Real Estate

Vancouver housing bubble?

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  • Jun 1st, 2020 1:32 pm
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Deal Guru
Feb 29, 2008
11000 posts
6178 upvotes
craftsman wrote: The difference is no-one expects to resell clothes, shoes, cars, phones... for more than they paid for it in the first place especially after they have used it for a few years.

And don't use you guys to paint everyone that doesn't share your view of how the world works (or should work) with the same brush.
Oh really? There's a strong secondary market when it comes to clothing, shoes, art. There are bubbles just like with homes because there is market manipulation.

As for the last line. Maybe you should do the same.
Deal Guru
Feb 24, 2018
13861 posts
14344 upvotes
Are we still buying into Vancouver real estate in 2019?

What's the pulse in this thread?
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Deal Addict
Apr 10, 2011
1591 posts
1001 upvotes
GVRD
The value of this thread is the ongoing links to external content, such as...

- industry results
- political events impacting the market
- economic news related to housing
- etc.

The actual number of users that post is a very tiny base, and several of those users have an extreme bias. You can search their posting histories within this thread.

Some are realtors, multi property investors, new development marketers, single owners and even renters.

If you're wondering if buyers are buying, or sellers are selling, I'd read those links to external sources as there are very few active buyers and sellers here.

My best source for market sentiment is having several contacts who are active agents that give me real-time realty in private conversations, rather than marketing fluff.
Jr. Member
Dec 5, 2009
117 posts
38 upvotes
redflagdealsguy wrote: Are we still buying into Vancouver real estate in 2019?

What's the pulse in this thread?
Depends on the reason why someone wants to enter the real estate market...
Deal Guru
Feb 24, 2018
13861 posts
14344 upvotes
Alpine84 wrote: Depends on the reason why someone wants to enter the real estate market...
Capital gains... and down the list... rental income.
>> Govt. Relief for Businesses: 75% Wage Subsidy <<

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Whatever your personal opinion, please respect hygiene and PPE guidelines and mandates laid down by (1) government, (2) private establishments.
Deal Guru
Feb 24, 2018
13861 posts
14344 upvotes
RxMills wrote: The value of this thread is the ongoing links to external content, such as...

- industry results
- political events impacting the market
- economic news related to housing
- etc.

The actual number of users that post is a very tiny base, and several of those users have an extreme bias. You can search their posting histories within this thread.

Some are realtors, multi property investors, new development marketers, single owners and even renters.

If you're wondering if buyers are buying, or sellers are selling, I'd read those links to external sources as there are very few active buyers and sellers here.

My best source for market sentiment is having several contacts who are active agents that give me real-time realty in private conversations, rather than marketing fluff.
Quick and to the point.

Thank you.
>> Govt. Relief for Businesses: 75% Wage Subsidy <<

COVID-19 Etiquette
Whatever your personal opinion, please respect hygiene and PPE guidelines and mandates laid down by (1) government, (2) private establishments.
Deal Guru
Jan 27, 2006
13243 posts
6252 upvotes
Vancouver, BC
JayLove06 wrote: Oh really? There's a strong secondary market when it comes to clothing, shoes, art. There are bubbles just like with homes because there is market manipulation.

As for the last line. Maybe you should do the same.
Those are typically for collector items... however, if you want to buy a pair of old used running shoes for more than what they cost new a few years ago, I'm sure I can find a few pieces to sell you at a good price. After all, they ain't making these shoes anymore and with more people moving into the region, more and more people will be wanting to buy them so you better get it in before the price goes up as you won't ever see these prices again.
Jr. Member
User avatar
Oct 27, 2008
152 posts
104 upvotes
Coquitlam
redflagdealsguy wrote: Are we still buying into Vancouver real estate in 2019?

What's the pulse in this thread?
I've gone by with what I have been observing with my own eyes.

I've been casually looking at housing on REW and the number of active listings in my area have almost tripled compared to last year. I imagine it is a combination of increased number of people selling and less buyers.
When I pass by open houses, I've noticed that the surrounding parking areas are definitely less busy/empty whereas before it was packed.
Deal Addict
Apr 10, 2011
1591 posts
1001 upvotes
GVRD
HockeyFanatic wrote: I've gone by with what I have been observing with my own eyes.

I've been casually looking at housing on REW and the number of active listings in my area have almost tripled compared to last year. I imagine it is a combination of increased number of people selling and less buyers.
When I pass by open houses, I've noticed that the surrounding parking areas are definitely less busy/empty whereas before it was packed.
We're a week away from July. Spring is over. Suddenly, a nearby block went from 1 listing to 4. There's going to be more price movement with all this increasing and late inventory. Supply and demand.

I know 3 sellers who have been trying to sell but pulled their listings awaiting some big movement up again, to get those 2016/17 prices. The successful sellers told their agents to be flexible.

There are more sellers than MLS is showing. Dropping in to speak with agents local to that neighbourhood will present more options.

Lastly, there's a lot of buyer's remorse out there. If you see a SOLD sign and love the listing, inquire anyway. I'd say 1:3 to 1:4 chance of getting it. Don't offer much more than that recent winning offer price. It's the buyer that wants out and the seller is in late season selling now.
Jr. Member
User avatar
Oct 27, 2008
152 posts
104 upvotes
Coquitlam
RxMills wrote:
Lastly, there's a lot of buyer's remorse out there.
I have gotten this feeling as well. Many listings I am seeing which were recently bought (1-2 years) have their price set to price paid (slightly above which covers commission).
Deal Guru
Feb 29, 2008
11000 posts
6178 upvotes
people flipping or buying homes like a pair of shoes are going to get burned and I frankly don’t care. Only a tiny minority are moving because their situation changed that wasn’t foreseeable.

If you bought in the last year or 2 you better be prepared to hold for a good 5-10 years
Deal Fanatic
Oct 7, 2007
6686 posts
2983 upvotes
BlueSolstice wrote: For what it's worth, BCNDP is not leaving office anytime soon, if latest polls are to be believed:

https://www.vancouverisawesome.com/2019 ... rals-slip/

The best hope for a RE rebound is for Horgan to stab Eby in the back so he get start getting paid by Rennie.
I don't think people voted for NDP in the last election because they like NDP. Instead, they really, really didn't like the Liberals because they felt like there was a lot of corruption. Not sure if people will ever trust the Liberals again. If you ask me, it might be time to either houseclean the Liberal party, or start a brand new common-sense party with a strong ethical platform that is not bought and paid for by special interest groups.
Deal Addict
Dec 4, 2016
1799 posts
832 upvotes
choclover wrote: I don't think people voted for NDP in the last election because they like NDP. Instead, they really, really didn't like the Liberals because they felt like there was a lot of corruption. Not sure if people will ever trust the Liberals again. If you ask me, it might be time to either houseclean the Liberal party, or start a brand new common-sense party with a strong ethical platform that is not bought and paid for by special interest groups.
Problem is, everyone wants to vote for such party, no one wants to run for such party, especially for positions other than party leader.

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