Real Estate

Vancouver housing bubble?

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  • Mar 26th, 2024 5:10 pm
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Deal Addict
Nov 26, 2005
3214 posts
387 upvotes
Vancouver
Alpine84 wrote: Which means that land in burnaby, coquitlam, new west, surrey, etc will either be free or people will have to pay you to take it lol. Fun times.
It is about ~20-30% cheaper to build outside of City of Vancouver due to fees and city's special building code.
The rest of BC use provincial building code, Vancouver plays politic and use its own code. For example, they require new house to be net zero emission/passive house. Thats cost a lot of money for close to 0 benefit to end user.

a builder details about rough average cost for an average build in vanocuver in a long thread:

"Keep in mind: These are rough costs for an average build in the city of Vancouver. Many cost more, some are less but it's a ballpark figure."

and that figure doesnt even include finance cost for project delay, insurance, warranty, etc FYI.

add another $300-350k for laneway house.
add another $100-250+/sqft for high end custom build.
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May 10, 2008
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LordOfTheManor wrote: So I know a guy bought a place in Shaughnessy in the 1990s for just under $1m. Assessment is just under $7m. How accurate would assessment be? Place has not been changed, it’s an OG 1920s approx 4000sqft
Usually pretty accurate, but after the price has surpassed the point of affordable (like the case of your friend’s $7M house), it gets less accurate. Nevertheless, market prices still tend to be a little over assessment right now. But if his house is designated heritage or other strange things going on, then market price could be anywhere.
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May 10, 2008
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zakarydoks wrote: Hmmm..I think you will like Grandview Woodland. Better bang for your buck but still in Vancouver proper.
How do you know he’s not the Fraserhood type? 🤣
Deal Expert
Jan 27, 2006
21844 posts
15620 upvotes
Vancouver, BC
zakarydoks wrote: What's your point? Immigrant money plays a much larger role than dirty money. You can't even keep simple facts straight. Dirty money has a small impact on real estate but you and other housecels want to exaggerate that angle for some inexplicable reason. No one else is going there anymore, not even David Eby.
Actually, you are the one that can't keep your facts straight, ignoring the facts as presented, presenting a good counterargument and resorting to name calling. Eby not going there because his government needs the money gained from the property transfer taxes. They also don't want to remind everyone that they made promises to fix the problem and to bring back affordability....
Deal Expert
Jan 27, 2006
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zakarydoks wrote: Nope, somethings can't be treated. The violent psychos have zero impulse control and that can never be treated. Put them under supervised care until they are 65. Their capacity to do damage will be greatly reduced.
Good to see that along with your expertise in money laundering, mind reading, and having enough time to visit every open house in Vancouver and Burnaby, you also have time to become an expert in addictions and recovery. Once again, your family must be so proud.

Why 65? 65 is not some magical age where people become less violent and suddenly have more impulse control. There has been plenty of documented cases of violence in senior homes caused by residents well into the 80's.
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Jan 14, 2009
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Vancouver, BC
craftsman wrote: Actually, you are the one that can't keep your facts straight, ignoring the facts as presented, presenting a good counterargument and resorting to name calling. Eby not going there because his government needs the money gained from the property transfer taxes. They also don't want to remind everyone that they made promises to fix the problem and to bring back affordability....
You still think money laundering has a large impact on housing prices without any supporting evidence. All your arguments are not based in reality.
Money laundering is not the cause of housing unaffordability

The public discussion about, and interest in, money laundering has been fuelled, in part, by rising real estate prices and the belief, by some, that high prices are the result of money laundering in BC real estate. Public attention has also been captured by the issue of foreign ownership in the BC real estate market. While the impact of money laundering and anti–money laundering measures on real estate prices is something that would beneft from further study, I am unable to conclude that money laundering is a signifcant cause of housing unafordability in the residential real estate market.

I wish to be clear that I do not urge the provincial government to take up the recommendations contained in this Report on the basis that they will resolve British Columbia’s housing afordability challenges. There are strong reasons to think that fundamental factors such as supply and demand, population increase, and interest rates are far more important drivers of price. Money laundering should be addressed, to be sure, but steps taken to counteract money laundering should not be viewed as a solution for housing unafordability.
The conclusion is clear and straightforward for a sane person. But you squint really hard and use your imagination to you read between the lines for the outcome you want. Why are you so crazy obsessed with this? It won't help make homes more affordable.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
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Jan 14, 2009
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craftsman wrote: Good to see that along with your expertise in money laundering, mind reading, and having enough time to visit every open house in Vancouver and Burnaby, you also have time to become an expert in addictions and recovery. Once again, your family must be so proud.

Why 65? 65 is not some magical age where people become less violent and suddenly have more impulse control. There has been plenty of documented cases of violence in senior homes caused by residents well into the 80's.
But you're an expert on real estate and drug addicts? How do you know all violent drug addicts can be treated? It's like saying you can treat low impulse control, bad temper, and anti social behaviour. That's just outrageous and sounds like SJW BS. Go figure out how to cure addictions and you'll win a Nobel prize.

A 65 year old drug addict can't do much without falling over. I'm ok with upping the age to 70 or whatever.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
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Jan 14, 2009
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Angel Girl wrote: How do you know he’s not the Fraserhood type? 🤣
I don't think like vegans and hippies lol.

You can still buy a "manor" for under $5M around Renfrew or Rupert lol.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Member
Jan 25, 2021
438 posts
471 upvotes
https://vancouversun.com/news/local-new ... cipalities

Pretty ho hum article, with this little gem buried at the end:

"Rennie said the federal and provincial government should provide subsidies to municipalities for every rental or social housing unit approved within 18 months. He said the foreign owners tax amounted to racism, and that it would be more effective if it applied only to homes valued at $1.5 million or less."
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Looksmooth wrote: https://vancouversun.com/news/local-new ... cipalities

Pretty ho hum article, with this little gem buried at the end:

"Rennie said the federal and provincial government should provide subsidies to municipalities for every rental or social housing unit approved within 18 months. He said the foreign owners tax amounted to racism, and that it would be more effective if it applied only to homes valued at $1.5 million or less."
Yeah yeah, everything is racist lol. Stupid SJWs.


ahahahahhaha
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
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Jan 14, 2009
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2703 TRIUMPH STREET sold for $2,320,000. PNE, standard lot, 2300 sqft, renovated interior.

I think that's a record setting price for this type of house.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
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Jan 25, 2021
438 posts
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zakarydoks wrote: 2703 TRIUMPH STREET sold for $2,320,000. PNE, standard lot, 2300 sqft, renovated interior.

I think that's a record setting price for this type of house.
That's a nice reno on the inside, but a horrible attempt at freshening up the exterior. The black trim theme works on the interior but looks terrible in the exterior.

How the hell did anyone possible think painting the front stairs all black would look good? Lol at that half assed outdoor patio area too which is directly visible from cars passing by on the street.
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May 10, 2008
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zakarydoks wrote: 2703 TRIUMPH STREET sold for $2,320,000. PNE, standard lot, 2300 sqft, renovated interior.

I think that's a record setting price for this type of house.
I wish the buyers of houses we comment on would come to RFD to let us know why they made their purchase. The 3-level style Van Special has always been unpopular but it seems to be making a comeback lately.
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Jan 14, 2009
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Angel Girl wrote: I wish the buyers of houses we comment on would come to RFD to let us know why they made their purchase. The 3-level style Van Special has always been unpopular but it seems to be making a comeback lately.
You get more floor space for for 3-level houses and that is the most important thing right now. Also living space and bedrooms are on separate floors.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
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Jan 14, 2009
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Looksmooth wrote: This honestly really triggers me. Makes me wish I bought in Burnaby instead
I try not to expose myself to this kind of lunacy. It's destroying my mental health and wellbeing.

I think the left is rubbing it in our faces now as an insult. It seems like they are out for revenge but I don't know for what Thinking Face.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.

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