One fish's deluded view on Vancouver RE
What's up in the Shuswap region?Where have all the cowboys gone? (The "rich foreign buyers" that made it different there.)
why is kelowna important? do you think with reasonable real estate prices there people will move from vancouver to live there? Is quality of life better in Kelowna? Why would one like to live there? would you exchange vancouver with kelowna? for what premium?
Anon- the title is 'Vancouver RE and then some' count Kelowna as 'then some' and calm down.Would I exchange Vancouver for Kelown? In a heart-beat if I could get some nice piece of land with a view and maybe a few grapes for the price of a shack here.We are not there yet, but I am watching.
fish,it is interesting what you say about Kelowna. I have been looking at real etsate here and you need 2million to buy smth decent in Vancouver.I see that 1 million buys you a decent house in kelowna and you are still left with 1 million do open a business or do smth else. I also see that kelowna has ski resorts and lakes just as vancouver does so at a cheaper price you can get the same quality of life over there. Do you think prices in Kelowna are resonable now or they will go down more?
"why is kelowna important?"Because residents there will be fighting for the same pool of government money. More distress in Kelowna means less money for the other regions of the province.In addition, to think the two markets aren't tied together is a bit of a stretch. If Kelowna continues to drop like a stone, enough Vancouverites sick of rain can do the math and pull up their stakes.
Anon- I like the OK. My work keeps me here though.Like any area outside vancouver it has it's ups and downs. bit more religious and churchy- which some people like and others don't. More right of centre (think Stockwell Day as your MP). However cheaper land/housing and plentiful recreation.the wineries and fine dining have definately made it a nicer place to live.Will it go down further? Well the MOI are terrible, so either buyers will have to come to bring the MOI down under double digits or prices will have to fall to bring down the fence sitters. Will the Albertans with bags of cash come bacK?BTW I met one a few years ago- scouting to buy a small vineyard. He didn't even like wine that much (more of a beer guy) but his advisor told him it was a good way to diversify..sigh would that we all had that problem.The earning capacity is lower, so i think $1 Mill is still a huge chunk of money there.
thanks for the input Fish. I checked the wheather network and it seems they really dont get near as much rain as here, and the seasons seem to be more marked than here where it rains very often, no matter the season. I dont mind rain so much but here it really gets to you as it can rain non stop for days.I chekced the wineries there, but you need still 4million plus to get something decent and there arent many for sale. That is a lot of money, considerign that the return is not that great.I will drive up there and have a look. More I think about our economy, more it looks like a ponzi scheme, eventually in the end natural resources and agricultural land are real whealth. So buying some land there at a resoanble price might be a good idea. I hear that we reached 1 trillion morgage debt level. I wonder if anybody knows what a trillion dollars is anymore. I am pessimistic for the future.
I Trillion for a country the size of Canada is huge. no doubt about it. What they didn't say - is how much equity is behind it.Wineries are generally a love affair that sucks money or a 'farming' tax write off for the super rich.