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 05-08-2016, 11:59 PM   #6051
reads most threads with his pants around his ankles, especially in the Forced Induction forum.
 
Mr.HappySilp's Avatar
 
Join Date: Mar 2004
Location: Vancouver
Posts: 10,645
Thanked 2,191 Times in 1,131 Posts
Failed 929 Times in 340 Posts
To be honest I really want to sell the pre sale unit I purchase. I mention this to a few friends and they all said if I plan to sell it let them know coz they have friends who are looking at that area and is all ready to pay up......

Got the place for 300k it about 350k now...... in just 2 years.

One of the reasons I am thinking of selling is I want to move to another city, also 1 bedroom 500sq is barely enough for myself let alone if I do get marry 2 person.Literally there are nowhere to go if say we argue. Also, if I am paying my mortgage it would basically take 50 to 55% of my pay every month and then there is the starta fee.

Renting it out is around $1400 to $1500 a month that will cover the mortgage but I still have to pay the starta. Then I run the risk of getting a horrible tenant and they are always a headache to get rip off.
Advertisement
Mr.HappySilp is offline   Reply With Quote
Old 05-09-2016, 01:20 AM   #6052
nah
My homepage has been set to RS
 
nah's Avatar
 
Join Date: May 2001
Location: New Westminster
Posts: 2,339
Thanked 357 Times in 165 Posts
Failed 41 Times in 24 Posts
Quote:
Originally Posted by Tapioca View Post
We won't be bailing this particular couple out because they're public sector workers whose jobs are largely secure. Their main risk is not being sufficiently insured in case of death, cancer, or other long-term disability. A term life insurance policy on $1 million+ won't be cheap.

You're right in that we own all of this debt indirectly through our exposure to the banks via the CPP or our personal mutual funds and indexes. We can't opt out of the CPP and I imagine most amateur investors who are following a passive index strategy have at least 5-10% in Canadian equities.

It's almost a perverse way to justify getting in the market.
You mentioned that they're looking to have kids soon. Have they thought how they're going to pay the mortgage when one of them goes on maternity leave for a year? The max income is $537 or $30,000 a year.

I don't know, the numbers don't make sense to me. Earning $100k and buying a $1.5M house, there's something missing, like an inheritance of some sort.
nah is offline   Reply With Quote
Old 05-09-2016, 06:33 AM   #6053
Head of HR....have a seat on that couch
 
fliptuner's Avatar
 
Join Date: Jan 2003
Location: Coquitlam
Posts: 21,877
Thanked 15,598 Times in 4,324 Posts
Failed 284 Times in 130 Posts
The cost of the house is irrelevant. What matters is how much they have to mortgage. But even if the mortgage is 750k, 100k/yr isn't enough to cover it and still feel relatively safe.
__________________
feedback

Originally posted by v.b.
can we stop, my pussy hurts...
Originally posted by asian_XL
fliptuner, I am gonna grab ur dick and pee in your face, then rub shit all over my face...:lol
Originally posted by Fei-Ji
haha i can taste the cum in my mouth
Originally posted by FastAnna
when I was 13 I wanted to be a video hoe so bad


RSUV #7
fliptuner is offline   Reply With Quote
Old 05-09-2016, 06:48 AM   #6054
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 fliptuner View Post
The cost of the house is irrelevant. What matters is how much they have to mortgage. But even if the mortgage is 750k, 100k/yr isn't enough to cover it and still feel relatively safe.
hang on a minute. are you saying the amount of debt someone takes on is irrelevant?

In the very short term, you are correct, but mortgages are usually 25-30 year debts - that's a long time to suggest debt amount (akin to purchase price) is irrelevant
4444 is offline   Reply With Quote
Old 05-09-2016, 07:12 AM   #6055
Rs has made me the man i am today!
 
Join Date: Mar 2011
Location: Vancouver
Posts: 3,007
Thanked 2,847 Times in 1,222 Posts
Failed 62 Times in 24 Posts
Was in Richmond on Saturday and drove by the house I grew up in as a child - it's out in the farming area (5 road/Blundell) and it's listed now for $2M. It's a 72'x302' lot (half acre) with a 3 bedroom rancher (1500sf) on it.

Back in 1989 my parents sold it for $189K so nearly a 11X increase in "value" in 27 years. Insane.
__________________
Current: 2019 Acura RDX
Gone: 2007 Acura TSX, 2008 Mazda 3 GT, 2003 Mazda Miata LS, 2008 Mazda Miata GT PRHT, 2003 Mazda Protege 5
supafamous is online now   Reply With Quote
This post thanked by:
Old 05-09-2016, 07:15 AM   #6056
Willing to sell a family member for a few minutes on RS
 
westopher's Avatar
 
Join Date: Apr 2011
Location: North vancouver
Posts: 12,625
Thanked 32,340 Times in 7,531 Posts
Failed 213 Times in 161 Posts
Well at least wages are keeping up with inflation!
Wait.......
__________________
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
Old 05-09-2016, 07:49 AM   #6057
Wunder? Wonder?? Wander???
 
stylez2k4's Avatar
 
Join Date: Jun 2004
Location: QSDD
Posts: 213
Thanked 67 Times in 33 Posts
Failed 23 Times in 11 Posts
Quote:
Originally Posted by supafamous View Post
Was in Richmond on Saturday and drove by the house I grew up in as a child - it's out in the farming area (5 road/Blundell) and it's listed now for $2M. It's a 72'x302' lot (half acre) with a 3 bedroom rancher (1500sf) on it.

Back in 1989 my parents sold it for $189K so nearly a 11X increase in "value" in 27 years. Insane.
That is not too outrageous is it?

$189K to $2M over 27 years is an annualized return of 9.13%. The annualized total S&P500 return from Jan 1987 - Jan 2016 is 9.47% (value of $2.4M)

(Used https://dqydj.com/sp-500-return-calculator/)
stylez2k4 is offline   Reply With Quote
This post thanked by:
This post FAILED by:
Old 05-09-2016, 08:06 AM   #6058
Pull Out Towing. Women rescued for free.
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 8,449
Thanked 2,414 Times in 1,283 Posts
Failed 128 Times in 71 Posts
Quote:
Originally Posted by stylez2k4 View Post
That is not too outrageous is it?

$189K to $2M over 27 years is an annualized return of 9.13%. The annualized total S&P500 return from Jan 1987 - Jan 2016 is 9.47% (value of $2.4M)

(Used https://dqydj.com/sp-500-return-calculator/)
Only difference is that, they could have leveraged that $189K. 20% down means $37,800 whereas to hit the S&P numbers, you'd need to have $189K at that time.

So 189K at Jan 1987 gets you $2M today, but $189K is the downpayment for 5 of those units, which would be worth $10M today, assuming they could afford the mortgage payments.
Of course, minus the taxes and interest, so it is less than $10M, but you get the point.
Of course, this is all hind sight and the numbers are no where near that great now for RE from an actual investment point of view.
And of course, we have no clue how much $$$ was spent on the upkeep of the house.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
Quote:
Originally Posted by tofu1413 View Post
and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

(11-0-0) Buy/Sell rating
Christine
Shitvic
Pull Out Towing
SumAznGuy is offline   Reply With Quote
This post thanked by:
Old 05-09-2016, 08:18 AM   #6059
Pull Out Towing. Women rescued for free.
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 8,449
Thanked 2,414 Times in 1,283 Posts
Failed 128 Times in 71 Posts
Quote:
Originally Posted by 4444 View Post
hang on a minute. are you saying the amount of debt someone takes on is irrelevant?

In the very short term, you are correct, but mortgages are usually 25-30 year debts - that's a long time to suggest debt amount (akin to purchase price) is irrelevant
No, he said what is relevant is how much mortgage debt they have, which is n-sync with what you said.

In reality, say they were given a $500K inheritance and came up with the other $250K from selling their condo, so the total mortgaged amount is $750K.
With these numbers, that is less than $3K a month for 30 years @ 2.5%.
And if they rent out the basement, that helps a quite a bit if they can get say $1K.

$100K annually, so roughly $67K take home, or $5583 net income per month.

A little extreme, but still manageable. Of course, if the interest jumps up to 5%, then it jumps to $6404 per month which is really bad.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
Quote:
Originally Posted by tofu1413 View Post
and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

(11-0-0) Buy/Sell rating
Christine
Shitvic
Pull Out Towing
SumAznGuy is offline   Reply With Quote
This post thanked by:
Old 05-09-2016, 09:20 AM   #6060
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 nah View Post
You mentioned that they're looking to have kids soon. Have they thought how they're going to pay the mortgage when one of them goes on maternity leave for a year? The max income is $537 or $30,000 a year.

I don't know, the numbers don't make sense to me. Earning $100k and buying a $1.5M house, there's something missing, like an inheritance of some sort.
Most public sector workers get a top-up payment while on maternity/parental leave. In some cases, organizations will top up payments to 100% of their pre-leave salary.

After year 1, they will likely have child care from their parents which is a significant tax-free benefit.

Quote:
Originally Posted by 4444 View Post
hang on a minute. are you saying the amount of debt someone takes on is irrelevant?

In the very short term, you are correct, but mortgages are usually 25-30 year debts - that's a long time to suggest debt amount (akin to purchase price) is irrelevant
One could argue that buying housing in this market is almost a hedge on security of tenure at this point. The rental market has changed since you've been in town - owner/landlords are selling because the returns are at historical highs. The investors who are buying in their place are simply forcing existing tenants out by flouting the regulations in the RTA. Reasonable, legal housing at reasonable prices in the rental market is increasingly difficult to find. Lots of people are thinking the same thing - sell, invest the difference, and rent.

The couple in question has relative security of employment and the security that their parents are likely going to downsize and help them out if shit really hits the fan.
Tapioca is offline   Reply With Quote
This post thanked by:
Old 05-09-2016, 09:33 AM   #6061
God of Unce
 
Armind's Avatar
 
Join Date: May 2008
Location: ASOT
Posts: 7,828
Thanked 167 Times in 43 Posts
Failed 285 Times in 103 Posts
Ever since I started having interest as a future first-time home buyer, it's getting pretty scary. With all the headlines and news about the housing market here... I don't even know anymore.

What a time to be alive..
__________________
UNCE! UNCE! UNCE! UNCE! UNCE! UNCE! UNCE! UNCE! UNCE!
Armind is offline   Reply With Quote
Old 05-09-2016, 10:05 AM   #6062
Pull Out Towing. Women rescued for free.
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 8,449
Thanked 2,414 Times in 1,283 Posts
Failed 128 Times in 71 Posts
Quote:
Originally Posted by Armind View Post
Ever since I started having interest as a future first-time home buyer, it's getting pretty scary. With all the headlines and news about the housing market here... I don't even know anymore.

What a time to be alive..
Do you have to buy now?
Where are you in your life now?
Single, GF, long term relationship, married?
Are you currently renting or living with your parents?
Only child or siblings?

All these play a part of your decisions. Don't fall into the trap that you HAVE to buy now when you don't. Like what 4444 said, it's only stressful if you let it consume your life.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
Quote:
Originally Posted by tofu1413 View Post
and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

(11-0-0) Buy/Sell rating
Christine
Shitvic
Pull Out Towing
SumAznGuy is offline   Reply With Quote
Old 05-09-2016, 10:29 AM   #6063
I have named my kids VIC and VLS
 
Hondaracer's Avatar
 
Join Date: Oct 2001
Posts: 37,732
Thanked 15,064 Times in 6,023 Posts
Failed 2,068 Times in 693 Posts
Let's say the market continues the way it's been going or even softens slightly over the next 1.5-2 years

I think the fear of being left behind is completely justified if you think the market will continue on as is. If a 1.2 mill house right now is 1.6 2 years from now, even with an unprecedented "correction" you'd still be ahead.
__________________
Dank memes cant melt steel beams
Hondaracer is online now   Reply With Quote
Old 05-09-2016, 10:47 AM   #6064
Wunder? Wonder?? Wander???
 
stylez2k4's Avatar
 
Join Date: Jun 2004
Location: QSDD
Posts: 213
Thanked 67 Times in 33 Posts
Failed 23 Times in 11 Posts
Quote:
Originally Posted by SumAznGuy View Post
Only difference is that, they could have leveraged that $189K. 20% down means $37,800 whereas to hit the S&P numbers, you'd need to have $189K at that time.

So 189K at Jan 1987 gets you $2M today, but $189K is the downpayment for 5 of those units, which would be worth $10M today, assuming they could afford the mortgage payments.
Of course, minus the taxes and interest, so it is less than $10M, but you get the point.
Of course, this is all hind sight and the numbers are no where near that great now for RE from an actual investment point of view.
And of course, we have no clue how much $$$ was spent on the upkeep of the house.
I was referring to the overall increase in value of the asset is not outrageous not the ROI on the capital.
stylez2k4 is offline   Reply With Quote
Old 05-09-2016, 11:04 AM   #6065
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 SumAznGuy View Post
With these numbers, that is less than $3K a month for 30 years @ 2.5%.
.
here's the biggest risk in this analysis - you can't get a 30 year mortgage in canada (unlike the US at 3.x% - which is a fucking steal)

as i've banged on to hell and back, it's a massive leap of faith to expect an average 2.5% interest rate for the entirety of the mortgage amort. if it is, then there's bigger issues, most of which will be the continued fucked up economies of most of the western world = no jobs for a lot of ppl currently employed in vancouver.

you can't pay a cheap mortgage with no job.
4444 is offline   Reply With Quote
Old 05-09-2016, 11:22 AM   #6066
Pull Out Towing. Women rescued for free.
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 8,449
Thanked 2,414 Times in 1,283 Posts
Failed 128 Times in 71 Posts
Quote:
Originally Posted by 4444 View Post
here's the biggest risk in this analysis - you can't get a 30 year mortgage in canada (unlike the US at 3.x% - which is a fucking steal)

as i've banged on to hell and back, it's a massive leap of faith to expect an average 2.5% interest rate for the entirety of the mortgage amort. if it is, then there's bigger issues, most of which will be the continued fucked up economies of most of the western world = no jobs for a lot of ppl currently employed in vancouver.

you can't pay a cheap mortgage with no job.
You are incorrect about the 30 year mortgage.
But the rest I agree with.
Then again, everyone felt the same way about housing 30 years ago when all the people were leaving Hong Kong in preparation for the 97 take over.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
Quote:
Originally Posted by tofu1413 View Post
and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

(11-0-0) Buy/Sell rating
Christine
Shitvic
Pull Out Towing
SumAznGuy is offline   Reply With Quote
Old 05-09-2016, 11:25 AM   #6067
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 SumAznGuy View Post
You are in correct about the 30 year mortgage.
But the rest I agree with.
Then again, everyone felt the same way about housing 30 years ago when all the people were leaving Hong Kong in preparation for the 97 take over.
wait, it's 2027?

i think the global economy and a one time / one location event are slightly different.
4444 is offline   Reply With Quote
Old 05-09-2016, 11:30 AM   #6068
Pull Out Towing. Women rescued for free.
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 8,449
Thanked 2,414 Times in 1,283 Posts
Failed 128 Times in 71 Posts
Quote:
Originally Posted by 4444 View Post
wait, it's 2027?

i think the global economy and a one time / one location event are slightly different.
Smart ass.
30 years ago would make it 1986, when people started to leave Hong Kong in fear of the 97 take over.
Not sure how many HK people looked towards Europe, but there was a pretty big movement to Vancouver.

http://globalnews.ca/news/2444980/th...e-has-changed/

You may be correct about a one time one location event. At this point, only time will tell.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
Quote:
Originally Posted by tofu1413 View Post
and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

(11-0-0) Buy/Sell rating
Christine
Shitvic
Pull Out Towing

Last edited by SumAznGuy; 05-09-2016 at 11:42 AM.
SumAznGuy is offline   Reply With Quote
This post thanked by:
Old 05-09-2016, 11:48 AM   #6069
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
35 year amortizations are still out there. You'd need 20% down for sure though.
__________________
my feedback
jing is online now   Reply With Quote
Old 05-09-2016, 11:48 AM   #6070
God of Unce
 
Armind's Avatar
 
Join Date: May 2008
Location: ASOT
Posts: 7,828
Thanked 167 Times in 43 Posts
Failed 285 Times in 103 Posts
Quote:
Originally Posted by SumAznGuy View Post
Do you have to buy now?
Where are you in your life now?
Single, GF, long term relationship, married?
Are you currently renting or living with your parents?
Only child or siblings?

All these play a part of your decisions. Don't fall into the trap that you HAVE to buy now when you don't. Like what 4444 said, it's only stressful if you let it consume your life.
Looking to buy next year (the thought of paying rent to pay off someone's mortgage is

In the process of finishing up paying off my student loan/New awesome job (probation over in 3 months)

Single

Renting with parents

Got a sibling
__________________
UNCE! UNCE! UNCE! UNCE! UNCE! UNCE! UNCE! UNCE! UNCE!
Armind is offline   Reply With Quote
Old 05-09-2016, 11:56 AM   #6071
Pull Out Towing. Women rescued for free.
 
SumAznGuy's Avatar
 
Join Date: Mar 2002
Location: Hongcouver
Posts: 8,449
Thanked 2,414 Times in 1,283 Posts
Failed 128 Times in 71 Posts
Quote:
Originally Posted by Armind View Post
Looking to buy next year (the thought of paying rent to pay off someone's mortgage is

In the process of finishing up paying off my student loan/New awesome job (probation over in 3 months)

Single

Renting with parents

Got a sibling
Solves your problem.
You won't be able to qualify for a mortgage because lack of employment history to show how much income you make.
Depending how much debt you have, that will reduce how much you can borrow as well.

So for now, unless you can get help from parents, it looks like you may be stuck renting for the next 2-3 years.
__________________
Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off.
Originally posted by The7even SumAznGuy > Billboa
Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
Quote:
Originally Posted by tofu1413 View Post
and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

(11-0-0) Buy/Sell rating
Christine
Shitvic
Pull Out Towing
SumAznGuy is offline   Reply With Quote
Old 05-09-2016, 11:57 AM   #6072
RS has made me the bitter person i am today!
 
Hehe's Avatar
 
Join Date: Dec 2002
Location: YVR/TPE
Posts: 4,802
Thanked 2,887 Times in 1,240 Posts
Failed 626 Times in 198 Posts
Quote:
Originally Posted by westopher View Post
How the fuck anyone could do that makes me actually ill. I can tell you that you can comfortably (and I mean very comfortably) hit the higher 300s, with a 100k+ household income and no kids, but the thought of 500k, never mind 1.5 mil you have basically ruined your life.
Personally I think any higher than the 3-400k though and you are going to start sacrificing the fun stuff. I'm much happier with money to blow on fun and a nice small place than a big place full of Mr. Noodles.
I'd compare the Vancouver housing market to some stupid 19 year old hostess spending all of her money on a coach purse and having nothing left to put in it.
The way bank sees it is that the suite would bring an additional 1k monthly. They did put about 30% down as parents of both sides chipped in... but still, it blows my mind for them considering such an expense when they bring about 6k home. Even with the mortgage-helper, it's going to be very tight for a family of 3 or 4 down the road.

Quote:
Originally Posted by Tapioca View Post
Where are friends' kids going to go to school? Southridge at $15K per year?
I think given the location they picked, Southridge was definitely part of equation. I mean, it's the closest school to their house. How the heck they are going to afford 15k/yr tuition... I don't know. Maybe grandparents would chip in again.
__________________
Nothing for now
Hehe is offline   Reply With Quote
Old 05-09-2016, 12:04 PM   #6073
they call me the snowman
 
originalhypa's Avatar
 
Join Date: Apr 2001
Location: online
Posts: 19,749
Thanked 3,993 Times in 1,374 Posts
Failed 187 Times in 91 Posts
Quote:
Originally Posted by Hehe View Post
I think given the location they picked, Southridge was definitely part of equation. I mean, it's the closest school to their house. How the heck they are going to afford 15k/yr tuition... I don't know. Maybe grandparents would chip in again.
Good luck with southridge.
Not only do you need the ability to pay the tuition, but you also have to fit into their high standards for both students and family and go through a rigorous interview process.
originalhypa is offline   Reply With Quote
Old 05-09-2016, 12:05 PM   #6074
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 leasehold property? Price doesn't seem to be as badly affected by these dramatic increases. Assessed value rises in the same linear progression as similarly aged properties but assessed doesn't mean anything in this market. Would be living in for 3-5 years.
__________________
my feedback
jing is online now   Reply With Quote
Old 05-09-2016, 12:26 PM   #6075
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
^ First Nation's land or City of Vancouver land?

It's hard to say as it depends on the length of time remaining on the lease, the location (Champlain Heights, Fraserview, south False Creek, or Park Royal), and what the property is (strata vs leasehold detached). But, a potential red flag is your ability to secure financing for such a leasehold property.

In the appraisal community, 99-year prepaid leasehold is equivalent to an equivalent freehold property in value. If you're buying brand new leasehold, you might be able to find out buyer in 3-5 years time as the spread and desirability between the two properties is small.
Tapioca is offline   Reply With Quote
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 03:38 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