1451 replies to this topic

[tjv]

I know and I just shake my head, you aren't making any money at those rates by the time inflation is factored in

 

I'll stick to my 20+% mortgages thanks

[Rob Randall]

Great world chart. Look for Victoria at the $1200 level, alongside Pittsburgh and Bristol.

 

https://i.redd.it/0lji1j8bzh711.png

 

More expensive than Berlin, cheaper than Stockholm.

 

But of course this depends on how they classify the boundaries of the city.

Edited by Rob Randall, 02 July 2018 - 06:50 AM.

[Sparky]

^ Thanks for that Rob. That ignited a 2 hour discussion with our mid 20's spawn  about supply and demand....mixed with location and weather..... served with a dash of dinero. 

 

In other words what makes the world go 'round.

[tjv]

^^that's a great chart, but as there are cities listed around the world I will assume its in US dollars?  I'm not sure you can find a place for $1200 CAD right now

[Rob Randall]

It's USD which works out to just over $1500 which is the cost of a nice two bedroom (downtown would be more, basement suite, less).

 

Links to the original data and other info is here:

https://www.reddit.c...son_540_cities/

[Rob Randall]

Here you go, the cheapest 1,800 sq. ft. apartment in the world:

 

https://www.99acres....1641?pos=SEARCH

 

$105.57 per month in Vadodara, India. 

 

A very good 3 bhk flat for rent in flat h 2, sevasi, vadodara. It is a superb property and offers an excellent view. The flat is semifurnished with multiple amenities and promises a comfortable stay. It is feng shui/vaastu compliant, which is considered to bring positive energy. It has a super built-Up area of 1845 sq. Ft. Other facilities include lift(S), park, visitor parking and water storage etc. It also has vitrified flooring. 1 covered parking. Full power back up.

 

Edited by Rob Randall, 02 July 2018 - 02:23 PM.

[LJ]

Well I know how we could save a bundle on housing the homeless......

[Casual Kev]

Maybe I should learn some Polish to set up an affordable retirement somewhere along the Baltic Sea... figures massive emigration plus zero natural growth makes things cheap, haha

[tjv]

Robin Kimpton is renting one of his crack shacks, 85 bachelors up for grabs.  Expect it to come with free cockroaches

 

https://www.usedvict...0686?trending/5

[RFS]

Robin Kimpton is renting one of his crack shacks, 85 bachelors up for grabs.  Expect it to come with free cockroaches

 

https://www.usedvict...0686?trending/5

 

should come with free hepatitis vaccinations 

[spanky123]

Robin Kimpton is renting one of his crack shacks, 85 bachelors up for grabs.  Expect it to come with free cockroaches

 

https://www.usedvict...0686?trending/5

 

Fill it up with people, let the place fall to disrepair, threaten to close and then the Province/City will pay you 3x what it is worth. 

 

Rinse and repeat.

[tjv]

I've got no idea how this guy is allowed to operate.  He let one house fall into such bad shape on Cook St and refused to do anything about it, the City demoed the house and invoiced him.

[spanky123]

I've got no idea how this guy is allowed to operate.  He let one house fall into such bad shape on Cook St and refused to do anything about it, the City demoed the house and invoiced him.

 

Maybe he plans to just skip a few steps and let the City think that his building is worth 84 x $850 a month so that they will think that they only have to subsidize units $100 a month and they hit their "affordable" number. 

 

The City allows folks like him to operate as they believe that a slum is still a better place to live than the streets. People who understand that mentality can make a lot of money at the expense of others.

Edited by spanky123, 29 August 2018 - 10:15 AM.

[Mike K.]

A building owner in Vancouver recently made out really well when the City stepped in to purchased the dilapidated buildings.

[tjv]

I believe the one in question is still for sale.  It has a for sale sign (as in the kind you buy from a corner store for $1) with a phone number

[Casual Kev]

Robin Kimpton is renting one of his crack shacks, 85 bachelors up for grabs.  Expect it to come with free cockroaches

 

https://www.usedvict...0686?trending/5

 

I've walked by this building several times recently, it looks more like the setting of an apocalyptic B-movie than an apartment building. 

 

And spanky might be right, could just be part of a game to either get subsidies or get a big payday. This is the sort of scenario where it would be nice if the city could just invoke some sort of clause to expropriate without compensation.

[Rob Randall]

^I think potential renters should have Kimpton's resume and references.

[Victoria Watcher]

^the market will figure that out.  i'm not sure if kimpton is smart enough to be pulling off a long-term financial goal.  i feel he's just a troubled guy.  with money for some reason.  not for recent business practices.  there are lots of people with family money making crazy mistakes in business.  like the eatons.

Edited by Victoria Watcher, 29 August 2018 - 07:06 PM.

[Sparky]

Sometimes wonder if the only exercise some vv posters get is jumping to conclusions.

 

Have any of you met Robin? I have, and I have found him to be honest and much more caring than people give him credit for. He is in a tough business housing the hard to house. He is in a much needed business that a lot of landlords shy away from. 

 

Case in point was the assumption that it was his truck that caught fire that ultimately resulted in the relocation of his tenants at the Queens street building. It has been a long rebuild but it would appear that it is getting there. He traded the truck to one of his tenants so the tenant could have a place to live. Then some other hapless idiot set it on fire. 

 

Give the guy a break.  

[spanky123]

^ I don't think that it was an assumption Sparky, the TC reported it as fact. 

 

https://www.timescol...enue-1.14278545

 

You are 100% right in that it is a very tough business. As I pointed out, for many people even a slum is better than the streets.

 

Looking at court services, he is involved in 58 lawsuits personally and 4 corporately. He may be a nice and honest guy but he is involved in a lot of disputes.