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I posted the link in the local Facebook group with the expectation of getting a bunch of property owners getting their panties in a twist, but no, literally everyone seems to be in favour of it, except one dude who thinks his neighbors who spend 3 months of the year here shouldn't count as having an empty house.
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Mar 12, 2019 00:17
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Mandibular Fiasco posted:The fact this is even a thing is absolutely baffling to me. Vacant mansions being rented out for pennies on the dollar...Vancouver truly is in another galaxy. Yeah I'd been seeing some of that mortimer_1 Twitter account's posts and there was some ridiculous West Van mansion with like 6 bedrooms going for twice what we pay for our lovely two-bedroom off Commercial Drive. Like, we could get another two couples who are good friends and be pretty well set up. (Except that the commute from British Properties would suck balls.) I'm also not entirely sure that they weren't intending for the rent to be "per week" or something. Meanwhile, I've been seeing bullshit like people trying to rent out barely-lived-in McMansions on the Cambie Corridor for ridiculous prices, like $6K/month for this three-bedroom. I saw a 4-bedroom trying to rent for $8K/month, and really wasn't sure who would even think about paying that.
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Mar 12, 2019 00:28
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Mandibular Fiasco posted:The fact this is even a thing is absolutely baffling to me. Vacant mansions being rented out for pennies on the dollar...Vancouver truly is in another galaxy. Everything old is new again? Lots of mansions in the olden days ended up being split into walk-up apartment buildings we know today.
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Mar 12, 2019 00:43
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Lobok posted:Everything old is new again? Lots of mansions in the olden days ended up being split into walk-up apartment buildings we know today. Sure, that’s true, however, people usually lived in them first. So many of these were built for land banking. End result is probably the same, as you suggest.
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Mar 12, 2019 00:56
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This was unironically posted in a thread on a Vancouver development forum after a student asked what would be your ideal home:quote:If your talking about a 1 bedroom the ideal size for a young professional is around 300-400sqft. http://forum.skyscraperpage.com/showthread.php?p=8502366 The poster is the most insufferable fascist weirdo I've ever seen so this is not a joke.
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Mar 12, 2019 01:54
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UnfortunateSexFart posted:This was unironically posted in a thread on a Vancouver development forum after a student asked what would be your ideal home: I too, have seen Terry Gilliam's totally literal, unironic masterpiece, Brazil. These are like the guys who think food is a hardship and long for nutritionally complete gruel.
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Mar 12, 2019 02:16
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I think that dude built a PC once and then decided that that'd be the mirror he gazes through to interpet his life.
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Mar 12, 2019 02:51
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CRISPYBABY posted:I think that dude built a PC once and then decided that that'd be the mirror he gazes through to interpet his life. Hi, welcome to the Something Awful Dot Com Internet Forums, friend. Have you met anyone here (or even yourself)?
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Mar 12, 2019 02:52
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HandlingByJebus posted:Hi, welcome to the Something Awful Dot Com Internet Forums, friend. Have you met anyone here (or even yourself)? I have but I'm more used the more standard nerd flaws like interpreting all media as if you're writing a video game review. Asking your house to be modular, translucent and have glowing blue LEDs (ok that last one is implicit) like your last *sick build* is new to me. I don't read YOSPOS tho so maybe they're hiding around.
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Mar 12, 2019 03:22
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CRISPYBABY posted:I have but I'm more used the more standard nerd flaws like interpreting all media as if you're writing a video game review. Asking your house to be modular, translucent and have glowing blue LEDs (ok that last one is implicit) like your last *sick build* is new to me. Sounds like someone doesn't understand what females crave in a home.
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Mar 12, 2019 03:41
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HookShot posted:Sounds like someone doesn't understand what females crave in a home. drat right. They crave DoomGuy's bathroom. 
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Mar 12, 2019 04:17
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HandlingByJebus posted:drat right. They crave DoomGuy's bathroom. 
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Mar 12, 2019 04:26
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UnfortunateSexFart posted:This was unironically posted in a thread on a Vancouver development forum after a student asked what would be your ideal home: That reminds me of the manifesto from the guy that made that food replacement soylent stuff https://arstechnica.com/gadgets/2015/08/op-ed-how-i-gave-up-alternating-current/ quote:Kitchens are expensive and dirty. This home manufacturing center has been by far the most liberating to eliminate. They are the greediest consumers of power, water, and labor and produce the most noise and garbage of any room. Moreover, they can be made totally unnecessary with a few practical life hacks. mashed fucked around with this message at 05:15 on Mar 12, 2019 |
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Mar 12, 2019 04:53
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mashed_penguin posted:That reminds me of the manifesto the guy that made that food replacement soylent stuff https://arstechnica.com/gadgets/2015/08/op-ed-how-i-gave-up-alternating-current/
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Mar 12, 2019 05:01
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Mar 12, 2019 07:02
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https://twitter.com/SteveSaretsky/status/1105516973490749440
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Mar 12, 2019 18:37
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UnfortunateSexFart posted:300-400sqft. This dude sounds like he wants to live on a space station. A lovely and cramped space station. Hell even our first space stations had little viewports.
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Mar 12, 2019 18:38
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 OPTIMIZATION COMPLETE
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Mar 12, 2019 18:41
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jet sanchEz posted:Toronto is short $80 million due to lower than expected revenue from the land transfer tax so they raised the property tax to make up for it. Good.
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Mar 12, 2019 19:06
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No you see foreign buyers are just a very, very small portion of the market and oh
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Mar 13, 2019 03:39
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With all these mansions hitting the rental market, now is not the best time to be your average, run of the mill, bought at the top bag holder https://twitter.com/mortimer_1/status/1105668228351647746
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Mar 13, 2019 04:26
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Femtosecond posted:With all these mansions hitting the rental market, now is not the best time to be your average, run of the mill, bought at the top bag holder Four loving Million? Does that house stretch back for two blocks or have a cellar full of Hitler's Argentinian Malbecs?
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Mar 13, 2019 04:32
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Just had a look on google maps. It's a nice area I guess, but there's nothing particularly special about it. You could probably find the exact same product in East Van for "only" $1.4M.
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Mar 13, 2019 04:36
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God willing 650k before the end of the decade.
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Mar 13, 2019 05:28
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Fuzzy Mammal posted:God willing 650k before the end of the decade. Hell yeah. Also, negative yield or whatever, $3,600/month is still way the gently caress too much for a three-bedroom with an unfinished basement. Your target for a house like that are basically university students, who are not known to be able to afford $1,200/month for a room in a shared house. Edit: lol, it's literally right on King Edward, so also getting a ton of traffic noise. I bet they used the real estate listing photos from 2016, too, and that beautifully maintained garden is an overgrown mess by now. Lead out in cuffs fucked around with this message at 08:30 on Mar 13, 2019 |
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Mar 13, 2019 08:25
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Can $3600/mo actually cover the mortgage on a typical $4m home? Even setting aside insurance, tax and maintenance?
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Mar 13, 2019 13:29
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No, see, Vancouver's government considers a 3 bedroom rental at ~$3,700 (for west, ~$3,300 East Van) "affordable housing"; so you're actually getting a deal ! (https://www.straight.com/news/1039161/city-vancouver-now-defines-3702-rent-affordable-housing) Edit: Lead out in cuffs posted:Edit: lol, it's literally right on King Edward, so also getting a ton of traffic noise. rgocs fucked around with this message at 14:10 on Mar 13, 2019 |
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Mar 13, 2019 13:55
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Heners_UK posted:Can $3600/mo actually cover the mortgage on a typical $4m home? Even setting aside insurance, tax and maintenance? Sure, if your down payment was $3.3 million or so.
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Mar 13, 2019 22:44
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Heners_UK posted:Can $3600/mo actually cover the mortgage on a typical $4m home? Even setting aside insurance, tax and maintenance? If they put 20% down they have a mortgage of 3.2 million. 2016 mortgage rate of 2.69%= monthly payment of only $14,600.00 If they put 80% down (where'd that money come from? downsized to this dump in vancouver from a larger house?), mortgage of 800K . 2016 rate of 2.69% = monthly payment of $3,650.00. This guy hosed up big time if he isn't just money laundering.
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Mar 14, 2019 03:44
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The Butcher posted:
this is extra appropriate because bender sublet his closet to fry
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Mar 14, 2019 03:57
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Purgatory Glory posted:if he isn't just money laundering. 
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Mar 14, 2019 04:10
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Purgatory Glory posted:If they put 20% down they have a mortgage of 3.2 million. 2016 mortgage rate of 2.69%= monthly payment of only $14,600.00 Yeah, part of me wants to believe that there are actually semi-rich assholes out there who took out mortgages to buy $4M "investment" properties , but money laundering just seems a lot more likely. I would imagine, though I'm no expert, that if the bubble is mostly due to money laundering, then popping it will have a far less harmful effect on the local economy than a bunch of mortgages going delinquent.
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Mar 14, 2019 08:17
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Purgatory Glory posted:If they put 20% down they have a mortgage of 3.2 million. 2016 mortgage rate of 2.69%= monthly payment of only $14,600.00 Edit: double post. Zenforo!
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Mar 14, 2019 08:17
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Lead out in cuffs posted:I would imagine, though I'm no expert, that if the bubble is mostly due to money laundering, then popping it will have a far less harmful effect on the local economy than a bunch of mortgages going delinquent. I think regardless of the reasons it pops, the huge portion of our economy based on real estate such as agents, construction workers, and banking are going to lose many jobs. Not to mention the tax implications of losing that sweet property transfer tax revenue. Crime will then skyrocket so at least we’ll have need for lots of police.
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Mar 15, 2019 01:11
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Evis posted:I think regardless of the reasons it pops, the huge portion of our economy based on real estate such as agents, construction workers, and banking are going to lose many jobs. Not to mention the tax implications of losing that sweet property transfer tax revenue. Crime will then skyrocket so at least we’ll have need for lots of police. REALTOR(tm)s are going to be hosed for sure, but there is genuinely a population-driven need for new that isn't likely to go away soon. I mean, we *could* go back to thirty more years of building zero rental units, but I don't think the voting public will actually tolerate that this time around.
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Mar 15, 2019 01:53
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Man, I stopped to check out this place from VanReFlipflops on my way home from martial arts class, and all I got was being witness to some Surrey people stabbing each other. https://twitter.com/VanREflipflops/status/1106379450613026816  Edit: apparently the kid who was stabbed ended up dying. Also a friend of mine from the neighbourhood knew him -- he and his brothers went to the same school as her kids. 
Lead out in cuffs fucked around with this message at 08:11 on Mar 18, 2019 |
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Mar 16, 2019 07:26
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Canadian 2019 federal budget just juiced the condo market a bit, 10% interest-free "first time homebuyer" down payment loan on new construction units, 5% on existing, available only to first time home buyer households with income under 120,000 per year. Also increased the RRSP HBP withdrawal limit to 35,000 per person.
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Mar 19, 2019 21:07
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James Baud posted:Canadian 2019 federal budget just juiced the condo market a bit, 10% interest-free "first time homebuyer" down payment loan on new construction units, 5% on existing, available only to first time home buyer households with income under 120,000 per year. Also increased the RRSP HBP withdrawal limit to 35,000 per person.  Condos are already pretty much out of reach for households meeting those criteria, in Toronto at least.
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Mar 19, 2019 21:12
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James Baud posted:Canadian 2019 federal budget just juiced the condo market a bit, 10% interest-free "first time homebuyer" down payment loan on new construction units, 5% on existing, available only to first time home buyer households with income under 120,000 per year. Also increased the RRSP HBP withdrawal limit to 35,000 per person. Great. The solution is more debt. I should have been a banker.
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Mar 19, 2019 21:13
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A reminder that the NDP's national housing strategy is basically "more available debt to buyers" and "weak hand jobs to developers"
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Mar 19, 2019 21:20
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