1451 replies to this topic

[Nparker]

Won't at least some of this egotistical generation inherit their parents' estates?

[Matt R.]

They will own nothing and be happy.

They might actually be.

[dasmo]

The safe supply will ensure it…

[Matt R.]

Steady supply of soma and work life balance, not the worst outcome.

[dasmo]

Bread and circuses usually does the trick.

[Mike K.]

CMHC is calculating the Victoria rental vacancy at 1.5% for purpose-built inventory, and 0.2% for condo rentals.

 

If that's what CMHC is saying, we can assume the actual vacancy is even lower.

[Victoria Watcher]

Rent increased more than 18% last year for new tenants, new numbers show

https://www.cbc.ca/n...eport-1.6726764

[Mike K.]

There is perhaps no better barometer of the rising cost of living than rising rental rates. The real-world inflation rate last year was 1.5% per month, which we’ve talked about previously. And low and behold, rents rose by 18%, right on the money.

Construction costs have skyrocketed too. $500 all-in for wood frame, $550-$600 for concrete, per foot.

[Victoria Watcher]

Rent rose by one third for Greater Victoria apartments changing hands last year: CMHC

The sharp increase helped drive up the average cost of renting a two-bedroom unit in a purpose-built rental apartment by 6.7 per cent from 2021.

https://www.timescol...ar-cmhc-6443300

Edited by Victoria Watcher, 27 January 2023 - 06:03 AM.

[Mike K.]

One-third is 33%. But rents only rose by 6.7%?

[Victoria Watcher]

One-third is 33%. But rents only rose by 6.7%?

 

Yes, 1/3 for apartments that turned.  6.7% averaged over all apartments (including the ones under rent control - that's most of them, that never turned).

Edited by Victoria Watcher, 27 January 2023 - 06:31 AM.

[Mike K.]

Got it. Thank you.

The 33% amount can be misleading, at first glance. It wasn’t $1,750 1BRs that rose 33%, it would have been long-term rentals that were renting for $1,400 while all the units around them were already $2,000.

[Barrrister]

The narrative is setting the stage for a possible announcement of rent control by unit prior to an election. 

[IPH]

The narrative is setting the stage for a possible announcement of rent control by unit prior to an election. 

That's sure to encourage developers to build more rental units! 

[Stephen James]

The narrative is setting the stage for a possible announcement of rent control by unit prior to an election. 

Yes. And their own research has told them if they do that, it will have a chilling effect on new supply, as well as likely remove many of the units in SFHs.

 

I don't think they care. The current marxist/socialist agenda is determined to relearn the lessons of the recent past. I expect the facility on Johnson will be one of many such hellscapes, and we'll pay many more taxes for more financial nightmares like the one we're about to hear about from BC Housing.

[Nparker]

The NDP's goal is to have government control all residential rental properties.

[Victoria Watcher]

[LJ]

The government wants to know what they should put in their budget, I don't think they will like my responses...

 

https://www.letstalkbudget2023.ca/let-s-talk-budget-2023/survey_tools/questionnaire

[Nparker]

The government wants to know what they should put in their budget, I don't think they will like my responses...

Great minds think alike: https://vibrantvicto...ssion/?p=685203

[Mike K.]

A UDI report shows that municipal and provincial and federal taxation and costs associated to development equal to just under 10% for a condo in Saanich to just under 30% for a rental in Vancouver.

The condo costs are even higher if the unit is purchased by an investor.