Wanna see outrageous home prices ???

Crazy Horse

Well-known Member
West coast property in Vancouver, British Columbia up here in the Great White North. Absolutely crazy prices, Asian money has driven up prices over the past 20 years to ridiculous levels, I'm not sure how anyone can even consider buying there. These are Kitsilano home listings, an area in the south part of Vancouver. Hold onto your hats boys .....
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That real high especially since there pushing 30 years old. I built mine in 03 and it 5500sq ft and have a fraction of that in mine.
 
Why would you want a place like that. There's no room to park tractors!! In southern B.C. farm prices have no relation ship to farm revenue. It is great for old guys who want out and retire. House prices in town where I live are still affordable.
Dave
 
I'm not sure I understand your point. Asians shouldn't be allowed to buy homes in Vancouver? There should be a price ceiling on Vancouver homes? There oughtta be a law? I would imagine if you own property in Vancouver you would be excited about these prices and consider selling. Depending where you were when cattle prices were high, it was the greatest thing or the worst thing. The same is true for every other market too.

I live in the SF Bay area. The prices are insane here too. I cannot afford anything here. Rents are reflective of the property prices with studios renting out starting at $1800. Wages aren't significantly higher than anywhere else USA. There are several things causing this; many people want to live here (demand), building is highly restricted by zoning, height limits (no high rises), parks (when property comes available it often becomes a park), open space (farm and ranch land development rights are purchased to prevent development), etc. (low supply). High demand and low supply will send prices through the roof. Combine that with easy credit and the market inflates. Were the market more open and free, it would right itself.
 
Well, my point is pretty simple and I think you are reading between the lines too much, maybe you are a psychologist in San Francisco? There have been several posts lately about land prices, etc. I was just putting in a link to show how high prices are in Vancouver, pretty simple, nothing more, nothing less. All your other comments about me perhaps being upset about it because I don't own property there (or wish I did) and maybe wanting to restrict Asians from buying property, etc etc are incorrect. Historically, house prices in Vancouver have been driven by Asian dollars over the past 40 years, there's no argument about that. As I said, a pretty simple post, you're turning it into a real estate thesis I think.
 
Sorry. Not picking a fight. Thanks for clarifying your position.

Yes, like you, I find the housing market and land prices interesting. It is a shocker what farmable land is in the midwest. It is nearly on par with vineyard acreage in CA (Crazy America. No. I'm not a shrink, though I may need one.). If I had 2 or 3 million for a home on a postage stamp in Mill Valley, I'd immediately be off to another state and have a farm or ranch of my own. Right now, I am here to homeschool a grandchild. As soon as I am done with that, I am out of here, for many, many reasons, not just prices.
 
Just what is the big deal about living there something is responsible for the prices there are many other places to live must just be status quo
 
I have a Sotheby's catalog for homes they have for sale in Utah. Not many are listed in there for less than $1,000,000. One small home listed, 2 bed 1 bath, 979 SF in Park City is listed for $1,150,000. That is cheap for Park City, how about this lot in Park City, .08 AC $1,200,000.
 
Our daughter was in the real estate business in Washington DC for a dozen years. Things are insane there, also.
 
(quoted from post at 08:25:02 02/24/17) West coast property in Vancouver, British Columbia up here in the Great White North. Absolutely crazy prices, Asian money has driven up prices over the past 20 years to ridiculous levels, I'm not sure how anyone can even consider buying there. These are Kitsilano home listings, an area in the south part of Vancouver. Hold onto your hats boys .....
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The good news is Canada has lots of other places to live LOL!
 
Seams everything on the west coast is pricy. Problem is the west coast is running out of good buildable parcels. Only a few empty lots available around my place. In the next town. Rockly ground that you couldn't give away 40 years ago is bringing big money. There is always land away from the coast, that is much cheaper. Then you need to drive 30 miles to shop. Stan
 
Last home I owned in Santa Clara, (Silicon Valley), California and sold in 1979, a 3 bedroom, 2 bath, 2 car attatched garage tract home built in 1958 is now valued over a million bucks... ....I sold it for less than a tenth of that.....I won't tell you what I paid for it in 1965......
 
Very interesting post and I have learned a lot. Never get to excited about comments on your posts as there are thousands of viewers and sometimes they do seem to take a different slant than you expected. Just ignore them!
 
My dear old Pa bought a house at 37th and Arbutus (Kerrisdale) in 1955 for $8,000. Took 20 years to pay off the mortgage. We grew up there. MY red headed brother sold it for $240K in the 90's. (the funds were not dispersed to ma or me- hence a problem, but not germane here), Today's price is $1,7M ! It's an old 2 story above ground on a 33' lot for gosh sake, probly burn to the ground in 5 mins. or less. Thought about it when the ijit was living there.
 
I'm one of the few on here who know exactly where that is Bob. It's a shame you don't have it now for the investment... but all of Vancouver has changed. While I still like visiting there regularly, and fortunately we can stay at my parents or sisters place, I am very happy we live on the island now.
Grant
 

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