Sorry, PR is going nuts. Everybody with $$$ is buying up to speculate on the LNG rush.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
Squamish Housing Prices
powell river?
The Squamish trail runners are insane as well. A real safety hazard for riders just trying to ride.
Those girls should cover up.
powell river?
Ah … thought you meant Prince Rupert …
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
Speaking of madness in the FV anyone notice the monster mansion being built on the north face of Vedder Mtn about half way up the hill .
Sticks out like a sore thumb it,s so big and in the middle of the hill all by it,s self , you can see it from #1
moto trails in and out of your yard….I fail to see the issue?
ok spin, here it is.
you own a home in vancouver. thanks to the market, you just made 600K - 1M in the last 2 years, probably the last year. you cash out. you sure as hell can't buy another place in van. you look elsewhere, say squamish. you can buy there and basically be mortgage free due to your fortunate gain in van.
that's it. that's what is happening in squamish. and the more people can get for their place in van, the more they will pay in squamish.
And hey, let's be realistic here too. I don't place ALL the blame all at foreign buyers. Is there an impact, yes. Is the impact bigger than the media and the gov't will let us believe, probably. But I'll bet I could go walk into the bank today and get a 500K mortgage, which says a lot about how retarded that situation is.
People see housing as a guarantee to make money. It's not. Wages aren't that good to keep up with what's happening.
And hey, let's be realistic here too. I don't place ALL the blame all at foreign buyers. Is there an impact, yes. Is the impact bigger than the media and the gov't will let us believe, probably. But I'll bet I could go walk into the bank today and get a 500K mortgage, which says a lot about how retarded that situation is.
People see housing as a guarantee to make money. It's not. Wages aren't that good to keep up with what's happening.
now add the panic of people trying to get into the market.
smells like a bubble, looks like a bubble…. not saying it couldn't run another 10-20% but id bet real estate at some point trades bellow today's prices in the next 10 years
And hey, let's be realistic here too. I don't place ALL the blame all at foreign buyers. Is there an impact, yes. Is the impact bigger than the media and the gov't will let us believe, probably. But I'll bet I could go walk into the bank today and get a 500K mortgage, which says a lot about how retarded that situation is.
People see housing as a guarantee to make money. It's not. Wages aren't that good to keep up with what's happening.
Yep, foreign investment is a component of the problem. How much? We don't know because we don't have good data (probably on purpose at this point).
A huge part of the bubble is average Canadians being able to borrow absurd amounts due to prolonged low (emergency? heh) interest rates. The social mania doesn't help either (buy now or you are screwed forever).
The social mania doesn't help either (buy now and you are screwed forever).
FYP ;)
Why slag free swag?:rolleyes:
ummm, as your doctor i recommend against riding with a scaphoid fracture.
…. but id bet real estate at some point trades bellow today's prices in the next 10 years
this uncanny crystal ball prediction will likely prove true. its like listening to warren b… ;)
random thoughts …
There was a tasering that made huge news headlines.
Then there was the Olympics. That sure raise the profile of Vancouver.
But mainly supply and demand. Where are all the new houses? (Surrey)
Where are all the new condos? (not much actually for a city this size.)
Where are record low interest rates? (Remember 2012 when they went 3% for 10 year renewals?)
But all in all, the real truth is …
The real estate here has gone up quite well for over 10 years.
It has just gone up now to the point that it is way ahead of inflation and combined earning power of lots of people.
BC - Bring Cash. No frig!
Now there is the Squamish Gondola. That one attraction has given a whole new perspective on Squamish. It's not just a highway with trees blocking the view - on a route to ski heaven.
SQ is starting to look a lot more like heaven and a lot less like the big Disney up the street.
Go to Toronto GTA â tons more development than anywhere in BC.
I blame the developers for not having the balls to buy more properties and exploit the middle class.
random thoughts …
There was a tasering that made huge news headlines.
Then there was the Olympics. That sure raise the profile of Vancouver.
But mainly supply and demand. Where are all the new houses? (Surrey)
Where are all the new condos? (not much actually for a city this size.)
Where are record low interest rates? (Remember 2012 when they went 3% for 10 year renewals?)
But all in all, the real truth is …
The real estate here has gone up quite well for over 10 years.
It has just gone up now to the point that it is way ahead of inflation and combined earning power of lots of people.
BC - Bring Cash. No frig!
Now there is the Squamish Gondola. That one attraction has given a whole new perspective on Squamish. It's not just a highway with trees blocking the view - on a route to ski heaven.
SQ is starting to look a lot more like heaven and a lot less like the big Disney up the street.
Go to Toronto GTA â tons more development than anywhere in BC.
I blame the developers for not having the balls to buy more properties and exploit the middle class.
Dude, I really hope your trolling.
If you're trying connect a tasering incident at the airport to the increased profile of the Vancouver real estate market, you really are reaching.
I blame the developers for not having the balls to buy more properties and exploit the middle class.
SRSLY?
Uh … even a shitty teardown in or near the city sell for a million plus - because that's just the lot value. A developer can't buy up a property for 1.1 mill, tear down, and build - then sell for a profit at "middle class" price ranges.
Available land for new development is very much limited because the metro area is surrounded by water, mountains and ALR lands. Access from point A to B is dotted with traffic bottlenecks and bridges. Not much to buy with reasonable access to d/t without paying a premium.
That's why Squish starts to look attractive and affordable.
When one person suffers from a delusion, it is called insanity.
When many people suffer from a delusion, it is called religion.
Uh … even a shitty teardown in or near the city sell for a million plus - because that's just the lot value. A developer can't buy up a property for 1.1 mill, tear down, and build - then sell for a profit at "middle class" price ranges.
Bullshit. Can so. They do. But they won't cut their margins right now and the labour market in BC is seriously constrained. They cannot get enough people to build right now.
Bullshit. Can so. They do. But they won't cut their margins right now and the labour market in BC is seriously constrained. They cannot get enough people to build right now.
examples or your point is worthless.
We don't know what our limits are, so to start something with the idea of being limited actually ends up limiting us.
Ellen Langer
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