51 replies to this topic

[UrbanRail]

Here is a question to you. Should the region do more with federal and provincial help to solve the housing affordability issue? What I am getting at is the market has clearly failed as well as our elected officials (mostly provincial and federal) in dealing with the housing issue. Now I know the provincial government announced money recently (election bribery), but should it take an election year for government to respond? The last Coops were built in the 80s and it was the liberals that started the funding cuts with the conservatives following suite.

In my opinion homes and property are way over valued in the CRD and lower mainland. But unfortunately we can't change that or can we?

Should developers do more ( yes there are rentals being built but even their so called affordable rentals aren't really affordable.)

My wife and I were victims of being evicted this past May because of complains of parking issues, it was an illegal suite (run by Newport) and Saanich forced the new owners that bought the house we were living in to go back to a duplex from a four plex. We fortunately found a place but many aren't so lucky.

Shouldn't there be a cap on prices?

Your thoughts?

[Sparky]

For what it's worth Aaron, why should the government even be in the housing business? how would you like it if they were in the graphic art business and offering their service for less than you can provide it.

 

Likewise (and I know I will get flack for this) why should the government be dictating rent increases? Why not let supply and demand dictate the price? When prices go up then more product will be built....then there will be competition.

 

If the price of rental property is regulated to increase 2-3 % per year, sooner or later that rental property may not be viable anymore. Why don't they cap heating oil or gasoline or electricity?

[LJ]

Sparky, on 30 Oct 2016 - 8:31 PM, said:

For what it's worth Aaron, why should the government even be in the housing business? how would you like it if they were in the graphic art business and offering their service for less than you can provide it.

 

Likewise (and I know I will get flack for this) why should the government be dictating rent increases? Why not let supply and demand dictate the price? When prices go up then more product will be built....then there will be competition.

 

If the price of rental property is regulated to increase 2-3 % per year, sooner or later that rental property may not be viable anymore. Why don't they cap heating oil or gasoline or electricity?

Or taxes!

[G-Man]

No there should not be a cap. Just more supply to ease prices.

[LJ]

If the house prices in Victoria were not affordable the houses wouldn't be selling. If the houses weren't selling the prices would come down. Neither of those things are happening.

[SamCB]

The solution is to remove the stupid height restriction downtown. Let developers build tall condos with hundreds of units of housing on a small footprint. We have high demand and low supply. A shitload of condos is the only solution to the problem.

[Sparky]

It's no big deal to ask $3-4K per month to rent a house in Santa Barbara.

http://www.zillow.co...ca/rent-houses/

 

New York, Tokyo, London, San Fransisco out of this world. Victoria is one of the most popular cities in North America to live in. I think living here is too cheap.

[Love the rock]

Rents are high ...but lots of costs homeowners have renters have no idea about .
Example I have a friend who is saving to buy a free standing house right now .
He's not one to part with money at all.
I commented that he needs to figure in about two hundred plus a month on taxes .
He said WHAT ?,why's that . Do you mean house insurance? No taxes .Really ?
Saanich water bills are high ,they are replacing old infrastructure which makes it even higher now your garbage is on there too .
It used to be in with property taxes, taxes never went down when
it went on water bills .
Hydro is going up even more ,they have upped house insurance prices because we are in a earthquake zone .
Maintaining and maintenance ,I think everyone is paying more renters and owners .
Appliances and water heaters don't last long anymore
I wouldn't mind if they froze rents long as they freeze mortgage rates , property taxes ,hydro , water ,garbage and insurance .
I don't have gas but freeze that too .
It would be kinda nice to know what I'm going to be paying .

[VicHockeyFan]

For what it's worth Aaron, why should the government even be in the housing business? how would you like it if they were in the graphic art business and offering their service for less than you can provide it.

 

Likewise (and I know I will get flack for this) why should the government be dictating rent increases? Why not let supply and demand dictate the price? When prices go up then more product will be built....then there will be competition.

 

If the price of rental property is regulated to increase 2-3 % per year, sooner or later that rental property may not be viable anymore. Why don't they cap heating oil or gasoline or electricity?

 

I agree.

 

Nobody is suggesting affordable housing for Uplands, or Dean Park.  Why should any geographic area get "affordable" housing that's under market rates?  All it means is that somebody else subsidizes it, the "government" or "developers" have no money of their own.    

 

And cheaper housing is available all over this country.

[lanforod]

Rents are high ...but lots of costs homeowners have renters have no idea about .
Example I have a friend who is saving to buy a free standing house right now .
He's not one to part with money at all.
I commented that he needs to figure in about two hundred plus a month on taxes .
He said WHAT ?,why's that . Do you mean house insurance? No taxes .Really ?
Saanich water bills are high ,they are replacing old infrastructure which makes it even higher now your garbage is on there too .
It used to be in with property taxes, taxes never went down when
it went on water bills .
Hydro is going up even more ,they have upped house insurance prices because we are in a earthquake zone .
Maintaining and maintenance ,I think everyone is paying more renters and owners .
Appliances and water heaters don't last long anymore
I wouldn't mind if they froze rents long as they freeze mortgage rates , property taxes ,hydro , water ,garbage and insurance .
I don't have gas but freeze that too .
It would be kinda nice to know what I'm going to be paying .

 

Yep. For a SFH, 200/mo on taxes is probably on the very low end too, depending which municipality and house value.

[Mike K.]

Very, very low end if you're paying $200/month in taxes. Small condos go for about $100/month in the core.

 

You're likely looking at $300-$375 per month in tax if you want to live in the urban core of the region.

 

Throw in $125/month in insurance, $100/month for water/sewage/municipal, $250/month in gas/electricity and you're looking at $775/month just to keep the lights on.

[lanforod]

Very, very low end if you're paying $200/month in taxes. Small condos go for about $100/month in the core.

 

You're likely looking at $300-$375 per month in tax if you want to live in the urban core of the region.

 

Throw in $125/month in insurance, $100/month for water/sewage/municipal, $250/month in gas/electricity and you're looking at $775/month just to keep the lights on.

 

That's all about right, though gas/electric is around to $150/mo for me in a 2800 sq ft house (electric baseboards, electric hot water, gas fireplaces). Would depend on the house setup and efficiency.

[Mike K.]

Oh wow, that's pretty efficient for such a large home.

[Love the rock]

That's all about right, though gas/electric is around to $150/mo for me in a 2800 sq ft house (electric baseboards, electric hot water, gas fireplaces). Would depend on the house setup and efficiency.

I used a low ball figure but I did say 200+ Even with that low ball amount I don't think he believes me .
Many renters don't see the whole picture especially if you're used to living in an apartment where utilities are lower because heat is generally included and you have many inside walls heated by neighbors or have utilities included in their rent .

[LeoVictoria]

For what it's worth Aaron, why should the government even be in the housing business? 

 

Prices are so high partially because the government is in the housing business (CMHC) and takes on all the risk at below free market rates.   Sure, let's get the government out of the housing business, prices would certainly be lower.

[VicHockeyFan]

I used a low ball figure but I did say 200+ Even with that low ball amount I don't think he believes me .
Many renters don't see the whole picture especially if you're used to living in an apartment where utilities are lower because heat is generally included and you have many inside walls heated by neighbors or have utilities included in their rent .

 

This guy needs a reality check.  Does he not have friends or relatives that own their own homes, to set him straight?

[UrbanRail]

Thanks just wondering.

[UrbanRail]

I agree.

 

Nobody is suggesting affordable housing for Uplands, or Dean Park.  Why should any geographic area get "affordable" housing that's under market rates?  All it means is that somebody else subsidizes it, the "government" or "developers" have no money of their own.    

 

And cheaper housing is available all over this country.

 Yeah my wife and I are thinking of buying in the westshore because the housing is cheaper

[sdwright.vic]

^Developers make a pretty profit. That is their own.

[UrbanRail]

For what it's worth Aaron, why should the government even be in the housing business? how would you like it if they were in the graphic art business and offering their service for less than you can provide it.

 

Likewise (and I know I will get flack for this) why should the government be dictating rent increases? Why not let supply and demand dictate the price? When prices go up then more product will be built....then there will be competition.

 

If the price of rental property is regulated to increase 2-3 % per year, sooner or later that rental property may not be viable anymore. Why don't they cap heating oil or gasoline or electricity?

you make a good point.

 

Actually I havent found a lot of work in the graphic art business, much what I do is probono work for now.