and how hard is it to have a channel where you can submit your RoE to show you've been laid off?

if you've relocated here and there's a chance you'll be transferred, stay renting

i don't even know how much flipping is affecting the market...but all the measurements so far seems to be faux pas

so get this, I got caught up in the action and put a deposit down for a 1 bedroom in Pier West - New West waterfront that was mentioned a few posts back. 700k 580sq feet 1 bedroom water view way up high. Thought it was crazy, have the rescission in place until this Sunday. Now my friend is trying to buy a unit and the whole first tower is sold out. Did not believe that would be the case before the public on sale but the sales center guy showed me pics of all the deposit bank drafts

Realtor said to hold on to it and cash in min 50k in a year.

Congrats on your purchase.
All the finger pointing and government intervention has not cooled this run away market down.
We clearly have a supply issue with immigrants and grown kids with parents help needing places to live.

Lol. Give the new fees time to hit.
These things don't happen overnight..

That's not terrible - cheapest one was $640K I saw for allocations.
$800K 2BR are decent.

Hectic month - sorry not much time for update.

Park House Cambie opening this week
$780K starting for 552ft starting.
Realistic 850-900k for 661FT one and den.
$1400/ft

Fraser Commons Old Motel 8 & Town+Country Bowling House
Fraser & Marine Drive - prime spot for mixed commercial building
363 Units. Will be super hard to get units here. I'd pick here over Coquitlam but no skytrain is an issue. Serracan = former Wesgroup people, flagship project so you know it'll be decent.
$460K starting for 458ft, no parking. $700K 1BR and $950+ for 2BR being realistic.

noticed new listings coming in from REW.ca. seems like prices for detached are dropping already. wonder how long before condos fall.

Depends on the area. If the area is good I doubt it will drop at all.

happyslip, how leveraged are you?

February detached sales 27 year low

https://vancitycondoguide.com/vancou...february-2018/

Drop drop drop!!!

I just don't know where our spend happy government is going to get it's revenue after the golden goose has been strangled.

Real estate/construction make up 25% of BC's GDP.
And that's only one of the sectors set to take beatings...

An overpriced real estate sector is not a golden goose that feeds the family. Rather, it is a mild liquid poison that gradually kills you over time.

On a different note, I came across this engineering drawing from the CoV, circa 2003. It shows peat (bogs), soil status, and historic waterways of the city, and this info could be tremendously useful for any potential CoV home buyer.

http://yourhometeam.com/assets/uploa...-vancouver.pdf

I agree. And it's been a long time coming. But that doesn't change the fact that it is a huge revenue stream. One that our economy is very dependant on.
I just worry that these policy changes are too much too fast.
It's a pretty volatile economy right now, to say the least.

Recommendations for a mortgage broker?

In addition to the the link you provided, it is also important to understand how water drains in Vancouver... ie. I personally wouldn't be buying into anything along Marine Drive in the River District area based on assessments from engineers. The new stuff might be ok, but I wouldn't touch the older stuff. The same goes for anything in Queensborough.

Where's 4444?

His predictions are finally coming to fruition. It only took 6 years and direct government intervention with the market...

Haha he died off a long time ago. Thank god.
If you listened to him back in the day you would be missing out on 100% gains.
If and when the correction comes...we'll be back to 2015 levels.

Meh, sure he's happy with 400% stock market gains since 2008.

Sales have slowed but prices are yet to really sink. There could be a slight correction... but a lot of people are going to want to trade up to single family if the prices go down by 10 to 15%.

PM'd you

There was a correction in 2009 and a plateau in 2013.

A correction in detached homes means nothing for the majority of prospective buyers under the age of 40 without current equity as the cost of these homes is still out of reach for all but the highest earning families.

However, as many in this thread have been saying for the last 6 to 12 months, it is now a very good opportunity to upgrade if you have owned a condo or townhouse with several years of equity as the gap between strata and detached hasn't been this close in quite some time.

who hasnt since then?

in the last two years i've done almost 60% alone.

Went back through the first few pages of this thread. Having lived through the "future" everyone was trying to predict five years ago, it's interesting to see where we now are in terms of RE.

Definitely some :facepalm: reading through it...