3808 replies to this topic

[Nparker]

"Spy spearmint"?

[tjv]

I predict a full 1% rate increase in the next 12 months.  We are still 0.25% below the US fed rate.

[LJ]

You know it wasn't a lot. Back then a house was $60K and most owners had 25% down so it is not like the extra couple hundred a month in interest would break the bank.

 

I really doubt that we will see interest rates climb above 2%-3% any time in the near future. The difference now is that the Government is so much more in debt that they cannot afford the extra payments. 

I don't know where you were living back then, houses in my neighbourhood were $150-250, and most folks only put 10% down.

Three couples on my little cul de sac walked. People were screaming for the government to help them but 10 years later never offered to share the $300K they made when they sold that house.

[spanky123]

^ I am talking about the early 80's that VHF referenced. Don't know where houses were $250K back then. People were not nearly as highly leveraged as they are now and housing costs were a much smaller fraction of overall income.

[Sparky]

I paid $127,000 in 1979 for a waterfront duplex on the Gorge. 

[spanky123]

I paid $127,000 in 1979 for a waterfront duplex on the Gorge. 

 

Both sides?! 

Edited by spanky123, 08 September 2017 - 08:12 AM.

[Mike K.]

My uncle was telling me he had the option to buy a Dallas Road home (in Fairfield) for $80k back in the late 80's.

[Sparky]

Both sides?! 

 

Yes, it was more of an upper/lower where it sloped down the grade to the water so the upper wasn't directly above the lower. 

 

It was owned by a bank manager that had to sell it in a hurry so he didn't get tagged with capital gains. He also provided the mortgage. 

[North Shore]

My uncle was telling me he had the option to buy a Dallas Road home (in Fairfield) for $80k back in the late 80's.

 

Back in the early 80's my parents had an option on low-bank waterfront in West Vancouver for $207k...Dad said that he could make the 200, but not the extra 7.  Looking back (20/20, of course!) he should have hocked my mum's engagement ring, and sent us kids out to get paper routes!

[Mike K.]

Back in the early 80's my parents had an option on low-bank waterfront in West Vancouver for $207k...Dad said that he could make the 200, but not the extra 7.  Looking back (20/20, of course!) he should have hocked my mum's engagement ring, and sent us kids out to get paper routes!

 

Ha! No doubt, hey.

[LJ]

^ I am talking about the early 80's that VHF referenced. Don't know where houses were $250K back then. People were not nearly as highly leveraged as they are now and housing costs were a much smaller fraction of overall income.

Vancouver, note the prices quoted are with inflation

 

https://www.theglobe...55/?arc404=true

[Citified.ca]

Artist's rendering of 330 Goldstream Avenue, a 104-unit affordable housing development earmarked for the Colwood Corners area of the Westshore. 330 Goldstream is one of three active affordable housing developments on Colwood and Langford that will deliver over 250-units of below-market rental housing by 2019.  Cascadia Architects/Greater Victoria Housing Society

 

Over 250-units of affordable housing slated for Victoria's Westshore by 2019

http://victoria.citi...ngford-colwood/

[Bingo]

Artist's rendering of 330 Goldstream Avenue, a 104-unit affordable housing development earmarked for the Colwood Corners area of the Westshore. 330 Goldstream is one of three active affordable housing developments on Colwood and Langford that will deliver over 250-units of below-market rental housing by 2019.  Cascadia Architects/Greater Victoria Housing Society

 

The open end of the seven story rendering looks precarious with supports that will likely buckle under the first earth tremor.

[VicHockeyFan]

The open end of the seven story rendering looks precarious with supports that will likely buckle under the first earth tremor.

 

Oh, I'm pretty sure that engineers have signed off on it.

[Bingo]

Oh, I'm pretty sure that engineers have signed off on it.

 

Your probably right, but the rendering makes it look worse that the real thing.

[Matt R.]

There are cantilevered support beams that run the length of the entire building, right through the first level suites at head height. Lots of strength.

Matt.

[Bingo]

There are cantilevered support beams that run the length of the entire building, right through the first level suites at head height. Lots of strength.

Matt.

 

Head height? What is the ceiling height, and the door height on the first level. 

[Matt R.]

Sorry, I should have said "face height".

Matt.

[Bingo]

Sorry, I should have said "face height".

Matt.

 

Whose face and how high above the floor?

[VicHockeyFan]

Victoria council gets priority for its resolution calling for a share of increased federal and provincial taxes. They hope to discourage “flipping” and speculative purchase of homes, which drive up prices and leave properties sitting empty as investors reap profits.

Their resolution calls for a portion of the province’s property transfer tax revenue, plus a share of capital gains tax, to be dedicated to municipal affordable housing and transit.

 

http://www.vicnews.c...ndp-government/