This is a friendly, interactive exchange of information on all Real Estate related subjects. Follow on Twitter: @RETALKS


Search found 325 matches

  • 1
  • 2
  • 3
  • 4
  • 5
  • 22
by HomelessinSD
Tue Aug 30, 2016 1:42 pm
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 25517

Re: Vancouver's housing market crash hits home.

A year old, but outlines Canada's top 1%, 5%, 10%. You only needed to make $222k to be in the top 1% (but the average income of the top 1% earners was over $450k). Only $115k to be in the top 5%. Only $90k to be in the top 10%. Of course, most the people making these top tiered are in Ontario, Albe...
by HomelessinSD
Tue Aug 30, 2016 11:02 am
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 25517

Re: Vancouver's housing market crash hits home.

A year old, but outlines Canada's top 1%, 5%, 10%. You only needed to make $222k to be in the top 1% (but the average income of the top 1% earners was over $450k). Only $115k to be in the top 5%. Only $90k to be in the top 10%. Of course, most the people making these top tiered are in Ontario, Alber...
by HomelessinSD
Tue Aug 30, 2016 10:17 am
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 25517

Re: Vancouver's housing market crash hits home.

"The borrower has 20% down. I have not inquired about mortgages lately so forgive me if I make any wrong assumptions. To get over 25 years amortization you need to have 20% down - according to RBC website. This is 160 CAD on an 800K home. I don't know anyone who has 160k, let alone 100k to spare for...
by HomelessinSD
Tue Aug 30, 2016 7:44 am
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 25517

Re: Vancouver's housing market crash hits home.

My mistake: the mortgage calculator I was using was adding int property tax and insurance into the payment. Most people agree with you that maintenance is a "small" thing and shouldn't be considered. I disagree - houses need painting, roofs need replacing, water heaters have a shelf life, appliances...
by HomelessinSD
Mon Aug 29, 2016 3:28 pm
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 25517

Re: Vancouver's housing market crash hits home.

House in East Van - 1M Mortgage - Monthly Housing Expenses $5860 , less 2 Mortgage Helper suites $2000 total per month , leaves Monthly housing at $3860 Large Condo Downtown - 800 k Mortgage - Monthly Housing Expenses $4650 Medium Condo Downtown - 500k Mortgage - Monthly Housing expenses $3050 So l...
by HomelessinSD
Fri Aug 26, 2016 9:50 am
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 25517

Re: Vancouver's housing market crash hits home.

If two working professionals can qualify for 1 million mortgage with no CHMC that means +200,000 K down payment minimum + 150-200k year combined income. The chances are they are no idiots, some of them living pay cheque to pay cheque plossible but majority of them doing that? Highly unlikely Perfec...
by HomelessinSD
Fri Aug 26, 2016 8:18 am
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 25517

Re: Vancouver's housing market crash hits home.

Lol yeah, how many 1 million dollar mortgages are there in Vancouver to working class? I duno where you live, but you are out of touch with the city. As someone who lived in east van for the past 30+ years I can tell you the average detached home owner is not some young hot shot power couple. East ...
by HomelessinSD
Fri Aug 26, 2016 8:14 am
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 25517

Re: Vancouver's housing market crash hits home.

Working people with a motgage of 1 million?
Working class folks with 500k mortgage?
Fuck that's funny.
Why? I remember someone on this forum buying a $630k home with 10% down, that's over a $500k mortgage. This person also claims to be regular, working class person.
by HomelessinSD
Tue Aug 23, 2016 9:31 am
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 25517

Re: Vancouver's housing market crash hits home.

Valid points, but if the housing market suffers / construction lags, the economic impacts could be far reaching. The building industry impacts have been discussed on this site at some length - many have said that it is the number 1 industry (behind BC's # 1 export business) supporting the overall lo...
by HomelessinSD
Tue Aug 23, 2016 7:33 am
Forum: Real Estate Talks
Topic: Vancouver's housing market crash hits home.
Replies: 147
Views: 25517

Re: Vancouver's housing market crash hits home.

If housing dose crash and burn, is rental prices going to go through the roof? All the people who sell will need to start renting? All the new comers will rent instead of buy and wold-be buyers will stay with the wait and see. All the basement suites as well Prices can decline (or go higher) withou...
by HomelessinSD
Thu Aug 04, 2016 7:59 am
Forum: Real Estate Talks
Topic: How far can it drop? 20% or 30%?
Replies: 363
Views: 50620

Re: How far can it drop? 20% or 30%?

It won't drop 20 or 30.... it will drop 60% or wont drop at all. 20% - 30% does not bring normalcy back to this market. If it does drop, it will drop 5%, then 10%, then 15%, then 20%, etc. until it finally fits a bottom. As far as normalcy: I don't think we'll ever see that again in the Vancouver m...
by HomelessinSD
Thu Aug 04, 2016 7:58 am
Forum: Real Estate Talks
Topic: How far can it drop? 20% or 30%?
Replies: 363
Views: 50620

Re: How far can it drop? 20% or 30%?

Agree with you post 100% 1. Long term, this is not a big deal. If you have weather the storm for the next 6 months your will be fine. 2. A lot of uncertainty and some people will panic. People that are over leveraged will sell quick. I remember in 2008 when the USA had the financial meltdown many p...
by HomelessinSD
Wed Mar 23, 2016 9:12 am
Forum: Real Estate Talks
Topic: Overheating - Semven!?
Replies: 14
Views: 6570

Re: Overheating - Semven!?

Sounds to me like a astute developer / investor. Not simply doing what everyone else is, but viewing the market conditions from an objective standpoint. Could very well be a mistake, but mistakes made by not moving forward with risky deals are typically a lot less costly than mistakes made when taki...
by HomelessinSD
Wed Mar 09, 2016 6:08 pm
Forum: Real Estate Talks
Topic: Should the government intervene?
Replies: 490
Views: 71396

Re: Should the government intervene?

there are plenty of places for people to go like Pemberton and such. it's a big province You're such an asshole. There are so many good people in Pemberton... Hard working, decent, Canadian valued people. To insinuate that those who can't afford to live in Vancouver proper should have to relocate o...
by HomelessinSD
Sat Feb 13, 2016 8:38 am
Forum: Real Estate Talks
Topic: Competition keeps home sellers in the Driver Seat
Replies: 92
Views: 24166

Re: Competition keeps home sellers in the Driver Seat

Generally I would agree Geyser. That deposit money has opportunity costs. The scenario makes sense in Vancouver because the SFH is gaining 150k/yr. Even if I lost $1000mo if i rented my house I'd be up each year well over 100k. If the market ever turns that scenario turns with it. Except, my neighb...
  • 1
  • 2
  • 3
  • 4
  • 5
  • 22