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Our place is 5 units and had a depreciation report done in 2013 and 2017. I like the small strata we have because you're less likely to get crazy psychos, and sure enough so far everyone seems reasonable. Plus, it's easier to get things done. I would stay the gently caress away from that nightmare place in Burnaby.
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Feb 12, 2021 23:22
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Two of the four condos that hit mls this week that I was planning on checking out this weekend already sold. Cool.
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Feb 13, 2021 03:22
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It's similar here in the US, I'm trying to buy a house and have been outbid twice by people offering $15-$30k over asking, in an area that has never experienced any huge housing booms and no fundamental reason to expect one. Maybe people sitting at home all day are just horny to buy?
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Feb 13, 2021 03:31
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I do nothing from the strata act for my duplex besides maintain the appropriate insurance.
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Feb 13, 2021 04:11
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https://twitter.com/StephenPunwasi/status/1360362011897520129?s=20 This bubble, or whatever you want to call it, ain't ending anytime soon.
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Feb 13, 2021 05:27
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Throatwarbler posted:It's similar here in the US, I'm trying to buy a house and have been outbid twice by people offering $15-$30k over asking, in an area that has never experienced any huge housing booms and no fundamental reason to expect one. Maybe people sitting at home all day are just horny to buy? People who have been cooped up in a condo for a year are desperate to get a little autonomy and a yard.
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Feb 13, 2021 06:14
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Juul-Whip posted:my partner & i have enough for a downpayment but we're gonna hODL. meanwhile all you suckers have bought or are looking. this means I won the thread Mod please close thread. a winner has been chosen
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Feb 13, 2021 12:35
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Cold on a Cob posted:Two of the four condos that hit mls this week that I was planning on checking out this weekend already sold. Cool. Update - three of the four have sold now.
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Feb 13, 2021 14:51
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A decent interest rate rise will push the poo poo in of a lot of these buyers. But I have no hope for an interest hike anytime soon.
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Feb 13, 2021 17:06
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Yeah rates aren't going to go up significantly for a long loving time. I don't think this bubble will pop unless we see a global or maybe a national depression. At best it might flatten again for a few years. https://twitter.com/JohnPasalis/status/1360317416891437057?s=20 https://twitter.com/JohnPasalis/status/1360317419177340929?s=20 https://twitter.com/JohnPasalis/status/1360317421500960768?s=20 https://twitter.com/JohnPasalis/status/1360317428555726853?s=20 https://twitter.com/JohnPasalis/status/1360317435933564930?s=20 https://twitter.com/JohnPasalis/status/1360317438475272204?s=20 https://twitter.com/JohnPasalis/status/1360317440551514121?s=20 https://twitter.com/JohnPasalis/status/1360317442434736130?s=20 https://twitter.com/JohnPasalis/status/1360317444582215684?s=20
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Feb 13, 2021 17:12
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Purgatory Glory posted:A decent interest rate rise will push the poo poo in of a lot of these buyers. But I have no hope for an interest hike anytime soon. Everybody's qualifying at nearly 5%, they'll be fine.
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Feb 13, 2021 17:13
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it is going to take mass unemployment that hits the professional classes hard to deflate the "bubble" imo. this isn't like 2008 where people were getting loans they could never hope to repay this is just the entire country being okay with piling all their income into housing expenses
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Feb 13, 2021 18:51
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I'm thinking about what the spillover effects of this housing market will be over time if it continues. I'm guessing many people with good incomes are already stretching themselves so thin to own property they can't make meaningful contributions to their retirement (outside of what their property is expected to contribute to their retirement). If the country is piling more and more of their income into housing expenses, will we start seeing decreases in discretionary consumer spending as well?
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Feb 13, 2021 20:40
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Had a conversation with my SO about this recently where I basically had to explain that I'm really not okay with buying any property at all in the medium term if having a quality standard of living for a normal sized family means leaving no room for error financially. Fortunately I think she might be open to moving somewhere else if it gets to that, but I still get a vibe that I'm a weirdo for thinking like this.
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Feb 13, 2021 20:43
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Shofixti posted:I'm thinking about what the spillover effects of this housing market will be over time if it continues. I'm guessing many people with good incomes are already stretching themselves so thin to own property they can't make meaningful contributions to their retirement (outside of what their property is expected to contribute to their retirement). If the country is piling more and more of their income into housing expenses, will we start seeing decreases in discretionary consumer spending as well? I mean that's something to be considered. People are already spending less because right now there's nothing to spend it on, as a result businesses are closing down with no indication they will ever be back. Makes you wonder what happens to housing when things start to get back to normal, and more pertinently if they ever will.
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Feb 13, 2021 20:46
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the talent deficit posted:it is going to take mass unemployment that hits the professional classes hard to deflate the "bubble" imo. this isn't like 2008 where people were getting loans they could never hope to repay this is just the entire country being okay with piling all their income into housing expenses Yeah this lopsided pandemic "recession" has been brutal for the working class, retail and service workers most exposed, but has been a cake walk for certain white collar workers where work from home has yielded more savings ability and more discretionary spending. While some restaurants and tourism oriented businesses are shutting down and laying off workers, the professional class is funneling their savings from not commuting into buying new tvs on amazon. It's the unaffected professional class that is upgrading their housing situation and seeking more space in detached houses. Any recession that is able to deflate the bubble would have to particularly impact them.
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Feb 13, 2021 21:37
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Sassafras posted:Everybody's qualifying at nearly 5%, they'll be fine. True, living in the basement and renting out the main floor is becoming much more standard for approvals as well. There's tightening in that regard though, seeing some stop approvals based on rental offsets instead using rental income added to income. In the cases of suites in your own home though, not rental property's.
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Feb 13, 2021 21:44
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I am so mad people like Jean Swanson are making it so hard for the working class to live somewhere with her nimbyism!
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Feb 14, 2021 00:03
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I can assure you Swanson's single vote has literally had no effect on anything. The dominant political problem is the (political weathervane) Greens and (centre-right) NPA calling for a city wide plan before doing enacting any change of significance, which will take 4 years to complete. The plan of course will allow nimbys the ability to water down any radical change, and inevitably the next council will put the plan on the shelf and ignore it, thus ensuring the status quo that limits any growth into tiny slices of the city continues.
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Feb 14, 2021 00:19
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Femtosecond posted:The dominant political problem is the (political weathervane) Greens and (centre-right) NPA calling for a city wide plan before doing enacting any change of significance, which will take 4 years to complete. i don't think that's really the problem with the npa https://thetyee.ca/News/2021/01/21/Worries-Rise-NPA-Vancouver-Extremist-Candidates-2022/
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Feb 14, 2021 00:36
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Cold on a Cob posted:Update - three of the four have sold now. Update - Four out of four have now sold before we even had time to view them. Condo market sure came roaring back.
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Feb 14, 2021 01:28
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Surprised you haven't peaced out yet. I mean I get that renting sucks and you'll have to pay more now probably, but it seems like a small price to pay considering you have exactly zero shots at even getting the prospective property inspected. At least with a new rental you'll stand a shot at striking a deal.
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Feb 14, 2021 01:36
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As bad as this is we haven’t seen bidding wars for condo apartments yet. Can’t hurt to make a few offers on my terms. We will see how it goes, but keeping my expectations grounded.
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Feb 14, 2021 01:42
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the talent deficit posted:i don't think that's really the problem with the npa Well ok by centre-right I meant the sitting NPA councillors (minus Hardwick). One of which has already left the NPA a while ago due to the shift in the board. Gonna be real interesting to see what happens with the NPA next election given the current board. But yeah let's suppose a far right NPA drops in a few more ultra NIMBY Colleen Hardwick and worse style candidates and some of them get elected. This is the exact sort of scenario where a future, remarkably different council would reject a city plan engineered by the previous council.
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Feb 14, 2021 01:49
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Femtosecond posted:Yeah this lopsided pandemic "recession" has been brutal for the working class, retail and service workers most exposed, but has been a cake walk for certain white collar workers where work from home has yielded more savings ability and more discretionary spending. Everyone else knows the professional class is in a massive bubble too that going to get kicked out shortly
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Feb 14, 2021 02:59
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I don't really 'get' what is stopping employers from outsourcing all these wfh jobs to places where people will work for less money
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Feb 14, 2021 03:51
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RBC posted:I don't really 'get' what is stopping employers from outsourcing all these wfh jobs to places where people will work for less money the secret of all of these jobs is that skill doesn't really matter. what matters is relationships and communication. if you fragment your workforce you end up not being able to get anything done and if you move everything to some low cost center like colombia eventually the money will follow because upper management will get cut out of where value is really created. outsourcing is only a threat to people whose work doesn't matter
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Feb 14, 2021 04:06
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the talent deficit posted:the secret of all of these jobs is that skill doesn't really matter. what matters is relationships and communication. if you fragment your workforce you end up not being able to get anything done and if you move everything to some low cost center like colombia eventually the money will follow because upper management will get cut out of where value is really created. outsourcing is only a threat to people whose work doesn't matter that sounds like a load of bullshit
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Feb 14, 2021 04:13
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sbaldrick posted:Everyone else knows the professional class is in a massive bubble too that going to get kicked out shortly Care to make a guess on "shortly" lol
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Feb 14, 2021 04:14
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RBC posted:I don't really 'get' what is stopping employers from outsourcing all these wfh jobs to places where people will work for less money there's nothing stopping places that allow for remote work from doing that already, other than a desire to not have to deal with offshore teams
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Feb 14, 2021 04:30
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JawKnee posted:there's nothing stopping places that allow for remote work from doing that already, other than a desire to not have to deal with offshore teams Most companies of a decent size are in the process of doing this. My us-based semi-global software company already has most dev work in India and we are about to outsource our entire finance organization to India too. And this is after bringing a ton of that back in house from a Deloitte consulting shop that was mostly India too. They'll be coming for the other cushy white collar jobs well within a decade
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Feb 14, 2021 04:35
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In my experience, you can't actually save a great deal of money from offshoring in the long term. Those offshore "rubes" you want to hire? The ones who are decent at what they do, and have the requisite communication skills to deal with the difficulty of working remote, know very well what they're worth and will not accept less.
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Feb 14, 2021 04:38
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sleep with the vicious posted:Most companies of a decent size are in the process of doing this. My us-based semi-global software company already has most dev work in India and we are about to outsource our entire finance organization to India too. And this is after bringing a ton of that back in house from a Deloitte consulting shop that was mostly India too. They'll be coming for the other cushy white collar jobs well within a decade I don't disagree that it's happening - I'm saying the only thing stopping it is whether the people who make the call want to deal with it
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Feb 14, 2021 05:32
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My entire 20 year career I've seen so many companies try and fail to offshore (or outsource) software development. More than half of my projects have been rewriting outsourced and offshored software that was a security/performance/scaling/maintenance nightmare, or just plain didn't do what it was supposed to do. Given that in-house software developers often make a shitload of money the incentives to offshore are particularly high... but I keep seeing it fail. I think that could change eventually but so far it the evidence is offshoring/outsourcing has probably produced more work for me rather than it has cost. vOv
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Feb 14, 2021 05:40
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the talent deficit posted:i don't think that's really the problem with the npa Hey now, there are enough problems with the NPA for everybody. Edit: but jfc Lead out in cuffs fucked around with this message at 06:35 on Feb 14, 2021 |
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Feb 14, 2021 06:29
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It's fairly well known in the software industry that there is a reason the discount is so high in these places. "Senior Engineer" in Hyderabad is not the same thing as "Senior Engineer" in Vancouver. In fact it's not even remotely close. The people in India who have that level of expertise are quick to move to the places where they can earn 10-20x what they would earn back home. It's exactly like CoaC said, the discount is insanely high but yet companies are not wholesale moving their technical workforces to India, why? It's only free profit right?
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Feb 14, 2021 08:26
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qhat posted:It's fairly well known in the software industry that there is a reason the discount is so high in these places. "Senior Engineer" in Hyderabad is not the same thing as "Senior Engineer" in Vancouver. In fact it's not even remotely close. The people in India who have that level of expertise are quick to move to the places where they can earn 10-20x what they would earn back home. It's exactly like CoaC said, the discount is insanely high but yet companies are not wholesale moving their technical workforces to India, why? It's only free profit right? You’re richer than you think.
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Feb 14, 2021 11:35
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Cold on a Cob posted:My entire 20 year career I've seen so many companies try and fail to offshore (or outsource) software development. More than half of my projects have been rewriting outsourced and offshored software that was a security/performance/scaling/maintenance nightmare, or just plain didn't do what it was supposed to do. Have you hear this story about the guy that outsourced his own job so he didn't have to work at all and was consistently rated the top performer in his company? https://web.archive.org/web/2013011...-be-a-good-idea I have no doubt there are issues, same as before manufacturering was outsourced overseas. It doesn't happen overnight, but there's no reason to think it won't just keep increasing. It's a simple economic proposition. Then there's the issue of people who are wfh right now in their current job, but what happens if they have to find a new job or want to make a lateral move? Suddenly they're competing with a much larger pool of candidates. Given how poor job security is in the 21st century, it feels like people are digging their own graves.
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Feb 14, 2021 13:16
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RBC posted:Have you hear this story about the guy that outsourced his own job so he didn't have to work at all and was consistently rated the top performer in his company? I'll make the same comment now that I made the first time I heard that story: Sounds like offshoring would go a lot better if every developer there had an experienced local developer here overseeing their work.  I don't think the software development industry is immune to outsourcing (if anything, it should be easier to outsource than manufacturing) but they've been at it since the mid-90s and we're still seeing spectacular project failures. It's a tough nut to crack and even Apple threw their hat into the ring but I don't see them shutting down their onshore teams - it seems to be about supplementing as much as cost cutting a lot of the time. So will it impact local salaries? Idk, maybe, but hasn't impacted me yet and I wasn't exaggerating when I said that more than half of my projects have involved rewriting outsourced/offshored code.
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Feb 14, 2021 14:46
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Every off shored project that was successful (that I've come across) has had high quality project management and a couple of senior architect type people who knew how to breakdown the project to manageable pieces. Of course, that doesn't happen often.
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Feb 14, 2021 14:49
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