/news/8733640/story.html

“they’re not building any more land”
“prices only go up”
“everyone wants to live here”
“it’s never been cheaper to borrow money”

Did I miss any?

http://www.theprovince.com/news/8733640/story.html

Simple Solution
Member
Simple Solution

You are missing the main point…. Land cost in this scenario is zero…. Zoning is not an issue… DCCs not an issue

This will finally change the game in Vancouver. The city will have to fix their ridiculous zoning process…

patriotz
Member

It’s not going to change the game. Just like Li Ka Shing, the SN is going for the maximum return possible. Like LKS, that means putting units on the market over an extended period, so as not to depress prices. Unlike LKS, they don’t have to meet any city demands for affordable housing or rentals. Also unlike LKS, they don’t pay any property taxes, so they don’t pay a price just for sitting on the land.

If you think the FN’s have any other goal than making the maximum profit for themselves, just talk to anyone currently leasing on FN reserves in metro Vancouver.

YVR
Guest
YVR
“Like LKS, that means putting units on the market over an extended period, so as not to depress prices.” They have said it will be 80% rentals compared to LKS which is 100% condos. LKS is subject to CoV development permits and therefore must hand over something for every building in order to get the maximum square footage, height, etc. First nations have none of that. “Unlike LKS, they don’t have to meet any city demands for affordable housing or rentals. ” Most of the land set aside for affordable rentals in the Expos lands is still sitting empty surrounded by completed condos. Just highlights what a failure this policy is. Had they let them build condos we would at least have more housing stock over vacant lots sitting for 20 years. “Also unlike LKS, they don’t pay any property… Read more »
patriotz
Member

“LKS and other developers don’t pay property tax either. They just call the vacant lot a community garden.”

Wrong. Here are the facts for those who are interested:

– there are no “community gardens” on the Expo site.
– properties with “community gardens” pay property taxes (all levels) at the Recreational rate. This is lower than the Commercial rate but higher than the Residential rate. The Residential rate applies to all residential zonings (not just detached houses).
– according to the article below, there are 28 “community garden” properties in CoV with total value of $525,242,100. Obviously that’s a fraction of all vacant properties. Clearly many developers don’t want the “community garden” designation because the properties are already taxed at the Residential rate, or they don’t want to provide public access.

https://vancouversun.com/news/local-news/dan-fumano-vancouvers-community-gardens-sit-on-525-million-of-real-estate

YVR
Guest
YVR

LOL Partiditz can only respond to 1 of 8 points and even with that he is just splitting hairs. There have been many temporary parks, off leash parks and veggie gardens on the Concord lands. They also use them as parking lots and for events which generate a fair bit of revenue. There are no vacant Concord owned lots.

“3-acre temporary park coming to Concord Pacific lands at Northeast False Creek”

https://dailyhive.com/vancouver/concord-pacific-temporary-park-northeast-false-creek-vancouver

YVR
Guest
YVR

New Organic Farm Sprouts Next to BC Place

“Earlier this month, I started noticing empty wooden boxes – first hundreds, then thousands of them – neatly spread out on the parking lot next to the stadium. Then one day a mountain of top soil appeared at the site. It turns out that the dusty old lot – which has been sitting empty since Expo 86 – is about to become Vancouver’s largest urban farm. Forty varieties of organic fruits and vegetables are currently being planted on the two-acre site ”
https://www.insidevancouver.ca/2012/05/25/new-organic-farm-sprouts-in-bc-place-parking-lot/

YVR
Guest
YVR

Six False Creek affordable housing lots still empty after three decades

“In 1989, after Concord Pacific bought the old Expo lands, the developer agreed to sell six lots at low-cost to city hall for affordable housing. Those properties, which were to provide 600 affordable homes for families and seniors in popular False Creek, are still empty today. ”

https://vancouversun.com/news/local-news/three-decades-ago-six-big-lots-in-vancouvers-trendy-false-creek-were-reserved-for-affordable-housing-they-remain-empty-today-will-these-600-homes-for-families-and-seniors-finally-be-built

Simple Solution
Member
Simple Solution

I have no illusion that the FN wants to maximize returns.

YVR
Guest
YVR

The way to maximize returns is to build it. My understanding is the FN put in nothing other than the free land. The partners who will share in the revenue must put in all resources to build it. I would assume the FN were smart enough to put in strict timelines the buildings are built. Without government red tape there is nothing to hold this back. It is in everyones interest to build it asap. Also note the building cost will be reduced by 25% or more with no permit fees, development levies, inspections, etc. in addition to all the time saved with the normal CoV post DP building process. This project will prove how useless government is IMO.

Bring Back Don Cherry
Guest
Bring Back Don Cherry

It will be a good cash cow for them.

Specuskeptic
Member

Forgot to add that it’s an old story. Trying to add context to a possible outcome for the Squamish developers…

Bestplaceonearth
Guest
Bestplaceonearth

Well, the OV home owners laugh all the way to the bank, and the naysayers ate their hats.

Shut It Down Already (original)
Guest
Shut It Down Already (original)

As soon as the Olympic closing ceremony is over this market is toast!

YVR
Guest
YVR

Many of the initial presale buyers of the OV could not sell their units for the original purchase price of 2008. Some are just as underwater as you.

Bestplaceonearth
Guest
Bestplaceonearth

What about now?

Simple Solution
Member
Simple Solution

Worked out great for the Aquilinis

Keep Canada Canadian
Guest
Keep Canada Canadian

But not for the City who had to bail out the project. And also there were lots of construction issues and substandard construction problems with it.

Hyper-mega-Bull
Member
Hyper-mega-Bull

how’s life in the sinosphere?

Why this B.C. mayor is talking about the harassment of Chinese Canadians in Metro Vancouver

dozens of local residents have come to him with stories about themselves or their family members receiving visits at their homes or phone calls from Chinese officials unhappy about things such as their social media posts and participation in protests.

https://www.thestar.com/vancouver/2019/11/15/theyre-that-fearful-why-this-bc-mayor-is-talking-about-the-harassment-of-chinese-canadians-in-metro-vancouver.html

Best place on meth
Member
Best place on meth

Brad West recognizes how evil china is.

southseacompany
Member
southseacompany

“The U.S. Housing Market Bubble Races Toward a Crash as Foreclosures Jump”. CNN

https://www.ccn.com/us-housing-market-bubble-races-toward-crash-foreclosures-jump/

“Week after week, data pointing toward a U.S. housing market crash keep turning up. Just last week, the National Association of Realtors (NAR) gave us evidence of a U.S. housing market bubble when their chief economist Lawrence Yun pointed out that “income and wages are not rising as fast and will make it difficult to buy once rates rise.”“

Burt
Guest
Burt

“Once rates rise.”

I don’t understand why we are all still playing this game.

Rates will never rise, not significantly, eg; back to 6-8% range. Western governments would become insolvent having to spend inordinate amounts of revenues for debt service alone.

Put it another way. If you are betting on 6%+ rates you are betting on the complete collapse of the economic system as we know it.

Simple Solution
Member
Simple Solution

“never” is a very long time horizon

Best place on meth
Member
Best place on meth

Governments are just as indebted as people. They’re have no choice but to offer higher rates of return when buyers of their debt lose interest.

patriotz
Member

“Rates will never rise, not significantly, eg; back to 6-8% range. Western governments would become insolvent having to spend inordinate amounts of revenues for debt service alone.”

Don’t confuse the rates governments pay for borrowing money with the rates individuals pay. The latter includes a risk premium. Also tightening mortgage qualifications can have the same effect as higher interest rates – for mortgage borrowers alone.