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Ikantski posted:We already start living inside other human beings. 
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Nov 25, 2014 06:25
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I call dibs on the vacuous corpse of pt6a. I'm willing to rent out his rear end in a top hat as a microsuite to a lucky goon because I'm so generous and I believe in social housing
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Nov 25, 2014 07:03
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Lead out in cuffs posted:I'll just put this here if you feel like trying to do something about that. Why are they not doing the same for highways and roads and car infrastructure? When do I get to vote on Langford not being allowed to build any more roads?
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Nov 25, 2014 07:09
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Baronjutter posted:Why are they not doing the same for highways and roads and car infrastructure? When do I get to vote on Langford not being allowed to build any more roads? Because: see my comment above about natural order of things, silly
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Nov 25, 2014 07:18
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Small Australian diversion: http://www.smh.com.au/comment/home-truths-high-prices-are-here-to-stay-20141125-11t753.html You see, it's different here! All you naysayers don't understand the uniquely Australian attitude to home ownership! Our houses are higher quality!
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Nov 25, 2014 22:27
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lol density http://www.straight.com/news/777026/future-may-be-density-metro-vancouver-housing-corporation stfu
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Nov 26, 2014 04:28
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my stepdads beer posted:Small Australian diversion: quote:Eslake's fourth point is that, thanks partly to the resources boom and two decades without a severe recession, Australians are richer than we were, even relative to other high-income countries. Guess what? Better-off people tend to devote a higher proportion of their income to their housing. It's hard to find the dumbest thing from the article.
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Nov 26, 2014 04:40
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tsa posted:It's hard to find the dumbest thing from the article. Yea basically a country with less GNP than Texas or California deserves ultra-expensive housing costs.
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Nov 26, 2014 05:13
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As stupid as that article is, it does strike me as plausible that there exist countries where the culture (I use term loosely), national consciousness, and realpolitik conspire to guarantee expensive housing now and in perpetuity. Australia and Canada may well be two such countries. I've made this somewhat silly point before - but Canada as a nation has arrived at the reality where cheese is an ultra-expensive product in comparison to other nations, and for no real good reason*. Yet this is the situation, everyone more or less accepts it, and it is unlikely to ever change. What if housing is the same? *Yes, yes - supply management. Housing has its own management of supply in the form of NIMBY zoning laws, etc
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Nov 26, 2014 05:29
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Lexicon posted:As stupid as that article is, it does strike me as plausible that there exist countries where the culture (I use term loosely), national consciousness, and realpolitik conspire to guarantee expensive housing now and in perpetuity. At some point, the housing market matures. Manhattan is a great example of this. While housing is expensive in Manhattan, it's inline with incomes and rental yields show that housing is appropriately priced. Housing can be expensive, but you won't have long term increases of prices into the millions while people only make 50k a year.
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Nov 26, 2014 05:47
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on the left posted:At some point, the housing market matures. Manhattan is a great example of this. While housing is expensive in Manhattan, it's inline with incomes and rental yields show that housing is appropriately priced. Yeah, indeed. I should've been clear on that. I don't expect unbridled price growth to continue forever – obviously it can't. But I can imagine a future where Canadian housing is always onerously expensive, even if the growth mediates to zero real increase.
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Nov 26, 2014 05:56
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Lexicon posted:Yeah, indeed. I should've been clear on that. I don't expect unbridled price growth to continue forever – obviously it can't. But I can imagine a future where Canadian housing is always onerously expensive, even if the growth mediates to zero real increase. No, because eventually the speculation fails and then basic supply / demand take over. The only reason prices become onerous in the first place is because of the arfificial demand created by people buying a place with the expectation of selling it shortly thereafter for a profit. This is why once things turn the other direction you see a huge crash instead of a gradual price reduction- once it becomes clear you can't do that the demand evaporates and prices fall in line with the incomes of the residents that live there. Like on the left said, prices that are permanently out of line with the communities average salaries isn't a thing. quote:What if housing is the same? For lots of obvious reasons, the housing market is nothing like the cheese market. tsa fucked around with this message at 06:15 on Nov 26, 2014 |
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Nov 26, 2014 06:13
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Cheese prices can only go up; they aren't making more cows!
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Nov 26, 2014 06:33
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Rutibex posted:Cheese prices can only go up; they aren't making more cows! That is pretty well how it works actually in this country 
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Nov 26, 2014 06:35
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Rutibex posted:Cheese prices can only go up; they aren't making more cows! Tulip prices can only go up, there's only one harvest a year!
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Nov 26, 2014 16:33
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quote:Why first-time home buyers are still taking the plunge: Mayers I have a hard time believing 40% of first-time home buyers are getting their downpayment only from their own savings, and that most of them are putting down 20%.
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Nov 26, 2014 16:51
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on the left posted:Housing can be expensive, but you won't have long term increases of prices into the millions while people only make 50k a year. Also, what would you define as a healthy rental yield and how does that compare to what you get in Toronto or Vancouver at the moment?
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Nov 26, 2014 16:55
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Antifreeze Head posted:If anyone is interested in just how hosed up the car business can be, have a listen to This American Life - 129 Cars Chiming in to say that I finally got around to listening to this, and it is fantastic. What an industry to be working in.
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Nov 26, 2014 17:38
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^^^ Isn't a health cap rate for rentals somewhere between 5-10%? Anecdotally, in Vancouver you might be lucky to have a 2% rate and are probably hemorrhaging money monthly. (Vancouver has a funny idea of what "building equity" actually means.)triplexpac posted:I have a hard time believing 40% of first-time home buyers are getting their downpayment only from their own savings, and that most of them are putting down 20%. There is zero chance that first time buyers are putting down 21% on average. I doubt it is even that high for the initial move on up crowd.
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Nov 26, 2014 17:47
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triplexpac posted:I have a hard time believing 40% of first-time home buyers are getting their downpayment only from their own savings, and that most of them are putting down 20%. Also- the fact that 27% of respondents got their downpayments from a bank loan astounds me.
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Nov 26, 2014 17:53
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cowofwar posted:My favorite part about BC is that when the sea to sky highway got too busy and dangerous due to people driving from vancouver to whistler, their solution was to drop billions on a better road rather than to improve the rail service. That line is perfect for rail since everyone starts and ends at the same place and just leaves their car unused for a week. In fact they cancelled the commuter rail service since they couldn't make it work due to issues with the railway not wanting to give track time to non freight. You can say a lot of things, but the Sea to Sky highway was a deathtrap 30 years ago and I'm sure it was even worse when they rebuilt it. Sometimes you need to build infrastructure you have been putting off since the 80's (the rebuild was originally planned for the 86 Expo).
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Nov 26, 2014 20:38
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Xoidanor posted:Tulip prices can only go up, there's only one harvest a year! lol
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Nov 27, 2014 00:44
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sbaldrick posted:You can say a lot of things, but the Sea to Sky highway was a deathtrap 30 years ago and I'm sure it was even worse when they rebuilt it. Sometimes you need to build infrastructure you have been putting off since the 80's (the rebuild was originally planned for the 86 Expo). The entire population of Vancouver island is cut in half north/south by a single dangerous mountain highway that until very recently barely had any funds for upgrades. Finally after tons of deaths and some tanker spills, and the fact that every single accident would cut the island in half for hours, the province graced us with a little money. At the same time a railway runs parallel to this highway serving all the little commuter villages and towns, but it sits abandoned because we have seriously no idea how to plan infrastructure in this province, let alone fund anything outside of Vancouver. A ton of people live way up north of Victoria in some of these places, which used to be proper towns and villages with reasons to exist, but now they mostly serve as "cheap" housing for people so absolutely desperate to own a house they're willing to commute over this horrible highway every day. It's very similar to all the awful little places along the West Coast Express' route, which is a model people here were hoping to copy with the railway. But in this case the Malahat highway really did need upgrading, I just hope maybe one day we can get the railway running again, even if it was just a couple trips each way every day. The E&N railway was so badly run you'd swear it was purposeful internal sabotage like with Canada post. For the last 30 years or so the train would leave downtown Victoria in the morning and come back in the evening and nothing could change that schedule. No matter how many people who lived up north of Victoria and worked in the city begged for the schedule to be reversed they didn't do it until like the last year before it all got shut down. Now our idiot (thankfully ex) mayor severed downtown from the railway basically dashing any hopes of turning it into a commuter railway serving the region, or a transit line serving Langford. Yes, we have a railway going between downtown and the fastest growing suburb that has horrible traffic problems and we let it sit abandoned. Baronjutter fucked around with this message at 02:52 on Nov 27, 2014 |
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Nov 27, 2014 02:46
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It's alright, there is now no legal barrier preventing BC from leaving Canada. I am perfectly fine with this.
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Nov 27, 2014 03:41
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Baronjutter posted:The entire population of Vancouver island is cut in half north/south by a single dangerous mountain highway that until very recently barely had any funds for upgrades. Finally after tons of deaths and some tanker spills, and the fact that every single accident would cut the island in half for hours, the province graced us with a little money. At the same time a railway runs parallel to this highway serving all the little commuter villages and towns, but it sits abandoned because we have seriously no idea how to plan infrastructure in this province, let alone fund anything outside of Vancouver. A ton of people live way up north of Victoria in some of these places, which used to be proper towns and villages with reasons to exist, but now they mostly serve as "cheap" housing for people so absolutely desperate to own a house they're willing to commute over this horrible highway every day. It's very similar to all the awful little places along the West Coast Express' route, which is a model people here were hoping to copy with the railway. But in this case the Malahat highway really did need upgrading, I just hope maybe one day we can get the railway running again, even if it was just a couple trips each way every day. I don't know the specifics, but the Island Corridor Foundation has been working for a very, very long time to get service on the island restarted as proper commuter rail into Victoria, and my understanding is they've been successful? I do know for a fact that they secured $15 million dollars in funding, and I think they have some kind of agreement with Via rail to operate the train again once the tracks are repaired. Here's there website if you want to poke around: http://www.islandrail.ca/ It's not very professionally curated though, their current news story is just a picture of someone installing a rubber flange on the rails in Nanaimo ...  Interestingly, they address the train station problem in Victoria that you're talking about. Apparently even the worst remaining possible station still isn't too bad, about 15 minutes on foot out of downtown, and a more ideal spot that's available is only 5 minutes.
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Nov 27, 2014 04:15
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This is totally anecdotal, but I am curious: My friend is looking into buying a house in Toronto. She's been looking with an agent since the spring, and she said that over the summer she was getting lots of new listings sent to her all the time. Things started to slow down in Sept/Oct towards Thanksgiving, but her realtor said it was normal and that things always picked up a lot after Thanksgiving then cooled off again closer to Christmas. Only thing is that after Thanksgiving the listings continued to dry up, her realtor said he's never seen it happen like this before. Again, anecdotal, but anyone hear anything like this? What would be the reason why people aren't listing like they used to?
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Nov 27, 2014 21:39
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triplexpac posted:her realtor said he's never seen it happen like this before. I bet the realtor is in his first year of business so technically he's not lying. If this thread has taught us anything, it's that we shouldn't draw conclusions from data supplied by Realtors(tm). Every year is the same, it spikes in the Spring and again in September. 
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Nov 27, 2014 22:29
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triplexpac posted:This is totally anecdotal, but I am curious: I play a game with all of my Toronto friends whenever they start talking about real estate (which is always, in the city) and discussing how much their house is "worth". I ask them "would you pay the amount that you would ask for your house?" The answer is always no. Listings are low in key areas, partly because moving is loving expensive with double land transfer in Toronto plus agent fess, plus misc, but also because, and I believe this firmly, no one wants to pay what people are asking for houses. I am in this situation myself. Spend a few more years finishing my mortgage and owning the place free and clear, or move up to a slightly bigger slightly better located place and take on another 500k minimum in debt? Its a no loving brainer and I think this is playing out more than it was before. Realtors can't find any product in the traditional "starter" ranges because less people are moving up.
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Nov 27, 2014 23:25
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Saltin posted:I play a game with all of my Toronto friends whenever they start talking about real estate (which is always, in the city) and discussing how much their house is "worth". I ask them "would you pay the amount that you would ask for your house?" Presumably in the past this would not have been the case, generally speaking? In normal markets would one expect there be a preponderance of 'yes' answers? (Trying to disentangle whether this is normal human 'endowment effect' type stuff, or a signal of an inflated market)
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Nov 27, 2014 23:34
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Lexicon posted:Presumably in the past this would not have been the case, generally speaking? In normal markets would one expect there be a preponderance of 'yes' answers? (Trying to disentangle whether this is normal human 'endowment effect' type stuff, or a signal of an inflated market) I feel like a reasonable market would mean more yes answers, but I don't have any evidence for that, other than people being reasonable. With regard to the people not moving as much, here's an article that speaks a bit about what I've seen http://www.thestar.com/business/real_estate/2014/09/08/moveup_buyers_paralyzed_by_high_house_prices_cibc.html Saltin fucked around with this message at 00:30 on Nov 28, 2014 |
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Nov 28, 2014 00:25
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Yeah, the spike in the spring comes from people who spent the winter getting their house ready to sell, the spike in the early fall is from the procrastinators who wanted to sell their house and just realized it's going to get cold, and everyone else is the people who have to sell their house on short notice.
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Nov 28, 2014 00:25
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Good thing OPEC decided not to cut production.
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Nov 28, 2014 00:31
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Hahaha gently caress Alberta
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Nov 28, 2014 01:05
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Cultural Imperial posted:Hahaha gently caress Alberta Cultural Imperial name 5 things you like about Canada.
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Nov 28, 2014 01:23
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Dr. Witherbone posted:Cultural Imperial name 5 things you like about Canada. Whistler bike park Whistler Montreal St Amboise cream ale Seeing Canadian businesses fail
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Nov 28, 2014 01:25
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I think we can all be united behind "gently caress alberta", it's one of the few things Canada has left.
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Nov 28, 2014 01:26
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Baronjutter posted:I think we can all be united behind "gently caress alberta", it's one of the few things Canada has left. gently caress Alberta is the key to Canadian unity.   
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Nov 28, 2014 01:45
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Lexicon posted:Presumably in the past this would not have been the case, generally speaking? In normal markets would one expect there be a preponderance of 'yes' answers? (Trying to disentangle whether this is normal human 'endowment effect' type stuff, or a signal of an inflated market) Yeah, the behavioral econ effect that you mention would tend to make me think that the answer would often be 'yes'. People also generally buy the houses that they do because they like/value them more than other people do, so you would also expect answers to skew in the yes direction because of that as well.
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Nov 28, 2014 01:50
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Cultural Imperial posted:Hahaha gently caress Alberta Yup due the Saudis the price of oil is expected to nose dive. Will basically make western energy projects like shale oil cost ineffective. lol 
etalian fucked around with this message at 02:23 on Nov 28, 2014 |
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Nov 28, 2014 02:17
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The BC Liberals plan to stall for time succeeds! Who am I kidding? They will still build all the infrastructure, with even greater subsidies, anyways.
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Nov 28, 2014 02:27
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