“We live next door to a large new house that replaced a beautiful one in excellent condition. It has been empty since its construction about 2 years ago. The owners live in another house nearby.”

“We live next door to a large new house that replaced a beautiful one in excellent condition.
This new house, contrary to the bylaw, does not meet the requirement that the bulk and size of new developement is similiar to existing developement. Nor is it as required, compatible with the existing amenity and design of developement. City Planning approved this contrary to the neighborhood objections.
It has been empty since its construction about 2 years ago.
The owners live in another house nearby.
In this block there are now 3 houses that have been empty for several years.”

– B. Mcloughlin, commenting 2:58 PM on March 8, 2013 below the Globe and Mail article Kerrisdale preservationists lament a tide of bulldozers.

Misallocation of resources.
Speculation.
– vreaa

14 responses to ““We live next door to a large new house that replaced a beautiful one in excellent condition. It has been empty since its construction about 2 years ago. The owners live in another house nearby.”

  1. Real Estate Tsunami

    What is so telling about RE in the Lower Mainland, is that pretty everyone has a similar story.
    One of my friend is in the dump truck business. He’s making a killing.
    Calls it building material recycling.

  2. C’mon….without free money and speculators, me and my sister would be outta work. Maybe they just need some “creative marketing” to shift those empty houses? I’ll call Cam…..

  3. Every once in a while I go back to my parents place for dinner. There is this one house that was selling for 2.2M, new build (Killarney) that has been on the market for at least a year. It is now selling for 1.8M I believe. All the while there are new builds popping up everywhere, with no sales.

  4. Up here at 14th and Blanca the spec houses are sitting and sitting and sitting. Open houses signs where everywhere on the weekend.
    Some of these little houses have been juiced for all the revenue thay can get with little reinvestment so they are falling apart.

    A 33’x120′ lot with a bung on it sells for $1.2M to s specker. a 4000 sq.foot home cast $200 square foot to build, so now you are in for $2M without transaction costs. Builders are still trying to get 20% profit so most of these spec houses are listed around the $2.4-$2.6 mark. If it is on a 50′ lot they try to get more.

  5. OK I’ll say it: the neighbours (or lack of neighbours in this case) are not going to complain about my orange-tarpolined boat parked in the back yard. I’ll take that over what we know is the alternative.

    No offence, Kerrisdale.

  6. maquinna ballerina

    You guys just don’t get ‘density’. If Captain Cook was Asian there would be 150 million people living on the West Coast by now, AND it would work.

  7. Down here in East Pt. Grey, it’s worse. Our next door neighbour hasn’t been here for 4 years. It very nice and quiet though,as most of the houses in our neighbourhood are empty. Never a parking problem, no noise problems, just the problems of leaving Christmas wreaths up all year round. A dead giveaway!!!!!

  8. UBCghettodweller

    I’ve noticed a very large number of houses out that way never have lights on at night and the Christmas lights are still up.

  9. Can someone afford to build a small house on a million dollar plus lot? I don’t think so.

  10. We have two empty houses on our street. They have been empty for two years. One was owned by an Asian and sold to another Asian and is still empty. The other house has been for sale for the last two years, empty and Asian owned. Trading houses like stocks by people that live in China. How is this good for economy?

  11. 4SlicesofCheese

    Does anyone know if the price of construction scales the larger it gets?

    My aunt who is almost 80 is building a 4000+sq ft home on her land and I was hearing numbers around 700k, that is only 175/sq ft which sounds very low. She intends to live in a coach house and my cousin lives in the main.

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