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oli
Real Estate Talker
Posts: 69
Joined: Fri Sep 04, 2015 10:00 pm

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Sat Jan 02, 2016 1:37 am

New townhouses are going up everywhere in Vancouver, especially around the major corridors where existing detached houses are getting fenced off. Will we get to a point (soon) where there will be an OVER supply of townhouses? I question whether the TH will appreciate at the same rate it's been.

There's been stories of old condos in the West End getting bought out by developers at 2x the value. What does everyone think about that?
 
tdma800
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Re: New to Real Estate (Vancouver) - Need Strategic Advice

Sat Jan 02, 2016 8:19 am

30,000 people a year need a place to live
 
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DAB
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Location: vancouver

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Sat Jan 02, 2016 4:03 pm

Condos lack the 3 bedroom and space that a townhouse will provide. Also townhouses are more affordable for a family than houses. So I do not see an oversupply in them down the road.
 
Geyser
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Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Sat Jan 02, 2016 6:33 pm

tdma800 wrote:
30,000 people a year need a place to live


Immigration continued to be strong during the price reversal in 2008 and that tumble continued until the government intervened. Immigration was also quite strong in 1982 when Vancouver home price dropped by between 40% and 50%, but people prefer to forget that.
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
tdma800
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Re: New to Real Estate (Vancouver) - Need Strategic Advice

Sat Jan 02, 2016 6:38 pm

250,000 a year come to canada to live somewhere and need to buy or rent from what is mostly a low vacancy city. to the moon
 
Geyser
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Location: In a van down by the river

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Sat Jan 02, 2016 6:39 pm

DAB wrote:
Condos lack the 3 bedroom and space that a townhouse will provide.


There are large condos available in the 2,000 and more sq. ft. range, but they tend to be very expensive if they are well located. Suburban townhouses make a sound alternative for families with smaller budgets but a need for decent floor space.

Also townhouses are more affordable for a family than houses. So I do not see an oversupply in them down the road.


Yes, they are also usually a lot more affordable (per square foot) than well located Downtown condos.
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
Geyser
Real Estate Talker
Posts: 3569
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Sat Jan 02, 2016 6:41 pm

tdma800 wrote:
250,000 a year come to canada to live somewhere and need to buy or rent from what is mostly a low vacancy city. to the moon


Yeah, right. Vancouver home prices can only go up ..... until they don't. :lol:

Which real estate company do you work for?
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
tdma800
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Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Sat Jan 02, 2016 6:41 pm

DAB wrote:
Condos lack the 3 bedroom and space that a townhouse will provide. Also townhouses are more affordable for a family than houses. So I do not see an oversupply in them down the road.

Yes thats pretty basic things for people that actually own one
 
VanLord
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Posts: 288
Joined: Fri Aug 24, 2007 3:52 pm

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Mon Jan 04, 2016 9:54 pm

jimtan wrote:
So much wisdom here. Easy to forget that there are economic cycles. How much did house prices drop in the last recession? :!:

Just added:

Here's a reason why USA RE suddenly became more attractive.

"U.S. Eases 35-Year-Old Real Estate Tax on Foreign Investors"

http://www.bloomberg.com/news/articles/ ... foreigners

BTW, I was at Best Buy on Cambie at 0615. What a bust!


I don't think this law changes things that much in the US. I'm no expert in US Tax law, but the IRS is much stricter than CRA and looks at worldwide income and assets much more closely when you are a foreign owner in the US.
 
jimtan
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Re: New to Real Estate (Vancouver) - Need Strategic Advice

Tue Jan 05, 2016 12:59 pm

VanLord wrote:
I don't think this law changes things that much in the US. I'm no expert in US Tax law, but the IRS is much stricter than CRA and looks at worldwide income and assets much more closely when you are a foreign owner in the US.


Does the IRS audit the worldwide income of FOREIGN investors?
 
tdma800
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Re: New to Real Estate (Vancouver) - Need Strategic Advice

Tue Jan 05, 2016 4:27 pm

 
jimtan
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Re: New to Real Estate (Vancouver) - Need Strategic Advice

Thu Jan 07, 2016 7:08 am

Grim start to the year. China struggling. Trillions lost world-wide. Oil dowwwwwwwn.

http://www.cbc.ca/news/business/china-s ... -1.3393005
 
tdma800
Real Estate Talker
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Joined: Wed Jan 23, 2008 9:12 am

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Thu Jan 07, 2016 7:22 am

Dropping Canadian dollar makes properties cheaper for them
 
scoobydoo
Real Estate Talker
Posts: 155
Joined: Tue Oct 15, 2013 8:51 am

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Thu Jan 07, 2016 7:25 am

I know I shouldn't do this, but...

tdma800 wrote:
Dropping Canadian dollar makes properties cheaper for them


See this part of jimtan's comment.

jimtan wrote:
Trillions lost world-wide.
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: New to Real Estate (Vancouver) - Need Strategic Advice

Thu Jan 07, 2016 7:28 am

The Canadian dollar is falling a lot making it cheaper for people paying from outside Canada for real estate
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