DonLever Posted January 30, 2016 Share Posted January 30, 2016 From CTV: http://www.ctvnews.ca/business/knockdown-bargain-what-a-2-4m-vancouver-teardown-looks-like-1.2757939 It is located in Point Grey, Vancouver. What can you say? It looks like a P.O.S. More politely, a rundown shack. Of course, the value is in the land. Link to comment Share on other sites More sharing options...
WHL rocks Posted January 30, 2016 Share Posted January 30, 2016 Not for long, market will to turn soon, we need a major correction and it's on it's way. The sooner the better. Link to comment Share on other sites More sharing options...
PhillipBlunt Posted January 30, 2016 Share Posted January 30, 2016 This city has changed so drastically as far as population, I barely recognize the place. When I was a kid growing up in South Vancouver, the neighborhoods were the United Nations. It was awesome. I grew up in an Irish household on the corner lot. And grew up listening to Indian, Hawaiian, Quebecois, Afghani, Japanese, German, Russian, Chinese, and, Italian. Now that diversity is gone. Completely absent. Link to comment Share on other sites More sharing options...
slickjim23 Posted January 30, 2016 Share Posted January 30, 2016 11 minutes ago, PhillipBlunt said: This city has changed so drastically as far as population, I barely recognize the place. When I was a kid growing up in South Vancouver, the neighborhoods were the United Nations. It was awesome. I grew up in an Irish household on the corner lot. And grew up listening to Indian, Hawaiian, Quebecois, Afghani, Japanese, German, Russian, Chinese, and, Italian. Now that diversity is gone. Completely absent. Bought up by the Chinese or what? Haven't been back home in Van for a long time. Link to comment Share on other sites More sharing options...
PhillipBlunt Posted January 30, 2016 Share Posted January 30, 2016 Just now, slickjim23 said: Bought up by the Chinese or what? Haven't been back home in Van for a long time. Much less diverse and more so catering solely to the highest bidder. Link to comment Share on other sites More sharing options...
Honeydew Posted January 30, 2016 Share Posted January 30, 2016 And there goes our market folks! Link to comment Share on other sites More sharing options...
nuckin_futz Posted January 30, 2016 Share Posted January 30, 2016 http://www.crackshackormansion.com/ Link to comment Share on other sites More sharing options...
CBH1926 Posted January 30, 2016 Share Posted January 30, 2016 What goes up must come down, Vancouver market has been overpriced for years. Link to comment Share on other sites More sharing options...
riffraff Posted January 30, 2016 Share Posted January 30, 2016 You're dreaming if you think it's going to come down. This city and country for that matter is pimped right out...sold out people! somebody(s) making money and it's not you. Link to comment Share on other sites More sharing options...
Nuxfanabroad Posted January 30, 2016 Share Posted January 30, 2016 Small world..a while back I shared that bsmt suite with some of my tribe. Glad they've finally spruced it up! Link to comment Share on other sites More sharing options...
thejazz97 Posted January 30, 2016 Share Posted January 30, 2016 And meanwhile my parents bought an acreage about 100m away from Hwy 1 with a house on it for $400ish grand... Link to comment Share on other sites More sharing options...
mpt Posted January 30, 2016 Share Posted January 30, 2016 3 hours ago, CBH1926 said: What goes up must come down, Vancouver market has been overpriced for years. 7 hours ago, WHL rocks said: Not for long, market will to turn soon, we need a major correction and it's on it's way. The sooner the better. As long as rich people continue to be rich, the housing market in Vancouver won't be changing Link to comment Share on other sites More sharing options...
aGENT Posted January 30, 2016 Share Posted January 30, 2016 8 hours ago, WHL rocks said: Not for long, market will to turn soon, we need a major correction and it's on it's way. The sooner the better. There will likely be a slight down turn/correction soon but if you think prices are ever coming back down to 'affordable for the common man', you're delusional. Vancouver real estate is expensive. Get used to it. Link to comment Share on other sites More sharing options...
Hairy Kneel Posted January 30, 2016 Share Posted January 30, 2016 I read somewhere homes aren't homes anymore just stock investments with rich corporations own and no one actually lives there. Link to comment Share on other sites More sharing options...
wshdrvvn Posted January 30, 2016 Share Posted January 30, 2016 gentrification Link to comment Share on other sites More sharing options...
Dittohead Posted January 30, 2016 Share Posted January 30, 2016 The 1st rule in Real estate. Location,Location,Location. Vancouver is a place where people from all over the world want to live. I bought my 1st place a condo in the late 90's with no money down for 82K sold it for 92k a few years later bought another duplex for 180k with 10% down sold it for 360k after a divorce a few years later, bought a mobile home and made no money on that pos should of rented but oh well never buy a mobile home, sold it and bought a house 1.5 years ago on an acre for 585K with 10% down and it's now worth 650k or more. Link to comment Share on other sites More sharing options...
ckamo Posted January 30, 2016 Share Posted January 30, 2016 Like DonLever said, the value is in the land, so I don't know why news outlets keep reporting this kind of thing. Is anyone actually surprised? Nobody from the area should be, that's for sure. 1 minute ago, wshdrvvn said: gentrification Does it really count as gentrification if it's in Point Grey? Link to comment Share on other sites More sharing options...
wshdrvvn Posted January 30, 2016 Share Posted January 30, 2016 1 minute ago, ckamo said: Like DonLever said, the value is in the land, so I don't know why news outlets keep reporting this kind of thing. Is anyone actually surprised? Nobody from the area should be, that's for sure. Does it really count as gentrification if it's in Point Grey? haha if it counted in brooklyn, it counts in point grey! Link to comment Share on other sites More sharing options...
Ghostsof1915 Posted January 30, 2016 Share Posted January 30, 2016 The price of Real Estate is higher here than in places like Hawaii and California. It is overpriced. There will be a correction. Because unless people are coming to retire here (And they are not), it's a house of cards. There's a finite amount of people with money. If economies start to tumble so will our housing market. Australia has the right idea in putting restrictions for foreign ownership. Maybe because there they understand the housing market isn't for investment, it's for people to live and work. Link to comment Share on other sites More sharing options...
Electro Rock Posted January 30, 2016 Share Posted January 30, 2016 41 minutes ago, Ghostsof1915 said: The price of Real Estate is higher here than in places like Hawaii and California. It is overpriced. There will be a correction. Because unless people are coming to retire here (And they are not), it's a house of cards. There's a finite amount of people with money. If economies start to tumble so will our housing market. Australia has the right idea in putting restrictions for foreign ownership. Maybe because there they understand the housing market isn't for investment, it's for people to live and work. Not sure about Hawaii but California cities seem be even more expensive when comparing desirable areas at least. The only thing that makes Vancouver different from other expensive cities is that the average income is considerably lower, a reflection of the fact that Vancouver's {legitimate} regional economy is just pathetic for a city of its size. Link to comment Share on other sites More sharing options...
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