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Misslizard
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20 Nov 2022, 11:06 am

I think real estate shot through the roof everywhere it’s nice to live.
Thirty years ago I paid $18,000 cash for an unfinished house on twenty acres.
A rough cabin on 60 acres near me is now listed for $500,000 and there is no water available, they will have to drill a well.


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goldfish21
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20 Nov 2022, 11:44 am

Misslizard wrote:
I think real estate shot through the roof everywhere it’s nice to live.
Thirty years ago I paid $18,000 cash for an unfinished house on twenty acres.
A rough cabin on 60 acres near me is now listed for $500,000 and there is no water available, they will have to drill a well.

While it’s gone up significantly percentage wise, it’s still dirt cheap when compared to the expensive parts of the USA and Canada. $8k or so an acre is sweet f all.

Even with prices starting to fall here with rising interest rates, a 1/4 acre building lot in the suburbs with a pos old house on it ready to demolish and build something new is still $1.4M and then another several hundred thousand+ to build a house.

About 7 years ago the average construction cost for a new (regular 3000-3500sf, not a mansion) house in Vancouver with the expected finishings was $1M for materials & labour.

Acreage where you are has gone up about 9x in 30 years, but housing here has gone up about 20x over the same time period.

It’s all nuts. Waiting for Tyler Durden to reset everything. :D


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Misslizard
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20 Nov 2022, 12:23 pm

What’s happening now is many homes are being bought and turned into nightly rentals by out of town owners since this is a scenic area.
Many local people can’t find reasonable rental homes.


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goldfish21
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20 Nov 2022, 1:38 pm

Misslizard wrote:
What’s happening now is many homes are being bought and turned into nightly rentals by out of town owners since this is a scenic area.
Many local people can’t find reasonable rental homes.

Yep, same here.

Which is why so many people are homeless living in vans or tents etc.

Tons of people barely hanging on by a thread, too. Like never mind missing a paycheque, miss one or two days of work and they can’t make rent and they’re out on the street.


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ToughDiamond
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20 Nov 2022, 2:08 pm

MaxE wrote:
ToughDiamond wrote:
It's 10.55pm here, so I'll take that as a "good evening." But good morning to you.

You live in Newfoundland? I had thought you lived in the UK, sorry!

USA currently. UK occasionally these days. Still getting used to the idea that the UK isn't entirely my home any more.



ToughDiamond
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20 Nov 2022, 2:14 pm

MaxE wrote:
MaxE wrote:
ToughDiamond wrote:
It's 10.55pm here, so I'll take that as a "good evening." But good morning to you.

You live in Newfoundland? I had thought you lived in the UK, sorry!

OK so when I posted that it was 22:10 here so in the UK it would have been like 3 the following morning. I was confused because your response seemed roughly one half hour off which made me think of NFLD. TBH I suck at mental arithmetic but I had thought you were British.

Ah.....I typed in the time when I'd just started writing my post, but posted it some time later, and didn't think to update the time. Sorry about the confusion I caused.

I am indeed British, technically.



ToughDiamond
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20 Nov 2022, 2:20 pm

kraftiekortie wrote:
I’m thinking ToughDiamond lives in the Mountain Time Zone, two hours behind the Eastern Time Zone, where I reside.

It's now 1.19pm here, and this time I'll post this quickly so that it remains an accurate statement. I don't exactly know what time zone I'm in, but it's the one that's 6 hours behind Greenwich Mean Time except for about a week every year when they change the clocks on a different day here to what they do in the UK.



kraftiekortie
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20 Nov 2022, 2:52 pm

Central Standard Time, I believe.

It’s currently 2:53 Eastern Standard Time.



ToughDiamond
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20 Nov 2022, 3:26 pm

kraftiekortie wrote:
Central Standard Time, I believe.

It’s currently 2:53 Eastern Standard Time.

I just found out that you're correct, I'm in CST.