This thread is the
worse thread on revscene. Go back 3, 5, 10 pages. Its all the same posters, posting the same doom and gloom that is expected in real estate. The exact opposites of real-estate agents, the doom/gloom agents. Now these "experts" are saying wait 2-3 years for a market correction. Wasn't the bubble supposed to burst back in 2007. That's when I first heard about a Vancouver real-estate "bubble bursting"
Yet, I look out my window, I see nothing but construction. I see cranes and little electricians and forming crews all day long. There are currently 4 highrises outside my Coquitlam window in different stages of construction right now. The ones that were built before are all pretty much occupied. You can tell at night by all the lights on. In my moms neighbourhood, a crack shack is sold and torn down in a week. About half a year later, a new house is built and a new family is moving in. Sometimes they are Asian, sometimes they are Caucasian, they can even be South Asian. This has been happening for the past decade in Burnaby. These people must be born suckers according to some in this thread.
We also own two rental units downtown. Everytime someone moves out, we raise the rent, everytime, someone is willing to pay more. We rent a bachelor apt for $1600/month. My 1 bedroom in False creek goes for $1950/month. I'm thinking about adding another downtown rental unit to my portfolio. I must be doing something wrong.
Should I be worried about the doom and gloom everyone is posting. Most posters in this thread would say YES!!. However, right now, i'm doing pretty good with real estate investments in Vancouver. Granted they may not be as lucrative as US investments, but I don't need to hire a property manager.
