What are Your Reasons for Not Buying A Vancouver Home?

That Was Then

It was almost four years to the day that a reader stated why he wouldn’t buy a Vancouver home claiming that they are “lining up for an epic crash – prices will be getting crushed in the months ahead.”

His statement prompted a search through old files where was found a seven year old Andex Chart that provided 63 more reasons why you shouldn’t buy a Vancouver home.

Sixty-Three Reasons Not To Buy a Vancouver Home

1950 1972 – Watergate 1991 – U.S. recession; USSR dissolves
1951 – Excess Profits Tax 1973 – Oil Embargo 1992 – L.A. Riots
1952 – U.S. seizes steel mills 1974 – Nixon Resigns 1993 – Midwestern U.S. Floods
1953 – Soviets explode H-bomb 1975 – U.S. withdrawal from Vietnam 1994 – Fed raises rates 6 times
1954 – Dow Tops 300; Market “TOO HIGH” 1976 – New York City threatens bankruptcy 1995 – Dow tops 4000 then 5000; Market “TOO HIGH”
1954 – Eisenhower illness 1977 – Energy Crisis 1996 – Technology stocks stumble
1956 – Suez Crisis 1978 – Massacres in Cambodia 1997 – Chaos in Asian Markets
1957 – Soviets Launch Sputnik 1979 – Three Mile Island disaster 1998 – Global Economic turmoil
1958 – Recession 1980 – Abscam scandal rocks Congress 1999 – Fears of Y2K problem
1959 – Castro seizes power 1981 – Regan and Pope shot 2000 – Internet ‘bubble’ bursts
1960 – Soviets down U-2 spy plane 1982 – Worst Recession in 40 years 2001 – Terrorist attacks in U.S.
1962 – Cuban Missile Crisis 1983 – Soviets shoot down Korean airliner 2002 – Worst Bear Market sin ’29-32; Eron, Tyco, Worldcom
1964 – Gulf of Tonkin 1984 – Iran/Iraq war escalates 2003 – War in Iraq, SARS
1965 – Civil rights marches 1985 – U.S. becomes a debtor nation 2004 – Geopolitical uncertainty, oil = $50+
1966 – Vietnam War Escalates 1986 – Bombing in Lybia 2005 – Terrorist attacks in London; Hurricane Katrina
1967 – Newark Riots 1987 – Record Setting market decline 2006 – Middle East Conflict; Nuclear concerns
1968 – U.S.S. Puelbo seized 1988 – Bank failures peak 2007 – Worries about U.S. credit market
1969 – Money supply tightens; market fails 1988 – Junk bond debacle
1970 – Cambodia invaded; war spreads 1990 – Iraq invade Kuwait
1972 – Wage Price freeze

Historical Infomation Adapted from Andex Chart Courtesy of Scotiabank Group 2007

Main-Street-Tire-No-reasona

Battles Chosen

There will always be a reason not to buy a Vancouver home but will that reason be the right one.

What Others Think

Jesse Donaldson – Land of Destiny

About Larry Yatkowsky

Larry is a recognized real estate expert. A veteran professional, his experienced counsel leads Vancouverites in his west side community to place their trust in a man passionate about his work. Uncompromising ethics bring a balanced approach to realizing your real estate dreams.

When Life Moves You - contact Larry:

*Disclaimer: Statistics Courtesy REBGV. While believed to be accurate they are not guaranteed.
**Numbers provided may vary as they are dynamically posted by the REBGV.

Reader Comments:

Tom Says:
April 15th, 2014 at 10:57 pm

How about 2008-2014 – Credit bubble

Income Says:
April 15th, 2014 at 11:36 pm

Why? For me I could pay for a house cash 1-2 million, let’s say I bought a million dollar crack shack, 4 K property taxes, plus upkeep etc etc or I could rent a 1 million dollar shaft for 3-4 thousand no worries completely free. My 1 million generates me 7400 a month income, more than enough to pay rent plus it grows. I love it when people look down at me when I say I rent.

Sam Says:
April 16th, 2014 at 9:38 am

Sorry for all you bears out there, there is no one I know that bought and have regretted since. Buying to invest is one thing but buying to have a HOME not a house to live in is another. If you bears think it’s a waste of money buying instead of renting, I suppose all of you should be taking public transit and not owning cars because cars are the worst asset to buy/lease.

billybob Says:
April 16th, 2014 at 1:19 pm

I don’t buy because it’s really expensive and interest rates are still scraping bottom. I feel like it’s a big risk to borrow huge amounts of money when the rates could go up, and I’m doubtful that the upside on a condo, which is the only thing I could afford, exists.

Sam, your example doesn’t make sense. I own a car because I think it’s a better deal than leasing. I lease my home because I think it’s a better deal than owning.

Income Says:
April 16th, 2014 at 11:49 pm

If your smart leasing car’s is the way to go, look for lease takeovers, lot of bargains to be had

billybob Says:
April 17th, 2014 at 3:31 pm

Fair enough; I’ll have a look the next time I’m getting a new car. I just try to do what makes sense.

The point being, you can buy stuff, or you can lease stuff. It’s still the same stuff.

April 17th, 2014 at 4:10 pm

@billybob

About stuff – here’s George Carlin’s view of things. One reason to get a house. :)

https://www.youtube.com/watch?v=MvgN5gCuLac

billybob Says:
April 18th, 2014 at 9:46 pm

Love that old Carlin “stuff” ;-)

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