Real Estate

Vancouver housing bubble?

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  • Mar 26th, 2024 5:10 pm
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Deal Expert
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Jul 29, 2003
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YVR
Piklishi wrote: https://housesigma.com/app/en/listing/X ... 8-R2668500

Selling price for more than bought 3 months ago. Investor loss I guess.
That doesn't appear to be a current listing.

04/29/2022 R2668831 Sold $1,750,000 eXp Realty (Branch)
04/28/2022 R2668831 Price Updated $1,775,000 eXp Realty (Branch)
03/22/2022 R2668831 Active $1,819,000 eXp Realty (Branch
R.I.P. Rick Rypien #37

For Sale:
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Deal Fanatic
Jun 29, 2007
6041 posts
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Vancouver
Alpine84 wrote:

I already feel brainwashed after watching this lol.
Rule of law is strong. LOL.
IMO will continue to go downhill under the communist govt.

I hear real estate market in China may be in trouble.
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Dec 5, 2009
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"Now, the 2022 Hurun Report , which surveys the desires of high-net-worth Chinese, has found their No. 1 choice for a country to move to is Canada."

My RE investor friends have a saying: They will continue to buy RE here as long as China continues to buy lol. And to no-one's surprise, they are still buying.
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Jan 14, 2009
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Speedy1 wrote: Douglas Todd: Why China's woes matter to Canada

https://www.msn.com/en-ca/news/canada/d ... 486a7cda64
In the past 30 years, Canada has been one of the top destinations for people from China seeking a financial haven and more stable lifestyle. China has long been Canada’s second-largest source country, after India, for new immigrants.

In addition, people from China who obtain foreign residency or citizenship can move money out of their country more easily. Immigration lawyers and consultants say that’s a prime reason for the attractiveness of Canada, which already has 1.8 million people of Chinese ancestry, about half of whom are from China, mostly living in greater Toronto and Metro Vancouver.

Ottawa has long generally welcomed outside money , which typically goes into real estate rather than other businesses. B.C., through its foreign-buyers tax, beneficial ownership registry and speculation tax, is now one of the only provinces trying to monitor such offshore wealth.

Last year, Canada approved 31,005 individuals from the People’s Republic of China as permanent residents. While by no means are all well-off enough to immediately buy a dwelling, that was a jump from 16,525 migrants in the pandemic year of 2020. It was similar to 2019. The pace of immigration from China in the first half of 2022 appears more rapid than ever.
We want immigrants' money right?
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: Let’s make bets on what it eventually sells for. If I’m not mistaken, there’s a tree or pole right in front of the house. And did the other half already sell? I don’t think I noticed the listing.

My guess: $1.32M
You win!

128 E 45TH AVENUE
Vancouver BC
(Main) V5W 1W9
Reported SOLD
Jul 29, 2022
$1,325,000
MLS® R2706596
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Deal Addict
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May 10, 2008
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zakarydoks wrote: You win!

128 E 45TH AVENUE
Vancouver BC
(Main) V5W 1W9
Reported SOLD
Jul 29, 2022
$1,325,000
MLS® R2706596
Woah, I’m surprised! Astonished Face
Deal Addict
Dec 5, 2009
2789 posts
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Wait, so they bought for 975k in 2018 and built a new 1800 sqft slumlord special house in 2019? There's no way they accept 1.4. According to the pricing history, they want 1.8m+ (break even is probably like 1.6-1.7) or they'll take it off the market. Selling it for 1.4m would be a huge loss.
Deal Expert
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Jul 29, 2003
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Alpine84 wrote: Wait, so they bought for 975k in 2018 and built a new 1800 sqft slumlord special house in 2019? There's no way they accept 1.4. According to the pricing history, they want 1.8m+ (break even is probably like 1.6-1.7) or they'll take it off the market. Selling it for 1.4m would be a huge loss.
Quite possible if they can't deal with the mortgage.
R.I.P. Rick Rypien #37

For Sale:
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July average selling price: $2,037,550

Average selling price and benchmark price down MoM again!
There were 3,960 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2022. This represents a 9.5 per cent decrease compared to the 4,377 homes listed in July 2021 and a 24.7 per cent decrease compared to June 2022 when 5,256 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,288, a 4.4 per cent increase compared to July 2021 (9,850) and a 1.3 per cent decrease compared to June 2022 (10,425).
https://www.rebgv.org/market-watch/mont ... -2022.html
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Deal Fanatic
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Jan 14, 2009
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adamtheman wrote: Updated main post. Could average price drop below $2 million next month? And look at condo prices, almost back to 2018 levels?

Image
2022 condos prices are probably lower than 2018 if we adjust for 5 years of inflation.
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
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Angel Girl wrote: I’m waiting for the Fraserhood fans to jump in and praise this listing Grinning Face With Smiling Eyes
https://www.zealty.ca/mls-R2714266/607- ... couver-BC/
Price DROP!
______________________________________________
2022-Aug-03 Listed $2,488,000 R2714266
Macdonald Realty Westmar

2022-Jul-25 Listed $2,800,000 R2711966
Macdonald Realty Westmar
______________________________________________
If you buy vgro for a thousand years Vancouver homes will still be out of reach.
Deal Addict
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May 10, 2008
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zakarydoks wrote: https://www.zealty.ca/mls-R2705941/3658 ... couver-BC/

10K sqft lot, 6K sqft house, TWO double garages for $3M?

Not WEST SIDE but you can still brag about it right? "My lot is 10K sqft, yours?" hahahahah
I remember showing my mom this behemoth when it first got listed. She couldn’t think of what to do with such a big house. I think it’s great value for sure, wow!
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Jan 14, 2009
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Angel Girl wrote: I remember showing my mom this behemoth when it first got listed. She couldn’t think of what to do with such a big house. I think it’s great value for sure, wow!
Bragging rights?!?!? My House is bIgGER than yOUr l0t!!!
Image

jk
If you buy vgro for a thousand years Vancouver homes will still be out of reach.

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