Category Archives: Open Topic

Friday Free-for-all!

It’s that time of the week again.. Free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the first weekend of October 2012.

Here are a few recent links to kick off the chat:

Everything about Canadas bubble
Sales plunge: normal or bursting bubble?
Industry tries to paint positive picture
They always say the same thing
Buy one get one free
A sad day for data
High end homes take a hit
A guarantee against price drops?
Gen Y renting?
Not in My Back Yard 

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

Friday Free-for-all!

Yeah! It’s the end of another work week and that means it’s time for our regular news round-up and open topic discussion thread.  Let’s wrap up September with some weekend chat, here are a few recent links to kick things off:

Inventory graph keeps climbing
An economy based on house prices
$150k deductible for water damage
Ian gets bearish
I said Watt?
No Smoking
If no one can buy, then what?
Home of the weak
Teranet decline by month
Immigrants move to Saskatchewan
Vancouver 2012 layoffs
Council wonders why you’re isolated & resentful

Based on current sales numbers this month we need to see a big sales day today to make September 2012 sales numbers come out ahead of September 2008.  Makaya estimates that we need to see 101 or more sales today or we’ll be coming in lower than 2008.  Keep an eye on the comments for daily numbers from Paulb to see what happens.  It will be interesting to see how the newspapers and REBGV press release cover these sales numbers.

On a side note our new comment rating system has been tweaked a bit.  This site gets way too much traffic for the default settings to work, so we’ve upped comment highlighting to start at +10 and we’ve dropped comment hiding to -8 giving it a foreclosure stage before it disappears.  If you see a negatively rated comment that you disagree with but is honestly presented (ie not a troll) please consider not voting it down further.  It would be nice to reserve comment hiding for the real trolls.

Feedback is welcome to these tweaks, we’ll adjust further if necessary.

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

Friday Free-for-all!

It’s that time of the week again! Let’s wrap up the work week with our regular news round-up and open topic discussion thread.  Here are a few links to kick off the chat:

Inventory inches up
Canada’s housing crash begins
BC slowdown signals wider slump
No Cam, thats not what happened
Mommy, can I borrow the car?
Vancouvers economic well-being
No more land, lots more condos
Tiny little boxes
25% drop in Vancouver?
Come back to BC!
Why rent?

 

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

The Little Mountain that Couldn’t

Apparently Vancouver has an affordable housing problem.

For buyers housing affordability is at a new low despite our problems with construction quality.

And lately we’re seeing more news stories about more families leaving BC due to the high cost of living.

So are we building more affordable housing?  Well, we’re trying I guess, but if you live in Vancouver you may have noticed a big vacant spot for homes just up Main street near Queen Elizabeth Park.

Several years ago the housing units at Little Mountain were torn down to make way for a new higher density housing development.

So why has nothing happened over those years?

According to Michael Geller it’s developer inexperience.

“The developer … doesn’t fully understand how to do business here,” Geller said in a phone interview.

Four years ago, BC Housing started moving the 224 residents of a social housing project into other subsidized homes. Now, only four residents remain in one building on the 6.2-hectare site by Queen Elizabeth Park and bounded by 37th and 33rd avenues and Main Street.

In June, a city report said there was a blueprint for Holborn Properties to redevelop the site with as many as 1,800 units in stepped towers up to 12 storeys, most buildings being four to 10 storeys in height. The province has committed to replacing all 224 social housing units plus another 10 for aboriginal residents. Most of the buildings at Little Mountain were demolished in 2009.

Geller also referred to the years of delays Holborn has faced in building a proposed 64-storey hotel and residential tower at West Georgia and Thurlow.

“If one wonders why this one is taking so long, one might also wonder why the same developer’s project on West Georgia took so long — although I see construction is finally underway,” he said.

“All of these things are symptoms of the lack of experience with high-profile, highly complex undertakings.”

So apparently we sold that land to a developer that doesn’t know how to get things done and to make matters worse, they bought it for an undisclosed sum right before the mini market crash of 2008.  If prices keep falling as they are now is anything going to get built there?

And if it does get built how much responsibility will the city end up taking for falling profit margins or ‘developer inexperience’? Are we looking at the potential for another Olympic Village scenario?