Received my property value assessment today...

[Berry Sweet]

Im a renter and I would never buy out here...Id move away and buy...friends in my area have posted on fb today theirs went up 42%...im waiting on my parents...that one is going to be a jump.  The city were I am has really grown and changed...its very beautiful and has a lot to offer...I dont mind it here..in the city/burb area but would never do Van or Surrey.

[GORDY GAMBINO]

youre 1 pay day check away from surrey honey

[RW]

Im a renter and I would never buy out here...Id move away and buy...friends in my area have posted on fb today theirs went up 42%...im waiting on my parents...that one is going to be a jump.  The city were I am has really grown and changed...its very beautiful and has a lot to offer...I dont mind it here..in the city/burb area but would never do Van or Surrey.

I loved living in Van proper (41st and Main).

[Anonymous]

Im a renter and I would never buy out here...Id move away and buy...friends in my area have posted on fb today theirs went up 42%...im waiting on my parents...that one is going to be a jump.  The city were I am has really grown and changed...its very beautiful and has a lot to offer...I dont mind it here..in the city/burb area but would never do Van or Surrey.

 

[Frood]

Isn't anyone concerned about the Van property bubble popping when the world economies take a combined tumble eventually?

[GORDY GAMBINO]

Nah its all funded by Communist smuggled slitty eyed flied rice CASH ya cunt.



The septics owe heaps not the Canucks.



That's separate countrys mate.



Like India and them fucken Pakis mate those fucken smelly cunts.

[Angry White Male]

Isn't anyone concerned about the Van property bubble popping when the world economies take a combined tumble eventually?

I now own outright, so it wouldn't affect me.



However, I can see a problem with people having a $600,000 mortgage on a place that all of a sudden is now worth $400,000...  They may walk away.  Now, I forget the details, but walking away from a mortgage has different repercussions depending on the Province.  Walking away has less repercussions in Alberta, than it does where I live in BC.



Here, walking away could seriously fuck up your financial shit for a long time.

[Anonymous]

Isn't anyone concerned about the Van property bubble popping when the world economies take a combined tumble eventually?

I now own outright, so it wouldn't affect me.



However, I can see a problem with people having a $600,000 mortgage on a place that all of a sudden is now worth $400,000...  They may walk away.  Now, I forget the details, but walking away from a mortgage has different repercussions depending on the Province.  Walking away has less repercussions in Alberta, than it does where I live in BC.



Here, walking away could seriously fuck up your financial shit for a long time.

That happened in Alberta about 8 years before we came to Canada. The city of Calgary was hit particularly hard. Apparently lots of houses for sale for $1.

[Frood]

Isn't anyone concerned about the Van property bubble popping when the world economies take a combined tumble eventually?

I now own outright, so it wouldn't affect me.



However, I can see a problem with people having a $600,000 mortgage on a place that all of a sudden is now worth $400,000...  They may walk away.  Now, I forget the details, but walking away from a mortgage has different repercussions depending on the Province.  Walking away has less repercussions in Alberta, than it does where I live in BC.



Here, walking away could seriously fuck up your financial shit for a long time.

For those who have a mortgage it's worse sure but even for you it's a problem. People buy at high prices expecting continued rises in value. Losing anywhere from 20 to 80 percent of value on an outright owned already overpriced home could be the difference between poverty at old age when you need to cash in or like what happened and still is happening in the US Midwest, the inability to sell at a fraction of the value years later while employment figures never truly recover except where the government gets creative with the part time jobs and reluctant retiree figures while letting foreign investment in to buy up and sit on unoccupied dwellings.



Seems ridiculous to me for anyone to want a piece of any of that.

[Anonymous]

Isn't anyone concerned about the Van property bubble popping when the world economies take a combined tumble eventually?

I now own outright, so it wouldn't affect me.



However, I can see a problem with people having a $600,000 mortgage on a place that all of a sudden is now worth $400,000...  They may walk away.  Now, I forget the details, but walking away from a mortgage has different repercussions depending on the Province.  Walking away has less repercussions in Alberta, than it does where I live in BC.



Here, walking away could seriously fuck up your financial shit for a long time.

That happened in Alberta about 8 years before we came to Canada. The city of Calgary was hit particularly hard. Apparently lots of houses for sale for $1.

That happened about three years after we came to Canada..



My parents didn't buy a house until prices recovered, but still well below the overpriced early eighties.

[Anonymous]

Isn't anyone concerned about the Van property bubble popping when the world economies take a combined tumble eventually?

I now own outright, so it wouldn't affect me.



However, I can see a problem with people having a $600,000 mortgage on a place that all of a sudden is now worth $400,000...  They may walk away.  Now, I forget the details, but walking away from a mortgage has different repercussions depending on the Province.  Walking away has less repercussions in Alberta, than it does where I live in BC.



Here, walking away could seriously fuck up your financial shit for a long time.

That happened in Alberta about 8 years before we came to Canada. The city of Calgary was hit particularly hard. Apparently lots of houses for sale for $1.

That happened about three years after we came to Canada..



My parents didn't buy a house until prices recovered, but still well below the overpriced early eighties.

I have met older Southern Albertans that have told me about that time. Interest rates were like 13% too.

[Angry White Male]

For those who have a mortgage it's worse sure but even for you it's a problem. People buy at high prices expecting continued rises in value. Losing anywhere from 20 to 80 percent of value on an outright owned already overpriced home could be the difference between poverty at old age when you need to cash in or like what happened and still is happening in the US Midwest, the inability to sell at a fraction of the value years later while employment figures never truly recover except where the government gets creative with the part time jobs and reluctant retiree figures while letting foreign investment in to buy up and sit on unoccupied dwellings.



Seems ridiculous to me for anyone to want a piece of any of that.

Where I live is unlike most other places in Canada, or even the world.



Real estate is different here than in the rest of Canada (except maybe Toronto).



The demand here is high, in good times, and in bad.

[Anonymous]

Isn't anyone concerned about the Van property bubble popping when the world economies take a combined tumble eventually?

I now own outright, so it wouldn't affect me.



However, I can see a problem with people having a $600,000 mortgage on a place that all of a sudden is now worth $400,000...  They may walk away.  Now, I forget the details, but walking away from a mortgage has different repercussions depending on the Province.  Walking away has less repercussions in Alberta, than it does where I live in BC.



Here, walking away could seriously fuck up your financial shit for a long time.

That happened in Alberta about 8 years before we came to Canada. The city of Calgary was hit particularly hard. Apparently lots of houses for sale for $1.

That happened about three years after we came to Canada..



My parents didn't buy a house until prices recovered, but still well below the overpriced early eighties.

I have met older Southern Albertans that have told me about that time. Interest rates were like 13% too.

A return to high interest rates would be devastating to Canadian real estate.

[Anonymous]

Isn't anyone concerned about the Van property bubble popping when the world economies take a combined tumble eventually?

I now own outright, so it wouldn't affect me.



However, I can see a problem with people having a $600,000 mortgage on a place that all of a sudden is now worth $400,000...  They may walk away.  Now, I forget the details, but walking away from a mortgage has different repercussions depending on the Province.  Walking away has less repercussions in Alberta, than it does where I live in BC.



Here, walking away could seriously fuck up your financial shit for a long time.

That happened in Alberta about 8 years before we came to Canada. The city of Calgary was hit particularly hard. Apparently lots of houses for sale for $1.

That happened about three years after we came to Canada..



My parents didn't buy a house until prices recovered, but still well below the overpriced early eighties.

I have met older Southern Albertans that have told me about that time. Interest rates were like 13% too.

A return to high interest rates would be devastating to Canadian real estate.

For the economy in general. People in this country carry too much debt.