Real Estate

Vancouver housing bubble?

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  • Sep 17th, 2019 3:15 am
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Deal Fanatic
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Oct 23, 2003
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MotoCross817 wrote:
Aug 16th, 2019 7:17 am
People tend to look back at periods where housing markets drop and wish they could have purchased then. Is that time now for Vancouver? Ie: are there reasons to think the market will go back up relatively soon? If so, why?
Between the unrest in Hong Kong, no matter which way it goes, it wont be well...and then Germany's economy posting negative GDP, Brexit happening finally in October...supposedly...the trade war between US and China only getting bigger, and the economic indicators flashing "hard recession incoming" just like they did in 2007...

I cant read the future, but I'll put $5 on "things arent going to be going well for the short term"
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Aug 13, 2019
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MotoCross817 wrote:
Aug 16th, 2019 8:56 am
@Buggy166 is now a bad time to buy?
depends why you're buying (personal or investment), what your finances look like and what you can afford, what your goals are, stage of life & family...
if above avg property comes up at price you can afford, consider buying
futile exercise to try to time the exact bottom of a re cycle, same applies to stocks
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Oct 23, 2003
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MotoCross817 wrote:
Aug 16th, 2019 8:56 am
@Buggy166 is now a bad time to buy?
im looking to buy for me to live in, so, in that regard, any time is good to buy. I just havent decided between Toronto, Vancouver or Montreal. I'm in Montreal right now doing a 1 year run to see how things are here. If im okay with winter time, I'll buy in spring/summer next year. So far, summer time, its been better than both Vancouver and Toronto for my European tastes. (but everyone's different, so ymmv)

If it was for investment...I'd say not in Vancouver or Toronto only because the waters are too murky and those markets boomed already. Montreal i dont know anything about. New playground for me.
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Oct 7, 2007
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Buggy166 wrote:
Aug 16th, 2019 9:55 am
im looking to buy for me to live in, so, in that regard, any time is good to buy. I just havent decided between Toronto, Vancouver or Montreal. I'm in Montreal right now doing a 1 year run to see how things are here. If im okay with winter time, I'll buy in spring/summer next year. So far, summer time, its been better than both Vancouver and Toronto for my European tastes. (but everyone's different, so ymmv)

If it was for investment...I'd say not in Vancouver or Toronto only because the waters are too murky and those markets boomed already. Montreal i dont know anything about. New playground for me.
I wouldn't recommend buying to live in Vancouver unless you have tried living here for a while first. Everything is really expensive and the government is literally taxing us to death. Municipal and provincial governments are absolutely merciless on the people as they try to make things "fair" by taxing the pions in a way that allows the public sector to continue to realize exorbitant pay increases. It really is not sustainable when the gross median HOUSEHOLD income is only $68k as per Statistics Canada.
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May 1, 2018
969 posts
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Vancouver
Buggy166 wrote:
Aug 16th, 2019 9:55 am
im looking to buy for me to live in, so, in that regard, any time is good to buy. I just havent decided between Toronto, Vancouver or Montreal. I'm in Montreal right now doing a 1 year run to see how things are here. If im okay with winter time, I'll buy in spring/summer next year. So far, summer time, its been better than both Vancouver and Toronto for my European tastes. (but everyone's different, so ymmv)

If it was for investment...I'd say not in Vancouver or Toronto only because the waters are too murky and those markets boomed already. Montreal i dont know anything about. New playground for me.
Local municipal government also cares more about bikers/cyclists than auto drivers! They'd rather build more bike lanes to make traffic congest even more rather than removing bike lanes that are only used for a good 4-5 months a year at peak times rather than fixing the transportation issues we have here.
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Aug 17, 2013
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Toronto
MotoCross817 wrote:
Aug 16th, 2019 8:56 am
@Buggy166 is now a bad time to buy?
Always a good time to buy. Don't listen to people here. Bears have been saying the same thing for last 20 years. I remember people here saying in 2012 that the market will crash. Then in 2017 everything basically double in the span.

With interest cuts, housing/condo's will just climb from here. It bottomed out for the last year. Paying $1,500 rent for a crap 1 bedroom (not even downtown vancouver).... I'd rather own a condo for $500,000 1 bedroom somewhere in burnaby.
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Alivenate wrote:
Aug 16th, 2019 11:54 am
Local municipal government also cares more about bikers/cyclists than auto drivers! They'd rather build more bike lanes to make traffic congest even more rather than removing bike lanes that are only used for a good 4-5 months a year at peak times rather than fixing the transportation issues we have here.
I've lived in Vancouver for 5 years. In Toronto for nearly 15.

I liked the west end in downtown, out of all the places. Olympic village was ok but very desolate and felt secluded. Outside of downtown-ish areas, its pure boonies in Vancouver, so its good for families with kids...which is funny because no one with children could afford those money laundered houses nowadays.

Vancouver was the first city I've seen more single people with dogs than families with kids. Very odd...but then again...most people who had jobs or have jobs there, left the city.
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Oct 7, 2007
4942 posts
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Alivenate wrote:
Aug 16th, 2019 11:54 am
Local municipal government also cares more about bikers/cyclists than auto drivers! They'd rather build more bike lanes to make traffic congest even more rather than removing bike lanes that are only used for a good 4-5 months a year at peak times rather than fixing the transportation issues we have here.
I can't tell you how many times I see bikers riding on the road when there are specifically built bike lanes right beside the same road with protective barriers and everything. A lot of taxpayer money has gone into building a whole separate bike lane system in Vancouver and I still see plenty of bikers driving wrecklessly on the car roadways, not wearing helmets, driving on the sidewalk, driving on the wrong side of the street, etc. There is also extreme road rage with many of these bikers should a car driver have an encounter with one of them.
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Dec 30, 2012
874 posts
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Toronto
orianna wrote:
Aug 16th, 2019 1:39 pm
Always a good time to buy. Don't listen to people here. Bears have been saying the same thing for last 20 years. I remember people here saying in 2012 that the market will crash. Then in 2017 everything basically double in the span.
And what’s happened since 2017?
Sr. Member
Dec 30, 2012
874 posts
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Toronto
frozatio wrote:
Aug 15th, 2019 8:49 am
Burnaby prices haven’t dropped that much in. The past 16 months. Just got back my appraisal and it’s decreased only 2.35%...
Burnaby has far fewer money laundering speculators so it will take longer to decline. Take a look at Richmond detached. Bloodbath since the 2016 peak.
Sr. Member
Aug 3, 2006
600 posts
392 upvotes
orianna wrote:
Aug 16th, 2019 1:39 pm
Always a good time to buy. Don't listen to people here. Bears have been saying the same thing for last 20 years. I remember people here saying in 2012 that the market will crash. Then in 2017 everything basically double in the span.

With interest cuts, housing/condo's will just climb from here. It bottomed out for the last year. Paying $1,500 rent for a crap 1 bedroom (not even downtown vancouver).... I'd rather own a condo for $500,000 1 bedroom somewhere in burnaby.
Past performance is not indicative of future results. Literally the first thing they teach you about finance and investments.
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Aug 17, 2013
505 posts
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Toronto
datoprookie wrote:
Aug 17th, 2019 2:04 pm
Past performance is not indicative of future results. Literally the first thing they teach you about finance and investments.
What school did you go to? LOL dumb

Future results are based on historic numbers and trends. WHERE DO YOU THINK FIRMS GET THE 50% GROWTH? They use historic numbers to show growth.

There's a reason why all financials include comparative numbers for at least a few years.

People are predicting a recession based on historic trends.
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Dec 30, 2012
874 posts
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Toronto
orianna wrote:
Aug 17th, 2019 2:26 pm
What school did you go to? LOL dumb

Future results are based on historic numbers and trends. WHERE DO YOU THINK FIRMS GET THE 50% GROWTH? They use historic numbers to show growth.

There's a reason why all financials include comparative numbers for at least a few years.

People are predicting a recession based on historic trends.
You completely misunderstood his post.

Past performance is not indicative of future performance, and nothing you’ve just stated contradicts that.

A recession is a macroeconomic event, not an investment. Financial statements are documents, not investments.

Did you get your degree from a diploma mill?
Sr. Member
Aug 3, 2006
600 posts
392 upvotes
orianna wrote:
Aug 17th, 2019 2:26 pm
What school did you go to? LOL dumb

Future results are based on historic numbers and trends. WHERE DO YOU THINK FIRMS GET THE 50% GROWTH? They use historic numbers to show growth.

There's a reason why all financials include comparative numbers for at least a few years.

People are predicting a recession based on historic trends.
Ohh lord, I don't even know where to start with this post. This is literally the exact same thing you hear from "financial experts" from WFG, Primerica or one of the those multi-level marketing scams.

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