Real Estate

Vancouver housing bubble?

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  • Mar 26th, 2024 5:10 pm
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Deal Fanatic
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Jan 14, 2009
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Vancouver, BC
Piklishi wrote: Have you noticed the taxes that these mid range houses have? $6500 to $7000 easy. That's like $600 bucks a month. A decade ago that was a decent amount to rent an apartment. I read somewhere that taxes will go up 40% in the next 5 years.
They are pissing away so much money. There has been no service improvement and the city is uglier than ever.

Thanks the God I have a plan B.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Deal Addict
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Jul 25, 2015
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Burnaby, BC
Can you share your plan B? Maybe some will follow.
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Jan 14, 2009
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Piklishi wrote: Can you share your plan B? Maybe some will follow.
I'm moving to HK lol.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
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Jul 25, 2015
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zakarydoks wrote: I'm moving to HK lol.
Are you sure that's a good idea? From what I have heard, or whatever propaganda has wanted me to know is that: HK is even more expensive than here and second China has taken over( not sure if it's a good or bad thing though)
Deal Fanatic
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Jan 14, 2009
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Piklishi wrote: Are you sure that's a good idea? From what I have heard, or whatever propaganda has wanted me to know is that: HK is even more expensive than here and second China has taken over( not sure if it's a good or bad thing though)
There are trade offs for sure. We already got a place to live in HK so cost of living is around the same but HK is cleaner and safer. As I become older I'm beginning to see the benefits of a more orderly society. I want my kids to experience both cities. They can choose to live wherever they want.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
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Dec 13, 2016
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zakarydoks wrote: There are trade offs for sure. We already got a place to live in HK so cost of living is around the same but HK is cleaner and safer. As I become older I'm beginning to see the benefits of a more orderly society. I want my kids to experience both cities. They can choose to live wherever they want.
What nationality is yous?
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Jan 14, 2009
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BiegeToyota wrote: What nationality is yous?
Canadian, 4th generation. HK permanent resident from mom.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Deal Addict
Dec 5, 2009
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notenoughsleep wrote: https://vancouver.citynews.ca/2021/12/0 ... ber-sales/

B.C.'s hot housing market expected to hit record by end of year
Yup. Last 2 months have been crazy, and next 3 months will be just as crazy. Listings are at decade lows and will continue to drop while sales remain strong (they don’t even need to be at record highs given our inventory situation).
The last few months have been the hottest oct/nov on record in terms of MOI…
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Jan 14, 2009
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Alpine84 wrote: Yup. Last 2 months have been crazy, and next 3 months will be just as crazy. Listings are at decade lows and will continue to drop while sales remain strong (they don’t even need to be at record highs given our inventory situation).
The last few months have been the hottest oct/nov on record in terms of MOI…
November, $2,182,570.

Should I be laughing or crying lol?
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Deal Fanatic
May 22, 2003
9325 posts
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Vancouver
zakarydoks wrote: November, $2,182,570.

Should I be laughing or crying lol?
Tears of joy if you own property.
Tears of sadness if you are trying to get into the market.
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Dec 5, 2009
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Craziest sale of the year.... 2M for a 0.05ac lot character home.
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May 23, 2006
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is the last 12 months the most gain ever in CDN real estate history for a 12 months period?
Deal Expert
Jan 27, 2006
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Vancouver, BC
notenoughsleep wrote: Tears of joy if you own property.
Tears of sadness if you are trying to get into the market.
Unless you are planning to upgrade/upsize the home - then there is fear with a fast-moving market as you might have to buy the new place before selling the old one in order to lock in a purchase price.
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Jan 25, 2021
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Alpine84 wrote: Yup. Last 2 months have been crazy, and next 3 months will be just as crazy. Listings are at decade lows and will continue to drop while sales remain strong (they don’t even need to be at record highs given our inventory situation).
The last few months have been the hottest oct/nov on record in terms of MOI…
I was curious so I looked up the inventory stats on REBGV

These are active listings for November just for SFH:
2021: 2918
2020: 3806
2019: 4786
2018: 5787
2017: 5299
2016: 4724

It becomes harder to find data prior to 2016. The lack of inventory really is mystifying. Back in summer, realtors were saying inventory is low and how it will get better but that supply just never materialized.
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Jan 14, 2009
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Looksmooth wrote: I was curious so I looked up the inventory stats on REBGV

These are active listings for November just for SFH:
2021: 2918
2020: 3806
2019: 4786
2018: 5787
2017: 5299
2016: 4724

It becomes harder to find data prior to 2016. The lack of inventory really is mystifying. Back in summer, realtors were saying inventory is low and how it will get better but that supply just never materialized.
What's the incentive to sell your primary detached home? Cash is trash lol. Trying to be smart with your family's home and legacy seems very risky.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Sr. Member
Jul 4, 2017
799 posts
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Looksmooth wrote:
It becomes harder to find data prior to 2016. The lack of inventory really is mystifying. Back in summer, realtors were saying inventory is low and how it will get better but that supply just never materialized.
Is it really that mystifying? A lot of people live in their houses, if they sell they need to take out a larger mortgage to buy the next one (even if they want a place in similar value, lots of taxes, fees, etc. to burn your money on). People who won the housing lottery are priced out of buying up further, so they just hold.

And investors don't sell either (why pay capital gains, even if 50% inclusion), they just take out equity and buy more.
Deal Fanatic
Jun 29, 2007
6041 posts
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Vancouver
Alpine84 wrote: Craziest sale of the year.... 2M for a 0.05ac lot character home.
Holy cow, 0.05 ac is like only 2200 sq ft.

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