Real Estate Talks

LMAOOOO this gotta be the dumbest thread in the history of RealEstateTalks!!! Absolute insanity!!! Vancouver's housing prices have nowhere else to go but UP UP UP!!! Politics has no impact in our housing market, it's all about the rapidly rising demand on the number of wealthy people wanting to move here.

That's right! The big price collapse which have frequently happened before can never happen again because it's different this time.

Did you know that at the top of the Vancouver 1911 real estate bubble the average Vancouver house price was $887,000? No, thats not a typo, $887,000 over a hundred years ago!!! Scary stuff eh? But it does show that our current bubble could go even higher in relationship to incomes before the mother of all corrections kicks in.

http://thedependent.ca/featured/land-de ... vancouver/

LMAOOOO this gotta be the dumbest thread in the history of RealEstateTalks!!! Absolute insanity!!! Vancouver's housing prices have nowhere else to go but UP UP UP!!! Politics has no impact in our housing market, it's all about the rapidly rising demand on the number of wealthy people wanting to move here.

whoa, not so fast.
Immigration here goes from 45,000/year to zero I think we will have some price adjustments

"Geyser"

That's right! The big price collapse which have frequently happened before can never happen again because it's different this time.

Biggest price collapse 1981
Second biggest 2008-09

which one are you referring to? LOL

Quote from the article:

The reality is, nothing’s changed. Contrary to the cozy little myths about inflated land values and foreign ownership started in the 80s by mainland China, the factors that fuel the city’s vibrant real estate market are actually little different than they were 100 years ago. - See more at: http://thedependent.ca/featured/land-de ... ztNvE.dpuf

Really?
The author shows a total lack of understanding here.
Yes, the market can collapse....any time.
But I can think of five things that are different right off the bat.

1) Back in them old days the Federal Gov't just wanted labour to build the railway. There were no "financial" qualifications required on the part of the immigrant. Anybody would do. All they had to do was show up for work without their wives and family. Hence the immigrant did not need to own a house. Instead he was warehoused in downtown SRO's.
Today some immigrants are allowed in because buying a house is classified as a "business enterprise", and thus will help qualify the immigrant for citizenship.

2) Chinese and First Nation people weren't allowed to own land back then.

3) Money was backed by gold back then. There was no need to have a "store of wealth" and hence no upward pressure caused by degredation of the currency. And money was not printed like it is going out of style. There was no CMHC either.

4) There was no middle class demand for real estate back then.

5) Populations were sparse. Today in some areas it's totally congested as there is a desire to live in, or close to urban centers.

Sorry author, you have no fawking clue.
Yes the market can collapse anytime. But the reason for the boom and the reason for the bust will be beyond your level of understanding.

Did you know that at the top of the Vancouver 1911 real estate bubble the average Vancouver house price was $887,000? No, thats not a typo, $887,000 over a hundred years ago!!! Scary stuff eh? But it does show that our current bubble could go even higher in relationship to incomes before the mother of all corrections kicks in.

http://thedependent.ca/featured/land-de ... vancouver/

Holy shit, $887,000, very scary , but I think it's Vancouver 2011, not 1911.

Use your common sense Geyser.

plus...
immigrants used to be poor - now they're the wealthiest residents we have.
Inverse property ladder. Do I need to explain this again?

plus...
immigrants used to be poor - now they're the wealthiest residents we have.
Inverse property ladder. Do I need to explain this again?

Nann, nothing to do with immigrants here, no one had $887,000 in 1911.

haters will hate

I love all the people here thinking RE prices have gone up.

Sure, y/y it's gone up 8.48% in nominal terms .. but guess what, the CAD has depreciated about 24% in value that time.

If your life goals is to be stuck in Vancouver your entire existence, I'm sure that works out for you. But try to realize that the world is a bit bigger than our tiny bottom-left corner of the 11th Richest Country on Earth.

Staying here is fine unless you dislike nature . no need to go elsewhere

Austin:

If your life goals is to be stuck in Vancouver your entire existence, I'm sure that works out for you.

....hahahaha...you would rather be somewhere else? then suffer!
Who dun' tol' you to stay? Go then and quit your whining!

Even if you do stay here, the price of anything manufactured outside our country is going to go up. You think you're 8% richer, while really, everything you want to buy is 24% more.

The reality is that this 8% y/y appreciation is just an illusion unless we can some how get the dollar back down and maintain prices. And I am willing to bet a large amount of money that if the dollar goes back to par with the USD, you will see a significant drop in RE prices.

http://mobilesyrup.com/2015/03/09/apple ... in-canada/

Today, just after the Apple Watch “Spring Forward” event, Apple increased the pricing for both the unlocked iPhone 6 and iPhone 6 Plus on its online store. The reason for the sharp increase is the exchange rate with the US dollar, and is similar to what we saw with App Store pricing. Here’s the new Canadian pricing:

iPhone 6 (no term):
– 16GB: $839 (was $749)
– 64GB: $969 (was $859)
– 128GB: $1,099 (was $969)

iPhone 6 Plus (no term):
– 16GB: $969 (was $859)
– 64GB: $1,099 (was $969)
– 128GB: $1,229 (was $1,079)

What's even WORSE is that you can't tap that 8% appreciation in your house but still have to pay these higher prices.

Even if you do stay here, the price of anything manufactured outside our country is going to go up. You think you're 8% richer, while really, everything you want to buy is 24% more.

The reality is that this 8% y/y appreciation is just an illusion unless we can some how get the dollar back down and maintain prices. And I am willing to bet a large amount of money that if the dollar goes back to par with the USD, you will see a significant drop in RE prices.

.... that's why you don't like it here. You are too geared to "consumption".

You want to buy the latest gadgets and you want to gamble and bet all the time.
You must change your priorities to enjoy being here.
No, I don't like paying high prices for stuff, but I only try and just buy the things I "need", and not just "want".

https://www.facebook.com/DannyHunter47/ ... nref=story

Sure, you might be all super local, but in general that's not the case.

Even if you do stay here, the price of anything manufactured outside our country is going to go up. You think you're 8% richer, while really, everything you want to buy is 24% more.

The reality is that this 8% y/y appreciation is just an illusion unless we can some how get the dollar back down and maintain prices. And I am willing to bet a large amount of money that if the dollar goes back to par with the USD, you will see a significant drop in RE prices.

.... that's why you don't like it here. You are too geared to "consumption".

You want to buy the latest gadgets and you want to gamble and bet all the time.
You must change your priorities to enjoy being here.
No, I don't like paying high prices for stuff, but I only try and just buy the things I "need", and not just "want".

lol other challenged individuals don't know how to get local lol http://www.nestersmarket.com/