Vancouver homes at rock-bottom prices.

[iGas]

PHOTOS UPDATED: 30 Vancouver homes at rock-bottom prices, and they are not exactly prime or down town locations.

$689,000 after price drop.

 

[mmntech]

Housing prices are out of control in Canada. Vancouver is the worst of it though. It's gotten to the point where middle income people can no longer afford to buy a home. Most of the property gets bought up by rich foreigners. Mind you the market has cooled off significantly since the Feds changed mortgage rules to require a mandatory 20% down. Vancouver prices are taking a nose dive. Once people sell their house and pay off the mortgage, there's not much left over for the down payment on a new one.

 

[GagHalfrunt]

The amazing part is that the bubble has burst in Vancouver and prices are in freefall. A year ago those prices would have been 10-15% higher.

 

[iGas]

Photos: Vancouver's 10 priciest home listings

$15,800,000

 

[Imp]

Hillarity considering Vancouver's population... Let's see how low it can go.

Interest rates haven't even risen yet, and crashes are lovingly self-fulfiling. Job market is not looking good either.

 

[Doppel]

Major fvcking housing bubble in Vancouver (less so but still overpriced throughout Canada). Canadians don't like to learn lessons from stupid greedy Americans, though, so they will have to learn them for themselves.

 

[Imp]

Major fvcking housing bubble in Vancouver (less so but still overpriced throughout Canada). Canadians don't like to learn lessons from stupid greedy Americans, though, so they will have to learn them for themselves.

It's different here, stupid. Ya know? We have like a totally solid banking system that didn't crash when the rest of the world's banks did, and we don't have sub-prime mortgages.

No, we just have a government backed corporation that doles out 600 billion in mortgages on 20 billion or less in assets. We totally didn't jack up our mortgage limits to 35 or 40 years and 5% down before lowering them back to 25... Yo.

I can't wait for this shit to crash.

 

[IronWing]

Cue the Canadian realty types to explain that it's totally different there and that the realty bubble that infected the US, Europe, South America, Africa (yes, really), the Middle East, and China has no bearing whatsoever on what is happening in Canada. Canadians are too smart and pure to allow a bubble like that.

 

[The_Dude8]

holyshit, that is one ugly ass house for $600K.

 

[dighn]

fuck these prices. really. it's all a goddamn joke.

 

[jlee]

Photos: Vancouver's 10 priciest home listings

$15,800,000

I'll take this instead, thanks.

 

[Tequila]

Wow just wow. These are some of the ugliest homes I've seen in a long time. Most look like homes you'd find in Flint, MI lol

600k+ for these shitholes. Who is stupid enough to buy these?

 

[Red Squirrel]

I would not call $689,000 rock bottom prices lol

I wish the house values would start going down here. Mine just went up by 41k in 4 years. Just got my assessment from mpac. That's not even considering any work done on the house (which would make it even higher) it's just the normal inflation based on the property itself. I'm already paying enough taxes FFS. It's almost as much as the mortgage. If the city stopped wasting so much money on stupid stuff they would not be in a deficit. If a snow plow is making sparks, it probably does not need to be out.

 

[Imp]

I would not call $689,000 rock bottom prices lol

I wish the house values would start going down here. Mine just went up by 41k in 4 years. Just got my assessment from mpac. That's not even considering any work done on the house (which would make it even higher) it's just the normal inflation based on the property itself. I'm already paying enough taxes FFS. It's almost as much as the mortgage. If the city stopped wasting so much money on stupid stuff they would not be in a deficit. If a snow plow is making sparks, it probably does not need to be out.

Municipalities usually pay stand-by charge, which is 90% of regular snow year charge. Torona had a "dry" year and I remember the TV said the plowing contractors got paid $48 million versus the regular $55 or something. Yay for lump sum contracts.

 

[zanejohnson]

jeez.. the housing bubble is basically over here in texas.. i sit in a 3k sq ft home, an hour away from dfw metroplex, i paid about 100k.. 10 years ago.... it's worth 500k now...

man i got so lucky.. the tides have turned in my life finally..

 

[rommelrommel]

A lot of those houses are in uh... less than desirable areas too lets say.

You think that's insane... Vancouver's OUTER suburbs are still 300k+ for pretty much any old shack.

 

[SSSnail]

Blame the stupid communists from far east for that.

 

[Colt45]

Yeah, Vancouver is pretty insane. Declining, though.

At least it's Vancouver, though. What's really crazy is $300k+ average house price in places like Winnipeg and Regina.

 

[Pr0d1gy]

Photos: Vancouver's 10 priciest home listings

$15,800,000

Wow, $15 mil for a cottage, way to think it out. The world has lost it's goddamn mind.

 

[Eug]

Just note that it's irrelevant if the house is there is not. The prices listed are land values, and those ugly homes there are completely worthless.

 

[IndyColtsFan]

Photos: Vancouver's 10 priciest home listings

$15,800,000

I'd really like to see the specs on that house because at first glance, it is a dump compared to my place and I didn't pay $16 million for mine. As far as those other "modest" $700K homes in that article, I wouldn't let my dog live in them.

This is an example of what $700K buys you in my market:

http://mibor.ws.marketlinx.com/prop/en-us/inr/21180038


No $16,000,000 homes in my market that I can find, but here is a $2 million home that has nearly 30,000 sq. ft (too gaudy for my tastes though):

http://mibor.ws.marketlinx.com/prop/en-us/inr/21160513

And another, but this one "only" has 12,000 sq. ft:

http://mibor.ws.marketlinx.com/prop/en-us/inr/21103342


I'll stop bragging (and laughing at other housing markets) now.

 

[IndyColtsFan]

Wow just wow. These are some of the ugliest homes I've seen in a long time. Most look like homes you'd find in Flint, MI lol

600k+ for these shitholes. Who is stupid enough to buy these?

Those dumpy $700K homes would probably be $20K-$50K homes here.

 

[IronWing]

Photos: Vancouver's 10 priciest home listings

$15,800,000

There is kind of an oceanic feel to that pic. Is the house on the waterfront?

 

[Eug]

Like I said, the house is irrelevant on most of those lots. In fact, sometimes it could be slightly more expensive for an empty lot (if the lot is otherwise identical), since it costs $10000 to tear down those old crappy homes.

Almost nobody will be living in any of those homes after they're purchased. Except for that multimillion dollar waterfront home, they're pretty much all teardowns. At best, they'll be a gut with a new 2nd floor attached, but usually not because they're in such bad shape and so old.

This is an example of what $700K buys you in my market:

Yeah, but you live in Indianapolis.

There are a LOT of places in Canada that are much, much, much cheaper than Vancouver, but people would rather spend 3X as much and live in Vancouver.

Personally I thought pricing in Vancouver was crazy too, but even then I would rather rent there than move to some cities. For example, it's cheap as borscht in Windsor, but I'd rip all my hair out of I had to live there.

http://www.cbc.ca/news/offbeat/story/2012/11/15/wdr-stephen-colbert-windsor-winnipeg-attack.html

 

[IndyColtsFan]

Yeah, but you live in Indianapolis.

There are a LOT of places in Canada that are much, much, much cheaper than Vancouver, but people would rather spend 3X as much and live in Vancouver.

For the money I save living in Indy, I can travel anywhere in the world. Indy is a great city and the place I work is nationally (globally?) known and we hire from all over the nation and people love it here.