Vancouver's Real Estate Market

[dinosaur]

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THERE IS A GLITCH IN THE MATRIX!!!!!

[Iceman-19]

Originally Posted by dinosaur

Posted via RS Mobile

I totally agree.

[subordinate]

Edit, I'm an idiot,

The landeway home near kings/knight sold for 549,000...2 years ago...lol

[dinosaur]

Fucking retarded....but comparatively, its not a bad buy considering its competition.

If you compare it to the 750 sq. ft. 2 bedroom apartments with 2 windows at 600k, this is a fucking bargain AND you get a yard and parking.

[Gridlock]

Photos: 10 Vancouver homes at rock-bottom prices ? starting at $519,000

"rock bottom prices"

Quality reporting.



Only in this dumb city is that 650k.

"Hey Carl, before we sell the Knight street mandsion, you reckon we shud pain it?"

"No need Betsy, no need."

[4444]

Originally Posted by Gridlock

Photos: 10 Vancouver homes at rock-bottom prices ? starting at $519,000

"rock bottom prices"

Quality reporting.



Only in this dumb city is that 650k.

"Hey Carl, before we sell the Knight street mandsion, you reckon we shud pain it?"

"No need Betsy, no need."

Fuck me

You could live in squallar, in a rough part of town (with no decent transit options), for $600-$750k.

Or you could rent a much newer place In a much better location for less.

Tough decision, Vancouver, really fucking tough

[Gridlock]

Originally Posted by 4444

Fuck me

You could live in squallar, in a rough part of town (with no decent transit options), for $600-$750k.

Or you could rent a much newer place In a much better location for less.

Tough decision, Vancouver, really fucking tough

Are you high?

You buy this for 659k...a BARGAIN, I don't even want to negotiate it, you tear that sumbitch down and put up a new house for 250k, with an income producing suite...hello!

You are only in for 909k. Under 1 million!

You can call me at my office to arrange a viewing, 1-800-REALTORB.

THE 'B' IS FOR 'BARGAIN'.

[Great68]

Originally Posted by 4444

Fuck me

You could live in squallar, in a rough part of town (with no decent transit options), for $600-$750k.

Or you could rent a much newer place In a much better location for less.

Tough decision, Vancouver, really fucking tough

Squalor is defined by the state of sanitation the occupants choose to live in (Like some of Gridlock's tenants with junk, garbage and rotting food so thick you can't walk through a place) not by how pretty a house is.

Price of that house aside, someone could live comfortably and cleanly in that house just fine. To say they'd be living in squalor just because the house is ugly and old is pretentious and stuck up.

[Carl Johnson]

660k to live on knight street... i never knew ambulance/fire/police sirens and semi trucks' tire noise were such delightful melodies.

[Gridlock]

Originally Posted by Great68

Squalor is defined by the state of sanitation the occupants choose to live in (Like some of Gridlock's tenants with junk, garbage and rotting food so thick you can't walk through a place) not by how pretty a house is.

Price of that house aside, someone could live comfortably and cleanly in that house just fine. To say they'd be living in squalor just because the house is ugly and old is pretentious and stuck up.

Yes yes yes we know that. He knows that...the point he was making was that its a pretty shitty house in a go nowhere neighborhood for 660k.

And hey! I don't have shitty gross tenants! I have ONE hoarder out of a couple buildings and that's because the last time I brought it up he started crying and talking about his depression.

I'm trying to avoid finding bodies here, you know?

660k! That's officially nuts. There's 20 more in that article. These are the "bargains" that Vancouver Sun decided to inflate a news story about. You know, I get that there is an advantage to buying early. You should have grandparents that tell you they bought their house for a nickel back in 1885, because a nickel was worth soooo much more, but this is insane. Twenty and thirty somethings living in a million dollar house on financing, because no one is going to say, "what a great fixer that we'll work on for 20 years" like our parents did. Nope. Miley Cyrus that bad boy to the ground and mcmansion it.

Money is free

[GLOW]

Originally Posted by Great68

Squalor is defined by the state of sanitation the occupants choose to live in (Like some of Gridlock's tenants with junk, garbage and rotting food so thick you can't walk through a place) not by how pretty a house is.

Price of that house aside, someone could live comfortably and cleanly in that house just fine. To say they'd be living in squalor just because the house is ugly and old is pretentious and stuck up.

thanked you b/c my house is also old and looks rough on the outside (not quite as bad as that example) but is actually pretty decent on the inside. i like to tell my friends i live on the inside so i made sure i made it work and that i'm comfortable.

[4444]

Originally Posted by Great68

Squalor is defined by the state of sanitation the occupants choose to live in (Like some of Gridlock's tenants with junk, garbage and rotting food so thick you can't walk through a place) not by how pretty a house is.

Price of that house aside, someone could live comfortably and cleanly in that house just fine. To say they'd be living in squalor just because the house is ugly and old is pretentious and stuck up.

Right, I stand by my comment, those places are minging.

And I'm not just referring to how they look, I could never live in those conditions after dropping $600k - you call me stuck up, I call me hard working, well educated, and thus expecting better for myself (not some self righteous parent funded bullshit)

I'm sorry if I want better for myself, based on my hard work and years of sacrifice whilst I educated / still educate myself. If you call that stuck up, fine, you're welcome to live in a $600k shit hole

[4444]

Originally Posted by GLOW

thanked you b/c my house is also old and looks rough on the outside (not quite as bad as that example) but is actually pretty decent on the inside. i like to tell my friends i live on the inside so i made sure i made it work and that i'm comfortable.

What do ur neighbours houses look like? Are they all dogs, or is yours the ugly duckling?

There's also a pride issue here, if I blow $600 k on a place and it looks like a crack shack, I just don't know if I could be a proud owner. Yes, I'd put in elbow grease on the weekend to improve it, but at $600k for the places they're showing us, size and location wise, I think that's ridiculous...

Buy now or buy never... Should be "buy now, and sell never, because you'll have loads of negative equity and won't be able to afford to"

[Z3guy]

Originally Posted by 4444

Fuck me

You could live in squallar, in a rough part of town (with no decent transit options), for $600-$750k.

Or you could rent a much newer place In a much better location for less.

Tough decision, Vancouver, really fucking tough

Yes the house is a dump, yes the house can be renovated to be nice. You are paying $660K for the land, not the house. See what kind of land you can buy in NYC, Tokyo, or even HK.

[Gridlock]

Originally Posted by Z3guy

Yes the house is a dump, yes the house can be renovated to be nice. You are paying $660K for the land, not the house. See what kind of land you can buy in NYC, Tokyo, or even HK.

"You're paying $660,000 for the land."

Sorry, wanted to spell that out.

Also noticing you compared Vancouver to NYC, Tokyo and Hong, sorry I need to swear, fucking Kong. Hong fucking Kong.

Three world class cities.

Oh fuck, nevermind. You're right dude! Great value. Because yes, instead of my mocking it, yes you can build a house for 250k and have a mcmansion on Knight street. Better make those windows double pane baby because the truck traffic might not recognize that they are downshifting in a million dollar neighborhood. Haaaave you considered an income suite or two in the basement? Amateur landlording never goes wrong! Make the rules up as you go along!

Fuck I hate this city.

[TatsuyaKataoka]

Has anyone been following the backlash against densification in Grandview-Woodlands?

I wish I could tell every single NIMBY that you can't have your cake and eat it too. Ugh.

[GLOW]

Originally Posted by 4444

What do ur neighbours houses look like? Are they all dogs, or is yours the ugly duckling?

There's also a pride issue here, if I blow $600 k on a place and it looks like a crack shack, I just don't know if I could be a proud owner. Yes, I'd put in elbow grease on the weekend to improve it, but at $600k for the places they're showing us, size and location wise, I think that's ridiculous...

Buy now or buy never... Should be "buy now, and sell never, because you'll have loads of negative equity and won't be able to afford to"

if you look at my lawn, it's the ugly duckling
good mix of old and new. quiet family oriented neighbourhood.
imo it needs some landscaping and a new coat of paint. the one next to mine similar style has that and it looks nice IMO.

[Z3guy]

Originally Posted by Gridlock

"You're paying $660,000 for the land."

Sorry, wanted to spell that out.

Also noticing you compared Vancouver to NYC, Tokyo and Hong, sorry I need to swear, fucking Kong. Hong fucking Kong.

Three world class cities.

Oh fuck, nevermind. You're right dude! Great value. Because yes, instead of my mocking it, yes you can build a house for 250k and have a mcmansion on Knight street. Better make those windows double pane baby because the truck traffic might not recognize that they are downshifting in a million dollar neighborhood. Haaaave you considered an income suite or two in the basement? Amateur landlording never goes wrong! Make the rules up as you go along!

Fuck I hate this city.

If you hate the city, you hate the city, you can buy a much bigger and nicer house in the burbs. However their are more people that like the city than not, hence the crazy real estate prices. If you don't think Vancouver is a world class city, well, I don't know what to say to that.....why do you think all the asians flock to Vancouver? because they like paying high prices? they could move to Regina or Winnipeg if they wanted too......

[RFlush]

Originally Posted by Z3guy

Yes the house is a dump, yes the house can be renovated to be nice. You are paying $660K for the land, not the house. See what kind of land you can buy in NYC, Tokyo, or even HK.

You can't buy land in hk
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[NKC ONE]

Originally Posted by RFlush

You can't buy land in hk
Posted via RS Mobile

Why not? Are you referring to leaseholds?

[4444]

Originally Posted by Z3guy

If you hate the city, you hate the city, you can buy a much bigger and nicer house in the burbs. However their are more people that like the city than not, hence the crazy real estate prices. If you don't think Vancouver is a world class city, well, I don't know what to say to that.....why do you think all the asians flock to Vancouver? because they like paying high prices? they could move to Regina or Winnipeg if they wanted too......

Oh boy...

People pay high prices because:
A) money is super fucking cheap
B) people were brought up to think buying a house is "what you do"

This has nothing to do with Asian people (and of course Vancouver is better than Regina, Saskatoon, etc. so what, that's a drop in the bucket, don't consider otherwise

This is a great city if you are super rich (really fucking hard to become in Vancouver), so if you made lots of money elsewhere and come here, and don't have to work, can buy property with cash (such a tiny proportion of transactions) and have loads of fun, they can buy their kids fancy cars, and all is good, right... Well, no, you end up with a shitty city full of douchebags

Ad please don't ever compare Vancouver, a tiny hick town with a handful of wealthy outsiders, to New York, Los Angeles, Tokyo, Seoul, London, etc. all cities with 10m plus people, and huge economies - this is what drives real estate long term, one's ability to earn - price to earnings ratios, they are important long term. Payment to earnings is likely an important one - at this time, payment to earnings is likely not too out of whack because of low rates, but as rates normalize, payments to earnings ratios will increase significantly, putting pressure on prices to decrease.

There's nothing special about Vancouver, it's the prettiest city in Canada, big deal, Canada, a country with 5 or 6 actual cities of size (of which Vancouver barely registers) - Toronto, Montreal, Ottawa, Calgary, Vancouver... Does New York not have more people than all these cities combined? Tokyo certainly does... See the difference in scope

[Gridlock]

Originally Posted by Z3guy

If you hate the city, you hate the city, you can buy a much bigger and nicer house in the burbs. However their are more people that like the city than not, hence the crazy real estate prices. If you don't think Vancouver is a world class city, well, I don't know what to say to that.....why do you think all the asians flock to Vancouver? because they like paying high prices? they could move to Regina or Winnipeg if they wanted too......

Dude, honey sweetie...you know that "you are a vancouverite" video that's floating around on facebook right now?

The thing they didn't mention is to be a "vancouverite" you need to be a pretentious douche and you need to be obsessed with the perception of the city on a world stage. Wait actually, they did touch on part of that douchy thing. Anyway. Not important.

We're not even the top city in Canada.

Not getting into a "screw TO/screw Van" thing here, but size wise, economy, power, importance, population...we're all #2.

Like it for what it is. It's not New York, it's not anything but a nice city next to the Pacific close for asians to fly home with some resources we can pillage in the back yard. Take away the: asians and/or the resources and you get? Halifax.

Channeling a little Brad Pitt ala Fight Club, you are not a beautiful and unique snowflake, you are buying the marketing and you are not your fucking address.

Stop trying to make Vancouver something its not as a justification for whatever bullshit people are trying to sell us.

The cost to borrow money is increasing, the economy isn't, people are taking on more and more debt by the day with NO income growth and in the midst of it, prices have the nerve to INCREASE(on single family homes only, NOT condos)

[TatsuyaKataoka]

Originally Posted by 4444

There's nothing special about Vancouver, it's the prettiest city in Canada, big deal, Canada, a country with 5 or 6 actual cities of size (of which Vancouver barely registers) - Toronto, Montreal, Ottawa, Calgary, Vancouver... Does New York not have more people than all these cities combined? Tokyo certainly does... See the difference in scope

I 100% agree. People will say, oh at least we don't have Rob Ford as mayor, or Quebec's langauge laws, or at least it's not hot and humid in the summer. It doesn't make up for any of the city's economic issues.

Forgive me if I sound intrusive, but why do you stay here? You could make a lot more money in the states.

[SumAznGuy]

Originally Posted by 4444

B) people were brought up to think buying a house is "what you do"

I tried explaining this to some of my co-workers. That and "buy a house because you get land"
They all think buying a house is a really "safe" investment.

Originally Posted by TatsuyaKataoka

People will say, oh at least we don't have Rob Ford as mayor, or Quebec's langauge laws, or at least it's not hot and humid in the summer. It doesn't make up for any of the city's economic issues.

I'd tell them we have Gregory Robertson, bike lanes, and public urinals called garbage cans.

[Spoon]

Hate to say it, but job well done to Gordon Campbell and his marketing campaigns. Even Vancouverites believe they're living in a world class city now.