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less than three posted:I'm in a newly built PBR and the point is that people will just not bite because it's unaffordable. $3000 for a small 2 bedroom is unacceptable. Renters don't care about ROI just about being to live somewhere.
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Jan 17, 2020 07:02
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Isn't that a mortgage.  e: as a renter at least you're not on the hook when it all starts falling apart. less than three fucked around with this message at 07:20 on Jan 17, 2020 |
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Jan 17, 2020 07:11
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less than three posted:I'm in a newly built PBR and the point is that people will just not bite because it's unaffordable. $3000 for a small 2 bedroom is unacceptable. Renters don't care about ROI just about being to live somewhere. Agreed, it’s unsustainable; and what Vancouver (and most Canadian cities) need is a bunch of government built housing. However that alone won’t fix it; they do need to deal with the fact that most of Vancouver is horribly under built and deal with the SFH zoning issues.
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Jan 17, 2020 07:33
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less than three posted:Isn't that a mortgage. I mean, considering what the rental market is like, and notwithstanding the actual letter of the RTA, as a landlord you're not really on the hook either  Speaking from experience. Landlords do not put in the necessary maintenance to keep a building from falling apart, and I'm pretty sure the logic is that they'll just sell it for the land later. Gorau posted:Agreed, it’s unsustainable; and what Vancouver (and most Canadian cities) need is a bunch of government built housing. However that alone won’t fix it; they do need to deal with the fact that most of Vancouver is horribly under built and deal with the SFH zoning issues. It's almost as if the whole supply-side/demand-side argument isn't an either-or thing.
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Jan 17, 2020 10:05
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Just saw a patient in Edmonton who had been renovicted at the end of December. With 2 days' notice. And had all his furniture tossed out on the lawn so he lost everything. He's presently homeless in -40 weather and of course is going to lose his additional shelter subsidy through Alberta Works as he is no longer paying rent. He came to me asking to write a note so his social worker will pay for boots as he only has shoes and his feet are cold. This kind of notice is super illegal, but how is this guy gonna fight it? He has no money to hire a lawyer. And even if the arbitration mechanisms weren't loaded in favour of the landlord in this province, he's too busy trying not to freeze to death to push for an arbitration date. Everything delenda est.
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Jan 17, 2020 17:36
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Does that not seem like a matter for the police at this point? I would've thought that all other things being equal, he has lawful access to the property as a few days notice is obviously not reasonable.
qhat fucked around with this message at 17:56 on Jan 17, 2020 |
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Jan 17, 2020 17:50
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Albino Squirrel posted:Just saw a patient in Edmonton who had been renovicted at the end of December. With 2 days' notice. And had all his furniture tossed out on the lawn so he lost everything. Ugh. For what it's worth, while browsing arbitration cases in BC, I found one similar one to this. In that case, the arbitrator was clearly furious with the landlord. Unfortunately, that was about ten years ago, when RTA arbitrators didn't have the power to hand out fines, so all he could do was award the guy an amount for his lost property and rent. qhat posted:Does that not seem like a matter for the police at this point? I would've thought that all other things being equal, he has lawful access to the property as a few days notice is obviously not reasonable. Probably, actually. He'd probably need a copy of his tenancy agreement to show them, but most eviction defense guides do recommend involving the police if the landlords are trying to kick you out illegally. (And especially if they've done something like dump all your stuff out and change the locks.) Also just reading Alberta tenancy law is kinda grossing me out. Every single person living in your unit has to be on the lease, and the landlord can serve you 14 days notice for them to move out if someone who isn't on the lease is living with you, and if they don't, they can evict you. So what happens when someone has a baby? Can the landlord serve notice on the baby and then kick you out when the baby doesn't comply?
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Jan 17, 2020 18:41
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cowofwar posted:Coming soon: rent to own! Does that not exist for properties in Canada? Where I live that is actuall an option: you agree on a price of sale and a monthly rent plus the length of the rent period. You then start paying the rent until the time period is up (usually 3-5 years), and at that time you get the option to buy at the original agreed price minus all the rent you've payed, or you can renew the same contract (adjusting to current market price), or just not buy and leave without being on the hook for the property.
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Jan 17, 2020 19:00
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qhat posted:Does that not seem like a matter for the police at this point? I would've thought that all other things being equal, he has lawful access to the property as a few days notice is obviously not reasonable. Ironically I rent out a condo to a couple of university students. My property manager keeps suggesting I increase the rent and I've refused largely because of this thread!
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Jan 17, 2020 19:01
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El Laucha posted:Does that not exist for properties in Canada? Wow that actually seems...kinda cool? I don't know how economically that would work with people pushing their lending out even further but it's like a pre-mortgage I guess?
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Jan 17, 2020 19:38
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If it did exist nobody would use it, because with our volatile land prices nobody would be able to agree on what the price would be 3-5 years in the future.
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Jan 17, 2020 19:59
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Yes, it's like a lava lamp.
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Claes Oldenburger posted:Wow that actually seems...kinda cool? I don't know how economically that would work with people pushing their lending out even further but it's like a pre-mortgage I guess? The downside is that typically the rent-to-owner is responsible for maintenance and upkeep of the place rather than the landlord, the rent is usually higher, and only a small portion of the rent is counted against the purchase price at the end of the term. Also, the tenant usually has to put down a bunch of money up front (though less than a downpayment, usually 1-3% of the price) and if they don't qualify for a mortgage at the end of the term the landlord doesn't have to renew the contract and the renter just loses all their equity. It's basically a car lease, but for a house.
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Jan 17, 2020 20:04
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Yeah it's not really predatory or anything as long as you understand the terms, but it's usually not a good deal.
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Jan 17, 2020 20:24
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The Butcher posted:Yeah it's not really predatory or anything as long as you understand the terms, but it's usually not a good deal. If something is usually not a good deal, and requires careful examination for it not to be predatory, then it kinda is predatory. See also: car leases.
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Jan 17, 2020 20:57
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The Butcher posted:Yeah it's not really predatory or anything as long as you understand the terms, but it's usually not a good deal. Rent to own schemes are historically predatory because they specifically advertise to people who are most likely to not convert. But otherwise they provide a rationalization for higher rents.
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Jan 17, 2020 21:21
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Albino Squirrel posted:Yeah, I've recommended involving the police through his housing support workers. I know nothing's going to happen, though, because the system isn't exactly set up to favour old homeless guys. I needed to rant more than anything else. Generally it's a good idea to involve the police anyway because if the landlord is in the wrong, he can haul their rear end in to small claims (no lawyer needed) later on for any damages and compensation, the police report serves as evidence of wrongdoing.
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Jan 17, 2020 21:57
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Boot and Rally posted:You seem to post quite a bit of content, which is good, but I can’t figure out what your position is. What is your position on the housing market? What is the solution to the problems you may outline in that position? Ahh I forgot to respond to this, but yeah my position is basically this: Juul-Whip posted:I agree that a vast supply of non-market housing should be built. We've had 7 years of literally unprecedented amounts of new housing construction combined with all sorts of policy fiddling and yet housing remains extremely expensive, vacancies near zero and rents spiking. You'd think it would be time to finally admit that the for-profit housing industry can't solve this problem, but we're seemingly no where near that. As I see it Metro Vancouver needs a housing organization that constantly, regardless of market conditions, builds publicly owned apartment buildings. Some of these units should be market rate units to help fund some of the units which should be below market priced units. The province and Metro Vancouver municipalities should raise income taxes and property taxes to fund this. Additionally the Provincial and Federal governments need to start to unwind the variety of incentives that make becoming an amateur landlord and investing in housing an attractive idea. This would significantly decrease demand for condos and help rebalance the market. A tangential housing problem from purely affordability concerns is the lack of housing option variety in Metro Vancouver (CoV in particular). Either you're able to afford a fee simple Single Family House or you have to live in a strata operated apartment building. Moving on from an apartment to something larger is a pretty big leap and overly challenging. This issue effects all Canadian cities to some respect. It's dumb that the majority of surface area is reserved for SFHs. At the very least row houses, fourplexes and small apartment buildings should be allowed everywhere. Unfortunately there's no evidence at all that substantial housing policy change is on the horizon. In the last federal election, despite housing appearing near the top of many lists of concerns in polling, the issue of affordable housing was an afterthought. No party really suggested anything novel or different, merely a promise to build "more housing" *hand waves*. In the Vancouver election several new parties were offering radical approaches, but they were all crushed. Angry voters threw out the previous Vision slate and elected a variety of councillors that promised "more housing." The new Vancouver council has essentially maintained the exact same policies as the Vision government that came before them (lmao). The BC NDP have followed through on the demand side policies that target foreign capital, but haven't done too much otherwise. They're in a minority situation and as expected since being elected have swung hard to the centre. Personally I've decided that no substantial change to the status quo is going to happen since too much Canadian wealth is locked up in housing, and I'm not holding my breath for a bubble to pop before buying property. I've already bought one. Locally in Vancouver I don't really see support to get to the public housing solution any time soon. COPE are the activist left political party that supports public housing. +1 there for having the right idea. Unfortunately they seem overly inflexible. No housing should be allowed at all until we adopt FULL COMMUNISM first. I mean their single councillor recently voted against a market built, mid rise apartment that would have had 20% below market housing and rent control on those units tied to the unit (meaning rent wouldn't rise even if someone moved out). If you can't approve that because you're holding out for a better deal man, I think you're gonna be waiting a while... I post a lot in this thread because housing is this interesting, seemingly intractable, problem that's really at the core of municipal politics. I talk a lot about Vancouver because it's where Canada's housing issues are acute and it's also where I live so I know a lot about what is going on. It would be great to have more posters talk about what is going on in their towns. Femtosecond fucked around with this message at 20:55 on Jan 18, 2020 |
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Jan 18, 2020 20:49
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Femtosecond posted:Perfect stocking stuffer for thread readers? quote:Vancouver author recounts 140 years of real estate horror stories I was just checking on this since I threw a hold on a library copy when you posted this and they're almost lending them out now. VPL: 64 holds on 10 copies BPL: 5 holds on 4 copies NWPL: 0 holds on 1 copy Surrey: 12 holds on 4 copies Burnaby supremacy yet again! (I think anyone who's been in New West's library will concede the point).
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Jan 18, 2020 21:52
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James Baud posted:I was just checking on this since I threw a hold on a library copy when you posted this and they're almost lending them out now. What’s wrong with NWPL? It’s a small city library but the building itself is newly renovated.
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Jan 18, 2020 22:22
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Mandibular Fiasco posted:What’s wrong with NWPL? It’s a small city library but the building itself is newly renovated. Chiefly that the library has next to zero catalog, such that if you live in New West and don't want to wait around for an interlibrary loan on much of what you read, (or, if the book is available but popular, to sit around waiting on hold for the 1-2 copies they have for a year), you'd end up going to Burnaby for everything anyway since it's only a few minutes away. Surrey's reasonably close to much of New West by car/transit, too, but the hold ratios I just posted were fairly typical so there wasn't really much reason to try Surrey since I wouldn't be out there anyway... though I did need to go to VPL for the more obscure titles. Anyway, I just did a quick burn through several 2018 municipal financial reports and 2018 population estimates from BC Stats for a few cities to see if New West was cheaping out and the answer is "not really". As such, I think they'd be better off throwing in with Surrey or, more likely, Burnaby. 2018 Per Capita Library Spending ($): Burnaby: 52.40 Coquitlam: 37.42 New Westminster: 44.04 Surrey: 35.42 Vancouver: 81.88 Coquitlam had what I was doing cross-library surveys for less often than New West ... For outsiders, the entire metro has a program where you can re-use your existing library card at other civic libraries, though it's not automatic - you need to sign up for it in each city the first time you go to borrow something.
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Jan 19, 2020 06:51
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Huh that's funny. I wonder if the service would be better if they joined up with the Fraser Valley Regional Library. Weirdo Library fact: I stopped in at the library in Masset, Haida Gwaii and was surprised to find out that all the libraries on Haida Gwaii are part of the Vancouver Island Regional Library. That gives them a lot more access to books but boy I wonder how long those books take to get there.
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Jan 19, 2020 23:11
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James Baud posted:Chiefly that the library has next to zero catalog, such that if you live in New West and don't want to wait around for an interlibrary loan on much of what you read, (or, if the book is available but popular, to sit around waiting on hold for the 1-2 copies they have for a year), you'd end up going to Burnaby for everything anyway since it's only a few minutes away. Surrey's reasonably close to much of New West by car/transit, too, but the hold ratios I just posted were fairly typical so there wasn't really much reason to try Surrey since I wouldn't be out there anyway... though I did need to go to VPL for the more obscure titles. Interesting stuff...thanks for the legwork. I actually have a Surrey library card from when I lived there, and have been borrowing books by my Kobo eReader...works great, and waits are pretty short.
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Jan 20, 2020 06:23
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The Butcher fucked around with this message at 18:32 on Jan 20, 2020 |
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Jan 20, 2020 07:39
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I bought the book but I've been so busy recently that I haven't had a chance to open it. When I get around to reading it I'll definitely post any passages that I think the thread would find interesting.
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Jan 20, 2020 18:09
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Femtosecond posted:Personally I've decided that no substantial change to the status quo is going to happen since too much Canadian wealth is locked up in housing, and I'm not holding my breath for a bubble to pop before buying property. I've already bought one. I don't disagree with any of your post -- the situation seems pretty hopeless. I'm just curious as to what you bought and for how much? I casually looked at a 700 sqft two-bedroom apartment on sale across the street from us. It's functionally identical to the place we're renting. The asking price was $480K. When I calculated out the mortgage, strata fees and maintenance costs, it came to about $3.7K/month to buy. We pay $2.1K/month to rent. Now, that place is probably a bit better maintained than ours. Our landlord is pretty much running the building into the ground, and I don't know what he'll do when it needs a new roof or water starts getting into the envelope. But even so, it just doesn't make any sense (and definitely is beyond our low-six-figure-gross-income means) to buy.
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Jan 20, 2020 20:54
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Lead out in cuffs posted:[...]beyond our low-six-figure-gross-income means to buy. cowofwar fucked around with this message at 22:05 on Jan 20, 2020 |
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Jan 20, 2020 22:03
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https://thetyee.ca/Culture/2020/01/21/Play-The-Vancouver-Housing-Game-On-Your-Phone/ Slightly more uplifting? quote:In the first act... you get evicted! Your landlord wants to raise rent by 70 per cent. You can’t afford it, so you must scour a map of rental listings to find a new home.
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Jan 23, 2020 00:40
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Lead out in cuffs posted:https://thetyee.ca/Culture/2020/01/21/Play-The-Vancouver-Housing-Game-On-Your-Phone/ It's a bit on the nose, but a cool explanation of how this type of co-op can work. We are probably going to need a lot more of these sorts of setups, and soon.
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Jan 24, 2020 02:53
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Massive special report on housing in The Economist this week (well, last week's issue, but my copy just arrived today): https://www.economist.com/special-report/2020/01/16/housing-is-at-the-root-of-many-of-the-rich-worlds-problems When The Economist says that the market is broken, the market is really broken.
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Jan 24, 2020 06:58
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You think the magical thinking of those insisting that housing can go up forever, decoupling from wages, will be dissuaded by the Economist?
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Jan 24, 2020 07:29
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Mandibular Fiasco posted:Massive special report on housing in The Economist this week (well, last week's issue, but my copy just arrived today): Coincidentally, Citations Needed's most recent episode puts their articles in perspective (ep98) "The Refined Sociopathy of The Economist". (Link) Edit: added link rgocs fucked around with this message at 15:10 on Jan 24, 2020 |
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Jan 24, 2020 15:03
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Mandibular Fiasco posted:Massive special report on housing in The Economist this week (well, last week's issue, but my copy just arrived today): Could you please paste the article?
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Jan 24, 2020 15:42
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half cocaine posted:Could you please paste the article? quote:Housing is at the root of many of the rich world’s problems HousingShaking the foundations -Housing is at the root of many of the rich world’s problems -How housing became the world’s biggest asset class -Politicians are finally doing something about housing shortages -A decade on from the housing crash, new risks are emerging -Owner-occupation is not always a better deal than renting -Home ownership is in decline -Governments are rethinking the provision of public housing -What is the future of the rich world’s housing markets? Edit: added titles rgocs fucked around with this message at 16:16 on Jan 24, 2020 |
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Jan 24, 2020 16:09
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rgocs posted:That was my first reaction, then I noticed it's only the entry point to a whole 8-article issue/report. Yes, that's why I posted the entry point...multiple walls of text didn't seem to be of value. Hope you found it interesting...I did.
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Jan 25, 2020 06:45
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Lead out in cuffs posted:https://thetyee.ca/Culture/2020/01/21/Play-The-Vancouver-Housing-Game-On-Your-Phone/ lol house blockchain
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Jan 25, 2020 18:43
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https://www.thestar.com/politics/fe...s-it-would.htmlquote:Here’s how it works: If a prospective homebuyer wants a home for $1 million but can only realistically afford to carry a mortgage on $500,000, then an investor of some kind could be found to buy the other half of the home. yes, this would of course improve affordability, and prices would not immediately spike to soak up the additional available purchasing power
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Jan 25, 2020 19:24
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"The investor who finances the other half would receive a rent-like fee for the housing services the homebuyer uses" We could call it "interest"... Is this rent-like fee seriously going to be less than 2.5% because capital gains are so assured?
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Jan 25, 2020 19:38
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That's some pretty wack late stage capitalism poo poo, especially to be hearing from the BoC gov.quote:an investor of some kind could be found... Has some pretty ominous undertones. "This is Cutface Tony, he's gonna be your investment partner. He's gonna be by every month to pick up his share of the uh, fees. Now, before we sign the papers, there's just a little job we need you to do... Congratulations on becoming a home owner!" The Butcher fucked around with this message at 20:33 on Jan 25, 2020 |
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Jan 25, 2020 20:17
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financialize yourself and face to bloodshed
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Jan 25, 2020 20:24
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As per the contract, your investment partner Cutface Tony does have a copy of all the keys. As this is not a rental, no notice is required for Tony to enter the unit.
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Jan 25, 2020 20:47
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