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The Decline of Vancouver.

April 22, 2016, 1:48 p.m.
Posts: 20
Joined: Nov. 20, 2002

I bet a lot of them probably don't even know they are evading taxes because they barely speak the language and probably aren't familiar with our local tax rules.

They know exactly what their doing and we are letting them do it.

http://www.epiccyclist.com/

April 22, 2016, 1:50 p.m.
Posts: 1080
Joined: Feb. 5, 2011

… or that it took until now for people to realize that a town set in a spectacular fjord riddled with adventure options of every kind only 45 mins from the 2nd most expensive real estate in the world in one direction and one of the most famous and popular all season resorts 35 min the other way, had epic potential.

+1

When I first moved to the GVA I was really surprised that Squamish wasn't considered a desirable area to live in. On one hand it sucks that it is getting a lot more expensive but on the other I would say it is finally living up to its potential.

April 22, 2016, 3:43 p.m.
Posts: 11497
Joined: June 29, 2006

So true. Everyone back then thought this town was a Macca's stop on the highway (or just a general shit hole) and hindsight says that was the time to buy. Now it seems all of a sudden the thing to do is to roll into town and throw down big bucks on rent or houses, when not a damn thing has changed except the traffic (on roads, dirt, rocks and water) has gotten worse and more of our trails are built with a machine. I guess let's not forget a 2nd Timmys to add to that list. It's only dumb luck that I got in before the latest boom, so I'm not going to claim prescience. I'm not sure what boggles my mind more.. how people so willingly threw down $880K on a total shit-box with a tarp keeping it dry next to my buddy's house a few weeks back, or that it took until now for people to realize that a town set in a spectacular fjord riddled with adventure options of every kind only 45 mins from the 2nd most expensive real estate in the world in one direction and one of the most famous and popular all season resorts 35 min the other way, had epic potential.

Just wait to see how many people decide its a good time to move hear once the oceanfront starts to look like Granville Island (if the global economy doesn't collapse in the meantime). Not sure how I feel about that, as the golden age of nobody giving a shit about what you do in the woods with a chainsaw is over, and I'm sure more change for the worse is coming (along with some change for the better). I do feel very sorry for people who are getting squeezed out, as it's happening to some friends. Shitty thing is you don't get squeezed out to the burbs here, you get squeezed right out of the region. Hard to see how it's sustainable, but you guys have been thinking that for a decade in Van, so who the fuck knows. A mate saw a car load of Chinese looking guys in suits scouting a house for sale here yesterday. God help house prices here if the Chinese start thinking this is the new Richmond.

EDIT: Trailworker, I think you nailed it with your comment too.

For me what really stings is moving to Squamish was my plan since I moved to the Lower Mainland in 1999. Work keeps me close to Van but I grew up on the SSC and my wife in Whistler so it was a natural for us.

Fast forward to today and all I could afford to buy is a townhouse. I am renting right now until it is built and my landlords that claim to love us just jacked our rent by 25% from 1800 to 2250 and they think they are being kind because the agent that manages the rental (Century 21) told them they should jack it to 2500. How thoughtful. All anyone can get when renting are fixed term leases so that the landlords can skirt around the tenancy act. lucky for me I have an out, but the high rents are crushing some families and like you say, their only option is to move.

My landlord uses the basement as their weekend getaway and we just found out about the increase. Awkward encounters are coming.

April 22, 2016, 4:07 p.m.
Posts: 0
Joined: Oct. 5, 2006

I am renting right now until it is built and my landlords that claim to love us just jacked our rent by 25% from 1800 to 2250 and they think they are being kind because the agent that manages the rental (Century 21) told them they should jack it to 2500.

I'm pretty sure they cannot do that. The Residencial Tennancy Act limits rent increases to 2.5%, that's $45 in this case

Read this.

http://www2.gov.bc.ca/assets/gov/housing-and-tenancy/residential-tenancies/information-sheets/rent.pdf

Fraser Valley Mountain Bikers Assoc.

April 22, 2016, 4:20 p.m.
Posts: 8259
Joined: Nov. 20, 2002

I have heard 2 stories in the last month, of hard working couples finally pulling the trigger on buying a home, only to be outbid by tens of thousands of dollars, and have their dreams crushed. My question is, how the fuck did they save enough money to even consider buying???

Well, well I been movin' down to Florida.
And I'm gonna bowl me a perfect game.
Well I'm gonna cut off my leg down in Florida, child.
And I'm gonna dance one-legged off in the rain.

April 22, 2016, 4:51 p.m.
Posts: 8256
Joined: Nov. 21, 2002

I'm pretty sure they cannot do that. The Residencial Tennancy Act limits rent increases to 2.5%, that's $45 in this case

Read this.

http://www2.gov.bc.ca/assets/gov/housing-and-tenancy/residential-tenancies/information-sheets/rent.pdf

Fixed term. Tenancy ends on a fixed date and, beyond that, rent can then be adjusted to whatever the landlord wants to ask.

WTB Frequency i23 rim, 650b NEW - $40

April 22, 2016, 7:53 p.m.
Posts: 7566
Joined: March 7, 2004

I'm pretty sure they cannot do that. The Residencial Tennancy Act limits rent increases to 2.5%, that's $45 in this case

Read this.

http://www2.gov.bc.ca/assets/gov/housing-and-tenancy/residential-tenancies/information-sheets/rent.pdf

The rental market out here (abbotsford) is totally screwed now because of the real estate madness in the last few months. You cannot find a place under 2000/month anymore.
The house we rent was just sold, and we have a one year agreement with the new owner. When that year is up I would like to buy…but don't think I will be able to afford it now with the way it is going. There is a house just on the other side of townine by the kids school…it's listed for 680k. I cannot believe how many houses have sold just on our street in the last few months.

April 23, 2016, 10:18 a.m.
Posts: 11904
Joined: June 4, 2008

Is it legal to bare arms on bear arms in Squamish?

April 23, 2016, 10:39 a.m.
Posts: 33648
Joined: Nov. 19, 2002

Big bear.

Lot's of bears go through residential garbage or go near homes that are adjacent to the woods. Pretty ugly response.

It is easy to dodge our responsibilities, but we cannot dodge the consequences of dodging our responsibilities.
- Josiah Stamp

Every time I see an adult on a bicycle, I no longer despair for the future of the human race.
- H.G. Wells

April 23, 2016, 1:50 p.m.
Posts: 4010
Joined: Nov. 19, 2002

For me what really stings is moving to Squamish was my plan since I moved to the Lower Mainland in 1999. Work keeps me close to Van but I grew up on the SSC and my wife in Whistler so it was a natural for us.

Fast forward to today and all I could afford to buy is a townhouse. I am renting right now until it is built and my landlords that claim to love us just jacked our rent by 25% from 1800 to 2250 and they think they are being kind because the agent that manages the rental (Century 21) told them they should jack it to 2500. How thoughtful. All anyone can get when renting are fixed term leases so that the landlords can skirt around the tenancy act. lucky for me I have an out, but the high rents are crushing some families and like you say, their only option is to move.

My landlord uses the basement as their weekend getaway and we just found out about the increase. Awkward encounters are coming.

The housing prices in squamish are outrageous! 900k for a 1970s split level home in the highlands! Im happy with my two bedroom condo (with ample parking)and a cabin out in the Bridge river valley.

My buddy purchased a 3 bed townhome in the eaglewind complex, nice place! No parking! The parking they do have there currently will soon be finished as the next phase of construction is set to begin. They expect you to park in your garage and if you have any sort of Toys (Which is why people live there) There is no way in hell you can.

People seem to forget that Squamish had a boom and bust not too long ago in 2012. There is still remnants of this if you look close enough.

http://vancouvercondo.info/2012/03/squamish-and-the-haunted-sales-centers.html

https://vreaa.wordpress.com/2012/07/16/a-friend-is-leaving-squamish-and-has-to-sell-but-not-a-single-viewing-they-are-looking-at-drastic-price-reductions-below-their-existing-mortgage-or-holding-it-as-a-rental-until-the-mark/

April 23, 2016, 5:11 p.m.
Posts: 809
Joined: Dec. 22, 2002

The deal with Squamish: the rental rates to mortgage value is pretty sweet, so potential buyers know they can get top dollar for the income suite. Why? Lots of people in S2S corridor don't have jobs the banks like to give mortgages too (ie most your income is tips at the Longhorn etc). So they are all looking and the supply isn't there due to the flood plain, and limited buildable area, and all the other renters they have to compete with.

So the property values keep going up b/c you know a big chunk of the mortgage can be paid by the local renters. This will keep Squamish pretty recession proof for the foreseeable future.

NSMBA member.

April 23, 2016, 5:25 p.m.
Posts: 0
Joined: Dec. 27, 2002

You'd think by this point people would start saying ' you know I think these homes are overpriced, maybe we should back off'. But no the fools keep rushing in. Fools with no capital and huge bank loans

April 23, 2016, 5:45 p.m.
Posts: 6449
Joined: Nov. 19, 2002

Fools with no capital and huge bank loans

I think the low interest rates make alot of people feel more comfortable taking a big mortgage when they shouldn't be. With the panic of high rent and housing shortages, even if people don't have a good income they can likely find an alternative lender who is going to lend to them and charge prime plus 3-4% (for the time being) which still doesn't seem too bad compared to interest rates in the distant past..you can justify anything if you're desperate enough. Just wait until prime floats back up to 4-5% at some point in the future and those people are paying close to 10% interest or more, then shit'll really hit the fan. Either that or the shady alternative lenders are going to be breaking alot-a-legs.

April 23, 2016, 6:04 p.m.
Posts: 15546
Joined: May 29, 2004

I think the low interest rates make alot of people feel more comfortable taking a big mortgage when they shouldn't be. With the panic of high rent and housing shortages, even if people don't have a good income they can likely find an alternative lender who is going to lend to them and charge prime plus 3-4% (for the time being) which still doesn't seem too bad compared to interest rates in the distant past..you can justify anything if you're desperate enough. Just wait until prime floats back up to 4-5% at some point in the future and those people are paying close to 10% interest or more, then shit'll really hit the fan. Either that or the shady alternative lenders are going to be breaking alot-a-legs.

….or guys like me are going to buy a few foreclosures for pennies on the dollar.

What my parents did in the early 80's and did quite well reselling in the late 80s

April 23, 2016, 6:09 p.m.
Posts: 18069
Joined: Oct. 28, 2003

My question is, how the fuck did they save enough money to even consider buying???

Its called spending less than you earn.

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