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Housing 'bubble' in Vancouver

Housing 'bubble' in Vancouver

Old May 6th 2015, 8:28 am
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by Jsmth321
I had no idea low income folks in shared use buildings are segregated from the market rent and have to use a different entrance in some buildings.

Suppose the poor are too dirty to mingle with the wealthy who can buy.


Social housing to have separate entrance to Vancouver high-rise - British Columbia - CBC News
The UK media have been trying to whip up a frenzy over so called "poor doors". However, I think it's a necessary commercial compromise in a mixed use building.
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Old May 6th 2015, 9:14 am
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by Shard
The UK media have been trying to whip up a frenzy over so called "poor doors". However, I think it's a necessary commercial compromise in a mixed use building.
I had no idea they even existed. We are in a mixed use, but its all rental, so they don't segregate.

Not sure why people just can't all manage to get along.


I am starting to think an old motor home + Wal-Mart parking lot is the way to go. lol

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Old May 6th 2015, 9:53 am
  #153  
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by Jsmth321
I had no idea they even existed. We are in a mixed use, but its all rental, so they don't segregate.

Not sure why people just can't all manage to get along.


I am starting to think an old motor home + Wal-Mart parking lot is the way to go. lol
Quite common in the UK. Speaking of which, here's an unaffordability article so you don't feel it's only Vancouver!

Average first-time buyer needs £41,000 salary - Telegraph
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Old May 6th 2015, 9:59 am
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by Shard
Quite common in the UK. Speaking of which, here's an unaffordability article so you don't feel it's only Vancouver!

Average first-time buyer needs £41,000 salary - Telegraph
Its an issue in many places of the developed world. My siblings in So. California have the housing cost issues.

Lower then Vancouver, but still a median of 500,000. The loss of value in the 2008 housing bubble have largely be gained, my dads went from 650,000 in 2006 to 345,000 in 2010, up to 540,000 now.

Median rent in the region is 2,045 per month now.

To own you need a household income of nearly 100,000 US.

Median household income is 62,000 approx.

Home ownership is just around 53%, so fewer and fewer people are owning.

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Old May 6th 2015, 3:29 pm
  #155  
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by Jsmth321

I am starting to think an old motor home + Wal-Mart parking lot is the way to go. lol

I think Walmart have stopped allowing 'camping' in their car parks, certainly in Canada anyway.

You still see one or two (eg at Abbotsford), but when we first moved to Abbotsford they used to occupy about 1/4 of the car park!
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Old May 6th 2015, 3:38 pm
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Default Re: Housing 'bubble' in Vancouver

I hate the idea of poor doors.
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Old May 6th 2015, 3:41 pm
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by withabix
I think Walmart have stopped allowing 'camping' in their car parks, certainly in Canada anyway.

You still see one or two (eg at Abbotsford), but when we first moved to Abbotsford they used to occupy about 1/4 of the car park!
It depends on who owns the lot, Wal-Mart leases a lot of the lots and stores they occupy and even when they are not leased the store manager has discretion.

The local store here still permits it in the back, the size of the lot Wal-Mart has here is oddly big for such a small town....

Only time I have seen them not permit it is during the music festival weekend in August.

It does vary by store though as to it being allowed or not.


I was just being goofy about a motor home anyhow, by the time you add in insurance and gas, likely saves no money.

There really is no solution to high housing, just gotta find a 2nd and 3rd job....lol
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Old May 6th 2015, 3:43 pm
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Default Re: Housing 'bubble' in Vancouver

It baffles me how people make ends meet, both here and in the UK.

Either people have an enormous amount of debt or they're doing without ....or both.
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Old May 6th 2015, 3:46 pm
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by humanist
It baffles me how people make ends meet, both here and in the UK.

Either people have an enormous amount of debt or they're doing without ....or both.
Generally it's large debt serviced by one or two incomes, and/or rental property income.
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Old May 6th 2015, 3:50 pm
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by ExKiwilass
I hate the idea of poor doors.
Nobody want's to live with the poor/low income. Not just poor in social housing any more though.

Income cut off for social housing is dependent on the housing size, but varies from 36,500 to 62,000 in Vancouver.

Abbotsford is 25,500 to 51,000

Depends on what size housing you need and family size and composition.

BC Housing - Income requirements
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Old May 6th 2015, 5:06 pm
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Default Re: Housing 'bubble' in Vancouver

Issues about where doors are and how high real estate prices might go will become irrelevant when (not if) Vancouver is hit by a massive earthquake. There's plenty of information on that available and we've all seen the huge amount of damage quakes have done in recent years at other places around the Pacific rim. Vancouver is right in line physically and temporally for a major earthquake arising from the pressure between the tectonic plates forming the Cascadia Subduction Zone. I expect that this would have a fairly significant effect on the housing bubble.
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Old May 6th 2015, 5:22 pm
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by leith
Issues about where doors are and how high real estate prices might go will become irrelevant when (not if) Vancouver is hit by a massive earthquake. There's plenty of information on that available and we've all seen the huge amount of damage quakes have done in recent years at other places around the Pacific rim. Vancouver is right in line physically and temporally for a major earthquake arising from the pressure between the tectonic plates forming the Cascadia Subduction Zone. I expect that this would have a fairly significant effect on the housing bubble.
There is only a 10 to 15 per cent chance of a mega-earthquake hitting the northern segment of the Cascadia Subduction Zone at some point during the next 50 years. So housing prices may remain high for a while yet.
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Old May 6th 2015, 5:31 pm
  #163  
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by leith
Issues about where doors are and how high real estate prices might go will become irrelevant when (not if) Vancouver is hit by a massive earthquake. There's plenty of information on that available and we've all seen the huge amount of damage quakes have done in recent years at other places around the Pacific rim. Vancouver is right in line physically and temporally for a major earthquake arising from the pressure between the tectonic plates forming the Cascadia Subduction Zone. I expect that this would have a fairly significant effect on the housing bubble.
or maybe it will happen somewhere no one expects, like Edmonton.

Christchurch wasn't supposed to be on a faultline...yet here we are.
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Old May 6th 2015, 6:25 pm
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Default Re: Housing 'bubble' in Vancouver

Originally Posted by leith
Issues about where doors are and how high real estate prices might go will become irrelevant when (not if) Vancouver is hit by a massive earthquake. There's plenty of information on that available and we've all seen the huge amount of damage quakes have done in recent years at other places around the Pacific rim. Vancouver is right in line physically and temporally for a major earthquake arising from the pressure between the tectonic plates forming the Cascadia Subduction Zone. I expect that this would have a fairly significant effect on the housing bubble.
Why do people obsess over the possible earthquake in Vancouver? It could happen in Seattle or San Francisco or LA.

San Francisco and LA have not exactly had long term issues, and SF has had 2 major quakes in less then 100 years, and its still one of the priciest city's to live in with high housing.


I know full well the west coast of North America will be hit with a big one at some point, and no reason to sit and worry, if it happens it happens, but we all may be dead before it happens so why worry?

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Old May 6th 2015, 8:25 pm
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Default Re: Housing 'bubble' in Vancouver

Vancouver House condominiums snapped up by foreign buyers - British Columbia - CBC News



Why are we building housing just so foreign investors can buy them, and likely sit on them and not even rent them out.
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