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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.
Yeah the ferry just sucks. I used to have to go multiple times a year to the in-laws place in Bamfield and it's such a fucking buzzkill for your trip. It got even worse if you couldn't get a reso and you had to go sit upstairs with the screaming kids instead of just watching a movie in your car.
Like said above it's not so much the ferry itself it's having to get there early, sit and wait, followed by more sitting and waiting. It's even more fun if you can't get a reservation and you miss the boat by 5 cars and then have to wait over an hour for the next one.
is the road as rough as some of the private logging roads around cowichan?
It really depends on how recently they graded the road. If it was decent it would take about an hour once you hit the dirt, but it's taken as long as an hour and a half or so if it's really shitty or you get stuck behind some logging trucks
I'm not a fan of the island, quite honestly if I never go there again in my life I'd be indifferent. When I worked in the field I had to go there quite often for different projects, my sister lived there for a short time so visiting her was also a terrible, I remember getting stuck in a line for about 8 hours on a ridiculously hot July day because of cancellations barely getting on the last ferry out that night. In general I just hated the whole ferry experience almost every time I had to do it and the island doesn't have anything I'm interested in that I can't find on the mainland.
To be fair my opinion isn't that valid though because I'm such a hermit. I leave my house maybe twice a week, once to play poker or go out for dinner with the wife and once to get groceries and I travel over a bridge and west of the fraser river no more than 4 or 5 times a year, almost exclusively to watch my son play football on a road game.
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The world ain't all sunshine and rainbows. It's a very mean and nasty place... and I donīt care how tough you are, it will beat you to your knees and keep you there permanently, if you let it. You, me or nobody, is gonna hit as hard as life. But ain't about how hard you hit... It's about how hard you can get hit, and keep moving forward... how much you can take, and keep moving forward. Thatīs how winning is done. Now, if you know what you worth, go out and get what you worth. - Rocky Balboa
I'm not a fan of the island, quite honestly if I never go there again in my life I'd be indifferent. When I worked in the field I had to go there quite often for different projects, my sister lived there for a short time so visiting her was also a terrible, I remember getting stuck in a line for about 8 hours on a ridiculously hot July day because of cancellations barely getting on the last ferry out that night. In general I just hated the whole ferry experience almost every time I had to do it and the island doesn't have anything I'm interested in that I can't find on the mainland.
To be fair my opinion isn't that valid though because I'm such a hermit. I leave my house maybe twice a week, once to play poker or go out for dinner with the wife and once to get groceries and I travel over a bridge and west of the fraser river no more than 4 or 5 times a year, almost exclusively to watch my son play football on a road game.
Can someone school me on leasehold townhomes/condos? Specifically False Creek. I know UBC is leasehold as well, what traditionally happens when the date comes of leasehold expiry. I know in theory, land owner can take back land but what usually happens? What happens if landowner renews?
Hard to get a mortgage for, you can only get a mortgage that is 5 years longer than the time left on the lease. So if the lease is 10 years you gotta pay off your mortgage in 5.
Can someone school me on leasehold townhomes/condos? Specifically False Creek. I know UBC is leasehold as well, what traditionally happens when the date comes of leasehold expiry. I know in theory, land owner can take back land but what usually happens? What happens if landowner renews?
First off, leaseholds you can get a mortgage, address dependent, i.e., UBC/SFU is easier vs Ryan Road in Richmond.
As for False Creek, it's mainly owned by COV, and they're looking to extend leases 10-20 years extra.
Upon leasehold expiry, 3 things can possibly happen
1) lease gets renewed from anywhere up to 99 years
2) owner takes the land back and pays out market value on building value (not land value)
3) option to buy that piece of land (pretty rare)
This is a link to what COV is looking to do for the False Creek area. COV really wants to redevelop the entire area.
Now that I have sold my place, mixed emotions. Will miss condo living, but same time glad to move ahead with opportunity to purchase a bigger home with wife. We've been analyzing our budget what our max purchase budget is, how the heck are people even staying afloat with today's interest rates. It's insane even borrowing $500-700k, literally burn rate on mortgage alone is about $4k a month. My wife and I are your average income person combined, but even then feel stretched thin once accounting for monthly living expenses. Might need to look for a stable weekend job at this rate LOL
^ 4k would definitely get you 700k mortgage, whether if some one can qualify for that amount is a whole another story. I think the test rate is around 8% now?
$4000 a month should cover $600 expenses, tax, strata, heat. That should leave you room for about a $475k MTG. Stress test is at least 7%, whatever rate you pay plus 2%. Much higher if you want to get a HELOC.
Yea the ones that bought last year with a million $ mortgage on a variable is getting fucked right now at let's say 5.8% on a 25y you are looking at over $6300 a month just in mortgage payments.
$4000 might seem like a lot, but the average income household is not taking out a 700K mortgage.
The average Canadian who didn't get lucky and get into real estate 10 years ago is now renting. Facebook groups are full of people who are scrambling to make ends meet when their landlords put their homes up for sale.
Those numbers are pretty realistic in lower mainland. $1m town house, $700k mortgage is pretty realistic. You are poor if your one bed is under $600k. That's an easy $500k mortgage.
The average household in Canada is no longer a prospective home owner. They are long-term renters. Those who are in the market to purchase a home are now in the minority.
Fuck so there’s a house around the corner from us, it’s a dump frankly my kitchen window looks at the back side of it and it looks like rooms have been basically tacked in in the process.they have tried before once or twice to sell in the last 2 years. It has a suite and maybe some sort of potential for a duplex type arrangement
It’s selling for 2.1 - the mortgage calculator to purchase this property says at the current available rates if you can put $400,000 down, your monthly payments will only be 9,000 a month….
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Dank memes cant melt steel beams
I really thought there would be more inventory right now as people start selling due to these oppressive mortgages.
A lot of the population with a mortgage have fixed rate mortgages with terms remaining, so haven't seen any changes to payments or rates whatsoever. Even variable rate mortgages havent fully adjusted payments across the board yet - it will take another 12-18 months before these rates are more fully felt across the board.
-Mark
__________________ I'm old now - boring street cars and sweet race cars.
Rumor has it, by online articles, is that 50% of homeowners in BC are mortgage free.
If that's true, that means 25% probably bought 10ish years ago, and have 50% equity
How much of the remaining 25% with mortgages, are entering deep shit phase? Maybe 1/5th assuming most have fixed 5 year terms that are starting to cycle? + The recent buys on variable rates. Or people with spending problems.
That leaves Vancouver with about 5% of people in the oh shit category, but will only become an issue if unemployment creeps up, or rates stay this high for a bit and people burn through their savings?
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Quote:
Originally Posted by Mr.Money i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
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