Hard Earned Home Savings? Hardly.


image care of long-time reader and very occasional contributor ‘westsidefrank’

A tip for home-owners contesting proposed new taxes: Make almost any argument you want, but do not claim that any profits that you have accrued by virtue of owning Vancouver RE are ‘Hard Earned’. This insults people who work hard, and at the same time insults anybody with a modicum of intelligence. Hundreds of thousands, sometimes millions, tax free? As Bing Thom the architect once said “I have done pretty well in my business, but I made more money from sitting on my Vancouver property than I made by working an entire lifetime. That tells you something.”
[BTW, it looks like somebody has graffitied onto that sign, under the “Angry?” question, something along the lines of: “Yeah, because I can’t afford to live in a mansion like you!”]
– vreaa

342 responses to “Hard Earned Home Savings? Hardly.

  1. I’m morally opposed to all taxation but, yeah, equating a bubble to hard work is absurd.

  2. Anyone here knows how high the property tax rate would be if BC would be like Texas or Florida (no income and sales taxes)?

  3. 5006 Fraser St: contender for turkey of the year – even if it wasn’t on a godawful traffic street overlooking the graveyard. Blurb says “ONE OF A KIND”. That’s true. Over $2M list for this absurdity in a No Frills location.

  4. Couldn’t have said it better myself!!!!!

  5. Polling has consistently put taxing higher-priced properties as having strong public support. Attempts to change that have so far been unsuccessful. It’s almost as if…”the rich” can’t relate anymore to everyone else. I’m in shock

    • That’s mob rule.

      Can’t change rules mid-game.

    • white_angelo_s_amuse_bien

      tax-tax-tax … have we forgotten what socialism gone full retard did last century? … oh wait, what’s this … https://tinyurl.com/y8lqcrj2

    • I bet 80%+ people also support taxing rich people, more successful people, or anyone but me more. 🙂

      • white_angelo_s_amuse_bien

        some things that cannot be left to a popularity contest … that’s why there’s a constitution or bill of rights … it’s not the if, it’s the how … rich ppl creating smthing useful, u want more … let the competent rise to the top – better for all … but criminals on top is an inverted morality – to remedy, the punishments should be xx-medieval … yes-yes-yes, not blk/white … but the pt survives … and taxes? … can’t solve either pb, instead just adds another

  6. Satan owns this house?

    3353 Scotch Pine Avenue, Coquitlam
    Dec 12:$2,188,800
    Jun 11: $1,666,666
    Change: – 522,134 -24%
    A: $1,817,000

  7. Satan isn’t that stupid. And he likes to walk and cycle. With a walk/bike score of 8, that’s not happening. This pile of custom crap is in the boonies – even tsunami-challenged Ditchmond is better.
    The sellers paid $100K over assessed in 2016 @ $1.79M. That was incredibly stupid. Had they paid assessed, in itself a ridiculous sum, they’d be exiting with minimal loss. They should have bought it for way less. The original list was just pie in the sky silly. The nearly carbon copy custom caca construction beside it @ 3355 Scotch Pine sold in 2015 for $1.24M – half a mil less.
    This was a custom caca tract house development on the side of a mountain in bear country. Google bears and Coquitlam. Put aside price. Imagine going there. It’ll take lots of time. Burn out your powertrain going up the mountain. Burn out your brakes going down. Or take the bus – if you have hours to kill.
    This listing is a prime example of why charts and graphs are bullshit.

  8. Nice thing about Ninja is that you can’t feel sorry for him.

  9. Ninja – the relentlessly toxic twerking troll.

    • Arnie critiques second-rate properties to compensate for the regret he feels over purchasing his own second-rate property.

      In a second-rate neighbourhood.

      In a second-rate city.

      Try adding something — anything — of public utility instead of frantically scratching your own itch.

  10. Ninja the toxic troll – time to towel off after your hot twerk with your dog. Go look at a chart.

  11. Sebastien (-80% bear)

    504 590 Nicola Street, Vancouver
    Feb 6:$1,398,000
    Jun 11: $1,099,000
    Change: – 299000.00 -21%
    A: $1,079,000

    725 7008 River Parkway, Richmond
    May 29:$718,000
    Jun 11: $549,000
    Change: – 169000.00 -24%
    A: $587,000

    1295 Duchess Avenue, West Vancouver
    Feb 20:$3,700,000
    Jun 11: $2,800,000
    Change: – 900000.00 -24%
    A: $3,720,000 (WTF!!!!!)

    248 N Gamma Avenue, Burnaby
    Feb 23:$1,759,000
    Jun 11: $1,499,000
    Change: – 260000.00 -15%
    A: $1,460,800

    Ph5 6198 Ash Street, Vancouver
    Jan 8:$1,880,000
    Jun 11: $1,380,000
    Change: – 500000.00 -27%
    A: $1,153,000

  12. @ Sebastian.
    If you are serious about understanding real estate values, and not being a troll, you have to stick to a segment, not a hodgepodge of condos, penthouses, West Van, Richmond, D/T, Burnaby … that you are picking off some chump’s chart. You might as well start looking at Manitoba, or Nunavut.
    Nicola St: strata hell; better to rent.
    A “luxury” one bed one bath for over a mil plus $543/month maintenance? That is crazy. But they are still asking over assessed. Looks like they bought the unit new and will profit when they unload it.

  13. Sebastien (-80% bear)

    3088 W 35th Avenue, Vancouver
    Mar 14:$5,488,000
    Jun 12: $4,288,000
    Change: – 1200000.00 -22%
    A: $4,307,000

    1205 2770 Sophia Street, Vancouver
    Apr 19:$1,998,000
    Jun 12: $1,698,000
    Change: – 300000.00 -15%
    A: $1,781,000

    13070 22a Avenue, Surrey
    Jan 22:$2,188,000
    Jun 12: $1,870,000
    Change: – 318000.00 -15%
    A: $2,007,000

  14. Sebastien (-80% bear)

    This house has hit its “Release the Kraken” moment. The decline in price comes to 500,000$/month! Drug money jumping ship?

    8480 Sunnywood Drive, Richmond
    Apr 9:$2,980,000
    Jun 12: $1,990,000
    Change: – 990000.00 -33%
    A: $2,576,000

    • @Sebastien
      When you introduce sophistry and Surrey to the mix, you’ve really gone off the rails.
      Here’s the #1 problem with the listings you’re picking off someone’s chump chart. The “drop” is based off a pie-in-the-sky shoot for the moon first ask.
      Recalibrate based off actual assessed, or original purchase price – real numbers – and the scenario will be completely different.
      Pick your best three for analysis.
      Try and find something in fabulous East Van.

      • As I said, Arnie is now making things up as he goes. It allows him some temporary respite from his cognitive dissonance–that painful mismatch between reality and the delusion in his mind.

        Watch as his definition of the “market” shrinks like a drop of water in the sun. Eventually, the delusion will no longer be sustained. Arnie will realize that no only have outlying properties cratered in price, but so too has every last square inch in “fabulous” East Van–including his own little plot of dirt and termites.

        Meantime, he’s quite happy to waste everyone’s time with this nonsense.

    • This is Nu Stream Realty Inc. lies. They purposely under price a house by hundreds of thousands of dollars and then reject offers even 400,000 above ask. An example was a house on East 50th they were asking 1.288. Huge bidding war, the highest offer was 1.62 which the owners rejected. Anytime you see a listing by Nu Stream Realty Inc, don’t believe the hype. That being said if they do this enough times they are going to accidentally put downward pressure on their own listings. But let’s be aware of their shenanigans.

  15. Moronic Ninja looks at s….ing or getting off the pot. Starts twerking uncontrollably. Gets relief when he trolls.

  16. 3637 Haida Dr – listed as 3627: bought as a scraper 3 years ago for $1,549,888. Asking a stratospheric $3.688M.
    At this price it should have a commanding location, but it’s way down the slope. And it doesn’t back onto or face the park. A loser location with a ridiculous unpleasant “luxury” house. Awful. A ridiculous sum of money.

  17. Sebastien (-80% bear)

    Was bought last year for $1,190,000:

    7954 Lakefield Drive, Burnaby
    May 2:$1,489,000
    Jun 13: $999,999
    Change: – 489001.00 -33%
    A: $1,304,400

  18. Sebastien (-80% bear)

    2131 166 Street, Surrey
    Feb 14:$1,280,000
    Jun 13: $1,099,000
    Change: – 181000.00 -14%
    A: $1,141,000

    2713 Davies Avenue, Port Coquitlam
    Apr 26:$1,200,000
    Jun 13: $945,000
    Change: – 255000.00 -21%
    A: $809,200

    2721 Davies Avenue, Port Coquitlam
    Apr 26:$1,300,000
    Jun 13: $990,000
    Change: – 310000.00 -24%
    A: $962,400

  19. Scraping the bottom of the barrel in the boonies. Don’t bother looking up walk scores – you’re not walking anywhere from these places.
    No sane person would call any of the above Vancouver. The Surrey address is an hour away by car and doesn’t even have google street view. Nice farmland in front until they build more repellent McMansions.
    The Burnaby house faces a sound barrier in front of the Trans Can. Talk about a view. And those barriers don’t work. They mitigate, but don’t block the high-pitched noise of traffic. Not worth living here let alone buying.
    Curious that the PoCo properties are side by side. Could be worth buying the two and turning them into an industrial site if zoning permits. Facing a busy road and the railroad tracks, you certainly don’t want to live here. Note that the list prices are higher than assessed – even after the “drop” – one by almost $150K.

  20. Ninja the toxic troll – just can’t bear to shut his hole.

  21. Sebastien (-80% bear)

    Bent over and forget Vaseline, Mr. Market is going in dry:

    4650 Baldwin Street, Vancouver
    Jun 13:$1,535,000
    Jun 14: $1,068,000
    Change: – 467000.00 -30%
    A: $1,782,000

  22. Sebastien (-80% bear)

    6318 Brooks Street, Vancouver
    Feb 13:$2,488,800
    Jun 14: $1,998,000
    Change: – 490800.00 -20%
    A: $2,217,000

    14 7551 No 2 Road, Richmond
    Feb 21:$1,188,000
    Jun 14: $788,000
    Change: – 400000.00 -34% ( It is a New Coast listing)
    A: $921,000

    1907 668 Columbia Street, New Westminster
    Mar 21:$528,000
    Jun 14: $428,000
    Change: – 100000.00 -19%
    A: $416,000

  23. Baldwin sold way back in 2014 for $987K. It is now offered as half a house – yes, a dreaded duplex on a weird shaped lot flanking an alley sitting on top of a stream. Multiply the ask times two and you have way over assessed.
    Brooks St is the closest to value. Bought for under $600K 15 years ago, the ask is just under median for the area. But if I had a couple of mil to throw down, I’d require south-facing and a view. I don’t need Skytrain, but tenants usually do. Then again, there is no suite, or laneway house. Buyers these days expect that.
    No 2 Road Richmond is painful to contemplate. If you can stand living on a busy street in a strata unit, have at it. It was bought 3 years ago for under $600K. There’s still lots of meat on the bone for the sellers.
    Columbia St – 1 bed 1 bath condo for around $400K – so what. It was bought for $290K 3 years ago. Again, it’s silly to base supposed drops on shoot for pie in the sky listing prices.

  24. Ninja the toxic troll got excited by the reference to vas. He’s seriously chafed by all his twerking. Bring it along to his next looking at charts party.

  25. Also, Arnie lives here.

  26. Sour grapes.
    Very happy to live here. This city is great. Stupendous. Esp. fabulous East Van.
    Losers meet at Starsucks and whine. Don’t forget to tip the barista. Asshole owner Schultz, one of the richest men in the world, doesn’t want to share his cash.

    • East Van is fabulous if you like treeless streets, horrendous postwar specials, high crime, and junkies.

      Hey, why don’t you share some of your cash, Chile-con-Arnie? Lots of sub-Saharan Africans could use it. You’re richer to them than Schulz is to you.

      What’s that? Not gonna happen? Didn’t think so.

      #Hypocrite

    • There are better targets for your billionaire hatred. Starbucks is more progressive than most employers, which is a sad commentary on level of greed in the world we live in, and far more progressive than most food service employers.

      https://www.aol.com/article/2016/03/02/company-of-the-week-5-killer-perks-of-working-at-starbucks/21321716/

      • Sticking up for a billionaire? Are you a stockholder?
        Examine his bogus benefits and see if you can deduce where the bullshit is. It’s not that hard to see through the corporate p.r. propaganda. Smarmyballs Schultz knows how to lay it on.
        Keep in mind that his wage slaves have beggar bowls on the counter while he has billions – and that’s just the way he likes it.

      • Companies try to retain customers through loyalty programs. They do the same with employees, esp. those with a high churn rate like burger joints and coffee shops. It’s cheaper than giving cash and the company benefits further from a halo effect – no different from greenwashing, pinkwashing, whitewashing … don’t know the neologism in this case.

      • Over the span of multiple decades, guy builds a global business from scratch. All based on *voluntary* exchanges between suppliers, customers, and employees. Nobody is forcing the baristas to work there. They do so out of their own free will.

        Schulz, and the business he created, have paid more in taxes than a million Arnies combined.

        Yeah, he has billions. As he should.

        Are they sitting in some Dr. Evil vault? No. They have been reinvested in new ventures, helping other entrepreneurs to hire people, and bring new ideas to fruition, to the benefit of consumers.

        Innovating. Working hard. Risking their future. Some will succeed; many will fail.

        Arnie, meanwhile? He hammers away at his keyboard.

        You jealous? Bitter? Go start a business instead of yapping childishly about others’ success.

      • Let me kick it off for you:
        Smarmyballs Schultz ponders how to get his wage slaves to stick around – the employee churn rate is a drag on revenue. Maybe give them 10 bucks extra if they stay a whole week. No, it sounds way way better to give them a small bag of coffee.
        How about that beggar bowl.? How would you like to stand on your feet 20 plus hours/week, mindlessly making coffee, hoping for some baksheesh – that you have to share with your supervisors.
        Why are there beggar bowls on the counters of this greedy pig’s businesses? Do you call that progressive – or degrading.
        Smarmyballs has the cash – he just doesn’t want to share.
        That is contemptible greed. Vile.

      • Ninja the toxic troll always tips the billionaire’s wage slaves. It’s his favourite place to whine about not being able to afford a house in the best city in the world.
        Working in a coffee shop is a desperate survival move, not a choice.
        During the Irish Potato Famine quality foods were still being shipped to the rich in England. Over a million Irish died. Too bad Smarmyballs didn’t have Starsucks there. He would have had no trouble with wage slave retention.

      • Nobody is forcing anyone to work at Starbucks. It’s 100% voluntary. If you look at the average barista, they’re college students or otherwise young and unqualified for most other jobs, let alone a trade or profession. It’s a stepping stone for them; a way to make some extra cash while they acquire studies or skills. Nobody makes a career out of being a barista, although that would be a more noble pursuit than your faux-social justice.

      • I have met people who worked at Starbucks. There’s nothing bogus about the benefits. Imagine the people who got into the share ownership scheme in the early days, how much that stock is worth today. Arnie, you are down on over 99% of the houses for sale, anyone who has less than you, and apparently anyone who succeeds in accumulating wealth no matter if they try to treat their employees fairly, (Schultz) or give their fortune away (Buffett).

      • Arnie has the arrogance to think he speaks for the thousands of folks who work voluntarily at Starbucks. Guess what? They are showing their satisfaction with Schulz’s policies every time they clock in. They are voting with their feet and don’t need some keyboard social justice warrior to whine on their behalf about tip jars. Only a born-into-privilege prick could lack the empathy and social awareness to claim that baristas’ job is beneath them.

      • You “met people who worked at Starbucks”? When you were ordering your latte?
        Did you put alms in the beggar bowl?
        Here’s what workers want: cash. They know what they want to do with it. Smarmyballs Schultz is playing the game – and winning. Billions.
        F… him and f… his coffee shops.
        A degrading beggar bowl for the wage slaves on the counters of a multi-billionaire? Have you tried standing on your feet 20 plus hours/week – making coffee? How long would you last?
        Again, it’s cheaper for him to squawk about benefits than to give real cash. His coffee shops get the halo effect, he pockets more cash. That’s what he and his wage slaves have in common. They want money. That’s why there’s a beggar bowl on every counter.
        30% discount on drinks … that cost peanuts … that you make yourself … that you drink while standing and working. There’s a benefit.

      • The people I have met who worked at Starbucks were friends, relatives and colleagues who had moved on to a new workplace. I always tip when I have coffee in a coffee shop.

        I haven’t stood on my feet 20 hours a week making coffee, but I did stand on my feet 40 hours a week working high volume retail for 28 years. I didn’t make coffee, but I moved a lot of product around, tore down and built a lot of racking, and about a million and one other things.

        I don’t know too many employers that offered same sex benefits as quickly as Starbucks did, offer benefits to part time workers, and offer meaningful ownership of the company via discounted share purchase schemes. Particularly in the service sector.

        The low pay at Starbucks and other companies has to do with government policies that have led to low union density, a decade of frozen minimum wages, and the war on workers that has been conducted since the eighties. There’s plenty of blame to go around, and workers wages are a reflection of that sad reality. I stand by my point that in the world of baristas, Starbucks deserves its Glassdoor rating of 4.1/5. There’s a lot of employers that would love to get that kind of rating.

  27. Sour grapes from the relentlessly toxic troll Ninja – nothing to contribute but bile.

  28. Sebastien (-80% bear)

    1560 41ST AVE E, Original Price $1,385,000, Sale Price $1,200,000,
    4840 VICTORIA DR, Original Price $1,438,000, Sale Price $1,350,000,
    2836 16TH AVE E, Original Price $1,519,000, Sale Price $1,315,000
    1214 GEORGIA ST E, Original Price $1,499,000, Sale Price $1,300,000
    5869 DUMFRIES ST, Original Price $1,430,000, Sale Price $1,295,000

  29. The 16th Ave and Georgia St ones were probably worth buying. The first has broad appeal, the second is an industrial area. I’ve cycled through both areas a thousand times. Kind of like them both for different reasons. Emotionally I prefer the 1905 built house in the industrial area, but when you start looking at things like foundation work, or roof replacement on something this old (and tall) you better know what you’re doing – and have a big reserve fund – not for the faint of heart. The others are on garbage streets, or a scraper on a bog – and they didn’t sell for under assessed.

  30. The Georgia St house – 6 bedrooms – 1 bathroom. Imagine that. Hasn’t been for sale forever. Pretty interesting to historical buffs.

  31. Another source gives the number of bedrooms as 8 and bathrooms as 3. In 113 years, there’s been a lot of monkeying around with it without the bother of permits.

  32. The owner of 2836 16th died last year at the age of 92. Definitely not a flip.

  33. Sebastien (-80% bear)

    4855 Smith Avenue, Burnaby
    Jan 16:$2,590,000
    Jun 16: $1,999,000
    Change: – 591000.00 -23%
    A: $2,136,000

    2 1296 Salsbury Drive, Vancouver
    Dec 11:$1,299,900
    Jun 16: $988,000
    Change: – 311900.00 -24%
    A: $901,000

    427 W 14th Street, North Vancouver
    May 10:$2,488,800
    Jun 16: $2,098,000
    Change: – 390800.00 -16%
    A: $2,100,000

    • These are massive price reductions over very short periods. Try annualizing these. That’s how we get to -75% peak to trough.

  34. Smith: bought last year for $1.8M. If they can shift this crap location for within $100K of ask they’re lucky. And why did the value of this 1911 old timer drop from $51K to $11K? Fire? Flood?
    #2 unit Salsbury – strata ugh – bought for under $500K 6 years ago. Listed over assessed. 834 sq ft stacked on 3 floors means 600 sq ft of usable space – the rest is stairs – claustrophobic up down up down up down – developing your butt muscles – good for a twerker.
    N. V. – wouldn’t buy it even for the $1.25M they paid 8 years ago.

  35. Also, Arnie lives here.

  36. And Ninja, you toxic troll, my dad was a milkman his whole life. I grew up in the sticks. My family never went to a restaurant together in our entire lives. Not once. Not even to a coffee shop.
    You’re the one who grew up in privilege, but your parents pissed it away. Which is why you are such a bitter toxic mouthy weasel.

    • Well, Arnie, if you’ve never been to a restaurant or coffee shop, it’s no wonder you’re ignorant. No wonder you spit on the staff as “beggars” for relying on tips as part of their livelihood.

      Your arrogance is breathtaking.

      By the way, it ain’t just Starbucks. There isn’t a restaurant in the world where the employees aren’t happy to receive tips in exchange for good service.

  37. I left home at age 15 and got the first of many jobs in restaurants, from a coffee shop in Montreal, to fine dining in three cities in Canada – including here. I know the business intimately – front and back of the house.
    There are countries where the concept of tipping is alien, or unnecessary, like Japan and Australia. A worker chased me down in Cairo to return a tiny sum I had left.
    In New York, Danny Meyer has abolished tipping in his supremely successful restaurants.
    I speak not of them but of a multi-billionaire who thinks it’s okay for adults to have a beggar’s bowl on the counter. Again, he has the cash – so much cash that cannot ever spend it all. But he won’t share with his wage slaves. He’d rather introduce stupid new beverages and squawk about perks. Horse poo. The workers want cash. Ask them.

    • In a lot countries where restaurant tipping isn’t the custom, there’s a “service charge” built in to the bill (and even then, workers will rarely turn down the offer of an extra reward). This goes for restaurants, but also pretty much every other service-based industry.

      Which system is better at incentivizing exceptional service? The answer is obvious.

      Not only does it incentivize better service, it helps businesses to attract and retain the most motivated workers, and drop the least productive ones. Owners alone can’t monitor their employees so closely as to finely discern the better performers from the grumps. Better to recruit the assistance of the customer in that filtration process.

      It’s not begging. Beggars offer no service. To call voluntary workers beggars is to reveal your disdain for their personal choices.

      Wait staff earn a significant part of their livelihood from tips. Not only that, what is dignifying? A handout from the CEO, given not according to merit but to some feel-good, forced redistribution? Or a direct cash payment following good service? My lazy, tardy, grumpy coworker gets the same as me? No thanks. I’d rather be recognized for my work.

      Like any CEO, Schulz is accountable to his shareholders, and his shareholders alone. Their interests are his sole responsibility. Let me repeat, he is responsible to NO ONE else other than his shareholders.

      And therein lies the beauty of free-market capitalism. Businesses cannot fulfill their responsibilities to shareholders *without* treating their employees satisfactorily. If they don’t, employees will defect to competitors, morale will drop, customer service will suffer, turnover will rise, etc. etc. These are real, hard-dollar costs that a business cannot sustain if it is to survive and thrive.

      This simple concept is of course lost on socialists, social justice warriors, and other malcontents who lack a basic understanding of economics and human behavior.

      • Free-market capitalism? You are naive.

      • “This simple concept is of course lost on socialists, social justice warriors, and other malcontents who lack a basic understanding of economics and human behavior.”

        As illustrated by Arnie.

  38. It’s too bad people are so gullible, but that explains how a complete psycho like Madoff got away with billions. For decades.
    Just assume that everything Smarmyballs Schultz says is bullshit – and work back from there. Figure out the angle.
    Btw, I was 100% off on the cost of the bag of coffee Smarmyballs allows his wage slaves to have in lieu of giving real hard cash. I pay $8.75 retail for a pound of free trade organic. Smarmyballs gets it wholesale, so it’s closer to $5.00.
    And the Glass Door rating of SMUX is barely above average. When you consider that the wage slaves are on the young side, and that supervisors are posting, and who knows what devious devices SMUX uses to tilt the ratings, don’t give much weight to this number. Of course, compared to suffering at a shithole like Rotten Ronnies, it’s better. Be like buddha and use your eyes – see the beggar bowl – see the multi-billionaire.

  39. Ninja is a big fan of eugenics and robotics. “Two wheels of the same cart!” he chirps.
    Don’t forget to tell your landlord to tip the plumber the next time he comes to fix your toilet.

  40. Sebastien (-80% bear)

    2244 Austin Avenue, Coquitlam
    Mar 14:$1,599,800
    Jun 18: $1,299,900
    Change: – 299900.00 -19%
    A: $1,288,000

    350 N Hythe Avenue, Burnaby
    Apr 19:$2,180,000
    Jun 18: $1,699,000
    Change: – 481000.00 -22%
    A: $2,036,500

    7460 Aubrey Street, Burnaby
    Feb 22:$1,979,000
    Jun 18: $1,588,000
    Change: – 391000.00 -20%
    A: $1,614,500

    2957 W 23rd Avenue, Vancouver
    Mar 6:$2,488,000
    Jun 18: $1,888,000
    Change: – 600000.00 -24%
    A: $2,531,400

    1506-9603 Manchester Drive, Burnaby
    May 1:$719,000
    Jun 18: $599,000
    Change: – 120000.00 -17%
    A: $604,000

    • You persist in posting drops from ask – stick with assessed and previous sold price – real numbers.
      Austin – a semicustom house on a big lot on a nasty high traffic street – a waste of money. Period.

  41. Hythe – check the walk score; check the roof; check the crazy topography. Bought 3 years ago for $1.6M. Builder’s special. Worth buying if you can afford to build new. No lane. Tons of driveway.

  42. Aubrey – great spot if you’re a mountain goat – check the walk score. Ask is now almost exactly at assessed. So?

  43. W 23rd – out of a cesspool of listings comes a feeding frenzy price on a property that ticks almost all the right buttons. Nobody’s getting this house for this price.

  44. Condo on Manchester – a “drop” in the assessed from $604K to an ask of $599K? That’s it? Bought new 20 years ago for $200K.

  45. Walk score?

    More like proximity-to-psycho-neighbors score.

    This had to be said.

  46. Poor Ninja – nothing to contribute – so he twerks and chirps.

  47. Keyboard warrior yaps constantly about ‘twerking’.

    I don’t even know what twerking is.

    And I refuse to look it up.

    This had to be said.

  48. Big excitement in Ninja’s world – he’s been nominated to the Twerk and Troll Hall of Fame.

  49. 808 14th Ave: 111-year-old viewless nothing, bought 2.8 years ago for $1.2M. Low-grade reno and staging. The usual beige sheepskin throw is black; so are the pillows. That’s just plain weird. Assessment says 1,650 sq ft. Ad says 2,174 sq ft. Listed at $1,899,999. Totally Ridiculous.

  50. Sebastien (-80% bear)

    3325 Douglas Road, Burnaby
    Apr 10:$988,000
    Jun 19: $799,000
    Change: – 189000.00 -19%
    A: $831,000

    2205 Bonaccord Drive, Vancouver
    Mar 13:$2,890,000
    Jun 19: $2,380,000
    Change: – 510000.00 -18%
    A: $2,415,000

    6440 Claytonwood Grove, Surrey
    May 31:$1,118,000
    Jun 19: $948,000
    Change: – 170000.00 -15%
    A: $1,038,000

  51. Sebastien (-80% bear)

    2007 W 29th Avenue, Vancouver
    Jan 9:$9,680,000
    Jun 20: $7,980,000
    Change: – 1700000.00 -18%
    A: $7,962,000

    4503 Marine Drive, West Vancouver
    Feb 19:$2,999,000
    Jun 20: $2,499,999
    Change: – 499001.00 -17%
    A: $2,608,000

  52. Douglas Road – half a house on a hideous street – 3.9% under assessed. Not worth it.
    Bonaccord – a monstrosity of a house – an exemplar of what not to build. A pretentious embarrassment. A repellent house on an inferior site. The 1.4% drop from assessed does not begin to atone for this ridiculous semicustom. Awful.
    Claytonwood – a snout house in the wilds of Surrey. Sold for $663K 2.9 years ago. Commuter hell and cul de sac claustrophobia. Shudder.

  53. W 29th – list is still over assessed. The land was bought in 2014 for $3.9M.

    Marine Drive West Van – a crazy busy street leading to the misery of the two bridges. Some of the worst times of my life were spent commuting to the North Shore. The drop is only 4% off assessed. Peanuts. Bought for $1.3M in 2013. It’s still listed in the stratosphere – a $1.2M bump in just 5 years. Lunacy.

  54. Arnie frantically scrambling to Google every one of the now dozens of price drops that Sebastien has posted, so that he may dismiss them on some basis (any basis) and not confront the pain of reality.

    Predictable, yes. But more than anything, sad.

    • Ninja the toxic troll – always ready to spew.

    • Sebastien is part of an online tribe of people who post properties with ridiculous asking prices, where listing agents are playing some kind of nonsense ego game with clients in order to get listings. Filtering out the crazy asking prices would make a better case.

      SFH homes are selling below assessed value in increasing numbers. There are still some going for assessed and above, in declining numbers. The market is off about 17% from the peak. Not the crash people are looking for, yet. Condo’s are still at a manic level of increase year over year, and townhouses are routinely priced at a thousand a square foot, and up.

      The taxation and mortgage rules have hit the SFH market hard, but it’s not a knockout blow yet. We are still a long way from any definition of affordability. Will townhouses and condos follow suit? Stay tuned.

      • It’s against one’s interest to list high, and then drop price. A few fools might do that, but not so many as Sebastien has posted. Fact is, asking prices are dropping, not because of some “ego game”, but because buyers have evaporated.

        This is the just the beginning, the very beginning, of a multiyear meltdown. SFHs are the first to crumble, because they rose first and highest. They will continue to decline in price until, on average, they are down about 65% from peak. That would price them roughly in line with fundamentals.

        Apartments and townhouses will follow suit.

        The bursting of the bubble will have huge socioeconomic repercussions, which have been discussed here at length. One effect that no one has addressed, though, is that this is going to actually cost lives. I posted a while back about the coming suicides, murders, riots, drunk driving accidents, etc. that will result from the economic Hiroshima that will hit Vancouver and Canada more broadly. This is going to be a multi generational tragedy the likes of which we have never seen.

      • The “socioeconomic repercussions” are going to be limited to you and your twerking dog! Har har — I just kill myself sometimes.

      • Good one … too bad Ninja the Doomsday Prepper doesn’t know what twerking is.

      • … market 17% off from peak. What does that mean exactly?

      • Arnie, who suffers from low testosterone, can’t even throw a decent “keyboard” punch.

      • According to Steve Saretsky, Vancouver detached was down 12.5% in a year.

        http://vancitycondoguide.com/vancouver-detached-sales-may/

      • MLS benchmark says benchmark prices are down 1.5%. That’s because the usual floaters in the market aren’t selling for inflated prices.
        Mama’s boy Saretsky has one crap listing on Canada Way for $399K. An embarrassment. No wonder he’s such a doom and gloomer. If he hustled for listings, maybe some assemblies, instead of flapping his lips and playing with charts, he’d be doing a lot better. Where is the punditry of the successful agents? Not here.

  55. Sebastien (-80% bear)

    2133 Upland Drive, Vancouver
    Nov 23:$1,575,000
    Jun 21: $1,350,000
    Change: – 225000.00 -14%
    A: $1,491,000

    6820 Gainsborough Drive, Richmond
    Mar 1:$3,588,000 🙂
    Jun 21: $2,388,000
    Change: – 1200000.00 -33%
    A: $2,351,000

    324 Mont royal Boulevard, North Vancouver
    Apr 24:$2,379,000
    Jun 21: $1,998,000
    Change: – 381000.00 -16%
    A: $2,084,000

    111 319 E 7th Avenue, Vancouver
    May 29:$680,000
    Jun 21: $599,900
    Change: – 80100.00 -12%
    A: $683,000

    • Upland: 9.4 off assessed – much good, but there are public tennis courts in back. Crazy-making.

    • Gainsborough: 1.55% under assessed. Whoopee.

    • Mont Royal: 4.1% under assessed. Get in a wheelchair and head downhill. You’ll hit 100 km/hr quickly. Car dependent.

    • 7th Ave: I had acquaintances that managed an identical 3 storey walk-up a couple of blocks away – of which there are a multitude around here. The area is improving, but it has been pretty skanky. See Kingsgate Mall. The ground floor condo will be perpetually sunless. Scintillating views of more 3-storey walk-ups. Nice that the fascists, aka strata council, do not permit dogs. Living here would be depressing.

    • When you see a “man” yapping about the views at this address and that.

      Understand that you are not seeing a man.

  56. Sebastien (-80% bear)

  57. Keyboard warrior Arnie mocks and dismisses the views of all who don’t conform to his delusional narrative. From banks, to research firms, to little ol’ Saretsky, everyone is a fraud.

    But the real estate cartel? They’re rock solid.

    Who in their right mind trusts MLS data? Do you trust the tobacco companies for data on smoking?

    #CognitiveBias

  58. white_angelos_economic_hiroshima

    you’ll know how bad by the silence … when the bubble blew down here, there wasn’t much talk … contrast the constant barking and excitement during the euphoria, prices dumped very quietly

  59. Sebastien (-80% bear)

    4971 Cabot Drive, Richmond
    Mar 12:$3,488,000
    Jun 22: $2,880,000
    Change: – 608000.00 -17%
    A: $3,000,000

  60. It’s silly to post drops from shoot-for-the-moon first ask – silly and deceptive. Out of the smorgasbord of awful listings you’ve thrown up to date, I would have considered buying just one – where the guy died at age 92. That was a great spot for a great price – not top 1%, but very good.
    I analyze real properties and real numbers – not opinionated nonsense.
    Cabot Dr: I’ve actually been in ridiculous McMansions like this one. The new ask is down 4% from assessed.
    The price per sq ft of land here is only $219. You’re not getting Vancouver land for that.
    It was bought 2.9 years ago for $2.28M. The new list price is exactly $600K more – a ludicrous jump for a property I’d never even consider – can’t stand the sight of it – inside or out.
    Good luck finding something good. And see if you can restrain yourself from posting first pie-in-the-sky asking prices – those are not real numbers.

    • Arnie makes judgements on the worth of select properties, while dismissing information on other properties and the broader market.

      One must ask: on what basis are those judgements made, if not in the context of the broader market? How can you gauge value if you don’t take into account comparable sales, rental rates, income and economic metrics? In other words, the data, charts, and analyses that Arnie so dreads? Seriously, how do you judge value in isolation.

      You can’t.

      Arnie references assessed prices only. But they themselves are arrived at using comparables–including McMansions and other properties that he would deem undesirable / irrelevant. And of course, assessed prices are totally meaningless anyway, based as they are on recent price action and not long-term fundamental value.

  61. I’ve been giving Arnie a hard time lately. In reality I’m not concerned with Arnie the individual. I’m responding to his posts because they are representative of a mindset that prevails among a large number of Vancouverites, and which therefore merits discussion. “Arnie” exists in the abstract.

    This mindset is characterized by:

    – Cognitive bias and selective reasoning
    – A dismissal of history and data — skeptics as bitter (“sour grapes”)
    – A sort of aggressive, anti-civic attitude toward the community and certain people
    – The notion that asking prices reflect value
    – Vancouver as the BPOE
    – East Vancouver as attractive

    “Arnie’s” worldview is not definitive in Vancouver; it is but one variation to be found in this strange village by the sea. There are other common delusions that he does not seem to display, at least publicly, like “interest rates will never go up”, and “Vancouver is economically vibrant”, etc. Likewise, his sociopathy is not common.

    Overall, though, a symbol of the times.

  62. I’m doing Sebastian the courtesy of analyzing properties that he chooses, even the ones with fake first asks.
    I always look at the previous sold price – a real number.
    I look at % changes in sale prices in Realtylink – real numbers broken down by neighbourhood.
    I look at how long a property has been held; how many times it has been sold and resold.
    I consider orientation, proximity, topography, and speculative value.
    Find real addresses. Hello – real addresses – not chump charts. There’s your challenge. The rest is bs.

    • “Courtesy”.

    • What someone paid for an asset in the past doesn’t give you the complete picture. Places in Palo Alto, to name but one example out of millions, have at times gone for 60% what they were going for just a few short months or years earlier. And guess what? When Vancouver prices have dropped 65% from peak, those prices won’t be predictive either. Because in all likelihood they’ll bounce back in time. Markets move in cycles.

      You are an utter fool if you think that past prices are predictive of future ones. These are Arnie’s “real”, aka bullsh*t numbers.

  63. Ninja the toxic troll – totally sour grapes – likes chump charts, esp. by experts from afar – hates the greatest city in the world – likes to twerk with his dog and poop tweet.

  64. Ninja the toxic troll – referencing Palo Alto – whaaaat?
    Posts like a dog that vomits and licks it back up.

    • Palo Alto = superior to Vancouver.

      But fine. You don’t like the example. There are millions of others. Look no further than Vancouver. The place has gone up and down for decades. If you looked at recent prices as the basis for valuation, you would have been wrong many times.

      Lesson lost on low-testosterone, low-IQ Arnie.

  65. Ninja can’t supply real addresses in Vancouver – just attitude.
    Vomit. Lap it up. Twerk with the dog. Vomit. Lap it up.
    Can’t handle a genuine challenge.

  66. 2696 52nd: a hot potato – flip flip flip – hopeful lipstick renoflip to a rich fool.
    Apr. 30, 2015 – $1.17M
    May 18, 2015 – $1.345M
    Jan 5, 2016 – $1.53M
    Mar 3, 2016 – $1.795M
    Listed now @ $1.988M
    A ludicrous ask for a 62-year-old post war $34K scraper box flanking a street and sitting on a stream. Horrendous, absolutely horrendous kitchen layouts – both of them – check the location of the fridge in the upstairs; terrible location of the stoves; astroturf on the deck.
    Ghost in the front carrying a box on google maps.

  67. Interesting statistics from Redfin:
    By mid-2014 Greedy Guts Gates had enough cash to buy every home in Boston – houses, condos, townhouses – everything.
    The parasite Waltons could buy Seattle.
    The oppressive Koch’s could buy Atlanta.
    As I stated before, if greedy pig billionaires got it into their heads to buy, just as a lark – not everything, but every detached house on a quiet street, they could. The biblically greedy Thomsons, who love having their lackey Grope & Flail reporters point fingers and scream Yellow Peril, could buy Vancouver.

    • This is your dumbest post yet. And that really says something.

      Is this really what the bull argument has come to? That maybe, “on a lark”, some random billionaire will suddenly feel the urge to buy up a bunch of houses where you happen to live, and thus temporarily delay the inevitable slide in prices? That someone who got rich, and has stayed rich, by NOT spending their capital on ridiculous whims, will magically change strategy to the benefit of a few of the world’s “Arnies”?

      How sad that you have to dream up such fantasies just to feel better about your doomed investment.

  68. “The greatest city in the world”

  69. “The greatest city in the world”

  70. “The greatest city in the world”

  71. Bears always make fun of bulls who stretch to the max to buy into a house, forgoing pleasures like eating out, going to games, buying fancy cloth, travel, and be slave to the house doing yard work, repairs, working 2 jobs, etc. Yet, when housing prices went up, they got price out, they suddenly make fun of the concept of “hard earned home equity” as if home equity just magically appeared out of thin air while the homeowner was simply being a lazy ass fat cat who sat on a lounge chair all day, sipping martinis, and never made any sacrifices.

    Well, boohoo…if you think that kind of attitude is going to get bears any friends or sympathies from homeowners, tough luck. If bears didn’t want to do the sacrifice and risk to buy a home then don’t be jealous and bitch when homeowner got ahead. Remember all those big talk about delayed gratification and all? A lot of homeowners did scrimp and save and sacrificed, even if they bought their homes for under $100K 45+ years back when mortgage rates are 15%+ and wages are like $30K and women didn’t really work.

    Yes, right now it’s easy to target rich homeowners owning $3M+ houses by pitting all the homeless and those owning homes under $1.5M. Classic divide and conquer. But that situation wouldn’t last long when housing bursts and NDP can’t collect nearly enough $$ from the $3M+ and have to drop the threshold to $2M and then $1M, etc. Not to mention the change in attitude among even those under $1.5M homeowners are they see their home equity evaporate while bears are cheering and partying on.

    • Ah, the noble homeowner. That exemplar of financial savvy and personal sacrifice. Hear hear!

      • Ninja the toxic troll – thinks it’s great when one greedy pig has billions, but not ok for decent hard-working people with kids to own a house. Ridiculous.

      • Didn’t say it wasn’t okay to own a house. I said don’t put all homeowners up on a pedestal.

        There are plenty of decent homeowners. But I object to making them some sort of martyred class. A lot of buyers in recent years have represented the antithesis of financial responsibility and sacrifice.

        Like any group, it’s a mix. You have decent hard-working people. And you have speculators and fraudsters and money launderers and drug traffickers.

        And whiny bitches like Arnie.

  72. Sebastien (-80% bear)

    1910 28th Street, West Vancouver
    Apr 22:$4,368,000
    Jun 25: $3,498,000
    Change: – 870000.00 -20%
    A: $3,969,000

    4852 Woodglen Court, Burnaby
    May 23:$1,699,000
    Jun 25: $1,425,000
    Change: – 274000.00 -16%
    A: $1,854,600

    2149 W 35th Avenue, Vancouver
    Feb 21:$5,188,000
    Jun 25: $4,188,000
    Change: – 1000000.00 -19%
    A: $4,625,000

    3215 Marine Drive, West Vancouver
    Dec 12:$2,680,000
    Jun 25: $2,299,000
    Change: – 381000.00 -14%
    A: $2,655,000 (Note that the house didn’t sell @ Assessment 🙂 )

    9620 Bates Road, Richmond
    Apr 9:$1,868,800
    Jun 25: $1,598,000
    Change: – 270800.00 -14%
    A: $2,031,200 (Nu Stream ? )

    2663 Wildwood Drive, Langley
    May 31:$929,000
    Jun 25: $699,000
    Change: – 230000.00 -25%
    A: $880,000

    4685 W 6th Avenue, Vancouver
    Mar 9:$4,598,000
    Jun 25: $3,988,000
    Change: – 610000.00 -13%
    A: $4,555,000 ( House didn’t sell close to Assessment 🙂 )

    • You really have to stop posting drops from a fake first ask.

    • The Woodglen one is interesting because the ask is less than assessed.
      It is not a flip. The long-term owners are dead dead dead. The house looks like that’s where they died. It looks like it smells bad.
      It has the weirdest attempt at staging, including the saddest kitchen table ever. Big stuffed dead people’s couches everywhere; a mauve toilet; depressing panelling. This is a builder’s special. They’ll scrape it and put in a house with a suite.
      It is in a cul de sac, from the French ‘bottom of the bag’, aka dead-end – an inauspicious location.
      The heirs just want to flog the thing and put it out of their minds.

      • Location on a cul de sac: for a residential property, one of the most value-enhancing attributes it can possess.

        No through traffic. Less noise. Safer for kids.

        Weird that this needs to be pointed out.

    • Wildwood – a coffin-shaped lot backing onto heavy truck taffic 200 St – nice.

  73. The “running out of land” argument.

  74. Ninja the toxic troll – like a bloodhound when it comes to billionaires. Gets his nose right up their a**holes and starts to twerk.

  75. Arnie scrambling to dismiss Sebastien’s posts on any basis — any basis at all — within literally minutes of their publication.

    The reality of price drops is too painful. They must be discounted however possible to preserve the Vancouver homeowner’s comfortable delusional state.

    Delaying the hangover by drinking more.

    Sad!

  76. Ninja the toxic troll – knows nothing about how to evaluate real estate – which is why he rents a basement with his twerky dog.

  77. Back to the topic. Tom Davidoff on why higher property taxes are good policy.

  78. Not-for-profit means just the interviewer gets paid.
    Supported by PlaceSpeak, aka the Knob of Toads, who will charge you a fortune for listening to them croak.
    Also supported by Odlum Brown, who want to sell you insurance and financial services – which you wouldn’t be able to afford if you bought a house.
    And supported by Beedie – developers.
    Always get a kick out of listening to Davidoff – nice voice, but he always reminds me of Gollum.
    The one question the interviewer could have asked mr. assistant prof is his own housing situation. I recall reading some time back that he sold his sfd in N.V. just before the big run-up. That’s a life-changing event that his wife would bug him about forever.

    • Imagine being gay and married to a woman who would torment you over a piece of dirt.

      No wonder Arnie is so angry.

      • Ninja the toxic troll – too pathetic to be pitiable. Had himself a hot twerk with his dog in his basement rental – and here he is – full of bile, as usual. Useless.

  79. 6607 Cypress Street, Vancouver
    Feb 14:$4,990,000
    Jun 26: $4,200,000
    Change: – 790000.00 -16%
    A: $4,455,000

    1555 Fulton Avenue, West Vancouver
    Mar 29:$2,378,800
    Jun 26: $1,888,000
    Change: – 490800.00 -21%
    A: $2,091,200

    208 1330 Genest Way, Coquitlam
    Jun 4:$588,000
    Jun 26: $499,999
    Change: – 88001.00 -15%
    A: $521,000

    4969 Kadota Drive, Delta
    Mar 1:$1,198,000
    Jun 26: $988,000
    Change: – 210000.00 -18%
    A: $1,156,000

    4101 Burkehill Road, West Vancouver
    Jan 18:$2,850,000
    Jun 26: $2,399,000
    Change: – 451000.00 -16%
    A: $2,575,100

    351 Beachview Drive, North Vancouver
    May 4:$2,375,000
    Jun 26: $2,075,000
    Change: – 300000.00 -13%
    A: $2,149,000

    3932 Moscrop Street, Burnaby
    Jan 23:$2,189,000
    Jun 26: $1,799,888
    Change: – 389112.00 -18%
    A: $1,819,000

  80. 2559 19th – a veritable museum of kitsch – some of that stuff could have collector appeal.
    Very good location and client – very old, or dead.
    Good house; could last another lifetime – unless a builder gets his hands on it.

  81. Ask yourself what is more likely:

    That dozens upon dozens of independent, self-interested, profit-maximizing sellers and agents would deliberately shoot themselves in the foot by over-inflating their ask price?

    Or that keyboard warrior Arnie — a data-averse homeowner and enthusiastic RE cheerleader — is incorrect in proclaiming the asks as fake, and that in fact sellers’ hands have been forced?

  82. white_angelos_economic_hiroshima

    i’m not ndp but they sure got this right … https://tinyurl.com/y9xg5975

    • Drug money? Fraud? I thought it was because it’s the Best Place on Earth.

      Oh wait, Vancouver has always been a schemey boom and bust town. From the gold rush days, to penny stocks, to today’s real estate disaster, a ‘get rich quick’ culture and lax oversight are nothing new.

      What happened to the gold rush? A very small handful got rich, the rest went bust. A total waste of time and effort.

      Penny stocks? Evaporated. Stock exchange moved.

      And real estate, the mother of them all? It will suffer the same fate.

  83. 3468 Ontario – assessed $2.402M – listed at $3.988M. Ai caramba.

  84. 1275 24th Ave : bought 2016 for $1.56M; tarted up; assessed for $1.569M. This “STRAIGHT OUT OF A DESIGNER MAGAZINE” is sitting and sitting – listed at $2.198M – a ludicrous ask.
    And when the price drops and drops – bonehead bears will flap their lips and point. Lookee lookee lookee, prices are dropping.

  85. white_angelos_economic_hiroshima

    must have seen this by now … https://tinyurl.com/yd92huby

    • [Vancouver Sun] – Douglas Todd: Author of Crazy Rich Asians knows what’s fuelling Vancouver

      …”The author of the best-selling debut novel, Crazy Rich Asians, which is coming out as a movie in August, knows Metro Vancouver well.

      Kevin Kwan, whose trio of books satirize Asia’s most privileged people, not only knows Metro because the city is a major magnet for ethnic Chinese capital and people. He also understands the city because his parents were among the first trans-national migrants to buy one of its luxury properties.
      Kwan, 44, has been visiting Vancouver since the 1980s, when extended family members and eventually his Singapore parents bought a “beautiful condo” on Robson Street, which they would visit once or twice a year. Kwan knows many graduates of the University of B.C., which his book says is also known as “The University of a Billion Chinese.”

      The Hong Kong characters in his books, like Eddie, recognize the value of a Canadian passport, which Crazy Rich Asians says gives them “a safe haven in case the powers that be in Beijing ever pulled a Tiananmen again.” When Eddie is not counting his Porsches and yachts, Eddie is heading to his “holiday condo in Whistler, British Columbia, the only place to be seen skiing, since there was semi-decent Cantonese food an hour away in Vancouver.”

      An expert on the “gateway” cities of the Asian elite, Kwan details the lifestyles of those shifting awesome wealth into Sydney, San Francisco, Hong Kong, New York, Toronto and Vancouver. “I’ve observed the phenomenon for the past 30 years. At first it was lapping waters. Now it’s like a tidal wave,” he said with a laugh during an interview. On a recent book tour visit to Vancouver, his first in almost a decade, he noticed “how much things continue to change: The influx of Asians everywhere is quite remarkable.”…

      http://vancouversun.com/opinion/columnists/douglas-todd-author-of-crazy-rich-asians-knows-whats-fuelling-vancouver

  86. I told you this real estate bubble was deadly. Fentanyl is another scythe in its hands.

  87. Societal dislocation a side effect of the housing bubble.

    https://globalnews.ca/news/4257673/vancouvers-millennial-brain-drain/

    Arnie, on-cue, 3-2-1:

    “Let ’em leave. We don’t need people! (Okay, maybe some rich Asians to keep this train chugging). And if those snot-nosed millennials want to stay, they should just shut up and scrimp and never eat at a restaurant for their entire lives!”

    LOL.

    Forget brain drain. Let’s have a bull drain.

  88. “Greatest city in the world”

  89. Sign of the top…

    • How infantilizing is this? They are literally using Disney fonts, “prizes”, and a “bouncy castle” to entice buyers.

      And how lame do you have to be if this actually entices you to spend your weekend with strangers, elbowing each other over four walls and a roof, destined to lose value?

  90. 4731 Cedarcrest: a dreadful house in a dreadful location – bought as a West Van scraper just over a year-and-a-half ago for $1.65M – new-build listed at $3.498M
    Small lot for the area, weird shape, largely unusable because of the extreme slope.
    Horrible layout. Gargantuan fridge that will rattle your brain throughout the echo chamber live-cook-eat space. Brutal sharp-edged island counter that will break a child’s head.
    Sad laundry area – not even pedestals in this little space.
    Moronic wide-opening patio doors that will allow swarms of insect life in, as well as the occasional bear. Really really stupid.
    So car dependent.
    Note, you can test drive the X and the S, but if you buy this godawful property, you’re getting the 3.
    But it doesn’t matter what you drive when you face the living hell of the North Shore Bridges. Living hell.

  91. Ninja the Toxic Troll has a knack for consistently sounding like an idiot.

  92. Where was Sherlock Cohodes when Bernie Madoff perpetrated the biggest fraud in the history of the world – over a period of decades?
    Clueless.
    Clueless Cohodes. Likes to point his finger at the Chinese.
    Hello, Mr Yellow Fever.
    Clueless Cohodes the Chicken Farmer.
    Why doesn’t this American stick with sleuthing in his own country’s cesspool?

    • “Where was Sherlock Cohodes when Bernie Madoff…”

      Because one individual didn’t expose every fraud ever perpetrated, his exposure of the Vancouver RE fraud is illegitimate. Very logical.

      “Biggest fraud in the history of the world”

      The biggest fraud in the history of the word is not Madoff. It is central banking.

      And watch as the losses from the Canadian real estate bubble dwarf those from Madoff.

      “Why doesn’t this American (“chicken farmer”) stick with sleuthing in his own country’s cesspool?”

      Shooting the messenger is not an argument.

      Xenophobe Arnie is upset because Cohodes is smarter and more successful than him. Resorts to mockery to feel better about himself. A deeply unattractive character flaw that should have been corrected in childhood.

    • Sebastien (-80% bear)

      Nobody was able to call Madoff because it wasn’t a public company. You knew that, right?

  93. There there, Ninja, the Toxic Troll, go have yourself a nice twerk and settle down.

    • Arnie worried that when his house drops 65% in value, he will have to go back to work at Starbucks, enriching Schulz while cheerfully serving millennials in the hope of a few cents in tips.

      • Sebastien (-80% bear)

        It’s beyond that. For people like Arnie, RE is a religion. He sees bears as reprobates or demon-possessed. Realtors are priests and rising homes values is a blessing from God.

  94. F*ck cyclists. And I say that as I cyclist. Bicycles do not belong on roads.

    • white_angelos_economic_hiroshima

      i’ve be riding my whole life … bikes definitely should be on the road … but bike lanes, at least the present incarnation of the public virtue signalling variety, are the worst thing ever … take the unused rail lines and turn them into quality gravel roads, works fine for commuters and general use, keeps away the speeder roadies … for the rest, take a few unbroken minor streets where you don’t want arterial traffic anyway and dedicate full road priority to bikes, motorists will just avoid … leave the rest alone, especially any main artery

      • We need dedicated bike paths and I like your rail line conversion idea. Gravel roads would perfect — as you say, would keep out the speeder roadies. My issue is with their aggressiveness. Quite content to occupy most if not all of a car lane, then throw a spaz if cars get too close. They’re a hazard to themselves and to drivers.

  95. Canada’s (American) Clueless Crusader Cohodes.
    Not a peep about Madoff
    Not a peep about the 2008 financial meltdown.
    Racist peeps about Chinese.
    Why is this American sticking his beak into Canada?
    Nothing going on in California?

    • Hundreds (thousands?) of foreigners in Vancouver evade taxes, abuse public services, launder money, and commit fraud… and you are totally silent.

      One man, Cohodes, expresses his view that Vancouver’s real estate market is unhealthy, and you’re crying like a little bitch.

      Just because East Vancouver is the center of your world doesn’t mean everyone else is so provincial. Some people have broader horizons. Cohodes has uncovered fraud outside the U.S. before (e.g. Europe’s NovaStar Financial). The fact that he has commented on Vancouver shouldn’t surprise you.

      Why don’t you man up and admit there’s a problem in your little village by the sea, instead of shooting the messenger.

    • Wrong . Cohodes called New Century in 2007.

      • Is that why his hedge fund went out of business in 2008?

      • Angry Arnie jealous / scare of multi-millionaire Cohodes. Sad!

      • white_angelos_economic_hiroshima

        cohodes fund was positioned for a big gain in 2008-9, got screwed by gs

      • Was Coho all grown up when he decided to play with the bad boys at Goldman?
        He got hooked. He got spanked.
        And he retired. Forever. But he didn’t.
        Now he’s sticking his nose into Canadian affairs.
        Because he’s like a shining white knight in a cape – the Clueless Crusader.
        His emblem is a giant pointing finger. He’s good at pointing his finger at all the evil-doers.
        The curious thing is his self-proclaimed friendship with Eby. If the reporter had any instinct, they would have asked about that.

      • Arnie fine with thousands of Asian money launderers, tax evaders, and fraudsters, but the dissenting views of one American are too scary.

      • white_angelos_economic_hiroshima

        arnie … guys like that, almost inconsequential what they’ve won/lost … they KNOW how to make all they will need … got other reasons for working and living … besides, why so hot on someone for pointing out the obvious – that there’s something very rotten with van re

  96. Ninja the Toxic Troll – intellectually bankrupt.

  97. Data!

  98. I told you the bubble’s bursting would lead to violence:

  99. 3344 28th Ave E: renoflipping beavers at work applying lipstick and appliances. Most of the listed repairs and maintenance like the roof, water tank and windows were done before the beavers bought it – not on their dime. Clever to list them now.
    Bought just under a year ago for $1.333M (cute number).
    Listed at $1.598M.
    No garage; no laneway house; clever beavers.

  100. What’s wrong with these properties?

    139 E 24th Avenue, Vancouver
    Mar 16:$2,638,000
    Jul 4: $2,188,000
    Change: – 450000.00 -17%
    A: $2,364,000

    103 3450 David Avenue, Coquitlam
    May 1:$1,199,000
    Jul 4: $999,999
    Change: – 199001.00 -17%
    A: $1,125,000

    2195 Sw Marine Drive, Vancouver
    Dec 27:$4,280,000
    Jul 4: $3,299,000
    Change: – 981000.00 -23%
    A: $3,613,000

    968 15th Street, West Vancouver
    Apr 10:$2,348,000
    Jul 4: $1,998,000
    Change: – 350000.00 -15%
    A: $2,124,000

    2390 Nelson Avenue, West Vancouver
    May 8:$3,588,000
    Jul 4: $3,098,000
    Change: – 490000.00 -14%
    A: $3,333,000

    2691 Grant Street, Vancouver
    Jun 11:$1,500,000
    Jul 4: $1,299,000
    Change: – 201000.00 -13%
    A: $1,410,200

    5796 16a Avenue, Delta
    Mar 22:$1,198,000
    Jul 3: $1,028,000
    Change: – 170000.00 -14%
    A: $1,088,200

    2386 Shawna Way, Coquitlam
    Apr 9:$1,598,000
    Jul 3: $1,398,000
    Change: – 200000.00 -13%
    A: $1,501,000

    6088 Iona Drive, Vancouver
    Jan 4:$1,599,000
    Jul 3: $1,198,880
    Change: – 400120.00 -25%
    A: $1,526,000

    6933 Arlington Street, Vancouver
    Jan 22:$1,198,000
    Jul 2: $938,000
    Change: – 260000.00 -22%
    A: $1,181,200

    3281 E 7th Avenue, Vancouver
    Apr 5:$1,428,888
    Jul 2: $1,198,000
    Change: – 230888.00 -16%
    A: $1,351,400

    756 Southborough Drive, West Vancouver
    Apr 27:$5,288,000
    Jul 2: $4,488,000
    Change: – 800000.00 -15%
    A: $5,152,000

    939 King Georges Way, West Vancouver
    May 1:$10,880,000
    Jul 2: $8,998,000
    Change: – 1882000.00 -17%
    A: $9,233,000

    2070 Westdean Crescent, West Vancouver
    May 11:$2,950,000
    Jul 2: $2,488,000
    Change: – 462000.00 -16%
    A: $2,837,500

  101. Solomon Grundy

    6088 Iona Drive is listed by Nu Stream, so its the usual ploy of listing below assessed to start a bidding war.

  102. Maybe Ninja the Toxic Troll can pick three out of the dog’s breakfast of listings. No, that would take knowing something about real estate besides chump charts.

  103. 3788 Maxwell: assessed $1.799M
    Listed $2.488.888
    A junko Van Spec in an ok location.

    • And this “fake ask” tells us what about the market?

      • This is a shoot for the moon ask – an agent “buying a listing” – as is their habit
        When agents sell their own properties, they always list high – see “Freakanomics”.
        You can always come down.
        Agents will do anything to get a listing – and that all important self-promoting for sale sign marking territory.
        I’ve seen agents like Terry Eng list a place at a stratospheric price at 22nd and Boundary that had zero likelihood of being achieved just for the high exposure free mini billboard.
        Maxwell St is a good location – top 10%. What this ask says is, if you want a good location – not the dog’s breakfast weirdness posted by 80% deluded, you have to pay big.

    • You know Arnie is talking out of his a** when he says 3788 Maxwell is a “top 10%” location. First off, it’s in East Van, which automatically puts it in the bottom quartile of Greater Vancouver locations. Second, look at Google street view. An absolutely hideous collection of Chinese specials and other atrocities lined up shoulder to shoulder. This house will sell for 600K in the coming bust.

  104. Ninja the Toxic Troll has his heart set on 2691 Grant St – his dream location.

    • I lived on Grant St for two years. Not great.

      Why? Because it was East Van. The houses are even uglier than the rest of the city. The streets are mostly treeless. Like Maxwell St–not a tree in sight. Lots of through traffic. You’ve got commuters from Burnaby, North Shore, and Fraser Valley all coming and going.

      Also, Arnie lives there.

      Thankful I left.

      • Ninja the Toxic Troll admits to living on Grant St.
        The only time in his life he was happy – until his landlord kicked him out of his head thumper basement.
        Those were the days … his sad sack SPCA rescue dog leaving shit bombs all over Clinton Park.
        But Ninja’s real joy was his commanding view of the men’s public toilet. Ninja would spend hours looking out of his window watching who was coming and going. Speculating. Contemplating. Twerking in excitement.

      • When Arnie’s soggy shack collapses in value and he is forced to go back to work at Starbucks for pennies in tips, he will long the days he could afford to indulge his sociopathy on this forum.

        Meantime, the rest of us are left to wonder how this “man” has managed to remain uninstitutionalized.

  105. While prices were galloping forward, speculators were content to forego the hassle of being landlords. As prices stagnate / drop, they are now grasping for compensation by introducing their property to the rental stock. Increased supply = lower rents.

    This is just the beginning.

    • Interesting. We moved in Langley a year ago from our rental of Dec2014-May2017, $2000/mo for a 1996 build 2450sqft with full bsmt to a better for us location, nicer house same size but 1989 build two floor on 7000sqft lot, but had to accept a 40% rent increase to $2800/mo (previous rental was a bit under market, then they didn’t ask for any increases). I tried hard to push the $2800 down, to no avail. So, I watch regularly for a better priced rental in the same area.

      As an aside, the $2800/mo is $33,600/year, or close to one partner’s full average $50k income just for a roof! There is virtually no incentive for tenants to overpay like this. We are only willing to do it because my husband had a high paying USD job, and it’s a block from the school.

      So, as I watch the CL listings, I regularly call BS on the landlords lying about the square footage of the rentals, in an attempt to justify the overprice. They typically lower the advertised size to only 10% over BC Assess size 🙂

      One I recently contacted wrote back (a property agent, not the owner), asking if we were interested. I said, not at current price, as we are prime tenants (credit scores over 830) and not willing to pay anything close to his $3000/mo for 1700sqft listing. He wrote again last week, saying landlord ‘may be willing to lower price for the right tenant’. LOL – not gonna drop it to the $1700 it’s really worth. Of course, his buyer is a 2016 purchaser, as nearly all are, including our current landlords, so likely can’t afford to carry long empty. I wrote back with our rental numbers as above, i.e. his owner is dreaming, not competitive. What a mess.

      So many CL listings working hard to push up rents, but so many are ‘available now’, ie just not finding well-heeled tenants willing to pay such insane rents. Am starting to see a few rent ads for lower than expected askings.

      We really like the house we’re in, but I consider the $2800 only a temporary expense – will not continue paying it for much longer. And, eventually we will buy, with only a small mortgage or even paying cash. (I’m a -65% bear myself, to support, but Sebastien may well be right with overshoot of mean plus dropping incomes).

      • Yes, 65%+ is entirely realistic and would be consistent with fundamentals. My concern is that it may take several years to unwind, though the bulk of the crash would likely occur over 2 years. As for rentals, the market will sort itself out eventually. Meantime, lots of BS to wade through, as you say.

      • I agree Ninja, it will take some-to-many years to come to a nadir, and I’m concerned that by then the economic damage to Vancouver & BC (& Canada) may be so great and so prolonged and so societally damaging as to make it undesirable for us to want to buy here any more.

        I also expect that we will probably be pushed out again at least once more by landlords, no doubt after enduring many months of showings, like the 40(!) last time (but that could be an opportunity for a rent reduction :-).

        Renters have had quite an advantage here until the last 3-5 years, as rents have been much more tightly coupled to fundamentals. I have no regrets in not rebuying after we sold in 2009, as at any time we could have been buying at the peak. Had we bought, we could have saved everyone else from a massive bubble though – the act of our buying would have caused the BoC to immediately raise rates to normal 🙂

        I’m also saddened that good friends have decided to go forward with a huge kitchen reno costing possibly around 8% of current bloated assessed, with a single income family highly exposed to the construction industry. (She agrees with me to not do it at this time, but she can’t talk him out of it!)

        Fortunately good equity, but still, if they really believed it might drop 50% or more, they would not do this. Most current homeowners just cannot imagine the massive, sickening drop ahead of us, even those old enough to have seen it in the 80s, like my parents. Most are also pretty ignorant of macroeconomics and why the risk is enormous and unprecedented at this time. Now, how to buy gold? 🙂

      • Ah, JCH. A kindred spirit.

        Yes, lots of family and friends will be blindsided by the coming disaster.

        You ask an excellent question: will B.C. / Canada even be an attractive place to own after all is said and done?

        Let’s leave aside the tragic social costs that will be incurred (and already have been incurred), and consider just the financial aspect. On one hand, when the bubble bursts, it will be possible to pick up properties on the cheap. On the other, the economic ripple effects will be so severe, and the clamour for restitution so loud, that a government bailout (or attempted bailout) of individual homeowners, municipalities, and banks — not to mention tens if not hundreds of thousand of the newly jobless — seems almost inevitable.

        This means MASSIVE increases to Canada’s already suffocating taxes. It means even MORE debt than that Trudeau and others have gleefully laid on current and future generations. It means lower economic growth, less opportunity, and less prosperity for ourselves and our children and grandchildren. It means the state will acquire even greater power as “benefactor” to the people, and hence freedom will be diminished.

        Not a version of Canada I’m interested in.

        Lastly: yes, buy gold. Canadian real estate is but one piece of a now-global “everything bubble”. Equities, bonds, real estate — they’re all overvalued, the world over, relative to long-term fundamentals. Artificially cheap money everywhere has created a ticking time bomb.

        Sovereign Man has some great writing on this. https://www.sovereignman.com

      • Totally agree, Ninja. It will be an economic disaster here, and I’d rather not be part of the milked. We’ve lived and worked overseas before, and I’d be happy to do it again, so I’m looking into my Swiss roots (grandparent) in case there’s an option for a second passport there.

        Also looking to diversify financially, including gold, as we are about 50/50 Canada and US assets, not safe at all.

        Also adding to my gardening and energy conservation skills, but really need land ownership somewhere to lower risk more. In the meantime, our tax dollars are getting our kids educated 🙂

        I’m not confident that the CAD won’t be worth 0.50 USD or less in the next couple of years, as I think Poloz is severely lacking in personal strength to do what needs to be done – raise rates more, although it’s way too late now anyway.

        I think he did a great deal of damage to Canada by lowering the rates in 2015, rather than letting the oil economy take its lumps but avoid further acceleration of Canadian asset bubbles. (Someone should have thought of the universal stress test in 2015!) Due to sovereign debt, I doubt we will ever see interest rates in Canada or US over 3% again, which means I’m expecting a window of opportunity to buy Canadian property, whether we take it or not, in which house prices are dropping steadily, and interest rates are also dropping in desperate attempts to reinflate.

        Appreciate the link, looks very helpful for planning.

      • Yes, Poloz is spineless, and CAD could go much lower.

        Less sure about future of interest rates, I could see them going higher, possibly much higher (if history is any guide), to ward off inflation and prevent decimation of loonie — tradeoff being a real estate crash and secondary effects. BofC hands will be tied.

        One factor to consider re: relocating is tax residency. If you’ve lived abroad you’re probably aware of this, but when you become a non-resident for tax purposes, all of your investments are deemed by CRA to have been “disposed”, even if you haven’t actually sold them, and you must pay capital gains taxes. It can be a big hit.

        But then you are free.

      • P.S. A second passport is always a good idea.

  106. Noticing scraper flippers pretty regularly:
    126 52nd Ave E – bought 2015 for $1.1M – sold 8 months later for $1.61M
    Rubbish new-build “Executive” style house (wtf is that)
    A massively stupid house on an alley. Dreadful.
    Listed @$2.888M

  107. Scraper flipper: 3148 Graveley
    Bought 2015 for $1.168M – resold 9 months later for $1.555M
    New-build listed at $2.698M
    Not a great location – five blocks from Ninja’s beloved Clinton Park facilities

    • ARNIE: your personal attacks are getting old. We put up with visions of bogs, scrapers, etc., but your ongoing revolting “twerking, vomiting” personal insults are too much for me. I now avert my eyes at your postings :-), to avoid yet another disgusting image. So, unfortunately you are losing whatever audience you might have had here by getting personal – I’m sure it’s not just me.

  108. In Vancouver you now have to poke your head in the kitchen and order from the cook directly.

    Waitstaff now. Nurses, teachers, sanitary workers next.

  109. Vancouver has become a globalize hub of money laundering and other crimes.

    Also, Arnie lives here.

    https://www.news1130.com/2018/07/06/dirty-money-vancouver/

  110. “Money supply is the key”. Bingo.

  111. A real beaut!

    • 3395 Charles St – Ninja is seriously pumped up by his post – his twerky senses were tingling when he saw this.
      This is an aspirational bsmt rental for the Ninja – with a view that only someone with his particular peccadillo could appreciate.
      Yes, shades of his beloved Grant St bsmt, it too offers a view of the comings and goings at the mens’ room.

      • Grant St was main floor, but it had a basement, rented by a psycho. One of the charms of living in East Van and Vancouver generally… there’re lots of ’em. It’s why Arnie feels so at home. Plus, houses like this one make his look a little less dumpy.

  112. 3637 Haida: scraper bought 3 years ago for $1.549M
    Hideous new-build listed at $3.688M
    Overpriced by over a million
    Kitchen would make a nice morgue.

  113. Sebastien (-80% bear)

    85 E 18th Avenue, Vancouver
    May 4:$2,398,000
    Jul 9: $1,899,888
    Change: – 498112.00 -21%
    A: $1,901,900

    8971 Minler Road, Richmond
    Apr 3:$2,680,000
    Jul 8: $1,999,999
    Change: – 680001.00 -25%
    A: $2,704,000 ( Nu-stream listing but house didn’t sell @ Assessment)

    1006 8288 Granville Avenue, Richmond
    May 22:$589,000
    Jul 8: $519,000
    Change: – 70000.00 -12%
    A: $540,000

    3682 E 27th Avenue, Vancouver
    Apr 3:$1,299,000
    Jul 9: $1,150,000
    Change: – 149000.00 -11%
    A: $1,283,500 ( House didn’t sell close to Assessment 🙂 )

  114. Listen to this clown, Phil Doper — I mean Soper — CEO of Royal Losers.

    I literally think he takes huge bong hits and it’s affecting his cognition.

    Favourite quote from the interview:

    “I worry much more about prices accelerating too quickly, than anything resembling a hard landing.”

    Have you no shame, Phil?

    I also love some of the “feel-good” real estate lingo:

    – “Softening”
    – “Wait and see mood”
    – “Adjusted expectations”

    And best of all: “A Spring market that never blossomed”.

    Seriously, these guys should win a prize for their linguistic acrobatics.

    https://www.bnnbloomberg.ca/home-prices-forecast-to-rise-after-spring-market-never-blossomed-1.1104915

  115. Sebastien (-80% bear)

    6858 Bryant Street, Burnaby
    Feb 5:$1,988,000
    Jul 10: $1,699,999
    Change: – 288001.00 -14%
    A: $1,799,000

    3206 E 54th Avenue, Vancouver
    Apr 12:$1,098,000
    Jul 10: $898,000
    Change: – 200000.00 -18%
    A: $996,000

    1254 Esquimalt Avenue, West Vancouver
    Jun 4:$2,795,000
    Jul 10: $2,500,000
    Change: – 295000.00 -11%
    A: $2,709,000

    13177 68a Avenue, Surrey
    May 22:$1,100,786
    Jul 10: $900,000
    Change: – 200786.00 -18%
    A: $910,000 ( Under assessed sales now in Surrey 🙂 )

    5896 148a Street, Surrey
    May 9:$949,900
    Jul 10: $825,000
    Change: – 124900.00 -13%
    A: $899,000

    1550 E 13th Avenue, Vancouver
    Feb 13:$2,160,000
    Jul 10: $1,929,000
    Change: – 231000.00 -11%
    A: $2,044,000

    3329 Puget Drive, Vancouver
    Jan 29:$4,188,000
    Jul 10: $3,389,000
    Change: – 799000.00 -19%
    A: $3,419,800

    4415 Capilano Road, North Vancouver
    May 11:$1,488,000
    Jul 10: $1,318,000
    Change: – 170000.00 -11%
    A: $1,542,400 ( Didn’t sell under-assessed! 😛 )

    3656 Blenheim Street, Vancouver
    Apr 5:$2,680,000
    Jul 10: $2,280,000
    Change: – 400000.00 -15%
    A: $2,419,900

  116. 80% deluded – strokin’ the Ninja …

    3656 Blenheim was a rental – dog friendly too! The kitchen is a stunner.
    Ninja picked out the colours.

    3,300 sq ft lot. Yikes.

    • Sebastien (-80% bear)

      “80% deluded” — Why? What about the 20%
      3656 Blenheim : Kitchens can’t be redone? dog odor can’t disappear? can’t be repainted?

      • You can’t make lots expand. $690/sq ft is crazy money for a scraper.
        Here, a speculator got their knuckles rapped – they threw down $2.38M for this just two years ago. You have that kind of scratch lying around?
        Rent doesn’t carry mortgages like this, and a builder would have to charge an insane price to make any money.
        At any rate, assuming a zombie apocalypse and doomsday prices, which of the dog’s breakfast of scattered listings would you and the Ninja want to hole up in – eating your tins of sardines?

      • “You can’t make lots expand.”

        Deep thoughts from real estate guru Arnie, aka Jack Handy.

  117. Ninja the Toxic Troll – not a clue – just wants spy on mens’ washrooms, twerk with his dog, and post inanities; an intellectually bankrupt, pro-eugenics, doomsday prepper; a deeply disturbed loser in life.

  118. 241 45th Ave E: no view; flanking an alley; crappy old 1 1/2 storey house on a big lot; mindless kitchen redo with walls ripped out to create the illusion of space. Permits and receipts?
    Bought 12.7 years ago for $670K
    Listed $540K over assessed @ $2.698M
    Too expensive to scrape; not good enough to keep.

  119. 628 19th Ave E: overpriced turkey of the week
    Bought 5 years ago for $1,151,401. – there’s a number that tells a storey
    Listed half a mil over assessed, this scrawny 24.9’ wide lot sits on the Tea Swamp.
    $2.298M for this? Seriously? No view. No laneway. On a bog.

  120. 28 60th Ave E: small lot; no view; ridiculous staging; dreadful dysfunctional kitchens loaded with living room furniture. $2.268M new-build. Style fit for a clown.

  121. 636 50th Ave E: facing a dreaded T-junction and, worse, a looming evangelical bell tower.

  122. Sebastien (-80% bear)

    20 2150 Salisbury Avenue, Port Coquitlam
    Jan 31:$798,800
    Jul 11: $699,800
    Change: – 99000.00 -12%
    A: $736,000

    7918 Elwell Street, Burnaby
    Apr 30:$1,478,888
    Jul 11: $1,199,000
    Change: – 279888.00 -19%
    A: $1,239,900 (It’s surprising because this house is in an area poised to be zoned higher density)

    231 E Eighth Avenue, New Westminster
    Apr 17:$1,150,000
    Jul 11: $999,900
    Change: – 150100.00 -13%
    A: $1,002,700 (Same as above)

    6718 Arbutus Street, Vancouver
    May 7:$4,880,000
    Jul 11: $3,998,000
    Change: – 882000.00 -18%
    A: $4,015,000 (Let me guess; the kitchen is horrible? The bathrooms need remodeling?)

  123. Arbutus: you’re not guessing – you’re being silly.
    It’s on the corner of two traffic streets – endless stop sign action.
    It’s listed at almost assessed.
    It’s a few blocks from the massive aquifer breach at 7084 Beechwood that has been gushed over a billion litres of water since 2017 and has cost the city over 10 mil to plug so far (google this disaster zone). This whole area is toxic. Far more properties would come up for sale if people thought they could get their money out. Hard to say what’s more disconcerting – having your house sitting/tilting on a bog, or knowing you’re on a crust of earth over an aquifer. In an earthquake, which would be worse?
    To be zoned – is different from – zoned – many can’t hang on long enough to capitalize.

    • #BewareOfBogs
      #TheDangerIsReal

    • Sebastien (-80% bear)

      lol… nice try but there’s 500 meters between the two addresses. Are you implying that all of south Kerrisdale is at the cusp of collapsing like in the movie “San Andreas” ?

  124. Ninja the Toxic Troll giggled so hard at his perceived wit that he soiled himself – and then proceeded to have a lengthy twerk with his dog while planning his next inanity.

  125. Sebastien (-80% bear)

    3033 Spuraway Avenue, Coquitlam
    Apr 19:$1,199,900
    Jul 12: $999,999
    Change: – 199901.00 -17%
    A: $1,283,500 (Didn’t sell under-assessed 🙂 )

    3058 Spuraway Avenue, Coquitlam
    May 15:$1,388,000
    Jul 12: $1,238,000
    Change: – 150000.00 -11%
    A: $1,290,700

    509 125 E 14th Street, North Vancouver
    Jun 8:$899,900
    Jul 12: $788,000
    Change: – 111900.00 -12%
    A: $870,000

  126. Sebastien (-80% bear)

    Anybody knows more houses like this one?

  127. Authoritarian, boring Vancouver.

    • Three problems in our beautiful public parks:
      Smokers
      Drinkers
      Assholes with dogs

      • To be fair, these are indeed problems in Arnie’s dumpy East Van ‘hood.

        And dogs run from him.

        Hence his world view.

        But these aren’t, in fact, widespread problems in the city. Very little drinking in most parks. Very little smoking in most places too.

        A native Vancouverite would know this. But Arnie is a loudmouth import.

    • Speaking of assholes with dogs …

      • Arnie’s rhetorical sophistication on full display.

        Hey Arnie, don’t step on a used needle as you walk out your front door.

  128. Sebastien (-80% bear)

    5537 Chancellor Boulevard, Vancouver
    Apr 10:$9,100,000
    Jul 13: $7,988,000
    Change: – 1112000.00 -12%
    A: $9,157,400 ( Didn’t sell at assessment 😛 )

    • Last sold in 1978 for $155K
      Looks like these poor dead/dying sellers are really taking a beating on this one.
      @ the new list that’s only $392/ sq ft – a builder alert – an 8 million dollar scraper
      buy and hold – rent it out – with 3 whole bedrooms imagine the money
      Busy street – bus route – not desirable

      • Phoney expert Arnie blows smoke again.

        This is one of the most desirable neighborhoods in Vancouver.

        By far.

        Is the house worth $8m? No. Maybe half that.

      • Sebastien (-80% bear)

        Take your meds

  129. Sebastien (-80% bear)
  130. Sad, but true.

  131. Sebastien (-80% bear)

    3657 W 37th Avenue, Vancouver
    Dec 19:$4,180,000
    Jul 15: $3,180,000
    Change: – 1000000.00 -24%
    A: $4,183,000 ( Didn’t sell @ assessment. It’s a Nu-Stream listing but an asking price 24% under-assessed is still pretty grim. Drug money quietly leaving?)

  132. Official Chinese growth statistics are faker than the botoxed faces of Vancouver’s nouveau riche.

  133. Sebastien (-80% bear)

    302 1331 Alberni Street, Vancouver
    May 22:$759,900
    Jul 16: $599,900
    Change: – 160000.00 -21%
    A: $629,000 ( Surprising for a downtown condo)

    4876 4 Avenue, Delta
    May 1:$1,598,000
    Jul 16: $1,380,000
    Change: – 218000.00 -14%
    A: $1,515,000

    6388 Dawn Drive, Delta
    Apr 23:$1,123,000
    Jul 16: $999,888
    Change: – 123112.00 -11%
    A: $1,088,000

    5796 16a Avenue, Delta
    Mar 22:$1,198,000
    Jul 16: $998,000
    Change: – 200000.00 -17%
    A: $1,088,200

    2244 Austin Avenue, Coquitlam
    Mar 14:$1,599,800
    Jul 16: $1,249,900
    Change: – 349900.00 -22%
    A: $1,288,000 ( Should be rezoned soon)

    9751 Pinewell Crescent, Richmond
    May 31:$1,828,000
    Jul 16: $1,599,000
    Change: – 229000.00 -13%
    A: $1,657,300

    8115 Strathearn Avenue, Burnaby
    May 2:$1,688,000
    Jul 16: $1,498,000
    Change: – 190000.00 -11%
    A: $1,556,300

  134. Public housing!

  135. Sebastien (-80% bear)

    6207 Buchanan Street, Burnaby
    Apr 5:$1,968,000
    Jul 17: $1,650,000
    Change: – 318000.00 -16%
    A: $1,809,000

    13439 56 Avenue, Surrey
    Dec 27:$1,548,000
    Jul 17: $1,299,000
    Change: – 249000.00 -16%
    A: $1,448,000

    6588 Portland Street, Burnaby
    Jun 4:$1,799,000
    Jul 17: $999,999
    Change: – 799001.00 -44%
    A: $1,487,400 ( Someone trying to avoid the registry?)

    2905 Marine Drive, West Vancouver
    Jan 16:$3,480,000
    Jul 17: $2,895,000
    Change: – 585000.00 -17%
    A: $3,281,000

  136. Sebastien (-80% bear)

    Th5 8333 Anderson Road, Richmond
    Mar 28:$1,188,000
    Jul 18: $999,000
    Change: – 189000.00 -16%
    A: $1,132,000

    1012 E 20th Avenue, Vancouver
    Feb 19:$1,188,000
    Jul 18: $948,000
    Change: – 240000.00 -20%
    A: $1,283,000

    1402 Chartwell Drive, West Vancouver
    Jul 10:$6,980,000
    Jul 18: $5,988,000
    Change: – 992000.00 -14%
    A: $6,187,000

    4710 Willow Place, West Vancouver
    Apr 9:$2,998,000
    Jul 18: $2,380,000
    Change: – 618000.00 -21%
    A: $2,578,000

  137. Sebastien (-80% bear)

    25 1881 144 Street, Surrey
    Mar 9:$1,350,000
    Jul 18: $999,000
    Change: – 351000.00 -26%
    A: $1,065,000

  138. More dog’s breakfast …
    Surrey townhouse on 144 – two hours of agony round trip to Vancouver. Dropped 6.2% from assessed. Yabba dabba.
    Bought for $377K in ‘02 = 164% gain while living out there in the boonies
    The only example of a good deal you’ve provided to date is the one near Beaconsfield Park – where the old guy died at 92, ow just nonsense.

  139. Ninja the Toxic Troll is confused due to lack of nutrient from his steady diet of ‘Ol Roy.

  140. 5206 Chester St: new-build No Frills location; below grade; small lot; graveyard view; E-W orientation; mindless layout – $2.75M. Insane. Awful.

  141. 1754 34th Ave E: schizo design. Dreadful. $2.899M. Nowhere near Skytrain. Ridiculous.

  142. 1842 64th Ave E: scraper flipper:
    2015 – $1.065M; 7 months later – $1,540,002.
    That extra $2.00 is hilarious.
    New-build now – $2.499M
    That’s a lot of churn.

    • Literally no one cares about your “scraper flippers” (whatever that means). Literally no one.

      You’re like the loser at the party who can’t shut up about real estate. Except that guy actually gets invited to parties.

    • Sebastien (-80% bear)

      To be honest, in costs more than 1,000,000$ to rebuild a house in Vancouver if you include all the red tape and permits. At 2.5 mil, the profit margin is about 15-20% max. If they have to lower the price by about 300,000$, they’ll be in the red.

      • More than a million to rebuild a house in Vancouver? Pure fiction. Try watching Love it or List it Vancouver, none of their professional permitted renovations are more than 30% of that figure.

      • You don’t have a clue what it costs – to be honest.

      • Sebastien (-80% bear)

        When I say rebuild, I mean from the foundation up, not just renovating the cabinets and repainting. In some cases, yes it’ll be more than 1 mil. The gouging by the contractors, PTT, permits, delays, etc…

  143. Sebastien (-80% bear)

    2887 W 39th Avenue, Vancouver
    May 8:$5,399,000
    Jul 19: $4,399,000
    Change: – 1000000.00 -19%
    A: $4,539,000

    4951 Wintergreen Avenue, Richmond
    Dec 21:$1,699,000
    Jul 19: $1,299,990
    Change: – 399010.00 -23%
    A: $1,612,400

  144. 2887 39th – see that nasty traffic street that runs flush with this ppty? It’s a horrible location. Another fake drop from a hopeful ask.

  145. Wintergreen – look at the lot and location before you do your silly posts. You can figure it out – or are you as asinine as Ninja?

  146. 2754 Dundas: bought 8 months ago for $1.25M – listed at a 3/4M bump.

    • Sebastien (-80% bear)

      The location is quite good though. Near the highway and PNE. How do you know that someone will buy it @ 2,000,000$?

    • Proximity is good, though not to Skytrain. Dundas gets a lot of rat runners going to Renfrew St. That area in general is very good.

      • Sebastien (-80% bear)

        Why the need for the skytrain when you can just hop on a bus on Hastings that is 200 m away?

  147. Bulls aren’t liking what they see, calling it “fake”.

    Denial is the first stage of the grieving process.

    Then comes anger.

    Finally, acceptance.

  148. And the drops just keep comin’.

    I love how bulls have gone from bragging about price increases, to making excuses for declines.

    Scrambling, ever more frantically, to plug the leaks on their sinking ship.

    Sorry, b*tches.

    It’s over.

  149. Ninja the Toxic Troll – the basement oracle – how’s the ‘Ol Roy vomit tasting – up to your usual standard?

  150. 3691 Georgia St E: Do locations get worse than this … on Boundary Rd … power lines overhead. This new-build with two rat suites could be yours for $2.079M + GST. Open House this weekend – line up early.

    • Sebastien (-80% bear)

      It’s an awesome location actually. Near the highway, The PNE, Hastings ( transit, shops, restaurants, etc…). You can take a bus for DT and be there in like 25 mins. When it comes to traffic, you can always change windows and put a cedar hedge and other things like that. The power lines affect home values in what way?
      A lot of buyers actually love the rental suites… mortgage helpers. It’s a brand new house up to code and everything.

      If this listing drops in price it’s because the market sours and only because of that.

  151. Arnie remarks on aspects of a property that anyone — even small children — can easily see, and which are therefore priced in to any assessment. Fridge too big? People can see that and allocate value accordingly. Not close enough to a SkyTrain? That, too, is clear to anyone who cares to consider the property. And the list goes on. Whatever deficiencies are apparent to Arnie, are apparent to everyone else. Arnie’s judgment is mere noise. Useless ranting. A waste of pixels.

    As Sebastien says, anything listed under assessment is a reflection of a tanking market, not some secret defect that only keyboard warrior Arnie is able to detect.

  152. Bears in the wilderness – looking for a bag of ‘Ol Roy to share while commiserating.

  153. Sebastien (-80% bear)

    20 2590 Panorama Drive, Coquitlam
    Apr 4:$799,999
    Jul 20: $699,000
    Change: – 100999.00 -13%
    A:$781,000

    11895 89a Avenue, Delta
    Mar 19:$775,000
    Jul 20: $668,000
    Change: – 107000.00 -14%
    A: $689,100

  154. A 1000 sq ft rancher in Delta? You are desperate. No worry about being overrun with hipsters here.
    .16% under assessed.

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