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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
Willing to sell a family member for a few minutes on RS
Join Date: Feb 2005
Location: Surrey
Posts: 12,759
Thanked 689 Times in 376 Posts
Failed 61 Times in 38 Posts
some good shit in here. All I know is that back in the day 10 - 20 years ago, if you made 50k you could easily afford a house. Making 50k now after all your expenses, you'd be lucky enough to afford a condo or townhouse. Housing prices have skyrocketed thats for sure
Props to hypa for making real estate work for him, but I do agree that nowadays we're doomed as new homeowners...
my fingers are crossed that real estate declines a good amount soon so we can actually afford something...
You could wait for it to decline, which it might in the near future.
But I wouldn't count on it. I know far too many people who chose to rent over buy, and now they're at an age where they wish they had an asset. They're starting with nothing now, and are having a hard time making it work. If they had bought, even a condo a few years ago, it would have increased and at the very least they would have had equity built in. This is the point that many people miss, is equity is a huge part of the investment. Imho, if you're in a stable job, and want to live in the lower mainland, commit and buy. The equity you build while living there will allow you the freedom to start building your own portfolio. My properties are my retirement fund.
On that note, I've learned that bitching and whining online won't change the world. So change yourself. Work harder, earn more, take calculated risks, and leave the losers in your dust.
cheers.
Quote:
Originally Posted by seakrait
line of credit vs a mortgage? thoughts?
I've used both, and like the freedom of an LOC. It allows you to make payments based on your own abilities, without bank reprisal if you choose to make large, lump sum payments.
It's all dependant on your abilities though. I have a great LOC because it's secured against one of my properties. Results may vary though.
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Originally Posted by taylor192
If I was 10 years older and lived in Van 10 years ago, I'd could easily duplicate what you did.
Did your crystal ball tell you this?
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You couldn't repeat what you did right now. This is why my first response to you starts with:
You're doing nothing more than arguing semantics. Who knows if I could do it now, or you could do it then. The facts are simple. I'm doing it as we speak, while you're making up asinine statements that go against space and time.
Quote:
Please find me a single residential property in Vancouver that I can buy and rent for a positive cash flow, without leaving so much down that the returns on my investment are less than in safer investments. If you cannot, shutup, bragging about the past doesn't mean anythign to those buying right now.
:
bragging? Come on now. If you had $500g to spend, you could put it in many different places. The stock market, real estate, coke and hookers, etc. I simply choose to put it into real estate.
I'm not going to find you a Vancouver property, because I have no interest in Vancouver. The ROI is far too low compared to other areas.
I don't get your attitude that you need to buy in Vancouver. What about a home in Mission? What about an apartment in Abbotsford? The lower mainland is a huge, diverse market. Focussing on the Vancouver market is severely limiting your ability to find a property to make money on.
Quote:
Thanks for showing that money doesn't buy class. You're the lowlife on real estate blogs bragging about making money in real estate. The truth is you were just lucky enough to be the right age to take advantage of the bubble. You cannot repeat the same investments now without losing money.
give me a break man.
If you don't want to have a sensible conversation, simply log off. The semantics may fool the kids on here, but I can see through it.
Quote:
Why do I say you're lucky? Cause you're not educated on how the market can change. The #2 and #4 economies in the world have negative returns for real estate over the past 2 decades. The #1 economy just lost a decade of gains. Yet the rules are different here right? Moron.
Again with the personal attacks? Who the fuck are you?
Wow. The bottom line is that if you can make it work for you, then good for you. I did, and good for me. If you have a specific question or claim, then spit it out. But drop the personal ambush, it's unbecoming. We're men, not little keyboard cowboys. Now act like it.
I'm not going to find you a Vancouver property, because I have no interest in Vancouver. The ROI is far too low compared to other areas.
Then why the fuck are you even wasting our time in this thread? See the title? see the word VANCOUVER?
GTFO idiot.
Quote:
Originally Posted by originalhypa
I don't get your attitude that you need to buy in Vancouver. What about a home in Mission? What about an apartment in Abbotsford? The lower mainland is a huge, diverse market. Focussing on the Vancouver market is severely limiting your ability to find a property to make money on.
The entire lower mainland is over-priced, to lesser degrees. Yet we're not discussing the lower mainland, we're discussing VANCOUVER.
If you want to expand the discussion to other places, lets go overseas and find some real deals.
Quote:
Originally Posted by originalhypa
give me a break man.
If you don't want to have a sensible conversation, simply log off. The semantics may fool the kids on here, but I can see through it.
How about you kindly fuck off.
You keep changing your argument to make your asinine point. Vancouver, stay on topic moron.
Quote:
Originally Posted by originalhypa
Again with the personal attacks? Who the fuck are you?
But drop the personal ambush, it's unbecoming. We're men, not little keyboard cowboys. Now act like it.
From the classless moron who insulted me and my car first:
Quote:
while you drive an old car that's painted like some sort of clown mobile.
You're a classless moron. You don't get to sit on your high horse after making comments like that.
Quote:
Originally Posted by originalhypa
Wow. The bottom line is that if you can make it work for you, then good for you. I did, and good for me. If you have a specific question or claim, then spit it out.
I had a specific claim: Vancouver. You keep ignoring, and now admit why. Returns are not good in Vancouver... and well, what was my original argument? Oh ya.
The article never specified whether they were talking about the greater Vancouver region which includes the valley, or Vancouver proper.
cheers.
Now who's playing silly semantics?
Your comment:
Quote:
What about a home in Mission? What about an apartment in Abbotsford?
If the article meant the GVA, including the entire lower mainland, then the price index is 9.3:1 even in the places you listed as potential investment opportunities. Why would I want to invest anywhere that's 9.3:1?
You've spun your argument so much you're dizzy and contradicting yourself.
Yes its cyclical. Since 1977 we've had:
3 years flat - 1977-1980
1 year up - 1980-1981
1 year down - 1981-1982 5 years flat - 1982-1987
2 years up - 1987-1989
1 year down - 1989-1990 2 years flat - 1990-1992
2 years up - 1992-1994 8 years flat - 1994-2002
6 years up - 2002-2008
1 year down - 2008-2009
1 year up - 2009-2010
? years ? - 2010-?
??????????????????????
profit
sorry i have to do this
__________________
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2000 Honda Civic SIR(SOLD)
1992 Acura Integra LS(SOLD)
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If the article meant the GVA, including the entire lower mainland, then the price index is 9.3:1 even in the places you listed as potential investment opportunities. Why would I want to invest anywhere that's 9.3:1?
Read it.
It clearly states "metropolitan areas". Last time I checked, metro Vancouver included the valley, and tri-cities.
Price Index is an average. While Vancity may be more than Langley, all numbers are combined to create a PI.
The PI is moot in this conversation.
Also, your list of flat years is incorrect.
I bought my first home in 00', and by 02' it had increased by 15% in value. I'd find info to back me up, but then I'd be attacked by you and called a moron again. It's your MO, and it's pathetic.
It's worthwhile noting that the most affluent "family" group - empty nesters - made a median income of about $90k, whilst all married couples earned about $69k. It's still a crazy multiple to the cost of purchased housing.
Read it.
It clearly states "metropolitan areas". Last time I checked, metro Vancouver included the valley, and tri-cities.
Price Index is an average. While Vancity may be more than Langley, all numbers are combined to create a PI.
The PI is moot in this conversation.
Perhaps you should read the article. You'll notice the list is alphabetical, and what is the first city in the list? Oh ya: Abbotsford
Just to be clear, what is the PI in Abbotsford? Where does it rank among Canadian cities? Oh ya: 6.6 and #3.
Wait, did you just say this?
Quote:
Originally Posted by originalhypa
What about a home in Mission? What about an apartment in Abbotsford? The lower mainland is a huge, diverse, overpriced market.
You forgot a word. No worries, I added it for you.
Keep spinning, you're making me dizzy now.
Quote:
Originally Posted by originalhypa
Also, your list of flat years is incorrect.
I bought my first home in 00', and by 02' it had increased by 15% in value. I'd find info to back me up, but then I'd be attacked by you and called a moron again. It's your MO, and it's pathetic.
Your numbers may be skewed, partner.
Ah, the typical "stick your tail between your legs and run" comeback.
Here's a graph for Vancouver. You are correct in that you may have made 15% from 2000-2002. Yet your argument the entire time has been "hold it a long time, it always makes money. Lets say you bought in 1995 - question: by 2002 how much would you have made?
Oh ya, from 1995 to 2002 prices were flat, zero gains. Sure it fluctuated inbetween, yet if you're gong to invest on small fluctuations, then day-trade penny stocks instead.
Did you time the market in 2000? you knew that after 5 years of price declines the market was showing signs of a run? Or are you just a glorified lottery ticket winner who was lucky when you bought and is now on here bragging about how smart you were?
The rest of us see through you, yet please keep it up, I enjoy driving trucks through your swiss cheese arguments.
almost all factors point it to be better than a mortgage if u can attain it. the only thing i can think of positive for a mortgage is if you happen to lock into a rate that is significantly lower than the rate for the heloc.
i think the heloc rate is set at prime + 1.5% right now. but the positives that i find are awesome is no true set amount for payments. the faster u pay it, the less total interest you pay. eg, say u can put away 10g a month to it, the total interest paid will be significantly less than say if u put only 5g a month away. if for some reason, you cant make such a large payment that one month, you just have to cover the minimum, which is the interest amount for that month. but if u happen to win big or have a large sum come in, you can dump it all at once without any penalties.
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
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You're the lowlife on real estate blogs bragging about making money in real estate. The truth is you were just lucky enough to be the right age to take advantage of the bubble. You cannot repeat the same investments now without losing money.
