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 08-24-2016, 01:14 AM   #7876
i like gifs
 
Ch28's Avatar
 
Join Date: Dec 2001
Location: imgur
Posts: 27,179
Thanked 7,785 Times in 2,695 Posts
Failed 4,294,967,295 Times in 169 Posts
Quote:
Originally Posted by Special K View Post
Joys of owning a home. I live in a detached which has a separate garage facing an alley in East Vancouver.

My neighbour has been rolling his green bins over to my side of the fence. It bothers me but it's fine because it causes no trouble.

Now in the summer, they dumped foam insulation in front of my garage (wall part, not gate). I asked him nicely to not place it on my side. He bluntly said "what's your problem, the alley is not your property. I can put it in front of your fence." Me: wtf?

Today, I came home to a portable heater and an ironing board leaning against my garage.

What should I do?? Trying to find an appropriate solution.
Quote:
Originally Posted by Special K View Post
Appropriate measures guys. I'm searching for peaceful resolution, not something that will get my house burned down.

The thing is I don't have undisputable evidence that he put it there. It's easy to toss it back but unlikely to resolve anything.
Superglue every single exposed keyhole he has (cars parked outside, garage door locks, back & front door locks)

Buy several off these (Liquid ASS Fart Spray) and then unscrew the cap and straight up pour that shit into any exterior air vents he has on his car. Guaranteed he'll need several detailing appointments before that stuff will even start to reduce in potency. I guess you could just empty them through his door's mail slot if he has one as well.
Advertisement
Ch28 is offline   Reply With Quote
Old 08-24-2016, 03:55 AM   #7877
Rs has made me the woman i am today!
 
Mr.Money's Avatar
 
Join Date: Jan 2011
Location: Vancouver DT
Posts: 4,322
Thanked 2,797 Times in 916 Posts
Failed 1,257 Times in 270 Posts
bought 2 of those Liquid ASS Fart Spray,that entire fucking thing in a mail box hole is gonna be room filling to say the least.
__________________
Fly Your Own Flag.
Mr.Money is offline   Reply With Quote
Old 08-24-2016, 06:58 AM   #7878
Need my Daily Fix of RS
 
Join Date: Jun 2012
Location: Not Vancouver
Posts: 261
Thanked 282 Times in 89 Posts
Failed 20 Times in 8 Posts
Quote:
Originally Posted by Nlkko View Post
You're quoting a bunch of realtors coming out telling people to buy. I'm sure it will be fine.

It is normal people here fighting for more price increase. They have vested interest. Imagine you have no clue about investment, all of a sudden price went ballistic to the upside. Everyone looks like geniuses "beating the market". They will keep defending if price keep dropping.

Imo, Vancouver is barely at stage 5. Alberta is at stage 8-9.
It's Carl Johnson, what do you expect. Christy Clark could release a statement tomorrow on how she expects Vancouver's economy to grow 800% next year and he'd believe it.
buhdeh is offline   Reply With Quote
Old 08-24-2016, 10:44 AM   #7879
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
Since everyone who doesn't own that coveted detached house is hoping for a crash, let's think of "what if".

Let's say the prices of detached houses in East Vancouver/Burnaby fell to 3 times the median family income. This would mean the average home should sell for 400-500K.

Who here has 100-150k sitting in the bank? Who's actually ready to put down that 20% and can service the payments?
Tapioca is offline   Reply With Quote
Old 08-24-2016, 10:48 AM   #7880
I HERP TO YOU DERP
 
hypediss's Avatar
 
Join Date: Oct 2004
Location: 604
Posts: 1,190
Thanked 235 Times in 103 Posts
Failed 12 Times in 6 Posts
Quote:
Originally Posted by Tapioca View Post
Since everyone who doesn't own that coveted detached house is hoping for a crash, let's think of "what if".

Let's say the prices of detached houses in East Vancouver/Burnaby fell to 3 times the median family income. This would mean the average home should sell it 400-500K.

Who here has 100-150k sitting in the bank? Who's actually ready to put down that 20% and can service the payments?
*raises hand*

but in reality that type of "correction/crash/w/e u call it" would could yield or be a result of a large systematic economic shock that makes all of our jobs be at risk
hypediss is offline   Reply With Quote
This post thanked by:
Old 08-24-2016, 11:25 AM   #7881
"They call me Bowser...RawR!"
 
!LittleDragon's Avatar
 
Join Date: Jul 2001
Location: Vancouver
Posts: 8,236
Thanked 934 Times in 374 Posts
Failed 59 Times in 30 Posts
Quote:
Originally Posted by Tapioca View Post
Since everyone who doesn't own that coveted detached house is hoping for a crash, let's think of "what if".

Let's say the prices of detached houses in East Vancouver/Burnaby fell to 3 times the median family income. This would mean the average home should sell for 400-500K.

Who here has 100-150k sitting in the bank? Who's actually ready to put down that 20% and can service the payments?
Yup... and the dividend from what I didn't use for a downpayment can probably pay for the mortgage payments too. Or at least a large portion of it.
__________________
"Damn fine car Dodge... Ran over me wife with a Dodge!", Zeke
!LittleDragon is offline   Reply With Quote
Old 08-24-2016, 11:34 AM   #7882
My dinner reheated before my turbo spooled
 
Join Date: Oct 2002
Location: vancouver
Posts: 1,766
Thanked 640 Times in 242 Posts
Failed 12 Times in 9 Posts
Quote:
Originally Posted by Tapioca View Post
Since everyone who doesn't own that coveted detached house is hoping for a crash, let's think of "what if".

Let's say the prices of detached houses in East Vancouver/Burnaby fell to 3 times the median family income. This would mean the average home should sell for 400-500K.

Who here has 100-150k sitting in the bank? Who's actually ready to put down that 20% and can service the payments?
Im crossing my fingers this will happen but thats only a dream.
I could buy a detached house, rent it out. Live in my townhouse and wait for the market to come back in a few years.
VR6GTI is offline   Reply With Quote
Old 08-24-2016, 11:49 AM   #7883
RS.net, where our google ads make absolutely no sense!
 
Join Date: Nov 2001
Location: Tokyo/Vancouver
Posts: 978
Thanked 126 Times in 59 Posts
Failed 6 Times in 4 Posts
Quote:
Originally Posted by Tapioca View Post
Since everyone who doesn't own that coveted detached house is hoping for a crash, let's think of "what if".

Let's say the prices of detached houses in East Vancouver/Burnaby fell to 3 times the median family income. This would mean the average home should sell for 400-500K.

Who here has 100-150k sitting in the bank? Who's actually ready to put down that 20% and can service the payments?
There are a ton of people waiting in the wings with those kinds of down payments, or with selling what they have under them. I made that alone from selling my condo i owned for a year and a half.

That kind of correction won't happen without an interest rate increase of minimum 2.5-3.5% plus a mass exodus of people.
i bought in 07 a 650k house at about 6.5% in Vancouver, sure i was eating rice and ketchup for 6 months, but i managed.

Credit is cheap and not going anywhere for the forseeable future
a 10-20% correction would allow a shit ton of ppl waiting on the sidelines at current interest rates to jump into the market.
ncrx is offline   Reply With Quote
This post thanked by:
Old 08-24-2016, 12:14 PM   #7884
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
A 10-20% correction would bring the market back to what it was in 2015; nothing affordable by any means.
__________________
Have an E38? Check out E38Registry.org!

http://www.e38registry.org/
Mr.C is offline   Reply With Quote
Old 08-24-2016, 12:18 PM   #7885
Rs has made me the woman i am today!
 
Join Date: Apr 2007
Location: Langley
Posts: 4,103
Thanked 3,393 Times in 1,284 Posts
Failed 92 Times in 70 Posts
Don't you only need 20% down to avoid paying mortgage insurance?
MarkyMark is offline   Reply With Quote
Old 08-24-2016, 01:43 PM   #7886
I told him no, what y'all do?
 
GLOW's Avatar
 
Join Date: Aug 2006
Location: Vancouver
Posts: 10,134
Thanked 6,008 Times in 2,606 Posts
Failed 104 Times in 66 Posts
Correct.

http://www.cmhc-schl.gc.ca/en/co/moloin/faq_006.cfm

Quote:
3. When does my lender need mortgage loan insurance?
Typically lenders will require mortgage loan insurance if a borrower has a down payment of less than 20% of the purchase price of the home.

By protecting lenders against borrower default, CMHC Mortgage Loan Insurance creates an opportunity for Canadians to realize their dreams of homeownership.
__________________
Feedback
http://www.revscene.net/forums/showthread.php?t=611711

Quote:
Greenstoner
1 rat shit ruins the whole congee
originalhypa
You cannot live the life of a whore and expect a monument to your chastity
Quote:
[22-12, 08:51]mellomandidnt think and went in straight..scrapped like a bitch
[17-09, 12:07]FastAnna glowjob
[17-09, 12:08]FastAnna I like dat

GLOW is offline   Reply With Quote
Old 08-24-2016, 02:01 PM   #7887
RS.net, helping ugly ppl have sex since 2001
 
hud 91gt's Avatar
 
Join Date: Feb 2002
Location: Vancouver
Posts: 8,344
Thanked 3,986 Times in 1,538 Posts
Failed 35 Times in 27 Posts
Quote:
Originally Posted by Tapioca View Post
Since everyone who doesn't own that coveted detached house is hoping for a crash, let's think of "what if".

Let's say the prices of detached houses in East Vancouver/Burnaby fell to 3 times the median family income. This would mean the average home should sell for 400-500K.

Who here has 100-150k sitting in the bank? Who's actually ready to put down that 20% and can service the payments?
"Raises hand". I'd be all over an east side special. Also a reason why it's all under my mattress (figure of speech), as if we see that kind of a drop, I'm assuming most investments would be dropping too.


I'd say 3 of 4 of my closest friends are in a very similar situation as myself. The 4th has the income but I doubt he has 20%, but you never know.
__________________
Crush - 1971 Datsun 240z - Build Thread
The Daily - Rav4 V6 - “Goldilocks”

Last edited by hud 91gt; 08-24-2016 at 02:17 PM.
hud 91gt is offline   Reply With Quote
Old 08-24-2016, 02:05 PM   #7888
RS.net, where our google ads make absolutely no sense!
 
Join Date: Nov 2001
Location: Tokyo/Vancouver
Posts: 978
Thanked 126 Times in 59 Posts
Failed 6 Times in 4 Posts
Quote:
Originally Posted by Mr.C View Post
A 10-20% correction would bring the market back to what it was in 2015; nothing affordable by any means.
Doesn't mean there aren't people who can afford property at this price point at current interest rates.

A 10-20% reduction in a 500k condo to say 420k goes a long way for people shopping at this price segment.

It's the low cost of credit propping prices up.

500K at 6.5% 25yrs 5yr term 3400$ a month
500k at 2.2% 25yrs 5yr term 2200$ a month
750k at 2.2% 25yrs 5yr term 3400$ a month

What I could afford in 2007 500k at 6.5%, vs now is a 750k mortgage at 2.2%, not including any gains in personal wealth ability to put a larger down payment, cap gains i've made in the past 9yrs, or ability to afford more by making more on an annual basis

Last edited by ncrx; 08-24-2016 at 02:14 PM.
ncrx is offline   Reply With Quote
This post thanked by:
Old 08-24-2016, 02:15 PM   #7889
I contribute to threads in the offtopic forum
 
Spoon's Avatar
 
Join Date: Apr 2001
Location: VAN/RMD/BBY
Posts: 2,596
Thanked 1,022 Times in 450 Posts
Failed 54 Times in 30 Posts
Quote:
Originally Posted by Tapioca View Post
Who here has 100-150k sitting in the bank? Who's actually ready to put down that 20% and can service the payments?
I assume most people who don't have money in real estate have it in other forms of investments which more than likely appreciated (just not as crazy as the former).
Spoon is offline   Reply With Quote
Old 08-24-2016, 02:23 PM   #7890
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 ncrx View Post
Doesn't mean there aren't people who can afford property at this price point at current interest rates.

A 10-20% reduction in a 500k condo to say 420k goes a long way for people shopping at this price segment.

It's the low cost of credit propping prices up.

500K at 6.5% 25yrs 5yr term 3400$ a month
500k at 2.2% 25yrs 5yr term 2200$ a month
750k at 2.2% 25yrs 5yr term 3400$ a month

What I could afford in 2007 500k at 6.5%, vs now is a 750k mortgage at 2.2%, not including any gains in personal wealth ability to put a larger down payment, cap gains i've made in the past 9yrs, or ability to afford more by making more on an annual basis
Well, yeah, there's always people who can afford, but will it be enough?

That remains to be seen; go back several dozen pages and you will see many proclaiming that demand would never slow down in Vancouver... Yeah...

August sales numbers are going to be downright ugly.
__________________
Have an E38? Check out E38Registry.org!

http://www.e38registry.org/
Mr.C is offline   Reply With Quote
Old 08-24-2016, 02:26 PM   #7891
RS.net, where our google ads make absolutely no sense!
 
Join Date: Nov 2001
Location: Tokyo/Vancouver
Posts: 978
Thanked 126 Times in 59 Posts
Failed 6 Times in 4 Posts
Quote:
Originally Posted by Mr.C View Post
Well, yeah, there's always people who can afford, but will it be enough?

That remains to be seen; go back several dozen pages and you will see many proclaiming that demand would never slow down in Vancouver... Yeah...

August sales numbers are going to be downright ugly.
No buyers, no sellers

people who arent in need of selling simply won't sell.. i dont see how someone is going to realize an immediate 20% loss unless they're in dire circumstances forcing them to sell

just b/c sales numbers are ugly doesn't mean suddenly everyone's dropping their house on the market for a fat discount
ncrx is offline   Reply With Quote
Old 08-24-2016, 02:32 PM   #7892
14 dolla balla aint got nothing on me!
 
Join Date: May 2013
Location: Richmond
Posts: 619
Thanked 676 Times in 228 Posts
Failed 45 Times in 27 Posts
Quote:
Originally Posted by Tapioca View Post
Since everyone who doesn't own that coveted detached house is hoping for a crash, let's think of "what if".

Let's say the prices of detached houses in East Vancouver/Burnaby fell to 3 times the median family income. This would mean the average home should sell for 400-500K.

Who here has 100-150k sitting in the bank? Who's actually ready to put down that 20% and can service the payments?
Haha everyone jumping at 400-500k. GOOD LUCK!

I and many others will outbid you pretty damn quick

Edit: forgot to mention but you better pray the foreign buyer tax is at 200%

Last edited by kr4l; 08-24-2016 at 03:15 PM.
kr4l is offline   Reply With Quote
Old 08-24-2016, 02:32 PM   #7893
My dinner reheated before my turbo spooled
 
Join Date: Oct 2002
Location: vancouver
Posts: 1,766
Thanked 640 Times in 242 Posts
Failed 12 Times in 9 Posts
Quote:
Originally Posted by ncrx View Post
No buyers, no sellers

people who arent in need of selling simply won't sell.. i dont see how someone is going to realize an immediate 20% loss unless they're in dire circumstances forcing them to sell

just b/c sales numbers are ugly doesn't mean suddenly everyone's dropping their house on the market for a fat discount
.
It would interesting to see how much inventory has come for sale compared to last years august.
People are now hearing the horror stories that the market is slow and not putting anything up for sale
VR6GTI is offline   Reply With Quote
Old 08-24-2016, 02:39 PM   #7894
I contribute to threads in the offtopic forum
 
Spoon's Avatar
 
Join Date: Apr 2001
Location: VAN/RMD/BBY
Posts: 2,596
Thanked 1,022 Times in 450 Posts
Failed 54 Times in 30 Posts
The Fed's getting ready to increase their interest rates if not September then December. While I don't expect the BoC to follow suit immediately, there will be a lot of pressure to do so in a quarter or two. Those will be interesting times.
Spoon is offline   Reply With Quote
Old 08-24-2016, 02:46 PM   #7895
I contribute to threads in the offtopic forum
 
jasonturbo's Avatar
 
Join Date: Feb 2008
Location: North Van
Posts: 2,849
Thanked 7,109 Times in 1,264 Posts
Failed 291 Times in 102 Posts
Some of these comments...???

There is a tremendous number of people with massive equity in their homes strictly through appreciation in the market.

For the people who bought houses @ 750K that are now worth 1.3M, especially the people who own multiple homes... you don't think they will want to cash those chips in if the market sentiment shifts 100% to bearish???? I would rather sell at 1.1M than 900K, and this is why most housing "crashes" happen so quickly.

It's not like most people are losing 200K by selling their homes @ -20% of peak values, many are still walking away with a tidy profit.

It's only the people who have entered the market over the last 5 years that have the potential to really get roasted, those who got in 10-12 years ago have quite the financial cushion.

I doubt prices will ever drop beyond 2008 prices, and personally, I think that price point is completely reasonable.

As I've said before, "affordability" is 100% driven by interest rates... if the rates go up, the prices will come down.
__________________
Quote:
Originally Posted by jasonturbo
Follow me on Instagram @jasonturtle if you want to feel better about your life
jasonturbo is offline   Reply With Quote
This post thanked by:
Old 08-24-2016, 02:49 PM   #7896
RS.net, helping ugly ppl have sex since 2001
 
hud 91gt's Avatar
 
Join Date: Feb 2002
Location: Vancouver
Posts: 8,344
Thanked 3,986 Times in 1,538 Posts
Failed 35 Times in 27 Posts
Quote:
Originally Posted by ncrx View Post
No buyers, no sellers

people who arent in need of selling simply won't sell.. i dont see how someone is going to realize an immediate 20% loss unless they're in dire circumstances forcing them to sell

just b/c sales numbers are ugly doesn't mean suddenly everyone's dropping their house on the market for a fat discount
I think what your missing is the fact people are not robots. Just like people jump in in fear of missing out, they will also jump out in fear of a drop. It's a domino effect. People who just made 40% equity
On their house in a year aren't all that concerned to lose a few percentage points if they think they can outsmart the market, especially if they are stretched (which most Canadians are).


edit: Jason put it much more eloquently.
__________________
Crush - 1971 Datsun 240z - Build Thread
The Daily - Rav4 V6 - “Goldilocks”

Last edited by hud 91gt; 08-24-2016 at 03:18 PM.
hud 91gt is offline   Reply With Quote
Old 08-24-2016, 03:03 PM   #7897
"They call me Bowser...RawR!"
 
!LittleDragon's Avatar
 
Join Date: Jul 2001
Location: Vancouver
Posts: 8,236
Thanked 934 Times in 374 Posts
Failed 59 Times in 30 Posts
Don't forget that price is a lagging indicator. First the volume dries up then price follows months later.

Things are going to be stalled for a while before prices really slide. Everyone remembers the US crash of 2007 but don't know that things peaked and stalled in 2006.
__________________
"Damn fine car Dodge... Ran over me wife with a Dodge!", Zeke
!LittleDragon is offline   Reply With Quote
Old 08-24-2016, 03:24 PM   #7898
Rs has made me the woman i am today!
 
yray's Avatar
 
Join Date: Jan 2012
Location: PENIS
Posts: 4,291
Thanked 4,157 Times in 1,303 Posts
Failed 297 Times in 125 Posts
prices drop 15%

waaahh tax covered, lets buy lah
__________________
There's a phallic symbol infront of my car

Quote:
MG1: in fact, a new term needs to make its way into the American dictionary. Trump............ he's such a "Trump" = ultimate insult. Like, "yray, you're such a trump."
bcrdukes yray fucked bcrdukes up the nose

dapperfied yraisis
dapperfied yray so waisis

FastAnna you literally talk out your ass
FastAnna i really cant
FastAnna yray i cant stand you
yray is online now   Reply With Quote
Old 08-24-2016, 03:30 PM   #7899
Need to Seek Professional Help
 
Join Date: Mar 2003
Location: Vancouver
Posts: 1,091
Thanked 164 Times in 83 Posts
Failed 15 Times in 7 Posts
Why would you do a panic sell when you can rent it out since the rental market is so bad?

I know a few people with multiple properties and are renting out. They aren't talking about selling when it drops they want to pick up more. If they are cash flow positive or covering their mortgages now they'd be even further ahead if they can score a place at a cheaper deal

Foreign buyers are one thing that affected this growth but if I can buy and have someone pay for my mortgage or be positive cf then it makes sense at least for the time being

I bought a place a few months ago with the fiancé. Things are slow now and prices will fall but are we going to sell? No....its just part of the wave and we will ride it out. Not everyone thinks of homes as an investment. We need a place to live and that's why me and my friends bought in
Sw0op is offline   Reply With Quote
This post thanked by:
Old 08-24-2016, 03:37 PM   #7900
RS.net, where our google ads make absolutely no sense!
 
Join Date: Nov 2001
Location: Tokyo/Vancouver
Posts: 978
Thanked 126 Times in 59 Posts
Failed 6 Times in 4 Posts
Quote:
Originally Posted by hud 91gt View Post
I think what your missing is the fact people are not robots. Just like people jump in in fear of missing out, they will also jump out in fear of a drop. It's a domino effect. People who just made 40% equity
On their house in a year aren't all that concerned to lose a few percentage points if they think they can outsmart the market, especially if they are stretched (which most Canadians are).


edit: Jason put it much more eloquently.
sure assuming you have something to downsize too

i have no bone to pick with this, all my properties were purchased pre 2008
whether the market drops 20-50-80%, someone else is paying for them neways
ncrx 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 09:57 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