LMD Housing
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Thread: LMD Housing

  1. #1
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    LMD Housing

    Is it really an issue? Are prices that bad?

    I've lived here for some time. When we moved to this bucolic corner of BC, we knew the prices were high and would have to adjust to it. I live on the south side of the Fraser because that's where work takes me. But if I didn't, I know I wouldn't be able to spend seven figures on a single family home ....... that's just part of being a blue collar guy. Looks like it would be condo life for me. Sure,it's not cheap, but other than relocating, what are our choices?

    I keep seeing how people are demanding that affordable housing be built. Is it big brothers responsibility to house the average person? And if so, those 400-500 housing units will take several years to build. In the meantime, where will these people live. And by the time they are built, there will be even more people looking for homes. Even if 1500 housing units were available tomorrow, what is the percentage of those looking that this would assist?

    But for those of you are that are in the midst of buying/renting/searching for housing, how bad is it? When I watch the news it seems that nobody can buy anything and there it something like eleventy billion empty residences in Vancouver.

    I look forward ward to hearing from members about their experiences and ideas.

  2. #2
    Registered User Array Squint's Avatar
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    Really an issue? Hah yes of course it is.*

    I'm lucky enough to have gotten in just before it went nuts (east vancouver). Friends in the same phase of life (small kids) who have houses also bought 10 or so years ago, bought small with the plan to move up as needed, no chance. *Problem is you're not competing with other people in the same situation, you're competing to buy a house with developers or investors with deep pockets. Really difficult for "regular people" to win in those situations.*

    There's a house across the street, one bedroom and den (yes one bedroom) listed and sold for 1.25m. Likely it will be torn down and some 4000sf POS built in its place with two suites plus a lane way, for better ROI. And it will sell for 2m or more. So a house that a young family could barely dream to own at 1.25 is now in forget-about-it territory. I've seen in plenty of times in this neighbourhood. *

    It's not really about supply, there's been plenty of supply built in this city in the last decade (condo that is) but even more big money demand. And businesses that already have trouble competing with other provinces for employees due to cost of living are now really struggling to attract people, especially mid-level jobs.*

    Housing is supposed to be for people to live in, but it's turning into an investment business here.

    But yeah I'm torn on the role of government here... market supply and demand after all, but if we want this to remain a city (or region) that the average person can live in and raise a family, something has to move. This 15% tax maybe has made a difference, but a real estate agent friend of mine said it started to slow after Brexit as the big money took a pause to see how it would shake out. And frankly... when something on the other side of the world affects buying a house here... that's messed up.

    Personally i'd love the city to severely clamp down on the 3 houses/day that are torn down here. Smaller, really well built, well maintained houses with character that are barely affordable but a lucky family could have gotten in to are going to the dump. Should be criminal.*

  3. #3
    Fastronaut Array Danke's Avatar
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    I came to Vancouver in the 90s as a dirtbag couch camper ready to live the dream. I'd see houses in Kits back the for 100K and say it was nuts. A decade later I lived the dream and before heading off to the interior I was looking at million dollar condos thinking what a steal of a deal!

    It's like boiling a frog.
    Fill the house with bees.

  4. #4
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    Wow, $100K for a house in Kits. Where that damn time machine when you need it.*

    For people working in the city, is the commute that bad that prevents buying south of the Fraser? No doubt it's brutal, but condo vs house living ...... we all have trade offs we can live with. *

  5. #5
    Registered User Array cvrle1's Avatar
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    Personally I dont want to live in a single family home. Not for me. I lived in condo my whole life since I was born, so I have no issues with it. There is good with the bad. I am in same situation that Squint mentioned. looking to upgrade to something bigger, good luck. I work in BBY (when not working from home) and would not want to travel there or take transit in rush hour. I go against the traffic every day so it is nice and easy commute. Spending hour each way in traffic to drive 30km every day, no thanks.

  6. #6
    Registered User Array HighZoot's Avatar
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    commute? is an hour in traffic worth a million + dollars?

    i dunno i live where I can afford to.. beggars cant be choosers. ill stick to my 3 hour daily commute.




    is our housing bad? no not really.. on the world scale it's pretty cheap

  7. #7
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    One fellow where I work comes for a week or two at a time from the lower main land.

    He would rather drive the 12 hour round trip than fight the traffic every day.
    There are old riders and there are bold riders. There aren't any old, bold riders.

    Ride safe folks.

  8. #8
    Registered User Array bandito's Avatar
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    Quote Originally Posted by HighZoot View Post
    commute? is an hour in traffic worth a million + dollars?

    i dunno i live where I can afford to.. beggars cant be choosers. ill stick to my 3 hour daily commute.




    is our housing bad? no not really.. on the world scale it's pretty cheap
    What on earth are you talking about. Our housing is cheap compared to where?

    It's ranked #1 in over valued globally at the moment.
    Long Live Shervin Of The North!

  9. #9
    Registered User Array HighZoot's Avatar
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    value =/= cost.



    look at a major city... london, hong kong, sydney, new york

  10. #10
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    Prices aren't as cheap as other places, but they aren't yet at the unobtainable level. I appreciate that the price may be high for some starting out, or restarting out, but it isn't getting any cheaper. *

    Having not lived in a condo or apartment for over 25 years, it would be just as big an adjustment for me as to get in one as it would be for you to move out of one, cvrle1.*

    *

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