Central Okanagan housing market thread

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Re: Central Okanagan housing market thread

Postby alanjh595 » Feb 4th, 2018, 3:13 pm

W105 wrote:and good old Alan :) Mr Castanet Photographer of the Forums Photo Shoots :) you bet we made money doing that !!! but that was almost pure "sweat" equity...not like today where one does dick except buy and it's instant equity because the yrly "non logical" huge increases... we saw increases in the market of course but not like this...not so quick and not so high...and of course we couldn't tap that instant equity back then..


Yup. those were the days, my how they have changed. Of course, those changes are attributable to the mindset of the current generation. The ones that have no skills, knowledge, or desire to put in any "Sweat-equity". they have created their own problem and blame the previous generation for it.

they want the best, the newest, in the better neighbourhoods, with all the amenities, but they complain when they can't afford it, and are not willing to invest their sweat equity and work their way up the ladder.

They all want to start at the top.
If at first you don't succeed, skydiving is not for you.
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Re: Central Okanagan housing market thread

Postby alanjh595 » Feb 4th, 2018, 4:15 pm

W105 wrote:first home in 1985 was $64,900 2200 sq ft Norma...it was off Pandosy.it was a long term rental property that needed alot of work...second house in 1992-3 ??, was $78,000 downtown, but it had a fire in it and the owner was a crackhead (crack really hit Kelowna hard at that time period) and couldn't afford to rebuild (most likely spent the insurance money on crack, who knows ??) so we got it cheap and had to put a few $$ into...and we sold it for a very nice profit...you don't have to believe me, that's ok..



That's great for you. Now take $65,000 and calculate in the average monetary gains of approx. $2000 /yr for every year since.......(don't worry, I will supply the chart at the end of the comment for your reference.)
Now add in the demand/desire to own property in the Okanagan, multiply that by the availability of properties.
You will find that the demand has outgrown the supply.
Therefore; the prices go up to coincide with the the demand.

Considering ONLY inflation rates. $78G is now worth.......
Capture.JPG


That is not factoring in supply, demand, interest, etc.

Gee, if you had just held on to that piece of land, you would be a millionaire by now.

So sad to be you.
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Re: Central Okanagan housing market thread

Postby normaM » Feb 4th, 2018, 4:28 pm

sigh, old house just sold nearby looks like they are planning 3 houses on that one lot. Damn moved out here to put distance between ppl, not have them cheek to jowl. It
s the price they are getting for the infills, no room for anything yet asking Mansion price
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Re: Central Okanagan housing market thread

Postby forum » Feb 4th, 2018, 7:21 pm

Jonrox wrote:We have a decent sized house on what you’d call a small lot by choice... I hate yard work.


Is it so hard to tell the truth? You'd love to have a large lot with a lush garden with fruit trees that's all taken care of by gardeners that only wear a banana hammock. But you can't afford it because you haven't invested in crypto because it's too scary of a venture for you.
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Re: Central Okanagan housing market thread

Postby forum » Feb 4th, 2018, 7:29 pm

W105 wrote:oh sorry, I thought you didn't believe me Norma :) that rental house saw some very hard times !! I swear to god they left some animal or a child in one of the closets because the pee stains in one closet were unbelievable !! like we literally had to take out that section of the floor...they had this thick, bushy disgusting carpet thru out the living room and dining room...the smell could have knocked a buzzard off a chit wagon !!! underneath was beautiful solid wood floors...we almost cried when we saw them :)

my spouse spent hrs sanding them, bringing them back to their full glory...so he varnishes etc and what do I do ?? I get so excited that I step on it and walk into the kitchen..I look back and I see my foot prints...I had gotten home from work early and he wasn't home yet..I was never so scared in my life to see him..hahaha I knew I was in deep chit...I thought "well, it was good being married for such a short time" LOL yeah he was mad (putting it nicely) ...my stupid excitement cost hrs of extra work ... I heard about my "little" mistake for yrs...lol


Pretty simple fix to that situation W105.
Lay on the bed wearing, well... nothing, and when he enters ask him how to get varnish off your feet.
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Re: Central Okanagan housing market thread

Postby LTD » Feb 4th, 2018, 8:19 pm

forum wrote:After the Patriots win the Superbowl today, for the next 20 years Canadians that loaded up on overpriced real estate will need to learn to get by with less. Start booking your Staycations now, the Albertans will be clogging up our parks and rec. fairly soon.

oops wrong again imagine that [icon_lol2.gif]

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Re: Central Okanagan housing market thread

Postby forum » Feb 5th, 2018, 7:31 am

The addiction is real.

Pretty sad, isn't it? Canadians can't get their fix so they enter the shady market of alternative lenders.

Many tears will be shed by Canadians when this ends.

https://www.cp24.com/news/new-mortgage-rules-sending-borrowers-down-the-credit-ladder-to-alt-lenders-1.3789753
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Re: Central Okanagan housing market thread

Postby normaM » Feb 5th, 2018, 8:16 am

Did you shed tears when you team lost Forum?
https://www.youtube.com/watch?v=KUoD-gPDahw
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Re: Central Okanagan housing market thread

Postby Ka-El » Feb 5th, 2018, 10:54 am

forum wrote: Is it so hard to tell the truth?

Not for most of us – just guessing as to why it is such a trouble for you.
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Re: Central Okanagan housing market thread

Postby Jonrox » Feb 5th, 2018, 4:26 pm

forum wrote:
Jonrox wrote:We have a decent sized house on what you’d call a small lot by choice... I hate yard work.


Is it so hard to tell the truth? You'd love to have a large lot with a lush garden with fruit trees that's all taken care of by gardeners that only wear a banana hammock. But you can't afford it because you haven't invested in crypto because it's too scary of a venture for you.

I'm being honest. I hate yardwork. I already pay people to take care of it.

Crypto is too scary for me as an investment. It's way too volatile and I don't believe in the platform in it's current state. I believe in blockchain, but not in the current cryptocurrencies. Sure I could gamble on it, but I prefer to save my gambling for trips to Vegas.

I've been investing for years in consistent, proven performers and it's worked out quite well. I'm not one to jump on bandwagons or buy into the hype train on things like crypto.

You still haven't told us why people are going to be in for a shock when they renew their mortgages though.
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Re: Central Okanagan housing market thread

Postby LANDM » Feb 5th, 2018, 5:10 pm

And, Forum, you still haven’t taken me up on the simple bet......or explained why not.
Or is it just that you know how full of schiesse you are?
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Re: Central Okanagan housing market thread

Postby forum » Feb 5th, 2018, 8:23 pm

normaM wrote:Did you shed tears when you team lost Forum?
https://www.youtube.com/watch?v=KUoD-gPDahw


No, my team was the Eagles. I'm very happy right now. Getting drunk watching the replays.

Patriots actually won, two bad touchdown calls.
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Re: Central Okanagan housing market thread

Postby Bpeep » Feb 5th, 2018, 8:40 pm

I hope ya bought that condo on the westside on the weekend before crypto tanked.
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Re: Central Okanagan housing market thread

Postby forum » Feb 5th, 2018, 9:35 pm

LANDM wrote:And, Forum, you still haven’t taken me up on the simple bet......or explained why not.
Or is it just that you know how full of schiesse you are?


Because I'm a crypto cowboy investor and your bet is bush league.
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Re: Central Okanagan housing market thread

Postby HorganIsMyHero » Feb 5th, 2018, 9:35 pm

alanjh595 wrote:Yup. those were the days, my how they have changed. Of course, those changes are attributable to the mindset of the current generation. The ones that have no skills, knowledge, or desire to put in any "Sweat-equity". they have created their own problem and blame the previous generation for it.

they want the best, the newest, in the better neighbourhoods, with all the amenities, but they complain when they can't afford it, and are not willing to invest their sweat equity and work their way up the ladder.

They all want to start at the top.


No, not really. Younger people are just tired of paying $1500 a month to rent a cardboard box.

Don't you ever get tired of being wrong?
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