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03-08-2018, 01:50 PM
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#11501 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
Posts: 22,112
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| Quote:
Originally Posted by Great68  Oh right, everyone can accurately predict when they're going to laid off or transferred. | 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
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03-09-2018, 01:57 AM
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#11502 | | I am Hook'd on RS
Join Date: Feb 2014 Location: vancouver
Posts: 74
Thanked 69 Times in 17 Posts
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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.
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03-09-2018, 06:20 AM
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#11503 | | My dinner reheated before my turbo spooled
Join Date: Jan 2008 Location: Vancouver
Posts: 1,738
Thanked 939 Times in 308 Posts
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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.
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03-09-2018, 07:12 AM
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#11504 | | RS has made me the bitter person i am today!
Join Date: Oct 2006 Location: van
Posts: 4,530
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Lol. Give the new fees time to hit.
These things don't happen overnight..
__________________
Gold is the money of kings;
Silver is the money of gentlemen;
Barter is the money of peasants;
But debt is the money of slaves.
-Norm Franz
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03-13-2018, 04:22 PM
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#11505 | | RS controls my life!
Join Date: Apr 2004 Location: Vancouver
Posts: 721
Thanked 235 Times in 92 Posts
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| Quote:
Originally Posted by d1gbick 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. | 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.
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03-13-2018, 04:45 PM
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#11506 | | I Will not Admit my Addiction to RS
Join Date: May 2014 Location: Home*
Posts: 513
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noticed new listings coming in from REW.ca. seems like prices for detached are dropping already. wonder how long before condos fall.
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03-13-2018, 04:55 PM
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#11507 | | reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004 Location: Vancouver
Posts: 10,645
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| Quote:
Originally Posted by Rallydrv 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.
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03-13-2018, 06:13 PM
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#11508 | | Wunder? Wonder?? Wander???
Join Date: Mar 2015 Location: vancouver
Posts: 221
Thanked 99 Times in 52 Posts
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happyslip, how leveraged are you?
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03-13-2018, 07:48 PM
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#11509 | | RS has made me the bitter person i am today!
Join Date: Oct 2006 Location: van
Posts: 4,530
Thanked 1,170 Times in 625 Posts
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__________________
Gold is the money of kings;
Silver is the money of gentlemen;
Barter is the money of peasants;
But debt is the money of slaves.
-Norm Franz
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03-13-2018, 08:22 PM
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#11510 | | God of Unce
Join Date: May 2008 Location: ASOT
Posts: 7,828
Thanked 167 Times in 43 Posts
Failed 285 Times in 103 Posts
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Drop drop drop!!!
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UNCE! UNCE! UNCE! UNCE! UNCE! UNCE! UNCE! UNCE! UNCE! | |
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03-13-2018, 10:12 PM
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#11511 | | I WANT MY 10 YEARS BACK FROM RS.net!
Join Date: Oct 2007 Location: Vancouver BC
Posts: 22,112
Thanked 9,872 Times in 3,927 Posts
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03-13-2018, 11:29 PM
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#11512 | | RS has made me the bitter person i am today!
Join Date: Oct 2006 Location: van
Posts: 4,530
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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...
__________________
Gold is the money of kings;
Silver is the money of gentlemen;
Barter is the money of peasants;
But debt is the money of slaves.
-Norm Franz
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03-14-2018, 01:49 AM
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#11513 | | I subscribe to the Fight Club ONLY
Join Date: Aug 2007 Location: Paradise, BC
Posts: 7,058
Thanked 6,811 Times in 2,756 Posts
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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 | |
| | | This post thanked by: | AstulzerRZD, Blueboy222, dapperfied, GabAlmighty, Hondaracer, hypediss, mikemhg, minoru_tanaka, Scotsman, Tone Loc, TouringTeg | |
03-14-2018, 06:20 AM
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#11514 | | RS has made me the bitter person i am today!
Join Date: Oct 2006 Location: van
Posts: 4,530
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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.
__________________
Gold is the money of kings;
Silver is the money of gentlemen;
Barter is the money of peasants;
But debt is the money of slaves.
-Norm Franz
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03-14-2018, 10:52 AM
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#11515 | | :inoutugh:
Join Date: Feb 2008 Location: ඞ
Posts: 9,985
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Recommendations for a mortgage broker?
__________________
Posted from NE 1-J W Inglis Building | |
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03-14-2018, 11:27 AM
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#11516 | | My homepage has been set to RS
Join Date: Mar 2004 Location: East Van
Posts: 2,160
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| Quote:
Originally Posted by Traum 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 | 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.
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03-14-2018, 11:35 AM
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#11517 | | 14 dolla balla aint got nothing on me!
Join Date: Jan 2014 Location: Vancouver
Posts: 694
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03-14-2018, 11:42 AM
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#11518 | | Willing to sell body for a few minutes on RS
Join Date: Mar 2002 Location: Victoria
Posts: 10,600
Thanked 5,049 Times in 1,866 Posts
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Where's 4444?
His predictions are finally coming to fruition. It only took 6 years and direct government intervention with the market...
__________________
1968 Mustang Coupe
2008.5 Mazdaspeed 3
1997 GMC Sonoma ZR2
2014 F150 5.0L XTR 4x4
A vehicle for all occasions
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03-14-2018, 11:50 AM
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#11519 | | My dinner reheated before my turbo spooled
Join Date: Jan 2008 Location: Vancouver
Posts: 1,738
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| Quote:
Originally Posted by Great68 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.
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03-14-2018, 11:58 AM
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#11520 | | "They call me Bowser...RawR!"
Join Date: Jul 2001 Location: Vancouver
Posts: 8,237
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Meh, sure he's happy with 400% stock market gains since 2008.
__________________
"Damn fine car Dodge... Ran over me wife with a Dodge!", Zeke
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03-14-2018, 12:03 PM
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#11521 | | My homepage has been set to RS
Join Date: Mar 2004 Location: East Van
Posts: 2,160
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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%.
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03-14-2018, 03:54 PM
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#11522 | | I Will not Admit my Addiction to RS
Join Date: Mar 2003 Location: vancouver
Posts: 593
Thanked 53 Times in 26 Posts
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Originally Posted by TOS'd Recommendations for a mortgage broker? |
PM'd you
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03-14-2018, 04:22 PM
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#11523 | | OMGWTFBBQ is a common word I say everyday
Join Date: Apr 2001
Posts: 5,034
Thanked 2,552 Times in 1,158 Posts
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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.
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03-14-2018, 04:45 PM
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#11524 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 38,013
Thanked 15,182 Times in 6,090 Posts
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Originally Posted by !LittleDragon Meh, sure he's happy with 400% stock market gains since 2008. | who hasnt since then?
in the last two years i've done almost 60% alone.
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Dank memes cant melt steel beams
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03-14-2018, 07:18 PM
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#11525 | | Head Moderator
Join Date: Dec 1982 Location: Great White Nor
Posts: 22,661
Thanked 6,462 Times in 2,081 Posts
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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  reading through it...
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