Vancouver's Real Estate Market

[Teriyaki]

Vancouver DT, the next Vancouver Chinatown? You'd be called loony suggesting something like that is possible just a year ago. But now, looking at how bad its gotten in such an incredibly short amount of time...

[Gerbs]

DT Condos on newer builds look like it's the same price as late 2017 and 2018? Which units are prices down?

[68style]

I like how the government buys up places now for social housing after nearly 20 years of surging prices.

Not sure what happened to that fellow who was involved in the DTES that posted here before, curious what his take is, I really don’t believe free housing is the way to go tbh, I spent some time in an office on West 2nd for a few months and literally watched the tower across the street that’s part of Olympic village melt before my eyes as a social housing project. Literally destroyed. Those people need programs and actual assistance not a free ride. Anyway topic for another thread I suppose... my bad lol

[Hondaracer]

Honestly it’s like the COOP program on crack (quite literally)

In my experience people who are given a hand out have almost no pride of ownership, and these are somewhat “regular” people in the govt. run housing coops treat their places like shit. Even the people who have normal lives, normal families, etc almost always live like they do not give a single fuck about the unit or building

It’s quite a contrast to say, a hard working dual income family just struggling to get by who rent or own a unit and how those people keep and treat their unit/building

I was at a gathering last summer where a friend of a cousin lives in a Vancouver coop, he was going on about how they were gonna get Bath fitter to come and redo their bathroom, the cousin basically said why don’t you just clean the bathroom? They kinda laughed and shrugged it off as it’s easier to have bath fitter come and install a new tub/shower than it is to clean it..

Those Sahota’s who owned all the slum lord buildings on the DTES are obviously terrible human beings, but gotta give them credit in twisting the city’s arm to their will and getting what they want and burying the info.

[Gerbs]

Aren't rent prices at social housing still pretty expensive?

[Hondaracer]

I think you can get a 3br in a coop for under $2000, don’t quote me on that though.

I think it varries depending on location and building but my anecdotal experience is almost in all buildings that are 10-15+ years old in Vancouver and Burnaby and of the 12-15 I’ve been into they are all pretty much the same

[twitchyzero]

i work around mt pleasant and had to clean up needle caps etc, granted it was never a super clean and proper area to begin with but it feels the shit show has really begin to spread

i rarely go d/t but if mobility pricing does kick in it's gonna look more detroit

[JDMDreams]

I know ppl who live dt and they say it's basically a big east hastings now. Hobos sleeping at the building entrance, piss poop and garbage everywhere

[BIC_BAWS]

Originally Posted by Gerbs

Aren't rent prices at social housing still pretty expensive?

Prior to purchasing my house, my family and I lived in our townhouse that was a Metro Vancouver subsidized housing complex. Rent for a 2 bedroom, 1 full + 1 half bath, with basement townhouse with attached single garage was $1350/mo for rent.

$1350/mo is the non-subsidized amount as we were above the cap but still too poor to purchase. We lived there for 16 years. Complex was built in the late 90s to early 2000s.

Originally Posted by Hondaracer

In my experience people who are given a hand out have almost no pride of ownership, and these are somewhat “regular” people in the govt. run housing coops treat their places like shit. Even the people who have normal lives, normal families, etc almost always live like they do not give a single fuck about the unit or building

This was not my experience at all. Everyone in the complex took pride in their gardening and shared common places were always clean.

The only exception that really pissed me off was that in the last 5 years that I lived there, there was a surge of middle-eastern families that moved in. They all seemed to know each other and they all had issues with parenting or so it seems.

Their kids all left their toys/bikes/etc in the middle of the driveway or would continue to dangerously ride their bikes, swerving in front of cars as they drove by. In several instances, the kids would ride their bikes at the cars, almost like playing chicken. Or they would throw their balls at cars, with no care for other people's belongings.

I had a few choice words for their parents.

There was only one family of that demographic that I was okay with. But that was mostly cause the father was a car guy, imported JDM cars for personal use, and I got along with his kids - they were always checking out what I was doing with my car or wanted to come for a ride around the neighborhood.

Originally Posted by Hondaracer

I was at a gathering last summer where a friend of a cousin lives in a Vancouver coop, he was going on about how they were gonna get Bath fitter to come and redo their bathroom, the cousin basically said why don’t you just clean the bathroom? They kinda laughed and shrugged it off as it’s easier to have bath fitter come and install a new tub/shower than it is to clean it..

To be fair tho, that's what management does anyway. When a family moves out of a unit, they replace everything, instead of cleaning.




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[bcrdukes]

I grew up in a government subsidized social housing project in Chinatown.

I may be biased, but having lived in said project for 13 years since coming to Canada, FOB and all, I didn't feel or believe anyone within the housing project treated their units like crap. I felt that it was the opposite because we would often hang out at each others homes, and came and went as we pleased, and there were never obvious signs the units were treated poorly by anyone. Sure, you had a few misfits, but they were far and few, and often picked up and left pretty quickly.

The property managers were always replacing things when things needed to be replaced, and we even got new and upgraded playgrounds throughout my time there. The projects now have changed a lot, and to keep up with the times like new partitions/security gates to prevent crackheads from breaking in etc.

Any how, different places, different people, come different circumstances. We certainly did not get a hand out, and in fact, towards the tail end of our time at the projects, my parents were paying rent on par with, or above market, and that was when my parents saved up enough to buy a house in East Vancouver. But to paint a picture where everyone living in subsidized housing treat their homes like crap is a bit of a far stretch. Everything is circumstantial. Too bad I didn't get to live in Olympic Village.

[GIZZ]

Olympic Village is great, east of Columbia at least. They just need to get things under control before it end up looking like Chinatown's Hastings. It's unbelievable that they build a high rise on 2nd ave, and fill it half with homeless. Park your car in front of Marguerite Ford Apartments for 10 minutes to see what they did. They are averaging 45 police calls to that building per month, just great.

I should be more mad because I have a rental unit in the Village, my value are down 15% in the last 2 years. Rental prices are also down. My longterm tenant just gave notice, not looking forward to the next few months.

[AstulzerRZD]

Originally Posted by Gerbs

What's downtown like these days? Coworkers mentioned that Covid led to homeless spreading.

I'm downtown a few times a week!

Definitely notice the homeless and the smell on Granville more but still don't get the feeling that my safety is at risk; I'm mostly annoyed at how they've removed paid parking on Granville now.

Sounds like I'm in the minority here - downtown has a lot to offer that I can't find elsewhere. I'm out with my parents in Richmond since I'm visiting, but I'd rent/buy downtown if I were to stay longer term.

A world class cycling loop in Stanley Park (+ cyclist friends who live in the west end), a 5-10 minute walk to the dance studio or Robson square for bboying, awesome food along Robson/Denman, proximity to the mountains, easy to meetup with a date on a whim, and very walkable/cyclable (I hate driving for errands/commute).

==

As to Harvey Specter's fear, I've lived in DT Seattle and DT SF and have a slightly different take. I think it's access to people/services that make a city what it is; my hypothesis is that people will move back once gatherings are happening again.

W.R.T Seattle, Downtown has been pretty dead for years, but I feel like that's because most services/gatherings happen in neighboring Cap Hill/Fremont.
Naturally, I'm up in Cap Hill these days.

W.R.T. SF, our company office was right on the edge of the 'infamous' Tenderloin - Market x 9th. SOMA/Tenderloin are pretty rough, but Mission Bay/Mission/Chinatown are fine.
A 15 minutue walk through the Tenderloin to see what a friends are up to at their startups & meet their coworkers has helped me make some friends I otherwise wouldn't have.

[twitchyzero]

cant work on cars and lack of free parking for quick in-outs are good enough reasons to stay out

cycling for fun is good for 4-5 months out of the year, i only ride in light rain for commutes

[bcedhk]

Question regarding storage of small items within an underground parking stall.

Our condo's property management and strata president has been quite proactive over the years on giving out warnings to residents leaving behind anything in their stalls. I've had warnings for leaving out my bike pump or car towels.

I noticed that most older condo's do not have this rule and I see people storing a lot of things within their parking stalls. So is this something that can be changed at the AGM?

[Hondaracer]

I would imagine it’s in the strata by-laws and there would have to be a motion to change it

Personally I’d vote it down in a second because it would just become an eye-sore as with anything you give people an inch they take a mile and the next thing you know you’ve got car parts and spare engines lying around lol

[unit]

when i was living at the centro at joyce, there was a guy in our building who would have like 3-4 motorcycles in each of his 4 stalls that he had/rented. 10+ motorcycles covered in tarp, many with extension cords running across to outlets presumably to keep the batteries charged. total eyesore... he'd try to keep his tarp on his side of the line where is spot is but sometimes his crap would be over the line or way too close to his neighbours' spots. the strata didn't give a damn. other people would have building materials and junk in their spots and in random corners of the parkade as well.

in the storage room my locker was in the corner and people would put tons of junk on the floor, some of them being food related like used tin foil baking trays and other nasty crap. they'd put it in a pile in the corner where my locker was, and i'd just come over and kick that shit all over the place lol. not gonna neatly arrange your pile of junk somewhere else when it's blocking my locker. i complained to the strata several times and eventually they put notices around but they didn't enforce their threats till i told them that i was going to throw out all of the junk myself with no regard to who it belonged to or what it was. it was honestly mostly junk, but some of it was also people's belongings, but pretty much worthless crap. if it was worth something to someone then they should keep that shit in their apartment or in their locker, not in the damn hallway. the worst thing about condo living is inconsiderate neighbours.

[Eff-1]

Originally Posted by bcedhk

Question regarding storage of small items within an underground parking stall.

Our condo's property management and strata president has been quite proactive over the years on giving out warnings to residents leaving behind anything in their stalls. I've had warnings for leaving out my bike pump or car towels.

I noticed that most older condo's do not have this rule and I see people storing a lot of things within their parking stalls. So is this something that can be changed at the AGM?

Storing items in the parkade is often an issue with the fire code. It's a hazard to keep items in areas not designated as for storage, parking stalls being one of them. Some stratas are more aware/strict about it than others, but the fire code is the same for all buildings.

Typically the council will use Bylaw 3 when it comes to enforcing no storage in the parkade (must not use property in a way other than it was designated for).

Bylaws and rules can always be changed at at AGM by way of a majority vote, but the fire code can't.

[Ludepower]

I rarely visit anyone in the suburbs cause when your living DT they're always coming here.

When covid is over your bosses will be cracking the whip to get you back into the offices.

Traffic looks like its coming back. Its just gonna get worse from here on out.

Location Location Location. Vancouver DT condo is your safety deposit box. Prices rises first here and would be the last to fall.

[Harvey Specter]

Originally Posted by Ludepower

I rarely visit anyone in the suburbs cause when your living DT they're always coming here.

When covid is over your bosses will be cracking the whip to get you back into the offices.

Traffic looks like its coming back. Its just gonna get worse from here on out.

Location Location Location. Vancouver DT condo is your safety deposit box. Prices rises first here and would be the last to fall.

There's a lot of inventory out there so it'll be a while until prices start going up and that's assuming COVID is controlled, offices fully re-open and tourism gets back to normal levels. A lot of what ifs but with that been said, if you're buying long term you should be fine.

[CivicBlues]

Are you people referring to Downtown only as in West of Burrard? Because the West End/Coal Harbour is perfectly fine. I'm out and about almost every day walking around and while there's a few more homeless people than usual it's not nearly as "night of the living dead" as some of you say it is.

East of Granville though, another story perhaps. I too hear the news stories but my friends living in Yaletown say it hasn't personally affected them. One of them has even doubled down and bought another place down there.

[donk.]

I think i just read a page of crap

Nothing has changed in vancouver in the last year, you guys need to get off the drugs

[Sw0op]

bc assessment is updated

[lowside67]

Detached in Coquitlam, +10% from last year but still down about 12% from its 2018 peak.

-Mark

[JDMDreams]

Surrey is down, other areas are up but not to the peak

[Alpine]

Assessed is lagging, especially for detached. Coquitlam detached is essentially back to peak prices.