The Decline of Vancouver.

Wives are one of the causes of the rapid rise in housing prices.

Yep, emotional buying for sure.

Bunch of folks at work are cashing out now. These are guys in their 50's with homes on the west side and north shore looking to get $3M+ and downsize or rent for a while. And yes, they are all having trouble convincing the wife.

I dont get it… Vancouver is great and all but fuck me there's some sweet spots in BC if you like mtb and skiing etc.. that are much better.

We tried to get guys to move north, 3 of them came up looked around, probably would have come but their wives wouldn't move so IBM had to hire a new guy which kind of defeated the purpose of the whole exercise which was to reduce head count

Yes the wife, I moved north to get away from her, I often give silent thanks that she threw me out early enough to financially recover

We tried to get guys to move north, 3 of them came up looked around, probably would have come but their wives wouldn't move so IBM had to hire a new guy which kind of defeated the purpose of the whole exercise which was to reduce head count

Yes the wife, I moved north to get away from her, I often give silent thanks that she threw me out early enough to financially recover

Northern BC is the promised land, but there is little oppourtunity for making a living up there. Even less than Vancouver. Gotta get lucky and be in the right place and at right time I guess.

I dont get it… Vancouver is great and all but fuck me there's some sweet spots in BC if you like mtb and skiing etc.. that are much better.

the cashout appeal is certainly growing, but we're spoiled by the amenities and haven't (yet) found that perfect alternative. like the ssc, but no snowboarding; nelson is funky, but in the middle of nowhere (and no year-round mtb)… squampton is looking more appealing as it's becoming less of a cultural black hole, though r/e pricing is getting up there. pemby is cute, if not a bit secluded… what other places would you potential cash-out-ers contemplate?

I dont get it… Vancouver is great and all but fuck me there's some sweet spots in BC if you like mtb and skiing etc.. that are much better.

For some people, the only work opportunities are in the bigger cities. One day I will move to one of those sweet(er) spots.

Northern BC is the promised land, but there is little oppourtunity for making a living up there. Even less than Vancouver. Gotta get lucky and be in the right place and at right time I guess.

true, but if you got 3 million you could buy a house in town for 300K and a ski cabin for 200K or maybe a house on Tyee lake for 700K, may not have to work much if at all

Also you just need to move out of Van you don't need to move this far north so how about Vernon or
Kamloops?

guys who can commute by computer have it going on

Yep, emotional buying for sure.

Bunch of folks at work are cashing out now. These are guys in their 50's with homes on the west side and north shore looking to get $3M+ and downsize or rent for a while. And yes, they are all having trouble convincing the wife.

Pay off the mortgage, use equity to repair or renovate to your liking (optional), then live tax-deferred in your home until you die. 100,000 old Italian guys can't be wrong. Renting could still cost you an arm and a leg - there is also a shortage of rental housing. Downsizing? End up paying outrageous condo fees, assessments for repair of shoddy construction and douchebag, in-your-face neighbors that you will never be rid of that you can hear through the walls for the rest of your life.

"Don’t get emotional about real estate. They’re boxes. Big boxes, small boxes. What’s important is how many boxes you have."

http://www.rottentomatoes.com/m/99_homes/

the cashout appeal is certainly growing, but we're spoiled by the amenities and haven't (yet) found that perfect alternative. like the ssc, but no snowboarding; nelson is funky, but in the middle of nowhere (and no year-round mtb)… squampton is looking more appealing as it's becoming less of a cultural black hole, though r/e pricing is getting up there. pemby is cute, if not a bit secluded… what other places would you potential cash-out-ers contemplate?

nelson is the one for me. far from all the crap sounds good to me! and I hear that the skiing and biking sucks.

yeah so there is no year round mtn biking cuz you are skiing

If you're close to a major center it will aspenize/whistlerize/vancoverize the place where you live which is why you had to move there to begin with

Being in the middle of no where is perfect cuz it keeps the riff raff out … and in

This is the key here.

There are precisely 0 local developers that will pay even half that for the site.

Wall is a builder, this land sale probably netted him more profit than going ahead with the entire development.

If this continues, there wont even be developable land left in Vancouver to build on unless you're looking at $3000+ Sq/ft.

Same stories have been floating around lots in Metrotown. Random holding Co's coming in and throwing bids at 2-3 times what local developers need to buy at to justify building.

Can't wait until this becomes a bit more mainstream and people actually realize what were allowing.

Awesome.

This deal was also structured in such a way that the parties involved didnt pay a penny of the $3.8 million in property transfer taxes. So much for contributing to the economy.

The great white tax haven

This deal was also structured in such a way that the parties involved didnt pay a penny of the $3.8 million in property transfer taxes. So much for contributing to the economy.

You're kidding. Source?

You're kidding. Source?

http://app.scmp.com/scmp/mobile/index.html#/article/1937267/desktop