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Victoria's housing market, home prices and values


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#2641 LeoVictoria

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Posted 09 November 2018 - 09:13 AM

He stole a house out of civil forfeiture for pennies on the dollar! FFS!!!!!


You mean he purchased a house on the open market and put a ton of work into fixing it up. The temerity!

Sure seems like a lot of sour grapes in here. Maybe you should have bid on that house?

#2642 Bob Fugger

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Posted 09 November 2018 - 09:31 AM

You mean he purchased a house on the open market and put a ton of work into fixing it up. The temerity!

Sure seems like a lot of sour grapes in here. Maybe you should have bid on that house?

 

It's not sour grapes.  It's irony.  As in, he's improved his wealth through the same free market for which he holds such disdain.  He also had the inside track on what was going there, which helps to explain why he had the only bid on the auction.

 

The guy is the personification of Animal Farm.  So when people like me call him on his utter and blatant hypocrisy, that's sour grapes, now?  Cool story, bro.


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#2643 aastra

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Posted 09 November 2018 - 10:19 AM

 

...which helps to explain why he had the only bid on the auction.

 

Or maybe the ongoing housing crisis just wasn't very severe on that particular day? Things go up and down.



#2644 Bob Fugger

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Posted 09 November 2018 - 11:07 AM

Or maybe the ongoing housing crisis just wasn't very severe on that particular day? Things go up and down.

 

 

He also had the inside track on what was going there, which helps to explain why he had the only bid on the auction.

 

I used a weasel word to qualify that statement.  :ph34r:

Edited by Bob Fugger, 09 November 2018 - 11:07 AM.

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#2645 LeoVictoria

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Posted 09 November 2018 - 11:23 AM

It's not sour grapes.  It's irony.  As in, he's improved his wealth through the same free market for which he holds such disdain.  He also had the inside track on what was going there, which helps to explain why he had the only bid on the auction.

 

The guy is the personification of Animal Farm.  So when people like me call him on his utter and blatant hypocrisy, that's sour grapes, now?  Cool story, bro.

 

If he had bought that house, fixed it up, and flipped it for a huge profit you'd have some semblance of a point.  

I assume he still lives there.  So he bought a house that was in very bad shape, fixed it up, and now lives there.  As for being the only bid, that's because the market was slow at that point and no one else wanted a drug house.  Anyone could have made another bid, but they didn't.      And somehow it's his fault or a communist plot that the housing market took off since then?   Like I said, time to adjust the tinfoil hat.


Edited by LeoVictoria, 09 November 2018 - 11:26 AM.


#2646 spanky123

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Posted 09 November 2018 - 11:26 AM

If he had bought that house, fixed it up, and flipped it for a huge profit you'd have some semblance of a point.  

I assume he still lives there.  So he bought a house that was in very bad shape, fixed it up, and now lives there.    And somehow it's his fault or a communist plot that the housing market took off since then?   Like I said, time to adjust the tinfoil hat.

 

I think that Ben should sell the house for what he has in to it and then rent. That would align his words with his actions. Otherwise trying to deny others the opportunity to profit in real estate while he sits back and counts his money is insincere whether the growth in value was planned or not.



#2647 LeoVictoria

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Posted 09 November 2018 - 11:33 AM

I think that Ben should sell the house for what he has in to it and then rent. That would align his words with his actions. Otherwise trying to deny others the opportunity to profit in real estate while he sits back and counts his money is insincere whether the growth in value was planned or not.

 

Yes sure, let's disqualify everyone in the city from trying to come up with future housing policy because of their personal circumstance.

 

1. All home owners are out because they profited from real estate 

2. All renters are out because they're just jealous of home owners

3.  All business people are out because they're just after their own profits



#2648 N E Body

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Posted 09 November 2018 - 11:39 AM

I think that Ben should sell the house for what he has in to it and then rent. That would align his words with his actions. Otherwise trying to deny others the opportunity to profit in real estate while he sits back and counts his money is insincere whether the growth in value was planned or not.

 

Actually, Ben is living his words. Find and/or build housing at a reasonable cost... give people a place to live without breaking the bank.

 

Can't say I agree with some of Ben's policies but he, through buying this house, has shown us that he knows about affordable housing...  :D


Edited by N E Body, 09 November 2018 - 11:40 AM.


#2649 Bob Fugger

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Posted 09 November 2018 - 01:54 PM

If he had bought that house, fixed it up, and flipped it for a huge profit you'd have some semblance of a point.  

I assume he still lives there.  So he bought a house that was in very bad shape, fixed it up, and now lives there.  As for being the only bid, that's because the market was slow at that point and no one else wanted a drug house.  Anyone could have made another bid, but they didn't.      And somehow it's his fault or a communist plot that the housing market took off since then?   Like I said, time to adjust the tinfoil hat.

 

So rather than flip it, he's held onto it and profited more on it.  He is anti-capitalism, so as was mentioned earlier, he should sell it for top dollar and then donate the proceeds minus the costs to the City or some poverty pimp agency.


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#2650 tjv

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Posted 09 November 2018 - 04:10 PM

They are glued to the downtown core because they have been taught that they are entitled to everything that they want. 

 

Let's face it, the vast majority of small cities across Canada have suffered stagnant growth over the past 30 years as new immigrants set up roots in major cities and the rest of the population ages. There are many, many places in Canada where you can live in a beautiful area and buy a house for less than $300K or rent for less than $750 a month. That is never the discussion though, it is all about the right to housing at a price you want to pay anywhere in Canada.

There are lots of beautiful areas where you can get a house for less than 100k! Just don't ask or talk about the winter weather


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#2651 Mike K.

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Posted 09 November 2018 - 04:24 PM

There are areas on this island where you can buy a single-family-home for $100k or less. No joke.


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#2652 Nparker

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Posted 09 November 2018 - 04:30 PM

There are areas on this island where you can buy a single-family-home for $100k or less...

Not once everyone decides they want a single-wide mobile home in Zeballos.


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#2653 Citified.ca

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Posted 10 November 2018 - 06:36 AM

10-on-the-Tenth-November-10-2018.jpg

Ross Marshall of CBRE Victoria speaks with Chris Boissevain of the Business Development Bank of Canada about the nation's consumer and commercial lending environments in Citified's second Ten on the 10th Q&A segment with local real-estate and business leaders.

 

Ten on the 10th: interest rate Q&A with Chris Boissevain of Business Development Bank of Canada

https://victoria.cit...bank-of-canada/

 

Citified's Ten on the 10th is a monthly question-and-answer segment connecting our readers with the insight and knowledge of Victoria's top real-estate and business professionals.

 
November's Ten on the 10th features Chris Boissevain, Manager at the Business Development Bank of Canada's Victoria office. As a Crown Corporation tasked with lending and advisory services to Canadian businesses and institutions, Chris has valuable insight into the nation's lending environment and its impacts on both consumers and entrepreneurs. [Full article]

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#2654 tjv

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Posted 10 November 2018 - 07:47 AM

There are areas on this island where you can buy a single-family-home for $100k or less. No joke.

are you talking about an actual single family home and not a trailer?  The places I'm talking about elsewhere in Canada is not a trailer



#2655 Mike K.

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Posted 10 November 2018 - 09:27 AM

Not a trailer. Even then, there’s nothing wrong with a properly built mobile home. It’s the land that holds the value regardless.
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#2656 Midnightly

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Posted 10 November 2018 - 11:54 AM

brand new manufactured homes (pre-fab homes) can be quite nice... though i think even those are above the 100k price point new (my parents just bought one a 2 part one for about 220k placed on a strata land looks exactly like a cute little house with high ceilings, excellent construction, lots of windows, open floor concept)



#2657 exc911ence

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Posted 10 November 2018 - 06:39 PM

Not a trailer. Even then, there’s nothing wrong with a properly built mobile home. It’s the land that holds the value regardless.

 

Which is why I don't understand the prices of condo apartments. You don't own any land, just a hole in the wall of a building. I suppose in a strata situation you "own" a percentage of the land that the building is sitting on (20 units = 5% ownership, etc) but do you really? Apartments should honestly be dirt cheap.


Edited by exc911ence, 10 November 2018 - 06:39 PM.


#2658 Nparker

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Posted 10 November 2018 - 06:56 PM

...in a strata situation you "own" a percentage of the land that the building is sitting on (20 units = 5% ownership, etc) but do you really?...

The most recent BC Assessment on my condo calculated the land portion at 65% of the total property value.



#2659 nerka

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Posted 10 November 2018 - 08:33 PM

There are areas on this island where you can buy a single-family-home for $100k or less. No joke.

If you can spend up to 150 K you could actually get a pretty decent SFH in Gold River, Tahsis, Zeballos, Woss, or Port Alice. All great places if you like some or most of the following : abundant rain, fishing, hunting, kayaking, mountaineering.  Got to make your own career or bring it with you tho.


Edited by nerka, 10 November 2018 - 08:36 PM.


#2660 Mike K.

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Posted 12 November 2018 - 09:41 AM

Yes, and Port Alberni as well.

In those small communities you could even have an ocean view for that price. Not too shabby.

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