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It's called kicking away the ladder. Once you climb to a perceived level of greatness, you are incentivized to stop others from following you up so you can remain competitive in society.
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Feb 25, 2021 22:24
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Biggest thing I've seen some Yimbys get wrong about the SFH owner mindset is thinking that SFH owners don't want nearby apartments because they don't want competition against their basement suite rental income. Totally wrong. It's not about money, it's all about exclusivity. Owning a SFH grants you exclusive access to a neighbourhood that few others can live in. Once you allow apartments, then suddenly just anyone can live in your hood, even the poors.
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Feb 25, 2021 22:37
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My favourite thing about the rise in prices in Ontario is that the Princess Margaret Hospital in Toronto has a biannual fundraiser in the form of a housing lottery with several gaudy showhomes donated by developers. It's amazing to see the showhomes priced for millions of dollars, but I now know several friends who buy tickets every time because it's the only way they can see themselves affording a place in Ontario. It's for a good cause, but the monetization of property ownership is just crazy.
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Feb 25, 2021 22:52
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Segue posted:My favourite thing about the rise in prices in Ontario is that the Princess Margaret Hospital in Toronto has a biannual fundraiser in the form of a housing lottery with several gaudy showhomes donated by developers. There's a similar thing in BC and it's been kind of amusing seeing their fancy show homes progressively get further and further out of the city. Last I checked I think it was down in White Rock? Edit: Oh, I guess they provide a choice of locations now https://bcchildren.com/grand-prizes/#gp5 Squibbles fucked around with this message at 23:02 on Feb 25, 2021 |
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Feb 25, 2021 23:00
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Squibbles posted:There's a similar thing in BC and it's been kind of amusing seeing their fancy show homes progressively get further and further out of the city. Last I checked I think it was down in White Rock? Or Vernon! Or take a "$2.5 million" 1000sqft condo in Vancouver.
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Feb 25, 2021 23:02
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How do they get off claiming the place in Vernon is worth 2.4 million? I have a cousin who lives a couple blocks away. You can buy houses less than three years old right there for 600-700k today, even a swanky one with extra land shouldn't be ... triple.
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Feb 25, 2021 23:25
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Sassafras posted:How do they get off claiming the place in Vernon is worth 2.4 million? I have a cousin who lives a couple blocks away. Aha, I watched the video. "Package includes the house, an RV, a new BMW X5 and ... 1.4m cash"
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Feb 25, 2021 23:31
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Squibbles posted:There's a similar thing in BC and it's been kind of amusing seeing their fancy show homes progressively get further and further out of the city. Last I checked I think it was down in White Rock? White Rock is one of those nooks of the Fraser Valley where the prices are surprisingly staggeringly high. On the west side of White Rock proper the lots are huge compared to Vancouver ones and you have amazing ocean views. Prices here are like easily 2-4M+. Further west in the Ocean Park neighbourhood of South Surrey you have what are essentially mansion estates overlooking the ocean. This is the West Point Grey of Surrey so prices for these mansions is even higher. If you're a rich dude working in the valley you probably have a big rear end house in Ocean Park. The other spot for rich af people in the Fraser Valley is Fort Langley, where prices start at 1M+ for the land only and people are razing lovely old split levels and building big rear end mansions.
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Feb 26, 2021 02:39
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I mean, I would take the tax-free cash, every single time.
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Feb 26, 2021 02:55
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Femtosecond posted:Boy detached home owners in Kitsilano sure don't want new housing near them. It reminds me of the Point Grey bike route. That said, the NPA hired loving Campaign Research (of robocalls infamy) to run astroturf for them around that bike lane. I wonder if something similar is going on? (Lol if so, given the NPA have more seats than anyone.) The problem with Kits is that the long-term homeowners there were big-time activists in the 60s/70s. Except now all they get activated about is FYGM nimby bullshit. It also makes them most ripe for targeting by shady right-wing political operators.
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Feb 26, 2021 08:28
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Sassafras posted:How do they get off claiming the place in Vernon is worth 2.4 million? I have a cousin who lives a couple blocks away. IIRC there was a similar lottery here in NS that was exposed as being super corrupt and all kinds of tax/ financial fraud
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Feb 26, 2021 10:08
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Professor Shark posted:IIRC there was a similar lottery here in NS that was exposed as being super corrupt and all kinds of tax/ financial fraud When I worked future shop, people would come and pick up their winnings, typically like a 15 dollar radio they paid 100 dollars for, and be happy about it.
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Feb 26, 2021 13:59
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Some Twitter gossip of monster "above comps" sales in East Van accelerating... These are two separate properties, from context. https://twitter.com/van6042/status/1365428841775202306?s=19 And confirmation of the 2.6 - I was skeptical: https://twitter.com/mortimer_1/status/1365495117092581376?s=19 In COVID reno boom news, talked to two construction trades this morning, one says they're now booking bigger projects no sooner than late June (and they have a few teams), and the other couldn't even do a one day thing until 6-8 weeks out. The June one's doing my stuff in March/April - I only had to wait two months but they say their phones are practically ringing off the hook now that winter's over. The "June" guy was talking about a prospective customer who had enthusiastically torn apart most of their place just assuming that they could get work done immediately by different trades back to back to back, having only learned too late how wrong it was. Anyway, fixed mortgage rates now up to 2% flat but HELOCs remain cheap and limits are rapidly growing due to the appreciation if people tap them.
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Feb 27, 2021 04:18
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That's so loving weird since the 90s era stuff is the most undesirable around. Bad 90s construction, doesn't attract the heritage enthusiasts nor the mid century ones.
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Feb 27, 2021 04:24
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Wow, that was the precise property my cousin was bidding on only a mere 2.4 million offer. The insides were kind of like a duplex with basically 2 kind of separated living areas. 2 kitchens, 4 baths? 7 beds? I can't remember all the stats but my dad wanted me to look at the listing since the cousins wanted it.
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Feb 27, 2021 04:54
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The commodification of housing is sickening. How are people of normal means supposed to live? We’ve destroyed the middle class with this low interest rate bullshit and encouraged housing investment to such an extreme that it’s the only industry left in this idiotic country. What an epic disaster.
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Feb 27, 2021 16:08
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Chillyrabbit posted:Wow, that was the precise property my cousin was bidding on only a mere 2.4 million offer. The insides were kind of like a duplex with basically 2 kind of separated living areas. 2 kitchens, 4 baths? 7 beds? I can't remember all the stats but my dad wanted me to look at the listing since the cousins wanted it. I'm far more surprised by the place going for so much over comparables/land value than the mere amount of dollars, but since you know a relatively high bidder on it - is money just no object to the degree that who cares about "overspending" by half a million, or are there "actually it's really worth that" rationalizations involved?
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Feb 27, 2021 16:30
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Mandibular Fiasco posted:The commodification of housing is sickening. How are people of normal means supposed to live? We’ve destroyed the middle class with this low interest rate bullshit and encouraged housing investment to such an extreme that it’s the only industry left in this idiotic country. What an epic disaster. Rising land values lift all middle class boats my friend.
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Feb 27, 2021 16:33
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half cocaine posted:Rising land values lift all middle class boats my friend.
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Feb 27, 2021 16:47
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Lmfao @ that east side home. Lmfao.
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Feb 27, 2021 16:52
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Apparently CADREB is "Chilliwack and District", not exactly on my every day radar: https://twitter.com/eresc79/status/1365544925484355587?s=19
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Feb 27, 2021 17:13
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Sassafras posted:I'm far more surprised by the place going for so much over comparables/land value than the mere amount of dollars, but since you know a relatively high bidder on it - is money just no object to the degree that who cares about "overspending" by half a million, or are there "actually it's really worth that" rationalizations involved? I'm just the outsider looking in at my dad's and cousins family situation so I might not know all the rationalizations, especially with how much money they are throwing around. That said the cousin's (2 families, with kids growing) are currently living in 2 separate condos that are tiny 1 bedroom affairs. They need a bigger place, and wanted a house since that's the normal thing to do in the Vancouver housing market. While money isn't unlimited they were ganging up at least 4 families (my dad, my cousin's, their husbands) into getting a property for them because they need a house and they can't exactly wait out the "housing bubble" with a family growing up and the fact that the "bubble" has persisted for years. They put in 2.4 million because they need a house and that was what they could afford to over bid by and while it is out to lunch they just can't stay in two 1 bedroom condos with a family and they can't move away due to their jobs, family and living situation. There were some "it's worth it" because if you consider it like-a-duplex, it becomes a more manageable 1.2 million each "unit" which isn't completely out there for a duplex lot, and the location was decent being not too far away from everyone else in the family. No one lives further away than Burnaby with most of the families there or in the City of Vancouver I don't think anyone in the family is looking at Surrey or delta or anywhere further than Burnaby.
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Feb 27, 2021 18:05
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Chillyrabbit posted:I'm just the outsider looking in at my dad's and cousins family situation so I might not know all the rationalizations, especially with how much money they are throwing around. 2.4 million cash? What's your cousins' household incomes?
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Feb 27, 2021 18:54
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No idea, but I guess between 4 working adults mid way through their careers they could scrounge up 200k yearly between all of them at least. I think they were aiming to get a mortgage around 1.4 million and selling the 2 condos they partially own for 550k, I'm not sure where the extra cash to make the 450k was going to come from but between the cousin's family, my dad, and the husband's family they would have made it work.
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Feb 27, 2021 19:20
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Tell them to buy this beautiful heritage home with amazing backyard right next to downtown for a mere $2M instead. Also 7 bedrooms, 4 washrooms. https://www.rew.ca/properties/3134076/628-union-street-vancouver-bc?property_click=map Maybe it wouldn't work if they really need a duplex setup. lol that people look at a new condo development and cry "gentrification" ! Uh no man this is gentrification. A previously working class neighbourhood where shite houses that were probably previously rented to a pile of student roommates are being bought and renovated into 2M houses that no one except the 1% can afford. This is a block and a half from the 200 person homeless camp tent city too. Truly Vancouver is a city of contrasts.
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Feb 28, 2021 03:03
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"This parking lot is the hub, it's the heart of the community." https://twitter.com/KamilKaramali/status/1365498132033863680?s=19
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Feb 28, 2021 03:27
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Cugel the Clever posted:"This parking lot is the hub, it's the heart of the community." Imagine this except your local drug dealer is the heart of the community and you have Vancouver.
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Feb 28, 2021 23:40
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That parking lot really tied the $2000 sq/ft room together
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Mar 1, 2021 02:42
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Cugel the Clever posted:"This parking lot is the hub, it's the heart of the community." lmao that the motherfucker's name is Steve Bland, and that this is the heart of his community: 
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Mar 1, 2021 20:23
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I dunno, I looked at a map for this on one of the original stories and just looked again in more detail and that really is *the* only parking for upward of a dozen sports facilities plus that childcare center. The lot's probably slammed all the time, so eliminating it completely would have everybody who uses any of those facilities riled up to hell and back... and given how many there are, that's quite a few people --> media ruckus they've raised. The lot in the bottom right belongs to the adjacent apartment building and so does the one in the top left - both have an excessive number of "private property authorized users only" signs up in streetview suggesting they already have a bit of a "used as overflow" problem. So you take away this lot and you've basically got twenty spots in front of the arena and twenty more two full baseball fields away from everything not happening on those diamonds, shared with people walking the trails.  Maybe that changes if you bulldoze the school (most of "childcare center" building - school says "temporarily closed"...) but I dunno if that's COVID or forever. For a bonus guessing game, try to figure out when the heck this picture is taken for the lots I'm suggesting are "slammed all the time" to be so quiet. Nobody parked at school, nobody parked at home (apts), fair number of people at the rink. During the day, on a pre-Covid weekday, during a winterish school break so there's a hockey camp? Sassafras fucked around with this message at 21:00 on Mar 1, 2021 |
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Mar 1, 2021 20:46
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If you think about it, low-density schools and daycares use up a lot of valuable land that could be housing the middle class.
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Mar 1, 2021 21:05
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Canadian banks give out low interest loans like candy. Real estate investors buy every piece of property in the country, then collectivly refuse to sell except for extremely high prices. Cold families are forced to either rent or buy a property at an extremely overvalued price so they don't die from exposure. Is that a good hyperbole of what's happening? ----------------
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Mar 1, 2021 22:37
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Sassafras posted:I dunno, I looked at a map for this on one of the original stories and just looked again in more detail and that really is *the* only parking for upward of a dozen sports facilities plus that childcare center. The lot's probably slammed all the time, so eliminating it completely would have everybody who uses any of those facilities riled up to hell and back... and given how many there are, that's quite a few people --> media ruckus they've raised. The gently caress are you talking about there's 3 other lots in that photo
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Mar 1, 2021 22:38
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Goddamn people and their loving parking spots. Nobody gives a gently caress about your parking.
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Mar 1, 2021 22:38
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Parking lots are the heart of every community. I met my true love, an F150 in the community hub and
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Mar 1, 2021 22:39
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These people are loving up in arms about a new affordable building in a parking lot when there's a huge loving slum bedbug palace right at oconner and woodbine in the upper left of that photo run by one of the worst landlords in toronto.
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Mar 1, 2021 22:50
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RBC posted:The gently caress are you talking about there's 3 other lots in that photo Did you read the other words? There's a tiny lot in front of the hockey rink that's probably not even enough for hockey icetime transitions on its own, plus the other tiny lot for the trails way behind the baseball diamonds. The other lots are all private/no public use.
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Mar 1, 2021 22:54
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Sassafras posted:Did you read the other words? There's shitloads of street parking in this area and a parking lot at the childcare centre as well and it has great public transit all over. That guy in the video is a loving idiot and so are you.
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Mar 1, 2021 23:01
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RBC posted:There's shitloads of street parking in this area and a parking lot at the childcare centre as well and it has great public transit all over. That guy in the video is a loving idiot and so are you. Surface parking lots are the highest and best possible use of any property, no matter its location. This is what I've learned through extensive public engagement.
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Mar 1, 2021 23:06
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RBC posted:There's shitloads of street parking in this area and a parking lot at the childcare centre as well and it has great public transit all over. That guy in the video is a loving idiot and so are you. The closest area that requires street parking permits is listed as 90-99% claimed, but it's good to know that 1-10% availability is "shitloads of street parking."
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Mar 1, 2021 23:07
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