Comments on: Slowing market ‘returning to balance’

By: Anonymous

Anonymous — Thu, 17 Aug 2006 20:52:00 +0000

d_oush, some arguments are just plain wrong and don't warrant any consideration. Do you honestly believe that a debate, such as this, is nothing more than opinion and doesn't have to be backed up with evidence? If so then I suggest that you stick to arguing sports with your buddies over a few beers, and leave the academic arguments to those who actually have something to offer.

Current score: 0 (to vote for this comment, please visit the site)

By: D_Oush

D_Oush — Thu, 17 Aug 2006 16:47:00 +0000

Oh, and bc_cele:

You can't live in a tech-stock so there's nothing to keep them from dropping to zero. Someone always needs a house to live in.

Current score: 0 (to vote for this comment, please visit the site)

By: WoodenHorse

WoodenHorse — Thu, 17 Aug 2006 15:09:00 +0000

D_Oush said… I don't have time to find statistics to back up my argument If you're laying out the better part of a Million bucks for something, I would recommend that you find that time to do such. And that is where we depart company.I have numbers,I have stats,I have analysis,I'm not buying.Furthermore:but I would remind everyone that real-estate is an emotional market. Facts and figures say one thing, but it all comes down to opinions and emotion anyways.And that's where we have the source of air that inflated this bubble. How do you think the "RE Never Goes Down" crowd will react to being bombarded by stories out of the US about it's RE.It's just started…pull up a chair:G&M: http://tinyurl.com/npehkhttp://tinyurl.com/npehk />Or even: http://thehousingbubbleblog.com/Watch the articles, read the stories.btw: I only just noticed you said this in your first post:There are so many factors that go into a market that it is overly simplistic to say that the future will look something like the past.Are you joking? You can't just wave away history. You do however have to explain why it is different now.

Current score: 0 (to vote for this comment, please visit the site)

By: D_Oush

D_Oush — Thu, 17 Aug 2006 14:31:00 +0000

We can bounce statistics back and forth, but we clearly disagree about where the market is going. I don't have time to find statistics to back up my argument, but I would remind everyone that real-estate is an emotional market. Facts and figures say one thing, but it all comes down to opinions and emotion anyways.

Current score: 0 (to vote for this comment, please visit the site)

By: bc_cele

bc_cele — Thu, 17 Aug 2006 13:03:00 +0000

Oh, and bc_cele:You can't live in a tech-stock so there's nothing to keep them from dropping to zero. Someone always needs a house to live in. Oh and d_oush everything you just said is the same rehashing of the top housing myths that we see time and time again.If you are so correct, then explain to me why Hong Kong and Tokyo have crashed so hard and sayed down for years. They have a higher density of people, which I presume most live somewhere, and they have mountains, oceans and all that great stuff we have here. Japan even hosted the Olympics. Hasn't helped them, though.And hate to burst your bubble, but Vancouver isn't in the world-class, yet. Maybe some day, but it isn't even in the same class as Toronot, let alone Montreal, NYC, London, Paris, or Geneva. I've lived in, or around all these cities, and I can tell you that Vancouver has a long way to go.

Current score: 0 (to vote for this comment, please visit the site)

By: WoodenHorse

WoodenHorse — Thu, 17 Aug 2006 12:31:00 +0000

Oh: one last question,Have you ever seen a franklin mint collectable plate commercial? Do you remember what they say at the end of those?

Current score: 0 (to vote for this comment, please visit the site)

By: WoodenHorse

WoodenHorse — Thu, 17 Aug 2006 12:30:00 +0000

BTW: apologizes for the spelling.

Current score: 0 (to vote for this comment, please visit the site)

By: WoodenHorse

WoodenHorse — Thu, 17 Aug 2006 12:28:00 +0000

d_oush:I'm not trying to be insulting, but that statement basically shows me that we're talking two different languages.I like Vancouver, and yes, it's growing. However, housing prices are so far out of wack with respect to incomes and potential rental incomes that it's not funny.furthermore, net immigration to BC has been at historic lows during this housing boom and that Landcor study shows it's BC'er selling to BC'ers in the vast majority of cases. Overseas purchasers represent at most 4% of sales (could be less...check out that link)However, whether or not Vancouver is in the same class as NYC or Paris is an opinion based debate. How's about this, answer these questions:1)Name one other city where the olympics caused a sustained RE price change?2)How high do you expect prices to go? Especially given that we have near NYC prices with roughly 1/3 the square foot rental returns (not to mention the difference in salary between the two locations)3)Given that Landcor report are you still holding to "Demand from foreign investors" as a driver of prices here?4)Do you think Vancouver is immune to what's currently happening to US RE?I would like the responses to not have just opinions. Give me data or links (or at least verifiable points: i.e. lumber was 320/board foot last year, is 285/board foot right now).I am probably the only guy you'll find on any of these blogs that if you put forward a good argument, I'll change my opinion. The prices don't add up right now and are different form any other time in history: What is your justifaction that it'll stay that way?

Current score: 0 (to vote for this comment, please visit the site)

By: D_Oush

D_Oush — Thu, 17 Aug 2006 11:38:00 +0000

Woodenhorse - What is that supposed to mean? Do you think that Vancouver is not a growing city? We aren't as big as NY or Paris yet, but we aren't a small city like Kelowna. Canada only has a few locations with nice climates all year round and vancouver happens to be the big city smack dab in the middle of the nicest part of canada.the way prices have gone up recently proves that this city is in demand.

Current score: 0 (to vote for this comment, please visit the site)

By: WoodenHorse

WoodenHorse — Thu, 17 Aug 2006 10:15:00 +0000

D_Oush said... Why do you say vancouver is not like London, Paris, NY, etc? D_Oush, I wish you the best.Cheers,WH

Current score: 0 (to vote for this comment, please visit the site)