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vancouver expensive

massageseeker

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Sep 3, 2003
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For now.. people are not that smart though .. they have been borrowing, borrowing, and borrowing .. at low %. Thats why we are seeing house prices skyrocket.

Look at furnitire stores.. they are dont pay until 2007 etc .... people are buying and filling up there homes..

At 3% basically they are borrowing below prime. On June 8, the prime rate remained the same. However, by next year this time it will be up atleast 1.5 % which is a given. On a 300, 000 mortgaget that would be an extra 300 per month in interest basically ONLY IF they were paying 1800-2000 per month in payments ..

In theory, they may eventually pay more in interest than principal. That is when you will see forclosuers and consolidation. LOOK OUT..

Right now Rentals are high but really on the low side. B/c people that would be rentiung are actually buying..even though they shouldnt.

so when % go up you will see people trying to rent more versus buying .. they will not be able to buy and rent prices will go thru the roof ..
 

massageseeker

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Sep 3, 2003
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what part of Seattle is more exp than Vancouver in Realestate ?

Comparing the US is like comparing apples and oranges.. remember prices will push .. as in the US you can write off the interest on your mortage.. in Canada you can kiss your 3-10,000 per year good bye ..
 

Doc Pheaster

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Apr 26, 2004
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Vancouver,BC.
vancouver expensive...try Tokyo.

LittleAsianGuy said:
Not sure why im staying in Vancouver. The rent and real estate prices are sky high grrr ....just wanna get this off my chest

LAG,try Tokyo.I spent a year there five years ago and I am still paying off my credit cards:p lol.
 
Dec 2, 2002
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Poon City
That's what i mean the rent and cost of buying real estate is expensive. Sure there's other places in the world that cost less but vancouver at this time is expensive. Other expenses in Vancouver isnt so bad.
 

Lurker 123

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Jul 23, 2003
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Somewhere in BC
LittleAsianGuy said:
That's what i mean the rent and cost of buying real estate is expensive. Sure there's other places in the world that cost less but vancouver at this time is expensive. Other expenses in Vancouver isnt so bad.
Hey LAG,I don't know what your finance situation is.Paying mortgage is way lower than you pay rent. In addition your property is going to appreciate. So you are making money in long run!e.g. some apartment in DT double its price since 12 months ago!

If you say the present market is expense,wait until 2010, that will be even more unaffortable!So make up your decision quickly will save you lots of money in long run!

If I were you ,I would have moved somewhere in the neighbourhood of Vancouver,i.e. Coquitlam or Surrey. Actually ,Surrey is still very affordable and is only about 45 minutes from DT Vancouver. (average;in the evening ,just over 30 minutes!)

Don't listen to the newspaper saying how bad Surrey is. There are many nice areas in Surrey and is all depended on how you like it. The best side is you will pay half the cost of Vancouver. e.g. if you buy a big half acreage property in White Rock with a 4000Sq.ft home ,you will pay around $800,000,but in Vancouver,you will pay more than double,perhaps 2.5 mil or more.

As someone mentioned before ,Vancouver is still way behind many big cities in the world. So now is just a catching up game!;)
 

citylover666

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Oct 4, 2003
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it costs more to live in the places it's worth the most to live in.

vancouver is one of the most livable cities in the world!
 

citylover666

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http://www.globeandmail.com/servlet/story/RTGAM.20030303.wrank0303/BNStory
 
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