Real Estate

Vancouver housing bubble?

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  • Feb 19th, 2018 8:14 pm
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Member
Sep 9, 2014
272 posts
235 upvotes
Vancouver
craftsman wrote:
Feb 13th, 2018 2:40 pm
Just did a follow-up search for houses on freehold lots in Vancouver, Burnaby, and New West (not Queensborough) under $1 million and the numbers seem to be growing with a different type thrown in the mix -

Vancouver - 6 houses (the same one on Marine Drive that didn't sell at $929,000 but is now listed at $950,000, 1 on Boundary next to Central Park, 4 in the 'rougher part of East Vancouver' at just under a million) - 2 fully renovated older home, 2 split into suites for rentals (2 or 3 suites), and 2 tear downs. This number is up big from the previous sample.

New West - 6 houses same ones as before. ($868,000 to just under a million).
Yet the one at 2255 41st East sold in two weeks, I'm guessing above asking if it was so fast but I can't be sure. And it wasn't really a "detached" anyway.

So not sure I see your posts here as really insightful or proving your point. If a laneway house sells in less than 2 weeks for over 1 mio, it seems to me the market is healthy.
Deal Fanatic
Jan 27, 2006
7443 posts
2268 upvotes
Vancouver, BC
BryanBreguet wrote:
Feb 13th, 2018 5:34 pm
Yet the one at 2255 41st East sold in two weeks, I'm guessing above asking if it was so fast but I can't be sure. And it wasn't really a "detached" anyway.

So not sure I see your posts here as really insightful or proving your point. If a laneway house sells in less than 2 weeks for over 1 mio, it seems to me the market is healthy.
Realistically, there's a lack of good detailed information in the BC market place that is available to the general public. Like you said, that one on 41st sold but we don't have any further information on what it sold for either. :(

One thing that this post does show is how the low end of the single family houses are going... or not going. After all, we have all seen the stories from a few years ago about a shack on a small lot being up for sale for a million plus. Now, we can say that the shack market is much lower and maybe, just maybe, we can infer that the houses just above shack level have also dropped in price.
Member
Sep 9, 2014
272 posts
235 upvotes
Vancouver
craftsman wrote:
Feb 13th, 2018 6:46 pm
Realistically, there's a lack of good detailed information in the BC market place that is available to the general public. Like you said, that one on 41st sold but we don't have any further information on what it sold for either. :(

One thing that this post does show is how the low end of the single family houses are going... or not going. After all, we have all seen the stories from a few years ago about a shack on a small lot being up for sale for a million plus. Now, we can say that the shack market is much lower and maybe, just maybe, we can infer that the houses just above shack level have also dropped in price.
The issue I have with it is I believe the sub 1 mio detached already existed before. They are always in shitty locations and/or pretty much require a complete rebuild, but they existed before and they still do.

If I compare with the house my friends bought a year ago for less than 1 mio, I don't see the current listing as better or worse.

But yeah, lack of data is annoying. When does BC Assessment update? Once a year, right?
Deal Addict
Jun 11, 2005
2433 posts
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Motoss wrote:
Feb 12th, 2018 7:30 pm
Yikes..

I appreciate you being so passionate about what you write as being correct, however unfortunately you are wrong.

http://vancouversun.com/opinion/columni ... ew-zealand
Hmm, Douggy Todd is one of the most narrow-minded journo's out there. No investigative reporting, but just merely quotes others or himself all the time (how many times does he quote or recite Ley's study on investor immigrant income?). Quotes the wrong "tax experts" (Lesperance and Kurland) who are really immigration lawyers.

... and after all, the link you supplied is merely an "opinion" which does not necessarily mean another view is wrong.
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Dec 27, 2006
1249 posts
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mudd_stuffin wrote:
Feb 13th, 2018 9:19 pm
Hmm, Douggy Todd is one of the most narrow-minded journo's out there. No investigative reporting, but just merely quotes others or himself all the time (how many times does he quote or recite Ley's study on investor immigrant income?). Quotes the wrong "tax experts" (Lesperance and Kurland) who are really immigration lawyers.

... and after all, the link you supplied is merely an "opinion" which does not necessarily mean another view is wrong.
Perhaps you are new to this thread - lots of links with data has been posted - look it up.
Deal Fanatic
Jan 27, 2006
7443 posts
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Vancouver, BC
BryanBreguet wrote:
Feb 13th, 2018 7:35 pm
The issue I have with it is I believe the sub 1 mio detached already existed before. They are always in shitty locations and/or pretty much require a complete rebuild, but they existed before and they still do.

If I compare with the house my friends bought a year ago for less than 1 mio, I don't see the current listing as better or worse.
You're right. I believe the odd one did pop-up now and again (maybe to start a bidding war). But it would be interesting to see if there is a trend of increasing listings, increasing quality (ie not all tear down shacks), and decreasing prices. Since we don't have access to more data, we have to make do with what we got.

BryanBreguet wrote:
Feb 13th, 2018 7:35 pm
But yeah, lack of data is annoying. When does BC Assessment update? Once a year, right?
Yes I believe so as they only make an assessment once a year (in July I believe and publish it in the new year).
Deal Addict
Jun 11, 2005
2433 posts
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Motoss wrote:
Feb 13th, 2018 9:31 pm
Perhaps you are new to this thread - lots of links with data has been posted - look it up.
Not new to the thread. Look it up.

I am pointing out how you are the one that is wrong by saying another poster is wrong just by citing an "opinion". There is never a right or wrong when it comes to an opinion, irrespective of whether you agree with the opinion and irrespective of whose opinion it is.

As for Douggy Todd, I offered my opinion of him. He is at a minimum, borderline racist. Has he written one single article on advocating immigration, even for skilled but not wealthy immigrants?

For example, he keeps reciting Ley's study of how investor immigrants pay $1400 of income tax on average. Yes that is low, but yet research (https://www.thestar.com/news/immigratio ... s-you.html) has shown that second generation kids of immigrant families do a lot better with much higher incomes and just maybe some of these families are investor immigrant families. So while the first generation investor immigrant may not pay enough income tax, that deficiency may well be made up by the next generation.

Does Todd ever dive more deeply into the data? "NO" is the resounding answer. (This is not a statement about the merit of the IIP but about how the author should be discredited, IMO.) If you parse through his articles, he is a lot more like Trump than most might think.

As for data or stats, anyone can interpret the stats to say what that person wants to say.
Deal Addict
Jun 11, 2005
2433 posts
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craftsman wrote:
Feb 14th, 2018 12:54 am

Yes I believe so as they only make an assessment once a year (in July I believe and publish it in the new year).
BC assessed values are as of July 1 and are usually made available in early Jan of the next year.
Deal Addict
Dec 27, 2006
1249 posts
354 upvotes
mudd_stuffin wrote:
Feb 14th, 2018 11:01 am
Not new to the thread. Look it up.

I am pointing out how you are the one that is wrong by saying another poster is wrong just by citing an "opinion". There is never a right or wrong when it comes to an opinion, irrespective of whether you agree with the opinion and irrespective of whose opinion it is.

As for Douggy Todd, I offered my opinion of him. He is at a minimum, borderline racist.
Has he written one single article on advocating immigration, even for skilled but not wealthy immigrants?

For example, he keeps reciting Ley's study of how investor immigrants pay $1400 of income tax on average. Yes that is low, but yet research (https://www.thestar.com/news/immigratio ... s-you.html) has shown that second generation kids of immigrant families do a lot better with much higher incomes and just maybe some of these families are investor immigrant families. So while the first generation investor immigrant may not pay enough income tax, that deficiency may well be made up by the next generation.

Does Todd ever dive more deeply into the data? "NO" is the resounding answer. (This is not a statement about the merit of the IIP but about how the author should be discredited, IMO.) If you parse through his articles, he is a lot more like Trump than most might think.

As for data or stats, anyone can interpret the stats to say what that person wants to say.
Sorry to hear you feel that way - but not surprised.

You keep bring up Doug for some reason - I have posted as have others countless other data points and not opinions from other authors....again look it up. If you have other data points to add that dispute the findings then please share.
Member
Sep 9, 2014
272 posts
235 upvotes
Vancouver
mudd_stuffin wrote:
Feb 14th, 2018 11:01 am
Not new to the thread. Look it up.

I am pointing out how you are the one that is wrong by saying another poster is wrong just by citing an "opinion". There is never a right or wrong when it comes to an opinion, irrespective of whether you agree with the opinion and irrespective of whose opinion it is.

As for Douggy Todd, I offered my opinion of him. He is at a minimum, borderline racist. Has he written one single article on advocating immigration, even for skilled but not wealthy immigrants?

For example, he keeps reciting Ley's study of how investor immigrants pay $1400 of income tax on average. Yes that is low, but yet research (https://www.thestar.com/news/immigratio ... s-you.html) has shown that second generation kids of immigrant families do a lot better with much higher incomes and just maybe some of these families are investor immigrant families. So while the first generation investor immigrant may not pay enough income tax, that deficiency may well be made up by the next generation.

Does Todd ever dive more deeply into the data? "NO" is the resounding answer. (This is not a statement about the merit of the IIP but about how the author should be discredited, IMO.) If you parse through his articles, he is a lot more like Trump than most might think.

As for data or stats, anyone can interpret the stats to say what that person wants to say.
So if you don't write articles that are pro immigration, you are racist? Really?
Deal Addict
Jun 11, 2005
2433 posts
225 upvotes
BryanBreguet wrote:
Feb 14th, 2018 2:15 pm
So if you don't write articles that are pro immigration, you are racist? Really?
I was waiting for someone like you to open up this can of worms.

Todd's title is something like the diversity writer at Post Media... except that the theme of his articles is anything but.

Let me borrow your words: So if your job is to write articles repeatedly that are anti-Chinese (with absolutely not even one mention of credit of these migrants may bring to the society), you can mask your racism by being a journalist? Really?
Member
Sep 9, 2014
272 posts
235 upvotes
Vancouver
mudd_stuffin wrote:
Feb 14th, 2018 3:03 pm
I was waiting for someone like you to open up this can of worms.

Todd's title is something like the diversity writer at Post Media... except that the theme of his articles is anything but.

Let me borrow your words: So if your job is to write articles repeatedly that are anti-Chinese (with absolutely not even one mention of credit of these migrants may bring to the society), you can mask your racism by being a journalist? Really?
You're finding intent where you want to find some.

I mean, you accuse him of racism because he mentions facts (first generation don't pay much taxes) because he doesn't mention that 2nd generation pay more? Really? Looks like you are the one trying really hard to push an agenda.
Deal Addict
Jun 11, 2005
2433 posts
225 upvotes
BryanBreguet wrote:
Feb 14th, 2018 3:13 pm
You're finding intent where you want to find some.

I mean, you accuse him of racism because he mentions facts (first generation don't pay much taxes) because he doesn't mention that 2nd generation pay more? Really? Looks like you are the one trying really hard to push an agenda.
and you are dismissing intent where you don't want to find some. So what is your point?

I did mention "for example", ICYMI. Did you not see that? I am not accusing him of racism based on that one ground but on multiple grounds. Since you cannot seem to comprehend, I am accusing him of racism because he is labeling all Chinese migrants as bad unequivocally.

Yeah, he is mentioning facts but he uses selected facts to advance his agenda. No different from using selected stats to interpret the stats in a way to say what you want the stats to say.

My agenda? Yeah, trying to un-brainwash all of you that read and believe the one-sided articles written by a branded diversity writer.
Deal Addict
Jun 11, 2005
2433 posts
225 upvotes
Motoss wrote:
Feb 14th, 2018 11:26 am
Sorry to hear you feel that way - but not surprised.

You keep bring up Doug for some reason - I have posted as have others countless other data points and not opinions from other authors....again look it up. If you have other data points to add that dispute the findings then please share.
I was not posting about your other posts... just the one when you categorized another poster as wrong by imposing an opinion on him (her?).
Deal Addict
Dec 27, 2006
1249 posts
354 upvotes
mudd_stuffin wrote:
Feb 14th, 2018 3:45 pm
I was not posting about your other posts... just the one when you categorized another poster as wrong by imposing an opinion on him (her?).
Then you’ve taken it all out of context

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