3492 replies to this topic

[Mike K.]

I don't think developers are trying to charge more. There's a massive grey area between entry-level and luxury finishings.

 

Few people want to pay for luxury, but almost all buyers expect value from low-end finishings, and it's the value-priced but decent quality finishings that are in demand.

 

There's a massive difference between a $750 a square foot and $1,200 a square foot unit.

 

In any case, here's the latest affordable housing development proposal: 73-unit affordable housing complex proposed for Carey Road near Uptown Shopping Centre

[VicHockeyFan]

Well, charge more and/or make the places more desirable.

[dasmo]

I would expect Luxury at $750/sqft.... For $1200 I would expect excess and opulence. 

[Mike K.]

I would expect Luxury at $750/sqft.... For $1200 I would expect excess and opulence. 

 

If you think you can buy a brand new Lexus for the price of a Toyota you're only setting yourself up for disappointment.

 

Anyone who walks into a $750 a square foot condo and screams luxury is a little bit out of touch.

[dasmo]

If you think you can buy a brand new Lexus for the price of a Toyota you're only setting yourself up for disappointment.

 

Anyone who walks into a $750 a square foot condo and screams luxury is a little bit out of touch.

This condo in Tokyo is pretty luxurious....

http://www.sothebysr...ower-chuo-ku-to

 

Anyone buying a condo for $750/sqft and not getting luxury is out of touch. 

[Mike K.]

This condo in Tokyo is pretty luxurious....

http://www.sothebysr...ower-chuo-ku-to

 

It is, but it's also priced at $1,050CAD per square foot. And being in a 1,420-unit complex, economies of scale have pushed that price well below what it could cost to build a comparable unit in Victoria. Locally we'd expect to see that same unit for $1,300 at least.

[FirstTimeHomeCrier]

I don't think developers are trying to charge more. There's a massive grey area between entry-level and luxury finishings.

 

Few people want to pay for luxury, but almost all buyers expect value from low-end finishings, and it's the value-priced but decent quality finishings that are in demand.

 

There's a massive difference between a $750 a square foot and $1,200 a square foot unit.

 

In any case, here's the latest affordable housing development proposal: 73-unit affordable housing complex proposed for Carey Road near Uptown Shopping Centre

 

Both $750 and $1200/sq foot are way off of what true entry level buyers can afford. I'm paying about $290/sq foot for my new place. $750/sq foot is luxury to me. A washing machine is luxury to me. Covered parking is luxury to me. A thermostat with numbers on it is luxury to me.

[Nparker]

...A thermostat with numbers on it is luxury to me.

Who needs numbers? Just keep fiddling with it until the temperature feels right.

[FirstTimeHomeCrier]

Who needs numbers? Just keep fiddling with it until the temperature feels right.

 

It does have a triangle showing what was once the "comfort zone" before the letters also fell off.

[Awaiting Juno]

Both $750 and $1200/sq foot are way off of what true entry level buyers can afford. I'm paying about $290/sq foot for my new place. $750/sq foot is luxury to me. A washing machine is luxury to me. Covered parking is luxury to me. A thermostat with numbers on it is luxury to me.

 

Agree.  At 1,000 square feet that's a $750,000 price tag, I'd expect an extremely high level of finish at that price.  Further, I'd argue, the new stock isn't where the "affordable housing" shoppers are focussed.  It's used stock that may not have many of the bells and whistles.  Further, it is reasonable to expect "shared accommodations" - self contained units that aren't shared have always been pricier than sharing a place with a room mate or two. 

[Sparky]

We need to start thinking outside of the capsule.

 

Free rent here.

 

http://www.usedvicto...velers_29610668

[kafkaesque]

^ I read that yesterday, so can I apply?

 

The house beside me has just posted a for sale sign.  I guess they are thinking the weekend will be a good time to sell?  Or is there any bad time to sell here anymore?  It is not online yet, but I will use my time travelling abilities to let you know that it will sell over asking.

[VicHockeyFan]

Now Mayor Helps is proposing a work camp of ATCO housing on the Rock Bay remediated lands.

 

 

What a moron.  She was so close to getting through the week without saying anything idiotic.  But it was likely too much to ask with her on CFAX for an hour today.

 

 

Edited by VicHockeyFan, 30 June 2017 - 02:36 PM.

[Nparker]

Now Mayor Helps is proposing a work camp of ATCO housing on the Rock Bay remediated lands.What a moron.

This idea went over like a lead balloon when presented to the CEO of the Vancouver Island Construction Association

...Rory Kulmala, CEO of the Vancouver Island Construction Association, which represents more than 400 companies on the island, says it is currently not a viable idea. “There’s a lifestyle issue that comes with living in a camp. It’s not suitable for families,” Kulmala said. “They want to have a quality of life that a camp doesn’t really offer.”...According to the association, work camps can cost millions to build, and each worker can cost a company thousands per year to house...

http://www.cheknews....backlog-341702/

[Mike K.]

ATCO trailers. Nice.

[kafkaesque]

A whole new AirBNB set-up!  Do hard hats come with?

[sebberry]

Now Mayor Helps is proposing a work camp of ATCO housing on the Rock Bay remediated lands.

 

 

What a moron.  She was so close to getting through the week without saying anything idiotic.  But it was likely too much to ask with her on CFAX for an hour today.

 

At first read I thought this was going to be for the homeless. 

 

Here's an idea, let's send all CCH occupants up to Site C.  I hear there's some pretty nice accommodation that'll be unused soon.

[spanky123]

Now Mayor Helps is proposing a work camp of ATCO housing on the Rock Bay remediated lands.

 

 

What a moron.  She was so close to getting through the week without saying anything idiotic.  But it was likely too much to ask with her on CFAX for an hour today.

 

The City doesn't own those lands so has she negotiated something with FN?

 

I don't know where Helps gets the idea that if we had more housing then constructions companies would recruit in more workers. It costs a lot to move people and their families and who knows how long the current boom will last. I think that most companies are very happy to be working at or near full capacity and being able to charge a premium for their services. 

 

If it wasn't for Helps demonstrating that the City is willing to pay 3x-4x market value for properties and work then perhaps some bidders might be enticed to bid a bit more reasonably for City projects.

Edited by spanky123, 01 July 2017 - 08:09 AM.

[Nparker]

Could someone please explain the following statements excerpted from a letter in today's T-C?

...It’s widely acknowledged that Victoria faces a severe housing shortage....[Council] seem to have listened closely to the real-estate developers who have grown rich from the way Victoria housing stock has become investment-class assets for the international rich looking to diversify their portfolios. Lucas even called for more supply, as though Victoria might be able to build its way out of its housing shortage. But we know from the experience of Vancouver and Toronto that it’s not possible to build more supply to solve shortages...

http://www.timescolo...sing-1.20989248

The writer admits there is a severe local housing shortage, yet inexplicably goes on to say that creating more housing is not the answer. If at least part of the issue is lack of supply, how does not adding more solve the problem?

If I were more articulate I would write to the T-C myself in response. I am hoping someone better versed in the subject than I will do this. Perpetuating this writer's bizarre form of logic helps no one.

[VicHockeyFan]

We do not have a severe housing shortage.  We have thousands of units sitting empty.  If there was a serious shortage, those units would be occupied.  We have less housing today in the lower end of the rent range, but nothing the City will do can fix that, really.

Edited by VicHockeyFan, 08 July 2017 - 08:52 AM.