Archive for the 'Are you f%*#ing kidding me?' Category
Lots of people don’t want to acknowledge that real estate is unaffordable in Vancouver. They poo-poo the notion that the average person cannot afford to buy a home in this city. They argue that we’re “world class”, comparable to cities like New York and London…we should stop feeling “entitled” and accept that this is just the way it is.
However, the connection between Vancouver housing costs and what, in fact, is actually driving them still lacks transparency…and I had not heard it articulated as well as I did in Kerry Gold’s recent article in the Globe and Mail.
People keep complaining that I’m not comparing apples to apples.
Look, I honestly think that there are pros and cons to living anywhere – nowhere is perfect. But, for whatever reason, lots of people believe that Vancouver is incomparable to other places in Canada…I disagree. People live in lots of other cities in our country and for many different reasons. Yes…Vancouver is beautiful. Yes…we have a mild climate. Yes…our quality of life here is amazing! However…we also have tons of rain, out of control cost of living and…absurd property prices.
Anyway…I digress. I’m on the last leg of my cross-Canada tour. Today we’ll have a look at what your Canuck bucks will fetch you in Alberta.
First up is this $2 million home in Calgary.
We’re on to the flatlands of Saskatchewan this week. I thought instead of picking a price point, I’d have a look at what an average home costs in Regina.
Renovated Character Home – $335K
Everything in this cute family home has been lovingly restored. Complete with a large back yard for the kids to run around in. Read more…
We’re back to our cross-Canada tour and, this week, we’re headed to Manitoba. I’m told houses are pretty cheap there, so I thought I’d have a look to find what you could buy for a measly $650K in Winnipeg*.
Here’s a charming house:
This 2842 sq.ft. 4 bedroom family home features a huge eat-in kitchen, five bathrooms, double car garage and a landscaped backyard. Read more…
We interrupt our regularly scheduled programming this week to bring you what may or may not be a ridiculous rental property here in Vancouver. This one was brought to my attention by one of my twitter compadres.
The Craigslist ad reads:
$899 ★★ Furnished Studio Penthouse Hotel Room in Heritage Hotel in Gastown
Hmmm…intriguing. I haven’t rented in a while, but I’m guessing that $899 is reasonable – is it?
Here’s what it looks like:
Nice big windows, hardwood floors…and is that exposed brick I see? Very funky, indeed. Read more…
In possibly some of the worst “advice” I’ve seen someone give to first time buyers, mortgage broker James DuVuyst tells Abodable.com readers to get while the gettin’s good here in Vancouver. Ugh. Stuff like this really irritates me. Not only is it bad advice, but it’s dangerous. People are already buying and living beyond their means. Having “experts” tell them to strike while the iron’s hot, because there are still bargains to be had, seems irresponsible.
Here’s DuVuyst’s rationale for why young Vancouverites should jump on the bandwagon (is there even a bandwagon to jump on anymore??):
Interest rates are SOOOO low
Interest Rates are at all-time lows and they keep dropping depending on the lender and program. Currently, right now, you can get a 5 year mortgage, high ratio (20% or less down) at 2.79%. That’s amazing considering in 2010 rates were at 3.69% and creeping into the 4% range. This allows first time buyers who choose a 5 year term to be qualified at 2.79% on a 25 year amortization. What this does is extend your purchasing power (assuming you have the minimum 5% down). Because of this, first time buyers can qualify in a higher price range, allowing them to enter into the expensive Vancouver market. I mentioned in a previous blog to think about increasing interest rates and how it affects your budget. Don’t overextend, but always keep the thought in the back of your head, “if rates were to increase by 1% how would this affect me?” Look into the future and plan!!! Read more…
Happy Mother’s Day to all my fellow mamas out there. Every once in a while we all feel like we are failing as mothers. The images below will assure you that you are, in fact, not…unless, of course, you have done any of these things.
You are definitely winning as a mom if:
1. You aren’t a Twi-hard.
2. Your baby’s photographs don’t involve fast food props.
We’re almost halfway across Canada!! This week we’re in Ontario and, for the sake of keeping the comparisons in one area, I’m going to focus on Toronto.
First up is this gorgeous home for just over $2 million:
Located in Central Toronto near some of the city’s esteemed private schools (woo hoo!), this classic home has 6 bedrooms, a big family room, modern kitchen with breakfast area, spacious master suite with 6 piece bath, and a finished basement with nanny suite!