|
The buy in advance condo model is really hilarious, I don't see how people think it's a good deal. Yup let me pay money for something in the future that may not be correctly built per code and also might be worth much less money than the initial value.
|
#
?
Sep 11, 2014 03:06
|
|
|
|
| # ? Jun 6, 2024 07:59 |
|
|
etalian posted:The buy in advance condo model is really hilarious, I don't see how people think it's a good deal. This is the real tragedy of the housing bubble. Canadians revealing themselves to be dumb as gently caress at the cost of over a trillion dollars in mortgage debt.
|
|
#
?
Sep 11, 2014 03:07
|
|
|
I once had a coworker who was convinced that the developer building a brand new identical tower next to his was somehow going to drive the price of his condo up. Haven't kept in touch, but going by Facebook I think he spent a year trying to sell the drat thing.
|
|
#
?
Sep 11, 2014 04:03
|
|
|
FrozenVent posted:I once had a coworker who was convinced that the developer building a brand new identical tower next to his was somehow going to drive the price of his condo up. Oh, that's just amazing.  , I weep for thee.
|
|
#
?
Sep 11, 2014 05:44
|
|
|
I don't think http://vancouverpricedrop.wordpress.com/ has been posted yet in the thread, but even if it has it's good to revisit. It hasn`t been updated in a couple months but even as of July there were some houses that have had their prices reduced by  7-figure sums . e. but we`re different 
|
|
#
?
Sep 11, 2014 06:12
|
|
|
FrozenVent posted:-the pre-build condos you bought actually get built I like to collect cologne. Sometimes a few people who also collect cologne will go in on a split for large bottles of expensive cologne- about 5-8 slots will be open and one-by-one interested people will give their money to the guy that is going to buy and do all the separating. Sometimes it will take months to fill the slots up and for the bottle to be ordered. Is this what pre-build condos are like?
|
|
#
?
Sep 11, 2014 10:14
|
|
|
Professor Shark posted:I like to collect cologne. Sometimes a few people who also collect cologne will go in on a split for large bottles of expensive cologne- about 5-8 slots will be open and one-by-one interested people will give their money to the guy that is going to buy and do all the separating. No, it's more the opposite problem: given the increasing prices and limited of condos, people rush in with a hefty deposit to lock in the price. It remains a good deal as long as prices maintain a steady climb, but people are understandably unhappy if prices drop heavily while the building is still under construction. Housing speculators love to make a profit on a house before moving in, but the flip side is that families buying a house can lose big money before they even move into their condo. And if the price falls too much, financing on the entire project can fall through and ruin everyone.
|
|
#
?
Sep 11, 2014 10:21
|
|
|
on the left posted:No, it's more the opposite problem: given the increasing prices and limited of condos, people rush in with a hefty deposit to lock in the price. It remains a good deal as long as prices maintain a steady climb, but people are understandably unhappy if prices drop heavily while the building is still under construction. Housing speculators love to make a profit on a house before moving in, but the flip side is that families buying a house can lose big money before they even move into their condo. And if the price falls too much, financing on the entire project can fall through and ruin everyone. Or the developer can run away with everyone's deposit and the condo never gets built.
|
|
#
?
Sep 11, 2014 11:41
|
|
|
Only a really amateur conman would run away after collecting deposits. There's way more money to be made in throwing together a piece of poo poo for a high profit margin, and then figuring out a way to steal a big pot of money meant for eventual repairs.
|
|
#
?
Sep 11, 2014 12:24
|
|
|
eXXon posted:I'm not sure how CI missed this from Rabidoux tweets, but since that awful Waterloo one wasn't enough, here's Toronto's latest glitzy whiteboard infographicmercial (do these things have a name yet?): It still blows my mind that these things are happening in Canada. I remember seeing very similar ads here in the US about a decade ago. I tried to find them on YouTube but I think they all successfully made it down the memory hole. Did they all live under a rock from 2002-2008?
|
|
#
?
Sep 11, 2014 12:56
|
|
|
I actually can't even imagine what this country is going to look like once the middle class gets squeezed enough that they default en masse. If we have white middle class Canadians living in tents, like what happened to some in the States, it will not only crater our economy, it will shatter our smug national psyche. I hope it's the catalyst to begin our transformation to honest-to-God Nordic socialist petrostate though. The petrostate is lovely, but c'mon, not even a smoking hole of an economy is going to convince anyone to leave that poo poo in the ground. I'll take a few good decades of socialism before we inevitably wipe ourselves from the face of the Earth.
|
|
#
?
Sep 11, 2014 14:16
|
|
|
peter banana posted:I actually can't even imagine what this country is going to look like once the middle class gets squeezed enough that they default en masse. If we have white middle class Canadians living in tents, like what happened to some in the States, it will not only crater our economy, it will shatter our smug national psyche. To truly succeed in becoming a Nordic Socialist Petrostate precludes that Canadians are nice, decent people. We'd have to exterminate everyone in Vancouver.
|
|
#
?
Sep 11, 2014 14:39
|
|
|
http://ca.reuters.com/article/businessNews/idCAKBN0H60A820140911?pageNumber=1&virtualBrandChannel=0quote:Vancouver prime property market sizzles, fueled by China cash
|
|
#
?
Sep 11, 2014 14:43
|
|
|
Cultural Imperial posted:To truly succeed in becoming a Nordic Socialist Petrostate precludes that Canadians are nice, decent people. We'd have to exterminate everyone in Vancouver. Harsh but fair. Maybe after the pop, the old socialist part of Vancouver will return from its self imposed exile on Hornby Island.
|
|
#
?
Sep 11, 2014 14:53
|
|
|
I didn't want to have Cultural Imperial's gleeful schadenfreude, but then I thought about all the racist white people I know living in Attawapiskat-esque condtions.
|
|
#
?
Sep 11, 2014 14:57
|
|
|
hahahahah http://www.vancitybuzz.com/2014/09/new-rent-program-will-put-vancouverites-condos/?utm_source=digg quote:Forking over all that money to your landlord once a month can make the dream of home ownership seem more elusive payment by payment. A new rent-to-own program that’s launching in Vancouver aims to help tenants get a toe in their own door, and help them stash away the cash needed to purchase a home. Also who the gently caress is paying 500k for an apt in New West?
|
|
#
?
Sep 11, 2014 15:27
|
|
|
Cultural Imperial posted:hahahahah People that think renting to own anything is a good deal.
|
|
#
?
Sep 11, 2014 15:38
|
|
|
That youtube video is a parody, right? If there's no down payment, I'm making infinity% profit! I'll just put myself on the hook for 1.5 million dollars. It's cool.
|
|
#
?
Sep 11, 2014 18:15
|
|
|
Dr. Stab posted:That youtube video is a parody, right? If there's no down payment, I'm making infinity% profit! I'll just put myself on the hook for 1.5 million dollars. It's cool. There is no way it is intended as parody, it is just too earnest in it's helpfulness.
|
|
#
?
Sep 11, 2014 19:16
|
|
|
Blackula69 posted:Fair enough, but doesn't Vancouver have somewhat limited space? This neighbourhood isn't very good (although it's more and more yuppie every year) and it's not like people have to live here, there are a ton of other options all across the city. Due to the DnD shift a bunch of military families are shifting from Orleans to the west end and given that the government pretty much provides the bank a guarantee that one transfer they will get the full purchase price back they will loan military people a huge amount of money. Of course this has also sunk prices in Orleans. I"m guessing they are really planing on infilling it with something like this http://www.realtor.ca/propertyDetails.aspx?PropertyId=14811642 and overpaid.
|
|
#
?
Sep 11, 2014 20:16
|
|
|
ocrumsprug posted:Harsh but fair. Frankly after going to Hornby all the people there were impolite and aggressive as poo poo - worse than Vancouver.
|
|
#
?
Sep 11, 2014 21:10
|
|
|
JawKnee posted:Frankly after going to Hornby all the people there were impolite and aggressive as poo poo - worse than Vancouver. cowofwar fucked around with this message at 21:26 on Sep 11, 2014 |
|
#
?
Sep 11, 2014 21:24
|
|
|
cowofwar posted:Being an islander makes people naturally aggressive to outsiders. Rich people from vancouver buy up properties on the islands and barely live in them yet insert themselves in to local politics and try to change policy to favor their interests (property values and such), which generally run counter to the interests of the year round islands who actually form the community. As a result you get a lot of resentment. Also tourists generally aren't at all respectful of the fact that the locals, despite living in a tourist town, may pre-date that era and just want to live in peace and quiet on a beautiful island and not put up with a constant stream of idiot rich kids getting drunk and loving up their house/property/town/waterfront/islets/wildlife/lives. Honestly the worst treatment we got was from our campsite warden who only seemed luke-warm to the 3 (3!) of us being there at all, despite there being 2 larger groups of 20-somethings on either side of our eventual campsite; that and the store/business owners around the island were super unfriendly. Locals were okay but, again, seemed unwilling to countenance a 'hello' And this is contrary to other islands I've been to - Saltspring, Galiano, Pender - all had great people who were super friendly and made the area more attractive and enjoyable; I understand these are people's homes but so is Vancouver, you don't get to say 'oh people in the city are so impolite' despite it being their home and then use that as an excuse for the islands.
|
|
#
?
Sep 11, 2014 21:42
|
|
|
I think it could be the difference between people who moved to an island to lead a simple life away from civilization and society, and then suddenly tourists and rich people vs people who move to a pretty and popular island knowing it's pretty and popular. It's really just change people hate, and you'll see that xenophobic NIMBY spirit from people threatened with change in an island commune or downtown.
|
|
#
?
Sep 11, 2014 21:48
|
|
|
When I'm on the islands there are generally two groups of locals: the younger seasonal workers who are friendly and then older year-round locals who are a bit surly. The latter group lead a pretty hard life, running a business on the islands is very challenging.
|
|
#
?
Sep 11, 2014 22:41
|
|
|
Fascinatingly, bar none the friendliest place I've been this year was Lytton. Which is one of BC's largest and poorest reserves / villages. And I was carrying a big ol' backpack and probably smelled like week-old death, and hadn't talked to a living human being in 7 days. Shockingly friendly people all 'round, considering. 
|
|
#
?
Sep 11, 2014 22:45
|
|
|
Rime posted:Fascinatingly, bar none the friendliest place I've been this year was Lytton. Which is one of BC's largest and poorest reserves / villages. And I was carrying a big ol' backpack and probably smelled like week-old death, and hadn't talked to a living human being in 7 days. Shockingly friendly people all 'round, considering. The interior used to be really friendly. Especially the Kootenays. I really think there's some correlation between level of rear end in a top hat and median house price.
|
|
#
?
Sep 11, 2014 23:16
|
|
|
Cultural Imperial posted:The interior used to be really friendly. Especially the Kootenays. I've noticed a real uptick in the general arrogance of Canadians over the past decade. It might be the FYGM that comes with Conservative domination of politics, but I don't think property prices are an unrelated factor – especially when the American comparison is invoked.
|
|
#
?
Sep 12, 2014 00:26
|
|
|
Cultural Imperial posted:To truly succeed in becoming a Nordic Socialist Petrostate precludes that Canadians are nice, decent people. We'd have to exterminate everyone in Vancouver. Also a good amount of the Nordic style socialism/jante law is driven by looking down on people who try to set themselves apart or worse see themselves as being better than others.
|
|
#
?
Sep 12, 2014 02:10
|
|
|
https://twitter.com/jason_kirby/status/510427524242083841 lol
|
|
#
?
Sep 12, 2014 15:17
|
|
|
Lexicon posted:I've noticed a real uptick in the general arrogance of Canadians over the past decade.
|
|
#
?
Sep 12, 2014 15:30
|
|
|
Sometimes I wonder if the success of the conservatives is due to Canadian society becoming more greedy, selfish, and arrogant, or if 3 terms of the conservative control of government along with their cuts and policies have let them sway canadian "culture" in that direction, or some sort of combination of both.
|
|
#
?
Sep 12, 2014 15:42
|
|
|
Baronjutter posted:Sometimes I wonder if the success of the conservatives is due to Canadian society becoming more greedy, selfish, and arrogant, or if 3 terms of the conservative control of government along with their cuts and policies have let them sway canadian "culture" in that direction, or some sort of combination of both. It's hard to say which way the causality goes. It could easily be either. Either way, the "American arrogance but everything is twice as expensive" model of Canada is really not doing it for me.
|
|
#
?
Sep 12, 2014 15:50
|
|
|
Baronjutter posted:Sometimes I wonder if the success of the conservatives is due to Canadian society becoming more greedy, selfish, and arrogant, or if 3 terms of the conservative control of government along with their cuts and policies have let them sway canadian "culture" in that direction, or some sort of combination of both. It's a dialectical relationship.
|
|
#
?
Sep 12, 2014 16:24
|
|
|
Rutibex posted:It's a dialectical relationship. A positive feedback loop, with house prices included, spiralling out of control until the whole system crashes and burns. A glorious socialist utopia shall rise from the ashes.
|
|
#
?
Sep 12, 2014 18:12
|
|
|
Lead out in cuffs posted:A positive feedback loop, with house prices included, spiralling out of control until the whole system crashes and burns. A glorious socialist utopia shall rise from the ashes. I'm okay with this as long as the TFSA contribution room increases to 10k.
|
|
#
?
Sep 12, 2014 20:40
|
|
|
The housing market is confusing. The Fincial Post these two headlines running: Canada housing market shows no sign of slowing as prices rise for 9th month (Sept 12) Canada housing starts cool in August, seen slowing further (Sept 9)
|
|
#
?
Sep 12, 2014 20:47
|
|
|
triplexpac posted:The housing market is confusing. The Fincial Post these two headlines running: Starts are new home construction permits.
|
|
#
?
Sep 12, 2014 20:51
|
|
|
melon cat posted:I've noticed this, too. If you ask me, it's because the Canadian economy didn't tank while the U.S.'s did back in 2007. So Canadians developed this un-deserved smugness, which has nearly turned into a mindset of "We're Canada! We can't gently caress up!" This attitude isn't surprising because a lot of people's sense of "Canadianness" comes from how un-American they think they are. All the "Canada's robust banking system" headlines that came out during 08/09 certainly helped in reinforcing the new-found Canadian smugness. To this day you're still getting the "We're not the US guy, we don't have sub-prime  " reasoning. I still haven't gotten an acceptable response (imo) to my next question: "What about Spain? Ireland? France? Italy? UK?... They didn't have sub-prime, are you like any of those?"
Mexplosivo fucked around with this message at 20:58 on Sep 12, 2014 |
|
#
?
Sep 12, 2014 20:54
|
|
|
|
| # ? Jun 6, 2024 07:59 |
|
|
Mexplosivo posted:All the "Canada's robust banking system" headlines that came out during 08/09 certainly helped in reinforcing the new-found Canadian smugness. To this day you're still getting the "We're not the US guy, we don't have sub-prime And you know what the common lowest denominator for all those countries and canada is? Easy to obtain, cheap borrowing rates.
|
|
#
?
Sep 12, 2014 20:57
|
|