Canada's 'housing bubble' deemed close to bursting

[sunsetmountainland]

Originally Posted by theman23

I don’t know, I usually don’t take predictions of the future seriously from people who have no grasp of the present or past.

But I do find it a bit odd how delighted you are at the thought of Trudeau “destroying” this country. Combined with your broken English, I have to wonder exactly what your stake is in Canada?

I am delighted for you to find humor in such a dysfunctional government in Canada! Every Canadian has a stake in Canada. What is your stake in Canada? Do you wish it too be falling badly under a Trudeau government?

[theman23]

Yeah whatever.

[sunsetmountainland]

Originally Posted by theman23

Yeah whatever.

I suppose a traditional Trudeau supporter answer! Thanks for the chance to chat buddy!

[theman23]

No, I just don’t have the time to give you an English lesson so you could understand your own posts.

[sunsetmountainland]

Originally Posted by theman23

No, I just don’t have the time to give you an English lesson so you could understand your own posts.

So when you give in that is what you have to say? You cannot understand english? I suppose I will give you the benefit of the doubt since english is not your first language.

[north 42]

Originally Posted by theman23

I don’t know, I usually don’t take predictions of the future seriously from people who have no grasp of the present or past.

But I do find it a bit odd how delighted you are at the thought of Trudeau “destroying” this country. Combined with your broken English, I have to wonder exactly what your stake is in Canada?

[Pinion]

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[mistercorporate]

Originally Posted by Pinion

His stake is in BC real estate, as has been made clear from his many posts trying to preserve the status quo. Just another parasite.

This.

[Pinus]

Originally Posted by sunsetmountainland

I am delighted for you to find humor in such a dysfunctional government in Canada! Every Canadian has a stake in Canada. What is your stake in Canada? Do you wish it too be falling badly under a Trudeau government?

Humour

[dleung]

Originally Posted by dleung

We're ALL the 1%



http://www.vancouversun.com/story.html?id=16688701

oops, pic never loaded

[casper]

Originally Posted by dleung

oops, pic never loaded

Interesting map. It basically shows just how little of the region is allocated to single family residential.

Some options to address the housing crisis:
- Redevelop Bowen Island. - Open that up would provide a significant inventory of property for single family homes that is accessible to downtown Vancouver by fast ferry in under 30 minutes.
- Open up more space up and along Indian Arm
- Expand residential on Sea Island
- Semiahmo and a number of first nations area in the region could be developed if the local councils were interested
- There is a lot of parkland. I know this not popular, but could some that be sacrifised to create single family lots. Belcarra for example.
- From a food security perspective I would hate to see the Agricultural Land Reserve touched, even some of house smaller plats have significant strategic value from a food security perspective.

[GreaterMontréal]

sales drop in Calgary yoy (-18%),
http://www.cbc.ca/news/canada/calgary/re...algary-february-report-alberta-1.4562328

Toronto
http://www.macleans.ca/economy/realestateeconomy/gta-real-estate-sales-falling/

for Vancouver , only 130 homes sold in the entire month of February, the worst sales volume since 1991.

GMA +5% in February y-o-y , active listings -17%.

median price of SFH's in the GMA was $310,000 in February, +6% y-o-y , Plexes $481,000, +1%

[Pinion]

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[lio45]

Originally Posted by casper

Interesting map. It basically shows just how little of the region is allocated to single family residential.

My immediate reaction to this map is the opposite: I'm shocked by how much of inner city Vancouver is allocated to single family residential.

Second reaction however is similar to yours: the outer "disc" of abundant cheap SFHs with long commutes as their tradeoff you usually find in a North American metro area isn't there.

[lio45]

Originally Posted by dleung

oops, pic never loaded

Something that always bugged me with that map: there are obviously three shades of grey on it, but only two are explained in the map legend. Pretty big fail on the part of the map creator.

[CanSpice]

Originally Posted by casper

Interesting map. It basically shows just how little of the region is allocated to single family residential.

How little? More like how much. The light grey is off limits -- ALR, parks, mountains. The two darker greys look to be industrial, commercial, and multi-family residential. Everything else -- 70% of Vancouver alone -- is single-family housing, and there's way too much of it.

You want to improve the housing situation? Just from the supply side, take a huge bite out of that SFH and upzone it to MFH. This map shows just how much room there is to densify in.

[someone123]

Yeah, in the end metro Vancouver land use is dominated by two policies that are at odds with each other. The total amount of developable land is constrained by laws meant to preserve land for agricultural use, and then what is left for development is constrained by zoning meant to preserve low density residential neighbourhoods.

On top of this we have policies that are designed to encourage population growth and investment in real estate. It is a recipe for expensive housing.

[Pinion]

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[csbvan]

Interesting, RBC is suddenly concerned about foreign buyers using Canadian homes as "piggy banks":

Foreign inflows are distorting Canada’s already constrained housing market and aren’t the kind of investment the country needs, the chief executive officer of Royal Bank of Canada said.

“We do not need foreign capital using Canadian real estate as a piggy bank,” David McKay, said Tuesday at a bank conference in New York hosted by the Toronto-based lender. “If capital is coming in to sit in a home, unproductively, and is distorting your marketplace and the livelihood of your residents — no thank you.”

McKay, whose bank is Canada’s largest mortgage lender, says he’s supportive of government taxes and other measures targeting foreign buyers, as well as other regulatory efforts to cool the country’s housing market. He’s seeing some impacts from these rule changes, with “a little bit more healthy dynamics.”

...

http://business.financialpost.com/news/f...adian-homes-as-piggy-banks-rbc-ceo-warns

[Pinion]

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