Burned down house listed for almost $4M

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goldfish21
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22 Aug 2018, 12:39 am

This is our lovely real estate market:

https://www.ctvnews.ca/canada/burned-do ... -1.4062003

This neighbourhood is where the original hippies were in the 60’s/70’s. It’s yuppies and foreign investors now I guess. Lots of the older homes have been split up into like 8-10 bedrooms and rented to as many people. It’s a nice area, has a beach etc and is about a 10 min drive from the beach I go to.

Still, though, wtf Vancouver.


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Tim_Tex
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22 Aug 2018, 4:13 am

New Zealand has a good solution:

https://www.washingtonpost.com/amphtml/news/morning-mix/wp/2018/08/16/faced-with-an-affordability-crisis-new-zealand-bans-foreigners-from-buying-homes/?noredirect=on


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goldfish21
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22 Aug 2018, 6:57 am

We do have some foreign buyers taxes and we finally have a provincial government that's investigating this whole mess and the money laundering that comes with it.. but still, it's one of those "closing the barn door after the horse got loose," kind of things - it's way too f*****g late. The regular 11 year old suburban home I live in about an hour's drive from downtown on a postage stamp of land is now "worth," $1.1-1.2M. This is where the regular working class people are supposed to live.. there is literally NOTHING left that a working class person can afford to buy and raise a family in. If you're making average money for this province ($53K) you'd be hard pressed to buy much more than a stuido, or maaaaaybe 1 bedroom, condo in the far very distant suburbs.. like 1.5-2h commute territory.

This place has gone full retard. You're NEVER supposed to go full retard.


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LoveNotHate
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22 Aug 2018, 1:05 pm

goldfish21 wrote:
The regular 11 year old suburban home I live in about an hour's drive from downtown on a postage stamp of land is now "worth," $1.1-1.2M.

Congrats.

Will the increased property taxes force you out?


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goldfish21
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22 Aug 2018, 2:32 pm

LoveNotHate wrote:
goldfish21 wrote:
The regular 11 year old suburban home I live in about an hour's drive from downtown on a postage stamp of land is now "worth," $1.1-1.2M.

Congrats.

Will the increased property taxes force you out?


No. They are higher, but property taxes are distributed based on the % of the total area your property is worth, not just purely on its value. Also, it’s my parents house, and I think they now get some sort of seniors grant on their property taxes. It’s still manageable for now, especially as my income rises and I can afford to pay them higher rent.


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