Just Not ready

The primary goal of this site is to provide mature, meaningful discussion about the Vancouver Canucks. However, we all need a break some time so this forum is basically for anything off-topic, off the wall, or to just get something off your chest! This forum is named after poster Creeper, who passed away in July of 2011 and was a long time member of the Canucks message board community.

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Cousin Strawberry
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Re: Just Not ready

Post by Cousin Strawberry »

How do British Columbians feel about a basic house costing over a million dollars in cow poop Chilliwack...? Or the brokenagan?

Its not sustainable. How do you all think your children will enter the housing markets? Hint...they wont be unless you sell

There will be a reckoning folks...I'd diversify out of real estate if I was some of y'all
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Meds
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Re: Just Not ready

Post by Meds »

Cousin Strawberry wrote: Tue Mar 22, 2022 11:23 am How do British Columbians feel about a basic house costing over a million dollars in cow poop Chilliwack...? Or the brokenagan?

Its not sustainable. How do you all think your children will enter the housing markets? Hint...they wont be unless you sell

There will be a reckoning folks...I'd diversify out of real estate if I was some of y'all
The great reset my friend. That's what it's called.
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Aaronp18
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Re: Just Not ready

Post by Aaronp18 »

Kids will have to move to more affordable housing areas to start or buy small. Move up the property ladder. This is nothing new.

Due to population growth, technology and transportation it makes what was seemingly rural far more accessible.

I’ve had so many people say it’s not sustainable yet we see massive growth every 5 years. Land is finite, so unless we see a mass exodus of people leaving Canada the market will probably stay strong.

Had a friend that was adamant there would be a crash and sold in 2020 to start renting. Essentially lost $800k on the current value of his home.

And the growth was seen across Canada, not just BC.

The Okanagan is expecting 50,000 more people by 2040. There’s only 350,000 here now. That type of growth will see housing costs continue to grow as well!

We’ll see more smaller places, higher density, more smaller city centres. And the increasingly rarity of single family homes with any sort of land!

Do why I’m looking for space anywhere right now. Buy land!

EDIT:
Could be between 64,000-80,000 in the next 2 decades up here. I'll be long gone by then more than likely!

https://globalnews.ca/news/7666419/cent ... on-growth/

Also Cuz, where do you think kids get their downpayment money from? Eventually we all die and assets get liquidated.
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Cousin Strawberry
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Re: Just Not ready

Post by Cousin Strawberry »

Aaronp18 wrote: Tue Mar 22, 2022 1:51 pm
Also Cuz, where do you think kids get their downpayment money from? Eventually we all die and assets get liquidated.
:wow:

So they won't be buying until they're in they're mid to late 40s?

We all bought our first homes in our 20s....that'll be a thing of the past I suppose
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Aaronp18
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Re: Just Not ready

Post by Aaronp18 »

Cousin Strawberry wrote: Tue Mar 22, 2022 3:51 pm
Aaronp18 wrote: Tue Mar 22, 2022 1:51 pm
Also Cuz, where do you think kids get their downpayment money from? Eventually we all die and assets get liquidated.
:wow:

So they won't be buying until they're in they're mid to late 40s?
Maybe but not necessarily, that may be when they can jump up a rung or two on the ladder. Or move closer to work. Or buy that rec property.

Could also be inheritance from grandparents.

There's any number of ways to save or loan the money for a downpayment.

Again, you just have to start low and work your way up!
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Meds
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Re: Just Not ready

Post by Meds »

Aaronp18 wrote: Tue Mar 22, 2022 4:00 pm
Cousin Strawberry wrote: Tue Mar 22, 2022 3:51 pm
Aaronp18 wrote: Tue Mar 22, 2022 1:51 pm
Also Cuz, where do you think kids get their downpayment money from? Eventually we all die and assets get liquidated.
:wow:

So they won't be buying until they're in they're mid to late 40s?
Maybe but not necessarily, that may be when they can jump up a rung or two on the ladder. Or move closer to work. Or buy that rec property.

Could also be inheritance from grandparents.

There's any number of ways to save or loan the money for a downpayment.

Again, you just have to start low and work your way up!
While this is certainly something that almost nobody every wants to do, it's something that the current youngsters are borderline refusing to do. They want it and they want it now, and if they can't have it then somebody is to blame for that. It's sooooooo easy for politicians to pander to these attitudes and gobble up more, and longer lasting, power via empty promises.

Also, there is a serious problem with the rate of inflation in the housing market. Pre-pandemic the average cost of a home in Canada was around $450k, it's now closer to $800k. That's insane. A 100% jump in market in just over 2 years!!! CBC reported last April that from 2020 to 2021 there was a 31% increase in 12 months. That rate is unsustainable unless average incomes are also going to see a significant boost as well.

There's a reason why the great reset theory is as believable as it is.....you price large groups of people out of the ability to own the "basics" and there's no recourse but to end up with a society that is largely government dependent.
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Cousin Strawberry
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Re: Just Not ready

Post by Cousin Strawberry »

I left Burnaby in like 99 or something because I didn't think spending 300k on a home was realistic...I bought a nice place in Osoyoos for 156k across from the lake.

I'd be retireded rolling in ridiculously overpriced Benz's like Donny if I could've stomached staying with the first exwife. My sausage led me down the wrong path
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Megaterio Llamas
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Re: Just Not ready

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JelloPuddingPop
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Re: Just Not ready

Post by JelloPuddingPop »

Mëds wrote: Tue Mar 22, 2022 4:13 pm
Also, there is a serious problem with the rate of inflation in the housing market. Pre-pandemic the average cost of a home in Canada was around $450k, it's now closer to $800k. That's insane. A 100% jump in market in just over 2 years!!! CBC reported last April that from 2020 to 2021 there was a 31% increase in 12 months. That rate is unsustainable unless average incomes are also going to see a significant boost as well.

There's a reason why the great reset theory is as believable as it is.....you price large groups of people out of the ability to own the "basics" and there's no recourse but to end up with a society that is largely government dependent.
Not sure why you are using US Dollars for your pre-pandemic house pricing... it was actually CA$ 568,758 according to StatsCan. It was up 20% from 2020 to 2021 (still a huge leap, but not 31%). These jumps in prices are felt all over Canada, but the statistics are mainly driven by Toronto, Vancouver, Ottawa, Calgary and Victoria.

If you remove these locations, housing pricing is actually going up at the same rate as the cost of new houses (driven by materials costing).

People have been predicting the bubble to burst as long as I've been a home owner, and even before then... it won't happen while interest rates are as low as they are, and we won't see 80's style double digit mortgage rates in our lifetimes.

These kids complaining about not being able to afford a house need to temper their expectations on their first house - use a bit of sweat equity to build it up, and move up the ladder as others have said. Things change. Hard work doesn't. Why are some able to afford it, but the loud minority complain "its too hard." Kids are willing to spend a year travelling, or move to some tiny town for 4-6 years getting a degree in some far off college, but can't move to a rural, smaller town to get into the housing market for a few years - then sell, and move, etc. etc.

Where there is a will, there is a way.
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Per
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Re: Just Not ready

Post by Per »

As long as there is population growth, property prices will go up. It's a law of nature.
Or, well, supply and demand really, but still.

I hear you can get a really good deal on housing in the rust belt... :look:

Oh, and it is definitely a buyers market on Crimea. You can get some brilliant deals there now.
If you're not afraid of taking on some serious home reno projects, the rest of Ukraine should be good too.

The jump in house prices was seen here in Sweden as well. It has mostly been explained that when people had to self-quarantine or work from home for a longer period you start to wish you had more space. So the demand to move up the property ladder increased exponentially. House prices in Sweden jumped 30% on average from early 2020 to early 2021. On average. In bigger cities the leap was even greater, in many rural areas prices only rose 10-20%. But yeah. A really tough market for young people looking for their first home.
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Re: Just Not ready

Post by 5thhorseman »

The vaccines are just a scheme to control population size, so nothing to worry about.
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2Fingers
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Re: Just Not ready

Post by 2Fingers »

5thhorseman wrote: Wed Mar 23, 2022 4:03 am The vaccines are just a scheme to control population size, so nothing to worry about.
I thought the vaccines were designed to put microchips in our bodies so the gov can control us.
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Re: Just Not ready

Post by Topper »

5thhorseman wrote: Wed Mar 23, 2022 4:03 am The vaccines are just a scheme to control population size, so nothing to worry about.
I've said before that Greens should have been all over the pandemic running it's natural course without human interference to give them the population reduction they strive for.
Over the Internet, you can pretend to be anyone or anything.

I'm amazed that so many people choose to be complete twats.
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Aaronp18
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Re: Just Not ready

Post by Aaronp18 »

Cousin Strawberry wrote: Tue Mar 22, 2022 4:22 pm I left Burnaby in like 99 or something because I didn't think spending 300k on a home was realistic...I bought a nice place in Osoyoos for 156k across from the lake.

I'd be retireded rolling in ridiculously overpriced Benz's like Donny if I could've stomached staying with the first exwife. My sausage led me down the wrong path
You should check prices in Osoyoos now!

If would've stayed in the market or even invested in more real estate you'd definitely be rollin in a donny Benz. That's not going to change, hop back on. And I'll be encouraging our kids to invest the same way.

Like Jello said, if there's a will there's a way. And if kids these days don't want to start small just means they'll be renting longer, can definitely attest to that. I'll happily have them pay my mortgages!
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5thhorseman
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Re: Just Not ready

Post by 5thhorseman »

Topper wrote: Wed Mar 23, 2022 7:40 am
5thhorseman wrote: Wed Mar 23, 2022 4:03 am The vaccines are just a scheme to control population size, so nothing to worry about.
I've said before that Greens should have been all over the pandemic running it's natural course without human interference to give them the population reduction they strive for.
The population reduction from covid running its natural course is negligible as far as the planet is concerned.
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