Real Estate

Vancouver housing bubble?

  • Last Updated:
  • Aug 13th, 2018 7:37 pm
Tags:
None
Newbie
Dec 23, 2007
22 posts
3 upvotes
Burnaby
Yep was at a open house for a condo in DT Vancouver and condos around $650k and under are selling like hot cakes! This unit was priced below market at about $1000/sqft to get buyers attention and sold for about $1250/sqft with 27 offers, so there is another 26 other buyers who still want to buy. Supply not enough in the good areas and most buyers were looking to buy as a rental property so the "investment" supply is definitely the not enough.
Deal Fanatic
Jan 27, 2006
8585 posts
2920 upvotes
Vancouver, BC
supraboi wrote:
Feb 11th, 2018 6:57 pm
Yep was at a open house for a condo in DT Vancouver and condos around $650k and under are selling like hot cakes! This unit was priced below market at about $1000/sqft to get buyers attention and sold for about $1250/sqft with 27 offers, so there is another 26 other buyers who still want to buy. Supply not enough in the good areas and most buyers were looking to buy as a rental property so the "investment" supply is definitely the not enough.
In a hot market, most people aren't looking for the traditional real estate investment - ie. buy and rent it out to let the rent do your payments over the long term. They are looking for a property that they can turn around and sell in a years time and make some good coin without the hassle of renting it out. After all, investors were renting their properties out, we would see a glut of rental properties out there (which we aren't) - just like what I saw when I went down to Phoenix in 2009.
Deal Addict
Jan 14, 2009
1601 posts
628 upvotes
Vancouver, BC
Motoss wrote:
Feb 10th, 2018 10:12 am
No amount off supply will fulfill the appetite of offshore money parking cash in Vancouver houses. Supply is not the issue - again this has been debunked several times.
Prices are still high so there is not enough supply to meet demand. Price is a function of supply and demand. I don't know why it is confusing to you. Growing supply is better than killing demand. Don't over complicate things.
Deal Addict
Dec 27, 2006
1671 posts
701 upvotes
zakarydoks wrote:
Feb 11th, 2018 7:55 pm
Prices are still high so there is not enough supply to meet demand. Price is a function of supply and demand. I don't know why it is confusing to you. Growing supply is better than killing demand. Don't over complicate things.
Maybe spend sometime rereading the past 10 pages - hopefully that will clarify things for you.
Deal Addict
Jan 14, 2009
1601 posts
628 upvotes
Vancouver, BC
Motoss wrote:
Feb 11th, 2018 8:01 pm
Maybe spend sometime rereading the past 10 pages - hopefully that will clarify things for you.
I did. Lots of misconceptions. I'm here to clarify.
Deal Addict
Jan 14, 2009
1601 posts
628 upvotes
Vancouver, BC
craftsman wrote:
Feb 10th, 2018 2:20 pm
'Investment' supply is the issue... since there's a lack of 'investment' supply, the 'investment' demand starts pulling in 'livable' supply which causes an issue with the current 'livable' market.

They are the same supply. The "investment" supply will eventually be lived in, either by the current owners, future owners, or rented out. Government has to encourage owners to rent out their vacant units. Some homes will never be occupied full time because not every Vancouver resident lives here full time. A city with high percentage of residents with roots in Asia will inevitably have more part time residents. Vancouver also has many residents working overseas and their homes would be empty too. There is nothing wrong with having part time residents in Vancouver. They bring much needed investment and cultural enrichment (the good kind).
Deal Addict
Jan 14, 2009
1601 posts
628 upvotes
Vancouver, BC
supraboi wrote:
Feb 11th, 2018 6:57 pm
Yep was at a open house for a condo in DT Vancouver and condos around $650k and under are selling like hot cakes! This unit was priced below market at about $1000/sqft to get buyers attention and sold for about $1250/sqft with 27 offers, so there is another 26 other buyers who still want to buy. Supply not enough in the good areas and most buyers were looking to buy as a rental property so the "investment" supply is definitely the not enough.
That's my observation of DT too. Supply dried up in 2016 and new developments are mostly high end due to high cost of land. Lots of out of towners won't live outside of the downtown core but I can see why. Downtown Vancouver is really convenient.

Locals should avoid locations with low inventory and high demand. Young people should check out Surrey. Skytrain and lots of amenities.
https://www.realtor.ca/Residential/Sing ... bia-V3T1V6
Deal Addict
Dec 27, 2006
1671 posts
701 upvotes
zakarydoks wrote:
Feb 11th, 2018 9:16 pm
Pay walled but I think it's the one written by a gender studies lecturer at Kwantlen Surrey. I don't need economic lessons from communists.
Sure - can you share the research you have ?
Deal Addict
Dec 27, 2006
1671 posts
701 upvotes
zakarydoks wrote:
Feb 11th, 2018 8:11 pm
They are the same supply. The "investment" supply will eventually be lived in, either by the current owners, future owners, or rented out. Government has to encourage owners to rent out their vacant units. Some homes will never be occupied full time because not every Vancouver resident lives here full time. A city with high percentage of residents with roots in Asia will inevitably have more part time residents. Vancouver also has many residents working overseas and their homes would be empty too. There is nothing wrong with having part time residents in Vancouver. They bring much needed investment and cultural enrichment (the good kind).
Source?
Deal Addict
Jan 14, 2009
1601 posts
628 upvotes
Vancouver, BC
Motoss wrote:
Feb 11th, 2018 9:28 pm
Sure - can you share the research you have ?
I don't need research because it is a widely accepted economic principal. Prices increase when demand outstrips supply. Don't listen to communists, they will lead you to a dark unhappy place. Revel in the fact you live in a city so beautiful that people all over the world wants to own a home here. I want to keep it that way. You should thank me.
Deal Addict
Dec 27, 2006
1671 posts
701 upvotes
zakarydoks wrote:
Feb 11th, 2018 9:34 pm
I don't need research because it is a widely accepted economic principal. Prices increase when demand outstrips supply. Don't listen to communists, they will lead you to a dark unhappy place. Revel in the fact you live in a city so beautiful that people all over the world wants to own a home here. I want to keep it that way. You should thank me.
Source ?
Deal Addict
Jan 14, 2009
1601 posts
628 upvotes
Vancouver, BC
Motoss wrote:
Feb 11th, 2018 9:29 pm
Source?
Personal observation. My family, friends, classmates, neighbours, myself when I was younger.

Also, 1 million Canadians in the US and 300,000 Canadians in HK. The 300,000 Canadians in HK probably lived in Vancouver or Toronto.
https://en.wikipedia.org/wiki/Canadians
Deal Addict
Dec 27, 2006
1671 posts
701 upvotes
zakarydoks wrote:
Feb 11th, 2018 9:43 pm
Personal observation. My family, friends, classmates, neighbours, myself when I was younger.

Also, 1 million Canadians in the US and 300,000 Canadians in HK. The 300,000 Canadians in HK probably lived in Vancouver or Toronto.
https://en.wikipedia.org/wiki/Canadians
Good to know - so you just made it up and I’m going to believe you?? Get back to me when you have a legitimate source, otherwise you are just a time time waster.

Top

Thread Information

There are currently 2 users viewing this thread. (1 member and 1 guest)

AndyZoooo