Real Estate

Vancouver housing bubble?

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  • Mar 30th, 2020 10:31 am
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Sr. Member
Feb 5, 2013
592 posts
109 upvotes
mattieuk wrote: Again, I would point out that there is no hard evidence collecting this data - so qualifying someone as "local" is neither here nor here, as the definition isn't being collated in any meaningful manner.
Perhaps I agree with this statement. But you were trying to advance your own position which was not supported by facts either.

But, we do know as fact who bought it. We do know where his business interests lie, and we do know that his home purchase was not counted as a foreign purchase as his family has PR.
Deal Expert
Feb 29, 2008
23706 posts
2882 upvotes
Montreal
popbottle wrote: http://www.vancitybuzz.com/2015/06/vanc ... le-survey/
"While housing and cost of living metrics likely went against Vancouver’s favour, the Monocle ranking gave “intangibles” a greater emphasis including culture, closing time of bars, price of dining out, and proximity to seas, lakes and mountains.

With a greater focus on these metrics, Vancouver, Paris, Lisbon and Geneva have risen in the rankings while Helsinki, Munich and Zurich have taken a fall."
Clsoing time of bars? Montreal wins.
Deal Expert
User avatar
Oct 19, 2003
19162 posts
6043 upvotes
Toronto (Bloor West …
mr_raider wrote: Clsoing time of bars? Montreal wins.
When do bars close in BC? It has been a long time before I actually would have wanted alcohol to be served later than it already is... :P
Deal Fanatic
User avatar
Apr 20, 2011
5310 posts
481 upvotes
Vancouver
To the moon!!!

http://www.vancitybuzz.com/2015/06/more ... rket-soon/
"Currently, China law prohibits citizens from moving more than $50,000 a year per person out of the country. Though many have found creative ways around that rule, most notably to invest large sums in North American real estate where they feel their money is safe from prying eyes, loosening of the law could promote the Yuan overseas and cause a mass influx of Chinese money into the Canadian economy"
Deal Addict
Jan 14, 2009
1675 posts
669 upvotes
Vancouver, BC
popbottle wrote: To the moon!!!

http://www.vancitybuzz.com/2015/06/more ... rket-soon/
"Currently, China law prohibits citizens from moving more than $50,000 a year per person out of the country. Though many have found creative ways around that rule, most notably to invest large sums in North American real estate where they feel their money is safe from prying eyes, loosening of the law could promote the Yuan overseas and cause a mass influx of Chinese money into the Canadian economy"
Hopefully this will cushion the impact of the decline in energy.
Deal Fanatic
Oct 7, 2007
6265 posts
2505 upvotes
Not trying to burst any bubbles (figuratively speaking of course) but is anyone else getting tired of the Vancouver real estate subject? If it were me looking to buy and feeling frustrated, I just wouldn't right now. End of story. I don't think one should give in if they don't believe what they are doing is right, even if it appears that everyone else is doing it. So if one thinks Vancouver real estate is overpriced right now (which I believe most people do), don't buy.
Deal Fanatic
User avatar
Apr 20, 2011
5310 posts
481 upvotes
Vancouver
June 18 2015
http://www.theglobeandmail.com/news/bri ... e25011087/
"The average price for detached homes within the city of Vancouver surged 19.2 per cent over one year to hit a record $2.23-million last month.

But the B.C. Real Estate Association argued last week that the primary reason behind higher housing values is densification, notably the reduced supply of detached homes and the focus on building condos on a limited land base. The influence of foreign buyers from countries such as China has been vastly overstated for the broader housing market, said the association, which asserts that offshore money has primarily flowed into high-end detached homes on Vancouver’s west side – not condos and townhouses in the suburbs."
Deal Fanatic
User avatar
Apr 20, 2011
5310 posts
481 upvotes
Vancouver
in BC, commission rates(above $100,000 in listing price) stay the same unlike in Ontario where they go up with house prices. There is no movement in BC for commissions to be changed to an excessively complicated system. Instead, there is a ride variety of commission options already permitted, including hourly.

http://www.news1130.com/2015/06/25/bett ... ys-expert/

"Rokham Fard with the company does point out Vancouver’s curb appeal which is living near an ocean and the ample green space are nothing to sneer at"


http://www.cbc.ca/news/canada/british-c ... -1.3127654
"We've seen house prices double and in some cases quadruple in the last 15 years. Why can't that be controlled?

It depends on where you live. We can't react to an issue on housing just based on one small portion of the market in Vancouver.

If you look at condominium and townhouse projects across the regions, there's a number of areas where the costs are quite flat. The reason they're flat is because of supply.

You get these bubbles where there's a shortage of listings and people chase a home and they'll actually outbid each other to buy it. In other areas of the Lower Mainland you could have a situation where people can buy at the asking price or below."
Deal Fanatic
User avatar
Apr 20, 2011
5310 posts
481 upvotes
Vancouver
Aug 5, 2015
http://www.cbc.ca/news/canada/british-c ... -1.3180399
"Despite less inventory, home sales last month grew more than a third above the 10-year average, with 3,978 properties sold — still down from 4,375 sales in June.

"Today's activity continues to benefit sellers as home buyers compete for the homes available for sale," Darcy McLeod, president of the board said in a statement Wednesday.

As demand for homes outstrips supply, prices continue to rise.

The benchmark price for a detached home in Metro Vancouver rose 16.2 per cent compared to July 2014, to reach $1,141,800.

Apartment prices rose 5.9 per cent, and attached homes by 7.8 per cent compared to July 2014."
Deal Fanatic
Oct 7, 2007
6265 posts
2505 upvotes
I can't recall now where I saw or read it but about six weeks ago I saw something that said that detached homes are appreciating about $65k per month. Insanity!!!

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