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Given what people are prepared to pay for rental housing, you can actually make money or be cash flow neutral with prices approaching $1000/ square foot. Owning real estate is easier to understand than index investing for a lot of people. Real estate is tangible, unlike investing in equities. If they don't want the rental income, they can assign the unit before it completes and hopefully profit without paying GST. |
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I call BS on Hypa's anecdote as this name doesn't make any sense. "Chen" is a Mandarin Transliteration. "Yuen" is a Cantonese one. No idea what "Tek" would be, sounds Fukienese. So maybe "Chan Tek Yuen" or "Chen Tek Yuan", but not "Chen Tek Yuen" ergo: Fake Chinese are buying up everything in Vancouver? :troll: also...Gina Ho? is she the one married to Harry Wang?:lol |
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I'll drop you a line when I'm there. It would be cool to grab a beer and reminisce. :D Quote:
My generic names just couldn't get past you! :awwyeah: |
It looks like some numbers from March have come out: Vancouver Real Estate Condo & Townhouse Report March 2017 Also noteworthy is that condos in Whalley are now at a 99% sales to listing ratio with multiple offers now commonplace. The conversation in this thread has largely turned to how people are planning their exit from Vancouver. But, judging from the activity, people just keep coming and people keep wanting to stay. |
Wonder what my dump would have sold for now as opposed to last year |
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I think it's Chan Lap Tak. Lol |
Where's the Y Axis for context? |
Y-axis is Sales:Active ratio. |
He is asking what the # at the bottom vs top is, not what it is |
Interesting reading about Kamloops and other areas creeping up in price. I believe money made in Vancouver RE is flowing out into the rest of the province. I have witnessed buyers from the lower mainland pickup detached homes in Victoria for well over ask recently. This week my coworker listed his 2009 3 bed 3 bath with detached double garage with suite above it. 1183 Parkdale Creek Gardens in West Hills development in Langford. Practically next to the new Belmont High School. YMCA and shopping a few mins drive. List price $639,900. 5 days, 12 offers later it sold for $755,000 to a buyer from Vancouver likely sight unseen. |
Fuck me, I couldn't imagine living in westhills let alone paying that much for one of those cookie-cutter "houses so close you can hear your neighbor fart" neighborhoods. |
I have a few friends who cashed out of the lower mainland and moved away so that doesn't surprise me at all. Have a few friends still considering Kamloops as well. i couldn't do Kamloops myself but Victoria is a place I'd consider for sure. |
30 year old condos around downtown nearing $1000 sq ft. Krusty clark imposing foreign buyers tax and then handing out first-time buyers loans has created more a clusterfock. Nothing is stopping this runaway train. |
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It helps that I can't stand that horrible woman... |
Liberals will win by double digits. Like her or not at least christy seemingly has a plan. NDP has nothing. I'm more concerned with voting gregor out than Clark |
I still don't understand how Vancouverites keep voting Mayor Moonbeam back in to office? |
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But when the NDP calls you and goes "Vote NDP... but uh, we don't have a candidate running yet! Soon though!" that kind of puts you off voting for them. |
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...lets not forget... Spoiler! :pokerface: |
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I hated the density and commute. I couldn't wait to get out of there. My wife liked the amenities of Langford and she didn't have to deal with the commute. We kept it as a rental when we bought a house in Saanich. |
Anyone else notice the mass amounts of land lot assembles? In my neighbor hood alone. There is at least 4-5 spots, with multiple houses bought up. On sale for investors. Personally. I think all the sales and how well the market is doing is all hype. Driven by the real estate companies in a way for them to continue to make $$$. Seems to me the majority of the sales are investors purchasing for resale (rebuilding houses or condensing them into assemble lots) Basically scaring people into buying overpriced condos/townhouses. Since they can't afford the 1m+ houses That being said. I think the housing prices may stay relatively flat or dip a bit.. BUT the condo/apartment market is waaaay inflated. There is so much space to build more towers and townhousing. It hard to fathom that the prices will stay that high. Especially when there are hundreds of high density buildings being built up |
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Granted I could have had a bigger & newer house for the same money, I'd rather have the bigger lot that I have now with the closer proximity to work. (I'm around Marigold). As a bonus, my work is moving to Glanford/Vanalman so soon I'll be able to walk the 1.8Km to work, almost directly by pedestrian trail. Woot! |
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Over the next 10 years will be interesting as both Brentwood and Lougheed developments are realized. an aditional 30-40 towers in those areas adding literally thousands of units to inventory. If in 10 years these developments are still seeing lineups and sold out pre-sales, it's pretty safe to assume nothing short of a 9.9 earthquake is gonna tank this market. I stand firmly by my theory in that, until a 3000 sq foot house on a 7000 sq foot lot in chilliwack is under $800,000 you're not going to see any sort of fall in prices in the lower mainland. The closer to the city you are, the less susceptible you are to a drop in price imo. shit is bonk my niggas |
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