REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!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!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

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.

Reply
 
Thread Tools
Old 04-23-2016, 02:31 PM   #5851
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 Carl Johnson View Post
Just because we have a differences of opinion you shouldn't take it too personal.
a tad ironic, coming from you
Advertisement
4444 is offline   Reply With Quote
Old 04-23-2016, 11:28 PM   #5852
It's like going crazy when you're already nuts
 
jing's Avatar
 
Join Date: Aug 2005
Posts: 5,903
Thanked 3,066 Times in 793 Posts
Failed 90 Times in 38 Posts
Thoughts on the "Macpherson Walk" development? I had a look at a unit on Irmin St. today and interior finishing seemed pretty standard, with nothing to write home about. A friend's family owns a couple units in one of the buildings and says that noise complaints are a constant issue due to poor sound insulation between floors. That's for the "North" building though, so I'm wondering whether all the buildings in the community are affected.
__________________
my feedback
jing is online now   Reply With Quote
Old 04-24-2016, 04:23 AM   #5853
I *heart* Revscene.net very Muchie
 
Join Date: Jul 2007
Location: BC
Posts: 3,558
Thanked 3,814 Times in 957 Posts
Failed 715 Times in 210 Posts
I think this thread just needs to stick to factual updates on local housing and people can offer some practical advice to others. No more messed up debates on investing strategies, particularly involving Carl guy. I couldn't help but to chime in because the guy speaks as if he understands anything about investing when in fact you can tell he really doesn't. This doesn't mean you can't be successful making money from real estate. There are tons of people who made some solid coins just riding the bullish cycle. Just don't offer any investing advice to anyone because investing in one class of asset focused on one sector can quickly destroy one's equity when timed wrong, and no one can time it right consistently.
flagella is offline   Reply With Quote
Old 04-24-2016, 11:08 AM   #5854
Even when im right, revscene.net is still right!
 
Mr.C's Avatar
 
Join Date: Aug 2010
Location: Richmond
Posts: 1,355
Thanked 1,776 Times in 444 Posts
Failed 195 Times in 67 Posts
The naiveté of people here continues to astound me.

It's *obvious* that these deals that look really weird are made with dirty money. It's obvious that the market is irrational and fueled by international speculation. Our local economy is weak as shit. Locals don't make enough to afford million dollar homes.

It's plain as day to anyone who grew up in a third world country that dirty money is driving the market.

And before anyone comes along and gives me some bullshit spiel about how not *all* money is dirty, by all I mean 90% of it. We all know that the way to be successful in Brazil or China or Russia or whatever is a way that would orobably land you in jail here.
__________________
Have an E38? Check out E38Registry.org!

http://www.e38registry.org/
Mr.C is offline   Reply With Quote
This post thanked by:
This post FAILED by:
Old 04-24-2016, 11:09 AM   #5855
I am Hook'd on RS
 
Join Date: Feb 2016
Posts: 70
Thanked 40 Times in 13 Posts
Failed 0 Times in 0 Posts
.

Last edited by IGTBAR; 04-08-2018 at 08:46 AM.
IGTBAR is offline   Reply With Quote
Old 04-24-2016, 11:14 AM   #5856
"Entertainment" mod.
 
CorneringArtist's Avatar
 
Join Date: Feb 2009
Location: Surrey, BC
Posts: 5,117
Thanked 3,432 Times in 1,051 Posts
Failed 161 Times in 60 Posts
Quote:
Originally Posted by Mr.C View Post
The naiveté of people here continues to astound me.

It's *obvious* that these deals that look really weird are made with dirty money. It's obvious that the market is irrational and fueled by international speculation. Our local economy is weak as shit. Locals don't make enough to afford million dollar homes.

It's plain as day to anyone who grew up in a third world country that dirty money is driving the market.

And before anyone comes along and gives me some bullshit spiel about how not *all* money is dirty, by all I mean 90% of it. We all know that the way to be successful in Brazil or China or Russia or whatever is a way that would orobably land you in jail here.
And if you say anything, you're labeled a bigot or racist despite knowing where the primary source of that dirty money is coming from, in the name "multiculturalism". I don't know it's trying too hard to be PC, or Canadian hospitality, but one of the two is allowing the bending over backwards of regulations.
__________________
Borokusowagen.
CorneringArtist is offline   Reply With Quote
This post thanked by:
Old 04-24-2016, 11:18 AM   #5857
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Posts: 37,742
Thanked 15,067 Times in 6,026 Posts
Failed 2,068 Times in 693 Posts
Quote:
Originally Posted by Mr.C View Post
The naiveté of people here continues to astound me.

It's *obvious* that these deals that look really weird are made with dirty money. It's obvious that the market is irrational and fueled by international speculation. Our local economy is weak as shit. Locals don't make enough to afford million dollar homes.

It's plain as day to anyone who grew up in a third world country that dirty money is driving the market.

And before anyone comes along and gives me some bullshit spiel about how not *all* money is dirty, by all I mean 90% of it. We all know that the way to be successful in Brazil or China or Russia or whatever is a way that would orobably land you in jail here.
yea, we heard ya the first time.
__________________
Dank memes cant melt steel beams
Hondaracer is online now   Reply With Quote
This post thanked by:
Old 04-24-2016, 11:42 AM   #5858
I WANT MY 10 YEARS BACK FROM RS.net!
 
twitchyzero's Avatar
 
Join Date: Oct 2007
Location: Vancouver BC
Posts: 22,109
Thanked 9,871 Times in 3,926 Posts
Failed 881 Times in 421 Posts
Quote:
Originally Posted by buhdeh View Post
Don't forget all the brand new office towers sprouting up with no tenants.

https://www.biv.com/article/2016/3/w...office-market/
https://www.pwc.com/ca/en/real-estat...te-2016-en.pdf
isn't this a common problem in many cities for new office towers?
twitchyzero is offline   Reply With Quote
Old 04-24-2016, 11:45 AM   #5859
OMGWTFBBQ is a common word I say everyday
 
Join Date: Apr 2001
Posts: 5,026
Thanked 2,538 Times in 1,155 Posts
Failed 81 Times in 54 Posts
Quote:
Originally Posted by Mr.C View Post
The naiveté of people here continues to astound me.

It's *obvious* that these deals that look really weird are made with dirty money. It's obvious that the market is irrational and fueled by international speculation. Our local economy is weak as shit. Locals don't make enough to afford million dollar homes.

It's plain as day to anyone who grew up in a third world country that dirty money is driving the market.

And before anyone comes along and gives me some bullshit spiel about how not *all* money is dirty, by all I mean 90% of it. We all know that the way to be successful in Brazil or China or Russia or whatever is a way that would orobably land you in jail here.
I don't think anyone here is naive honestly.

But, given the amount of dirty money in the market, what can you do about it? You either get in or you don't. People have outlined their reasons for getting in/or staying in the market and others have outlined their reasons for staying out.

What's clear is that people have their reasons for the decisions they've made. I agree with flagella and others - no point in trying to change reasons now. I think practical advice is what this thread should be about now.
Tapioca is offline   Reply With Quote
Old 04-24-2016, 12:04 PM   #5860
It's like going crazy when you're already nuts
 
jing's Avatar
 
Join Date: Aug 2005
Posts: 5,903
Thanked 3,066 Times in 793 Posts
Failed 90 Times in 38 Posts
On the topic of irrational decisions, a 1br in the Joyce area sold for 329k just this weekend. A near identical unit in the same building sold for only 270k in February. The average price last year of 600ish sq ft units in the building was roughly $240k, or $360/sqft. Why someone would pay $329k for a 20yo 1br in a building with rental restrictions that would probably need rainscreening in the future is completely beyond me, but it is what it is. The unit was in good condition, but unless you're 50+, you're probably going to want to update it a bit.

403 3628 RAE AVENUE , Vancouver, BC V5R 2P5 MLS®-R2057174 for Sale
__________________
my feedback

Last edited by jing; 04-24-2016 at 12:14 PM.
jing is online now   Reply With Quote
This post thanked by:
Old 04-24-2016, 01:21 PM   #5861
Even when im right, revscene.net is still right!
 
Mr.C's Avatar
 
Join Date: Aug 2010
Location: Richmond
Posts: 1,355
Thanked 1,776 Times in 444 Posts
Failed 195 Times in 67 Posts
Quote:
Originally Posted by Hondaracer View Post
yea, we heard ya the first time.


...but the thread is too entertaining to stop reading

~

MacPherson Walk is interesting. A friend of mine lives in one of the 'older' buildings, it's ok. Weird thing is that a queen bed does not fit properly in the bedroom of the one bedroom suites. He had to switch the door to a sliding door so he could close it.
__________________
Have an E38? Check out E38Registry.org!

http://www.e38registry.org/
Mr.C is offline   Reply With Quote
This post thanked by:
Old 04-24-2016, 01:22 PM   #5862
Even when im right, revscene.net is still right!
 
Mr.C's Avatar
 
Join Date: Aug 2010
Location: Richmond
Posts: 1,355
Thanked 1,776 Times in 444 Posts
Failed 195 Times in 67 Posts
Quote:
Originally Posted by Tapioca View Post
I don't think anyone here is naive honestly.

But, given the amount of dirty money in the market, what can you do about it? You either get in or you don't. People have outlined their reasons for getting in/or staying in the market and others have outlined their reasons for staying out.

What's clear is that people have their reasons for the decisions they've made. I agree with flagella and others - no point in trying to change reasons now. I think practical advice is what this thread should be about now.
Not talking about the people getting stuck between a rock and a hard place. I'm talking about pathetic and weak governments.
__________________
Have an E38? Check out E38Registry.org!

http://www.e38registry.org/
Mr.C is offline   Reply With Quote
Old 04-24-2016, 01:49 PM   #5863
y'all better put some respeck on my name
 
Harvey Specter's Avatar
 
Join Date: Dec 2002
Location: Vancouver
Posts: 18,408
Thanked 9,463 Times in 2,438 Posts
Failed 393 Times in 159 Posts
...

Quote:

VANCOUVER (NEWS 1130) – As the Chinese government tries harder to keep money from leaving its borders, could our housing market be affected?

There’s nothing certain about the way things are going, but with Beijing carrying out wide ranging anti-corruption sweeps as it promises not to devalue the currency, this is a situation worth watching, says Tom Davidoff with UBC’s Sauder School of Business.

“The Yuan got much stronger relative to the Canadian loonie between 2013-2015,” says Davidoff.

“You went from about seven Yuan to a loonie, down to about 4.6, which is a very large percentage change between 2013 and 2015, beginning of 2016. But we’re back to 5.14 now, from about 4.5 which means the Yuan has lost about 10-15 per cent in the last couple of months relative to where it was against the loonie, which means Chinese money buys less Canadian money than it used to, which means it buys less Canadian real estate.”

“So if that trend continues, and if the weakness in oil and the loonie was temporary, it will be interesting to see if that leads to a weakening of prices in Vancouver.”

If it turns out Chinese money is a big factor in our market as some believe and the Yuan drops, Davidoff says there very well could be consequences for our market.

“If we think an important source of demand is the money leaving China, [multiplied by] the exchange rate from Chinese to Canadian money, if we see a fall in the Yuan and nothing happens to capital outflows, it’s a fall relative to the loonie, then yeah, we would expect to see a drop in prices to the extent that people are right that China is a very important source of demand,” says Davidoff.

“Things can go awry with that calculation because more and more money could be flowing out of China, although they’ve tried to stem the flow of capital flows out. but if the flows stay the same, and those flows buy fewer loonies, then we ought to see a price drop.”
Harvey Specter is online now   Reply With Quote
Old 04-24-2016, 01:58 PM   #5864
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 flagella View Post
I think this thread just needs to stick to factual updates on local housing and people can offer some practical advice to others. No more messed up debates on investing strategies, particularly involving Carl guy. I couldn't help but to chime in because the guy speaks as if he understands anything about investing when in fact you can tell he really doesn't. This doesn't mean you can't be successful making money from real estate. There are tons of people who made some solid coins just riding the bullish cycle. Just don't offer any investing advice to anyone because investing in one class of asset focused on one sector can quickly destroy one's equity when timed wrong, and no one can time it right consistently.
anyone can look like an investing genius when everything's going up (even idiots make money in a bull market).

as with all things, buffett has pearls of wisdom - "Only when the tide goes out do you discover who's been swimming naked."
4444 is offline   Reply With Quote
This post thanked by:
Old 04-24-2016, 02:29 PM   #5865
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Posts: 37,742
Thanked 15,067 Times in 6,026 Posts
Failed 2,068 Times in 693 Posts
In regards to that article on the Chinese crackdown, I'll harp back to the same old thing I've been saying previously, is someone that can afford a 5+ million dollar home concerned with a 5/10/15% correction in their currency? In home prices? In taxes? I'd wager probably not. Especially when it's not even about getting any sort of "value" in their purchase.

I have a good friend who sold most of their RE holdings and is now renting in kerrisdale from a Chinese owner who lives in China, she visits a few times a year and has a good relationship with my friend. Friend was interested in perhaps buying the home they are renting and had a sit down with her last time she came by. She kind of laughed at the idea of selling and said she had absolutely no intentions of selling the home, infact she was looking to get into more properties in the area. She said in China the comparables areas far worse than Kerrisdale etc are still double the price of the kerrisdale home.

When you hear it from the horses mouth, it's hard to imagine a slowdown without restrictions heavily enforced.

What's the number that can influence the Vancouver housing market? An influx of 10,000 foreigners per year buying into Vancouver RE? That's fucking peanuts, yet I bet it's enough to influence the market.

Want to know how a vancouverite can afford a house in Vancouver? Own it prior to 2004.

There are enough people out there holding homes with no intention to sell who couldn't otherwise afford the home that supply will always be limited enough to drive the market imo.

Multi-family, and outlieing areas of the lower mainland are a different story though.

As much as Carl Johnson gettin on ppl'a nerves, personally I agree wholeheartedly regarding his stance on Van and being amongst if not the best place in the world to live.

Don't really give a shit what some chick who can't afford a 200k condo and went on a contiki tour to Greece in 05 thinks about "better places to be"
__________________
Dank memes cant melt steel beams
Hondaracer is online now   Reply With Quote
This post thanked by:
Old 04-24-2016, 06:11 PM   #5866
OMGWTFBBQ is a common word I say everyday
 
Join Date: Apr 2001
Posts: 5,026
Thanked 2,538 Times in 1,155 Posts
Failed 81 Times in 54 Posts
Quote:
Originally Posted by Mr.C View Post
Not talking about the people getting stuck between a rock and a hard place. I'm talking about pathetic and weak governments.
Are our governments really "weak and pathetic"?

I talked about the policy levers that our governments have a few pages back. It's a far too complex problem for any one level of government to solve, unless they are willing to risk serious political capital. After all, unlike Brazil or Russia, we have multiple levels of government that all have their own interests and own constituencies. The only way someone challenges the status quo is if there are hundreds of thousands leaving BC and Canada or there's rioting in the streets.

Are people going to riot in the streets over housing prices? Look at what happened to the Occupy movement.
Tapioca is offline   Reply With Quote
Old 04-24-2016, 07:04 PM   #5867
Willing to sell a family member for a few minutes on RS
 
westopher's Avatar
 
Join Date: Apr 2011
Location: North vancouver
Posts: 12,628
Thanked 32,346 Times in 7,533 Posts
Failed 213 Times in 161 Posts
Quote:
Originally Posted by Tapioca View Post
Look at what happened to the Occupy movement.
KONY 2012 Nvr 4get.

People tend to talk about chinese investment like its the only factor. You see a line up of 1000 people to get some shoebox condo, and 600 of them are chinese, it doesn't mean they are all investors. We happen to have a shitload of people with chinese heritage who are canadians now, that are looking for their first (horribly overpriced) homes just like everyone else. Cheap money is a huge factor. Investment (not nearly all foreign) is a huge factor. Fear of being left behind I would believe is the biggest factor. You've got people who actually believe that it will never go back down, when time and time again, people think that about every aspect of the stock market and get proven wrong, with often dire consequences.

On another note. The identical unit in the new phase of my condo building is 16% more than I paid for mine. The new unit also has a shittier view/placement. That was in 8 months.
__________________
98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever View Post
Westopher is correct.
Quote:
Originally Posted by fsy82 View Post
seems like you got a dick up your ass well..get that checked
Quote:
Originally Posted by punkwax View Post
Well.. I’d hate to be the first to say it, but Westopher is correct.
westopher is online now   Reply With Quote
This post thanked by:
Old 04-24-2016, 07:29 PM   #5868
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Posts: 37,742
Thanked 15,067 Times in 6,026 Posts
Failed 2,068 Times in 693 Posts
I heard a stat on the news that mainland Chinese made up approx 27% of the population of the GVA in 2015, up from 14% in 1993

But if dey Chinese in line for dem condos, you know dey foreign investors
__________________
Dank memes cant melt steel beams
Hondaracer is online now   Reply With Quote
Old 04-24-2016, 09:54 PM   #5869
I contribute to threads in the offtopic forum
 
m4k4v4li's Avatar
 
Join Date: Apr 2007
Location: AB
Posts: 2,777
Thanked 234 Times in 96 Posts
Failed 113 Times in 59 Posts
China has the second most billionaires in the world

This is a slippery slope... does the means by which you transfer your earnings out of the country (illegally) de-legitimize the means by which you have earned it?

Last edited by m4k4v4li; 04-25-2016 at 01:29 AM.
m4k4v4li is offline   Reply With Quote
Old 04-24-2016, 10:04 PM   #5870
I WANT MY 10 YEARS BACK FROM RS.net!
 
twitchyzero's Avatar
 
Join Date: Oct 2007
Location: Vancouver BC
Posts: 22,109
Thanked 9,871 Times in 3,926 Posts
Failed 881 Times in 421 Posts
I never understood 'the most _illionaires in the world' metric...they also have the largest population
twitchyzero is offline   Reply With Quote
Old 04-24-2016, 10:10 PM   #5871
OMGWTFBBQ is a common word I say everyday
 
Join Date: Apr 2001
Posts: 5,026
Thanked 2,538 Times in 1,155 Posts
Failed 81 Times in 54 Posts
Quote:
Originally Posted by jing View Post
Thoughts on the "Macpherson Walk" development? I had a look at a unit on Irmin St. today and interior finishing seemed pretty standard, with nothing to write home about. A friend's family owns a couple units in one of the buildings and says that noise complaints are a constant issue due to poor sound insulation between floors. That's for the "North" building though, so I'm wondering whether all the buildings in the community are affected.
A friend of mine lived in this complex for several years. He didn't have any specific complaints about noise, but he did notice more minor annoyances like increasing amounts of garbage and dog excrement in common areas as more of a certain group of people moved in. I would imagine this is an issue in a lot of complexes in the Metrotown area, if you catch my drift.

I wouldn't be too concerned about finishing, particularly if it's not new. You're going to have to re-caulk, re-paint, etc. You can always change the cabinets and flooring, but you can't change the location nor the building itself.

It's a wood frame complex, so you are going to get more noise than a concrete building. However, having lived in a concrete building for 8 years, modern concrete buildings are not what they used to be in terms of sound insulation.

I think you're better off sticking to Edmonds-Highgate if you want something that is still affordable. Have you tried older condos in Burnaby Heights? The Heights is a great location and still pretty diverse.
Tapioca is offline   Reply With Quote
This post thanked by:
Old 04-25-2016, 01:22 AM   #5872
I contribute to threads in the offtopic forum
 
m4k4v4li's Avatar
 
Join Date: Apr 2007
Location: AB
Posts: 2,777
Thanked 234 Times in 96 Posts
Failed 113 Times in 59 Posts
Quote:
Originally Posted by twitchyzero View Post
I never understood 'the most _illionaires in the world' metric...they also have the largest population
what part do you not understand?

economy of scale with a large # of people wanting to leverage their purchasing power parity at best...

4 out of the highest 10 on the housing affordability index are cities in China

Last edited by m4k4v4li; 04-25-2016 at 01:31 AM.
m4k4v4li is offline   Reply With Quote
This post thanked by:
Old 04-25-2016, 01:32 PM   #5873
I help report spam so I got this! <--
 
Join Date: Dec 2010
Location: Vancouver
Posts: 2,867
Thanked 1,215 Times in 535 Posts
Failed 275 Times in 114 Posts
Would never live in a wood frame building. Not interested in listening to the neighbor TV and their kids screaming. And the worst is when they throw a party. Fuck that. Living with that shit does damage to your mental health.

Concrete all the way for me. Make it hard and thick.
Nlkko is offline   Reply With Quote
This post thanked by:
Old 04-25-2016, 01:39 PM   #5874
Even when im right, revscene.net is still right!
 
yameen's Avatar
 
Join Date: Jun 2002
Location: Vancity
Posts: 1,365
Thanked 156 Times in 63 Posts
Failed 37 Times in 20 Posts
starting to look around for a new condo. first time buyer with very little knowledge of anything. been frequenting this thread but there's just too many pages of info. i'm signing up for these newsletters and updates from sites that i see from polygon, magusta, etc. i'm looking for ~$300-400k condo. is it more reasonable to buy a new 1 bedroom condo or an old 2 bedroom condo?

i was looking at prices in burquitlam and they are almsot the same as vancouver. wtf?
how do these prices look?
A plan – 446sf - #206 $197,900*
B2 plan – 578sf - #207 $279,900* & #407 $299,900*
B1 plan – 575sf - #405 $299,900*
yameen is offline   Reply With Quote
Old 04-25-2016, 01:57 PM   #5875
I subscribe to Revscene
 
dat_steve's Avatar
 
Join Date: Jun 2006
Location: Vancouver
Posts: 1,909
Thanked 843 Times in 365 Posts
Failed 12 Times in 9 Posts
Quote:
Originally Posted by yameen View Post
i was looking at prices in burquitlam and they are almsot the same as vancouver. wtf?
how do these prices look?
A plan – 446sf - #206 $197,900*
B2 plan – 578sf - #207 $279,900* & #407 $299,900*
B1 plan – 575sf - #405 $299,900*
at $450-500/sqft, those are nowhere near being the "same" as Vancouver prices buddy lol

by that i mean if you double that $/sqft, then you'll be the Vancouver range
dat_steve is offline   Reply With Quote
This post thanked by:
Reply


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 10:29 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net