Back in time for a quarter

I recently wrote an article on alternate housing options for the Vancouver Observer. The idea of taking a home, putting in a suite and a laneway and dividing it between 3 parties who are listed as tenants in common on title. The division would be covered by contract. I used an example of a house that could be bought for $1.6m.
 It would cost each buyer $700 to get in to that 1/3 section( after renos, costs etc..). I thought I would look back and see how long ago you would have had to buy in to the Real Estate market to get that whole house for $700k.
 One example stood out. This put the whole idea that the " price of housing has gone up" into context

A quaint little Dunbar house on W 22 nd  sold this month for $1.605m
It had sold in 2005 for $830,000
It had sold in 2002 for $448,000
It had sold in 2000 for $398,000
11 years ago I could have bought 4 of these house for what 1 will cost me today.
 My husband works for our National Airline, He makes LESS today then he did 11 years ago. I am sure a huge percentage of our workers are in this same boat. Who says we have little inflation?

This November I have been asked to speak at an alternative housing forum put on by the Real Estate Board's North Shore Division. I really hope that by then, 11 months from now. We have created viable options for people. Going back 11 years isnt going to happen.

Vancouvers money pyramid

I have been increasingly concerned with the escalating property values in very select neighborhoods.West Vancouver in particular.
 Difficult since my bread and butter comes from selling and reselling of Real estate, but my allegiance lies with the liveability, sustainablity of our neighborhood- our city. I am here for the long haul. So any fleeting financial gain in commission is wholly offset by the deterioration of what works in a neighborhood.
The current situation I find alarming.
We are pawns in very global game of chess where people with big money are coming in and buying up our property and then telling other people what a great spot this is to invest, they in turn are then selling that great property for hugely inflated prices to the next person and on it goes. The province is laughing as it reaps in the PTT over and over. But our citys , that are bearing the brunt of this localized issue are not getting any piece of the pie. It will be the City ( or in West vans case the District..) that has to deal with closed shops and bistros since many of these homes are not even lived in. Perhaps a mom and child move in, but not a whole household of contributing citizens.
here are a few examples, and this is just todays sampling.

800 block Pyrford. tax assessed at $1.982,000
sold in August 2011 for $3.288,000
Listed now at $4.180,000

1400 blk Nelson tax assessed at $1.200,000
sold in March 2010 for $1.200,000
listed  now at $2.199,000

1400 blk of Sandhust tax value$ 2.088,000
sold July 2011 for $2.088,000
listed $2.998,000

1800 blk  Queens tax assessed $1.551,000
sold May 1st 2011$ 1.728
listed now $2.398

and the best one
3100 Blk Thompson Cr
tax assessed $4.143,000
sold in 2009 for $4.142,000
listed now for $7.5 million

maybe everyone is just cashing out. maybe everyone wants to downsize. But if this keeps up where will you downsize to? When a starter home is now 1.8 million we have some serious problems. Who will live here that works here? Our nurses and firemen and teachers, and restaurantuers dont make this kind of money.Soon they will have to charge $10 for a coffee! If employees move to the suburbs,with soaring gas prices soon the commute will cost too much and we will find ourselves with a lovely area that can"t  find people to work here. Most people tend to want to live close to where they work.
It goes back to us needing a supply of smaller housing. Not more $8 million mansions on our mountains, but more small little cottages where families can start and single young people can live and enjoy our community too. This doesnt solve the problem, but perhaps it can mitigate one of its symptoms.
I am glad laneway housing and coach houses are at the forefront of this civic campaign. We have the ability to vote in people that bring this forward in a sensible way that wont overcrowd or over densify our neighborhood. But who will deal with the  Real Estate speculation?Politically, no one wants to touch it.

I dont have the answers . I just think someone has to start asking the questions.

canadian culture

I was fortunate to participate in the Global Buyers Mission a couple weeks ago. Groups from Taiwan, Japan, Korea and many others came to see what forestry/wood building products we are making/creating.
I was hosting the tour at a lovely laneway house which garnered plenty of interest. They were amazed we dared to build with so much wood in a landscape of forest and bugs!

The wonderful people Imet from Korea and Taiwan came bearing gifts and It reminded me  that in their culture that is very typical. I lived in Manila for 7 years and started to recognize different cultural traits when I was there.

But what about Canadians? Whats our " culture"?

 I have heard some people say its the culture of " sorry"

as in... "sorry"  you go first when merging,
" sorry" i took your spot in line
 and maybe soon to be ...
"sorry" i overcharged you on the price of my home....