The Decline of Vancouver.

I wonder how this will impact crime. Will Self-Driving cars have a "Getaway Car Mode" and "Drive By Shooting Setting"? How about "Wild Car Chase with option to Ram Way Through Police Blockade". How about a compartment that opens up and extends a boxing glove on a spring as an optional "Road Rage" Plugin.

I'm looking forward to some spook-agency's flawed AI algorithm putting me on some sort of list and having the car stop and a bunch of mean looking dudes in black swarming me…

I'm looking forward to some spook-agency's flawed AI algorithm putting me on some sort of list and having the car stop and a bunch of mean looking dudes in black swarming me…

You can add this to your options package … just be careful which button you press when rolling up to pick up the wife/kids etc.

Back to the problem at hand.

http://www.sfu.ca/content/dam/sfu/mpp/pdfs/Vancouver%27s%20Housing%20Affordability%20Crisis%20Report%202016%20Final%20Version.pdf

Taken together, we have the following case. Beginning in the 1980s, Canadian governments
effectively began to encourage large transfers of wealth from abroad into the Vancouver real estate
market. These flows of wealth increased the demand for housing in Vancouver, especially singledetached
housing which was popular among wealthy migrants. This allowed prices to rise above
what local incomes could justify, even in these early days. Gradually this program expanded, bringing
in roughly 8-9 percent of the region’s population by 2012 and somewhat more until it was canceled
in 2014. Locals, who were forced to compete with this outside wealth for prime housing, were thus
forced to pay above what they would have had to had this not been the case. As a result, housing
prices and incomes became “un-coupled”, generating relatively high price to income ratios well
before the 2010s. This dynamic intensified greatly in the last few years for three reasons. First, China
has become much wealthier as its economy has grown dramatically in recent decades, and a long
build-up in the property market in Hong Kong (see Table 3) allowed residents there to ‘cash out’
and buy housing here. Second, people with this increased purchasing power in China have had
stronger incentives to move abroad since the start of Xi Jinping’s tenure in 2012, since he has vowed
to crack down on corruption (which can sometimes be aimed capriciously).28 Third, many elite
citizens in China fear that the economic foundations of the country are unstable, and this has
produced a massive rush of wealth out of the country in the past year or so. It is this surge in foreign
demand that has led Vancouver housing prices to become so detached from, and unaffordable to,
local incomes. In addition, this continuous flow of money from abroad, combined with inaction and
disinterest on the part of Canadian governments, has created expectations of continuously rising
prices, which has only served to intensify the demand pressures, in this case from locals who seek to
‘jump in’ to the housing market even on very disadvantageous terms.

30% increase year over year … that's some crazy shit right there.

http://www.cbc.ca/news/canada/british-columbia/vancouver-real-estate-house-prices-1.3564528

30% increase year over year … that's some crazy shit right there.

http://www.cbc.ca/news/canada/british-columbia/vancouver-real-estate-house-prices-1.3564528

There is inventory out there if you know where to look

"City of Vancouver seeks public opinion on empty homes"

The problem is that (anecdotally, from the few stories I've read) the folks buying these mixer mortgage things are usually young couples and highly leveraged. Truly insane. Imagine when kids come along, divorces, job loss/moves, sickness.

I still haven't been convinced with what is wrong with renting and saving money in a balanced portfolio. There's a huge premium on ownership in Vancouver right now and has been for a while, especially detached and townhouses. Of course there are advantages to ownership but people make it seem like it's their life purpose… scary times.

I guess when shit hits to fan you sell it and hope you managed to get some equity.

As for renting it depends on where you are, what your timing is like and what you want from your home, but the problem I always see with what you are saying is that your rent will always go up so those savings will disappear with time. In a market like we have today your rent might cost more than a mortgage within a few years. Not to mention all the bullshit dealing with landlords, not being able to do anything to your place without getting permission, and inspections. With all the crap I have dealt with lately I think I would rather lose money than rent.

There is inventory out there if you know where to look

"City of Vancouver seeks public opinion on empty homes"

That sweet entry with ramparts is worth 500G alone. My archers would take care of any riff raff PDQ.

I used to smoke crack in that house.

I used to smoke crack in that house.

I still do but I used to too.

I still do but I used to too.

I'm against picketing, but I don't know how to show it.

That sweet entry with ramparts is worth 500G alone. My archers would take care of any riff raff PDQ.

Put your "tag" on it, and its yours, yo!

and so the market is now up 30% since this thread was posted.

Crazy

As for the rental crunch in Squamish the council needs to get the developers to build rental only apartments. They can do this when they are seeking approvals for their variious projects.

Here you go… http://www.squamishchief.com/news/local-news/apartment-buildings-planned-downtown-1.2246758

Not sure I agree that 100% should be rentals, as that's not the best way to mix demographics. Personally I'd rather see mixed use in that area with (minimal) commercial, and the rest split between owner occupier and rentals. Actually, I suspect the district may end up asking for some mixed use there, as the site is currently zoned industrial and I remember reading a while back that the district favors mixed use in downtown.

Here you go… http://www.squamishchief.com/news/local-news/apartment-buildings-planned-downtown-1.2246758

Not sure I agree that 100% should be rentals, as that's not the best way to mix demographics. Personally I'd rather see mixed use in that area with (minimal) commercial, and the rest split between owner occupier and rentals. Actually, I suspect the district may end up asking for some mixed use there, as the site is currently zoned industrial and I remember reading a while back that the district favors mixed use in downtown.

Ya I read that this morning. It's a good start. This is just one building anyway and it will be right next to the Oceanfront development which I suspect will have a lot of empty nesters to add some grey hair to the Squamish mix.