Victoria's housing market, home prices and values
#4021
Posted 20 January 2022 - 12:48 PM
#4022
Posted 20 January 2022 - 01:08 PM
Insurance is such a rip-off.
#4023
Posted 20 January 2022 - 01:13 PM
I have not bothered having insurance for a few years now. But my peoperty is actually worth more without the house on it.
#4024
Posted 20 January 2022 - 01:14 PM
I don't really have a choice regarding insurance as part of a strata corporation.
#4025
Posted 20 January 2022 - 01:39 PM
With no changes to my condo policy (claims, coverage etc.) my premium is going up 45% this year. I will be speaking to my insurance provider about this.
In the recent minutes, my strata communicated the insurance increase as being the result of the 'building being worth more now' rather than the rebuild costs are through the roof. Just a little subtle wordsmithing to try to make themselves look good...
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#4026
Posted 20 January 2022 - 03:10 PM
Dont worry about the insurance costs since inflation is low according to the Ottawa.
#4027
Posted 01 February 2022 - 02:33 PM
January was the first month, ever, when condos outsold single-family-homes. Could this be beginning of the mighty titan winding up in second place behind condos?
Victoria’s $1.41 million record average house price delivers pivotal market shift in January as condos outsell SFDs
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#4028
Posted 01 February 2022 - 03:02 PM
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#4029
Posted 01 February 2022 - 05:11 PM
Mine also went up by about 45%....
#4030
Posted 02 February 2022 - 06:04 AM
That description dovetails neatly with the ongoing debate about Canada's inflation rate, now at a 30-year high of 4.8 per cent. But some experts warn that pairing housing costs with inflation could obscure the actual causes of surging home prices.
"These issues have predated our conversations about inflation, or even concerns about inflation," said Murtaza Haider, a professor in real estate management at Ryerson University.
https://www.cbc.ca/n...tives-1.6335633
Poilievre said that what he calls Canada's housing bubble is set to burst if no change is made to government policy.
Wouldn’t a burst be just what we need, to put prices back down the 33% they rose?
Edited by Victoria Watcher, 02 February 2022 - 06:05 AM.
#4031
Posted 02 February 2022 - 12:42 PM
Doesn’t this counter the drive for densification, if we are to be concerned about the lack of backyards and urban trees making way in order to redevelop property?
- https://www.cbc.ca/n...cline-1.6336439Statistics Canada used satellite imagery to estimate the amount of green space in Canadian cities — parks, urban trees, even backyards and lawns. The data has existed for years, but it was used for this purpose.
"[We're] getting a sense of the condition of vegetation in urban areas," Wang said. "It's the first time we've done that."
…
They found about three-quarters of large and medium-sized cities were less green in 2019 than they had been 20 years earlier.
"You end up seeing less green as you walk down the street," Wang said.
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#4032
Posted 02 February 2022 - 12:49 PM
They found about three-quarters of large and medium-sized cities were less green in 2019 than they had been 20 years earlier.
Were they looking at photos of Beacon Hill Park from 2019 and 2021?
#4033
Posted 02 February 2022 - 12:50 PM
For every tree a homeowner takes down, there is nothing stopping cities from requiring a development fee to cover the cost of another one planted on other private property or public lands.
#4034
Posted 02 February 2022 - 03:19 PM
Doesn’t this counter the drive for densification, if we are to be concerned about the lack of backyards and urban trees making way in order to redevelop property?
Not necessarily. I think a lot of the densification fans will also argue that green space is very important, just maybe not in the traditional sense of backyards. Put a row of townhomes and an apartment building around a park. You'll fit more homes than traditional SFHs over the same space, and everyone still has access to greenspace. Heck, build a new park downtown, the space could definitely use one. You can have green space and densification.
#4035
Posted 02 February 2022 - 03:56 PM
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#4036
Posted 02 February 2022 - 09:37 PM
#4037
Posted 03 February 2022 - 08:46 AM
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#4038
Posted 03 February 2022 - 10:12 AM
I wish it were that simple. A significant amount of ‘green’ land is devoted to densification. Consider 1080 Pandora, it was built overtop of a multi-acre schoolyard. The City also can’t just flip over land for parks, especially if there remains so much housing pressure.
Probably not the best example. I'm not sure they had to cut down a single tree to build this building.
Lots of trees and vegetation in the new courtyard. (although that's probably fake grass and its only available to residents - still lots of small trees and gardens.)
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#4039
Posted 03 February 2022 - 11:18 AM
Here's an overhead without the deceptiveness of wide angle lenses.
The astra-turf on the roof is maybe a fifth of the playing field? If that?
And believe me, I'm not begrudging the densification in any way, but densification does mean less green space. Green roofs are also not the same, they are off-limits and cannot be enjoyed by the public-at large (like private gardens can; they're a visual amenity even if you can't walk through it).
Ultimately there is a price for everything. Densification is not without its balancing act challenges.
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#4040
Posted 03 February 2022 - 11:39 AM
I lived near that "green space" for nearly 2 decades before it was redeveloped. Except during school hours, it was almost never occupied. I am not sure anyone really misses it, except in theory.
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