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I can make some art for you guys if you want to invest-hide in $1M Warhammers...
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Mar 6, 2021 12:03
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https://twitter.com/mortimer_1/status/1368276663054704645?s=19 People sometimes claim you can't tell whether prices are really rising because it's an average/median/benchmark price and not the same home. This realtor was kind enough to help out! (Property transfer tax was 53k on 2.5m.)
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Mar 6, 2021 20:57
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gently caress me. That's what 2.6M gets you these days? Jesus loving Christ. Just lol that we have the most left leaning provincial government in Canada and they won't do diddly poo poo about any of this.
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Mar 6, 2021 23:27
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Sassafras posted:https://twitter.com/mortimer_1/status/1368276663054704645?s=19 $15k/month isn't bad work if you can get it.
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Mar 7, 2021 00:43
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Sassafras posted:Also: Trying to get wife's mother's place listed since she's roughly 80 and lives hours away from everybody else in the family (used to be other relatives there, but they've left/died, as have most elderly friends). Sassafras posted:
So only two of the six people offering above list included inspection and finance conditions. Good frickin' luck against the four who didn't.
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Mar 7, 2021 02:27
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MickeyFinn posted:$15k/month isn't bad work if you can get it. Just dropping 180k after taxes on a mortgage. No big deal.
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Mar 7, 2021 04:16
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Boot and Rally posted:Just dropping 180k after taxes on a mortgage. No big deal. What? You can't swing that?
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Mar 7, 2021 20:54
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Sassafras posted:https://twitter.com/mortimer_1/status/1368276663054704645?s=19 The neighborhood has absolutely zero redeeming qualities except for wealthy, WASP-y neighbors. Even the closest supermarket sucks. I guess south Cambie Street has some OK stuff, but eh. Even with buses and the Canada Line, you really have to drive to get anywhere in a reasonable amount of time. I was kind of into the quiet when I first arrived in 2016, but over the years, the existential emptiness has really gotten to me. So much wealth, privilege, and exclusion, to produce something so oppressively dull. At least I get to leave and go back to the US once I finish at UBC, I feel so awful for the people who are getting squeezed by the rising land values and can't afford to either stay or leave. And where would they go, anyway? Seems like we could use some Georgism up in here.
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Mar 7, 2021 23:36
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If you call the tenant board that landlord technically has to pay a years worth of rent to the former tenants because he didn't move anyone in after evicting them. I'm sure there's no enforcement on that whatsoever but it could be worth a try.
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Mar 7, 2021 23:57
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Cold on a Cob posted:Not yet; we'll see how quickly the sale goes. We won't have to be out until at least May 15 at minimum, June 15 if this extends long enough, and we might as well get our 1 month free rent if we get evicted via an N12. Update: They had a shitload of showings yesterday and multiple bully offers. Accepted one. Not telling me if I’m going to be evicted until they get the deposit tomorrow so it sounds like no conditions. Also a condo we viewed yesterday that was supposed to hold offers until Tuesday already has two bully offers. Guess it’s time to move into a van down by the river.
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Mar 8, 2021 00:20
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Can't you just continue renting till the markets stops being quite so ridiculous? There is no way I'd want to try to buy something right now
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Mar 8, 2021 00:31
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Oh absolutely. We are leaning to renting; we saw this one just because we love the location a lot. We’re going to start looking at rentals soon (unless the new owner assumes us as tenants).
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Mar 8, 2021 00:42
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The Globe and Mail published a Serious Article about how housing can only be made affordable through supply. It was written by the CEO of the canadian realtors association. lol
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Mar 8, 2021 01:40
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Who are these “bully offers” coming from? They sound like straight cash offers so it can’t be interest rates right?
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Mar 8, 2021 01:51
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Lines of credit against the rest of your assets are still based off of prime and are cash sitting in your account once you have one. The bank doesn't care at that point if it's for a house or whatever.
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Mar 8, 2021 01:54
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Vancouver is the BPOE story: So we’re out this morning around 1030 and I’m waiting for my wife in front of a cafe. Guy comes over and asks to use my phone to ‘call his girlfriend to see if she’s still alive’. I said, ‘Sorry, no.’ He says, ‘why not?’ I reply, ‘I’m not giving you my phone’. He says, ‘WTF is wrong with you?’ I get up and walk quickly away. Honestly, this town is such a shithole.
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Mar 8, 2021 02:06
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I have an aunt in her late seventies who owns outright an older townhouse as part of a larger complex in Burnaby. The strata has been approached by a developer who wants to buy everyone out. My aunt is somewhat despairing because she's made the place her home, expecting to inhabit it until she dies. She is now in the ludicrous position of potentially getting something in the range of a million dollars for her townhome (which she paid ~$100,000 for) if the strata votes in favour and feeling like she would have to downgrade her living arrangements as a result. She doesn't think she can get a place of comparable size and niceness given what a million dollars gets you these days.
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Mar 8, 2021 02:48
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Mandibular Fiasco posted:So we’re out this morning around 1030 and I’m waiting for my wife in front of a cafe. Guy comes over and asks to use my phone to ‘call his girlfriend to see if she’s still alive’. I said, ‘Sorry, no.’ He says, ‘why not?’ I reply, ‘I’m not giving you my phone’. He says, ‘WTF is wrong with you?’ I get up and walk quickly away. All joking aside, this is every city ever
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Mar 8, 2021 02:49
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sitchensis posted:I have an aunt in her late seventies who owns outright an older townhouse as part of a larger complex in Burnaby. The strata has been approached by a developer who wants to buy everyone out. My aunt is somewhat despairing because she's made the place her home, expecting to inhabit it until she dies. If the developer wants to buy everyone out, I hope the strata isn't quite so stupid to tolerate only the fair market value of the property.
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Mar 8, 2021 02:51
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qhat posted:If the developer wants to buy everyone out, I hope the strata isn't quite so stupid to tolerate only the fair market value of the property. Burnaby hasn't cracked million dollars for a townhouse yet. That sounds like a pretty fair offer.
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Mar 8, 2021 03:00
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Cold on a Cob posted:
Edit: further events have transpired that have proven the selling agent was doing shady poo poo. to avoid legal bullshit because my agent is actually an old friend of mine, I am not updating this post with that information and editing out what little i said, keeping the most important part: This. loving. Market. Cold on a Cob fucked around with this message at 03:24 on Mar 8, 2021 |
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Mar 8, 2021 03:07
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I'm shocked that there is illegal activity involved in this buying frenzy
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Mar 8, 2021 03:31
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Illegal activity in Vancouver involving large sums of cash?!
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Mar 8, 2021 03:35
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This is Mississauga lmao.
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Mar 8, 2021 03:42
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Cold on a Cob posted:This is Mississauga lmao. Tomayeto, Tomahto
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Mar 8, 2021 04:01
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Crow Buddy posted:Tomayeto, Tomahto Toronto Tronno
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Mar 8, 2021 04:53
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qhat posted:All joking aside, this is every city ever I’ve lived in Vancouver for thirty of my forty some odd years. This was a first.
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Mar 8, 2021 04:57
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Mandibular Fiasco posted:I’ve lived in Vancouver for thirty of my forty some odd years. This was a first. Sounds like Vancouver is finally catching up to other world class cities.
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Mar 8, 2021 06:42
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Ok ok ok i think i see where i hosed up my personal finances finally: https://twitter.com/TheBeaverton/status/1368667088043323395?s=20
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Mar 8, 2021 14:17
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I'm trying to look for a new place to live and condos.ca keeps timing out. This does not bode well.
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Mar 8, 2021 18:00
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Cold on a Cob posted:I'm trying to look for a new place to live and condos.ca keeps timing out. condos.ca is bad, use zolo or realtor
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Mar 8, 2021 18:34
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sitchensis posted:I have an aunt in her late seventies who owns outright an older townhouse as part of a larger complex in Burnaby. The strata has been approached by a developer who wants to buy everyone out. My aunt is somewhat despairing because she's made the place her home, expecting to inhabit it until she dies. People hate on the primary exemption as a big giveaway, but this story seems like a summary of why it exists. If she had to pay taxes on her $900k gain what would be left over would not be enough for the same amount and quality of housing. She would have to downsize.
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Mar 8, 2021 18:46
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ChickenWing posted:condos.ca is bad, use zolo or realtor I've been mostly using Zolo as my main source of information (along w/ emails from my agent) but I wanted a way to shortlist my favourite buildings somewhere and it's good for that.
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Mar 8, 2021 18:51
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Femtosecond posted:People hate on the primary exemption as a big giveaway, but this story seems like a summary of why it exists. Those suggested policies often have a window to buy a new place before you get taxed but if nothing you like comes up until too late, look out! She should take the opportunity to downsize while getting paid a premium over a 50 year old townhome's normal value though. The ability to do stairs well fades long before death unless you go suddenly. And the neighborhood is probably a write-off for longer than her lifespan anyway if every last thing is getting redeveloped.
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Mar 8, 2021 18:54
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FYI if people had to pay capital gains upon sale, then home prices would be less than they are now since people wouldn't be able to leverage 0% capital gains to upsize.
qhat fucked around with this message at 19:35 on Mar 8, 2021 |
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Mar 8, 2021 19:15
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Anytime you see low-tax or 0% tax, it's primarily for the richest to move and stash away millions legally without the taxman being able to touch a cent, and very little to do with Joe Bloggs down the road to help him with downsizing in retirement.
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Mar 8, 2021 19:31
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Cold on a Cob posted:Ok ok ok i think i see where i hosed up my personal finances finally: The Beaverton is a parody news thing. You got onioned.
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Mar 8, 2021 19:57
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qhat posted:The Beaverton is a parody news thing. You got onioned. I know, my post was sarcastically agreeing with the Beaverton's point re: how frustrating and worthless real financial advice articles are. qhat posted:Anytime you see low-tax or 0% tax, it's primarily for the richest to move and stash away millions legally without the taxman being able to touch a cent, and very little to do with Joe Bloggs down the road to help him with downsizing in retirement. Agreed. There are ways to make it benefit the non-wealthy and nobody even talks about them in the media. Like I imagine the exemption being capped at 250k or something would help a lot even.
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Mar 8, 2021 20:29
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Cold on a Cob posted:I know, my post was sarcastically agreeing with the Beaverton's point re: how frustrating and worthless real financial advice articles are. Things that depress labour mobility even farther than it's already dropped in recent decades aren't really desirable. Besides, there'd be a bunch of other effects like "actually, housing prices at the lower end wouldn't fall at all because nobody would ever be willing to sell and eat that big tax hit rather than renting it out", "large organizations that can borrow infinite money at minimal interest cost buy it all instead", or funnier dodges that despite easy to being restrict, seldom are (that's the "laws favour the rich" thing) for property transfer taxes such as: "haha, own the house in a corporation with a possibly convoluted ownership structure, sell control of the corporate structure instead" hijinks. The BC NDP appear to be taking steps to means test the basic home owners grant on property taxes, and the HOG discount on property taxes is one of the only current incentives not to adopt the "house in a holding corp" model. (The other is accounting costs but pay someone to do it once or twice, copy them every other year for free.). We'll see how this ties into the SVT/beneficial ownership registries - probably it's all good from a "chasing laundering / tax evasion" point of view even if useless at generating affordable housing. I think the role of "way lower taxes" is rather underestimated in how the boomer generation, particularly the earlier ones, got so wealthy. I think my marginal rates are at least 25% (and I don't mean 1.25x) above my parents' in their high earning heyday ... just 20-30 years ago (but we're sure paying for their healthcare!)
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Mar 8, 2021 20:55
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Mafic Rhyolite posted:If you call the tenant board that landlord technically has to pay a years worth of rent to the former tenants because he didn't move anyone in after evicting them. You can also report them to the City of Vancouver in case they're not paying their empty home tax on that vacant suite: https://vancouver.ca/home-property-development/get-help-with-a-property-concern.aspx
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Mar 8, 2021 21:50
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