the thirties grind

Absurd Vancouver Property of the Week (August 30th, 2012)

I love heritage-style homes.  There is something about the old world charm paired with modern fixtures and finishings, that appeals to me.  Often, however, homes like these come with a hefty price tag (depending on how Absurd the market is where you’re looking).

In Calgary, you could purchase this restored 100 year old home for $649, 500:

Yes, it’s and old timer, but it’s solid and has 3 bedrooms, 2 bathrooms and a good sized lot for the kiddos to play in. Read more…

Absurd Vancouver Property of the Week (August 23, 2012)

I awoke this morning to rain.  For some reason, Porky Pig’s voice from the old Looney Tunes cartoons was in my head…

Is that all? Are the curtains closed on our summer here in Vancouver?  My thoughts turned to warmer climates…and, of course, houses.  What if summer never had to end — where would you live? Read more…

Absurd Vancouver Property of the Week (August 2nd, 2012)

“I wanna be a millionaire so freakin’ bad”…then I can live in a million dollar house, yo.

Like this one in Calgary, Alberta:

This 1912 two-story character home has been totally renovated to brand new with impeccable attention to detail. Read more…

What’s up, Vancouver? Why can’t you behave nicely and enjoy the party?

Yesterday evening, we were down at Lacarno beach with another couple and their kids. We had a lovely time playing in the sand, swimming and lapping up the sun (Yes!! Sun!!). At around 8 PM it was time to pack it up. Our kids are still young and they were “done”.  As we headed back to our cars we noticed an unusual amount of loud, obnoxious groups of younger people. Guys in Tap Out shirts and embroidered jeans puffing out their chests, dropping more f-bombs per sentence than you would think possible — and girls, trailing behind them, rolling their eyes and (I imagine) wondering how on earth they got so damn lucky. Then, the giveaway: guy hunched over puking in the middle of the sidewalk…yep, it was fireworks night in Vancouver. Read more…

Absurd Vancouver Property of the Week (July 25, 2012)

The mobster, the sexy lawn boy and the princess…what do these three have in common?  Homes worth $2.2 million dollars, it would seem. Read more…

Absurd Vancouver Property of the Week (July 11, 2012)

It’s a buyer’s market in Vancouver.  You know what that means, right?  Not a whole heck of a lot for the average person…nevertheless, as we see prices deflate ever so slightly and product on the market increase – perhaps we can dream of owning a little piece of 604 paradise.  Let’s say you’ve been waiting for your golden opportunity to buy that dream home of yours and you have modest budget of about $3 million…you could buy this: Read more…

Is Keith Roy the Jerry McGuire of Vancouver Real Estate?

Although I am not a huge Tom Cruise fan, one of my all time favorite cheese-ball movies is Jerry McGuire.  I love the story of the unethical wheeler-dealer who switches gears in the interest of getting back to being human and doing “good business.”  Recently I (and many others) saw a local realtor make a bold move.  When the REBGV and media are saying BUY, he is saying SELL.  I read Keith Roy’s blog post with a critical eye and was speculative about what his true intentions were.  I wanted to know more about what compelled him to write what he did, considering most of his professional industry is trumpeting the exact opposite of what he is.  Today his post has been edited on his site, saying the original “… was deemed by some of my colleagues to be disrespectful to the industry of which I am a part.”

Was it about “help me help you” or is Roy cleverly marketing himself to a demographic that are thinking this is their last opportunity to cash out before a crash?  You be the judge and read my interview with Keith. Read more…

Can I get a side of fries with that? What will be the effect of the Sandwich Generation’s delayed retirements…

A recent report stated that “…one-in-six Canadian workers are now over the age of 55 and are working longer hours and not planning on retiring anytime soon.”  With many people waiting until later in life to have children, we can expect more of this as the Sandwich Generation (called this because they are caring for elderly parents as well as their own children) get stuck between a rock and a hard place.  Good news, they can expect to live longer, bad news – they have to ensure they have the means to look after themselves financially for the duration of their (long) lives.  Then add in the demands of their aging parents as well as children who may require assistance (either financially, or by living at home for longer) in a tough economy and we can see why this group is feeling squeezed.  It is understandable that they would want to delay retirement in order to ensure they set themselves up properly.  Also, this is a demographic of people who, in my opinion, love their careers, working, being active and involved.

Aside from the effect this has on the Sandwich Generation themselves, what does their longer working life mean for others?  I would bet it will mean less room for upward movement for those in the middle stages of their careers (likely those in their 30s and 40s).  Living in one of the most expensive cities in North America, which also boasts some of the most stagnant salaries is a definitely a challenge.  Combine that with a potential lack of opportunity to “move up” in your career and it makes the future seem somewhat uncertain.

I’m not saying that an entire generation of folks should be forced into retirement – they deserve (and NEED) to earn a living and support themselves as much as the rest of us do…but I am just wondering what others think about this phenomenon and what kinds of effects it will have?  If freedom 55 has changed to Freedom 65 or 70 – what does that mean for the future of our workforce, our economy and our livelihoods?

Absurd Vancouver real estate inspires a song…

Buyer’s market? I ain’t buyin’ it…

Featured today in 24 Hours Vancouver

The latest real estate figures released this week show Vancouver property sales have reached a record 10-year low..  The Real Estate Board of Greater Vancouver, in turn, has officially declared we are now in a “buyer’s market”!!!  Well, it’s about time, isn’t it?!  But, before you get too excited and rush out to buy your own little piece of Lotus Land, consider this…while sales are at a record low, housing prices are still, to be frank, absurd.   The average price of a detached home in Vancouver is currently hovering around a million dollars.

I’ve observed this phenomenon in the Vancouver market before.  We go through an insane frenzy which, inevitably, comes to a halt.  Consequently, we are left with a surplus of product on the market and the REBGV and realtors say “Buy! Buy! Buy!”  What I want to know is this…if it is a buyer’s market, who the heck are the buyers?  Mortgage payments, utilities and property taxes are already costing the average Vancouverite 88.9% of their household income.  Pause and let that sink in…88.9%.  Shocking, right?  Something is really, really wrong here.  How are people affording to live on less than 12% of their incomes?

My husband and I scratch our heads about this all the time.  We feel like we are beyond cash poor.  We’re certainly not financial wizards, but we manage our debts and try as much as we can to live within our means.  Meanwhile, we see people renovating homes, buying new cars, new clothes, paying for daycare, nannies, dinners out, vacations etc. etc.   Are all of these people getting by on 12% of their incomes or is there a massive amount of credit spending happening behind closed doors?

There is definitely something askew when home ownership becomes so coveted and, at the same time, overpriced that people literally finance their lives away.  I also feel like there is a giant PR machine at work, feeding our lust for land in this city.  Now, I’m no economist, but what then happens when interest rates rise and families are not only sat with mortgages they cannot afford, but massive amounts of credit debt incurred to actually “live”?  Unfortunately, many predict that this is when we will see a true “buyer’s market”, which could come at a cost to many who buy today.