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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011
Location: North vancouver
Posts: 12,756
Thanked 32,637 Times in 7,615 Posts
Failed 214 Times in 162 Posts
Quote:
Originally Posted by Hondaracer
If the amount of “extra” yard work a corner lot provides is a turn off between a non-corner lot, I got some news for ya, a detached home is probably over your head lol
I need the biggest yard you have.
No that’s too big.
He got ahead because he works his ass off. He worked 6 days a week from sun up to sun down as a roofer. While idiots spend all day complaining about JT and attending protests every weekend.
Pretty fuckin hot take there.
Have a look at where he’d be if he worked his ass off starting in 2019 as a roofer and I assure you he wouldn’t even be able to look at a one bedroom condo until 2030.
This. People need to stop posting stupid stories about their folks "hustling hard" in the 70's/80's and being able to buy a place, that has literally no resonance on today's climate.
We just came back from Phoenix yesterday and I was speaking with a late 60-something retiree from Vancouver, the topic of housing came up -- he was a professor at UBC, friend of a friends.
The man had such an honest take on the idea that his generation should acknowledge and recognize how lucky and privileged they were to be in the right place at the right time circumstance wise. He described how much he hated hearing his boomer friends on the golf course talking about younger folks needing to pull up their bootstraps and simply "work harder" to achieve what they did. It's such an indignant and disingenuous take on a real problem.
Needless to say it was refreshing to see someone so well-established carry such an honest opinion on the subject, one that I don't hear that often from his generation.
This. People need to stop posting stupid stories about their folks "hustling hard" in the 70's/80's and being able to buy a place, that has literally no resonance on today's climate.
We just came back from Phoenix yesterday and I was speaking with a late 60-something retiree from Vancouver, the topic of housing came up -- he was a professor at UBC, friend of a friends.
The man had such an honest take on the idea that his generation should acknowledge and recognize how lucky and privileged they were to be in the right place at the right time circumstance wise. He described how much he hated hearing his boomer friends on the golf course talking about younger folks needing to pull up their bootstraps and simply "work harder" to achieve what they did. It's such an indignant and disingenuous take on a real problem.
Needless to say it was refreshing to see someone so well-established carry such an honest opinion on the subject, one that I don't hear that often from his generation.
My mom has no disillusion that we aren't working hard enough, she knows they had it easy and regrets not taking more risks with their money. Dad was too conservative about things.
She's pushed hard for us to buy a house and said we should have bought a house when we bought the townhouse. We were just simply not in the right financial place to buy a house, nevermind that at that stage of life I had no desires to own a SFH. I wasn't even sure I wanted kids at that point.
Willing to sell a family member for a few minutes on RS
Join Date: Apr 2011
Location: North vancouver
Posts: 12,756
Thanked 32,637 Times in 7,615 Posts
Failed 214 Times in 162 Posts
Mike I think it’s the perfect example of how someone like a professor, who’s around a demographic it affects so often would carry that opinion. It’s just like people in small towns with only white folks end up racist. People really lack empathy for those they aren’t around and fall into that tribalism mentality whether it’s socioeconomic, race or otherwise. Certainly not everyone, as some people just “get it” but the majority of people have shown that they don’t.
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98 technoviolet M3/2/5
Quote:
Originally Posted by boostfever
Westopher is correct.
Quote:
Originally Posted by fsy82
seems like you got a dick up your ass well..get that checked
Quote:
Originally Posted by punkwax
Well.. I’d hate to be the first to say it, but Westopher is correct.
This. People need to stop posting stupid stories about their folks "hustling hard" in the 70's/80's and being able to buy a place, that has literally no resonance on today's climate.
We just came back from Phoenix yesterday and I was speaking with a late 60-something retiree from Vancouver, the topic of housing came up -- he was a professor at UBC, friend of a friends.
The man had such an honest take on the idea that his generation should acknowledge and recognize how lucky and privileged they were to be in the right place at the right time circumstance wise. He described how much he hated hearing his boomer friends on the golf course talking about younger folks needing to pull up their bootstraps and simply "work harder" to achieve what they did. It's such an indignant and disingenuous take on a real problem.
Needless to say it was refreshing to see someone so well-established carry such an honest opinion on the subject, one that I don't hear that often from his generation.
Modern problems require modern solutions. Unfortunately "hard work" isn't a solution when all the hard workers are exploited by the rich, investors, REITs, etc. capitalism is just starting to look like new age feudalism now.
They have a proper foyer, the powder room on the main floor is tucked away so guests have privacy when they use the toilet, there's a mudroom for the back entrance, laundry on the bedroom level, and my all time favourite... the toilet in the master washroom is separate. It would be nicer if they had one more full bathroom though.
The design/theme is to be desired for me, but I love the layout of this place.
They have a proper foyer, the powder room on the main floor is tucked away so guests have privacy when they use the toilet, there's a mudroom for the back entrance, laundry on the bedroom level, and my all time favourite... the toilet in the master washroom is separate. It would be nicer if they had one more full bathroom though.
The design/theme is to be desired for me, but I love the layout of this place.
Not bad! Interesting that there are 4 levels in total... Only drawback is that you can't rent any part of it out, but in that neighbourhood (MacKenzie Heights), it shouldn't be a deal-breaker.
__________________ Do Not Put Aftershave on Your Balls. -604CEFIRO Looks like I'm gonna have some hot sex again tonight...OOPS i got the 6 pack. that wont last me the night, I better go back and get the 24 pack! -Turbo E kinda off topic but obama is a dilf - miss_crayon Honest to fucking Christ the easiest way to get a married woman in the mood is clean the house and do the laundry.....I've been with the same girl almost 17 years, ask me how I know. - quasi
It looks like things are slowing down... seeing longer days on market for many properties.
Return to the office, interest rates and inflation, millennials tapped out...?
I'd say all of the above and more places on the market so more selection for buyers to choose from.
Going to be interesting to see how things go in the next few months.
__________________ Originally posted by Iceman_19 you should have tried to touch his penis. that really throws them off. Originally posted by The7even SumAznGuy > Billboa Originally posted by 1990TSI SumAznGuy> Internet > tinytrix
Quote:
Originally Posted by tofu1413
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.
Sorry or you're welcome for the market slow down guys, I was about to list my place
Various agents were confident that I'd be able to fetch about 850k for my place 2 months ago in a matter of days. There's two similar sized townhouses in my complex that have been sitting on the market for 15 days at 699k
Sorry or you're welcome for the market slow down guys, I was about to list my place
Various agents were confident that I'd be able to fetch about 850k for my place 2 months ago in a matter of days. There's two similar sized townhouses in my complex that have been sitting on the market for 15 days at 699k
Maybe I'm getting older and start to lack patience with people or idiots in general. Was reading an article of this young couple couldn't afford to buy in the city, so they bought a vacation home and rented it out. Money from there (investment) will eventually be used to fund their main home purchase one-day. See comments of people saying they aren't helping the problem we are facing and that they are the problem. Like WTF do you want people to do? Like save enough before they buy?.....
Ain't no different if your boss gave you a pay raise, then turns around and jacks up prices of their products/services to consumers to cover your raise. Are you gonna be like "noooo, i don't want the pay raise as I don't wanna add to the society issues of higher cost of living".
Seems like these assclowns that bitch on news article posted on FB are the ones that are haters, and can't afford shit as all do they do is spending their time doing shit that adds no value.
I feel like i'm the same way. My patience is almost at zero these days and I feel like i'm getting grumpier... I don't think that's a good thing though.
It looks like things are slowing down... seeing longer days on market for many properties.
Return to the office, interest rates and inflation, millennials tapped out...?
Seems like investors/flippers might be exiting the market, that's when you'll start to see prices trend down.
And it seems like not only will buyers have to deal with higher rates in the coming months but lending in general might be tighten...
Quote:
Canada’s bank regulator is getting its ducks in a row after a routine audit to assess financial system risk. The Office of the Superintendent of Financial Institutions (OSFI) published its first Annual Risk Outlook last week. The report covers systemic risks to the system, including a home price crash. Amongst the issues uncovered was mortgage income verification and over-leveraged borrowers. OSFI plans to address the risks in the next few weeks, likely meaning tighter lending.
Canada’s Bank Regulator Questions Mortgages, False Incomes Is “Common”
Mortgage loan underwriting risks are common, according to the agency. For those unaware, underwriting is the process to ensure a quality loan. This includes income verification, checking assets and debt, and property details. Bad underwriting is a disaster waiting to happen during risk periods.
“Recent supervisory reviews identified several common issues around underwriting, specifically income verification in areas that have been raised as being problematic in the past including business for self, rentals, exceptions to income sustainability as well as collateral management.” read the report.
In other words, incomes may have been inflated to obtain more leverage. It was a dry way of wording it, but this is a big problem whether it persists or if there’s a crackdown. If it was really common, this would see investors (the largest segment of borrowers) dry up fast.
Extending Prudential Regulation To Other Products
Non-traditional mortgage products are becoming very common and may require further regulation. Reverse mortgages, shared equity, and combined loan plans (CLPs) are becoming popular. The regulator cites the popularity of these formerly niche products as an area that needs stronger rules. B-20 Guidelines, which ensure quality underwriting, may be extended to other areas soon.
CLPs may be a bigger issue than the public knows, considering the frequency mentioned. These combine a mortgage and a home equity line of credit (HELOC) into one product. By doing this, borrowers see their HELOC credit limit rise with each payment. OSFI has previously cited CLPs as a valuation risk, believing it hides distress.
Mortgage Stress Test Rate May Rise This Winter
The mortgage stress test is another issue OSFI cites as a concern these days. Uninsured mortgages are “stress tested” with a minimum qualifying rate (MQR). The MQR is currently 5.25% or the contract rate plus 2 points, whichever is higher. That is, a borrower needs to qualify for a mortgage at the higher of the two regardless of what they’ll pay.
As the overnight rate is forecast to climb nearly 2 points in a year, the MQR may need a revision. The next planned MQR announcement date is on December 15, 2022 — about seven months from now.
Remember, risk takes care of itself while prices are rising. A homeowner is unlikely to default in a market where they can sell a home within days of an emergency. Additional equity also makes it easier to cover distress, like with CLP mortgages. Only when the bid dries up do real valuations become apparent, in a non-stimulus market. That can be considerably lower than right now.
Seems like these assclowns that bitch on news article posted on FB are the ones that are haters, and can't afford shit as all do they do is spending their time doing shit that adds no value.
Delete your Facebook account, or run messenger only
Your own IQ will increase by 9000 overnight, simply by not reading cringy fb articles started by vegan flat earther antivax mouth breathers, supported by a herd of their inbreeds
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Quote:
Originally Posted by Mr.Money i hate people who sound like they smoke meth then pretend like they matter.
Originally Posted by ilovebacon
Does anyone have a pair of 25 pounds one-inch hole for sale at a reasonable price?
Originally Posted by mikemhg
Clothes come off and my car is permeated with the smell of fillet-o-fish and canned tuna.
Delete your Facebook account, or run messenger only
Your own IQ will increase by 9000 overnight, simply by not reading cringy fb articles started by vegan flat earther antivax mouth breathers, supported by a herd of their inbreeds
In my friends groups through WeChat and stuff there are a LOT of so-called “distress sales” being posted now for condos but if you do the math they’re not distress sales at all, they’re still selling for flipper profits but trying to garner more attention by calling it a distress to get people looking. Not the best sign in the world for people looking to continue profiting.
^ hopefully a good sign for people looking to just "live" instead.
Quote:
Originally Posted by rb
Sorry or you're welcome for the market slow down guys, I was about to list my place
Various agents were confident that I'd be able to fetch about 850k for my place 2 months ago in a matter of days. There's two similar sized townhouses in my complex that have been sitting on the market for 15 days at 699k
699k clearly trying to entice a bidding war which aren't happening anymore. I have bid on 4 places in the last 6 months and originally had to compete with 8-10 offers, now we're only battling 1-2 people max.
Life crumbled into the shitter lol. Bought it in the peak in 2016, as I thought I'd have a family to fill it with by now but that didn't work out. So my forever alone ass doesn't need a 3-bed townhouse because coming home to an empty house sucks + I think my time in this city (Coquitlam) and the lower mainland is done. Grateful that I managed to have it paid off but money really means fuck all without a greater purpose and just buying shit isn't a purpose. Life is short boys & girls, enjoy your time with your loved ones...
Life crumbled into the shitter lol. Bought it in the peak in 2016, as I thought I'd have a family to fill it with by now but that didn't work out. So my forever alone ass doesn't need a 3-bed townhouse because coming home to an empty house sucks + I think my time in this city (Coquitlam) and the lower mainland is done. Grateful that I managed to have it paid off but money really means fuck all without a greater purpose and just buying shit isn't a purpose. Life is short boys & girls, enjoy your time with your loved ones...
/lifestory /liferant
Damn. I'm sorry life hasn't worked out the way you wanted it. Having any real estate in BC paid off is quite the accomplishment, you should totally be proud of that.
Not sure if first world problem, $850 for 3 bed town house sounds real cheap.
But yea I feel like prices peaked a bit late Feb right before Putin started the war and rates went up. I think ppl are holding off right now as Coronas isn't real, you can flee communist Canada now and there's that cooling thing coming up. I think ppl are just waiting it out to see what happens. I doubt existing home owners are hurting to sell. If prices ain't favourable there's no point to sell and what are you gonna rebuy.
I was talking to a realtor today and he said things are sitting on the market for longer but it's cuz there's more listings. He said realtors are already coming up with ways to skip the cool down policy
rb dude… glass half full I hope it’s not health issues but if it’s just a damn relationship broke down (kind of sounds like it) it will pass with time even you didn’t think it will… it’s not an empty home it’s a sweet pad with a garage you can do whatever you want, have a games room, etc… half the guys on this forum probably wish they had that situation including the ones with kids etc.
Don’t get too hung up on what could have been, it’s just an opportunity to do even better once you dust yourself off a bit.
Fully support new beginnings though if that revitalizes you!! Hope everything works out for the best.
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