Real Estate Talks

"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

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.

By 1893, a lot in the same area sold for $1,100, and, by 1900, an adjoining lot went for roughly $4,250. Incredibly, by 1912, – at a time when wages were roughly 50 cents an hour, and a tailored suit cost less than $40 – a lot in the very same area was worth $725,000.

However, the prewar boom was not to last. Between 1913 and 1915, following the U.S. stock market collapse, and resultant worldwide depression, Vancouver’s real estate bubble burst for the first (and possibly only) time; suddenly, commercial rents declined by 50%, and ordinary working people, no longer able to meet their obligations, defaulted on their loans. The city of South Vancouver went into receivership. The market was decimated. In fact, there is one recorded instance of a corner lot on Cambie and Broadway being listed for $90,000, and eventually selling for less than $8,000.

 - See more at: http://thedependent.ca/featured/land-de ... iw39F.dpuf

Common Geyser, use your brain!

It was a specific lot mentioned in the article, not "average vancouver house price"!! Why people spent that much money for a lot is beyond me, ... maybe it was for a very expensive highrise, or a new landmark in the city, but definitely you can't sell each and every ( an average) lot in Vancouver for that price!

Do you know how much it worths today for $887,000 in 1911? I guess you have to time a factor of 100! I don't have to split hair for your article, I just know this number can not be " an average Vancouver house price".

The Early Years


James Quiney's Real Estate Office, circa 1920. Image Courtesy of the Vancouver Archives

In 1887, only a year after incorporation, Vancouver had 12 grocery stores and 16 real estate firms. The city’s first mayor, Malcolm McLean, was a real estate agent. But, in the late 1870s, before the arrival of the CPR, land in what is now downtown Vancouver sold for approximately $1.00 an acre. Previous to that, the West End itself was granted to  Englishmen Samuel Brighouse, John Morton and William Hailstone for a total of 116 pounds (a sum thought to be so exorbitant that it earned them the nickname “The Three Greenhorns”). However, by 1886, with the announcement that Vancouver would be the home of the CPR’s coveted Western Terminus, property values skyrocketed, and suddenly a lot near Granville and Dunsmuir was selling for $400. By 1893, a lot in the same area sold for $1,100, and, by 1900, an adjoining lot went for roughly $4,250. Incredibly, by 1912, – at a time when wages were roughly 50 cents an hour, and a tailored suit cost less than $40 – a lot in the very same area was worth $725,000. Property speculation was so rampant that, when the first CPR land auction took place in 1886, (the railway was granted large tracts of land in exchange for extending their Western Terminus) Vancouver CEO Harry Abbott realized with dismay that speculators “had seized upon all the best sites without any intention of putting up buildings.” By 1889, proceeds from the sale of granted land in Vancouver had made the CPR more money than in all other company towns across the country, combined.

- See more at: http://thedependent.ca/featured/land-de ... VfDop.dpuf

Common Geyser, use your brain!

It was a specific lot mentioned in the article, not "average vancouver house price"!! Why people spent that much money for a lot is beyond me, ... maybe it was for a very expensive highrise, or a new landmark in the city, but definitely you can't sell each and every ( an average) lot in Vancouver for that price!

Do you know how much it worths today for $887,000 in 1911? I guess you have to time a factor of 100! I don't have to split hair for your article, I just know this number can not be " an average Vancouver house price".

Common Geyser, use your brain!

It was a specific lot mentioned in the article, not "average vancouver house price"!! Why people spent that much money for a lot is beyond me, ... maybe it was for a very expensive highrise, or a new landmark in the city, but definitely you can't sell each and every ( an average) lot in Vancouver for that price!

Do you know how much it worths today for $887,000 in 1911? I guess you have to time a factor of 100! I don't have to split hair for your article, I just know this number can not be " an average Vancouver house price".

Exactly. People mentioning old articles are funny level 2.

always look back...it might support your delusions

Vancouver isn't the same as Tokyo. That's halfway across the world.

Japan is quite far away and has many differences, that is not related with Vancouver

Japan is quite far away and has many differences, that is not related with Vancouver

Japan is quite far away and has many differences, that is not related with Vancouver

even a dipshit should know this. Japan has a NO IMMIGRATION POLICY

Japan is quite far away and has many differences, that is not related with Vancouver

even a dipshit should know this. Japan has a NO IMMIGRATION POLICY