Welcome and I hope to see your work soon. We need more bears like you here!recharts wrote:Hi
I am interested in creating a set of RE charts for Canda, mostly the major cities.
I am not an investor, my view about the RE market is rather bearish and I guess that is all you need to know about me
my pleasure to join you
I have followed this forum for the better part of a year but not posted actively. Neither bull nor bear, I like hearing from all sides of a debate - especially from those willing to think and reason objectively and detach themselves from emotions when discussing the most emotional of assets. Outside of Vancouver and Richmond, I think there is value to be found in the lower mainland - but I also know from experience it is incredibly hard to find!
I have enjoyed reading (most) of your posts for awhile. I too think that the Lower Mainland will always be a desirable place to live.
Unfortunately, with desire comes demand so I think the prices will always be higher than one would like to expect.
Bifurcation of an economy, particularly Vancouver's, occurs when you have zip in terms of manufacturing and industry but tremendous inflows of money from foreigners looking to offshore their money. I won't reinvent the wheel by getting too deeply into this, because you have probably heard some of it before, before dismissing it as crazy. Bifurcation, as the term implies, destroys the middle class and creates a lot of personal trainers, barristas, dog walkers, etc...In other words you have a rich people and poor people (salt of the earth, kind of normal, nice, regular people). Vancouver is like a large cruise ship where the wealthy play on the upper decks, while below decks, working staff are stacked like cord wood in sweaty cramped quarters.
Which leads to my second term....'biflation'. Biflation describes what occurred in the U.S. and what could very well occur in Canada. Biflation describes a situation where you don't clearly have inflation or deflation, but both at the same time. There is a depression of price for credit sensitive items, like housing, with escalating prices for food and other necessary goods. Certainly there has been run away price inflation in real estate in the Vancouver region for years, with prices for everything else not quite tripling or quadrupling, but certainly doubling in the last 10 years.
Jim Rickard's book, Currency Wars and common sense, will tell you that the Canadian Central Bank will do everything in it's power to keep our dollar at or below par with the American dollar. So, how this will play out remains to be seen. But for Vancouver, price increases have very little to do with any of its exquisite features and much to do with macro-economics that rest on a bed of corruption and crony capitalism.
Oh, in the interest of full disclosure, I own commercial and residential property in the U.S. I own a home in B.C and I hold gold as a hedge because of the uncertain times we live in. And bitcoin!--I was going to buy it at 200.00..but dang...didn't do it!!
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I'm a new agent and looking for a brokerage to work with. A brokerage with a office in Surrey would be preferable. A brokerage with a mentor-ship program in place is key for me being a new agent.
About me: I'm 21 and highly motivated to be in the industry for the long run. I am a economics student at sfu Surrey. I can communicate in punjabi, hindi as well. My hobbies include working out and my truck.
Looks like it has been awhile since anyone has joined up on this site. I have to admit I just found it. I have been looking at BiggerPockets.com quite a bit but it is more US based than Canadian. Although it would be nice to find a 3 bed, 2 bath, 1200 sq ft SFR in the perfect neighbourhood for $40k, they just don't seem to be available this side of the 49th. There is still a lot of good info there and many people willing to help get you through anything that may come up.
Middle aged Male, Live in Merritt BC with my wife of 33 years, 4 kids all grown up and on their own. Moved to Merritt 3 years ago from Williams Lake to try get some better climates and closer proximatey to our kids and 4 year old grand daughter. Currently living in a personal residence with a rental suite that brings in $800/month while working full time as an Electrician in 1 of 3 local sawmills. Also just completing a fix n flip which I have been working on part time for the last year and a half. (Way to long you say? Tell me about it).
I have been involved with Real Estate since my early 20's, always owning my own home and dealing with the odd rental unit and property developement over time and have found it to be way more financially benficial than options presented by financial managers and bankers. EG: $50k in a GIC, first year made $750 didn't quite make the full second year with earnings of $400 before I pulled out of it to finance my flip. Although I was assured this was a good thing, I couldn't see retirement happening anytime in the future with this type of income behind me.
Expectations from this site?
Who knows. Hopefully meet Canadian Real Estate Investors to exchange information and gain knowledge from others experiences and dealings. Not looking for partners or co-op type of investments with others regardless of how good it looks (nothing personal it's just how I am).
Am always on the look out for local bargains and trying to find my next investment property. Seriously considering a buy n hold rental. To date my calculations say Max mortgage $175K, min income $2k/month should equal approximately $500/month cash flow after expenses. Would like to chat with someone experienced in the foreclosure arena as I have some questions...
Thanks for now,
A bit about myself:
I am in my late 20s working as a Realtor in Vancouver Metro area for a few years. I have been also working on some Entrepreneurial projects on the side in forms of web apps. I am actually working on one currently about Real Estate. The purpose is to help young people understand what Real Estate is all about, and to guide them through the process. It is still in the early stage, so I am working my butt off right now. My Fiance and I bought our first condo together not too long ago. Yay mortgage debt! Yep, that basically sums up my life.
Expectations from the site
I just want to meet some people, see what people are talking about in this Real Estate market and see what people are looking for. I am up for any casual discussions. And if people need help with anything Real Estate related, I am also open to help them as well. Looking forward to meeting some of you.
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