5833 replies to this topic

[Sparky]

^ https://www.point2ho.../104274391.html

[lanforod]

^ https://www.point2ho.../104274391.html

 

Leasehold. but i'm sure you can find freehold... maybe in Tahsis

[spanky123]

I'm not saying we shouldn't care, or that there aren't issues when the labor force can't find housing within a reasonable distance of their employment. But I don't think you can ignore the "housing is more expensive in the most desirable locations" as a major factor in real estate pricing.

 

It is a bigger issue here because we have a culture that believes you should be able to live where you want and pay the price you want to pay.

[Mike K.]

But aren't there also lots of places in BC and on Vancouver Island where you can buy an amazing home for $250k? It still seems to me like the main issue is that Victoria is seen by a lot of people as a really nice place to live, and housing is always more expensive in such a place. That's true in downtown Seattle as well for example. It's obviously true in Manhattan. No one bemoans the lack of affordable real estate in Monaco.

I'm not saying we shouldn't care, or that there aren't issues when the labor force can't find housing within a reasonable distance of their employment. But I don't think you can ignore the "housing is more expensive in the most desirable locations" as a major factor in real estate pricing.

In comes working from home. That reasonable distance has been cut to zero km and zero travel time.

[TFord]

But aren't there also lots of places in BC and on Vancouver Island where you can buy an amazing home for $250k? It still seems to me like the main issue is that Victoria is seen by a lot of people as a really nice place to live, and housing is always more expensive in such a place. That's true in downtown Seattle as well for example. It's obviously true in Manhattan. No one bemoans the lack of affordable real estate in Monaco.

 

I'm not saying we shouldn't care, or that there aren't issues when the labor force can't find housing within a reasonable distance of their employment. But I don't think you can ignore the "housing is more expensive in the most desirable locations" as a major factor in real estate pricing.

 

 

I was referring to Canada wide issue. Not just Victoria or Vancouver Island.

 

appreciate the comments though.

 

TFord 

[TFord]

I was reading an article last week about a home in rural Manitoba, I will try and post a link.

 

Agreed for sale in January 2021 $960,000. Last sold in 2013 for $280,000. I agree with Mike WFM is having an impact, but maybe poor policies and reckless bank lending is a factor. 

 

It's a train wreck waiting to happen.. buckle in folks. 

 

TFord

[spanky123]

Nice little 3 bed 1 bath in PEI, $142K  https://www.realtor....kinkora-kinkora

One in Southern Ontario for $270K https://www.realtor....road-chatsworth

Southern Manitoba $179K https://www.realtor....ch-rm-of-fisher

Central BC $117K https://www.realtor....-avenue-mcbride

 

Thousands of sub $300K properties across the country near towns and villages. I know, they aren't on the ocean or on the main drag in a major downtown core.

[Greg]

I was referring to Canada wide issue. Not just Victoria or Vancouver Island.

 

appreciate the comments though.

 

TFord 

 

I guess it seems to me more like a problem in Victoria, Vancouver, Montreal and Toronto. But maybe I haven't been paying enough attention to other locations.

[m3m]

No one bemoans the lack of affordable real estate in Monaco.

 

 

It's outrageous in Monaco.  If I moved there, I'd probably have to live out of the stateroom on my mega-yacht! God forbid. 

[Mike K.]

The last six months have seen people pushing further out into lake land and river country. That’s what’s impacting desirable properties in rural Canada, for sure.

But there’s no housing rush in Moose Jaw, Spuzzum or Cold Lake.

Millennials are boycotting SFD construction, while wanting to live in SFDs, for which they don’t think they should be paying the going prices resulting from the boycotting. Folks, you can’t expect 20-years of a formidable push to control urban expansion, massive increases in the cost to bringing a proposal to the approvals stage and significant amenity asks to yield affordable housing. Physics doesn’t allow that, I’m afraid.

[Szeven]

I'm surprised at the lack of push back on realtors with all this free money sloshing around. I guess when you are selling for such profit you don't care if someone is basically stealing $40k from you?

[AllseeingEye]

The last six months have seen people pushing further out into lake land and river country. That’s what’s impacting desirable properties in rural Canada, for sure.

But there’s no housing rush in Moose Jaw, Spuzzum or Cold Lake.

Millennials are boycotting SFD construction, while wanting to live in SFDs, for which they don’t think they should be paying the going prices resulting from the boycotting. Folks, you can’t expect 20-years of a formidable push to control urban expansion, massive increases in the cost to bringing a proposal to the approvals stage and significant amenity asks to yield affordable housing. Physics doesn’t allow that, I’m afraid.

 

 

Yup just look at the huge uptick on BC recreational property prices on Landquest, a site I scour & review with some frequency. The price increases in the last 24 months has been quite something:

 

https://www.landquest.com/

Edited by AllseeingEye, 08 April 2021 - 09:50 PM.

[spanky123]

Yup just look at the huge uptick on BC recreational property prices on Landquest, a site I scour & review with some frequency. The price increases in the last 24 months has been quite something:

 

https://www.landquest.com/

 

True, and I say this as someone who owns property, but the prices today are only marginally higher then they were before the crash in 2007/2008 in many markets. 

Edited by spanky123, 09 April 2021 - 07:03 AM.

[Mike K.]

Government: social distancing and COVID-19-type threats are the new normal.

Public: we better look at moving to less populated, lower density communities then, and find ways to work from home to make the next round of an outbreak easier to deal with.

Media: let’s get a few talking heads to say they want government to limit speculation on real-estate in rural Canada, so we can say experts are calling for government intervention on a ‘vacation’ property-buying frenzy.

[Sparky]

Jeepers Mike...you are going to scare the crap out of everyone and they are all going to want to run away to a remote tiny island in the Pacific Ocean.

Stop it!

I was speaking with a shop keeper in the city yesterday and I loosely commented that I will be glad when this Covid thing is over....and he snapped back and said that it will never be over.

I haven’t recovered from that comment as yet.

[spanky123]

Jeepers Mike...you are going to scare the crap out of everyone and they are all going to want to run away to a remote tiny island in the Pacific Ocean.

Stop it!

I was speaking with a shop keeper in the city yesterday and I loosely commented that I will be glad when this Covid thing is over....and he snapped back and said that it will never be over.

I haven’t recovered from that comment as yet.

 

It won't ever be over as long as we allow it to continue. Government will continue to push towards the "great reset" and use covid as an excuse to keep people silent and maintain power. The good news is that the great reset will only make things worse for the middle class and they won't take it much longer. When that time comes we will whipsaw back to the right.

[spanky123]

I'm surprised at the lack of push back on realtors with all this free money sloshing around. I guess when you are selling for such profit you don't care if someone is basically stealing $40k from you?

 

You obviously are using the wrong realtor. I have been involved in probably 50 housing sales over the years with and without realtors. In almost every case (exception being a crazy sellers market), I have netted more money with a realtor than without. Access to the broadest range of buyers and detached negotiating were worth every penny to me.

[Mike K.]

The commission is also worked into the sale price, so for the seller it’s a bit of a wash.

[Szeven]

I personally haven't done a real estate transaction in years. I'm just observing what I think a lot of people observe: an insane amount of money is given to realtors during these easy sale times, but without them there is no exposure because the market is cornered.

[Mike K.]

For $10k you can corner the market yourself with advertisements, and blanket the town for $20k.

But 99% of home sellers prefer to raise their sale price to pay for the agent, the buyer’s agent, handling communications and the whole process, and just sit back.