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10-26-2022, 12:04 PM
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#23776 | | RS has made me the bitter person i am today!
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Originally Posted by Badhobz  Pretty sure if shit hits the fan all these insurance companies would go under and collapse. Considering half the Chinese people use some bs weirdo house insurance (cheap rates) I doubt they’ll even pay out when they have hundreds of millions of dollars of claims. | You have a fundamental misunderstanding of how insurance works, which is common amongst many people. A requirement to provide insurance (legally) is that insurance companies are hedged by one another. If you just give money to some idiot on the street in richmond, then yeah you probably fucked up.
But assuming you have the correct coverage, through a reputable (legal) insurance company, they can and will pay. I'm not saying they wont try some greasy stuff to get out of paying, but you need to be smart and make sure you have the right coverages, and protect your interests.
Katrina is a prime example, insurance paid out after katrina was like $40+ Billion dollars. in the aftermath of course rates rose, as companies realized the potential, this was justified considering what happened later (rita).
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10-26-2022, 12:06 PM
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#23777 | | I contribute to threads in the offtopic forum
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Originally Posted by Gerbs I think if your house goes down, there's probably government support. | In their eyes, your house might be worth nothing, but the land is where the value is. Therefore, you're still wealthy enough to not need support. O'Canada  | |
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10-26-2022, 12:24 PM
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#23778 | | I have named my kids VIC and VLS
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Originally Posted by meme405 You have a fundamental misunderstanding of how insurance works, which is common amongst many people. A requirement to provide insurance (legally) is that insurance companies are hedged by one another. If you just give money to some idiot on the street in richmond, then yeah you probably fucked up.
But assuming you have the correct coverage, through a reputable (legal) insurance company, they can and will pay. I'm not saying they wont try some greasy stuff to get out of paying, but you need to be smart and make sure you have the right coverages, and protect your interests.
Katrina is a prime example, insurance paid out after katrina was like $40+ Billion dollars. in the aftermath of course rates rose, as companies realized the potential, this was justified considering what happened later (rita). | Leaky condos would be the argument on the other side
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10-26-2022, 12:46 PM
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#23779 | | I subscribe to the Fight Club ONLY
Join Date: Aug 2007 Location: Paradise, BC
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Originally Posted by supafamous I'm surprised that it was only 50bps instead of the widely predicted 75bps and the BOC's messaging implied that they didn't feel it was enough but they wanted to minimise further panic. The December update will likely be a 50bps instead of a 25bps now and folks are anticipating 25-50bps in the spring before things cool off. | I'm surprised that it is only a 0.5% hike as well, instead of a 0.75% hike. I was really expecting a 0.75% hike too. Quote:
Originally Posted by JDMDreams I think they did the 0.5 cuz the gov themselves know we're in a recession, they just still aren't willing to admit it. Soft landing they say. Plus they themselves have a shit ton of debt that they have to service. How will they do that? They can't print more money, they will be very unpopular and will be kicked out of they cut services and raise taxes. | Freeland has recently shifted her tone from emphasizing Canada's strong economic recovery as the pandemic wanes and the low unemployment numbers to warning of some tough times ahead. She was quoted for saying:
"Mortgage payments will rise. Business will no longer be booming," Freeland said. "Our unemployment rate will no longer be at its record low."
so I'd say at least our Finance Minister isn't blind to what is happening out there. Still, the BoC has indicated before that it is easier to correct an overly aggressive rate hike than to make up for one that is too soft, and that is why I was still expecting the 0.75% hike instead of the 0.5% hike that we get. I guess we'll see what happens up ahead in December.
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10-26-2022, 12:58 PM
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#23780 | | Pull Out Towing. Women rescued for free.
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Originally Posted by Traum Dafuq?! Who are these strata council members and what are they smoking??? Have they never required any home maintenance work in their own units?
If you do that, you might as well disallow residents from booking or even just using the elevator for move ins and move outs. | Then you have a case like this one. https://globalnews.ca/news/9222710/b...oung-children/
I hope there is more to the story cause that is really F'd up if that was the case.
__________________ 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. | (11-0-0) Buy/Sell rating Christine Shitvic Pull Out Towing | |
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10-26-2022, 01:23 PM
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#23781 | | I *heart* Revscene.net very Muchie
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Originally Posted by SumAznGuy | That bylaw isn't wrong, 1 bedroom allows 2 people/2 bedroom allows 4 people. Should've flown under the radar (ask for forgiveness instead of permission). Also wonder if their realtor actually read the bylaws and notified the buyers, I assume, no, otherwise this story wouldn't exist
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10-26-2022, 02:11 PM
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#23782 | | Pull Out Towing. Women rescued for free.
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Originally Posted by 6thGear. That bylaw isn't wrong, 1 bedroom allows 2 people/2 bedroom allows 4 people. Should've flown under the radar (ask for forgiveness instead of permission). Also wonder if their realtor actually read the bylaws and notified the buyers, I assume, no, otherwise this story wouldn't exist | I wonder how far this will go.
With the current housing situation, I wonder if the government will step in and do something.
__________________ 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. | (11-0-0) Buy/Sell rating Christine Shitvic Pull Out Towing | |
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10-26-2022, 02:14 PM
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#23783 | | My homepage has been set to RS
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| https://www.redfin.ca/bc/burnaby/887...home/155191292
Thoughts on a home with a reverse floor plan? Meaning the upper level is the living/dining room and main floor where you walk into the house are the bedrooms.
I thought it was pretty interesting. Not sure if I would like that, but it might work? I'd be curious to actually see this space in person.
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10-26-2022, 02:24 PM
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#23784 | | I contribute to threads in the offtopic forum
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Originally Posted by PeanutButter Thoughts on a home with a reverse floor plan? Meaning the upper level is the living/dining room and main floor where you walk into the house are the bedrooms. | Well it's got 3 kitchens, so it's meant to be rented out.
Soundproofing better be A++. As a land lord, last thing I want my family to hear at bed time would be my tenants' night time business.  | |
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10-26-2022, 02:31 PM
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#23785 | | Willing to sell body for a few minutes on RS
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Originally Posted by Spoon Well it's got 3 kitchens, so it's meant to be rented out.
Soundproofing better be A++. As a land lord, last thing I want my family to hear at bed time would be my tenants' night time business. | The tenanted suite looks like would be the lowest of the 3 levels.
So from top to bottom you'd have:
2: Main Suite Living Room
1: Main Suite Bedrooms
L: Tenant suite
I think the living room on the top floor is a neat idea, especially with the views of that location.
Although the modern box style and concrete slab of a backyard would never work for me personally. (I need gardens, grass and trees)
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10-26-2022, 02:47 PM
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#23786 | | Rs has made me the man i am today!
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Originally Posted by JDMDreams You might as well ride it out at this point, your variable will still be cheaper than fixed. As fixing will push your payments even higher, life sucks cut back, cut on eating out, skip the dishes, Starbucks, work a second job, only fans. Hope that rates hold and might come back down in 23. | Well, I chose to lock in at 5.37% yesterday for 3 years. My logic was that I was going to be at 5.2% by end of year one way or another (I was at 4.2% yesterday) and I figured there was going to be another increase early next year so even if rates come back down in 2024/2025 I'll be around break even compared to riding it out. By fixing I don't have to think about it for 2.5 years (I can renew 120 days out). Worst case I might have overpaid by .5% - a price I'm willing to pay against even more increases.
Also, I said a while back that if my payments hit $10k/mo that I'd have to start an OnlyFans where I show people my butthole for money and fixing now avoids that fate for both sides.
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10-26-2022, 02:51 PM
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#23787 | | I *heart* Revscene.net very Muchie
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Originally Posted by SumAznGuy I wonder how far this will go.
With the current housing situation, I wonder if the government will step in and do something. | I had to list a TH in S. Surrey earlier this year. Strata found out it was tenanted and forced the owner to vacate the renter, single dad with 2 young kids, due to the complex already at rental cap. I know of 3 other units in the same complex that had to do the exact same. I felt so bad for the single dad I ended up helping find another TH for them to move into
Last edited by 6thGear.; 10-26-2022 at 03:55 PM.
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10-26-2022, 03:41 PM
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#23788 | | RS has made me the bitter person i am today!
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How the hell would the strata know how many kids you have before you bought it or if it's rented out when you sell unless it was written on the listing?  | |
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10-26-2022, 04:01 PM
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#23789 | | I *heart* Revscene.net very Muchie
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Originally Posted by JDMDreams How the hell would the strata know how many kids you have before you bought it or if it's rented out when you sell unless it was written on the listing? | I can't say for sure how strata found out regarding the family but in my instance, strata was sneaky. They redid all the roofs and overcharged every unit. Once done, they knocked on all the doors and asked who to address for the rebate cheque. They cross referenced and outed the over capped tenants.
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10-26-2022, 07:38 PM
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#23790 | | Rs has made me the man i am today!
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Originally Posted by 6thGear. I can't say for sure how strata found out regarding the family but in my instance, strata was sneaky. They redid all the roofs and overcharged every unit. Once done, they knocked on all the doors and asked who to address for the rebate cheque. They cross referenced and outed the over capped tenants. | What assholes. This kinda of stuff is racism and classism packed in one - minorities and low income folks are the most likely to need to pack more people in than others.
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10-26-2022, 09:25 PM
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#23791 | | RS has made me the bitter person i am today!
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And this is why I say don't buy buildings with rent caps or restrictions sounds like a bunch of Karens  | |
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10-26-2022, 10:37 PM
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#23792 | | I WANT MY 10 YEARS BACK FROM RS.net!
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accidentally clicked page 1
GUYS this thread is exactly 10 years old lol Quote:
Originally Posted by Meowjin This city blows anyways.
I've already made a plan to emigrate. | anyone know if he ever did?  | |
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10-27-2022, 06:56 AM
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#23793 | | Rs has made me the man i am today!
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Originally Posted by twitchyzero accidentally clicked page 1
GUYS this thread is exactly 10 years old lol | Love the headline from the article that started the thread: https://www.cbc.ca/news/canada/briti...ices-1.1142304 Quote:
Big drop predicted for Vancouver real estate prices
Outspoken financial commentator and former MP Garth Turner is making a bubble-bursting prediction about the Vancouver real estate market, saying prices there could drop by as much as 40 per cent.
But such dire forecasts have been common for years, and at least one local analyst says the often controversial Turner is mistaken.
Still, Turner, a former minister of national revenue and Ontario Conservative MP, said there are obvious reasons he’s forecasting a sharp downturn.
| Garth Turner's predictions turned out worse than a clock cause at least a clock is right twice. I bought into his fear mongering back then and missed out on opportunities to buy real estate (to live or invest in).
For what it's worth SFHs have roughly doubled in 10 years so maybe Garth will finally be right this year.
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10-27-2022, 07:18 AM
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#23794 | | I have named my kids VIC and VLS
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Buying a SFH when this thread started would have been the best investment you ever made
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10-27-2022, 08:16 AM
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#23795 | | Willing to sell a family member for a few minutes on RS
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10x 964s would have been better. My crystal ball was broken.
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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. | | |
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10-27-2022, 09:00 AM
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#23796 | | Network Admin Team
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Originally Posted by supafamous Garth Turner's predictions turned out worse than a clock cause at least a clock is right twice. I bought into his fear mongering back then and missed out on opportunities to buy real estate (to live or invest in).
. | I legit lost close friends over what Garth said back then. I knew quite a few ppl working in casino's, in real estate and immigration lawyers back then and they were all telling me of the flood of shady money entering the RE market.
Friends wanted the data on it and that Garth was completely right. Got so heated that I had to leave a 2009 Thanksgiving dinner so punches wouldn't be thrown  | |
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10-27-2022, 09:39 AM
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#23797 | | RS.net, helping ugly ppl have sex since 2001
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bored of housing bubble. we should all buy yachts and go live on those instead.  | |
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10-27-2022, 10:12 AM
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#23798 | | Pull Out Towing. Women rescued for free.
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Originally Posted by rb I legit lost close friends over what Garth said back then. I knew quite a few ppl working in casino's, in real estate and immigration lawyers back then and they were all telling me of the flood of shady money entering the RE market.
Friends wanted the data on it and that Garth was completely right. Got so heated that I had to leave a 2009 Thanksgiving dinner so punches wouldn't be thrown | I wish I could find the thread that preceeded this one where 4444 was talking about Garth.
I really want to ask him if he is still living in the same place with the same LL.
Based on the local news and what I see on the news from the US, many LL's are finding ways to kick tenants out so they can re-rent at a higher price.
__________________ 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. | (11-0-0) Buy/Sell rating Christine Shitvic Pull Out Towing | |
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10-27-2022, 10:31 AM
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#23799 | | Willing to sell body for a few minutes on RS
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I think this was that other real estate thread from earlier 2012 https://www.revscene.net/forums/6702...slowing-5.html
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10-27-2022, 10:35 AM
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#23800 | | Rs has made me the man i am today!
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Originally Posted by Great68 | LOL at the 2nd post: Quote: |
450k for a 2 bedroom is still too expensive.
| Only if it's that junker I posted the other day: https://realtylink.org/en/apartment~...w=Summary&uc=2
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