We have social media to blame for that…

If she lives at home and makes $40 - 50K a year. Her disposable income is like $32 to 40K after-tax.

With 0 expenses, I'd say it's equivalent to making $120,000 a year gross with bills. A few acquaintances I met are in this situation, it's a pretty good life. You get to live in Vancouver, all bills paid for, have money to lease or buy a nice BMW/Audi/MB, eat out every meal. Still able to save $5 to 10k a year. Got a garage at home, parents to make food, house is always clean.

Only downside is you live at home which I argue isn't a downside if you're a girl. Good luck dating if you're a guy lol.

I have two friends that are over $100k at 25 from flat-rate mechanics. They said they cleared $150k in 2021 with a bit of OT.

Cccccccombo breaker, Yea I heard some one tried to bid $300000, over asking on a East Van detached and it sold for like $465k over asking, no subjects. :pokerface: not even a nice house, like 60+ year old :fulloffuck: can't be da Chinese buying it cuz it won't rent out :lawl:

Asking is meaningless in this market.

https://www.redfin.ca/bc/vancouver/6...home/157208775
Feb 8, 2022
Sold (MLS) (Sold)
REBGV #R2647224

$2,701,000
Price
Jan 31, 2022
Listed (Active)
REBGV #R2647224

$1,980,000
Price

https://www.redfin.ca/bc/vancouver/2...home/156936723
Feb 1, 2022
Sold (MLS) (Sold)
REBGV #R2645496

$2,488,000
Price
Jan 24, 2022
Listed (Active)
REBGV #R2645496

$1,995,000
Price

This one was insane. $2.4 for a modern Vancouver special in South Van. We had a very similar house a few block away next to a park. Highest comparable in the summer was just over $2M.
https://www.redfin.ca/bc/vancouver/6...home/155941672
Jan 26, 2022
Sold (MLS) (Sold)
REBGV #R2643823

$2,411,000
Price
Jan 18, 2022
Listed (Active)
REBGV #R2643823

$1,899,000

Damn, this Van Special is like a really shitty version of my parents place. I had just been saying last week to them their place is probably worth just over $2m. This is nuts. Last summer they had considered selling their house to me for $1.8m.

My BIL has upped his budget closer to $2m and even that only gets you an ok home in Richmond in most cases.

429 McGill drive in Pomo. Has some unique touches and it has been renovated, but we are talking about a 50 year old 2600sqft house in Pomo selling for 2.35m

A friend of my wife’s just sold her home at 2511 Wall Street in EV

Listed at the price she paid in 2018 at 1.8x, sold in 8 days for 2.35

2000 sq ft built in the 60’s

No way I would let my kid live rent free at home if they are making $40-50K/yr. I would at least charge $500-700/mth (way less than market) but help with household expenses and their contribution towards my retirement car. It's called teaching responsibility.

Wait until the day they say "Fuck you mom/dad!" and they threaten to leave home and you are nothing bad a bad parent. Who is paying the rent now? :troll:

^ that would actually be my preference .. don't need their $$ in the first place. Get their entitled arse and shitty loud music out of here and I get an office.

So Cencus results are in, and Canada is the fastest growing country out of the G7 countries…. Unless these cities start allow training and a shit ton of plan approvals these prices aren’t going anywhere.

Yup!

Housing demand: Record 55,000 immigrants expected for Metro Vancouver in 2022
https://dailyhive.com/vancouver/metr...n-housing-2022

BC was also the only province that more people moved to than moved away from

99% of out of province people I know that moved here have no desire to leave BC. Especially the ones from Ontario lol

Everyone I chat with somewhere seems to tell me they "just moved here." People from Fort Mac, Toronto, even a whole extended family from Albania of all places.

https://www.redfin.ca/bc/vancouver/2...home/155490762

2000sf 110y.o. character home on Main/22nd goes for 2.9m, listed for 2.1m. Holy shit man. That's more than a full 3400sf new build was a year ago (2.5m)

We lost on a bid for 418 E 21st Ave. Off by about $100k but zero regrets.

These old houses will cost another $400k in never ending renos!

Exactly the same lol. People come here and simply do not want to leave unless they have to.

Holy crap! But young Caucasian families love that style of house, and that neighborhood is VERY popular. There must have been a bidding war to end up 800k over asking.

My MIL lives in that neighborhood; she’s sitting on a gold mine.

Finally! It's not foreign investors ruining it for everyone!

For the record 2.9m is about 38kg of gold which is slightly more than 3 gold bars so yeah it's pretty much a gold mine.

Making an offer for a Vancouver SFH:

https://dazedimg-dazedgroup.netdna-s.../3/1073640.jpg

Friends of ours lived in that neighbourhood for a few years and had a similar styled house.

They sold and bought in Arbutus Ridge, but yes, it's a very popular neighbourhood amongst a certain demographic.

people go bananas to have a yard in mt pleasant

interestingly getting different feedback from starting family from other parts of canada..at least skipping the lower mainland and into the interior/onto the island

On topic of interest rates:
A few pages back people renewing around 1.2 for variable.
Being offered with 1.4 over the phone with TD for variable thru a mortgage broker.

Used RBC in the past, their mortgage brokers are your friend until you sign the papers and then they ghost, so looking to jump ship.
Now that I've said this, rbc will call me, I bet they will offer me a low variable rate and il have a hard time saying no to