New BC Housing blog

Uncertain Buyer has started up a BC housing blog at http://bchousingblog.blogspot.com/ and is off to a great start. This blog is written from the perspective of someone who has just cashed out of the Real Estate market and will be renting for a while as prices are just starting to drop.

He/she covers topics ranging from the difference between renting and buying, mixed messages from realtors, and general BC housing news. If you’re interested in BC real estate this site is a great read and well worth checking out.

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Dave

Good to see people with common sense. Edmonton is starting to experience "withdrawal" pains in regards to the housing bubble. There is a lot of people looking to buy a house but people seem to be waking up to the fact that they are OVERPRICED! I have seen brand new houses that are almost a year old and are still sitting empty. In Fort Saskatchewan one developer backfilled basements he dug last fall. They can't unload the junk they built in the spring of '07. Houses that they are asking $500,000 for are selling for $350,000.

The media is totaly silent about the housing slump. I guess if you make millions a year from real estate advertising you won't bite the hand that feeds you.

deely

Why don't you think prices will flatten out? Has it happened before?

Anonymous

The late 90's decline was sort of a slow hiss. I must say I don't remember any media coverage, and as I wasn't in the market I wasn't watching prices.The 1981 collapse was something else entirely. No need for the media to report it – the effects were as obvious as a bombing raid, and lasted for years.I think by this time next year we'll see which scenario we're into this time. And no, I don't see prices flattening out.

Anonymous

remember the real estate drop of 97 -2001? I really didnt think the media ever reported the slump. Do you ever think they'll report this slump? its all confusing numbers they report …its going up, its stabilized its okay, etc.

the pope

Sure thing uncertain buyer, thanks for dropping by, I'll add a sidebar link to your site shortly.

digi

Welcome to the growing crowd of sceptics, and thanks for sharing your experience. You aren't the only one in this situation by far, but few take the time to share their experience.The idea that prices can keep going up regardless of incomes and affordability is a very silly one, and for a while there it was bandied about in many US markets that are seeing some big drops right now.Just looking around at the number of voices coming online about this topic its clear that you aren't the only one that thinks this is just about the worst time to be buying real estate.

Uncertain Buyer

Thanks for the "Plug". I started my Blog after being inspired by yours and others on the Housing topic.I decided it would be good to document my findings and feelings as I waited to buy my new home in a new town. At first I was really concerned about not getting back into the market because I felt that RE would appreciate to a point where I couldn't afford it. I even started looking into 30 year mortgages which would help bring the "Monthly Payment" down. It was stressing me out.After countless trips and showings with my Realtor I just couldn't bring myself to buy. I felt like I was being ripped off. It was almost like being at a used car dealership. I was not interested in paying Top Dollar for a home when I had to come down… Read more »