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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
I always wonder how they plan to deal with the grid lock, whether it be Brentwood or City of Lougheed. They are adding numerous buildings with thousands of new residences, but it doesn't look like the surrounding roads are being expanded. The last time I was around Austin and North road area, the traffic was such a nightmare.
There's no plan to deal with the gridlock. There's no capacity to expand the roads as the existing lots come right to extent of the streets.
The City of Burnaby has decided to pursue high density in order to avoid raising taxes to detached owners. The mayor has said this in public numerous times. Detached home owners vote, while new residents living in these town centres don't.
In theory, you're supposed to have less cars if people live next to the Skytrain and by amenities. However, the only people buying these apartments are Asians and they all own cars, sometimes 2 or 3 per household.
Lougheed and north road are jammed right now fairly frequently. I live there, I've experienced it for the last two years.
This time of year when the weather changes Lougheed is sometimes backed up to government (i.e. The mall) with people trying to get onto the highway or further down Lougheed.
It's gonna be crazy with 2-3 new towers let alone 20.
I think eventually if the development goes as far as the picture I posted last page, they will have to restrict vehicle ownership within the buildings
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I do see traffic as a tremendous issue for Vancouver.
The cities really need to start expanding pubic transit and bike lanes if they ever want that dream to work - otherwise we're just going to have terrible traffic problems in 10 years.
Imagine looking back ten years from now and saying "I wish things were the way they used to be" - that's where things are heading.
#makevancouvergreatagain
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Originally Posted by jasonturbo
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I don't understand the allure of brentwood. How will it hold its value when they're building endless giant condos like hot cokes and traffic is just horrendous.
Lougheed mall having 3 skytrains line has a lot of potential and will be the new brentwood 2.0 soon.
Allure of Brentwood for me is:
Closer to more schools.
Transit and close to highway.
Demographic is similar to me.
Amenities with the mall being redeveloped.
I can bike to work.
Brentwood used to have a bus loop before they started building the condos.
Brentwood is good if you work and play downtown, but can't afford the downtown prices. Also, having the highway immediately south is convenient. Plus you're close to areas like the Heights if you want niche shops like Boss Foods, Cioffis, and Chez Christophe. Costco is within walking distance. And it's connected to the Central Valley Greenaway which allows you to bike downtown within 40 minutes.
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Quote:
Originally Posted by Hondaracer
Lougheed and north road are jammed right now fairly frequently. I live there, I've experienced it for the last two years.
This time of year when the weather changes Lougheed is sometimes backed up to government (i.e. The mall) with people trying to get onto the highway or further down Lougheed.
It's gonna be crazy with 2-3 new towers let alone 20.
I think eventually if the development goes as far as the picture I posted last page, they will have to restrict vehicle ownership within the buildings
Hard to do unless apartments don't come with parking. When I purchase my unit at The Met2 and unit below 10th floor don't have parking. I am going to have fun towing ppl's car if they ever park in my parking stall.
Brentwood was one of the first places to bring all this density in one spot to Burnaby. There isn't much other allure than the skytrain, shopping mall, and the hope that it'll be great.
Metrotown was almost at the same point, but they are abit more spread out, with TheMet towers on the East. The towers going up along Beresford (Central Blvd) on the South, and Station Square in the NorthWest.
If you guys start digging around, Concord (IIRC) wants to place 3-4 towers on TheBay & Sears outside parking lots on the North side of Metrotown. If that goes through, I'm not really going to a shopping mall period anymore.
Brentwoods traffic will be 100% fucked once that development is complete. As no expanded road infrastructure is planned, just more traffic lights.
Kingsway infront of Metrotown is already fucked, and will only get worse if that development by Concord happens.
Lougheed & North Rd are terrible already, and with that development, not much can be done for ways of expansion. Another mall to get fucked.
Yet I'd still rather live in New West/Burnaby than Vancouver.
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Originally Posted by murd0c
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If China is using financial means to take over the major cities in Canada, it's sure working. All this money going into real estate seems to have fueled into densification, by building luxury apartments. No one can really afford to buy a Vancouver detached home anymore, so the next best thing is buying into an apartment, where the money goes back into HK triad? If it is indeed owned by a Triad member.
But since we're in Canada, what are the chances of the government seizing property of non-canadians? Is the flow of money into our city allowing infrastructure to grow? By building towers, does it allow a path for other services and opportunities to open up?
says is dishing out $4,500 a month in rent to live in a Kitsilano house she loves, but she can’t afford her own. “I’m actually living in the city, paying a huge amount of rent and not feeling supported.”
doesn't want to live anywhere else cuz she loves Kits
cries about having to paying $4500 a month
I do see traffic as a tremendous issue for Vancouver.
The cities really need to start expanding pubic transit and bike lanes if they ever want that dream to work - otherwise we're just going to have terrible traffic problems in 10 years.
Imagine looking back ten years from now and saying "I wish things were the way they used to be" - that's where things are heading.
DT and Vancouver proper are much safer investment wise for property values. Outlying areas where land is cheaper, think surrey, Coq, mission, langley, etc. These places will suffer more as values drop, and as we urbanize and increase density.
As our cities mature here in canada, we will move towards a system which is much more like London, Paris, etc, where the city center has the highest values, and outlying areas will decrease in value from there.
Notice how already as we are talking about the market stalling, and prices coming down, DT has not seen any affect. It simply wont. Prices in Vancouver DT will not come down any.
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Quote:
Originally Posted by melloman
Brentwood was one of the first places to bring all this density in one spot to Burnaby. There isn't much other allure than the skytrain, shopping mall, and the hope that it'll be great.
Metrotown was almost at the same point, but they are abit more spread out, with TheMet towers on the East. The towers going up along Beresford (Central Blvd) on the South, and Station Square in the NorthWest.
If you guys start digging around, Concord (IIRC) wants to place 3-4 towers on TheBay & Sears outside parking lots on the North side of Metrotown. If that goes through, I'm not really going to a shopping mall period anymore.
Brentwoods traffic will be 100% fucked once that development is complete. As no expanded road infrastructure is planned, just more traffic lights.
Kingsway infront of Metrotown is already fucked, and will only get worse if that development by Concord happens.
Lougheed & North Rd are terrible already, and with that development, not much can be done for ways of expansion. Another mall to get fucked.
Yet I'd still rather live in New West/Burnaby than Vancouver.
Towers doesn't even need to be built to see that. Try visiting Metro on the weekends and feel yourself. Is pack already. You can hardly found a spot at the food court to eat. You can't even walk fast anymore coz too many ppl like to look at their cell phones while walking slow.
Yeah, second this... family has been looking for a place in DT as a pied-à-terre and it used to be mostly $1000+/sqft, now many have dropped below that mark.
It doesn't take a brain scientist, or a rocket surgeon to realize price should just go down in the same order they went up. The massive increase in value in outlying areas were last to see the huge increase. They will probably the the first to go down. More established areas with smaller increases will slow at a slower rate. The reason the established places were popular in the first place is the reason they will show more stability.
Anyone that doesn't believe prices will drop make me want to pull my hair out.
The federal and local governments are actively trying to stabilize the market. If the
measures they have implicated don't work in 6 months. They will continue with more changes until the market is back to earth.
If you already bought a house or condo in the last 12 months. You bought at a all time high in this cycle. In 10-15 years from now, prices will be higher. Don't panic.
Vancouver is beautiful and my home. However it is not special. We will go through cycles like any other city.
The downturn is when you will find out just how saturated the market is with investors.
If investors don't need to hold an asset that is tumbling in value why would they? After all, they can always buy back later at a lower price after taking profits.
That's the #1 risk to the Vancouver real estate market, there is a tremendous amount of profit taking on the table, once people decide to take those profits, the prices will tank, rapidly IMO.
Under no circumstances would I expect to see any capitulation, people will sooner opt for the long haul, I could see a snap back to 2010-2011 ish prices, but no lower.
I think that's the realistic outcome, but then again, who is buying in Vancouver when 90% of the population has the sentiment of "buy later after prices drop more"?
Interesting times, it's all hypothetical, we exist in the now, and right now, shit is expensive as fuck.
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Originally Posted by jasonturbo
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