| Vancouver Off-Topic / Current Events The 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. |
 | | 
06-30-2012, 04:30 AM
|
#26 | | Need to Seek Professional Help
Join Date: Jan 2004 Location: .
Posts: 1,042
Thanked 1,051 Times in 265 Posts
Failed 120 Times in 37 Posts
| Quote:
Originally Posted by Redlines_Daily  The most ignorant comment posted in this thread yet |
Ignorant? You aren't allowed to use big words like that without reason. Give me some logic. Tell me me exactly what's wrong with what I posted.
Do you not get paid based on your value to society?
| 
|  | |
06-30-2012, 06:41 AM
|
#27 | | Need to Seek Professional Help
Join Date: Oct 2006 Location: Victoria
Posts: 1,028
Thanked 436 Times in 92 Posts
Failed 292 Times in 68 Posts
| Quote:
Originally Posted by bananana Ignorant? You aren't allowed to use big words like that without reason. Give me some logic. Tell me me exactly what's wrong with what I posted.
Do you not get paid based on your value to society? | The reason house prices are high aren't due to a significant portion of the population making more than 40k, its due to foreign buyers. If you search other parts of the country, the house prices are priced relative to what the average buyer earns.
| |
| | |
06-30-2012, 07:52 AM
|
#28 | | Banned (ABWS)
Join Date: Apr 2008 Location: bc
Posts: 411
Thanked 32 Times in 22 Posts
Failed 607 Times in 60 Posts
| Quote:
Originally Posted by Eastwood The reason house prices are high aren't due to a significant portion of the population making more than 40k, its due to foreign buyers. If you search other parts of the country, the house prices are priced relative to what the average buyer earns. | Younger buyers can use their family/parents income help too.
| |
| | |
06-30-2012, 08:09 AM
|
#29 | | First to fail !SG evar! Now i have yellow fever...
Join Date: Jan 2010
Posts: 1,482
Thanked 2,431 Times in 475 Posts
Failed 358 Times in 115 Posts
| Quote:
Originally Posted by bananana Ignorant? You aren't allowed to use big words like that without reason. Give me some logic. Tell me me exactly what's wrong with what I posted.
Do you not get paid based on your value to society? | Ignorant is a big word?  you are assuming that everyone who is unhappy with housing prices feels that way because they cannot afford it. Also, how is it realistic to expect all of the working class people to triple their yearly salary so that they can afford a decent home simply by working harder?
Servers, dental hygienist, small business owners, doctors, teachers, accountants, lawyers, mechanics, retail workers.. these are people who live and work in Vancouver and can't afford to buy a home. Don't assume that just because someone doesn't have a lot of money that they don't work hard, and dont assume just because someone has a good career that they can afford a $1,000,000 'starter' home for their family. Oops my bad, I forgot that it is no longer a right to be able to live in the city you work in. I suppose these poor, uneducated lazy people can find something in the burbs for a mere $600,000 or so.
| |
| | |
06-30-2012, 08:16 AM
|
#30 | | I Will not Admit my Addiction to RS
Join Date: Mar 2008 Location: Montreal
Posts: 590
Thanked 324 Times in 144 Posts
Failed 2 Times in 2 Posts
| Quote:
Originally Posted by Eastwood The reason house prices are high aren't due to a significant portion of the population making more than 40k, its due to foreign buyers. If you search other parts of the country, the house prices are priced relative to what the average buyer earns. | The reason is cheap debt my friend. Out East is no different and there's no immigration here in Montreal either and the prices in the GTA are not relative to what the average income is, not even close.
Low interest rates for an extremely long time, lots of slack rules in terms of conditions for acquiring a mortgage (hell, cash-back mortgages? That's was a stupid idea), poor debt-income ratio conditions and that helped along a huge housing bubble. Totally different that what happened in America...oh wait.
__________________
"Happiness lies in the joy of achievement and the thrill of creative effort"
| |
| | |
06-30-2012, 08:19 AM
|
#31 | | Waxin’ Punks
Join Date: Jun 2006 Location: South Surrey
Posts: 7,217
Thanked 6,101 Times in 2,111 Posts
Failed 215 Times in 113 Posts
|
I think we all need to focus on the real issue at hand here.. congrats OP on creating the 100th "Vancouver Real Estate Market Slowing" thread on RS!!!!!
Maybe we should rename it "The Official Vancouver Real Estate Market Slowing Thread". Not enough "Official" threads on RS if you ask me. 
__________________
If you drive like an asshole, you probably are one. Quote:
Originally Posted by MG1 punkwax, I don't care what your friends say about you, you are gold! | Quote:
Originally Posted by mikemhg What do your farts sound like then? | | |
| | |
06-30-2012, 08:20 AM
|
#32 | | I Will not Admit my Addiction to RS
Join Date: Mar 2008 Location: Montreal
Posts: 590
Thanked 324 Times in 144 Posts
Failed 2 Times in 2 Posts
| Quote:
Originally Posted by Bahhbeehhaaaa our global economy is still not so great but is recovering. There is a large supplies in apartments meeting our demand, thus price is slowly dropping. ( if you circle around vancouver and burnaby there are lots of apartments undergoing constructions. =) | Our global economy is not recovering, the declining price of oil is hurting us as that is a significant part of our GDP. Do you know what else was driving our GDP? Housing starts and banks making money off of those mortgages.
Sorry, but supply has outstripped demand.
__________________
"Happiness lies in the joy of achievement and the thrill of creative effort"
| |
| | |
06-30-2012, 10:22 AM
|
#33 | | I contribute to threads in the offtopic forum
Join Date: Jun 2006 Location: not vancouver
Posts: 2,642
Thanked 1,941 Times in 765 Posts
Failed 532 Times in 202 Posts
| Quote:
Originally Posted by diesel_test Younger buyers can use their family/parents income help too. | not everyone has rich parents
not everyone with rich parents have parents that are willing to lend them or give them money - there's something to be said about being self sufficient
just because a lot of ppl have no choice but to go to mum and dad, doesn't mean everyone can
don't get me wrong, i'd love to have some of my parents' wealth - will never happen
| |
| | |
06-30-2012, 10:28 AM
|
#34 | | I answer every Emotion with an emoticon
Join Date: Apr 2005 Location: Vancouver
Posts: 7,760
Thanked 375 Times in 181 Posts
Failed 159 Times in 63 Posts
|
I have a friend who just bought a 1M house and all his and his wife's income go to mortgage payments with just enough left to live. Some ppl just really must have a house and that mentality also fuel the high real estate price.
| |
| | |
06-30-2012, 12:56 PM
|
#35 | | I don't get it
Join Date: Feb 2004 Location: vancouver
Posts: 432
Thanked 0 Times in 0 Posts
Failed 0 Times in 0 Posts
| Quote:
Originally Posted by q0192837465 I have a friend who just bought a 1M house and all his and his wife's income go to mortgage payments with just enough left to live. Some ppl just really must have a house and that mentality also fuel the high real estate price. | True...But what's going to happen when the interest rates go up? They're going to be in a very tough situation, and from what your saying they're already in over their heads.
__________________
go big or go home!
| |
| | |
06-30-2012, 01:13 PM
|
#36 | | WOAH! i think Vtec just kicked in!
Join Date: Apr 2004 Location: Vancouver
Posts: 1,687
Thanked 731 Times in 294 Posts
Failed 76 Times in 29 Posts
| Quote:
Originally Posted by bananana So much entitlement in this thread. The government didn't plan for all of you to work $40K jobs. Do something about your situation - Can't afford it? Learn things. Work smarter. Do something about it. | When doctors and professionals have trouble buying homes in the city, it is a cause for concern. Going by the old rule of 4x your income, if you make $100,000. You buy a $400K property. In Vancouver, that's a condo.
This is causing long term problems where it drives other people away because they can't afford housing and reduces the talent pool.
| |
| | |
06-30-2012, 01:18 PM
|
#37 | | WOAH! i think Vtec just kicked in!
Join Date: Apr 2004 Location: Vancouver
Posts: 1,687
Thanked 731 Times in 294 Posts
Failed 76 Times in 29 Posts
|
In Toronto, the foreign buyers, (when I say foreign, I mean foreign money. These people may have PR or even citizenship here, but the money is foreign), they are buying 5-10 units in these new condos are that coming up in Toronto.
This combined with speculators that buy to take advantage of this situation and we have huge increases in RE prices.
My friend recently sold 4 pre-sale units to a mainland chinese lady (Foreign money) in one of the new condos coming up by Metrotown
| |
| | |
06-30-2012, 01:48 PM
|
#38 | | My AFC gave me an ABS CEL code of LOL while at WOT!
Join Date: Dec 2003 Location: vancouver, B.C.
Posts: 1,843
Thanked 563 Times in 229 Posts
Failed 63 Times in 31 Posts
| Quote:
Originally Posted by Eastwood The reason house prices are high aren't due to a significant portion of the population making more than 40k, its due to foreign buyers. If you search other parts of the country, the house prices are priced relative to what the average buyer earns. | I don't think RE prices can be explained by just one factor alone, foreign ownership is but one component (and what % of sales are they even responsible for? what exactly is the definition of foreign? how do you distinguish between a buyer who immigrated long ago and those who recently came? is anyone even keeping track of the data? seeing repeated segments on the news should not be your only source of info). Obviously there are multiple factors including being fueled by a ~6-7 billion dollar marijuana industry and easy access to credit.
And there are very few places I would consider living in Canada, even if there are places where the price to earnings ratios are much much lower. This perception helps fuel prices as well.
__________________
Cars:
02' Lexus IS300 5spd
07' BMW 323iA
05' BMW Z4 5spd
06' BMW 330i 6spd
10' Audi A4 quattro
08' BMW M3 6spd
15' Kawasaki Ninja300
08' Yamaha R6
10' Honda Ridgeline
17' Audi Q5
16' BMW X5D
Last edited by bing; 06-30-2012 at 02:56 PM.
| |
| | |
06-30-2012, 02:25 PM
|
#39 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,034
Thanked 2,552 Times in 1,158 Posts
Failed 81 Times in 54 Posts
|
To a certain extent, the whole foreign ownership criticism is just thinly veiled racism. If there were a bunch of rich people from Western Europe who were snatching up condos, I bet you wouldn't hear nearly as much criticism.
If you're a person who wants to buy a home, sure it sucks to a certain extent. But, we live in perhaps one of the most renter-friendly jurisdictions in North America. Not only that, but owner-investors who got in the market over the past 5 years are probably not all that keen about rising interest rates. As long as you're normal and gainfully employed, the rental market Metro Vancouver is your oyster.
| |
| | |
06-30-2012, 03:22 PM
|
#40 | | My AFC gave me an ABS CEL code of LOL while at WOT!
Join Date: Dec 2003 Location: vancouver, B.C.
Posts: 1,843
Thanked 563 Times in 229 Posts
Failed 63 Times in 31 Posts
|
^agreed, because it's easy to scapegoat immigrants, in this case 'foreign money' for our own economic and cultural insecurities.
__________________
Cars:
02' Lexus IS300 5spd
07' BMW 323iA
05' BMW Z4 5spd
06' BMW 330i 6spd
10' Audi A4 quattro
08' BMW M3 6spd
15' Kawasaki Ninja300
08' Yamaha R6
10' Honda Ridgeline
17' Audi Q5
16' BMW X5D
| |
| | |
06-30-2012, 03:28 PM
|
#41 | | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004 Location: Vancouver
Posts: 10,645
Thanked 2,191 Times in 1,131 Posts
Failed 929 Times in 340 Posts
| Quote:
Originally Posted by asian_XL time to learn from Singapore, they have land policy "Singapore land for only Singaporean", no citizenship, can't buy fuck. | I like that idea. Make it so you need to stay within canada for at least 10 years before you can buy a property.
| |
| | |
06-30-2012, 05:19 PM
|
#42 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
Posts: 16,539
Thanked 7,708 Times in 3,623 Posts
Failed 1,507 Times in 645 Posts
| Quote:
Originally Posted by Mr.HappySilp I like that idea. Make it so you need to stay within canada for at least 10 years before you can buy a property. | What if the person wants to buy a property to start a business?
Look at all the Canadians who buy vacation property in places like Florida, Arizona and Vegas. People should be allowed to buy property where ever they want.
My cousin has been in Canada for less that 6 years and is now married with kids owns a house with his sister who is married and has started his own roofing company. This from a person who doesn't have his grade 12 and never used a nail gun until 3 years ago.
If you can't afford a house move. People do it all the time.
__________________
Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
| | |
06-30-2012, 05:49 PM
|
#43 | | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004 Location: Vancouver
Posts: 10,645
Thanked 2,191 Times in 1,131 Posts
Failed 929 Times in 340 Posts
|
^^ yes lets keep letting the rich forgiens who have no desire to stay in Vancover or be part of Canadians buy our land. Keep thinking that till all the ppl work in BC sleep on the streets and under bridges just like what Vegas is turning into.
Or we could turn in HK where unless you make 6 figures all you will ever get is a room with 200sq feet share the house with 20+ other ppl.
Which option whould you like?
| |
| | |
06-30-2012, 05:55 PM
|
#44 | | Wanna have a threesome?
Join Date: Oct 2010 Location: Squamish
Posts: 4,889
Thanked 5,054 Times in 1,657 Posts
Failed 439 Times in 203 Posts
|
I have not seen legitimate evidence that foreign buyers are the primary basis for Vancouver housing prices; only speculation with very little, if any, supporting evidence behind it.
| |
| | |
06-30-2012, 06:03 PM
|
#45 | | My homepage has been set to RS
Join Date: Jan 2012 Location: vancouver
Posts: 2,447
Thanked 1,759 Times in 545 Posts
Failed 1,107 Times in 281 Posts
|
Don't let this get to you, the prices might go lower.  | |
| | |
06-30-2012, 06:57 PM
|
#46 | | Rs has made me the woman i am today!
Join Date: Dec 2009 Location: Burnaby
Posts: 4,269
Thanked 5,498 Times in 2,067 Posts
Failed 265 Times in 101 Posts
| Quote:
Originally Posted by bananana So much entitlement in this thread. The government didn't plan for all of you to work $40K jobs. Do something about your situation - Can't afford it? Learn things. Work smarter. Do something about it. | The fuck you mean entitlement, asshole? The game is rigged to one side, there's no denying that, it has nothing to do with entitlement you prick.
| |
| | |
06-30-2012, 07:17 PM
|
#47 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
Posts: 16,539
Thanked 7,708 Times in 3,623 Posts
Failed 1,507 Times in 645 Posts
| Quote:
Originally Posted by Mr.HappySilp ^^ yes lets keep letting the rich forgiens who have no desire to stay in Vancover or be part of Canadians buy our land. Keep thinking that till all the ppl work in BC sleep on the streets and under bridges just like what Vegas is turning into.
Or we could turn in HK where unless you make 6 figures all you will ever get is a room with 200sq feet share the house with 20+ other ppl.
Which option whould you like? | People in HK live in a 200 sq room because the country is out of space. Canada is the second largest country in the world. The problem is people in this thread want to live in a little part of Canada called Vancouver. My parents moved half way around the world for a better life people in this thread can't move 30 minutes.
__________________
Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
| | |
06-30-2012, 07:17 PM
|
#48 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
Posts: 16,539
Thanked 7,708 Times in 3,623 Posts
Failed 1,507 Times in 645 Posts
| Quote:
Originally Posted by mikemhg The fuck you mean entitlement, asshole? The game is rigged to one side, there's no denying that, it has nothing to do with entitlement you prick. | That's what the natives said.
__________________
Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
| | |
06-30-2012, 07:31 PM
|
#49 | | Banned By Establishment
Join Date: Apr 2001 Location: Vancouver
Posts: 5,378
Thanked 436 Times in 189 Posts
Failed 439 Times in 89 Posts
| Quote:
Originally Posted by Tapioca To a certain extent, the whole foreign ownership criticism is just thinly veiled racism. If there were a bunch of rich people from Western Europe who were snatching up condos, I bet you wouldn't hear nearly as much criticism. |
I totally agree. White people in urban Canada need to realize that urban Canada is only going to be less white, and to stop worrying about it.
| |
| | |
06-30-2012, 07:45 PM
|
#50 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: May 2005
Posts: 20,406
Thanked 7,468 Times in 1,445 Posts
Failed 2,380 Times in 472 Posts
|
there are so many good property/land policies around the world that could apply to Vancouver, it seems the politicians don't really bother to care, I bet they are getting good money out of this.
Simply look at the population, it hasn't grown that much compare with 10 years ago.
2001 - 1,986,965 | +8.5%
2006 - 2,116,581 | +6.5%
2011 - 2,313,328 | +9.3%
But then, the price has gone up double and double. For reference only, a 2bedroom apartment was under 200K in 2001, then the same apartment went up to 400K in 2006, today, it's already 800K.
Bare in mind, there aren't any difference in terms of our GDP and economic.
| |
| | | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off
| | |
All times are GMT -8. The time now is 03:07 PM.
|
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!
The banners on the left side and below do not show for registered users!
