The Decline of Vancouver.
Wooo 43% increase! pretty much no matter what happens I'll be ahead on the mortgage, I really can't see prices tumbling down that much.
Posted by: Adam-West
Wooo 43% increase! pretty much no matter what happens I'll be ahead on the mortgage, I really can't see prices tumbling down that much.
Peasant life here in N.Van with only a 22% increase.
your 22% increase is probably worth more than my entire house.
A realtor came and knocked on my front door last fall saying he had a buyer lined up for my place which is total BS. He asked if was interested in selling so I said yes, gave him a number that was twice my place was worth. He was all confused, I said why would I sell? So I can compete with everyone blind bidding, be homeless? Then let him know I thought the realtor industry. What a wanker
Last edited by: bux-bux on Jan. 6, 2022, 2:33 p.m., edited 2 times in total.
Posted by: bux-bux
A realtor came and knocked on my front door last fall saying he had a buyer lined up for my place which is total BS. He asked if was interested in selling so I said yes, gave him a number that was twice my place was worth. He was all confused, I said why would I sell? So I can compete with everyone blind bidding, be homeless? Then let him know I thought the realtor industry. What a wanker
I've heard many people say "I could sell my house but where would I buy locally?"
Posted by: aShogunNamedMarcus
Posted by: bux-bux
A realtor came and knocked on my front door last fall saying he had a buyer lined up for my place which is total BS. He asked if was interested in selling so I said yes, gave him a number that was twice my place was worth. He was all confused, I said why would I sell? So I can compete with everyone blind bidding, be homeless? Then let him know I thought the realtor industry. What a wanker
I've heard many people say "I could sell my house but where would I buy locally?"
Exactly... Then spend 1/2 years on rent trying to find the right place? No thanks. A coworker is in this situation, there is nothing out there.
Posted by: bux-bux
Posted by: aShogunNamedMarcus
Posted by: bux-bux
A realtor came and knocked on my front door last fall saying he had a buyer lined up for my place which is total BS. He asked if was interested in selling so I said yes, gave him a number that was twice my place was worth. He was all confused, I said why would I sell? So I can compete with everyone blind bidding, be homeless? Then let him know I thought the realtor industry. What a wanker
I've heard many people say "I could sell my house but where would I buy locally?"
Exactly... Then spend 1/2 years on rent trying to find the right place? No thanks. A coworker is in this situation, there is nothing out there.
It's a messed up situation when you can sell a house for 2+ million and have to consider a condo as your main option. Nothing against condos other than lack of your own yard which is big for most of us.
Come on lottery! Wheeee
Or y'all could gtfo of Vancouver?
Worldwide pandemic and Vancouver home sales hit record high last year.
Only way things will get fixed is for interest rates to go up to where they should be. Unfortunately that would induce a huge amount of hurt for a lot of people.
I might be a bit daft, but I just got a new mortgage for 5 years, and if interest rates rise to like 80's levels can the bank raise my interest rate or is it only for new mortgages?
I feel like they can't but probably would cause the little guy always gets fucked.
Posted by: Adam-West
I might be a bit daft, but I just got a new mortgage for 5 years, and if interest rates rise to like 80's levels can the bank raise my interest rate or is it only for new mortgages?
I feel like they can't but probably would cause the little guy always gets fucked.
depends if it's a fixed or variable rate. The Fed makes sure interest rates are as low as possible and I don't think it will ever go to 80's level as 90% of the mortgages out there will go into foreclosure. The financial experts are saying some interest rate hikes in 2022 and possible 2023 to fight inflation but they aren't going up 15%.
Ya it's "5 year fixed" I think I'm sitting pretty with 2.5% They're definitely going to have to raise rates yeah, and I agree that it wont go to that extreme due to the ramifications that would do to the millions of people that apparently are 200 bucks a a month away from being bankrupt.
I don' think they can change your rate if you are locked in. If it's a variable rate mortgage, then the rate could rise and fall. I don't think the mortgage rates will rise dramatically. So many people that are in over their heads would have to walk away, then the banks would have all these houses on their hands. I know someone who is a process server on behalf of a legal firm. He says he has never been busier serving people who owe money & have not been making the payments. He said the amount of folks over-extending themselves financially is huge.
Last edited by: Stuminator on Jan. 7, 2022, 10:42 a.m., edited 1 time in total.
Late fall we signed a 5yr fixed at 1.79%. They can't change your fixed rate.
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