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Vancouver Property Petitition

Vancouver Property Petitition

Old May 25th 2015, 6:10 am
  #226  
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Default Re: Vancouver Property Petitition

Originally Posted by scilly View Post
the name is SCILLY

I don't appreciate your mis-spelling, but hope it was accidental
Apologies, scilly, I just saw this. I know what your handle is, I think my iPad must have been "autocorrected" and I didn't check in until now. It was definitely not intentional - I never even thought of that!

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Old May 25th 2015, 6:17 am
  #227  
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Default Re: Vancouver Property Petitition

Originally Posted by ExKiwilass View Post
you're new here. maybe, take some time to get to know this place first. and yes, i do think there is jealousy and racism underlying a lot of the foreign buyer bashing in teh press here.
Judging from another thread, this place is made up of some critics, jerks and otherwise, some very nice people.

I think I made the wrong decision deciding to join and post, it was much more pleasant to read once in a while.

And as to your points, for sure, I could be wrong - I don't discount that, and read widely on the issues, but I also think that there are valid issues as well. But yes for sure I care because I find the prices astronomical and that hurts my pocket and ability too.

Have a great night, guys, and again, for scilly, that wasn't the intention at all before.
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Old May 25th 2015, 8:34 am
  #228  
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Default Re: Vancouver Property Petitition

Originally Posted by Jsmth321 View Post

What do people do unless you want many services to go away, when rents, owning, and pretty much all forms of housing are unavailable to those not in the higher income groups?

We are moving in with MIL in January, we simply cannot afford our rent, and there is nothing cheaper in town, joys of high cost of housing.
desperate measures in desperate times ! I suppose that is what people do, share space.
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Old May 25th 2015, 4:22 pm
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Default Re: Vancouver Property Petitition

don't give up on us yet June. Stick around
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Old May 25th 2015, 4:22 pm
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Default Re: Vancouver Property Petitition

Originally Posted by Shard View Post
desperate measures in desperate times ! I suppose that is what people do, share space.
we did in the beginning - bought & split a tiny (1800 sq ft) house with friends.
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Old May 25th 2015, 4:26 pm
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Default Re: Vancouver Property Petitition

Originally Posted by ExKiwilass View Post
we did in the beginning - bought & split a tiny (1800 sq ft) house with friends.
How many salaries servicing the mortgage, and what was the house like? Duplex, basement-suite or true house share?
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Old May 25th 2015, 4:27 pm
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2 levels (top flloor and ground floor suite) , 4 salaries servicing the mortgage.
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Old May 25th 2015, 4:36 pm
  #233  
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Default Re: Vancouver Property Petitition

A good strategy if you can all agree and everyone stays employed. Sounds like it worked.
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Old May 25th 2015, 4:38 pm
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Default Re: Vancouver Property Petitition

it did. We're not the only ones that did this too, there are a few houses split like this around here.
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Old May 25th 2015, 4:45 pm
  #235  
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Default Re: Vancouver Property Petitition

It used to be quite common in London for first time buyers, typically 2 friends, to buy 2-3 bedroom flat for a few years and flatshare until one was able to buy the other out or move on. Not sure now, quite a restricted mortgage market after the 2008 crash.
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Old May 25th 2015, 5:14 pm
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Default Re: Vancouver Property Petitition

yeah, it's one way around the crazy prices. We had a legal agreement in place - drawn up by an RE lawyer. It covered what would happen in various circumstances i.e. one wants to move and the other doesn't, etc. IT did come in handy. In the end we ended up buying out the other 2 at market rate.
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Old May 26th 2015, 12:29 am
  #237  
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Default Re: Vancouver Property Petitition

Originally Posted by Shard View Post
desperate measures in desperate times ! I suppose that is what people do, share space.
Temporary measure to allow us to save money so we can relocate somewhere else in BC, its simply not viable living in a high rental (which is really low for the market, but above our affordability level) and saving the money we need.

Just did the monthly budget, we have 140 left for the month after essentials are paid and debt is services, excluding gas and food, so its not 140 savable dollars since we need both gas and food.


If we had friends or family to buy with, that would be ideal and I have no issue doing something like that since it would be the only viable way to do so, but I don't have friends here or family, and my wife's brother and his long time girlfriend are financially well off, and are buying on their own since they do have the income to do so.

Her friends already have kids, and growing family and already bought their houses.

It's a good idea and would be something we would be willing to do with someone or a couple people we know, but not the risk taker to try it with a complete stranger from the internet.

My step sister and sister looked into doing it, but because basements are none existent in most houses there, they could not find a house large enough to accommodate 4 adults and 6 kids and still within their price range.

While houses in San Diego are lower then Vancouver, wages tend to be lower as well, so it's just as hard there to own first time and condos are mostly only built downtown which isn't the best place to live unless you work downtown.

Too much land still to get developers to build densely outside of the downtown core.


There is a rental group online for people looking for rentals or offering in town, and its like 5 ti 1 ratio of looking for and offering posts, and people downright desperate.

2 fold issue in Squamish, high rents but no availability so even if you afford the rent, its impossible to find something at the moment.

Our complex alone the manager said he has 20 on the wait list, and the subsidized units are pushing a 100 person wait list.

56 market rentals (now 950 per month 1 bed) and 30 subsidized rentals.


Never thought I'd see the day when renters are going to West and North Vancouver to rent because its cheaper or the same price and they can find a place and then commute to Squamish.

Home owners who can't afford to buy in Vancouver area are buying here, and pushing the renters out of town.

There is a push for dedicated rental housing, but nobody want's to build it.

This town is not going to have service workers if they can't provide the housing those workers need, already harder and harder for retail, hotels, fast food to find workers, almost becoming a shortage of workers at those wages, but they are all crappy jobs paying low wages.
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Old May 26th 2015, 10:43 am
  #238  
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Default Re: Vancouver Property Petitition

Originally Posted by Jsmth321 View Post
Temporary measure to allow us to save money so we can relocate somewhere else in BC, its simply not viable living in a high rental (which is really low for the market, but above our affordability level) and saving the money we need.

g low wages.
Yeah 'temporary measure' is a better word. I think it's a great plan considering the share of your paycheque the rent is taking. Most people lack reliable friends and/or willing family to co-own with, that strategy is the exception rather than the rule. Interesting that rents in NV are less than Squamish, it does suggest a severe lack of rental supply in Squamish.
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Old May 26th 2015, 10:58 am
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Default Re: Vancouver Property Petitition

Originally Posted by Shard View Post
Yeah 'temporary measure' is a better word. I think it's a great plan considering the share of your paycheque the rent is taking. Most people lack reliable friends and/or willing family to co-own with, that strategy is the exception rather than the rule. Interesting that rents in NV are less than Squamish, it does suggest a severe lack of rental supply in Squamish.
There is a severe shortage of rentals. The younger generation moving up from the city are buying up most of the rental stock in town and evicting the tenants and with no new rental stock hitting the market, its cause a severe shortage of rentals across the board.

With no real plans for anyone to build more dedicated rentals, renting isn't going to get better any time soon.

In 12 months the rents in our building went from 715 per month to now 975 per month for new tenants and our place is mandated to be X % average market rent.

1 bed rooms that landlords could not find people to rent to in Nov 2013 going for 900 a month are now going for 1,300+ a month in the same buildings.

If you need to rent in Squamish, your screwed and need to leave town for the most part at the moment.

Some have chosen to live in their cars rather leave their jobs and start over.

The new builds of town houses and single family homes will ease the crunch on prices if looking to own, but I doubt they will do anything for renters.

There are plans for 32 dedicated rentals in a few years, but they will only be available to those who are on BC Housing assistance.

Rental vacancy is hovering right around 0% the last year. People are always asking if they know someone with a place to rent or a room to rent, people are desperate.

Its showing in the employment market now, service jobs like hotel, retail, fast food are all having major issues filling positions because well those who would normally do those positions are leaving town because they can't find anywhere to live, the folks lefts are mostly young families with just 1 working parent and a stay at home parent.

We upped our pay 2/hr to starting employees and haven't had anyone drop off resumes yet.

Lots of jobs now, they are just all service jobs, so for me better to stay with the known then go elsewhere and find out its even worse.....lol

Our rent will also go up in Feb if we stay, not sure what the % allowed will be for next year but even at 2.5% its a hardship since we can't really afford what we pay now, its a hardship and you end up hating life when you work, and it all goes to someone else the same day, and then nothing left....lol



I'd say for a single to live on their own and meet their basic needs in town, you'd need to make 19-20 per hour at current rental costs.

Apparently using 10% down, you need 120,000 now income wise to buy the typical single family home in Squamish, about double the median household income.

Condos can be found in a nice building in the 200-350k

The cheap condos in town are cheap for a reason, a strata who does nothing, lots of crime, no real maintenance being done on common area's, and not a place you want to buy into unless you can buy the entire thing and clean it up.

Some of the units are nice and re done, but who want's to live in a building that is falling apart?


I really like the new town homes they are building, good location, and good layout and very modern, if we could, I'd buy one no issue. 349,900 now (when they first went on sale phase 1 was 40k cheaper, but demand is greater for phase 2.

3 levels, garage and small basement on level 1, living room and kitchen on level 2, and level 3 has 2 bed rooms with the bath room and laundry room between the 2 bedrooms.

I really like they layout, and if we have the ability, I'd buy one in a heart beat.

Last edited by Jsmth321; May 26th 2015 at 11:05 am.
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Old May 26th 2015, 11:06 am
  #240  
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Default Re: Vancouver Property Petitition

Originally Posted by Shard View Post
Yeah 'temporary measure' is a better word. I think it's a great plan considering the share of your paycheque the rent is taking. Most people lack reliable friends and/or willing family to co-own with, that strategy is the exception rather than the rule. Interesting that rents in NV are less than Squamish, it does suggest a severe lack of rental supply in Squamish.
We do have to check with the ministry, we will pay her mom rent, but the ministry doesn't like to pay rent to family so they have been known to remove the rental amount from disability when living with a family member.
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