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11-06-2024, 12:56 AM
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#33576 | | RS has made me the bitter person i am today!
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| Quote:
Originally Posted by PeanutButter  .
It's just the thought of someone today being able to get a job, accumulate that much vacation, get a pension/benefit, buy a house, have it paid off, and then have the opportunity to sell it for close to $2M to fund their retirement is pretty much impossible these days. | Our generation is paying almost $5.5-11K/month for a TH/Duplex to pay for y'all retirement  Quote:
Originally Posted by PeanutButter Now that I see the state of real estate, I have changed my thesis on buying my son a house. I don't think it makes sense to buy a house now and give it to my son later.
It makes more sense to be in the equity markets and let those positions grow. Once he needs a place in 30 years I'll just sell stock to help him with a big down payment or buy him something at that point.
I guess time will tell if that's the right move or not. | SPY has beat even Vancouver housing. This is the move to be liquid, odds are you're probably gonna have to let him have the SFH to have grand kids. Or sell and add $1-1.5M to a bigger house that can fit everyone comfortably
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11-06-2024, 08:19 AM
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#33577 | | Rs has made me the man i am today!
Join Date: Mar 2011 Location: Vancouver
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| Quote:
Originally Posted by snowball Ignoring what happened between 2019-2022, sticking your money in the S&P since ~20 years ago has still yielded a MUCH better return than a house in Vancouver. | For what it's worth, it's always been pretty difficult for an unsophisticated person to invest in stocks - the tools were not easy to use and the knowledge to invest in the right things was hard to get so it makes sense that a lot of people chose something like real estate to invest in. Even if you did sorta know what you were doing (say you did mutual funds) the fees ate up so much of the returns that real estate still looked liked a better bet.
That's the past though b/c it's never been easier to invest with little knowledge - signing up for a Wealthsimple account takes mins and you can set and forget with really low fees and automated investing (in small amounts). Today it's tough to argue that real estate is the easier choice for investing.
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11-06-2024, 09:47 AM
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#33578 | | RS has made me the bitter person i am today!
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I've been advocating robo-investing @ reasonable rates at WS/QT for awhile now.
I thought people were dumb paying 2% on Mutual funds and even 0.40% management fee on rob advising. I didn't realize 80% of people don't invest and the remaining 10-15% will only invest if it's something easy like Mutual funds / Robo advising, so they definitely have a a time and place. It's better to be in those two than spamming HISA/GIC's or High Risk and medium reward investments.
I talk about saving and investment so much in all my group chats over these years. This year was the first time everyone has opened up about hitting their first $100-200K Portfolios by late 20's, it's pretty sick. Quote:
Originally Posted by supafamous
That's the past though b/c it's never been easier to invest with little knowledge - signing up for a Wealthsimple account takes mins and you can set and forget with really low fees and automated investing (in small amounts). Today it's tough to argue that real estate is the easier choice for investing.
| RE is still do-able for the younger generation, just gotta make effort to learn 2nd tier SFH markets on the island, Langley, Kelowna, and Calgary as that's where most of the reward is for slightly higher risk.
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11-06-2024, 10:20 AM
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#33579 | | I have named my kids VIC and VLS
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Does anyone know anyone who actually sold a place and ran with index funds VS more R/E ?
We could probably buy a condo or TH with our portfolio now but I’ve been an advocate of investing for as long as I’ve known about it (early 20’s or so)
I know among most of my asian friends and their parents the stock market is mumbo jumbo and a “fools game” especially for first and second generation immigrants. Mostly to their detriment to their wealth
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11-06-2024, 10:48 AM
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#33580 | | linguistic ninja
Join Date: Aug 2001 Location: Vancouver, BC
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I've been mostly invested in the Market for over 25 years now and I'm Asian. A lot of us are just silently stacking cash but we're pretty quiet about it. It's definitely not as flashy showing off a screenshot of your QT or WS holdings vs driving past by condos and pointing out at towers where you own units. Unlike many in my cohort I don't consider my primary residence an investment no matter what it does.
With the magic of compounding the vast majority of my market gains has been in the past 3 years or so. Whereas if you invested in RE you were constantly being bombarded with "prices only going up" every day for the past 15 years.
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11-06-2024, 10:50 AM
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#33581 | | I have named my kids VIC and VLS
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| Quote:
Originally Posted by CivicBlues I've been invested in the Market for over 25 years now and I'm Asian. A lot of us are just silently stacking cash but we're pretty quiet about it. It's definitely not as flashy showing off a screenshot of your QT or WS holdings vs driving past by condos and pointing out at towers where you own units.
With the magic of compounding the vast majority of gains has been in the past 5 years or so. Whereas if you invested in RE you were constantly being bombarded with "prices going up" every day for the past 15 years. | I guess my statement was too much of a blanket, especially for educated people even first generation etc. which apply to anyone
It’s mostly the uneducated or people who are into the family business etc. which figure cash is king and tangible assets are real compared to numbers in a computer.
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11-06-2024, 11:44 AM
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#33582 | | My homepage has been set to RS
Join Date: Jun 2013 Location: Burnaby
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The tough part of investing for newbies is seeing their account drop in value in the first couple of years.
They just don't understand how the market works. If they see their portfolio drop by 10% they freak the f out and they can't stomach it.
If they can stick it out for a few years and they're in the green, then the worries go away and they have enough of a buffer where the dips don't matter.
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11-06-2024, 03:07 PM
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#33583 | | RS has made me the bitter person i am today!
Join Date: Nov 2010 Location: /
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| Quote:
Originally Posted by Hondaracer Does anyone know anyone who actually sold a place and ran with index funds VS more R/E ?
We could probably buy a condo or TH with our portfolio now but I’ve been an advocate of investing for as long as I’ve known about it (early 20’s or so)
I know among most of my asian friends and their parents the stock market is mumbo jumbo and a “fools game” especially for first and second generation immigrants. Mostly to their detriment to their wealth | I'll probably be the first and report back in 3-5 years lol
Although i have 2-3 friends liquidating as we speak! They can't sell at market price, one of them is selling for a loss vs 2019 purchase price. He overpaid.
I considered dropping a DP for a older $600-800K place as a rental, but net of rent + paying cap gains. The math on the returns suck and we need appreciation of at least 3%/year to make it worth while. So after 7 years they need to be worth around $750 - $1,013K. Quote:
Originally Posted by CivicBlues A lot of us are just silently stacking cash but we're pretty quiet about it. It's definitely not as flashy showing off a screenshot of your QT or WS holdings vs driving past by condos and pointing out at towers where you own units. | When you ask a friend to accept the buzzer to buzz someone up and they notice the black WS Icon and a "You earned a dividend $1,000" notification pops up.
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Last edited by Gerbs; 11-06-2024 at 03:13 PM.
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11-06-2024, 05:46 PM
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#33584 | | y'all better put some respeck on my name
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Is it me or has the local RE market picked up? I'm seeing more sales and more activity at open houses.
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11-06-2024, 05:49 PM
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#33585 | | RS has made me the bitter person i am today!
Join Date: Apr 2014 Location: Van
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Why would it not pick up, no supply, lower rates, demand is the same if not more, we're still letting them in.
Don't forget Trump is president now
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11-06-2024, 05:56 PM
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#33586 | | RS has made me the bitter person i am today!
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I only look at the lower end market but 1BR Condos sub $650K is picking back up and nicer TH/SFH.
There's a finite amount of supply of SFH + sub 500-$600K condos.
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2022 Velo N
2005 S2000
2007 CSX Type-S [Sold]
2002 RSX-S [T-Boned]
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11-07-2024, 05:07 PM
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#33587 | | I *heart* Revscene.net very Muchie
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Imagine spending $5M to buy a house with a 3 acre lot...only have your new neighbours live 10 feet next to you in with nothing in between lol https://www.zealty.ca/mls-R2817656/1...E-Richmond-BC/  
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11-07-2024, 05:27 PM
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#33588 | | y'all better put some respeck on my name
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^
I believe that house next door and lot is included in the price.
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11-07-2024, 05:41 PM
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#33589 | | Rs has made me the man i am today!
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| Quote:
Originally Posted by Harvey Specter ^
I believe that house next door and lot is included in the price. | No, the house next door has it's own Parcel Identifier and address. You can see on BC Assessment. They most likely subdivided it.
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11-07-2024, 06:11 PM
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#33590 | | I *heart* Revscene.net very Muchie
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| Quote:
Originally Posted by Harvey Specter ^
I believe that house next door and lot is included in the price. | It's actually 3 PIDS included on this sale. Also price dropped from $9.9m along with a $30k commission bonus on top of normal selling agent commission split
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11-07-2024, 06:17 PM
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#33591 | | Rs has made me the man i am today!
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| Quote:
Originally Posted by 6thGear. It's actually 3 PIDS included on this sale. Also price dropped from $9.9m along with a $30k commission bonus on top of normal selling agent commission split | I stand corrected
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11-07-2024, 06:25 PM
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#33592 | | I *heart* Revscene.net very Muchie
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Originally Posted by 6thGear. It's actually 3 PIDS included on this sale. Also price dropped from $9.9m along with a $30k commission bonus on top of normal selling agent commission split | The one I posted (11711): Original $8.6M > now asking $5M
The house next door (11511): Original $10M > now asking $4M
Where is the 3rd one?
So they are still asking for $9M for both properties....originally asking $18.6M for a place has that has a combined $6.9M assessment value.
Wild.
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11-07-2024, 06:29 PM
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#33593 | | To me, there is the Internet and there is RS
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Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
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11-07-2024, 06:50 PM
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#33594 | | RS has made me the bitter person i am today!
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So I'm sure this is due to cost. But why don't you build the house in the middle of the lot or in the back? Cost too much to run pipes and roads? Like why would you want to live right off the busy street. Just have the farm garden next to the road.
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11-07-2024, 07:18 PM
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#33595 | | I *heart* Revscene.net very Muchie
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| Quote:
Originally Posted by Hakkaboy The one I posted (11711): Original $8.6M > now asking $5M
The house next door (11511): Original $10M > now asking $4M
Where is the 3rd one?
So they are still asking for $9M for both properties....originally asking $18.6M for a place has that has a combined $6.9M assessment value.
Wild. | PID #1 012-193-3300
PID #2 012-193-3480
PID #3 015-914-7121
Must purchase through MLS R2884841
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11-07-2024, 07:57 PM
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#33596 | | I *heart* Revscene.net very Muchie
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Originally Posted by 6thGear. PID #1 012-193-3300
PID #2 012-193-3480
PID #3 015-914-7121
Must purchase through MLS R2884841 | Ah i get it.
Those above 3xPID is the "newer" house (MLS R2817656) + 2 lots behind it.
The older house next to it (R2884841) has a different PID of 015-914-704. So basically they want to you buy both houses, 4 x PID for $9M.
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11-16-2024, 10:16 AM
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#33597 | | My homepage has been set to RS
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| https://www.redfin.ca/bc/vancouver/1...home/155507034
Thought this house was pretty unique, with the open atrium in the middle of the house. My concern would be if it snowed a lot, you would have to pile up the snow somewhere. I hope the drainage is really good there.
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11-16-2024, 10:21 AM
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#33598 | | I contribute to threads in the offtopic forum
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| https://www.remax.ca/luxury/bc/vanco...1-r2943844-lst
Whaooo... so very love it or hate it type deal... and I assume all custom furniture
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11-16-2024, 10:53 AM
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#33599 | | I have named my kids VIC and VLS
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Outside looks like shit compared to the work on the inside
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11-16-2024, 11:38 AM
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#33600 | | RS has made me the bitter person i am today!
Join Date: Dec 2008 Location: Richmond
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| Quote:
Originally Posted by PeanutButter https://www.redfin.ca/bc/vancouver/1...home/155507034
Thought this house was pretty unique, with the open atrium in the middle of the house. My concern would be if it snowed a lot, you would have to pile up the snow somewhere. I hope the drainage is really good there. | At this price point I'd radiant heat the tiles there and yeah, make sure drainage is taken care of.
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