Comments on: Selling in Vancouver – Good, Bad & Ugly

By: wizardofozziejurock

wizardofozziejurock — Wed, 06 Sep 2006 14:53:00 +0000

frenchie said, "The mortgage rates going down a bit may spur people to buy."I remember seeing that argument being made by bulls, in reverse. They used to say that people rush in to buy when rates are going up, hoping to lock in at the lower rates. Based on the same psychology, I would expect people to hold off on a purchase while rates are going down. The longer one waits, the better rates get. Add to this a slowing market and it becomes a real wait-and-see for potential buyers.I don't know if that's correct, but it seems plausible.

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By: bc_cele

bc_cele — Tue, 05 Sep 2006 20:43:00 +0000

Mortgage rates have actually been drifitng down for the past few weeks in the US already. Hasn't slowed down the collapse there one bit. Sort of like puting your hands out trying to stop an oncoming train.

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By: Anonymous

Anonymous — Tue, 05 Sep 2006 20:10:00 +0000

frenchie -if super-low interest rates aren't slowing down the crash currently under way in the states why would we be any different? The fantasy that its somehow different here only stretches to the point that potential buyers can afford and I think that it will seem like a lot less of a sure thing and more of a suckers bet when prices are dropping. At that point we may even see the cost of buying approach the cost of renting before we build up demand again.

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By: frenchie

frenchie — Tue, 05 Sep 2006 18:17:00 +0000

The mortgage rates going down a bit may spur people to buy. I don't see prices going down with those low interest rates.

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By: bc_cele

bc_cele — Tue, 05 Sep 2006 14:58:00 +0000

The real ugly: When people realize that the market is slipping away and that leaky condo they bought to flip is going to wind them up in bankruptcy court.

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By: Anonymous

Anonymous — Tue, 05 Sep 2006 13:54:00 +0000

The stampede has not started yet. I would give it a while, as places could stay on the market for quite a while until people realize the past value of their property was illusionary. This will be a bitter pill to swallow. Once the realization hits, though, we will see a stampede.....

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