Real Estate

Vancouver housing bubble?

  • Last Updated:
  • Jun 14th, 2019 6:05 pm
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Deal Addict
Mar 7, 2011
3414 posts
1537 upvotes
Vancouver
JayLove06 wrote:
May 20th, 2019 4:28 pm
Because charles and the other super bears are incapable of some form of objectivity here.
Thanks, you're so sweet... love ya! Face Throwing A Kiss
JayLove06 wrote:
May 20th, 2019 4:28 pm
We're on what 10+ years now? That's a lot of time wasted not to mention wasted and missed opportunities.
Yeah, too bad I only came here with 2 suitcases, eh...
Newbie
Jan 29, 2008
5 posts
6 upvotes
Vancouver
JayLove06 wrote:
May 20th, 2019 4:28 pm
Some sort of analytical component to your argument would go a long way. Please don't let me interrupt the circle jerk but Vancouver doesn't represent the rest of Canada. I know you guys are clinging to any country that is suffering a drop in home prices and ignoring the countries that are booming. Why? Because charles and the other super bears are incapable of some form of objectivity here. Using the same tired catch phrases and talking points.

Keep hoping and praying the entire country's housing market collapses. We're on what 10+ years now? That's a lot of time wasted not to mention wasted and missed opportunities.

What happened in Australia can happen in Canada? Maybe when interest only loans make up over 50% of our mortgages. Maybe if we get rid of the stress test and a host of other policies that were implemented.
I'd be for removing stress test if it comes with getting rid of CMHC. I don't think taxpayers should be on the hook for defaults.
Deal Fanatic
Feb 29, 2008
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imcanadian wrote:
May 20th, 2019 4:50 pm
I'd be for removing stress test if it comes with getting rid of CMHC. I don't think taxpayers should be on the hook for defaults.
Thing with that is with the high prices, you basically shut the door on first time home buyers for the most part. I mean, the economy will feel it for sure because the real estate market will shrink which means.....less jobs, less tax money for the government to squander. We need to have some other industry pick up the slack.

I just think younger people should have options to buy. In cities like Vancouver and Toronto, it's very difficult to save 20% down & closing costs. I think it would just play into the hands of the rich. I'm for it, but would like to see some sort of program for 1st time home buyers. Our market goes nowhere if we don't have new entrants.
Deal Addict
Mar 7, 2011
3414 posts
1537 upvotes
Vancouver
JayLove06 wrote:
May 20th, 2019 5:40 pm
I'm for it, but would like to see some sort of program for 1st time home buyers. Our market goes nowhere if we don't have new entrants.
I know, right? Without fresh blood any ponzi scheme is due to fail... Face With Tears Of Joy
Sr. Member
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Sep 19, 2008
645 posts
313 upvotes
Calgary
JayLove06 wrote:
May 20th, 2019 4:28 pm
What happened in Australia can happen in Canada? Maybe when interest only loans make up over 50% of our mortgages. Maybe if we get rid of the stress test and a host of other policies that were implemented.

Vancouver real estate is starting to melt down even without those things.

If other countries whose economies are magnitudes larger than Canada's can experience housing crash, what makes us so immune?

If you look at Australia, you'll see much of the same symptoms of our housing market, and I'm sure they have RE bulls who said Buy Now or forever be priced out who are regretting their purchase
Deal Fanatic
Feb 29, 2008
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cbr600 wrote:
May 20th, 2019 7:19 pm
Vancouver real estate is starting to melt down even without those things.

If other countries whose economies are magnitudes larger than Canada's can experience housing crash, what makes us so immune?

If you look at Australia, you'll see much of the same symptoms of our housing market, and I'm sure they have RE bulls who said Buy Now or forever be priced out who are regretting their purchase
Are we talking about Vancouver? I said Vancouver is a mess, it will be so for a long time.

As far as everywhere else outside of Vancouver, especially out East like Toronto, Ottawa, Montreal, not a single bull is regretting their purchase. Bulls here have always stressed the importance of buying property you can AFFORD to hold for the long haul. We all frowned on flipping or short term gains. I wonder if you guys read at all. I bolded it for those of you who can't read.

I don't see any bulls regretting anything. I see a bunch of priced out bears cheering for a crash not realizing they're actually screwing themselves. I'm just here for the lulz.

I don't regret my first condo purchase 10 years ago ONE BIT. But I bet if I gave you the chance to go back in time and buy, you would as would every single bear here. You all long for home ownership.
Deal Fanatic
Feb 29, 2008
7685 posts
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charlesd79 wrote:
May 20th, 2019 7:17 pm
I know, right? Without fresh blood any ponzi scheme is due to fail... Face With Tears Of Joy
The pain with each post soothes my soul. Face With Stuck-out Tongue And Tightly-closed Eyes
Sr. Member
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Sep 19, 2008
645 posts
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Calgary
JayLove06 wrote:
May 20th, 2019 7:51 pm
Are we talking about Vancouver? I said Vancouver is a mess, it will be so for a long time.

As far as everywhere else outside of Vancouver, especially out East like Toronto, Ottawa, Montreal, not a single bull is regretting their purchase. Bulls here have always stressed the importance of buying property you can AFFORD to hold for the long haul. We all frowned on flipping or short term gains. I wonder if you guys read at all. I bolded it for those of you who can't read.
AHHH I see.. so Vancouver is doomed but everywhere is OK because a crash can only happened there. Gocha

Btw i'm not a bear or bull, I'm just trying to figure out how people come to these conclusions
Deal Addict
Apr 10, 2011
1195 posts
667 upvotes
Vancouver
The "bulls" here are likely fully invested in real estate now.

They know where the market's trending. There's got to be some significant frustration that they can't get out on purchases made in the past 2-3 years if they had to (without taking a loss).

Plus, since they're fully invested, their money's tied up so they can't buy more when properties drop 10-25% this year, and another 10-25% next year.

Those currently bullish on the Vancouver market don't need to be arguing with everyone about the current realities.

They should just put their money where their words are going and start buying more properties!

After all, it's a great buying opportunity, right?
It can only go up from here?
The whole world wants to move to Vancouver right?
Vancouver is just the most perfect place to live in the world, right?

Get out there and buy some more Vancouver real estate at these prices!
(Talkers...)

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Last edited by RxMills on May 20th, 2019 9:06 pm, edited 6 times in total.
Deal Fanatic
Feb 29, 2008
7685 posts
2877 upvotes
cbr600 wrote:
May 20th, 2019 8:23 pm
AHHH I see.. so Vancouver is doomed but everywhere is OK because a crash can only happened there. Gocha

Btw i'm not a bear or bull, I'm just trying to figure out how people come to these conclusions
When the US went through their downturn, you're aware that some cities crashed and prices dropped significantly whereas others didn't suffer nearly as much right. Why do you think that is?

You really think Vancouver/BC is the same as Toronto/ON from the mentality of voters here, to economy, to our government? GTA suffered drops and yet, downtown Toronto, went up. Why do you think that is? Or do you feel that if prices are dropping in Vancouver, they drop in every other city to the same degree?
Deal Fanatic
Feb 29, 2008
7685 posts
2877 upvotes
RxMills wrote:
May 20th, 2019 8:37 pm
The "bulls" here are likely fully invested in real estate now.

They know where the market's trending. There's got to be some significant frustration that they can't get out on purchases made in the past 2-3 years if they had to (without taking a loss).

Plus, since they're fully invested, their money's tied up so they can't buy more when properties drop 10-25% this year, and another 10-25% next year.

Theyreally don't need to argue with everyone. Current bulls should just put their money where their words are going and start buying more properties!
Bulls actually have the means to buy. Bears do not. Who are you fooling?

Would tell a bear to put their money where their mouth is...but they can't.
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Sep 19, 2008
645 posts
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Calgary
JayLove06 wrote:
May 20th, 2019 8:42 pm
When the US went through their downturn, you're aware that some cities crashed and prices dropped significantly whereas others didn't suffer nearly as much right. Why do you think that is?

You really think Vancouver/BC is the same as Toronto/ON from the mentality of voters here, to economy, to our government? GTA suffered drops and yet, downtown Toronto, went up. Why do you think that is? Or do you feel that if prices are dropping in Vancouver, they drop in every other city to the same degree?
The US real estate affected every major city to some degree. I'm sure people in Vegas said that crash cant happened there.. look how much money people are bringing in!! And yet look at what happened

Also why are you so adamant that IF a crash is coming it only applies to Vancouver and rest of the country will go unscathed?
Deal Fanatic
Feb 29, 2008
7685 posts
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cbr600 wrote:
May 20th, 2019 9:01 pm
The US real estate affected every major city to some degree. I'm sure people in Vegas said that crash cant happened there.. look how much money people are bringing in!! And yet look at what happened

Also why are you so adamant that IF a crash is coming it only applies to Vancouver and rest of the country will go unscathed?
Key words "to some degree".

Dude you need to READ! I have said countless times, prices will not drop to the same degree in every bloody city. Each city/province has their own issues. You think Vancouver's issues are identical in Ottawa or Hamilton?

rices in Etobicoke dropped, prices in Richmond Hill dropped, Makrham, Vaughan, Oshawa, etc. Prices dropped after 2017 just like Vancouver. So stop acting like Vancouver had price drops while the rest of the Country didn't suffer the same. And it was due to policy. BC with NDP government is going a step further while Ontario booted the libs and Ford already reversing policies.

If your'e not going to read though, don't bother responding.
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Sep 19, 2008
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Calgary
JayLove06 wrote:
May 20th, 2019 9:59 pm
Key words "to some degree".

Dude you need to READ! I have said countless times, prices will not drop to the same degree in every bloody city. Each city/province has their own issues. You think Vancouver's issues are identical in Ottawa or Hamilton?
No they have different issues but that's my point. You cant just point at Vancouver and say well they have these issues that Ottawa does not, thus Ottawa will not suffer as bad if a crash does happened. These other cities also does not have the climate and desirability as Vancouver so it's a apple's to oranges comparison.

Anyways I'm not going to keep going. Seem like you are getting a little heated

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