|
Baronjutter posted:Well its making ME rich on paper, so now I have extremely strong opinions on housing. No new development, it will hurt the neighbourhood character. I'm deeply concerned about our housing crisis but more housing isn't the answer. What we really need is lower property taxes but more policing. You'd get even more for your land if it was rezoned for development. The fact that SFH owners aren't lobbying endlessly for the city to upzone their neighbourhood for apartments shows that there's a lot more motivating people than the land lift gains.
|
# ? Aug 7, 2021 00:55 |
|
|
# ? Jun 13, 2024 00:27 |
|
We purposefully bought in an area that's slated for high density development. They're putting a big hospital down the street and there's nothing else but huge lots and SFH around it. My neighbours all want to NIMBY away their only chance of cashing out ahead. Unbeknownst to them we're selling as soon as someone offers a hot mil to build some apartments or some poo poo. Why wouldn't you take advantage? You want to live on a busy road with sirens going in and out all hours of the day?
|
# ? Aug 7, 2021 01:11 |
|
qhat posted:I think we need to hang landlords from their balconies. I don't think the strata bylaws allow that.
|
# ? Aug 7, 2021 03:40 |
|
Juul-Whip posted:I'll aspire pure nitrogen before I aspire to live in loving Vernon Seconding this. And big ole same for Penticton.
|
# ? Aug 7, 2021 03:43 |
|
With respect to Victoria, Langford isn't even really affordable any more -- already five or so years ago I started hearing about friends starting families who were actively searching in Sooke because they couldn't buy in Langford. Nanaimo sounds like it's going the same direction too. Absolutely insane.
|
# ? Aug 7, 2021 11:49 |
|
MeinPanzer posted:With respect to Victoria, Langford isn't even really affordable any more -- already five or so years ago I started hearing about friends starting families who were actively searching in Sooke because they couldn't buy in Langford. Nanaimo sounds like it's going the same direction too. Absolutely insane. Even Sooke is starting around 700k these days for a dump, 800-900k for something move-in ready. The only place you can "drive until you qualify" is directly into the sea.
|
# ? Aug 7, 2021 17:22 |
|
The big issue is downpayment. At current rates you can get a 30 year mortgage on a 750k place with 20% down and your mortgage payments are going to be about 2k/mo. If you're a family, renting is going to cost more than that. Housing has a lot of other expenses of course, but imo that's why prices are starting at that point, it's just the cost of rent but as a mortgage. The issue is 20% down on that place is 150k, so the only people in the first third of their lives with that much cash either got lucky, got help from their parents, or both. The chances of someone who has that privilege also being able to afford 2200-2500/mo in mortgage+property tax are pretty high. That combined with people selling places on the mainland and moving over (like us, or retiring boomers) and it jacks everything up out of the reach of anyone starting from scratch without any help. Honestly though, next week is the 4th place we've had to get a pre-inspection and pre-tank scan on, and then lost to bids exceptionally higher than us. We'll see how it goes but if this one doesn't work out, it unfortunately might just be out of reach for us.
|
# ? Aug 7, 2021 18:11 |
|
Baronjutter posted:Even Sooke is starting around 700k these days for a dump, 800-900k for something move-in ready. The only place you can "drive until you qualify" is directly into the sea. Now that you mention it I have heard that life is better, down where it's wetter, under the sea.
|
# ? Aug 8, 2021 04:38 |
Claes Oldenburger posted:The big issue is downpayment. At current rates you can get a 30 year mortgage on a 750k place with 20% down and your mortgage payments are going to be about 2k/mo. If you're a family, renting is going to cost more than that. Housing has a lot of other expenses of course, but imo that's why prices are starting at that point, it's just the cost of rent but as a mortgage. This is 100% correct.
|
|
# ? Aug 8, 2021 05:00 |
|
My partner and I just bought a place in Metro Vancouver so now the market is going to tank huzzah
|
# ? Aug 8, 2021 05:56 |
|
sitchensis posted:My partner and I just bought a place in Metro Vancouver so now the market is going to tank huzzah I thought the same thing when I bought 3 years ago lol. The sun never sets etc. etc.
|
# ? Aug 8, 2021 06:08 |
|
We’ll
qhat fucked around with this message at 17:46 on Aug 8, 2021 |
# ? Aug 8, 2021 10:41 |
|
leftist heap posted:I thought the same thing when I bought 3 years ago lol. The sun never sets etc. etc. The sun never sets on the British (Columbian FIRE) Empire, the new home of fiery sunsets.
|
# ? Aug 8, 2021 20:03 |
|
If I could go back in time 10 years I'd post a warning to you all: "buy now or be priced out forever " My advice today is probably the same. If housing is ever affordable here you'll be too busy fighting off mutant raiders to take advantage.
|
# ? Aug 8, 2021 20:07 |
|
Baronjutter posted:If I could go back in time 10 years I'd post a warning to you all: "buy now or be priced out forever " It pains me to admit it, but all the realtor types making this claim a decade ago were in fact spot on.
|
# ? Aug 8, 2021 21:46 |
|
Broken clock etc Guess what ten years ago I had zero savings and was making 25k a year
|
# ? Aug 8, 2021 21:49 |
|
10 years ago I had -$30k net worth and was unemployed. Couldn't afford a house Now I have $500k invested and household income of $200k. Still can't afford a house
|
# ? Aug 9, 2021 01:26 |
I was sure the market was going to crash as soon as I bought about a year ago. Instead my townhouse has gone up 30% in value.
|
|
# ? Aug 9, 2021 01:46 |
|
Well, one thing that has been true for a decade has been steadily dropping rates. If they are now normal forever then buy buy now. If they are not then then at least you can get some schadenfreude of people losing their homes.
|
# ? Aug 9, 2021 15:41 |
|
Purgatory Glory posted:If they are not then then at least you can get some schadenfreude of people losing their homes. The downside here is the people who have been propping up this bullshit for a decade won't be the ones that lose their *primary* home...nor will it be all that big of a deal for them. It's the desperate folks that, under the circumstances, made a pressured decision and lose everything.
|
# ? Aug 9, 2021 17:17 |
|
midge posted:The downside here is the people who have been propping up this bullshit for a decade won't be the ones that lose their *primary* home...nor will it be all that big of a deal for them. It's the desperate folks that, under the circumstances, made a pressured decision and lose everything. Yes, let's have pity on those low-income landlords.
|
# ? Aug 9, 2021 18:17 |
|
midge posted:The downside here is the people who have been propping up this bullshit for a decade won't be the ones that lose their *primary* home...nor will it be all that big of a deal for them. It's the desperate folks that, under the circumstances, made a pressured decision and lose everything. oh no won't someone thinking of the poor helpless defenseless speculators!!?!?!
|
# ? Aug 9, 2021 20:35 |
|
My dad works for a Victoria area municipality and he was telling me about how he just had to put a stop work order on a property that had 5 garden suites, 4 of them illegal, and a trailer on it, charging the full market rate for a 1 bedroom apartment for each. Very cool, very normal real estate market.
|
# ? Aug 9, 2021 21:06 |
|
Why does your dad hate the homeless, preventing a hard working landlord from helping them out like that?
|
# ? Aug 9, 2021 21:14 |
|
The prudent and humble mom-and-pop housing providers of Vancouver
|
# ? Aug 9, 2021 22:02 |
|
From the group 'BC Landlords', incase anyone didn't realize landlords were the pettiest bastards;
|
# ? Aug 10, 2021 03:39 |
|
missing: the landlord telling everyone since his tenant left he can now raise the rent by $300 a month
|
# ? Aug 10, 2021 12:36 |
quote:
We can't do this because it will destroy our profits!
|
|
# ? Aug 10, 2021 14:01 |
|
qhat posted:From the group 'BC Landlords', incase anyone didn't realize landlords were the pettiest bastards; Got a little vomit coming up there when seeing landlords refer to exploitation of housing as "our industry". An industry must produce something of value and landlords produce nothing. Anyway, expropriating private rentals would be awesome as hell. Something as basic and critical as housing cannot be morally run as a means of profit and the existing hodgepodge of social housing and rent subsidization is not sufficient. I recall reading a prediction a few years ago that the US would have fully nationalized rentals by 2030. The theory was that as government put more and more restrictions in place to protect tenants that it would eventually only be viable for the government to be the landlord. Maybe a bit optimistic but considering rent control, no winter evictions, no credit or criminal checks allowed, etc. in certain areas I could see it happening. And perhaps this could also lead to a bit more stabilization in housing prices if you no longer have people buying 'investment' properties.
|
# ? Aug 10, 2021 14:45 |
|
Hey turns out that a reason why housing keeps getting worse, is that the Federal government's housing strategy is super ineffective. quote:Canada’s housing strategy having ‘limited’ impact on housing need, PBO says Time to fire the https://twitter.com/CBCToronto/status/1424489245562052608?s=20 Femtosecond fucked around with this message at 01:53 on Aug 11, 2021 |
# ? Aug 11, 2021 01:37 |
|
Adam Vaughan is the Ur-liberal and has spent his entire life pushing the commodification of housing from the moment his maggot soul ran in 2006 I hate him more than any Ford. Ford’s are low beasts who just follow their ignorant nature. Adam Vaughan chooses evil every day Every time he speaks of affordable housing I hope his stay in hell gets a millennium longer So he’s 100% running for mayor of Toronto
|
# ? Aug 11, 2021 01:54 |
|
He's only going to be replaced with an equally worthless rear end in a top hat with an even larger position in real estate most likely.
|
# ? Aug 11, 2021 01:55 |
|
house-obsessed millennials
|
# ? Aug 11, 2021 04:13 |
|
qhat posted:He's only going to be replaced with an equally worthless rear end in a top hat with an even larger position in real estate most likely. mark carney lol
|
# ? Aug 11, 2021 12:08 |
|
leftist heap posted:house-obsessed millennials Goddamn millenials wanting to live in houses. They're ruining everything.
|
# ? Aug 11, 2021 13:29 |
|
My fave brand of boomer are the ones saying "Millennials just need to suck it up and get used to the new reality" while they slowly rot in their big empty single family homes.
|
# ? Aug 11, 2021 14:24 |
|
Boomers are getting together for one last job. One last stab at the greatest concentration of wealth in the country: Housing. Oceans 1954
|
# ? Aug 11, 2021 17:42 |
|
Cold on a Cob posted:My fave brand of boomer are the ones saying "Millennials just need to suck it up and get used to the new reality" while they slowly rot in their big empty single family homes. My parents didn't help me buy my first house in 1978 and I didn't feel entitled to a university education, why should my kids expect a handout? *rots alone in 6 bedroom house while my daughter, a single mom with 3 kids is forced to rent a 2br apartment while paying off crippling student loans* Capitalism ensures optimal distribution of resources.
|
# ? Aug 11, 2021 18:26 |
|
These people are simultaneously usually the first to demand government action when it looks like the tides capitalism are about to wipe out their highly leveraged "investments". There isn't a lot things in the world that are more despicable than a fair weather capitalist.
|
# ? Aug 11, 2021 18:41 |
|
|
# ? Jun 13, 2024 00:27 |
|
Baronjutter posted:My parents didn't help me buy my first house in 1978 and I didn't feel entitled to a university education, why should my kids expect a handout? This is why you're hearing even the boomers whose homes have skyrocketed in value complain. It's put them in a position to either help out or be considered a greedy pig. A lot would prefer their kids be able to do it on their own.
|
# ? Aug 11, 2021 19:37 |