'We can no longer build what people can afford': Warning for Vancouver real estate as 2,500 condos sit unsold

[shockedcanadian]

Toronto and.Vancouver housing is going to collapse fairly soon. The government will borrow $100B to help out the banks, oirdollar will.lose.20-25% of an already devestatingly low amount. The key may be pipelines because Alberta is not happy though it won't ensure the recovery of our dead economy. This has been made worse with Trump focusng on policies that weaken B.C.and Ontario, in a nation already weak on innovation. https://www.cbc.ca/news/canada/british-columbia/unsold-condos-metro-vancouver-bc-2025-1.7647776.
Executives in Vancouver's real estate industry are warning of a glut of newly built condos sitting unsold and empty throughout the region.

About 2,500 new condos are sitting unsold and empty in Metro Vancouver, according to the Canada Mortgage and Housing Corporation (CMHC).

That number is double what it was last year, according to CMHC.

 

[MarathonMike]

Toronto and.Vancouver housing is going to collapse fairly soon. The government will borrow $100B to help out the banks, oirdollar will.lose.20-25% of an already devestatingly low amount. The key may be pipelines because Alberta is not happy though it won't ensure the recovery of our dead economy. This has been made worse with Trump focusng on policies that weaken B.C.and Ontario, in a nation already weak on innovation. https://www.cbc.ca/news/canada/british-columbia/unsold-condos-metro-vancouver-bc-2025-1.7647776.
Executives in Vancouver's real estate industry are warning of a glut of newly built condos sitting unsold and empty throughout the region.

About 2,500 new condos are sitting unsold and empty in Metro Vancouver, according to the Canada Mortgage and Housing Corporation (CMHC).

That number is double what it was last year, according to CMHC.

I'm curious, what is the price per sq foot in all of those vacant condos?

 

[shockedcanadian]

I'm curious, what is the price per sq foot in all of those vacant condos?

If it's Vancouver,.a massive amount that far outweighs the price to salary.

 

[MarathonMike]

If it's Vancouver,.a massive amount that far outweighs the price to salary.

The AI bot says $1200 per sq ft!! Yeah that's crazy.

 

[DGS49]

So let's say you own one or some of those unsold condos. If your unit won't sell at C$500,000, then it will sell at something less than that. Without question. The only question is, at what price? The fact that they are still sitting unsold means that the sellers believe it is better to eat the monthly interest and wait for a willing buyer. This will pass, one way or another. Them condos will be sold in due course.

 

[shockedcanadian]

The AI bot says $1200 per sq ft!! Yeah that's crazy.

The nation is going bankrupt and housing.is collapsing. Police States eventualy all meet the same demise due to lost productivity, talent and innovators. We were simply being subsidized for decades by the.U.S whch allowed us to keep our big cities afloat.

 

[Mack The Finger]

The AI bot says $1200 per sq ft!! Yeah that's crazy.

That's Chuck Manson crazy.

 

[jackflash]

Toronto and.Vancouver housing is going to collapse fairly soon. The government will borrow $100B to help out the banks, oirdollar will.lose.20-25% of an already devestatingly low amount. The key may be pipelines because Alberta is not happy though it won't ensure the recovery of our dead economy. This has been made worse with Trump focusng on policies that weaken B.C.and Ontario, in a nation already weak on innovation. https://www.cbc.ca/news/canada/british-columbia/unsold-condos-metro-vancouver-bc-2025-1.7647776.
Executives in Vancouver's real estate industry are warning of a glut of newly built condos sitting unsold and empty throughout the region.

About 2,500 new condos are sitting unsold and empty in Metro Vancouver, according to the Canada Mortgage and Housing Corporation (CMHC).

That number is double what it was last year, according to CMHC.

People can now purchase the affordable "Chitter" mini homes complete with single bed & a propane heated one burner heating element for cooking! One can even step up to the deluxe "Chitter McSchitter" model with the latest in commode holding tank technology! All that's needed is a mini-pick up & a four wheeled utility trailer & one is ready for the adventurous Low Cost Rest Stop-Truck Stop lifestyle!!! PERFECT for the day-laborer! Live an affordable but quality lifestyle with a "Chitter McShitter" mini home, available @ all "Chitter McSchitter" outlets!

 

[frigidweirdo]

Toronto and.Vancouver housing is going to collapse fairly soon. The government will borrow $100B to help out the banks, oirdollar will.lose.20-25% of an already devestatingly low amount. The key may be pipelines because Alberta is not happy though it won't ensure the recovery of our dead economy. This has been made worse with Trump focusng on policies that weaken B.C.and Ontario, in a nation already weak on innovation. https://www.cbc.ca/news/canada/british-columbia/unsold-condos-metro-vancouver-bc-2025-1.7647776.
Executives in Vancouver's real estate industry are warning of a glut of newly built condos sitting unsold and empty throughout the region.

About 2,500 new condos are sitting unsold and empty in Metro Vancouver, according to the Canada Mortgage and Housing Corporation (CMHC).

That number is double what it was last year, according to CMHC.

The problem is they don't put policies in place to limit property prices. They often profit from the rising prices.

 

[toobfreak]

Toronto and.Vancouver housing is going to collapse fairly soon. The government will borrow $100B to help out the banks, oirdollar will.lose.20-25% of an already devestatingly low amount. About 2,500 new condos are sitting unsold and empty in Metro Vancouver, according to the Canada Mortgage and Housing Corporation (CMHC). That number is double what it was last year, according to CMHC.

Wow, Canada sure sounds like a real bummer.

 

[shockedcanadian]

Wow, Canada sure sounds like a real bummer.

Trumps administration certainly understands what is going on as did other administrations, it's just that Trump is focused on delivering open markets. The average American is naive which is why you need to educate yourselves so as to not emulate our unaccountable, creepy model. Your economy will fall far behind as ours has (with recover near impossible due to losing our best to USA). I am going to share some new details wth the U.S which may help you make better informed decisions. It is paramount that the wrath of G-d avenges those who cannot fight back.

 

[sparky]

The government will borrow $100B to help out the banks

'eff the banks..... ~S~

 

[MayorQuimby]

The nation is going bankrupt and housing.is collapsing. Police States eventualy all meet the same demise due to lost productivity, talent and innovators. We were simply being subsidized for decades by the.U.S whch allowed us to keep our big cities afloat.

No we are mostly kept afloat by Alberta oil money. And Ottawa doesn't show any gratitude to them at all instead they just keep bossing them around. And now Alberta wants to break away from the federation. Who's gonna pay for all those purple-haired SJWs living in Toronto and Vancouver.

 

[MayorQuimby]

The problem is they don't put policies in place to limit property prices. They often profit from the rising prices.

They most certainly do profit from inflated real estate housing prices, however, passing laws to limit property prices just sounds very communist to me.

 

[citygator]

You guys know how supply and demand works right? Prices in Vancouver are high because a lot of people want to live there compared to the real estate available. It’s pretty land locked.

People are sitting on 2-3% mortgages so they aren’t selling. Low supply keeps the prices high even with softening demand.

With Trump crashing global markets I can see housing prices fall, which is BAD not GOOD.

 

[MayorQuimby]

You guys know how supply and demand works right? Prices in Vancouver are high because a lot of people want to live there compared to the real estate available. It’s pretty land locked.

People are sitting on 2-3% mortgages so they aren’t selling. Low supply keeps the prices high even with softening demand.

With Trump crashing global markets I can see housing prices fall, which is BAD not GOOD.

Supply and demand are relative to each other. When the demand softens then that necessarily means supply is too high.

 

[citygator]

Supply and demand are relative to each other. When the demand softens then that necessarily means supply is too high.

From an economic perspective supply and demand move independently, one shifting doesn’t automatically pull the other along. A decreasing demand simply means the equilibrium price is lower, not that supply is too high. Youre welcome.

 

[MayorQuimby]

From an economic perspective supply and demand move independently, one shifting doesn’t automatically pull the other along. A decreasing demand simply means the equilibrium price is lower, not that supply is too high. Youre welcome.

Take your snarky shit and shove it up your ass.

 

[citygator]

Take your snarky shit and shove it up your ass.

Don’t come at me with weak points and you wont feel so violated when I respond with strong points.

 

[MayorQuimby]

Don’t come at me with weak points and you wont feel so violated when I respond with strong points.

Dude. Does the phrase, "in the spirit of discussion" mean anything to your feeble little brain at all? Or is everything all about winning and losing to your Darwinian mind?