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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.
Let the oversea buyers buy it lol. Teach them a lesson so they learn not to buy real estate without ACTUALLY visiting the place.
Just so people are aware a lot of the hotels and land along Vancouver to Harrison Hot spring are being purchase by Chinese companies and Chinese investors. Simply because there are more and more Chinese visiting Harrison Hot Spring every year, yet the infractures along the way (IE hotel, restaurant) don't really hit with what these Chinese tourist needs or wants. So what these Chinese companies are doing is trying to create a tour route from China to Vancouver and then to Harrison Hot Spring. Along the way they will built Mega hotels and other type of restaurants to fit these tourist.
I am happy and sad at the same time. i mean yes along Harrison Hot spring there isn't much to eat and the hotel isn't the best till you get to Harrison Hot spring. But this would mean a lot of the local/family owned restaurant, bed and breakfast will most likely shut down.
China to Vancouver route is in an airplane. Harrison hot springS and whistler are both roughly the same amount of time from Vancouver. Whistler is much more tourist oriented and closer to Mercedes dealerships. Maybe they are they going to see sasquatch?
My sister is getting marry this year and she have her own duplex and her husband have his own apartment. Just makes thing easier if things don't work out.
Wow. If they have the financial means to keep 1 property as an investment/rental income, then by all means.
But to say it's planning for the future if things don't work out, real vote of confidence there... I guess it's better than sleeping out on the couch in the living room?
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The duplex is a rental unit so pretty much the rent covers the mortgage and as the the apartment they just got, they have enough have enough to pay for half of the apartment so I am not too worry.
Wow. If they have the financial means to keep 1 property as an investment/rental income, then by all means.
But to say it's planning for the future if things don't work out, real vote of confidence there... I guess it's better than sleeping out on the couch in the living room?
i think it's a savvy move in this day and age of 40-50% divorce rate.
i know that in my relationship, the person that earns more pays all the bills so that we each have approximately equal investment every month, so if something happened, we'd walk away with no financial mess.
after seeing so many people get beaten down by the financial stress of a break up, i think it's just prudent to do things like this.
i have no plans for my better half and i ever breaking up, but life happens, and i want to make sure she's protected.
The duplex is a rental unit so pretty much the rent covers the mortgage and as the the apartment they just got, they have enough have enough to pay for half of the apartment so I am not too worry.
So he paid for half the apartment? Or together they paid for half the apartment? If together, not really the same scenario as what you originally posted. It sounds like 1 property is being kept for investment purposes and not "just in case things don't work out".
Otherwise I hope your sister is planning to have a prenup that says he can't take half her duplex if things go south.
i think it's a savvy move in this day and age of 40-50% divorce rate.
Some also think that multi-family owned homes are also savvy in this day and age of million dollar shacks. I dont. But i also don't think it's savvy to keep a back up home just in case of divorce. Different strokes for different folks.
Some also think that multi-family owned homes are also savvy in this day and age of million dollar shacks. I dont. But i also don't think it's savvy to keep a back up home just in case of divorce. Different strokes for different folks.
My girlfriend is sitting on a pile of cash in the bank and she wants to buy an investment property. She's smart though and her money makes her like 10k every couple months just by investing, so I ask her why she wants to buy? Her answer is that Vancouver's property values will never, ever go down again.
I tell her not to be so sure but she laughs in my face! She's sweet though so I don't pimp slap her.
Some also think that multi-family owned homes are also savvy in this day and age of million dollar shacks. I dont. But i also don't think it's savvy to keep a back up home just in case of divorce. Different strokes for different folks.
Don't look at the property as a property, think of it as an investment. As u rightly say, is it all 50/50 owned, or does he own 1 she owns the other, and the rental net income is split whilst together?
I think it's more about having assets split, but with that the only asset not being the principle residence.
There's not much worse (esp when kids are involved) for a relationship to end and then a house to be sold by force.
And ur right, different stokes for different folks, I like simplicity in my life. Breaking up is a horrid experience, then dealing wih loads of mess after is just a monster headache waiting to happen, so I plan to mitigate this all whilst not losing any potential returns on invested capital... But then again, I'm not "normal"
My girlfriend is sitting on a pile of cash in the bank and she wants to buy an investment property. She's smart though and her money makes her like 10k every couple months just by investing, so I ask her why she wants to buy? Her answer is that Vancouver's property values will never, ever go down again.
I tell her not to be so sure but she laughs in my face! She's sweet though so I don't pimp slap her.
She drank the cool aid... Emotion should never come into an investment decision. Buying real estate is rarely done without emotion...
My girlfriend is sitting on a pile of cash in the bank and she wants to buy an investment property. She's smart though and her money makes her like 10k every couple months just by investing, so I ask her why she wants to buy? Her answer is that Vancouver's property values will never, ever go down again.
I tell her not to be so sure but she laughs in my face! She's sweet though so I don't pimp slap her.
So guys I'm still having difficulties finding a place to rent in Richmond. I've looked at CL and asked some agents but no luck so far. Could someone PM me if they have a better way to find what I need. Would be very helpful to me.
Basic requirements:
-Townhouse or house
-Will allow 3 (very well mannered) Huskies
-2 car (side by side) garage
-In Richmond
-Has fenced backyard
-Budget under $3500
-Can start renting anytime
Will put down a higher pet deposit and prepay 6mths rent in advanced if need be. Will write an agreement to repair/replace anything that is damaged by the dogs ie grass, carpet etc. Price really isn't an issue, just need to find the right place for my family to live till we find a right place to buy. Will rent for roughly 2-5 years to wait for market correction, currency fluctuations, and teardown/building time.
Our interactive guide to the world's housing markets
HOUSE prices are going through the roof. They are rising in 18 of the 23 economies that we track. And in eight of them, prices are increasing at a faster pace than three months ago. Yet there are also weak spots, particularly in Europe. Prices in Spain, which had one of the biggest property bubbles before the crisis, are still falling. They have kept declining in France and Italy too. In contrast, housing markets are buoyant in some northern European countries, notably Britain and Sweden, and especially so in their capital cities (see article).
Since some form of recovery was bound to occur after the housing slump, how worrying are the renewed signs of exuberance? To assess whether house prices are at sustainable levels, we use two yardsticks. One is affordability, measured by the ratio of prices to income per person after tax. The other is the case for investing in housing, based on the ratio of house prices to rents, much as stockmarket investors look at the ratio of equity prices to earnings. If these gauges are higher than their historical averages then property is deemed overvalued; if they are lower, it is undervalued.
Based on an average of these measures, houses are at least 25% overvalued in nine countries. Judged by rents, the most glaring examples are in Hong Kong, Canada and New Zealand. The overshoot in these economies and others bears an unhappy resemblance to the situation that prevailed in America at the height of its boom, just before the financial crisis. Explore the data in our interactive chart below (updated on August 27th 2014) and try to spot which bubble might pop next.
Canada and Australia are both commodity-based economies and recipients of Chinese flight capital in the last 5-8 years look pretty dangerous to me. Vancouver real estate is so tied to the continuous inflow of Chinese elites' money. In order to sustain the upward trajectory in home prices more capital have to continuously to be pumped into the city. Anti-corruption drive and a slowing (but potentially much more) Chinese economy will slow that process. If you are bullish on Vancouver, you'd almost have to be a bull on China. Unfortunately, the story in China is showing cracks all over the place (no pun intended), not just economically too.
Last edited by Carl Johnson; 09-03-2014 at 11:46 PM.
"Hurt" will be the ones who even if the prices half, they still have trouble coming up with a decent amount of down payment. Let say average house value looses a 1/3 of the value tomorrow, the prices is still in the range before Olympics. The wage / job situation has to change, don't expect a hipster barista can be able carry a mortgage by their own. It is great for hedge funds and REITs but no so much of a "typical" Vancouverite.
The market has moderated a bit the last few months. Also the biggest increase are the places where land use / zoning had changed (Cambie, East Van).. if you look at anywhere west of Arbutus, the prices haven't changed much the last few years.
Quote:
Originally Posted by Mr.C
So Canada has the highest ratio of price:rent.
When the bottom falls out of these expensive properties, it's gonna hurt bad.
When the bottom falls out of these expensive properties, it's gonna hurt bad.
How bad will it get?
Just approaching my 5 month anniversary with my girlfriend. She lives on Dunbar just down from Stong's. Such a beautiful neighborhood, the people are so friendly, walking around you can tell people love their houses and put a lot of effort into maintaining them. Sure there are places with 3 foot tall grass that are obviously foreign-owned investments but the majority of people's lawns and gardens are immaculate. The park is full of smiling people and dogs with a good temperament. It is my dream neighborhood and I love how peacefully quiet it is at night compared to Gastown. Holy fuck it is a fucking GONG SHOW here on the weekend.
While on Dunbar I did see native indians brawling in the middle of the street drunk. But hey, whatever, they're indians, what do you expect? Comes with the territory. Kind of like living next to a tuner that specializes in Mustangs, expect the occasional burnout and smile when it happens!
Will her neighborhood drop to a reasonable price? She rents a nice house for around 3k a month. I would love to someday live in that neighborhood but houses are like 2+ mil! Damn.
Will her neighborhood drop to a reasonable price? She rents a nice house for around 3k a month. I would love to someday live in that neighborhood but houses are like 2+ mil! Damn.
is her house worth in that region?
$3K rent for a $2M property.
Using a VERY VERY VERY primitive metric, that place is worth about $550K based on that rental income.
Using a VERY VERY VERY primitive metric, that place is worth about $550K based on that rental income.
I'd pay 550k in a heartbeat. Working 12+ hours a day, staring into smooth 15 FPS GIFs of Christy Mack's pulsating asshole to get the perfect sheen of cum on her brown eye, just so I may afford to live on the West Side.
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Quote:
Originally Posted by multicartual
I'd pay 550k in a heartbeat. Working 12+ hours a day, staring into smooth 15 FPS GIFs of Christy Mack's pulsating asshole to get the perfect sheen of cum on her brown eye, just so I may afford to live on the West Side.
you'd have to find a way to remove all the bruising and swelling though
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