Vancouver realestate

[faller]

The average home in Van. just hit the million mark :shock

[monkey]

Yeah, its ridiculous....
living is not gettin any more affordable down here..

[Talo]

Time to sell .

[faller]

No kidding Talo. Think about it most of those people have lived in those homes for the last 20 or so years, just average working Joe's like most of us. Mortages payed off, and now new millionares! Gotta love it!!

Just noticed i should have put this in the money and investment section, sorry bout that.

Speaking of working Joes, i'm outta here.

[GYMBRAT]

that is fked!

[fathead]

detached homes on vancouver west side increased 47-50% over the last 11 months.... schweet

time to sell yes. markets gonna correct i thinky

[Big D]

that makes absolutely no sense to me, I just started a new career its pays well. but like i'll be able to afford a house thats 500K + ... **** were I live right now you can't get a decent house under 300K,

people are trying to sell these ****ing shit hole houses for 250k. and in reality it might have cost 50K to build it.

anyways looks like i'm going to be living in an apartment for the rest of my life.

[JonnyO]

Its bullshit out here. People say sell? Why so you can get a place thats more expensive? Makes no sense.

[ironwill]

Sell out and move to Windsor.....Lowest prices per capita in Canada, be a rich man over there....Good gyms in Windsor as well!!!;)

[ubcpower]

LOL my apartment in Kits is on the market at $399,000 and its a small shitty dark cavern.

[natenator]

that makes absolutely no sense to me, I just started a new career its pays well. but like i'll be able to afford a house thats 500K + ... **** were I live right now you can't get a decent house under 300K,

people are trying to sell these ****ing shit hole houses for 250k. and in reality it might have cost 50K to build it.

anyways looks like i'm going to be living in an apartment for the rest of my life.
it all depends on how you want to live.

I personally would live in shitty, cheap apartments to save on the price of an expensive one and bank all the extra $$$ until I can afford a house.

If you make good money then figure out what's important to you. Living well/large or your future/equity.

Then again there's a case to be made for living in apartments and putting what you'd spend on mortgage + interest + utilities + etc into a savings account and then transitioning into investments of some sort.

Buying a house isn't always the best option IF you can save the $$ each month/year on what you'd spend on a house.

[Bowlcut]

Its bullshit out here. People say sell? Why so you can get a place thats more expensive? Makes no sense.

My advice for anyone in a condo would be to consider selling and renting.
Take the tax free capital gain and park it in investment of choice, and when Canada real estate corrects downward buy into the market.

In 2006 and early 2007 everybody laughed at people who thought US real estate was overpriced. The reality is the only reason that home prices have been increasing in Canada is support by the Federal Gov, Bank of Canada, and other factors such as the HST increase.

Home prices are way out of line of incomes, though Vancouver and the GTA benefit from foreign demand, the reality is that having a mortgage that eats up 70% of one's monthly income is not sustainable.

If Greece defaults this year we could see a cascading effect and see much higher rates.

However one needs to compare how much it costs to rent monthly vs the housing expense (should include mortgage payment, insurance, school board taxes, property taxes, and capital expenditure to maintain the dwelling).

In Montreal condos are selling for $300/sq foot with a monthly housing expense of twice that of renting because this that 300K condo is going to cost you around $3800 in taxes each year.

[natenator]

Its bullshit out here. People say sell? Why so you can get a place thats more expensive? Makes no sense.
bingo. You'd have to move to an area that have housing prices less than what you could currently sell for which either means a job change or a long ass commute.

[Bowlcut]

bingo. You'd have to move to an area that have housing prices less than what you could currently sell for which either means a job change or a long ass commute.

Certainly very valid point and there are soooooo many factors involved that it is tough to come up with a one size fits all answer, but for somebody owning a condo in DT Montreal it would not be much for them to sell and rent just as nice of a place for cheap.

[natenator]

Certainly very valid point and there are soooooo many factors involved that it is tough to come up with a one size fits all answer, but for somebody owning a condo in DT Montreal it would not be much for them to sell and rent just as nice of a place for cheap.
I agree.

I almost took a job in the fall and was SHOCKED at the prices of apartments there. Made me think why would I ever buy?

[hulkster]

holly eff how could anyone afford that shit

[hulkster]

..ahh jobs

[JonnyO]

My sister lives in Trois Rivier, I sure as hell would not want to live but within driving distance to whatever you need. Its a really nice neighborhood, clean and new. Big house and they paid below 250k for that. Huge yard, nice deck and all. That there would be one of the million dollar homes out here Im sure depending on location of course.

I keep telling my wife when we retire we're moving to Thailand and living like Royalty on our pensions.

[guest]

home prices are getting so high that the West Van Fire Depart doesn't even require new members to live there because they know no one can afford to.

[JonnyO]

Bana nice Avi, lmao.

[champion99]

people have too set up grow op's in their houses in Vancouver to pay for the mort...lol..lol..

[monkey]

I live DT Vancouver and the rent or buying a house is pathetic..
I am making ok money ( going to change.. but you gotta pay your dues when articling..)

The funny thing is that even with ok money, I still have to watch what I do... I then wonder how people survive with a lesser education etc.. let alone have kids, wife a house etc..

I know a few people that make between 70-80 K and still cant afford a house.. so how is someone with 50 k ever gonna make it...

[faller]

The thing most people don't realize is there 's a lot of money out there, a lot! Most people start out buying small, build up equity, sell and buy up. Vancouverites are now selling their million dollar homes, moveing here to Van. Island and buying for 400,000/500,000 and have lots of money left over.

In the last couple of years my wifes client base from Van. has been growing at an alarming rate which is a God send since clients from the states has dropped right off. Albertans and Vancouverites are moveing here in droves.

Kinda funny reading some of the posts, the long time locals here think the houseing prices are insane, yet people from Alberta or Van think its a bargain. I guess its all relative.

[Bowlcut]

I agree.

I almost took a job in the fall and was SHOCKED at the prices of apartments there. Made me think why would I ever buy?

MTL is the worst city in Canada to own. My missus wants to buy a condo and I am trying to convince her not to, but her family friend is mortgage broker and hits her with cliches such as "throwing your money away".

The property taxes is what really hits people, not mention the condo feeds too. I have mentioned this before but my friend pays about $620/month in taxes and fees for his loft. That is almost rent for a decent place outside of downtown.

[kloan]

The people my sister rents from just bought that house for $1.2 million. It's not even a nice house.. needs a lot of work. Only thing going for it is the location I guess.

I can't even imagine how much their mortgage is, property taxes, etc.

They rent out the upper apartment to my sister (and her roommate), but that's only $1650. Definitely won't cover the mortgage. No idea how people can do this.

I would never, ever pay $1.2 million dollars for a house like that. Totally insane.

[Bowlcut]

The people my sister rents from just bought that house for $1.2 million. It's not even a nice house.. needs a lot of work. Only thing going for it is the location I guess.

I can't even imagine how much their mortgage is, property taxes, etc.

They rent out the upper apartment to my sister (and her roommate), but that's only $1650. Definitely won't cover the mortgage. No idea how people can do this.

I would never, ever pay $1.2 million dollars for a house like that. Totally insane.

This same scenario unfolded in the USA during the bubble wear people could rent in Connecticut for about 1/3 of the monthly mortgage and taxes. My brother was paying about $2200 a month for a decent 2 bedroom in like a North Van like community. Greenwich would be like the Shawnessy, Westmount, Riverdale, etc.

They can write off the mortgage interest, taxes, and other expenses off against the rental income, but there is a huge opportunity cost with tying up so much cash in an illiquid investment.

Are the people living in the lower half of the home though?

[kloan]

Are the people living in the lower half of the home though?
Actually, yes they are.

[Bowlcut]

Actually, yes they are.

Not too bad if they could ask for the rent in cash, but just have to make sure the revenue man wouldn't notice a separate entrance.

[revolution187]

theres alot of rich folk living in van who have passed money down generations down, also there are alot of people from hong kong with cash, combine that with all the dealers and growers and u have an out of control real estate market, i bet no matter how high the prices get their will always be an inheritance, hong konger or dealer/grower who can afford it, there is no way a $22/hr guy is going to buy a $650,000 house

[faller]

Don't forget about the people that have lived in the same home for 30+ years.

But speaking of drug money, i've heard figures of upwards of 30% of Whistlers wealth is drug related.

[guest]

Don't forget about the people that have lived in the same home for 30+ years.

But speaking of drug money, i've heard figures of upwards of 30% of Whistlers wealth is drug related.

...or do you mean Kelowna? ......er wait, that might be closer to 50% lol

[fitfanatik]

LOL my apartment in Kits is on the market at $399,000 and its a small shitty dark cavern.

Hey neighbour! I'm on 13th and ...look for the house with the chickens in the back yard..lol...true story.

[ubcpower]

Hey neighbour! I'm on 13th and ...look for the house with the chickens in the back yard..lol...true story.

I am on 4th. Wish i could fit in a chicken, i have to settle for costco eggs ;)

[natenator]

Hey neighbour! I'm on 13th and ...look for the house with the chickens in the back yard..lol...true story.
house. Burbs. chickens?

WTF?

[faller]

I heard something about the whole chicken thing. I think they're talking about allowing it in Nanaimo as well. Chickens in the city, too funny!

[fitfanatik]

house. Burbs. chickens?

WTF?

lol...i guess that post was useless without a pic.
http://i70.photobucket.com/albums/i114/fitfanatik/CIMG0368-1.jpg
http://i70.photobucket.com/albums/i114/fitfanatik/CIMG0369-1.jpg
http://i70.photobucket.com/albums/i114/fitfanatik/CIMG0367.jpg

lol
moved here during the olympics so the market was tight. Found this place 3 blocks off west broadway and 8 blocks from Popeyes supps...and when i saw the :shock chickens in the back yard i knew i was supposed to live here.lol.. I guess they all have names....Gertrude...and crew...buddy picked them up for $4 each...lol

[natenator]

lol...i guess that post was useless without a pic.
http://i70.photobucket.com/albums/i114/fitfanatik/CIMG0368-1.jpg
http://i70.photobucket.com/albums/i114/fitfanatik/CIMG0369-1.jpg
http://i70.photobucket.com/albums/i114/fitfanatik/CIMG0367.jpg

lol
moved here during the olympics so the market was tight. Found this place 3 blocks off west broadway and 8 blocks from Popeyes supps...and when i saw the :shock chickens in the back yard i knew i was supposed to live here.lol.. I guess they all have names....Gertrude...and crew...buddy picked them up for $4 each...lol
do you eat them? Or just got pets? lol

[faller]

Is there a limit on how many you can have? And what about rooster's, are they allowed?

[fitfanatik]

I am on 4th. Wish i could fit in a chicken, i have to settle for costco eggs ;)

Bro...You'll have to mark your calendar for may 14 and 15! Ritch Gaspari and Mark Alvisi will be @ Popeyes from 2-6 on friday...AND ON SATURDAY!

AVA COWAN WILL BE AT POPEYES KITSILANO MAY 15/10----10AM-12PM!!!
http://i663.photobucket.com/albums/uu358/pipsnchicks/babes/Ava-Cowan-Beach-014.jpg

BJ Penn as well May 22+23rd

5 days to WBFF BC...u goin?

[fitfanatik]

Is there a limit on how many you can have? And what about rooster's, are they allowed?

Not sure they're not mine...but at 4$ each...u cant go wrong. Buddy had up to 7 but there was some territorial issues so they are gone. They are smarter than i thought...lol. I'll find out more...