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May 23 2020 01:40pm
Quote (Killingyouall @ May 23 2020 08:55am)
Ya that is a good example..... What a tire fire.

I worry about that too. It is funny how much times have changed. Decades ago you could buy Government backed bonds/Gic's with 18% interest rate! Now you are lucky if you get 2%.

That will not even cover inflation.

Interest rates are very low at the moment and that is not even spurring economic growth. Not a good sign, coupled with all the money being handed out.


Canada is a big international investment destination nowadays so interest rates don't need to be jacked up too much if we run out of capital. That said, even a few % increase would be catastrophic because of the debt load of the population. And they keep taking more because we're trained to buy buy buy.

Good example... saw a 1992 700 sqft condo located in a kinda sketchy area of Victoria (something like Strathcona) for $500/sqft, which is maybe 5-7% under market. Except it was a LEAKY condo, they haven't fixed the envelope for decades. Owners there will get sodomized sooner than later.

...still sold within 48 hours.

Now imagine the poor sods buying now putting 5-10% down, by the end of the year their downpayment will literally be wiped out of the equity and it's highly unlikely prices will recover enough by the time they need to renew their mortgages - where rates will almost surely be several points higher.

Even people who bought over the last 2-3 years are likely to get fucked hard, they will have to renegotiate rates at the absolute worst moment possible.
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May 23 2020 07:18pm
Anyone played The long dark? Pretty fun game in suvival mode. Made in Canalda too.
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May 24 2020 11:11am
Quote (Hizkuntza @ May 23 2020 12:40pm)
Canada is a big international investment destination nowadays so interest rates don't need to be jacked up too much if we run out of capital. That said, even a few % increase would be catastrophic because of the debt load of the population. And they keep taking more because we're trained to buy buy buy.

Good example... saw a 1992 700 sqft condo located in a kinda sketchy area of Victoria (something like Strathcona) for $500/sqft, which is maybe 5-7% under market. Except it was a LEAKY condo, they haven't fixed the envelope for decades. Owners there will get sodomized sooner than later.

...still sold within 48 hours.

Now imagine the poor sods buying now putting 5-10% down, by the end of the year their downpayment will literally be wiped out of the equity and it's highly unlikely prices will recover enough by the time they need to renew their mortgages - where rates will almost surely be several points higher.

Even people who bought over the last 2-3 years are likely to get fucked hard, they will have to renegotiate rates at the absolute worst moment possible.


That is absolutely insane.....

Why would someone by a leaky condo..... Water damage that severe will render the building condemned beyond repair. Just a matter of time.


When I was looking for an apartment I was shocked to find some in Vancouver that were so cheap. My initial thought was that they were leasehold with renewal coming up soon. That is a reg flag for me and something I have no interest in, even if they are considerably cheaper.


Well it turns out it was a leaky condo with extensive damage. Court injunctions have been levied and the large apartment complex is in limbo. Imagine paying ~ 350k for a 1000+ Sq foot condo in Vancouver. Ya it was too good to be true lol. In all likelihood, from a cost standpoint it would be better to demolish the entire complex and start over.

I feel sorry for those who bought into that building.

This post was edited by Killingyouall on May 24 2020 11:17am
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May 24 2020 01:09pm
Quote (Killingyouall @ May 24 2020 10:11am)
That is absolutely insane.....

Why would someone by a leaky condo..... Water damage that severe will render the building condemned beyond repair. Just a matter of time.


When I was looking for an apartment I was shocked to find some in Vancouver that were so cheap. My initial thought was that they were leasehold with renewal coming up soon. That is a reg flag for me and something I have no interest in, even if they are considerably cheaper.


Well it turns out it was a leaky condo with extensive damage. Court injunctions have been levied and the large apartment complex is in limbo. Imagine paying ~ 350k for a 1000+ Sq foot condo in Vancouver. Ya it was too good to be true lol. In all likelihood, from a cost standpoint it would be better to demolish the entire complex and start over.

I feel sorry for those who bought into that building.


Most leaky condos should've been remediated by now but there's still a fair share of them around... Idk what kind of homeowners would subject themselves to living under rotten wood and mold for decades.

There are a lot of cheap non-leaky condos in the Victoria area but they're 19+ and no rentals sort of bullshit. Basically old people voting themselves cheaper housing for the detriment of everyone else.
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May 24 2020 03:22pm
Quote (Hizkuntza @ May 24 2020 12:09pm)
Most leaky condos should've been remediated by now but there's still a fair share of them around... Idk what kind of homeowners would subject themselves to living under rotten wood and mold for decades.

There are a lot of cheap non-leaky condos in the Victoria area but they're 19+ and no rentals sort of bullshit. Basically old people voting themselves cheaper housing for the detriment of everyone else.


No rentals was very common when I was looking. I settled on the place now. It does not allow rentals but has less restrictions overall compared to most other places.

You are right. Make age restrictions, deny families from purchasing, and deny renting out the property to drive more buyers out.

Less people competing/meeting the restrictions for those properties and the price is driven down. The older folks can get access to cheaper housing and restrict others from having a chance to enter the market.

Of course this causes the properties that do not have age/rental restrictions to shoot up in price, chasing out much of the remaining younger people from buying. Something needs to be done about it but I am not sure how an issue of such complexity can be tackled.

I never wanted to be in a strata but few can afford to buy a detached house. I am grateful for what I have with all being said. Many are working their asses off only to barely scrape by. Really tough to make it in the lower mainland without help from family even if you do have a good work ethic.

This post was edited by Killingyouall on May 24 2020 03:25pm
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May 24 2020 03:40pm
Quote (Killingyouall @ May 24 2020 02:22pm)
No rentals was very common when I was looking. I settled on the place now. It does not allow rentals but has less restrictions overall compared to most other places.

You are right. Make age restrictions, deny families from purchasing, and deny renting out the property to drive more buyers out.

Less people competing/meeting the restrictions for those properties and the price is driven down. The older folks can get access to cheaper housing and restrict others from having a chance to enter the market.

Of course this causes the properties that do not have age/rental restrictions to shoot up in price, chasing out much of the remaining younger people from buying. Something needs to be done about it but I am not sure how an issue of such complexity can be tackled.

I never wanted to be in a strata but few can afford to buy a detached house. I am grateful for what I have with all being said. Many are working their asses off only to barely scrape by. Really tough to make it in the lower mainland without help from family even if you do have a good work ethic.


I'd be more amenable to no rentals if I still lived in Vancouver. If my job here in the island gets axed, I'm back to the mainland the next ferry lolz. In this economy I'm not gonna risk getting stuck with something I can't neither rent nor break even with if I move.

I'm totally fine with the strata life tho, I don't plan on having kids at all and I get anxious if I live in a place that's too big. Something that I could live comfortable with one other person is enough. Though I have my worries, I'd hate to live in a strata with noisy neighbors and cheap fucks who want to kick down the can for important repairs.
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May 26 2020 09:33pm
I'm a couple days late but Civilization VI is free to download until May 28th on Epic Games. The game is normally 80$ cad.

This post was edited by Twax on May 26 2020 09:35pm
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May 27 2020 04:53pm
Quote (Twax @ May 26 2020 11:33pm)
I'm a couple days late but Civilization VI is free to download until May 28th on Epic Games. The game is normally 80$ cad.


Nice, loved 3-4-5 but never tried this one.

Saw it wasn't review as well as others though.
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May 27 2020 05:27pm
Quote (Weber @ 27 May 2020 16:53)
Nice, loved 3-4-5 but never tried this one.

Saw it wasn't review as well as others though.


I enjoyed civ 6, but I've been played civ since the first one when I got it in '95 so I may have a bias
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May 27 2020 06:03pm
Quote (Weber @ May 27 2020 06:53pm)
Nice, loved 3-4-5 but never tried this one.

Saw it wasn't review as well as others though.


reviewed**

Quote (Bruin @ May 27 2020 07:27pm)
I enjoyed civ 6, but I've been played civ since the first one when I got it in '95 so I may have a bias


Damn you old i was only 2yo. 4 and 5 were amazing and aged pretty well game-play wise if you ever get a chance to try.

This post was edited by Weber on May 27 2020 06:09pm
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