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Old 08-12-2021, 12:13 PM   #19076
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High salaries? We have, on average, very low salaries

Affordability is at an all time low

Market was propped up by cheap money and general horniness

Cheap money is leaving, horniness turns to hatred very quickly

Anyone who bought with less than 20% down in the last 3 years is going to have negative equity in the coming years
I know, low blow but really want to point out this post.
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and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

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Old 08-12-2021, 12:27 PM   #19077
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So the very first post on this thread was Oct 2012.
And there was another thread that was before it but there was a lot of people who felt the market would correct and/or drop.

I wonder where are those people now and if they take back what they said in 2012 and before.

Gonna go back and read some of the earlier posts to see what some of the comments were like.
This outlines my Aunt/Uncle. That stupid mentality of "ohhh, i think the market will drop next year, i'll just wait and see". Now they can't even afford a townhouse LOL. Now they are late 50's and early 60s, trying to get into the market as they have 2 kids in university. I'm like uhhhh people at that age either retired, start to think about retiring or slowly phasing into retirement. Who the fuck go mortgages a place at that age.
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Old 08-12-2021, 12:39 PM   #19078
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I’m not saying victoria isn’t a great place to live, but the music scene and restaurants aren’t even mentionable in comparison to Vancouver.
I’m also not saying there aren’t better places to live for other people, I’m just saying if these things are your interests, you can’t get them all somewhere else. If I was to substitute snowboarding with biking and music with boating, van would no longer seem better than victoria, but these are what matter to me, and lots of other people.
Well that’s exactly it. Priorities.

If one doesn’t have any issue living in a Condo. It’s potentially a great place to be. “IF” you can still afford to do those other things.

If living outside of a condo has higher priority then any other item, whether it be nightlife, wilderness, climate etc. There are better places to live.
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Old 08-12-2021, 01:08 PM   #19079
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This outlines my Aunt/Uncle. That stupid mentality of "ohhh, i think the market will drop next year, i'll just wait and see". Now they can't even afford a townhouse LOL. Now they are late 50's and early 60s, trying to get into the market as they have 2 kids in university. I'm like uhhhh people at that age either retired, start to think about retiring or slowly phasing into retirement. Who the fuck go mortgages a place at that age.
At one point in the early mid 2010s it was still more of an advantage to rent and invest the difference (the whole Greater Fool Garth Turner fanboys), but at some point rents went crazy high which no longer made it a worthwhile strategy.
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Old 08-12-2021, 01:38 PM   #19080
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And there was another thread that was before it but there was a lot of people who felt the market would correct and/or drop.
I remember that earlier thread, too bad it seems to be gone. I was one of those people.

I'm glad I smartened up.
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Old 08-12-2021, 02:14 PM   #19081
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At one point in the early mid 2010s it was still more of an advantage to rent and invest the difference (the whole Greater Fool Garth Turner fanboys), but at some point rents went crazy high which no longer made it a worthwhile strategy.
Back before I got married (pre-2014) it was sorta a condition of getting married that we'd buy a house which I was against b/c I said that renting made better sense but we got married so a duplex got bought 5.5 years ago and today if I rented it it'd probably cost around $4800/mo versus the $2800 mortgage I'm paying now. All for a downpayment of $225k back in the day while the value has gone up about $400k since.

Wifey was right (but I'm not gonna tell her.)
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Old 08-12-2021, 02:19 PM   #19082
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At one point in the early mid 2010s it was still more of an advantage to rent and invest the difference (the whole Greater Fool Garth Turner fanboys), but at some point rents went crazy high which no longer made it a worthwhile strategy.
I recall that. It's been so long since anyone has mentioned it.
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and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

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Old 08-12-2021, 03:12 PM   #19083
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Wifey was right (but I'm not gonna tell her.)
Don't worry... she knows... every time you see her sitting there looking pleased with herself for no real reason? Or she talks to you in the same voice she talks to a child with when they do something right for a change and it's amusing to her? She knows.
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Old 08-12-2021, 03:36 PM   #19084
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Back before I got married (pre-2014) it was sorta a condition of getting married that we'd buy a house which I was against b/c I said that renting made better sense but we got married so a duplex got bought 5.5 years ago and today if I rented it it'd probably cost around $4800/mo versus the $2800 mortgage I'm paying now. All for a downpayment of $225k back in the day while the value has gone up about $400k since.

Wifey was right (but I'm not gonna tell her.)
We've had the same discussion where I preferred to rent.

Funny how we've just bought our first house a few months ago........
But the house would probably never have happened if we didn't have a little one. It'd honestly be a GT4 instead
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Old 08-12-2021, 03:44 PM   #19085
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Back before I got married (pre-2014) it was sorta a condition of getting married that we'd buy a house which I was against b/c I said that renting made better sense but we got married so a duplex got bought 5.5 years ago and today if I rented it it'd probably cost around $4800/mo versus the $2800 mortgage I'm paying now. All for a downpayment of $225k back in the day while the value has gone up about $400k since.

Wifey was right (but I'm not gonna tell her.)
Haha when my gf (now wife) moved in, pretty much she was set on wanting to buy. Similarly, we did end up buying in 2015, and in hindsight it was the right call for the same reason. Around that time was when rents started going up it seems like and the economics of rent & invest was no longer advantageous.

So yes, my wife was right as well.
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Old 08-12-2021, 04:20 PM   #19086
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^ Better to buy BEFORE you're together, cuz when you split up one day she can only take half the appreciation instead of half the whole thing
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Old 08-12-2021, 05:27 PM   #19087
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^ haha didn't cross my mind, but we did ended up buying before we were married. Good to know!
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Old 08-12-2021, 05:37 PM   #19088
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We bought in 2017 and got married in 2019. I was the one wanting to buy, I think she just came along for the ride. Unfortunate that our condo has not appreciated as fast as townhomes, I think we are up about 10% to 12% on our unit over the past 4 years. Always struggling to make it work! But at least we have a big chunk of our mortgage paid off.
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Old 08-12-2021, 05:47 PM   #19089
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We bought in 2015. My wife was a full time student and I was a jr sous chef so we didn’t have much money, but I had just sold my place in edmonton and had some money to burn.
We actually just wandered into a presale when we went to North van to buy some shoes. Mortgage was a little less than we paid in rent but before looking we’d never even considered North van.
By the end of the week my 911 money was gone. A 964 will cost me about 40k more these days, but our place would be about 300k more, so I guess the choice was the right one. Still though, looking at upsizing now, we would be in a better spot if the market didn’t climb like it did. 700k with 150k down would be sweeter than 1.1 million with 400k down.
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Westopher is correct.
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seems like you got a dick up your ass well..get that checked
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Well.. I’d hate to be the first to say it, but Westopher is correct.
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Old 08-12-2021, 07:31 PM   #19090
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We bought before married, I remember the lady at the bank who did our mortgage questioning me on buying before being married.......like lady fuck off and mind your own business
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Old 08-13-2021, 12:52 AM   #19091
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My wife put a down payment on a presale before she even met me. I'm one lucky mofo...
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Old 08-13-2021, 10:18 AM   #19092
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...
Wifey was right (but I'm not gonna tell her.)
Donk will do it for you since he probably remembers your address for when he signs you up for spam.

A knock on the door and a simple "you were right" with no further context.
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Old 08-13-2021, 11:00 AM   #19093
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Bought in 2014, married in 2016, but we had already lived together at times (while the MIL was away lol) and had been dating for 6-7 years before.
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Old 08-13-2021, 12:39 PM   #19094
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Looking to list my 3bed th in Coquitlam soon. All agents I've spoken to want to way under list to make it easier on them. Technically, most listing contracts state that if I get my list (underlisted) price, they are owed their commission. Anyone have recommendations on an agent?... also one that may also be willing to be kick some commission back?
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Old 08-13-2021, 12:49 PM   #19095
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^ I don't get it, don't they get their commission regardless the sale price?
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Old 08-13-2021, 12:51 PM   #19096
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Sorry, typing off of my phone. If you wanted lets say 650k. They underslist to get attention at 600k. If you get offers at 600 or lets say 605, and you don't want to sell, some contracts stipulate that they are owed commission or expenses even if you don't accept because you signed off for the list price at 600. The agent technically met their end of the deal
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Old 08-13-2021, 12:52 PM   #19097
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What a dishonest way of doing business.
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Old 08-13-2021, 12:53 PM   #19098
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Looking to list my 3bed th in Coquitlam soon. All agents I've spoken to want to way under list to make it easier on them. Technically, most listing contracts state that if I get my list (underlisted) price, they are owed their commission. Anyone have recommendations on an agent?... also one that may also be willing to be kick some commission back?
The market is decently hot.
I would not recommend looking for an agent that is willing to kick back some commission.
You are better off finding a good agent who is willing to work with you and try to sell your unit for as much as the market is willing to pay.
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and icing on the cake, lady driving a newer chrysler 200 infront of me... jumped out of her car, dropped her pants, did an immediate squat and did probably the longest public relief ever...... steam and all.

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Old 08-13-2021, 12:53 PM   #19099
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no way, realtors being dishonest?
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Old 08-13-2021, 12:57 PM   #19100
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Looking to list my 3bed th in Coquitlam soon. All agents I've spoken to want to way under list to make it easier on them. Technically, most listing contracts state that if I get my list (underlisted) price, they are owed their commission. Anyone have recommendations on an agent?... also one that may also be willing to be kick some commission back?
I use Aislynn at Crosstown Marketing Group

She helped me sell my condo, buy my latest home and will sell my current home shortly. She doesn't do kickbacks but what we get is honest advice and a tough spine for negotiating with other parties. - my wife and I both trust her to do right by use, we never for a minute think she's trying to max out her cut.

Realtors are really personal though - you and I may want the "same" things but the way it plays out can be totally different. I've known Aislynn for a long time through friends of mine so we work well together and my wife generally is suspicious of everyone but she isn't of Aislynn.
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